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Quarterly Operating Results (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Operating Results | 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.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: 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 + Details
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