XML 59 R42.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Summarized Financial Information Reportable Segments

Summarized financial information concerning the Company’s reportable segments is shown in the following table. The “Other” column includes any income and expenses not allocated to reportable segments and corporate-related items, including the intercompany interest expense charge to the reporting segment. In addition, the total assets balance in “Other” is negative, reflecting the historical accumulation of the purchase price for acquisitions which are funded at the Corporate level, net of a portion returned to Corporate through intercompany interest charges, as well as the historical accumulation of payments for income taxes, dividends, and share repurchases which are paid by Corporate, but not pushed down to the segments.

 

 

 

Year Ended December 31, 2020

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,472,766

 

 

$

610,640

 

 

$

352,797

 

 

$

174,012

 

 

$

3,160

 

 

$

2,613,375

 

Investment income

 

$

163

 

 

$

756

 

 

$

184

 

 

$

—

 

 

$

1,708

 

 

$

2,811

 

Amortization

 

$

67,315

 

 

$

27,166

 

 

$

8,481

 

 

$

5,561

 

 

$

—

 

 

$

108,523

 

Depreciation

 

$

9,071

 

 

$

8,658

 

 

$

1,948

 

 

$

1,424

 

 

$

5,175

 

 

$

26,276

 

Interest expense

 

$

85,968

 

 

$

20,597

 

 

$

10,281

 

 

$

4,142

 

 

$

(62,015

)

 

$

58,973

 

Income before income taxes

 

$

262,245

 

 

$

182,892

 

 

$

93,593

 

 

$

27,994

 

 

$

57,375

 

 

$

624,099

 

Total assets

 

$

7,093,627

 

 

$

3,510,983

 

 

$

1,791,717

 

 

$

480,440

 

 

$

(3,910,275

)

 

$

8,966,492

 

Capital expenditures

 

$

13,175

 

 

$

7,208

 

 

$

3,324

 

 

$

1,424

 

 

$

45,569

 

 

$

70,700

 

 

 

 

Year Ended December 31, 2019

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,367,261

 

 

$

518,384

 

 

$

310,087

 

 

$

193,781

 

 

$

2,658

 

 

$

2,392,171

 

Investment income

 

$

149

 

 

$

1,397

 

 

$

178

 

 

$

139

 

 

$

3,917

 

 

$

5,780

 

Amortization

 

$

63,146

 

 

$

25,482

 

 

$

11,191

 

 

$

5,479

 

 

$

—

 

 

$

105,298

 

Depreciation

 

$

7,390

 

 

$

6,791

 

 

$

1,674

 

 

$

1,229

 

 

$

6,333

 

 

$

23,417

 

Interest expense

 

$

87,295

 

 

$

16,690

 

 

$

4,756

 

 

$

4,404

 

 

$

(49,485

)

 

$

63,660

 

Income before income taxes

 

$

222,875

 

 

$

143,737

 

 

$

82,739

 

 

$

40,337

 

 

$

36,241

 

 

$

525,929

 

Total assets

 

$

6,413,459

 

 

$

3,110,368

 

 

$

1,390,250

 

 

$

481,336

 

 

$

(3,772,592

)

 

$

7,622,821

 

Capital expenditures

 

$

12,497

 

 

$

10,365

 

 

$

6,171

 

 

$

804

 

 

$

43,271

 

 

$

73,108

 

 

 

 

Year Ended December 31, 2018

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,042,763

 

 

$

494,463

 

 

$

287,014

 

 

$

189,246

 

 

$

760

 

 

$

2,014,246

 

Investment income

 

$

2

 

 

$

506

 

 

$

165

 

 

$

205

 

 

$

1,868

 

 

$

2,746

 

Amortization

 

$

44,386

 

 

$

25,954

 

 

$

11,391

 

 

$

4,813

 

 

$

—

 

 

$

86,544

 

Depreciation

 

$

5,289

 

 

$

5,486

 

 

$

1,628

 

 

$

1,558

 

 

$

8,873

 

 

$

22,834

 

Interest expense

 

$

35,969

 

 

$

26,181

 

 

$

5,254

 

 

$

2,869

 

 

$

(29,693

)

 

$

40,580

 

Income before income taxes

 

$

217,845

 

 

$

117,375

 

 

$

70,171

 

 

$

34,508

 

 

$

22,563

 

 

$

462,462

 

Total assets

 

$

5,850,045

 

 

$

2,940,097

 

 

$

1,283,877

 

 

$

471,572

 

 

$

(3,856,923

)

 

$

6,688,668

 

Capital expenditures

 

$

6,858

 

 

$

12,391

 

 

$

2,518

 

 

$

1,525

 

 

$

18,228

 

 

$

41,520