GARTNER INC
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 15, 2024
IT$188.92-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net income | $882,466 | $807,799 | $793,560 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 191,103 | 191,946 | 212,405 |
| Stock-based compensation expense | 129,841 | 90,566 | 98,570 |
| Deferred taxes | (64,173) | (30,702) | (41,567) |
| Gain from sale of divested operation | (135,410) | — | — |
| Loss on impairment of lease related assets, net | 20,368 | 53,970 | 49,537 |
| Reduction in the carrying amount of operating lease right-of-use assets | 70,207 | 70,086 | 75,125 |
| Amortization and write-off of deferred financing fees | 4,689 | 4,574 | 4,162 |
| Gain on de-designated swaps | (3,925) | (52,308) | (20,204) |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Fees receivable, net | (24,662) | (240,696) | (145,346) |
| Deferred commissions | (13,716) | 5,574 | (124,874) |
| Prepaid expenses and other current assets | (7,893) | (3,039) | (15,913) |
| Other assets | (34,528) | 8,440 | (18,287) |
| Deferred revenues | 169,917 | 297,124 | 324,059 |
| Accounts payable and accrued and other liabilities | (28,547) | (101,912) | 121,243 |
| Cash provided by operating activities | 1,155,737 | 1,101,422 | 1,312,470 |
| Investing activities: | |||
| Additions to property, equipment and leasehold improvements | (103,124) | (108,050) | (59,834) |
| Acquisitions - cash paid (net of cash acquired) | (3,800) | (9,508) | (22,939) |
| Proceeds from sale of divested operation | 161,081 | — | — |
| Other | — | — | 2,306 |
| Cash provided by (used in) investing activities | 54,157 | (117,558) | (80,467) |
| Financing activities: | |||
| Proceeds from employee stock purchase plan | 25,107 | 22,231 | 18,173 |
| Proceeds from borrowings | — | — | 600,000 |
| Payments for deferred financing fees | — | — | (7,320) |
| Payments on revolving credit facility | — | — | (5,000) |
| Payments on borrowings | (7,800) | (5,931) | (107,915) |
| Purchases of treasury stock | (606,188) | (1,043,742) | (1,655,547) |
| Cash used in financing activities | (588,881) | (1,027,442) | (1,157,609) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 621,013 | (43,578) | 74,394 |
| Effects of exchange rates on cash and cash equivalents and restricted cash | (13) | (18,425) | (26,375) |
| Cash and cash equivalents and restricted cash, beginning of year | 698,599 | 760,602 | 712,583 |
| Cash and cash equivalents and restricted cash, end of year | $1,319,599 | $698,599 | $760,602 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest | $119,038 | $112,825 | $101,885 |
| Income taxes, net of refunds received | $306,682 | $174,802 | $253,379 |
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