Segment Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has five operating segments. The Executive Search business operates in the Americas, Europe (which includes Africa) and Asia Pacific (which includes the Middle East), and the Heidrick Consulting and On-Demand Talent businesses operate globally.

For segment purposes, reimbursements of out-of-pocket expenses classified as revenue and other operating income are reported separately and, therefore, are not included in the results of each segment. The Company believes that analyzing trends in revenue before reimbursements (net revenue), analyzing operating expenses as a percentage of net revenue, and analyzing operating income, more appropriately reflect its core operations.

Revenue and operating income by segment are as follows:

	Three Months Ended March 31,
	2023		2022
Revenue
Executive Search
Americas	$	127,327	$	162,553
Europe	38,931		49,745
Asia Pacific	24,229		30,251
Total Executive Search	190,487		242,549
On-Demand Talent	31,117		23,381
Heidrick Consulting	17,713		17,931
Revenue before reimbursements (net revenue)	239,317		283,861
Reimbursements	2,802		1,676
Total revenue	$	242,119	$	285,537

	Three Months Ended March 31,
	2023		2022
Operating income (loss)
Executive Search
Americas	$	38,699	$	39,851
Europe	1,712		5,403
Asia Pacific	3,282		5,054
Total Executive Search	43,693		50,308
On-Demand Talent	(4,364)		(582)
Heidrick Consulting	(3,116)		(2,084)
Total segment operating income	36,213		47,642
Research and Development	(5,528)		(4,402)
Global Operations Support	(12,914)		(13,008)
Total operating income	$	17,771	$	30,232