| Schedule of Information about Reportable Segments |
The following tables present information about reportable segments (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Project |
|
|
|
|
|
|
|
|
Product |
|
|
Research |
|
|
Consulting |
|
|
Consolidated |
|
|
Year Ended December 31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research services revenues |
|
$ |
215,216 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
215,216 |
|
|
Advisory services and events revenues |
|
|
20,374 |
|
|
|
45,601 |
|
|
|
44,904 |
|
|
|
110,879 |
|
|
Total segment revenues |
|
|
235,590 |
|
|
|
45,601 |
|
|
|
44,904 |
|
|
|
326,095 |
|
|
Segment expenses |
|
|
41,528 |
|
|
|
51,132 |
|
|
|
26,647 |
|
|
|
119,307 |
|
|
Contribution margin (loss) |
|
|
194,062 |
|
|
|
(5,531 |
) |
|
|
18,257 |
|
|
|
206,788 |
|
|
Selling, marketing, administrative and other expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(174,157 |
) |
|
Amortization of intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(831 |
) |
|
Reorganization costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,026 |
) |
|
Other income and losses on investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(65 |
) |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
30,709 |
|
|
|
|
|
|
|
|
|
|
|
|
Project |
|
|
|
|
|
|
|
|
Product |
|
|
Research |
|
|
Consulting |
|
|
Consolidated |
|
|
Year Ended December 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research services revenues |
|
$ |
210,268 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
210,268 |
|
|
Advisory services and events revenues |
|
|
17,512 |
|
|
|
42,997 |
|
|
|
42,949 |
|
|
|
103,458 |
|
|
Total segment revenues |
|
|
227,780 |
|
|
|
42,997 |
|
|
|
42,949 |
|
|
|
313,726 |
|
|
Segment expenses |
|
|
38,615 |
|
|
|
51,510 |
|
|
|
27,320 |
|
|
|
117,445 |
|
|
Contribution margin (loss) |
|
|
189,165 |
|
|
|
(8,513 |
) |
|
|
15,629 |
|
|
|
196,281 |
|
|
Selling, marketing, administrative and other expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(172,130 |
) |
|
Amortization of intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(891 |
) |
|
Reorganization costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,433 |
) |
|
Other income and losses on investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
493 |
|
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
19,320 |
|
|
|
|
|
|
|
|
|
|
|
|
Project |
|
|
|
|
|
|
|
|
Product |
|
|
Research |
|
|
Consulting |
|
|
Consolidated |
|
|
Year Ended December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research services revenues |
|
$ |
207,517 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
207,517 |
|
|
Advisory services and events revenues |
|
|
20,759 |
|
|
|
48,658 |
|
|
|
35,128 |
|
|
|
104,545 |
|
|
Total segment revenues |
|
|
228,276 |
|
|
|
48,658 |
|
|
|
35,128 |
|
|
|
312,062 |
|
|
Segment expenses |
|
|
39,466 |
|
|
|
53,307 |
|
|
|
27,236 |
|
|
|
120,009 |
|
|
Contribution margin (loss) |
|
|
188,810 |
|
|
|
(4,649 |
) |
|
|
7,892 |
|
|
|
192,053 |
|
|
Selling, marketing, administrative and other expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(169,852 |
) |
|
Amortization of intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,171 |
) |
|
Reorganization costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,817 |
) |
|
Other income and losses on investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
176 |
|
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
18,389 |
|
|
| Schedule of Revenues by Geographic Destination and as a Percentage of Total Revenues |
Revenues by geographic destination and as a percentage of total revenues for the years ended December 31, 2016, 2015, and 2014 are as follows (dollars in thousands):
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
United States |
|
$ |
252,222 |
|
|
$ |
241,025 |
|
|
$ |
232,440 |
|
|
Europe (excluding United Kingdom) |
|
|
27,061 |
|
|
|
24,607 |
|
|
|
30,257 |
|
|
United Kingdom |
|
|
14,808 |
|
|
|
16,815 |
|
|
|
16,804 |
|
|
Canada |
|
|
13,806 |
|
|
|
14,424 |
|
|
|
17,089 |
|
|
Other |
|
|
18,198 |
|
|
|
16,855 |
|
|
|
15,472 |
|
|
Total |
|
$ |
326,095 |
|
|
$ |
313,726 |
|
|
$ |
312,062 |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
United States |
|
|
77 |
% |
|
|
77 |
% |
|
|
74 |
% |
|
Europe (excluding United Kingdom) |
|
|
8 |
% |
|
|
8 |
% |
|
|
10 |
% |
|
United Kingdom |
|
|
5 |
% |
|
|
5 |
% |
|
|
5 |
% |
|
Canada |
|
|
4 |
% |
|
|
5 |
% |
|
|
6 |
% |
|
Other |
|
|
6 |
% |
|
|
5 |
% |
|
|
5 |
% |
|
Total |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
|