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Business Segments (Tables)

12 Months Ended

Apr. 30, 2018

Financial Highlights by Business Segment

Financial highlights by business segment are as follows:

		Year Ended April 30, 2018
		Executive Search
		North America				EMEA				Asia Pacific				Latin America				Subtotal				Hay Group				Futurestep				Corporate				Consolidated
		(in thousands)
Fee revenue		$	408,098			$	173,725			$	96,595			$	30,624			$	709,042			$	785,013			$	273,162			$	—			$	1,767,217
Total revenue		$	421,260			$	177,234			$	98,062			$	30,717			$	727,273			$	801,005			$	291,241			$	—			$	1,819,519
Net income attributable to Korn/Ferry International																																		$	133,779
Net income attributable to noncontrolling interest																																			2,118
Other income, net																																			(11,525	)
Interest expense, net																																			9,676
Equity in earnings of unconsolidated subsidiaries, net																																			(297	)
Income tax provision																																			70,133
Operating income (loss)		$	100,037			$	26,768			$	18,425			$	4,022			$	149,252			$	100,939			$	39,363			$	(85,670	)		$	203,884
Depreciation and amortization			3,930				1,689				1,408				455				7,482				31,527				3,054				6,525				48,588
Other income, net			845				168				373				181				1,567				599				152				9,207				11,525
Equity in earnings of unconsolidated subsidiaries, net			297				—				—				—				297				—				—				—				297
EBITDA			105,109				28,625				20,206				4,658				158,598				133,065				42,569				(69,938	)			264,294
Restructuring charges (recoveries), net			—				—				313				—				313				(241	)			6				—				78
Integration/acquisition cost			—				—				—				—				—				9,151				—				279				9,430
Adjusted EBITDA		$	105,109			$	28,625			$	20,519			$	4,658			$	158,911			$	141,975			$	42,575			$	(69,659	)		$	273,802
Identifiable assets (1)		$	411,347			$	198,815			$	98,599			$	23,832			$	732,593			$	1,092,474			$	144,160			$	318,687			$	2,287,914
Long-lived assets (1)		$	22,813			$	11,018			$	10,834			$	3,203			$	47,868			$	42,605			$	6,390			$	23,038			$	119,901
Goodwill (1)		$	47,757			$	47,501			$	972			$	—			$	96,230			$	458,169			$	29,823			$	—			$	584,222

		Year Ended April 30, 2017
		Executive Search
		North America				EMEA				Asia Pacific				Latin America				Subtotal				Hay Group				Futurestep				Corporate				Consolidated
		(in thousands)
Fee revenue		$	356,625			$	146,506			$	80,169			$	34,376			$	617,676			$	724,186			$	223,659			$	—			$	1,565,521
Deferred revenue adjustment due to acquisition			—				—				—				—				—				3,535				—				—				3,535
Adjusted fee revenue		$	356,625			$	146,506			$	80,169			$	34,376			$	617,676			$	727,721			$	223,659			$	—			$	1,569,056
Total revenue		$	369,803			$	150,113			$	81,744			$	34,533			$	636,193			$	741,533			$	243,943			$	—			$	1,621,669
Net income attributable to Korn/Ferry International																																		$	84,181
Net income attributable to noncontrolling interest																																			3,057
Other income, net																																			(11,820	)
Interest expense, net																																			10,251
Equity in earnings of unconsolidated subsidiaries, net																																			(333	)
Income tax provision																																			29,104
Operating income (loss)		$	81,550			$	27,854			$	8,580			$	6,268			$	124,252			$	47,302			$	29,986			$	(87,100	)		$	114,440
Depreciation and amortization			3,812				1,030				1,060				483				6,385				32,262				2,818				5,795				47,260
Other income (loss), net			844				(15	)			300				684				1,813				341				(91	)			9,757				11,820
Equity in earnings of unconsolidated subsidiaries, net			333				—				—				—				333				—				—				—				333
EBITDA			86,539				28,869				9,940				7,435				132,783				79,905				32,713				(71,548	)			173,853
Restructuring charges, net			1,719				629				1,495				773				4,616				29,663				101				220				34,600
Integration/acquisition cost			—				—				—				—				—				14,440				—				7,939				22,379
Deferred revenue adjustment due to acquisition			—				—				—				—				—				3,535				—				—				3,535
Separation costs			—				—				—				—				—				609				—				—				609
Adjusted EBITDA		$	88,258			$	29,498			$	11,435			$	8,208			$	137,399			$	128,152			$	32,814			$	(63,389	)		$	234,976
Identifiable assets (1)		$	340,069			$	158,927			$	87,845			$	26,897			$	613,738			$	1,057,611			$	116,717			$	274,832			$	2,062,898
Long-lived assets (1)		$	23,746			$	11,089			$	8,371			$	3,262			$	46,468			$	37,846			$	6,693			$	18,560			$	109,567
Goodwill (1)		$	46,201			$	44,976			$	972			$	—			$	92,149			$	457,241			$	27,475			$	—			$	576,865

		Year Ended April 30, 2016
		Executive Search
		North America				EMEA				Asia Pacific				Latin America				Subtotal				Hay Group				Futurestep				Corporate				Consolidated
		(in thousands)
Fee revenue		$	371,345			$	144,319			$	80,506			$	26,744			$	622,914			$	471,145			$	198,053			$	—			$	1,292,112
Deferred revenue adjustment due to acquisition			—				—				—				—				—				10,967				—				—				10,967
Adjusted fee revenue		$	371,345			$	144,319			$	80,506			$	26,744			$	622,914			$	482,112			$	198,053			$	—			$	1,303,079
Total revenue		$	386,256			$	148,285			$	83,206			$	26,781			$	644,528			$	488,217			$	213,969			$	—			$	1,346,714
Net income attributable to Korn/Ferry International																																		$	30,913
Net income attributable to noncontrolling interest																																			520
Other loss, net																																			4,167
Interest income, net																																			(237	)
Equity in earnings of unconsolidated subsidiaries, net																																			(1,631	)
Income tax provision																																			18,960
Operating income (loss)		$	100,381			$	20,607			$	12,572			$	(1,854	)		$	131,706			$	(3,415	)		$	26,702			$	(102,301	)		$	52,692
Depreciation and amortization			3,267				1,029				941				312				5,549				21,854				2,386				6,431				36,220
Other (loss) income, net			(147	)			433				21				312				619				(868	)			364				(4,282	)			(4,167	)
Equity in earnings of unconsolidated subsidiaries, net			437				—				—				—				437				—				—				1,194				1,631
EBITDA			103,938				22,069				13,534				(1,230	)			138,311				17,571				29,452				(98,958	)			86,376
Restructuring charges, net			499				5,807				577				322				7,205				25,682				49				77				33,013
Integration/acquisition costs			—				—				—				—				—				17,607				—				27,802				45,409
Venezuelan foreign currency loss			—				—				—				6,635				6,635				7,085				—				—				13,720
Deferred revenue adjustment due to acquisition			—				—				—				—				—				10,967				—				—				10,967
Separation costs			—				—				—				—				—				—				—				744				744
Adjusted EBITDA		$	104,437			$	27,876			$	14,111			$	5,727			$	152,151			$	78,912			$	29,501			$	(70,335	)		$	190,229
Identifiable assets (1)		$	227,228			$	150,516			$	86,394			$	24,273			$	488,411			$	1,005,457			$	104,396			$	300,336			$	1,898,600
Long-lived assets (1)		$	19,044			$	4,817			$	3,708			$	1,479			$	29,048			$	42,974			$	4,635			$	18,779			$	95,436
Goodwill (1)		$	48,320			$	46,193			$	972			$	—			$	95,485			$	465,937			$	28,650			$	—			$	590,072

(1) As of the end of the fiscal year.

Fee Revenue Classified by Country

Fee revenue classified by country in which the Company derives revenues are as follows:

		Year Ended April 30,
		2018				2017				2016
		(in thousands)
U.S.		$	778,470			$	728,871			$	669,585
Other countries			988,747				836,650				622,527
Total fee revenue		$	1,767,217			$	1,565,521			$	1,292,112

Long-Lived Assets, Excluding Financial Instruments and Tax Assets, Classified by Controlling Countries over Ten Percent

Long-lived assets, excluding financial instruments and tax assets, classified by controlling country are as follows:

		Year Ended April 30,
		2018				2017				2016
		(in thousands)
U.S. (1)		$	80,424			$	70,949			$	64,525
Other countries			39,477				38,618				30,911
Total long-lived assets		$	119,901			$	109,567			$	95,436

(1) Includes Corporate long-lived assets

X

- Definition

Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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X

- Definition

Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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X

- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

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