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Segment Reporting
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We manage our business in five reportable segments: Corporate Finance, FLC, Economic Consulting, Technology and Strategic Communications.
Our Corporate Finance segment focuses on the strategic, operational, financial, transactional and capital needs of our clients around the world. Our clients include companies, boards of directors, investors, private equity sponsors, lenders, and other financing sources and creditor groups, as well as other parties-in-interest. We deliver a wide range of services centered around three core offerings: business transformation, transactions and turnaround & restructuring.
Our FLC segment provides law firms, companies, government entities, private equity firms and other interested parties with a multidisciplinary and independent range of services in risk and investigations and disputes, including a focus on highly regulated industries such as our construction & environmental solutions and health solutions services. These services are supported by our data & analytics solutions, which help our clients analyze large, disparate sets of data related to their business operations and support our clients during regulatory inquiries and commercial disputes. We deliver a wide range of services centered around five core offerings: construction & environmental solutions, data & analytics, disputes, health solutions and risk and investigations.
Our Economic Consulting segment, including subsidiary Compass Lexecon LLC, provides law firms, companies, government entities and other interested parties with analyses of complex economic issues for use in international arbitration, legal and regulatory proceedings, and strategic decision making and public policy debates around the world. We deliver a wide range of services centered around three core offerings: antitrust & competition economics, financial economics and international arbitration.    
Our Technology segment provides companies, law firms, private equity firms and government entities with a comprehensive global portfolio of consulting and services to address legal and regulatory risk, including e-discovery, information governance, privacy and security and corporate legal operations solutions. We deliver a full spectrum of services centered around three core offerings: corporate legal operations, e-discovery services and expertise, and information governance, privacy & security services.
Our Strategic Communications segment develops and executes communications strategies to help management teams, boards of directors, law firms, governments and regulators manage change and mitigate risk surrounding transformational and disruptive events, including transactions, investigations, disputes, crises, regulation and legislation. We deliver a wide range of services centered around three core offerings: corporate reputation, financial communications and public affairs.
We evaluate the performance of our operating segments based on Adjusted Segment EBITDA, a GAAP financial measure. We define Adjusted Segment EBITDA as a segment’s share of consolidated operating income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash.
The table below presents revenues and Adjusted Segment EBITDA for our reportable segments:
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Revenues    
Corporate Finance$277,067 $230,971 $530,396 $457,174 
FLC164,248 150,746 318,144 301,567 
Economic Consulting164,041 183,306 330,018 352,579 
Technology77,782 78,646 158,266 158,105 
Strategic Communications71,854 67,817 141,788 128,338 
Total revenues$754,992 $711,486 $1,478,612 $1,397,763 
Adjusted Segment EBITDA    
Corporate Finance$54,950 $40,174 $108,490 $77,613 
FLC16,707 18,002 33,964 47,434 
Economic Consulting21,646 30,699 42,841 57,278 
Technology8,365 18,518 21,728 40,116 
Strategic Communications11,472 13,501 27,185 23,899 
Total Adjusted Segment EBITDA$113,140 $120,894 $234,208 $246,340 
The table below reconciles net income to Total Adjusted Segment EBITDA:
 Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Net income$51,428 $62,782 $110,749 $127,278 
Add back:  
Income tax provision13,353 14,992 30,320 35,239 
Interest income and other(2,994)912 (2,647)(122)
Interest expense2,448 5,294 5,090 10,091 
Unallocated corporate expenses37,716 29,357 69,055 56,067 
Segment depreciation expense8,452 7,834 16,636 15,264 
Amortization of intangible assets2,737 2,853 5,005 5,653 
Remeasurement of acquisition-related contingent consideration— (3,130)— (3,130)
Total Adjusted Segment EBITDA$113,140 $120,894 $234,208 $246,340