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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combinations [Abstract] |
Acquisition Method for Recording Business Combinations | During the six-month period ended June 30, 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 |  |  |  | — |
OperationsInc, LLC June 1, 2024 (OPR) |  |  | — |  |  | $ | — |  |  | $ | 52.6 |  |  | $ | — |  |  | $ | 2.8 |  |  | $ | 11.0 |  |  | $ | 66.4 |  |  | $ | 20.0 |
Twenty-one other acquisitions completed in 2024 |  |  | 229 |  |  |  | 48.8 |  |  |  | 271.3 |  |  |  | 2.6 |  |  |  | 16.8 |  |  |  | 53.3 |  |  |  | 392.8 |  |  |  | 108.5 |
|  |  | 358 |  |  | $ | 78.9 |  |  | $ | 467.6 |  |  | $ | 2.6 |  |  | $ | 33.6 |  |  | $ | 71.3 |  |  | $ | 654.0 |  |  | $ | 138.5 |
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 six-month period ended June 30, 2024 (in millions):
|  |  |  |  |  |  |  |  |  |  |  |  | Twenty-one Other |  |  |  |
|  |  |  | EIS |  |  | TRA |  |  | OPR |  |  | Acquisitions |  |  | Total |
Cash and cash equivalents |  |  |  | $ | 0.1 |  |  | $ | 4.1 |  |  | $ | 0.8 |  |  | $ | 9.9 |  |  | $ | 14.9 |
Fiduciary assets |  |  |  |  | 1.0 |  |  |  | 2.6 |  |  |  | — |  |  |  | 34.1 |  |  |  | 37.7 |
Other current assets |  |  |  |  | 3.5 |  |  |  | 0.5 |  |  |  | 2.7 |  |  |  | 11.3 |  |  |  | 18.0 |
Fixed assets |  |  |  |  | — |  |  |  | 0.4 |  |  |  | — |  |  |  | 0.7 |  |  |  | 1.1 |
Noncurrent assets |  |  |  |  | 0.1 |  |  |  | 1.7 |  |  |  | 2.0 |  |  |  | 3.8 |  |  |  | 7.6 |
Goodwill |  |  |  |  | 27.4 |  |  |  | 65.8 |  |  |  | 41.9 |  |  |  | 205.9 |  |  |  | 341.0 |
Expiration lists |  |  |  |  | 35.9 |  |  |  | 57.4 |  |  |  | 22.1 |  |  |  | 185.5 |  |  |  | 300.9 |
Non-compete agreements |  |  |  |  | 0.5 |  |  |  | 0.6 |  |  |  | 0.2 |  |  |  | 6.2 |  |  |  | 7.5 |
Trade names |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.3 |  |  |  | 0.3 |
Total assets acquired |  |  |  |  | 68.5 |  |  |  | 133.1 |  |  |  | 69.7 |  |  |  | 457.7 |  |  |  | 729.0 |
Fiduciary liabilities |  |  |  |  | 1.0 |  |  |  | 2.6 |  |  |  | — |  |  |  | 34.1 |  |  |  | 37.7 |
Current liabilities |  |  |  |  | 0.8 |  |  |  | 0.6 |  |  |  | 1.1 |  |  |  | 14.7 |  |  |  | 17.2 |
Noncurrent liabilities |  |  |  |  | 0.1 |  |  |  | 1.7 |  |  |  | 2.2 |  |  |  | 16.1 |  |  |  | 20.1 |
Total liabilities assumed |  |  |  |  | 1.9 |  |  |  | 4.9 |  |  |  | 3.3 |  |  |  | 64.9 |  |  |  | 75.0 |
Total net assets acquired |  |  |  | $ | 66.6 |  |  | $ | 128.2 |  |  | $ | 66.4 |  |  | $ | 392.8 |  |  | $ | 654.0 |
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 |  |  | Six-month period ended |
| June 30, |  |  | June 30, |
| 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Total revenues | $ | 2,785.4 |  |  | $ | 2,478.5 |  |  | $ | 6,061.9 |  |  | $ | 5,223.0 |
Net earnings attributable to controlling interests |  | 283.9 |  |  |  | 235.8 |  |  |  | 893.7 |  |  |  | 724.9 |
Basic net earnings per share |  | 1.30 |  |  |  | 1.10 |  |  |  | 4.10 |  |  |  | 3.38 |
Diluted net earnings per share |  | 1.27 |  |  |  | 1.07 |  |  |  | 4.02 |  |  |  | 3.32 |

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