XML 42 R28.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Information |
20. | Segment Information
We have three reportable operating segments: brokerage, risk management and corporate. Our brokerage segment is primarily comprised of our retail and wholesale insurance brokerage operations. Our brokerage segment generates revenues through commissions paid by underwriting enterprises and through fees charged to our clients. Our brokers, agents and administrators act as intermediaries between underwriting enterprises and our clients and we do not assume net underwriting risks. Our risk management segment provides contract claim settlement and administration services for enterprises that choose to self-insure some or all of their property/casualty coverages and for underwriting enterprises that choose to outsource some or all of their property/casualty claims departments. These operations also provide claims management, loss control consulting and insurance property appraisal services. Revenues are principally generated on a negotiated per-claim or per-service fee basis. Our risk management segment also provides risk management consulting services that are recognized as the services are delivered. Our corporate segment manages our clean energy investments. In addition, our corporate segment reports the financial information related to our debt, and external acquisition-related expenses and other corporate costs. Allocations of investment income and certain expenses are based on reasonable assumptions and estimates primarily using revenue, headcount and other information. We allocate the provision for income taxes to the brokerage and risk management segments using the local county statutory rates. Reported operating results by segment would change if different methods were applied. Financial information relating to our segments for 2017, 2016 and 2015 is as follows (in millions):
Year Ended December 31, 2017 |  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 2,627.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,627.1 |
Fees |  |  | 868.8 |  |  |  | 768.0 |  |  |  | — |  |  |  | 1,636.8 |
Supplemental revenues |  |  | 163.7 |  |  |  | — |  |  |  | — |  |  |  | 163.7 |
Contingent revenues |  |  | 111.8 |  |  |  | — |  |  |  | — |  |  |  | 111.8 |
Investment income |  |  | 55.7 |  |  |  | 0.6 |  |  |  | — |  |  |  | 56.3 |
Gains on books of business sales and other |  |  | 3.4 |  |  |  | — |  |  |  | — |  |  |  | 3.4 |
Revenue from clean coal activities |  |  | — |  |  |  | — |  |  |  | 1,560.5 |  |  |  | 1,560.5 |
Total revenues |  |  | 3,830.5 |  |  |  | 768.6 |  |  |  | 1,560.5 |  |  |  | 6,159.6 |
Compensation |  |  | 2,217.2 |  |  |  | 446.9 |  |  |  | 88.2 |  |  |  | 2,752.3 |
Operating |  |  | 613.9 |  |  |  | 189.2 |  |  |  | 49.4 |  |  |  | 852.5 |
Cost of revenues from clean coal activities |  |  | — |  |  |  | — |  |  |  | 1,635.9 |  |  |  | 1,635.9 |
Interest |  |  | — |  |  |  | — |  |  |  | 124.1 |  |  |  | 124.1 |
Depreciation |  |  | 61.8 |  |  |  | 31.1 |  |  |  | 28.2 |  |  |  | 121.1 |
Amortization |  |  | 261.8 |  |  |  | 2.9 |  |  |  | — |  |  |  | 264.7 |
Change in estimated acquisition earnout payables |  |  | 29.3 |  |  |  | 1.6 |  |  |  | — |  |  |  | 30.9 |
Total expenses |  |  | 3,184.0 |  |  |  | 671.7 |  |  |  | 1,925.8 |  |  |  | 5,781.5 |
Earnings (loss) before income taxes |  |  | 646.5 |  |  |  | 96.9 |  |  |  | (365.3 | ) |  |  | 378.1 |
Provision (benefit) for income taxes |  |  | 222.5 |  |  |  | 37.0 |  |  |  | (380.6 | ) |  |  | (121.1 | )
Net earnings |  |  | 424.0 |  |  |  | 59.9 |  |  |  | 15.3 |  |  |  | 499.2 |
Net earnings attributable to noncontrolling interests |  |  | 8.1 |  |  |  | — |  |  |  | 28.0 |  |  |  | 36.1 |
Net earnings attributable to controlling interests |  | $ | 415.9 |  |  | $ | 59.9 |  |  | $ | (12.7 | ) |  | $ | 463.1 |
Net foreign exchange loss |  | $ | (1.6 | ) |  | $ | (0.1 | ) |  | $ | (1.1 | ) |  | $ | (2.8 | )
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,537.4 |  |  | $ | 639.5 |  |  | $ | 1,525.7 |  |  | $ | 4,702.6 |
United Kingdom |  |  | 686.7 |  |  |  | 30.9 |  |  |  | — |  |  |  | 717.6 |
Australia |  |  | 192.7 |  |  |  | 78.2 |  |  |  | — |  |  |  | 270.9 |
Canada |  |  | 150.7 |  |  |  | 4.7 |  |  |  | — |  |  |  | 155.4 |
New Zealand |  |  | 135.2 |  |  |  | 15.3 |  |  |  | — |  |  |  | 150.5 |
Other foreign |  |  | 127.8 |  |  |  | — |  |  |  | 34.8 |  |  |  | 162.6 |
Total revenues |  | $ | 3,830.5 |  |  | $ | 768.6 |  |  | $ | 1,560.5 |  |  | $ | 6,159.6 |
At December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 4,799.6 |  |  | $ | 569.5 |  |  | $ | 1,799.4 |  |  | $ | 7,168.5 |
United Kingdom |  |  | 2,620.9 |  |  |  | 91.3 |  |  |  | — |  |  |  | 2,712.2 |
Australia |  |  | 1,061.7 |  |  |  | 48.9 |  |  |  | — |  |  |  | 1,110.6 |
Canada |  |  | 726.6 |  |  |  | 6.8 |  |  |  | — |  |  |  | 733.4 |
New Zealand |  |  | 707.6 |  |  |  | 18.7 |  |  |  | — |  |  |  | 726.3 |
Other foreign |  |  | 420.0 |  |  |  | — |  |  |  | 26.4 |  |  |  | 446.4 |
Total identifiable assets |  | $ | 10,336.4 |  |  | $ | 735.2 |  |  | $ | 1,825.8 |  |  | $ | 12,897.4 |
Goodwill - net |  | $ | 4,152.3 |  |  | $ | 42.6 |  |  | $ | 3.0 |  |  | $ | 4,197.9 |
Amortizable intangible assets - net |  |  | 1,630.6 |  |  |  | 14.0 |  |  |  | — |  |  |  | 1,644.6 |
Year Ended December 31, 2016 |  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 2,439.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,439.1 |
Fees |  |  | 775.7 |  |  |  | 717.1 |  |  |  | — |  |  |  | 1,492.8 |
Supplemental revenues |  |  | 147.0 |  |  |  | — |  |  |  | — |  |  |  | 147.0 |
Contingent revenues |  |  | 107.2 |  |  |  | — |  |  |  | — |  |  |  | 107.2 |
Investment income |  |  | 52.3 |  |  |  | 1.0 |  |  |  | — |  |  |  | 53.3 |
Gains on books of business sales and other |  |  | 6.6 |  |  |  | — |  |  |  | — |  |  |  | 6.6 |
Revenue from clean coal activities |  |  | — |  |  |  | — |  |  |  | 1,350.1 |  |  |  | 1,350.1 |
Other - net gain |  |  | — |  |  |  | — |  |  |  | (1.3 | ) |  |  | (1.3 | )
Total revenues |  |  | 3,527.9 |  |  |  | 718.1 |  |  |  | 1,348.8 |  |  |  | 5,594.8 |
Compensation |  |  | 2,041.8 |  |  |  | 424.5 |  |  |  | 72.6 |  |  |  | 2,538.9 |
Operating |  |  | 600.9 |  |  |  | 171.4 |  |  |  | 25.4 |  |  |  | 797.7 |
Cost of revenues from clean coal activities |  |  | — |  |  |  | — |  |  |  | 1,408.6 |  |  |  | 1,408.6 |
Interest |  |  | — |  |  |  | — |  |  |  | 109.8 |  |  |  | 109.8 |
Depreciation |  |  | 57.2 |  |  |  | 27.2 |  |  |  | 19.2 |  |  |  | 103.6 |
Amortization |  |  | 244.7 |  |  |  | 2.5 |  |  |  | — |  |  |  | 247.2 |
Change in estimated acquisition earnout payables |  |  | 32.1 |  |  |  | — |  |  |  | — |  |  |  | 32.1 |
Total expenses |  |  | 2,976.7 |  |  |  | 625.6 |  |  |  | 1,635.6 |  |  |  | 5,237.9 |
Earnings (loss) before income taxes |  |  | 551.2 |  |  |  | 92.5 |  |  |  | (286.8 | ) |  |  | 356.9 |
Provision (benefit) for income taxes |  |  | 194.1 |  |  |  | 35.3 |  |  |  | (317.5 | ) |  |  | (88.1 | )
Net earnings |  |  | 357.1 |  |  |  | 57.2 |  |  |  | 30.7 |  |  |  | 445.0 |
Net earnings attributable to noncontrolling interests |  |  | 3.6 |  |  |  | — |  |  |  | 27.0 |  |  |  | 30.6 |
Net earnings attributable to controlling interests |  | $ | 353.5 |  |  | $ | 57.2 |  |  | $ | 3.7 |  |  | $ | 414.4 |
Net foreign exchange gain |  | $ | 2.9 |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 3.0 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,334.4 |  |  | $ | 610.3 |  |  | $ | 1,327.9 |  |  | $ | 4,272.6 |
United Kingdom |  |  | 686.5 |  |  |  | 25.6 |  |  |  | — |  |  |  | 712.1 |
Australia |  |  | 172.5 |  |  |  | 73.0 |  |  |  | — |  |  |  | 245.5 |
Canada |  |  | 134.1 |  |  |  | 4.1 |  |  |  | — |  |  |  | 138.2 |
New Zealand |  |  | 120.7 |  |  |  | 5.1 |  |  |  | — |  |  |  | 125.8 |
Other foreign |  |  | 79.7 |  |  |  | — |  |  |  | 20.9 |  |  |  | 100.6 |
Total revenues |  | $ | 3,527.9 |  |  | $ | 718.1 |  |  | $ | 1,348.8 |  |  | $ | 5,594.8 |
At December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 4,393.6 |  |  | $ | 540.5 |  |  | $ | 1,622.2 |  |  | $ | 6,556.3 |
United Kingdom |  |  | 2,321.9 |  |  |  | 61.8 |  |  |  | — |  |  |  | 2,383.7 |
Australia |  |  | 894.4 |  |  |  | 56.9 |  |  |  | — |  |  |  | 951.3 |
Canada |  |  | 573.3 |  |  |  | 2.8 |  |  |  | — |  |  |  | 576.1 |
New Zealand |  |  | 668.9 |  |  |  | 4.4 |  |  |  | — |  |  |  | 673.3 |
Other foreign |  |  | 331.3 |  |  |  | — |  |  |  | 17.6 |  |  |  | 348.9 |
Total identifiable assets |  | $ | 9,183.4 |  |  | $ | 666.4 |  |  | $ | 1,639.8 |  |  | $ | 11,489.6 |
Goodwill - net |  | $ | 3,736.9 |  |  | $ | 28.1 |  |  | $ | 2.8 |  |  | $ | 3,767.8 |
Amortizable intangible assets - net |  |  | 1,613.6 |  |  |  | 13.7 |  |  |  | — |  |  |  | 1,627.3 |
Year Ended December 31, 2015 |  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 2,338.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,338.7 |
Fees |  |  | 705.8 |  |  |  | 726.5 |  |  |  | — |  |  |  | 1,432.3 |
Supplemental revenues |  |  | 125.5 |  |  |  | — |  |  |  | — |  |  |  | 125.5 |
Contingent revenues |  |  | 93.7 |  |  |  | — |  |  |  | — |  |  |  | 93.7 |
Investment income |  |  | 53.6 |  |  |  | 0.6 |  |  |  | — |  |  |  | 54.2 |
Gains on books of business sales and other |  |  | 6.7 |  |  |  | — |  |  |  | — |  |  |  | 6.7 |
Revenue from clean coal activities |  |  | — |  |  |  | — |  |  |  | 1,310.8 |  |  |  | 1,310.8 |
Other - net gain |  |  | — |  |  |  | — |  |  |  | 30.5 |  |  |  | 30.5 |
Total revenues |  |  | 3,324.0 |  |  |  | 727.1 |  |  |  | 1,341.3 |  |  |  | 5,392.4 |
Compensation |  |  | 1,939.7 |  |  |  | 427.2 |  |  |  | 62.0 |  |  |  | 2,428.9 |
Operating |  |  | 638.1 |  |  |  | 180.8 |  |  |  | 21.8 |  |  |  | 840.7 |
Cost of revenues from clean coal activities |  |  | — |  |  |  | — |  |  |  | 1,351.5 |  |  |  | 1,351.5 |
Interest |  |  | — |  |  |  | — |  |  |  | 103.0 |  |  |  | 103.0 |
Depreciation |  |  | 54.4 |  |  |  | 24.3 |  |  |  | 15.2 |  |  |  | 93.9 |
Amortization |  |  | 237.3 |  |  |  | 3.0 |  |  |  | — |  |  |  | 240.3 |
Change in estimated acquisition earnout payables |  |  | 41.1 |  |  |  | (0.5 | ) |  |  | — |  |  |  | 40.6 |
Total expenses |  |  | 2,910.6 |  |  |  | 634.8 |  |  |  | 1,553.5 |  |  |  | 5,098.9 |
Earnings (loss) before income taxes |  |  | 413.4 |  |  |  | 92.3 |  |  |  | (212.2 | ) |  |  | 293.5 |
Provision (benefit) for income taxes |  |  | 145.3 |  |  |  | 35.1 |  |  |  | (276.0 | ) |  |  | (95.6 | )
Net earnings |  |  | 268.1 |  |  |  | 57.2 |  |  |  | 63.8 |  |  |  | 389.1 |
Net earnings attributable to noncontrolling interests |  |  | 1.7 |  |  |  | — |  |  |  | 30.6 |  |  |  | 32.3 |
Net earnings attributable to controlling interests |  | $ | 266.4 |  |  | $ | 57.2 |  |  | $ | 33.2 |  |  | $ | 356.8 |
Net foreign exchange gain (loss) |  | $ | (0.2 | ) |  | $ | — |  |  | $ | 0.4 |  |  | $ | 0.2 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,122.1 |  |  | $ | 591.8 |  |  | $ | 1,327.5 |  |  | $ | 4,041.4 |
United Kingdom |  |  | 738.5 |  |  |  | 28.4 |  |  |  | — |  |  |  | 766.9 |
Australia |  |  | 157.3 |  |  |  | 99.4 |  |  |  | — |  |  |  | 256.7 |
Canada |  |  | 133.1 |  |  |  | 3.5 |  |  |  | — |  |  |  | 136.6 |
New Zealand |  |  | 118.6 |  |  |  | 4.0 |  |  |  | — |  |  |  | 122.6 |
Other foreign |  |  | 54.4 |  |  |  | — |  |  |  | 13.8 |  |  |  | 68.2 |
Total revenues |  | $ | 3,324.0 |  |  | $ | 727.1 |  |  | $ | 1,341.3 |  |  | $ | 5,392.4 |
At December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 4,092.8 |  |  | $ | 525.2 |  |  | $ | 1,264.9 |  |  | $ | 5,882.9 |
United Kingdom |  |  | 2,580.0 |  |  |  | 72.1 |  |  |  | — |  |  |  | 2,652.1 |
Australia |  |  | 895.8 |  |  |  | 55.6 |  |  |  | — |  |  |  | 951.4 |
Canada |  |  | 575.0 |  |  |  | 3.1 |  |  |  | — |  |  |  | 578.1 |
New Zealand |  |  | 623.1 |  |  |  | 4.1 |  |  |  | — |  |  |  | 627.2 |
Other foreign |  |  | 203.0 |  |  |  | — |  |  |  | 19.1 |  |  |  | 222.1 |
Total identifiable assets |  | $ | 8,969.7 |  |  | $ | 660.1 |  |  | $ | 1,284.0 |  |  | $ | 10,913.8 |
Goodwill - net |  | $ | 3,635.6 |  |  | $ | 27.3 |  |  | $ | — |  |  | $ | 3,662.9 |
Amortizable intangible assets - net |  |  | 1,677.8 |  |  |  | 21.0 |  |  |  | — |  |  |  | 1,698.8 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration