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Segment Information
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We provide our services and products and manage our business under three reportable segments: Healthcare, Education, and Commercial, which align our business by industry.
Healthcare
Our Healthcare segment serves acute care providers, including national and regional health systems; academic health systems; community health systems; the federal health system; and public, children’s and critical access hospitals, and non-acute care providers, including physician practices and medical groups; payors; and long-term care or post-acute providers. Our healthcare-focused services and products include financial and operational performance improvement consulting, which spans revenue cycle, business operations and care delivery transformation; digital offerings, spanning technology and analytic-related services, which includes enterprise health record (“EHR”), enterprise resource planning (“ERP”) and enterprise performance management (“EPM”), customer relationship management (“CRM”), data management, artificial intelligence (“AI”) and automation, and technology managed services, and a portfolio of software products; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting.
Education
Our Education segment serves public and private colleges and universities, research institutes, not-for-profit organizations and other education-related organizations. Our education and research-focused services and products include our digital offerings,
spanning technology and analytic-related services, including student information systems, ERP and EPM, CRM, data management, AI and automation, and technology managed services and our Huron Research Suite product suite (the leading software suite designed to facilitate and improve research administration service delivery and compliance); our research-focused consulting and managed services; our strategy and operations consulting services, which span finance, accounting, operations and athletics to organization and talent strategy and student and academic strategy; and our global philanthropy consulting services.
Commercial
Our Commercial segment is focused on serving industries and organizations facing significant disruption and regulatory change by helping them adapt to rapidly changing environments and accelerate business transformation. Our Commercial professionals work primarily with six primary buyers: the chief executive officer, the chief financial officer, the chief strategy officer, the chief human resources officer, the chief operating officer, and organizational advisors, including lenders and law firms. We have a deep focus on serving organizations in the financial services, energy and utilities, industrials and manufacturing industries and the public sector while opportunistically serving commercial industries more broadly, including professional and business services, life sciences, consumer products, and retail. Our Commercial professionals use their deep industry, functional and technical expertise to deliver our digital services and software products, financial and capital advisory (special situation advisory and corporate finance advisory) consulting services, and strategy and innovation consulting services.
Our chief operating decision maker ("CODM"), who is our chief executive officer, manages the business under these three reportable segments. Our CODM uses segment operating income in the annual budgeting and quarterly forecasting process as well as on a monthly basis for evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. Our CODM does not evaluate segments using asset information.
Segment operating income consists of the revenues generated by a segment, less operating expenses that are incurred directly by the segment. Unallocated costs include corporate costs related to administrative functions that are performed in a centralized manner, as well as restructuring charges, depreciation and amortization, and interest expense that are not attributable to a particular segment. The administrative function costs include corporate office support costs, office facility costs, costs related to accounting and finance, human resources, legal, marketing, information technology, and company-wide business development functions, as well as costs related to overall corporate management. 
The tables below set forth information about our operating segments for the years ended December 31, 2024, 2023, and 2022, along with the items necessary to reconcile the segment information to the totals reported in the accompanying consolidated financial statements. We do not present financial information by geographic area because the financial results of our international operations are not significant to our consolidated financial statements.
 Year Ended December 31,
 202420232022
Healthcare:
Revenues before reimbursable expenses$756,263 $673,989 $534,999 
Reimbursable expenses21,174 22,324 16,347 
Total revenues777,437 696,313 551,346 
Operating expenses:
Direct costs489,123 452,080 360,823 
Reimbursable expenses21,174 22,332 16,463 
Selling, general and administrative expenses49,728 41,351 36,155 
Depreciation and amortization7,162 6,373 6,015 
Other segment items(1)
1,322 1,277 663 
Total segment operating expenses568,509 523,413 420,119 
Segment operating income$208,928 $172,900 $131,227 
Education:
Revenues before reimbursable expenses$474,221 $429,663 $359,835 
Reimbursable expenses9,320 9,229 5,988 
Total revenues483,541 438,892 365,823 
Operating expenses:
Direct costs337,607 308,800 257,603 
Reimbursable expenses9,320 9,311 6,083 
 Year Ended December 31,
 202420232022
Selling, general and administrative expenses25,472 21,128 18,795 
Depreciation and amortization1,912 437 492 
Other segment items(1)
709 118 3,926 
Total segment operating expenses375,020 339,794 286,899 
Segment operating income$108,521 $99,098 $78,924 
Commercial:
Revenues before reimbursable expenses$255,601 $258,408 $237,621 
Reimbursable expenses5,226 5,142 4,171 
Total revenues260,827 263,550 241,792 
Operating expenses:
Direct costs183,250 181,812 167,398 
Reimbursable expenses5,223 5,123 4,126 
Selling, general and administrative expenses20,371 20,251 18,003 
Depreciation and amortization223 210 582 
Other segment items(1)
562 1,952 1,658 
Total segment operating expenses209,629 209,348 191,767 
Segment operating income$51,198 $54,202 $50,025 
Total Huron:
Revenues before reimbursable expenses$1,486,085 $1,362,060 $1,132,455 
Reimbursable expenses35,720 36,695 26,506 
Total revenues$1,521,805 $1,398,755 $1,158,961 
Segment operating income$368,647 $326,200 $260,176 
Items not allocated at the segment level:
Unallocated corporate expenses
191,180 175,206 136,677 
Other gains, net(14,466)(444)(218)
Restructuring charges7,590 8,204 3,686 
Depreciation and amortization15,524 17,886 20,271 
Operating income168,819 125,348 99,760 
Other income (expense), net(14,803)(41,453)8,817 
Income before taxes$154,016 $83,895 $108,577 
(1)Other segment items in each segment primarily consists of restructuring charges for all periods presented.
The following tables illustrate the disaggregation of segment total revenues and segment revenues before reimbursable expenses by our two principal capabilities: i) Consulting and Managed Services and ii) Digital, and includes a reconciliation to consolidated total revenues and consolidated revenues before reimbursable expenses. We manage our business on the basis of revenues before reimbursable expenses, which we believe is the most accurate reflection of our services because it eliminates the effect of reimbursable expenses that we bill to our clients at cost.
Year Ended December 31,
Total Revenues by Capability202420232022
Healthcare:
Consulting and Managed Services$549,686 $493,263 $377,617 
Digital227,751 203,050 173,729 
Total revenues$777,437 $696,313 $551,346 
Education:
Consulting and Managed Services$245,358 $219,098 $195,204 
Digital238,183 219,794 170,619 
Total revenues$483,541 $438,892 $365,823 
Commercial:
Consulting and Managed Services$90,441 $92,182 $82,604 
Digital170,386 171,368 159,188 
Total revenues$260,827 $263,550 $241,792 
Total Huron:
Consulting and Managed Services$885,485 $804,543 $655,425 
Digital636,320 594,212 503,536 
Total revenues$1,521,805 $1,398,755 $1,158,961 
Year Ended December 31,
Revenues before Reimbursable Expenses by Capability202420232022
Healthcare:
Consulting and Managed Services$533,846 $476,726 $365,645 
Digital222,417 197,263 169,354 
Total revenues before reimbursable expenses$756,263 $673,989 $534,999 
Education:
Consulting and Managed Services$240,985 $214,971 $192,336 
Digital233,236 214,692 167,499 
Total revenues before reimbursable expenses$474,221 $429,663 $359,835 
Commercial:
Consulting and Managed Services$89,028 $90,323 $80,013 
Digital166,573 168,085 157,608 
Total revenues before reimbursable expenses$255,601 $258,408 $237,621 
Total Huron:
Consulting and Managed Services$863,859 $782,020 $637,994 
Digital622,226 580,040 494,461 
Total revenues before reimbursable expenses$1,486,085 $1,362,060 $1,132,455 
For the years ended December 31, 2024, 2023, and 2022, substantially all of our revenues were recognized over time.
During the years ended December 31, 2024, 2023, and 2022, no single client generated greater than 10% of our consolidated total revenues. At December 31, 2024 and 2023, no single client accounted for greater than 10% of our combined balance of receivables from clients, net and unbilled services, net.