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The Am Law Second Hundred includes firms 101 through 200 on our list of the nation’s highest-grossing law firms. Staff members at ALM’s publications throughout the United States, including The American Lawyer, The Connecticut Law Tribune, Daily Business Review (Miami), Fulton County Daily Report (Atlanta), The Legal Intelligencer (Philadelphia), Legal Times (Washington, D.C.), New Jersey Law Journal, New York Law Journal, The Recorder (San Francisco), and Texas Lawyer contributed to this report. Most law firms provide their financials voluntarily. Some refuse to cooperate, so we call partners and calculate revenue and profits. But all data is investigated by our reporters. In the event an error in reporting is discovered, we will correct the numbers and base the percentage changes in future years on restated numbers. Revenue and other figures from 2003 are not included for firms that are new to the list this year. This is noted with “N/A.” WHAT WE PUBLISH Gross Revenue is fee income from legal work only. It does not include disbursements or income from nonlegal ancillary businesses. In all cases, the revenue and profit figures we list are for the firm’s most recently completed fiscal year. Most Am Law Second Hundred firms are on a calendar fiscal year. Net is compensation paid to equity partners. Equity Partners are those who file a Schedule K-1 tax form and receive no more than half their compensation on a fixed-income basis. Nonequity Partners are those who receive more than half their compensation on a fixed basis. Total Full-Time Equivalent Lawyers for firms whose fiscal year ends after Aug. 31, 2004, are provided as of that date. If the firm’s fiscal year ended between March 31 and Aug. 31, 2004, we ask for the head count at the end of the firm’s fiscal year. To ensure that profits per partner and leverage data are consistent, partners without equity shares in the firm’s profits (or who do not have more than a partial equity share in the firm’s profits) are not counted as partners. Similarly, retired partners and of counsel are not counted as partners, nor are payments made to them counted in net operating income. HOW WE CRUNCH THE NUMBERS Revenue per Lawyer is calculated by dividing the gross revenue by the number of lawyers. Profits per Partner are calculated by dividing net operating income by number of equity partners. Compensation-All Partners is calculated by adding per-partner profits to compensation paid to nonequity partners. Average Compensation-All Partners is the net operating income plus compensation to nonequity partners divided by the number of equity and nonequity partners. Value per Lawyer is a new metric we added this year. It is calculated by dividing the compensation-all partners by the total number of lawyers. We then divided that figure by $10 million to see how many lawyers it takes to generate that amount. Profitability Index includes leverage, which is the ratio of all lawyers to equity partners, and profit margin, which is the ratio of net income to gross revenue multiplied by 100. It also can be obtained by dividing profits per partner by revenue per lawyer. OUR CONVENTIONS Firm Names: On the poster and the A to Z chart, firm names are spelled out in their long form, and firm mergers that took effect in 2005 are noted. On all other charts we publish shortened firm names. Rounding: We round gross revenue and net to the nearest $500,000. Profits per partner, revenue per lawyer and average compensation-all partners are rounded to the nearest $5,000. Ties: Firms that are tied in the rankings are listed in alphabetical order.Asterisks (*) are used to denote firms with more than one partnership tier. HOW WE DESIGNATE LOCATION Location of Firms: We identify some firms as “national,” rather than identifying them by city, based on the percentage of the firm’s attorneys who work in various regions of the country. Those breakouts are obtained from the most recent NLJ 250 survey. If 40 percent or more of the firm’s lawyers were located outside the U.S., we identify the firm as international. If no more than 45 percent of the firm’s attorneys were located in any one region of the country, we identify the firm as national. Designation of Regions and Markets: We use the following classifications for identifying the geographical concentration of a firm’s offices and attorneys: � New England: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont � New York City � Mid-Atlantic: Delaware, Maryland, New Jersey, New York State (excluding New York City), Northern Virginia, Pennsylvania � Washington, D.C. � South and Southeast: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Southern Virginia, Tennessee, West Virginia � Midwest: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin � West and Southwest: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Oklahoma, Texas, Utah, Wyoming � West Coast/Pacific Rim: Alaska, California, Hawaii, Oregon, Washington State

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