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Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Financial information relating to our segments for 2022, 2021 and 2020 is as follows (in millions):


Year Ended December 31, 2022		Brokerage				Risk Management				Corporate				Total
Revenues:
Commissions		$	5,187.4			$	—			$	—			$	5,187.4
Fees			1,476.9				1,090.8				—				2,567.7
Supplemental revenues			284.7				—				—				284.7
Contingent revenues			207.3				—				—				207.3
Investment income			135.4				0.9				—				136.3
Net gains on divestitures			12.1				0.9				—				13.0
Revenue from clean coal activities			—				—				23.0				23.0
Other net income			—				—				0.7				0.7
Revenues before reimbursements			7,303.8				1,092.6				23.7				8,420.1
Reimbursements			—				130.5				—				130.5
Total revenues			7,303.8				1,223.1				23.7				8,550.6
Compensation			4,024.7				664.9				110.2				4,799.8
Operating			1,039.9				233.9				57.1				1,330.9
Reimbursements			—				130.5				—				130.5
Cost of revenues from clean coal activities			—				—				22.9				22.9
Interest			—				—				256.9				256.9
Depreciation			103.6				37.8				3.3				144.7
Amortization			448.7				6.2				—				454.9
Change in estimated acquisition earnout payables			90.4				(7.4	)			—				83.0
Total expenses			5,707.3				1,065.9				450.4				7,223.6
Earnings (loss) before income taxes			1,596.5				157.2				(426.7	)			1,327.0
Provision (benefit) for income taxes			394.7				41.4				(225.1	)			211.0
Net earnings (loss)			1,201.8				115.8				(201.6	)			1,116.0
Net earnings (loss) attributable to noncontrolling interests			4.4				—				(2.6	)			1.8
Net earnings (loss) attributable to controlling interests		$	1,197.4			$	115.8			$	(199.0	)		$	1,114.2
Net foreign exchange gain		$	2.6			$	31.4			$	—			$	34.0
Revenues:
United States		$	4,503.9			$	1,029.6			$	23.7			$	5,557.2
United Kingdom			1,544.3				44.1				—				1,588.4
Australia			281.8				129.1				—				410.9
Canada			356.0				5.9				—				361.9
New Zealand			166.9				14.4				—				181.3
Other foreign			450.9				—				—				450.9
Total revenues		$	7,303.8			$	1,223.1			$	23.7			$	8,550.6
At December 31, 2022
Identifiable assets:
United States		$	17,827.2			$	914.4			$	2,560.2			$	21,301.8
United Kingdom			9,486.6				115.9				—				9,602.5
Australia			1,797.9				89.0				—				1,886.9
Canada			1,476.4				4.4				—				1,480.8
New Zealand			731.0				18.8				—				749.8
Other foreign			3,886.0				—				—				3,886.0
Total identifiable assets		$	35,205.1			$	1,142.5			$	2,560.2			$	38,907.8
Goodwill - net		$	9,358.1			$	112.2			$	19.1			$	9,489.4
Amortizable intangible assets - net			3,325.9				46.2				—				3,372.1


Year Ended December 31, 2021		Brokerage				Risk Management				Corporate				Total
Revenues:
Commissions		$	4,132.3			$	—			$	—			$	4,132.3
Fees			1,296.9				967.2				—				2,264.1
Supplemental revenues			248.7				—				—				248.7
Contingent revenues			188.0				—				—				188.0
Investment income			82.8				0.3				—				83.1
Net gains on divestitures			18.8				0.1				—				18.9
Revenue from clean coal activities			—				—				1,140.8				1,140.8
Other net revenues			—				—				0.5				0.5
Revenues before reimbursements			5,967.5				967.6				1,141.3				8,076.4
Reimbursements			—				133.0				—				133.0
Total revenues			5,967.5				1,100.6				1,141.3				8,209.4
Compensation			3,252.4				580.7				94.4				3,927.5
Operating			757.9				209.8				104.7				1,072.4
Reimbursements			—				133.0				—				133.0
Cost of revenues from clean coal activities			—				—				1,173.2				1,173.2
Interest			—				—				226.1				226.1
Loss on extinguishment of debt			—				—				16.2				16.2
Depreciation			87.8				46.2				17.2				151.2
Amortization			407.6				7.5				—				415.1
Change in estimated acquisition earnout payables			116.3				3.3				—				119.6
Total expenses			4,622.0				980.5				1,631.8				7,234.3
Earnings (loss) before income taxes			1,345.5				120.1				(490.5	)			975.1
Provision (benefit) for income taxes			328.9				30.6				(339.4	)			20.1
Net earnings (loss)			1,016.6				89.5				(151.1	)			955.0
Net earnings attributable to noncontrolling interests			8.4				—				39.8				48.2
Net earnings (loss) attributable to controlling interests		$	1,008.2			$	89.5			$	(190.9	)		$	906.8
Net foreign exchange loss		$	(1.7	)		$	—			$	(0.6	)		$	(2.3	)
Revenues:
United States		$	3,804.8			$	910.7			$	1,141.3			$	5,856.8
United Kingdom			1,199.0				46.0				—				1,245.0
Australia			252.6				123.5				—				376.1
Canada			302.2				5.8				—				308.0
New Zealand			162.4				14.6				—				177.0
Other foreign			246.5				—				—				246.5
Total revenues		$	5,967.5			$	1,100.6			$	1,141.3			$	8,209.4
At December 31, 2021
Identifiable assets:
United States		$	15,548.3			$	790.7			$	2,489.6			$	18,828.6
United Kingdom			8,251.3				134.1				—				8,385.4
Australia			1,684.2				84.7				—				1,768.9
Canada			1,436.1				4.4				—				1,440.5
New Zealand			754.5				20.5				—				775.0
Other foreign			2,146.6				—				—				2,146.6
Total identifiable assets		$	29,821.0			$	1,034.4			$	2,489.6			$	33,345.0
Goodwill - net		$	8,544.6			$	100.9			$	20.7			$	8,666.2
Amortizable intangible assets - net			3,906.1				47.9				—				3,954.0


Year Ended December 31, 2020		Brokerage				Risk Management				Corporate				Total
Revenues:
Commissions		$	3,591.9			$	—			$	—			$	3,591.9
Fees			1,136.9				821.0				—				1,957.9
Supplemental revenues			221.9				—				—				221.9
Contingent revenues			147.0				—				—				147.0
Investment income			75.2				0.7				—				75.9
Net losses on divestitures			(5.8	)			—				—				(5.8	)
Revenue from clean coal activities			—				—				863.5				863.5
Other net losses			—				—				(0.4	)			(0.4	)
Revenues before reimbursements			5,167.1				821.7				863.1				6,851.9
Reimbursements			—				151.7				—				151.7
Total revenues			5,167.1				973.4				863.1				7,003.6
Compensation			2,882.5				517.5				66.5				3,466.5
Operating			687.2				162.6				56.7				906.5
Reimbursements			—				151.7				—				151.7
Cost of revenues from clean coal activities			—				—				882.1				882.1
Interest			—				—				196.4				196.4
Depreciation			73.5				49.4				22.2				145.1
Amortization			411.3				6.0				—				417.3
Change in estimated acquisition earnout payables			(29.7	)			(3.2	)			—				(32.9	)
Total expenses			4,024.8				884.0				1,223.9				6,132.7
Earnings (loss) before income taxes			1,142.3				89.4				(360.8	)			870.9
Provision (benefit) for income taxes			276.3				22.5				(286.0	)			12.8
Net earnings (loss)			866.0				66.9				(74.8	)			858.1
Net earnings attributable to noncontrolling interests			4.9				—				34.4				39.3
Net earnings (loss) attributable to controlling interests		$	861.1			$	66.9			$	(109.2	)		$	818.8
Net foreign exchange loss		$	(2.6	)		$	(0.1	)		$	(0.2	)		$	(2.9	)
Revenues:
United States		$	3,369.4			$	816.4			$	863.1			$	5,048.9
United Kingdom			993.7				40.7				—				1,034.4
Australia			216.1				98.4				—				314.5
Canada			243.8				5.3				—				249.1
New Zealand			141.8				12.6				—				154.4
Other foreign			202.3				—				—				202.3
Total revenues		$	5,167.1			$	973.4			$	863.1			$	7,003.6
At December 31, 2020
Identifiable assets:
United States		$	8,897.9			$	716.2			$	2,172.2			$	11,786.3
United Kingdom			6,135.1				139.2				—				6,274.3
Australia			1,373.3				89.6				—				1,462.9
Canada			1,053.6				4.8				—				1,058.4
New Zealand			766.0				24.1				—				790.1
Other foreign			959.4				—				—				959.4
Total identifiable assets		$	19,185.3			$	973.9			$	2,172.2			$	22,331.4
Goodwill - net		$	6,053.6			$	70.5			$	2.9			$	6,127.0
Amortizable intangible assets - net			2,376.3				23.6				—				2,399.9