XML 34 R24.htm IDEA: XBRL DOCUMENT v3.23.2
SEGMENT AND GEOGRAPHICAL INFORMATION
3 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHICAL INFORMATION Segment and Geographical Information
The Company’s reportable segments are described in Note 1 and each are individually managed and provide separate services that require specialized expertise for the provision of those services. Revenues by segment represent fees earned on the various services offered within each segment. Segment profit consists of segment revenues, less (1) direct expenses including compensation, travel, meals and entertainment, professional fees, and bad debt and (2) expenses allocated by headcount such as communications, rent, depreciation and amortization, and office expense. The corporate expense category includes costs not allocated to individual segments, including charges related to incentive compensation and share-based payments to corporate employees, as well as expenses of senior management and corporate departmental functions managed on a worldwide basis, including office of the executives, accounting, human capital, marketing, information technology, and legal and compliance. The following tables present information about revenues, profit and assets by segment and geography.    
Three Months Ended June 30,
20232022
Revenues by segment
Corporate Finance$227,051 $263,951 
Financial Restructuring123,368 78,838 
Financial and Valuation Advisory65,410 75,855 
Revenues$415,829 $418,644 
Segment profit (1)
Corporate Finance$61,622 $91,565 
Financial Restructuring43,594 26,696 
Financial and Valuation Advisory14,899 19,034 
Total segment profit120,115 137,295 
Corporate expenses (2)
46,768 59,725 
Other (income)/expense, net(3,005)1,749 
Income before provision for income taxes$76,352 $75,821 
(1)We adjust the compensation expense for a business segment in situations where an employee residing in one business segment is performing work in another business segment where the revenues are accrued. Segment profit may vary significantly between periods depending on the levels of collaboration among the different segments.
(2)Corporate expenses represent expenses that are not allocated to individual business segments such as office of the executives, accounting, information technology, legal and compliance, marketing, and human capital.

June 30, 2023March 31, 2023
Assets by segment
Corporate Finance$1,015,124 $1,015,760 
Financial Restructuring196,289 196,289 
Financial and Valuation Advisory165,395 165,395 
Total segment assets1,376,808 1,377,444 
Corporate assets1,330,013 1,591,370 
Total assets$2,706,821 $2,968,814 

Three Months Ended June 30,
20232022
Income before provision for income taxes by geography
United States$52,402 $50,252 
International23,950 25,569 
Income before provision for income taxes$76,352 $75,821 
Three Months Ended June 30,
20232022
Revenues by geography
United States$327,736 $303,449 
International88,093 115,195 
Revenues$415,829 $418,644 

June 30, 2023March 31, 2023
Assets by geography
United States$1,785,882 $1,861,296 
International920,9391,107,518
Total assets$2,706,821 $2,968,814