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Consolidated Balance Sheets (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 70,061 $ 192,563
Investments 655 [1],[2] 490 [1],[2]
Customer funds 2,960  
Customer funds receivable 13,593  
Accounts receivable, net of allowances of $4,356 and $3,258 as of June 30, 2011 and December 31, 2010, respectively 37,127 24,273
Prepaid expenses and other current assets 27,693 17,929
Total current assets 152,089 235,255
Investments - long-term   2,254 [3]
Property and equipment, net 21,532 18,875
Software and website developments costs, net 34,505 29,875
Intangible assets, net 95,026 23,163
Goodwill 211,937 136,408
Deferred tax assets - long-term 26,357 1,015
Other assets - long-term 12,409 12,118
Total assets 553,855 458,963
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 4,721 5,241
Accrued compensation and benefits 13,985 10,823
Accrued liabilities - other 13,727 12,511
Customer funds payable 16,553  
Deferred revenue 7,810 5,010
Deferred tax liabilities   411
Capital leases payable 359 317
Total current liabilities 57,155 34,313
Capital leases payable - long-term 173 165
Deferred tax liabilities - long-term 38,691 9,488
Deferred revenue - long-term 5,387 3,254
Other liabilities - long-term 3,166 2,826
Total liabilities 104,572 50,046
Commitments and contingencies (Note 14)    
Stockholders' equity    
Preferred stock, $0.01 par value: 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2011 and December 31, 2010    
Common stock, $0.01 par value: 175,000,000 shares authorized; 44,450,128 shares issued and 41,352,913 shares outstanding as of June 30, 2011; and 175,000,000 shares authorized; 43,748,237 shares issued and 40,673,042 shares outstanding as of December 31, 2010 445 437
Treasury stock, at cost, 3,097,215 shares and 3,075,195 shares as of June 30, 2011 and December 31, 2010, respectively (51,525) (51,083)
Additional paid-in capital 475,952 463,614
Accumulated other comprehensive income 9,426 7,858
Retained earnings (accumulated deficit) 14,985 (11,909)
Total stockholders' equity 449,283 408,917
Total liabilities and stockholders' equity $ 553,855 $ 458,963
[1] As of June 30, 2011 and December 31, 2010, Level 1 short-term investments include investments in tax-advantaged preferred securities, for which we determined fair value based on the quoted market prices of underlying securities.
[2] Level 3 short-term investments include an auction rate security invested in a tax-exempt state government obligation that was valued at par with a value of $0.4 million, or 0.1% of our total assets, as of both June 30, 2011 and December 31, 2010. Our intent is not to hold the auction rate security invested in a tax-exempt state government obligation to maturity, but rather to use the interest reset feature to provide liquidity. However, should the marketplace auctions continue to fail we may hold the security to maturity, which is September 2011. In October 2010, $1.1 million of this security was redeemed by the issuer at par.
[3] Level 3 long-term investments as of December 31, 2010 included a tax-advantaged preferred stock of a financial institution with a fair value of $2.3 million, or 0.5% of total assets. As of December 31, 2010, it was uncertain whether we would be able to liquidate these securities within the next twelve months; as such we classified them as long-term on our consolidated balance sheet. Due to the lack of observable market quotes we utilized valuation models that relied exclusively on Level 3 inputs including those that are based on expected cash flow streams, including assessments of counterparty credit quality, default risk underlying the security, discount rates and overall capital market liquidity. In June 2011, we sold this security for approximately $2.5 million and recorded a gain of approximately $0.4 million in our consolidated statement of operations.