Segment Data (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Summarized Financial Information by Segment

The following tables present financial information for each reportable segment including segment revenue, significant segment expenses, Adjusted EBITDA and related reconciliations (in millions):


	Year Ended December 31, 2024
	Americas		EMEA		APAC		Total
Revenue	$	6,998.0	$	953.2	$	1,495.3	$	9,446.5
Less:
Cost of gross contract reimbursables	$	2,314.8	$	125.7	$	416.8	$	2,857.3
Direct employment costs	3,015.0		390.4		422.5		3,827.9
Other direct costs	480.2		119.2		435.6		1,035.0
Indirect and overhead employment costs	426.9		125.2		110.0		662.1
Other indirect and overhead costs	377.2		120.6		64.2		562.0
Other segment items(1)	(52.5)		(2.4)		(24.8)		(79.7)
Adjusted EBITDA	$	436.4	$	74.5	$	71.0	$	581.9


	Year Ended December 31, 2023
	Americas		EMEA		APAC		Total
Revenue	$	7,129.0	$	973.7	$	1,391.0	$	9,493.7
Less:
Cost of gross contract reimbursables	$	2,506.9	$	115.2	$	340.2	$	2,962.3
Direct employment costs	2,857.7		394.4		427.5		3,679.6
Other direct costs	615.6		163.4		420.7		1,199.7
Indirect and overhead employment costs	449.3		137.0		111.0		697.3
Other indirect and overhead costs	382.8		120.1		62.6		565.5
Other segment items(1)	(112.9)		(33.8)		(34.1)		(180.8)
Adjusted EBITDA	$	429.6	$	77.4	$	63.1	$	570.1


	Year Ended December 31, 2022
	Americas		EMEA		APAC		Total
Revenue	$	7,751.0	$	1,030.1	$	1,324.6	$	10,105.7
Less:
Cost of gross contract reimbursables	$	2,462.1	$	102.7	$	292.8	$	2,857.6
Direct employment costs	3,225.7		426.6		401.2		4,053.5
Other direct costs	676.3		168.8		397.3		1,242.4
Indirect and overhead employment costs	431.4		121.2		103.1		655.7
Other indirect and overhead costs	372.0		147.0		86.6		605.6
Other segment items(1)	(132.0)		(42.2)		(33.7)		(207.9)
Adjusted EBITDA	$	715.5	$	106.0	$	77.3	$	898.8

(1) Other segment items in the tables above include, for each reportable segment, earnings from equity method investments, which is included in Adjusted EBITDA, as well as certain non-GAAP adjustments for unusual or non-recurring items used to calculate Adjusted EBITDA. See reconciliation of Net income (loss) to Adjusted EBITDA below.

Schedule of Adjusted EBITDA

Adjusted EBITDA is calculated as follows (in millions):


	Year Ended December 31,
	2024		2023		2022
Net income (loss)	$	131.3	$	(35.4)	$	196.4
Adjustments:
Depreciation and amortization	122.2		145.6		146.9
Interest expense, net of interest income	229.9		281.1		193.1
Provision for income taxes	44.5		5.4		141.6
Unrealized loss on investments, net	0.8		27.8		84.2
Loss on dispositions	18.4		1.8		—
Integration and other costs related to merger	4.9		11.2		14.0
Pre-IPO stock-based compensation	—		—		3.1
Acquisition related costs and efficiency initiatives	—		14.2		93.8
Cost savings initiatives	28.9		55.6		—
CEO transition costs	1.9		8.3		—
Servicing liability fees and amortization	(1.7)		11.7		7.9
Legal and compliance matters	—		23.0		—
Gain from insurance proceeds, net of legal fees	(16.5)		1.1		—
Other	17.3		18.7		17.8
Adjusted EBITDA	$	581.9	$	570.1	$	898.8

Schedule of Revenue by Geographical Areas

Revenue in the table below is allocated based upon the country in which services are performed (in millions):


	Year Ended December 31,
	2024		2023		2022
United States	$	6,680.1	$	6,810.7	$	7,447.4
Australia	466.2		472.5		447.8
United Kingdom	359.4		369.4		365.3
All other countries	1,940.8		1,841.1		1,845.2
Total revenue	$	9,446.5	$	9,493.7	$	10,105.7