Business Combinations (Tables)

3 Months Ended

Mar. 31, 2022

Acquisition Method for Recording Business Combinations

During the three-month period ended March 31, 2022, 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)
Devitt Insurance Services Ltd February 1, 2022 (DIS)		—	$	—	$	73.6	$	1.3	$	3.4	$	12.5	$	90.8	$	12.5
Four other acquisitions completed in 2022		—		—		16.3		2.4		0.7		4.2		23.6		8.4
		—	$	—	$	89.9	$	3.7	$	4.1	$	16.7	$	114.4	$	20.9

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, 2022 (in millions):

			Four Other
	DIS		Acquisitions		Total
Cash and restricted cash	$	3.9	$	1.4	$	5.3
Other current assets		18.5		33.5		52.0
Fixed assets		0.4		—		0.4
Noncurrent assets		1.3		0.4		1.7
Goodwill		54.4		14.5		68.9
Expiration lists		33.3		11.3		44.6
Non-compete agreements		4.1		—		4.1
Trade names		0.8		—		0.8
Total assets acquired		116.7		61.1		177.8
Current liabilities		15.3		32.1		47.4
Noncurrent liabilities		10.6		5.4		16.0
Total liabilities assumed		25.9		37.5		63.4
Total net assets acquired	$	90.8	$	23.6	$	114.4

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, 2021 (in millions, except per share data):

	Three-month period ended
	March 31,
	2022		2021
Total revenues	$	2,438.1	$	2,171.0
Net earnings attributable to controlling interests		438.6		382.2
Basic net earnings per share		2.10		1.96
Diluted net earnings per share		2.05		1.92