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SEGMENT AND GEOGRAPHICAL INFORMATION
 3 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHICAL INFORMATION Segment and Geographical Information
The Company’s reportable segments, described in Note 1, were identified based on several primary factors, including: each segment operates under independent management, offers distinct services, and requires specialized expertise for service delivery. Revenues by segment represent fees earned on the various services offered within each segment. Our operating expenses are classified as employee compensation and benefits expense and non-compensation expense; revenue and headcount are the primary drivers of our operating expenses. Our employee compensation and benefits expense consists of base salary, payroll taxes, benefits, annual incentive compensation payable as cash bonus awards, deferred cash bonus awards, and the amortization of equity-based bonus awards. The balance of our operating expenses (non-compensation expense) includes costs for travel, meals and entertainment, rent, depreciation and amortization, information technology and communications, professional fees, and other operating expenses.
Segment profit consists of segment revenues, less (1) direct expenses including employee compensation and benefits, travel, meals and entertainment, professional fees, and bad debt and (2) expenses allocated by headcount such as communications, rent, depreciation and amortization, and office expense. The corporate expense category includes costs not allocated to individual segments, including certain acquisition related charges and share-based payments to corporate employees, as well as expenses of senior management and corporate departmental functions managed on a worldwide basis, including office of the executives, accounting, human capital, marketing, information technology, and legal and compliance.
The following tables present information about revenues, profit and assets by segment and geography. The Company's Chief Operating Decision Maker ("CODM") is its Chief Executive Officer. The CODM oversees the performance of the Company's three reportable segments by analyzing their financial metrics, including revenues by segment and segment profit. The financial metrics the CODM regularly receives does not include asset information and the CODM does not use segment asset information to assess performance or allocate resources.
Three Months Ended June 30,
20262025
Revenues by segment
Corporate Finance$303 $398 
Financial Restructuring119 128 
Financial and Valuation Advisory89 79 
Revenues511 605 
Employee compensation and benefits by segment (1)
Corporate Finance161 220 
Financial Restructuring64 72 
Financial and Valuation Advisory50 46 
Non-compensation expense by segment
Corporate Finance53 51 
Financial Restructuring13 13 
Financial and Valuation Advisory16 15 
Segment profit
Corporate Finance89 127 
Financial Restructuring42 43 
Financial and Valuation Advisory23 18 
Total segment profit154 188 
Corporate expenses76 98 
Other (income) expense, net(8)(8)
Income before provision for income taxes$86 $98 
(1)We adjust the compensation expense for a business segment in situations where an employee residing in one business segment is performing work in another business segment where the revenues are accrued. Segment profit may vary significantly between periods depending on the levels of collaboration among the different segments.

June 30, 2026March 31, 2026
Assets by segment
Corporate Finance$1,436 $1,477 
Financial Restructuring194 179 
Financial and Valuation Advisory232 223 
Total segment assets1,862 1,879 
Corporate assets1,855 2,430 
Total assets$3,717 $4,309 


Three Months Ended June 30,
20262025
Revenues by geography
United States$364 $422 
International147 183 
Revenues$511 $605 
June 30, 2026March 31, 2026
Assets by geography
United States$2,401 $2,635 
International1,3161,674
Total assets$3,717 $4,309