Quarterly report [Sections 13 or 15(d)]

Segment Information (Tables)

v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Summary of Profitability Measure and Significant Segment Expenses
Provided below is the Company’s segment profitability measure and significant segment expenses.

Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
Net revenues
 $ 382  $ 396  $ 1,095  $ 1,067 
Less expenses (a)
Compensation
 (50) (63) (179) (191)
Selling and advertising
 (28) (37) (74) (106)
Outsourced services and information technology (b)
(32) (32) (97) (93)
Professional fees
 (25) (24) (72) (65)
Other segment items (c)
(49) (46) (168) (141)
Corporate expenses (d)
(93) (92) (252) (267)
Consolidated net income
 $ 105  $ 102  $ 253  $ 204 
_____________________
(a)    The significant expense categories and amounts align with the segment-level information that is regularly provided to the Company’s CODM.
(b)    Information technology costs primarily include maintenance costs and software as a service cost.
(c)    Other segment items include depreciation and amortization, stock-based compensation, restructuring costs, impairment charge, cost reimbursements, travel and entertainment, insurance and other operating expenses. The nine months ended September 30, 2025 also include pass-through expenses associated with the Company's global franchisee conference.
(d)    Corporate expenses include interest expense, net, transaction and separation-related expenses, provision for income taxes, early extinguishment of debt, compensation costs, and other overhead costs.