For the second year in a row, Latham & Watkins holds the top position on our gross revenue rankings. DLA Piper is in second place, switching positions with Baker & McKenzie, which is in third. Other top 10 firms that rose in the rankings were Sidley Austin, which went from ninth to seventh place, and Morgan, Lewis & Bockius, which moved from position 12 to eight.
Twenty-seven firms posted gross revenue of $1 billion or more in 2015, the same number of firms as in 2014. Seventy-eight firms had gains in gross revenue. Morgan, Lewis & Bockius and Locke Lord had the biggest gains, 40 percent each. Hughes Hubbard & Reed had the steepest decline, 8.2 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 our guide to methodology.