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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 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 nine-month period ended September 30, 2022 is summarized below:
|  | Nine-month period ended September 30, |
(In millions) |  | Reported 2022 |  |  | Change |  |  | Revised 2022 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net change in accounts receivable, net |  | $ | — |  |  | $ | (506.6 | ) |  | $ | (506.6 | )
Net change in premium and fees receivable |  |  | (5,776.8 | ) |  |  | 5,776.8 |  |  |  | — |
Net change in premiums payable to underwriting enterprises |  |  | 6,200.1 |  |  |  | (6,200.1 | ) |  |  | — |
Net change in other current assets |  |  | 64.9 |  |  |  | (59.1 | ) |  |  | 5.8 |
Net change in accrued compensation and other accrued liabilities |  |  | 126.4 |  |  |  | (153.9 | ) |  |  | (27.5 | )
Net cash provided by operating activities |  |  | 1,925.0 |  |  |  | (1,142.9 | ) |  |  | 782.1 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Net change in fiduciary assets and liabilities |  |  | — |  |  |  | 1,142.9 |  |  |  | 1,142.9 |
Net cash provided by (used) by financing activities |  |  | (269.7 | ) |  |  | 1,142.9 |  |  |  | 873.2 |

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