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Summary of Significant Accounting Policies

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Selected Terms Used in Notes to the Consolidated Financial Statements

ASA – Administrative Service Agreement.

ASC – Accounting Standards Codification.

ASU – Accounting Standards Update.

CPA firm – Certified Public Accounting firm.

FASB – The Financial Accounting Standards Board.

GAAP – United States Generally Accepted Accounting Principles.

LIBOR – London Interbank Offered Rate.

Legacy ASC Topic 840 – ASC Topic 840, Leases.

New Lease Standard – ASU No. 2016-12, Leases.

ROU – Right-of-Use Asset.

SEC – United States Securities and Exchange Commission.

Tax Act – Tax Cuts and Jobs Act of 2017.

Topic 220 – ASU No. 2018-02, Income Statement – Reporting Comprehensive Income.

Topic 606 – ASU No. 2014-09, Revenue from Contracts with Customers.

Topic 815 – ASU No. 2017-12, Derivatives and Hedging.

Description of Business: CBIZ, Inc. is a diversified services company which, acting through its subsidiaries, has been providing professional business services since 1996, primarily to small and medium-sized businesses, as well as individuals, governmental entities, and not-for-profit enterprises throughout the United States and parts of Canada. CBIZ, Inc. manages and reports its operations along three practice groups; Financial Services, Benefits and Insurance Services and National Practices. A further description of products and services offered by each of the practice groups is provided in Note 16, Segment Disclosures, to the accompanying consolidated financial statements.

Basis of Consolidation: The accompanying unaudited condensed consolidated financial statements include the operations of CBIZ, Inc. and all of its wholly-owned subsidiaries (“CBIZ”, the “Company”, “we”, “us”, or “our”), after elimination of all intercompany balances and transactions. These condensed consolidated financial statements do not reflect the operations or accounts of variable interest entities as the impact is not material to the financial condition, results of operations or cash flows of CBIZ.

Unaudited Interim Financial Statements: The condensed consolidated financial statements have been prepared in accordance with GAAP and applicable rules and regulations of the SEC regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018.

In the opinion of CBIZ management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial condition, results of operations, and cash flows for the interim periods presented, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2019.

Use of Estimates: The preparation of condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Changes in circumstances could cause actual results to differ materially from these estimates.

Changes in Accounting Policies: Except for the adoption of New Lease Standard, we have consistently applied the accounting policies for the periods presented as described in Note 1, Basis of Presentation and Significant Accounting Policies, to the consolidated financial statements contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018. Effective January 1, 2019, we have changed our accounting policy for the New Lease Standard as described below in Note 2, New Accounting Pronouncements.

Revision of Previously Reported Financial Information: The Company has corrected an immaterial error related to the presentation of cash equivalents on the condensed Consolidated Statement of Cash Flows related to amounts included within funds held for clients. The correction resulted in an increase of $73.6 million of cash used in investing activities for the period ended June 30, 2018, an increase of $148.9 million of cash, cash equivalents and restricted cash at January 1, 2018 and an increase of $75.3 million of cash, cash equivalents and restricted cash as of June 30, 2018 as reflected on the Consolidated Statement of Cash Flows.

New Accounting Pronouncements

6 Months Ended

Jun. 30, 2019

Accounting Changes And Error Corrections [Abstract]

NOTE 2. New Accounting Pronouncements

The FASB ASC is the sole source of authoritative GAAP other than the SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an accounting standard to communicate changes to the FASB codification. We assess and review the impact of all accounting standards. Any accounting standards not listed below were reviewed and determined to be either not applicable or are not expected to have a material impact on the consolidated financial statements of the Company.

Accounting Standards Adopted in 2019

Leases: Effective January 1, 2019, we adopted the New Lease Standard using the modified retrospective method of applying the new standard at the adoption date. We elected the package of practical expedients permitted under the transition guidance which allowed us to carry forward historical lease classifications. The adoption of the New Lease Standard had a significant impact on our consolidated balance sheets and resulted in the recording of the operating lease ROU assets and corresponding operating lease liabilities. The consolidated balance sheet prior to January 1, 2019 was not restated and continues to be reported under the Legacy ASC Topic 840, which did not require the recognition of operating lease ROU assets and liabilities. The expense recognition for operating leases and finance leases under the New Lease Standard is consistent with the Legacy ASC Topic 840, therefore, as a result, there is no significant impact on our results of operations, liquidity or debt covenant compliance under our current credit agreements.

The following table presents the impact of adopting the New Lease Standard on our consolidated balance sheet.

	Balance at				Balance at
	December 31, 2018		New Lease Standard		January 1, 2019
Operating lease right-of-use asset, net	$	—	$	148,884	$	148,884
Total assets		1,183,031		148,884		1,331,915
Operating lease liability - current		—		28,407		28,407
Total current liabilities		321,314		28,407		349,721
Operating lease liability - non-current		—		120,477		120,477
Total non-current liabilities		268,054		120,477		388,531
Total liabilities and stockholders' equity		1,183,031		148,884		1,331,915

Office facilities account for approximately 96% of our total leases. The lease liability for our office facilities is based on the present value of the remaining minimum lease payments, discounted utilizing our secured incremental borrowing rate at the effective date of January 1, 2019. We also have other leases that consist primarily of information technology equipment and automobiles. The present value of the lease liability associated with other leases are measured based on the discounted remaining minimum lease payments at the effective date of January 1, 2019. The Company has elected not to separate lease and non-lease components and elected the practical expedient to exclude short-term leases at adoption.

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income: On January 1, 2019, we adopted ASU 2018-02 which provides the optional election for the reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. The adoption of Topic 220 resulted in a reclassification between accumulated other comprehensive income and retained earnings of $0.1 million, and had no impact on our consolidated financial position or results of operations.

Derivatives and Hedging: On January 1, 2019, we adopted Topic 815 which improved and simplified accounting rules for hedge accounting to better present the economic results of an entity’s risk management activities in its financial statements and improves the disclosures of hedging arrangements. The adoption of Topic 815 did not have a material impact on our consolidated financial position or results of operations.

Accounting Standards Issued But Not Yet Adopted

Internal-Use Software: In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), which aligns the requirements for capitalizing implementation costs incurred in a service contract hosting arrangement with those of developing or obtaining internal-use software. This standard is effective for interim and annual reporting periods beginning after December 15, 2019, and early adoption is permitted. We do not expect this guidance to have a material impact on our consolidated financial position or results of operations.

Fair Value Measurement: In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This standard amends existing fair value measurement disclosure requirements by adding, changing, or removing certain disclosures. ASU No. 2018-13 will be effective for us as of January 1, 2020, with early adoption permitted. We are currently reviewing the effect of this new standard on our consolidated financial statements.

Revenue

6 Months Ended

Jun. 30, 2019

Revenue

Note 3. Revenue

The following table disaggregates our revenue by source (in thousands):

	Three Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	154,373	$	—	$	—	$	154,373
Core Benefits and Insurance Services		—		69,447		—		69,447
Non-core Benefits and Insurance Services		—		2,680		—		2,680
Managed networking, hardware services		—		—		6,522		6,522
National Practices consulting		—		—		2,476		2,476
Total revenue	$	154,373	$	72,127	$	8,998	$	235,498

	Three Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	151,737	$	—	$	—	$	151,737
Core Benefits and Insurance		—		68,978		—		68,978
Non-core Benefits and Insurance		—		3,775		—		3,775
Managed networking, hardware services		—		—		6,121		6,121
National Practices consulting		—		—		2,030		2,030
Total revenue	$	151,737	$	72,753	$	8,151	$	232,641

	Six Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	339,517	$	—	$	—	$	339,517
Core Benefits and Insurance Services		—		142,985		—		142,985
Non-core Benefits and Insurance Services		—		5,397		—		5,397
Managed networking, hardware services		—		—		12,946		12,946
National Practices consulting		—		—		4,651		4,651
Total revenue	$	339,517	$	148,382	$	17,597	$	505,496

	Six Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	332,340	$	—	$	—	$	332,340
Core Benefits and Insurance Services		—		143,100		—		143,100
Non-core Benefits and Insurance Services		—		6,983		—		6,983
Managed networking, hardware services		—		—		12,079		12,079
National Practices consulting		—		—		3,999		3,999
Other		—		—		230		230
Total revenue	$	332,340	$	150,083	$	16,308	$	498,731

Financial Services

Revenue primarily consists of professional service fees derived from traditional accounting services, tax return preparation, administrative services, financial and risk advisory, consulting and valuation services. Clients are billed for these services based upon a fixed-fee, an hourly rate, or an outcome-based fee. Time related to the performance of all services is maintained in a time and billing system.

Revenue for fixed-fee arrangements is recognized over time with progress measured in hours worked and anticipated realization. Anticipated realization is defined as the fixed fee divided by the product of the hours anticipated to complete a performance obligation and the standard billing rate. Anticipated realization rates are applied to hours charged to a contract when recognizing revenue. At the end of each reporting period, we evaluate the work performed to date to ensure that the amount of revenue recognized in each reporting period for the client arrangement is equal to the performance obligations met.

Revenue for time and expense arrangements is recognized over time with value being transferred through our hourly fee arrangement at expected net realizable rates per hour, plus agreed-upon out-of-pocket expenses. The cumulative impact on any subsequent revision in the estimated realizable value of unbilled fees for a particular client project is reflected in the period in which the change becomes known.

We applied the guidance of Topic 606 in determining the appropriate accounting for outcome-based arrangements. Prior to recognizing revenue, we estimate the transaction price, including variable consideration that is subject to a constraint based on risks specific to the arrangement. We evaluate the estimate in each reporting period and recognize revenue to the extent it is probable that a significant reversal of revenue will not occur. Revenue is recognized when the constraint is lifted at a point in time when the value is determined and verified by a third party.

Benefits and Insurance Services

Core Benefits and Insurance consists of group health benefits consulting, property and casualty, retirement plan services and payroll processing services. Revenue consists primarily of fee income for administering health and retirement plans and brokerage and agency commissions. Revenue also includes investment income related to client payroll funds that are held in CBIZ accounts, as is industry practice. Under the revenue recognition standard, the cost to obtain a contract must be capitalized unless the contract period is one year or less. We pay commissions monthly and require the recipient of the commission to be employed by us at the time of the payment. Failure to remain employed at the date the commission is payable results in the forfeiture of commissions that would otherwise be due. Therefore, we have determined that the requirement of continued employment is substantive and accordingly, do not consider the commissions to be incremental costs of obtaining the customer contract and consequently a contract acquisition cost is not recognized for those commissions.

Revenue related to group health benefits consulting consists of (i) commissions, (ii) fee income which can be fixed or variable based on a price per participant and (iii) contingent revenue.

•

Commission revenue and fee income are recognized over the contract period as these services are provided to clients continuously throughout the term of the arrangement. Our customers benefit from each month of service on its own and although volume and the number of participants may differ month to month, the obligation to perform substantially remains the same.

•

Contingent revenue arrangements are related to carrier-based performance targets. Due to the uncertainty of the outcome and the probability that a change in estimate would result in a significant reversal, we have applied a constraint on estimating revenue. Revenue is recognized when the constraint has been lifted which is the earlier of written notification that the target has been achieved or cash collection. Contingent revenue is not a significant revenue stream to our consolidated financial position or results of operations.

Revenue related to property and casualty consists of (i) commissions and (ii) contingent revenue.

•

Commissions relating to agency billing arrangements (pursuant to which we bill the insured, collect the funds and forward the premium to the insurance carrier less our commission) and direct billing arrangements (pursuant to which the insurance carrier bills the insured directly and forwards the commission to us) are both recognized on the effective date of the policy. Commission revenue is reported net of reserves for estimated policy cancellations and terminations. The cancellation and termination reserve is based upon estimates and assumptions using historical cancellation and termination experience and other current factors to project future experience.

•

Contingent revenue arrangements related to carrier-based performance targets include claim loss experience and other factors. Due to the uncertainty of the outcome and the probability that a change in estimate would result in a significant reversal, we have applied a constraint on estimating revenue. Revenue will be recognized when the constraint has been lifted which is the earlier of written notification that the target has been achieved or cash collection. Contingent revenue is not a significant revenue stream to our consolidated financial position or results of operations.

Revenue related to retirement plan services consist of (i) advisory, (ii) third party administration, and (iii) actuarial services.

•

Advisory revenue is based on the value of assets under management, as provided by a third party, multiplied by an agreed upon rate. Advisory services revenue is calculated monthly or quarterly based on the estimated value of assets under management, as it is earned over the duration of the reporting period and relates to performance obligations satisfied during that period. The variability related to the estimated asset values used to recognize revenue during the reporting period is resolved and the amount of related revenue recognized is adjusted when the actual value of assets under management is known.

•

Third party administration revenue is recognized over the contract period as these services are provided to clients continuously throughout the term of the arrangement. Our clients benefit from each month of service on its own and although volume may differ month to month, the obligation to perform substantially remains the same.

•

Actuarial revenue is recognized over the contract period with performance measured in hours in relation to the expected total hours. Under certain defined benefit plan administration arrangements, we charge new clients an initial, non-refundable, set-up fee as part of a multi-year service agreement. Revenue related to the set-up fees is deferred and recognized over the life of the contract or the expected customer relationship, whichever is longer.

Revenue related to payroll processing consists of a (i) fixed fee or (ii) variable fee based on a price per employee or check processed. Revenue is recognized when the actual payroll processing occurs. Our customers benefit from each month of service on its own and although volume and the variability may differ month to month, the obligation to perform substantially remains the same.

Non-core Benefits and Insurance Services consist of transactional businesses that tend to fluctuate. These include life insurance, wholesale agency benefits and talent and compensation services.

National Practices

Managed networking, hardware services revenue consists of installation, maintenance and repair of computer hardware. These services are charged to a single customer based on cost plus an agreed-upon markup percentage, an arrangement that has existed since 1999.

National Practices consulting revenue is based upon a fixed fee, an hourly rate, or a percentage of savings. Revenue for fixed fee and time and expense arrangements is recognized over the performance period based upon actual hours incurred.

Transaction Price Allocated to Future Obligations

We are required to disclose the aggregate amount of transaction price allocated to performance obligations that have not yet been satisfied as of the reporting date. The guidance provides certain practical expedients that limit this requirement, including performance obligations that are part of a contract that has the duration of one year or less. Since the majority of our contracts are one year or less in duration, we have applied this practical expedient related to quantifying remaining performance obligations. In regards to contracts with terms in excess of one year, certain

contract periods related to our government healthcare consulting, group health and benefits consulting, and property and casualty insurance businesses have an original specified contract duration in excess of one year; however, the agreements provide CBIZ and the client with the right to cancel or terminate the contract with no substantial penalty. We have applied the provisions of Topic 606 and the FASB Transition Resource Group memo number 10-14, and note that the definition of contract duration does not extend beyond the goods and services already transferred for contracts that provide both the Company and the client with the right to cancel or terminate the contract with no substantial penalty.

Accounts Receivable, Net

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Note 4. Accounts Receivable, Net

Accounts receivable, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Trade accounts receivable	$	200,721		$	159,992
Unbilled revenue, at net realizable value		84,753			60,684
Total accounts receivable		285,474			220,676
Allowance for doubtful accounts		(13,693	)		(13,389	)
Accounts receivable, net	$	271,781		$	207,287

Goodwill and Other Intangible Assets, Net

6 Months Ended

Jun. 30, 2019

Goodwill and Other Intangible Assets, Net

Note 5. Goodwill and Other Intangible Assets, Net

The components of goodwill and other intangible assets, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Goodwill	$	566,009		$	564,300
Intangible assets:
Client lists		182,184			181,564
Other intangible assets		9,452			9,447
Total intangible assets		191,636			191,011
Total goodwill and intangibles assets		757,645			755,311
Accumulated amortization:
Client lists		(119,306	)		(112,905	)
Other intangible assets		(5,914	)		(5,397	)
Total accumulated amortization		(125,220	)		(118,302	)
Goodwill and other intangible assets, net	$	632,425		$	637,009

Depreciation and Amortization

6 Months Ended

Jun. 30, 2019

Depreciation and Amortization

Note 6. Depreciation and Amortization

Depreciation and amortization expense for property and equipment and intangible assets for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Operating expenses	$	5,282	$	5,825	$	10,906	$	11,507
Corporate general and administrative expenses		35		76		70		169
Total depreciation and amortization expense	$	5,317	$	5,901	$	10,976	$	11,676

Debt and Financing Arrangements

6 Months Ended

Jun. 30, 2019

Debt and Financing Arrangements

Note 7. Debt and Financing Arrangements

Our primary financing arrangement is the $400 million unsecured credit facility, by and among CBIZ Operations, Inc., CBIZ, Inc. and Bank of America, N.A., as administrative agent and bank, and other participating banks (as amended and restated, the “2018 credit facility” and, prior to being amended and restated by the 2018 credit facility, the “2014 credit facility”), which provides us with the capital necessary to meet our working capital needs as well as

the flexibility to continue with our strategic initiatives, including business acquisitions and share repurchases. The 2018 credit facility will mature in 2023. We also have an unsecured $20 million line of credit used to support our short-term funding requirements of payroll client fund obligations due to the investment of client funds, rather than liquidating client funds that have already been invested in available-for-sale securities. The line of credit, which terminates August 16, 2019, did not have a balance outstanding at June 30, 2019. As of June 30, 2019, we are in negotiations with the lender to extend this line of credit. Refer to our Annual Report on Form 10-K for the year ended December 31, 2018 for additional details of our debt and financing arrangements.

The balance outstanding under the 2018 credit facility was $159.0 million and $135.5 million at June 30, 2019 and December 31, 2018, respectively. Interest expense for the three months ended June 30, 2019 and 2018 was $1.6 million and $1.8 million, respectively. During the six months ended June 30, 2019 and 2018, interest expense under the 2018 credit facility and 2014 credit facility was $3.0 million and $3.6 million, respectively. We had approximately $229.2 million of available funds under the 2018 credit facility at June 30, 2019, net of outstanding letters of credit of $1.1 million. As of June 30, 2019, we were in compliance with our debt covenants.

Interest rates for the six months ended June 30, 2019 and 2018 were as follows:

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8. Commitments and Contingencies

Letters of Credit and Guarantees

We provide letters of credit to landlords (lessors) of our leased premises in lieu of cash security deposits, which totaled $1.1 million and $1.1 million at June 30, 2019 and December 31, 2018, respectively. In addition, we provide license bonds to various state agencies to meet certain licensing requirements. The amount of license bonds outstanding was $2.5 million and $2.9 million at June 30, 2019 and December 31, 2018, respectively.

Legal Proceedings

In 2010, CBIZ, Inc. and its subsidiary, CBIZ MHM, LLC (fka CBIZ Accounting, Tax & Advisory Services, LLC) (the “CBIZ Parties”), were named as defendants in lawsuits filed in the U.S. District Court for the District of Arizona and the Superior Court for Maricopa County, Arizona. The federal court case is captioned Robert Facciola, et al v. Greenberg Traurig LLP, et al, and the state court cases are captioned Victims Recovery, LLC v. Greenberg Traurig LLP, et al, Roger Ashkenazi, et al v. Greenberg Traurig LLP, et al, Mary Marsh, et al v. Greenberg Traurig LLP, et al; and ML Liquidating Trust v. Mayer Hoffman McCann, P.C. (“Mayer Hoffman”), et al. Prior to these suits CBIZ MHM, LLC was named as a defendant in Jeffrey C. Stone v. Greenberg Traurig LLP, et al.

These lawsuits arose out of the bankruptcy of Mortgages Ltd., a mortgage lender to developers in the Phoenix, Arizona area. Various other professional firms and individuals not related to the Company were also named defendants in these lawsuits. The lawsuits asserted claims for, among others things, violations of the Arizona Securities Act, common law fraud, and negligent misrepresentation, and sought to hold the CBIZ Parties vicariously liable for Mayer Hoffman’s conduct as Mortgage Ltd.’s auditor, as either a statutory control person under the Arizona Securities Act or a joint venturer under Arizona common law.

With the exception of claims being pursued by two plaintiffs from the Ashkenazi lawsuit (“Baldino Group”), all other related matters have been dismissed or settled without payment by the CBIZ Parties. The Baldino Group’s claims, which allege damages of approximately $16.0 million, are currently pending, though no trial date has been set.

On September 16, 2016, CBIZ, Inc. and its subsidiary CBIZ Benefits & Insurance Services, Inc. (“CBIZ Benefits”) were named as defendants in a lawsuit filed in the U.S. District Court for the Western District of Pennsylvania. The federal court case is brought by UPMC, d/b/a University of Pittsburgh Medical Center, and a health system it acquired, UPMC Altoona (formerly, Altoona Regional Health System). The lawsuit asserts professional negligence, breach of contract, and negligent misrepresentation claims against CBIZ, CBIZ Benefits and a former employee of CBIZ Benefits in connection with actuarial services provided by CBIZ Benefits to Altoona Regional Health System. The complaint seeks damages in an amount of no less than $142.0 million.

We cannot predict the outcome of the above matters or estimate the possible loss or range of possible loss, if any. Although the proceedings are subject to uncertainties inherent in the litigation process and the ultimate disposition of these proceedings is not presently determinable, we intend to vigorously defend these cases.

In addition to those items disclosed above, we are, from time to time, subject to claims and suits arising in the ordinary course of business.

Financial Instruments

6 Months Ended

Jun. 30, 2019

Financial Instruments

Note 9. Financial Instruments

Available-for-sale Debt Securities

In connection with certain services provided by our payroll operations, we collect funds from our clients’ accounts in advance of paying client obligations. These funds held for clients are segregated and invested in accordance with our investment policy, which requires all investments carry an investment grade rating at the time of initial investment. These investments, primarily consisting of corporate and municipal bonds and US treasury bills, are classified as available-for-sale and are included in the “Funds held for clients” line item in the accompanying Consolidated Balance Sheets. The par value of these investments totaled $59.0 million and $55.7 million at June 30, 2019 and December 31, 2018, respectively, and had maturity or callable dates ranging from August 2019 through February 2024. The following table summarizes activities related to these investments for the six months ended June 30, 2019 and the twelve months ended December 31, 2018 (in thousands):

	Six Months Ended			Twelve Months Ended
	June 30, 2019			December 31, 2018
Fair value at beginning of period	$	56,556		$	51,101
Purchases		13,920			18,426
Redemptions		(311	)		(1,793	)
Maturities		(10,245	)		(10,445	)
Decrease in bond premium		(357	)		(377	)
Fair market value adjustment		1,144			(356	)
Fair value at end of period	$	60,707		$	56,556

Interest Rate Swaps

We do not purchase or hold any derivative instruments for trading or speculative purposes. We utilize interest rate swaps to manage interest rate risk exposure associated with our floating-rate debt under the credit facility. Under these interest rate swap contracts, we receive cash flows from counterparties at variable rates based on the LIBOR and pay the counterparties a fixed rate. Refer to the Annual Report on Form 10-K for the year ended December 31, 2018 for further discussion on our interest rate swaps.

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	(427	)	Other non-current liability

	December 31, 2018
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	1,096		Other non-current assets

Under the terms of the interest rate swaps, we pay interest at a fixed rate of interest plus applicable margin as stated in the agreement, and receive interest that varies with the one-month LIBOR. The notional value, fixed rate of interest and expiration date of each interest rate swap as of June 30, 2019 was (i) $25 million – 1.300% - October 2020, (ii) $10 million – 1.120% - February 2021, (iii) $20 million – 1.770% - May 2022 and (iv) $15 million – 2.640% - June 2023. Refer to Note 10. Fair Value Measurements, for additional disclosures regarding fair value measurements.

The following table summarizes the effects of the interest rate swaps on the accompanying Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2019 and 2018 (in thousands):

	(Loss) Gain Recognized in AOCL, net of tax					(Loss) Reclassified from AOCL into Expense
	Three Months Ended					Three Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(730	)	$	176	$	(134	)	$	(87	)

	Six Months Ended					Six Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(1,157	)	$	626	$	(273	)	$	(125	)

Fair Value Measurements

6 Months Ended

Jun. 30, 2019

Fair Value Measurements

Note 10. Fair Value Measurements

The following table summarizes our assets and (liabilities) at June 30, 2019 and December 31, 2018, respectively, that are measured at fair value on a recurring basis subsequent to initial recognition and indicates the fair value hierarchy of the valuation techniques utilized by us to determine such fair value (in thousands):

	Level	June 30, 2019			December 31, 2018
Deferred compensation plan assets	1	$	100,365		$	84,435
Available-for-sale debt securities	1	$	60,707		$	56,556
Deferred compensation plan liabilities	1	$	(100,365	)	$	(84,435	)
Interest rate swaps	2	$	(427	)	$	1,096
Contingent purchase price liabilities	3	$	(28,005	)	$	(39,708	)

During the six months ended June 30, 2019 and 2018, there were no transfers between the valuation hierarchy Levels 1, 2 and 3. The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the six months ended June 30, 2019 and 2018 (pre-tax basis) (in thousands):

	2019			2018
Beginning balance – January 1	$	(39,708	)	$	(37,574	)
Additions from business acquisitions		(1,806	)		(12,361	)
Settlement of contingent purchase price liabilities		13,316			6,457
Change in fair value of contingencies		561			(2,562	)
Change in net present value of contingencies		(368	)		(488	)
Ending balance – June 30	$	(28,005	)	$	(46,528	)

Contingent Purchase Price Liabilities

Contingent purchase price liabilities result from our business acquisitions and are recorded at fair value at the time of acquisition and are presented as “Contingent purchase price liability — current” and “Contingent purchase price liability — non-current” in the accompanying Consolidated Balance Sheets. We estimate the fair value of our contingent purchase price liabilities using a probability-weighted discounted cash flow model. This fair value measure is based on significant inputs not observed in the market and thus represents a Level 3 measurement. Fair value measurements characterized within Level 3 of the fair value hierarchy are measured based on unobservable inputs that are supported by little or no market activity and reflect our own assumptions in measuring fair value.

We probability weight risk-adjusted estimates of future performance of acquired businesses, then calculate the contingent purchase price based on the estimates and discount them to present value representing management’s best estimate of fair value. The fair value of the contingent purchase price liabilities are reassessed quarterly based on assumptions provided by practice group leaders and business unit controllers together with our corporate finance department. Any change in the fair value estimate is recorded in the earnings of that period. Refer to Note 14, Acquisitions, for further discussion of our acquisitions and contingent purchase price liabilities.

The carrying amounts of our cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments, and the carrying value of bank debt approximates fair value as the interest rate on the bank debt is variable and approximates current market rates. As a result, the fair value measurement of our bank debt is considered to be Level 2.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Other Comprehensive Income

6 Months Ended

Jun. 30, 2019

Other Comprehensive Income

Note 11. Other Comprehensive Income

The following table is a summary of other comprehensive income and discloses the tax impact of each component of other comprehensive income for the three and six months ended June 30, 2019 and 2018 (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Net unrealized gain (loss) on available-for-sale securities, net of income taxes (1)	$	312		$	4		$	822		$	(326	)
Net unrealized (loss) gain on interest rate swaps, net of income taxes (2)		(730	)		176			(1,157	)		626
Foreign currency translation		(4	)		(6	)		(6	)		(12	)
Total other comprehensive income	$	(422	)	$	174		$	(341	)	$	288

(1)

Net of income tax expense of $116 and $1 for the three months ended June 30, 2019 and 2018, respectively, and net of income tax expense (benefit) of $304 and ($121) for the six months ended June 30, 2019 and 2018, respectively.

(2)

Net of income tax (benefit) expense of ($225) and $54 for the three months ended June 30, 2019 and 2018, respectively, and net of income tax (benefit) expense of ($358) and $193 for the six months ended June 30, 2019 and 2018, respectively.

Accumulated other comprehensive loss, net of tax, was approximately $0.7 million and $0.5 million for the period ending June 30, 2019 and December 31, 2018, respectively. Accumulated other comprehensive loss consisted of adjustments, net of tax, for unrealized gains and losses on available-for-sale securities and interest rate swaps, and foreign currency translation.

Employee Share Plans

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Employee Share Plans

Note 12. Employee Share Plans

On May 9, 2019, the CBIZ shareholders approved CBIZ, Inc. 2019 Stock Omnibus Incentive Plan, which amended and restated the CBIZ, Inc. 2014 Stock Incentive Plan (as amended and restated, the “2019 Plan”). The 2019 Plan expires in 2029 and provides for the grant of restricted stock awards, stock options and performance awards. The terms and vesting schedules for the share-based awards vary by type and date of grant. A maximum of 9.6 million stock-based compensation awards may be granted. Shares subject to award under the 2019 Plan may be either authorized but unissued shares of our common stock or treasury shares. Compensation expense for stock-based awards recognized during the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Stock options	$	479	$	1,030	$	998	$	1,548
Restricted stock awards		1,153		1,383		2,082		2,302
Performance share units		285		—		319		—
Total stock-based compensation expense	$	1,917	$	2,413	$	3,399	$	3,850

Stock Options and Restricted Stock Awards – The following table presents our stock options and restricted stock award activity during the six months ended June 30, 2019 (in thousands, except per share data):

	Stock Options					Restricted Stock Awards
	Number of Options			Weighted Average Exercise Price Per Share		Number of Shares			Weighted Average Grant-Date Fair Value (1)
Outstanding at beginning of year		3,622		$	11.97		632		$	15.35
Granted		—		$	—		227		$	19.78
Exercised or released		(378	)	$	8.05		(282	)	$	13.76
Expired or canceled		—		$	—		—		$	—
Outstanding at June 30, 2019		3,244		$	12.43		577		$	17.88
Exercisable at June 30, 2019		2,287		$	10.65

(1)

Represents weighted average market value of the shares; awards are granted at no cost to the recipients.

Performance Share Units (“PSUs”) – PSUs are earned based on our financial performance over a contractual term of three years and the associated expense is recognized over that period based on the fair value of the award. A three-year cliff vesting schedule of the PSUs is dependent upon the Company’s performance relative to pre-established goals based on earnings per share target (weighted 70%) and total growth in revenue (weighted 30%). The fair value of PSUs is calculated using the market value of a share of our common stock on the date of grant. For performance achieved above specified levels, the recipient may earn additional shares of stock, not to exceed 200% of the number of PSUs initially granted.

The following table presents our PSU award activity during the six months ended June 30, 2019 (in thousands, except per share data):

	PSUs		Grant-Date Fair Value Per Unit
Outstanding at beginning of year		—	$	—
Granted		173	$	19.82
Vested		—	$	—
Adjustments for performance results		—	$	—
Expired or cancelled		—	$	—
Outstanding at June 30, 2019		173	$	19.82

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Discontinued Operations And Disposal Groups [Abstract]

Earnings Per Share

Note 13. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three and six months ended June 30, 2019 and 2018 (in thousands, except per share data).

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator:
Income from continuing operations	$	16,614	$	13,121	$	54,179	$	48,931
Denominator:
Basic
Weighted average common shares outstanding		54,090		54,594		54,188		54,334
Diluted
Stock options (1)		1,188		1,550		1,247		1,500
Restricted stock awards (1)		176		290		225		329
Contingent shares (2)		41		3		41		3
Diluted weighted average common shares outstanding (3)		55,495		56,437		55,701		56,166
Basic earnings per share from continuing operations	$	0.31	$	0.24	$	1.00	$	0.90
Diluted earnings per share from continuing operations	$	0.30	$	0.23	$	0.97	$	0.87

(1)

A total of 0.5 million and 0.5 million share based awards were excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2019, respectively, and a total of 0.4 million and 0.7 million share based awards were excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2018, respectively, as their effect would be anti-dilutive.

(2)

Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future considerations have been met. Refer to Note 14, Acquisitions, for further details.

(3)

The denominator used in calculating diluted earnings per share did not include 173 thousand PSUs granted in March 2019. As of June 30, 2019, the performance conditions associated with these PSUs were not met and consequently none of these PSUs were considered as issuable for the three months and six months periods ended June 30, 2019.

Acquisitions

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Acquisitions

Note 14. Acquisitions

Our acquisition strategy focuses on businesses with a leadership team that is committed to best in class culture, extraordinary client service and cross-serving potential. CBIZ has a long history of acquiring businesses that share common cultural values with us and provide value-added services to the small and midsize business market. The valuation of any business is a subjective process and includes industry, geography, profit margins, expected cash flows, client retention, nature of recurring or non-recurring project-based work, growth rate assumptions and competitive market conditions.

Business Acquisitions in 2019

Effective January 1, 2019, we acquired substantially all of the assets of Wenner Group, LLC (“Wenner”), located in Denver, Colorado. Wenner is a full service accounting, tax, compliance and financial consulting firm. Operating results are reported in the Financial Services practice group.

Consideration for this acquisition consisted of approximately $1.3 million in cash consideration and $1.8 million in contingent consideration. Under the terms of the acquisition agreement, a portion of the purchase price is contingent on future performance of the business acquired. The maximum potential undiscounted amount of all future payments that we could be required to make under the contingent arrangements is $1.8 million, of which $0.6 million was recorded in “Contingent purchase price liability – current” and $1.2 million was recorded in “Contingent purchase price liability – non-current” in the accompanying Consolidated Balance Sheets at June 30, 2019. Refer to Note 10. Fair Value Measurements, for additional information regarding contingent purchase price liability fair value and fair value adjustments.

Annualized revenue attributable to Wenner is estimated to be approximately $2.4 million. Pro forma results of operations for this acquisition has not been presented because the effects of the acquisition was not significant to our “Income from continuing operations before income taxes.”

Business Acquisitions in 2018

During the first half of 2018, we acquired substantially all of the assets of two businesses; InR Advisory Services, LLC (“InR”), effective April 1, 2018, and Laurus Transaction Advisors, LLC (“Laurus”), effective February 1, 2018. InR, located in Media, Pennsylvania, provides investment advisory services for public and private sector clients and non-profit organizations. Operating results of InR are reported in the Benefits and Insurance Services practice group. Laurus, located in Denver, Colorado, provides financial and accounting due diligence and advisory services with respect to mergers and acquisition transactions to private equity groups and public and private sector companies. Operating results for Laurus are reported in the Financial Services practice group.

Aggregate consideration for the InR and Laurus acquisitions consisted of approximately $23.4 million in cash consideration, $0.9 million in CBIZ common stock and $12.4 million in contingent consideration. Under the terms of these acquisition agreements, a portion of the purchase price is contingent on future performance of the business acquired. The maximum potential undiscounted amount of all future payments that we could be required to make under the contingent arrangements is $12.4 million, of which $3.4 million was recorded in “Contingent purchase price liability – current” and $9 million was recorded in “Contingent purchase price liability – non-current” in the accompanying Consolidated Balance Sheets at June 30, 2018. Refer to Note 10. Fair Value Measurements, for additional information regarding contingent purchase price liability fair value and fair value adjustments.

Annualized revenue for these acquisitions is estimated to be approximately $9.1 million. Pro forma results of operations for these acquisitions have not been presented because the effects of the acquisitions were not significant to our “Income from continuing operations before income taxes.”

The following table summarizes the amounts of identifiable assets acquired, liabilities assumed and aggregate purchase price for the acquisitions for the six months ended June 30, 2019 and 2018 (in thousands):

	Six Months Ended
	June 30,
	2019			2018
Cash	$	—		$	306
Accounts receivable, net		550			1,920
Other assets		5			12
Identifiable intangible assets		654			3,864
Current liabilities		(288	)		(1,717	)
Total identifiable net assets	$	921		$	4,385
Goodwill		2,165			32,255
Aggregate purchase price	$	3,086		$	36,640

The goodwill of $2.2 million and $32.3 million arising from the acquisitions in the first half of 2019 and 2018, respectively, primarily results from expected future earnings and cash flows from the existing management team, as well as the synergies created by the integration of the new business within our organization, including cross-selling opportunities expected with our Financial Services practice group and the Benefits and Insurance Services practice group, to help strengthen our existing service offerings and expand our market position. All of the goodwill is deductible for income tax purposes.

Acquisitions of Client Lists

Except for client lists acquired through business acquisitions, we did not purchase any client lists during the six months ended June 30, 2019 and 2018, respectively.

Change in Contingent Purchase Price Liability for Previous Acquisitions

During the first half of 2019 and 2018, the fair value of the contingent purchase price liability related to prior acquisitions decreased by $0.2 million and increased by $3.1 million, respectively. The change in fair value during the first half of 2019 is mostly attributable to subsequent measurement adjustments based on projected future results of the acquired businesses, net present value adjustments and changes in stock price, while the change in fair value for the first half of 2018 is mostly attributable to the change in stock price related to the mark-to-market adjustment of future common stock issuances. These adjustments are included in “Other income (expense), net” in the accompanying Consolidated Statements of Comprehensive Income.

Contingent Payments for Previous Business Acquisitions and Client Lists

We paid $11.3 million in cash and issued approximately 98,000 shares of our common stock during the six months ended June 30, 2019 for previous acquisitions. For the same period in 2018, we paid $4.1 million in cash and issued approximately 56,000 shares of our common stock for previous acquisitions. For the first half of 2019 and 2018, we paid approximately $0.4 million and $0.5 million in cash for previous client list purchases.

Discontinued Operations and Divestitures

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Divestitures

Note 15. Discontinued Operations and Divestitures

We will divest (through sale or closure) business operations that do not contribute to our long-term objectives for growth, or that are not complementary to our target service offerings and markets.

Discontinued Operations

Divestitures are classified as discontinued operations provided they meet the criteria and treatment as discontinued operations. Discontinued operations primarily consist of two insignificant businesses units under the Financial Services practice group that were sold in 2015. During the first half of both 2019 and 2018, we did not discontinue the operations of any of our businesses.

Divestitures

Divested operations and assets that do not qualify for treatment as discontinued operations are recorded as “Gain on sale of operations, net” in the accompanying Consolidated Statements of Comprehensive Income. We recorded a gain of $0.6 million in the first half of 2019 related to a small accounting firm in the Financial Services practice group. We recorded a gain of $0.7 million in the first half of 2018 related to a small book of business under the Benefits and Insurance Services practice group.

Segment Disclosures

6 Months Ended

Jun. 30, 2019

Segment Disclosures

Note 16. Segment Disclosures

Our business units have been aggregated into three practice groups: Financial Services, Benefits and Insurance 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 in which they operate; 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 each practice group is provided in the table below.

Financial Services

Benefits and Insurance Services

National Practices

• Accounting and Tax

• Government Healthcare Consulting

• Financial Advisory

• Valuation

• Risk & Advisory Services

• Group Health Benefits Consulting

• Payroll

• Property & Casualty

• Retirement Plan Services

• Managed Networking and Hardware Services

• Healthcare 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 our non-qualified 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, Basis of Presentation and Significant Accounting Policies, to the Annual Report on Form 10-K for the year ended December 31, 2018. 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.

Segment information for the three and six months ended June 30, 2019 and 2018 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below.

	Three Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	154,373		$	72,127		$	8,998	$	—		$	235,498
Operating expenses		128,158			61,075			8,204		711			198,148
Gross margin		26,215			11,052			794		(711	)		37,350
Corporate general & admin		—			—			—		10,566			10,566
Operating income (loss)		26,215			11,052			794		(11,277	)		26,784
Other (expense) income:
Interest expense		—			(14	)		—		(1,573	)		(1,587	)
Gain on sale of operations, net		50			—			—		—			50
Other (expense) income, net		(66	)		174			1		(3,420	)		(3,311	)
Total other (expense) income		(16	)		160			1		(4,993	)		(4,848	)
Income (loss) from continuing operations before income tax expense	$	26,199		$	11,212		$	795	$	(16,270	)	$	21,936

	Three Months Ended June 30, 2018
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	151,737		$	72,753		$	8,151	$	—		$	232,641
Operating expenses		129,070			61,165			7,567		7,300			205,102
Gross margin		22,667			11,588			584		(7,300	)		27,539
Corporate general & admin		—			—			—		9,993			9,993
Operating income (loss)		22,667			11,588			584		(17,293	)		17,546
Other (expense) income:
Interest expense		—			(15	)		—		(1,802	)		(1,817	)
Other (expense) income, net		(17	)		30			—		617			630
Total other (expense) income		(17	)		15			—		(1,185	)		(1,187	)
Income (loss) from continuing operations before income tax expense	$	22,650		$	11,603		$	584	$	(18,478	)	$	16,359

Segment information for the six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Six Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	339,517		$	148,382		$	17,597	$	—		$	505,496
Operating expenses		262,616			122,446			16,204		12,378			413,644
Gross margin		76,901			25,936			1,393		(12,378	)		91,852
Corporate general & admin		—			—			—		22,246			22,246
Operating income (loss)		76,901			25,936			1,393		(34,624	)		69,606
Other income (expense):
Interest expense		—			(24	)		—		(2,964	)		(2,988	)
Gain on sale of operations, net		547			—			—		—			547
Other (expense) income, net		(202	)		195			1		5,955			5,949
Total other income		345			171			1		2,991			3,508
Income (loss) from continuing operations before income tax expense	$	77,246		$	26,107		$	1,394	$	(31,633	)	$	73,114

	Six Months Ended June 30, 2018
	Financial Services		Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	332,340	$	150,083		$	16,308	$	—		$	498,731
Operating expenses		262,103		122,298			14,842		10,609			409,852
Gross margin		70,237		27,785			1,466		(10,609	)		88,879
Corporate general & admin		—		—			—		20,021			20,021
Operating income (loss)		70,237		27,785			1,466		(30,630	)		68,858
Other income (expense):
Interest expense		—		(89	)		—		(3,508	)		(3,597	)
Gain on sale of operations, net		—		—			—		663			663
Other income (expense), net		248		222			—		(1,069	)		(599	)
Total other income (expense)		248		133			—		(3,914	)		(3,533	)
Income (loss) from continuing operations before income tax expense	$	70,485	$	27,918		$	1,466	$	(34,544	)	$	65,325

Leases

6 Months Ended

Jun. 30, 2019

Leases

NOTE 17. LEASES

We have operating leases primarily for office facilities, automobiles and information technology equipment. Office facilities account for approximately 96% of our total lease liability.

Balance sheet information related to the Company’s operating leases as of June 30, 2019 was as follows (in thousands):

	June 30, 2019
Operating lease ROU assets	$	145,303
Current portion of operating lease liabilities		29,100
Noncurrent portion of operating lease liabilities		136,958
Total operating lease liabilities	$	166,058

		June 30, 2019
Weighted-average remaining lease term		7.0 years
Weighted-average discount rate		4.0%

The components of lease expense and other lease information as of and during the three-month period ended June 30, 2019 are as follows (in thousands):

	June 30, 2019
Operating lease cost	$	9,216
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,199

The components of lease expense and other lease information as of and during the six-month period ended June 30, 2019 are as follows (in thousands):

	June 30, 2019
Operating lease cost	$	18,458
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	18,459

Our leases have remaining lease terms of 1 year to 11 years. These leases generally contain renewal options for periods ranging from two to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and associated potential option payments are excluded from lease payments. Expenses associated with operating leases was $38.0 million, $38.4 million and $37.0 million for the years ended December 31, 2018, 2017 and 2016, respectively.

A number of businesses acquired by us are located in properties owned indirectly by and leased from persons employed by the Company, none of whom are members of our senior management. In the aggregate, for the three and six month periods ending June 30, 2019 and 2018, we made lease payments to those related parties of approximately $0.5 million and $0.8 million, respectively, and $1.2 million and $1.7 million, respectively,

The following table summarizes the maturity of our operating lease liabilities as of June 30, 2019 (in thousands):

	Operating Leases
2019	$	18,002
2020		32,625
2021		28,372
2022		22,535
2023		20,808
Thereafter		71,044
Total undiscounted lease payments		193,386
Less: imputed interest		(27,328	)
Total lease liabilities	$	166,058

The following table summarizes the maturity of our operating lease commitments as of December 31, 2018 (in thousands):

	Operating Leases
2019	$	34,256
2020		30,419
2021		26,172
2022		20,358
2023		18,981
Thereafter		65,854
Total future minimum rental commitments	$	196,040

Subsequent Events

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Note 18. Subsequent Events

Effective July 1, 2019, we acquired substantially all of the assets of Paydayta, Inc. (d.b.a. Paytime) (“Paytime”), an Ohio-based payroll service provider with an annual revenue of approximately $4.0 million. Paytime is included as a component of our Benefit and Insurance Services practice group.

Effective July 1, 2019, we acquired substantially all of the assets of Gavion, LLC (“Gavion”). Gavion is a registered investment advisor based in Memphis, Tennessee. Gavion provides investment consulting services to a diverse base of institutional clients encompassing both traditional and alternative strategies. Gavion manages more than $27.0 billion of client assets and generates an annual revenue of approximately $4.0 million. Gavion is included as a component of our Benefit and Insurance Services practice group.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2019

Unaudited Interim Financial Statements

Description of Business

Selected Terms Used in Notes to the Consolidated Financial Statements

ASA – Administrative Service Agreement.

ASC – Accounting Standards Codification.

ASU – Accounting Standards Update.

CPA firm – Certified Public Accounting firm.

FASB – The Financial Accounting Standards Board.

GAAP – United States Generally Accepted Accounting Principles.

LIBOR – London Interbank Offered Rate.

Legacy ASC Topic 840 – ASC Topic 840, Leases.

New Lease Standard – ASU No. 2016-12, Leases.

ROU – Right-of-Use Asset.

SEC – United States Securities and Exchange Commission.

Tax Act – Tax Cuts and Jobs Act of 2017.

Topic 220 – ASU No. 2018-02, Income Statement – Reporting Comprehensive Income.

Topic 606 – ASU No. 2014-09, Revenue from Contracts with Customers.

Topic 815 – ASU No. 2017-12, Derivatives and Hedging.

Basis of Consolidation

Use of Estimates

Changes in Accounting Policies

Revision of Previously Reported Financial Information

Accounting Changes And Error Corrections [Abstract]

Accounting Standards Adopted in 2019

The following table presents the impact of adopting the New Lease Standard on our consolidated balance sheet.

	Balance at				Balance at
	December 31, 2018		New Lease Standard		January 1, 2019
Operating lease right-of-use asset, net	$	—	$	148,884	$	148,884
Total assets		1,183,031		148,884		1,331,915
Operating lease liability - current		—		28,407		28,407
Total current liabilities		321,314		28,407		349,721
Operating lease liability - non-current		—		120,477		120,477
Total non-current liabilities		268,054		120,477		388,531
Total liabilities and stockholders' equity		1,183,031		148,884		1,331,915

Accounting Standards Issued But Not Yet Adopted

New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Impact of Adopting New Lease Standards on Consolidated Balance Sheet

The following table presents the impact of adopting the New Lease Standard on our consolidated balance sheet.

	Balance at				Balance at
	December 31, 2018		New Lease Standard		January 1, 2019
Operating lease right-of-use asset, net	$	—	$	148,884	$	148,884
Total assets		1,183,031		148,884		1,331,915
Operating lease liability - current		—		28,407		28,407
Total current liabilities		321,314		28,407		349,721
Operating lease liability - non-current		—		120,477		120,477
Total non-current liabilities		268,054		120,477		388,531
Total liabilities and stockholders' equity		1,183,031		148,884		1,331,915

Revenue (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Disaggregation of Revenue by Source

The following table disaggregates our revenue by source (in thousands):

	Three Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	154,373	$	—	$	—	$	154,373
Core Benefits and Insurance Services		—		69,447		—		69,447
Non-core Benefits and Insurance Services		—		2,680		—		2,680
Managed networking, hardware services		—		—		6,522		6,522
National Practices consulting		—		—		2,476		2,476
Total revenue	$	154,373	$	72,127	$	8,998	$	235,498

	Three Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	151,737	$	—	$	—	$	151,737
Core Benefits and Insurance		—		68,978		—		68,978
Non-core Benefits and Insurance		—		3,775		—		3,775
Managed networking, hardware services		—		—		6,121		6,121
National Practices consulting		—		—		2,030		2,030
Total revenue	$	151,737	$	72,753	$	8,151	$	232,641

	Six Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	339,517	$	—	$	—	$	339,517
Core Benefits and Insurance Services		—		142,985		—		142,985
Non-core Benefits and Insurance Services		—		5,397		—		5,397
Managed networking, hardware services		—		—		12,946		12,946
National Practices consulting		—		—		4,651		4,651
Total revenue	$	339,517	$	148,382	$	17,597	$	505,496

	Six Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	332,340	$	—	$	—	$	332,340
Core Benefits and Insurance Services		—		143,100		—		143,100
Non-core Benefits and Insurance Services		—		6,983		—		6,983
Managed networking, hardware services		—		—		12,079		12,079
National Practices consulting		—		—		3,999		3,999
Other		—		—		230		230
Total revenue	$	332,340	$	150,083	$	16,308	$	498,731

Accounts Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Accounts receivable, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Trade accounts receivable	$	200,721		$	159,992
Unbilled revenue, at net realizable value		84,753			60,684
Total accounts receivable		285,474			220,676
Allowance for doubtful accounts		(13,693	)		(13,389	)
Accounts receivable, net	$	271,781		$	207,287

Goodwill and Other Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2019

Components of Goodwill and Other Intangible Assets, Net

The components of goodwill and other intangible assets, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Goodwill	$	566,009		$	564,300
Intangible assets:
Client lists		182,184			181,564
Other intangible assets		9,452			9,447
Total intangible assets		191,636			191,011
Total goodwill and intangibles assets		757,645			755,311
Accumulated amortization:
Client lists		(119,306	)		(112,905	)
Other intangible assets		(5,914	)		(5,397	)
Total accumulated amortization		(125,220	)		(118,302	)
Goodwill and other intangible assets, net	$	632,425		$	637,009

Depreciation and Amortization (Tables)

6 Months Ended

Jun. 30, 2019

Depreciation and Amortization Expense for Property and Equipment and Intangible Assets

Depreciation and amortization expense for property and equipment and intangible assets for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Operating expenses	$	5,282	$	5,825	$	10,906	$	11,507
Corporate general and administrative expenses		35		76		70		169
Total depreciation and amortization expense	$	5,317	$	5,901	$	10,976	$	11,676

Debt and Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Unsecured Credit Facility

Interest rates for the six months ended June 30, 2019 and 2018 were as follows:

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Outstanding Interest Rate Swaps

Summary of Investments

The following table summarizes activities related to these investments for the six months ended June 30, 2019 and the twelve months ended December 31, 2018 (in thousands):

	Six Months Ended			Twelve Months Ended
	June 30, 2019			December 31, 2018
Fair value at beginning of period	$	56,556		$	51,101
Purchases		13,920			18,426
Redemptions		(311	)		(1,793	)
Maturities		(10,245	)		(10,445	)
Decrease in bond premium		(357	)		(377	)
Fair market value adjustment		1,144			(356	)
Fair value at end of period	$	60,707		$	56,556

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	(427	)	Other non-current liability

	December 31, 2018
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	1,096		Other non-current assets

Summary of Effects of Interest Rate Swap

	(Loss) Gain Recognized in AOCL, net of tax					(Loss) Reclassified from AOCL into Expense
	Three Months Ended					Three Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(730	)	$	176	$	(134	)	$	(87	)

	Six Months Ended					Six Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(1,157	)	$	626	$	(273	)	$	(125	)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Assets and (Liabilities) Measured at Fair Value on a Recurring Basis

	Level	June 30, 2019			December 31, 2018
Deferred compensation plan assets	1	$	100,365		$	84,435
Available-for-sale debt securities	1	$	60,707		$	56,556
Deferred compensation plan liabilities	1	$	(100,365	)	$	(84,435	)
Interest rate swaps	2	$	(427	)	$	1,096
Contingent purchase price liabilities	3	$	(28,005	)	$	(39,708	)

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

	2019			2018
Beginning balance – January 1	$	(39,708	)	$	(37,574	)
Additions from business acquisitions		(1,806	)		(12,361	)
Settlement of contingent purchase price liabilities		13,316			6,457
Change in fair value of contingencies		561			(2,562	)
Change in net present value of contingencies		(368	)		(488	)
Ending balance – June 30	$	(28,005	)	$	(46,528	)

Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Other Comprehensive Income and Tax Impact

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Net unrealized gain (loss) on available-for-sale securities, net of income taxes (1)	$	312		$	4		$	822		$	(326	)
Net unrealized (loss) gain on interest rate swaps, net of income taxes (2)		(730	)		176			(1,157	)		626
Foreign currency translation		(4	)		(6	)		(6	)		(12	)
Total other comprehensive income	$	(422	)	$	174		$	(341	)	$	288

(1)

(2)

Employee Share Plans (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Share-Based Compensation Awards

Compensation expense for stock-based awards recognized during the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Stock options	$	479	$	1,030	$	998	$	1,548
Restricted stock awards		1,153		1,383		2,082		2,302
Performance share units		285		—		319		—
Total stock-based compensation expense	$	1,917	$	2,413	$	3,399	$	3,850

Performance Shares [Member]

	Stock Options					Restricted Stock Awards
	Number of Options			Weighted Average Exercise Price Per Share		Number of Shares			Weighted Average Grant-Date Fair Value (1)
Outstanding at beginning of year		3,622		$	11.97		632		$	15.35
Granted		—		$	—		227		$	19.78
Exercised or released		(378	)	$	8.05		(282	)	$	13.76
Expired or canceled		—		$	—		—		$	—
Outstanding at June 30, 2019		3,244		$	12.43		577		$	17.88
Exercisable at June 30, 2019		2,287		$	10.65

(1)

Represents weighted average market value of the shares; awards are granted at no cost to the recipients.

The following table presents our PSU award activity during the six months ended June 30, 2019 (in thousands, except per share data):

	PSUs		Grant-Date Fair Value Per Unit
Outstanding at beginning of year		—	$	—
Granted		173	$	19.82
Vested		—	$	—
Adjustments for performance results		—	$	—
Expired or cancelled		—	$	—
Outstanding at June 30, 2019		173	$	19.82

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Computation of Basic and Diluted Earnings Per Share from Continuing Operations

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator:
Income from continuing operations	$	16,614	$	13,121	$	54,179	$	48,931
Denominator:
Basic
Weighted average common shares outstanding		54,090		54,594		54,188		54,334
Diluted
Stock options (1)		1,188		1,550		1,247		1,500
Restricted stock awards (1)		176		290		225		329
Contingent shares (2)		41		3		41		3
Diluted weighted average common shares outstanding (3)		55,495		56,437		55,701		56,166
Basic earnings per share from continuing operations	$	0.31	$	0.24	$	1.00	$	0.90
Diluted earnings per share from continuing operations	$	0.30	$	0.23	$	0.97	$	0.87

(1)

(2)

(3)

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2019

InR Advisory Services, LLC (“InR”) and Laurus Transaction Advisors, LLC (“Laurus”) [Member]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

	Six Months Ended
	June 30,
	2019			2018
Cash	$	—		$	306
Accounts receivable, net		550			1,920
Other assets		5			12
Identifiable intangible assets		654			3,864
Current liabilities		(288	)		(1,717	)
Total identifiable net assets	$	921		$	4,385
Goodwill		2,165			32,255
Aggregate purchase price	$	3,086		$	36,640

Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Segment Information

Segment information for the three and six months ended June 30, 2019 and 2018 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below.

	Three Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	154,373		$	72,127		$	8,998	$	—		$	235,498
Operating expenses		128,158			61,075			8,204		711			198,148
Gross margin		26,215			11,052			794		(711	)		37,350
Corporate general & admin		—			—			—		10,566			10,566
Operating income (loss)		26,215			11,052			794		(11,277	)		26,784
Other (expense) income:
Interest expense		—			(14	)		—		(1,573	)		(1,587	)
Gain on sale of operations, net		50			—			—		—			50
Other (expense) income, net		(66	)		174			1		(3,420	)		(3,311	)
Total other (expense) income		(16	)		160			1		(4,993	)		(4,848	)
Income (loss) from continuing operations before income tax expense	$	26,199		$	11,212		$	795	$	(16,270	)	$	21,936

	Three Months Ended June 30, 2018
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	151,737		$	72,753		$	8,151	$	—		$	232,641
Operating expenses		129,070			61,165			7,567		7,300			205,102
Gross margin		22,667			11,588			584		(7,300	)		27,539
Corporate general & admin		—			—			—		9,993			9,993
Operating income (loss)		22,667			11,588			584		(17,293	)		17,546
Other (expense) income:
Interest expense		—			(15	)		—		(1,802	)		(1,817	)
Other (expense) income, net		(17	)		30			—		617			630
Total other (expense) income		(17	)		15			—		(1,185	)		(1,187	)
Income (loss) from continuing operations before income tax expense	$	22,650		$	11,603		$	584	$	(18,478	)	$	16,359

Segment information for the six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Six Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	339,517		$	148,382		$	17,597	$	—		$	505,496
Operating expenses		262,616			122,446			16,204		12,378			413,644
Gross margin		76,901			25,936			1,393		(12,378	)		91,852
Corporate general & admin		—			—			—		22,246			22,246
Operating income (loss)		76,901			25,936			1,393		(34,624	)		69,606
Other income (expense):
Interest expense		—			(24	)		—		(2,964	)		(2,988	)
Gain on sale of operations, net		547			—			—		—			547
Other (expense) income, net		(202	)		195			1		5,955			5,949
Total other income		345			171			1		2,991			3,508
Income (loss) from continuing operations before income tax expense	$	77,246		$	26,107		$	1,394	$	(31,633	)	$	73,114

	Six Months Ended June 30, 2018
	Financial Services		Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	332,340	$	150,083		$	16,308	$	—		$	498,731
Operating expenses		262,103		122,298			14,842		10,609			409,852
Gross margin		70,237		27,785			1,466		(10,609	)		88,879
Corporate general & admin		—		—			—		20,021			20,021
Operating income (loss)		70,237		27,785			1,466		(30,630	)		68,858
Other income (expense):
Interest expense		—		(89	)		—		(3,508	)		(3,597	)
Gain on sale of operations, net		—		—			—		663			663
Other income (expense), net		248		222			—		(1,069	)		(599	)
Total other income (expense)		248		133			—		(3,914	)		(3,533	)
Income (loss) from continuing operations before income tax expense	$	70,485	$	27,918		$	1,466	$	(34,544	)	$	65,325

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Balance Sheet Information Related to Operating Leases

Balance sheet information related to the Company’s operating leases as of June 30, 2019 was as follows (in thousands):

	June 30, 2019
Operating lease ROU assets	$	145,303
Current portion of operating lease liabilities		29,100
Noncurrent portion of operating lease liabilities		136,958
Total operating lease liabilities	$	166,058

		June 30, 2019
Weighted-average remaining lease term		7.0 years
Weighted-average discount rate		4.0%

Schedule of Lease Expense and Other Lease Information

The components of lease expense and other lease information as of and during the three-month period ended June 30, 2019 are as follows (in thousands):

	June 30, 2019
Operating lease cost	$	9,216
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,199

The components of lease expense and other lease information as of and during the six-month period ended June 30, 2019 are as follows (in thousands):

	June 30, 2019
Operating lease cost	$	18,458
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	18,459

Schedule of Maturity of Operating Lease Liabilities

The following table summarizes the maturity of our operating lease liabilities as of June 30, 2019 (in thousands):

	Operating Leases
2019	$	18,002
2020		32,625
2021		28,372
2022		22,535
2023		20,808
Thereafter		71,044
Total undiscounted lease payments		193,386
Less: imputed interest		(27,328	)
Total lease liabilities	$	166,058

Schedule of Maturity of Operating Lease Commitments

The following table summarizes the maturity of our operating lease commitments as of December 31, 2018 (in thousands):

	Operating Leases
2019	$	34,256
2020		30,419
2021		26,172
2022		20,358
2023		18,981
Thereafter		65,854
Total future minimum rental commitments	$	196,040

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands		6 Months Ended
	Jan. 02, 2018 USD ($)	Jun. 30, 2019 USD ($) Practice_Groups	Jun. 30, 2018 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of practice groups \| Practice_Groups		3
New accounting pronouncements or adoption of new standard resulted a (decrease) increase in net cash provided by investing activities		$ (10,879)	$ (31,084)
Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
New accounting pronouncements or adoption of new standard resulted a (decrease) increase in net cash provided by investing activities			73,600
New accounting pronouncements or adoption of new standard resulted a (decrease) increase in cash, cash equivalents and restricted cash	$ 148,900		$ 75,300

New Accounting Pronouncements - Summary of Impact of Adopting New Lease Standards on Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use asset, net	$ 145,303
Total assets	1,376,923		$ 1,183,031
Operating lease liability - current	29,100
Total current liabilities	324,736		321,314
Operating lease liability - non-current	136,958
Total non-current liabilities	418,127		268,054
Total liabilities and stockholders' equity	$ 1,376,923		$ 1,183,031
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use asset, net		$ 148,884
Total assets		1,331,915
Operating lease liability - current		28,407
Total current liabilities		349,721
Operating lease liability - non-current		120,477
Total non-current liabilities		388,531
Total liabilities and stockholders' equity		1,331,915
Accounting Standards Update 2016-02 [Member] \| New Lease Standard [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use asset, net		148,884
Total assets		148,884
Operating lease liability - current		28,407
Total current liabilities		28,407
Operating lease liability - non-current		120,477
Total non-current liabilities		120,477
Total liabilities and stockholders' equity		$ 148,884

New Accounting Pronouncements - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease, Percentage of office facilities	96.00%
ASU 2018-02 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Reclassification between AOCI and retained earnings	$ 0.1

Revenue - Summary of Disaggregation of Revenue by Source (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Total revenue	$ 235,498	$ 232,641	$ 505,496	$ 498,731
Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	154,373	151,737	339,517	332,340
Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	72,127	72,753	148,382	150,083
National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	8,998	8,151	17,597	16,308
Accounting, Tax, Advisory and Consulting [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	154,373	151,737	339,517	332,340
Accounting, Tax, Advisory and Consulting [Member] \| Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	154,373	151,737	339,517	332,340
Core Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	69,447	68,978	142,985	143,100
Core Benefits and Insurance Services [Member] \| Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	69,447	68,978	142,985	143,100
Non-core Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,680	3,775	5,397	6,983
Non-core Benefits and Insurance Services [Member] \| Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,680	3,775	5,397	6,983
Managed Networking, Hardware Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	6,522	6,121	12,946	12,079
Managed Networking, Hardware Services [Member] \| National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	6,522	6,121	12,946	12,079
National Practices Consulting [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,476	2,030	4,651	3,999
National Practices Consulting [Member] \| National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 2,476	$ 2,030	$ 4,651	3,999
Other National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue				230
Other National Practices [Member] \| National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue				$ 230

Revenue - Additional Information (Detail)	6 Months Ended
Revenue - Additional Information (Detail)	Jun. 30, 2019
Revenue Recognition And Deferred Revenue [Abstract]
Capitalized contract period	one year or less
Performance obligations period	one year or less

Accounts Receivable, Net - Accounts Receivables Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts Receivable Net Current [Abstract]
Trade accounts receivable	$ 200,721	$ 159,992
Unbilled revenue, at net realizable value	84,753	60,684
Total accounts receivable	285,474	220,676
Allowance for doubtful accounts	(13,693)	(13,389)
Accounts receivable, net	$ 271,781	$ 207,287

Goodwill and Other Intangible Assets, Net - Components of Goodwill and Other Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 566,009	$ 564,300
Intangible assets:
Total intangible assets	191,636	191,011
Total goodwill and intangibles assets	757,645	755,311
Accumulated amortization:
Total accumulated amortization	(125,220)	(118,302)
Goodwill and other intangible assets, net	632,425	637,009
Client Lists [Member]
Intangible assets:
Total intangible assets	182,184	181,564
Accumulated amortization:
Total accumulated amortization	(119,306)	(112,905)
Other Intangible Assets [Member]
Intangible assets:
Total intangible assets	9,452	9,447
Accumulated amortization:
Total accumulated amortization	$ (5,914)	$ (5,397)

Depreciation and Amortization - Depreciation and Amortization Expense for Property and Equipment and Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expense	$ 5,317	$ 5,901	$ 10,976	$ 11,676
Operating Expenses [Member]
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expense	5,282	5,825	10,906	11,507
Corporate General and Administrative Expenses [Member]
Property, Plant and Equipment [Line Items]
Total depreciation and amortization expense	$ 35	$ 76	$ 70	$ 169

Debt and Financing Arrangements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Outstanding balance under applicable credit facility	$ 159,000		$ 159,000		$ 135,500
Interest expense	1,587	$ 1,817	2,988	$ 3,597
Outstanding letters of credit	1,100		$ 1,100		1,100
2018 Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility maturity year			2023
Outstanding balance under applicable credit facility	159,000		$ 159,000		$ 135,500
Interest expense			3,000
Available funds under credit facility	229,200		229,200
Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Revolving loan commitment	400		400
2014 Credit Facility [Member]
Debt Instrument [Line Items]
Interest expense				$ 3,600
Line of Credit [Member]
Debt Instrument [Line Items]
Revolving loan commitment	20,000		$ 20,000
Line of credit facility, termination date			Aug. 16, 2019
Outstanding line of credit	$ 0		$ 0

Debt and Financing Arrangements - Summary of Unsecured Credit Facility (Detail)	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Weighted average rates	3.20%	3.03%
Minimum [Member]
Debt Instrument [Line Items]
Range of effective rates	2.12%	2.37%
Maximum [Member]
Debt Instrument [Line Items]
Range of effective rates	5.50%	5.00%

Commitments and Contingencies (Letters of Credit and Guarantees) - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 1.1	$ 1.1
License bonds outstanding amount	$ 2.5	$ 2.9

Commitments and Contingencies (Legal Proceedings) - Additional Information (Detail) $ in Millions		6 Months Ended
	Sep. 16, 2016 USD ($)	Jun. 30, 2019 USD ($) Plaintiff
Baldino Group [Member]
Commitments And Contingencies [Line Items]
Number of Plaintiffs \| Plaintiff		2
Damages sought amount		$ 16.0
Altoona Regional Health System [Member] \| Minimum [Member]
Commitments And Contingencies [Line Items]
Damages sought amount	$ 142.0

Financial Instruments (Available-for-sale Debt Securities) - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Available-for-sale securities, debt securities, par value	$ 59.0	$ 55.7
Available-for-sale debt securities, maturity start date	2019-08
Available-for-sale debt securities, maturity end date	2024-02

Financial Instruments - Summary of Investments (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Available For Sale Securities [Abstract]
Fair value at beginning of period	$ 56,556	$ 51,101
Purchases	13,920	18,426
Redemptions	(311)	(1,793)
Maturities	(10,245)	(10,445)
Decrease in bond premium	(357)	(377)
Fair market value adjustment	1,144	(356)
Fair value at end of period	$ 60,707	$ 56,556

Financial Instruments - Summary of Outstanding Interest Rate Swaps (Detail) - Interest Rate Swaps [Member] - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Other Non-current Liability [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 70,000,000
Fair Value	$ (427,000)
Other Non-current Assets [Member]
Derivatives, Fair Value [Line Items]
Notional Amount		$ 70,000,000
Fair Value		$ 1,096,000

Financial Instruments (Interest Rate Swaps) - Additional Information (Detail) - Interest Rate Swap [Member]	6 Months Ended
	Jun. 30, 2019 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Interest rate swap, description of interest received	interest that varies with the one-month LIBOR
Derivative, Type of Interest Rate Paid on Swap	fixed
October 2020 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 25,000,000
Interest rate swap, fixed interest rate	1.30%
February 2021 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 10,000,000
Interest rate swap, fixed interest rate	1.12%
May 2022 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 20,000,000
Interest rate swap, fixed interest rate	1.77%
June 2023 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 15,000,000
Interest rate swap, fixed interest rate	2.64%

Financial Instruments - Summary of Effects of Interest Rate Swaps (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivatives, Fair Value [Line Items]
(Loss) Gain Recognized in AOCL, net of tax	$ (730)	$ 176	$ (1,157)	$ 626
Interest Rate Swap [Member] \| Interest Expense [Member]
Derivatives, Fair Value [Line Items]
(Loss) Gain Recognized in AOCL, net of tax	(730)	176	(1,157)	626
(Loss) Reclassified from AOCL into Expense	$ (134)	$ (87)	$ (273)	$ (125)

Fair Value Measurements - Summary of Assets and (Liabilities) Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 60,707	$ 56,556	$ 51,101
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	100,365	84,435
Available-for-sale debt securities	60,707	56,556
Deferred compensation plan liabilities	(100,365)	(84,435)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	(427)	1,096
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent purchase price liabilities	$ (28,005)	$ (39,708)

Fair Value Measurements - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements, Inter-transfers between Levels	$ 0	$ 0

Fair Value Measurements - Change in Level 3 Fair Values of Contingent Purchase Price Liabilities (Detail) - Contingent Purchase Price Liabilities [Member] - Level 3 [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ (39,708)	$ (37,574)
Additions from business acquisitions	(1,806)	(12,361)
Settlement of contingent purchase price liabilities	13,316	6,457
Change in fair value of contingencies	561	(2,562)
Change in net present value of contingencies	(368)	(488)
Ending balance	$ (28,005)	$ (46,528)

Other Comprehensive Income - Summary of Other Comprehensive Income and Tax Impact (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Net unrealized gain (loss) on available-for-sale securities, net of income taxes	$ 312	$ 4	$ 822	$ (326)
Net unrealized (loss) gain on interest rate swaps, net of income taxes	(730)	176	(1,157)	626
Foreign currency translation	(4)	(6)	(6)	(12)
Total other comprehensive income	$ (422)	$ 174	$ (341)	$ 288

Other Comprehensive Income - Summary of Other Comprehensive Income and Tax Impact (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Unrealized gain (loss) on available-for-sale securities, income tax expense (benefit)	$ 116	$ 1	$ 304	$ (121)
Unrealized gain (loss) on interest rate swaps, income tax expense (benefit)	$ (225)	$ 54	$ (358)	$ 193

Other Comprehensive Income - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated other comprehensive loss, net of tax	$ (722)	$ (482)

Employee Share Plans - Additional Information (Detail) - shares shares in Millions		6 Months Ended
	May 09, 2019	Jun. 30, 2019
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, remaining contractual terms		3 years
Performance share units, vesting period		3 years
Achievement of an earnings per share target		70.00%
Achievement of total growth in revenue		30.00%
Percentage of initial grant		200.00%
2019 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum stock based compensation awards granted under the plan	9.6
Stock awards expiry	2029

Employee Share Plans - Schedule of Share-Based Compensation Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Compensation And Retirement Disclosure [Abstract]
Stock options	$ 479	$ 1,030	$ 998	$ 1,548
Restricted stock awards	1,153	1,383	2,082	2,302
Performance share units	285		319
Total stock-based compensation expense	$ 1,917	$ 2,413	$ 3,399	$ 3,850

Employee Share Plans - Stock Award Activity (Detail) - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Options	3,622
Exercised or released, Number of Options	(378)
Outstanding Ending balance, Number of Options	3,244
Exercisable Ending balance, Number of Options	2,287
Outstanding Beginning balance, Weighted Average Exercise Price Per Share	$ 11.97
Exercised or released, Weighted Average Exercise Price Per Share	8.05
Outstanding Ending balance, Weighted Average Exercise Price Per Share	12.43
Exercisable Ending balance, Weighted Average Exercise Price	$ 10.65
Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Shares	632
Granted, Number of Shares	227
Exercised or released, Number of Shares	(282)
Outstanding Ending balance, Number of Shares	577
Outstanding Beginning balance, Weighted Average Grant-Date Fair Value	$ 15.35
Granted, Weighted Average Grant-Date Fair Value	19.78
Exercised or released, Weighted Average Grant Date Fair Value	13.76
Outstanding Ending balance, Weighted Average Grant-Date Fair Value	$ 17.88

Employee Share Plans - Performance Share Units Award Activity (Detail) - Performance Shares [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Number of Shares \| shares	173
Outstanding Ending balance, Number of Shares \| shares	173
Granted, Grant-Date Fair Value Per Unit \| $ / shares	$ 19.82
Outstanding Ending balance, Grant-Date Fair Value Per Unit \| $ / shares	$ 19.82

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Income from continuing operations	$ 16,614	$ 13,121	$ 54,179	$ 48,931
Basic
Weighted average common shares outstanding	54,090	54,594	54,188	54,334
Diluted
Stock options	1,188	1,550	1,247	1,500
Restricted stock awards	176	290	225	329
Contingent shares	41	3	41	3
Diluted weighted average common shares outstanding	55,495	56,437	55,701	56,166
Basic earnings per share from continuing operations	$ 0.31	$ 0.24	$ 1.00	$ 0.90
Diluted earnings per share from continuing operations	$ 0.30	$ 0.23	$ 0.97	$ 0.87

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Parenthetical) (Detail) - shares	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Stock Compensation Plan [Member]
Dilutive Securities Included And Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share based awards excluded from the calculation of diluted earnings per share	500,000		400,000	500,000	700,000
Performance Shares [Member]
Dilutive Securities Included And Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share based awards excluded from the calculation of diluted earnings per share		173,000
Exercised / Vested, Number of Shares	0			0

Acquisitions - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($) Client_List shares	Jun. 30, 2018 USD ($) Business Client_List shares	Dec. 31, 2018 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash		$ 23,400
Contingent consideration		12,400
Contingent consideration, current	$ 18,824	3,400	$ 22,538
Contingent consideration, non-current	9,181	9,000	17,170
Annual revenue		$ 9,100
Number of businesses acquired \| Business		2
Consideration paid in common stock		$ 900
Goodwill	566,009		$ 564,300
Changes in fair value of contingent consideration	(200)	3,100
Consideration paid in cash	$ 11,300	$ 4,100
Number of common stock issued \| shares	98,000	56,000
Wenner Group, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Jan. 01, 2019
Acquired entity, name	Wenner Group, LLC
Consideration paid in cash	$ 1,300
Contingent consideration	1,800
Contingent consideration, current	600
Contingent consideration, non-current	1,200
Annual revenue	2,400
InR Advisory Services, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition		Apr. 01, 2018
Acquired entity, name		InR Advisory Services, LLC
Laurus Transaction Advisors, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition		Feb. 01, 2018
Acquired entity, name		Laurus Transaction Advisors, LLC
InR Advisory Services, LLC (“InR”) and Laurus Transaction Advisors, LLC (“Laurus”) [Member]
Business Acquisition, Contingent Consideration [Line Items]
Goodwill	$ 2,165	$ 32,255
Acquisition of Client Lists [Member]
Business Acquisition, Contingent Consideration [Line Items]
Number of client lists purchased \| Client_List	0	0
Previous Client List Purchases [Member]
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	$ 400	$ 500

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Business Acquisition [Line Items]
Goodwill	$ 566,009	$ 564,300
InR Advisory Services, LLC (“InR”) and Laurus Transaction Advisors, LLC (“Laurus”) [Member]
Business Acquisition [Line Items]
Cash			$ 306
Accounts receivable, net	550		1,920
Other assets	5		12
Identifiable intangible assets	654		3,864
Current liabilities	(288)		(1,717)
Total identifiable net assets	921		4,385
Goodwill	2,165		32,255
Aggregate purchase price	$ 3,086		$ 36,640

Discontinued Operations and Divestitures - Additional Information (Detail) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019 USD ($) Business	Jun. 30, 2018 USD ($) Business	Dec. 31, 2015 Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses sold \| Business	0	0
Financial Services [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses sold \| Business			2
Financial Services Practice Group [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from the sale of its individual wealth management business \| $	$ 0.6
Benefits and Insurance Services Practice Group [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from the sale of its individual wealth management business \| $		$ 0.7

Segment Disclosures - Additional Information (Detail)	6 Months Ended
Segment Disclosures - Additional Information (Detail)	Jun. 30, 2019 Practice_Groups
Segment Reporting [Abstract]
Number of business units of the company	3

Segment Disclosures - Summary of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 235,498	$ 232,641	$ 505,496	$ 498,731
Operating expenses	198,148	205,102	413,644	409,852
Gross margin	37,350	27,539	91,852	88,879
Corporate general & admin	10,566	9,993	22,246	20,021
Operating income	26,784	17,546	69,606	68,858
Other (expense) income:
Interest expense	(1,587)	(1,817)	(2,988)	(3,597)
Gain on sale of operations, net	50		547	663
Other (expense) income, net	(3,311)	630	5,949	(599)
Total other (expense) income, net	(4,848)	(1,187)	3,508	(3,533)
Income from continuing operations before income tax expense	21,936	16,359	73,114	65,325
Financial Services [Member]
Segment Reporting Information [Line Items]
Revenue	154,373	151,737	339,517	332,340
Benefits and Insurance Services [Member]
Segment Reporting Information [Line Items]
Revenue	72,127	72,753	148,382	150,083
National Practices [Member]
Segment Reporting Information [Line Items]
Revenue	8,998	8,151	17,597	16,308
Operating Segments [Member] \| Financial Services [Member]
Segment Reporting Information [Line Items]
Revenue	154,373	151,737	339,517	332,340
Operating expenses	128,158	129,070	262,616	262,103
Gross margin	26,215	22,667	76,901	70,237
Operating income	26,215	22,667	76,901	70,237
Other (expense) income:
Gain on sale of operations, net	50		547
Other (expense) income, net	(66)	(17)	(202)	248
Total other (expense) income, net	(16)	(17)	345	248
Income from continuing operations before income tax expense	26,199	22,650	77,246	70,485
Operating Segments [Member] \| Benefits and Insurance Services [Member]
Segment Reporting Information [Line Items]
Revenue	72,127	72,753	148,382	150,083
Operating expenses	61,075	61,165	122,446	122,298
Gross margin	11,052	11,588	25,936	27,785
Operating income	11,052	11,588	25,936	27,785
Other (expense) income:
Interest expense	(14)	(15)	(24)	(89)
Other (expense) income, net	174	30	195	222
Total other (expense) income, net	160	15	171	133
Income from continuing operations before income tax expense	11,212	11,603	26,107	27,918
Operating Segments [Member] \| National Practices [Member]
Segment Reporting Information [Line Items]
Revenue	8,998	8,151	17,597	16,308
Operating expenses	8,204	7,567	16,204	14,842
Gross margin	794	584	1,393	1,466
Operating income	794	584	1,393	1,466
Other (expense) income:
Other (expense) income, net	1		1
Total other (expense) income, net	1		1
Income from continuing operations before income tax expense	795	584	1,394	1,466
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating expenses	711	7,300	12,378	10,609
Gross margin	(711)	(7,300)	(12,378)	(10,609)
Corporate general & admin	10,566	9,993	22,246	20,021
Operating income	(11,277)	(17,293)	(34,624)	(30,630)
Other (expense) income:
Interest expense	(1,573)	(1,802)	(2,964)	(3,508)
Gain on sale of operations, net				663
Other (expense) income, net	(3,420)	617	5,955	(1,069)
Total other (expense) income, net	(4,993)	(1,185)	2,991	(3,914)
Income from continuing operations before income tax expense	$ (16,270)	$ (18,478)	$ (31,633)	$ (34,544)

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Lessee Lease Description [Line Items]
Operating lease, Percentage of office facilities			96.00%
Operating lease, option to extend			Our leases have remaining lease terms of 1 year to 11 years. These leases generally contain renewal options for periods ranging from two to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and associated potential option payments are excluded from lease payments.
Lessee, Operating Lease, Existence of Option to Extend [true false]			true
Operating lease expense					$ 38.0	$ 38.4	$ 37.0
Operating lease payments to related parties	$ 0.5	$ 1.2	$ 0.8	$ 1.7
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, Remaining lease term			1 year
Operating lease, renewal term	2 years		2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, Remaining lease term			11 years
Operating lease, renewal term	5 years		5 years

Leases - Schedule of Balance Sheet Information Related to Operating Leases (Detail) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 145,303
Current portion of operating lease liabilities	29,100
Noncurrent portion of operating lease liabilities	136,958
Total operating lease liabilities	$ 166,058
Weighted-average remaining lease term	7 years
Weighted-average discount rate	4.00%

Leases - Schedule of Lease Expense and Other Lease Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 9,216	$ 18,458
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$ 9,199	$ 18,459

Leases - Schedule of Maturity of Operating Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
2019	$ 18,002
2020	32,625
2021	28,372
2022	22,535
2023	20,808
Thereafter	71,044
Total undiscounted lease payments	193,386
Less: imputed interest	(27,328)
Total lease liabilities	$ 166,058

Leases - Schedule of Maturity of Operating Lease Commitments (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 34,256
2020	30,419
2021	26,172
2022	20,358
2023	18,981
Thereafter	65,854
Total future minimum rental commitments	$ 196,040

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions		6 Months Ended
	Jul. 01, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Annual revenue		$ 9.1
Paydayta, Inc [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Effective date of acquisition	Jul. 01, 2019
Acquired entity, name	Paydayta, Inc.
Annual revenue	$ 4.0
Gavion, LLC [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Effective date of acquisition	Jul. 01, 2019
Acquired entity, name	Gavion, LLC
Annual revenue	$ 4.0
Client assets	$ 27,000.0

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 31, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	CBZ
Entity Registrant Name	CBIZ, Inc.
Entity Central Index Key	0000944148
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, $0.01 Par Value
Security Exchange Name	NYSE
Entity File Number	1-32961
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2769024
Entity Address, Address Line One	6050 Oak Tree Boulevard
Entity Address, Address Line Two	South
Entity Address, Address Line Three	Suite 500
Entity Address, City or Town	Cleveland
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44131
City Area Code	216
Local Phone Number	447-9000
Document Transition Report	false
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		54,783,725

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 2,628	$ 640
Restricted cash	30,126	27,481
Accounts receivable, net	271,781	207,287
Other current assets	26,060	26,841
Current assets before funds held for clients	330,595	262,249
Funds held for clients	127,420	161,289
Total current assets	458,015	423,538
Non-current assets:
Property and equipment, net	36,848	34,205
Goodwill and other intangible assets, net	632,425	637,009
Assets of deferred compensation plan	100,365	84,435
Operating lease right-of-use asset, net	145,303
Other non-current assets	3,967	3,844
Total non-current assets	918,908	759,493
Total assets	1,376,923	1,183,031
Current liabilities:
Accounts payable	87,668	58,630
Income taxes payable	7,307	464
Accrued personnel costs	42,251	63,953
Contingent purchase price liability	18,824	22,538
Operating lease liability	29,100
Other current liabilities	12,460	13,656
Current liabilities before client fund obligations	197,610	159,241
Client fund obligations	127,126	162,073
Total current liabilities	324,736	321,314
Non-current liabilities:
Bank debt	159,000	135,500
Debt issuance costs	(1,346)	(1,526)
Total long-term debt	157,654	133,974
Income taxes payable	3,603	3,402
Deferred income taxes, net	8,504	6,764
Deferred compensation plan obligations	100,365	84,435
Contingent purchase price liability	9,181	17,170
Operating lease liability	136,958
Other non-current liabilities	1,862	22,309
Total non-current liabilities	418,127	268,054
Total liabilities	742,863	589,368
STOCKHOLDERS' EQUITY
Common stock	1,321	1,314
Additional paid in capital	700,800	692,398
Retained earnings	462,923	408,963
Treasury stock	(530,262)	(508,530)
Accumulated other comprehensive income (loss)	(722)	(482)
Total stockholders’ equity	634,060	593,663
Total liabilities and stockholders’ equity	$ 1,376,923	$ 1,183,031

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Revenue	$ 235,498	$ 232,641	$ 505,496	$ 498,731
Operating expenses	198,148	205,102	413,644	409,852
Gross margin	37,350	27,539	91,852	88,879
Corporate general and administrative expenses	10,566	9,993	22,246	20,021
Operating income	26,784	17,546	69,606	68,858
Other (expense) income:
Interest expense	(1,587)	(1,817)	(2,988)	(3,597)
Gain on sale of operations, net	50		547	663
Other (expense) income, net	(3,311)	630	5,949	(599)
Total other (expense) income, net	(4,848)	(1,187)	3,508	(3,533)
Income from continuing operations before income tax expense	21,936	16,359	73,114	65,325
Income tax expense	5,322	3,238	18,935	16,394
Income from continuing operations	16,614	13,121	54,179	48,931
(Loss) gain from discontinued operations, net of tax	(22)	(15)	(118)	26
Net income	$ 16,592	$ 13,106	$ 54,061	$ 48,957
Basic:
Continuing operations	$ 0.31	$ 0.24	$ 1.00	$ 0.90
Net income	0.31	0.24	1.00	0.90
Diluted:
Continuing operations	0.30	0.23	0.97	0.87
Net income	$ 0.30	$ 0.23	$ 0.97	$ 0.87
Basic weighted average shares outstanding	54,090	54,594	54,188	54,334
Diluted weighted average shares outstanding	55,495	56,437	55,701	56,166
Comprehensive income:
Net income	$ 16,592	$ 13,106	$ 54,061	$ 48,957
Other comprehensive income, net of tax	(422)	174	(341)	288
Comprehensive income	$ 16,170	$ 13,280	$ 53,720	$ 49,245

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Gain [Member]
Balance, Amount at Dec. 31, 2017	$ 530,879	$ 1,301	$ (491,046)	$ 675,504	$ 345,302	$ (182)
Balance, Shares at Dec. 31, 2017		130,075	75,484
Cumulative-effect of accounting changes adjustment	1,622				1,622
Net income	48,957				48,957
Other comprehensive income	288					288
Share repurchases	(4,409)		$ (4,409)
Share repurchases, Shares			219
Restricted stock		$ 4		(4)
Restricted stock, Shares		272
Stock options exercised	4,425	$ 5		4,420
Stock options exercised, Shares		616
Share-based compensation	3,850			3,850
Business acquisitions	3,214	$ 1		3,213
Business acquisitions, Shares		169
Balance, Amount at Jun. 30, 2018	588,826	$ 1,311	$ (495,455)	686,983	395,881	106
Balance, Shares at Jun. 30, 2018		131,132	75,703
Balance, Amount at Mar. 31, 2018	571,616	$ 1,305	$ (491,604)	679,208	382,775	(68)
Balance, Shares at Mar. 31, 2018		130,470	75,515
Net income	13,106				13,106
Other comprehensive income	174					174
Share repurchases	(3,851)		$ (3,851)
Share repurchases, Shares			188
Restricted stock		$ 4		(4)
Restricted stock, Shares		216
Stock options exercised	2,154	$ 1		2,153
Stock options exercised, Shares		277
Share-based compensation	2,413			2,413
Business acquisitions	3,214	$ 1		3,213
Business acquisitions, Shares		169
Balance, Amount at Jun. 30, 2018	588,826	$ 1,311	$ (495,455)	686,983	395,881	106
Balance, Shares at Jun. 30, 2018		131,132	75,703
Balance, Amount at Dec. 31, 2018	593,663	$ 1,314	$ (508,530)	692,398	408,963	(482)
Balance, Shares at Dec. 31, 2018		131,404	76,332
Cumulative-effect of accounting changes adjustment					(101)	101
Net income	54,061				54,061
Other comprehensive income	(341)					(341)
Share repurchases	(21,732)		$ (21,732)
Share repurchases, Shares			1,096
Restricted stock		$ 2		(2)
Restricted stock, Shares		228
Stock options exercised	$ 3,043	$ 4		3,039
Stock options exercised, Shares	378	378
Share-based compensation	$ 3,399			3,399
Business acquisitions	1,967	$ 1		1,966
Business acquisitions, Shares		98
Balance, Amount at Jun. 30, 2019	634,060	$ 1,321	$ (530,262)	700,800	462,923	(722)
Balance, Shares at Jun. 30, 2019		132,108	77,428
Balance, Amount at Mar. 31, 2019	623,487	$ 1,318	$ (520,088)	696,226	446,331	(300)
Balance, Shares at Mar. 31, 2019		131,813	76,912
Net income	16,592				16,592
Other comprehensive income	(422)					(422)
Share repurchases	(10,174)		$ (10,174)
Share repurchases, Shares			516
Restricted stock		$ 1		(1)
Restricted stock, Shares		55
Stock options exercised	1,643	$ 2		1,641
Stock options exercised, Shares		189
Share-based compensation	1,917			1,917
Business acquisitions	1,017			1,017
Business acquisitions, Shares		51
Balance, Amount at Jun. 30, 2019	$ 634,060	$ 1,321	$ (530,262)	$ 700,800	$ 462,923	$ (722)
Balance, Shares at Jun. 30, 2019		132,108	77,428

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 54,061	$ 48,957
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	10,976	11,676
Bad debt expense, net of recoveries	1,506	3,172
Adjustment to contingent earnout liability	(193)	3,050
Stock-based compensation expense	3,399	3,850
Other	72	(2,840)
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	(65,684)	(44,774)
Other assets	362	(4,955)
Accounts payable	28,987	18,796
Income taxes payable	8,518	10,245
Accrued personnel costs	(21,703)	(3,302)
Other liabilities	(602)	(2,617)
Operating cash flows provided by continuing operations	19,699	41,258
Operating cash flows used in discontinued operations	(119)	(152)
Net cash provided by operating activities	19,580	41,106
Cash flows from investing activities:
Business acquisitions and purchases of client lists, net of cash acquired	(1,293)	(23,740)
Purchases of client fund investments	(13,920)	(10,345)
Proceeds from the sales and maturities of client fund investments	10,556	7,273
Increase in funds held for clients	369	873
Additions to property and equipment, net	(6,916)	(5,493)
Other	325	348
Net cash used in investing activities	(10,879)	(31,084)
Cash flows from financing activities:
Proceeds from bank debt	265,796	439,000
Payment of bank debt	(242,296)	(437,300)
Payment for acquisition of treasury stock	(21,732)	(4,409)
Decrease in client funds obligations	(34,947)	(71,293)
Proceeds from exercise of stock options	3,043	4,425
Payment of contingent consideration for acquisitions	(11,718)	(4,632)
Other, net	(222)	(1,321)
Net cash used in financing activities	(42,076)	(75,530)
Net decrease in cash, cash equivalents and restricted cash	(33,375)	(65,508)
Cash, cash equivalents and restricted cash at beginning of year	130,554	182,262
Cash, cash equivalents and restricted cash at end of period	97,179	116,754
Reconciliation of cash, cash equivalents and restricted cash to theConsolidated Balance Sheets:
Cash and cash equivalents	2,628	1,921
Restricted cash	30,126	39,535
Cash equivalents included in funds held for clients	64,425	75,298
Cash, cash equivalents and restricted cash at end of period	$ 97,179	$ 116,754

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Summary of Significant Accounting Policies

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Selected Terms Used in Notes to the Consolidated Financial Statements

ASA – Administrative Service Agreement.

ASC – Accounting Standards Codification.

ASU – Accounting Standards Update.

CPA firm – Certified Public Accounting firm.

FASB – The Financial Accounting Standards Board.

GAAP – United States Generally Accepted Accounting Principles.

LIBOR – London Interbank Offered Rate.

Legacy ASC Topic 840 – ASC Topic 840, Leases.

New Lease Standard – ASU No. 2016-12, Leases.

ROU – Right-of-Use Asset.

SEC – United States Securities and Exchange Commission.

Tax Act – Tax Cuts and Jobs Act of 2017.

Topic 220 – ASU No. 2018-02, Income Statement – Reporting Comprehensive Income.

Topic 606 – ASU No. 2014-09, Revenue from Contracts with Customers.

Topic 815 – ASU No. 2017-12, Derivatives and Hedging.

New Accounting Pronouncements

6 Months Ended

Jun. 30, 2019

Accounting Changes And Error Corrections [Abstract]

NOTE 2. New Accounting Pronouncements

Accounting Standards Adopted in 2019

The following table presents the impact of adopting the New Lease Standard on our consolidated balance sheet.

	Balance at				Balance at
	December 31, 2018		New Lease Standard		January 1, 2019
Operating lease right-of-use asset, net	$	—	$	148,884	$	148,884
Total assets		1,183,031		148,884		1,331,915
Operating lease liability - current		—		28,407		28,407
Total current liabilities		321,314		28,407		349,721
Operating lease liability - non-current		—		120,477		120,477
Total non-current liabilities		268,054		120,477		388,531
Total liabilities and stockholders' equity		1,183,031		148,884		1,331,915

Accounting Standards Issued But Not Yet Adopted

Revenue

6 Months Ended

Jun. 30, 2019

Revenue

Note 3. Revenue

The following table disaggregates our revenue by source (in thousands):

	Three Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	154,373	$	—	$	—	$	154,373
Core Benefits and Insurance Services		—		69,447		—		69,447
Non-core Benefits and Insurance Services		—		2,680		—		2,680
Managed networking, hardware services		—		—		6,522		6,522
National Practices consulting		—		—		2,476		2,476
Total revenue	$	154,373	$	72,127	$	8,998	$	235,498

	Three Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	151,737	$	—	$	—	$	151,737
Core Benefits and Insurance		—		68,978		—		68,978
Non-core Benefits and Insurance		—		3,775		—		3,775
Managed networking, hardware services		—		—		6,121		6,121
National Practices consulting		—		—		2,030		2,030
Total revenue	$	151,737	$	72,753	$	8,151	$	232,641

	Six Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	339,517	$	—	$	—	$	339,517
Core Benefits and Insurance Services		—		142,985		—		142,985
Non-core Benefits and Insurance Services		—		5,397		—		5,397
Managed networking, hardware services		—		—		12,946		12,946
National Practices consulting		—		—		4,651		4,651
Total revenue	$	339,517	$	148,382	$	17,597	$	505,496

	Six Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	332,340	$	—	$	—	$	332,340
Core Benefits and Insurance Services		—		143,100		—		143,100
Non-core Benefits and Insurance Services		—		6,983		—		6,983
Managed networking, hardware services		—		—		12,079		12,079
National Practices consulting		—		—		3,999		3,999
Other		—		—		230		230
Total revenue	$	332,340	$	150,083	$	16,308	$	498,731

Financial Services

Benefits and Insurance Services

Revenue related to group health benefits consulting consists of (i) commissions, (ii) fee income which can be fixed or variable based on a price per participant and (iii) contingent revenue.

•

Revenue related to property and casualty consists of (i) commissions and (ii) contingent revenue.

•

Revenue related to retirement plan services consist of (i) advisory, (ii) third party administration, and (iii) actuarial services.

•

Non-core Benefits and Insurance Services consist of transactional businesses that tend to fluctuate. These include life insurance, wholesale agency benefits and talent and compensation services.

National Practices

Transaction Price Allocated to Future Obligations

Accounts Receivable, Net

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Note 4. Accounts Receivable, Net

Accounts receivable, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Trade accounts receivable	$	200,721		$	159,992
Unbilled revenue, at net realizable value		84,753			60,684
Total accounts receivable		285,474			220,676
Allowance for doubtful accounts		(13,693	)		(13,389	)
Accounts receivable, net	$	271,781		$	207,287

Goodwill and Other Intangible Assets, Net

6 Months Ended

Jun. 30, 2019

Goodwill and Other Intangible Assets, Net

Note 5. Goodwill and Other Intangible Assets, Net

The components of goodwill and other intangible assets, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Goodwill	$	566,009		$	564,300
Intangible assets:
Client lists		182,184			181,564
Other intangible assets		9,452			9,447
Total intangible assets		191,636			191,011
Total goodwill and intangibles assets		757,645			755,311
Accumulated amortization:
Client lists		(119,306	)		(112,905	)
Other intangible assets		(5,914	)		(5,397	)
Total accumulated amortization		(125,220	)		(118,302	)
Goodwill and other intangible assets, net	$	632,425		$	637,009

Depreciation and Amortization

6 Months Ended

Jun. 30, 2019

Depreciation and Amortization

Note 6. Depreciation and Amortization

Depreciation and amortization expense for property and equipment and intangible assets for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Operating expenses	$	5,282	$	5,825	$	10,906	$	11,507
Corporate general and administrative expenses		35		76		70		169
Total depreciation and amortization expense	$	5,317	$	5,901	$	10,976	$	11,676

Debt and Financing Arrangements

6 Months Ended

Jun. 30, 2019

Debt and Financing Arrangements

Note 7. Debt and Financing Arrangements

Interest rates for the six months ended June 30, 2019 and 2018 were as follows:

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8. Commitments and Contingencies

Letters of Credit and Guarantees

Legal Proceedings

In addition to those items disclosed above, we are, from time to time, subject to claims and suits arising in the ordinary course of business.

Financial Instruments

6 Months Ended

Jun. 30, 2019

Financial Instruments

Note 9. Financial Instruments

Available-for-sale Debt Securities

	Six Months Ended			Twelve Months Ended
	June 30, 2019			December 31, 2018
Fair value at beginning of period	$	56,556		$	51,101
Purchases		13,920			18,426
Redemptions		(311	)		(1,793	)
Maturities		(10,245	)		(10,445	)
Decrease in bond premium		(357	)		(377	)
Fair market value adjustment		1,144			(356	)
Fair value at end of period	$	60,707		$	56,556

Interest Rate Swaps

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	(427	)	Other non-current liability

	December 31, 2018
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	1,096		Other non-current assets

	(Loss) Gain Recognized in AOCL, net of tax					(Loss) Reclassified from AOCL into Expense
	Three Months Ended					Three Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(730	)	$	176	$	(134	)	$	(87	)

	Six Months Ended					Six Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(1,157	)	$	626	$	(273	)	$	(125	)

Fair Value Measurements

6 Months Ended

Jun. 30, 2019

Fair Value Measurements

Note 10. Fair Value Measurements

	Level	June 30, 2019			December 31, 2018
Deferred compensation plan assets	1	$	100,365		$	84,435
Available-for-sale debt securities	1	$	60,707		$	56,556
Deferred compensation plan liabilities	1	$	(100,365	)	$	(84,435	)
Interest rate swaps	2	$	(427	)	$	1,096
Contingent purchase price liabilities	3	$	(28,005	)	$	(39,708	)

	2019			2018
Beginning balance – January 1	$	(39,708	)	$	(37,574	)
Additions from business acquisitions		(1,806	)		(12,361	)
Settlement of contingent purchase price liabilities		13,316			6,457
Change in fair value of contingencies		561			(2,562	)
Change in net present value of contingencies		(368	)		(488	)
Ending balance – June 30	$	(28,005	)	$	(46,528	)

Contingent Purchase Price Liabilities

- Definition

+ References + Details

Other Comprehensive Income

6 Months Ended

Jun. 30, 2019

Other Comprehensive Income

Note 11. Other Comprehensive Income

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Net unrealized gain (loss) on available-for-sale securities, net of income taxes (1)	$	312		$	4		$	822		$	(326	)
Net unrealized (loss) gain on interest rate swaps, net of income taxes (2)		(730	)		176			(1,157	)		626
Foreign currency translation		(4	)		(6	)		(6	)		(12	)
Total other comprehensive income	$	(422	)	$	174		$	(341	)	$	288

(1)

(2)

Employee Share Plans

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Employee Share Plans

Note 12. Employee Share Plans

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Stock options	$	479	$	1,030	$	998	$	1,548
Restricted stock awards		1,153		1,383		2,082		2,302
Performance share units		285		—		319		—
Total stock-based compensation expense	$	1,917	$	2,413	$	3,399	$	3,850

	Stock Options					Restricted Stock Awards
	Number of Options			Weighted Average Exercise Price Per Share		Number of Shares			Weighted Average Grant-Date Fair Value (1)
Outstanding at beginning of year		3,622		$	11.97		632		$	15.35
Granted		—		$	—		227		$	19.78
Exercised or released		(378	)	$	8.05		(282	)	$	13.76
Expired or canceled		—		$	—		—		$	—
Outstanding at June 30, 2019		3,244		$	12.43		577		$	17.88
Exercisable at June 30, 2019		2,287		$	10.65

(1)

Represents weighted average market value of the shares; awards are granted at no cost to the recipients.

The following table presents our PSU award activity during the six months ended June 30, 2019 (in thousands, except per share data):

	PSUs		Grant-Date Fair Value Per Unit
Outstanding at beginning of year		—	$	—
Granted		173	$	19.82
Vested		—	$	—
Adjustments for performance results		—	$	—
Expired or cancelled		—	$	—
Outstanding at June 30, 2019		173	$	19.82

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Discontinued Operations And Disposal Groups [Abstract]

Earnings Per Share

Note 13. Earnings Per Share

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator:
Income from continuing operations	$	16,614	$	13,121	$	54,179	$	48,931
Denominator:
Basic
Weighted average common shares outstanding		54,090		54,594		54,188		54,334
Diluted
Stock options (1)		1,188		1,550		1,247		1,500
Restricted stock awards (1)		176		290		225		329
Contingent shares (2)		41		3		41		3
Diluted weighted average common shares outstanding (3)		55,495		56,437		55,701		56,166
Basic earnings per share from continuing operations	$	0.31	$	0.24	$	1.00	$	0.90
Diluted earnings per share from continuing operations	$	0.30	$	0.23	$	0.97	$	0.87

(1)

(2)

(3)

Acquisitions

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Acquisitions

Note 14. Acquisitions

Business Acquisitions in 2019

Business Acquisitions in 2018

	Six Months Ended
	June 30,
	2019			2018
Cash	$	—		$	306
Accounts receivable, net		550			1,920
Other assets		5			12
Identifiable intangible assets		654			3,864
Current liabilities		(288	)		(1,717	)
Total identifiable net assets	$	921		$	4,385
Goodwill		2,165			32,255
Aggregate purchase price	$	3,086		$	36,640

Acquisitions of Client Lists

Except for client lists acquired through business acquisitions, we did not purchase any client lists during the six months ended June 30, 2019 and 2018, respectively.

Change in Contingent Purchase Price Liability for Previous Acquisitions

Contingent Payments for Previous Business Acquisitions and Client Lists

Discontinued Operations and Divestitures

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Divestitures

Note 15. Discontinued Operations and Divestitures

We will divest (through sale or closure) business operations that do not contribute to our long-term objectives for growth, or that are not complementary to our target service offerings and markets.

Discontinued Operations

Divestitures

Segment Disclosures

6 Months Ended

Jun. 30, 2019

Segment Disclosures

Note 16. Segment Disclosures

Financial Services

Benefits and Insurance Services

National Practices

• Accounting and Tax

• Government Healthcare Consulting

• Financial Advisory

• Valuation

• Risk & Advisory Services

• Group Health Benefits Consulting

• Payroll

• Property & Casualty

• Retirement Plan Services

• Managed Networking and Hardware Services

• Healthcare Consulting

Segment information for the three and six months ended June 30, 2019 and 2018 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below.

	Three Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	154,373		$	72,127		$	8,998	$	—		$	235,498
Operating expenses		128,158			61,075			8,204		711			198,148
Gross margin		26,215			11,052			794		(711	)		37,350
Corporate general & admin		—			—			—		10,566			10,566
Operating income (loss)		26,215			11,052			794		(11,277	)		26,784
Other (expense) income:
Interest expense		—			(14	)		—		(1,573	)		(1,587	)
Gain on sale of operations, net		50			—			—		—			50
Other (expense) income, net		(66	)		174			1		(3,420	)		(3,311	)
Total other (expense) income		(16	)		160			1		(4,993	)		(4,848	)
Income (loss) from continuing operations before income tax expense	$	26,199		$	11,212		$	795	$	(16,270	)	$	21,936

	Three Months Ended June 30, 2018
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	151,737		$	72,753		$	8,151	$	—		$	232,641
Operating expenses		129,070			61,165			7,567		7,300			205,102
Gross margin		22,667			11,588			584		(7,300	)		27,539
Corporate general & admin		—			—			—		9,993			9,993
Operating income (loss)		22,667			11,588			584		(17,293	)		17,546
Other (expense) income:
Interest expense		—			(15	)		—		(1,802	)		(1,817	)
Other (expense) income, net		(17	)		30			—		617			630
Total other (expense) income		(17	)		15			—		(1,185	)		(1,187	)
Income (loss) from continuing operations before income tax expense	$	22,650		$	11,603		$	584	$	(18,478	)	$	16,359

Segment information for the six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Six Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	339,517		$	148,382		$	17,597	$	—		$	505,496
Operating expenses		262,616			122,446			16,204		12,378			413,644
Gross margin		76,901			25,936			1,393		(12,378	)		91,852
Corporate general & admin		—			—			—		22,246			22,246
Operating income (loss)		76,901			25,936			1,393		(34,624	)		69,606
Other income (expense):
Interest expense		—			(24	)		—		(2,964	)		(2,988	)
Gain on sale of operations, net		547			—			—		—			547
Other (expense) income, net		(202	)		195			1		5,955			5,949
Total other income		345			171			1		2,991			3,508
Income (loss) from continuing operations before income tax expense	$	77,246		$	26,107		$	1,394	$	(31,633	)	$	73,114

	Six Months Ended June 30, 2018
	Financial Services		Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	332,340	$	150,083		$	16,308	$	—		$	498,731
Operating expenses		262,103		122,298			14,842		10,609			409,852
Gross margin		70,237		27,785			1,466		(10,609	)		88,879
Corporate general & admin		—		—			—		20,021			20,021
Operating income (loss)		70,237		27,785			1,466		(30,630	)		68,858
Other income (expense):
Interest expense		—		(89	)		—		(3,508	)		(3,597	)
Gain on sale of operations, net		—		—			—		663			663
Other income (expense), net		248		222			—		(1,069	)		(599	)
Total other income (expense)		248		133			—		(3,914	)		(3,533	)
Income (loss) from continuing operations before income tax expense	$	70,485	$	27,918		$	1,466	$	(34,544	)	$	65,325

Leases

6 Months Ended

Jun. 30, 2019

Leases

NOTE 17. LEASES

We have operating leases primarily for office facilities, automobiles and information technology equipment. Office facilities account for approximately 96% of our total lease liability.

Balance sheet information related to the Company’s operating leases as of June 30, 2019 was as follows (in thousands):

	June 30, 2019
Operating lease ROU assets	$	145,303
Current portion of operating lease liabilities		29,100
Noncurrent portion of operating lease liabilities		136,958
Total operating lease liabilities	$	166,058

		June 30, 2019
Weighted-average remaining lease term		7.0 years
Weighted-average discount rate		4.0%

The components of lease expense and other lease information as of and during the three-month period ended June 30, 2019 are as follows (in thousands):

	June 30, 2019
Operating lease cost	$	9,216
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,199

The components of lease expense and other lease information as of and during the six-month period ended June 30, 2019 are as follows (in thousands):

	June 30, 2019
Operating lease cost	$	18,458
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	18,459

The following table summarizes the maturity of our operating lease liabilities as of June 30, 2019 (in thousands):

	Operating Leases
2019	$	18,002
2020		32,625
2021		28,372
2022		22,535
2023		20,808
Thereafter		71,044
Total undiscounted lease payments		193,386
Less: imputed interest		(27,328	)
Total lease liabilities	$	166,058

The following table summarizes the maturity of our operating lease commitments as of December 31, 2018 (in thousands):

	Operating Leases
2019	$	34,256
2020		30,419
2021		26,172
2022		20,358
2023		18,981
Thereafter		65,854
Total future minimum rental commitments	$	196,040

Subsequent Events

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Note 18. Subsequent Events

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2019

Unaudited Interim Financial Statements

Description of Business

Selected Terms Used in Notes to the Consolidated Financial Statements

ASA – Administrative Service Agreement.

ASC – Accounting Standards Codification.

ASU – Accounting Standards Update.

CPA firm – Certified Public Accounting firm.

FASB – The Financial Accounting Standards Board.

GAAP – United States Generally Accepted Accounting Principles.

LIBOR – London Interbank Offered Rate.

Legacy ASC Topic 840 – ASC Topic 840, Leases.

New Lease Standard – ASU No. 2016-12, Leases.

ROU – Right-of-Use Asset.

SEC – United States Securities and Exchange Commission.

Tax Act – Tax Cuts and Jobs Act of 2017.

Topic 220 – ASU No. 2018-02, Income Statement – Reporting Comprehensive Income.

Topic 606 – ASU No. 2014-09, Revenue from Contracts with Customers.

Topic 815 – ASU No. 2017-12, Derivatives and Hedging.

Basis of Consolidation

Use of Estimates

Changes in Accounting Policies

Revision of Previously Reported Financial Information

Accounting Changes And Error Corrections [Abstract]

Accounting Standards Adopted in 2019

The following table presents the impact of adopting the New Lease Standard on our consolidated balance sheet.

	Balance at				Balance at
	December 31, 2018		New Lease Standard		January 1, 2019
Operating lease right-of-use asset, net	$	—	$	148,884	$	148,884
Total assets		1,183,031		148,884		1,331,915
Operating lease liability - current		—		28,407		28,407
Total current liabilities		321,314		28,407		349,721
Operating lease liability - non-current		—		120,477		120,477
Total non-current liabilities		268,054		120,477		388,531
Total liabilities and stockholders' equity		1,183,031		148,884		1,331,915

Accounting Standards Issued But Not Yet Adopted

New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Impact of Adopting New Lease Standards on Consolidated Balance Sheet

The following table presents the impact of adopting the New Lease Standard on our consolidated balance sheet.

	Balance at				Balance at
	December 31, 2018		New Lease Standard		January 1, 2019
Operating lease right-of-use asset, net	$	—	$	148,884	$	148,884
Total assets		1,183,031		148,884		1,331,915
Operating lease liability - current		—		28,407		28,407
Total current liabilities		321,314		28,407		349,721
Operating lease liability - non-current		—		120,477		120,477
Total non-current liabilities		268,054		120,477		388,531
Total liabilities and stockholders' equity		1,183,031		148,884		1,331,915

Revenue (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Disaggregation of Revenue by Source

The following table disaggregates our revenue by source (in thousands):

	Three Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	154,373	$	—	$	—	$	154,373
Core Benefits and Insurance Services		—		69,447		—		69,447
Non-core Benefits and Insurance Services		—		2,680		—		2,680
Managed networking, hardware services		—		—		6,522		6,522
National Practices consulting		—		—		2,476		2,476
Total revenue	$	154,373	$	72,127	$	8,998	$	235,498

	Three Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	151,737	$	—	$	—	$	151,737
Core Benefits and Insurance		—		68,978		—		68,978
Non-core Benefits and Insurance		—		3,775		—		3,775
Managed networking, hardware services		—		—		6,121		6,121
National Practices consulting		—		—		2,030		2,030
Total revenue	$	151,737	$	72,753	$	8,151	$	232,641

	Six Months Ended June 30, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	339,517	$	—	$	—	$	339,517
Core Benefits and Insurance Services		—		142,985		—		142,985
Non-core Benefits and Insurance Services		—		5,397		—		5,397
Managed networking, hardware services		—		—		12,946		12,946
National Practices consulting		—		—		4,651		4,651
Total revenue	$	339,517	$	148,382	$	17,597	$	505,496

	Six Months Ended June 30, 2018
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	332,340	$	—	$	—	$	332,340
Core Benefits and Insurance Services		—		143,100		—		143,100
Non-core Benefits and Insurance Services		—		6,983		—		6,983
Managed networking, hardware services		—		—		12,079		12,079
National Practices consulting		—		—		3,999		3,999
Other		—		—		230		230
Total revenue	$	332,340	$	150,083	$	16,308	$	498,731

Accounts Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Accounts receivable, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Trade accounts receivable	$	200,721		$	159,992
Unbilled revenue, at net realizable value		84,753			60,684
Total accounts receivable		285,474			220,676
Allowance for doubtful accounts		(13,693	)		(13,389	)
Accounts receivable, net	$	271,781		$	207,287

Goodwill and Other Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2019

Components of Goodwill and Other Intangible Assets, Net

The components of goodwill and other intangible assets, net, at June 30, 2019 and December 31, 2018 were as follows (in thousands):

	June 30,			December 31,
	2019			2018
Goodwill	$	566,009		$	564,300
Intangible assets:
Client lists		182,184			181,564
Other intangible assets		9,452			9,447
Total intangible assets		191,636			191,011
Total goodwill and intangibles assets		757,645			755,311
Accumulated amortization:
Client lists		(119,306	)		(112,905	)
Other intangible assets		(5,914	)		(5,397	)
Total accumulated amortization		(125,220	)		(118,302	)
Goodwill and other intangible assets, net	$	632,425		$	637,009

Depreciation and Amortization (Tables)

6 Months Ended

Jun. 30, 2019

Depreciation and Amortization Expense for Property and Equipment and Intangible Assets

Depreciation and amortization expense for property and equipment and intangible assets for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Operating expenses	$	5,282	$	5,825	$	10,906	$	11,507
Corporate general and administrative expenses		35		76		70		169
Total depreciation and amortization expense	$	5,317	$	5,901	$	10,976	$	11,676

Debt and Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Unsecured Credit Facility

Interest rates for the six months ended June 30, 2019 and 2018 were as follows:

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Outstanding Interest Rate Swaps

Summary of Investments

The following table summarizes activities related to these investments for the six months ended June 30, 2019 and the twelve months ended December 31, 2018 (in thousands):

	Six Months Ended			Twelve Months Ended
	June 30, 2019			December 31, 2018
Fair value at beginning of period	$	56,556		$	51,101
Purchases		13,920			18,426
Redemptions		(311	)		(1,793	)
Maturities		(10,245	)		(10,445	)
Decrease in bond premium		(357	)		(377	)
Fair market value adjustment		1,144			(356	)
Fair value at end of period	$	60,707		$	56,556

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	(427	)	Other non-current liability

	December 31, 2018
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	70,000	$	1,096		Other non-current assets

Summary of Effects of Interest Rate Swap

	(Loss) Gain Recognized in AOCL, net of tax					(Loss) Reclassified from AOCL into Expense
	Three Months Ended					Three Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(730	)	$	176	$	(134	)	$	(87	)

	Six Months Ended					Six Months Ended
	June 30,					June 30,
	2019			2018		2019			2018
Interest rate swap	$	(1,157	)	$	626	$	(273	)	$	(125	)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Assets and (Liabilities) Measured at Fair Value on a Recurring Basis

	Level	June 30, 2019			December 31, 2018
Deferred compensation plan assets	1	$	100,365		$	84,435
Available-for-sale debt securities	1	$	60,707		$	56,556
Deferred compensation plan liabilities	1	$	(100,365	)	$	(84,435	)
Interest rate swaps	2	$	(427	)	$	1,096
Contingent purchase price liabilities	3	$	(28,005	)	$	(39,708	)

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

	2019			2018
Beginning balance – January 1	$	(39,708	)	$	(37,574	)
Additions from business acquisitions		(1,806	)		(12,361	)
Settlement of contingent purchase price liabilities		13,316			6,457
Change in fair value of contingencies		561			(2,562	)
Change in net present value of contingencies		(368	)		(488	)
Ending balance – June 30	$	(28,005	)	$	(46,528	)

Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Other Comprehensive Income and Tax Impact

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Net unrealized gain (loss) on available-for-sale securities, net of income taxes (1)	$	312		$	4		$	822		$	(326	)
Net unrealized (loss) gain on interest rate swaps, net of income taxes (2)		(730	)		176			(1,157	)		626
Foreign currency translation		(4	)		(6	)		(6	)		(12	)
Total other comprehensive income	$	(422	)	$	174		$	(341	)	$	288

(1)

(2)

Employee Share Plans (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Share-Based Compensation Awards

Compensation expense for stock-based awards recognized during the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Stock options	$	479	$	1,030	$	998	$	1,548
Restricted stock awards		1,153		1,383		2,082		2,302
Performance share units		285		—		319		—
Total stock-based compensation expense	$	1,917	$	2,413	$	3,399	$	3,850

Performance Shares [Member]

	Stock Options					Restricted Stock Awards
	Number of Options			Weighted Average Exercise Price Per Share		Number of Shares			Weighted Average Grant-Date Fair Value (1)
Outstanding at beginning of year		3,622		$	11.97		632		$	15.35
Granted		—		$	—		227		$	19.78
Exercised or released		(378	)	$	8.05		(282	)	$	13.76
Expired or canceled		—		$	—		—		$	—
Outstanding at June 30, 2019		3,244		$	12.43		577		$	17.88
Exercisable at June 30, 2019		2,287		$	10.65

(1)

Represents weighted average market value of the shares; awards are granted at no cost to the recipients.

The following table presents our PSU award activity during the six months ended June 30, 2019 (in thousands, except per share data):

	PSUs		Grant-Date Fair Value Per Unit
Outstanding at beginning of year		—	$	—
Granted		173	$	19.82
Vested		—	$	—
Adjustments for performance results		—	$	—
Expired or cancelled		—	$	—
Outstanding at June 30, 2019		173	$	19.82

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Computation of Basic and Diluted Earnings Per Share from Continuing Operations

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator:
Income from continuing operations	$	16,614	$	13,121	$	54,179	$	48,931
Denominator:
Basic
Weighted average common shares outstanding		54,090		54,594		54,188		54,334
Diluted
Stock options (1)		1,188		1,550		1,247		1,500
Restricted stock awards (1)		176		290		225		329
Contingent shares (2)		41		3		41		3
Diluted weighted average common shares outstanding (3)		55,495		56,437		55,701		56,166
Basic earnings per share from continuing operations	$	0.31	$	0.24	$	1.00	$	0.90
Diluted earnings per share from continuing operations	$	0.30	$	0.23	$	0.97	$	0.87

(1)

(2)

(3)

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2019

InR Advisory Services, LLC (“InR”) and Laurus Transaction Advisors, LLC (“Laurus”) [Member]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

	Six Months Ended
	June 30,
	2019			2018
Cash	$	—		$	306
Accounts receivable, net		550			1,920
Other assets		5			12
Identifiable intangible assets		654			3,864
Current liabilities		(288	)		(1,717	)
Total identifiable net assets	$	921		$	4,385
Goodwill		2,165			32,255
Aggregate purchase price	$	3,086		$	36,640

Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Segment Information

Segment information for the three and six months ended June 30, 2019 and 2018 is presented below. We do not manage our assets on a segment basis, therefore segment assets are not presented below.

	Three Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	154,373		$	72,127		$	8,998	$	—		$	235,498
Operating expenses		128,158			61,075			8,204		711			198,148
Gross margin		26,215			11,052			794		(711	)		37,350
Corporate general & admin		—			—			—		10,566			10,566
Operating income (loss)		26,215			11,052			794		(11,277	)		26,784
Other (expense) income:
Interest expense		—			(14	)		—		(1,573	)		(1,587	)
Gain on sale of operations, net		50			—			—		—			50
Other (expense) income, net		(66	)		174			1		(3,420	)		(3,311	)
Total other (expense) income		(16	)		160			1		(4,993	)		(4,848	)
Income (loss) from continuing operations before income tax expense	$	26,199		$	11,212		$	795	$	(16,270	)	$	21,936

	Three Months Ended June 30, 2018
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	151,737		$	72,753		$	8,151	$	—		$	232,641
Operating expenses		129,070			61,165			7,567		7,300			205,102
Gross margin		22,667			11,588			584		(7,300	)		27,539
Corporate general & admin		—			—			—		9,993			9,993
Operating income (loss)		22,667			11,588			584		(17,293	)		17,546
Other (expense) income:
Interest expense		—			(15	)		—		(1,802	)		(1,817	)
Other (expense) income, net		(17	)		30			—		617			630
Total other (expense) income		(17	)		15			—		(1,185	)		(1,187	)
Income (loss) from continuing operations before income tax expense	$	22,650		$	11,603		$	584	$	(18,478	)	$	16,359

Segment information for the six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Six Months Ended June 30, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	339,517		$	148,382		$	17,597	$	—		$	505,496
Operating expenses		262,616			122,446			16,204		12,378			413,644
Gross margin		76,901			25,936			1,393		(12,378	)		91,852
Corporate general & admin		—			—			—		22,246			22,246
Operating income (loss)		76,901			25,936			1,393		(34,624	)		69,606
Other income (expense):
Interest expense		—			(24	)		—		(2,964	)		(2,988	)
Gain on sale of operations, net		547			—			—		—			547
Other (expense) income, net		(202	)		195			1		5,955			5,949
Total other income		345			171			1		2,991			3,508
Income (loss) from continuing operations before income tax expense	$	77,246		$	26,107		$	1,394	$	(31,633	)	$	73,114

	Six Months Ended June 30, 2018
	Financial Services		Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	332,340	$	150,083		$	16,308	$	—		$	498,731
Operating expenses		262,103		122,298			14,842		10,609			409,852
Gross margin		70,237		27,785			1,466		(10,609	)		88,879
Corporate general & admin		—		—			—		20,021			20,021
Operating income (loss)		70,237		27,785			1,466		(30,630	)		68,858
Other income (expense):
Interest expense		—		(89	)		—		(3,508	)		(3,597	)
Gain on sale of operations, net		—		—			—		663			663
Other income (expense), net		248		222			—		(1,069	)		(599	)
Total other income (expense)		248		133			—		(3,914	)		(3,533	)
Income (loss) from continuing operations before income tax expense	$	70,485	$	27,918		$	1,466	$	(34,544	)	$	65,325

Leases (Tables)

6 Months Ended

Jun. 30, 2019