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REVENUE RECOGNITION (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Assets and Liabilities Associated with Contracts from Customers

The following table provides information about assets and liabilities associated with our contracts from customers (in thousands):

		As of  September 30, 2018
Accounts receivable		$	43,207
Short-term unbilled receivables			1,621
Long-term unbilled receivables			778
Short-term deferred revenue			69,143
Long-term deferred revenue			40,684

Summary of Significant Changes in Unbilled Receivables and Deferred Liabilities Balances

Significant changes in the unbilled receivables and deferred liabilities balances during the period are as follows (in thousands):

		Nine Months Ended September 30, 2018
		Unbilled Receivables Increase (Decrease)				Deferred Revenue (Increase) Decrease
Balance at December 31, 2017		$	70			$	(38,883	)
Adoption of revenue standard on January 1, 2018			307				(21,307	)
Adjusted balance on January 1, 2018			377				(60,190	)
Revenue recognized that was previously included in deferred revenue			-				46,016
Increases due to cash received			-				(99,940	)
Cumulative catch-up adjustment arising from changes in estimates of    transaction price			-				4,287
Unbilled receivables recognized			2,022				-
Transferred to receivables from unbilled receivables			-				-
Net change			2,022				(49,637	)
Balance at September 30, 2018		$	2,399			$	(109,827	)

Revenue from Contracts with Customers - ASU No. 2014-09 [Member]

Summary of Impacts of Adopting Topic 606 on Consolidated Financial Statements

The following tables summarize the impacts of adopting Topic 606 on the Company’s consolidated financial statements for the three and nine months ended September 30, 2018.

i. Consolidated Balance Sheet (in thousands)

		Impact of changes in accounting policies
September 30, 2018		As reported				Adjustment				Balances without adoption of Topic 606
ASSETS
Other assets (current and non-current)		$	51,094			$	(2,049	)		$	49,045
Deferred income taxes			13,910				(13,640	)			270
TOTAL ASSETS			883,744				(15,689	)			868,055
LIABILITIES AND SHAREHOLDERS' EQUITY
Deferred revenue (current and non-current)			109,827				(79,226	)			30,601
Retained earnings			112,337				63,537				175,874
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			883,744				(15,689	)			868,055

ii. Consolidated Statements of Income (in thousands)

		Impact of changes in accounting policies
Three Months Ended September 30, 2018		As reported				Adjustment				Balances without adoption of Topic 606
REVENUE		$	77,550			$	14,054			$	91,604
Gross margin			61,427				14,054				75,481
OPERATING INCOME			26,032				14,054				40,086
INCOME BEFORE INCOME TAXES			28,143				14,054				42,197
INCOME TAX EXPENSE			(5,325	)			(2,670	)			(7,995	)
NET INCOME			22,818				11,384				34,202

		Impact of changes in accounting policies
Nine Months Ended September 30, 2018		As reported				Adjustment				Balances without adoption of Topic 606
REVENUE		$	177,271			$	56,177			$	233,448
Gross margin			142,055				56,177				198,232
OPERATING INCOME			41,462				56,177				97,639
INCOME BEFORE INCOME TAXES			46,551				56,177				102,728
INCOME TAX EXPENSE			(6,960	)			(10,534	)			(17,494	)
NET INCOME			39,591				45,643				85,234

iii. Consolidated Statement of Cash Flows (in thousands)

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