Business Combinations (Tables)

3 Months Ended

Mar. 31, 2021

Acquisition Method for Recording Business Combinations

During the three-month period ended March 31, 2021, 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):

													Total		Maximum
	Common		Common								Recorded		Recorded		Potential
Name and Effective	Shares		Share				Accrued		Escrow		Earnout		Purchase		Earnout
Date of Acquisition	Issued		Value		Cash Paid		Liability		Deposited		Payable		Price		Payable
	(000s)
Atlas General Holdings, LLC
January 1, 2021 (AGH)		—	$	—	$	95.2	$	—	$	5.4	$	8.7	$	109.3	$	35.0
Bollington Wilson Group
February 5, 2021 (BWG)		—		—		328.0		—		1.4		—		329.4		—
Four other acquisitions completed in 2021		60		6.3		19.7		24.8		1.6		10.8		63.2		16.6
		60	$	6.3	$	442.9	$	24.8	$	8.4	$	19.5	$	501.9	$	51.6

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 the three‑month period ended March 31, 2021 (in millions):

					Four Other
	AGH		BWG		Acquisitions		Total
Cash and restricted cash	$	32.8	$	24.9	$	3.4	$	61.1
Other current assets		112.0		15.2		3.9		131.1
Fixed assets		0.7		3.8		—		4.5
Noncurrent assets		1.2		5.3		0.4		6.9
Goodwill		34.8		223.0		30.7		288.5
Expiration lists		56.4		109.1		30.9		196.4
Non-compete agreements		1.4		16.1		0.7		18.2
Trade names		—		3.2		—		3.2
Total assets acquired		239.3		400.6		70.0		709.9
Current liabilities		129.8		39.6		5.6		175.0
Noncurrent liabilities		0.2		31.6		1.2		33.0
Total liabilities assumed		130.0		71.2		6.8		208.0
Total net assets acquired	$	109.3	$	329.4	$	63.2	$	501.9

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, 2020 (in millions, except per share data):

	Three-month period ended
	March 31,
	2021		2020
Total revenues	$	2,171.5	$	1,889.5
Net earnings attributable to controlling interests		382.0		345.0
Basic net earnings per share		1.96		1.83
Diluted net earnings per share		1.92		1.78