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

3 Months Ended

Mar. 31, 2024

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:

	Three months ended March 31,
(in millions)	2024		2023
Cash paid during the period for:
Interest	$	74	$	73
Income taxes, net of refunds	$	134	$	44

Summary of Significant Non-Cash Investing and Financing Activities

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

	Three months ended March 31,
(in millions)	2024		2023
Other payables issued for agency acquisitions and purchased customer accounts	$	2	$	—
Estimated acquisition earn-out payables issued for agency acquisitions	$	9	$	20

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 March 31, 2024 and 2023.

(in millions)	March 31, 2024		December 31, 2023
Table to reconcile restricted and non-restricted fiduciary cash
Restricted fiduciary cash	$	1,365	$	1,412
Non-restricted fiduciary cash		204		191
Total restricted and non-restricted fiduciary cash at the end of the period	$	1,569	$	1,603

The Company's fiduciary cash increased as of March 31, 2024 compared to December 31, 2023 primarily due to businesses acquired during 2024 and 2023.

	Balance as of March 31,
(in millions)	2024		2023
Table to reconcile cash and cash equivalents inclusive of fiduciary cash
Cash and cash equivalents	$	581	$	563
Fiduciary cash		1,569		1,380
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$	2,150	$	1,943