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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of 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:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues |  |  |  |  |  |  |
Corporate Finance (1) | $ | 347,971 |  |  | $ | 317,912 |  |  | $ | 713,981 |  |  | $ | 633,564 |
FLC (1) | 169,496 |  |  | 164,760 |  |  | 345,570 |  |  | 322,499 |
Economic Consulting | 230,873 |  |  | 201,822 |  |  | 435,421 |  |  | 371,417 |
Technology | 115,875 |  |  | 97,444 |  |  | 216,588 |  |  | 188,062 |
Strategic Communications | 84,941 |  |  | 82,653 |  |  | 166,149 |  |  | 155,755 |
Total revenues | $ | 949,156 |  |  | $ | 864,591 |  |  | $ | 1,877,709 |  |  | $ | 1,671,297 |
Adjusted Segment EBITDA |  |  |  |  |  |  |
Corporate Finance (1) | $ | 66,467 |  |  | $ | 45,510 |  |  | $ | 141,692 |  |  | $ | 97,357 |
FLC (1) | 14,994 |  |  | 25,598 |  |  | 48,703 |  |  | 47,382 |
Economic Consulting | 44,296 |  |  | 35,523 |  |  | 58,446 |  |  | 49,716 |
Technology | 20,930 |  |  | 20,087 |  |  | 35,511 |  |  | 35,453 |
Strategic Communications | 11,611 |  |  | 12,263 |  |  | 24,037 |  |  | 21,819 |
Total Adjusted Segment EBITDA | $ | 158,298 |  |  | $ | 138,981 |  |  | $ | 308,389 |  |  | $ | 251,727 |
(1)Effective July 1, 2023, prior period segment information for the Corporate Finance and FLC segments has been recast in this Quarterly Report on Form 10-Q to include the reclassification of a portion of the Company’s health solutions practice in the FLC segment to our realigned business transformation practice within our Corporate Finance segment.
Schedule of 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:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Net income | $ | 83,947 |  |  | $ | 62,395 |  |  | $ | 163,912 |  |  | $ | 109,942 |
Add back: |  |  |  |  |  |  |
Income tax provision | 18,735 |  |  | 22,708 |  |  | 38,265 |  |  | 37,682 |
Interest income and other | (1,909) |  |  | 584 |  |  | (3,490) |  |  | 1,926 |
Interest expense | 3,319 |  |  | 3,022 |  |  | 5,038 |  |  | 5,961 |
Unallocated corporate expenses | 42,884 |  |  | 39,026 |  |  | 82,415 |  |  | 73,761 |
Segment depreciation expense | 10,242 |  |  | 9,829 |  |  | 20,153 |  |  | 18,856 |
Amortization of intangible assets | 1,080 |  |  | 1,417 |  |  | 2,096 |  |  | 3,599 |
Total Adjusted Segment EBITDA | $ | 158,298 |  |  | $ | 138,981 |  |  | $ | 308,389 |  |  | $ | 251,727 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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