in an effort to maintain our long-term strategy of being the leading provider of talent management solutions , our strategic focus for fiscal 2014 centers upon enhancing the integration of our multi-service strategy . we plan to continue to address areas of increasing client demand including ltc and rpo . we further plan to explore new products and services , continue to pursue a disciplined acquisition strategy , enhance our technology and processes and aggressively leverage our brand through thought leadership and intellectual capital projects as a means of delivering world-class service to our clients . during fiscal 2013 , nearly 88 % of our top 50 clients utilized at least two of our service lines . during fiscal 2013 , we completed the acquisitions of minneapolis-based pdi ninth house ( pdi ) , a leading , globally-recognized provider of leadership assessment and development solutions and global novations , llc , ( global novations ) a leading provider of diversity and inclusion and leadership development solutions ( see note 12  acquisitions for additional information regarding acquisitions completed during fiscal 2013 ) . as a result of the uncertainties and challenges that continue to face the global economy and financial markets , we implemented a restructuring plan in fiscal 2013 in order to align our cost structure with anticipated revenue levels . the company also implemented a restructuring plan focused on the integration synergies associated with the current year acquisitions . in fiscal 2013 , the company recorded restructuring charges of $ 22.8 million of which $ 16.3 million were for severance costs and $ 6.5 million in facility costs due to the consolidation and elimination of office space around the world . as previously announced , beginning in the first quarter of fiscal 2013 , the company disaggregated its previously reported business segment , executive recruitment , into two business segments , executive recruitment and ltc . the company now operates in three global business segments : executive recruitment , ltc and futurestep . see note 11  business segments , in the notes to our consolidated financial statements for discussion of the company 's global business segments . amounts reported for prior periods in this report have been reclassified to conform to the revised global business segments . the company evaluates performance and allocates resources based on the chief operating decision maker 's review of ( 1 ) fee revenue and ( 2 ) earnings before interest , taxes , depreciation and amortization ( ebitda ) , which is further adjusted to exclude restructuring charges , transaction and integration costs , and certain separation costs ( adjusted ebitda ) . ebitda and adjusted ebitda are non-gaap financial measures . they have limitations as analytical tools , should not be viewed as substitutes for financial information determined in 26 accordance with gaap , and should not be considered in isolation or as substitutes for analysis of the company 's results as reported under gaap , nor are they necessarily comparable to non-gaap performance measures that may be presented by other companies . management believes the presentation of these non-gaap financial measures provides meaningful supplemental information regarding korn/ferry 's performance by excluding certain charges and other items that may not be indicative of korn/ferry 's ongoing operating results . the use of these non-gaap financial measures facilitate comparisons to korn/ferry 's historical performance . korn/ferry includes these non-gaap financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of korn/ferry 's ongoing operations and financial and operational decision-making . the accounting policies for the reportable segments are the same as those described in the summary of significant accounting policies in the accompanying consolidated financial statements , except that the above noted items are excluded from adjusted ebitda . fee revenue increased $ 22.3 million , or 3 % ( 3 % decrease excluding fee revenue from the recently acquired pdi and global novations ) in fiscal 2013 to $ 812.8 million compared to $ 790.5 million in fiscal 2012 , with increases in fee revenue in futurestep and ltc , offset by decreases in fee revenue in all regions of executive recruitment . during fiscal 2013 , we recorded operating income of $ 43.9 million with executive recruitment , ltc , and futurestep segments contributing $ 81.0 million , $ 6.4 million , and $ 11.0 million , respectively , offset by corporate expenses of $ 54.5 million . net income for fiscal 2013 and fiscal 2012 was $ 33.3 million and $ 54.3 million , respectively . adjusted ebitda was $ 97.8 million with executive recruitment , ltc , and futurestep segments contributing $ 99.9 million , $ 22.6 million , and $ 15.7 million , respectively , offset by corporate expenses of $ 40.4 million . adjusted ebitda decreased $ 3.5 million in fiscal 2013 , from adjusted ebitda of $ 101.3 million in fiscal 2012. our cash , cash equivalents and marketable securities decreased $ 51.7 million , or 12 % , to $ 366.0 million at april 30 , 2013 compared to $ 417.7 million at april 30 , 2012 , mainly due to bonuses earned in fiscal 2012 and paid during the first quarter of fiscal 2013 and the purchase price paid as a result of the acquisitions of global novations and pdi during fiscal 2013 , partially offset by cash provided by operating activities . as of april 30 , 2013 , we held marketable securities to settle obligations under our executive capital accumulation plan ( ecap ) with a cost value of $ 94.9 million and a fair value of $ 98.0 million . story_separator_special_tag futurestep reported fee revenue of $ 122.2 million , an increase of $ 8.3 million , or 7 % , in fiscal 2013 compared to $ 113.9 million in fiscal 2012. exchange rates unfavorably impacted fee revenue for futurestep by $ 2.5 million in fiscal 2013. the increase in futurestep 's fee revenue was due to a 14 % increase in the number of engagements billed , offset by a 6 % decrease in the weighted-average fees billed per engagement in fiscal 2013 compared to fiscal 2012. the increase in fee revenue was also positively impacted by an increase in level of activity for existing clients in fiscal 2013 as compared to fiscal 2012. improvement in futurestep fee revenue is primarily driven by increases in recruitment process outsourcing and to a lesser extent recruitment for non-executive professionals . compensation and benefits compensation and benefits expense increased $ 21.1 million , or 4 % , to $ 555.3 million in fiscal 2013 from $ 534.2 million in fiscal 2012. the increase in compensation and benefits expense was due to the current year acquisitions , which contributed $ 30.9 million in compensation and benefits expense . excluding the current year 33 acquisitions , compensation and benefits expense decreased by $ 9.8 million , or 2 % compared to fiscal 2012. the decrease in compensation and benefits was mainly due to a $ 9.5 million , or 3 % decrease in salaries and related taxes ( excluding current year acquisitions ) . salaries and related payroll taxes declined due to a decrease in the average executive recruitment headcount during fiscal 2013 compared to fiscal 2012. also contributing to the decline in compensation and benefits expense was a $ 1.7 million decrease in performance related bonus expense to $ 113.9 million from $ 115.6 million as result of a decline in the company 's overall level of profitability as defined by pre-tax income before bonus and restructuring expense in fiscal 2013 compared to fiscal 2012. offsetting the decline in compensation and benefits expense was an increase in the fair value of amounts owed under certain compensation plans of $ 5.2 million , partially offset by $ 1.9 million decrease in amortized prepaid compensation and a $ 1.8 million decrease in stock based compensation due to a smaller amount of awards granted in fiscal 2013 compared to prior years . exchange rates favorably impacted compensation and benefits expenses by $ 10.2 million during fiscal 2013. the changes in the fair value of vested amounts owed under certain deferred compensation plans resulted in an increase to compensation and benefits expense of $ 5.6 million and $ 0.4 million in fiscal 2013 and 2012 , respectively . offsetting these changes in compensation and benefits expense was an increase in the fair value of marketable securities classified as trading ( held in trust to satisfy obligations under certain deferred compensation liabilities ) , of $ 7.6 million and $ 1.1 million in fiscal 2013 and 2012 , respectively , recorded in other income ( loss ) , net on the consolidated statement of income . executive recruitment compensation and benefits expense decreased $ 11.6 million , or 3 % , to $ 354.1 million in fiscal 2013 compared to $ 365.7 million in fiscal 2012 , primarily due to a $ 8.4 million or 4 % decrease in salaries and related payroll taxes , a decrease of $ 1.4 million in stock based compensation and a $ 1.3 million decline from the reduction in the use of outside contractors due to ongoing cost control initiatives , partially offset by an increase in the fair value of vested amounts owed under certain deferred compensation plans that resulted in an increase in compensation expense of $ 4.9 million in fiscal 2013 compared to fiscal 2012. salaries and related payroll taxes declined due to the decrease in average executive recruitment headcount while the decrease in stock based compensation was due to the smaller amount of awards being granted in fiscal 2013 compared to prior years . in addition , performance related bonus expense decreased by $ 2.5 million driven by the decrease in executive recruitment overall level of profitability . exchange rates favorably impacted compensation and benefits expense by $ 7.2 million during fiscal 2013. executive recruitment compensation and benefits expense increased as a percentage of fee revenue to 68 % in fiscal 2013 from 65 % in fiscal 2012. ltc compensation and benefits expense increased $ 32.7 million , or 52 % , to $ 95.8 million in fiscal 2013 from $ 63.1 million in fiscal 2012. the increase was primarily due to the current year acquisitions , which contributed $ 30.9 million of compensation and benefits expense , an increase of $ 1.4 million in salaries and related payroll taxes and an increase in performance related bonus expense of $ 1.3 million . the increase in the performance related bonus expense was driven by the 6 % increase in fee revenue ( excluding fee revenue from current year acquisitions ) , which contributed to the overall level of profitability as defined by pre-tax income before bonus and restructuring expense while the increase in salaries and related payroll taxes is due to a 5 % increase in average headcount ( excluding current year acquisitions ) in fiscal 2013 compared to fiscal 2012. ltc compensation and benefits expense as a percentage of fee revenue increased to 57 % in fiscal 2013 from 55 % in fiscal 2012. exchange rates favorably impacted compensation and benefits expense by $ 1.4 million during fiscal 2013. futurestep compensation and benefits expense increased $ 0.1 million to $ 82.8 million in fiscal 2013 from $ 82.7 million in fiscal 2012. the increase was primarily due to an increase in performance related bonus expense of $ 1.2 million which was driven by the 7 % increase in fee revenue offset by savings in salaries and related payroll taxes due to fewer senior  level employees and more

liquidity and capital resources our performance is subject to the general level of economic activity in the geographic regions and the industries which we service . while we believe , based on current economic conditions , that our cash on hand and funds from operations will be sufficient to meet anticipated working capital , capital expenditures and general corporate requirements during the next twelve months , if the national or global economy , credit market conditions , and or labor markets were to deteriorate in the future , it is likely that such changes would put negative pressure on demand for our services and affect our operating cash flows . in light of the current economic uncertainty , the company implemented a restructuring plan in the second quarter of fiscal 2013 in order to align our cost structure with anticipated revenue levels . in addition , in the third and fourth quarters of fiscal 2013 , we implemented another restructuring plan focused on the integration synergies associated with the current year acquisitions . if the uncertain economic environment negatively impacts the demand for our services for a prolonged period of time , we may incur negative cash flows , and if such conditions persist over an extended period of time , it might require us to access our existing credit facility to meet our capital needs . cash and cash equivalents and marketable securities were $ 366.0 million and $ 417.7 million as of april 30 , 2013 and 2012 , respectively . as of april 30 , 2013 and 2012 , we held $ 146.8 million and $ 130.3 million , respectively of cash and cash equivalents in foreign locations , substantially all of which is readily convertible 43 into other foreign currencies . if these amounts were distributed to the united states , in the form of dividends , we would be subject to additional u.s. income taxes .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our performance is subject to the general level of economic activity in the geographic regions and the industries which we service . while we believe , based on current economic conditions , that our cash on hand and funds from operations will be sufficient to meet anticipated working capital , capital expenditures and general corporate requirements during the next twelve months , if the national or global economy , credit market conditions , and or labor markets were to deteriorate in the future , it is likely that such changes would put negative pressure on demand for our services and affect our operating cash flows . in light of the current economic uncertainty , the company implemented a restructuring plan in the second quarter of fiscal 2013 in order to align our cost structure with anticipated revenue levels . in addition , in the third and fourth quarters of fiscal 2013 , we implemented another restructuring plan focused on the integration synergies associated with the current year acquisitions . if the uncertain economic environment negatively impacts the demand for our services for a prolonged period of time , we may incur negative cash flows , and if such conditions persist over an extended period of time , it might require us to access our existing credit facility to meet our capital needs . cash and cash equivalents and marketable securities were $ 366.0 million and $ 417.7 million as of april 30 , 2013 and 2012 , respectively . as of april 30 , 2013 and 2012 , we held $ 146.8 million and $ 130.3 million , respectively of cash and cash equivalents in foreign locations , substantially all of which is readily convertible 43 into other foreign currencies . if these amounts were distributed to the united states , in the form of dividends , we would be subject to additional u.s. income taxes .
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 Suspicious Activity Report : in an effort to maintain our long-term strategy of being the leading provider of talent management solutions , our strategic focus for fiscal 2014 centers upon enhancing the integration of our multi-service strategy . we plan to continue to address areas of increasing client demand including ltc and rpo . we further plan to explore new products and services , continue to pursue a disciplined acquisition strategy , enhance our technology and processes and aggressively leverage our brand through thought leadership and intellectual capital projects as a means of delivering world-class service to our clients . during fiscal 2013 , nearly 88 % of our top 50 clients utilized at least two of our service lines . during fiscal 2013 , we completed the acquisitions of minneapolis-based pdi ninth house ( pdi ) , a leading , globally-recognized provider of leadership assessment and development solutions and global novations , llc , ( global novations ) a leading provider of diversity and inclusion and leadership development solutions ( see note 12  acquisitions for additional information regarding acquisitions completed during fiscal 2013 ) . as a result of the uncertainties and challenges that continue to face the global economy and financial markets , we implemented a restructuring plan in fiscal 2013 in order to align our cost structure with anticipated revenue levels . the company also implemented a restructuring plan focused on the integration synergies associated with the current year acquisitions . in fiscal 2013 , the company recorded restructuring charges of $ 22.8 million of which $ 16.3 million were for severance costs and $ 6.5 million in facility costs due to the consolidation and elimination of office space around the world . as previously announced , beginning in the first quarter of fiscal 2013 , the company disaggregated its previously reported business segment , executive recruitment , into two business segments , executive recruitment and ltc . the company now operates in three global business segments : executive recruitment , ltc and futurestep . see note 11  business segments , in the notes to our consolidated financial statements for discussion of the company 's global business segments . amounts reported for prior periods in this report have been reclassified to conform to the revised global business segments . the company evaluates performance and allocates resources based on the chief operating decision maker 's review of ( 1 ) fee revenue and ( 2 ) earnings before interest , taxes , depreciation and amortization ( ebitda ) , which is further adjusted to exclude restructuring charges , transaction and integration costs , and certain separation costs ( adjusted ebitda ) . ebitda and adjusted ebitda are non-gaap financial measures . they have limitations as analytical tools , should not be viewed as substitutes for financial information determined in 26 accordance with gaap , and should not be considered in isolation or as substitutes for analysis of the company 's results as reported under gaap , nor are they necessarily comparable to non-gaap performance measures that may be presented by other companies . management believes the presentation of these non-gaap financial measures provides meaningful supplemental information regarding korn/ferry 's performance by excluding certain charges and other items that may not be indicative of korn/ferry 's ongoing operating results . the use of these non-gaap financial measures facilitate comparisons to korn/ferry 's historical performance . korn/ferry includes these non-gaap financial measures because management believes they are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its evaluation of korn/ferry 's ongoing operations and financial and operational decision-making . the accounting policies for the reportable segments are the same as those described in the summary of significant accounting policies in the accompanying consolidated financial statements , except that the above noted items are excluded from adjusted ebitda . fee revenue increased $ 22.3 million , or 3 % ( 3 % decrease excluding fee revenue from the recently acquired pdi and global novations ) in fiscal 2013 to $ 812.8 million compared to $ 790.5 million in fiscal 2012 , with increases in fee revenue in futurestep and ltc , offset by decreases in fee revenue in all regions of executive recruitment . during fiscal 2013 , we recorded operating income of $ 43.9 million with executive recruitment , ltc , and futurestep segments contributing $ 81.0 million , $ 6.4 million , and $ 11.0 million , respectively , offset by corporate expenses of $ 54.5 million . net income for fiscal 2013 and fiscal 2012 was $ 33.3 million and $ 54.3 million , respectively . adjusted ebitda was $ 97.8 million with executive recruitment , ltc , and futurestep segments contributing $ 99.9 million , $ 22.6 million , and $ 15.7 million , respectively , offset by corporate expenses of $ 40.4 million . adjusted ebitda decreased $ 3.5 million in fiscal 2013 , from adjusted ebitda of $ 101.3 million in fiscal 2012. our cash , cash equivalents and marketable securities decreased $ 51.7 million , or 12 % , to $ 366.0 million at april 30 , 2013 compared to $ 417.7 million at april 30 , 2012 , mainly due to bonuses earned in fiscal 2012 and paid during the first quarter of fiscal 2013 and the purchase price paid as a result of the acquisitions of global novations and pdi during fiscal 2013 , partially offset by cash provided by operating activities . as of april 30 , 2013 , we held marketable securities to settle obligations under our executive capital accumulation plan ( ecap ) with a cost value of $ 94.9 million and a fair value of $ 98.0 million . story_separator_special_tag futurestep reported fee revenue of $ 122.2 million , an increase of $ 8.3 million , or 7 % , in fiscal 2013 compared to $ 113.9 million in fiscal 2012. exchange rates unfavorably impacted fee revenue for futurestep by $ 2.5 million in fiscal 2013. the increase in futurestep 's fee revenue was due to a 14 % increase in the number of engagements billed , offset by a 6 % decrease in the weighted-average fees billed per engagement in fiscal 2013 compared to fiscal 2012. the increase in fee revenue was also positively impacted by an increase in level of activity for existing clients in fiscal 2013 as compared to fiscal 2012. improvement in futurestep fee revenue is primarily driven by increases in recruitment process outsourcing and to a lesser extent recruitment for non-executive professionals . compensation and benefits compensation and benefits expense increased $ 21.1 million , or 4 % , to $ 555.3 million in fiscal 2013 from $ 534.2 million in fiscal 2012. the increase in compensation and benefits expense was due to the current year acquisitions , which contributed $ 30.9 million in compensation and benefits expense . excluding the current year 33 acquisitions , compensation and benefits expense decreased by $ 9.8 million , or 2 % compared to fiscal 2012. the decrease in compensation and benefits was mainly due to a $ 9.5 million , or 3 % decrease in salaries and related taxes ( excluding current year acquisitions ) . salaries and related payroll taxes declined due to a decrease in the average executive recruitment headcount during fiscal 2013 compared to fiscal 2012. also contributing to the decline in compensation and benefits expense was a $ 1.7 million decrease in performance related bonus expense to $ 113.9 million from $ 115.6 million as result of a decline in the company 's overall level of profitability as defined by pre-tax income before bonus and restructuring expense in fiscal 2013 compared to fiscal 2012. offsetting the decline in compensation and benefits expense was an increase in the fair value of amounts owed under certain compensation plans of $ 5.2 million , partially offset by $ 1.9 million decrease in amortized prepaid compensation and a $ 1.8 million decrease in stock based compensation due to a smaller amount of awards granted in fiscal 2013 compared to prior years . exchange rates favorably impacted compensation and benefits expenses by $ 10.2 million during fiscal 2013. the changes in the fair value of vested amounts owed under certain deferred compensation plans resulted in an increase to compensation and benefits expense of $ 5.6 million and $ 0.4 million in fiscal 2013 and 2012 , respectively . offsetting these changes in compensation and benefits expense was an increase in the fair value of marketable securities classified as trading ( held in trust to satisfy obligations under certain deferred compensation liabilities ) , of $ 7.6 million and $ 1.1 million in fiscal 2013 and 2012 , respectively , recorded in other income ( loss ) , net on the consolidated statement of income . executive recruitment compensation and benefits expense decreased $ 11.6 million , or 3 % , to $ 354.1 million in fiscal 2013 compared to $ 365.7 million in fiscal 2012 , primarily due to a $ 8.4 million or 4 % decrease in salaries and related payroll taxes , a decrease of $ 1.4 million in stock based compensation and a $ 1.3 million decline from the reduction in the use of outside contractors due to ongoing cost control initiatives , partially offset by an increase in the fair value of vested amounts owed under certain deferred compensation plans that resulted in an increase in compensation expense of $ 4.9 million in fiscal 2013 compared to fiscal 2012. salaries and related payroll taxes declined due to the decrease in average executive recruitment headcount while the decrease in stock based compensation was due to the smaller amount of awards being granted in fiscal 2013 compared to prior years . in addition , performance related bonus expense decreased by $ 2.5 million driven by the decrease in executive recruitment overall level of profitability . exchange rates favorably impacted compensation and benefits expense by $ 7.2 million during fiscal 2013. executive recruitment compensation and benefits expense increased as a percentage of fee revenue to 68 % in fiscal 2013 from 65 % in fiscal 2012. ltc compensation and benefits expense increased $ 32.7 million , or 52 % , to $ 95.8 million in fiscal 2013 from $ 63.1 million in fiscal 2012. the increase was primarily due to the current year acquisitions , which contributed $ 30.9 million of compensation and benefits expense , an increase of $ 1.4 million in salaries and related payroll taxes and an increase in performance related bonus expense of $ 1.3 million . the increase in the performance related bonus expense was driven by the 6 % increase in fee revenue ( excluding fee revenue from current year acquisitions ) , which contributed to the overall level of profitability as defined by pre-tax income before bonus and restructuring expense while the increase in salaries and related payroll taxes is due to a 5 % increase in average headcount ( excluding current year acquisitions ) in fiscal 2013 compared to fiscal 2012. ltc compensation and benefits expense as a percentage of fee revenue increased to 57 % in fiscal 2013 from 55 % in fiscal 2012. exchange rates favorably impacted compensation and benefits expense by $ 1.4 million during fiscal 2013. futurestep compensation and benefits expense increased $ 0.1 million to $ 82.8 million in fiscal 2013 from $ 82.7 million in fiscal 2012. the increase was primarily due to an increase in performance related bonus expense of $ 1.2 million which was driven by the 7 % increase in fee revenue offset by savings in salaries and related payroll taxes due to fewer senior  level employees and more

