Quarterly report [Sections 13 or 15(d)]

Variable Interest Entities

v3.25.1
Variable Interest Entities
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities Variable Interest Entities
As discussed in Note 1, Basis of Presentation, the Company consolidates the LLC as a VIE under ASC 810. The
Company’s financial position, financial performance, and cash flows effectively represent those of the LLC as of and for
the three months ended March 31, 2025, with the exception of Cash and cash equivalents of $18.7 million, Other current
assets of $11.2 million, Deferred tax assets of $308.7 million, Accounts payable and accrued liabilities of $1.3 million,
Other non-current liabilities of $3.6 million, and the entire balance of the Tax Receivable Agreement liabilities of $447.4
million on the Consolidated Balance Sheets, which are attributable solely to Ryan Specialty Holdings, Inc. As of
December 31, 2024, Cash and cash equivalents of $27.2 million, Other current assets of $15.4 million, Deferred tax assets
of $448.1 million, Accounts payable and accrued liabilities of $0.9 million, Other non-current liabilities of $2.9 million,
and the entire balance of the Tax Receivable Agreement liabilities of $436.3 million on the Consolidated Balance Sheet
were attributable solely to Ryan Specialty Holdings, Inc.