Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of segment reporting information, by segment

The tables below present information about the Company’s reportable segments for the periods indicated (in thousands).


Three Months Ended September 30, 2020	Research		Conferences		Consulting		Consolidated
Revenues	$	892,719	$	12,738	$	89,161	$	994,618
Gross contribution	642,328		2,044		28,161		672,533
Corporate and other expenses							(584,883)
Operating income							$	87,650


Three Months Ended September 30, 2019	Research		Conferences		Consulting		Consolidated
Revenues	$	840,998	$	66,286	$	93,218	$	1,000,502
Gross contribution	582,502		27,465		26,538		636,505
Corporate and other expenses							(567,358)
Operating income							$	69,147


Nine Months Ended September 30, 2020	Research		Conferences		Consulting		Consolidated
Revenues	$	2,677,339	$	26,925	$	282,380	$	2,986,644
Gross contribution	1,928,422		(15,246)		91,086		2,004,262
Corporate and other expenses							(1,692,242)
Operating income							$	312,020


Nine Months Ended September 30, 2019	Research		Conferences		Consulting		Consolidated
Revenues	$	2,492,427	$	259,392	$	290,009	$	3,041,828
Gross contribution	1,729,967		126,910		89,493		1,946,370
Corporate and other expenses							(1,712,422)
Operating income							$	233,948

Schedule of reconciliation of segment gross contribution to net income (loss)

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Total segment gross contribution	$	672,533	$	636,505	$	2,004,262	$	1,946,370
Costs and expenses:
Cost of services and product development - unallocated (1)	7,682		1,059		11,214		4,242
Selling, general and administrative	521,508		512,159		1,512,987		1,545,905
Depreciation and amortization	53,971		52,398		162,603		158,119
Acquisition and integration charges	1,722		1,742		5,438		4,156
Operating income	87,650		69,147		312,020		233,948
Interest expense and other, net	(28,669)		(16,049)		(97,228)		(66,716)
Loss from divested operations	—		—		—		(2,075)
Loss on extinguishment of debt	(44,814)		—		(44,814)		—
Less: (Benefit) provision for income taxes	(2,797)		11,710		22,840		(432)
Net income	$	16,964	$	41,388	$	147,138	$	165,589

(1)The unallocated amounts consist of certain bonus and fringe costs recorded in consolidated Cost of services and product development that are not allocated to segment expense. The Company’s policy is to allocate bonuses to segments at 100% of a segment employee’s target bonus. Amounts above or below 100% are absorbed by corporate.