Some folks could look at the $5.99 of adjusted EBITDA -- sorry, the adjusted earnings per share for 2020 and point out, it's another record year, another record year of adjusted earnings per share for the company.
We increased our billable headcount by 14.5%.
We seized the opportunity created by disruptions in the market to attract 36 terrific SMDs laterally.
Revenues of $2.461 billion increased $108.6 million or 4.6%.
GAAP earnings per share of $5.67 compared to GAAP earnings per share of $5.69 in 2019.
Adjusted earnings per share of $5.99 compared to adjusted earnings per share of $5.80 in 2019.
As Steve mentioned, our GAAP and adjusted earnings per share included a significant tax benefit that boosted full-year 2020 earnings per share by $0.30.
And adjusted EBITDA of $332.3 million was down from $343.9 million in 2019.
In 2020, our total billable headcount for the company grew 14.5%, on top of the 17.8% growth in 2019.
For the quarter, revenues of $626.6 million increased $24.4 million or 4%.
GAAP earnings per share of $1.57 compared to $0.76 in the prior-year quarter.
Noteworthy during the quarter, we recorded an $11.2 million tax benefit from the use of foreign tax credits in the United States and a deferred tax benefit arising from an intellectual property license agreement between our U.S. and U.K. subsidiaries, which boosted both GAAP earnings per share and adjusted earnings per share by $0.32 for the quarter.
Additionally, the impact of lower WASO from share repurchases increased earnings per share by $0.11.
Adjusted earnings per share of $1.61, which excludes $0.04 of noncash interest expense related to our 2023 convertible notes compared to adjusted earnings per share of $0.80 in the prior-year quarter.
Net income of $55.6 million compared to $29.1 million in the fourth quarter of 2019.
Adjusted EBITDA of $82.3 million or 13.1% of revenues compared to $58.3 million or 9.7% of revenues in the prior-year quarter.
These increases were only partially offset by higher compensation related to a 14.5% increase in billable headcount.
In Corporate Finance & Restructuring, revenues of $219.8 million increased 21.4% compared to Q4 of 2019.
Acquisition-related revenues contributed $19 million in the quarter.
This increase was partially offset by a $7.6 million decline in pass-through revenues due to a decline in billable travel and entertainment expenses.
Adjusted segment EBITDA of $35.4 million or 16.1% of segment revenues compared to $24.8 million or 13.7% of segment revenues in the prior-year quarter.
This increase was due to higher revenues, which was partially offset by an increase in compensation, primarily related to 38.6% growth in billable headcount and higher variable compensation.
Of note, the net year-over-year increase of 461 billable professionals includes continued organic hiring, 147 professionals from the acquisition of Delta Partners and the transfer of 66 professionals from our FLC segment into Corporate Finance, which occurred in the second quarter of 2020.
On a sequential basis, Corporate Finance & Restructuring revenues decreased 7.1% due to the decline in restructuring activity.
Revenues of $127.2 million decreased 15.4% compared to the prior-year quarter.
Adjusted segment EBITDA of $7.6 million or 6% of segment revenues compared to $17.4 million or 11.6% of segment revenues in the prior-year quarter.
Sequentially, FLC revenues increased 6.8% due to higher revenues in North America particularly driven by higher demand for our dispute services.
Economic Consulting's record revenues of $160.5 million increased 4.9% compared to Q4 of 2019.
Adjusted segment EBITDA of $31.3 million or 19.5% of segment revenues was a record and compared to $17.3 million or 11.3% of segment revenues in the prior-year quarter.
Sequentially, revenues in Economic Consulting increased 3.5% as we continue to see higher demand for our non M&A-related antitrust services.
In Technology, revenues of $58.6 million increased 13.8% compared to Q4 of 2019.
Adjusted segment EBITDA of $10.2 million or 17.3% of segment revenues compared to $7.8 million or 15.1% of segment revenues in the prior-year quarter.
Lastly, in strategic communications, revenues of $60.5 million decreased 8.8% compared to Q4 of 2019.
The decrease in revenues was primarily due to a $4.8 million decline in pass-through revenues.
Adjusted segment EBITDA of $11.7 million or 19.4% of segment revenues compared to $9.9 million or 14.9% of segment revenues in the prior-year quarter.
Sequentially, revenues in Strategic Communications increased 14.2%, primarily due to higher demand for corporate reputation and public affairs services in the EMEA region.
Net cash provided by operating activities; of $327.1 million compared to $217.9 million in the prior year.
Free cash flow of $292.2 million in 2020 compared to $175.8 million in 2019.
In 2020, we repurchased 3.3 million of our shares for a total cost of $353.4 million.
In Q4 alone, we repurchased 1.6 million shares at an average price per share of $105.84 for a total cost of $169.2 million.
Despite using $353.4 million for share repurchases, a 14.5% increase in billable headcount and the acquisition of Delta Partners, we ended the year with our total debt, net of cash, up only $74.4 million compared to December 31, 2019.
We estimate that revenues for 2021 will be between $2.575 billion and $2.7 billion.
We expect our GAAP earnings per share which includes estimated noncash interest expense related to our 2023 convertible notes of approximately $0.20 per share to range between $5.60 and $6.30.
We expect full-year 2021 adjusted EPS, which excludes the impact of the noncash interest expense, to range between $5.80 and $6.50.
We currently expect our full-year 2021 tax rate to range between 23% and 26%, which compares to 19.7% in 2020.
Our CAGR for revenues in EMEA since 2017 is a 23.9%.

Summary:
For the quarter, revenues of $626.6 million increased $24.4 million or 4%.
GAAP earnings per share of $1.57 compared to $0.76 in the prior-year quarter.
Adjusted earnings per share of $1.61, which excludes $0.04 of noncash interest expense related to our 2023 convertible notes compared to adjusted earnings per share of $0.80 in the prior-year quarter.
We expect our GAAP earnings per share which includes estimated noncash interest expense related to our 2023 convertible notes of approximately $0.20 per share to range between $5.60 and $6.30.
We expect full-year 2021 adjusted EPS, which excludes the impact of the noncash interest expense, to range between $5.80 and $6.50.