The 20% of our business is more discretionary. The discretionary revenues include things like project work, in-risk consulting, transaction liability, human capital consulting, our travel and events business. And so much of this actually recurs and renews each year. It just may have the opportunity to be deferred slightly, which is what we did see in Q1 in our retirement and data analytics businesses.

May 1, 2020 / CEO / receipt, needs a key / Eric (Eric B. - CEO), CEO | earnings call 2020-05-01 | transcript 534965d3-c1f7-43a5-9089-43dd7f6f250b | chars 47059-47463 | segment 49