The company said it completed its acquisition of NFP on April 25, 2024. The preliminary aggregate purchase price for the cash-and-stock merger was $9.1 billion, including approximately $3.2 billion to settle NFP indebtedness and cash consideration to selling shareholders.

10-QQuarterly reportFiled Jul 26, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said it completed its acquisition of NFP on April 25, 2024. The preliminary aggregate purchase price for the cash-and-stock merger was $9.1 billion, including approximately $3.2 billion to settle NFP indebtedness and cash consideration to selling shareholders.
The company said revenue for Q2 2024 rose $583 million (18%) to $3.8 billion, reflecting acquired revenue from NFP and 6% organic revenue growth. Operating margin was 17.4%, down from 26.5% in the prior year period, and adjusted operating margin was 27.4%.
The company said net income fell to $538 million in Q2 2024, a decrease of $37 million (6%). Diluted earnings per share were $2.46, compared with $2.71 in the prior year period. Adjusted diluted earnings per share were $2.93.
The company said cash flow from operating activities fell $309 million to $822 million in the first six months of 2024. It cited higher receivables, including from NFP, payments for transaction and integration costs, legal settlement expenses, restructuring, and higher cash taxes as factors. Free cash flow for the first six months was $721 million.

Key figures

Quarter ended June 30, 2024

Revenue: $3.8B
Operating income: $656M
Net income: $524M
EPS: $2.46

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

NFP Acquisition Completed and Purchase Consideration

The company said it completed its acquisition of NFP on April 25, 2024. The preliminary aggregate purchase price for the cash-and-stock merger was $9.1 billion, including approximately $3.2 billion to settle NFP indebtedness and cash consideration to selling shareholders.

Source · Based on the MD&A text of the filing

Q2 Revenue and Operating Margin

The company said revenue for Q2 2024 rose $583 million (18%) to $3.8 billion, reflecting acquired revenue from NFP and 6% organic revenue growth. Operating margin was 17.4%, down from 26.5% in the prior year period, and adjusted operating margin was 27.4%.

Source · Based on the MD&A text of the filing

Q2 Net Income and Earnings per Share

The company said net income fell to $538 million in Q2 2024, a decrease of $37 million (6%). Diluted earnings per share were $2.46, compared with $2.71 in the prior year period. Adjusted diluted earnings per share were $2.93.

Source · Based on the MD&A text of the filing

First-Half Operating Cash Flow and Free Cash Flow

The company said cash flow from operating activities fell $309 million to $822 million in the first six months of 2024. It cited higher receivables, including from NFP, payments for transaction and integration costs, legal settlement expenses, restructuring, and higher cash taxes as factors. Free cash flow for the first six months was $721 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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