Non-GAAP Financial Measures

Disclaimer

The following supplemental financial measures speak only as of the date issued and readers are cautioned that changes in general economic, business or other conditions or in the business condition, financial results or operations of Robert Half International Inc. ("RHI”) may have occurred since such date. RHI undertakes no duty to update the information appearing in the supplemental financial measures. Also, subsequent press releases may have been issued, subsequent public conference calls may have been held or documents containing later or additional information may have been filed with the Securities and Exchange Commission ("SEC") or New York Stock Exchange ("NYSE") or otherwise become available or come into existence. RHI undertakes no duty to make any such press release, conference call or document or additional information available here, and such information, if it exists, may supersede or contradict these supplemental financial measures. Some of the documents RHI files with the SEC and NYSE appear elsewhere in this website. Readers of these presentations may contact RHI for copies of such documents or any other document filed with the SEC and NYSE. Alternatively, copies of such documents are available directly from the SEC and the NYSE.

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The financial results of Robert Half International Inc. (the "Company") are prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the rules of the SEC. . To help readers understand the Company’s financial performance, the Company supplements its GAAP financial results with the following non-GAAP measures: adjusted gross margin; adjusted selling, general and administrative expense; segment income; combined segment income; and as adjusted revenue growth rates.

The following measures: adjusted gross margin; adjusted selling, general and administrative expense; and segment income include gains and losses on investments held to fund the Company’s obligations under employee deferred compensation plans. The Company provides these measures because they are used by management to review its operational results.

Combined segment income is income before income taxes, adjusted for interest income, net and amortization of intangible assets. The Company provides combined segment income because it is how management evaluates segment performance.

Variations in the Company’s financial results include the impact of changes in foreign currency exchange rates and billing days. The Company provides “as adjusted” revenue growth calculations to remove the impact of these items. These calculations show the year-over-year revenue growth rates for the Company’s functional specializations and segments on both a reported basis and also on an as adjusted basis for global, U.S. and international operations. This information is presented for each of the six most recent quarters. The Company has provided this data because it focuses on the Company’s revenue growth rates attributable to operating activities and aids in evaluating revenue trends over time. The Company expresses year-over-year revenue changes as calculated percentages using the same number of billing days and constant currency exchange rates.

In order to calculate constant currency revenue growth rates, as reported amounts are retranslated using foreign currency exchange rates from the prior year’s comparable period. Management then calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all functional specializations and segments. In order to remove the fluctuations caused by comparable periods having different billing days, the Company calculates same billing day revenue growth rates by dividing each comparative period’s reported revenues by the calculated number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based upon the per billing day amounts. The term “as adjusted” means that the impact of different billing days and currency fluctuations are removed from the revenue growth rate calculation.

The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company's industry, as other companies may calculate such financial results differently. The Company's non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to actual revenue growth derived from revenue amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided within the attached filings.

Download the non-GAAP measures, including the reconciliation required by SEC Regulation G, below:

Non-GAAP Financial Measures
File Period Download
Non-GAAP Quarter Ended 03/31/2022 Download
Non-GAAP Quarter Ended 12/31/2021 Download
Non-GAAP Quarter Ended 09/30/2021 Download
Non-GAAP Quarter Ended 06/30/2021 Download
Non-GAAP Quarter Ended 03/31/2021 Download
Non-GAAP Quarter Ended 12/31/2020 Download
Non-GAAP Quarter Ended 09/30/2020 Download
Non-GAAP Quarter Ended 06/30/2020 Download
Non-GAAP Quarter Ended 03/31/2020 Download
Non-GAAP Quarter Ended 12/31/2019 Download