第 99.1 號展品
新聞發布
亞瑟 ·J· 加拉格爾及公司宣布
2024 年第三季財務業績
2024 年 10 月 24 日，伊利諾伊州羅林梅多斯 — 亞瑟 ·J· 加拉格爾及公司（紐約證券交易所：AJG）今天公佈其截至季度的財務業績 二零二四年九月三十日管理層將於 2024 年 10 月 24 日（星期四）下午 5 時 15 分/下午 4 時 15 分舉行網上廣播電話會議，討論這些結果。若要聆聽電話，以及針對此版本的適合印表格式和 「財務長評論」和「季度補充數據」，可在通話期間參考，請瀏覽 AJG 網站/國際網路 這些文件同時包含 GAAP 和 非 GAAP 措施。 投資者及其他使用者應仔細閱讀標題為「有關資料」的部分 非 GAAP 「措施」從第 9 頁開頭。
| 第三季財務業績摘要 | ||||||||||||||||||||||||||||||||
| 前收入 | 稀釋淨盈利 | |||||||||||||||||||||||||||||||
| 退款 | 淨盈利（虧損） | EBITDAC | 每股 (虧損) | |||||||||||||||||||||||||||||
| 區段 |
第三季第二十四 | 第三季第二十三 | 第三季第二十四 | 第三季第二十三 | 第三季第二十四 | 第三季第二十三 | 第三季第二十四 | 第三季第二十三 | ||||||||||||||||||||||||
| (以百萬計) | (以百萬計) | (以百萬計) | ||||||||||||||||||||||||||||||
| 經紀，如報告 |
$ | 2,396.4 | $ | 2,122.1 | $ | 383.0 | $ | 339.0 | $ | 691.5 | $ | 611.5 | $ | 1.70 | $ | 1.53 | ||||||||||||||||
| 出售淨額（收益） |
(22.5 | ) | (0.4 | ) | (16.8 | ) | (0.3 | ) | (22.5 | ) | (0.4 | ) | (0.07 | ) | — | |||||||||||||||||
| 收購整合 |
— | — | 36.3 | 43.0 | 48.7 | 57.1 | 0.16 | 0.20 | ||||||||||||||||||||||||
| 勞動力與租約終止 |
— | — | 36.2 | 5.4 | 48.5 | 7.1 | 0.16 | 0.02 | ||||||||||||||||||||||||
| 收購相關調整 |
— | — | 1.8 | (5.8 | ) | 31.5 | 12.7 | 0.01 | (0.03 | ) | ||||||||||||||||||||||
| 無形資產攤銷 |
— | — | 120.0 | 95.8 | — | — | 0.54 | 0.43 | ||||||||||||||||||||||||
| 有效所得稅率影響 |
— | — | — | (0.8 | ) | — | — | — | — | |||||||||||||||||||||||
| 等級化外幣換算 |
— | 12.6 | — | (0.4 | ) | — | 0.2 | — | — | |||||||||||||||||||||||
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| 經紀，調整後 * |
2,373.9 | 2,134.3 | 560.5 | 475.9 | 797.7 | 688.2 | 2.50 | 2.15 | ||||||||||||||||||||||||
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| 風險管理（如報告） |
369.7 | 331.0 | 44.6 | 41.5 | 74.1 | 66.8 | 0.20 | 0.19 | ||||||||||||||||||||||||
| 出售淨額（收益） |
(0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | — | — | ||||||||||||||||||
| 收購整合 |
— | — | 0.6 | — | 0.9 | — | — | — | ||||||||||||||||||||||||
| 勞動力與租約終止 |
— | — | 1.4 | 0.6 | 2.0 | 0.8 | 0.01 | — | ||||||||||||||||||||||||
| 收購相關調整 |
— | — | — | 0.1 | — | 0.1 | — | — | ||||||||||||||||||||||||
| 無形資產攤銷 |
— | — | 2.7 | 1.2 | — | — | 0.01 | 0.01 | ||||||||||||||||||||||||
| 等級化外幣換算 |
— | 2.4 | — | 0.5 | — | 0.6 | — | — | ||||||||||||||||||||||||
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| 調整後的風險管理 * |
369.6 | 333.3 | 49.2 | 43.8 | 76.9 | 68.2 | 0.22 | 0.20 | ||||||||||||||||||||||||
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| 企業（如報告） |
0.4 | 0.5 | (113.5 | ) | (97.3 | ) | (74.7 | ) | (72.2 | ) | (0.51 | ) | (0.44 | ) | ||||||||||||||||||
| 與交易相關的成本 |
— | — | 6.6 | 1.9 | 8.9 | 2.6 | 0.03 | 0.01 | ||||||||||||||||||||||||
| 法律和稅務相關 |
— | — | 3.5 | 17.8 | — | 20.5 | 0.02 | 0.08 | ||||||||||||||||||||||||
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| 企業 (經調整後) * |
0.4 | 0.5 | (103.4 | ) | (77.6 | ) | (65.8 | ) | (49.1 | ) | (0.46 | ) | (0.35 | ) | ||||||||||||||||||
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| 公司總數 (如報告) |
$ | 2,766.5 | $ | 2,453.6 | $ | 314.1 | $ | 283.2 | $ | 690.9 | $ | 606.1 | $ | 1.39 | $ | 1.28 | ||||||||||||||||
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| 公司總額 (經調整後) * |
$ | 2,743.9 | $ | 2,468.1 | $ | 506.3 | $ | 442.1 | $ | 808.8 | $ | 707.3 | $ | 2.26 | $ | 2.00 | ||||||||||||||||
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| 總經紀和風險管理（如報告） |
$ | 2,766.1 | $ | 2,453.1 | $ | 427.6 | $ | 380.5 | $ | 765.6 | $ | 678.3 | $ | 1.90 | $ | 1.72 | ||||||||||||||||
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| 經紀和風險管理總額 (經過調整後) * |
$ | 2,743.5 | $ | 2,467.6 | $ | 609.7 | $ | 519.7 | $ | 874.6 | $ | 756.4 | $ | 2.72 | $ | 2.35 | ||||||||||||||||
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| * | 在 2024 年第三季，經紀部門調整的稅前影響總計為 2.800 萬美元， 主要是因為 非現金 與無形攤銷有關的期間開支，對與這些項目相關的所得稅預備額對 60.6 萬美元進行相應的調整。第三季度 2024 年，風險管理部分調整的稅前影響總計為 6.5 百萬美元，對與這些項目相關的所得稅預備進行相應調整為 1.9 萬美元。對於 2024 年第三季，稅前影響 企業部分調整總額為 8.9 百萬元，對所得稅收益的相應調整為 1.2 百萬元。2024 年及 2023 年收入條款（福利）的詳細調節 稅款顯示在第 14 頁和第 15 頁。 |
（共 15 個）
“Our excellent financial performance continued during the third quarter! For our combined brokerage and risk management segments, total revenues increased 13%, organic revenues increased 6%, we completed four new mergers, grew net earnings 12%, delivered 123 basis points of adjusted EBITDAC margin expansion, and most importantly, our bedrock culture is thriving.” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “Through the first nine months of the year, revenues have increased 16%, organic growth is 8%, net earnings have increased 19% and adjusted EPS is up 17%.
“Global third quarter renewal premiums increases were little changed from our September IR day update a few weeks ago. The recent U.S. Hurricanes have not yet had a significant impact on insurance pricing in October, but are adding some complexity to January 1st property reinsurance renewals. Client exposure changes, including mid-term policy endorsements, continue to be positive, and new arising claim counts are growing; both indicating solid economic activity across our clients’ businesses.
“Our thoughts are with those impacted by the recent storms and floods, including our own Gallagher colleagues. Our professionals are hard at work helping clients sort through their coverages, file claims and ultimately get losses paid.
“Looking ahead, we are very well positioned. Our net new business is up from prior year, renewal premiums continue to increase and our M&A pipeline is robust. The opportunities ahead of us are immense and I am very excited about our long-term prospects!”
| 截至9月30日的財務結果摘要 - 九個月收入 | ||||||||||||||||||||||||||||||||
| 稅前收入 | 稀釋淨收益 | |||||||||||||||||||||||||||||||
| 報銷 | 淨收益（損失） | EBITDAC | 每股收益（損失） | |||||||||||||||||||||||||||||
| 區間 |
9 個月 24 | 9 個月 23 | 9 個月 24 | 9 個月 23 | 9 個月 24 | 9 個月 23 | 9 個月 24 | 9 個月 23 | ||||||||||||||||||||||||
| (以百萬為單位) | (以百萬為單位) | (以百萬為單位) | ||||||||||||||||||||||||||||||
| 根據報導，券商 |
$ | 7,637.6 | $ | 6,585.7 | $ | 1,368.4 | $ | 1,144.6 | $ | 2,408.3 | $ | 2,055.9 | $ | 6.10 | $ | 5.21 | ||||||||||||||||
| 清算後（收益） |
(25.0 | ) | (5.6 | ) | (18.6 | ) | (4.3 | ) | (25.0 | ) | (5.6 | ) | (0.08 | ) | (0.02 | ) | ||||||||||||||||
| 收購整合 |
— | — | 112.7 | 133.9 | 151.0 | 176.4 | 0.51 | 0.61 | ||||||||||||||||||||||||
| 員工和租賃終止 |
— | — | 65.6 | 40.9 | 88.0 | 54.1 | 0.29 | 0.19 | ||||||||||||||||||||||||
| 收購相關調整 |
(26.0 | ) | — | 24.3 | 20.5 | 92.5 | 34.9 | 0.11 | 0.09 | |||||||||||||||||||||||
| 營業無形資產攤銷 |
— | — | 364.2 | 285.1 | — | — | 1.63 | 1.30 | ||||||||||||||||||||||||
| 有效所得稅率影響 |
— | — | — | (3.5 | ) | — | — | — | (0.02 | ) | ||||||||||||||||||||||
| 水準化外幣匯率轉換 |
— | 9.6 | — | (4.2 | ) | — | (4.3 | ) | — | (0.02 | ) | |||||||||||||||||||||
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| 券商，經過調整* |
7,586.6 | 6,589.7 | 1,916.6 | 1,613.0 | 2,714.8 | 2,311.4 | 8.56 | 7.34 | ||||||||||||||||||||||||
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| 風險管理，按照報告 |
1,081.1 | 947.2 | 131.7 | 111.7 | 216.9 | 183.2 | 0.59 | 0.51 | ||||||||||||||||||||||||
| 資產出售淨利（損） |
— | (0.3 | ) | — | (0.3 | ) | — | (0.3 | ) | — | — | |||||||||||||||||||||
| 收購整合 |
— | — | 1.3 | 0.5 | 1.8 | 0.8 | — | — | ||||||||||||||||||||||||
| 員工和租約終止 |
— | — | 3.4 | 1.8 | 4.6 | 2.4 | 0.02 | 0.01 | ||||||||||||||||||||||||
| 併購相關調整 |
— | — | 0.1 | 0.3 | 0.2 | 0.3 | — | — | ||||||||||||||||||||||||
| 營業無形資產攤銷 |
— | — | 7.2 | 3.3 | — | — | 0.03 | 0.02 | ||||||||||||||||||||||||
| 分級外幣轉換 |
— | 0.6 | — | 0.4 | — | 0.3 | — | — | ||||||||||||||||||||||||
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| 風險管理，經過調整* |
1,081.1 | 947.5 | 143.7 | 117.7 | 223.5 | 186.7 | 0.64 | 0.54 | ||||||||||||||||||||||||
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| 企業，如報告 |
1.9 | 0.5 | (287.9 | ) | (250.7 | ) | (187.5 | ) | (197.8 | ) | (1.29 | ) | (1.14 | ) | ||||||||||||||||||
| 交易相關費用 |
— | — | 11.6 | 7.6 | 14.9 | 10.2 | 0.05 | 0.03 | ||||||||||||||||||||||||
| 法律和稅務相關 |
— | — | 3.5 | 22.8 | — | 26.0 | 0.02 | 0.11 | ||||||||||||||||||||||||
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| 企業，經過調整* |
1.9 | 0.5 | (272.8 | ) | (220.3 | ) | (172.6 | ) | (161.6 | ) | (1.22 | ) | (1.00 | ) | ||||||||||||||||||
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| 公司總計，按照報告 |
$ | 8,720.6 | $ | 7,533.4 | $ | 1,212.2 | $ | 1,005.6 | $ | 2,437.7 | $ | 2,041.3 | $ | 5.40 | $ | 4.58 | ||||||||||||||||
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| 公司總計，調整後* |
$ | 8,669.6 | $ | 7,537.7 | $ | 1,787.5 | $ | 1,510.4 | $ | 2,765.7 | $ | 2,336.5 | $ | 7.98 | $ | 6.88 | ||||||||||||||||
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| 券商風險管理總計，按照報告 |
$ | 8,718.7 | $ | 7,532.9 | $ | 1,500.1 | $ | 1,256.3 | $ | 2,625.2 | $ | 2,239.1 | $ | 6.69 | $ | 5.72 | ||||||||||||||||
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| 券商風險管理總計，調整後* |
$ | 8,667.7 | $ | 7,537.2 | $ | 2,060.3 | $ | 1,730.7 | $ | 2,938.3 | $ | 2,498.1 | $ | 9.20 | $ | 7.88 | ||||||||||||||||
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(2 of 15)
| * | 截至2024年9月30日期間，券商部門調整前稅前影響總額達7.341億美元，主要是由於 项目和某些变量收费项不随我们操作变化而变动的 與無形資產攤銷相關的期間費用，導致相應的所得稅調整金額為1.859億美元。截至2024年9月30日期間，風險管理部門調整前稅前影響總額為1.66億美元，相應的所得稅調整金額為0.46億美元。截至2024年9月30日期間，企業部門調整前稅前影響總額為1.49億美元，相應的所得稅受惠金額調整為0.2億美元。2024年和2023年所得稅負債（受惠）詳細調解請參見第14和15頁。 |
券商部門申報的GAAP與調整後 非美國通用會計準則 調解（單位：百萬美元）:
| 有機收入 (非通用會計原則) |
2024年第三季 | 2023年第三季 | 2024年9个月 | 2023年9个月 | ||||||||||||
| 基础佣金及费用 |
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| 报告的佣金和费用 |
$ | 2,123.0 | $ | 1,904.2 | $ | 6,862.7 | $ | 5,953.2 | ||||||||
| 来自收购的佣金和费用减少 |
(133.3 | ) | — | (508.2 | ) | — | ||||||||||
| 剥离业务减少 |
— | (27.3 | ) | — | (40.5 | ) | ||||||||||
| 分級外幣轉換 |
— | 10.6 | — | 8.9 | ||||||||||||
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| 有機基礎佣金和費用 |
$ | 1,989.7 | $ | 1,887.5 | $ | 6,354.5 | $ | 5,921.6 | ||||||||
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| 基礎佣金和費用的有機變動 |
5.4 | % | 7.3 | % | ||||||||||||
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| 補充收入 |
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| 如報告的補充收入 |
$ | 79.1 | $ | 70.8 | $ | 261.7 | $ | 223.6 | ||||||||
| 來自收購的補充收入減少 |
(1.6 | ) | — | (6.7 | ) | — | ||||||||||
| 分級外幣轉換 |
— | 0.6 | — | 1.0 | ||||||||||||
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| 有機補充收入 |
$ | 77.5 | $ | 71.4 | $ | 255.0 | $ | 224.6 | ||||||||
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| 補充財務收入的有機變化 |
8.5 | % | 13.5 | % | ||||||||||||
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| 待定收入 |
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| 如報告的待定收入 |
$ | 69.3 | $ | 53.9 | $ | 215.1 | $ | 179.9 | ||||||||
| 來自併購的待定收入減少 |
(6.1 | ) | — | (21.8 | ) | — | ||||||||||
| 減少被出售的業務 |
— | (3.0 | ) | — | (3.0 | ) | ||||||||||
| 分級外幣轉換 |
— | (0.1 | ) | — | 0.1 | |||||||||||
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| 有機的待定收入 |
$ | 63.2 | $ | 50.8 | $ | 193.3 | $ | 177.0 | ||||||||
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| 有機的待定收入變化 |
24.4 | % | 9.2 | % | ||||||||||||
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| 報告的總佣金、費用、附加收入和條件性收入 |
$ | 2,271.4 | $ | 2,028.9 | $ | 7,339.5 | $ | 6,356.7 | ||||||||
| 減去自收購的佣金、費用、附加收入和條件性收入 |
(141.0 | ) | — | (536.7 | ) | — | ||||||||||
| 減去已剔除的業務 |
— | (30.3 | ) | — | (43.5 | ) | ||||||||||
| 分級外幣轉換 |
— | 11.1 | — | 10.0 | ||||||||||||
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| 總有機佣金、費用、附加收入和條件性收入 |
$ | 2,130.4 | $ | 2,009.7 | $ | 6,802.8 | $ | 6,323.2 | ||||||||
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| 有機總變化 |
6.0 | % | 7.6 | % | ||||||||||||
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| 併購活動 |
2024年第三季 | 2023年第三季 | 2024年前九個月 | 2023年前九個月 | ||||||||||||
| 已結束的併購次數 |
3 | 12 | 27 | 37 | ||||||||||||
| 收購的預估年化收入（以百萬計） |
$ | 32.7 | $ | 57.2 | $ | 173.9 | $ | 475.3 | ||||||||
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(15項中的第3項)
券商業務部門報告的GAAP至調整後的非GAAP資料對帳（續）（金額以百萬美元計）：
| 薪酬支出和比率 |
2024年第三季 | 2023年第三季 | 2024年前9個月 | 2023年前9個月 | ||||||||||||||||
| 薪酬支出，按報告 |
$ | 1,362.9 | $ | 1,189.7 | $ | 4,210.0 | $ | 3,592.2 | ||||||||||||
| 收購整合 |
(26.5 | ) | (32.6 | ) | (81.9 | ) | (105.2 | ) | ||||||||||||
| 工作人員和租賃終止相關費用 |
(46.2 | ) | (5.7 | ) | (81.5 | ) | (48.3 | ) | ||||||||||||
| 併購相關調整 |
(31.5 | ) | (12.7 | ) | (118.5 | ) | (34.9 | ) | ||||||||||||
| 分級外幣轉換 |
— | 7.0 | — | 10.8 | ||||||||||||||||
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| 薪酬支出，經調整 |
$ | 1,258.7 | $ | 1,145.7 | $ | 3,928.1 | $ | 3,414.6 | ||||||||||||
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| 在第1頁和第2頁上使用報告的營收報告的薪酬支出比率 |
* | 56.9 | % | 56.1 | % | 55.1 | % | 54.6 | % | |||||||||||
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| 調整後的薪酬支出比率，使用調整後的營收在第1頁和第2頁 |
* | * | 53.0 | % | 53.7 | % | 51.8 | % | 51.8 | % | ||||||||||
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| * | 報告的2024年第三季度薪酬比率較2023年第三季度高0.8個百分點。該比率主要受到較高的收購業績獲取相關調整、工作人員和租賃終止成本以及增加的員工福利成本的影響，部分抵銷了與控制人數和較低的整合成本相關的節省。 |
| ** | 調整後的2024年第三季度薪酬比率較2023年第三季度降低0.7個百分點。該比率主要受到與控制人數相關的節省的影響，部分抵銷了增加的員工福利成本。 |
| 營運費用和比率 |
2024年第三季 | 2023年第三季 | 2024年前9個月 | 2023年前9個月 | ||||||||||||||||
| 報告的營運費用 |
$ | 342.0 | $ | 320.9 | $ | 1,019.3 | $ | 937.6 | ||||||||||||
| 收購整合 |
(22.2 | ) | (24.5 | ) | (69.1 | ) | (71.2 | ) | ||||||||||||
| 員工及租賃終止相關費用 |
(2.3 | ) | (1.4 | ) | (6.5 | ) | (5.8 | ) | ||||||||||||
| 分級外幣轉換 |
— | 5.4 | — | 3.1 | ||||||||||||||||
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| 經調整後的營運費用 |
$ | 317.5 | $ | 300.4 | $ | 943.7 | $ | 863.7 | ||||||||||||
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| 報告的營運費用比率使用第1頁和第2頁的報告收入 |
* | 14.3 | % | 15.1 | % | 13.4 | % | 14.2 | % | |||||||||||
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| 調整後的營運費用比率使用第1和第2頁上的調整收入 |
* | * | 13.4 | % | 14.1 | % | 12.4 | % | 13.1 | % | ||||||||||
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| * | 2024年第三季營運費用比率比2023年第三季降低了0.8個百分點。此比率主要受到較低的整合成本、與辦公室整合相關的房地產費用節省、較少的業務保險成本以及較低的專業費用影響，部分抵銷了匯率的影響。 |
| ** | 2024年第三季調整後的營運費用比率比2023年第三季降低了0.7個百分點。此比率主要受到與辦公室整合相關的房地產費用節省、較少的業務保險成本以及較低的專業費用的影響。 |
(15的4)
券商部門報告的GAAP調整後 非美國通用會計準則 調和（續）（金額單位：百萬美元）：
| 淨收入至調整後EBITDAC(非通用會計原則) |
第3季2024 | 第3季2023 | 2024年前9個月 | 2023年前9个月 | ||||||||||||
| 净收入，如报告所示 |
$ | 383.0 | $ | 339.0 | $ | 1,368.4 | $ | 1,144.6 | ||||||||
| 所得税费用 |
128.9 | 115.0 | 465.9 | 390.8 | ||||||||||||
| 折舊 |
34.0 | 32.9 | 99.1 | 91.4 | ||||||||||||
| 攤銷 |
161.0 | 127.2 | 487.8 | 380.8 | ||||||||||||
| 估计收购尾款应付变动 |
(15.4 | ) | (2.6 | ) | (12.9 | ) | 48.3 | |||||||||
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| EBITDAC |
691.5 | 611.5 | 2,408.3 | 2,055.9 | ||||||||||||
| 資產出售淨利（損） |
(22.5 | ) | (0.4 | ) | (25.0 | ) | (5.6 | ) | ||||||||
| 收購整合 |
48.7 | 57.1 | 151.0 | 176.4 | ||||||||||||
| 員工和租約終止相關費用 |
48.5 | 7.1 | 88.0 | 54.1 | ||||||||||||
| 併購相關調整 |
31.5 | 12.7 | 92.5 | 34.9 | ||||||||||||
| 分級外幣轉換 |
— | 0.2 | — | (4.3 | ) | |||||||||||
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| 調整後的EBITDAC |
$ | 797.7 | $ | 688.2 | $ | 2,714.8 | $ | 2,311.4 | ||||||||
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| 利用第1頁和第2頁報告的收入報告的淨收益率 |
16.0 | % | 16.0 | % | 17.9 | % | 17.4 | % | ||||||||
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| 利用第1頁和第2頁的調整收入調整後的EBITDAC率 |
33.6 | % | 32.2 | % | 35.8 | % | 35.1 | % | ||||||||
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風險管理部門報告的GAAP與調整後的非GAAP調解（以百萬美元表示）：
| 有機收入 (非通用會計原則) |
2024年第3季 | 2023年第3季 | 2024年前9個月 | 2023年前9個月 | ||||||||||||
| 費用 |
$ | 359.1 | $ | 322.0 | $ | 1,048.0 | $ | 917.4 | ||||||||
| 國際業績獎金費 |
0.7 | 1.1 | 5.8 | 10.7 | ||||||||||||
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| 报告的费用 |
359.8 | 323.1 | 1,053.8 | 928.1 | ||||||||||||
| 收购中减少的费用 |
(17.3 | ) | — | (45.4 | ) | — | ||||||||||
| 剥离的运营减少的费用 |
— | (2.3 | ) | — | (2.3 | ) | ||||||||||
| 分級外幣轉換 |
— | 2.4 | — | 0.6 | ||||||||||||
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| 有机费用 |
$ | 342.5 | $ | 323.2 | $ | 1,008.4 | $ | 926.4 | ||||||||
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| 费用的有机变化 |
6.0 | % | 8.9 | % | ||||||||||||
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| 併購活動 |
第三季 2024年 | 2023年第3季 | 2024年前9個月 | 2023年前9個月 | ||||||||||||
| 已結束的收購次數 |
1 | — | 1 | — | ||||||||||||
| 預估獲得的年化收入（以百萬計） |
$ | 14.0 | $ | — | $ | 14.0 | $ | — | ||||||||
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（15項中的第5項）
Risk Management Segment Reported GAAP to Adjusted Non-GAAP Reconciliations (continued) (dollars in millions):
| Compensation Expense and Ratios |
3rd Q 2024 | 3rd Q 2023 | 9 Mths 2024 | 9 Mths 2023 | ||||||||||||||||||||
| Compensation expense, as reported |
$ | 224.6 | $ | 199.2 | $ | 657.7 | $ | 569.3 | ||||||||||||||||
| Acquisition integration |
(0.4 | ) | — | (1.0 | ) | (0.8 | ) | |||||||||||||||||
| Workforce and lease termination related charges |
(1.1 | ) | (0.5 | ) | (2.8 | ) | (1.4 | ) | ||||||||||||||||
| Acquisition related adjustments |
— | (0.1 | ) | (0.2 | ) | (0.3 | ) | |||||||||||||||||
| Levelized foreign currency translation |
— | 1.5 | — | 0.2 | ||||||||||||||||||||
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| Compensation expense, as adjusted |
$ | 223.1 | $ | 200.1 | $ | 653.7 | $ | 567.0 | ||||||||||||||||
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| Reported compensation expense ratios using reported revenues (before reimbursements) on pages 1 and 2 |
* | 60.7 | % | 60.2 | % | 60.8 | % | 60.1 | % | |||||||||||||||
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| Adjusted compensation expense ratios using adjusted revenues (before reimbursements) on pages 1 and 2 |
* | 60.3 | % | 60.0 | % | 60.5 | % | 59.8 | % | |||||||||||||||
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| * | Reported third quarter 2024 compensation ratio was 0.5 pts higher than third quarter 2023. Adjusted third quarter 2024 compensation ratio was 0.3 pts higher than third quarter 2023. Both ratios were primarily impacted by increased base compensation and higher employee benefit costs, partially offset by savings related to temporary help. |
| Operating Expense and Ratios |
3rd Q 2024 | 3rd Q 2023 | 9 Mths 2024 | 9 Mths 2023 | ||||||||||||||||||||
| Operating expense, as reported |
$ | 71.0 | $ | 65.0 | $ | 206.5 | $ | 194.7 | ||||||||||||||||
| Acquisition integration |
(0.5 | ) | — | (0.8 | ) | — | ||||||||||||||||||
| Workforce and lease termination related charges |
(0.9 | ) | (0.3 | ) | (1.8 | ) | (1.0 | ) | ||||||||||||||||
| Levelized foreign currency translation |
— | 0.3 | — | 0.1 | ||||||||||||||||||||
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| Operating expense, as adjusted |
$ | 69.6 | $ | 65.0 | $ | 203.9 | $ | 193.8 | ||||||||||||||||
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| Reported operating expense ratios using reported revenues (before reimbursements) on pages 1 and 2 |
* | 19.2 | % | 19.6 | % | 19.1 | % | 20.6 | % | |||||||||||||||
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| Adjusted operating expense ratios using reported revenues (before reimbursements) on pages 1 and 2 |
* | 18.9 | % | 19.5 | % | 18.9 | % | 20.5 | % | |||||||||||||||
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| * | Reported third quarter 2024 operating expense ratio was 0.4 pts lower than third quarter 2023. Adjusted third quarter 2024 operating expense ratio was 0.6 pts lower than third quarter 2023. Both ratios were primarily driven by savings in client-related expenses, partially offset by increased technology spend. |
| Net Earnings to Adjusted EBITDAC (Non-GAAP) |
3rd Q 2024 | 3rd Q 2023 | 9 Mths 2024 | 9 Mths 2023 | ||||||||||||
| Net earnings, as reported |
$ | 44.6 | $ | 41.5 | $ | 131.7 | $ | 111.7 | ||||||||
| Provision for income taxes |
16.1 | 14.9 | 47.6 | 40.1 | ||||||||||||
| Depreciation |
9.6 | 8.8 | 27.3 | 26.5 | ||||||||||||
| Amortization |
3.7 | 1.5 | 10.0 | 4.5 | ||||||||||||
| Change in estimated acquisition earnout payables |
0.1 | 0.1 | 0.3 | 0.4 | ||||||||||||
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| EBITDAC |
74.1 | 66.8 | 216.9 | 183.2 | ||||||||||||
| Net (gains) on divestitures |
(0.1 | ) | (0.1 | ) | — | (0.3 | ) | |||||||||
| Acquisition integration |
0.9 | — | 1.8 | 0.8 | ||||||||||||
| Workforce and lease termination related charges |
2.0 | 0.8 | 4.6 | 2.4 | ||||||||||||
| Acquisition related adjustments |
— | 0.1 | 0.2 | 0.3 | ||||||||||||
| Levelized foreign currency translation |
— | 0.6 | — | 0.3 | ||||||||||||
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| EBITDAC, as adjusted |
$ | 76.9 | $ | 68.2 | $ | 223.5 | $ | 186.7 | ||||||||
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| Net earnings margin, as reported using reported revenues (before reimbursements) on pages 1 and 2 |
12.1 | % | 12.5 | % | 12.2 | % | 11.8 | % | ||||||||
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| EBITDAC margin, as adjusted using adjusted revenues (before reimbursements) on pages 1 and 2 |
20.8 | % | 20.5 | % | 20.7 | % | 19.7 | % | ||||||||
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(6 of 15)
Corporate Segment Reported GAAP Information (dollars in millions):
| 2024 | 2023 | |||||||||||||||||||||||
| Net Earnings | Net Earnings | |||||||||||||||||||||||
| (Loss) | (Loss) | |||||||||||||||||||||||
| Income | Attributable to |
Income | Attributable to |
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| Pretax | Tax | Controlling | Pretax | Tax | Controlling | |||||||||||||||||||
| 3rd Quarter |
Loss | Benefit | Interests | Loss | Benefit | Interests | ||||||||||||||||||
| Components of Corporate Segment, as reported |
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| Interest and banking costs |
$ | (93.7 | ) | $ | 24.4 | $ | (69.3 | ) | $ | (73.4 | ) | $ | 19.1 | $ | (54.3 | ) | ||||||||
| Clean energy related (1) |
(1.9 | ) | 0.5 | (1.4 | ) | (3.4 | ) | 0.9 | (2.5 | ) | ||||||||||||||
| Acquisition costs (2) |
(15.2 | ) | 2.6 | (12.6 | ) | (7.2 | ) | 1.1 | (6.1 | ) | ||||||||||||||
| Corporate (3) (4) |
(58.5 | ) | 28.3 | (30.2 | ) | (61.7 | ) | 27.9 | (33.8 | ) | ||||||||||||||
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| Reported 3rd quarter |
(169.3 | ) | 55.8 | (113.5 | ) | (145.7 | ) | 49.0 | (96.7 | ) | ||||||||||||||
| Adjustments |
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| Transaction-related costs (2) |
8.9 | (2.3 | ) | 6.6 | 2.6 | (0.7 | ) | 1.9 | ||||||||||||||||
| Legal and tax related (3) |
— | 3.5 | 3.5 | 20.5 | (2.7 | ) | 17.8 | |||||||||||||||||
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| Components of Corporate Segment, as adjusted |
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| Interest and banking costs |
(93.7 | ) | 24.4 | (69.3 | ) | (73.4 | ) | 19.1 | (54.3 | ) | ||||||||||||||
| Clean energy related (1) |
(1.9 | ) | 0.5 | (1.4 | ) | (3.4 | ) | 0.9 | (2.5 | ) | ||||||||||||||
| Acquisition costs |
(6.3 | ) | 0.3 | (6.0 | ) | (4.6 | ) | 0.4 | (4.2 | ) | ||||||||||||||
| Corporate (4) |
(58.5 | ) | 31.8 | (26.7 | ) | (41.2 | ) | 25.2 | (16.0 | ) | ||||||||||||||
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| Adjusted 3rd quarter |
$ | (160.4 | ) | $ | 57.0 | $ | (103.4 | ) | $ | (122.6 | ) | $ | 45.6 | $ | (77.0 | ) | ||||||||
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| Nine months |
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| Components of Corporate Segment, as reported |
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| Interest and banking costs |
$ | (281.8 | ) | $ | 73.3 | $ | (208.5 | ) | $ | (220.6 | ) | $ | 57.4 | $ | (163.2 | ) | ||||||||
| Clean energy related (1) |
(6.0 | ) | 1.4 | (4.6 | ) | (8.8 | ) | 2.3 | (6.5 | ) | ||||||||||||||
| Acquisition costs (2) |
(27.2 | ) | 4.6 | (22.6 | ) | (23.6 | ) | 3.6 | (20.0 | ) | ||||||||||||||
| Corporate (3) (4) |
(157.0 | ) | 104.8 | (52.2 | ) | (164.9 | ) | 105.9 | (59.0 | ) | ||||||||||||||
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| Reported nine months |
(472.0 | ) | 184.1 | (287.9 | ) | (417.9 | ) | 169.2 | (248.7 | ) | ||||||||||||||
| Adjustments |
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| Transaction-related costs (2) |
14.9 | (3.3 | ) | 11.6 | 10.2 | (2.6 | ) | 7.6 | ||||||||||||||||
| Legal and tax related (3) |
— | 3.5 | 3.5 | 26.0 | (3.2 | ) | 22.8 | |||||||||||||||||
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| Components of Corporate Segment, as adjusted |
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| Interest and banking costs |
(281.8 | ) | 73.3 | (208.5 | ) | (220.6 | ) | 57.4 | (163.2 | ) | ||||||||||||||
| Clean energy related (1) |
(6.0 | ) | 1.4 | (4.6 | ) | (8.8 | ) | 2.3 | (6.5 | ) | ||||||||||||||
| Acquisition costs |
(12.3 | ) | 1.3 | (11.0 | ) | (13.4 | ) | 1.0 | (12.4 | ) | ||||||||||||||
| Corporate (4) |
(157.0 | ) | 108.3 | (48.7 | ) | (138.9 | ) | 102.7 | (36.2 | ) | ||||||||||||||
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| Adjusted nine months |
$ | (457.1 | ) | $ | 184.3 | $ | (272.8 | ) | $ | (381.7 | ) | $ | 163.4 | $ | (218.3 | ) | ||||||||
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| (1) | Pretax loss for the third quarter is presented net of amounts attributable to noncontrolling interests of zero in 2024 and $(0.6) million in 2023. Pretax loss for the nine-months ended September 30 is presented net of amounts attributable to noncontrolling interests of zero in 2024 and $(2.0) million in 2023. |
| (2) | Gallagher incurred transaction-related costs, which include legal, consulting, employee compensation and other professional fees associated with completed, future and terminated acquisitions. Costs primarily relate to the acquisitions of the Willis Towers Watson treaty reinsurance brokerage operations, the acquisition of Buck, which closed on April 3, 2023, and the acquisitions of Cadence Insurance, Eastern Insurance Group and My Plan Manager, all of which closed in fourth quarter 2023. |
| (3) | Adjustments in third quarter 2024 and 2023 include costs associated with legal and tax matters. Adjustments in second quarter 2023 include additional U.K. income tax expense related to the non-deductibility of acquisition-related adjustments made in the quarter and costs associated with legal and tax matters. |
(7 of 15)
| (4) | 企業稅前虧損包括未實現外匯重估虧損淨額（14.9）百萬美元 2024 年第三季度，未實現外匯重估淨收益為 1.4 萬美元。企業稅前虧損包括截至九個月期間內的未實現外匯重估虧損淨 (16.5) 百萬元 2024 年 9 月 30 日，截至二零二三年九月三十日止九個月期間，未實現外匯重估虧損淨額（8.3 百萬美元）。 |
利息和銀行費用及 債務- 在 2024 年 9 月 30 日，加拉赫從公債中的貸款額有 4,550.0 億美元， 自私人投資貸款額為 3,523.0 百萬元，並且根據其信貸額定額沒有借貸。此外，Gallagher 在一項循環貸款設施下還有 259.9 萬美元的未償還，該機構為高級融資提供資金 應收帳款，由保險公司持有的相關保費完全抵押，並因此不包括在其債務契約計算中。2024 年第三季及截至九個月期間的利息及銀行成本 2024 年 9 月 30 日比 2023 年同期高，主要是由於 2023 年第四季和 2024 年第一季發行的債務發行。
清潔能源相關- 2024 年，這包括與 Gallagher 對新的清潔能源項目的投資有關的營運結果。
採購成本- 主要包括外部專業費用和與收購相關的其他盡職調查費用。有時，加拉赫進入 針對以美元以外的貨幣以外的貨幣資金需求為已承諾但尚未獲資金的收購買入價格進行遠期貨幣對沖。與這些對沖交易相關的利潤或虧損也是 包括在採購成本中。
企業- 由主要與企業員工薪酬、其他公司級別有關的經費配置組成 活動，以及未實現外匯重估淨值。此外，它還包括與外國收入部分徵稅有關的稅費，不可扣除的行政補償和娛樂開支，以及從而獲得的稅收益。 授予員工股權獎勵，以及其他未反映在經紀和風險管理部門所得稅預備款中的永久性或分散稅項目。
所得稅 -Gallagher 根據當地國家的法定，將所得稅的預備分配給其經紀和風險管理部門 費率。加拉赫截至二零二四年九月三十日止季度的綜合實際稅率分別為 22.1% 和 22.2%。
網路廣播電話會議 -加拉赫將於 2024 年 10 月 24 日（星期四）下午 5 時 15 分/下午 4 時 15 分舉辦網絡廣播電話會議。要聆聽 此電話，請轉到 亞瑟 ·J· 加拉格爾及公司-活動和演示（ajg.com）。 電話將在該網站上播放至少 90 天。
關於亞瑟 ·J· 加拉格爾及公司
亞瑟 ·J. Gallagher & Co. 是一家全球保險經紀、風險管理和諮詢服務公司，總部位於伊利諾伊州羅林梅多斯。Gallagher 通過其擁有在全球約 130 個國家提供這些服務 營運和通訊經紀人和顧問的網絡。
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有關前瞻性聲明的信息
本新聞稿包含 1995 年《私人證券訴訟改革法》的「前瞻性聲明」。當使用在 這份新聞稿中包含「預期」、「相信」、「思考」、「看見」、「應該」、「可能」、「願意」、「估計」、「期望」、「擬定」、「擬定」。 「計劃」及其變更以及類似的表達，旨在識別前瞻性聲明。前瞻性聲明的範例包括但不限於任何部門的預期未來業績或表現 或 Gallagher 整體；有關其未來幾個季度開支變動的聲明；未來資本結構變化，包括不時債務水平；外幣對其業績的影響；整合成本； 勞動力和租賃終止費用；無形資產的攤銷；折舊；估計應付應付款額的變化；實際稅率；可歸屬於非控股權益的持續經營收益；保費率環境 以及保險市場的狀況；以及經濟環境。
加拉赫的實際結果可能與計劃的實際結果有所不同 前瞻性聲明。因此，請警告讀者不要依賴任何前瞻性聲明，這些聲明既不是歷史事實聲明，也不是對未來表現的保證或保證。
可能導致實際結果與前瞻性聲明中的重要因素有所不同，包括全球經濟和地緣政治 事件，包括利息和通脹率波動，金融機構和其他對手的失敗，美國政府潛在關閉，以及政治暴力和不穩定，例如烏克蘭戰爭和 中東地區或美國選舉的結果；其實際收購機會，包括與待收購有關的收購風險；與收購相關的風險，與收購相關的風險比平常規模更大 嵌入式 收購，例如收購威利斯塔沃森協定再保險經紀業務、Buck、Cadence 保險、東方保險集團和我的計劃經理，包括有關的風險 其成功整合營運的能力（包括因應不時轉換服務協議而需要轉換的技術和金融系統）的能力，其假設可能是 不準確，導致不可預見的義務或責任，並未能實現這些收購所帶來的預期利益；因負面觀感或宣傳而損害其聲譽，包括由於擴大影響 互聯網和社交媒體可能對此類觀感，以及與其相關的聲譽問題 ESG 相關 活動和遵守日益複雜的氣候相關法規，例如與風險相關 「綠化」；與網絡安全相關的風險；其有效應用技術、數據分析和人工智能的能力，以及由此類活動產生的潛在增加成本；與使用相關的相關風險 其業務運作中的人工智能，包括監管、數據隱私、網絡安全、E&O 和競爭風險；對人才的競爭激烈和增加的賠償成本；災難或其他業務中斷； 包括與其在印度的業務有關；與其國際業務相關的風險，例如與監管、稅務、ESG、制裁和反腐敗合規相關的風險；資料隱私和保護法律和法規的變更； 外匯匯率；會計準則的變動；保費率及一般保險市場的變化，包括重大自然事件的影響以及再保險及保險相關證券市場發展的影響，以及 因此發展而導致的訴訟；與其遺產清潔能源投資有關的稅務、環境或其他合規風險；其無法從附屬公司領取股息或其他派發；以及保險的變動 經紀行業的競爭環境。
請參閱 Gallagher 向證券交易委員會提交的文件，包括第 1A 項， 其年度表格報告的「風險因素」 10-K 截至二零二三年十二月三十一日止財政年度及其隨後遞交的表格按季度報告 10-Q 更詳細討論這些和其他可能影響其前瞻性聲明的因素。Gallagher 在本新聞稿中發表的任何前瞻性聲明僅在發表的日期為止。除非要求 適用法律，Gallagher 不承諾更新此處所包含的信息或發布在 Gallagher 網站上的相應收益公佈。
有關的信息 非 GAAP 措施
除了根據 GAAP 報告財務業績外，本新聞稿還提供有關 EBITDAC、EBITDAC 保證金調整後的信息 EBITDAC、經調整後的 EBITDAC 利潤、調整後的每股淨利潤（經調整後的每股盈利）、調整後的收入、調整後的補償和營運費用、調整後的補償費用比率、調整後的營運費用比率和有機 收入。這些措施不符合本新聞稿中提供的 GAAP 信息，也不符合或替代方案。Gallagher 的管理層認為，這些演示會為管理層和分析師提供有用的信息 和投資者有關與 Gallagher 的營運業績和財務狀況有關的金融和商業趨勢，或是因為他們為投資者提供其首席營運決策者在審查時使用的措施 加拉赫的表現。有關這些措施對投資者有用的定義和其他原因，請參閱下面的進一步瞭解。加拉赫的行業同業可能會提供類似的補充 非 GAAP 有關其中一項或多項措施的資料，儘管這些措施可能不使用相同或可比較的術語，也可能不會進行相同的調整。 非 GAAP 提供的信息 Gallagher 應該除了提供的 GAAP 信息之外，但不能替代它們。正如其最近的代表委任聲明中所述，Gallagher 就執行官獎勵的某些元素作出決定 薪酬、績效股份獎勵和年度現金激勵獎勵計劃，部分是以調整後 EBITDAC 相關的措施為基礎。
（9 個，共 15 個）
以下表格將債務對負債淨額和優先股進行調和，並計算截至當期的調整後稅前淨利潤比率。 非美國通用會計準則 簡報 - 蓋亞保認為，在 調整後 非核心概念（non-GAAP） 分析蓋亞保業務成果時，本財報提供的當前和前期信息的展示可為股東和其他相關人士提供有用信息，或許有助於這些人分析蓋亞保的經營業績，並制定未來蓋亞保盈利前景。 后稅基礎上的 有關 調整金額是根據各個期間的規範有效稅率計算的。請參見第 14 和 15 頁，了解對所得稅所作的調整。
| • | 調整過的措施 - 營收（券商業務部門）, 退款前營收（風險管理部門）, 淨收益, 薪酬支出和營運支出分別進行調整，以便排除以下相應的項目，如適用： |
| • | 非常優錢 (損失) 用於出售業務書籍和其他攬售交易所收到的主要淨收益，例如通過出售或倒閉將某個業務處分的款項。 |
| • | 併購整合成本，其中包括與某些重大併購有關的成本（包括Willis Towers Watson轉移再保險券商業務、Buck、Cadence Insurance、Eastern Insurance Group和My Plan Manager 的併購），超出日常策略範圍之外，預計薩爾蒙完全吸收相應的併購後，未來不會再發生。這些成本通常與重複的勞動力、與某些保留獎金安排攤銷有關的薪酬支出、額外的租賃空間、重複服務以及為將併購吸收至其相關IT系統中所產生的外部成本有關。 滲透式 策略，不預計於將來薩爾蒙完全吸收適用的併購後繼續發生。這些成本通常與重複的勞動力、與某些保留獎金安排攤銷有關的薪酬支出、額外的租賃空間、重複服務以及為將併購吸收至其IT 相關系統中所產生的外部成本有關。 |
| • | 交易相關成本，這些成本與已完成、將來和終止的併購有關。這些成本主要與Willis Towers Watson轉移再保險券商業務、Buck、Cadence Insurance、Eastern Insurance Group和My Plan Manager 的併購相關。這些包括與監管申報、法律和會計服務、保險和獎勵性薪酬有關的成本。 |
| • | 勞動力相關費用，主要包括與員工解雇有關的遣散費用（已計提或已支付）及與重複勞動力相關的其他成本。 |
| • | 與房地產租賃終止相關的費用主要包括與房地產租約終止和租用空間遺棄有關的成本。 |
| • | 收購相關調整主要涉及估計的收購贏利支付調整和相關收購補償費用的變動。此外，可能會包括因符合會計原則、購買相關的、 和其他賬面調整而導致的賬面估計變動。這些對2024年第一季度業績的淨影響大約為2600萬美元的收入和2800萬美元的補償支出。 調整以及在截止日期後進行的其他賬面調整；這些對2024年第一季度業績的淨影響大約為2600萬美元的收入和2800萬美元的補償支出。 |
| • | 無形資產攤銷，反映了Gallagher透過併購策略獲得的客戶/到期名單、協議、商標和其他無形資產的攤銷。收購估值調整對這些 資產攤銷費用的影響以及 非竞争 合同、商標和通過Gallagher的併購策略獲得的其他無形資產。收購估值調整對這些資產攤銷費用的影響以及 项目和某些变量收费项不随我们操作变化而变动的 減損費。 |
| • | 匯率變動影響，適用時。有關匯率 變動之除外金額是通過將本年度的外匯匯率應用於前一年同一時期的金額計算。 |
| • | 有效所得稅率影響，以當年所得稅率的變動衡量前一年。 |
| • | 法律和稅務相關，代表（a）調整2024年第三季和2023年乙方 與法律和稅務事項相關成本有關之，以及（b）調整2023年第二季關於額外英國所得稅費用，為關於 不可抵減性的 與收購相關調整 在該季進行，以及與法律和稅務事項相關之成本。 |
| • | 調整後比率 - 調整後的薪酬支出和調整後的營業支出，分別除以 調整後的收入。 |
非美國通用會計準則 收益指標
| • | EBITDAC 以及EBITDAC毛利率 - EBITDAC是指息稅前純利、折舊、攤銷及預估收購之應付業績奬金改變前之純利，而EBITDAC毛利率則是EBITDAC除以總營收（券商部門）和扣除補貼前營收（風險管理部門）。這些指標適用於券商和風險管理部門，能有效反映加拉格爾整體業務的運營表現，並提供評估其財務表現的有意義方式。 |
| • | 經調整的EBITDAC 以及經調整的EBITDAC毛利率 - 經調整的EBITDAC是指調整後的EBITDAC，排除了副業出售之淨利、收購整合成本、與員工相關費用、租賃終止相關費用、收購相關調整、交易相關成本、法律和稅務相關成本，以及外幣翻譯效應的期間對期間影響（如適用）。而經調整的EBITDAC毛利率則是經調整的EBITDAC除以總調整後營收（如上所定義）。這些指標適用於券商和風險管理部門，能有效反映加拉格爾的運營表現，同時也用於提高其各期之間的比較性，消除具有高度變異性項目的影響。 |
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| • | EPS, as Adjusted and Net Earnings, as Adjusted - Adjusted net earnings have been adjusted to exclude the after-tax impact of net gains on divestitures, acquisition integration costs, the impact of foreign currency translation, workforce related charges, lease termination related charges, acquisition related adjustments, transaction related costs, amortization of intangible assets, legal and tax related costs and effective income tax rate impact, as applicable. Adjusted EPS is Adjusted Net Earnings divided by diluted weighted average shares outstanding. This measure provides a meaningful representation of Gallagher’s operating performance (and as such should not be used as a measure of Gallagher’s liquidity), and for the overall business is also presented to improve the comparability of its results between periods by eliminating the impact of the items that have a high degree of variability. |
Organic Revenues (a non-GAAP measure) - For the Brokerage segment, organic change in base commission and fee revenues, supplemental revenues and contingent revenues exclude the first twelve months of such revenues generated from acquisitions and such revenues related to divested operations, which include disposals of a business through sale or closure, run-off of a business and the restructuring and/or repricing of programs and products, in each year presented. These revenues are excluded from organic revenues in order to help interested persons analyze the revenue growth associated with the operations that were a part of Gallagher in both the current and prior period. In addition, organic change in base commission and fee revenues, supplemental revenues and contingent revenues excludes the period-over-period impact of foreign currency translation to improve the comparability of its results between periods. For the Risk Management segment, organic change in fee revenues excludes the first twelve months of such revenues generated from acquisitions and such revenues related to divested operations in each year presented. In addition, change in organic growth in fee revenues excludes the period-over-period impact of foreign currency translation to improve the comparability of its results between periods.
These revenue items are excluded from organic revenues in order to determine a comparable, but non-GAAP, measurement of revenue growth that is associated with the revenue sources that are expected to continue in the current year and beyond, as well as eliminating the impact of the items that have a high degree of variability. Gallagher has historically viewed organic revenue growth as an important indicator when assessing and evaluating the performance of its Brokerage and Risk Management segments. Gallagher also believes that using this non-GAAP measure allows readers of its financial statements to measure, analyze and compare the growth from its Brokerage and Risk Management segments in a meaningful and consistent manner.
Reconciliation of Non-GAAP Information Presented to GAAP Measures - This press release includes tabular reconciliations to the most comparable GAAP measures, as follows: for EBITDAC (on pages 12 and 13), for adjusted revenues, adjusted EBITDAC and adjusted diluted net earnings per share (on pages 1 and 2), for organic revenue measures (on pages 3 and 5, respectively, for the Brokerage and Risk Management segments), for adjusted compensation and operating expenses and adjusted EBITDAC margin (on pages 4, 5 and 6, respectively, for the Brokerage and Risk Management segments).
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Arthur J. Gallagher & Co.
Reported Statement of Earnings and EBITDAC - 3rd Quarter September 30,
(Unaudited - in millions except per share, percentage and workforce data)
| 3rd Q Ended | 3rd Q Ended | 9 Mths Ended | 9 Mths Ended | |||||||||||||
| Brokerage Segment |
Sept 30, 2024 | Sept 30, 2023 | Sept 30, 2024 | Sept 30, 2023 | ||||||||||||
| Commissions |
$ | 1,537.8 | $ | 1,381.2 | $ | 5,193.2 | $ | 4,539.0 | ||||||||
| Fees |
585.2 | 523.0 | 1,669.5 | 1,414.2 | ||||||||||||
| Supplemental revenues |
79.1 | 70.8 | 261.7 | 223.6 | ||||||||||||
| Contingent revenues |
69.3 | 53.9 | 215.1 | 179.9 | ||||||||||||
| Interest income, premium finance revenues and other income |
125.0 | 93.2 | 298.1 | 229.0 | ||||||||||||
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| Total revenues |
2,396.4 | 2,122.1 | 7,637.6 | 6,585.7 | ||||||||||||
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| Compensation |
1,362.9 | 1,189.7 | 4,210.0 | 3,592.2 | ||||||||||||
| Operating |
342.0 | 320.9 | 1,019.3 | 937.6 | ||||||||||||
| Depreciation |
34.0 | 32.9 | 99.1 | 91.4 | ||||||||||||
| Amortization |
161.0 | 127.2 | 487.8 | 380.8 | ||||||||||||
| Change in estimated acquisition earnout payables |
(15.4 | ) | (2.6 | ) | (12.9 | ) | 48.3 | |||||||||
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| Expenses |
1,884.5 | 1,668.1 | 5,803.3 | 5,050.3 | ||||||||||||
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| Earnings before income taxes |
511.9 | 454.0 | 1,834.3 | 1,535.4 | ||||||||||||
| Provision for income taxes |
128.9 | 115.0 | 465.9 | 390.8 | ||||||||||||
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|
|
|
|
|
|||||||||
| Net earnings |
383.0 | 339.0 | 1,368.4 | 1,144.6 | ||||||||||||
| Net earnings attributable to noncontrolling interests |
1.5 | 3.1 | 7.8 | 5.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net earnings attributable to controlling interests |
$ | 381.5 | $ | 335.9 | $ | 1,360.6 | $ | 1,138.7 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
||||||||||||||||
| Net earnings |
$ | 383.0 | $ | 339.0 | $ | 1,368.4 | $ | 1,144.6 | ||||||||
| Provision for income taxes |
128.9 | 115.0 | 465.9 | 390.8 | ||||||||||||
| Depreciation |
34.0 | 32.9 | 99.1 | 91.4 | ||||||||||||
| Amortization |
161.0 | 127.2 | 487.8 | 380.8 | ||||||||||||
| Change in estimated acquisition earnout payables |
(15.4 | ) | (2.6 | ) | (12.9 | ) | 48.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
$ | 691.5 | $ | 611.5 | $ | 2,408.3 | $ | 2,055.9 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 3rd Q Ended | 3rd Q Ended | 9 Mths Ended | 9 Mths Ended | |||||||||||||
| Risk Management Segment |
Sept 30, 2024 | Sept 30, 2023 | Sept 30, 2024 | Sept 30, 2023 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Fees |
$ | 359.8 | $ | 323.1 | $ | 1,053.8 | $ | 928.1 | ||||||||
| Interest income and other income |
9.9 | 7.9 | 27.3 | 19.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Revenues before reimbursements |
369.7 | 331.0 | 1,081.1 | 947.2 | ||||||||||||
| Reimbursements |
40.3 | 38.4 | 118.3 | 106.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total revenues |
410.0 | 369.4 | 1,199.4 | 1,053.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Compensation |
224.6 | 199.2 | 657.7 | 569.3 | ||||||||||||
| Operating |
71.0 | 65.0 | 206.5 | 194.7 | ||||||||||||
| Reimbursements |
40.3 | 38.4 | 118.3 | 106.6 | ||||||||||||
| Depreciation |
9.6 | 8.8 | 27.3 | 26.5 | ||||||||||||
| Amortization |
3.7 | 1.5 | 10.0 | 4.5 | ||||||||||||
| Change in estimated acquisition earnout payables |
0.1 | 0.1 | 0.3 | 0.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Expenses |
349.3 | 313.0 | 1,020.1 | 902.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Earnings before income taxes |
60.7 | 56.4 | 179.3 | 151.8 | ||||||||||||
| Provision for income taxes |
16.1 | 14.9 | 47.6 | 40.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net earnings |
44.6 | 41.5 | 131.7 | 111.7 | ||||||||||||
| Net earnings attributable to noncontrolling interests |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net earnings attributable to controlling interests |
$ | 44.6 | $ | 41.5 | $ | 131.7 | $ | 111.7 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
||||||||||||||||
| Net earnings |
$ | 44.6 | $ | 41.5 | $ | 131.7 | $ | 111.7 | ||||||||
| Provision for income taxes |
16.1 | 14.9 | 47.6 | 40.1 | ||||||||||||
| Depreciation |
9.6 | 8.8 | 27.3 | 26.5 | ||||||||||||
| Amortization |
3.7 | 1.5 | 10.0 | 4.5 | ||||||||||||
| Change in estimated acquisition earnout payables |
0.1 | 0.1 | 0.3 | 0.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
$ | 74.1 | $ | 66.8 | $ | 216.9 | $ | 183.2 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See “Information Regarding Non-GAAP Measures” beginning on page 9 of 15.
(12 of 15)
Arthur J. Gallagher & Co.
Reported Statement of Earnings and EBITDAC - 3rd Quarter September 30,
(Unaudited - in millions except share and per share data)
| 3rd Q Ended | 3rd Q Ended | 9 Mths Ended | 9 Mths Ended | |||||||||||||
| Corporate Segment |
Sept 30, 2024 | Sept 30, 2023 | Sept 30, 2024 | Sept 30, 2023 | ||||||||||||
| Other income |
$ | 0.4 | $ | 0.5 | $ | 1.9 | $ | 0.5 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total revenues |
0.4 | 0.5 | 1.9 | 0.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Compensation |
34.4 | 35.6 | 100.2 | 91.5 | ||||||||||||
| Operating |
40.7 | 37.1 | 89.2 | 106.8 | ||||||||||||
| Interest |
92.9 | 72.8 | 279.4 | 218.5 | ||||||||||||
| Depreciation |
1.7 | 1.3 | 5.1 | 3.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Expenses |
169.7 | 146.8 | 473.9 | 420.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Loss before income taxes |
(169.3 | ) | (146.3 | ) | (472.0 | ) | (419.9 | ) | ||||||||
| Benefit for income taxes |
(55.8 | ) | (49.0 | ) | (184.1 | ) | (169.2 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loss |
(113.5 | ) | (97.3 | ) | (287.9 | ) | (250.7 | ) | ||||||||
| Net loss attributable to noncontrolling interests |
— | (0.6 | ) | — | (2.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loss attributable to controlling interests |
$ | (113.5 | ) | $ | (96.7 | ) | $ | (287.9 | ) | $ | (248.7 | ) | ||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
||||||||||||||||
| Net loss |
$ | (113.5 | ) | $ | (97.3 | ) | $ | (287.9 | ) | $ | (250.7 | ) | ||||
| Benefit for income taxes |
(55.8 | ) | (49.0 | ) | (184.1 | ) | (169.2 | ) | ||||||||
| Interest |
92.9 | 72.8 | 279.4 | 218.5 | ||||||||||||
| Depreciation |
1.7 | 1.3 | 5.1 | 3.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
$ | (74.7 | ) | $ | (72.2 | ) | $ | (187.5 | ) | $ | (197.8 | ) | ||||
|
|
|
|
|
|
|
|
|
|||||||||
| 3rd Q Ended | 3rd Q Ended | 9 Mths Ended | 9 Mths Ended | |||||||||||||
| Total Company |
Sept 30, 2024 | Sept 30, 2023 | Sept 30, 2024 | Sept 30, 2023 | ||||||||||||
| Commissions |
$ | 1,537.8 | $ | 1,381.2 | $ | 5,193.2 | $ | 4,539.0 | ||||||||
| Fees |
945.0 | 846.1 | 2,723.3 | 2,342.3 | ||||||||||||
| Supplemental revenues |
79.1 | 70.8 | 261.7 | 223.6 | ||||||||||||
| Contingent revenues |
69.3 | 53.9 | 215.1 | 179.9 | ||||||||||||
| Interest income, premium finance revenues and other income |
135.3 | 101.6 | 327.3 | 248.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Revenues before reimbursements |
2,766.5 | 2,453.6 | 8,720.6 | 7,533.4 | ||||||||||||
| Reimbursements |
40.3 | 38.4 | 118.3 | 106.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total revenues |
2,806.8 | 2,492.0 | 8,838.9 | 7,640.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Compensation |
1,621.9 | 1,424.5 | 4,967.9 | 4,253.0 | ||||||||||||
| Operating |
453.7 | 423.0 | 1,315.0 | 1,239.1 | ||||||||||||
| Reimbursements |
40.3 | 38.4 | 118.3 | 106.6 | ||||||||||||
| Interest |
92.9 | 72.8 | 279.4 | 218.5 | ||||||||||||
| Depreciation |
45.3 | 43.0 | 131.5 | 121.5 | ||||||||||||
| Amortization |
164.7 | 128.7 | 497.8 | 385.3 | ||||||||||||
| Change in estimated acquisition earnout payables |
(15.3 | ) | (2.5 | ) | (12.6 | ) | 48.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Expenses |
2,403.5 | 2,127.9 | 7,297.3 | 6,372.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Earnings before income taxes |
403.3 | 364.1 | 1,541.6 | 1,267.3 | ||||||||||||
| Provision for income taxes |
89.2 | 80.9 | 329.4 | 261.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net earnings |
314.1 | 283.2 | 1,212.2 | 1,005.6 | ||||||||||||
| Net earnings attributable to noncontrolling interests |
1.5 | 2.5 | 7.8 | 3.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net earnings attributable to controlling interests |
$ | 312.6 | $ | 280.7 | $ | 1,204.4 | $ | 1,001.7 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Diluted net earnings per share |
$ | 1.39 | $ | 1.28 | $ | 5.40 | $ | 4.58 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Dividends declared per share |
$ | 0.60 | $ | 0.55 | $ | 1.80 | $ | 1.65 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
||||||||||||||||
| Net earnings |
$ | 314.1 | $ | 283.2 | $ | 1,212.2 | $ | 1,005.6 | ||||||||
| Provision for income taxes |
89.2 | 80.9 | 329.4 | 261.7 | ||||||||||||
| Interest |
92.9 | 72.8 | 279.4 | 218.5 | ||||||||||||
| Depreciation |
45.3 | 43.0 | 131.5 | 121.5 | ||||||||||||
| Amortization |
164.7 | 128.7 | 497.8 | 385.3 | ||||||||||||
| Change in estimated acquisition earnout payables |
(15.3 | ) | (2.5 | ) | (12.6 | ) | 48.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EBITDAC |
$ | 690.9 | $ | 606.1 | $ | 2,437.7 | $ | 2,041.3 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See “Information Regarding Non-GAAP Measures” beginning on page 9 of 15.
(13 of 15)
亞瑟加拉格爾及公司
合併資產負債表
（未經審核 - 單位：百萬美元，除每股數據外）
| 2024年9月30日 | 2023年12月31日 | |||||||
| 現金及現金等價物 |
$ | 2,022.4 | $ | 971.5 | ||||
| 受託資產（2024年包含$6,272.6的受託現金，2023年包含$5,571.8） |
30,836.3 | 26,907.9 | ||||||
| 應收帳款淨額 |
3,988.8 | 3,786.6 | ||||||
| 其他流動資產 |
435.2 | 450.1 | ||||||
|
|
|
|
|
|||||
| 全部流動資產 |
37,282.7 | 32,116.1 | ||||||
| 固定資產-淨值 |
660.1 | 726.4 | ||||||
| 递延所得税（2024年含税款抵扣余额796.5美元及2023年867.4美元） |
1,016.8 | 1,132.3 | ||||||
| 其他非流動資產 |
1,361.8 | 1,131.8 | ||||||
| 租賃資產 |
374.7 | 400.3 | ||||||
| 商譽 |
12,193.4 | 11,475.6 | ||||||
| 可攤銷無形資產-淨值 |
4,353.2 | 4,633.3 | ||||||
|
|
|
|
|
|||||
| 資產總額 |
$ | 57,242.7 | $ | 51,615.8 | ||||
|
|
|
|
|
|||||
| 受託人責任 |
$ | 30,836.3 | $ | 26,907.9 | ||||
| 應計薪酬及其他流動負債 |
3,222.5 | 2,553.1 | ||||||
| 週期性收入－流動 |
680.8 | 644.7 | ||||||
| 保險金融負債 |
259.9 | 289.0 | ||||||
| 企業相關借款－流動 |
200.0 | 670.0 | ||||||
|
|
|
|
|
|||||
| 流動負債合計 |
35,199.5 | 31,064.7 | ||||||
| 企業相關借款－非流動 |
7,791.9 | 7,006.0 | ||||||
| 透過應收之營業收入 - 非流動 |
65.3 | 61.5 | ||||||
| 1,548,243 |
326.2 | 352.2 | ||||||
| 其他非流動負債 |
1,650.2 | 2,316.1 | ||||||
|
|
|
|
|
|||||
| 總負債 |
45,033.1 | 40,800.5 | ||||||
|
|
|
|
|
|||||
| 股東權益： |
||||||||
| 普通股 - 已發行並尚存股份 |
219.4 | 216.7 | ||||||
| 超過票面價值的股本 |
7,697.4 | 7,297.8 | ||||||
| 保留收益 |
4,860.6 | 4,052.9 | ||||||
| 累積其他全面損失 |
(593.4 | ) | (792.1 | ) | ||||
|
|
|
|
|
|||||
| 全部控股權益股東權益 |
12,184.0 | 10,775.3 | ||||||
| 非控制權益 |
25.6 | 40.0 | ||||||
|
|
|
|
|
|||||
| 股東權益總額 |
12,209.6 | 10,815.3 | ||||||
|
|
|
|
|
|||||
| 負債和股東權益總額 |
$ | 57,242.7 | $ | 51,615.8 | ||||
|
|
|
|
|
|||||
亞瑟加拉格爾及公司
其他資訊
(未經審核 - 資料如有所指已四捨五入)
| 第3季結束 | 第3季結束 | 結束的9個月 | 結束的9個月 | |||||||||||||
| 其他信息 | 2024年9月30日 | 2023年9月30日 | 2024年9月30日 | 2023年9月30日 | ||||||||||||
| 基本加權平均股份在外流通（000s） |
219,331 | 215,716 | 218,528 | 214,469 | ||||||||||||
| 稀釋後加權平均股份在外流通（000s） |
223,886 | 220,203 | 222,919 | 218,758 | ||||||||||||
| 期末在外流通的普通股數（000s） |
219,446 | 215,911 | ||||||||||||||
| 期末員工人數（包括收購）： |
||||||||||||||||
| 券商 |
40,997 | 37,503 | ||||||||||||||
| 風險管理 |
10,264 | 9,255 | ||||||||||||||
| 總公司 |
54,691 | 49,720 | ||||||||||||||
非GAAP措施協調 - 稅前 盈利和每股稀釋淨收益（未經審核）
（未經審核 - 以百萬為單位，除了股份和每股數據）
| 淨收益 | 淨收益 | |||||||||||||||||||||||
| 累積盈餘 | 備用款 | (損失) | (損失) | 稀釋淨利潤 | ||||||||||||||||||||
| (損失) | (利益) | 歸屬於 | 使用未分配盈餘 | 累積盈餘 | ||||||||||||||||||||
| 收入前 | 有關收入 | 淨收入 | 非控制權益 | 控制 | (損失) | |||||||||||||||||||
| 稅收 | 稅收 | (損失) | 權益投資 | 權益投資 | 每股股票 | |||||||||||||||||||
| 2024年9月30日結束的第三季度 |
||||||||||||||||||||||||
| 根據報導，券商 |
$ | 511.9 | $ | 128.9 | $ | 383.0 | $ | 1.5 | $ | 381.5 | $ | 1.70 | ||||||||||||
| 資產出售淨利（損） |
(22.5 | ) | (5.7 | ) | (16.8 | ) | — | (16.8 | ) | (0.07 | ) | |||||||||||||
| 收購整合 |
48.7 | 12.4 | 36.3 | — | 36.3 | 0.16 | ||||||||||||||||||
| 員工和租約終止 |
48.5 | 12.3 | 36.2 | — | 36.2 | 0.16 | ||||||||||||||||||
| 併購相關調整 |
2.4 | 0.6 | 1.8 | — | 1.8 | 0.01 | ||||||||||||||||||
| 營業無形資產攤銷 |
161.0 | 41.0 | 120.0 | — | 120.0 | 0.54 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 券商，經過調整 |
$ | 750.0 | $ | 189.5 | $ | 560.5 | $ | 1.5 | $ | 559.0 | $ | 2.50 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 風險管理，按照報告 |
$ | 60.7 | $ | 16.1 | $ | 44.6 | $ | — | $ | 44.6 | $ | 0.20 | ||||||||||||
| 資產出售淨利（損） |
(0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | — | |||||||||||||||
| 收購整合 |
0.9 | 0.3 | 0.6 | — | 0.6 | — | ||||||||||||||||||
| 員工和租約終止 |
2.0 | 0.6 | 1.4 | — | 1.4 | 0.01 | ||||||||||||||||||
| 併購相關調整 |
— | — | — | — | — | — | ||||||||||||||||||
| 營業無形資產攤銷 |
3.7 | 1.0 | 2.7 | — | 2.7 | 0.01 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 風險管理，根據調整 |
$ | 67.2 | $ | 18.0 | $ | 49.2 | $ | — | $ | 49.2 | $ | 0.22 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 企業，如報告 |
$ | (169.3 | ) | $ | (55.8 | ) | $ | (113.5 | ) | $ | — | $ | (113.5 | ) | $ | (0.51 | ) | |||||||
| 交易相關費用 |
8.9 | 2.3 | 6.6 | — | 6.6 | 0.03 | ||||||||||||||||||
| 法律和稅務相關 |
— | (3.5 | ) | 3.5 | — | 3.5 | 0.02 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 企業，根據調整 |
$ | (160.4 | ) | $ | (57.0 | ) | $ | (103.4 | ) | $ | — | $ | (103.4 | ) | $ | (0.46 | ) | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
參閱“相關資訊” 非美國通用會計準則 請參閱第9頁至第15頁的“措施”
(14 of 15)
非依據通用會計準則計算的數據調整 - 稅前收益和稀釋每股淨收益（未經審計） - 持续
（未經審計 - 以百萬為單位，股份和每股數據除外）
| 淨收益 | 淨收益 | |||||||||||||||||||||||
| 累積盈餘 | 備用款 | (損失) | (損失) | 稀釋後淨利 | ||||||||||||||||||||
| (損失) | (利益) | 歸屬於 | 使用未分配盈餘 | 累積盈餘 | ||||||||||||||||||||
| 收入之前 | 用於收入 | 淨收益 | 非控制權益 | 控制 | (損失) | |||||||||||||||||||
| 稅收 | 稅收 | (損失) | 權益投資 | 權益投資 | 每股股票 | |||||||||||||||||||
| 2023年9月30日结束的第三季度 |
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| 根據報導，券商 |
$ | 454.0 | $ | 115.0 | $ | 339.0 | $ | 3.1 | $ | 335.9 | $ | 1.53 | ||||||||||||
| 資產出售淨利（損） |
(0.4 | ) | (0.1 | ) | (0.3 | ) | — | (0.3 | ) | — | ||||||||||||||
| 收購整合 |
57.1 | 14.1 | 43.0 | — | 43.0 | 0.20 | ||||||||||||||||||
| 員工和租約終止 |
7.2 | 1.8 | 5.4 | — | 5.4 | 0.02 | ||||||||||||||||||
| 併購相關調整 |
(7.7 | ) | (1.9 | ) | (5.8 | ) | — | (5.8 | ) | (0.03 | ) | |||||||||||||
| 營業無形資產攤銷 |
127.2 | 31.4 | 95.8 | — | 95.8 | 0.43 | ||||||||||||||||||
| 有效所得稅率影響 |
— | 0.8 | (0.8 | ) | — | (0.8 | ) | — | ||||||||||||||||
| 分級外幣轉換 |
(0.5 | ) | (0.1 | ) | (0.4 | ) | — | (0.4 | ) | — | ||||||||||||||
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| 券商，經過調整 |
$ | 636.9 | $ | 161.0 | $ | 475.9 | $ | 3.1 | $ | 472.8 | $ | 2.15 | ||||||||||||
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| 風險管理，按照報告 |
$ | 56.4 | $ | 14.9 | $ | 41.5 | $ | — | $ | 41.5 | $ | 0.19 | ||||||||||||
| 資產出售淨利（損） |
(0.1 | ) | — | (0.1 | ) | — | (0.1 | ) | — | |||||||||||||||
| 員工和租約終止 |
0.8 | 0.2 | 0.6 | — | 0.6 | — | ||||||||||||||||||
| 併購相關調整 |
0.1 | — | 0.1 | — | 0.1 | — | ||||||||||||||||||
| 營業無形資產攤銷 |
1.5 | 0.3 | 1.2 | — | 1.2 | 0.01 | ||||||||||||||||||
| 分級外幣轉換 |
0.6 | 0.1 | 0.5 | — | 0.5 | — | ||||||||||||||||||
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| 風險管理，經調整 |
$ | 59.3 | $ | 15.5 | $ | 43.8 | $ | — | $ | 43.8 | $ | 0.20 | ||||||||||||
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| 企業，如報告 |
$ | (146.3 | ) | $ | (49.0 | ) | $ | (97.3 | ) | $ | (0.6 | ) | $ | (96.7 | ) | $ | (0.44 | ) | ||||||
| 交易相關費用 |
2.6 | 0.7 | 1.9 | — | 1.9 | 0.01 | ||||||||||||||||||
| 法律和稅務相關 |
20.5 | 2.7 | 17.8 | — | 17.8 | 0.08 | ||||||||||||||||||
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| 企業，經調整 |
$ | (123.2 | ) | $ | (45.6 | ) | $ | (77.6 | ) | $ | (0.6 | ) | $ | (77.0 | ) | $ | (0.35 | ) | ||||||
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| 淨收益 | 淨收益 | |||||||||||||||||||||||
| 累積盈餘 | 備用款 | (損失) | (損失) | 稀釋後淨 | ||||||||||||||||||||
| (損失) | (利益) | 歸屬於 | 使用未分配盈餘 | 累積盈餘 | ||||||||||||||||||||
| 收益之前 | 有關收入 | 净收入 | 非控制權益 | 控制 | (損失) | |||||||||||||||||||
| 稅收 | 稅收 | (損失) | 權益投資 | 權益投資 | 每股 | |||||||||||||||||||
| 2024年9個月截至9月30日 |
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| 根據報導，券商 |
$ | 1,834.3 | $ | 465.9 | $ | 1,368.4 | $ | 7.8 | $ | 1,360.6 | $ | 6.10 | ||||||||||||
| 資產出售淨利（損） |
(25.0 | ) | (6.4 | ) | (18.6 | ) | — | (18.6 | ) | (0.08 | ) | |||||||||||||
| 收購整合 |
151.0 | 38.3 | 112.7 | — | 112.7 | 0.51 | ||||||||||||||||||
| 員工和租約終止 |
88.0 | 22.4 | 65.6 | — | 65.6 | 0.29 | ||||||||||||||||||
| 併購相關調整 |
32.3 | 8.0 | 24.3 | (3.0 | ) | 27.3 | 0.11 | |||||||||||||||||
| 營業無形資產攤銷 |
487.8 | 123.6 | 364.2 | — | 364.2 | 1.63 | ||||||||||||||||||
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| 券商，經調整 |
$ | 2,568.4 | $ | 651.8 | $ | 1,916.6 | $ | 4.8 | $ | 1,911.8 | $ | 8.56 | ||||||||||||
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| 風險管理，按照報告 |
$ | 179.3 | $ | 47.6 | $ | 131.7 | $ | — | $ | 131.7 | $ | 0.59 | ||||||||||||
| 收購整合 |
1.8 | 0.5 | 1.3 | — | 1.3 | — | ||||||||||||||||||
| 員工和租約終止 |
4.6 | 1.2 | 3.4 | — | 3.4 | 0.02 | ||||||||||||||||||
| 併購相關調整 |
0.2 | — | 0.2 | — | 0.2 | — | ||||||||||||||||||
| 營業無形資產攤銷 |
10.0 | 2.8 | 7.2 | — | 7.2 | 0.03 | ||||||||||||||||||
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| 風險管理，經調整 |
$ | 195.9 | $ | 52.2 | $ | 143.7 | $ | — | $ | 143.7 | $ | 0.64 | ||||||||||||
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| 企業，如報告 |
$ | (472.0 | ) | $ | (184.1 | ) | $ | (287.9 | ) | $ | — | $ | (287.9 | ) | $ | (1.29 | ) | |||||||
| 交易相關費用 |
14.9 | 3.3 | 11.6 | — | 11.6 | 0.05 | ||||||||||||||||||
| 法律和稅務相關 |
— | (3.5 | ) | 3.5 | — | 3.5 | 0.02 | |||||||||||||||||
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| 公司，如調整 |
$ | (457.1 | ) | $ | (184.3 | ) | $ | (272.8 | ) | $ | — | $ | (272.8 | ) | $ | (1.22 | ) | |||||||
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| 淨收益 | 淨收益 | |||||||||||||||||||||||
| 累積盈餘 | 備用款 | (損失) | (損失) | 稀釋淨利 | ||||||||||||||||||||
| (損失) | (利益) | 歸屬於 | 使用未分配盈餘 | 累積盈餘 | ||||||||||||||||||||
| 收益前 | 有關收入 | 淨收益 | 非控制權益 | 控制 | (損失) | |||||||||||||||||||
| 稅收 | 稅收 | (損失) | 權益投資 | 權益投資 | 每股股票 | |||||||||||||||||||
| 2023年9月30日截至之9個月 |
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| 根據報導，券商 |
$ | 1,535.4 | $ | 390.8 | $ | 1,144.6 | $ | 5.9 | $ | 1,138.7 | $ | 5.21 | ||||||||||||
| 資產出售淨利（損） |
(5.6 | ) | (1.3 | ) | (4.3 | ) | — | (4.3 | ) | (0.02 | ) | |||||||||||||
| 收購整合 |
176.4 | 42.5 | 133.9 | — | 133.9 | 0.61 | ||||||||||||||||||
| 員工和租約終止 |
54.3 | 13.4 | 40.9 | — | 40.9 | 0.19 | ||||||||||||||||||
| 併購相關調整 |
26.6 | 6.1 | 20.5 | — | 20.5 | 0.09 | ||||||||||||||||||
| 營業無形資產攤銷 |
380.8 | 95.7 | 285.1 | — | 285.1 | 1.30 | ||||||||||||||||||
| 有效所得稅率影響 |
— | 3.5 | (3.5 | ) | — | (3.5 | ) | (0.02 | ) | |||||||||||||||
| 分級外幣轉換 |
(5.4 | ) | (1.2 | ) | (4.2 | ) | — | (4.2 | ) | (0.02 | ) | |||||||||||||
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| 券商，經調整後 |
$ | 2,162.5 | $ | 549.5 | $ | 1,613.0 | $ | 5.9 | $ | 1,607.1 | $ | 7.34 | ||||||||||||
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| 風險管理，按照報告 |
$ | 151.8 | $ | 40.1 | $ | 111.7 | $ | — | $ | 111.7 | $ | 0.51 | ||||||||||||
| 資產出售淨利（損） |
(0.3 | ) | — | (0.3 | ) | — | (0.3 | ) | — | |||||||||||||||
| 員工和租約終止 |
2.4 | 0.6 | 1.8 | — | 1.8 | 0.01 | ||||||||||||||||||
| 併購相關調整 |
0.3 | — | 0.3 | — | 0.3 | — | ||||||||||||||||||
| 收購整合 |
0.8 | 0.3 | 0.5 | — | 0.5 | — | ||||||||||||||||||
| 營業無形資產攤銷 |
4.5 | 1.2 | 3.3 | — | 3.3 | 0.02 | ||||||||||||||||||
| 分級外幣轉換 |
0.4 | — | 0.4 | — | 0.4 | — | ||||||||||||||||||
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| 風險管理，經調整 |
$ | 159.9 | $ | 42.2 | $ | 117.7 | $ | — | $ | 117.7 | $ | 0.54 | ||||||||||||
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| 企業，如報告 |
$ | (419.9 | ) | $ | (169.2 | ) | $ | (250.7 | ) | $ | (2.0 | ) | $ | (248.7 | ) | $ | (1.14 | ) | ||||||
| 交易相關費用 |
10.2 | 2.6 | 7.6 | — | 7.6 | 0.03 | ||||||||||||||||||
| 法律和稅務相關 |
26.0 | 3.2 | 22.8 | — | 22.8 | 0.11 | ||||||||||||||||||
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| 企業，經調整 |
$ | (383.7 | ) | $ | (163.4 | ) | $ | (220.3 | ) | $ | (2.0 | ) | $ | (218.3 | ) | $ | (1.00 | ) | ||||||
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請參閱第9頁的“有關非依照通用會計原則衡量財務指標的信息”
聯繫方式：
雷伊阿爾德拉
副總裁-投資者關係
630-285-3661 或 ray_iardella@ajg.com
(15 of 15)