Huron Consulting(US:HURN)2022-02-23 16:00Client Engagement and Service - The company served over 1,900 clients in 2021, with the top 10 clients accounting for approximately 19% of consolidated revenues[21] - The company emphasizes high-quality client service as critical to building and maintaining relationships and brand reputation[37] - The company has established partnerships with major technology organizations, including Oracle and Salesforce, to enhance service delivery[20] Employee Engagement and Diversity - As of December 31, 2021, the company had 4,609 full-time client service and support professionals, including 168 client-serving managing directors[25] - The company maintained a quarterly employee engagement score consistently in the high 70s throughout 2021, compared to the global benchmark of 74[24] - The company is committed to diversity and inclusion, having developed a five-year action plan to enhance representation and accountability[34] - The company’s total rewards program has been recognized as a Best Firm to Work For by Consulting magazine for eleven consecutive years[24] Financial Performance and Compensation - The company’s incentive compensation plan is designed to reward performance at both organizational and individual levels, with a focus on financial goals[30] - The company faces competition from a variety of service and technology providers, with a focus on delivering measurable and sustainable results[39] Debt and Interest Rate Management - As of December 31, 2021, the company had borrowings under its credit facility totaling $230.0 million with a weighted average interest rate of 2.7%[309] - A hypothetical 100 basis point change in interest rates as of December 31, 2021 would have a $0.3 million effect on pretax income on an annualized basis[309] - The company entered into multiple forward interest rate swap agreements to hedge against interest rate risks, with notional amounts of $50.0 million and $100.0 million, and fixed rates ranging from 0.885% to 1.900%[311][313] - The outstanding principal amount of the promissory note related to an aircraft purchase was $2.8 million at December 31, 2021, with an interest rate of 2.1%[314] - The fair value of the company's convertible debt investment in Shorelight Holdings, LLC was $65.9 million as of December 31, 2021, up from $64.4 million in 2020[317] - The company has a preferred stock investment in Medically Home Group, Inc. valued at $6.7 million as of December 31, 2021, with a total cost basis of $5.0 million[318] - The company’s variable-rate borrowings were fully hedged against interest rate changes as of December 31, 2020, with a notional amount of $200.0 million in interest rate swaps[309] - The transition away from LIBOR is planned to be based on prevailing or equivalent standards as per the company's amended credit agreement and interest rate swap agreements[315] - The company does not use derivative instruments for trading or speculative purposes, and has minimal market risk exposure due to short-term investments[316] - The company completed the sale of its aircraft in Q1 2022, using proceeds to pay off the promissory note[314] Corporate Social Responsibility - The company published its second Corporate Social Responsibility report in 2021, aligning with the United Nations Sustainable Development Goals[35]