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10-Q Filing

HURON CONSULTING GROUP INC. CIK: 1289848 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0001193125-15-153099
Period End Date 20150331
Filing Date 20150428
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance hurn-20150331.xml
Filing Contents
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $21.64M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $256.87M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 25.34M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 24.98M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.13M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.18M USD Point-in-time
Treasury stock, shares TreasuryStockShares 2.17M shares Point-in-time
Receivables from clients, net AccountsReceivableNetCurrent $98.64M USD Point-in-time
Receivables from clients, net AccountsReceivableNetCurrent $115.49M USD Point-in-time
Treasury stock, shares TreasuryStockShares 2.10M shares Point-in-time
Unbilled services, net UnbilledServicesNetCurrent $91.39M USD Point-in-time
Unbilled services, net UnbilledServicesNetCurrent $105.71M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $8.12M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $8.41M USD Point-in-time
Deferred income taxes, net DeferredTaxAssetsNetCurrent $14.15M USD Point-in-time
Deferred income taxes, net DeferredTaxAssetsNetCurrent $14.77M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpensesAndOtherCurrentAssets $16.36M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpensesAndOtherCurrentAssets $14.22M USD Point-in-time
Total current assets AssetsCurrent $486.16M USD Point-in-time
Total current assets AssetsCurrent $265.18M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $48.98M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $44.68M USD Point-in-time
Long-term investment LongTermInvestments $14.70M USD Point-in-time
Long-term investment LongTermInvestments $12.25M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $21.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $26.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $24.68M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $119.11M USD Point-in-time
Goodwill Goodwill $567.15M USD Point-in-time
Goodwill Goodwill $807.68M USD Point-in-time
Total assets Assets $1.28B USD Point-in-time
Total assets Assets $1.16B USD Point-in-time
Accounts payable AccountsPayableCurrent $12.71M USD Point-in-time
Accounts payable AccountsPayableCurrent $11.09M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $22.05M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $17.32M USD Point-in-time
Accrued payroll and related benefits EmployeeRelatedLiabilitiesCurrent $106.49M USD Point-in-time
Accrued payroll and related benefits EmployeeRelatedLiabilitiesCurrent $42.70M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $28.75M USD Point-in-time
Deferred revenues DeferredRevenueCurrent $19.60M USD Point-in-time
Deferred revenues DeferredRevenueCurrent $12.74M USD Point-in-time
Total current liabilities LiabilitiesCurrent $176.38M USD Point-in-time
Total current liabilities LiabilitiesCurrent $97.06M USD Point-in-time
Deferred compensation and other liabilities DeferredCompensationAndOtherLiabilities $16.93M USD Point-in-time
Deferred compensation and other liabilities DeferredCompensationAndOtherLiabilities $10.84M USD Point-in-time
Long-term debt, net of current portion LongTermDebtNoncurrent $498.36M USD Point-in-time
Long-term debt, net of current portion LongTermDebtNoncurrent $327.85M USD Point-in-time
Deferred lease incentives DeferredRentCreditNoncurrent $13.36M USD Point-in-time
Deferred lease incentives DeferredRentCreditNoncurrent $13.83M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $45.51M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilitiesNoncurrent $26.86M USD Point-in-time
Total non-current liabilities LiabilitiesNoncurrent $574.63M USD Point-in-time
Total non-current liabilities LiabilitiesNoncurrent $378.90M USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock; $0.01 par value; 500,000,000 shares authorized; 25,336,102 and 24,976,395 shares issued at March 31, 2015 and December 31, 2014, respectively CommonStockValue $244.00K USD Point-in-time
Common stock; $0.01 par value; 500,000,000 shares authorized; 25,336,102 and 24,976,395 shares issued at March 31, 2015 and December 31, 2014, respectively CommonStockValue $241.00K USD Point-in-time
Treasury stock, at cost, 2,168,191 and 2,097,173 shares at March 31, 2015 and December 31, 2014, respectively TreasuryStockValue $94.07M USD Point-in-time
Treasury stock, at cost, 2,168,191 and 2,097,173 shares at March 31, 2015 and December 31, 2014, respectively TreasuryStockValue $98.81M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $455.66M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $442.31M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $256.32M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $254.81M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-3.35M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.65M USD Point-in-time
Total stockholders' equity StockholdersEquity $600.63M USD Point-in-time
Total stockholders' equity StockholdersEquity $610.06M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.16B USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $1.28B USD Point-in-time
Income Statement 56 line items
Line Item Tag Value Unit Period
Revenues SalesRevenueServicesNet $210.73M USD 1 Quarter
Revenues SalesRevenueServicesNet $187.85M USD 1 Quarter
Reimbursable expenses ReimbursementRevenue $17.16M USD 1 Quarter
Reimbursable expenses ReimbursementRevenue $19.10M USD 1 Quarter
Total revenues and reimbursable expenses Revenues $229.83M USD 1 Quarter
Total revenues and reimbursable expenses Revenues $205.01M USD 1 Quarter
Direct costs CostOfServices $125.00M USD 1 Quarter
Direct costs CostOfServices $123.61M USD 1 Quarter
Amortization of intangible assets and software development costs CostOfServicesDepreciationAndAmortization $2.51M USD 1 Quarter
Amortization of intangible assets and software development costs CostOfServicesDepreciationAndAmortization $1.10M USD 1 Quarter
Reimbursable expenses CostOfReimbursableExpense $19.43M USD 1 Quarter
Reimbursable expenses CostOfReimbursableExpense $17.25M USD 1 Quarter
Total direct costs and reimbursable expenses CostOfRevenue $144.77M USD 1 Quarter
Total direct costs and reimbursable expenses CostOfRevenue $144.14M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $37.69M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $42.33M USD 1 Quarter
Restructuring charges RestructuringCharges $1.59M USD 1 Quarter
Restructuring charges RestructuringCharges $129.00K USD 1 Quarter
Other gain GainLossRelatedToLitigationSettlementAndOtherOperatingGains $226.00K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $6.06M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $7.78M USD 1 Quarter
Total operating expenses and other operating gain OperatingExpenses $51.47M USD 1 Quarter
Total operating expenses and other operating gain OperatingExpenses $43.87M USD 1 Quarter
Operating income OperatingIncomeLoss $8.77M USD 1 Quarter
Operating income OperatingIncomeLoss $41.82M USD 1 Quarter
Interest expense, net of interest income InterestExpenseNetOfInterestIncome $4.39M USD 1 Quarter
Interest expense, net of interest income InterestExpenseNetOfInterestIncome $1.37M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $176.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-727.00K USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-5.12M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-1.20M USD 1 Quarter
Income before income tax expense IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $40.62M USD 1 Quarter
Income before income tax expense IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $3.65M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.15M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $6.50M USD 1 Quarter
Net income NetIncomeLoss $1.50M USD 1 Quarter
Net income NetIncomeLoss $34.13M USD 1 Quarter
Basic EarningsPerShareBasic $0.07 USD 1 Quarter
Basic EarningsPerShareBasic $1.51 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.07 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.48 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 22.59M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 22.13M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 22.60M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.09M shares 1 Quarter
Net income NetIncomeLoss $1.50M USD 1 Quarter
Net income NetIncomeLoss $34.13M USD 1 Quarter
Foreign currency translation loss, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-106.00K USD 1 Quarter
Foreign currency translation loss, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-436.00K USD 1 Quarter
Unrealized loss on investment, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-50.00K USD 1 Quarter
Unrealized loss on cash flow hedging instruments, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-24.00K USD 1 Quarter
Unrealized loss on cash flow hedging instruments, net of tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-209.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-695.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-130.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $34.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $807.00K USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $1.50M USD 1 Quarter
Net income NetIncomeLoss $34.13M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $10.29M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $7.16M USD 1 Quarter
Share-based compensation ShareBasedCompensation $5.14M USD 1 Quarter
Share-based compensation ShareBasedCompensation $5.28M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $2.37M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $342.00K USD 1 Quarter
Allowances for doubtful accounts and unbilled services AllowancesForDoubtfulAccountsAndUnbilledServices $-72.00K USD 1 Quarter
Allowances for doubtful accounts and unbilled services AllowancesForDoubtfulAccountsAndUnbilledServices $-1.90M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $9.83M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $2.72M USD 1 Quarter
(Increase) decrease in receivables from clients IncreaseDecreaseInAccountsReceivable $6.55M USD 1 Quarter
(Increase) decrease in receivables from clients IncreaseDecreaseInAccountsReceivable $-27.76M USD 1 Quarter
(Increase) decrease in unbilled services IncreaseDecreaseInUnbilledReceivables $7.98M USD 1 Quarter
(Increase) decrease in unbilled services IncreaseDecreaseInUnbilledReceivables $34.33M USD 1 Quarter
(Increase) decrease in current income tax receivable / payable, net IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $-13.70M USD 1 Quarter
(Increase) decrease in current income tax receivable / payable, net IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $-359.00K USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-5.44M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-1.82M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $8.29M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $9.89M USD 1 Quarter
Increase (decrease) in accrued payroll and related benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-62.45M USD 1 Quarter
Increase (decrease) in accrued payroll and related benefits IncreaseDecreaseInEmployeeRelatedLiabilities $-57.17M USD 1 Quarter
Increase (decrease) in deferred revenues IncreaseDecreaseInDeferredRevenue $-1.96M USD 1 Quarter
Increase (decrease) in deferred revenues IncreaseDecreaseInDeferredRevenue $3.24M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-42.15M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-9.16M USD 1 Quarter
Purchases of property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $4.84M USD 1 Quarter
Purchases of property and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $6.48M USD 1 Quarter
Investment in life insurance policies PaymentsForProceedsFromLifeInsurancePolicies $4.94M USD 1 Quarter
Investment in life insurance policies PaymentsForProceedsFromLifeInsurancePolicies $167.00K USD 1 Quarter
Purchases of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $331.81M USD 1 Quarter
Purchases of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $17.43M USD 1 Quarter
Purchase of convertible debt investment PaymentsToAcquireAvailableForSaleSecuritiesDebt $2.50M USD 1 Quarter
Proceeds from note receivable ProceedsFromSaleAndCollectionOfNotesReceivable $219.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-22.22M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-345.73M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $740.00K USD 1 Quarter
Shares redeemed for employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.07M USD 1 Quarter
Shares redeemed for employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $4.49M USD 1 Quarter
Tax benefit from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $2.73M USD 1 Quarter
Tax benefit from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $3.48M USD 1 Quarter
Proceeds from borrowings under credit facility ProceedsFromLongTermLinesOfCredit $197.50M USD 1 Quarter
Repayments on credit facility RepaymentsOfLongTermDebt $6.25M USD 1 Quarter
Repayments on credit facility RepaymentsOfLongTermDebt $57.50M USD 1 Quarter
Payments for capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $21.00K USD 1 Quarter
Payments for capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $20.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-5.12M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $138.23M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $14.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-34.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-36.49M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-249.69M USD 1 Quarter
Cash and cash equivalents at beginning of the period CashAndCashEquivalentsAtCarryingValue $21.64M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalentsAtCarryingValue $256.87M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalentsAtCarryingValue $58.13M USD Point-in-time
Cash and cash equivalents at beginning of the period CashAndCashEquivalentsAtCarryingValue $7.18M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalentsAtCarryingValue $21.64M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalentsAtCarryingValue $256.87M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalentsAtCarryingValue $58.13M USD Point-in-time
Cash and cash equivalents at end of the period CashAndCashEquivalentsAtCarryingValue $7.18M USD Point-in-time
Property and equipment expenditures included in accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $1.86M USD 1 Quarter
Property and equipment expenditures included in accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $4.17M USD 1 Quarter
Contingent consideration related to business acquisitions ContingentConsiderationTransactionValueRelatedToBusinessAcquisition $900.00K USD 1 Quarter
Contingent consideration related to business acquisitions ContingentConsiderationTransactionValueRelatedToBusinessAcquisition $590.00K USD 1 Quarter
Common stock issued related to business acquisition StockIssued1 $2.20M USD 1 Quarter
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquity $600.63M USD Point-in-time
Beginning Balance StockholdersEquity $610.06M USD Point-in-time
Comprehensive income ComprehensiveIncomeNetOfTax $34.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $807.00K USD 1 Quarter
Business acquisition StockIssuedDuringPeriodValueAcquisitions $2.20M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.17M USD 1 Quarter
Shares redeemed for employee tax withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $-4.49M USD 1 Quarter
Income tax benefit on share-based compensation AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation $2.73M USD 1 Quarter
Ending Balance StockholdersEquity $600.63M USD Point-in-time
Ending Balance StockholdersEquity $610.06M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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