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Business Combinations (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2011

Dec. 31, 2010

Business Combinations

Acquisitions Accounted for as Business Combinations

(in thousands)
Name		Business Segment				2011 Date of Acquisition				Cash Paid				Note Payable				Recorded Earn-out Payable				Recorded Purchase Price				Maximum Potential Earn-out Payable
Balcos Insurance, Inc.			Retail				January 1			$	8,611			$	—			$	1,595			$	10,206			$	5,766
Associated Insurance Service, Inc. et al.			Retail				January 1				12,000				—				1,575				13,575				6,000
United Benefit Services Insurance Agency LLC et al.			Retail				February 1				14,559				—				3,199				17,758				9,133
First Horizon Insurance Group, Inc. et al.			Retail				April 30				26,465				—				—				26,465				—
Fitzharris Agency, Inc. et al.			Retail				May 1				6,159				—				888				7,047				3,832
Corporate Benefit Consultants, LLC			Retail				June 1				9,000				—				2,038				11,038				4,520
Other			Various				Various				13,623				550				4,520				18,693				10,411
Total										$	90,417			$	550			$	13,815			$	104,782			$	39,662

(in thousands)
Name		Business Segment				2010 Date of Acquisition				Cash Paid				Note Payable				Recorded Earn-out Payable				Recorded Purchase Price				Maximum Potential Earn-out Payable
DiMartino Associates, Inc.			Retail				March 1			$	7,047			$	—			$	3,402			$	10,449			$	5,637
Stone Insurance Agencies, et al.			Retail				May 1				15,826				—				124				15,950				3,000
Other			Various				Various				10,389				175				5,575				16,139				10,429
Total										$	33,262			$	175			$	9,101			$	42,538			$	19,066

Estimated Fair Values of the Aggregate Assets and Liabilities Acquired

(in thousands)		Balcos				AIS				United				FHI				FA				CBC				Other				Total
Cash		$	—			$	—			$	—			$	5,168			$	—			$	—			$	—			$	5,168
Other current assets			187				252				438				1,334				—				—				432				2,643
Fixed assets			20				100				20				134				60				6				48				388
Goodwill			6,486				9,055				10,501				17,839				7,311				6,965				11,516				69,673
Purchased customer accounts			3,530				4,086				6,787				6,710				3,351				4,046				7,401				35,911
Non-compete agreements			42				92				45				10				21				21				81				312
Other assets			—				—				4				9				—				—				—				13
Total assets acquired			10,265				13,585				17,795				31,204				10,743				11,038				19,478				114,108
Other current liabilities			(59	)			(10	)			(37	)			(3,831	)			(3,696	)			—				(785	)			(8,418	)
Deferred income taxes			—				—				—				(908	)			—				—				—				(908	)
Total liabilities assumed			(59	)			(10	)			(37	)			(4,739	)			(3,696	)			—				(785	)			(9,326	)
Net assets acquired		$	10,206			$	13,575			$	17,758			$	26,465			$	7,047			$	11,038			$	18,693			$	104,782

(in thousands)		DiMartino				Stone				Other				Total
Cash		$	—			$	—			$	—			$	—
Other current assets			137				516				439				1,092
Fixed assets			21				70				98				189
Goodwill			6,890				11,128				9,838				27,856
Purchased customer accounts			3,380				5,172				5,895				14,447
Non-compete agreements			21				74				70				165
Other assets			—				—				—				—
Total assets acquired			10,449				16,960				16,340				43,749
Other current liabilities			—				(1,011	)			(200	)			(1,211	)
Total liabilities assumed			—				(1,011	)			(200	)			(1,211	)
Net assets acquired		$	10,449			$	15,949			$	16,140			$	42,538

Results of Operations

(UNAUDITED)		For the three  months ended June 30,								For the six months ended June 30,
(in thousands, except per share data)		2011				2010				2011				2010
Total revenues		$	249,183			$	254,929			$	518,557			$	519,985
Income before income taxes			62,194				71,539				140,929				148,573
Net income			37,473				43,320				85,011				89,833
Net income per share:
Basic		$	0.26			$	0.30			$	0.60			$	0.63
Diluted		$	0.26			$	0.30			$	0.58			$	0.63
Weighted average number of shares outstanding:
Basic			138,379				137,685				138,365				137,654
Diluted			139,942				139,105				140,950				138,937

(UNAUDITED)		For the three  months ended June 30,								For the six months ended June 30,
(in thousands, except per share data)		2010				2009				2010				2009
Total revenues		$	244,250			$	251,915			$	500,743			$	520,953
Income before income taxes			68,203				68,741				142,671				149,698
Net income			41,300				41,738				86,265				90,811
Net income per share:
Basic		$	0.29			$	0.29			$	0.61			$	0.64
Diluted		$	0.29			$	0.29			$	0.60			$	0.64
Weighted average number of shares outstanding:
Basic			137,685				136,939				137,654				136,937
Diluted			139,105				137,304				138,937				137,261

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 54
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Number 141
-Paragraph 55
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 68
-Subparagraph r(2, 3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Number 141
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.

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