XML 57 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Disclosures
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Segment Disclosures

22.    Segment Disclosures

CBIZ’s business units have been aggregated into three practice groups: Financial Services, Employee Services and National Practices. The business units have been aggregated based on the following factors: similarity of the products and services provided to clients, similarity of the regulatory environment and similarity of economic conditions affecting long-term performance. The business units are managed along these segment lines. A general description of services provided by practice group is provided in the table below.

 

Financial Services

   

Employee Services

   

National Practices

• Accounting

• Tax

• Financial Advisory

• Valuation

• Litigation Support

• Government Health Care Consulting

• Risk Advisory Services

• Real Estate Advisory

   

• Employee Benefits

• Property & Casualty

• Retirement Plan Services

• Payroll Services

• Life Insurance

• Human Capital Services

• Compensation Consulting

• Executive Recruiting

• Actuarial Services

    • Managed Networking and
Hardware Services

• Health Care Consulting

Corporate and Other.    Included in Corporate and Other are operating expenses that are not directly allocated to the individual business units. These expenses are primarily comprised of certain health care costs, gains or losses attributable to assets held in the Company’s deferred compensation plan, share-based compensation, consolidation and integration charges, certain professional fees, certain advertising costs and other various expenses.

Accounting policies of the practice groups are the same as those described in Note 1. Upon consolidation, intercompany accounts and transactions are eliminated, thus inter-segment revenue is not included in the measure of profit or loss for the practice groups. Performance of the practice groups is evaluated on operating income excluding those costs listed above, which are reported in the “Corporate and Other” segment.

CBIZ operates in the United States and Canada and revenue generated from such operations during the years ended December 31, 2013, 2012 and 2011 was as follows (in thousands):

 

     Year Ended December 31,  
     2013      2012      2011  

United States

    $ 690,329       $ 624,883       $ 589,605   

Canada

      1,704         1,655         1,665   
  

 

 

     

 

 

     

 

 

  

Total Revenue

    $ 692,033       $ 626,538       $ 591,270   
  

 

 

     

 

 

     

 

 

  

There is no one customer that represents a significant portion of CBIZ’s revenue.

 

Segment information for the years ended December 31, 2013, 2012 and 2011 was as follows (in thousands):

 

     Year Ended December 31, 2013  
     Financial
Services		      Employee
Services		     National
Practices		      Corporate
and Other		     Total  

Revenue

    $ 456,649       $ 204,863      $ 30,521       $ —      $ 692,033   

Operating expenses

      395,976         168,696        27,589         16,469        608,730   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Gross margin

      60,673         36,167        2,932         (16,469 )      83,303   

Corporate general & admin

      —         —        —         34,398        34,398   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Operating income (loss)

      60,673         36,167        2,932         (50,867 )      48,905   

Other income (expense):

             

Interest expense

      —         (24 )      —         (15,350 )      (15,374 ) 

Gain on sale of operations, net

      —         —        —         79        79   

Other income, net

      492         297        1         7,027        7,817   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Total other income (expense)

      492         273        1         (8,244 )      (7,478 ) 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Income (loss) from continuing operations before income tax expense

    $ 61,165       $ 36,440      $ 2,933       $ (59,111 )    $ 41,427   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

     Year Ended December 31, 2012  
     Financial
Services		      Employee
Services		     National
Practices		      Corporate
and Other		     Total  

Revenue

    $ 410,195       $ 186,217      $ 30,126       $ —      $ 626,538   

Operating expenses

      357,378         155,311        26,713         16,084        555,486   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Gross margin

      52,817         30,906        3,413         (16,084 )      71,052   

Corporate general & admin

      —         —        —         30,210        30,210   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Operating income (loss)

      52,817         30,906        3,413         (46,294 )      40,842   

Other income (expense):

             

Interest expense

      —         (30 )      —         (14,969 )      (14,999 ) 

Gain on sale of operations, net

      —         —        —         2,766        2,766   

Other income, net

      2,063         1,086        2         5,063        8,214   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Total other income (expense)

      2,063         1,056        2         (7,140 )      (4,019 ) 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Income (loss) from continuing operations before income tax expense

    $ 54,880       $ 31,962      $ 3,415       $ (53,434 )    $ 36,823   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

     Year Ended December 31, 2011  
     Financial
Services		     Employee
Services		     National
Practices		      Corporate
and Other		     Total  

Revenue

    $ 389,743      $ 171,205      $ 30,322       $ —      $ 591,270   

Operating expenses

      336,206        144,528        26,222         11,572        518,528   
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Gross margin

      53,537        26,677        4,100         (11,572 )      72,742   

Corporate general & admin

      —        —        —         31,533        31,533   
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Operating income (loss)

      53,537        26,677        4,100         (43,105 )      41,209   

Other income (expense):

            

Interest expense

      (2 )      (28 )      —         (16,017 )      (16,047 ) 

Gain on sale of operations, net

      —        —        —         2,920        2,920   

Other income, net

      26        780        10         2,385        3,201   
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Total other income (expense)

      24        752        10         (10,712 )      (9,926 ) 
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Income (loss) from continuing operations before income tax expense

    $ 53,561      $ 27,429      $ 4,110       $ (53,817 )    $ 31,283