XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.22.1

Supplemental Disclosures of Cash Flow Information | 3 Months Ended
--- | ---
Mar. 31, 2022
Cash And Cash Equivalents [Abstract] |
Supplemental Disclosures of Cash Flow Information | 14. Supplemental Disclosures of Cash Flow Information
|  | Three-month period ended March 31, |
Supplemental disclosures of cash flow information (in millions): |  | 2022 |  |  | 2021 |
Interest paid |  | $ | 54.6 |  |  | $ | 51.9 |
Income taxes paid, net |  |  | 43.0 |  |  |  | 41.6 |
The following is a reconciliation of our end of period cash, cash equivalents and restricted cash balances as presented in the consolidated statement of cash flows for the three-month periods ended March 31, 2022 and 2021 (in millions):
|  | March 31, |
|  | 2022 |  |  | 2021 |
Cash and cash equivalents |  | $ | 528.6 |  |  | $ | 526.3 |
Restricted cash |  |  | 4,110.1 |  |  |  | 2,834.6 |
Total cash, cash equivalents and restricted cash |  | $ | 4,638.7 |  |  | $ | 3,360.9 |
We have a qualified contributory savings and thrift 401(k) plan covering the majority of our domestic employees. For eligible employees who have met the plan’s age and service requirements to receive matching contributions, we historically have matched 100% of pre-tax and Roth elective deferrals up to a maximum of 5.0% of eligible compensation, subject to federal limits on plan contributions and not in excess of the maximum amount deductible for federal income tax purposes. Beginning in 2021, the amount matched by the company will be discretionary and annually determined by management. Employees must be employed and eligible for the plan on the last day of the plan year to receive a matching contribution, subject to certain exceptions enumerated in the plan document. Matching contributions are subject to a five-year graduated vesting schedule and can be funded in cash or company stock. We expensed (net of plan forfeitures) $20.1 million and $17.3 million related to the plan in the three-month periods ended March 31, 2022 and 2021, respectively. Our board of directors has authorized a 5.0% employer match on eligible compensation to the 401(k) plan for the 2021 plan year and the use of common stock to fund our 2021 employer matching contributions, which was funded in February 2022. In fourth quarter 2021, in our consolidated statement of cash flows, we reclassed the net funding of premium finance loans from cash flows from operating activities to cash flows from investing activities. This change was made as this better reflects the cash flows associated with these operations. In addition, within cash flows from operating activities, we reclassed the net change in deferred income taxes to provision for deferred income taxes. We made the applicable reclassifications to the prior-period amounts to conform to the current period presentation. The impact of these changes decreased net cash provided by operating activities and decreased net cash used by investing activities by $67.6 million for three-month period ended March 31, 2021. These reclassifications did not impact our previously reported net increase in cash, cash equivalents and restricted cash.

X
- References No definition available. + Details
Name: | us-gaap_CashAndCashEquivalentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_CashAndCashEquivalentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration