XML 44 R32.htm IDEA: XBRL DOCUMENT v3.23.1
Supplemental Disclosures of Cash Flow Information and Non-Cash Financing and Investing Activities (Tables)
3 Months Ended
Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]  
Summary of Cash Paid for Interest and Income Taxes

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

 

Summary of Significant Non-Cash Investing and Financing Activities

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

 

Schedule of Reconciliation of Cash and Cash Equivalents Inclusive of Restricted Cash

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