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Segment Disclosures (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Summary of Segment Information

Segment information for the three and six months ended June 30, 2019 and 2018 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, 2019

 

 

 

Financial

Services

 

 

Benefits

and

Insurance

Services

 

 

National

Practices

 

 

Corporate

and

Other

 

 

Total

 

Revenue

 

$

154,373

 

 

$

72,127

 

 

$

8,998

 

 

$

 

 

$

235,498

 

Operating expenses

 

 

128,158

 

 

 

61,075

 

 

 

8,204

 

 

 

711

 

 

 

198,148

 

Gross margin

 

 

26,215

 

 

 

11,052

 

 

 

794

 

 

 

(711

)

 

 

37,350

 

Corporate general & admin

 

 

 

 

 

 

 

 

 

 

 

10,566

 

 

 

10,566

 

Operating income (loss)

 

 

26,215

 

 

 

11,052

 

 

 

794

 

 

 

(11,277

)

 

 

26,784

 

Other (expense) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(14

)

 

 

 

 

 

(1,573

)

 

 

(1,587

)

Gain on sale of operations, net

 

 

50

 

 

 

 

 

 

 

 

 

 

 

 

50

 

Other (expense) income, net

 

 

(66

)

 

 

174

 

 

 

1

 

 

 

(3,420

)

 

 

(3,311

)

Total other (expense) income

 

 

(16

)

 

 

160

 

 

 

1

 

 

 

(4,993

)

 

 

(4,848

)

Income (loss) from continuing operations before

   income tax expense

 

$

26,199

 

 

$

11,212

 

 

$

795

 

 

$

(16,270

)

 

$

21,936

 

 

 

 

 

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

 

 

Segment information for the six months ended June 30, 2019 and 2018 was as follows (in thousands):

 

 

 

Six Months Ended June 30, 2019

 

 

 

Financial

Services

 

 

Benefits

and

Insurance

Services

 

 

National

Practices

 

 

Corporate

and

Other

 

 

Total

 

Revenue

 

$

339,517

 

 

$

148,382

 

 

$

17,597

 

 

$

 

 

$

505,496

 

Operating expenses

 

 

262,616

 

 

 

122,446

 

 

 

16,204

 

 

 

12,378

 

 

 

413,644

 

Gross margin

 

 

76,901

 

 

 

25,936

 

 

 

1,393

 

 

 

(12,378

)

 

 

91,852

 

Corporate general & admin

 

 

 

 

 

 

 

 

 

 

 

22,246

 

 

 

22,246

 

Operating income (loss)

 

 

76,901

 

 

 

25,936

 

 

 

1,393

 

 

 

(34,624

)

 

 

69,606

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(24

)

 

 

 

 

 

(2,964

)

 

 

(2,988

)

Gain on sale of operations, net

 

 

547

 

 

 

 

 

 

 

 

 

 

 

 

547

 

Other (expense) income, net

 

 

(202

)

 

 

195

 

 

 

1

 

 

 

5,955

 

 

 

5,949

 

Total other income

 

 

345

 

 

 

171

 

 

 

1

 

 

 

2,991

 

 

 

3,508

 

Income (loss) from continuing operations before

   income tax expense

 

$

77,246

 

 

$

26,107

 

 

$

1,394

 

 

$

(31,633

)

 

$

73,114

 

 

 

 

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