CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
REVENUES
Commissions and fees	$ 5,763	$ 4,705	$ 4,199
Investment and other income	139	100	58
Total revenues	5,902	4,805	4,257
EXPENSES
Employee compensation and benefits	2,935	2,406	2,187
Other operating expenses	959	710	650
Loss/(gain) on disposal	2	(31)	(143)
Amortization	312	178	166
Depreciation	55	44	40
Interest	297	193	190
Change in estimated acquisition earn-out payables	25	2	21
Mark-to-market of escrow liability	(54)	0	0
Total expenses	4,531	3,502	3,111
Income before income taxes	1,371	1,303	1,146
Income taxes	304	301	275
Net income before non-controlling interests	1,067	1,002	871
Less: Net income attributable to non-controlling interests	13	9
Net income attributable to the Company	$ 1,054	$ 993	$ 871
Net income per share:
Basic	$ 3.37	$ 3.48	$ 3.07
Diluted	$ 3.16	$ 3.46	$ 3.05