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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2021
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 June 30, 2021

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

401,099

 

 

$

176,274

 

 

$

104,591

 

 

$

44,887

 

 

$

501

 

 

$

727,352

 

Investment income

 

$

17

 

 

$

134

 

 

$

44

 

 

$

—

 

 

$

34

 

 

$

229

 

Amortization

 

$

19,002

 

 

$

6,862

 

 

$

2,364

 

 

$

1,318

 

 

$

—

 

 

$

29,546

 

Depreciation

 

$

2,805

 

 

$

2,364

 

 

$

680

 

 

$

364

 

 

$

2,588

 

 

$

8,801

 

Interest expense

 

$

22,604

 

 

$

2,869

 

 

$

4,051

 

 

$

718

 

 

$

(13,957

)

 

$

16,285

 

Income before income taxes

 

$

70,481

 

 

$

66,716

 

 

$

26,392

 

 

$

7,665

 

 

$

15,055

 

 

$

186,309

 

Total assets

 

$

7,393,285

 

 

$

3,570,836

 

 

$

1,844,315

 

 

$

447,265

 

 

$

(3,897,806

)

 

$

9,357,895

 

Capital expenditures

 

$

1,371

 

 

$

3,652

 

 

$

612

 

 

$

352

 

 

$

7,730

 

 

$

13,717

 

 

 

 

 

Three months ended June 30, 2020

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

312,562

 

 

$

154,667

 

 

$

88,853

 

 

$

42,930

 

 

$

(206

)

 

$

598,806

 

Investment income

 

$

41

 

 

$

129

 

 

$

46

 

 

$

—

 

 

$

117

 

 

$

333

 

Amortization

 

$

16,453

 

 

$

6,866

 

 

$

2,032

 

 

$

1,390

 

 

$

—

 

 

$

26,741

 

Depreciation

 

$

2,147

 

 

$

2,093

 

 

$

467

 

 

$

353

 

 

$

1,108

 

 

$

6,168

 

Interest expense

 

$

21,303

 

 

$

5,195

 

 

$

2,594

 

 

$

1,042

 

 

$

(16,325

)

 

$

13,809

 

Income before income taxes

 

$

36,829

 

 

$

48,344

 

 

$

24,708

 

 

$

6,436

 

 

$

13,084

 

 

$

129,401

 

Total assets

 

$

6,487,850

 

 

$

3,398,709

 

 

$

1,574,931

 

 

$

464,905

 

 

$

(3,725,337

)

 

$

8,201,058

 

Capital expenditures

 

$

3,228

 

 

$

1,532

 

 

$

555

 

 

$

206

 

 

$

13,959

 

 

$

19,480

 

 

 

 

Six months ended June 30, 2021

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

924,014

 

 

$

331,167

 

 

$

195,466

 

 

$

91,861

 

 

$

120

 

 

$

1,542,628

 

Investment income

 

$

35

 

 

$

286

 

 

$

85

 

 

$

3

 

 

$

70

 

 

$

479

 

Amortization

 

$

37,835

 

 

$

13,737

 

 

$

4,761

 

 

$

2,706

 

 

$

—

 

 

$

59,039

 

Depreciation

 

$

5,563

 

 

$

4,511

 

 

$

1,324

 

 

$

745

 

 

$

4,114

 

 

$

16,257

 

Interest expense

 

$

45,224

 

 

$

6,997

 

 

$

8,304

 

 

$

1,539

 

 

$

(29,438

)

 

$

32,626

 

Income before income taxes

 

$

221,704

 

 

$

107,864

 

 

$

45,173

 

 

$

16,922

 

 

$

33,852

 

 

$

425,515

 

Total assets

 

$

7,393,285

 

 

$

3,570,836

 

 

$

1,844,315

 

 

$

447,265

 

 

$

(3,897,806

)

 

$

9,357,895

 

Capital expenditures

 

$

3,687

 

 

$

6,653

 

 

$

1,101

 

 

$

509

 

 

$

13,192

 

 

$

25,142

 

 

 

 

 

Six months ended June 30, 2020

 

(in thousands)

 

Retail

 

 

National

Programs

 

 

Wholesale

Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

760,051

 

 

$

283,080

 

 

$

166,551

 

 

$

87,382

 

 

$

238

 

 

$

1,297,302

 

Investment income

 

$

124

 

 

$

392

 

 

$

97

 

 

$

—

 

 

$

882

 

 

$

1,495

 

Amortization

 

$

32,740

 

 

$

13,231

 

 

$

4,381

 

 

$

2,780

 

 

$

—

 

 

$

53,132

 

Depreciation

 

$

4,183

 

 

$

3,998

 

 

$

898

 

 

$

704

 

 

$

2,406

 

 

$

12,189

 

Interest expense

 

$

43,101

 

 

$

9,877

 

 

$

4,305

 

 

$

2,133

 

 

$

(30,316

)

 

$

29,100

 

Income before income taxes

 

$

165,491

 

 

$

77,990

 

 

$

42,394

 

 

$

16,516

 

 

$

32,264

 

 

$

334,655

 

Total assets

 

$

6,487,850

 

 

$

3,398,709

 

 

$

1,574,931

 

 

$

464,905

 

 

$

(3,725,337

)

 

$

8,201,058

 

Capital expenditures

 

$

5,727

 

 

$

3,045

 

 

$

1,782

 

 

$

473

 

 

$

24,911

 

 

$

35,938