Subsequent Event (Tables)

6 Months Ended

Jun. 30, 2013

2013 Acquisitions [Member]

Acquisitions Accounted for as Business Combinations

The following table summarizes the aggregate purchase price allocations made as of the date of each acquisition for current year acquisitions and adjustments made during the measurement period for prior year acquisitions:

(in thousands)
Name	Business Segment	Date of Acquisition	Cash Paid		Other Payable			Recorded Earn-Out Payable			Net  Assets Acquired			Maximum Potential  Earn- Out Payable
Arrowhead General Insurance Agency Superholding Corporation	National Programs; Services	January 9, 2012	$	—	$	(454	)	$	—		$	(454	)	$	—
Insurcorp & GGM Investments LLC	Retail	May 1, 2012		—		—			(834	)		(834	)		—
Richard W. Endlar Insurance Agency, Inc.	Retail	May 1, 2012		—		—			220			220			—
Texas Security General Insurance Agency, Inc.	Wholesale Brokerage	September 1, 2012		—		—			(107	)		(107	)		—
The Rollins Agency, Inc.	Retail	June 1, 2013		13,792		50			2,256			16,098			4,300
Other	Various	Various		592		35			298			925			448
Total			$	14,384	$	(369	)	$	1,833		$	15,848		$	4,748

Results of Operations

These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.

(UNAUDITED)	For the three months ended June 30,				For the six months ended June 30,
(in thousands, except per share data)	2013		2012		2013		2012
Total revenues	$	326,753	$	292,242	$	663,460	$	596,931
Income before income taxes		86,506		71,528		186,503		154,953
Net income		52,179		42,700		112,616		92,511
Net income per share:
Basic	$	0.36	$	0.30	$	0.78	$	0.65
Diluted	$	0.36	$	0.29	$	0.77	$	0.63
Weighted average number of shares outstanding:
Basic		140,836		139,086		140,816		139,044
Diluted		143,021		141,828		142,938		141,664

2012 Acquisitions [Member]

Acquisitions Accounted for as Business Combinations

The acquisition made during the six months ended June 30, 2012 have been accounted for as business combinations and were as follows:

(in thousands)
Name	Business Segment		2012 Date of Acquisition		Cash Paid		Note Payable		Other Payable		Recorded Earn-Out Payable		Net Assets Acquired		Maximum Potential Earn-Out Payable
Arrowhead General Insurance Agency Superholding Corporation		National Programs; Services		January 9	$	397,531	$	—	$	22,694	$	3,634	$	423,859	$	5,000
Insurcorp & GGM Investments LLC (d/b/a Maalouf Benefit Resources)		Retail		May 1		15,500		—		900		4,932		21,332		17,000
Other		Various		Various		15,581		59		—		4,353		19,993		10,235
Total					$	428,612	$	59	$	23,594	$	12,919	$	465,184	$	32,235

Results of Operations

These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the acquisitions actually been made at the beginning of the respective periods.

(UNAUDITED)	For the three  months ended June 30,				For the six  months ended June 30,
(in thousands, except per share data)	2012		2011		2012		2011
Total revenues	$	291,763	$	277,522	$	599,965	$	570,176
Income before income taxes		71,473		70,022		156,202		155,203
Net income		42,667		42,189		93,257		93,622
Net income per share:
Basic	$	0.30	$	0.30	$	0.65	$	0.66
Diluted	$	0.29	$	0.29	$	0.64	$	0.64
Weighted average number of shares outstanding:
Basic		139,086		138,379		139,044		138,365
Diluted		141,828		139,942		141,664		140,950

Subsequent Event [Member] | Beecher [Member]

Acquisitions Accounted for as Business Combinations

The Beecher acquisition will be accounted for as business combination as follows:

(in thousands)
Name	2013 Date of Acquisition		Cash Paid		Recorded Earn-out Payable		Net Assets Acquired		Maximum Potential Earn-out Payable
Beecher		July 1	$	364,644	$	—	$	364,644	$	—

Results of Operations

These unaudited pro forma results are not necessarily indicative of the actual results of operations that would have occurred had the Beecher acquisition actually been made as of January 1, 2013.

(UNAUDITED)	For the three months ended June 30, 2013		For the six months ended June 30, 2013
(in thousands, except per share data)
Total revenues	$	354,873	$	718,966
Income before income taxes	$	90,152	$	193,575
Net income	$	54,382	$	116,887
Net income per share:
Basic	$	0.38	$	0.81
Diluted	$	0.37	$	0.80
Weighted average number of shares outstanding:
Basic		140,836		140,816
Diluted		143,021		142,938

Estimated Fair Values of Aggregate Assets and Liabilities Acquired

The following table summarizes the preliminary estimated fair values of Beecher’s aggregate assets and liabilities acquired:

(in thousands)	Beecher
Cash	$	40,361
Other current assets		44,433
Fixed assets		1,786
Goodwill		264,972
Purchased customer accounts		99,017
Non-compete agreements		2,913
Other assets		933
Total assets acquired		454,475
Other current liabilities		(72,949	)
Deferred income taxes, net		(14,288	)
Other liabilities		(2,594	)
Total liabilities assumed		(89,831	)
Net assets acquired	$	364,644