Clarivate (CLVT) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38911
Entity Registrant Name	CLARIVATE PLC
Entity Incorporation, State or Country Code	Y9
Entity Address, Address Line One	70 St. Mary Axe
Entity Address, City or Town	London
Entity Address, Postal Zip Code	EC3A 8BE
Entity Address, Country	GB
Country Region	44
City Area Code	207
Local Phone Number	4334000
Title of 12(b) Security	Ordinary Shares, no par value
Trading Symbol	CLVT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		724,140,994
Entity Central Index Key	0001764046
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Tax Identification Number	00-0000000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents, including restricted cash	$ 376.4	$ 370.7
Accounts receivable, net	796.3	908.3
Prepaid expenses	87.1	88.5
Other current assets	75	68
Assets held for sale	0	26.7
Total current assets	1,334.8	1,462.2
Property and equipment, net	46	51.6
Other intangible assets, net	8,771.3	9,006.6
Goodwill	1,736.5	2,023.7
Other non-current assets	91.6	60.8
Deferred income taxes	49.3	46.7
Operating lease right-of-use assets	48.2	55.2
Total assets	12,077.7	12,706.8
Current liabilities:
Accounts payable	128.1	144.1
Accrued compensation	107.2	126.5
Accrued expenses and other current liabilities	314.1	315.2
Current portion of deferred revenues	912.4	983.1
Current portion of operating lease liability	23.3	24.4
Liabilities held for sale	0	6.7
Total current liabilities	1,485.1	1,600
Long-term debt	4,635.3	4,721.1
Non-current portion of deferred revenues	23.9	38.7
Other non-current liabilities	49.9	41.9
Deferred income taxes	229	249.6
Operating lease liabilities	49.9	63.2
Total liabilities	6,473.1	6,714.5
Commitments and contingencies (Note 14)
Shareholders' equity:
Preferred Shares, no par value; 14.4 shares authorized; 5.25% Mandatory Convertible Preferred Shares, Series A, 0.0 shares issued and outstanding as of both June 30, 2024 and December 31, 2023	0	1,392.6
Ordinary Shares, no par value; unlimited shares authorized; 724.1 and 666.1 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	13,157.7	11,740.5
Accumulated other comprehensive loss	(497)	(495.3)
Accumulated deficit	(7,056.1)	(6,645.5)
Total shareholders' equity	5,604.6	5,992.3
Total liabilities and shareholders' equity	$ 12,077.7	$ 12,706.8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	14,400,000	14,400,000
Preferred stock, dividend rate (as a percent)	5.25%
Preferred stock, issued (in shares)	0	14,400,000
Preferred stock, outstanding (in shares)	0	14,400,000
Ordinary shares, par value (in dollars per share)	$ 0	$ 0
Ordinary shares, issued (in shares)	724,100,000	666,100,000
Ordinary shares, outstanding (in shares)	724,100,000	666,100,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 650.3	$ 668.8	$ 1,271.5	$ 1,297.9
Operating Expenses:
Cost of revenues	213.6	224.2	431.4	453.9
Selling, general and administrative costs	185.2	192.9	377.1	387.7
Depreciation and amortization	184.4	178.1	363.8	350.7
Goodwill and intangible asset impairments	302.8	135.2	302.8	135.2
Restructuring and other impairments	0.7	12.2	10.2	21.6
Other operating expense (income), net	3.6	14.5	21.2	(17.5)
Total operating expenses	890.3	757.1	1,506.5	1,331.6
Income (loss) from operations	(240)	(88.3)	(235)	(33.7)
Fair value adjustment of warrants	0	(2.9)	(5.2)	(1.8)
Interest expense, net	71.1	73	141.3	146.6
Income (loss) before income tax	(311.1)	(158.4)	(371.1)	(178.5)
Provision (benefit) for income taxes	(6.8)	(35.3)	8.2	(98.9)
Net income (loss)	(304.3)	(123.1)	(379.3)	(79.6)
Dividends on preferred shares	12.5	18.6	31.3	37.4
Net loss attributable to ordinary shares	$ (316.8)	$ (141.7)	$ (410.6)	$ (117)
Per share
Basic (in dollars per share)	$ (0.46)	$ (0.21)	$ (0.61)	$ (0.17)
Diluted (in dollars per share)	$ (0.46)	$ (0.21)	$ (0.61)	$ (0.17)
Weighted average shares used to compute earnings per share:
Basic (in shares)	685.6	675.9	676.2	675.4
Diluted (in shares)	685.6	675.9	676.2	675.4

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (304.3)	$ (123.1)	$ (379.3)	$ (79.6)
Other comprehensive income (loss), net of tax:
Interest rate swaps	(0.4)	7.3	2.2	(5.1)
Foreign currency translation adjustment	15.7	82.6	(3.9)	183.4
Other comprehensive income (loss), net of tax	15.3	89.9	(1.7)	178.3
Comprehensive income (loss)	$ (289)	$ (33.2)	$ (381)	$ 98.7

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Interest rate swaps, tax	$ (0.2)	$ 2.4	$ 0.7	$ (1.7)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) shares in Millions, $ in Millions	Total	Ordinary Shares	Preferred Shares	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at beginning of the period (in shares) at Dec. 31, 2022		674.4	14.4
Balance at beginning of the period at Dec. 31, 2022	$ 6,812.5	$ 11,744.7	$ 1,392.6	$ (665.9)	$ (5,658.9)
Increase (Decrease) in Shareholders' Equity
Vesting of restricted stock units (in shares)		1.8
Share-based award activity (in shares)		(0.6)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	33.7	$ 33.7
Dividends, Preferred Stock	(18.8)				(18.8)
Net income (loss)	43.5				43.5
Other comprehensive income (loss)	88.4			88.4
Balance at end of the period (in shares) at Mar. 31, 2023		675.6	14.4
Balance at end of the period at Mar. 31, 2023	6,959.3	$ 11,778.4	$ 1,392.6	(577.5)	(5,634.2)
Balance at beginning of the period (in shares) at Dec. 31, 2022		674.4	14.4
Balance at beginning of the period at Dec. 31, 2022	6,812.5	$ 11,744.7	$ 1,392.6	(665.9)	(5,658.9)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(79.6)
Other comprehensive income (loss)	178.3
Balance at end of the period (in shares) at Jun. 30, 2023		676.1	14.4
Balance at end of the period at Jun. 30, 2023	6,938.3	$ 11,809.2	$ 1,392.6	(487.6)	(5,775.9)
Balance at beginning of the period (in shares) at Mar. 31, 2023		675.6	14.4
Balance at beginning of the period at Mar. 31, 2023	6,959.3	$ 11,778.4	$ 1,392.6	(577.5)	(5,634.2)
Increase (Decrease) in Shareholders' Equity
Vesting of restricted stock units (in shares)		0.8
Share-based award activity (in shares)		(0.3)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	30.8	$ 30.8
Dividends, Preferred Stock	(18.6)				(18.6)
Net income (loss)	(123.1)				(123.1)
Other comprehensive income (loss)	89.9			89.9
Balance at end of the period (in shares) at Jun. 30, 2023		676.1	14.4
Balance at end of the period at Jun. 30, 2023	6,938.3	$ 11,809.2	$ 1,392.6	(487.6)	(5,775.9)
Balance at beginning of the period (in shares) at Dec. 31, 2023		666.1	14.4
Balance at beginning of the period at Dec. 31, 2023	5,992.3	$ 11,740.5	$ 1,392.6	(495.3)	(6,645.5)
Increase (Decrease) in Shareholders' Equity
Vesting of restricted stock units (in shares)		3.3
Share-based award activity (in shares)		(1.2)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	6.9	$ 6.9
Dividends, Preferred Stock	(18.8)				(18.8)
Net income (loss)	(75)				(75)
Other comprehensive income (loss)	(17)			(17)
Balance at end of the period (in shares) at Mar. 31, 2024		668.2	14.4
Balance at end of the period at Mar. 31, 2024	5,888.4	$ 11,747.4	$ 1,392.6	(512.3)	(6,739.3)
Balance at beginning of the period (in shares) at Dec. 31, 2023		666.1	14.4
Balance at beginning of the period at Dec. 31, 2023	5,992.3	$ 11,740.5	$ 1,392.6	(495.3)	(6,645.5)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(379.3)
Other comprehensive income (loss)	(1.7)
Balance at end of the period (in shares) at Jun. 30, 2024		724.1	0
Balance at end of the period at Jun. 30, 2024	5,604.6	$ 13,157.7	$ 0	(497)	(7,056.1)
Balance at beginning of the period (in shares) at Mar. 31, 2024		668.2	14.4
Balance at beginning of the period at Mar. 31, 2024	5,888.4	$ 11,747.4	$ 1,392.6	(512.3)	(6,739.3)
Increase (Decrease) in Shareholders' Equity
Vesting of restricted stock units (in shares)		0.7
Share-based award activity (in shares)		(0.1)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	17.7	$ 17.7
Dividends, Preferred Stock	(12.5)				(12.5)
Net income (loss)	(304.3)				(304.3)
Other comprehensive income (loss)	15.3			15.3
Balance at end of the period (in shares) at Jun. 30, 2024		724.1	0
Balance at end of the period at Jun. 30, 2024	$ 5,604.6	$ 13,157.7	$ 0	$ (497)	$ (7,056.1)
Increase (Decrease) in Shareholders' Equity
Stock Issued During Period, Value, Conversion of Convertible Securities		$ 1,392.6	$ (1,392.6)
Stock Issued During Period, Shares, Conversion of Convertible Securities		55.3	(14.4)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows From Operating Activities
Net income (loss)	$ (379.3)	$ (79.6)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	363.8	350.7
Share-based compensation	33.9	71.6
Restructuring and other impairments, including goodwill	301.3	138.7
Gain on legal settlement	0	(49.4)
Deferred income taxes	(24.6)	(47.8)
Amortization of debt issuance costs	7.9	9.1
Other operating activities	14.3	17
Changes in operating assets and liabilities:
Accounts receivable	103.2	121.7
Prepaid expenses	1.1	(11.9)
Other assets	(5.4)	38.6
Accounts payable	(12.2)	6.2
Accrued expenses and other current liabilities	(38.3)	(74.2)
Deferred revenues	(59.7)	(18.4)
Operating leases, net	(4.8)	(4.5)
Other liabilities	1.2	(77.9)
Net cash provided by operating activities	302.4	389.9
Cash Flows From Investing Activities
Capital expenditures	(130.3)	(116.9)
Payments for acquisitions, net of cash acquired	(17.1)	(1.1)
Proceeds from divestitures, net of cash divested	(19.2)	10.5
Net cash provided by (used for) investing activities	(166.6)	(107.5)
Cash Flows From Financing Activities
Principal payments on term loans	(52.7)	(150)
Payment of debt issuance costs and discounts	(20.1)	(0.1)
Cash dividends on preferred shares	(37.7)	(37.7)
Payments related to finance lease	(0.4)	(0.5)
Payments related to tax withholding for share-based compensation	(9.9)	(9.7)
Net cash provided by (used for) financing activities	(120.8)	(197.8)
Effects of exchange rates	(9.3)	1.7
Net change in cash and cash equivalents, including restricted cash	5.7	86.3
Cash and cash equivalents, including restricted cash, beginning of period	370.7	356.8
Cash and cash equivalents, including restricted cash, end of period	$ 376.4	$ 443.1

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies Clarivate Plc (“Clarivate,” “us,” “we,” “our,” or the “Company”) is a public limited company incorporated under the laws of Jersey, Channel Islands. We are a provider of proprietary and comprehensive information, analytics, professional services, and workflow software that enable users across government and academic institutions, life science and healthcare companies, corporations, and law firms to power the entire innovation lifecycle, from cultivating curiosity to protecting the world’s critical intellectual property assets. We have three reportable segments: Academia & Government (“A&G”), Intellectual Property (“IP”), and Life Sciences & Healthcare (“LS&H”). Our segment structure is organized based on the products we offer and the markets they serve. For additional information on our reportable segments, see Note 13 - Segment Information . Basis of Presentation The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include our accounts and the accounts of our wholly owned subsidiaries. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. All significant intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Significant Accounting Policies Our significant accounting policies are those that we believe are important to the portrayal of our financial condition and results of operations, as well as those that involve significant judgments or estimates about matters that are inherently uncertain. There have been no material changes to the significant accounting policies discussed in Note 1 - Nature of Operations and Summary of Significant Accounting Policies included in Part II, Item 8 of our annual report on Form 10-K for the year ended December 31, 2023. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. Early adoption is permitted. We are currently assessing the impact of this update on our related disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , which is designed to provide greater income tax disclosure transparency by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments in this update are effective for fiscal years beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. We are currently assessing the impact of this update on our related disclosures.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures During the second quarter of 2023, we entered into a commercial agreement to sell a small product group within our IP segment for approximately $34, payable in annual installments over ten years. The fair value of this contingent consideration receivable is $28.2 as of June 30, 2024, of which almost all is classified as Other non-current assets in the Condensed Consolidated Balance Sheets. We will remeasure the fair value of contingent consideration on a recurring basis and record adjustments, as needed, based on the length of time remaining under the commercial agreement and changes in the amount to be realized each year based on actual financial results. Changes in fair value measurement of the contingent consideration is based on Level 3 inputs. The divestiture met the held-for-sale criteria but did not qualify as a discontinued operation as of June 30, 2023 through the date of sale. The transaction closed on April 1, 2024 and a loss of $14.8 was recognized in connection with the sale, which is included in Other operating expense (income), net in the Condensed Consolidated Statements of Operations. Prior to the held-for-sale determination and accompanying impairment testing as of June 30, 2023, the carrying amount of the expected assets to be disposed of consisted almost entirely of purchase-related identifiable customer relationship intangible assets of approximately $158. These intangible assets were reduced to estimated fair value of $26.1 based on the estimated present value of the consideration to be paid over ten years. The related impairment charge of $132.2 is included in Goodwill and intangible asset impairments in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue We derive revenue through subscriptions to our product offerings, re-occurring contracts in our IP segment, and transactional sales that are typically quoted on a product, data set, or project basis. • Subscription-based revenues are recurring revenues that we typically earn under annual contracts, pursuant to which we license the right to use our products to our customers or provide maintenance services over a contractual term. We invoice and collect the subscription fee at the beginning of the subscription period. For multi-year agreements, we generally invoice customers annually at the beginning of each annual coverage period. Cash received or receivable in advance of completing the performance obligations is included in deferred revenue. We recognize subscription revenue ratably over the contract term as the access or service is provided. • Re-occurring revenues are derived solely from the patent and trademark maintenance services provided by our IP segment. Patents and trademarks are renewed regularly, and our services help customers maintain and protect those patents and trademarks in multiple jurisdictions around the world. Because of the re-occurring nature of the patent and trademark lifecycle, our customer base engages us to manage the renewal process on their behalf. These contracts typically include evergreen clauses or are multi-year agreements. We invoice and recognize revenue upon delivery of the service. • Transactional and other revenues are earned for specific deliverables that are typically quoted on a product, data set, or project basis. Transactional and other revenues include content sales (including single-document and aggregated collection sales), consulting engagements, and other professional services such as software implementation services. We typically invoice and record revenue for this revenue stream upon delivery of the product, data set, or project, although for longer software implementation projects, we will periodically invoice and recognize revenue in connection with the completion of related performance obligations. The following table presents our revenues disaggregated by transaction type (see Note 13 - Segment Information for our revenues disaggregated by segment): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Subscription revenues $ 405.6 $ 406.0 $ 808.7 $ 799.2 Re-occurring revenues 108.6 111.0 211.1 218.7 Transactional and other revenues 136.1 151.8 251.7 280.0 Revenues $ 650.3 $ 668.8 $ 1,271.5 $ 1,297.9 The following table presents our contract balances: June 30, 2024 December 31, 2023 Accounts receivable, net 796.3 908.3 Current portion of deferred revenues 912.4 983.1 Non-current portion of deferred revenues 23.9 38.7 During the six months ended June 30, 2024, we recognized revenues of $600.2 attributable to deferred revenues recorded at the beginning of the period, primarily consisting of subscription revenues recognized ratably over the contract term. Our remaining performance obligations are included in the current or non-current portion of deferred revenues on the Condensed Consolidated Balance Sheets. The majority of these obligations relate to customer contracts where we license the right to use our products or provide maintenance services over a contractual term, generally one year or less.

Other Intangible Assets, Net an

Other Intangible Assets, Net and Goodwill	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets, Net and Goodwill	Other Intangible Assets, Net and Goodwill Other intangible assets, net The following table is a summary of the gross carrying amounts and accumulated amortization of our identifiable intangible assets by major class: June 30, 2024 December 31, 2023 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 7,806.1 $ (1,348.3) $ 6,457.8 $ 7,819.9 $ (1,177.2) $ 6,642.7 Technology and content 2,827.1 (1,127.9) 1,699.2 2,798.3 (1,009.1) 1,789.2 Computer software 991.2 (566.7) 424.5 897.9 (516.4) 381.5 Trade names and other 88.7 (55.8) 32.9 88.9 (52.6) 36.3 Definite-lived intangible assets $ 11,713.1 $ (3,098.7) $ 8,614.4 $ 11,605.0 $ (2,755.3) $ 8,849.7 Indefinite-lived trade names 156.9 — 156.9 156.9 — 156.9 Other intangible assets, net $ 11,870.0 $ (3,098.7) $ 8,771.3 $ 11,761.9 $ (2,755.3) $ 9,006.6 During the three months ended June 30, 2024, and 2023, intangible assets amortization expense was $179.9 and $172.7, respectively, and during the six months ended June 30, 2024, and 2023, intangible assets amortization expense was $354.4 and $339.4, respectively. Goodwill The following table is a summary of the change in the carrying amount of goodwill, both in total and as allocated to our reportable segments: A&G IP LS&H Total Balance as of December 31, 2023 $ 1,109.8 $ — $ 913.9 $ 2,023.7 Acquisition — — 15.8 15.8 Goodwill impairment — — (302.8) (302.8) Impact of foreign currency fluctuations (0.2) — — (0.2) Balance as of June 30, 2024 $ 1,109.6 $ — $ 626.9 $ 1,736.5 In the second quarter of 2024, primarily due to sustained declines in our share price, we determined that it was appropriate to perform an interim quantitative goodwill impairment assessment. We performed the assessment, consistent with our goodwill impairment testing policy and procedures, by comparing the estimated fair value to the carrying value for both of our segment reporting units carrying a goodwill balance. Based on the quantitative assessment performed, we concluded that the estimated fair value of the A&G reporting unit continues to be substantially in excess of its carrying value. For the LS&H reporting unit, we determined the carrying value exceeded its fair value; consequently, we recorded a goodwill impairment charge of $302.8 for the three and six months ended June 30, 2024.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments We are exposed to various market risks, including foreign currency exchange rate risk and interest rate risk. We use derivative instruments to manage these risk exposures. We enter into foreign currency contracts and cross-currency swaps to help manage our exposure to foreign currency exchange rate risk, and we use interest rate swaps to mitigate interest rate risk. We assess the fair value of these instruments by considering current and anticipated movements in future interest rates and the relevant currency spot and future rates available in the market. Accordingly, these instruments are classified within Level 2 of the fair value hierarchy. Interest Rate Swaps We have interest rate swap arrangements with counterparties to reduce our exposure to variability in cash flows relating to interest payments on our outstanding term loan arrangements. We have designated the interest rate swaps as cash flow hedges of the risk associated with floating interest rates on designated future monthly interest payments. For additional information on our outstanding term loan facility, see Note 6 - Debt . As of June 30, 2024, our outstanding interest rate swaps have an aggregate notional value of $756.6 and mature in October 2026. The fair value of the interest rate swaps is the estimated amount that we would receive or pay to terminate such agreements, taking into account market interest rates and the remaining time to maturities or using market inputs with mid-market pricing as a practical expedient for bid-ask spread. Changes in fair value are recorded in Accumulated other comprehensive loss (“AOCL”) in the Condensed Consolidated Balance Sheets with a related offset in derivative asset or liability, and the amounts reclassified out of AOCL are recorded to Interest expense, net in the Condensed Consolidated Statements of Operations. Any gain or loss will be subsequently reclassified into net earnings in the same period during which transactions affect earnings, or upon termination of the arrangements. For additional information on changes recorded to AOCL, see Note 7 - Shareholders' Equity . As of June 30, 2024, we estimate that approximately $14.8 of pre-tax gain related to interest rate swaps recorded in AOCL will be reclassified into earnings within the next 12 months. Cross-Currency Swaps In July 2023, we entered into a cross-currency swap that matures in 2026 to mitigate foreign currency exposure related to our net investment in various euro-functional-currency consolidated subsidiaries. This swap is designated and qualifies as a net investment hedge. We elected to assess the effectiveness of this net investment hedge based on changes in spot rates and are amortizing the portion of the net investment hedge that was excluded from the assessment of effectiveness over the life of the swap within Interest expense, net in the Condensed Consolidated Statements of Operations. The notional amount of the cross-currency swap associated with euro-denominated subsidiary net investments was €100.0 as of June 30, 2024. Changes in fair value are recorded in AOCL (as a foreign currency translation adjustment) in the Condensed Consolidated Balance Sheets, with a related offset in derivative asset or liability. Any gain or loss will be subsequently reclassified into net earnings when the hedged net investment is either sold or substantially liquidated. For additional information on changes recorded to AOCL, see Note 7 - Shareholders' Equity . Foreign Currency Forward Contracts We periodically enter into foreign currency contracts, which generally do not exceed 180 days in duration, to help manage our exposure to foreign exchange rate risks. We have not designated these contracts as accounting hedges. We initially recognize these contracts at fair value on the execution date and subsequently remeasure the contracts to their fair value at the end of each reporting period. We assess the fair value of these instruments by considering current and anticipated movements in future interest rates and the relevant currency spot and future rates available in the market. We receive third-party valuation reports to corroborate our determination of fair value. We recognize the associated realized and unrealized gains and losses in Other operating expense (income), net in the Condensed Consolidated Statements of Operations. We recognized a loss (gain) from the fair value adjustment of $0.6 and $2.9, for the three months ended June 30, 2024 and 2023, respectively, and $2.3 and $(0.3), for the six months ended June 30, 2024 and 2023, respectively. The notional amount of outstanding foreign currency contracts was $145.5 and $140.5 as of June 30, 2024 and December 31, 2023, respectively. The following table provides information on the location and fair value amounts of our derivative instruments as of June 30, 2024 and December 31, 2023: Balance Sheet Classification June 30, 2024 December 31, 2023 Asset Derivatives Designated as accounting hedges: Interest rate swaps Other current assets $ — $ 4.1 Interest rate swaps Other non-current assets 24.8 17.7 Cross-currency swaps Other non-current assets 1.2 — Not designated as accounting hedges: Foreign currency forwards Other current assets 0.1 1.3 Total Asset Derivatives $ 26.1 $ 23.1 Liability Derivatives Designated as accounting hedges: Cross-currency swaps Other non-current liabilities $ — $ 2.0 Not designated as accounting hedges: Foreign currency forwards Accrued expenses and other current liabilities 1.2 0.1 Total Liability Derivatives $ 1.2 $ 2.1

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our total indebtedness: June 30, 2024 December 31, 2023 Type Maturity Effective Carrying Effective Carrying Senior Notes 2029 4.875% 921.4 4.875% 921.4 Senior Secured Notes 2028 3.875% 921.2 3.875% 921.2 Senior Secured Notes 2026 4.500% 700.0 4.500% 700.0 Revolving Credit Facility 2029 8.094% — 8.206% — Term Loan Facility 2031 8.094% 2,144.6 8.470% 2,197.4 Finance lease 2036 6.936% 30.0 6.936% 30.3 Total debt outstanding $ 4,717.2 $ 4,770.3 Debt discounts and issuance costs (59.1) (48.0) Current portion of long-term debt (1) (22.8) (1.2) Long-term debt $ 4,635.3 $ 4,721.1 (1) Included in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets. Senior Notes (2029) and Senior Secured Notes (2028) Interest on the Senior Notes due 2029 and the Senior Secured Notes due 2028 is payable semi-annually to holders of record on June 30 and December 30 of each year. The Senior Secured Notes due 2028 are secured on a first-lien pari passu basis with borrowings under our credit facilities and Senior Secured Notes due 2026. Both of these series of Notes are guaranteed on a joint and several basis by each of our indirect subsidiaries that is an obligor or guarantor under our credit facilities and Senior Secured Notes due 2026. Senior Secured Notes (2026) Interest on the Senior Secured Notes due 2026 is payable semi-annually to holders of record on May 1 and November 1 of each year. The Senior Secured Notes due 2026 are secured on a first-lien pari passu basis with borrowings under our credit facilities and Senior Secured Notes due 2028. These Notes are guaranteed on a joint and several basis by each of our indirect subsidiaries that is an obligor or guarantor under our credit facilities and are secured on a first-priority basis by the collateral now owned or hereafter acquired by Camelot Finance S.A. (the issuer) and each of the guarantors that secures the issuer’s and such guarantor’s obligations under our credit facilities (subject to permitted liens and other exceptions). The Credit Facilities As further discussed below, in January 2024, we refinanced our existing credit facilities to provide improved financial flexibility, including extending our debt maturities and lowering our annual cash interest costs. Revolving Credit Facility Our revolving credit facility provides for revolving loans, same-day borrowings, and letters of credit. Proceeds of loans made under the revolving credit facility may be borrowed, repaid, and reborrowed prior to maturity. As part of the January 2024 refinancing, we amended our $750.0 revolving credit facility by reducing it to a $700.0 facility (with a letter of credit sublimit of $77.0) and extending the maturity date to January 31, 2029, subject to a “springing” maturity date that is 91 days prior to the maturity date of the Senior Secured Notes due 2026 and the Senior Secured Notes due 2028, but only to the extent that those notes have not been refinanced or extended prior to their original maturity dates. All other terms related to the revolving credit facility were substantively unchanged. As of June 30, 2024, letters of credit totaling $7.6 were collateralized by the revolving credit facility. Term Loan Facility As part of the January 2024 refinancing, we made a prepayment of $47.4 on the existing term loans due in 2026 and then refinanced the remaining term loans with a new $2,150.0 tranche of term loans maturing in 2031. The interest rate margin for the new term loan facility decreased from 300 to 275 basis points per annum in the case of loans bearing interest by reference to term SOFR. The term loans amortize in equal quarterly installments (the first installment was paid on June 28, 2024) equivalent to a rate of 1.00% per annum, with the balance due at maturity. The carrying value of our variable interest rate debt, excluding unamortized debt issuance costs, approximates fair value due to the short-term nature of the interest rate benchmark rates. The fair value of the fixed rate debt is estimated based on market observable data for debt with similar prepayment features. The fair value of our debt was $4,548.6 and $4,615.3 at June 30, 2024 and December 31, 2023, respectively, and is considered Level 2 under the fair value hierarchy.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Conversion of Preferred Shares into Ordinary Shares On June 3, 2024, all 14.4 million outstanding shares of our 5.25% Series A Mandatory Convertible Preferred Shares (“MCPS”) automatically converted into 55.3 million ordinary shares at a conversion rate of 3.8462 ordinary shares per MCPS share. All accumulated preferred dividends were paid prior to the conversion. Accumulated Other Comprehensive Loss (“AOCL”) The tables below provide information about the changes in AOCL by component and the related amounts reclassified to net earnings during the periods indicated (net of tax). The foreign currency translation adjustment component of AOCL represents the impact of translating foreign subsidiary asset and liability balances from their local currency to USD. The change in both periods below was primarily related to foreign subsidiaries whose local currency is GBP. Six Months Ended June 30, 2024 Interest rate swaps Defined benefit pension plans Foreign currency translation adjustment Total Balance as of December 31, 2023 $ 16.2 $ 0.4 $ (511.9) $ (495.3) Other comprehensive income (loss) before reclassifications 15.7 — (3.3) 12.4 Reclassifications from AOCL to net earnings (13.5) — (0.6) (14.1) Net other comprehensive (loss) income 2.2 — (3.9) (1.7) Balance as of June 30, 2024 $ 18.4 $ 0.4 $ (515.8) $ (497.0) Six Months Ended June 30, 2023 Interest rate swaps Defined benefit pension plans Foreign currency translation adjustment Total Balance as of December 31, 2022 $ 38.1 $ 1.5 $ (705.5) $ (665.9) Other comprehensive income (loss) before reclassifications 12.8 — 183.4 196.2 Reclassifications from AOCL to net earnings (17.9) — — (17.9) Net other comprehensive income (loss) (5.1) — 183.4 178.3 Balance as of June 30, 2023 $ 33.0 $ 1.5 $ (522.1) $ (487.6)

Private Placement Warrants

Private Placement Warrants	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Private Placement Warrants	Private Placement Warrants In May 2024, the remaining 17.8 million private placement warrants expired unexercised. These warrants had an exercise price of $11.50 per share and were valued using a Black-Scholes option valuation model and classified as Level 3 financial instruments within the fair value hierarchy. The warrants were subject to remeasurement at each balance sheet date and represented a liability balance of zero and $5.1 as of June 30, 2024 and December 31, 2023, respectively, classified within Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets. The change in fair value was recognized as a fair value adjustment of warrants in the Condensed Consolidated Statements of Operations.

Restructuring and Other Impairm

Restructuring and Other Impairments	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Impairments	Restructuring and Other Impairments We have engaged in various restructuring programs to strengthen our business and streamline our operations, including taking actions related to the location and use of leased facilities. Our recent restructuring programs include the following: • Segment Optimization Program - During the second quarter of 2023, we approved a restructuring plan to streamline operations within targeted areas of the Company to reduce operational costs, with the primary cost savings driver being from a reduction in workforce. • ProQuest Acquisition Integration Program - During the fourth quarter of 2021, we approved a restructuring plan to streamline operations within targeted areas of the Company to reduce operational costs, with the primary cost savings driver being from a reduction in workforce. As of June 30, 2024, we have incurred $27.4 of cumulative costs associated with the Segment Optimization Program and we expect to incur approximately $8 of additional restructuring costs associated with this program, primarily within 2024. The following table summarizes the pre-tax charges by activity and program during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Severance and related benefit costs: ProQuest Acquisition Integration Program $ — $ 7.6 $ (0.1) $ 16.9 Segment Optimization Program 2.6 2.3 12.1 2.3 Total Severance and related benefit costs $ 2.6 $ 9.9 $ 12.0 $ 19.2 Exit and disposal costs: ProQuest Acquisition Integration Program $ — $ — $ — $ 0.1 Segment Optimization Program 0.1 — 0.2 — Total Exit and disposal costs $ 0.1 $ — $ 0.2 $ 0.1 Lease abandonment costs: Segment Optimization Program $ (2.0) $ 2.3 $ (2.0) $ 2.3 Total Lease abandonment costs $ (2.0) $ 2.3 $ (2.0) $ 2.3 Restructuring and other impairments $ 0.7 $ 12.2 $ 10.2 $ 21.6 The following table summarizes the pre-tax charges by program and segment during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government: ProQuest Acquisition Integration Program $ — $ 4.2 $ (0.1) $ 9.3 Segment Optimization Program (0.2) 1.6 3.8 1.6 Total A&G $ (0.2) $ 5.8 $ 3.7 $ 10.9 Intellectual Property: ProQuest Acquisition Integration Program $ — $ 1.9 $ — $ 4.6 Segment Optimization Program 0.4 1.4 3.0 1.4 Total IP $ 0.4 $ 3.3 $ 3.0 $ 6.0 Life Sciences & Healthcare: ProQuest Acquisition Integration Program $ — $ 1.5 $ — $ 3.1 Segment Optimization Program 0.5 1.6 3.5 1.6 Total LS&H $ 0.5 $ 3.1 $ 3.5 $ 4.7 Restructuring and other impairments $ 0.7 $ 12.2 $ 10.2 $ 21.6 The following table summarizes the changes in our restructuring reserves by activity during the periods indicated: Severance and related benefit costs Exit, disposal, and abandonment costs Total Reserve Balance as of December 31, 2023 $ 5.9 $ 1.4 $ 7.3 Expenses recorded 12.0 (1.8) 10.2 Payments made (15.5) (2.8) (18.3) Noncash items (0.7) 3.3 2.6 Reserve Balance as of June 30, 2024 $ 1.7 $ 0.1 $ 1.8 Reserve Balance as of December 31, 2022 $ 11.5 $ 0.1 $ 11.6 Expenses recorded 19.2 2.4 21.6 Payments made (23.4) (1.5) (24.9) Noncash items (2.7) (0.8) (3.5) Reserve Balance as of June 30, 2023 $ 4.6 $ 0.2 $ 4.8

Other Operating Expense (Income

Other Operating Expense (Income), Net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other Operating Expense (Income), Net	Other Operating Expense (Income), Net Other operating expense (income), net, consisted of the following for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Loss (gain) on divestiture (1) $ (1.0) $ — $ 14.8 $ — Gain on legal settlement (2) — — — (49.4) Net foreign exchange loss (gain) 4.4 11.7 4.6 32.3 Miscellaneous expense (income), net 0.2 2.8 1.8 (0.4) Other operating expense (income), net $ 3.6 $ 14.5 $ 21.2 $ (17.5) (1) Refer to Note 2 - Acquisitions and Divestitures for further information. (2) Refer to Note 14 - Commitments and Contingencies for further information.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We compute our provision (benefit) for income taxes by applying the estimated annual effective tax rate to year-to-date pre-tax income (loss) and adjust the provision for discrete tax items recorded in the period. The income tax benefit of $6.8 for the three months ended June 30, 2024 was primarily due to the mix of taxing jurisdictions in which pre-tax profits and losses were recognized and a $14.2 tax benefit related to the goodwill impairment. The income tax benefit of $35.3 for the three months ended June 30, 2023 was primarily due to the mix of taxing jurisdictions in which pre-tax profits and losses were recognized, a $33.0 tax benefit associated with the impairment of intangible assets, and a $17.1 tax benefit related to the partial release of valuation allowance recorded against certain US tax attributes. The income tax provision of $8.2 for the six months ended June 30, 2024 was primarily due to the mix of taxing jurisdictions in which pre-tax profits and losses were recognized partially offset by a $14.2 tax benefit related to the goodwill impairment. The income tax benefit of $98.9 for the six months ended June 30, 2023 was primarily due to the mix of taxing jurisdictions in which pre-tax profits and losses were recognized, a $70.4 tax benefit recorded on the settlement of an open tax dispute, a $33.0 tax benefit associated with the impairment of intangible assets, and a $17.1 tax benefit relating to the partial release of valuation allowance recorded against certain US tax attributes.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is calculated by dividing net income (loss) attributable to ordinary shares by the weighted average number of ordinary shares outstanding for the applicable period. Diluted EPS is computed by dividing net income (loss) attributable to ordinary shares, adjusted for the change in fair value of the private placement warrants, by the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding for the applicable period. Diluted EPS reflects the potential dilution that could occur if securities were exercised or converted into ordinary shares, as calculated using the treasury stock method. The basic and diluted EPS computations for our ordinary shares are calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic EPS Net income (loss) $ (304.3) $ (123.1) $ (379.3) $ (79.6) Dividends on preferred shares 12.5 18.6 31.3 37.4 Net income (loss) attributable to ordinary shares $ (316.8) $ (141.7) $ (410.6) $ (117.0) Weighted average shares, basic 685.6 675.9 676.2 675.4 Basic EPS $ (0.46) $ (0.21) $ (0.61) $ (0.17) Diluted EPS Net income (loss) attributable to ordinary shares $ (316.8) $ (141.7) $ (410.6) $ (117.0) Change in fair value of private placement warrants — — — — Net income (loss) attributable to ordinary shares, diluted $ (316.8) $ (141.7) $ (410.6) $ (117.0) Weighted average shares, basic 685.6 675.9 676.2 675.4 Weighted average effect of potentially dilutive shares — — — — Weighted average shares, diluted 685.6 675.9 676.2 675.4 Diluted EPS $ (0.46) $ (0.21) $ (0.61) $ (0.17) Potential ordinary shares on a gross basis of 22.5 million and 30.0 million related to share-based awards and private placement warrants were excluded from diluted EPS for the three months ended June 30, 2024 and 2023, respectively, as their inclusion would have been antidilutive. Potential ordinary shares on a gross basis of 26.2 million and 30.7 million related to share-based awards and private placement warrants were excluded from diluted EPS for the six months ended June 30, 2024 and 2023, respectively, as their inclusion would have been antidilutive. As a result of the MCPS conversion described in Note 7 - Shareholders' Equity , for the three and six months ended June 30, 2024, the converted MCPS shares were included in basic EPS for the period subsequent to the conversion and were evaluated for inclusion in diluted EPS for the period prior to the conversion using the if-converted method. Because the pre-conversion weighted-average ordinary shares related to our MCPS would have been antidilutive for each period presented, they were excluded from the diluted EPS calculation for the pre-conversion portion within the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Operating segments are components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. As discussed in Note 1 - Nature of Operations and Summary of Significant Accounting Policies , we have three reportable operating segments: Academia & Government (“A&G”), Intellectual Property (“IP”), and Life Sciences & Healthcare (“LS&H”). An overview of our segment structure, organized based on the products we offer and the markets they serve, is as follows: • A&G : Trusted content, intelligence, and workflow solutions that help academic and government institutions advance knowledge to transform our world. Within the A&G segment, we provide Research and Analytics, Content Solutions, Books and Marketplaces, and Library Software Solutions. • IP : Our comprehensive intellectual property data, software, and expertise helps companies drive innovation, law firms achieve practice excellence, and organizations worldwide effectively manage and protect critical IP assets. Within the IP segment, we provide IP Management Software, IP Services, Patent Intelligence, and Brand IP Intelligence. • LS&H : Empowers customers to advance innovation and accelerate patient outcomes that improve patient lives and create a healthier tomorrow. Our intelligence solutions, transformative data, and technology equip our customers with the insight and foresight needed across the entire healthcare ecosystem. Within the LS&H segment, we provide solutions for Research and Development, Real World Data, MedTech, Market Access, and Commercialization. Our Chief Executive Officer is identified as the CODM, who evaluates performance based primarily on segment revenues and Adjusted EBITDA. The CODM does not review assets by segment for the purpose of assessing performance or allocating resources. Adjusted EBITDA represents Net income (loss) before the Provision (benefit) for income taxes, Depreciation and amortization, and Interest expense, net, adjusted to exclude acquisition and/or disposal-related transaction costs, share-based compensation, unrealized foreign currency gains/losses, restructuring expenses, non-operating income and/or expense, the impact of certain non-cash fair value adjustments on financial instruments, legal settlements, impairments, and other items that are included in Net income (loss) for the period that we do not consider indicative of our ongoing operating performance. The following table summarizes revenues by reportable segment for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government $ 344.5 $ 342.0 $ 662.2 $ 656.7 Intellectual Property 201.6 216.3 402.5 425.4 Life Sciences & Healthcare 104.2 110.5 206.8 215.8 Total Revenues $ 650.3 $ 668.8 $ 1,271.5 $ 1,297.9 The following table presents segment profitability and a reconciliation to Net income (loss) for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government $ 152.1 $ 146.8 $ 275.6 $ 272.2 Intellectual Property 89.1 100.1 172.2 194.7 Life Sciences & Healthcare 33.2 38.0 62.9 70.7 Total Adjusted EBITDA $ 274.4 $ 284.9 $ 510.7 $ 537.6 Provision (benefit) for income taxes 6.8 35.3 (8.2) 98.9 Depreciation and amortization (184.4) (178.1) (363.8) (350.7) Interest expense, net (71.1) (73.0) (141.3) (146.6) Transaction related costs (3.1) (0.7) (7.5) (2.4) Share-based compensation expense (18.9) (30.5) (34.3) (71.7) Goodwill and intangible asset impairments (302.8) (135.2) (302.8) (135.2) Restructuring and other impairments (0.7) (12.2) (10.2) (21.6) Fair value adjustment of warrants — 2.9 5.2 1.8 Other (1) (4.5) (16.5) (27.1) 10.3 Net income (loss) $ (304.3) $ (123.1) $ (379.3) $ (79.6) (1) Primarily reflects the net impact of foreign exchange gains and losses related to the remeasurement of balances and other items that do not reflect our ongoing operating performance. In addition to the net unrealized foreign exchange loss, the six months ended June 30, 2024 also includes a $14.8 loss on the divestiture discussed in Note 2 - Acquisitions and Divestitures and the six months ended June 30, 2023 includes a $49.4 gain on legal settlement discussed in Note 14 - Commitments and Contingencies .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lawsuits and Legal Claims We are engaged in various legal proceedings, claims, audits, and investigations that have arisen in the ordinary course of business. These matters may include among others, antitrust/competition claims, intellectual property infringement claims, employment matters, and commercial matters. The outcomes of the matters against us are subject to future resolution, including the uncertainties of litigation. From time to time, we are involved in litigation in the ordinary course of our business, including claims or contingencies that may arise related to matters occurring prior to our acquisition of businesses. At the present time, primarily because the matters are generally in early stages, we can give no assurance as to the outcome of any pending litigation to which we are currently a party, and we are unable to determine the ultimate resolution of these matters or the effect they may have on us. We have and will continue to vigorously defend ourselves against these claims. We maintain appropriate levels of insurance, which we expect are likely to provide coverage for some of these liabilities or other losses that may arise from these litigation matters. During the six months ended June 30, 2023 , we reached settlement related to a large legal claim, which was covered by insurance. We recognized a total gain on settle ment of $49.4 which is included in Other operating expense (income), net in the Condensed Consolidated Statement of Operations. Between January and March 2022, three putative securities class action complaints were filed in the United States District Court for the Eastern District of New York against Clarivate and certain of its executives and directors alleging that there were weaknesses in the Company’s internal controls over financial reporting and financial reporting procedures that it failed to disclose in violation of federal securities law. The complaints were consolidated into a single proceeding on May 18, 2022. On August 8, 2022, plaintiffs filed a consolidated amended complaint, seeking damages on behalf of a putative class of shareholders who acquired Clarivate securities between July 30, 2020, and February 2, 2022, and/or acquired Clarivate ordinary or preferred shares in connection with offerings on June 10, 2021, or Clarivate ordinary shares in connection with a September 13, 2021, offering. The amended complaint, like the prior complaints, references an error in the accounting treatment of an equity plan included in the Company’s 2020 business combination with CPA Global that was disclosed on December 27, 2021, and related restatements issued on February 3, 2022, of certain of the Company’s previously issued financial statements. The amended complaint also alleges that the Company and certain of its executives and directors made false or misleading statements relating to the Company’s product quality and expected organic revenues and organic growth rate, and that they failed to disclose significant known changes to the Company’s business model. Defendants moved to dismiss the amended complaint on October 7, 2022. Without deciding the motion, the court entered an order on June 23, 2023, allowing plaintiffs limited leave to amend, and plaintiffs filed an amended complaint on July 14, 2023. On August 10, 2023, the court issued an order deeming defendants’ prior motions and briefs to be directed at the amended complaint and permitting defendants to file supplemental briefs to address the new allegations in the amended complaint. Supplemental briefing on the motions was completed on September 8, 2023. Defendants’ motions to dismiss the amended complaint are currently pending. In a separate but related litigation, on June 7, 2022, a class action was filed in Pennsylvania state court in the Court of Common Pleas of Philadelphia asserting claims under the Securities Act of 1933, based on substantially similar allegations, with respect to alleged misstatements and omissions in the offering documents for two issuances of Clarivate ordinary shares in June and September 2021. The Company moved to stay this proceeding on August 19, 2022, and filed its preliminary objections to the state court complaint on October 21, 2022. After granting a partial stay on January 4, 2023, the court denied a further stay of the proceedings on April 17, 2023. On April 24, 2024, the court sustained the Company’s preliminary objections, but permitted plaintiff leave to file an amended complaint, which plaintiff filed on May 28, 2024. The court also permitted plaintiff to take jurisdictional discovery over the former individual defendants and to move on the basis of such discovery to amend the complaint to add such individuals as defendants; plaintiff’s deadline to move to amend on such basis is September 23, 2024. On July 12, 2024, the Company filed its preliminary objections to the amended complaint. Clarivate does not believe that the claims alleged in the complaints have merit and will vigorously defend against them. Given the early stage of the proceedings, we are unable to estimate the reasonably possible loss or range of loss, if any, arising from these matters.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (304.3)	$ (75)	$ (123.1)	$ 43.5	$ (379.3)	$ (79.6)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Bar Veinstein [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 14, 2024, Bar Veinstein, President, Academia & Government, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The trading plan provides for the sale of an aggregate of up to 180,000 ordinary shares of the Company held by Mr. Veinstein. The trading plan terminates on the earlier of the date all the shares covered by the trading plan are sold and December 13, 2024.
Name	Bar Veinstein
Title	President, Academia & Government
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 14, 2024
Expiration Date	December 13, 2024
Arrangement Duration	213 days
Aggregate Available	180,000	180,000

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include our accounts and the accounts of our wholly owned subsidiaries. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. All significant intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications of prior period amounts have been made to conform to the current period presentation.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. Early adoption is permitted. We are currently assessing the impact of this update on our related disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , which is designed to provide greater income tax disclosure transparency by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments in this update are effective for fiscal years beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. We are currently assessing the impact of this update on our related disclosures.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of disaggregated revenues	The following table presents our revenues disaggregated by transaction type (see Note 13 - Segment Information for our revenues disaggregated by segment): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Subscription revenues $ 405.6 $ 406.0 $ 808.7 $ 799.2 Re-occurring revenues 108.6 111.0 211.1 218.7 Transactional and other revenues 136.1 151.8 251.7 280.0 Revenues $ 650.3 $ 668.8 $ 1,271.5 $ 1,297.9 The following table summarizes revenues by reportable segment for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government $ 344.5 $ 342.0 $ 662.2 $ 656.7 Intellectual Property 201.6 216.3 402.5 425.4 Life Sciences & Healthcare 104.2 110.5 206.8 215.8 Total Revenues $ 650.3 $ 668.8 $ 1,271.5 $ 1,297.9
Schedule of contract balances	The following table presents our contract balances: June 30, 2024 December 31, 2023 Accounts receivable, net 796.3 908.3 Current portion of deferred revenues 912.4 983.1 Non-current portion of deferred revenues 23.9 38.7

Other Intangible Assets, Net _2

Other Intangible Assets, Net and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Identifiable Intangible Assets	The following table is a summary of the gross carrying amounts and accumulated amortization of our identifiable intangible assets by major class: June 30, 2024 December 31, 2023 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 7,806.1 $ (1,348.3) $ 6,457.8 $ 7,819.9 $ (1,177.2) $ 6,642.7 Technology and content 2,827.1 (1,127.9) 1,699.2 2,798.3 (1,009.1) 1,789.2 Computer software 991.2 (566.7) 424.5 897.9 (516.4) 381.5 Trade names and other 88.7 (55.8) 32.9 88.9 (52.6) 36.3 Definite-lived intangible assets $ 11,713.1 $ (3,098.7) $ 8,614.4 $ 11,605.0 $ (2,755.3) $ 8,849.7 Indefinite-lived trade names 156.9 — 156.9 156.9 — 156.9 Other intangible assets, net $ 11,870.0 $ (3,098.7) $ 8,771.3 $ 11,761.9 $ (2,755.3) $ 9,006.6
Schedule of Change in the Carrying Amount of Goodwill	The following table is a summary of the change in the carrying amount of goodwill, both in total and as allocated to our reportable segments: A&G IP LS&H Total Balance as of December 31, 2023 $ 1,109.8 $ — $ 913.9 $ 2,023.7 Acquisition — — 15.8 15.8 Goodwill impairment — — (302.8) (302.8) Impact of foreign currency fluctuations (0.2) — — (0.2) Balance as of June 30, 2024 $ 1,109.6 $ — $ 626.9 $ 1,736.5

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The following table provides information on the location and fair value amounts of our derivative instruments as of June 30, 2024 and December 31, 2023: Balance Sheet Classification June 30, 2024 December 31, 2023 Asset Derivatives Designated as accounting hedges: Interest rate swaps Other current assets $ — $ 4.1 Interest rate swaps Other non-current assets 24.8 17.7 Cross-currency swaps Other non-current assets 1.2 — Not designated as accounting hedges: Foreign currency forwards Other current assets 0.1 1.3 Total Asset Derivatives $ 26.1 $ 23.1 Liability Derivatives Designated as accounting hedges: Cross-currency swaps Other non-current liabilities $ — $ 2.0 Not designated as accounting hedges: Foreign currency forwards Accrued expenses and other current liabilities 1.2 0.1 Total Liability Derivatives $ 1.2 $ 2.1

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes our total indebtedness: June 30, 2024 December 31, 2023 Type Maturity Effective Carrying Effective Carrying Senior Notes 2029 4.875% 921.4 4.875% 921.4 Senior Secured Notes 2028 3.875% 921.2 3.875% 921.2 Senior Secured Notes 2026 4.500% 700.0 4.500% 700.0 Revolving Credit Facility 2029 8.094% — 8.206% — Term Loan Facility 2031 8.094% 2,144.6 8.470% 2,197.4 Finance lease 2036 6.936% 30.0 6.936% 30.3 Total debt outstanding $ 4,717.2 $ 4,770.3 Debt discounts and issuance costs (59.1) (48.0) Current portion of long-term debt (1) (22.8) (1.2) Long-term debt $ 4,635.3 $ 4,721.1 (1) Included in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The tables below provide information about the changes in AOCL by component and the related amounts reclassified to net earnings during the periods indicated (net of tax). The foreign currency translation adjustment component of AOCL represents the impact of translating foreign subsidiary asset and liability balances from their local currency to USD. The change in both periods below was primarily related to foreign subsidiaries whose local currency is GBP. Six Months Ended June 30, 2024 Interest rate swaps Defined benefit pension plans Foreign currency translation adjustment Total Balance as of December 31, 2023 $ 16.2 $ 0.4 $ (511.9) $ (495.3) Other comprehensive income (loss) before reclassifications 15.7 — (3.3) 12.4 Reclassifications from AOCL to net earnings (13.5) — (0.6) (14.1) Net other comprehensive (loss) income 2.2 — (3.9) (1.7) Balance as of June 30, 2024 $ 18.4 $ 0.4 $ (515.8) $ (497.0) Six Months Ended June 30, 2023 Interest rate swaps Defined benefit pension plans Foreign currency translation adjustment Total Balance as of December 31, 2022 $ 38.1 $ 1.5 $ (705.5) $ (665.9) Other comprehensive income (loss) before reclassifications 12.8 — 183.4 196.2 Reclassifications from AOCL to net earnings (17.9) — — (17.9) Net other comprehensive income (loss) (5.1) — 183.4 178.3 Balance as of June 30, 2023 $ 33.0 $ 1.5 $ (522.1) $ (487.6)

Restructuring and Other Impai_2

Restructuring and Other Impairments (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table summarizes the pre-tax charges by activity and program during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Severance and related benefit costs: ProQuest Acquisition Integration Program $ — $ 7.6 $ (0.1) $ 16.9 Segment Optimization Program 2.6 2.3 12.1 2.3 Total Severance and related benefit costs $ 2.6 $ 9.9 $ 12.0 $ 19.2 Exit and disposal costs: ProQuest Acquisition Integration Program $ — $ — $ — $ 0.1 Segment Optimization Program 0.1 — 0.2 — Total Exit and disposal costs $ 0.1 $ — $ 0.2 $ 0.1 Lease abandonment costs: Segment Optimization Program $ (2.0) $ 2.3 $ (2.0) $ 2.3 Total Lease abandonment costs $ (2.0) $ 2.3 $ (2.0) $ 2.3 Restructuring and other impairments $ 0.7 $ 12.2 $ 10.2 $ 21.6 The following table summarizes the pre-tax charges by program and segment during the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government: ProQuest Acquisition Integration Program $ — $ 4.2 $ (0.1) $ 9.3 Segment Optimization Program (0.2) 1.6 3.8 1.6 Total A&G $ (0.2) $ 5.8 $ 3.7 $ 10.9 Intellectual Property: ProQuest Acquisition Integration Program $ — $ 1.9 $ — $ 4.6 Segment Optimization Program 0.4 1.4 3.0 1.4 Total IP $ 0.4 $ 3.3 $ 3.0 $ 6.0 Life Sciences & Healthcare: ProQuest Acquisition Integration Program $ — $ 1.5 $ — $ 3.1 Segment Optimization Program 0.5 1.6 3.5 1.6 Total LS&H $ 0.5 $ 3.1 $ 3.5 $ 4.7 Restructuring and other impairments $ 0.7 $ 12.2 $ 10.2 $ 21.6 The following table summarizes the changes in our restructuring reserves by activity during the periods indicated: Severance and related benefit costs Exit, disposal, and abandonment costs Total Reserve Balance as of December 31, 2023 $ 5.9 $ 1.4 $ 7.3 Expenses recorded 12.0 (1.8) 10.2 Payments made (15.5) (2.8) (18.3) Noncash items (0.7) 3.3 2.6 Reserve Balance as of June 30, 2024 $ 1.7 $ 0.1 $ 1.8 Reserve Balance as of December 31, 2022 $ 11.5 $ 0.1 $ 11.6 Expenses recorded 19.2 2.4 21.6 Payments made (23.4) (1.5) (24.9) Noncash items (2.7) (0.8) (3.5) Reserve Balance as of June 30, 2023 $ 4.6 $ 0.2 $ 4.8

Other Operating Expense (Inco_2

Other Operating Expense (Income), Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense (Income), Net	Other operating expense (income), net, consisted of the following for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Loss (gain) on divestiture (1) $ (1.0) $ — $ 14.8 $ — Gain on legal settlement (2) — — — (49.4) Net foreign exchange loss (gain) 4.4 11.7 4.6 32.3 Miscellaneous expense (income), net 0.2 2.8 1.8 (0.4) Other operating expense (income), net $ 3.6 $ 14.5 $ 21.2 $ (17.5) (1) Refer to Note 2 - Acquisitions and Divestitures for further information. (2) Refer to Note 14 - Commitments and Contingencies for further information.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted EPS Computations for Ordinary Shares	The basic and diluted EPS computations for our ordinary shares are calculated as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic EPS Net income (loss) $ (304.3) $ (123.1) $ (379.3) $ (79.6) Dividends on preferred shares 12.5 18.6 31.3 37.4 Net income (loss) attributable to ordinary shares $ (316.8) $ (141.7) $ (410.6) $ (117.0) Weighted average shares, basic 685.6 675.9 676.2 675.4 Basic EPS $ (0.46) $ (0.21) $ (0.61) $ (0.17) Diluted EPS Net income (loss) attributable to ordinary shares $ (316.8) $ (141.7) $ (410.6) $ (117.0) Change in fair value of private placement warrants — — — — Net income (loss) attributable to ordinary shares, diluted $ (316.8) $ (141.7) $ (410.6) $ (117.0) Weighted average shares, basic 685.6 675.9 676.2 675.4 Weighted average effect of potentially dilutive shares — — — — Weighted average shares, diluted 685.6 675.9 676.2 675.4 Diluted EPS $ (0.46) $ (0.21) $ (0.61) $ (0.17)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenue by Reportable Segment	The following table presents our revenues disaggregated by transaction type (see Note 13 - Segment Information for our revenues disaggregated by segment): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Subscription revenues $ 405.6 $ 406.0 $ 808.7 $ 799.2 Re-occurring revenues 108.6 111.0 211.1 218.7 Transactional and other revenues 136.1 151.8 251.7 280.0 Revenues $ 650.3 $ 668.8 $ 1,271.5 $ 1,297.9 The following table summarizes revenues by reportable segment for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government $ 344.5 $ 342.0 $ 662.2 $ 656.7 Intellectual Property 201.6 216.3 402.5 425.4 Life Sciences & Healthcare 104.2 110.5 206.8 215.8 Total Revenues $ 650.3 $ 668.8 $ 1,271.5 $ 1,297.9
Schedule of Segment Reporting Information, by Segment	The following table presents segment profitability and a reconciliation to Net income (loss) for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Academia & Government $ 152.1 $ 146.8 $ 275.6 $ 272.2 Intellectual Property 89.1 100.1 172.2 194.7 Life Sciences & Healthcare 33.2 38.0 62.9 70.7 Total Adjusted EBITDA $ 274.4 $ 284.9 $ 510.7 $ 537.6 Provision (benefit) for income taxes 6.8 35.3 (8.2) 98.9 Depreciation and amortization (184.4) (178.1) (363.8) (350.7) Interest expense, net (71.1) (73.0) (141.3) (146.6) Transaction related costs (3.1) (0.7) (7.5) (2.4) Share-based compensation expense (18.9) (30.5) (34.3) (71.7) Goodwill and intangible asset impairments (302.8) (135.2) (302.8) (135.2) Restructuring and other impairments (0.7) (12.2) (10.2) (21.6) Fair value adjustment of warrants — 2.9 5.2 1.8 Other (1) (4.5) (16.5) (27.1) 10.3 Net income (loss) $ (304.3) $ (123.1) $ (379.3) $ (79.6) (1) Primarily reflects the net impact of foreign exchange gains and losses related to the remeasurement of balances and other items that do not reflect our ongoing operating performance. In addition to the net unrealized foreign exchange loss, the six months ended June 30, 2024 also includes a $14.8 loss on the divestiture discussed in Note 2 - Acquisitions and Divestitures and the six months ended June 30, 2023 includes a $49.4 gain on legal settlement discussed in Note 14 - Commitments and Contingencies .

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies - General (Details)	6 Months Ended
	Jun. 30, 2024 segment
Accounting Policies [Abstract]
Number of reportable segments	3

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 8,614.4		$ 8,614.4		$ 8,849.7
Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets	6,457.8		6,457.8		$ 6,642.7
Disposal Group, Held-for-sale, Not Discontinued Operations | Small Product Group within IP Segment
Business Acquisition [Line Items]
Consideration for divestiture		$ 34		$ 34
Divestiture consideration period payable		10 years
Disposal group, Intangible assets		$ 26.1		26.1
Impairment of definite-lived intangible assets		132.2		132.2
Disposal Group, Held-for-sale, Not Discontinued Operations | Small Product Group within IP Segment | Noncurrent assets
Business Acquisition [Line Items]
Fair value of contingent consideration receivable	28.2		28.2
Disposal Group, Held-for-sale, Not Discontinued Operations | Small Product Group within IP Segment | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets		158		158
Discontinued Operations, Disposed of by Sale | MarkMonitor
Business Acquisition [Line Items]
Loss on divestiture	$ (1)	$ 0	$ 14.8	$ 0

Revenue - Disaggregated Revenue

Revenue - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 650.3	$ 668.8	$ 1,271.5	$ 1,297.9
Subscription revenues
Disaggregation of Revenue [Line Items]
Revenues	405.6	406	808.7	799.2
Re-occurring Revenues
Disaggregation of Revenue [Line Items]
Revenues	108.6	111	211.1	218.7
Transactional and other revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 136.1	$ 151.8	$ 251.7	$ 280

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 796.3	$ 908.3
Current portion of deferred revenues	912.4	983.1
Non-current portion of deferred revenues	23.9	$ 38.7
Revenue recognized that was deferred at the beginning of the period	$ 600.2

Other Intangible Assets, Net _3

Other Intangible Assets, Net and Goodwill - Intangible Assets by Major Class (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill And Intangible Assets [Line Items]
Definite-lived intangible assets, Gross	$ 11,713.1	$ 11,605
Definite-lived intangible assets, Accumulated Amortization	(3,098.7)	(2,755.3)
Definite-lived intangible assets, Net	8,614.4	8,849.7
Total intangible assets, Gross	11,870	11,761.9
Other intangible assets, net	8,771.3	9,006.6
Trade names
Goodwill And Intangible Assets [Line Items]
Indefinite-lived intangible assets:	156.9	156.9
Customer relationships
Goodwill And Intangible Assets [Line Items]
Definite-lived intangible assets, Gross	7,806.1	7,819.9
Definite-lived intangible assets, Accumulated Amortization	(1,348.3)	(1,177.2)
Definite-lived intangible assets, Net	6,457.8	6,642.7
Technology and content
Goodwill And Intangible Assets [Line Items]
Definite-lived intangible assets, Gross	2,827.1	2,798.3
Definite-lived intangible assets, Accumulated Amortization	(1,127.9)	(1,009.1)
Definite-lived intangible assets, Net	1,699.2	1,789.2
Computer software
Goodwill And Intangible Assets [Line Items]
Definite-lived intangible assets, Gross	991.2	897.9
Definite-lived intangible assets, Accumulated Amortization	(566.7)	(516.4)
Definite-lived intangible assets, Net	424.5	381.5
Trade names and other
Goodwill And Intangible Assets [Line Items]
Definite-lived intangible assets, Gross	88.7	88.9
Definite-lived intangible assets, Accumulated Amortization	(55.8)	(52.6)
Definite-lived intangible assets, Net	$ 32.9	$ 36.3

Other Intangible Assets, Net _4

Other Intangible Assets, Net and Goodwill - Other Intangible Assets, Net Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 179.9	$ 172.7	$ 354.4	$ 339.4

Other Intangible Assets, net _5

Other Intangible Assets, net and Goodwill - Change in the Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,023.7
Acquisition	15.8
Goodwill impairment	(302.8)
Impact of foreign currency fluctuations	(0.2)
Goodwill, ending balance	1,736.5
A&G Segment
Goodwill [Roll Forward]
Goodwill, beginning balance	1,109.8
Impact of foreign currency fluctuations	(0.2)
Goodwill, ending balance	1,109.6
IP Segment
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Goodwill, ending balance	0
Life Sciences & Healthcare
Goodwill [Roll Forward]
Goodwill, beginning balance	913.9
Acquisition	15.8
Impact of foreign currency fluctuations	0
Goodwill, ending balance	626.9
Life Sciences & Healthcare | Life Sciences & Healthcare
Goodwill [Roll Forward]
Goodwill impairment	$ (302.8)

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Interest rate swap
Derivative [Line Items]
Notional value	$ 756.6		$ 756.6
Pre-tax gain expected to be reclassified within 12 months			14.8
Cross currency swap | Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional value | €					€ 100
Foreign Exchange Contract
Derivative [Line Items]
Notional value	145.5		145.5			$ 140.5
Loss (gain) from the mark to market adjustment	$ 0.6	$ 2.9	$ 2.3	$ (0.3)
Foreign Exchange Contract | Maximum
Derivative [Line Items]
Term of contract	180 days

Derivative Instruments - Fair V

Derivative Instruments - Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 26.1	$ 23.1
Liability Derivatives	1.2	2.1
Interest rate swap | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	4.1
Interest rate swap | Noncurrent assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives	24.8	17.7
Cross currency swap | Noncurrent assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives	1.2	0
Cross currency swap | Other non-current liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	2
Foreign currency forward | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives	0.1	1.3
Foreign currency forward | Accrued expenses and other current liabilities | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 1.2	$ 0.1

Debt - Summary of Indebtedness

Debt - Summary of Indebtedness (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance lease, Effective Interest Rate	6.936%	6.936%
Finance lease, Carrying Value	$ 30	$ 30.3
Total debt outstanding	4,717.2	4,770.3
Debt discounts and issuance costs	(59.1)	(48)
Current portion of long-term debt	(22.8)	(1.2)
Long-term debt	$ 4,635.3	$ 4,721.1
Senior Notes
Debt Instrument [Line Items]
Effective Interest Rate	4.875%	4.875%
Carrying Value	$ 921.4	$ 921.4
Senior Secured Notes
Debt Instrument [Line Items]
Effective Interest Rate	3.875%	3.875%
Carrying Value	$ 921.2	$ 921.2
Senior Secured Notes
Debt Instrument [Line Items]
Effective Interest Rate	4.50%	4.50%
Carrying Value	$ 700	$ 700
Revolving Credit Facility
Debt Instrument [Line Items]
Effective Interest Rate	8.094%	8.206%
Carrying Value	$ 0	$ 0
Term Loan Facility
Debt Instrument [Line Items]
Effective Interest Rate	8.094%	8.47%
Carrying Value	$ 2,144.6	$ 2,197.4

Debt - The Credit Facilities, R

Debt - The Credit Facilities, Revolving Credit Facility and Term Loan Facility (2026) (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended		12 Months Ended
	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Repayment of long-term debt		$ 52.7	$ 150
Level 2
Debt Instrument [Line Items]
Fair vale of company's debt		4,548.6		$ 4,615.3
Revolving Credit Facility
Debt Instrument [Line Items]
Collateralized amount		7.6
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		700		$ 750
Letter of credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 77
Term Loan Facility
Debt Instrument [Line Items]
Repayment of long-term debt	$ 47.4
Debt face amount	$ 2,150
Annual equivalent amortization percentage	1%
Term Loan Facility | Term SOFR
Debt Instrument [Line Items]
Interest rate spread (as a percent)		2.75%		3%

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - $ / shares		6 Months Ended
	Jun. 03, 2024	Jun. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Ordinary shares, outstanding (in shares)		724,100,000	666,100,000
Ordinary shares, issued (in shares)		724,100,000	666,100,000
Ordinary shares, par value (in dollars per share)		$ 0	$ 0
Preferred stock, dividend rate (as a percent)	5.25%	5.25%
Preferred Stock, Convertible, Terms	3.8462
Stock Issued During Period, Shares, Conversion of Convertible Securities	55,300,000
Preferred stock, outstanding (in shares)	14,400,000	0	14,400,000

Shareholders' Equity - Accumula

Shareholders' Equity - Accumulated Other Comprehensive Income (Loss) Roll forward (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of the period	$ 5,888.4	$ 5,992.3	$ 6,959.3	$ 6,812.5	$ 5,992.3	$ 6,812.5
Other comprehensive income (loss) before reclassifications					12.4	196.2
Reclassifications from AOCI/ AOCL to net earnings					(14.1)	(17.9)
Other comprehensive income (loss), net of tax	15.3	(17)	89.9	88.4	(1.7)	178.3
Balance at end of the period	5,604.6	5,888.4	6,938.3	6,959.3	5,604.6	6,938.3
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of the period	(512.3)	(495.3)	(577.5)	(665.9)	(495.3)	(665.9)
Other comprehensive income (loss), net of tax	15.3	(17)	89.9	88.4
Balance at end of the period	(497)	(512.3)	(487.6)	(577.5)	(497)	(487.6)
Interest rate swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of the period		16.2		38.1	16.2	38.1
Other comprehensive income (loss) before reclassifications					15.7	12.8
Reclassifications from AOCI/ AOCL to net earnings					(13.5)	(17.9)
Other comprehensive income (loss), net of tax					2.2	(5.1)
Balance at end of the period	18.4		33		18.4	33
Defined benefit pension plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of the period		0.4		1.5	0.4	1.5
Other comprehensive income (loss) before reclassifications					0	0
Reclassifications from AOCI/ AOCL to net earnings					0	0
Other comprehensive income (loss), net of tax					0	0
Balance at end of the period	0.4		1.5		0.4	1.5
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of the period		$ (511.9)		$ (705.5)	(511.9)	(705.5)
Other comprehensive income (loss) before reclassifications					(3.3)	183.4
Reclassifications from AOCI/ AOCL to net earnings					(0.6)	0
Other comprehensive income (loss), net of tax					(3.9)	183.4
Balance at end of the period	$ (515.8)		$ (522.1)		$ (515.8)	$ (522.1)

Private Placement Warrants - Na

Private Placement Warrants - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Jun. 30, 2024	May 31, 2024	Dec. 31, 2023
Class of Warrant or Right [Line Items]
Number of warrants expired (in shares)		17.8
Warrant exercise price (usd per share)		$ 11.50
Level 3 | Recurring
Class of Warrant or Right [Line Items]
Warrant outstanding	$ 0		$ 5.1

Restructuring and Other Impai_3

Restructuring and Other Impairments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		15 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance			$ 7.3	$ 11.6
Expenses recorded	$ 0.7	$ 12.2	10.2	21.6
Payments made			(18.3)	(24.9)
Noncash items			2.6	(3.5)
Restructuring Reserve, Ending Balance	1.8	4.8	1.8	4.8	$ 1.8
Academia & Government
Restructuring Reserve [Roll Forward]
Expenses recorded	(0.2)	5.8	3.7	10.9
Intellectual Property
Restructuring Reserve [Roll Forward]
Expenses recorded	0.4	3.3	3	6
Life Sciences & Healthcare
Restructuring Reserve [Roll Forward]
Expenses recorded	0.5	3.1	3.5	4.7
Severance and related benefit costs:
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance			5.9	11.5
Expenses recorded	2.6	9.9	12	19.2
Payments made			(15.5)	(23.4)
Noncash items			(0.7)	(2.7)
Restructuring Reserve, Ending Balance	1.7	4.6	1.7	4.6	1.7
Exit and disposal costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	0.1	0	0.2	0.1
Lease abandonment costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	(2)	2.3	(2)	2.3
Exit, Disposal and Abandonment Costs
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance			1.4	0.1
Expenses recorded			(1.8)	2.4
Payments made			(2.8)	(1.5)
Noncash items			3.3	(0.8)
Restructuring Reserve, Ending Balance	0.1	0.2	0.1	0.2	0.1
Segment Optimization Program
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring costs	8		8		8
Restructuring Reserve [Roll Forward]
Expenses recorded					$ 27.4
Segment Optimization Program | Academia & Government
Restructuring Reserve [Roll Forward]
Expenses recorded	(0.2)	1.6	3.8	1.6
Segment Optimization Program | Intellectual Property
Restructuring Reserve [Roll Forward]
Expenses recorded	0.4	1.4	3	1.4
Segment Optimization Program | Life Sciences & Healthcare
Restructuring Reserve [Roll Forward]
Expenses recorded	0.5	1.6	3.5	1.6
Segment Optimization Program | Severance and related benefit costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	2.6	2.3	12.1	2.3
Segment Optimization Program | Exit and disposal costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	0.1	0	0.2	0
Segment Optimization Program | Lease abandonment costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	(2)	2.3	(2)	2.3
ProQuest Acquisition Integration Program | Academia & Government
Restructuring Reserve [Roll Forward]
Expenses recorded	0	4.2	(0.1)	9.3
ProQuest Acquisition Integration Program | Intellectual Property
Restructuring Reserve [Roll Forward]
Expenses recorded	0	1.9	0	4.6
ProQuest Acquisition Integration Program | Life Sciences & Healthcare
Restructuring Reserve [Roll Forward]
Expenses recorded	0	1.5	0	3.1
ProQuest Acquisition Integration Program | Severance and related benefit costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	0	7.6	(0.1)	16.9
ProQuest Acquisition Integration Program | Exit and disposal costs:
Restructuring Reserve [Roll Forward]
Expenses recorded	$ 0	$ 0	$ 0	$ 0.1

Other Operating Expense (Inco_3

Other Operating Expense (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on legal settlement	$ 0	$ 0	$ 0	$ (49.4)
Net foreign exchange loss (gain)	4.4	11.7	4.6	32.3
Miscellaneous expense (income), net	0.2	2.8	1.8	(0.4)
Other operating expense (income), net	3.6	14.5	21.2	(17.5)
Discontinued Operations, Disposed of by Sale | MarkMonitor
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on divestiture	$ (1)	$ 0	$ 14.8	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ (6.8)	$ (35.3)	$ 8.2	$ (98.9)
Income (loss) before income taxes	(311.1)	(158.4)	(371.1)	(178.5)
Tax (benefit) on settlement of tax dispute				(70.4)
Income tax benefit due to impairment of intangible assets	$ 14.2	33	$ 14.2	33
Tax (benefit) due to release in valuation allowance		$ (17.1)		$ (17.1)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic EPS
Net income (loss)	$ (304.3)	$ (75)	$ (123.1)	$ 43.5	$ (379.3)	$ (79.6)
Dividends on preferred shares	12.5		18.6		31.3	37.4
Net income (loss) attributable to ordinary shares	$ (316.8)		$ (141.7)		$ (410.6)	$ (117)
Weighted average shares, basic (in shares)	685.6		675.9		676.2	675.4
Basic EPS (in dollars per share)	$ (0.46)		$ (0.21)		$ (0.61)	$ (0.17)
Diluted EPS
Net income (loss) attributable to ordinary shares	$ (316.8)		$ (141.7)		$ (410.6)	$ (117)
Change in fair value of private placement warrants	0		0		0	0
Net income (loss) attributable to ordinary shares, diluted	$ (316.8)		$ (141.7)		$ (410.6)	$ (117)
Weighted average shares, basic (in shares)	685.6		675.9		676.2	675.4
Weighted average effect of potentially dilutive shares (in shares)	0		0		0	0
Weighted average shares, diluted (in shares)	685.6		675.9		676.2	675.4
Diluted EPS (in dollars per share)	$ (0.46)		$ (0.21)		$ (0.61)	$ (0.17)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions		3 Months Ended		6 Months Ended
	Jun. 03, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred stock, dividend rate (as a percent)	5.25%			5.25%
Warrant and share-based payment awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)		22.5	30	26.2	30.7

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Revenue b

Segment Information - Revenue by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue
Total Revenues	$ 650.3	$ 668.8	$ 1,271.5	$ 1,297.9
Academia & Government
Disaggregation of Revenue
Total Revenues	344.5	342	662.2	656.7
Intellectual Property
Disaggregation of Revenue
Total Revenues	201.6	216.3	402.5	425.4
Life Sciences & Healthcare
Disaggregation of Revenue
Total Revenues	$ 104.2	$ 110.5	$ 206.8	$ 215.8

Segment Information - Adjusted

Segment Information - Adjusted EBITDA by Segment (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total Adjusted EBITDA	$ 274.4		$ 284.9		$ 510.7	$ 537.6
Provision (benefit) for income taxes	6.8		35.3		(8.2)	98.9
Depreciation and amortization	(184.4)		(178.1)		(363.8)	(350.7)
Interest expense, net	(71.1)		(73)		(141.3)	(146.6)
Transaction related costs	(3.1)		(0.7)		(7.5)	(2.4)
Share-based compensation expense	(18.9)		(30.5)		(34.3)	(71.7)
Goodwill and intangible asset impairments	(302.8)		(135.2)		(302.8)	(135.2)
Restructuring and other impairments	(0.7)		(12.2)		(10.2)	(21.6)
Restructuring and other impairments	(0.7)		(12.2)		(10.2)	(21.6)
Fair value adjustment of warrants	0		2.9		5.2	1.8
Other	(4.5)		(16.5)		(27.1)	10.3
Net income (loss)	(304.3)	$ (75)	(123.1)	$ 43.5	(379.3)	(79.6)
Dividends on preferred shares	(12.5)		(18.6)		(31.3)	(37.4)
Net income (loss) attributable to ordinary shares	(316.8)		(141.7)		(410.6)	(117)
Gain on settlement	0		0		0	49.4
Discontinued Operations, Disposed of by Sale | MarkMonitor
Segment Reporting Information [Line Items]
Loss on divestiture	(1)		0		14.8	0
Academia & Government
Segment Reporting Information [Line Items]
Total Adjusted EBITDA	152.1		146.8		275.6	272.2
Restructuring and other impairments	0.2		(5.8)		(3.7)	(10.9)
Intellectual Property
Segment Reporting Information [Line Items]
Total Adjusted EBITDA	89.1		100.1		172.2	194.7
Restructuring and other impairments	(0.4)		(3.3)		(3)	(6)
Life Sciences & Healthcare
Segment Reporting Information [Line Items]
Total Adjusted EBITDA	33.2		38		62.9	70.7
Restructuring and other impairments	$ (0.5)		$ (3.1)		$ (3.5)	$ (4.7)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss Contingencies [Line Items]
Gain on settlement	$ 0	$ 0	$ 0	$ 49.4
One of the larger legal claims
Loss Contingencies [Line Items]
Gain on settlement				$ 49.4