28. SEGMENT INFORMATION During the periods presented, the Company operated through three reporting segments: Global, North America and International. Global provides specialist brokerage and consulting services to clients worldwide for specific industrial and commercial activities and is organized by specialism. North America and International predominantly comprise our retail operations which provide services to small, medium and large corporations, accessing Global s specialist expertise when required. The Company evaluates the performance of its segments based on organic commissions and fees growth and operating income. For internal reporting and segmental reporting, the following items for which segmental management are not held accountable are excluded from segmental expenses: (i) foreign exchange hedging activities, foreign exchange movements on the UK pension plan asset, foreign exchange gains and losses from currency purchases and sales, and foreign exchange movements on internal exposures; (ii) amortization of intangible assets; (iii) gains and losses on the disposal of operations; (iv) significant legal and regulatory settlements which are managed centrally; (v) costs associated with the 2011 Operational Review; (vi) write-off of uncollectible accounts receivable balance and associated legal fees and insurance recoveries arising in Chicago due to fraudulent overstatement of commissions and fees; (vii) the additional incentive accrual recognized following the replacement of annual cash retention awards with annual cash bonuses which will not feature a repayment requirement; (viii) write-off of unamortized cash retention awards following the decision to eliminate repayment requirement on past awards; (ix) goodwill impairment charge; (x) fees related to the extinguishment of debt; and (xi) costs associated with the Expense Reduction Initiative. The accounting policies of the segments are consistent with those described in Note 2   'Basis of Presentation and Significant Accounting Policies'. There are no in