Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities

3 Months Ended

Mar. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities

Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities

Our restricted cash balance is composed of funds held in separate premium trust accounts as required by state law or, in some cases, by agreement with our carrier partners. 

	Three months ended   March 31,
(in thousands)	2018		2017
Cash paid during the period for:
Interest	$	14,472	$	14,531
Income taxes	$	3,179	$	2,704

Brown & Brown’s significant non-cash investing and financing activities are summarized as follows:

	Three months ended   March 31,
(in thousands)	2018		2017
Other payable issued for purchased customer accounts	$	1,690	$	—
Estimated acquisition earn-out payables and related charges	$	4,524	$	(211	)

The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of March 31, 2018 and 2017.

	Balance as of March 31,
(in thousands)	2018		2017
Table to reconcile cash and cash equivalents inclusive of restricted cash
Cash and cash equivalents	$	558,248	$	546,721
Restricted cash	268,129		279,368
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$	826,377	$	826,089

The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of December 31, 2017 and 2016.

	Balance as of December 31,
(in thousands)	2017		2016
Table to reconcile cash and cash equivalents inclusive of restricted cash
Cash and cash equivalents	$	573,383	$	515,646
Restricted cash	250,705		265,637
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$	824,088	$	781,283

In the preparation of the Statement of Cash Flows in this Quarterly Report on Form 10-Q, beginning balance sheet balances for 2018 were adjusted to reflect the modified retrospective adoption of Accounting Standards Update No.2014-09, “Revenue from Contracts with Customers” and Accounting Standards Codification Topic 340 - Other Assets and Deferred Cost, thereby reflecting in the Statement of Cash Flows the change in operating assets and liabilities for the period, excluding the initial impact of adoption of these new accounting standards. Refer to Note 2 in the "Recently Adopted Accounting Standards" for the initial impact of adoption of these new accounting standards.