Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Revenue Disaggregated by Type of Revenue and Geographic Region

The nature, amount, timing and uncertainty of our revenues and how revenues and cash flows are affected by economic factors is most appropriately depicted by type of revenues and by geographic region (using the location of the client as the basis of attributing revenues to the individual regions) as follows (in thousands):

	Quarter Ended
	March 31,
	2019		2018
Cloud and related solutions	$	219,590	$	177,516
Software and services		13,028		11,959
Maintenance		12,175		12,229
Total revenues	$	244,793	$	201,704

	Quarter Ended
	March 31,
	2019		2018
Americas (principally the U.S.)	$	210,729	$	169,903
Europe, Middle East, and Africa		24,626		20,434
Asia Pacific		9,438		11,367
Total revenues	$	244,793	$	201,704

Fair Value Measurements

The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets and liabilities measured at fair value (in thousands):

	March 31, 2019						December 31, 2018
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Cash equivalents:
Money market funds	$	4,030	$	—	$	4,030	$	4,392	$	—	$	4,392
Commercial paper		—		—		—		—		9,078		9,078
Short-term investments:
Corporate debt securities		—		12,456		12,456		—		16,357		16,357
U.S. government agency bonds		—		1,549		1,549		—		3,724		3,724
Asset-backed securities		—		4,328		4,328		—		3,522		3,522
Total	$	4,030	$	18,333	$	22,363	$	4,392	$	32,681	$	37,073

Carrying Value (Par Value for Convertible Debt) and Estimated Fair Value of Debt

We have chosen not to measure our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible debt) and estimated fair value of our debt as of the indicated periods (in thousands):

	March 31, 2019				December 31, 2018
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
2018 Credit Agreement (carrying value including current maturities)	$	142,500	$	142,500	$	144,375	$	144,375
2016 Convertible notes (par value)		230,000		242,363		230,000		228,275