Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 22, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Entity File Number | 0-25837 | ||
Entity Registrant Name | HEIDRICK & STRUGGLES INTERNATIONAL, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 36-2681268 | ||
Entity Address, Address Line One | 233 South Wacker Drive | ||
Entity Address, Address Line Two | Suite 4900 | ||
Entity Address, City or Town | Chicago | ||
Entity Address, State or Province | IL | ||
Entity Address, Postal Zip Code | 60606-6303 | ||
City Area Code | (312) | ||
Local Phone Number | 496-1200 | ||
Title of 12(b) Security | Common Stock, $.01 par value | ||
Trading Symbol | HSII | ||
Security Exchange Name | NASDAQ | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Shell Company | false | ||
Entity Public Float | $ 356,598,123 | ||
Entity Common Stock, Shares Outstanding | 19,359,586 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Document Transition Report | false | ||
Entity Central Index Key | 0001066605 | ||
Entity Filer Category | Accelerated Filer |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 621,615,000 | $ 706,924,000 | $ 716,023,000 |
Revenues | 629,370,000 | 725,614,000 | 735,655,000 |
Labor and Related Expense | 450,424,000 | 501,791,000 | 506,349,000 |
General and administrative expenses | 121,378,000 | 137,492,000 | 140,817,000 |
Asset Impairment Charges | 32,970,000 | 0 | 0 |
Restructuring Charges | 52,372,000 | 4,130,000 | 0 |
Total operating expenses | 664,899,000 | 662,103,000 | 666,798,000 |
Operating income (loss) | (35,529,000) | 63,511,000 | 68,857,000 |
Interest Income (Expense), Net | 204,000 | 2,880,000 | 1,141,000 |
Other Nonoperating Income (Expense) | 3,927,000 | 2,898,000 | 494,000 |
Net non-operating income | 4,131,000 | 5,778,000 | 1,635,000 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (31,398,000) | 69,289,000 | 70,492,000 |
Income Tax Expense (Benefit) | 6,309,000 | 22,420,000 | 21,197,000 |
Net income (loss) | (37,707,000) | 46,869,000 | 49,295,000 |
Foreign currency translation adjustment | 82,000 | 844,000 | (3,885,000) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | (13,000) | 13,000 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent | (476,000) | (1,095,000) | 721,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | (407,000) | (238,000) | (3,164,000) |
Comprehensive income (loss) | $ (38,114,000) | $ 46,631,000 | $ 46,131,000 |
Weighted Average Number of Shares Outstanding, Basic | 19,301 | 19,103 | 18,917 |
Weighted Average Number of Shares Outstanding, Diluted | 19,301 | 19,551 | 19,532 |
Earnings Per Share, Basic | $ (1.95) | $ 2.45 | $ 2.61 |
Earnings Per Share, Diluted | (1.95) | 2.40 | 2.52 |
Cash dividends paid per share (in dollars per share) | $ 0.60 | $ 0.60 | $ 0.52 |
Reimbursements [Member] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 7,755,000 | $ 18,690,000 | $ 19,632,000 |
Cost of Goods and Services Sold | $ 7,755,000 | $ 18,690,000 | $ 19,632,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity - USD ($) | Total | Cumulative Effect, Period of Adoption, Adjustment | Treasury Stock [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive Income [Member] | Accumulated Other Comprehensive Income [Member]Cumulative Effect, Period of Adoption, Adjustment | Common Stock Including Additional Paid in Capital |
Other comprehensive loss, net of tax | |||||||||
Common stock, shares issued | 805,000 | 19,586,000 | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 212,705,000 | $ (26,096,000) | $ 226,006,000 | $ (716,000) | $ 13,315,000 | $ 196,000 | |||
Net income (loss) | 49,295,000 | 49,295,000 | |||||||
Adoption of accounting standards | 3,164,000 | 3,164,000 | |||||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 8,947,000 | 8,947,000 | |||||||
Vesting of equity, net of tax withholdings (in shares) | (167,000) | ||||||||
Restricted Stock, Value, Shares Issued Net of Tax Withholdings | 2,233,000 | $ (5,604,000) | 7,837,000 | ||||||
Re-issuance of treasury stock (in shares) | 6,000 | ||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 225,000 | $ 194,000 | 31,000 | ||||||
Dividends, Cash | $ (7,389,000) | 7,389,000 | |||||||
Cash dividends per share (in dollars per share) | $ 0.39 | ||||||||
Dividend, Share-based Payment Arrangement, Cash | $ (184,000) | 184,000 | |||||||
Ending Balance at Dec. 31, 2018 | $ 8,954,000 | $ 15,043,000 | $ (6,089,000) | ||||||
Other comprehensive loss, net of tax | |||||||||
Common stock, shares issued | 632,000 | 19,586,000 | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 267,156,000 | $ (20,298,000) | 227,147,000 | 56,049,000 | 4,062,000 | $ 196,000 | |||
Net income (loss) | 46,869,000 | 46,869,000 | |||||||
Adoption of accounting standards | 238,000 | 238,000 | |||||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 10,298,000 | 10,298,000 | |||||||
Vesting of equity, net of tax withholdings (in shares) | (163,000) | ||||||||
Restricted Stock, Value, Shares Issued Net of Tax Withholdings | 4,552,000 | $ (5,154,000) | 9,706,000 | ||||||
Re-issuance of treasury stock (in shares) | 49,000 | ||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 1,417,000 | $ 349,000 | 1,068,000 | ||||||
Dividends, Cash | $ (11,461,000) | 11,461,000 | |||||||
Cash dividends per share (in dollars per share) | $ 0.60 | ||||||||
Dividend, Share-based Payment Arrangement, Cash | $ (374,000) | 374,000 | |||||||
Common stock, shares issued | 19,165,954 | 420,000 | 19,586,000 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 309,115,000 | $ (14,795,000) | 228,807,000 | 91,083,000 | 3,824,000 | $ 196,000 | |||
Net income (loss) | (37,707,000) | (37,707,000) | |||||||
Adoption of accounting standards | 407,000 | 407,000 | |||||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | 10,199,000 | 10,199,000 | |||||||
Vesting of equity, net of tax withholdings (in shares) | (179,000) | ||||||||
Restricted Stock, Value, Shares Issued Net of Tax Withholdings | 1,550,000 | $ (6,225,000) | 7,775,000 | ||||||
Re-issuance of treasury stock (in shares) | 15,000 | ||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 346,000 | $ 529,000 | (183,000) | ||||||
Dividends, Cash | $ (11,576,000) | 11,576,000 | |||||||
Cash dividends per share (in dollars per share) | $ 0.60 | ||||||||
Dividend, Share-based Payment Arrangement, Cash | $ (486,000) | 486,000 | |||||||
Ending Balance at Dec. 31, 2020 | $ (332,000) | $ (332,000) | |||||||
Other comprehensive loss, net of tax | |||||||||
Common stock, shares issued | 19,359,586 | 226,000 | 19,586,000 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 267,602,000 | $ (8,041,000) | $ 231,048,000 | $ 40,982,000 | $ 3,417,000 | $ 196,000 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash dividends per share (in dollars per share) | $ 0.60 | $ 0.60 | $ 0.39 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows - operating activities | |||
Net income (loss) | $ (37,707,000) | $ 46,869,000 | $ 49,295,000 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 26,656,000 | 10,371,000 | 12,522,000 |
Provision for income taxes | 6,309,000 | 22,420,000 | 21,197,000 |
Deferred income taxes | (1,680,000) | 1,644,000 | (3,496,000) |
Stock-based compensation expense | 10,199,000 | 10,298,000 | 8,947,000 |
Accretion expense related to earnout payments | 0 | 668,000 | 1,285,000 |
Asset Impairment Charges | 32,970,000 | 0 | 0 |
Marketable Securities, Gain (Loss) | (154,000) | (595,000) | 0 |
Gain (Loss) on Disposition of Assets | 287,000 | 0 | 0 |
Increase (Decrease) in Accounts Receivable | 22,644,000 | 6,899,000 | (16,759,000) |
Increase (Decrease) in Accounts Payable | 451,000 | (994,000) | (526,000) |
Changes in assets and liabilities, net of effects of acquisitions: | |||
Accrued expenses | (26,513,000) | 2,441,000 | 71,526,000 |
Restructuring Reserve, Accrual Adjustment | 2,479,000 | 1,959,000 | (11,617,000) |
Deferred revenue | (3,688,000) | 175,000 | (1,899,000) |
Income taxes recoverable (payable), net | (4,016,000) | (5,450,000) | 757,000 |
Retirement and pension plan assets and liabilities | 1,794,000 | 3,258,000 | (1,492,000) |
Prepaid expenses | (1,642,000) | 455,000 | 893,000 |
Other assets and liabilities, net | 2,011,000 | (1,557,000) | 4,748,000 |
Net Cash Provided by (Used in) Operating Activities | 23,353,000 | 78,645,000 | 102,902,000 |
Cash flows - investing activities | |||
Acquisition of business, net of cash acquired | 0 | (3,520,000) | (3,083,000) |
Capital expenditures | (7,322,000) | (3,352,000) | (5,960,000) |
Purchases of available for sale investments | (118,904,000) | (130,411,000) | (2,201,000) |
Proceeds from sale of available for sale investments | 158,852,000 | 67,968,000 | 2,995,000 |
Net Cash Provided by (Used in) Investing Activities | 32,626,000 | (69,315,000) | (8,249,000) |
Cash flows - financing activities | |||
Proceeds from Lines of Credit | 100,000,000 | 0 | 20,000,000 |
Repayments of Lines of Credit | (100,000,000) | 0 | (20,000,000) |
Debt issuance costs | 0 | 0 | (981,000) |
Cash dividends paid | (12,063,000) | (11,835,000) | (10,181,000) |
Payment of employee tax withholdings on equity transactions | (1,550,000) | (4,552,000) | (2,234,000) |
Payment for Contingent Consideration Liability, Financing Activities | (2,789,000) | (1,853,000) | (3,592,000) |
Net Cash Provided by (Used in) Financing Activities | (16,402,000) | (18,240,000) | (16,988,000) |
Effect of exchange rates fluctuations on cash, cash equivalents and restricted cash | 5,193,000 | 367,000 | (5,565,000) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 44,770,000 | (8,543,000) | 72,100,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 316,489,000 | 271,719,000 | 280,262,000 |
Cash, cash equivalents and restricted cash at end of period | 316,473,000 | 271,719,000 | |
Cash paid for | |||
Income taxes | 12,154 | 27,338 | 22,616 |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 761,000 | $ 0 | $ 67 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Heidrick & Struggles International, Inc. and subsidiaries (the “Company”) is engaged in providing executive search and consulting services to clients on a retained basis. The Company operates in the Americas, Europe and Asia Pacific regions. The consolidated financial statements include Heidrick & Struggles International, Inc. and its wholly owned subsidiaries and have been prepared using accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Significant items subject to estimates and assumptions include revenue recognition, allowances for deferred tax assets and liabilities, assessment of goodwill, other intangible assets and long-lived assets for impairment. Estimates are subject to a degree of uncertainty and actual results could differ from these estimates. |
Summary of Significant Accounti
Summary of Significant Accounting Policies Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Restricted Cash and Cash Equivalents Items [Line Items] | |||
Cash Equivalents, at Carrying Value | $ 316,473 | $ 271,719 | $ 279,906 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 316,489 | 271,719 | 280,262 |
Other Current Assets | |||
Restricted Cash and Cash Equivalents Items [Line Items] | |||
Restricted Cash | 0 | 0 | 108 |
Other Noncurrent Assets | |||
Restricted Cash and Cash Equivalents Items [Line Items] | |||
Restricted Cash | $ 16 | $ 0 | $ 248 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||||
Cash and cash equivalents | $ 316,473,000 | $ 271,719,000 | ||
Marketable securities | 19,999,000 | 61,153,000 | ||
Accounts receivable, net of allowances of $6,557 and $5,140, respectively | 88,123,000 | 109,163,000 | ||
Prepaid expenses | 18,956,000 | 20,185,000 | ||
Other current assets | 23,279,000 | 27,848,000 | ||
Income taxes recoverable | 5,856,000 | 4,414,000 | ||
Total current assets | 472,686,000 | 494,482,000 | ||
Non-current assets | ||||
Property and equipment, net | 23,492,000 | 28,650,000 | ||
Operating lease right-of-use assets | 92,671,000 | 99,391,000 | ||
Assets designated for retirement and pension plans | 14,425,000 | 13,978,000 | ||
Investments | 31,369,000 | 25,409,000 | ||
Other non-current assets | 24,439,000 | 20,434,000 | ||
Goodwill | 91,643,000 | 126,831,000 | $ 122,092,000 | $ 118,892,000 |
Other intangible assets, net | 1,129,000 | 1,935,000 | ||
Deferred income taxes, net | 35,958,000 | 33,063,000 | ||
Total non-current assets | 315,126,000 | 349,691,000 | ||
Total assets | 787,812,000 | 844,173,000 | ||
Current liabilities | ||||
Accounts payable | 8,799,000 | 8,633,000 | ||
Accrued salaries and benefits | 217,908,000 | 234,306,000 | ||
Deferred revenue | 38,050,000 | 41,267,000 | ||
Operating lease liabilities | 28,984,000 | 30,955,000 | ||
Other current liabilities | 23,311,000 | 26,253,000 | ||
Income taxes payable | 1,186,000 | 3,928,000 | ||
Total current liabilities | 318,238,000 | 345,342,000 | ||
Total current liabilities | ||||
Accrued Salaries and Benefits | 56,925,000 | 59,662,000 | ||
Retirement and pension plans | 53,496,000 | 46,032,000 | ||
Operating lease liabilities | 86,816,000 | 79,388,000 | ||
Other non-current liabilities | 4,735,000 | 4,634,000 | ||
Total non-current liabilities | 201,972,000 | 189,716,000 | ||
Total liabilities | 520,210,000 | 535,058,000 | ||
Commitments and contingencies (Note 19) | ||||
Stockholders’ equity | ||||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued at December 31, 2020 and December 31, 2019 | 0 | 0 | ||
Common stock, $0.01 par value, 100,000,000 shares authorized, 19,585,777 shares issued, 19,359,586 and 19,165,954 shares outstanding at December 31, 2020 and December 31, 2019, respectively | 196,000 | 196,000 | ||
Treasury stock at cost, 226,191 and 419,823 shares at December 31, 2020 and December 31, 2019, respectively | (8,041,000) | (14,795,000) | ||
Additional paid in capital | 231,048,000 | 228,807,000 | ||
Retained earnings | 40,982,000 | 91,083,000 | ||
Accumulated other comprehensive income | 3,417,000 | 3,824,000 | ||
Total stockholders’ equity | 267,602,000 | 309,115,000 | $ 267,156,000 | $ 212,705,000 |
Total liabilities and stockholders’ equity | $ 787,812,000 | $ 844,173,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 19,585,777 | 19,585,777 |
Common stock, shares issued | 19,359,586 | 19,165,954 |
Treasury stock, shares | 226,191 | 419,823 |
Accounts Receivable, Allowance for Credit Loss, Current | $ 6,557 | $ 5,140 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three Marketable Securities The Company’s marketable securities consist of available-for-sale debt securities with original maturities exceeding three months. Concentration of Risk The Company is potentially exposed to concentrations of risk associated with its accounts receivable. However, this risk is limited due to the Company’s large number of clients and their dispersion across many different industries and geographies. At December 31, 2020 and 2019, the Company had no significant concentrations of risk. Accounts Receivable The Company’s accounts receivable consists of trade receivables. The Company’s expected credit loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. These factors may change over time, impacting the allowance level. See Note 4, Credit Losses . Fair Value of Financial Instruments Cash equivalents are stated at cost, which approximates fair value. The carrying value for receivables from clients, accounts payable, deferred revenue and other accrued liabilities reasonably approximate fair value due to the nature of the financial instruments and the short-term nature of the items. Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. Other Intangible Assets and Long Lived Assets The Company reviews its other intangible assets and long-lived assets, including property and equipment and right-of-use assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of asset groups to be held and used is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset group exceeds the fair value of the asset group, is recognized. The Company evaluated the recoverability of its other intangible assets and long-lived assets during the three months ended June 30, 2020 and determined that the other intangible assets and long-lived assets were recoverable. The Company continues to monitor the impact of the economic downturn resulting from COVID-19 for additional potential impairment indicators related to other intangible assets and long-lived assets. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating Lease Right-of-Use Assets, Operating Lease Liabilities - Current and Operating Lease Liabilities - Non-Current in our Consolidated Balance Sheets. The Company does not have any leases that meet the finance lease criteria. Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. As most of the Company's leases do not provide an implicit rate, an incremental borrowing rate based on the information available at the commencement date is used in determining the present value of lease payments. The operating lease right-of-use asset also includes any lease payments made in advance and any accrued rent expense balances. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. For office leases, the Company accounts for the lease and non-lease components as a single lease component. For equipment leases, such as vehicles and office equipment, the Company accounts for the lease and non-lease components separately. Investments The Company’s investments consist primarily of available-for-sale investments within the U.S. non-qualified deferred compensation plan (the “Plan”). Available-for-sale investments are reported at fair value with changes in unrealized gains (losses) and realized gains (losses) recorded as a non-operating expense in Other, net in the Consolidated Statements of Comprehensive Income (Loss). Goodwill Goodwill represents the difference between the purchase price of acquired companies and the related fair value of the net assets acquired, which is accounted for by the acquisition method of accounting. The Company performs assessments of the carrying value of goodwill at least annually and whenever events occur or circumstances indicate that a carrying amount of goodwill may not be recoverable. These circumstances include a significant change in business climate, attrition of key personnel, changes in financial condition or results of operations, a prolonged decline in the Company’s stock price and market capitalization, competition, and other factors. The goodwill impairment test compares the fair value of a reporting unit to its carrying amount, including goodwill. The Company operates four reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East) and Heidrick Consulting. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. The fair value of each of the Company’s reporting units is determined using a discounted cash flow methodology. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit. During the three months ended June 30, 2020, and as a direct result of the economic impact of the COVID-19 pandemic, the Company experienced a decline in demand for our executive search and consulting services, a lengthening of the executive search process due to a slow-down in client decision making and an inability to execute in-person consulting engagements, which had a material negative impact on our results of operations. As a result, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the three months ended June 30, 2020. During the impairment evaluation process, the Company used a discounted cash flow methodology to estimate the fair value of its reporting units. The discounted cash flow approach is dependent on a number of factors, including estimates of future market growth and trends, forecasted revenue and costs, capital investments, appropriate discount rates, certain assumptions to allocate shared costs, assets and liabilities, historical and projected performance of the reporting unit, and the macroeconomic conditions affecting each of the Company’s reporting units. The assumptions used in the determination of fair value were (1) a forecast of growth in the near and long term; (2) the discount rate; (3) working capital investments; (4) macroeconomic conditions and (5) other factors. Based on the results of the impairment evaluation, the Company determined that the goodwill within the Europe and Asia Pacific reporting units was impaired, which resulted in an impairment charge of $24.5 million in Europe and $8.5 million in Asia Pacific to write-off all of the goodwill associated with each reporting unit. The impairment charge is recorded within Impairment charges in the Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2020. The impairment was non-cash in nature and did not affect our current liquidity, cash flows, borrowing capability or operations; nor did it impact the debt covenants under our credit agreement. The Company continues to monitor potential triggering events for its Americas reporting unit including changes in the business climate in which it operates, the Company’s market capitalization compared to its book value, and the Company’s recent operating performance. Any changes in these factors could result in a further impairment charge. Restructuring Charges The Company accounts for restructuring charges by recognizing a liability at fair value when the costs are incurred. Revenue Recognition See Note 3, Revenue . Reimbursements The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue and expense in its Consolidated Statements of Comprehensive Income (Loss). Salaries and Benefits Salaries and benefits consist of compensation and benefits paid to consultants, executive officers, and administrative and support personnel, of which the most significant elements are salaries and annual performance-related bonuses. Other items in this category are expenses related to sign-on bonuses, forgivable employee loans and minimum guaranteed bonuses (often incurred in connection with the hiring of new consultants), restricted stock unit and performance share unit amortization, payroll taxes, profit sharing and retirement benefits, and employee insurance benefits. Salaries and benefits are recognized on an accrual basis. Certain sign-on bonuses, retention awards, and minimum guaranteed compensation are capitalized and amortized in accordance with the terms of the respective agreements. A portion of the Company’s management cash bonuses are deferred and paid over a three three Accrued salaries and benefits within both Current liabilities and Non-current liabilities in the Consolidated Balance Sheets. Historically, the Company's consultants participated in the same cash bonus deferral program as management. In 2020, the Company terminated the cash bonus deferral for consultants and now pays 100% of the cash bonuses earned by consultants in the first quarter of the following year. Consultant cash bonuses earned prior to 2020 will continue to be paid under the terms of the cash bonus deferral program. Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities, applying enacted statutory tax rates in effect for the year in which the tax differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Earnings per Common Share Basic earnings per common share is computed by dividing net income by weighted average common shares outstanding for the year. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Common equivalent shares are excluded from the determination of diluted earnings per share in periods in which they have an anti-dilutive effect. The following table sets forth the computation of basic and diluted earnings (loss) per share: December 31, 2020 2019 2018 Net income (loss) $ (37,707) $ 46,869 $ 49,295 Weighted average shares outstanding: Basic 19,301 19,103 18,917 Effect of dilutive securities: Restricted stock units — 285 406 Performance stock units — 163 209 Diluted 19,301 19,551 19,532 Basic earnings (loss) per share $ (1.95) $ 2.45 $ 2.61 Diluted earnings (loss) per share $ (1.95) $ 2.40 $ 2.52 Weighted average restricted stock units and performance stock units outstanding that could be converted into approximately 472,000 and 120,000 common shares, respectively, for the year ended December 31, 2020, were not included in the computation of diluted earnings per share because the effects would be anti-dilutive. Translation of Foreign Currencies The Company generally designates the local currency for all its subsidiaries as the functional currency. The Company translates the assets and liabilities of its subsidiaries into U.S. dollars at the current rate of exchange prevailing at the balance sheet date. Revenue and expenses are translated at a monthly average exchange rate for the period. Translation adjustments are reported as a component of Accumulated other comprehensive income . Restricted Cash Periodically, the Company is party to agreements with terms that required the Company to restrict cash through the termination dates of the agreements. Current and non-current restricted cash is included in Other current assets and Other non-current assets, respectively, in the Consolidated Balance Sheets. The following table provides a reconciliation of the cash and cash equivalents between the Consolidated Balance Sheets and the Consolidated Statement of Cash Flows as of December 31, 2020, 2019 and 2018: December 31, 2020 2019 2018 Cash and cash equivalents $ 316,473 $ 271,719 $ 279,906 Restricted cash included within other current assets — — 108 Restricted cash included within other non-current assets 16 — 248 Total cash, cash equivalents and restricted cash $ 316,489 $ 271,719 $ 280,262 Recently Issued Financial Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The guidance is intended to provide temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact of this accounting guidance. The effect is not known or reasonably estimable at this time. In December 2019, the FASB, issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes. The guidance simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. The Company is currently evaluating the impact of this accounting guidance. The effect is not known or reasonably estimable at this time. Recently Adopted Financial Accounting Standards On January 1, 2020, the Company adopted ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments, and all related ASU amendments, using the modified retrospective method. The guidance amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The adoption had an immaterial impact on the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Consolidated Statement of Cash Flows and Consolidated Statement of Changes in Stockholders' Equity for the year ended December 31, 2020. |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer | Executive Search Revenue is recognized as performance obligations are satisfied by transferring a good or service to a client. Generally, each executive search contract contains one performance obligation which is the process of identifying potentially qualified candidates for a specific client position. In most contracts, the transaction price includes both fixed and variable consideration. Fixed compensation is comprised of a retainer, equal to approximately one-third of the estimated first year compensation for the position to be filled, and indirect expenses, equal to a specified percentage of the retainer, as defined in the contract. The Company generally bills clients for the retainer and indirect expenses in one-third increments over a three-month period commencing in the month of a client’s acceptance of the contract. If actual compensation of a placed candidate exceeds the original compensation estimate, the Company is often authorized to bill the client for one-third of the excess compensation. The Company refers to this additional billing as uptick revenue. In most contracts, variable consideration is comprised of uptick revenue and direct expenses. The Company bills its clients for uptick revenue upon completion of the executive search, and direct expenses are billed as incurred. The Company estimates uptick revenue at contract inception, based on a portfolio approach, utilizing the expected value method based on a historical analysis of uptick revenue realized in the Company’s geographic regions and industry practices, and initially records a contract’s uptick revenue in an amount that is probable not to result in a significant reversal of cumulative revenue recognized when the actual amount of uptick revenue for the contract is known. Differences between the estimated and actual amounts of variable consideration are recorded when known. The Company does not estimate revenue for direct expenses as it is not materially different than recognizing revenue as direct expenses are incurred. Revenue from executive search engagement performance obligations are recognized over time as clients simultaneously receive and consume the benefits provided by the Company's performance. Revenue from executive search engagements is recognized over the expected average period of performance, in proportion to the estimated personnel time incurred to fulfill the obligations under the executive search contract. Revenue is generally recognized over a period of approximately six months. The Company's executive search contracts contain a replacement guarantee which provides for an additional search to be completed, free of charge except for expense reimbursements, should the candidate presented by the Company be hired by the client and subsequently terminated by the client for performance reasons within a specified period of time. The replacement guarantee is an assurance warranty, which is not a performance obligation under the terms of the executive search contract, as the Company does not provide any services under the terms of the guarantee that transfer benefits to the client in excess of assuring that the identified candidate complies with the agreed-upon specifications. The Company accounts for the replacement guarantee under the relevant warranty guidance in ASC 460 - Guarantees. Heidrick Consulting Revenue is recognized as performance obligations are satisfied by transferring a good or service to a client. Heidrick Consulting enters into contracts with clients that outline the general terms and conditions of the assignment to provide succession planning, executive assessment, top team and board effectiveness and culture shaping programs. The consideration the Company expects to receive under each contract is generally fixed. Most of our consulting contracts contain one performance obligation, which is the overall process of providing the consulting service requested by the client. The majority of our consulting revenue is recognized over time utilizing both input and output methods. Contracts that contain coaching sessions, training sessions or the completion of assessments are recognized using the output method as each session or assessment is delivered to the client. Contracts that contain general consulting work are recognized using the input method utilizing a measure of progress that is based on time incurred on the project. The Company enters into enterprise agreements with clients to provide a license for online access, via the Company's Culture Connect platform, to training and other proprietary material related to the Company's culture shaping programs. The consideration the Company expects to receive under the terms of an enterprise agreement is comprised of a single fixed fee. The enterprise agreements contain multiple performance obligations, the delivery of materials via Culture Connect and material rights related to options to renew enterprise agreements at a significant discount. The Company allocates the transaction price to the performance obligations in the contract on a stand-alone selling price basis. The stand-alone selling price for the initial term of the enterprise agreement is outlined in the contract and is equal to the price paid by the client for the agreement over the initial term of the contract. The stand-alone selling price for the options to renew, or material right, are not directly observable and must be estimated. This estimate is required to reflect the discount the client would obtain when exercising the option to renew, adjusted for the likelihood that the option will be exercised. The Company estimates the likelihood of renewal using a historical analysis of client renewals. Access to Culture Connect represents a right to access the Company’s intellectual property that the client simultaneously receives and consumes as the Company performs under the agreement, and therefore the Company recognizes revenue over time. Given the continuous nature of this commitment, the Company utilizes straight-line ratable revenue recognition over the estimated subscription period as the Company's clients will receive and consume the benefits from Culture Connect equally throughout the contract period. Revenue related to client renewals of enterprise agreements is recognized over the term of the renewal, which is generally twelve months. Enterprise agreements do not comprise a significant portion of the Company's revenue. Contract Balances Contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities are classified as current due to the nature of the Company's contracts, which are completed within one year. Contract assets are included within Other Current Assets on the Consolidated Balance Sheets. Unbilled receivables: Unbilled revenue represents contract assets from revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is solely dependent upon the passage of time. This amount includes revenue recognized in excess of billed executive search retainers and Heidrick Consulting fees. Contract assets: Contract assets represent revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is not solely subject to the passage of time. This amount primarily includes revenue recognized for upticks and contingent placement fees in executive search contracts. Deferred revenue: Contract liabilities consist of deferred revenue, which is equal to billings in excess of revenue recognized. The following table outlines the changes in our contract asset and liability balances for the years ended: December 31, 2020 2019 Change Contract assets Unbilled receivables $ 9,907 $ 7,585 $ 2,322 Contract assets 9,745 14,672 (4,927) Total contract assets 19,652 22,257 (2,605) Contract liabilities Deferred revenue $ 38,050 $ 41,267 $ (3,217) During the year ended December 31, 2020, we recognized revenue of $36.2 million that was included in the contract liabilities balance at the beginning of the period. The amount of revenue recognized during the year ended December 31, 2020, from performance obligations partially satisfied in previous periods as a result of changes in the estimates of variable consideration was $16.7 million. Each of the Company's contracts has an expected duration of one year or less. |
Credit Losses
Credit Losses | 12 Months Ended |
Dec. 31, 2020 | |
Credit Loss [Abstract] | |
Allowance for Doubtful Accounts | The Company is exposed to credit losses primarily through the provision of its executive search and consulting services. The Company’s expected credit loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. Due to the short-term nature of such receivables, the estimate of amount of accounts receivable that may not be collected is primarily based on historical loss-rate experience. When required, the Company adjusts the loss-rate methodology to account for current conditions and reasonable and supportable expectations of future economic and market conditions. The Company generally assesses future economic conditions for a period of sixty to ninety days, which corresponds with the contractual life of its accounts receivables. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic and determined that the estimate of credit losses was not significantly impacted. The activity in the allowance for credit losses on the Company's trade receivables is as follows: December 31, 2020 2019 2018 Balance at January 1, $ 5,140 $ 3,502 $ 2,534 Provision for credit losses 6,696 5,900 3,790 Write-offs (5,418) (4,270) (2,708) Foreign currency translation 139 8 (114) Balance at December 31, $ 6,557 $ 5,140 $ 3,502 The fair value and unrealized losses on available for sale debt securities, aggregated by investment category and the length of time the security has been in an unrealized loss position, are as follows: Less Than 12 Months Balance Sheet Classification Balance at December 31, 2020 Fair Value Unrealized Loss Cash and Cash Equivalents Marketable Securities U.S. Treasury securities $ 31,997 $ 1 $ 31,997 $ — The unrealized loss on one investment in U.S. Treasury securities at December 31, 2020 was caused by fluctuations in market interest rates. The contractual cash flows of these investments are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the investments would not be settled at a price less than the amortized cost basis. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before the recovery of the amortized cost basis. There were no investments with unrealized losses at December 31, 2019. |
Property and Equipment, net
Property and Equipment, net | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, net | The components of the Company’s property and equipment are as follows: December 31, 2020 2019 Leasehold improvements $ 40,320 $ 47,269 Office furniture, fixtures and equipment 14,816 17,740 Computer equipment and software 25,544 27,531 Property and equipment, gross 80,680 92,540 Accumulated depreciation (57,188) (63,890) Property and equipment, net $ 23,492 $ 28,650 Depreciation expense for the years ended December 31, 2020, 2019 and 2018, was $8.1 million, $9.5 million and $11.0 million, respectively. Additionally, as part of the Company's restructuring plan, property and equipment located at certain of the Company's offices was abandoned and the useful life of the assets were shortened to correspond with the cease-use date. As a result of the change in the useful life, approximately $4.2 million of depreciation expense was accelerated and recorded in Restructuring charges in the Consolidated Statements of Comprehensive Income (Loss) and Depreciation and amortization in the Consolidated Statements of Cash Flows during the year ended December 31, 2020. |
Leases, Codification Topic 842
Leases, Codification Topic 842 | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Lessee, Operating Leases | The Company's lease portfolio is comprised of operating leases for office space and equipment. The majority of the Company's leases include both lease and non-lease components, which the Company accounts for differently depending on the underlying class of asset. Certain of the Company's leases include one or more options to renew or terminate the lease at the Company's discretion. Generally, the renewal and termination options are not included in the right-of-use assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates the renewal and termination options and when they are reasonably certain of exercise, includes the renewal or termination option in our lease term. As most of the Company's leases do not provide an implicit interest rate, the Company utilizes its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company has a centrally managed treasury function; therefore, a portfolio approach is applied in determining the incremental borrowing rate. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a fully collateralized basis over a similar term in an amount equal to the total lease payments in a similar economic environment. Office leases have remaining lease terms that range from less than 1 year to 12.5 years, some of which also include options to extend or terminate the lease. Most office leases contain both fixed and variable lease payments. Variable lease costs consist primarily of rent escalations based on an established index or rate and taxes, insurance, and common area or other maintenance costs, which are paid based on actual costs incurred by the lessor. The Company has elected to utilize the available practical expedient to not separate lease and non-lease components for office leases. As part of the Company's restructuring plan, lease components related to certain of the Company's offices were abandoned and the useful life of the associated right-of-use asset was shortened to correspond with the cease-use date. As a result of the change in the useful life, approximately $13.7 million of right-of-use asset amortization was accelerated and recorded in Restructuring charges in the Consolidated Statements of Comprehensive Income (Loss) and Depreciation and amortization in the Consolidated Statements of Cash Flows during the year ended December 31, 2020. Equipment leases, which are comprised of vehicle and office equipment leases, have remaining terms that range from less than 1 year to 5.0 years, some of which also include options to extend or terminate the lease. The Company's equipment leases do not contain variable lease payments. The Company separates the lease and non-lease components for its equipment leases. Equipment leases do not comprise a significant portion of the Company's lease portfolio. Lease cost components included within General and Administrative Expenses in our Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, were as follows: December 31, 2020 2019 Operating lease cost $ 22,227 $ 24,928 Variable lease cost 6,047 7,932 Total lease cost $ 28,274 $ 32,860 Rent expense, as previously defined under ASC 840, which includes the base rent, maintenance costs, operating expenses and real estate taxes, and the costs of equipment leases for the year ended December 31, 2018, was $33.2 million. Supplemental cash flow information related to the Company's operating leases for the year ended December 31, is as follows: December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 31,573 $ 33,797 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 31,829 $ 19,640 The weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31, is as follows: December 31, 2020 2019 Weighted Average Remaining Lease Term Operating leases 6.0 years 4.7 years Weighted Average Discount Rate Operating leases 3.5 % 3.9 % The future maturities of the Company's operating lease liabilities for the years ended December 31, is as follows: Operating Lease Maturity 2021 $ 28,089 2022 25,803 2023 23,822 2024 14,030 2025 6,726 Thereafter 30,226 Total lease payments 128,696 Less: Interest (12,896) Present value of lease liabilities $ 115,800 The Company has an obligation at the end of the lease term to return certain offices to the landlord in its original condition, which is recorded at fair value at the time the liability is incurred. The Company had $3.3 million and $3.0 million of asset retirement obligations as of December 31, 2020 and 2019, respectively, which are recorded within Other current liabilities and Other non-current liabilities in the Consolidated Balance Sheets. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Cash, Cash Equivalents and Marketable Securities The Company's investments in marketable debt securities, which consist of U.S. Treasury bills and commercial paper, are classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument's underlying contractual maturity date. Unrealized gains and losses on marketable debt securities classified as available-for-sale are recognized in Accumulated other comprehensive income in the Consolidated Balance Sheets until realized. The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows: Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2020 Cash $ 230,490 $ — Level 1 (1) : Money market funds 53,986 U.S. Treasury securities 51,996 1 (1) 51,996 31,997 19,999 Total Level 1 51,996 1 (1) 51,996 85,983 19,999 Total $ 51,996 $ 1 $ (1) $ 51,996 $ 316,473 $ 19,999 Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2019 Cash $ 177,493 $ — Level 1 (1) : Money market funds 15,661 — U.S. Treasury securities 139,705 13 — 139,718 78,565 61,153 Total Level 1 139,705 13 — 139,718 94,226 61,153 Total $ 139,705 $ 13 $ — $ 139,718 $ 271,719 $ 61,153 (1) Level 1 – Quoted prices in active markets for identical assets and liabilities. Investments, Assets Designated for Retirement and Pension Plans and Associated Liabilities The Company has a U.S. non-qualified deferred compensation plan that consists primarily of U.S. marketable securities and mutual funds. The aggregate cost basis for these investments was $19.5 million and $17.2 million as of December 31, 2020 and December 31, 2019, respectively. The Company also maintains a pension plan for certain current and former employees in Germany. The pensions are individually fixed Euro amounts that vary depending on the function and the eligible years of service of the employee. The Company’s investment strategy is to support its pension obligations through reinsurance contracts. The BaFin—German Federal Financial Supervisory Authority—supervises the insurance companies and the reinsurance contracts. The BaFin requires each reinsurance contract to guarantee a fixed minimum return. The Company’s pension benefits are fully reinsured by group insurance contracts with ERGO Lebensversicherung AG, and the group insurance contracts are measured in accordance with BaFin guidelines (including mortality tables and discount rates) which are considered Level 2 inputs. The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value on a recurring basis: Balance Sheet Classification Fair Value Other Current Assets Goodwill Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2020 Measured on a recurring basis: Level 1 (1) : U.S. non-qualified deferred compensation plan $ 31,369 $ — — $ — $ 31,369 $ — $ — Level 2 (2) : Retirement and pension plan assets 15,859 1,434 — 14,425 — — — Pension benefit obligation (22,351) — — — — (1,434) (20,917) Total Level 2 (6,492) 1,434 — 14,425 — (1,434) (20,917) Measured on a non-recurring basis: Level 3 (3)(4) : Goodwill 91,643 91,643 Total $ 116,520 $ 1,434 91,643 $ 14,425 $ 31,369 $ (1,434) $ (20,917) Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2019 Level 1 (1) : U.S. non-qualified deferred compensation plan $ 25,409 $ — $ — $ 25,409 $ — $ — Level 2 (2) : Retirement and pension plan assets 15,296 1,318 13,978 — — — Pension benefit obligation (20,918) — — — (1,318) (19,600) Total Level 2 (5,622) 1,318 13,978 — (1,318) (19,600) Total $ 19,787 $ 1,318 $ 13,978 $ 25,409 $ (1,318) $ (19,600) (1) Level 1 – Quoted prices in active markets for identical assets and liabilities. (2) Level 2 – Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. (3) Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. (4) In accordance with Subtopic 350-20, goodwill with a carrying value of $33.0 million was written down to its implied fair value of zero, resulting in the revised total goodwill of $91.6 million and an impairment charge of $33.0 million in earnings. Contingent Consideration The former owners of the Company's acquisitions are eligible to receive additional cash consideration based on the attainment of certain operating metrics in the periods subsequent to acquisition. Contingent consideration is valued using significant inputs that are not observable in the market which are defined as Level 3 inputs pursuant to fair value measurement accounting. The Company determines the fair value of contingent consideration using discounted cash flow models. Contingent consideration is recorded within non-current Accrued salaries and benefits in the Consolidated Balance Sheets. The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the year ended December 31, 2020: Acquisition Contingent Compensation Accruals Balance at December 31, 2019 $ (5,278) $ (618) Earnout accretion/compensation expense — (1,942) Payments 5,051 — Foreign currency translation 227 170 Balance at December 31, 2020 $ — $ (2,390) Goodwill Goodwill represents the difference between the purchase price of acquired companies and the related fair value of the net assets acquired, which is accounted for by the acquisition method of accounting. The Company performs assessments of the carrying value of goodwill at least annually and whenever events occur or circumstances indicate that a carrying amount of goodwill may not be recoverable. During the three months ended June 30, 2020, an interim goodwill impairment evaluation was conducted to determine the fair value of goodwill resulting in an impairment of $33.0 million. On October 31, 2020, the Company conducted its annual goodwill impairment evaluation in accordance with ASU No. 2017-04, Intangibles - Goodwill and Other, which indicated that the fair value of the Americas reporting unit was in excess of its carrying value and no impairment was necessary. Goodwill is valued using significant inputs that are not observable in the market which are defined as Level 3 inputs pursuant to fair value measurement accounting. The Company determines the fair value of goodwill using discounted cash flow models. The following table provides a reconciliation of the beginning and ending balance of Level 3 assets for the twelve months ended December 31, 2020: Goodwill Balance at December 31, 2019 $ 126,831 Impairment (32,970) Foreign currency translation (2,218) Balance at December 31, 2020 $ 91,643 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill The Company's goodwill by segment is as follows: December 31, 2020 December 31, 2019 Executive Search Americas $ 91,643 $ 92,497 Europe — 25,579 Asia Pacific — 8,755 Total goodwill $ 91,643 $ 126,831 Changes in the carrying amount of goodwill by segment for the years ended December 31, 2020, 2019, and 2018 were as follows: Executive Search Americas Europe Asia Pacific Total Goodwill $ 88,690 $ 20,900 $ 9,302 $ 118,892 Accumulated impairment losses — — — — Balance at December 31, 2017 88,690 20,900 9,302 118,892 Amrop acquisition — 5,478 — 5,478 Foreign currency translation (280) (1,454) (544) (2,278) Balance at December 31, 2018 88,410 24,924 8,758 122,092 2GET acquisition 3,793 — — 3,793 Foreign currency translation 294 655 (3) 946 Balance at December 31, 2019 92,497 25,579 8,755 126,831 Impairment — (24,475) (8,495) (32,970) Foreign currency translation (854) (1,104) (260) (2,218) Goodwill 91,643 24,475 8,495 124,613 Accumulated impairment losses — (24,475) (8,495) (32,970) Balance at December 31, 2020 $ 91,643 $ — $ — $ 91,643 During the three months ended June 30, 2020, and as a direct result of the economic impact of COVID-19, the Company experienced a decline in demand for our executive search services and a lengthening of the executive search process due to a slow-down in client decision making, which had a material adverse impact on our results of operations. As a result, the Company identified a triggering event and performed an interim goodwill impairment evaluation. During the impairment evaluation process, the Company used a discounted cash flow methodology to estimate the fair value of its reporting units. The discounted cash flow approach is dependent on a number of factors, including estimates of future market growth and trends, forecasted revenue and costs, capital investments, appropriate discount rates, certain assumptions to allocate shared costs, assets and liabilities, historical and projected performance of the reporting unit, and the macroeconomic conditions affecting each of the Company’s reporting units. The assumptions used in the determination of fair value were (1) a forecast of growth in the near and long term; (2) the discount rate; (3) working capital investments; (4) macroeconomic conditions and (5) other factors. Based on the results of the impairment evaluation, the Company determined that the goodwill within the Europe and Asia Pacific reporting units was impaired, which resulted in an impairment charge of $24.5 million in Europe and $8.5 million in Asia Pacific to write-off all of the goodwill associated with each reporting unit. The impairment charge is recorded within Impairment charges in the Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2020. The impairment was non-cash in nature and did not affect our current liquidity, cash flows, borrowing capability or operations; nor did it impact the debt covenants under our credit agreement. During the 2020 fourth quarter, the Company conducted its annual goodwill impairment evaluation as of October 31, 2020 in accordance with ASU No. 2017-04, Intangibles - Goodwill and Other for the Company's remaining goodwill in the Americas reporting unit. The goodwill impairment test is completed by comparing the fair value of a reporting unit, calculated as described above, with its carrying amount. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit. Based on the results of the impairment analysis, the fair value of the Americas reporting unit exceeded its carrying value by an amount in excess of 100%. The Company continues to monitor potential triggering events for its Americas reporting unit including changes in the business climate in which it operates, the Company’s market capitalization compared to its book value, and the Company’s recent operating performance. Any changes in these factors could result in a further impairment charge. Other Intangible Assets, net The Company’s other intangible assets, net by segment, are as follows: December 31, 2020 December 31, 2019 Executive Search Americas $ 225 $ 557 Europe 852 1,314 Asia Pacific 52 64 Total Other Intangible Assets, Net $ 1,129 $ 1,935 The carrying amount of amortizable intangible assets and the related accumulated amortization were as follows: December 31, 2020 December 31, 2019 Weighted Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships 6.6 $ 16,600 $ (15,587) $ 1,013 $ 16,302 $ (14,683) $ 1,619 Trade name 5.0 280 (164) 116 362 (46) 316 Total intangible assets 6.4 $ 16,880 $ (15,751) $ 1,129 $ 16,664 $ (14,729) $ 1,935 Intangible asset amortization expense for the years ended December 31, 2020, 2019 and 2018, was $0.7 million, $0.9 million and $1.5 million, respectively. The Company's estimated future amortization expense related to intangible assets as of December 31, 2020 for the years ended December 31, is as follows: 2021 496 2022 318 2023 189 2024 77 2025 49 Total 1,129 |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2020 | |
Prepaid Expense and Other Assets, Current [Abstract] | |
Other Current Assets [Text Block] | The components of other current assets are as follows: December 31, 2020 December 31, 2019 Contract assets $ 19,652 $ 22,257 Other 3,627 5,591 Total other current assets $ 23,279 $ 27,848 |
Line of Credit
Line of Credit | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Line of Credit | On October 26, 2018, the Company entered into a new Credit Agreement (the "2018 Credit Agreement") to replace the Second Amended and Restated Credit Agreement (the "Restated Credit Agreement") executed on June 30, 2015. The 2018 Credit Agreement provides the Company with a senior unsecured revolving line of credit with an aggregate commitment of $175 million, which includes a sublimit of $25 million for letters of credit, and a $10 million swingline loan sublimit. The agreement also includes a $75 million expansion feature. The 2018 Credit Agreement will mature in October 2023. Borrowings under the 2018 Credit Agreement bear interest at the Company's election of the Alternate Base Rate (as defined in the 2018 Credit Agreement) or Adjusted LIBOR (as defined in the 2018 Credit Agreement) plus a spread as determined by the Company’s leverage ratio. Borrowings under the 2018 Credit Agreement may be used for working capital, capital expenditures, Permitted Acquisitions (as defined in the 2018 Credit Agreement) and for other general purposes of the Company and its subsidiaries. The obligations under the 2018 Credit Agreement are guaranteed by certain of the Company's subsidiaries. The Company capitalized approximately $1.0 million of loan acquisition costs related to the 2018 Credit Agreement, which will be amortized over the remaining term of the agreement. During the three months ended March 31, 2020, the Company borrowed $100.0 million under the 2018 Credit Agreement. The Company elected to draw down a portion of the available funds from its revolving line of credit as a precautionary measure to increase its cash position and further enhance its financial flexibility in light of current uncertainty in the global markets resulting from the COVID-19 outbreak. The Company subsequently repaid $100.0 million during the three months ended September 30, 2020. During the three months ended March 31, 2018, the Company borrowed $20 million under the Restated Credit Agreement and elected the Adjusted LIBOR rate. The Company subsequently repaid $8 million during the three months ended March 31, 2018 and $12 million during the three months ended June 30, 2018. As of December 31, 2020, and 2019, the Company had no outstanding borrowings under the 2018 Credit Agreement. The Company was in compliance with the financial and other covenants under the 2018 Credit Agreement and no event of default existed. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2020 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plans | Qualified Retirement Plan The Company has a defined contribution retirement plan (the “Plan”) for all eligible employees in the United States. Eligible employees may begin participating in the Plan upon their hire date. The Plan contains a 401(k) provision, which provides for employee pre-tax and/or after-tax contributions, from 1% to 50% of their eligible compensation up to a combined maximum permitted by law. The Company matched employee contributions on a dollar-for-dollar basis per participant up to the greater of $6,000, or 6.0%, of eligible compensation for the years ended December 31, 2020, 2019 and 2018. Employees are eligible for the Company match immediately upon entry into the plan. Those contributions vest annually, provided the employee is employed by the Company on the last day of the Plan year in which the match is made. The Plan also provides for employees who retire, die or become disabled during the Plan year to receive the Company match for that Plan year. The Plan provides that forfeitures will be used to reduce the Company’s contributions. Forfeitures are created annually by participants who terminate employment before becoming entitled to the Company’s matching contribution under the Plan. The Company also has the option of making discretionary contributions. There were no discretionary contributions made for the years ended December 31, 2020, 2019 and 2018. The expense that the Company incurred for matching employee contributions for the years ended December 31, 2020, 2019 and 2018, was $5.7 million, $6.3 million and $5.7 million, respectively. The Company maintains additional retirement plans in the Americas, Europe and Asia Pacific regions which the Company does not consider as material and, therefore, additional disclosure has not been presented. Deferred Compensation Plans The Company has a deferred compensation plan for certain U.S. employees (the “U.S. Plan”) that became effective on January 1, 2006. The U.S. Plan allows participants to defer up to 25% of their base compensation and up to the lesser of $500,000 or 25% of their eligible bonus compensation into several different investment vehicles. These deferrals are immediately vested and are not subject to a risk of forfeiture. In 2020 and 2019, all deferrals in the U.S. Plan were funded. The compensation deferred in the U.S. Plan was $30.5 million and $23.8 million at December 31, 2020 and 2019, respectively. The assets of the U.S. Plan are included in Investments and the liabilities of the U.S. Plan are included in Retirement and pension plans in the Consolidated Balance Sheets as of December 31, 2020 and 2019. The Company has a Non-Employee Directors Voluntary Deferred Compensation Plan whereby non-employee members of the Company’s Board of Directors may elect to defer up to 100% of the cash component of their directors’ fees into several different investment vehicles. As of December 31, 2020, and 2019, the total amounts deferred under the plan were $0.9 million and $1.6 million, respectively, all of which were funded. The assets of the plan are included in Investments and the liabilities of the plan are included in Retirement and pension plans in the Consolidated Balance Sheets at December 31, 2020 and 2019. The U.S. and Non-Employee Directors Voluntary Deferred Compensation Plans consist primarily of marketable securities and mutual funds, all of which are valued using Level 1 inputs (See Note 7, Financial Instruments and Fair Value ). |
Pension Plan and Life Insurance
Pension Plan and Life Insurance Contract Pension Plan and Life Insurance Contract (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | The Company maintains a pension plan for certain current and former employees in Germany. The pensions are individually fixed Euro amounts that vary depending on the function and the eligible years of service of the employee. 2020 2019 Benefit obligation at January 1, $ 20,918 $ 20,908 Interest cost 212 338 Actuarial loss 790 1,506 Benefits paid (1,402) (1,375) Cumulative translation adjustment 1,833 (459) Benefit obligation at December 31, $ 22,351 $ 20,918 The benefit obligation amounts recognized in the Consolidated Balance Sheets are as follows: December 31, 2020 2019 Current liabilities $ 1,434 $ 1,318 Noncurrent liabilities 20,917 19,600 Total $ 22,351 $ 20,918 The components of and assumptions used to determine the net periodic benefit cost are as follows: December 31, 2020 2019 2018 Net period benefit cost: Interest cost $ 212 $ 338 $ 373 Amortization of net loss 140 35 92 Net periodic benefit cost $ 352 $ 373 $ 465 Weighted average assumptions Discount rate (1) 1.03 % 1.71 % 1.64 % Rate of compensation increase — % — % — % Assumptions to determine the Company’s benefit obligation are as follows: December 31, 2020 2019 2018 Discount rate (1) 0.72 % 1.03 % 1.71 % Rate of compensation increase — % — % — % Measurement Date 12/31/2020 12/31/2019 12/31/2018 (1) The discount rates are based on long-term bond indices adjusted to reflect the longer duration of the benefit obligation. The amounts in Accumulated other comprehensive income as of December 31, 2020 and 2019, that had not yet been recognized as components of net periodic benefit cost were $5.1 million and $4.0 million, respectively. As of December 31, 2020, an insignificant amount of the accumulated other comprehensive income is expected to be recognized as a component of net periodic benefit cost in 2021. The Company’s investment strategy is to support its pension obligations through reinsurance contracts. The BaFin—German Federal Financial Supervisory Authority—supervises the insurance companies and the reinsurance contracts. The BaFin requires each reinsurance contract to guarantee a fixed minimum return. The Company’s pension benefits are fully reinsured by group insurance contracts with ERGO Lebensversicherung AG, and the group insurance contracts are measured in accordance with BaFin guidelines (including mortality tables and discount rates) which are considered Level 2 inputs (See Note 7, Financial Instruments and Fair Value ). The fair value at December 31, 2020 and 2019, was $15.9 million and $15.3 million, respectively. Since the pension assets are not segregated in trust from the Company’s other assets, the pension assets are not shown as an offset against the pension liabilities in the Consolidated Balance Sheets. These assets are included in the Consolidated Balance Sheets at December 31, 2020 and 2019, as a component of Other current assets and Assets designated for retirement and pension plans . The benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter are as follows: 2021 1,434 2022 1,415 2023 1,393 2024 1,367 2025 1,335 2025 through 2029 6,034 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement | On May 28, 2020, the stockholders of the Company approved an amendment to the Company's Second Amended and Restated 2012 Heidrick & Struggles GlobalShare Program (as so amended, the "Third A&R 2012 Program") to increase the number of shares of Common Stock reserved for issuance under the 2012 Program by 500,000 shares. The Third A&R 2012 Program provides for grants of stock options, stock appreciation rights, and other stock-based compensation awards that are valued based upon the grant date fair value of shares. These awards may be granted to directors, selected employees and independent contractors. As of December 31, 2020, 3,001,357 awards have been issued under the Third A&R 2012 Program and 1,057,037 shares remain available for future awards, including 708,394 forfeited awards. The Third A&R 2012 Program provides that no awards can be granted after May 24, 2028. The Company measures its stock-based compensation costs based on the grant date fair value of the awards and recognizes these costs in the financial statements over the requisite service period. A summary of information with respect to stock-based compensation is as follows: December 31, 2020 2019 2018 Salaries and employee benefits (1) $ 12,968 $ 12,857 $ 9,548 General and administrative expenses 460 460 562 Income tax benefit related to stock-based compensation included in net income 3,571 3,529 2,674 (1) Includes $3.2 million, $3.0 million and $1.2 million of expense related to cash settled restricted stock units for the years ended December 31, 2020, 2019 and 2018, respectively. Restricted Stock Units Restricted stock units are generally subject to ratable vesting over a three four Restricted stock unit activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Number of Weighted- Outstanding on December 31, 2018 512,446 $ 28.83 Granted 270,488 33.55 Vested and converted to common stock (175,792) 24.19 Forfeited (8,154) 34.29 Outstanding on December 31, 2019 598,988 32.25 Granted 329,068 22.20 Vested and converted to common stock (194,921) 29.67 Forfeited (25,271) 30.62 Outstanding on December 31, 2020 707,864 $ 28.35 As of December 31, 2020, there was $7.1 million of pre-tax unrecognized compensation expense related to unvested restricted stock units, which is expected to be recognized over a weighted average of 2.3 years. Performance Stock Units The Company grants performance stock units to certain of its senior executives. The performance stock units are generally subject to a cliff vesting at the end of a three three three Beginning in 2019, performance stock units were granted to certain employees of the Company and are subject to a cliff vesting period of three years and certain other performance conditions. Half of the award is based on the achievement of certain operating margin thresholds and half of the award is based on the Company's total shareholder return, relative to a peer group. The fair value of the awards based on total shareholder return was determined using the Monte-Carlo simulation model. A Monte Carlo simulation model uses stock price volatility and other variables to estimate the probability of satisfying the performance conditions and the resulting fair value of the award. Performance share unit activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Number of Weighted- Outstanding on December 31, 2018 197,117 $ 24.88 Granted 81,661 35.58 Vested and converted to common stock (99,219) 25.04 Forfeited — — Outstanding on December 31, 2019 179,559 32.63 Granted 105,847 23.52 Vested and converted to common stock (50,472) 26.69 Forfeited — — Outstanding on December 31, 2020 234,934 $ 29.80 As of December 31, 2020, there was $4.0 million of pre-tax unrecognized compensation expense related to unvested performance stock units, which is expected to be recognized over a weighted average of 1.7 years. Phantom Stock Units Phantom stock units are grants of phantom stock with respect to shares of the Company's common stock that are settled in cash and are subject to various restrictions, including restrictions on transferability, vesting and forfeiture provisions. Shares of phantom stock that do not vest for any reason will be forfeited by the recipient and will revert to the Company. Phantom stock units are subject to vesting over a period of four years and certain other conditions, including continued service to the Company. As a result of the cash-settlement feature of the awards, the Company considers the awards to be liability awards, which are measured at fair value at each reporting date and the vested portion of the award is recognized as a liability to the extent that the service condition is deemed probable. The fair value of the phantom stock awards on the balance sheet date, was determined using the closing share price of the Company's common stock on that date. The Company recorded phantom stock-based compensation expense of $3.2 million and $3.0 million for the years ended December 31, 2020 and December 31, 2019, respectively. Phantom stock unit activity for the years ended December 31, 2020, 2019, and 2018 is as follows: Number of Outstanding on December 31, 2018 111,673 Granted 154,387 Vested — Forfeited — Outstanding on December 31, 2019 266,060 Granted 118,596 Vested (21,346) Forfeited (11,676) Outstanding on December 31, 2020 351,634 As of December 31, 2020, there was $4.1 million of pre-tax unrecognized compensation expense related to unvested phantom stock units, which is expected to be recognized over a weighted average of 2.9 years. |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Changes in Accumulated Other Comprehensive Income | The changes in Accumulated other comprehensive income (“AOCI”) by component for the year ended December 31, 2020, are summarized below: Available- Foreign Pension AOCI Balance at December 31, 2019 $ 13 $ 6,102 $ (2,291) $ 3,824 Other comprehensive income (loss) before classification, net of tax (13) 82 (476) (407) Balance at December 31, 2020 — $ 6,184 $ (2,767) $ 3,417 |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | Restructuring Charges During the year ended December 31, 2020, the Company implemented a restructuring plan to optimize future growth and profitability. The primary components of the restructuring included a workforce reduction, a reduction of the Company's real estate expenses and professional fees, and the elimination of certain deferred compensation programs. The Company recorded restructuring charges of $30.5 million in the Americas, $8.6 million in Europe, $4.6 million in Asia Pacific, $4.7 million in Heidrick Consulting and $4.0 million in Global Operations Support. The Company anticipates future restructuring charges of $7.0 million to $10.0 million related to further real estate optimization will be recognized in 2021. During the year ended December 31, 2019, the Company recorded restructuring charges of $4.1 million related to the closing of the Company's legacy Brazil operations due to the acquisition of 2GET Holdings Limited. The restructuring charges primarily consist of employee-related costs for the Company's legacy Brazil operations. The America's incurred $4.1 million in restructuring charges, while Global Operations Support incurred less than $0.1 million in restructuring charges. Restructuring charges by operating segment for the years ended December 31, 2020, 2019, and 2018 were as follows: December 31, 2020 2019 2018 Executive Search Americas $ 30,479 $ 4,102 $ — Europe 8,603 — — Asia Pacific 4,614 — — Total Executive Search 43,696 4,102 — Heidrick Consulting 4,657 — — Global Operations Support 4,019 28 — Total restructuring $ 52,372 $ 4,130 $ — Changes in the restructuring accrual for the years ended December 31, 2020, 2019, and 2018 were as follows: Employee Related Office Related Other Total Accrual balance at December 31, 2017 11,866 148 1,011 13,025 Cash payments (8,689) (248) (993) (9,930) Non-cash write-offs — 195 — 195 Other (1,843) (95) 5 (1,933) Exchange rate fluctuations (65) — (6) (71) Accrual balance at December 31, 2018 1,269 — 17 1,286 Restructuring charges 4,130 — — 4,130 Cash payments (2,213) — — (2,213) Non-cash write-offs — — (17) (17) Other 4 — — 4 Exchange rate fluctuations 55 — — 55 Accrual balance at December 31, 2019 3,245 — — 3,245 Restructuring charges 32,780 18,910 682 52,372 Cash payments (11,443) (138) (682) (12,263) Non-cash write-offs (1,633) (17,823) — (19,456) Other (173) — — (173) Exchange rate fluctuations (464) 4 — (460) Accrual balance at December 31, 2020 $ 22,312 $ 953 $ — $ 23,265 Restructuring accruals of are recorded within Other current liabilities in the Consolidated Balance Sheets with the exception of certain employee related accruals. Accruals associated with the elimination of certain deferred compensation programs of $7.2 million and $11.3 million are recorded within current and non-current Accrued salaries and benefits , respectively, as of December 31, 2020. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | The sources of income (loss) before income taxes are as follows: December 31, 2020 2019 2018 United States $ 11,346 $ 53,461 $ 47,191 Foreign (42,744) 15,828 23,301 Income (loss) before income taxes $ (31,398) $ 69,289 $ 70,492 The provision for income taxes are as follows: December 31, 2020 2019 2018 Current Federal $ 4,469 $ 11,311 $ 12,311 State and local 1,948 4,422 4,843 Foreign 2,172 4,423 6,907 Current provision for income taxes 8,589 20,156 24,061 Deferred Federal (2,416) 2,031 6,403 State and local (697) 698 (354) Foreign 833 (465) (8,913) Deferred provision (benefit) for income taxes (2,280) 2,264 (2,864) Total provision for income taxes $ 6,309 $ 22,420 $ 21,197 A reconciliation of the provision for income taxes to income taxes at the statutory U.S. federal income tax rate of 21% is as follows: December 31, 2020 2019 2018 Income tax provision (benefit) at the statutory U.S. federal rate $ (6,594) $ 14,551 $ 14,803 State income tax provision, net of federal tax benefit 735 3,509 3,242 Nondeductible expenses, net 7,065 1,570 1,651 Foreign taxes (includes rate differential and changes in foreign valuation allowance) 4,470 698 (35) Establishment (release) of valuation allowance 566 (117) (43) Additional U.S. tax on foreign operations — 2,550 1,628 Current/deferred items (505) (157) (1,199) Other, net 572 (184) 1,150 Total provision for income taxes $ 6,309 $ 22,420 $ 21,197 The deferred tax assets and liabilities are attributable to the following components: December 31, 2020 2019 Deferred tax assets attributable to: Operating lease liability and accrued rent $ 22,765 $ 20,371 Foreign net operating loss carryforwards 19,721 17,940 Accrued compensation and employee benefits 18,553 14,506 Deferred compensation 17,376 17,110 Foreign tax credit carryforwards 5,196 6,493 Other accrued expenses 4,350 5,882 Deferred tax assets, before valuation allowance 87,961 82,302 Valuation allowance (25,218) (24,200) Deferred tax assets, after valuation allowance 62,743 58,102 Deferred tax liabilities attributable to: Operating lease, right-of-use, assets 17,526 17,716 Goodwill 7,625 5,440 Depreciation on property and equipment 1,172 1,652 Other 533 533 Deferred tax liabilities 26,856 25,341 Net deferred tax assets $ 35,887 $ 32,761 The recognition of deferred tax assets is based on management’s belief that it is more likely than not that the tax benefits associated with temporary differences, net operating loss carryforwards and tax credits will be utilized. The Company assesses the recoverability of the deferred tax assets on an ongoing basis. In making this assessment, the Company considers all positive and negative evidence, and all potential sources of taxable income including scheduled reversals of deferred tax liabilities, tax-planning strategies, projected future taxable income and recent financial performance. Certain of the Company’s deferred tax liabilities, based on jurisdictional netting, of $0.1 million and $0.3 million are included in Other non-current liabilities on the Consolidated Balance Sheets at December 31, 2020 and 2019, respectively. The valuation allowance increased from $24.2 million at December 31, 2019 to $25.2 million at December 31, 2020. The valuation allowance at December 31, 2020 was related to foreign net operating loss carryforwards, foreign tax credit carryforwards, and certain foreign deferred tax assets. The Company intends to maintain these valuation allowances until sufficient evidence exists to support their reversal. At December 31, 2020, the Company had a net operating loss carryforward of $128.1 million related to its foreign tax filings. Of the $128.1 million net operating loss carryforward, $87.9 million is subject to a valuation allowance. Depending on the tax rules of the tax jurisdictions, the losses can be carried forward indefinitely or for periods ranging from five to twenty years. The Company also has a foreign tax credit carryforward of $5.2 million subject to a valuation allowance of $5.2 million. At December 31, 2019, the Company had a net operating loss carryforward of $116.1 million related to its foreign tax filings. Of the $116.1 million net operating loss carryforward, $76.9 million was subject to a valuation allowance. Depending on the tax rules of the tax jurisdictions, the losses can be carried forward indefinitely or for periods ranging from five to twenty years. The Company also has a foreign tax credit carryforward of $6.5 million subject to a valuation allowance of $6.5 million. As of December 31, 2019, the Company had $0.1 million of unrecognized tax benefits. As of December 31, 2020, the Company had $0.4 million of unrecognized tax benefits which, if recognized, would be recorded as a component of income tax expense. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: December 31, 2020 2019 2018 Gross unrecognized tax benefits at January 1, $ 130 $ 1,128 $ 740 Gross increases for tax positions of prior years 500 389 608 Gross decreases for tax positions of prior years (31) (377) — Settlements (183) (1,010) (220) Gross unrecognized tax benefits at December 31, $ 416 $ 130 $ 1,128 In many cases the Company’s uncertain tax positions are related to tax years that remain subject to examination by the relevant taxable authorities. Years 2017 through 2019 are subject to examination by the state taxing authorities. The years 2017 through 2019 are also subject to examination by the federal taxing authority. There are certain foreign jurisdictions that are subject to examination for years prior to 2017. The Company is currently under audit by some jurisdictions. It is likely that the examination phase of several of these audits will conclude in the next twelve Estimated interest and penalties related to the underpayment of income taxes are classified as a component of the provision for income taxes in the Consolidated Statements of Comprehensive Income (Loss). Accrued interest and penalties are less than $0.1 million as of December 31, 2020. The Global Intangible Low-Taxed Income (“GILTI”) provisions require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company will be subject to incremental U.S. tax on GILTI income beginning in 2018, due to expense allocations required by the U.S. foreign tax credit rules. The Company has elected to account for GILTI tax in the period in which it is incurred, and therefore has not provided any deferred tax impacts of GILTI in its consolidated financial statements for the year ended December 31, 2020. The Base Erosion and Anti-Abuse Tax (“BEAT”) provisions in the Tax Reform Act eliminates the deduction of certain base-erosion payments made to related foreign corporations, and impose a minimum tax if greater than regular tax. The Company does not expect it will be subject to this tax and therefore has not included any tax impacts of BEAT in its consolidated financial statements for the year ended December 31, 2020. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Segment Information | The Company has four operating segments. The executive search business operates in the Americas, Europe (which includes Africa) and Asia Pacific (which includes the Middle East), and the Heidrick Consulting business operates globally. For segment purposes, reimbursements of out-of-pocket expenses classified as revenue and other operating income are reported separately and, therefore, are not included in the results of each segment. The Company believes that analyzing trends in revenue before reimbursements (net revenue), analyzing operating expenses as a percentage of net revenue, and analyzing operating income (loss) more appropriately reflects its core operations. The revenue, operating income, depreciation and amortization, and capital expenditures, by segment, are as follows: December 31, 2020 2019 2018 Revenue Executive Search Americas $ 361,416 $ 415,455 $ 405,267 Europe 124,243 135,070 145,348 Asia Pacific 79,511 95,827 102,276 Total Executive Search 565,170 646,352 652,891 Heidrick Consulting 56,445 60,572 63,132 Revenue before reimbursements 621,615 706,924 716,023 Reimbursements 7,755 18,690 19,632 Total revenue $ 629,370 $ 725,614 $ 735,655 Operating income (loss) Executive Search Americas (1) $ 62,806 $ 100,833 $ 96,880 Europe (2) (22,827) 3,026 5,849 Asia Pacific (3) (6,724) 13,590 15,999 Total Executive Search 33,255 117,449 118,728 Heidrick Consulting (4) (28,369) (18,499) (13,619) Total segments 4,886 98,950 105,109 Global Operations Support (5) (40,415) (35,439) (36,252) Total operating income (loss) $ (35,529) $ 63,511 $ 68,857 Depreciation and amortization Executive Search Americas $ 20,937 $ 4,204 $ 4,605 Europe 2,270 2,784 3,735 Asia Pacific 1,837 1,472 1,646 Total Executive Search 25,044 8,460 9,986 Heidrick Consulting 953 1,079 1,577 Total segments 25,997 9,539 11,563 Global Operations Support 659 832 959 Total depreciation and amortization $ 26,656 $ 10,371 $ 12,522 Capital expenditures Executive Search Americas $ 4,258 $ 1,121 $ 601 Europe 409 1,070 3,557 Asia Pacific 2,015 295 440 Total Executive Search 6,682 2,486 4,598 Heidrick Consulting 116 541 581 Total segments 6,798 3,027 5,179 Global Operations Support 524 325 1,006 Total capital expenditures $ 7,322 $ 3,352 $ 6,185 (1) Includes $30.5 million of restructuring charges in 2020 and $4.1 million of restructuring charges in 2019. (2) Includes $8.6 million of restructuring charges and $24.5 million of impairment charges in 2020. (3) Includes $4.6 million of restructuring charges and $8.5 million of impairment charges in 2020. (4) Includes $4.7 million of restructuring charges in 2020. (5) Includes $4.0 million of restructuring charges in 2020 and less than $0.1 million of restructuring charges in 2019. Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows: December 31, 2020 2019 Current assets Executive Search Americas $ 284,837 $ 286,818 Europe 84,841 96,230 Asia Pacific 76,523 78,967 Total Executive Search 446,201 462,015 Heidrick Consulting 24,546 30,628 Total segments 470,747 492,643 Global Operations Support 1,939 1,839 Total allocated current assets 472,686 494,482 Unallocated non-current assets 222,354 220,925 Goodwill and other intangible assets, net Executive Search Americas 91,868 93,054 Europe 852 26,893 Asia Pacific 52 8,819 Total Executive Search 92,772 128,766 Heidrick Consulting — — Total goodwill and other intangible assets, net 92,772 128,766 Total assets $ 787,812 $ 844,173 |
Guarantees
Guarantees | 12 Months Ended |
Dec. 31, 2020 | |
Guarantees [Abstract] | |
Guarantees | The Company has utilized letters of credit to support certain obligations, primarily the payment of office lease obligations and business license requirements for certain of its subsidiaries in Europe and Asia Pacific. The letters of credit were made to secure the respective agreements and are for the terms of the agreements, which extend through 2033. For each letter of credit issued, the Company would have use cash to fulfill the obligation if the subsidiary defaults on a lease payment. The maximum amount of undiscounted payments the Company would be required to make in the event of default on all outstanding letters of credit is approximately $5.4 million as of December 31, 2020. The Company has not accrued for these arrangements as no event of default exists or is expected to exist. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Litigation The Company has contingent liabilities from various pending claims and litigation matters arising in the ordinary course of the Company’s business, some of which involve claims for damages that are substantial in amount. Some of these matters are covered by insurance. Based upon information currently available, the Company believes the ultimate resolution of such claims and litigation will not have a material adverse effect on its financial condition, results of operations or liquidity. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three |
Marketable Securities, Policy | Marketable Securities The Company’s marketable securities consist of available-for-sale debt securities with original maturities exceeding three months. |
Concentration of Risk | Concentration of Risk The Company is potentially exposed to concentrations of risk associated with its accounts receivable. However, this risk is limited due to the Company’s large number of clients and their dispersion across many different industries and geographies. At December 31, 2020 and 2019, the Company had no significant concentrations of risk. |
Accounts Receivable | Accounts Receivable The Company’s accounts receivable consists of trade receivables. The Company’s expected credit loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. These factors may change over time, impacting the allowance level. See Note 4, Credit Losses . |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Cash equivalents are stated at cost, which approximates fair value. The carrying value for receivables from clients, accounts payable, deferred revenue and other accrued liabilities reasonably approximate fair value due to the nature of the financial instruments and the short-term nature of the items. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. |
Long-lived Assets | Other Intangible Assets and Long Lived Assets The Company reviews its other intangible assets and long-lived assets, including property and equipment and right-of-use assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of asset groups to be held and used is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset group exceeds the fair value of the asset group, is recognized. The Company evaluated the recoverability of its other intangible assets and long-lived assets during the three months ended June 30, 2020 and determined that the other intangible assets and long-lived assets were recoverable. The Company continues to monitor the impact of the economic downturn resulting from COVID-19 for additional potential impairment indicators related to other intangible assets and long-lived assets. |
Lessee, Leases | Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating Lease Right-of-Use Assets, Operating Lease Liabilities - Current and Operating Lease Liabilities - Non-Current in our Consolidated Balance Sheets. The Company does not have any leases that meet the finance lease criteria. Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. As most of the Company's leases do not provide an implicit rate, an incremental borrowing rate based on the information available at the commencement date is used in determining the present value of lease payments. The operating lease right-of-use asset also includes any lease payments made in advance and any accrued rent expense balances. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. For office leases, the Company accounts for the lease and non-lease components as a single lease component. For equipment leases, such as vehicles and office equipment, the Company accounts for the lease and non-lease components separately. |
Investments | Investments The Company’s investments consist primarily of available-for-sale investments within the U.S. non-qualified deferred compensation plan (the “Plan”). Available-for-sale investments are reported at fair value with changes in unrealized gains (losses) and realized gains (losses) recorded as a non-operating expense in Other, net in the Consolidated Statements of Comprehensive Income (Loss). |
Goodwill and Other Intangible Assets | Goodwill Goodwill represents the difference between the purchase price of acquired companies and the related fair value of the net assets acquired, which is accounted for by the acquisition method of accounting. The Company performs assessments of the carrying value of goodwill at least annually and whenever events occur or circumstances indicate that a carrying amount of goodwill may not be recoverable. These circumstances include a significant change in business climate, attrition of key personnel, changes in financial condition or results of operations, a prolonged decline in the Company’s stock price and market capitalization, competition, and other factors. The goodwill impairment test compares the fair value of a reporting unit to its carrying amount, including goodwill. The Company operates four reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East) and Heidrick Consulting. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. The fair value of each of the Company’s reporting units is determined using a discounted cash flow methodology. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit. During the three months ended June 30, 2020, and as a direct result of the economic impact of the COVID-19 pandemic, the Company experienced a decline in demand for our executive search and consulting services, a lengthening of the executive search process due to a slow-down in client decision making and an inability to execute in-person consulting engagements, which had a material negative impact on our results of operations. As a result, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the three months ended June 30, 2020. During the impairment evaluation process, the Company used a discounted cash flow methodology to estimate the fair value of its reporting units. The discounted cash flow approach is dependent on a number of factors, including estimates of future market growth and trends, forecasted revenue and costs, capital investments, appropriate discount rates, certain assumptions to allocate shared costs, assets and liabilities, historical and projected performance of the reporting unit, and the macroeconomic conditions affecting each of the Company’s reporting units. The assumptions used in the determination of fair value were (1) a forecast of growth in the near and long term; (2) the discount rate; (3) working capital investments; (4) macroeconomic conditions and (5) other factors. Based on the results of the impairment evaluation, the Company determined that the goodwill within the Europe and Asia Pacific reporting units was impaired, which resulted in an impairment charge of $24.5 million in Europe and $8.5 million in Asia Pacific to write-off all of the goodwill associated with each reporting unit. The impairment charge is recorded within Impairment charges in the Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2020. The impairment was non-cash in nature and did not affect our current liquidity, cash flows, borrowing capability or operations; nor did it impact the debt covenants under our credit agreement. The Company continues to monitor potential triggering events for its Americas reporting unit including changes in the business climate in which it operates, the Company’s market capitalization compared to its book value, and the Company’s recent operating performance. Any changes in these factors could result in a further impairment charge. |
Restructuring Charges | Restructuring Charges The Company accounts for restructuring charges by recognizing a liability at fair value when the costs are incurred. |
Revenue from Contract with Customer | Revenue Recognition See Note 3, Revenue . |
Reimbursements | Reimbursements The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue and expense in its Consolidated Statements of Comprehensive Income (Loss). |
Salaries and Employee Benefits | Salaries and Benefits Salaries and benefits consist of compensation and benefits paid to consultants, executive officers, and administrative and support personnel, of which the most significant elements are salaries and annual performance-related bonuses. Other items in this category are expenses related to sign-on bonuses, forgivable employee loans and minimum guaranteed bonuses (often incurred in connection with the hiring of new consultants), restricted stock unit and performance share unit amortization, payroll taxes, profit sharing and retirement benefits, and employee insurance benefits. Salaries and benefits are recognized on an accrual basis. Certain sign-on bonuses, retention awards, and minimum guaranteed compensation are capitalized and amortized in accordance with the terms of the respective agreements. A portion of the Company’s management cash bonuses are deferred and paid over a three three Accrued salaries and benefits within both Current liabilities and Non-current liabilities in the Consolidated Balance Sheets. |
Income Taxes | Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities, applying enacted statutory tax rates in effect for the year in which the tax differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Earnings per Common Share | Earnings per Common Share Basic earnings per common share is computed by dividing net income by weighted average common shares outstanding for the year. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Common equivalent shares are excluded from the determination of diluted earnings per share in periods in which they have an anti-dilutive effect. The following table sets forth the computation of basic and diluted earnings (loss) per share: December 31, 2020 2019 2018 Net income (loss) $ (37,707) $ 46,869 $ 49,295 Weighted average shares outstanding: Basic 19,301 19,103 18,917 Effect of dilutive securities: Restricted stock units — 285 406 Performance stock units — 163 209 Diluted 19,301 19,551 19,532 Basic earnings (loss) per share $ (1.95) $ 2.45 $ 2.61 Diluted earnings (loss) per share $ (1.95) $ 2.40 $ 2.52 Weighted average restricted stock units and performance stock units outstanding that could be converted into approximately 472,000 and 120,000 common shares, respectively, for the year ended December 31, 2020, were not included in the computation of diluted earnings per share because the effects would be anti-dilutive. |
Translation of Foreign Currencies | Translation of Foreign Currencies The Company generally designates the local currency for all its subsidiaries as the functional currency. The Company translates the assets and liabilities of its subsidiaries into U.S. dollars at the current rate of exchange prevailing at the balance sheet date. Revenue and expenses are translated at a monthly average exchange rate for the period. Translation adjustments are reported as a component of Accumulated other comprehensive income . |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Periodically, the Company is party to agreements with terms that required the Company to restrict cash through the termination dates of the agreements. Current and non-current restricted cash is included in Other current assets and Other non-current assets, respectively, in the Consolidated Balance Sheets. The following table provides a reconciliation of the cash and cash equivalents between the Consolidated Balance Sheets and the Consolidated Statement of Cash Flows as of December 31, 2020, 2019 and 2018: December 31, 2020 2019 2018 Cash and cash equivalents $ 316,473 $ 271,719 $ 279,906 Restricted cash included within other current assets — — 108 Restricted cash included within other non-current assets 16 — 248 Total cash, cash equivalents and restricted cash $ 316,489 $ 271,719 $ 280,262 |
Recently Issued Financial Accounting Standards | Recently Issued Financial Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The guidance is intended to provide temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact of this accounting guidance. The effect is not known or reasonably estimable at this time. In December 2019, the FASB, issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes. The guidance simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. The Company is currently evaluating the impact of this accounting guidance. The effect is not known or reasonably estimable at this time. Recently Adopted Financial Accounting Standards On January 1, 2020, the Company adopted ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments, and all related ASU amendments, using the modified retrospective method. The guidance amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The adoption had an immaterial impact on the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Consolidated Statement of Cash Flows and Consolidated Statement of Changes in Stockholders' Equity for the year ended December 31, 2020. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Estimated Useful Life of Property and Equipment | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted earnings (loss) per share: December 31, 2020 2019 2018 Net income (loss) $ (37,707) $ 46,869 $ 49,295 Weighted average shares outstanding: Basic 19,301 19,103 18,917 Effect of dilutive securities: Restricted stock units — 285 406 Performance stock units — 163 209 Diluted 19,301 19,551 19,532 Basic earnings (loss) per share $ (1.95) $ 2.45 $ 2.61 Diluted earnings (loss) per share $ (1.95) $ 2.40 $ 2.52 |
Schedule of Cash and Cash Equivalents | The following table provides a reconciliation of the cash and cash equivalents between the Consolidated Balance Sheets and the Consolidated Statement of Cash Flows as of December 31, 2020, 2019 and 2018: December 31, 2020 2019 2018 Cash and cash equivalents $ 316,473 $ 271,719 $ 279,906 Restricted cash included within other current assets — — 108 Restricted cash included within other non-current assets 16 — 248 Total cash, cash equivalents and restricted cash $ 316,489 $ 271,719 $ 280,262 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable | The following table outlines the changes in our contract asset and liability balances for the years ended: December 31, 2020 2019 Change Contract assets Unbilled receivables $ 9,907 $ 7,585 $ 2,322 Contract assets 9,745 14,672 (4,927) Total contract assets 19,652 22,257 (2,605) Contract liabilities Deferred revenue $ 38,050 $ 41,267 $ (3,217) |
Credit Losses (Tables)
Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Credit Loss [Abstract] | |
Debt Securities, Available-for-sale | The fair value and unrealized losses on available for sale debt securities, aggregated by investment category and the length of time the security has been in an unrealized loss position, are as follows: Less Than 12 Months Balance Sheet Classification Balance at December 31, 2020 Fair Value Unrealized Loss Cash and Cash Equivalents Marketable Securities U.S. Treasury securities $ 31,997 $ 1 $ 31,997 $ — |
Accounts Receivable, Allowance for Credit Loss | The activity in the allowance for credit losses on the Company's trade receivables is as follows: December 31, 2020 2019 2018 Balance at January 1, $ 5,140 $ 3,502 $ 2,534 Provision for credit losses 6,696 5,900 3,790 Write-offs (5,418) (4,270) (2,708) Foreign currency translation 139 8 (114) Balance at December 31, $ 6,557 $ 5,140 $ 3,502 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Components of Company's Property and Equipment | The components of the Company’s property and equipment are as follows: December 31, 2020 2019 Leasehold improvements $ 40,320 $ 47,269 Office furniture, fixtures and equipment 14,816 17,740 Computer equipment and software 25,544 27,531 Property and equipment, gross 80,680 92,540 Accumulated depreciation (57,188) (63,890) Property and equipment, net $ 23,492 $ 28,650 |
Leases, Codification Topic 842
Leases, Codification Topic 842 (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Lease, Cost | Lease cost components included within General and Administrative Expenses in our Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, were as follows: December 31, 2020 2019 Operating lease cost $ 22,227 $ 24,928 Variable lease cost 6,047 7,932 Total lease cost $ 28,274 $ 32,860 |
Schedule Of Cash Flow Information Related to Leases | Supplemental cash flow information related to the Company's operating leases for the year ended December 31, is as follows: December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 31,573 $ 33,797 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 31,829 $ 19,640 |
Schedule of Weighted Average Information Related to Leases | The weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31, is as follows: December 31, 2020 2019 Weighted Average Remaining Lease Term Operating leases 6.0 years 4.7 years Weighted Average Discount Rate Operating leases 3.5 % 3.9 % |
Summary of Minimum Future Office Space and Equipment Lease Payments Due | The future maturities of the Company's operating lease liabilities for the years ended December 31, is as follows: Operating Lease Maturity 2021 $ 28,089 2022 25,803 2023 23,822 2024 14,030 2025 6,726 Thereafter 30,226 Total lease payments 128,696 Less: Interest (12,896) Present value of lease liabilities $ 115,800 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Unrealized Gain (Loss) on Investments | The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows: Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2020 Cash $ 230,490 $ — Level 1 (1) : Money market funds 53,986 U.S. Treasury securities 51,996 1 (1) 51,996 31,997 19,999 Total Level 1 51,996 1 (1) 51,996 85,983 19,999 Total $ 51,996 $ 1 $ (1) $ 51,996 $ 316,473 $ 19,999 Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2019 Cash $ 177,493 $ — Level 1 (1) : Money market funds 15,661 — U.S. Treasury securities 139,705 13 — 139,718 78,565 61,153 Total Level 1 139,705 13 — 139,718 94,226 61,153 Total $ 139,705 $ 13 $ — $ 139,718 $ 271,719 $ 61,153 (1) Level 1 – Quoted prices in active markets for identical assets and liabilities. |
Fair Value, Separate Account Investment | The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value on a recurring basis: Balance Sheet Classification Fair Value Other Current Assets Goodwill Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2020 Measured on a recurring basis: Level 1 (1) : U.S. non-qualified deferred compensation plan $ 31,369 $ — — $ — $ 31,369 $ — $ — Level 2 (2) : Retirement and pension plan assets 15,859 1,434 — 14,425 — — — Pension benefit obligation (22,351) — — — — (1,434) (20,917) Total Level 2 (6,492) 1,434 — 14,425 — (1,434) (20,917) Measured on a non-recurring basis: Level 3 (3)(4) : Goodwill 91,643 91,643 Total $ 116,520 $ 1,434 91,643 $ 14,425 $ 31,369 $ (1,434) $ (20,917) Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2019 Level 1 (1) : U.S. non-qualified deferred compensation plan $ 25,409 $ — $ — $ 25,409 $ — $ — Level 2 (2) : Retirement and pension plan assets 15,296 1,318 13,978 — — — Pension benefit obligation (20,918) — — — (1,318) (19,600) Total Level 2 (5,622) 1,318 13,978 — (1,318) (19,600) Total $ 19,787 $ 1,318 $ 13,978 $ 25,409 $ (1,318) $ (19,600) (1) Level 1 – Quoted prices in active markets for identical assets and liabilities. (2) Level 2 – Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. (3) Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. (4) In accordance with Subtopic 350-20, goodwill with a carrying value of $33.0 million was written down to its implied fair value of zero, resulting in the revised total goodwill of $91.6 million and an impairment charge of $33.0 million in earnings. |
Reconciliation of Beginning and Ending Balance of Level 3 Assets and Liabilities | The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the year ended December 31, 2020: Acquisition Contingent Compensation Accruals Balance at December 31, 2019 $ (5,278) $ (618) Earnout accretion/compensation expense — (1,942) Payments 5,051 — Foreign currency translation 227 170 Balance at December 31, 2020 $ — $ (2,390) |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of the beginning and ending balance of Level 3 assets for the twelve months ended December 31, 2020: Goodwill Balance at December 31, 2019 $ 126,831 Impairment (32,970) Foreign currency translation (2,218) Balance at December 31, 2020 $ 91,643 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Identifiable Assets, Goodwill and Other Intangible Assets, Net, by Segment | The Company's goodwill by segment is as follows: December 31, 2020 December 31, 2019 Executive Search Americas $ 91,643 $ 92,497 Europe — 25,579 Asia Pacific — 8,755 Total goodwill $ 91,643 $ 126,831 |
Changes in Carrying Amount of Goodwill by Segment | Changes in the carrying amount of goodwill by segment for the years ended December 31, 2020, 2019, and 2018 were as follows: Executive Search Americas Europe Asia Pacific Total Goodwill $ 88,690 $ 20,900 $ 9,302 $ 118,892 Accumulated impairment losses — — — — Balance at December 31, 2017 88,690 20,900 9,302 118,892 Amrop acquisition — 5,478 — 5,478 Foreign currency translation (280) (1,454) (544) (2,278) Balance at December 31, 2018 88,410 24,924 8,758 122,092 2GET acquisition 3,793 — — 3,793 Foreign currency translation 294 655 (3) 946 Balance at December 31, 2019 92,497 25,579 8,755 126,831 Impairment — (24,475) (8,495) (32,970) Foreign currency translation (854) (1,104) (260) (2,218) Goodwill 91,643 24,475 8,495 124,613 Accumulated impairment losses — (24,475) (8,495) (32,970) Balance at December 31, 2020 $ 91,643 $ — $ — $ 91,643 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The Company's estimated future amortization expense related to intangible assets as of December 31, 2020 for the years ended December 31, is as follows: 2021 496 2022 318 2023 189 2024 77 2025 49 Total 1,129 |
Schedule of Indefinite-Lived Intangible Assets | The Company’s other intangible assets, net by segment, are as follows: December 31, 2020 December 31, 2019 Executive Search Americas $ 225 $ 557 Europe 852 1,314 Asia Pacific 52 64 Total Other Intangible Assets, Net $ 1,129 $ 1,935 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The carrying amount of amortizable intangible assets and the related accumulated amortization were as follows: December 31, 2020 December 31, 2019 Weighted Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships 6.6 $ 16,600 $ (15,587) $ 1,013 $ 16,302 $ (14,683) $ 1,619 Trade name 5.0 280 (164) 116 362 (46) 316 Total intangible assets 6.4 $ 16,880 $ (15,751) $ 1,129 $ 16,664 $ (14,729) $ 1,935 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Liabilities Disclosure [Abstract] | |
Schedule of Other Current Assets | The components of other current assets are as follows: December 31, 2020 December 31, 2019 Contract assets $ 19,652 $ 22,257 Other 3,627 5,591 Total other current assets $ 23,279 $ 27,848 |
Pension Plan and Life Insuran_2
Pension Plan and Life Insurance Contract (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | 2020 2019 Benefit obligation at January 1, $ 20,918 $ 20,908 Interest cost 212 338 Actuarial loss 790 1,506 Benefits paid (1,402) (1,375) Cumulative translation adjustment 1,833 (459) Benefit obligation at December 31, $ 22,351 $ 20,918 |
Schedule of Net Benefit Costs [Table Text Block] | The components of and assumptions used to determine the net periodic benefit cost are as follows: December 31, 2020 2019 2018 Net period benefit cost: Interest cost $ 212 $ 338 $ 373 Amortization of net loss 140 35 92 Net periodic benefit cost $ 352 $ 373 $ 465 Weighted average assumptions Discount rate (1) 1.03 % 1.71 % 1.64 % Rate of compensation increase — % — % — % |
Schedule of Assumptions Used [Table Text Block] | Assumptions to determine the Company’s benefit obligation are as follows: December 31, 2020 2019 2018 Discount rate (1) 0.72 % 1.03 % 1.71 % Rate of compensation increase — % — % — % Measurement Date 12/31/2020 12/31/2019 12/31/2018 |
Schedule of Expected Benefit Payments [Table Text Block] | The benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter are as follows: 2021 1,434 2022 1,415 2023 1,393 2024 1,367 2025 1,335 2025 through 2029 6,034 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | The benefit obligation amounts recognized in the Consolidated Balance Sheets are as follows: December 31, 2020 2019 Current liabilities $ 1,434 $ 1,318 Noncurrent liabilities 20,917 19,600 Total $ 22,351 $ 20,918 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Information with Respect to Stock-based Compensation | A summary of information with respect to stock-based compensation is as follows: December 31, 2020 2019 2018 Salaries and employee benefits (1) $ 12,968 $ 12,857 $ 9,548 General and administrative expenses 460 460 562 Income tax benefit related to stock-based compensation included in net income 3,571 3,529 2,674 |
Restricted Stock Unit Activity | Restricted stock unit activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Number of Weighted- Outstanding on December 31, 2018 512,446 $ 28.83 Granted 270,488 33.55 Vested and converted to common stock (175,792) 24.19 Forfeited (8,154) 34.29 Outstanding on December 31, 2019 598,988 32.25 Granted 329,068 22.20 Vested and converted to common stock (194,921) 29.67 Forfeited (25,271) 30.62 Outstanding on December 31, 2020 707,864 $ 28.35 |
Performance Stock Unit Activity | Performance share unit activity for the years ended December 31, 2020, 2019 and 2018 is as follows: Number of Weighted- Outstanding on December 31, 2018 197,117 $ 24.88 Granted 81,661 35.58 Vested and converted to common stock (99,219) 25.04 Forfeited — — Outstanding on December 31, 2019 179,559 32.63 Granted 105,847 23.52 Vested and converted to common stock (50,472) 26.69 Forfeited — — Outstanding on December 31, 2020 234,934 $ 29.80 |
Stock-Based Compensation Schedu
Stock-Based Compensation Schedule of Share-based Compensation, Phantom Stock Units Award Activity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Schedule of Share-based Compensation, Phantom Stock Units Award Activity [Line Items] | |
Schedule of Share-based Compensation, Phantom Stock Units Award Activity [Table Text Block] | Phantom stock unit activity for the years ended December 31, 2020, 2019, and 2018 is as follows: Number of Outstanding on December 31, 2018 111,673 Granted 154,387 Vested — Forfeited — Outstanding on December 31, 2019 266,060 Granted 118,596 Vested (21,346) Forfeited (11,676) Outstanding on December 31, 2020 351,634 |
Changes in Accumulated Other _2
Changes in Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Changes in Accumulated Other Comprehensive Income ("AOCI") by Component | The changes in Accumulated other comprehensive income (“AOCI”) by component for the year ended December 31, 2020, are summarized below: Available- Foreign Pension AOCI Balance at December 31, 2019 $ 13 $ 6,102 $ (2,291) $ 3,824 Other comprehensive income (loss) before classification, net of tax (13) 82 (476) (407) Balance at December 31, 2020 — $ 6,184 $ (2,767) $ 3,417 |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring Charges by Segment [Table Text Block] | Restructuring charges by operating segment for the years ended December 31, 2020, 2019, and 2018 were as follows: December 31, 2020 2019 2018 Executive Search Americas $ 30,479 $ 4,102 $ — Europe 8,603 — — Asia Pacific 4,614 — — Total Executive Search 43,696 4,102 — Heidrick Consulting 4,657 — — Global Operations Support 4,019 28 — Total restructuring $ 52,372 $ 4,130 $ — |
Restructuring and Related Costs | Changes in the restructuring accrual for the years ended December 31, 2020, 2019, and 2018 were as follows: Employee Related Office Related Other Total Accrual balance at December 31, 2017 11,866 148 1,011 13,025 Cash payments (8,689) (248) (993) (9,930) Non-cash write-offs — 195 — 195 Other (1,843) (95) 5 (1,933) Exchange rate fluctuations (65) — (6) (71) Accrual balance at December 31, 2018 1,269 — 17 1,286 Restructuring charges 4,130 — — 4,130 Cash payments (2,213) — — (2,213) Non-cash write-offs — — (17) (17) Other 4 — — 4 Exchange rate fluctuations 55 — — 55 Accrual balance at December 31, 2019 3,245 — — 3,245 Restructuring charges 32,780 18,910 682 52,372 Cash payments (11,443) (138) (682) (12,263) Non-cash write-offs (1,633) (17,823) — (19,456) Other (173) — — (173) Exchange rate fluctuations (464) 4 — (460) Accrual balance at December 31, 2020 $ 22,312 $ 953 $ — $ 23,265 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Sources of Income (Loss) before Income Taxes | The sources of income (loss) before income taxes are as follows: December 31, 2020 2019 2018 United States $ 11,346 $ 53,461 $ 47,191 Foreign (42,744) 15,828 23,301 Income (loss) before income taxes $ (31,398) $ 69,289 $ 70,492 |
Provision for (Benefit from) Income Taxes | The provision for income taxes are as follows: December 31, 2020 2019 2018 Current Federal $ 4,469 $ 11,311 $ 12,311 State and local 1,948 4,422 4,843 Foreign 2,172 4,423 6,907 Current provision for income taxes 8,589 20,156 24,061 Deferred Federal (2,416) 2,031 6,403 State and local (697) 698 (354) Foreign 833 (465) (8,913) Deferred provision (benefit) for income taxes (2,280) 2,264 (2,864) Total provision for income taxes $ 6,309 $ 22,420 $ 21,197 |
Reconciliation of Provision for (Benefit from) Income Taxes | A reconciliation of the provision for income taxes to income taxes at the statutory U.S. federal income tax rate of 21% is as follows: December 31, 2020 2019 2018 Income tax provision (benefit) at the statutory U.S. federal rate $ (6,594) $ 14,551 $ 14,803 State income tax provision, net of federal tax benefit 735 3,509 3,242 Nondeductible expenses, net 7,065 1,570 1,651 Foreign taxes (includes rate differential and changes in foreign valuation allowance) 4,470 698 (35) Establishment (release) of valuation allowance 566 (117) (43) Additional U.S. tax on foreign operations — 2,550 1,628 Current/deferred items (505) (157) (1,199) Other, net 572 (184) 1,150 Total provision for income taxes $ 6,309 $ 22,420 $ 21,197 |
Summary of Deferred Tax Assets and Liabilities | The deferred tax assets and liabilities are attributable to the following components: December 31, 2020 2019 Deferred tax assets attributable to: Operating lease liability and accrued rent $ 22,765 $ 20,371 Foreign net operating loss carryforwards 19,721 17,940 Accrued compensation and employee benefits 18,553 14,506 Deferred compensation 17,376 17,110 Foreign tax credit carryforwards 5,196 6,493 Other accrued expenses 4,350 5,882 Deferred tax assets, before valuation allowance 87,961 82,302 Valuation allowance (25,218) (24,200) Deferred tax assets, after valuation allowance 62,743 58,102 Deferred tax liabilities attributable to: Operating lease, right-of-use, assets 17,526 17,716 Goodwill 7,625 5,440 Depreciation on property and equipment 1,172 1,652 Other 533 533 Deferred tax liabilities 26,856 25,341 Net deferred tax assets $ 35,887 $ 32,761 |
Reconciliation of Amounts of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: December 31, 2020 2019 2018 Gross unrecognized tax benefits at January 1, $ 130 $ 1,128 $ 740 Gross increases for tax positions of prior years 500 389 608 Gross decreases for tax positions of prior years (31) (377) — Settlements (183) (1,010) (220) Gross unrecognized tax benefits at December 31, $ 416 $ 130 $ 1,128 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment | The revenue, operating income, depreciation and amortization, and capital expenditures, by segment, are as follows: December 31, 2020 2019 2018 Revenue Executive Search Americas $ 361,416 $ 415,455 $ 405,267 Europe 124,243 135,070 145,348 Asia Pacific 79,511 95,827 102,276 Total Executive Search 565,170 646,352 652,891 Heidrick Consulting 56,445 60,572 63,132 Revenue before reimbursements 621,615 706,924 716,023 Reimbursements 7,755 18,690 19,632 Total revenue $ 629,370 $ 725,614 $ 735,655 Operating income (loss) Executive Search Americas (1) $ 62,806 $ 100,833 $ 96,880 Europe (2) (22,827) 3,026 5,849 Asia Pacific (3) (6,724) 13,590 15,999 Total Executive Search 33,255 117,449 118,728 Heidrick Consulting (4) (28,369) (18,499) (13,619) Total segments 4,886 98,950 105,109 Global Operations Support (5) (40,415) (35,439) (36,252) Total operating income (loss) $ (35,529) $ 63,511 $ 68,857 Depreciation and amortization Executive Search Americas $ 20,937 $ 4,204 $ 4,605 Europe 2,270 2,784 3,735 Asia Pacific 1,837 1,472 1,646 Total Executive Search 25,044 8,460 9,986 Heidrick Consulting 953 1,079 1,577 Total segments 25,997 9,539 11,563 Global Operations Support 659 832 959 Total depreciation and amortization $ 26,656 $ 10,371 $ 12,522 Capital expenditures Executive Search Americas $ 4,258 $ 1,121 $ 601 Europe 409 1,070 3,557 Asia Pacific 2,015 295 440 Total Executive Search 6,682 2,486 4,598 Heidrick Consulting 116 541 581 Total segments 6,798 3,027 5,179 Global Operations Support 524 325 1,006 Total capital expenditures $ 7,322 $ 3,352 $ 6,185 (1) Includes $30.5 million of restructuring charges in 2020 and $4.1 million of restructuring charges in 2019. (2) Includes $8.6 million of restructuring charges and $24.5 million of impairment charges in 2020. (3) Includes $4.6 million of restructuring charges and $8.5 million of impairment charges in 2020. (4) Includes $4.7 million of restructuring charges in 2020. (5) Includes $4.0 million of restructuring charges in 2020 and less than $0.1 million of restructuring charges in 2019. |
Identifiable Assets, Goodwill and Other Intangible Assets, Net, by Segment | The Company's goodwill by segment is as follows: December 31, 2020 December 31, 2019 Executive Search Americas $ 91,643 $ 92,497 Europe — 25,579 Asia Pacific — 8,755 Total goodwill $ 91,643 $ 126,831 |
Schedule of Other Assets | Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows: December 31, 2020 2019 Current assets Executive Search Americas $ 284,837 $ 286,818 Europe 84,841 96,230 Asia Pacific 76,523 78,967 Total Executive Search 446,201 462,015 Heidrick Consulting 24,546 30,628 Total segments 470,747 492,643 Global Operations Support 1,939 1,839 Total allocated current assets 472,686 494,482 Unallocated non-current assets 222,354 220,925 Goodwill and other intangible assets, net Executive Search Americas 91,868 93,054 Europe 852 26,893 Asia Pacific 52 8,819 Total Executive Search 92,772 128,766 Heidrick Consulting — — Total goodwill and other intangible assets, net 92,772 128,766 Total assets $ 787,812 $ 844,173 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Minimum Future Office Space and Equipment Lease Payments Due | The future maturities of the Company's operating lease liabilities for the years ended December 31, is as follows: Operating Lease Maturity 2021 $ 28,089 2022 25,803 2023 23,822 2024 14,030 2025 6,726 Thereafter 30,226 Total lease payments 128,696 Less: Interest (12,896) Present value of lease liabilities $ 115,800 |
Accounting Policies (Details)
Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Financing Receivable, Impaired [Line Items] | |
Goodwill, Impairment Loss | $ 32,970,000 |
Asia Pacific [Member] | |
Financing Receivable, Impaired [Line Items] | |
Goodwill, Impairment Loss | 8,500,000 |
Europe [Member] | |
Financing Receivable, Impaired [Line Items] | |
Goodwill, Impairment Loss | $ 24,500,000 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accounting Policies [Abstract] | ||
Cash And Cash Equivalents Maximum Maturity Period | 3 months | |
Concentration Risk, Customer | no | no |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Estimated Useful Life of Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Office Furniture, Fixtures and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 5 years |
Office Furniture, Fixtures and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 10 years |
Computer Equipment and Software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 3 years |
Computer Equipment and Software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 7 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 3 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 10 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Salaries and Employee Benefits (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Vesting Period Of Deferred Cash Bonuses | 3 years |
Additional Vesting Period After Deferral Date For Bonus Payment | 3 years |
Percentage Of Estimated First Year Compensation Received For Executive Search Services | 33.33% |
Percentage Of Excess Of Actual Over Estimated Compensation Of Placed Candidate Billed To Client | 33.33% |
Percentage Increments Billed To Clients For Retainer And Indirect Expenses | 33.33% |
Maximum [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Variation Percentage Of Deferred Cash Bonuses | 15.00% |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Net Income (Loss) Attributable to Parent | $ (37,707) | $ 46,869 | $ 49,295 |
Weighted Average Number of Shares Outstanding, Basic | 19,301,000 | 19,103,000 | 18,917,000 |
Weighted Average Number of Shares Outstanding, Diluted | 19,301,000 | 19,551,000 | 19,532,000 |
Earnings Per Share, Basic | $ (1.95) | $ 2.45 | $ 2.61 |
Earnings Per Share, Diluted | $ (1.95) | $ 2.40 | $ 2.52 |
Restricted Stock Units (RSUs) [Member] | |||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 0 | 285,000 | 406,000 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 472,000 | 120,000 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 472,000 | 120,000 | |
Performance Shares [Member] | |||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 0 | 163,000 | 209,000 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | ||
Unbilled Contracts Receivable | $ 9,907 | $ 7,585 |
Increase (Decrease) in Unbilled Contracts Receivable | 2,322 | |
Unbilled Receivables, Current | 9,745 | 14,672 |
Increase (Decrease) in Contract Assets | (4,927) | |
Contract with Customer, Asset, before Allowance for Credit Loss, Current | 19,652 | 22,257 |
Increase (Decrease) in Contract with Customer, Asset | (2,605) | |
Deferred Revenue, Current | 38,050 | $ 41,267 |
Increase (Decrease) in Contract Liabilities | (3,217) | |
Deferred Revenue, Revenue Recognized | 36,200 | |
Contract with Customer, Performance Obligation Satisfied in Previous Period | $ 16,700 |
Credit Losses - Summary of Cred
Credit Losses - Summary of Credit Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Credit Loss [Abstract] | ||||
Provision for credit losses | $ 6,696 | $ 5,900 | $ 3,790 | |
Allowance for Doubtful Accounts Receivable, Write-offs | (5,418) | (4,270) | (2,708) | |
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation | 139 | 8 | (114) | |
Allowance for Doubtful Accounts Receivable | 6,557 | $ 5,140 | $ 3,502 | $ 2,534 |
Available for sale securities | 31,997 | |||
Available-for-sale Securities, Gross Unrealized Gain | 1 | |||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Available for sale securities | 31,997 | |||
Cash and Cash Equivalents [Domain] | ||||
Credit Loss [Abstract] | ||||
Available for sale securities | 31,997 | |||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Available for sale securities | 31,997 | |||
Investments [Member] | ||||
Credit Loss [Abstract] | ||||
Available for sale securities | 0 | |||
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items] | ||||
Available for sale securities | $ 0 |
Property and Equipment, Net - C
Property and Equipment, Net - Components of Company's Property and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 80,680 | $ 92,540 |
Accumulated depreciation | (57,188) | (63,890) |
Property and equipment, net | 23,492 | 28,650 |
Office Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 14,816 | 17,740 |
Leaseholds and Leasehold Improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 40,320 | 47,269 |
Computer Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 25,544 | $ 27,531 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 8,100 | $ 9,500 | $ 11,000 |
Depreciation expense | $ 8,100 | $ 9,500 | $ 11,000 |
Leases, Codification Topic 84_2
Leases, Codification Topic 842 (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Leases [Abstract] | |||
Operating Lease, Expense | $ 22,227,000 | $ 24,928,000 | |
Variable Lease, Cost | 6,047,000 | 7,932,000 | |
Lease, Cost | 28,274,000 | 32,860,000 | |
Rent expense and costs of equipment leases | $ 33,200,000 | ||
Operating Lease, Payments | 31,573,000 | 33,797,000 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 31,829,000 | $ 19,640,000 | |
Operating Lease, Weighted Average Remaining Lease Term | 6 years | 4 years 8 months 12 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.50% | 3.90% | |
Lessee, Operating Lease, Liability, to be Paid, Year One | $ 28,089,000 | ||
Lessee, Operating Lease, Liability, to be Paid, Year Two | 25,803,000 | ||
Lessee, Operating Lease, Liability, to be Paid, Year Three | 23,822,000 | ||
Lessee, Operating Lease, Liability, to be Paid, Year Four | 14,030,000 | ||
Lessee, Operating Lease, Liability, to be Paid, Year Five | 6,726,000 | ||
Lessee, Operating Lease, Liability, to be Paid, after Year Five | 30,226,000 | ||
Lessee, Operating Lease, Liability, to be Paid | 128,696,000 | ||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (12,896,000) | ||
Operating Lease, Liability | 115,800,000 | ||
Asset retirement obligation | 3,300,000 | $ 3,000,000 | |
Lessee, Lease, Description [Line Items] | |||
Restructuring Charges | 52,372,000 | $ 4,130,000 | $ 0 |
Office Lease [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Restructuring Charges | $ 13,700,000 | ||
Minimum [Member] | Office Lease [Member] | |||
Leases [Abstract] | |||
Lessee, Operating Lease, Term of Contract | 1 year | ||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 1 year | ||
Minimum [Member] | Equipment Lease [Member] | |||
Leases [Abstract] | |||
Lessee, Operating Lease, Term of Contract | 1 year | ||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 1 year | ||
Maximum [Member] | Office Lease [Member] | |||
Leases [Abstract] | |||
Lessee, Operating Lease, Term of Contract | 12 years 6 months | ||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 12 years 6 months | ||
Maximum [Member] | Equipment Lease [Member] | |||
Leases [Abstract] | |||
Lessee, Operating Lease, Term of Contract | 5 years | ||
Lessee, Lease, Description [Line Items] | |||
Lessee, Operating Lease, Term of Contract | 5 years |
Fair Value Measures and Disclos
Fair Value Measures and Disclosures (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Goodwill, Gross | $ 124,613,000 | $ 118,892,000 | ||
Goodwill | 91,643,000 | $ 126,831,000 | $ 122,092,000 | 118,892,000 |
Goodwill, Impaired, Accumulated Impairment Loss | 33,000,000 | $ 0 | ||
Europe and Asia Pacific [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Goodwill, Gross | 33,000,000 | |||
Goodwill | 91,600,000 | |||
Goodwill, Impaired, Accumulated Impairment Loss | $ 33,000,000 |
Fair Value Measures and Discl_2
Fair Value Measures and Disclosures - Fair Value by Balance Sheet Classification (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 51,996,000 | $ 139,705,000 |
Debt Securities, Available-for-sale | 51,996,000 | 139,718,000 |
Cash and Cash Equivalents, at Carrying Value | 316,473,000 | 271,719,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | (1,000) | |
Marketable Securities | 19,999,000 | 61,153,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,000 | 13,000 |
Aggregate cost basis for investments | 19,500,000 | 17,200,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 51,996,000 | 139,705,000 |
Debt Securities, Available-for-sale | 51,996,000 | 139,718,000 |
Cash and Cash Equivalents, at Carrying Value | 85,983,000 | 94,226,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | (1,000) | |
Marketable Securities | 19,999,000 | 61,153,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,000 | 13,000 |
Cash | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, at Carrying Value | 230,490,000 | 177,493,000 |
Money Market Funds | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and Cash Equivalents, at Carrying Value | 53,986,000 | 15,661,000 |
US Treasury Securities | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 51,996,000 | 139,705,000 |
Debt Securities, Available-for-sale | 51,996,000 | 139,718,000 |
Cash and Cash Equivalents, at Carrying Value | 31,997,000 | 78,565,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | (1,000) | |
Marketable Securities | 19,999,000 | 61,153,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $ 1,000 | $ 13,000 |
Fair Value Measures and Discl_3
Fair Value Measures and Disclosures - Fair Value by Level Grouping (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | $ 15,900,000 | $ 15,300,000 | ||
Defined Benefit Plan, Benefit Obligation | (22,351,000) | (20,918,000) | $ (20,908,000) | |
Fair Value, Net Asset (Liability) | 116,520,000 | 19,787,000 | ||
Goodwill | 91,643,000 | 126,831,000 | $ 122,092,000 | $ 118,892,000 |
Investments [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Fair Value, Net Asset (Liability) | 31,369,000 | 25,409,000 | ||
Other Current Assets | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Fair Value, Net Asset (Liability) | 1,434,000 | 1,318,000 | ||
Assets Designated for Retirement and Pension Plans [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Fair Value, Net Asset (Liability) | 14,425,000 | 13,978,000 | ||
Other Current Liabilities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Fair Value, Net Asset (Liability) | (1,434,000) | (1,318,000) | ||
Other Pension Plan [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Fair Value, Net Asset (Liability) | (20,917,000) | (19,600,000) | ||
Goodwill [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Fair Value, Net Asset (Liability) | 91,643,000 | |||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred Compensation Plan Assets | 31,369,000 | 25,409,000 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investments [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Deferred Compensation Plan Assets | 31,369,000 | 25,409,000 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | 15,859,000 | 15,296,000 | ||
Defined Benefit Plan, Benefit Obligation | (22,351,000) | (20,918,000) | ||
Fair Value, Net Asset (Liability) | (6,492,000) | (5,622,000) | ||
Significant Other Observable Inputs (Level 2) [Member] | Other Current Assets | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,434,000 | 1,318,000 | ||
Fair Value, Net Asset (Liability) | 1,434,000 | 1,318,000 | ||
Significant Other Observable Inputs (Level 2) [Member] | Assets Designated for Retirement and Pension Plans [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Defined Benefit Plan, Fair Value of Plan Assets | 14,425,000 | 13,978,000 | ||
Fair Value, Net Asset (Liability) | 14,425,000 | 13,978,000 | ||
Significant Other Observable Inputs (Level 2) [Member] | Other Current Liabilities [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | (1,434,000) | (1,318,000) | ||
Fair Value, Net Asset (Liability) | (1,434,000) | (1,318,000) | ||
Significant Other Observable Inputs (Level 2) [Member] | Other Pension Plan [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Defined Benefit Plan, Benefit Obligation | (20,917,000) | (19,600,000) | ||
Fair Value, Net Asset (Liability) | (20,917,000) | (19,600,000) | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Goodwill | 91,643,000 | $ 126,831,000 | ||
Fair Value, Inputs, Level 3 [Member] | Goodwill [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Goodwill | $ 91,643,000 |
Fair Value Measurements - Recon
Fair Value Measurements - Reconciliation of Beginning and Ending Balance of Level 3 Liabilities (Detail) - Fair Value, Inputs, Level 3 [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Acqusition Earnout Accruals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Acquisition Earnout Accruals | $ 0 | $ (5,278,000) |
Earnout accretion/compensation expense | 0 | |
Payments | 5,051,000 | |
Fair Value Measurement With Unobservable Inputs, Recurring Basis Liability, Foreign Currency Translation | 227,000 | |
Contingent Compensation [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Acquisition Earnout Accruals | (2,390,000) | $ (618,000) |
Earnout accretion/compensation expense | (1,942,000) | |
Payments | 0 | |
Fair Value Measurement With Unobservable Inputs, Recurring Basis Liability, Foreign Currency Translation | $ 170,000 |
Fair Value Measurements - Rec_2
Fair Value Measurements - Reconciliation of Beginning and Ending Balance of Level 3 Assets (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Goodwill, Total | $ 91,643,000 | $ 126,831,000 | $ 122,092,000 | $ 118,892,000 |
Goodwill, Impaired, Accumulated Impairment Loss | (33,000,000) | $ 0 | ||
Europe and Asia Pacific [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Goodwill, Total | 91,600,000 | |||
Goodwill, Impaired, Accumulated Impairment Loss | (33,000,000) | |||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Goodwill, Total | 91,643,000 | $ 126,831,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (32,970,000) | |||
Fair Value Measurement with Unobservable Inputs, Goodwill, Foreign Currency Translation | $ (2,218,000) |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||||
Accretion expense | $ 0 | $ 668,000 | $ 1,285,000 | |
Goodwill | $ 91,643,000 | $ 126,831,000 | 122,092,000 | $ 118,892,000 |
Amrop [Member] [Domain] | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | $ 5,478,000 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Roll Forward] | ||||
Beginning Balance | $ 126,831,000 | $ 122,092,000 | $ 118,892,000 | |
Goodwill, Foreign Currency Translation Gain (Loss) | (2,218,000) | 946,000 | (2,278,000) | |
Goodwill, Impairment Loss | (32,970,000) | |||
Goodwill, Gross | 124,613,000 | $ 118,892,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (33,000,000) | 0 | ||
Ending Balance | 91,643,000 | 126,831,000 | 122,092,000 | |
Europe [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Impairment Loss | (24,500,000) | |||
Goodwill, Impaired, Accumulated Impairment Loss | (24,500,000) | |||
Asia Pacific [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Impairment Loss | (8,500,000) | |||
Goodwill, Impaired, Accumulated Impairment Loss | (8,500,000) | |||
Amrop [Member] [Domain] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 5,478,000 | |||
2Get [Domain] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 3,793,000 | |||
Executive Search Member [Member] | Americas [Member] | ||||
Goodwill [Roll Forward] | ||||
Beginning Balance | 92,497,000 | 88,410,000 | 88,690,000 | |
Goodwill, Foreign Currency Translation Gain (Loss) | (854,000) | 294,000 | (280,000) | |
Goodwill, Impairment Loss | 0 | |||
Goodwill, Gross | 91,643,000 | 88,690,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | ||
Ending Balance | 91,643,000 | 92,497,000 | 88,410,000 | |
Executive Search Member [Member] | Europe [Member] | ||||
Goodwill [Roll Forward] | ||||
Beginning Balance | 25,579,000 | 24,924,000 | 20,900,000 | |
Goodwill, Foreign Currency Translation Gain (Loss) | (1,104,000) | 655,000 | (1,454,000) | |
Goodwill, Impairment Loss | (24,475,000) | |||
Goodwill, Gross | 24,475,000 | 20,900,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (24,475,000) | 0 | ||
Ending Balance | 0 | 25,579,000 | 24,924,000 | |
Executive Search Member [Member] | Asia Pacific [Member] | ||||
Goodwill [Roll Forward] | ||||
Beginning Balance | 8,755,000 | 8,758,000 | 9,302,000 | |
Goodwill, Foreign Currency Translation Gain (Loss) | (260,000) | (3,000) | (544,000) | |
Goodwill, Impairment Loss | (8,495,000) | |||
Goodwill, Gross | 8,495,000 | 9,302,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (8,495,000) | $ 0 | ||
Ending Balance | $ 0 | $ 8,755,000 | 8,758,000 | |
Executive Search Member [Member] | Amrop [Member] [Domain] | Americas [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 0 | |||
Executive Search Member [Member] | Amrop [Member] [Domain] | Europe [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 5,478,000 | |||
Executive Search Member [Member] | Amrop [Member] [Domain] | Asia Pacific [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 0 | |||
Executive Search Member [Member] | 2Get [Domain] | Americas [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 3,793,000 | |||
Executive Search Member [Member] | 2Get [Domain] | Europe [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 0 | |||
Executive Search Member [Member] | 2Get [Domain] | Asia Pacific [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | $ 0 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Goodwill - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2017 | |
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Impairment Loss | $ 32,970,000 | |||
Goodwill, Gross | $ 124,613,000 | $ 118,892,000 | ||
Percentage of fair value excess by carrying value | 100.00% | |||
Goodwill, Impaired, Accumulated Impairment Loss | $ (33,000,000) | 0 | ||
Goodwill | 91,643,000 | $ 122,092,000 | $ 126,831,000 | 118,892,000 |
Europe [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Impairment Loss | 24,500,000 | |||
Goodwill, Impaired, Accumulated Impairment Loss | (24,500,000) | |||
Asia Pacific [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Impairment Loss | 8,500,000 | |||
Goodwill, Impaired, Accumulated Impairment Loss | (8,500,000) | |||
Amrop [Member] [Domain] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill acquired | 5,478,000 | |||
Executive Search Member [Member] | Europe [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Impairment Loss | 24,475,000 | |||
Goodwill, Gross | 24,475,000 | 20,900,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (24,475,000) | 0 | ||
Goodwill | 0 | 24,924,000 | 25,579,000 | 20,900,000 |
Executive Search Member [Member] | Americas [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Impairment Loss | 0 | |||
Goodwill, Gross | 91,643,000 | 88,690,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | ||
Goodwill | 91,643,000 | 88,410,000 | 92,497,000 | 88,690,000 |
Executive Search Member [Member] | Asia Pacific [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Impairment Loss | 8,495,000 | |||
Goodwill, Gross | 8,495,000 | 9,302,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (8,495,000) | 0 | ||
Goodwill | $ 0 | 8,758,000 | $ 8,755,000 | $ 9,302,000 |
Executive Search Member [Member] | Amrop [Member] [Domain] | Europe [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill acquired | 5,478,000 | |||
Executive Search Member [Member] | Amrop [Member] [Domain] | Americas [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill acquired | 0 | |||
Executive Search Member [Member] | Amrop [Member] [Domain] | Asia Pacific [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill acquired | $ 0 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Summary of Other Intangible Assets Net by Segment (Detail) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 1,129,000 | $ 1,935,000 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Carrying Amount of Amortizable Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 6 years 4 months 24 days | |
Gross Carrying Amount | $ 16,880,000 | $ 16,664,000 |
Accumulated Amortization | (15,751,000) | (14,729,000) |
Net Carrying Amount | $ 1,129,000 | 1,935,000 |
Client relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 6 years 7 months 6 days | |
Gross Carrying Amount | $ 16,600,000 | 16,302,000 |
Accumulated Amortization | (15,587,000) | (14,683,000) |
Net Carrying Amount | $ 1,013,000 | 1,619,000 |
Trade Name [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 5 years | |
Gross Carrying Amount | $ 280,000 | 362,000 |
Accumulated Amortization | (164,000) | (46,000) |
Net Carrying Amount | $ 116,000 | $ 316,000 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets - Intangible Assets- Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | |||
2021 | $ 496,000 | ||
2022 | 318,000 | ||
2023 | 189,000 | ||
2024 | 77,000 | ||
2025 | 49,000 | ||
Net Carrying Amount | 1,129,000 | $ 1,935,000 | |
Intangible asset amortization expense, excluding impairment charge | 700,000 | 900,000 | $ 1,500,000 |
Executive Search Member [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Net Carrying Amount | 1,129,000 | 1,935,000 | |
Executive Search Member [Member] | Americas [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Net Carrying Amount | 225,000 | 557,000 | |
Executive Search Member [Member] | Europe [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Net Carrying Amount | 852,000 | 1,314,000 | |
Executive Search Member [Member] | Asia Pacific [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Net Carrying Amount | $ 52,000 | $ 64,000 |
Other Assets (Details)
Other Assets (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Other Liabilities Disclosure [Abstract] | ||
Unbilled Receivables, Current | $ 19,652,000 | $ 22,257,000 |
Other Assets, Miscellaneous, Current | 3,627,000 | 5,591,000 |
Other Assets, Current | $ 23,279,000 | $ 27,848,000 |
Line of Credit - Additional Inf
Line of Credit - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Line of Credit Facility [Line Items] | |||||
Payments of Debt Issuance Costs | $ 0 | $ 0 | $ 981 | ||
Long-term Line of Credit, Noncurrent | 0 | 0 | |||
Proceeds from Lines of Credit | 100,000 | 0 | 20,000 | ||
Repayments of Lines of Credit | 100,000 | $ 0 | $ 20,000 | ||
Senior Unsecured Revolving Line Of Credit Member [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Proceeds from Lines of Credit | $ 20,000 | ||||
Repayments of Long-term Debt | $ 12,000 | $ 8,000 | |||
2018 Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Borrowing amount under term loan facility | 175,000 | ||||
Sublimit for letters of credit | 25,000 | ||||
Bridge Loan | 10,000 | ||||
Line of credit facility expansion feature | 75,000 | ||||
Payments of Debt Issuance Costs | $ 1,000 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 1,434,000 | ||
Minimum amount of employee contributions | 6,000 | $ 6,000 | |
Discretionary contribution amount | $ 0 | $ 0 | $ 0 |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 6.00% | 600.00% | |
U.S. Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage to defer up base compensation of employees, effective from January 1, 2006 | 25.00% | ||
Amount to defer up bonus compensation of employees, effective from January 1, 2006 | $ 500,000 | ||
Percentage to defer up eligible bonus compensation, effective from January 1, 2006 | 25.00% | ||
Amount of compensation deferred in plan | $ 30,500,000 | $ 23,800,000 | |
Percentage to defer up cash component of director's fees for non-employee [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage to defer up directors' fees | 100.00% | ||
Non-Employee Directors Voluntary Deferred Compensation Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amount of compensation deferred in plan | $ 900,000 | 1,600,000 | |
Qualified Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage for employee pre-tax and/or after-tax contributions, minimum | 1.00% | ||
Percentage for employee pre-tax and/or after-tax contributions, maximum | 50.00% | ||
Defined Contribution Plan, Cost | $ 5,700,000 | $ 6,300,000 | $ 5,700,000 |
Pension Plan and Life Insuran_3
Pension Plan and Life Insurance Contract - Reconcile Benefit Obligation for Pension Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Interest Cost | $ 212 | $ 338 | $ 373 |
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 790 | 1,506 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (1,402) | (1,375) | |
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) | 1,833 | (459) | |
Defined Benefit Plan, Benefit Obligation | $ 22,351 | $ 20,918 | $ 20,908 |
Pension Plan and Life Insuran_4
Pension Plan and Life Insurance Contract - Benefit Obligation Amounts Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Defined Benefit Plan Disclosure [Line Items] | ||
Liability, Pension and Other Postretirement and Postemployment Benefits, Current | $ 1,434 | $ 1,318 |
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent | 20,917 | 19,600 |
Liability, Defined Benefit Plan, Noncurrent | 53,496 | 46,032 |
Liability, Defined Benefit Plan | $ 22,351 | $ 20,918 |
Pension Plan and Life Insuran_5
Pension Plan and Life Insurance Contract - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Interest Cost | $ 212 | $ 338 | $ 373 |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 1,434 | ||
Defined Benefit Plan Amounts in Accumulated Other Comprehensive Income Not Yet Recognized In Net Periodic Benefit Cost | 5,100 | 4,000 | |
Defined Benefit Plan, Amortization of Gain (Loss) | 140 | 35 | 92 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 352 | $ 373 | $ 465 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 1.03% | 1.71% | 1.64% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Pension Plan and Life Insuran_6
Pension Plan and Life Insurance Contract - Assumptions to Determine Company's Benefit Obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 0.72% | 1.03% | 1.71% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Measurement Date | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Amounts in Accumulated Other Comprehensive Income Not Yet Recognized In Net Periodic Benefit Cost | $ 5,100 | $ 4,000 | |
Defined Benefit Plan, Fair Value of Plan Assets | $ 15,900 | $ 15,300 |
Pension Plan and Life Insuran_7
Pension Plan and Life Insurance Contract - Summary of Benefits Expected to Be Paid in Each of Next Five Years (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Retirement Benefits [Abstract] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 1,434 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 1,415 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 1,393 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 1,367 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 1,335 |
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | $ 6,034 |
Stock-based Compensation - Addi
Stock-based Compensation - Additional Information (Detail) - USD ($) | May 28, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Increase in number of shares of Common Stock reserved for issuance | 500,000 | ||
Shares available for future awards | 1,057,037 | ||
Number of forfeited awards under 2012 Program (in shares) | 708,394 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 3,001,357 | ||
Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units vesting period | 3 years | ||
Pre-tax unrecognized compensation expense | $ 7,100,000 | ||
Expected time to be recognized | 2 years 3 months 18 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 329,068 | 270,488 | |
Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax unrecognized compensation expense | $ 4,000,000 | ||
Expected time to be recognized | 1 year 8 months 12 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 105,847 | 81,661 | |
Performance Stock Units [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units vesting period | 3 years | ||
Performance stock units, Expiration Period | 3 years | ||
Performance Stock Units [Member] | Minimum [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units, variation percentage | 0.00% | ||
Performance Stock Units [Member] | Maximum [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units, variation percentage | 200.00% | ||
Phantom Share Units (PSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax unrecognized compensation expense | $ 4,100,000 | ||
Expected time to be recognized | 2 years 10 months 24 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 118,596 | 154,387 |
Stock-based Compensation - Summ
Stock-based Compensation - Summary of Information with Respect to Stock-Based Compensation (Detail) - USD ($) | May 28, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 500,000 | |||
Income tax benefit related to stock-based compensation included in net income | $ 3,571,000 | $ 3,529,000 | $ 2,674,000 | |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
General and administrative expenses | 3,200,000 | 3,000,000 | 1,200,000 | |
General and Administrative Expense [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Salaries and employee benefits (1) | 460,000 | 460,000 | 562,000 | |
Labor and Related Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Salaries and employee benefits (1) | $ 12,968,000 | $ 12,857,000 | $ 9,548,000 |
Stock-based Compensation - Rest
Stock-based Compensation - Restricted Stock Unit Activity (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 7,100,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of Stock Units, Beginning balance (in shares) | 598,988 | 512,446 |
Number of Stock Units, Granted (in shares) | 329,068 | 270,488 |
Number of Stock Units, Vested and converted to common stock (in shares) | (194,921) | (175,792) |
Number of Stock Units, Forfeited (in shares) | (25,271) | (8,154) |
Number of Stock Units, Ending balance (in shares) | 707,864 | 598,988 |
Weighted- Average Grant-date Fair Value | ||
Weighted-Average Grant-date Fair Value, Beginning balance (in dollars per share) | $ 32.25 | $ 28.83 |
Weighted-Average Grant-date Fair Value, Granted (in dollars per share) | 22.20 | 33.55 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock (in dollars per share) | 29.67 | 24.19 |
Weighted-Average Grant-date Fair Value, Forfeited (in dollars per share) | 30.62 | 34.29 |
Weighted-Average Grant-date Fair Value, Ending balance (in dollars per share) | $ 28.35 | $ 32.25 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 3 months 18 days | |
Special Restricted Stock Unit [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Stock-based Compensation - Perf
Stock-based Compensation - Performance Stock Unit Activity (Detail) - Performance Stock Units [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 4,000,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of Stock Units, Beginning balance (in shares) | 179,559 | 197,117 |
Number of Stock Units, Granted (in shares) | 105,847 | 81,661 |
Number of Stock Units, Vested and converted to common stock (in shares) | (50,472) | (99,219) |
Number of Stock Units, Forfeited (in shares) | 0 | 0 |
Number of Stock Units, Ending balance (in shares) | 234,934 | 179,559 |
Weighted- Average Grant-date Fair Value | ||
Weighted-Average Grant-date Fair Value, Beginning balance (in dollars per share) | $ 32.63 | $ 24.88 |
Weighted-Average Grant-date Fair Value, Granted (in dollars per share) | 23.52 | 35.58 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock (in dollars per share) | 26.69 | 25.04 |
Weighted-Average Grant-date Fair Value, Forfeited (in dollars per share) | 0 | 0 |
Weighted-Average Grant-date Fair Value, Ending balance (in dollars per share) | $ 29.80 | $ 32.63 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 8 months 12 days |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-based Compensation - Phantom Stock Unit Activity (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Performance Shares [Member] | |||
Schedule of Nonvested Performance-based Phantom Units [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 351,634 | 266,060 | 111,673 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 118,596 | 154,387 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (21,346) | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (11,676) | 0 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 4,100,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 10 months 24 days | ||
Restricted Stock Units [Member] | |||
Schedule of Nonvested Performance-based Phantom Units [Line Items] | |||
Allocated Share-based Compensation Expense | $ 3,200,000 | $ 3,000,000 | $ 1,200,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 707,864 | 598,988 | 512,446 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 329,068 | 270,488 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (194,921) | (175,792) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (25,271) | (8,154) | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 7,100,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 3 months 18 days |
Changes in Accumulated Other _3
Changes in Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income ("AOCI") by Component (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning balance | $ 3,824,000 | |||
Net current period other comprehensive income | 407,000 | $ 238,000 | $ 3,164,000 | |
Ending balance | 3,417,000 | 3,824,000 | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 267,602,000 | 309,115,000 | 267,156,000 | $ 212,705,000 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Including Noncontrolling Interest [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 0 | 13,000 | ||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (13,000) | |||
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 6,184,000 | 6,102,000 | ||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 82,000 | |||
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (2,767,000) | (2,291,000) | ||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (476,000) | |||
AOCI Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Net current period other comprehensive income | 407,000 | 238,000 | 3,164,000 | |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 3,417,000 | $ 3,824,000 | $ 4,062,000 | $ 13,315,000 |
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | $ (407,000) |
Restructuring (Details)
Restructuring (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 52,372,000 | $ 4,130,000 | $ 0 | |
Restructuring Reserve | 23,265,000 | 3,245,000 | $ 1,286,000 | $ 13,025,000 |
Employee-related Liabilities, Current | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 7,200,000 | |||
Accrued Salaries and Benefits | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 11,300,000 | |||
Minimum [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Future Restructuring Charges [Domain] | 7,000,000 | |||
Maximum [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Future Restructuring Charges [Domain] | 10,000,000 | |||
Americas [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 30,500,000 | 4,100,000 | ||
Europe [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 8,600,000 | |||
Asia Pacific [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 4,600,000 | |||
Heidrick Consulting [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 4,700,000 | |||
Corporate Segment [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 4,000,000 | $ 100,000 |
Restructuring - Restructuring A
Restructuring - Restructuring Accrual by Segment (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | $ 52,372,000 | $ 4,130,000 | $ 0 |
Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 43,696,000 | 4,102,000 | 0 |
Heidrick Consulting [Domain] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 4,700,000 | ||
Corporate Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 4,000,000 | 100,000 | |
Americas [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 30,500,000 | 4,100,000 | |
Americas [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 30,479,000 | 4,102,000 | 0 |
Europe [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 8,600,000 | 24,500,000 | |
Europe [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 8,603,000 | 0 | 0 |
Asia Pacific [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 4,600,000 | 8,500,000 | |
Asia Pacific [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 4,614,000 | 0 | 0 |
Asia Pacific [Member] | Heidrick Consulting [Domain] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | 4,657,000 | 0 | 0 |
Asia Pacific [Member] | Corporate Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges, Total | $ 4,019,000 | $ 28,000 | $ 0 |
Restructuring - Changes in Rest
Restructuring - Changes in Restructuring Accrual (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | ||||
Restructuring Reserve | $ 23,265,000 | $ 3,245,000 | $ 1,286,000 | $ 13,025,000 |
Restructuring Charges | 52,372,000 | 4,130,000 | 0 | |
Payments for Restructuring | (12,263,000) | (2,213,000) | (9,930,000) | |
Restructuring Reserve, Settled without Cash | 19,456,000 | 17,000 | 195,000 | |
Other Restructuring Costs | (173,000) | 4,000 | (1,933,000) | |
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | (460,000) | 55,000 | (71,000) | |
Employee Severance [Member] | ||||
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | ||||
Restructuring Reserve | 22,312,000 | 3,245,000 | 1,269,000 | 11,866,000 |
Restructuring Charges | (32,780,000) | (4,130,000) | ||
Payments for Restructuring | (11,443,000) | (2,213,000) | (8,689,000) | |
Restructuring Reserve, Settled without Cash | 1,633,000 | 0 | 0 | |
Other Restructuring Costs | (173,000) | 4,000 | (1,843,000) | |
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | (464,000) | 55,000 | (65,000) | |
Facility Closing [Member] | ||||
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | ||||
Restructuring Reserve | 953,000 | 0 | 0 | 148,000 |
Restructuring Charges | (18,910,000) | 0 | ||
Payments for Restructuring | (138,000) | 0 | (248,000) | |
Restructuring Reserve, Settled without Cash | 17,823,000 | 0 | 195,000 | |
Other Restructuring Costs | 0 | 0 | (95,000) | |
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | 4,000 | 0 | 0 | |
Other Restructuring [Member] | ||||
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | ||||
Restructuring Reserve | 0 | 0 | 17,000 | $ 1,011,000 |
Restructuring Charges | (682,000) | 0 | ||
Payments for Restructuring | (682,000) | 0 | (993,000) | |
Restructuring Reserve, Settled without Cash | 0 | 17,000 | 0 | |
Other Restructuring Costs | 0 | 0 | 5,000 | |
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | $ 0 | $ 0 | $ (6,000) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Loss Carryforwards [Line Items] | ||||
Deferred Tax Liability Not Eligible for Netting | $ 100 | $ 300 | ||
Valuation allowance | 25,218 | 24,200 | ||
Unrecognized tax benefits | $ 416 | $ 130 | $ 1,128 | $ 740 |
Several statutes of limitation expected to close | 12 months | |||
Accrued interest and penalties | $ 100 | |||
Minimum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Losses carried forward | five | five | ||
Maximum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Losses carried forward | twenty | twenty | ||
Foreign Tax Authority [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Net operating loss carryforward | $ 128,100 | $ 116,100 | ||
Net operating loss carryforward subject to valuation allowance | 87,900 | 76,900 | ||
Deferred Tax Assets, Tax Credit Carryforwards | 5,200 | 6,500 | ||
Tax Credit Carryforward, Valuation Allowance | $ 5,200 | $ 6,500 | ||
Foreign Tax Authority [Member] | Maximum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Income Tax Examination, Year under Examination | 2017 | |||
Federal Tax Authority [Member] | Minimum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Income Tax Examination, Year under Examination | 2017 | |||
Federal Tax Authority [Member] | Maximum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Income Tax Examination, Year under Examination | 2019 | |||
State Tax Authority [Member] | Minimum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Income Tax Examination, Year under Examination | 2017 | |||
State Tax Authority [Member] | Maximum [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Income Tax Examination, Year under Examination | 2019 |
Income Taxes - Sources of Incom
Income Taxes - Sources of Income before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 11,346 | $ 53,461 | $ 47,191 |
Foreign | (42,744) | 15,828 | 23,301 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $ (31,398) | $ 69,289 | $ 70,492 |
Income Taxes - Provision for (B
Income Taxes - Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current | |||
Federal | $ 4,469 | $ 11,311 | $ 12,311 |
State and local | 1,948 | 4,422 | 4,843 |
Foreign | 2,172 | 4,423 | 6,907 |
Current provision for income taxes | 8,589 | 20,156 | 24,061 |
Deferred | |||
Federal | (2,416) | 2,031 | 6,403 |
State and local | (697) | 698 | (354) |
Foreign | 833 | (465) | (8,913) |
Deferred provision (benefit) for income taxes | (2,280) | 2,264 | (2,864) |
Total provision for income taxes | $ 6,309 | $ 22,420 | $ 21,197 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Statutory U.S. federal income tax rate | 21.00% | ||
Income tax provision (benefit) at the statutory U.S. federal rate | $ (6,594) | $ 14,551 | $ 14,803 |
State income tax provision, net of federal tax benefit | 735 | 3,509 | 3,242 |
Nondeductible expenses, net | 7,065 | 1,570 | 1,651 |
Foreign taxes (includes rate differential and changes in foreign valuation allowance) | 4,470 | 698 | (35) |
Establishment (release) of valuation allowance | 566 | (117) | (43) |
Additional U.S. tax on foreign operations | 0 | (2,550) | (1,628) |
Current/deferred items | (505) | (157) | (1,199) |
Other, net | 572 | (184) | 1,150 |
Total provision for income taxes | $ 6,309 | $ 22,420 | $ 21,197 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets attributable to: | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | $ 22,765 | $ 20,371 |
Foreign net operating loss carryforwards | 19,721 | 17,940 |
Accrued compensation and employee benefits | 18,553 | 14,506 |
Deferred compensation | 17,376 | 17,110 |
Foreign tax credit carryforwards | 5,196 | 6,493 |
Other accrued expenses | 4,350 | 5,882 |
Deferred tax assets, before valuation allowance | 87,961 | 82,302 |
Deferred Tax Assets, Valuation Allowance | 25,218 | 24,200 |
Deferred tax assets, after valuation allowance | 62,743 | 58,102 |
Deferred tax liabilities attributable to: | ||
Operating Loss Carryforwards | 17,526 | 17,716 |
Goodwill | 7,625 | 5,440 |
Depreciation on property and equipment | 1,172 | 1,652 |
Other | 533 | 533 |
Deferred tax liabilities | 26,856 | 25,341 |
Net deferred tax assets | $ 35,887 | $ 32,761 |
Income Taxes - Reconciliation_2
Income Taxes - Reconciliation of Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Unrecognized Tax Benefits Reconciliation [Roll Forward] | |||
Gross unrecognized tax benefits at January 1, | $ 130 | $ 1,128 | $ 740 |
Gross increases for tax positions of prior years | 500 | 389 | 608 |
Gross decreases for tax positions of prior years | (31) | (377) | 0 |
Settlements | (183) | (1,010) | (220) |
Gross unrecognized tax benefits at December 31, | $ 416 | $ 130 | $ 1,128 |
Segment Information - Revenue,
Segment Information - Revenue, Operating Income, Depreciation and Amortization, and Capital Expenditures, by Segment (Detail) | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 621,615,000 | $ 706,924,000 | $ 716,023,000 |
Revenues | 629,370,000 | 725,614,000 | 735,655,000 |
Operating income (loss) | |||
Operating (loss) income | (35,529,000) | 63,511,000 | 68,857,000 |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 26,656,000 | 10,371,000 | 12,522,000 |
Capital expenditures | 7,322,000 | 3,352,000 | 6,185,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 52,372,000 | 4,130,000 | 0 |
Reimbursements [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 7,755,000 | 18,690,000 | 19,632,000 |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of Reportable Segments | 4 | ||
Executive Search [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 565,170,000 | 646,352,000 | 652,891,000 |
Operating income (loss) | |||
Operating (loss) income | 33,255,000 | 117,449,000 | 118,728,000 |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 25,044,000 | 8,460,000 | 9,986,000 |
Capital expenditures | 6,682,000 | 2,486,000 | 4,598,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 43,696,000 | 4,102,000 | 0 |
Heidrick Consulting [Domain] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 56,445,000 | 60,572,000 | 63,132,000 |
Operating income (loss) | |||
Operating (loss) income | (28,369,000) | (18,499,000) | (13,619,000) |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 953,000 | 1,079,000 | 1,577,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,700,000 | ||
Operating Segments [Member] | |||
Operating income (loss) | |||
Operating (loss) income | 4,886,000 | 98,950,000 | 105,109,000 |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 25,997,000 | 9,539,000 | 11,563,000 |
Capital expenditures | 6,798,000 | 3,027,000 | 5,179,000 |
Corporate Segment [Member] | |||
Operating income (loss) | |||
Operating (loss) income | (40,415,000) | (35,439,000) | (36,252,000) |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 659,000 | 832,000 | 959,000 |
Capital expenditures | 524,000 | 325,000 | 1,006,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,000,000 | 100,000 | |
Europe [Member] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | 8,600,000 | ||
Asia Pacific [Member] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,600,000 | ||
Heidrick Consulting [Member] | |||
Depreciation and amortization | |||
Capital expenditures | 116,000 | 541,000 | 581,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,700,000 | ||
Americas [Member] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | 30,500,000 | 4,100,000 | |
Americas [Member] | Executive Search [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 361,416,000 | 415,455,000 | 405,267,000 |
Operating income (loss) | |||
Operating (loss) income | 62,806,000 | 100,833,000 | 96,880,000 |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 20,937,000 | 4,204,000 | 4,605,000 |
Capital expenditures | 4,258,000 | 1,121,000 | 601,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 30,479,000 | 4,102,000 | 0 |
Europe [Member] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | 8,600,000 | 24,500,000 | |
Europe [Member] | Executive Search [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 124,243,000 | 135,070,000 | 145,348,000 |
Operating income (loss) | |||
Operating (loss) income | (22,827,000) | 3,026,000 | 5,849,000 |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 2,270,000 | 2,784,000 | 3,735,000 |
Capital expenditures | 409,000 | 1,070,000 | 3,557,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 8,603,000 | 0 | 0 |
Asia Pacific [Member] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,600,000 | 8,500,000 | |
Asia Pacific [Member] | Executive Search [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 79,511,000 | 95,827,000 | 102,276,000 |
Operating income (loss) | |||
Operating (loss) income | (6,724,000) | 13,590,000 | 15,999,000 |
Depreciation and amortization | |||
Depreciation, Depletion and Amortization | 1,837,000 | 1,472,000 | 1,646,000 |
Capital expenditures | 2,015,000 | 295,000 | 440,000 |
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,614,000 | 0 | 0 |
Asia Pacific [Member] | Heidrick Consulting [Domain] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | 4,657,000 | 0 | 0 |
Asia Pacific [Member] | Corporate Segment [Member] | |||
Restructuring Costs [Abstract] | |||
Restructuring Charges | $ 4,019,000 | $ 28,000 | $ 0 |
Segment Information - Identifia
Segment Information - Identifiable Assets, Goodwill and Other Intangible Assets, Net, by Segment (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current assets | |||
Total allocated current assets | $ 472,686,000 | $ 494,482,000 | |
Unallocated non-current assets | 222,354,000 | 220,925,000 | |
Intangible Assets, Net (Including Goodwill) | 92,772,000 | 128,766,000 | |
Goodwill and other intangible assets, net | |||
Assets | 787,812,000 | 844,173,000 | |
Payments to Acquire Property, Plant, and Equipment | 7,322,000 | 3,352,000 | $ 5,960,000 |
Executive Search [Member] | |||
Current assets | |||
Total allocated current assets | 446,201,000 | 462,015,000 | |
Operating Segments [Member] | |||
Current assets | |||
Total allocated current assets | 470,747,000 | 492,643,000 | |
Corporate Segment [Member] | |||
Current assets | |||
Total allocated current assets | 1,939,000 | 1,839,000 | |
Executive Search Member [Member] | |||
Current assets | |||
Intangible Assets, Net (Including Goodwill) | 92,772,000 | 128,766,000 | |
Heidrick Consulting [Member] | |||
Current assets | |||
Total allocated current assets | 24,546,000 | 30,628,000 | |
Intangible Assets, Net (Including Goodwill) | 0 | 0 | |
Americas [Member] | Executive Search [Member] | |||
Current assets | |||
Total allocated current assets | 284,837,000 | 286,818,000 | |
Americas [Member] | Executive Search Member [Member] | |||
Current assets | |||
Intangible Assets, Net (Including Goodwill) | 91,868,000 | 93,054,000 | |
Europe [Member] | Executive Search [Member] | |||
Current assets | |||
Total allocated current assets | 84,841,000 | 96,230,000 | |
Europe [Member] | Executive Search Member [Member] | |||
Current assets | |||
Intangible Assets, Net (Including Goodwill) | 852,000 | 26,893,000 | |
Asia Pacific [Member] | Executive Search [Member] | |||
Current assets | |||
Total allocated current assets | 76,523,000 | 78,967,000 | |
Asia Pacific [Member] | Executive Search Member [Member] | |||
Current assets | |||
Intangible Assets, Net (Including Goodwill) | $ 52,000 | $ 8,819,000 |
Guarantees - Additional Informa
Guarantees - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Guarantees [Abstract] | |
Extend termination dates of the leases | extend through 2033 |
Maximum undiscounted payments under outstanding guarantees | $ 5,400 |