Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 21, 2020 | Jun. 28, 2019 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | HSII | ||
Entity Registrant Name | HEIDRICK & STRUGGLES INTERNATIONAL INC | ||
Entity Central Index Key | 0001066605 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 19,170,352 | ||
Entity Public Float | $ 484,944,428 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 271,719,000 | $ 279,906,000 |
Marketable securities | 61,153,000 | 0 |
Accounts receivable, net | 109,163,000 | 114,977,000 |
Prepaid expenses | 20,185,000 | 22,766,000 |
Other current assets | 27,848,000 | 29,598,000 |
Income taxes recoverable | 4,414,000 | 3,620,000 |
Total current assets | 494,482,000 | 450,867,000 |
Non-current assets: | ||
Property and equipment, net | 28,650,000 | 33,871,000 |
Operating lease right-of-use assets | 99,391,000 | 0 |
Assets designated for retirement and pension plans | 13,978,000 | 15,035,000 |
Investments | 25,409,000 | 19,442,000 |
Other non-current assets | 20,434,000 | 22,276,000 |
Goodwill | 126,831,000 | 122,092,000 |
Other intangible assets, net | 1,935,000 | 2,216,000 |
Deferred income taxes | 33,063,000 | 34,830,000 |
Total non-current assets | 349,691,000 | 249,762,000 |
Assets | 844,173,000 | 700,629,000 |
Current liabilities: | ||
Accounts payable | 8,633,000 | 9,166,000 |
Accrued salaries and benefits | 234,306,000 | 227,653,000 |
Deferred revenue | 41,267,000 | 40,673,000 |
Operating lease liabilities | 30,955,000 | 0 |
Other current liabilities | 26,253,000 | 33,219,000 |
Income taxes payable | 3,928,000 | 8,240,000 |
Total current liabilities | 345,342,000 | 318,951,000 |
Liabilities, Noncurrent [Abstract] | ||
Accrued salaries and benefits | 59,662,000 | 57,234,000 |
Retirement and pension plans | 46,032,000 | 39,865,000 |
Operating lease liabilities | 79,388,000 | 0 |
Other non-current liabilities | 4,634,000 | 17,423,000 |
Total non-current liabilities | 189,716,000 | 114,522,000 |
Total liabilities | 535,058,000 | 433,473,000 |
Commitments and contingencies (Note 20) | ||
Stockholders’ equity: | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued at December 31, 2019 and December 31, 2018 | 0 | 0 |
Common stock, $0.01 par value, 100,000,000 shares authorized, 19,585,777 shares issued, 19,165,954 and 18,954,275 shares outstanding at December 31, 2019 and December 31, 2018, respectively | 196,000 | 196,000 |
Treasury stock at cost, 419,823 and 631,502 shares at December 31, 2019 and December 31, 2018, respectively | (14,795,000) | (20,298,000) |
Additional paid in capital | 228,807,000 | 227,147,000 |
Retained earnings | 91,083,000 | 56,049,000 |
Accumulated other comprehensive income | 3,824,000 | 4,062,000 |
Total stockholders’ equity | 309,115,000 | 267,156,000 |
Total liabilities and stockholders’ equity | $ 844,173,000 | $ 700,629,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 19,585,777 | 19,585,777 |
Common stock, shares outstanding | 19,165,954 | 18,954,275 |
Treasury stock, shares | 419,823 | 631,502 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | |||
Revenue before reimbursements (net revenue) | $ 706,924 | $ 716,023 | $ 621,400 |
Revenue: | |||
Reimbursements | 18,690 | 19,632 | 18,656 |
Total revenue | 725,614 | 735,655 | 640,056 |
Operating expenses: | |||
Salaries and benefits | 501,791 | 506,349 | 434,219 |
General and administrative expenses | 137,492 | 140,817 | 147,316 |
Impairment charges | 0 | 0 | 50,722 |
Restructuring charges | 4,130 | 0 | 15,666 |
Reimbursed expenses | 18,690 | 19,632 | 18,656 |
Total operating expenses | 662,103 | 666,798 | 666,579 |
Operating income (loss) | 63,511 | 68,857 | (26,523) |
Non-operating income (expense): | |||
Interest, net | 2,880 | 1,141 | 385 |
Other, net | 2,898 | 494 | (3,280) |
Net non-operating income (expense) | 5,778 | 1,635 | (2,895) |
Income (loss) before income taxes | 69,289 | 70,492 | (29,418) |
Provision for income taxes | 22,420 | 21,197 | 19,217 |
Net income (loss) | 46,869 | 49,295 | (48,635) |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustment | 844 | (3,885) | 6,853 |
Net unrealized gain (loss) on available-for-sale investments | 13 | 0 | 2,660 |
Pension gain (loss) adjustment | (1,095) | 721 | 480 |
Other comprehensive income (loss), net of tax | (238) | (3,164) | 9,993 |
Comprehensive income (loss) | $ 46,631 | $ 46,131 | $ (38,642) |
Basic weighted average common shares outstanding | 19,103 | 18,917 | 18,735 |
Diluted weighted average common shares outstanding | 19,551 | 19,532 | 18,735 |
Basic net income (loss) per common share | $ 2.45 | $ 2.61 | $ (2.60) |
Diluted net income (loss) per common share | 2.40 | 2.52 | (2.60) |
Cash dividends paid per share | $ 0.60 | $ 0.52 | $ 0.52 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
Beginning Balance, shares at Dec. 31, 2016 | 19,586 | 1,008 | ||||
Beginning Balance at Dec. 31, 2016 | $ 258,590 | $ 196 | $ (32,915) | $ 229,957 | $ 58,030 | $ 3,322 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | (48,635) | (48,635) | ||||
Other comprehensive income, net of tax | 9,993 | 9,993 | ||||
Treasury and common stock transactions: | ||||||
Stock-based compensation | 4,935 | 4,935 | ||||
Vesting of equity, net of tax withholdings (in shares) | (188) | |||||
Vesting of equity, net of tax withholdings | (2,405) | $ 6,311 | (8,716) | |||
Re-issuance of treasury stock (in shares) | (15) | |||||
Re-issuance of treasury stock | 338 | $ 508 | (170) | |||
Dividends | 9,762 | (9,762) | ||||
Dividend equivalents on restricted stock units | (349) | (349) | ||||
Ending Balance, shares at Dec. 31, 2017 | 19,586 | 805 | ||||
Ending Balance at Dec. 31, 2017 | 212,705 | $ 196 | $ (26,096) | 226,006 | (716) | 13,315 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 49,295 | 49,295 | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 8,954 | (6,089) | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Accounting Standards Updates 2014-09 and 2016-01 [Member] | 15,043 | |||||
Other comprehensive income, net of tax | (3,164) | (3,164) | ||||
Treasury and common stock transactions: | ||||||
Stock-based compensation | 8,947 | 8,947 | ||||
Vesting of equity, net of tax withholdings (in shares) | (167) | |||||
Vesting of equity, net of tax withholdings | (2,233) | $ 5,604 | (7,837) | |||
Re-issuance of treasury stock (in shares) | (6) | |||||
Re-issuance of treasury stock | 225 | $ 194 | 31 | |||
Dividends | 7,389 | (7,389) | ||||
Dividend equivalents on restricted stock units | (184) | (184) | ||||
Ending Balance, shares at Dec. 31, 2018 | 19,586 | 632 | ||||
Ending Balance at Dec. 31, 2018 | 267,156 | $ 196 | $ (20,298) | 227,147 | 56,049 | 4,062 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 46,869 | 46,869 | ||||
Other comprehensive income, net of tax | (238) | (238) | ||||
Treasury and common stock transactions: | ||||||
Stock-based compensation | 10,298 | 10,298 | ||||
Vesting of equity, net of tax withholdings (in shares) | (163) | |||||
Vesting of equity, net of tax withholdings | (4,552) | $ 5,154 | (9,706) | |||
Re-issuance of treasury stock (in shares) | (49) | |||||
Re-issuance of treasury stock | 1,417 | $ 349 | 1,068 | |||
Dividends | 11,461 | (11,461) | ||||
Dividend equivalents on restricted stock units | (374) | (374) | ||||
Ending Balance, shares at Dec. 31, 2019 | 19,586 | 420 | ||||
Ending Balance at Dec. 31, 2019 | $ 309,115 | $ 196 | $ (14,795) | $ 228,807 | $ 91,083 | $ 3,824 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows - operating activities: | |||
Net income (loss) | $ 46,869 | $ 49,295 | $ (48,635) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 10,371 | 12,522 | 14,774 |
Deferred income taxes | 1,644 | (3,496) | (1,690) |
Stock-based compensation expense | 10,298 | 8,947 | 4,935 |
Accretion expense related to earnout payments | 668 | 1,285 | 1,038 |
Impairment charges | 0 | 0 | 50,722 |
Marketable Securities, Gain (Loss) | (595) | 0 | 0 |
Changes in assets and liabilities, net of effects of acquisitions: | |||
Accounts receivable | 6,899 | (16,759) | (1,882) |
Accounts payable | (994) | (526) | 1,474 |
Accrued expenses | 2,441 | 71,526 | 18,330 |
Restructuring accrual | 1,959 | (11,617) | 13,025 |
Deferred revenue | 175 | (1,899) | 2,010 |
Income taxes (payable) recoverable, net | (5,450) | 757 | 3,381 |
Retirement and pension plan assets and liabilities | 3,258 | (1,492) | 3,065 |
Prepaid expenses | (455) | (893) | 797 |
Other assets and liabilities, net | 1,557 | (4,748) | 5,626 |
Net Cash Provided by (Used in) Operating Activities | 78,645 | 102,902 | 66,970 |
Cash flows - investing activities: | |||
Acquisition of business, net of cash acquired | (3,520) | (3,083) | (364) |
Capital expenditures | (3,352) | (5,960) | (14,022) |
Purchases of available for sale investments | (130,411) | (2,201) | (2,269) |
Proceeds from sale of available for sale investments | 67,968 | 2,995 | 1,404 |
Net Cash Provided by (Used in) Investing Activities | (69,315) | (8,249) | (15,251) |
Cash flows - financing activities: | |||
Proceeds from Lines of Credit | 0 | 20,000 | 40,000 |
Repayments of Lines of Credit | 0 | 20,000 | 40,000 |
Debt issuance costs | 0 | 981 | 0 |
Cash dividends paid | (11,835) | (10,181) | (10,111) |
Payment of employee tax withholdings on equity transactions | (4,552) | (2,234) | (2,392) |
Acquisition earnout payments | (1,853) | (3,592) | (4,557) |
Net Cash Provided by (Used in) Financing Activities | (18,240) | (16,988) | (17,060) |
Effect of exchange rates fluctuations on cash, cash equivalents and restricted cash | 367 | (5,565) | 7,933 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (8,543) | 72,100 | 42,592 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 271,719 | 280,262 | 208,162 |
Cash, cash equivalents and restricted cash at end of period | 271,719 | 279,906 | 207,534 |
Cash paid for | |||
Income taxes | 27,338 | 22,616 | 14,814 |
Interest | $ 0 | $ 67 | $ 193 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Heidrick & Struggles International, Inc. and subsidiaries (the “Company”) is engaged in providing executive search and consulting services to clients on a retained basis. The Company operates in the Americas, Europe and Asia Pacific regions. The consolidated financial statements include Heidrick & Struggles International, Inc. and its wholly owned subsidiaries and have been prepared using accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Significant items subject to estimates and assumptions include revenue recognition, allowances for deferred tax assets and liabilities, and assessment of goodwill and other intangible assets for impairment. Estimates are subject to a degree of uncertainty and actual results could differ from these estimates. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. Marketable Securities The Company’s marketable securities consist of available-for-sale debt securities with original maturities exceeding three months. Concentration of Risk The Company is potentially exposed to concentrations of risk associated with its accounts receivable. However, this risk is limited due to the Company’s large number of clients and their dispersion across many different industries and geographies. At December 31, 2019 and 2018 , the Company had no significant concentrations of risk. Accounts Receivable The Company’s accounts receivable consists of trade receivables. The allowance for doubtful accounts is developed based upon several factors including the age of the Company’s accounts receivable, historical write-off experience and specific account analysis. These factors may change over time, impacting the allowance level. Fair Value of Financial Instruments Cash equivalents are stated at cost, which approximates fair value. The carrying value for receivables from clients, accounts payable, deferred revenue and other accrued liabilities reasonably approximate fair value due to the nature of the financial instruments and the short-term nature of the items. Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. Long-lived Assets The Company reviews its long-lived assets, including property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset exceeds the fair value of the asset, is recognized. Investments The Company’s investments consist primarily of available-for-sale investments within the U.S. non-qualified deferred compensation plan (the “Plan”). Available-for-sale investments are reported at fair value with changes in unrealized gains (losses) and realized gains (losses) recorded as a non-operating expense in Other, net in the Consolidated Statements of Comprehensive Income (Loss). Goodwill and Other Intangible Assets Goodwill represents the difference between the purchase price of acquired companies and the related fair value of the net assets acquired, which is accounted for by the acquisition method of accounting. Other intangible assets include client relationships, trade names, and employee non-compete agreements. The Company performs assessments of the carrying value of goodwill at least annually and of its goodwill and other intangible assets whenever events occur or circumstances indicate that a carrying amount of these assets may not be recoverable. These circumstances include a significant change in business climate, attrition of key personnel, changes in financial condition or results of operations, a prolonged decline in the Company’s stock price and market capitalization, competition, and other factors. The goodwill impairment test compares the fair value of a reporting unit to its carrying amount, including goodwill. The Company operates four reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East) and Heidrick Consulting. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. The fair value of each of the Company’s reporting units is determined using a discounted cash flow methodology. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit. The other intangible asset impairment review compares the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset exceeds the fair value, is recognized. Other intangible assets acquired are amortized either using the straight-line method over their estimated useful lives or based on the projected cash flow associated with the respective intangible assets. Restructuring Charges The Company accounts for restructuring charges by recognizing a liability at fair value when the costs are incurred. Revenue Recognition See Note 3 , Revenue . Reimbursements The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue and expense in its Consolidated Statements of Comprehensive Income (Loss). Salaries and Benefits Salaries and benefits consist of compensation and benefits paid to consultants, executive officers, and administrative and support personnel, of which the most significant elements are salaries and annual performance-related bonuses. Other items in this category are expenses related to sign-on bonuses, forgivable employee loans and minimum guaranteed bonuses (often incurred in connection with the hiring of new consultants), restricted stock unit and performance share unit amortization, payroll taxes, profit sharing and retirement benefits, and employee insurance benefits. Salaries and benefits are recognized on an accrual basis. Certain sign-on bonuses, retention awards, and minimum guaranteed compensation are capitalized and amortized in accordance with the terms of the respective agreements. A portion of the Company’s consultants’ and management cash bonuses are deferred and paid over a three -year vesting period. The portion of the bonus is approximately 15% depending on the employee’s level or position. The compensation expense related to the amounts being deferred is recognized on a graded vesting attribution method over the requisite service period. This service period begins on January 1 of the respective fiscal year and continues through the deferral date, which coincides with the Company’s bonus payments in the first quarter of the following year and for an additional three -year vesting period. The deferrals are recorded in Accrued salaries and benefits within both Current liabilities and Non-current liabilities in the Consolidated Balance Sheets. Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities, applying enacted statutory tax rates in effect for the year in which the tax differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Earnings per Common Share Basic earnings per common share is computed by dividing net income (loss) by weighted average common shares outstanding for the year. Diluted earnings (loss) per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Common equivalent shares are excluded from the determination of diluted earnings per share in periods in which they have an anti-dilutive effect. The following table sets forth the computation of basic and diluted earnings (loss) per share: December 31, 2019 2018 2017 Net income (loss) $ 46,869 $ 49,295 $ (48,635 ) Weighted average shares outstanding: Basic 19,103 18,917 18,735 Effect of dilutive securities: Restricted stock units 285 406 — Performance stock units 163 209 — Diluted 19,551 19,532 18,735 Basic earnings (loss) per share $ 2.45 $ 2.61 $ (2.60 ) Diluted earnings (loss) per share $ 2.40 $ 2.52 $ (2.60 ) Weighted average restricted stock units and performance stock units outstanding that could be converted into approximately 327,000 and 80,000 common shares, respectively, for the year ended December 31, 2017 , were not included in the computation of diluted loss per share because the effects would be anti-dilutive. Translation of Foreign Currencies The Company generally designates the local currency for all its subsidiaries as the functional currency. The Company translates the assets and liabilities of its subsidiaries into U.S. dollars at the current rate of exchange prevailing at the balance sheet date. Revenue and expenses are translated at a monthly average exchange rate for the period. Translation adjustments are reported as a component of Accumulated other comprehensive income . Restricted Cash Historically, the Company had lease agreements and business licenses with terms that required the Company to restrict cash through the termination dates of the agreements. Current and non-current restricted cash is included in Other current assets and Other non-current assets, respectively, in the Condensed Consolidated Balance Sheets. The following table provides a reconciliation of the cash and cash equivalents between the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statement of Cash Flows as of December 31, 2019 , 2018 and 2017 : December 31, 2019 2018 2017 Cash and cash equivalents $ 271,719 $ 279,906 $ 207,534 Restricted cash included within other current assets — 108 526 Restricted cash included within other non-current assets — 248 102 Total cash, cash equivalents and restricted cash $ 271,719 $ 280,262 $ 208,162 Recently Issued Financial Accounting Standards In December 2019, the Financial Accounting Standards Board ("FASB"), issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes. The guidance simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification ("ASC") 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. The Company is currently evaluating the impact of this accounting guidance. The effect is not known or reasonably estimable at this time. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments. The guidance amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The standard is effective for fiscal years beginning after December 15, 2019. The Company will adopt this guidance in its fiscal year beginning January 1, 2020. The adoption of this guidance is not anticipated to have a material impact on our consolidated financial statements. Recently Adopted Financial Accounting Standards On January 1, 2019, the Company adopted ASU No. 2016-02, Leases, ASU No. 2018-10, Codification Improvements to Topic 842 (Leases) and ASU No. 2018-11, Targeted Improvements to Topic 842 (Leases). The guidance is intended to increase transparency and comparability among companies for leasing transactions, including a requirement for companies that lease assets to recognize on their balance sheets the assets and liabilities for the rights and obligations created by those leases. The guidance also provides for disclosures that allow the users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted the guidance on January 1, 2019 using the modified retrospective method without restatement of comparative periods. As such, periods prior to the date of adoption are presented in accordance with ASC 840 - Leases. The Company utilized the available practical expedient that allowed for the Company to not reassess whether existing contracts contain a lease under the new definition of a lease, lease classification for existing leases and whether previously capitalized initial direct costs would qualify for capitalization under the new guidance. The adoption of this guidance had a material impact on the Condensed Consolidated Balance Sheet as of December 31, 2019 due to the recognition of equal right-of-use assets and lease liabilities for the Company's portfolio of operating leases. The right-of-use asset balance was then adjusted by the reclassification of pre-existing prepaid and accrued rent balances from other line items within the Condensed Consolidated Balance Sheet. The adoption had an immaterial impact on the Condensed Consolidated Statement of Comprehensive Income and Condensed Consolidated Statement of Cash Flows for the year ended December 31, 2019. The adoption had no impact on the Condensed Consolidated Statement of Changes in Stockholders' Equity for the year ended December 31, 2019. Additional information and disclosures required by the new standard are contained in Note 6 , Leases . On January 1, 2019, the Company adopted ASU No. 2018-02, Income Statement - Reporting Comprehensive Income, which is intended to improve the usefulness of information reported as a result of the Tax Cuts and Jobs Act. The new guidance allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The adoption of this guidance did not have an impact on the Company's consolidated financial statements. |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue [Abstract] | |
Revenue from Contracts with Customers [Text Block] | Executive Search Revenue is recognized as we satisfy our performance obligations by transferring a good or service to a client. Generally, each of our executive search contracts contain one performance obligation which is the process of identifying potentially qualified candidates for a specific client position. In most contracts, the transaction price includes both fixed and variable consideration. Fixed compensation is comprised of a retainer, equal to approximately one-third of the estimated first year compensation for the position to be filled, and indirect expenses, equal to a specified percentage of the retainer, as defined in the contract. The Company generally bills its clients for its retainer and indirect expenses in one-third increments over a three-month period commencing in the month of a client’s acceptance of the contract. If actual compensation of a placed candidate exceeds the original compensation estimate, the Company is often authorized to bill the client for one-third of the excess compensation. The Company refers to this additional billing as uptick revenue. In most contracts, variable consideration is comprised of uptick revenue and direct expenses. The Company bills its clients for uptick revenue upon completion of the executive search, and direct expenses are billed as incurred. As required under ASU No. 2014-09, the Company now estimates uptick revenue at contract inception, based on a portfolio approach, utilizing the expected value method based on a historical analysis of uptick revenue realized in the Company’s geographic regions and industry practices, and initially records a contract’s uptick revenue in an amount that is probable not to result in a significant reversal of cumulative revenue recognized when the actual amount of uptick revenue for that contract is known. Differences between the estimated and actual amounts of variable consideration are recorded when known. The Company does not estimate revenue for direct expenses as it is not materially different than recognizing revenue as direct expenses are incurred. Revenue from our executive search engagement performance obligation is recognized over time as our clients simultaneously receive and consume the benefits provided by the Company's performance. Revenue from executive search engagements is recognized over the expected average period of performance, in proportion to the estimated personnel time incurred to fulfill our obligations under the executive search contract. Revenue is generally recognized over a period of approximately six months. Our executive search contracts contain a replacement guarantee which provides for an additional search to be completed, free of charge except for expense reimbursements, should the candidate presented by the Company be hired by the client and subsequently terminated by the client for performance reasons within a specified period of time. The replacement guarantee is an assurance warranty, which is not a performance obligation under the terms of the executive search contract, as the Company does not provide any services under the terms of the guarantee that transfer benefits to the client in excess of assuring that the identified candidate complies with the agreed-upon specifications. The Company accounts for the replacement guarantee under the relevant warranty guidance in ASC 460 - Guarantees. Heidrick Consulting Revenue is recognized as we satisfy our performance obligations by transferring a good or service to a client. Heidrick Consulting enters into contracts with clients that outline the general terms and conditions of the assignment to provide succession planning, executive assessment, top team and board effectiveness and culture shaping programs. The consideration the Company expects to receive under each contract is generally fixed. Most of our consulting contracts contain one performance obligation, which is the overall process of providing the consulting service requested by the client. The majority of our consulting revenue is recognized over time utilizing both input and output methods. Contracts that contain coaching sessions, training sessions or the completion of assessments are recognized using the output method as each session or assessment is delivered to the client. Contracts that contain general consulting work are recognized using the input method utilizing a measure of progress that is based on time incurred on the project. The Company enters into enterprise agreements with clients to provide a license for online access, via the Company's Culture Connect platform, to training and other proprietary material related to the Company's culture shaping programs. The consideration the Company expects to receive under the terms of an enterprise agreement is comprised of a single fixed fee. Our enterprise agreements contain multiple performance obligations, the delivery of materials via Culture Connect and material rights related to options to renew enterprise agreements at a significant discount. The Company allocates the transaction price to the performance obligations in the contract on a stand-alone selling price basis. The stand-alone selling price for the initial term of the enterprise agreement is outlined in the contract and is equal to the price paid by the client for the agreement over the initial term of the contract. The stand-alone selling price for the options to renew, or material right, are not directly observable and must be estimated. This estimate is required to reflect the discount the client would obtain when exercising the option to renew, adjusted for the likelihood that the option will be exercised. The Company estimates the likelihood of renewal using a historical analysis of client renewals. Access to Culture Connect represents a right to access the Company’s intellectual property that the client simultaneously receives and consumes as the Company performs under the agreement, and therefore the Company recognizes revenue over time. Given the continuous nature of this commitment, the Company utilizes straight-line ratable revenue recognition over the estimated subscription period as the Company's clients will receive and consume the benefits from Culture Connect equally throughout the contract period. Revenue related to client renewals of enterprise agreements is recognized over the term of the renewal, which is generally twelve months. Enterprise agreements do not comprise a significant portion of the Company's revenue. Contract Balances Contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities are classified as current due to the nature of the Company's contracts, which are completed within one year. Contract assets are included within Other Current Assets on the Condensed Consolidated Balance Sheets. Unbilled receivables: Unbilled revenue represents contract assets from revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is solely dependent upon the passage of time. This amount includes revenue recognized in excess of billed executive search retainers and Heidrick Consulting fees. Contract assets: Contract assets represent revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is not solely subject to the passage of time. This amount primarily includes revenue recognized for upticks and contingent placement fees in executive search contracts. Deferred revenue: Contract liabilities consist of deferred revenue, which is equal to billings in excess of revenue recognized. The following table outlines the changes in our contract asset and liability balances at the end of and during the period: December 31, December 31, Variance Contract assets Unbilled receivables $ 7,585 $ 8,684 $ (1,099 ) Contract assets 14,672 15,291 (619 ) Total contract assets 22,257 23,975 (1,718 ) Contract liabilities Deferred revenue $ 41,267 $ 40,673 $ 594 During the year ended December 31, 2019 , we recognized revenue of $26.6 million that was included in the contract liabilities balance at the beginning of the period. The amount of revenue recognized during the year ended December 31, 2019 from performance obligations partially satisfied in previous periods as a result of changes in the estimates of variable consideration was $19.4 million . During the year ended December 31, 2018, we recognized revenue of $28.0 million that was included in the contract liabilities balance at the beginning of the period. The amount of revenue recognized during the year ended December 31, 2018, from performance obligations partially satisfied in previous periods as a result of changes in the estimates of variable consideration was $21.8 million . Each of the Company's contracts has an expected duration of one year or less. Accordingly, the Company has elected to utilize the available practical expedient related to the disclosure of the transaction price allocated to the remaining performance obligations under its contracts. The Company has also elected the available practical expedients related to adjusting for the effects of a significant financing component and the capitalization of contract acquisition costs. The Company charges and collects from its clients, sales tax and value added taxes as required by certain jurisdictions. The Company has made an accounting policy election to exclude these items from the transaction price in its contracts. |
Allowance for Doubtful Accounts
Allowance for Doubtful Accounts | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Allowance for Doubtful Accounts | The activity of the allowance for doubtful accounts for the years ended: December 31, 2019 2018 2017 Balance at January 1, $ 3,502 $ 2,534 $ 2,575 Provision charged to income 5,900 3,790 963 Write-offs (4,270 ) (2,708 ) (1,134 ) Foreign currency translation 8 (114 ) 130 Balance at December 31, $ 5,140 $ 3,502 $ 2,534 |
Property and Equipment, net
Property and Equipment, net | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, net | The components of the Company’s property and equipment are as follows: December 31, 2019 2018 Leasehold improvements $ 47,269 $ 48,455 Office furniture, fixtures and equipment 17,740 17,919 Computer equipment and software 27,531 27,063 Property and equipment, gross 92,540 93,437 Accumulated depreciation (63,890 ) (59,566 ) Property and equipment, net $ 28,650 $ 33,871 Depreciation expense for the years ended December 31, 2019 , 2018 and 2017 , was $9.5 million , $11.0 million and $10.4 million , respectively. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | 6 . Leases The Company's lease portfolio is comprised of operating leases for office space and equipment. The majority of the Company's leases include both lease and non-lease components, which the Company accounts for differently depending on the underlying class of asset. Certain of the Company's leases include one or more options to renew or terminate the lease at the Company's discretion. Generally, the renewal and termination options are not included in the right-of-use assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates the renewal and termination options and when they are reasonably certain of exercise, includes the renewal or termination option in the Company's lease term. As most of the Company's leases do not provide an implicit interest rate, the Company utilizes its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company has a centrally managed treasury function; therefore, a portfolio approach is applied in determining the incremental borrowing rate. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a fully collateralized basis over a similar term in an amount equal to the total lease payments in a similar economic environment. As of December 31, 2019, office leases have remaining lease terms that range from less than one year to 10.4 years , some of which also include options to extend or terminate the lease. Most office leases contain both fixed and variable lease payments. Variable lease costs consist primarily of rent escalations based on an established index or rate and taxes, insurance, and common area or other maintenance costs, which are paid based on actual costs incurred by the lessor. The Company has elected to utilize the available practical expedient to not separate lease and non-lease components for office leases. As of December 31, 2019, equipment leases, which are comprised of vehicle and office equipment leases, have remaining terms that range from less than one year to 4.8 years , some of which also include options to extend or terminate the lease. The Company's equipment leases do not contain variable lease payments. The Company separates the lease and non-lease components for its equipment leases. Equipment leases do not comprise a significant portion of the Company's lease portfolio. Lease cost components included within General and Administrative Expenses in our Condensed Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2019 , were as follows: Operating lease cost $ 24,928 Variable lease cost 7,932 Total lease cost $ 32,860 Rent expense, as previously defined under ASC 840, which includes the base rent, maintenance costs, operating expenses and real estate taxes, and the costs of equipment leases for the years ended December 31, 2018 , and 2017 , was $33.2 million and $32.2 million , respectively. Supplemental cash flow information related to the Company's operating leases for the year ended December 31, 2019 , was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 33,797 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 19,640 The weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31, 2019 was as follows: Weighted Average Remaining Lease Term Operating leases 4.7 years Weighted Average Discount Rate Operating leases 3.9 % The future maturities of the Company's operating lease liabilities for the years ended December 31, were as follows: Operating Lease Maturity 2020 $ 30,246 2021 27,229 2022 23,577 2023 20,555 2024 9,981 Thereafter 8,983 Total lease payments 120,571 Less: Interest (10,228 ) Present value of lease liabilities $ 110,343 The minimum future operating lease payments due in each of the next five years as recorded under ASC 840 at December 2018, were as follows: 2019 $ 34,456 2020 31,808 2021 27,381 2022 23,445 2023 20,087 Thereafter 14,448 Total $ 151,625 The Company has an obligation at the end of the lease term to return certain offices to the landlord in their original condition, which is recorded at fair value at the time the liability is incurred. The Company had $3.0 million and $2.7 million of asset retirement obligations as of December 31, 2019 and 2018 , respectively, which are recorded within Other current liabilities and Other non-current liabilities in the Consolidated Balance Sheets. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 – Quoted prices in active markets for identical assets and liabilities. • Level 2 – Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. Cash, Cash Equivalents and Marketable Securities The Company's investments in marketable debt securities, which consist of U.S. Treasury bills and commercial paper, are classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument's underlying contractual maturity date. Unrealized gains and losses on marketable debt securities classified as available-for-sale are recognized in Accumulated other comprehensive income in the Consolidated Balance Sheets until realized. The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows: Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2019 Cash $ 177,493 $ — Level 1: Money market funds 15,661 15,661 — U.S. Treasury securities 139,705 13 — 139,718 78,565 61,153 Total Level 1 155,366 13 — 155,379 94,226 61,153 Total $ 155,366 $ 13 $ — $ 155,379 $ 271,719 $ 61,153 Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2018 Cash $ 279,829 $ — Level 1: Money market funds 77 77 — Total $ — $ — $ — $ 77 $ 279,906 $ — Investments, Assets Designated for Retirement and Pension Plans and Associated Liabilities The Company has a U.S. non-qualified deferred compensation plan that consists primarily of U.S. marketable securities and mutual funds. The aggregate cost basis for these investments was $17.2 million and $14.6 million as of December 31, 2019 and December 31, 2018 , respectively. The Company also maintains a pension plan for certain current and former employees in Germany. The pensions are individually fixed Euro amounts that vary depending on the function and the eligible years of service of the employee. The Company’s investment strategy is to support its pension obligations through reinsurance contracts. The BaFin—German Federal Financial Supervisory Authority—supervises the insurance companies and the reinsurance contracts. The BaFin requires each reinsurance contract to guarantee a fixed minimum return. The Company’s pension benefits are fully reinsured by group insurance contracts with ERGO Lebensversicherung AG, and the group insurance contracts are measured in accordance with BaFin guidelines (including mortality tables and discount rates) which are considered Level 2 inputs. The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value on a recurring basis: Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2019 Level 1: U.S. non-qualified deferred compensation plan $ 25,409 $ — $ — $ 25,409 $ — $ — Level 2: Retirement and pension plan assets 15,296 1,318 13,978 — — — Pension benefit obligation (20,918 ) — — — (1,318 ) (19,600 ) Total Level 2 (5,622 ) 1,318 13,978 — (1,318 ) (19,600 ) Total $ 19,787 $ 1,318 $ 13,978 $ 25,409 $ (1,318 ) $ (19,600 ) Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2018 Level 1: U.S. non-qualified deferred compensation plan $ 19,442 $ — $ — $ 19,442 $ — $ — Level 2: Retirement and pension plan assets 16,384 1,349 15,035 — — — Pension benefit obligation (20,908 ) — — — (1,349 ) (19,559 ) Total Level 2 (4,524 ) 1,349 15,035 — (1,349 ) (19,559 ) Total $ 14,918 $ 1,349 $ 15,035 $ 19,442 $ (1,349 ) $ (19,559 ) Contingent Consideration The former owners of the entities acquired by the Company are eligible to receive additional cash consideration based on the attainment of certain operating metrics in the periods subsequent to acquisition. Contingent consideration is valued using significant inputs that are not observable in the market which are defined as Level 3 inputs pursuant to fair value measurement accounting. The Company determines the fair value of contingent consideration using discounted cash flow models. As of December 31, 2019, all contingent consideration accruals are recorded within Other current liabilities on the Consolidated Balance Sheets. The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the year ended December 31, 2019 : Acquisition Balance at December 31, 2018 $ (6,627 ) Earnout accretion (668 ) Earnout payments 3,009 Earnout adjustment (1,062 ) Foreign currency translation 70 Balance at December 31, 2019 $ (5,278 ) |
Acquisition
Acquisition | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Acquisition | 2Get Holdings Limited In September 2019, the Company acquired 2GET Holdings Limited ("2GET"), a Brazil-based provider of executive search services, and its wholly owned subsidiaries. Under the terms of the purchase agreement, the Company paid $5.2 million of initial consideration for substantially all of the outstanding equity of 2GET. The acquisition was funded with $4.1 million of existing cash at closing and $1.1 million of the Company's common stock transferred in October 2019. The common stock transferred as consideration was reissued from the Company's treasury stock. The former owners of 2GET are eligible to receive additional cash consideration, which the Company estimates to be between $5.0 million and $15.0 million , based on the achievement of certain revenue and EBITDA milestones for the period from acquisition through 2023. The additional consideration is linked to future service with the Company and is accounted for as compensation expense. The Company recorded $0.7 million of intangible assets, consisting of the trade name of $0.4 million and customer relationships of $0.3 million , $3.8 million of goodwill, and $0.7 million of net working capital. The goodwill is primarily related to the acquired workforce and strategic fit. The Company will not be able to deduct the recorded goodwill for tax purposes. Amrop A/S In January 2018, the Company acquired Amrop A/S ("Amrop"), a Denmark-based provider of executive search services for 24.3 million Danish Kroner (equivalent to $3.9 million on the acquisition date) of initial consideration which was funded from existing cash. The former owners of Amrop are expected to receive additional cash consideration based on fee revenue generated during the two-year period following the completion of the acquisition. When estimating the value of future cash consideration, the Company has accrued $5.3 million as of December 31, 2019. The Company recorded $1.7 million of intangible assets related to customer relationships and $5.5 million of goodwill. The goodwill is primarily related to the acquired workforce and strategic fit. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill The Company's goodwill by segment is as follows: December 31, 2019 December 31, 2018 Executive Search Americas $ 92,497 $ 88,410 Europe 25,579 24,924 Asia Pacific 8,755 8,758 Total Executive Search 126,831 122,092 Heidrick Consulting 36,257 36,257 Goodwill, gross 163,088 158,349 Accumulated impairment (36,257 ) (36,257 ) Goodwill, net $ 126,831 $ 122,092 Changes in the carrying amount of goodwill by segment for the years ended December 31, 2019 , 2018 , and 2017 were as follows: Executive Search Americas Europe Asia Pacific Heidrick Consulting Total Balance as of December 31, 2016 Goodwill $ 88,101 $ 19,092 $ 8,893 $ 35,758 $ 151,844 Accumulated impairment — — — — — Goodwill, net as of December 31, 2016 88,101 19,092 8,893 35,758 151,844 Philosophy IB acquisition 357 — — 7 364 Foreign currency translation 232 1,808 409 492 2,941 Impairment — — — (36,257 ) (36,257 ) Goodwill, net as of December 31, 2017 88,690 20,900 9,302 — 118,892 Amrop acquisition — 5,478 — — 5,478 Foreign currency translation (280 ) (1,454 ) (544 ) — (2,278 ) Goodwill, net as of December 31, 2018 88,410 24,924 8,758 — 122,092 2GET acquisition 3,793 — — — 3,793 Foreign currency translation 294 655 (3 ) — 946 Goodwill, net as of December 31, 2019 $ 92,497 $ 25,579 $ 8,755 $ — $ 126,831 In September 2019, the Company acquired 2GET and included $3.8 million of goodwill related to the acquisition in the Americas segment. During the 2019 fourth quarter, the Company conducted its annual goodwill impairment evaluation as of October 31, 2019 in accordance with ASU No. 2017-04, Intangibles - Goodwill and Other. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit. The impairment test is considered for each of the Company’s reporting units that has goodwill as defined in the accounting standard for goodwill and intangible assets. The Company operates four reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East) and Heidrick Consulting. As of October 31, 2019, only the Americas, Europe and Asia Pacific reporting units had recorded goodwill. During the impairment evaluation process, the Company used a discounted cash flow methodology to estimate the fair value of each of its reporting units with goodwill. The discounted cash flow approach is dependent on a number of factors, including estimates of future market growth and trends, forecasted revenue and costs, capital investments, appropriate discount rates, certain assumptions to allocate shared costs, assets and liabilities, historical and projected performance of the reporting unit and the macroeconomic conditions affecting each of the Company’s reporting units. The assumptions used in the determination of fair value were (1) a forecast of growth in the near and long term; (2) the discount rate; (3) working capital investments; and (4) other factors. Based on the results of the impairment analysis, the fair values of the Americas, Europe, and Asia Pacific reporting units exceeded their carrying values by 329% , 21% and 30% , respectively. During the twelve months ended December 31, 2017, the Company determined that the goodwill within the former Culture Shaping and Leadership Consulting reporting units was impaired, which resulted in impairment charges of $29.3 million and $6.9 million , respectively, to write off all of the goodwill associated with each of the reporting units. The impairment charges are recorded within Impairment charges in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the twelve months ended December 31, 2017. The impairments were non-cash in nature and did not affect our current liquidity, cash flows, borrowing capability or operations, nor did they impact the debt covenants under our credit agreement. Effective January 1, 2018, the Company completed its integration of the Culture Shaping and Leadership Consulting reporting units into the newly created Heidrick Consulting reporting unit. Other Intangible Assets, net The Company’s other intangible assets, net, by segment, are as follows: December 31, 2019 December 31, 2018 Executive Search Americas $ 557 $ 52 Europe 1,314 2,086 Asia Pacific 64 78 Total Executive Search 1,935 2,216 Heidrick Consulting — — Total Other Intangible Assets, Net $ 1,935 $ 2,216 In September 2019, the Company acquired 2GET and recorded customer relationships and trade name intangible assets in the Americas segment of $0.3 million and $0.4 million , respectively. During the twelve months ended December 31, 2017, the Company determined that the intangible assets within the Culture Shaping and Leadership Consulting reporting units were impaired, which resulted in impairment charges of $9.9 million and $4.6 million , respectively, to write off all intangible assets associated with each reporting unit. The impairment charges are recorded within Impairment charges in the Condensed Consolidated Statement of Comprehensive Income (Loss) for the twelve months ended December 31, 2017. The impairment charges were non-cash in nature and did not affect current liquidity, cash flows, borrowing capability or operations, nor did they impact the debt covenants under our credit agreement. The carrying amount of amortizable intangible assets and the related accumulated amortization were as follows: December 31, 2019 December 31, 2018 Weighted Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships 6.6 $ 16,302 $ (14,683 ) $ 1,619 $ 15,910 $ (13,694 ) $ 2,216 Trade name 5.0 362 (46 ) 316 — — — Total intangible assets 6.3 $ 16,664 $ (14,729 ) $ 1,935 $ 15,910 $ (13,694 ) $ 2,216 Intangible asset amortization expense for the years ended December 31, 2019 , 2018 and 2017 , was $0.9 million , $1.5 million and $4.4 million , respectively. The Company's estimated future amortization expense related to intangible assets as of December 31, 2019 for the years ended December 31st is as follows: 2020 $ 798 2021 507 2022 319 2023 188 2024 76 Thereafter 47 Total $ 1,935 |
Other Current Assets and Non-Cu
Other Current Assets and Non-Current Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Other Liabilities Disclosure [Abstract] | |
Other Non-Current Liabilities | The components of other current assets are as follows: December 31, 2019 December 31, 2018 Contract assets $ 22,257 $ 23,975 Other 5,591 5,623 Total other current assets $ 27,848 $ 29,598 The components of other non-current liabilities are as follows: December 31, 2019 December 31, 2018 Premise related costs $ 2,392 $ 15,473 Other 2,242 1,950 Total other non-current liabilities $ 4,634 $ 17,423 |
Line of Credit
Line of Credit | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Line of Credit | On October 26, 2018, the Company entered into a new Credit Agreement (the "2018 Credit Agreement") to replace the Second Amended and Restated Credit Agreement (the "Restated Credit Agreement") executed on June 30, 2015. The 2018 Credit Agreement provides the Company with a senior unsecured revolving line of credit with an aggregate commitment of $175 million , which includes a sublimit of $25 million for letters of credit, and a $10 million swingline loan sublimit. The agreement also includes a $75 million expansion feature. The 2018 Credit Agreement will mature in October 2023. Borrowings under the 2018 Credit Agreement bear interest at the Company's election of the Alternate Base Rate (as defined in the 2018 Credit Agreement) or Adjusted LIBOR (as defined in the 2018 Credit Agreement) plus a spread as determined by the Company’s leverage ratio. Borrowings under the 2018 Credit Agreement may be used for working capital, capital expenditures, Permitted Acquisitions (as defined in the 2018 Credit Agreement) and for other general purposes of the Company and its subsidiaries. The obligations under the 2018 Credit Agreement are guaranteed by certain of the Company's subsidiaries. The Company capitalized approximately $1.0 million of loan acquisition costs related to the 2018 Credit Agreement, which will be amortized over the remaining term of the agreement. Before October 26, 2018, the Company was party to its Restated Credit Agreement. The Restated Credit Agreement provided a single senior unsecured revolving line of credit with an aggregate commitment of up to $100 million , which includes a sublimit of $25 million for letters of credit, and a $50 million expansion feature (the “Replacement Facility”). Borrowings under the Restated Credit Agreement bore interest at the Company’s election of the existing Alternate Base Rate (as defined in the Restated Credit Agreement) or Adjusted LIBOR Rate (as defined in the Restated Credit Agreement) plus a spread as determined by the Company’s leverage ratio. During the three months ended March 31, 2018 , the Company borrowed $20 million under the Restated Credit Agreement and elected the Adjusted LIBOR Rate. The Company subsequently repaid $8 million during the three months ended March 31, 2018 and $12 million during the three months ended June 30, 2018. During the three months ended March 31, 2017, the Company borrowed $40 million under the Restated Credit Agreement and elected the Adjusted LIBOR rate. The Company subsequently repaid $15 million during the three months ended March 31, 2017 and $25 million during the three months ended June 30, 2017. As of December 31, 2019 , and 2018 , the Company had no outstanding borrowings under the 2018 Credit Agreement. The Company was in compliance with the financial and other covenants under the 2018 Credit Agreement and no event of default existed. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plans | Qualified Retirement Plan The Company has a defined contribution retirement plan (the “Plan”) for all eligible employees in the United States. Eligible employees may begin participating in the Plan upon their hire date. The Plan contains a 401(k) provision, which provides for employee pre-tax and/or after-tax contributions, from 1% to 50% of their eligible compensation up to a combined maximum permitted by law. The Company matched employee contributions on a dollar-for-dollar basis per participant up to the greater of $6,000 , or 6.0% , of eligible compensation for the years ended December 31, 2019 , 2018 and 2017 . Employees are eligible for the Company match immediately provided that they are working on the last day of the Plan year in which the match is made. The Plan also provides for employees who retire, die or become disabled during the Plan year to receive the Company match for that Plan year. The Plan provides that forfeitures will be used to reduce the Company’s contributions. Forfeitures are created annually by participants who terminate employment before becoming entitled to the Company’s matching contribution under the Plan. The Company also has the option of making discretionary contributions. There were no discretionary contributions made for the years ended December 31, 2019 , 2018 and 2017 . The expense that the Company incurred for matching employee contributions for the years ended December 31, 2019 , 2018 and 2017 , was $6.3 million , $5.7 million and $5.6 million , respectively. Deferred Compensation Plans The Company has a deferred compensation plan for certain U.S. employees (the “U.S. Plan”) that became effective on January 1, 2006. The U.S. Plan allows participants to defer up to 25% of their base compensation and up to the lesser of $500,000 or 25% of their eligible bonus compensation into several different investment vehicles. These deferrals are immediately vested and are not subject to a risk of forfeiture. In 2019 and 2018 , all deferrals in the U.S. Plan were funded. The compensation deferred in the U.S. Plan was $23.8 million and $18.3 million at December 31, 2019 and 2018 , respectively. The assets of the U.S. Plan are included in Investments and the liabilities of the U.S. Plan are included in Retirement and pension plans in the Consolidated Balance Sheets as of December 31, 2019 and 2018 . The Company has a Non-Employee Directors Voluntary Deferred Compensation Plan whereby non-employee members of the Company’s Board of Directors may elect to defer up to 100% of the cash component of their directors’ fees into several different investment vehicles. As of December 31, 2019 and 2018 , the total amounts deferred under the plan were $1.6 million and $1.1 million , respectively, all of which were funded. The assets of the plan are included in Investments and the liabilities of the plan are included in Retirement and pension plans in the Consolidated Balance Sheets at December 31, 2019 and 2018 . The U.S. and Non-Employee Directors Voluntary Deferred Compensation Plans consist primarily of marketable securities and mutual funds, all of which are valued using Level 1 inputs (See Note 7 , Financial Instruments and Fair Value ). |
Pension Plan and Life Insurance
Pension Plan and Life Insurance Contract Pension Plan and Life Insurance Contract | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | The Company maintains a pension plan for certain current and former employees in Germany. The pensions are individually fixed Euro amounts that vary depending on the function and the eligible years of service of the employee. 2019 2018 Benefit obligation at January 1, $ 20,908 $ 23,886 Interest cost 338 373 Actuarial (gain) loss 1,506 (886 ) Benefits paid (1,375 ) (1,450 ) Cumulative translation adjustment (459 ) (1,015 ) Benefit obligation at December 31, $ 20,918 $ 20,908 The benefit obligation amounts recognized in the Consolidated Balance Sheets are as follows: December 31, 2019 2018 Current liabilities $ 1,318 $ 1,349 Noncurrent liabilities 19,600 19,559 Total $ 20,918 $ 20,908 The components of and assumptions used to determine the net periodic benefit cost are as follows: December 31, 2019 2018 2017 Net period benefit cost: Interest cost $ 338 $ 373 $ 362 Amortization of net loss 35 92 111 Net periodic benefit cost $ 373 $ 465 $ 473 Weighted average assumptions Discount rate (1) 1.71 % 1.64 % 1.49 % Rate of compensation increase — % — % — % Assumptions to determine the Company’s benefit obligation are as follows: December 31, 2019 2018 2017 Discount rate (1) 1.03 % 1.71 % 1.64 % Rate of compensation increase — % — % — % Measurement Date 12/31/2019 12/31/2018 12/31/2017 (1) The discount rates are based on long-term bond indices adjusted to reflect the longer duration of the benefit obligation. The amounts in Accumulated other comprehensive income as of December 31, 2019 and 2018 , that had not yet been recognized as components of net periodic benefit cost were $4.0 million and $2.6 million , respectively. The Company’s investment strategy is to support its pension obligations through reinsurance contracts. The BaFin—German Federal Financial Supervisory Authority—supervises the insurance companies and the reinsurance contracts. The BaFin requires each reinsurance contract to guarantee a fixed minimum return. The Company’s pension benefits are fully reinsured by group insurance contracts with ERGO Lebensversicherung AG, and the group insurance contracts are measured in accordance with BaFin guidelines (including mortality tables and discount rates) which are considered Level 2 inputs (See Note 7 , Financial Instruments and Fair Value ). The fair value at December 31, 2019 and 2018 , was $15.3 million and $16.4 million , respectively. Since the pension assets are not segregated in trust from the Company’s other assets, the pension assets are not shown as an offset against the pension liabilities in the Consolidated Balance Sheets. These assets are included in the Consolidated Balance Sheets at December 31, 2019 and 2018 , as a component of Other current assets and Assets designated for retirement and pension plans . The benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter are as follows: 2020 $ 1,318 2021 1,305 2022 1,288 2023 1,269 2024 1,245 2025 through 2029 5,713 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | The Company's Second Amended and Restated 2012 Heidrick & Struggles GlobalShare Program (the "2012 Program') provides for grants of stock options, stock appreciation rights and other stock-based awards that are valued based upon the grant date fair value of shares. These awards may be granted to directors, selected employees and independent contractors. As of December 31, 2019 , 2,551,441 shares have been issued under the 2012 Program and 981,682 shares remain available for future awards, which includes 683,123 forfeited shares. The 2012 Program provides that no awards can be granted after May 24, 2028 . In September 2017, the Company entered into an agreement with its former Chief Executive Officer pursuant to which Mr. Wolstencroft voluntarily agreed, with the concurrence of the Board of Directors, to forfeit 100 percent of his 2017 restricted stock unit and performance stock unit grants totaling 39,352 restricted stock units and 39,352 performance stock units. Mr. Wolstencroft vested in 41,667 restricted stock units, or 100 percent of his 2014 sign-on restricted stock unit grant, without proration. With respect to his 2015 and 2016 restricted stock unit and performance stock unit grants, Mr. Wolstencroft vested an agreed upon pro-rata portion of the tranches scheduled to vest in 2017 through 2019 (and with the performance goals for performance stock units deemed to have been achieved at target level performance) totaling 9,948 restricted stock units and 50,007 performance stock units, and he agreed to forfeit the remaining portions of such 2015 and 2016 restricted stock unit and performance stock unit awards totaling 28,903 restricted stock units and 26,246 performance stock units. The Company measures its stock-based compensation costs based on the grant date fair value of the awards and recognizes these costs in the financial statements over the requisite service period. A summary of information with respect to stock-based compensation is as follows: December 31, 2019 2018 2017 Salaries and employee benefits (1) $ 12,857 $ 9,548 $ 4,597 General and administrative expenses 460 562 338 Income tax benefit related to stock-based compensation included in net income 3,529 2,674 1,948 (1) Includes $3.0 million and $1.2 million of expense related to cash settled restricted stock units for the years ended December 31, 2019 , and 2018 , respectively. Restricted Stock Units Restricted stock units are generally subject to ratable vesting over a three -year period. Beginning in 2018, a portion of the Company's restricted stock units are subject to ratable vesting over a four -year period. Compensation expense related to service-based restricted stock units is recognized on a straight-line basis over the vesting period. Restricted stock unit activity for the years ended December 31, 2019 , 2018 and 2017 is as follows: Number of Weighted- Outstanding on December 31, 2017 491,154 $ 21.92 Granted 297,664 34.64 Vested and converted to common stock (199,550 ) 21.66 Forfeited (76,822 ) 25.76 Outstanding on December 31, 2018 512,446 28.83 Granted 270,488 33.55 Vested and converted to common stock (175,792 ) 24.19 Forfeited (8,154 ) 34.29 Outstanding on December 31, 2019 598,988 $ 32.25 As of December 31, 2019 , there was $11.4 million of pre-tax unrecognized compensation expense related to unvested restricted stock units, which is expected to be recognized over a weighted average of 2.5 years . Performance Stock Units The Company grants performance stock units to certain of its senior executives. The performance stock units are generally subject to a cliff vesting at the end of a three -year period. The vesting will vary between 0% - 200% based on the attainment of operating income goals over the three -year vesting period. The performance stock units are expensed on a straight-line basis over the three -year vesting period. During the year ended December 31, 2019 , performance stock units were granted to certain employees of the Company, subject to a cliff vesting period of three years and certain other performance conditions. Half of award is based on the achievement of certain operating margin thresholds and half of the award is based on the Company's total shareholder return, relative to a peer group. The fair value of the awards based on total shareholder return was determined using the Monte-Carlo simulation model. A Monte Carlo simulation model uses stock price volatility and other variables to estimate the probability of satisfying the performance conditions and the resulting fair value of the award. Performance share unit activity for the years ended December 31, 2019 , 2018 and 2017 was as follows: Number of Weighted- Outstanding on December 31, 2017 185,891 $ 23.82 Granted 102,138 25.81 Vested and converted to common stock (43,361 ) 23.64 Forfeited (47,551 ) 23.87 Outstanding on December 31, 2018 197,117 24.88 Granted 81,661 35.58 Vested and converted to common stock (99,219 ) 25.04 Forfeited — — Outstanding on December 31, 2019 179,559 $ 32.63 As of December 31, 2019 , there was $3.4 million of pre-tax unrecognized compensation expense related to unvested performance stock units, which is expected to be recognized over a weighted average of 1.8 years . Phantom Stock Units Phantom stock units are grants of phantom stock with respect to shares of the Company's common stock that are settled in cash and are subject to various restrictions, including restrictions on transferability, vesting and forfeiture provisions. Shares of phantom stock that do not vest for any reason will be forfeited by the recipient and will revert to the Company. Phantom stock units are subject to vesting over a period of four years and certain other conditions, including continued service to the Company. As a result of the cash-settlement feature of the awards, the Company considers the awards to be liability awards, which are measured at fair value at each reporting date and the vested portion of the award is recognized as a liability to the extent that the service condition is deemed probable. The fair value of the phantom stock awards on the balance sheet date was determined using the closing share price of the Company's common stock on that date and is included within Accrued salaries and benefits - non-current on the Consolidated Balance Sheets. The Company recorded phantom stock-based compensation expense of $3.0 million and $1.2 million for the years ended December 31, 2019 and December 31, 2018, respectively. Phantom stock unit activity for the years ended December 31, 2019 , 2018, and 2017 was as follows: Number of Stock Units Outstanding on December 31, 2017 — Granted 111,673 Vested — Forfeited — Outstanding on December 31, 2018 111,673 Granted 154,387 Vested — Forfeited — Outstanding on December 31, 2019 266,060 As of December 31, 2019 , there was $5.2 million of pre-tax unrecognized compensation expense related to unvested phantom stock units, which is expected to be recognized over a weighted average of 3.3 years . |
Restructuring (Notes)
Restructuring (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Activities Disclosure [Text Block] | Restructuring Charges During the year ended December 31, 2019 , the Company recorded restructuring charges of $4.1 million related to the closing of the Company's legacy Brazil operations due to the acquisition of 2GET (see Note 8 , Acquisitions ). The restructuring charges primarily consist of employee-related costs for the Company's legacy Brazil operations. The America's incurred $4.1 million in restructuring charges, while Global Operations Support incurred less than $0.1 million in restructuring charges. In 2017, the Company recorded restructuring charges of $15.7 million in connection with initiatives to reduce overall costs and improve operational efficiencies. The primary components of the restructuring included: the elimination of two executive officer roles for a flatter leadership structure, a workforce reduction as the firm aligned its support resources to better meet operational needs and recognize synergies with the combination of Leadership Consulting and Culture Shaping, a reduction of the firm’s real estate expenses and support costs by consolidating or closing three of its locations across its global footprint and the acceleration of future expenses under certain contractual obligations. These charges consisted of $13.1 million of employee-related costs, including severance associated with reductions in our workforce of 251 employees globally, $2.3 million of other professional and consulting fees and $0.3 million of expenses associated with closing three office locations. Restructuring charges by operating segment for the years ended December 31, were as follows: December 31, 2019 2018 2017 Executive Search Americas $ 4,102 $ — $ 784 Europe — — 3,993 Asia Pacific — — 2,046 Total Executive Search 4,102 — 6,823 Heidrick Consulting — — 3,393 Global Operations Support 28 — 5,450 Total restructuring $ 4,130 $ — $ 15,666 Changes in the restructuring accrual for the years ended December 31, 2019 , 2018 , and 2017 were as follows: Employee Related Office Related Other Total Accrual balance at December 31, 2016 $ — $ — $ — $ — Restructuring charges 13,065 308 2,293 15,666 Cash payments (1,199 ) (5 ) (1,282 ) (2,486 ) Non-cash write-offs — (155 ) — (155 ) Accrual balance at December 31, 2017 11,866 148 1,011 13,025 Cash payments (8,689 ) (248 ) (993 ) (9,930 ) Non-cash write-offs — 195 — 195 Other (1,843 ) (95 ) 5 (1,933 ) Exchange rate fluctuations (65 ) — (6 ) (71 ) Accrual balance at December 31, 2018 1,269 — 17 1,286 Restructuring charges 4,130 — — 4,130 Cash payments (2,213 ) — — (2,213 ) Non-cash write-offs — — (17 ) (17 ) Other 4 — — 4 Exchange rate fluctuations 55 — — 55 Accrual balance at December 31, 2019 $ 3,245 $ — $ — $ 3,245 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | The sources of income (loss) before income taxes are as follows: December 31, 2019 2018 2017 United States $ 53,461 $ 47,191 $ (28,577 ) Foreign 15,828 23,301 (841 ) Income (loss) before income taxes $ 69,289 $ 70,492 $ (29,418 ) The provision for (benefit from) income taxes are as follows: December 31, 2019 2018 2017 Current Federal $ 11,311 $ 12,311 $ 10,107 State and local 4,422 4,843 2,372 Foreign 4,423 6,907 8,257 Current provision for income taxes 20,156 24,061 20,736 Deferred Federal 2,031 6,403 5,642 State and local 698 (354 ) (2,951 ) Foreign (465 ) (8,913 ) (4,210 ) Deferred provision (benefit) for income taxes 2,264 (2,864 ) (1,519 ) Total provision for income taxes $ 22,420 $ 21,197 $ 19,217 A reconciliation of the provision for income taxes to income taxes at the statutory U.S. federal income tax rate of 21% for the years ended December 31, 2019 and 2018, and 35% for the year ended December 31, 2017 is as follows: December 31, 2019 2018 2017 Income tax provision (benefit) at the statutory U.S. federal rate $ 14,551 $ 14,803 $ (10,296 ) State income tax provision (benefit), net of federal tax benefit 3,509 3,242 (593 ) Nondeductible expenses, net 1,570 1,651 3,282 Foreign taxes (includes rate differential and changes in foreign valuation allowance) 698 (35 ) 5,465 Release of valuation allowance (117 ) (43 ) (3,200 ) Additional U.S. tax on foreign operations 2,550 1,628 — Current/deferred true-up (157 ) (1,199 ) 567 Tax reform — — 23,732 Other, net (184 ) 1,150 260 Total provision for income taxes $ 22,420 $ 21,197 $ 19,217 The deferred tax assets and liabilities are attributable to the following components: December 31, 2019 2018 Deferred tax assets attributable to: Foreign net operating loss carryforwards $ 17,940 $ 18,259 Accrued compensation and employee benefits 14,506 15,442 Deferred compensation 17,110 15,587 Foreign tax credit carryforwards 6,493 8,163 Accrued rent 2,655 3,096 Other accrued expenses 5,882 6,290 Deferred tax assets, before valuation allowance 64,586 66,837 Valuation allowance (24,200 ) (26,460 ) Deferred tax assets, after valuation allowance 40,386 40,377 Deferred tax liabilities attributable to: Goodwill 5,440 2,203 Taxes provided on unremitted earnings — 765 Depreciation on property and equipment 1,652 2,040 Other 533 686 Deferred tax liabilities 7,625 5,694 Net deferred tax assets $ 32,761 $ 34,683 The recognition of deferred tax assets is based on management’s belief that it is more likely than not that the tax benefits associated with temporary differences, net operating loss carryforwards and tax credits will be utilized. The Company assesses the recoverability of the deferred tax assets on an ongoing basis. In making this assessment, the Company considers all positive and negative evidence, and all potential sources of taxable income including scheduled reversals of deferred tax liabilities, tax-planning strategies, projected future taxable income and recent financial performance. Certain of the Company's deferred tax liabilities of $0.3 million and $0.2 million do not qualify for deferred tax netting and are included in Other non-current liabilities on the Consolidated Balance Sheets at December 31, 2019 and 2018, respectively. The valuation allowance decreased from $26.5 million at December 31, 2018 to $24.2 million at December 31, 2019 . The valuation allowance at December 31, 2019 was related to foreign net operating loss carryforwards, foreign tax credit carryforwards, and certain foreign deferred tax assets. The Company intends to maintain these valuation allowances until sufficient evidence exists to support their reversal. At December 31, 2019 , the Company had a net operating loss carryforward of $116.1 million related to its foreign tax filings. Of the $116.1 million net operating loss carryforward, $76.9 million is subject to a valuation allowance. Depending on the tax rules of the tax jurisdictions, the losses can be carried forward indefinitely or for periods ranging from five to twenty years. The Company also has a foreign tax credit carryforward of $6.5 million subject to a valuation allowance of $6.5 million . At December 31, 2018 , the Company had a net operating loss carryforward of $118.0 million related to its foreign tax filings. Of the $118.0 million net operating loss carryforward, $59.8 million is subject to a valuation allowance. Depending on the tax rules of the tax jurisdictions, the losses can be carried forward indefinitely or for periods ranging from five to twenty years. The Company also has a foreign tax credit carryforward of $8.2 million subject to a valuation allowance of $8.2 million . As of December 31, 2018 , the Company had $1.1 million of unrecognized tax benefits. As of December 31, 2019 , the Company had $0.1 million of unrecognized tax benefits of which, if recognized, would be recorded as a component of income tax expense. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: December 31, 2019 2018 2017 Gross unrecognized tax benefits at January 1, $ 1,128 $ 740 $ 1,038 Gross increases for tax positions of prior years 389 608 167 Gross decreases for tax positions of prior years (377 ) — — Settlements (1,010 ) (220 ) (465 ) Lapse of statute of limitations — — — Gross unrecognized tax benefits at December 31, $ 130 $ 1,128 $ 740 In many cases the Company’s uncertain tax positions are related to tax years that remain subject to examination by the relevant taxable authorities. Years 2016 through 2018 are subject to examination by the state taxing authorities. The years 2016 through 2018 are subject to examination by the federal taxing authority. There are certain foreign jurisdictions that are subject to examination for years prior to 2016. The Company is currently under audit by some jurisdictions. It is likely that the examination phase of several of these audits will conclude in the next twelve months. No significant increases or decreases in unrecognized tax benefits are expected to occur by December 31, 2020 . Estimated interest and penalties related to the underpayment of income taxes are classified as a component of the provision for income taxes in the Consolidated Statements of Comprehensive Income (Loss). Accrued interest and penalties are less than $0.1 million as of December 31, 2019 . The “Tax Cuts and Jobs Act” was enacted in December 22, 2017. The Tax Act included a territorial tax system, beginning in 2018, and it included two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The Global Intangible Low-Taxed Income ("GILTI") provisions require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company became subject to incremental U.S. tax on GILTI income beginning in 2018 due to expense allocations required by the U.S. foreign tax credit rules. The Company has elected to account for GILTI tax in the period in which it is incurred, and therefore has not provided any deferred tax impacts of GILTI in its consolidated financial statements for the year ended December 31, 2019 . The Base Erosion and Anti-Abuse Tax ("BEAT") provisions in the Tax Reform Act eliminates the deduction of certain base-erosion payments made to related foreign corporations and impose a minimum tax if greater than regular tax. The Company does not expect it will be subject to this tax and therefore has not included any tax impacts of BEAT in its consolidated financial statements for the year ended December 31, 2019 . |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Changes in Accumulated Other Comprehensive Income | The changes in Accumulated other comprehensive income (“AOCI”) by component for the year ended December 31, 2019 , are summarized below: Available- Foreign Pension AOCI Balance at December 31, 2018 $ — $ 5,258 $ (1,196 ) $ 4,062 Other comprehensive income before classification, net of tax 13 844 (1,095 ) (238 ) Balance at December 31, 2019 $ 13 $ 6,102 $ (2,291 ) $ 3,824 |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | In 2018, the Company completed the integration of its Leadership Consulting and Culture Shaping businesses into one combined service offering, Heidrick Consulting. In conjunction with the integration, the Company reorganized its Management Committee, which the Company considers to be its chief operating decision maker, so as to regularly assess performance and make resource allocations decisions for the Heidrick Consulting business. Therefore, the Company now reports Leadership Consulting and Culture Shaping as one operating segment, Heidrick Consulting. In conjunction with the change in operating segments, the Company modified its corporate cost allocation methodology. Previously reported operating segment results for the twelve months ended December 31, 2017, have been recast to conform to the new operating segment structure and corporate cost allocation methodology. The Company has four operating segments. The executive search business operates in the Americas, Europe (which includes Africa) and Asia Pacific (which includes the Middle East), and the Heidrick Consulting business operates globally. For segment purposes, reimbursements of out-of-pocket expenses classified as revenue and other operating income are reported separately and, therefore, are not included in the results of each segment. The Company believes that analyzing trends in revenue before reimbursements (net revenue), analyzing operating expenses as a percentage of net revenue, and analyzing operating income (loss) more appropriately reflects its core operations. The revenue, operating income, depreciation and amortization, and capital expenditures, by segment, were as follows: December 31, 2019 2018 2017 Revenue Executive Search Americas $ 415,455 $ 405,267 $ 339,793 Europe 135,070 145,348 125,346 Asia Pacific 95,827 102,276 86,905 Total Executive Search 646,352 652,891 552,044 Heidrick Consulting 60,572 63,132 69,356 Revenue before reimbursements 706,924 716,023 621,400 Reimbursements 18,690 19,632 18,656 Total revenue $ 725,614 $ 735,655 $ 640,056 Operating income (loss) Executive Search Americas (1) $ 100,833 $ 96,880 $ 75,337 Europe (2) 3,026 5,849 13 Asia Pacific (3) 13,590 15,999 537 Total Executive Search 117,449 118,728 75,887 Heidrick Consulting (4) (18,499 ) (13,619 ) (62,368 ) Total segments 98,950 105,109 13,519 Global Operations Support (5) (35,439 ) (36,252 ) (40,042 ) Total operating income (loss) $ 63,511 $ 68,857 $ (26,523 ) Depreciation and amortization Executive Search Americas $ 4,204 $ 4,605 $ 4,794 Europe 2,784 3,735 3,328 Asia Pacific 1,472 1,646 1,565 Total Executive Search 8,460 9,986 9,687 Heidrick Consulting 1,079 1,577 4,099 Total segments 9,539 11,563 13,786 Global Operations Support 832 959 988 Total depreciation and amortization $ 10,371 $ 12,522 $ 14,774 Capital expenditures Executive Search Americas $ 1,121 $ 601 $ 7,123 Europe 1,070 3,557 1,460 Asia Pacific 295 440 2,633 Total Executive Search 2,486 4,598 11,216 Heidrick Consulting 541 581 1,172 Total segments 3,027 5,179 12,388 Global Operations Support 325 1,006 3,298 Total capital expenditures $ 3,352 $ 6,185 $ 15,686 (1) Operating income for the Americas includes restructuring charges of $4.1 million in 2019 and $0.8 million in 2017. (2) Operating income for Europe includes restructuring charges of $4.0 million in 2017. (3) Operating income for Asia Pacific includes restructuring charges of $2.0 million in 2017. (4) Operating loss for Heidrick Consulting includes impairment charges of $50.7 million and restructuring charges of $3.4 million in 2017. (5) Operating loss for Global Operations Support includes restructuring charges of less than $0.1 million in 2019 and $5.5 million in 2017. Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows: December 31, 2019 2018 Current assets Executive Search Americas $ 286,818 $ 255,889 Europe 96,230 85,355 Asia Pacific 78,967 74,169 Total Executive Search 462,015 415,413 Heidrick Consulting 30,628 34,174 Total segments 492,643 449,587 Global Operations Support 1,839 1,280 Total allocated current assets 494,482 450,867 Unallocated non-current assets 220,925 125,454 Goodwill and other intangible assets, net Executive Search Americas 93,054 88,462 Europe 26,893 27,010 Asia Pacific 8,819 8,836 Total Executive Search 128,766 124,308 Heidrick Consulting — — Total goodwill and other intangible assets, net 128,766 124,308 Total assets $ 844,173 $ 700,629 |
Guarantees
Guarantees | 12 Months Ended |
Dec. 31, 2019 | |
Guarantees [Abstract] | |
Guarantees | The Company has utilized letters of credit to support certain obligations, primarily the payment of office lease obligations and business license requirements for certain of its subsidiaries in Europe and Asia Pacific. The letters of credit were made to secure the respective agreements and are for the terms of the agreements, which extend through 2030 . For each letter of credit issued, the Company would have to use cash to fulfill the obligation if the subsidiary defaults on a lease payment. The maximum amount of undiscounted payments the Company would be required to make in the event of default on all outstanding letters of credit was approximately $2.5 million as of December 31, 2019 . The Company has not accrued for these arrangements as no event of default exists or is expected to exist. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Litigation The Company has contingent liabilities from various pending claims and litigation matters arising in the ordinary course of the Company’s business, some of which involve claims for damages that are substantial in amount. Some of these matters are covered by insurance. Based upon information currently available, the Company believes the ultimate resolution of such claims and litigation will not have a material adverse effect on its financial condition, results of operations or liquidity. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Reclassifications [Line Items] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue is recognized as we satisfy our performance obligations by transferring a good or service to a client. Generally, each of our executive search contracts contain one performance obligation which is the process of identifying potentially qualified candidates for a specific client position. In most contracts, the transaction price includes both fixed and variable consideration. Fixed compensation is comprised of a retainer, equal to approximately one-third of the estimated first year compensation for the position to be filled, and indirect expenses, equal to a specified percentage of the retainer, as defined in the contract. The Company generally bills its clients for its retainer and indirect expenses in one-third increments over a three-month period commencing in the month of a client’s acceptance of the contract. If actual compensation of a placed candidate exceeds the original compensation estimate, the Company is often authorized to bill the client for one-third of the excess compensation. The Company refers to this additional billing as uptick revenue. In most contracts, variable consideration is comprised of uptick revenue and direct expenses. The Company bills its clients for uptick revenue upon completion of the executive search, and direct expenses are billed as incurred. As required under ASU No. 2014-09, the Company now estimates uptick revenue at contract inception, based on a portfolio approach, utilizing the expected value method based on a historical analysis of uptick revenue realized in the Company’s geographic regions and industry practices, and initially records a contract’s uptick revenue in an amount that is probable not to result in a significant reversal of cumulative revenue recognized when the actual amount of uptick revenue for that contract is known. Differences between the estimated and actual amounts of variable consideration are recorded when known. The Company does not estimate revenue for direct expenses as it is not materially different than recognizing revenue as direct expenses are incurred. Revenue from our executive search engagement performance obligation is recognized over time as our clients simultaneously receive and consume the benefits provided by the Company's performance. Revenue from executive search engagements is recognized over the expected average period of performance, in proportion to the estimated personnel time incurred to fulfill our obligations under the executive search contract. Revenue is generally recognized over a period of approximately six months. Our executive search contracts contain a replacement guarantee which provides for an additional search to be completed, free of charge except for expense reimbursements, should the candidate presented by the Company be hired by the client and subsequently terminated by the client for performance reasons within a specified period of time. The replacement guarantee is an assurance warranty, which is not a performance obligation under the terms of the executive search contract, as the Company does not provide any services under the terms of the guarantee that transfer benefits to the client in excess of assuring that the identified candidate complies with the agreed-upon specifications. The Company accounts for the replacement guarantee under the relevant warranty guidance in ASC 460 - Guarantees. Heidrick Consulting Revenue is recognized as we satisfy our performance obligations by transferring a good or service to a client. Heidrick Consulting enters into contracts with clients that outline the general terms and conditions of the assignment to provide succession planning, executive assessment, top team and board effectiveness and culture shaping programs. The consideration the Company expects to receive under each contract is generally fixed. Most of our consulting contracts contain one performance obligation, which is the overall process of providing the consulting service requested by the client. The majority of our consulting revenue is recognized over time utilizing both input and output methods. Contracts that contain coaching sessions, training sessions or the completion of assessments are recognized using the output method as each session or assessment is delivered to the client. Contracts that contain general consulting work are recognized using the input method utilizing a measure of progress that is based on time incurred on the project. The Company enters into enterprise agreements with clients to provide a license for online access, via the Company's Culture Connect platform, to training and other proprietary material related to the Company's culture shaping programs. The consideration the Company expects to receive under the terms of an enterprise agreement is comprised of a single fixed fee. Our enterprise agreements contain multiple performance obligations, the delivery of materials via Culture Connect and material rights related to options to renew enterprise agreements at a significant discount. The Company allocates the transaction price to the performance obligations in the contract on a stand-alone selling price basis. The stand-alone selling price for the initial term of the enterprise agreement is outlined in the contract and is equal to the price paid by the client for the agreement over the initial term of the contract. The stand-alone selling price for the options to renew, or material right, are not directly observable and must be estimated. This estimate is required to reflect the discount the client would obtain when exercising the option to renew, adjusted for the likelihood that the option will be exercised. The Company estimates the likelihood of renewal using a historical analysis of client renewals. Access to Culture Connect represents a right to access the Company’s intellectual property that the client simultaneously receives and consumes as the Company performs under the agreement, and therefore the Company recognizes revenue over time. Given the continuous nature of this commitment, the Company utilizes straight-line ratable revenue recognition over the estimated subscription period as the Company's clients will receive and consume the benefits from Culture Connect equally throughout the contract period. Revenue related to client renewals of enterprise agreements is recognized over the term of the renewal, which is generally twelve months. Enterprise agreements do not comprise a significant portion of the Company's revenue. Contract Balances Contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities are classified as current due to the nature of the Company's contracts, which are completed within one year. Contract assets are included within Other Current Assets on the Condensed Consolidated Balance Sheets. Unbilled receivables: Unbilled revenue represents contract assets from revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is solely dependent upon the passage of time. This amount includes revenue recognized in excess of billed executive search retainers and Heidrick Consulting fees. Contract assets: Contract assets represent revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is not solely subject to the passage of time. This amount primarily includes revenue recognized for upticks and contingent placement fees in executive search contracts. Deferred revenue: Contract liabilities consist of deferred revenue, which is equal to billings in excess of revenue recognized. |
Marketable Securities, Policy [Policy Text Block] | Marketable Securities The Company’s marketable securities consist of available-for-sale debt securities with original maturities exceeding three months. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. |
Concentration of Risk | Concentration of Risk The Company is potentially exposed to concentrations of risk associated with its accounts receivable. However, this risk is limited due to the Company’s large number of clients and their dispersion across many different industries and geographies. At December 31, 2019 and 2018 , the Company had no significant concentrations of risk. |
Accounts Receivable | Accounts Receivable The Company’s accounts receivable consists of trade receivables. The allowance for doubtful accounts is developed based upon several factors including the age of the Company’s accounts receivable, historical write-off experience and specific account analysis. These factors may change over time, impacting the allowance level. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Cash equivalents are stated at cost, which approximates fair value. The carrying value for receivables from clients, accounts payable, deferred revenue and other accrued liabilities reasonably approximate fair value due to the nature of the financial instruments and the short-term nature of the items. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. |
Long-lived Assets | Long-lived Assets The Company reviews its long-lived assets, including property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset exceeds the fair value of the asset, is recognized. |
Investments | Investments The Company’s investments consist primarily of available-for-sale investments within the U.S. non-qualified deferred compensation plan (the “Plan”). Available-for-sale investments are reported at fair value with changes in unrealized gains (losses) and realized gains (losses) recorded as a non-operating expense in Other, net in the Consolidated Statements of Comprehensive Income (Loss). |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the difference between the purchase price of acquired companies and the related fair value of the net assets acquired, which is accounted for by the acquisition method of accounting. Other intangible assets include client relationships, trade names, and employee non-compete agreements. The Company performs assessments of the carrying value of goodwill at least annually and of its goodwill and other intangible assets whenever events occur or circumstances indicate that a carrying amount of these assets may not be recoverable. These circumstances include a significant change in business climate, attrition of key personnel, changes in financial condition or results of operations, a prolonged decline in the Company’s stock price and market capitalization, competition, and other factors. The goodwill impairment test compares the fair value of a reporting unit to its carrying amount, including goodwill. The Company operates four reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East) and Heidrick Consulting. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. The fair value of each of the Company’s reporting units is determined using a discounted cash flow methodology. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit. The other intangible asset impairment review compares the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset exceeds the fair value, is recognized. Other intangible assets acquired are amortized either using the straight-line method over their estimated useful lives or based on the projected cash flow associated with the respective intangible assets. |
Restructuring Charges | Restructuring Charges The Company accounts for restructuring charges by recognizing a liability at fair value when the costs are incurred. |
Reimbursements | Reimbursements The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue and expense in its Consolidated Statements of Comprehensive Income (Loss). |
Salaries and Employee Benefits | Salaries and Benefits Salaries and benefits consist of compensation and benefits paid to consultants, executive officers, and administrative and support personnel, of which the most significant elements are salaries and annual performance-related bonuses. Other items in this category are expenses related to sign-on bonuses, forgivable employee loans and minimum guaranteed bonuses (often incurred in connection with the hiring of new consultants), restricted stock unit and performance share unit amortization, payroll taxes, profit sharing and retirement benefits, and employee insurance benefits. Salaries and benefits are recognized on an accrual basis. Certain sign-on bonuses, retention awards, and minimum guaranteed compensation are capitalized and amortized in accordance with the terms of the respective agreements. A portion of the Company’s consultants’ and management cash bonuses are deferred and paid over a three -year vesting period. The portion of the bonus is approximately 15% depending on the employee’s level or position. The compensation expense related to the amounts being deferred is recognized on a graded vesting attribution method over the requisite service period. This service period begins on January 1 of the respective fiscal year and continues through the deferral date, which coincides with the Company’s bonus payments in the first quarter of the following year and for an additional three -year vesting period. The deferrals are recorded in Accrued salaries and benefits within both Current liabilities and Non-current liabilities in the Consolidated Balance Sheets. |
Income Taxes | Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities, applying enacted statutory tax rates in effect for the year in which the tax differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Earnings per Common Share | Earnings per Common Share Basic earnings per common share is computed by dividing net income (loss) by weighted average common shares outstanding for the year. Diluted earnings (loss) per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Common equivalent shares are excluded from the determination of diluted earnings per share in periods in which they have an anti-dilutive effect. The following table sets forth the computation of basic and diluted earnings (loss) per share: December 31, 2019 2018 2017 Net income (loss) $ 46,869 $ 49,295 $ (48,635 ) Weighted average shares outstanding: Basic 19,103 18,917 18,735 Effect of dilutive securities: Restricted stock units 285 406 — Performance stock units 163 209 — Diluted 19,551 19,532 18,735 Basic earnings (loss) per share $ 2.45 $ 2.61 $ (2.60 ) Diluted earnings (loss) per share $ 2.40 $ 2.52 $ (2.60 ) Weighted average restricted stock units and performance stock units outstanding that could be converted into approximately 327,000 and 80,000 common shares, respectively, for the year ended December 31, 2017 , were not included in the computation of diluted loss per share because the effects would be anti-dilutive. |
Translation of Foreign Currencies | Translation of Foreign Currencies The Company generally designates the local currency for all its subsidiaries as the functional currency. The Company translates the assets and liabilities of its subsidiaries into U.S. dollars at the current rate of exchange prevailing at the balance sheet date. Revenue and expenses are translated at a monthly average exchange rate for the period. Translation adjustments are reported as a component of Accumulated other comprehensive income . |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Historically, the Company had lease agreements and business licenses with terms that required the Company to restrict cash through the termination dates of the agreements. Current and non-current restricted cash is included in Other current assets and Other non-current assets, respectively, in the Condensed Consolidated Balance Sheets. The following table provides a reconciliation of the cash and cash equivalents between the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statement of Cash Flows as of December 31, 2019 , 2018 and 2017 : December 31, 2019 2018 2017 Cash and cash equivalents $ 271,719 $ 279,906 $ 207,534 Restricted cash included within other current assets — 108 526 Restricted cash included within other non-current assets — 248 102 Total cash, cash equivalents and restricted cash $ 271,719 $ 280,262 $ 208,162 |
Recently Issued Financial Accounting Standards | Recently Issued Financial Accounting Standards In December 2019, the Financial Accounting Standards Board ("FASB"), issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes. The guidance simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification ("ASC") 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption is permitted. The Company is currently evaluating the impact of this accounting guidance. The effect is not known or reasonably estimable at this time. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments. The guidance amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The standard is effective for fiscal years beginning after December 15, 2019. The Company will adopt this guidance in its fiscal year beginning January 1, 2020. The adoption of this guidance is not anticipated to have a material impact on our consolidated financial statements. Recently Adopted Financial Accounting Standards On January 1, 2019, the Company adopted ASU No. 2016-02, Leases, ASU No. 2018-10, Codification Improvements to Topic 842 (Leases) and ASU No. 2018-11, Targeted Improvements to Topic 842 (Leases). The guidance is intended to increase transparency and comparability among companies for leasing transactions, including a requirement for companies that lease assets to recognize on their balance sheets the assets and liabilities for the rights and obligations created by those leases. The guidance also provides for disclosures that allow the users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted the guidance on January 1, 2019 using the modified retrospective method without restatement of comparative periods. As such, periods prior to the date of adoption are presented in accordance with ASC 840 - Leases. The Company utilized the available practical expedient that allowed for the Company to not reassess whether existing contracts contain a lease under the new definition of a lease, lease classification for existing leases and whether previously capitalized initial direct costs would qualify for capitalization under the new guidance. The adoption of this guidance had a material impact on the Condensed Consolidated Balance Sheet as of December 31, 2019 due to the recognition of equal right-of-use assets and lease liabilities for the Company's portfolio of operating leases. The right-of-use asset balance was then adjusted by the reclassification of pre-existing prepaid and accrued rent balances from other line items within the Condensed Consolidated Balance Sheet. The adoption had an immaterial impact on the Condensed Consolidated Statement of Comprehensive Income and Condensed Consolidated Statement of Cash Flows for the year ended December 31, 2019. The adoption had no impact on the Condensed Consolidated Statement of Changes in Stockholders' Equity for the year ended December 31, 2019. Additional information and disclosures required by the new standard are contained in Note 6 , Leases . On January 1, 2019, the Company adopted ASU No. 2018-02, Income Statement - Reporting Comprehensive Income, which is intended to improve the usefulness of information reported as a result of the Tax Cuts and Jobs Act. The new guidance allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The adoption of this guidance did not have an impact on the Company's consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |
Summary of Estimated Useful Life of Property and Equipment | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows: Office furniture, fixtures and equipment 5–10 years Computer equipment and software 3–7 years Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years. Depreciation is calculated for tax purposes using accelerated methods, where applicable. |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted earnings (loss) per share: December 31, 2019 2018 2017 Net income (loss) $ 46,869 $ 49,295 $ (48,635 ) Weighted average shares outstanding: Basic 19,103 18,917 18,735 Effect of dilutive securities: Restricted stock units 285 406 — Performance stock units 163 209 — Diluted 19,551 19,532 18,735 Basic earnings (loss) per share $ 2.45 $ 2.61 $ (2.60 ) Diluted earnings (loss) per share $ 2.40 $ 2.52 $ (2.60 ) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies Cash and Cash Equivalents, Restricted Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restricted Cash and Cash Equivalents Items [Line Items] | |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Historically, the Company had lease agreements and business licenses with terms that required the Company to restrict cash through the termination dates of the agreements. Current and non-current restricted cash is included in Other current assets and Other non-current assets, respectively, in the Condensed Consolidated Balance Sheets. The following table provides a reconciliation of the cash and cash equivalents between the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statement of Cash Flows as of December 31, 2019 , 2018 and 2017 : December 31, 2019 2018 2017 Cash and cash equivalents $ 271,719 $ 279,906 $ 207,534 Restricted cash included within other current assets — 108 526 Restricted cash included within other non-current assets — 248 102 Total cash, cash equivalents and restricted cash $ 271,719 $ 280,262 $ 208,162 |
Cash And Cash Equivalents Maximum Maturity Period | 3 months |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Unbilled Receivables, Contract Assets and Liabilities [Line Items] | |
Unbilled Receivables, Contract Assets and Liabilities [Table Text Block] | he following table outlines the changes in our contract asset and liability balances at the end of and during the period: December 31, December 31, Variance Contract assets Unbilled receivables $ 7,585 $ 8,684 $ (1,099 ) Contract assets 14,672 15,291 (619 ) Total contract assets 22,257 23,975 (1,718 ) Contract liabilities Deferred revenue $ 41,267 $ 40,673 $ 594 |
Allowance for Doubtful Accoun_2
Allowance for Doubtful Accounts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Summary of Allowance for Doubtful Accounts | The activity of the allowance for doubtful accounts for the years ended: December 31, 2019 2018 2017 Balance at January 1, $ 3,502 $ 2,534 $ 2,575 Provision charged to income 5,900 3,790 963 Write-offs (4,270 ) (2,708 ) (1,134 ) Foreign currency translation 8 (114 ) 130 Balance at December 31, $ 5,140 $ 3,502 $ 2,534 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Components of Company's Property and Equipment | The components of the Company’s property and equipment are as follows: December 31, 2019 2018 Leasehold improvements $ 47,269 $ 48,455 Office furniture, fixtures and equipment 17,740 17,919 Computer equipment and software 27,531 27,063 Property and equipment, gross 92,540 93,437 Accumulated depreciation (63,890 ) (59,566 ) Property and equipment, net $ 28,650 $ 33,871 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessee Operating Leases Supplemental Cash Flow Information [Table Text Block] | Supplemental cash flow information related to the Company's operating leases for the year ended December 31, 2019 , was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 33,797 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 19,640 |
Lessee Operating Lease Weighted Averages [Table Text Block] | The weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31, 2019 was as follows: Weighted Average Remaining Lease Term Operating leases 4.7 years Weighted Average Discount Rate Operating leases 3.9 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The future maturities of the Company's operating lease liabilities for the years ended December 31, were as follows: Operating Lease Maturity 2020 $ 30,246 2021 27,229 2022 23,577 2023 20,555 2024 9,981 Thereafter 8,983 Total lease payments 120,571 Less: Interest (10,228 ) Present value of lease liabilities $ 110,343 |
Leases Lease, Cost (Tables)
Leases Lease, Cost (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | Lease cost components included within General and Administrative Expenses in our Condensed Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2019 , were as follows: Operating lease cost $ 24,928 Variable lease cost 7,932 Total lease cost $ 32,860 |
Leases Operating Lease, Supplem
Leases Operating Lease, Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Operating Lease, Supplemental Cash Flow Information [Line Items] | |
Lessee Operating Leases Supplemental Cash Flow Information [Table Text Block] | Supplemental cash flow information related to the Company's operating leases for the year ended December 31, 2019 , was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 33,797 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 19,640 |
Leases Summary of Minimum Futur
Leases Summary of Minimum Future Office Space and Equipment Lease Payments Due (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Summary of Minimum Future Office Space and Equipment Lease Payments Due [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The minimum future operating lease payments due in each of the next five years as recorded under ASC 840 at December 2018, were as follows: 2019 $ 34,456 2020 31,808 2021 27,381 2022 23,445 2023 20,087 Thereafter 14,448 Total $ 151,625 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table Text Block] | The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value on a recurring basis: Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2019 Level 1: U.S. non-qualified deferred compensation plan $ 25,409 $ — $ — $ 25,409 $ — $ — Level 2: Retirement and pension plan assets 15,296 1,318 13,978 — — — Pension benefit obligation (20,918 ) — — — (1,318 ) (19,600 ) Total Level 2 (5,622 ) 1,318 13,978 — (1,318 ) (19,600 ) Total $ 19,787 $ 1,318 $ 13,978 $ 25,409 $ (1,318 ) $ (19,600 ) Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2018 Level 1: U.S. non-qualified deferred compensation plan $ 19,442 $ — $ — $ 19,442 $ — $ — Level 2: Retirement and pension plan assets 16,384 1,349 15,035 — — — Pension benefit obligation (20,908 ) — — — (1,349 ) (19,559 ) Total Level 2 (4,524 ) 1,349 15,035 — (1,349 ) (19,559 ) Total $ 14,918 $ 1,349 $ 15,035 $ 19,442 $ (1,349 ) $ (19,559 ) |
Reconciliation of Beginning and Ending Balance of Level 3 Assets and Liabilities | The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the year ended December 31, 2019 : Acquisition Balance at December 31, 2018 $ (6,627 ) Earnout accretion (668 ) Earnout payments 3,009 Earnout adjustment (1,062 ) Foreign currency translation 70 Balance at December 31, 2019 $ (5,278 ) |
Marketable Securities and Inves
Marketable Securities and Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table Text Block] | The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value on a recurring basis: Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2019 Level 1: U.S. non-qualified deferred compensation plan $ 25,409 $ — $ — $ 25,409 $ — $ — Level 2: Retirement and pension plan assets 15,296 1,318 13,978 — — — Pension benefit obligation (20,918 ) — — — (1,318 ) (19,600 ) Total Level 2 (5,622 ) 1,318 13,978 — (1,318 ) (19,600 ) Total $ 19,787 $ 1,318 $ 13,978 $ 25,409 $ (1,318 ) $ (19,600 ) Balance Sheet Classification Fair Value Other Current Assets Assets Designated for Retirement and Pension Plans Investments Other Current Liabilities Retirement and Pension Plans Balance at December 31, 2018 Level 1: U.S. non-qualified deferred compensation plan $ 19,442 $ — $ — $ 19,442 $ — $ — Level 2: Retirement and pension plan assets 16,384 1,349 15,035 — — — Pension benefit obligation (20,908 ) — — — (1,349 ) (19,559 ) Total Level 2 (4,524 ) 1,349 15,035 — (1,349 ) (19,559 ) Total $ 14,918 $ 1,349 $ 15,035 $ 19,442 $ (1,349 ) $ (19,559 ) |
Marketable Securities and Inv_2
Marketable Securities and Investments Cash and Available-for-sale Securities by Significant Investment Type (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash and Available-for-sale Securities by Significant Investment Category [Line Items] | |
Cash and Available-for-sale Securities by Significant Investment Category [Table Text Block] | Cash, Cash Equivalents and Marketable Securities The Company's investments in marketable debt securities, which consist of U.S. Treasury bills and commercial paper, are classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument's underlying contractual maturity date. Unrealized gains and losses on marketable debt securities classified as available-for-sale are recognized in Accumulated other comprehensive income in the Consolidated Balance Sheets until realized. The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows: Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2019 Cash $ 177,493 $ — Level 1: Money market funds 15,661 15,661 — U.S. Treasury securities 139,705 13 — 139,718 78,565 61,153 Total Level 1 155,366 13 — 155,379 94,226 61,153 Total $ 155,366 $ 13 $ — $ 155,379 $ 271,719 $ 61,153 Fair Value Balance Sheet Classification Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Marketable Securities Balance at December 31, 2018 Cash $ 279,829 $ — Level 1: Money market funds 77 77 — Total $ — $ — $ — $ 77 $ 279,906 $ — |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill by Segment [Line Items] | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The Company's estimated future amortization expense related to intangible assets as of December 31, 2019 for the years ended December 31st is as follows: 2020 $ 798 2021 507 2022 319 2023 188 2024 76 Thereafter 47 Total $ 1,935 |
Goodwill by Segment [Table Text Block] | The Company's goodwill by segment is as follows: December 31, 2019 December 31, 2018 Executive Search Americas $ 92,497 $ 88,410 Europe 25,579 24,924 Asia Pacific 8,755 8,758 Total Executive Search 126,831 122,092 Heidrick Consulting 36,257 36,257 Goodwill, gross 163,088 158,349 Accumulated impairment (36,257 ) (36,257 ) Goodwill, net $ 126,831 $ 122,092 |
Changes in Carrying Amount of Goodwill by Segment | Changes in the carrying amount of goodwill by segment for the years ended December 31, 2019 , 2018 , and 2017 were as follows: Executive Search Americas Europe Asia Pacific Heidrick Consulting Total Balance as of December 31, 2016 Goodwill $ 88,101 $ 19,092 $ 8,893 $ 35,758 $ 151,844 Accumulated impairment — — — — — Goodwill, net as of December 31, 2016 88,101 19,092 8,893 35,758 151,844 Philosophy IB acquisition 357 — — 7 364 Foreign currency translation 232 1,808 409 492 2,941 Impairment — — — (36,257 ) (36,257 ) Goodwill, net as of December 31, 2017 88,690 20,900 9,302 — 118,892 Amrop acquisition — 5,478 — — 5,478 Foreign currency translation (280 ) (1,454 ) (544 ) — (2,278 ) Goodwill, net as of December 31, 2018 88,410 24,924 8,758 — 122,092 2GET acquisition 3,793 — — — 3,793 Foreign currency translation 294 655 (3 ) — 946 Goodwill, net as of December 31, 2019 $ 92,497 $ 25,579 $ 8,755 $ — $ 126,831 |
Carrying Amount of Amortizable Intangible Assets and Related Accumulated Amortization | In September 2019, the Company acquired 2GET and recorded customer relationships and trade name intangible assets in the Americas segment of $0.3 million and $0.4 million , respectively. During the twelve months ended December 31, 2017, the Company determined that the intangible assets within the Culture Shaping and Leadership Consulting reporting units were impaired, which resulted in impairment charges of $9.9 million and $4.6 million , respectively, to write off all intangible assets associated with each reporting unit. The impairment charges are recorded within Impairment charges in the Condensed Consolidated Statement of Comprehensive Income (Loss) for the twelve months ended December 31, 2017. The impairment charges were non-cash in nature and did not affect current liquidity, cash flows, borrowing capability or operations, nor did they impact the debt covenants under our credit agreement. The carrying amount of amortizable intangible assets and the related accumulated amortization were as follows: December 31, 2019 December 31, 2018 Weighted Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Carrying Amount Client relationships 6.6 $ 16,302 $ (14,683 ) $ 1,619 $ 15,910 $ (13,694 ) $ 2,216 Trade name 5.0 362 (46 ) 316 — — — Total intangible assets 6.3 $ 16,664 $ (14,729 ) $ 1,935 $ 15,910 $ (13,694 ) $ 2,216 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets Schedule of Finite Lived Intangible Assets by Segment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule Of Finite Lived Intangible Assets By Segment [Table Text Block] | The Company’s other intangible assets, net, by segment, are as follows: December 31, 2019 December 31, 2018 Executive Search Americas $ 557 $ 52 Europe 1,314 2,086 Asia Pacific 64 78 Total Executive Search 1,935 2,216 Heidrick Consulting — — Total Other Intangible Assets, Net $ 1,935 $ 2,216 |
Other Non-Current Liabilities (
Other Non-Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Liabilities Disclosure [Abstract] | |
Components of Other Non-Current Liabilities | The components of other non-current liabilities are as follows: December 31, 2019 December 31, 2018 Premise related costs $ 2,392 $ 15,473 Other 2,242 1,950 Total other non-current liabilities $ 4,634 $ 17,423 |
Other Current Assets and Non-_2
Other Current Assets and Non-current Liabilities Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Current Assets - Components of Other Current Assets [Line Items] | |
Other Current Assets [Text Block] | The components of other current assets are as follows: December 31, 2019 December 31, 2018 Contract assets $ 22,257 $ 23,975 Other 5,591 5,623 Total other current assets $ 27,848 $ 29,598 |
Pension Plan and Life Insuran_2
Pension Plan and Life Insurance Contract (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | 2019 2018 Benefit obligation at January 1, $ 20,908 $ 23,886 Interest cost 338 373 Actuarial (gain) loss 1,506 (886 ) Benefits paid (1,375 ) (1,450 ) Cumulative translation adjustment (459 ) (1,015 ) Benefit obligation at December 31, $ 20,918 $ 20,908 |
Schedule of Net Benefit Costs [Table Text Block] | The components of and assumptions used to determine the net periodic benefit cost are as follows: December 31, 2019 2018 2017 Net period benefit cost: Interest cost $ 338 $ 373 $ 362 Amortization of net loss 35 92 111 Net periodic benefit cost $ 373 $ 465 $ 473 Weighted average assumptions Discount rate (1) 1.71 % 1.64 % 1.49 % Rate of compensation increase — % — % — % |
Schedule of Assumptions Used [Table Text Block] | Assumptions to determine the Company’s benefit obligation are as follows: December 31, 2019 2018 2017 Discount rate (1) 1.03 % 1.71 % 1.64 % Rate of compensation increase — % — % — % Measurement Date 12/31/2019 12/31/2018 12/31/2017 |
Schedule of Expected Benefit Payments [Table Text Block] | The benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter are as follows: 2020 $ 1,318 2021 1,305 2022 1,288 2023 1,269 2024 1,245 2025 through 2029 5,713 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | The benefit obligation amounts recognized in the Consolidated Balance Sheets are as follows: December 31, 2019 2018 Current liabilities $ 1,318 $ 1,349 Noncurrent liabilities 19,600 19,559 Total $ 20,918 $ 20,908 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Information with Respect to Stock-based Compensation | A summary of information with respect to stock-based compensation is as follows: December 31, 2019 2018 2017 Salaries and employee benefits (1) $ 12,857 $ 9,548 $ 4,597 General and administrative expenses 460 562 338 Income tax benefit related to stock-based compensation included in net income 3,529 2,674 1,948 |
Restricted Stock Unit Activity | Restricted stock unit activity for the years ended December 31, 2019 , 2018 and 2017 is as follows: Number of Weighted- Outstanding on December 31, 2017 491,154 $ 21.92 Granted 297,664 34.64 Vested and converted to common stock (199,550 ) 21.66 Forfeited (76,822 ) 25.76 Outstanding on December 31, 2018 512,446 28.83 Granted 270,488 33.55 Vested and converted to common stock (175,792 ) 24.19 Forfeited (8,154 ) 34.29 Outstanding on December 31, 2019 598,988 $ 32.25 |
Performance Stock Unit Activity | Performance share unit activity for the years ended December 31, 2019 , 2018 and 2017 was as follows: Number of Weighted- Outstanding on December 31, 2017 185,891 $ 23.82 Granted 102,138 25.81 Vested and converted to common stock (43,361 ) 23.64 Forfeited (47,551 ) 23.87 Outstanding on December 31, 2018 197,117 24.88 Granted 81,661 35.58 Vested and converted to common stock (99,219 ) 25.04 Forfeited — — Outstanding on December 31, 2019 179,559 $ 32.63 |
Stock-Based Compensation Schedu
Stock-Based Compensation Schedule of Share-based Compensation, Phantom Stock Units Award Activity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Share-based Compensation, Phantom Stock Units Award Activity [Line Items] | |
Schedule of Share-based Compensation, Phantom Stock Units Award Activity [Table Text Block] | Phantom stock unit activity for the years ended December 31, 2019 , 2018, and 2017 was as follows: Number of Stock Units Outstanding on December 31, 2017 — Granted 111,673 Vested — Forfeited — Outstanding on December 31, 2018 111,673 Granted 154,387 Vested — Forfeited — Outstanding on December 31, 2019 266,060 |
Restructuring Schedule of Restr
Restructuring Schedule of Restructuring Charges by Segment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Restructuring Charges by Segment [Line Items] | |
Schedule of Restructuring Charges by Segment [Table Text Block] | Restructuring charges by operating segment for the years ended December 31, were as follows: December 31, 2019 2018 2017 Executive Search Americas $ 4,102 $ — $ 784 Europe — — 3,993 Asia Pacific — — 2,046 Total Executive Search 4,102 — 6,823 Heidrick Consulting — — 3,393 Global Operations Support 28 — 5,450 Total restructuring $ 4,130 $ — $ 15,666 |
Restructuring Schedule of Res_2
Restructuring Schedule of Restructuring Charges and Related Cash Payments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | |
Schedule of Restructuring Charges and Related Cash Payments [Table Text Block] | December 31, 2019 2018 2017 Executive Search Americas $ 4,102 $ — $ 784 Europe — — 3,993 Asia Pacific — — 2,046 Total Executive Search 4,102 — 6,823 Heidrick Consulting — — 3,393 Global Operations Support 28 — 5,450 Total restructuring $ 4,130 $ — $ 15,666 Changes in the restructuring accrual for the years ended December 31, 2019 , 2018 , and 2017 were as follows: Employee Related Office Related Other Total Accrual balance at December 31, 2016 $ — $ — $ — $ — Restructuring charges 13,065 308 2,293 15,666 Cash payments (1,199 ) (5 ) (1,282 ) (2,486 ) Non-cash write-offs — (155 ) — (155 ) Accrual balance at December 31, 2017 11,866 148 1,011 13,025 Cash payments (8,689 ) (248 ) (993 ) (9,930 ) Non-cash write-offs — 195 — 195 Other (1,843 ) (95 ) 5 (1,933 ) Exchange rate fluctuations (65 ) — (6 ) (71 ) Accrual balance at December 31, 2018 1,269 — 17 1,286 Restructuring charges 4,130 — — 4,130 Cash payments (2,213 ) — — (2,213 ) Non-cash write-offs — — (17 ) (17 ) Other 4 — — 4 Exchange rate fluctuations 55 — — 55 Accrual balance at December 31, 2019 $ 3,245 $ — $ — $ 3,245 |
Restructuring and Related Costs [Table Text Block] | Changes in the restructuring accrual for the years ended December 31, 2019 , 2018 , and 2017 were as follows: Employee Related Office Related Other Total Accrual balance at December 31, 2016 $ — $ — $ — $ — Restructuring charges 13,065 308 2,293 15,666 Cash payments (1,199 ) (5 ) (1,282 ) (2,486 ) Non-cash write-offs — (155 ) — (155 ) Accrual balance at December 31, 2017 11,866 148 1,011 13,025 Cash payments (8,689 ) (248 ) (993 ) (9,930 ) Non-cash write-offs — 195 — 195 Other (1,843 ) (95 ) 5 (1,933 ) Exchange rate fluctuations (65 ) — (6 ) (71 ) Accrual balance at December 31, 2018 1,269 — 17 1,286 Restructuring charges 4,130 — — 4,130 Cash payments (2,213 ) — — (2,213 ) Non-cash write-offs — — (17 ) (17 ) Other 4 — — 4 Exchange rate fluctuations 55 — — 55 Accrual balance at December 31, 2019 $ 3,245 $ — $ — $ 3,245 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Sources of Income (Loss) before Income Taxes | The sources of income (loss) before income taxes are as follows: December 31, 2019 2018 2017 United States $ 53,461 $ 47,191 $ (28,577 ) Foreign 15,828 23,301 (841 ) Income (loss) before income taxes $ 69,289 $ 70,492 $ (29,418 ) |
Provision for (Benefit from) Income Taxes | The provision for (benefit from) income taxes are as follows: December 31, 2019 2018 2017 Current Federal $ 11,311 $ 12,311 $ 10,107 State and local 4,422 4,843 2,372 Foreign 4,423 6,907 8,257 Current provision for income taxes 20,156 24,061 20,736 Deferred Federal 2,031 6,403 5,642 State and local 698 (354 ) (2,951 ) Foreign (465 ) (8,913 ) (4,210 ) Deferred provision (benefit) for income taxes 2,264 (2,864 ) (1,519 ) Total provision for income taxes $ 22,420 $ 21,197 $ 19,217 |
Reconciliation of Provision for (Benefit from) Income Taxes | A reconciliation of the provision for income taxes to income taxes at the statutory U.S. federal income tax rate of 21% for the years ended December 31, 2019 and 2018, and 35% for the year ended December 31, 2017 is as follows: December 31, 2019 2018 2017 Income tax provision (benefit) at the statutory U.S. federal rate $ 14,551 $ 14,803 $ (10,296 ) State income tax provision (benefit), net of federal tax benefit 3,509 3,242 (593 ) Nondeductible expenses, net 1,570 1,651 3,282 Foreign taxes (includes rate differential and changes in foreign valuation allowance) 698 (35 ) 5,465 Release of valuation allowance (117 ) (43 ) (3,200 ) Additional U.S. tax on foreign operations 2,550 1,628 — Current/deferred true-up (157 ) (1,199 ) 567 Tax reform — — 23,732 Other, net (184 ) 1,150 260 Total provision for income taxes $ 22,420 $ 21,197 $ 19,217 |
Summary of Deferred Tax Assets and Liabilities | The deferred tax assets and liabilities are attributable to the following components: December 31, 2019 2018 Deferred tax assets attributable to: Foreign net operating loss carryforwards $ 17,940 $ 18,259 Accrued compensation and employee benefits 14,506 15,442 Deferred compensation 17,110 15,587 Foreign tax credit carryforwards 6,493 8,163 Accrued rent 2,655 3,096 Other accrued expenses 5,882 6,290 Deferred tax assets, before valuation allowance 64,586 66,837 Valuation allowance (24,200 ) (26,460 ) Deferred tax assets, after valuation allowance 40,386 40,377 Deferred tax liabilities attributable to: Goodwill 5,440 2,203 Taxes provided on unremitted earnings — 765 Depreciation on property and equipment 1,652 2,040 Other 533 686 Deferred tax liabilities 7,625 5,694 Net deferred tax assets $ 32,761 $ 34,683 |
Reconciliation of Amounts of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: December 31, 2019 2018 2017 Gross unrecognized tax benefits at January 1, $ 1,128 $ 740 $ 1,038 Gross increases for tax positions of prior years 389 608 167 Gross decreases for tax positions of prior years (377 ) — — Settlements (1,010 ) (220 ) (465 ) Lapse of statute of limitations — — — Gross unrecognized tax benefits at December 31, $ 130 $ 1,128 $ 740 |
Changes in Accumulated Other _2
Changes in Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Changes in Accumulated Other Comprehensive Income ("AOCI") by Component | The changes in Accumulated other comprehensive income (“AOCI”) by component for the year ended December 31, 2019 , are summarized below: Available- Foreign Pension AOCI Balance at December 31, 2018 $ — $ 5,258 $ (1,196 ) $ 4,062 Other comprehensive income before classification, net of tax 13 844 (1,095 ) (238 ) Balance at December 31, 2019 $ 13 $ 6,102 $ (2,291 ) $ 3,824 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |
Revenue, Operating Income, Depreciation and Amortization, and Capital Expenditures, by Segment | The revenue, operating income, depreciation and amortization, and capital expenditures, by segment, were as follows: December 31, 2019 2018 2017 Revenue Executive Search Americas $ 415,455 $ 405,267 $ 339,793 Europe 135,070 145,348 125,346 Asia Pacific 95,827 102,276 86,905 Total Executive Search 646,352 652,891 552,044 Heidrick Consulting 60,572 63,132 69,356 Revenue before reimbursements 706,924 716,023 621,400 Reimbursements 18,690 19,632 18,656 Total revenue $ 725,614 $ 735,655 $ 640,056 Operating income (loss) Executive Search Americas (1) $ 100,833 $ 96,880 $ 75,337 Europe (2) 3,026 5,849 13 Asia Pacific (3) 13,590 15,999 537 Total Executive Search 117,449 118,728 75,887 Heidrick Consulting (4) (18,499 ) (13,619 ) (62,368 ) Total segments 98,950 105,109 13,519 Global Operations Support (5) (35,439 ) (36,252 ) (40,042 ) Total operating income (loss) $ 63,511 $ 68,857 $ (26,523 ) Depreciation and amortization Executive Search Americas $ 4,204 $ 4,605 $ 4,794 Europe 2,784 3,735 3,328 Asia Pacific 1,472 1,646 1,565 Total Executive Search 8,460 9,986 9,687 Heidrick Consulting 1,079 1,577 4,099 Total segments 9,539 11,563 13,786 Global Operations Support 832 959 988 Total depreciation and amortization $ 10,371 $ 12,522 $ 14,774 Capital expenditures Executive Search Americas $ 1,121 $ 601 $ 7,123 Europe 1,070 3,557 1,460 Asia Pacific 295 440 2,633 Total Executive Search 2,486 4,598 11,216 Heidrick Consulting 541 581 1,172 Total segments 3,027 5,179 12,388 Global Operations Support 325 1,006 3,298 Total capital expenditures $ 3,352 $ 6,185 $ 15,686 (1) Operating income for the Americas includes restructuring charges of $4.1 million in 2019 and $0.8 million in 2017. (2) Operating income for Europe includes restructuring charges of $4.0 million in 2017. (3) Operating income for Asia Pacific includes restructuring charges of $2.0 million in 2017. (4) Operating loss for Heidrick Consulting includes impairment charges of $50.7 million and restructuring charges of $3.4 million in 2017. (5) Operating loss for Global Operations Support includes restructuring charges of less than $0.1 million in 2019 and $5.5 million in 2017. |
Identifiable Assets, Goodwill and Other Intangible Assets, Net, by Segment | Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows: December 31, 2019 2018 Current assets Executive Search Americas $ 286,818 $ 255,889 Europe 96,230 85,355 Asia Pacific 78,967 74,169 Total Executive Search 462,015 415,413 Heidrick Consulting 30,628 34,174 Total segments 492,643 449,587 Global Operations Support 1,839 1,280 Total allocated current assets 494,482 450,867 Unallocated non-current assets 220,925 125,454 Goodwill and other intangible assets, net Executive Search Americas 93,054 88,462 Europe 26,893 27,010 Asia Pacific 8,819 8,836 Total Executive Search 128,766 124,308 Heidrick Consulting — — Total goodwill and other intangible assets, net 128,766 124,308 Total assets $ 844,173 $ 700,629 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Minimum Future Office Space and Equipment Lease Payments Due | The minimum future operating lease payments due in each of the next five years as recorded under ASC 840 at December 2018, were as follows: 2019 $ 34,456 2020 31,808 2021 27,381 2022 23,445 2023 20,087 Thereafter 14,448 Total $ 151,625 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Estimated Useful Life of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Office Furniture, Fixtures and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 5 years |
Office Furniture, Fixtures and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 10 years |
Computer Equipment and Software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 3 years |
Computer Equipment and Software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 7 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 3 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life of assets | 10 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Net Income (Loss) Attributable to Parent | $ 46,869 | $ 49,295 | $ (48,635) |
Weighted Average Number of Shares Outstanding, Basic | 19,103 | 18,917 | 18,735 |
Weighted Average Number of Shares Outstanding, Diluted | 19,551 | 19,532 | 18,735 |
Earnings Per Share, Basic | $ 2.45 | $ 2.61 | $ (2.60) |
Earnings Per Share, Diluted | $ 2.40 | $ 2.52 | $ (2.60) |
Restricted Stock Units (RSUs) [Member] | |||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 327 | ||
Weighted Average Number of Shares Outstanding, Diluted | 285 | 406 | 0 |
Performance Shares [Member] | |||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 80 | ||
Weighted Average Number of Shares Outstanding, Diluted | 163 | 209 | 0 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Restricted Cash and Cash Equivalents Items [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | $ 271,719 | $ 279,906 | $ 207,534 |
Restricted Cash Included with Current Assets | 0 | 108 | 526 |
Restricted Cash Included with Non-Current Assets | 0 | 248 | 102 |
Total Cash, Cash Equivalents, and Restricted Cash | $ 271,719 | $ 280,262 | $ 208,162 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Salaries and Employee Benefits (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Vesting Period Of Deferred Cash Bonuses | 3 years |
Additional Vesting Period After Deferral Date For Bonus Payment | 3 years |
Maximum [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |
Variation Percentage Of Deferred Cash Bonuses | 15.00% |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Concentration of Risk (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Summary of Significant Accounting Policies - Concentration of Risk [Abstract] | |
Concentration Risk, Customer | 0 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Unbilled Receivables, Contract Assets and Liabilities [Line Items] | ||
Percentage Of Estimated First Year Compensation Received For Executive Search Services | 33.33% | |
Percentage Of Excess Of Actual Over Estimated Compensation Of Placed Candidate Billed To Client | 33.33% | |
Percentage Increments Billed To Clients For Retainer And Indirect Expenses | 33.33% | |
Unbilled Contracts Receivable | $ 7,585 | $ 8,684 |
Increase (Decrease) in Unbilled Contracts Receivable | (1,099) | |
Contract with Customer, Asset, Net | 14,672 | 15,291 |
Increase (Decrease) in Contract Assets | (619) | |
Contract Assets | 22,257 | 23,975 |
Total Contract Asset Increase Decrease | (1,718) | |
Deferred Revenue, Current | 41,267 | 40,673 |
Increase (Decrease) in Contract Liabilities | 594 | |
Deferred Revenue, Revenue Recognized | 26,600 | 28,000 |
Contract with Customer, Performance Obligation Satisfied in Previous Period | $ 19,400 | $ 21,800 |
Allowance for Doubtful Accoun_3
Allowance for Doubtful Accounts - Summary of Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Beginning balance | $ 3,502 | $ 2,534 | $ 2,575 |
Provision charged to income | 5,900 | 3,790 | 963 |
Write-offs | (4,270) | (2,708) | (1,134) |
Foreign currency translation | (8) | 114 | (130) |
Ending balance | $ 5,140 | $ 3,502 | $ 2,534 |
Property and Equipment, Net - C
Property and Equipment, Net - Components of Company's Property and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 92,540 | $ 93,437 |
Accumulated depreciation | (63,890) | (59,566) |
Property and equipment, net | 28,650 | 33,871 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 47,269 | 48,455 |
Office Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 17,740 | 17,919 |
Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 27,531 | $ 27,063 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 9.5 | $ 11 | $ 10.4 |
Leases (Details)
Leases (Details) | Dec. 31, 2019 |
Minimum [Member] | Office Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 1 year |
Lessee, Operating Lease, Term of Contract | 1 year |
Minimum [Member] | Equipment Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 1 year |
Lessee, Operating Lease, Term of Contract | 1 year |
Maximum [Member] | Office Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 10 years 5 months |
Lessee, Operating Lease, Term of Contract | 10 years 5 months |
Maximum [Member] | Equipment Leases [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Term of Contract | 4 years 9 months |
Lessee, Operating Lease, Term of Contract | 4 years 9 months |
Leases Lessee, Operating Lease,
Leases Lessee, Operating Lease, Liability, Maturity (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Lessee, Operating Lease, Liability, Maturity [Abstract] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 30,246,000 | $ 34,456,000 |
Operating Leases, Future Minimum Payments, Due in Two Years | 27,229,000 | 31,808,000 |
Operating Leases, Future Minimum Payments, Due in Three Years | 23,577,000 | 27,381,000 |
Operating Leases, Future Minimum Payments, Due in Four Years | 20,555,000 | 23,445,000 |
Operating Leases, Future Minimum Payments, Due in Five Years | 9,981,000 | 20,087,000 |
Operating Leases, Future Minimum Payments, Due Thereafter | 8,983,000 | 14,448,000 |
Operating Leases, Future Minimum Payments Due | 120,571,000 | $ 151,625,000 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 10,228,000 | |
Operating Lease, Liability | $ 110,343,000 |
Leases Operating Lease, Suppl_2
Leases Operating Lease, Supplemental Cash Flow (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating Lease, Supplemental Cash Flow Information [Line Items] | |
Operating Lease, Payments | $ 33,797 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 19,640 |
Leases Lease, Cost (Details)
Leases Lease, Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lease, Cost [Line Items] | |||
Operating Leases, Rent Expense | $ 33,200 | $ 32,200 | |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 8 months | ||
Asset Retirement Obligation | $ 3,000 | $ 2,700 | |
Operating Lease, Expense | 24,928 | ||
Variable Lease, Cost | 7,932 | ||
Lease, Cost | $ 32,860 | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.90% |
Fair Value Measurements - Level
Fair Value Measurements - Levels of Inputs Used to Measure Fair Value of Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Cash [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, at Carrying Value | $ 177,493 | $ 279,829 |
Marketable Securities | 0 | 0 |
Money Market Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, at Carrying Value | 15,661 | 77 |
Marketable Securities | 0 | 0 |
Debt Securities, Available-for-sale, Amortized Cost | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | ||
Debt Securities, Available-for-sale | 15,661 | $ 77 |
US Treasury Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and Cash Equivalents, at Carrying Value | 78,565 | |
Marketable Securities | 61,153 | |
Debt Securities, Available-for-sale, Amortized Cost | 139,705 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 13 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | |
Debt Securities, Available-for-sale | $ 139,718 |
Fair Value Measurements - Recon
Fair Value Measurements - Reconciliation of Beginning and Ending Balance of Level 3 Assets and Liabilities (Details) - Acquisition Earnout Accruals [Member] - Fair Value, Inputs, Level 3 [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Acquisition earnout accruals, beginning balance | $ (6,627) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Business Combination, Acquisition Earnout Adjustment, Fair Value | (1,062) |
Earnout accretion | (668) |
Earnout payments | 3,009 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation | 70 |
Acquisition earnout accruals, ending balance | $ (5,278) |
Investments - Additional Inform
Investments - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Long-term Investments | $ 25,409 | $ 19,442 | |
Aggregate cost basis for investments | 17,200 | 14,600 | |
Defined Benefit Plan, Plan Assets, Amount | 15,296 | 16,384 | |
Defined Benefit Plan, Benefit Obligation | 20,918 | 20,908 | $ 23,886 |
Fair Value, Net Asset (Liability) | 19,787 | 14,918 | |
Fair Value, Inputs, Level 1 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
U.S. non-qualified deferred compensation plan assets | 25,409 | 19,442 | |
Fair Value, Inputs, Level 2 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 15,296 | 16,384 | |
Defined Benefit Plan, Benefit Obligation | 20,918 | 20,908 | |
Fair Value, Net Asset (Liability) | (5,622) | (4,524) | |
Other Current Liabilities [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Fair Value, Net Asset (Liability) | (1,318) | (1,349) | |
Other Current Liabilities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Available-for-sale Securities | 0 | 0 | |
Other Current Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation | 1,318 | 1,349 | |
Fair Value, Net Asset (Liability) | (1,318) | (1,349) | |
Other Pension Plan [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Fair Value, Net Asset (Liability) | (19,600) | (19,559) | |
Other Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Available-for-sale Securities | 0 | 0 | |
Other Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation | 19,600 | 19,559 | |
Fair Value, Net Asset (Liability) | (19,600) | (19,559) | |
Other Current Assets [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Fair Value, Net Asset (Liability) | 1,318 | 1,349 | |
Other Current Assets [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
U.S. non-qualified deferred compensation plan assets | 0 | 0 | |
Other Current Assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 1,318 | 1,349 | |
Defined Benefit Plan, Benefit Obligation | 0 | 0 | |
Fair Value, Net Asset (Liability) | 1,318 | 1,349 | |
Investments [Domain] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Fair Value, Net Asset (Liability) | 25,409 | 19,442 | |
Investments [Domain] | Fair Value, Inputs, Level 1 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
U.S. non-qualified deferred compensation plan assets | 25,409 | 19,442 | |
Investments [Domain] | Fair Value, Inputs, Level 2 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 0 | 0 | |
Defined Benefit Plan, Benefit Obligation | 0 | 0 | |
Fair Value, Net Asset (Liability) | 0 | 0 | |
Assets Designated for Retirement and Pension Plans [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Fair Value, Net Asset (Liability) | 13,978 | 15,035 | |
Assets Designated for Retirement and Pension Plans [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
U.S. non-qualified deferred compensation plan assets | 0 | 0 | |
Assets Designated for Retirement and Pension Plans [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | |||
Defined Benefit Plan, Plan Assets, Amount | 13,978 | 15,035 | |
Defined Benefit Plan, Benefit Obligation | 0 | 0 | |
Fair Value, Net Asset (Liability) | $ 13,978 | $ 15,035 |
Investments Cash and Available-
Investments Cash and Available-for-sale Securities by Significant Investment Category (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and Available-for-sale Securities by Significant Investment Category [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | $ 271,719 | $ 279,906 | $ 207,534 |
Marketable Securities | 61,153 | 0 | |
Debt Securities, Available-for-sale, Amortized Cost | 155,366 | 0 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 13 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | |
Debt Securities, Available-for-sale | 155,379 | 77 | |
Cash [Member] | |||
Cash and Available-for-sale Securities by Significant Investment Category [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | 177,493 | 279,829 | |
Marketable Securities | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | |||
Cash and Available-for-sale Securities by Significant Investment Category [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | 94,226 | ||
Marketable Securities | 61,153 | ||
Debt Securities, Available-for-sale, Amortized Cost | 155,366 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 13 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | ||
Debt Securities, Available-for-sale | 155,379 | ||
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | |||
Cash and Available-for-sale Securities by Significant Investment Category [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | 15,661 | 77 | |
Marketable Securities | 0 | 0 | |
Debt Securities, Available-for-sale, Amortized Cost | |||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | |||
Debt Securities, Available-for-sale | 15,661 | $ 77 | |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | |||
Cash and Available-for-sale Securities by Significant Investment Category [Line Items] | |||
Cash and Cash Equivalents, at Carrying Value | 78,565 | ||
Marketable Securities | 61,153 | ||
Debt Securities, Available-for-sale, Amortized Cost | 139,705 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 13 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | ||
Debt Securities, Available-for-sale | $ 139,718 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) kr in Thousands, $ in Thousands | Sep. 24, 2019USD ($) | Jan. 04, 2018USD ($) | Jan. 04, 2018DKK (kr) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | |||||||
Business Combination, Consideration Transferred | $ 5,200 | $ 3,900 | kr 24,300 | ||||
Accrued additional cash consideration | $ 5,300 | ||||||
Accretion expense | 668 | $ 1,285 | $ 1,038 | ||||
Goodwill | 126,831 | $ 122,092 | $ 118,892 | $ 151,844 | |||
Business Combination, Consideration Transferred, Cash | 4,100 | ||||||
Business Combination, Consideration Transferred, Other | $ 1,100 | ||||||
Finite-lived Intangible Assets Acquired | 700 | ||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 5,500 | 3,800 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 700 | ||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | 5,000 | ||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 15,000 | ||||||
Trade Names [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived Intangible Assets Acquired | 400 | ||||||
Customer Relationships [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived Intangible Assets Acquired | $ 1,700 | $ 300 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||||
Amortization of Intangible Assets | $ 900 | $ 1,500 | $ 4,400 | |
2GET acquisition | 3,793 | |||
Amrop acquisition | 5,478 | |||
Goodwill [Roll Forward] | ||||
Beginning Balance | 122,092 | 118,892 | 151,844 | |
Goodwill, Gross | 163,088 | 158,349 | $ 151,844 | |
Ending Balance | 126,831 | 122,092 | 118,892 | |
Goodwill, Impaired, Accumulated Impairment Loss | (36,257) | (36,257) | 0 | |
Goodwill, Impairment Loss | (36,257) | |||
Philosophy IB [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 364 | |||
Foreign currency translation | 946 | (2,278) | 2,941 | |
Executive Search [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Gross | 126,831 | 122,092 | ||
Executive Search [Member] | Americas [Member] | ||||
Goodwill [Line Items] | ||||
2GET acquisition | 3,793 | |||
Amrop acquisition | 0 | |||
Goodwill [Roll Forward] | ||||
Beginning Balance | 88,410 | 88,690 | 88,101 | |
Foreign currency translation | 294 | (280) | 232 | |
Goodwill, Gross | 92,497 | 88,410 | 88,101 | |
Ending Balance | 92,497 | 88,410 | 88,690 | |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill, Impairment Loss | 0 | |||
Executive Search [Member] | Asia Pacific [Member] | ||||
Goodwill [Line Items] | ||||
2GET acquisition | 0 | |||
Amrop acquisition | 0 | |||
Goodwill [Roll Forward] | ||||
Beginning Balance | 8,758 | 9,302 | 8,893 | |
Goodwill acquired | 0 | |||
Foreign currency translation | (3) | (544) | 409 | |
Goodwill, Gross | 8,755 | 8,758 | 8,893 | |
Ending Balance | 8,755 | 8,758 | 9,302 | |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill, Impairment Loss | 0 | |||
Executive Search [Member] | Europe [Member] | ||||
Goodwill [Line Items] | ||||
2GET acquisition | 0 | |||
Amrop acquisition | 5,478 | |||
Goodwill [Roll Forward] | ||||
Beginning Balance | 24,924 | 20,900 | 19,092 | |
Goodwill acquired | 0 | |||
Foreign currency translation | 655 | (1,454) | 1,808 | |
Goodwill, Gross | 25,579 | 24,924 | 19,092 | |
Ending Balance | 25,579 | 24,924 | 20,900 | |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill, Impairment Loss | 0 | |||
Executive Search [Member] | Philosophy IB [Member] | Americas [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 357 | |||
Leadership Consulting [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Impairment Loss | (6,900) | |||
Culture Shaping [Member] | ||||
Goodwill [Roll Forward] | ||||
Goodwill, Impairment Loss | (29,300) | |||
Heidrick Consulting [Domain] | ||||
Goodwill [Line Items] | ||||
2GET acquisition | 0 | |||
Amrop acquisition | 0 | |||
Goodwill [Roll Forward] | ||||
Beginning Balance | 0 | 0 | 35,758 | |
Goodwill acquired | 7 | |||
Foreign currency translation | 0 | 0 | 492 | |
Goodwill, Gross | 36,257 | 36,257 | 35,758 | |
Ending Balance | $ 0 | $ 0 | 0 | |
Goodwill, Impaired, Accumulated Impairment Loss | $ 0 | |||
Goodwill, Impairment Loss | $ 36,257 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Goodwill - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2016 | |
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Gross | $ 163,088 | $ 158,349 | $ 151,844 | |
Goodwill, Impaired, Accumulated Impairment Loss | (36,257) | (36,257) | 0 | |
Goodwill | $ 118,892 | 126,831 | 122,092 | 151,844 |
Goodwill, Impairment Loss | 36,257 | |||
Philosophy IB [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill acquired | 364 | |||
Culture Shaping [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Impairment of Intangible Assets, Finite-lived | 9,900 | |||
Goodwill, Impairment Loss | 29,300 | |||
Leadership Consulting [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Impairment of Intangible Assets, Finite-lived | 4,600 | |||
Goodwill, Impairment Loss | 6,900 | |||
Executive Search [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill, Gross | $ 126,831 | 122,092 | ||
Executive Search [Member] | Europe [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 21.00% | |||
Goodwill, Gross | $ 25,579 | 24,924 | 19,092 | |
Goodwill acquired | 0 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill | 20,900 | $ 25,579 | 24,924 | 19,092 |
Goodwill, Impairment Loss | 0 | |||
Executive Search [Member] | Americas [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 329.00% | |||
Goodwill, Gross | $ 92,497 | 88,410 | 88,101 | |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill | 88,690 | $ 92,497 | 88,410 | 88,101 |
Goodwill, Impairment Loss | 0 | |||
Executive Search [Member] | Asia Pacific [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 30.00% | |||
Goodwill, Gross | $ 8,755 | 8,758 | 8,893 | |
Goodwill acquired | 0 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill | 9,302 | $ 8,755 | $ 8,758 | $ 8,893 |
Goodwill, Impairment Loss | 0 | |||
Executive Search [Member] | Philosophy IB [Member] | Americas [Member] | ||||
Goodwill And Other Intangible Assets [Line Items] | ||||
Goodwill acquired | $ 357 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Summary of Other Intangible Assets Net by Segment (Detail) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 1,935,000 | $ 2,216,000 |
Executive Search [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 1,935,000 | 2,216,000 |
Executive Search [Member] | Americas [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 557,000 | 52,000 |
Executive Search [Member] | Europe [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 1,314,000 | 2,086,000 |
Executive Search [Member] | Asia Pacific [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | 64,000 | 78,000 |
Heidrick Consulting [Domain] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Net Carrying Amount | $ 0 | $ 0 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets - Carrying Amount of Amortizable Intangible Assets and Related Accumulated Amortization (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | $ 900,000 | $ 1,500,000 | $ 4,400,000 |
Weighted Average Life (in years) | 6 years 4 months | ||
Gross Carrying Amount | $ 16,664,000 | 15,910,000 | |
Accumulated Amortization | 14,729,000 | 13,694,000 | |
Net Carrying Amount | $ 1,935,000 | 2,216,000 | |
Client relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Life (in years) | 6 years 7 months | ||
Gross Carrying Amount | $ 16,302,000 | 15,910,000 | |
Accumulated Amortization | 14,683,000 | 13,694,000 | |
Net Carrying Amount | $ 1,619,000 | 2,216,000 | |
Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Life (in years) | 5 years | ||
Gross Carrying Amount | $ 362,000 | 0 | |
Accumulated Amortization | 46,000 | 0 | |
Net Carrying Amount | $ 316,000 | $ 0 |
Goodwill and Other Intangible_8
Goodwill and Other Intangible Assets - Intangible Assets- Additional Information (Detail) - USD ($) | Jan. 04, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-lived Intangible Assets Acquired | $ 700,000 | |||
Net Carrying Amount | 1,935,000 | $ 2,216,000 | ||
Intangible asset amortization expense, excluding impairment charge | 900,000 | 1,500,000 | $ 4,400,000 | |
Estimated Intangible asset amortization expense 2020 | 798,000 | |||
Estimated Intangible asset amortization expense 2021 | 507,000 | |||
Estimated Intangible asset amortization expense 2022 | 319,000 | |||
Estimated Intangible asset amortization expense 2023 | 188,000 | |||
Estimated Intangible asset amortization expense 2024 | 76,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 47,000 | |||
Customer Relationships [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-lived Intangible Assets Acquired | $ 1,700,000 | 300,000 | ||
Net Carrying Amount | 1,619,000 | 2,216,000 | ||
Trade Names [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-lived Intangible Assets Acquired | 400,000 | |||
Net Carrying Amount | $ 316,000 | $ 0 |
Other Non-Current Liabilities -
Other Non-Current Liabilities - Components of Other Non-Current Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Other Liabilities Disclosure [Abstract] | ||
Premise related costs | $ 2,392 | $ 15,473 |
Other | 2,242 | 1,950 |
Total other non-current liabilities | $ 4,634 | $ 17,423 |
Other Current Assets and Non-_3
Other Current Assets and Non-current Liabilities Other Current Assets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Other Current Assets - Components of Other Current Assets [Line Items] | ||
Unbilled Receivables, Current | $ 22,257,000 | $ 23,975,000 |
Other Assets, Miscellaneous, Current | 5,591,000 | 5,623,000 |
Other Assets, Current | $ 27,848,000 | $ 29,598,000 |
Line of Credit - Additional Inf
Line of Credit - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2015 | |
Line of Credit Facility [Line Items] | ||||||||
Payments of Debt Issuance Costs | $ 0 | $ 981 | $ 0 | |||||
Long-term Line of Credit, Noncurrent | 0 | 0 | ||||||
Proceeds from Lines of Credit | $ 0 | 20,000 | $ 40,000 | |||||
Senior Unsecured Revolving Line Of Credit Member [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Borrowing amount under term loan facility | $ 100,000 | |||||||
Sublimit for letters of credit | 25,000 | |||||||
Line of credit facility expansion feature | $ 50,000 | |||||||
Proceeds from Lines of Credit | $ 20,000 | $ 40,000 | ||||||
Repayments of Long-term Debt | $ 12,000 | $ 8,000 | $ 25,000 | $ 15,000 | ||||
2018 Credit Agreement [Member] | ||||||||
Line of Credit Facility [Line Items] | ||||||||
Borrowing amount under term loan facility | 175,000 | |||||||
Sublimit for letters of credit | 25,000 | |||||||
Bridge Loan | 10,000 | |||||||
Line of credit facility expansion feature | 75,000 | |||||||
Payments of Debt Issuance Costs | $ 1,000 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 1,318,000 | ||
Minimum amount of employee contributions | $ 6,000 | ||
Percentage of eligible compensation | 6.00% | ||
Discretionary contribution amount | $ 0 | $ 0 | $ 0 |
U.S. Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage to defer up base compensation of employees | 25.00% | ||
Amount to defer up bonus compensation of employees | $ 500,000 | ||
Percentage to defer up eligible bonus compensation | 25.00% | ||
Amount of compensation deferred in plan | $ 23,800,000 | 18,300,000 | |
Percentage to defer up cash component of director's fees for non-employee [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage to defer up directors' fees | 100.00% | ||
Non-Employee Directors Voluntary Deferred Compensation Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amount of compensation deferred in plan | $ 1,600,000 | 1,100,000 | |
Qualified Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage for employee pre-tax and/or after-tax contributions, minimum | 1.00% | ||
Percentage for employee pre-tax and/or after-tax contributions, maximum | 50.00% | ||
Minimum amount of employee contributions | $ 6,000 | $ 6,000 | |
Percentage of eligible compensation | 6.00% | 6.00% | |
Defined Contribution Plan, Cost | $ 6,300,000 | $ 5,700,000 | $ 5,600,000 |
Pension Plan and Life Insuran_3
Pension Plan and Life Insurance Contract - Reconcile Benefit Obligation for Pension Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | $ 20,918 | $ 20,908 | $ 23,886 |
Defined Benefit Plan, Interest Cost | 338 | 373 | $ 362 |
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 1,506 | (886) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | (1,375) | (1,450) | |
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) | $ (459) | $ (1,015) |
Pension Plan and Life Insuran_4
Pension Plan and Life Insurance Contract - Benefit Obligation Amounts Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||
Liability, Pension and Other Postretirement and Postemployment Benefits, Current | $ 1,318 | $ 1,349 |
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent | 19,600 | 19,559 |
Liability, Defined Benefit Plan | $ 20,918 | $ 20,908 |
Pension Plan and Life Insuran_5
Pension Plan and Life Insurance Contract - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Interest Cost | $ 338 | $ 373 | $ 362 |
Defined Benefit Plan, Amortization of Gain (Loss) | 35 | 92 | 111 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 373 | $ 465 | $ 473 |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 1.71% | 1.64% | 1.49% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan Amounts in Accumulated Other Comprehensive Income Not Yet Recognized In Net Periodic Benefit Cost | $ 4,000 | $ 2,600 | |
Defined Benefit Plan, Plan Assets, Amount | 15,296 | $ 16,384 | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 1,318 |
Pension Plan and Life Insuran_6
Pension Plan and Life Insurance Contract - Assumptions to Determine Company's Benefit Obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Amounts in Accumulated Other Comprehensive Income Not Yet Recognized In Net Periodic Benefit Cost | $ 4,000 | $ 2,600 | |
Defined Benefit Plan, Plan Assets, Amount | $ 15,296 | $ 16,384 | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 1.71% | 1.64% | 1.49% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 1.03% | 1.71% | 1.64% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Measurement Date | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Pension Plan and Life Insuran_7
Pension Plan and Life Insurance Contract - Summary of Benefits Expected to Be Paid in Each of Next Five Years (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Retirement Benefits [Abstract] | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 1,318 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Two | 1,305 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Three | 1,288 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Four | 1,269 |
Defined Benefit Plan, Expected Future Benefit Payment, Year Five | 1,245 |
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter | $ 5,713 |
Stock-based Compensation - Addi
Stock-based Compensation - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 3 | $ 1.2 | |
Former Chief Executive Officer [Domain] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock Granted, Value, Share-based Compensation, Forfeited | 100.00% | ||
Percent of 2014 Stock Compensation to Continue Vesting | 100.00% | ||
Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units vesting period | 3 years | ||
Pre-tax unrecognized compensation expense | $ 11.4 | ||
Expected time to be recognized | 2 years 6 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 270,488 | 297,664 | |
Restricted Stock Units [Member] | Former Chief Executive Officer [Domain] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation, 2017 Grants Forfeited | 3935200.00% | ||
Share-based Compensation, 2014 Grants to Continue Vesting | 4166700.00% | ||
Share-based Compensation, 2015 and 2016 Grants to Continue Vesting | 9,948 | ||
Share-based Compensation, 2015 and 2016 Grants Forfeited | 28,903 | ||
Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax unrecognized compensation expense | $ 3.4 | ||
Expected time to be recognized | 1 year 10 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 81,661 | 102,138 | |
Performance Stock Units [Member] | Former Chief Executive Officer [Domain] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation, 2017 Grants Forfeited | 3935200.00% | ||
Share-based Compensation, 2015 and 2016 Grants to Continue Vesting | 50,007 | ||
Share-based Compensation, 2015 and 2016 Grants Forfeited | 26,246 | ||
Performance Stock Units [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units vesting period | 3 years | ||
Performance stock units, Expiration Period | 3 years | ||
Performance Stock Units [Member] | Minimum [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units, variation percentage | 0.00% | ||
Performance Stock Units [Member] | Maximum [Member] | Executive Officer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance stock units, variation percentage | 200.00% | ||
Phantom Share Units (PSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Pre-tax unrecognized compensation expense | $ 5.2 | ||
Expected time to be recognized | 3 years 3 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 154,387 | 111,673 | |
2012 Program [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 2,551,441 | ||
Shares available for future awards | 981,682 | ||
Number of forfeited awards under 2012 Program (in shares) | 683,123 |
Stock-based Compensation - Summ
Stock-based Compensation - Summary of Information with Respect to Stock-Based Compensation (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allocated Share-based Compensation Expense | $ 3,000,000 | $ 1,200,000 | |
Income tax benefit related to stock-based compensation included in net income | 3,529,000 | 2,674,000 | $ 1,948,000 |
Salaries and Employee Benefits [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost | 12,857,000 | 9,548,000 | 4,597,000 |
General and Administrative Expense [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost | $ 460,000 | $ 562,000 | $ 338,000 |
Stock-based Compensation - Rest
Stock-based Compensation - Restricted Stock Unit Activity (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 11.4 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of Stock Units, Beginning balance (in shares) | 512,446 | 491,154 |
Number of Stock Units, Granted (in shares) | 270,488 | 297,664 |
Number of Stock Units, Vested and converted to common stock (in shares) | (175,792) | (199,550) |
Number of Stock Units, Forfeited (in shares) | (8,154) | (76,822) |
Number of Stock Units, Ending balance (in shares) | 598,988 | 512,446 |
Weighted- Average Grant-date Fair Value | ||
Weighted-Average Grant-date Fair Value, Beginning balance (in dollars per share) | $ 28.83 | $ 21.92 |
Weighted-Average Grant-date Fair Value, Granted (in dollars per share) | 33.55 | 34.64 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock (in dollars per share) | 24.19 | 21.66 |
Weighted-Average Grant-date Fair Value, Forfeited (in dollars per share) | 34.29 | 25.76 |
Weighted-Average Grant-date Fair Value, Ending balance (in dollars per share) | $ 32.25 | $ 28.83 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months | |
Special Restricted Stock Unit [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Stock-based Compensation - Perf
Stock-based Compensation - Performance Stock Unit Activity (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 11.4 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of Stock Units, Beginning balance (in shares) | 512,446 | 491,154 |
Number of Stock Units, Granted (in shares) | 270,488 | 297,664 |
Number of Stock Units, Vested and converted to common stock (in shares) | (175,792) | (199,550) |
Number of Stock Units, Forfeited (in shares) | (8,154) | (76,822) |
Number of Stock Units, Ending balance (in shares) | 598,988 | 512,446 |
Weighted- Average Grant-date Fair Value | ||
Weighted-Average Grant-date Fair Value, Beginning balance (in dollars per share) | $ 28.83 | $ 21.92 |
Weighted-Average Grant-date Fair Value, Granted (in dollars per share) | 33.55 | 34.64 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock (in dollars per share) | 24.19 | 21.66 |
Weighted-Average Grant-date Fair Value, Forfeited (in dollars per share) | 34.29 | 25.76 |
Weighted-Average Grant-date Fair Value, Ending balance (in dollars per share) | $ 32.25 | $ 28.83 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months | |
Special Restricted Stock Unit [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |
Performance Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 3.4 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of Stock Units, Beginning balance (in shares) | 197,117 | 185,891 |
Number of Stock Units, Granted (in shares) | 81,661 | 102,138 |
Number of Stock Units, Vested and converted to common stock (in shares) | (99,219) | (43,361) |
Number of Stock Units, Forfeited (in shares) | 0 | (47,551) |
Number of Stock Units, Ending balance (in shares) | 179,559 | 197,117 |
Weighted- Average Grant-date Fair Value | ||
Weighted-Average Grant-date Fair Value, Beginning balance (in dollars per share) | $ 24.88 | $ 23.82 |
Weighted-Average Grant-date Fair Value, Granted (in dollars per share) | 35.58 | 25.81 |
Weighted-Average Grant-date Fair Value, Vested and converted to common stock (in dollars per share) | 25.04 | 23.64 |
Weighted-Average Grant-date Fair Value, Forfeited (in dollars per share) | 0 | 23.87 |
Weighted-Average Grant-date Fair Value, Ending balance (in dollars per share) | $ 32.63 | $ 24.88 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 10 months | |
Executive Officer [Member] | Performance Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Minimum [Member] | Executive Officer [Member] | Performance Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.00% | |
Maximum [Member] | Executive Officer [Member] | Performance Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 200.00% |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-based Compensation - Phantom Stock Unit Activity (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Nonvested Performance-based Phantom Units [Line Items] | |||
Allocated Share-based Compensation Expense | $ 3 | $ 1.2 | |
Performance Shares [Member] | |||
Schedule of Nonvested Performance-based Phantom Units [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 266,060 | 111,673 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 154,387 | 111,673 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0 | 0 |
Restructuring (Details)
Restructuring (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 4,130 | $ 0 | $ 15,666 |
Corporate, Non-Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 100 |
Restructuring Restructuring Cha
Restructuring Restructuring Charges Additional Details (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 4,130 | $ 0 | $ 15,666 |
Restructuring and Related Cost, Number of Positions Eliminated | 251 | ||
Employee Severance [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 4,130 | $ 13,065 | |
Other Professional and Consulting Fees [Domain] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 0 | 2,293 | |
Real Estate Related Expenses [Domain] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 0 | 308 | |
Operating Segments [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 28 | 0 | 5,450 |
Operating Segments [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 4,102 | 0 | 6,823 |
Operating Segments [Member] | Heidrick Consulting [Domain] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 0 | 0 | 3,393 |
Corporate, Non-Segment [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 100 | ||
Americas [Member] | Operating Segments [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 4,102 | 0 | 784 |
Europe Segment [Member] | Operating Segments [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | 0 | 0 | 3,993 |
Asia Pacific Segment [Member] | Operating Segments [Member] | Executive Search [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Charges | $ 0 | $ 0 | $ 2,046 |
Restructuring Restructuring C_2
Restructuring Restructuring Charges and Related Cash Payments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2019 | Dec. 31, 2016 | |
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | |||||
Restructuring Reserve | $ 1,286 | $ 13,025 | $ 3,245 | $ 0 | |
Restructuring Charges | $ 4,130 | 0 | 15,666 | ||
Payments for Restructuring | (2,213) | (9,930) | (2,486) | ||
Restructuring Charges, Non-cash Write-offs | 17 | (195) | 155 | ||
Other Restructuring Costs | (4) | 1,933 | |||
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | 55 | (71) | |||
Employee Severance [Member] | |||||
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | |||||
Restructuring Reserve | 1,269 | 11,866 | 3,245 | 0 | |
Restructuring Charges | 4,130 | 13,065 | |||
Payments for Restructuring | (2,213) | (8,689) | (1,199) | ||
Restructuring Charges, Non-cash Write-offs | 0 | 0 | 0 | ||
Other Restructuring Costs | (4) | 1,843 | |||
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | 55 | (65) | |||
Real Estate Related Expenses [Domain] | |||||
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | |||||
Restructuring Reserve | 0 | 0 | 148 | 0 | |
Restructuring Charges | 0 | 308 | |||
Payments for Restructuring | 0 | (248) | (5) | ||
Restructuring Charges, Non-cash Write-offs | 0 | (195) | 155 | ||
Other Restructuring Costs | 0 | 95 | |||
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | 0 | 0 | |||
Other Professional and Consulting Fees [Domain] | |||||
Schedule of Restructuring Charges and Related Cash Payments [Line Items] | |||||
Restructuring Reserve | 17 | 1,011 | $ 0 | $ 0 | |
Restructuring Charges | 0 | 2,293 | |||
Payments for Restructuring | 0 | (993) | (1,282) | ||
Restructuring Charges, Non-cash Write-offs | 17 | 0 | $ 0 | ||
Other Restructuring Costs | 0 | (5) | |||
Restructuring Reserve, Foreign Currency Translation Gain (Loss) | $ 0 | $ (6) |
Income Taxes - Sources of Incom
Income Taxes - Sources of Income before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 53,461 | $ 47,191 | $ (28,577) |
Foreign | 15,828 | 23,301 | (841) |
Income (loss) before income taxes | $ 69,289 | $ 70,492 | $ (29,418) |
Income Taxes - Provision for (B
Income Taxes - Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | |||
Federal | $ 11,311 | $ 12,311 | $ 10,107 |
State and local | 4,422 | 4,843 | 2,372 |
Foreign | 4,423 | 6,907 | 8,257 |
Current provision for income taxes | 20,156 | 24,061 | 20,736 |
Deferred | |||
Federal | 2,031 | 6,403 | 5,642 |
State and local | 698 | (354) | (2,951) |
Foreign | (465) | (8,913) | (4,210) |
Deferred provision (benefit) for income taxes | 2,264 | (2,864) | (1,519) |
Total provision for income taxes | $ 22,420 | $ 21,197 | $ 19,217 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Dec. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | |||||
Deferred Tax Liability, Not Eligible for Netting | $ 300 | $ 200 | |||
Statutory U.S. federal income tax rate | 21.00% | 35.00% | |||
Valuation allowance | $ 24,200 | 26,460 | |||
Foreign tax credit carryforwards | $ 6,493 | 8,163 | |||
Losses carried forward | Indefinitely or for periods ranging from five to twenty years | ||||
Unrecognized tax benefits | $ 130 | $ 1,128 | $ 740 | $ 1,100 | $ 1,038 |
Several statutes of limitation expected to close | 12 months | ||||
Accrued interest and penalties | $ 100 | ||||
Minimum [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Foreign tax credit carryforward expiring | 5 years | 5 years | |||
Operating loss carryforwards ranging period | 5 years | ||||
Maximum [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Foreign tax credit carryforward expiring | 20 years | 20 years | |||
Operating loss carryforwards ranging period | 20 years | ||||
Foreign Tax Authority [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating loss carryforward | $ 116,100 | $ 118,000 | |||
Net operating loss carryforward subject to valuation allowance | $ 76,900 | 59,800 | |||
Income tax examination years subject to examination | Years prior to 2014 | ||||
Deferred Tax Assets, Tax Credit Carryforwards | $ 6,500 | 8,200 | |||
Tax Credit Carryforward, Valuation Allowance | $ 6,500 | $ 8,200 | |||
Federal Tax Authority [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Income tax examination years subject to examination | 2015 through 2017 | ||||
State Tax Authority [Member] | |||||
Operating Loss Carryforwards [Line Items] | |||||
Income tax examination years subject to examination | 2015 through 2017 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |
Income tax provision (benefit) at the statutory U.S. federal rate | $ 14,551 | $ 14,803 | $ (10,296) |
State income tax provision (benefit), net of federal tax benefit | 3,509 | 3,242 | (593) |
Nondeductible expenses, net | 1,570 | 1,651 | 3,282 |
Foreign taxes (includes rate differential and changes in foreign valuation allowance) | 698 | (35) | 5,465 |
Release of valuation allowance | (117) | (43) | (3,200) |
U.S. tax on foreign operations | (2,550) | (1,628) | 0 |
Current/deferred true-up | (157) | (1,199) | 567 |
Effective Income Tax Reconciliation, Tax Reform | 0 | 0 | 23,732 |
Other, net | (184) | 1,150 | 260 |
Total provision for income taxes | $ 22,420 | $ 21,197 | $ 19,217 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred tax assets attributable to: | ||
Foreign net operating loss carryforwards | $ 17,940 | $ 18,259 |
Accrued compensation and employee benefits | 14,506 | 15,442 |
Deferred compensation | 17,110 | 15,587 |
Foreign tax credit carryforwards | 6,493 | 8,163 |
Accrued rent | 2,655 | 3,096 |
Other accrued expenses | 5,882 | 6,290 |
Deferred tax assets, after valuation allowance | 64,586 | 66,837 |
Valuation allowance | (24,200) | (26,460) |
Deferred tax assets, after valuation allowance | 40,386 | 40,377 |
Deferred tax liabilities attributable to: | ||
Goodwill | 5,440 | 2,203 |
Taxes provided on unremitted earnings | 0 | 765 |
Depreciation on property and equipment | 1,652 | 2,040 |
Other | 533 | 686 |
Deferred tax liabilities | 7,625 | 5,694 |
Net deferred tax assets | 32,761 | 34,683 |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 116,100 | 118,000 |
Deferred Tax Assets, Tax Credit Carryforwards | 6,500 | 8,200 |
Tax Credit Carryforward, Valuation Allowance | 6,500 | 8,200 |
Deferred tax liabilities attributable to: | ||
Operating Loss Carryforwards, Valuation Allowance | $ 76,900 | $ 59,800 |
Minimum [Member] | ||
Deferred tax liabilities attributable to: | ||
Foreign Tax Credit Carryforward Expiring Period | 5 years | 5 years |
Maximum [Member] | ||
Deferred tax liabilities attributable to: | ||
Foreign Tax Credit Carryforward Expiring Period | 20 years | 20 years |
Income Taxes - Reconciliation_2
Income Taxes - Reconciliation of Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unrecognized Tax Benefits Reconciliation [Roll Forward] | |||
Gross unrecognized tax benefits at January 1, | $ 1,128 | $ 740 | $ 1,038 |
Gross increases for tax positions of prior years | 389 | 608 | 167 |
Gross decreases for tax positions of prior years | (377) | 0 | 0 |
Settlements | (1,010) | (220) | (465) |
Lapse of statute of limitations | 0 | 0 | 0 |
Gross unrecognized tax benefits at December 31, | $ 130 | $ 1,128 | $ 740 |
Changes in Accumulated Other _3
Changes in Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income ("AOCI") by Component (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |
Beginning balance | $ 4,062 |
Ending balance | 3,824 |
Available-for-Sale Securities Adjustment [Member] | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |
Beginning balance | 0 |
Other comprehensive income before classification, net of tax | 13 |
Ending balance | 13 |
Foreign Currency Translation Adjustment [Member] | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |
Beginning balance | 5,258 |
Other comprehensive income before classification, net of tax | 844 |
Ending balance | 6,102 |
Pension Adjustment [Member] | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |
Beginning balance | (1,196) |
Other comprehensive income before classification, net of tax | (1,095) |
Ending balance | (2,291) |
AOCI Attributable to Parent [Member] | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |
Other comprehensive income before classification, net of tax | $ (238) |
Segment Information - Revenue,
Segment Information - Revenue, Operating Income, Depreciation and Amortization, and Capital Expenditures, by Segment (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Segment Reporting Information [Line Items] | |||
Revenue, Net of Reimbursements | $ 706,924 | $ 716,023 | $ 621,400 |
Revenue: | |||
Reimbursements Revenue | 18,690 | 19,632 | 18,656 |
Total revenue | 725,614 | 735,655 | 640,056 |
Operating income (loss) | |||
Operating (loss) income | 63,511 | 68,857 | (26,523) |
Depreciation and amortization | |||
Depreciation and amortization | 10,371 | 12,522 | 14,774 |
Capital expenditures | |||
Capital expenditures | $ 3,352 | 6,185 | 15,686 |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Number of Reportable Segments | 4 | ||
Operating income (loss) | |||
Operating (loss) income | $ 98,950 | 105,109 | 13,519 |
Depreciation and amortization | |||
Depreciation and amortization | 9,539 | 11,563 | 13,786 |
Capital expenditures | |||
Capital expenditures | 3,027 | 5,179 | 12,388 |
Corporate, Non-Segment [Member] | |||
Operating income (loss) | |||
Operating (loss) income | (35,439) | (36,252) | (40,042) |
Depreciation and amortization | |||
Depreciation and amortization | 832 | 959 | 988 |
Capital expenditures | |||
Capital expenditures | 325 | 1,006 | 3,298 |
Executive Search [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue, Net of Reimbursements | 646,352 | 652,891 | 552,044 |
Operating income (loss) | |||
Operating (loss) income | 117,449 | 118,728 | 75,887 |
Depreciation and amortization | |||
Depreciation and amortization | 8,460 | 9,986 | 9,687 |
Capital expenditures | |||
Capital expenditures | 2,486 | 4,598 | 11,216 |
Heidrick Consulting [Domain] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue, Net of Reimbursements | 60,572 | 63,132 | 69,356 |
Operating income (loss) | |||
Operating (loss) income | (18,499) | (13,619) | (62,368) |
Depreciation and amortization | |||
Depreciation and amortization | 1,079 | 1,577 | 4,099 |
Capital expenditures | |||
Capital expenditures | 541 | 581 | 1,172 |
Americas [Member] | Executive Search [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue, Net of Reimbursements | 415,455 | 405,267 | 339,793 |
Operating income (loss) | |||
Operating (loss) income | 100,833 | 96,880 | 75,337 |
Depreciation and amortization | |||
Depreciation and amortization | 4,204 | 4,605 | 4,794 |
Capital expenditures | |||
Capital expenditures | 1,121 | 601 | 7,123 |
Europe [Member] | Executive Search [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue, Net of Reimbursements | 135,070 | 145,348 | 125,346 |
Operating income (loss) | |||
Operating (loss) income | 3,026 | 5,849 | 13 |
Depreciation and amortization | |||
Depreciation and amortization | 2,784 | 3,735 | 3,328 |
Capital expenditures | |||
Capital expenditures | 1,070 | 3,557 | 1,460 |
Asia Pacific [Member] | Executive Search [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue, Net of Reimbursements | 95,827 | 102,276 | 86,905 |
Operating income (loss) | |||
Operating (loss) income | 13,590 | 15,999 | 537 |
Depreciation and amortization | |||
Depreciation and amortization | 1,472 | 1,646 | 1,565 |
Capital expenditures | |||
Capital expenditures | $ 295 | $ 440 | $ 2,633 |
Segment Information - Identifia
Segment Information - Identifiable Assets, Goodwill and Other Intangible Assets, Net, by Segment (Detail) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Total allocated current assets | $ 494,482 | $ 450,867 |
Unallocated non-current assets | 220,925 | 125,454 |
Intangible Assets, Net (Including Goodwill) | 128,766 | 124,308 |
Goodwill and other intangible assets, net | ||
Assets | 844,173 | 700,629 |
Operating Segments [Member] | ||
Current assets: | ||
Total allocated current assets | 492,643 | 449,587 |
Corporate, Non-Segment [Member] | ||
Current assets: | ||
Total allocated current assets | 1,839 | 1,280 |
Executive Search [Member] | Operating Segments [Member] | ||
Current assets: | ||
Total allocated current assets | 462,015 | 415,413 |
Intangible Assets, Net (Including Goodwill) | 128,766 | 124,308 |
Heidrick Consulting [Domain] | Operating Segments [Member] | ||
Current assets: | ||
Total allocated current assets | 30,628 | 34,174 |
Intangible Assets, Net (Including Goodwill) | 0 | 0 |
Americas [Member] | Executive Search [Member] | Operating Segments [Member] | ||
Current assets: | ||
Total allocated current assets | 286,818 | 255,889 |
Intangible Assets, Net (Including Goodwill) | 93,054 | 88,462 |
Europe [Member] | Executive Search [Member] | Operating Segments [Member] | ||
Current assets: | ||
Total allocated current assets | 96,230 | 85,355 |
Intangible Assets, Net (Including Goodwill) | 26,893 | 27,010 |
Asia Pacific [Member] | Executive Search [Member] | Operating Segments [Member] | ||
Current assets: | ||
Total allocated current assets | 78,967 | 74,169 |
Intangible Assets, Net (Including Goodwill) | $ 8,819 | $ 8,836 |
Guarantees - Additional Informa
Guarantees - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Guarantees [Abstract] | |
Extend termination dates of the leases | extend through 2030 |
Maximum undiscounted payments under outstanding guarantees | $ 2.5 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies, Lease Expiration Period (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies, Lease Expiration Period [Abstract] | |
Lease Expiration Period Description | Through 2026 |
Sublease Expiration Period | Through 2019 |
Uncategorized Items - hsii-2019
Label | Element | Value |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 165,570,000 |