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Basis of Presentation (Tables) | 3 Months Ended
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Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | As a result, certain prior period comparative figures in the Condensed Consolidated Statements of Income for the three months ended September 30, 2017 have been adjusted to conform to current period presentation as follows:
| Three Months Ended September 30, 2017
| As Previously Reported |  | Adjustments |  | As Adjusted
Cost of revenues - Cloud services | $ | 84,330 |  |  | $ | (196 | ) |  | $ | 84,134 |
Cost of revenues - Customer Support | 32,791 |  |  | (21 | ) |  | 32,770 |
Cost of revenues - Professional service and other | 59,459 |  |  | (31 | ) |  | 59,428 |
Total cost of revenues | 223,500 |  |  | (248 | ) |  | 223,252 |
Gross profit | 417,187 |  |  | 248 |  |  | 417,435 |
Research and Development | 77,629 |  |  | (55 | ) |  | 77,574 |
Sales and Marketing | 122,822 |  |  | (207 | ) |  | 122,615 |
General and administrative | 48,915 |  |  | (13 | ) |  | 48,902 |
Total operating expense | 330,064 |  |  | (275 | ) |  | 329,789 |
Income from operations | 87,123 |  |  | 523 |  |  | 87,646 |
Interest and other related expense, net | (33,288 | ) |  | (523 | ) |  | (33,811 | )
As a result, certain prior period comparative figures in the Condensed Consolidated Statements of Cash Flows have been adjusted to conform to current period presentation as follows:
| Three Months Ended September 30, 2017
| As Previously Reported |  | Adjustments |  | As Adjusted
Net cash provided by operating activities | $ | 67,102 |  |  | $ | 144 |  |  | $ | 67,246 |
Cash, cash equivalents and restricted cash at beginning of period | 443,357 |  |  | 2,853 |  |  | 446,210 |
Increase (decrease) in cash, cash equivalents and restricted cash during the period | (66,967 | ) |  | 144 |  |  | (66,823 | )
Cash, cash equivalents and restricted cash at end of period | $ | 376,390 |  |  | $ | 2,997 |  |  | $ | 379,387 |
The following tables summarize the impacts of adopting Topic 606 on our condensed consolidated balance sheets, statements of income and cash flows, all as compared to proforma balances illustrating if ASC Topic 605 "Revenue Recognition" (Topic 605) had still been in effect. Financial statement line items that were not impacted by the adoption of Topic 606 have been excluded from the tables below. Condensed Consolidated Balance Sheet
| As of September 30, 2018
| As reported under Topic 606 |  | Adjustments |  | Proforma as if Topic 605 was in effect
ASSETS |  |  |  |  |
Contract assets | $ | 8,767 |  |  | $ | (8,767 | ) |  | $ | — |
Prepaid expenses and other current assets | 80,624 |  |  | 6,481 |  |  | 87,105 |
Total current assets | 1,325,106 |  |  | (2,286 | ) |  | 1,322,820 |
Long-term contract assets | 12,041 |  |  | (12,041 | ) |  | — |
Deferred tax assets | 1,106,377 |  |  | 8,004 |  |  | 1,114,381 |
Other assets | 116,536 |  |  | (179 | ) |  | 116,357 |
Total assets | $ | 7,619,048 |  |  | $ | (6,502 | ) |  | $ | 7,612,546 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 252,079 |  |  | $ | (2 | ) |  | $ | 252,077 |
Deferred revenues | 582,139 |  |  | 11,011 |  |  | 593,150 |
Total current liabilities | 875,273 |  |  | 11,009 |  |  | 886,282 |
Long-term liabilities: |  |  |  |  |  |
Deferred revenues | 43,585 |  |  | 20,000 |  |  | 63,585 |
Deferred tax liabilities | 74,328 |  |  | (3,934 | ) |  | 70,394 |
Total long-term liabilities | 3,016,745 |  |  | 16,066 |  |  | 3,032,811 |
Shareholders’ equity: |  |  |  |  |  |
Accumulated other comprehensive income | 32,256 |  |  | 462 |  |  | 32,718 |
Retained earnings | 1,993,099 |  |  | (34,039 | ) |  | 1,959,060 |
Total OpenText shareholders' equity | 3,725,907 |  |  | (33,577 | ) |  | 3,692,330 |
Non-controlling interests | 1,123 |  |  | — |  |  | 1,123 |
Total shareholders’ equity | 3,727,030 |  |  | (33,577 | ) |  | 3,693,453 |
Total liabilities and shareholders’ equity | $ | 7,619,048 |  |  | $ | (6,502 | ) |  | $ | 7,612,546 |
Condensed Consolidated Statements of Income
| Three Months Ended September 30, 2018
| As reported under Topic 606 |  | Adjustments |  | Proforma as if Topic 605 was in effect
Revenues: |  |  |  |  |
License | $ | 76,887 |  |  | $ | (2,601 | ) |  | $ | 74,286 |
Cloud services and subscriptions | 208,083 |  |  | (535 | ) |  | 207,548 |
Customer support | 311,551 |  |  | (583 | ) |  | 310,968 |
Professional service and other | 70,636 |  |  | (54 | ) |  | 70,582 |
Total revenues | 667,157 |  |  | (3,773 | ) |  | 663,384 |
Cost of revenues: |  |  |  |  |
Cloud services and subscriptions | 87,703 |  |  | 467 |  |  | 88,170 |
Total cost of revenues | 226,313 |  |  | 467 |  |  | 226,780 |
Gross profit | 440,844 |  |  | (4,240 | ) |  | 436,604 |
Operating expenses: |  |  |  |  |
Sales and marketing | 120,182 |  |  | 1,107 |  |  | 121,289 |
Total operating expenses | 341,617 |  |  | 1,107 |  |  | 342,724 |
Income from operations | 99,227 |  |  | (5,347 | ) |  | 93,880 |
Interest and other related expense, net | (34,531 | ) |  | (159 | ) |  | (34,690 | )
Income before income taxes | 66,218 |  |  | (5,506 | ) |  | 60,712 |
Provision for (recovery of) income taxes | 29,850 |  |  | (1,253 | ) |  | 28,597 |
Net income for the period | $ | 36,368 |  |  | $ | (4,253 | ) |  | $ | 32,115 |
Condensed Consolidated Statement of Cash Flows
| Three Months Ended September 30, 2018
| As reported under Topic 606 |  | Adjustments |  | Proforma as if Topic 605 was in effect
Cash flows from operating activities: |  |  |  |  |
Net income for the period | $ | 36,368 |  |  | $ | (4,253 | ) |  | $ | 32,115 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Deferred taxes | 7,769 |  |  | (1,293 | ) |  | 6,476 |
Changes in operating assets and liabilities: |  |  |  |  |
Accounts receivable | 73,875 |  |  | (2,281 | ) |  | 71,594 |
Contract assets | (5,346 | ) |  | 5,346 |  |  | — |
Prepaid expenses and other current assets | 9,732 |  |  | 1,213 |  |  | 10,945 |
Income taxes and deferred charges and credits | 12,561 |  |  | 36 |  |  | 12,597 |
Accounts payable and accrued liabilities | (40,001 | ) |  | 75 |  |  | (39,926 | )
Deferred revenue | (57,403 | ) |  | 703 |  |  | (56,700 | )
Other assets | 2,444 |  |  | 454 |  |  | 2,898 |
Net cash provided by operating activities | $ | 171,401 |  |  | $ | — |  |  | $ | 171,401 |

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