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Revenues (Tables)
 12 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables summarize revenues from contracts with clients (in millions):
 
Year ended December 31, 2018
 
Servicing
Software
 
Origination
Software
 
Software Solutions
 
Data and Analytics
 
Corporate and Other
 
Total
Software and hosting solutions
$
716.3

 
$
108.8

 
$
825.1

 
$
29.8

 
$
—

 
$
854.9

Professional services
82.2

 
44.5

 
126.7

 
2.1

 
(2.5
)
(1)
126.3

Data solutions
—

 
—

 
—

 
119.7

 
—

 
119.7

Other
0.5

 
9.7

 
10.2

 
2.9

 
—

 
13.1

     Revenues
$
799.0

 
$
163.0

 
$
962.0

 
$
154.5

 
$
(2.5
)
 
$
1,114.0

_______________________________________________________
(1)
Revenues for Corporate and Other represent deferred revenue purchase accounting adjustments recorded in accordance with GAAP.
Effects of Topic 606
As a result of applying the modified retrospective method to adopt ASC 606, the following amounts on our Consolidated Balance Sheet were adjusted as of January 1, 2018 to reflect the cumulative effect adjustment to the opening balance of Retained earnings (in millions):
 
As reported
December 31, 2017
 
Adjustments for
ASC 606 adoption
 
Adjusted
January 1, 2018
Trade receivables, net
$
201.8

 
$
(6.2
)
 
$
195.6

Prepaid expenses and other current assets
44.6

 
11.8

 
56.4

Receivables from related parties
18.1

 
(3.7
)
 
14.4

Computer software, net
416.8

 
1.8

 
418.6

Other non-current assets
240.1

 
16.6

 
256.7

Total assets
3,655.9

 
20.3

 
3,676.2

 
 
 
 
 
 
Deferred revenues (current)
59.6

 
(1.9
)
 
57.7

Deferred revenues (non-current)
100.7

 
6.8

 
107.5

Deferred income taxes
224.6

 
4.2

 
228.8

Total liabilities
1,947.1

 
9.1

 
1,956.2

Retained earnings
201.4

 
11.2

 
212.6

Total equity
1,708.8

 
11.2

 
1,720.0

Total liabilities and equity
3,655.9

 
20.3

 
3,676.2

Effect of ASC 606 as of December 31, 2018 and for the Year Ended December 31, 2018
The following table summarizes the effect of adopting ASC 606 on our Consolidated Balance Sheet (in millions):
 
As reported
December 31, 2018
 
Effect of
ASC 606 adoption
 
Amounts without adoption of ASC 606
December 31, 2018
Trade receivables, net
$
172.3

 
$
6.9

 
$
179.2

Prepaid expenses and other current assets
67.3

 
(14.4
)
 
52.9

Receivables from related parties
6.2

 
4.8

 
11.0

Computer software, net
405.6

 
(3.7
)
 
401.9

Other non-current assets
286.9

 
(24.2
)
 
262.7

Total assets
3,653.4

 
(30.6
)
 
3,622.8

 
 
 
 
 
 
Deferred revenues (current)
52.9

 
4.1

 
57.0

Deferred revenues (non-current)
106.8

 
(4.3
)
 
102.5

Deferred income taxes
220.9

 
(8.1
)
 
212.8

Total liabilities
1,866.9

 
(8.3
)
 
1,858.6

Retained earnings
381.1

 
(22.3
)
 
358.8

Total equity
1,786.5

 
(22.3
)
 
1,764.2

Total liabilities and equity
3,653.4

 
(30.6
)
 
3,622.8

The following tables summarize the effect of adopting ASC 606 on our Consolidated Statement of Earnings and Comprehensive Earnings (in millions):
 
Year ended December 31, 2018
 
As reported
 
Effect of
ASC 606 adoption
 
Amounts without adoption of ASC 606
Revenues
$
1,114.0

 
$
(11.6
)
 
$
1,102.4

 

 

 

Operating expenses
625.4

 
4.5

 
629.9

Depreciation and amortization
217.0

 
(1.1
)
 
215.9

Income tax expense
37.7

 
(3.9
)
 
33.8

Net earnings
168.5

 
(11.1
)
 
157.4

 

 

 

Earnings per share:

 

 

Basic
$
1.14

 
$
(0.07
)
 
$
1.07

Diluted
$
1.14

 
$
(0.08
)
 
$
1.06

The following table summarizes the effect of adopting ASC 606 on our Consolidated Statement of Cash Flow (in millions):
 
Year ended December 31, 2018
 
As reported
 
Effect of
ASC 606 adoption
 
Amounts without adoption of ASC 606
Cash flows from operating activities:
 
 
 
 
 
Net earnings
$
168.5

 
$
(11.1
)
 
$
157.4

Certain adjustments to reconcile net earnings to net cash provided by operating activities:
 
 
 
 
 
Depreciation and amortization
217.0

 
(1.1
)
 
215.9

Deferred income taxes, net
(7.5
)
 
(3.9
)
 
(11.4
)
Changes in assets and liabilities:
 
 
 
 
 
Trade and other receivables, including receivables from related parties
44.5

 
(1.8
)
 
42.7

Prepaid expenses and other assets
(41.5
)
 
6.3

 
(35.2
)
Deferred contract costs
(44.8
)
 
4.5

 
(40.3
)
Deferred revenues
(6.4
)
 
4.7

 
(1.7
)
Net cash provided by operating activities
$
435.5

 
$
(2.4
)
 
$
433.1

Cash flows from investing activities:
 
 
 
 
 
Additions to computer software
$
(73.1
)
 
$
2.4

 
$
(70.7
)
Net cash used in investing activities
$
(144.1
)
 
$
2.4

 
$
(141.7
)