XML 13 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1Close
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 612.7 $ 486.6
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 207.7 159.4
Change in estimated acquisition earnout payables (16.1) 41.8
Amortization of deferred compensation and restricted stock 27.2 22.9
Stock-based and other noncash compensation expense 11.1 3.8
Payments on acquisition earnouts in excess of original estimates (10.9) (35.3)
Provision for deferred income taxes 55.7 31.9
Effect of changes in foreign exchange rates (1.1) 0.3
Net change in accounts receivable, net (471.9) (642.2)
Net change in deferred revenue 80.1 74.7
Net change in other current assets (8.7) 17.3
Net change in accrued compensation and other accrued liabilities 344.0 298.1
Net change in income taxes payable (3.3) 21.0
Net change in other noncurrent assets and liabilities (37.2) (51.8)
Net cash provided by operating activities 789.3 428.5 Close
Cash flows from investing activities:    
Capital expenditures (29.7) (29.7)
Cash paid for acquisitions, net of cash and restricted cash acquired (251.2) (311.4)
Net proceeds from sales of operations/books of business 0.1 0.1
Net funding of investment transactions 0.1 0.4
Net funding of premium finance loans 88.8 84.0
Net cash used by investing activities (191.9) (256.6) Close
Cash flows from financing activities:    
Payments on acquisition earnouts (45.1) (66.6)
Proceeds from issuance of common stock 52.0 30.3
Payments to noncontrolling interests (3.1) (0.7)
Dividends paid (130.7) (117.4)
Net change in fiduciary assets and liabilities (205.8) 311.8
Net borrowings on premium financing debt facility (92.4) (83.7)
Borrowings on line of credit facility 1,078.2 605.0
Repayments on line of credit facility (1,215.0) (665.0)
Net borrowings of corporate related long-term debt 567.2 893.7
Debt acquisition costs (9.3) (9.3)
Settlements on terminated interest rate swaps (1.4) 60.0
Net cash (used) provided by financing activities (5.4) 958.1 Close
Effect of changes in foreign exchange rates on cash, cash equivalents, restricted cash and fiduciary cash (54.5) (3.2) Close
Net increase in cash, cash equivalents, restricted cash and fiduciary cash 537.5 1,126.8 Close
Cash, cash equivalents, restricted cash and fiduciary cash at beginning of period 6,543.3 4,964.2
Cash, cash equivalents, restricted cash and fiduciary cash at end of period $ 7,080.8 $ 6,091.0