0001289848-24-000172 | 10-Q | XBRL Viewer | Huron Consulting Group INC

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New Accounting Policies	6 Months Ended
New Accounting Policies	Jun. 30, 2024
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Not Yet Adopted On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which updates the segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an interim and annual basis. ASU 2023-07 will be effective for our annual reporting periods beginning with the current fiscal year ending December 31, 2024 and for interim reporting periods beginning in fiscal year 2025, with early adoption permitted, and is required to be applied retrospectively. We expect to adopt ASU 2023-07 for our annual reporting period ending December 31, 2024 on a retrospective basis. We expect the adoption will have no impact on our financial position or our results of operations, but will result in additional disclosures. On December 14, 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which updates annual income tax disclosures by requiring disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 will be effective for our annual reporting periods beginning with the fiscal year ending December 31, 2025, with early adoption permitted, and is required to be applied prospectively with the option of retrospective application. We expect the adoption will have no impact on our financial position or our results of operations, but will result in additional disclosures. On March 6, 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which will require registrants to disclose certain climate-related information in registration statements and annual reports. The disclosure requirements will be effective for our annual reporting periods beginning with the fiscal year ending December 31, 2025, subject to any delay which may result from the current administrative stay issued by the SEC. We expect the adoption will have no impact on our financial position or our results of operations, but we are currently evaluating the impact this guidance will have on our disclosures within our consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Commitments, Contingencies and Guarantees	6 Months Ended
Commitments, Contingencies and Guarantees	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees Litigation In the second quarter of 2024, we recognized a pre-tax $15.0 million litigation settlement gain related to a completed legal matter for which Huron was the plaintiff, which is included in other gains, net on our consolidated statement of operations. From time to time, we are involved in legal proceedings and litigation arising in the ordinary course of business. As of the date of this Quarterly Report on Form 10-Q, we are not a party to any litigation or legal proceeding or subject to any claim that, in the current opinion of management, could reasonably be expected to have a material adverse effect on our financial position or results of operations. However, due to the risks and uncertainties inherent in legal proceedings, actual results could differ from current expected results. Guarantees Guarantees in the form of letters of credit totaling $0.6 million and $0.5 million were outstanding at June 30, 2024 and December 31, 2023, respectively, which are used as security deposits for our office facilities. In connection with certain business acquisitions, we may be required to pay post-closing consideration to the sellers if specific financial performance targets are met over a number of years as specified in the related purchase agreements. As of June 30, 2024 and December 31, 2023, the total estimated fair value of our outstanding contingent consideration liability was $0.7 million and $2.1 million, respectively. To the extent permitted by law, our bylaws and articles of incorporation require that we indemnify our officers and directors against judgments, fines and amounts paid in settlement, including attorneys’ fees, incurred in connection with civil or criminal action or proceedings, as it relates to their services to us if such person acted in good faith. Although there is no limit on the amount of indemnification, we may have recourse against our insurance carrier for certain payments made.

Financing Arrangements - Long-Term Debt (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
2024	$ 477,187
2025	6,875
2026	13,750
2027	$ 13,750

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 17,646	$ 12,149
Receivables from clients, net of allowances of $12,425 and $17,284, respectively	181,074	162,566
Unbilled services, net of allowances of $2,709 and $5,984, respectively	188,075	190,869
Income tax receivable	8,342	6,385
Prepaid expenses and other current assets	40,399	28,491
Total current assets	435,536	400,460
Property and equipment, net	23,357	23,728
Deferred income taxes, net	2,325	2,288
Long-term investments	64,918	75,414
Operating lease right-of-use assets	22,409	24,131
Other non-current assets	105,799	92,336
Intangible assets, net	24,118	18,074
Goodwill	647,451	625,711
Total assets	1,325,913	1,262,142
Current liabilities:
Accounts payable	9,740	10,074
Accrued expenses and other current liabilities	26,495	33,087
Accrued payroll and related benefits	135,595	225,921
Current maturities of long-term debt	13,750	0
Current maturities of operating lease liabilities	11,588	11,032
Deferred revenues	28,583	22,461
Total current liabilities	225,751	302,575
Non-current liabilities:
Deferred compensation and other liabilities	40,038	35,665
Long-term debt, net of current portion	496,550	324,000
Operating lease liabilities, net of current portion	35,618	38,850
Deferred income taxes, net	27,378	28,160
Total non-current liabilities	599,584	426,675
Commitments and contingencies
Stockholders’ equity
Common stock; $0.01 par value; 500,000,000 shares authorized; 20,843,283 and 21,316,441 shares issued, respectively	208	212
Treasury stock, at cost, 3,059,851 and 2,852,296 shares, respectively	(159,537)	(142,136)
Additional paid-in capital	175,387	236,962
Retained earnings	470,515	415,027
Accumulated other comprehensive income	14,005	22,827
Total stockholders’ equity	500,578	532,892
Total liabilities and stockholders’ equity	$ 1,325,913	$ 1,262,142

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 37,482	$ 24,712	$ 55,488	$ 38,131

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The table below sets forth the changes in the carrying value of goodwill by reportable segment for the six months ended June 30, 2024.


	Healthcare		Education		Commercial		Total
Balance as of December 31, 2023:
Goodwill	$	644,983	$	123,652	$	312,968	$	1,081,603
Accumulated impairment losses	(190,024)		(1,417)		(264,451)		(455,892)
Goodwill, net as of December 31, 2023	$	454,959	$	122,235	$	48,517	$	625,711
Goodwill recorded in connection with business acquisitions	—		21,677		76		21,753
Foreign currency translation	—		(13)		—		(13)
Goodwill, net as of June 30, 2024	$	454,959	$	143,899	$	48,593	$	647,451

2024 Acquisitions

On January 1, 2024, we completed the acquisition of the data analytics services team of Vlamis Software Solutions, Inc. (“Vlamis”). The results of operations of Vlamis are included within our consolidated financial statements as of the acquisition date and allocated among our Education and Commercial segments based on the engagements delivered by the business.

On March 1, 2024, we completed the acquisition of Grenzebach Glier and Associates, Inc. (“GG+A”), a philanthropic management consulting firm that helps education institutions and other nonprofit organizations build and accelerate the philanthropic programs that support their mission. The results of operations of GG+A are included within our consolidated financial statements and results of operations of our Education segment as of the acquisition date.

The acquisitions of Vlamis and GG+A are not significant to our consolidated financial statements individually or in the aggregate as of and for the three and six months ended June 30, 2024. These acquisitions were accounted for using the acquisition method of accounting. Contract assets and contract liabilities are recorded at their carrying value under Topic 606: Revenue from Contracts with Customers. We finalized the measurement of assets acquired, including goodwill, and liabilities assumed in the acquisitions of Vlamis and GG+A in the first and second quarters of 2024, respectively.

Intangible Assets

Intangible assets as of June 30, 2024 and December 31, 2023 consisted of the following:


		As of June 30, 2024				As of December 31, 2023
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	5 to 10	$	26,632	$	8,250	$	60,636	$	48,928
Technology and software	2 to 5	16,230		11,483		16,230		10,195
Trade names	6	6,000		6,000		6,000		6,000
Non-competition agreements	3 to 5	950		489		720		389
Customer contracts	1 to 4	700		172		—		—
Total		$	50,512	$	26,394	$	83,586	$	65,512

Identifiable intangible assets with finite lives are amortized over their estimated useful lives using either an accelerated or straight-line basis to correspond to the cash flows expected to be derived from the assets.

Intangible asset amortization expense was $1.6 million and $2.0 million for the three months ended June 30, 2024 and 2023, respectively; and $3.3 million and $4.2 million for the six months ended June 30, 2024 and 2023, respectively. The table below sets forth the estimated annual amortization expense for the intangible assets recorded as of June 30, 2024.


Year Ending December 31,	Estimated Amortization Expense
2024	$	6,536
2025	$	6,808
2026	$	5,044
2027	$	3,637
2028	$	2,668

Actual future amortization expense could differ from these estimated amounts as a result of future acquisitions, dispositions, and other factors.

Basis of Presentation and Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

These financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q. Accordingly, these financial statements do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements. In the opinion of management, these financial statements reflect all adjustments of a normal, recurring nature necessary for the fair statement of our financial position, results of operations, and cash flows for the interim periods presented in conformity with GAAP.

Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period, excluding unvested restricted common stock. Diluted earnings per share reflects the potential reduction in earnings per share that could occur if securities or other contracts to issue common stock were exercised or converted into common stock under the treasury stock method. Such securities or other contracts include unvested restricted stock awards, unvested restricted stock units, and outstanding common stock options, to the extent dilutive. In periods for which we report a net loss, diluted weighted average common shares outstanding excludes all potential common stock equivalents as their impact on diluted net loss per share would be anti-dilutive.

Derivative Instruments and Hedging Activity

We have designated all of our derivative instruments as cash flow hedges. Therefore, changes in the fair value of the interest rate swaps and foreign exchange forward contracts are recorded to other comprehensive income to the extent effective and reclassified to earnings upon settlement.

Fair Value of Financial Instruments

Certain of our assets and liabilities are measured at fair value. Fair value is defined as the price that would be received to sell an asset or the price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a fair value hierarchy for inputs used in measuring fair value and requires companies to maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy consists of three levels based on the objectivity of the inputs as follows:


Level 1 Inputs						Quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs						Quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Inputs						Unobservable inputs for the asset or liability, and include situations in which there is little, if any, market activity for the asset or liability.

Investments

The investment is carried at fair value with unrealized holding gains and losses excluded from earnings and reported in other comprehensive income.

Equity Securities without Readily Determinable Fair Value

We elected to apply the measurement alternative at the time of the purchase and will continue to do so until the investment does not qualify to be so measured. Under the measurement alternative, the investment is carried at cost minus impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same company. On a quarterly basis, we review the information available to determine whether an orderly and observable transaction for the same or similar equity instrument occurred or if factors indicate that a significant decrease in value has occurred. We remeasure to the fair value of the preferred stock using such identified information with changes in the fair value recorded in our consolidated statement of operations.

Segment Information

Segments are defined as components of a company that engage in business activities from which they may earn revenues and incur expenses, and for which separate financial information is available and is evaluated regularly by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker, who is our chief executive officer, manages the business under three operating segments, which are our reportable segments: Healthcare, Education, and Commercial.

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

Description of Business	6 Months Ended
Description of Business	Jun. 30, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business Huron is a global professional services firm that partners with clients to develop growth strategies, optimize operations and accelerate digital transformation, including using an enterprise portfolio of technology, data and analytics solutions, to empower clients to own their future. By collaborating with clients, embracing diverse perspectives, encouraging new ideas and challenging the status quo, we create sustainable results for the organizations we serve. We provide our services and products and manage our business under three operating segments: Healthcare, Education, and Commercial, which align our business by industry. The Commercial segment includes all industries outside of healthcare and education, including, but not limited to, financial services and energy and utilities. We also provide revenue reporting across two principal capabilities: i) Consulting and Managed Services and ii) Digital, which are methods by which we deliver our services and products. See Note 14 “Segment Information” for more information on each of our segments and their solutions.

Commitments, Contingencies and Guarantees (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Commitments And Contingencies [Line Items]
Guarantees in the form of letters of credit	$ 600	$ 500
Gain (Loss) Related to Litigation Settlement and Other Operating Gain	15,000
Fair value, measurements, recurring
Commitments And Contingencies [Line Items]
Contingent consideration liability	779	2,451
Fair value, measurements, recurring \| Contingent consideration for business acquisitions
Commitments And Contingencies [Line Items]
Contingent consideration liability	694	2,074
Level 3 \| Fair value, measurements, recurring
Commitments And Contingencies [Line Items]
Contingent consideration liability	694	2,074
Level 3 \| Fair value, measurements, recurring \| Contingent consideration for business acquisitions
Commitments And Contingencies [Line Items]
Contingent consideration liability	$ 694	$ 2,074

Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Earnings per share under the basic and diluted computations are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income	$	37,482	$	24,712	$	55,488	$	38,131

Weighted average common shares outstanding – basic	17,887		18,939		18,042		19,029
Weighted average common stock equivalents	567		547		699		569
Weighted average common shares outstanding – diluted	18,454		19,486		18,741		19,598

Net income per basic share	$	2.10	$	1.30	$	3.08	$	2.00
Net income per diluted share	$	2.03	$	1.27	$	2.96	$	1.95

The number of anti-dilutive securities excluded from the computation of the weighted average common stock equivalents presented above for the three and six months ended June 30, 2024 were 0.1 million and less than 0.1 million shares, respectively; and for the three and six months ended June 30, 2023 were both less than 0.1 million shares.

In November 2020, our board of directors authorized a share repurchase program permitting us to repurchase up to $50 million of our common stock through December 31, 2021.The share repurchase program has been subsequently extended and increased, most recently in the second quarter of 2024. The current authorization extends the share repurchase program through December 31, 2025 with a repurchase amount of $500 million. The amount and timing of repurchases under the share repurchase program were and will continue to be determined by management and depend on a variety of factors, including the trading price of our common stock, capacity under our credit facility, general market and business conditions, and applicable legal requirements.

In the three and six months ended June 30, 2024, we repurchased and retired 376,493 and 1,001,191 shares for $34.4 million and $96.7 million, respectively, which includes a $0.3 million and $0.4 million accrual for excise taxes on the net share repurchases, respectively. Additionally, in the first quarter of 2024, we settled the repurchase of 10,000 shares for $1.0 million which were accrued as of December 31, 2023.

In the three and six months ended June 30, 2023, we repurchased and retired 193,648 and 826,542 shares for $15.4 million and $59.6 million, respectively, which includes a $0.1 million and $0.4 million accrual for excise taxes on the net share repurchases, respectively. Additionally, in the first quarter of 2023, we settled the repurchase of 15,200 shares for $1.1 million which were accrued as of December 31, 2022.

As of June 30, 2024, $89.9 million remained available for share repurchases under our share repurchase program.

Fair Value of Financial Instruments - Convertible Debt Investment Reconciliation (Details) - Fair value, measurements, recurring $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning balance	$ 110,418
Ending balance	103,710
Convertible Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning balance	68,046
Change in fair value	(10,496)
Ending balance	$ 57,550

Derivative Instruments and Hedging Activity

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activity

In the normal course of business, we use forward interest rate swaps to manage the interest rate risk associated with our variable-rate borrowings under our senior secured credit facility and we use non-deliverable foreign exchange forward contracts to manage the foreign currency exchange rate risk related to our Indian Rupee-denominated expenses of our operations in India. From time to time, we may enter into additional forward interest rate swaps or non-deliverable foreign exchange forward contracts to further hedge against our interest rate risk and foreign currency exchange rate risk. We do not use derivative instruments for trading or other speculative purposes.

Interest Rate Swaps

We are party to forward interest rate swap agreements with aggregate notional amounts of $300.0 million and $250.0 million as of June 30, 2024 and December 31, 2023, respectively. Under the terms of the interest rate swap agreements, we receive from the counterparty interest on the notional amount based on one month Term SOFR and we pay to the counterparty a stated, fixed rate. The forward interest rate swap agreements have staggered maturities through January 31, 2029.

As of June 30, 2024, it was anticipated that $4.6 million of the gains, net of tax, related to interest rate swaps currently recorded in accumulated other comprehensive income will be reclassified into interest expense, net of interest income in our consolidated statement of operations within the next 12 months.

Foreign Exchange Forward Contracts

We are party to non-deliverable foreign exchange forward contracts that are scheduled to mature monthly through April 30, 2025. As of June 30, 2024 and December 31, 2023, the aggregate notional amounts of these contracts were INR 629.2 million, or $7.5 million, and INR 1,375.7 million, or $16.6 million, respectively, based on the exchange rates in effect as of each period end.

As of June 30, 2024, it was anticipated that the less than $0.1 million of losses, net of tax, related to foreign exchange forward contracts currently recorded in accumulated other comprehensive income will be reclassified into earnings in our consolidated statement of operations within the next 12 months.

The table below sets forth additional information relating to our derivative instruments as of June 30, 2024 and December 31, 2023.


Derivative Instrument	Balance Sheet Location	June 30, 2024		December 31, 2023
Interest rate swaps	Prepaid expenses and other current assets	$	6,042	$	6,655
Interest rate swaps	Other non-current assets	1,115		891
Foreign exchange forward contracts	Prepaid expenses and other current assets	25		—
Total Assets		$	7,182	$	7,546


Interest rate swaps	Deferred compensation and other liabilities	$	78	$	307
Foreign exchange forward contracts	Accrued expenses and other current liabilities	7		70
Total Liabilities		$	85	$	377

All of our derivative instruments are transacted under the International Swaps and Derivatives Association (ISDA) master agreements. These agreements permit the net settlement of amounts owed in the event of default and certain other termination events. Although netting is permitted, it is our policy to record all derivative assets and liabilities on a gross basis in our consolidated balance sheet. Refer to Note 11 “Other Comprehensive Income (Loss)” for additional information on our derivative instruments.

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 23, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	000-50976
Entity Registrant Name	HURON CONSULTING GROUP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	01-0666114
Entity Address, Address Line One	550 West Van Buren Street
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60607
City Area Code	(312)
Local Phone Number	583-8700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HURN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,791,109
Entity Central Index Key	0001289848
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Derivative Instruments and Hedging Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	$ 7,182	$ 7,546
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	85	377
Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest Rate Cash Flow Hedge Asset at Fair Value	6,042	6,655
Foreign Currency Cash Flow Hedge Asset at Fair Value	25	0
Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest Rate Cash Flow Hedge Asset at Fair Value	1,115	891
Foreign exchange forward contracts
Derivatives, Fair Value [Line Items]
Foreign Currency Cash Flow Hedge Derivative at Fair Value, Net	$ 7	$ 70

Other Comprehensive Income (Loss ) - Components of Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 495,606	$ 528,969	$ 532,892	$ 552,040
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(7,726)	3,343	(8,822)	4,939
Ending balance	500,578	551,618	500,578	551,618
Interest rate swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			5,361
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent			(118)
Ending balance	5,243		5,243
Foreign exchange forward contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(52)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent			64
Ending balance	12		12
Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	21,731	19,715	22,827	18,119
Ending balance	14,005	$ 23,058	14,005	$ 23,058
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(2,521)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent			(1,003)
Ending balance	(3,524)		(3,524)
Available-for-Sale Investment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			20,039
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent			(7,765)
Ending balance	$ 12,274		$ 12,274

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock, Common	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares, Issued		22,231,593	2,953,147
Stockholders' Equity Attributable to Parent	$ 552,040	$ 223	$ (137,556)	$ 318,706	$ 352,548	$ 18,119
Beginning balance (shares) at Dec. 31, 2022		22,231,593	2,953,147
Beginning balance at Dec. 31, 2022	552,040	$ 223	$ (137,556)	318,706	352,548	18,119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	43,070				38,131	4,939
Restricted stock awards, net of cancellations (shares)		306,264	(121,835)
Restricted stock awards, net of cancellations	0	$ 3	$ 5,877	(5,880)
Exercise of stock options (shares)		21,609
Exercise of stock options	987	$ 0		987
Share-based compensation	24,895			24,895
Shares redeemed for employee tax withholdings (shares)			(137,884)
Shares redeemed for employee tax withholdings	(9,728)		$ (9,728)
Stock repurchased and retired (shares)		(826,542)
Share repurchases	(59,646)	$ (8)		(59,638)
Shares, Issued		21,910,425	2,970,118
Stockholders' Equity Attributable to Parent	528,969	$ 220	$ (141,353)	284,420	365,967	19,715
Beginning balance (shares) at Mar. 31, 2023		21,910,425	2,970,118
Beginning balance at Mar. 31, 2023	528,969	$ 220	$ (141,353)	284,420	365,967	19,715
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	28,055				24,712	3,343
Restricted stock awards, net of cancellations (shares)		8,683	(3,386)
Restricted stock awards, net of cancellations	0	$ 0	$ 145	(145)
Exercise of stock options (shares)		7,464
Exercise of stock options	360	$ 0		360
Share-based compensation	9,806			9,806
Shares redeemed for employee tax withholdings (shares)			(2,464)
Shares redeemed for employee tax withholdings	(199)		$ (199)
Stock repurchased and retired (shares)		(193,648)
Share repurchases	(15,373)	$ (2)		(15,371)
Shares, Issued		21,732,924	2,969,196
Stockholders' Equity Attributable to Parent	551,618	$ 218	$ (141,407)	279,070	390,679	23,058
Shares, Issued		21,175,554	2,975,321
Stockholders' Equity Attributable to Parent	532,892	$ 212	$ (142,136)	236,962	415,027	22,827
Beginning balance (shares) at Dec. 31, 2023		21,175,554	2,975,321
Beginning balance at Dec. 31, 2023	532,892	$ 212	$ (142,136)	236,962	415,027	22,827
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	46,666				55,488
Restricted stock awards, net of cancellations (shares)		550,438	(74,820)
Restricted stock awards, net of cancellations	0	$ 5	$ 3,679	(3,684)
Exercise of stock options (shares)		22,419
Exercise of stock options	1,215	$ 0		1,215
Stock Issued During Period, Shares, Acquisitions		86,913
Stock Issued During Period, Value, Acquisitions	8,640	$ 1		8,639
Share-based compensation	28,817			28,817
Shares redeemed for employee tax withholdings (shares)			(214,372)
Shares redeemed for employee tax withholdings	(21,080)		$ (21,080)
Stock repurchased and retired (shares)		(1,001,191)
Share repurchases	(96,685)	$ (10)		(96,675)
Adjustments to Additional Paid in Capital, Other	113			113
Shares, Issued		21,204,110	3,116,541
Stockholders' Equity Attributable to Parent	495,606	$ 212	$ (159,605)	200,235	433,033	21,731
Beginning balance (shares) at Mar. 31, 2024		21,204,110	3,116,541
Beginning balance at Mar. 31, 2024	495,606	$ 212	$ (159,605)	200,235	433,033	21,731
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	29,756
Restricted stock awards, net of cancellations (shares)		5,516	(3,295)
Restricted stock awards, net of cancellations	0	$ 0	$ 221	(221)
Exercise of stock options (shares)		1,000
Exercise of stock options	48	$ 0		48
Share-based compensation	9,580			9,580
Shares redeemed for employee tax withholdings (shares)			(1,627)
Shares redeemed for employee tax withholdings	(153)		$ (153)
Stock repurchased and retired (shares)		(376,493)
Share repurchases	(34,372)	$ (4)		(34,368)
Adjustments to Additional Paid in Capital, Other	113			113
Shares, Issued		20,834,133	3,114,873
Stockholders' Equity Attributable to Parent	$ 500,578	$ 208	$ (159,537)	$ 175,387	$ 470,515	$ 14,005

Restructuring Charges (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve by Type of Cost

The table below sets forth the changes in the carrying value of our restructuring charge liability by restructuring type for the six months ended June 30, 2024.


	Employee Costs		Other		Total
Balance as of December 31, 2023	$	1,366	$	535	$	1,901
Additions	1,009		—		1,009
Payments	(2,008)		—		(2,008)
Adjustments	(17)		13		(4)
Balance as of June 30, 2024	$	350	$	548	$	898

Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

•Healthcare

Our Healthcare segment serves acute care providers, including national and regional health systems; academic health systems; community health systems; the federal health system; and public, children’s and critical access hospitals, and non-acute care providers, including physician practices and medical groups; payors; and long-term care or post-acute providers. Our healthcare-focused services and products include financial and operational performance improvement consulting, which spans revenue cycle, cost and care delivery transformation; digital offerings, spanning technology and analytic-related services, including enterprise health record (“EHR”), enterprise resource planning (“ERP”) and enterprise performance management (“EPM”), customer relationship management (“CRM”), data management and technology managed services, and a portfolio of software products; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting.

•Education

Our Education segment serves public and private colleges and universities, research institutes and other education-related organizations. Our education and research-focused services and products include our digital offerings, spanning technology and analytic-related services, including student information systems, ERP and EPM, CRM, data management and technology managed services and our Huron Research Suite product suite (the leading software suite designed to facilitate and improve research administration service delivery and compliance); our research-focused consulting and managed services; and our strategy and operations consulting services, which span finance, accounting, operations and philanthropy functions, organization and talent strategy, and student and academic strategy.

•Commercial

Our Commercial segment is focused on serving industries and organizations facing significant disruption and regulatory change by helping them adapt to rapidly changing environments and accelerate business transformation. Our Commercial professionals work primarily with six primary buyers: the chief executive officer, the chief financial officer, the chief strategy officer, the chief human resources officer, the chief operating officer, and organizational advisors, including lenders and law firms. We have a deep focus on serving organizations in the financial services, energy and utilities, industrials and manufacturing industries and the public sector while opportunistically serving commercial industries more broadly, including professional and business services, life sciences, consumer products, and nonprofit. Our Commercial professionals use their deep industry, functional and technical expertise to deliver our digital services and software products, financial advisory (special situation advisory and corporate finance advisory) services, and strategy and innovation consulting services.

Segment operating income consists of the revenues generated by a segment, less operating expenses that are incurred directly by the segment. Unallocated costs include corporate costs related to administrative functions that are performed in a centralized manner that are not attributable to a particular segment. These administrative function costs include corporate office support costs, office facility costs, costs related to accounting and finance, human resources, legal, marketing, information technology, and company-wide business development functions, as well as costs related to overall corporate management. Our chief operating decision maker does not evaluate segments using asset information.

The table below sets forth information about our operating segments for the three and six months ended June 30, 2024 and 2023, along with the items necessary to reconcile the segment information to the totals reported in the accompanying consolidated financial statements.


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Healthcare:
Revenues	$	190,098		$	173,768		$	370,840		$	322,817
Operating income	$	55,246		$	49,151		$	97,940		$	81,406
Segment operating income as a percentage of segment revenues	29.1		%	28.3		%	26.4		%	25.2		%
Education:
Revenues	$	122,753		$	110,694		$	234,336		$	214,841
Operating income	$	30,792		$	27,397		$	52,748		$	50,562
Segment operating income as a percentage of segment revenues	25.1		%	24.8		%	22.5		%	23.5		%
Commercial:
Revenues	$	58,803		$	62,297		$	122,439		$	126,996
Operating income	$	9,015		$	10,472		$	23,054		$	24,539
Segment operating income as a percentage of segment revenues	15.3		%	16.8		%	18.8		%	19.3		%
Total Huron:
Revenues	$	371,654		$	346,759		$	727,615		$	664,654
Reimbursable expenses	9,363			8,140			16,787			16,630
Total revenues and reimbursable expenses	$	381,017		$	354,899		$	744,402		$	681,284

Segment operating income	$	95,053		$	87,020		$	173,742		$	156,507
Items not allocated at the segment level:
Other operating expenses	45,626			43,044			96,565			86,665
Other gains, net	(15,917)			(623)			(14,349)			(188)
Restructuring charges	2,047			502			4,280			2,786
Depreciation and amortization	3,894			4,378			7,922			9,094

Operating income	59,403			39,719			79,324			58,150
Other expense, net	(7,308)			(4,734)			(9,669)			(7,318)
Income before taxes	$	52,095		$	34,985		$	69,655		$	50,832

The following table illustrates the disaggregation of revenues by our two principal capabilities: i) Consulting and Managed Services and ii) Digital, and includes a reconciliation of the disaggregated revenues to revenues from our three operating segments for the three and six months ended June 30, 2024 and 2023.


	Three Months Ended June 30,				Six Months Ended June 30,
Revenues by Capability	2024		2023		2024		2023
Healthcare:
Consulting and Managed Services	$	133,987	$	124,944	$	258,198	$	226,680
Digital	56,111		48,824		112,642		96,137
Total revenues	$	190,098	$	173,768	$	370,840	$	322,817
Education:
Consulting and Managed Services	$	63,831	$	53,426	$	118,940	$	106,653
Digital	58,922		57,268		115,396		108,188
Total revenues	$	122,753	$	110,694	$	234,336	$	214,841
Commercial:
Consulting and Managed Services	$	20,521	$	18,885	$	42,760	$	41,116
Digital	38,282		43,412		79,679		85,880
Total revenues	$	58,803	$	62,297	$	122,439	$	126,996
Total Huron:
Consulting and Managed Services	$	218,339	$	197,255	$	419,898	$	374,449
Digital	153,315		149,504		307,717		290,205
Total revenues	$	371,654	$	346,759	$	727,615	$	664,654

For the three and six months ended June 30, 2024 and 2023, substantially all of our revenues were recognized over time. During the three and six months ended June 30, 2024 and 2023, no single client generated greater than 10% of our consolidated revenues. At June 30, 2024, one client in our Healthcare segment accounted for 13.4% of our combined receivable from clients, net and unbilled services, net balance as a result of outstanding invoices due in the normal course of the contract payment terms. At December 31, 2023, no single client accounted for greater than 10% of our combined balance of receivables from clients, net and unbilled services, net.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Components of Segment Information


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Healthcare:
Revenues	$	190,098		$	173,768		$	370,840		$	322,817
Operating income	$	55,246		$	49,151		$	97,940		$	81,406
Segment operating income as a percentage of segment revenues	29.1		%	28.3		%	26.4		%	25.2		%
Education:
Revenues	$	122,753		$	110,694		$	234,336		$	214,841
Operating income	$	30,792		$	27,397		$	52,748		$	50,562
Segment operating income as a percentage of segment revenues	25.1		%	24.8		%	22.5		%	23.5		%
Commercial:
Revenues	$	58,803		$	62,297		$	122,439		$	126,996
Operating income	$	9,015		$	10,472		$	23,054		$	24,539
Segment operating income as a percentage of segment revenues	15.3		%	16.8		%	18.8		%	19.3		%
Total Huron:
Revenues	$	371,654		$	346,759		$	727,615		$	664,654
Reimbursable expenses	9,363			8,140			16,787			16,630
Total revenues and reimbursable expenses	$	381,017		$	354,899		$	744,402		$	681,284

Segment operating income	$	95,053		$	87,020		$	173,742		$	156,507
Items not allocated at the segment level:
Other operating expenses	45,626			43,044			96,565			86,665
Other gains, net	(15,917)			(623)			(14,349)			(188)
Restructuring charges	2,047			502			4,280			2,786
Depreciation and amortization	3,894			4,378			7,922			9,094

Operating income	59,403			39,719			79,324			58,150
Other expense, net	(7,308)			(4,734)			(9,669)			(7,318)
Income before taxes	$	52,095		$	34,985		$	69,655		$	50,832

Disaggregation of Revenue


	Three Months Ended June 30,				Six Months Ended June 30,
Revenues by Capability	2024		2023		2024		2023
Healthcare:
Consulting and Managed Services	$	133,987	$	124,944	$	258,198	$	226,680
Digital	56,111		48,824		112,642		96,137
Total revenues	$	190,098	$	173,768	$	370,840	$	322,817
Education:
Consulting and Managed Services	$	63,831	$	53,426	$	118,940	$	106,653
Digital	58,922		57,268		115,396		108,188
Total revenues	$	122,753	$	110,694	$	234,336	$	214,841
Commercial:
Consulting and Managed Services	$	20,521	$	18,885	$	42,760	$	41,116
Digital	38,282		43,412		79,679		85,880
Total revenues	$	58,803	$	62,297	$	122,439	$	126,996
Total Huron:
Consulting and Managed Services	$	218,339	$	197,255	$	419,898	$	374,449
Digital	153,315		149,504		307,717		290,205
Total revenues	$	371,654	$	346,759	$	727,615	$	664,654

Derivative Instruments and Hedging Activity (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value Interest Rate Swaps Designated as Cash Flow Hedging Instruments

The table below sets forth additional information relating to our derivative instruments as of June 30, 2024 and December 31, 2023.


Derivative Instrument	Balance Sheet Location	June 30, 2024		December 31, 2023
Interest rate swaps	Prepaid expenses and other current assets	$	6,042	$	6,655
Interest rate swaps	Other non-current assets	1,115		891
Foreign exchange forward contracts	Prepaid expenses and other current assets	25		—
Total Assets		$	7,182	$	7,546


Interest rate swaps	Deferred compensation and other liabilities	$	78	$	307
Foreign exchange forward contracts	Accrued expenses and other current liabilities	7		70
Total Liabilities		$	85	$	377

Revenues Performance Obligations Information (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 216.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 46.9
Expected timing of satisfaction	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 65.7
Expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 103.9
Expected timing of satisfaction

Earnings Per Share - Narrative (Details) - USD ($)	3 Months Ended				6 Months Ended
Earnings Per Share - Narrative (Details) - USD ($)	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2020
Accelerated Share Repurchases [Line Items]
Stock repurchased and retired	$ 34,372,000		$ 15,373,000		$ 96,685,000	$ 59,646,000
Excise Taxes On Share Repurchases Incurred But Not Paid	300,000		$ 100,000		$ 449,000	$ 385,000
Stock Repurchase Program Expiration Date					Dec. 31, 2025
2020 Share repurchase program
Accelerated Share Repurchases [Line Items]
Share repurchase authorized amount	$ 500,000,000				$ 500,000,000				$ 50,000,000
Stock repurchased and retired (shares)	376,493		193,648		1,001,191	826,542
Stock repurchased and retired	$ 34,400,000		$ 15,400,000		$ 96,700,000	$ 59,600,000
Settlement of repurchase of shares (in shares)		10,000		15,200
Share repurchases included in current liabilities							$ 1,000,000	$ 1,100,000
Remaining authorized repurchase amount	$ 89,900,000				$ 89,900,000

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill		$ 1,081,603
Accumulated impairment losses		(455,892)
Goodwill	$ 647,451	625,711
Goodwill recorded in connection with a business acquisition	21,753
Foreign currency translation	(13)
Healthcare
Goodwill [Line Items]
Goodwill		644,983
Accumulated impairment losses		(190,024)
Goodwill	454,959	454,959
Goodwill recorded in connection with a business acquisition	0
Foreign currency translation	0
Education
Goodwill [Line Items]
Goodwill		123,652
Accumulated impairment losses		(1,417)
Goodwill	143,899	122,235
Goodwill recorded in connection with a business acquisition	21,677
Foreign currency translation	(13)
Commercial:
Goodwill [Line Items]
Goodwill		312,968
Accumulated impairment losses		(264,451)
Goodwill	48,593	$ 48,517
Goodwill recorded in connection with a business acquisition	76
Foreign currency translation	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Other Comprehensive Income (Loss)

The table below sets forth the components of other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2024 and 2023.


	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Before Taxes		Tax (Expense) Benefit		Net of Taxes		Before Taxes		Tax (Expense) Benefit		Net of Taxes
Foreign currency translation adjustments	$	(281)	$	—	$	(281)	$	327	$	—	$	327
Unrealized gain (loss) on investment	$	(8,549)	$	2,231	$	(6,318)	$	754	$	(201)	$	553
Interest rate swaps:
Change in fair value	$	791	$	(206)	$	585	$	5,265	$	(1,400)	$	3,865
Reclassification adjustments into earnings	(2,344)		612		(1,732)		(1,941)		516		(1,425)
Net unrealized gain (loss) on interest rate swaps	$	(1,553)	$	406	$	(1,147)	$	3,324	$	(884)	$	2,440
Foreign exchange forward contracts:
Change in fair value	$	22	$	(6)	$	16	$	46	$	(12)	$	34
Reclassification adjustments into earnings	6		(2)		4		(14)		3		(11)
Net unrealized gain (loss) on foreign exchange forward contracts	$	28	$	(8)	$	20	$	32	$	(9)	$	23
Other comprehensive income (loss)	$	(10,355)	$	2,629	$	(7,726)	$	4,437	$	(1,094)	$	3,343



	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Before Taxes		Tax (Expense) Benefit		Net of Taxes		Before Taxes		Tax (Expense) Benefit		Net of Taxes
Foreign currency translation adjustments	$	(1,003)	$	—	$	(1,003)	$	379	$	—	$	379
Unrealized gain (loss) on investment	$	(10,496)	$	2,731	$	(7,765)	$	6,033	$	(1,607)	$	4,426
Interest rate swaps:
Change in fair value	$	4,469	$	(1,166)	$	3,303	$	3,458	$	(919)	$	2,539
Reclassification adjustments into earnings	(4,629)		1,208		(3,421)		(3,473)		923		(2,550)
Net unrealized gain (loss) on interest rate swaps	$	(160)	$	42	$	(118)	$	(15)	$	4	$	(11)
Foreign exchange forward contracts:
Change in fair value	$	68	$	(18)	$	50	$	200	$	(53)	$	147
Reclassification adjustments into earnings	20		(6)		14		(2)		—		(2)
Net unrealized gain (loss) on foreign exchange forward contracts	$	88	$	(24)	$	64	$	198	$	(53)	$	145
Other comprehensive income (loss)	$	(11,571)	$	2,749	$	(8,822)	$	6,595	$	(1,656)	$	4,939

The before tax amounts reclassified from accumulated other comprehensive income related to our interest rate swaps and foreign exchange forward contracts are recorded to interest expense, net of interest income and direct costs, respectively, on our consolidated statement of operations. The related tax amounts reclassified from accumulated other comprehensive income are recorded to income tax expense (benefit) on our consolidated statement of operations. Refer to Note 9 “Derivative Instruments and Hedging Activity” for additional information on our derivative instruments.

Accumulated other comprehensive income, net of tax, includes the following components:


					Cash Flow Hedges
	Foreign Currency Translation		Available-for-Sale Investment		Interest Rate Swaps		Foreign Exchange Forward Contracts		Total
Balance as of December 31, 2023	$	(2,521)	$	20,039	$	5,361	$	(52)	$	22,827
Current period change	(1,003)		(7,765)		(118)		64		(8,822)
Balance as of June 30, 2024	$	(3,524)	$	12,274	$	5,243	$	12	$	14,005

Segment Information - Narrative (Details) - Segment	3 Months Ended		6 Months Ended
Segment Information - Narrative (Details) - Segment	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting [Abstract]
Number of operating segments			3
Receivables from major customers (as a percent)					1000.00%
Revenue generated by major client percentage	1000.00%	1000.00%	1000.00%	1000.00%
Segment Reporting Information [Line Items]
Receivables from major customers (as a percent)					1000.00%
Healthcare
Segment Reporting [Abstract]
Receivables from major customers (as a percent)	13.40%		13.40%
Segment Reporting Information [Line Items]
Receivables from major customers (as a percent)	13.40%		13.40%

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The table below sets forth the changes in the carrying value of goodwill by reportable segment for the six months ended June 30, 2024.


	Healthcare		Education		Commercial		Total
Balance as of December 31, 2023:
Goodwill	$	644,983	$	123,652	$	312,968	$	1,081,603
Accumulated impairment losses	(190,024)		(1,417)		(264,451)		(455,892)
Goodwill, net as of December 31, 2023	$	454,959	$	122,235	$	48,517	$	625,711
Goodwill recorded in connection with business acquisitions	—		21,677		76		21,753
Foreign currency translation	—		(13)		—		(13)
Goodwill, net as of June 30, 2024	$	454,959	$	143,899	$	48,593	$	647,451

Intangible Assets

Intangible assets as of June 30, 2024 and December 31, 2023 consisted of the following:


		As of June 30, 2024				As of December 31, 2023
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	5 to 10	$	26,632	$	8,250	$	60,636	$	48,928
Technology and software	2 to 5	16,230		11,483		16,230		10,195
Trade names	6	6,000		6,000		6,000		6,000
Non-competition agreements	3 to 5	950		489		720		389
Customer contracts	1 to 4	700		172		—		—
Total		$	50,512	$	26,394	$	83,586	$	65,512

Schedule of Future Amortization Expense

The table below sets forth the estimated annual amortization expense for the intangible assets recorded as of June 30, 2024.


Year Ending December 31,	Estimated Amortization Expense
2024	$	6,536
2025	$	6,808
2026	$	5,044
2027	$	3,637
2028	$	2,668

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

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-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Restructuring Charges - Restructuring Liability Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 1,901
Increase (Decrease) in Restructuring Reserve	1,009
Payments for Restructuring	(2,008)
Restructuring Reserve, Accrual Adjustment	(4)
Ending balance	898
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	1,366
Increase (Decrease) in Restructuring Reserve	1,009
Payments for Restructuring	(2,008)
Restructuring Reserve, Accrual Adjustment	(17)
Ending balance	350
Other Restructuring [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	535
Increase (Decrease) in Restructuring Reserve	0
Payments for Restructuring	0
Restructuring Reserve, Accrual Adjustment	13
Ending balance	$ 548

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Earnings Per Share

Earnings per share under the basic and diluted computations are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income	$	37,482	$	24,712	$	55,488	$	38,131

Weighted average common shares outstanding – basic	17,887		18,939		18,042		19,029
Weighted average common stock equivalents	567		547		699		569
Weighted average common shares outstanding – diluted	18,454		19,486		18,741		19,598

Net income per basic share	$	2.10	$	1.30	$	3.08	$	2.00
Net income per diluted share	$	2.03	$	1.27	$	2.96	$	1.95

Segment Information - Components of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Components of Segment Information
Revenues	$ 371,654	$ 346,759	$ 727,615	$ 664,654
Operating income	59,403	39,719	79,324	58,150
Reimbursable expenses	9,363	8,140	16,787	16,630
Total revenues and reimbursable expenses	381,017	354,899	744,402	681,284
Other Cost and Expense, Operating	(15,917)	(623)	(14,349)	(188)
Restructuring charges	2,056	1,699	4,393	3,983
Depreciation and amortization	6,033	6,143	12,005	12,517
Other expense, net	(7,308)	(4,734)	(9,669)	(7,318)
Income (loss) from continuing operations before income taxes	52,095	34,985	69,655	50,832
Healthcare
Components of Segment Information
Revenues	190,098	173,768	370,840	322,817
Education
Components of Segment Information
Revenues	122,753	110,694	234,336	214,841
Commercial:
Components of Segment Information
Revenues	58,803	62,297	122,439	126,996
Operating segments
Components of Segment Information
Revenues	371,654	346,759	727,615	664,654
Operating income	95,053	87,020	173,742	156,507
Reimbursable expenses	9,363	8,140	16,787	16,630
Total revenues and reimbursable expenses	381,017	354,899	744,402	681,284
Operating segments \| Healthcare
Components of Segment Information
Revenues	190,098	173,768	370,840	322,817
Operating income	$ 55,246	$ 49,151	$ 97,940	$ 81,406
Segment operating income as a percentage of segment revenues	29.10%	28.30%	26.40%	25.20%
Operating segments \| Education
Components of Segment Information
Revenues	$ 122,753	$ 110,694	$ 234,336	$ 214,841
Operating income	$ 30,792	$ 27,397	$ 52,748	$ 50,562
Segment operating income as a percentage of segment revenues	25.10%	24.80%	22.50%	23.50%
Operating segments \| Commercial:
Components of Segment Information
Revenues	$ 58,803	$ 62,297	$ 122,439	$ 126,996
Operating income	$ 9,015	$ 10,472	$ 23,054	$ 24,539
Segment operating income as a percentage of segment revenues	15.30%	16.80%	18.80%	19.30%
Segment reconciling items
Components of Segment Information
Operating income	$ 59,403	$ 39,719	$ 79,324	$ 58,150
Other operating expenses	45,626	43,044	96,565	86,665
Other Cost and Expense, Operating	(15,917)	(623)	(14,349)	(188)
Restructuring charges	2,047	502	4,280	2,786
Depreciation and amortization	3,894	4,378	7,922	9,094
Other expense, net	$ (7,308)	$ (4,734)	$ (9,669)	$ (7,318)

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 37,482	$ 24,712	$ 55,488	$ 38,131
Weighted average common shares outstanding - basic (shares)	17,887	18,939	18,042	19,029
Weighted average common stock equivalents (shares)	567	547	699	569
Weighted average common shares outstanding - diluted (shares)	18,454	19,486	18,741	19,598
Net income (USD per share)	$ 2.10	$ 1.30	$ 3.08	$ 2.00
Net income (USD per share)	$ 2.03	$ 1.27	$ 2.96	$ 1.95

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Financing Arrangements

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Financing Arrangements

The Company has a $600 million senior secured revolving credit facility (the “Revolver”) and a $275 million senior secured term loan facility (the “Term Loan”), subject to the terms of the Third Amended and Restated Credit Agreement dated as of November 15, 2022 (as amended, the “Amended Credit Agreement”), both of which fully mature on November 15, 2027. The Term Loan was established in February 2024 with the execution of Amendment No. 2 to the Third Amended and Restated Credit Agreement. The Term Loan is subject to scheduled quarterly amortization payments of $3.4 million beginning June 30, 2024 through the maturity date of November 15, 2027, at which time the outstanding principal balance and all accrued interest will be due.

As of June 30, 2024, we had total borrowings outstanding under our Amended Credit Agreement of $511.6 million, consisting of $240.0 million outstanding under the Revolver and $271.6 million outstanding under the Term Loan. A summary of the scheduled maturities of those borrowings follows:


	Scheduled Maturities of Long-Term Debt
2024	$	6,875
2025	$	13,750
2026	$	13,750
2027	$	477,187

The initial borrowings under the Revolver were used to refinance borrowings outstanding under a prior credit agreement, and future borrowings under the Revolver may be used for working capital, capital expenditures, share repurchases, permitted acquisitions, and other general corporate purposes. The proceeds of the Term Loan were used to reduce borrowings under the Revolver.

The Amended Credit Agreement provides the option to increase the revolving credit facility or establish additional term loan facilities in an aggregate amount up to $250 million, subject to customary conditions and the approval of any lender whose commitment would be increased, resulting in a maximum available principal amount under the Amended Credit Agreement of $1.13 billion.

Fees and interest on borrowings under the Amended Credit Agreement vary based on our Consolidated Leverage Ratio (as defined in the Amended Credit Agreement). At our option, these borrowings will bear interest at one, three or six month Term SOFR or, in the case of the Revolver, an alternate base rate, in each case plus the applicable margin. The applicable margin for borrowings under the Revolver will fluctuate between 1.125% per annum and 1.875% per annum, in the case of Term SOFR borrowings, or between 0.125% per annum and 0.875% per annum, in the case of base rate loans, based upon our Consolidated Leverage Ratio at such time. The applicable margin for the outstanding principal under the Term Loan will range between 1.625% per annum and 2.375% per annum based upon our Consolidated Leverage Ratio at such time. The fees and interest are subject to further adjustment based upon the Company's performance against specified key performance indicators related to certain environmental, social and governance goals of the Company. Based upon the performance of the Company against those key performance indicators in each Reference Year (as defined in the Amended Credit Agreement), certain adjustments to the otherwise applicable rates for interest, commitment fees and letter of credit fees will be made. These annual adjustments will not exceed an increase or decrease of 0.01% in the aggregate for all key performance indicators in the case of the commitment fee rate or an increase or decrease of 0.05% in the aggregate for all key performance indicators in the case of the Term SOFR borrowings, base rate borrowings or letter of credit fee rate.

Amounts borrowed under the Amended Credit Agreement may be prepaid at any time without premium or penalty. We are required to prepay the amounts outstanding under the Amended Credit Agreement in certain circumstances, including upon an Event of Default (as defined in the Amended Credit Agreement). In addition, we have the right to permanently reduce or terminate the unused portion of the commitments provided under the Amended Credit Agreement at any time.

The loans and obligations under the Amended Credit Agreement are secured pursuant to a Third Amended and Restated Security Agreement and a Third Amended and Restated Pledge Agreement (the “Pledge Agreement”) with Bank of America, N.A. as collateral agent, pursuant to which the Company and the subsidiary guarantors grant Bank of America, N.A., for the ratable benefit of the lenders under the Amended Credit Agreement, a first-priority lien, subject to permitted liens, on substantially all of the personal property assets of the Company and the subsidiary guarantors, and a pledge of 100% of the stock or other equity interests in all domestic subsidiaries and 65% of the stock or other equity interests in each “material first-tier foreign subsidiary” (as defined in the Pledge Agreement) entitled to vote and 100% of the stock or other equity interests in each material first-tier foreign subsidiary not entitled to vote.

The Amended Credit Agreement contains usual and customary representations and warranties; affirmative and negative covenants, which include limitations on liens, investments, additional indebtedness, and restricted payments; and two quarterly financial covenants as follows: (i) a maximum Consolidated Leverage Ratio (defined as the ratio of debt to consolidated EBITDA) of 3.75 to 1.00; however the maximum permitted Consolidated Leverage Ratio will increase to 4.25 to 1.00 upon the occurrence of a Qualified Acquisition (as defined in the Amended Credit Agreement), and (ii) a minimum Consolidated Interest Coverage Ratio (defined as the ratio of consolidated EBITDA to interest) of 3.00 to 1.00. Consolidated EBITDA for purposes of the financial covenants is calculated on a continuing operations basis and includes adjustments to add back non-cash goodwill impairment charges, share-based compensation costs, certain non-cash restructuring charges, pro forma historical EBITDA for businesses acquired, and other specified items in accordance with the Amended Credit Agreement. For purposes of the Consolidated Leverage Ratio, total debt is on a gross basis and is not netted against our cash balances. At June 30, 2024, we were in compliance with these financial covenants with a Consolidated Leverage Ratio of 2.24 to 1.00 and a Consolidated Interest Coverage Ratio of 10.55 to 1.00.

A summary of the carrying amounts of our debt follows:


	June 30, 2024		December 31, 2023
Revolver	$	240,000	$	324,000
Term Loan	271,562		—
Unamortized debt issuance costs - Term Loan1	(1,262)		—
Total long-term debt	510,300		324,000
Current maturities of long-term debt	(13,750)		—
Long-term debt, net of current portion	$	496,550	$	324,000

(1)In connection with establishing the Term Loan, we incurred $1.4 million of debt issuance costs which were recognized as a discount to the Term Loan. These debt issuance costs are amortized to interest expense using an effective interest rate of 7.34% over the term of the Term Loan. Unamortized debt issuance costs related to the Revolver are included as a component of other non-current assets and amortized to interest expense using the straight-line method over the term of the Revolver.

Borrowings outstanding under the Amended Credit Agreement as of June 30, 2024 and December 31, 2023 carried a weighted average interest rate of 5.2% and 4.2%, respectively, including the effect of the interest rate swaps described in Note 9 “Derivative Instruments and Hedging Activity.”

The borrowing capacity under the Revolver is reduced by any outstanding borrowings under the Revolver and outstanding letters of credit. At June 30, 2024, we had outstanding letters of credit totaling $0.6 million, which are used as security deposits for our office facilities. As of June 30, 2024, the unused borrowing capacity under the Revolver was $359.4 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenues Revenue - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenues	$ 371,654	$ 346,759	$ 727,615	$ 664,654
Performance obligation satisfied in previous period	18,200	14,800	20,500	6,300
Contract asset after allowance for credit loss	75,700		75,700		$ 70,100
Increase (decrease) in contract asset			5,600
Deferred revenues	28,583		28,583		$ 22,461
Increase (decrease) in performance obligation			6,100
Revenue recognized	4,200		19,600
Remaining performance obligation	216,500		216,500
Release of allowance
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfied in previous period	5,000	2,200	3,300	1,300
Change in estimated variable consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfied in previous period	$ 13,200	$ 12,600	$ 17,200	$ 5,000

Goodwill and Intangible Assets - Amortization Expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
2024	$ 6,536
2025	6,808
2026	5,044
2027	3,637
2028	$ 2,668

Fair Value of Financial Instruments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Asset/Liability
Assets	$ 103,710	$ 110,418
Liabilities	779	2,451
Contingent consideration for business acquisitions
Fair Value, Asset/Liability
Liabilities	694	2,074
Interest rate swaps
Fair Value, Asset/Liability
Assets	7,157	7,546
Liabilities	78	307
Foreign exchange forward contracts
Fair Value, Asset/Liability
Assets	25
Liabilities	7	70
Convertible debt investment
Fair Value, Asset/Liability
Assets	57,550	68,046
Level 2
Fair Value, Asset/Liability
Assets	46,160	42,372
Liabilities	85	377
Level 2 \| Interest rate swaps
Fair Value, Asset/Liability
Assets	7,157	7,546
Liabilities	78	307
Level 2 \| Foreign exchange forward contracts
Fair Value, Asset/Liability
Assets	25
Liabilities	7	70
Level 3
Fair Value, Asset/Liability
Assets	57,550	68,046
Liabilities	694	2,074
Level 3 \| Contingent consideration for business acquisitions
Fair Value, Asset/Liability
Liabilities	694	2,074
Level 3 \| Convertible debt investment
Fair Value, Asset/Liability
Assets	57,550	68,046
Deferred compensation assets
Fair Value, Asset/Liability
Assets	38,978	34,826
Deferred compensation assets \| Level 2
Fair Value, Asset/Liability
Assets	$ 38,978	$ 34,826

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 12,425	$ 17,284
Unbilled services, allowance for credit losses	$ 2,709	$ 5,984
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	500,000,000	500,000,000
Common stock, shares issued (shares)	20,843,283	21,316,441
Treasury Stock, Common, Shares	3,059,851	2,852,296

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 55,488	$ 38,131
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	12,005	12,549
Non-cash lease expense	3,043	3,340
Lease-related impairment charges	2,293	2,086
Share-based compensation	25,284	23,151
Amortization of debt discount and issuance costs	508	382
Allowances for doubtful accounts	2,353	53
Deferred income taxes	1,942	1,755
Gain on sale of property, plant and equipment	101	(1)
Change in fair value of contingent consideration liabilities	(416)	(233)
Changes in operating assets and liabilities, net of acquisitions and divestiture:
(Increase) decrease in receivables from clients, net	(20,372)	(4,440)
(Increase) decrease in unbilled services, net	3,057	(32,567)
(Increase) decrease in current income tax receivable / payable, net	(2,606)	(6,141)
(Increase) decrease in other assets	(14,942)	(4,880)
Increase (decrease) in accounts payable and other liabilities	(6,978)	(5,594)
Increase (decrease) in accrued payroll and related benefits	(86,400)	(44,277)
Increase (decrease) in deferred revenues	2,339	2,804
Net cash used in operating activities	(23,503)	(13,880)
Cash flows from investing activities:
Purchases of property and equipment	(3,665)	(3,725)
Payment to Acquire Life Insurance Policy, Investing Activities	(1,361)	(2,188)
Proceeds from Life Insurance Policy	0	2,956
Purchases of businesses	(20,769)	38
Capitalization of internally developed software costs	(14,138)	(12,998)
Proceeds from Sale and Collection of Notes Receivable	154	154
Proceeds from sale of property and equipment	102	0
Net cash used in investing activities	(39,677)	(15,763)
Cash flows from financing activities:
Proceeds from exercises of stock options	1,215	987
Shares redeemed for employee tax withholdings	(21,080)	(9,728)
Share repurchases	(97,264)	(60,368)
Proceeds from bank borrowings	618,500	230,000
Repayments of bank borrowings	(430,938)	(125,000)
Payments for debt issuance costs	(1,446)	(58)
Deferred payments on business acquisition	(261)	(1,500)
Net cash provided by financing activities	68,726	34,333
Effect of exchange rate changes on cash	(49)	59
Net increase in cash and cash equivalents	5,497	4,749
Cash and cash equivalents at beginning of the period	12,149	11,834
Cash and cash equivalents at end of the period	17,646	16,583
Non-cash investing and financing activities:
Property and equipment expenditures and capitalized software included in current liabilities	4,827	4,437
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	3,214	1,839
Stock Issued	8,640	0
Contingent consideration accrued related to purchases of businesses	36	0
Excise Taxes On Share Repurchases Incurred But Not Paid	$ 449	$ 385

Revenues	6 Months Ended
Revenues	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues For the three months ended June 30, 2024 and 2023, we recognized revenues of $371.7 million and $346.8 million, respectively. Of the $371.7 million recognized in the second quarter of 2024, we recognized revenues of $18.2 million from obligations satisfied, or partially satisfied, in prior periods, of which $13.2 million was due to changes in the estimates of our variable consideration under performance-based billing arrangements and $5.0 million was due to the release of allowances on receivables from clients and unbilled services. Of the $346.8 million recognized in the second quarter of 2023, we recognized revenues of $14.8 million from obligations satisfied, or partially satisfied, in prior periods, of which $12.6 million was due to changes in the estimates of our variable consideration under performance-based billing arrangements and $2.2 million was due to the release of allowances on receivables from clients and unbilled services. For the six months ended June 30, 2024 and 2023, we recognized revenues of $727.6 million and $664.7 million, respectively. Of the $727.6 million recognized in the first six months of 2024, we recognized revenues of $20.5 million from obligations satisfied, or partially satisfied, in prior periods, of which $17.2 million was due to changes in the estimates of our variable consideration under performance-based billing arrangements and $3.3 million was due to the release of allowances on receivables from clients and unbilled services. Of the $664.7 million recognized in the first six months of 2023, we recognized revenues of $6.3 million from obligations satisfied, or partially satisfied, in prior periods, of which $5.0 million was due to changes in the estimates of our variable consideration under performance-based billing arrangements and $1.3 million was due to the release of allowances on receivables from clients and unbilled services. As of June 30, 2024, we had $216.5 million of remaining performance obligations under engagements with original expected durations greater than one year. These remaining performance obligations exclude variable consideration which has been excluded from the total transaction price due to the constraint and performance obligations under time-and-expense engagements which are recognized in the amount invoiced. Of the $216.5 million of performance obligations, we expect to recognize $46.9 million as revenue in 2024, $65.7 million in 2025, and the remaining $103.9 million thereafter. Actual revenue recognition could differ from these amounts as a result of changes in the estimated timing of work to be performed, adjustments to estimated variable consideration in performance-based arrangements, or other factors. Contract Assets and Liabilities The payment terms and conditions in our customer contracts vary. Differences between the timing of billings and the recognition of revenue are recognized as either unbilled services or deferred revenues in the consolidated balance sheets. Unbilled services include revenues recognized for services performed but not yet billed to clients. Services performed that we are not yet entitled to bill because certain events, such as the completion of the measurement period or client approval in performance-based engagements, must occur are recorded as contract assets and included within unbilled services, net. The contract asset, net balance as of June 30, 2024 and December 31, 2023 was $75.7 million and $70.1 million, respectively. The $5.6 million million increase primarily reflects timing differences between the completion of our performance obligations and the amounts billed or billable to clients in accordance with their contractual billing terms. Client prepayments and retainers are classified as deferred revenues and recognized over future periods in accordance with the applicable engagement agreement and our revenue recognition accounting policy. Our deferred revenues balance as of June 30, 2024 and December 31, 2023 was $28.6 million and $22.5 million, respectively. The $6.1 million increase reflects timing differences between client payments in accordance with their contract terms and the completion of our performance obligations. For the three and six months ended June 30, 2024, $4.2 million and $19.6 million of revenues recognized were included in the deferred revenue balance as of December 31, 2023, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

A summary of the scheduled maturities of those borrowings follows:


	Scheduled Maturities of Long-Term Debt
2024	$	6,875
2025	$	13,750
2026	$	13,750
2027	$	477,187

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

A summary of the carrying amounts of our debt follows:


	June 30, 2024		December 31, 2023
Revolver	$	240,000	$	324,000
Term Loan	271,562		—
Unamortized debt issuance costs - Term Loan1	(1,262)		—
Total long-term debt	510,300		324,000
Current maturities of long-term debt	(13,750)		—
Long-term debt, net of current portion	$	496,550	$	324,000

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Line Items]
Amortization expense	$ 1.6	$ 2.0	$ 3.3	$ 4.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Financing Arrangements - Carrying Amounts (Details) - USD ($)	Jun. 30, 2024	Feb. 01, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Current maturities of long-term debt	$ (13,750,000)		$ 0
Long-term debt, net of current portion	496,550,000		324,000,000
Debt Issuance Costs, Gross		$ 1,400,000
Credit Facility
Debt Instrument [Line Items]
Net carrying amount	510,300,000		324,000,000
Revolver Credit Facility
Debt Instrument [Line Items]
Net carrying amount	240,000,000		324,000,000
Term Debt Credit Facility
Debt Instrument [Line Items]
Net carrying amount	271,562,000	$ 275,000,000	0
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$ (1,262,000)		$ 0
Effective interest rate of debt		7.34%

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments


Level 1 Inputs						Quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 Inputs						Quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Inputs						Unobservable inputs for the asset or liability, and include situations in which there is little, if any, market activity for the asset or liability.

The table below sets forth our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023.


	Level 1		Level 2		Level 3		Total
June 30, 2024
Assets:
Interest rate swaps	$	—	$	7,157	$	—	$	7,157
Convertible debt investment	—		—		57,550		57,550
Foreign exchange forward contracts	—		25		—		25
Deferred compensation assets	—		38,978		—		38,978
Total assets	$	—	$	46,160	$	57,550	$	103,710
Liabilities:
Interest rate swaps	$	—	$	78	$	—	$	78
Foreign exchange forward contracts	—		7		—		7
Contingent consideration for business acquisitions	—		—		694		694
Total liabilities	$	—	$	85	$	694	$	779
December 31, 2023
Assets:
Interest rate swaps	$	—	$	7,546	$	—	$	7,546
Convertible debt investment	—		—		68,046		68,046
Deferred compensation assets	—		34,826		—		34,826
Total assets	$	—	$	42,372	$	68,046	$	110,418
Liabilities:
Interest rate swaps	$	—	$	307	$	—	$	307
Foreign exchange forward contracts	—		70		—		70
Contingent consideration for business acquisitions	—		—		2,074		2,074
Total liabilities	$	—	$	377	$	2,074	$	2,451

Interest rate swaps: The fair values of our interest rate swaps were derived using estimates to settle the interest rate swap agreements, which are based on the net present value of expected future cash flows on each leg of the swaps utilizing market-based inputs and a discount rate reflecting the risks involved. Refer to Note 9 “Derivative Instruments and Hedging Activity” for additional information on our interest rate swaps.

Foreign exchange forward contracts: The fair values of our foreign exchange forward contracts were derived using estimates to settle the foreign exchange forward contracts agreements, which are based on the net present value of expected future cash flows on each contract utilizing market-based inputs, including both forward and spot prices, and a discount rate reflecting the risks involved. Refer to Note 9 “Derivative Instruments and Hedging Activity” for additional information on our foreign exchange forward contracts.

Deferred compensation assets: We have a non-qualified deferred compensation plan (the “Plan”) for the members of our board of directors and a select group of our employees. The deferred compensation liability is funded by the Plan assets, which consist of life insurance policies maintained within a trust. The cash surrender value of the life insurance policies approximates fair value and is based on third-party broker statements which provide the fair value of the life insurance policies' underlying investments, which are Level 2 inputs. The cash surrender value of the life insurance policies is invested primarily in mutual funds. The Plan assets are included in other non-current assets in our consolidated balance sheets. Realized and unrealized gains (losses) from the deferred compensation assets are recorded to other income (expense), net in our consolidated statements of operations.

Convertible debt investment: Since 2014, we have invested $40.9 million in the form of 1.69% convertible debt in Shorelight Holdings, LLC (“Shorelight”), the parent company of Shorelight, a U.S.-based company that partners with leading nonprofit universities to increase access to and retention of international students, boost institutional growth, and enhance an institution’s global footprint. The convertible notes will mature on January 17, 2027, unless converted earlier.

To determine the appropriate accounting treatment for our investment, we performed a variable interest entity (“VIE”) analysis and concluded that Shorelight does not meet the definition of a VIE. We also reviewed the characteristics of our investment to confirm that the convertible notes are not in-substance common stock that would warrant equity method accounting. After we reviewed all of the terms of the investment, we concluded the appropriate accounting treatment to be that of an available-for-sale debt security. We continue to monitor the key factors of our VIE analysis and the terms of the convertible notes to ensure our accounting treatment is appropriate. We have not identified any changes to Shorelight or our investment that would change our classification of the investment as an available-for-sale debt security.

The investment is carried at fair value with unrealized holding gains and losses excluded from earnings and reported in other comprehensive income. The carrying value is recorded in long-term investments in our consolidated balance sheets. We estimate the fair value of our investment using a scenario-based approach in the form of a hybrid analysis that consists of a Monte Carlo simulation model and an expected return analysis. The conclusion of value for our investment is based on the probability-weighted assessment of both scenarios. The hybrid analysis utilizes certain assumptions including the assumed holding period through the maturity date of January 17, 2027; the applicable waterfall distribution at the end of the expected holding period based on the rights and privileges of the various instruments; cash flow projections discounted at the risk-adjusted rate of 23.5% and 24.5% as of June 30, 2024 and December 31, 2023, respectively; and the concluded equity volatility of 40.0% and 35.0% as of June 30, 2024 and December 31, 2023, respectively, all of which are Level 3 inputs. The use of alternative estimates and assumptions could increase or decrease the estimated fair value of the investment, which would result in different impacts to our consolidated balance sheet and comprehensive income. Actual results may differ from our estimates.

The table below sets forth the changes in the balance of the convertible debt investment for the six months ended June 30, 2024.


	Convertible Debt Investment
Balance as of December 31, 2023	$	68,046

Change in fair value	(10,496)
Balance as of June 30, 2024	$	57,550

Contingent consideration for business acquisitions: We estimate the fair value of acquisition-related contingent consideration using either a probability-weighted assessment of the specific financial performance targets being measured or a Monte Carlo simulation model, as appropriate. These fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 inputs. The significant unobservable inputs used in the fair value measurements of our contingent consideration are our measures of the estimated payouts based on internally generated financial projections on a probability-weighted basis and a discount rate which was 6.3% as of both June 30, 2024 and December 31, 2023. The fair value of the contingent consideration is reassessed quarterly based on assumptions used in our latest projections and input provided by practice leaders and management. Any change in the fair value estimate is recorded to other gains, net in our consolidated statement of operations for that period. The use of alternative estimates and assumptions could increase or decrease the estimated fair value of our contingent consideration liability, which would result in different impacts to our consolidated balance sheets and consolidated statements of operations. Actual results may differ from our estimates.

The table below sets forth the changes in the balance of the contingent consideration for business acquisitions for the six months ended June 30, 2024.


	Contingent Consideration for Business Acquisitions
Balance as of December 31, 2023	$	2,074
Acquisition	36
Payment	(1,000)
Change in fair value	(416)
Balance as of June 30, 2024	$	694

Financial assets and liabilities not recorded at fair value on a recurring basis are as follows:

Preferred Stock Investment

In the fourth quarter of 2019, we invested $5.0 million in a hospital-at-home company. The investment was made in the form of preferred stock. To determine the appropriate accounting treatment for our preferred stock investment, we performed a VIE analysis and concluded that the company does not meet the definition of a VIE. We also reviewed the characteristics of our investment to confirm that the preferred stock is not in-substance common stock that would warrant equity method accounting. After we reviewed all of the terms of the investment,

we concluded the appropriate accounting treatment for our investment to be that of an equity security with no readily determinable fair value. We elected to apply the measurement alternative at the time of the purchase and will continue to do so until the investment does not qualify to be so measured. Under the measurement alternative, the investment is carried at cost minus impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same company. On a quarterly basis, we review the information available to determine whether an orderly and observable transaction for the same or similar equity instrument occurred or if factors indicate that a significant decrease in value has occurred. We remeasure to the fair value of the preferred stock using such identified information with changes in the fair value recorded in our consolidated statement of operations.

During the first six months of 2024 and 2023, there were no observable price changes or impairments of our preferred stock investment. Since our initial investment, we have recognized cumulative unrealized gains of $28.6 million and cumulative unrealized losses of $26.3 million. As of June 30, 2024 and December 31, 2023, the carrying value of our preferred stock investment was $7.4 million.

Senior Secured Credit Facility

The carrying value of our borrowings outstanding under our senior secured credit facility is stated at cost. Our carrying value approximates fair value, using Level 2 inputs, as the senior secured credit facility bears interest at variable rates based on current market rates as set forth in the Amended Credit Agreement. Refer to Note 7 “Financing Arrangements” for additional information on our senior secured credit facility.

Cash and Cash Equivalents and Other Financial Instruments

Cash and cash equivalents are stated at cost, which approximates fair market value. The carrying values of all other financial instruments not described above reasonably approximate fair market value due to the nature of the financial instruments and the short-term maturity of these items.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 371,654	$ 346,759	$ 727,615	$ 664,654
Consulting And Managed Services Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	218,339	197,255	419,898	374,449
Digital Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	153,315	149,504	307,717	290,205
Healthcare
Disaggregation of Revenue [Line Items]
Revenues	190,098	173,768	370,840	322,817
Healthcare \| Consulting And Managed Services Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	133,987	124,944	258,198	226,680
Healthcare \| Digital Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	56,111	48,824	112,642	96,137
Education
Disaggregation of Revenue [Line Items]
Revenues	122,753	110,694	234,336	214,841
Education \| Consulting And Managed Services Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	63,831	53,426	118,940	106,653
Education \| Digital Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	58,922	57,268	115,396	108,188
Commercial:
Disaggregation of Revenue [Line Items]
Revenues	58,803	62,297	122,439	126,996
Commercial: \| Consulting And Managed Services Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	20,521	18,885	42,760	41,116
Commercial: \| Digital Capability [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 38,282	$ 43,412	$ 79,679	$ 85,880

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Insider Trading Arrangements

3 Months Ended

6 Months Ended

Jun. 30, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

Securities Trading Plans of Directors and Executive Officers

The following table describes contracts, instructions or written plans for the sale or purchase of our securities adopted by our executive officers and/or directors during the second quarter of 2024, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), referred to as Rule 10b5-1 trading plans.

Name and Title

Action

Date of Rule 10b5-1 Trading Plan Action

Scheduled Expiration Date of Rule 10b5-1 Trading Plan

Aggregate Number of Shares to be Sold

H. Eugene Lockhart - Director

Adoption

5/9/2024

7/31/2025

25,000

James Roth - Vice Chairman of the Board

Adoption

5/18/2024

4/1/2025

43,030

Debra Zumwalt - Director

Adoption

5/21/2024

4/30/2025

886

During the second quarter of 2024, none of our executive officers or directors terminated contracts, instructions or written plans for the sale or purchase of our securities intended to satisfy the affirmative defense condition of Rule 10b5-1(c) or adopted or terminated a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K).

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

C. Mark Hussey [Member]

Trading Arrangements, by Individual

Adoption Date

5/18/2024

Aggregate Available

43,030

Other Comprehensive Income (Loss ) - Components of Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustments	$ (281)	$ 327	$ (1,003)	$ 379
Foreign currency translation adjustments	0	0	0	0
Foreign currency translation adjustments	(281)	327	(1,003)	379
Unrealized gain (loss) on investment	(8,549)	754	(10,496)	6,033
Unrealized gain (loss) on investment	2,231	(201)	2,731	(1,607)
Unrealized gain (loss) on investment	(6,318)	553	(7,765)	4,426
Net unrealized gain (loss) on interest rate swaps	(1,127)	2,463	(54)	134
Other comprehensive income (loss)	(10,355)	4,437	(11,571)	6,595
Other comprehensive income (loss)	2,629	(1,094)	2,749	(1,656)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(7,726)	3,343	(8,822)	4,939
Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Change in fair value	791	5,265	4,469	3,458
Change in fair value	(206)	(1,400)	(1,166)	(919)
Change in fair value	585	3,865	3,303	2,539
Reclassification adjustments into earnings	(2,344)	(1,941)	(4,629)	(3,473)
Reclassification adjustments into earnings	612	516	1,208	923
Reclassification adjustments into earnings	(1,732)	(1,425)	(3,421)	(2,550)
Net unrealized gain (loss) on interest rate swaps	(1,553)	3,324	(160)	(15)
Net unrealized gain (loss) on interest rate swaps	406	(884)	42	4
Net unrealized gain (loss) on interest rate swaps	(1,147)	2,440	(118)	(11)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent			(118)
Foreign exchange forward contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Change in fair value	22	46	68	200
Change in fair value	(6)	(12)	(18)	(53)
Change in fair value	16	34	50	147
Reclassification adjustments into earnings	6	(14)	20	(2)
Reclassification adjustments into earnings	(2)	3	(6)	0
Reclassification adjustments into earnings	4	(11)	14	(2)
Net unrealized gain (loss) on interest rate swaps	28	32	88	198
Net unrealized gain (loss) on interest rate swaps	(8)	(9)	(24)	(53)
Net unrealized gain (loss) on interest rate swaps	$ 20	$ 23	64	$ 145
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent			$ 64

Description of Business (Details)	6 Months Ended
Description of Business (Details)	Jun. 30, 2024 Segment
Accounting Policies [Abstract]
Number of reportable segments	3

Restructuring Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Charges [Abstract]
Total operating expenses	$ 2,056	$ 1,699	$ 4,393	$ 3,983
Restructuring Reserve, Employee Costs, Period of Payment			12 months
Payment period			12 months
Restructuring reserve	898		$ 898		$ 1,901
Employee Severance [Member]
Restructuring Charges [Abstract]
Total operating expenses		900	1,000	900
Restructuring reserve	350		350		1,366
Previously Vacated Office Space \| Office Space Reductions that were initiated in prior periods
Restructuring Charges [Abstract]
Total operating expenses	600	200	1,100	600
Other Restructuring [Member]
Restructuring Charges [Abstract]
Restructuring reserve	548		548		$ 535
Office Space Reductions \| Additional Impairment on Previously Vacated Office Spaces
Restructuring Charges [Abstract]
Total operating expenses		200	800	200
Office Space Reductions \| 200 S. Michigan Ave Office Exit
Restructuring Charges [Abstract]
Total operating expenses	$ 1,400		$ 1,400
Q1 2023 Hillsboro Office Exit
Restructuring Charges [Abstract]
Total operating expenses				1,900
Abandoned Capitalized Software Development Project
Restructuring Charges [Abstract]
Total operating expenses		$ 300		$ 300

Label

Element

Value

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

100,000

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

100,000

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

100,000

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount

100,000

Additional Impairment on Previously Vacated Office Spaces [Member] | Office Space Reductions [Member]

Restructuring and Related Activities Disclosure [Text Block]

us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock

Restructuring Charges

Restructuring charges for the three and six months ended June 30, 2024 were $2.1 million and $4.4 million, respectively. In the second quarter of 2024, we exited the office space previously occupied by GG+A, which resulted in a $1.4 million non-cash impairment charge on the related right-of-use operating lease asset and fixed assets of that office space. Additionally, in the second quarter of 2024, we recognized $0.6 million of restructuring expense for rent and related expenses, net of sublease income, for previously vacated office spaces. The $4.4 million restructuring charge recognized in the first six months of 2024 included $1.4 million related to the non-cash lease impairment charges on the right-of-use operating lease asset and fixed assets of the exited office space previously occupied by GG+A; $1.1 million of rent and related expenses, net of sublease income, for previously vacated office spaces; $1.0 million of severance-related expenses; and $0.8 million related to non-cash lease impairment charges driven by updated sublease assumptions for our previously vacated office spaces.

Restructuring charges for the three and six months ended June 30, 2023 were $1.7 million and $4.0 million. The $1.7 million of restructuring charges recognized in the second quarter of 2023 included $0.9 million of severance-related expenses; $0.3 million related to

the abandonment of a capitalized software development project; $0.2 million of rent and related expenses, net of sublease income, for

previously vacated office spaces; and $0.2 million related to non-cash lease impairment charges driven by updated sublease assumptions for

previously vacated office spaces. The $4.0 million of restructuring charges incurred in the first six months of 2023 included a $1.9 million noncash impairment charge on the fixed assets and right-of-use operating lease asset related to our office space in Hillsboro, Oregon, which we exited in the first quarter of 2023; $0.9 million of severance-related expenses; $0.6 million for rent and related expenses, net of sublease income, for previously vacated office spaces; $0.3 million related to the abandonment of a capitalized software development project; and $0.2 million related to non-cash lease impairment charges driven by updated sublease assumptions for previously vacated office spaces.

The table below sets forth the changes in the carrying value of our restructuring charge liability by restructuring type for the six months ended June 30, 2024.


	Employee Costs		Other		Total
Balance as of December 31, 2023	$	1,366	$	535	$	1,901
Additions	1,009		—		1,009
Payments	(2,008)		—		(2,008)
Adjustments	(17)		13		(4)
Balance as of June 30, 2024	$	350	$	548	$	898

All of the $0.4 million restructuring charge liability related to employee costs at June 30, 2024 is expected to be paid in the next 12 months and is included as a component of accrued payroll and related benefits in our consolidated balance sheet. All of the $0.5 million other restructuring charge liability at June 30, 2024, which primarily relates to the early termination of a contract in a prior period, is expected to be paid in the next 12 months and is included as a component of accrued expenses and other current liabilities in our consolidated balance sheet.

Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Components of Other Comprehensive Income (Loss), Net of Tax

The table below sets forth the components of other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2024 and 2023.


	Three Months Ended June 30, 2024						Three Months Ended June 30, 2023
	Before Taxes		Tax (Expense) Benefit		Net of Taxes		Before Taxes		Tax (Expense) Benefit		Net of Taxes
Foreign currency translation adjustments	$	(281)	$	—	$	(281)	$	327	$	—	$	327
Unrealized gain (loss) on investment	$	(8,549)	$	2,231	$	(6,318)	$	754	$	(201)	$	553
Interest rate swaps:
Change in fair value	$	791	$	(206)	$	585	$	5,265	$	(1,400)	$	3,865
Reclassification adjustments into earnings	(2,344)		612		(1,732)		(1,941)		516		(1,425)
Net unrealized gain (loss) on interest rate swaps	$	(1,553)	$	406	$	(1,147)	$	3,324	$	(884)	$	2,440
Foreign exchange forward contracts:
Change in fair value	$	22	$	(6)	$	16	$	46	$	(12)	$	34
Reclassification adjustments into earnings	6		(2)		4		(14)		3		(11)
Net unrealized gain (loss) on foreign exchange forward contracts	$	28	$	(8)	$	20	$	32	$	(9)	$	23
Other comprehensive income (loss)	$	(10,355)	$	2,629	$	(7,726)	$	4,437	$	(1,094)	$	3,343



	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
	Before Taxes		Tax (Expense) Benefit		Net of Taxes		Before Taxes		Tax (Expense) Benefit		Net of Taxes
Foreign currency translation adjustments	$	(1,003)	$	—	$	(1,003)	$	379	$	—	$	379
Unrealized gain (loss) on investment	$	(10,496)	$	2,731	$	(7,765)	$	6,033	$	(1,607)	$	4,426
Interest rate swaps:
Change in fair value	$	4,469	$	(1,166)	$	3,303	$	3,458	$	(919)	$	2,539
Reclassification adjustments into earnings	(4,629)		1,208		(3,421)		(3,473)		923		(2,550)
Net unrealized gain (loss) on interest rate swaps	$	(160)	$	42	$	(118)	$	(15)	$	4	$	(11)
Foreign exchange forward contracts:
Change in fair value	$	68	$	(18)	$	50	$	200	$	(53)	$	147
Reclassification adjustments into earnings	20		(6)		14		(2)		—		(2)
Net unrealized gain (loss) on foreign exchange forward contracts	$	88	$	(24)	$	64	$	198	$	(53)	$	145
Other comprehensive income (loss)	$	(11,571)	$	2,749	$	(8,822)	$	6,595	$	(1,656)	$	4,939

Components of Accumulated Other Comprehensive Income (Loss), Net of Tax

Accumulated other comprehensive income, net of tax, includes the following components:


					Cash Flow Hedges
	Foreign Currency Translation		Available-for-Sale Investment		Interest Rate Swaps		Foreign Exchange Forward Contracts		Total
Balance as of December 31, 2023	$	(2,521)	$	20,039	$	5,361	$	(52)	$	22,827
Current period change	(1,003)		(7,765)		(118)		64		(8,822)
Balance as of June 30, 2024	$	(3,524)	$	12,274	$	5,243	$	12	$	14,005

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The accompanying unaudited consolidated financial statements reflect the financial position, results of operations, and cash flows as of and for the three and six months ended June 30, 2024 and 2023. These financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q. Accordingly, these financial statements do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements. In the opinion of management, these financial statements reflect all adjustments of a normal, recurring nature necessary for the fair statement of our financial position, results of operations, and cash flows for the interim periods presented in conformity with GAAP. These financial statements should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the period ended March 31, 2024. Our results for any interim period are not necessarily indicative of results for a full year or any other interim period. In the second quarter of 2024, we revised the presentation of our consolidated statement of operations and other comprehensive income (loss) to separately present other gains, net previously presented within selling, general and administrative expenses. The change in presentation has no effect on our consolidated results, and our historical consolidated statements of operations and other comprehensive income (loss) were revised for consistent presentation.

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Intangible assets
Gross Carrying Amount	$ 50,512	$ 83,586
Accumulated Amortization	26,394	65,512
Customer relationships
Intangible assets
Gross Carrying Amount	26,632	60,636
Accumulated Amortization	$ 8,250	48,928
Customer relationships \| Minimum
Intangible assets
Useful Life (in years)	5 years
Customer relationships \| Maximum
Intangible assets
Useful Life (in years)	10 years
Technology and software
Intangible assets
Gross Carrying Amount	$ 16,230	16,230
Accumulated Amortization	$ 11,483	10,195
Technology and software \| Minimum
Intangible assets
Useful Life (in years)	2 years
Technology and software \| Maximum
Intangible assets
Useful Life (in years)	5 years
Trade names
Intangible assets
Useful Life (in years)	6 years
Gross Carrying Amount	$ 6,000	6,000
Accumulated Amortization	6,000	6,000
Non-competition agreements
Intangible assets
Gross Carrying Amount	950	720
Accumulated Amortization	$ 489	389
Non-competition agreements \| Minimum
Intangible assets
Useful Life (in years)	3 years
Non-competition agreements \| Maximum
Intangible assets
Useful Life (in years)	5 years
Customer contracts
Intangible assets
Gross Carrying Amount	$ 700	0
Accumulated Amortization	$ 172	$ 0
Customer contracts \| Minimum
Intangible assets
Useful Life (in years)	1 year
Customer contracts \| Maximum
Intangible assets
Useful Life (in years)	4 years

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	ncome Taxes For the three months ended June 30, 2024, our effective tax rate was 28.1% as we recognized income tax expense of $14.6 million on income of $52.1 million. The effective tax rate of 28.1% was less favorable than the statutory rate, inclusive of state income taxes, of 26.1%, primarily due to certain nondeductible expense items. For the three months ended June 30, 2023, our effective tax rate was 29.4% as we recognized income tax expense of $10.3 million on income of $35.0 million. The effective tax rate of 29.4% was less favorable than the statutory rate, inclusive of state income taxes, of 26.6%, primarily due to certain nondeductible expense items, partially offset by a tax benefit related to non-taxable gains on our investments used to fund our deferred compensation liability. For the six months ended June 30, 2024, our effective tax rate was 20.3% as we recognized income tax expense of $14.2 million on income of $69.7 million. The effective tax rate of 20.3% was more favorable than the statutory rate, inclusive of state income taxes, of 26.1%, primarily due to a discrete tax benefit for share-based compensation awards that vested during the first quarter of 2024 and a tax benefit related to non-taxable gains on our investments used to fund our deferred compensation liability. These favorable items were partially offset by certain nondeductible expense items. For the six months ended June 30, 2023, our effective tax rate was 25.0% as we recognized income tax expense of $12.7 million on income of $50.8 million. The effective tax rate of 25.0% was more favorable than the statutory rate, inclusive of state income taxes, of 26.6%, primarily due to a discrete tax benefit for share-based compensation awards that vested during the first quarter of 2023 and a tax benefit related to non-taxable gains on our investments used to fund our deferred compensation liability. These favorable items were partially offset by certain nondeductible expense items.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Fair Value of Financial Instruments - Narrative (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2019 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	$ 64,918	$ 75,414
Shorelight Holdings LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity date	Jan. 17, 2027	Jan. 17, 2027
Contingent consideration for business acquisitions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.063	0.063
Convertible debt investment \| Shorelight Holdings LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	$ 40,900
Interest rate (as a percent)	1.69%
Preferred Stock \| Medically Home Group Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments			$ 5,000
Equity securities without readily determinable fair value	$ 7,400	$ 7,400
Cumulative unrealized gains	28,600
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount	$ 26,300
Discount rate \| Convertible debt investment \| Shorelight Holdings LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.235	0.245
Price volatility \| Convertible debt investment \| Shorelight Holdings LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.400	0.350

Financing Arrangements - Narrative (Details)	1 Months Ended	6 Months Ended
Financing Arrangements - Narrative (Details)	Feb. 29, 2024 USD ($)	Jun. 30, 2024 USD ($)	Feb. 01, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Outstanding letters of credit		$ 600,000		$ 500,000
Long-Term Debt, Gross		511,600,000
Term Debt Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 3,400,000
Credit Facility
Debt Instrument [Line Items]
Option to increase revolving credit facility	$ 250,000,000
Commitment Fee Rate Increase/Decrease from KPIs	0.01%
Term SOFR Borrowings Increase/Decrease from KPIs	0.05%
Percentage of other equity interests in domestic subsidiaries	100.00%
Percentage of other equity interests in foreign subsidiaries	65.00%
Percentage of Pledged Voting Stock in Foreign Subsidiary not Entitled to Vote	100.00%
Maximum consolidated leverage ratio	3.75
Additional increase of consolidated leverage ratio	4.25
Minimum consolidated interest coverage ratio			3.00
Actual consolidated leverage ratio		2.24
Actual interest coverage ratio		10.55
Percentage of weighted average interest rate of borrowings		5.20%		4.20%
Maturity date		Nov. 15, 2027
Maximum Borrowing Capacity			$ 1,130,000,000
Revolver Credit Facility
Debt Instrument [Line Items]
Revolving credit facility		$ 600,000,000
Unused borrowing capacity under Credit Agreement		$ 359,400,000
Minimum \| Base rate \| Revolver Credit Facility
Debt Instrument [Line Items]
Interest rate on borrowings (as a percent)	0.125%
Minimum \| Secured Overnight Financing Rate (SOFR) \| Term Debt Credit Facility
Debt Instrument [Line Items]
Interest rate on borrowings (as a percent)	1.625%
Minimum \| Secured Overnight Financing Rate (SOFR) \| Revolver Credit Facility
Debt Instrument [Line Items]
Interest rate on borrowings (as a percent)	1.125%
Maximum \| Base rate \| Revolver Credit Facility
Debt Instrument [Line Items]
Interest rate on borrowings (as a percent)	0.875%
Maximum \| Secured Overnight Financing Rate (SOFR) \| Term Debt Credit Facility
Debt Instrument [Line Items]
Interest rate on borrowings (as a percent)	2.375%
Maximum \| Secured Overnight Financing Rate (SOFR) \| Revolver Credit Facility
Debt Instrument [Line Items]
Interest rate on borrowings (as a percent)	1.875%

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The table below sets forth our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023.


	Level 1		Level 2		Level 3		Total
June 30, 2024
Assets:
Interest rate swaps	$	—	$	7,157	$	—	$	7,157
Convertible debt investment	—		—		57,550		57,550
Foreign exchange forward contracts	—		25		—		25
Deferred compensation assets	—		38,978		—		38,978
Total assets	$	—	$	46,160	$	57,550	$	103,710
Liabilities:
Interest rate swaps	$	—	$	78	$	—	$	78
Foreign exchange forward contracts	—		7		—		7
Contingent consideration for business acquisitions	—		—		694		694
Total liabilities	$	—	$	85	$	694	$	779
December 31, 2023
Assets:
Interest rate swaps	$	—	$	7,546	$	—	$	7,546
Convertible debt investment	—		—		68,046		68,046
Deferred compensation assets	—		34,826		—		34,826
Total assets	$	—	$	42,372	$	68,046	$	110,418
Liabilities:
Interest rate swaps	$	—	$	307	$	—	$	307
Foreign exchange forward contracts	—		70		—		70
Contingent consideration for business acquisitions	—		—		2,074		2,074
Total liabilities	$	—	$	377	$	2,074	$	2,451

Fair Value of Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The table below sets forth the changes in the balance of the convertible debt investment for the six months ended June 30, 2024.


	Convertible Debt Investment
Balance as of December 31, 2023	$	68,046

Change in fair value	(10,496)
Balance as of June 30, 2024	$	57,550

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below sets forth the changes in the balance of the contingent consideration for business acquisitions for the six months ended June 30, 2024.


	Contingent Consideration for Business Acquisitions
Balance as of December 31, 2023	$	2,074
Acquisition	36
Payment	(1,000)
Change in fair value	(416)
Balance as of June 30, 2024	$	694

Consolidated Statements of Operations and Other Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues and reimbursable expenses:
Revenues	$ 371,654	$ 346,759	$ 727,615	$ 664,654
Reimbursable expenses	9,363	8,140	16,787	16,630
Total revenues and reimbursable expenses	381,017	354,899	744,402	681,284
Operating expenses:
Direct costs (exclusive of depreciation and amortization included below)	248,605	235,198	501,908	463,581
Reimbursable expenses	9,427	8,121	17,011	16,745
Selling, general and administrative expenses	71,410	64,642	144,110	126,496
Other Nonrecurring Gain	15,917	623	14,349	188
Restructuring charges	2,056	1,699	4,393	3,983
Depreciation and amortization	6,033	6,143	12,005	12,517
Total operating expenses	321,614	315,180	665,078	623,134
Operating income	59,403	39,719	79,324	58,150
Other income (expense), net:
Interest expense, net of interest income	(7,954)	(5,796)	(13,094)	(10,099)
Other income, net	646	1,062	3,425	2,781
Total other expense, net	(7,308)	(4,734)	(9,669)	(7,318)
Income before taxes	52,095	34,985	69,655	50,832
Income tax expense	14,613	10,273	14,167	12,701
Net income	$ 37,482	$ 24,712	$ 55,488	$ 38,131
Earnings per share:
Net income per basic share (in dollars per share)	$ 2.10	$ 1.30	$ 3.08	$ 2.00
Net income (USD per share)	$ 2.03	$ 1.27	$ 2.96	$ 1.95
Weighted average shares used in calculating earnings per share:
Basic (shares)	17,887	18,939	18,042	19,029
Diluted (shares)	18,454	19,486	18,741	19,598
Comprehensive income (loss):
Net income (loss)	$ 37,482	$ 24,712	$ 55,488	$ 38,131
Foreign currency translation adjustments, net of tax	(281)	327	(1,003)	379
Unrealized gain (loss) on investment, net of tax	(6,318)	553	(7,765)	4,426
Unrealized gain (loss) on cash flow hedging instruments, net of tax	(1,127)	2,463	(54)	134
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total	(7,726)	3,343	(8,822)	4,939
Comprehensive income	$ 29,756	$ 28,055	$ 46,666	$ 43,070

Derivative Instruments and Hedging Activity - Narrative (Details) $ in Thousands, ₨ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 INR (₨)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 INR (₨)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Duration of SOFR	1 month
Interest rate cash flow hedge gain (loss) to be reclassified	$ 4,600
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 100
Gain (loss) reclassification from accumulated OCI to income, estimate of time to transfer	12 months
Total Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	$ 78		$ 307
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap agreement for a notional amount	$ 300,000		250,000
Interest rate swap agreement, end date	Jan. 31, 2029
Foreign exchange forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap agreement for a notional amount	$ 7,500	₨ 629.2	$ 16,600	₨ 1,375.7
Interest rate swap agreement, end date	Apr. 30, 2025

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	28.10%	29.40%	20.30%	25.00%
Income tax expense	$ 14,613	$ 10,273	$ 14,167	$ 12,701
Income from continuing operations before income tax expense	$ 52,095	$ 34,985	$ 69,655	$ 50,832
Statutory income tax rate, inclusive of state income tax (as a percent)			26.10%	26.60%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value of Financial Instruments - Contingent Consideration for Business Acquisitions (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning balance	$ 2,451
Ending balance	779
Contingent consideration for business acquisitions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Asset Acquisition, Contingent Consideration, Liability	36
Contingent consideration for business acquisitions \| Fair value, measurements, recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Roll Forward]
Beginning balance	2,074
Change in fair value	(416)
Ending balance	694
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	$ 1,000