
	Year ended December 31,
Supplemental disclosures of cash flow information (in millions):	2024		2023		2022
Interest paid	$	346.8	$	270.8	$	240.2
Income taxes paid, net		330.6		225.8		317.6

The 2023 income taxes paid amount was favorably impacted due to the reversal of tax method changes on filing of the 2022 tax return. In 2022, we elected to defer the utilization of 2021 and 2022 net operating losses in the U.K. causing additional cash tax payments of $28.4 million relating to 2021 and $49.0 million relating to 2022. Both the U.S. and U.K. payments would have been made in future periods, and do not represent additional taxes due.

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 years ended December 31, 2024, 2023 and 2022 (in millions):


	December 31,
	2024		2023		2022
Cash and cash equivalents - non-restricted cash	$	14,758.7	$	780.9	$	539.4
Cash and cash equivalents - restricted cash		228.6		190.6		199.0
Total cash and cash equivalents	$	14,987.3	$	971.5	$	738.4
Fiduciary cash		5,481.3		5,571.8		4,225.8
Total cash, cash equivalents, restricted cash and fiduciary cash	$	20,468.6	$	6,543.3	$	4,964.2

Total cash and cash equivalents, restricted cash and fiduciary cash at December 31, 2024 and December 31, 2023, include $15,371.6 million and $1,744.9 million, respectively, of income earning money market accounts. The increase in cash invested in money market accounts between years is primarily due to the proceeds received in December 2024 from the stock issuance ($8.5 billion) and senior notes ($5.0 billion). Refer to Note 7 for more information regarding the senior notes. These proceeds are intended to be used toward the acquisition of AssuredPartners, refer to Note 3 for more information regarding this acquisition. The dividend income on money market accounts was recorded in interest income, premium finance and other income in our consolidated statement of earnings, which increased $105.9 million during 2024 ($29.0 million of which related to the proceeds from the AssuredPartners financing) to $473.2 million for the year ended December 31, 2024 compared to $367.3 million for the year ended December 31, 2023.

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 the common stock of the Company. We expensed (net of plan forfeitures) $105.4 million, $86.0 million and $73.8 million related to the plan in 2024, 2023 and 2022, respectively. During 2023, management determined the 5.0% employer matching contributions on eligible compensation to the 401(k) plan for the 2023 plan year to be funded with our common stock, which was funded in February 2024. During 2024, management determined the 5.0% employer matching contributions on eligible compensation to the 401(k) plan for the 2024 plan year to be funded with our common stock, which is expected to be funded in February 2025.