Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30, 2021	Research		Conferences		Consulting		Consolidated
Revenues	$	1,003,238	$	58,179	$	105,902	$	1,167,319
Gross contribution	742,131		42,602		42,770		827,503
Corporate and other expenses							(552,789)
Operating income							$	274,714


Three Months Ended June 30, 2020	Research		Conferences		Consulting		Consolidated
Revenues	$	875,329	$	317	$	97,489	$	973,135
Gross contribution	632,624		(11,230)		33,542		654,936
Corporate and other expenses							(555,285)
Operating income							$	99,651


Six Months Ended June 30, 2021	Research		Conferences		Consulting		Consolidated
Revenues	$	1,982,970	$	82,981	$	205,406	$	2,271,357
Gross contribution	1,466,503		56,498		81,868		1,604,869
Corporate and other expenses							(1,104,743)
Operating income							$	500,126


Six Months Ended June 30, 2020	Research		Conferences		Consulting		Consolidated
Revenues	$	1,784,620	$	14,187	$	193,219	$	1,992,026
Gross contribution	1,286,094		(17,290)		62,925		1,331,729
Corporate and other expenses							(1,107,359)
Operating income							$	224,370

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				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Total segment gross contribution	$	827,503	$	654,936	$	1,604,869	$	1,331,729
Costs and expenses:
Cost of services and product development - unallocated (1)	10,986		4,352		18,781		3,532
Selling, general and administrative	488,496		494,840		975,751		991,479
Depreciation and amortization	52,005		53,936		108,269		108,632
Acquisition and integration charges	1,302		2,157		1,942		3,716
Operating income	274,714		99,651		500,126		224,370
Interest expense and other, net	(31,072)		(40,695)		(41,731)		(68,559)
Gain on event cancellation insurance claims	135,545		—		135,545		—

Less: Provision for income taxes	107,951		3,879		158,604		25,637
Net income	$	271,236	$	55,077	$	435,336	$	130,174

(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.