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v3.25.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Summary of Financial Information Concerning Reportable Segments | Summarized financial information concerning our reportable segments is shown in the following table.
Three Months Ended June 30, 2025 | MD&E |  | IA&C |  | SC&E |  | Total
Total revenue | $ | 957.4 |  |  | $ | 949.3 |  |  | $ | 630.1 |  |  | $ | 2,536.8 |
Revenue before billable expenses | 947.7 |  |  | 860.5 |  |  | 364.5 |  |  | 2,172.7 |
Base salaries, benefits and tax | 487.5 |  |  | 526.4 |  |  | 212.9 |  |  |
Incentive expense | 38.4 |  |  | 18.5 |  |  | 7.8 |  |  |
Severance expense | 1.1 |  |  | 2.1 |  |  | 0.3 |  |  |
Temporary help | 18.3 |  |  | 38.1 |  |  | 11.9 |  |  |
Office and other direct expenses | 172.5 |  |  | 108.7 |  |  | 44.0 |  |  |
Depreciation and amortization 1 | 23.8 |  |  | 11.7 |  |  | 3.1 |  |  |
Restructuring charges 2 | 22.4 |  |  | 59.2 |  |  | 7.7 |  |  |
Other segment items 3 | 8.6 |  |  | 100.2 |  |  | 270.2 |  |  |
Segment EBITA | $ | 184.8 |  |  | $ | 84.4 |  |  | $ | 72.2 |  |  | $ | 341.4 |
Amortization of acquired intangibles | 20.1 |  |  | 0.7 |  |  | 0.3 |  |  |
Capital expenditures | 14.6 |  |  | 6.0 |  |  | 0.7 |  |  |
1 Excludes amortization of acquired intangibles. 2 Non-cash lease impairment costs were comprised of $0.7 at MD&E, $20.7 at IA&C and $1.5 at SC&E for the second quarter of June 30, 2025. 3 Includes billable expenses and other salaries and related expenses.
Three Months Ended June 30, 2024 | MD&E |  | IA&C |  | SC&E |  | Total
Total revenue | $ | 1,069.8 |  |  | $ | 1,005.0 |  |  | $ | 635.2 |  |  | $ | 2,710.0 |
Revenue before billable expenses | 1,058.7 |  |  | 914.9 |  |  | 353.5 |  |  | 2,327.1 |
Base salaries, benefits and tax | 570.5 |  |  | 556.3 |  |  | 218.8 |  |  |
Incentive expense | 39.6 |  |  | 30.5 |  |  | 12.5 |  |  |
Severance expense | 14.2 |  |  | 17.0 |  |  | 4.1 |  |  |
Temporary help | 24.0 |  |  | 35.5 |  |  | 10.8 |  |  |
Office and other direct expenses | 202.4 |  |  | 111.8 |  |  | 44.2 |  |  |
Depreciation and amortization 1 | 27.0 |  |  | 12.6 |  |  | 3.6 |  |  |
Restructuring charges 2 | 0.3 |  |  | — |  |  | — |  |  |
Other segment items 3 | 16.4 |  |  | 102.6 |  |  | 287.7 |  |  |
Segment EBITA | $ | 175.4 |  |  | $ | 138.7 |  |  | $ | 53.5 |  |  | $ | 367.6 |
Amortization of acquired intangibles | 19.1 |  |  | 0.9 |  |  | 0.4 |  |  |
Capital expenditures | 17.5 |  |  | 6.5 |  |  | 2.0 |  |  |
1 Excludes amortization of acquired intangibles. 2 Non-cash lease impairment costs were comprised of $0.3 at MD&E for the second quarter of June 30, 2024. 3 Includes billable expenses and other salaries and related expenses.
Six Months Ended June 30, 2025 | MD&E |  | IA&C |  | SC&E |  | Total
Total revenue | $ | 1,858.3 |  |  | $ | 1,812.6 |  |  | $ | 1,188.5 |  |  | $ | 4,859.4 |
Revenue before billable expenses | 1,835.4 |  |  | 1,642.2 |  |  | 691.4 |  |  | 4,169.0 |
Base salaries, benefits and tax | 986.0 |  |  | 1,062.1 |  |  | 427.5 |  |  |
Incentive expense | 81.1 |  |  | 49.3 |  |  | 19.1 |  |  |
Severance expense | 1.8 |  |  | 4.0 |  |  | 1.1 |  |  |
Temporary help | 35.7 |  |  | 71.5 |  |  | 22.2 |  |  |
Office and other direct expenses | 346.1 |  |  | 212.3 |  |  | 86.0 |  |  |
Depreciation and amortization 1 | 47.5 |  |  | 23.8 |  |  | 6.5 |  |  |
Restructuring charges 2 | 76.3 |  |  | 114.5 |  |  | 29.4 |  |  |
Other segment items 3 | 23.6 |  |  | 192.0 |  |  | 506.0 |  |  |
Segment EBITA | $ | 260.2 |  |  | $ | 83.1 |  |  | $ | 90.7 |  |  | $ | 434.0 |
Amortization of acquired intangibles | 39.3 |  |  | 1.6 |  |  | 0.6 |  |  |
Capital expenditures | 27.6 |  |  | 9.4 |  |  | 1.2 |  |  |
1 Excludes amortization of acquired intangibles. 2 Non-cash lease impairment costs were comprised of $19.7 at MD&E, $39.3 at IA&C and $10.9 at SC&E for the first half of June 30, 2025. 3 Includes billable expenses and other salaries and related expenses.
Six Months Ended June 30, 2024 | MD&E |  | IA&C |  | SC&E |  | Total
Total revenue | $ | 2,043.2 |  |  | $ | 1,968.7 |  |  | $ | 1,194.0 |  |  | $ | 5,205.9 |
Revenue before billable expenses | 2,020.1 |  |  | 1,796.2 |  |  | 693.7 |  |  | 4,510.0 |
Base salaries, benefits and tax | 1,150.5 |  |  | 1,128.3 |  |  | 439.9 |  |  |
Incentive expense | 68.7 |  |  | 49.4 |  |  | 22.1 |  |  |
Severance expense | 36.5 |  |  | 37.2 |  |  | 8.8 |  |  |
Temporary help | 49.0 |  |  | 71.9 |  |  | 21.9 |  |  |
Office and other direct expenses | 382.7 |  |  | 212.8 |  |  | 85.0 |  |  |
Depreciation and amortization 1 | 53.5 |  |  | 25.0 |  |  | 7.1 |  |  |
Restructuring charges 2 | 0.3 |  |  | 0.3 |  |  | 0.3 |  |  |
Other segment items 3 | 33.9 |  |  | 196.7 |  |  | 511.5 |  |  |
Segment EBITA | $ | 268.1 |  |  | $ | 247.1 |  |  | $ | 97.4 |  |  | $ | 612.6 |
Amortization of acquired intangibles | 38.4 |  |  | 1.8 |  |  | 0.9 |  |  |
Capital expenditures | 39.0 |  |  | 8.9 |  |  | 2.8 |  |  |
1 Excludes amortization of acquired intangibles. 2 Non-cash lease impairment costs were comprised of $0.3 at IA&C, $0.3 at MD&E and $0.3 at SC&E for the first half of June 30, 2024. 3 Includes billable expenses and other salaries and related expenses.
| June 30, 2025 |  | December 31, 2024
Total assets: |  |  |
MD&E | $ | 9,508.0 |  |  | $ | 10,253.7 |
IA&C | 4,618.2 |  |  | 4,544.3 |
SC&E | 1,729.0 |  |  | 1,758.9 |
Corporate and Other | 1,171.9 |  |  | 1,768.9 |
Total | $ | 17,027.1 |  |  | $ | 18,325.8 |
The following table presents the reconciliation of segment EBITA to Income before income taxes.
| Three months ended June 30, |  | Six months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
MD&E EBITA | $ | 184.8 |  |  | $ | 175.4 |  |  | $ | 260.2 |  |  | $ | 268.1 |
IA&C EBITA | 84.4 |  |  | 138.7 |  |  | 83.1 |  |  | 247.1 |
SC&E EBITA | 72.2 |  |  | 53.5 |  |  | 90.7 |  |  | 97.4 |
Total segment EBITA | 341.4 |  |  | 367.6 |  |  | 434.0 |  |  | 612.6 |
Corporate and other 1 | (76.6) |  |  | (29.0) |  |  | (190.8) |  |  | (69.1) |
Less: consolidated amortization of acquired intangibles | 21.1 |  | 20.4 |  | 41.5 |  | 41.1
Operating income | 243.7 |  |  | 318.2 |  |  | 201.7 |  |  | 502.4 |
Total (expenses) and other income | (25.7) |  |  | (22.5) |  |  | (78.1) |  |  | (46.1) |
Income before income taxes | $ | 218.0 |  |  | $ | 295.7 |  |  | $ | 123.6 |  |  | $ | 456.3 |
1 Includes restructuring charges of $28.7 and $101.1 for the second quarter and first half of June 30, 2025, respectively, including non-cash lease impairment costs of $0.2 and $23.3, respectively.

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- 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 + Details
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