SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC INFORMATION

The Company operates under one reportable segment which contains our residential, commercial, and termite service offerings. The Company's chief operating decision maker ("CODM") is the chief executive officer. The CODM uses net income to assess financial performance and allocate resources. This financial metric is used by the CODM to make key operating decisions, such as the determination of the rate of growth investments and the allocation of budget between cost categories. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The following table presents selected financial information with respect to the Company’s single reportable segment for the years ended December 31:

(in thousands)	2024		2023		2022
Revenue	$	3,388,708	$	3,073,278	$	2,695,823
Less:
Cost of services provided (exclusive of depreciation and amortization below):
Employee expenses	1,048,992		953,600		850,615
Materials and supplies	212,296		197,825		175,402
Insurance and claims	68,326		60,390		50,726
Fleet expenses	131,898		127,390		117,035
Other cost of services provided (1)	141,685		130,666		114,621
Total cost of services provided (exclusive of depreciation and amortization below)	1,603,197		1,469,871		1,308,399
Sales, general and administrative:
Selling and marketing expenses	427,916		375,805		324,935
Administrative employee expenses	313,814		291,772		263,547
Insurance and claims	41,434		37,946		30,464
Fleet expenses	33,580		31,415		29,686
Other sales, general and administrative (2)	198,323		178,295		154,078
Total sales, general and administrative	1,015,067		915,233		802,710
Restructuring costs	—		5,196		—
Depreciation and amortization	113,220		99,752		91,326
Interest expense, net	27,677		19,055		2,638
Other income, net	(683)		(22,086)		(8,167)
Income tax expense	163,851		151,300		130,318
Net income	$	466,379	$	434,957	$	368,599

1) Other cost of services provided includes facilities costs, professional services, maintenance and repairs, software license costs, and other expenses directly related to providing services.

2) Other sales, general and administrative includes facilities costs, professional services, maintenance and repairs, software license costs, bad debt expense, and other administrative expenses.

See the consolidated financial statements for other financial information regarding the Company’s reportable segment. See Note 3, Revenue for further information on revenue.

The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the consolidated statements of financial position were located as follows:

December 31,	2024		2023
(in thousands)
United States	$	503,767	$	422,340
International	35,546		27,711