Business and Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

As of December 31, 2018, future minimum annual cash payments under non-cancelable operating lease agreements for facilities, office equipment and other assets, which expire during 2019 and through 2038, were as follows (in thousands):

Year ending December 31,
2019	$	130,991
2020	121,802
2021	118,945
2022	111,117
2023	106,113
Thereafter	689,360
Total minimum lease payments (1)	$	1,278,328

(1) Excludes approximately $372.0 million of sublease income.

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, 2019

	Research		Conferences		Consulting		Total
Primary Geographic Markets: (1), (2)
United States and Canada	$	527,233	$	29,007	$	55,093	$	611,333
Europe, Middle East and Africa	193,955		17,197		29,934		241,086
Other International	104,186		5,728		8,111		118,025
Total revenues	$	825,374	$	51,932	$	93,138	$	970,444

Three Months Ended March 31, 2018

	Research		Conferences		Consulting		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

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

(2)

During 2018, the Company divested all of its non-core businesses that comprised its Other segment and, as a result, the Company is no longer recording any additional operating activity in the Other segment.

Schedule of Disaggregation of Revenue

Three Months Ended March 31, 2019

	Research		Conferences		Consulting		Total
Timing of Revenue Recognition: (1)
Transferred over time (2)	$	752,798	$	—	$	78,957	$	831,755
Transferred at a point in time (3)	72,576		51,932		14,181		138,689
Total revenues	$	825,374	$	51,932	$	93,138	$	970,444

Three Months Ended March 31, 2018

	Research		Conferences		Consulting		Other		Total
Timing of Revenue Recognition:
Transferred over time (2)	$	701,096	$	—	$	74,010	$	58,946	$	834,052
Transferred at a point in time (3)	62,828		46,087		8,886		11,712		129,513
Total revenues	$	763,924	$	46,087	$	82,896	$	70,658	$	963,565

(1) During 2018 the Company divested all of its non-core businesses that comprised its Other segment and, as a result, the Company is no longer recording any additional operating activity in the Other segment.

(2) 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. During 2018, 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.

(3)

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 (in thousands):

	March 31,		December 31,
	2019		2018
Assets:
Fees receivable, gross (1)	$	1,186,559	$	1,262,818
Contract assets recorded in Prepaid expenses and other current assets (2)	$	29,852	$	26,119
Contract liabilities:
Deferred revenues (current liability) (3)	$	1,837,504	$	1,745,244
Non-current deferred revenues recorded in Other liabilities (3)	17,333		21,194
Total contract liabilities	$	1,854,837	$	1,766,438

(1) Fees receivable represent an unconditional right of payment from our customers and include 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 billing milestone or some other billing restriction.

(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).

Lease costs

The table below presents the components of the Company’s net lease cost and certain other information related to the Company’s leasing activities as of and for the three months ended March 31, 2019 (dollars in thousands):

Description:
Three Months Ended March 31, 2019:
Operating lease cost (1)	$	35,469
Variable lease cost (2)	3,975
Sublease income	(10,273		)
Total lease cost, net (3)	$	29,171
Cash paid for amounts included in the measurement of operating lease liabilities	$	32,751
Cash receipts from sublease arrangements	$	7,828
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,386
As of March 31, 2019:
Weighted average remaining lease term for operating leases (in years)	10.84
Weighted average discount rate for operating leases	6.96		%

(1) Included in the operating lease cost was $10.8 million of costs for subleasing activities.

(2) These costs are primarily variable lease and nonlease payments that were not fixed at the lease commencement date or are dependent on something other than an index or a rate.

(3)

The Company did not capitalize any operating lease costs during the three months ended March 31, 2019.

Operating lease maturity schedule

As of March 31, 2019, the (i) maturities of operating lease liabilities under non-cancelable arrangements and (ii) estimated future sublease cash receipts from non-cancelable arrangements were as follows (in thousands):

	Operating			Sublease
	Lease			Cash
Period ending December 31,	Payments			Receipts
2019 (remaining nine months)	$	92,379		$	26,754
2020	119,620			39,742
2021	115,734			41,475
2022	111,757			42,039
2023	107,466			42,953
Thereafter	681,210			171,154
Total future minimum operating lease payments and estimated sublease cash receipts (1)	1,228,166			$	364,117
Imputed interest	(391,715		)
Total per the Condensed Consolidated Balance Sheet	$	836,451

(1)

Approximately 87% of the operating lease payments pertain to properties in the United States.

Supplemental balance sheet information

The table below indicates where the discounted operating lease payments from the above table are classified in the accompanying Condensed Consolidated Balance Sheet as of March 31, 2019 (in thousands):

Description:
Accounts payable and accrued liabilities	$	67,296
Operating leases - liabilities	769,155
Total operating lease liabilities per the Condensed Consolidated Balance Sheet	$	836,451