Business and Basis of Presentation Business and Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Below is a table reconciling the beginning-of-period and end-of-period total cash amounts included in the Condensed Consolidated Balance Sheets to the amounts presented in the Condensed Consolidated Cash Flow Statements (in thousands).



	March 31,				December 31,
	2018		2017		2017		2016
Cash and cash equivalents	$	189,979	$	1,227,891	$	538,908	$	474,233
Restricted cash classified in (1), (2):
Prepaid expenses and other current assets	18,143		25,121		15,148		25,121
Other assets	—		18,150		3,002		—
Cash classified as held-for-sale (3)	19,508		—		10,000		—
Cash and cash equivalents and restricted cash per the Condensed Consolidated Statements of Cash Flows	$	227,630	$	1,271,162	$	567,058	$	499,354

(1)

Restricted cash pertains to escrow accounts established in connection with certain of the Company's business acquisitions. Generally, such cash is restricted to use due to provisions contained in the underlying asset purchase agreement. The Company will disburse the restricted cash to the sellers of the businesses upon satisfaction of any contingencies described in such agreements (e.g., potential indemnification claims, etc.).


(2)	Restricted cash is recorded in Prepaid expenses and other current assets and Other assets in the Company's consolidated balance sheets with the short-term or long-term classification dependent on the projected timing of disbursements to the sellers.


(3)	Represents cash classified as a held-for-sale asset for certain businesses that were acquired as part of the CEB acquisition. See Note 2 — Acquisitions and Divestitures for additional information.

Schedule of Restricted Cash



	March 31,				December 31,
	2018		2017		2017		2016
Cash and cash equivalents	$	189,979	$	1,227,891	$	538,908	$	474,233
Restricted cash classified in (1), (2):
Prepaid expenses and other current assets	18,143		25,121		15,148		25,121
Other assets	—		18,150		3,002		—
Cash classified as held-for-sale (3)	19,508		—		10,000		—
Cash and cash equivalents and restricted cash per the Condensed Consolidated Statements of Cash Flows	$	227,630	$	1,271,162	$	567,058	$	499,354

(1)


(2)	Restricted cash is recorded in Prepaid expenses and other current assets and Other assets in the Company's consolidated balance sheets with the short-term or long-term classification dependent on the projected timing of disbursements to the sellers.


(3)	Represents cash classified as a held-for-sale asset for certain businesses that were acquired as part of the CEB acquisition. See Note 2 — Acquisitions and Divestitures for additional information.

Schedule of Disaggregation of Revenue by Reportable Segment

Our disaggregated revenue information by reportable segment is presented for the periods indicated in the tables below (in thousands).

Three Months Ended March 31, 2018



	Research		Events		Consulting		Talent Assessment & Other		Total
Primary Geographic Markets: (1)
United States and Canada	$	489,713	$	24,069	$	45,129	$	34,594	$	593,505
Europe, Middle East and Africa	184,547		16,891		29,938		28,290		259,666
Other International	89,664		5,127		7,829		7,774		110,394
Total revenues	$	763,924	$	46,087	$	82,896	$	70,658	$	963,565

Three Months Ended March 31, 2017



	Research		Events		Consulting		Talent Assessment & Other		Total
Primary Geographic Markets: (1)
United States and Canada	$	327,492	$	17,663	$	47,832	$	—	$	392,987
Europe, Middle East and Africa	115,802		14,095		23,823		—		153,720
Other International	68,012		3,511		6,939		—		78,462
Total revenues	$	511,306	$	35,269	$	78,594	$	—	$	625,169


(1)	Revenues are reported based on where the sale is fulfilled.

Schedule of Disaggregation of Revenue

Three Months Ended March 31, 2018



	Research		Events		Consulting		Talent Assessment & Other		Total
Timing of Revenue Recognition:
Transferred over time (1)	$	701,096	$	—	$	74,010	$	58,946	$	834,052
Transferred at a point in time (2)	62,828		46,087		8,886		11,712		129,513
Total revenues	$	763,924	$	46,087	$	82,896	$	70,658	$	963,565

Three Months Ended March 31, 2017



	Research		Events		Consulting		Talent Assessment & Other		Total
Timing of Revenue Recognition:
Transferred over time (1)	$	466,706	$	—	$	64,994	$	—	$	531,700
Transferred at a point in time (2)	44,600		35,269		13,600		—		93,469
Total revenues	$	511,306	$	35,269	$	78,594	$	—	$	625,169

(1)

These Research revenues were recognized in connection with performance obligations that were satisfied over time using a time-elapsed output method to measure progress. The corresponding Consulting revenues were recognized over time using labor hours as an input measurement basis. Talent Assessment & Other revenues in this category were recognized using either a time-elapsed output method, performance-based milestone approach or labor hours, depending on the nature of the underlying customer contract.


(2)	The revenues in this category were recognized in connection with performance obligations that were satisfied at the point in time the contractual deliverables were provided to the customer.

Schedule for Contract with Customer, Asset and Liability

The table below provides information regarding certain of the Company’s balance sheet accounts that pertain to its contracts with customers, to exclude our held-for-sale businesses (in thousands):



	March 31,		December 31,
	2018		2017
Assets:
Fees receivable, gross (1)	$	1,142,064	$	1,162,871

Contract assets (2)	$	27,593	$	26,672

Contract liabilities:
Deferred revenues (current liability) (3)	$	1,719,637	$	1,630,198
Non-current deferred revenues (3)	16,139		16,205
Total contract liabilities	$	1,735,776	$	1,646,403


(1)	Fees receivable represent the unconditional right of payment from our customers and includes both billed and unbilled amounts.

(2)

Contract assets represent recognized revenue for which we do not have an unconditional right to payment as of the balance sheet date because the project may be subject to a progress milestone or some other billing restriction. In the accompanying Condensed Consolidated Balance Sheets, contract assets are recorded in Prepaid expenses and other current assets as of March 31, 2018 and Fees receivable, net as of December 31, 2017.


(3)	Deferred revenues represent amounts (i) for which the Company has received an upfront customer payment or (ii) that pertain to recognized fees receivable. Both situations occur before the completion of our performance obligation(s).