Segments (Tables)

12 Months Ended

Apr. 30, 2023

Segment Reporting [Abstract]

Financial Highlights

Financial highlights are as follow:

	Year Ended April 30,
	2023		2022		2021
	Consolidated
	(in thousands)
Fee revenue	$	2,835,408	$	2,626,718	$	1,810,047
Total revenue	$	2,863,836	$	2,643,455	$	1,819,946
Net income attributable to Korn Ferry	$	209,529	$	326,360	$	114,454
Net income attributable to noncontrolling interest	3,525		4,485		1,108
Other (income) loss, net	(5,261)		11,880		(37,194)
Interest expense, net	25,864		25,293		29,278
Income tax provision	82,683		102,056		48,138
Operating income	316,340		470,074		155,784
Depreciation and amortization	68,335		63,521		61,845
Other income (loss), net	5,261		(11,880)		37,194
Integration/acquisition costs	14,922		7,906		737
Impairment of fixed assets	4,375		1,915		—
Impairment of right of use assets	5,471		7,392		—
Restructuring charges, net	42,573		—		30,732
Adjusted EBITDA(1)	$	457,277	$	538,928	$	286,292

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

Financial Highlights by Operating Segment

Financial highlights by reportable segments are as follows:

	Year Ended April 30, 2023
	Fee revenue		Total revenue		Adjusted EBITDA(1)
	(in thousands)
Consulting	$	677,001	$	686,979	$	108,502
Digital	354,651		354,967		97,458
Executive Search:
North America	562,139		568,212		140,850
EMEA	187,014		188,114		31,380
Asia Pacific	95,598		95,956		24,222
Latin America	31,047		31,054		9,370
Professional Search & Interim	503,395		507,058		110,879
RPO	424,563		431,496		52,588
Corporate	—		—		(117,972)
Consolidated	$	2,835,408	$	2,863,836	$	457,277

_______________________________

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

	Year Ended April 30, 2022
	Fee revenue		Total revenue		Adjusted EBITDA(1)
	(in thousands)
Consulting	$	650,204	$	654,199	$	116,108
Digital	349,025		349,437		110,050
Executive Search:
North America	605,704		609,258		181,615
EMEA	182,192		182,866		31,804
Asia Pacific	118,596		118,705		35,105
Latin America	29,069		29,079		9,089
Professional Search & Interim	297,096		297,974		106,015
RPO	394,832		401,937		59,126
Corporate	—		—		(109,984)
Consolidated	$	2,626,718	$	2,643,455	$	538,928

______________________________

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

	Year Ended April 30, 2021
	Fee revenue		Total revenue		Adjusted EBITDA(1)
	(in thousands)
Consulting	$	515,844	$	517,046	$	81,522
Digital	287,306		287,780		86,095
Executive Search:
North America	397,275		399,104		98,099
EMEA	138,954		139,213		11,742
Asia Pacific	83,306		83,463		16,676
Latin America	17,500		17,500		1,289
Professional Search & Interim	130,831		131,080		36,934
RPO	239,031		244,760		32,477
Corporate	—		—		(78,542)
Consolidated	$	1,810,047	$	1,819,946	$	286,292

_______________________________

(1)Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization and further excludes, integration/acquisition costs and restructuring charges, net.

Fee Revenue Classified by Country

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

	Year Ended April 30,
	2023		2022		2021
	(in thousands)
U.S.	$	1,568,119	$	1,348,377	$	837,682
United Kingdom	255,797		247,617		189,893
Other countries	1,011,492		1,030,724		782,472
Total fee revenue	$	2,835,408	$	2,626,718	$	1,810,047

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 location of the controlling statutory country are as follows:

	Year Ended April 30,
	2023		2022		2021
	(in thousands)
U.S.(1)	$	186,220	$	185,228	$	182,218
United Kingdom	22,893		26,711		34,081
Other countries	95,453		93,967		89,600
Total long-lived assets	$	304,566	$	305,906	$	305,899

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(1)Includes Corporate long-lived assets