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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Acquisition Method for Recording Business Combinations | During 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):
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) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 |  |  |  | — |
LDJ American Online Benefits Group, LLC May 1, 2021 (LDJ) |  |  | — |  |  |  | — |  |  |  | 38.2 |  |  |  | — |  |  |  | 7.1 |  |  |  | 14.8 |  |  |  | 60.1 |  |  |  | 20.0 |
Edelweiss Gallagher Insurance Brokers Limited (EDW) October 1, 2021 |  |  | — |  |  |  | — |  |  |  | 35.7 |  |  |  | 5.3 |  |  |  | — |  |  |  | 8.5 |  |  |  | 49.5 |  |  |  | 9.9 |
Manchester Underwriting Agencies Limited (MUA) October 1, 2021 |  |  | — |  |  |  | — |  |  |  | 33.0 |  |  |  | 3.9 |  |  |  | 1.4 |  |  |  | 16.5 |  |  |  | 54.8 |  |  |  | 20.6 |
Willis Reinsurance operations (WRE) December 1, 2021 |  |  | — |  |  |  | — |  |  |  | 3,278.9 |  |  |  | — |  |  |  | — |  |  |  | 300.0 |  |  |  | 3,578.9 |  |  |  | 750.0 |
Thirty-two other acquisitions completed in 2021 |  |  | 1,008 |  |  |  | 149.9 |  |  |  | 224.2 |  |  |  | 19.0 |  |  |  | 30.1 |  |  |  | 66.3 |  |  |  | 489.5 |  |  |  | 133.9 |
|  |  | 1,008 |  |  | $ | 149.9 |  |  | $ | 4,033.2 |  |  | $ | 28.2 |  |  | $ | 45.4 |  |  | $ | 414.8 |  |  | $ | 4,671.5 |  |  | $ | 969.4 |
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 2021 (in millions):
|  | AGH |  |  | BWG |  |  | LDG |  |  | EDW |  |  | MUA |  |  | WRE |  |  | Thirty-two Other Acquisitions |  |  | Total |
Cash and restricted cash |  | $ | 32.8 |  |  | $ | 24.9 |  |  | $ | 0.7 |  |  | $ | 2.7 |  |  | $ | 5.8 |  |  | $ | 748.7 |  |  | $ | 24.5 |  |  | $ | 840.1 |
Premiums and fees receivable |  |  | 111.4 |  |  |  | 8.7 |  |  |  | 7.8 |  |  |  | 8.2 |  |  |  | 4.0 |  |  |  | 5,410.8 |  |  |  | 68.4 |  |  |  | 5,619.3 |
Other current assets |  |  | 0.6 |  |  |  | 6.6 |  |  |  | 8.0 |  |  |  | 3.7 |  |  |  | 2.4 |  |  |  | 41.4 |  |  |  | 4.4 |  |  |  | 67.1 |
Fixed assets |  |  | 7.4 |  |  |  | 3.8 |  |  |  | — |  |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 51.5 |  |  |  | 0.3 |  |  |  | 63.6 |
Noncurrent assets |  |  | 1.2 |  |  |  | 5.3 |  |  |  | 0.2 |  |  |  | 3.1 |  |  |  | 0.5 |  |  |  | 14.6 |  |  |  | 8.3 |  |  |  | 33.2 |
Goodwill |  |  | 45.9 |  |  |  | 257.1 |  |  |  | 25.7 |  |  |  | 40.3 |  |  |  | 32.1 |  |  |  | 1,930.8 |  |  |  | 229.6 |  |  |  | 2,561.5 |
Expiration lists |  |  | 39.7 |  |  |  | 81.6 |  |  |  | 25.4 |  |  |  | 24.3 |  |  |  | 17.5 |  |  |  | 1,588.2 |  |  |  | 251.1 |  |  |  | 2,027.8 |
Non-compete agreements |  |  | 0.3 |  |  |  | 1.2 |  |  |  | 0.2 |  |  |  | 0.5 |  |  |  | 1.5 |  |  |  | — |  |  |  | 3.6 |  |  |  | 7.3 |
Trade names |  |  | — |  |  |  | 3.4 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.3 |  |  |  | — |  |  |  | 1.3 |  |  |  | 5.2 |
Total assets acquired |  |  | 239.3 |  |  |  | 392.6 |  |  |  | 68.2 |  |  |  | 83.1 |  |  |  | 64.4 |  |  |  | 9,786.0 |  |  |  | 591.5 |  |  |  | 11,225.1 |
Premiums payables to underwriting enterprises |  |  | 125.2 |  |  |  | 18.5 |  |  |  | 6.4 |  |  |  | 2.9 |  |  |  | 1.5 |  |  |  | 5,936.4 |  |  |  | 63.8 |  |  |  | 6,154.7 |
Other current liabilities |  |  | 4.6 |  |  |  | 21.1 |  |  |  | 1.6 |  |  |  | 3.5 |  |  |  | 2.4 |  |  |  | 197.8 |  |  |  | 16.5 |  |  |  | 247.5 |
Noncurrent liabilities |  |  | 0.2 |  |  |  | 23.6 |  |  |  | 0.1 |  |  |  | 27.2 |  |  |  | 5.7 |  |  |  | 72.9 |  |  |  | 21.7 |  |  |  | 151.4 |
Total liabilities assumed |  |  | 130.0 |  |  |  | 63.2 |  |  |  | 8.1 |  |  |  | 33.6 |  |  |  | 9.6 |  |  |  | 6,207.1 |  |  |  | 102.0 |  |  |  | 6,553.6 |
Total net assets acquired |  | $ | 109.3 |  |  | $ | 329.4 |  |  | $ | 60.1 |  |  | $ | 49.5 |  |  | $ | 54.8 |  |  | $ | 3,578.9 |  |  | $ | 489.5 |  |  | $ | 4,671.5 |
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):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Total revenues |  | $ | 9,065.5 |  |  | $ | 7,979.4 |
Net earnings attributable to controlling interests |  |  | 1,004.2 |  |  |  | 881.8 |
Basic net earnings per share |  |  | 4.84 |  |  |  | 4.36 |
Diluted net earnings per share |  |  | 4.74 |  |  |  | 4.27 |

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