Supplemental Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Condensed Consolidating Balance Sheet as of March 31, 2018



	FTI Consulting		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	8,406	$	157	$	143,481	$	—		$	152,044
Accounts receivable, net	185,359		181,692		216,537		—			583,588
Intercompany receivables	—		1,114,635		5,251		(1,119,886		)	—
Other current assets	28,620		23,096		28,430		—			80,146
Total current assets	222,385		1,319,580		393,699		(1,119,886		)	815,778
Property and equipment, net	39,967		12,508		23,111		—			75,586
Goodwill	570,876		416,053		221,082		—			1,208,011
Other intangible assets, net	17,552		10,838		28,160		(14,160		)	42,390
Investments in subsidiaries	2,224,753		544,824		—		(2,769,577		)	—
Other assets	32,297		65,651		36,739		—			134,687
Total assets	$	3,107,830	$	2,369,454	$	702,791	$	(3,903,623	)	$	2,276,452
Liabilities
Intercompany payables	$	1,119,886	$	—	$	—	$	(1,119,886	)	$	—
Other current liabilities	110,376		128,921		104,170		—			343,467
Total current liabilities	1,230,262		128,921		104,170		(1,119,886		)	343,467
Long-term debt, net	441,473		—		—		—			441,473
Other liabilities	198,661		10,308		45,109		—			254,078
Total liabilities	1,870,396		139,229		149,279		(1,119,886		)	1,039,018
Stockholders' equity	1,237,434		2,230,225		553,512		(2,783,737		)	1,237,434
Total liabilities and stockholders' equity	$	3,107,830	$	2,369,454	$	702,791	$	(3,903,623	)	$	2,276,452

Condensed Consolidating Balance Sheet as of December 31, 2017



	FTI Consulting		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	10,186	$	159	$	179,616	$	—		$	189,961
Accounts receivable, net	155,124		156,859		210,895		—			522,878
Intercompany receivables	—		1,093,211		32,695		(1,125,906		)	—
Other current assets	31,933		21,840		27,567		—			81,340
Total current assets	197,243		1,272,069		450,773		(1,125,906		)	794,179
Property and equipment, net	39,137		13,572		22,366		—			75,075
Goodwill	570,876		416,053		217,874		—			1,204,803
Other intangible assets, net	18,426		11,251		29,441		(14,968		)	44,150
Investments in subsidiaries	2,175,362		566,911		—		(2,742,273		)	—
Other assets	34,454		60,566		44,014		—			139,034
Total assets	$	3,035,498	$	2,340,422	$	764,468	$	(3,883,147	)	$	2,257,241
Liabilities
Intercompany payables	$	1,125,906	$	—	$	—	$	(1,125,906	)	$	—
Other current liabilities	127,295		144,474		138,559		—			410,328
Total current liabilities	1,253,201		144,474		138,559		(1,125,906		)	410,328
Long-term debt, net	396,284		—		—		—			396,284
Other liabilities	194,042		14,753		49,863		—			258,658
Total liabilities	1,843,527		159,227		188,422		(1,125,906		)	1,065,270
Stockholders' equity	1,191,971		2,181,195		576,046		(2,757,241		)	1,191,971
Total liabilities and stockholders' equity	$	3,035,498	$	2,340,422	$	764,468	$	(3,883,147	)	$	2,257,241

Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended March 31, 2018



	FTI Consulting		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	185,321	$	157,129		$	157,772		$	(2,448	)	$	497,774
Operating expenses
Direct cost of revenues	115,460		109,398			98,597			(2,338		)	321,117
Selling, general and administrative expenses	50,681		28,980			32,577			(110		)	112,128
Amortization of other intangible assets	874		414			1,790			(808		)	2,270
	167,015		138,792			132,964			(3,256		)	435,515
Operating income	18,306		18,337			24,808			808			62,259
Other income (expense)	16,930		(309		)	(1,665		)	(23,000		)	(8,044		)
Income before income tax provision	35,236		18,028			23,143			(22,192		)	54,215
Income tax provision (benefit)	4,370		6,040			4,860			—			15,270
Equity in net earnings of subsidiaries	8,079		34,788			—			(42,867		)	—
Net income	$	38,945	$	46,776		$	18,283		$	(65,059	)	$	38,945
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net of tax expense of $0	$	—	$	—		$	10,446		$	—		$	10,446
Other comprehensive income, net of tax	—		—			10,446			—			10,446
Comprehensive income	$	38,945	$	46,776		$	28,729		$	(65,059	)	$	49,391

Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended March 31, 2017



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	151,807		$	171,026		$	126,103	$	(2,592	)	$	446,344
Operating expenses
Direct cost of revenues	111,258			117,786			82,561		(2,533		)	309,072
Selling, general and administrative expenses	45,798			31,379			30,572		(59		)	107,690
Amortization of other intangible assets	902			540			1,770		(719		)	2,493
	157,958			149,705			114,903		(3,311		)	419,255
Operating income	(6,151		)	21,321			11,200		719			27,089
Other income (expense)	(5,252		)	(427		)	483		—			(5,196		)
Income (loss) before income tax provision	(11,403		)	20,894			11,683		719			21,893
Income tax provision (benefit)	(5,583		)	10,918			2,542		—			7,877
Equity in net earnings of subsidiaries	19,836			8,573			—		(28,409		)	—
Net income	$	14,016		$	18,549		$	9,141	$	(27,690	)	$	14,016
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax expense of $0	$	—		$	—		$	7,370	$	—		$	7,370
Other comprehensive income, net of tax	—			—			7,370		—			7,370
Comprehensive income	$	14,016		$	18,549		$	16,511	$	(27,690	)	$	21,386

Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2018



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Operating activities
Net cash provided by (used in) operating activities	$	(27,503	)	$	53,809		$	(95,506	)	$	(69,200	)
Investing activities
Purchases of property and equipment	(3,278		)	(2,583		)	(1,819		)	(7,680		)
Other	27			—			—			27
Net cash used in investing activities	(3,251		)	(2,583		)	(1,819		)	(7,653		)
Financing activities
Borrowings under revolving line of credit, net	45,000			—			—			45,000
Deposits	—			—			1,431			1,431
Purchase and retirement of common stock	(14,220		)	—			—			(14,220		)
Net issuance of common stock under equity compensation plans	4,215			—			—			4,215
Payments for acquisition-related contingent consideration	—			(2,502		)	—			(2,502		)
Intercompany transfers	(6,021		)	(48,726		)	54,747			—
Net cash used in financing activities	28,974			(51,228		)	56,178			33,924
Effects of exchange rate changes on cash and cash equivalents	—			—			5,012			5,012
Net increase (decrease) in cash and cash equivalents	(1,780		)	(2		)	(36,135		)	(37,917		)
Cash and cash equivalents, beginning of year	10,186			159			179,616			189,961
Cash and cash equivalents, end of year	$	8,406		$	157		$	143,481		$	152,044

Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2017



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Operating activities
Net cash used in operating activities	$	(64,127	)	$	(14,723	)	$	(14,237	)	$	(93,087	)
Investing activities
Purchases of property and equipment	(1,985		)	(2,396		)	(1,450		)	(5,831		)
Other	127			—			—			127
Net cash used in investing activities	(1,858		)	(2,396		)	(1,450		)	(5,704		)
Financing activities
Borrowings under revolving line of credit, net	37,000			—			—			37,000
Deposits	—			—			3,069			3,069
Purchase and retirement of common stock	(36,918		)	—			—			(36,918		)
Net issuance of common stock under equity compensation plans	(812		)	—			—			(812		)
Intercompany transfers	37,666			17,120			(54,786		)	—
Net cash provided by (used in) financing activities	36,936			17,120			(51,717		)	2,339
Effects of exchange rate changes on cash and cash equivalents	—			—			1,253			1,253
Net increase (decrease) in cash and cash equivalents	(29,049		)	1			(66,151		)	(95,199		)
Cash and cash equivalents, beginning of year	47,420			156			168,582			216,158
Cash and cash equivalents, end of year	$	18,371		$	157		$	102,431		$	120,959