| Segment Information |
Segment Information
The Company operates its executive search and leadership consulting services in the Americas; Europe (which includes Africa); and Asia Pacific (which includes the Middle East) and operates its culture shaping business as a separate segment.
For segment purposes, reimbursements of out-of-pocket expenses classified as revenue and other operating income are reported separately and, therefore, are not included in the results of each segment. The Company believes that analyzing trends in revenue before reimbursements (net revenue), analyzing operating expenses as a percentage of net revenue, and analyzing operating income (loss) more appropriately reflects its core operations.
The revenue, operating income, depreciation and amortization, and capital expenditures, by segment, are as follows: | | | | | | | | | | | | | | | | December 31, | | | 2015 | | 2014 | | 2013 | Revenue: | | | | | | | Executive Search and Leadership Consulting | | | | | | | Americas | | $ | 300,473 |
| | $ | 260,830 |
| | $ | 256,706 |
| Europe | | 100,606 |
| | 108,979 |
| | 90,081 |
| Asia Pacific | | 93,733 |
| | 89,732 |
| | 90,418 |
| Total Executive Search and Leadership Consulting | | 494,812 |
| | 459,541 |
| | 437,205 |
| Culture Shaping | | 36,327 |
| | 34,751 |
| | 24,790 |
| Revenue before reimbursements (net revenue) | | 531,139 |
| | 494,292 |
| | 461,995 |
| Reimbursements | | 17,172 |
| | 18,947 |
| | 18,998 |
| Total | | $ | 548,311 |
| | $ | 513,239 |
| | $ | 480,993 |
| Operating income: | | | | | | | Executive Search and Leadership Consulting | | | | | | | Americas | | $ | 67,672 |
| | $ | 57,682 |
| | $ | 60,171 |
| Europe | | 2,234 |
| | 4,806 |
| | (6,513 | ) | Asia Pacific | | 5,843 |
| | 4,886 |
| | 3,678 |
| Total Executive Search and Leadership Consulting | | 75,749 |
| | 67,374 |
| | 57,336 |
| Culture Shaping | | 4,913 |
| | 4,621 |
| | (4,215 | ) | Total Segments | | 80,662 |
| | 71,995 |
| | 53,121 |
| Global Operations Support | | (46,600 | ) | | (45,342 | ) | | (37,556 | ) | Total | | $ | 34,062 |
| | $ | 26,653 |
| | $ | 15,565 |
| Depreciation and amortization | | | | | | | Executive Search and Leadership Consulting | | | | | | | Americas | | $ | 3,896 |
| | $ | 2,942 |
| | $ | 3,672 |
| Europe | | 1,845 |
| | 3,279 |
| | 2,853 |
| Asia Pacific | | 1,423 |
| | 1,856 |
| | 2,281 |
| Total Executive Search and Leadership Consulting | | 7,164 |
| | 8,077 |
| | 8,806 |
| Culture Shaping | | 4,520 |
| | 5,325 |
| | 5,738 |
| Total segments | | 11,684 |
| | 13,402 |
| | 14,544 |
| Global Operations Support | | 2,012 |
| | 1,910 |
| | 1,731 |
| Total | | $ | 13,696 |
| | $ | 15,312 |
| | $ | 16,275 |
| Capital expenditures: | | | | | | | Executive Search and Leadership Consulting | | | | | | | Americas | | $ | 7,500 |
| | $ | 2,858 |
| | $ | 1,411 |
| Europe | | 999 |
| | 478 |
| | 822 |
| Asia Pacific | | 1,086 |
| | 512 |
| | 1,053 |
| Total Executive Search and Leadership Consulting | | 9,585 |
| | 3,848 |
| | 3,286 |
| Culture Shaping | | 95 |
| | 53 |
| | 13 |
| Total segments | | 9,680 |
| | 3,901 |
| | 3,286 |
| Global Operations Support | | 6,183 |
| | 1,934 |
| | 445 |
| Total | | $ | 15,863 |
| | $ | 5,835 |
| | $ | 3,731 |
|
Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows: | | | | | | | | | | | | | | As Adjusted | | | December 31, | | | 2015 | | 2014 | Current assets: | | | | | Executive Search and Leadership Consulting | | | | | Americas | | $ | 160,327 |
| | $ | 185,300 |
| Europe | | 52,768 |
| | 48,594 |
| Asia Pacific | | 58,339 |
| | 51,793 |
| Total Executive Search and Leadership Consulting | | 271,434 |
| | 285,687 |
| Culture Shaping | | 36,209 |
| | 32,157 |
| Total segments | | 307,643 |
| | 317,844 |
| Global Operations Support | | 1,320 |
| | 391 |
| Total allocated current assets | | 308,963 |
| | 318,235 |
| Unallocated non-current assets: | | 113,946 |
| | 107,271 |
| Goodwill and other intangible assets, net: | | | | | Executive Search and Leadership Consulting | | | | | Americas | | $ | 82,390 |
| | $ | 83,314 |
| Europe | | 13,293 |
| | — |
| Asia Pacific | | 9,420 |
| | 10,638 |
| Total Executive Search and Leadership Consulting | | 105,103 |
| | 93,952 |
| Culture Shaping | | 44,706 |
| | 49,163 |
| Total goodwill and other intangible assets, net | | 149,809 |
| | 143,115 |
| Total assets: | | $ | 572,718 |
| | $ | 568,621 |
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