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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 966.0 $ 1,116.0 $ 955.0
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Net gain on investments and other (8.4) (11.0) (17.0)
Loss on extinguishment of debt     9.7
Depreciation and amortization 696.5 599.6 566.3
Change in estimated acquisition earnout payables 377.3 83.0 119.6
Amortization of deferred compensation and restricted stock 105.1 85.4 68.9
Stock-based and other noncash compensation expense 31.4 24.4 13.4
Payments on acquisition earnouts in excess of original estimates (68.4) (81.7) (29.6)
Provision for deferred income taxes 43.1 (209.0) (184.0)
Effect of changes in foreign exchange rates 10.3 (34.0) 2.3
Net change in accounts receivable, net (503.5) (319.6) (172.3)
Net change in deferred revenue 49.0 29.3 23.1
Net change in other current assets (107.3) (71.7) (102.8)
Net change in accrued compensation and other accrued liabilities 462.9 119.0 217.3
Net change in income taxes payable (77.7) 49.9 (123.8)
Net change in other noncurrent assets and liabilities 55.4 10.4 46.3
Net cash provided by operating activities 2,031.7 1,390.0 1,392.4 Close
Cash flows from investing activities:      
Capital expenditures (193.6) (182.7) (128.6)
Cash paid for acquisitions, net of cash and restricted cash acquired (3,041.9) (764.9) (3,250.9)
Net proceeds from sales of operations/books of business 9.9 11.0 15.7
Net funding of investment transactions 5.5 1.0 (1.1)
Net funding of premium finance loans (72.9) (69.2) (66.8)
Net cash used by investing activities (3,293.0) (1,004.8) (3,431.7) Close
Cash flows from financing activities:      
Payments on acquisition earnouts (97.8) (106.5) (137.3)
Proceeds from issuance of common stock 120.2 123.1 1,546.7
Payments to noncontrolling interests (2.4) (3.6) (39.1)
Dividends paid (473.6) (429.5) (392.0)
Net change in fiduciary assets and liabilities 1,296.5 735.4 311.7
Net borrowings on premium financing debt facility 41.7 25.3 37.0
Borrowings on line of credit facility 3,795.0 2,570.0 1,280.0
Repayments on line of credit facility (3,610.0) (2,555.0) (1,235.0)
Net borrowings of corporate related long-term debt 1,634.0 (201.5) 1,677.0
Debt acquisition costs (17.7) 2.2 (21.3)
Settlements on terminated interest rate swaps 188.0 52.7 (31.9)
Net cash provided by financing activities 2,873.9 212.6 2,995.8 Close
Effect of changes in foreign exchange rates on cash, cash equivalents, restricted cash and fiduciary cash (33.5) (99.9) (64.5) Close
Net increase in cash, cash equivalents, restricted cash and fiduciary cash 1,579.1 497.9 892.0 Close
Cash, cash equivalents, restricted cash and fiduciary cash at beginning of year 4,964.2 4,466.3 3,574.3
Cash, cash equivalents, restricted cash and fiduciary cash at end of year $ 6,543.3 $ 4,964.2 $ 4,466.3