XML 56 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table illustrates the adoption impact of ASU 2020-06:

			January 1, 2021
(In thousands)			Prior to adoption						Impact of adoption						As reported
Long-term debt, net			$	2,874,113					$	52,115					$	2,926,228
Deferred income taxes, net (within total liabilities)			220,122						(12,109)						208,013
Additional paid-in capital			872,711						(41,982)						830,729
Retained earnings			1,286,976						1,976						1,288,952

The following table illustrates the adoption impact of Topic 326:

			January 1, 2020
(In thousands)			Prior to Adoption						Impact of Topic 326						As Reported
Allowance for accounts receivable1			$	52,274					$	11,577					$	63,851
Deferred income taxes, net (within total assets)			$	12,833					$	570					$	13,403
Deferred income taxes, net (within total liabilities)			$	218,740					$	(2,230)					$	216,510
Retained earnings			$	1,539,201					$	(8,587)					$	1,530,614
Non-controlling interest			$	9,575					$	(190)					$	9,385

1 This impact does not reflect the economic disruption resulting from the COVID-19 pandemic since it occurred subsequent to January 1, 2020.

The following table provides a brief description of recent accounting pronouncements not yet adopted and their anticipated impact on our financial statements:

Standard

Description

Date/Method of Adoption

Effect on financial statements or other significant matters

Not Yet Adopted as of December 31, 2021

ASU 2021-08, Business Combinations

This standard requires acquirers within the scope of Subtopic 805-10 Business Combinations to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. This will generally result in an acquirer recognizing and measuring acquired contract asset and liabilities consistent with how they were recognized and measured in an acquiree’s financial statements if they were prepared in accordance with GAAP. Previously, contract assets and contract liabilities acquired were recognized at their fair value on the acquisition date.

Effective for fiscal years beginning after December 15, 2022.

The Company will early adopt this ASU effective January 1, 2022. Adoption will not have any material effect on the consolidated financial statements and will be accounted for prospectively for business combinations in the scope of ASC 805.

ASU 2020–04, Reference Rate Reform and ASU 2021-01, Reference Rate Reform: Scope

These standards provide optional guidance for a limited period of time to ease the potential financial reporting burden in accounting for (or recognizing the effects of) the discontinuation of LIBOR resulting from reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts and other transactions impacted by reference rate reform. If certain criteria are met, an entity will not be required to remeasure or reassess contracts impacted by reference rate reform.

Election is available through December 31, 2022.

The Company is currently evaluating the implications of these amendments to its current efforts for reference rate reform implementation and any impact the adoption of these ASUs would have on its financial condition and results of operations. While the Company has not yet determined if and when it will adopt these standards, the adoption of such standards is not expected to have a material effect on the Company’s consolidated financial statements.

Estimated Useful Lives

Depreciation and amortization for all other property, equipment and capitalized software is primarily computed using the straight-line method over the estimated useful lives shown below.

			Estimated Useful Lives
Furniture, fixtures and equipment			3 to 5 years
Internal-use computer software			1.5 to 5 years
Computer software			3 years

Property, equipment and capitalized software, net consist of the following:

			December 31,
(In thousands)			2021						2020
Furniture, fixtures and equipment			$	84,361					$	87,111
Computer software, including internal-use software			509,039						463,614
Leasehold improvements			25,208						32,111
Construction in progress			19,016						7,910
Total			637,624						590,746
Less: accumulated depreciation			(458,093)						(402,406)
Total property, equipment and capitalized software, net			$	179,531					$	188,340

Schedule of Internal-Use Software

Below are the amounts of internal-use computer software capitalized within property, equipment and capitalized software and the related amortization expense incurred on all internal-use computer software during the years ended December 31:

(in thousands)			2021						2020						2019
Gross amounts capitalized for internal-use computer software (including construction-in-process)			$	77,808					$	58,881					$	74,432
Amounts expensed for amortization of internal-use computer software			$	74,189					$	72,363					$	57,821

Schedule of Capitalized Contract Cost

As of December 31, 2021, the Company had the following costs capitalized with respect to cloud computing arrangements on the consolidated balance sheet:

			Year Ended December 31,
(in thousands)			2021						2020
Gross cloud computing costs (inclusive of in-process amounts)			$	10,269					$	6,360
Accumulated amortization			2,529						387
Net cloud computing costs			$	7,740					$	5,973
Included in prepaid expenses and other current assets			$	3,369					$	4,570
Included in other assets			$	4,371					$	1,403

Schedule of Net Earnings Attributable to Shareholders and Reconciliation of Basic and Diluted Shares

The following table summarizes net income (loss) attributable to shareholders and reconciles basic and diluted shares outstanding used in the earnings per share computations:

			Year ended December 31,
(In thousands)			2021						2020						2019
Net income (loss) attributable to shareholders			$	137					$	(243,638)					$	99,006
Weighted average common shares outstanding – Basic			44,718						43,842						43,316
Dilutive impact of share-based compensation awards1			594						—						453
Weighted average common shares outstanding – Diluted			45,312						43,842						43,769

1 Due to the Company’s net loss position for the year ended December 31, 2020, 0.5 million incremental shares that would otherwise have been dilutive, are excluded from the table above as the effect of including those shares would be anti-dilutive.

For the years ended December 31, 2021, 2020 and 2019, an immaterial number of outstanding share-based compensation awards were excluded from the computation of diluted earnings per share under the treasury stock method, as the effect of including these awards would be anti-dilutive.

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost capitalized in obtaining or fulfilling contract with customer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 340
-SubTopic 40
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123353750&loc=SL49131252-203054

+ Details

Name:	us-gaap_CapitalizedContractCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

Name:	us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124437754&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=124437754&loc=d3e725-108305

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

+ Details

Name:	us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfWeightedAverageNumberOfSharesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration