Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Financial information relating to our segments for the three and six-month periods ended June 30, 2024 and 2023 as follows

(in millions):

	Three-month period ended June 30,						Six-month period ended June 30,
	2024			2023			2024			2023
Brokerage
Total revenues	$	2,376.3		$	2,088.4		$	5,241.2		$	4,463.6
Earnings before income taxes	$	446.3		$	390.5		$	1,322.4		$	1,081.4
Identifiable assets at June 30, 2024 and 2023							$	58,776.7		$	50,623.8
Risk Management
Total revenues	$	398.0		$	353.6		$	789.4		$	684.4
Earnings before income taxes	$	65.4		$	49.9		$	118.6		$	95.4
Identifiable assets at June 30, 2024 and 2023							$	1,683.4		$	1,212.8
Corporate
Total revenues	$	1.1		$	(0.1	)	$	1.5		$	—
Loss before income taxes	$	(146.1	)	$	(143.0	)	$	(302.7	)	$	(273.6	)
Identifiable assets at June 30, 2024 and 2023							$	2,547.6		$	2,528.6
Total
Total revenues	$	2,775.4		$	2,441.9		$	6,032.1		$	5,148.0
Earnings before income taxes	$	365.6		$	297.4		$	1,138.3		$	903.2
Identifiable assets at June 30, 2024 and 2023							$	63,007.7		$	54,365.2

Summary of Revenues by Type and Segment

Revenues by type and segment for the three-month period ended June 30, 2024 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	1,661.8	$	—	$	—	$	1,661.8
Fees		477.6		349.5		—		827.1
Supplemental revenues		88.7		—		—		88.7
Contingent revenues		59.8		—		—		59.8
Interest income, premium finance revenues and other income		88.4		9.1		1.1		98.6
Revenues before reimbursements		2,376.3		358.6		1.1		2,736.0
Reimbursements		—		39.4		—		39.4
Total revenues	$	2,376.3	$	398.0	$	1.1	$	2,775.4

Revenues by type and segment for the six-month period ended June 30, 2024 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	3,655.4	$	—	$	—	$	3,655.4
Fees		1,084.3		694.0		—		1,778.3
Supplemental revenues		182.6		—		—		182.6
Contingent revenues		145.8		—		—		145.8
Interest income, premium finance revenues and other income		173.1		17.4		1.5		192.0
Revenues before reimbursements		5,241.2		711.4		1.5		5,954.1
Reimbursements		—		78.0		—		78.0
Total revenues	$	5,241.2	$	789.4	$	1.5	$	6,032.1

Revenues by type and segment for the three-month period ended June 30, 2023 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate			Total
Revenues:
Commissions	$	1,410.4	$	—	$	—		$	1,410.4
Fees		478.5		312.0		—			790.5
Supplemental revenues		71.2		—		—			71.2
Contingent revenues		54.2		—		—			54.2
Interest income, premium finance revenues and other income		74.1		6.6		(0.1	)		80.6
Revenues before reimbursements		2,088.4		318.6		(0.1	)		2,406.9
Reimbursements		—		35.0		—			35.0
Total revenues	$	2,088.4	$	353.6	$	(0.1	)	$	2,441.9

Revenues by type and segment for the six-month period ended June 30, 2023 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
Commissions	$	3,157.8	$	—	$	—	$	3,157.8
Fees		891.2		605.0		—		1,496.2
Supplemental revenues		152.8		—		—		152.8
Contingent revenues		126.0		—		—		126.0
Interest income, premium finance revenues and other income		135.8		11.2		—		147.0
Revenues before reimbursements		4,463.6		616.2		—		5,079.8
Reimbursements		—		68.2		—		68.2
Total revenues	$	4,463.6	$	684.4	$	—	$	5,148.0

Summary of Geographical Location and Segment

Revenues by geographical location and segment for the three-month period ended June 30, 2024 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	1,394.6	$	324.2	$	1.1	$	1,719.9
United Kingdom		574.6		14.0		—		588.6
Australia		90.9		56.0		—		146.9
Canada		110.3		1.7		—		112.0
New Zealand		55.9		2.1		—		58.0
Other foreign		150.0		—		—		150.0
Total revenues	$	2,376.3	$	398.0	$	1.1	$	2,775.4

Revenues by geographical location and segment for the six-month period ended June 30, 2024 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	3,208.6	$	644.7	$	1.5	$	3,854.8
United Kingdom		1,159.4		28.0		—		1,187.4
Australia		158.9		109.0		—		267.9
Canada		213.4		3.4		—		216.8
New Zealand		97.6		4.3		—		101.9
Other foreign		403.3		—		—		403.3
Total revenues	$	5,241.2	$	789.4	$	1.5	$	6,032.1

Revenues by geographical location and segment for the three-month period ended June 30, 2023 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate			Total
Revenues:
United States	$	1,199.7	$	298.7	$	(0.1	)	$	1,498.3
United Kingdom		527.6		11.6		—			539.2
Australia		83.8		37.5		—			121.3
Canada		104.6		1.5		—			106.1
New Zealand		53.0		4.3		—			57.3
Other foreign		119.7		—		—			119.7
Total revenues	$	2,088.4	$	353.6	$	(0.1	)	$	2,441.9

Revenues by geographical location and segment for the six-month period ended June 30, 2023 are as follows (in millions):

			Risk
	Brokerage		Management		Corporate		Total
Revenues:
United States	$	2,675.0	$	578.8	$	—	$	3,253.8
United Kingdom		1,041.1		22.9		—		1,064.0
Australia		148.0		71.5		—		219.5
Canada		198.3		3.0		—		201.3
New Zealand		91.0		8.2		—		99.2
Other foreign		310.2		—		—		310.2
Total revenues	$	4,463.6	$	684.4	$	—	$	5,148.0