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Business Segment Information | 3 Months Ended
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Mar. 31, 2017
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, independent wealth advisers and financial advisors worldwide; 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 fund companies, banking institutions and both traditional and non-traditional investment managers worldwide; and Investments in New Businesses – focuses on providing investment management programs to ultra-high-net-worth families residing in the United States; developing internet-based investment services and advice solutions; entering new markets; and conducting 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, 2017 and 2016. 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, 2016. The following tables highlight certain financial information about each of the Company’s business segments for the three months ended March 31, 2017 and 2016.
| Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investment Managers |  | Investments In New Businesses |  | Total
| For the Three Months Ended March 31, 2017
Revenues | $ | 112,634 |  |  | $ | 88,238 |  |  | $ | 77,004 |  |  | $ | 80,487 |  |  | $ | 1,621 |  |  | $ | 359,984 |
Expenses | 108,550 |  |  | 47,539 |  |  | 38,828 |  |  | 52,065 |  |  | 4,880 |  |  | 251,862 |
Operating profit (loss) | $ | 4,084 |  |  | $ | 40,699 |  |  | $ | 38,176 |  |  | $ | 28,422 |  |  | $ | (3,259 | ) |  | $ | 108,122 |
| Private Banks |  | Investment Advisors |  | Institutional Investors |  | Investment Managers |  | Investments In New Businesses |  | Total
| For the Three Months Ended March 31, 2016
Revenues | $ | 113,361 |  |  | $ | 76,679 |  |  | $ | 72,897 |  |  | $ | 69,918 |  |  | $ | 1,408 |  |  | $ | 334,263 |
Expenses | 103,741 |  |  | 44,774 |  |  | 35,382 |  |  | 45,275 |  |  | 5,232 |  |  | 234,404 |
Operating profit (loss) | $ | 9,620 |  |  | $ | 31,905 |  |  | $ | 37,515 |  |  | $ | 24,643 |  |  | $ | (3,824 | ) |  | $ | 99,859 |
Gain on sale of subsidiary | 2,791 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,791 |
Segment profit (loss) | $ | 12,411 |  |  | $ | 31,905 |  |  | $ | 37,515 |  |  | $ | 24,643 |  |  | $ | (3,824 | ) |  | $ | 102,650 |
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, 2017 and 2016 is as follows:
| 2017 |  | 2016
Total operating profit from segments | $ | 108,122 |  |  | $ | 99,859 |
Corporate overhead expenses | (14,605 | ) |  | (13,047 | )
Income from operations | $ | 93,517 |  |  | $ | 86,812 |
The following tables provide additional information for the three months ended March 31, 2017 and 2016 pertaining to our business segments:
| Capital Expenditures (1) |  | Depreciation
| 2017 |  | 2016 |  | 2017 |  | 2016
Private Banks | $ | 12,850 |  |  | $ | 8,712 |  |  | $ | 4,410 |  |  | $ | 3,181 |
Investment Advisors | 4,532 |  |  | 2,852 |  |  | 733 |  |  | 976 |
Institutional Investors | 811 |  |  | 796 |  |  | 227 |  |  | 334 |
Investment Managers | 1,615 |  |  | 1,322 |  |  | 916 |  |  | 1,190 |
Investments in New Businesses | 106 |  |  | 94 |  |  | 368 |  |  | 548 |
Total from business segments | $ | 19,914 |  |  | $ | 13,776 |  |  | $ | 6,654 |  |  | $ | 6,229 |
Corporate overhead | 152 |  |  | 310 |  |  | 146 |  |  | 218 |
| $ | 20,066 |  |  | $ | 14,086 |  |  | $ | 6,800 |  |  | $ | 6,447 |
(1) Capital expenditures include additions to property and equipment and capitalized software.
| Amortization
| 2017 |  | 2016
Private Banks | $ | 8,464 |  |  | $ | 7,711 |
Investment Advisors | 2,850 |  |  | 2,553 |
Institutional Investors | 323 |  |  | 399 |
Investment Managers | 216 |  |  | 266 |
Investments in New Businesses | 119 |  |  | 26 |
Total from business segments | $ | 11,972 |  |  | $ | 10,955 |
Corporate overhead | 50 |  |  | 57 |
| $ | 12,022 |  |  | $ | 11,012 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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