| Schedule of Financial Information for each of the Company's Business Segments |
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| Table 3.1: Results of Operation by Business Segment |
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For the Three Months Ended |
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December 31, 2023 |
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December 31, 2022 |
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Amount |
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% (1) |
|
Amount |
|
% (1) |
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(dollars in thousands) |
| Revenue: |
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| U.S. Federal Services |
$ |
677,078 |
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|
$ |
618,167 |
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| U.S. Services |
489,845 |
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|
439,478 |
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| Outside the U.S. |
160,118 |
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191,601 |
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| Revenue |
$ |
1,327,041 |
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$ |
1,249,246 |
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| Gross profit: |
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| U.S. Federal Services |
$ |
156,662 |
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|
23.1 |
% |
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$ |
122,694 |
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19.8 |
% |
| U.S. Services |
118,363 |
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24.2 |
% |
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83,598 |
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19.0 |
% |
| Outside the U.S. |
25,029 |
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15.6 |
% |
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38,455 |
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|
20.1 |
% |
| Gross profit |
$ |
300,054 |
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|
22.6 |
% |
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$ |
244,747 |
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19.6 |
% |
| Selling, general, and administrative expenses: |
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| U.S. Federal Services |
$ |
87,855 |
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|
13.0 |
% |
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$ |
71,649 |
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11.6 |
% |
| U.S. Services |
52,300 |
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|
10.7 |
% |
|
45,842 |
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10.4 |
% |
| Outside the U.S. |
25,141 |
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|
15.7 |
% |
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28,389 |
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14.8 |
% |
| Divestiture-related charges (2) |
1,018 |
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NM |
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— |
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NM |
| Other (3) |
2,881 |
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NM |
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572 |
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NM |
| Selling, general, and administrative expenses |
$ |
169,195 |
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|
12.7 |
% |
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$ |
146,452 |
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11.7 |
% |
| Operating income: |
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| U.S. Federal Services |
$ |
68,807 |
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10.2 |
% |
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$ |
51,045 |
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8.3 |
% |
| U.S. Services |
66,063 |
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13.5 |
% |
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37,756 |
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8.6 |
% |
| Outside the U.S. |
(112) |
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(0.1) |
% |
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10,066 |
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|
5.3 |
% |
| Amortization of intangible assets |
(23,349) |
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NM |
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(23,518) |
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|
NM |
| Divestiture-related charges (2) |
(1,018) |
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|
NM |
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— |
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NM |
| Other (3) |
(2,881) |
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NM |
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(572) |
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NM |
| Operating income |
$ |
107,510 |
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8.1 |
% |
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$ |
74,777 |
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6.0 |
% |
(1)Percentage of respective segment revenue. Percentages not considered meaningful are marked "NM."
(2)In November 2023, we sold our businesses in Italy and Singapore, as well as our employment services business in Canada, recording a loss of $1.0 million. We previously recorded an impairment charge of $2.9 million related to these assets.
(3)Other expenses includes credits and costs that are not allocated to a particular segment. This includes expenses incurred as part of our acquisitions, as well as potential acquisitions which have not been or may not be completed.
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