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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net earnings $ 486.6 $ 439.1
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Net gain on investments and other   (1.0)
Depreciation and amortization 159.4 159.8
Change in estimated acquisition earnout payables 41.8 20.9
Amortization of deferred compensation and restricted stock 22.9 18.1
Stock-based and other noncash compensation expense 3.8 2.4
Payments on acquisition earnouts in excess of original estimates (35.3) (29.4)
Provision for deferred income taxes 31.9 28.1
Effect of changes in foreign exchange rates 0.3 (2.4)
Net change in accounts receivable, net (642.2) (553.2)
Net change in deferred revenue 74.7 59.3
Net change in other current assets 17.3 14.0
Net change in accrued compensation and other accrued liabilities 298.1 108.0
Net change in income taxes payable 21.0 11.6
Net change in other noncurrent assets and liabilities (51.8) (58.7)
Net cash provided by operating activities 428.5 216.6
Cash flows from investing activities:    
Capital expenditures (29.7) (37.7)
Cash paid for acquisitions, net of cash and restricted cash acquired (311.4) (121.7)
Net proceeds from sales of operations/books of business 0.1 1.0
Net funding of investment transactions 0.4 (0.1)
Net funding of premium finance loans 84.0 64.2
Net cash used by investing activities (256.6) (94.3)
Cash flows from financing activities:    
Payments on acquisition earnouts (66.6) (32.2)
Proceeds from issuance of common stock 30.3 45.9
Payments to noncontrolling interests (0.7) (0.8)
Dividends paid (117.4) (106.7)
Net change in fiduciary assets and liabilities 311.8 218.0
Net borrowings on premium financing debt facility (83.7) (62.1)
Borrowings on line of credit facility 605.0 380.0
Repayments on line of credit facility (665.0) (425.0)
Net borrowings of corporate related long-term debt 893.7 0.1
Debt acquisition costs (9.3) 0.5
Settlements on terminated interest rate swaps 60.0  
Net cash provided by financing activities 958.1 17.7
Effect of changes in foreign exchange rates on cash and cash equivalents and restricted cash (3.2) 32.4
Net increase in cash, cash equivalents, restricted cash and fiduciary cash 1,126.8 172.4
Cash, cash equivalents, restricted cash and fiduciary cash at beginning of period 4,964.2 4,466.3
Cash, cash equivalents, restricted cash and fiduciary cash at end of period $ 6,091.0 $ 4,638.7