← GARTNER INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $193.6m | $3.3m | $122.5m | $233.3m | $266.7m | $793.6m | $807.8m | $882.5m | $1.3b | $729.2m | |
| Depreciation, Depletion and Amortization | $62.0m | $240.2m | $255.6m | $211.8m | $219.0m | $212.4m | $191.9m | $191.1m | $202.3m | $200.3m | |
| Amortization of Debt Issuance Costs | $3.1m | $15.1m | $13.8m | $6.5m | $8.4m | $4.2m | $4.6m | $4.7m | $4.6m | — | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | — | — | — | — | — | — | $4.3m | |
| Amortization of Intangible Assets | $24.8m | $176.3m | $187.0m | $129.7m | $125.1m | $109.6m | $98.5m | $92.5m | $90.2m | $82.3m | |
| Capitalized Computer Software, Amortization | $8.8m | $9.9m | $13.2m | $20.0m | $28.9m | $34.6m | $39.6m | $47.8m | $60.1m | $68.4m | |
| Depreciation | $37.2m | $63.9m | $68.6m | $82.1m | $93.9m | $102.8m | $93.4m | $98.6m | $112.1m | $118.0m | |
| Amortization and write-off of deferred financing fees and unamortized discounts | — | — | — | — | — | — | — | $4.7m | $4.6m | $4.3m | |
| Deferred Income Tax Expense (Benefit) | ($2.0m) | ($216.3m) | ($75k) | ($71.5m) | ($43.0m) | ($34.9m) | ($35.7m) | ($61.8m) | ($159.0m) | $6.0m | |
| Deferred taxes | ($2.6m) | ($217.4m) | $1.5m | ($55.8m) | ($53.2m) | ($41.6m) | ($30.7m) | ($64.2m) | ($162.1m) | $828k | |
| Share-based Payment Arrangement, Noncash Expense | $46.7m | $78.9m | $66.2m | $69.0m | $62.5m | $98.6m | $90.6m | $129.8m | $154.8m | $155.9m | |
| Share-based Payment Arrangement, Expense | $46.7m | $78.9m | $66.2m | $69.0m | $62.6m | $98.6m | $90.6m | $129.8m | $154.8m | $155.9m | |
| Goodwill, Impairment Loss | — | — | — | — | — | $0 | $0 | — | — | $150.0m | |
| Operating Lease, Impairment Loss | — | — | — | — | — | $49.5m | $54.0m | $20.4m | $10.9m | $4.8m | |
| Goodwill impairment | — | — | — | — | — | — | — | $0 | $0 | $150.0m | |
| Loss on impairment of lease related assets, net | — | — | — | $0 | $0 | $49.5m | $54.0m | $20.4m | $10.9m | $4.8m | |
| Gain (Loss) on Disposition of Business | — | — | $45.4m | ($2.1m) | $0 | $0 | — | $135.4m | $0 | $0 | |
| Gain (Loss) on Extinguishment of Debt | $2.5m | $0 | $0 | — | ($44.8m) | $0 | $0 | — | — | — | |
| Income Tax Expense (Benefit) | $94.8m | ($131.1m) | $58.7m | $42.4m | $59.4m | $176.3m | $219.4m | $264.7m | $133.7m | $238.9m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $131.0m | $125.3m | |
| Other Nonoperating Income (Expense) | $8.4m | $3.4m | $167k | $7.5m | ($5.7m) | $18.4m | $48.4m | $1.4m | $575k | $3.0m | |
| Reduction in the carrying amount of operating lease right-of-use assets | — | — | $0 | $86.5m | $81.9m | $75.1m | $70.1m | $70.2m | $65.7m | $64.2m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $68.7m | $368.5m | $115.0m | $66.7m | ($99.4m) | $145.3m | $240.7m | $24.7m | $137.8m | ($38.0m) | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | — | — | — | — | $135.4m | $0 | $0 | |
| Foreign Currency Transaction Gain (Loss), Realized | ($400k) | ($5.5m) | $9.2m | ($1.1m) | $12.5m | ($3.7m) | $25.6m | ($6.0m) | ($6.9m) | $6.0m | |
| Goodwill | $738.5m | $3.0b | $2.9b | $2.9b | $2.9b | $3.0b | $2.9b | $2.9b | $2.9b | $2.7b | |
| Insured Event, Gain (Loss) | — | — | — | — | — | $152.3m | $0 | $3.1m | $300.0m | $0 | |
| Investment Income, Interest | — | — | — | — | — | — | — | — | $61.6m | $64.7m | |
| Payments of Financing Costs | — | — | — | — | — | — | — | — | $3.0m | $6.5m | |
| Pension Cost (Reversal of Cost) | $3.5m | $3.5m | $3.9m | — | — | — | — | — | — | — | |
| Stock-based compensation expense | $46.7m | $78.9m | $66.2m | $69.0m | $62.5m | $98.6m | $90.6m | $129.8m | $154.8m | $155.9m | |
| Gain on de-designated swaps | — | — | $0 | $0 | ($2.2m) | ($20.2m) | ($52.3m) | ($3.9m) | ($3.9m) | ($489k) | |
| Fees receivable, net | ($68.7m) | ($368.5m) | ($115.0m) | ($66.7m) | $99.4m | ($145.3m) | ($240.7m) | ($24.7m) | ($137.8m) | $38.0m | |
| Deferred commissions | ($18.7m) | ($61.4m) | ($31.2m) | ($30.3m) | $8.7m | ($124.9m) | $5.6m | ($13.7m) | ($41.6m) | $25.2m | |
| Prepaid expenses and other current assets | ($21.6m) | $13.3m | ($50.6m) | $19.0m | $37.9m | ($15.9m) | ($3.0m) | ($7.9m) | ($28.9m) | $1.8m | |
| Other assets | $20.0m | ($18.5m) | $11.5m | ($27.3m) | ($8.9m) | ($18.3m) | $8.4m | ($34.5m) | ($43.5m) | ($30.9m) | |
| Deferred revenues | $98.0m | $382.9m | $187.1m | $181.2m | $16.0m | $324.1m | $297.1m | $169.9m | $181.2m | ($41.9m) | |
| Accounts payable and accrued and other liabilities | $56.4m | $186.8m | $55.2m | ($54.6m) | $111.9m | $121.2m | ($101.9m) | ($28.5m) | $29.4m | ($10.8m) | |
| Additions to property, equipment and leasehold improvements | ($49.9m) | ($110.8m) | ($126.9m) | ($149.0m) | ($83.9m) | ($59.8m) | ($108.0m) | ($103.1m) | ($101.7m) | ($115.1m) | |
| Acquisitions - cash paid (net of cash acquired) | ($34.2m) | ($2.6b) | ($15.9m) | ($26.0m) | $0 | ($22.9m) | ($9.5m) | ($3.8m) | ($2.0m) | $0 | |
| Cash (used in) provided by investing activities | ($84.0m) | ($2.7b) | $384.1m | ($160.9m) | ($83.9m) | ($80.5m) | ($117.6m) | $54.2m | ($103.7m) | ($115.1m) | |
| Proceeds from employee stock purchase plan | $9.2m | $11.7m | $14.7m | $17.6m | $18.1m | $18.2m | $22.2m | $25.1m | $28.2m | $32.5m | |
| Payments for deferred financing fees | ($5.0m) | ($51.2m) | $0 | $0 | ($25.8m) | ($7.3m) | $0 | $0 | ($3.0m) | ($6.5m) | |
| Proceeds from revolving credit facility | — | — | $248.0m | $309.0m | $332.0m | $0 | $0 | $0 | $274.4m | $0 | |
| Payments on revolving credit facility | — | — | ($688.0m) | ($316.0m) | ($475.0m) | ($5.0m) | $0 | $0 | $0 | ($274.4m) | |
| Purchases of treasury stock | ($59.0m) | ($41.3m) | ($260.8m) | ($199.0m) | ($176.3m) | ($1.7b) | ($1.0b) | ($606.2m) | ($735.4m) | ($2.0b) | |
| Cash used in financing activities | ($174.7m) | $2.5b | ($1.3b) | ($286.0m) | ($416.2m) | ($1.2b) | ($1.0b) | ($588.9m) | ($710.1m) | ($1.4b) | |
| Interest | $23.4m | $98.5m | $117.5m | $102.3m | $112.2m | $101.9m | $112.8m | $119.0m | $100.1m | $99.5m | |
| Income taxes, net of refunds received | $86.3m | $76.1m | $95.8m | $119.2m | $33.9m | $253.4m | $174.8m | $306.7m | $312.9m | $209.6m | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | ($286k) | $0 | $0 | — | — | |
| Derivative, Gain (Loss) on Derivative, Net | $7.9m | $7.1m | $8.5m | $873k | ($47.2m) | ($10.2m) | ($2.2m) | ($14.2m) | ($12.7m) | ($16.1m) | |
| Net Cash Provided by (Used in) Operating Activities | $365.6m | $254.5m | $471.2m | $565.4m | $903.3m | $1.3b | $1.1b | $1.2b | $1.5b | $1.3b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Businesses, Net of Cash Acquired | $34.2m | $2.6b | $15.9m | $26.0m | $0 | $22.9m | $9.5m | $3.8m | $2.0m | $0 | |
| Gain from sale of divested operation | $0 | $0 | ($45.4m) | $2.1m | $0 | $0 | $0 | ($135.4m) | $0 | $0 | |
| Proceeds from sale of divested operation | — | — | — | — | — | $0 | $0 | $161.1m | $0 | $0 | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | ($2.3m) | $0 | $0 | — | — | |
| Net Cash Provided by (Used in) Investing Activities | ($84.0m) | ($2.7b) | $384.1m | ($160.9m) | ($83.9m) | ($80.5m) | ($117.6m) | $54.2m | ($103.7m) | ($115.1m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $715.0m | $3.0b | $0 | $5.0m | $2.0b | $600.0m | $0 | $0 | — | $799.9m | |
| Proceeds from issuance of long-term debt, net of discounts | $715.0m | $3.0b | $0 | $5.0m | $2.0b | $600.0m | $0 | $0 | $0 | $799.9m | |
| Repayments of Long-term Debt | $835.0m | $404.4m | $1.0b | $109.6m | $2.1b | $107.9m | $5.9m | $7.8m | $274.4m | $0 | |
| Payments on long-term debt | ($835.0m) | ($404.4m) | ($1.0b) | ($109.6m) | ($2.1b) | ($107.9m) | ($5.9m) | ($7.8m) | ($274.4m) | $0 | |
| Payments for Repurchase of Common Stock | $59.0m | $41.3m | $260.8m | $199.0m | $176.3m | $1.7b | $1.0b | $606.2m | $735.4m | $2.0b | |
| Net Cash Provided by (Used in) Financing Activities | ($174.7m) | $2.5b | ($1.3b) | ($286.0m) | ($416.2m) | ($1.2b) | ($1.0b) | ($588.9m) | ($710.1m) | ($1.4b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($6.5m) | $3.6m | $28.6m | ($26.4m) | ($18.4m) | ($13k) | ($57.5m) | $53.9m | |
| Effects of exchange rates on cash and cash equivalents and restricted cash | ($5.6m) | $25.9m | ($6.5m) | $3.6m | $28.6m | ($26.4m) | ($18.4m) | ($13k) | ($57.5m) | $53.9m | |
| Net (decrease) increase in cash and cash equivalents and restricted cash | $92.9m | $41.8m | ($401.9m) | $118.6m | $403.2m | $74.4m | ($43.6m) | $621.0m | $671.0m | ($264.5m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $158.7m | $280.8m | $712.6m | $760.6m | $698.6m | $1.3b | $1.9b | $1.7b | |
| Cash and cash equivalents and restricted cash, beginning of year | $499.4m | $567.1m | $158.7m | $280.8m | $712.6m | $760.6m | $698.6m | $1.3b | $1.9b | $1.7b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $117.5m | $102.3m | $112.2m | $101.9m | $112.8m | $119.0m | $100.1m | $99.5m | |
| Income Taxes Paid, Net | $86.3m | $76.1m | $95.8m | $119.2m | $33.9m | $253.4m | $174.8m | $306.7m | $312.9m | $209.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.