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v3.22.1

Segment Disclosures (Tables) | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Summary of Disaggregation of Revenue by Source | The following table disaggregates our revenue by source (in thousands):
| Three Months Ended March 31, 2022 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Consolidated |
Accounting, tax, advisory and consulting | $ | 288,746 |  |  | — |  | — |  | $ | 288,746 |  |
Core benefits and insurance services | — |  | 88,936 |  |  | — |  | 88,936 |  |
Non-core benefits and insurance services | — |  | 3,550 |  |  | — |  | 3,550 |  |
Managed networking, hardware services | — |  | — |  | 7,921 |  |  | 7,921 |  |
National practices consulting | — |  | — |  | 2,569 |  |  | 2,569 |  |
Total revenue | $ | 288,746 |  |  | $ | 92,486 |  |  | $ | 10,490 |  |  | $ | 391,722 |  |
| Three Months Ended March 31, 2021 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Consolidated |
Accounting, tax, advisory and consulting | $ | 204,149 |  |  | — |  | — |  | $ | 204,149 |  |
Core benefits and insurance services | — |  | 84,070 |  |  | — |  | 84,070 |  |
Non-core benefits and insurance services | — |  | 3,169 |  |  | — |  | 3,169 |  |
Managed networking, hardware services | — |  | — |  | 6,895 |  |  | 6,895 |  |
National practices consulting | — |  | — |  | 2,447 |  |  | 2,447 |  |
Total revenue | $ | 204,149 |  |  | $ | 87,239 |  |  | $ | 9,342 |  |  | $ | 300,730 |  |
Summary of Segment Information | Segment information for the three months ended March 31, 2022 and 2021 was as follows (in thousands):
| Three Months Ended March 31, 2022 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Corporate and Other |  | Total |
Revenue | $ | 288,746 |  |  | $ | 92,486 |  |  | $ | 10,490 |  |  | $ | — |  |  | $ | 391,722 |  |
Operating expenses (income) | 209,800 |  |  | 72,657 |  |  | 9,576 |  |  | (1,734) |  |  | 290,299 |  |
Gross margin | 78,946 |  |  | 19,829 |  |  | 914 |  |  | 1,734 |  |  | 101,423 |  |
Corporate general and administrative expenses | — |  |  | — |  |  | — |  |  | 16,309 |  |  | 16,309 |  |
Operating income (loss) | 78,946 |  |  | 19,829 |  |  | 914 |  |  | (14,575) |  |  | 85,114 |  |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | — |  |  | — |  |  | (1,259) |  |  | (1,259) |  |
Other income (expense), net | 86 |  |  | (24) |  |  | — |  |  | (6,465) |  |  | (6,403) |  |
Total other income (expense), net | 86 |  |  | (24) |  |  | — |  |  | (7,724) |  |  | (7,662) |  |
Income (loss) from continuing operations before income tax expense | $ | 79,032 |  |  | $ | 19,805 |  |  | $ | 914 |  |  | $ | (22,299) |  |  | $ | 77,452 |  |
| Three Months Ended March 31, 2021 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Corporate and Other |  | Total |
Revenue | $ | 204,149 |  |  | $ | 87,239 |  |  | $ | 9,342 |  |  | $ | — |  |  | $ | 300,730 |  |
Operating expenses | 141,746 |  |  | 66,933 |  |  | 8,541 |  |  | 6,751 |  |  | 223,971 |  |
Gross margin | 62,403 |  |  | 20,306 |  |  | 801 |  |  | (6,751) |  |  | 76,759 |  |
Corporate general and administrative expenses | — |  |  | — |  |  | — |  |  | 14,483 |  |  | 14,483 |  |
Operating income (loss) | 62,403 |  |  | 20,306 |  |  | 801 |  |  | (21,234) |  |  | 62,276 |  |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | — |  |  | — |  |  | (877) |  |  | (877) |  |
Other income, net | 98 |  |  | 174 |  |  | — |  |  | 4,517 |  |  | 4,789 |  |
Total other income, net | 98 |  |  | 174 |  |  | — |  |  | 3,640 |  |  | 3,912 |  |
Income (loss) from continuing operations before income tax expense | $ | 62,501 |  |  | $ | 20,480 |  |  | $ | 801 |  |  | $ | (17,594) |  |  | $ | 66,188 |  |

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