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Business Segment Information
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company’s reportable business segments are:
Private Banks – Provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide;
Investment Advisors – Provides investment management and investment processing platforms to affluent investors through a network of independent registered investment advisors, financial planners and other investment professionals in the United States;
Institutional Investors – Provides OCIO solutions, including investment management and administrative outsourcing platforms to retirement plan sponsors, healthcare systems, higher education and other not-for-profit organizations worldwide;
Investment Managers – Provides investment operations outsourcing platforms to fund companies, banking institutions, traditional and non-traditional investment managers worldwide and family offices in the United States; and
Investments in New Businesses – Focuses on providing investment management solutions to ultra-high-net-worth families residing in the United States; developing network and data protection services; modularizing larger technology platforms into stand-alone components; entering new markets; and conducting other research and development activities.
The information in the following tables is derived from internal financial reporting used for corporate management purposes. There are no inter-segment revenues for the three months ended March 31, 2022 and 2021. Assets are not allocated to segments for internal reporting purposes. 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, 2021.
The following tables highlight certain financial information about each of the business segments for the three months ended March 31, 2022 and 2021:
Private
Banks
Investment
Advisors		Institutional
Investors		Investment
Managers		Investments
In New
Businesses		Total
 For the Three Months Ended March 31, 2022
Revenues$213,548 $119,230 $86,839 $156,901 $4,925 $581,443 
Expenses121,955 64,520 45,358 98,837 11,950 342,620 
Operating profit (loss)$91,593 $54,710 $41,481 $58,064 $(7,025)$238,823 
Private
Banks		Investment
Advisors		Institutional
Investors		Investment
Managers		Investments
In New
Businesses		Total
 For the Three Months Ended March 31, 2021
Revenues$117,608 $113,294 $84,499 $136,419 $3,866 $455,686 
Expenses110,724 55,027 39,158 83,020 13,404 301,333 
Operating profit (loss)$6,884 $58,267 $45,341 $53,399 $(9,538)$154,353 
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, 2022 and 2021 is as follows:
20222021
Total operating profit from segments$238,823 $154,353 
Corporate overhead expenses(24,024)(21,516)
Income from operations$214,799 $132,837 
The following tables provide additional information for the three months ended March 31, 2022 and 2021 pertaining to the business segments:
 Capital Expenditures (1)Depreciation
 2022202120222021
Private Banks$7,222 $5,829 $5,106 $4,132 
Investment Advisors3,027 2,308 456 1,289 
Institutional Investors949 511 289 358 
Investment Managers4,024 1,631 2,020 2,053 
Investments in New Businesses205 139 44 146 
Total from business segments$15,427 $10,418 $7,915 $7,978 
Corporate overhead445 160 183 331 
$15,872 $10,578 $8,098 $8,309 
(1) Capital expenditures include additions to property and equipment and capitalized software.
 Amortization
 20222021
Private Banks$8,539 $8,576 
Investment Advisors3,233 2,627 
Institutional Investors2,283 426 
Investment Managers2,576 2,480 
Investments in New Businesses185 185 
Total from business segments$16,816 $14,294 
Corporate overhead71 58 
$16,887 $14,352