What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-08-05 compared with 2025-05-06 · 212 added, 96 removed, 583 unchanged (35% of the section changed)

4 unchanged sentences

in thousands, except share data)

March 31, December 31,

June 30, December 31,

Current assets:

15 unchanged sentences

Deferred revenues 2,691,487 2,762,927

Current portion of long-term debt 361 —

Total current liabilities 3,593,764 3,969,016

20 unchanged sentences

in thousands, except per share data)

Three Months Ended

Research $ 1,321,827 $ 1,268,172

Three Months Ended Six Months Ended

June 30, June 30,

2025 2024 2025 2024

Insights $ 1,319,453 $ 1,265,992 $ 2,641,280 $ 2,534,164

Conferences 211,407 186,084 284,004 256,153

25 unchanged sentences

in thousands)

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

2025 2024 2025 2024

Net income $ 240,783 $ 229,548 $ 451,722 $ 440,093

10 unchanged sentences

in thousands)

Three Months Ended March 31, 2025

Three and Six Months Ended June 30, 2025

Common Stock Additional Paid-In Capital Accumulated Other Comprehensive Loss, Net Accumulated Earnings Treasury Stock Total

6 unchanged sentences

Balance at March 31, 2025 $ 82 $ 2,553,170 $ ( 67,849 ) $ 6,203,946 $ ( 7,191,495 ) $ 1,497,854

Three Months Ended March 31, 2024

Net income — — — 240,783 — 240,783

Other comprehensive income

— — 21,234 — — 21,234

Issuances under stock plans — 6,779 — — 981 7,760

Common share repurchases (including excise tax) — — — — ( 278,032 ) ( 278,032 )

Stock-based compensation expense — 43,027 — — — 43,027

Balance at June 30, 2025 $ 82 $ 2,602,976 $ ( 46,615 ) $ 6,444,729 $ ( 7,468,546 ) $ 1,532,626

Three and Six Months Ended June 30, 2024

Common Stock Additional Paid-In Capital Accumulated Other Comprehensive Loss, Net Accumulated Earnings Treasury Stock Total

6 unchanged sentences

Balance at March 31, 2024 $ 82 $ 2,373,501 $ ( 82,386 ) $ 4,949,837 $ ( 6,522,860 ) $ 718,174

Net income — — — 229,548 — 229,548

Other comprehensive income

— — 733 — — 733

Issuances under stock plans — 8,587 — — ( 2,161 ) 6,426

Common share repurchases (including excise tax) — — — — ( 347,969 ) ( 347,969 )

Stock-based compensation expense — 39,747 — — — 39,747

Balance at June 30, 2024 $ 82 $ 2,421,835 $ ( 81,653 ) $ 5,179,385 $ ( 6,872,990 ) $ 646,659

See the accompanying notes to Condensed Consolidated Financial Statements.

3 unchanged sentences

in thousands)

Three Months Ended

Six Months Ended

Operating activities:

39 unchanged sentences

Gartner, Inc.

IT) delivers actionable, objective insight that drives smarter decisions and stronger performance on an organization’s mission-critical priorities.

IT) delivers actionable, objective business and technology insights that drive smarter decisions and stronger performance on an organization’s mission-critical priorities.

Gartner delivers its products and services globally through three business segments:

Research, Conferences and Consulting.

Business and Technology Insights, Conferences and Consulting.

Revenues and other financial information for the Company’s segments are discussed in Note 6 — Segment Information.

In the second quarter of 2025, the Company renamed its segment previously referred to as Research to Business and Technology Insights (or “Insights”) to reflect the nature of the value the Company provides to clients.

The Company’s expert guidance and tools enable faster, smarter decisions and stronger performance on an organization’s mission-critical priorities.

Basis of presentation .

4 unchanged sentences

In the opinion of management, all normal recurring accruals and adjustments considered necessary for a fair presentation of financial position, results of operations and cash flows at the dates and for the periods presented herein have been included.

The results of operations for the three months ended March 31, 2025 may not be indicative of the results of operations for the remainder of 2025 or beyond.

The results of operations for the three and six months ended June 30, 2025 may not be indicative of the results of operations for the remainder of 2025 or beyond.

When used in these notes, the terms “Gartner,” the “Company,” “we,” “us,” or “our” refer to Gartner, Inc.

15 unchanged sentences

Cash and cash equivalents and restricted cash.

During the three months ended March 31, 2024, the Company paid $ 0.6 million of restricted cash for deferred consideration related to a 2022 acquisition.

During the six months ended June 30, 2024, the Company paid $ 0.6 million of restricted cash for deferred consideration related to a 2022 acquisition.

Revenue recognition.

18 unchanged sentences

Accounting standards issued but not yet adopted.

The FASB has issued accounting standards that have not yet become effective as of March 31, 2025 and may impact the Company’s Consolidated Financial Statements or related disclosures in future periods.

The FASB has issued accounting standards that have not yet become effective as of June 30, 2025 and may impact the Company’s Consolidated Financial Statements or related disclosures in future periods.

The standards and their potential impacts are discussed below.

19 unchanged sentences

Evaluations of the recoverability of goodwill are performed in accordance with FASB ASC Topic 350, which requires an annual assessment of potential goodwill impairment at the reporting unit level and whenever events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable.

When performing the annual assessment of the recoverability of goodwill, the Company initially performs a qualitative analysis evaluating whether any events or circumstances occurred or exist that provide evidence that it is more likely than not that the fair value of any of the Company’s reporting units is less than the related carrying amount.

If the Company does not believe that

it is more likely than not that the fair value of any of the Company’s reporting units is less than the related carrying amount, then no quantitative impairment test is performed.

fair value of any of the Company’s reporting units is less than the related carrying amount.

If the Company does not believe that it is more likely than not that the fair value of any of the Company’s reporting units is less than the related carrying amount, then no quantitative impairment test is performed.

However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its respective carrying amount, then a quantitative impairment test is performed.

3 unchanged sentences

Subsequent to completing the 2024 annual impairment test, there were no events or changes in circumstances noted that required an interim impairment test.

The table below presents changes to the carrying amount of goodwill by segment during the three months ended March 31, 2025 (in thousands).

Research Conferences Consulting Total

The table below presents changes to the carrying amount of goodwill by segment during the six months ended June 30, 2025 (in thousands).

Insights Conferences Consulting Total

Balance at December 31, 2024 (1) $ 2,650,981 $ 183,920 $ 95,304 $ 2,930,205

Foreign currency translation impact 6,405 105 991 7,501

Balance at March 31, 2025 (1) $ 2,653,428 $ 183,958 $ 95,736 $ 2,933,122

Balance at June 30, 2025 (1) $ 2,657,386 $ 184,025 $ 96,295 $ 2,937,706

(1) The Company does no t have any accumulated goodwill impairment losses.

1 unchanged sentence

The tables below present reconciliations of the carrying amounts of the Company’s finite-lived intangible assets as of the dates indicated (in thousands).

March 31, 2025 Customer

June 30, 2025 Customer

Relationships Other Total

4 unchanged sentences

Accumulated amortization (1) ( 650,044 ) ( 7,768 ) ( 657,812 )

Balance at March 31, 2025 $ 389,136 $ 2,668 $ 391,804

Balance at June 30, 2025 $ 373,503 $ 2,432 $ 375,935

December 31, 2024 Customer

5 unchanged sentences

Customer relationships— 6 to 13 years and Other— 11 years.

Amortization expense related to finite-lived intangible assets was $ 21.9 million and $ 23.0 million during the three months ended March 31, 2025 and 2024, respectively.

Amortization expense related to finite-lived intangible assets was $ 20.2 million and $ 22.9 million during the three months ended June 30, 2025 and 2024, and $ 42.1 million and $ 45.9 million during the six months ended June 30, 2025 and 2024, respectively.

The estimated future amortization expense by year for finite-lived intangible assets is presented in the table below (in thousands).

2025 (remaining nine months) $ 59,776

2025 (remaining six months) $ 40,182

Note 3 — Revenue and Related Matters

1 unchanged sentence

By Primary Geographic Market (1)

Three Months Ended March 31, 2025

Primary Geographic Market Research Conferences Consulting Total

Three Months Ended June 30, 2025

Primary Geographic Market Insights Conferences Consulting Total

United States and Canada $ 826,358 $ 138,285 $ 91,779 $ 1,056,422

2 unchanged sentences

Total revenues $ 1,319,453 $ 211,407 $ 155,594 $ 1,686,454

Three Months Ended March 31, 2024

Primary Geographic Market Research Conferences Consulting Total

Three Months Ended June 30, 2024

Primary Geographic Market Insights Conferences Consulting Total

United States and Canada $ 832,719 $ 131,119 $ 90,943 $ 1,054,781

2 unchanged sentences

Total revenues $ 1,265,992 $ 186,084 $ 142,984 $ 1,595,060

Six Months Ended June 30, 2025

Primary Geographic Market Insights Conferences Consulting Total

United States and Canada $ 1,673,639 $ 193,869 $ 182,743 $ 2,050,251

Europe, Middle East and Africa 651,517 64,437 75,099 791,053

Other International 316,124 25,698 37,458 379,280

Total revenues $ 2,641,280 $ 284,004 $ 295,300 $ 3,220,584

Six Months Ended June 30, 2024

Primary Geographic Market Insights Conferences Consulting Total

United States and Canada $ 1,667,940 $ 179,209 $ 169,482 $ 2,016,631

Europe, Middle East and Africa 575,193 56,957 71,283 703,433

Other International 291,031 19,987 36,904 347,922

Total revenues $ 2,534,164 $ 256,153 $ 277,669 $ 3,067,986

(1) Revenue is reported based on where the sale is fulfilled.

1 unchanged sentence

By Timing of Revenue Recognition

Three Months Ended March 31, 2025

Timing of Revenue Recognition Research Conferences Consulting Total

Three Months Ended June 30, 2025

Timing of Revenue Recognition Insights Conferences Consulting Total

Transferred over time (1) $ 1,260,911 $ — $ 109,882 $ 1,370,793

1 unchanged sentence

Total revenues $ 1,319,453 $ 211,407 $ 155,594 $ 1,686,454

Three Months Ended March 31, 2024

Timing of Revenue Recognition Research Conferences Consulting Total

Three Months Ended June 30, 2024

Timing of Revenue Recognition Insights Conferences Consulting Total

Transferred over time (1) $ 1,187,626 $ — $ 106,584 $ 1,294,210

1 unchanged sentence

Total revenues $ 1,265,992 $ 186,084 $ 142,984 $ 1,595,060

(1) Research revenues in this category are recognized in connection with performance obligations that are satisfied over time using a time-elapsed output method to measure progress.

Six Months Ended June 30, 2025

Timing of Revenue Recognition Insights Conferences Consulting Total

Transferred over time (1) $ 2,513,499 $ — $ 214,034 $ 2,727,533

Transferred at a point in time (2) 127,781 284,004 81,266 493,051

Total revenues $ 2,641,280 $ 284,004 $ 295,300 $ 3,220,584

Six Months Ended June 30, 2024

Timing of Revenue Recognition Insights Conferences Consulting Total

Transferred over time (1) $ 2,369,894 $ — $ 215,171 $ 2,585,065

Transferred at a point in time (2) 164,270 256,153 62,498 482,921

Total revenues $ 2,534,164 $ 256,153 $ 277,669 $ 3,067,986

(1) Insights revenues in this category are recognized in connection with performance obligations that are satisfied over time using a time-elapsed output method to measure progress.

Consulting revenues in this category are recognized over time using costs incurred to date relative to total estimated costs at completion.

(2) The revenues in this category are recognized in connection with performance obligations that are satisfied at the point in time that the contractual deliverables are provided to the customer.

Performance Obligations — For customer contracts that are greater than one year in duration, the aggregate amount of the transaction price allocated to performance obligations that were unsatisfied (or partially unsatisfied) as of March 31, 2025 was approximately $ 6.1 billion.

The Company expects to recognize $ 2.9 billion, $ 2.4 billion and $ 0.8 billion of this revenue (most of which pertains to Research) during the remainder of 2025, the year ending December 31, 2026 and thereafter, respectively.

The Company expects to recognize $ 2.0 billion, $ 2.9 billion and $ 1.2 billion of this revenue (most of which pertains to Insights) during the remainder of 2025, the year ending December 31, 2026 and thereafter, respectively.

The Company applies a practical expedient that is permitted under ASC Topic 606 and, accordingly, it does not disclose such performance obligation information for customer contracts that have original durations of one year or less.

The Company’s performance obligations for contracts meeting this ASC Topic 606 disclosure exclusion primarily include:

(i) stand-ready services under Research subscription contracts;

(i) stand-ready services under Insights subscription contracts;

(ii) holding conferences and meetings where attendees and exhibitors can participate;

3 unchanged sentences

The table below provides information regarding certain of the Company’s balance sheet accounts that pertain to its contracts with customers (in thousands).

March 31, December 31,

June 30, December 31,

Fees receivable, gross (1) $ 1,269,663 $ 1,704,725

8 unchanged sentences

Both situations occur before the completion of the Company’s performance obligation(s).

The Company recognized revenue of $ 1.0 billion during both the three months ended March 31, 2025 and 2024, that was attributable to deferred revenues that were recorded at the beginning of each such period.

Those amounts primarily consisted of Research revenues that were recognized ratably as control of the goods or services passed to the customer during the reporting periods.

During each of the three months ended March 31, 2025 and 2024, the Company did not record any material impairments related to its contract assets.

The Company recognized revenue of $ 1.2 billion during both the three months ended June 30, 2025 and 2024, and $ 1.8 billion and $ 1.7 billion during the six months ended June 30, 2025 and 2024, respectively, that was attributable to deferred revenues that were recorded at the beginning of each such period.

Those amounts primarily consisted of Insights revenues that were recognized ratably as control of the goods or services passed to the customer during the reporting periods.

During each of the three and six months ended June 30, 2025 and 2024, the Company did not record any material impairments related to its contract assets.

Note 4 — Computation of Earnings Per Share

3 unchanged sentences

The table below sets forth the calculation of basic and diluted income per share for the periods indicated (in thousands, except per share data).

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

2025 2024 2025 2024

Net income used for calculating basic and diluted income per share $ 240,783 $ 229,548 $ 451,722 $ 440,093

5 unchanged sentences

(1) Certain outstanding awards associated with stock-based compensation plans were not included in the computation of diluted income per share because the effect would have been anti-dilutive.

These anti-dilutive outstanding awards associated with stock-based compensation plans was 0.2 million and de minimis for the three months ended March 31, 2025 and 2024, respectively.

These anti-dilutive outstanding awards associated with stock-based compensation plans was 0.4 million and 0.3 million for the three and six months ended June 30, 2025, respectively, and approximately 0.1 million for both the three and six months ended June 30, 2024.

Note 5 — Stock-Based Compensation

1 unchanged sentence

The Company currently awards stock-settled stock appreciation rights, service-based and performance-based restricted stock units, and common stock equivalents.

As of March 31, 2025, the Company had 5.2 million shares of its common stock, par value $ 0.0005 per share, (the “Common Stock”) available for stock-based compensation awards under the Gartner, Inc.

As of June 30, 2025, the Company had 5.2 million shares of its common stock, par value $ 0.0005 per share, (the “Common Stock”) available for stock-based compensation awards under the Gartner, Inc.

Long-Term Incentive Plan as amended and restated in June 2023 (the “Plan”).

The tables below summarize the Company’s stock-based compensation expense by award type and expense category line item during the periods indicated (in millions).

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

Award type 2025 2024 2025 2024

3 unchanged sentences

Total (1) $ 43.0 $ 39.7 $ 93.2 $ 90.2

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

Expense category line item 2025 2024 2025 2024

2 unchanged sentences

Total (1) $ 43.0 $ 39.7 $ 93.2 $ 90.2

(1) Includes costs of $ 28.0 million and $ 30.6 million during the three months ended March 31, 2025 and 2024, respectively, for awards to retirement-eligible employees.

(1) Includes costs of $ 19.0 million and $ 18.4 million during the three months ended June 30, 2025 and 2024, respectively, and $ 47.0 million and $ 49.0 million during the six months ended June 30, 2025 and 2024, respectively, for awards to retirement-eligible employees.

Those awards are expensed on an accelerated basis.

Note 6 — Segment Information

The Company’s products and services are delivered through three segments – Research, Conferences and Consulting, as described below.

• Research equips executives and their teams from every function and across all industries with actionable, objective insight, guidance and tools.

The Company’s products and services are delivered through three segments – Business and Technology Insights, or “Insights” , Conferences and Consulting, as described below.

• Insights equips executives and their teams from every function and across all industries with actionable, objective business and technology insights, guidance and tools.

Our experienced experts deliver all this value informed by an unmatched combination of practitioner-sourced and data-driven research to help our clients address their mission critical priorities.

• Conferences provides executives and teams across an organization the opportunity to learn, share and network.

From our Gartner Symposium/Xpo series, to industry-leading conferences focused on specific business roles and topics, to peer-driven sessions, our offerings enable attendees to experience the best of Gartner insight and guidance.

• Consulting serves senior executives leading technology-driven strategic initiatives leveraging the power of Gartner’s actionable, objective insight.

• Consulting serves senior executives leading technology-driven strategic initiatives leveraging the power of Gartner’s actionable, objective insights.

Through custom analysis and on-the-ground support we enable optimized technology investments and stronger performance on our clients’ mission critical priorities.

The Company evaluates segment performance and allocates resources based on gross contribution margin.

The Company's Chief Executive Officer is its chief operating decision maker (CODM).

The CODM evaluates segment performance and allocates resources based on gross contribution.

Gross contribution, as presented in the tables below, is defined as operating income or loss excluding certain Cost of services and product development expenses, Selling, general and administrative expenses, Depreciation, Amortization of intangibles, Acquisition and integration charges and Gain from sale of divested operation.

Certain bonus and fringe benefit costs included in consolidated Cost of services and product development are not allocated to segment expense.

The CODM uses gross contribution to allocate resources (including financial resources and employees) for each segment primarily in the Company's annual budgeting process.

The CODM then monitors budgeted

versus actual results regularly to assess segment operating performance, identify business trends, and modify resource allocations as needed.

The accounting policies used by the reportable segments are the same as those used by the Company.

3 unchanged sentences

The tables below present information about the Company’s reportable segments for the periods indicated (in thousands).

Three Months Ended March 31, 2025 Research Conferences Consulting Consolidated

Three Months Ended June 30, 2025 Insights Conferences Consulting Consolidated

Revenues $ 1,319,453 $ 211,407 $ 155,594 $ 1,686,454

8 unchanged sentences

Income before income taxes $ 317,793

Three Months Ended March 31, 2024 Research Conferences Consulting Consolidated

Three Months Ended June 30, 2024 Insights Conferences Consulting Consolidated

Revenues $ 1,265,992 $ 186,084 $ 142,984 $ 1,595,060

9 unchanged sentences

Income before income taxes $ 299,297

Six Months Ended June 30, 2025 Insights Conferences Consulting Consolidated

Revenues $ 2,641,280 $ 284,004 $ 295,300 $ 3,220,584

Personnel expenses 588,887 36,626 165,603 791,116

Product and content delivery expenses 79,475 89,368 7,314 176,157

Other (1) 13,720 9,240 7,436 30,396

Gross contribution 1,959,198 148,770 114,947 2,222,915

Cost of services and product development - unallocated (2) 9,092

Selling, general and administrative 1,507,196

Depreciation and amortization 101,499

Interest expenses and other, net 20,327

Income before income taxes $ 584,801

Six Months Ended June 30, 2024 Insights Conferences Consulting Consolidated

Revenues $ 2,534,164 $ 256,153 $ 277,669 $ 3,067,986

Personnel expenses 556,744 32,224 155,394 744,362

Product and content delivery expenses 87,644 83,848 6,873 178,365

Other (1) 12,086 8,714 7,396 28,196

Gross contribution 1,877,690 131,367 108,006 2,117,063

Cost of services and product development - unallocated (2) 21,832

Selling, general and administrative 1,401,904

Depreciation and amortization 99,841

Acquisition and integration charges 818

Interest expenses and other, net 33,814

Income before income taxes $ 558,854

(1) Other consists primarily of travel and entertainment and workplace expenses.

4 unchanged sentences

The Company’s total outstanding borrowings are summarized in the table below (in thousands).

March 31, December 31,

June 30, December 31,

Description 2025 2024

12 unchanged sentences

Net balance sheet carrying amount $ 2,461,990 $ 2,459,915

(1) The contractual annualized interest rate as of March 31, 2025 on the 2024 Credit Agreement was 5.725 %, which consisted of Term Secured Overnight Financing Rate (“SOFR”) of 4.375 % plus a margin of 1.350 %.

(1) The contractual annualized interest rate as of June 30, 2025 on the 2024 Credit Agreement was 5.725 %, which consisted of Term Secured Overnight Financing Rate (“SOFR”) of 4.375 % plus a margin of 1.350 %.

However, the Company has an interest rate swap contract that effectively converts the floating SOFR on outstanding amounts to a fixed base rate.

(2) The Company had approximately $ 0.7 billion of available borrowing capacity on the 2024 Credit Agreement revolver (not including the expansion feature) as of March 31, 2025.

(2) The Company had approximately $ 0.7 billion of available borrowing capacity on the 2024 Credit Agreement revolver (not including the expansion feature) as of June 30, 2025.

(3) Consists of a State of Connecticut economic development loan originated in 2019 with a 10 -year maturity and bears interest at a fixed rate of 1.75 %.

This loan may be repaid at any time by the Company without penalty.

(4) The weighted average annual effective rate on the Company’s outstanding debt for the three months ended March 31, 2025, including the effects of its interest rate swaps discussed below, was 4.89 %.

(4) The weighted average annual effective rate on the Company’s outstanding debt for the three and six months ended June 30, 2025, including the effects of its interest rate swaps discussed below, was 4.85 % and 4.87 %, respectively.

(5) Deferred financing fees are being amortized to Interest expense, net over the term of the related debt obligation.

6 unchanged sentences

The 2024 Credit Agreement contains certain customary restrictive loan covenants, including, among others, a financial covenant requiring a maximum leverage ratio and covenants limiting the Company’s ability to grant liens, make acquisitions, be acquired and the ability of the Company’s subsidiaries to incur indebtedness.

The Company was in compliance with all financial covenants as of March 31, 2025.

The Company was in compliance with all financial covenants as of June 30, 2025.

On March 26, 2024, the Company borrowed $ 274.4 million under the 2024 Credit Agreement.

3 unchanged sentences

The applicable margin ranges between 1.125 % and 1.75 %, depending on the lower rate determined by either the Company’s leverage ratio or the credit rating of the Company’s senior unsecured debt.

At March 31, 2025, the applicable all-in margin on the revolving facility was 1.35 % (including the credit spread adjustment).

At June 30, 2025, the applicable all-in margin on the revolving facility was 1.35 % (including the credit spread adjustment).

The commitment fee payable on the unused portion of the facility is equal to between 0.125 % and 0.25 % based on utilization of the facility.

16 unchanged sentences

Prior to October 1, 2025, the Company may redeem up to 40 % of the aggregate principal amount of the 2030 Notes in connection with certain equity offerings, or some or all of the 2030 Notes with a “make-whole” premium, in each case subject to the terms set forth in the 2030 Note Indenture.

On March 26, 2024, in connection with the closing of the 2024 Credit Agreement and as a result of the termination of the 2020 Credit Agreement, the Company’s subsidiaries that guaranteed the Company’s 2030 Notes were released from their guarantee obligations with respect to the Notes, in accordance with the terms of the indenture pursuant to which the 2030 Notes was issued.

obligations with respect to the Notes, in accordance with the terms of the indenture pursuant to which the 2030 Notes was issued.

On June 22, 2020, the Company issued $ 800.0 million aggregate principal amount of 4.50 % Senior Notes due 2028.

7 unchanged sentences

Interest Rate Swap

As of March 31, 2025, the Company had one fixed-for-floating interest rate swap contract with a notional value of $ 350.0 million that matures in September 2025.

As of June 30, 2025, the Company had one fixed-for-floating interest rate swap contract with a notional value of $ 350.0 million that matures in September 2025.

Under the contract, the Company pays a base fixed rate of 2.98 % and in return receives a floating Term SOFR base rate on 30-day notional borrowings.

2 unchanged sentences

The amounts previously recorded in Accumulated other comprehensive loss are amortized into Interest expense, net over the terms of the hedged forecasted interest payments.

As of March 31, 2025, $ 8.7 million is remaining in Accumulated other comprehensive loss, net.

See Note 10 — Derivatives and Hedging for the amounts remaining in Accumulated other comprehensive loss, net of tax effect, at March 31, 2025 and December 31, 2024.

As of June 30, 2025, $ 4.3 million is remaining in Accumulated other comprehensive loss, net.

See Note 10 — Derivatives and Hedging for the amounts remaining in Accumulated other comprehensive loss, net of tax effect, at June 30, 2025 and December 31, 2024.

See Note 11 — Fair Value Disclosures for a discussion of the fair values of Company’s interest rate swaps.

3 unchanged sentences

The Board authorized incremental share repurchases of up to an aggregate additional $ 4.1 billion of the Company’s common stock from February 2021 to July 2024.

As of March 31, 2025, $ 0.9 billion remained available under the share repurchase program.

As of June 30, 2025, $ 0.6 billion remained available under the share repurchase program.

The Company may repurchase its common stock from time-to-time in amounts, at prices and in the manner that the Company deems appropriate, subject to the availability of stock, prevailing market conditions, the trading price of the stock, the Company’s financial performance and other conditions.

2 unchanged sentences

The Company’s share repurchase activity is presented in the table below for the periods indicated.

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

2025 2024 2025 2024

Number of shares repurchased (1) 659,883 778,575 960,628 1,268,309

Cash paid for repurchased shares (in thousands) (2) $ 274,483 $ 339,593 $ 437,155 $ 564,717

(1) The average purchase price for repurchased shares was $ 507.65 and $ 459.69 for the three months ended March 31, 2025 and 2024, respectively.

The repurchased shares during the three months ended March 31, 2025 and 2024 included purchases for both open market purchases and stock-based compensation award settlements.

(2) The cash paid for repurchased shares during the three months ended March 31, 2025 included $ 10.0 million of open market purchases with trade dates in December 2024 that settled in January 2025.

(1) The average purchase price for repurchased shares was $ 417.99 and $ 442.60 for the three months ended June 30, 2025 and 2024, respectively, and $ 446.06 and $ 449.19 for the six months ended June 30, 2025 and 2024, respectively.

The repurchased shares during the three and six months ended June 30, 2025 and 2024 included purchases for both open market purchases and stock-based compensation award settlements.

(2) The cash paid for repurchased shares during the six months ended June 30, 2025 included $ 10.0 million of open market purchases with trade dates in December 2024 that settled in January 2025.

The cash paid for repurchased shares during the three months ended June 30, 2025 excluded $ 6.0 million of open market purchases with trade dates in June 2025 that settled in July 2025 and excise tax accrued.

The cash paid for repurchased shares during the three months ended June 30, 2024 excluded $ 5.0 million of open market purchases with trade dates in June 2024 that settled in July 2024 and excise tax accrued.

Accumulated Other Comprehensive Loss, net (“AOCL”)

The tables below provide information about the changes in AOCL by component and the related amounts reclassified out of AOCL to income during the periods indicated (net of tax, in thousands) (1).

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Interest Rate

2 unchanged sentences

Adjustments Total

Balance – December 31, 2024 $ ( 9,800 ) $ ( 5,214 ) $ ( 73,319 ) $ ( 88,333 )

Balance – March 31, 2025 $ ( 6,410 ) $ ( 5,166 ) $ ( 56,273 ) $ ( 67,849 )

Other comprehensive income (loss) activity during the period:

4 unchanged sentences

Other comprehensive income (loss), net 3,394 51 17,789 21,234

Balance – June 30, 2025 $ ( 3,016 ) $ ( 5,115 ) $ ( 38,484 ) $ ( 46,615 )

Three Months Ended June 30, 2024

Interest Rate

Swaps Defined

Pension Plans Foreign

Adjustments Total

Balance – March 31, 2024 $ ( 20,561 ) $ ( 5,680 ) $ ( 56,145 ) $ ( 82,386 )

Three Months Ended March 31, 2024

Other comprehensive income (loss) activity during the period:

Change in AOCL before reclassifications to income

— — ( 2,967 ) ( 2,967 )

Reclassifications from AOCL to income (2), (3)

3,649 51 — 3,700

Other comprehensive income (loss), net 3,649 51 ( 2,967 ) 733

Balance – June 30, 2024 $ ( 16,912 ) $ ( 5,629 ) $ ( 59,112 ) $ ( 81,653 )

Six Months Ended June 30, 2025

Interest Rate

9 unchanged sentences

Other comprehensive income (loss), net 6,784 99 34,835 41,718

Balance – March 31, 2024 $ ( 20,561 ) $ ( 5,680 ) $ ( 56,145 ) $ ( 82,386 )

Balance – June 30, 2025 $ ( 3,016 ) $ ( 5,115 ) $ ( 38,484 ) $ ( 46,615 )

Six Months Ended June 30, 2024

Interest Rate

Swaps Defined

Pension Plans Foreign

Adjustments Total

Balance – December 31, 2023 $ ( 24,162 ) $ ( 5,731 ) $ ( 46,438 ) $ ( 76,331 )

Other comprehensive income (loss) activity during the period:

Change in AOCL before reclassifications to income

— — ( 12,674 ) ( 12,674 )

Reclassifications from AOCL to income (2), (3)

7,250 102 — 7,352

Other comprehensive income (loss), net 7,250 102 ( 12,674 ) ( 5,322 )

Balance – June 30, 2024 $ ( 16,912 ) $ ( 5,629 ) $ ( 59,112 ) $ ( 81,653 )

(1) Amounts in parentheses represent debits (deferred losses).

(2) $ 4.5 million and $ 4.8 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three months ended March 31, 2025 and 2024, respectively.

(2) $ 4.5 million and $ 4.9 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the three months ended June 30, 2025 and 2024, respectively.

$ 8.9 million and $ 9.7 million of the reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net, for the six months ended June 30, 2025 and 2024, respectively.

See Note 7 — Debt and Note 10 — Derivatives and Hedging for information regarding the cash flow hedges.

(3) The reclassifications related to defined benefit pension plans were recorded in Other income, net.

The estimated net amount of the existing losses on the Company’s interest rate swaps that are reported in Accumulated other comprehensive loss, net at March 31, 2025 that is expected to be reclassified into earnings during the remainder of 2025 is $ 8.7 million.

The estimated net amount of the existing losses on the Company’s interest rate swaps that are reported in Accumulated other comprehensive loss, net at June 30, 2025 that is expected to be reclassified into earnings during the remainder of 2025 is $ 4.3 million.

Note 9 — Income Taxes

The provision for income taxes was $ 56.1 million and $ 49.0 million for the three months ended March 31, 2025 and 2024, respectively.

The effective income tax rate was 21.0 % and 18.9 % for the three months ended March 31, 2025 and 2024, respectively.

T he effective income tax rate is higher in the current year primarily due to larger unrecognized tax benefits compared to the same period in the prior year.

The Company had gross unrecognized tax benefits of $ 267.2 million on March 31, 2025 and $ 257.5 million on December 31, 2024.

The provision for income taxes was $ 77.0 million and $ 69.7 million for the three months ended June 30, 2025 and 2024, respectively.

The effective income tax rate was 24.2 % and 23.3 % for the three months ended June 30, 2025 and 2024, respectively.

While both periods include benefits related to research and development tax credits, the current year effective income tax rate reflects a lower benefit than the same period in the prior year.

The provision for income taxes was $ 133.1 million and $ 118.8 million for the six months ended June 30, 2025 and 2024, respectively.

The effective income tax rate was 22.8 % and 21.3 % for the six months ended June 30, 2025 and 2024, respectively.

The increase in the effective income tax rate was primarily due to the same factor that caused the year-over-year quarterly increase.

The Company had gross unrecognized tax benefits of $ 273.3 million on June 30, 2025 and $ 257.5 million on December 31, 2024.

On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted in the U.S.

The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions.

The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027.

The Company is currently assessing the OBBBA's impact on its consolidated financial statements.

The Organization for Economic Co-operation and Development (“the OECD”) has issued various tax proposals including a two-pillar approach to global taxation (BEPS 2.0/ Pillar Two), focusing on global profit allocation and a 15% global corporate minimum tax rate.

7 unchanged sentences

The tables below provide information regarding the Company’s outstanding derivative contracts as of the dates indicated (in thousands, except for number of contracts).

March 31, 2025

June 30, 2025

Derivative Contract Type Number of

25 unchanged sentences

These contracts are accounted for at fair value with realized and unrealized gains and losses recognized in Other income, net because the Company does not designate these contracts as hedges for accounting purposes.

All of the outstanding foreign currency forward exchange contracts at March 31, 2025 matured before April 30, 2025.

All of the outstanding foreign currency forward exchange contracts at June 30, 2025 matured before July 31, 2025.

(3) See Note 11 — Fair Value Disclosures for the determination of the fair values of these instruments.

At March 31, 2025, all of the Company’s derivative counterparties were investment grade financial institutions.

At June 30, 2025, all of the Company’s derivative counterparties were investment grade financial institutions.

The Company did not have any collateral arrangements with its derivative counterparties and none of the derivative contracts contained credit-risk related contingent features.

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

Three Months Ended

Three Months Ended Six Months Ended

June 30, June 30,

Amount recorded in:

Interest expense, net (1) $ 4,464 $ 4,806

Other income, net (2)

2025 2024 2025 2024

Interest expense, net (1) $ 4,471 $ 4,870 $ 8,935 $ 9,676

Other expense (income), net (2) 62 ( 1,755 ) ( 534 ) ( 6,069 )

Total expense, net

24 unchanged sentences

The table below presents the fair values of certain financial assets and liabilities that are measured at fair value on a recurring basis in the Company's financial statements (in thousands).

Description March 31,

Description June 30,

2025 December 31,

25 unchanged sentences

Carrying Amount Fair Value

March 31, December 31, March 31, December 31,

June 30, December 31, June 30, December 31,

Description 2025 2024 2025 2024

5 unchanged sentences

The Company’s certain long-lived assets, including identifiable intangible assets, goodwill, right-of-use assets and other long-lived assets, are measured at fair value on a nonrecurring basis when there are indicators of impairment.

The Company recorded an impairment loss during the three months ended March 31, 2024 and $ 0.5 million on right-of-use assets and other long-lived assets primarily related to certain office leases that the Company determined will no longer be used.

The Company recorded an impairment loss of $ 0.6 million and $ 0.5 million during the six months ended June 30, 2025 and 2024, respectively, on right-of-use assets and other long-lived assets primarily related to certain office leases that the Company determined will no longer be used.

The impairments were derived by comparing the fair value of the impacted assets to the carrying value of those assets as of the impairment measurement date, as required under ASC Topic 360 using Level 3 inputs.

11 unchanged sentences

these agreements have not been material.

As of March 31, 2025, the Company did not have any material payment obligations under any such indemnification agreements.

As of June 30, 2025, the Company did not have any material payment obligations under any such indemnification agreements.

Note 13 — Leases

4 unchanged sentences

Additionally, certain of the Company’s lease agreements provide standard recurring escalations of lease payments for, among other things, increases in a lessor’s maintenance costs and taxes.

Under some lease agreements, the Company may be entitled to allowances, free rent, lessor-financed tenant improvements and other incentives.

Under some lease

agreements, the Company may be entitled to allowances, free rent, lessor-financed tenant improvements and other incentives.

The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

7 unchanged sentences

The table below presents the Company’s net lease cost and certain other information related to the Company’s leasing activities as of and for the periods indicated (dollars in thousands).

Three Months Ended

Three Months Ended Six Months Ended

2025 2024 2025 2024

Operating lease cost (1) $ 23,296 $ 25,656 $ 47,644 $ 51,559

5 unchanged sentences

Right-of-use assets obtained in exchange for new operating lease liabilities $ 10,048 $ 3,944 $ 15,119 $ 10,735

(1) Included in operating lease cost was $ 8.5 million and $ 9.2 million for the three months ended March 31, 2025 and 2024, respectively, for costs related to subleasing activities.

(1) Included in operating lease cost was $ 8.4 million and $ 9.2 million for the three months ended June 30, 2025 and 2024, respectively, and $ 16.9 million and $ 18.4 million for the six months ended June 30, 2025 and 2024, respectively, for costs related to subleasing activities.

(2) These amounts are primarily variable lease and nonlease costs that are not fixed at the lease commencement date or are dependent on something other than an index or a rate.

2 unchanged sentences

The table below indicates where the discounted operating lease payments from the above table are classified in the accompanying Condensed Consolidated Balance Sheets (in thousands).

March 31, December 31,

June 30, December 31,

Accounts payable and accrued liabilities $ 89,634 $ 100,312

1 unchanged sentence

Total operating lease liabilities included in the Condensed Consolidated Balance Sheets $ 400,784 $ 440,091

As a result and in consideration of the changing nature of the Company’s use of office space, the Company continues to evaluate its existing real estate lease portfolio.

In connection with this evaluation, the Company reviewed certain of its right-of-use assets and related other long-lived assets for impairment under ASC 360.

As a result of the evaluation, the Company recognized an impairment loss during the three months ended March 31, 2024 of $ 0.5 million which is included as a component of Selling, general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations.

The impairment losses recorded include $ 0.4 million related to right-of-use assets and $ 0.1 million related to other long-lived assets, primarily leasehold improvements, for the three months ended March 31, 2024.

In connection the continuing evaluation of its existing real estate portfolio, the Company reviewed certain of its right-of-use assets and related other long-lived assets for impairment under ASC 360.

As a result of the evaluation, the Company recognized an impairment loss during the six months ended June 30, 2025 and 2024 of $ 0.6 million and $ 0.5 million, respectively, which is included as a component of Selling, general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations.

The fair values for the asset groups relating to the impaired long-lived assets were estimated primarily using discounted cash flow models (income approach) with Level 3 inputs.

The significant assumptions used in estimating fair values include the

expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods and discount rates that reflect the level of risk associated with receiving future cash flows.

The significant assumptions used in estimating fair values include the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods and discount rates that reflect the level of risk associated with receiving future cash flows.

Note 14 — Subsequent Event

On July 31, 2025, the Company’s Board of Directors authorized incremental share repurchases of up to an additional $ 700.0 million of Gartner’s common stock.

This authorization is in addition to the previously authorized repurchases of up to $ 5.3 billion, which, as of the end of July 2025, had approximately $ 350.0 million remaining.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements