XML 62 R39.htm IDEA: XBRL DOCUMENT v3.22.4

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of 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, 2022, 2021 and 2020:

						Private Banks						Investment Advisors						Institutional Investors						Investment Managers						Investments in New Businesses						Total
						For the Year Ended December 31, 2022
Revenues						$	575,625					$	447,766					$	323,353					$	624,918					$	19,375					$	1,991,037
Expenses						473,209						251,650						172,252						404,850						45,159						1,347,120
Operating profit (loss)						$	102,416					$	196,116					$	151,101					$	220,068					$	(25,784)					$	643,917

						Private Banks						Investment Advisors						Institutional Investors						Investment Managers						Investments in New Businesses						Total
						For the Year Ended December 31, 2021
Revenues						$	493,570					$	482,949					$	343,805					$	581,157					$	16,828					$	1,918,309
Expenses						462,796						240,334						168,070						348,655						53,219						1,273,074
Operating profit (loss)						$	30,774					$	242,615					$	175,735					$	232,502					$	(36,391)					$	645,235

						Private Banks						Investment Advisors						Institutional Investors						Investment Managers						Investments in New Businesses						Total
						For the Year Ended December 31, 2020
Revenues						$	455,393					$	407,564					$	317,627					$	489,462					$	14,012					$	1,684,058
Expenses						446,481						205,913						149,909						308,999						52,871						1,164,173
Operating profit (loss)						$	8,912					$	201,651					$	167,718					$	180,463					$	(38,859)					$	519,885

Schedule of 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, 2022, 2021 and 2020 is as follows:

Year Ended December 31,						2022						2021						2020
Total operating profit from segments above						$	643,917					$	645,235					$	519,885
Corporate overhead expenses (1)						(168,164)						(91,854)						(73,998)
Income from operations						$	475,753					$	553,381					$	445,887

(1) Corporate overhead expenses in 2022 include the total costs for the Voluntary Separation Program (See Note 14).

Schedule of Additional Information Pertaining to Business Segments

The following tables provide additional information for the years ended December 31, 2022, 2021 and 2020 pertaining to our business segments:

						Capital Expenditures (2)																		Depreciation
Year Ended December 31,						2022						2021						2020						2022						2021						2020
Private Banks						$	32,454					$	26,472					$	29,061					$	21,237					$	19,040					$	16,206
Investment Advisors						13,027						11,100						15,588						1,933						3,646						4,821
Institutional Investors						3,884						2,614						3,958						1,142						1,241						1,214
Investment Managers						20,968						10,275						25,909						8,468						8,185						7,336
Investments in New Businesses						787						924						1,211						164						351						341
Total from business segments						$	71,120					$	51,385					$	75,727					$	32,944					$	32,463					$	29,918
Corporate Overhead						1,714						1,151						2,840						713						1,018						1,041
						$	72,834					$	52,536					$	78,567					$	33,657					$	33,481					$	30,959

(2) Capital expenditures include additions to property and equipment and capitalized software.

						Amortization
Year Ended December 31,						2022						2021						2020
Private Banks						$	25,886					$	34,159					$	30,240
Investment Advisors						9,905						11,654						10,694
Institutional Investors						8,166						2,321						1,707
Investment Managers						9,400						9,955						9,365
Investments in New Businesses						660						739						739
Total from business segments						$	54,017					$	58,828					$	52,745
Corporate Overhead						263						324						230
						$	54,280					$	59,152					$	52,975

Schedule of 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,						2022						2021						2020
United States						$	1,623,022					$	1,629,527					$	1,427,152
International operations						368,015						288,782						256,906
						$	1,991,037					$	1,918,309					$	1,684,058

The following table presents assets based on their location:

						2022						2021
United States						$	1,983,102					$	1,926,867
International operations						400,451						427,835
						$	2,383,553					$	2,354,702

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1)
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Name:	us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration