0000950170-24-028381 | 10-K | XBRL Viewer

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Summary of Significant Accounting Policies - Summary of End-of-period Cash and Cash Equivalents and Cash, Cash Equivalents and Restricted Cash from Financial Statements (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents shown in balance sheets	$ 72,909	$ 103,629
Restricted cash, non-current	$ 2,133	$ 2,025
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Cash, cash equivalents and restricted cash shown in statement of cash flows	$ 75,042	$ 105,654

Operating Segment and Enterprise Wide Reporting - Schedule of Information by Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 480,779	$ 537,787	$ 494,315
Segment expenses	(198,029)	(212,256)	(182,634)
Selling, marketing, administrative and other expenses	(250,756)	(270,381)	(257,576)
Amortization of intangible assets	(11,956)	(13,161)	(15,129)
Restructuring costs	(13,272)	(9,335)	0
Integration costs	0	0	(334)
Interest expense, other income, and gains on investments	(481)	(1,930)	(5,451)
Income before income taxes	6,285	30,724	33,191
Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	363,222	396,012	372,587
Segment expenses	(132,444)	(133,566)	(118,155)
Consulting Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	89,402	111,028	108,867
Segment expenses	(45,028)	(56,889)	(51,770)
Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	28,155	30,747	12,861
Segment expenses	(20,557)	(21,801)	(12,709)
Research [Member]
Segment Reporting Information [Line Items]
Total revenues	334,396	354,453	325,340
Research [Member] \| Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	334,396	354,453	325,340
Research [Member] \| Consulting Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0	0
Research [Member] \| Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0	0
Consulting [Member]
Segment Reporting Information [Line Items]
Total revenues	118,228	152,587	156,114
Consulting [Member] \| Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	28,826	41,559	47,247
Consulting [Member] \| Consulting Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	89,402	111,028	108,867
Consulting [Member] \| Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0	0
Events [Member]
Segment Reporting Information [Line Items]
Total revenues	28,155	30,747	12,861
Events [Member] \| Research Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0	0
Events [Member] \| Consulting Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0	0
Events [Member] \| Events Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 28,155	$ 30,747	$ 12,861

Income Taxes - Components of Deferred Income Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Non-deductible reserves and accruals	$ 3,077	$ 2,736
Net operating loss and other carryforwards	6,262	6,215
Stock compensation	2,676	2,051
Depreciation and amortization	435	0
Lease liability	12,276	17,715
Gross deferred tax asset	24,726	28,717
Less - valuation allowance	(1,065)	(989)	$ (1,114)	$ (1,237)
Sub-total	23,661	27,728
Other liabilities	(733)	(807)
Depreciation and amortization	0	(1,023)
Goodwill and intangible assets	(15,181)	(18,648)
Operating lease right-of-use assets	(9,163)	(13,705)
Deferred commissions	(6,545)	(6,913)
Net deferred tax liability	$ (7,961)	$ (13,368)

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 3,050	$ 21,806	$ 24,844
Other comprehensive income (loss), net of tax:
Foreign currency translation	3,248	(4,807)	(3,083)
Net change in market value of interest rate swap	0	212	609
Net change in market value of investments	99	(134)	(25)
Other comprehensive income (loss)	3,347	(4,729)	(2,499)
Comprehensive income	$ 6,397	$ 17,077	$ 22,345

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Note 5 – Leases

The components of lease expense were as follows (in thousands):


	Year Ended			Year Ended			Year Ended
	December 31, 2023			December 31, 2022			December 31, 2021
Operating lease cost	$	12,671		$	14,284		$	15,527
Short-term lease cost		981			754			439
Variable lease cost		4,394			5,416			5,582
Sublease income		(521	)		(746	)		(549	)
Total lease cost	$	17,525		$	19,708		$	20,999

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):


	Year Ended			Year Ended
	December 31, 2023			December 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	13,839		$	12,939
Operating ROU assets obtained in exchange for lease obligations	$	1,110		$	323
Weighted-average remaining lease term - operating leases (years)		4.3			5.1
Weighted-average discount rate - operating leases		4.3	%		4.3	%

Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of December 31, 2023 are as follows (in thousands):


	Operating Lease			Sublease
	Payments			Cash Receipts
2024	$	16,001		$	624
2025		13,899			—
2026		12,344			—
2027		5,724			—
2028		2,889			—
Thereafter		6,049			—
Total lease payments		56,906		$	624
Less imputed interest		(5,052	)
Present value of lease liabilities	$	51,854

Lease balances are as follows (in thousands):


	As of
	December 31, 2023
Operating lease ROU assets	$	39,722

Short-term operating lease liabilities (1)	$	14,181
Non-current operating lease liabilities		37,673
Total operating lease liabilities	$	51,854

(1)

Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

The Company’s leases do not contain residual value guarantees, material restrictions or covenants. During the year ended December 31, 2021, the Company subleased one of its facilities in San Francisco, California. The sublease agreement expires in 2024 and (i) does not include renewal and termination options, (ii) provides for customary escalations of lease payments in the normal course of business, and (iii) grants the subtenant certain allowances, such as free rent.

During the year ended December 31, 2023, the Company recorded $1.9 million of ROU asset impairments and accelerated amortization and $0.7 million of leasehold improvements impairments related to closing various offices. During the year ended December 31, 2022, the Company recorded $3.7 million of ROU asset impairments and $1.3 million of leasehold improvement impairments related to closing one floor of its offices located at 150 Spear Street, San Francisco, California. The space had been vacant prior to the Company electing to permanently reduce its office space. The impairments and accelerated amortization are included in restructuring costs in the Consolidated Statements of Operations. The leasehold improvements were originally recorded in property and equipment, net in the Consolidated Balance Sheets. As a result of the impairments, the ROU asset and leasehold improvements were required to be recorded at their estimated fair value as Level 3 non-financial assets. The fair value of the asset group was determined using a discounted cash flow model, which required the use of estimates, including projected cash flows for the related assets, the selection of a discount rate used in the model, and regional real estate industry data. The fair value of the asset group was allocated to the ROU asset and leasehold improvements based on their relative carrying values.

The Company did not have any lease impairments or abandonments during 2021.

Operating Segment and Enterprise Wide Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	3

Certain Balance Sheet Accounts - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Amortization of capitalized internal use software costs	$ 4.7	$ 4.8	$ 4.6

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended
	Feb. 29, 2024	May 31, 2023	Jan. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Reduction of Workforce Period Percent	3.00%	8.00%	4.00%
Restructuring Charges		$ 2.3		$ 5.0
Subsequent Event
Subsequent Event [Line Items]
Reduction of Workforce Period Percent	3.00%
Restructuring Charges	$ 3.8
Subsequent Event \| Minimum
Subsequent Event [Line Items]
Anticipates Total Costs	7.3
Subsequent Event \| Maximum
Subsequent Event [Line Items]
Anticipates Total Costs	$ 7.7

Restructuring - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended			3 Months Ended			12 Months Ended
	Feb. 29, 2024	May 31, 2023	Jan. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Severance And Related Costs				$ 7.5	$ 0.6	$ 4.3	$ 0.7
Restructuring Charges		$ 2.3				5.0
ROU asset impairments and accelerated amortization		1.3				3.7
Leasehold impairments		$ 0.6				$ 1.3
Reduction of Workforce Period Percent	3.00%	8.00%	4.00%
Contract termination cost		$ 0.7
Restructuring Reserve							1.3
California [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0.4		$ 0.4
Capitalized software project writeoff value					$ 0.6

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	As of December 31, 2023
	Level 1		Level 2		Total
Assets:
Money market funds (1)	$	55,128	$	—	$	55,128
Marketable investments (3)		—		19,970		19,970
Total Assets	$	55,128	$	19,970	$	75,098


	As of December 31, 2022
	Level 1		Level 2		Total
Assets:
Money market funds (2)	$	5,800	$	—	$	5,800
Marketable investments (3)		—		19,688		19,688
Total Assets	$	5,800	$	19,688	$	25,488

(1)

U.S. based funds of $23.5 million are included in cash and cash equivalents and non-U.S. based funds of $31.6 million included in marketable investments in the Consolidated Balance Sheets.

(2)

Represents U.S. based funds and are included in cash and cash equivalents in the Consolidated Balance Sheets.

(3)

Marketable investments have been initially valued at the transaction price and subsequently valued, at the end of the reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

Certain Balance Sheet Accounts - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Payables and Accruals [Abstract]

Payroll and related benefits

$ 43,426

$ 53,581

Taxes

4,680

5,823

Lease liability

14,181

^[1]

13,632

Other

19,195

17,971

Total

$ 81,482

$ 91,007

[1]	Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Leases - Summary of Components of Lease Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 12,671	$ 14,284	$ 15,527
Short-term lease cost	981	754	439
Variable lease cost	4,394	5,416	5,582
Sublease income	(521)	(746)	(549)
Total lease cost	$ 17,525	$ 19,708	$ 20,999

Summary of Significant Accounting Policies - Schedule of Basic and Diluted Weighted Average Common Shares (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	19,183	18,967	19,110
Weighted average common equivalent shares	75	205	247
Diluted weighted average common shares outstanding	19,258	19,172	19,357
Options and restricted stock units excluded from diluted weighted average share calculation as effect would have been anti-dilutive	730	210	3

Marketable Investments - Unrealized Losses on Debt Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months - Market Value	$ 13,098	$ 11,604
Less than 12 Month - Unrealized Losses	8	153
12 Months or Greater - Market Value	6,872	8,084
12 Months or Greater - Unrealized Losses	71	66
Corporate Obligations [Member]
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months - Market Value	13,098	9,619
Less than 12 Month - Unrealized Losses	8	139
12 Months or Greater - Market Value	4,879	8,084
12 Months or Greater - Unrealized Losses	64	66
Federal Agency Obligations [Member]
Debt Securities, Available-for-Sale [Line Items]
Less than 12 Months - Market Value	0	1,985
Less than 12 Month - Unrealized Losses	0	14
12 Months or Greater - Market Value	1,993	0
12 Months or Greater - Unrealized Losses	$ 7	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
General and Administrative Expense [Member]
Loss Contingencies [Line Items]
Expense related to litigation	$ 4.8

Debt - Additional Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 21, 2021

Dec. 31, 2023

Dec. 31, 2022

^[1],[2],[3]

Debt Instrument [Line Items]

Write off of debt issuance cost

$ 0

Line of credit facility, covenant terms description

replace the minimum fixed charge coverage ratio financial covenant under the Existing Credit Agreement with a minimum consolidated interest coverage ratio of 3.50:1.00

Percentage of voting equity of subsidiaries

65.00%

Maximum | LIBOR [Member]

Debt Instrument [Line Items]

Interest rate

1.75%

Maximum | Base Rate [Member]

Debt Instrument [Line Items]

Interest rate

0.75%

Minimum | LIBOR [Member]

Debt Instrument [Line Items]

Interest rate

1.25%

Minimum | Base Rate [Member]

Debt Instrument [Line Items]

Interest rate

0.25%

Term Loans [Member] | Line of Credit [Member]

Debt Instrument [Line Items]

Proceeds from line of credit

$ 100,000

Term Loans [Member] | Term Loan A [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

125,000

Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 75,000

$ 35,000

^[1],[2],[3]

$ 50,000

Credit facility maturity date

Dec. 31, 2026

Revolving Credit Facility [Member] | Line of Credit [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 75,000

Proceeds from line of credit

100,000

Revolving Credit Facility [Member] | Letters of Credit [Member]

Debt Instrument [Line Items]

Available for issuance of letter of credit

$ 5,000

Debt cost incurred related to revolving credit facility

500

Debt instrument, amortized over the term

5 years

Issuance of letter of credit

$ 600

Revolving Credit Facility [Member] | Maximum

Debt Instrument [Line Items]

Aggregate principal amount

$ 150,000

Increase (decrease) in line of credit facility

$ 50,000

Percentage of commitment fee on the unused portion of the facility

0.20%

Revolving Credit Facility [Member] | Minimum

Debt Instrument [Line Items]

Percentage of commitment fee on the unused portion of the facility

0.30%

[1]	The Company had $114.4 million of available borrowing capacity on the Revolving Credit Facility (not including the expansion feature) as of December 31, 2023.
[2]	The contractual annualized interest rate as of December 31, 2023 on the Revolving Credit Facility was 6.70596%.
[3]	The weighted average annual effective rate on the Company's total debt outstanding for the years ended December 31, 2023 and 2022 was 6.3% and 2.9%, respectively.

Certain Balance Sheet Accounts - Summary of Non-Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Liabilities, Noncurrent [Abstract]
Deferred tax liability	$ 8,679	$ 14,133
Other	2,481	2,509
Total	$ 11,160	$ 16,642

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Increase in effective tax rate before income taxes	$ 6,285,000	$ 30,724,000	$ 33,191,000
Long-term net deferred tax liabilities	7,961,000	13,368,000
Operating loss carryforwards related to a prior acquisition	3,200,000
U.S. federal and state capital loss carryforwards	0
Valuation allowance	1,065,000	989,000	1,114,000	$ 1,237,000
Unremitted earnings	30,100,000
Unrecognized tax benefits	0	0	$ 5,000	$ 28,000
Foreign Tax Authority [Member]
Income Taxes [Line Items]
Operating loss carryforwards	18,100,000
Other Assets [Member]
Income Taxes [Line Items]
Long-term net deferred tax assets	700,000	800,000
Non-current Liabilities [Member]
Income Taxes [Line Items]
Long-term net deferred tax liabilities	$ 8,700,000	$ 14,100,000

Certain Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Property and Equipment

Property and equipment as of December 31, 2023 and 2022 is recorded at cost less accumulated depreciation and consists of the following (in thousands):


	2023			2022
Computers and equipment	$	10,128		$	14,303
Computer software		34,641			34,903
Furniture and fixtures		9,188			9,745
Leasehold improvements		29,506			30,285
Total property and equipment		83,463			89,236
Less accumulated depreciation		(64,062	)		(66,028	)
Total property and equipment, net	$	19,401		$	23,208

Summary of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities as of December 31, 2023 and 2022 consist of the following (in thousands):


	2023		2022
Payroll and related benefits	$	43,426	$	53,581
Taxes		4,680		5,823
Lease liability		14,181		13,632
Other		19,195		17,971
Total	$	81,482	$	91,007

Summary of Non-Current Liabilities

Non-current liabilities as of December 31, 2023 and 2022 consist of the following (in thousands):


	2023		2022
Deferred tax liability	$	8,679	$	14,133
Other		2,481		2,509
Total	$	11,160	$	16,642

Summary of Allowance for Doubtful Accounts

A rollforward of the allowance for doubtful accounts as of and for the years ended December 31, 2023, 2022, and 2021 is as follows (in thousands):


	2023			2022			2021
Balance, beginning of year	$	560		$	610		$	708
Provision for doubtful accounts		701			638			225
Write-offs		(692	)		(669	)		(318	)
Translation adjustments		5			(19	)		(5	)
Balance, end of year	$	574		$	560		$	610

Leases - Summary of Future Minimum Lease Payments and Sublease Cash Receipts Under Non-Cancelable Leases (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 16,001
2025	13,899
2026	12,344
2027	5,724
2028	2,889
Thereafter	6,049
Total lease payments	56,906
Less imputed interest	(5,052)
Total lease payments	51,854
2024	624
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total lease payments	$ 624

Debt - Summary of Company's Total Outstanding Borrowings (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Weighted average interest rate	6.30%	2.90%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	6.70596%
Line of credit facility, available borrowing capacity	$ 114.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 106,683	$ 107,061
Accumulated Amortization	69,046	57,557
Total	37,637	49,504
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	77,640	77,786
Accumulated Amortization	42,091	33,805
Total	35,549	43,981
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,524	16,803
Accumulated Amortization	15,950	14,696
Total	574	2,107
Trademarks [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,519	12,472
Accumulated Amortization	11,005	9,056
Total	$ 1,514	$ 3,416

Derivatives and Hedging

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

Note 6 – Derivatives and Hedging

The Company enters into derivative contracts (an interest rate swap and foreign currency forwards) to mitigate the cash flow risk associated with changes in interest rates on its variable rate debt (refer to Note 4 – Debt) and changes in foreign exchange rates on forecasted foreign currency transactions. The Company accounts for its derivative contracts in accordance with FASB ASC Topic 815 – Derivatives and Hedging (“Topic 815”), which requires all derivatives, including derivatives designated as accounting hedges, to be recorded on the balance sheet at fair value.

Interest Rate Swap

During 2019, the Company entered into a single interest rate swap contract that matured on December 31, 2022, with an initial notional amount of $95.0 million. The Company paid a base fixed rate of 1.65275% and in return received the greater of: (1) 1-month LIBOR, rounded up to the nearest 1/16 of a percent, or (2) 0.00%.

The swap had been designated and accounted for as a cash flow hedge of the forecasted interest payments on the Company’s debt. The swap was considered to be a highly effective hedge of the designated interest rate risk for the entire contract period and changes in the fair value of the swap were recorded in accumulated other comprehensive loss, a component of equity in the Consolidated Balance Sheets.

Foreign Currency Forwards

The Company enters into a limited number of foreign currency forward exchange contracts to mitigate the effects of adverse fluctuations in foreign currency exchange rates on transactions entered into in the normal course of business that are denominated in foreign currencies that differ from the local functional currency. These contracts generally have short durations and are recorded at fair value with both realized and unrealized gains and losses recorded in other income (expense), net in the Consolidated Statements of Operations because the Company does not designate these contracts as hedges for accounting purposes.

During 2023, the Company entered into twelve foreign currency forward exchange contracts, all of which settled by December 31, 2023. Accordingly, as of December 31, 2023, there are no amounts recorded in the Consolidated Balance Sheets. During 2022, the Company entered into ten foreign currency forward exchange contracts, all of which settled by December 31, 2022. Accordingly, as of December 31, 2022, there are no amounts recorded in the Consolidated Balance Sheets. During 2021, the Company entered into seven foreign currency forward exchange contracts, all of which settled by December 31, 2021.

The Company’s derivative counterparties are investment grade financial institutions. The Company does not have any collateral arrangements with its derivative counterparties and the derivative contracts do not contain credit risk related contingent features. The table below provides information regarding amounts recognized in the Consolidated Statements of Operations for derivative contracts for the periods indicated (in thousands):


	For the Year Ended December 31,
Amount recorded in:	2023			2022			2021
Interest expense (1)	$	—		$	(103	)	$	(807	)
Other income (expense), net (2)		(13	)		(194	)		(90	)
Total	$	(13	)	$	(297	)	$	(897	)

(1)

Consists of interest expense from the interest rate swap contract.

(2)

Consists of net realized losses on foreign currency forward contracts.

Summary of Significant Accounting Policies - Amortization of Intangible Assets, Estimated Useful Life (Detail)	Dec. 31, 2023
Customer Relationships [Member] \| Minimum
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, estimated useful life	5 years
Customer Relationships [Member] \| Maximum
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, estimated useful life	9 years
Technology [Member] \| Minimum
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, estimated useful life	1 year
Technology [Member] \| Maximum
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, estimated useful life	8 years
Trademarks [Member] \| Minimum
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, estimated useful life	6 years
Trademarks [Member] \| Maximum
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets, estimated useful life	8 years

Certain Balance Sheet Accounts

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Certain Balance Sheet Accounts

Note 13 – Certain Balance Sheet Accounts

Property and Equipment:

Property and equipment as of December 31, 2023 and 2022 is recorded at cost less accumulated depreciation and consists of the following (in thousands):


	2023			2022
Computers and equipment	$	10,128		$	14,303
Computer software		34,641			34,903
Furniture and fixtures		9,188			9,745
Leasehold improvements		29,506			30,285
Total property and equipment		83,463			89,236
Less accumulated depreciation		(64,062	)		(66,028	)
Total property and equipment, net	$	19,401		$	23,208

The Company incurs costs to develop or obtain internal use computer software used for its operations, and certain of these costs meeting the criteria in ASC 350 – Internal Use Software are capitalized and amortized over their useful lives. The entire balance in the computer software category above consists of these costs. Amortization of capitalized internal-use software costs totaled $4.7 million, $4.8 million, and $4.6 million for the years ended December 31, 2023, 2022, and 2021, respectively, and is included in depreciation expense in the Consolidated Statements of Operations.

Accrued Expenses and Other Current Liabilities:

Accrued expenses and other current liabilities as of December 31, 2023 and 2022 consist of the following (in thousands):


	2023		2022
Payroll and related benefits	$	43,426	$	53,581
Taxes		4,680		5,823
Lease liability		14,181		13,632
Other		19,195		17,971
Total	$	81,482	$	91,007

Non-Current Liabilities:

Non-current liabilities as of December 31, 2023 and 2022 consist of the following (in thousands):


	2023		2022
Deferred tax liability	$	8,679	$	14,133
Other		2,481		2,509
Total	$	11,160	$	16,642

Allowance for Doubtful Accounts:

A rollforward of the allowance for doubtful accounts as of and for the years ended December 31, 2023, 2022, and 2021 is as follows (in thousands):


	2023			2022			2021
Balance, beginning of year	$	560		$	610		$	708
Provision for doubtful accounts		701			638			225
Write-offs		(692	)		(669	)		(318	)
Translation adjustments		5			(19	)		(5	)
Balance, end of year	$	574		$	560		$	610

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 3,050	$ 21,806	$ 24,844

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Goodwill and Other Intangible Assets - Summary of Goodwill by Segment and Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 242,149	$ 244,994
Foreign currency translation adjustments	2,108	(2,845)
Goodwill, Ending Balance	244,257	242,149
Research Segment [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	234,020	236,770
Foreign currency translation adjustments	2,038	(2,750)
Goodwill, Ending Balance	236,058	234,020
Consulting Segment [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	8,129	8,224
Foreign currency translation adjustments	70	(95)
Goodwill, Ending Balance	$ 8,199	$ 8,129

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Restricted Stock Unit Activity

RSU activity for the year ended December 31, 2023 is presented below (in thousands, except per share data):


				Weighted-
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2022		682		$	46.28
Granted		695			32.82
Vested		(271	)		44.95
Forfeited		(107	)		42.72
Unvested at December 31, 2023		999		$	37.66

Schedule of Stock Option Activity

Stock option activity for the year ended December 31, 2023 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, 2022		89		$	35.58
Granted		144		$	33.04
Exercised		(3	)		34.37
Forfeited		(29	)		34.54
Outstanding at December 31, 2023		201		$	33.93		6.35	$	—
Exercisable at December 31, 2023		73		$	35.51		1.37	$	—
Vested and expected to vest at December 31, 2023		201		$	33.93		6.35	$	—

Summary of Shares Purchased by Employees Under the Stock Purchase Plan

Shares purchased by employees under the Stock Purchase Plan are as follows (in thousands, except per share data):


	Shares		Purchase
Purchase Period Ended	Purchased		Price
February 28, 2023		63	$	27.96
August 31, 2023		63	$	26.04
February 28, 2022		41	$	40.50
August 31, 2022		54	$	35.35

Schedule of Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss are as follows (in thousands):


	Marketable Investments			Interest Rate Swap			Translation Adjustment			Total AOCL
Balance at December 31, 2020	$	—		$	(821	)	$	131		$	(690	)
Foreign currency translation (1)		—			—			(3,083	)		(3,083	)
Unrealized gain (loss) before reclassification, net of tax of $(6)		(25	)		29			—			4
Reclassification to income, net of tax of $(227) (2)		—			580			—			580
Balance at December 31, 2021		(25	)		(212	)		(2,952	)		(3,189	)
Foreign currency translation (1)		—			—			(4,807	)		(4,807	)
Unrealized gain (loss) before reclassification, net of tax of $(10)		(134	)		137			—			3
Reclassification to income, net of tax of $(28) (2)		—			75			—			75
Balance at December 31, 2022		(159	)		—			(7,759	)		(7,918	)
Foreign currency translation (1)		—			—			3,248			3,248
Unrealized gain, net of tax of $(33)		99			—			—			99
Balance at December 31, 2023	$	(60	)	$	—		$	(4,511	)	$	(4,571	)

(1)

The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

(2)

Reclassification is related to the Company’s interest rate swap (cash flow hedge) and was recorded in interest expense in the Consolidated Statements of Operations. Refer to Note 6 – Derivatives and Hedging.

Income Taxes - Summary of Changes in Deferred Tax Valuation Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax valuation allowance, Beginning Balance	$ 989	$ 1,114	$ 1,237
Additions	39	106	0
Deductions	0	(336)	(108)
Change in tax legislation	(4)	186	0
Translation adjustments	41	(81)	(15)
Deferred tax valuation allowance, Ending Balance	$ 1,065	$ 989	$ 1,114

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Marketable Investments

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Marketable Investments

Note 2 – Marketable Investments

The following table summarizes the Company’s marketable investments (in thousands):


	As of December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	18,049	$	—	$	(72	)	$	17,977
Federal agency obligations		2,000		—		(7	)		1,993
Money market funds		31,610		—		—			31,610
Total	$	51,659	$	—	$	(79	)	$	51,580


	As of December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	17,900	$	8	$	(205	)	$	17,703
Federal agency obligations		1,999		—		(14	)		1,985
Total	$	19,899	$	8	$	(219	)	$	19,688

Realized gains and losses on investments are included in earnings and are determined using the specific identification method. There were no realized gains or losses on marketable investments during the years ended December 31, 2023, 2022, and 2021.

The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of December 31, 2023 (in thousands):


	2024		2025		Total
Corporate obligations	$	16,037	$	1,940	$	17,977
Federal agency obligations		1,993		—		1,993
Money market funds		31,610		—		31,610
Total	$	49,640	$	1,940	$	51,580

The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):


	As of December 31, 2023
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	13,098	$	8	$	4,879	$	64
Federal agency obligations		—		—		1,993		7
Total	$	13,098	$	8	$	6,872	$	71


	As of December 31, 2022
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	9,619	$	139	$	8,084	$	66
Federal agency obligations		1,985		14		—		—
Total	$	11,604	$	153	$	8,084	$	66

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of End-of-period Cash and Cash Equivalents and Cash, Cash Equivalents and Restricted Cash from Financial Statements

The following table summarizes the end-of-period cash and cash equivalents from the Company's Consolidated Balance Sheets and the total cash, cash equivalents and restricted cash as presented in the accompanying Consolidated Statements of Cash Flows (in thousands).


	For the Year Ended December 31,
	2023		2022
Cash and cash equivalents shown in balance sheets	$	72,909	$	103,629
Restricted cash classified in other assets (1):		2,133		2,025
Cash, cash equivalents and restricted cash shown in statement of cash flows	$	75,042	$	105,654

(1)

Restricted cash consists of collateral required for leased office space. The short-term or long-term classification regarding the collateral for the leased office space is determined in accordance with the expiration of the underlying leases.

Summary of Stock-Based Compensation Expense Recorded in Expense Categories

Stock-based compensation expense was recorded in the following expense categories (in thousands):


	Years Ended December 31,
	2023		2022		2021
Cost of services and fulfillment	$	9,068	$	8,435	$	6,057
Selling and marketing		2,943		2,774		1,698
General and administrative		3,475		3,334		2,315
Total	$	15,486	$	14,543	$	10,070

Shares Subject to Employee Stock Purchase Plan Valuation Assumptions

The options granted under the equity incentive plan and shares subject to the employee stock purchase plan were valued utilizing the Black-Scholes model using the following assumptions and had the following fair values (no options were granted in 2022 or 2021):


	Years Ended December 31,
	2023						2022			2021
	Equity Incentive Plans			Employee Stock Purchase Plan			Employee Stock Purchase Plan			Employee Stock Purchase Plan
Average risk-free interest rate		4.27	%		5.51	%		3.71	%		0.05	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	4.75 Years			0.5 Years			0.5 Years			0.5 Years
Expected volatility		43	%		35	%		33	%		30	%
Weighted average fair value	$	14.24		$	7.90		$	10.22		$	11.20

Depreciation and Amortization of Property and Equipment, Useful Life

Forrester provides for depreciation and amortization of property and equipment, computed using the straight-line method, over their estimated useful lives of its assets as follows:


		Estimated
		Useful Life
Computers and equipment		3 to 10 Years
Computer software		3 to 5 Years
Furniture and fixtures		7 Years
Leasehold improvements		Shorter of asset life or lease term

Amortization of Intangible Assets, Estimated Useful Life

Forrester provides for amortization of intangible assets, computed using an accelerated method according to the expected cash flows to be received from the underlying assets, over their estimated useful lives as follows:


		Estimated
		Useful Life
Customer relationships		5 to 9 Years
Technology		1 to 8 Years
Trademarks		6 to 8 Years

Schedule of Basic and Diluted Weighted Average Common Shares

Basic and diluted weighted average common shares are as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Basic weighted average common shares outstanding		19,183		18,967		19,110
Weighted average common equivalent shares		75		205		247
Diluted weighted average common shares outstanding		19,258		19,172		19,357
Options and restricted stock units excluded from diluted weighted average share calculation as effect would have been anti-dilutive		730		210		3

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Before Income Taxes

Income before income taxes consists of the following (in thousands):


	Years Ended December 31,
	2023			2022		2021
Domestic	$	(4,058	)	$	16,552	$	22,424
Foreign		10,343			14,172		10,767
Total	$	6,285		$	30,724	$	33,191

Components of Income Tax Expense

The components of the income tax expense are as follows (in thousands):


	Years Ended December 31,
	2023			2022			2021
Current:
Federal	$	3,867		$	9,349		$	4,203
State		1,922			3,819			2,272
Foreign		2,907			2,402			2,147
Total current		8,696			15,570			8,622
Deferred:
Federal		(3,872	)		(5,513	)		334
State		(1,597	)		(1,788	)		(663	)
Foreign		8			649			54
Total deferred		(5,461	)		(6,652	)		(275	)
Income tax expense	$	3,235		$	8,918		$	8,347

Reconciliation of Federal Statutory Rate

A reconciliation of the federal statutory rate to Forrester’s effective tax rate is as follows:


	Years Ended December 31,
	2023			2022			2021
Income tax provision at federal statutory rate		21.0	%		21.0	%		21.0	%
Increase (decrease) in tax resulting from:
State tax provision, net of federal benefit		8.1			5.2			3.8
Foreign tax rate differential		2.7			(0.5	)		(0.4	)
Stock compensation		17.5			0.9			(0.4	)
Withholding taxes		6.2			1.7			1.3
Non-deductible expenses		8.1			1.5			—
Permanent differences		(1.7	)		(0.3	)		(0.3	)
Change in valuation allowance		0.5			1.0			—
Foreign subsidiary income subject to U.S. tax		1.2			1.3			0.2
Foreign-derived intangible income benefit		(3.8	)		(0.7	)		(0.7	)
Change in tax legislation		(8.1	)		(1.6	)		(0.3	)
Foreign exchange gain on previously taxed earnings and profits		1.6			—			—
Other, net		(1.8	)		(0.5	)		0.9
Effective tax rate		51.5	%		29.0	%		25.1	%

Components of Deferred Income Taxes

The components of deferred income taxes are as follows (in thousands):


	As of December 31,
	2023			2022
Non-deductible reserves and accruals	$	3,077		$	2,736
Net operating loss and other carryforwards		6,262			6,215
Stock compensation		2,676			2,051
Depreciation and amortization		435			—
Lease liability		12,276			17,715
Gross deferred tax asset		24,726			28,717
Less - valuation allowance		(1,065	)		(989	)
Sub-total		23,661			27,728
Other liabilities		(733	)		(807	)
Depreciation and amortization		—			(1,023	)
Goodwill and intangible assets		(15,181	)		(18,648	)
Operating lease right-of-use assets		(9,163	)		(13,705	)
Deferred commissions		(6,545	)		(6,913	)
Net deferred tax liability	$	(7,961	)	$	(13,368	)

Summary of Changes in Deferred Tax Valuation Allowance

The following table provides a summary of the changes in the deferred tax valuation allowance for the years ended December 31, 2023, 2022, and 2021 (in thousands):


	2023			2022			2021
Deferred tax valuation allowance at January 1	$	989		$	1,114		$	1,237
Additions		39			106			—
Deductions		—			(336	)		(108	)
Change in tax legislation		(4	)		186			—
Translation adjustments		41			(81	)		(15	)
Deferred tax valuation allowance at December 31	$	1,065		$	989		$	1,114

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is summarized as follows for the years ended December 31, 2023, 2022, and 2021 (in thousands):


	2023		2022			2021
Unrecognized tax benefits at January 1	$	—	$	5		$	28
Reductions for tax positions of prior years		—		(4	)		(24	)
Translation adjustments		—		(1	)		1
Unrecognized tax benefits at December 31	$	—	$	—		$	5

Stockholders' Equity - Schedule of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Number of Shares, Outstanding, Beginning Balance	89,000
Number of Shares, Granted	144,000	0	0
Number of Shares, Exercised	(3,000)
Number of Shares, Forfeited	(29,000)
Number of Shares, Outstanding, Ending Balance	201,000	89,000
Number of Shares, Exercisable at December 31, 2023	73,000
Number of Shares, Vested and Expected to Vest at December 31, 2023	201,000
Weighted - Average Exercise Price Per Share, Outstanding, Beginning balance	$ 35.58
Weighted - Average Exercise Price Per Share, Granted	33.04
Weighted - Average Exercise Price Per Share, Exercised	34.37
Weighted - Average Exercise Price Per Share, Forfeited	34.54
Weighted - Average Exercise Price Per Share, Outstanding, Ending balance	33.93	$ 35.58
Weighted - Average Exercise Price Per Share, Exercisable at December 31, 2023	35.51
Weighted - Average Exercise Price Per Share, Vested and Expected to Vest at December 31, 2023	$ 33.93
Weighted - Average Remaining Contractual Term, Outstanding at December 31, 2023	6 years 4 months 6 days
Weighted - Average Remaining Contractual Term, Exercisable at December 31, 2023	1 year 4 months 13 days
Weighted - Average Remaining Contractual Term, Vested and Expected to Vest at December 31, 2023	6 years 4 months 6 days
Aggregate Intrinsic Value, Outstanding at December 31, 2023	$ 0
Aggregate Intrinsic Value, Vested and Exercisable at December 31, 2023	0
Aggregate Intrinsic Value, Vested and Expected to Vest at December 31, 2023	$ 0

Certain Balance Sheet Accounts - Summary of Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Balance, beginning of year	$ 560	$ 610	$ 708
Provision for doubtful accounts	701	638	225
Write-offs	(692)	(669)	(318)
Translation adjustments	5	(19)	(5)
Balance, end of year	$ 574	$ 560	$ 610

Summary of Significant Accounting Policies - Depreciation and Amortization of Property and Equipment, Useful Life (Detail)	12 Months Ended
	Dec. 31, 2023
Computers and Equipment [Member] \| Minimum
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Life	3 years
Computers and Equipment [Member] \| Maximum
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Life	10 years
Computer Software [Member] \| Minimum
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Life	3 years
Computer Software [Member] \| Maximum
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Life	5 years
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Life	7 years
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Life	Shorter of asset life or lease term
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	Property, Plant and Equipment, Net

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Note 8 – Income Taxes

Income before income taxes consists of the following (in thousands):


	Years Ended December 31,
	2023			2022		2021
Domestic	$	(4,058	)	$	16,552	$	22,424
Foreign		10,343			14,172		10,767
Total	$	6,285		$	30,724	$	33,191

The components of the income tax expense are as follows (in thousands):


	Years Ended December 31,
	2023			2022			2021
Current:
Federal	$	3,867		$	9,349		$	4,203
State		1,922			3,819			2,272
Foreign		2,907			2,402			2,147
Total current		8,696			15,570			8,622
Deferred:
Federal		(3,872	)		(5,513	)		334
State		(1,597	)		(1,788	)		(663	)
Foreign		8			649			54
Total deferred		(5,461	)		(6,652	)		(275	)
Income tax expense	$	3,235		$	8,918		$	8,347

A reconciliation of the federal statutory rate to Forrester’s effective tax rate is as follows:


	Years Ended December 31,
	2023			2022			2021
Income tax provision at federal statutory rate		21.0	%		21.0	%		21.0	%
Increase (decrease) in tax resulting from:
State tax provision, net of federal benefit		8.1			5.2			3.8
Foreign tax rate differential		2.7			(0.5	)		(0.4	)
Stock compensation		17.5			0.9			(0.4	)
Withholding taxes		6.2			1.7			1.3
Non-deductible expenses		8.1			1.5			—
Permanent differences		(1.7	)		(0.3	)		(0.3	)
Change in valuation allowance		0.5			1.0			—
Foreign subsidiary income subject to U.S. tax		1.2			1.3			0.2
Foreign-derived intangible income benefit		(3.8	)		(0.7	)		(0.7	)
Change in tax legislation		(8.1	)		(1.6	)		(0.3	)
Foreign exchange gain on previously taxed earnings and profits		1.6			—			—
Other, net		(1.8	)		(0.5	)		0.9
Effective tax rate		51.5	%		29.0	%		25.1	%

The increase in the effective tax rate during 2023 as compared to 2022 was primarily due to 1) the impact from the decline in income before taxes to $6.3 million in 2023 from $30.7 million in 2022 and 2) increased non-deductible stock compensation due primarily to the effect from the settlement of share-based awards in 2023.

The components of deferred income taxes are as follows (in thousands):


	As of December 31,
	2023			2022
Non-deductible reserves and accruals	$	3,077		$	2,736
Net operating loss and other carryforwards		6,262			6,215
Stock compensation		2,676			2,051
Depreciation and amortization		435			—
Lease liability		12,276			17,715
Gross deferred tax asset		24,726			28,717
Less - valuation allowance		(1,065	)		(989	)
Sub-total		23,661			27,728
Other liabilities		(733	)		(807	)
Depreciation and amortization		—			(1,023	)
Goodwill and intangible assets		(15,181	)		(18,648	)
Operating lease right-of-use assets		(9,163	)		(13,705	)
Deferred commissions		(6,545	)		(6,913	)
Net deferred tax liability	$	(7,961	)	$	(13,368	)

As of December 31, 2023 and 2022, long-term net deferred tax assets were $0.7 million and $0.8 million, respectively, and are included in other assets in the Consolidated Balance Sheets. Long-term net deferred tax liabilities were $8.7 million and $14.1 million at December 31, 2023 and 2022, respectively, and are included in non-current liabilities in the Consolidated Balance Sheets.

As of December 31, 2023, the Company has fully utilized its U.S. federal net operating loss carryforwards.

The Company has foreign net operating loss carryforwards of approximately $18.1 million, which can be carried forward indefinitely. Approximately $3.2 million of the foreign net operating loss carryforwards relate to a prior acquisition, the utilization of which is subject to limitation under the tax law of the United Kingdom.

As of December 31, 2023, the Company has no U.S. federal and state capital loss carryforwards.

The Company considers all available evidence, both positive and negative, to determine whether, based on the weight of that evidence, a valuation allowance is needed for some portion or all of a net deferred income tax asset. Judgment is required in considering the relative impact of negative and positive evidence. In arriving at these judgments, the weight given to the potential effect of negative and positive evidence is commensurate with the extent to which it can be objectively verified. Although realization is not assured, based upon the Company’s historical taxable income and projections of the Company’s future taxable income over the periods during which the deferred tax assets are deductible and the carryforwards expire, management believes it is more likely than

not that the Company will realize the benefits of these deductible differences, net of the existing valuation allowances, as discussed below.

As of December 31, 2023 and 2022, the Company maintained a valuation allowance of approximately $1.1 million and $1.0 million, respectively, primarily relating to foreign net operating loss carryforwards from an acquisition, and as of December 31, 2021, also from U.S. capital losses from the Company’s investment in technology-related private equity funds.

The following table provides a summary of the changes in the deferred tax valuation allowance for the years ended December 31, 2023, 2022, and 2021 (in thousands):


	2023			2022			2021
Deferred tax valuation allowance at January 1	$	989		$	1,114		$	1,237
Additions		39			106			—
Deductions		—			(336	)		(108	)
Change in tax legislation		(4	)		186			—
Translation adjustments		41			(81	)		(15	)
Deferred tax valuation allowance at December 31	$	1,065		$	989		$	1,114

The Company will generally be free of additional U.S. federal tax consequences on additional unremitted foreign earnings that have been subject to U.S. tax primarily through GILTI or would be eligible for a dividends received deduction for earnings distributed after January 1, 2018. Notwithstanding the U.S. taxation of these amounts, the Company intends to continue to invest all of its unremitted earnings of $30.1 million, as well as the capital in these subsidiaries, indefinitely outside of the U.S. unless there are opportunities in the future to repatriate in a tax efficient manner. The Company does not expect to incur any material, additional taxes related to such amounts.

The Company utilizes a two-step process for the measurement of uncertain tax positions that have been taken or are expected to be taken on a tax return. The first step is a determination of whether the tax position should be recognized in the financial statements. The second step determines the measurement of the tax position. A reconciliation of the beginning and ending amount of unrecognized tax benefits is summarized as follows for the years ended December 31, 2023, 2022, and 2021 (in thousands):


	2023		2022			2021
Unrecognized tax benefits at January 1	$	—	$	5		$	28
Reductions for tax positions of prior years		—		(4	)		(24	)
Translation adjustments		—		(1	)		1
Unrecognized tax benefits at December 31	$	—	$	—		$	5

As of December 31, 2023, the Company had no unrecognized tax benefits. The Company does not expect the liability for unrecognized tax benefits to change materially within the next 12 months.

The Company recognizes interest and penalties related to uncertain tax positions in income tax expense and such amounts were not significant in the years ended December 31, 2023, 2022, and 2021. Accrued interest and penalties were insignificant at December 31, 2023, 2022, and 2021.

The Company files income tax returns in the U.S. and in foreign jurisdictions. Generally, the Company is no longer subject to U.S., state, local, and foreign income tax examinations by tax authorities in its major jurisdictions for years before 2016, except to the extent of net operating loss and tax credit carryforwards from those years. Major taxing jurisdictions include the U.S., the Netherlands, the United Kingdom, Germany, and Switzerland. As of December 31, 2023, the Company has no jurisdictions under audit.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Operating Segment and Enterprise Wide Reporting - Schedule of Net Long-lived Tangible Assets by Location (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenues From External Customers And Long Lived Assets [Line Items]
Net long-lived tangible assets	$ 59,123	$ 73,178
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net long-lived tangible assets	48,001	60,631
United Kingdom [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net long-lived tangible assets	8,194	8,678
Europe (Excluding United Kingdom) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net long-lived tangible assets	186	319
Asia Pacific [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net long-lived tangible assets	$ 2,742	$ 3,550

Summary of Significant Accounting Policies - Fair Value of Options Granted Under Equity Incentive Plan and Shares Subject to Employee Stock Purchase Plan Valuation Assumptions (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	4.27%
Expected dividend yield	0.00%
Expected life	4 years 9 months
Expected volatility	43.00%
Weighted average fair value	$ 14.24
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	5.51%	3.71%	0.05%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life	6 months	6 months	6 months
Expected volatility	35.00%	33.00%	30.00%
Weighted average fair value	$ 7.9	$ 10.22	$ 11.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Subparagraph (a)(2)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (a)(3)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (c)(1)(ii)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
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-Subparagraph (c)(1)(iii)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases - Summary of Additional Lease Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 13,839	$ 12,939
Operating ROU assets obtained in exchange for lease obligations	$ 1,110	$ 323
Weighted-average remaining lease term - operating leases (years)	4 years 3 months 18 days	5 years 1 month 6 days
Weighted-average discount rate - operating leases	4.30%	4.30%

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, Beginning Balance	$ 0	$ 5,000	$ 28,000
Reductions for tax positions of prior years	0	(4,000)	(24,000)
Translation adjustments	0	(1,000)	1,000
Unrecognized tax benefits, Ending Balance	$ 0	$ 0	$ 5,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents shown in balance sheets	$ 72,909	$ 103,629
Marketable investments (Note 2)	51,580	19,688
Accounts receivable, net of allowance for expected credit losses of $574 and $560 as of December 31, 2023 and 2022, respectively (Note 1,13)	58,999	73,345
Deferred commissions	23,207	24,559
Prepaid expenses and other current assets	9,305	14,069
Total current assets	216,000	235,290
Property and equipment, net	19,401	23,208
Operating lease right-of-use assets	39,722	49,970
Goodwill	244,257	242,149
Intangible assets, net	37,637	49,504
Other assets	7,157	8,317
Total assets	564,174	608,438
Current Liabilities:
Accounts payable	1,796	361
Accrued expenses and other current liabilities	81,482	91,007
Deferred revenue	156,798	178,021
Total current liabilities	240,076	269,389
Long-term debt	35,000	50,000
Non-current operating lease liabilities	37,673	50,751
Other non-current liabilities (Note 13)	11,160	16,642
Total liabilities	323,909	386,782
Commitments and contingencies (Note14)
Stockholders' Equity:
Preferred stock, $0.01 par value Authorized - 500 shares; issued and outstanding - none	0	0
Common stock, $0.01 par value Authorized - 125,000 shares Issued - 24,684 and 24,367 shares as of December 31, 2023 and 2022, respectively Outstanding - 19,248 and 19,062 shares as of December 31, 2023 and 2022, respectively	247	244
Additional paid-in capital	278,057	261,766
Retained earnings	177,681	174,631
Treasury stock - 5,437 and 5,305 shares as of December 31, 2023 and 2022, respectively	(211,149)	(207,067)
Accumulated other comprehensive loss	(4,571)	(7,918)
Total stockholders’ equity	240,265	221,656
Total liabilities and stockholders’ equity	$ 564,174	$ 608,438

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders' Equity

Note 9 – Stockholders’ Equity

Preferred Stock

Forrester has authorized 500,000 shares of $0.01 par value preferred stock. The Board of Directors has full authority to issue this stock and to fix the voting powers, preferences, rights, qualifications, limitations, or restrictions thereof, including dividend rights, conversion rights, redemption privileges, liquidation preferences, and the number of shares constituting any series or designation of such series.

Treasury Stock

As of December 31, 2023, Forrester’s Board of Directors has authorized an aggregate $585.0 million to purchase common stock under the Company’s stock repurchase program. The shares repurchased may be used, among other things, in connection with Forrester’s equity incentive and purchase plans. As of December 31, 2023, the Company had repurchased approximately 17.1 million shares of common stock at an aggregate cost of $514.1 million.

Dividends

The Company does not currently pay cash dividends on its common stock.

Equity Plans

The Company maintains the Forrester Research, Inc. Amended and Restated Equity Incentive Plan (the “Equity Incentive Plan”), as most recently amended and restated by our stockholders in May 2023. The amendment and restatement resulted in (1) extending the term of the plan for an additional 10 years until May 2033, (2) increasing the number of shares issuable under the plan by 3,500,000 shares, and (3) establishing a maximum amount of awards issuable under the plan to the Company’s non-employee directors.

The Equity Incentive Plan provides for the issuance of stock-based awards, including incentive stock options (“ISOs”), non-qualified stock options (“NSOs”), and restricted stock units (“RSUs”) to purchase up to 9,930,000 shares authorized in the plan plus the number of unused shares from prior plan (not to exceed 2,500,000 shares). Under the terms of the Equity Incentive Plan, ISOs may not be granted at less than fair market value on the date of grant (and in no event less than par value). Options and RSUs generally vest annually over four years and options expire after 10 years. No future awards can be granted or issued under prior plans and there is a maximum amount of awards issuable under the plan to the Company’s non-employee Directors. RSUs granted to non-employee directors vest quarterly over one year. Options and RSUs granted under the Equity Incentive Plan immediately vest upon certain events, as described in the plan. As of December 31, 2023, approximately 4.2 million shares were available for future grant of awards under the Equity Incentive Plan.

As of December 31, 2023, no options remain outstanding under prior plans.

Restricted Stock Units

Restricted stock units represent the right to receive one share of Forrester common stock when the restrictions lapse and the vesting conditions are met. RSUs are valued on the date of grant based upon the value of the Company’s stock on the date of grant less the present value of dividends expected to be paid during the requisite service period, if any. Shares of Forrester’s common stock are delivered to the grantee upon vesting, subject to a reduction of shares for payment of withholding taxes. The weighted average grant date fair value for RSUs granted in 2023, 2022, and 2021 was $32.82, $50.37, and $46.64, respectively. The value of RSUs vested and converted to common stock, based on the value of Forrester’s common stock on the date of vesting, was $8.8 million, $10.8 million, and $11.5 million during 2023, 2022, and 2021, respectively.

RSU activity for the year ended December 31, 2023 is presented below (in thousands, except per share data):


				Weighted-
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2022		682		$	46.28
Granted		695			32.82
Vested		(271	)		44.95
Forfeited		(107	)		42.72
Unvested at December 31, 2023		999		$	37.66

Stock Options

Stock option activity for the year ended December 31, 2023 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, 2022		89		$	35.58
Granted		144		$	33.04
Exercised		(3	)		34.37
Forfeited		(29	)		34.54
Outstanding at December 31, 2023		201		$	33.93		6.35	$	—
Exercisable at December 31, 2023		73		$	35.51		1.37	$	—
Vested and expected to vest at December 31, 2023		201		$	33.93		6.35	$	—

The total intrinsic value of options exercised during 2023, 2022, and 2021 was $6 thousand, $0.3 million, and $2.2 million, respectively.

Employee Stock Purchase Plan

In May 2022, stockholders of the Company approved an amendment to the Company’s Second Amended and Restated Employee Stock Purchase Plan, which provided for an additional 600,000 shares of common stock, par value $0.01 per share, to be granted under the plan. The Company's Third Amended and Restated Employee Stock Purchase Plan (the "Stock Purchase Plan"), provides for the issuance of up to 0.8 million shares of common stock and as of December 31, 2023, approximately 0.6 million shares remain available for issuance. With certain limited exceptions, all employees of Forrester whose customary employment is more than 20 hours per week, including officers and directors who are employees, are eligible to participate in the Stock Purchase Plan. Purchase periods under the Stock Purchase Plan are six months in length and commence on each successive March 1 and September 1. Stock purchased under the Stock Purchase Plan is required to be held for one year before it is able to be sold. During each purchase period the maximum number of shares of common stock that may be purchased by an employee is limited to the number of shares equal to $12,500 divided by the fair market value of a share of common stock on the first day of the purchase period. An employee may elect to have up to 10% deducted from his or her compensation for the purpose of purchasing shares under the Stock Purchase Plan. The price at which the employee’s shares are purchased is the lower of: (1) 85% of the closing price of the common stock on the day that the purchase period commences, or (2) 85% of the closing price of the common stock on the day that the purchase period terminates.

Shares purchased by employees under the Stock Purchase Plan are as follows (in thousands, except per share data):


	Shares		Purchase
Purchase Period Ended	Purchased		Price
February 28, 2023		63	$	27.96
August 31, 2023		63	$	26.04
February 28, 2022		41	$	40.50
August 31, 2022		54	$	35.35

Accumulated Other Comprehensive Loss (“AOCL”)

The components of accumulated other comprehensive loss are as follows (in thousands):


	Marketable Investments			Interest Rate Swap			Translation Adjustment			Total AOCL
Balance at December 31, 2020	$	—		$	(821	)	$	131		$	(690	)
Foreign currency translation (1)		—			—			(3,083	)		(3,083	)
Unrealized gain (loss) before reclassification, net of tax of $(6)		(25	)		29			—			4
Reclassification to income, net of tax of $(227) (2)		—			580			—			580
Balance at December 31, 2021		(25	)		(212	)		(2,952	)		(3,189	)
Foreign currency translation (1)		—			—			(4,807	)		(4,807	)
Unrealized gain (loss) before reclassification, net of tax of $(10)		(134	)		137			—			3
Reclassification to income, net of tax of $(28) (2)		—			75			—			75
Balance at December 31, 2022		(159	)		—			(7,759	)		(7,918	)
Foreign currency translation (1)		—			—			3,248			3,248
Unrealized gain, net of tax of $(33)		99			—			—			99
Balance at December 31, 2023	$	(60	)	$	—		$	(4,511	)	$	(4,571	)

(1)

(2)

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
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-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (a)
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Stockholders' Equity - Schedule of Components of Accumulated Other Comprehensive Loss (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Accumulated Other Comprehensive Income Loss [Line Items]

Beginning Balance

$ 221,656

$ 203,907

$ 185,766

Foreign currency translation

3,248

(4,807)

(3,083)

Ending Balance

240,265

221,656

203,907

Marketable Investments [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Beginning Balance

(159)

(25)

Unrealized loss before reclassification, net of tax

(134)

(25)

Ending Balance

(60)

(159)

(25)

Interest Rate Swap [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Beginning Balance

(212)

(821)

Unrealized loss before reclassification, net of tax

137

Reclassification of AOCI/L to income, net of tax

^[1]

580

Ending Balance

(212)

Translation Adjustment [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Beginning Balance

(7,759)

(2,952)

131

Foreign currency translation

^[2]

3,248

(4,807)

(3,083)

Ending Balance

(4,511)

(7,759)

(2,952)

Total AOCI/L [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Beginning Balance

(7,918)

(3,189)

(690)

Foreign currency translation

^[2]

3,248

(4,807)

(3,083)

Unrealized loss, net of tax

Reclassification of AOCI/L to income, net of tax

^[1]

580

Ending Balance

$ (4,571)

$ (7,918)

$ (3,189)

[1]	Reclassification is related to the Company’s interest rate swap (cash flow hedge) and was recorded in interest expense in the Consolidated Statements of Operations. Refer to Note 6 – Derivatives and Hedging.
[2]	The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

Fair Value Measurements - Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Assets:

Fair value of investments

$ 75,098

$ 25,488

Money Market Funds [Member]

Assets:

Fair value of cash equivalents

55,128

^[1]

5,800

^[2]

Marketable Investments [Member]

Assets:

Fair value of investments

^[3]

19,970

19,688

Level 1 [Member]

Assets:

Fair value of investments

55,128

5,800

Level 1 [Member] | Money Market Funds [Member]

Assets:

Fair value of cash equivalents

55,128

^[1]

5,800

^[2]

Level 1 [Member] | Marketable Investments [Member]

Assets:

Fair value of investments

^[3]

Fair Value, Inputs, Level 2

Assets:

Fair value of investments

19,970

19,688

Fair Value, Inputs, Level 2 | Money Market Funds [Member]

Assets:

Fair value of cash equivalents

^[1]

^[2]

Fair Value, Inputs, Level 2 | Marketable Investments [Member]

Assets:

Fair value of investments

^[3]

$ 19,970

$ 19,688

[1]	U.S. based funds of $23.5 million are included in cash and cash equivalents and non-U.S. based funds of $31.6 million included in marketable investments in the Consolidated Balance Sheets.
[2]	Represents U.S. based funds and are included in cash and cash equivalents in the Consolidated Balance Sheets.
[3]	Marketable investments have been initially valued at the transaction price and subsequently valued, at the end of the reporting period, utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

Operating Segment and Enterprise Wide Reporting - Schedule of Revenues by Geographic Destination, Based on Location Products and Services and as a Percentage of Total Revenues (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 480,779	$ 537,787	$ 494,315
Revenues by geographical area percentage	100.00%	100.00%	100.00%
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 373,483	$ 426,041	$ 381,662
Revenues by geographical area percentage	78.00%	79.00%	77.00%
Europe (Excluding United Kingdom) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 37,912	$ 36,664	$ 41,264
Revenues by geographical area percentage	8.00%	7.00%	9.00%
United Kingdom [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 21,311	$ 20,079	$ 21,913
Revenues by geographical area percentage	4.00%	4.00%	5.00%
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 16,416	$ 20,759	$ 17,213
Revenues by geographical area percentage	3.00%	4.00%	3.00%
Asia Pacific [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 23,604	$ 26,548	$ 26,768
Revenues by geographical area percentage	5.00%	5.00%	5.00%
Other [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 8,053	$ 7,696	$ 5,495
Revenues by geographical area percentage	2.00%	1.00%	1.00%

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
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-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

Forrester Research, Inc. is a global independent research and advisory firm. The Company helps leaders across technology, customer experience, marketing, sales and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work, navigate change, and put their customers at the center of their leadership, strategy, and operations. The Company’s unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide, rigorous and objective research methodologies, over 100 million real-time feedback votes, and the shared wisdom of our clients.

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting on Form 10-K. The Company’s fiscal year is the twelve months from January 1 through December 31 and all references to 2023, 2022, and 2021 refer to the fiscal year unless otherwise noted.

Principles of Consolidations

The accompanying consolidated financial statements include the accounts of Forrester and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Management Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Forrester considers the more significant of these estimates to be revenue recognition, ongoing impairment reviews of goodwill, intangible and other long-lived assets, and income taxes. On an ongoing basis, management evaluates its estimates. Actual results could differ from these estimates.

Adoption of New Accounting Pronouncements

The Company adopted the guidance in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes on January 1, 2021. The standard provides guidance to simplify the accounting for income taxes in certain areas, changes the accounting for select income tax transactions, and makes other minor improvements. The adoption of this standard did not have a material impact on the Company’s financial position or results of operations.

Fair Value Measurements

The carrying amounts reflected in the Consolidated Balance Sheets for cash, certain cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. The Company’s financial instruments also include its outstanding variable-rate borrowings (refer to Note 4 – Debt). The Company believes that the carrying amount of its variable-rate borrowings reasonably approximate their fair values because the rates of interest on those borrowings reflect current market rates of interest.

Additionally, the Company has certain financial assets and liabilities recorded at fair value at each balance sheet date, including cash equivalents and marketable investments, in accordance with the accounting standards for fair value measurements. Refer to Note 7 – Fair Value Measurements for the Company’s fair value disclosures.

Cash, Cash Equivalents, and Marketable Investments

Forrester considers all short-term, highly liquid investments with original maturities at the time of purchase of 90 days or less to be cash equivalents, inclusive of the Company's U.S. based money market funds.

The Company’s portfolio of investments may at any time include securities of U.S. government agencies, municipal notes and bonds, corporate notes and bonds, commercial paper, and money market funds based outside of the U.S. Marketable investments are

classified as current assets as they are available for use in current operations. Forrester accounts for all marketable investments as available-for-sale securities and as such, the marketable investments are carried at fair value with unrealized gains and losses (not related to credit losses) recorded in accumulated other comprehensive loss in the Consolidated Balance Sheets. Realized gains and losses on securities are included in earnings and are determined using the specific identification method. The Company conducts periodic reviews to identify and evaluate each investment that has an unrealized loss, in accordance with the meaning of other-than-temporary impairment and its application to certain investments, as required under the accounting standards. Unrealized losses on available-for-sale securities that are determined to be temporary, and not related to credit loss, are recorded, net of tax, in accumulated other comprehensive loss. During the years ended December 31, 2023, 2022, and 2021, the Company did not record any other-than-temporary impairment losses on its available-for-sale securities.

The Company did not realize any gains or losses from the Company's available-for-sale securities during the years ended December 31, 2023, 2022, and 2021.

Presentation of Restricted Cash


	For the Year Ended December 31,
	2023		2022
Cash and cash equivalents shown in balance sheets	$	72,909	$	103,629
Restricted cash classified in other assets (1):		2,133		2,025
Cash, cash equivalents and restricted cash shown in statement of cash flows	$	75,042	$	105,654

(1)

Concentrations of Credit Risk

Financial instruments that potentially subject Forrester to concentrations of credit risk are principally cash, cash equivalents, marketable investments, accounts receivable, and foreign currency forward exchange contracts. The Company limits its risk exposure by having its cash, cash equivalents, and foreign currency forward exchange contracts with large commercial banks and by diversifying counterparties. No single customer accounted for greater than 4% of revenues or 2% of accounts receivable in any of the periods presented.

Forrester does not have any off-balance sheet arrangements.

Business Acquisitions

Forrester accounts for business combinations in accordance with the acquisition method of accounting as prescribed by FASB ASC Topic 805, Business Combinations. The acquisition method of accounting requires the Company to record the assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with any excess of the consideration transferred over the estimated fair value of the net assets acquired, including identifiable intangible assets, to be recorded to goodwill. The Company did not consummate a business combination during the years ended December 31, 2023, 2022, and 2021.

Goodwill

Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair values of the tangible and identifiable intangible net assets acquired. Goodwill is not amortized; however, it is required to be tested for impairment annually, which requires assessment of the potential impairment at the reporting unit level. Reporting units are determined based on the components of the Company's operating segments that constitute a business for which financial information is available and for which operating results are regularly reviewed by segment management. Testing for impairment is also required on an interim basis if an event or circumstance indicates it is more likely than not an impairment loss has been incurred. When performing an impairment assessment, the Company either uses a qualitative assessment, to determine if it is more likely than not that the estimated fair value of any reporting unit is less than its carrying amount, or a quantitative analysis, to determine and compare the fair value of each reporting unit to its carrying value, or a combination of both. An impairment of goodwill is recognized to the extent that the carrying amount of a reporting unit exceeds its estimated fair value. Absent an event that indicates a specific impairment may exist, the Company has

selected November 30th as the date for performing the annual goodwill impairment test. Goodwill impairment charges have not been required for the years ended December 31, 2023, 2022 and 2021.

Impairment of Other Long-Lived Tangible and Intangible Assets

Other long-lived assets primarily consist of property and equipment, operating lease right-of-use assets, and intangible assets. The Company periodically evaluates the recoverability of other long-lived assets whenever events and changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. When indicators of impairment are present, the carrying values of the asset group are evaluated in relation to the future undiscounted cash flows of the underlying business. The net book value of the underlying asset is adjusted to fair value if the sum of the expected discounted cash flows is less than book value. Fair values are based on estimates of market prices and assumptions concerning the amount and timing of estimated future cash flows and assumed discount rates, reflecting varying degrees of perceived risk. The Company recorded $2.6 million and $5.0 million of long-lived asset impairment charges during 2023 and 2022, respectively (refer to Note 5 – Leases). No impairment charges were recorded during 2021.

Non-Current Liabilities

The Company records deferred tax liabilities and other liabilities that are expected to be settled over a period that exceeds one year as non-current liabilities.

Foreign Currency

The functional currency of Forrester’s wholly-owned subsidiaries is their respective local currency. These subsidiary financial statements are translated to U.S. dollars using period-end exchange rates for assets and liabilities and average exchange rates during the corresponding period for revenues and expenses, with translation gains and losses recorded as a component of accumulated other comprehensive loss in the Consolidated Balance Sheets. Gains and losses related to the remeasurement of monetary assets and liabilities denominated in a currency other than an entity’s functional currency are included in other income (expense), net in the Consolidated Statements of Operations. Forrester recorded $0.3 million, $0.2 million, and $1.4 million of foreign exchange losses during 2023, 2022, and 2021, respectively.

Revenue

The Company generates all of its revenues from contracts with customers, which totaled $480.8 million for the year ended December 31, 2023.

The Company recognizes revenue when a customer obtains control of promised products or services, in an amount that reflects the consideration expected to be received in exchange for those products or services. The Company follows the five-step model prescribed under Topic 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies each performance obligation. Revenues are presented net of any sales or value added taxes collected from customers and remitted to the government.

The Company accounts for a contract when it has approval and commitment from both parties, the fees, payment terms and rights of the parties regarding the products or services to be transferred are identified, the contract has commercial substance, and it is probable that substantially all of the consideration for the products and services expected to be transferred is collectible. The Company applies judgment in determining the customer’s ability and intention to pay for services expected to be transferred, which is based on factors including the customer’s payment history, management’s ability to mitigate exposure to credit risk (for example, requiring payment in advance of the transfer of products or services, or the ability to stop transferring promised products or services in the event a customer fails to pay consideration when due), and experience selling to similarly situated customers. Since the transaction price is fixed and defined as part of entering into a contract, and generally does not change, variable consideration is insignificant.

Performance obligations within a contract are identified based on the products and services promised to be transferred in the contract. When a contract includes more than one promised product or service, the Company must apply judgment to determine whether the promises represent multiple performance obligations or a single, combined performance obligation. This evaluation requires the Company to determine if the promises are both capable of being distinct, where the customer can benefit from the product or service on its own or together with other resources readily available, and are distinct within the context of the contract, where the transfer of products or services is separately identifiable from other promises in the contract. When both criteria are met, each promised product or service is accounted for as a separate performance obligation. In cases where the promises are distinct, the Company is further required to evaluate if the promises are a series of products and services that are substantially the same and have

the same pattern of transfer to the customer (referred to as the “series” guidance). When the Company determines that promises meet the series guidance, they are accounted for as a single, combined performance obligation.

Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative basis according to their standalone selling prices. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. If the Company does not have a history of selling a performance obligation, management applies judgment to estimate the standalone selling price, taking into consideration available information, including market conditions, factors considered to set list prices, pricing of similar products, and internal pricing objectives. The corresponding allocated revenues are recognized when (or as) the performance obligations are satisfied, as discussed further below.

Research revenues

The majority of research revenues are subscriptions to our research, including access to a designated portion of our research and, depending on the type of license, unlimited analyst inquiry or guidance sessions, an executive coach or advisor, peer offerings, and unlimited participation in Forrester webinars, all of which are delivered throughout the contract period. The Company has concluded that these promises represent a stand ready obligation to provide a daily information service, in which the services are the same each day, every day is distinct, and the customer simultaneously receives and consumes the benefits as the Company transfers control throughout the contract period. Accordingly, these subscriptions meet the requirements of the series guidance and are each accounted for as a single performance obligation. The Company recognizes revenue ratably over the contract term, using an output measure of time elapsed. Certain of the research products include advisory services and/or an event ticket, which are accounted for as a separate performance obligation and are recognized at the point in time the service is completed, the final deliverable is transferred to the customer, or the event occurs. Research revenues also include sales of electronic reprints, which are written research documents prepared by Forrester’s analysts and hosted via an on-line platform. Reprints include a promise to deliver a customer-selected research document and certain usage data provided through the on-line platform, which represents two performance obligations. The Company satisfies the performance obligation for the research document by providing access to the electronic reprint and accordingly recognizes revenue at that point in time. The Company satisfies the performance obligation for the data portion of the reprint on a daily basis and accordingly recognizes revenue over time.

Consulting revenues

Consulting revenues consist of consulting projects and advisory services. Consulting project revenues consist of the delivery of focused insights and recommendations to assist clients in developing and executing their technology and business strategies. Projects are fixed-fee arrangements that are generally completed over two weeks to three months. The Company has concluded that each project represents a single performance obligation as each is a single promise to deliver a customized engagement and deliverable. For the majority of these services, either practically or contractually, the work performed and delivered to the customer has no alternative use to the Company. Additionally, Forrester maintains an enforceable right to payment at all times throughout the contract. The Company utilizes an input method and recognizes revenue over time, based on hours expended relative to the total estimated hours required to satisfy the performance obligation. The input method closely aligns with how control of interim deliverables is transferred to the customer throughout the engagement and is also the method used internally to price the project and assess operational performance. If the Company were to enter into an agreement where it does not have an enforceable right to payment at all times, revenue would be recognized at the point in time the project is completed. Certain of our content marketing consulting projects contain a second performance obligation for access to interactive tools over a specified license period, typically 12 or 24 months. The Company recognizes revenue for this performance obligation ratably over the license period.

Advisory services revenues are short-term presentations or knowledge sharing sessions (which can range from one hour to two days), such as speeches and advisory days. Each is a promise for a Forrester analyst to deliver a deeper understanding of Forrester’s published research and represents a single performance obligation. Revenue is recognized at the point in time the service is completed or the final deliverable is transferred to the customer, which is when the customer has received the benefit(s) of the service.

Events revenues

Events revenues consist of either ticket or sponsorship sales for Forrester-hosted events. Each is a single promise that either allows entry to, or grants the right to promote a product or service at, a specific event. The Company concluded that each of these represents a single performance obligation. The Company recognizes revenue at the completion of the event, which is the point in time when the customer has received the benefit(s) from attending or sponsoring the event.

Prepaid performance obligations

Prepaid performance obligations (including event tickets, reprints, consulting projects, and advisory services) on non-cancellable contracts, for which the Company estimates will expire unused, are recognized in proportion to the pattern of related rights

exercised by the customer. This assessment requires judgment, including estimating the percentage of prepaid rights that will go unexercised and anticipating the impact that future changes to products, pricing, and customer engagement will have on actual expirations. The Company updates estimates used to recognize unexercised rights on a quarterly basis.

Contract modifications

Consulting contracts are occasionally modified to update the scope of the services purchased. Since a consulting project is a single performance obligation that is only partially satisfied at the modification date, the updated project requirements are not distinct and the modification is accounted for as part of the existing contract. The effect of the modification on the transaction price and the Company’s measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenue (either an increase or decrease) on a cumulative catch-up basis. For the year ended December 31, 2023, the Company recorded an immaterial amount of cumulative catch-up adjustments.

Refer to Note 12 – Operating Segment and Enterprise Wide Reporting for a summary of disaggregated revenue by geographic region.

Accounts Receivable

Accounts receivable

Accounts receivable includes amounts billed and currently due from customers. Since the only condition for payment of the Company's invoices is the passage of time, the Company records a receivable on the date the invoice is issued. Also included in accounts receivable are unbilled amounts resulting from revenue exceeding the amount billed to the customer, where the right to payment is unconditional. If the right to payment for services performed was conditional on something other than the passage of time, the unbilled amount would be recorded as a separate contract asset. There were no contract assets as of December 31, 2023.

The majority of the Company’s contracts are non-cancelable. However, for contracts that are cancelable by the customer, the Company does not record a receivable when it issues an invoice. The Company records accounts receivable on these contracts only up to the amount of revenue earned but not yet collected.

In addition, since the majority of the Company’s contracts are invoiced for annual periods, and payment is expected within one year from the transfer of products and services, the Company does not adjust its receivables or transaction price for the effects of a significant financing component.

Deferred revenue

The Company refers to contract liabilities as deferred revenue in the Consolidated Balance Sheets. Payment terms in the Company’s customer contracts vary, but generally require payment in advance of fully satisfying the performance obligation(s). Deferred revenue consists of billings in excess of revenue recognized. Similar to accounts receivable, the Company does not record deferred revenue for unpaid invoices issued on a cancelable contract.

During the years ended December 31, 2023 and 2022, the Company recognized approximately $166.3 million and $189.2 million of revenue, respectively, related to its deferred revenue balance at January 1 of each such period.

Approximately $385.6 million of revenue is expected to be recognized during the next 24 months from remaining performance obligations as of December 31, 2023.

Cost To Obtain Contracts

Cost to Obtain Contracts

The Company capitalizes commissions paid to sales representatives and related fringe benefits costs that are incremental to obtaining customer contracts. These costs are included in deferred commissions in the Consolidated Balance Sheets. The Company elected the practical expedient to account for these costs at a portfolio level as the Company’s contracts are similar in nature and the amortization model used closely matches the amortization expense that would be recognized on a contract-by-contract basis. Costs to obtain a contract are amortized to earnings over the initial contract term, which is the same period the related revenue is recognized.

Amortization of the expense related to deferred commissions was $39.8 million, $45.9 million, and $43.9 million for the years ended December 31, 2023, 2022, and 2021, respectively, and is recorded in selling and marketing expenses in the Consolidated Statements of Operations. The Company evaluates the recoverability of deferred commissions at each balance sheet date and there were no impairments recorded during 2023, 2022, or 2021.

Leases

The Company determines whether an arrangement is a lease at inception of the arrangement. The Company accounts for a lease when it has the right to control the leased asset for a period of time while obtaining substantially all of the assets’ economic benefits. All of the Company’s leases are operating leases, the majority of which are for office space. Operating lease right-of-use ("ROU") assets and non-current operating lease liabilities are included as individual line items in the Consolidated Balance Sheets, while short-term operating lease liabilities are recorded within accrued expenses and other current liabilities.

Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The discount rate used to determine the present value of the lease payments is the Company’s incremental borrowing rate based on the information available at lease inception, as generally an implicit rate in the lease is not readily determinable. An operating lease ROU asset includes all lease payments, lease incentives and initial direct costs incurred. Some of the Company’s leases include options to extend or terminate the lease. When determining the lease term, these options are included in the measurement and recognition of the Company’s ROU assets and lease liabilities when it is reasonably certain that the Company will exercise the option(s). The Company considers various economic factors when making this determination, including, but not limited to, the significance of leasehold improvements incurred in the office space, the difficulty in replacing the asset, underlying contractual obligations, and specific characteristics unique to a particular lease.

Subsequent to entering into a lease arrangement, the Company reassesses the certainty of exercising options to extend or terminate a lease. When it becomes reasonably certain that the Company will exercise an option that was not included in the lease term, the Company accounts for the change in circumstances as a lease modification, which results in the remeasurement of the ROU asset and lease liability as of the modification date.

Lease expense for operating leases is recognized on a straight-line basis over the lease term based on the total lease payments (which include initial direct costs and lease incentives). The expense is included in operating expenses in the Consolidated Statements of Operations.

The Company’s lease agreements generally contain lease and non-lease components. Non-lease components are fixed charges stated in an agreement and primarily include payments for parking at the leased office facilities. The Company accounts for the lease and fixed payments for non-lease components as a single lease component under Topic 842, which increases the amount of the ROU assets and lease liabilities. Most of the Company’s lease agreements also contain variable payments, primarily maintenance-related costs, which are expensed as incurred and not included in the measurement of the ROU assets and lease liabilities.

Leases with an initial term of twelve months or less are not recorded in the Consolidated Balance Sheets and are not material.

Advertising Costs

The Company expenses advertising costs as incurred. Advertising expense for the years ended December 31, 2023, 2022, and 2021 was $1.7 million, $2.3 million, and $2.1 million, respectively. These expenses consisted primarily of online marketing and are included in selling and marketing expense in the Consolidated Statements of Operations.

Stock-Based Compensation

The Company recognizes the fair value of stock-based compensation expense over the requisite service period of the individual grantee, which generally equals the vesting period. Forfeitures are recognized as they occur and all income tax effects related to settlements of share-based payment awards are reported in earnings as an increase or decrease to income tax expense. All income tax-related cash flows resulting from share-based payments are reported as operating activities in the Consolidated Statements of Cash Flows and cash paid by directly withholding shares for tax withholding purposes is classified as a financing activity.

Stock-based compensation expense was recorded in the following expense categories (in thousands):


	Years Ended December 31,
	2023		2022		2021
Cost of services and fulfillment	$	9,068	$	8,435	$	6,057
Selling and marketing		2,943		2,774		1,698
General and administrative		3,475		3,334		2,315
Total	$	15,486	$	14,543	$	10,070


	Years Ended December 31,
	2023						2022			2021
	Equity Incentive Plans			Employee Stock Purchase Plan			Employee Stock Purchase Plan			Employee Stock Purchase Plan
Average risk-free interest rate		4.27	%		5.51	%		3.71	%		0.05	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	4.75 Years			0.5 Years			0.5 Years			0.5 Years
Expected volatility		43	%		35	%		33	%		30	%
Weighted average fair value	$	14.24		$	7.90		$	10.22		$	11.20

Expected volatility is based on the historical volatility of Forrester’s common stock as well as management’s expectations of future volatility over the expected term of the awards granted. The risk-free interest rate is based on the U.S. Treasury Constant Maturity rate with an equivalent remaining term. The expected term calculation is based upon the option period of the employee stock purchase plan, and for options, it is based upon Forrester's historical experience of exercise patterns.

The unamortized fair value of stock-based awards as of December 31, 2023 was $27.7 million with a weighted average remaining recognition period of 2.5 years.

Depreciation and Amortization

Forrester provides for depreciation and amortization of property and equipment, computed using the straight-line method, over their estimated useful lives of its assets as follows:


		Estimated
		Useful Life
Computers and equipment		3 to 10 Years
Computer software		3 to 5 Years
Furniture and fixtures		7 Years
Leasehold improvements		Shorter of asset life or lease term


		Estimated
		Useful Life
Customer relationships		5 to 9 Years
Technology		1 to 8 Years
Trademarks		6 to 8 Years

Income Taxes

Forrester recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statements and tax basis of assets and liabilities as well as operating loss carryforwards.

Forrester’s provision for income taxes is composed of a current and a deferred provision for federal, state, and foreign jurisdictions. The current provision is calculated as the estimated taxes payable or refundable on tax returns for the current year. The deferred provision is calculated as the net change during the year in deferred tax assets and liabilities. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax asset will not be realized.

Forrester accounts for uncertain tax positions using a “more-likely-than-not” threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity, and changes in facts or circumstances related to a tax position. The Company evaluates these tax positions on a quarterly basis. The Company also accrues for potential interest and penalties related to unrecognized tax benefits in income tax expense.

Net Income Per Common Share

Basic net income per common share is computed by dividing net income by the basic weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the diluted weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury-stock method. Common stock equivalents consist of common stock issuable upon the exercise of outstanding stock options and the vesting of restricted stock units.

Basic and diluted weighted average common shares are as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Basic weighted average common shares outstanding		19,183		18,967		19,110
Weighted average common equivalent shares		75		205		247
Diluted weighted average common shares outstanding		19,258		19,172		19,357
Options and restricted stock units excluded from diluted weighted average share calculation as effect would have been anti-dilutive		730		210		3

Recent Accounting Pronouncements

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Finance Reporting. The new standard provides optional guidance for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting due to the risk of cessation of the London Interbank Offered Rate (“LIBOR”). The updates apply to contracts, hedging relationships, and other transactions that reference LIBOR, or another reference rate expected to be discontinued because of reference rate reform, and as a result require a modification. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. The amendments in this update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in this update apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The standard has not impacted the Company’s financial position or results of operations, and will not have an impact in the future as the Company no longer has any financial instruments that reference LIBOR.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. The new standard enhances the disclosures of reportable segment information, primarily in regards to significant segment expenses. The new standard will be effective for the Company for the annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The new standard enhances income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and providing clarification on uncertain tax positions and related financial statement impacts. The new standard will be effective for the Company on January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of adoption of the standard on its consolidated financial statements.

Consolidated Statements of Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands

Total

Common Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Treasury Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Member]

Beginning Balance at Dec. 31, 2020

$ 185,766

$ 236

$ 230,128

$ 127,981

$ (171,889)

$ (690)

Beginning Balance, Shares at Dec. 31, 2020

23,648

4,631

Issuance of common stock under stock plans, including tax effects

5,792

$ 5

5,787

Issuance of common stock under stock plans, including tax effects, Shares

437

Repurchases of common stock

(20,066)

$ (20,066)

Repurchase of common stock, Shares

396

Stock-based compensation expense

10,070

Net Income (Loss)

24,844

Net change in interest rate swap, net of tax

609

Net change in marketable investments, net of tax

(25)

Foreign currency translation

(3,083)

^[1]

Ending Balance at Dec. 31, 2021

203,907

$ 241

245,985

152,825

$ (191,955)

(3,189)

Ending Balance, Shares at Dec. 31, 2021

24,085

5,027

Issuance of common stock under stock plans, including tax effects

1,241

$ 3

1,238

Issuance of common stock under stock plans, including tax effects, Shares

282

Repurchases of common stock

(15,112)

$ (15,112)

Repurchase of common stock, Shares

278

Stock-based compensation expense

14,543

Net Income (Loss)

21,806

Net change in interest rate swap, net of tax

212

Net change in marketable investments, net of tax

(134)

Foreign currency translation

(4,807)

^[1]

Ending Balance at Dec. 31, 2022

221,656

$ 244

261,766

174,631

$ (207,067)

(7,918)

Ending Balance, Shares at Dec. 31, 2022

24,367

5,305

Issuance of common stock under stock plans, including tax effects

808

$ 3

805

Issuance of common stock under stock plans, including tax effects, Shares

317

Repurchases of common stock

(4,082)

$ (4,082)

Repurchase of common stock, Shares

132

Stock-based compensation expense

15,486

Net Income (Loss)

3,050

Net change in marketable investments, net of tax

Foreign currency translation

3,248

^[1]

Ending Balance at Dec. 31, 2023

$ 240,265

$ 247

$ 278,057

$ 177,681

$ (211,149)

$ (4,571)

Ending Balance, Shares at Dec. 31, 2023

24,684

5,437

[1]	The Company does not record tax provisions or benefits for the net changes in foreign currency translation adjustments as it intends to permanently reinvest undistributed earnings of its foreign subsidiaries.

Fair Value Measurements - Summary of Company's Fair Value Hierarchy for its Financial Assets and Liabilities (Parenthetical) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Cash and cash equivalent [Member] \| U.S. Based Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	$ 23.5
Marketable investment [Member] \| Non-U.S. Based Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	$ 31.6

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenues	$ 480,779	$ 537,787	$ 494,315
Operating expenses:
Cost of services and fulfillment	204,484	223,773	201,815
Selling and marketing	167,352	181,940	170,949
General and administrative	68,497	67,655	58,056
Depreciation	8,452	9,269	9,390
Amortization of intangible assets	11,956	13,161	15,129
Integration costs	0	0	334
Restructuring costs	13,272	9,335	0
Total operating expenses	474,013	505,133	455,673
Income from operations	6,766	32,654	38,642
Interest expense	(3,060)	(2,461)	(4,222)
Other income (expense), net	2,371	222	(1,229)
Gains on investments, net	208	309	0
Income before income taxes	6,285	30,724	33,191
Income tax expense	3,235	8,918	8,347
Net income	$ 3,050	$ 21,806	$ 24,844
Basic income per common share	$ 0.16	$ 1.15	$ 1.3
Diluted income per common share	$ 0.16	$ 1.14	$ 1.28
Basic weighted average common shares outstanding	19,183	18,967	19,110
Diluted weighted average common shares outstanding	19,258	19,172	19,357
Research [Member]
Revenues:
Total revenues	$ 334,396	$ 354,453	$ 325,340
Consulting [Member]
Revenues:
Total revenues	118,228	152,587	156,114
Events [Member]
Revenues:
Total revenues	$ 28,155	$ 30,747	$ 12,861

Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Activity in Restructuring Accrual

The following table rolls forward the activity in the restructuring accrual for the January 2023 action for the year ended December 31, 2023 (in thousands):


Accrual at December 31, 2022	$	4,360
Additional restructuring and related costs		1,923
Non-cash charge (included above)		(1,360	)
Cash payments		(4,875	)
Accrual at December 31, 2023	$	48

The following table rolls forward the activity in the restructuring accrual for the May 2023 action for the year ended December 31, 2023 (in thousands):


Accrual at December 31, 2022	$	—
Additional restructuring and related costs		10,618
Non-cash charge (included above)		(2,253	)
Non-cash lease settlement gain (included above)		139
Cash payments		(7,222	)
Accrual at December 31, 2023	$	1,282

Operating Segment and Enterprise Wide Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Operating Segment and Enterprise Wide Reporting

Note 12 – 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.

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, 2023
Research revenues	$	334,396		$	—		$	—		$	334,396
Consulting revenues		28,826			89,402			—			118,228
Events revenues		—			—			28,155			28,155
Total segment revenues		363,222			89,402			28,155			480,779
Segment expenses		(132,444	)		(45,028	)		(20,557	)		(198,029	)
Selling, marketing, administrative and other expenses											(250,756	)
Amortization of intangible assets											(11,956	)
Restructuring costs											(13,272	)
Interest expense, other income, and gains on investments											(481	)
Income before income taxes										$	6,285



	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

Net long-lived tangible assets by location as of December 31, 2023 and 2022 are as follows (in thousands):


	2023		2022
United States	$	48,001	$	60,631
United Kingdom		8,194		8,678
Europe (excluding United Kingdom)		186		319
Asia Pacific		2,742		3,550
Total	$	59,123	$	73,178

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, 2023, 2022, and 2021 are as follows (dollars in thousands):


	2023		2022		2021
United States	$	373,483	$	426,041	$	381,662
Europe (excluding United Kingdom)		37,912		36,664		41,264
United Kingdom		21,311		20,079		21,913
Canada		16,416		20,759		17,213
Asia Pacific		23,604		26,548		26,768
Other		8,053		7,696		5,495
Total	$	480,779	$	537,787	$	494,315


	2023			2022			2021
United States		78	%		79	%		77	%
Europe (excluding United Kingdom)		8			7			9
United Kingdom		4			4			5
Canada		3			4			3
Asia Pacific		5			5			5
Other		2			1			1
Total		100	%		100	%		100	%

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

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-Subparagraph (a)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Income Taxes - Income Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (4,058)	$ 16,552	$ 22,424
Foreign	10,343	14,172	10,767
Income before income taxes	$ 6,285	$ 30,724	$ 33,191

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Subparagraph (c)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1 – Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidations

Management Estimates

Adoption of New Accounting Pronouncements

Fair Value Measurements

Cash, Cash Equivalents, and Marketable Investments

The Company did not realize any gains or losses from the Company's available-for-sale securities during the years ended December 31, 2023, 2022, and 2021.

Presentation of Restricted Cash


	For the Year Ended December 31,
	2023		2022
Cash and cash equivalents shown in balance sheets	$	72,909	$	103,629
Restricted cash classified in other assets (1):		2,133		2,025
Cash, cash equivalents and restricted cash shown in statement of cash flows	$	75,042	$	105,654

(1)

Concentrations of Credit Risk

Forrester does not have any off-balance sheet arrangements.

Business Acquisitions

Goodwill

selected November 30th as the date for performing the annual goodwill impairment test. Goodwill impairment charges have not been required for the years ended December 31, 2023, 2022 and 2021.

Impairment of Other Long-Lived Tangible and Intangible Assets

Non-Current Liabilities

The Company records deferred tax liabilities and other liabilities that are expected to be settled over a period that exceeds one year as non-current liabilities.

Foreign Currency

Revenue

The Company generates all of its revenues from contracts with customers, which totaled $480.8 million for the year ended December 31, 2023.

Research revenues

Consulting revenues

Events revenues

Prepaid performance obligations

Contract modifications

Refer to Note 12 – Operating Segment and Enterprise Wide Reporting for a summary of disaggregated revenue by geographic region.

Contract Assets and Liabilities

Accounts receivable

Deferred revenue

Approximately $385.6 million of revenue is expected to be recognized during the next 24 months from remaining performance obligations as of December 31, 2023.

Cost to Obtain Contracts

Leases

Leases with an initial term of twelve months or less are not recorded in the Consolidated Balance Sheets and are not material.

Advertising Costs

Stock-Based Compensation

Stock-based compensation expense was recorded in the following expense categories (in thousands):


	Years Ended December 31,
	2023		2022		2021
Cost of services and fulfillment	$	9,068	$	8,435	$	6,057
Selling and marketing		2,943		2,774		1,698
General and administrative		3,475		3,334		2,315
Total	$	15,486	$	14,543	$	10,070


	Years Ended December 31,
	2023						2022			2021
	Equity Incentive Plans			Employee Stock Purchase Plan			Employee Stock Purchase Plan			Employee Stock Purchase Plan
Average risk-free interest rate		4.27	%		5.51	%		3.71	%		0.05	%
Expected dividend yield		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	4.75 Years			0.5 Years			0.5 Years			0.5 Years
Expected volatility		43	%		35	%		33	%		30	%
Weighted average fair value	$	14.24		$	7.90		$	10.22		$	11.20

The unamortized fair value of stock-based awards as of December 31, 2023 was $27.7 million with a weighted average remaining recognition period of 2.5 years.

Depreciation and Amortization

Forrester provides for depreciation and amortization of property and equipment, computed using the straight-line method, over their estimated useful lives of its assets as follows:


		Estimated
		Useful Life
Computers and equipment		3 to 10 Years
Computer software		3 to 5 Years
Furniture and fixtures		7 Years
Leasehold improvements		Shorter of asset life or lease term


		Estimated
		Useful Life
Customer relationships		5 to 9 Years
Technology		1 to 8 Years
Trademarks		6 to 8 Years

Income Taxes

Net Income Per Common Share

Basic and diluted weighted average common shares are as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Basic weighted average common shares outstanding		19,183		18,967		19,110
Weighted average common equivalent shares		75		205		247
Diluted weighted average common shares outstanding		19,258		19,172		19,357
Options and restricted stock units excluded from diluted weighted average share calculation as effect would have been anti-dilutive		730		210		3

Recent Accounting Pronouncements

Stockholders' Equity - Schedule of Components of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Accumulated other comprehensive income (loss), unrealized gain (loss) before reclassification, net of tax	$ (33)	$ (10)	$ (6)
Accumulated other comprehensive income (loss), reclassification of AOCI/L to income, net of tax		$ (28)	$ (227)

Derivatives and Hedging - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019 USD ($)
Derivatives Fair Value [Line Items]
Derivative maturity year	2022
Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Derivative notional amount	$ 95,000,000
Derivative fixed interest rate	1.65275%
Interest Rate Swap [Member] \| Minimum
Derivatives Fair Value [Line Items]
Derivative receive rate	0.00%
Interest Rate Swap [Member] \| LIBOR [Member]
Derivatives Fair Value [Line Items]
Derivative basis rate	0.0625%

Employee Pension Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Employee Pension Plans

Note 10 – Employee Pension Plans

Forrester sponsors several defined contribution plans for eligible employees. Generally, the defined contribution plans have funding provisions which, in certain situations, require contributions based upon formulas relating to employee wages or the level of elective participant contributions, as well as allow for additional discretionary contributions. Further, certain plans contain vesting provisions. Forrester’s contributions to these plans totaled approximately $7.8 million, $8.2 million, $6.5 million for the years ended December 31, 2023, 2022, and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
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-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

Note 15 – Subsequent Events

In February 2024, the Company implemented a reduction in force of approximately 3% of its workforce across various geographies and functions to better align its cost structure with the revenue outlook for the year. In addition, the Company will close its offices located at 150 Spear Street, San Francisco, California and replace it with a shorter term, flexible space to reduce facility costs. The Company anticipates total costs for this action to be in a range of $7.3 million to $7.7 million, inclusive of non-cash lease impairment costs of approximately $3.8 million, with the majority of the cash costs to be expended in 2024.

Acquisitions - Summary of Fair Value of Aggregate Consideration Paid (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Total	$ 0	$ 0	$ 0

Leases - Summary of Lease Balances (Detail) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Leases [Abstract]

Operating lease ROU assets

$ 39,722

$ 49,970

Short-term operating lease liabilities

$ 14,181

^[1]

$ 13,632

Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]

Accrued expenses and other current liabilities

Non-current operating lease liabilities

$ 37,673

$ 50,751

Total operating lease liabilities

$ 51,854

[1]	Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 7 – Fair Value Measurements

The Company has certain financial assets and liabilities which have been classified as either Level 1, 2, or 3 within the fair value hierarchy as described below.

Level 1 — Fair value based on quoted prices in active markets for identical assets or liabilities.

Level 2 — Fair value based on inputs other than Level 1 inputs that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Fair value based on unobservable inputs that are supported by little or no market activity and such inputs are significant to the fair value of the assets or liabilities.

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	As of December 31, 2023
	Level 1		Level 2		Total
Assets:
Money market funds (1)	$	55,128	$	—	$	55,128
Marketable investments (3)		—		19,970		19,970
Total Assets	$	55,128	$	19,970	$	75,098


	As of December 31, 2022
	Level 1		Level 2		Total
Assets:
Money market funds (2)	$	5,800	$	—	$	5,800
Marketable investments (3)		—		19,688		19,688
Total Assets	$	5,800	$	19,688	$	25,488

(1)

U.S. based funds of $23.5 million are included in cash and cash equivalents and non-U.S. based funds of $31.6 million included in marketable investments in the Consolidated Balance Sheets.

(2)

Represents U.S. based funds and are included in cash and cash equivalents in the Consolidated Balance Sheets.

(3)

During the years ended December 31, 2023 and 2022, the Company did not transfer assets or liabilities between levels of the fair value hierarchy. Additionally, there have been no changes to the valuation techniques for Level 2 assets and liabilities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Unvested, Beginning Balance	682
Number of Shares, Granted	695
Number of Shares, Vested	(271)
Number of Shares, Forfeited	(107)
Number of Shares, Unvested, Ending Balance	999	682
Weighted-Average Grant Date Fair Value, Unvested, Beginning Balance	$ 46.28
Weighted-Average Grant Date Fair Value, Granted	32.82	$ 50.37	$ 46.64
Weighted-Average Grant Date Fair Value, Vested	44.95
Weighted-Average Grant Date Fair Value, Forfeited	42.72
Weighted-Average Grant Date Fair Value, Unvested, Ending Balance	$ 37.66	$ 46.28

Debt - Summary of Company's Total Outstanding Borrowings (Detail) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Dec. 21, 2021

Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Principal amount outstanding

$ 35,000

^[1],[2],[3]

$ 50,000

^[1],[2],[3]

$ 75,000

[1]	The Company had $114.4 million of available borrowing capacity on the Revolving Credit Facility (not including the expansion feature) as of December 31, 2023.
[2]	The contractual annualized interest rate as of December 31, 2023 on the Revolving Credit Facility was 6.70596%.
[3]	The weighted average annual effective rate on the Company's total debt outstanding for the years ended December 31, 2023 and 2022 was 6.3% and 2.9%, respectively.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income Taxes - Components of the Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 3,867	$ 9,349	$ 4,203
State	1,922	3,819	2,272
Foreign	2,907	2,402	2,147
Total current	8,696	15,570	8,622
Deferred:
Federal	(3,872)	(5,513)	334
State	(1,597)	(1,788)	(663)
Foreign	8	649	54
Total deferred	(5,461)	(6,652)	(275)
Income tax expense	$ 3,235	$ 8,918	$ 8,347

Stockholders' Equity - Summary of Shares Purchased by Employees Under the Stock Purchase Plan (Detail) - $ / shares shares in Thousands	6 Months Ended
	Aug. 31, 2023	Feb. 28, 2023	Aug. 31, 2022	Feb. 28, 2022
Share-Based Payment Arrangement [Abstract]
Shares Purchased	63	63	54	41
Purchase Price	$ 26.04	$ 27.96	$ 35.35	$ 40.50

Operating Segment and Enterprise Wide Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Information 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, 2023
Research revenues	$	334,396		$	—		$	—		$	334,396
Consulting revenues		28,826			89,402			—			118,228
Events revenues		—			—			28,155			28,155
Total segment revenues		363,222			89,402			28,155			480,779
Segment expenses		(132,444	)		(45,028	)		(20,557	)		(198,029	)
Selling, marketing, administrative and other expenses											(250,756	)
Amortization of intangible assets											(11,956	)
Restructuring costs											(13,272	)
Interest expense, other income, and gains on investments											(481	)
Income before income taxes										$	6,285



	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

Schedule of Net Long-lived Tangible Assets by Location

Net long-lived tangible assets by location as of December 31, 2023 and 2022 are as follows (in thousands):


	2023		2022
United States	$	48,001	$	60,631
United Kingdom		8,194		8,678
Europe (excluding United Kingdom)		186		319
Asia Pacific		2,742		3,550
Total	$	59,123	$	73,178

Schedule of Revenues by Geographic Destination, Based on Location Products and Services and as a Percentage of Total Revenues


	2023		2022		2021
United States	$	373,483	$	426,041	$	381,662
Europe (excluding United Kingdom)		37,912		36,664		41,264
United Kingdom		21,311		20,079		21,913
Canada		16,416		20,759		17,213
Asia Pacific		23,604		26,548		26,768
Other		8,053		7,696		5,495
Total	$	480,779	$	537,787	$	494,315


	2023			2022			2021
United States		78	%		79	%		77	%
Europe (excluding United Kingdom)		8			7			9
United Kingdom		4			4			5
Canada		3			4			3
Asia Pacific		5			5			5
Other		2			1			1
Total		100	%		100	%		100	%

Goodwill and Other Intangible Assets - Summary of Estimated Intangible Assets Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2024	$ 9,955
2025	8,881
2026	8,396
2027	8,324
2028	2,081
Total	$ 37,637	$ 49,504

Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Note 14 – Contingencies

From time to time, the Company may be subject to legal proceedings and civil and regulatory claims that arise in the ordinary course of its business activities. It is the Company's policy to record accruals for legal contingencies to the extent that it has concluded that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated, and to expense costs associated with loss contingencies, including any related legal fees, as they are incurred. The Company reviews its loss contingencies at least quarterly and adjusts its accruals and/or disclosures to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, or other new information, as deemed necessary. Once established, a provision may change in the future due to new developments or changes in circumstances and could increase or decrease the Company’s earnings in the period that the changes are made. Following an April 2023 mediation in a wage-related matter that resulted in a settlement agreement, the Company accrued $4.8 million of expense in the quarter ended March 31, 2023 that is classified in general and administrative expense in the Consolidated Statement of Operations.

The Company believes that it has meritorious defenses in connection with its current legal proceedings and claims and intends to vigorously contest each of them. Regardless of the outcome, legal proceedings and claims can have a material adverse effect on the Company because of defense and settlement costs, diversion of management resources, and other factors.

In the opinion of the Company's management, based upon information currently available to the Company, while the outcome of these legal proceedings and claims is uncertain, the likely results of these legal proceedings and claims are not expected, either individually or in the aggregate, to have a material adverse effect on the Company's financial position, results of operations or cash flows, although the effect could be material to the Company's consolidated results of operations or consolidated cash flows for any interim reporting period.

Certain Balance Sheet Accounts - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property and equipment	$ 83,463	$ 89,236
Less accumulated depreciation	(64,062)	(66,028)
Total property and equipment, net	19,401	23,208
Computers and Equipment [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	10,128	14,303
Computer Software [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	34,641	34,903
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	9,188	9,745
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	$ 29,506	$ 30,285

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for expected credit losses	$ 574	$ 560
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	24,684,000	24,367,000
Common stock, shares outstanding	19,248,000	19,062,000
Treasury stock, shares	5,437,000	5,305,000

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 04, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	FORR
Entity Registrant Name	Forrester Research, Inc.
Entity Central Index Key	0001023313
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,394,000
Entity Public Float			$ 340,000,000
Document Annual Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity File Number	000-21433
Entity Tax Identification Number	04-2797789
Entity Address, Address Line One	60 Acorn Park Drive
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02140
City Area Code	617
Local Phone Number	613-6000
Title of 12(b) Security	Common Stock, $0.01 Par Value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	238

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($) Customer ConsumerandBusinessLeader shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020
Summary Of Significant Accounting Policy [Line Items]
Number of real time feedback votes included in annual surveys \| Customer	100
Change in accounting principle, accounting standards update, adopted	true
Lease package practical expedients				true
Original maturities	90 days
Number of customers accounted for revenues or accounts receivable greater than 3% or 3% of total \| Customer	0
Annual goodwill impairment test, period	November 30th
Business combination amount	$ 0	$ 0	$ 0
Goodwill impairment charges	0	0	0
Long-lived asset impairment charges	$ 2,600,000	5,000,000	0
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	Property And Equipment Write Offs And Impairments
Foreign exchange losses	$ (300,000)	(200,000)	(1,400,000)
Revenue from Contract with Customer, Excluding Assessed Tax	$ 480,779,000	537,787,000	494,315,000
Specified license period	12 or 24 months
Contract assets	$ 0
Deferred revenue recognized	166,300,000	189,200,000
Revenue expected to be recognized	385,600,000
Amortization expense related to deferred commissions	39,800,000	45,900,000	43,900,000
Impairment of deferred commissions	$ 0	0	0
Option to extend description	Some of the Company’s leases include options to extend or terminate the lease. When determining the lease term, these options are included in the measurement and recognition of the Company’s ROU assets and lease liabilities when it is reasonably certain that the Company will exercise the option(s).
Advertising expense	$ 1,700,000	$ 2,300,000	$ 2,100,000
Stock options granted \| shares	144,000	0	0
Unamortized fair value stock based compensation	$ 27,700,000
Weighted average remaining recognition period	2 years 6 months
Research Service Revenue [Member] \| Customer Concentration Risk [Member] \| Major Customer [Member]
Summary Of Significant Accounting Policy [Line Items]
Customer accounted for percentage	4.00%
Topic 842 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
ASU No. 2019-12 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
Minimum
Summary Of Significant Accounting Policy [Line Items]
Number of consumers and business leaders and technology leaders included in annual surveys \| ConsumerandBusinessLeader	700,000
Consulting services period	14 days
Advisory services period	1 hour
Maximum
Summary Of Significant Accounting Policy [Line Items]
Consulting services period	3 months
Advisory services period	2 days
Contract with customer, expected payment term	one year

Restructuring - Schedule of Activity in Restructuring Accrual (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Accrual at December 31, 2023	$ 1,300
Workforce reduction in january two thousand twenty three
Restructuring Cost and Reserve [Line Items]
Accrual at December 31, 2022	4,360
Additional restructuring and related costs	1,923
Non-cash charge (included above)	(1,360)
Cash payments	(4,875)
Accrual at December 31, 2023	48
Workforce reduction in may two thousand twenty three
Restructuring Cost and Reserve [Line Items]
Accrual at December 31, 2022	0
Additional restructuring and related costs	10,618
Non-cash charge (included above)	(2,253)
Non-cash lease settlement gain (included above)	139
Cash payments	(7,222)
Accrual at December 31, 2023	$ 1,282

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

Note 4 – Debt

Amended Credit Agreement

On December 21, 2021, the Company and certain of its subsidiaries entered into an amendment of its existing credit facility, dated as of January 3, 2019, with JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), and the lenders party thereto (the "Existing Credit Agreement" and the Existing Credit Agreement as amended by the Amendment, the "Amended Credit Agreement").

The Existing Credit Agreement was amended to, among other things, (a) increase the aggregate principal amount of revolving credit commitments (the "Revolving Credit Facility") from $75.0 million to $150.0 million and eliminate the existing term loan facility, (b) extend the scheduled maturity date of the revolving credit commitments to December of 2026, (c) reduce the applicable margin with respect to revolving loans to, at Forrester’s option, (i) between 1.25% and 1.75% per annum for loans based on LIBOR and (ii) between 0.25% and 0.75% per annum for loans based on the applicable base rate, in each case, based on Forrester’s consolidated total leverage ratio, (d) reduce the commitment fee applicable to undrawn revolving credit commitments to between 0.30% and 0.20% per annum based on the Company's consolidated total leverage ratio, (e) replace the minimum fixed charge coverage ratio financial covenant under the Existing Credit Agreement with a minimum consolidated interest coverage ratio of 3.50:1.00, and (f) include a covenant limiting the amount of capital expenditures made by the Company in each fiscal year.

On December 21, 2021, the Company converted the $100.0 million outstanding term loan amounts under the Existing Credit Agreement to $100.0 million outstanding on the Revolving Credit Facility as the lenders remained the same under both facilities. The Amended Credit Agreement permits the Company to increase commitments under the Revolving Credit Facility in an aggregate principal amount up to $50.0 million, subject to approval by the Administrative Agent and certain customary terms and conditions.

The Company may voluntarily prepay revolving loans under the credit facility at any time and from time to time, without premium or penalty. No interim amortization payments are required to be made under the credit facility.

The Amended Credit Agreement provides that once LIBOR ceases to exist in 2023, the benchmark rate for the Revolving Credit Facility will automatically transfer from LIBOR to the Secured Overnight Financing Rate (SOFR). In April 2023, the Company

executed a second amendment to the credit facility to facilitate the conversion from LIBOR to SOFR and to set the base interest rate at SOFR plus 10 basis points.

Up to $5.0 million of the Revolving Credit Facility is available for the issuance of letters of credit, and any drawings under the letters of credit must be reimbursed within one business day. As of December 31, 2023, $0.6 million in letters of credit were issued under the Revolving Credit Facility.

The Company incurred $0.5 million in costs related to the issuance of the Revolving Credit Facility under the Amended Credit Agreement, which are included in other assets in the Consolidated Balance Sheets. These costs are being amortized on a straight-line basis over the five-year term of the Revolving Credit Facility and are included in interest expense in the Consolidated Statements of Operations. The Amended Credit Agreement was accounted for as a debt modification and thus no existing debt issuance costs were written off to interest expense as a result of the modification.

Existing Credit Agreement

Prior to December 21, 2021, the Company had a credit facility that provided for a $125.0 million Term Loan A facility and a $75.0 million Revolving Credit Facility. The term loan amounts outstanding under the Existing Credit Agreement were repaid when the Company entered into the Amended Credit Agreement on December 21, 2021.

Outstanding Borrowings

The following table summarizes the Company’s total outstanding borrowings as of the dates indicated (in thousands):


Description:	December 31, 2023		December 31, 2022
Revolving credit facility (1) (2) (3)	$	35,000	$	50,000

(1)

The contractual annualized interest rate as of December 31, 2023 on the Revolving Credit Facility was 6.70596%.

(2)

The Company had $114.4 million of available borrowing capacity on the Revolving Credit Facility (not including the expansion feature) as of December 31, 2023.

(3)

The weighted average annual effective rate on the Company's total debt outstanding for the years ended December 31, 2023 and 2022 was 6.3% and 2.9%, respectively.

The Amended Credit Agreement contains certain customary restrictive loan covenants, including among others, financial covenants that apply a maximum leverage ratio, minimum interest coverage ratio, and maximum annual capital expenditures. The negative covenants limit, subject to various exceptions, the Company’s ability to incur additional indebtedness, create liens on assets, merge, consolidate, liquidate or dissolve any part of the Company, sell assets, change fiscal year, or enter into certain transactions with affiliates and subsidiaries. The Company was in full compliance with the covenants as of December 31, 2023. The Facility also contains customary events of default, representations, and warranties.

All obligations under the Amended Credit Agreement are unconditionally guaranteed by each of the Company’s existing and future, direct and indirect, material wholly-owned domestic subsidiaries, other than certain excluded subsidiaries, and are collateralized by a first priority lien on substantially all tangible and intangible assets, including intellectual property, and all of the capital stock of the Company and its subsidiaries (limited to 65% of the voting equity of certain subsidiaries).

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment losses	$ 0
Amortization of intangible assets	$ 11,956,000	$ 13,161,000	$ 15,129,000

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill by Segment and Changes in Carrying Amount of Goodwill

A summary of goodwill by segment and the changes in the carrying amount of goodwill is shown in the following table (in thousands):


	Research Segment			Consulting Segment			Total
Balance at December 31, 2021	$	236,770		$	8,224		$	244,994
Foreign currency translation adjustments		(2,750	)		(95	)		(2,845	)
Balance at December 31, 2022		234,020			8,129			242,149
Foreign currency translation adjustments		2,038			70			2,108
Balance at December 31, 2023	$	236,058		$	8,199		$	244,257

Summary of Intangible Assets

A summary of Forrester’s intangible assets is as follows (in thousands):


	December 31, 2023
	Gross				Net
	Carrying		Accumulated		Carrying
	Amount		Amortization		Amount
Amortizable intangible assets:
Customer relationships	$	77,640	$	42,091	$	35,549
Technology		16,524		15,950		574
Trademarks		12,519		11,005		1,514
Total	$	106,683	$	69,046	$	37,637


	December 31, 2022
	Gross				Net
	Carrying		Accumulated		Carrying
	Amount		Amortization		Amount
Amortizable intangible assets:
Customer relationships	$	77,786	$	33,805	$	43,981
Technology		16,803		14,696		2,107
Trademarks		12,472		9,056		3,416
Total	$	107,061	$	57,557	$	49,504

Summary of Estimated Intangible Assets Amortization Expense

Estimated intangible asset amortization expense for each of the five succeeding years is as follows (in thousands):


2024	$	9,955
2025		8,881
2026		8,396
2027		8,324
2028		2,081
Total	$	37,637

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Employee Pension Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Contribution to defined contribution plans	$ 7.8	$ 8.2	$ 6.5

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 3,050	$ 21,806	$ 24,844
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	8,452	9,269	9,390
Impairment of property and equipment	726	1,296	0
Amortization of intangible assets	11,956	13,161	15,129
Net gains from investments	(208)	(309)	0
Deferred income taxes	(5,461)	(6,652)	(275)
Stock-based compensation	15,486	14,543	10,070
Operating lease right-of-use assets amortization and impairments	11,658	14,511	11,415
Amortization of deferred financing fees	446	443	920
Amortization of premium (discount) on investments	(300)	(3)	65
Foreign currency losses	254	239	1,439
Changes in assets and liabilities
Accounts receivable	14,715	12,835	(3,898)
Deferred commissions	1,352	5,070	(6,010)
Prepaid expenses and other current assets	6,020	4,374	(1,283)
Accounts payable	1,428	(461)	201
Accrued expenses and other liabilities	(10,644)	(6,102)	20,426
Deferred revenue	(23,279)	(31,656)	36,007
Operating lease liabilities	(13,978)	(12,939)	(11,373)
Net cash provided by operating activities	21,673	39,425	107,067
Cash flows from investing activities:
Purchases of property and equipment	(5,495)	(5,663)	(10,745)
Purchases of marketable investments	(61,068)	(28,683)	(21,607)
Proceeds from maturities of marketable investments	28,338	27,331	2,000
Proceeds from sales of marketable investments	1,453	0	1,000
Other investing activity	13	201	56
Net cash used in investing activities	(36,759)	(6,814)	(29,296)
Cash flows from financing activities:
Payments on borrowings	(15,000)	(25,000)	(34,375)
Payment of debt issuance costs	(25)	0	(494)
Repurchases of common stock	(4,082)	(15,112)	(20,066)
Proceeds from issuance of common stock under employee equity incentive plans	3,489	4,352	9,165
Taxes paid for net share settlements of stock-based compensation awards	(2,681)	(3,111)	(3,373)
Net cash used in financing activities	(18,299)	(38,871)	(49,143)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2,773	(6,117)	(1,249)
Net increase (decrease) in cash, cash equivalents and restricted cash	(30,612)	(12,377)	27,379
Cash, cash equivalents and restricted cash, beginning of year	105,654	118,031	90,652
Cash, cash equivalents and restricted cash, end of year	75,042	105,654	118,031
Supplemental disclosure of cash flow information:
Cash paid for interest	2,596	2,015	3,279
Cash paid for income taxes	$ 10,643	$ 8,901	$ 9,815

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 3 – Goodwill and Other Intangible Assets

A summary of goodwill by segment and the changes in the carrying amount of goodwill is shown in the following table (in thousands):


	Research Segment			Consulting Segment			Total
Balance at December 31, 2021	$	236,770		$	8,224		$	244,994
Foreign currency translation adjustments		(2,750	)		(95	)		(2,845	)
Balance at December 31, 2022		234,020			8,129			242,149
Foreign currency translation adjustments		2,038			70			2,108
Balance at December 31, 2023	$	236,058		$	8,199		$	244,257

The Company performed its annual impairment test as of November 30, 2023 utilizing a quantitative assessment to determine if the fair values of each of its reporting units was less than their respective carrying values, and concluded that no impairments existed.

As of December 31, 2023, the Company had no accumulated goodwill impairment losses and the Consulting reporting unit had a negative carrying value.

A summary of Forrester’s intangible assets is as follows (in thousands):


	December 31, 2023
	Gross				Net
	Carrying		Accumulated		Carrying
	Amount		Amortization		Amount
Amortizable intangible assets:
Customer relationships	$	77,640	$	42,091	$	35,549
Technology		16,524		15,950		574
Trademarks		12,519		11,005		1,514
Total	$	106,683	$	69,046	$	37,637


	December 31, 2022
	Gross				Net
	Carrying		Accumulated		Carrying
	Amount		Amortization		Amount
Amortizable intangible assets:
Customer relationships	$	77,786	$	33,805	$	43,981
Technology		16,803		14,696		2,107
Trademarks		12,472		9,056		3,416
Total	$	107,061	$	57,557	$	49,504

Amortization expense related to intangible assets was approximately $12.0 million, $13.2 million, and $15.1 million during the years ended December 31, 2023, 2022, and 2021, respectively. Estimated intangible asset amortization expense for each of the five succeeding years is as follows (in thousands):


2024	$	9,955
2025		8,881
2026		8,396
2027		8,324
2028		2,081
Total	$	37,637

Marketable Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Company's Marketable Investments

The following table summarizes the Company’s marketable investments (in thousands):


	As of December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	18,049	$	—	$	(72	)	$	17,977
Federal agency obligations		2,000		—		(7	)		1,993
Money market funds		31,610		—		—			31,610
Total	$	51,659	$	—	$	(79	)	$	51,580


	As of December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Corporate obligations	$	17,900	$	8	$	(205	)	$	17,703
Federal agency obligations		1,999		—		(14	)		1,985
Total	$	19,899	$	8	$	(219	)	$	19,688

Summarizes the Maturity Periods of Marketable Investments

The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of December 31, 2023 (in thousands):


	2024		2025		Total
Corporate obligations	$	16,037	$	1,940	$	17,977
Federal agency obligations		1,993		—		1,993
Money market funds		31,610		—		31,610
Total	$	49,640	$	1,940	$	51,580

Unrealized Losses on Debt Investments


	As of December 31, 2023
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	13,098	$	8	$	4,879	$	64
Federal agency obligations		—		—		1,993		7
Total	$	13,098	$	8	$	6,872	$	71


	As of December 31, 2022
	Less Than 12 Months				12 Months or Greater
	Market		Unrealized		Market		Unrealized
	Value		Losses		Value		Losses
Corporate obligations	$	9,619	$	139	$	8,084	$	66
Federal agency obligations		1,985		14		—		—
Total	$	11,604	$	153	$	8,084	$	66

Income Taxes - Reconciliation of the Federal Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax provision at federal statutory rate	21.00%	21.00%	21.00%
Increase (decrease) in tax resulting from:
State tax provision, net of federal benefit	8.10%	5.20%	3.80%
Foreign tax rate differential	2.70%	(0.50%)	(0.40%)
Stock compensation	17.50%	0.90%	(0.40%)
Withholding taxes	6.20%	1.70%	1.30%
Non-deductible expenses	8.10%	1.50%	0.00%
Permanent differences	(1.70%)	(0.30%)	(0.30%)
Change in valuation allowance	0.50%	1.00%	0.00%
Foreign subsidiary income subject to U.S. tax	1.20%	1.30%	0.20%
Foreign-derived intangible income benefit	(3.80%)	(0.70%)	(0.70%)
Change in tax legislation	(8.10%)	(1.60%)	(0.30%)
Foreign exchange gain on previously taxed earnings and profits	1.60%	0.00%	0.00%
Other, net	(1.80%)	(0.50%)	0.90%
Effective tax rate	51.50%	29.00%	25.10%

Leases - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
ROU asset impairments and accelerated amortization	$ 1.3	$ 3.7
Leasehold impairments	$ 0.6	$ 1.3
Leasehold Improvements [Member]
Lessee Lease Description [Line Items]
ROU asset impairments and accelerated amortization			$ 1.9
Leasehold impairments			$ 0.7
Leasehold Improvements [Member] \| California [Member]
Lessee Lease Description [Line Items]
ROU asset impairments and accelerated amortization				$ 3.7
Leasehold impairments				$ 1.3

Acquisitions - Summary of Fair Value of Aggregate Consideration Payable (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Total	$ 0	$ 0	$ 0

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Company's Total Outstanding Borrowings

The following table summarizes the Company’s total outstanding borrowings as of the dates indicated (in thousands):


Description:	December 31, 2023		December 31, 2022
Revolving credit facility (1) (2) (3)	$	35,000	$	50,000

(1)

The contractual annualized interest rate as of December 31, 2023 on the Revolving Credit Facility was 6.70596%.

(2)

The Company had $114.4 million of available borrowing capacity on the Revolving Credit Facility (not including the expansion feature) as of December 31, 2023.

(3)

The weighted average annual effective rate on the Company's total debt outstanding for the years ended December 31, 2023 and 2022 was 6.3% and 2.9%, respectively.

Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring

Note 11 – Restructuring

In January 2023, the Company implemented a reduction in its workforce of approximately 4% across various geographies and functions to streamline operations. The Company recorded $4.3 million of severance and related costs for this action during the fourth quarter of 2022, and $0.6 million during the first quarter of 2023. The Company also recorded a restructuring charge of $5.0 million during the fourth quarter of 2022 related to closing one floor of its offices located at 150 Spear Street, San Francisco, California, of which $3.7 million related to an impairment of a right-of-use asset and $1.3 million related to an impairment of leasehold improvements. In the first quarter of 2023, the Company recorded an incremental $0.4 million impairment to its California office and a $0.6 million charge for the write-off of a previously capitalized software project. In the fourth quarter of 2023, the Company also recorded an additional impairment of $0.4 million to its California office. Essentially all of the severance and related costs for this plan was paid during 2023.

The following table rolls forward the activity in the restructuring accrual for the January 2023 action for the year ended December 31, 2023 (in thousands):


Accrual at December 31, 2022	$	4,360
Additional restructuring and related costs		1,923
Non-cash charge (included above)		(1,360	)
Cash payments		(4,875	)
Accrual at December 31, 2023	$	48

In May 2023, the Company implemented a reduction in its workforce of approximately 8% across various geographies and functions to better align its cost structure and to streamline its sales and consulting organizations. The Company recorded $7.5 million of severance and related costs for this action during the second quarter of 2023. In addition, the Company closed certain of its smaller offices both inside and outside the U.S. in order to reduce facility costs and better match its facilities to its hybrid work strategy. As a

result of closing the offices, the Company recorded restructuring costs of $2.3 million, which included $1.3 million related to right-of-use asset impairments and accelerated amortization and $0.6 million related to impairments of leasehold improvements. In addition, the Company incurred $0.7 million in contract termination costs. The remaining $1.3 million of severance and related costs for this plan will be paid during 2024.

The following table rolls forward the activity in the restructuring accrual for the May 2023 action for the year ended December 31, 2023 (in thousands):


Accrual at December 31, 2022	$	—
Additional restructuring and related costs		10,618
Non-cash charge (included above)		(2,253	)
Non-cash lease settlement gain (included above)		139
Cash payments		(7,222	)
Accrual at December 31, 2023	$	1,282

In February 2024, the Company implemented a reduction in force of approximately 3% of its workforce across various geographies and functions to better align its cost structure with the revenue outlook for the year. Notification to affected persons commenced in December 2023 and was completed by the end of February 2024. Approximately $0.7 million of severance and related costs for this action were recorded during the fourth quarter of 2023. See Note 15 - Subsequent Events, for additional details of this action.

Marketable Investments - Summary of Company's Marketable Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 51,659	$ 19,899
Gross Unrealized Gains	0	8
Gross Unrealized Losses	(79)	(219)
Market value	51,580	19,688
Money Market Funds [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	31,610
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Market value	31,610
Corporate Obligations [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	18,049	17,900
Gross Unrealized Gains	0	8
Gross Unrealized Losses	(72)	(205)
Market value	17,977	17,703
Federal Agency Obligations [Member]
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	2,000	1,999
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(7)	(14)
Market value	$ 1,993	$ 1,985

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Marketable Investments - Summarizes the Maturity Periods of Marketable Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
FY2024	$ 49,640
FY2025	1,940
Total	51,580	$ 19,688
Money Market Funds [Member]
Marketable Securities [Line Items]
FY2024	31,610
FY2025	0
Total	31,610
Corporate Obligations [Member]
Marketable Securities [Line Items]
FY2024	16,037
FY2025	1,940
Total	17,977	17,703
Federal Agency Obligations [Member]
Marketable Securities [Line Items]
FY2024	1,993
FY2025	0
Total	$ 1,993	$ 1,985

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Components of Lease Expense

The components of lease expense were as follows (in thousands):


	Year Ended			Year Ended			Year Ended
	December 31, 2023			December 31, 2022			December 31, 2021
Operating lease cost	$	12,671		$	14,284		$	15,527
Short-term lease cost		981			754			439
Variable lease cost		4,394			5,416			5,582
Sublease income		(521	)		(746	)		(549	)
Total lease cost	$	17,525		$	19,708		$	20,999

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):


	Year Ended			Year Ended
	December 31, 2023			December 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	13,839		$	12,939
Operating ROU assets obtained in exchange for lease obligations	$	1,110		$	323
Weighted-average remaining lease term - operating leases (years)		4.3			5.1
Weighted-average discount rate - operating leases		4.3	%		4.3	%

Summary of Future Minimum Lease Payments and Sublease Cash Receipts Under Non-Cancelable Leases

Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of December 31, 2023 are as follows (in thousands):


	Operating Lease			Sublease
	Payments			Cash Receipts
2024	$	16,001		$	624
2025		13,899			—
2026		12,344			—
2027		5,724			—
2028		2,889			—
Thereafter		6,049			—
Total lease payments		56,906		$	624
Less imputed interest		(5,052	)
Present value of lease liabilities	$	51,854

Summary of Lease Balances

Lease balances are as follows (in thousands):


	As of
	December 31, 2023
Operating lease ROU assets	$	39,722

Short-term operating lease liabilities (1)	$	14,181
Non-current operating lease liabilities		37,673
Total operating lease liabilities	$	51,854

(1)

Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Summary of Significant Accounting Policies - Summary of Stock-Based Compensation Expense Recorded in Expense Categories (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	$ 15,486	$ 14,543	$ 10,070
Cost of Services and Fulfillment [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	9,068	8,435	6,057
Selling and Marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	2,943	2,774	1,698
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	$ 3,475	$ 3,334	$ 2,315

Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Contracts Amounts Recognized in Consolidated Statement of Operations

The table below provides information regarding amounts recognized in the Consolidated Statements of Operations for derivative contracts for the periods indicated (in thousands):


	For the Year Ended December 31,
Amount recorded in:	2023			2022			2021
Interest expense (1)	$	—		$	(103	)	$	(807	)
Other income (expense), net (2)		(13	)		(194	)		(90	)
Total	$	(13	)	$	(297	)	$	(897	)

(1)

Consists of interest expense from the interest rate swap contract.

(2)

Consists of net realized losses on foreign currency forward contracts.

Marketable Investments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Realized gains or losses on investments	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies - Additional Information1 (Detail)	Dec. 31, 2023
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Summary Of Significant Accounting Policy [Line Items]
Performance obligation, revenue expected to be recognized	24 months

Derivatives and Hedging - Schedule of Derivative Contracts Amounts Recognized in Consolidated Statement of Operations (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Derivative Instruments Gain Loss [Line Items]

Amount recorded in operations

$ (13)

$ (297)

$ (897)

Interest Expense [Member]

Derivative Instruments Gain Loss [Line Items]

Amount recorded in operations

^[1]

$ 0

$ (103)

$ (807)

Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Interest Income (Expense), Net

Other Income (Expense), Net [Member]

Derivative Instruments Gain Loss [Line Items]

Amount recorded in operations

^[2]

$ (13)

$ (194)

$ (90)

Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Other Nonoperating Income (Expense)

[1]	Consists of interest expense from the interest rate swap contract.
[2]	Consists of net realized losses on foreign currency forward contracts.

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized		500,000	500,000
Preferred stock, par value		$ 0.01	$ 0.01
Authorized to purchase of common stock under the stock repurchase program		$ 585,000,000
Cumulative repurchase of common stock		17,100,000
Aggregate cost of repurchase of common stock		$ 514,100,000
Aggregate dividend declared for the year		$ 0
Number of shares unused from prior plans		2,500,000
Option Outstanding and vested		201,000	89,000
Increase in number of shares issuable under plan		3,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Description		The amendment and restatement resulted in (1) extending the term of the plan for an additional 10 years until May 2033, (2) increasing the number of shares issuable under the plan by 3,500,000 shares, and (3) establishing a maximum amount of awards issuable under the plan to the Company’s non-employee directors.
Common stock, par value		$ 0.01	$ 0.01
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common shares under plans	800,000
Future awards granted or issued under plans		600,000
Increase in number of shares issuable under plan	600,000
Common stock, par value	$ 0.01
Duration of purchase periods under employee stock purchase plan	6 months
Holding period of stocks acquired under employee stock purchase plan	1 year
Value used to derive maximum number of shares per participant for employee stock purchase	$ 12,500
Employee maximum elected percentage reduction of compensation to purchase shares	10.00%
Exercise price rate of fair value	85.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value for RSUs granted		$ 32.82	$ 50.37	$ 46.64
Number of shares received per restricted stock unit on lapse of restrictions and vesting condition met		1
Value of RSUs vested and converted to common stock		$ 8,800,000	$ 10,800,000	$ 11,500,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised		$ 6,000	$ 300,000	$ 2,200,000
Equity Incentive Plan [Member] \| Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized					9,930,000
Option expiration period		10 years
Future awards granted or issued under plans		4,200,000
Option Outstanding and vested		0
Equity Incentive Plan [Member] \| Equity Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vested period		4 years
Equity Incentive Plan [Member] \| Equity Plan [Member] \| Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future awards granted or issued under plans		0
Equity Incentive Plan [Member] \| Equity Plan [Member] \| Non-Employee Directors [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vested period		1 year