| Schedule of Financial Information for each of the Company's Business Segments |
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| Table 3: Results of Operation by Business Segment |
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For the Three Months Ended |
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For the Six Months Ended |
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March 31, 2023 |
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March 31, 2022 |
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March 31, 2023 |
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March 31, 2022 |
|
Amount |
|
% (1) |
|
Amount |
|
% (1) |
|
Amount |
|
% (1) |
|
Amount |
|
% (1) |
|
(dollars in thousands) |
| Revenue: |
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| U.S. Federal Services |
$ |
584,075 |
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$ |
573,288 |
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$ |
1,202,242 |
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$ |
1,155,159 |
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| U.S. Services |
449,703 |
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|
398,077 |
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|
889,181 |
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|
784,494 |
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| Outside the U.S. |
173,074 |
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205,961 |
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364,675 |
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388,549 |
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| Revenue |
$ |
1,206,852 |
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$ |
1,177,326 |
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$ |
2,456,098 |
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$ |
2,328,202 |
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| Gross profit: |
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| U.S. Federal Services |
$ |
122,874 |
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|
21.0 |
% |
|
$ |
115,153 |
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|
20.1 |
% |
|
$ |
245,568 |
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20.4 |
% |
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$ |
241,729 |
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20.9 |
% |
| U.S. Services |
86,016 |
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|
19.1 |
% |
|
84,971 |
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21.3 |
% |
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169,614 |
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19.1 |
% |
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174,670 |
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22.3 |
% |
| Outside the U.S. |
19,713 |
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11.4 |
% |
|
28,327 |
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|
13.8 |
% |
|
58,168 |
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|
16.0 |
% |
|
40,207 |
|
|
10.3 |
% |
| Gross profit |
$ |
228,603 |
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|
18.9 |
% |
|
$ |
228,451 |
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19.4 |
% |
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$ |
473,350 |
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19.3 |
% |
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$ |
456,606 |
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19.6 |
% |
| Selling, general, and administrative expenses: |
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| U.S. Federal Services |
$ |
75,050 |
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12.8 |
% |
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$ |
68,949 |
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12.0 |
% |
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$ |
146,699 |
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12.2 |
% |
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$ |
133,874 |
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11.6 |
% |
| U.S. Services |
43,415 |
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9.7 |
% |
|
38,273 |
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9.6 |
% |
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89,257 |
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10.0 |
% |
|
73,375 |
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9.4 |
% |
| Outside the U.S. |
23,425 |
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13.5 |
% |
|
24,011 |
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11.7 |
% |
|
51,814 |
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14.2 |
% |
|
45,351 |
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|
11.7 |
% |
| Loss on sale of businesses (2) |
883 |
|
|
NM |
|
— |
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|
NM |
|
883 |
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|
NM |
|
— |
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|
NM |
| Other (3) |
(325) |
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|
NM |
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(926) |
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|
NM |
|
247 |
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|
NM |
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1,928 |
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|
NM |
| Selling, general, and administrative expenses |
$ |
142,448 |
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11.8 |
% |
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$ |
130,307 |
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11.1 |
% |
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$ |
288,900 |
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11.8 |
% |
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$ |
254,528 |
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10.9 |
% |
| Operating income/(loss): |
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| U.S. Federal Services |
$ |
47,824 |
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8.2 |
% |
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$ |
46,204 |
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8.1 |
% |
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$ |
98,869 |
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8.2 |
% |
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$ |
107,855 |
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9.3 |
% |
| U.S. Services |
42,601 |
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9.5 |
% |
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46,698 |
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11.7 |
% |
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80,357 |
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9.0 |
% |
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101,295 |
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12.9 |
% |
| Outside the U.S. |
(3,712) |
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|
(2.1) |
% |
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4,316 |
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2.1 |
% |
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6,354 |
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1.7 |
% |
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(5,144) |
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(1.3) |
% |
| Amortization of intangible assets |
(23,650) |
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|
NM |
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(22,856) |
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|
NM |
|
(47,168) |
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|
NM |
|
(45,261) |
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|
NM |
| Loss on sale of businesses (2) |
(883) |
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|
NM |
|
— |
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|
NM |
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(883) |
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|
NM |
|
— |
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|
NM |
| Other (3) |
325 |
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|
NM |
|
926 |
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|
NM |
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(247) |
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|
NM |
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(1,928) |
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|
NM |
| Operating income |
$ |
62,505 |
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|
5.2 |
% |
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$ |
75,288 |
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6.4 |
% |
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$ |
137,282 |
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5.6 |
% |
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$ |
156,817 |
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|
6.7 |
% |
(1)Percentage of respective segment revenue. Percentages not considered meaningful are marked "NM."
(2)During the second quarter of fiscal year 2023, we sold a small commercial practice in the United Kingdom and our employment operations business in Sweden, both subsidiaries within our Outside the U.S. Segment, resulting in a loss. Refer to "Note 7. Divestitures" for more details.
(3)Other includes credits and costs that are not allocated to a particular segment.
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