HSII · As filed with the SEC

Heidrick & Struggles International cash flow statement, by quarter

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.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS · USD thousands

USD thousands	Q3 2025^† 3 months ended Sep 30, 2025	Q2 2025^† 3 months ended Jun 30, 2025	Q1 2025 3 months ended Mar 31, 2025	Q4 2024^† 3 months ended Dec 31, 2024
Cash flows - operating activities
Net income	17,646^†	21,073^†	13,306	(14,976)^†
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	5,383^†	5,015^†	4,847	5,207^†
Deferred income taxes	(198)^†	509^†	(1,883)	(17,361)^†
Stock-based compensation expense	2,919^†	3,987^†	2,510	2,824^†
Accretion expense related to earnout payments	517^†	536^†	481	513^†
Gain on marketable securities	(1,810)^†	(1,702)^†	(948)	(340)^†
Loss on disposal of property and equipment	16^†	19^†	7	190^†
Impairment charges	0^†	—	—	43,254^†
Changes in assets and liabilities:
Accounts receivable	5,226^†	(23,178)^†	(45,609)	47,187^†
Accounts payable	(4,804)^†	980^†	(2,510)	4,522^†
Accrued expenses	114,826^†	72,256^†	(199,320)	88,403^†
Restructuring accrual	(456)^†	(461)^†	(964)	(484)^†
Deferred revenue	(2,343)^†	1,628^†	4,347	5,109^†
Income taxes recoverable and payable, net	2,328^†	(11,471)^†	1,846	11,979^†
Retirement and pension plan assets and liabilities	(701)^†	(702)^†	6,732	(364)^†
Prepaid expenses	(1,346)^†	4,097^†	(4,673)	(1,479)^†
Other assets and liabilities, net	(2,524)^†	(3,976)^†	(10,393)	2,609^†
Net cash used in operating activities	134,679^†	68,610^†	(232,224)	176,793^†
Cash flows - investing activities
Acquisition of businesses, net of cash acquired	—	—	—	0^†
Capital expenditures	(5,501)^†	(3,906)^†	(2,734)	(3,273)^†
Purchases of marketable securities and investments	(66,089)^†	(177,487)^†	(118,719)	(48,003)^†
Proceeds from sales of marketable securities and investments	183,408^†	104,106^†	48,325	46,237^†
Net cash used in investing activities	111,818^†	(77,287)^†	(73,128)	(5,039)^†
Cash flows - financing activities
Debt issuance costs	0^†	0^†	(360)	—
Cash dividends paid	(3,258)^†	(3,251)^†	(3,196)	(3,314)^†
Payment of employee tax withholdings on equity transactions	(317)^†	(887)^†	(2,889)	(17)^†
Repurchases of common stock	—	—	—	0^†
Acquisition earnout payments	—	—	—	0^†
Net cash used in financing activities	(3,575)^†	(4,138)^†	(6,445)	(3,331)^†
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash	545^†	12,119^†	8,122	(16,032)^†
Net decrease in cash, cash equivalents and restricted cash	243,467^†	(696)^†	(303,675)	152,391^†
Cash, cash equivalents and restricted cash at beginning of period	211,442	212,138	515,813	363,422
Cash, cash equivalents and restricted cash at end of period	454,909	211,442	212,138	515,813

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.