Ryan Specialty Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Cover Page
Financial Statements
Notes to Financial Statements
Accounting Policies
- Basis of Presentation (Policies)
Notes Tables
Notes Details

Mergers and Acquisitions (Tables)

v3.24.2.u1

Mergers and Acquisitions (Tables)

6 Months Ended

Jun. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Estimated Fair Values of the Aggregate Assets and Liabilities Acquired

The following table summarizes the estimated fair value of the aggregate assets and liabilities acquired during the six months ended June 30, 2024:


	Castel
Cash and cash equivalents	$	10,294
Commissions and fees receivable – net		10,657
Fiduciary cash and receivables		119,333
Goodwill		165,859
Customer relationships1		97,820
Other intangible assets		875
Lease right-of-use assets		1,269
Deferred tax assets		2,823
Other current and non-current assets		1,277
Total assets acquired	$	410,207
Accounts payable and accrued liabilities		1,134
Accrued compensation		43,538
Fiduciary liabilities		119,333
Operating lease liabilities		1,269
Total liabilities assumed	$	165,274
Net assets acquired	$	244,933

1 The acquired customer relationships have a weighted average amortization period of 13.2 years.

Summary of Unaudited Pro forma Financial Information


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total revenue	$	698,977	$	623,315	$	1,260,121	$	1,126,053
Net income		103,806		79,257		147,356		93,055

Summary of Change in Contingent Consideration and Interest Expense

The table below summarizes the amounts recognized:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Change in contingent consideration	$	1,243	$	1,796	$	1,178	$	2,510
Interest expense, net		864		570		1,801		1,441
Total	$	2,107	$	2,366	$	2,979	$	3,951

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
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- References

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- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

+ References

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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-Name Accounting Standards Codification
-Paragraph 1
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