Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

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 quantitative analysis conducted during the quarter ended September 30, 2025 that indicated an impairment of the Company’s Digital Markets reporting unit. During the three months ended September 30, 2025, ongoing weakness in the market as well as changes in the Company’s internal organization structure prompted a revision to the long-term earnings forecast for the Digital Markets business. During the three months ended September 30, 2025, a goodwill impairment loss of $150.0 million was recognized in the Digital Markets reporting unit. Subsequent to completing the 2025 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, 2026 (in thousands).


	Insights		Conferences		Consulting		Total
Balance at December 31, 2025	$	2,460,315	$	184,052	$	96,435	$	2,740,802



Foreign currency translation impact	(447)		(10)		(81)		(538)
Balance at March 31, 2026	$	2,459,868	$	184,042	$	96,354	$	2,740,264

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, 2026	Customer Relationships		Other		Total
Gross cost at December 31, 2025	$	1,021,757	$	10,200	$	1,031,957



Foreign currency translation impact	(1,623)		—		(1,623)
Gross cost	1,020,134		10,200		1,030,334
Accumulated amortization (1)	(706,106)		(8,474)		(714,580)
Balance at March 31, 2026	$	314,028	$	1,726	$	315,754


December 31, 2025	Customer Relationships		Other		Total
Gross cost	$	1,021,757	$	10,200	$	1,031,957
Accumulated amortization (1)	(687,416)		(8,238)		(695,654)
Balance at December 31, 2025	$	334,341	$	1,962	$	336,303

(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 $20.1 million and $21.9 million during the three months ended March 31, 2026 and 2025, respectively. The estimated future amortization expense by year for finite-lived intangible assets is presented in the table below (in thousands).


2026 (remaining nine months)	$	60,052
2027	79,460
2028	77,989
2029	77,910
2030	20,343
	$	315,754