Impacts on Financial Statements

The following tables summarize the impacts of ASC 606 adoption on the Company’s Condensed Consolidated Financial Statements:

Condensed Consolidated Balance Sheet as of June 30, 2018:



	As Previously Reported			Adjustments			As Adjusted
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	31,440		$	—		$	31,440
Receivables, net	291,630			5,641			297,271
Income tax receivable	21,671			—			21,671
Prepaid expenses and other	84,810			11,331			96,141
Deferred costs	38,985			(11,916		)	27,069
Total current assets	468,536			5,056			473,592
PROPERTY AND EQUIPMENT, net	286,850			—			286,850
OTHER ASSETS:
Non-current deferred costs	95,540			(20,675		)	74,865
Computer software, net of amortization	288,172			—			288,172
Other non-current assets	107,775			2,524			110,299
Customer relationships, net of amortization	115,034			—			115,034
Other intangible assets, net of amortization	38,467			—			38,467
Goodwill	649,929			—			649,929
Total other assets	1,294,917			(18,151		)	1,276,766
Total assets	$	2,050,303		$	(13,095	)	$	2,037,208
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	34,510		$	—		$	34,510
Accrued expenses	97,848			(9,084		)	88,764
Deferred revenues	355,538			(3,107		)	352,431
Total current liabilities	487,896			(12,191		)	475,705
LONG-TERM LIABILITIES:
Non-current deferred revenues	93,094			(75,610		)	17,484
Non-current deferred income tax liability	189,613			18,690			208,303
Other long-term liabilities	12,872			—			12,872
Total long-term liabilities	295,579			(56,920		)	238,659
Total liabilities	783,475			(69,111		)	714,364
STOCKHOLDERS' EQUITY
Preferred stock - $1 par value; 500,000 shares authorized, none issued	—			—			—
Common stock - $0.01 par value; 250,000,000 shares authorized; 103,278,562 shares issued at June 30, 2018	1,033			—			1,033
Additional paid-in capital	464,138			—			464,138
Retained earnings	1,856,917			56,016			1,912,933
Less treasury stock at cost 26,107,903 shares at June 30, 2018	(1,055,260		)	—			(1,055,260		)
Total stockholders' equity	1,266,828			56,016			1,322,844
Total liabilities and equity	$	2,050,303		$	(13,095	)	$	2,037,208

Condensed Consolidated Statement of Income for the three months ended September 30, 2017:



	Three Months Ended September 30, 2017
	As Previously Reported			Adjustments			As Adjusted
REVENUE	$	359,934		$	1,350		$	361,284

EXPENSES
Cost of Revenue	204,715			(800		)	203,915
Research and Development	20,929			—			20,929
Selling, General, and Administrative	43,733			(2,645		)	41,088
Gain on Disposal of a Business	(1,705		)	—			(1,705		)
Total Expenses	267,672			(3,445		)	264,227

OPERATING INCOME	92,262			4,795			97,057

INTEREST INCOME (EXPENSE)
Interest Income	147			—			147
Interest Expense	(189		)	—			(189		)
Total Interest Income (Expense)	(42		)	—			(42		)

INCOME BEFORE INCOME TAXES	92,220			4,795			97,015

PROVISION/ (BENEFIT) FOR INCOME TAXES	28,809			1,336			30,145

NET INCOME	$	63,411		$	3,459		$	66,870

Basic earnings per share	$	0.82					$	0.87
Basic weighted average shares outstanding	77,283						77,283

Diluted earnings per share	$	0.82					$	0.86
Diluted weighted average shares outstanding	77,646						77,646

Condensed Consolidated Statement of Cash Flows for the three months ended September 30, 2017:



	Three Months Ended September 30, 2017
	As Previously Reported			Adjustments			As Adjusted
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$	63,411		$	3,459		$	66,870
Adjustments to reconcile net income from operations to net cash from operating activities:
Depreciation	12,419			—			12,419
Amortization	23,856			—			23,856
Change in deferred income taxes	1,359			2,031			3,390
Expense for stock-based compensation	1,513			—			1,513
(Gain)/loss on disposal of assets and businesses	(1,620		)	—			(1,620		)
Changes in operating assets and liabilities:
Change in receivables	105,243			(3,310		)	101,933
Change in prepaid expenses, deferred costs and other	(13,645		)	(4,424		)	(18,069		)
Change in accounts payable	2,000			—			2,000
Change in accrued expenses	(9,881		)	3,774			(6,107		)
Change in income taxes	26,141			(695		)	25,446
Change in deferred revenues	(72,074		)	(835		)	(72,909		)
Net cash from operating activities	138,722			—			138,722

CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for acquisitions, net of cash acquired	(10,455		)	—			(10,455		)
Capital expenditures	(3,708		)	—			(3,708		)
Proceeds from the sale of businesses	200			—			200
Proceeds from the sale of assets	106			—			106
Internal use software	(3,452		)	—			(3,452		)
Computer software developed	(22,976		)	—			(22,976		)
Net cash from investing activities	(40,285		)	—			(40,285		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on credit facilities	(50,000		)	—			(50,000		)
Purchase of treasury stock	(30,018		)	—			(30,018		)
Dividends paid	(23,904		)	—			(23,904		)
Proceeds from issuance of common stock upon exercise of stock options	1			—			1
Tax withholding payments related to share based compensation	(7,033		)	—			(7,033		)
Proceeds from sale of common stock	1,792			—			1,792
Net cash from financing activities	(109,162		)	—			(109,162		)
NET CHANGE IN CASH AND CASH EQUIVALENTS	$	(10,725	)	$	—		$	(10,725	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	$	114,765		$	—		$	114,765
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	104,040		$	—		$	104,040