RYAN SPECIALTY HOLDINGS, INC.RYAN
| Dec 31,
2021 | Dec 31,
2022 | Dec 31,
2023 | Dec 31,
2024 |
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| Net income | 57 | 163 | 194 | 230 |
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| Loss (income) from equity method investment in related party | -1 | -0 | 9 | 18 |
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| Amortization | - | - | - | 158 |
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| Depreciation | 5 | 6 | 9 | 10 |
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| Prepaid and deferred compensation expense | - | 29 | 12 | 31 |
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| Non-cash equity-based compensation | - | 77 | 70 | 79 |
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| Amortization of debt issuance costs | - | - | - | 24 |
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| Amortization of interest rate cap premium | - | 5 | 7 | 7 |
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| Deferred income tax expense | -1 | 9 | 7 | 17 |
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| Other Noncash Income Tax Expense | - | - | 18 | 10 |
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| (Gain) loss on Tax Receivable Agreement | - | -6 | -11 | 2 |
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| Commissions and fees receivable – net | - | 20 | 44 | 22 |
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| Accrued interest liability | - | 8 | 1 | 20 |
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| Other current and non-current assets | - | - | - | 21 |
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| Other current and non-current liabilities | - | - | - | -7 |
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| Total cash flows provided by operating activities | - | 336 | 477 | 515 |
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| Business combinations – net of cash acquired and cash held in a fiduciary capacity | - | - | - | 1,709 |
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| Capital expenditures | - | 15 | 30 | 47 |
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| Asset acquisitions | 343 | 8 | - | - |
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| Repayments of prepaid incentives | - | - | 0 | - |
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| Total cash flows used in investing activities | - | -22 | -476 | -1,756 |
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| Proceeds from Senior Secured Notes | - | 394 | - | 1,187 |
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| Borrowings on Revolving Credit Facility | - | - | - | 1,250 |
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| Repayments on Revolving Credit Facility | - | - | - | 1,250 |
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| Debt issuance costs paid | - | 2 | - | 26 |
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| Proceeds from term debt | - | - | - | 108 |
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| Repayment of term debt | - | 17 | 17 | 8 |
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| Payment of contingent consideration | - | 6 | 5 | - |
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| Tax distributions to non-controlling LLC Unitholders | - | - | - | 83 |
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| Receipt of taxes related to net share settlement of equity awards | - | 7 | 8 | 28 |
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| Taxes paid related to net share settlement of equity awards | - | - | 9 | 27 |
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| Payment of Tax Receivable Agreement liabilities | - | 8 | 16 | 22 |
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| Dividends paid to Class A common shareholders | - | - | - | 80 |
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| Distributions to non-controlling LLC Unitholders | - | - | - | 22 |
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| Payment of accrued return on Ryan Re preferred units | - | - | - | 2 |
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| Net change in fiduciary liabilities | 147 | -17 | -97 | -114 |
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| Total cash flows provided by (used in) financing activities | - | 315 | -13 | 1,167 |
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| Effect of changes in foreign exchange rates on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | - | -0 | 1 | -2 |
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| NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH AND CASH EQUIVALENTS HELD IN A FIDUCIARY CAPACITY | - | 628 | -11 | -76 |
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