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Segment Data (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Data

Three Months Ended June 30, 2025

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

674.1

 

 

$

498.2

 

 

$

156.2

 

 

$

19.7

 

Other Americas

 

 

385.9

 

 

 

326.9

 

 

 

42.6

 

 

 

16.4

 

 

 

 

1,060.0

 

 

 

825.1

 

 

 

198.8

 

 

 

36.1

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,149.3

 

 

 

983.0

 

 

 

134.0

 

 

 

32.3

 

Italy

 

 

475.9

 

 

 

400.4

 

 

 

43.7

 

 

 

31.8

 

Other Southern Europe

 

 

524.1

 

 

 

455.6

 

 

 

59.3

 

 

 

9.2

 

 

 

 

2,149.3

 

 

 

1,839.0

 

 

 

237.0

 

 

 

73.3

 

Northern Europe

 

 

794.4

 

 

 

663.7

 

 

 

139.7

 

 

 

(9.0

)

APME

 

 

525.3

 

 

 

435.3

 

 

 

63.6

 

 

 

26.4

 

Total Segments

 

 

4,529.0

 

 

 

3,763.1

 

 

 

639.1

 

 

 

126.8

 

Intercompany Eliminations

 

 

(9.7

)

 

 

(7.5

)

 

 

(2.2

)

 

 

—

 

 

 

$

4,519.3

 

 

$

3,755.6

 

 

$

636.9

 

 

$

126.8

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(55.1

)

Impairment charges (b)

 

 

 

 

 

 

 

 

 

 

 

(88.7

)

Intangible asset amortization expense (c)

 

 

 

 

 

 

 

 

 

 

 

(8.3

)

Operating loss

 

 

 

 

 

 

 

 

 

 

 

(25.3

)

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(16.5

)

Loss before income taxes

 

 

 

 

 

 

 

 

 

 

$

(41.8

)
(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $2.6 for the three months ended June 30, 2025.
(b)
Impairment charges for the three months ended June 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.

Three Months Ended June 30, 2024

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

697.0

 

 

$

514.3

 

 

$

155.3

 

 

$

27.4

 

Other Americas

 

 

367.4

 

 

 

304.7

 

 

 

45.0

 

 

 

17.7

 

 

 

 

1,064.4

 

 

 

819.0

 

 

 

200.3

 

 

 

45.1

 

Southern Europe:(b)

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,164.1

 

 

 

996.9

 

 

 

127.4

 

 

 

39.8

 

Italy

 

 

434.9

 

 

 

360.1

 

 

 

40.8

 

 

 

34.0

 

Other Southern Europe

 

 

499.0

 

 

 

433.9

 

 

 

55.7

 

 

 

9.4

 

 

 

 

2,098.0

 

 

 

1,790.9

 

 

 

223.9

 

 

 

83.2

 

Northern Europe

 

 

837.3

 

 

 

690.6

 

 

 

149.1

 

 

 

(2.4

)

APME

 

 

541.4

 

 

 

454.7

 

 

 

61.7

 

 

 

25.0

 

Total Segments

 

 

4,541.1

 

 

 

3,755.2

 

 

 

635.0

 

 

 

150.9

 

Intercompany Eliminations

 

 

(20.4

)

 

 

(20.4

)

 

 

—

 

 

 

—

 

 

 

$

4,520.7

 

 

$

3,734.8

 

 

$

635.0

 

 

$

150.9

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(41.7

)

Intangible asset amortization expense(c)

 

 

 

 

 

 

 

 

 

 

 

(8.1

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

101.1

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(8.7

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

 

$

92.4

 
(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $3.2 for the three months ended June 30, 2024.
(b)
Effective January 1, 2025, our segment reporting was realigned to include our Morocco business within Other Southern Europe. Accordingly, France is now adjusted to exclude Morocco. All previously reported results have been recast to conform to the current year presentation.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.

Six Months Ended June 30, 2025

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

1,362.9

 

 

$

1,015.2

 

 

$

316.7

 

 

$

31.0

 

Other Americas

 

 

753.8

 

 

 

640.1

 

 

 

83.1

 

 

 

30.6

 

 

 

 

2,116.7

 

 

 

1,655.3

 

 

 

399.8

 

 

 

61.6

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

2,115.0

 

 

 

1,807.9

 

 

 

253.8

 

 

 

53.3

 

Italy

 

 

873.7

 

 

 

734.1

 

 

 

83.2

 

 

 

56.4

 

Other Southern Europe

 

 

994.6

 

 

 

862.9

 

 

 

117.9

 

 

 

13.8

 

 

 

 

3,983.3

 

 

 

3,404.9

 

 

 

454.9

 

 

 

123.5

 

Northern Europe

 

 

1,525.2

 

 

 

1,268.1

 

 

 

284.4

 

 

 

(27.3

)

APME

 

 

1,001.7

 

 

 

833.3

 

 

 

122.0

 

 

 

46.4

 

Total Segments

 

 

8,626.9

 

 

 

7,161.6

 

 

 

1,261.1

 

 

 

204.2

 

Intercompany Eliminations

 

 

(17.3

)

 

 

(14.0

)

 

 

(3.3

)

 

 

—

 

 

 

$

8,609.6

 

 

$

7,147.6

 

 

$

1,257.8

 

 

$

204.2

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(96.2

)

Impairment charges (b)

 

 

 

 

 

 

 

 

 

 

 

(88.7

)

Intangible asset amortization expense (c)

 

 

 

 

 

 

 

 

 

 

 

(16.4

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

2.9

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(28.0

)

Loss before income taxes

 

 

 

 

 

 

 

 

 

 

$

(25.1

)
(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $4.8 for the six months ended June 30, 2025.
(b)
Impairment charges for the six months ended June 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.

 

 

Six Months Ended June 30, 2024

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

1,377.4

 

 

$

1,015.8

 

 

$

322.2

 

 

$

39.4

 

Other Americas

 

 

723.4

 

 

 

601.4

 

 

 

90.2

 

 

 

31.8

 

 

 

 

2,100.8

 

 

 

1,617.2

 

 

 

412.4

 

 

 

71.2

 

Southern Europe:(b)

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

2,263.4

 

 

 

1,935.1

 

 

 

255.8

 

 

 

72.5

 

Italy

 

 

839.2

 

 

 

696.5

 

 

 

81.3

 

 

 

61.4

 

Other Southern Europe

 

 

976.7

 

 

 

846.7

 

 

 

110.8

 

 

 

19.2

 

 

 

 

4,079.3

 

 

 

3,478.3

 

 

 

447.9

 

 

 

153.1

 

Northern Europe

 

 

1,707.6

 

 

 

1,410.9

 

 

 

299.1

 

 

 

(2.4

)

APME

 

 

1,076.5

 

 

 

908.2

 

 

 

123.4

 

 

 

44.9

 

Total Segments

 

 

8,964.2

 

 

 

7,414.6

 

 

 

1,282.8

 

 

 

266.8

 

Intercompany Eliminations

 

 

(40.2

)

 

 

(40.2

)

 

 

—

 

 

 

—

 

 

 

$

8,924.0

 

 

$

7,374.4

 

 

$

1,282.8

 

 

$

266.8

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(83.4

)

Intangible asset amortization expense(c)

 

 

 

 

 

 

 

 

 

 

 

(16.4

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

167.0

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(17.1

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

 

$

149.9

 
(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $5.6 for the six months ended June 30, 2024.
(b)
Effective January 1, 2025, our segment reporting was realigned to include our Morocco business within Other Southern Europe. Accordingly, France is now adjusted to exclude Morocco. All previously reported results have been recast to conform to the current year presentation.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.