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Supplemental Financial Information | 6 Months Ended
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Jun. 30, 2025
Supplemental Cash Flow Information [Abstract] |
Supplemental Financial Information | Supplemental Financial Information Interest Income The Company earned interest income of $1.5 million and $5.4 million during the three months ended June 30, 2025 and 2024, respectively, and $4.6 million and $13.4 million during the six months ended June 30, 2025 and 2024, respectively, on its operating Cash and cash equivalents. Interest income is recognized in Interest expense, net on the Consolidated Statements of Income. Supplemental Cash Flow Information The following represents the supplemental cash flow information of the Company:
| Six Months Ended June 30, |
| 2025 |  | 2024 |
Cash paid for: |  |  |  |
Interest, net 1 | $95,414 |  | $62,153 |
Income taxes, net of refunds | 6,371 |  | 10,523 |
Non-cash investing and financing activities: |  |  |  |
Non-controlling interest holders’ tax distributions declared but unpaid | $1,643 |  | $415 |
Tax Receivable Agreement liabilities | 24,460 |  | 7,691 |
Dividend Equivalents and Declared Distributions liabilities | 1,662 |  | 3,307 |
Contingently returnable consideration | — |  | 4,868 |
Contingent consideration liabilities | 44,091 |  | — |
1 Interest paid is presented net of $7.9 million and $13.1 million of cash received in connection with the Company’s interest rate cap for the six months ended June 30, 2025 and 2024, respectively. See Note 10, Derivatives, for further information on the interest rate cap. Equity Method Investment On May 1, 2025, the Company acquired a 9.9% interest in Velocity Specialty Insurance Company (“VSIC”), an insurance carrier writing middle market and small to medium business risks in catastrophe exposed areas, for $16.6 million. The Company accounts for its investment in VSIC under the equity method of accounting, as the Company has the ability to exercise significant influence over VSIC primarily th rough board representation.

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