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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 275,319 $ 201,121
Available-for-sale debt securities 10,495 60,534
Accounts receivable, net of allowance for credit losses of $2,740 and $3,012, respectively 128,979 143,683
Unbilled contracts receivable, net [1] 121,704 77,677
Other current assets 41,258 36,459
Total current assets 577,755 519,474
Long-term unbilled contracts receivable [2] 43,021 4,107
Property and equipment, net 58,096 60,974
Operating lease right-of-use assets 62,149 68,498
Intangible assets, net 739,354 817,916
Goodwill 850,100 851,088
Other long-term assets 150,826 147,965
Total assets 2,481,301 2,470,022
Current liabilities:    
Accounts payable 14,679 7,811
Accrued liabilities 116,007 110,705
Current portion of long-term debt, net 36,210 36,095
Deferred revenue 44,003 35,136
Total current liabilities 210,899 189,747
Deferred revenue, less current portion 32,153 37,107
Long-term deferred tax liabilities 18,227 19,848
Long-term debt, net 711,259 729,392
Noncurrent operating lease liabilities 48,452 54,658
Other long-term liabilities 104,086 98,842
Total liabilities 1,125,076 1,129,594
Commitments and contingencies (Note 15)
Company stockholders’ equity:    
Preferred stock: $0.001 par value; (2022: authorized 15,000 shares; 2021: authorized 15,000 shares; and no shares issued and outstanding)
Common stock: $0.001 par value; (2022: authorized 350,000 shares, issued 115,764 shares, outstanding 104,030 shares; 2021: authorized 350,000 shares, issued 113,460, outstanding 103,260 shares) 116 113
Additional paid-in capital 1,380,814 1,340,480
Treasury stock at cost (2022: 11,734 shares; 2021: 10,200 shares) (206,757) (178,022)
Accumulated other comprehensive loss (3,648) (752)
Retained earnings 196,715 187,814
Total Company stockholders’ equity 1,367,240 1,349,633
Noncontrolling interest (11,015) (9,205)
Total equity 1,356,225 1,340,428
Total liabilities and equity $ 2,481,301 $ 2,470,022
[1] The unbilled contracts receivable increase relates primarily to a change in billing process and to the recognition of revenue from long-term contracts with two customers in the six months ended June 30,2022. The change in billing process has no impact on the Company’s cash flows.
[2] The long-term unbilled contracts receivable increase relates primarily to the recognition of revenue from a multi-year contract with one customer in the six months ended June 30, 2022.