XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.23.2

Supplemental Disclosures of Cash Flow Information | 6 Months Ended
--- | ---
Jun. 30, 2023
Cash and Cash Equivalents [Abstract] |
Supplemental Disclosures of Cash Flow Information | 13. Supplemental Disclosures of Cash Flow Information
|  | Six-month period ended June 30, |
Supplemental disclosures of cash flow information (in millions): |  | 2023 |  |  | 2022 |
Interest paid |  | $ | 127.3 |  |  | $ | 119.7 |
Income taxes paid, net |  |  | 116.7 |  |  |  | 141.0 |
The following is a reconciliation of our end of period cash, cash equivalents, restricted cash and fiduciary cash balances as presented in the consolidated statement of cash flows for the six-month periods ended June 30, 2023 and 2022 (in millions):
|  | June 30, |
|  | 2023 |  |  | 2022 |
Cash and cash equivalents - non-restricted cash |  | $ | 777.9 |  |  | $ | 552.9 |
Cash and cash equivalents - restricted cash |  |  | 174.4 |  |  |  | 128.6 |
Total cash and cash equivalents |  |  | 952.3 |  |  |  | 681.5 |
Fiduciary cash |  |  | 5,989.9 |  |  |  | 4,108.2 |
Total cash, cash equivalents, restricted cash and fiduciary cash |  | $ | 6,942.2 |  |  | $ | 4,789.7 |
Fiduciary cash is included in fiduciary assets in our consolidated balance sheet. 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) $42.3 million and $40.0 million related to the plan in the six-month periods ended June 30, 2023 and 2022, respectively. During 2022, our board of directors authorized the 5.0% employer matching contribution on eligible compensation to the 401(k) plan for the 2022 plan year to be funded with our common stock, which was funded in February 2023. During 2021, our board of directors authorized the 5.0% employer matching contribution on eligible compensation to the 401(k) plan for the 2021 plan year to be funded with our common stock, which was funded in February 2022.

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/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 + Details
Name: | us-gaap_CashAndCashEquivalentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration