Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Cumulative Effect of the Changes to Financial Statements for the adoption of the New Revenue Standard

The cumulative effects of the changes made to our consolidated balance sheet as of January 1, 2018, in connection with the adoption of the New Revenue Standard were as follows (in thousands):

	Condensed Consolidated Balance Sheet
	Previous U.S. GAAP
	December 31, 2017		New U.S. GAAP		Attributed to the
	(Reported)		January 1, 2018		New Revenue Standard
ASSETS
Cash, cash equivalents and marketable securities	$	471,930	$	471,930	$	-
Accounts receivable		234,597		237,281		2,684
Inventories		164,318		163,184		(1,134)
Property and equipment, net		379,096		379,096		-
Goodwill and intangible assets, net		243,719		243,719		-
Other assets		219,756		246,481		26,725
TOTAL ASSETS	$	1,713,416	$	1,741,691	$	28,275
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Accounts payable	$	66,968	$	66,968	$	-
Accrued liabilities		253,418		254,381		963
Deferred income tax liabilities		25,353		25,087		(266)
Line of credit and long-term debt		1,261,075		1,261,075		-
Deferred revenue		64,726		110,158		45,432
Other long-term liabilities		95,718		82,840		(12,878)
Total liabilities		1,767,258		1,800,509		33,251
Stockholders’ Deficit:
Retained earnings		803,545		798,569		(4,976)
All other stockholders' deficit and noncontrolling interest		(857,387)		(857,387)		-
Total stockholders’ deficit		(53,842)		(58,818)		(4,976)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	1,713,416	$	1,741,691	$	28,275

The following tables compare the reported unaudited condensed consolidated balance sheet, statement of operations and cash flows, as of and for the three months ended March 31, 2018, to the pro forma amounts had the previous U.S. GAAP guidance been in effect (in thousands):

	Condensed Consolidated Balance Sheet
	As of March 31, 2018
			New U.S. GAAP		Attributed to the
	Previous U.S. GAAP		(As Reported)		New Revenue Standard
ASSETS
Cash and cash equivalents	$	159,229	$	159,229	$	-
Accounts receivable		257,214		259,865		2,651
Inventories		180,328		179,039		(1,289)
Property and equipment, net		384,246		384,246		-
Goodwill and intangible assets, net		242,915		242,915		-
Other assets		212,896		244,198		31,302
TOTAL ASSETS	$	1,436,828	$	1,469,492	$	32,664
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Accounts payable	$	70,409	$	70,409	$	-
Accrued liabilities		209,437		210,384		947
Deferred income tax liabilities		29,786		27,529		(2,257)
Line of credit and long-term debt		1,016,505		1,016,505		-
Deferred revenue		64,813		109,074		44,261
Other long-term liabilities		94,296		84,573		(9,723)
Total liabilities		1,485,246		1,518,474		33,228
Stockholders’ Deficit:
Retained earnings		880,785		880,348		(437)
Accumulated other comprehensive loss		(34,079)		(34,206)		(127)
All other stockholders' deficit and noncontrolling interest		(895,124)		(895,124)		-
Total stockholders’ deficit		(48,418)		(48,982)		(564)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	1,436,828	$	1,469,492	$	32,664

	Condensed Consolidated Statement of Operations
	For the Three Months Ended March 31, 2018
			New U.S. GAAP		Attributed to the
	Previous U.S. GAAP		(As Reported)		New Revenue Standard
Total revenue	$	525,369	$	537,656	$	12,287
Total cost of revenue		227,965		234,557		6,592
Gross profit		297,404		303,099		5,695
Total operating expense		190,626		190,055		(571)
Income from operations		106,778		113,044		6,266
Interest expense		(9,274)		(9,274)		-
Interest income		862		579		(283)
Income before provision for income taxes		98,366		104,349		5,983
Provision for income taxes		13,429		14,873		1,444
Net income	$	84,937	$	89,476	$	4,539

	Condensed Consolidated Statement of Cash Flows
	For the Three Months Ended March 31, 2018
			New U.S. GAAP		Attributed to the
	Previous U.S. GAAP		(As Reported)		New Revenue Standard
Cash Flows from Operating Activities:
Net income	$	84,937	$	89,476	$	4,539
Adjustments to reconcile net income to net cash provided by operating activities:
Benefit of deferred income taxes		1,088		3,005		1,917
All other adjustments to reconcile net income to net cash provided by operating activities		27,855		27,855		-
Changes in assets and liabilities, net		(78,982)		(85,438)		(6,456)
Net cash provided by operating activities	$	34,898	$	34,898	$	-