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Segment Data (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Data

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenues from services:

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States (a)

 

$

697.0

 

 

$

709.1

 

 

$

1,377.4

 

 

$

1,450.7

 

Other Americas

 

 

367.4

 

 

 

389.6

 

 

 

723.4

 

 

 

778.2

 

 

 

1,064.4

 

 

 

1,098.7

 

 

 

2,100.8

 

 

 

2,228.9

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,184.9

 

 

 

1,278.2

 

 

 

2,304.2

 

 

 

2,447.5

 

Italy

 

 

434.9

 

 

 

457.8

 

 

 

839.2

 

 

 

880.0

 

Other Southern Europe

 

 

478.2

 

 

 

490.9

 

 

 

935.9

 

 

 

967.3

 

 

 

2,098.0

 

 

 

2,226.9

 

 

 

4,079.3

 

 

 

4,294.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

837.3

 

 

 

952.5

 

 

 

1,707.6

 

 

 

1,920.1

 

APME

 

 

541.4

 

 

 

599.4

 

 

 

1,076.5

 

 

 

1,205.3

 

 

 

 

4,541.1

 

 

 

4,877.5

 

 

 

8,964.2

 

 

 

9,649.1

 

Intercompany Eliminations

 

 

(20.4

)

 

 

(21.4

)

 

 

(40.2

)

 

 

(40.7

)

Consolidated (b)

 

$

4,520.7

 

 

$

4,856.1

 

 

$

8,924.0

 

 

$

9,608.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating unit profit: (c)

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

27.4

 

 

$

23.1

 

 

$

39.4

 

 

$

53.1

 

Other Americas

 

 

17.7

 

 

 

20.1

 

 

 

31.8

 

 

 

38.7

 

 

 

45.1

 

 

 

43.2

 

 

 

71.2

 

 

 

91.8

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

40.3

 

 

 

49.5

 

 

 

73.4

 

 

 

94.4

 

Italy

 

 

34.0

 

 

 

36.3

 

 

 

61.4

 

 

 

67.0

 

Other Southern Europe

 

 

8.9

 

 

 

6.8

 

 

 

18.3

 

 

 

21.1

 

 

 

83.2

 

 

 

92.6

 

 

 

153.1

 

 

 

182.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

(2.4

)

 

 

(9.7

)

 

 

(2.4

)

 

 

(4.7

)

APME

 

 

25.0

 

 

 

25.7

 

 

 

44.9

 

 

 

46.8

 

 

 

150.9

 

 

 

151.8

 

 

 

266.8

 

 

 

316.4

 

Corporate expenses

 

 

(41.7

)

 

 

(35.5

)

 

 

(83.4

)

 

 

(73.4

)

Intangible asset amortization expense

 

 

(8.1

)

 

 

(8.7

)

 

 

(16.4

)

 

 

(17.5

)

Operating profit

 

 

101.1

 

 

 

107.6

 

 

 

167.0

 

 

 

225.5

 

Interest and other expenses, net

 

 

(8.7

)

 

 

(11.8

)

 

 

(17.1

)

 

 

(19.3

)

Earnings before income taxes

 

$

92.4

 

 

$

95.8

 

 

$

149.9

 

 

$

206.2

 
(a)
In the United States, revenues from services included fees received from the related franchise offices of $3.2 and $2.6 for the three months ended June 30, 2024 and 2023, respectively, and $5.6 and $5.8 for the six months ended June 30, 2024 and 2023, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $99.8 and $100.8 for the three months ended June 30, 2024 and 2023, respectively, and $187.2 and $200.1 for the six months ended June 30, 2024 and 2023, respectively.
(b)
Our consolidated revenues from services include fees received from our franchise offices of $4.0 and $3.3 for the three months ended June 30, 2024 and 2023, respectively, and $7.3 and $7.2 for the six months ended June 30, 2024 and 2023, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $287.7 and $250.6 for the three months ended June 30, 2024 and 2023, respectively, and $564.9 and $500.8 for the six months ended June 30, 2024 and 2023, respectively.
(c)
We evaluate segment performance based on operating unit profit (“OUP”), which is equal to segment revenues less cost of services and branch and national headquarters operating costs. This profit measure does not include goodwill and intangible asset impairment charges or amortization of intangibles related to acquisitions, corporate expenses, interest and other expense amounts or income taxes.