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v3.19.2

Segments (Tables) | 3 Months Ended
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Jul. 31, 2019
Segment Reporting [Abstract] |
Financial Highlights by Business Segment | Financial highlights by business segment are as follows:
|  | Three Months Ended July 31, 2019 |
|  |  |  |  |  | Executive Search |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Advisory |  |  | North America |  |  | EMEA |  |  | Asia Pacific |  |  | Latin America |  |  | Subtotal |  |  | RPO & Professional Search |  |  | Corporate |  |  | Consolidated |
|  | (in thousands) |
Fee revenue |  | $ | 195,526 |  |  | $ | 111,722 |  |  | $ | 46,530 |  |  | $ | 27,362 |  |  | $ | 7,585 |  |  | $ | 193,199 |  |  | $ | 95,824 |  |  | $ | — |  |  | $ | 484,549 |
Total revenue |  | $ | 199,320 |  |  | $ | 115,446 |  |  | $ | 47,312 |  |  | $ | 27,668 |  |  | $ | 7,587 |  |  | $ | 198,013 |  |  | $ | 98,865 |  |  | $ | — |  |  | $ | 496,198 |
Net income attributable to Korn Ferry |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 42,951 |
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 699 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,826 | )
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,057 |
Income tax provision |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,453 |
Operating income (loss) |  | $ | 25,791 |  |  | $ | 30,322 |  |  | $ | 7,311 |  |  | $ | 6,993 |  |  | $ | 1,010 |  |  | $ | 45,636 |  |  | $ | 15,041 |  |  | $ | (26,134 | ) |  |  | 60,334 |
Depreciation and amortization |  |  | 8,053 |  |  |  | 901 |  |  |  | 456 |  |  |  | 346 |  |  |  | 328 |  |  |  | 2,031 |  |  |  | 992 |  |  |  | 1,701 |  |  |  | 12,777 |
Other income (loss), net |  |  | 726 |  |  |  | 1,140 |  |  |  | 12 |  |  |  | 15 |  |  |  | 57 |  |  |  | 1,224 |  |  |  | 74 |  |  |  | (198 | ) |  |  | 1,826 |
EBITDA and Adjusted EBITDA |  | $ | 34,570 |  |  | $ | 32,363 |  |  | $ | 7,779 |  |  | $ | 7,354 |  |  | $ | 1,395 |  |  | $ | 48,891 |  |  | $ | 16,107 |  |  | $ | (24,631 | ) |  | $ | 74,937 |
|  | Three Months Ended July 31, 2018 |
|  |  |  |  |  | Executive Search |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Advisory |  |  | North America |  |  | EMEA |  |  | Asia Pacific |  |  | Latin America |  |  | Subtotal |  |  | RPO & Professional Search |  |  | Corporate |  |  | Consolidated |
|  | (in thousands) |
Fee revenue |  | $ | 195,375 |  |  | $ | 112,097 |  |  | $ | 46,654 |  |  | $ | 26,295 |  |  | $ | 7,878 |  |  | $ | 192,924 |  |  | $ | 77,269 |  |  | $ | — |  |  | $ | 465,568 |
Total revenue |  | $ | 200,147 |  |  | $ | 115,757 |  |  | $ | 47,749 |  |  | $ | 26,625 |  |  | $ | 7,903 |  |  | $ | 198,034 |  |  | $ | 80,181 |  |  | $ | — |  |  | $ | 478,362 |
Net loss attributable to Korn Ferry |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (38,611 | )
Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,520 | )
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,103 |
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (16,110 | )
Operating income (loss) |  | $ | (83,079 | ) |  | $ | 26,514 |  |  | $ | 6,969 |  |  | $ | 6,641 |  |  | $ | 754 |  |  | $ | 40,878 |  |  | $ | 11,645 |  |  | $ | (24,563 | ) |  |  | (55,119 | )
Depreciation and amortization |  |  | 7,431 |  |  |  | 979 |  |  |  | 370 |  |  |  | 370 |  |  |  | 107 |  |  |  | 1,826 |  |  |  | 761 |  |  |  | 1,713 |  |  |  | 11,731 |
Other income (loss), net |  |  | 570 |  |  |  | 3,501 |  |  |  | 340 |  |  |  | 175 |  |  |  | 37 |  |  |  | 4,053 |  |  |  | 105 |  |  |  | (208 | ) |  |  | 4,520 |
EBITDA |  |  | (75,078 | ) |  |  | 30,994 |  |  |  | 7,679 |  |  |  | 7,186 |  |  |  | 898 |  |  |  | 46,757 |  |  |  | 12,511 |  |  |  | (23,058 | ) |  |  | (38,868 | )
Integration/acquisition costs |  |  | 3,027 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 80 |  |  |  | 3,107 |
Tradename write-offs |  |  | 106,555 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 106,555 |
Adjusted EBITDA |  | $ | 34,504 |  |  | $ | 30,994 |  |  | $ | 7,679 |  |  | $ | 7,186 |  |  | $ | 898 |  |  | $ | 46,757 |  |  | $ | 12,511 |  |  | $ | (22,978 | ) |  | $ | 70,794 |

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