Nature of Business and Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of newly-adopted accounting pronouncements

The following table details the changes to the consolidated balance sheet as of December 31, 2017 as a result of the retrospective adoption of the new revenue recognition standard (in thousands):

	As Previously Reported			Revenue Recognition Standard Adjustments			As Revised
ASSETS
Current assets:
Accounts receivable	$	459,127		$	2,330		$	461,457
Prepaid expenses and other current assets	137,809			35,044			172,853
Total current assets	1,308,872			37,374			1,346,246
Deferred income tax assets	51,069			(14,838		)	36,231
Other assets	112,829			23,536			136,365
Total assets	4,602,844			46,072			4,648,916
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Deferred revenue	$	77,705		$	(7,210	)	$	70,495
Total current liabilities	463,904			(7,210		)	456,694
Deferred revenue	6,839			(777		)	6,062
Deferred income tax liabilities	15,510			2,313			17,823
Total liabilities	1,292,121			(5,674		)	1,286,447
Stockholders' equity:
Accumulated deficit	(742,408		)	51,746			(690,662		)
Total stockholders' equity	3,310,723			51,746			3,362,469
Total liabilities and stockholders' equity	4,602,844			46,072			4,648,916

The following table details the changes to the consolidated statement of income for the three months ended March 31, 2017 as a result of the retrospective adoption of the new revenue recognition standard (in thousands, except per share data):

	As Previously Reported		Revenue Recognition Standard Adjustments			As Revised
Revenue	$	609,237	$	(8,944	)	$	600,293
Costs and operating expenses:
Cost of revenue (exclusive of amortization of acquired intangible assets)	205,703		24			205,727
Sales and marketing	113,566		926			114,492
Total costs and operating expenses	494,009		950			494,959
Income from operations	115,228		(9,894		)	105,334
Income before provision for income taxes	114,571		(9,894		)	104,677
Provision for income taxes	33,641		(3,547		)	30,094
Net income	80,930		(6,347		)	74,583
Net income per share:
Basic	$	0.47	$	(0.04	)	$	0.43
Diluted	$	0.46	$	(0.04	)	$	0.43

The statement of comprehensive income for the three months ended March 31, 2017 was also impacted by the adjustments to net income of $6.3 million.

The following table details the changes to the consolidated statement of cash flows for the three months ended March 31, 2017 as a result of the retrospective adoption of the new revenue recognition and statement of cash flow standards (in thousands):

	As Previously Reported			Revenue Recognition Standard Adjustments			Cash Flow Standard Adjustments		As Revised
Cash flows from operating activities:
Net income	$	80,930		$	(6,347	)	$	—	$	74,583
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for deferred income taxes	31,972			(3,547		)	—		28,425
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable	(30,146		)	10,270			—		(19,876		)
Prepaid expenses and other current assets	(47,065		)	(107		)	—		(47,172		)
Deferred revenue	10,876			(833		)	—		10,043
Other non-current assets and liabilities	(13,512		)	564			—		(12,948		)
Net cash provided by operating activities	142,618			—			—		142,618
Cash flows from investing activities:
Other non-current assets and liabilities	(1,230		)	—			895		(335		)
Net cash provided by investing activities	139,411			—			895		140,306
Effects of exchange rate changes on cash, cash equivalents and restricted cash	4,979			—			40		5,019
Net increase in cash, and cash equivalents and restricted cash	198,150			—			935		199,085
Cash, cash equivalents and restricted cash at beginning of period	324,169			—			457		324,626
Cash, cash equivalents and restricted cash at end of period	522,319			—			1,392		523,711