XML 21 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows used for operating activities:    
Net income $ 57.5 $ 65.6
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 71.6 61.0
Equity in (earnings) losses 25.6 3.7
Distributions of earnings from real estate ventures 1.6 3.2
Provision for loss on receivables and other assets 9.4 9.9
Amortization of Deferred Compensation 22.0 11.2
Net non-cash mortgage servicing rights and mortgage banking derivative activity 12.9 9.0
Accretion of interest and amortization of debt issuance costs 1.7 1.4
Other 6.9 (8.6)
Increase (Decrease) in Receivables 163.5 156.2
Increase (Decrease) in Reimbursable Receivables and Reimbursable Payables (271.8) (193.4)
Increase (Decrease) in Prepaid Expense and Other Assets (24.0) (18.7)
Increase (Decrease) in Income taxes receivable, payable and deferred (22.7) (24.4)
Increase (Decrease) in Accounts Payable, Accrued Liabilities and Other Liabilities (171.3) (154.5)
Increase (Decrease) in Accrued Compensation (650.5) (599.1)
Net cash used in operating activities (767.6) (677.5)
Cash flows used in investing activities:    
Net capital additions - property and equipment (44.5) (43.2)
Payments to Acquire Interest in Joint Venture (112.9) (17.4)
Proceeds from Real Estate and Real Estate Joint Ventures 4.9 5.7
Other, net (0.3) 0.6
Net cash used in investing activities (152.8) (54.3)
Cash flows provided by financing activities:    
Proceeds from Long-term Lines of Credit 2,232.0 2,760.0
Repayments of Long-term Lines of Credit (1,912.0) (1,990.0)
Proceeds from Issuance of Commercial Paper 1,000.0 0.0
Repayments of Commercial Paper (300.0) 0.0
Proceeds from (Repayments of) Short-term Debt (67.2) (18.7)
Payment for Contingent Consideration Liability, Financing Activities (0.6) (3.1)
Payments for Repurchase of Common Stock (19.7) (20.0)
Noncontrolling interest (distributions) contributions, net (2.9) (1.5)
Other, net (28.9) (23.3)
Net cash provided by financing activities 900.7 703.4
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 11.7 (9.7)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (8.0) (38.1)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 652.7 663.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 644.7 625.3
Supplemental disclosure of cash flow information:    
Restricted Cash, beginning of period 236.5 253.4
Restricted Cash, end of period 212.3 228.6
Cash paid during the period for:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 19.3 22.9
Income taxes, net of refunds 31.0 41.3
Operating Lease, Payments $ 48.7 $ 48.7