BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Summarized financial information concerning the company's reportable segments

Summarized financial information concerning the Company’s reportable segments for the three months ended March 31, 2020 and 2019 is shown in the following tables. The “Other” column (i) represents amounts excluded from specific segments, such as business development operations, stock-based compensation expense and corporate expenses included in Selling, general, administrative and development expense; Other operating expenses; Interest income; Interest expense; Gain (loss) on retirement of long-term obligations; and Other income (expense), and (ii) reconciles segment operating profit to Income from continuing operations before income taxes.


	Property																		Total Property	Services	Other	Total
Three Months Ended March 31, 2020	U.S.		Asia		Africa		Europe		Latin America
Segment revenues	$	1,089.9	$	286.6	225.5		$	34.5	$	336.7	$	1,973.2	$	19.9			$	1,993.1
Segment operating expenses (1)	190.0		164.0		77.7		6.6		105.2		543.5		7.6				551.1
Segment gross margin	899.9		122.6		147.8		27.9		231.5		1,429.7		12.3				1,442.0
Segment selling, general, administrative and development expense (1)	42.0		32.6		17.1		5.5		26.6		123.8		3.5				127.3
Segment operating profit	$	857.9	$	90.0	$	130.7	$	22.4	$	204.9	$	1,305.9	$	8.8			$	1,314.7
Stock-based compensation expense															$	47.7	47.7
Other selling, general, administrative and development expense															43.7		43.7
Depreciation, amortization and accretion															472.3		472.3
Other expense (2)															311.3		311.3
Income from continuing operations before income taxes																	$	439.7
Total assets	$	22,486.9	$	4,986.0	$	4,510.3	$	1,554.5	$	6,739.0	$	40,276.7	$	29.0	$	483.4	$	40,789.1

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(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $0.9 million and $46.8 million, respectively.

(2) Primarily includes interest expense.


	Property																		Total Property	Services	Other	Total
Three Months Ended March 31, 2019	U.S.		Asia		Africa		Europe		Latin America
Segment revenues	$	986.3	$	288.9	$	144.0	$	33.5	$	333.3	$	1,786.0	$	27.4			$	1,813.4
Segment operating expenses (1)	191.3		178.0		53.5		6.2		103.4		532.4		10.1				542.5

Segment gross margin	795.0		110.9		90.5		27.3		229.9		1,253.6		17.3				1,270.9
Segment selling, general, administrative and development expense (1)	41.7		26.6		13.2		5.2		27.7		114.4		3.4				117.8
Segment operating profit	$	753.3	$	84.3	$	77.3	$	22.1	$	202.2	$	1,139.2	$	13.9			$	1,153.1
Stock-based compensation expense															$	42.5	42.5
Other selling, general, administrative and development expense															38.7		38.7
Depreciation, amortization and accretion															436.9		436.9
Other expense (2)															193.4		193.4
Income from continuing operations before income taxes																	$	441.6
Total assets	$	22,160.9	$	5,427.6	$	2,085.5	$	1,552.0	$	7,306.4	$	38,532.4	$	43.8	$	350.6	$	38,926.8

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(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $0.9 million and $41.6 million, respectively.

(2) Primarily includes interest expense.