
	Three-month period ended March 31,
Supplemental disclosures of cash flow information (in millions):	2025		2024
Interest paid	$	133.0	$	104.4
Income taxes paid, net		67.3		71.7

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 three-month periods ended March 31, 2025 and 2024 (in millions):


	March 31,
	2025		2024
Cash and cash equivalents - non-restricted cash	$	16,482.6	$	1,571.6
Cash and cash equivalents - restricted cash		209.2		191.0
Total cash and cash equivalents		16,691.8		1,762.6
Fiduciary cash		5,547.8		5,318.2
Total cash, cash equivalents, restricted cash and fiduciary cash	$	22,239.6	$	7,080.8

Total cash and cash equivalents, restricted cash and fiduciary cash at March 31, 2025 and March 31, 2024, include $17,044.9 million and $2,116.1 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 from the AssuredPartners Financing ($13.5 billion) and proceeds received in January 2025 from the exercise by the underwriters of the overallotment provision related to the follow-on-common stock offering ($1.3 billion). Refer to Note 6 for more information regarding the senior notes. 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 $154.2 million during March 31, 2025 ($142.6 million of which related to the proceeds from the AssuredPartners Financing) to $247.6 million for the period ended March 31, 2024 compared to $93.4 million for the period ended March 31, 2024.

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 pretax 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) $29.9 million and $26.1 million related to the plan in the three-month periods ended March 31, 2025 and 2024, respectively. During 2024, our management authorized the 5.0% employer matching contribution on eligible compensation to the 401(k) plan for the 2024 plan year to be funded with our common stock, which was funded in February 2025. During 2023, our management authorized the 5.0% employer matching contribution 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.