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Business Segment Information
 9 Months Ended
Sep. 30, 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 and nine months ended September 30, 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 September 30, 2013 and 2012. 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
For the Three Months Ended September 30, 2013
Revenues
$
97,370

 
$
61,393

 
$
63,539

 
$
57,266

 
$
1,087

 
$
280,655

Expenses
95,579

 
33,768

 
33,058

 
37,763

 
4,146

 
204,314

Operating profit (loss)
$
1,791

 
$
27,625

 
$
30,481

 
$
19,503

 
$
(3,059
)
 
$
76,341

 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
For the Three Months Ended September 30, 2012
Revenues
$
92,076

 
$
51,384

 
$
58,081

 
$
49,311

 
$
900

 
$
251,752

Expenses
91,209

 
30,114

 
29,654

 
32,122

 
3,698

 
186,797

Operating profit (loss)
$
867

 
$
21,270

 
$
28,427

 
$
17,189

 
$
(2,798
)
 
$
64,955


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 September 30, 2013 and 2012 is as follows: 
 
2013
 
2012
Total operating profit from segments above
$
76,341

 
$
64,955

Corporate overhead expenses
(14,402
)
 
(11,668
)
Noncontrolling interest reflected in segments
—

 
203

Income from operations
$
61,939

 
$
53,490



The following tables provide additional information for the three months ended September 30, 2013 and 2012 pertaining to our business segments: 
 
Capital Expenditures
 
Depreciation
 
2013
 
2012
 
2013
 
2012
Private Banks
$
9,376

 
$
8,248

 
$
3,799

 
$
3,911

Investment Advisors
3,513

 
2,797

 
521

 
503

Institutional Investors
777

 
647

 
222

 
252

Investment Managers
1,596

 
927

 
525

 
500

Investments in New Businesses
186

 
140

 
442

 
449

Total from business segments
$
15,448

 
$
12,759

 
$
5,509

 
$
5,615

Corporate overhead
259

 
228

 
107

 
146

 
$
15,707

 
$
12,987

 
$
5,616

 
$
5,761

 
 
Amortization
 
2013
 
2012
Private Banks
$
5,704

 
$
7,660

Investment Advisors
2,105

 
1,832

Institutional Investors
326

 
302

Investment Managers
218

 
201

Investments in New Businesses
419

 
332

Total from business segments
$
8,772

 
$
10,327

Corporate overhead
57

 
57

 
$
8,829

 
$
10,384


The following tables highlight certain unaudited financial information about each of the Company’s business segments for the nine months ended September 30, 2013 and 2012. 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
For the Nine Months Ended September 30, 2013
Revenues
$
291,258

 
$
175,868

 
$
190,385

 
$
166,542

 
$
3,055

 
$
827,108

Expenses
289,632

 
98,291

 
97,595

 
109,432

 
11,774

 
606,724

Operating profit (loss)
$
1,626

 
$
77,577

 
$
92,790

 
$
57,110

 
$
(8,719
)
 
$
220,384

Gain on sale of subsidiary
22,112

 
—

 
—

 
—

 
—

 
22,112

Total profit (loss)
$
23,738

 
$
77,577

 
$
92,790

 
$
57,110

 
$
(8,719
)
 
$
242,496

 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
For the Nine Months Ended September 30, 2012
Revenues
$
268,367

 
$
150,227

 
$
167,293

 
$
142,235

 
$
2,765

 
$
730,887

Expenses
263,612

 
88,440

 
86,494

 
92,711

 
11,080

 
542,337

Operating profit (loss)
$
4,755

 
$
61,787

 
$
80,799

 
$
49,524

 
$
(8,315
)
 
$
188,550


A reconciliation of the total operating profit reported for the business segments to income from operations in the Consolidated Statements of Operations for the nine months ended September 30, 2013 and 2012 is as follows: 
 
2013
 
2012
Total operating profit from segments above
$
220,384

 
$
188,550

Corporate overhead expenses
(40,719
)
 
(33,830
)
Noncontrolling interest reflected in segments
289

 
657

Income from operations
$
179,954

 
$
155,377


The following tables provide additional information for the nine months ended September 30, 2013 and 2012 pertaining to our business segments: 
 
Capital Expenditures
 
Depreciation
 
2013
 
2012
 
2013
 
2012
Private Banks
$
26,079

 
$
28,270

 
$
11,679

 
$
11,343

Investment Advisors
9,480

 
9,743

 
1,547

 
1,489

Institutional Investors
1,921

 
2,514

 
674

 
765

Investment Managers
3,071

 
5,090

 
1,461

 
1,468

Investments in New Businesses
461

 
560

 
1,350

 
1,273

Total from business segments
$
41,012

 
$
46,177

 
$
16,711

 
$
16,338

Corporate Overhead
445

 
1,368

 
339

 
485

 
$
41,457

 
$
47,545

 
$
17,050

 
$
16,823

 
Amortization
 
2013
 
2012
Private Banks
$
16,497

 
$
17,139

Investment Advisors
6,063

 
5,305

Institutional Investors
937

 
906

Investment Managers
626

 
603

Investments in New Businesses
1,204

 
905

Total from business segments
$
25,327

 
$
24,858

Corporate Overhead
171

 
555

 
$
25,498

 
$
25,413