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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net earnings $ 1,348.7 $ 1,212.2
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Net gain on investments and other (3.7) (23.9)
Depreciation and amortization 760.5 629.3
Change in estimated acquisition earnout payables 39.1 (12.6)
Amortization of deferred compensation and restricted stock 100.9 87.8
Stock-based and other noncash compensation expense 37.3 32.1
Payments on acquisition earnouts in excess of original estimates (488.9) (36.8)
Provision for deferred income taxes 53.6 2.7
Effect of changes in foreign exchange rates 48.6 16.0
Net change in accounts receivable, net (463.8) (110.5)
Net change in deferred revenue 50.0 19.4
Net change in other current assets (61.6) (12.1)
Net change in accrued compensation and other accrued liabilities (42.4) 41.4
Net change in income taxes payable (110.1) (36.3)
Net change in other noncurrent assets and liabilities (91.2) 34.9
Net cash provided by operating activities 1,177.0 1,843.6
Cash flows from investing activities:    
Capital expenditures (105.4) (98.3)
Cash paid for acquisitions, net of cash and restricted cash acquired (15,312.4) (669.4)
Net proceeds from sales of operations/books of business 5.5 21.2
Net funding of investment transactions 0.9 0.4
Net funding of premium finance loans 7.0 16.1
Net cash used by investing activities (15,404.4) (730.0)
Cash flows from financing activities:    
Payments on acquisition earnouts (372.5) (130.6)
Proceeds from issuance of common stock 1,481.3 138.0
Payments to noncontrolling interests 0.0 (3.4)
Dividends paid (499.5) (393.6)
Net change in fiduciary assets and liabilities 1,338.2 655.6
Net borrowings on premium financing debt facility (0.1) (29.7)
Borrowings on line of credit facility 1,203.3 1,663.2
Repayments on line of credit facility (1,073.3) (1,906.9)
Net borrowings of corporate related long-term debt (198.6) 568.7
Debt acquisition costs 7.1 (7.6)
Settlements on terminated interest rate swaps 0.0 (1.4)
Net cash provided by financing activities 1,885.9 552.3
Effect of changes in foreign exchange rates on cash, cash equivalents, restricted cash and fiduciary cash 213.2 85.8
Net (decrease) increase in cash, cash equivalents, restricted cash and fiduciary cash (12,128.3) 1,751.7
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 $ 8,340.3 $ 8,295.0