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Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of allocation of acquisition costs | The following table presents the preliminary allocation of purchase consideration to the assets acquired and liabilities assumed in 2022, based on the estimated fair values for the acquisitions as of their respective acquisition dates.
Acquisitions for the Year Ended December 31, 2022 |
(In millions) |
Cash | $ | 579 |
Estimated fair value of deferred/contingent consideration | 120 |
Fair value of previously-held equity method investment | 6 |
Total consideration | $ | 705 |
Allocation of purchase price: |
Cash and cash equivalents | $ | 25 |
Cash and cash equivalents held in a fiduciary capacity | 6 |
Net receivables | 32 |
Other current assets | 3 |
Goodwill | 460 |
Other intangible assets | 228 |
Fixed assets, net | 3 |
Right of use assets | 7 |
Other assets | 1 |
Total assets acquired | 765 |
Current liabilities | 35 |
Fiduciary liabilities | 6 |
Long-term lease liabilities | 7 |
Other liabilities | 7 |
Total liabilities assumed | 55 |
Non-controlling interests | 5 |
Net assets acquired | $ | 705 |
Note: Amounts in the table above primarily reflect the acquisition of HMS Insurance Associates, Inc.
Schedule of acquired finite-lived intangible assets | The following table provides information about other intangible assets acquired in 2022:
(In millions) |  | Amount |  | Weighted Average Amortization Period
Customer relationships |  | $ | 219 |  |  | 12.7 years
Other |  | 9 |  |  | 2.3 years
Total other intangible assets |  | $ | 228 |  |  |
Schedule of pro-forma information |
For the Years Ended December 31, |
(In millions, except per share data) | 2022 |  | 2021 |  | 2020
Revenue | $ | 20,880 |  |  | $ | 20,220 |  |  | $ | 17,586 |
Net income attributable to the Company | $ | 3,078 |  |  | $ | 3,177 |  |  | $ | 2,042 |
Basic net income per share attributable to the Company | $ | 6.16 |  |  | $ | 6.27 |  |  | $ | 4.03 |
Diluted net income per share attributable to the Company | $ | 6.10 |  |  | $ | 6.20 |  |  | $ | 3.99 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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