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Segment Reporting (Notes) | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Segment Reporting | 12. Segment Reporting ASGN is a leading provider of IT and professional services in the technology, creative/digital, engineering and life sciences fields across commercial and government sectors. ASGN operates through its Apex, Oxford and ECS segments. The Apex Segment provides technical, scientific, digital and creative services and solutions to Fortune 1000 and mid-market clients across the United States and Canada. The businesses in this segment include Apex Systems, Apex Life Sciences and Creative Circle. The Oxford Segment provides "hard to find" technical, digital, engineering and life sciences resources and consulting services in select skill and geographic markets. The businesses in this segment include Oxford, CyberCoders and Life Sciences Europe. The ECS Segment delivers advanced solutions in cloud, cybersecurity, artificial intelligence, machine learning, software development, IT modernization and science and engineering and is primarily focused on federal government activities. ECS was acquired on April 2, 2018 (see Note 4. Acquisitions). The Company’s management evaluates the performance of each segment primarily based on revenues, gross profit and operating income. The information in the following tables is derived directly from the segments’ internal financial reporting used for corporate management purposes. The following tables present revenues, gross profit, operating income and amortization by reportable segment (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Apex: |  |  |  |  |  |  |  |
Revenues |  | $ | 589,717 |  |  | $ | 517,492 |  |  | $ | 1,695,728 |  |  | $ | 1,502,462 |
Gross profit |  | 177,831 |  |  | 155,783 |  |  | 506,146 |  |  | 445,925 |
Operating income |  | 71,443 |  |  | 59,016 |  |  | 192,610 |  |  | 162,679 |
Amortization |  | 6,546 |  |  | 7,194 |  |  | 19,638 |  |  | 21,983 |
Oxford: |  |  |  |  |  |  |  |
Revenues |  | $ | 152,701 |  |  | $ | 149,556 |  |  | $ | 455,222 |  |  | $ | 444,427 |
Gross profit |  | 62,712 |  |  | 62,532 |  |  | 187,321 |  |  | 183,471 |
Operating income |  | 15,156 |  |  | 16,088 |  |  | 39,794 |  |  | 39,525 |
Amortization |  | 1,040 |  |  | 1,054 |  |  | 3,143 |  |  | 3,028 |
ECS: |  |  |  |  |  |  |  |
Revenues |  | $ | 164,031 |  |  | $ | — |  |  | $ | 319,181 |  |  | $ | — |
Gross profit |  | 29,629 |  |  | — |  |  | 58,288 |  |  | — |
Operating income |  | 4,314 |  |  | — |  |  | 8,012 |  |  | — |
Amortization |  | 10,954 |  |  | — |  |  | 21,908 |  |  | — |
Corporate: |  |  |  |  |  |  |  |
Operating loss(1) |  | $ | (16,616 | ) |  | $ | (14,234 | ) |  | $ | (54,745 | ) |  | $ | (38,265 | )
Consolidated: |  |  |  |  |  |  |  |
Revenues |  | $ | 906,449 |  |  | $ | 667,048 |  |  | $ | 2,470,131 |  |  | $ | 1,946,889 |
Gross profit |  | 270,172 |  |  | 218,315 |  |  | 751,755 |  |  | 629,396 |
Operating income |  | 74,297 |  |  | 60,870 |  |  | 185,671 |  |  | 163,939 |
Amortization |  | 18,540 |  |  | 8,248 |  |  | 44,689 |  |  | 25,011 |
_____________
(1) | Corporate expenses primarily consist of consolidated stock-based compensation expense, compensation for corporate employees, acquisition, integration and strategic planning expenses, public company expenses and depreciation expense for corporate assets.
The following table presents our revenues disaggregated by type (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Apex: |  |  |  |  |  |  |  |
Assignment |  | $ | 575,309 |  |  | $ | 506,376 |  |  | $ | 1,653,835 |  |  | $ | 1,468,976 |
Permanent placement |  | 14,408 |  |  | 11,116 |  |  | 41,893 |  |  | 33,486 |
|  | $ | 589,717 |  |  | $ | 517,492 |  |  | $ | 1,695,728 |  |  | $ | 1,502,462 |
Oxford: |  |  |  |  |  |  |  |
Assignment |  | $ | 130,365 |  |  | $ | 127,963 |  |  | $ | 386,068 |  |  | $ | 379,892 |
Permanent placement |  | 22,336 |  |  | 21,593 |  |  | 69,154 |  |  | 64,535 |
|  | $ | 152,701 |  |  | $ | 149,556 |  |  | $ | 455,222 |  |  | $ | 444,427 |
ECS: |  |  |  |  |  |  |  |
Firm-fixed-price |  | $ | 48,272 |  |  | $ | — |  |  | $ | 93,034 |  |  | $ | — |
Time and materials |  | 42,102 |  |  | — |  |  | 91,097 |  |  | — |
Cost-plus-fixed-fee |  | 73,657 |  |  | — |  |  | 135,050 |  |  | — |
|  | $ | 164,031 |  |  | $ | — |  |  | $ | 319,181 |  |  | $ | — |
Consolidated |  | $ | 906,449 |  |  | $ | 667,048 |  |  | $ | 2,470,131 |  |  | $ | 1,946,889 |
The Company operates internationally, with operations mainly in the United States. The following table presents revenues by geographic location (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2018 |  | % |  | 2017 |  | % |  | 2018 |  | % |  | 2017 |  | %
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 867,754 |  |  | 95.7 | % |  | $ | 632,584 |  |  | 94.8 | % |  | $ | 2,352,993 |  |  | 95.3 | % |  | $ | 1,849,567 |  |  | 95.0 | %
Foreign |  | 38,695 |  |  | 4.3 | % |  | 34,464 |  |  | 5.2 | % |  | 117,138 |  |  | 4.7 | % |  | 97,322 |  |  | 5.0 | %
|  | $ | 906,449 |  |  | 100.0 | % |  | $ | 667,048 |  |  | 100.0 | % |  | $ | 2,470,131 |  |  | 100.0 | % |  | $ | 1,946,889 |  |  | 100.0 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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