HSII · As filed with the SEC
Heidrick & Struggles International cash flow statement, by fiscal year
The statement as Heidrick & Struggles International presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash flows - operating activities | ||||||||
| Net income | 8,728 | 54,410 | 79,486 | 72,572 | (37,707) | 46,869 | 49,295 | (48,635) |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||
| Depreciation and amortization | 18,857 | 18,508 | 10,603 | 19,560 | 26,656 | 10,371 | 12,522 | 14,774 |
| Provision for income taxes | — | — | — | 33,457 | 6,309 | — | — | — |
| Deferred income taxes | (19,421) | 11,900 | 7,088 | (7,481) | (1,680) | 1,644 | (3,496) | (1,690) |
| Stock-based compensation expense | 12,725 | 10,830 | 16,689 | 12,760 | 10,199 | 10,298 | 8,947 | 4,935 |
| Accretion expense related to earnout payments | 1,926 | 1,554 | 820 | 486 | 0 | 668 | 1,285 | 1,038 |
| Impairment charges | 59,478 | 7,246 | 0 | 0 | 32,970 | — | — | — |
| Gain on marketable securities | — | — | (2,406) | (1) | (154) | (595) | — | — |
| Gain on marketable securities | (2,663) | (2,918) | — | — | — | — | — | — |
| Loss on disposal of property and equipment | 454 | 209 | 392 | 135 | 287 | — | — | — |
| Accounts receivable | — | — | — | — | — | 6,899 | 16,759 | 1,882 |
| Accounts payable | — | — | — | — | — | (994) | (526) | 1,474 |
| Accounts receivable | (4,520) | 6,913 | 4,522 | (36,819) | 22,644 | — | — | — |
| Accounts payable | 4,625 | (131) | (5,731) | (332) | 451 | — | — | — |
| Cash paid for restructuring charges | — | — | — | — | — | 0 | 0 | (50,722) |
| Accrued expenses | 47,031 | (145,118) | 32,892 | 230,177 | (26,513) | 2,441 | 71,526 | 18,330 |
| Restructuring accrual | — | 0 | 0 | (5,061) | 2,479 | — | — | — |
| Restructuring accrual | 2,506 | — | — | — | — | — | — | — |
| Deferred revenue | 6,272 | 2,035 | (7,237) | 12,783 | (3,688) | 175 | (1,899) | 2,010 |
| Income taxes recoverable (payable), net | 12,326 | (6,692) | (13,606) | 11,377 | (4,016) | (5,450) | 757 | 3,381 |
| Retirement and pension plan assets and liabilities | 6,021 | 7,493 | (479) | 1,145 | 1,794 | 3,258 | (1,492) | 3,065 |
| Prepaid expenses | (5,536) | 1,233 | (2,850) | 2,776 | (1,642) | (455) | 893 | (797) |
| Other assets and liabilities, net | 1,622 | 5,736 | (895) | 37,124 | 2,011 | 1,557 | 4,748 | (5,626) |
| Net cash provided by (used in) operating activities | 150,431 | (26,792) | 119,288 | 271,401 | 23,353 | 78,645 | — | — |
| Changes in Restructuring Accrual | — | — | — | — | — | 1,959 | (11,617) | 13,025 |
| Net cash provided by operating activities | — | — | — | — | — | — | 102,902 | 66,970 |
| Restricted cash | — | — | — | — | — | — | — | (3) |
| Acquisition of businesses, net of cash acquired | — | — | 0 | 33,518 | 0 | (3,520) | (3,083) | (364) |
| Cash flows - investing activities | ||||||||
| Acquisition of businesses, net of cash acquired | 0 | (49,858) | — | — | — | — | — | — |
| Capital expenditures | (26,315) | (13,433) | (11,134) | (6,240) | (7,322) | (3,352) | (5,960) | (14,022) |
| Purchases of available for sale investments | — | — | — | (2,323) | (118,904) | (130,411) | (2,201) | (2,269) |
| Proceeds from sale of available for sale investments | — | — | — | 20,822 | 158,852 | 67,968 | 2,995 | 1,404 |
| Purchases of available for sale investments | — | — | (269,824) | — | — | — | — | — |
| Proceeds from sale of available for sale investments | — | — | 1,359 | — | — | — | — | — |
| Purchases of available for sale investments | (163,611) | (140,982) | — | — | — | — | — | — |
| Proceeds from sale of available for sale investments | 175,307 | 337,872 | — | — | — | — | — | — |
| Net cash provided by (used in) investing activities | (14,619) | 133,599 | (279,599) | (21,259) | 32,626 | (69,315) | — | — |
| Net cash provided by (used in) investing activities | — | — | — | — | — | — | (8,249) | (15,254) |
| Proceeds from line of credit | — | — | 0 | 0 | 100,000 | 0 | 20,000 | 40,000 |
| Payments on line of credit | — | — | 0 | 0 | (100,000) | 0 | (20,000) | (40,000) |
| Debt issuance costs | — | — | — | — | 0 | 0 | (981) | 0 |
| Cash flows - financing activities | ||||||||
| Cash dividends paid | (12,923) | (12,537) | (12,466) | (12,377) | (12,063) | (11,835) | (10,181) | (10,111) |
| Payment of employee tax withholding on equity transactions | (3,817) | (4,141) | (3,219) | (3,140) | (1,550) | (4,552) | (2,234) | (2,392) |
| Repurchases of common stock | 0 | (904) | — | — | — | — | — | — |
| Acquisition earnout payments | 0 | (35,946) | 0 | 0 | (2,789) | — | — | — |
| Net cash used in financing activities | (16,740) | (53,528) | (15,685) | (15,517) | (16,402) | (18,240) | — | — |
| Acquisition earnout payments | — | — | — | — | — | (1,853) | (3,592) | (4,557) |
| Net cash used in financing activities | — | — | — | — | — | — | (16,988) | (17,060) |
| Effect of exchange rates fluctuations on cash and cash equivalents | — | — | — | — | — | — | — | 7,867 |
| Net increase (decrease) in cash and cash equivalents | — | — | — | — | — | — | — | 42,523 |
| Cash and cash equivalents at beginning of period | — | — | 545,225 | 316,473 | 271,719 | 279,906 | 207,534 | 165,011 |
| Effect of exchange rates fluctuations on cash, cash equivalents and restricted cash | (15,877) | 3,850 | (13,774) | (5,855) | 5,193 | 367 | (5,565) | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 103,195 | 57,129 | (189,770) | 228,770 | 44,770 | (8,543) | 72,100 | — |
| Cash, cash equivalents and restricted cash at end of period | — | — | — | 545,225 | 316,473 | 271,719 | 279,906 | 207,534 |
| Term loan facility retirement | — | — | — | — | — | — | — | 0 |
| Subsequent drawing on line of credit | — | — | — | — | — | — | — | 0 |
| Cash, cash equivalents and restricted cash at beginning of period | 412,618 | 355,489 | 545,259 | 316,489 | — | — | — | — |
| Cash, cash equivalents and restricted cash at end of period | 515,813 | 412,618 | 355,489 | — | — | — | — | — |
| Supplemental disclosures of cash flow information | ||||||||
| Cash paid for | ||||||||
| Income taxes | 26,125 | 22,137 | 41.91 | 28.62 | 12.15 | 27,338 | 22,616 | 14,814 |
| Interest | — | — | — | — | — | 0 | 67 | 193 |
| Interest | — | — | 0 | 0 | 761 | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.