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Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities | 9 Months Ended
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Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract] |
Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities | NOTE 10 Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities Throughout 2020, the Company deferred $31.1 million in employer-only payroll tax payments as allowed under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES” Act), which was signed into law on March 27, 2020. During the first nine months of 2021, there were no additional deferrals under the CARES Act. The cumulative deferred employer payroll taxes as of December 31, 2020 will be paid in two equal installments by December 31, 2021 and 2022, respectively, as permitted under the CARES Act. During the second quarter of 2021, the Company received an $8.1 million reimbursement for capitalizable costs of public infrastructure improvements related to the construction of the Company’s headquarters in accordance with an economic development grant agreement between the Company and the City of Daytona Beach and Volusia County. The reimbursement has been reflected as a reduction to the additions to fixed asset line item on the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2021. Cash paid during the period for interest and income taxes are summarized as follows:
|  | Nine months ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |
Cash paid during the period for: |  |  |  |  |  |
Interest |  | $ | 59,688 |  |  | $ | 49,802 |
Income taxes, net of refunds |  | $ | 103,875 |  |  | $ | 91,661 |
Significant non-cash investing and financing activities are summarized as follows:
|  | Nine months ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |
Other payables issued for agency acquisitions and purchased customer accounts |  | $ | 3,495 |  |  | $ | 4,350 |
Estimated acquisition earn-out payables and related charges |  | $ | 25,163 |  |  | $ | 96,845 |
Contingent payable issued for agency acquisition |  | $ | 24,114 |  |  | $ | — |
Common stock issued for agency acquisition |  | $ | 4,892 |  |  | $ | — |
Notes payable assumed for agency acquisition |  | $ | 1,355 |  |  | $ | — |
The Company's restricted cash balance is composed of funds held in separate premium trust accounts as required by state law or, in some cases, by agreement with carrier partners. The following is a reconciliation of cash and cash equivalents inclusive of restricted cash as of September 30, 2021 and 2020.
|  | Balance as of September 30, |
(in thousands) |  | 2021 |  |  | 2020 |
Table to reconcile cash and cash equivalents inclusive of restricted cash |  |  |  |  |  |
Cash and cash equivalents |  | $ | 943,969 |  |  | $ | 1,070,190 |
Restricted cash |  |  | 481,922 |  |  |  | 431,651 |
Total cash and cash equivalents inclusive of restricted cash at the end of the period |  | $ | 1,425,891 |  |  | $ | 1,501,841 |

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- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -URI http://asc.fasb.org/topic&trid=2134446 + Details
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- References No definition available. + Details
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