Significant Accounting Policies Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

The impact of adoption of ASC 606 to the Company’s condensed consolidated statements of income and balance sheets are as follows:



	Three months ended March 31, 2018
	(in thousands, except per share amounts)
	As Reported		Balances without adoption of ASC 606		Effect of Change Higher/(Lower)
Total net revenues	$	697,192	$	707,324	$	(10,132	)
Total cost of net revenues	108,286		108,126		160
Gross profit	588,906		599,198		(10,292		)
Total operating expenses	423,343		426,684		(3,341		)
Income from operations	165,563		172,514		(6,951		)
Net income	$	144,259	$	150,902	$	(6,643	)
Basic earnings per share	$	1.04	$	1.08	$	(0.04	)
Diluted earnings per share	$	0.99	$	1.03	$	(0.04	)



	As of March 31, 2018
	(in thousands)
	As Reported		Balances without adoption of ASC 606		Effect of Change Higher/(Lower)

Contract assets *	$	7,307	$	—	$	7,307
Contract acquisition costs *	83,806		14,233		69,573
Deferred tax assets, net	114,277		144,137		(29,860		)
Total assets	$	5,137,477	$	5,090,457	$	47,020

Deferred tax liabilities	$	60,025	$	46,946	$	13,079
Current portion of deferred revenues	1,204,199		1,255,308		(51,109		)
Long-term portion of deferred revenues	480,985		519,683		(38,698		)
Total liabilities	$	4,614,099	$	4,690,827	$	(76,728	)

Stockholders' Equity:
Retained earnings	$	3,786,521	$	3,662,773	$	123,748

* Included within Prepaid and other current assets and Other assets on the accompanying condensed consolidated balance sheet.

Conforming changes have been made for all periods presented, as follows (in thousands):



Three Months Ended March 31, 2017
As Previously Reported			Amount Reclassified			As Reported Herein
Revenues:						Revenues:
Software as a service	$	38,730	$	30,360		Subscription	$	69,090
Product and licenses ⁽¹⁾	191,597		(20,698		)	Product and license	170,899
License updates and maintenance ⁽²⁾	402,755		19,933			Support and services ⁽³⁾	422,688
Professional services	29,595		(29,595		)
Total net revenues	$	662,677	$	—		Total net revenues	$	662,677


(1)	Product and licenses as previously reported included revenue from CSPs and on-premise subscriptions that are now included in Subscription. Current period presentation only includes revenues from perpetual offerings and hardware.


(2)	License updates and maintenance as previously reported included revenue from CSPs and on-premise license updates and maintenance that are now included in Subscription.


(3)	Support and services includes revenues from license updates and maintenance from perpetual offerings as well as professional services.