XML 45 R37.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Revenue (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of disaggregated revenues | The following table presents the Company’s revenues by transaction type based on revenue recognition pattern for the periods presented:
| Three Months Ended September 30, |  |
| 2022 |  | 2021 |  |
Subscription revenues | $ | 408.3 |  |  | $ | 246.5 |  |  |
Re-occurring revenues | 102.7 |  |  | 110.4 |  |  |
Transactional and other revenues | 125.0 |  |  | 85.3 |  |  |
Total revenues, gross | 636.0 |  |  | 442.2 |  |  |
Deferred revenues adjustment(1) | (0.3) |  |  | (0.1) |  |  |
Total revenues, net | $ | 635.7 |  |  | $ | 442.1 |  |  |
(1) Reflects the deferred revenues adjustment made as a result of purchase accounting prior to the adoption of ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In the fourth quarter of 2021, Clarivate adopted ASU No. 2021-08 which allows an acquirer to account for the related revenue contracts in accordance with ASC 606 Revenue from Contracts with Customers, as if it had originated the contracts. This guidance was applied retrospectively to all business combinations for which the acquisition date occurs during or subsequent to 2021.
| Nine Months Ended September 30,
| 2022 |  | 2021(1) |  |
Subscription revenues | $ | 1,220.7 |  |  | $ | 728.9 |  |  |
Re-occurring revenues | 329.2 |  |  | 333.6 |  |  |
Transactional and other revenues | 435.5 |  |  | 258.2 |  |  |
Total revenues, gross | 1,985.4 |  |  | 1,320.7 |  |  |
Deferred revenues adjustment(2) | (0.9) |  |  | (4.5) |  |  |
Total revenues, net | $ | 1,984.5 |  |  | $ | 1,316.2 |  |  |
(1) Certain prior period reported amounts have been reclassified to conform to current period presentation.
(2) Reflects the deferred revenues adjustment made as a result of purchase accounting prior to the adoption of ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In the fourth quarter of 2021, Clarivate adopted ASU No. 2021-08 which allows an acquirer to account for the related revenue contracts in accordance with ASC 606 Revenue from Contracts with Customers, as if it had originated the contracts. This guidance was applied retrospectively to all business combinations for which the acquisition date occurs during or subsequent to 2021.
The following table summarizes revenue by reportable segment for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Academia and Government | $ | 307.1 |  |  | $ | 102.3 |  |  | $ | 951.6 |  |  | $ | 303.3 |
Life Sciences and Healthcare | 103.6 |  |  | 98.5 |  |  | 327.7 |  |  | 291.1 |
Intellectual Property | 225.0 |  |  | 241.3 |  |  | 705.2 |  |  | 721.8 |
Total Revenues, net | $ | 635.7 |  |  | $ | 442.1 |  |  | $ | 1,984.5 |  |  | $ | 1,316.2 |
Schedule of contract balances |
| Accounts receivable, net |  | Current portion of deferred revenues |  | Non-current portion of deferred revenues
Opening (January 1, 2022) | $ | 906.4 |  |  | $ | 1,030.4 |  |  | $ | 54.2 |
Closing (September 30, 2022) | 748.6 |  |  | 857.8 |  |  | 37.7 |
Decrease / (increase) | $ | 157.8 |  |  | $ | 172.6 |  |  | $ | 16.5 |
Opening (January 1, 2021) | $ | 737.7 |  |  | $ | 707.3 |  |  | $ | 41.4 |
Closing (September 30, 2021) | 610.8 |  |  | 579.9 |  |  | 44.9 |
Decrease / (increase) | $ | 126.9 |  |  | $ | 127.4 |  |  | $ | (3.5) |

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration