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Segment Disclosures
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Disclosures SEGMENT DISCLOSURES
Our business units have been aggregated into three practice groups: Financial Services, Benefits and Insurance Services and National Practices. The business units have been aggregated based on the following factors: similarity of the products and services provided to clients; similarity of the regulatory environment in which they operate; and similarity of economic conditions affecting long-term performance. The business units are managed along these segment lines. A general description of services provided by each practice group is provided in the table below.
Financial ServicesBenefits and Insurance ServicesNational Practices
Accounting and TaxEmployee Benefits ConsultingInformation Technology Managed Networking and Hardware Services
Financial AdvisoryPayroll / Human Capital ManagementHealthcare Consulting
ValuationProperty and Casualty Insurance
Risk and Advisory ServicesRetirement and Investment Services
Government Healthcare Consulting
Corporate and Other - Included in Corporate and Other are operating expenses that are not directly allocated to the individual business units. These expenses primarily consist of certain health care costs, gains or losses attributable to assets held in our non-qualified deferred compensation plan, stock-based compensation, consolidation and integration charges, certain professional fees, certain advertising costs and other various expenses.
Accounting policies of the practice groups are the same as those described in Note 1, Basis of Presentation and Significant Accounting Policies, to the Annual Report on Form 10-K for the year ended December 31, 2022. Upon consolidation, intercompany accounts and transactions are eliminated, thus inter-segment revenue is not included in the measure of profit or loss for the practice groups. Performance of the practice groups is evaluated on income (loss) before income tax expense (benefit) excluding those costs listed above, which are reported in the “Corporate and Other”.
Segment information for the three and nine months ended September 30, 2023 and 2022 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below.
The following table disaggregates our revenue by source (in thousands):
Three Months Ended September 30, 2023
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$298,372 ——$298,372 
Core benefits and insurance services—95,951 —95,951 
Non-core benefits and insurance services—4,336 —4,336 
Managed networking, hardware services——9,205 9,205 
National practices consulting——2,675 2,675 
Total revenue$298,372 $100,287 $11,880 $410,539 


Three Months Ended September 30, 2022
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$259,998 ——$259,998 
Core benefits and insurance services—88,364 —88,364 
Non-core benefits and insurance services—3,703 —3,703 
Managed networking, hardware services——8,514 8,514 
National practices consulting——2,683 2,683 
Total revenue$259,998 $92,067 $11,197 $363,262 
Nine Months Ended September 30, 2023
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$932,388 ——$932,388 
Core benefits and insurance services—283,599 —283,599 
Non-core benefits and insurance services—12,580 —12,580 
Managed networking, hardware services——27,226 27,226 
National practices consulting——7,854 7,854 
Total revenue$932,388 $296,179 $35,080 $1,263,647 
Nine Months Ended September 30, 2022
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$808,052 ——$808,052 
Core benefits and insurance services—264,666 —264,666 
Non-core benefits and insurance services—11,595 —11,595 
Managed networking, hardware services——24,768 24,768 
National practices consulting——7,855 7,855 
Total revenue$808,052 $276,261 $32,623 $1,116,936 
Segment information for the three months ended September 30, 2023 and 2022 was as follows (in thousands):
Three Months Ended September 30, 2023
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$298,372 $100,287 $11,880 $— $410,539 
Operating expenses 249,680 79,636 10,667 2,165 342,148 
Gross margin48,692 20,651 1,213 (2,165)68,391 
Corporate general and administrative expenses— — — 13,136 13,136 
Operating income (loss)48,692 20,651 1,213 (15,301)55,255 
Other income (expense):
Interest expense— — — (5,848)(5,848)
Gain on sale of operations, net77 — — — 77 
Other income (expense), net1,497 267 — (4,052)(2,288)
Total other income (expense), net1,574 267 — (9,900)(8,059)
Income (loss) before income tax expense$50,266 $20,918 $1,213 $(25,201)$47,196 


Three Months Ended September 30, 2022
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$259,998 $92,067 $11,197 $— $363,262 
Operating expenses220,337 73,321 9,743 2,616 306,017 
Gross margin39,661 18,746 1,454 (2,616)57,245 
Corporate general and administrative expenses— — — 15,893 15,893 
Operating income (loss)39,661 18,746 1,454 (18,509)41,352 
Other income (expense):
Interest expense— (4)— (2,301)(2,305)
Gain on sale of operations, net176 — — — 176 
Other income (expense), net103 2,402 8 (5,135)(2,622)
Total other income (expense), net279 2,398 8 (7,436)(4,751)
Income (loss) before income tax expense$39,940 $21,144 $1,462 $(25,945)$36,601 
Segment information for the nine months ended September 30, 2023 and 2022 was as follows (in thousands):
Nine Months Ended September 30, 2023
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$932,388 $296,179 $35,080 $— $1,263,647 
Operating expenses 737,568 234,933 31,795 22,850 1,027,146 
Gross margin194,820 61,246 3,285 (22,850)236,501 
Corporate general and administrative expenses— — — 44,527 44,527 
Operating income (loss)194,820 61,246 3,285 (67,377)191,974 
Other income (expense):
Interest expense— (1)— (15,022)(15,023)
Gain on sale of operations, net176 — — — 176 
Other income, net1,987 597 1 5,660 8,245 
Total other income (expense), net2,163 596 1 (9,362)(6,602)
Income (loss) before income tax expense$196,983 $61,842 $3,286 $(76,739)$185,372 
Nine Months Ended September 30, 2022
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$808,052 $276,261 $32,623 $— $1,116,936 
Operating expenses (income)639,780 220,998 29,218 (3,944)886,052 
Gross margin168,272 55,263 3,405 3,944 230,884 
Corporate general and administrative expenses— — — 43,128 43,128 
Operating income (loss)168,272 55,263 3,405 (39,184)187,756 
Other income (expense):
Interest expense— (5)— (5,204)(5,209)
Gain on sale of operations, net311 — — — 311 
Other income (expense), net274 2,366 9 (27,581)(24,932)
Total other income (expense), net585 2,361 9 (32,785)(29,830)
Income (loss) before income tax expense$168,857 $57,624 $3,414 $(71,969)$157,926