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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 19,757 $ 8,233
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 55,117 52,497
Change in fair value of contingent consideration 6,104 18,228
Share-based compensation expense 29,755 28,815
Payment of contingent earnout consideration in excess of purchase price accrual (85,090) (20,373)
Gain on divestitures (290) (37,144)
Amortization of deferred financing costs 2,843 2,997
Loss on extinguishment of debt 0 1,034
Loss on interest rate caps 18 160
Other loss 748 346
Changes in operating assets and liabilities:    
Assumed premiums, commissions and fees receivable, net (53,896) (15,381)
Prepaid expenses and other current assets (4,916) (5,327)
Right-of-use assets 7,950 8,351
Accounts payable, accrued expenses and other current liabilities (19,727) (9,524)
Colleague earnout incentives (31,824) (4,766)
Operating lease liabilities (7,253) (6,800)
Net cash provided by (used in) operating activities (80,704) 21,346
Cash flows from investing activities:    
Capital expenditures (20,310) (18,704)
Cash consideration paid for business combinations, net of cash received (11,699) 0
Proceeds from divestitures, net of cash transferred 1,901 56,415
Investments in and loans for business ventures (15,633) (3,341)
Cash consideration paid for asset acquisitions (460) (268)
Proceeds from repayment of related party loans 0 1,500
Net cash provided by (used in) investing activities (46,201) 35,602
Cash flows from financing activities:    
Change in fiduciary receivables and liabilities, net 55,283 62,254
Payment of contingent earnout consideration up to amount of purchase price accrual (64,256) (59,969)
Proceeds from revolving line of credit 121,000 95,000
Payments on revolving line of credit (9,000) (436,000)
Proceeds from refinancing of long-term debt 935,800 1,440,000
Payments relating to extinguishment and modification of long-term debt (835,800) (996,177)
Payments on long-term debt (4,679) (2,561)
Payments of deferred financing costs 0 (17,242)
Tax distributions to Baldwin Holdings LLC members 0 (11,076)
Other financing activity (510) 2,036
Net cash provided by financing activities 197,838 76,265
Net increase in cash and cash equivalents and fiduciary cash 70,933 133,213
Cash and cash equivalents and fiduciary cash at beginning of period 312,769 226,963
Cash and cash equivalents and fiduciary cash at end of period 383,702 360,176
Supplemental schedule of cash flow information:    
Cash paid during the period for interest 54,528 54,366
Cash paid during the period for income taxes 1,340 2,175
Disclosure of non-cash investing and financing activities:    
Contingent earnout liabilities recognized in business combinations 8,766 0
Right-of-use assets obtained in exchange for operating lease liabilities 2,141 1,912
Capital expenditures incurred but not yet paid 1,639 1,256
Right-of-use assets increased through lease modifications and reassessments 950 78
Equity issued in business combinations 863 0
Conversion of contingent earnout liability to related party notes payable $ 0 $ 5,636