v3.24.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

The following table presents segment revenue and segment operating income for our reportable segments for the three months ended September 30, 2024 and 2023.

 

 

 

Three Months Ended September 30,

 

 

 

HWC

 

 

R&B

 

 

Total

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Segment revenue

 

$

1,328

 

 

$

1,282

 

 

$

940

 

 

$

855

 

 

$

2,268

 

 

$

2,137

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating income

 

$

329

 

 

$

305

 

 

$

170

 

 

$

134

 

 

$

499

 

 

$

439

 

 

The following table presents segment revenue and segment operating income for our reportable segments for the nine months ended September 30, 2024 and 2023.

 

 

 

Nine Months Ended September 30,

 

 

 

HWC

 

 

R&B

 

 

Total

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Segment revenue

 

$

3,924

 

 

$

3,784

 

 

$

2,897

 

 

$

2,659

 

 

$

6,821

 

 

$

6,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating income

 

$

941

 

 

$

836

 

 

$

575

 

 

$

459

 

 

$

1,516

 

 

$

1,295

 
Net Operating Income of the Reported Segments

The following table presents reconciliations of the information reported by segment to the Company’s condensed consolidated statements of comprehensive income amounts reported for the three and nine months ended September 30, 2024 and 2023.

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Total segment revenue

 

$

2,268

 

 

$

2,137

 

 

$

6,821

 

 

$

6,443

 

Reimbursable expenses and other

 

 

21

 

 

 

29

 

 

 

74

 

 

 

126

 

Revenue

 

$

2,289

 

 

$

2,166

 

 

$

6,895

 

 

$

6,569

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment operating income

 

$

499

 

 

$

439

 

 

$

1,516

 

 

$

1,295

 

Impairment (i)

 

 

(1,042

)

 

 

—

 

 

 

(1,042

)

 

 

—

 

Amortization

 

 

(56

)

 

 

(62

)

 

 

(176

)

 

 

(203

)

Restructuring costs (ii)

 

 

(8

)

 

 

(17

)

 

 

(29

)

 

 

(30

)

Transaction and transformation (iii)

 

 

(74

)

 

 

(113

)

 

 

(296

)

 

 

(265

)

Unallocated, net (iv)

 

 

(85

)

 

 

(88

)

 

 

(247

)

 

 

(211

)

(Loss)/income from operations

 

 

(766

)

 

 

159

 

 

 

(274

)

 

 

586

 

Interest expense

 

 

(65

)

 

 

(61

)

 

 

(197

)

 

 

(172

)

Other (loss)/income, net

 

 

(1,163

)

 

 

66

 

 

 

(1,113

)

 

 

126

 

(Loss)/income from operations before income taxes

 

$

(1,994

)

 

$

164

 

 

$

(1,584

)

 

$

540

 

 

(i)
Represents the non-cash goodwill impairment associated with our BDA reporting unit related to the pending sale of our TRANZACT business (see Note 3 — Acquisitions and Divestitures for further information).
(ii)
See Note 6 — Restructuring Costs for the composition of costs for 2024 and 2023.
(iii)
In 2024 and 2023, in addition to legal fees and other transaction costs, includes primarily consulting fees and compensation costs related to the Transformation program (see Note 6 — Restructuring Costs).
(iv)
Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.