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