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Segment Disclosures (Tables)
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Summary of Segment Information

Segment information for the three and six months ended June 30, 2018 and 2017 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below.

 

 

 

Three Months Ended June 30, 2018

 

 

 

Financial

Services

 

 

Benefits and Insurance Services

 

 

National

Practices

 

 

Corporate

and

Other

 

 

Total

 

Revenue

 

$

151,737

 

 

$

72,753

 

 

$

8,151

 

 

$

 

 

$

232,641

 

Operating expenses

 

 

129,070

 

 

 

61,165

 

 

 

7,567

 

 

 

7,300

 

 

 

205,102

 

Gross margin

 

 

22,667

 

 

 

11,588

 

 

 

584

 

 

 

(7,300

)

 

 

27,539

 

Corporate general & admin

 

 

 

 

 

 

 

 

 

 

 

9,993

 

 

 

9,993

 

Operating income (loss)

 

 

22,667

 

 

 

11,588

 

 

 

584

 

 

 

(17,293

)

 

 

17,546

 

Other (expense) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(15

)

 

 

 

 

 

(1,802

)

 

 

(1,817

)

Other (expense) income, net

 

 

(17

)

 

 

30

 

 

 

 

 

 

617

 

 

 

630

 

Total other (expense) income

 

 

(17

)

 

 

15

 

 

 

 

 

 

(1,185

)

 

 

(1,187

)

Income (loss) from continuing operations before

   income tax expense

 

$

22,650

 

 

$

11,603

 

 

$

584

 

 

$

(18,478

)

 

$

16,359

 

 

 

 

 

Three Months Ended June 30, 2017

 

 

 

Financial

Services

 

 

Benefits and Insurance Services

 

 

National

Practices

 

 

Corporate

and

Other

 

 

Total

 

Revenue

 

$

132,591

 

 

$

70,559

 

 

$

7,866

 

 

$

 

 

$

211,016

 

Operating expenses

 

 

115,851

 

 

 

59,877

 

 

 

7,235

 

 

 

5,157

 

 

 

188,120

 

Gross margin

 

 

16,740

 

 

 

10,682

 

 

 

631

 

 

 

(5,157

)

 

 

22,896

 

Corporate general & admin

 

 

 

 

 

 

 

 

 

 

 

9,232

 

 

 

9,232

 

Operating income (loss)

 

 

16,740

 

 

 

10,682

 

 

 

631

 

 

 

(14,389

)

 

 

13,664

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(9

)

 

 

 

 

 

(1,683

)

 

 

(1,692

)

Gain on sale of operations, net

 

 

 

 

 

 

 

 

 

 

 

23

 

 

 

23

 

Other income (expense), net

 

 

28

 

 

 

120

 

 

 

(9

)

 

 

3,625

 

 

 

3,764

 

Total other income (expense)

 

 

28

 

 

 

111

 

 

 

(9

)

 

 

1,965

 

 

 

2,095

 

Income (loss) from continuing operations before

   income tax expense

 

$

16,768

 

 

$

10,793

 

 

$

622

 

 

$

(12,424

)

 

$

15,759

 

 

Segment information for the six months ended June 30, 2018 and 2017 was as follows (in thousands):

 

 

 

Six Months Ended June 30, 2018

 

 

 

Financial

Services

 

 

Benefits and Insurance Services

 

 

National

Practices

 

 

Corporate

and

Other

 

 

Total

 

Revenue

 

$

332,340

 

 

$

150,083

 

 

$

16,308

 

 

$

 

 

$

498,731

 

Operating expenses

 

 

262,103

 

 

 

122,298

 

 

 

14,842

 

 

 

10,609

 

 

 

409,852

 

Gross margin

 

 

70,237

 

 

 

27,785

 

 

 

1,466

 

 

 

(10,609

)

 

 

88,879

 

Corporate general & admin

 

 

 

 

 

 

 

 

 

 

 

20,021

 

 

 

20,021

 

Operating income (loss)

 

 

70,237

 

 

 

27,785

 

 

 

1,466

 

 

 

(30,630

)

 

 

68,858

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(89

)

 

 

 

 

 

(3,508

)

 

 

(3,597

)

Gain on sale of operations, net

 

 

 

 

 

 

 

 

 

 

 

663

 

 

 

663

 

Other income (expense), net

 

 

248

 

 

 

222

 

 

 

 

 

 

(1,069

)

 

 

(599

)

Total other income (expense)

 

 

248

 

 

 

133

 

 

 

 

 

 

(3,914

)

 

 

(3,533

)

Income (loss) from continuing operations before

   income tax expense

 

$

70,485

 

 

$

27,918

 

 

$

1,466

 

 

$

(34,544

)

 

$

65,325

 

 

 

 

Six Months Ended June 30, 2017

 

 

 

Financial

Services

 

 

Benefits and Insurance Services

 

 

National

Practices

 

 

Corporate

and

Other

 

 

Total

 

Revenue

 

$

291,224

 

 

$

145,723

 

 

$

15,528

 

 

$

 

 

$

452,475

 

Operating expenses

 

 

235,240

 

 

 

120,019

 

 

 

14,242

 

 

 

11,385

 

 

 

380,886

 

Gross margin

 

 

55,984

 

 

 

25,704

 

 

 

1,286

 

 

 

(11,385

)

 

 

71,589

 

Corporate general & admin

 

 

 

 

 

 

 

 

 

 

 

18,000

 

 

 

18,000

 

Operating income (loss)

 

 

55,984

 

 

 

25,704

 

 

 

1,286

 

 

 

(29,385

)

 

 

53,589

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(20

)

 

 

 

 

 

(3,189

)

 

 

(3,209

)

Gain on sale of operations, net

 

 

 

 

 

 

 

 

 

 

 

45

 

 

 

45

 

Other income (expense), net

 

 

43

 

 

 

216

 

 

 

(9

)

 

 

6,251

 

 

 

6,501

 

Total other income (expense)

 

 

43

 

 

 

196

 

 

 

(9

)

 

 

3,107

 

 

 

3,337

 

Income (loss) from continuing operations before

   income tax expense

 

$

56,027

 

 

$

25,900

 

 

$

1,277

 

 

$

(26,278

)

 

$

56,926