Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30, 2024	Research		Conferences		Consulting		Consolidated
Revenues	$	1,280,908	$	75,776	$	127,622	$	1,484,306
Gross contribution	943,426		30,489		41,517		1,015,432
Corporate and other expenses							(769,608)
Operating income							$	245,824

Three Months Ended September 30, 2023	Research		Conferences		Consulting		Consolidated
Revenues	$	1,218,739	$	57,200	$	132,845	$	1,408,784
Gross contribution	894,149		20,449		48,551		963,149
Corporate and other expenses							(718,732)
Operating income							$	244,417


Nine Months Ended September 30, 2024	Research		Conferences		Consulting		Consolidated
Revenues	$	3,815,072	$	331,929	$	405,291	$	4,552,292
Gross contribution	2,821,116		161,856		149,523		3,132,495
Corporate and other expenses							(2,294,003)
Operating income							$	838,492

Nine Months Ended September 30, 2023	Research		Conferences		Consulting		Consolidated
Revenues	$	3,643,815	$	290,739	$	386,284	$	4,320,838
Gross contribution	2,678,945		145,687		146,680		2,971,312
Corporate and other expenses							(2,035,831)
Operating income							$	935,481

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				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Total segment gross contribution	$	1,015,432	$	963,149	$	3,132,495	$	2,971,312
Costs and expenses:
Cost of services and product development - unallocated (1)	6,468		5,206		28,300		23,872
Selling, general and administrative	711,729		660,527		2,113,633		1,997,785
Depreciation and amortization	51,252		48,536		151,093		141,780
Acquisition and integration charges	159		4,463		977		7,804
Gain from sale of divested operation	—		—		—		(135,410)
Operating income	245,824		244,417		838,492		935,481
Interest expense and other, net	(18,952)		(19,943)		(52,766)		(68,683)
Gain on event cancellation insurance claims	300,000		—		300,000		3,077

Less: Provision for income taxes	111,823		44,465		230,584		196,040
Net income	$	415,049	$	180,009	$	855,142	$	673,835

(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.