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

9 Months Ended

Sep. 30, 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:

	Nine months ended September 30,
(in millions)	2024		2023
Cash paid during the period for:
Interest	$	162	$	167
Income taxes, net of refunds	$	289	$	183

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)	2024		2023
Other payables issued for agency acquisitions and purchased customer accounts	$	14	$	5
Estimated acquisition earn-out payables issued for agency acquisitions	$	28	$	51

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, 2024 and 2023.

(in millions)	September 30, 2024		December 31, 2023
Table to reconcile restricted and non-restricted fiduciary cash
Restricted fiduciary cash	$	1,457	$	1,412
Non-restricted fiduciary cash		287		191
Total restricted and non-restricted fiduciary cash at the end of the period	$	1,744	$	1,603

The Company's fiduciary cash increased as of September 30, 2024 compared to December 31, 2023 due to growth in the business, normal seasonality and acquisition activity during 2024.

	Balance as of September 30,
(in millions)	2024		2023
Table to reconcile cash and cash equivalents inclusive of fiduciary cash
Cash and cash equivalents	$	957	$	756
Fiduciary cash		1,744		1,515
Total cash and cash equivalents inclusive of restricted cash at the end of the period	$	2,701	$	2,271