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Segment Information
6 Months Ended
Jun. 30, 2011
Segment Information

Note 5 — Segment Information

The Company manages its business through three reportable segments: Research, Consulting and Events. Research consists primarily of subscription-based research products, access to research inquiry, as well as peer networking services and membership programs. Consulting consists primarily of consulting, measurement engagements, and strategic advisory services. Events consists of various symposia, conferences, and exhibitions.

The Company evaluates reportable segment performance and allocates resources based on gross contribution margin. Gross contribution, as presented in the table below, is defined as operating income excluding certain Cost of services and product development and Selling, general and administrative expenses, depreciation, acquisition and integration charges, amortization of intangibles, and Other charges. Certain bonus and fringe benefit costs included in consolidated Cost of services and product development are not allocated to segment expense. The accounting policies used by the reportable segments are the same as those used by the Company. There are no inter-segment revenues.

The Company does not identify or allocate assets, including capital expenditures, by reportable segment. Accordingly, assets are not reported by segment because the information is not available by segment and is not reviewed in the evaluation of segment performance or in making decisions in the allocation of resources.

The following tables present information about the Company’s reportable segments (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2011:

 

Research

 

Consulting

 

Events

 

Consolidated

 

 

 


 


 


 


 

Revenues

 

$

250,015

 

$

77,962

 

$

37,566

 

$

365,543

 

Gross contribution

 

 

168,304

 

 

28,873

 

 

17,315

 

 

214,492

 

Corporate and other expenses

 

 

 

 

 

 

 

 

 

 

 

(162,924

)

 

 

 

 

 

 

 

 

 

 

 



 

Operating income

 

 

 

 

 

 

 

 

 

 

 

51,568

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

(2,797

)

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

(571

)

 

 

 

 

 

 

 

 

 

 

 



 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

48,200

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2010:

 

Research

 

Consulting

 

Events

 

Consolidated

 

 

 


 


 


 


 

Revenues

 

$

209,095

 

$

75,760

 

$

29,340

 

$

314,195

 

Gross contribution

 

 

135,970

 

 

31,819

 

 

11,499

 

 

179,288

 

Corporate and other expenses

 

 

 

 

 

 

 

 

 

 

 

(145,058

)

 

 

 

 

 

 

 

 

 

 

 



 

Operating income

 

 

 

 

 

 

 

 

 

 

 

34,230

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

(3,180

)

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

(643

)

 

 

 

 

 

 

 

 

 

 

 



 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

30,407

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2011:

 

Research

 

Consulting

 

Events

 

Consolidated

 

 

 


 


 


 


 

Revenues

 

$

493,450

 

$

148,592

 

$

53,068

 

$

695,110

 

Gross contribution

 

 

332,805

 

 

54,362

 

 

22,980

 

 

410,147

 

Corporate and other expenses

 

 

 

 

 

 

 

 

 

 

 

(312,798

)

 

 

 

 

 

 

 

 

 

 

 



 

Operating income

 

 

 

 

 

 

 

 

 

 

 

97,349

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

(5,581

)

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

(953

)

 

 

 

 

 

 

 

 

 

 

 



 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

90,815

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2010:

 

Research

 

Consulting

 

Events

 

Consolidated

 

 

 


 


 


 


 

Revenues

 

$

419,768

 

$

147,399

 

$

42,861

 

$

610,028

 

Gross contribution

 

 

274,706

 

 

60,241

 

 

16,714

 

 

351,661

 

Corporate and other expenses

 

 

 

 

 

 

 

 

 

 

 

(288,233

)

 

 

 

 

 

 

 

 

 

 

 



 

Operating income

 

 

 

 

 

 

 

 

 

 

 

63,428

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

(6,564

)

Other income, net

 

 

 

 

 

 

 

 

 

 

 

1,109

 

 

 

 

 

 

 

 

 

 

 

 



 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

57,973