Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Weighted-Average Assumptions Using Black-Scholes Option-Pricing Model

For the time-based options valued using the Black-Scholes option-pricing model, the Company used the following weighted-average assumptions:

	Time-Based awards
	2015			2014			2013
Expected term to exercise (years)		4.0			4.0			4.0
Expected volatility		26.63	%		29.04	%		28.04	%
Risk-free interest rate		1.42	%		1.36	%		1.16	%
Expected dividend yield		0.74	%		0.84	%		0	%

Schedule of Stock-Based Compensation Expense Recognized

Total stock options, SARs, RSUs and RSAs. The amount of stock-based compensation expense recognized in the Company’s Consolidated Statements of Comprehensive Income for the years ended December 31, 2015, 2014 and 2013 was as follows (in thousands):

	2015								2014 (1)						2013 (1)
Statement of Comprehensive Income Classification	Options, SARs		RSUs		RSAs		Total		Options, SARs		RSAs		Total		Options, SARs		RSAs		Total
Cost of software-enabled services	$	6,460	$	372	$	17	$	6,849	$	3,940	$	—	$	3,940	$	2,925	$	—	$	2,925
Cost of maintenance and term licenses		1,022		366		—		1,388		282		—		282		273		—		273
Cost of recurring revenues		7,482		738		17		8,237		4,222		—		4,222		3,198		—		3,198
Cost of professional services		1,166		222		—		1,388		443		—		443		338		—		338
Cost of non-recurring revenues		1,166		222		—		1,388		443		—		443		338		—		338
Total cost of revenues		8,648		960		17		9,625		4,665		—		4,665		3,536		—		3,536
Selling and marketing (2)		10,637		3,806		222		14,665		2,043		222		2,265		1,385		90		1,475
Research and development		5,676		2,912		—		8,588		1,165		—		1,165		901		—		901
General and administrative		8,270		2,931		—		11,201		3,388		—		3,388		2,331		143		2,474
Total operating expenses		24,583		9,649		222		34,454		6,596		222		6,818		4,617		233		4,850
Total stock-based compensation expense	$	33,231	$	10,609	$	239	$	44,079	$	11,261	$	222	$	11,483	$	8,153	$	233	$	8,386

(1)	There was no stock-based compensation expense associated with RSUs in 2014 and 2013.

(2)	For the year ended December 31, 2013, includes stock-based compensation expense of $0.1 million associated with restricted Class A stock. At December 31, 2013, there was no unearned non-cash stock based compensation related to the RSAs.

Summary of Stock Option Activity

The following table summarizes stock option and SAR activity as of and for the years ended December 31, 2015, 2014 and 2013:

				Weighted
				Average
	Shares			Exercise Price
Outstanding at December 31, 2012		13,411,130		$	12.47
Granted(1)		2,024,170			40.81
Cancelled/forfeited		(332,327	)		20.27
Exercised		(3,587,331	)		7.75
Outstanding at December 31, 2013		11,515,642			18.70
Granted(2)		2,198,825			55.74
Cancelled/forfeited		(203,586	)		30.51
Exercised		(1,790,233	)		13.47
Outstanding at December 31, 2014		11,720,648			26.24
Equity awards assumed from Advent		2,480,953			50.27
Granted(3)		3,818,295			67.91
Cancelled/forfeited		(630,844	)		50.50
Exercised		(2,249,870	)		15.45
Outstanding at December 31, 2015		15,139,182			41.28

(1)	Of the grants during 2013, 1,798,420 were granted under the 2008 Plan and 225,750 were granted under the 2006 Plan.

(2)	Of the grants during 2014, 450,000 were granted under the 2014 Plan, 1,632,825 were granted under the 2008 Plan and 116,000 were granted under the 2006 Plan.

(3)	Of the grants during 2015, 515,000 were granted under the 2014 Plan, 2,739,845 were granted under the 2008 Plan and 563,450 were granted under the 2006 Plan.

Summary of Stock Options Outstanding that are Expected to Vest and Stock Options Outstanding that are Exercisable

The following table summarizes information about stock options outstanding that are expected to vest and stock options outstanding that are exercisable at December 31, 2015:

Outstanding, Vested Options Currently Exercisable

Outstanding Options Expected to Vest

Weighted

Average

Weighted

Average

Aggregate

Remaining

Average

Aggregate

Remaining

Exercise

Intrinsic

Contractual

Exercise

Intrinsic

Contractual

Price

Value

Term

Price

Value

Term

(In thousands)

(Years)

(In thousands)

(Years)

6,788,912

21.20

319,682

4.66

8,350,270

57.61

89,728

9.12

Restricted Stock Units (RSUs) [Member]

Summary of Stock Option Activity

The following table summarizes RSU activity as of and for the year ended December 31, 2015 is as follows (in thousands):

	Number of Shares
Outstanding at January 1, 2015		—
Equity awards assumed from Advent		660,017
Granted		10,395
Cancelled/forfeited		(69,194	)
Vested		(122,492	)
Outstanding at December 31, 2015		478,726