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Revenue and Related Matters
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue and Related Matters Revenue and Related Matters
Disaggregated Revenue — The Company’s disaggregated revenue by reportable segment is presented in the tables below for the periods indicated (in thousands).

By Primary Geographic Market (1)

Three Months Ended September 30, 2020
Primary Geographic MarketResearchConferencesConsultingTotal
United States and Canada$574,203 $10,669 $55,389 $640,261 
Europe, Middle East and Africa210,152 2,064 23,495 235,711 
Other International108,364 5 10,277 118,646 
Total revenues $892,719 $12,738 $89,161 $994,618 


Three Months Ended September 30, 2019
Primary Geographic MarketResearchConferencesConsultingTotal
United States and Canada$538,112 $28,153 $58,615 $624,880 
Europe, Middle East and Africa196,121 24,497 26,468 247,086 
Other International106,765 13,636 8,135 128,536 
Total revenues $840,998 $66,286 $93,218 $1,000,502 
Nine Months Ended September 30, 2020
Primary Geographic MarketResearchConferencesConsultingTotal
United States and Canada$1,737,603 $16,966 $167,570 $1,922,139 
Europe, Middle East and Africa612,946 4,211 83,691 700,848 
Other International326,790 5,748 31,119 363,657 
Total revenues $2,677,339 $26,925 $282,380 $2,986,644 

Nine Months Ended September 30, 2019
Primary Geographic MarketResearchConferencesConsultingTotal
United States and Canada$1,593,806 $157,756 $175,208 $1,926,770 
Europe, Middle East and Africa583,742 67,520 90,350 741,612 
Other International314,879 34,116 24,451 373,446 
Total revenues $2,492,427 $259,392 $290,009 $3,041,828 

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

The Company’s revenue is generated primarily through direct sales to clients by domestic and international sales forces and a network of independent international sales agents. Most of the Company’s products and services are provided on an integrated worldwide basis and, because of this integrated delivery approach, it is not practical to precisely separate our revenue by geographic location. Accordingly, revenue information presented in the above tables is based on internal allocations, which involve certain management estimates and judgments.

By Timing of Revenue Recognition


Three Months Ended September 30, 2020
Timing of Revenue RecognitionResearchConferencesConsultingTotal
Transferred over time (1)$823,658 $— $73,989 $897,647 
Transferred at a point in time (2)69,061 12,738 15,172 96,971 
Total revenues $892,719 $12,738 $89,161 $994,618 


Three Months Ended September 30, 2019
Timing of Revenue RecognitionResearchConferencesConsultingTotal
Transferred over time (1)$769,718 $— $77,570 $847,288 
Transferred at a point in time (2)71,280 66,286 15,648 153,214 
Total revenues $840,998 $66,286 $93,218 $1,000,502 


Nine Months Ended September 30, 2020
Timing of Revenue RecognitionResearchConferencesConsultingTotal
Transferred over time (1)$2,463,434 $— $224,027 $2,687,461 
Transferred at a point in time (2)213,905 26,925 58,353 299,183 
Total revenues $2,677,339 $26,925 $282,380 $2,986,644 
Nine Months Ended September 30, 2019
Timing of Revenue RecognitionResearchConferencesConsultingTotal
Transferred over time (1)$2,276,783 $— $235,641 $2,512,424 
Transferred at a point in time (2)215,644 259,392 54,368 529,404 
Total revenues $2,492,427 $259,392 $290,009 $3,041,828 

(1)Research revenues were recognized in connection with performance obligations that were satisfied over time using a time-elapsed output method to measure progress. Consulting revenues were recognized over time using labor hours as an input measurement basis.
(2)The revenues in this category were recognized in connection with performance obligations that were satisfied at the point in time that the contractual deliverables were provided to the customer.

Performance Obligations — For customer contracts that are greater than one year in duration, the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2020 was approximately $2.9 billion. The Company expects to recognize $554.0 million, $1,622.4 million and $695.9 million of this revenue (most of which pertains to Research) during the remainder of 2020, the year ending December 31, 2021 and thereafter, respectively. The Company applies a practical expedient that is permitted under ASC Topic 606 and, accordingly, it does not disclose such performance obligation information for customer contracts that have original durations of one year or less. Our performance obligations for contracts meeting this ASC Topic 606 disclosure exclusion primarily include: (i) stand-ready services under Research subscription contracts; (ii) holding conferences and meetings where attendees and exhibitors can participate; and (iii) providing customized Consulting solutions for clients under fixed fee and time and materials engagements. The remaining duration of these performance obligations is generally less than one year, which aligns with the period that the parties have enforceable rights and obligations under the affected contracts.

Customer Contract Assets and Liabilities — The timing of the recognition of revenue and the amount and timing of our billings and cash collections, including upfront customer payments, result in the recognition of both assets and liabilities on our consolidated balance sheet. The table below provides information regarding certain of the Company’s balance sheet accounts that pertain to its contracts with customers (in thousands).

September 30,December 31,
20202019
Assets:
Fees receivable, gross (1)$958,864 $1,334,012 
Contract assets recorded in Prepaid expenses and other current assets (2)$23,990 $21,350 
Contract liabilities:
Deferred revenues (current liability) (3)$1,710,791 $1,928,020 
Non-current deferred revenues recorded in Other liabilities (3)26,051 24,409 
Total contract liabilities$1,736,842 $1,952,429 

(1)Fees receivable represent an 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 billing milestone or some other billing restriction.
(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).

The Company recognized revenue of $681.6 million and $675.2 million during the three months ended September 30, 2020 and 2019, respectively, and $1,354.2 million and $1,312.3 million during the nine months ended September 30, 2020 and 2019, respectively, that was attributable to deferred revenues that were recorded at the beginning of each such period. Those amounts
primarily consisted of (i) Research revenues that were recognized ratably as control of the goods or services passed to the customer and (ii) Conferences revenue pertaining to conferences and meetings that occurred during the reporting periods. During each of the three and nine months ended September 30, 2020 and 2019, the Company did not record any material impairments related to its contract assets. The Company does not typically recognize revenue from performance obligations satisfied in prior periods.