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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Summarized Financial Information Reportable Segments | Summarized financial information concerning the Company’s reportable segments is shown in the following table. The “Other” column includes any income and expenses not allocated to reportable segments and corporate-related items, including the intercompany interest expense charge to the reporting segment. In addition, the total assets balance in “Other” is negative, reflecting the historical accumulation of the purchase price for acquisitions which are funded at the Corporate level, net of a portion returned to Corporate through intercompany interest charges, as well as the historical accumulation of payments for income taxes, dividends, and share repurchases which are paid by Corporate, but not pushed down to the segments.
|  | Year Ended December 31, 2020 |
(in thousands) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other |  |  | Total |
Total revenues |  | $ | 1,472,766 |  |  | $ | 610,640 |  |  | $ | 352,797 |  |  | $ | 174,012 |  |  | $ | 3,160 |  |  | $ | 2,613,375 |
Investment income |  | $ | 163 |  |  | $ | 756 |  |  | $ | 184 |  |  | $ | — |  |  | $ | 1,708 |  |  | $ | 2,811 |
Amortization |  | $ | 67,315 |  |  | $ | 27,166 |  |  | $ | 8,481 |  |  | $ | 5,561 |  |  | $ | — |  |  | $ | 108,523 |
Depreciation |  | $ | 9,071 |  |  | $ | 8,658 |  |  | $ | 1,948 |  |  | $ | 1,424 |  |  | $ | 5,175 |  |  | $ | 26,276 |
Interest expense |  | $ | 85,968 |  |  | $ | 20,597 |  |  | $ | 10,281 |  |  | $ | 4,142 |  |  | $ | (62,015 | ) |  | $ | 58,973 |
Income before income taxes |  | $ | 262,245 |  |  | $ | 182,892 |  |  | $ | 93,593 |  |  | $ | 27,994 |  |  | $ | 57,375 |  |  | $ | 624,099 |
Total assets |  | $ | 7,093,627 |  |  | $ | 3,510,983 |  |  | $ | 1,791,717 |  |  | $ | 480,440 |  |  | $ | (3,910,275 | ) |  | $ | 8,966,492 |
Capital expenditures |  | $ | 13,175 |  |  | $ | 7,208 |  |  | $ | 3,324 |  |  | $ | 1,424 |  |  | $ | 45,569 |  |  | $ | 70,700 |
|  | Year Ended December 31, 2019 |
(in thousands) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other |  |  | Total |
Total revenues |  | $ | 1,367,261 |  |  | $ | 518,384 |  |  | $ | 310,087 |  |  | $ | 193,781 |  |  | $ | 2,658 |  |  | $ | 2,392,171 |
Investment income |  | $ | 149 |  |  | $ | 1,397 |  |  | $ | 178 |  |  | $ | 139 |  |  | $ | 3,917 |  |  | $ | 5,780 |
Amortization |  | $ | 63,146 |  |  | $ | 25,482 |  |  | $ | 11,191 |  |  | $ | 5,479 |  |  | $ | — |  |  | $ | 105,298 |
Depreciation |  | $ | 7,390 |  |  | $ | 6,791 |  |  | $ | 1,674 |  |  | $ | 1,229 |  |  | $ | 6,333 |  |  | $ | 23,417 |
Interest expense |  | $ | 87,295 |  |  | $ | 16,690 |  |  | $ | 4,756 |  |  | $ | 4,404 |  |  | $ | (49,485 | ) |  | $ | 63,660 |
Income before income taxes |  | $ | 222,875 |  |  | $ | 143,737 |  |  | $ | 82,739 |  |  | $ | 40,337 |  |  | $ | 36,241 |  |  | $ | 525,929 |
Total assets |  | $ | 6,413,459 |  |  | $ | 3,110,368 |  |  | $ | 1,390,250 |  |  | $ | 481,336 |  |  | $ | (3,772,592 | ) |  | $ | 7,622,821 |
Capital expenditures |  | $ | 12,497 |  |  | $ | 10,365 |  |  | $ | 6,171 |  |  | $ | 804 |  |  | $ | 43,271 |  |  | $ | 73,108 |
|  | Year Ended December 31, 2018 |
(in thousands) |  | Retail |  |  | National Programs |  |  | Wholesale Brokerage |  |  | Services |  |  | Other |  |  | Total |
Total revenues |  | $ | 1,042,763 |  |  | $ | 494,463 |  |  | $ | 287,014 |  |  | $ | 189,246 |  |  | $ | 760 |  |  | $ | 2,014,246 |
Investment income |  | $ | 2 |  |  | $ | 506 |  |  | $ | 165 |  |  | $ | 205 |  |  | $ | 1,868 |  |  | $ | 2,746 |
Amortization |  | $ | 44,386 |  |  | $ | 25,954 |  |  | $ | 11,391 |  |  | $ | 4,813 |  |  | $ | — |  |  | $ | 86,544 |
Depreciation |  | $ | 5,289 |  |  | $ | 5,486 |  |  | $ | 1,628 |  |  | $ | 1,558 |  |  | $ | 8,873 |  |  | $ | 22,834 |
Interest expense |  | $ | 35,969 |  |  | $ | 26,181 |  |  | $ | 5,254 |  |  | $ | 2,869 |  |  | $ | (29,693 | ) |  | $ | 40,580 |
Income before income taxes |  | $ | 217,845 |  |  | $ | 117,375 |  |  | $ | 70,171 |  |  | $ | 34,508 |  |  | $ | 22,563 |  |  | $ | 462,462 |
Total assets |  | $ | 5,850,045 |  |  | $ | 2,940,097 |  |  | $ | 1,283,877 |  |  | $ | 471,572 |  |  | $ | (3,856,923 | ) |  | $ | 6,688,668 |
Capital expenditures |  | $ | 6,858 |  |  | $ | 12,391 |  |  | $ | 2,518 |  |  | $ | 1,525 |  |  | $ | 18,228 |  |  | $ | 41,520 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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