Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair values of the tangible and identifiable intangible net assets acquired. Evaluations of the recoverability of goodwill are performed in accordance with FASB ASC Topic 350, which requires an annual assessment of potential goodwill impairment at the reporting unit level and whenever events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable.

When performing our annual assessment of the recoverability of goodwill, we initially perform a qualitative analysis evaluating whether any events or circumstances occurred or exist that provide evidence that it is more likely than not that the fair value of any of our reporting units is less than the related carrying amount. If we do not believe that it is more likely than not that the fair value of any of our reporting units is less than the related carrying amount, then no quantitative impairment test is performed. However, if the results of our qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its respective carrying amount, then we perform a quantitative impairment test. Evaluating the recoverability of

goodwill requires judgments and assumptions regarding future trends and events. As a result, both the precision and reliability of our estimates are subject to uncertainty.

Our most recent annual impairment test of goodwill was a qualitative analysis conducted during the quarter ended September 30, 2020 that indicated no impairment. Subsequent to completing our 2020 annual impairment test, there were no events or changes in circumstances noted that required an interim impairment test.

The table below presents changes to the carrying amount of goodwill by segment during the nine months ended September 30, 2020 (in thousands).


	Research		Conferences		Consulting		Total
Balance at December 31, 2019 (1)	$	2,651,060	$	189,641	$	97,025	$	2,937,726
Foreign currency translation impact	1,187		29		(234)		982
Balance at September 30, 2020	$	2,652,247	$	189,670	$	96,791	$	2,938,708

(1)The Company does not have any accumulated goodwill impairment losses.

Finite-Lived Intangible Assets

The tables below present reconciliations of the carrying amounts of the Company’s finite-lived intangible assets as of the dates indicated (in thousands).


September 30, 2020	Customer Relationships		Software		Content		Other		Total
Gross cost at December 31, 2019	$	1,145,109	$	111,033	$	14,140	$	30,838	$	1,301,120
Intangible assets fully amortized	(1,650)		(787)		(9,929)		(772)		(13,138)
Foreign currency translation impact	(11,339)		(375)		(246)		(72)		(12,032)
Gross cost	1,132,120		109,871		3,965		29,994		1,275,950
Accumulated amortization (1)	(351,738)		(77,239)		(3,177)		(22,802)		(454,956)
Balance at September 30, 2020	$	780,382	$	32,632	$	788	$	7,192	$	820,994


December 31, 2019	Customer Relationships		Software		Content		Other		Total
Gross cost	$	1,145,109	$	111,033	$	14,140	$	30,838	$	1,301,120
Accumulated amortization (1)	(283,369)		(61,564)		(11,225)		(19,875)		(376,033)
Balance at December 31, 2019	$	861,740	$	49,469	$	2,915	$	10,963	$	925,087

(1) Finite-lived intangible assets are amortized using the straight-line method over the following periods: Customer relationships—3 to 13 years; Software—2 to 7 years; Content—2 to 3 years; and Other—2 to 11 years.

Amortization expense related to finite-lived intangible assets was $31.2 million and $31.7 million during the three months ended September 30, 2020 and 2019, respectively, and $94.6 million and $97.5 million during the nine months ended September 30, 2020 and 2019, respectively. The estimated future amortization expense by year for finite-lived intangible assets is presented in the table below (in thousands).


2020 (remaining three months)	$	30,226
2021	104,109
2022	94,288
2023	94,272
2024	88,975
Thereafter	409,124
	$	820,994