Revenue (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Total receivables represent amounts billed and amounts earned that are to be billed in the future (i.e., accrued receivables). Included in accrued receivables are services and SaaS and PaaS revenues earned in the current period but billed in the following period and amounts due under multi-year software license arrangements with extended payment terms for which the Company has an unconditional right to invoice and receive payment in the future.


(in thousands)	June 30, 2018			December 31, 2017
Billed Receivables	$	168,921		$	240,137
Allowance for doubtful accounts		(3,459	)		(4,799	)

Billed Receivables, net	$	165,462		$	235,338

Accrued receivables		319,476			27,507
Significant financing component		(31,549	)		—

Total accrued receivables, net		287,927			27,507
Less current accrued receivables		117,323			27,507
Less current significant financing component		(9,593	)		—

Total long-term accrued receivables, net	$	180,197		$	—

Total receivables, net	$	453,389		$	262,845

Changes in Deferred Revenue

Changes in deferred revenue were as follows:


(in thousands)	Deferred Revenue
Balance, January 1, 2018	$	145,344
Deferral of revenue		102,160
Recognition of deferred revenue		(91,390	)
Foreign currency translation		(2,877	)

Balance, June 30, 2018	$	153,237

Financial Statement Effect of Applying ASC 606

The financial statement line items affected by adoption of ASC 606 are as follows:


	June 30, 2018
(in thousands)	As Reported		Without application of ASC 606		Effect of Change Higher / (Lower)
Assets
Receivables, net of allowances	$	273,192	$	199,145	$	74,047
Recoverable income taxes		7,903		6,375		1,528
Prepaid expenses		28,370		29,111		(741	)
Other current assets		21,488		21,303		185
Accrued receivables, net		180,197		—		180,197
Deferred income taxes, net		25,181		66,926		(41,745	)
Other noncurrent assets		57,631		41,324		16,307
Liabilities
Deferred revenue		102,333		120,253		(17,920	)
Income taxes payable		3,137		2,081		1,056
Other current liabilities		58,615		58,850		(235	)
Deferred income taxes, net		25,171		6,448		18,723
Stockholders’ equity
Total stockholders’ equity		940,715		712,576		228,139


	For the Three Months Ended June 30, 2018
(in thousands)	As Reported			Without application of ASC 606			Effect of Change Higher / (Lower)
Revenues
Software as a service and platform as a service	$	113,600		$	112,959		$	641
License		45,555			50,815			(5,260	)
Maintenance		55,048			56,243			(1,195	)
Services		20,792			20,725			67
Operating expenses
Selling and marketing		33,160			31,923			1,237
Other income (expense)
Interest income		2,742			192			2,550
Other, net		(1,677	)		(557	)		(1,120	)
Income tax provision
Income tax expense (benefit)		3,764			4,609			(845	)


	For the Six Months Ended June 30, 2018
(in thousands)	As Reported			Without application of ASC 606			Effect of Change Higher / (Lower)
Revenues
Software as a service and platform as a service	$	217,880		$	218,133		$	(253	)
License		73,601			94,736			(21,135	)
Maintenance		111,707			112,014			(307	)
Services		41,117			40,754			363
Operating expenses
Selling and marketing		65,053			62,269			2,784
Other income (expense)
Interest income		5,486			371			5,115
Other, net		(1,732	)		(1,341	)		(391	)
Income tax provision
Income tax expense (benefit)		(188	)		2,566			(2,754	)