Basis of Condensed Consolidated Financial Statements (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts shown in the statement of cash flows:

(in thousands)	March 31, 2018		March 31, 2017
Cash and cash equivalents	$	123,698	$	102,932
Restricted cash included in other assets	7,540		17,423
Restricted cash included in prepaid expenses and other current assets	1,069		—
Total cash, cash equivalents and restricted cash	$	132,307	$	120,355

Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts shown in the statement of cash flows:

(in thousands)	March 31, 2018		March 31, 2017
Cash and cash equivalents	$	123,698	$	102,932
Restricted cash included in other assets	7,540		17,423
Restricted cash included in prepaid expenses and other current assets	1,069		—
Total cash, cash equivalents and restricted cash	$	132,307	$	120,355

Schedule of Accumulated Other Comprehensive Loss

The following table shows the components of accumulated other comprehensive loss, net of taxes as of March 31, 2018 and December 31, 2017:

(in thousands)	2018			2017
Cumulative foreign currency translation	$	(99,755	)	$	(95,630	)
Cumulative supplemental benefit plans	(6,760		)	(5,461		)
Net unrecognized gains on interest rate swaps	13,131			7,400
Accumulated other comprehensive loss	$	(93,384	)	$	(93,691	)

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The impact of the adoption of the new accounting standard on our condensed consolidated balance sheet is as follows:

	March 31, 2018
(in thousands)	As Reported			Balances Without Adoption Adjustments			Effect of Change Higher/(Lower)
Assets
Accounts receivable, net	$	244,046		$	244,303		$	(257	)
Prepaid expenses and other current assets	45,202			47,308			(2,106		)
Income tax receivable	8,053			8,044			9
Other assets	110,721			108,275			2,446
Liabilities
Accounts payable and other accrued expenses	$	171,030		$	171,220		$	(190	)
Contract liabilities, current	310,590			302,351			8,239
Contract liabilities, net of current	527,791			504,906			22,885
Deferred income tax liability	103,695			111,431			(7,736		)
Equity
Accumulated other comprehensive loss	$	(93,384	)	$	(93,391	)	$	7
Retained earnings	881,798			904,912			(23,114		)

As of March 31, 2018, as reported balances include previously discussed adjustments related to the adoption of the new accounting guidance.

The impact of the adoption of the new accounting standard on our condensed consolidated statement of operations is as follows:

	For the Three Months Ended March 31, 2018
(in thousands)	As Reported			Balances Without Adoption Adjustments			Effect of Change Higher/(Lower)
Operating revenue	$	444,900		$	444,405		$	495
Cost of services	239,389			239,526			(137		)
Selling, general and administrative expenses	114,952			114,380			572
Operating income	44,419			44,359			60
Benefit for income taxes	(711		)	(702		)	(9		)
Net income	28,287			28,218			69

The cumulative effect of the changes made to our condensed consolidated balance sheet as of January 1, 2018 for the adoption of the new accounting standard is as follows:

(in thousands)	December 31, 2017			Adoption Adjustments			January 1, 2018
Assets
Accounts receivable, net	$	256,595		$	(941	)	$	255,654
Prepaid expenses and other current assets	47,220			(965		)	46,255
Other assets	104,516			2,546			107,062
Liabilities
Contract liabilities, current	$	303,948		$	6,767		$	310,715
Contract liabilities, net of current	504,900			24,801			529,701
Deferred income tax liability	102,571			(7,736		)	94,835
Equity
Retained earnings	$	877,111		$	(23,183	)	$	853,928
Accumulated other comprehensive loss	(93,691		)	(9		)	(93,700		)