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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current Assets:    
Cash and cash equivalents $ 581 $ 700
Fiduciary cash 1,569 1,603
Short-term investments 10 11
Commission, fees and other receivables 932 790
Fiduciary receivables 1,133 1,125
Reinsurance recoverable 65 125
Prepaid reinsurance premiums 428 462
Other current assets 287 314
Total current assets 5,005 5,130
Fixed assets, net 272 270
Operating lease assets 197 199
Goodwill 7,386 7,341
Amortizable intangible assets, net 1,592 1,621
Investments 21 21
Other assets 333 301
Total assets 14,806 14,883
Current Liabilities:    
Fiduciary liabilities 2,702 2,727
Losses and loss adjustment reserve 72 131
Unearned premiums 488 462
Accounts payable 322 459
Accrued expenses and other liabilities 421 608
Current portion of long-term debt 875 569
Total current liabilities 4,880 4,956
Long-term debt less unamortized discount and debt issuance costs 3,009 3,227
Operating lease liabilities 178 179
Deferred income taxes, net 614 616
Other liabilities 338 326
Equity:    
Common stock, par value $0.10 per share; authorized 560 shares; issued 305 shares and outstanding 285 shares at 2024, issued 304 shares and outstanding 285 shares at 2023, respectively 30 30
Additional paid-in capital 1,003 1,027
Treasury stock, at cost 20 shares at 2024, 20 shares at 2023, respectively. (748) (748)
Accumulated other comprehensive loss (51) (19)
Non-controlling interests 9  
Retained earnings 5,544 5,289
Total equity 5,787 5,579
Total liabilities and equity $ 14,806 $ 14,883