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Operating Segments | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Operating Segments | Note 12 — Operating Segments The Company’s operations are grouped into three segments: Research, Consulting, and Events. These segments are based on the management structure of the Company and how management uses financial information to evaluate performance and determine how to allocate resources. The Company’s products and services are delivered through each segment as described below. Additionally, the tables below include the reclassification of revenues for the components of the Company’s CV subscription research products, as described further in Note 1: Interim Consolidated Financial Statements. The Research segment includes the revenues from all of the Company’s research products as well as consulting revenues from advisory services (such as speeches and advisory days) delivered by the Company’s research organization. Research segment costs include the cost of the organizations responsible for developing and delivering these products in addition to the costs of the product management organization responsible for product pricing and packaging, and the launch of new products. In May 2021, the Company announced the launch of a new research portfolio called Forrester Decisions, which will be available in August 2021. This new portfolio of products will help executives, functional leaders, and their teams, across technology, marketing, customer experience, sales, and product management, plan ​and pursue initiatives for driving growth. The Forrester Decisions product combines the research, frameworks, models, and methodologies of the Company’s Forrester Research and SiriusDecisions Research product offerings, as well as features of the Company’s Connect and Analytics products. In connection with the launch of Forrester Decisions, the Company will no longer provide disaggregation of revenue by its research products in the segment tables below (refer to Note 5 – Revenue and Related Matters for disclosure of disaggregated revenue). 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. Segment expenses include the direct expenses of each segment organization and exclude 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 on investments. The accounting policies used by the segments are the same as those used in the consolidated financial statements. The Company provides information by reportable segment in the tables below (in thousands):
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 81,002 |  |  | $ | — |  |  | $ | — |  |  | $ | 81,002 |
Consulting revenues |  |  | 12,842 |  |  |  | 28,118 |  |  |  | — |  |  |  | 40,960 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 6,708 |  |  |  | 6,708 |
Total segment revenues |  |  | 93,844 |  |  |  | 28,118 |  |  |  | 6,708 |  |  |  | 128,670 |
Segment expenses |  |  | (29,417 | ) |  |  | (12,851 | ) |  |  | (3,032 | ) |  |  | (45,300 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (66,103 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (3,968 | )
Integration costs |  |  |  |  |  |  |  |  |  |  |  | (216 | )
Interest expense, other expense, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (1,267 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 11,816 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 75,034 |  |  | $ | — |  |  | $ | — |  |  | $ | 75,034 |
Consulting revenues |  |  | 11,928 |  |  |  | 21,547 |  |  |  | — |  |  |  | 33,475 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 5,032 |  |  |  | 5,032 |
Total segment revenues |  |  | 86,962 |  |  |  | 21,547 |  |  |  | 5,032 |  |  |  | 113,541 |
Segment expenses |  |  | (25,870 | ) |  |  | (10,099 | ) |  |  | (3,206 | ) |  |  | (39,175 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (57,810 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (4,713 | )
Integration costs |  |  |  |  |  |  |  |  |  |  |  | (612 | )
Interest expense, other expense, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | 844 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 12,075 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 155,970 |  |  | $ | — |  |  | $ | — |  |  | $ | 155,970 |
Consulting revenues |  |  | 25,573 |  |  |  | 53,937 |  |  |  | — |  |  |  | 79,510 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 6,971 |  |  |  | 6,971 |
Total segment revenues |  |  | 181,543 |  |  |  | 53,937 |  |  |  | 6,971 |  |  |  | 242,451 |
Segment expenses |  |  | (60,134 | ) |  |  | (25,176 | ) |  |  | (3,746 | ) |  |  | (89,056 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (124,571 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (7,871 | )
Integration costs |  |  |  |  |  |  |  |  |  |  |  | (334 | )
Interest expense, other expense and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (2,866 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 17,753 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 149,301 |  |  | $ | — |  |  | $ | — |  |  | $ | 149,301 |
Consulting revenues |  |  | 24,510 |  |  |  | 40,953 |  |  |  | — |  |  |  | 65,463 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 5,122 |  |  |  | 5,122 |
Total segment revenues |  |  | 173,811 |  |  |  | 40,953 |  |  |  | 5,122 |  |  |  | 219,886 |
Segment expenses |  |  | (53,334 | ) |  |  | (20,120 | ) |  |  | (3,883 | ) |  |  | (77,337 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (117,685 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (9,425 | )
Integration costs |  |  |  |  |  |  |  |  |  |  |  | (3,487 | )
Interest expense, other income, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (371 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 11,581 |

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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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