Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 10 — Income Taxes Forrester provides for income taxes on an interim basis according to management’s estimate of the effective tax rate expected to be applicable for the full fiscal year. Certain items such as changes in tax rates, tax benefits or expense related to settlements of share-based awards, tax effects of foreign currency gains or losses, and goodwill impairments are treated as discrete items and are recorded in the period in which they arise. Income tax benefit for the six months ended June 30, 2026 was $9.2 million resulting in an effective tax rate of 58.4% for the period. Income tax expense for the six months ended June 30, 2025 was $2.2 million resulting in an effective tax rate of (2.7)% for the period. The effective tax rate of 58.4% for the six months ended June 30, 2026 differs from the statutory tax rate of 21% primarily due to the impact of nondeductible expenses on the forecasted effective tax rate offset by the impact of the non-deductible goodwill impairment, which is recorded as a discrete item during the period. The recognition of the $9.2 million tax benefit for the six months ended June 30, 2026 resulted in an approximate $24.0 million tax asset (in prepaid and other current assets) and an approximate $15.0 million deferred tax liability being recorded in the Consolidated Balance Sheets. The Company is forecasting tax expense to be recorded in the remaining six months of the year which is expected to significantly reduce these balances by December 31, 2026. On July 4th, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, introducing changes to U.S. tax law. The effects of the OBBBA have been incorporated into the Company's estimated annual effective tax rate for the six months ended June 30, 2026 and the impact was not material. |