Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2024 that indicated no impairment. Subsequent to completing the 2024 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 three months ended March 31, 2025 (in thousands).


	Research		Conferences		Consulting		Total
Balance at December 31, 2024 (1)	$	2,650,981	$	183,920	$	95,304	$	2,930,205


Foreign currency translation impact	2,447		38		432		2,917
Balance at March 31, 2025 (1)	$	2,653,428	$	183,958	$	95,736	$	2,933,122

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

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).


March 31, 2025	Customer Relationships		Other		Total
Gross cost at December 31, 2024	$	1,071,917	$	10,200	$	1,082,117

Intangible assets fully amortized	(10,120)		—		(10,120)

Foreign currency translation impact	10,385		—		10,385
Gross cost	1,072,182		10,200		1,082,382
Accumulated amortization (1)	(683,046)		(7,532)		(690,578)
Balance at March 31, 2025	$	389,136	$	2,668	$	391,804


December 31, 2024	Customer Relationships		Other		Total
Gross cost	$	1,071,917	$	10,200	$	1,082,117
Accumulated amortization (1)	(665,131)		(7,297)		(672,428)
Balance at December 31, 2024	$	406,786	$	2,903	$	409,689

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

Amortization expense related to finite-lived intangible assets was $21.9 million and $23.0 million during the three months ended March 31, 2025 and 2024, respectively. The estimated future amortization expense by year for finite-lived intangible assets is presented in the table below (in thousands).


2025 (remaining nine months)	$	59,776
2026	79,190
2027	78,582
2028	77,110
2029	77,032
2030	20,114
	$	391,804