Segment Information and Revenues (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Schedule of Information on Reportable Segments for Reconciliation to Consolidated Net Income

Information on reportable segments currently presented to our chief operating decision maker and a reconciliation to consolidated net income (loss) are presented below (in thousands):

	Three months ended March 31,
	2021		2020
Revenue:
Wealth Management	$	154,491	$	144,989
Tax Software	123,892		118,331
Total revenue	278,383		263,320
Operating income (loss):
Wealth Management	19,396		22,598
Tax Software	50,888		37,753
Corporate-level activity	(33,055)		(302,190)
Total operating income (loss)	37,229		(241,839)
Other loss, net	(7,883)		(6,135)
Income tax expense	(1,700)		(67,520)
Net income (loss)	$	27,646	$	(315,494)

Schedule of Segment Reporting Information, by Segment

Revenues by major category within each segment are presented below (in thousands):

	Three months ended March 31,
	2021		2020
Wealth Management:
Advisory	$	91,119	$	78,757
Commission	52,534		50,580
Asset-based	5,329		10,579
Transaction and fee	5,509		5,073
Total Wealth Management revenue	$	154,491	$	144,989
Tax Software:
Consumer	$	110,567	$	103,821
Professional	13,325		14,510
Total Tax Software revenue	$	123,892	$	118,331

Schedule of Disaggregation of Revenue

The timing of Wealth Management revenue recognition was as follows (in thousands):

	Three months ended March 31,
	2021						2020
	Recognized Upon Transaction		Recognized Over Time		Total		Recognized Upon Transaction		Recognized Over Time		Total
Advisory revenue	$	—	$	91,119	$	91,119	$	—	$	78,757	$	78,757
Commission revenue	22,367		30,167		52,534		23,381		27,199		50,580
Asset-based revenue	—		5,329		5,329		—		10,579		10,579
Transaction and fee revenue	1,374		4,135		5,509		1,859		3,214		5,073
Total Wealth Management revenue	$	23,741	$	130,750	$	154,491	$	25,240	$	119,749	$	144,989

The timing of Tax Software revenue recognition was as follows (in thousands):

	Three months ended March 31,
	2021						2020
	Recognized Upon Transaction		Recognized Over Time		Total		Recognized Upon Transaction		Recognized Over Time		Total
Consumer revenue	$	110,567	$	—	$	110,567	$	103,821	$	—	$	103,821
Professional revenue	12,127		1,198		13,325		12,994		1,516		14,510
Total Tax Software revenue	$	122,694	$	1,198	$	123,892	$	116,815	$	1,516	$	118,331