XML 29 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Professional service revenues $ 108,642 $ 109,593 $ 228,763 $ 221,996
Insurance service revenues 691,899 636,253 1,379,388 1,256,789
Total revenues 800,541 745,846 1,608,151 1,478,785
Costs and operating expenses:        
Insurance costs 599,535 596,673 1,208,177 1,166,362
Cost of providing services (exclusive of depreciation and amortization of intangible assets) 50,825 44,034 107,275 89,739
Sales and marketing 45,940 43,800 95,131 92,508
General and administrative 28,224 18,951 53,526 46,601
Systems development and programming costs 11,415 6,457 22,455 12,846
Amortization of intangible assets 1,316 5,005 2,666 9,985
Depreciation 6,451 4,559 12,599 8,475
Total costs and operating expenses 743,706 719,479 1,501,829 1,426,516
Operating income 56,835 26,367 106,322 52,269
Other income (expense):        
Interest expense and bank fees (4,857) (5,038) (9,605) (10,080)
Other, net 271 163 422 121
Income before provision for income taxes 52,249 21,492 97,139 42,310
Income tax expense 12,298 9,210 28,451 18,451
Net income 39,951 12,282 68,688 23,859
Other comprehensive income, net of tax 68 74 80 425
Comprehensive income $ 40,019 $ 12,356 $ 68,768 $ 24,284
Net income per share:        
Basic (in dollars per share) $ 0.58 $ 0.17 $ 1.00 $ 0.34
Diluted (in dollars per share) $ 0.56 $ 0.17 $ 0.97 $ 0.33
Weighted average shares:        
Basic (in shares) 69,029,749 70,728,934 68,770,976 70,625,000
Diluted (in shares) 71,167,177 72,319,992 71,101,716 72,022,065