Business and Basis of Presentation Business and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Below is a table presenting the beginning-of-period and end-of-period cash amounts from the Company's Consolidated Balance Sheets and the total cash amounts presented in the accompanying Condensed Consolidated Cash Flow Statements (in thousands).



	June 30,				December 31,
	2018		2017		2017		2016
Cash and cash equivalents	$	141,805	$	589,282	$	538,908	$	474,233
Restricted cash classified in (1), (2):
Prepaid expenses and other current assets	18,151		25,130		15,148		25,121
Other assets	—		18,155		3,002		—
Cash classified as held-for-sale (3)	—		—		10,000		—
Cash and cash equivalents and restricted cash per the Condensed Consolidated Statements of Cash Flows	$	159,956	$	632,567	$	567,058	$	499,354

(1)

Restricted cash consists of escrow accounts established in connection with certain of the Company's business acquisitions. Generally, such cash is restricted to use due to provisions contained in the underlying asset purchase agreement. The Company will disburse the restricted cash to the sellers of the businesses upon satisfaction of any contingencies described in such agreements (e.g., potential indemnification claims, etc.).


(2)	Restricted cash is recorded in Prepaid expenses and other current assets and Other assets in the Company's consolidated balance sheets with the short-term or long-term classification dependent on the projected timing of disbursements to the sellers.


(3)	Represents cash classified as a held-for-sale asset for the CEB Talent Assessment business that was acquired as part of the CEB acquisition. See Note 2 — Acquisitions and Divestitures for additional information.

Schedule of Restricted Cash



	June 30,				December 31,
	2018		2017		2017		2016
Cash and cash equivalents	$	141,805	$	589,282	$	538,908	$	474,233
Restricted cash classified in (1), (2):
Prepaid expenses and other current assets	18,151		25,130		15,148		25,121
Other assets	—		18,155		3,002		—
Cash classified as held-for-sale (3)	—		—		10,000		—
Cash and cash equivalents and restricted cash per the Condensed Consolidated Statements of Cash Flows	$	159,956	$	632,567	$	567,058	$	499,354

(1)


(2)	Restricted cash is recorded in Prepaid expenses and other current assets and Other assets in the Company's consolidated balance sheets with the short-term or long-term classification dependent on the projected timing of disbursements to the sellers.


(3)	Represents cash classified as a held-for-sale asset for the CEB Talent Assessment business that was acquired as part of the CEB acquisition. See Note 2 — Acquisitions and Divestitures for additional information.

Schedule of Disaggregation of Revenue by Reportable Segment

Our disaggregated revenue information by reportable segment is presented for the periods indicated in the tables below (in thousands).

Three Months Ended June 30, 2018



	Research		Events		Consulting		Other		Total
Primary Geographic Markets: (1)
United States and Canada	$	493,343	$	85,144	$	55,784	$	15,877	$	650,148
Europe, Middle East and Africa	186,399		14,850		33,590		7,434		242,273
Other International	90,572		11,259		7,084		—		108,915
Total revenues	$	770,314	$	111,253	$	96,458	$	23,311	$	1,001,336

Three Months Ended June 30, 2017



	Research		Events		Consulting		Other		Total
Primary Geographic Markets: (1)
United States and Canada	$	392,815	$	68,900	$	54,951	$	23,398	$	540,064
Europe, Middle East and Africa	152,778		12,859		29,667		16,960		212,264
Other International	68,139		9,446		7,075		6,743		91,403
Total revenues	$	613,732	$	91,205	$	91,693	$	47,101	$	843,731

Six Months Ended June 30, 2018



	Research		Events		Consulting		Other		Total
Primary Geographic Markets: (1)
United States and Canada	$	983,056	$	109,213	$	100,913	$	50,471	$	1,243,653
Europe, Middle East and Africa	370,946		31,741		63,528		35,724		501,939
Other International	180,236		16,386		14,913		7,774		219,309
Total revenues	$	1,534,238	$	157,340	$	179,354	$	93,969	$	1,964,901

Six Months Ended June 30, 2017



	Research		Events		Consulting		Other		Total
Primary Geographic Markets: (1)
United States and Canada	$	720,307	$	86,563	$	102,783	$	23,398	$	933,051
Europe, Middle East and Africa	268,580		26,954		53,490		16,960		365,984
Other International	136,151		12,957		14,014		6,743		169,865
Total revenues	$	1,125,038	$	126,474	$	170,287	$	47,101	$	1,468,900


(1)	Revenues are reported based on where the sale is fulfilled.

Schedule of Disaggregation of Revenue

Three Months Ended June 30, 2018



	Research		Events		Consulting		Other		Total
Timing of Revenue Recognition:
Transferred over time (1)	$	708,801	$	—	$	77,073	$	18,921	$	804,795
Transferred at a point in time (2)	61,513		111,253		19,385		4,390		196,541
Total revenues	$	770,314	$	111,253	$	96,458	$	23,311	$	1,001,336

Three Months Ended June 30, 2017



	Research		Events		Consulting		Other		Total
Timing of Revenue Recognition:
Transferred over time (1)	$	570,024	$	—	$	68,383	$	35,476	$	673,883
Transferred at a point in time (2)	43,708		91,205		23,310		11,625		169,848
Total revenues	$	613,732	$	91,205	$	91,693	$	47,101	$	843,731

Six Months Ended June 30, 2018



	Research		Events		Consulting		Other		Total
Timing of Revenue Recognition:
Transferred over time (1)	$	1,409,897	$	—	$	151,083	$	77,867	$	1,638,847
Transferred at a point in time (2)	124,341		157,340		28,271		16,102		326,054
Total revenues	$	1,534,238	$	157,340	$	179,354	$	93,969	$	1,964,901

Six Months Ended June 30, 2017



	Research		Events		Consulting		Other		Total
Timing of Revenue Recognition:
Transferred over time (1)	$	1,036,730	$	—	$	133,377	$	35,476	$	1,205,583
Transferred at a point in time (2)	88,308		126,474		36,910		11,625		263,317
Total revenues	$	1,125,038	$	126,474	$	170,287	$	47,101	$	1,468,900

(1)

These Research revenues were recognized in connection with performance obligations that were satisfied over time using a time-elapsed output method to measure progress. The corresponding Consulting revenues were recognized over time using labor hours as an input measurement basis. Other revenues in this category were recognized using either a time-elapsed output method, performance-based milestone approach or labor hours, depending on the nature of the underlying customer contract.


(2)	The revenues in this category were recognized in connection with performance obligations that were satisfied at the point in time the contractual deliverables were provided to the customer.

Schedule for Contract with Customer, Asset and Liability

The table below provides information regarding certain of the Company’s balance sheet accounts that pertain to its contracts with customers, to exclude held-for-sale businesses (in thousands):



	June 30,		December 31,
	2018		2017
Assets:
Fees receivable, gross (1)	$	1,091,190	$	1,162,871

Contract assets (2)	$	31,911	$	26,672

Contract liabilities:
Deferred revenues (current liability) (3)	$	1,687,724	$	1,630,198
Non-current deferred revenues (3)	17,859		16,205
Total contract liabilities	$	1,705,583	$	1,646,403


(1)	Fees receivable represent the unconditional right of payment from our customers and include both billed and unbilled amounts.

(2)

Contract assets represent recognized revenue for which we do not have an unconditional right to payment as of the balance sheet date because the project may be subject to a progress milestone or some other billing restriction. In the accompanying Condensed Consolidated Balance Sheets, contract assets are recorded in Prepaid expenses and other current assets as of June 30, 2018 and Fees receivable, net as of December 31, 2017.


(3)	Deferred revenues represent amounts (i) for which the Company has received an upfront customer payment or (ii) that pertain to recognized fees receivable. Both situations occur before the completion of our performance obligation(s).