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Arthur J. Gallagher logo

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$51.7B
P/E Ratio32.06
ROE6.99%

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$3.9B$4.5B$4.7B$5.4B$5.2B$6B
Allowance for Doubtful Accounts$22M———$49M—
Cash and cash equivalents$15B$16.7B$14.3B$1.4B$1.4B$1.4B
Other current assets$518M$457.8M$505.1M$711M$886M$773M
Restricted cash$228M$209M$231.2M$234.3M$241M$240M
Total current assets$44.1B$53.4B$57.8B$43B$34.4B$42B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accumulated other comprehensive income (loss)-$1.2B-$934M-$500.3M-$581.3M-$525M-$566M
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$250M$256.1M$256.4M$256.8M$257M$257M
Retained earnings$5B$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$334M
Total stockholders' equity$20.2B$22.3B$23B$23.2B$23.3B$23.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$1.8B———$2.3B—
Defined Benefit Plan Discount Rate5.5%—————
Defined Benefit Plan Weighted Average Asset Allocation1———1—
Defined Benefit Plan Funded Status$16M———$17M—
Accrued compensation and other current liabilities$3.6B$4B$2.8B$3.5B$4B$4.1B
Accounts Receivable, Allowance for Credit Loss$22M———$49M—
Goodwill——$1B$9.5B$9.9B$201M
Aggregate amount of earnout obligation expected settlement in cash or stock at option——$546.7M$557.9M—$511M
Aggregate amount of earnout obligation expected settlement in cash$790M—$53.6M$265.6M$238M$140M
Aggregate amount of earnout obligation expected settlement in cash or common stock at option$512M———$535M—
Aggregate amount of maximum earnout obligations related to acquisitions, recorded in consolidated balance sheet——$600.3M$823.5M—$651M
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$403M
Business Combination, Recognized Liability Assumed, Liability——$958.5M$4.1B$4.2B$69M
Noncurrent assets——$30.1M$264.9M$268M$1M
Fiduciary assets——$593.7M$1.7B$1.6B$11M
Noncurrent liabilities——$299.7M$1.4B$1.5B$47M
Expiration lists——$935.7M$6.8B$7B$162M
Non-compete agreements——$21.6M$11.9M$19M$13M
Fiduciary liabilities——$593.7M$1.7B$1.6B$11M
Cash and cash equivalents——$93.5M$264.3M$400M$11M
Current liabilities——$65.1M$937.1M$1B$11M
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other——$107M$1.1B$1.1B$1M
Property, plant, and equipment——$16M$151.6M$154M$3M
Capitalized Contract Cost, Net$207M—$144M$205.4M$338M$220M
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$604M—$694.5M$891.1M$892M$986M
Debt Instrument, Unamortized Discount And Debt Issuance Expense————$129M$126M
Debt Long Term And Short Term Combined Amount Gross$13.3B—$13B$13.2B$13.1B$13B
Deferred Tax Liabilities, Gross$807M———$2.7B—
Disallowed business interest expense carryforward$2M———$174M—
Accrued and unfunded compensation and employee benefits$356M———$494M—
Capital loss carryforwards$8M———$56M—
Deferred Tax Assets, Goodwill and Intangible Assets$177M———$560M—
Deferred Tax Assets, Gross$1.8B———$2.7B—
Lease liabilities$106M———$166M—
Deferred Tax Assets, Net$853M—————
Deferred Tax Assets, Net of Valuation Allowance$1.7B———$2.5B—
Deferred Tax Assets, Operating Loss Carryforwards$163M———$270M—
Fixed assets$22M———$0—
Revenue recognition$5M———$0—
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-Based Compensation Cost$97M———$113M—
Accrued expenses$126M———$176M—
Deferred Tax Assets, Valuation Allowance$177M———$264M—
Deferred Tax Liabilities, Net————$277M—
Accrued pension liability$9M———$2M—
Federal and state intangible assets$647M———$2.4B—
Hedging instruments$36M———$34M—
Deferred Tax Liabilities, Other$2M———$4M—
Other prepaid items$16M———$30M—
Deferred Tax Liabilities, Property, Plant and Equipment$0———$22M—
Revenue recognition$0———$124M—
Right-of-use assets$97M———$154M—
Reversal of deferred tax asset————$4M—
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax$18M———$0—
2030————$0—
2026————$17M—
2028————$0—
2031 — 2035————$0—
2029————$0—
2027————$0—
Less: Fair value of plan assets at end of period$312M———$20M—
Defined Benefit Plan Net Amount Included In Retained Earning$34M———$17M—
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$1B$1.1B$1B
2030——$562.6M$956M$973M$920M
Remainder of 2026——$362.6M$277.4M—$831M
2027——$694.8M$1.1B$1.1B$1.1B
2029——$614.2M$1B$1B$978M
Liabilities recorded on self-insurance————$11M—
Fair value of long-term debt————$12.2B—
Noncontrolling interests in subsidiaries$26M$33.6M$33.2M$31.1M$26M$27M
Number of frozen defined benefit pension plans3.00—————
Off-balance Sheet Liability, Maximum Exposure————$14M—
Operating Loss Carryforwards————$40M—
Premium financing debt$225M$152.8M$157.2M$237.4M$226M$156M
Premium financing, number of subsidiaries————7.00—
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied——$694.5M$891.1M$892M$986M
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$995M—$1B$932.8M$609M$323M
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$337M—$495.7M$448.8M$320M$259M
Aggregate Intrinsic Value, Ending unvested and expected to vest$624M—$497.1M$459.3M$279M$61M
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$25M———$30M—
Penalties and interest accrued on unrecognized tax benefits$10M———$14M—
Amount that if recognized, would affect the effective tax rate or regulatory liability$25M———$30M—
Unrecorded Unconditional Purchase Obligation————$72M—

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred income$537M$629.3M$627.7M$767.3M$737M$809M
Current portion of long-term debt$200M$515M$640M$770M$640M$640M
Short-term borrowings$200M$515M$640M$770M$640M$640M
Total current liabilities$29.3B$37B$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$3M$1.5B$1.6B$1.6B$7M$1.6B
Deferred Tax Assets - Tax Credit Carryforwards$772M—$684.5M$706.3M$713M$655M
Goodwill$12.3B$12.7B$13.7B$22.2B$22.6B$23B
Net Investment in Lease$378M$377.3M$456.6M$630.2M$598M$585M
Deferred tax assets$959M$890.2M$691.6M$29.4M$43M$43M
Prepaid pension assets$16M———$17M—
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$378M$377.3M$456.6M$630.2M$598M$585M
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—
Operating Lease Right-of-Use Assets in Other Assets$378M$377.3M$456.6M$630.2M$598M$585M
Accumulated depreciation$1.2B———$1.5B—
Property and equipment, net$650M$647.3M$690.8M$803.1M$789M$762M
Software and Technology Licenses, Net$1.4B$1.5B$1.6B$1.6B$1.6B$1.6B
Total assets$64.3B$74.1B$80.1B$79.1B$70.7B$78.3B

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Defined Benefit Pension Plan Liabilities (Non-Current)$296M———$3M—
Long-term debt$13.2B$12.4B$12.9B$13.1B$13B$12.9B
Deferred income$67M$66.3M$66.8M$123.8M$155M$177M
Operating lease liabilities, non-current$328M$326.3M$402M$577.1M$515M$499M
Other non-current liabilities$1.7B$1.9B$2B$2.3B$2B$2.2B
Total liabilities$44.1B$51.7B$57.1B$55.8B$47.3B$54.5B