Baldwin Insurance Group Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
BWIN$32.18+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Loss
| For the Years Ended December 31, | |||
|---|---|---|---|
| (in thousands, except share and per share data) | 2024 | 2023 | 2022 |
| Revenues: | |||
| Commissions and fees | $1,377,116 | $1,211,828 | $980,720 |
| Investment income | 11,921 | 6,727 | — |
| Total revenues | 1,389,037 | 1,218,555 | 980,720 |
| Operating expenses: | |||
| Commissions, employee compensation and benefits | 1,032,048 | 911,354 | 719,445 |
| Other operating expenses | 192,366 | 190,267 | 173,708 |
| Amortization expense | 102,730 | 92,704 | 81,738 |
| Change in fair value of contingent consideration | (4,949) | 61,083 | 32,307 |
| Depreciation expense | 6,194 | 5,698 | 4,620 |
| Total operating expenses | 1,328,389 | 1,261,106 | 1,011,818 |
| Operating income (loss) | 60,648 | (42,551) | (31,098) |
| Other income (expense): | |||
| Interest expense, net | (123,644) | (119,465) | (71,072) |
| Gain on divestitures | 38,953 | — | — |
| Loss on extinguishment and modification of debt | (15,113) | — | — |
| Other income (expense), net | (194) | (718) | 26,137 |
| Total other expense | (99,998) | (120,183) | (44,935) |
| Loss before income taxes | (39,350) | (162,734) | (76,033) |
| Income tax expense | 1,731 | 1,285 | 715 |
| Net loss | (41,081) | (164,019) | (76,748) |
| Less: net loss attributable to noncontrolling interests | (16,563) | (73,878) | (34,976) |
| Net loss attributable to Baldwin | $(24,518) | $(90,141) | $(41,772) |
| Comprehensive loss | $(41,081) | $(164,019) | $(76,748) |
| Comprehensive loss attributable to noncontrolling interests | (16,563) | (73,878) | (34,976) |
| Comprehensive loss attributable to Baldwin | (24,518) | (90,141) | (41,772) |
| Basic and diluted loss per share | $(0.39) | $(1.50) | $(0.74) |
| Basic and diluted weighted-average shares of Class A common stock outstanding | 63,455,148 | 60,134,776 | 56,825,348 |
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