| 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 Nine Months Ended |
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June 30, 2023 |
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June 30, 2022 |
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June 30, 2023 |
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June 30, 2022 |
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Amount |
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% (1) |
|
Amount |
|
% (1) |
|
Amount |
|
% (1) |
|
Amount |
|
% (1) |
|
(dollars in thousands) |
| Revenue: |
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| U.S. Federal Services |
$ |
583,960 |
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$ |
525,519 |
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$ |
1,786,202 |
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$ |
1,680,678 |
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| U.S. Services |
449,061 |
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399,320 |
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1,338,242 |
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1,183,814 |
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| Outside the U.S. |
155,656 |
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200,946 |
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520,331 |
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589,495 |
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| Revenue |
$ |
1,188,677 |
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$ |
1,125,785 |
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$ |
3,644,775 |
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$ |
3,453,987 |
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| Gross profit: |
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| U.S. Federal Services |
$ |
156,945 |
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|
26.9 |
% |
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$ |
124,203 |
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23.6 |
% |
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$ |
402,513 |
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22.5 |
% |
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$ |
365,932 |
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21.8 |
% |
| U.S. Services |
98,538 |
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21.9 |
% |
|
74,135 |
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18.6 |
% |
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268,152 |
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20.0 |
% |
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248,805 |
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21.0 |
% |
| Outside the U.S. |
8,881 |
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5.7 |
% |
|
11,883 |
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5.9 |
% |
|
67,049 |
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12.9 |
% |
|
52,090 |
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|
8.8 |
% |
| Gross profit |
$ |
264,364 |
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|
22.2 |
% |
|
$ |
210,221 |
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|
18.7 |
% |
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$ |
737,714 |
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20.2 |
% |
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$ |
666,827 |
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19.3 |
% |
| Selling, general, and administrative expenses: |
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| U.S. Federal Services |
$ |
82,892 |
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14.2 |
% |
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$ |
69,466 |
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13.2 |
% |
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$ |
229,591 |
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12.9 |
% |
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$ |
203,340 |
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12.1 |
% |
| U.S. Services |
51,536 |
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11.5 |
% |
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42,351 |
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10.6 |
% |
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140,793 |
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10.5 |
% |
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115,726 |
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9.8 |
% |
| Outside the U.S. |
24,122 |
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15.5 |
% |
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23,101 |
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11.5 |
% |
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75,936 |
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14.6 |
% |
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68,452 |
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11.6 |
% |
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| Loss on sale of businesses (2) |
— |
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|
NM |
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— |
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|
NM |
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883 |
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|
NM |
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— |
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|
NM |
| Other (3) |
23,995 |
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NM |
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(1,944) |
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NM |
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24,242 |
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NM |
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(16) |
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NM |
| Selling, general, and administrative expenses |
$ |
182,545 |
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15.4 |
% |
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$ |
132,974 |
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11.8 |
% |
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$ |
471,445 |
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12.9 |
% |
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$ |
387,502 |
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11.2 |
% |
| Operating income/(loss): |
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| U.S. Federal Services |
$ |
74,053 |
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12.7 |
% |
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$ |
54,737 |
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10.4 |
% |
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$ |
172,922 |
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9.7 |
% |
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$ |
162,592 |
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9.7 |
% |
| U.S. Services |
47,002 |
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10.5 |
% |
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31,784 |
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8.0 |
% |
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127,359 |
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9.5 |
% |
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133,079 |
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11.2 |
% |
| Outside the U.S. |
(15,241) |
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(9.8) |
% |
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(11,218) |
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(5.6) |
% |
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(8,887) |
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(1.7) |
% |
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(16,362) |
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|
(2.8) |
% |
| Amortization of intangible assets |
(23,431) |
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|
NM |
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(22,690) |
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|
NM |
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(70,599) |
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|
NM |
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(67,951) |
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|
NM |
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| Loss on sale of businesses (2) |
— |
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NM |
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— |
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|
NM |
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(883) |
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|
NM |
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— |
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|
NM |
| Other (3) |
(23,995) |
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NM |
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1,944 |
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NM |
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(24,242) |
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|
NM |
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16 |
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|
NM |
| Operating income |
$ |
58,388 |
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4.9 |
% |
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$ |
54,557 |
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4.8 |
% |
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$ |
195,670 |
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5.4 |
% |
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$ |
211,374 |
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6.1 |
% |
(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. In the three and nine months ended June 30, 2023, these charges include $22.1 million related to the costs of a previously disclosed cybersecurity incident. Other charges include those related to acquisitions.
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