Company: HLI
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001302215-25-000024
Chunk: 132

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-05-15
Form: 10-K
Item: Item 9
Chunk 132
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 (CONTINUED)(In thousands, except share data or as otherwise stated)

Year Ended March 31,202520242023Revenues by segmentCorporate Finance$1,526,756 $1,106,826 $1,127,126 Financial Restructuring544,478 521,984 395,733 Financial and Valuation Advisory318,182 285,594 286,588 Revenues2,389,416 1,914,404 1,809,447 Employee compensation and benefits by segment (1)Corporate Finance871,313 638,072 623,884 Financial Restructuring289,979 282,431 238,032 Financial and Valuation Advisory175,412 155,502 159,254 Non-compensation expense by segmentCorporate Finance181,020 166,221 149,167 Financial Restructuring45,193 45,437 36,083 Financial and Valuation Advisory54,187 55,670 45,946 Segment profitCorporate Finance474,423 302,533 354,075 Financial Restructuring209,306 194,116 121,618 Financial and Valuation Advisory88,583 74,422 81,388 Total segment profit772,312 571,071 557,081 Corporate expenses (2)270,768 208,210 215,343 Operating income501,544 362,861 341,738 Other (income)/expense, net(29,791)(27,678)17,738 Income before provision for income taxes$531,335 $390,539 $324,000 (1)We adjust the compensation expense for a business segment in situations where an employee residing in one business segment is performing work in another business segment where the revenues are accrued. Segment profit may vary significantly between periods depending on the levels of collaboration among the different segments.(2)Corporate expenses represent expenses that are not allocated to individual business segments such as those related to executive management, accounting, information technology, legal and compliance, marketing, and human capital. March 31, 2025March 31, 2024Assets by segmentCorporate Finance$1,312,291 $1,147,432 Financial Restructuring179,498 192,185 Financial and Valuation Advisory207,162 170,627 Total segment assets1,698,951 1,510,