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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data | 17. Quarterly Financial Data (unaudited)
|  | Quarter Ended |  |  | Year Ended |
|  | March 31, 2016 |  |  | June 30, 2016 |  |  | September 30, 2016 |  |  | December 31, 2016 |  |  | December 31, 2016 |
(in thousands, except per share amounts) |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
License |  | $ | 37,423 |  |  | $ | 33,510 |  |  | $ | 43,256 |  |  | $ | 159,277 |  |  | $ | 273,466 |
Maintenance |  |  | 57,331 |  |  |  | 60,332 |  |  |  | 57,741 |  |  |  | 58,072 |  |  |  | 233,476 |
Services |  |  | 19,576 |  |  |  | 23,823 |  |  |  | 19,809 |  |  |  | 24,262 |  |  |  | 87,470 |
Hosting |  |  | 111,736 |  |  |  | 102,265 |  |  |  | 96,169 |  |  |  | 101,119 |  |  |  | 411,289 |
Total revenues |  |  | 226,066 |  |  |  | 219,930 |  |  |  | 216,975 |  |  |  | 342,730 |  |  |  | 1,005,701 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of license (1) |  |  | 5,439 |  |  |  | 4,610 |  |  |  | 5,253 |  |  |  | 7,043 |  |  |  | 22,345 |
Cost of maintenance, services and hosting (1) (2) |  |  | 112,995 |  |  |  | 110,774 |  |  |  | 95,014 |  |  |  | 103,786 |  |  |  | 422,569 |
Research and development (2) |  |  | 43,604 |  |  |  | 46,421 |  |  |  | 42,210 |  |  |  | 37,665 |  |  |  | 169,900 |
Selling and marketing (2) |  |  | 29,992 |  |  |  | 28,795 |  |  |  | 29,874 |  |  |  | 29,421 |  |  |  | 118,082 |
General and administrative (2) |  |  | 26,068 |  |  |  | 34,520 |  |  |  | 31,390 |  |  |  | 21,639 |  |  |  | 113,617 |
Gain on sale of CFS assets |  |  | (151,952 | ) |  |  | — |  |  |  | 489 |  |  |  | — |  |  |  | (151,463 | )
Depreciation and amortization |  |  | 23,208 |  |  |  | 21,382 |  |  |  | 22,098 |  |  |  | 22,833 |  |  |  | 89,521 |
Total operating expenses (2) |  |  | 89,354 |  |  |  | 246,502 |  |  |  | 226,328 |  |  |  | 222,387 |  |  |  | 784,571 |
Operating income (2) |  |  | 136,712 |  |  |  | (26,572 | ) |  |  | (9,353 | ) |  |  | 120,343 |  |  |  | 221,130 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (10,414 | ) |  |  | (9,715 | ) |  |  | (9,838 | ) |  |  | (10,217 | ) |  |  | (40,184 | )
Interest income |  |  | 150 |  |  |  | 121 |  |  |  | 145 |  |  |  | 114 |  |  |  | 530 |
Other, net |  |  | (334 | ) |  |  | 2,023 |  |  |  | 2,794 |  |  |  | (378 | ) |  |  | 4,105 |
Total other income (expense) |  |  | (10,598 | ) |  |  | (7,571 | ) |  |  | (6,899 | ) |  |  | (10,481 | ) |  |  | (35,549 | )
Income (loss) before income taxes (2) |  |  | 126,114 |  |  |  | (34,143 | ) |  |  | (16,252 | ) |  |  | 109,862 |  |  |  | 185,581 |
Income tax expense (benefit) (2) |  |  | 36,970 |  |  |  | (17,669 | ) |  |  | (6,426 | ) |  |  | 43,171 |  |  |  | 56,046 |
Net income (loss) (2) |  | $ | 89,144 |  |  | $ | (16,474 | ) |  | $ | (9,826 | ) |  | $ | 66,691 |  |  | $ | 129,535 |
Earnings (loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.75 |  |  | $ | (0.14 | ) |  | $ | (0.08 | ) |  | $ | 0.57 |  |  | $ | 1.10 |
Diluted |  | $ | 0.74 |  |  | $ | (0.14 | ) |  | $ | (0.08 | ) |  | $ | 0.56 |  |  | $ | 1.09 |
(1) | The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.
(2) | As previously discussed in Note 1, Nature of Business and Summary of Significant Accounting Policies, the Company adopted ASU 2016-09 during the year ended December 31, 2016. The Company elected to early adopt ASU 2016-09 in the third quarter of 2016, which requires it to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. The impact of the adoption to the Company’s previously reported quarterly results for the quarters ended March 31 and June 30, 2016 are reflected in the table above.
|  | Quarter Ended |  |  | Year Ended |
|  | March 31, 2015 |  |  | June 30, 2015 |  |  | September 30, 2015 |  |  | December 31, 2015 |  |  | December 31, 2015 |
(in thousands, except per share amounts) |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
License |  | $ | 39,577 |  |  | $ | 67,161 |  |  | $ | 50,237 |  |  | $ | 94,230 |  |  | $ | 251,205 |
Maintenance |  |  | 59,492 |  |  |  | 60,141 |  |  |  | 59,262 |  |  |  | 63,000 |  |  |  | 241,895 |
Services |  |  | 23,497 |  |  |  | 23,110 |  |  |  | 25,842 |  |  |  | 34,371 |  |  |  | 106,820 |
Hosting |  |  | 110,251 |  |  |  | 115,410 |  |  |  | 103,360 |  |  |  | 117,036 |  |  |  | 446,057 |
Total revenues |  |  | 232,817 |  |  |  | 265,822 |  |  |  | 238,701 |  |  |  | 308,637 |  |  |  | 1,045,977 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of license (1) |  |  | 6,109 |  |  |  | 5,939 |  |  |  | 5,387 |  |  |  | 5,810 |  |  |  | 23,245 |
Cost of maintenance, services and hosting (1) |  |  | 113,013 |  |  |  | 120,484 |  |  |  | 104,272 |  |  |  | 111,285 |  |  |  | 449,054 |
Research and development |  |  | 37,091 |  |  |  | 39,425 |  |  |  | 36,123 |  |  |  | 33,285 |  |  |  | 145,924 |
Selling and marketing |  |  | 28,911 |  |  |  | 31,298 |  |  |  | 28,451 |  |  |  | 40,747 |  |  |  | 129,407 |
General and administrative |  |  | 21,575 |  |  |  | 25,008 |  |  |  | 20,284 |  |  |  | 20,552 |  |  |  | 87,419 |
Depreciation and amortization |  |  | 19,693 |  |  |  | 20,004 |  |  |  | 20,298 |  |  |  | 22,985 |  |  |  | 82,980 |
Total operating expenses |  |  | 226,392 |  |  |  | 242,158 |  |  |  | 214,815 |  |  |  | 234,664 |  |  |  | 918,029 |
Operating income |  |  | 6,425 |  |  |  | 23,664 |  |  |  | 23,886 |  |  |  | 73,973 |  |  |  | 127,948 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (10,941 | ) |  |  | (10,505 | ) |  |  | (9,728 | ) |  |  | (10,198 | ) |  |  | (41,372 | )
Interest income |  |  | 102 |  |  |  | 58 |  |  |  | 94 |  |  |  | 132 |  |  |  | 386 |
Other, net |  |  | 3,722 |  |  |  | 19,659 |  |  |  | 4,314 |  |  |  | (1,284 | ) |  |  | 26,411 |
Total other income (expense) |  |  | (7,117 | ) |  |  | 9,212 |  |  |  | (5,320 | ) |  |  | (11,350 | ) |  |  | (14,575 | )
Income (loss) before income taxes |  |  | (692 | ) |  |  | 32,876 |  |  |  | 18,566 |  |  |  | 62,623 |  |  |  | 113,373 |
Income tax expense (benefit) |  |  | (530 | ) |  |  | 5,825 |  |  |  | 3,786 |  |  |  | 18,856 |  |  |  | 27,937 |
Net income (loss) |  | $ | (162 | ) |  | $ | 27,051 |  |  | $ | 14,780 |  |  | $ | 43,767 |  |  | $ | 85,436 |
Earnings (loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.00 |  |  | $ | 0.23 |  |  | $ | 0.13 |  |  | $ | 0.37 |  |  | $ | 0.73 |
Diluted |  | $ | 0.00 |  |  | $ | 0.23 |  |  | $ | 0.12 |  |  | $ | 0.36 |  |  | $ | 0.72 |
(1) | The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.

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