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Operating Segment and Enterprise Wide Reporting | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Operating Segment and Enterprise Wide Reporting | Note 13 – Operating Segment and Enterprise Wide Reporting The Company’s chief operating decision-maker (used in determining the Company’s segments) is the chief executive officer and the chief financial officer. The Company operates in three segments: Research, Consulting, and Events. These segments, which are also the Company's reportable segments, are based on the management structure of the Company and how the chief operating decision maker 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. 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. 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. As of January 1, 2022, the Company realigned its events sales costs from selling and marketing expense to the Events segment as they now fall under the Events management structure. The 2021 and 2020 amounts have been revised to conform to the current presentation. 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 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, restructuring and integration costs, interest and other income (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 does not review or evaluate assets as part of segment performance. Accordingly, the Company does not identify or allocate assets by reportable segment. The Company provides information by reportable segment in the tables below (in thousands):
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 354,453 |  |  | $ | — |  |  | $ | — |  |  | $ | 354,453 |
Consulting revenues |  |  | 41,559 |  |  |  | 111,028 |  |  |  | — |  |  |  | 152,587 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 30,747 |  |  |  | 30,747 |
Total segment revenues |  |  | 396,012 |  |  |  | 111,028 |  |  |  | 30,747 |  |  |  | 537,787 |
Segment expenses |  |  | (133,566 | ) |  |  | (56,889 | ) |  |  | (21,801 | ) |  |  | (212,256 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (270,381 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (13,161 | )
Restructuring costs |  |  |  |  |  |  |  |  |  |  |  | (9,335 | )
Interest expense, other income, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (1,930 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 30,724 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 325,340 |  |  | $ | — |  |  | $ | — |  |  | $ | 325,340 |
Consulting revenues |  |  | 47,247 |  |  |  | 108,867 |  |  |  | — |  |  |  | 156,114 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 12,861 |  |  |  | 12,861 |
Total segment revenues |  |  | 372,587 |  |  |  | 108,867 |  |  |  | 12,861 |  |  |  | 494,315 |
Segment expenses |  |  | (118,155 | ) |  |  | (51,770 | ) |  |  | (12,709 | ) |  |  | (182,634 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (257,576 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (15,129 | )
Integration costs |  |  |  |  |  |  |  |  |  |  |  | (334 | )
Interest expense, other expense, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (5,451 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 33,191 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 301,544 |  |  | $ | — |  |  | $ | — |  |  | $ | 301,544 |
Consulting revenues |  |  | 50,406 |  |  |  | 86,897 |  |  |  | — |  |  |  | 137,303 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 10,137 |  |  |  | 10,137 |
Total segment revenues |  |  | 351,950 |  |  |  | 86,897 |  |  |  | 10,137 |  |  |  | 448,984 |
Segment expenses |  |  | (110,843 | ) |  |  | (40,168 | ) |  |  | (11,221 | ) |  |  | (162,232 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (245,115 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (19,683 | )
Integration costs |  |  |  |  |  |  |  |  |  |  |  | (5,779 | )
Interest expense, other expense, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (3,242 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 12,933 |
Net long-lived tangible assets by location as of December 31, 2022 and 2021 are as follows (in thousands):
|  | 2022 |  |  | 2021 |
United States |  | $ | 60,631 |  |  | $ | 76,966 |
United Kingdom |  |  | 8,678 |  |  |  | 10,667 |
Europe (excluding United Kingdom) |  |  | 319 |  |  |  | 316 |
Asia Pacific |  |  | 3,550 |  |  |  | 5,305 |
Total |  | $ | 73,178 |  |  | $ | 93,254 |
Revenues by geographic destination, based on the location products and services are consumed, and as a percentage of total revenues for the years ended December 31, 2022, 2021, and 2020 are as follows (dollars in thousands):
|  | 2022 |  |  | 2021 |  |  | 2020 |
United States |  | $ | 426,041 |  |  | $ | 381,662 |  |  | $ | 356,288 |
Europe (excluding United Kingdom) |  |  | 36,664 |  |  |  | 41,264 |  |  |  | 34,897 |
United Kingdom |  |  | 20,079 |  |  |  | 21,913 |  |  |  | 15,741 |
Canada |  |  | 20,759 |  |  |  | 17,213 |  |  |  | 14,005 |
Asia Pacific |  |  | 26,548 |  |  |  | 26,768 |  |  |  | 22,969 |
Other |  |  | 7,696 |  |  |  | 5,495 |  |  |  | 5,084 |
Total |  | $ | 537,787 |  |  | $ | 494,315 |  |  | $ | 448,984 |
|  | 2022 |  |  | 2021 |  |  | 2020 |
United States |  |  | 79 | % |  |  | 77 | % |  |  | 79 | %
Europe (excluding United Kingdom) |  |  | 7 |  |  |  | 9 |  |  |  | 8 |
United Kingdom |  |  | 4 |  |  |  | 5 |  |  |  | 4 |
Canada |  |  | 4 |  |  |  | 3 |  |  |  | 3 |
Asia Pacific |  |  | 5 |  |  |  | 5 |  |  |  | 5 |
Other |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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