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Segment Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Summarized Financial Information Reportable Segments

Summarized financial information concerning the Company’s reportable segments is shown in the following table. The “Other” column includes any income and expenses not allocated to reportable segments and corporate-related items, including the intercompany interest expense charge to the reporting segment.

 

 

 

Year Ended December 31, 2021

 

(in thousands)

 

Retail

 

 

National
Programs

 

 

Wholesale
Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,767,938

 

 

$

701,850

 

 

$

403,417

 

 

$

178,860

 

 

$

(667

)

 

$

3,051,398

 

Investment income

 

$

278

 

 

$

550

 

 

$

155

 

 

$

3

 

 

$

113

 

 

$

1,099

 

Amortization

 

$

77,810

 

 

$

27,357

 

 

$

9,150

 

 

$

5,276

 

 

$

 

 

$

119,593

 

Depreciation

 

$

11,194

 

 

$

9,839

 

 

$

2,646

 

 

$

1,484

 

 

$

8,146

 

 

$

33,309

 

Interest expense

 

$

91,425

 

 

$

11,381

 

 

$

15,990

 

 

$

2,899

 

 

$

(56,714

)

 

$

64,981

 

Income before income taxes

 

$

334,377

 

 

$

242,334

 

 

$

94,845

 

 

$

28,257

 

 

$

63,010

 

 

$

762,823

 

Total assets

 

$

5,040,706

 

 

$

2,943,006

 

 

$

1,154,373

 

 

$

299,185

 

 

$

358,173

 

 

$

9,795,443

 

Capital expenditures

 

$

8,093

 

 

$

13,467

 

 

$

1,612

 

 

$

1,609

 

 

$

20,264

 

 

$

45,045

 

 

 

 

Year Ended December 31, 2020

 

(in thousands)

 

Retail

 

 

National
Programs

 

 

Wholesale
Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,472,766

 

 

$

610,640

 

 

$

352,797

 

 

$

174,012

 

 

$

3,160

 

 

$

2,613,375

 

Investment income

 

$

163

 

 

$

756

 

 

$

184

 

 

$

 

 

$

1,708

 

 

$

2,811

 

Amortization

 

$

67,315

 

 

$

27,166

 

 

$

8,481

 

 

$

5,561

 

 

$

 

 

$

108,523

 

Depreciation

 

$

9,071

 

 

$

8,658

 

 

$

1,948

 

 

$

1,424

 

 

$

5,175

 

 

$

26,276

 

Interest expense

 

$

85,968

 

 

$

20,597

 

 

$

10,281

 

 

$

4,142

 

 

$

(62,015

)

 

$

58,973

 

Income before income taxes

 

$

262,245

 

 

$

182,892

 

 

$

93,593

 

 

$

27,994

 

 

$

57,375

 

 

$

624,099

 

Total assets

 

$

7,093,627

 

 

$

3,510,983

 

 

$

1,791,717

 

 

$

480,440

 

 

$

(3,910,275

)

 

$

8,966,492

 

Capital expenditures

 

$

13,175

 

 

$

7,208

 

 

$

3,324

 

 

$

1,424

 

 

$

45,569

 

 

$

70,700

 

 

 

 

Year Ended December 31, 2019

 

(in thousands)

 

Retail

 

 

National
Programs

 

 

Wholesale
Brokerage

 

 

Services

 

 

Other

 

 

Total

 

Total revenues

 

$

1,367,261

 

 

$

518,384

 

 

$

310,087

 

 

$

193,781

 

 

$

2,658

 

 

$

2,392,171

 

Investment income

 

$

149

 

 

$

1,397

 

 

$

178

 

 

$

139

 

 

$

3,917

 

 

$

5,780

 

Amortization

 

$

63,146

 

 

$

25,482

 

 

$

11,191

 

 

$

5,479

 

 

$

 

 

$

105,298

 

Depreciation

 

$

7,390

 

 

$

6,791

 

 

$

1,674

 

 

$

1,229

 

 

$

6,333

 

 

$

23,417

 

Interest expense

 

$

87,295

 

 

$

16,690

 

 

$

4,756

 

 

$

4,404

 

 

$

(49,485

)

 

$

63,660

 

Income before income taxes

 

$

222,875

 

 

$

143,737

 

 

$

82,739

 

 

$

40,337

 

 

$

36,241

 

 

$

525,929

 

Total assets

 

$

6,413,459

 

 

$

3,110,368

 

 

$

1,390,250

 

 

$

481,336

 

 

$

(3,772,592

)

 

$

7,622,821

 

Capital expenditures

 

$

12,497

 

 

$

10,365

 

 

$

6,171

 

 

$

804

 

 

$

43,271

 

 

$

73,108