Goodwill

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

NOTE 6 Goodwill

Goodwill is subject to at least an annual assessment for impairment by applying a fair value-based test. The Company completed its most recent annual assessment as of November 30, 2022 and identified no impairment as a result of the evaluation.

The changes in the carrying value of goodwill by reportable segment for the nine months ended September 30, 2023 are as follows:

(in millions)	Retail		National Programs			Wholesale Brokerage			Services		Total
Balance as of December 31, 2022	$	4,309.0	$	1,602.4		$	591.5		$	171.3	$	6,674.2
Goodwill adjustment during measurement period (1)		15.5		(23.5	)		(1.7	)		—		(9.7	)
Goodwill of acquired businesses		138.6		2.4			22.9			—		163.9
Goodwill disposed of relating to sales of businesses		—		(2.7	)		—			—		(2.7	)
Foreign currency translation and other adjustments during the year		18.5		(0.1	)		1.5			—		19.9
Balance as of September 30, 2023	$	4,481.6	$	1,578.5		$	614.2		$	171.3	$	6,845.6

Provisional estimates of fair value are established at the time of each acquisition and are subsequently reviewed and finalized within the first year of operations subsequent to the acquisition date to determine the necessity for adjustments. As of September 30, 2023, we made adjustments to the amounts initially recorded for purchased customer accounts and goodwill. See also Note 5.