Financial highlights by business segment are as follows:


	Three Months Ended October 31, 2017
	Executive Search
	North America		EMEA		Asia Pacific		Latin America		Subtotal		Hay Group			Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	101,544	$	41,346	$	25,912	$	7,964	$	176,766	$	199,953		$	66,299	$	—		$	443,018
Total revenue	$	104,329	$	42,073	$	26,187	$	7,994	$	180,583	$	203,836		$	71,049	$	—		$	455,468

Net income attributable to Korn/Ferry International																			$	36,331
Net income attributable to noncontrolling interest																				401
Other income, net																				(3,626	)
Interest expense, net																				2,579
Equity in earnings of unconsolidated subsidiaries, net																				(60	)
Income tax provision																				15,619

Operating income (loss)	$	22,945	$	6,345	$	4,381	$	1,527	$	35,198	$	26,370		$	9,409	$	(19,733	)		51,244
Depreciation and amortization		984		459		371		111		1,925		8,143			784		1,595			12,447
Other income, net		290		43		94		39		466		57			—		3,103			3,626
Equity in earnings of unconsolidated subsidiaries, net		60		—		—		—		60		—			—		—			60

EBITDA		24,279		6,847		4,846		1,677		37,649		34,570			10,193		(15,035	)		67,377
Restructuring charges (recoveries), net		—		—		273		—		273		(481	)		6		—			(202	)
Integration/acquisition costs		—		—		—		—		—		2,313			—		80			2,393

Adjusted EBITDA	$	24,279	$	6,847	$	5,119	$	1,677	$	37,922	$	36,402		$	10,199	$	(14,955	)	$	69,568


	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 costs		—			—			—		—		—			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


	Six Months Ended October 31, 2017
	Executive Search
	North America			EMEA			Asia Pacific		Latin America		Subtotal			Hay Group			Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	193,377		$	81,467		$	47,490	$	15,623	$	337,957		$	379,406		$	126,909	$	—		$	844,272
Total revenue	$	199,534		$	83,131		$	48,067	$	15,658	$	346,390		$	387,132		$	136,863	$	—		$	870,385

Net income attributable to Korn/Ferry International																						$	65,372
Net income attributable to noncontrolling interest																							789
Other income, net																							(7,158	)
Interest expense, net																							5,239
Equity in earnings of unconsolidated subsidiaries, net																							(90	)
Income tax provision																							27,829

Operating income (loss)	$	44,940		$	13,020		$	7,522	$	2,553	$	68,035		$	45,453		$	17,646	$	(39,153	)		91,981
Depreciation and amortization		1,933			887			691		218		3,729			16,228			1,580		3,119			24,656
Other income, net		572			99			199		59		929			89			8		6,132			7,158
Equity in earnings of unconsolidated subsidiaries, net		90			—			—		—		90			—			—		—			90

EBITDA		47,535			14,006			8,412		2,830		72,783			61,770			19,234		(29,902	)		123,885
Restructuring charges (recoveries), net		—			—			313		—		313			(241	)		6		—			78
Integration/acquisition costs		—			—			—		—		—			4,862			—		119			4,981

Adjusted EBITDA	$	47,535		$	14,006		$	8,725	$	2,830	$	73,096		$	66,391		$	19,240	$	(29,783	)	$	128,944


	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 costs		—		—			—		—		—		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