v3.25.4

Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Allocation for Acquisition Costs | The following table presents the preliminary allocation of purchase consideration to the assets acquired and liabilities assumed in 2025, based on the estimated fair values for the other acquisitions as of their respective acquisition dates. Amounts in the table primarily reflect the impact from the acquisition of the three Hawaii-based insurance brokers, Atlas Insurance Agency, Inc., Pyramid Insurance Centre, Ltd., and NMF Insurance, Inc.
Acquisitions for the Year Ended December 31, 2025 |  |
(In millions) |  | Total
Cash |  | $ | 726 |
Estimated fair value of deferred/contingent consideration |  | 116 |
Fair value of previously-held equity method investment |  | 15 |
Total consideration |  | $ | 857 |
Allocation of purchase price: |  |
Cash and cash equivalents |  | $ | 27 |
Cash and cash equivalents held in a fiduciary capacity |  | 47 |
Net receivables |  | 32 |
Other current assets |  | 6 |
Goodwill |  | 562 |
Other intangible assets |  | 295 |
Fixed assets, net |  | 4 |
Right of use assets |  | 4 |
Other assets |  | 8 |
Total assets acquired |  | 985 |
Current liabilities |  | 37 |
Fiduciary liabilities |  | 47 |
Other liabilities |  | 36 |
Total liabilities assumed |  | 120 |
Non-controlling interests |  | 8 |
Net assets acquired |  | $ | 857 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The following table provides information about other intangible assets acquired in 2025:
Other intangible assets for the Year Ended December 31, (In millions) |  | Amount |  | Weighted Average Amortization Period
Customer relationships |  | $ | 275 |  |  | 13.3 years
Other |  | 20 |  |  | 4.3 years
Total other intangible assets |  | $ | 295 |  |  |
Schedule of Pro-Forma Information | The following table provides information about the consolidated statements of income for each respective period:
Results For the Year Ended December 31, |  |  |  |  |  |
(In millions) |  | 2025 |  | 2024 |  | 2023
Revenue |  | $ | 72 |  |  | $ | 451 |  |  | $ | 152 |
Operating income |  | $ | 7 |  |  | $ | 34 |  |  | $ | 24 |
The unaudited pro-forma financial data is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved if such acquisitions had occurred on the dates indicated, nor is it necessarily indicative of future consolidated results.
For the Years Ended December 31, |  |
(In millions, except per share data) |  | 2025 |  | 2024 |  | 2023
Revenue |  | $ | 27,131 |  |  | $ | 26,159 |  |  | $ | 24,723 |
Net income attributable to the Company |  | $ | 4,184 |  |  | $ | 4,123 |  |  | $ | 3,684 |
Basic net income per share attributable to the Company |  | $ | 8.53 |  |  | $ | 8.38 |  |  | $ | 7.46 |
Diluted net income per share attributable to the Company |  | $ | 8.48 |  |  | $ | 8.31 |  |  | $ | 7.39 |

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