Financial highlights by business segment are as follows:


	Three Months Ended October 31, 2016
	Executive Search
	North America			EMEA			Asia Pacific			Latin America		Subtotal			Hay Group			Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	92,732		$	34,779		$	19,470		$	9,247	$	156,228		$	188,842		$	56,847	$	—		$	401,917
Total revenue	$	95,902		$	35,507		$	19,929		$	9,296	$	160,634		$	192,352		$	61,968	$	—		$	414,954
Net income attributable to Korn/Ferry International																							$	30,152
Net income attributable to noncontrolling interest																								904
Other loss, net																								879
Interest expense, net																								2,736
Equity in earnings of unconsolidated subsidiaries, net																								(29	)
Income tax provision																								11,906

Operating income (loss)	$	26,272		$	6,847		$	2,028		$	2,284	$	37,431		$	22,943		$	7,787	$	(21,613	)	$	46,548
Depreciation and amortization		990			229			264			174		1,657			8,025			669		1,401			11,752
Other (loss) income, net		(92	)		(80	)		24			24		(124	)		(11	)		—		(744	)		(879	)
Equity in earnings of unconsolidated subsidiaries, net		29			—			—			—		29			—			—		—			29

EBITDA		27,199			6,996			2,316			2,482		38,993			30,957			8,456		(20,956	)		57,450
Integration/acquisition cost		—			—			—			—		—			4,365			—		1,455			5,820

Adjusted EBITDA	$	27,199		$	6,996		$	2,316		$	2,482	$	38,993		$	35,322		$	8,456	$	(19,501	)	$	63,270


	Three Months Ended October 31, 2015
	Executive Search
	North America			EMEA			Asia Pacific			Latin America		Subtotal			Hay Group			Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	92,788		$	36,570		$	20,998		$	6,116	$	156,472		$	73,602		$	50,526	$	—		$	280,600
Total revenue	$	96,198		$	37,509		$	21,617		$	6,118	$	161,442		$	75,991		$	53,906	$	—		$	291,339
Net income attributable to Korn/Ferry International																							$	17,971
Net income attributable to noncontrolling interest																								—
Other loss, net																								2,646
Interest expense, net																								544
Equity in earnings of unconsolidated subsidiaries, net																								(540	)
Income tax provision																								8,392

Operating income (loss)	$	27,422		$	6,929		$	3,907		$	970	$	39,228		$	7,778		$	6,896	$	(24,889	)	$	29,013
Depreciation and amortization		832			232			223			73		1,360			3,588			578		1,654			7,180
Other (loss) income, net		(127	)		7			(6	)		33		(93	)		(17	)		8		(2,544	)		(2,646	)
Equity in earnings of unconsolidated subsidiaries, net		140			—			—			—		140			—			—		400			540

EBITDA		28,267			7,168			4,124			1,076		40,635			11,349			7,482		(25,379	)		34,087
Integration/acquisition cost		—			—			—			—		—			3,310			—		8,684			11,994

Adjusted EBITDA	$	28,267		$	7,168		$	4,124		$	1,076	$	40,635		$	14,659		$	7,482	$	(16,695	)	$	46,081


	Six Months Ended October 31, 2016
	Executive Search
	North America			EMEA			Asia Pacific		Latin America		Subtotal		Hay Group			Futurestep			Corporate			Consolidated
	(in thousands)
Fee revenue	$	174,534		$	70,149		$	39,096	$	18,810	$	302,589	$	363,424		$	111,525		$	—		$	777,538
Deferred revenue adjustment due to acquisition		—			—			—		—		—		3,535			—			—			3,535

Adjusted fee revenue	$	174,534		$	70,149		$	39,096	$	18,810	$	302,589	$	366,959		$	111,525		$	—		$	781,073

Total revenue	$	181,327		$	71,756		$	40,109	$	18,910	$	312,102	$	373,860		$	121,925		$	—		$	807,887
Net income attributable to Korn/Ferry International																							33,360
Net income attributable to noncontrolling interest																							1,764
Other income, net																							(3,380	)
Interest expense, net																							5,797
Equity in earnings of unconsolidated subsidiaries, net																							(108	)
Income tax provision																							13,631

Operating income (loss)	$	42,740		$	12,874		$	4,130	$	4,614	$	64,358	$	15,200		$	15,300		$	(43,794	)	$	51,064
Depreciation and amortization		1,820			440			489		288		3,037		16,041			1,292			2,826			23,196
Other income (loss), net		196			(56	)		111		97		348		224			(2	)		2,810			3,380
Equity in earnings of unconsolidated subsidiaries, net		108			—			—		—		108		—			—			—			108

EBITDA		44,864			13,258			4,730		4,999		67,851		31,465			16,590			(38,158	)		77,748
Restructuring charges, net		1,706			128			622		360		2,816		21,488			—			216			24,520
Integration/acquisition cost		—			—			—		—		—		8,629			—			5,218			13,847
Deferred revenue adjustment due to acquisition		—			—			—		—		—		3,535			—			—			3,535

Adjusted EBITDA	$	46,570		$	13,386		$	5,352	$	5,359	$	70,667	$	65,117		$	16,590		$	(32,724	)	$	119,650


	Six Months Ended October 31, 2015
	Executive Search
	North America			EMEA			Asia Pacific		Latin America		Subtotal		Hay Group			Futurestep			Corporate			Consolidated
	(in thousands)
Fee revenue	$	183,147		$	72,660		$	40,213	$	12,542	$	308,562	$	142,842		$	96,590		$	—		$	547,994
Total revenue	$	190,597		$	74,680		$	41,607	$	12,550	$	319,434	$	147,432		$	103,808		$	—		$	570,674
Net income attributable to Korn/Ferry International																						$	41,053
Net income attributable to noncontrolling interest																							—
Other loss, net																							2,720
Interest expense, net																							843
Equity in earnings of unconsolidated subsidiaries, net																							(1,265	)
Income tax provision																							18,566

Operating income (loss)	$	51,567		$	13,205		$	6,893	$	2,478	$	74,143	$	15,273		$	13,085		$	(40,584	)	$	61,917
Depreciation and amortization		1,659			597			469		151		2,876		7,336			1,163			3,228			14,603
Other (loss) income, net		(95	)		150			12		272		339		(880	)		8			(2,187	)		(2,720	)
Equity in earnings of unconsolidated subsidiaries, net		226			—			—		—		226		—			—			1,039			1,265

EBITDA		53,357			13,952			7,374		2,901		77,584		21,729			14,256			(38,504	)		75,065
Integration/acquisition cost		—			—			—		—		—		3,639			—			9,029			12,668

Adjusted EBITDA	$	53,357		$	13,952		$	7,374	$	2,901	$	77,584	$	25,368		$	14,256		$	(29,475	)	$	87,733