FCN » Topics » Unallocated Corporate Expenses

This excerpt taken from the FCN 10-Q filed May 5, 2009.

Unallocated Corporate Expenses

Unallocated corporate expenses increased $0.5 million, or 2.6%, to $19.8 million for the three months ended March 31, 2009 from $19.2 million for the three months ended March 31, 2008. The primary drivers of the increase included higher compensation, benefit and support costs for expanded infrastructure staffing, and increased marketing spending related to the launch of our new branding strategy. These expense increases were offset by increased charges to our operating segments for direct costs of information technology and systems and marketing.

These excerpts taken from the FCN 10-K filed Mar 2, 2009.

Unallocated Corporate Expenses

Unallocated corporate expenses increased $4.7 million, or 6.0%, to $82.0 million in 2008 from $77.3 million in 2007. The increase was primarily due to the following:

 

   

Net compensation cost increased $1.7 million primarily due to the hiring of additional corporate employees to support our growing organization;

 

   

Professional services increased $1.4 million primarily due to transaction related expenses, partially offset by lower legal services related to the global tax planning initiative completed in 2007; and

 

   

Rent and occupancy expenses increased $1.2 million primarily due to expansion of our corporate facilities to support our growing organization.

Unallocated Corporate Expenses

Unallocated corporate expenses increased $4.7 million, or 6.0%, to $82.0 million in 2008 from $77.3 million in 2007. The increase was primarily due to the following:

 

   

Net compensation cost increased $1.7 million primarily due to the hiring of additional corporate employees to support our growing organization;

 

   

Professional services increased $1.4 million primarily due to transaction related expenses, partially offset by lower legal services related to the global tax planning initiative completed in 2007; and

 

   

Rent and occupancy expenses increased $1.2 million primarily due to expansion of our corporate facilities to support our growing organization.

Unallocated Corporate Expenses

Unallocated corporate expenses increased $21.2 million, or 37.8%, to $77.3 million in 2007 from $56.1 million in 2006. The increase was primarily due to the following:

 

   

Salaries, bonuses and benefits increased $7.6 million primarily as a result of hiring additional corporate employees to support our growing organization;

 

   

Stock based compensation expense increased $3.9 million as a result of an increase in the amount of stock-based incentives that were awarded in March 2007, the acceleration of certain market-based awards and the increase in participation in our employee stock purchase plan;

 

   

Professional services increased $3.8 million due primarily to the expense associated with legal, tax and other external consulting services related to our global tax planning initiative completed during the year, and our continuing efforts to upgrade our accounting and reporting systems to more efficiently handle the complex reporting needs of an international organization;

 

   

Travel, meals and entertainment expense increased $2.9 million primarily related to the increase in corporate travel; and

 

   

Marketing expense increased $2.0 million related to activities to promote our organization.

 

51


Table of Contents

Unallocated Corporate Expenses

Unallocated corporate expenses increased $21.2 million, or 37.8%, to $77.3 million in 2007 from $56.1 million in 2006. The increase was primarily due to the following:

 

   

Salaries, bonuses and benefits increased $7.6 million primarily as a result of hiring additional corporate employees to support our growing organization;

 

   

Stock based compensation expense increased $3.9 million as a result of an increase in the amount of stock-based incentives that were awarded in March 2007, the acceleration of certain market-based awards and the increase in participation in our employee stock purchase plan;

 

   

Professional services increased $3.8 million due primarily to the expense associated with legal, tax and other external consulting services related to our global tax planning initiative completed during the year, and our continuing efforts to upgrade our accounting and reporting systems to more efficiently handle the complex reporting needs of an international organization;

 

   

Travel, meals and entertainment expense increased $2.9 million primarily related to the increase in corporate travel; and

 

   

Marketing expense increased $2.0 million related to activities to promote our organization.

 

51


Table of Contents

Unallocated Corporate
Expenses

Unallocated corporate expenses increased $4.7 million, or 6.0%, to $82.0 million in 2008 from $77.3 million in 2007. The
increase was primarily due to the following:

 







  

Net compensation cost increased $1.7 million primarily due to the hiring of additional corporate employees to support our growing organization;

 







  

Professional services increased $1.4 million primarily due to transaction related expenses, partially offset by lower legal services related to the global tax
planning initiative completed in 2007; and

 







  

Rent and occupancy expenses increased $1.2 million primarily due to expansion of our corporate facilities to support our growing organization.

Unallocated Corporate
Expenses

Unallocated corporate expenses increased $4.7 million, or 6.0%, to $82.0 million in 2008 from $77.3 million in 2007. The
increase was primarily due to the following:

 







  

Net compensation cost increased $1.7 million primarily due to the hiring of additional corporate employees to support our growing organization;

 







  

Professional services increased $1.4 million primarily due to transaction related expenses, partially offset by lower legal services related to the global tax
planning initiative completed in 2007; and

 







  

Rent and occupancy expenses increased $1.2 million primarily due to expansion of our corporate facilities to support our growing organization.

Unallocated Corporate
Expenses

Unallocated corporate expenses increased $21.2 million, or 37.8%, to $77.3 million in 2007 from $56.1 million in 2006. The
increase was primarily due to the following:

 







  

Salaries, bonuses and benefits increased $7.6 million primarily as a result of hiring additional corporate employees to support our growing organization;

 







  

Stock based compensation expense increased $3.9 million as a result of an increase in the amount of stock-based incentives that were awarded in March 2007, the
acceleration of certain market-based awards and the increase in participation in our employee stock purchase plan;

 







  

Professional services increased $3.8 million due primarily to the expense associated with legal, tax and other external consulting services related to our global
tax planning initiative completed during the year, and our continuing efforts to upgrade our accounting and reporting systems to more efficiently handle the complex reporting needs of an international organization;

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Travel, meals and entertainment expense increased $2.9 million primarily related to the increase in corporate travel; and

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Marketing expense increased $2.0 million related to activities to promote our organization.

STYLE="margin-top:0px;margin-bottom:0px"> 


51







Table of Contents


Unallocated Corporate
Expenses

Unallocated corporate expenses increased $21.2 million, or 37.8%, to $77.3 million in 2007 from $56.1 million in 2006. The
increase was primarily due to the following:

 







  

Salaries, bonuses and benefits increased $7.6 million primarily as a result of hiring additional corporate employees to support our growing organization;

 







  

Stock based compensation expense increased $3.9 million as a result of an increase in the amount of stock-based incentives that were awarded in March 2007, the
acceleration of certain market-based awards and the increase in participation in our employee stock purchase plan;

 







  

Professional services increased $3.8 million due primarily to the expense associated with legal, tax and other external consulting services related to our global
tax planning initiative completed during the year, and our continuing efforts to upgrade our accounting and reporting systems to more efficiently handle the complex reporting needs of an international organization;

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Travel, meals and entertainment expense increased $2.9 million primarily related to the increase in corporate travel; and

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Marketing expense increased $2.0 million related to activities to promote our organization.

STYLE="margin-top:0px;margin-bottom:0px"> 


51







Table of Contents


These excerpts taken from the FCN 10-K filed Feb 29, 2008.

Unallocated Corporate Expenses

Unallocated corporate expenses increased by $18.1 million during 2006 as compared to 2005 primarily due to the following:

 

   

a $7.7 million increase related to the implementation of Financial Accounting Standards Board (FASB) Statement No. 123(R) which requires us to expense the fair value of stock options we grant and the fair value of the discount we offer employees who purchase shares under our employee stock purchase plan;

 

   

a $5.5 million increase in salaries and benefits as a result of a 12.3% increase in the number of corporate employees necessary to support our growing organization; including a $1.0 million increase in restricted stock grant expense in 2006;

 

   

a $2.7 million increase in travel-related expenses; and

 

   

a $2.2 million increase in office rent, facility-related costs and other expenses.

Unallocated Corporate Expenses

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">Unallocated corporate expenses increased by $21.2 million during 2007 as compared to 2006 primarily due to the following:

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Salaries, bonuses and benefits increased $7.6 million primarily as a result of hiring additional corporate employees to support our growing organization.

 







  

Stock based compensation expense increased $3.9 million as a result of an increase in the amount of stock-based incentives that were awarded in March 2007, the
acceleration of certain market-based awards and the increase in participation in our employee stock purchase plan.

 







  

Professional services increased $3.8 million due primarily to the expense associated with legal, tax and other external consulting services related to our global
tax planning initiative completed during the year, and our continuing efforts to upgrade our accounting and reporting systems to more efficiently handle the complex reporting needs of an international organization.

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Travel, meals and entertainment expense increased $2.9 million primarily related to the increase in corporate travel.

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

Marketing expense increased $2.0 million related to activities to promote our organization.

STYLE="margin-top:18px;margin-bottom:0px">Amortization of Other Intangible Assets

SIZE="2">Amortization expense related to other intangible assets decreased by $0.6 million, or 5%, during 2007 as compared to 2006. Intangible assets from business combinations completed in 2006 and 2005 were fully amortized during 2006 or mid-way
through 2007 resulting in a decrease in amortization expense year-over-year. The impact of this decline in amortization expense was partially offset by a full year of amortization expense on intangible assets associated with the acquisition of FD in
October 2006 and amortization related to other acquisitions completed in 2007.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki