Gartner, Inc. · NYSE:IT
Gartner — Investor Day (February 2018)
153 slides from Gartner's investor day presentation, Feb 15, 2018
Slide 1: 2018 Investor Day
2018 Investor Day Gartner.
Slide 2: Forward-looking statements
1 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Statements contained in this presentation regarding the growth and prospects of the business, the Company’s projected 2018 financial results, long - term objectives and all other statements in this pres
Slide 3: Gartner Investor Day 2018 Agenda
2 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. ▪ Gene Hall, CEO ▪ Peter Sondegaard , EVP, Research & Advisory ▪ Break for lunch ▪ Joe Beck, EVP, Global Technology Sales ▪ Chris Thomas, EVP, Global Business Sales ▪ Craig Safian , EVP & CFO ▪ Q&A – Ge
Slide 4: Strategy for Achieving Sustained Double Digit Growth
Strategy for Achieving Sustained Double Digit Growth GENE HALL
Slide 5: Detailed overview of our business
4 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Detailed overview of our business Continue creating extraordinary value Long - term, double digit growth in key financial metrics
Slide 6: Gartner Overview
5 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Overview $ 4B+ Revenues 15,000 Associates 12,000 Client Enterprises 100 Countries
Slide 7: Gartner Business Segments
6 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 6 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Business Segments $4.2 Billion Research 75% Events 10% Consulting 8% TA & Other 7%
Slide 8: Gartner Business Segments
7 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 7 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Business Segments $ 4.2 Billion Research 75% Events 10% Consulting 8% TA & Other 7%
Slide 9: Gartner Business Segments
8 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 8 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Business Segments $4.2 Billion Research 75% Events 10% Consulting 8% TA & Other 7%
Slide 10: Gartner Business Segments
9 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 9 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Business Segments $4.2 Billion Research 75% Events 10% Consulting 8% TA & Other 7%
Slide 11: Gartner Business Segments
10 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 10 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Business Segments $4.2 Billion Research 75% Events 10% Consulting 8% TA & Other 7%
Slide 12: Our Strong Value Proposition for Clients
11 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Our Strong Value Proposition for Clients Actionable Insights Products, Pricing and Terms Benchmarks Connect with Peers Professional Development
Slide 13: AND PROPRIETARY I
12 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 14: Developing the Gartner Formula
13 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 13 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Developing the Gartner Formula ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 Indispensable Insights Exceptional
Slide 15: The Gartner Formula for Sustained Long-Term Double Digit Growth
14 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Formula For Sustained Long - Term Double Digit Growth
Slide 16: Gartner Market Opportunity
15 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 15 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Market Opportunity IT $55B
Slide 17: Applying the Gartner Formula to Accelerate Supply Chain
16 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 16 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Applying the Gartner Formula to Accelerate Supply Chain ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 ‘17 CAGR 24% $
Slide 18: Gartner Market Opportunity
17 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 17 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Market Opportunity Supply Chain $23B Total $78B IT $55B
Slide 19: Applying the Gartner Formula to Grow Marketing
18 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 18 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Applying the Gartner Formula to Grow Marketing ‘13 ‘14 ‘15 ‘16 ‘17 Organic CAGR 76% ‘12 $20M Indispens
Slide 20: Gartner Market Opportunity
19 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 19 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Market Opportunity M arketing $25B Supply Chain $23B Total $103B IT $55B
Slide 21: Applying the Gartner Formula to Accelerate Technology Contract Value Growth
20 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 20 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Applying the Gartner Formula to Accelerate Technology Contract Value Growth ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘1
Slide 22: Contract Value and Free Cash Flow Growth
21 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 21 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 ‘17 ‘04 ‘05 ‘06 ‘07 ‘08 CV ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16 ‘17 ‘04 ‘05
Slide 23: Three Megaforces Driving Unprecedented Change
22 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Three Megaforces Driving Unprecedented Change MACROECONOMIC & POLITICAL VOLATILITY TECHNOLOGY - DRIVEN INDUSTRY DISRUPTION TECHNOLOGY PERVASIVENESS 101101 011010 010011
Slide 24: Technology is Pervasive Across the Enterprise
23 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Analytics Mobility Enablement AI & Machine Learning Natural Language Processing Technology is Pervasive Across the Enterprise Supply Chain Marketing Sales Information Technology Human Resources Legal F
Slide 25: Three Megaforces Driving Unprecedented Change
24 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Three Megaforces Driving Unprecedented Change MACROECONOMIC & POLITICAL VOLATILITY TECHNOLOGY - DRIVEN INDUSTRY DISRUPTION TECHNOLOGY PERVASIVENESS 101101 011010 010011
Slide 26: The Scope, Scale and Impact of Technology-Driven Disruption is Enormous
25 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Scope, Scale and Impact of Technology - Driven Disruption is Enormous *Trademarks depicted are the property of the respective companies.
Slide 27: Three Megaforces Driving Unprecedented Change
26 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Three Megaforces Driving Unprecedented Change MACROECONOMIC & POLITICAL VOLATILITY TECHNOLOGY - DRIVEN INDUSTRY DISRUPTION TECHNOLOGY PERVASIVENESS 101101 011010 010011
Slide 28: Technology + Business Expertise Drives Value
27 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Technology Expertise Technology + Business Expertise Drives Value Supply Chain Marketing Sales Information Technology Human Resources Legal Finance Customer Svc. & Support General Manager Functional Ex
Slide 29: Applying the Gartner Formula to Grow Heritage CEB
28 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 28 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Applying the Gartner Formula to Grow Heritage CEB ‘14 ‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21 ‘22 CAGR 0 % Indispe
Slide 30: Technology Large Market Opportunity
29 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 29 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Technology Large Market Opportunity 55 23 25 14 24 38 19 198 Supply Chain Marketing Human Resources Fi
Slide 31: Maximizing Growth While Minimizing Risk
30 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 30 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Maximizing Growth While Minimizing Risk Heritage Gartner $2.2B (+15%) Global Technology Sales Heritage
Slide 32: Maximizing Growth While Minimizing Risk
31 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 31 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Maximizing Growth While Minimizing Risk Global Technology Sales Tech Global Business Sales Supply Chai
Slide 33: Better Together
32 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. + Better Together
Slide 34: Accelerating Growth Investments
33 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 33 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Accelerating Growth Investments INVESTMENT TIME Initial Plan Accelerated Plan
Slide 35: In Summary
34 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. In Summary Integration approach to maximize growth while minimizing risk The Gartner Formula drives sustained, double digit growth Gartner + CEB gives us leading capabilities and a large market opportu
Slide 36: AND PROPRIETARY I
35 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 37: Indispensable Insights for Every Function Across the Enterprise
Indispensable Insights for Every Function Across the Enterprise PETER SONDERGAARD
Slide 38: Better Together, Leverage Everywhere, Urgent and Relevant
37 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Better Together Leverage Everywhere Urgent and Relevant
Slide 39: Gartner Research & Advisory
38 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Research & Advisory Best practices and talent management insights Analyst - driven, syndicated research and advisory services Combined two exceptional research models
Slide 40: Better Together
39 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Better Together
Slide 41: Gartner Serves All Major Functions
40 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Serves All Major Functions Supply Chain Marketing Sales Information Technology Human Resources Legal Finance Customer Svc. & Support General Manager
Slide 42: Human Resources
41 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Head of HR Learning & Development Leader Recruiting Leader Total Rewards Leader Compensation Global L&D Talent Analytics Recruiting Benefits Regional HR Leader HRIS Talent Mgmt. Leader Diversity & Incl
Slide 43: Three Complementary Research Models
42 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Analysis & Evaluation Peer & Practitioner Research Quantitative Modeling Research Models Functions & Roles Three Complementary Research Models Supply Chain Marketing Sales Information Technology Human
Slide 44: One Research & Advisory Organization at Scale
43 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 2,013 Analysts, Advisors, Researchers One Research & Advisory Organization at Scale 1,270 North America 430 Europe, the Middle East and Africa 282 Asia - Pacific 31 Latin America
Slide 45: Better Together
44 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Better Together HELEN POITEVIN Research Director , Human Capital Management Technologies DION LOVE Principal Executive Advisor , HR
Slide 46: Highly Complementary Value Propositions
45 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. CEB Strategic Guidance Case Studies, Tools & Templates Peer Experience Expert Advice Gartner How Needs are Met Source: Interviews with joint clients What Clients Need Gartner CEB Strategy Execution Bus
Slide 47: Leverage Everywhere
46 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Leverage Everywhere
Slide 48: Research & Advisory coverage
47 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Research & Advisory coverage Supply Chain Marketing Sales Information Technology Human Resources Legal Finance Customer Svc. & Support Global CxO CxO Enterprise Leaders Leaders Professionals General Ma
Slide 49: Gartner Prioritizes and Invests in Covering What is Important to Each Role
48 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Prioritizes and Invests in Covering What is Important to Each Role T T T T T T T T T T T T T T T T T T T T Library of Topics EA & Tech Innovation Applications Infrastructure & Operations Progra
Slide 50: Leveraging Content Everywhere
49 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Leveraging Content Everywhere AI Supply Chain Marketing Sales Information Technology Human Resources Legal Finance Customer Svc. & Support General Manager AI AI AI AI AI AI AI AI
Slide 51: Video
50 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. VIDEO
Slide 52: Leveraging Content Everywhere
51 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Leveraging Content Everywhere Talent Talent Talent Talent Talent Talent Talent Talent Talent AI AI AI AI AI AI AI AI AI Supply Chain Marketing Sales Information Technology Human Resources Legal Finance
Slide 53: Topics That Impact All Functions
52 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Topics That Impact All Functions Driving Digital Business Transformation for Industry Leadership Driving Cost Optimization Across the Enterprise Leading the Next Generation Workforce Supply Chain Marke
Slide 54: Urgent and Relevant
53 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Urgent and Relevant
Slide 55: Technology Trends Impacting All Functions
54 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Technology Trends Impacting All Functions Artificial Intelligence Software Everywhere Internet of Things Cloud to the Edge Blockchain
Slide 56: Nexus of Forces
55 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Nexus of Forces
Slide 57: Key Priorities for HR Leaders
56 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Key Priorities for HR Leaders Customize HR - Employee Interactions Team - Based Performance Management Digitalize HR Source: Gartner Survey, December 2017
Slide 58: Video
57 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. VIDEO
Slide 59: Key Priorities for Finance Leaders
58 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Key Priorities for Finance Leaders Optimize Costs Grow the Business Recruit and Retain the Best Talent Source: Gartner Survey, December 2017
Slide 60: Key Priorities for Sales Leaders
59 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Key Priorities for Sales Leaders New Customer Acquisition Existing Account Retention and Growth Sales Talent Acquisition and Retention Source: Gartner Survey, December 2017
Slide 61: Our Strong Value Proposition for Clients
60 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Our Strong Value Proposition for Clients Actionable Insights Products, Pricing and Terms Benchmarks Connect with Peers Professional Development
Slide 62: Summary
61 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Summary Better Together Leverage Everywhere Urgent and Relevant
Slide 63: Global Technology Sales
Global Technology Sales JOE BECK, EVP
Slide 64: Global Technology Sales at a glance
63 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. $2.2B in Contract Value 2,700 sales people 100 countries Selling in 1,200 enterprises
Slide 65: Large Opportunity, Effective Strategy, Unrivaled Capabilities
64 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. LARGE Opportunity EFFECTIVE Strategy UNRIVALED Capabilities
Slide 66: Covering the Entire IT Organization
65 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Covering the Entire IT Organization Senior IT Leaders CIO IT Managers Tech Professionals
Slide 67: Market Opportunity – New Enterprise
66 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 66 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Market Opportunity – New Enterprise Opportunity Current Enterprises Covered Enterprises Uncovered Ente
Slide 68: GTS Sales Excellence
67 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. GTS Sales Excellence LARGE Opportunity EFFECTIVE Strategy UNRIVALED Capabilities
Slide 69: Three Megaforces Driving Unprecedented Change
68 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Three Megaforces Driving Unprecedented Change MACROECONOMIC & POLITICAL VOLATILITY TECHNOLOGY - DRIVEN INDUSTRY DISRUPTION TECHNOLOGY PERVASIVENESS 101101 011010 010011
Slide 70: Helping Clients Cut Costs
69 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. ▪ Leverage tools ▪ Optimize cost ▪ Return to growth Helping Clients Cut Costs
Slide 71: Helping Clients Fuel Growth
70 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Helping Clients Fuel Growth
Slide 72: AND PROPRIETARY I AND PROPRIETARY I AND PROPRIETARY I
71 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 71 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 71 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 73: AND PROPRIETARY I AND PROPRIETARY I AND PROPRIETARY I
72 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 72 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 72 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 74: Covering the Entire IT Organization
73 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Covering the Entire IT Organization Senior IT Leaders CIO IT Managers Tech Professionals
Slide 75: Better Together
74 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Better Together
Slide 76: Video
75 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. VIDEO
Slide 77: Sales Excellence Playbook
76 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 76 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Sales Excellence Playbook Recruiting Training Tools Best Practices
Slide 78: Strategies to Capture Market Opportunity
77 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Strategies to Capture Market Opportunity Globally Diverse Sales Organization Matched to Global Opportunity Agile Territory Planning Capabilities
Slide 79: Gartner Sales: A Great Place to Work
78 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Culture ▪ Strategic relationships ▪ Collaboration ▪ Leading tools and best practices ▪ Innovative products Gartner Sales: A Great Place to Work 78 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner,
Slide 80: Gartner Sales: A Great Place to Work
79 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner Sales: A Great Place to Work 79 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Most Innovative Growth Companies 2015 America’s Best Midsized Emp
Slide 81: Large Opportunity, Effective Strategy, Unrivaled Capabilities
80 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. LARGE Opportunity EFFECTIVE Strategy UNRIVALED Capabilities
Slide 82: AND PROPRIETARY I
81 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 83: Global Business Sales
Global Business Sales CHRIS THOMAS, EVP
Slide 84: Applying the Gartner Formula Across GBS
83 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Applying the Gartner Formula Across GBS
Slide 85: Who are we? How have we reset the foundation?
84 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Who are we? How have we reset the foundation? How are we applying Sales Excellence to drive accelerated growth?
Slide 86: Global Business Sales Overview
85 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Supply Chain Marketing Sales Human Resources Legal Finance Customer Svc. & Support General Manager $600M in Contract Value 700 sales people 73% of sales people are based in the U.S.
Slide 87: Better Together
86 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Better Together +
Slide 88: Resetting the Foundation for Growth
87 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Resetting the Foundation for Growth Functional Alignment Research Growth Seat - Based Solutions No Discounting Consistent Price Increases Tech Supply Chain Marketing GBS
Slide 89: Enterprise Seat-Based
88 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 88 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Enterprise Seat - Based
Slide 90: Resetting the Foundation for Growth
89 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Resetting the Foundation for Growth Functional Alignment Research Growth Seat - Based Solutions No Discounting Consistent Price Increases Tech Supply Chain Marketing GBS
Slide 91: Team, Capacity, Capabilities, Opportunity, Best Practices
90 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. TEAM CAPACITY CAPABILITIES OPPORTUNITY BEST PRACTICES
Slide 92: Team, Opportunity, Capacity, Capabilities, Best Practices
91 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. TEAM OPPORTUNITY CAPACITY CAPABILITIES BEST PRACTICES
Slide 93: Video
92 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. VIDEO
Slide 94: Team, Opportunity, Capacity, Capabilities, Best Practices
93 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. TEAM OPPORTUNITY CAPACITY CAPABILITIES BEST PRACTICES
Slide 95: Capacity, Opportunity, Capabilities, Best Practices
94 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. CAPACITY OPPORTUNITY CAPABILITIES BEST PRACTICES
Slide 96: AND PROPRIETARY I Add supply chain generic event photo 95 AND PROPRIETARY I
95 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Add supply chain generic event photo 95 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 97: AND PROPRIETARY I
96 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 98: Video
97 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. VIDEO
Slide 99: Capacity, Capabilities, Best Practices, Opportunity
98 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. CAPACITY CAPABILITIES BEST PRACTICES OPPORTUNITY
Slide 100: Capacity, Capabilities, Best Practices, Opportunity
99 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. CAPACITY CAPABILITIES BEST PRACTICES OPPORTUNITY
Slide 101: Functions Served and Opportunity
100 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Human Resources Supply Chain Marketing Legal Finance Customer Svc. & Support General Manager 12,000 $90,000 $1Billion+ Sales
Slide 102: Functions Served
101 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Human Resources Supply Chain Marketing Legal Finance Customer Svc. & Support General Manager Sales
Slide 103: Capabilities, Capacity, Best Practices, Opportunity
102 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. CAPABILITIES CAPACITY BEST PRACTICES OPPORTUNITY
Slide 104: Three Complimentary Research Models
103 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Three Complimentary Research Models Analysis & Evaluation Peer & Practitioner Research Quantitative Modeling Research Models Functions & Roles Supply Chain Marketing Sales Human Resources Legal Financ
Slide 105: Capacity, Capabilities, Opportunity, Best Practices
104 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. CAPACITY CAPABILITIES OPPORTUNITY BEST PRACTICES
Slide 106: Sales Excellence Playbook
105 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 105 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Sales Excellence Playbook Recruiting Training Tools Best Practices
Slide 107: Leveraging Gartner's Enabling Infrastructure
106 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Leveraging Gartner’s Enabling Infrastructure
Slide 108: Sustained Long-Term Double Digit Growth
107 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. TEAM CAPACITY CAPABILITIES Sustained Long - Term Double Digit Growth OPPORTUNITY BEST PRACTICES
Slide 109: The Gartner Business Model
The Gartner Business Model CRAIG SAFIAN
Slide 110: The Gartner Formula: Large Market Opportunity
109 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Formula Large Market Opportunity Attractive Gartner Business Model Invest to Drive Growth and Value
Slide 111: The Gartner Formula: Large Market Opportunity
110 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Formula Large Market Opportunity Attractive Gartner Business Model Invest to Drive Growth and Value
Slide 112: In Depth Look at Our Market Opportunity
111 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 111 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. In Depth Look at Our Market Opportunity 138,000 Enterprises Tech Addressable Market $55B C - Level D
Slide 113: Market Opportunity: New Enterprise
112 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 112 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Market Opportunity: New Enterprise Opportunity Current Enterprises Covered Enterprises Uncovered Ent
Slide 114: Increasing Number of Enterprises
113 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 113 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Increasing Number of Enterprises 9,071 9,958 10,796 11,122 11,904 2013 2015 2017 2016 2014 Note: Her
Slide 115: Increasing Average CV per Enterprise
114 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 114 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Increasing Average CV per Enterprise $142k $148k $155k $169k $181k Note: Heritage Gartner, Tech only
Slide 116: Growing Within Existing Enterprises
115 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 115 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Growing Within Existing Enterprises $181k Average CV Per Enterprise
Slide 117: Growing Within Existing Enterprises
116 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 116 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Growing Within Existing Enterprises $181k Average CV Per Enterprise
Slide 118: Technology Large Market Opportunity
117 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 117 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Technology Large Market Opportunity 55 23 25 14 24 38 19 198 Supply Chain Marketing Human Resources
Slide 119: Functions Served and Opportunity
118 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Human Resources Supply Chain Marketing Legal Finance Customer Svc. & Support General Manager 12,000 $90,000 $1Billion+ Sales
Slide 120: The Gartner Formula: Attractive Business Model
119 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Formula Large Market Opportunity Attractive Gartner Business Model Invest to Drive Growth and Value
Slide 121: Revenue Mix by Segment
120 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Events 10% Consultin g 8% TA & Other [PERCENT AGE] Research 75%
Slide 122: The Gartner Business Model
121 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Recurring revenue High renewal rates High contribution margins Negative working capital Low capital intensity The Gartner Business Model For Sustained Long - Term Double Digit Growth
Slide 123: Projected Double Digit Growth in 2018
122 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 122 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Projected Double Digit Growth in 2018 12% 11% 11% FCF Growth EBITDA Growth Revenue Growth Notes: Gro
Slide 124: CV Growth Algorithm
123 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 123 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Year 2 115 New 10 Existing 18 Price 3 Attrition (16) CV Growth Algorithm Notes: Illustrative Heritag
Slide 125: The Gartner Business Model
124 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Business Model For Sustained Long - Term Double Digit Growth
Slide 126: Research Gross Contribution Margin
125 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Research Gross Contribution Margin 70%
Slide 127: Total Gross Contribution Margin
126 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Total Gross Contribution Margin 63%
Slide 128: SG&A: Selling and G&A
127 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. SG&A Selling G&A
Slide 129: EBITDA and Free Cash Flow
128 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. EBITDA Free Cash Flow
Slide 130: The Gartner Formula: Invest to Drive Growth and Value
129 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Formula Large Market Opportunity Attractive Gartner Business Model Invest to Drive Growth and Value
Slide 131: New Hire Investment
130 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. New Hire Investment Hire Recruiters and Trainers, Procure Office Space Recruit and Hire Sales Train Sales Deploy in Territory 1 st Sale Decide to Grow
Slide 132: Sales Productivity Gains
131 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Sales Productivity Gains Year 1 Year 2 Year 3 Year 4 Year 5 Cost CV New Hire Full Productivity Note: Illustrative example
Slide 133: Enabling Infrastructure
132 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Enabling Infrastructure Recruiting Training Facilities Sales Support Centers of Excellence CRM with Smart AI
Slide 134: Global Technology and Global Business Sales: 2017 CV
133 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 133 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. $2.0B $2.2B $0.6B $0.6B Global Technology and Global Business Sales: 2017 CV +12% $2.8B Y/E 2017 $2.
Slide 135: Growth Objectives
134 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Growth Objectives Growth Rate Research GTS 12 – 16% GBS 12 – 16% Events 5 – 10% Consulting 3 – 8% Revenue 10 – 14% Adjusted EBITDA 10 – 14% Free Cash Flow 10 – 14% Note: Please see appendix for non -
Slide 136: Capital Structure and Leverage
135 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 135 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Capital Structure and Leverage April 2017 Dec 2017 Dec 2018E Notes: April 2017 was time of closing f
Slide 137: Capital Allocation Strategy
136 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Strategic Acquisitions Share Repurchases Capital Allocation Strategy
Slide 138: The Gartner Business Model for Sustained Long-Term Double Digit Growth
137 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. The Gartner Formula The Gartner Business Model For Sustained Long - Term Double Digit Growth
Slide 139: Appendix
138 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 140: Global Technology Sales and Global Business Sales Contract Value
139 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 139 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Global Technology Sales and Global Business Sales Contract Value @ 2018 rates ($M) Q4 15 Q1 16 Q2 16
Slide 141: Heritage Gartner: Contract Value
140 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 140 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Heritage Gartner: Contract Value* ($M) *At 2018 FX rates Does not include CEB or L2
Slide 142: Heritage Gartner: Client Enterprises
141 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 141 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Heritage Gartner: Client Enterprises
Slide 143: Heritage Gartner: Sales Quota Bearing Headcount
142 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 142 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Heritage Gartner: Sales Quota Bearing Headcount * Includes L2
Slide 144: Balance Sheet and Capital Structure
143 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 143 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Balance Sheet and Capital Structure Net Debt* / EBITDA Ratio *Net Debt in Leverage Ratio calculated
Slide 145: Definitions
144 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 144 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Definitions Adjusted Revenue : Represents GAAP revenue plus non - cash fair value adjustments on pre
Slide 146: 2018 Guidance
145 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 145 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 2018 Guidance In $ millions, except per share amounts 2018 Guidance Range Research adjusted revenue
Slide 147: Additional 2018 Guidance Items
146 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 146 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Additional 2018 Guidance Items In $ millions, except per share amounts 2018 Guidance Range Stock - b
Slide 148: GAAP and Adjusted EPS 2018 Outlook
147 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 147 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. GAAP and Adjusted EPS* 2018 Outlook $1.26 – $1.66 *Adjusting items calculated at the midpoint of gui
Slide 149: Adjusted Revenue Reconciliation: 2018 Guidance
148 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 148 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Adjusted Revenue Reconciliation: 2018 Guidance In $ millions 2018 GAAP Revenue Guidance Deferred Rev
Slide 150: Reconciliation: GAAP Revenue to Adjusted Revenue
149 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 149 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Reconciliation: GAAP Revenue to Adjusted Revenue* In $ millions 2016 2017 Total revenue (GAAP) 2,445
Slide 151: Reconciliation: Operating Income to Adjusted EBITDA
150 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 150 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Reconciliation: Operating Income to Adjusted EBITDA ( a) In $ millions 2016 2017 Net (loss) income 1
Slide 152: Reconciliation: Operating Income to Adjusted Net Income
151 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 151 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Reconciliation: Operating Income to Adjusted Net Income (a) In $ millions, except per share amounts
Slide 153: Reconciliation: GAAP Cash from Operations to Free Cash Flow
152 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. 152 CONFIDENTIAL AND PROPRIETARY I © 2018 Gartner, Inc. and/or its affiliates. All rights reserved. Reconciliation: GAAP Cash Provided by Operating Activities to Free Cash Flow (a) In $ millions 2016