8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 23, 2023

FTI CONSULTING, INC.

(Exact Name of Registrant as Specified in Its Charter)

Maryland	001-14875	52-1261113
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.

555 12th Street NW, Washington, D.C. 20004

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (202) 312-9100

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	FCN	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. Results of Operations and Financial Condition

FTI Consulting, Inc. (“FTI Consulting”) uses a presentation from time to time in its discussions with investors and analysts (the “Presentation”). The Presentation includes FTI Consulting’s past and present financial results, operating data and other information. A copy of the Presentation is furnished as Exhibit 99.1 and has been posted to the FTI Consulting website at www.fticonsulting.com.

ITEM 7.01. Regulation FD Disclosure

In the Presentation, FTI Consulting uses information derived from consolidated and segment financial information that may not be presented in its financial statements or prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Certain of these measures are considered “non-GAAP financial measures” under rules promulgated by the Securities and Exchange Commission. Specifically, FTI Consulting has referred to the following non-GAAP financial measures:

• Total Segment Operating Income

• Adjusted EBITDA

• Total Adjusted Segment EBITDA

• Adjusted EBITDA Margin

• Adjusted Net Income

• Adjusted Earnings per Diluted Share

• Free Cash Flow

FTI Consulting has included the definitions of “Segment Operating Income” and “Adjusted Segment EBITDA,” which are financial measures presented in accordance with GAAP, in order to more fully define the components of certain non-GAAP financial measures. FTI Consulting evaluates the performance of its operating segments based on Adjusted Segment EBITDA, and Segment Operating Income is a component of the definition of Adjusted Segment EBITDA. FTI Consulting defines “Segment Operating Income” as a segment’s share of consolidated operating income. FTI Consulting defines “Total Segment Operating Income,” which is a non-GAAP financial measure, as the total of Segment Operating Income for all segments, which excludes unallocated corporate expenses. FTI Consulting uses Segment Operating Income for the purpose of calculating Adjusted Segment EBITDA. FTI Consulting defines “Adjusted Segment EBITDA” as a segment’s share of consolidated operating income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. FTI Consulting uses Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of its segments because FTI Consulting believes it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash.

FTI Consulting defines “Total Adjusted Segment EBITDA,” which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. FTI Consulting defines “Adjusted EBITDA,” which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, gain or loss on sale of a business, and losses on early extinguishment of debt. FTI Consulting defines Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of total revenues. FTI Consulting believes that the non-GAAP financial measures, which exclude the effects of remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges, when considered together with its GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of FTI Consulting’s operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of FTI Consulting’s competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in FTI Consulting’s industry. Therefore, FTI Consulting also believes that these measures, considered along with corresponding GAAP financial measures, provide management and investors with additional information for comparison of its operating results with the operating results of other companies.

FTI Consulting defines “Adjusted Net Income” and “Adjusted Earnings per Diluted Share” (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share, respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment of debt, non-cash interest expense on convertible notes and gain or loss on sale of a business. FTI Consulting uses Adjusted Net Income for the purpose of calculating Adjusted EPS. Management of FTI Consulting uses Adjusted EPS to assess total company operating performance on a consistent basis. FTI Consulting believes that these non-GAAP financial measures, when considered together with its corresponding GAAP financial results and GAAP financial measures, provides management and investors with an additional understanding of its business operating results, including underlying trends.

1

FTI Consulting defines “Free Cash Flow” as net cash provided by operating activities less cash payments for purchases of property and equipment. We believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with an additional understanding of FTI Consulting’s ability to generate cash for ongoing business operations and other capital deployment.

Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in FTI Consulting’s Consolidated Statements of Comprehensive Income. Reconciliations of Non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the Presentation.

The information included herein, including Exhibit 99.1 furnished herewith, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filing pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such filing.

ITEM 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1	2022 Fourth Quarter and Year End Investor Presentation of FTI Consulting, Inc.
104	The Cover Page from FTI Consulting’s Current Report on Form 8-K dated February 23, 2023, formatted in Inline XBRL.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, FTI Consulting, Inc. has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		FTI CONSULTING, INC.
Dated: February 24, 2023
	By:	/s/ CURTIS P. LU
	Name:	Curtis P. Lu
	Title:	General Counsel

EX-99.1

Fourth Quarter and Full Year 2022 Earnings Conference Call FTI Consulting, Inc. February 23, 2023 Exhibit 99.1

Cautionary Note About Forward Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, initiatives, projections, prospects, policies and practices, objectives, goals, commitments, strategies, future events, future revenues, future results and performance, future capital allocations and expenditures, expectations, plans or intentions relating to acquisitions, share repurchases and other matters, business trends, new or changes to laws and regulations, including U.S. and foreign tax laws, environmental, social and governance ("ESG") and sustainability related issues, climate change-related matters, scientific or technological developments, and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "commits," "aspires," "forecasts," "future," "goal," "seeks" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s plans, expectations, intentions, aspirations, beliefs, goals, estimates, forecasts and projections will result or be achieved. Our actual financial results, performance or achievements and outcomes could differ materially from those expressed in, or implied by, any forward-looking statements. Further, unaudited quarterly results are subject to normal year-end adjustments. The Company has experienced fluctuating revenues, operating income and cash flows in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer; the mix of the geographic locations where our clients are located or where services are performed; fluctuations in the price per share of our common stock; adverse financial, real estate or other market and general economic conditions; the impact of COVID-19 and related events that are beyond our control, which could affect our segments, practices and the geographic regions in which we conduct business differently and adversely; and other future events, which could impact each of our segments, practices and the geographic regions in which we conduct business differently and could be outside of our control; the pace and timing of the consummation and integration of future acquisitions; the Company’s ability to realize cost savings and efficiencies; competitive and general economic conditions; retention of staff and clients; new laws and regulations or changes thereto; and other risks described under the heading "Item 1A, Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023 and in the Company’s other filings with the SEC. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.

Fourth Quarter 2022: Financial Review (1) See “Financial Tables” and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliations and definitions of Adjusted Earnings per Diluted Share and Adjusted EBITDA, which are non-GAAP financial measures, to the most directly comparable GAAP financial measures, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.   Consolidated Results Q4 2022 Q3 2022 % Variance Q4 2021 % Variance Percentage Change in Revenues Excluding the Estimated Impact of Foreign Currency Translation for Q4 2022 vs. Q4 2021 Revenues $774,431 $775,865 -0.2% $676,231 14.5% 18.4% Net income $47,498 $77,267 -38.5% $38,208 24.3% Earnings per Diluted Share $1.33 $2.15 -38.1% $1.07 24.3% Adjusted Earnings per Diluted Share (1) $1.52 $2.15 -29.3% $1.13 34.5% Adjusted EBITDA (1) $91,974 $98,974 -7.1% $61,975 48.4% Adjusted EBITDA Margin (1) 11.9% 12.8% — 9.2% — Segment Results Corporate Finance & Restructuring Revenues $292,807 $265,370 10.3% $231,474 26.5% 29.5% Adjusted Segment EBITDA $52,416 $51,532 1.7% $22,234 135.7% Adjusted Segment EBITDA Margin 17.9% 19.4% — 9.6% — Forensic and Litigation Consulting Revenues $160,386 $159,948 0.3% $138,004 16.2% 18.8% Adjusted Segment EBITDA $13,819 $18,162 -23.9% $8,491 62.7% Adjusted Segment EBITDA Margin 8.6% 11.4% — 6.2% — Economic Consulting Revenues $172,007 $193,183 -11.0% $172,283 -0.2% 4.9% Adjusted Segment EBITDA $27,336 $32,913 -16.9% $29,991 -8.9% Adjusted Segment EBITDA Margin 15.9% 17.0% — 17.4% — Technology Revenues $76,802 $84,915 -9.6% $64,604 18.9% 22.2% Adjusted Segment EBITDA $11,757 $13,213 -11.0% $7,788 51.0% Adjusted Segment EBITDA Margin 15.3% 15.6% — 12.1% — Strategic Communications Revenues $72,429 $72,449 —% $69,866 3.7% 10.4% Adjusted Segment EBITDA $10,488 $12,947 -19.0% $14,925 -29.7% Adjusted Segment EBITDA Margin 14.5% 17.9% — 21.4% —   All numbers in $000s, except for per share data and percentages

Full Year 2022: Financial Review (1) See “Financial Tables” and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliations and definitions of Adjusted Earnings per Diluted Share and Adjusted EBITDA, which are non-GAAP financial measures, to the most directly comparable GAAP financial measures, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure. All numbers in $000s, except for per share data and percentages   Consolidated Results FY 2022 FY 2021 % Variance Percentage Change in Revenues Excluding the Estimated Impact of Foreign Currency Translation for FY 2022 vs. FY 2021 Revenues $3,028,908 $2,776,222 9.1% 12.2% Net income $235,514 $234,966 0.2% Earnings per Diluted Share $6.58 $6.65 -1.1% Adjusted Earnings per Diluted Share (1) $6.77 $6.76 0.1% Adjusted EBITDA (1) $357,558 $354,010 1.0% Adjusted EBITDA Margin (1) 11.8% 12.8% — Segment Results Corporate Finance & Restructuring Revenues $1,088,573 $938,969 15.9% 18.6% Adjusted Segment EBITDA $212,437 $155,482 36.6% Adjusted Segment EBITDA Margin 19.5% 16.6% — Forensic and Litigation Consulting Revenues $638,478 $584,835 9.2% 11.1% Adjusted Segment EBITDA $65,945 $72,545 -9.1% Adjusted Segment EBITDA Margin 10.3% 12.4% — Economic Consulting Revenues $695,208 $697,405 -0.3% 3.7% Adjusted Segment EBITDA $103,090 $117,186 -12.0% Adjusted Segment EBITDA Margin 14.8% 16.8% — Technology Revenues $319,983 $287,366 11.4% 13.8% Adjusted Segment EBITDA $46,698 $55,739 -16.2% Adjusted Segment EBITDA Margin 14.6% 19.4% — Strategic Communications Revenues $286,666 $267,647 7.1% 13.0% Adjusted Segment EBITDA $50,620 $54,313 -6.8% Adjusted Segment EBITDA Margin 17.7% 20.3% —  

Cash Position and Capital Allocation Snapshot As of December 31, 2022, September 30, 2022 and December 31, 2021 (1)DSO is a performance measure used to assess how quickly revenues are collected by the Company. We calculate DSO at the end of each reporting period by dividing net accounts receivable reduced by billings in excess of services provided, by revenues for the quarter, adjusted for changes in foreign exchange rates. We multiply the result by the number of days in the quarter. (2)Total debt excludes the impact of unamortized deferred issuance costs and unamortized deferred debt discount related to our 2.0% convertible senior notes due 2023 (“2023 Convertible Notes”). The Company adopted Accounting Standards Update 2020-06 and there is no longer a deferred debt discount and related amortization on the 2023 Convertible Notes effective January 1, 2022. (3)See “Financial Tables” and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Free Cash Flow, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure. All numbers in $000s, except for DSO  As of December 31, 2022 As of September 30, 2022 As of December 31, 2021 Cash and cash equivalents $491,688 $327,047 $494,485 Accounts receivable, net $896,153 $947,993 $754,120 Days Sales Outstanding ("DSO") (1) 97 106 94 Net cash provided by (used in) operating activities $188,794 $(40,439) $355,483 Purchases of property and equipment $(53,098) $(38,951) $(68,569) Purchase and retirement of common stock $(85,424) $(20,432) $(46,133) Total Debt (2) $316,219 $316,222 $316,245 Free Cash Flow (3) $135,696 $(79,390) $286,914

Three Months Ended December 31, 2022, September 30, 2022 and December 31, 2021 Reconciliations of Net Income to Adjusted Net Income and Earnings per Diluted Share to Adjusted Earnings per Diluted Share (1)See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Net Income and Adjusted Earnings per Diluted Share, which are non-GAAP financial measures. All numbers in $000s, except for per share data Three Months Ended December 31, 2022 Three Months Ended September 30, 2022 Three Months Ended December 31, 2021 Net income $47,498 $77,267 $38,208 Special charges 8,340 — — Tax impact of special charges (1,584) — — Non-cash interest expense on convertible notes — — 2,445 Tax impact of non-cash interest expense on convertible notes — — (636) Adjusted Net Income (1) $54,254 $77,267 $40,017       Earnings per Diluted Share $1.33 $2.15 $1.07 Special charges 0.23 — — Tax impact of special charges (0.04) — — Non-cash interest expense on convertible notes — — 0.08 Tax impact of non-cash interest expense on convertible notes — — (0.02) Adjusted Earnings per Diluted Share (1) $1.52 $2.15 $1.13 Weighted average number of common shares outstanding — diluted 35,658 35,918 35,550

Reconciliations of Net Income to Adjusted Net Income and Earnings Per Diluted Share to Adjusted Earnings Per Diluted Share Years Ended December 31, 2022 and December 31, 2021 (1)See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Net Income and Adjusted Earnings per Diluted Share, which are non-GAAP financial measures. All numbers in $000s, except for per share data Year Ended December 31, 2022 Year Ended December 31, 2021 Net income $235,514 $234,966 Remeasurement of acquisition-related contingent consideration — (3,130) Special charges 8,340 — Tax impact of special charges (1,584) — Non-cash interest expense on convertible notes — 9,586 Tax impact of non-cash interest expense on convertible notes — (2,492) Adjusted Net Income (1) $242,270 $238,930       Earnings per Diluted Share $6.58 $6.65 Remeasurement of acquisition-related contingent consideration — (0.09) Special charges 0.23 — Tax impact of special charges (0.04) — Non-cash interest expense on convertible notes — 0.27 Tax impact of non-cash interest expense on convertible notes — (0.07) Adjusted Earnings per Diluted Share (1) $6.77 $6.76 Weighted average number of common shares outstanding — diluted 35,783 35,337

Three Months Ended December 31, 2022 and September 30, 2022 Reconciliations of Net Income and Operating Income to Adjusted EBITDA All numbers in $000s (1)See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure. Three Months Ended December 31, 2022   Corporate Finance & Restructuring Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $47,498 Interest income and other 6,500 Interest expense 2,579 Income tax provision 16,079 Operating income $46,359 $7,696 $26,122 $8,425 $9,360 $(25,306) $72,656 Depreciation and amortization 1,673 1,267 1,183 3,226 618 688 8,655 Amortization of intangible assets 1,940 242 — — 141 — 2,323 Special charges 2,444 4,614 31 106 369 776 8,340 Adjusted EBITDA (1) $52,416 $13,819 $27,336 $11,757 $10,488 $(23,842) $91,974 Three Months Ended September 30, 2022   Corporate Finance & Restructuring Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $77,267 Interest income and other (7,771) Interest expense 2,378 Income tax provision 15,836 Operating income $47,948 $16,570 $31,674 $9,833 $12,155 $(30,470) $87,710 Depreciation and amortization 1,675 1,350 1,239 3,380 629 676 8,949 Amortization of intangible assets 1,909 242 — — 163 1 2,315 Adjusted EBITDA (1) $51,532 $18,162 $32,913 $13,213 $12,947 $(29,793) $98,974

Three Months Ended December 31, 2021 Reconciliations of Net Income and Operating Income to Adjusted EBITDA All numbers in $000s (1)See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure. Three Months Ended December 31, 2021   Corporate Finance & Restructuring Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $38,208 Interest income and other (896) Interest expense 5,130 Income tax provision 8,587 Operating income $19,047 $7,044 $28,571 $4,612 $14,171 $(22,416) $51,029 Depreciation and amortization 1,346 1,200 1,420 3,176 536 960 8,638 Amortization of intangible assets 1,841 247 — — 218 2 2,308 Adjusted EBITDA (1) $22,234 $8,491 $29,991 $7,788 $14,925 $(21,454) $61,975

Reconciliations of Net Income and Operating Income to Adjusted EBITDA Years Ended December 31, 2022 and December 31, 2021 All numbers in $000s (1)See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure. Year Ended December 31, 2022   Corporate Finance & Restructuring Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $235,514 Interest income and other (3,918) Interest expense 10,047 Income tax provision 62,235 Operating income $195,295 $54,822 $98,178 $33,431 $46,982 $(124,830) $303,878 Depreciation and amortization 6,722 5,532 4,881 13,161 2,580 2,821 35,697 Amortization of intangible assets 7,976 977 — — 689 1 9,643 Special charges 2,444 4,614 31 106 369 776 8,340 Adjusted EBITDA (1) $212,437 $65,945 $103,090 $46,698 $50,620 $(121,232) $357,558 Year Ended December 31, 2021   Corporate Finance & Restructuring Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $234,966 Interest income and other (6,193) Interest expense 20,294 Income tax provision 62,981 Operating income $145,765 $66,643 $111,462 $42,927 $49,708 $(104,457) $312,048 Depreciation and amortization 5,362 5,008 5,724 12,812 2,166 3,197 34,269 Amortization of intangible assets 7,485 894 — — 2,439 5 10,823 Remeasurement of acquisition-related contingent consideration (3,130) — — — — — (3,130) Adjusted EBITDA (1) $155,482 $72,545 $117,186 $55,739 $54,313 $(101,255) $354,010

Years Ended December 31, 2022 and December 31, 2021 and Nine Months Ended September 30, 2022 Reconciliations of Net Cash Provided by (Used in) Operating Activities to Free Cash Flow (1)See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Free Cash Flow, which is a non-GAAP financial measure. All numbers in $000s Year Ended December 31, 2022 Nine Months Ended September 30, 2022 Year Ended December 31, 2021 Net cash provided by (used in) operating activities $188,794 $(40,439) $355,483 Purchases of property and equipment (53,098) (38,951) (68,569) Free Cash Flow (1) $135,696 $(79,390) $286,914

End Notes: FTI Consulting Non-GAAP Financial Measures In this presentation, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Certain of these measures are considered “non-GAAP financial measures” under the Securities and Exchange Commission ("SEC") rules. Specifically, we have referred to the following non-GAAP financial measures in this presentation: Adjusted EBITDA Adjusted EBITDA Margin Adjusted Net Income Adjusted Earnings per Diluted Share Free Cash Flow We have included the definitions of Segment Operating Income and Adjusted Segment EBITDA, which are GAAP financial measures, below in order to more fully define the components of certain non-GAAP financial measures in this presentation. We define Segment Operating Income as a segment’s share of consolidated operating income. We use Segment Operating Income for the purpose of calculating Adjusted Segment EBITDA. We define Adjusted Segment EBITDA as a segment’s share of consolidated operating income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, gain or loss on sale of a business and losses on early extinguishment of debt. We believe that this non-GAAP financial measure, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry. Therefore, we also believe that this non-GAAP financial measure, considered along with corresponding GAAP financial measures, provide management and investors with additional information for comparison of our operating results with the operating results of other companies. We define Adjusted EBITDA Margin, which is a non-GAAP financial measure, as Adjusted EBITDA as a percentage of total revenues. We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share ("EPS"), respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment of debt, non-cash interest expense on convertible notes and the gain or loss on sale of a business. We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with an additional understanding of our business operating results, including underlying trends. We define Free Cash Flow, which is a non-GAAP financial measure, as net cash provided by operating activities less cash payments for purchases of property and equipment. We believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with an additional understanding of the Company’s ability to generate cash for ongoing business operations and other capital deployment. Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Cash Flows.

Fourth Quarter 2022: Select Geographic Review Consolidated Revenues by Region Region Q4 2022 Q3 2022 % Variance Q4 2021 % Variance Percentage Change in Revenues Excluding the Estimated Impact of Foreign Currency Translation for Q4 2022 vs. Q4 2021 North America $492,611 $518,965 -5.1% $420,886 17.0% 17.2% EMEA $220,648 $195,069 13.1% $202,014 9.2% 20.2% Asia Pacific $52,281 $53,248 -1.8% $43,845 19.2% 26.0% Latin America $8,891 $8,403 5.8% $9,486 -6.3% -5.1% Percentage of Consolidated Revenues by Region Region Q4 2022 Q3 2022 Q4 2021 North America 63.6% 66.9% 62.2% EMEA 28.5% 25.1% 29.9% Asia Pacific 6.8% 6.9% 6.5% Latin America 1.1% 1.1% 1.4% All numbers in $000s, except for percentages

Full Year 2022: Select Geographic Review Consolidated Revenues by Region Region FY 2022 FY 2021 % Variance Percentage Change in Revenues Excluding the Estimated Impact of Foreign Currency Translation for FY 2022 vs. FY 2021 North America $1,968,527 $1,751,528 12.4% 12.5% EMEA $817,129 $810,312 0.8% 10.9% Asia Pacific $201,937 $176,214 14.6% 18.7% Latin America $41,315 $38,167 8.2% 10.3% Percentage of Consolidated Revenues by Region Region FY 2022 FY 2021 North America 65.0% 63.1% EMEA 27.0% 29.2% Asia Pacific 6.7% 6.3% Latin America 1.3% 1.4% All numbers in $000s, except for percentages

Fourth Quarter 2022

Experts with Impact TM

XML

Document and Entity Information	Feb. 23, 2023
Cover [Abstract]
Entity Registrant Name	FTI CONSULTING, INC
Entity Address, State or Province	DC
Amendment Flag	false
Entity Central Index Key	0000887936
Document Type	8-K
Document Period End Date	Feb. 23, 2023
Entity Incorporation State Country Code	MD
Entity File Number	001-14875
Entity Tax Identification Number	52-1261113
Entity Address, Address Line One	555 12th Street NW
Entity Address, City or Town	Washington
Entity Address, Postal Zip Code	20004
City Area Code	(202)
Local Phone Number	312-9100
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, par value $0.01 per share
Trading Symbol	FCN
Security Exchange Name	NYSE
Entity Emerging Growth Company	false