FTI Consulting (FCN) 10-Q25 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 18, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		35,902,232
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000887936
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 226,428	$ 303,222
Accounts receivable, net	1,190,521	1,102,142
Current portion of notes receivable	45,145	30,997
Prepaid expenses and other current assets	107,117	119,092
Total current assets	1,569,211	1,555,453
Property and equipment, net	152,307	159,662
Operating lease assets	202,511	208,910
Goodwill	1,230,932	1,234,569
Intangible assets, net	18,377	18,285
Notes receivable, net	106,201	75,431
Other assets	78,105	73,568
Total assets	3,357,644	3,325,878
Current liabilities
Accounts payable, accrued expenses and other	182,667	223,758
Accrued compensation	463,669	601,074
Billings in excess of services provided	67,558	67,937
Total current liabilities	713,894	892,769
Long-term debt	60,000	0
Noncurrent operating lease liabilities	214,517	223,774
Deferred income taxes	136,374	140,976
Other liabilities	83,479	86,939
Total liabilities	1,208,264	1,344,458
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 35,902 (2024) and 35,521 (2023)	359	355
Additional paid-in capital	33,955	16,760
Retained earnings	2,278,677	2,114,765
Accumulated other comprehensive loss	(163,611)	(150,460)
Total stockholders’ equity	2,149,380	1,981,420
Total liabilities and stockholders’ equity	$ 3,357,644	$ 3,325,878

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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)	35,902,000	35,521,000
Common stock, shares outstanding (in shares)	35,902,000	35,521,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 949,156	$ 864,591	$ 1,877,709	$ 1,671,297
Operating expenses
Direct cost of revenues	637,749	588,094	1,263,783	1,141,603
Selling, general and administrative expenses	206,235	186,371	408,105	370,584
Amortization of intangible assets	1,080	1,417	2,096	3,599
Costs and expenses	845,064	775,882	1,673,984	1,515,786
Operating income	104,092	88,709	203,725	155,511
Other income (expense)
Interest income and other	1,909	(584)	3,490	(1,926)
Interest expense	(3,319)	(3,022)	(5,038)	(5,961)
Other income (expense)	(1,410)	(3,606)	(1,548)	(7,887)
Income before income tax provision	102,682	85,103	202,177	147,624
Income tax provision	18,735	22,708	38,265	37,682
Net income	$ 83,947	$ 62,395	$ 163,912	$ 109,942
Earnings per common share — basic (in dollars per share)	$ 2.38	$ 1.87	$ 4.67	$ 3.30
Earnings per common share — diluted (in dollars per share)	$ 2.34	$ 1.75	$ 4.58	$ 3.09
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments, net of tax expense of $0	$ (1,718)	$ 6,396	$ (13,151)	$ 16,246
Total other comprehensive income (loss), net of tax	(1,718)	6,396	(13,151)	16,246
Comprehensive income	$ 82,229	$ 68,791	$ 150,761	$ 126,188

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Foreign currency translation adjustments, tax expense	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2022		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, less net settled shares (in shares)		55
Restricted share grants, less net settled shares	(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
Ending Balance at Mar. 31, 2023	1,720,888	$ 340	0	1,887,420	(166,872)
Beginning Balance (in shares) at Dec. 31, 2022		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	109,942
Issuance of common stock in connection with:
Stock units issued under incentive compensation plan	2,274
Ending Balance (in shares) at Jun. 30, 2023		34,034
Ending Balance at Jun. 30, 2023	1,795,152	$ 340	5,473	1,949,815	(160,476)
Beginning Balance (in shares) at Mar. 31, 2023		33,983
Beginning Balance at Mar. 31, 2023	1,720,888	$ 340	0	1,887,420	(166,872)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	62,395			62,395
Other comprehensive income (loss):
Cumulative translation adjustment	6,396				6,396
Issuance of common stock in connection with:
Exercise of options (in shares)		21
Exercise of options	718		718
Restricted share grants, less net settled shares (in shares)		30
Restricted share grants, less net settled shares	(2,408)		(2,408)
Conversion of convertible senior notes due 2023	(375)		(375)
Share-based compensation	7,538		7,538
Ending Balance (in shares) at Jun. 30, 2023		34,034
Ending Balance at Jun. 30, 2023	$ 1,795,152	$ 340	5,473	1,949,815	(160,476)
Beginning Balance (in shares) at Dec. 31, 2023	35,521	35,521
Beginning Balance at Dec. 31, 2023	$ 1,981,420	$ 355	16,760	2,114,765	(150,460)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	79,965			79,965
Other comprehensive income (loss):
Cumulative translation adjustment	(11,433)				(11,433)
Issuance of common stock in connection with:
Exercise of options (in shares)		106
Exercise of options	3,898	$ 1	3,897
Restricted share grants, less net settled shares (in shares)		70
Restricted share grants, less net settled shares	(11,111)	$ 1	(11,112)
Stock units issued under incentive compensation plan	2,805		2,805
Share-based compensation	8,812		8,812
Ending Balance (in shares) at Mar. 31, 2024		35,697
Ending Balance at Mar. 31, 2024	$ 2,054,356	$ 357	21,162	2,194,730	(161,893)
Beginning Balance (in shares) at Dec. 31, 2023	35,521	35,521
Beginning Balance at Dec. 31, 2023	$ 1,981,420	$ 355	16,760	2,114,765	(150,460)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	163,912
Issuance of common stock in connection with:
Stock units issued under incentive compensation plan	$ 2,805
Ending Balance (in shares) at Jun. 30, 2024	35,902	35,902
Ending Balance at Jun. 30, 2024	$ 2,149,380	$ 359	33,955	2,278,677	(163,611)
Beginning Balance (in shares) at Mar. 31, 2024		35,697
Beginning Balance at Mar. 31, 2024	2,054,356	$ 357	21,162	2,194,730	(161,893)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	83,947			83,947
Other comprehensive income (loss):
Cumulative translation adjustment	(1,718)				(1,718)
Issuance of common stock in connection with:
Exercise of options (in shares)		180
Exercise of options	6,716	$ 2	6,714
Restricted share grants, less net settled shares (in shares)		25
Restricted share grants, less net settled shares	(3,210)		(3,210)
Share-based compensation	$ 9,289		9,289
Ending Balance (in shares) at Jun. 30, 2024	35,902	35,902
Ending Balance at Jun. 30, 2024	$ 2,149,380	$ 359	$ 33,955	$ 2,278,677	$ (163,611)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Restricted share grants, net settled shares (in shares)	15	57	13	55

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net income	$ 163,912	$ 109,942
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	21,173	19,547
Amortization of intangible assets	2,096	3,599
Provision for expected credit losses	19,923	11,188
Share-based compensation	18,101	13,903
Deferred income taxes	(6,840)	(6,571)
Acquisition-related contingent consideration	(1,157)	3,543
Amortization of debt issuance costs and other	387	1,296
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable, billed and unbilled	(115,106)	(245,999)
Notes receivable	(45,197)	(22,539)
Prepaid expenses and other assets	(12,630)	(6,718)
Accounts payable, accrued expenses and other	(8,934)	(159)
Income taxes	(29,727)	(13,122)
Accrued compensation	(145,509)	(130,625)
Billings in excess of services provided	(84)	(2,485)
Net cash used in operating activities	(139,592)	(265,200)
Investing activities
Purchases of property and equipment and other	(14,700)	(29,027)
Maturity of short-term investment	25,246	0
Net cash provided by (used in) investing activities	10,546	(29,027)
Financing activities
Borrowings under revolving line of credit	520,000	245,000
Repayments under revolving line of credit	(460,000)	(220,000)
Purchase and retirement of common stock	0	(20,982)
Share-based compensation tax withholdings	(14,320)	(11,922)
Proceeds on stock option exercises	10,614	1,167
Deposits and other	2,023	(2,206)
Net cash provided by (used in) financing activities	58,317	(8,943)
Effect of exchange rate changes on cash and cash equivalents	(6,065)	15,021
Net decrease in cash and cash equivalents	(76,794)	(288,149)
Cash and cash equivalents, beginning of period	303,222	491,688
Cash and cash equivalents, end of period	226,428	203,539
Supplemental cash flow disclosures
Cash paid for interest	4,020	4,144
Cash paid for income taxes and tax credits, net of refunds	74,831	57,376
Non-cash financing activities:
Issuance of stock units under incentive compensation plans	$ 2,805	$ 2,274

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
Basis of Presentation and Significant Accounting Policies	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies 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, 2023 filed with the SEC. Note 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, 2023 describes the significant accounting policies and methods used in preparation of the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q. In August 2022, the Inflation Reduction Act (“IRA”) was enacted into law. The IRA, among other things, includes provisions that permit clean energy tax credits that are transferable to an unrelated third party in exchange for cash payment. When the control of the investment tax credits transfers, the acquired credits are recognized as deferred tax assets and are measured under Accounting Standards Codification Topic 740, Income Taxes. The difference between the purchase price and the tax basis of the purchased credits is recognized as deferred credits. The deferred credits are recognized in income tax expense in proportion to the reversal of the associated deferred tax asset. The amounts paid for the tax credits are presented in the “Cash paid for income taxes and tax credits, net of tax refunds” line in the supplemental cash flow disclosures.

New Accounting Standards

New Accounting Standards	6 Months Ended
New Accounting Standards	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU is effective for annual periods beginning after December 15, 2023 and interim periods beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. Early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures

Earnings per Common Share

Earnings per Common Share	6 Months Ended
Earnings per Common Share	Jun. 30, 2024
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. For the three and six months ended June 30, 2023, we used 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 and six months ended June 30, 2023, as the average market price per share of our common stock for the period exceeded the conversion price of $101.38 per share. During the three and six months ended June 30, 2024, there were no 2023 Convertible Notes outstanding. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator — basic and diluted Net income $ 83,947 $ 62,395 $ 163,912 $ 109,942 Denominator Weighted average number of common shares outstanding — basic 35,221 33,359 35,099 33,331 Effect of dilutive share-based awards 513 550 531 562 Effect of dilutive stock options 111 297 186 301 Effect of dilutive convertible notes — 1,444 — 1,372 Weighted average number of common shares outstanding — diluted 35,845 35,650 35,816 35,566 Earnings per common share — basic $ 2.38 $ 1.87 $ 4.67 $ 3.30 Earnings per common share — diluted $ 2.34 $ 1.75 $ 4.58 $ 3.09 Antidilutive stock options and share-based awards 40 3 32 6

Revenues

Revenues	6 Months Ended
Revenues	Jun. 30, 2024
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 $8.9 million and $11.2 million for the three and six months ended June 30, 2024, respectively, and $7.8 million and $5.4 million for the three and six months ended June 30, 2023, respectively. Unfulfilled performance obligations primarily consist of fees not yet recognized on certain fixed-fee arrangements and performance-based and contingent arrangements. As of June 30, 2024 and December 31, 2023, the aggregate amount of the remaining contract transaction price allocated to unfulfilled performance obligations was $23.1 million and $34.6 million, respectively. We expect to recognize the majority of the related revenues over the next 36 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 June 30, 2024 and December 31, 2023. 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 June 30, 2024 and December 31, 2023.

Accounts Receivable and Allowan

Accounts Receivable and Allowance for Expected Credit Losses	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, Accounts receivable: Billed receivables $ 818,240 $ 745,371 Unbilled receivables 443,723 421,488 Allowance for expected credit losses (71,442) (64,717) Accounts receivable, net $ 1,190,521 $ 1,102,142 The following table summarizes the total provision for expected credit losses and write-offs: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Provision for expected credit losses $ 8,503 $ 4,176 $ 19,923 $ 11,188 Write-offs $ 9,511 $ 1,665 $ 19,881 $ 9,553 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	6 Months Ended
Goodwill and Intangible Assets	Jun. 30, 2024
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, 2023 $ 540,991 $ 213,415 $ 268,482 $ 96,802 $ 114,879 $ 1,234,569 Foreign currency translation adjustment (2,288) (571) (185) (10) (583) (3,637) Balance at June 30, 2024 $ 538,703 $ 212,844 $ 268,297 $ 96,792 $ 114,296 $ 1,230,932 (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 June 30, 2024 and December 31, 2023. (2) Amounts for our Strategic Communications segment include gross carrying values of $308.4 million and $309.0 million as of June 30, 2024 and December 31, 2023, respectively, and accumulated impairment losses of $194.1 million as of June 30, 2024 and December 31, 2023. Intangible Assets Intangible assets were as follows: June 30, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net Amortizing intangible assets Customer relationships $ 29,035 $ 17,638 $ 11,397 $ 27,000 $ 16,640 $ 10,360 Trademarks 9,426 7,712 1,714 9,712 7,129 2,583 Acquired software and other 865 699 166 888 646 242 39,326 26,049 13,277 37,600 24,415 13,185 Non-amortizing intangible assets Trademarks 5,100 — 5,100 5,100 — 5,100 Total $ 44,426 $ 26,049 $ 18,377 $ 42,700 $ 24,415 $ 18,285 Intangible assets with finite lives are amortized over their estimated useful lives. We recorded amortization expense of $1.1 million and $2.1 million during the three and six months ended June 30, 2024, respectively, and $1.4 million and $3.6 million for the three and six months ended June 30, 2023, respectively.

Financial Instruments

Financial Instruments	6 Months Ended
Financial Instruments	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments The fair values of all financial instruments are estimated to be equal to their carrying values as of June 30, 2024 and December 31, 2023. 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 fair value of acquisition-related contingent consideration was $5.1 million and $12.8 million as of June 30, 2024 and December 31, 2023, respectively. There were no other assets or liabilities subject to Level 3 fair value measurements as of June 30, 2024 and December 31, 2023.

Debt

Debt	6 Months Ended
Debt	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The table below presents the components of the Company’s debt: June 30, 2024 December 31, 2023 Credit Facility $ 60,000 $ — Long-term debt (1) $ 60,000 $ — (1) There were no current portions of long-term debt as of June 30, 2024 and December 31, 2023. In November 2022, we entered into the second amended and restated credit agreement governing 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 we have the intent and unilateral ability to refinance any borrowings on a continuous basis through the maturity of the Credit Facility on November 21, 2027. There were $3.0 million and $3.4 million of unamortized debt issuance costs related to the Credit Facility as of June 30, 2024 and December 31, 2023, respectively. These amounts are included in “Other assets” on our Condensed Consolidated Balance Sheets.

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2024
Leases [Abstract]
Leases	Leases We lease office space and equipment under non-cancelable operating leases. The table below summarizes the carrying amount of our operating lease assets and liabilities: Leases Classification June 30, 2024 December 31, 2023 Assets Operating lease assets Operating lease assets $ 202,511 $ 208,910 Total lease assets $ 202,511 $ 208,910 Liabilities Current Operating lease liabilities Accounts payable, accrued expenses and other $ 37,547 $ 33,864 Noncurrent Operating lease liabilities Noncurrent operating lease liabilities 214,517 223,774 Total lease liabilities $ 252,064 $ 257,638 The table below summarizes total lease costs: Three Months Ended June 30, Six Months Ended June 30, Lease Cost 2024 2023 2024 2023 Operating lease costs $ 12,364 $ 12,965 $ 24,908 $ 25,948 Short-term lease costs 952 708 1,394 1,400 Variable lease costs and other 3,696 2,985 6,783 5,778 Total lease cost, net $ 17,012 $ 16,658 $ 33,085 $ 33,126 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 June 30, 2024 2024 (remaining) $ 26,952 2025 50,846 2026 44,950 2027 43,567 2028 35,126 Thereafter 114,052 Total future lease payments 315,493 Less: imputed interest (63,429) Total $ 252,064 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: Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 27,501 $ 28,039 Operating lease assets obtained in exchange for lease liabilities $ 13,018 $ 19,671 Weighted average remaining lease term (years) Operating leases 7.5 8.1 Weighted average discount rate Operating leases 5.9 % 5.7 %

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We 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	6 Months Ended
Share-Based Compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation During the six months ended June 30, 2024, we granted 67,493 restricted share awards, 58,405 restricted stock units and 75,994 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 six months ended June 30, 2024, 12,212 shares of restricted stock, 1,059 restricted stock units and no stock options were forfeited prior to the completion of the applicable vesting requirements. Additionally, 988 performance stock units were forfeited during the six months ended June 30, 2024, arising from award targets that were not achieved. Total share-based compensation expense, net of forfeitures is detailed in the following table: Three Months Ended June 30, Six Months Ended June 30, Income Statement Classification 2024 2023 2024 2023 Direct cost of revenues $ 5,081 $ 4,562 $ 10,799 $ 9,261 Selling, general and administrative expenses 5,406 3,863 9,906 8,907 Total share-based compensation expense $ 10,487 $ 8,425 $ 20,705 $ 18,168

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity 2016 Stock Repurchase Program On 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 June 30, 2024, 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Shares of common stock repurchased and retired — — — 112 Average price paid per share $ — $ — $ — $ 158.70 Total cost $ — $ — $ — $ 17,797 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 Common stock outstanding was approximately 35.9 million shares and 35.5 million shares as of June 30, 2024 and December 31, 2023, respectively. 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	6 Months Ended
Segment Reporting	Jun. 30, 2024
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, governments and other financing sources and creditor groups, as well as other parties-in-interest. We deliver a wide range of services centered around four 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 across risk and investigations and disputes, supported by our data & analytics technology-enabled solutions, with a focus on highly regulated industries. Our services are centered around five core offerings: Construction, Projects & Assets and Environmental Solutions, Data & Analytics, Disputes, Healthcare Risk Management & Advisory, 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 and emerging data intersects with legal, regulatory and compliance needs. We deliver a wide range of expert and analytics-powered solutions driven by investigations, litigation, antitrust and competition, merger & acquisition, restructuring 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues Corporate Finance (1) $ 347,971 $ 317,912 $ 713,981 $ 633,564 FLC (1) 169,496 164,760 345,570 322,499 Economic Consulting 230,873 201,822 435,421 371,417 Technology 115,875 97,444 216,588 188,062 Strategic Communications 84,941 82,653 166,149 155,755 Total revenues $ 949,156 $ 864,591 $ 1,877,709 $ 1,671,297 Adjusted Segment EBITDA Corporate Finance (1) $ 66,467 $ 45,510 $ 141,692 $ 97,357 FLC (1) 14,994 25,598 48,703 47,382 Economic Consulting 44,296 35,523 58,446 49,716 Technology 20,930 20,087 35,511 35,453 Strategic Communications 11,611 12,263 24,037 21,819 Total Adjusted Segment EBITDA $ 158,298 $ 138,981 $ 308,389 $ 251,727 (1) Effective July 1, 2023, prior period segment information for the Corporate Finance and FLC segments has been recast in this Quarterly Report on Form 10-Q to include the reclassification of a portion of the Company’s health solutions practice in the FLC segment to our realigned business transformation practice within our Corporate Finance segment. The table below reconciles net income to Total Adjusted Segment EBITDA: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 83,947 $ 62,395 $ 163,912 $ 109,942 Add back: Income tax provision 18,735 22,708 38,265 37,682 Interest income and other (1,909) 584 (3,490) 1,926 Interest expense 3,319 3,022 5,038 5,961 Unallocated corporate expenses 42,884 39,026 82,415 73,761 Segment depreciation expense 10,242 9,829 20,153 18,856 Amortization of intangible assets 1,080 1,417 2,096 3,599 Total Adjusted Segment EBITDA $ 158,298 $ 138,981 $ 308,389 $ 251,727

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 83,947	$ 79,965	$ 62,395	$ 47,547	$ 163,912	$ 109,942

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [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, 2023 filed with the SEC.
New Accounting Standards	In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU is effective for annual periods beginning after December 15, 2023 and interim periods beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. Early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
Earnings per Common Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator — basic and diluted Net income $ 83,947 $ 62,395 $ 163,912 $ 109,942 Denominator Weighted average number of common shares outstanding — basic 35,221 33,359 35,099 33,331 Effect of dilutive share-based awards 513 550 531 562 Effect of dilutive stock options 111 297 186 301 Effect of dilutive convertible notes — 1,444 — 1,372 Weighted average number of common shares outstanding — diluted 35,845 35,650 35,816 35,566 Earnings per common share — basic $ 2.38 $ 1.87 $ 4.67 $ 3.30 Earnings per common share — diluted $ 2.34 $ 1.75 $ 4.58 $ 3.09 Antidilutive stock options and share-based awards 40 3 32 6

Accounts Receivable and Allow_2

Accounts Receivable and Allowance for Expected Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, Accounts receivable: Billed receivables $ 818,240 $ 745,371 Unbilled receivables 443,723 421,488 Allowance for expected credit losses (71,442) (64,717) Accounts receivable, net $ 1,190,521 $ 1,102,142
Schedule of Accounts Receivable, Writeoff	The following table summarizes the total provision for expected credit losses and write-offs: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Provision for expected credit losses $ 8,503 $ 4,176 $ 19,923 $ 11,188 Write-offs $ 9,511 $ 1,665 $ 19,881 $ 9,553

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule 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, 2023 $ 540,991 $ 213,415 $ 268,482 $ 96,802 $ 114,879 $ 1,234,569 Foreign currency translation adjustment (2,288) (571) (185) (10) (583) (3,637) Balance at June 30, 2024 $ 538,703 $ 212,844 $ 268,297 $ 96,792 $ 114,296 $ 1,230,932 (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 June 30, 2024 and December 31, 2023. (2) Amounts for our Strategic Communications segment include gross carrying values of $308.4 million and $309.0 million as of June 30, 2024 and December 31, 2023, respectively, and accumulated impairment losses of $194.1 million as of June 30, 2024 and December 31, 2023.
Schedule of Other Intangible Assets Amortized Intangibles	Intangible assets were as follows: June 30, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net Amortizing intangible assets Customer relationships $ 29,035 $ 17,638 $ 11,397 $ 27,000 $ 16,640 $ 10,360 Trademarks 9,426 7,712 1,714 9,712 7,129 2,583 Acquired software and other 865 699 166 888 646 242 39,326 26,049 13,277 37,600 24,415 13,185 Non-amortizing intangible assets Trademarks 5,100 — 5,100 5,100 — 5,100 Total $ 44,426 $ 26,049 $ 18,377 $ 42,700 $ 24,415 $ 18,285
Schedule of Other Intangible Assets Unamortized Intangibles	Intangible assets were as follows: June 30, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net Amortizing intangible assets Customer relationships $ 29,035 $ 17,638 $ 11,397 $ 27,000 $ 16,640 $ 10,360 Trademarks 9,426 7,712 1,714 9,712 7,129 2,583 Acquired software and other 865 699 166 888 646 242 39,326 26,049 13,277 37,600 24,415 13,185 Non-amortizing intangible assets Trademarks 5,100 — 5,100 5,100 — 5,100 Total $ 44,426 $ 26,049 $ 18,377 $ 42,700 $ 24,415 $ 18,285

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Components of Debt Obligations	The table below presents the components of the Company’s debt: June 30, 2024 December 31, 2023 Credit Facility $ 60,000 $ — Long-term debt (1) $ 60,000 $ — (1) There were no current portions of long-term debt as of June 30, 2024 and December 31, 2023.

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 Assets Operating lease assets Operating lease assets $ 202,511 $ 208,910 Total lease assets $ 202,511 $ 208,910 Liabilities Current Operating lease liabilities Accounts payable, accrued expenses and other $ 37,547 $ 33,864 Noncurrent Operating lease liabilities Noncurrent operating lease liabilities 214,517 223,774 Total lease liabilities $ 252,064 $ 257,638
Schedule of Lease Cost	The table below summarizes total lease costs: Three Months Ended June 30, Six Months Ended June 30, Lease Cost 2024 2023 2024 2023 Operating lease costs $ 12,364 $ 12,965 $ 24,908 $ 25,948 Short-term lease costs 952 708 1,394 1,400 Variable lease costs and other 3,696 2,985 6,783 5,778 Total lease cost, net $ 17,012 $ 16,658 $ 33,085 $ 33,126 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: Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of operating lease liabilities $ 27,501 $ 28,039 Operating lease assets obtained in exchange for lease liabilities $ 13,018 $ 19,671 Weighted average remaining lease term (years) Operating leases 7.5 8.1 Weighted average discount rate Operating leases 5.9 % 5.7 %
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 June 30, 2024 2024 (remaining) $ 26,952 2025 50,846 2026 44,950 2027 43,567 2028 35,126 Thereafter 114,052 Total future lease payments 315,493 Less: imputed interest (63,429) Total $ 252,064

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
Share-Based Compensation (Tables)	Jun. 30, 2024
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 June 30, Six Months Ended June 30, Income Statement Classification 2024 2023 2024 2023 Direct cost of revenues $ 5,081 $ 4,562 $ 10,799 $ 9,261 Selling, general and administrative expenses 5,406 3,863 9,906 8,907 Total share-based compensation expense $ 10,487 $ 8,425 $ 20,705 $ 18,168

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Stock Repurchases	The following table details our stock repurchases under the Repurchase Program: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Shares of common stock repurchased and retired — — — 112 Average price paid per share $ — $ — $ — $ 158.70 Total cost $ — $ — $ — $ 17,797

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
Segment Reporting (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues Corporate Finance (1) $ 347,971 $ 317,912 $ 713,981 $ 633,564 FLC (1) 169,496 164,760 345,570 322,499 Economic Consulting 230,873 201,822 435,421 371,417 Technology 115,875 97,444 216,588 188,062 Strategic Communications 84,941 82,653 166,149 155,755 Total revenues $ 949,156 $ 864,591 $ 1,877,709 $ 1,671,297 Adjusted Segment EBITDA Corporate Finance (1) $ 66,467 $ 45,510 $ 141,692 $ 97,357 FLC (1) 14,994 25,598 48,703 47,382 Economic Consulting 44,296 35,523 58,446 49,716 Technology 20,930 20,087 35,511 35,453 Strategic Communications 11,611 12,263 24,037 21,819 Total Adjusted Segment EBITDA $ 158,298 $ 138,981 $ 308,389 $ 251,727 (1)
Schedule of 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 83,947 $ 62,395 $ 163,912 $ 109,942 Add back: Income tax provision 18,735 22,708 38,265 37,682 Interest income and other (1,909) 584 (3,490) 1,926 Interest expense 3,319 3,022 5,038 5,961 Unallocated corporate expenses 42,884 39,026 82,415 73,761 Segment depreciation expense 10,242 9,829 20,153 18,856 Amortization of intangible assets 1,080 1,417 2,096 3,599 Total Adjusted Segment EBITDA $ 158,298 $ 138,981 $ 308,389 $ 251,727

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Common Share [Line Items]
Conversion price (in dollars per share)		$ 101.38		$ 101.38
Numerator — basic and diluted
Net income — basic	$ 83,947	$ 62,395	$ 163,912	$ 109,942
Net income — diluted	$ 83,947	$ 62,395	$ 163,912	$ 109,942
Denominator
Weighted average number of common shares outstanding — basic (in shares)	35,221	33,359	35,099	33,331
Effect of dilutive share-based awards (in shares)	513	550	531	562
Effect of dilutive stock options (in shares)	111	297	186	301
Effect of dilutive convertible notes (in shares)	0	1,444	0	1,372
Weighted average number of common shares outstanding — diluted (in shares)	35,845	35,650	35,816	35,566
Earnings per common share — basic (in dollars per share)	$ 2.38	$ 1.87	$ 4.67	$ 3.30
Earnings per common share — diluted (in dollars per share)	$ 2.34	$ 1.75	$ 4.58	$ 3.09
Stock Options and Share-Based Awards
Denominator
Antidilutive stock options and share-based awards (in shares)	40	3	32	6
2023 Convertible Notes \| Senior Notes
Earnings Per Common Share [Line Items]
Interest rate (as a percent)		2%		2%

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenues (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Performance obligations satisfied or partially satisfied in previous periods	$ 8.9	$ 7.8	$ 11.2	$ 5.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Unfulfilled performance obligations					$ 34.6
Performance obligation expected duration					36 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Disaggregation of Revenue [Line Items]
Unfulfilled performance obligations	$ 23.1		$ 23.1
Performance obligation expected duration	36 months		36 months

Accounts Receivable and Allow_3

Accounts Receivable and Allowance for Expected Credit Losses - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable:
Billed receivables	$ 818,240	$ 745,371
Unbilled receivables	443,723	421,488
Allowance for expected credit losses	(71,442)	(64,717)
Accounts receivable, net	$ 1,190,521	$ 1,102,142

Accounts Receivable and Allow_4

Accounts Receivable and Allowance for Expected Credit Losses - Writeoff (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Allowance for Doubtful Accounts and Unbilled Services [Abstract]
Provision for expected credit losses	$ 8,503	$ 4,176	$ 19,923	$ 11,188
Write-offs	$ 9,511	$ 1,665	$ 19,881	$ 9,553

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill beginning of period	$ 1,234,569
Foreign currency translation adjustment	(3,637)
Goodwill end of period	1,230,932
Corporate Finance & Restructuring
Goodwill [Roll Forward]
Goodwill beginning of period	540,991
Foreign currency translation adjustment	(2,288)
Goodwill end of period	538,703
Accumulated impairment loss	0	$ 0
Forensic and Litigation Consulting
Goodwill [Roll Forward]
Goodwill beginning of period	213,415
Foreign currency translation adjustment	(571)
Goodwill end of period	212,844
Accumulated impairment loss	0	0
Economic Consulting
Goodwill [Roll Forward]
Goodwill beginning of period	268,482
Foreign currency translation adjustment	(185)
Goodwill end of period	268,297
Accumulated impairment loss	0	0
Technology
Goodwill [Roll Forward]
Goodwill beginning of period	96,802
Foreign currency translation adjustment	(10)
Goodwill end of period	96,792
Accumulated impairment loss	0	0
Strategic Communications
Goodwill [Roll Forward]
Goodwill beginning of period	114,879
Foreign currency translation adjustment	(583)
Goodwill end of period	114,296
Accumulated impairment loss	194,100	194,100
Goodwill	$ 308,400	$ 309,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 39,326	$ 37,600
Accumulated Amortization	26,049	24,415
Net Carrying Amount	13,277	13,185
Intangible assets, gross carrying amount	44,426	42,700
Intangible assets, Net Carrying Amount	18,377	18,285
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	29,035	27,000
Accumulated Amortization	17,638	16,640
Net Carrying Amount	11,397	10,360
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,426	9,712
Accumulated Amortization	7,712	7,129
Net Carrying Amount	1,714	2,583
Acquired software and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	865	888
Accumulated Amortization	699	646
Net Carrying Amount	$ 166	$ 242

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangible assets	$ 1,080	$ 1,417	$ 2,096	$ 3,599

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Acquisition-related contingent consideration	$ 5.1	$ 12.8

Debt - Summary of Components of

Debt - Summary of Components of Debt Obligations (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 60,000,000	$ 0
Current portion of long-term debt, net	0	0
Credit Facility
Debt Instrument [Line Items]
Total debt	$ 60,000,000	$ 0

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended
Debt - Additional Information (Details) - USD ($)	Nov. 30, 2022	Jun. 30, 2024	Dec. 31, 2023	Nov. 21, 2022	Nov. 20, 2022	Jun. 26, 2015
Federal Funds
Debt Instrument [Line Items]
Credit facility basis point (as a percent)	0.50%
Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Credit facility basis point (as a percent)	1%
Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Senior secured revolving line of credit				$ 300,000,000	$ 150,000,000
Debt issuance costs						$ 4,000,000
Unamortized debt issuance costs		$ 3,000,000	$ 3,400,000
Credit Facility \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Senior secured revolving line of credit		$ 900,000,000				$ 550,000,000
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 - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease assets	$ 202,511	$ 208,910
Current operating lease liabilities	37,547	33,864
Noncurrent operating lease liabilities	214,517	223,774
Total lease liabilities	$ 252,064	$ 257,638
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		6 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lease Cost
Operating lease costs	$ 12,364	$ 12,965	$ 24,908	$ 25,948
Short-term lease costs	952	708	1,394	1,400
Variable lease costs and other	3,696	2,985	6,783	5,778
Total lease cost, net	$ 17,012	$ 16,658	$ 33,085	$ 33,126

Leases - Maturity Analysis (Det

Leases - Maturity Analysis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024 (remaining)	$ 26,952
2025	50,846
2026	44,950
2027	43,567
2028	35,126
Thereafter	114,052
Total future lease payments	315,493
Less: imputed interest	(63,429)
Total lease liabilities	$ 252,064	$ 257,638

Leases - Cash Paid for Operatin

Leases - Cash Paid for Operating Leases and Noncash Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 27,501	$ 28,039
Operating lease assets obtained in exchange for lease liabilities	$ 13,018	$ 19,671
Weighted average remaining lease term (years), Operating leases	7 years 6 months	8 years 1 month 6 days
Weighted average discount rate, Operating leases	5.90%	5.70%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details)	6 Months Ended
Share-Based Compensation - Additional Information (Details)	Jun. 30, 2024 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)	67,493
Restricted stock forfeited (in shares)	12,212
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	58,405
Restricted stock forfeited (in shares)	1,059
Performance-based Restricted Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	75,994
Award vesting rights, percentage	150%
Forfeited in period (in shares)	988

Share-Based Compensation - Sche

Share-Based Compensation - Schedule Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 10,487	$ 8,425	$ 20,705	$ 18,168
Direct cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	5,081	4,562	10,799	9,261
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 5,406	$ 3,863	$ 9,906	$ 8,907

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands	Jun. 30, 2024	Dec. 31, 2023	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)	35,902	35,521
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			6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders Equity [Line Items]
Total cost			$ 17,799
2016 Stock Repurchase Program
Stockholders Equity [Line Items]
Shares of common stock repurchased and retired (in shares)	0	0		0	112
Average price paid per share (in dollars per share)	$ 0	$ 0		$ 0	$ 158.70
Total cost	$ 0	$ 0		$ 0	$ 17,797

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	6 Months Ended
Segment Reporting - Additional Information (Details)	Jun. 30, 2024 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 949,156	$ 864,591	$ 1,877,709	$ 1,671,297
Adjusted Segment EBITDA	158,298	138,981	308,389	251,727
Corporate Finance
Segment Reporting Information [Line Items]
Revenues	347,971	317,912	713,981	633,564
Adjusted Segment EBITDA	66,467	45,510	141,692	97,357
FLC
Segment Reporting Information [Line Items]
Revenues	169,496	164,760	345,570	322,499
Adjusted Segment EBITDA	14,994	25,598	48,703	47,382
Economic Consulting
Segment Reporting Information [Line Items]
Revenues	230,873	201,822	435,421	371,417
Adjusted Segment EBITDA	44,296	35,523	58,446	49,716
Technology
Segment Reporting Information [Line Items]
Revenues	115,875	97,444	216,588	188,062
Adjusted Segment EBITDA	20,930	20,087	35,511	35,453
Strategic Communications
Segment Reporting Information [Line Items]
Revenues	84,941	82,653	166,149	155,755
Adjusted Segment EBITDA	$ 11,611	$ 12,263	$ 24,037	$ 21,819

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				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Net income	$ 83,947	$ 79,965	$ 62,395	$ 47,547	$ 163,912	$ 109,942
Income tax provision	18,735		22,708		38,265	37,682
Interest income and other	(1,909)		584		(3,490)	1,926
Interest expense	3,319		3,022		5,038	5,961
Total Adjusted Segment EBITDA	158,298		138,981		308,389	251,727
Segment Reconciling Items
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Net income	83,947		62,395		163,912	109,942
Income tax provision	18,735		22,708		38,265	37,682
Interest income and other	(1,909)		584		(3,490)	1,926
Interest expense	3,319		3,022		5,038	5,961
Unallocated corporate expenses	42,884		39,026		82,415	73,761
Segment depreciation expense	10,242		9,829		20,153	18,856
Amortization of intangible assets	1,080		1,417		2,096	3,599
Total Adjusted Segment EBITDA	$ 158,298		$ 138,981		$ 308,389	$ 251,727