Segments (Tables)

9 Months Ended

Jan. 31, 2023

Financial highlights are as follows:


	Three Months Ended January 31,				Nine Months Ended January 31,
	2023		2022		2023		2022

	Consolidated
	(in thousands)
Fee revenue	$	680,782	$	680,741	$	2,104,534	$	1,905,579
Total revenue	$	686,845	$	684,956	$	2,125,712	$	1,916,452

Net income attributable to Korn Ferry	$	11,247	$	84,101	$	162,035	$	234,696
Net income attributable to noncontrolling interest	522		956		2,885		3,090
Other (income) loss, net	(13,097)		7,277		(4,824)		(2,236)
Interest expense, net	5,378		7,029		20,088		18,820
Income tax provision	8,463		26,927		63,575		76,951
Operating income	12,513		126,290		243,759		331,321
Depreciation and amortization	17,037		16,104		50,359		47,381
Other income (loss), net	13,097		(7,277)		4,824		2,236
Integration/acquisition costs	2,456		3,214		9,472		4,298
Impairment of fixed assets	4,375		—		4,375		1,915
Impairment of right-of-use assets	5,471		—		5,471		7,392
Restructuring charges, net	41,162		—		41,162		—
Adjusted EBITDA(1)	$	96,111	$	138,331	$	359,422	$	394,543

___________________


(1)			Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, further excludes integration/acquisition costs, impairment of fixed assets, impairment of right-of-use assets, and restructuring charges, net.

Financial highlights by reportable segments are as follows:


	Three Months Ended January 31,
	2023						2022
	Fee revenue		Total revenue		Adjusted EBITDA		Fee revenue		Total revenue		Adjusted EBITDA

	(in thousands)
Consulting	$	162,155	$	164,414	$	23,305	$	162,889	$	163,824	$	28,556
Digital	85,071		85,087		22,153		90,194		90,501		28,142
Executive Search:
North America	132,810		134,255		30,446		152,597		153,454		45,702
EMEA	48,960		49,195		7,981		47,509		47,666		8,080
Asia Pacific	22,621		22,694		5,538		31,425		31,448		9,451
Latin America	7,654		7,658		2,462		7,468		7,470		2,484
Professional Search & Interim	117,980		118,616		21,969		90,015		90,198		31,344
RPO	103,531		104,926		9,849		98,644		100,395		12,765
Corporate	—		—		(27,592)		—		—		(28,193)
Consolidated	$	680,782	$	686,845	$	96,111	$	680,741	$	684,956	$	138,331


	Nine Months Ended January 31,
	2023						2022
	Fee revenue		Total revenue		Adjusted EBITDA		Fee revenue		Total revenue		Adjusted EBITDA

	(in thousands)
Consulting	$	501,731	$	508,994	$	83,944	$	476,260	$	478,563	$	85,458
Digital	263,161		263,479		73,855		259,504		259,894		82,330
Executive Search:
North America	426,839		431,286		112,164		449,472		451,836		137,939
EMEA	140,661		141,443		24,577		132,690		133,080		23,328
Asia Pacific	72,410		72,669		18,723		88,385		88,447		25,972
Latin America	23,283		23,289		7,686		20,815		20,821		6,204
Professional Search & Interim	351,670		354,430		83,587		196,411		196,832		72,608
RPO	324,779		330,122		43,562		282,042		286,979		41,726
Corporate	—		—		(88,676)		—		—		(81,022)
Consolidated	$	2,104,534	$	2,125,712	$	359,422	$	1,905,579	$	1,916,452	$	394,543