Supplemental Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet Information

Condensed Consolidating Balance Sheet as of September 30, 2018



	FTI Consulting		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	366,539	$	153	$	139,175	$	—		$	505,867
Accounts receivable, net	199,360		198,410		225,627		—			623,397
Intercompany receivables	—		1,202,019		—		(1,202,019		)	—
Other current assets	28,787		23,660		24,802		—			77,249
Total current assets	594,686		1,424,242		389,604		(1,202,019		)	1,206,513
Property and equipment, net	40,220		17,040		25,216		—			82,476
Goodwill	549,948		416,053		209,928		—			1,175,929
Other intangible assets, net	15,803		9,677		11,249		—			36,729
Investments in subsidiaries	2,238,436		508,895		—		(2,747,331		)	—
Other assets	36,861		44,749		45,581		—			127,191
Total assets	$	3,475,954	$	2,420,656	$	681,578	$	(3,949,350	)	$	2,628,838
Liabilities
Intercompany payables	$	1,201,765	$	—	$	254	$	(1,202,019	)	$	—
Current portion of long-term debt, net	296,851		—		—		—			296,851
Other current liabilities	135,680		177,554		127,315		—			440,549
Total current liabilities	1,634,296		177,554		127,569		(1,202,019		)	737,400
Long-term debt, net	263,317		—		—		—			263,317
Other liabilities	226,866		15,032		34,748		—			276,646
Total liabilities	2,124,479		192,586		162,317		(1,202,019		)	1,277,363
Stockholders' equity	1,351,475		2,228,070		519,261		(2,747,331		)	1,351,475
Total liabilities and stockholders' equity	$	3,475,954	$	2,420,656	$	681,578	$	(3,949,350	)	$	2,628,838

Condensed Consolidating Balance Sheet as of December 31, 2017



	FTI Consulting		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	10,186	$	159	$	179,616	$	—		$	189,961
Accounts receivable, net	155,124		156,859		210,895		—			522,878
Intercompany receivables	—		1,093,211		32,695		(1,125,906		)	—
Other current assets	31,933		21,840		27,567		—			81,340
Total current assets	197,243		1,272,069		450,773		(1,125,906		)	794,179
Property and equipment, net	39,137		13,572		22,366		—			75,075
Goodwill	570,876		416,053		217,874		—			1,204,803
Other intangible assets, net	18,426		11,251		29,441		(14,968		)	44,150
Investments in subsidiaries	2,175,362		566,911		—		(2,742,273		)	—
Other assets	34,454		60,566		44,014		—			139,034
Total assets	$	3,035,498	$	2,340,422	$	764,468	$	(3,883,147	)	$	2,257,241
Liabilities
Intercompany payables	$	1,125,906	$	—	$	—	$	(1,125,906	)	$	—
Other current liabilities	127,295		144,474		138,559		—			410,328
Total current liabilities	1,253,201		144,474		138,559		(1,125,906		)	410,328
Long-term debt, net	396,284		—		—		—			396,284
Other liabilities	194,042		14,753		49,863		—			258,658
Total liabilities	1,843,527		159,227		188,422		(1,125,906		)	1,065,270
Stockholders' equity	1,191,971		2,181,195		576,046		(2,757,241		)	1,191,971
Total liabilities and stockholders' equity	$	3,035,498	$	2,340,422	$	764,468	$	(3,883,147	)	$	2,257,241

Condensed Consolidating Statement of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended September 30, 2018



	FTI Consulting			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	177,547		$	169,236	$	167,855		$	(1,626	)	$	513,012
Operating expenses
Direct cost of revenues	113,645			118,795		105,639			(1,602		)	336,477
Selling, general and administrative expenses	56,586			28,949		31,937			(24		)	117,448
Amortization of other intangible assets	874			267		1,587			(753		)	1,975
	171,105			148,011		139,163			(2,379		)	455,900
Operating income	6,442			21,225		28,692			753			57,112
Other income (expense)	(26,239		)	17,522		6,287			9,615			7,185
Income before income tax provision	(19,797		)	38,747		34,979			10,368			64,297
Income tax provision (benefit)	(2,439		)	15,057		7,346			—			19,964
Equity in net earnings of subsidiaries	61,691			17,755		—			(79,446		)	—
Net income	$	44,333		$	41,445	$	27,633		$	(69,078	)	$	44,333
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax expense of $373	$	—		$	—	$	(4,180	)	$	—		$	(4,180	)
Other comprehensive loss, net of tax	—			—		(4,180		)	—			(4,180		)
Comprehensive income	$	44,333		$	41,445	$	23,453		$	(69,078	)	$	40,153

Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended September 30, 2017



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	163,311		$	136,827		$	151,197	$	(2,373	)	$	448,962
Operating expenses
Direct cost of revenues	105,857			95,432			95,874		(2,312		)	294,851
Selling, general and administrative expenses	44,781			30,532			28,909		(61		)	104,161
Amortization of other intangible assets	1,304			541			1,795		(758		)	2,882
	151,942			126,505			126,578		(3,131		)	401,894
Operating income	11,369			10,322			24,619		758			47,068
Other income (expense)	(5,912		)	(4,548		)	4,803		—			(5,657		)
Income before income tax provision	5,457			5,774			29,422		758			41,411
Income tax provision	4,438			2,260			2,499		—			9,197
Equity in net earnings of subsidiaries	31,195			21,731			—		(52,926		)	—
Net income	$	32,214		$	25,245		$	26,923	$	(52,168	)	$	32,214
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net of tax expense of $0	$	—		$	—		$	11,234	$	—		$	11,234
Other comprehensive income, net of tax	—			—			11,234		—			11,234
Comprehensive income	$	32,214		$	25,245		$	38,157	$	(52,168	)	$	43,448

Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended September 30, 2018



	FTI Consulting			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	550,437		$	485,653	$	492,130		$	(5,336	)	$	1,522,884
Operating expenses
Direct cost of revenues	344,856			338,858		309,570			(5,372		)	987,912
Selling, general and administrative expenses	160,739			88,423		98,311			—			347,473
Amortization of other intangible assets	2,622			994		5,014			(2,333		)	6,297
	508,217			428,275		412,895			(7,705		)	1,341,682
Operating income	42,220			57,378		79,235			2,369			181,202
Other income (expense)	(18,488		)	16,641		10,264			(13,385		)	(4,968		)
Income before income tax provision	23,732			74,019		89,499			(11,016		)	176,234
Income tax provision	4,478			26,074		18,795			—			49,347
Equity in net earnings of subsidiaries	107,633			85,322		—			(192,955		)	—
Net income	$	126,887		$	133,267	$	70,704		$	(203,971	)	$	126,887
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net of tax expense of $373	$	—		$	—	$	(17,417	)	$	—		$	(17,417	)
Other comprehensive loss, net of tax	—			—		(17,417		)	—			(17,417		)
Comprehensive income	$	126,887		$	133,267	$	53,287		$	(203,971	)	$	109,470

Condensed Consolidating Statement of Comprehensive Income for the Nine Months Ended September 30, 2017



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues	$	478,767		$	459,569		$	408,780	$	(7,095	)	$	1,340,021
Operating expenses
Direct cost of revenues	325,560			321,606			267,742		(6,914		)	907,994
Selling, general and administrative expenses	136,487			93,641			90,023		(181		)	319,970
Special charges	13,592			7,306			9,176		—			30,074
Amortization of other intangible assets	3,089			1,621			5,306		(2,219		)	7,797
	478,728			424,174			372,247		(9,314		)	1,265,835
Operating income	39			35,395			36,533		2,219			74,186
Other income (expense)	(16,525		)	(5,046		)	6,060		—			(15,511		)
Income (loss) before income tax provision	(16,486		)	30,349			42,593		2,219			58,675
Income tax provision (benefit)	(8,179		)	17,397			8,383		—			17,601
Equity in net earnings of subsidiaries	49,381			26,442			—		(75,823		)	—
Net income	$	41,074		$	39,394		$	34,210	$	(73,604	)	$	41,074
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net of tax expense of $0	$	—		$	—		$	28,778	$	—		$	28,778
Other comprehensive income, net of tax	—			—			28,778		—			28,778
Comprehensive income	$	41,074		$	39,394		$	62,988	$	(73,604	)	$	69,852

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows for the Nine Months Ended September 30, 2018



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Operating activities
Net cash provided by (used in) operating activities	$	30,078		$	146,956		$	(90,762	)	$	86,272
Investing activities
Proceeds from sale of business	50,283			—			—			50,283
Purchases of property and equipment	(10,187		)	(8,311		)	(9,343		)	(27,841		)
Other	91			—			650			741
Net cash provided by (used in) investing activities	40,187			(8,311		)	(8,693		)	23,183
Financing activities
Repayments under revolving line of credit, net	(100,000		)	—			—			(100,000		)
Proceeds from issuance of convertible notes	316,250			—			—			316,250
Payments of debt issue costs	(8,048		)	—			—			(8,048		)
Deposits	—			—			2,327			2,327
Purchase and retirement of common stock	(29,220		)	—			—			(29,220		)
Net issuance of common stock under equity compensation plans	31,241			—			—			31,241
Payments for acquisition-related contingent consideration	(500		)	(2,529		)	—			(3,029		)
Intercompany transfers	76,365			(136,122		)	59,757			—
Net cash provided by (used in) financing activities	286,088			(138,651		)	62,084			209,521
Effects of exchange rate changes on cash and cash equivalents	—			—			(3,070		)	(3,070		)
Net increase (decrease) in cash and cash equivalents	356,353			(6		)	(40,441		)	315,906
Cash and cash equivalents, beginning of year	10,186			159			179,616			189,961
Cash and cash equivalents, end of year	$	366,539		$	153		$	139,175		$	505,867

Condensed Consolidating Statement of Cash Flows for the Nine Months Ended September 30, 2017



	FTI Consulting			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Operating activities
Net cash provided by (used in) operating activities	$	(6,155	)	$	40,052		$	(9,864	)	$	24,033
Investing activities
Payments for acquisition of businesses, net of cash received	(8,929		)	—			—			(8,929		)
Purchases of property and equipment	(5,943		)	(9,762		)	(4,316		)	(20,021		)
Other	74			—			—			74
Net cash used in investing activities	(14,798		)	(9,762		)	(4,316		)	(28,876		)
Financing activities
Borrowings under revolving line of credit, net	95,000			—			—			95,000
Deposits	—			—			3,585			3,585
Purchase and retirement of common stock	(155,285		)	—			—			(155,285		)
Net issuance of common stock under equity compensation plans	(2,354		)	—			—			(2,354		)
Payments for acquisition-related contingent consideration	(79		)	—			—			(79		)
Intercompany transfers	56,955			(30,287		)	(26,668		)	—
Net cash used in financing activities	(5,763		)	(30,287		)	(23,083		)	(59,133		)
Effects of exchange rate changes on cash and cash equivalents	—			—			5,779			5,779
Net increase (decrease) in cash and cash equivalents	(26,716		)	3			(31,484		)	(58,197		)
Cash and cash equivalents, beginning of year	47,420			156			168,582			216,158
Cash and cash equivalents, end of year	$	20,704		$	159		$	137,098		$	157,961