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Segment Information And Enterprise Reporting
 12 Months Ended
May 28, 2022
Segment Information And Enterprise Reporting [Abstract]  
Segment Information And Enterprise Reporting 19. Segment Information and Enterprise Reporting

As discussed in Note 2 — Summary of Significant Accounting Policies, the Company revised its historical one segment position and identified the following new operating segments effective in the second quarter of fiscal 2021 to align with changes made in its internal management structure and its reporting structure of financial information used to assess performance and allocate resources: RGP, taskforce, and Sitrick. RGP is the Company’s only reportable segment. taskforce and Sitrick do not individually meet the quantitative thresholds to qualify as reportable segments. Therefore, they are combined and disclosed as Other Segments.

The tables below reflect the operating results of the Company’s segments consistent with the management and performance measurement system utilized by the Company. Fiscal 2020 results were recast to reflect the impact of the preceding segment changes. Performance measurement is based on segment Adjusted EBITDA. Adjusted EBITDA is defined as net income before amortization expense, depreciation expense, interest and income taxes plus stock-based compensation expense, restructuring costs, technology transformation costs, and plus or minus contingent consideration adjustments. Adjusted EBITDA at the segment level excludes certain shared corporate administrative costs that are not practical to allocate. The Company’s CODM does not evaluate segments using asset information.

 

For the Years Ended

May 28,

May 29,

May 30,

(Amounts in thousands)

2022

2021

2020

Revenue:

RGP

$

764,350

$

587,620

$

662,475

Other Segments

40,668

41,896

40,878

Total revenue

$

805,018

$

629,516

$

703,353

Adjusted EBITDA:

RGP

$

134,187

$

77,589

$

87,836

Other Segments

3,527

3,580

2,601

Reconciling items (1)

(34,583)

(28,375)

(30,551)

Total Adjusted EBITDA (2)

$

103,131

$

52,794

$

59,886

(1) Reconciling items are generally comprised of unallocated corporate administrative costs, including management and board compensation, corporate support function costs and other general corporate costs that are not allocated to segments.

(2) A reconciliation of the Company’s net income to Adjusted EBITDA on a consolidated basis is presented below.

The table below represents a reconciliation of the Company’s net income to Adjusted EBITDA for all periods presented:

For the Years Ended

May 28,

May 29,

May 30,

(Amounts in thousands)

2022

2021

2020

Net income

$

67,175

$

25,229

$

28,285

Adjustments:

Amortization expense

4,908

5,228

5,745

Depreciation expense

3,575

3,897

5,019

Interest expense, net

1,064

1,600

2,061

Income tax expense (benefit)

15,793

(2,545)

6,943

Stock-based compensation expense

8,168

6,613

6,057

Restructuring costs

833

8,260

4,982

Contingent consideration adjustment

166

4,512

794

Technology transformation costs (1)

1,449

-

-

Adjusted EBITDA

$

103,131

$

52,794

$

59,886

(1) Technology transformation costs in fiscal 2022 represent costs included in net income related to the Company’s initiative to upgrade its technology platform globally, including a cloud-based enterprise resource planning system and talent acquisition and management system. Such costs primarily include software licensing costs, third-party consulting fees and costs associated with dedicated internal resources that are not capitalized.

The table below represents the Company’s revenue and long-lived assets by geographic location (amounts in thousands):

Revenue for the Years Ended

Long-Lived Assets (1) as of

May 28,

May 29,

May 30

May 28,

May 29,

2022

2021

2020

2022

2021

United States

$

663,980

$

502,493

$

568,725

$

32,406

$

40,988

International

141,038

127,023

134,628

2,792

4,210

Total

$

805,018

$

629,516

$

703,353

$

35,198

$

45,198

(1) Long-lived assets are comprised of property and equipment and ROU assets.