What does federal and state intangible assets mean?

Deferred tax liabilities arising from the difference between the book value and tax basis of goodwill and intangible assets. This often occurs due to acquisitions where the purchase price is allocated differently for accounting and tax purposes. It represents a future tax obligation.

Arthur J. Gallagher AJG Federal and state intangible assets

Federal and state intangible assets at other companies

MSCIMSCI

$116.16M+0.2%

Arthur J. GallagherAJG

$2.37B+267%

The Travelers CompaniesTRV

$87M+24.3%

L3Harris TechnologiesLHX

$1.79B-9.1%

eBayEBAY

$69M+21.1%

Rockwell AutomationROK

$105M-12.5%

Other financials

Income statement

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Revenue$4.8B+27.7%

Gross profit$2.0B+16.3%

Net income$822.0M+16.8%

EPS (diluted)$3.16+16.2%

Balance sheet

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Cash & equivalents$1.4B-91.5%

Total debt$14.0B+5.7%

Total equity$23.8B+6.5%

Total assets$78.3B+5.7%

Cash flow

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Operating cash flow$957.0M+9.7%

CapEx$36.0M+28.6%

Free cash flow$921.0M+9.1%

Valuation

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Market cap$58.99B-20.4%

Enterprise value$71.59B-4.6%

P/E36.6×-8.6×

P/S3.9×-2.0×

Profitability

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Gross margin99.7%+14.0pp

Net margin10.8%-2.2pp

FCF margin21%-0.1pp

Returns & leverage

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Return on equity7%-2.3pp

Debt / equity0.6×0.0×

Current ratio1.1×-0.4×

Where this comes from

Reported directly by Arthur J. Gallagher in its filing.

Tagged under the XBRL concept us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets.

The official record: Arthur J. Gallagher’s 10-K, filed February 17, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Arthur J. Gallagher's federal and state intangible assets?: Arthur J. Gallagher (AJG) reported federal and state intangible assets of $2.37B in Q4 2025.
What does federal and state intangible assets mean?: Deferred tax liabilities arising from the difference between the book value and tax basis of goodwill and intangible assets. This often occurs due to acquisitions where the purchase price is allocated differently for accounting and tax purposes. It represents a future tax obligation.