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v3.23.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information by Segment | Financial information relating to our segments for the three-month periods ended March 31, 2023 and 2022 as follows (in millions):
| Three-month period ended March 31, |
| 2023 |  |  | 2022 |
Brokerage |  |  |  |  |
Total revenues | $ | 2,375.2 |  |  | $ | 2,122.6 |
Earnings before income taxes | $ | 690.9 |  |  | $ | 618.4 |
Identifiable assets at March 31, 2023 and 2022 * | $ | 40,919.9 |  |  | $ | 39,237.3 |
Risk Management |  |  |  |  |
Total revenues | $ | 330.8 |  |  | $ | 289.9 |
Earnings before income taxes | $ | 45.5 |  |  | $ | 32.3 |
Identifiable assets at March 31, 2023 and 2022 * | $ | 1,126.7 |  |  | $ | 1,047.2 |
Corporate |  |  |  |  |
Total revenues | $ | 0.1 |  |  | $ | 22.8 |
Loss before income taxes | $ | (130.6 | ) |  | $ | (113.0 | )
Identifiable assets at March 31, 2023 and 2022 * | $ | 3,047.8 |  |  | $ | 2,613.0 |
Total |  |  |  |  |
Total revenues | $ | 2,706.1 |  |  | $ | 2,435.3 |
Earnings before income taxes | $ | 605.8 |  |  | $ | 537.7 |
Identifiable assets at March 31, 2023 and 2022 * | $ | 45,094.4 |  |  | $ | 42,897.5 |
* See Note 1 for a discussion on the 2022 impact of the change in presentation of fiduciary assets and liabilities.
Summary of Revenues by Type and Segment | Revenues by type and segment for the three-month period ended March 31, 2023 are as follows (in millions):
|  |  |  |  | Risk |  |  |  |  |  |  |
|  | Brokerage |  |  | Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 1,747.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,747.4 |
Fees |  |  | 412.7 |  |  |  | 293.0 |  |  |  | — |  |  |  | 705.7 |
Supplemental revenues |  |  | 81.6 |  |  |  | — |  |  |  | — |  |  |  | 81.6 |
Contingent revenues |  |  | 71.8 |  |  |  | — |  |  |  | — |  |  |  | 71.8 |
Investment income |  |  | 61.5 |  |  |  | 4.5 |  |  |  | — |  |  |  | 66.0 |
Net gains on divestitures |  |  | 0.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.3 |
Other net revenues |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |
Revenues before reimbursements |  |  | 2,375.2 |  |  |  | 297.6 |  |  |  | 0.1 |  |  |  | 2,672.9 |
Reimbursements |  |  | — |  |  |  | 33.2 |  |  |  | — |  |  |  | 33.2 |
Total revenues |  | $ | 2,375.2 |  |  | $ | 330.8 |  |  | $ | 0.1 |  |  | $ | 2,706.1 |
Revenues by type and segment for the three-month period ended March 31, 2022 are as follows (in millions):
|  |  |  |  | Risk |  |  |  |  |  |  |
|  | Brokerage |  |  | Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | 1,565.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,565.3 |
Fees |  |  | 391.9 |  |  |  | 259.0 |  |  |  | — |  |  |  | 650.9 |
Supplemental revenues |  |  | 74.3 |  |  |  | — |  |  |  | — |  |  |  | 74.3 |
Contingent revenues |  |  | 71.6 |  |  |  | — |  |  |  | — |  |  |  | 71.6 |
Investment income |  |  | 18.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | 18.2 |
Net gains on divestitures |  |  | 1.4 |  |  |  | — |  |  |  | — |  |  |  | 1.4 |
Revenues from clean coal activities |  |  | — |  |  |  | — |  |  |  | 22.7 |  |  |  | 22.7 |
Other net revenues |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |
Revenues before reimbursements |  |  | 2,122.6 |  |  |  | 259.1 |  |  |  | 22.8 |  |  |  | 2,404.5 |
Reimbursements |  |  | — |  |  |  | 30.8 |  |  |  | — |  |  |  | 30.8 |
Total revenues |  | $ | 2,122.6 |  |  | $ | 289.9 |  |  | $ | 22.8 |  |  | $ | 2,435.3 |
Summary of Geographical Location and Segment | Revenues by geographical location and segment for the three-month period ended March 31, 2023 are as follows (in millions):
|  |  |  |  | Risk |  |  |  |  |  |  |
|  | Brokerage |  |  | Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,475.3 |  |  | $ | 280.1 |  |  | $ | 0.1 |  |  | $ | 1,755.5 |
United Kingdom |  |  | 513.5 |  |  |  | 11.3 |  |  |  | — |  |  |  | 524.8 |
Australia |  |  | 64.2 |  |  |  | 34.0 |  |  |  | — |  |  |  | 98.2 |
Canada |  |  | 93.7 |  |  |  | 1.5 |  |  |  | — |  |  |  | 95.2 |
New Zealand |  |  | 38.0 |  |  |  | 3.9 |  |  |  | — |  |  |  | 41.9 |
Other foreign |  |  | 190.5 |  |  |  | — |  |  |  | — |  |  |  | 190.5 |
Total revenues |  | $ | 2,375.2 |  |  | $ | 330.8 |  |  | $ | 0.1 |  |  | $ | 2,706.1 |
Revenues by geographical location and segment for the three-month period ended March 31, 2022 are as follows (in millions):
|  |  |  |  | Risk |  |  |  |  |  |  |
|  | Brokerage |  |  | Management |  |  | Corporate |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,336.7 |  |  | $ | 242.3 |  |  | $ | 22.8 |  |  | $ | 1,601.8 |
United Kingdom |  |  | 440.2 |  |  |  | 11.0 |  |  |  | — |  |  |  | 451.2 |
Australia |  |  | 59.0 |  |  |  | 31.7 |  |  |  | — |  |  |  | 90.7 |
Canada |  |  | 87.5 |  |  |  | 1.4 |  |  |  | — |  |  |  | 88.9 |
New Zealand |  |  | 34.4 |  |  |  | 3.5 |  |  |  | — |  |  |  | 37.9 |
Other foreign |  |  | 164.8 |  |  |  | — |  |  |  | — |  |  |  | 164.8 |
Total revenues |  | $ | 2,122.6 |  |  | $ | 289.9 |  |  | $ | 22.8 |  |  | $ | 2,435.3 |

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