Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Financial information relating to our segments for the three and six-month periods ended June 30, 2022 and 2021 as follows

(in millions):

	Three-month period ended June 30,						Six-month period ended June 30,
	2022			2021			2022			2021
Brokerage
Total revenues	$	1,740.7		$	1,390.2		$	3,863.3		$	3,000.4
Earnings before income taxes	$	410.9		$	299.7		$	1,029.3		$	780.0
Identifiable assets at June 30, 2022 and 2021							$	36,374.1		$	21,858.6
Risk Management
Total revenues	$	302.0		$	281.7		$	591.9		$	534.4
Earnings before income taxes	$	38.8		$	33.4		$	71.1		$	57.5
Identifiable assets at June 30, 2022 and 2021							$	1,101.8		$	1,058.5
Corporate
Total revenues	$	0.3		$	261.6		$	23.1		$	563.7
Loss before income taxes	$	(97.4	)	$	(110.8	)	$	(210.4	)	$	(206.8	)
Identifiable assets at June 30, 2022 and 2021							$	2,514.5		$	4,900.1
Total
Total revenues	$	2,043.0		$	1,933.5		$	4,478.3		$	4,098.5
Earnings before income taxes	$	352.3		$	222.3		$	890.0		$	630.7
Identifiable assets at June 30, 2022 and 2021							$	39,990.4		$	27,817.2

Summary of Revenues by Type and Segment

Revenues by type and segment for the three-month period ended June 30, 2022 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	1,282.4	$	—	$	—	$	1,282.4
Fees		323.6		267.3		—		590.9
Supplemental revenues		65.7		—		—		65.7
Contingent revenues		43.1		—		—		43.1
Investment income		23.1		0.1		—		23.2
Net gains on divestitures		2.8		—		—		2.8
Revenues from clean coal activities		—		—		0.3		0.3
Revenues before reimbursements		1,740.7		267.4		0.3		2,008.4
Reimbursements		—		34.6		—		34.6
Total revenues	$	1,740.7	$	302.0	$	0.3	$	2,043.0

Revenues by type and segment for the six-month period ended June 30, 2022 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	2,847.7	$	—	$	—	$	2,847.7
Fees		715.5		526.3		—		1,241.8
Supplemental revenues		140.0		—		—		140.0
Contingent revenues		114.7		—		—		114.7
Investment income		41.2		0.2		—		41.4
Net gains on divestitures		4.2		—		—		4.2
Revenues from clean coal activities		—		—		23.0		23.0
Other net revenues		—		—		0.1		0.1
Revenues before reimbursements		3,863.3		526.5		23.1		4,412.9
Reimbursements		—		65.4		—		65.4
Total revenues	$	3,863.3	$	591.9	$	23.1	$	4,478.3

Revenues by type and segment for the three-month period ended June 30, 2021 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	977.1	$	—	$	—	$	977.1
Fees		296.0		244.9		—		540.9
Supplemental revenues		55.2		—		—		55.2
Contingent revenues		43.3		—		—		43.3
Investment income		18.1		—		—		18.1
Net gains on divestitures		0.5		0.1		—		0.6
Revenues from clean coal activities		—		—		261.0		261.0
Other net revenues		—		—		0.6		0.6
Revenues before reimbursements		1,390.2		245.0		261.6		1,896.8
Reimbursements		—		36.7		—		36.7
Total revenues	$	1,390.2	$	281.7	$	261.6	$	1,933.5

Revenues by type and segment for the six-month period ended June 30, 2021 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	2,102.5	$	—	$	—	$	2,102.5
Fees		629.6		465.1		—		1,094.7
Supplemental revenues		122.0		—		—		122.0
Contingent revenues		106.6		—		—		106.6
Investment income		35.1		0.1		—		35.2
Net gains on divestitures		4.6		0.1		—		4.7
Revenues from clean coal activities		—		—		561.6		561.6
Other net revenues		—		—		2.1		2.1
Revenues before reimbursements		3,000.4		465.3		563.7		4,029.4
Reimbursements		—		69.1		—		69.1
Total revenues	$	3,000.4	$	534.4	$	563.7	$	4,098.5

Summary of Geographical Location and Segment

Revenues by geographical location and segment for the three-month period ended June 30, 2022 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	1,015.0	$	250.2	$	0.3	$	1,265.5
United Kingdom		426.2		12.5		—		438.7
Australia		76.6		34.3		—		110.9
Canada		93.8		1.4		—		95.2
New Zealand		47.2		3.6		—		50.8
Other foreign		81.9		—		—		81.9
Total revenues	$	1,740.7	$	302.0	$	0.3	$	2,043.0

Revenues by geographical location and segment for the six-month period ended June 30, 2022 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	2,351.7	$	492.5	$	23.1	$	2,867.3
United Kingdom		866.4		23.5		—		889.9
Australia		135.6		66.0		—		201.6
Canada		181.3		2.8		—		184.1
New Zealand		81.6		7.1		—		88.7
Other foreign		246.7		—		—		246.7
Total revenues	$	3,863.3	$	591.9	$	23.1	$	4,478.3

Revenues by geographical location and segment for the three-month period ended June 30, 2021 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	812.4	$	231.5	$	261.6	$	1,305.5
United Kingdom		326.1		11.8		—		337.9
Australia		70.7		33.0		—		103.7
Canada		79.9		1.4		—		81.3
New Zealand		45.4		4.0		—		49.4
Other foreign		55.7		—		—		55.7
Total revenues	$	1,390.2	$	281.7	$	261.6	$	1,933.5

Revenues by geographical location and segment for the six-month period ended June 30, 2021 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	1,919.0	$	439.0	$	563.7	$	2,921.7
United Kingdom		618.5		22.9		—		641.4
Australia		124.7		62.0		—		186.7
Canada		147.4		2.8		—		150.2
New Zealand		77.9		7.7		—		85.6
Other foreign		112.9		—		—		112.9
Total revenues	$	3,000.4	$	534.4	$	563.7	$	4,098.5