Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Summarized Financial Information Reportable Segments

Summarized financial information concerning the Company’s reportable segments is shown in the following tables.

	Three months ended March 31, 2025
(in millions)	Retail			Programs		Wholesale Brokerage		Total
Total segment revenues	$	907		$	328	$	159	$	1,394
Reconciliation of revenues
Other (1)									10
Total consolidated revenues								$	1,404
Less: (2)
Employee compensation and benefits		447			113		86
Other operating expenses		122			69		22
(Gain)/loss on disposal		2			—		—
Depreciation and amortization		43			15		5
Interest expense		15			7		2
Change in estimated acquisition earn-out payables		(6	)		2		—
Segment Income before income taxes	$	284		$	122	$	44	$	450
Reconciliation of income before income taxes
Other (1)									(23	)
Consolidated Income before income taxes								$	427

	Three months ended March 31, 2024
(in millions)	Retail			Programs		Wholesale Brokerage			Total
Total segment revenues	$	806		$	298	$	142		$	1,246
Reconciliation of revenues
Other (1)										12
Total consolidated revenues									$	1,258
Less: (2)
Employee compensation and benefits		400			109		77
Other operating expenses		115			63		19
(Gain)/loss on disposal		1			1		—
Depreciation and amortization		34			15		4
Interest expense		19			8		3
Change in estimated acquisition earn-out payables		(1	)		1		(2	)
Segment Income before income taxes	$	238		$	101	$	41		$	380
Reconciliation of income before income taxes
Other (1)										(16	)
Consolidated Income before income taxes									$	364

(1) "Other" includes any income and expenses not allocated to reportable segments and corporate-related items.

(2) Significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.