Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Summary of Financial Information Concerning Reportable Segments

Summarized financial information concerning our reportable segments is shown in the following table.


Three Months Ended September 30, 2025	MD&E		IA&C		SC&E		Total

Total revenue	$	954.1	$	940.1	$	599.8	$	2,494.0

Revenue before billable expenses	938.8		848.1		348.7		2,135.6

Base salaries, benefits and tax	498.4		523.0		210.6
Incentive expense	21.6		17.0		7.3
Severance expense	0.5		2.5		1.3
Temporary help	19.0		39.2		11.8

Office and other direct expenses	164.0		99.8		40.7

Depreciation and amortization1	22.6		11.4		2.9
Restructuring charges2	37.1		24.5		11.6
Other segment items3	17.4		104.9		254.2

Segment EBITA	$	173.5	$	117.8	$	59.4	$	350.7

Amortization of acquired intangibles	22.8		0.6		0.4
Capital expenditures	14.4		6.5		2.4

1 Excludes amortization of acquired intangibles.

2 Non-cash lease impairment costs were comprised of $12.5 at MD&E, $0.7 at IA&C and $1.3 at SC&E for the three months ended September 30, 2025.

3 Includes billable expenses and other salaries and related expenses.


Three Months Ended September 30, 2024	MD&E		IA&C		SC&E		Total

Total revenue	$	1,041.5	$	942.9	$	644.4	$	2,628.8

Revenue before billable expenses	1,025.2		849.4		368.1		2,242.7

Base salaries, benefits and tax	548.5		535.9		216.8
Incentive expense	36.2		7.1		6.6
Severance expense	7.0		14.5		3.4
Temporary help	22.3		33.7		11.8

Office and other direct expenses	183.1		101.4		42.6

Depreciation and amortization1	27.6		12.7		3.4
Restructuring charges2	0.5		—		—
Other segment items3	20.8		104.1		281.4

Segment EBITA	$	195.5	$	133.5	$	78.4	$	407.4

Amortization of acquired intangibles	19.2		0.8		0.3
Impairment of Goodwill	232.1		—		—
Capital expenditures	18.2		7.6		5.4

1 Excludes amortization of acquired intangibles.

2 Non-cash lease impairment costs were comprised of $0.4 at MD&E for the three months ended September 30, 2024.

3 Includes billable expenses and other salaries and related expenses.


Nine Months Ended September 30, 2025	MD&E		IA&C		SC&E		Total

Total revenue	$	2,812.1	$	2,753.0	$	1,788.3	$	7,353.4

Revenue before billable expenses	2,773.9		2,490.6		1,040.1		6,304.6

Base salaries, benefits and tax	1,483.1		1,586.4		638.1
Incentive expense	102.0		67.0		26.4
Severance expense	2.3		6.5		2.4
Temporary help	54.7		110.7		34.0

Office and other direct expenses	509.4		312.8		126.7

Depreciation and amortization1	70.1		35.2		9.4
Restructuring charges2	113.3		139.0		41.1
Other segment items3	41.1		296.8		760.2

Segment EBITA	$	436.1	$	198.6	$	150.0	$	784.7

Amortization of acquired intangibles	62.1		2.2		1.0
Capital expenditures	42.0		15.9		3.6

1 Excludes amortization of acquired intangibles.

2 Non-cash lease impairment costs were comprised of $32.2 at MD&E, $40.0 at IA&C and $12.2 at SC&E for the nine months ended September 30, 2025.

3 Includes billable expenses and other salaries and related expenses.


Nine Months Ended September 30, 2024	MD&E		IA&C		SC&E		Total

Total revenue	$	3,083.2	$	2,913.1	$	1,838.4	$	7,834.7

Revenue before billable expenses	3,043.8		2,647.1		1,061.8		6,752.7

Base salaries, benefits and tax	1,697.9		1,665.3		656.7
Incentive expense	104.3		57.1		28.7
Severance expense	43.4		51.8		12.2
Temporary help	71.3		105.6		33.7

Office and other direct expenses	564.5		315.5		127.6

Depreciation and amortization1	81.0		37.8		10.5
Restructuring charges2	0.8		0.3		0.3
Other segment items3	54.7		300.8		792.9

Segment EBITA	$	465.3	$	378.9	$	175.8	$	1,020.0

Amortization of acquired intangibles	57.6		2.6		1.2
Impairment of Goodwill	232.1		—		—
Capital expenditures	57.2		16.5		8.2

1 Excludes amortization of acquired intangibles.

2 Non-cash lease impairment costs were comprised of $0.6 at MD&E, $0.3 at IA&C and $0.3 at SC&E for the nine months ended September 30, 2024.

3 Includes billable expenses and other salaries and related expenses.


	September 30, 2025		December 31, 2024
Total assets:
MD&E	$	9,652.7	$	10,253.0
IA&C	4,508.1		4,545.0
SC&E	1,701.2		1,758.9
Corporate and Other	1,103.3		1,768.9
Total	$	16,965.3	$	18,325.8

The following table presents the reconciliation of segment EBITA to Income before income taxes.


	Three months ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024
MD&E EBITA	$	173.5	$	195.5	$	436.1	$	465.3
IA&C EBITA	117.8		133.5		198.6		378.9
SC&E EBITA	59.4		78.4		150.0		175.8
Total segment EBITA	350.7		407.4		784.7		1,020.0
Corporate and other1	(107.9)		(22.1)		(298.7)		(91.2)
Less: consolidated amortization of acquired intangibles	23.8		20.3		65.3		61.4
Less: impairment of goodwill	—		232.1		—		232.1
Operating income	219.0		132.9		420.7		635.3
Total (expenses) and other income	(30.3)		(23.4)		(108.4)		(69.5)
Income before income taxes	$	188.7	$	109.5	$	312.3	$	565.8

1 Includes restructuring charges of $56.3 and $157.4 for the third quarter and first nine months of September 30, 2025, respectively, including non-cash lease impairment costs of $0.1 and $23.4, respectively.