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Business Segment Information
 3 Months Ended
Mar. 31, 2012
Business Segment Information
Business Segment Information
The Company is organized functionally in geographic operating segments. Accordingly, management focuses its attention on revenues, net revenues, operating income, identifiable assets, capital expenditures, depreciation and amortization and equity generated in each of these geographical areas when evaluating the effectiveness of geographic management. The Company charges its subsidiaries and affiliates for services rendered in the United States on a cost recovery basis. Transactions among the Company’s various offices are conducted using the same arms-length pricing methodologies the Company uses when its offices transact business with independent agents.
Financial information regarding the Company’s operations by geographic area are as follows:
 
(in thousands)
UNITED
STATES
 
OTHER
NORTH
AMERICA
 
LATIN
AMERICA
 
ASIA
PACIFIC
 
EUROPE and
AFRICA
 
MIDDLE
EAST and
INDIA
 
ELIMI-
NATIONS
 
CONSOLI-
DATED
Three months ended March 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from unaffiliated customers
$
377,302

 
49,954

 
19,269

 
688,070

 
206,271

 
70,504

 
—

 
1,411,370

Transfers between geographic areas
22,208

 
2,465

 
5,079

 
10,972

 
9,467

 
4,651

 
(54,842
)
 
—

Total revenues
$
399,510

 
52,419

 
24,348

 
699,042

 
215,738

 
75,155

 
(54,842
)
 
1,411,370

Net revenues
$
181,475

 
22,242

 
14,835

 
131,814

 
71,533

 
24,672

 
—

 
446,571

Operating income
$
45,525

 
6,369

 
4,762

 
47,238

 
14,247

 
7,130

 
—

 
125,271

Identifiable assets at quarter end
$
1,590,900

 
96,312

 
52,214

 
708,528

 
404,839

 
149,416

 
(986
)
 
3,001,223

Capital expenditures
$
9,759

 
176

 
255

 
5,287

 
942

 
669

 
—

 
17,088

Depreciation and amortization
$
5,622

 
187

 
217

 
1,624

 
1,404

 
491

 
—

 
9,545

Equity
$
1,315,321

 
56,341

 
31,060

 
471,498

 
164,165

 
93,282

 
(29,633
)
 
2,102,034

Three months ended March 31, 2011:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from unaffiliated customers
$
377,106

 
43,846

 
20,332

 
728,130

 
213,612

 
77,822

 
—

 
1,460,848

Transfers between geographic areas
23,965

 
2,682

 
5,621

 
9,183

 
10,707

 
4,209

 
(56,367
)
 
—

Total revenues
$
401,071

 
46,528

 
25,953

 
737,313

 
224,319

 
82,031

 
(56,367
)
 
1,460,848

Net revenues
$
177,934

 
20,701

 
15,103

 
141,487

 
73,926

 
24,764

 
—

 
453,915

Operating income
$
53,734

 
5,789

 
4,763

 
59,438

 
17,707

 
5,799

 
—

 
147,230

Identifiable assets at quarter end
$
1,427,414

 
86,371

 
57,960

 
659,352

 
452,675

 
153,236

 
(276
)
 
2,836,732

Capital expenditures
$
4,030

 
160

 
156

 
4,712

 
11,706

 
361

 
—

 
21,125

Depreciation and amortization
$
4,985

 
303

 
269

 
1,969

 
1,110

 
538

 
—

 
9,174

Equity
$
1,124,913

 
47,793

 
30,981

 
407,053

 
181,245

 
89,422

 
(32,287
)
 
1,849,120