Supplemental Financial Information

6 Months Ended

Jun. 30, 2025

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, net1	$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 through board representation.