Segments (Tables)

9 Months Ended

Jan. 31, 2024

Financial highlights are as follows:


	Three Months Ended January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023

	Consolidated
	(in thousands)
Fee revenue	$	668,679	$	680,782	$	2,071,871	$	2,104,534
Total revenue	$	676,873	$	686,845	$	2,095,582	$	2,125,712

Net income attributable to Korn Ferry	$	59,071	$	11,247	$	103,965	$	162,035
Net income attributable to noncontrolling interest	649		522		2,984		2,885
Other income, net	(23,817)		(13,097)		(23,559)		(4,824)
Interest expense, net	4,946		5,378		16,282		20,088
Income tax provision	9,018		8,463		29,779		63,575
Operating income	49,867		12,513		129,451		243,759
Depreciation and amortization	19,509		17,037		58,075		50,359
Other income, net	23,817		13,097		23,559		4,824
Integration/acquisition costs	3,899		2,456		13,057		9,472
Impairment of fixed assets	—		4,375		1,575		4,375
Impairment of right-of-use assets	—		5,471		1,629		5,471
Restructuring charges, net	4,612		41,162		68,558		41,162
Adjusted EBITDA (1)	$	101,704	$	96,111	$	295,904	$	359,422

___________________


(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 reportable segments are as follows:


	Three Months Ended January 31,
	2024						2023
	Fee revenue		Total revenue		Adjusted EBITDA		Fee revenue		Total revenue		Adjusted EBITDA

	(in thousands)
Consulting	$	166,947	$	169,929	$	27,812	$	162,155	$	164,414	$	23,305
Digital	90,317		90,394		27,370		85,071		85,087		22,153
Executive Search:
North America	121,449		123,059		29,382		132,810		134,255		30,446
EMEA	48,999		49,171		7,799		48,960		49,195		7,981
Asia Pacific	21,324		21,384		4,500		22,621		22,694		5,538
Latin America	7,541		7,543		1,750		7,654		7,658		2,462
Professional Search & Interim	130,890		131,824		23,795		117,980		118,616		21,969
RPO	81,212		83,569		9,291		103,531		104,926		9,849
Corporate	—		—		(29,995)		—		—		(27,592)
Consolidated	$	668,679	$	676,873	$	101,704	$	680,782	$	686,845	$	96,111


	Nine Months Ended January 31,
	2024						2023
	Fee revenue		Total revenue		Adjusted EBITDA		Fee revenue		Total revenue		Adjusted EBITDA

	(in thousands)
Consulting	$	512,830	$	521,675	$	81,920	$	501,731	$	508,994	$	83,944
Digital	275,395		275,563		80,678		263,161		263,479		73,855
Executive Search:
North America	381,459		386,405		87,574		426,839		431,286		112,164
EMEA	138,873		139,621		19,056		140,661		141,443		24,577
Asia Pacific	65,167		65,454		14,690		72,410		72,669		18,723
Latin America	22,041		22,050		4,296		23,283		23,289		7,686
Professional Search & Interim	411,453		414,348		73,746		351,670		354,430		83,587
RPO	264,653		270,466		28,617		324,779		330,122		43,562
Corporate	—		—		(94,673)		—		—		(88,676)
Consolidated	$	2,071,871	$	2,095,582	$	295,904	$	2,104,534	$	2,125,712	$	359,422