XML 42 R7.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Interim Consolidated Financial Statements | 9 Months Ended
--- | ---
Sep. 30, 2014
Accounting Policies [Abstract] |
Interim Consolidated Financial Statements | Note 1 — Interim Consolidated Financial Statements Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Forrester Research, Inc. (“Forrester”) Annual Report on Form 10-K for the year ended December 31, 2013. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the financial position, results of operations, of comprehensive income and of cash flows as of the dates and for the periods presented have been included. The results of operations for the three and nine months ended September 30, 2014 may not be indicative of the results for the year ending December 31, 2014, or any other period. During the quarter ended March 31, 2014, the Company recorded $0.5 million of expenses for out-of-period corrections, of which $0.4 million related to depreciation and $0.1 million related to other immaterial amounts that related to prior periods. The Company has concluded that these errors are immaterial to all prior period financial statements. Fair Value Measurements The carrying amounts reflected in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. See Note 3 – Marketable Investments for the fair value of the Company’s marketable investments. Revision of quarterly financial statements During the quarter ended December 31, 2013, the Company identified an immaterial prior period error of $0.1 million that had the effect of decreasing income tax expense for the three and nine months ended September 30, 2013. The Company has reflected in the financial information included in this Note the correction of this error in the period in which it originated (in thousands except per share amounts). Revised Consolidated Statements of Income
|  | Three Months Ended September 30, 2013 |  |  | Nine Months Ended September 30, 2013 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Revised |  |  | As Previously Reported |  |  | Adjustments |  |  | As Revised |
Income tax provision |  |  | 1,813 |  |  |  | (74 | ) |  |  | 1,739 |  |  |  | 7,056 |  |  |  | (74 | ) |  |  | 6,982 |
Net income |  | $ | 2,435 |  |  | $ | 74 |  |  | $ | 2,509 |  |  | $ | 10,789 |  |  | $ | 74 |  |  | $ | 10,863 |
Basic income per common share |  | $ | 0.12 |  |  | $ | — |  |  | $ | 0.12 |  |  | $ | 0.51 |  |  | $ | — |  |  | $ | 0.51 |
Diluted income per common share |  | $ | 0.12 |  |  | $ | — |  |  | $ | 0.12 |  |  | $ | 0.50 |  |  | $ | — |  |  | $ | 0.50 |
Revised Consolidated Statements of Comprehensive Income The consolidated statement of comprehensive income for the three and nine months ended September 30, 2013 is impacted by the same amount as net income for the period. Revised Consolidated Statement of Cash Flows
|  | Nine Months Ended September 30, 2013 |
|  | As |  |  |  |  |  |  |
|  | Previously |  |  |  |  |  | As |
|  | Reported |  |  | Adjustments |  |  | Revised |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,789 |  |  | $ | 74 |  |  | $ | 10,863 |
Prepaid expenses and other current assets |  |  | 3,683 |  |  |  | (74 | ) |  |  | 3,609 |
Net cash provided by operating activities |  |  | 32,352 |  |  |  | — |  |  |  | 32,352 |

X
- Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35735333&loc=d3e288-107754 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 915 -SubTopic 235 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755 + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration