KORN FERRY Goodwill & Intangibles Disclosure
| Consulting | Digital | Executive Search | Professional Search & Interim | RPO | Consolidated | ||||||||||||||||||||||||||||||||||||||||||
| North America | EMEA | Asia Pacific | |||||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance as of May 1, 2024 | $ | 172,994 | $ | 325,387 | $ | 46,154 | $ | 46,246 | $ | 972 | $ | 254,345 | $ | 62,278 | $ | 908,376 | |||||||||||||||||||||||||||||||
Additions (1) | — | — | — | — | — | 36,857 | — | 36,857 | |||||||||||||||||||||||||||||||||||||||
| Exchange rate fluctuations | 202 | 668 | (310) | 388 | — | 2,133 | 518 | 3,599 | |||||||||||||||||||||||||||||||||||||||
Balance as of April 30, 2025 | 173,196 | 326,055 | 45,844 | 46,634 | 972 | 293,335 | 62,796 | 948,832 | |||||||||||||||||||||||||||||||||||||||
| Exchange rate fluctuations | 87 | 182 | 276 | 367 | — | 597 | 295 | 1,804 | |||||||||||||||||||||||||||||||||||||||
Balance as of April 30, 2026 | $ | 173,283 | $ | 326,237 | $ | 46,120 | $ | 47,001 | $ | 972 | $ | 293,932 | $ | 63,091 | $ | 950,636 | |||||||||||||||||||||||||||||||
| April 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| (in thousands) | |||||||||||
Salo LLC ("Salo") | $ | 91,032 | $ | 98,779 | |||||||
Infinity Consulting Solutions ("ICS") | 51,231 | 55,785 | |||||||||
Miller Heiman | 12,023 | 13,437 | |||||||||
PIVOT Leadership | 3,126 | 3,812 | |||||||||
Total tax deductible goodwill from acquisitions | $ | 157,412 | $ | 171,813 | |||||||
| April 30, 2026 | April 30, 2025 | ||||||||||||||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||||||||||||||
| Amortized intangible assets: | Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | |||||||||||||||||||||||||||||
| Customer lists | $ | 197,370 | $ | (158,008) | $ | 39,362 | $ | 197,370 | $ | (139,957) | $ | 57,413 | |||||||||||||||||||||||
| Intellectual property | 69,100 | (64,038) | 5,062 | 69,100 | (58,421) | 10,679 | |||||||||||||||||||||||||||||
| Trademarks | 12,857 | (11,631) | 1,226 | 12,857 | (10,928) | 1,929 | |||||||||||||||||||||||||||||
| Proprietary databases | 4,256 | (4,256) | — | 4,256 | (4,256) | — | |||||||||||||||||||||||||||||
| Non-compete agreements | 910 | (910) | — | 910 | (910) | — | |||||||||||||||||||||||||||||
Total (1) | $ | 284,493 | $ | (238,843) | 45,650 | $ | 284,493 | $ | (214,472) | 70,021 | |||||||||||||||||||||||||
| Exchange rate fluctuations | 208 | 172 | |||||||||||||||||||||||||||||||||
| Total Intangible assets | $ | 45,858 | $ | 70,193 | |||||||||||||||||||||||||||||||
| Year Ending April 30, | Estimated Annual Amortization Expense | |||||||
| (in thousands) | ||||||||
2027 | $ | 18,363 | ||||||
2028 | 11,134 | |||||||
2029 | 10,331 | |||||||
2030 | 5,438 | |||||||
2031 | 474 | |||||||
| Thereafter | 118 | |||||||
| $ | 45,858 | |||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 26, 2026 | Showing above |
| 2025 | Jun 27, 2025 | |
| 2024 | Jun 28, 2024 | |
| 2023 | Jun 28, 2023 | |
| 2022 | Jun 28, 2022 | |
| 2021 | Jun 28, 2021 | |
| 2020 | Jul 15, 2020 | |
| 2019 | Jun 28, 2019 | |
| 2018 | Jun 28, 2018 | |
| 2017 | Jun 28, 2017 | |
| 2016 | Jun 28, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.