v3.25.2
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Revenues and Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization for Reportable Segments
The tables below summarize revenues, significant expenses and gross profit by reportable segment:
Three Months Ended June 30, 2025Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$379,239 $186,517 $191,657 $83,599 $102,650 $943,662 
Direct costs
Compensation expenses (1)
224,942 114,485 134,904 36,519 49,538 560,388 
Other segment items (2)
21,209 6,275 14,939 22,345 15,985 80,753 
246,151 120,760 149,843 58,864 65,523 641,141 
Segment gross profit (3)
$133,088 $65,757 $41,814 $24,735 $37,127 $302,521 
Six Months Ended June 30, 2025Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$722,884 $377,119 $371,518 $180,755 $189,668 $1,841,944 
Direct costs
Compensation expenses (1)
435,360 225,363 264,009 73,650 95,017 1,093,399 
Other segment items (2)
42,363 13,358 24,279 49,472 27,198 156,670 
477,723 238,721 288,288 123,122 122,215 1,250,069 
Segment gross profit (3)
$245,161 $138,398 $83,230 $57,633 $67,453 $591,875 
Three Months Ended June 30, 2024Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$347,971 $169,496 $230,873 $115,875 $84,941 $949,156 
Direct costs
Compensation expenses (1)
209,373 111,950 143,873 38,976 46,613 550,785 
Other segment items (2)
22,196 7,974 15,166 33,474 8,154 86,964 
231,569 119,924 159,039 72,450 54,767 637,749 
Segment gross profit (3)
$116,402 $49,572 $71,834 $43,425 $30,174 $311,407 
Six Months Ended June 30, 2024Corporate
Finance		FLCEconomic
Consulting		TechnologyStrategic CommunicationsTotal
Revenues$713,981 $345,570 $435,421 $216,588 $166,149 $1,877,709 
Direct costs
Compensation expenses (1)
424,813 216,312 288,174 75,576 90,832 1,095,707 
Other segment items (2)
44,946 16,006 30,305 60,943 15,876 168,076 
469,759 232,318 318,479 136,519 106,708 1,263,783 
Segment gross profit (3)
$244,222 $113,252 $116,942 $80,069 $59,441 $613,926 
(1)The significant expense category and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other segment items include expenses for contractor fees, depreciation and other costs. In our Technology segment, other segment items also include expenses related to software and licensing and data storage.
(3)Includes internal cost recovery for work performed on corporate projects of $4.4 million and $7.9 million for the three and six months ended June 30, 2025, respectively, and $4.3 million and $7.8 million for the three and six months
ended June 30, 2024, respectively. Costs associated with billable work performed on corporate projects are included in unallocated corporate expenses as SG&A expenses in the Condensed Consolidated Statements of Comprehensive Income.
Schedule of Reconciliation of Net Income to Adjusted Segment Earnings Before Interest, Taxes, Depreciation and Amortization
The table below reconciles income before income tax provision to total segment gross profit:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Income before income tax provision$91,939 $102,682 $172,520 $202,177 
Add back:
Interest expense 5,257 3,319 6,225 5,038 
Interest income and other2,068 (1,909)(774)(3,490)
Amortization of intangibles1,053 1,080 2,070 2,096 
Special charges— — 25,295 — 
Selling, general and administrative expenses (1)
202,204 206,235 386,539 408,105 
Total segment gross profit (1)
$302,521 $311,407 $591,875 $613,926 
(1)Includes internal cost recovery for work performed on corporate projects of $4.4 million and $7.9 million for the three and six months ended June 30, 2025, respectively, and $4.3 million and $7.8 million for the three and six months ended June 30, 2024, respectively. Costs associated with billable work performed on corporate projects are included in unallocated corporate expenses as SG&A expenses in the Condensed Consolidated Statements of Comprehensive Income.