Basis of Condensed Consolidated Financial Statements (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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)	September 30, 2018		September 30, 2017
Cash and cash equivalents	$	97,884	$	149,411
Restricted cash included in other assets	10,355		13,532
Restricted cash included in prepaid expenses and other current assets	1,070		—
Total cash, cash equivalents and restricted cash	$	109,309	$	162,943

Schedule of Accumulated Other Comprehensive Loss

The following table shows the components of accumulated other comprehensive loss, net of taxes as of September 30, 2018 and December 31, 2017:

(in thousands)	2018			2017
Cumulative foreign currency translation	$	(119,369	)	$	(95,630	)
Cumulative supplemental benefit plans	(7,008		)	(5,461		)
Net unrecognized gains on interest rate swaps	19,764			7,400
Accumulated other comprehensive loss	$	(106,613	)	$	(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 statement of operations is as follows:

	For the Three Months Ended September 30, 2018
(in thousands)	As Reported		Balances Without Adoption Adjustments		Effect of Change Higher/(Lower)
Operating revenue	$	451,768	$	451,239	$	529
Cost of services	230,419		230,361		58
Selling, general and administrative expenses	113,075		113,814		(739		)
Operating income	59,780		58,570		1,210
Provision for income taxes	20,836		20,534		302
Net income	22,451		21,543		908

	For the Nine Months Ended September 30, 2018
(in thousands)	As Reported		Balances Without Adoption Adjustments		Effect of Change Higher/(Lower)
Operating revenue	$	1,385,069	$	1,359,966	$	25,103
Cost of services	709,154		709,550		(396		)
Selling, general and administrative expenses	340,049		340,985		(936		)
Operating income	193,836		167,401		26,435
Provision for income taxes	37,432		31,440		5,992
Net income	109,254		88,811		20,443

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

	September 30, 2018
(in thousands)	As Reported			Balances Without Adoption Adjustments			Effect of Change Higher/(Lower)
Assets
Accounts receivable, net	$	254,263		$	255,364		$	(1,101	)
Prepaid expenses and other current assets	53,515			53,153			362
Income tax receivable	8,984			7,985			999
Other assets	119,380			117,013			2,367
Liabilities
Accounts payable and other accrued expenses	$	157,580		$	157,908		$	(328	)
Contract liabilities, current	308,659			299,617			9,042
Contract liabilities, net of current	520,544			523,175			(2,631		)
Deferred income tax liability	109,356			110,101			(745		)
Equity
Accumulated other comprehensive loss	$	(106,613	)	$	(106,642	)	$	29
Retained earnings	962,765			965,505			(2,740		)

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			107,428
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		)