2012 Q2 Form 10-K Financial Statement

#000119312512280691 Filed on June 22, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2 2011 Q1
Revenue $198.1M $197.3M $186.5M
YoY Change 0.4% 11.53% 21.97%
Cost Of Revenue $14.30M $13.70M $12.80M
YoY Change 4.38% 1.48% 30.61%
Gross Profit $193.3M $192.1M $181.4M
YoY Change 0.62% 17.56% 26.76%
Gross Profit Margin 97.58% 97.37% 97.27%
Selling, General & Admin $174.3M $162.5M $157.6M
YoY Change 7.26% 10.77% 17.35%
% of Gross Profit 90.17% 84.59% 86.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.600M $3.300M $3.300M
YoY Change 9.09% 6.45% 22.22%
% of Gross Profit 1.86% 1.72% 1.82%
Operating Expenses $177.9M $165.8M $160.8M
YoY Change 7.3% 10.75% 17.29%
Operating Profit $15.35M $26.25M $20.49M
YoY Change -41.51% 91.58% 241.53%
Interest Expense -$500.0K -$100.0K -$400.0K
YoY Change 400.0% -88.89% 0.0%
% of Operating Profit -3.26% -0.38% -1.95%
Other Income/Expense, Net $2.800M $3.100M $1.900M
YoY Change -9.68% 3.33% 46.15%
Pretax Income $17.60M $29.30M $22.00M
YoY Change -39.93% 86.62% 201.37%
Income Tax $6.200M $9.300M $8.600M
% Of Pretax Income 35.23% 31.74% 39.09%
Net Earnings $12.03M $20.34M $13.98M
YoY Change -40.86% 128.53% 76.9%
Net Earnings / Revenue 6.07% 10.31% 7.49%
Basic Earnings Per Share $0.26 $0.45 $0.31
Diluted Earnings Per Share $0.25 $0.43 $0.30
COMMON SHARES
Basic Shares Outstanding 47.96M shares 45.35M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q2 2011 Q2 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $417.7M $369.1M $201.3M
YoY Change 13.18% 65.29% 12.02%
Cash & Equivalents $282.0M $246.9M $181.3M
Short-Term Investments $135.7M $122.2M $19.90M
Other Short-Term Assets $38.60M $39.90M $44.20M
YoY Change -3.26% -9.32% -6.16%
Inventory
Prepaid Expenses
Receivables $126.6M $128.9M $137.4M
Other Receivables $11.90M $5.100M $11.90M
Total Short-Term Assets $500.1M $441.6M $394.7M
YoY Change 13.24% 15.94% 15.61%
LONG-TERM ASSETS
Property, Plant & Equipment $49.81M $43.14M $39.90M
YoY Change 15.45% 72.82% 55.86%
Goodwill $176.3M $184.0M
YoY Change -4.14% 6.78%
Intangibles $20.41M $22.29M
YoY Change -8.42%
Long-Term Investments $132.9M $145.3M $136.6M
YoY Change -8.53% 53.27% 55.58%
Other Assets $135.1M $135.4M $135.6M
YoY Change -0.22% 5.12% 16.6%
Total Long-Term Assets $514.6M $530.1M $512.8M
YoY Change -2.92% 18.8% 20.15%
TOTAL ASSETS
Total Short-Term Assets $500.1M $441.6M $394.7M
Total Long-Term Assets $514.6M $530.1M $512.8M
Total Assets $1.015B $971.7M $907.5M
YoY Change 4.43% 17.48% 18.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.67M $12.50M $11.10M
YoY Change 17.3% 12.65% 5.71%
Accrued Expenses $184.8M $216.7M $188.3M
YoY Change -14.72% 19.99% 28.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $221.7M $233.9M $211.2M
YoY Change -5.19% 18.05% 30.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.91M $19.92M $153.1M
YoY Change 4.99% -85.53% 21.7%
Total Long-Term Liabilities $20.91M $19.92M $153.1M
YoY Change 4.99% -85.53% 21.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $221.7M $233.9M $211.2M
Total Long-Term Liabilities $20.91M $19.92M $153.1M
Total Liabilities $385.2M $393.3M $364.3M
YoY Change -2.07% 17.14% 26.89%
SHAREHOLDERS EQUITY
Retained Earnings $202.8M $148.5M
YoY Change 36.57%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $629.5M $578.3M $543.3M
YoY Change
Total Liabilities & Shareholders Equity $1.015B $971.7M $907.5M
YoY Change 4.43% 17.48% 18.13%

Cashflow Statement

Concept 2012 Q2 2011 Q2 2011 Q1
OPERATING ACTIVITIES
Net Income $12.03M $20.34M $13.98M
YoY Change -40.86% 128.53% 76.9%
Depreciation, Depletion And Amortization $3.600M $3.300M $3.300M
YoY Change 9.09% 6.45% 22.22%
Cash From Operating Activities $67.10M $69.00M $34.30M
YoY Change -2.75% 72.5% -1815.0%
INVESTING ACTIVITIES
Capital Expenditures -$5.200M -$5.500M -$5.100M
YoY Change -5.45% 89.66% 200.0%
Acquisitions
YoY Change
Other Investing Activities $500.0K -$9.700M -$7.200M
YoY Change -105.15% 1516.67% 46.94%
Cash From Investing Activities -$4.600M -$15.20M -$12.40M
YoY Change -69.74% 347.06% 87.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 900.0K 6.300M 7.700M
YoY Change -85.71% 96.88% 250.0%
NET CHANGE
Cash From Operating Activities 67.10M 69.00M 34.30M
Cash From Investing Activities -4.600M -15.20M -12.40M
Cash From Financing Activities 900.0K 6.300M 7.700M
Net Change In Cash 63.40M 60.10M 29.60M
YoY Change 5.49% 51.01% -562.5%
FREE CASH FLOW
Cash From Operating Activities $67.10M $69.00M $34.30M
Capital Expenditures -$5.200M -$5.500M -$5.100M
Free Cash Flow $72.30M $74.50M $39.40M
YoY Change -2.95% 73.66% -13233.33%

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CY2011 us-gaap Deferred Income Tax Expense Benefit
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2011 us-gaap Nonoperating Income Expense
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CY2011 us-gaap Increase Decrease In Receivables
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28140000
CY2011 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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2131000
CY2011 us-gaap Current Federal Tax Expense Benefit
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7606000
CY2011 us-gaap Goodwill Translation Adjustments
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CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2011 us-gaap Goodwill Impairment Loss
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CY2011 us-gaap Increase Decrease In Accrued Income Taxes Payable
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1702000
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32400000
CY2011 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
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4919000
CY2011 us-gaap Allocated Share Based Compensation Expense
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15547000
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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390000 shares
CY2011 us-gaap Finite Lived Intangible Assets Amortization Expense
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2400000
CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
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830000
CY2011 us-gaap Depreciation Depletion And Amortization
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12671000
CY2011 us-gaap Deferred Foreign Income Tax Expense Benefit
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9158000
CY2011 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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28618000
CY2011 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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425000 shares
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1473000
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10084000
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27889000
CY2011 us-gaap Earnings Per Share Basic
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1.30
CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.048 pure
CY2011 us-gaap Labor And Related Expense
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507405000
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85785000
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CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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5675000
CY2011 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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72000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm
5.00 Year
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
32692000
CY2011 us-gaap Weighted Average Number Of Shares Restricted Stock
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646000 shares
CY2011 kfy Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options And Stock Appreciation Rights Vested In Period Total Fair Values
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747000
CY2011 kfy Share Based Compensation Arrangement By Share Based Payment Award Options Total Intrinsic Value Of Stock Appreciation Rights Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTotalIntrinsicValueOfStockAppreciationRightsPaid
178000
CY2011 kfy Performance Related Bonus After Reduction In Previous Year Estimate
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126300000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
27623000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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56741000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
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45205000 shares
CY2011 us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
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7599000
CY2011 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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7171000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0000 pure
CY2011 us-gaap Interest Paid
InterestPaid
4834000
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
25146000
CY2011 kfy Performance Related Bonus Expenses
PerformanceRelatedBonusExpenses
128300000
CY2011 kfy Change In Current And Deferred Income Taxes
ChangeInCurrentAndDeferredIncomeTaxes
5954000
CY2011 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1862000
CY2011 us-gaap Operating Expenses
OperatingExpenses
690466000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
35000
CY2011 us-gaap Payments Of Dividends
PaymentsOfDividends
600000
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.364 pure
CY2011 us-gaap Goodwill Other Changes
GoodwillOtherChanges
-3000000
CY2011 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
13844000
CY2011 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
116494000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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46280000 shares
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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5949000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Other
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0.023 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.046 pure
CY2011 us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
11497000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4767 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
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0.019 pure
CY2011 us-gaap Proceeds From Issuance Of Secured Debt
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6039000
CY2011 us-gaap Restructuring Reserve Translation Adjustment
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479000
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2011 kfy Increase Decrease In Performance Related Bonus Expenses
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2000000
CY2011 kfy Gain Loss On Cash Surrender Value Of Life Insurance Policies
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7218000
CY2011 kfy Payment Of Earnouts From Acquisitions
PaymentOfEarnoutsFromAcquisitions
5795000
CY2011 kfy Weighted Average Number Shares Employee Stock Purchase Plan
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4000 shares
CY2011 kfy Foreign Currency Transaction Gain After Tax
ForeignCurrencyTransactionGainAfterTax
100000
CY2011 kfy Change In Discount Rate
ChangeInDiscountRate
5.61% to 4.94%
CY2011 kfy Stock Issued During Period Value Warrant Exercises
StockIssuedDuringPeriodValueWarrantExercises
2983000
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Trading Symbol
TradingSymbol
KFY
CY2012 dei Entity Registrant Name
EntityRegistrantName
KORN FERRY INTERNATIONAL
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-04-30
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0000056679
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-30
CY2012 us-gaap Cost Of Reimbursable Expense
CostOfReimbursableExpense
55889000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13475000
CY2012 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
3200000
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4215000
CY2012 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
1664000
CY2012 us-gaap Future Amortization Expense Year Two
FutureAmortizationExpenseYearTwo
2119000
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
7281000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
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CY2012 us-gaap Availableforsale Securities Debt Maturity Date Range Low
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One
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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1485000
CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPeriodIncreaseDecrease
8800000
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
17916000
CY2012 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
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-12826000
CY2012 us-gaap Revenues
Revenues
826759000
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0
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0.008 pure
CY2012 us-gaap Restructuring Charges
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0147 pure
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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70975000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
35834000
CY2012 us-gaap Gain Loss On Disposition Of Assets
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65000
CY2012 us-gaap Reimbursement Revenue
ReimbursementRevenue
36254000
CY2012 us-gaap Future Amortization Expense Year Five
FutureAmortizationExpenseYearFive
980000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
80804000
CY2012 us-gaap Equity Method Investment Dividends Or Distributions
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1669000
CY2012 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4371000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
38429000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1609000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
13399000
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.15
CY2012 us-gaap Finite Lived Intangible Assets Useful Life Maximum
FiniteLivedIntangibleAssetsUsefulLifeMaximum
24 Year
CY2012 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-2194000
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
12670000
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CY2012 us-gaap Increase Decrease In Deferred Compensation
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3787000
CY2012 us-gaap Payments To Acquire Marketable Securities
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55718000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2012 us-gaap Interest Expense
InterestExpense
1791000
CY2012 us-gaap Increase Decrease In Receivables
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10891000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9899000
CY2012 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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8698000
CY2012 us-gaap Increase Decrease In Restricted Cash
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221000
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CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
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CY2012 us-gaap Provision For Doubtful Accounts
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5732000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2012 us-gaap Net Income Loss
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CY2012 us-gaap Current Federal Tax Expense Benefit
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CY2012 us-gaap Availableforsale Securities Debt Maturity Date Range High
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2.8
CY2012 us-gaap Goodwill Translation Adjustments
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CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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1664000
CY2012 us-gaap Goodwill Impairment Loss
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0
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
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CY2012 us-gaap Line Of Credit Facility Expiration Date
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March 14, 2014
CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4058000
CY2012 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
1739000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
35500000
CY2012 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
2196000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13399000
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
570000 shares
CY2012 us-gaap Finite Lived Intangible Assets Amortization Expense
FiniteLivedIntangibleAssetsAmortizationExpense
2200000
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3508000
CY2012 us-gaap Depreciation Depletion And Amortization
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14017000
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2183000
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2012 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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43181000
CY2012 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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267000 shares
CY2012 us-gaap Goodwill Acquired During Period
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343000
CY2012 us-gaap Stock Issued During Period Value New Issues
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4371000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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18632000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.17
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.007 pure
CY2012 us-gaap Payments To Acquire Intangible Assets
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325000
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534186000
CY2012 us-gaap Operating Income Loss
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82866000
CY2012 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates and Uncertainties</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates, and changes in estimates are reported in current operations as new information is learned or upon the amounts becoming fixed and determinable. The most significant areas that require management judgment are revenue recognition, restructuring, deferred compensation, annual performance related bonus, evaluation of the carrying value of receivables, marketable securities, goodwill and other intangible assets, fair value of contingent consideration and the recoverability of deferred income taxes.</font></p> </div>
CY2012 us-gaap Finite Lived Intangible Assets Useful Life Minimum
FiniteLivedIntangibleAssetsUsefulLifeMinimum
3 Year
CY2012 us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
1013000
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-4985000
CY2012 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
790505000
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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4701000
CY2012 us-gaap Future Amortization Expense Year Three
FutureAmortizationExpenseYearThree
1855000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
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-7242000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28351000
CY2012 us-gaap Weighted Average Number Of Shares Restricted Stock
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582000 shares
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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35149000
CY2012 us-gaap Lease Expiration Date
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2026
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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42375000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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46397000 shares
CY2012 us-gaap Finite Lived Intangible Assets Weighted Average Useful Life
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16 Year
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0000 pure
CY2012 us-gaap Future Amortization Expense After Year Five
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7892000
CY2012 us-gaap Interest Paid
InterestPaid
4480000
CY2012 us-gaap Operating Expenses
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743893000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
18452000
CY2012 us-gaap Finite Lived Intangible Assets Future Amortization Expense
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16623000
CY2012 us-gaap Income Loss From Equity Method Investments
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1850000
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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1000
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
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0.351 pure
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
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4215000
CY2012 us-gaap Debt Instrument Covenant Description
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The Facility is secured by substantially all of the assets of the Company’s domestic subsidiaries and 65% of the equity interest in all the first tier foreign subsidiaries. The financial covenants include a maximum consolidated leverage ratio, a minimum consolidated fixed charge coverage ratio and a minimum $30 million in unrestricted cash and/or marketable securities after taking into account the accrual for employee compensation and benefits.
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
138872000
CY2012 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
586000
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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47261000 shares
CY2012 us-gaap Other Payments To Acquire Businesses
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800000
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
442000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2186000
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.040 pure
CY2012 us-gaap Future Amortization Expense Year Four
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1594000
CY2012 us-gaap Restructuring Reserve Settled With Cash
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2910000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4707 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.030 pure
CY2012 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
366000
CY2012 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-170000
CY2012 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
Borrowings under the Facility bear interest, at the election of the Company, at the London Interbank Offered Rate (“LIBOR”) plus applicable margin or the base rate plus applicable margin. The base rate is the highest of (i) the published prime rate, (ii) the federal funds rate plus 0.50%, or (iii) one month LIBOR plus 2.0%. The applicable margin is based on a percentage per annum determined in accordance with a specified pricing grid based on (a) the total funded debt ratio of the Company and (b) with respect to LIBOR loans, whether such LIBOR loans are cash collateralized. For cash collateralized LIBOR loans, the applicable margin will range from 0.65% to 3.15% per annum. For LIBOR loans that are not cash collateralized and for based rate loans, the applicable margin will range from 1.50% to 4.50% per annum (if using LIBOR) and from 1.50% to 4.75% per annum (if using base rate).
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2012 kfy Collateral For Standby Letters Of Credit
CollateralForStandbyLettersOfCredit
10000000
CY2012 kfy Increase Decrease In Performance Related Bonus Expenses
IncreaseDecreaseInPerformanceRelatedBonusExpenses
1200000
CY2012 kfy Gain Loss On Cash Surrender Value Of Life Insurance Policies
GainLossOnCashSurrenderValueOfLifeInsurancePolicies
6268000
CY2012 kfy Weighted Average Number Shares Employee Stock Purchase Plan
WeightedAverageNumberSharesEmployeeStockPurchasePlan
15000 shares
CY2012 kfy Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options And Stock Appreciation Rights Vested In Period Total Fair Values
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOptionsAndStockAppreciationRightsVestedInPeriodTotalFairValues
1065000
CY2012 kfy Share Based Compensation Arrangement By Share Based Payment Award Options Total Intrinsic Value Of Stock Appreciation Rights Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTotalIntrinsicValueOfStockAppreciationRightsPaid
45000
CY2012 kfy Line Of Credit Facility Financial Covenant
LineOfCreditFacilityFinancialCovenant
30000000
CY2012 kfy Performance Related Bonus After Reduction In Previous Year Estimate
PerformanceRelatedBonusAfterReductionInPreviousYearEstimate
115600000
CY2012 kfy Performance Related Bonus Expenses
PerformanceRelatedBonusExpenses
116800000
CY2012 kfy Line Of Credit Facility Percentage Of Equity Interest As Collateral
LineOfCreditFacilityPercentageOfEquityInterestAsCollateral
0.65 pure
CY2012 kfy Change In Current And Deferred Income Taxes
ChangeInCurrentAndDeferredIncomeTaxes
6512000
CY2012 kfy Foreign Currency Transaction Loss After Tax
ForeignCurrencyTransactionLossAfterTax
1600000
CY2012 kfy Change In Discount Rate
ChangeInDiscountRate
4.94% to 3.79%
CY2012 kfy Maximum Amount To Be Paid To Executive Officers Under Absence Of Change Of Control
MaximumAmountToBePaidToExecutiveOfficersUnderAbsenceOfChangeOfControl
6100000
CY2012 kfy Maximum Amount To Be Paid To Executive Officers Under Change Of Control
MaximumAmountToBePaidToExecutiveOfficersUnderChangeOfControl
9000000
CY2012 kfy Debt Instrument Expiration Period
DebtInstrumentExpirationPeriod
1 Year
CY2012 kfy Earn Out Payments Eligible By Employees
EarnOutPaymentsEligibleByEmployees
1900000
CY2012 kfy Employment Agreement Contracts Description
EmploymentAgreementContractsDescription
The Company has a policy of entering into offer letters of employment or letters of promotion with vice presidents which provide for an annual base salary and discretionary and incentive bonus payments. Certain key vice presidents who typically have been employed by the Company for several years may also have a standard form employment agreement. In addition, the Company has a severance policy for all of its vice presidents that provides for minimum payments based on length of service. Upon termination without cause, the Company is required to pay the greater of the amount due under the employment agreement, if any, or the severance policy. The Company also requires its vice presidents to agree in their employment letters and their employment agreement, if applicable, not to compete with the Company both during the term of their employment, and for a period of up to two years after their employment ends. For a period of two years after their employment with the Company, former vice presidents are prohibited from soliciting employees of the Company for employment outside of the Company.
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
20339000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
26246000
CY2011Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
197298000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
12028000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
15352000
CY2012Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
198087000
CY2010Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2010Q3 us-gaap Net Income Loss
NetIncomeLoss
10904000
CY2010Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2010Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
19272000
CY2010Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
175112000
CY2010Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2010Q4 us-gaap Net Income Loss
NetIncomeLoss
13656000
CY2010Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2010Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
19775000
CY2010Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
185350000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
13975000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20492000
CY2011Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
186489000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
15411000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
25942000
CY2011Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
206331000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
15147000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
25407000
CY2011Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
200136000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
11717000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
16165000
CY2012Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
185951000

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