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Quarterly Operating Results (Unaudited) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Operating Results (Unaudited) | NOTE 14 Quarterly Operating Results (Unaudited) Quarterly operating results for 2014 and 2013 were as follows:
(in thousands, except per share data) |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter(1) |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 363,594 |  |  | $ | 397,764 |  |  | $ | 421,418 |  |  | $ | 393,020 |
Total expenses |  | $ | 276,757 |  |  | $ | 295,983 |  |  | $ | 308,733 |  |  | $ | 354,574 |
Income before income taxes |  | $ | 86,837 |  |  | $ | 101,781 |  |  | $ | 112,685 |  |  | $ | 38,446 |
Net income |  | $ | 52,415 |  |  | $ | 61,755 |  |  | $ | 68,331 |  |  | $ | 24,395 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.36 |  |  | $ | 0.43 |  |  | $ | 0.47 |  |  | $ | 0.17 |
Diluted |  | $ | 0.36 |  |  | $ | 0.42 |  |  | $ | 0.47 |  |  | $ | 0.17 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 335,012 |  |  | $ | 325,792 |  |  | $ | 359,310 |  |  | $ | 343,165 |
Total expenses |  | $ | 235,521 |  |  | $ | 239,571 |  |  | $ | 263,855 |  |  | $ | 266,723 |
Income before income taxes |  | $ | 99,491 |  |  | $ | 86,221 |  |  | $ | 95,455 |  |  | $ | 76,442 |
Net income |  | $ | 60,131 |  |  | $ | 52,007 |  |  | $ | 57,749 |  |  | $ | 47,225 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.42 |  |  | $ | 0.36 |  |  | $ | 0.40 |  |  | $ | 0.32 |
Diluted |  | $ | 0.41 |  |  | $ | 0.36 |  |  | $ | 0.39 |  |  | $ | 0.32 |
(1) | Represents the Company recognizing a loss on disposal of $47.4 million as a result of the sale of Axiom effective December 31, 2014. The sale is part of the Company’s strategy to exit the reinsurance brokerage business.
Quarterly financial results are affected by seasonal variations. The timing of the Company’s receipt of profit-sharing contingent commissions, policy renewals and acquisitions may cause revenues, expenses and net income to vary significantly between quarters.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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