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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Financial information relating to our segments for the three-month periods ended March 31, 2025 and 2024 as follows

(in millions):

Three-Month Period Ended March 31, 2025		Brokerage				Risk Management				Corporate				Total
Revenues:
Commissions		$	2,249.2			$	—			$	—			$	2,249.2
Fees			620.2				364.6				—				984.8
Supplemental revenues			113.9				—				—				113.9
Contingent revenues			92.9				—				—				92.9
Interest income, premium finance revenues and other income			238.4				8.8				0.4				247.6
Revenues before reimbursements			3,314.6				373.4				0.4				3,688.4
Reimbursements			—				39.0				—				39.0
Total revenues			3,314.6				412.4				0.4				3,727.4
Compensation			1,617.2				231.1				49.4				1,897.7
Operating			346.4				70.8				73.2				490.4
Reimbursements			—				39.0				—				39.0
Interest			—				—				158.4				158.4
Depreciation			32.9				9.5				1.7				44.1
Amortization			203.6				5.7				—				209.3
Change in estimated acquisition earnout payables			15.4				0.4				—				15.8
Total expenses			2,215.5				356.5				282.7				2,854.7
Earnings (loss) before income taxes			1,099.1				55.9				(282.3	)			872.7
Provision (benefit) for income taxes			283.0				14.8				(134.0	)			163.8
Net earnings (loss)			816.1				41.1				(148.3	)			708.9
Net earnings (loss) attributable to noncontrolling interests			4.5				—				—				4.5
Net earnings (loss) attributable to controlling interests		$	811.6			$	41.1			$	(148.3	)		$	704.4
Net foreign exchange gain		$	0.6			$	—			$	23.9			$	24.5
Revenues:
United States		$	2,131.2			$	331.8			$	0.4			$	2,463.4
United Kingdom			675.5				21.3				—				696.8
Australia			68.6				56.2				—				124.8
Canada			99.0				1.8				—				100.8
New Zealand			39.8				0.1				—				39.9
Other foreign			300.5				1.2				—				301.7
Total revenues		$	3,314.6			$	412.4			$	0.4			$	3,727.4
At March 31, 2025
Identifiable assets:
United States		$	22,461.1			$	1,129.9			$	17,551.0			$	41,142.0
United Kingdom			20,826.5				427.4				9.9				21,263.8
Australia			1,582.6				379.6				—				1,962.2
Canada			1,684.9				4.5				—				1,689.4
New Zealand			658.9				13.5				—				672.4
Other foreign			7,213.8				27.5				124.6				7,365.9
Total identifiable assets		$	54,427.8			$	1,982.4			$	17,685.5			$	74,095.7
Goodwill - net		$	12,277.0			$	419.2			$	18.5			$	12,714.7
Amortizable intangible assets - net			4,335.4				196.8				—				4,532.2

Three-Month Period Ended March 31, 2024		Brokerage				Risk Management				Corporate				Total
Revenues:
Commissions		$	1,993.6			$	—			$	—			$	1,993.6
Fees			606.7				344.5				—				951.2
Supplemental revenues			93.9				—				—				93.9
Contingent revenues			86.0				—				—				86.0
Interest income, premium finance revenues and other income			84.7				8.3				0.4				93.4
Revenues before reimbursements			2,864.9				352.8				0.4				3,218.1
Reimbursements			—				38.6				—				38.6
Total revenues			2,864.9				391.4				0.4				3,256.7
Compensation			1,476.8				213.9				35.2				1,725.9
Operating			339.4				68.4				27.9				435.7
Reimbursements			—				38.6				—				38.6
Interest			—				—				92.2				92.2
Depreciation			32.8				10.9				1.7				45.4
Amortization			156.0				6.3				—				162.3
Change in estimated acquisition earnout payables			(16.2	)			0.1				—				(16.1	)
Total expenses			1,988.8				338.2				157.0				2,484.0
Earnings (loss) before income taxes			876.1				53.2				(156.6	)			772.7
Provision (benefit) for income taxes			223.5				13.9				(77.4	)			160.0
Net earnings (loss)			652.6				39.3				(79.2	)			612.7
Net earnings (loss) attributable to noncontrolling interests			4.3				—				—				4.3
Net earnings (loss) attributable to controlling interests		$	648.3			$	39.3			$	(79.2	)		$	608.4
Net foreign exchange loss		$	(0.7	)		$	—			$	(0.4	)		$	(1.1	)
Revenues:
United States		$	1,814.0			$	320.5			$	0.4			$	2,134.9
United Kingdom			584.8				14.0				—				598.8
Australia			68.0				53.0				—				121.0
Canada			103.1				1.7				—				104.8
New Zealand			41.7				2.2				—				43.9
Other foreign			253.3				—				—				253.3
Total revenues		$	2,864.9			$	391.4			$	0.4			$	3,256.7
At March 31, 2024
Identifiable assets:
United States		$	23,482.4			$	1,078.8			$	2,826.8			$	27,388.0
United Kingdom			21,950.1				119.9				—				22,070.0
Australia			1,579.6				451.7				—				2,031.3
Canada			1,730.1				4.3				—				1,734.4
New Zealand			662.6				18.8				—				681.4
Other foreign			6,966.8				—				104.0				7,070.8
Total identifiable assets		$	56,371.6			$	1,673.5			$	2,930.8			$	60,975.9
Goodwill - net		$	11,281.0			$	232.1			$	19.0			$	11,532.1
Amortizable intangible assets - net			4,430.0				191.7				—				4,621.7

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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