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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2015
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Mar. 31, 2014
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| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $ 1,560us-gaap_NetIncomeLoss | $ 8,393us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 6,353us-gaap_DepreciationDepletionAndAmortization | 4,422us-gaap_DepreciationDepletionAndAmortization |
| Amortization of investment premiums | 1,938us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments | 2,513us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments |
| Stock-based compensation | 18,880us-gaap_ShareBasedCompensation | 12,930us-gaap_ShareBasedCompensation |
| Excess tax benefit from stock-based compensation | 0us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities | (579)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities |
| Other non-cash items—net | 159us-gaap_OtherNoncashIncomeExpense | (67)us-gaap_OtherNoncashIncomeExpense |
| Changes in operating assets and liabilities: | ||
| Accounts receivable—net | 23,621us-gaap_IncreaseDecreaseInAccountsReceivable | 19,119us-gaap_IncreaseDecreaseInAccountsReceivable |
| Inventory | (6,296)us-gaap_IncreaseDecreaseInInventories | 3,326us-gaap_IncreaseDecreaseInInventories |
| Deferred tax assets | (7,918)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes | 24us-gaap_IncreaseDecreaseInDeferredIncomeTaxes |
| Prepaid expenses and other current assets | (1,203)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (287)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Other assets | 507us-gaap_IncreaseDecreaseInOtherOperatingAssets | 45us-gaap_IncreaseDecreaseInOtherOperatingAssets |
| Accounts payable | (11,305)us-gaap_IncreaseDecreaseInAccountsPayable | (6,042)us-gaap_IncreaseDecreaseInAccountsPayable |
| Accrued liabilities | (3,450)us-gaap_IncreaseDecreaseInAccruedLiabilities | (170)us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Accrued payroll and compensation | (1,569)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities | 16,155us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities |
| Other liabilities | (3,149)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities | 1,071us-gaap_IncreaseDecreaseInOtherOperatingLiabilities |
| Deferred revenue | 40,696us-gaap_IncreaseDecreaseInDeferredRevenue | 18,469us-gaap_IncreaseDecreaseInDeferredRevenue |
| Income taxes payable | 5,795us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable | (18,420)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable |
| Net cash provided by operating activities | 64,619us-gaap_NetCashProvidedByUsedInOperatingActivities | 60,902us-gaap_NetCashProvidedByUsedInOperatingActivities |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of investments | (120,991)us-gaap_PaymentsToAcquireInvestments | (120,590)us-gaap_PaymentsToAcquireInvestments |
| Sales of investments | 6,679us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities | 10,920us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities |
| Maturities of investments | 135,363us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities | 118,641us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities |
| Purchases of property and equipment | (4,927)us-gaap_PaymentsToAcquireProductiveAssets | (11,318)us-gaap_PaymentsToAcquireProductiveAssets |
| Payments made in connection with business acquisitions—net of cash acquired | 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (17)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
| Net cash provided by (used in) investing activities | 16,124us-gaap_NetCashProvidedByUsedInInvestingActivities | (2,364)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of common stock | 28,955us-gaap_ProceedsFromIssuanceOfCommonStock | 14,471us-gaap_ProceedsFromIssuanceOfCommonStock |
| Taxes paid related to net share settlement of equity awards | (6,600)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation | (3,633)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation |
| Excess tax benefit from stock-based compensation | 0us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities | 579us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities |
| Repurchase and retirement of common stock | 0us-gaap_PaymentsForRepurchaseOfCommonStock | (12,305)us-gaap_PaymentsForRepurchaseOfCommonStock |
| Net cash provided by (used in) financing activities | 22,355us-gaap_NetCashProvidedByUsedInFinancingActivities | (888)us-gaap_NetCashProvidedByUsedInFinancingActivities |
| EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS | 0us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | (555)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 103,098us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 57,095us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| CASH AND CASH EQUIVALENTS—Beginning of period | 283,254us-gaap_CashAndCashEquivalentsAtCarryingValue | 115,873us-gaap_CashAndCashEquivalentsAtCarryingValue |
| CASH AND CASH EQUIVALENTS—End of period | 386,352us-gaap_CashAndCashEquivalentsAtCarryingValue | 172,968us-gaap_CashAndCashEquivalentsAtCarryingValue |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid for income taxes—net | 6,498us-gaap_IncomeTaxesPaidNet | 22,136us-gaap_IncomeTaxesPaidNet |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| Transfers of evaluation units from inventory to property and equipment | 3,869ftnt_TransfersofEvaluationUnitsfromInventorytoPropertyandEquipment | 2,307ftnt_TransfersofEvaluationUnitsfromInventorytoPropertyandEquipment |
| Liability for purchase of property and equipment and asset retirement obligations | 2,140us-gaap_CapitalExpendituresIncurredButNotYetPaid | 5,844us-gaap_CapitalExpendituresIncurredButNotYetPaid |
| Liability incurred for repurchase of common stock | $ 0ftnt_LiabilityIncurredforRepurchaseofCommonStock | $ 657ftnt_LiabilityIncurredforRepurchaseofCommonStock |
| X | ||||||||||
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- Definition
Liability Incurred for Repurchase of Common Stock No definition available.
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- Definition
Transfers of Evaluation Units from Inventory to Property and Equipment No definition available.
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- Definition
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in other liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current liabilities, other noncurrent liabilities, or a combination of other current and noncurrent liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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