Segments (Tables)

9 Months Ended

Jan. 31, 2020

Segment Reporting [Abstract]

Financial Highlights by Business Segment

Financial highlights by business segment are as follows:

	Three Months Ended January 31, 2020
					Executive Search
	Consulting		Digital		North America		EMEA		Asia Pacific		Latin America		Subtotal		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	140,525	$	99,389	$	106,888	$	44,301	$	25,089	$	7,283	$	183,561	$	91,850	$	—		$	515,325
Total revenue	$	144,298	$	100,663	$	110,230	$	45,077	$	25,365	$	7,351	$	188,023	$	94,995	$	—		$	527,979
Net income attributable to Korn Ferry																				$	19,993
Net income attributable to noncontrolling interest																					963
Other income, net																					(5,055	)
Interest expense, net																					6,919
Income tax provision																					8,775
Operating income (loss)	$	2,663	$	8,463	$	21,808	$	4,644	$	5,070	$	1,198	$	32,720	$	14,144	$	(26,395	)		31,595
Depreciation and amortization		4,417		5,832		847		422		329		295		1,893		979		1,742			14,863
Other income (loss), net		558		193		3,963		29		106		162		4,260		88		(44	)		5,055
EBITDA		7,638		14,488		26,618		5,095		5,505		1,655		38,873		15,211		(24,697	)		51,513
Integration/acquisition costs		—		4,332		—		—		—		—		—		—		2,372			6,704
Restructuring, charges, net		11,061		7,032		—		—		—		—		—		—		—			18,093
Separation costs		—		—		—		1,783		—		—		1,783		—		—			1,783
Adjusted EBITDA	$	18,699	$	25,852	$	26,618	$	6,878	$	5,505	$	1,655	$	40,656	$	15,211	$	(22,325	)	$	78,093

	Three Months Ended January 31, 2019
					Executive Search
	Consulting		Digital		North America		EMEA		Asia Pacific			Latin America		Subtotal		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	139,029	$	62,473	$	114,215	$	45,940	$	25,687		$	7,554	$	193,396	$	79,606	$	—		$	474,504
Total revenue	$	143,204	$	62,473	$	117,725	$	46,639	$	26,046		$	7,573	$	197,983	$	82,512	$	—		$	486,172
Net income attributable to Korn Ferry																					$	44,964
Net income attributable to noncontrolling interest																						480
Other income, net																						(2,463	)
Interest expense, net																						4,282
Income tax provision																						15,420
Operating income (loss)	$	11,782	$	17,497	$	30,596	$	7,525	$	5,929		$	653	$	44,703	$	12,176	$	(23,475	)		62,683
Depreciation and amortization		4,001		3,306		970		402		338			97		1,807		803		1,824			11,741
Other income (loss), net		582		204		1,626		26		(134	)		133		1,651		77		(51	)		2,463
EBITDA		16,365		21,007		33,192		7,953		6,133			883		48,161		13,056		(21,702	)		76,887
Integration/acquisition costs		650		127		—		—		—			—		—		—		27			804
Adjusted EBITDA	$	17,015	$	21,134	$	33,192	$	7,953	$	6,133		$	883	$	48,161	$	13,056	$	(21,675	)	$	77,691

	Nine Months Ended January 31, 2020
					Executive Search
	Consulting		Digital		North America		EMEA		Asia Pacific		Latin America		Subtotal		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	422,103	$	223,097	$	332,428	$	130,652	$	78,395	$	23,140	$	564,615	$	282,448	$	—		$	1,492,263
Total revenue	$	433,832	$	224,371	$	342,753	$	132,830	$	79,201	$	23,211	$	577,995	$	292,156	$	—		$	1,528,354
Net income attributable to Korn Ferry																				$	105,748
Net income attributable to noncontrolling interest																					1,890
Other income, net																					(8,014	)
Interest expense, net																					15,186
Income tax provision																					38,988
Operating income (loss)	$	24,272	$	41,036	$	80,254	$	18,466	$	17,866	$	2,999	$	119,585	$	44,279	$	(75,374	)		153,798
Depreciation and amortization		13,188		13,156		2,617		1,328		1,004		938		5,887		2,961		5,163			40,355
Other income (loss), net		1,469		528		5,740		148		193		249		6,330		216		(529	)		8,014
EBITDA		38,929		54,720		88,611		19,942		19,063		4,186		131,802		47,456		(70,740	)		202,167
Integration/acquisition costs		—		4,332		—		—		—		—		—		—		4,987			9,319
Restructuring charges, net		11,061		7,032		—		—		—		—		—		—		—			18,093
Separation costs		—		—		—		1,783		—		—		1,783		—		—			1,783
Adjusted EBITDA	$	49,990	$	66,084	$	88,611	$	21,725	$	19,063	$	4,186	$	133,585	$	47,456	$	(65,753	)	$	231,362

	Nine Months Ended January 31, 2019
						Executive Search
	Consulting			Digital		North America		EMEA		Asia Pacific		Latin America		Subtotal		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	423,958		$	190,008	$	342,175	$	137,522	$	79,918	$	24,339	$	583,954	$	237,357	$	—		$	1,435,277
Total revenue	$	437,235		$	190,008	$	352,804	$	140,024	$	80,817	$	24,388	$	598,033	$	246,051	$	—		$	1,471,327
Net income attributable to Korn Ferry																					$	52,387
Net income attributable to noncontrolling interest																						1,782
Other income, net																						(2,483	)
Interest expense, net																						12,722
Income tax provision																						14,143
Operating income (loss)	$	(47,431	)	$	23,057	$	92,438	$	21,813	$	19,337	$	3,460	$	137,048	$	36,337	$	(70,460	)		78,551
Depreciation and amortization		12,219			9,483		2,917		867		1,083		305		5,172		2,325		5,291			34,490
Other income (loss), net		1,107			514		1,146		388		118		263		1,915		103		(1,156	)		2,483
EBITDA		(34,105	)		33,054		96,501		23,068		20,538		4,028		144,135		38,765		(66,325	)		115,524
Integration/acquisition costs		5,304			1,255		—		—		—		—		—		—		187			6,746
Tradename write-offs		76,967			29,588		—		—		—		—		—		—		—			106,555
Adjusted EBITDA	$	48,166		$	63,897	$	96,501	$	23,068	$	20,538	$	4,028	$	144,135	$	38,765	$	(66,138	)	$	228,825