Korn Ferry Annual report pursuant to Section 13 and 15(d)

Segments (Tables)

12 Months Ended

Apr. 30, 2022

Financial highlights by reportable segments are as follows:

	Year Ended April 30, 2022
					Executive Search
	Consulting		Digital		North America		EMEA		Asia Pacific		Latin America		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	650,204	$	349,025	$	605,704	$	182,192	$	118,596	$	29,069	$	691,928	$	—		$	2,626,718
Total revenue	$	654,199	$	349,437	$	609,258	$	182,866	$	118,705	$	29,079	$	699,911	$	—		$	2,643,455

Net income attributable to Korn Ferry																		$	326,360
Net income attributable to noncontrolling interest																			4,485
Other loss, net																			11,880
Interest expense, net																			25,293
Income tax provision																			102,056
Operating income																		$	470,074
Depreciation and amortization																			63,521
Other loss, net																			(11,880	)
Integration/acquisition costs																			7,906
Impairment of fixed assets																			1,915
Impairment of right of use assets																			7,392
Adjusted EBITDA⁽¹⁾	$	116,108	$	110,050	$	181,615	$	31,804	$	35,105	$	9,089	$	165,141	$	(109,984	)	$	538,928

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

	Year Ended April 30, 2021
					Executive Search
	Consulting		Digital		North America		EMEA		Asia Pacific		Latin America		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	515,844	$	287,306	$	397,275	$	138,954	$	83,306	$	17,500	$	369,862	$	—		$	1,810,047
Total revenue	$	517,046	$	287,780	$	399,104	$	139,213	$	83,463	$	17,500	$	375,840	$	—		$	1,819,946

Net income attributable to Korn Ferry																		$	114,454
Net income attributable to noncontrolling interest																			1,108
Other income, net																			(37,194	)
Interest expense, net																			29,278
Income tax provision																			48,138
Operating income																		$	155,784
Depreciation and amortization																			61,845
Other income, net																			37,194
Integration/acquisition costs																			737
Restructuring charges, net																			30,732
Adjusted EBITDA⁽¹⁾	$	81,522	$	86,095	$	98,099	$	11,742	$	16,676	$	1,289	$	69,411	$	(78,542	)	$	286,292

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

	Year Ended April 30, 2020
					Executive Search
	Consulting		Digital		North America		EMEA		Asia Pacific		Latin America		RPO & Professional Search		Corporate			Consolidated
	(in thousands)
Fee revenue	$	543,095	$	292,366	$	434,624	$	170,314	$	98,132	$	29,400	$	364,801	$	—		$	1,932,732
Total revenue	$	557,255	$	294,261	$	447,528	$	172,978	$	99,209	$	29,493	$	376,606	$	—		$	1,977,330

Net income attributable to Korn Ferry																		$	104,946
Net income attributable to noncontrolling interest																			2,071
Other loss, net																			2,879
Interest expense, net																			22,184
Income tax provision																			43,945
Operating income																		$	176,025
Depreciation and amortization																			55,311
Other loss, net																			(2,879	)
Integration/acquisition costs																			12,152
Restructuring charges, net																			58,559
Separation costs																			1,783
Adjusted EBITDA⁽¹⁾	$	61,092	$	83,073	$	120,725	$	31,067	$	22,885	$	6,402	$	60,168	$	(84,461	)	$	300,951

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

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

Long-lived assets, excluding financial instruments and tax assets, classified by location of the controlling statutory country are as follows:

⁽¹⁾	Includes Corporate long-lived assets