XML 40 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1
Supplemental Guarantor Financial Statements (Tables)
3 Months Ended
Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Schedule Of Condensed Consolidating Financial Information

The condensed consolidating financial information of the Company and its subsidiaries are as follows (in thousands):

 

 

 

 

March 31, 2018

 

 

 

Parent

 

 

Guarantor Subsidiaries

 

 

Non-guarantor Subsidiaries

 

 

Consolidating and Eliminating Adjustments

 

 

Consolidated

 

Cash and cash equivalents

 

$

 

 

$

10,952

 

 

$

63,125

 

 

$

 

 

$

74,077

 

Accounts receivable, net

 

 

 

 

 

177,378

 

 

 

86,698

 

 

 

 

 

 

264,076

 

Contract asset

 

 

 

 

 

11,156

 

 

 

786

 

 

 

 

 

 

11,942

 

Prepaid expenses and other current assets

 

 

 

 

 

16,100

 

 

 

19,459

 

 

 

 

 

 

35,559

 

Restricted cash

 

 

 

 

 

543

 

 

 

 

 

 

 

 

 

543

 

Net property, plant and equipment

 

 

 

 

 

61,058

 

 

 

40,936

 

 

 

 

 

 

101,994

 

Investment in subsidiaries

 

 

3,512,062

 

 

 

982,351

 

 

 

 

 

 

(4,494,413

)

 

 

 

Intercompany receivables

 

 

 

 

 

265,532

 

 

 

116,137

 

 

 

(381,669

)

 

 

 

Deferred income taxes, long-term

 

 

 

 

 

 

 

 

2,041

 

 

 

 

 

 

2,041

 

Long-term contract asset

 

 

 

 

 

21,406

 

 

 

670

 

 

 

 

 

 

22,076

 

Goodwill, intangible and other assets, net

 

 

 

 

 

3,836,385

 

 

 

1,200,891

 

 

 

 

 

 

5,037,276

 

Total assets

 

$

3,512,062

 

 

$

5,382,861

 

 

$

1,530,743

 

 

$

(4,876,082

)

 

$

5,549,584

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

 

 

 

 

12,199

 

 

 

25,139

 

 

 

 

 

 

37,338

 

Accounts payable

 

 

 

 

 

8,441

 

 

 

9,196

 

 

 

 

 

 

17,637

 

Accrued expenses

 

 

7,344

 

 

 

57,597

 

 

 

45,747

 

 

 

 

 

 

110,688

 

Income taxes payable

 

 

 

 

 

13,140

 

 

 

3,042

 

 

 

 

 

 

16,182

 

Deferred revenue

 

 

 

 

 

163,056

 

 

 

29,968

 

 

 

 

 

 

193,024

 

Long-term debt, net of current portion

 

 

600,000

 

 

 

1,154,848

 

 

 

194,384

 

 

 

 

 

 

1,949,232

 

Other long-term liabilities

 

 

 

 

 

83,125

 

 

 

37,496

 

 

 

 

 

 

120,621

 

Intercompany payables

 

 

88,810

 

 

 

116,137

 

 

 

176,722

 

 

 

(381,669

)

 

 

 

Deferred income taxes, long-term

 

 

 

 

 

262,256

 

 

 

26,698

 

 

 

 

 

 

288,954

 

Total liabilities

 

 

696,154

 

 

 

1,870,799

 

 

 

548,392

 

 

 

(381,669

)

 

 

2,733,676

 

Total stockholders’ equity

 

 

2,815,908

 

 

 

3,512,062

 

 

 

982,351

 

 

 

(4,494,413

)

 

 

2,815,908

 

Total liabilities and stockholders’ equity

 

$

3,512,062

 

 

$

5,382,861

 

 

$

1,530,743

 

 

$

(4,876,082

)

 

$

5,549,584

 

 

 

 

 

December 31, 2017

 

 

 

Parent

 

 

Guarantor Subsidiaries

 

 

Non-guarantor Subsidiaries

 

 

Consolidating and Eliminating Adjustments

 

 

Consolidated

 

Cash and cash equivalents

 

$

 

 

$

21,191

 

 

$

42,866

 

 

$

 

 

$

64,057

 

Accounts receivable, net

 

 

 

 

 

173,997

 

 

 

69,903

 

 

 

 

 

 

243,900

 

Prepaid expenses and other current assets

 

 

 

 

 

19,770

 

 

 

18,972

 

 

 

 

 

 

38,742

 

Prepaid income taxes

 

 

 

 

 

6,366

 

 

 

5,800

 

 

 

 

 

 

12,166

 

Restricted cash

 

 

 

 

 

592

 

 

 

 

 

 

 

 

 

592

 

Net property, plant and equipment

 

 

 

 

 

60,774

 

 

 

40,182

 

 

 

 

 

 

100,956

 

Investment in subsidiaries

 

 

3,373,730

 

 

 

938,794

 

 

 

 

 

 

(4,312,524

)

 

 

 

Intercompany receivables

 

 

 

 

 

199,503

 

 

 

74,005

 

 

 

(273,508

)

 

 

 

Deferred income taxes, long-term

 

 

 

 

 

 

 

 

2,324

 

 

 

 

 

 

2,324

 

Goodwill, intangible and other assets, net

 

 

 

 

 

3,871,503

 

 

 

1,205,276

 

 

 

 

 

 

5,076,779

 

Total assets

 

$

3,373,730

 

 

$

5,292,490

 

 

$

1,459,328

 

 

$

(4,586,032

)

 

$

5,539,516

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

 

 

 

 

12,626

 

 

 

25,237

 

 

 

 

 

 

37,863

 

Accounts payable

 

 

 

 

 

19,223

 

 

 

7,864

 

 

 

 

 

 

27,087

 

Accrued expenses

 

 

16,157

 

 

 

96,540

 

 

 

55,381

 

 

 

 

 

 

168,078

 

Income taxes payable

 

 

 

 

 

 

 

 

6,031

 

 

 

 

 

 

6,031

 

Deferred revenue

 

 

 

 

 

182,181

 

 

 

22,420

 

 

 

 

 

 

204,601

 

Long-term debt, net of current portion

 

 

600,000

 

 

 

1,197,576

 

 

 

209,756

 

 

 

 

 

 

2,007,332

 

Other long-term liabilities

 

 

 

 

 

82,239

 

 

 

36,440

 

 

 

 

 

 

118,679

 

Intercompany payables

 

 

71,185

 

 

 

74,005

 

 

 

128,318

 

 

 

(273,508

)

 

 

 

Deferred income taxes, long-term

 

 

 

 

 

254,370

 

 

 

29,087

 

 

 

 

 

 

283,457

 

Total liabilities

 

 

687,342

 

 

 

1,918,760

 

 

 

520,534

 

 

 

(273,508

)

 

 

2,853,128

 

Total stockholders’ equity

 

 

2,686,388

 

 

 

3,373,730

 

 

 

938,794

 

 

 

(4,312,524

)

 

 

2,686,388

 

Total liabilities and stockholders’ equity

 

$

3,373,730

 

 

$

5,292,490

 

 

$

1,459,328

 

 

$

(4,586,032

)

 

$

5,539,516

 

 

 

 

 

For the Three Months Ended March 31, 2018

 

 

 

Parent

 

 

Guarantor Subsidiaries

 

 

Non-guarantor Subsidiaries

 

 

Consolidating and Eliminating Adjustments

 

 

Consolidated

 

Revenues

 

$

 

 

$

287,651

 

 

$

134,453

 

 

$

(175

)

 

$

421,929

 

Cost of revenues

 

 

 

 

 

149,678

 

 

 

80,077

 

 

 

(175

)

 

 

229,580

 

Gross profit

 

 

 

 

 

137,973

 

 

 

54,376

 

 

 

 

 

 

192,349

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling and marketing

 

 

 

 

 

22,025

 

 

 

9,125

 

 

 

 

 

 

31,150

 

Research and development

 

 

 

 

 

27,289

 

 

 

11,630

 

 

 

 

 

 

38,919

 

General and administrative

 

 

 

 

 

26,690

 

 

 

8,743

 

 

 

 

 

 

35,433

 

Total operating expenses

 

 

 

 

 

76,004

 

 

 

29,498

 

 

 

 

 

 

105,502

 

Operating income

 

 

 

 

 

61,969

 

 

 

24,878

 

 

 

 

 

 

86,847

 

Interest expense, net

 

 

(8,813

)

 

 

(12,267

)

 

 

(4,274

)

 

 

 

 

 

(25,354

)

Other (expense) income, net

 

 

 

 

 

(18,846

)

 

 

19,284

 

 

 

 

 

 

438

 

Earnings from subsidiaries

 

 

60,063

 

 

 

33,480

 

 

 

 

 

 

(93,543

)

 

 

 

Income before income taxes

 

 

51,250

 

 

 

64,336

 

 

 

39,888

 

 

 

(93,543

)

 

 

61,931

 

Provision for income taxes

 

 

 

 

 

4,273

 

 

 

6,408

 

 

 

 

 

 

10,681

 

Net income

 

$

51,250

 

 

$

60,063

 

 

$

33,480

 

 

$

(93,543

)

 

$

51,250

 

Other comprehensive income, net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency exchange translation adjustment

 

 

5,217

 

 

 

5,217

 

 

 

7,386

 

 

 

(12,603

)

 

 

5,217

 

Comprehensive income

 

$

56,467

 

 

$

65,280

 

 

$

40,866

 

 

$

(106,146

)

 

$

56,467

 

 

 

 

 

For the Three Months Ended March 31, 2017

 

 

 

Parent

 

 

Guarantor Subsidiaries

 

 

Non-guarantor Subsidiaries

 

 

Consolidating and Eliminating Adjustments

 

 

Consolidated

 

Revenues

 

$

 

 

$

286,034

 

 

$

122,100

 

 

$

(435

)

 

$

407,699

 

Cost of revenues

 

 

 

 

 

144,757

 

 

 

73,137

 

 

 

(435

)

 

 

217,459

 

Gross profit

 

 

 

 

 

141,277

 

 

 

48,963

 

 

 

 

 

 

190,240

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling and marketing

 

 

 

 

 

22,625

 

 

 

7,617

 

 

 

 

 

 

30,242

 

Research and development

 

 

 

 

 

27,169

 

 

 

11,280

 

 

 

 

 

 

38,449

 

General and administrative

 

 

 

 

 

22,608

 

 

 

9,224

 

 

 

 

 

 

31,832

 

Total operating expenses

 

 

 

 

 

72,402

 

 

 

28,121

 

 

 

 

 

 

100,523

 

Operating income

 

 

 

 

 

68,875

 

 

 

20,842

 

 

 

 

 

 

89,717

 

Interest expense, net

 

 

(8,813

)

 

 

(15,004

)

 

 

(5,203

)

 

 

 

 

 

(29,020

)

Other (expense) income, net

 

 

 

 

 

(17,731

)

 

 

17,660

 

 

 

 

 

 

(71

)

Loss on extinguishment of debt

 

 

 

 

 

(1,743

)

 

 

(583

)

 

 

 

 

 

(2,326

)

Earnings from subsidiaries

 

 

56,960

 

 

 

28,629

 

 

 

 

 

 

(85,589

)

 

 

 

Income before income taxes

 

 

48,147

 

 

 

63,026

 

 

 

32,716

 

 

 

(85,589

)

 

 

58,300

 

Provision for income taxes

 

 

 

 

 

6,066

 

 

 

4,087

 

 

 

 

 

 

10,153

 

Net income

 

$

48,147

 

 

$

56,960

 

 

$

28,629

 

 

$

(85,589

)

 

$

48,147

 

Other comprehensive income, net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency exchange translation adjustment

 

 

10,779

 

 

 

10,779

 

 

 

10,109

 

 

 

(20,888

)

 

 

10,779

 

Comprehensive income

 

$

58,926

 

 

$

67,739

 

 

$

38,738

 

 

$

(106,477

)

 

$

58,926

 

 

 

 

 

For the Three Months Ended March 31, 2018

 

 

 

Parent

 

 

Guarantor Subsidiaries

 

 

Non-guarantor Subsidiaries

 

 

Consolidating and Eliminating Adjustments

 

 

Consolidated

 

Cash Flow from Operating Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

51,250

 

 

$

60,063

 

 

$

33,480

 

 

$

(93,543

)

 

$

51,250

 

Non-cash adjustments

 

 

 

 

 

48,163

 

 

 

16,184

 

 

 

 

 

 

64,347

 

Intercompany transactions

 

 

17,626

 

 

 

(22,927

)

 

 

5,301

 

 

 

 

 

 

 

Earnings from subsidiaries

 

 

(60,063

)

 

 

(33,480

)

 

 

 

 

 

93,543

 

 

 

 

Changes in operating assets and liabilities

 

 

(8,813

)

 

 

(22,644

)

 

 

(14,196

)

 

 

 

 

 

(45,653

)

Net cash provided by operating activities

 

 

 

 

 

29,175

 

 

 

40,769

 

 

 

 

 

 

69,944

 

Cash Flow from Investment Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additions to property and equipment

 

 

 

 

 

(4,173

)

 

 

(2,990

)

 

 

 

 

 

(7,163

)

Cash paid for business acquisitions, net of cash acquired

 

 

 

 

 

 

 

 

(191

)

 

 

 

 

 

(191

)

Additions to capitalized software

 

 

 

 

 

(2,689

)

 

 

(1,256

)

 

 

 

 

 

(3,945

)

Net cash used in investing activities

 

 

 

 

 

(6,862

)

 

 

(4,437

)

 

 

 

 

 

(11,299

)

Cash Flow from Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash received from debt borrowings

 

 

 

 

 

45,000

 

 

 

 

 

 

 

 

 

45,000

 

Repayments of debt

 

 

 

 

 

(90,250

)

 

 

(16,000

)

 

 

 

 

 

(106,250

)

Transactions involving Holding's common stock

 

 

 

 

 

12,457

 

 

 

 

 

 

 

 

 

12,457

 

Intercompany transactions

 

 

 

 

 

192

 

 

 

(192

)

 

 

 

 

 

 

Net cash used in financing activities

 

 

 

 

 

(32,601

)

 

 

(16,192

)

 

 

 

 

 

(48,793

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

 

 

 

 

 

 

 

119

 

 

 

 

 

 

119

 

Net increase (decrease) in cash, cash equivalents and restricted cash

 

 

 

 

 

(10,288

)

 

 

20,259

 

 

 

 

 

 

9,971

 

Cash, cash equivalents and restricted cash, beginning of period

 

 

 

 

 

21,783

 

 

 

42,866

 

 

 

 

 

 

64,649

 

Cash, cash equivalents and restricted cash, end of period

 

$

 

 

$

11,495

 

 

$

63,125

 

 

$

 

 

$

74,620

 

 

 

 

 

For the Three Months Ended March 31, 2017

 

 

 

Parent

 

 

Guarantor Subsidiaries

 

 

Non-guarantor Subsidiaries

 

 

Consolidating and Eliminating Adjustments

 

 

Consolidated

 

Cash Flow from Operating Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

48,147

 

 

$

56,960

 

 

$

28,629

 

 

$

(85,589

)

 

$

48,147

 

Non-cash adjustments

 

 

 

 

 

51,401

 

 

 

16,907

 

 

 

 

 

 

68,308

 

Intercompany transactions

 

 

17,625

 

 

 

(12,791

)

 

 

(4,834

)

 

 

 

 

 

 

Earnings from subsidiaries

 

 

(56,960

)

 

 

(28,629

)

 

 

 

 

 

85,589

 

 

 

 

Changes in operating assets and liabilities

 

 

(8,812

)

 

 

(36,492

)

 

 

(13,263

)

 

 

 

 

 

(58,567

)

Net cash provided by operating activities

 

 

 

 

 

30,449

 

 

 

27,439

 

 

 

 

 

 

57,888

 

Cash Flow from Investment Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additions to property and equipment

 

 

 

 

 

(5,027

)

 

 

(963

)

 

 

 

 

 

(5,990

)

Cash paid for business acquisitions, net of cash acquired

 

 

 

 

 

1,802

 

 

 

3

 

 

 

 

 

 

1,805

 

Additions to capitalized software

 

 

 

 

 

(2,331

)

 

 

(946

)

 

 

 

 

 

(3,277

)

Net cash used in investing activities

 

 

 

 

 

(5,556

)

 

 

(1,906

)

 

 

 

 

 

(7,462

)

Cash Flow from Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash received from debt borrowings

 

 

 

 

 

45,000

 

 

 

 

 

 

 

 

 

45,000

 

Repayments of debt

 

 

 

 

 

(77,200

)

 

 

(28,000

)

 

 

 

 

 

(105,200

)

Transactions involving Holding's common stock

 

 

 

 

 

713

 

 

 

 

 

 

 

 

 

713

 

Fees paid for debt extinguishment

 

 

 

 

 

(943

)

 

 

(420

)

 

 

 

 

 

(1,363

)

Intercompany transactions

 

 

 

 

 

60

 

 

 

(60

)

 

 

 

 

 

 

Net cash used in financing activities

 

 

 

 

 

(32,370

)

 

 

(28,480

)

 

 

 

 

 

(60,850

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

 

 

 

 

 

 

 

1,663

 

 

 

 

 

 

1,663

 

Net decrease in cash, cash equivalents and restricted cash

 

 

 

 

 

(7,477

)

 

 

(1,284

)

 

 

 

 

 

(8,761

)

Cash, cash equivalents and restricted cash, beginning of period

 

 

 

 

 

35,511

 

 

 

84,163

 

 

 

 

 

 

119,674

 

Cash, cash equivalents and restricted cash, end of period

 

$

 

 

$

28,034

 

 

$

82,879

 

 

$

 

 

$

110,913