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Three Months Ended

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Range of effective rates

1.61% - 4.75%

2.12% - 5.50%

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
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	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		54,513,892

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 216,942	$ 567
Restricted cash	28,927	29,595
Accounts receivable, net	263,180	222,031
Other current assets	24,540	24,325
Current assets before funds held for clients	533,589	276,518
Funds held for clients	141,984	179,502
Total current assets	675,573	456,020
Non-current assets:
Property and equipment, net	39,899	39,412
Goodwill and other intangible assets, net	666,112	654,671
Assets of deferred compensation plan	92,613	106,851
Operating lease right-of-use asset, net	138,485	140,831
Other non-current assets	3,876	2,989
Total non-current assets	940,985	944,754
Total assets	1,616,558	1,400,774
Current liabilities:
Accounts payable	62,329	68,510
Income taxes payable	13,089	57
Accrued personnel costs	29,809	59,898
Contingent purchase price liability	17,514	16,193
Operating lease liability	28,652	29,030
Other current liabilities	15,817	13,218
Current liabilities before client fund obligations	167,210	186,906
Client fund obligations	142,219	179,020
Total current liabilities	309,429	365,926
Non-current liabilities:
Bank debt	383,000	105,500
Debt issuance costs	(1,077)	(1,167)
Total long-term debt	381,923	104,333
Income taxes payable	3,185	3,053
Deferred income taxes, net	11,469	11,720
Deferred compensation plan obligations	92,613	106,851
Contingent purchase price liability	15,167	15,896
Operating lease liability	129,624	132,018
Other non-current liabilities	2,888	1,739
Total non-current liabilities	636,869	375,610
Total liabilities	946,298	741,536
STOCKHOLDERS' EQUITY
Common stock	1,332	1,331
Additional paid in capital	719,616	714,704
Retained earnings	516,424	479,576
Treasury stock	(565,180)	(535,693)
Accumulated other comprehensive loss	(1,932)	(680)
Total stockholders’ equity	670,260	659,238
Total liabilities and stockholders’ equity	$ 1,616,558	$ 1,400,774

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Revenue	$ 277,455	$ 269,998
Operating expenses	199,827	215,496
Gross margin	77,628	54,502
Corporate general and administrative expenses	10,489	11,680
Operating income	67,139	42,822
Other (expense) income:
Interest expense	(1,119)	(1,401)
Gain on sale of operations, net	95	497
Other (expense) income, net	(15,800)	9,260
Total other (expense) income, net	(16,824)	8,356
Income from continuing operations before income tax expense	50,315	51,178
Income tax expense	13,453	13,613
Income from continuing operations	36,862	37,565
Loss from discontinued operations, net of tax	(14)	(96)
Net income	$ 36,848	$ 37,469
Earnings per share - basic	$ 0.68	$ 0.69
Earnings per share - diluted	$ 0.66	$ 0.67
Basic weighted average shares outstanding	54,571	54,287
Diluted weighted average shares outstanding	55,945	55,915
Comprehensive income:
Net income	$ 36,848	$ 37,469
Other comprehensive (loss) income, net of tax	(1,252)	81
Comprehensive income	$ 35,596	$ 37,550

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 [Member]
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 impact of ASU 2018-02adoption					(101)	101
Net income	37,469				37,469
Other comprehensive income (loss)	81					81
Share repurchases	(11,558)		$ (11,558)
Share repurchases, Shares			580
Restricted Stock		$ 1		(1)
Restricted Stock, Shares		173
Stock options exercised	1,400	$ 2		1,398
Stock options exercised, Shares		189
Stock-based compensation	1,482			1,482
Business acquisitions	950	$ 1		949
Business acquisitions, Shares		47
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
Balance, Amount at Dec. 31, 2019	659,238	$ 1,331	$ (535,693)	714,704	479,576	(680)
Balance, Shares at Dec. 31, 2019		133,056	77,637
Net income	36,848				36,848
Other comprehensive income (loss)	(1,252)					(1,252)
Share repurchases	(29,487)		$ (29,487)
Share repurchases, Shares			1,174
Stock options exercised	$ 1,013	$ 1		1,012
Stock options exercised, Shares	116	116
Stock-based compensation	$ 2,023			2,023
Business acquisitions	1,877			1,877
Business acquisitions, Shares		69
Balance, Amount at Mar. 31, 2020	$ 670,260	$ 1,332	$ (565,180)	$ 719,616	$ 516,424	$ (1,932)
Balance, Shares at Mar. 31, 2020		133,241	78,811

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 36,848	$ 37,469
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization expense	5,704	5,659
Bad debt expense, net of recoveries	2,289	1,054
Adjustment to contingent earnout liability	(684)	(281)
Stock-based compensation expense	2,023	1,482
Excess tax benefits from share based payment arrangements	(501)	(673)
Other, net	190	(298)
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	(42,566)	(57,886)
Other assets	(1,237)	1,778
Accounts payable	(6,336)	2,860
Income taxes payable	13,665	14,195
Accrued personnel costs	(30,201)	(29,978)
Other liabilities	2,175	(43)
Operating cash flows used in continuing operations	(18,631)	(24,662)
Operating cash flows used in discontinued operations	(16)	(91)
Net cash used in operating activities	(18,647)	(24,753)
Cash flows from investing activities:
Business acquisitions and purchases of client lists, net of cash acquired	(7,848)	(1,291)
Purchases of client fund investments	(3,447)	(9,470)
Proceeds from the sales and maturities of client fund investments	17,118	6,865
Increase (decrease) in funds held for clients	822	(395)
Additions to property and equipment	(2,641)	(5,452)
Other, net	351	7
Net cash provided by (used in) investing activities	4,355	(9,736)
Cash flows from financing activities:
Proceeds from bank debt	379,754	141,800
Payment of bank debt	(102,254)	(95,300)
Payment for acquisition of treasury stock	(29,487)	(11,558)
Decrease in client funds obligations	(38,517)	(23,207)
Proceeds from exercise of stock options	1,013	1,400
Payment of contingent consideration of acquisitions	(2,624)	(2,999)
Other, net	(113)	(111)
Net cash provided by financing activities	207,772	10,025
Net Increase (decrease) in cash, cash equivalents and restricted cash	193,480	(24,464)
Cash, cash equivalents and restricted cash at beginning of year	146,505	130,554
Cash, cash equivalents and restricted cash at end of period	339,985	106,090
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:
Cash and cash equivalents	216,942	2,143
Restricted cash	28,927	27,721
Cash equivalents included in funds held for clients	94,116	76,226
Cash, cash equivalents and restricted cash at end of period	$ 339,985	$ 106,090

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

CBIZ, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Continued)

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

SEC – United States Securities and Exchange Commission

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

Topic 326 – ASU No. 2016-13, Financial Instruments – Credit Losses

CECL – Current expected credit losses

Description of Business: CBIZ, Inc. is a leading provider of financial, insurance and advisory services to businesses throughout the United States and parts of Canada. Acting through its subsidiaries, it has been serving small and medium-sized businesses, as well as individuals, government entities, and not-for-profit enterprises. 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 13, 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 generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (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, 2019.

In our opinion, 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, 2020.

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 Topic 326, 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, 2019. Effective January 1, 2020, we changed our accounting policy for the valuation of accounts receivable allowances and available-for-sale securities as a result of adopting Topic 326 as described in Note 2, New Accounting Pronouncements.

New Accounting Pronouncements

3 Months Ended

Mar. 31, 2020

Accounting Changes And Error Corrections [Abstract]

New Accounting Pronouncements

NOTE 2. New Accounting Pronouncements

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.

Accounting Standards Adopted in 2020

Credit Losses: Effective January 1, 2020, we adopted ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss model with an expected loss model that is referred to as the current expected credit loss model. The CECL model requires the Company to immediately recognize an estimate of credit losses that are expected to occur over the life of financial instruments recorded at amortized cost, including trade receivables.

Topic 326 also amends the other-than-temporary impairment model for available-for-sale securities by requiring the recognition of credit loss impairments as an allowance rather than a write-down on available-for-sale securities. The length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists.

For financial instruments recorded at amortized cost, we did not recognize a cumulative-effect adjustment to retained earnings as the adoption of Topic 326 did not have a material impact on our consolidated financial statements. For available-for-sale securities, the updated guidance was applied prospectively.

Fair Value Measurement: On January 1, 2020, we adopted 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. The adoption of this guidance did not have a material impact on our consolidated financial statements.

Income Taxes: On January 1, 2020, we adopted ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The adoption of this guidance did not have a material impact on our consolidated financial statements.

Recently Issued Accounting Standards

Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. We are currently evaluating the effect of this new standard on our consolidated financial statements.

Accounts Receivable, Net

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Accounts Receivable, Net

Note 3. Accounts Receivable, Net

Accounts receivable, less the allowance for doubtful accounts, represents the net amount expected to be collected. Assessing the collectability of the receivables (billed and unbilled) requires management judgment based on a combination of factors, including but not limited to, an evaluation of our historical incurred loss experience, credit-worthiness of our clients, age of the trade receivable balance, current economic conditions that may affect a client’s ability to pay, and reasonable and supportable forecasts. Receivables are charged-off against the allowance when the balance is deemed uncollectible.

We considered the impact of the COVID-19 pandemic, the resulting macroeconomic conditions, and client’s location, industry, and financial position in our estimation of the allowance for doubtful accounts. During the three months ended March 31, 2020, we recorded bad debt expense of $2.0 million due to the COVID-19 pandemic.

Accounts receivable, net balances at March 31, 2020 and December 31, 2019 were as follows (in thousands):

	March 31,			December 31,
	2020			2019
Trade accounts receivable	$	177,788		$	176,375
Unbilled revenue		102,497			60,035
Total accounts receivable		280,285			236,410
Allowance for doubtful accounts		(17,105	)		(14,379	)
Accounts receivable, net	$	263,180		$	222,031

Changes to the allowance for doubtful accounts for the three month ended March 31, 2020 are as follows (in thousands):

	March 31,
	2020
Balance at beginning of period	$	(14,379	)
Provision for losses		(2,840	)
Charge-offs, net of recoveries		114
Allowance for doubtful accounts	$	(17,105	)

Debt and Financing Arrangements

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Debt and Financing Arrangements

Note 4. Debt and Financing Arrangements

2018 Credit Facility - Our primary financing arrangement is the $400 million unsecured credit facility (the “2018 credit facility” or the “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 matures in 2023. The balance outstanding under the 2018 credit facility was $383.0 million and $105.5 million at March 31, 2020 and December 31, 2019, respectively. Effective interest rates, including the impact of interest rate swaps associated with the 2018 credit facility, were as follows:

We had approximately $10.0 million of available funds under the credit facility at March 31, 2020, net of outstanding letters of credit of $1.3 million. As of March 31, 2020, we were in compliance with our debt covenants.

Other Line of Credit - We have an unsecured $20.0 million line of credit by and among CBIZ Benefits and Insurance, Inc. and the Huntington National Bank. We utilize this line 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 6, 2020, did not have a balance outstanding at March 31, 2020. Refer to our Annual Report on Form 10-K for the year ended December 31, 2019 for additional details of our debt and financing arrangements.

Interest Expense - Interest expense, including amortization of deferred financing costs, commitment fees, line of credit fees, and other applicable bank charges, was as follows (in thousands):

	Three Months Ended
	March 31,
	2020		2019
2018 credit facility	$	1,101	$	1,382
Other line of credit		1		—
Other		17		19
	$	1,119	$	1,401

Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 5. Commitments and Contingencies

Letters of Credit and Guarantees – We provide letters of credit to landlords (lessors) of our leased office facilities in lieu of cash security deposits which totaled $1.3 million at both March 31, 2020 and December 31, 2019. In addition, we provide license bonds to various state agencies to meet certain licensing requirements. The amount of license bonds outstanding was $2.3 million at both March 31, 2020 and December 31, 2019.

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 plaintiff now seeks compensatory damages of between $124.0 million and $266.0 million, plus punitive damages. The Court recently denied CBIZ Benefits’ motion for a summary judgment and trial is set for September 2020.

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 arising in the ordinary course of business.

Financial Instruments

3 Months Ended

Mar. 31, 2020

Investments All Other Investments [Abstract]

Financial Instruments

Note 6. 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 on the accompanying Consolidated Balance Sheets. The par value of these investments totaled $45.3 million and $58.9 million at March 31, 2020 and December 31, 2019, respectively. These bonds have maturity or callable dates ranging from April 2020 through November 2024.

At March 31, 2020, unrealized losses on the securities totaling $0.4 million have not been recognized as a credit loss because the bonds are investment grade quality and management is not required or does not intend to sell prior to an expected recovery in value. The bond issuers continue to make timely principal and interest payments.

The following table summarizes our bond activity for the three months ended March 31, 2020 and the twelve months ended December 31, 2019 (in thousands):

	Three Months Ended			Twelve Months Ended
	March 31, 2020			December 31, 2019
Fair value at beginning of period	$	60,659		$	56,556
Purchases		3,447			27,216
Sales		(13,768	)		(1,686	)
Maturities and calls		(3,350	)		(22,272	)
Change in bond premium		(343	)		(460	)
Fair market value adjustment		(797	)		1,305
Fair value at end of period	$	45,848		$	60,659

In addition to the available-for-sale securities discussed above, we also hold certificates of deposit and other depository assets in the amount of $2.0 million and $2.5 million at March 31, 2020 and December 31, 2019, respectively, related to the funds held for clients.

Interest Rate Swaps – We utilize interest rate swaps to manage interest rate risk exposure associated with our floating-rate debt under the 2018 credit facility, or the forecasted acquisition of such liability. We do not purchase or hold any derivative instruments for trading or speculative purposes.

In March 2020, we entered into a forward starting swap with a notional amount of $50 million. Refer to the Annual Report on Form 10-K for the year ended December 31, 2019 for further discussion on our interest rate swaps.

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 March 31, 2020 was (i) $25 million – 1.300% – October 2020, (ii) $10 million – 1.120% – February 2021, (iii) $20 million – 1.770% – May 2022 (iv) $15 million – 2.640% – June 2023 and (v) $50 million – 0.885% – April 2025. Refer to Note 7, Fair Value Measurements, for additional disclosures regarding fair value measurements.

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	35,000	$	(178	)	Other current liabilities
Interest rate swaps	$	35,000	$	(1,706	)	Other non-current liabilities
Interest rate swap	$	50,000	$	492		Other non-current assets
	December 31, 2019
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	45,000	$	(591	)	Other non-current liabilities
Interest rate swap	$	25,000	$	66		Other current assets

The following table summarizes the effects of the interest rate swap on our accompanying Consolidated Statements of Comprehensive Income for the three months ended March 31, 2020 and 2019 (in thousands):

	Loss Recognized in AOCL, Net of Tax						(Loss) Gain Reclassified from AOCL into Expense
	Three Months Ended						Three Months Ended
	March 31,						March 31,
	2020			2019			2020			2019
Interest rate swaps	$	(653	)	$	(427	)	$	(34	)	$	139

Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 7. Fair Value Measurements

The following table summarizes our assets and liabilities at March 31, 2020 and December 31, 2019 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	March 31, 2020			December 31, 2019
Deferred compensation plan assets	1	$	92,613		$	106,851
Corporate and municipal bonds	1		45,848			60,659
Deferred compensation plan liabilities	1		(92,613	)		(106,851	)
Interest rate swaps, net	2		(1,392	)		(525	)
Contingent purchase price liabilities	3		(32,681	)		(32,089	)

During the three months ended March 31, 2020 and 2019, 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 three months ended March 31, 2020 and 2019 (pre-tax basis, in thousands):

	2020			2019
Beginning balance – January 1	$	(32,089	)	$	(39,708	)
Additions from business acquisitions		(4,670	)		(1,806	)
Settlement of contingent purchase price liabilities		3,394			3,685
Change in fair value of contingencies		875			502
Change in net present value of contingencies		(191	)		(221	)
Ending balance – March 31	$	(32,681	)	$	(37,548	)

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 11, Business Combinations, 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 (Loss) Income

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Other Comprehensive (Loss) Income

Note 8. Other Comprehensive (LOSS) Income

The following table is a summary of other comprehensive (loss) income and discloses the tax impact of each component of other comprehensive (loss) income for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months Ended
	March 31,
	2020			2019
Net unrealized (loss) gain on available-for-sale securities, net of income taxes (1)	$	(587	)	$	510
Net unrealized loss on interest rate swaps, net of income taxes (2)		(653	)		(427	)
Foreign currency translation		(12	)		(2	)
Total other comprehensive (loss) income	$	(1,252	)	$	81

(1)

Net of income tax (benefit) expense of ($210) and $189 for the three months ended March 31, 2020 and 2019, respectively.

(2)

Net of income tax benefit of ($210) and ($132) for the three months ended March 31, 2020 and 2019, respectively.

Employee Share Plans

3 Months Ended

Mar. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Employee Share Plans

Note 9. Employee SHARE PLANS

The 2019 Stock Omnibus Incentive Plan (the “2019 Plan”), which expires in 2029, permits the grant of various forms of stock-based awards. The terms and vesting schedules for the stock-based awards vary by type and date of grant. A maximum of 3.1 million stock options, restricted stock or other 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. Refer to the Annual Report on Form 10-K for the year ended December 31, 2019 for further discussion on the 2019 Plan.

Compensation expense for stock-based awards recognized during the three months ended March 31, 2020 and 2019 was as follows (in thousands):

	Three Months Ended
	March 31,
	2020		2019
Stock options	$	421	$	519
Restricted stock units and awards		1,171		929
Performance share units		431		34
Total stock-based compensation expense	$	2,023	$	1,482

Stock Options and Restricted Stock Units and Awards – The following table presents our stock options and restricted stock award activity during the three months ended March 31, 2020 (in thousands, except per share data):

	Stock Options					Restricted Stock Units and 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		2,412		$	13.58		577		$	17.87
Granted		—		$	—		132		$	25.75
Exercised / Vested		(116	)	$	8.76		(85	)	$	18.62
Expired or cancelled		—		$	—		—		$	—
Outstanding at March 31, 2020		2,296		$	13.82		624		$	19.43
Exercisable at March 31, 2020		1,340		$	11.78

(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 achievement of an earnings per share target (weighted 70%) and achievement of 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 three months ended March 31, 2020 (in thousands, except per share data):

	Performance Share Units		Weighted Average Grant-Date Fair Value
Outstanding at beginning of year		200	$	19.82
Granted		132	$	25.75
Vested		—	$	—
Expired or cancelled		—	$	—
Outstanding at March 31, 2020		332	$	22.17

Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 10. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the three months ended March 31, 2020 and 2019 (in thousands, except per share data).

	Three Months Ended
	March 31,
	2020		2019
Numerator:
Income from continuing operations	$	36,862	$	37,565
Denominator:
Basic
Weighted average common shares outstanding		54,571		54,287
Diluted
Stock options (1)		993		1,311
Restricted stock units and awards (1)		296		274
Contingent shares (2)		85		43
Diluted weighted average common shares outstanding (3)		55,945		55,915
Basic earnings per share from continuing operations	$	0.68	$	0.69
Diluted earnings per share from continuing operations	$	0.66	$	0.67

(1)

Approximately 33 thousand share based awards were excluded from the calculation of diluted earnings per share for the three months ended March 31, 2020 as their effect would be anti-dilutive whereas 642 thousand share based awards were excluded from the calculation of diluted earnings per share for the three months ended March 31, 2019.

(2)

Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future conditions have been met. Refer to Note 11, Business Combinations, for further details.

(3)

The denominator used in calculated diluted earnings per share did not include approximately 332 thousand and 173 thousand performance share units for the three months ended March 31, 2020 and 2019, respectively. The performance conditions associated with these performance share units were not met and consequently none of these performance share units were considered as issuable for the three months ended March 31, 2020 and 2019.

Business Combinations

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Business Combinations

Note 11. BUSINESS COMBINATIONS

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.

During the three months ended March 31, 2020, we completed the following acquisitions:

•

Effective February 1, 2020, we acquired substantially all the assets of Alliance Insurance Services, Inc. (“Alliance”), a provider of insurance and advisory services based in Washington, DC. Operating results will be reported in the Benefits and Insurance Services practice group.

•

Effective February 1, 2020, we acquired substantially all the assets of Pension Dynamics Company, LLC (“PD”), a full-service retirement and benefits plan advisor based in Pleasant Hill, California. Operating results will be reported in the Benefits and Insurance Services practice group.

•

Effective February 1, 2020, we acquired substantially all the assets of Sunshine Systems (“Sunshine”), a payroll solutions provider based in Massachusetts. Operating results will be reported in the Benefits and Insurance Services practice group.

Aggregate consideration for these acquisitions consisted of approximately $9.4 million in cash, $0.9 million in our common stock and $4.8 million in contingent consideration. Under the terms of the 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 $6.2 million. As of March 31, 2020, the aggregated fair value of contingent consideration related to these acquisitions was $4.7 million, of which $2.0 million was recorded in “Contingent purchase price liability – current” and $2.7 million was recorded in “Contingent purchase price liability – non-current” in the accompanying Consolidated Balance Sheets at March 31, 2020. Refer to Note 7, Fair Value Measurements, for additional information regarding contingent purchase price liability fair value and fair value adjustments.

Annualized revenue from the acquired businesses is estimated to be approximately $6.1 million. Pro forma results of operations for this acquisition have not been presented because the effects of the acquisition were not material to our “Income from continuing operations before income taxes.”

During the three months ended March 31, 2019, we completed the following acquisition:

•

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. Wenner is included as a component of our Financial Services practice group.

Aggregate 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 March 31, 2019.

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

The following table is a preliminary summary of the identifiable assets acquired, liabilities assumed and aggregate purchase price for the acquisitions for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months Ended
	March 31,
	2020			2019
Cash and cash equivalents	$	125		$	-
Accounts receivable, net		871			550
Client funds		1,716			-
Operating lease right of use asset, net		224			-
Identifiable intangible assets		3,629			654
Other current assets		53			5
Operating lease liability - current		(66	)		-
Other current liabilities		(779	)		(288	)
Client fund obligations		(1,716	)		-
Operating lease liability - noncurrent		(158	)		-
Total identifiable net assets	$	3,899		$	921
Goodwill		11,158			2,165
Aggregate purchase price	$	15,057		$	3,086

The goodwill of $11.2 million and $2.2 million arising from the acquisitions in the first quarter of 2020 and 2019, respectively, primarily results from expected future cash flows 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 – During the three months ended March 31, 2020, we purchased two client lists in the Benefits and Insurance Services practice group for total consideration of $0.5 million, of which $0.3 million is contingent. During the three months ended March 31, 2019, we did not purchase any client lists.

Change in Contingent Purchase Price Liability for Previous Acquisitions – During the three months ended March 31, 2020 and 2019, the fair value of the contingent purchase price liability related to prior acquisitions decreased by $0.7 million and $0.3 million, respectively. These changes in fair value are attributable to subsequent measurement adjustments based on projected future results of the acquired businesses, net present value adjustments and changes in stock price. These adjustments are included in “Other (expense) income, net” in the accompanying Consolidated Statements of Comprehensive Income.

Contingent Earnouts for Previous Acquisitions and Client Lists – We paid $2.4 million in cash and issued 0.1 million shares of our common stock during the three months ended March 31, 2020 for previous acquisitions. During the same period last year, we paid $2.7 million in cash and issued no shares of our common stock. During the three months ended March 31, 2020 and 2019, we paid approximately $0.3 million in cash for previous client list purchases, respectively.

Divestitures

3 Months Ended

Mar. 31, 2020

Discontinued Operations And Disposal Groups [Abstract]

Divestitures

Note 12. 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 $0.1 million for the three months ended March 31, 2020, mostly attributable to a small book of business in the Benefits and Insurance practice group. For the same period in 2019, we recorded a gain of $0.5 million related to a small accounting firm in the Financial Services practice group.

Segment Disclosures

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Disclosures

Note 13. 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 the Company’s non-qualified deferred compensation plan, share-based compensation, consolidation and integration charges, certain professional fees, certain advertising costs and other various expenses.

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.

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

	Three Months Ended March 31, 2020
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	188,777	$	—	$	—	$	188,777
Core Benefits and Insurance Services		—		76,472		—		76,472
Non-core Benefits and Insurance Services		—		3,140		—		3,140
Managed networking, hardware services		—		—		6,575		6,575
National Practices consulting		—		—		2,491		2,491
Total revenue	$	188,777	$	79,612	$	9,066	$	277,455

	Three Months Ended March 31, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	185,144	$	—	$	—	$	185,144
Core Benefits and Insurance Services		—		73,538		—		73,538
Non-core Benefits and Insurance Services		—		2,717		—		2,717
Managed networking, hardware services		—		—		6,424		6,424
National Practices consulting		—		—		2,175		2,175
Total revenue	$	185,144	$	76,255	$	8,599	$	269,998

Segment information for the three months ended March 31, 2020 and 2019 was as follows (in thousands):

	Three Months Ended March 31, 2020
	Financial Services		Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	188,777	$	79,612		$	9,066	$	—		$	277,455
Operating expenses		138,598		65,223			8,283		(12,277	)		199,827
Gross margin		50,179		14,389			783		12,277			77,628
Corporate general & administrative expenses		—		—			—		10,489			10,489
Operating income		50,179		14,389			783		1,788			67,139
Other (expense) income:
Interest expense		—		(11	)		—		(1,108	)		(1,119	)
Gain on sale of operations, net		40		55			—		—			95
Other (expense) income, net		19		96			1		(15,916	)		(15,800	)
Total other (expense) income		59		140			1		(17,024	)		(16,824	)
Income (loss) from continuing operations before income tax expense	$	50,238	$	14,529		$	784	$	(15,236	)	$	50,315

	Three Months Ended March 31, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	185,144		$	76,255		$	8,599	$	—		$	269,998
Operating expenses		134,458			61,371			8,000		11,667			215,496
Gross margin		50,686			14,884			599		(11,667	)		54,502
Corporate general & administrative expenses		—			—			—		11,680			11,680
Operating income (loss)		50,686			14,884			599		(23,347	)		42,822
Other income (expense):
Interest expense		—			(10	)		—		(1,391	)		(1,401	)
Gain on sale of operations, net		497			—			—		—			497
Other income (expense), net		(136	)		21			—		9,375			9,260
Total other income		361			11			—		7,984			8,356
Income (loss) from continuing operations before income tax expense	$	51,047		$	14,895		$	599	$	(15,363	)	$	51,178

Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

NOTE 14. LEASES

We determine if a contract is a lease at inception. We have leases for office space and facilities, automobiles, and certain information technology equipment. All of our leases are classified as operating leases and the majority of which are for office space and facilities.

Supplemental balance sheet information related to the Company’s operating leases as of March 31, 2020 and December 31, 2019 was as follows (in thousands):

March 31,

2020

December 31,

2019

Weighted-average remaining lease term

6.7 years

6.9 years

Weighted-average discount rate

3.9%

3.6%

The components of lease cost and other lease information as of and during the three-month period ended March 31, 2020 are as follows (in thousands):

	March 31, 2020		March 31, 2019
Operating lease cost	$	8,822	$	9,242
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,263	$	9,260

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.

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, we made lease payments to those related parties of approximately $0.6 million and $0.6 million for the three months ended March 31, 2020 and 2019, respectively.

Maturities of lease liabilities at March 31, 2020 and December 31, 2019 were as follows (in thousands):

	March 31, 2020
2020	$	25,892
2021		32,878
2022		26,636
2023		24,771
2024		22,175
Thereafter		68,338
Total undiscounted lease payments		200,690
Less: imputed interest		(42,414	)
Total lease liabilities	$	158,276

	December 31, 2019
2020	$	34,775
2021		32,371
2022		26,112
2023		24,273
2024		21,578
Thereafter		67,025
Total undiscounted lease payments		206,134
Less: imputed interest		(45,086	)
Total lease liabilities	$	161,048

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
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 SEC – United States Securities and Exchange Commission Topic 815 – ASU No. 2017-12, Derivatives and Hedging Topic 326 – ASU No. 2016-13, Financial Instruments – Credit Losses CECL – Current expected credit losses Description of Business: CBIZ, Inc. is a leading provider of financial, insurance and advisory services to businesses throughout the United States and parts of Canada. Acting through its subsidiaries, it has been serving small and medium-sized businesses, as well as individuals, government entities, and not-for-profit enterprises. 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 13, Segment Disclosures, to the accompanying consolidated financial statements.
Basis of Consolidation	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	Unaudited Interim Financial Statements: The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (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, 2019. In our opinion, 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, 2020.
Use of Estimates	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 Policy	Changes in Accounting Policies: Except for the adoption of Topic 326, 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, 2019. Effective January 1, 2020, we changed our accounting policy for the valuation of accounts receivable allowances and available-for-sale securities as a result of adopting Topic 326 as described in Note 2, New Accounting Pronouncements.
New Accounting Pronouncements	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. Accounting Standards Adopted in 2020 Credit Losses: Effective January 1, 2020, we adopted ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss model with an expected loss model that is referred to as the current expected credit loss model. The CECL model requires the Company to immediately recognize an estimate of credit losses that are expected to occur over the life of financial instruments recorded at amortized cost, including trade receivables. Topic 326 also amends the other-than-temporary impairment model for available-for-sale securities by requiring the recognition of credit loss impairments as an allowance rather than a write-down on available-for-sale securities. The length of time a security has been in an unrealized loss position will no longer impact the determination of whether a credit loss exists. For financial instruments recorded at amortized cost, we did not recognize a cumulative-effect adjustment to retained earnings as the adoption of Topic 326 did not have a material impact on our consolidated financial statements. For available-for-sale securities, the updated guidance was applied prospectively. Fair Value Measurement: On January 1, 2020, we adopted 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. The adoption of this guidance did not have a material impact on our consolidated financial statements. Income Taxes: On January 1, 2020, we adopted ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The adoption of this guidance did not have a material impact on our consolidated financial statements. Recently Issued Accounting Standards Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. We are currently evaluating the effect of this new standard on our consolidated financial statements.

Accounts Receivable, Net (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net balances at March 31, 2020 and December 31, 2019 were as follows (in thousands):

	March 31,			December 31,
	2020			2019
Trade accounts receivable	$	177,788		$	176,375
Unbilled revenue		102,497			60,035
Total accounts receivable		280,285			236,410
Allowance for doubtful accounts		(17,105	)		(14,379	)
Accounts receivable, net	$	263,180		$	222,031

Schedule of Changes in the Allowance for Doubtful Accounts on Accounts Receivable

Changes to the allowance for doubtful accounts for the three month ended March 31, 2020 are as follows (in thousands):

	March 31,
	2020
Balance at beginning of period	$	(14,379	)
Provision for losses		(2,840	)
Charge-offs, net of recoveries		114
Allowance for doubtful accounts	$	(17,105	)

Debt and Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Summary of Unsecured Credit Facility

Effective interest rates, including the impact of interest rate swaps associated with the 2018 credit facility, were as follows:

Summary of Recognized Interest Expense

Interest expense, including amortization of deferred financing costs, commitment fees, line of credit fees, and other applicable bank charges, was as follows (in thousands):

	Three Months Ended
	March 31,
	2020		2019
2018 credit facility	$	1,101	$	1,382
Other line of credit		1		—
Other		17		19
	$	1,119	$	1,401

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Investments All Other Investments [Abstract]

Summary of Bond Activity

The following table summarizes our bond activity for the three months ended March 31, 2020 and the twelve months ended December 31, 2019 (in thousands):

	Three Months Ended			Twelve Months Ended
	March 31, 2020			December 31, 2019
Fair value at beginning of period	$	60,659		$	56,556
Purchases		3,447			27,216
Sales		(13,768	)		(1,686	)
Maturities and calls		(3,350	)		(22,272	)
Change in bond premium		(343	)		(460	)
Fair market value adjustment		(797	)		1,305
Fair value at end of period	$	45,848		$	60,659

Summary of Outstanding Interest Rate Swaps

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	35,000	$	(178	)	Other current liabilities
Interest rate swaps	$	35,000	$	(1,706	)	Other non-current liabilities
Interest rate swap	$	50,000	$	492		Other non-current assets
	December 31, 2019
	Notional		Fair
	Amount		Value			Balance Sheet Location
Interest rate swaps	$	45,000	$	(591	)	Other non-current liabilities
Interest rate swap	$	25,000	$	66		Other current assets

Summary of Effects of Interest Rate Swap

	Loss Recognized in AOCL, Net of Tax						(Loss) Gain Reclassified from AOCL into Expense
	Three Months Ended						Three Months Ended
	March 31,						March 31,
	2020			2019			2020			2019
Interest rate swaps	$	(653	)	$	(427	)	$	(34	)	$	139

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

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

	Level	March 31, 2020			December 31, 2019
Deferred compensation plan assets	1	$	92,613		$	106,851
Corporate and municipal bonds	1		45,848			60,659
Deferred compensation plan liabilities	1		(92,613	)		(106,851	)
Interest rate swaps, net	2		(1,392	)		(525	)
Contingent purchase price liabilities	3		(32,681	)		(32,089	)

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities

The following table summarizes the change in Level 3 fair values of our contingent purchase price liabilities for the three months ended March 31, 2020 and 2019 (pre-tax basis, in thousands):

	2020			2019
Beginning balance – January 1	$	(32,089	)	$	(39,708	)
Additions from business acquisitions		(4,670	)		(1,806	)
Settlement of contingent purchase price liabilities		3,394			3,685
Change in fair value of contingencies		875			502
Change in net present value of contingencies		(191	)		(221	)
Ending balance – March 31	$	(32,681	)	$	(37,548	)

Other Comprehensive (Loss) Income (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Summary of Other Comprehensive (Loss) Income and Tax Impact

	Three Months Ended
	March 31,
	2020			2019
Net unrealized (loss) gain on available-for-sale securities, net of income taxes (1)	$	(587	)	$	510
Net unrealized loss on interest rate swaps, net of income taxes (2)		(653	)		(427	)
Foreign currency translation		(12	)		(2	)
Total other comprehensive (loss) income	$	(1,252	)	$	81

(1)

Net of income tax (benefit) expense of ($210) and $189 for the three months ended March 31, 2020 and 2019, respectively.

(2)

Net of income tax benefit of ($210) and ($132) for the three months ended March 31, 2020 and 2019, respectively.

Employee Share Plans (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Share-Based Compensation Awards

Compensation expense for stock-based awards recognized during the three months ended March 31, 2020 and 2019 was as follows (in thousands):

	Three Months Ended
	March 31,
	2020		2019
Stock options	$	421	$	519
Restricted stock units and awards		1,171		929
Performance share units		431		34
Total stock-based compensation expense	$	2,023	$	1,482

Stock Award Activity

	Stock Options					Restricted Stock Units and 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		2,412		$	13.58		577		$	17.87
Granted		—		$	—		132		$	25.75
Exercised / Vested		(116	)	$	8.76		(85	)	$	18.62
Expired or cancelled		—		$	—		—		$	—
Outstanding at March 31, 2020		2,296		$	13.82		624		$	19.43
Exercisable at March 31, 2020		1,340		$	11.78

(1)

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

Performance Shares [Member]

Stock Award Activity

The following table presents our PSU award activity during the three months ended March 31, 2020 (in thousands, except per share data):

	Performance Share Units		Weighted Average Grant-Date Fair Value
Outstanding at beginning of year		200	$	19.82
Granted		132	$	25.75
Vested		—	$	—
Expired or cancelled		—	$	—
Outstanding at March 31, 2020		332	$	22.17

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share from Continuing Operations

	Three Months Ended
	March 31,
	2020		2019
Numerator:
Income from continuing operations	$	36,862	$	37,565
Denominator:
Basic
Weighted average common shares outstanding		54,571		54,287
Diluted
Stock options (1)		993		1,311
Restricted stock units and awards (1)		296		274
Contingent shares (2)		85		43
Diluted weighted average common shares outstanding (3)		55,945		55,915
Basic earnings per share from continuing operations	$	0.68	$	0.69
Diluted earnings per share from continuing operations	$	0.66	$	0.67

(1)

(2)

(3)

Business Combinations (Tables)

3 Months Ended

Mar. 31, 2020

Business Acquisitions in 2019 and 2020 [Member]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

	Three Months Ended
	March 31,
	2020			2019
Cash and cash equivalents	$	125		$	-
Accounts receivable, net		871			550
Client funds		1,716			-
Operating lease right of use asset, net		224			-
Identifiable intangible assets		3,629			654
Other current assets		53			5
Operating lease liability - current		(66	)		-
Other current liabilities		(779	)		(288	)
Client fund obligations		(1,716	)		-
Operating lease liability - noncurrent		(158	)		-
Total identifiable net assets	$	3,899		$	921
Goodwill		11,158			2,165
Aggregate purchase price	$	15,057		$	3,086

Segment Disclosures (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Summary of Disaggregation of Revenue by Source

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

	Three Months Ended March 31, 2020
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	188,777	$	—	$	—	$	188,777
Core Benefits and Insurance Services		—		76,472		—		76,472
Non-core Benefits and Insurance Services		—		3,140		—		3,140
Managed networking, hardware services		—		—		6,575		6,575
National Practices consulting		—		—		2,491		2,491
Total revenue	$	188,777	$	79,612	$	9,066	$	277,455

	Three Months Ended March 31, 2019
	Financial		Benefits &		National
	Services		Insurance		Practices		Consolidated
Accounting, tax, advisory and consulting	$	185,144	$	—	$	—	$	185,144
Core Benefits and Insurance Services		—		73,538		—		73,538
Non-core Benefits and Insurance Services		—		2,717		—		2,717
Managed networking, hardware services		—		—		6,424		6,424
National Practices consulting		—		—		2,175		2,175
Total revenue	$	185,144	$	76,255	$	8,599	$	269,998

Summary of Segment Information

Segment information for the three months ended March 31, 2020 and 2019 was as follows (in thousands):

	Three Months Ended March 31, 2020
	Financial Services		Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	188,777	$	79,612		$	9,066	$	—		$	277,455
Operating expenses		138,598		65,223			8,283		(12,277	)		199,827
Gross margin		50,179		14,389			783		12,277			77,628
Corporate general & administrative expenses		—		—			—		10,489			10,489
Operating income		50,179		14,389			783		1,788			67,139
Other (expense) income:
Interest expense		—		(11	)		—		(1,108	)		(1,119	)
Gain on sale of operations, net		40		55			—		—			95
Other (expense) income, net		19		96			1		(15,916	)		(15,800	)
Total other (expense) income		59		140			1		(17,024	)		(16,824	)
Income (loss) from continuing operations before income tax expense	$	50,238	$	14,529		$	784	$	(15,236	)	$	50,315

	Three Months Ended March 31, 2019
	Financial Services			Benefits and Insurance Services			National Practices		Corporate and Other			Total
Revenue	$	185,144		$	76,255		$	8,599	$	—		$	269,998
Operating expenses		134,458			61,371			8,000		11,667			215,496
Gross margin		50,686			14,884			599		(11,667	)		54,502
Corporate general & administrative expenses		—			—			—		11,680			11,680
Operating income (loss)		50,686			14,884			599		(23,347	)		42,822
Other income (expense):
Interest expense		—			(10	)		—		(1,391	)		(1,401	)
Gain on sale of operations, net		497			—			—		—			497
Other income (expense), net		(136	)		21			—		9,375			9,260
Total other income		361			11			—		7,984			8,356
Income (loss) from continuing operations before income tax expense	$	51,047		$	14,895		$	599	$	(15,363	)	$	51,178

Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to the Company’s operating leases as of March 31, 2020 and December 31, 2019 was as follows (in thousands):

March 31,

2020

December 31,

2019

Weighted-average remaining lease term

6.7 years

6.9 years

Weighted-average discount rate

3.9%

3.6%

Schedule of Components of Lease Cost and Other Lease Information

The components of lease cost and other lease information as of and during the three-month period ended March 31, 2020 are as follows (in thousands):

	March 31, 2020		March 31, 2019
Operating lease cost	$	8,822	$	9,242
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	9,263	$	9,260

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities at March 31, 2020 and December 31, 2019 were as follows (in thousands):

	March 31, 2020
2020	$	25,892
2021		32,878
2022		26,636
2023		24,771
2024		22,175
Thereafter		68,338
Total undiscounted lease payments		200,690
Less: imputed interest		(42,414	)
Total lease liabilities	$	158,276

	December 31, 2019
2020	$	34,775
2021		32,371
2022		26,112
2023		24,273
2024		21,578
Thereafter		67,025
Total undiscounted lease payments		206,134
Less: imputed interest		(45,086	)
Total lease liabilities	$	161,048

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020 Practice_Groups
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of practice groups	3

Accounts Receivable, Net - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense	$ 2,840
COVID 19 Pandemic [Member]
Accounts Notes And Loans Receivable [Line Items]
Bad debt expense	$ 2,000

Accounts Receivable, Net - Accounts Receivables Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts Receivable Net Current [Abstract]
Trade accounts receivable	$ 177,788	$ 176,375
Unbilled revenue	102,497	60,035
Total accounts receivable	280,285	236,410
Allowance for doubtful accounts	(17,105)	(14,379)
Accounts receivable, net	$ 263,180	$ 222,031

Accounts Receivable, Net - Schedule of Changes in the Allowance for Doubtful Accounts on Accounts Receivable (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Receivables [Abstract]
Balance at beginning of period	$ (14,379)
Provision for losses	(2,840)
Charge-offs, net of recoveries	114
Allowance for doubtful accounts	$ (17,105)

Debt and Financing Arrangements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding balance under applicable credit facility	$ 383,000,000	$ 105,500,000
Outstanding letters of credit	1,300,000	1,300,000
Line of Credit [Member]
Debt Instrument [Line Items]
Revolving loan commitment	$ 20,000,000.0
Line of credit facility, termination date	Aug. 06, 2020
Outstanding line of credit	$ 0
2018 Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured credit facility	$ 400,000,000
Line of credit facility maturity year	2023
Outstanding balance under applicable credit facility	$ 383,000,000.0	$ 105,500,000
Available funds under credit facility	10,000,000.0
Outstanding letters of credit	$ 1,300,000

Debt and Financing Arrangements - Summary of Unsecured Credit Facility (Detail)	Mar. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Weighted average rates	2.50%	3.18%
Minimum [Member]
Debt Instrument [Line Items]
Range of effective rates	1.61%	2.12%
Maximum [Member]
Debt Instrument [Line Items]
Range of effective rates	4.75%	5.00%

Debt and Financing Arrangements - Summary of Recognized Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Total interest expense	$ 1,119	$ 1,401
2018 Credit Facility [Member]
Debt Instrument [Line Items]
Total interest expense	1,101	1,382
Other Line of Credit [Member]
Debt Instrument [Line Items]
Total interest expense	1
Other [Member]
Debt Instrument [Line Items]
Total interest expense	$ 17	$ 19

Commitments and Contingencies (Letters of Credit and Guarantees) - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 1.3	$ 1.3
License bonds outstanding amount	$ 2.3	$ 2.3

Commitments and Contingencies (Legal Proceedings) - Additional Information (Detail) $ in Millions		3 Months Ended
	Sep. 16, 2016 USD ($)	Mar. 31, 2020 USD ($) 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	$ 124.0
Altoona Regional Health System [Member] \| Maximum [Member]
Commitments And Contingencies [Line Items]
Damages sought amount	$ 266.0

Financial Instruments (Available-for-sale Debt Securities) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Corporate and municipal bonds	$ 45,300	$ 58,900
Maturity dates of bonds, start date	2020-04
Maturity dates of bonds, end date	2024-11
Unrealized losses on securities	$ 400
Funds held for clients	141,984	179,502
Certificates of Deposits and Other Depository Assets [Member]
Schedule Of Available For Sale Securities [Line Items]
Funds held for clients	$ 2,000	$ 2,500

Financial Instruments - Summary of Bond Activity (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair value at beginning of period	$ 60,659	$ 56,556
Purchases	3,447	27,216
Sales	(13,768)	(1,686)
Maturities and calls	(3,350)	(22,272)
Change in bond premium	(343)	(460)
Fair market value adjustment	(797)	1,305
Fair value at end of period	$ 45,848	$ 60,659

Financial Instruments (Interest Rate Swaps) - Additional Information (Detail) - Interest Rate Swap [Member]	3 Months Ended
	Mar. 31, 2020 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 50,000,000
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%
April 2025 [Member]
Schedule Of Available For Sale Securities [Line Items]
Notional value	$ 50,000,000
Interest rate swap, fixed interest rate	0.885%

Financial Instruments - Summary of Outstanding Interest Rate Swaps (Detail) - Interest Rate Swap [Member] - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Notional Amount	$ 50,000,000
Other Current Liability [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	35,000,000
Fair Value	(178,000)
Other Non-current Liability [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	35,000,000	$ 45,000,000
Fair Value	(1,706,000)	(591,000)
Other Non-Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair Value	492,000
Notional Amount	$ 50,000,000
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair Value		66,000
Notional Amount		$ 25,000,000

Financial Instruments - Summary of Effects of Interest Rate Swaps (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivatives, Fair Value [Line Items]
Loss Recognized in AOCL, Net of Tax	$ (653)	$ (427)
Interest Rate Swap [Member] \| Interest Expense [Member]
Derivatives, Fair Value [Line Items]
Loss Recognized in AOCL, Net of Tax	(653)	(427)
(Loss) Gain Reclassified from AOCL into Expense	$ (34)	$ 139

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate and municipal bonds	$ 45,848	$ 60,659	$ 56,556
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	92,613	106,851
Corporate and municipal bonds	45,848	60,659
Deferred compensation plan liabilities	(92,613)	(106,851)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, net	(1,392)	(525)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent purchase price liabilities	$ (32,681)	$ (32,089)

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
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	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ (32,089)	$ (39,708)
Additions from business acquisitions	(4,670)	(1,806)
Settlement of contingent purchase price liabilities	3,394	3,685
Change in fair value of contingencies	875	502
Change in net present value of contingencies	(191)	(221)
Ending balance	$ (32,681)	$ (37,548)

Other Comprehensive (Loss) Income - Summary of Other Comprehensive (Loss) Income and Tax Impact (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Net unrealized (loss) gain on available-for-sale securities, net of income taxes	$ (587)	$ 510
Net unrealized loss on interest rate swaps, net of income taxes	(653)	(427)
Foreign currency translation	(12)	(2)
Total other comprehensive (loss) income	$ (1,252)	$ 81

Other Comprehensive (Loss) Income - Summary of Other Comprehensive (Loss) Income and Tax Impact (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Unrealized (loss) gain on available-for-sale securities, income tax (benefit) expense	$ (210)	$ 189
Unrealized (loss) on interest rate swaps, income tax benefit	$ (210)	$ (132)

Employee Share Plans - Additional Information (Detail) shares in Millions	3 Months Ended
	Mar. 31, 2020 shares
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%
Performance Shares [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of initial grant	200.00%
2019 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share available for future grant	3.1
Stock awards expiry	2029

Employee Share Plans - Schedule of Share-Based Compensation Awards (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Stock options	$ 421	$ 519
Restricted stock units and awards	1,171	929
Performance share units	431	34
Total stock-based compensation expense	$ 2,023	$ 1,482

Employee Share Plans - Stock Award Activity (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Options \| shares	2,412
Exercised / Vested, Number of Options \| shares	(116)
Outstanding Ending balance, Number of Options \| shares	2,296
Exercisable Ending balance, Number of Options \| shares	1,340
Outstanding Beginning balance, Weighted Average Exercise Price Per Share \| $ / shares	$ 13.58
Exercised / Vested, Weighted Average Exercise Price Per Share \| $ / shares	8.76
Outstanding Ending balance, Weighted Average Exercise Price Per Share \| $ / shares	13.82
Exercisable Ending balance, Weighted Average Exercise Price \| $ / shares	$ 11.78
Restricted Stock Units and Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Shares \| shares	577
Granted, Number of Shares \| shares	132
Exercised / Vested, Number of Shares \| shares	(85)
Outstanding Ending balance, Number of Shares \| shares	624
Outstanding Beginning balance, Weighted Average Grant-Date Fair Value \| $ / shares	$ 17.87
Granted, Weighted Average Grant-Date Fair Value \| $ / shares	25.75
Exercised / Vested, Weighted Average Grant-Date Fair Value \| $ / shares	18.62
Outstanding Ending balance, Weighted Average Grant-Date Fair Value \| $ / shares	$ 19.43

Employee Share Plans - Performance Share Units Award Activity (Detail) - Performance Shares [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding Beginning balance, Number of Shares \| shares	200
Granted, Number of Shares \| shares	132
Outstanding Ending balance, Number of Shares \| shares	332
Outstanding Beginning balance, Grant-Date Fair Value Per Unit \| $ / shares	$ 19.82
Granted, Grant-Date Fair Value Per Unit \| $ / shares	25.75
Outstanding Ending balance, Grant-Date Fair Value Per Unit \| $ / shares	$ 22.17

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
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Income from continuing operations	$ 36,862	$ 37,565
Basic
Weighted average common shares outstanding	54,571	54,287
Diluted
Stock options	993	1,311
Restricted stock units and awards	296	274
Contingent shares	85	43
Diluted weighted average common shares outstanding	55,945	55,915
Basic earnings per share from continuing operations	$ 0.68	$ 0.69
Diluted earnings per share from continuing operations	$ 0.66	$ 0.67

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Parenthetical) (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
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	33,000	642,000
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	332,000	173,000
Vested, Number of Shares	0	0

Business Combinations - Additional Information (Detail)	3 Months Ended
Business Combinations - Additional Information (Detail)	Mar. 31, 2020 USD ($) Client_List shares	Mar. 31, 2019 USD ($) Client_List shares	Dec. 31, 2019 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	$ 9,400,000
Consideration paid in common stock	900,000
Contingent consideration	4,800,000
Contingent consideration arrangements - High	6,200,000
Aggregate fair value of contingent consideration	4,700,000
Contingent consideration, current	17,514,000		$ 16,193,000
Contingent consideration, non-current	15,167,000		$ 15,896,000
Annual revenue	6,100,000
Changes in fair value of contingent consideration	(700,000)	$ (300,000)
Consideration paid in cash	$ 2,400,000	$ 2,700,000
Number of common stock issued \| shares	100,000	0
Contingent Purchase Price Liability – Current [Member]
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration, current	$ 2,000,000.0
Contingent Purchase Price Liability – Non-current [Member]
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration, non-current	$ 2,700,000
Alliance Insurance Services, Inc. [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Feb. 01, 2020
Acquired entity, name	Alliance Insurance Services, Inc.
Pension Dynamics Company, LLC [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Feb. 01, 2020
Acquired entity, name	Pension Dynamics Company, LLC
Sunshine Systems [Member]
Business Acquisition, Contingent Consideration [Line Items]
Effective date of acquisition	Feb. 01, 2020
Acquired entity, name	Sunshine Systems
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		$ 1,300,000
Contingent consideration		1,800,000
Contingent consideration arrangements - High		1,800,000
Annual revenue		2,400,000
Wenner Group, LLC [Member] \| Contingent Purchase Price Liability – Current [Member]
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration, current		600,000
Wenner Group, LLC [Member] \| Contingent Purchase Price Liability – Non-current [Member]
Business Acquisition, Contingent Consideration [Line Items]
Contingent consideration, non-current		1,200,000
Series of Business Acquisition [Member]
Business Acquisition, Contingent Consideration [Line Items]
Goodwill	$ 11,200,000	$ 2,200,000
Acquisition of Client Lists [Member] \| Benefits and Insurance Services Practice Group [Member]
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	500,000
Contingent consideration	$ 300,000
Number of client list purchased \| Client_List	2	0
Previous Client List Purchases [Member]
Business Acquisition, Contingent Consideration [Line Items]
Consideration paid in cash	$ 300,000	$ 300,000

Business Combinations - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - Business Acquisitions in 2019 and 2020 [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition [Line Items]
Cash and cash equivalents	$ 125
Accounts receivable, net	871	$ 550
Client funds	1,716
Operating lease right of use asset, net	224
Identifiable intangible assets	3,629	654
Other current assets	53	5
Operating lease liability - current	(66)
Other current liabilities	(779)	(288)
Client fund obligations	(1,716)
Operating lease liability - noncurrent	(158)
Total identifiable net assets	3,899	921
Goodwill	11,158	2,165
Aggregate purchase price	$ 15,057	$ 3,086

Divestitures - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Benefits and Insurance Services [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	$ 0.1
Financial Services [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		$ 0.5

Segment Disclosures - Additional Information (Detail)	3 Months Ended
Segment Disclosures - Additional Information (Detail)	Mar. 31, 2020 Practice_Groups
Segment Reporting [Abstract]
Number of business units of the company	3

Segment Disclosures - Summary of Disaggregation of Revenue by Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 277,455	$ 269,998
Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	188,777	185,144
Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	79,612	76,255
National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	9,066	8,599
Accounting, Tax, Advisory and Consulting [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	188,777	185,144
Accounting, Tax, Advisory and Consulting [Member] \| Financial Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	188,777	185,144
Core Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	76,472	73,538
Core Benefits and Insurance Services [Member] \| Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	76,472	73,538
Non-core Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,140	2,717
Non-core Benefits and Insurance Services [Member] \| Benefits and Insurance Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,140	2,717
Managed Networking, Hardware Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	6,575	6,424
Managed Networking, Hardware Services [Member] \| National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	6,575	6,424
National Practices Consulting [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,491	2,175
National Practices Consulting [Member] \| National Practices [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 2,491	$ 2,175

Segment Disclosures - Summary of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 277,455	$ 269,998
Operating expenses	199,827	215,496
Gross margin	77,628	54,502
Corporate general & administrative expenses	10,489	11,680
Operating income	67,139	42,822
Other (expense) income:
Interest expense	(1,119)	(1,401)
Gain on sale of operations, net	95	497
Other (expense) income, net	(15,800)	9,260
Total other (expense) income, net	(16,824)	8,356
Income from continuing operations before income tax expense	50,315	51,178
Financial Services [Member]
Segment Reporting Information [Line Items]
Revenue	188,777	185,144
Benefits and Insurance Services [Member]
Segment Reporting Information [Line Items]
Revenue	79,612	76,255
National Practices [Member]
Segment Reporting Information [Line Items]
Revenue	9,066	8,599
Operating Segments [Member] \| Financial Services [Member]
Segment Reporting Information [Line Items]
Revenue	188,777	185,144
Operating expenses	138,598	134,458
Gross margin	50,179	50,686
Operating income	50,179	50,686
Other (expense) income:
Gain on sale of operations, net	40	497
Other (expense) income, net	19	(136)
Total other (expense) income, net	59	361
Income from continuing operations before income tax expense	50,238	51,047
Operating Segments [Member] \| Benefits and Insurance Services [Member]
Segment Reporting Information [Line Items]
Revenue	79,612	76,255
Operating expenses	65,223	61,371
Gross margin	14,389	14,884
Operating income	14,389	14,884
Other (expense) income:
Interest expense	(11)	(10)
Gain on sale of operations, net	55
Other (expense) income, net	96	21
Total other (expense) income, net	140	11
Income from continuing operations before income tax expense	14,529	14,895
Operating Segments [Member] \| National Practices [Member]
Segment Reporting Information [Line Items]
Revenue	9,066	8,599
Operating expenses	8,283	8,000
Gross margin	783	599
Operating income	783	599
Other (expense) income:
Other (expense) income, net	1
Total other (expense) income, net	1
Income from continuing operations before income tax expense	784	599
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating expenses	(12,277)	11,667
Gross margin	12,277	(11,667)
Corporate general & administrative expenses	10,489	11,680
Operating income	1,788	(23,347)
Other (expense) income:
Interest expense	(1,108)	(1,391)
Other (expense) income, net	(15,916)	9,375
Total other (expense) income, net	(17,024)	7,984
Income from continuing operations before income tax expense	$ (15,236)	$ (15,363)

Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Detail)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	6 years 8 months 12 days	6 years 10 months 24 days
Weighted-average discount rate	3.90%	3.60%

Leases - Schedule of Components of Lease Cost and Other Lease Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 8,822	$ 9,242
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$ 9,263	$ 9,260

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee Lease Description [Line Items]
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 payments to related parties	$ 0.6	$ 0.6
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, Remaining lease term	1 year
Operating lease, renewal term	2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, Remaining lease term	11 years
Operating lease, renewal term	5 years

Leases - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 25,892
2020		$ 34,775
2021	32,878	32,371
2022	26,636	26,112
2023	24,771	24,273
2024	22,175	21,578
Thereafter	68,338	67,025
Total undiscounted lease payments	200,690	206,134
Less: imputed interest	(42,414)	(45,086)
Total lease liabilities	$ 158,276	$ 161,048