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Business Combinations (Tables)

3 Months Ended

Mar. 31, 2026

Acquisition Method for Recording Business Combinations

These acquisitions have been accounted for using the acquisition method for recording business combinations (in millions, except share data):


Name and Effective Date of Acquisition	Common Shares Issued	Common Shares Value		Cash Paid		Accrued Liability		Escrow Deposited		Recorded Earnout Payable		Total Recorded Purchase Price		Maximum Potential Earnout Payable
	(000s)
Krose GmbH & Co KG February 25, 2026 (KGC)	66	$	15	$	203	$	2	$	—	$	—	$	220	$	—



Eight other acquisitions completed in 2026	—	—		82		2		7		23		114		40
	66	$	15	$	285	$	4	$	7	$	23	$	334	$	40

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 three-month period ended March 31, 2026 (in millions):


	KGC		Eight Other Acquisitions		Total
Cash and cash equivalents	$	4	$	7	$	11
Fiduciary assets	6		5		11
Other current assets	1		—		1
Fixed assets	3		—		3
Noncurrent assets	—		1		1
Goodwill	145		56		201
Expiration lists	102		60		162
Non-compete agreements	11		2		13

Total assets acquired	272		131		403
Fiduciary liabilities	6		5		11
Current liabilities	10		1		11
Noncurrent liabilities	36		11		47
Total liabilities assumed	52		17		69
Total net assets acquired	$	220	$	114	$	334

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, 2025 (in millions, except per share data):


	Three-month period ended March 31,
	2026		2025
Total revenues	$	4,765	$	3,740
Net earnings attributable to controlling interests	822		706
Basic net earnings per share	3.20		2.77
Diluted net earnings per share	3.16		2.72

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

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