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Product and Geographic Sales Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Product and Geographic Sales Information Segment Information
The Chief Executive Officer is the Company’s Chief Operating Decision Maker (“CODM”). The CODM evaluates segment performance based primarily on revenue and segment Adjusted EBITDA, as described below. The CODM does not review assets by operating segment for the purposes of assessing performance or allocated resources.
Each of the Company’s reportable segments, Science Group and Intellectual Property Group, recognizes revenue in accordance with the revenue recognition policy within Note 3 - Summary of Significant Accounting Policies and our ten largest customers represented only 9%, 6%, and 5% of revenues for the years ended December 31, 2021, 2020 and 2019, respectively. Below is the overview of the product lines within each reportable segment.

Science: The Science segment consists of our Academic and Government Product Line, which includes ProQuest, and our Life Sciences Product Line. Both Product Lines provide curated, high-value, structured information and consulting services that is delivered and embedded into the workflows of our customers, which include research-intensive corporations, life science organizations and universities world-wide.

Intellectual Property: The Intellectual Property segment consists of our Patent, Trademark, Domain, and IP Management Product Lines. These Product Lines help manage customer’s end-to-end portfolio of intellectual property from patents to trademarks to corporate website domains.

Each of the two operating segments represent the segments for which discrete financial information is available and upon which operating results are regularly evaluated by the CODM in order to assess performance and allocate resources. The CODM evaluates performance based primarily on revenue and segment Adjusted EBITDA. Adjusted EBITDA represents net (loss) income before provision for income taxes, depreciation and amortization, interest income and expense adjusted to exclude acquisition or disposal-related transaction costs (such costs include net income from continuing operations before provision for income taxes, depreciation and amortization and interest income and expense from divestitures), losses on extinguishment of debt, stock-based compensation, unrealized foreign currency gains/(losses), costs associated with the transition services agreement with Thomson Reuters, separation and integration costs, transformational and restructuring expenses, acquisition-related adjustments to deferred revenues, costs related to our merger with Churchill Capital Corp in 2019, non-cash income/(loss) on equity and cost method investments, non-operating income or expense, the impact of certain non-cash, legal settlements and other items that are included in net income for the period that the Company does not consider indicative of its ongoing operating performance and certain unusual items impacting results in a particular period.

The following table summarizes revenue by reportable segment for the periods indicated:
Year Ended December 31,
202120202019
Science Segment$902,624 $736,765 $547,542 
Intellectual Property Segment
974,270 517,282 426,803 
Total Revenues$1,876,894 $1,254,047 $974,345 

Adjusted EBITDA by segment

The following table presents segment profitability and a reconciliation to net income for the periods indicated:
Year Ended December 31,
202120202019
Science Segment Adjusted EBITDA$417,066 $344,000 $240,602 
Intellectual Property Segment Adjusted EBITDA383,338 142,600 53,463
Total Adjusted EBITDA$800,404 $486,600 $294,065 
Benefit (provision) for income taxes(12,298)2,698 (10,201)
Depreciation and amortization(537,815)(303,150)(200,542)
Interest, net(252,490)(111,914)(157,689)
Mark to market adjustment on financial instruments (1)
81,320 (205,062)(47,656)
Deferred revenues adjustment (2)
(3,951)(23,101)(438)
Transaction related costs (3)
(46,216)(99,286)(46,214)
Share-based compensation expense(139,571)(70,472)(51,383)
Gain on sale of assets — 28,140 — 
Restructuring and impairment (4)
(129,459)(56,138)(15,670)
Legal settlement— — 39,399 
Impairment on assets held for sale— — (18,431)
Other (5)
(30,372)1,060 (43,873)
Net loss$(270,448)$(350,625)$(258,633)
Dividends on preferred shares(41,508)— — 
Net loss attributable to ordinary shares$(311,956)$(350,625)$(258,633)
(1)Reflects mark to market adjustments on financial instruments under Accounting Standards Codification 815, Derivatives and Hedging, ("ASC 815"). Warrant instruments that do not meet the criteria to be considered indexed to an entity's own stock shall be initially classified as a liability at their estimated fair values, regardless of the likelihood that such instruments will ever be settled in cash. In periods subsequent to issuance, changes in the estimated fair value of the liabilities are reported through earnings.
(2)Reflects the deferred revenues adjustment made as a result of purchase accounting prior to the adoption of FASB ASU No. 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers". In the fourth quarter of 2021, Clarivate adopted ASU No. 2021-08 which allows an acquirer to account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. This guidance was applied retrospectively to all business combinations for which the acquisition date occurs during or subsequent to the fiscal year 2021.
(3)Includes costs incurred to complete business combination transactions, including acquisitions, dispositions and capital market activities and include advisory, legal, and other professional and consulting costs. This also includes the mark to market adjustments on the contingent stock consideration associated with the CPA Global and DRG acquisitions.
(4)Reflects costs related to restructuring and impairment associated with the acquisition of primarily DRG and CPA Global in 2020. This also includes costs incurred in connection with the initiative, following our merger with Churchill Capital Corp in 2019, to streamline our operations by simplifying our organization and focusing on two segments. During 2021, the CPA Global plan continued as well as the addition of the One Clarivate and ProQuest Programs, which were approved restructuring actions to streamline operations within targeted areas of the Company. Additionally, during the year ended December 31, 2021, 2020 and 2019, we incurred impairment charges taken on right-of-use assets of $57,305, $4,771 and $0 respectively, relating to the exit and ceased use of leased properties.
(5)Includes primarily the net impact of foreign exchange gains and losses related to the re-measurement of balances and other items that do not reflect our ongoing operating performance. The 2020 detail also includes costs related to a transition services agreement and offset by the reverse transition services agreement from the sale of MarkMonitor. In 2019, this includes payments to Thomson Reuters under the Transition Services Agreement. For both 2020 and 2019, this also includes costs incurred in connection with and after our separation from Thomson Reuters in 2016 relating to the implementation of our standalone company infrastructure and related cost-savings initiatives. These costs include mainly transition consulting, technology infrastructure, personnel and severance expenses relating to our standalone company infrastructure, which are recorded in selling, general and administrative costs in our income statement, as well as expenses related to the restructuring and transformation of our business following our separation from Thomson Reuters in 2016 mainly related to the integration of separate business units into one functional organization and enhancements in our technology. These costs were largely wound down by the end of 2020.
Consolidated Revenue and Long-Lived Assets Information by Geographic Area

Revenues recognized in the U.S. represented 46%, 45%, and 43% of revenues for the years ended December 31, 2021, 2020 and 2019, respectively and no other country accounted for more than 10% of revenues.

Revenue by Geography
The following table summarizes revenue from external customers by geography, which is based on the location of the customer:
Year ended December 31,
Revenue:202120202019
Americas$928,690 $631,222 $463,041 
Europe/Middle East/Africa555,804 365,599 278,738 
APAC396,351 280,327 233,004 
Deferred revenues adjustment(3,951)(23,101)(438)
Total$1,876,894 $1,254,047 $974,345 

Assets by Geography
Assets are allocated based on operations and physical location. The following table summarizes non-current assets other than financial instruments, operating lease ROU assets and deferred tax assets by geography:
Year ended December 31,
Assets:20212020
Americas$8,944,134 $3,238,734 
Europe/Middle East/Africa10,555,892 10,859,341 
APAC682,953 692,623 
Total Assets$20,182,979 $14,790,698