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v3.23.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2023
Accounting Policies [Abstract] |
Summary of Changes to the Presentation of Consolidated Balance Sheet and Statement of Cash Flows | The effect of the changes to the presentation of our consolidated balance sheet as of December 31, 2022 is summarized below:
|  | December 31, |
(In millions) |  | Reported 2022 |  |  | Change |  |  | Revised 2022 |
Cash and cash equivalents |  | $ | 342.3 |  |  | $ | 396.1 |  |  | $ | 738.4 |
Restricted cash |  |  | 4,621.9 |  |  |  | (4,621.9 | ) |  |  | — |
Premiums and fees receivable |  |  | 16,408.9 |  |  |  | (16,408.9 | ) |  |  | — |
Fiduciary assets |  |  | — |  |  |  | 18,236.7 |  |  |  | 18,236.7 |
Accounts receivable, net |  |  | — |  |  |  | 2,911.1 |  |  |  | 2,911.1 |
Other current assets |  |  | 1,461.5 |  |  |  | (1,062.5 | ) |  |  | 399.0 |
Total current assets |  |  | 22,834.6 |  |  |  | (549.4 | ) |  |  | 22,285.2 |
Total assets |  |  | 38,907.8 |  |  |  | (549.4 | ) |  |  | 38,358.4 |
Premium payable to underwriting enterprises |  |  | 18,698.2 |  |  |  | (18,698.2 | ) |  |  | — |
Fiduciary liabilities |  |  | — |  |  |  | 18,236.7 |  |  |  | 18,236.7 |
Accrued compensation and other accrued liabilities |  |  | 2,091.2 |  |  |  | (87.9 | ) |  |  | 2,003.3 |
Total current liabilities |  |  | 21,888.0 |  |  |  | (549.4 | ) |  |  | 21,338.6 |
Total liabilities |  |  | 29,717.6 |  |  |  | (549.4 | ) |  |  | 29,168.2 |
Total liabilities and stockholders' equity |  |  | 38,907.8 |  |  |  | (549.4 | ) |  |  | 38,358.4 |
The effect of the changes to the presentation of our statement of cash flows for the three-month period ended March 31, 2022 is summarized below:
|  | Three-month period ended March 31, |
(In millions) |  | Reported 2022 |  |  | Change |  |  | Revised 2022 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net change in accounts receivable, net |  | $ | — |  |  | $ | (553.2 | ) |  | $ | (553.2 | )
Net change in premium and fees receivable |  |  | (9,827.3 | ) |  |  | 9,827.3 |  |  |  | — |
Net change in premiums payable to underwriting enterprises |  |  | 9,331.3 |  |  |  | (9,331.3 | ) |  |  | — |
Net change in other current assets |  |  | 120.1 |  |  |  | (106.1 | ) |  |  | 14.0 |
Net change in accrued compensation and other accrued liabilities |  |  | 162.7 |  |  |  | (54.7 | ) |  |  | 108.0 |
Net cash provided by operating activities |  |  | 434.6 |  |  |  | (218.0 | ) |  |  | 216.6 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in fiduciary assets and liabilities |  |  | — |  |  |  | 218.0 |  |  |  | 218.0 |
Net cash provided by (used) by financing activities |  |  | (200.3 | ) |  |  | 218.0 |  |  |  | 17.7 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
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