Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023	Research		Conferences		Consulting		Consolidated
Revenues	$	1,207,885	$	168,897	$	126,403	$	1,503,185
Gross contribution	885,282		98,450		47,321		1,031,053
Corporate and other expenses							(747,946)
Operating income							$	283,107

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


Six Months Ended June 30, 2023	Research		Conferences		Consulting		Consolidated
Revenues	$	2,425,076	$	233,539	$	253,439	$	2,912,054
Gross contribution	1,784,796		125,238		98,129		2,008,163
Corporate and other expenses							(1,317,099)
Operating income							$	691,064

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

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,
	2023		2022		2023		2022
Total segment gross contribution	$	1,031,053	$	967,714	$	2,008,163	$	1,865,229
Costs and expenses:
Cost of services and product development - unallocated (1)	15,286		15,728		18,666		27,536
Selling, general and administrative	680,168		604,911		1,337,258		1,222,815
Depreciation and amortization	46,613		47,664		93,244		96,013
Acquisition and integration charges	1,973		2,289		3,341		4,496
Gain from sale of divested operation	3,906		—		(135,410)		—
Operating income	283,107		297,122		691,064		514,369
Interest expense and other, net	(18,983)		(21,171)		(48,740)		(23,359)
Gain on event cancellation insurance claims	—		—		3,077		—

Less: Provision for income taxes	66,081		71,026		151,575		113,570
Net income	$	198,043	$	204,925	$	493,826	$	377,440

(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.