FTI Consulting (FCN) 10-Q27 Apr 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	Apr. 20, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-14875
Entity Registrant Name	FTI CONSULTING, INC
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-1261113
Entity Address, Address Line One	555 12th Street NW
Entity Address, City or Town	Washington,
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20004
City Area Code	202
Local Phone Number	312-9100
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	FCN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,979,832
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000887936
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 238,539	$ 491,688
Accounts receivable, net	988,144	896,153
Current portion of notes receivable	27,989	27,292
Prepaid expenses and other current assets	97,733	95,469
Total current assets	1,352,405	1,510,602
Property and equipment, net	163,051	153,466
Operating lease assets	208,894	203,764
Goodwill	1,230,067	1,227,593
Intangible assets, net	22,158	25,514
Notes receivable, net	62,268	55,978
Other assets	62,140	64,490
Total assets	3,100,983	3,241,407
Current liabilities
Accounts payable, accrued expenses and other	177,223	173,953
Accrued compensation	308,762	541,892
Billings in excess of services provided	52,467	53,646
Total current liabilities	538,452	769,491
Long-term debt, net	360,583	315,172
Noncurrent operating lease liabilities	227,066	221,604
Deferred income taxes	158,315	162,374
Other liabilities	95,679	91,045
Total liabilities	1,380,095	1,559,686
Commitments and contingencies (Note 10)
Stockholders’ equity
Preferred stock, $0.01 par value; shares authorized — 5,000; none outstanding	0	0
Common stock, $0.01 par value; shares authorized — 75,000; shares issued and outstanding 33,983 (2023) and 34,026 (2022)	340	340
Additional paid-in capital	0	0
Retained earnings	1,887,420	1,858,103
Accumulated other comprehensive loss	(166,872)	(176,722)
Total stockholders’ equity	1,720,888	1,681,721
Total liabilities and stockholders’ equity	$ 3,100,983	$ 3,241,407

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	33,983,000	34,026,000
Common stock, shares outstanding (in shares)	33,983,000	34,026,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenues	$ 806,706	$ 723,620
Operating expenses
Direct cost of revenues	553,509	493,104
Selling, general and administrative expenses	184,213	148,971
Amortization of intangible assets	2,182	2,268
Costs and expenses	739,904	644,343
Operating income	66,802	79,277
Other income (expense)
Interest income and other	(1,342)	(347)
Interest expense	(2,939)	(2,642)
Other income (expense)	(4,281)	(2,989)
Income before income tax provision	62,521	76,288
Income tax provision	14,974	16,967
Net income	$ 47,547	$ 59,321
Earnings per common share — basic (in dollars per share)	$ 1.43	$ 1.76
Earnings per common share — diluted (in dollars per share)	$ 1.34	$ 1.66
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments, net of tax expense of $0	$ 9,850	$ (6,191)
Total other comprehensive income (loss), net of tax	9,850	(6,191)
Comprehensive income	$ 57,397	$ 53,130

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2021			34,333
Beginning Balance at Dec. 31, 2021	$ 1,583,321	$ (12,053)	$ 343	$ 13,662	$ (34,131)	$ 1,698,156	$ 22,078	$ (128,840)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	59,321					59,321
Other comprehensive income (loss)
Cumulative translation adjustment	(6,191)							(6,191)
Issuance of common stock in connection with:
Exercise of options (in shares)			26
Exercise of options	923			923
Restricted share grants (in shares)			134
Restricted share grants	(7,834)		$ 2	(7,836)
Stock units issued under incentive compensation plan	1,664			1,664
Purchase and retirement of common stock (in shares)			(22)
Purchase and retirement of common stock	(3,098)			(3,098)
Conversion of convertible senior notes due 2023	(2)			(2)
Share-based compensation	5,967			5,967
Reclassification of negative additional paid-in capital	0			22,851		(22,851)
Ending Balance (in shares) at Mar. 31, 2022			34,471
Ending Balance at Mar. 31, 2022	$ 1,622,018		$ 345	0		1,756,704		(135,031)
Beginning Balance (in shares) at Dec. 31, 2022	34,026		34,026
Beginning Balance at Dec. 31, 2022	$ 1,681,721		$ 340	0		1,858,103		(176,722)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,547					47,547
Other comprehensive income (loss)
Cumulative translation adjustment	9,850							9,850
Issuance of common stock in connection with:
Exercise of options (in shares)			14
Exercise of options	449			449
Restricted share grants (in shares)			55
Restricted share grants	(9,513)		$ 1	(9,514)
Stock units issued under incentive compensation plan	2,274			2,274
Purchase and retirement of common stock (in shares)			(112)
Purchase and retirement of common stock	(17,799)		$ (1)	(17,798)
Conversion of convertible senior notes due 2023	(6)			(6)
Share-based compensation	6,365			6,365
Reclassification of negative additional paid-in capital	$ 0			18,230		(18,230)
Ending Balance (in shares) at Mar. 31, 2023	33,983		33,983
Ending Balance at Mar. 31, 2023	$ 1,720,888		$ 340	$ 0		$ 1,887,420		$ (166,872)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Restricted share grants, net settled shares (in shares)	55	54

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities
Net income	$ 47,547	$ 59,321
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	9,443	8,907
Amortization of intangible assets	2,182	2,268
Acquisition-related contingent consideration	1,284	(979)
Provision for expected credit losses	7,012	4,859
Share-based compensation	6,365	5,967
Amortization of debt issuance costs and other	646	527
Deferred income taxes	(3,016)	2,379
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable, billed and unbilled	(93,739)	(66,471)
Notes receivable	(6,851)	1,345
Prepaid expenses and other assets	321	(3,829)
Accounts payable, accrued expenses and other	1,315	3,096
Income taxes	5,658	1,116
Accrued compensation	(230,967)	(216,560)
Billings in excess of services provided	(1,406)	(5,724)
Net cash used in operating activities	(254,206)	(203,778)
Investing activities
Payments for acquisition of businesses, net of cash received	0	(6,698)
Purchases of property and equipment and other	(18,012)	(12,607)
Net cash used in investing activities	(18,012)	(19,305)
Financing activities
Borrowings under revolving line of credit	90,000	155,000
Repayments under revolving line of credit	(45,000)	(140,000)
Purchase and retirement of common stock	(20,982)	(3,098)
Share-based compensation tax withholdings and other	(9,064)	(6,916)
Payments for business acquisition liabilities	(847)	(2,680)
Deposits and other	1,660	1,855
Net cash provided by financing activities	15,767	4,161
Effect of exchange rate changes on cash and cash equivalents	3,302	(4,420)
Net decrease in cash and cash equivalents	(253,149)	(223,342)
Cash and cash equivalents, beginning of period	491,688	494,485
Cash and cash equivalents, end of period	238,539	271,143
Supplemental cash flow disclosures
Cash paid for interest	3,625	3,728
Cash paid for income taxes, net of refunds	12,331	13,471
Non-cash investing and financing activities:
Issuance of stock units under incentive compensation plans	2,274	1,664
Business acquisition liabilities not yet paid	0	5,370
Non-cash additions to property and equipment	$ 213	$ 4,497

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe unaudited condensed consolidated financial statements of FTI Consulting, Inc., including its consolidated subsidiaries (collectively, the “Company,” “we,” “our” or “FTI Consulting”), presented herein, have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and under the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Some of the information and footnote disclosures normally included in annual financial statements have been condensed or omitted pursuant to those rules and regulations. Certain prior period amounts have been reclassified to conform to the current period presentation. In management’s opinion, the interim financial statements reflect all adjustments that are necessary for a fair presentation of the results for the interim periods presented. All adjustments made were normal recurring accruals. Results of operations for the interim periods presented herein are not necessarily indicative of results of operations for a full year. These financial statements should be read in conjunction with the consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Significant Accounting Policies	Significant Accounting PoliciesNote 1 to the Consolidated Financial Statements included in Part II, Item 8, of our Annual Report on Form 10-K for the year ended December 31, 2022 describes the significant accounting policies and methods used in preparation of the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
Earnings per Common Share	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share adjusts basic earnings per common share for the effects of potentially dilutive common shares. Potentially dilutive common shares include the dilutive effects of shares issuable under our equity compensation plans, including stock options and share-based awards (restricted share awards, restricted stock units and performance stock units), each using the treasury stock method. We use the if-converted method for calculating the potential dilutive effect of the conversion feature of the principal amount of our 2.0% convertible senior notes due 2023 (“2023 Convertible Notes”) on earnings per common share. The conversion feature had a dilutive impact on earnings per common share for the three months ended March 31, 2023 and 2022, as the average market price per share of our common stock for the periods exceeded the conversion price of $101.38 per share. See Note 8, “Debt” for additional information about the 2023 Convertible Notes. Three Months Ended March 31, 2023 2022 Numerator — basic and diluted Net income $ 47,547 $ 59,321 Denominator Weighted average number of common shares outstanding — basic 33,301 33,619 Effect of dilutive share-based awards 576 691 Effect of dilutive stock options 305 338 Effect of dilutive convertible notes 1,300 998 Weighted average number of common shares outstanding — diluted 35,482 35,646 Earnings per common share — basic $ 1.43 $ 1.76 Earnings per common share — diluted $ 1.34 $ 1.66 Antidilutive stock options and share-based awards 8 6

Revenues

Revenues	3 Months Ended
Revenues	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues We generate the majority of our revenues by providing consulting services to our clients. Revenues are recognized when we satisfy a performance obligation by transferring services promised in a contract to a customer and in an amount that reflects the consideration that we expect to receive in exchange for those services. Performance obligations in our contracts represent distinct or separate services that we provide to our customers. If, at the outset of an arrangement, we determine that a contract with enforceable rights and obligations does not exist, revenues are deferred until all criteria for an enforceable contract are met. Revenues recognized during the current period may include revenues from performance obligations satisfied or partially satisfied in previous periods. This primarily occurs when the estimated transaction price has changed based on our current probability assessment over whether the agreed-upon outcome for our performance-based and contingent arrangements will be achieved. The aggregate amount of revenues recognized related to a change in the transaction price in the current period, which related to performance obligations satisfied or partially satisfied in a prior period, was $4.8 million and $6.4 million for the three months ended March 31, 2023 and 2022, respectively. Unfulfilled performance obligations primarily consist of fees not yet recognized on certain fixed-fee arrangements and performance-based and contingent arrangements. As of March 31, 2023 and December 31, 2022, the aggregate amount of the remaining contract transaction price allocated to unfulfilled performance obligations was $3.2 million and $3.6 million, respectively. We expect to recognize the majority of the related revenues over the next 12 months. We elected to utilize the optional exemption to exclude from this disclosure fixed-fee and performance-based and contingent arrangements with an original expected duration of one year or less and to exclude our time and expense arrangements for which revenues are recognized using the right-to-invoice practical expedient. Contract assets are defined as assets for which we have recorded revenues but are not yet entitled to receive our fees because certain events, such as completion of the measurement period or client approval, must occur. The contract asset balance was immaterial as of March 31, 2023 and December 31, 2022. Contract liabilities are defined as liabilities incurred when we have received consideration but have not yet performed the agreed-upon services. This may occur when clients pay fees before work begins. The contract liability balance was immaterial as of March 31, 2023 and December 31, 2022.

Accounts Receivable and Allowan

Accounts Receivable and Allowance for Expected Credit Losses	3 Months Ended
	Mar. 31, 2023
Allowance for Doubtful Accounts and Unbilled Services [Abstract]
Accounts Receivable and Allowance for Expected Credit Losses	Accounts Receivable and Allowance for Expected Credit Losses The following table summarizes the components of “Accounts receivable, net” as presented on the Condensed Consolidated Balance Sheets: March 31, December 31, Accounts receivable: Billed receivables $ 728,847 $ 633,055 Unbilled receivables 307,352 308,873 Allowance for expected credit losses (48,055) (45,775) Accounts receivable, net $ 988,144 $ 896,153 The following table summarizes the total provision for expected credit losses and write-offs: Three Months Ended March 31, 2023 2022 Provision for expected credit losses $ 7,012 $ 4,859 Write-offs $ 7,888 $ 2,791 Our provision for expected credit losses includes recoveries, direct write-offs and charges to other accounts. Billed accounts receivables are written off when the potential for recovery is considered remote.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The table below summarizes the changes in the carrying amount of goodwill by reportable segment: Corporate Finance & Restructuring (1) Forensic and Litigation Consulting (1) Economic Consulting (1) Technology (1) Strategic Communications (2) Total Balance at December 31, 2022 $ 516,500 $ 234,872 $ 268,055 $ 96,727 $ 111,439 $ 1,227,593 Foreign currency translation adjustment and other 147 713 194 — 1,420 2,474 Balance at March 31, 2023 $ 516,647 $ 235,585 $ 268,249 $ 96,727 $ 112,859 $ 1,230,067 (1) There were no accumulated impairment losses for the Corporate Finance & Restructuring (“Corporate Finance”), Forensic and Litigation Consulting (“FLC”), Economic Consulting or Technology segments as of March 31, 2023 and December 31, 2022. (2) Amounts for our Strategic Communications segment include gross carrying values of $307.0 million and $305.6 million as of March 31, 2023 and December 31, 2022, respectively, and accumulated impairment losses of $194.1 million as of March 31, 2023 and December 31, 2022. Intangible Assets Intangible assets were as follows: March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Amortizing intangible assets Customer relationships $ 26,827 $ 14,006 $ 12,821 $ 78,223 $ 63,810 $ 14,413 Trademarks 9,570 5,818 3,752 10,950 5,554 5,396 Acquired software and other 833 348 485 846 241 605 37,230 20,172 17,058 90,019 69,605 20,414 Non-amortizing intangible assets Trademarks 5,100 — 5,100 5,100 — 5,100 Total $ 42,330 $ 20,172 $ 22,158 $ 95,119 $ 69,605 $ 25,514 Intangible assets with finite lives are amortized over their estimated useful lives. We recorded amortization expense of $2.2 million and $2.3 million during the three months ended March 31, 2023 and 2022, respectively. We estimate our future amortization expense for our intangible assets with finite lives to be as follows: Year As of March 31, 2023 (1) 2023 (remaining) $ 3,966 2024 3,788 2025 2,955 2026 1,746 2027 1,676 Thereafter 2,927 $ 17,058 (1) Actual amortization expense to be reported in future periods could differ from these estimates as a result of new intangible asset acquisitions, impairments, changes in useful lives, or other relevant factors or changes.

Financial Instruments

Financial Instruments	3 Months Ended
Financial Instruments	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments The following tables present the carrying amounts and estimated fair values of our financial instruments by hierarchy level as of March 31, 2023 and December 31, 2022: March 31, 2023 Hierarchy Level Carrying Level 1 Level 2 Level 3 Liabilities Acquisition-related contingent consideration (1) $ 13,080 $ — $ — $ 13,080 2023 Convertible Notes (2) 315,583 — 616,368 — Total $ 328,663 $ — $ 616,368 $ 13,080 December 31, 2022 Hierarchy Level Carrying Level 1 Level 2 Level 3 Liabilities Acquisition-related contingent consideration (1) $ 14,988 $ — $ — $ 14,988 2023 Convertible Notes (2) 315,172 — 509,682 — Total $ 330,160 $ — $ 509,682 $ 14,988 (1) The short-term portion is included in “Accounts payable, accrued expenses and other” and the long-term portion is included in “Other liabilities” on the Condensed Consolidated Balance Sheets. (2) The carrying amount includes unamortized deferred debt issuance costs. The fair values of financial instruments not included in the tables above are estimated to be equal to their carrying values as of March 31, 2023 and December 31, 2022. We estimate the fair value of our 2023 Convertible Notes based on their last actively traded prices. The fair value of our 2023 Convertible Notes is classified within Level 2 of the fair value hierarchy because it is traded in less active markets. We estimate the fair value of acquisition-related contingent consideration using either a probability-weighted discounted cash flow model or a Monte Carlo pricing model. These fair value estimates represent Level 3 measurements as they are based on significant inputs not observed in the market and reflect our own assumptions. Significant increases (or decreases) in these unobservable inputs in isolation would result in significantly lower (or higher) fair values. We reassess the fair value of our acquisition-related contingent consideration at each reporting period based on additional information as it becomes available. The change in our liability for our Level 3 financial instruments is as follows: Contingent Consideration Balance at December 31, 2022 $ 14,988 Accretion expense (1) $ 1,284 Payments (3,430) Foreign currency translation adjustment (2) 238 Balance at March 31, 2023 $ 13,080 Contingent Consideration Balance at December 31, 2021 $ 15,110 Additions $ 5,370 Accretion expense (1) (979) Payments (4,430) Foreign currency translation adjustment (2) (115) Balance at March 31, 2022 $ 14,956 (1) Accretion expense is included in SG&A expenses on the Condensed Consolidated Statements of Comprehensive Income. (2) Foreign currency translation adjustments are included in “Other comprehensive income (loss), net of tax” on the Condensed Consolidated Statements of Comprehensive Income.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt The table below presents the components of the Company’s debt: March 31, December 31, 2022 2023 Convertible Notes $ 316,211 $ 316,219 Credit Facility 45,000 — Total debt 361,211 316,219 Less: deferred debt issuance costs (628) (1,047) Long-term debt, net (1) $ 360,583 $ 315,172 (1) There were no current portions of long-term debt as of March 31, 2023 and December 31, 2022. The 2023 Convertible Notes due on August 15, 2023 are classified as long-term debt as of March 31, 2023 because we have the ability and intent to refinance them on a long-term basis under our Credit Facility, which matures on November 21, 2027. 2023 Convertible Notes On August 20, 2018, we issued the 2023 Convertible Notes in an aggregate principal amount of $316.3 million. The 2023 Convertible Notes bear interest at a fixed rate of 2.0% per year, payable semiannually in arrears on February 15 and August 15 of each year. The 2023 Convertible Notes will mature on August 15, 2023, unless earlier converted or repurchased. Effective January 1, 2022, pursuant to the terms of the Indenture, upon conversion, the principal amount of the 2023 Convertible Notes being converted is required to be paid in cash and only the premium due upon conversion, if any, is permitted to be settled, at our election, in shares, cash or a combination of shares and cash. The 2023 Convertible Notes are senior unsecured obligations of the Company. The 2023 Convertible Notes are convertible at maturity at a conversion rate of 9.8643 shares of our common stock per $1,000 principal amount of the 2023 Convertible Notes (equivalent to a conversion price of approximately $101.38 per share of common stock). Holders may convert their 2023 Convertible Notes at any time prior to the close of business on the business day immediately preceding May 15, 2023 only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on September 30, 2018 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “Measurement Period”) in which the trading price (as defined in the Indenture) per $1,000 principal amount of the 2023 Convertible Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate in effect on each such trading day; or (3) upon the occurrence of specified corporate events. On or after May 15, 2023, until the close of business on the business day immediately preceding the maturity date of August 15, 2023, holders may convert their 2023 Convertible Notes at any time, regardless of the foregoing circumstances. The 2023 Convertible Notes were convertible in each of the quarters ended September 30, 2021 through March 31, 2023. The number of conversions in each quarter was immaterial. The circumstances required to allow the holders to convert their 2023 Convertible Notes prior to maturity were met as of March 31, 2023 and the 2023 Convertible Notes will become convertible regardless of such circumstances on or after May 15, 2023; therefore, holders may convert their notes at any time beginning on April 1, 2023 through August 14, 2023. Based on the Company’s stock price on March 31, 2023, the if-converted value of the 2023 Convertible Notes exceeded the principal amount by $299.4 million . We may not redeem the 2023 Convertible Notes prior to the maturity date. If we undergo a fundamental change (as defined in the Indenture), subject to certain conditions, holders may require us to repurchase for cash all or part of their 2023 Convertible Notes in principal amounts of $1,000 or a multiple thereof. The fundamental change repurchase price will be equal to 100% of the principal amount of the 2023 Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. In addition, in certain circumstances, we may be required to increase the conversion rate for any 2023 Convertible Notes converted in connection with a make-whole fundamental change (as defined in the Indenture). Contractual interest expense for the 2023 Convertible Notes was $1.6 million for the three months ended March 31, 2023 and 2022. Credit Facility In November 2022, we amended and restated our credit agreement for our senior secured bank revolving credit facility (“Credit Facility”), to, among other things, (i) extend the maturity to November 21, 2027, (ii) increase the revolving line of credit limit from $550.0 million to $900.0 million and (iii) increase the incremental facility from $150.0 million to a maximum of $300.0 million, subject to certain conditions, and incurred an additional $4.0 million of debt issuance costs. The Credit Facility is guaranteed by substantially all of our wholly-owned domestic subsidiaries and is secured by a first priority security interest in substantially all of the assets of FTI Consulting and such domestic subsidiaries. Borrowings under the Credit Facility bear interest at a rate equal to, in the case of: (i) U.S. Dollars (“USD”), at our option, Adjusted Term Secured Overnight Financing Rate (“SOFR”) or Adjusted Daily Simple SOFR, (ii) euro, Euro Interbank Offered Rate, (iii) British pound, Sterling Overnight Index Average Reference Rate, (iv) Australian dollars, Bank Bill Swap Reference Bid Rate, (v) Canadian dollars, Canadian Dollar Offered Rate, (vi) Swiss franc, Swiss Average Rate Overnight and (vii) Japanese yen, Tokyo Interbank Offered Rate, in each case, plus an applicable margin that will fluctuate between 1.25% per annum and 2.00% per annum based upon the Company’s Consolidated Total Net Leverage Ratio (as defined in the Credit Facility) at such time or, in the case of USD borrowings, an alternative base rate plus an applicable margin that will fluctuate between 0.25% per annum and 1.00% per annum based upon the Company’s Consolidated Total Net Leverage Ratio at such time. The alternative base rate is a fluctuating rate per annum equal to the highest of (1) the federal funds rate plus the sum of 50 basis points, (2) the rate of interest in effect for such day as the prime rate announced by Bank of America, and (3) the one-month Term SOFR plus 100 basis points. Under the Credit Facility, we are required to pay a commitment fee rate that fluctuates between 0.20% and 0.35% per annum and a letter of credit fee rate that fluctuates between 1.25% and 2.00% per annum, in each case, based upon the Company’s Consolidated Total Net Leverage Ratio. The Company classified the borrowings under the Credit Facility as long-term debt in the accompanying Condensed Consolidated Balance Sheets, as amounts due under the Credit Facility are not contractually required or expected to be liquidated for more than one year from the applicable balance sheet date. As of March 31, 2023, $0.4 million of the borrowing limit under the Credit Facility was utilized (and, therefore, unavailable) for letters of credit. There were $4.1 million and $4.3 million of unamortized debt issuance costs related to the Credit Facility as of March 31, 2023 and December 31, 2022, respectively. These amounts are included in “Other assets” on our Condensed Consolidated Balance Sheets.

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases [Abstract]
Leases	Leases We lease office space and equipment under non-cancelable operating leases. We recognize operating lease expense on a straight-line basis over the lease term, which may include renewal or termination options that are reasonably certain of exercise. Leases with an initial term of 12 months or less are not recorded on the Condensed Consolidated Balance Sheets and are expensed on a straight-line basis. Most leases include one or more options to renew, with renewal terms that can extend the lease term up to seven years. The exercise of lease renewal options is at our sole discretion. Certain of our lease agreements include rental payments that are adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The table below summarizes the carrying amount of our operating lease assets and liabilities: Leases Classification March 31, 2023 December 31, 2022 Assets Operating lease assets Operating lease assets $ 208,894 $ 203,764 Total lease assets $ 208,894 $ 203,764 Liabilities Current Operating lease liabilities Accounts payable, accrued expenses and other $ 31,585 $ 31,922 Noncurrent Operating lease liabilities Noncurrent operating lease liabilities 227,066 221,604 Total lease liabilities $ 258,651 $ 253,526 The table below summarizes total lease costs: Three Months Ended March 31, Lease Cost 2023 2022 Operating lease costs $ 12,983 $ 12,362 Short-term lease costs 692 405 Variable lease costs 3,111 3,228 Sublease income (319) (266) Total lease cost, net $ 16,467 $ 15,729 The maturity analysis below summarizes the remaining future undiscounted cash flows for our operating leases and includes a reconciliation to operating lease liabilities reported on the Condensed Consolidated Balance Sheets: As of 2023 (remaining) $ 37,490 2024 49,438 2025 42,003 2026 36,907 2027 36,679 Thereafter 127,551 Total future lease payments 330,068 Less: imputed interest (71,417) Total $ 258,651 The table below includes cash paid for our operating lease liabilities, other non-cash information, our weighted average remaining lease term and weighted average discount rate: Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 14,170 $ 11,693 Operating lease assets obtained in exchange for lease liabilities $ 13,105 $ 411 Weighted average remaining lease term (years) Operating leases 8.3 8.7 Weighted average discount rate Operating leases 5.7 % 5.4 %

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesWe are subject to legal actions arising in the ordinary course of business. In management’s opinion, we believe we have adequate legal defenses and/or insurance coverage with respect to the eventuality of such actions. We are not aware of any asserted or unasserted legal proceedings or claims that we believe would have a material adverse effect on our financial condition or results of our operations.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
Share-Based Compensation	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation During the three months ended March 31, 2023, we granted 22,976 restricted share awards, 80,346 restricted stock units and 79,682 performance stock units under the FTI Consulting, Inc. 2017 Omnibus Incentive Compensation Plan, our employee equity compensation plan. Our performance stock units are presented at the maximum potential payout percentage of 150% of target shares granted. These awards are recorded as equity on the Condensed Consolidated Balance Sheets. During the three months ended March 31, 2023, no shares of restricted stock and no stock options were forfeited prior to the completion of the applicable vesting requirements. Additionally, 7,815 performance stock units were forfeited during the three months ended March 31, 2023 as the award targets were not achieved. Total share-based compensation expense, net of forfeitures is detailed in the following table: Three Months Ended March 31, Income Statement Classification 2023 2022 Direct cost of revenues $ 4,699 $ 3,969 Selling, general and administrative expenses 5,044 3,077 Total share-based compensation expense $ 9,743 $ 7,046

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders’ EquityOn June 2, 2016, our Board of Directors authorized a stock repurchase program of up to $100.0 million (the “Repurchase Program”). On each of May 18, 2017, December 1, 2017, February 21, 2019 and February 20, 2020, our Board of Directors authorized an additional $100.0 million. On each of July 28, 2020 and December 3, 2020, our Board of Directors authorized an additional $200.0 million. On December 1, 2022, our Board of Directors authorized an additional $400.0 million, increasing the Repurchase Program to an aggregate authorization of $1.3 billion. No time limit has been established for the completion of the Repurchase Program, and the Repurchase Program may be suspended, discontinued or replaced by the Board of Directors at any time without prior notice. As of March 31, 2023, we had $460.7 million available under the Repurchase Program to repurchase additional shares. The following table details our stock repurchases under the Repurchase Program: Three Months Ended March 31, 2023 2022 Shares of common stock repurchased and retired 112 22 Average price paid per share $ 158.70 $ 143.36 Total cost $ 17,797 $ 3,098 As we repurchase our common shares, we reduce stated capital on our Condensed Consolidated Balance Sheets for the $0.01 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction to additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings. Common stock outstanding was approximately 34.0 million shares as of March 31, 2023 and December 31, 2022. Common stock outstanding includes unvested restricted stock awards, which are considered issued and outstanding under the terms of the restricted stock award agreements.

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We manage our business in five reportable segments: Corporate Finance, FLC, Economic Consulting, Technology and Strategic Communications. Our Corporate Finance segment focuses on the strategic, operational, financial, transactional and capital needs of our clients around the world. Our clients include companies, boards of directors, investors, private equity sponsors, lenders, and other financing sources and creditor groups, as well as other parties-in-interest. We deliver a wide range of services centered around three core offerings: Business Transformation & Strategy, Transactions and Turnaround & Restructuring. Our FLC segment provides law firms, companies, boards of directors, government entities, private equity firms and other interested parties with a multidisciplinary and independent range of services in risk and investigations and disputes, including cybersecurity, and a focus on highly regulated industries such as our Construction & Environmental Solutions and Health Solutions services. These services are supported by our data & analytics technology-enabled solutions, which help our clients analyze large, disparate sets of data related to their business operations and support our clients during regulatory inquiries and commercial disputes. We deliver a wide range of services centered around five core offerings: Construction & Environmental Solutions, Data & Analytics, Disputes, Health Solutions and Risk and Investigations. Our Economic Consulting segment, including subsidiary Compass Lexecon LLC, provides law firms, companies, government entities and other interested parties with analyses of complex economic issues for use in international arbitration, legal and regulatory proceedings, and strategic decision making and public policy debates around the world. We deliver a wide range of services centered around three core offerings: Antitrust & Competition Economics, Financial Economics and International Arbitration. Our Technology segment provides companies, law firms, private equity firms and government entities with a comprehensive global portfolio of digital insights and risk management consulting services. Our professionals help organizations better address risk as the growing volume and variety of enterprise data intersects with legal, regulatory and compliance needs. We deliver a wide range of expert solutions driven by investigations, litigation, mergers & acquisitions, antitrust and competition, and compliance and risk through three core offerings: Corporate Legal Department Consulting, E-discovery Services and Expertise, and Information Governance, Privacy & Security services. Our Strategic Communications segment develops and executes communications strategies to help management teams, boards of directors, law firms, governments and regulators manage change and mitigate risk surrounding transformational and disruptive events, including transactions, investigations, disputes, crises, regulation and legislation. We deliver a wide range of services centered around three core offerings: Corporate Reputation, Financial Communications and Public Affairs. We evaluate the performance of our operating segments based on Adjusted Segment EBITDA, a GAAP financial measure. We define Adjusted Segment EBITDA as a segment’s share of consolidated operating income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash. The table below presents revenues and Adjusted Segment EBITDA for our reportable segments: Three Months Ended March 31, 2023 2022 Revenues Corporate Finance $ 299,987 $ 253,329 FLC 173,404 153,896 Economic Consulting 169,595 165,977 Technology 90,618 80,484 Strategic Communications 73,102 69,934 Total revenues $ 806,706 $ 723,620 Adjusted Segment EBITDA Corporate Finance $ 55,020 $ 53,539 FLC 18,611 17,257 Economic Consulting 14,193 21,195 Technology 15,366 13,363 Strategic Communications 9,556 15,713 Total Adjusted Segment EBITDA $ 112,746 $ 121,067 The table below reconciles net income to Total Adjusted Segment EBITDA: Three Months Ended March 31, 2023 2022 Net income $ 47,547 $ 59,321 Add back: Income tax provision 14,974 16,967 Interest income and other 1,342 347 Interest expense 2,939 2,642 Unallocated corporate expenses 34,735 31,338 Segment depreciation expense 9,027 8,184 Amortization of intangible assets 2,182 2,268 Total Adjusted Segment EBITDA $ 112,746 $ 121,067

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Basis of Presentation	The unaudited condensed consolidated financial statements of FTI Consulting, Inc., including its consolidated subsidiaries (collectively, the “Company,” “we,” “our” or “FTI Consulting”), presented herein, have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and under the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information. Some of the information and footnote disclosures normally included in annual financial statements have been condensed or omitted pursuant to those rules and regulations. Certain prior period amounts have been reclassified to conform to the current period presentation. In management’s opinion, the interim financial statements reflect all adjustments that are necessary for a fair presentation of the results for the interim periods presented. All adjustments made were normal recurring accruals. Results of operations for the interim periods presented herein are not necessarily indicative of results of operations for a full year. These financial statements should be read in conjunction with the consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
Earnings per Common Share (Tables)	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	Three Months Ended March 31, 2023 2022 Numerator — basic and diluted Net income $ 47,547 $ 59,321 Denominator Weighted average number of common shares outstanding — basic 33,301 33,619 Effect of dilutive share-based awards 576 691 Effect of dilutive stock options 305 338 Effect of dilutive convertible notes 1,300 998 Weighted average number of common shares outstanding — diluted 35,482 35,646 Earnings per common share — basic $ 1.43 $ 1.76 Earnings per common share — diluted $ 1.34 $ 1.66 Antidilutive stock options and share-based awards 8 6

Accounts Receivable and Allow_2

Accounts Receivable and Allowance for Expected Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2023
Allowance for Doubtful Accounts and Unbilled Services [Abstract]
Schedule of Accounts Receivable	The following table summarizes the components of “Accounts receivable, net” as presented on the Condensed Consolidated Balance Sheets: March 31, December 31, Accounts receivable: Billed receivables $ 728,847 $ 633,055 Unbilled receivables 307,352 308,873 Allowance for expected credit losses (48,055) (45,775) Accounts receivable, net $ 988,144 $ 896,153
Schedule of Accounts Receivable, Writeoff	The following table summarizes the total provision for expected credit losses and write-offs: Three Months Ended March 31, 2023 2022 Provision for expected credit losses $ 7,012 $ 4,859 Write-offs $ 7,888 $ 2,791

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amounts of Goodwill by Operating Segment	The table below summarizes the changes in the carrying amount of goodwill by reportable segment: Corporate Finance & Restructuring (1) Forensic and Litigation Consulting (1) Economic Consulting (1) Technology (1) Strategic Communications (2) Total Balance at December 31, 2022 $ 516,500 $ 234,872 $ 268,055 $ 96,727 $ 111,439 $ 1,227,593 Foreign currency translation adjustment and other 147 713 194 — 1,420 2,474 Balance at March 31, 2023 $ 516,647 $ 235,585 $ 268,249 $ 96,727 $ 112,859 $ 1,230,067 (1) There were no accumulated impairment losses for the Corporate Finance & Restructuring (“Corporate Finance”), Forensic and Litigation Consulting (“FLC”), Economic Consulting or Technology segments as of March 31, 2023 and December 31, 2022. (2) Amounts for our Strategic Communications segment include gross carrying values of $307.0 million and $305.6 million as of March 31, 2023 and December 31, 2022, respectively, and accumulated impairment losses of $194.1 million as of March 31, 2023 and December 31, 2022.
Schedule of Other Intangible Assets Amortized Intangibles	Intangible assets were as follows: March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Amortizing intangible assets Customer relationships $ 26,827 $ 14,006 $ 12,821 $ 78,223 $ 63,810 $ 14,413 Trademarks 9,570 5,818 3,752 10,950 5,554 5,396 Acquired software and other 833 348 485 846 241 605 37,230 20,172 17,058 90,019 69,605 20,414 Non-amortizing intangible assets Trademarks 5,100 — 5,100 5,100 — 5,100 Total $ 42,330 $ 20,172 $ 22,158 $ 95,119 $ 69,605 $ 25,514
Schedule of Other Intangible Assets Unamortized Intangibles	Intangible assets were as follows: March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Amortizing intangible assets Customer relationships $ 26,827 $ 14,006 $ 12,821 $ 78,223 $ 63,810 $ 14,413 Trademarks 9,570 5,818 3,752 10,950 5,554 5,396 Acquired software and other 833 348 485 846 241 605 37,230 20,172 17,058 90,019 69,605 20,414 Non-amortizing intangible assets Trademarks 5,100 — 5,100 5,100 — 5,100 Total $ 42,330 $ 20,172 $ 22,158 $ 95,119 $ 69,605 $ 25,514
Schedule of Future Amortization Expense Intangible Assets	We estimate our future amortization expense for our intangible assets with finite lives to be as follows: Year As of March 31, 2023 (1) 2023 (remaining) $ 3,966 2024 3,788 2025 2,955 2026 1,746 2027 1,676 Thereafter 2,927 $ 17,058 (1) Actual amortization expense to be reported in future periods could differ from these estimates as a result of new intangible asset acquisitions, impairments, changes in useful lives, or other relevant factors or changes.

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
Financial Instruments (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Carrying and Estimated Fair Value of Other Financial Instruments	The following tables present the carrying amounts and estimated fair values of our financial instruments by hierarchy level as of March 31, 2023 and December 31, 2022: March 31, 2023 Hierarchy Level Carrying Level 1 Level 2 Level 3 Liabilities Acquisition-related contingent consideration (1) $ 13,080 $ — $ — $ 13,080 2023 Convertible Notes (2) 315,583 — 616,368 — Total $ 328,663 $ — $ 616,368 $ 13,080 December 31, 2022 Hierarchy Level Carrying Level 1 Level 2 Level 3 Liabilities Acquisition-related contingent consideration (1) $ 14,988 $ — $ — $ 14,988 2023 Convertible Notes (2) 315,172 — 509,682 — Total $ 330,160 $ — $ 509,682 $ 14,988 (1) The short-term portion is included in “Accounts payable, accrued expenses and other” and the long-term portion is included in “Other liabilities” on the Condensed Consolidated Balance Sheets. (2) The carrying amount includes unamortized deferred debt issuance costs.
Schedule of Change in Liability for our Level 3 Financial Instruments	The change in our liability for our Level 3 financial instruments is as follows: Contingent Consideration Balance at December 31, 2022 $ 14,988 Accretion expense (1) $ 1,284 Payments (3,430) Foreign currency translation adjustment (2) 238 Balance at March 31, 2023 $ 13,080 Contingent Consideration Balance at December 31, 2021 $ 15,110 Additions $ 5,370 Accretion expense (1) (979) Payments (4,430) Foreign currency translation adjustment (2) (115) Balance at March 31, 2022 $ 14,956 (1) Accretion expense is included in SG&A expenses on the Condensed Consolidated Statements of Comprehensive Income. (2) Foreign currency translation adjustments are included in “Other comprehensive income (loss), net of tax” on the Condensed Consolidated Statements of Comprehensive Income.

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Summary of Components of Debt Obligations	The table below presents the components of the Company’s debt: March 31, December 31, 2022 2023 Convertible Notes $ 316,211 $ 316,219 Credit Facility 45,000 — Total debt 361,211 316,219 Less: deferred debt issuance costs (628) (1,047) Long-term debt, net (1) $ 360,583 $ 315,172 (1) There were no current portions of long-term debt as of March 31, 2023 and December 31, 2022. The 2023 Convertible Notes due on August 15, 2023 are classified as long-term debt as of March 31, 2023 because we have the ability and intent to refinance them on a long-term basis under our Credit Facility, which matures on November 21, 2027.

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases [Abstract]
Schedule of Carrying Amount of Operating Lease Assets and Liabilities	The table below summarizes the carrying amount of our operating lease assets and liabilities: Leases Classification March 31, 2023 December 31, 2022 Assets Operating lease assets Operating lease assets $ 208,894 $ 203,764 Total lease assets $ 208,894 $ 203,764 Liabilities Current Operating lease liabilities Accounts payable, accrued expenses and other $ 31,585 $ 31,922 Noncurrent Operating lease liabilities Noncurrent operating lease liabilities 227,066 221,604 Total lease liabilities $ 258,651 $ 253,526
Schedule of Lease Cost	The table below summarizes total lease costs: Three Months Ended March 31, Lease Cost 2023 2022 Operating lease costs $ 12,983 $ 12,362 Short-term lease costs 692 405 Variable lease costs 3,111 3,228 Sublease income (319) (266) Total lease cost, net $ 16,467 $ 15,729 The table below includes cash paid for our operating lease liabilities, other non-cash information, our weighted average remaining lease term and weighted average discount rate: Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 14,170 $ 11,693 Operating lease assets obtained in exchange for lease liabilities $ 13,105 $ 411 Weighted average remaining lease term (years) Operating leases 8.3 8.7 Weighted average discount rate Operating leases 5.7 % 5.4 %
Schedule of Future Minimum Lease Payments	The maturity analysis below summarizes the remaining future undiscounted cash flows for our operating leases and includes a reconciliation to operating lease liabilities reported on the Condensed Consolidated Balance Sheets: As of 2023 (remaining) $ 37,490 2024 49,438 2025 42,003 2026 36,907 2027 36,679 Thereafter 127,551 Total future lease payments 330,068 Less: imputed interest (71,417) Total $ 258,651

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
Share-Based Compensation (Tables)	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation Expense	Total share-based compensation expense, net of forfeitures is detailed in the following table: Three Months Ended March 31, Income Statement Classification 2023 2022 Direct cost of revenues $ 4,699 $ 3,969 Selling, general and administrative expenses 5,044 3,077 Total share-based compensation expense $ 9,743 $ 7,046

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Mar. 31, 2023
Equity [Abstract]
Schedule of Stock Repurchases	The following table details our stock repurchases under the Repurchase Program: Three Months Ended March 31, 2023 2022 Shares of common stock repurchased and retired 112 22 Average price paid per share $ 158.70 $ 143.36 Total cost $ 17,797 $ 3,098

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Revenues and Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization for Reportable Segments	The table below presents revenues and Adjusted Segment EBITDA for our reportable segments: Three Months Ended March 31, 2023 2022 Revenues Corporate Finance $ 299,987 $ 253,329 FLC 173,404 153,896 Economic Consulting 169,595 165,977 Technology 90,618 80,484 Strategic Communications 73,102 69,934 Total revenues $ 806,706 $ 723,620 Adjusted Segment EBITDA Corporate Finance $ 55,020 $ 53,539 FLC 18,611 17,257 Economic Consulting 14,193 21,195 Technology 15,366 13,363 Strategic Communications 9,556 15,713 Total Adjusted Segment EBITDA $ 112,746 $ 121,067
Reconciliation of Net Income to Adjusted Segment Earnings Before Interest, Taxes, Depreciation and Amortization	The table below reconciles net income to Total Adjusted Segment EBITDA: Three Months Ended March 31, 2023 2022 Net income $ 47,547 $ 59,321 Add back: Income tax provision 14,974 16,967 Interest income and other 1,342 347 Interest expense 2,939 2,642 Unallocated corporate expenses 34,735 31,338 Segment depreciation expense 9,027 8,184 Amortization of intangible assets 2,182 2,268 Total Adjusted Segment EBITDA $ 112,746 $ 121,067

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Aug. 20, 2018
Earnings Per Common Share [Line Items]
Conversion price (in dollars per share)	$ 101.38	$ 101.38
Numerator — basic and diluted
Net income	$ 47,547	$ 59,321
Net income	$ 47,547	$ 59,321
Denominator
Weighted average number of common shares outstanding — basic (in shares)	33,301	33,619
Effect of dilutive share-based awards (in shares)	576	691
Effect of dilutive stock options (in shares)	305	338
Effect of dilutive convertible notes (in shares)	1,300	998
Weighted average number of common shares outstanding — diluted (in shares)	35,482	35,646
Earnings per common share — basic (in dollars per share)	$ 1.43	$ 1.76
Earnings per common share — diluted (in dollars per share)	$ 1.34	$ 1.66
Stock Options And Share-Based Awards
Denominator
Antidilutive stock options and share-based awards (in shares)	8	6
2023 Convertible Notes \| Senior Notes
Earnings Per Common Share [Line Items]
Interest rate (as a percent)	2%		2%
Conversion price (in dollars per share)			$ 101.38

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
Revenues (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Performance obligations satisfied or partially satisfied in previous periods	$ 4.8	$ 6.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Unfulfilled performance obligations			$ 3.6
Performance obligation expected duration			12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Disaggregation of Revenue [Line Items]
Unfulfilled performance obligations	$ 3.2
Performance obligation expected duration	12 months

Accounts Receivable and Allow_3

Accounts Receivable and Allowance for Expected Credit Losses - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts receivable:
Billed receivables	$ 728,847	$ 633,055
Unbilled receivables	307,352	308,873
Allowance for expected credit losses	(48,055)	(45,775)
Accounts receivable, net	$ 988,144	$ 896,153

Accounts Receivable and Allow_4

Accounts Receivable and Allowance for Expected Credit Losses - Writeoff (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allowance for Doubtful Accounts and Unbilled Services [Abstract]
Provision for expected credit losses	$ 7,012	$ 4,859
Write-offs	$ 7,888	$ 2,791

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill beginning of period	$ 1,227,593,000
Foreign currency translation adjustment and other	2,474,000
Goodwill end of period	1,230,067,000
Corporate Finance & Restructuring
Goodwill [Roll Forward]
Goodwill beginning of period	516,500,000
Foreign currency translation adjustment and other	147,000
Goodwill end of period	516,647,000
Accumulated impairment loss	0	$ 0
Forensic and Litigation Consulting
Goodwill [Roll Forward]
Goodwill beginning of period	234,872,000
Foreign currency translation adjustment and other	713,000
Goodwill end of period	235,585,000
Accumulated impairment loss	0	0
Economic Consulting
Goodwill [Roll Forward]
Goodwill beginning of period	268,055,000
Foreign currency translation adjustment and other	194,000
Goodwill end of period	268,249,000
Accumulated impairment loss	0	0
Technology
Goodwill [Roll Forward]
Goodwill beginning of period	96,727,000
Foreign currency translation adjustment and other	0
Goodwill end of period	96,727,000
Accumulated impairment loss	0	0
Strategic Communications
Goodwill [Roll Forward]
Goodwill beginning of period	111,439,000
Foreign currency translation adjustment and other	1,420,000
Goodwill end of period	112,859,000
Accumulated impairment loss	194,100,000	194,100,000
Goodwill	$ 307,000,000	$ 305,600,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 37,230	$ 90,019
Accumulated Amortization	20,172	69,605
Net Carrying Amount	17,058	20,414
Intangible assets, gross carrying amount	42,330	95,119
Intangible assets, Net Carrying Amount	22,158	25,514
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount, non-amortizing intangible assets	5,100	5,100
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	26,827	78,223
Accumulated Amortization	14,006	63,810
Net Carrying Amount	12,821	14,413
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,570	10,950
Accumulated Amortization	5,818	5,554
Net Carrying Amount	3,752	5,396
Acquired software and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	833	846
Accumulated Amortization	348	241
Net Carrying Amount	$ 485	$ 605

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangible assets	$ 2,182	$ 2,268

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining)	$ 3,966
2024	3,788
2025	2,955
2026	1,746
2027	1,676
Thereafter	2,927
Net Carrying Amount	$ 17,058	$ 20,414

Financial Instruments - Carryin

Financial Instruments - Carrying And Estimated Fair Value Of Other Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Acquisition-related contingent consideration	$ 13,080	$ 14,988
2023 Convertible Notes	315,583	315,172
Total	328,663	330,160
Estimate of Fair Value Measurement \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Acquisition-related contingent consideration	0	0
2023 Convertible Notes	0	0
Total	0	0
Estimate of Fair Value Measurement \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Acquisition-related contingent consideration	0	0
2023 Convertible Notes	616,368	509,682
Total	616,368	509,682
Estimate of Fair Value Measurement \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Acquisition-related contingent consideration	13,080	14,988
2023 Convertible Notes	0	0
Total	$ 13,080	$ 14,988

Financial Instruments - Fair Va

Financial Instruments - Fair Value Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ 14,988	$ 15,110
Additions		5,370
Accretion expense	1,284	(979)
Payments	(3,430)	(4,430)
Foreign currency translation adjustment	238	(115)
Ending balance	$ 13,080	$ 14,956

Debt - Summary of Components of

Debt - Summary of Components of Debt Obligations (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 361,211,000	$ 316,219,000
Less: deferred debt issuance costs	(628,000)	(1,047,000)
Long-term debt, net	360,583,000	315,172,000
Current portion of long-term debt, net	0	0
2023 Convertible Notes
Debt Instrument [Line Items]
Total debt	316,211,000	316,219,000
Credit Facility
Debt Instrument [Line Items]
Total debt	$ 45,000,000	$ 0

Debt - Additional Information (

Debt - Additional Information (Details)		1 Months Ended	3 Months Ended
Debt - Additional Information (Details)	Aug. 20, 2018 USD ($) $ / shares	Nov. 30, 2018	Mar. 31, 2023 USD ($) business_day trading_day $ / shares	Mar. 31, 2022 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Nov. 21, 2022 USD ($)	Nov. 20, 2022 USD ($)	Jun. 26, 2015 USD ($)
Debt Instrument [Line Items]
Conversion price (in dollars per share) \| $ / shares			$ 101.38	$ 101.38
Unamortized debt issuance costs			$ 628,000		$ 1,047,000
Federal Funds
Debt Instrument [Line Items]
Credit facility basis point (as a percent)		0.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Credit facility basis point (as a percent)		1%
2023 Convertible Notes
Debt Instrument [Line Items]
Exceeded principal amount			$ 299,400,000
Fundamental change repurchase price percent (as a percent)	100%
2023 Convertible Notes \| Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 316,300,000
Interest rate (as a percent)	2%		2%
Conversion rate	0.0098643
Conversion price (in dollars per share) \| $ / shares	$ 101.38
Contractual interest expense			$ 1,600,000	$ 1,600,000
2023 Convertible Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days \| trading_day			20
Consecutive trading days \| trading_day			30
Redemption price percentage			130%
2023 Convertible Notes \| Senior Notes \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Consecutive trading days \| trading_day			5
Redemption price percentage			98%
Debt instrument business days \| business_day			5
Convertible Note Due 2023, Par Value
Debt Instrument [Line Items]
Principal amount	$ 1,000
Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Senior secured revolving line of credit			$ 900,000,000			$ 300,000,000	$ 150,000,000	$ 550,000,000
Debt issuance costs								$ 4,000,000
Borrowing limit used			400,000
Unamortized debt issuance costs			$ 4,100,000		$ 4,300,000
Credit Facility \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Commitment fee (as a percent)			0.20%
Fronting fees (as a percent)			1.25%
Credit Facility \| Line of Credit \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)		1.25%
Credit Facility \| Line of Credit \| Minimum \| Base Rate
Debt Instrument [Line Items]
Basis spread (as a percent)		0.25%
Credit Facility \| Line of Credit \| Maximum
Debt Instrument [Line Items]
Commitment fee (as a percent)			0.35%
Fronting fees (as a percent)			2%
Credit Facility \| Line of Credit \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread (as a percent)		2%
Credit Facility \| Line of Credit \| Maximum \| Base Rate
Debt Instrument [Line Items]
Basis spread (as a percent)		1%

Leases - Additional Information

Leases - Additional Information (Details)	3 Months Ended
Leases - Additional Information (Details)	Mar. 31, 2023 lease_option
Lessee, Lease, Description [Line Items]
Number of renewal options	1
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	7 years

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease assets	$ 208,894	$ 203,764
Current operating lease liabilities	31,585	31,922
Noncurrent operating lease liabilities	227,066	221,604
Total lease liabilities	$ 258,651	$ 253,526
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accounts payable, accrued expenses and other	Accounts payable, accrued expenses and other

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Lease Cost
Operating lease costs	$ 12,983	$ 12,362
Short-term lease costs	692	405
Variable lease costs	3,111	3,228
Sublease income	(319)	(266)
Total lease cost, net	$ 16,467	$ 15,729

Leases - Maturity Analysis (Det

Leases - Maturity Analysis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (remaining)	$ 37,490
2024	49,438
2025	42,003
2026	36,907
2027	36,679
Thereafter	127,551
Total future lease payments	330,068
Less: imputed interest	(71,417)
Total lease liabilities	$ 258,651	$ 253,526

Leases - Cash Paid For Operatin

Leases - Cash Paid For Operating Leases and Noncash Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 14,170	$ 11,693
Operating lease assets obtained in exchange for lease liabilities	$ 13,105	$ 411
Weighted average remaining lease term (years), Operating leases	8 years 3 months 18 days	8 years 8 months 12 days
Weighted average discount rate, Operating leases	5.70%	5.40%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details)	3 Months Ended
Share-Based Compensation - Additional Information (Details)	Mar. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option forfeited (in shares)	0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	22,976
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	80,346
Performance-based Restricted Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	79,682
Award vesting rights, percentage	150%
Forfeited in period (in shares)	7,815

Share-Based Compensation - Sche

Share-Based Compensation - Schedule Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 9,743	$ 7,046
Direct cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	4,699	3,969
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 5,044	$ 3,077

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands	Mar. 31, 2023	Dec. 31, 2022	Dec. 01, 2022	Dec. 03, 2020	Jul. 28, 2020	Feb. 20, 2020	Feb. 21, 2019	Dec. 01, 2017	May 18, 2017	Jun. 02, 2016
Equity, Class of Treasury Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares outstanding (in shares)	33,983	34,026
2016 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program authorized amount			$ 1,300,000,000							$ 100,000,000
Stock repurchase program additional amount authorized			$ 400,000,000	$ 200,000,000	$ 200,000,000	$ 100,000,000	$ 100,000,000	$ 100,000,000	$ 100,000,000
Available amount under repurchase program	$ 460,700,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Repurchases (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stockholders Equity [Line Items]
Total cost	$ 17,799	$ 3,098
2016 Stock Repurchase Program
Stockholders Equity [Line Items]
Shares of common stock repurchased and retired (in shares)	112	22
Average price paid per share (in dollars per share)	$ 158.70	$ 143.36
Total cost	$ 17,797	$ 3,098

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
Segment Reporting - Additional Information (Details)	Mar. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	5

Segment Reporting - Revenues an

Segment Reporting - Revenues and Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenues	$ 806,706	$ 723,620
Adjusted Segment EBITDA	112,746	121,067
Corporate Finance
Segment Reporting Information [Line Items]
Revenues	299,987	253,329
Adjusted Segment EBITDA	55,020	53,539
FLC
Segment Reporting Information [Line Items]
Revenues	173,404	153,896
Adjusted Segment EBITDA	18,611	17,257
Economic Consulting
Segment Reporting Information [Line Items]
Revenues	169,595	165,977
Adjusted Segment EBITDA	14,193	21,195
Technology
Segment Reporting Information [Line Items]
Revenues	90,618	80,484
Adjusted Segment EBITDA	15,366	13,363
Strategic Communications
Segment Reporting Information [Line Items]
Revenues	73,102	69,934
Adjusted Segment EBITDA	$ 9,556	$ 15,713

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Net Income To Adjusted Segment Earnings before Interest, Taxes, Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net income	$ 47,547	$ 59,321
Income tax provision	14,974	16,967
Interest income and other	1,342	347
Interest expense	2,939	2,642
Total Adjusted Segment EBITDA	112,746	121,067
Segment Reconciling Items
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net income	47,547	59,321
Income tax provision	14,974	16,967
Interest income and other	1,342	347
Interest expense	2,939	2,642
Unallocated corporate expenses	34,735	31,338
Segment depreciation expense	9,027	8,184
Amortization of intangible assets	2,182	2,268
Total Adjusted Segment EBITDA	$ 112,746	$ 121,067