Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022	Research		Conferences		Consulting		Consolidated
Revenues	$	1,142,329	$	113,525	$	120,667	$	1,376,521
Gross contribution	843,965		73,526		50,223		967,714
Corporate and other expenses							(670,592)
Operating income							$	297,122

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


Six Months Ended June 30, 2022	Research		Conferences		Consulting		Consolidated
Revenues	$	2,278,709	$	123,879	$	236,673	$	2,639,261
Gross contribution	1,693,344		70,650		101,235		1,865,229
Corporate and other expenses							(1,350,860)
Operating income							$	514,369


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

Schedule of reconciliation of segment gross contribution to net income

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,
	2022		2021		2022		2021
Total segment gross contribution	$	967,714	$	827,503	$	1,865,229	$	1,604,869
Costs and expenses:
Cost of services and product development - unallocated (1)	15,728		10,986		27,536		18,781
Selling, general and administrative	604,911		488,496		1,222,815		975,751
Depreciation and amortization	47,664		52,005		96,013		108,269
Acquisition and integration charges	2,289		1,302		4,496		1,942
Operating income	297,122		274,714		514,369		500,126
Interest expense and other, net	(21,171)		(31,072)		(23,359)		(41,731)
Gain on event cancellation insurance claims	—		135,545		—		135,545

Less: Provision for income taxes	71,026		107,951		113,570		158,604
Net income	$	204,925	$	271,236	$	377,440	$	435,336

(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.