SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

We operate in one reportable segment. Our chief operating decision maker for segment reporting purposes is our CEO, who uses the profitability and significant expense detail to allocate resources and assess performance based on key functions such as customer acquisition, customer service, and indirect costs.

The primary measure of profit or loss that the CEO uses is net income. The significant expenses used in these profit or loss reports align with the primary functions of the corresponding teams, with the exception of non-cash expenses such as depreciation, amortization and stock-based compensation as these expenses are not necessarily indicative of our ongoing operations. In this expense reporting methodology, overhead-type expenses, such as facilities and technology support for colleagues, are classified consistent with the primary function of the corresponding teams and not allocated to other significant expenses.

The table below provides the primary measure of profitability and detail regarding the significant expenses reviewed by our CEO.

	Nine Months Ended September 30,
(in millions)	2025		2024
Professional service revenues	$	550	$	584
Insurance service revenues	3,159		3,143
Interest income	53		49
Total revenues	3,762		3,776
Workers' compensation costs	57		39
Health insurance costs	2,775		2,733
Sales & marketing	178		192
Client support costs	127		139
Corporate administration	115		114
System support & development	149		140
Depreciation and amortization of intangible assets	50		56
Stock based compensation	48		53
Other (1)	5		—
Interest expense, bank fees and other	42		47
Income Taxes	60		67
Net Income	156		196

(1) Other includes certain costs that are considered non-recurring such as restructuring costs.