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Segment Disclosures (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Disaggregation of Revenue by Source | The following table disaggregates our revenue by source (in thousands):
| Three Months Ended March 31, 2024 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Consolidated |
Accounting, tax, advisory and consulting | $ | 372,630 |  |  | — |  | — |  | $ | 372,630 |  |
Core benefits and insurance services | — |  | 105,205 |  |  | — |  | 105,205 |  |
Non-core benefits and insurance services | — |  | 3,203 |  |  | — |  | 3,203 |  |
Managed networking, hardware services | — |  | — |  | 10,188 |  |  | 10,188 |  |
National practices consulting | — |  | — |  | 3,071 |  |  | 3,071 |  |
Total revenue | $ | 372,630 |  |  | $ | 108,408 |  |  | $ | 13,259 |  |  | $ | 494,297 |  |
| Three Months Ended March 31, 2023
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Consolidated
Accounting, tax, advisory and consulting | $ | 343,086 |  |  | — |  | — |  | $ | 343,086 |
Core benefits and insurance services | — |  | 96,617 |  |  | — |  | 96,617 |
Non-core benefits and insurance services | — |  | 3,437 |  |  | — |  | 3,437 |
Managed networking, hardware services | — |  | — |  | 8,954 |  |  | 8,954 |
National practices consulting | — |  | — |  | 2,512 |  |  | 2,512 |
Total revenue | $ | 343,086 |  |  | $ | 100,054 |  |  | $ | 11,466 |  |  | $ | 454,606 |
Schedule of Segment Information | Segment information for the three months ended March 31, 2024 and 2023 was as follows (in thousands):
| Three Months Ended March 31, 2024 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Corporate and Other |  | Total |
Revenue | $ | 372,630 |  |  | $ | 108,408 |  |  | $ | 13,259 |  |  | $ | — |  |  | $ | 494,297 |  |
Operating expenses | 265,561 |  |  | 83,637 |  |  | 11,933 |  |  | 15,354 |  |  | 376,485 |  |
Gross margin | 107,069 |  |  | 24,771 |  |  | 1,326 |  |  | (15,354) |  |  | 117,812 |  |
Corporate general and administrative expenses | — |  |  | — |  |  | — |  |  | 18,711 |  |  | 18,711 |  |
Operating income (loss) | 107,069 |  |  | 24,771 |  |  | 1,326 |  |  | (34,065) |  |  | 99,101 |  |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | — |  |  | — |  |  | (4,511) |  |  | (4,511) |  |
Other income, net | 86 |  |  | 44 |  |  | — |  |  | 9,294 |  |  | 9,424 |  |
Total other income, net | 86 |  |  | 44 |  |  | — |  |  | 4,783 |  |  | 4,913 |  |
Income before income tax expense | $ | 107,155 |  |  | $ | 24,815 |  |  | $ | 1,326 |  |  | $ | (29,282) |  |  | $ | 104,014 |  |
| Three Months Ended March 31, 2023 |
| Financial Services |  | Benefits and Insurance Services |  | National Practices |  | Corporate and Other |  | Total |
Revenue | $ | 343,086 |  |  | $ | 100,054 |  |  | $ | 11,466 |  |  | $ | — |  |  | $ | 454,606 |  |
Operating expenses | 244,443 |  |  | 76,923 |  |  | 10,583 |  |  | 9,062 |  |  | 341,011 |  |
Gross margin | 98,643 |  |  | 23,131 |  |  | 883 |  |  | (9,062) |  |  | 113,595 |  |
Corporate general and administrative expenses | — |  |  | — |  |  | — |  |  | 15,598 |  |  | 15,598 |  |
Operating income (loss) | 98,643 |  |  | 23,131 |  |  | 883 |  |  | (24,660) |  |  | 97,997 |  |
Other income (expense): |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | (1) |  |  | — |  |  | (3,640) |  |  | (3,641) |  |
Gain on sale of operations, net | 99 |  |  | — |  |  | — |  |  | — |  |  | 99 |  |
Other income, net | 255 |  |  | 177 |  |  | — |  |  | 4,680 |  |  | 5,112 |  |
Total other income, net | 354 |  |  | 176 |  |  | — |  |  | 1,040 |  |  | 1,570 |  |
Income (loss) before income tax expense | $ | 98,997 |  |  | $ | 23,307 |  |  | $ | 883 |  |  | $ | (23,620) |  |  | $ | 99,567 |  |

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