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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, 2025
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 During the nine months ended September 30, 2025, the Company had an impact of $66 million from foreign exchange rate changes on cash, cash equivalents and restricted cash inclusive of fiduciary cash reported on its Condensed Consolidated Statements of Cash Flows due to the change in currency exchange rates. Cash paid during the period for interest and income taxes are summarized as follows:
|  | Nine months ended September 30, |
(in millions) |  | 2025 |  |  | 2024 |
Cash paid during the period for: |  |  |  |  |  |
Interest |  | $ | 144 |  |  | $ | 162 |
Income taxes, net of refunds |  | $ | 319 |  |  | $ | 289 |
During 2024, the Company accrued for and deferred approximately $90 million related to certain federal income tax payments due to Hurricanes Debby and Milton tax relief. These deferrals of income tax payments were paid by the deadline of May 1, 2025. During the nine months ended September 30, 2024, the Company paid $91 million related to certain federal income tax payments that were deferred from 2023 due to Hurricane Idalia tax relief and paid approximately $30 million of tax payments associated with the gain on disposal of certain third-party claims administration and adjusting services businesses sold in the fourth quarter of 2023. Significant non-cash investing and financing activities are summarized as follows:
|  | Nine months ended September 30, |
(in millions) |  | 2025 |  |  | 2024 |
Other payables issued for agency acquisitions and purchased customer accounts |  | $ | 699 |  |  | $ | 14 |
Estimated acquisition earn-out payables issued for agency acquisitions |  | $ | 24 |  |  | $ | 28 |
Assumed acquisition earn-out payables |  | $ | 439 |  |  | $ | — |
Common stock issued for agency acquisition |  | $ | 612 |  |  | $ | — |
The Company's restricted cash balances relate to amounts held in escrow in accordance with the Merger Agreement. Once all claims related to certain indemnification matters described in the Merger Agreement are resolved, the remaining cash in the escrow account will be released to the equityholders. Restricted cash is presented within other assets in the Company's Condensed Consolidated Balance Sheets.
|  | Balance as of September 30, |
(in millions) |  | 2025 |  |  | 2024 |
Table to reconcile cash, cash equivalents and restricted cash inclusive of fiduciary cash |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,190 |  |  | $ | 957 |
Fiduciary cash |  |  | 2,271 |  |  |  | 1,744 |
Restricted cash |  |  | 263 |  |  |  | — |
Total cash, cash equivalents and restricted cash inclusive of fiduciary cash at the end of the period |  | $ | 3,724 |  |  | $ | 2,701 |

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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 -Topic 230 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/230/tableOfContent + Details
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