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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Summarized Financial Information Reportable Segments

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. The “Other” column includes any income and expenses not allocated to reportable segments, corporate-related items, including the intercompany interest expense charge to the reporting segment.

 

 

 

Three months ended September 30, 2020

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

359,473

 

 

$

168,018

 

 

$

101,239

 

 

$

43,497

 

 

$

1,735

 

 

$

673,962

 

Investment income

 

$

19

 

 

$

205

 

 

$

45

 

 

$

-

 

 

$

80

 

 

$

349

 

Amortization

 

$

16,624

 

 

$

7,100

 

 

$

1,945

 

 

$

1,390

 

 

$

—

 

 

$

27,059

 

Depreciation

 

$

2,347

 

 

$

2,300

 

 

$

548

 

 

$

355

 

 

$

1,097

 

 

$

6,647

 

Interest expense

 

$

20,519

 

 

$

5,335

 

 

$

2,488

 

 

$

1,004

 

 

$

(16,112

)

 

$

13,234

 

Income before income taxes

 

$

56,057

 

 

$

47,171

 

 

$

35,038

 

 

$

6,041

 

 

$

14,221

 

 

$

158,528

 

Total assets

 

$

6,583,606

 

 

$

3,530,345

 

 

$

1,646,287

 

 

$

467,889

 

 

$

(3,432,748

)

 

$

8,795,379

 

Capital expenditures

 

$

5,232

 

 

$

2,203

 

 

$

1,170

 

 

$

584

 

 

$

10,693

 

 

$

19,882

 

 

 

 

Three months ended September 30, 2019

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

337,712

 

 

$

142,854

 

 

$

87,109

 

 

$

50,106

 

 

$

902

 

 

$

618,683

 

Investment income

 

$

28

 

 

$

375

 

 

$

48

 

 

$

35

 

 

$

1,182

 

 

$

1,668

 

Amortization

 

$

15,821

 

 

$

6,264

 

 

$

2,797

 

 

$

1,390

 

 

$

—

 

 

$

26,272

 

Depreciation

 

$

1,897

 

 

$

1,779

 

 

$

422

 

 

$

315

 

 

$

1,402

 

 

$

5,815

 

Interest expense

 

$

22,287

 

 

$

3,557

 

 

$

1,105

 

 

$

1,164

 

 

$

(11,799

)

 

$

16,314

 

Income before income taxes

 

$

51,133

 

 

$

46,629

 

 

$

28,908

 

 

$

14,775

 

 

$

10,393

 

 

$

151,838

 

Total assets

 

$

6,155,670

 

 

$

3,315,656

 

 

$

1,406,709

 

 

$

469,292

 

 

$

(3,666,663

)

 

$

7,680,664

 

Capital expenditures

 

$

2,266

 

 

$

1,276

 

 

$

768

 

 

$

209

 

 

$

7,665

 

 

$

12,184

 

 

 

 

Nine months ended September 30, 2020

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,119,524

 

 

$

451,098

 

 

$

267,790

 

 

$

130,879

 

 

$

1,973

 

 

$

1,971,264

 

Investment income

 

$

143

 

 

$

597

 

 

$

141

 

 

$

-

 

 

$

963

 

 

$

1,844

 

Amortization

 

$

49,363

 

 

$

20,331

 

 

$

6,326

 

 

$

4,170

 

 

$

—

 

 

$

80,190

 

Depreciation

 

$

6,530

 

 

$

6,298

 

 

$

1,446

 

 

$

1,059

 

 

$

3,503

 

 

$

18,836

 

Interest expense

 

$

63,620

 

 

$

15,212

 

 

$

6,793

 

 

$

3,137

 

 

$

(46,428

)

 

$

42,334

 

Income before income taxes

 

$

221,549

 

 

$

125,160

 

 

$

77,432

 

 

$

22,557

 

 

$

46,485

 

 

$

493,183

 

Total assets

 

$

6,583,606

 

 

$

3,530,345

 

 

$

1,646,287

 

 

$

467,889

 

 

$

(3,432,748

)

 

$

8,795,379

 

Capital expenditures

 

$

10,959

 

 

$

5,248

 

 

$

2,952

 

 

$

1,057

 

 

$

35,604

 

 

$

55,820

 

 

 

 

 

Nine months ended September 30, 2019

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,037,681

 

 

$

384,231

 

 

$

238,789

 

 

$

150,395

 

 

$

2,086

 

 

$

1,813,182

 

Investment income

 

$

45

 

 

$

1,071

 

 

$

131

 

 

$

117

 

 

$

2,910

 

 

$

4,274

 

Amortization

 

$

46,622

 

 

$

19,217

 

 

$

8,490

 

 

$

4,089

 

 

$

—

 

 

$

78,418

 

Depreciation

 

$

5,440

 

 

$

4,990

 

 

$

1,251

 

 

$

902

 

 

$

4,933

 

 

$

17,516

 

Interest expense

 

$

64,641

 

 

$

13,134

 

 

$

3,692

 

 

$

3,239

 

 

$

(36,901

)

 

$

47,805

 

Income before income taxes

 

$

189,191

 

 

$

106,188

 

 

$

67,421

 

 

$

33,220

 

 

$

27,860

 

 

$

423,880

 

Total assets

 

$

6,155,670

 

 

$

3,315,656

 

 

$

1,406,709

 

 

$

469,292

 

 

$

(3,666,663

)

 

$

7,680,664

 

Capital expenditures

 

$

7,810

 

 

$

7,786

 

 

$

2,470

 

 

$

540

 

 

$

28,752

 

 

$

47,358