Editor’s note: This is part of a series of articles detailing how law firms fared financially in 2021, leading up to the Am Law 100 report on April 26 and the Am Law 200 report on May 24. The full collection is available here.

As Ice Miller came within a stone’s throw of grossing a quarter of a billion dollars in revenue last year, the Indianapolis-based Am Law 200 firm came away with another year of growing profits more than 20%, in spite of competitive pressures pushing up compensation for associates.