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What the Firms Got to Keep
Chalking up huge revenue numbers means nothing if huge overhead strips out all the profit

Ranked by Net Operating Income

Rank '01 Firm Net Operating Income
1 Arnold & Porter $97,000,000
2 Skadden, Arps, Slate, Meagher & Flom $72,900,000
3 Hogan & Hartson $72,300,000
4 Crowell & Moring $72,100,000
5 Covington & Burling $69,700,000
6 McDermott, Will & Emery $61,000,000
7 Williams & Connolly $60,700,000
8 Dickstein Shapiro Morin & Oshinsky $59,800,000
9 Wilmer, Cutler & Pickering $59,600,000
10 Shaw Pittman $56,500,000
11 Morgan, Lewis & Bockius $51,400,000
12 Howrey Simon Arnold & White $51,000,000
13 Steptoe & Johnson $50,500,000
14 Latham & Watkins $50,000,000
15 Finnegan, Henderson, Farabow,Garrett & Dunner $45,000,000
16 Akin, Gump, Strauss, Hauer & Feld $41,000,000
17 Patton Boggs $40,000,000
  Swidler Berlin Shereff Friedman $40,000,000
19 Arent Fox Kintner Plotkin & Kahn $37,400,000
20 Jones, Day, Reavis & Pogue $37,000,000
Notes: Net operating income figures are rounded to the nearest $1,000,000. NOI is defined as total income for equity partners, including capital contributions withheld from distributions. The figures reflect NOI only in offices in the District of Columbia, Northern Virginia, and Maryland's Prince George's and Montgomery counties.
(Legal Times, June 2002)

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