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Arthur J. Gallagher Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Arthur J. Gallagher holds $78.3B in total assets. Shareholders' equity is $23.8B against $14.7B in total debt. Cash and equivalents total $1.4B. The current ratio is 1.06 and debt-to-equity is 0.616. Based on the Q1 2026 filing.

Total Assets$78.3BTotal Stockholders Equity$23.8BLong Term Debt$12.9BCash And Equivalents$1.4BTotal Current Assets$42.0BTotal Current Liabilities$39.5B
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$50.7B
P/E Ratio31.47
ROE6.99%

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$3.9B$4.5B$4.7B$5.4B$5.2B$6.0B
Cash and cash equivalents$15.0B$16.7B$14.3B$1.4B$1.4B$1.4B
Other current assets$518.0M$457.8M$505.1M$711.0M$886.0M$773.0M
Restricted cash$228.0M$209.0M$231.2M$234.3M$241.0M$240.0M
Total current assets$44.1B$53.4B$57.8B$43.0B$34.4B$42.0B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accumulated other comprehensive income (loss)-$1.2B-$934.0M-$500.3M-$581.3M-$525.0M-$566.0M
Additional paid-in capital$16.1B$17.5B$17.5B$17.7B$17.8B$17.6B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$250.0M$256.1M$256.4M$256.8M$257.0M$257.0M
Retained earnings$5.0B$5.5B$5.7B$5.8B$5.8B$6.4B
Total liabilities and stockholders' equity$64.3B$74.1B$80.1B$79.1B$70.7B$78.3B
Total Net Tangible Assets——$1.9B$15.8B$16.3B$334.0M
Total stockholders' equity$20.2B$22.3B$23.0B$23.2B$23.3B$23.8B

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred income$537.2M$629.3M$627.7M$767.3M$737.0M$809.0M
Current portion of long-term debt$200.0M$515.0M$640.0M$770.0M$640.0M$640.0M
Short-term borrowings$200.0M$515.0M$640.0M$770.0M$640.0M$640.0M
Total current liabilities$29.3B$37.0B$42.5B$40.8B$32.5B$39.5B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Tax Assets and Other Non-Current Assets$3.0M———$7.0M—
Deferred Tax Assets - Tax Credit Carryforwards$771.8M—$684.5M$706.3M$713.0M$655.0M
Goodwill$12.3B$12.7B$13.7B$22.2B$22.6B$23.0B
Deferred tax assets$959.1M$890.2M$691.6M$29.4M$43.0M$43.0M
Prepaid pension assets$16.0M———$17.0M—
Intangible assets — net$4.5B$4.5B$5.1B$10.8B$10.7B$10.4B
Other intangible assets—net$4.5B$4.5B$5.1B$10.8B$10.7B$10.4B
Operating lease right-of-use assets$377.8M$377.3M$456.6M$630.2M$598.0M$585.0M
Other non-current assets$1.4B$1.5B$1.6B$1.6B$1.6B$1.6B
Property, plant and equipment at cost$1.8B———$2.3B—
Accumulated depreciation$1.2B———$1.5B—
Property and equipment, net$650.3M$647.3M$690.8M$803.1M$789.0M$762.0M
Total assets$64.3B$74.1B$80.1B$79.1B$70.7B$78.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Defined Benefit Plan Discount Rate5.5%—————
Defined Benefit Plan Weighted Average Asset Allocation1———1—
Defined Benefit Plan Funded Status$16.0M———$17.0M—
Accrued compensation and other current liabilities$3.6B$4.0B$2.8B$3.5B$4.0B$4.1B
Accounts Receivable, Allowance for Credit Loss$22.0M———$49.0M—
Goodwill——$1.0B$9.5B$9.9B$201.0M
Aggregate amount of earnout obligation expected settlement in cash or stock at option——$546.7M$557.9M—$511.0M
Aggregate amount of earnout obligation expected settlement in cash$790.0M—$53.6M$265.6M$238.0M$140.0M
Aggregate amount of earnout obligation expected settlement in cash or common stock at option$512.0M———$535.0M—
Aggregate amount of maximum earnout obligations related to acquisitions, recorded in consolidated balance sheet——$600.3M$823.5M—$651.0M
Aggregate amount of maximum earnout obligations related to acquisitions——$1.4B$1.7B—$1.4B
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets——$2.8B$19.9B$20.5B$403.0M
Business Combination, Recognized Liability Assumed, Liability——$958.5M$4.1B$4.2B$69.0M
Noncurrent assets——$30.1M$264.9M$268.0M$1.0M
Fiduciary assets——$593.7M$1.7B$1.6B$11.0M
Noncurrent liabilities——$299.7M$1.4B$1.5B$47.0M
Expiration lists——$935.7M$6.8B$7.0B$162.0M
Non-compete agreements——$21.6M$11.9M$19.0M$13.0M
Fiduciary liabilities——$593.7M$1.7B$1.6B$11.0M
Cash and cash equivalents——$93.5M$264.3M$400.0M$11.0M
Current liabilities——$65.1M$937.1M$1.0B$11.0M
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other——$107.0M$1.1B$1.1B$1.0M
Property, plant, and equipment——$16.0M$151.6M$154.0M$3.0M
Capitalized Contract Cost, Net$206.8M—$144.0M$205.4M$338.0M$220.0M
Cash and cash equivalents - non-restricted cash$14.8B$16.5B$14.1B$1.2B$1.2B$1.2B
Cash, cash equivalents, restricted cash and fiduciary cash$20.5B$22.2B$20.8B$8.3B$8.5B$8.5B
Cash and cash equivalents, end of period$20.5B$22.2B$20.8B$8.3B$8.5B$8.5B
Common stock, shares authorized (in shares)400M———400M—
Common stock, shares issued (in shares)250M—256.4M256.8M257M256.9M
Common Stock, Shares, Outstanding250M—256.4M256.8M257M256.9M
Contract with Customer, Liability$604.3M—$694.5M$891.1M$892.0M$986.0M
Debt Instrument, Unamortized Discount And Debt Issuance Expense————$129.0M$126.0M
Debt Long Term And Short Term Combined Amount Gross$13.3B—$13.0B$13.2B$13.1B$13.0B
Deferred Tax Liabilities, Gross$807.0M———$2.7B—
Disallowed business interest expense carryforward$2.0M———$174.0M—
Accrued and unfunded compensation and employee benefits$356.0M———$494.0M—
Capital loss carryforwards$8.0M———$56.0M—
Deferred Tax Assets, Goodwill and Intangible Assets$177.0M———$560.0M—
Deferred Tax Assets, Gross$1.8B———$2.7B—
Lease liabilities$106.0M———$166.0M—
Deferred Tax Assets, Net$853.0M—————
Deferred Tax Assets, Net of Valuation Allowance$1.7B———$2.5B—
Deferred Tax Assets, Operating Loss Carryforwards$163.0M———$270.0M—
Fixed assets$22.0M———$0.0—
Revenue recognition$5.0M———$0.0—
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-Based Compensation Cost$97.0M———$113.0M—
Accrued expenses$126.0M———$176.0M—
Deferred Tax Assets, Valuation Allowance$177.0M———$264.0M—
Deferred Tax Liabilities, Net————$277.0M—
Accrued pension liability$9.0M———$2.0M—
Federal and state intangible assets$647.0M———$2.4B—
Hedging instruments$36.0M———$34.0M—
Deferred Tax Liabilities, Other$2.0M———$4.0M—
Other prepaid items$16.0M———$30.0M—
Deferred Tax Liabilities, Property, Plant and Equipment$0.0———$22.0M—
Revenue recognition$0.0———$124.0M—
Right-of-use assets$97.0M———$154.0M—
Reversal of deferred tax asset————$4.0M—
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax$18.0M———$0.0—
2030————$0.0—
2026————$17.0M—
2028————$0.0—
2031 — 2035————$0.0—
2029————$0.0—
2027————$0.0—
Less: Fair value of plan assets at end of period$312.0M———$20.0M—
Defined Benefit Plan Net Amount Included In Retained Earning$34.0M———$17.0M—
Number of life underwriting enterprises————2.00—
Fiduciary assets (includes fiduciary cash of $7,069 in 2026 and $7,142 in 2025)$24.7B$31.8B$38.3B$35.5B$26.9B$33.9B
Fiduciary cash$5.5B$5.5B$6.5B$6.9B$7.1B$7.1B
Fiduciary liabilities$24.7B$31.8B$38.3B$35.5B$26.9B$33.9B
Thereafter——$2.2B$6.4B—$5.5B
2028——$658.6M$1.0B$1.1B$1.0B
2030——$562.6M$956.0M$973.0M$920.0M
Remainder of 2026——$362.6M$277.4M—$831.0M
2027——$694.8M$1.1B$1.1B$1.1B
2029——$614.2M$1.0B$1.0B$978.0M
Liabilities recorded on self-insurance————$11.0M—
Fair value of long-term debt————$12.2B—
Noncontrolling interests in subsidiaries$26.1M$33.6M$33.2M$31.1M$26.0M$27.0M
Number of frozen defined benefit pension plans3.00—————
Off-balance Sheet Liability, Maximum Exposure————$14.0M—
Operating Loss Carryforwards————$40.0M—
Premium financing debt$225.2M$152.8M$157.2M$237.4M$226.0M$156.0M
Premium financing, number of subsidiaries————7.00—
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied——$694.5M$891.1M$892.0M$986.0M
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number1.7M—2.4M2.3M2.2M3.1M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number7.3M—7M6.8M6.7M7.6M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price$148.26—$175.86$176.74$177.48$192.31
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price$90.06—$110.24$110.63$111.16$132.32
Weighted Average Exercise Price, Ending unvested and expected to vest (in dollars per share)$164.49—$206.32$206.32$206.25$231.76
Shares Under Option, Ending unvested and expected to vest (in shares)5.2M—4.3M4.3M4.3M4.1M
Aggregate Intrinsic Value, Ending Balance$995.0M—$1.0B$932.8M$609.0M$323.0M
Share-Based Payment Arrangement, Option, Exercise Price Range, Shares Exercisable——2.4M2.3M2.2M3.1M
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options——7M6.8M6.7M7.6M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value$337.0M—$495.7M$448.8M$320.0M$259.0M
Aggregate Intrinsic Value, Ending unvested and expected to vest$624.0M—$497.1M$459.3M$279.0M$61.0M
Share-Based Payment Arrangement, Option, Exercise Price Range, Exercisable, Weighted Average Exercise Price——$110.24$110.63$111.16$132.32
Unbilled balances$1.3B—$1.9B$2.1B$1.9B$2.8B
Unrecognized tax benefits$25.0M———$30.0M—
Penalties and interest accrued on unrecognized tax benefits$10.0M———$14.0M—
Amount that if recognized, would affect the effective tax rate or regulatory liability$25.0M———$30.0M—
Unrecorded Unconditional Purchase Obligation————$72.0M—

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Defined Benefit Pension Plan Liabilities (Non-Current)$296.0M———$3.0M—
Long-term debt$12.7B$12.4B$12.9B$13.1B$13.0B$12.9B
Deferred income$67.1M$66.3M$66.8M$123.8M$155.0M$177.0M
Operating lease liabilities, non-current$328.1M$326.3M$402.0M$577.1M$515.0M$499.0M
Other non-current liabilities$1.7B$1.9B$2.0B$2.3B$2.0B$2.2B
Total liabilities$44.1B$51.7B$57.1B$55.8B$47.3B$54.5B