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Segment Data (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Data

 

 

Three Months Ended September 30,

 

 

Nine Months Ended
 September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Revenues from services:

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States (a)

 

$

752.6

 

 

$

886.6

 

 

$

2,259.3

 

 

$

2,679.9

 

Other Americas

 

 

358.7

 

 

 

353.2

 

 

 

1,080.9

 

 

 

1,073.8

 

 

 

1,111.3

 

 

 

1,239.8

 

 

 

3,340.2

 

 

 

3,753.7

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,209.9

 

 

 

1,159.5

 

 

 

3,657.4

 

 

 

3,590.1

 

Italy

 

 

413.7

 

 

 

395.1

 

 

 

1,293.7

 

 

 

1,294.4

 

Other Southern Europe

 

 

485.1

 

 

 

485.2

 

 

 

1,452.4

 

 

 

1,550.6

 

 

 

2,108.7

 

 

 

2,039.8

 

 

 

6,403.5

 

 

 

6,435.1

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

914.2

 

 

 

954.1

 

 

 

2,834.3

 

 

 

3,075.7

 

APME

 

 

564.8

 

 

 

586.9

 

 

 

1,770.1

 

 

 

1,808.8

 

 

 

 

4,699.0

 

 

 

4,820.6

 

 

 

14,348.1

 

 

 

15,073.3

 

Intercompany Eliminations

 

 

(23.4

)

 

 

(19.7

)

 

 

(64.1

)

 

 

(55.0

)

Consolidated (b)

 

$

4,675.6

 

 

$

4,800.9

 

 

$

14,284.0

 

 

$

15,018.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating unit profit: (c)

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

25.4

 

 

$

54.7

 

 

$

82.7

 

 

$

177.7

 

Other Americas

 

 

12.5

 

 

 

16.4

 

 

 

47.0

 

 

 

47.1

 

 

 

37.9

 

 

 

71.1

 

 

 

129.7

 

 

 

224.8

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

47.9

 

 

 

56.6

 

 

 

142.3

 

 

 

168.5

 

Italy

 

 

27.0

 

 

 

29.0

 

 

 

94.0

 

 

 

93.5

 

Other Southern Europe

 

 

9.5

 

 

 

14.7

 

 

 

30.6

 

 

 

45.2

 

 

 

84.4

 

 

 

100.3

 

 

 

266.9

 

 

 

307.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

(30.6

)

 

 

12.8

 

 

 

(35.3

)

 

 

26.9

 

APME

 

 

24.2

 

 

 

23.4

 

 

 

71.0

 

 

 

64.9

 

 

 

115.9

 

 

 

207.6

 

 

 

432.3

 

 

 

623.8

 

Corporate expenses

 

 

(37.4

)

 

 

(37.0

)

 

 

(110.8

)

 

 

(114.8

)

Intangible asset amortization expense

 

 

(8.7

)

 

 

(9.1

)

 

 

(26.2

)

 

 

(28.1

)

Operating profit

 

 

69.8

 

 

 

161.5

 

 

 

295.3

 

 

 

480.9

 

Interest and other expenses, net

 

 

(15.1

)

 

 

(4.7

)

 

 

(34.4

)

 

 

(14.1

)

Earnings before income taxes

 

$

54.7

 

 

$

156.8

 

 

$

260.9

 

 

$

466.8

 
(a)
In the United States, revenues from services included fees received from the related franchise offices of $3.1 and $3.7 for the three months ended September 30, 2023 and 2022, respectively, and $8.9 and $9.7 for the nine months ended September 30, 2023 and 2022, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $98.6 and $121.9 for the three months ended September 30, 2023 and 2022, respectively, and $298.7 and $360.8 for the nine months ended September 30, 2023 and 2022, respectively.
(b)
Our consolidated revenues from services include fees received from our franchise offices of $3.8 and $4.4 for the three months ended September 30, 2023 and 2022, respectively, and $11.0 and $11.9 for the nine months ended September 30, 2023 and 2022, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $243.5 and $264.0 for the three months ended September 30, 2023 and 2022, respectively, and $744.3 and $804.8 for the nine months ended September 30, 2023 and 2022, 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.