16.

Segment Information

We have three reportable segments: brokerage, risk management and corporate.

The brokerage segment is primarily comprised of our retail and wholesale insurance brokerage operations. The 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.

The risk management segment provides contract claim settlement and administration services for enterprises and public entities 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.

The corporate segment manages our clean energy and other investments. In addition, the corporate segment reports the financial information related to our debt and other corporate costs, and external acquisition-related expenses.

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 country statutory rates. Reported operating results by segment would change if different methods were applied.

Financial information relating to our segments for the three-month and nine-month periods ended September 30, 2018 and 2017 is as follows (in millions):


	Three-month period						Nine-month period
	ended September 30,						ended September 30,
				2017						2017
	2018			As Restated for Adoption of Topic 606			2018			As Restated for Adoption of Topic 606
Brokerage
Total revenues	$	1,049.4		$	938.7		$	3,245.1		$	2,919.7

Earnings before income taxes	$	163.2		$	141.2		$	652.7		$	542.8

Identifiable assets at September 30, 2018 and 2017							$	13,700.7		$	13,019.7

Risk Management
Total revenues	$	236.4		$	224.4		$	703.6		$	651.1

Earnings before income taxes	$	22.3		$	26.5		$	67.9		$	69.2

Identifiable assets at September 30, 2018 and 2017							$	748.3		$	738.0

Corporate
Total revenues	$	492.7		$	430.6		$	1,327.9		$	1,158.8

Loss before income taxes	$	(95.2	)	$	(90.8	)	$	(284.4	)	$	(281.4	)

Identifiable assets at September 30, 2018 and 2017							$	1,665.7		$	1,746.7

Disaggregation of Revenue

We disaggregate our revenue from contracts with clients by type and geographic location for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

Revenues by type and segment for the three-month period ended September 30, 2018 are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
Commissions	$	707.6	$	—	$	—	$	707.6
Fees		253.7		199.0		—		452.7
Supplemental revenues		43.9		—		—		43.9
Contingent revenues		25.7		—		—		25.7
Investment income		17.9		0.1		—		18.0
Gains on books of business sales		0.6		—		—		0.6
Revenues from clean coal activities		—		—		492.4		492.4
Other net revenues		—		—		0.3		0.3

Revenues before reimbursements		1,049.4		199.1		492.7		1,741.2
Reimbursements		—		37.3		—		37.3

Total revenues	$	1,049.4	$	236.4	$	492.7	$	1,778.5

Revenues by type and segment for the nine-month period ended September 30, 2018 are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
Commissions	$	2,235.0	$	—	$	—	$	2,235.0
Fees		727.3		595.7		—		1,323.0
Supplemental revenues		144.0		—		—		144.0
Contingent revenues		82.4		—		—		82.4
Investment income		46.8		0.4		—		47.2
Gains on books of business sales		9.6		—		—		9.6
Revenues from clean coal activities		—		—		1,327.0		1,327.0
Other net revenues		—		—		0.9		0.9

Revenues before reimbursements		3,245.1		596.1		1,327.9		5,169.1
Reimbursements		—		107.5		—		107.5

Total revenues	$	3,245.1	$	703.6	$	1,327.9	$	5,276.6

Revenues by geographical location and segment for the three-month period ended September 30, 2018 are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
United States	$	724.2	$	201.5	$	492.7	$	1,418.4
United Kingdom		169.3		8.7		—		178.0
Australia		49.1		21.1		—		70.2
Canada		40.3		0.9		—		41.2
New Zealand		35.0		4.2		—		39.2
Other foreign		31.5		—		—		31.5

Total revenues	$	1,049.4	$	236.4	$	492.7	$	1,778.5

Revenues by geographical location and segment for the nine-month period ended September 30, 2018 are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
United States	$	2,192.5	$	591.6	$	1,327.9	$	4,112.0
United Kingdom		564.6		26.5		—		591.1
Australia		146.6		70.5		—		217.1
Canada		130.9		3.0		—		133.9
New Zealand		104.5		12.0		—		116.5
Other foreign		106.0		—		—		106.0

Total revenues	$	3,245.1	$	703.6	$	1,327.9	$	5,276.6

Revenues by type and segment for the three-month period ended September 30, 2017, as restated for the adoption of Topic 606, are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
Commissions	$	637.9	$	—	$	—	$	637.9
Fees		225.7		190.5		—		416.2
Supplemental revenues		36.9		—		—		36.9
Contingent revenues		21.8		—		—		21.8
Investment income		15.8		0.1		—		15.9
Gains on books of business sales		0.6		—		—		0.6
Revenues from clean coal activities		—		—		430.6		430.6

Revenues before reimbursements		938.7		190.6		430.6		1,559.9
Reimbursements		—		33.8		—		33.8

Total revenues	$	938.7	$	224.4	$	430.6	$	1,593.7

Revenues by type and segment for the nine-month period ended September 30, 2017, as restated for the adoption of Topic 606, are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
Commissions	$	2,016.8	$	—	$	—	$	2,016.8
Fees		659.5		548.6		—		1,208.1
Supplemental revenues		120.0		—		—		120.0
Contingent revenues		78.1		—		—		78.1
Investment income		42.2		0.4		—		42.6
Gains on books of business sales		3.1		—		—		3.1
Revenues from clean coal activities		—		—		1,158.8		1,158.8

Revenues before reimbursements		2,919.7		549.0		1,158.8		4,627.5
Reimbursements		—		102.1		—		102.1

Total revenues	$	2,919.7	$	651.1	$	1,158.8	$	4,729.6

Revenues by geographical location and segment for the three-month period ended September 30, 2017, as restated for the adoption of Topic 606, are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
United States	$	620.4	$	190.5	$	430.6	$	1,241.5
United Kingdom		168.8		8.4		—		177.2
Australia		50.5		19.1		—		69.6
Canada		35.4		1.4		—		36.8
New Zealand		36.0		5.0		—		41.0
Other foreign		27.6		—		—		27.6

Total revenues	$	938.7	$	224.4	$	430.6	$	1,593.7

Revenues by geographical location and segment for the nine-month period ended September 30, 2017, as restated for the adoption of Topic 606, are as follows (in millions):


	Brokerage		Risk Management		Corporate		Total
Revenues:
United States	$	1,965.5	$	558.2	$	1,158.8	$	3,682.5
United Kingdom		514.8		22.0		—		536.8
Australia		142.8		56.9		—		199.7
Canada		104.1		3.1		—		107.2
New Zealand		99.9		10.9		—		110.8
Other foreign		92.6		—		—		92.6

Total revenues	$	2,919.7	$	651.1	$	1,158.8	$	4,729.6