This year Latham & Watkins tops our chart for the first time, switching places with DLA Piper, which fell to third. Baker & McKenzie remains in second place. The only other change in the top 16 firms involved Jones Day and Norton Rose Fulbright, which switched sixth and seventh places.

Twenty-seven firms posted gross revenue of $1 billion or more in 2014, up from 23 in 2013. Eighty firms reported gains in gross revenue. Two Silicon Valley firms, Fenwick & West and Cooley, posted the biggest gains at 19.1 and 19.0 percent, respectively. Bingham McCutchen, which ceased operations in late 2014, had the steepest decline, 12.7 percent.

Gross revenue figures on this chart are rounded to the nearest $500,000. Firms that are tied are listed alphabetically. For more details, see “ A Guide to Our Methodology.”