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SEGMENT DISCLOSURES
 6 Months Ended
Jun. 30, 2024
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, 2023. 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 six months ended June 30, 2024 and 2023 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 June 30, 2024
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$309,233 ——$309,233 
Core benefits and insurance services—93,533 —93,533 
Non-core benefits and insurance services—3,886 —3,886 
Managed networking, hardware services——10,250 10,250 
National practices consulting——3,110 3,110 
Total revenue$309,233 $97,419 $13,360 $420,012 
Three Months Ended June 30, 2023
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$290,930 ——$290,930 
Core benefits and insurance services—91,031 —91,031 
Non-core benefits and insurance services—4,807 —4,807 
Managed networking, hardware services——9,067 9,067 
National practices consulting——2,667 2,667 
Total revenue$290,930 $95,838 $11,734 $398,502 
Six Months Ended June 30, 2024
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$681,863 ——$681,863 
Core benefits and insurance services—198,738 —198,738 
Non-core benefits and insurance services—7,089 —7,089 
Managed networking, hardware services——20,438 20,438 
National practices consulting——6,181 6,181 
Total revenue$681,863 $205,827 $26,619 $914,309 
Six Months Ended June 30, 2023
Financial
Services		Benefits and
Insurance Services		National
Practices		Consolidated
Accounting, tax, advisory and consulting$634,016 ——$634,016 
Core benefits and insurance services—187,648 —187,648 
Non-core benefits and insurance services—8,244 —8,244 
Managed networking, hardware services——18,021 18,021 
National practices consulting——5,179 5,179 
Total revenue$634,016 $195,892 $23,200 $853,108 
Segment information for the three months ended June 30, 2024 and 2023 was as follows (in thousands):
Three Months Ended June 30, 2024
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$309,233 $97,419 $13,360 $— $420,012 
Operating expenses 262,809 83,243 12,028 8,288 366,368 
Gross margin46,424 14,176 1,332 (8,288)53,644 
Corporate general and administrative expenses— — — 22,050 22,050 
Operating income (loss)46,424 14,176 1,332 (30,338)31,594 
Other income (expense):
Interest expense— — — (5,884)(5,884)
Other income, net128 43 (4)2,316 2,483 
Total other income (expense), net128 43 (4)(3,568)(3,401)
Income (loss) before income tax expense$46,552 $14,219 $1,328 $(33,906)$28,193 
Three Months Ended June 30, 2023
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$290,930 $95,838 $11,734 $— $398,502 
Operating expenses243,445 78,374 10,545 11,623 343,987 
Gross margin47,485 17,464 1,189 (11,623)54,515 
Corporate general and administrative expenses— — — 15,793 15,793 
Operating income (loss)47,485 17,464 1,189 (27,416)38,722 
Other income (expense):
Interest expense— — — (5,534)(5,534)
Other income, net235 153 1 5,032 5,421 
Total other income (loss), net235 153 1 (502)(113)
Income (loss) before income tax expense$47,720 $17,617 $1,190 $(27,918)$38,609 
Segment information for the six months ended June 30, 2024 and 2023 was as follows (in thousands):
Six Months Ended June 30, 2024
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$681,863 $205,827 $26,619 $— $914,309 
Operating expenses 528,370 166,880 23,961 23,642 742,853 
Gross margin153,493 38,947 2,658 (23,642)171,456 
Corporate general and administrative expenses— — — 40,761 40,761 
Operating income (loss)153,493 38,947 2,658 (64,403)130,695 
Other income (expense):
Interest expense— — — (10,395)(10,395)
Other income, net214 87 (4)11,610 11,907 
Total other income (expense), net214 87 (4)1,215 1,512 
Income (loss) before income tax expense$153,707 $39,034 $2,654 $(63,188)$132,207 
Six Months Ended June 30, 2023
Financial
Services		Benefits
and
Insurance
Services		National
Practices		Corporate
and
Other		Total
Revenue$634,016 $195,892 $23,200 $— $853,108 
Operating expenses (income)487,888 155,297 21,128 20,685 684,998 
Gross margin146,128 40,595 2,072 (20,685)168,110 
Corporate general and administrative expenses— — — 31,391 31,391 
Operating income (loss)146,128 40,595 2,072 (52,076)136,719 
Other income (expense):
Interest expense— (1)— (9,174)(9,175)
Gain on sale of operations, net99 — — — 99 
Other income (expense), net490 330 1 9,712 10,533 
Total other income (expense), net589 329 1 538 1,457 
Income (loss) before income tax expense$146,717 $40,924 $2,073 $(51,538)$138,176