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Business Combinations (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Combinations [Abstract] |
Acquisition Method for Recording Business Combinations | During the three-month period ended March 31, 2024, we acquired substantially all of the ownership interest or net assets, as applicable, 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) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ericson Insurance Services, LLC January 1, 2024 (EIS) |  |  | 129 |  |  | $ | 30.1 |  |  | $ | 26.5 |  |  | $ | — |  |  | $ | 3.0 |  |  | $ | 7.0 |  |  | $ | 66.6 |  |  | $ | 10.0 |
The Rowley Agency, LLC January 1, 2024 (TRA) |  |  | — |  |  |  | — |  |  |  | 117.2 |  |  |  | — |  |  |  | 11.0 |  |  |  | — |  |  |  | 128.2 |  |  |  | — |
Ten other acquisitions completed in 2024 |  |  | 229 |  |  |  | 48.8 |  |  |  | 99.9 |  |  |  | 0.6 |  |  |  | 7.9 |  |  |  | 23.9 |  |  |  | 181.1 |  |  |  | 46.6 |
|  |  | 358 |  |  | $ | 78.9 |  |  | $ | 243.6 |  |  | $ | 0.6 |  |  | $ | 21.9 |  |  | $ | 30.9 |  |  | $ | 375.9 |  |  | $ | 56.6 |
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, 2024 (in millions):
|  |  |  |  |  |  |  |  |  | Ten Other |  |  |  |
|  |  |  | EIS |  |  | TRA |  |  | Acquisitions |  |  | Total |
Cash and cash equivalents |  |  |  | $ | 0.1 |  |  | $ | 4.1 |  |  | $ | 4.3 |  |  | $ | 8.5 |
Fiduciary assets |  |  |  |  | 1.0 |  |  |  | 2.6 |  |  |  | 10.4 |  |  |  | 14.0 |
Other current assets |  |  |  |  | 3.5 |  |  |  | 0.5 |  |  |  | 4.5 |  |  |  | 8.5 |
Fixed assets |  |  |  |  | — |  |  |  | 0.4 |  |  |  | 0.1 |  |  |  | 0.5 |
Noncurrent assets |  |  |  |  | 0.1 |  |  |  | 1.7 |  |  |  | 1.0 |  |  |  | 2.8 |
Goodwill |  |  |  |  | 27.4 |  |  |  | 65.8 |  |  |  | 94.1 |  |  |  | 187.3 |
Expiration lists |  |  |  |  | 35.9 |  |  |  | 57.4 |  |  |  | 88.1 |  |  |  | 181.4 |
Non-compete agreements |  |  |  |  | 0.5 |  |  |  | 0.6 |  |  |  | 3.3 |  |  |  | 4.4 |
Total assets acquired |  |  |  |  | 68.5 |  |  |  | 133.1 |  |  |  | 205.8 |  |  |  | 407.4 |
Fiduciary liabilities |  |  |  |  | 1.0 |  |  |  | 2.6 |  |  |  | 10.4 |  |  |  | 14.0 |
Current liabilities |  |  |  |  | 0.8 |  |  |  | 0.6 |  |  |  | 7.2 |  |  |  | 8.6 |
Noncurrent liabilities |  |  |  |  | 0.1 |  |  |  | 1.7 |  |  |  | 7.1 |  |  |  | 8.9 |
Total liabilities assumed |  |  |  |  | 1.9 |  |  |  | 4.9 |  |  |  | 24.7 |  |  |  | 31.5 |
Total net assets acquired |  |  |  | $ | 66.6 |  |  | $ | 128.2 |  |  | $ | 181.1 |  |  | $ | 375.9 |
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, 2023 (in millions, except per share data):
| Three-month period ended |
| March 31, |
| 2024 |  |  | 2023 |
Total revenues | $ | 3,257.9 |  |  | $ | 2,727.5 |
Net earnings attributable to controlling interests |  | 608.3 |  |  |  | 488.3 |
Basic net earnings per share |  | 2.80 |  |  |  | 2.29 |
Diluted net earnings per share |  | 2.74 |  |  |  | 2.25 |

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