Supplementary Information

3 Months Ended

Mar. 31, 2022

Supplementary Information [Abstract]

Supplementary Information

4. Supplementary Information

Cash, cash equivalents and restricted cash

The Company considers all highly liquid investments with original or remaining maturities of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. Restricted cash is included in other long-term assets on the consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets that sum to the total of the amounts reported in the consolidated statement of cash flows (in thousands):

	March 31, 2022		December 31, 2021
Cash and cash equivalents	$	405,578	$	413,743
Restricted cash included in other long-term assets		255		269
Total cash, cash equivalents, and restricted cash	$	405,833	$	414,012

Restricted cash represents amounts required for a contractual agreement with an insurer for the payment of potential health insurance claims, and term deposits for bank guarantees.

Property and equipment, net

Property and equipment consisted of the following (in thousands):

	March 31,		December 31,
	2022		2021
Land	$	9,852	$	9,888
Building and improvements		18,238		18,358
Computer equipment and software		45,633		45,027
Furniture, equipment and other		12,782		12,947
Leasehold improvements		9,152		9,829
Right-of-use assets under finance leases		2,541		2,532
Total property and equipment		98,198		98,581
Less: accumulated depreciation and amortization		58,010		58,103
Property and equipment, net	$	40,188	$	40,478

Depreciation expense, including amortization of right-of-use assets under finance leases, was $1.8 million for each of the three months ended March 31, 2022 and 2021.

Other liabilities

The following table provides the details of other accrued expenses and current liabilities (in thousands):

	March 31,		December 31,
	2022		2021
Obligations for acquisition of businesses	$	24,099	$	87,636
Income taxes payable		8,374		5,887
Accrued VAT		5,576		6,047
Accrued royalties		4,030		2,537
Accrued professional fees		3,668		3,516
Employee stock purchase plan obligations		2,362		4,222
Billings in excess of cost		1,449		1,459
Defined contribution plan liabilities		1,097		1,513
Non-income tax liabilities		1,081		1,653
Other current liabilities		5,242		7,756
Total	$	56,978	$	122,226

The following table provides details of other long-term liabilities (in thousands):

	March 31,		December 31,
	2022		2021
Pension and other post retirement liabilities	$	15,329	$	15,086
Deferred tax liabilities		15,304		15,389
Other long-term liabilities		12,386		12,419
Total	$	43,019	$	42,894

Restructuring expense

In 2021, the Company initiated a restructuring plan to realign resources with the Company’s current business outlook and cost structure. The restructuring plan resulted in charges for employee termination benefits of $3.3 million for the three months ended March 31, 2021. There were no restructuring costs for the three months ended March 31, 2022. The restructuring costs were attributable primarily to the Software reportable segment. The restructuring plan was completed, and all amounts were paid in 2021.

 Other expense, net

Other expense, net consists of the following (in thousands):

	Three Months Ended March 31,
	2022		2021
Foreign exchange loss	$	1,913	$	929
Other expense (income), net		155		(94	)
Other expense, net	$	2,068	$	835