|
KIMLEY‐HORN AND ASSOCIATES, INC.
<br />STATEMENTS OF OPERATIONS
<br />
<br />YEARS ENDED DECEMBER 31, 2017 AND 2016
<br />(SEE INDEPENDENT ACCOUNTANT’S REVIEW REPORT)
<br />
<br />
<br />The accompanying notes to the financial statements are an integral part of these statements. 4
<br />2017 2016
<br />Revenues:
<br />Gross revenues 806,428,121$ 720,768,975$
<br />Less direct client expenses 197,189,800 175,628,809
<br />Net Professional Fees 609,238,321 545,140,166
<br />Operating Expenses:
<br />Employee compensation 410,802,210 374,793,706
<br />Payroll overhead expense 122,394,509 101,903,222
<br />Travel expenses 10,531,703 9,571,819
<br />Professional expenses 17,607,132 15,448,975
<br />Office supplies and expenses 9,518,919 9,262,114
<br />Property costs 26,027,952 22,884,698
<br />Telephone expense 3,369,318 3,241,136
<br />General liability insurance 3,830,069 3,701,326
<br />Depreciation and amortization 7,947,189 7,282,020
<br />Legal, accounting, and other professional services 3,942,775 3,815,498
<br />Software costs 7,065,752 5,667,751
<br />Interest expense 4,114 20,612
<br />Provision for uncollectible accounts 574,394 79,413
<br />Less operating expenses included in direct client expenses (31,299,693) (26,864,047)
<br />Total Operating Expenses 592,316,343 530,808,243
<br />Earnings from operations 16,921,978 14,331,923
<br />Other income, net 1,980,436 2,561,966
<br />Earnings before income taxes 18,902,414 16,893,889
<br />Income tax expense 2,113,762 3,953,870
<br />Net earnings 16,788,652$ 12,940,019$
<br />
|