0001628280-22-003965 | 10-K | XBRL Viewer

Print Document View Excel Document

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,997	$ 4,652
Restricted cash	30,383	23,951
Accounts receivable, net	242,168	216,175
Other current assets	19,217	24,213
Current assets before funds held for clients	293,765	268,991
Funds held for clients	157,909	167,440
Total current assets	451,674	436,431
Non-current assets:
Property and equipment, net	43,423	41,346
Goodwill and other intangible assets, net	840,783	756,750
Assets of deferred compensation plan	136,321	127,332
Operating lease right-of-use asset, net	151,145	147,843
Other non-current assets	4,588	4,052
Total non-current assets	1,176,260	1,077,323
Total assets	1,627,934	1,513,754
Current liabilities:
Accounts payable	65,757	64,119
Income taxes payable	1,671	2,788
Accrued personnel costs	114,032	79,978
Contingent purchase price liability	34,373	20,288
Operating lease liability	30,586	30,483
Other current liabilities	18,755	13,629
Current liabilities before client fund obligations	265,174	211,285
Client fund obligations	158,115	166,989
Total current liabilities	423,289	378,274
Non-current liabilities:
Bank debt	155,300	108,000
Debt issuance costs	(449)	(808)
Total long-term debt	154,851	107,192
Income taxes payable	1,727	1,775
Deferred income taxes, net	15,440	8,752
Deferred compensation plan obligations	136,321	127,332
Contingent purchase price liability	44,766	34,103
Operating lease liability	145,808	142,020
Other non-current liabilities	1,184	11,686
Total non-current liabilities	500,097	432,860
Total liabilities	923,386	811,134
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 per share; shares authorized 250,000; shares issued 135,187 and 134,144; shares outstanding 52,038 and 54,099	1,352	1,341
Additional paid-in capital	770,117	740,970
Retained earnings	628,762	557,875
Treasury stock, 83,149 and 80,045 shares	(694,716)	(595,297)
Accumulated other comprehensive loss	(967)	(2,269)
Total stockholders’ equity	704,548	702,620
Total liabilities and stockholders’ equity	$ 1,627,934	$ 1,513,754

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	250,000,000	250,000,000
Common stock issued (in shares)	135,187,000	134,144,000
Common stock outstanding (in shares)	52,038,000	54,099,000
Treasury stock (in shares)	83,149,000	80,045,000

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Revenue	$ 1,104,925	$ 963,897	$ 948,424
Operating expenses	945,635	825,351	823,496
Gross margin	159,290	138,546	124,928
Corporate general and administrative expenses	56,150	46,066	44,406
Legal settlement, net	30,468	0	0
Operating income (loss)	72,672	92,480	80,522
Other income (expense):
Interest expense	(3,868)	(4,983)	(5,765)
Gain (loss) on sale of operations, net	5,995	(509)	417
Other income, net	18,241	16,500	17,715
Total other income, net	20,368	11,008	12,367
Income from continuing operations before income tax expense	93,040	103,488	92,889
Income tax expense	22,129	25,141	21,840
Income from continuing operations	70,911	78,347	71,049
Loss from operations of discontinued operations, net of tax	(24)	(48)	(335)
Net income	$ 70,887	$ 78,299	$ 70,714
Basic:
Continuing operations (in dollars per share)	$ 1.35	$ 1.44	$ 1.31
Discontinued operations (in dollars per share)	0	0	(0.01)
Net income (loss) (in dollars per share)	1.35	1.44	1.30
Diluted:
Continuing operations (in dollars per share)	1.32	1.42	1.27
Discontinued operations (in dollars per share)	0	(0.01)	(0.01)
Net income (loss) (in dollars per share)	$ 1.32	$ 1.41	$ 1.26
Basic weighted average common shares outstanding (in shares)	52,637	54,288	54,299
Diluted weighted average common shares outstanding (in shares)	53,723	55,359	55,895
Comprehensive income:
Net income	$ 70,887	$ 78,299	$ 70,714
Other comprehensive income:
Net unrealized (loss) gain on available-for-sale securities, net of income tax (benefit) expense of $(179), $(14) and $351	(478)	(42)	940
Net unrealized gain (loss) on interest rate swaps, net of income tax expense (benefit) of $577, $(494) and $(380)	1,799	(1,525)	(1,222)
Foreign currency translation	(19)	(22)	(17)
Total other comprehensive income (loss)	1,302	(1,589)	(299)
Total comprehensive income	$ 72,189	$ 76,710	$ 70,415

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net unrealized (loss) gain on available-for-sale securities, income tax (benefit) expense	$ (179)	$ (14)	$ 351
Net unrealized gain (loss) on interest rate swaps, income tax (benefit)	$ 577	$ (494)	$ (380)

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative-effect adjustment	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative-effect adjustment	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative-effect adjustment
Beginning balance (in shares) at Dec. 31, 2018			131,404	76,332
Beginning balance at Dec. 31, 2018	$ 593,663	$ 0	$ 1,314	$ (508,530)	$ 692,398	$ 408,963	$ (101)	$ (482)	$ 101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	70,714					70,714
Other comprehensive income (loss)	(299)							(299)
Share repurchases (in shares)				1,210
Share repurchases	(25,300)			$ (25,300)
Indirect repurchase of shares for minimum tax withholding (in shares)				95
Indirect repurchase of shares for minimum tax withholding	(1,863)			$ (1,863)
Restricted stock (in shares)			228
Restricted stock	0		$ 2		(2)
Stock options exercised (in shares)			1,210
Stock options exercised	10,608		$ 12		10,596
Share-based compensation	7,254				7,254
Business acquisitions (in shares)			214
Business acquisitions	4,461		$ 3		4,458
Ending balance (in shares) at Dec. 31, 2019			133,056	77,637
Ending balance at Dec. 31, 2019	659,238		$ 1,331	$ (535,693)	714,704	479,576		(680)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	78,299					78,299
Other comprehensive income (loss)	(1,589)							(1,589)
Share repurchases (in shares)				2,311
Share repurchases	(57,564)			$ (57,564)
Indirect repurchase of shares for minimum tax withholding (in shares)				97
Indirect repurchase of shares for minimum tax withholding	(2,040)			$ (2,040)
Restricted stock (in shares)			25
Stock options exercised (in shares)			634
Stock options exercised	6,486		$ 6		6,480
Share-based compensation	8,869				8,869
Business acquisitions (in shares)			429
Business acquisitions	10,921		$ 4		10,917
Ending balance (in shares) at Dec. 31, 2020			134,144	80,045
Ending balance at Dec. 31, 2020	702,620		$ 1,341	$ (595,297)	740,970	557,875		(2,269)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	70,887					70,887
Other comprehensive income (loss)	1,302							1,302
Share repurchases (in shares)				3,012
Share repurchases	(96,382)			$ (96,382)
Indirect repurchase of shares for minimum tax withholding (in shares)				92
Indirect repurchase of shares for minimum tax withholding	(3,037)			$ (3,037)
Restricted stock (in shares)			80
Restricted stock	$ 0		$ 1		(1)
Stock options exercised (in shares)	647		647
Stock options exercised	$ 7,311		$ 7		7,304
Share-based compensation	11,407				11,407
Business acquisitions (in shares)			316
Business acquisitions	10,440		$ 3		10,437
Ending balance (in shares) at Dec. 31, 2021			135,187	83,149
Ending balance at Dec. 31, 2021	$ 704,548		$ 1,352	$ (694,716)	$ 770,117	$ 628,762		$ (967)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 70,887	$ 78,299	$ 70,714
Adjustments to reconcile net income to net cash provided by operating activities:
Loss (gain) on sale of operations, net of tax	(5,995)	509	(417)
Depreciation and amortization expense	27,078	23,139	22,345
Bad debt expense, net of recoveries	3,054	4,409	2,415
Adjustment to contingent earnout liability, net	2,367	(629)	1,599
Deferred income taxes	9,234	(770)	9,695
Stock-based compensation expense	11,407	8,869	7,254
Other, net	(126)	485	1,077
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	(17,040)	6,714	(15,529)
Other assets	3,474	1,472	907
Accounts payable	3,312	(8,800)	9,829
Income taxes payable	(4,108)	(236)	(5,460)
Accrued personnel costs	24,525	19,788	(4,093)
Other liabilities	3,109	13,667	(1,813)
Net cash provided by continuing operations	131,178	146,916	98,523
Operating cash flows used in discontinued operations	(24)	(71)	(338)
Net cash provided by operating activities	131,154	146,845	98,185
Cash flows from investing activities:
Business acquisitions and purchases of client lists, net of cash acquired	(66,734)	(71,430)	(11,744)
Purchases of client fund investments	(26,980)	(3,447)	(27,216)
Proceeds from the sales and maturities of client fund investments	14,877	37,487	23,958
Proceeds from sales of divested operations	9,710	711	3
Additions to property and equipment	(8,984)	(11,576)	(13,873)
Other, net	(3,899)	1,849	1,187
Net cash used in investing activities	(82,010)	(46,406)	(27,685)
Cash flows from financing activities:
Proceeds from bank debt	852,100	592,354	648,648
Payment of bank debt	(804,800)	(589,854)	(678,648)
Payment for acquisition of treasury stock	(100,487)	(58,536)	(27,163)
Changes in client funds obligations	(8,874)	(13,747)	10,069
Payment of contingent consideration of acquisitions	(14,084)	(12,859)	(17,457)
Proceeds from exercise of stock options	7,311	6,486	10,608
Other, net	(171)	(453)	(606)
Net cash used in financing activities	(69,005)	(76,609)	(54,549)
Net increase (decrease) in cash, cash equivalents and restricted cash	(19,861)	23,830	15,951
Cash, cash equivalents and restricted cash at beginning of year	170,335	146,505	130,554
Cash, cash equivalents and restricted cash at end of year	150,474	170,335	146,505
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets
Cash and cash equivalents	1,997	4,652	567
Restricted cash	30,383	23,951	29,595
Cash equivalents included in funds held for clients	118,094	141,732	116,343
Cash, cash equivalents and restricted cash at end of year	150,474	170,335	146,505
Supplemental disclosures of cash flow information:
Cash paid for interest	3,350	4,739	5,556
Cash paid for income taxes, net of income tax refunds	$ 16,998	$ 25,939	$ 17,497

Basis of Presentation and Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Significant Accounting Policies

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Selected Terms Used in Notes to 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.

ROU- Right of Use.

SEC - United States Securities & Exchange Commission.

Organization - 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, governmental 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 19, Segment Disclosures, to the accompanying consolidated financial statements.

Basis of Presentation - The accompanying consolidated financial statements reflect the operations of CBIZ, Inc. and all of its wholly-owned subsidiaries (“CBIZ,” the “Company,” “we,” “us” or “our”), after elimination of all intercompany accounts and transactions. We have prepared the accompanying consolidated financial statements in accordance with GAAP and pursuant to the rules and regulations of the SEC.

We have determined that our relationship with certain CPA firms with whom we maintain ASAs qualify as variable interest entities. The accompanying consolidated financial statements do not reflect the operations or accounts of variable interest entities as the impact is not material to our consolidated financial condition, results of operations or cash flows.

Fees earned by us under the ASAs are recorded at net realizable value as a component of “Revenue” in the accompanying Consolidated Statements of Comprehensive Income and were approximately $174.8 million, $159.4 million and $157.6 million for the years ended December 31, 2021, 2020 and 2019, respectively, the majority of which was related to services rendered to privately-held clients. In the event that accounts receivable and unbilled work in process become uncollectible by the CPA firms, the service fee due to us is typically reduced on a proportional basis. Although the ASAs do not constitute control, we are one of the beneficiaries of the agreements and may bear certain economic risks. Refer to Note 17, Related Parties, for further discussion regarding the ASAs.

Significant Accounting Policies - We consider the following policies to be beneficial in understanding the judgments that are involved in the preparation of our consolidated financial statements and the uncertainties that could impact our financial condition, results of operations and cash flows.

amounts reported in the consolidated financial statements and accompanying notes. Management’s estimates and assumptions are derived from and are continually evaluated based upon available information, judgment and experience. Actual results may differ materially from these estimates.

Revenue Recognition - We account for revenue in accordance with Topic 606, Revenue from Contracts with Customers. We recognize revenue based on the five-step model; (i) identify the contract with the customer; (ii) identify the performance obligation in the contract; (iii) determine the contract price; (iv) allocate the transaction price; and (v) recognize revenue as each performance obligation is satisfied. If we determine that a contract with enforceable rights and obligations does not exist, revenues are deferred until all criteria for an enforceable contract are met. For further information on our various streams of revenue, refer to Note 2, Revenue, to the accompanying consolidated financial statements.

Operating Expenses - Operating expenses represent costs of service and other costs incurred to operate our business units and are primarily comprised of personnel costs and occupancy related expenses. Personnel costs include (i) salaries and benefits; (ii) commissions paid to producers; (iii) incentive compensation; and (iv) share-based compensation. Incentive compensation costs and share-based compensation are estimated and accrued. The final determination of incentive compensation is made after year-end results are finalized. The largest components of occupancy costs are rent expense and utilities. Base rent expense is recognized over respective lease terms, while utilities and common area maintenance charges are recognized as incurred.

Share-Based Compensation - The measurement of all share-based compensation arrangements is based on their respective grant date fair value. The grant date fair value of stock options is based on the Black-Scholes-Merton pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate and the expected dividend yield. The grant date fair value of restricted stock awards and restricted stock units is based on the closing price of the underlying stock on the date of issuance. The grant date fair value of the performance share units is based on the closing price of the underlying stock on the date of issuance and recorded based on achievement of target performance metrics. The expense related to stock options, restricted stock awards, and restricted stock units is recognized over the requisite service period which is generally three to four years. The expense related to performance share units is recorded over the three-year performance period based on the fair value on the grant date and adjusted each reporting period for the achievement of the performance metrics, based on our best estimate using available information.

Share-based compensation expense is recorded in the accompanying Consolidated Statements of Comprehensive Income as “Operating expenses” or “Corporate general and administrative expenses,” depending on where the respective individual’s compensation is recorded. For additional discussion regarding share-based awards, refer to Note 14, Employee Share Plans, to the accompanying consolidated financial statements.

Operating 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. Certain of these leases include options to extend the lease and some include options to terminate the lease early. Effective January 1, 2019, we adopted the New Lease Standard using the modified retrospective method of applying the new standard at the adoption date. Under the New Lease Standard, all of our leases are classified as operating leases and the majority of which are for office space and facilities. The ROU assets and lease liabilities are recognized as of the commencement date based on the present value of the lease payments over the lease term. The lease term may include the options to extend or terminate the lease when it is reasonably certain that we will exercise the applicable option. Related rent expense under such leases is recognized evenly throughout the term of the lease when the total lease commitment is a known amount, and recorded on an as incurred basis when future rent payment increases under the obligation are unknown due to rent escalations being tied to factors that are not currently measurable (such as increases in the consumer price index). Differences between rent expense recognized and the cash payments required under these leases are recorded as a component of “Operating lease liability” in the Non-current liabilities section of the accompanying Consolidated Balance Sheets. We may receive incentives to lease office facilities in certain areas. Such incentives are recorded as a change in lease payments and may require us to remeasure the lease liability to reflect the change in lease payments.

Cash and Cash Equivalents - Cash and cash equivalents consist of cash on hand and investments with an original maturity of three months or less when purchased.

Restricted Cash - Restricted cash consists of funds held by us in relation to our capital and investment advisory services as those funds are restricted in accordance with applicable Financial Industry Regulatory Authority regulations. Restricted cash also consists of funds on deposit from clients in connection with the pass-through of insurance premiums to the carrier with the related liability for these funds recorded in “Accounts payable” in the accompanying Consolidated Balance Sheets.

Accounts Receivable and Allowance for Doubtful Accounts - Accounts receivable, less allowances for doubtful accounts, reflects the net realizable value of receivables and approximates fair value. Unbilled revenues are recorded at estimated net realizable value. Assessing the collectability of receivables (billed and unbilled) requires management judgment based on a combination of factors. When evaluating the adequacy of the allowance for doubtful accounts and the overall probability of collecting on receivables, we analyze historical experience, client credit-worthiness, the age of the trade receivable balances, current economic conditions that may affect a client’s ability to pay and current and projected economic trends and conditions at the balance sheet date. At December 31, 2021 and 2020, the allowance for doubtful accounts was $16.2 million and $14.9 million, respectively, in the accompanying Consolidated Balance Sheets.

Funds Held for Clients and Client Fund Obligations - Services provided by our payroll operations include the preparation of payroll checks, federal, state, and local payroll tax returns, and flexible spending account administration. In relation to these services, as well as other similar service offerings, we collect funds from our clients’ accounts in advance of paying client obligations. These funds, collected before they are due, 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 U.S. 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 underlying obligation is recorded as “Client fund obligation” on the Consolidated Balance Sheets. The balances in these accounts fluctuate with the timing of cash receipts and the related cash payments and may vary significantly during the year based on the timing of client’s payroll periods. Other than certain federal and state regulations pertaining to flexible spending account administration, there are no regulatory or other contractual restrictions placed on these funds. Refer to Note 6, Financial Instruments, to the accompanying consolidated financial statements for further discussion of investments related to funds held for clients.

Property and Equipment - Property and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation and amortization are provided on a straight-line basis over the following estimated useful lives:


Buildings	25	to	40 years
Furniture and fixtures	5	to	10 years
Capitalized software	2	to	7 years
Equipment	3	to	7 years

Leasehold improvements are amortized using the straight-line method over the shorter of their estimated useful lives or the remaining respective lease term. The cost of software purchased or developed for internal use is capitalized and amortized using the straight-line method over an estimated useful life not to exceed seven years. We periodically review long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying value of the assets may not be recoverable. Under those circumstances, if the fair value were less than the carrying amount of the asset, we would recognize a loss for the difference.

Goodwill and Other Intangible Assets - Goodwill represents the excess of the purchase price of the acquired businesses and the related fair value of the net assets acquired. At December 31, 2021, the carrying value of goodwill totaled $740.7 million, compared to total assets of $1.6 billion and total shareholders’ equity of $704.5 million. Intangible assets consist of identifiable intangibles other than goodwill. Identifiable intangible assets other than goodwill include client lists and non-compete agreements which require significant judgments in determining the fair value. We carry client lists and non-compete agreements at cost, less accumulated amortization, in the accompanying Consolidated Balance Sheets.

Goodwill is reviewed for impairment annually during the fourth quarter or more frequently in the event of an impairment indicator. We are required to consider whether it is more likely than not (defined as a likelihood of more than 50%) that the fair value of each reporting unit has fallen below its carrying value, thus requiring us to perform an interim goodwill impairment test. Intangible assets with definite lives, such as client lists and non-compete agreements, are amortized using the straight-line method over their estimated useful lives (generally ranging from three to fifteen years). We review these assets for impairment whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. Recoverability is assessed based on a comparison of the undiscounted cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value determined by a discounted cash flow analysis or market comparable method.

The goodwill impairment test is performed at a reporting unit level. A reporting unit is an operating segment of a business or one level below an operating segment. At December 31, 2021, we had five reporting units. We may use either a qualitative or quantitative approach when testing a reporting unit’s goodwill for impairment. Under the qualitative assessment, we are not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that its fair value is less than its carrying amount. If under the quantitative assessment the fair value of a reporting unit is less than its carrying amount, then the amount of the impairment loss, if any, must be measured. Any such impairment charge would reduce earnings and could be material.

After considering changes to assumptions used in our most recent quantitative testing for each reporting unit, including the capital market environment, economic and market conditions, industry competition and trends, our weighted average cost of capital, changes in management and key personnel, the price of our common stock, changes in our results of operations, the magnitude of the excess of fair value over the carrying amount of each reporting unit as determined in our most recent quantitative testing, and other factors, we concluded that it was more likely than not that the fair values of each of our reporting units exceeded their respective carrying values and, therefore, did not perform a quantitative impairment analysis. For further information regarding our goodwill balances, refer to Note 5, Goodwill and Other Intangible Assets, net, to the accompanying consolidated financial statements.

Income Taxes - Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently payable and deferred taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and operating losses and tax credit carryforwards. State income tax credits are accounted for using the flow-through method.

A valuation allowance is provided when it is more-likely-than-not that all or some portion of a deferred tax asset will not be realized. We determine valuation allowances based on all available evidence. Such evidence includes historical results, the reversal of deferred tax liabilities, expectations of future consolidated and/or separate company profitability and the feasibility of tax-planning strategies. Determining valuation allowances includes significant judgment by management, and different judgments could yield different results.

Accounting for uncertain tax positions requires a more-likely-than-not threshold for recognition in the consolidated financial statements. We recognize a tax benefit based on whether it is more-likely-than-not that a tax position will be sustained. We record a liability to the extent that a tax position taken or expected to be taken on a tax return exceeds the amount recognized in the consolidated financial statements.

Business Combinations - We recognize and measure identifiable tangible and intangible assets acquired and liabilities assumed as of the acquisition date at fair value. Fair value measurements require extensive use of estimates and assumptions, including estimates of future cash flows to be generated by the acquired assets. The operating results of acquired businesses are included in our consolidated financial statements beginning on the date of acquisition. The purchase price is equivalent to the fair value of consideration transferred. Goodwill is recognized for the excess of purchase price over the net fair value of assets acquired and liabilities assumed.

liabilities using a probability-weighted discounted cash flow model. 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, which is considered a Level 3 unobservable input, is reassessed on a quarterly basis 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, including the revaluation of common stock, is recorded in the earnings of that period. For the years ended December 31, 2021, 2020 and 2019, we recorded other income (expense) of ($2.4) million, $0.6 million and $(1.6) million, respectively, related to net changes in the fair value of contingent consideration.

Refer to Note 7, Fair Value Measurements, and Note 18, Business Combinations, for further discussion of our contingent purchase price liabilities and acquisitions.

Interest Rate Derivative Instruments - We maintain interest rate swaps that are designated as cash flow hedges to manage the market risk from changes in interest rates on our floating-rate debt under our $400.0 million unsecured credit facility, by and among CBIZ Operations, Inc., CBIZ, Inc. and Bank of America, N.A., as administrative agent and bank, and other participating banks (the “2018 credit facility”). The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determine how we reflect the change in fair value of the derivative instrument. A derivative qualifies for hedge accounting treatment if, at inception, it meets defined correlation and effectiveness criteria. These criteria require that the anticipated cash flows and/or changes in fair value of the hedging instrument substantially offset those of the position being hedged.

We utilize derivative instruments to manage interest rate risk associated with our floating-rate debt under the credit facility. Interest rate swap contracts mitigate the risk associated with the underlying hedged item. If the contract is designated as a cash flow hedge, the mark-to-market gains or losses on the swap are deferred and included as a component of accumulated other comprehensive loss, net of tax, to the extent effective, and reclassified to interest expense in the same period during which the hedged transaction affects earnings. For further discussion regarding derivative financial instruments, refer to Note 6, Financial Instruments, to the accompanying consolidated financial statements.

Recent Accounting Pronouncements - The FASB ASC is the sole source of authoritative GAAP other than the SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an ASU to communicate changes to the FASB codification. We assess and review the impact of all ASUs. ASUs 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 Issued But Not Yet Adopted

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. The amendments in this ASU are effective for all entities through December 31, 2022. We are currently evaluating the effect of this new standard on our consolidated financial statements and have not adopted any of the transition relief available under the new guidance as of December 31, 2021.

Subsequently, in January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope, which provides optional temporary guidance for entities transitioning away from the LIBOR and other interbank offered rates to new reference rates so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions within Topic 848. This ASU clarifies that the derivative instruments affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions provided in Topic 848. ASU 2021-01 is effective immediately for all entities. Entities may elect to apply the amendments on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final update, up to the date that financial statements are available to be issued. The amendments provided in this ASU do not apply to contract modifications made, as well as new hedging relationships entered into, after December 31, 2022, and to existing hedging relationships evaluated for

effectiveness for periods after December 31, 2022, except for certain hedging relationships existing as of December 31, 2022, that apply certain optional expedients in which the accounting effects are recorded through the end of the hedging relationship. We are currently evaluating the effect of this new standard on our consolidated financial statements and have not adopted any of the transition relief available under the new guidance as of December 31, 2021.

Revenue

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

The following tables disaggregate our revenue by source (in thousands):


	For the Year Ended December 31, 2021
	Financial Services		Benefits and Insurance Services		National Practices		Consolidated
Accounting, tax, advisory and consulting	$	734,026	$	—	$	—	$	734,026
Core Benefits and Insurance Services	—		319,684		—		319,684
Non-core Benefits and Insurance Services	—		12,639		—		12,639
Managed networking, hardware services	—		—		28,456		28,456
National Practices consulting	—		—		10,120		10,120
Total revenue	$	734,026	$	332,323	$	38,576	$	1,104,925


	For the Year Ended December 31, 2020
	Financial Services		Benefits and Insurance Services		National Practices		Consolidated
Accounting, tax, advisory and consulting	$	629,778	$	—	$	—	$	629,778
Core Benefits and Insurance Services	—		286,361		—		286,361
Non-core Benefits and Insurance Services	—		11,397		—		11,397
Managed networking, hardware services	—		—		26,458		26,458
National Practices consulting	—		—		9,903		9,903
Total revenue	$	629,778	$	297,758	$	36,361	$	963,897


	For the Year Ended December 31, 2019
	Financial Services		Benefits and Insurance Services		National Practices		Consolidated
Accounting, tax, advisory and consulting	$	616,567	$	—	$	—	$	616,567
Core Benefits and Insurance Services	—		283,783		—		283,783
Non-core Benefits and Insurance Services	—		12,445		—		12,445
Managed networking, hardware services	—		—		25,982		25,982
National Practices consulting	—		—		9,647		9,647
Total revenue	$	616,567	$	296,228	$	35,629	$	948,424

Financial Services

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

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

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

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

Benefits and Insurance Services

Benefits and Insurance Services provides brokerage and consulting along lines of service which include group health benefits consulting and brokerage, property and casualty brokerage, retirement plan advisory, payroll, human capital management, actuarial, life insurance and other related services. Revenue consists primarily of fee income for administering health and retirement plans and brokerage commissions. Revenue also includes investment income related to client payroll funds that are held in CBIZ accounts, as is industry practice. We pay commissions monthly and require the recipient of the commission to be employed by us at the time of the payment. Failure to remain employed at the date the commission is payable results in the forfeiture of commissions that would otherwise be due. Therefore, we have determined that the requirement of continued employment is substantive and accordingly, do not consider the commissions to be incremental costs of obtaining the customer contract and consequently a contract acquisition cost is not recognized for those commissions.

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

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

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

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

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

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

Revenue related to retirement plan services consist of advisory, third party administration and actuarial services.

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

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

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

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

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

National Practices

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

National Practices consulting revenue is based upon a fixed fee, an hourly rate, or outcome-based. Revenue for fixed fee and time and expense arrangements is recognized over the performance period based upon actual hours incurred, while revenue for outcome-based arrangements is recognized similar to the outcome-based arrangements in the Financial Services practice group.

Transaction Price Allocated to Future Obligations - The revenue recognition standard requires the disclosure of the aggregate amount of transaction price allocated to performance obligations that have not yet been satisfied as of the reporting date. The guidance provides certain practical expedients that limit this requirement, including performance obligations that are part of a contract that is one year or less. Since the majority of our contracts are one year or less, we have applied this practical expedient related to quantifying remaining performance obligations. In regards to contracts with terms in excess of one year, certain contract periods related to our government healthcare consulting, group health and benefits consulting, and property and casualty insurance businesses have an original specified contract duration in excess of one year, however, the agreements provide CBIZ and the client with the right to cancel or terminate the contract with no substantial penalty. We have applied the provisions of Topic 606 and the FASB Transition Resource Group memo number 10-14, and note that the definition of contract duration does not extend beyond the goods and services already transferred for contracts that provide both the Company and the client with the right to cancel or terminate the contract with no substantial penalty.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Accounts Receivable, Net

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Accounts Receivable, Net

ACCOUNTS RECEIVABLE, NET

Accounts receivable, net balances at December 31, 2021 and 2020 were as follows (in thousands):


	2021		2020
Trade accounts receivable	$	190,710	$	167,575
Unbilled revenue, at net realizable value	67,616		63,494
Total accounts receivable	258,326		231,069
Allowance for doubtful accounts	(16,158)		(14,894)
Accounts receivable, net	$	242,168	$	216,175

Changes in the allowance for doubtful accounts on accounts receivable are as follows (in thousands):


	2021		2020		2019
Balance at beginning of period	$	(14,894)	$	(14,379)	$	(13,389)
Provision	(9,422)		(9,323)		(8,433)
Charge-offs, net of recoveries	8,158		8,808		7,443
Balance at end of period	$	(16,158)	$	(14,894)	$	(14,379)

Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET

Property and equipment, net at December 31, 2021 and 2020 consisted of the following (in thousands):


	2021		2020
Buildings and leasehold improvements	$	41,894	$	37,022
Furniture and fixtures	29,588		28,006
Capitalized software	34,474		34,503
Equipment	27,206		23,467
Total property and equipment	133,162		122,998
Accumulated depreciation	(89,739)		(81,652)
Property and equipment, net	$	43,423	$	41,346

Depreciation expense for property and equipment was $10.8 million, $9.6 million and $8.3 million in 2021, 2020 and 2019, respectively.

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NETA summary of changes in the carrying amount of goodwill by operating segment for the years ended December 31, 2021 and 2020 were as follows (in thousands):


	Financial Services		Benefits and Insurance Services		National Practices		Total Goodwill
Gross	$	378,294	$	260,033	$	33,873	$	672,200
Accumulated impairment	$	(44,047)	$	(7,733)	$	(32,207)	$	(83,987)
Net at December 31, 2019	$	334,247	$	252,300	$	1,666	$	588,213
Additions	34,785		62,654		—		97,439
Divestitures and other adjustment	(993)		(1,576)		—		(2,569)
Gross	412,086		321,111		33,873		767,070
Accumulated impairment	(44,047)		(7,733)		(32,207)		(83,987)
Net at December 31, 2020	$	368,039	$	313,378	$	1,666	$	683,083
Additions	58,646		1,800		—		60,446
Divestitures and other adjustment	—		(2,786)		—		(2,786)
Gross	470,732		320,125		33,873		824,730
Accumulated impairment	(44,047)		(7,733)		(32,207)		(83,987)
Net at December 31,2021	$	426,685	$	312,392	$	1,666	$	740,743

We review goodwill at the reporting unit level at least annually, as of November 1, for impairment. We had five reporting units at November 1, 2021. No goodwill impairment was recognized as a result of the annual evaluation.

The components of goodwill and other intangible assets, net at December 31, 2021 and 2020 were as follows (in thousands):


	2021		2020
Goodwill	$	740,743	$	683,083
Intangibles :
Client lists	249,422		207,084
Other intangibles	11,454		11,244
Total intangibles	260,876		218,328
Total goodwill and other intangibles assets	1,001,619		901,411
Accumulated amortization:
Client lists	(152,326)		(137,284)
Other intangibles	(8,510)		(7,377)
Total accumulated amortization	(160,836)		(144,661)
Goodwill and other intangible assets, net	$	840,783	$	756,750

Amortization expense for client lists and other intangible assets was $16.3 million, $13.6 million and $14.1 million in 2021, 2020 and 2019, respectively. The weighted-average useful lives of total intangible assets, client lists and other intangible assets were 7.4 years, 7.5 years and 5.0 years, respectively. Other intangible assets are amortized over periods ranging from 3 to 15 years. Based on the amount of intangible assets subject to amortization at December 31, 2021, the estimated amortization expense is $16.7 million for 2022, $15.5 million for 2023, $13.8 million for 2024, $12.3 million for 2025 and $10.4 million for 2026.

Financial Instruments

12 Months Ended

Dec. 31, 2021

Investments, All Other Investments [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTSThe 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 are classified as Level 1 in the fair value hierarchy. 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 classified as Level 2 in the fair value hierarchy.

Concentrations of Credit Risk - Financial instruments that may subject us to concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and cash equivalents with highly-rated financial institutions, limiting the amount of credit exposure with any one financial institution. Our client base consists of large numbers of geographically diverse customers dispersed throughout the United States; thus, concentration of credit risk with respect to accounts receivable is not significant.

Available-For-Sale Debt Securities - Available-for-sale debt securities consist primarily of corporate and municipal bonds. The net par values of these securities total $37.0 million and $24.9 million at December 31, 2021 and 2020, respectively. The bonds have maturity dates or callable dates ranging from January 2022 through November 2025, and are included in “Funds held for clients — current” in the accompanying Consolidated Balance Sheets based on our intent and ability to sell these investments at any time under favorable conditions.

At December 31, 2021, unrealized losses on the securities were not material and 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 years ended December 31, 2021 and 2020 (in thousands):


	2021		2020
Fair value at January 1	$	25,708	$	60,659
Purchases	26,980		3,447
Redemptions	(6,530)		(22,078)
Maturities	(8,347)		(15,409)
Change in bond premium	1,517		(857)
Fair market value adjustment	(658)		(54)
Fair value at December 31	$	38,670	$	25,708

In addition to the available-for-sale securities discussed above, we also held other depository assets in the amount of $1.1 million at December 31, 2021. We did not have any depository items at December 31, 2020. Those depository assets are classified as Level 1 in the fair value hierarchy.

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. Under these interest rate swap contracts, we receive cash flows from counterparties at variable rates based on LIBOR and pay the counterparties a fixed rate. To mitigate counterparty credit risk, we only enter into contracts with selected major financial institutions with investment grade ratings and continually assess their creditworthiness. There are no credit risk-related contingent features in our interest rate swaps nor do the swaps contain provisions under which we would be required to post collateral. We do not purchase or hold any derivative instruments for trading or speculative purposes.

The designation of a derivative instrument as a hedge and its ability to meet the hedge accounting criteria determine how we reflect the change in fair value of the derivative instrument. A derivative qualifies for hedge accounting treatment if, at inception, it meets defined correlation and effectiveness criteria. These criteria require that the anticipated cash flows and/or changes in fair value of the hedging instrument substantially offset those of the position being hedged.

We had no fair value hedging instruments at December 31, 2021 or 2020. Our interest rate swaps are designated as cash flow hedges. Accordingly, the interest rate swaps are recorded as either an asset or liability in the accompanying Consolidated Balance Sheets at fair value. The mark-to-market gains or losses on the swaps are deferred and included as a component of accumulated other comprehensive loss (“AOCL”), net of tax, to the extent the hedge is determined to be effective, and reclassified to interest expense in the same period during which the hedged transaction affects earnings. The interest rate swaps are assessed for effectiveness and continued qualification for hedge accounting on a quarterly basis. For the years ended December 31, 2021 and 2020, the interest rate swaps were deemed to be highly effective.

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at December 31, 2021 and 2020 (in thousands). Refer to Note 7, Fair Value Measurements, to the accompanying consolidated financial statements for additional disclosures regarding fair value measurements.


	December 31, 2021
	Notional Amount		Fair Value		Balance Sheet Location
Interest rate swap	$	20,000	$	(120)	Other current liability
Interest rate swaps	$	45,000	$	(496)	Other non-current liabilities
Interest rate swap	$	50,000	$	405	Other non-current asset


	December 31, 2020
	Notional Amount		Fair Value		Balance Sheet Location
Interest rate swap	$	10,000	$	(13)	Other current liability
Interest rate swaps	$	85,000	$	(2,552)	Other non-current liabilities

During the fourth quarter of 2021, we entered into a new 5-year interest rate swap with a notional value of $30 million and fixed rate of 1.249%. One interest rate swap with a notional value of $10 million and fixed rate of 1.120% expired during the first quarter of 2021. As of December 31, 2021, we have four interest rate swaps outstanding. Under the terms of the interest rate swaps, we pay interest at a fixed rate plus applicable margin as stated in the agreements, 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 December 31, 2021 is (i) $20.0 million – 1.770% - May, 2022, (ii) $15.0 million – 2.640% - June, 2023, (iii) $50.0 million - 0.885% - April, 2025 and (iv) $30.0 million - 1.249% - December, 2026.

During the next twelve months, the amount of the December 31, 2021 AOCL balance that will be reclassified to earnings is expected to be immaterial. The following table summarizes the effects of the interest rate swap on our accompanying Consolidated Statements of Comprehensive Income for the years ended December 31, 2021 and 2020 (in thousands):


	Gain (loss) recognized in AOCL, net of tax				Loss reclassified from AOCL into expense
	Twelve Months Ended December 31,				Twelve Months Ended December 31,				Location
	2021		2020		2021		2020
Interest rate swaps	$	929	$	(1,525)	$	(1,152)	$	(974)	Interest expense

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

FASB ASC Topic 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The inputs used to measure fair value are classified into the following hierarchy:

•Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities

•Level 2 — Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability

•Level 3 — Unobservable inputs for the asset or liability

We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As circumstances change, we will reassess the level in which the inputs are included in the fair value hierarchy.

For the years ended December 31, 2021 and 2020, there were no transfers between the valuation hierarchy Levels 1, 2 and 3. The following table summarizes our assets and (liabilities) at December 31, 2021 and 2020 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	December 31, 2021	December 31, 2020
Deferred compensation plan assets	1	136,321	127,332
Available-for-sale debt securities	1	38,670	25,708
Other depository assets	1	1,144	—
Deferred compensation plan liabilities	1	(136,321)	(127,332)
Interest rate swaps, net	2	(211)	(2,565)
Contingent purchase price liabilities	3	(79,139)	(54,391)

Contingent Purchase Price Liabilities - During the years ended December 31, 2021 and 2020, we recorded expense of $2.4 million and income of $0.6 million, respectively, due to accretion, adjusting for expected results of acquired businesses and the revaluation of stock related to contingent payments. These changes are included in Other income, net in the accompanying Consolidated Statements of Comprehensive Income. Refer to Note 18, Business Combinations, for further discussion of our acquisitions and contingent purchase price liabilities.

The following table summarizes the change in fair value of our contingent purchase price liabilities identified as Level 3 for the years ended December 31, 2021 and 2020 (pre-tax basis, in thousands):


	Contingent Purchase Price Liabilities
Beginning balance — January 1, 2020	$	(32,089)
Additions from business acquisitions	(37,617)
Settlement of contingent purchase price payable	14,686
Change in fair value of contingency	1,396
Change in net present value of contingency	(767)
Balance — December 31, 2020	$	(54,391)
Additions from business acquisitions	(39,666)
Settlement of contingent purchase price payable	17,285
Change in fair value of contingency	(554)
Change in net present value of contingency	(1,813)
Balance — December 31, 2021	$	(79,139)

- 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

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

For financial reporting purposes, income from continuing operations before income taxes includes the following components (in thousands):


	2021		2020		2019
United States	$	92,847	$	103,306	$	92,710
Foreign (Canada)	193		182		179
Total	$	93,040	$	103,488	$	92,889

Income tax expense (benefit) included in the accompanying Consolidated Statements of Comprehensive Income for the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands):


	2021		2020		2019
Continuing operations:
Current:
Federal	$	12,369	$	21,926	$	12,776
Foreign	52		78		48
State and local	3,397		5,584		4,110
Total	15,818		27,588		16,934
Deferred:
Federal	5,029		(1,968)		3,685
State and local	1,282		(479)		1,221
Total	6,311		(2,447)		4,906
Total income tax expense from continuing operations	22,129		25,141		21,840
Discontinued operations:
Operations of discontinued operations:
Current	(5)		(11)		(107)
Deferred	—		—		(1)
Total income tax expense from discontinued operations	(5)		(11)		(108)
Total income tax expense	$	22,124	$	25,130	$	21,732

The provision for income taxes attributable to income from continuing operations differed from the amount obtained by applying the federal statutory income tax rate to income from continuing operations before income taxes, as follows (in thousands, except percentages):


	2021			2020			2019
Tax at U.S. federal statutory rates	$	19,538		$	21,733		$	19,507
State taxes (net of federal benefit)	4,498			5,354			4,774
Business meals and entertainment — non-deductible	190			458			987
Change in valuation allowance	435			176			932
Reserves for uncertain tax positions	(104)			(1,290)			(263)
Share-based compensation	(4,187)			(2,394)			(4,773)

Non-deductible expenses	1,408			787			713
Other, net	351			317			(37)
Provision for income taxes from continuing operations	$	22,129		$	25,141		$	21,840
Effective income tax rate	23.8		%	24.3		%	23.5		%

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020, were as follows (in thousands):


	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	1,202	$	1,249
Allowance for doubtful accounts	3,613		3,288
Employee benefits and compensation	33,549		30,151
Lease costs	5,726		6,291
State tax credit carryforwards	189		1,291
Deferral of employer FICA taxes	1,961		3,983
Other deferred tax assets	589		424
Total gross deferred tax assets	46,829		46,677
Less: valuation allowance	(2,046)		(2,663)
Total deferred tax assets, net	44,783		44,014
Deferred tax liabilities:
Client list intangible assets	250		524
Goodwill and other intangibles	57,740		49,680
Property and equipment	1,488		2,071
Other deferred tax liabilities	745		491
Total gross deferred tax liabilities	60,223		52,766
Deferred income taxes, net	$	(15,440)	$	(8,752)

We have established valuation allowances for deferred tax assets related to certain employee benefits and compensation, state net operating loss (“NOL”) carryforwards and state income tax credit carryforwards at December 31, 2021 and December 31, 2020. The net decrease in the valuation allowance of $0.6 million for the year ended December 31, 2021 primarily related to changes in the valuation allowance for NOLs and state tax credit carryforwards.

In assessing the realization of deferred tax assets, management considers all available positive and negative evidence, including projected future taxable income, scheduled reversal of deferred tax liabilities, historical financial operations and tax planning strategies. Based upon review of these items, management believes it is more-likely-than-not that the Company will realize the benefits of these deferred tax assets, net of the existing valuation allowances.

We file income tax returns in the United States, Canada, and most state jurisdictions. CBIZ's federal income tax returns for years ending prior to January 1, 2018 are no longer subject to examination. With limited exceptions, our state and local income tax returns and non-U.S. income tax returns are no longer subject to tax authority examinations for years ending prior to January 1, 2017 and January 1, 2016, respectively.

The availability of NOLs and state tax credits are reported as deferred tax assets, net of applicable valuation allowances, in the accompanying Consolidated Balance Sheets. At December 31, 2021, we had state net operating loss carryforwards of $36.4 million and a state tax credit carryforward of $0.2 million. The state net operating loss carryforwards expire on various dates between 2022 and 2041 and the state tax credit carryforward expires on various dates between 2022 and 2029.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


	2021		2020		2019
Balance at January 1	$	1,536	$	2,536	$	2,819
Additions for tax positions of the current year	161		150		145
Additions for positions of prior years	400		—		—
Settlements of prior year positions	(374)		—		(282)
Lapse of statutes of limitation	(129)		(1,150)		(146)
Balance at December 31	$	1,594	$	1,536	$	2,536

Included in the balance of unrecognized tax benefits at December 31, 2021 are $1.0 million of unrecognized tax benefits that, if recognized, would affect the effective tax rate. We believe it is reasonably possible that certain of these unrecognized tax benefits could change in the next twelve months. We expect reductions in the liability for unrecognized tax benefits of approximately $0.1 million within the next twelve months due to expiration of statutes of limitation. Given the number of years that are currently subject to examination, we are unable to estimate the range of potential adjustments to the remaining balance of unrecognized tax benefits at this time.

We recognize interest expense, and penalties related to unrecognized tax benefits as a component of income tax expense. During 2021, we recorded a decrease of $0.2 million in accrued interest, and, as of December 31, 2021, we had recognized a liability for interest expense and penalties of $0.2 million and $0.2 million, respectively, relating to unrecognized tax benefits. During 2020, we recorded an immaterial decrease in accrued interest, and, as of December 31, 2020, we had recognized a liability for interest expense and penalties of $0.4 million and $0.2 million, respectively, relating to unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Debt and Financing Arrangements

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt and Financing Arrangements

DEBT AND FINANCING ARRANGEMENTS

2018 credit facility

Our primary financing arrangement is the 2018 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 on April 3, 2023. The balance outstanding under the 2018 credit facility was $155.3 million and $108.0 million at December 31, 2021 and 2020, respectively. Effective interest rates, including the impact of interest rate swaps associated with the 2018 credit facility, were as follows:


	2021	2020
Weighted average rates	1.88%	2.45%
Range of effective rates	1.06% - 3.64%	1.10% - 4.75%

We have approximately $234.5 million of available funds under the 2018 credit facility at December 31, 2021, based on the terms of the commitment. Available funds under the credit facility are based on a multiple of earnings before interest, taxes, depreciation and amortization as defined in the credit facility, and are reduced by letters of credit, performance guarantees, other indebtedness and outstanding borrowings under the credit facility. Under the 2018 credit facility, loans are charged an interest rate consisting of a base rate or Eurodollar rate plus an applicable margin, letters of credit are charged based on the same applicable margin, and a commitment fee is charged on the unused portion of the credit facility.

The 2018 credit facility contains certain restrictive covenants customary for facilities of this type, including restrictions on indebtedness, liens or other encumbrances, making certain payments, investments, or to sell or otherwise dispose of a substantial portion of assets, or to merge or consolidate with an unaffiliated entity. The 2018 credit facility also limits our ability to make dividend payments. Historically, we have not paid cash dividends on our common stock and do not anticipate paying cash dividends in the foreseeable future. Our Board of Directors has discretion over the payment and level of dividends on common stock, subject to the limitations of the credit facility and applicable law. The credit facility contains a provision that, in the event of a defined change in control, the credit facility may be terminated. In addition, the 2018 credit facility contains financial covenants that require us to meet certain requirements with respect to (i) a total leverage ratio and (ii) minimum fixed charge coverage ratio which

may limit our ability to borrow up to the total commitment amount. As of December 31, 2021, we are in compliance with all covenants.

Other line of credit

We have an unsecured $20.0 million line of credit by and among CBIZ Benefits and Insurance, Inc., our wholly owned subsidiary, and the Huntington Bank. We utilize this line of credit 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. Refer to Note 6, Financial Instruments, for further discussion regarding these investments. The line of credit, which was renewed on August 5, 2021 and will terminate on August 4, 2022, did not have a balance outstanding at December 31, 2021 and 2020. Borrowings under the line of credit bear interest at the prime rate.

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):


	2021		2020		2019
2018 credit facility	$	3,843	$	4,919	$	5,672
Other line of credit	—		1		22
Other	25		63		71
	$	3,868	$	4,983	$	5,765

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss at December 31, 2021 and 2020 were as follows (in thousands):


	2021		2020
Net unrealized (loss) gain on available-for-sale securities, net of income tax (benefit) expense of $(51) and $128, respectively	$	(127)	$	351
Net unrealized loss on interest rate swap, net of income tax (benefit) of $(41) and $(618), respectively	(101)		(1,900)
Foreign currency translation	(739)		(720)
Accumulated other comprehensive loss	$	(967)	$	(2,269)

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Acquisitions - The purchase price that we normally pay for businesses and client lists consists of two components: an up-front non-contingent portion, and a portion which is contingent upon the acquired businesses or client lists’ future performance. The fair value of the contingent purchase price consideration is recorded at the date of acquisition and re-measured each reporting period until the liability is settled. Shares of our common stock that are issued in connection with acquisitions may be contractually restricted from sale for periods up to one year. Acquisitions are further disclosed in Note 18, Business Combinations. Indemnifications - We have various agreements in which we may be obligated to indemnify the other party with respect to certain matters. Generally, these indemnification clauses are included in contracts arising in the normal course of business under which the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations, warranties, covenants or agreements, related to matters such as title to assets sold and certain tax matters. Payment by us under such indemnification clauses are generally conditioned upon the other party making a claim. Such claims are typically subject to challenge by us and to dispute resolution procedures specified in the particular contract. Further, our obligations under these agreements may be limited in terms of time and/or amount and, in some instances, we may have recourse against third parties for certain payments made by us. It is not possible to predict the maximum potential amount of future payments under these indemnification agreements due to the conditional nature of our obligations and the unique facts of each particular agreement. Historically, we have not made any payments under these agreements that have been material individually or in the aggregate. As of December 31, 2021, we were not aware of any obligations arising under indemnification agreements that would require material payments, and therefore have not recorded a liability. Employment Agreements - We maintain severance and employment agreements with certain of our executive officers, whereby such officers may be entitled to payment in the event of termination of their employment. We also have arrangements with certain non-executive employees which may include severance and other employment provisions. We accrue for amounts payable under these contracts and arrangements as triggering events occur and obligations become known. During the years ended December 31, 2021, 2020 and 2019, payments under such contracts and arrangements were not material. Letters of Credit and Guarantees - We provide letters of credit to landlords (lessors) of our leased premises in lieu of cash security deposits, which totaled $3.4 million and $1.7 million at December 31, 2021 and 2020, respectively. 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 and $2.2 million at December 31, 2021 and 2020, respectively. Legal Proceedings - On December 19, 2016, CBIZ Operations, Inc. (“CBIZ Operations”) was named as a defendant in a lawsuit filed by Zotec Partners, LLC ("Zotec") in the Marion County Indiana Superior Court. After various amendments, the lawsuit asserts claims under Indiana law for securities, statutory and common law fraud or deception, unjust enrichment, breach of contract, and vicarious liability against CBIZ Operations and a former employee of CBIZ MMP in connection with the sale of the CBIZ MMP medical billing practice to Zotec. The plaintiff claims that CBIZ Operations had a duty to disclose the unknown fact that the former employee had a financial arrangement with a Zotec vendor at the time CBIZ Operations sold CBIZ MMP to Zotec. The plaintiff has been seeking damages of up to $177.0 million out of the $200.0 million transaction price. Trial was held in October 2021. The jury found in favor of CBIZ on all fraud, contract and other claims before it. Zotec’s remaining claim for Indiana statutory securities fraud and CBIZ’s counterclaim for breach of contract against Zotec will be addressed by the trial Judge at a later date. In addition to the item disclosed above, the Company is, from time to time, subject to claims and suits arising in the ordinary course of business. We cannot predict the outcome of all such 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 matters. On June 24, 2021, CBIZ settled the case previously brought by UPMC, d/b/a University of Pittsburgh Medical Center, and a health system it acquired in connection with actuarial services provided by the Company. Under the terms of the settlement, CBIZ paid a total settlement amount of $41.5 million and recorded a settlement loss of $30.5 million. On September 27, 2021, the Superior Court for Maricopa County, Arizona, granted CBIZ’s motion to dismiss with prejudice all of the remaining claims filed in connection with the previously disclosed lawsuits arose out of the bankruptcy of Mortgages Ltd, a mortgage lender to developers in the Phoenix, Arizona area. Therefore, all litigation related to these matters has been dismissed or settled without payment by CBIZ.

Employee Benefits	12 Months Ended
Employee Benefits	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Benefits	EMPLOYEE BENEFITSEmployee Savings Plan - We sponsor a qualified 401(k) defined contribution plan that covers substantially all of our employees. Participating employees may elect to contribute, on a tax-deferred basis, up to 80% of their pre-tax annual compensation (subject to a maximum permissible contribution under Section 401(k) of the Internal Revenue Code). Matching contributions by us are 50% of the first 6% of base compensation that the participant contributes, and additional amounts may be contributed at the discretion of the Board of Directors. Participants may elect to invest their contributions in various funds including: equity, fixed income, stable value, and balanced-lifecycle funds. Employer contributions (net of forfeitures) made to the plan during the years ended December 31, 2021, 2020 and 2019 were approximately $13.2 million, $12.2 million and $11.1 million, respectively. Non-qualified Deferred Compensation Plan - We sponsor a non-qualified deferred compensation plan, under which certain members of management and other highly compensated employees may elect to defer receipt of a portion of their annual compensation, subject to maximum and minimum percentage limitations. The amount of compensation deferred under the plan is credited to each participant’s deferral account and a non-qualified deferred compensation plan obligation is established by us. An amount equal to each participant’s compensation deferral is transferred into a rabbi trust and invested in various debt and equity securities as directed by the participants. The assets of the rabbi trust are held by us and recorded as “Assets of deferred compensation plan” in the accompanying Consolidated Balance Sheets. Assets of the non-qualified deferred compensation plan consist primarily of investments in mutual funds, money market funds and equity securities. The values of these investments are based on published market prices at the end of the period. Adjustments to the fair value of these investments are recorded in “Other income, net,” offset by the same adjustments to compensation expense (recorded as “Operating expenses” or “G&A expenses” in the accompanying Consolidated Statements of Comprehensive Income). We recorded income of $19.5 million, $15.4 million, and $19.2 million related to these investments for the year ended December 31, 2021, 2020 and 2019, respectively. These investments are specifically designated as available to us solely for the purpose of paying benefits under the non-qualified deferred compensation plan. However, the investments in the rabbi trusts would be available to all unsecured general creditors in the event that we become insolvent. Deferred compensation plan obligations represent amounts due to plan participants and consist of accumulated participant deferrals and changes in fair value of investments thereon since the inception of the plan, net of withdrawals. This liability is an unsecured general obligation of ours and is recorded as “Deferred compensation plan obligations” in the accompanying Consolidated Balance Sheets. The assets and liabilities related to the non-qualified deferred compensation plan at December 31, 2021 and 2020 were $136.3 million and $127.3 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Common Stock	12 Months Ended
Common Stock	Dec. 31, 2021
Equity [Abstract]
Common Stock	COMMON STOCK Share Repurchase Program - Our Board of Directors approved various share repurchase programs that were effective during the years ended December 31, 2021 and 2020. Under these programs, shares may be purchased in the open market or in privately negotiated transactions according to SEC rules. The Share Repurchase Program does not obligate us to acquire any specific number of shares and may be suspended at any time. Repurchased shares are held in treasury and may be reserved for future use in connection with acquisitions, employee share plans and other general purposes. Under our credit facility, described in Note 9, Debt and Financing Arrangements, share repurchases are unlimited when total leverage is less than 3.0. When leverage is greater than 3.0, the annual share repurchase is limited to $35.0 million. Under the Share Repurchase Program, we repurchased 3.0 million and 2.3 million shares on the open market at a cost (including fees and commissions) of $96.4 million and $57.6 million during the years ended December 31, 2021 and 2020, respectively. Shares repurchased to settle statutory employee withholding related to vesting of stock awards were 0.1 million shares at a cost of $3.0 million during the year ended December 31, 2021 and 0.1 million shares at a cost of $2.0 million during the year ended December 31, 2020.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Employee Stock Plans

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Employee Stock Plans

EMPLOYEE STOCK PLANSEmployee Stock Purchase Plan - The 2007 Employee Stock Purchase Plan (“ESPP”), which has a termination date of June 30, 2024, allows qualified employees to purchase shares of common stock through payroll deductions up to a limit of $25,000 of stock per calendar year. The price an employee pays for shares is 85% of the fair market value of our common stock on the last day of the purchase period. Purchase periods begin on the sixteenth day of

the month and end on the fifteenth day of the subsequent month. Other than a one-year holding period from the date of purchase, there are no vesting or other restrictions on the stock purchased by employees under the ESPP. The total number of shares of common stock that can be purchased under the ESPP shall not exceed 2.0 million shares.

Stock Awards – Effective May 9, 2019, the CBIZ shareholders approved CBIZ, Inc. 2019 Stock Omnibus Incentive Plan (“2019 Plan”), which amended and restated the CBIZ, Inc. 2014 Stock Incentive Plan (“2014 Plan”), of which we have granted various stock-based awards through the year ended December 31, 2021. Effective January 1, 2020, the 2019 Plan replaced and superseded the 2014 Plan. The operating terms of the 2019 Plan are substantially similar to those of the 2014 Plan. Under the 2019 Plan, which expires in 2029, 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. The terms and vesting schedules for the share-based awards vary by type and date of grant. At December 31, 2021, approximately 2.0 million shares were available for future grant under the 2019 Plan.

During the years ended December 31, 2021, 2020 and 2019, we recognized compensation expense (before income tax expense) for these awards as follows (in thousands):


	2021		2020		2019
Stock options	$	1,291	$	1,878	$	1,848
Restricted stock units and awards	5,603		4,960		4,375
Performance share units	4,513		2,031		1,031
Total share-based compensation expense	$	11,407	$	8,869	$	7,254

Stock Options - Certain employees and non-employee directors were granted stock options. Stock options awarded to non-employee directors have generally been granted with immediate vesting. Stock options awarded to employees are generally subject to a 25% incremental vesting schedule over a four-year period commencing from the date of grant. At the discretion of the Compensation Committee of the Board of Directors, options awarded under the 2019 Plan may vest in a time period shorter than four years. Stock options expire six years from the date of grant and are awarded with an exercise price equal to the market value of our common stock on the date of grant. Stock options may be granted alone or in addition to other awards and may be of two types: incentive stock options and non-qualified stock options. During the year ended December 31, 2021 and 2020, we granted 50 thousand and 50 thousand stock options to non-employee directors, respectively. We did not grant any stock options during the year ended December 31, 2019.

Stock option activity during the year ended December 31, 2021 was as follows (number of options in thousands):


	Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2020	1,820	$	15.02
Granted	50	$	32.64
Exercised	(647)	$	11.30

Outstanding at December 31, 2021	1,223	$	17.71	1.98 years	$	26.2
Vested and exercisable at December 31, 2021	1,075	$	17.47	1.93 years	$	23.3

•The weighted-average grant-date fair value of stock options granted during the years ended December 31, 2021 and 2020 was $0.4 million and $0.3 million, respectively.

•The aggregate intrinsic value of stock options exercised during each of the years ended December 31, 2021, 2020 and 2019 was $13.6 million, $8.9 million and $18.8 million, respectively. The intrinsic value is calculated as the difference between our stock price on the exercise date and the exercise price of each option exercised.

•At December 31, 2021, we had unrecognized compensation cost for non-vested stock options of $0.2 million to be recognized over a weighted average period of approximately 0.35 years.

We utilized the Black-Scholes-Merton option-pricing model to determine the fair value of stock options on the date of grant. The fair value of stock options granted during the years ended December 31, 2021 and 2020 were $8.10 and $5.79, respectively. The following weighted average assumptions were utilized:


	2021		2020
Expected volatility (1)	27.49	%	27.27	%
Expected option life (years) (2)	4.71		4.67
Risk-free interest rate (3)	0.74	%	0.19	%
Expected dividend yield (4)	—	%	—	%

(1)The expected volatility assumption was determined based upon the historical volatility of our stock price, using daily price intervals.

(2)The expected option life was determined based upon our historical data using a midpoint scenario, which assumes all options are exercised halfway between the expiration date and the weighted average time it takes the option to vest.

(3)The risk-free interest rate assumption was upon zero-coupon U.S. Treasury bonds with a term approximating the expected life of the respective options.

(4)The expected dividend yield assumption was determined in view of our historical and estimated dividend payouts. We do not expect to change our dividend payout policy in the foreseeable future.

Restricted Stock Units and Awards - Under the 2019 Plan, certain employees and non-employee directors were granted restricted stock units and awards. Restricted stock units and awards are independent of option grants and vest at no cost to the recipients. Restricted stock units and awards are subject to forfeiture if employment terminates prior to the release of restrictions, generally one to four years from the date of grant. Recipients of restricted stock units and awards are entitled to the same dividend and voting rights as holders of other CBIZ common stock, subject to certain restrictions during the vesting period, and these are considered to be issued and outstanding from the date of grant. Shares granted under the 2019 Plan cannot be sold, pledged, transferred or assigned during the vesting period.

Restricted stock units and awards activity during the year ended December 31, 2021 was as follows (in thousands, except per share data):


	Number of Shares	Weighted Average Grant-Date Fair Value (1)
Non-vested at December 31, 2020	461	$	21.03
Granted	174	$	28.62
Vested	(246)	$	20.00

Non-vested at December 31, 2021	389	$	25.07

(1)Represents weighted average market value of the shares as the awards are granted at no cost to the recipients.

•At December 31, 2021, we had unrecognized compensation cost for restricted stock units and awards of $5.5 million to be recognized over a weighted average period of approximately 0.72 years.

•The total fair value of shares vested during the years ended December 31, 2021, 2020 and 2019 was approximately $4.9 million, $4.6 million and $3.9 million, respectively.

•The market value of shares awarded during the years ended December 31, 2021, 2020 and 2019 was $5.0 million, $4.3 million and $4.5 million, respectively. This market value was recorded as unearned compensation and is recognized as expense ratably over the periods which the restrictions lapse.

•Awards outstanding at December 31, 2021 will be released from restrictions at dates ranging from February, 2022 through February, 2024.

Performance Share Units (“PSUs”) – PSUs are earned based on our financial performance over a contractual term of three years and the associated expense is recognized over that period based on the fair value of the award. A three-year cliff vesting schedule of the PSUs is dependent upon the Company’s performance relative to pre-established goals based on earnings per share target (weighted 70%) and total growth in revenue (weighted 30%). The fair value of PSUs is calculated using the market value of 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 twelve months ended December 31, 2021 (in thousands, except per share data):


	Performance Share Units	Weighted Average Grant-Date Fair Value Per Unit (1)
Outstanding at December 31, 2020	307	$	22.18
Granted	140	$	27.56

Adjustments for performance results (2)	26	$	19.82

Outstanding at December 31, 2021	473	$	23.64

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

(2) Represents the change in the number of performance awards earned based on performance achievement for the performance period.

Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share from continuing operations for the years ended December 31, 2021, 2020 and 2019 (in thousands, except per share data):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Income from continuing operations	$	70,911	$	78,347	$	71,049
Denominator:
Basic
Weighted average common shares outstanding	52,637		54,288		54,299
Diluted
Stock options (1)	683		802		1,288
Restricted stock awards	192		195		234
Contingent shares (2)	—		74		74
Performance share units	211		—		—
Diluted weighted average common shares outstanding (3)	53,723		55,359		55,895
Earnings Per Share:
Basic earnings per share from continuing operations	$	1.35	$	1.44	$	1.31
Diluted earnings per share from continuing operations	$	1.32	$	1.42	$	1.27

(1)For the years ended December 31, 2021, 2020 and 2019, a total of 23 thousand, 253 thousand and 482 thousand stock based awards, respectively, were excluded from the calculation of diluted earnings per share as their exercise prices would render them anti-dilutive.

(2)Contingent shares represent additional shares to be issued for purchase price earned by former owners of businesses acquired by us once future conditions have been met. For further details, refer to Note 18, Business Combinations.

(3)The denominator used in calculating diluted earnings per share did not include 0.3 million and 0.3 million performance share units for the twelve months ended December 31, 2021 and 2020, 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 years ended December 31, 2021 and 2020.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

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 December 31, 2021 and 2020 was as follows (in thousands):


	December 31, 2021		December 31, 2020
Weighted-average remaining lease term	6.4 years		6.7 years
Weighted-average discount rate	3.54	%	3.6	%

The components of lease cost and other lease information as of and during the year ended December 31, 2021 and 2020 are as follows (in thousands):


	December 31, 2021		December 31, 2020
Operating lease cost	$	35,584	$	34,781
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows for operating leases	$	38,042	$	35,426

Our leases have remaining lease terms ranging from 1 to 10 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 included in the lease term, and associated potential option payments are excluded from lease payments.

Maturities of operating lease liabilities at December 31, 2021 and minimum cash commitments under operating leases at December 31, 2020 were as follows (in thousands):


	December 31, 2021
2022	$	36,202
2023	33,490
2024	29,153
2025	27,779
2026	23,213
Thereafter	50,311
Total undiscounted lease payments	200,148
Less: imputed interest	(23,754)
Total lease liabilities	$	176,394


	December 31, 2020
2021	$	36,270
2022	30,354
2023	27,709
2024	24,401
2025	22,662
Thereafter	52,432
Total undiscounted lease payments	193,828
Less: imputed interest	(21,325)
Total lease liabilities	$	172,503

Related Parties	12 Months Ended
Related Parties	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIES The following is a summary of certain agreements and transactions between or among us and certain related parties. Management reviews these transactions as they occur and monitors them for compliance with our Code of Conduct, internal procedures and applicable legal requirements. The Audit Committee reviews and ratifies such transactions annually, or as they are more frequently brought to the attention of the Audit Committee by our Director of Internal Audit, General Counsel or other members of Management. A number of the businesses acquired by us are located in properties owned indirectly by and leased from persons employed by us, none of whom are members of our senior management. In the aggregate, we paid approximately $2.3 million, $2.2 million and $2.4 million during the years ended December 31, 2021, 2020 and 2019, respectively, under such leases. We maintain joint-referral relationships and ASAs with independent licensed CPA firms under which we provide administrative services in exchange for a fee. These firms are owned by licensed CPAs who are employed by our subsidiaries and provide audit and attest services to clients including our clients. The CPA firms with which we maintain ASAs operate as limited liability companies, limited liability partnerships or professional corporations. The firms are separate legal entities with separate governing bodies and officers. We have no ownership interest in any of these CPA firms, and neither the existence of the ASAs nor the providing of services thereunder is intended to constitute control of the CPA firms by us. CBIZ and the CPA firms maintain their own respective liability and risk of loss in connection with performance of each of its respective services, and we do not believe that our arrangements with these CPA firms result in additional risk of loss.

Business Combinations

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Business Combinations

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 year ended December 31, 2021, we completed the following acquisitions:

◦Effective January 1, 2021, we acquired substantially all the assets of Middle Market Advisory Group (“MMA”). MMA, based in Englewood, Colorado, is a provider of tax compliance and consulting services to middle market companies and family groups in the real estate, automotive, technology and SAAS, construction, and manufacturing industries. Operating results are reported in the Financial Services practice group.

◦Effective April 1, 2021, we acquired substantially all the assets of Wright Retirement Services, LLC ("Wright"). Wright, located in Valdosta, Georgia, specializes in third party administration services for retirement plan sponsors. Operating results are reported in the Benefits and Insurance practice group.

◦Effective May 1, 2021, we acquired substantially all of the non-attest assets of Bernston Porter & Company, PLLC ("BP"). BP, based in Bellevue, Washington, is a provider of comprehensive accounting and financial consulting services including tax, forensic, economic and valuation services and transaction services to a wide range of industries with specialties including construction, real estate, hospitality, manufacturing and technology. Operating results are reported in the Financial Services practice group.

◦Effective June 1, 2021, we acquired all of the issued and outstanding membership interests of Schramm Health Partners, LLC dba Optumas ("Optumas"). Optumas, based in Scottsdale, Arizona, is a provider of actuarial services to state government health care agencies to assist in the administration of Medicaid programs. Operating results are reported in the Financial Services practice group.

◦Effective September 1, 2021, we acquired all of the non-attest assets of Shea Labagh Dobberstein ("SLD"). SLD, based in San Francisco, California, is a provider of professional accounting, tax and advisory services to privately held businesses, individuals and nonprofit organizations. Operating results are reported in the Financial Services practice group.

◦Effective December 1, 2021, we acquired substantially all the assets of Kenneth Weiss & Company, P.C. dba Weiss & Company (“Weiss”). Weiss, based in San Diego, California, is a provider of tax compliance and consulting services to family groups and individuals. Operating results are reported in the Financial Services practice group.

Annualized aggregated revenue for these acquisitions is estimated to be approximately $74.4 million. Pro forma results of operations for these acquisitions are not presented because the effects of these acquisitions were not significant either individually or in aggregate to our consolidated “Income from continuing operations before income taxes.”

During the year ended December 31, 2020, we acquired substantially all of the assets of the following businesses.

•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. Alliance is included as a component of our Benefits and Insurance Services practice group.

•Effective February 1, 2020, we acquired substantially all the assets of Pension Dynamics, LLC ("PD"), a full service retirement and benefits plan advisor based in Pleasant Hill, California. PD is included as a component of our Benefits and Insurance Services practice group.

•Effective February 1, 2020, we acquired substantially all the assets of Sunshine Systems, Inc. ("Sunshine"), a payroll solutions provider based in Massachusetts. Sunshine is included as a component of our Benefits and Insurance Services practice group.

•Effective July 1, 2020, we acquired substantially all the assets of Prince-Wood Insurance, L.L.C. ("PWI"), a provider of financial insurance and advisory services based in Woodbridge, Virginia. PWI is included as a component of our Benefits and Insurance practice group.

•Effective September 1, 2020, we acquired substantially all the assets of ARC Consulting LLC and ARC Placement Group LLC (collectively "ARC"), a provider of financial, insurance and advisory services based in San Francisco, California. ARC is included as a component of our Financial Services practice group.

•Effective December 1, 2020, we acquired substantially all the assets of BeyondPay, Inc., a full service human capital management and payroll service provider based in Clinton, New Jersey. BeyondPay is included as a component of our Benefits and Insurance practice group.

•Effective December 31, 2020, we acquired substantially all the assets of Borden Perlman Insurance Agency, Inc. ("BP"), a leading provider of financial, insurance and advisory services located in Ewing, New Jersey. BP is included as a component of our Benefits and Insurance practice group.

Annualized aggregated revenue for these acquisitions is estimated to be approximately $45.2 million. Pro forma results of operations for these acquisitions are not presented because the effects of these acquisitions were not significant either individually or in aggregate to our consolidated “Income from continuing operations before income taxes.”

We anticipate completion of the purchase accounting for certain 2021 acquisitions by June 30, 2022, and, as such, provisional amounts of certain assets acquired, liabilities assumed, and purchase price are reported as of December 31, 2021. Adjustments made in 2021 related to 2020 acquisitions were immaterial.

The following table summarizes the aggregated consideration and preliminary purchase price allocation for the acquisitions completed during the year ended December 31, 2021 and 2020, respectively (in thousands):


	2021		2020
Common stock issued (number)	207		339
Common stock value	$	6,940	$	8,698
Cash paid	66,651		73,372
Other payable	—		59
Recorded contingent consideration	39,665		38,901
Total recorded purchase price	$	113,256	$	121,030
Accounts receivable acquired, net	$	9,838	$	5,381
Fixed assets acquired	1,473		—
Identifiable intangible assets acquired	42,422		20,703
Operating lease right-of-use asset acquired, net	19,153		2,746
Other assets acquired, net	848		967
Operating lease liability acquired - current	(3,020)		(793)
Other current liabilities acquired	(1,771)		(3,460)
Operating lease liability acquired - noncurrent	(16,133)		(1,953)
Goodwill	60,446		97,439
Total net assets acquired	$	113,256	$	121,030
Maximum potential contingent consideration	$	41,720	$	43,052

Provisional estimates of fair value are established at the time of each acquisition and are subsequently reviewed within the first year of operations subsequent to the acquisition date to determine the necessity for adjustments. Fair value estimates were provisional for some of the 2021 acquisitions as of December 31, 2021, primarily related to the value established for certain identifiable intangible assets and contingent purchase price consideration associated with those acquisitions.

The following table summarizes the aggregated goodwill and intangible asset amounts resulting from those acquisitions for the twelve months ended December 31, 2021 and 2020, respectively (in thousands):


	Twelve Months Ended December 31,
	2021				2020
	Financial Services		Benefits & Insurance		Financial Services		Benefits & Insurance
Goodwill	$	58,646	$	1,800	$	34,785	$	62,654
Client list	40,950		1,290		—		19,350
Other intangibles	136		46		485		868
Total	$	99,732	$	3,136	$	35,270	$	82,872

Goodwill is calculated as the difference between the aggregated purchase price and the fair value of the net assets acquired. Goodwill represents the value of expected future earnings and cash flows, as well as the synergies created by the integration of the new businesses 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. Client lists generally have an expected life of 10 years, and other intangibles, primarily non-compete agreements, have an expected life of 3 years. Client lists and non-compete agreements are valued using a discounted cash flow technique based on management estimates of future cash flows from such assets.

The following table summarizes the changes in contingent purchase price consideration for previous acquisitions and contingent payments made for previous business acquisitions during the year ended December 31, 2021 and 2020, respectively (in thousands):


	2021	2020
Net expense (income)	2,367	(629)
Cash settlement paid	13,785	12,461
Shares issued (number)	109	91

Divestitures

Divested operations and assets that do not qualify for treatment as discontinued operations are recorded as “(Loss) gain on sale of operations, net” in the accompanying Consolidated Statements of Comprehensive Income. In 2021, we sold one business for $9.7 million in the Benefit and Insurance practice group and recorded a gain of $6.3 million. In 2020, we sold a small book of business in the Benefit and Insurance practice group and two small accounting firms in the Financial Services practice group and recorded a loss of $0.5 million.

Segment Disclosures

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Disclosures

SEGMENT DISCLOSURESOur business units have been aggregated into three practice groups: (i) Financial Services, (ii) Benefits and Insurance Services and (iii) National Practices, 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 practice group is provided in the table below.

Financial Services

Benefits and Insurance Services

National Practices

Accounting and Tax

Employee Benefits Consulting

Information Technology Managed Networking and Hardware Services

Financial Advisory

Payroll / Human Capital Management

Healthcare Consulting

Valuation

Property and Casualty Insurance

Risk and Advisory Services

Retirement and Investment Services

Government 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 primarily consist of certain healthcare costs, gains or losses attributable to assets held in our non-qualified deferred compensation plan, stock-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 income (loss) from continuing operations before income tax expense (benefit) excluding those costs listed above, which are reported in the “Corporate and Other”.

We operate in the United States and Canada and revenue generated from such operations during the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
United States	$	1,103,183	$	962,272	$	946,801
Canada	1,742		1,625		1,623
Total revenue	$	1,104,925	$	963,897	$	948,424

There is no one customer that represents a significant portion of our revenue.

Segment information for the years ended December 31, 2021, 2020 and 2019 is presented below (in thousands). We do not manage our assets on a segment basis, therefore segment assets are not presented below.


	For the Year Ended December 31, 2021
	Financial Services		Benefits and Insurance Services		National Practices		Corporate and Other		Total
Revenue	$	734,026	$	332,323	$	38,576	$	—	$	1,104,925
Operating expenses	608,238		271,650		34,494		31,253		945,635
Gross margin	125,788		60,673		4,082		(31,253)		159,290
Corporate general and administrative expenses	—		—		—		56,150		56,150
Legal settlement, net	—		—		—		30,468		30,468
Operating income (loss)	125,788		60,673		4,082		(117,871)		72,672
Other income (expense):
Interest expense	—		—		—		(3,868)		(3,868)
(Loss) gain on sale of operations, net	(289)		6,284		—		—		5,995
Other income, net	263		827		3		17,148		18,241
Total other (expense) income	(26)		7,111		3		13,280		20,368
Income (loss) from continuing operations before income tax expense	$	125,762	$	67,784	$	4,085	$	(104,591)	$	93,040


	For the Year Ended December 31, 2020
	Financial Services		Benefits and Insurance Services		National Practices		Corporate and Other		Total
Revenue	$	629,778	$	297,758	$	36,361	$	—	$	963,897
Operating expenses	525,209		248,357		32,637		19,148		825,351
Gross margin	104,569		49,401		3,724		(19,148)		138,546
Corporate general and administrative expenses	—		—		—		46,066		46,066
Operating income (loss)	104,569		49,401		3,724		(65,214)		92,480
Other income (expense):
Interest expense	—		(34)		—		(4,949)		(4,983)
(Loss) gain on sale of operations, net	(612)		103		—		—		(509)
Other income, net	262		196		1		16,041		16,500
Total other (expense) income	(350)		265		1		11,092		11,008
Income (loss) from continuing operations before income tax expense	$	104,219	$	49,666	$	3,725	$	(54,122)	$	103,488


	For the Year Ended December 31, 2019
	Financial Services		Benefits and Insurance Services		National Practices		Corporate and Other		Total
Revenue	$	616,567	$	296,228	$	35,629	$	—	$	948,424
Operating expenses	515,240		246,245		32,474		29,537		823,496
Gross margin	101,327		49,983		3,155		(29,537)		124,928
Corporate general and administrative expenses	—		—		—		44,406		44,406
Operating income (loss)	101,327		49,983		3,155		(73,943)		80,522
Other income (expense):
Interest expense	—		(57)		—		(5,708)		(5,765)
Gain (loss) on sale of operations, net	578		—		—		(161)		417
Other (expense) income, net	(121)		238		1		17,597		17,715
Total other income	457		181		1		11,728		12,367
Income (loss) from continuing operations before income tax expense	$	101,784	$	50,164	$	3,156	$	(62,215)	$	92,889

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Share Repurchase Program On February 10, 2022, our Board of Directors authorized the continuation of the Share Repurchase Program, which has been renewed annually for the past seventeen years. It is effective beginning March 31, 2023, to which the amount of shares to be purchased will be reset to 5.0 million, and expires one year from the respective effective date. This authorization allows us to purchase shares of our common stock (i) in the open market, (ii) in privately negotiated transactions, or (iii) under Rule 10b5-1trading plans. Marks Paneth Acquisition Effective January 1, 2022, we acquired all of the non-attest assets of Marks Paneth LLP ("Marks Paneth"). Marks Paneth, based in New York City, is a provider of a full range of accounting, tax and consulting services to a wide range of industries. Marks Paneth is included as a component of our Financial Services practice group. Mayer Hoffman, an unrelated party, acquired the attest assets from Marks Paneth in a separate transaction. Purchase price consideration consisted of approximately $81.25 million in cash paid at closing, subject to a customary working capital adjustment, and a contingent purchase consideration, or earnout, of up to a maximum of $75.25 million which consisted of cash and shares of CBIZ common stock. The earnout is payable contingent upon Marks Paneth's future performance. The cash portion of the initial purchase price and the earnout amounts discussed above will be reduced by the purchase price paid by Mayer Hoffman for the assets related to the attestation services of Marks Paneth in a separate transaction. According to the terms of the purchase agreement, we agreed to issue up to approximately $7.52 million in CBIZ shares of common stock as part of the earnout (representing 10% of the earnout). These shares will be offered and issued to the limited number of sellers in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933. The shares of common stock to be issued pursuant to the terms of the purchase agreement may not be sold, assigned, transferred, pledged, made subject of any hedging transaction, or otherwise disposed of for a period of one year following the date of each issuance of common stock, subject to certain exceptions in the purchase agreement.

Basis of Presentation and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

Basis of Presentation

Use of Estimates

Use of Estimates - The preparation of consolidated financial statements in conformity with GAAP and pursuant to the rules and regulations of the SEC requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management’s estimates and assumptions are derived from and are continually evaluated based upon available information, judgment and experience. Actual results may differ materially from these estimates.

Revenue Recognition

Operating Expenses

Share-Based Compensation

Operating Leases

Cash and Cash Equivalents

Cash and Cash Equivalents - Cash and cash equivalents consist of cash on hand and investments with an original maturity of three months or less when purchased.

Restricted Cash

Accounts Receivable and Allowance for Doubtful Accounts

Funds Held for Clients and Client Fund Obligations

Property and Equipment


Buildings	25	to	40 years
Furniture and fixtures	5	to	10 years
Capitalized software	2	to	7 years
Equipment	3	to	7 years

Goodwill and Other Intangible Assets

Income Taxes

Business Combinations

Contingent Purchase Price Liabilities

Contingent Purchase Price Liabilities - Contingent purchase price liabilities consisting of cash payments and common stock issuances result from our business acquisitions and are recorded at fair value at the time of acquisition 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. 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, which is considered a Level 3 unobservable input, is reassessed on a quarterly basis 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, including the revaluation of common stock, is recorded in the earnings of that period.

Interest Rate Derivative Instruments

Recent Accounting Pronouncements

Accounting Standards Issued But Not Yet Adopted

Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Estimated Useful Lives Property and Equipment

Depreciation and amortization are provided on a straight-line basis over the following estimated useful lives:


Buildings	25	to	40 years
Furniture and fixtures	5	to	10 years
Capitalized software	2	to	7 years
Equipment	3	to	7 years

Revenue (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenue by Source

The following tables disaggregate our revenue by source (in thousands):


	For the Year Ended December 31, 2021
	Financial Services		Benefits and Insurance Services		National Practices		Consolidated
Accounting, tax, advisory and consulting	$	734,026	$	—	$	—	$	734,026
Core Benefits and Insurance Services	—		319,684		—		319,684
Non-core Benefits and Insurance Services	—		12,639		—		12,639
Managed networking, hardware services	—		—		28,456		28,456
National Practices consulting	—		—		10,120		10,120
Total revenue	$	734,026	$	332,323	$	38,576	$	1,104,925


	For the Year Ended December 31, 2020
	Financial Services		Benefits and Insurance Services		National Practices		Consolidated
Accounting, tax, advisory and consulting	$	629,778	$	—	$	—	$	629,778
Core Benefits and Insurance Services	—		286,361		—		286,361
Non-core Benefits and Insurance Services	—		11,397		—		11,397
Managed networking, hardware services	—		—		26,458		26,458
National Practices consulting	—		—		9,903		9,903
Total revenue	$	629,778	$	297,758	$	36,361	$	963,897


	For the Year Ended December 31, 2019
	Financial Services		Benefits and Insurance Services		National Practices		Consolidated
Accounting, tax, advisory and consulting	$	616,567	$	—	$	—	$	616,567
Core Benefits and Insurance Services	—		283,783		—		283,783
Non-core Benefits and Insurance Services	—		12,445		—		12,445
Managed networking, hardware services	—		—		25,982		25,982
National Practices consulting	—		—		9,647		9,647
Total revenue	$	616,567	$	296,228	$	35,629	$	948,424

Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net balances at December 31, 2021 and 2020 were as follows (in thousands):


	2021		2020
Trade accounts receivable	$	190,710	$	167,575
Unbilled revenue, at net realizable value	67,616		63,494
Total accounts receivable	258,326		231,069
Allowance for doubtful accounts	(16,158)		(14,894)
Accounts receivable, net	$	242,168	$	216,175

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

Changes in the allowance for doubtful accounts on accounts receivable are as follows (in thousands):


	2021		2020		2019
Balance at beginning of period	$	(14,894)	$	(14,379)	$	(13,389)
Provision	(9,422)		(9,323)		(8,433)
Charge-offs, net of recoveries	8,158		8,808		7,443
Balance at end of period	$	(16,158)	$	(14,894)	$	(14,379)

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment, Net

Property and equipment, net at December 31, 2021 and 2020 consisted of the following (in thousands):


	2021		2020
Buildings and leasehold improvements	$	41,894	$	37,022
Furniture and fixtures	29,588		28,006
Capitalized software	34,474		34,503
Equipment	27,206		23,467
Total property and equipment	133,162		122,998
Accumulated depreciation	(89,739)		(81,652)
Property and equipment, net	$	43,423	$	41,346

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill by Operating Segment

A summary of changes in the carrying amount of goodwill by operating segment for the years ended December 31, 2021 and 2020 were as follows (in thousands):


	Financial Services		Benefits and Insurance Services		National Practices		Total Goodwill
Gross	$	378,294	$	260,033	$	33,873	$	672,200
Accumulated impairment	$	(44,047)	$	(7,733)	$	(32,207)	$	(83,987)
Net at December 31, 2019	$	334,247	$	252,300	$	1,666	$	588,213
Additions	34,785		62,654		—		97,439
Divestitures and other adjustment	(993)		(1,576)		—		(2,569)
Gross	412,086		321,111		33,873		767,070
Accumulated impairment	(44,047)		(7,733)		(32,207)		(83,987)
Net at December 31, 2020	$	368,039	$	313,378	$	1,666	$	683,083
Additions	58,646		1,800		—		60,446
Divestitures and other adjustment	—		(2,786)		—		(2,786)
Gross	470,732		320,125		33,873		824,730
Accumulated impairment	(44,047)		(7,733)		(32,207)		(83,987)
Net at December 31,2021	$	426,685	$	312,392	$	1,666	$	740,743

Components of Goodwill and Other Intangible Assets, Net

The components of goodwill and other intangible assets, net at December 31, 2021 and 2020 were as follows (in thousands):


	2021		2020
Goodwill	$	740,743	$	683,083
Intangibles :
Client lists	249,422		207,084
Other intangibles	11,454		11,244
Total intangibles	260,876		218,328
Total goodwill and other intangibles assets	1,001,619		901,411
Accumulated amortization:
Client lists	(152,326)		(137,284)
Other intangibles	(8,510)		(7,377)
Total accumulated amortization	(160,836)		(144,661)
Goodwill and other intangible assets, net	$	840,783	$	756,750

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Investments, All Other Investments [Abstract]

Summary of Bond Activity

The following table summarizes our bond activity for the years ended December 31, 2021 and 2020 (in thousands):


	2021		2020
Fair value at January 1	$	25,708	$	60,659
Purchases	26,980		3,447
Redemptions	(6,530)		(22,078)
Maturities	(8,347)		(15,409)
Change in bond premium	1,517		(857)
Fair market value adjustment	(658)		(54)
Fair value at December 31	$	38,670	$	25,708

Summary of Outstanding Interest Rate Swaps


	December 31, 2021
	Notional Amount		Fair Value		Balance Sheet Location
Interest rate swap	$	20,000	$	(120)	Other current liability
Interest rate swaps	$	45,000	$	(496)	Other non-current liabilities
Interest rate swap	$	50,000	$	405	Other non-current asset


	December 31, 2020
	Notional Amount		Fair Value		Balance Sheet Location
Interest rate swap	$	10,000	$	(13)	Other current liability
Interest rate swaps	$	85,000	$	(2,552)	Other non-current liabilities

Summary of Effects of Interest Rate Swap

The following table summarizes the effects of the interest rate swap on our accompanying Consolidated Statements of Comprehensive Income for the years ended December 31, 2021 and 2020 (in thousands):


	Gain (loss) recognized in AOCL, net of tax				Loss reclassified from AOCL into expense
	Twelve Months Ended December 31,				Twelve Months Ended December 31,				Location
	2021		2020		2021		2020
Interest rate swaps	$	929	$	(1,525)	$	(1,152)	$	(974)	Interest expense

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

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

The following table summarizes our assets and (liabilities) at December 31, 2021 and 2020 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	December 31, 2021	December 31, 2020
Deferred compensation plan assets	1	136,321	127,332
Available-for-sale debt securities	1	38,670	25,708
Other depository assets	1	1,144	—
Deferred compensation plan liabilities	1	(136,321)	(127,332)
Interest rate swaps, net	2	(211)	(2,565)
Contingent purchase price liabilities	3	(79,139)	(54,391)

Change in Level 3 Fair Values of Contingent Purchase Price Liabilities


	Contingent Purchase Price Liabilities
Beginning balance — January 1, 2020	$	(32,089)
Additions from business acquisitions	(37,617)
Settlement of contingent purchase price payable	14,686
Change in fair value of contingency	1,396
Change in net present value of contingency	(767)
Balance — December 31, 2020	$	(54,391)
Additions from business acquisitions	(39,666)
Settlement of contingent purchase price payable	17,285
Change in fair value of contingency	(554)
Change in net present value of contingency	(1,813)
Balance — December 31, 2021	$	(79,139)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income from Continuing Operations Before Income Taxes

For financial reporting purposes, income from continuing operations before income taxes includes the following components (in thousands):


	2021		2020		2019
United States	$	92,847	$	103,306	$	92,710
Foreign (Canada)	193		182		179
Total	$	93,040	$	103,488	$	92,889

Income Tax Expense (Benefit) Included in Consolidated Statements of Comprehensive Income

Income tax expense (benefit) included in the accompanying Consolidated Statements of Comprehensive Income for the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands):


	2021		2020		2019
Continuing operations:
Current:
Federal	$	12,369	$	21,926	$	12,776
Foreign	52		78		48
State and local	3,397		5,584		4,110
Total	15,818		27,588		16,934
Deferred:
Federal	5,029		(1,968)		3,685
State and local	1,282		(479)		1,221
Total	6,311		(2,447)		4,906
Total income tax expense from continuing operations	22,129		25,141		21,840
Discontinued operations:
Operations of discontinued operations:
Current	(5)		(11)		(107)
Deferred	—		—		(1)
Total income tax expense from discontinued operations	(5)		(11)		(108)
Total income tax expense	$	22,124	$	25,130	$	21,732

Provision for Income Taxes Attributable to Income from Continuing Operations


	2021			2020			2019
Tax at U.S. federal statutory rates	$	19,538		$	21,733		$	19,507
State taxes (net of federal benefit)	4,498			5,354			4,774
Business meals and entertainment — non-deductible	190			458			987
Change in valuation allowance	435			176			932
Reserves for uncertain tax positions	(104)			(1,290)			(263)
Share-based compensation	(4,187)			(2,394)			(4,773)

Non-deductible expenses	1,408			787			713
Other, net	351			317			(37)
Provision for income taxes from continuing operations	$	22,129		$	25,141		$	21,840
Effective income tax rate	23.8		%	24.3		%	23.5		%

Tax Effects of Temporary Differences That Rises to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020, were as follows (in thousands):


	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	1,202	$	1,249
Allowance for doubtful accounts	3,613		3,288
Employee benefits and compensation	33,549		30,151
Lease costs	5,726		6,291
State tax credit carryforwards	189		1,291
Deferral of employer FICA taxes	1,961		3,983
Other deferred tax assets	589		424
Total gross deferred tax assets	46,829		46,677
Less: valuation allowance	(2,046)		(2,663)
Total deferred tax assets, net	44,783		44,014
Deferred tax liabilities:
Client list intangible assets	250		524
Goodwill and other intangibles	57,740		49,680
Property and equipment	1,488		2,071
Other deferred tax liabilities	745		491
Total gross deferred tax liabilities	60,223		52,766
Deferred income taxes, net	$	(15,440)	$	(8,752)

Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


	2021		2020		2019
Balance at January 1	$	1,536	$	2,536	$	2,819
Additions for tax positions of the current year	161		150		145
Additions for positions of prior years	400		—		—
Settlements of prior year positions	(374)		—		(282)
Lapse of statutes of limitation	(129)		(1,150)		(146)
Balance at December 31	$	1,594	$	1,536	$	2,536

Debt and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2021

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:


	2021	2020
Weighted average rates	1.88%	2.45%
Range of effective rates	1.06% - 3.64%	1.10% - 4.75%

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):


	2021		2020		2019
2018 credit facility	$	3,843	$	4,919	$	5,672
Other line of credit	—		1		22
Other	25		63		71
	$	3,868	$	4,983	$	5,765

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss at December 31, 2021 and 2020 were as follows (in thousands):


	2021		2020
Net unrealized (loss) gain on available-for-sale securities, net of income tax (benefit) expense of $(51) and $128, respectively	$	(127)	$	351
Net unrealized loss on interest rate swap, net of income tax (benefit) of $(41) and $(618), respectively	(101)		(1,900)
Foreign currency translation	(739)		(720)
Accumulated other comprehensive loss	$	(967)	$	(2,269)

Employee Share Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Awards (Before Income Tax Expense)

During the years ended December 31, 2021, 2020 and 2019, we recognized compensation expense (before income tax expense) for these awards as follows (in thousands):


	2021		2020		2019
Stock options	$	1,291	$	1,878	$	1,848
Restricted stock units and awards	5,603		4,960		4,375
Performance share units	4,513		2,031		1,031
Total share-based compensation expense	$	11,407	$	8,869	$	7,254

Stock Award Activity

Stock option activity during the year ended December 31, 2021 was as follows (number of options in thousands):


	Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2020	1,820	$	15.02
Granted	50	$	32.64
Exercised	(647)	$	11.30

Outstanding at December 31, 2021	1,223	$	17.71	1.98 years	$	26.2
Vested and exercisable at December 31, 2021	1,075	$	17.47	1.93 years	$	23.3

Schedule of Fair Value Option Award Weighted Average Assumptions Used

The following weighted average assumptions were utilized:


	2021		2020
Expected volatility (1)	27.49	%	27.27	%
Expected option life (years) (2)	4.71		4.67
Risk-free interest rate (3)	0.74	%	0.19	%
Expected dividend yield (4)	—	%	—	%

(1)The expected volatility assumption was determined based upon the historical volatility of our stock price, using daily price intervals.

(3)The risk-free interest rate assumption was upon zero-coupon U.S. Treasury bonds with a term approximating the expected life of the respective options.

(4)The expected dividend yield assumption was determined in view of our historical and estimated dividend payouts. We do not expect to change our dividend payout policy in the foreseeable future.

Schedule of Restricted Stock Award Activity

Restricted stock units and awards activity during the year ended December 31, 2021 was as follows (in thousands, except per share data):


	Number of Shares	Weighted Average Grant-Date Fair Value (1)
Non-vested at December 31, 2020	461	$	21.03
Granted	174	$	28.62
Vested	(246)	$	20.00

Non-vested at December 31, 2021	389	$	25.07

(1)Represents weighted average market value of the shares as the awards are granted at no cost to the recipients.

Schedule of PSU Award Activity

The following table presents our PSU award activity during the twelve months ended December 31, 2021 (in thousands, except per share data):


	Performance Share Units	Weighted Average Grant-Date Fair Value Per Unit (1)
Outstanding at December 31, 2020	307	$	22.18
Granted	140	$	27.56

Adjustments for performance results (2)	26	$	19.82

Outstanding at December 31, 2021	473	$	23.64

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

(2) Represents the change in the number of performance awards earned based on performance achievement for the performance period.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share from Continuing Operations


	Year Ended December 31,
	2021		2020		2019
Numerator:
Income from continuing operations	$	70,911	$	78,347	$	71,049
Denominator:
Basic
Weighted average common shares outstanding	52,637		54,288		54,299
Diluted
Stock options (1)	683		802		1,288
Restricted stock awards	192		195		234
Contingent shares (2)	—		74		74
Performance share units	211		—		—
Diluted weighted average common shares outstanding (3)	53,723		55,359		55,895
Earnings Per Share:
Basic earnings per share from continuing operations	$	1.35	$	1.44	$	1.31
Diluted earnings per share from continuing operations	$	1.32	$	1.42	$	1.27

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Balance Sheet Information Related to Leases

Supplemental balance sheet information related to the Company’s operating leases as of December 31, 2021 and 2020 was as follows (in thousands):


	December 31, 2021		December 31, 2020
Weighted-average remaining lease term	6.4 years		6.7 years
Weighted-average discount rate	3.54	%	3.6	%

Schedule of Lease Cost and Other Lease Information

The components of lease cost and other lease information as of and during the year ended December 31, 2021 and 2020 are as follows (in thousands):


	December 31, 2021		December 31, 2020
Operating lease cost	$	35,584	$	34,781
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows for operating leases	$	38,042	$	35,426

Schedule of Maturity of Operating Lease Liabilities

Maturities of operating lease liabilities at December 31, 2021 and minimum cash commitments under operating leases at December 31, 2020 were as follows (in thousands):


	December 31, 2021
2022	$	36,202
2023	33,490
2024	29,153
2025	27,779
2026	23,213
Thereafter	50,311
Total undiscounted lease payments	200,148
Less: imputed interest	(23,754)
Total lease liabilities	$	176,394


	December 31, 2020
2021	$	36,270
2022	30,354
2023	27,709
2024	24,401
2025	22,662
Thereafter	52,432
Total undiscounted lease payments	193,828
Less: imputed interest	(21,325)
Total lease liabilities	$	172,503

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Aggregated Consideration And Preliminary Purchase Price Allocation


	2021		2020
Common stock issued (number)	207		339
Common stock value	$	6,940	$	8,698
Cash paid	66,651		73,372
Other payable	—		59
Recorded contingent consideration	39,665		38,901
Total recorded purchase price	$	113,256	$	121,030
Accounts receivable acquired, net	$	9,838	$	5,381
Fixed assets acquired	1,473		—
Identifiable intangible assets acquired	42,422		20,703
Operating lease right-of-use asset acquired, net	19,153		2,746
Other assets acquired, net	848		967
Operating lease liability acquired - current	(3,020)		(793)
Other current liabilities acquired	(1,771)		(3,460)
Operating lease liability acquired - noncurrent	(16,133)		(1,953)
Goodwill	60,446		97,439
Total net assets acquired	$	113,256	$	121,030
Maximum potential contingent consideration	$	41,720	$	43,052

Segment Allocation


	Twelve Months Ended December 31,
	2021				2020
	Financial Services		Benefits & Insurance		Financial Services		Benefits & Insurance
Goodwill	$	58,646	$	1,800	$	34,785	$	62,654
Client list	40,950		1,290		—		19,350
Other intangibles	136		46		485		868
Total	$	99,732	$	3,136	$	35,270	$	82,872

Contingent Consideration


	2021	2020
Net expense (income)	2,367	(629)
Cash settlement paid	13,785	12,461
Shares issued (number)	109	91

Segment Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Revenue from External Customers

We operate in the United States and Canada and revenue generated from such operations during the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
United States	$	1,103,183	$	962,272	$	946,801
Canada	1,742		1,625		1,623
Total revenue	$	1,104,925	$	963,897	$	948,424

Summary of Segment Information


	For the Year Ended December 31, 2021
	Financial Services		Benefits and Insurance Services		National Practices		Corporate and Other		Total
Revenue	$	734,026	$	332,323	$	38,576	$	—	$	1,104,925
Operating expenses	608,238		271,650		34,494		31,253		945,635
Gross margin	125,788		60,673		4,082		(31,253)		159,290
Corporate general and administrative expenses	—		—		—		56,150		56,150
Legal settlement, net	—		—		—		30,468		30,468
Operating income (loss)	125,788		60,673		4,082		(117,871)		72,672
Other income (expense):
Interest expense	—		—		—		(3,868)		(3,868)
(Loss) gain on sale of operations, net	(289)		6,284		—		—		5,995
Other income, net	263		827		3		17,148		18,241
Total other (expense) income	(26)		7,111		3		13,280		20,368
Income (loss) from continuing operations before income tax expense	$	125,762	$	67,784	$	4,085	$	(104,591)	$	93,040


	For the Year Ended December 31, 2020
	Financial Services		Benefits and Insurance Services		National Practices		Corporate and Other		Total
Revenue	$	629,778	$	297,758	$	36,361	$	—	$	963,897
Operating expenses	525,209		248,357		32,637		19,148		825,351
Gross margin	104,569		49,401		3,724		(19,148)		138,546
Corporate general and administrative expenses	—		—		—		46,066		46,066
Operating income (loss)	104,569		49,401		3,724		(65,214)		92,480
Other income (expense):
Interest expense	—		(34)		—		(4,949)		(4,983)
(Loss) gain on sale of operations, net	(612)		103		—		—		(509)
Other income, net	262		196		1		16,041		16,500
Total other (expense) income	(350)		265		1		11,092		11,008
Income (loss) from continuing operations before income tax expense	$	104,219	$	49,666	$	3,725	$	(54,122)	$	103,488


	For the Year Ended December 31, 2019
	Financial Services		Benefits and Insurance Services		National Practices		Corporate and Other		Total
Revenue	$	616,567	$	296,228	$	35,629	$	—	$	948,424
Operating expenses	515,240		246,245		32,474		29,537		823,496
Gross margin	101,327		49,983		3,155		(29,537)		124,928
Corporate general and administrative expenses	—		—		—		44,406		44,406
Operating income (loss)	101,327		49,983		3,155		(73,943)		80,522
Other income (expense):
Interest expense	—		(57)		—		(5,708)		(5,765)
Gain (loss) on sale of operations, net	578		—		—		(161)		417
Other (expense) income, net	(121)		238		1		17,597		17,715
Total other income	457		181		1		11,728		12,367
Income (loss) from continuing operations before income tax expense	$	101,784	$	50,164	$	3,156	$	(62,215)	$	92,889

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) $ in Thousands		12 Months Ended
	Nov. 01, 2021 reportingUnit	Dec. 31, 2021 USD ($) practiceGroup reportingUnit	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of practice groups \| practiceGroup		3
Revenue		$ 1,104,925	$ 963,897	$ 948,424
Maximum maturity period of investments		3 months
Allowance for doubtful accounts		$ 16,158	14,894	14,379	$ 13,389
Goodwill		740,743	683,083	588,213
Assets		1,627,934	1,513,754
Total stockholders' equity		$ 704,548	702,620	659,238	$ 593,663
Intangible assets amortization period		7 years 4 months 24 days
Number of reporting units \| reportingUnit	5	5
Net changes in the fair value of contingent consideration		$ 2,367	(629)	1,599
Unsecured credit facility		400,000
Other income (expense), net
Summary Of Significant Accounting Policies [Line Items]
Net changes in the fair value of contingent consideration		$ (2,400)	600	(1,600)
Performance Shares
Summary Of Significant Accounting Policies [Line Items]
Shares vesting term		3 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Shares vesting term		3 years
Intangible assets amortization period		3 years
Minimum \| Capitalized software
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life		2 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Shares vesting term		4 years
Intangible assets amortization period		15 years
Maximum \| Capitalized software
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life		7 years
Financial service
Summary Of Significant Accounting Policies [Line Items]
Revenue		$ 174,800	$ 159,400	$ 157,600

Basis of Presentation and Significant Accounting Policies - Summary of Estimated Useful Lives Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Buildings \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	25 years
Buildings \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	40 years
Furniture and fixtures \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	5 years
Furniture and fixtures \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	10 years
Capitalized software \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	2 years
Capitalized software \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	7 years
Equipment \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	3 years
Equipment \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Property and equipment useful life	7 years

Revenue - Summary of Disaggregation of Revenue by Source (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,104,925	$ 963,897	$ 948,424
Financial Services
Disaggregation of Revenue [Line Items]
Total revenue	734,026	629,778	616,567
Benefits and Insurance Services
Disaggregation of Revenue [Line Items]
Total revenue	332,323	297,758	296,228
National Practices
Disaggregation of Revenue [Line Items]
Total revenue	38,576	36,361	35,629
Accounting, tax, advisory and consulting
Disaggregation of Revenue [Line Items]
Total revenue	734,026	629,778	616,567
Accounting, tax, advisory and consulting \| Financial Services
Disaggregation of Revenue [Line Items]
Total revenue	734,026	629,778	616,567
Core Benefits and Insurance Services
Disaggregation of Revenue [Line Items]
Total revenue	319,684	286,361	283,783
Core Benefits and Insurance Services \| Benefits and Insurance Services
Disaggregation of Revenue [Line Items]
Total revenue	319,684	286,361	283,783
Non-core Benefits and Insurance Services
Disaggregation of Revenue [Line Items]
Total revenue	12,639	11,397	12,445
Non-core Benefits and Insurance Services \| Benefits and Insurance Services
Disaggregation of Revenue [Line Items]
Total revenue	12,639	11,397	12,445
Managed networking, hardware services
Disaggregation of Revenue [Line Items]
Total revenue	28,456	26,458	25,982
Managed networking, hardware services \| National Practices
Disaggregation of Revenue [Line Items]
Total revenue	28,456	26,458	25,982
National Practices consulting
Disaggregation of Revenue [Line Items]
Total revenue	10,120	9,903	9,647
National Practices consulting \| National Practices
Disaggregation of Revenue [Line Items]
Total revenue	$ 10,120	$ 9,903	$ 9,647

Accounts Receivable, Net - Schedule of Accounts Receivables Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Trade accounts receivable	$ 190,710	$ 167,575
Unbilled revenue, at net realizable value	67,616	63,494
Total accounts receivable	258,326	231,069
Allowance for doubtful accounts	(16,158)	(14,894)	$ (14,379)	$ (13,389)
Accounts receivable, net	$ 242,168	$ 216,175

Accounts Receivable, Net - Schedule of Changes in the Allowance for Doubtful Accounts on Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ (14,894)	$ (14,379)	$ (13,389)
Provision	(9,422)	(9,323)	(8,433)
Charge-offs, net of recoveries	8,158	8,808	7,443
Balance at end of period	$ (16,158)	$ (14,894)	$ (14,379)

Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 133,162	$ 122,998
Accumulated depreciation	(89,739)	(81,652)
Property and equipment, net	43,423	41,346
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	41,894	37,022
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	29,588	28,006
Capitalized software
Property, Plant and Equipment [Line Items]
Total property and equipment	34,474	34,503
Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 27,206	$ 23,467

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense for property and equipment	$ 10.8	$ 9.6	$ 8.3

Goodwill and Other Intangible Assets, Net - Changes in Carrying Amount of Goodwill by Operating Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross	$ 824,730	$ 767,070	$ 672,200
Accumulated impairment	(83,987)	(83,987)	(83,987)
Goodwill [Roll Forward]
Beginning balance, Goodwill	683,083	588,213
Additions	60,446	97,439
Divestitures and other adjustment	(2,786)	(2,569)
Ending balance, Goodwill	740,743	683,083
Financial Services
Finite-Lived Intangible Assets [Line Items]
Gross	470,732	412,086	378,294
Accumulated impairment	(44,047)	(44,047)	(44,047)
Goodwill [Roll Forward]
Beginning balance, Goodwill	368,039	334,247
Additions	58,646	34,785
Divestitures and other adjustment	0	(993)
Ending balance, Goodwill	426,685	368,039
Benefits and Insurance Services
Finite-Lived Intangible Assets [Line Items]
Gross	320,125	321,111	260,033
Accumulated impairment	(7,733)	(7,733)	(7,733)
Goodwill [Roll Forward]
Beginning balance, Goodwill	313,378	252,300
Additions	1,800	62,654
Divestitures and other adjustment	(2,786)	(1,576)
Ending balance, Goodwill	312,392	313,378
National Practices
Finite-Lived Intangible Assets [Line Items]
Gross	33,873	33,873	33,873
Accumulated impairment	(32,207)	(32,207)	$ (32,207)
Goodwill [Roll Forward]
Beginning balance, Goodwill	1,666	1,666
Additions	0	0
Divestitures and other adjustment	0	0
Ending balance, Goodwill	$ 1,666	$ 1,666

Goodwill and Other Intangible Assets, Net - Additional Information (Details)			12 Months Ended
	Nov. 01, 2021 reportingUnit	Nov. 01, 2020 USD ($)	Dec. 31, 2021 USD ($) reportingUnit	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of reporting units \| reportingUnit	5		5
Goodwill impairment		$ 0
Intangible assets amortization period			7 years 4 months 24 days
2022			$ 16,700,000
2023			15,500,000
2024			13,800,000
2025			12,300,000
2026			$ 10,400,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			15 years
Client Lists and Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets			$ 16,300,000	$ 13,600,000	$ 14,100,000
Client lists
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			7 years 6 months
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			5 years
Other intangibles \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			3 years
Other intangibles \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period			15 years

Goodwill and Other Intangible Assets, Net - Components of Goodwill and Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 740,743	$ 683,083	$ 588,213
Intangibles :
Total intangibles	260,876	218,328
Total goodwill and other intangibles assets	1,001,619	901,411
Accumulated amortization:
Total accumulated amortization	(160,836)	(144,661)
Goodwill and other intangible assets, net	840,783	756,750
Client lists
Intangibles :
Total intangibles	249,422	207,084
Accumulated amortization:
Total accumulated amortization	(152,326)	(137,284)
Other intangibles
Intangibles :
Total intangibles	11,454	11,244
Accumulated amortization:
Total accumulated amortization	$ (8,510)	$ (7,377)

Financial Instruments - Available-For-Sale Debt Securities - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Net par value of available-for-sale debt securities	$ 37,000,000	$ 24,900,000
Funds held for clients	157,909,000	167,440,000
Certified deposits and other depository assets
Debt Securities, Available-for-sale [Line Items]
Funds held for clients	$ 1,100,000	$ 0

Financial Instruments - Summary of Bond Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available for Sale [Roll Forward]
Fair value at beginning of period	$ 25,708	$ 60,659
Purchases	26,980	3,447
Redemptions	(6,530)	(22,078)
Maturities	(8,347)	(15,409)
Change in bond premium	1,517	(857)
Fair market value adjustment	(658)	(54)
Fair value at end of period	$ 38,670	$ 25,708

Financial Instruments - Interest Rate Swaps - Additional Information (Details)	3 Months Ended
	Dec. 31, 2021 USD ($) swap	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Interest rate swaps
Debt Securities, Available-for-sale [Line Items]
Fair value hedging instruments	$ 0		$ 0
Number of interest rate swaps outstanding \| swap	4
Interest rate swap, December 2026 expiration
Debt Securities, Available-for-sale [Line Items]
Interest rate swap, term of contract	5 years
Notional amount	$ 30,000,000
Interest rate swap, fixed interest rate	1.249%
Interest rate swap, February 2021 expiration
Debt Securities, Available-for-sale [Line Items]
Notional amount		$ 10,000,000
Interest rate swap, fixed interest rate		1.12%
Interest rate swap, May 2022 expiration
Debt Securities, Available-for-sale [Line Items]
Notional amount	$ 20,000,000
Interest rate swap, fixed interest rate	1.77%
Interest rate swap, June 2023 expiration
Debt Securities, Available-for-sale [Line Items]
Notional amount	$ 15,000,000
Interest rate swap, fixed interest rate	2.64%
Interest rate swap, April 2025 expiration
Debt Securities, Available-for-sale [Line Items]
Notional amount	$ 50,000,000
Interest rate swap, fixed interest rate	0.885%

Financial Instruments - Summary of Outstanding Interest Rate Swaps (Details) - Interest rate swaps - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Other current liability
Derivatives, Fair Value [Line Items]
Notional amount, liability	$ 20,000,000	$ 10,000,000
Fair value, liability	(120,000)	(13,000)
Other non-current liabilities
Derivatives, Fair Value [Line Items]
Notional amount, liability	45,000,000	85,000,000
Fair value, liability	(496,000)	$ (2,552,000)
Other non-current asset
Derivatives, Fair Value [Line Items]
Notional amount, asset	50,000,000
Fair value, asset	$ 405,000

Financial Instruments - Summary of Effects of Interest Rate Swaps (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in AOCL, net of tax	$ 1,799	$ (1,525)	$ (1,222)
Interest rate swaps
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in AOCL, net of tax	929	(1,525)
Interest rate swaps \| Interest expense
Derivatives, Fair Value [Line Items]
Loss reclassified from AOCL into expense	$ (1,152)	$ (974)

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets of deferred compensation plan	$ 136,321	$ 127,332
Available-for-sale debt securities	38,670	25,708	$ 60,659
Deferred compensation plan liabilities	(136,321)	(127,332)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets of deferred compensation plan	136,321	127,332
Available-for-sale debt securities	38,670	25,708
Other depository assets	1,144	0
Deferred compensation plan liabilities	(136,321)	(127,332)
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps, net	(211)	(2,565)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent purchase price liabilities	$ (79,139)	$ (54,391)

Fair Value Measurements - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value measurements, inter-transfers between levels	$ 0	$ 0
Net changes in the fair value of contingent consideration	2,367,000	(629,000)	$ 1,599,000
Other income (expense), net
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Net changes in the fair value of contingent consideration	$ (2,400,000)	$ 600,000	$ (1,600,000)

Fair Value Measurements - Change in Level 3 Fair Values of Contingent Purchase Price Liabilities (Details) - Contingent Purchase Price Liabilities - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ (54,391)	$ (32,089)
Additions from business acquisitions	(39,666)	(37,617)
Settlement of contingent purchase price payable	17,285	14,686
Change in fair value of contingency	(554)	1,396
Change in net present value of contingency	(1,813)	(767)
Ending balance	$ (79,139)	$ (54,391)

Income Taxes - Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ 92,847	$ 103,306	$ 92,710
Foreign (Canada)	193	182	179
Income from continuing operations before income tax expense	$ 93,040	$ 103,488	$ 92,889

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Income Tax Expense (Benefit) Included in Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 12,369	$ 21,926	$ 12,776
Foreign	52	78	48
State and local	3,397	5,584	4,110
Total	15,818	27,588	16,934
Deferred:
Federal	5,029	(1,968)	3,685
State and local	1,282	(479)	1,221
Total	6,311	(2,447)	4,906
Total income tax expense from continuing operations	22,129	25,141	21,840
Operations of discontinued operations:
Current	(5)	(11)	(107)
Deferred	0	0	(1)
Total income tax expense from discontinued operations	(5)	(11)	(108)
Total income tax expense	$ 22,124	$ 25,130	$ 21,732

Income Taxes - Provision for Income Taxes Attributable to Income from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Tax at U.S. federal statutory rates	$ 19,538	$ 21,733	$ 19,507
State taxes (net of federal benefit)	4,498	5,354	4,774
Business meals and entertainment — non-deductible	190	458	987
Change in valuation allowance	435	176	932
Reserves for uncertain tax positions	(104)	(1,290)	(263)
Share-based compensation	(4,187)	(2,394)	(4,773)
Non-deductible expenses	1,408	787	713
Other, net	351	317	(37)
Total income tax expense from continuing operations	$ 22,129	$ 25,141	$ 21,840
Effective income tax rate	23.80%	24.30%	23.50%

Income Taxes - Tax Effects of Temporary Differences That Rises to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 1,202	$ 1,249
Allowance for doubtful accounts	3,613	3,288
Employee benefits and compensation	33,549	30,151
Lease costs	5,726	6,291
State tax credit carryforwards	189	1,291
Deferral of employer FICA taxes	1,961	3,983
Other deferred tax assets	589	424
Total gross deferred tax assets	46,829	46,677
Less: valuation allowance	(2,046)	(2,663)
Total deferred tax assets, net	44,783	44,014
Deferred tax liabilities:
Client list intangible assets	250	524
Goodwill and other intangibles	57,740	49,680
Property and equipment	1,488	2,071
Other deferred tax liabilities	745	491
Total gross deferred tax liabilities	60,223	52,766
Deferred income taxes, net	$ (15,440)	$ (8,752)

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Net decrease in valuation allowance	$ 0.6
State net operating loss carryforwards	36.4
State tax credit carryforwards	0.2
Unrecognized tax benefits that would impact effective tax rate	1.0
Reductions in the liability for unrecognized tax benefits due to expiration of statues of limitation	0.1
Accrued interest expense	0.2	$ 0.0
Liability for interest expense	0.2	0.4
Liability for penalties	$ 0.2	$ 0.2

Income Taxes - Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning Balance	$ 1,536	$ 2,536	$ 2,819
Additions for tax positions of the current year	161	150	145
Additions for positions of prior years	400	0	0
Settlements of prior year positions	(374)	0	(282)
Lapse of statutes of limitation	(129)	(1,150)	(146)
Ending Balance	$ 1,594	$ 1,536	$ 2,536

Debt and Financing Arrangements - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding balance under applicable credit facility	$ 155,300,000	$ 108,000,000
Other line of credit
Debt Instrument [Line Items]
Revolving loan commitment	20,000,000
Outstanding line of credit	0	0
2018 credit facility
Debt Instrument [Line Items]
Outstanding balance under applicable credit facility	155,300,000	$ 108,000,000
Available funds under credit facility	$ 234,500,000

- Definition

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt and Financing Arrangements - Summary of Unsecured Credit Facility (Details)	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Weighted average rates	1.88%	2.45%
Minimum
Debt Instrument [Line Items]
Range of effective rates	1.06%	1.10%
Maximum
Debt Instrument [Line Items]
Range of effective rates	3.64%	4.75%

Debt and Financing Arrangements - Summary of Recognized Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total interest expense	$ 3,868	$ 4,983	$ 5,765
2018 credit facility
Debt Instrument [Line Items]
Total interest expense	3,843	4,919	5,672
Other line of credit
Debt Instrument [Line Items]
Total interest expense	0	1	22
Other
Debt Instrument [Line Items]
Total interest expense	$ 25	$ 63	$ 71

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Net unrealized (loss) gain on available-for-sale securities, net of income tax (benefit) expense of $(51) and $128, respectively	$ (127)	$ 351
Net unrealized loss on interest rate swap, net of income tax (benefit) of $(41) and $(618), respectively	(101)	(1,900)
Foreign currency translation	(739)	(720)
Accumulated other comprehensive loss	(967)	(2,269)
Unrealized (loss) gain on available for sale securities, income tax (benefit) expense	(51)	128
Unrealized loss on interest rate swaps, income tax benefit	$ (41)	$ (618)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Commitments and Contingencies (Letters of Credit and Guarantees) - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 3.4	$ 1.7
License bonds outstanding amount	$ 2.3	$ 2.2

Commitments and Contingencies (Legal Proceedings) - Additional Information (Details) - USD ($) $ in Thousands			12 Months Ended
	Jun. 24, 2021	Dec. 19, 2016	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Loss related to legal settlement			$ 30,468	$ 0	$ 0
CBIZ Operations and former employee of CBIZ MMP
Commitments And Contingencies [Line Items]
Amount of damages sought (up to)		$ 177,000
Total transaction price		$ 200,000
University of Pittsburgh Medical Center
Commitments And Contingencies [Line Items]
Settlement amount awarded to other party	$ 41,500
Loss related to legal settlement	$ 30,500

Employee Benefits - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Maximum percentage of a participant's eligible compensation that a participating may elect to contribute, on a tax-deferred annually to the plan (as a percent)	80.00%
Percentage of matching contribution made by company, of first 6.0% of participating employees contributions (as a percent)	50.00%
Percentage of participating employees contribution, matched 100% (as a percent)	6.00%
Employer contribution	$ 13,200	$ 12,200	$ 11,100
Non-qualified deferred income of investment	19,500	15,400	$ 19,200
Non-qualified deferred compensation plan assets	136,321	127,332
Non-qualified deferred compensation plan liabilities	$ 136,321	$ 127,332

Common Stock - Additional Information (Details) shares in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)
Schedule Of Common Stock [Line Items]
Senior leverage ratio	3.0
Cost of shares repurchased to settle statutory employee withholding related to vesting of stock awards	$ 96,382,000	$ 57,564,000	$ 25,300,000
Share Repurchase Program
Schedule Of Common Stock [Line Items]
Stock repurchase program authorized to be repurchased (in shares) \| shares	3.0	2.3
Payment for acquisition of treasury stock	$ 96,400,000	$ 57,600,000
Shares repurchased to settle statutory employee withholding related to vesting of stock awards (in shares) \| shares	0.1	0.1
Cost of shares repurchased to settle statutory employee withholding related to vesting of stock awards	$ 3,000,000	$ 2,000,000
Maximum
Schedule Of Common Stock [Line Items]
Annual share repurchase limit	$ 35,000,000

Employee Stock Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 09, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price an employee pays for shares as percentage of fair market value	85.00%
Holding period of stock	1 year
Stock options granted (in shares)	50,000	50,000	0
Fair value of stock options granted (in dollars per share)	$ 8.10	$ 5.79
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of incremental vesting schedule	25.00%
Incremental vesting schedule period	4 years
Stock options expiry date	6 years
Options awarded under the plans vesting period	4 years
Weighted-average grant-date fair value of stock options granted	$ 400,000	$ 300,000
Aggregate intrinsic value of stock options exercised	13,600,000	8,900,000	$ 18,800,000
Unrecognized compensation cost for non-vested stock option	$ 200,000
Compensation cost for non-vested stock options weighted average period	4 months 6 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options awarded under the plans vesting period	3 years
Share-based compensation arrangement by share-based payment award, remaining contractual terms	3 years
Achievement of an earnings per share target	70.00%
Achievement of total growth in revenue	30.00%
Restricted Stock Units and Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost for non-vested stock options weighted average period	8 months 19 days
Unrecognized compensation cost for restricted stock awards	$ 5,500,000
Total fair value of shares vested during period	4,900,000	4,600,000	3,900,000
Market value of shares awarded during period	$ 5,000,000	$ 4,300,000	$ 4,500,000
2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share available for future grant (in shares)	2,000,000
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share available for future grant (in shares)				3,100,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options awarded under the plans vesting period	3 years
Minimum \| Restricted Stock Units and Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options awarded under the plans vesting period	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP allows qualified employees to purchase shares of common stock	$ 25,000
Shares purchased under ESPP	2,000,000
Options awarded under the plans vesting period	4 years
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of initial grant	200.00%
Maximum \| Restricted Stock Units and Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options awarded under the plans vesting period	4 years

Employee Stock Plans - Schedule of Share-Based Compensation Awards (Before Income Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock options	$ 1,291	$ 1,878	$ 1,848
Restricted stock units and awards	5,603	4,960	4,375
Performance share units	4,513	2,031	1,031
Total share-based compensation expense	$ 11,407	$ 8,869	$ 7,254

Employee Stock Plans - Stock Award Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Option Activity
Outstanding beginning balance (in shares)	1,820,000
Granted (in shares)	50,000	50,000	0
Exercised (in shares)	(647,000)
Outstanding ending balance (in shares)	1,223,000	1,820,000
Stock Option Weighted Average Exercise Price Per Share
Outstanding begging balance (in dollars per share)	$ 15.02
Granted (in dollars per share)	32.64
Exercised (in dollars per share)	11.30
Outstanding ending balance (in dollars per share)	$ 17.71	$ 15.02
Stock Option Activity, Additional Disclosures
Options outstanding, Weighted average remaining contractual term	1 year 11 months 23 days
Options outstanding, Aggregate intrinsic value (in dollars)	$ 26.2
Options vested and exercisable, Number of Options (in shares)	1,075,000
Options vested and exercisable, Weighted average exercise price per share (in dollars per share)	$ 17.47
Options vested and exercisable, Weighted average remaining contractual term	1 year 11 months 4 days
Options exercisable, Aggregate intrinsic value (in dollars)	$ 23.3

Employee Stock Plans - Schedule of Fair Value Option Award Weighted Average Assumptions Used (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Expected volatility	27.49%	27.27%
Expected option life ( in years)	4 years 8 months 15 days	4 years 8 months 1 day
Risk-free interest rate	0.74%	0.19%
Expected dividend yield	0.00%	0.00%

Employee Share Plans - Schedule of Restricted Stock Award Activity (Details) - Restricted Stock Units and Awards shares in Thousands	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Number of Shares
Non-vested beginning balance (in shares) \| shares	461
Granted (in shares) \| shares	174
Vested (in shares) \| shares	(246)
Non-vested ending balance (in shares) \| shares	389
Weighted Average Grant Date Fair Value
Non-vested beginning balance (in dollars per share) \| $ / shares	$ 21.03
Granted (in dollars per share) \| $ / shares	28.62
Vested (in dollars per share) \| $ / shares	20.00
Non-vested ending balance (in dollars per share) \| $ / shares	$ 25.07

Employee Stock Plans - Performance Share Units Award Activity (Details) - Performance Shares shares in Thousands	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Number of PSUs
Non-vested beginning balance (in shares) \| shares	307
Granted (in shares) \| shares	140
Adjustments for performance results (in shares) \| shares	26
Non-vested ending balance (in shares) \| shares	473
Grant Date Fair Value Per Unit
Outstanding beginning balance (in dollars per share) \| $ / shares	$ 22.18
Granted (in dollars per share) \| $ / shares	27.56
Adjustments for performance results (in dollars per share) \| $ / shares	19.82
Outstanding ending balance (in dollars per share) \| $ / shares	$ 23.64

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Income (loss) from continuing operations	$ 70,911	$ 78,347	$ 71,049
Basic
Weighted average common shares outstanding	52,637	54,288	54,299
Diluted
Stock options (in shares)	683	802	1,288
Restricted stock awards (in shares)	192	195	234
Contingent shares	0	74	74
Performance share units (in shares)	211	0	0
Diluted weighted average common shares outstanding (3)	53,723	55,359	55,895
Earnings Per Share:
Basic earnings per share from continuing operations (in dollars per share)	$ 1.35	$ 1.44	$ 1.31
Diluted earnings per share from continuing operations (in dollars per share)	$ 1.32	$ 1.42	$ 1.27
Share-based Payment Arrangement
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 (in shares)	23	253	482
Performance Shares
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 (in shares)	300	300

Leases - Schedule of Balance Sheet Information Related to Leases (Details)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term	6 years 4 months 24 days	6 years 8 months 12 days
Weighted-average discount rate	3.54%	3.60%

Leases - Schedule of Lease Cost and Other Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 35,584	$ 34,781
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows for operating leases	$ 38,042	$ 35,426

Leases - Additional Information (Details)	Dec. 31, 2021
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	1 year
Operating lease, renewal term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining lease term	10 years
Operating lease, renewal term	5 years

Leases - Schedule of Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Year one	$ 36,202	$ 36,270
Year two	33,490	30,354
Year three	29,153	27,709
Year four	27,779	24,401
Year five	23,213	22,662
Thereafter	50,311	52,432
Total undiscounted lease payments	200,148	193,828
Less: imputed interest	(23,754)	(21,325)
Total lease liabilities	$ 176,394	$ 172,503

Related Parties - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Operating lease payments to related parties	$ 2.3	$ 2.2	$ 2.4

Business Combinations - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) business	Dec. 31, 2020 USD ($) business	Dec. 31, 2019 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Annual aggregate revenue	$ 74,400	$ 45,200
Proceeds from sales of divested operations	$ 9,710	$ 711	$ 3
Benefits and Insurance Services
Business Acquisition, Contingent Consideration [Line Items]
Number of businesses sold \| business	1
Proceeds from sales of divested operations	$ 9,700
Gain (loss) on disposition of business	$ 6,300
Financial Services
Business Acquisition, Contingent Consideration [Line Items]
Number of businesses sold \| business		2
Gain (loss) on disposition of business		$ (500)
Client lists
Business Acquisition, Contingent Consideration [Line Items]
Acquired finite-lived intangible assets, useful life	10 years
Other intangibles
Business Acquisition, Contingent Consideration [Line Items]
Acquired finite-lived intangible assets, useful life	3 years

Business Combinations - Aggregated Consideration And Preliminary Purchase Price Allocation (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 740,743	$ 683,083	$ 588,213
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Common stock issued (in shares)	207	339
Common stock value	$ 6,940	$ 8,698
Cash paid	66,651	73,372
Other payable	0	59
Recorded contingent consideration	39,665	38,901
Total recorded purchase price	113,256	121,030
Accounts receivable acquired, net	9,838	5,381
Fixed assets acquired	1,473	0
Identifiable intangible assets acquired	42,422	20,703
Operating lease right-of-use asset acquired, net	19,153	2,746
Other assets acquired, net	848	967
Operating lease liability acquired - current	(3,020)	(793)
Other current liabilities acquired	(1,771)	(3,460)
Operating lease liability acquired - noncurrent	(16,133)	(1,953)
Goodwill	60,446	97,439
Total net assets acquired	113,256	121,030
Maximum potential contingent consideration	$ 41,720	$ 43,052

Business Combinations - Segment Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination Segment Allocation [Line Items]
Goodwill	$ 740,743	$ 683,083	$ 588,213
Series of Individually Immaterial Business Acquisitions
Business Combination Segment Allocation [Line Items]
Goodwill	60,446	97,439
Financial Services
Business Combination Segment Allocation [Line Items]
Goodwill	426,685	368,039	334,247
Financial Services \| Series of Individually Immaterial Business Acquisitions
Business Combination Segment Allocation [Line Items]
Goodwill	58,646	34,785
Total	99,732	35,270
Financial Services \| Series of Individually Immaterial Business Acquisitions \| Client lists
Business Combination Segment Allocation [Line Items]
Intangibles	40,950	0
Financial Services \| Series of Individually Immaterial Business Acquisitions \| Other intangibles
Business Combination Segment Allocation [Line Items]
Intangibles	136	485
Benefits and Insurance Services
Business Combination Segment Allocation [Line Items]
Goodwill	312,392	313,378	$ 252,300
Benefits and Insurance Services \| Series of Individually Immaterial Business Acquisitions
Business Combination Segment Allocation [Line Items]
Goodwill	1,800	62,654
Total	3,136	82,872
Benefits and Insurance Services \| Series of Individually Immaterial Business Acquisitions \| Client lists
Business Combination Segment Allocation [Line Items]
Intangibles	1,290	19,350
Benefits and Insurance Services \| Series of Individually Immaterial Business Acquisitions \| Other intangibles
Business Combination Segment Allocation [Line Items]
Intangibles	$ 46	$ 868

Business Combinations - Changes in Contingent Purchase Price Consideration (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Combinations [Abstract]
Net expense (income)	$ 2,367	$ (629)
Cash settlement paid	$ 13,785	$ 12,461
Shares issued (number) (in shares)	109	91

Segment Disclosures - Additional Information (Details)	12 Months Ended
Segment Disclosures - Additional Information (Details)	Dec. 31, 2021 practiceGroup
Segment Reporting [Abstract]
Number of business units of the company	3

Segment Disclosures - Schedule of Revenue from External Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 1,104,925	$ 963,897	$ 948,424
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	1,103,183	962,272	946,801
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 1,742	$ 1,625	$ 1,623

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment Disclosures - Summary of Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 1,104,925	$ 963,897	$ 948,424
Operating expenses	945,635	825,351	823,496
Gross margin	159,290	138,546	124,928
Corporate general and administrative expenses	56,150	46,066	44,406
Legal settlement, net	30,468	0	0
Operating income (loss)	72,672	92,480	80,522
Other (expense) income:
Interest expense	(3,868)	(4,983)	(5,765)
Gain (loss) on sale of operations, net	5,995	(509)	417
Other income, net	18,241	16,500	17,715
Total other income, net	20,368	11,008	12,367
Income from continuing operations before income tax expense	93,040	103,488	92,889
Financial Services
Segment Reporting Information [Line Items]
Revenue	734,026	629,778	616,567
Benefits and Insurance Services
Segment Reporting Information [Line Items]
Revenue	332,323	297,758	296,228
National Practices
Segment Reporting Information [Line Items]
Revenue	38,576	36,361	35,629
Operating Segments \| Financial Services
Segment Reporting Information [Line Items]
Revenue	734,026	629,778	616,567
Operating expenses	608,238	525,209	515,240
Gross margin	125,788	104,569	101,327
Corporate general and administrative expenses	0	0	0
Legal settlement, net	0
Operating income (loss)	125,788	104,569	101,327
Other (expense) income:
Interest expense	0	0	0
Gain (loss) on sale of operations, net	(289)	(612)	578
Other income, net	263	262	(121)
Total other income, net	(26)	(350)	457
Income from continuing operations before income tax expense	125,762	104,219	101,784
Operating Segments \| Benefits and Insurance Services
Segment Reporting Information [Line Items]
Revenue	332,323	297,758	296,228
Operating expenses	271,650	248,357	246,245
Gross margin	60,673	49,401	49,983
Corporate general and administrative expenses	0	0	0
Legal settlement, net	0
Operating income (loss)	60,673	49,401	49,983
Other (expense) income:
Interest expense	0	(34)	(57)
Gain (loss) on sale of operations, net	6,284	103	0
Other income, net	827	196	238
Total other income, net	7,111	265	181
Income from continuing operations before income tax expense	67,784	49,666	50,164
Operating Segments \| National Practices
Segment Reporting Information [Line Items]
Revenue	38,576	36,361	35,629
Operating expenses	34,494	32,637	32,474
Gross margin	4,082	3,724	3,155
Corporate general and administrative expenses	0	0	0
Legal settlement, net	0
Operating income (loss)	4,082	3,724	3,155
Other (expense) income:
Interest expense	0	0	0
Gain (loss) on sale of operations, net	0	0	0
Other income, net	3	1	1
Total other income, net	3	1	1
Income from continuing operations before income tax expense	4,085	3,725	3,156
Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0	0
Operating expenses	31,253	19,148	29,537
Gross margin	(31,253)	(19,148)	(29,537)
Corporate general and administrative expenses	56,150	46,066	44,406
Legal settlement, net	30,468
Operating income (loss)	(117,871)	(65,214)	(73,943)
Other (expense) income:
Interest expense	(3,868)	(4,949)	(5,708)
Gain (loss) on sale of operations, net	0	0	(161)
Other income, net	17,148	16,041	17,597
Total other income, net	13,280	11,092	11,728
Income from continuing operations before income tax expense	$ (104,591)	$ (54,122)	$ (62,215)

Subsequent Events - Additional Information (Details) - Subsequent Event - USD ($) $ in Thousands	Mar. 31, 2023	Feb. 10, 2022	Jan. 01, 2022
Subsequent Event [Line Items]
Stock repurchase program duration		17 years
Marks Paneth LLP
Subsequent Event [Line Items]
Cash paid			$ 81,250
Maximum potential contingent consideration			$ 75,250
Common stock issued (in shares)			7,520,000
Common stock percent of total earnout			10.00%
Period following each issuance of common stock, subject to terms			1 year
Forecast
Subsequent Event [Line Items]
Stock repurchase program authorized to be repurchased (in shares)	5,000,000
Renewal period of share repurchase	1 year