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Business Segment Information
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Business Segment Information
Business Segment Information
The Company’s reportable business segments are:
Private Banks – provides investment processing and investment management programs to banks and trust institutions worldwide, independent wealth advisers located in the United Kingdom, and financial advisors in Canada;
Investment Advisors – provides investment management programs to affluent investors through a network of independent registered investment advisors, financial planners, and other investment professionals in the United States;
Institutional Investors – provides investment management programs and administrative outsourcing solutions to retirement plan sponsors, hospitals, and not-for-profit organizations worldwide;
Investment Managers – provides investment operations outsourcing solutions to investment managers, fund companies and banking institutions located in the United States, and to investment managers worldwide of alternative asset classes such as hedge funds, funds of hedge funds, and private equity funds across both registered and partnership structures; and
Investments in New Businesses – provides investment management programs to ultra-high-net-worth families residing in the United States through the SEI Wealth Network® and conducts other research and development activities.
The information in the following tables is derived from the Company’s internal financial reporting used for corporate management purposes. There are no inter-segment revenues for the three months ended March 31, 2013 and 2012. Management evaluates Company assets on a consolidated basis during interim periods. The accounting policies of the reportable business segments are the same as those described in Note 1 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
The following tables highlight certain unaudited financial information about each of the Company’s business segments for the three months ended March 31, 2013 and 2012. 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
For the Three Months Ended March 31, 2013
Revenues
$
98,746

 
$
55,191

 
$
63,162

 
$
53,820

 
$
960

 
$
271,879

Expenses
96,298

 
31,625

 
31,509

 
35,162

 
3,738

 
198,332

Operating profit (loss)
$
2,448

 
$
23,566

 
$
31,653

 
$
18,658

 
$
(2,778
)
 
$
73,547

Gain on sale of subsidiary
22,112

 
—

 
—

 
—

 
—

 
22,112

Total profit (loss)
$
24,560

 
$
23,566

 
$
31,653

 
$
18,658

 
$
(2,778
)
 
$
95,659

 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
For the Three Months Ended March 31, 2012
Revenues
$
87,988

 
$
49,468

 
$
53,317

 
$
46,211

 
$
914

 
$
237,898

Expenses
87,517

 
29,301

 
28,100

 
30,426

 
3,698

 
179,042

Operating profit (loss)
$
471

 
$
20,167

 
$
25,217

 
$
15,785

 
$
(2,784
)
 
$
58,856


A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the three months ended March 31, 2013 and 2012 is as follows: 
 
2013
 
2012
Total operating profit from segments above
$
73,547

 
$
58,856

Corporate overhead expenses
(13,794
)
 
(11,082
)
Noncontrolling interest reflected in segments
289

 
315

Income from operations
$
60,042

 
$
48,089



The following tables provide additional information for the three months ended March 31, 2013 and 2012 pertaining to our business segments: 
 
Capital Expenditures
 
Depreciation
 
2013
 
2012
 
2013
 
2012
Private Banks
$
4,851

 
$
11,842

 
$
3,933

 
$
3,728

Investment Advisors
1,775

 
4,141

 
509

 
494

Institutional Investors
363

 
1,231

 
230

 
262

Investment Managers
623

 
3,053

 
462

 
476

Investments in New Businesses
88

 
272

 
454

 
334

Total from business segments
$
7,700

 
$
20,539

 
$
5,588

 
$
5,294

Corporate overhead
92

 
854

 
116

 
138

 
$
7,792

 
$
21,393

 
$
5,704

 
$
5,432

 
 
Amortization
 
2013
 
2012
Private Banks
$
5,336

 
$
4,685

Investment Advisors
1,957

 
1,716

Institutional Investors
302

 
302

Investment Managers
202

 
201

Investments in New Businesses
388

 
277

Total from business segments
$
8,185

 
$
7,181

Corporate overhead
57

 
441

 
$
8,242

 
$
7,622