Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities (Tables)

9 Months Ended

Sep. 30, 2023

Supplemental Cash Flow Elements [Abstract]

Summary of Cash Paid for Interest and Income Taxes

Cash paid during the period for interest and income taxes are summarized as follows:

	Nine months ended September 30,
(in millions)	2023		2022
Cash paid during the period for:
Interest	$	166.6	$	103.3
Income taxes, net of refunds	$	183.3	$	118.2

Summary of Significant Non-Cash Investing and Financing Activities

Significant non-cash investing and financing activities are summarized as follows:

	Nine months ended September 30,
(in millions)	2023		2022
Other payables issued for agency acquisitions and purchased customer accounts	$	4.9	$	4.6
Estimated acquisition earn-out payables issued for agency acquisitions	$	51.3	$	42.1
Assumed acquisition earn-out payables	$	—	$	34.8
Common stock issued for agency acquisition	$	—	$	14.7
Notes payable assumed for agency acquisition	$	—	$	1.8

Schedule of Reconciliation of Cash and Cash Equivalents Inclusive of Restricted Cash

The Company's restricted cash balance is composed of funds held in separate premium trust accounts as required by state law or, in some cases, by agreement with carrier partners. The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of September 30, 2023 and 2022.

(in millions)	September 30, 2023		December 31, 2022
Table to reconcile restricted and non-restricted fiduciary cash
Restricted fiduciary cash	$	1,325.9	$	1,231.9
Non-restricted fiduciary cash		189.3		151.3
Total restricted and non-restricted fiduciary cash at the end of the period	$	1,515.2	$	1,383.2

The Company's fiduciary cash increased as of September 30, 2023 compared to December 31, 2022 primarily due to businesses acquired during 2023 and 2022.

	Balance as of September 30,
(in millions)	2023		2022
Table to reconcile cash, cash equivalents and fiduciary cash
Cash and cash equivalents	$	755.7	$	579.5
Fiduciary cash		1,515.2		1,271.3
Total cash, cash equivalents and fiduciary cash at the end of the period	$	2,270.9	$	1,850.8