Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 24, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | HSII | |
Entity Registrant Name | HEIDRICK & STRUGGLES INTERNATIONAL INC | |
Entity Central Index Key | 1066605 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 18,319,620 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $107,625 | $211,352 |
Restricted cash | 6,500 | 6,501 |
Accounts receivable, net | 83,004 | 68,353 |
Other receivables | 11,578 | 10,613 |
Prepaid expenses | 15,085 | 14,536 |
Other current assets | 1,292 | 1,592 |
Income taxes recoverable | 5,645 | 5,288 |
Deferred income taxes | 12,454 | 12,094 |
Total current assets | 243,183 | 330,329 |
Non-current assets: | ||
Property and equipment, net | 34,348 | 30,417 |
Restricted cash | 1,305 | 1,411 |
Assets designated for retirement and pension plans | 17,235 | 19,426 |
Investments | 15,281 | 13,989 |
Other non-current assets | 7,706 | 6,601 |
Goodwill | 121,316 | 122,176 |
Other intangible assets, net | 19,632 | 20,939 |
Deferred income taxes | 22,077 | 23,413 |
Total non-current assets | 238,900 | 238,372 |
Total assets | 482,083 | 568,701 |
Current liabilities: | ||
Current portion of debt | 6,000 | 6,000 |
Accounts payable | 7,702 | 5,493 |
Accrued salaries and employee benefits | 60,931 | 130,434 |
Deferred revenue, net | 30,164 | 30,452 |
Other current liabilities | 32,979 | 26,835 |
Income taxes payable | 2,535 | 6,684 |
Total current liabilities | 140,311 | 205,898 |
Non-current liabilities: | ||
Non-current debt, less current maturities | 22,000 | 23,500 |
Retirement and pension plans | 38,294 | 39,892 |
Other non-current liabilities | 36,130 | 54,747 |
Total non-current liabilities | 96,424 | 118,139 |
Total liabilities | 236,735 | 324,037 |
Commitments and contingencies (Note 17) | ||
Stockholders' equity: | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued at March 31, 2015 and December 31, 2014 | ||
Common stock, $0.01 par value, 100,000,000 shares authorized, 19,585,777 shares issued, 18,315,222 and 18,239,939 shares outstanding at March 31, 2015 and December 31, 2014, respectively | 196 | 196 |
Treasury stock at cost, 1,270,555 and 1,345,838 shares at March 31, 2015 and December 31, 2014, respectively | -41,736 | -44,261 |
Additional paid in capital | 230,001 | 232,075 |
Retained earnings | 46,346 | 45,431 |
Accumulated other comprehensive income | 10,541 | 11,223 |
Total stockholders' equity | 245,348 | 244,664 |
Total liabilities and stockholders' equity | $482,083 | $568,701 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $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 outstanding | 18,315,222 | 18,239,939 |
Treasury stock, shares | 1,270,555 | 1,345,838 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenue: | ||
Revenue before reimbursements (net revenue) | $115,153 | $111,121 |
Reimbursements | 3,326 | 4,411 |
Total revenue | 118,479 | 115,532 |
Operating expenses: | ||
Salaries and employee benefits | 78,473 | 75,915 |
General and administrative expenses | 30,008 | 34,426 |
Reimbursed expenses | 3,326 | 4,411 |
Total operating expenses | 111,807 | 114,752 |
Operating income | 6,672 | 780 |
Non-operating expense: | ||
Interest, net | -71 | 30 |
Other, net | -75 | -298 |
Net non-operating expense | -146 | -268 |
Income before income taxes | 6,526 | 512 |
Provision for income taxes | 3,100 | 1,256 |
Net income (loss) | 3,426 | -744 |
Other comprehensive (loss) income, net of tax: | ||
Foreign currency translation adjustment | -843 | 1,033 |
Net unrealized gains on available-for-sale investments | 237 | 68 |
Unrealized loss on cash flow hedge | -76 | -4 |
Other comprehensive (loss) income, net of tax | -682 | 1,097 |
Comprehensive income | $2,744 | $353 |
Basic weighted average common shares outstanding | 18,249 | 18,152 |
Dilutive common shares | 315 | |
Diluted weighted average common shares outstanding | 18,564 | 18,152 |
Basic net income (loss) per common share | $0.19 | ($0.04) |
Diluted net income (loss) per common share | $0.18 | ($0.04) |
Cash dividends paid per share | $0.13 | $0.13 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $) | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
In Thousands, unless otherwise specified | ||||||
Beginning Balance at Dec. 31, 2014 | $244,664 | $196 | ($44,261) | $232,075 | $45,431 | $11,223 |
Beginning Balance, shares at Dec. 31, 2014 | 19,586 | 1,346 | ||||
Net income | 3,426 | 3,426 | ||||
Other comprehensive loss, net of tax | -682 | -682 | ||||
Treasury and common stock transactions: | ||||||
Stock-based compensation | 1,033 | 1,033 | ||||
Vesting of equity, net of tax withholdings | -820 | 2,525 | -3,345 | |||
Vesting of equity, net of tax withholdings, shares | -75 | |||||
Cash dividends declared ($0.13 per share) | -2,382 | -2,382 | ||||
Dividend equivalents on restricted stock units | -129 | -129 | ||||
Tax deficit related to stock-based compensation | 238 | 238 | ||||
Ending Balance at Mar. 31, 2015 | $245,348 | $196 | ($41,736) | $230,001 | $46,346 | $10,541 |
Ending Balance, shares at Mar. 31, 2015 | 19,586 | 1,271 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Cash dividends per share | $0.13 |
Retained Earnings [Member] | |
Cash dividends per share | $0.13 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows-operating activities: | ||
Net income (loss) | $3,426 | ($744) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation and amortization | 3,732 | 3,850 |
Deferred income taxes | 296 | 399 |
Stock-based compensation expense | 1,033 | 336 |
Accretion expense related to earnout payments | 298 | 423 |
Cash paid for restructuring charges | -33 | -36 |
Changes in assets and liabilities, net of effects of acquisitions: | ||
Accounts and other receivables | -17,581 | -13,258 |
Accounts payable | 2,315 | 214 |
Accrued expenses | -76,923 | -54,297 |
Deferred revenue | 228 | -4,997 |
Income taxes payable, net | -4,612 | -4,569 |
Retirement and pension plan assets and liabilities | 1,308 | 426 |
Prepaid expenses | -794 | -1,621 |
Other assets and liabilities, net | -464 | -1,034 |
Net cash used in operating activities | -87,771 | -74,908 |
Cash flows-investing activities: | ||
Restricted cash | 137 | |
Capital expenditures | -6,282 | -1,127 |
Purchases of available for sale investments | -1,154 | -754 |
Proceeds from sales of available for sale investments | 119 | 467 |
Net cash used in investing activities | -7,317 | -1,277 |
Cash flows-financing activities: | ||
Debt repayment | -1,500 | -1,500 |
Cash dividends paid | -2,511 | -2,472 |
Payment of employee tax withholdings on equity transactions | -820 | -382 |
Acquisition earnout payments | -723 | |
Net cash used in financing activities | -5,554 | -4,354 |
Effect of exchange rates fluctuations on cash and cash equivalents | -3,085 | 298 |
Net decrease in cash and cash equivalents | -103,727 | -80,241 |
Cash and cash equivalents at beginning of period | 211,352 | 181,646 |
Cash and cash equivalents at end of period | $107,625 | $101,405 |
Basis_of_Presentation_of_Inter
Basis of Presentation of Interim Financial Information | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation of Interim Financial Information | 1. Basis of Presentation of Interim Financial Information |
The accompanying unaudited Condensed Consolidated Financial Statements of Heidrick & Struggles International, Inc. and subsidiaries (the “Company”) have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Significant items subject to estimates and assumptions include revenue recognition, income taxes, interim effective tax rate, assessment of goodwill and other intangible assets for impairment, allowance for doubtful accounts, and stock-based compensation. Estimates are subject to a degree of uncertainty and actual results could differ from these estimates. These financial statements and notes are to be read in conjunction with the Company’s Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the SEC on March 11, 2015. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies |
A complete listing of the Company’s significant accounting policies is discussed in Note 2, Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. | |
Recent Financial Accounting Standards | |
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. The ASU requires that an entity recognizes revenue to depict the transfer of promised goods or services to customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for these goods or services. The standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients or (ii) a retrospective approach with the cumulative effect upon initial adoption recognized at the date of adoption. The Company is currently evaluating the effect that this pronouncement will have on its financial statements and related disclosures. The effect is not known or reasonably estimable at this time. |
Allowance_for_Doubtful_Account
Allowance for Doubtful Accounts | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Receivables [Abstract] | |||||
Allowance for Doubtful Accounts | 3. Allowance for Doubtful Accounts | ||||
The activity of the allowance for doubtful accounts for the three months ended March 31, 2015 is as follows: | |||||
Balance at December 31, 2014 | $ | 3,942 | |||
Provision charged to income | 447 | ||||
Write-offs | (365 | ) | |||
Currency | (136 | ) | |||
Balance at March 31, 2015 | $ | 3,888 | |||
Property_and_Equipment_net
Property and Equipment, net | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment, net | 4. Property and Equipment, net | ||||||||
The components of the Company’s property and equipment are as follows: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Leasehold improvements | $ | 42,819 | $ | 43,930 | |||||
Office furniture, fixtures and equipment | 17,402 | 18,693 | |||||||
Computer equipment and software | 31,229 | 30,751 | |||||||
Property and equipment, gross | 91,450 | 93,374 | |||||||
Accumulated depreciation | (57,102 | ) | (62,957 | ) | |||||
Property and equipment, net | $ | 34,348 | $ | 30,417 | |||||
Depreciation expense for the three months ended March 31, 2015 and 2014 was $2.5 million and $2.5 million, respectively. |
Restricted_Cash
Restricted Cash | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Restricted Cash | 5. Restricted Cash | ||||||||
The components of the Company’s restricted cash are as follows: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Current restricted cash | |||||||||
Retention escrow | $ | 6,500 | $ | 6,501 | |||||
Total current restricted cash | $ | 6,500 | $ | 6,501 | |||||
Non-current restricted cash | |||||||||
Lease guarantees | $ | 1,209 | $ | 1,316 | |||||
Business licenses | 96 | 95 | |||||||
Total non-current restricted cash | $ | 1,305 | $ | 1,411 | |||||
The retention escrow is associated with the Senn Delaney acquisition and will be paid to certain key executives of Senn Delaney if they remain with the Company for three years subsequent to the acquisition (See Note 8, Acquisitions). The Company has certain lease agreements and business licenses with terms that require the Company to restrict cash through the termination dates of the agreements, which extend through 2018. |
Investments
Investments | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Investments Schedule [Abstract] | |||||||||
Investments | 6. Investments | ||||||||
The components of the Company’s investments are as follows: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
U.S. non-qualified deferred compensation plan | $ | 15,028 | $ | 13,709 | |||||
Warrants and equity securities | 253 | 280 | |||||||
Total | $ | 15,281 | $ | 13,989 | |||||
The Company’s U.S. non-qualified deferred compensation plan consists primarily of U.S. marketable securities and mutual funds, all of which are valued using Level 1 inputs (See Note 7, Fair Value Measurements). The aggregate cost basis for these investments was $11.2 million and $10.1 million as of March 31, 2015 and December 31, 2014, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | 7. Fair Value Measurements | ||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: | |||||||||||||||||
• | Level 1 – Quoted prices in active markets for identical assets and liabilities. | ||||||||||||||||
• | 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. | ||||||||||||||||
• | 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. | ||||||||||||||||
Quoted Prices | Significant | Significant | Total | ||||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
At March 31, 2015 | |||||||||||||||||
U.S. non-qualified deferred compensation plan | $ | 15,028 | $ | — | $ | — | $ | 15,028 | |||||||||
Assets designated for retirement and pension plans | — | 18,527 | — | 18,527 | |||||||||||||
Warrants and equity securities | — | — | 253 | 253 | |||||||||||||
Acquisition earnout accruals | — | — | (11,760 | ) | (11,760 | ) | |||||||||||
$ | 15,028 | $ | 18,527 | $ | (11,507 | ) | $ | 22,048 | |||||||||
Quoted Prices | Significant | Significant | Total | ||||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
At December 31, 2014 | |||||||||||||||||
U.S. non-qualified deferred compensation plan | $ | 13,709 | $ | — | $ | — | $ | 13,709 | |||||||||
Assets designated for retirement and pension plans | — | 20,880 | — | 20,880 | |||||||||||||
Derivatives designated as cash flow hedge | — | 125 | — | 125 | |||||||||||||
Warrants and equity securities | — | — | 280 | 280 | |||||||||||||
Acquisition earnout accruals | — | — | (12,944 | ) | (12,944 | ) | |||||||||||
$ | 13,709 | $ | 21,005 | $ | (12,664 | ) | $ | 22,050 | |||||||||
The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities for the three months ended March 31, 2015. | |||||||||||||||||
Warrants | Acquisition | Total | |||||||||||||||
and Equity | Earnout | ||||||||||||||||
Securities | Accruals | ||||||||||||||||
Balance at December 31, 2014 | $ | 280 | $ | (12,944 | ) | $ | (12,664 | ) | |||||||||
Realized / unrealized gains | (27 | ) | — | (27 | ) | ||||||||||||
Earnout accretion | — | (298 | ) | (298 | ) | ||||||||||||
Earnout payments | — | 723 | 723 | ||||||||||||||
Foreign currency translation | — | 130 | 130 | ||||||||||||||
Other | — | 629 | 629 | ||||||||||||||
Balance at March 31, 2015 | $ | 253 | $ | (11,760 | ) | $ | (11,507 | ) | |||||||||
The Level 2 assets above are fair valued using a market approach. The Level 3 liabilities are: (i) accruals for future earnout payments related to prior acquisitions, the values of which are determined based on discounted cash flow models; and (ii) warrant and equity securities, the values of which are determined using a valuation model. The Company considers the recorded value of its financial assets and liabilities, which consist primarily of cash and cash equivalents, accounts receivable, and accounts payable, to approximate the fair value of the respective assets and liabilities at March 31, 2015 and December 31, 2014 based upon the short-term nature of the assets and liabilities. |
Acquisitions
Acquisitions | 3 Months Ended |
Mar. 31, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | 8. Acquisitions |
Scambler MacGregor Executive Search Pty Limited | |
In November 2013, the Company acquired Scambler MacGregor, an Australian-based retained Executive Search boutique in the financial services industry for 1.1 million Australian dollars (equivalent to $0.8 million at March 31, 2015 and $0.9 million at December 31, 2014) of initial consideration, pursuant to a stock purchase, which was funded from existing cash. In December 2013, the Company paid an additional $0.1 million related to the final working capital settlement. The former owners of Scambler MacGregor are eligible to receive earnout payments of up to 2.8 million Australian dollars (equivalent to $2.1 million as of March 31, 2015) based on the achievement of certain revenue metrics over the period November 2013 through December 2018, of which $0.7 million was paid during the first quarter of 2015. When estimating the fair value of future earnout payments, the Company had accrued 1.5 million Australian dollars and 2.4 million Australian dollars (equivalent to $1.2 million and $2.0 million, respectively) as of March 31, 2015 and December 31, 2014, respectively. The Company also recorded $0.4 million of intangible assets and $2.7 million of goodwill. The goodwill is primarily related to the acquired workforce and strategic fit. | |
Senn-Delaney Leadership Consulting Group, LLC | |
In December 2012, the Company acquired Senn-Delaney Leadership Consulting Group, LLC, a global leader of corporate culture shaping. Under the terms of the purchase agreement, the Company paid $53.5 million at closing for 100 percent of the equity of Senn Delaney. The agreement also included additional cash consideration up to $15.0 million based on the realization of specific earnings milestones achieved over the period December 2012 through December 2015, of which $3.4 million was paid during the second quarter of 2014. The Company had accrued $10.6 million and $10.9 million at March 31, 2015 and December 31, 2014, respectively, for the remaining cash consideration. The Company has recognized $0.3 million and $0.4 million of accretion expense included in General and administrative expenses in March 31, 2015 and March 31, 2014, respectively. The Company also holds $6.5 million in a retention escrow that will be paid to certain key executives of Senn Delaney if they remain with the Company for three years subsequent to the acquisition. The Company recognized $0.5 million and $0.6 million of compensation expense included in Salaries and employee benefits in March 31, 2015 and March 31, 2014, respectively, related to the retention awards. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | 9. Goodwill and Other Intangible Assets | ||||||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||||||
Changes in the carrying amount of goodwill by segment for the three months ended March 31, 2015 are as follows: | |||||||||||||||||||||||||||||
Executive | Executive | Culture | Total | ||||||||||||||||||||||||||
Search and | Search and | Shaping | |||||||||||||||||||||||||||
Leadership | Leadership | ||||||||||||||||||||||||||||
Consulting- | Consulting- | ||||||||||||||||||||||||||||
Americas | Asia Pacific | ||||||||||||||||||||||||||||
Balance at December 31, 2014 | $ | 82,270 | $ | 10,255 | $ | 29,651 | $ | 122,176 | |||||||||||||||||||||
Exchange rate fluctuations | (329 | ) | (431 | ) | (100 | ) | (860 | ) | |||||||||||||||||||||
Balance at March 31, 2015 | $ | 81,941 | $ | 9,824 | $ | 29,551 | $ | 121,316 | |||||||||||||||||||||
Other Intangible Assets, net | |||||||||||||||||||||||||||||
The Company’s other intangible assets, net by segment, are as follows: | |||||||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Executive Search and Leadership Consulting | |||||||||||||||||||||||||||||
Americas | $ | 973 | $ | 1,044 | |||||||||||||||||||||||||
Asia Pacific | 321 | 383 | |||||||||||||||||||||||||||
Total Executive Search and Leadership Consulting | 1,294 | 1,427 | |||||||||||||||||||||||||||
Culture Shaping | 18,338 | 19,512 | |||||||||||||||||||||||||||
Total other intangible assets, net | $ | 19,632 | $ | 20,939 | |||||||||||||||||||||||||
The carrying amount of amortizable intangible assets and the related accumulated amortization are as follows: | |||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||
Weighted | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||||||
Average | Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | |||||||||||||||||||||||
Life | Amount | Amount | Amount | Amount | |||||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||||||
Client relationships | 8.7 | $ | 23,133 | $ | (15,527 | ) | $ | 7,606 | $ | 23,316 | $ | (14,999 | ) | $ | 8,317 | ||||||||||||||
Trade name | 15 | 9,259 | (2,609 | ) | 6,650 | 9,334 | (2,358 | ) | 6,976 | ||||||||||||||||||||
Software | 7 | 7,200 | (2,314 | ) | 4,886 | 7,200 | (2,057 | ) | 5,143 | ||||||||||||||||||||
Non-compete | 5 | 586 | (96 | ) | 490 | 593 | (90 | ) | 503 | ||||||||||||||||||||
Total intangible assets | 10.3 | $ | 40,178 | $ | (20,546 | ) | $ | 19,632 | $ | 40,443 | $ | (19,504 | ) | $ | 20,939 | ||||||||||||||
Intangible asset amortization expense for the three months ended March 31, 2015 and 2014 was $1.2 million and $1.4 million, respectively. The estimated intangible amortization expense is $4.6 million for fiscal year 2015, $4.4 million for fiscal year 2016, $3.5 million for fiscal year 2017, $2.8 million for fiscal year 2018, and $2.2 million for fiscal year 2019. These amounts are based on intangible assets recorded as of March 31, 2015, and actual amortization expense could differ from these estimates as a result of future acquisitions and other factors. |
Other_NonCurrent_Liabilities
Other Non-Current Liabilities | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Other Liabilities Disclosure [Abstract] | |||||||||
Other Non-Current Liabilities | 10. Other Non-Current Liabilities | ||||||||
The components of other non-current liabilities are as follows: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Accrued salaries and employee benefits | $ | 19,969 | $ | 31,605 | |||||
Premise related costs | 14,589 | 15,058 | |||||||
Accrued earnout payments | 807 | 7,567 | |||||||
Other | 765 | 517 | |||||||
Total other non-current liabilities | $ | 36,130 | $ | 54,747 | |||||
Line_of_Credit_and_Term_Loan
Line of Credit and Term Loan | 3 Months Ended |
Mar. 31, 2015 | |
Debt Disclosure [Abstract] | |
Line of Credit and Term Loan | 11. Line of Credit and Term Loan |
On January 31, 2013 the Company borrowed $40 million under a committed term loan facility (the “Term Facility”), and $28.0 million and $29.5 million was outstanding as of March 31, 2015 and December 31, 2014, respectively. The Term Facility is being repaid over a five-year period pursuant to which the Company will make fifteen quarterly payments of $1.5 million through 2016 and quarterly payments of $2.0 million during 2017. The remaining outstanding balance of the Term Facility will be paid January 31, 2018. The interest rate on the debt is Adjusted LIBOR plus a spread which is dependent on the Company’s leverage ratio. The Company entered into an interest rate swap to address the risk related to the fluctuation in Adjusted LIBOR. As of March 31, 2015 the Company’s interest rate, including the impact of the interest rate swap, was 2.29%. | |
The Company holds a committed unsecured revolving credit facility in an aggregate amount of up to $75 million that also includes an expansion feature that adds another $25 million provided the Company is in compliance with the conditions set forth in the agreement. The agreement also provides for the issuance of letters of credit and matures on June 22, 2016. There were no borrowings made under the unsecured revolving credit facility during the three months ended March 31, 2015 and for the year ended December 31, 2014. The Company was in compliance with the financial and other covenants and no event of default existed as of March 31, 2015 and for the year ended December 31, 2014, respectively. |
Stockbased_Compensation
Stock-based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Stock-based Compensation | 12. Stock-based Compensation | ||||||||
The Company’s 2012 Heidrick & Struggles GlobalShare Program (the “2012 Program”) provides for grants of stock options, stock appreciation rights, and other stock-based 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. The 2012 Program originally authorized 1,300,000 shares of Common Stock for issuance pursuant to awards under the plan. On May 22, 2014, the stockholders of the Company approved an amendment to the 2012 Program to increase the number of shares of Common Stock reserved for issuance under the 2012 Program by 700,000 shares. As of March 31, 2015 999,007 awards have been issued under the 2012 Program and 1,352,679 shares remain available for future awards, which includes 351,686 forfeited awards. The 2012 Program provides that no awards can be granted after May 24, 2022. | |||||||||
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: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Salaries and employee benefits | $ | 1,033 | $ | 336 | |||||
Income tax benefit related to stock-based compensation included in net income | 416 | 145 | |||||||
Restricted Stock Units | |||||||||
Restricted stock unit activity for the three months ended March 31, 2015: | |||||||||
Number of | Weighted- | ||||||||
Restricted | Average | ||||||||
Stock Units | Grant-date | ||||||||
Fair Value | |||||||||
Outstanding on December 31, 2014 | 462,717 | $ | 18.07 | ||||||
Granted | 167,121 | 23.74 | |||||||
Vested and converted to common stock | (96,546 | ) | 17.92 | ||||||
Forfeited | (6,239 | ) | 20.87 | ||||||
Outstanding on March 31, 2015 | 527,053 | 19.86 | |||||||
As of March 31, 2015, there was $6.1 million of pre-tax unrecognized compensation expense related to unvested restricted stock units, which is expected to be recognized over a weighted average of 2.8 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 year period. The vesting will vary between 0%—200% based on the attainment of operating income goals over the 3 year vesting period. The performance stock units are expensed on a straight-line basis over the 3 year vesting period. | |||||||||
In 2014, the Company granted market-based restricted stock units to the Chief Executive Officer. The market-based awards vest after a two-year service period and if the price of the Company’s common stock exceeds specified targets. The fair value of the market-based awards 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 market conditions and the resulting fair value of the award. Compensation costs related to the market-based awards are recognized regardless of whether the market condition is satisfied, as long as the requisite service has been provided. | |||||||||
Performance stock unit activity for the three months ended March 31, 2015: | |||||||||
Number of | Weighted- | ||||||||
Restricted | Average | ||||||||
Stock Units | Grant-date | ||||||||
Fair Value | |||||||||
Outstanding on December 31, 2014 | 229,170 | $ | 17.06 | ||||||
Granted | 59,221 | 23.64 | |||||||
Vested and converted to common stock | (13,397 | ) | 20.62 | ||||||
Forfeited | (2,970 | ) | 20.62 | ||||||
Outstanding on March 31, 2015 | 272,024 | 18.28 | |||||||
As of March 31, 2015, there was $3.0 million of pre-tax unrecognized compensation expense related to unvested performance stock units, which is expected to be recognized over a weighted average of 2.2 years. |
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 13. Income Taxes |
The Company reported income before taxes of $6.5 million and $0.5 million and income tax provision of $3.1 million and $1.3 million for the three months ended March 31, 2015 and 2014, respectively. The increase in tax provision from the first quarter of 2014 is due to an increase in income before taxes of $6.0 million, a decrease in losses that are not benefited for tax purposes of $0.4 million and a change in the forecasted mix of income. |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income | 14. Changes in Accumulated Other Comprehensive Income | ||||||||||||||||||||
The changes in Accumulated other comprehensive income (“AOCI”) by component for the three months ended March 31, 2015 is summarized below: | |||||||||||||||||||||
Cash | Available- | Foreign | Pension | AOCI | |||||||||||||||||
Flow | for-Sale | Currency | |||||||||||||||||||
Hedge | Securities | Translation | |||||||||||||||||||
Balance at December 31, 2014 | $ | 78 | $ | 3,183 | $ | 10,372 | $ | (2,410 | ) | $ | 11,223 | ||||||||||
Other comprehensive income (loss) before reclassification, net of tax | (104 | ) | 284 | (843 | ) | — | (663 | ) | |||||||||||||
Amount reclassified from AOCI (1) | 28 | (47 | ) | — | — | (19 | ) | ||||||||||||||
Net current period other comprehensive income (loss) | (76 | ) | 237 | (843 | ) | — | (682 | ) | |||||||||||||
Balance at March 31, 2015 | $ | 2 | $ | 3,420 | $ | 9,529 | $ | (2,410 | ) | $ | 10,541 | ||||||||||
-1 | Cash Flow Hedge and Available-for-Sale Securities reclassifications from AOCI are included in Interest, net and Other, net, respectively, in the Condensed Consolidated Statement of Comprehensive Income. |
Segment_Information
Segment Information | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Segment Reporting [Abstract] | |||||||||
Segment Information | 15. Segment Information | ||||||||
The Company operates its executive search and leadership consulting services in the Americas; Europe (which includes Africa); and Asia Pacific (which includes the Middle East) and operates its culture shaping business as a separate segment. | |||||||||
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. | |||||||||
In the third quarter of 2014, consistent with the Company’s practice to periodically review its reporting structure and segments, the Company evaluated its allocation of corporate and support costs to each of its regions. In conjunction with that review, to better align the Company’s cost and reporting structure, additional costs were allocated to the regions reflecting management’s current view of the costs necessary to support the regional operations. The prior period results have been recast to reflect these changes and present comparative year-over-year results. | |||||||||
The revenue and operating income (loss) by segment are as follows: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Revenue: | |||||||||
Executive Search and Leadership Consulting | |||||||||
Americas | $ | 64,475 | $ | 57,586 | |||||
Europe | 19,658 | 26,224 | |||||||
Asia Pacific | 22,904 | 20,795 | |||||||
Total Executive Search and Leadership Consulting | 107,037 | 104,605 | |||||||
Culture Shaping | 8,116 | 6,516 | |||||||
Revenue before reimbursements (net revenue) | 115,153 | 111,121 | |||||||
Reimbursements | 3,326 | 4,411 | |||||||
Total | $ | 118,479 | $ | 115,532 | |||||
Operating income (loss): | |||||||||
Executive Search and Leadership Consulting | |||||||||
Americas | $ | 13,902 | $ | 11,869 | |||||
Europe | (497 | ) | 640 | ||||||
Asia Pacific | 2,890 | 175 | |||||||
Total Executive Search and Leadership Consulting | 16,295 | 12,684 | |||||||
Culture Shaping | 821 | (530 | ) | ||||||
Total segments | 17,116 | 12,154 | |||||||
Global Operations Support | (10,444 | ) | (11,374 | ) | |||||
Total | $ | 6,672 | $ | 780 | |||||
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2015 | |
Guarantees [Abstract] | |
Guarantees | 16. Guarantees |
The Company has issued cash collateralized bank guarantees and letter of credit backed bank guarantees supporting certain obligations, primarily the payment of office lease obligations and business license requirements for certain of its subsidiaries in Europe and Asia Pacific. The bank guarantees were made to secure the respective agreements and are for the terms of the agreements, which extend through 2018. For each bank guarantee issued, the Company would have to perform under the guarantee 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 guarantees is approximately $1.9 million as of March 31, 2015. 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 | 3 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 17. 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, including the “UK Employee Benefits Trust” matter discussed below, will not have a material adverse effect on its financial condition, results of operations or liquidity. | |
UK Employee Benefits Trust | |
On January 27, 2010, HM Revenue & Customs (“HMRC”) in the United Kingdom notified the Company that it was challenging the tax treatment of certain of the Company’s contributions in the United Kingdom to an Employee Benefits Trust between 2002 and 2008. HMRC alleges that these contributions should have been subject to Pay As You Earn tax and Class 1 National Insurance Contributions in the United Kingdom; and HMRC is proposing an adjustment to the Company’s payroll tax liability for the affected years. The aggregate amount of HMRC’s proposed adjustment is approximately £3.9 million (equivalent to $5.8 million at March 31, 2015). The Company has appealed the proposed adjustment. At this time, the Company believes that the likelihood of an unfavorable outcome with respect to the proposed adjustment is not probable and the potential amount of any loss cannot be reasonably estimated. The Company also believes that the amount of any final adjustment would not be material to the Company’s financial condition. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Recent Financial Accounting Standards | Recent Financial Accounting Standards |
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. The ASU requires that an entity recognizes revenue to depict the transfer of promised goods or services to customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for these goods or services. The standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients or (ii) a retrospective approach with the cumulative effect upon initial adoption recognized at the date of adoption. The Company is currently evaluating the effect that this pronouncement will have on its financial statements and related disclosures. The effect is not known or reasonably estimable at this time. |
Allowance_for_Doubtful_Account1
Allowance for Doubtful Accounts (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Receivables [Abstract] | |||||
Summary of Allowance for Doubtful Accounts | The activity of the allowance for doubtful accounts for the three months ended March 31, 2015 is as follows: | ||||
Balance at December 31, 2014 | $ | 3,942 | |||
Provision charged to income | 447 | ||||
Write-offs | (365 | ) | |||
Currency | (136 | ) | |||
Balance at March 31, 2015 | $ | 3,888 | |||
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Components of Company's Property and Equipment | The components of the Company’s property and equipment are as follows: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Leasehold improvements | $ | 42,819 | $ | 43,930 | |||||
Office furniture, fixtures and equipment | 17,402 | 18,693 | |||||||
Computer equipment and software | 31,229 | 30,751 | |||||||
Property and equipment, gross | 91,450 | 93,374 | |||||||
Accumulated depreciation | (57,102 | ) | (62,957 | ) | |||||
Property and equipment, net | $ | 34,348 | $ | 30,417 | |||||
Restricted_Cash_Tables
Restricted Cash (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Components of Restricted Cash | The components of the Company’s restricted cash are as follows: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Current restricted cash | |||||||||
Retention escrow | $ | 6,500 | $ | 6,501 | |||||
Total current restricted cash | $ | 6,500 | $ | 6,501 | |||||
Non-current restricted cash | |||||||||
Lease guarantees | $ | 1,209 | $ | 1,316 | |||||
Business licenses | 96 | 95 | |||||||
Total non-current restricted cash | $ | 1,305 | $ | 1,411 | |||||
Investments_Tables
Investments (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Investments Schedule [Abstract] | |||||||||
Components of Company's Investments | The components of the Company’s investments are as follows: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
U.S. non-qualified deferred compensation plan | $ | 15,028 | $ | 13,709 | |||||
Warrants and equity securities | 253 | 280 | |||||||
Total | $ | 15,281 | $ | 13,989 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Levels of Inputs Used to Measure Fair Value of Assets | |||||||||||||||||
Quoted Prices | Significant | Significant | Total | ||||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
At March 31, 2015 | |||||||||||||||||
U.S. non-qualified deferred compensation plan | $ | 15,028 | $ | — | $ | — | $ | 15,028 | |||||||||
Assets designated for retirement and pension plans | — | 18,527 | — | 18,527 | |||||||||||||
Warrants and equity securities | — | — | 253 | 253 | |||||||||||||
Acquisition earnout accruals | — | — | (11,760 | ) | (11,760 | ) | |||||||||||
$ | 15,028 | $ | 18,527 | $ | (11,507 | ) | $ | 22,048 | |||||||||
Quoted Prices | Significant | Significant | Total | ||||||||||||||
in Active | Other | Unobservable | |||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
At December 31, 2014 | |||||||||||||||||
U.S. non-qualified deferred compensation plan | $ | 13,709 | $ | — | $ | — | $ | 13,709 | |||||||||
Assets designated for retirement and pension plans | — | 20,880 | — | 20,880 | |||||||||||||
Derivatives designated as cash flow hedge | — | 125 | — | 125 | |||||||||||||
Warrants and equity securities | — | — | 280 | 280 | |||||||||||||
Acquisition earnout accruals | — | — | (12,944 | ) | (12,944 | ) | |||||||||||
$ | 13,709 | $ | 21,005 | $ | (12,664 | ) | $ | 22,050 | |||||||||
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 assets and liabilities for the three months ended March 31, 2015. | ||||||||||||||||
Warrants | Acquisition | Total | |||||||||||||||
and Equity | Earnout | ||||||||||||||||
Securities | Accruals | ||||||||||||||||
Balance at December 31, 2014 | $ | 280 | $ | (12,944 | ) | $ | (12,664 | ) | |||||||||
Realized / unrealized gains | (27 | ) | — | (27 | ) | ||||||||||||
Earnout accretion | — | (298 | ) | (298 | ) | ||||||||||||
Earnout payments | — | 723 | 723 | ||||||||||||||
Foreign currency translation | — | 130 | 130 | ||||||||||||||
Other | — | 629 | 629 | ||||||||||||||
Balance at March 31, 2015 | $ | 253 | $ | (11,760 | ) | $ | (11,507 | ) | |||||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||
Changes in Carrying Amount of Goodwill by Segment | Changes in the carrying amount of goodwill by segment for the three months ended March 31, 2015 are as follows: | ||||||||||||||||||||||||||||
Executive | Executive | Culture | Total | ||||||||||||||||||||||||||
Search and | Search and | Shaping | |||||||||||||||||||||||||||
Leadership | Leadership | ||||||||||||||||||||||||||||
Consulting- | Consulting- | ||||||||||||||||||||||||||||
Americas | Asia Pacific | ||||||||||||||||||||||||||||
Balance at December 31, 2014 | $ | 82,270 | $ | 10,255 | $ | 29,651 | $ | 122,176 | |||||||||||||||||||||
Exchange rate fluctuations | (329 | ) | (431 | ) | (100 | ) | (860 | ) | |||||||||||||||||||||
Balance at March 31, 2015 | $ | 81,941 | $ | 9,824 | $ | 29,551 | $ | 121,316 | |||||||||||||||||||||
Summary of Other Intangible Assets Net by Segment | Other Intangible Assets, net | ||||||||||||||||||||||||||||
The Company’s other intangible assets, net by segment, are as follows: | |||||||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Executive Search and Leadership Consulting | |||||||||||||||||||||||||||||
Americas | $ | 973 | $ | 1,044 | |||||||||||||||||||||||||
Asia Pacific | 321 | 383 | |||||||||||||||||||||||||||
Total Executive Search and Leadership Consulting | 1,294 | 1,427 | |||||||||||||||||||||||||||
Culture Shaping | 18,338 | 19,512 | |||||||||||||||||||||||||||
Total other intangible assets, net | $ | 19,632 | $ | 20,939 | |||||||||||||||||||||||||
Carrying Amount of Amortizable Intangible Assets and Related Accumulated Amortization | The carrying amount of amortizable intangible assets and the related accumulated amortization are as follows: | ||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||
Weighted | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||||||
Average | Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | |||||||||||||||||||||||
Life | Amount | Amount | Amount | Amount | |||||||||||||||||||||||||
(in years) | |||||||||||||||||||||||||||||
Client relationships | 8.7 | $ | 23,133 | $ | (15,527 | ) | $ | 7,606 | $ | 23,316 | $ | (14,999 | ) | $ | 8,317 | ||||||||||||||
Trade name | 15 | 9,259 | (2,609 | ) | 6,650 | 9,334 | (2,358 | ) | 6,976 | ||||||||||||||||||||
Software | 7 | 7,200 | (2,314 | ) | 4,886 | 7,200 | (2,057 | ) | 5,143 | ||||||||||||||||||||
Non-compete | 5 | 586 | (96 | ) | 490 | 593 | (90 | ) | 503 | ||||||||||||||||||||
Total intangible assets | 10.3 | $ | 40,178 | $ | (20,546 | ) | $ | 19,632 | $ | 40,443 | $ | (19,504 | ) | $ | 20,939 | ||||||||||||||
Other_NonCurrent_Liabilities_T
Other Non-Current Liabilities (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Other Liabilities Disclosure [Abstract] | |||||||||
Components of Other Non-Current Liabilities | The components of other non-current liabilities are as follows: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Accrued salaries and employee benefits | $ | 19,969 | $ | 31,605 | |||||
Premise related costs | 14,589 | 15,058 | |||||||
Accrued earnout payments | 807 | 7,567 | |||||||
Other | 765 | 517 | |||||||
Total other non-current liabilities | $ | 36,130 | $ | 54,747 | |||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Summary of Information with Respect to Stock-based Compensation | A summary of information with respect to stock-based compensation is as follows: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Salaries and employee benefits | $ | 1,033 | $ | 336 | |||||
Income tax benefit related to stock-based compensation included in net income | 416 | 145 | |||||||
Restricted Stock Unit Activity | Restricted stock unit activity for the three months ended March 31, 2015: | ||||||||
Number of | Weighted- | ||||||||
Restricted | Average | ||||||||
Stock Units | Grant-date | ||||||||
Fair Value | |||||||||
Outstanding on December 31, 2014 | 462,717 | $ | 18.07 | ||||||
Granted | 167,121 | 23.74 | |||||||
Vested and converted to common stock | (96,546 | ) | 17.92 | ||||||
Forfeited | (6,239 | ) | 20.87 | ||||||
Outstanding on March 31, 2015 | 527,053 | 19.86 | |||||||
Performance Stock Unit Activity | Performance stock unit activity for the three months ended March 31, 2015: | ||||||||
Number of | Weighted- | ||||||||
Restricted | Average | ||||||||
Stock Units | Grant-date | ||||||||
Fair Value | |||||||||
Outstanding on December 31, 2014 | 229,170 | $ | 17.06 | ||||||
Granted | 59,221 | 23.64 | |||||||
Vested and converted to common stock | (13,397 | ) | 20.62 | ||||||
Forfeited | (2,970 | ) | 20.62 | ||||||
Outstanding on March 31, 2015 | 272,024 | 18.28 | |||||||
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income ("AOCI") by Component | The changes in Accumulated other comprehensive income (“AOCI”) by component for the three months ended March 31, 2015 is summarized below: | ||||||||||||||||||||
Cash | Available- | Foreign | Pension | AOCI | |||||||||||||||||
Flow | for-Sale | Currency | |||||||||||||||||||
Hedge | Securities | Translation | |||||||||||||||||||
Balance at December 31, 2014 | $ | 78 | $ | 3,183 | $ | 10,372 | $ | (2,410 | ) | $ | 11,223 | ||||||||||
Other comprehensive income (loss) before reclassification, net of tax | (104 | ) | 284 | (843 | ) | — | (663 | ) | |||||||||||||
Amount reclassified from AOCI (1) | 28 | (47 | ) | — | — | (19 | ) | ||||||||||||||
Net current period other comprehensive income (loss) | (76 | ) | 237 | (843 | ) | — | (682 | ) | |||||||||||||
Balance at March 31, 2015 | $ | 2 | $ | 3,420 | $ | 9,529 | $ | (2,410 | ) | $ | 10,541 | ||||||||||
-1 | Cash Flow Hedge and Available-for-Sale Securities reclassifications from AOCI are included in Interest, net and Other, net, respectively, in the Condensed Consolidated Statement of Comprehensive Income. |
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Segment Reporting [Abstract] | |||||||||
Revenue and Operating Income (Loss), by Segment | The revenue and operating income (loss) by segment are as follows: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Revenue: | |||||||||
Executive Search and Leadership Consulting | |||||||||
Americas | $ | 64,475 | $ | 57,586 | |||||
Europe | 19,658 | 26,224 | |||||||
Asia Pacific | 22,904 | 20,795 | |||||||
Total Executive Search and Leadership Consulting | 107,037 | 104,605 | |||||||
Culture Shaping | 8,116 | 6,516 | |||||||
Revenue before reimbursements (net revenue) | 115,153 | 111,121 | |||||||
Reimbursements | 3,326 | 4,411 | |||||||
Total | $ | 118,479 | $ | 115,532 | |||||
Operating income (loss): | |||||||||
Executive Search and Leadership Consulting | |||||||||
Americas | $ | 13,902 | $ | 11,869 | |||||
Europe | (497 | ) | 640 | ||||||
Asia Pacific | 2,890 | 175 | |||||||
Total Executive Search and Leadership Consulting | 16,295 | 12,684 | |||||||
Culture Shaping | 821 | (530 | ) | ||||||
Total segments | 17,116 | 12,154 | |||||||
Global Operations Support | (10,444 | ) | (11,374 | ) | |||||
Total | $ | 6,672 | $ | 780 | |||||
Allowance_for_Doubtful_Account2
Allowance for Doubtful Accounts - Summary of Allowance for Doubtful Accounts (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Summary Of Allowance For Doubtful Accounts [Abstract] | |
Balance at December 31, 2014 | $3,942 |
Provision charged to income | 447 |
Write-offs | -365 |
Currency | -136 |
Balance at March 31, 2015 | $3,888 |
Property_and_Equipment_Net_Com
Property and Equipment, Net - Components of Company's Property and Equipment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $91,450 | $93,374 |
Accumulated depreciation | -57,102 | -62,957 |
Property and equipment, net | 34,348 | 30,417 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 42,819 | 43,930 |
Office Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 17,402 | 18,693 |
Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $31,229 | $30,751 |
Property_and_Equipment_Net_Add
Property and Equipment, Net - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $2.50 | $2.50 |
Restricted_Cash_Components_of_
Restricted Cash - Components of Restricted Cash (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Current restricted cash | $6,500 | $6,501 |
Non-current restricted cash | 1,305 | 1,411 |
Retention Escrow [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Current restricted cash | 6,500 | 6,501 |
Lease Guarantees [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Non-current restricted cash | 1,209 | 1,316 |
Business Licenses [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Non-current restricted cash | $96 | $95 |
Restricted_Cash_Additional_Inf
Restricted Cash - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Business license agreement maturity period | Extend through 2018 |
Extend termination dates of the leases | Extend through 2018 |
Investments_Components_of_Comp
Investments - Components of Company's Investments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Total | $15,281 | $13,989 |
U.S. Non-Qualified Deferred Compensation Plan [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Total | 15,028 | 13,709 |
Warrants and Equity Securities [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Total | $253 | $280 |
Investments_Additional_Informa
Investments - Additional Information (Detail) (U.S. Non-Qualified Deferred Compensation Plan [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
U.S. Non-Qualified Deferred Compensation Plan [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Aggregate cost basis for investments | $11.20 | $10.10 |
Fair_Value_Measurements_Levels
Fair Value Measurements - Levels of Inputs Used to Measure Fair Value of Assets (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $15,281 | $13,989 |
Acquisition earnout accruals | -11,760 | -12,944 |
Total fair value of assets | 22,048 | 22,050 |
Assets designated for retirement and pension plans | 18,527 | 20,880 |
Derivatives designated as cash flow hedge | 125 | |
U.S. Non-Qualified Deferred Compensation Plan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 15,028 | 13,709 |
Warrants and Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 253 | 280 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total fair value of assets | 15,028 | 13,709 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Non-Qualified Deferred Compensation Plan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 15,028 | 13,709 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total fair value of assets | 18,527 | 21,005 |
Assets designated for retirement and pension plans | 18,527 | 20,880 |
Derivatives designated as cash flow hedge | 125 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Acquisition earnout accruals | -11,760 | -12,944 |
Total fair value of assets | -11,507 | -12,664 |
Significant Unobservable Inputs (Level 3) [Member] | Warrants and Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $253 | $280 |
Fair_Value_Measurements_Reconc
Fair Value Measurements - Reconciliation of Beginning and Ending Balance of Level 3 Assets and Liabilities (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Balance at December 31, 2014 | ($12,664) | |
Balance at March 31, 2015 | -11,507 | -12,664 |
Warrants and Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Balance at December 31, 2014 | 280 | |
Realized / unrealized gains | -27 | |
Balance at March 31, 2015 | 253 | |
Acquisition Earnout Accruals [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Balance at December 31, 2014 | -12,944 | |
Earnout accretion | -298 | |
Earnout payments | 723 | |
Foreign currency translation | 130 | |
Other | 629 | |
Balance at March 31, 2015 | ($11,760) |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||
Mar. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2013 | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | Nov. 30, 2013 | Mar. 31, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2012 | |
USD ($) | Scambler MacGregor [Member] | Scambler MacGregor [Member] | Scambler MacGregor [Member] | Scambler MacGregor [Member] | Scambler MacGregor [Member] | Scambler MacGregor [Member] | Senn Delaney [Member] | Senn Delaney [Member] | Senn Delaney [Member] | Senn Delaney [Member] | Senn Delaney [Member] | |
USD ($) | USD ($) | AUD | USD ($) | AUD | AUD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||
Business Acquisition [Line Items] | ||||||||||||
Acquisition Date | Nov-13 | Dec-12 | ||||||||||
Consideration paid to purchase | $800,000 | $900,000 | 1,100,000 | $53,500,000 | ||||||||
Estimated fair value of future earnout payments associated with acquisition | 2,100,000 | 2,800,000 | ||||||||||
Acquisition earnout payments | 723,000 | 723,000 | ||||||||||
Accrued additional cash consideration | 1,200,000 | 1,500,000 | 2,000,000 | 2,400,000 | 10,600,000 | 10,900,000 | ||||||
Additional payments relates to final working capital settlement | 100,000 | |||||||||||
Identifiable intangible assets | 400,000 | |||||||||||
Goodwill acquired | 2,700,000 | |||||||||||
Percentage of equity of acquired company | 100.00% | |||||||||||
Additional cash consideration | 15,000,000 | 3,400,000 | ||||||||||
Specific earnings milestones achieved period | Period December 2012 through December 2015 | |||||||||||
General and administrative expense of acquisition related costs | 300,000 | 400,000 | ||||||||||
Retention escrow paid | 6,500,000 | |||||||||||
Minimum service period acquired to cover under plan | 3 years | |||||||||||
Compensation expense | $500,000 | $600,000 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Goodwill [Line Items] | |
Beginning Balance | $122,176 |
Exchange rate fluctuations | -860 |
Ending Balance | 121,316 |
Executive Search and Leadership Consulting [Member] | Americas [Member] | |
Goodwill [Line Items] | |
Beginning Balance | 82,270 |
Exchange rate fluctuations | -329 |
Ending Balance | 81,941 |
Executive Search and Leadership Consulting [Member] | Asia Pacific [Member] | |
Goodwill [Line Items] | |
Beginning Balance | 10,255 |
Exchange rate fluctuations | -431 |
Ending Balance | 9,824 |
Culture Shaping [Member] | |
Goodwill [Line Items] | |
Beginning Balance | 29,651 |
Exchange rate fluctuations | -100 |
Ending Balance | $29,551 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Summary of Other Intangible Assets Net by Segment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $19,632 | $20,939 |
Executive Search and Leadership Consulting [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 1,294 | 1,427 |
Executive Search and Leadership Consulting [Member] | Americas [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 973 | 1,044 |
Executive Search and Leadership Consulting [Member] | Asia Pacific [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 321 | 383 |
Culture Shaping [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $18,338 | $19,512 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Carrying Amount of Amortizable Intangible Assets and Related Accumulated Amortization (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 10 years 3 months 18 days | |
Gross Carrying Amount | $40,178 | $40,443 |
Accumulated Amortization | -20,546 | -19,504 |
Net Carrying Amount | 19,632 | 20,939 |
Client Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 8 years 8 months 12 days | |
Gross Carrying Amount | 23,133 | 23,316 |
Accumulated Amortization | -15,527 | -14,999 |
Net Carrying Amount | 7,606 | 8,317 |
Trade Name [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 15 years | |
Gross Carrying Amount | 9,259 | 9,334 |
Accumulated Amortization | -2,609 | -2,358 |
Net Carrying Amount | 6,650 | 6,976 |
Software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 7 years | |
Gross Carrying Amount | 7,200 | 7,200 |
Accumulated Amortization | -2,314 | -2,057 |
Net Carrying Amount | 4,886 | 5,143 |
Non-compete [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Life (in years) | 5 years | |
Gross Carrying Amount | 586 | 593 |
Accumulated Amortization | -96 | -90 |
Net Carrying Amount | $490 | $503 |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Intangible Assets- Additional Information (Detail) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible asset amortization expense, excluding impairment charge | $1.20 | $1.40 |
Estimated Intangible asset amortization expense 2015 | 4.6 | |
Estimated Intangible asset amortization expense 2016 | 4.4 | |
Estimated Intangible asset amortization expense 2017 | 3.5 | |
Estimated Intangible asset amortization expense 2018 | 2.8 | |
Estimated Intangible asset amortization expense 2019 | $2.20 |
Other_NonCurrent_Liabilities_C
Other Non-Current Liabilities - Components of Other Non-Current Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ||
Accrued salaries and employee benefits | $19,969 | $31,605 |
Premise related costs | 14,589 | 15,058 |
Accrued earnout payments | 807 | 7,567 |
Other | 765 | 517 |
Total other non-current liabilities | $36,130 | $54,747 |
Line_of_Credit_and_Term_Loan_A
Line of Credit and Term Loan - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 1 Months Ended | |
Jun. 22, 2011 | Mar. 31, 2015 | Jan. 31, 2013 | Dec. 31, 2014 | |
Line of Credit Facility [Line Items] | ||||
Amortization period of term facility | 5 years | |||
Line of credit facility, frequency of payments | The Term Facility is being repaid over a five-year period pursuant to which the Company will make fifteen quarterly payments of $1.5 million through 2016 and quarterly payments of $2.0 million during 2017. | |||
Borrowing amount under term loan facility | $75,000,000 | |||
Increased aggregate commitment under the facility | 25,000,000 | |||
Facility maturity date | 22-Jun-16 | |||
Term Facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Maximum Amount Outstanding During Period | 40,000,000 | |||
Borrowings made or outstanding under line of credit | 28,000,000 | 29,500,000 | ||
Amount of quarterly payment | 1,500,000 | |||
Quarterly payment of term loan facility in fifth year under Amendment Agreement | 2,000,000 | |||
Interest rate swap | 2.29% | |||
Revolving Credit Facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Borrowings made or outstanding under line of credit | 0 | $0 |
Stockbased_Compensation_Additi
Stock-based Compensation - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended |
In Millions, except Share data, unless otherwise specified | 22-May-14 | Mar. 31, 2015 |
Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Pre-tax unrecognized compensation expense | 6.1 | |
Expected time to be recognized | 2 years 9 months 18 days | |
Performance Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Pre-tax unrecognized compensation expense | 3 | |
Expected time to be recognized | 2 years 2 months 12 days | |
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] | Chief Executive Officer [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Performance stock units vesting period | 2 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% | |
2012 Program [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares authorized or reserved for issuance with respect to awards granted | 1,300,000 | |
Increase in number of shares of Common Stock reserved for issuance | 700,000 | |
Number of stock awards issued under 2012 Program | 999,007 | |
Shares available for future awards | 1,352,679 | |
Number of forfeited awards under 2012 Program | 351,686 | |
Award expiration date | 24-May-22 |
Stockbased_Compensation_Summar
Stock-based Compensation - Summary of Information with Respect to Stock-Based Compensation (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Information With Respect To Stock Based Compensation [Abstract] | ||
Salaries and employee benefits | $1,033 | $336 |
Income tax benefit related to stock-based compensation included in net income | $416 | $145 |
Stockbased_Compensation_Restri
Stock-based Compensation - Restricted Stock Unit Activity (Detail) (Restricted Stock Units [Member], USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Stock Units, Beginning balance | 462,717 |
Number of Stock Units, Granted | 167,121 |
Number of Stock Units, Vested and converted to common stock | -96,546 |
Number of Stock Units, Forfeited | -6,239 |
Number of Stock Units, Ending balance | 527,053 |
Weighted-Average Grant-date Fair Value, Beginning balance | $18.07 |
Weighted-Average Grant-date Fair Value, Granted | $23.74 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock | $17.92 |
Weighted-Average Grant-date Fair Value, Forfeited | $20.87 |
Weighted-Average Grant-date Fair Value, Ending balance | $19.86 |
Stockbased_Compensation_Perfor
Stock-based Compensation - Performance Stock Unit Activity (Detail) (Performance Stock Units [Member], USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Performance Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Stock Units, Beginning balance | 229,170 |
Number of Stock Units, Granted | 59,221 |
Number of Stock Units, Vested and converted to common stock | -13,397 |
Number of Stock Units, Forfeited | -2,970 |
Number of Stock Units, Ending balance | 272,024 |
Weighted-Average Grant-date Fair Value, Beginning balance | $17.06 |
Weighted-Average Grant-date Fair Value, Granted | $23.64 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock | $20.62 |
Weighted-Average Grant-date Fair Value, Forfeited | $20.62 |
Weighted-Average Grant-date Fair Value, Ending balance | $18.28 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Income before income taxes | $6,526,000 | $512,000 |
Provision for income taxes | 3,100,000 | 1,256,000 |
Tax effected losses not benefited for tax | 400,000 | |
Increase in income before taxes | $6,000,000 |
Changes_in_Accumulated_Other_C2
Changes in Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income ("AOCI") by Component (Detail) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at December 31, 2014 | $11,223 | |||
Other comprehensive income (loss) before reclassification, net of tax | -663 | |||
Amount reclassified from AOCI | -19 | [1] | ||
Net current period other comprehensive income (loss) | -682 | 1,097 | ||
Balance at March 31, 2015 | 10,541 | |||
Cash Flow Hedge Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at December 31, 2014 | 78 | |||
Other comprehensive income (loss) before reclassification, net of tax | -104 | |||
Amount reclassified from AOCI | 28 | [1] | ||
Net current period other comprehensive income (loss) | -76 | |||
Balance at March 31, 2015 | 2 | |||
Available-for-Sale Securities Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at December 31, 2014 | 3,183 | |||
Other comprehensive income (loss) before reclassification, net of tax | 284 | |||
Amount reclassified from AOCI | -47 | [1] | ||
Net current period other comprehensive income (loss) | 237 | |||
Balance at March 31, 2015 | 3,420 | |||
Foreign Currency Translation Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at December 31, 2014 | 10,372 | |||
Other comprehensive income (loss) before reclassification, net of tax | -843 | |||
Net current period other comprehensive income (loss) | -843 | |||
Balance at March 31, 2015 | 9,529 | |||
Pension Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance at December 31, 2014 | -2,410 | |||
Balance at March 31, 2015 | ($2,410) | ($2,410) | ||
[1] | Cash Flow Hedge and Available-for-Sale Securities reclassifications from AOCI are included in Interest, net and Other, net, respectively, in the Condensed Consolidated Statement of Comprehensive Income. |
Segment_Information_Revenue_an
Segment Information - Revenue and Operating Income (Loss), by Segment (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenue: | ||
Revenue before reimbursements (net revenue) | $115,153 | $111,121 |
Reimbursements | 3,326 | 4,411 |
Total revenue | 118,479 | 115,532 |
Operating income (loss): | ||
Operating (loss) income | 6,672 | 780 |
Operating Segments [Member] | ||
Operating income (loss): | ||
Operating (loss) income | 17,116 | 12,154 |
Global Operations Support [Member] | ||
Operating income (loss): | ||
Global Operations Support | -10,444 | -11,374 |
Executive Search and Leadership Consulting [Member] | Operating Segments [Member] | ||
Revenue: | ||
Revenue before reimbursements (net revenue) | 107,037 | 104,605 |
Operating income (loss): | ||
Operating (loss) income | 16,295 | 12,684 |
Culture Shaping [Member] | Operating Segments [Member] | ||
Revenue: | ||
Revenue before reimbursements (net revenue) | 8,116 | 6,516 |
Operating income (loss): | ||
Operating (loss) income | 821 | -530 |
Executive Search and Leadership Consulting Americas Segment [Member] | Executive Search and Leadership Consulting [Member] | Operating Segments [Member] | ||
Revenue: | ||
Revenue before reimbursements (net revenue) | 64,475 | 57,586 |
Operating income (loss): | ||
Operating (loss) income | 13,902 | 11,869 |
Executive Search and Leadership Consulting Europe Segment [Member] | Executive Search and Leadership Consulting [Member] | Operating Segments [Member] | ||
Revenue: | ||
Revenue before reimbursements (net revenue) | 19,658 | 26,224 |
Operating income (loss): | ||
Operating (loss) income | -497 | 640 |
Executive Search and Leadership Consulting Asia Pacific Segment [Member] | Executive Search and Leadership Consulting [Member] | Operating Segments [Member] | ||
Revenue: | ||
Revenue before reimbursements (net revenue) | 22,904 | 20,795 |
Operating income (loss): | ||
Operating (loss) income | $2,890 | $175 |
Guarantees_Additional_Informat
Guarantees - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Guarantees [Abstract] | |
Maximum undiscounted payments under outstanding guarantees | $1.90 |
Extend termination dates of the leases | Extend through 2018 |
Commitments_and_Contingencies_
Commitments and Contingencies - Litigation - Additional Information (Detail) | Mar. 31, 2015 | Mar. 31, 2015 |
In Millions, unless otherwise specified | USD ($) | GBP (£) |
Commitments and Contingencies Disclosure [Abstract] | ||
Proposed adjustment to payroll tax liability | $5.80 | £ 3.9 |