XML 55 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Financial Information About Business Segments The following tables highlight certain financial information about each of the Company’s business segments for the years ended December 31, 2018, 2017 and 2016:
 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
 
For the Year Ended December 31, 2018
Revenues
 
$
483,097

 
$
399,089

 
$
333,299

 
$
398,076

 
$
10,606

 
$
1,624,167

Expenses
 
457,894

 
212,439

 
163,536

 
259,693

 
22,971

 
1,116,533

Operating profit (loss)
 
$
25,203

 
$
186,650

 
$
169,763

 
$
138,383

 
$
(12,365
)
 
$
507,634

 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
 
For the Year Ended December 31, 2017
Revenues
 
$
474,272

 
$
373,473

 
$
322,457

 
$
349,444

 
$
6,906

 
$
1,526,552

Expenses
 
455,119

 
201,833

 
161,640

 
226,504

 
20,678

 
1,065,774

Operating profit (loss)
 
$
19,153

 
$
171,640

 
$
160,817

 
$
122,940

 
$
(13,772
)
 
$
460,778

 
 
Private
Banks
 
Investment
Advisors
 
Institutional
Investors
 
Investment
Managers
 
Investments
In New
Businesses
 
Total
 
 
For the Year Ended December 31, 2016
Revenues
 
$
457,886

 
$
330,677

 
$
312,584

 
$
294,390

 
$
6,008

 
$
1,401,545

Expenses
 
421,188

 
180,140

 
153,117

 
191,127

 
20,962

 
966,534

Operating profit (loss)
 
$
36,698

 
$
150,537

 
$
159,467

 
$
103,263

 
$
(14,954
)
 
$
435,011

Gain on sale of subsidiary
 
2,791

 

 

 

 

 
2,791

Total profit (loss)
 
$
39,489

 
$
150,537

 
$
159,467

 
$
103,263

 
$
(14,954
)
 
$
437,802

Reconciliation Of Total Operating Profit Reported For Business Segments To Income From Operations In Consolidated Statements Of Operations A reconciliation of the total reported for the business segments to income from operations in the Consolidated Statements of Operations for the years ended December 31, 2018, 2017 and 2016 is as follows:
Year Ended December 31,
 
2018
 
2017
 
2016
Total operating profit from segments above
 
$
507,634

 
$
460,778

 
$
435,011

Corporate overhead expenses
 
(65,646
)
 
(63,834
)
 
(59,317
)
Income from operations
 
$
441,988

 
$
396,944

 
$
375,694

Additional Information Pertaining To Business Segments The following tables provide additional information for the years ended December 31, 2018, 2017 and 2016 pertaining to our business segments:
 
 
Capital Expenditures (1)
 
Depreciation
Year Ended December 31,
 
2018
 
2017
 
2016
 
2018
 
2017
 
2016
Private Banks
 
$
36,763

 
$
47,526

 
$
45,940

 
$
13,773

 
$
16,479

 
$
13,222

Investment Advisors
 
16,572

 
17,450

 
17,610

 
4,607

 
3,364

 
3,880

Institutional Investors
 
3,863

 
4,020

 
4,319

 
1,672

 
1,121

 
1,367

Investment Managers
 
13,639

 
15,863

 
11,209

 
6,988

 
4,698

 
4,877

Investments in New Businesses
 
972

 
546

 
726

 
547

 
826

 
2,197

Total from business segments
 
$
71,809

 
$
85,405

 
$
79,804

 
$
27,587

 
$
26,488

 
$
25,543

Corporate Overhead
 
1,507

 
1,163

 
1,985

 
1,205

 
823

 
897

 
 
$
73,316

 
$
86,568

 
$
81,789

 
$
28,792

 
$
27,311

 
$
26,440

(1) Capital expenditures include additions to property and equipment and capitalized software.
 
 
Amortization
Year Ended December 31,
 
2018
 
2017
 
2016
Private Banks
 
$
27,312

 
$
32,696

 
$
31,675

Investment Advisors
 
9,668

 
10,930

 
10,458

Institutional Investors
 
1,707

 
1,599

 
1,674

Investment Managers
 
9,382

 
2,593

 
1,092

Investments in New Businesses
 
595

 
239

 
146

Total from business segments
 
$
48,664

 
$
48,057

 
$
45,045

Corporate Overhead
 
231

 
218

 
347

 
 
$
48,895

 
$
48,275

 
$
45,392

 
 
Total Assets
 
 
2018
 
2017
Private Banks
 
$
558,451

 
$
523,214

Investment Advisors
 
143,042

 
139,697

Institutional Investors
 
109,081

 
117,286

Investment Managers
 
318,342

 
278,540

Investments in New Businesses
 
33,142

 
19,269

Total from business segments
 
$
1,162,058

 
$
1,078,006

Corporate Overhead (2)
 
809,610

 
775,363

 
 
$
1,971,668

 
$
1,853,369


(2) Unallocated assets primarily consist of cash and cash equivalents, marketable securities, and certain other shared services assets.
Revenues And Assets Based On Location The following table presents revenues based on the location of the use of the products or services:
For the Year Ended December 31,
 
2018
 
2017
 
2016
United States
 
$
1,348,130

 
$
1,298,381

 
$
1,191,640

International operations
 
276,037

 
228,171

 
209,905

 
 
$
1,624,167

 
$
1,526,552

 
$
1,401,545

The following table presents assets based on their location:
 
 
2018
 
2017
United States
 
$
1,612,202

 
$
1,471,260

International operations
 
359,466

 
382,109

 
 
$
1,971,668

 
$
1,853,369