Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities

3 Months Ended

Mar. 31, 2023

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 three months ended March 31, 2023, the Company had an impact of $14.3 million on foreign exchange rate changes on cash and cash equivalents inclusive of fiduciary cash reported on its Condensed Consolidated Statements of Cash Flows which is primarily due to the increase in currency exchange rates for British pounds.

Cash paid during the period for interest and income taxes are summarized as follows:

	Three months ended March 31,
(in millions)	2023		2022
Cash paid during the period for:
Interest	$	72.9	$	27.1
Income taxes, net of refunds	$	43.9	$	4.6

Significant non-cash investing and financing activities are summarized as follows:

	Three months ended March 31,
(in millions)	2023		2022
Other payables issued for agency acquisitions and purchased customer accounts	$	0.2	$	—
Estimated acquisition earn-out payables issued for agency acquisitions	$	19.6	$	10.8

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 March 31, 2023 and 2022.

(in millions)	March 31, 2023		December 31, 2022
Table to reconcile restricted and non-restricted fiduciary cash
Restricted fiduciary cash	$	1,210.8	$	1,231.9
Non-restricted fiduciary cash		169.2		151.3
Total restricted and non-restricted fiduciary cash at the end of the period	$	1,380.0	$	1,383.2