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Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2016
Revenues and Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization for Reportable Segments

The table below presents revenues and Adjusted Segment EBITDA for our reportable segments for the years ended December 31, 2016, 2015 and 2014.

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Finance & Restructuring

 

$

483,269

 

 

$

440,398

 

 

$

391,115

 

Forensic and Litigation Consulting

 

 

457,734

 

 

 

482,269

 

 

 

483,380

 

Economic Consulting

 

 

500,487

 

 

 

447,909

 

 

 

451,040

 

Technology

 

 

177,720

 

 

 

218,599

 

 

 

241,310

 

Strategic Communications

 

 

191,184

 

 

 

189,974

 

 

 

189,367

 

Total revenues

 

$

1,810,394

 

 

$

1,779,149

 

 

$

1,756,212

 

Adjusted Segment EBITDA

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Finance & Restructuring

 

$

97,688

 

 

$

90,101

 

 

$

55,492

 

Forensic and Litigation Consulting

 

 

57,882

 

 

 

64,267

 

 

 

90,468

 

Economic Consulting

 

 

74,102

 

 

 

62,330

 

 

 

59,282

 

Technology

 

 

25,814

 

 

 

39,010

 

 

 

63,545

 

Strategic Communications

 

 

30,458

 

 

 

27,727

 

 

 

22,588

 

Total Adjusted Segment EBITDA

 

$

285,944

 

 

$

283,435

 

 

$

291,375

 

 

Reconciliation of Net Income to Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization

The table below reconciles Net income to Total Adjusted Segment EBITDA. Unallocated corporate expenses primarily include indirect costs related to centrally managed administrative functions that have not been allocated to the segments. These administrative costs include costs related to executive management, legal, corporate office support costs, information technology, accounting, marketing, human resources, and company-wide business development and strategy functions.

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Net income

 

$

85,520

 

 

$

66,053

 

 

$

58,807

 

Add back:

 

 

 

 

 

 

 

 

 

 

 

 

Income tax provision

 

 

42,283

 

 

 

39,333

 

 

 

42,604

 

Interest income and other

 

 

(10,466

)

 

 

(3,232

)

 

 

(4,670

)

Interest expense

 

 

24,819

 

 

 

42,768

 

 

 

50,685

 

Loss on early extinguishment of debt

 

 

 

 

 

19,589

 

 

 

 

Unallocated corporate expenses

 

 

88,182

 

 

 

81,348

 

 

 

84,545

 

Segment depreciation expense

 

 

34,064

 

 

 

27,717

 

 

 

30,267

 

Amortization of intangible assets

 

 

10,306

 

 

 

11,726

 

 

 

15,521

 

Segment special charges

 

 

9,833

 

 

 

 

 

 

16,339

 

Remeasurement of acquisition-related contingent consideration

 

 

1,403

 

 

 

(1,867

)

 

 

(2,723

)

Total Adjusted Segment EBITDA

 

$

285,944

 

 

$

283,435

 

 

$

291,375

 

 

Schedule of Assets by Segments

The table below presents assets by segment. Segment assets primarily include accounts and notes receivable, fixed assets purchased specifically for the segment, goodwill and other intangible assets.

 

 

 

December 31,

 

 

 

2016

 

 

2015

 

Corporate Finance & Restructuring

 

$

681,919

 

 

$

671,605

 

Forensic and Litigation Consulting

 

 

400,047

 

 

 

437,398

 

Economic Consulting

 

 

496,757

 

 

 

498,765

 

Technology

 

 

189,704

 

 

 

200,987

 

Strategic Communications

 

 

214,160

 

 

 

239,443

 

Total segment assets

 

 

1,982,587

 

 

 

2,048,198

 

Unallocated corporate assets

 

 

242,781

 

 

 

180,820

 

Total assets

 

$

2,225,368

 

 

$

2,229,018

 

 

Revenues  
Schedule of Revenues Based on Location of Legal Entity and Information on Long-Lived Assets and Net Assets

The table below details information on our revenues for the years ended December 31, 2016, 2015 and 2014. Revenues have been attributed to location based on the location of the legal entity generating the revenues.

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

United States

 

$

1,298,492

 

 

$

1,281,444

 

 

$

1,256,046

 

United Kingdom

 

 

246,236

 

 

 

236,925

 

 

 

232,281

 

All other foreign countries

 

 

265,666

 

 

 

260,780

 

 

 

267,885

 

Total revenues

 

$

1,810,394

 

 

$

1,779,149

 

 

$

1,756,212

 

 

Long-Lived Assets and Net Assets  
Schedule of Revenues Based on Location of Legal Entity and Information on Long-Lived Assets and Net Assets

The table below details information on our long-lived assets and net assets attributed to geographic location based on the location of the legal entity holding the assets.

 

 

 

December 31, 2016

 

 

December 31, 2015

 

 

 

United States

 

 

United

Kingdom

 

 

AlOther

Foreign Countries

 

 

United States

 

 

United

Kingdom

 

 

AlOther

Foreign Countries

 

Property and equipment, net of accumulated

   depreciation

 

$

39,584

 

 

$

15,312

 

 

$

6,960

 

 

$

47,107

 

 

$

20,335

 

 

$

7,318

 

Net assets

 

$

709,634

 

 

$

193,276

 

 

$

304,448

 

 

$

660,396

 

 

$

210,801

 

 

$

276,406