Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of segment reporting information, by segment

The tables below present information about the Company’s reportable segments for the periods indicated (in thousands).


Three Months Ended September 30, 2022	Research		Conferences		Consulting		Consolidated
Revenues	$	1,147,823	$	77,031	$	107,014	$	1,331,868
Gross contribution	848,438		40,318		37,213		925,969
Corporate and other expenses							(672,551)
Operating income							$	253,418

Three Months Ended September 30, 2021	Research		Conferences		Consulting		Consolidated
Revenues	$	1,037,124	$	24,415	$	94,743	$	1,156,282
Gross contribution	769,091		11,456		30,972		811,519
Corporate and other expenses							(581,298)
Operating income							$	230,221


Nine Months Ended September 30, 2022	Research		Conferences		Consulting		Consolidated
Revenues	$	3,426,532	$	200,910	$	343,687	$	3,971,129
Gross contribution	2,541,782		110,968		138,448		2,791,198
Corporate and other expenses							(2,023,411)
Operating income							$	767,787


Nine Months Ended September 30, 2021	Research		Conferences		Consulting		Consolidated
Revenues	$	3,020,094	$	107,396	$	300,149	$	3,427,639
Gross contribution	2,235,594		67,954		112,840		2,416,388
Corporate and other expenses							(1,686,041)
Operating income							$	730,347

Schedule of reconciliation of segment gross contribution to net income

The table below provides a reconciliation of total segment gross contribution to net income for the periods indicated (in thousands).


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Total segment gross contribution	$	925,969	$	811,519	$	2,791,198	$	2,416,388
Costs and expenses:
Cost of services and product development - unallocated (1)	10,938		14,474		38,474		33,255
Selling, general and administrative	613,031		512,573		1,835,846		1,488,324
Depreciation and amortization	47,251		52,480		143,264		160,749
Acquisition and integration charges	1,331		1,771		5,827		3,713
Operating income	253,418		230,221		767,787		730,347
Interest expense and other, net	(21,356)		(31,388)		(44,715)		(73,119)
Gain on event cancellation insurance claims	—		—		—		135,545

Less: Provision for income taxes	58,517		49,968		172,087		208,572
Net income	$	173,545	$	148,865	$	550,985	$	584,201

(1)The unallocated amounts consist of certain bonus and fringe costs recorded in consolidated Cost of services and product development that are not allocated to segment expense. The Company’s policy is to allocate bonuses to segments at 100% of a segment employee’s target bonus. Amounts above or below 100% are absorbed by corporate.