UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
	For the quarterly period ended September 30, 2021
	OR
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number 1-14443

Gartner, Inc.

(Exact name of Registrant as specified in its charter)

Delaware	04-3099750
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification Number)
P.O. Box 10212	06902-7700
56 Top Gallant Road	(Zip Code)
Stamford,
Connecticut
(Address of principal executive offices)

Registrant’s telephone number, including area code: (203) 316-1111

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $.0005 par value per share	IT	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☑	Accelerated filer	☐	Non-accelerated filer	☐
		Smaller reporting company	☐	Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of October 29, 2021, 82,239,010 shares of the registrant’s common shares were outstanding.

1

Table of Contents

	Page
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (Unaudited)
Condensed Consolidated Balance Sheets at September 30, 2021 and December 31, 2020	3
Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2021 and 2020	4
Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2021 and 2020	5
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Nine Months Ended September 30, 2021 and 2020	6
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2021 and 2020	8
Notes to Condensed Consolidated Financial Statements	9
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	27
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	40
ITEM 4. CONTROLS AND PROCEDURES	41
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS	42
ITEM 1A. RISK FACTORS	42
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	42
ITEM 6. EXHIBITS	43

2

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

GARTNER, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited; in thousands, except share data)

	September 30,		December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	765,530	$	712,583
Fees receivable, net of allowances of $6,000 and $10,000, respectively	969,966		1,241,508
Deferred commissions	250,409		259,755
Prepaid expenses and other current assets	122,943		109,212
Total current assets	2,108,848		2,323,058
Property, equipment and leasehold improvements, net	297,020		336,765
Operating lease right-of-use assets	616,317		647,283
Goodwill	2,952,927		2,945,547
Intangible assets, net	743,950		806,998
Other assets	275,577		256,316
Total Assets	$	6,994,639	$	7,315,967
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities	$	870,310	$	952,431
Deferred revenues	2,028,908		1,974,548
Current portion of long-term debt	5,326		20,515
Total current liabilities	2,904,544		2,947,494
Long-term debt, net of deferred financing fees	2,457,643		1,958,286
Operating lease liabilities	740,088		780,166
Other liabilities	557,857		539,593
Total Liabilities	6,660,132		6,225,539
Stockholders’ Equity
Preferred stock, $0.01 par value, 5,000,000 shares authorized; none issued or outstanding	—		—
Common stock, $0.0005 par value, 250,000,000 shares authorized; 163,602,067 shares issued for both periods	82		82
Additional paid-in capital	2,054,563		1,968,930
Accumulated other comprehensive loss, net	(83,837)		(99,228)
Accumulated earnings	2,839,668		2,255,467
Treasury stock, at cost, 80,666,111 and 74,759,985 common shares, respectively	(4,475,969)		(3,034,823)
Total Stockholders’ Equity	334,507		1,090,428
Total Liabilities and Stockholders’ Equity	$	6,994,639	$	7,315,967

See the accompanying notes to Condensed Consolidated Financial Statements.

3

GARTNER, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(Unaudited; in thousands, except per share data)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Revenues:
Research	$	1,037,124	$	892,719	$	3,020,094	$	2,677,339
Conferences	24,415		12,738		107,396		26,925
Consulting	94,743		89,161		300,149		282,380
Total revenues	1,156,282		994,618		3,427,639		2,986,644
Costs and expenses:
Cost of services and product development	359,237		329,767		1,044,506		993,596
Selling, general and administrative	512,573		521,508		1,488,324		1,512,987
Depreciation	25,371		22,743		76,972		67,988
Amortization of intangibles	27,109		31,228		83,777		94,615
Acquisition and integration charges	1,771		1,722		3,713		5,438
Total costs and expenses	926,061		906,968		2,697,292		2,674,624
Operating income	230,221		87,650		730,347		312,020
Interest expense, net	(31,599)		(30,538)		(85,138)		(87,182)
Gain on event cancellation insurance claims	—		—		135,545		—
Loss on extinguishment of debt	—		(44,814)		—		(44,814)
Other income (expense), net	211		1,869		12,019		(10,046)
Income before income taxes	198,833		14,167		792,773		169,978
Provision (benefit) for income taxes	49,968		(2,797)		208,572		22,840
Net income	$	148,865	$	16,964	$	584,201	$	147,138
Net income per share:
Basic	$	1.78	$	0.19	$	6.80	$	1.65
Diluted	$	1.76	$	0.19	$	6.72	$	1.63
Weighted average shares outstanding:
Basic	83,566		89,378		85,877		89,307
Diluted	84,766		89,955		86,925		90,002

See the accompanying notes to Condensed Consolidated Financial Statements.

4

GARTNER, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income

(Unaudited; in thousands)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Net income	$	148,865	$	16,964	$	584,201	$	147,138
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(6,488)		7,498		(1,172)		(15,066)
Interest rate swaps – net change in deferred gain or loss	5,529		4,379		16,256		(37,453)
Pension plans – net change in deferred actuarial loss	100		85		307		244
Other comprehensive (loss) income, net of tax	(859)		11,962		15,391		(52,275)
Comprehensive income	$	148,006	$	28,926	$	599,592	$	94,863

See the accompanying notes to Condensed Consolidated Financial Statements.

5

GARTNER, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Changes in Stockholders’ Equity

(Unaudited; in thousands)

Three and Nine Months Ended September 30, 2021
	Common Stock		Additional Paid-In Capital		Accumulated Other Comprehensive Loss, Net		Accumulated Earnings		Treasury Stock		Total
Balance at December 31, 2020	$	82	$	1,968,930	$	(99,228)	$	2,255,467	$	(3,034,823)	$	1,090,428
Net income	—		—		—		164,100		—		164,100
Other comprehensive income	—		—		6,050		—		—		6,050
Issuances under stock plans	—		(1,543)		—		—		6,923		5,380
Common share repurchases	—		—		—		—		(410,450)		(410,450)
Stock-based compensation expense	—		36,086		—		—		—		36,086
Balance at March 31, 2021	$	82	$	2,003,473	$	(93,178)	$	2,419,567	$	(3,438,350)	$	891,594
Net income	—		—		—		271,236		—		271,236
Other comprehensive income	—		—		10,200		—		—		10,200
Issuances under stock plans	—		2,063		—		—		2,017		4,080
Common share repurchases	—		—		—		—		(675,662)		(675,662)
Stock-based compensation expense	—		26,190		—		—		—		26,190
Balance at June 30, 2021	$	82	$	2,031,726	$	(82,978)	$	2,690,803	$	(4,111,995)	$	527,638
Net income	—		—		—		148,865		—		148,865
Other comprehensive loss	—		—		(859)		—		—		(859)
Issuances under stock plans	—		3,411		—		—		720		4,131
Common share repurchases	—		—		—		—		(364,694)		(364,694)
Stock-based compensation expense	—		19,426		—		—		—		19,426
Balance at September 30, 2021	$	82	$	2,054,563	$	(83,837)	$	2,839,668	$	(4,475,969)	$	334,507

6

GARTNER, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Changes in Stockholders’ Equity

(Unaudited; in thousands)

Three and Nine Months Ended September 30, 2020
	Common Stock		Additional Paid-In Capital		Accumulated Other Comprehensive Loss, Net		Accumulated Earnings		Treasury Stock		Total
Balance at December 31, 2019	$	82	$	1,899,273	$	(77,938)	$	1,988,722	$	(2,871,546)	$	938,593
Net income	—		—		—		75,097		—		75,097
Other comprehensive loss	—		—		(91,034)		—		—		(91,034)
Issuances under stock plans	—		(1,794)		—		—		7,448		5,654
Common share repurchases	—		—		—		—		(63,164)		(63,164)
Stock-based compensation expense	—		25,129		—		—		—		25,129
Balance at March 31, 2020	$	82	$	1,922,608	$	(168,972)	$	2,063,819	$	(2,927,262)	$	890,275
Net income	—		—		—		55,077		—		55,077
Other comprehensive income	—		—		26,797		—		—		26,797
Issuances under stock plans	—		3,223		—		—		867		4,090
Common share repurchases	—		—		—		—		(698)		(698)
Stock-based compensation expense	—		15,678		—		—		—		15,678
Balance at June 30, 2020	$	82	$	1,941,509	$	(142,175)	$	2,118,896	$	(2,927,093)	$	991,219
Net income	—		—		—		16,964		—		16,964
Other comprehensive income	—		—		11,962		—		—		11,962
Issuances under stock plans	—		3,133		—		—		979		4,112
Common share repurchases	—		—		—		—		(2,255)		(2,255)
Stock-based compensation expense	—		15,501		—		—		—		15,501
Balance at September 30, 2020	$	82	$	1,960,143	$	(130,213)	$	2,135,860	$	(2,928,369)	$	1,037,503

7

GARTNER, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(Unaudited; in thousands)

	Nine Months Ended
	September 30,
	2021		2020
Operating activities:
Net income	$	584,201	$	147,138
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	160,749		162,603
Stock-based compensation expense	81,702		56,308
Deferred taxes	449		(6,548)
Loss on extinguishment of debt	—		44,814
Reduction in the carrying amount of operating lease right-of-use assets	56,162		62,876
Amortization and write-off of deferred financing fees	3,036		7,487
Amortization of deferred swap losses from de-designation	—		10,320
(Gain) loss on de-designated swaps	(12,149)		476
Changes in assets and liabilities:
Fees receivable, net	257,541		369,119
Deferred commissions	6,783		56,094
Prepaid expenses and other current assets	(18,418)		(9,104)
Other assets	(23,979)		(3,509)
Deferred revenues	103,565		(210,170)
Accounts payable and accrued and other liabilities	(121,958)		(45,074)
Cash provided by operating activities	1,077,684		642,830
Investing activities:
Additions to property, equipment and leasehold improvements	(38,670)		(60,845)
Acquisitions - cash paid (net of cash acquired)	(23,030)		—
Cash used in investing activities	(61,700)		(60,845)
Financing activities:
Proceeds from employee stock purchase plan	13,527		13,813
Proceeds from borrowings	600,000		2,000,000
Early redemption premium payment	—		(30,752)
Payments of deferred financing fees	(7,320)		(23,627)
Proceeds from revolving credit facility	—		327,000
Payments on revolving credit facility	(5,000)		(475,000)
Payments on borrowings	(106,585)		(2,053,342)
Purchases of treasury stock	(1,438,808)		(76,117)
Cash used in financing activities	(944,186)		(318,025)
Net increase in cash and cash equivalents and restricted cash	71,798		263,960
Effects of exchange rates on cash and cash equivalents	(14,651)		8,919
Cash and cash equivalents, beginning of period	712,583		280,836
Cash and cash equivalents and restricted cash, end of period	$	769,730	$	553,715

See the accompanying notes to Condensed Consolidated Financial Statements.

8

GARTNER, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 1 — Business and Basis of Presentation

Business. Gartner (NYSE: IT) delivers actionable, objective insight to executives and their teams. Our expert guidance and tools enable faster, smarter decisions and stronger performance on an organization’s most critical priorities.

Segments. Gartner delivers its products and services globally through three business segments: Research, Conferences and Consulting. Revenues and other financial information for our segments are discussed in Note 7 — Segment Information.

Basis of presentation. The accompanying interim Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), as defined in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 270 for interim financial information and with the applicable instructions of U.S. Securities and Exchange Commission (“SEC”) Rule 10-01 of Regulation S-X on Form 10-Q, and should be read in conjunction with the consolidated financial statements and related notes of the Company in its Annual Report on Form 10-K for the year ended December 31, 2020.

The fiscal year of Gartner is the twelve-month period from January 1 through December 31. In the opinion of management, all normal recurring accruals and adjustments considered necessary for a fair presentation of financial position, results of operations and cash flows at the dates and for the periods presented herein have been included. The results of operations for the three and nine months ended September 30, 2021 may not be indicative of the results of operations for the remainder of 2021 or beyond. When used in these notes, the terms “Gartner,” the “Company,” “we,” “us,” or “our” refer to Gartner, Inc. and its consolidated subsidiaries.

Principles of consolidation. The accompanying interim Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated.

Use of estimates. The preparation of the accompanying interim Condensed Consolidated Financial Statements requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of fees receivable, goodwill, intangible assets and other long-lived assets, as well as tax accruals and other liabilities. In addition, estimates are used in revenue recognition, income tax expense or benefit, performance-based compensation charges, depreciation and amortization. Management believes its use of estimates in these interim Condensed Consolidated Financial Statements to be reasonable.

Management continually evaluates and revises its estimates using historical experience and other factors, including the general economic environment and actions it may take in the future. Management adjusts these estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time. As a result, differences between estimates and actual results could be material and would be reflected in the Company’s consolidated financial statements in future periods.

Cash and cash equivalents and restricted cash. For the nine months ended September 30, 2021, the end of period cash and cash equivalents and restricted cash balance of $769.7 million in the accompanying Condensed Consolidated Statements of Cash Flows consisted of $765.5 million of cash and cash equivalents and $4.2 million of restricted cash. The restricted cash was classified in Prepaid expenses and other current assets in the accompanying Condensed Consolidated Balance Sheets as of September 30, 2021.

Revenue recognition. Revenue is recognized in accordance with the requirements of FASB ASC Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). Revenue is only recognized when all of the required criteria for revenue recognition have been met. The accompanying Condensed Consolidated Statements of Operations present revenue net of any sales or value-added taxes that we collect from customers and remit to government authorities. ASC Topic 270 requires certain disclosures in interim financial statements around the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Note 4 — Revenue and Related Matters provides additional information regarding the Company’s revenues.

9

Gain on event cancellation insurance claims. In May 2021, the Company received $150.0 million of proceeds related to 2020 event cancellation insurance claims, and recorded a pre-tax gain of $135.5 million. The Company does not record any gain on insurance claims in excess of expenses incurred until the receipt of the insurance proceeds is deemed to be realizable.

Adoption of new accounting standards. The Company adopted the accounting standard described below during the nine months ended September 30, 2021.

Simplifying the Accounting for Income Taxes — In December 2019, the FASB issued ASU No. 2019-12, Income Taxes—Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). ASU No. 2019-12 provides new guidance to simplify the accounting for income taxes in certain areas, changes the accounting for select income tax transactions and makes minor ASC improvements. Gartner adopted ASU No. 2019-12 on January 1, 2021. The adoption of ASU No. 2019-12 did not have a material impact on the Company’s Condensed Consolidated Financial Statements.

Accounting standards issued but not yet adopted. The FASB has issued accounting standards that have not yet become effective and may impact the Company’s consolidated financial statements or related disclosures in future periods. Those standards and their potential impact are discussed below.

Accounting standard effective immediately upon voluntary election by Gartner

Reference Rate Reform — In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform—Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU No. 2020-04”). ASU No. 2020-04 provides that an entity can elect not to apply certain required modification accounting in U.S. GAAP to contracts where all changes to the critical terms relate to reference rate reform (e.g., the expected discontinuance of LIBOR and the transition to an alternative reference interest rate, etc.). In addition, the rule provides optional expedients and exceptions that enable entities to continue to apply hedge accounting for hedging relationships where one or more of the critical terms change due to reference rate reform. The rule became effective for all entities as of March 12, 2020 and will generally no longer be available to apply after December 31, 2022. The Company is currently evaluating the potential impact of ASU No. 2020-04 on its consolidated financial statements, including the rule’s potential impact on any debt modifications or other contractual changes in the future that may result from reference rate reform.

Note 2 — Acquisition

On June 17, 2021, the Company acquired 100% of the outstanding capital stock of Pulse Q&A Inc. (“Pulse”), a privately-held company based in San Francisco, California, for an aggregate purchase price of $29.1 million. Pulse is a technology-enabled community platform.

For cash flow reporting purposes, the Company paid $23.0 million in cash for Pulse after considering the cash acquired with the business, amounts held in escrow and certain other purchase price adjustments at closing. In addition to the purchase price, the Company may also be required to pay up to $4.5 million in cash in the future based on the continuing employment of certain key employees. Such amount will be recognized as compensation expense over three years and reported in Acquisition and integration charges in the Condensed Consolidated Statements of Operations.

The Company recorded $30.5 million of goodwill and finite-lived intangible assets for Pulse and $1.4 million of liabilities on a net basis. The Company believes that the recorded goodwill is supported by the anticipated synergies resulting from the acquisition. None of the recorded goodwill will be deductible for tax purposes. The fair value measurement of the finite-lived intangible assets was based primarily on an incremental profits valuation methodology, which included significant unobservable inputs and thus represented a Level 3 measurement as defined in FASB ASC Topic 820. The allocation of the purchase price is preliminary with respect to certain tax matters and the finalization of the valuation of finite-lived intangible assets.

The operating results of the acquired Pulse business and the related goodwill are being reported as part of the Company’s Research segment. The operating results of Pulse have been included in the Company’s consolidated financial statements since the date of acquisition; however, such operating results were not material to the Company’s consolidated operating results and segment results. Had the Company acquired Pulse in prior periods, the impact on the Company’s operating results would not have been material and, as a result, pro forma financial information for prior periods has not been presented herein.

Note 3 — Goodwill and Intangible Assets

10

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 the annual assessment of the recoverability of goodwill, the Company initially performs 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 the Company’s reporting units is less than the related carrying amount. If the Company does not believe that it is more likely than not that the fair value of any of the Company’s reporting units is less than the related carrying amount, then no quantitative impairment test is performed. However, if the results of the 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 a quantitative impairment test is performed. Evaluating the recoverability of goodwill requires judgments and assumptions regarding future trends and events. As a result, both the precision and reliability of the estimates are subject to uncertainty.

The Company’s most recent annual impairment test of goodwill was a qualitative analysis conducted during the quarter ended September 30, 2021 that indicated no impairment. Subsequent to completing the 2021 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, 2021 (in thousands).

	Research		Conferences		Consulting		Total
Balance at December 31, 2020 (1)	$	2,664,732	$	184,091	$	96,724	$	2,945,547
Additions due to an acquisition (2)	11,045		—		—		11,045
Foreign currency translation impact	(3,510)		(44)		(111)		(3,665)
Balance at September 30, 2021 (1)	$	2,672,267	$	184,047	$	96,613	$	2,952,927

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

(2)The additions were due to the acquisition of Pulse on June 17, 2021. See Note 2 — Acquisition for additional information.

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, 2021	Customer Relationships		Software		Content		Other		Total
Gross cost at December 31, 2020	$	1,154,210	$	110,597	$	3,965	$	10,614	$	1,279,386
Additions due to an acquisition (1)	7,980		11,200		—		320		19,500
Intangible assets fully amortized	(24,603)		(60,631)		(3,965)		(320)		(89,519)
Foreign currency translation impact	1,271		130		—		—		1,401
Gross cost	1,138,858		61,296		—		10,614		1,210,768
Accumulated amortization (2)	(429,234)		(33,058)		—		(4,526)		(466,818)
Balance at September 30, 2021	$	709,624	$	28,238	$	—	$	6,088	$	743,950

December 31, 2020	Customer Relationships		Software		Content		Other		Total
Gross cost	$	1,154,210	$	110,597	$	3,965	$	10,614	$	1,279,386
Accumulated amortization (2)	(381,776)		(83,320)		(3,595)		(3,697)		(472,388)
Balance at December 31, 2020	$	772,434	$	27,277	$	370	$	6,917	$	806,998

(1) The additions were due to the acquisition of Pulse on June 17, 2021. See Note 2 — Acquisition for additional information.

(2) Finite-lived intangible assets are amortized using the straight-line method over the following periods: Customer relationships—6 to 13 years; Software—3 to 7 years; Content—2 to 3 years; and Other—2 to 11 years.

11

Amortization expense related to finite-lived intangible assets was $27.1 million and $31.2 million during the three months ended September 30, 2021 and 2020, respectively, and $83.8 million and $94.6 million during the nine months ended September 30, 2021 and 2020. The estimated future amortization expense by year for finite-lived intangible assets is presented in the table below (in thousands).

2021 (remaining three months)	$	25,311
2022	101,244
2023	101,229
2024	94,027
2025	83,491
Thereafter	338,648
	$	743,950

Note 4 — 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, 2021

Primary Geographic Market	Research		Conferences		Consulting		Total
United States and Canada	$	671,517	$	14,171	$	56,715	$	742,403
Europe, Middle East and Africa	242,273		7,975		26,707		276,955
Other International	123,334		2,269		11,321		136,924
Total revenues	$	1,037,124	$	24,415	$	94,743	$	1,156,282

Three Months Ended September 30, 2020

Primary Geographic Market	Research		Conferences		Consulting		Total
United States and Canada	$	574,203	$	10,669	$	55,389	$	640,261
Europe, Middle East and Africa	210,152		2,064		23,495		235,711
Other International	108,364		5		10,277		118,646
Total revenues	$	892,719	$	12,738	$	89,161	$	994,618

Nine Months Ended September 30, 2021

Primary Geographic Market	Research		Conferences		Consulting		Total
United States and Canada	$	1,949,282	$	74,098	$	173,806	$	2,197,186
Europe, Middle East and Africa	709,230		25,156		92,528		$	826,914
Other International	361,582		8,142		33,815		$	403,539
Total revenues	$	3,020,094	$	107,396	$	300,149	$	3,427,639

Nine Months Ended September 30, 2020

Primary Geographic Market	Research		Conferences		Consulting		Total
United States and Canada	$	1,737,603	$	16,966	$	167,570	$	1,922,139
Europe, Middle East and Africa	612,946		4,211		83,691		700,848
Other International	326,790		5,748		31,119		363,657
Total revenues	$	2,677,339	$	26,925	$	282,380	$	2,986,644

12

(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 the Company’s 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, 2021

Timing of Revenue Recognition	Research		Conferences		Consulting		Total
Transferred over time (1)	$	944,206	$	—	$	77,538	$	1,021,744
Transferred at a point in time (2)	92,918		24,415		17,205		134,538
Total revenues	$	1,037,124	$	24,415	$	94,743	$	1,156,282

Three Months Ended September 30, 2020

Timing of Revenue Recognition	Research		Conferences		Consulting		Total
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

Nine Months Ended September 30, 2021

Timing of Revenue Recognition	Research		Conferences		Consulting		Total
Transferred over time (1)	$	2,755,047	$	—	$	247,869	$	3,002,916
Transferred at a point in time (2)	265,047		107,396		52,280		424,723
Total revenues	$	3,020,094	$	107,396	$	300,149	$	3,427,639

Nine Months Ended September 30, 2020

Timing of Revenue Recognition	Research		Conferences		Consulting		Total
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	$