Quarterly Operating Results (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Operating Results (Unaudited)

NOTE 16 Quarterly Operating Results (Unaudited)

Quarterly operating results for 2020 and 2019 were as follows:

(in thousands, except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2020
Total revenues	$	698,495	$	598,806	$	673,962	$	642,111
Total expenses	$	493,242	$	469,405	$	515,434	$	511,195
Income before income taxes	$	205,253	$	129,401	$	158,528	$	130,916
Net income	$	152,400	$	96,784	$	133,979	$	97,320
Net income per share:
Basic	$	0.54	$	0.34	$	0.47	$	0.34
Diluted	$	0.54	$	0.34	$	0.47	$	0.34
2019
Total revenues	$	619,280	$	575,219	$	618,683	$	578,989
Total expenses	$	470,760	$	451,697	$	466,845	$	476,940
Income before income taxes	$	148,520	$	123,522	$	151,838	$	102,049
Net income	$	113,896	$	92,593	$	115,506	$	76,519
Net income per share:
Basic	$	0.41	$	0.33	$	0.41	$	0.27
Diluted	$	0.40	$	0.33	$	0.41	$	0.27

Quarterly financial results are affected by seasonal variations. The timing of insurance policy renewals sold by the Company and acquisitions may cause revenues, expenses, and net income to vary significantly between quarters.

The sum of the quarterly results may not equal year to date or year ended results due to rounding.