Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company manages its business through three reportable segments: Research, Consulting and Events. Research consists primarily of subscription-based research products, access to research inquiry, peer networking services, and membership programs. Consulting consists primarily of consulting, measurement engagements, and strategic advisory services. Events consists of various symposia, conferences, and exhibitions.

The Company evaluates segment performance and allocates resources based on gross contribution margin. Gross contribution, as presented in the table below, is defined as operating income excluding certain Cost of services and product development expenses, Selling, general and administrative expense, depreciation, amortization of intangibles, and acquisition and integration charges. Certain bonus and fringe benefit costs included in consolidated Cost of services and product development are not allocated to segment expense. The accounting policies used by the reportable segments are the same as those used by the Company. There are no intersegment revenues. The Company does not identify or allocate assets, including capital expenditures, by reportable segment. Accordingly, assets are not reported by segment because the information is not available by segment and is not reviewed in the evaluation of segment performance or in making decisions in the allocation of resources.

The following tables present operating information about the Company’s reportable segments for the periods indicated (in thousands):

Three Months Ended June 30, 2015	Research		Consulting		Events		Consolidated
Revenues	$	385,718	$	88,336	$	73,882	$	547,936
Gross contribution	269,846		33,255		39,442		342,543
Corporate and other expenses							(257,323		)
Operating income							$	85,220

Three Months Ended June 30, 2014	Research		Consulting		Events		Consolidated
Revenues	$	358,495	$	93,488	$	67,837	$	519,820
Gross contribution	248,263		36,235		34,232		318,730
Corporate and other expenses							(236,969		)
Operating income							$	81,761

Six Months Ended June 30, 2015	Research		Consulting		Events		Consolidated
Revenues	$	766,808	$	165,128	$	87,186	$	1,019,122
Gross contribution	536,911		59,582		41,884		638,377
Corporate and other expenses							(504,475		)
Operating income							$	133,902

Six Months Ended June 30, 2014	Research		Consulting		Events		Consolidated
Revenues	$	706,609	$	177,759	$	82,154	$	966,522
Gross contribution	494,365		66,573		37,195		598,133
Corporate and other expenses							(457,202		)
Operating income							$	140,931

The following table provides a reconciliation of total segment gross contribution to net income for the periods indicated (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Total segment gross contribution	$	342,543	$	318,730	$	638,377	$	598,133
Costs and expenses:
Cost of services and product development - unallocated (1)	5,102		2,088		7,512		5,610
Selling, general and administrative	237,991		218,537		467,513		423,154
Depreciation and amortization	10,547		9,700		20,675		18,438
Acquisition and integration charges	3,683		6,644		8,775		10,000
Operating income	85,220		81,761		133,902		140,931
Interest expense and other	5,708		2,505		10,150		4,984
Provision for income taxes	28,357		26,216		44,246		45,171
Net income	$	51,155	$	53,040	$	79,506	$	90,776

(1) The unallocated amounts consist of certain bonus and related fringe costs recorded in Consolidated cost of services and product development expense that are not allocated to segment expense. The Company's policy is to only allocate bonus and related fringe charges to segments for up to 100% of the segment employee's target bonus. Amounts above 100% are absorbed by corporate.