| SEGMENT INFORMATION |
SEGMENT INFORMATION Effective November 1, 2021, we reorganized our reportable segments to reflect our M&D industry group replacing our T&M industry group. Our current reportable segments consist of B&I, M&D, Education, Aviation, and Technical Solutions, as further described below. Refer to Note 2, “Basis of Presentation and Significant Accounting Policies,” for information related to our segment reorganization. | | | | | | | REPORTABLE SEGMENTS AND DESCRIPTIONS | B&I | B&I, our largest reportable segment, encompasses janitorial, facilities engineering, and parking services for commercial real estate properties (including corporate offices for high tech clients), sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers. | M&D | M&D provides integrated facility services, engineering, janitorial, and other specialized services in different types of manufacturing, distribution, and data center facilities. Manufacturing facilities include traditional motor vehicles, electric vehicles, batteries, pharmaceuticals, steel, semiconductors, chemicals, and many others. Distribution facilities include e-commerce, cold storage, logistics, general warehousing, and others. | Education | Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities. | Aviation | Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation. | Technical Solutions | Technical Solutions specializes in mechanical and electrical services (including electric vehicle charging station installation). These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally. |
Financial Information by Reportable Segment | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended July 31, | | Nine Months Ended July 31, | | (in millions) | 2022 | | 2021 | | 2022 | | 2021 | | Revenues | | | | | | | | | Business & Industry | $ | 1,033.8 | | | $ | 682.9 | | | $ | 3,067.0 | | | $ | 2,046.9 | | | Manufacturing & Distribution | 358.1 | | | 340.5 | | | 1,074.1 | | | 1,021.5 | | | Education | 207.5 | | | 207.0 | | | 617.6 | | | 627.8 | | | Aviation | 203.5 | | | 167.8 | | | 589.7 | | | 454.7 | | | Technical Solutions | 158.4 | | | 145.0 | | | 447.2 | | | 382.1 | | | | | | | | | | | $ | 1,961.4 | | | $ | 1,543.1 | | | $ | 5,795.5 | | | $ | 4,533.0 | | | Operating profit (loss) | | | | | | | | | Business & Industry | $ | 82.4 | | | $ | 71.6 | | | $ | 242.4 | | | $ | 216.4 | | | Manufacturing & Distribution | 38.0 | | | 38.7 | | | 120.6 | | | 118.5 | | | Education | 14.5 | | | 18.0 | | | 38.8 | | | 53.4 | | | Aviation | 9.5 | | | 10.0 | | | 28.0 | | | 18.9 | | Technical Solutions(1) | 15.4 | | | 14.4 | | | 42.8 | | | 30.6 | | | Government Services | 0.1 | | | — | | | (0.3) | | | (0.1) | | Corporate(2) | (70.3) | | | (161.1) | | | (200.6) | | | (284.5) | | | Adjustment for income from unconsolidated affiliates, included in Aviation and Technical Solutions | (0.8) | | | (0.5) | | | (1.8) | | | (1.4) | | | Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions | (0.1) | | | (0.5) | | | (0.3) | | | (1.1) | | | 88.7 | | | (9.4) | | | 269.7 | | | 150.6 | | | Income from unconsolidated affiliates | 0.8 | | | 0.5 | | | 1.8 | | | 1.4 | | | Interest expense | (11.1) | | | (6.3) | | | (25.2) | | | (22.6) | | | Income (loss) before income taxes | $ | 78.3 | | | $ | (15.2) | | | $ | 246.3 | | | $ | 129.4 | |
(1) Reflects a $7.6 million gain on the sale of assets during the nine months ended July 31, 2022. (2) Reflects litigation settlement expense for the Bucio case totaling $0.9 million during the nine months ended July 31, 2022, and $112.9 million and $142.9 million during the three and nine months ended July 31, 2021, respectively. The accounting policies for our segments are the same as those disclosed within our significant accounting policies in Note 2, “Basis of Presentation and Significant Accounting Policies.” Our management evaluates the performance of each reportable segment based on its respective operating profit results, which include the allocation of certain centrally incurred costs. Corporate expenses not allocated to segments include certain CEO and other finance and human resource departmental expenses, certain information technology costs, share-based compensation, certain legal costs and settlements, certain actuarial adjustments to self-insurance reserves, and acquisition and integration costs. Management does not review asset information by segment, therefore we do not present assets in this note.
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