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Stockholders' Equity | 3 Months Ended
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Mar. 31, 2019
Equity [Abstract] |
Stockholders' Equity | Note 10 — Stockholders’ Equity The components of stockholders’ equity are as follows (in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
| Common Stock |  |  | Additional |  |  |  |  |  |  | Treasury Stock |  |  | Other |  |  |  |  |
| Number of |  |  | $0.01 Par |  |  | Paid-in |  |  | Retained |  |  | Number of |  |  |  |  |  |  | Comprehensive |  |  | Total |
| Shares |  |  | Value |  |  | Capital |  |  | Earnings |  |  | Shares |  |  | Cost |  |  | Income (Loss) |  |  | Equity |
Balance at January 1, 2019 |  | 22,951 |  |  | $ | 230 |  |  | $ | 200,696 |  |  | $ | 127,717 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (5,154 | ) |  | $ | 151,600 |
Issuance of common stock under stock plans |  | 99 |  |  |  | 1 |  |  |  | 3,274 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,275 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 2,685 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,685 |
Net loss |  | — |  |  |  | — |  |  |  | — |  |  |  | (13,316 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13,316 | )
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (430 | ) |  |  | (430 | )
Balance at March 31, 2019 |  | 23,050 |  |  | $ | 231 |  |  | $ | 206,655 |  |  | $ | 114,401 |  |  |  | 4,631 |  |  | $ | (171,889 | ) |  | $ | (5,584 | ) |  | $ | 143,814 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
| Common Stock |  |  | Additional |  |  |  |  |  |  | Treasury Stock |  |  | Other |  |  |  |  |
| Number of |  |  | $0.01 Par |  |  | Paid-in |  |  | Retained |  |  | Number of |  |  |  |  |  |  | Comprehensive |  |  | Total |
| Shares |  |  | Value |  |  | Capital |  |  | Earnings |  |  | Shares |  |  | Cost |  |  | Income (Loss) |  |  | Equity |
Balance at January 1, 2018 |  | 22,432 |  |  | $ | 224 |  |  | $ | 181,910 |  |  | $ | 123,010 |  |  |  | 4,391 |  |  | $ | (161,943 | ) |  | $ | (2,012 | ) |  | $ | 141,189 |
Issuance of common stock under stock plans |  | 82 |  |  |  | 1 |  |  |  | 2,462 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,463 |
Cumulative effect adjustment due to adoption of new accounting pronouncements |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,829 |  |  |  | — |  |  |  | — |  |  |  | (26 | ) |  |  | 3,803 |
Stock-based compensation expense |  | — |  |  |  | — |  |  |  | 1,963 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,963 |
Repurchases of common stock |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 106 |  |  |  | (4,367 | ) |  |  | — |  |  |  | (4,367 | )
Dividends paid on common shares |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,611 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,611 | )
Net loss |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,733 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,733 | )
Net change in marketable investments, net of tax |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (115 | ) |  |  | (115 | )
Foreign currency translation |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,703 |  |  |  | 1,703 |
Balance at March 31, 2018 |  | 22,514 |  |  | $ | 225 |  |  | $ | 186,335 |  |  | $ | 121,495 |  |  |  | 4,497 |  |  | $ | (166,310 | ) |  | $ | (450 | ) |  | $ | 141,295 |
Equity Plans Restricted stock unit activity for the three months ended March 31, 2019 is presented below (in thousands, except per share data):
|  |  |  |  |  | Weighted- |
|  |  |  |  |  | Average |
|  | Number of |  |  | Grant Date |
|  | Shares |  |  | Fair Value |
Unvested at December 31, 2018 |  |  | 497 |  |  | $ | 40.89 |
Granted |  |  | 162 |  |  |  | 44.88 |
Vested |  |  | (11 | ) |  |  | 40.38 |
Forfeited |  |  | (11 | ) |  |  | 41.94 |
Unvested at March 31, 2019 |  |  | 637 |  |  | $ | 41.89 |
Stock option activity for the three months ended March 31, 2019 is presented below (in thousands, except per share data and contractual term):
|  |  |  |  |  | Weighted - |  |  | Weighted - |  |  |  |  |
|  |  |  |  |  | Average |  |  | Average |  |  |  |  |
|  |  |  |  |  | Exercise |  |  | Remaining |  |  | Aggregate |
|  | Number |  |  | Price Per |  |  | Contractual |  |  | Intrinsic |
|  | of Shares |  |  | Share |  |  | Term (in years) |  |  | Value |
Outstanding at December 31, 2018 |  |  | 583 |  |  | $ | 35.27 |  |  |  |  |  |  |  |  |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  |  | (67 | ) |  |  | 34.99 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (1 | ) |  |  | 33.16 |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2019 |  |  | 515 |  |  | $ | 35.31 |  |  |  | 4.72 |  |  | $ | 6,721 |
Exercisable at March 31, 2019 |  |  | 438 |  |  | $ | 35.48 |  |  |  | 4.38 |  |  | $ | 5,639 |
Vested and expected to vest at March 31, 2019 |  |  | 515 |  |  | $ | 35.31 |  |  |  | 4.72 |  |  | $ | 6,721 |
Stock-Based Compensation Forrester recognizes the fair value of stock-based compensation in net income (loss) over the requisite service period of the individual grantee, which generally equals the vesting period. Stock-based compensation was recorded in the following expense categories (in thousands):
|  | Three Months Ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Cost of services and fulfillment |  | $ | 1,463 |  |  | $ | 1,020 |
Selling and marketing |  |  | 440 |  |  |  | 244 |
General and administrative |  |  | 782 |  |  |  | 699 |
Total |  | $ | 2,685 |  |  | $ | 1,963 |
Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions:
|  | Three Months Ended |
|  | March 31, |
|  | 2019 |  |  | 2018 |
Average risk-free interest rate |  |  | 2.51 | % |  |  | 1.92 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 2.0 | %
Expected life |  | 0.5 Years |  |  | 0.5 Years |
Expected volatility |  |  | 34 | % |  |  | 22 | %
Weighted average fair value |  | $ | 12.50 |  |  | $ | 8.49 |
Dividends As a result of the acquisition of SiriusDecisions on January 3, 2019 and the related debt incurred to fund the acquisition, the Company suspended its dividend program in November 2018. Accordingly, the Company did not declare or pay any dividend in the three months ended March 31, 2019. In the three months ended March 31, 2018, the Company declared and paid dividends of $0.20 per share or $3.6 million in the aggregate. Treasury Stock As of March 31, 2019, Forrester’s Board of Directors had authorized an aggregate $535.0 million to purchase common stock under its stock repurchase program. The shares repurchased may be used, among other things, in connection with Forrester’s equity incentive and purchase plans. In the three months ended March 31, 2019, the Company did not repurchase any shares of common stock. In the three months ended March 31, 2018, the Company repurchased approximately 0.1 million shares of common stock at an aggregate cost of approximately $4.4 million. From the inception of the program through March 31, 2019, the Company repurchased 16.3 million shares of common stock at an aggregate cost of $474.9 million.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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