GARTNER INC
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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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.
FY2025 · Filed Feb 12, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities: | |||
| Net income | $729,231 | $1,253,715 | $882,466 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 200,309 | 202,315 | 191,103 |
| Stock-based compensation expense | 155,877 | 154,784 | 129,841 |
| Deferred taxes | 828 | (162,081) | (64,173) |
| Goodwill impairment | 150,000 | — | — |
| Gain from sale of divested operation | — | — | (135,410) |
| Loss on impairment of lease related assets, net | 4,766 | 10,909 | 20,368 |
| Reduction in the carrying amount of operating lease right-of-use assets | 64,196 | 65,742 | 70,207 |
| Amortization and write-off of deferred financing fees and unamortized discounts | 4,288 | 4,591 | 4,689 |
| Gain on de-designated swaps | (489) | (3,870) | (3,925) |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Fees receivable, net | 38,027 | (137,768) | (24,662) |
| Deferred commissions | 25,250 | (41,555) | (13,716) |
| Prepaid expenses and other current assets | 1,760 | (28,933) | (7,893) |
| Other assets | (30,939) | (43,503) | (34,528) |
| Deferred revenues | (41,944) | 181,180 | 169,917 |
| Accounts payable and accrued and other liabilities | (10,795) | 29,396 | (28,547) |
| Cash provided by operating activities | 1,290,365 | 1,484,922 | 1,155,737 |
| Investing activities: | |||
| Additions to property, equipment and leasehold improvements | (115,142) | (101,737) | (103,124) |
| Acquisitions - cash paid (net of cash acquired) | — | (2,000) | (3,800) |
| Proceeds from sale of divested operation | — | — | 161,081 |
| Cash (used in) provided by investing activities | (115,142) | (103,737) | 54,157 |
| Financing activities: | |||
| Proceeds from employee stock purchase plan | 32,450 | 28,187 | 25,107 |
| Proceeds from issuance of long-term debt, net of discounts | 799,859 | — | — |
| Payments for deferred financing fees | (6,480) | (2,972) | — |
| Proceeds from revolving credit facility | — | 274,400 | — |
| Payments on revolving credit facility | (274,400) | — | — |
| Payments on long-term debt | — | (274,400) | (7,800) |
| Purchases of treasury stock | (1,991,147) | (735,358) | (606,188) |
| Cash used in financing activities | (1,439,718) | (710,143) | (588,881) |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (264,495) | 671,042 | 621,013 |
| Effects of exchange rates on cash and cash equivalents and restricted cash | 53,869 | (57,494) | (13) |
| Cash and cash equivalents and restricted cash, beginning of year | 1,933,147 | 1,319,599 | 698,599 |
| Cash and cash equivalents and restricted cash, end of year | $1,722,521 | $1,933,147 | $1,319,599 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest | $99,503 | $100,085 | $119,038 |
| Income taxes, net of refunds received | $209,557 | $312,895 | $306,682 |
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