13. Supplemental Condensed Consolidating Guarantor and Non-Guarantor Financial Information

Substantially all of our domestic subsidiaries are guarantors of borrowings under our Senior Bank Credit Facility and 2022 Notes. The guarantees are full and unconditional and joint and several. All of our guarantors are wholly owned, direct or indirect, subsidiaries.

The following financial information presents condensed consolidating balance sheets, statements of comprehensive income (loss) and statements of cash flows for FTI Consulting, all the guarantor subsidiaries, all the non-guarantor subsidiaries and the eliminations necessary to arrive at the consolidated information for FTI Consulting and its subsidiaries. For purposes of this presentation, we have accounted for our investments in our subsidiaries using the equity method of accounting. The principal eliminating entries eliminate investment in subsidiary and intercompany balances and transactions

Condensed Consolidating Balance Sheet Information as of March 31, 2016

	FTI		Guarantor		Non-Guarantor
	Consulting, Inc.		Subsidiaries		Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	13,992	$	163	$	100,296	$	—		$	114,451
Accounts receivable, net		176,302		191,471		185,457		—			553,230
Intercompany receivables		—		921,720		39,450		(961,170	)		—
Other current assets		33,076		22,789		20,805		—			76,670
Total current assets		223,370		1,136,143		346,008		(961,170	)		744,351
Property and equipment, net		31,765		12,649		26,849		—			71,263
Goodwill		558,978		416,053		223,039		—			1,198,070
Other intangible assets, net		24,877		15,013		41,528		(20,225	)		61,193
Investments in subsidiaries		2,021,892		495,463		—		(2,517,355	)		—
Other assets		40,855		70,630		38,682		—			150,167
Total assets	$	2,901,737	$	2,145,951	$	676,106	$	(3,498,750	)	$	2,225,044
Liabilities
Intercompany payables	$	914,711	$	7,087	$	39,372	$	(961,170	)		—
Other current liabilities		109,576		92,243		85,700		—			287,519
Total current liabilities		1,024,287		99,330		125,072		(961,170	)		287,519
Long-term debt, net		501,961		—		—		—			501,961
Other liabilities		194,243		14,387		45,688		—			254,318
Total liabilities		1,720,491		113,717		170,760		(961,170	)		1,043,798
Stockholders' equity		1,181,246		2,032,234		505,346		(2,537,580	)		1,181,246
Total liabilities and stockholders' equity	$	2,901,737	$	2,145,951	$	676,106	$	(3,498,750	)	$	2,225,044

Condensed Consolidating Balance Sheet Information as of December 31, 2015

	FTI		Guarantor		Non-Guarantor
	Consulting, Inc.		Subsidiaries		Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	35,211	$	165	$	114,384	$	—		$	149,760
Accounts receivable, net		159,121		169,488		171,175		—			499,784
Intercompany receivables		—		936,452		62,651		(999,103	)		—
Other current assets		44,086		25,627		22,368		—			92,081
Total current assets		238,418		1,131,732		370,578		(999,103	)		741,625
Property and equipment, net		33,699		13,409		27,652		—			74,760
Goodwill		558,978		416,053		223,267		—			1,198,298
Other intangible assets, net		25,863		15,571		43,542		(21,041	)		63,935
Investments in subsidiaries		1,995,409		486,462		—		(2,481,871	)		—
Other assets		40,359		72,981		37,060		—			150,400
Total assets	$	2,892,726	$	2,136,208	$	702,099	$	(3,502,015	)	$	2,229,018
Liabilities
Intercompany payables	$	930,066	$	8,921	$	60,116	$	(999,103	)	$	—
Other current liabilities		135,421		107,188		104,468		—			347,077
Total current liabilities		1,065,487		116,109		164,584		(999,103	)		347,077
Long-term debt, net		494,772		—		—		—			494,772
Other liabilities		184,864		12,562		42,140		—			239,566
Total liabilities		1,745,123		128,671		206,724		(999,103	)		1,081,415
Stockholders' equity		1,147,603		2,007,537		495,375		(2,502,912	)		1,147,603
Total liabilities and stockholders' equity	$	2,892,726	$	2,136,208	$	702,099	$	(3,502,015	)	$	2,229,018

Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended

March 31, 2016

	FTI			Guarantor			Non-Guarantor
	Consulting, Inc.			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenues	$	182,994		$	162,563		$	127,066		$	(2,338	)	$	470,285
Operating expenses
Direct cost of revenues		114,429			109,190			84,315			(2,298	)		305,636
Selling, general and administrative expenses		44,667			30,721			28,261			(40	)		103,609
Special charges		—			4,563			498			—			5,061
Acquisition-related contingent consideration		6			1,128			—			—			1,134
Amortization of other intangible assets		986			558			1,879			(817	)		2,606
		160,088			146,160			114,953			(3,155	)		418,046
Operating income		22,906			16,403			12,113			817			52,239
Other (expense) income		(5,077	)		(710	)		2,115			—			(3,672	)
Income before income tax provision		17,829			15,693			14,228			817			48,567
Income tax provision		8,149			6,859			3,378			—			18,386
Equity in net earnings of subsidiaries		20,501			9,882			—			(30,383	)		—
Net income	$	30,181		$	18,716		$	10,850		$	(29,566	)	$	30,181
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax expense of $0		—			—			(358	)		—			(358	)
Other comprehensive loss, net of tax:		—			—			(358	)		—			(358	)
Comprehensive income	$	30,181		$	18,716		$	10,492		$	(29,566	)	$	29,823

Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended

March 31, 2015

	FTI			Guarantor			Non-Guarantor
	Consulting, Inc.			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenues	$	169,135		$	144,139		$	121,852		$	(2,788	)	$	432,338
Operating expenses
Direct cost of revenues		105,063			96,587			80,083			(2,703	)		279,030
Selling, general and administrative expenses		43,411			29,877			29,011			(85	)		102,214
Special charges		—			—			—			—			—
Acquisition-related contingent consideration		65			169			—			—			234
Amortization of other intangible assets		986			715			2,181			(870	)		3,012
		149,525			127,348			111,275			(3,658	)		384,490
Operating income		19,610			16,791			10,577			870			47,848
Other (expense) income		(13,866	)		(2,010	)		3,371			—			(12,505	)
Income before income tax provision		5,744			14,781			13,948			870			35,343
Income tax provision		2,563			5,726			3,368			—			11,657
Equity in net earnings of subsidiaries		20,505			9,825			—			(30,330	)		—
Net income	$	23,686		$	18,880		$	10,580		$	(29,460	)	$	23,686
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax expense of $0		—			—			(20,482	)		—			(20,482	)
Other comprehensive loss, net of tax:		—			—			(20,482	)		—			(20,482	)
Comprehensive income	$	23,686		$	18,880		$	(9,902	)	$	(29,460	)	$	3,204

Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2016

	FTI			Guarantor			Non-Guarantor
	Consulting, Inc.			Subsidiaries			Subsidiaries			Consolidated
Operating activities
Net cash used in operating activities	$	(7,700	)	$	(8,956	)	$	(16,443	)	$	(33,099	)
Investing activities
Purchases of property and equipment and other		(788	)		(3,945	)		(1,629	)		(6,362	)
Other		34			—			—			34
Net cash used in investing activities		(754	)		(3,945	)		(1,629	)		(6,328	)
Financing activities
Borrowings under revolving line of credit, net		7,000			—			—			7,000
Deposits		—			—			2,590			2,590
Purchase and retirement of common stock		(2,903	)		—			—			(2,903	)
Net issuance of common stock under equity compensation plans		(1,371	)		—			—			(1,371	)
Other		(135	)		—			—			(135	)
Intercompany transfers		(15,356	)		12,899			2,457			—
Net cash (used in) provided by financing activities		(12,765	)		12,899			5,047			5,181
Effects of exchange rate changes on cash and cash equivalents		—			—			(1,063	)		(1,063	)
Net decrease in cash and cash equivalents		(21,219	)		(2	)		(14,088	)		(35,309	)
Cash and cash equivalents, beginning of year		35,211			165			114,384			149,760
Cash and cash equivalents, end of year	$	13,992		$	163		$	100,296		$	114,451

Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2015

	FTI			Guarantor			Non-Guarantor
	Consulting, Inc.			Subsidiaries			Subsidiaries			Consolidated
Operating activities
Net cash used in operating activities	$	(27,664	)	$	(5,191	)	$	(18,478	)	$	(51,333	)
Investing activities
Purchases of property and equipment and other		(3,979	)		(3,513	)		(1,384	)		(8,876	)
Other		32			—			39			71
Net cash used in investing activities		(3,947	)		(3,513	)		(1,345	)		(8,805	)
Financing activities
Net issuance of common stock under equity compensation plans		4,031			—			—			4,031
Deposits		—			—			1,380			1,380
Other		(85	)		—			—			(85	)
Intercompany transfers		(8,255	)		8,701			(446	)		—
Net cash (used in) provided by financing activities		(4,309	)		8,701			934			5,326
Effects of exchange rate changes on cash and cash equivalents		—			—			(3,573	)		(3,573	)
Net decrease in cash and cash equivalents		(35,920	)		(3	)		(22,462	)		(58,385	)
Cash and cash equivalents, beginning of year		171,090			159			112,431			283,680
Cash and cash equivalents, end of year	$	135,170		$	156		$	89,969		$	225,295