SEGMENT DISCLOSURES

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT DISCLOSURES

SEGMENT DISCLOSURES

Our business units have been aggregated into three practice groups: (i) Financial Services, (ii) Benefits and Insurance Services and (iii) National Practices, 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 practice groups is provided in the table below. 

Financial Services	Benefits and Insurance Services	National Practices
Accounting and Tax	Employee Benefits Consulting	Information Technology Managed Networking and Hardware Services
Financial Advisory	Payroll / Human Capital Management
National Technology	Property and Casualty Insurance
Government Heath Care Consulting	Retirement and Investment Services

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 healthcare 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.

The discrete financial information of those practice groups are available and regularly reviewed by the Chief Operating Decision Maker ("CODM"). The CODM, who is our CEO, allocates resources to and assesses the performance of each practice group using information about their respective revenue and income (loss) before income tax expense (benefit), excluding those costs listed above, which are reported in the “Corporate and Other”. 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. The CODM does not evaluate practice groups using discrete asset information, and we do not identify or allocate assets by practice groups.

We operate in the United States and Canada and revenue generated from such operations during the years ended December 31, 2024, 2023 and 2022 was as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
United States	$	1,811,113	$	1,589,478	$	1,410,255
Canada	2,359		1,716		1,724
Total revenue	$	1,813,472	$	1,591,194	$	1,411,979

There is no one customer that represents a significant portion of our revenue.

The practice groups respective revenue and pre-tax income, significant segment expenses, and a reconciliation of segment profit or loss measure to the consolidated income before income tax expense for the years ended December 31, 2024, 2023 and 2022 are presented below (in thousands).

	For the Year Ended December 31, 2024
	Financial Services		Benefits and Insurance Services		National Practices		Total
Revenue from external customers	$	1,362,539	$	401,048	$	49,885	$	1,813,472
Significant expenses:
Personnel costs	972,730		257,166		42,913		1,272,809
Facility costs	55,178		12,481		177		67,836
Other costs, gains, and losses, net (1)	185,091		58,476		(3,394)		240,173
Total segment expense	1,212,999		328,123		39,696		1,580,818
Segment income before income tax expenses	149,540		72,925		10,189		232,654
Corporate & other:
Unallocated corporate operating expenses							44,485
General & administrative expenses							108,753
Interest expense							34,374
Other income, net							(12,765)
Consolidated income before income tax expenses							$	57,807

	For the Year Ended December 31, 2023
	Financial Services		Benefits and Insurance Services		National Practices		Total
Revenue from external customers	$	1,160,686	$	382,605	$	47,903	$	1,591,194
Significant expenses:
Personnel costs	793,791		242,340		40,949		1,077,080
Facility costs	44,444		12,196		250		56,890
Other costs, gains, and losses, net (1)	134,623		53,916		1,860		190,399
Total segment expense	972,858		308,452		43,059		1,324,369
Segment income before income tax expenses	187,828		74,153		4,844		266,825
Corporate & other:
Unallocated corporate operating expenses							39,344
General & administrative expenses							57,965
Interest expense							20,129
Other income, net							(16,916)
Consolidated income before income tax expenses							$	166,303

	For the Year Ended December 31, 2022
	Financial Services		Benefits and Insurance Services		National Practices		Total
Revenue from external customers	$	1,010,068	$	358,007	$	43,904	$	1,411,979
Significant expenses:
Personnel costs	688,555		225,871		36,832		951,258
Facility costs	42,617		12,831		250		55,698
Other costs, gains, and losses, net (1)	118,184		49,299		2,109		169,592
Total segment expense	849,356		288,001		39,191		1,176,548
Segment income before income tax expenses	160,712		70,006		4,713		235,431
Corporate & other:
Unallocated corporate operating expenses							8,986
General & administrative expenses							55,023
Interest expense							8,033
Other expense, net							21,914
Consolidated income before income tax expenses							$	141,475

(1) - Other costs, gains, and losses, net primarily consist of travel and entertainment costs, computer and technology related costs, depreciation and amortization expenses, and other discretionary costs.