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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net earnings $ 351.7 $ 286.0
Adjustments to reconcile net earnings to net cash used by operating activities:    
Net gain on investments and other (57.2) (2.0)
Depreciation and amortization 110.5 98.8
Change in estimated acquisition earnout payables 2.9 7.4
Amortization of deferred compensation and restricted stock 10.0 9.9
Stock-based and other noncash compensation expense 3.6 4.8
Payments on acquisition earnouts in excess of original estimates (7.1) (9.0)
Effect of changes in foreign exchange rates 2.6 1.3
Net change in premiums and fees receivable (1,285.6) (1,505.4)
Net change in deferred revenue 18.6 29.3
Net change in premiums payable to underwriting enterprises 876.9 979.4
Net change in other current assets 133.4 119.1
Net change in accrued compensation and other current liabilities (209.0) (165.4)
Net change in income taxes payable 35.5 16.2
Net change in deferred income taxes (67.8) (75.6)
Net change in other noncurrent assets and liabilities (15.2) (12.4)
Net cash used by operating activities (96.2) (217.6)
Cash flows from investing activities:    
Capital expenditures (39.3) (31.1)
Cash paid for acquisitions, net of cash and restricted cash acquired (175.6) (57.3)
Net proceeds from sales of operations/books of business 74.0 2.2
Net funding of investment transactions (0.4) (0.7)
Net cash used by investing activities (141.3) (86.9)
Cash flows from financing activities:    
Payments on acquisition earnouts (8.2) (9.4)
Proceeds from issuance of common stock 32.8 32.3
Repurchases of common stock   (11.3)
Payments to noncontrolling interests (10.7) (8.6)
Dividends paid (79.6) (76.1)
Net borrowings on premium financing debt facility (20.5) (30.3)
Borrowings on line of credit facility 1,025.0 815.0
Repayments on line of credit facility (1,030.0) (645.0)
Net borrowings of corporate related long-term debt 600.0  
Debt acquisition costs (0.2)  
Settlements on terminated interest rate swaps (1.2) 2.9
Net cash provided by financing activities 507.4 69.5
Effect of changes in foreign exchange rates on cash and cash equivalents and restricted cash 34.1 38.7
Net increase (decrease) in cash, cash equivalents and restricted cash 304.0 (196.3)
Cash, cash equivalents and restricted cash at beginning of period 2,236.8 2,305.0
Cash, cash equivalents and restricted cash at end of period $ 2,540.8 $ 2,108.7