Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.24.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE      
Net commissions and fees $ 2,026,596 $ 1,711,861 $ 1,432,179
Fiduciary investment income 50,953 13,332 592
Total revenue 2,077,549 1,725,193 1,432,771
EXPENSES      
Compensation and benefits 1,321,029 1,128,981 991,618
General and administrative 276,181 196,971 138,955
Amortization 106,799 103,601 107,877
Depreciation 9,038 5,690 4,806
Change in contingent consideration 5,421 442 2,891
Total operating expenses 1,718,468 1,435,685 1,246,147
OPERATING INCOME 359,081 289,508 186,624
Interest expense, net 119,507 104,829 79,354
Loss (income) from equity method investment in related party (8,731) 414 759
Other non-operating loss 10,380 5,073 44,947
INCOME BEFORE INCOME TAXES 237,925 179,192 61,564
Income tax expense 43,445 15,935 4,932
NET INCOME 194,480 163,257 56,632
Net income (loss) attributable to non-controlling interests, net of tax 133,443 102,205 (9,241)
Net income attributable to Ryan Specialty Holdings, Inc. $ 61,037 $ 61,052 $ 65,873
Common Class A [Member]      
NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK:      
Earnings (loss) per share - basic $ 0.53 $ 0.57 $ (0.07)
Earnings (loss) per share - diluted $ 0.52 $ 0.52 $ (0.07)
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:      
Basic 114,359,968 108,616,420 105,730,008
Diluted 125,745,139 265,750,444 105,730,008