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v3.19.3.a.u2

Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Acquisition Method for Recording Business Combinations | During 2019, we acquired substantially all of the net assets of the following firms in exchange for our common stock and/or cash. These acquisitions have been accounted for using the acquisition method for recording business combinations (in millions, except share data):
Name and Effective Date of Acquisition |  | Common Shares Issued |  |  | Common Share Value |  |  | Cash Paid |  |  | Accrued Liability |  |  | Escrow Deposited |  |  | Recorded Earnout Payable |  |  | Total Recorded Purchase Price |  |  | Maximum Potential Earnout Payable |
|  | (000s) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inversion Holding Company, LLC (IHC) January 1, 2019 |  |  | 452 |  |  | $ | 35.9 |  |  | $ | 31.2 |  |  | $ | — |  |  | $ | 4.5 |  |  | $ | 20.8 |  |  | $ | 92.4 |  |  | $ | 35.0 |
Jones Brown Inc. (JBI) January 1, 2019 |  |  | — |  |  |  | — |  |  |  | 65.9 |  |  |  | — |  |  |  | 8.7 |  |  |  | — |  |  |  | 74.6 |  |  |  | — |
Stackhouse Poland Group Limited (SPG) April 5, 2019 |  |  | — |  |  |  | — |  |  |  | 326.8 |  |  |  | — |  |  |  | 4.8 |  |  |  | — |  |  |  | 331.6 |  |  |  | — |
RPA Insurance Services LLC (RPA) May 1, 2019 |  |  | — |  |  |  | — |  |  |  | 44.0 |  |  |  | — |  |  |  | 3.9 |  |  |  | 16.9 |  |  |  | 64.8 |  |  |  | 22.0 |
JLT Aerospace (JLT) June 1, 2019 |  |  | — |  |  |  | — |  |  |  | 162.8 |  |  |  | — |  |  |  | — |  |  |  | 67.9 |  |  |  | 230.7 |  |  |  | 75.1 |
RGA Group (RGA) September 4, 2019 |  |  | — |  |  |  | — |  |  |  | 42.8 |  |  |  | 6.0 |  |  |  | 4.7 |  |  |  | 8.0 |  |  |  | 61.5 |  |  |  | 9.3 |
LSG Insurance Partners, Inc. (LSG) October 1, 2019 |  |  | 395 |  |  |  | 36.2 |  |  |  | 127.2 |  |  |  | — |  |  |  | 6.0 |  |  |  | 50.1 |  |  |  | 219.5 |  |  |  | 71.5 |
The EHE Group, LLC dba BonusDrive (EHE) November 1, 2019 |  |  | 458 |  |  |  | 42.0 |  |  |  | 41.0 |  |  |  | 0.2 |  |  |  | 1.0 |  |  |  | 27.0 |  |  |  | 111.2 |  |  |  | 77.0 |
Horseshoe Insurance Services Holdings, Ltd. (HIS) November 15, 2019 |  |  | — |  |  |  | — |  |  |  | 43.3 |  |  |  | 8.5 |  |  |  | 5.0 |  |  |  | 7.1 |  |  |  | 63.9 |  |  |  | 10.0 |
40 other acquisitions completed in 2019 |  |  | 482 |  |  |  | 41.8 |  |  |  | 389.5 |  |  |  | 1.7 |  |  |  | 34.2 |  |  |  | 74.4 |  |  |  | 541.6 |  |  |  | 177.2 |
|  |  | 1,787 |  |  | $ | 155.9 |  |  | $ | 1,274.5 |  |  | $ | 16.4 |  |  | $ | 72.8 |  |  | $ | 272.2 |  |  | $ | 1,791.8 |  |  | $ | 477.1 |
Summary of Estimated Fair Values of Net Assets Acquired | The following is a summary of the estimated fair values of the net assets acquired at the date of each acquisition made in 2019 (in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 40 Other |  |  |  |
|  | IHC |  |  | JBI |  |  | SPG |  |  | RPA |  |  | JLT |  |  | RGA |  |  | LSG |  |  | EHE |  |  | HIS |  |  | Acquisitions |  |  | Total |
Cash |  | $ | — |  |  | $ | 2.7 |  |  | $ | 13.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 6.0 |  |  | $ | — |  |  | $ | 2.6 |  |  | $ | 8.9 |  |  | $ | 11.7 |  |  | $ | 45.5 |
Other current assets |  |  | 3.8 |  |  |  | 22.2 |  |  |  | 35.9 |  |  |  | 10.6 |  |  |  | 6.7 |  |  |  | 5.1 |  |  |  | 6.6 |  |  |  | 4.2 |  |  |  | 2.6 |  |  |  | 69.8 |  |  |  | 167.5 |
Fixed assets |  |  | 0.3 |  |  |  | 1.1 |  |  |  | 3.1 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |  |  |  | 0.7 |  |  |  | 0.1 |  |  |  | 1.5 |  |  |  | 3.3 |  |  |  | 10.5 |
Noncurrent assets |  |  | 0.5 |  |  |  | 2.9 |  |  |  | 9.9 |  |  |  | 0.7 |  |  |  | 3.3 |  |  |  | 5.7 |  |  |  | — |  |  |  | 0.1 |  |  |  | 1.9 |  |  |  | 13.6 |  |  |  | 38.6 |
Goodwill |  |  | 41.5 |  |  |  | 49.5 |  |  |  | 255.9 |  |  |  | 34.5 |  |  |  | 127.1 |  |  |  | 36.7 |  |  |  | 126.0 |  |  |  | 50.2 |  |  |  | 10.0 |  |  |  | 244.3 |  |  |  | 975.7 |
Expiration lists |  |  | 51.7 |  |  |  | 25.4 |  |  |  | 123.0 |  |  |  | 32.6 |  |  |  | 105.1 |  |  |  | 19.5 |  |  |  | 94.3 |  |  |  | 67.5 |  |  |  | 39.8 |  |  |  | 282.4 |  |  |  | 841.3 |
Non-compete agreements |  |  | 0.2 |  |  |  | 0.1 |  |  |  | 0.5 |  |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 2.7 |  |  |  | 0.5 |  |  |  | 0.8 |  |  |  | 2.9 |  |  |  | 3.6 |  |  |  | 11.7 |
Trade names |  |  | — |  |  |  | 0.1 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2.9 |  |  |  | 0.1 |  |  |  | 4.0 |
Total assets acquired |  |  | 98.0 |  |  |  | 104.0 |  |  |  | 442.1 |  |  |  | 78.7 |  |  |  | 243.2 |  |  |  | 75.9 |  |  |  | 228.1 |  |  |  | 125.5 |  |  |  | 70.5 |  |  |  | 628.8 |  |  |  | 2,094.8 |
Current liabilities |  |  | 5.1 |  |  |  | 20.4 |  |  |  | 76.7 |  |  |  | 13.2 |  |  |  | 12.5 |  |  |  | 10.6 |  |  |  | 8.6 |  |  |  | 2.4 |  |  |  | 6.6 |  |  |  | 61.8 |  |  |  | 217.9 |
Noncurrent liabilities |  |  | 0.5 |  |  |  | 9.0 |  |  |  | 33.8 |  |  |  | 0.7 |  |  |  | — |  |  |  | 3.8 |  |  |  | — |  |  |  | 11.9 |  |  |  | — |  |  |  | 25.4 |  |  |  | 85.1 |
Total liabilities assumed |  |  | 5.6 |  |  |  | 29.4 |  |  |  | 110.5 |  |  |  | 13.9 |  |  |  | 12.5 |  |  |  | 14.4 |  |  |  | 8.6 |  |  |  | 14.3 |  |  |  | 6.6 |  |  |  | 87.2 |  |  |  | 303.0 |
Total net assets acquired |  | $ | 92.4 |  |  | $ | 74.6 |  |  | $ | 331.6 |  |  | $ | 64.8 |  |  | $ | 230.7 |  |  | $ | 61.5 |  |  | $ | 219.5 |  |  | $ | 111.2 |  |  | $ | 63.9 |  |  | $ | 541.6 |  |  | $ | 1,791.8 |
Summary of Unaudited Pro Forma Historical Results | The following is a summary of the unaudited pro forma historical results, as if these entities had been acquired at January 1, 2018 (in millions, except per share data):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Total revenues |  | $ | 7,390.5 |  |  | $ | 7,383.1 |
Net earnings attributable to controlling interests |  |  | 669.1 |  |  |  | 659.3 |
Basic earnings per share |  |  | 3.57 |  |  |  | 3.57 |
Diluted earnings per share |  |  | 3.50 |  |  |  | 3.51 |

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