XML 34 R24.htm IDEA: XBRL DOCUMENT v3.23.3
SEGMENT AND GEOGRAPHICAL INFORMATION
 6 Months Ended
Sep. 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 September 30,Six Months Ended September 30,
2023202220232022
Revenues by segment
Corporate Finance$281,684 $315,016 $508,735 $578,967 
Financial Restructuring114,670 97,694 238,038 176,532 
Financial and Valuation Advisory70,635 76,827 136,045 152,682 
Revenues$466,989 $489,537 $882,818 $908,181 
Segment profit (1)
Corporate Finance$90,517 $93,794 $152,139 $185,359 
Financial Restructuring32,499 17,563 76,093 44,259 
Financial and Valuation Advisory19,593 26,169 34,492 45,203 
Total segment profit142,609 137,526 262,724 274,821 
Corporate expenses (2)
52,332 48,155 99,100 107,880 
Other (income)/expense, net(3,296)5,104 (6,301)6,853 
Income before provision for income taxes$93,573 $84,267 $169,925 $160,088 
(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.

September 30, 2023March 31, 2023
Assets by segment
Corporate Finance$1,006,417 $1,015,760 
Financial Restructuring171,537 196,289 
Financial and Valuation Advisory175,106 165,395 
Total segment assets1,353,060 1,377,444 
Corporate assets1,428,493 1,591,370 
Total assets$2,781,553 $2,968,814 

Three Months Ended September 30,Six Months Ended September 30,
2023202220232022
Income before provision for income taxes by geography
United States$61,280 $63,771 $113,682 $114,023 
International32,293 20,496 56,243 46,065 
Income before provision for income taxes$93,573 $84,267 $169,925 $160,088 
Three Months Ended September 30,Six Months Ended September 30,
2023202220232022
Revenues by geography
United States$328,958 $377,608 $656,694 $681,057 
International138,031 111,929 226,124 227,124 
Revenues$466,989 $489,537 $882,818 $908,181 

September 30, 2023March 31, 2023
Assets by geography
United States$1,795,032 $1,861,296 
International986,5211,107,518
Total assets$2,781,553 $2,968,814