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Operating Segments | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Operating Segments | Note 14 — Operating Segments As described in the Company’s Form 8-K filed on April 2, 2020, Forrester’s Chief Product Officer resigned from the Company effective April 17, 2020. Subsequently, the Chief Product Officer position was eliminated and the Company reorganized its operations to reflect three lines of business: Research, Consulting, and Events. As a result of these changes, during the three months ended June 30, 2020, the Company realigned its internal reporting into Research, Consulting, and Events. The realignment eliminated the Products segment as the product lines and organizations supporting the related revenues began operating under the new management structure. The prior period amounts have been revised to conform to the current presentation. The Research segment includes the revenues of the Research, Connect and Analytics products and the cost of the organizations responsible for developing and delivering these products. In addition, this segment includes Consulting revenues from advisory services (such as workshops, speeches and advisory days) delivered by the Company’s research and analytics analysts. The costs of the product management organization responsible for product pricing and packaging, and the launch of new products, is included in this segment. The Consulting segment includes the revenues and the related costs of the Company’s project consulting organization. The project consulting organization delivers a majority of the Company’s project consulting revenue and certain advisory services. The Events segment includes the revenues and the costs of the organization responsible for developing and hosting in-person and virtual events. The Company evaluates reportable segment performance and allocates resources based on segment revenues and expenses. Segment expenses include the direct expenses of each segment organization and excludes selling and marketing expenses, general and administrative expenses, stock-based compensation expense, depreciation expense, adjustments to incentive bonus compensation from target amounts, amortization of intangible assets, interest and other expense, and gains (losses) on investments. The accounting policies used by the segments are the same as those used in the consolidated financial statements. The Company provides disaggregated revenue by product in the segment tables below (in thousands):
|  | Research |  |  | Consulting |  |  | Events |  |  | Consolidated |
Three Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research |  | $ | 54,107 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,107 |
Connect |  |  | 13,710 |  |  |  | — |  |  |  | — |  |  |  | 13,710 |
Analytics |  |  | 4,996 |  |  |  | — |  |  |  | — |  |  |  | 4,996 |
Total research revenues |  |  | 72,813 |  |  |  | — |  |  |  | — |  |  |  | 72,813 |
Consulting |  |  | 13,372 |  |  |  | 21,261 |  |  |  | — |  |  |  | 34,633 |
Events |  |  | — |  |  |  | — |  |  |  | 1,131 |  |  |  | 1,131 |
Total segment revenues |  |  | 86,185 |  |  |  | 21,261 |  |  |  | 1,131 |  |  |  | 108,577 |
Segment expenses |  |  | (28,645 | ) |  |  | (9,646 | ) |  |  | (1,284 | ) |  |  | (39,575 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (63,778 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,722 | )
Acquisition and integration costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (328 | )
Interest expense, other expense and gains on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,533 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,359 | )
|  | Research |  |  | Consulting |  |  | Events |  |  | Consolidated |
Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research |  | $ | 55,022 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,022 |
Connect |  |  | 14,257 |  |  |  | — |  |  |  | — |  |  |  | 14,257 |
Analytics |  |  | 5,269 |  |  |  | — |  |  |  | — |  |  |  | 5,269 |
Total research revenues |  |  | 74,548 |  |  |  | — |  |  |  | — |  |  |  | 74,548 |
Consulting |  |  | 13,357 |  |  |  | 19,262 |  |  |  | — |  |  |  | 32,619 |
Events |  |  | — |  |  |  | — |  |  |  | 1,429 |  |  |  | 1,429 |
Total segment revenues |  |  | 87,905 |  |  |  | 19,262 |  |  |  | 1,429 |  |  |  | 108,596 |
Segment expenses |  |  | (28,632 | ) |  |  | (9,299 | ) |  |  | (1,733 | ) |  |  | (39,664 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (62,524 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,654 | )
Acquisition and integration costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,394 | )
Interest expense, other income and losses on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,794 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (3,434 | )
|  | Research |  |  | Consulting |  |  | Events |  |  | Consolidated |
Nine Months Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research |  | $ | 163,071 |  |  | $ | — |  |  | $ | — |  |  | $ | 163,071 |
Connect |  |  | 40,677 |  |  |  | — |  |  |  | — |  |  |  | 40,677 |
Analytics |  |  | 15,482 |  |  |  | — |  |  |  | — |  |  |  | 15,482 |
Total research revenues |  |  | 219,230 |  |  |  | — |  |  |  | — |  |  |  | 219,230 |
Consulting |  |  | 40,749 |  |  |  | 62,231 |  |  |  | — |  |  |  | 102,980 |
Events |  |  | — |  |  |  | — |  |  |  | 6,253 |  |  |  | 6,253 |
Total segment revenues |  |  | 259,979 |  |  |  | 62,231 |  |  |  | 6,253 |  |  |  | 328,463 |
Segment expenses |  |  | (81,979 | ) |  |  | (29,766 | ) |  |  | (5,167 | ) |  |  | (116,912 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (181,463 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,147 | )
Acquisition and integration costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,815 | )
Interest expense, other expense and gains on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,904 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 10,222 |
|  | Research |  |  | Consulting |  |  | Events |  |  | Consolidated |
Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research |  | $ | 161,107 |  |  | $ | — |  |  | $ | — |  |  | $ | 161,107 |
Connect |  |  | 41,895 |  |  |  | — |  |  |  | — |  |  |  | 41,895 |
Analytics |  |  | 16,434 |  |  |  | — |  |  |  | — |  |  |  | 16,434 |
Total research revenues |  |  | 219,436 |  |  |  | — |  |  |  | — |  |  |  | 219,436 |
Consulting |  |  | 42,768 |  |  |  | 55,654 |  |  |  | — |  |  |  | 98,422 |
Events |  |  | — |  |  |  | — |  |  |  | 19,570 |  |  |  | 19,570 |
Total segment revenues |  |  | 262,204 |  |  |  | 55,654 |  |  |  | 19,570 |  |  |  | 337,428 |
Segment expenses |  |  | (89,780 | ) |  |  | (28,207 | ) |  |  | (13,398 | ) |  |  | (131,385 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (189,134 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (16,963 | )
Acquisition and integration costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,848 | )
Interest expense, other expense and losses on investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,631 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (14,533 | )

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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