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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 167.6 $ 164.9
Accounts receivable, net 8.0 8.2
Accounts receivable, net - related party 30.9 15.4
Prepaid income taxes 0.2 0.6
Prepaid expenses and other current assets 12.4 13.2
Total current assets 219.1 202.3
Property, equipment and software, net 49.0 48.3
Non-current deferred tax assets 58.3 70.5
Restricted cash equivalents 2.9 1.5
Other assets 15.5 13.4
Total assets 344.8 336.0
Current liabilities:    
Accounts payable 5.0 7.2
Current portion of customer liabilities 0.9 1.1
Current portion of customer liabilities - related party 31.4 27.1
Accrued compensation and benefits 37.5 37.8
Other accrued expenses 23.5 16.7
Total current liabilities 98.3 89.9
Non-current portion of customer liabilities 0.0 0.0
Non-current portion of customer liabilities - related party 14.5 11.5
Other non-current liabilities 13.0 11.9
Total liabilities 125.8 113.3
8.00% Series A convertible preferred stock: par value $0.01 per share, 370,000 authorized, 232,032 shares issued and outstanding as of March 31, 2018 (aggregate liquidation value of $236.7); 370,000 authorized, 227,483 shares issued and outstanding as of December 31, 2017 (aggregate liquidation value of $232.0) 193.9 189.3
Stockholders’ equity (deficit)    
Common stock, $0.01 par value, 500,000,000 shares authorized, 121,419,597 shares issued and 108,816,768 shares outstanding at March 31, 2018; 116,650,388 shares issued and 104,409,961 shares outstanding at December 31, 2017 1.2 1.2
Additional paid-in capital 355.5 337.9
Accumulated deficit (267.8) (244.5)
Accumulated other comprehensive loss (2.3) (1.6)
Treasury stock, at cost, 12,602,829 shares as of March 31, 2018; 12,240,427 shares as of December 31, 2017 (61.5) (59.6)
Total stockholders’ equity (deficit) 25.1 33.4
Total liabilities and stockholders’ equity (deficit) $ 344.8 $ 336.0