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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net earnings $ 708.9 $ 612.7
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Net gain on investments and other (5.8)  
Depreciation and amortization 253.4 207.7
Change in estimated acquisition earnout payables 15.8 (16.1)
Amortization of deferred compensation and restricted stock 28.2 27.2
Stock-based and other noncash compensation expense 13.9 11.1
Payments on acquisition earnouts in excess of original estimates (10.0) (10.9)
Provision for deferred income taxes 55.6 55.7
Effect of changes in foreign exchange rates 24.5 (1.1)
Net change in accounts receivable, net (658.1) (471.9)
Net change in deferred revenue 77.8 80.1
Net change in other current assets 17.9 (8.7)
Net change in accrued compensation and other accrued liabilities 415.8 344.0
Net change in income taxes payable 27.4 (3.3)
Net change in other noncurrent assets and liabilities (93.5) (37.2)
Net cash provided by operating activities 871.8 789.3
Cash flows from investing activities:    
Capital expenditures (28.2) (29.7)
Cash paid for acquisitions, net of cash and restricted cash acquired (331.8) (251.2)
Net proceeds from sales of operations/books of business 1.8 0.1
Net funding of investment transactions 0.3 0.1
Net funding of premium finance loans 82.5 88.8
Net cash used by investing activities (275.4) (191.9)
Cash flows from financing activities:    
Payments on acquisition earnouts (11.1) (45.1)
Proceeds from issuance of common stock 1,334.8 52.0
Payments to noncontrolling interests   (3.1)
Dividends paid (166.0) (130.7)
Net change in fiduciary assets and liabilities 21.3 (205.8)
Net borrowings on premium financing debt facility (74.9) (92.4)
Borrowings on line of credit facility   1,078.2
Repayments on line of credit facility   (1,215.0)
Net borrowings of corporate related long-term debt 0.6 567.2
Debt acquisition costs 2.3 (9.3)
Settlements on terminated interest rate swaps   (1.4)
Net cash provided by financing activities 1,107.0 (5.4)
Effect of changes in foreign exchange rates on cash, cash equivalents, restricted cash and fiduciary cash 67.6 (54.5)
Net increase in cash, cash equivalents, restricted cash and fiduciary cash 1,771.0 537.5
Cash, cash equivalents, restricted cash and fiduciary cash at beginning of period 20,468.6 6,543.3
Cash, cash equivalents, restricted cash and fiduciary cash at end of period $ 22,239.6 $ 7,080.8