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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 376.1 $ 586.0
Receivables 871.4 496.2
Investments 720.6 711.6
Goodwill 2,524.1 2,531.2
Acquired client relationships (net) 1,585.7 1,639.3
Equity method investments in Affiliates (net) 2,965.8 2,870.4
Fixed assets (net) 69.7 54.4
Other assets 282.7 318.3
Total assets 9,396.1 9,207.4
Liabilities and Equity    
Payables and accrued liabilities 1,097.5 806.9
Debt 2,918.6 2,691.3
Deferred tax liability (net) 479.1 533.1
Other liabilities 653.0 754.0
Total liabilities 5,148.2 4,785.3
Commitments and contingencies (Note 7)
Redeemable non-controlling interests 264.0 246.8
Equity:    
Common stock ($0.01 par value, 153.0 shares authorized; 58.5 shares issued as of December 31, 2025 and March 31, 2026) 0.6 0.6
Additional paid-in capital 554.7 616.1
Accumulated other comprehensive loss (117.7) (106.8)
Retained earnings 7,725.5 7,615.4
Total stockholders' equity before treasury stock 8,163.1 8,125.3
Less: Treasury stock, at cost (31.5 shares and 32.0 shares as of December 31, 2025 and March 31, 2026, respectively) (5,073.3) (4,886.9)
Total stockholders' equity 3,089.8 3,238.4
Non-controlling interests 894.1 936.9
Total equity 3,983.9 4,175.3
Total liabilities and equity $ 9,396.1 $ 9,207.4