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v3.20.2

Segment Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Summary of Disaggregation of Revenue by Source | The following table disaggregates our revenue by source (in thousands):
|  | Three Months Ended September 30, 2020 |
|  | Financial |  |  | Benefits & |  |  | National |  |  |  |  |
|  | Services |  |  | Insurance |  |  | Practices |  |  | Consolidated |
Accounting, tax, advisory and consulting |  | $ | 155,499 |  |  | $ | — |  |  | $ | — |  |  | $ | 155,499 |
Core Benefits and Insurance Services |  |  | — |  |  |  | 71,497 |  |  |  | — |  |  |  | 71,497 |
Non-core Benefits and Insurance Services |  |  | — |  |  |  | 2,384 |  |  |  | — |  |  |  | 2,384 |
Managed networking, hardware services |  |  | — |  |  |  | — |  |  |  | 6,592 |  |  |  | 6,592 |
National Practices consulting |  |  | — |  |  |  | — |  |  |  | 2,417 |  |  |  | 2,417 |
Total revenue |  | $ | 155,499 |  |  | $ | 73,881 |  |  | $ | 9,009 |  |  | $ | 238,389 |
|  | Three Months Ended September 30, 2019 |
|  | Financial |  |  | Benefits & |  |  | National |  |  |  |  |
|  | Services |  |  | Insurance |  |  | Practices |  |  | Consolidated |
Accounting, tax, advisory and consulting |  | $ | 153,794 |  |  | $ | — |  |  | $ | — |  |  | $ | 153,794 |
Core Benefits and Insurance |  |  | — |  |  |  | 73,409 |  |  |  | — |  |  |  | 73,409 |
Non-core Benefits and Insurance |  |  | — |  |  |  | 3,551 |  |  |  | — |  |  |  | 3,551 |
Managed networking, hardware services |  |  | — |  |  |  | — |  |  |  | 6,553 |  |  |  | 6,553 |
National Practices consulting |  |  | — |  |  |  | — |  |  |  | 2,483 |  |  |  | 2,483 |
Total revenue |  | $ | 153,794 |  |  | $ | 76,960 |  |  | $ | 9,036 |  |  | $ | 239,790 |
|  | Nine Months Ended September 30, 2020 |
|  | Financial |  |  | Benefits & |  |  | National |  |  |  |  |
|  | Services |  |  | Insurance |  |  | Practices |  |  | Consolidated |
Accounting, tax, advisory and consulting |  | $ | 498,359 |  |  | $ | — |  |  | $ | — |  |  | $ | 498,359 |
Core Benefits and Insurance Services |  |  | — |  |  |  | 219,362 |  |  |  | — |  |  |  | 219,362 |
Non-core Benefits and Insurance Services |  |  | — |  |  |  | 8,071 |  |  |  | — |  |  |  | 8,071 |
Managed networking, hardware services |  |  | — |  |  |  | — |  |  |  | 19,748 |  |  |  | 19,748 |
National Practices consulting |  |  | — |  |  |  | — |  |  |  | 7,247 |  |  |  | 7,247 |
Total revenue |  | $ | 498,359 |  |  | $ | 227,433 |  |  | $ | 26,995 |  |  | $ | 752,787 |
|  | Nine Months Ended September 30, 2019 |
|  | Financial |  |  | Benefits & |  |  | National |  |  |  |  |
|  | Services |  |  | Insurance |  |  | Practices |  |  | Consolidated |
Accounting, tax, advisory and consulting |  | $ | 493,311 |  |  | $ | — |  |  | $ | — |  |  | $ | 493,311 |
Core Benefits and Insurance Services |  |  | — |  |  |  | 216,394 |  |  |  | — |  |  |  | 216,394 |
Non-core Benefits and Insurance Services |  |  | — |  |  |  | 8,948 |  |  |  | — |  |  |  | 8,948 |
Managed networking, hardware services |  |  | — |  |  |  | — |  |  |  | 19,499 |  |  |  | 19,499 |
National Practices consulting |  |  | — |  |  |  | — |  |  |  | 7,134 |  |  |  | 7,134 |
Total revenue |  | $ | 493,311 |  |  | $ | 225,342 |  |  | $ | 26,633 |  |  | $ | 745,286 |
Summary of Segment Information | Segment information for the three months ended September 30, 2020 and 2019 was as follows (in thousands):
|  | Three Months Ended September 30, 2020 |
|  | Financial Services |  |  | Benefits and Insurance Services |  |  | National Practices |  |  | Corporate and Other |  |  | Total |
Revenue |  | $ | 155,499 |  |  | $ | 73,881 |  |  | $ | 9,009 |  |  | $ | — |  |  | $ | 238,389 |
Operating expenses |  |  | 129,922 |  |  |  | 62,013 |  |  |  | 8,070 |  |  |  | 4,755 |  |  |  | 204,760 |
Gross margin |  |  | 25,577 |  |  |  | 11,868 |  |  |  | 939 |  |  |  | (4,755 | ) |  |  | 33,629 |
Corporate general & admin |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11,339 |  |  |  | 11,339 |
Operating income (loss) |  |  | 25,577 |  |  |  | 11,868 |  |  |  | 939 |  |  |  | (16,094 | ) |  |  | 22,290 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | — |  |  |  | (10 | ) |  |  | — |  |  |  | (964 | ) |  |  | (974 | )
Gain (loss) on sale of operations, net |  |  | (76 | ) |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | (74 | )
Other income, net |  |  | (14 | ) |  |  | (36 | ) |  |  | — |  |  |  | 5,964 |  |  |  | 5,914 |
Total other income (expense) |  |  | (90 | ) |  |  | (44 | ) |  |  | 0 |  |  |  | 5,000 |  |  |  | 4,866 |
Income (loss) from continuing operations before income tax expense |  | $ | 25,487 |  |  | $ | 11,824 |  |  | $ | 939 |  |  | $ | (11,094 | ) |  | $ | 27,156 |
|  | Three Months Ended September 30, 2019 |
|  | Financial Services |  |  | Benefits and Insurance Services |  |  | National Practices |  |  | Corporate and Other |  |  | Total |
Revenue |  | $ | 153,794 |  |  | $ | 76,960 |  |  | $ | 9,036 |  |  | $ | — |  |  | $ | 239,790 |
Operating expenses |  |  | 128,231 |  |  |  | 63,390 |  |  |  | 8,104 |  |  |  | 9,421 |  |  |  | 209,146 |
Gross margin |  |  | 25,563 |  |  |  | 13,570 |  |  |  | 932 |  |  |  | (9,421 | ) |  |  | 30,644 |
Corporate general & admin |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11,670 |  |  |  | 11,670 |
Operating income (loss) |  |  | 25,563 |  |  |  | 13,570 |  |  |  | 932 |  |  |  | (21,091 | ) |  |  | 18,974 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | (1,507 | ) |  |  | (1,521 | )
Gain (loss) on sale of operations, net |  |  | 16 |  |  |  | — |  |  |  | — |  |  |  | (161 | ) |  |  | (145 | )
Other income, net |  |  | 14 |  |  |  | 9 |  |  |  | — |  |  |  | 6,744 |  |  |  | 6,767 |
Total other income (expense) |  |  | 30 |  |  |  | (5 | ) |  |  | 0 |  |  |  | 5,076 |  |  |  | 5,101 |
Income (loss) from continuing operations before income tax expense |  | $ | 25,593 |  |  | $ | 13,565 |  |  | $ | 932 |  |  | $ | (16,015 | ) |  | $ | 24,075 |
Segment information for the nine months ended September 30, 2020 and 2019 was as follows (in thousands):
|  | Nine Months Ended September 30, 2020 |
|  | Financial Services |  |  | Benefits and Insurance Services |  |  | National Practices |  |  | Corporate and Other |  |  | Total |
Revenue |  | $ | 498,359 |  |  | $ | 227,433 |  |  | $ | 26,995 |  |  | $ | — |  |  | $ | 752,787 |
Operating expenses |  |  | 395,937 |  |  |  | 188,519 |  |  |  | 24,343 |  |  |  | 4,804 |  |  |  | 613,603 |
Gross margin |  |  | 102,422 |  |  |  | 38,914 |  |  |  | 2,652 |  |  |  | (4,804 | ) |  |  | 139,184 |
Corporate general & admin |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32,988 |  |  |  | 32,988 |
Operating income (loss) |  |  | 102,422 |  |  |  | 38,914 |  |  |  | 2,652 |  |  |  | (37,792 | ) |  |  | 106,196 |
Other income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | — |  |  |  | (30 | ) |  |  | — |  |  |  | (4,137 | ) |  |  | (4,167 | )
Gain (loss) on sale of operations, net |  |  | (25 | ) |  |  | 103 |  |  |  | — |  |  |  | — |  |  |  | 78 |
Other (expense) income, net |  |  | 32 |  |  |  | 190 |  |  |  | 1 |  |  |  | 3,227 |  |  |  | 3,450 |
Total other income |  |  | 7 |  |  |  | 263 |  |  |  | 1 |  |  |  | (910 | ) |  |  | (639 | )
Income (loss) from continuing operations before income tax expense |  | $ | 102,429 |  |  | $ | 39,177 |  |  | $ | 2,653 |  |  | $ | (38,702 | ) |  | $ | 105,557 |
|  | Nine Months Ended September 30, 2019 |
|  | Financial Services |  |  | Benefits and Insurance Services |  |  | National Practices |  |  | Corporate and Other |  |  | Total |
Revenue |  | $ | 493,311 |  |  | $ | 225,342 |  |  | $ | 26,633 |  |  | $ | — |  |  | $ | 745,286 |
Operating expenses |  |  | 390,847 |  |  |  | 185,836 |  |  |  | 24,308 |  |  |  | 21,799 |  |  |  | 622,790 |
Gross margin |  |  | 102,464 |  |  |  | 39,506 |  |  |  | 2,325 |  |  |  | (21,799 | ) |  |  | 122,496 |
Corporate general & admin |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 33,916 |  |  |  | 33,916 |
Operating income (loss) |  |  | 102,464 |  |  |  | 39,506 |  |  |  | 2,325 |  |  |  | (55,715 | ) |  |  | 88,580 |
Other income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | — |  |  |  | (38 | ) |  |  | — |  |  |  | (4,471 | ) |  |  | (4,509 | )
Gain (loss) on sale of operations, net |  |  | 563 |  |  |  | — |  |  |  | — |  |  |  | (161 | ) |  |  | 402 |
Other (expense) income, net |  |  | (188 | ) |  |  | 204 |  |  |  | 1 |  |  |  | 12,699 |  |  |  | 12,716 |
Total other income |  |  | 375 |  |  |  | 166 |  |  |  | 1 |  |  |  | 8,067 |  |  |  | 8,609 |
Income (loss) from continuing operations before income tax expense |  | $ | 102,839 |  |  | $ | 39,672 |  |  | $ | 2,326 |  |  | $ | (47,648 | ) |  | $ | 97,189 |

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