0001086222-20-000025.txt : 20200211 0001086222-20-000025.hdr.sgml : 20200211 20200211160418 ACCESSION NUMBER: 0001086222-20-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20200211 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200211 DATE AS OF CHANGE: 20200211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AKAMAI TECHNOLOGIES INC CENTRAL INDEX KEY: 0001086222 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 043432319 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27275 FILM NUMBER: 20596532 BUSINESS ADDRESS: STREET 1: 145 BROADWAY CITY: CAMBRIDGE STATE: MA ZIP: 02142 BUSINESS PHONE: 6174443000 MAIL ADDRESS: STREET 1: 145 BROADWAY CITY: CAMBRIDGE STATE: MA ZIP: 02142 8-K 1 form8-kq42019.htm 8-K Document
false0001086222 0001086222 2020-02-11 2020-02-11


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report: February 11, 2020
(Date of earliest event reported)

AKAMAI TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)

Delaware
 
0-27275
 
04-3432319
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)

145 Broadway
Cambridge, Massachusetts 02142
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (617) 444-3000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value
AKAM
Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐







Item 2.02 Results of Operations and Financial Condition

On February 11, 2020, Akamai Technologies, Inc. announced its financial results for the fiscal quarter and year ended December 31, 2019. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information provided under this Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit relating to Item 2.02 shall be deemed to be furnished, and not filed:

Exhibit No.
 
Description
99.1
 




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:
February 11, 2020
 
AKAMAI TECHNOLOGIES, INC.
 
 
 
 
 
 
 
/s/ Edward McGowan
 
 
 
Edward McGowan
 
 
 
Chief Financial Officer



 EX-99.1 2 exhibit991-q42019.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts:
Gina Sorice
 
Tom Barth
Media Relations
 
Investor Relations
Akamai Technologies
 
Akamai Technologies
646-320-4107
 
617-274-7130
gsorice@akamai.com
 
tbarth@akamai.com

AKAMAI REPORTS FOURTH QUARTER 2019 AND
FULL-YEAR 2019 FINANCIAL RESULTS

Fourth quarter revenue of $772 million, up 8% year-over-year and up 9% when adjusted for foreign exchange*

Cloud Security Solutions revenue grew 29% year-over-year

GAAP EPS of $0.73, up 28% year-over-year, and non-GAAP EPS* of $1.23, up 15% year-over-year


CAMBRIDGE, Mass. – February 11, 2020 – Akamai Technologies, Inc. (NASDAQ: AKAM), the intelligent edge platform for securing and delivering digital experiences, today reported financial results for the fourth quarter and full-year ended December 31, 2019.

"We were very pleased with our 2019 performance. Both revenue and earnings exceeded our expectations due to the rapid growth of our cloud security business, robust seasonal traffic on our network and our continued focus on operational excellence," said Dr. Tom Leighton, Chief Executive Officer of Akamai. “As a result, we achieved another year of strong revenue growth and operating margin expansion, and we believe that we are well-positioned to achieve our 30% non-GAAP operating margin goal in 2020, as we continue to invest in innovation and new products to drive future growth."

Akamai delivered the following results for the fourth quarter and full-year ended December 31, 2019:

Revenue: Revenue for the fourth quarter was $772 million, an 8% increase over fourth quarter 2018 revenue of $713 million and a 9% increase when adjusted for foreign exchange.* Total revenue for 2019 was $2.894 billion compared to $2.714 billion for 2018, up 7% year-over-year and up 8% when adjusted for foreign exchange.*

Revenue by Division(1):

•
Web Division revenue for the fourth quarter was $420 million, up 9% year-over-year and when adjusted for foreign exchange.* Web Division revenue for 2019 was $1.566 billion, up 8% year-over-year and up 9% when adjusted for foreign exchange.*

•
Media and Carrier Division revenue for the fourth quarter was $353 million, up 8% year-over-year and when adjusted for foreign exchange.* Media and Carrier Division revenue for 2019 was $1.327 billion, up 5% year-over-year and up 6% when adjusted for foreign exchange.*

Revenue from Cloud Security Solutions(2):

•
Cloud Security Solutions revenue for the fourth quarter was $238 million, up 29% year-over-year and when adjusted for foreign exchange.* Cloud Security Solutions revenue for 2019 was $849 million, up 29% year-over-year and up 30% when adjusted for foreign exchange.*



1

Revenue from Internet Platform Customers(3):

•
Revenue from Internet Platform Customers for the fourth quarter was $52 million, up 20% year-over-year and when adjusted for foreign exchange.* Internet Platform Customers revenue for 2019 was $189 million, up 8% year-over-year and when adjusted for foreign exchange.*

•
Revenue excluding Internet Platform Customers for the fourth quarter was $720 million, up 7% year-over-year and up 8% when adjusted for foreign exchange.* Revenue excluding Internet Platform Customers for 2019 was $2.704 billion, up 6% year-over-year and up 8% when adjusted for foreign exchange.*

Revenue by Geography:

•
U.S. revenue for the fourth quarter was $446 million, up 3% year-over-year. U.S. revenue for 2019 was $1.694 billion, up 1% year-over-year.

•
International revenue for the fourth quarter was $326 million, up 17% year-over-year and up 18% when adjusted for foreign exchange.* International revenue for 2019 was $1.199 billion, up 16% year-over-year and up 20% when adjusted for foreign exchange.*

2019 items: Effective January 1, 2019, the expected average useful life of our network assets, primarily servers, increased from four years to five years, due to software and hardware initiatives undertaken to manage our global network more efficiently. As a result, fourth quarter year-over-year growth rates for GAAP and non-GAAP income from operations, net income and EPS in the paragraphs below were benefited by $7 million, or $6 million net of tax and $0.04 per share. Full-year growth rates for GAAP and non-GAAP income from operations, net income and EPS in the paragraphs below were benefited by $32 million, or $26 million net of tax and $0.16 per share.

Full-year GAAP growth rates were also impacted by a one-time $50 million endowment to the Akamai Foundation recognized in the second quarter of 2018, which did not recur in 2019.

Income from operations: GAAP income from operations for the fourth quarter was $135 million, a 12% increase from fourth quarter 2018 income from operations of $120 million. GAAP operating margin for the fourth quarter was 18%, up 1 percentage point from the same period last year. GAAP income from operations for 2019 was $549 million, a 51% increase from the prior year's GAAP income from operations of $362 million. Full-year GAAP operating margin was 19%, up 6 percentage points from the same period last year.

Non-GAAP income from operations* for the fourth quarter was $222 million, a 10% increase from fourth quarter 2018 non-GAAP income from operations of $201 million. Non-GAAP operating margin* for the fourth quarter was 29%, up 1 percentage point from the same period last year. Non-GAAP income from operations* for 2019 was $844 million, a 17% increase from the prior year's non-GAAP income from operations of $720 million. Full year non-GAAP operating margin* was 29%, up 2 percentage points from the same period last year.

Net income: GAAP net income for the fourth quarter was $119 million, a 27% increase from fourth quarter 2018 GAAP net income of $94 million. GAAP net income for 2019 was $478 million, a 60% increase from the prior year's GAAP net income of $298 million.

Non-GAAP net income* for the fourth quarter was $202 million, a 15% increase from fourth quarter 2018 non-GAAP net income of $176 million. Non-GAAP net income* for 2019 was $739 million, a 21% increase from the prior year's non-GAAP net income of $612 million.

EPS: GAAP EPS for the fourth quarter was $0.73 per diluted share, a 28% increase from fourth quarter 2018 GAAP EPS of $0.57 and a 29% increase when adjusted for foreign exchange.* GAAP EPS for 2019 was $2.90 per diluted share, a 65% increase from prior year's GAAP EPS of $1.76 per diluted share and a 69% increase when adjusted for foreign exchange.*

Non-GAAP EPS* for the fourth quarter was $1.23 per diluted share, a 15% increase from fourth quarter 2018 non-GAAP EPS of $1.07 and a 16% increase when adjusted for foreign exchange.* Non-GAAP EPS* for 2019 was $4.49 per diluted share, a 24% increase from prior year's non-GAAP EPS of $3.62 per diluted share and a 26% increase when adjusted for foreign exchange.*



2

Adjusted EBITDA*: Adjusted EBITDA* for the fourth quarter was $319 million, a 6% increase from fourth quarter 2018 Adjusted EBITDA of $301 million. Adjusted EBITDA margin* for the fourth quarter was 41%, down 1 percentage point from the same period last year. Adjusted EBITDA* for 2019 was $1.211 billion, an 11% increase from the prior year's Adjusted EBITDA of $1.092 billion. Adjusted EBITDA margin* was 42%, up 2 percentage points from the same period last year.

Supplemental cash information: Cash from operations for the quarter was $282 million, or 37% of revenue. Cash from operations for 2019 was $1.058 billion, or 37% of revenue. Cash, cash equivalents and marketable securities was $2.4 billion as of December 31, 2019.

Share repurchases: The Company spent $43 million in the fourth quarter to repurchase 0.5 million shares of its common stock at an average price of $88.48 per share. For the full-year, the Company spent $335 million to repurchase 4.0 million shares of its common stock at an average price of $82.90 per share. The Company had 162 million shares of common stock outstanding as of December 31, 2019.

*
See Use of Non-GAAP Financial Measures below for definitions

(1)    Revenue by Division – A customer-focused reporting view that reflects revenue from customers that are managed by the division

(2)
Revenue from Cloud Security Solutions – A product-focused reporting view that reflects revenue from Cloud Security Solutions separately from all other solution categories

(3)
Revenue from Internet Platform Customers – Revenue from six customers that are large Internet platform companies: Amazon, Apple, Facebook, Google, Microsoft and Netflix




3

Quarterly Conference Call
Akamai will host a conference call today at 4:30 p.m. ET that can be accessed through 1-844-578-9671 (or 1-508-637-5655 for international calls) and using passcode 7619277. A live webcast of the call may be accessed at www.akamai.com in the Investor section. In addition, a replay of the call will be available for two weeks following the conference by calling 1-855-859-2056 (or 1-404-537-3406 for international calls) and using passcode 7619277. The archived webcast of this event may be accessed through the Akamai website.

About Akamai
Akamai secures and delivers digital experiences for the world’s largest companies. Akamai’s intelligent edge platform surrounds everything, from the enterprise to the cloud, so customers and their businesses can be fast, smart and secure. Top brands globally rely on Akamai to help them realize competitive advantage through agile solutions that extend the power of their multi-cloud architectures. Akamai keeps decisions, apps and experiences closer to users than anyone – and attacks and threats far away. Akamai’s portfolio of edge security, web and mobile performance, enterprise access and video delivery solutions is supported by unmatched customer service, analytics and 24/7/365 monitoring. To learn why the world’s top brands trust Akamai, visit www.akamai.com, blogs.akamai.com, or @Akamai on Twitter.


4

AKAMAI TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)
December 31,
2019 (1)
 
December 31,
2018
ASSETS
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
543,745

 
$
1,036,455

Marketable securities
993,249

 
855,650

Accounts receivable, net
551,943

 
479,889

Prepaid expenses and other current assets
142,676

 
163,360

Total current assets
2,231,613

 
2,535,354

Marketable securities
835,384

 
209,066

Property and equipment, net
1,152,153

 
910,618

Operating lease right-of-use assets
758,450

 
—

Acquired intangible assets, net
179,431

 
168,348

Goodwill
1,600,265

 
1,487,404

Deferred income tax assets
76,528

 
34,913

Other assets
173,062

 
116,067

Total assets
$
7,006,886

 
$
5,461,770

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
138,946

 
$
99,089

Accrued expenses
334,861

 
328,304

Deferred revenue
71,223

 
69,083

Convertible senior notes
—

 
686,552

Operating lease liabilities
139,463

 
—

Other current liabilities
8,843

 
27,681

Total current liabilities
693,336

 
1,210,709

Deferred revenue
4,368

 
4,557

Deferred income tax liabilities
29,187

 
19,624

Convertible senior notes
1,839,791

 
874,080

Operating lease liabilities
692,181

 
—

Other liabilities
90,065

 
160,940

Total liabilities
3,348,928

 
2,269,910

Total stockholders’ equity
3,657,958

 
3,191,860

Total liabilities and stockholders’ equity
$
7,006,886

 
$
5,461,770


(1) On January 1, 2019, Akamai adopted the new lease accounting standard on a modified retrospective basis by applying the new standard to its lease portfolio as of January 1, 2019, while continuing to apply legacy guidance in the comparative periods. Adoption of the standard required Akamai to record right-of-use assets and lease liabilities for its operating leases related to real estate and co-location arrangements. The adoption of the standard also resulted in elimination of related accrued expenses and deferred rent liabilities, as of January 1, 2019, that are now included in the new lease balances.


5

AKAMAI TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME

 
Three Months Ended
 
Year Ended
(in thousands, except per share data)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
Revenue
$
772,123

 
$
709,912

 
$
713,363

 
$
2,893,617

 
$
2,714,474

Costs and operating expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (1) (2)
257,750

 
246,938

 
243,927

 
987,624

 
953,485

Research and development (1)
68,898

 
64,887

 
60,342

 
261,365

 
246,165

Sales and marketing (1)
140,243

 
122,258

 
137,797

 
523,883

 
517,353

General and administrative (1) (2)
149,926

 
123,216

 
129,565

 
516,093

 
574,067

Amortization of acquired intangible assets
9,710

 
9,624

 
8,292

 
38,581

 
33,311

Restructuring charge (benefit)
10,274

 
(300
)
 
13,152

 
17,153

 
27,594

Total costs and operating expenses
636,801

 
566,623

 
593,075

 
2,344,699

 
2,351,975

Income from operations
135,322

 
143,289

 
120,288

 
548,918

 
362,499

Interest income
11,402

 
7,908

 
7,308

 
34,355

 
26,940

Interest expense
(16,675
)
 
(12,127
)
 
(14,582
)
 
(49,364
)
 
(43,202
)
Other (expense) income, net
(609
)
 
(752
)
 
59

 
(1,428
)
 
(3,148
)
Income before (provision) benefit for income taxes
129,440

 
138,318

 
113,073

 
532,481

 
343,089

(Provision) benefit for income taxes
(10,632
)
 
960

 
(19,058
)
 
(53,350
)
 
(44,716
)
Income (loss) from equity method investment
292

 
(1,388
)
 
—

 
(1,096
)
 
—

Net income
$
119,100

 
$
137,890

 
$
94,015

 
$
478,035

 
$
298,373

 
 
 
 
 
 
 
 
 
 
Net income per share:
 
 
 
 
 
 
 
 
 
Basic
$
0.74

 
$
0.85

 
$
0.58

 
$
2.94

 
$
1.78

Diluted
$
0.73

 
$
0.84

 
$
0.57

 
$
2.90

 
$
1.76

 
 
 
 
 
 
 
 
 
 
Shares used in per share calculations:
 
 
 
 
 
 
 
 
 
Basic
161,737

 
162,445

 
162,958

 
162,706

 
167,312

Diluted
163,930

 
164,558

 
164,540

 
164,573

 
169,188


(1)
Includes stock-based compensation (see supplemental table for figures)
(2)
Includes depreciation and amortization (see supplemental table for figures)



6

AKAMAI TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
119,100

 
$
137,890

 
$
94,015

 
$
478,035

 
$
298,373

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
 
 
 
 
Depreciation and amortization
115,800

 
110,604

 
116,294

 
440,674

 
434,520

Stock-based compensation
46,878

 
46,815

 
44,998

 
187,140

 
183,813

(Benefit) provision for deferred income taxes
(23,648
)
 
(27
)
 
(10,567
)
 
933

 
2,339

Amortization of debt discount and issuance costs
15,096

 
11,133

 
14,114

 
45,857

 
41,958

Restructuring-related software charges
3,784

 
—

 
2,122

 
3,784

 
4,940

Other non-cash reconciling items, net
966

 
2,598

 
2,718

 
4,744

 
12,078

Changes in operating assets and liabilities, net of effects of acquisitions:
 
 
 
 
 
 
 
 
 
Accounts receivable
(26,327
)
 
(17
)
 
(16,834
)
 
(64,471
)
 
(30,445
)
Prepaid expenses and other current assets
23,352

 
11,624

 
(2,048
)
 
11,689

 
(4,132
)
Accounts payable and accrued expenses
38,210

 
23,348

 
34,317

 
8,769

 
42,238

Deferred revenue
(30,261
)
 
(11,259
)
 
(24,846
)
 
(13,547
)
 
(919
)
Other current liabilities
4,620

 
(3,111
)
 
7,392

 
(17,230
)
 
9,422

Other non-current assets and liabilities
(5,430
)
 
(32,213
)
 
24,480

 
(28,073
)
 
14,142

Net cash provided by operating activities
282,140

 
297,385

 
286,155

 
1,058,304

 
1,008,327

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Cash paid for acquired businesses, net of cash acquired
(43,920
)
 
—

 
—

 
(165,329
)
 
(79
)
Cash paid for equity method investment
—

 
—

 
—

 
(36,008
)
 
—

Purchases of property and equipment and capitalization of internal-use software development costs
(133,666
)
 
(152,633
)
 
(117,334
)
 
(562,077
)
 
(405,741
)
Purchases of short- and long-term marketable securities
(466,585
)
 
(981,805
)
 
(91,611
)
 
(1,840,148
)
 
(873,697
)
Proceeds from sales and maturities of short- and long-term marketable securities
205,903

 
229,796

 
380,034

 
1,085,229

 
775,050

Other non-current assets and liabilities
(1,496
)
 
(342
)
 
612

 
399

 
(2,066
)
Net cash (used in) provided by investing activities
(439,764
)
 
(904,984
)
 
171,701

 
(1,517,934
)
 
(506,533
)


7

AKAMAI TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, continued

 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from the issuance of convertible senior notes
—

 
1,135,629

 
—

 
1,135,629

 
1,132,185

Proceeds from the issuance of warrants
—

 
185,150

 
—

 
185,150

 
119,945

Purchase of note hedge related to convertible senior notes
—

 
(312,225
)
 
—

 
(312,225
)
 
(261,740
)
Repayment of convertible senior notes
—

 
—

 
—

 
(690,000
)
 
—

Proceeds from the issuance of common stock under stock plans
13,908

 
14,432

 
10,111

 
57,112

 
62,608

Employee taxes paid related to net share settlement of stock-based awards
(14,150
)
 
(11,160
)
 
(12,160
)
 
(75,266
)
 
(64,305
)
Repurchases of common stock
(42,731
)
 
(175,541
)
 
(124,075
)
 
(334,519
)
 
(750,000
)
Other non-current assets and liabilities
—

 
—

 
—

 
(1,558
)
 
(5,085
)
Net cash (used in) provided by financing activities
(42,973
)
 
836,285

 
(126,124
)
 
(35,677
)
 
233,608

Effects of exchange rate changes on cash and cash equivalents
5,116

 
(5,328
)
 
(1,316
)
 
2,466

 
(12,844
)
Net (decrease) increase in cash, cash equivalents and restricted cash
(195,481
)
 
223,358

 
330,416

 
(492,841
)
 
722,558

Cash, cash equivalents and restricted cash at beginning of period
739,627

 
516,269

 
706,571

 
1,036,987

 
314,429

Cash, cash equivalents and restricted cash at end of period
$
544,146

 
$
739,627

 
$
1,036,987

 
$
544,146

 
$
1,036,987




8

AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL REVENUE DATA – REVENUE BY DIVISION
 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018 (1)
 
December 31,
2019
 
December 31,
2018 (1)
Web Division
$
419,529

 
$
390,223

 
$
386,268

 
$
1,566,401

 
$
1,448,644

Media and Carrier Division
352,594

 
319,689

 
327,095

 
1,327,216

 
1,265,830

Total revenue
$
772,123

 
$
709,912

 
$
713,363

 
$
2,893,617

 
$
2,714,474

Revenue growth rates year-over-year:
 
 
 
 
 
 
 
 
 
Web Division
9
%
 
9
%
 
9
%
 
8
%
 
11
%
Media and Carrier Division
8

 
2

 
8

 
5

 
7

Total revenue
8
%
 
6
%
 
8
%
 
7
%
 
9
%
Revenue growth rates year-over-year, adjusted for the impact of foreign exchange rates(2):
 
 
 
 
 
 
 
 
 
Web Division
9
%
 
10
%
 
10
%
 
9
%
 
10
%
Media and Carrier Division
8

 
3

 
9

 
6

 
7

Total revenue
9
%
 
7
%
 
10
%
 
8
%
 
9
%

AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL REVENUE DATA – REVENUE FROM CLOUD SECURITY SOLUTIONS
 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018 (3)
 
December 31,
2019
 
December 31,
2018 (3)
Cloud Security Solutions
$
237,913

 
$
215,916

 
$
184,769

 
$
848,733

 
$
658,747

CDN and other solutions
534,210

 
493,996

 
528,594

 
2,044,884

 
2,055,727

Total revenue
$
772,123

 
$
709,912

 
$
713,363

 
$
2,893,617

 
$
2,714,474

Revenue growth rates year-over-year:
 
 
 
 
 
 
 
 
 
Cloud Security Solutions
29
%
 
28
 %
 
35
%
 
29
 %
 
35
%
CDN and other solutions
1

 
(1
)
 
1

 
(1
)
 
3

Total revenue
8
%
 
6
 %
 
8
%
 
7
 %
 
9
%
Revenue growth rates year-over-year, adjusted for the impact of foreign exchange rates(2):
 
 
 
 
 
 
 
 
 
Cloud Security Solutions
29
%
 
29
 %
 
37
%
 
30
 %
 
35
%
CDN and other solutions
1

 
(1
)
 
2

 
1

 
2

Total revenue
9
%
 
7
 %
 
10
%
 
8
 %
 
9
%

(1) As of January 1, 2019, Akamai reassigned some of its customers from the Media and Carrier Division to the Web Division and revised historical results in order to reflect the most recent categorization and to provide a comparable view for all periods presented. As the purchasing patterns and required account expertise of customers change over time, Akamai may reassign a customer's division from one to another.
(2) See Use of Non-GAAP Financial Measures below for a definition
(3) As of January 1, 2019, Akamai updated its methodology for allocating revenue to specific solutions when solutions are sold as a bundle. Revenue amounts were reassigned from CDN and other solutions revenue to Cloud Security Solutions revenue as a result of this change and historical results were revised in order to reflect the most recent allocation methodologies and to provide a comparable view for all periods presented.


9

AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL REVENUE DATA – REVENUE FROM INTERNET PLATFORM CUSTOMERS

 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
Revenue from Internet Platform Customers
$
51,927

 
$
44,156

 
$
43,218

 
$
189,428

 
$
174,757

Revenue excluding Internet Platform Customers
720,196

 
665,756

 
670,145

 
2,704,189

 
2,539,717

Total revenue
$
772,123

 
$
709,912

 
$
713,363

 
$
2,893,617

 
$
2,714,474

Revenue growth rates year-over-year:
 
 
 
 
 
 
 
 
 
Revenue from Internet Platform Customers
20
%
 
2
%
 
(14
)%
 
8
%
 
(14
)%
Revenue excluding Internet Platform Customers
7

 
6

 
10

 
6

 
11

Total revenue
8
%
 
6
%
 
8
 %
 
7
%
 
9
 %
Revenue growth rates year-over-year, adjusted for the impact of foreign exchange rates(1):
 
 
 
 
 
 
 
 
 
Revenue from Internet Platform Customers
20
%
 
2
%
 
(14
)%
 
8
%
 
(14
)%
Revenue excluding Internet Platform Customers
8

 
7

 
11

 
8

 
11

Total revenue
9
%
 
7
%
 
10
 %
 
8
%
 
9
 %


AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL REVENUE DATA – REVENUE BY GEOGRAPHY
 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
U.S.
$
446,036

 
$
413,116

 
$
434,231

 
$
1,694,211

 
$
1,683,272

International
326,087

 
296,796

 
279,132

 
1,199,406

 
1,031,202

Total revenue
$
772,123

 
$
709,912

 
$
713,363

 
$
2,893,617

 
$
2,714,474

Revenue growth rates year-over-year:
 
 
 
 
 
 
 
 
 
U.S.
3
%
 
—
%
 
2
%
 
1
%
 
3
%
International
17

 
15

 
20

 
16

 
21

Total revenue
8
%
 
6
%
 
8
%
 
7
%
 
9
%
Revenue growth rates year-over-year, adjusted for the impact of foreign exchange rates(1):
 
 
 
 
 
 
 
 
 
U.S.
3
%
 
—
%
 
2
%
 
1
%
 
3
%
International
18

 
18

 
23

 
20

 
20

Total revenue
9
%
 
7
%
 
10
%
 
8
%
 
9
%

(1) See Use of Non-GAAP Financial Measures below for a definition


10

AKAMAI TECHNOLOGIES, INC.
SUPPLEMENTAL OPERATING EXPENSE DATA

 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
General and administrative expenses:
 
 
 
 
 
 
 
 
 
Payroll and related costs
$
48,984

 
$
47,892

 
$
43,001

 
$
194,232

 
$
188,635

Stock-based compensation
12,808

 
12,825

 
13,269

 
52,826

 
53,514

Depreciation and amortization
22,167

 
19,269

 
20,273

 
78,587

 
80,014

Facilities-related costs
27,196

 
21,413

 
22,216

 
90,674

 
86,107

(Benefit) provision for doubtful accounts
(414
)
 
623

 
1,079

 
1,924

 
2,672

Acquisition-related costs
726

 
219

 
896

 
1,920

 
2,868

Legal and stockholder matter costs
10,000

 
—

 
—

 
10,000

 
23,091

License of patent
—

 
—

 
(4,355
)
 
(8,855
)
 
(17,146
)
Endowment of Akamai Foundation
—

 
—

 
—

 
—

 
50,000

Professional fees and other expenses
28,459

 
20,975

 
33,186

 
94,785

 
104,312

Total general and administrative expenses
$
149,926

 
$
123,216

 
$
129,565

 
$
516,093

 
$
574,067

 
 
 
 
 
 
 
 
 
 
General and administrative expenses–functional(1):
 
 
 
 
 
 
 
 
 
Global functions
$
51,416

 
$
47,731

 
$
47,547

 
$
198,077

 
$
197,377

As a percentage of revenue
7
%
 
7
%
 
7
%
 
7
%
 
7
%
Infrastructure
88,198

 
74,643

 
80,659

 
307,500

 
308,915

As a percentage of revenue
11
%
 
11
%
 
11
%
 
11
%
 
11
%
Other
10,312

 
842

 
1,359

 
10,516

 
67,775

Total general and administrative expenses
$
149,926

 
$
123,216

 
$
129,565

 
$
516,093

 
$
574,067

As a percentage of revenue
19
%
 
17
%
 
18
%
 
18
%
 
21
%
 
 
 
 
 
 
 
 
 
 
Stock-based compensation:
 
 
 
 
 
 
 
 
 
Cost of revenue
$
5,562

 
$
5,555

 
$
5,549

 
$
22,479

 
$
21,892

Research and development
12,742

 
12,842

 
11,350

 
49,685

 
44,034

Sales and marketing
15,766

 
15,593

 
14,830

 
62,150

 
64,373

General and administrative
12,808

 
12,825

 
13,269

 
52,826

 
53,514

Total stock-based compensation
$
46,878

 
$
46,815

 
$
44,998

 
$
187,140

 
$
183,813


(1) Global functions expense includes payroll, stock-based compensation and other employee-related costs for administrative functions, including finance, purchasing, order entry, human resources, legal, information technology and executive personnel, as well as third-party professional service fees. Infrastructure expense includes payroll, stock-based compensation and other employee-related costs for our network infrastructure functions, as well as facility rent expense, depreciation and amortization of facility and IT-related assets, software and software-related costs, business insurance and taxes. Our network infrastructure function is responsible for network planning, sourcing, architecture evaluation and platform security. Other expense includes acquisition-related costs, provision for doubtful accounts, the license of a patent, legal and stockholder matter costs, transformation costs and the endowment to the Akamai Foundation.



11

AKAMAI TECHNOLOGIES, INC.
OTHER SUPPLEMENTAL DATA

 
Three Months Ended
 
Year Ended
(in thousands, except end of period statistics)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
Depreciation and amortization:
 
 
 
 
 
 
 
 
 
Network-related depreciation (1)
$
34,186

 
$
31,840

 
$
37,592

 
$
125,588

 
$
150,458

Capitalized internal-use software development amortization
41,501

 
41,842

 
42,440

 
165,240

 
143,752

Other depreciation and amortization
21,703

 
18,843

 
19,802

 
76,827

 
78,396

Depreciation of property and equipment
97,390

 
92,525

 
99,834

 
367,655

 
372,606

Capitalized stock-based compensation amortization
7,747

 
7,500

 
7,175

 
30,613

 
25,237

Capitalized interest expense amortization
953

 
955

 
993

 
3,825

 
3,366

Amortization of acquired intangible assets
9,710

 
9,624

 
8,292

 
38,581

 
33,311

Total depreciation and amortization
$
115,800

 
$
110,604

 
$
116,294

 
$
440,674

 
$
434,520

 
 
 
 
 
 
 
 
 
 
Capital expenditures, excluding stock-based compensation and interest expense(2)(3):
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
$
122,560

 
$
104,345

 
$
74,262

 
$
406,854

 
$
229,744

Capitalized internal-use software development costs
50,497

 
49,754

 
50,920

 
202,691

 
198,327

Total capital expenditures, excluding stock-based compensation and interest expense
$
173,057

 
$
154,099

 
$
125,182

 
$
609,545

 
$
428,071

 
 
 
 
 
 
 
 
 
 
End of period statistics:
 
 
 
 
 
 
 
 
 
Number of employees
7,724

 
7,579

 
7,519

 
 
 
 

(1) As of January 1, 2019, due to the software and hardware initiatives undertaken to manage global network more efficiently, Akamai changed the estimated useful life of its network assets, primarily servers, from 4 years to 5 years. This prospective change decreased depreciation expense in 2019, as compared to the comparative periods presented in 2018.
(2) Capital expenditures presented in this table are reported on an accrual basis, which differs from the cash-basis presentation in the statements of cash flows. The primary difference between the two is the change in purchases of property and equipment and capitalization of internal-use software development costs accrued for, but not paid, at period end versus prior periods.
(3) See Use of Non-GAAP Financial Measures below for a definition.



12

AKAMAI TECHNOLOGIES, INC.
RECONCILIATION OF GAAP TO NON-GAAP INCOME FROM OPERATIONS AND NET INCOME

 
Three Months Ended
 
Year Ended
(in thousands)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
Income from operations
$
135,322

 
$
143,289

 
$
120,288

 
$
548,918

 
$
362,499

GAAP operating margin
18
%
 
20
%
 
17
%
 
19
%
 
13
%
Amortization of acquired intangible assets
9,710

 
9,624

 
8,292

 
38,581

 
33,311

Stock-based compensation
46,878

 
46,815

 
44,998

 
187,140

 
183,813

Amortization of capitalized stock-based compensation and capitalized interest expense
8,700

 
8,455

 
8,168

 
34,438

 
28,603

Restructuring charge (benefit)
10,274

 
(300
)
 
13,152

 
17,153

 
27,594

Acquisition-related costs
726

 
219

 
896

 
1,920

 
2,868

Legal and stockholder matter costs
10,000

 
—

 
—

 
10,000

 
23,091

Endowment of Akamai Foundation
—

 
—

 
—

 
—

 
50,000

Transformation costs
—

 
—

 
5,178

 
5,527

 
7,730

Operating adjustments
86,288

 
64,813

 
80,684

 
294,759

 
357,010

Non-GAAP income from operations
$
221,610

 
$
208,102

 
$
200,972

 
$
843,677

 
$
719,509

Non-GAAP operating margin
29
%
 
29
%
 
28
%
 
29
%
 
27
%
 
 
 
 
 
 
 
 
 
 
Net income
$
119,100

 
$
137,890

 
$
94,015

 
$
478,035

 
$
298,373

Operating adjustments (from above)
86,288

 
64,813

 
80,684

 
294,759

 
357,010

Amortization of debt discount and issuance costs
15,096

 
11,133

 
14,114

 
45,857

 
41,958

Loss on investments
500

 
—

 
—

 
60

 
1,481

(Income) loss from equity method investment
(292
)
 
1,388

 
—

 
1,096

 
—

Income tax-effect of above non-GAAP adjustments and certain discrete tax items
(19,099
)
 
(34,631
)
 
(12,959
)
 
(80,488
)
 
(86,391
)
Non-GAAP net income
$
201,593

 
$
180,593

 
$
175,854

 
$
739,319

 
$
612,431




13

AKAMAI TECHNOLOGIES, INC.
RECONCILIATION OF GAAP TO NON-GAAP NET INCOME PER DILUTED SHARE

 
Three Months Ended
 
Year Ended
(in thousands, except per share data)
December 31,
2019
 
September 30,
2019
 
December 31,
2018
 
December 31,
2019
 
December 31,
2018
GAAP net income per diluted share
$
0.73

 
$
0.84

 
$
0.57

 
$
2.90

 
$
1.76

Amortization of acquired intangible assets
0.06

 
0.06

 
0.05

 
0.23

 
0.20

Stock-based compensation
0.29

 
0.28

 
0.27

 
1.14

 
1.09

Amortization of capitalized stock-based compensation and capitalized interest expense
0.05

 
0.05

 
0.05

 
0.21

 
0.17

Restructuring charge (benefit)
0.06

 
—

 
0.08

 
0.10

 
0.16

Acquisition-related costs
—

 
—

 
0.01

 
0.01

 
0.02

Legal and stockholder matter costs
0.06

 
—

 
—

 
0.06

 
0.14

Endowment of Akamai Foundation
—

 
—

 
—

 
—

 
0.30

Transformation costs
—

 
—

 
0.03

 
0.03

 
0.05

Amortization of debt discount and issuance costs
0.09

 
0.07

 
0.09

 
0.28

 
0.25

Loss on investments
—

 
—

 
—

 
—

 
0.01

(Income) loss from equity method investment
—

 
0.01

 
—

 
0.01

 
—

Income tax effect of above non-GAAP adjustments and certain discrete tax items
(0.12
)
 
(0.21
)
 
(0.08
)
 
(0.49
)
 
(0.51
)
Non-GAAP net income per diluted share
$
1.23

 
$
1.10

 
$
1.07

 
$
4.49

 
$
3.62

 
 
 
 
 
 
 
 
 
 
Shares used in diluted per share calculations
163,930

 
164,558

 
164,540

 
164,573

 
169,188



14

AKAMAI TECHNOLOGIES, INC.
RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA

 
Three Months Ended
 
Year Ended
(in thousands)
December 31, 2019
 
September 30, 2019
 
December 31, 2018
 
December 31, 2019
 
December 31, 2018
Net income
$
119,100

 
$
137,890

 
$
94,015

 
$
478,035

 
$
298,373

Interest income
(11,402
)
 
(7,908
)
 
(7,308
)
 
(34,355
)
 
(26,940
)
Provision (benefit) for income taxes
10,632

 
(960
)
 
19,058

 
53,350

 
44,716

Depreciation and amortization
97,390

 
92,525

 
99,834

 
367,655

 
372,606

Amortization of capitalized stock-based compensation and capitalized interest expense
8,700

 
8,455

 
8,168

 
34,438

 
28,603

Amortization of acquired intangible assets
9,710

 
9,624

 
8,292

 
38,581

 
33,311

Stock-based compensation
46,878

 
46,815

 
44,998

 
187,140

 
183,813

Restructuring charge (benefit)
10,274

 
(300
)
 
13,152

 
17,153

 
27,594

Acquisition-related costs
726

 
219

 
896

 
1,920

 
2,868

Legal and stockholder matter costs
10,000

 
—

 
—

 
10,000

 
23,091

Endowment of Akamai Foundation
—

 
—

 
—

 
—

 
50,000

Transformation costs
—

 
—

 
5,178

 
5,527

 
7,730

Interest expense
16,675

 
12,127

 
14,582

 
49,364

 
43,202

Loss on investments
500

 
—

 
—

 
60

 
1,481

(Income) loss from equity method investment
(292
)
 
1,388

 
—

 
1,096

 
—

Other expense (income), net
109

 
752

 
(59
)
 
1,368

 
1,667

Adjusted EBITDA
$
319,000

 
$
300,627

 
$
300,806

 
$
1,211,332

 
$
1,092,115

Adjusted EBITDA margin
41
%
 
42
%
 
42
%
 
42
%
 
40
%



15

Use of Non-GAAP Financial Measures

In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), Akamai provides additional financial metrics that are not prepared in accordance with GAAP (non-GAAP). Management uses non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes, to measure executive compensation and to evaluate Akamai's financial performance. These non-GAAP financial measures are non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share, Adjusted EBITDA, Adjusted EBITDA margin, capital expenditures and impact of foreign currency exchange rates, as discussed below.

Management believes that these non-GAAP financial measures reflect Akamai's ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparing financial results across accounting periods and to those of peer companies. Management also believes that these non-GAAP financial measures enable investors to evaluate Akamai's operating results and future prospects in the same manner as management. These non-GAAP financial measures may exclude expenses and gains that may be unusual in nature, infrequent or not reflective of Akamai's ongoing operating results.

The non-GAAP financial measures do not replace the presentation of Akamai's GAAP financial results and should only be used as a supplement to, not as a substitute for, Akamai's financial results presented in accordance with GAAP. Akamai has provided a reconciliation of each non-GAAP financial measure used in its financial reporting and investor presentations to the most directly comparable GAAP financial measure. This reconciliation captioned “Reconciliation of GAAP to Non-GAAP Financial Measures” can be found on the Investor Relations section of Akamai's website.

The non-GAAP adjustments, and Akamai's basis for excluding them from non-GAAP financial measures, are outlined below:

•
Amortization of acquired intangible assets – Akamai has incurred amortization of intangible assets, included in its GAAP financial statements, related to various acquisitions Akamai has made. The amount of an acquisition's purchase price allocated to intangible assets and term of its related amortization can vary significantly and are unique to each acquisition; therefore, Akamai excludes amortization of acquired intangible assets from its non-GAAP financial measures to provide investors with a consistent basis for comparing pre- and post-acquisition operating results.

•
Stock-based compensation and amortization of capitalized stock-based compensation – Although stock-based compensation is an important aspect of the compensation paid to Akamai's employees, the grant date fair value varies based on the stock price at the time of grant, varying valuation methodologies, subjective assumptions and the variety of award types. This makes the comparison of Akamai's current financial results to previous and future periods difficult to interpret; therefore, Akamai believes it is useful to exclude stock-based compensation and amortization of capitalized stock-based compensation from its non-GAAP financial measures in order to highlight the performance of Akamai's core business and to be consistent with the way many investors evaluate its performance and compare its operating results to peer companies.

•
Acquisition-related costs – Acquisition-related costs include transaction fees, advisory fees, due diligence costs and other direct costs associated with strategic activities. In addition, subsequent adjustments to Akamai's initial estimated amounts of contingent consideration and indemnification associated with specific acquisitions are included within acquisition-related costs. These amounts are impacted by the timing and size of the acquisitions. Akamai excludes acquisition-related costs from its non-GAAP financial measures to provide a useful comparison of Akamai's operating results to prior periods and to its peer companies because such amounts vary significantly based on the magnitude of the acquisition transactions and do not reflect Akamai's core operations.

•
Restructuring charges – Akamai has incurred restructuring charges that are included in its GAAP financial statements, primarily related to workforce reductions and estimated costs of exiting facility lease commitments. Akamai excludes these items from its non-GAAP financial measures when evaluating its continuing business performance as such items vary significantly based on the magnitude of the restructuring action and do not reflect expected future operating expenses. In addition, these charges do not necessarily provide meaningful insight into the fundamentals of current or past operations of its business.

•
Amortization of debt discount and issuance costs and amortization of capitalized interest expense – In August 2019, Akamai issued $1,150 million of convertible senior notes due 2027 with a coupon interest rate of 0.375%. In May 2018, Akamai issued $1,150 million of convertible senior notes due 2025 with a coupon interest rate of 0.125%. In February


16

2014, Akamai issued $690 million of convertible senior notes due 2019 with a coupon interest rate of 0%. The imputed interest rates of these convertible senior notes were 3.10%, 4.26% and 3.20%, respectively. This is a result of the debt discounts recorded for the conversion features that are required to be separately accounted for as equity under GAAP, thereby reducing the carrying value of the convertible debt instruments. The debt discounts are amortized as interest expense together with the issuance costs of the debt. The interest expense excluded from Akamai's non-GAAP results is comprised of these non-cash components and is excluded from management's assessment of the company's operating performance because management believes the non-cash expense is not representative of ongoing operating performance.

•
Gains and losses on investments – Akamai has recorded gains and losses from the disposition, changes to fair value and impairment of certain investments. Akamai believes excluding these amounts from its non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of Akamai's core business operations and ongoing operating performance.

•
Legal and stockholder matter costs – Akamai has incurred losses related to the settlement of legal matters and costs from professional service providers related to a non-routine stockholder matter. Akamai believes excluding these amounts from its non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of Akamai's core business operations.

•
Endowment of Akamai Foundation – During the second quarter of 2018, Akamai incurred a charge to endow the Akamai Foundation. Akamai believes excluding this amount from non-GAAP financial measures is useful to investors as this one-time expense is not representative of its core business operations.

•
Transformation costs – Akamai has incurred professional services fees associated with internal transformation programs designed to improve its operating margins and that are part of a planned program intended to significantly change the manner in which business in conducted. Akamai believes excluding these amounts from its non-GAAP financial measures is useful to investors as the types of events and activities giving rise to them occur infrequently and are not representative of Akamai's core business operations and ongoing operating performance.

•
Income and losses from equity method investment – Akamai records income or losses on its share of earnings and losses of its equity method investment. Akamai excludes such income and losses because it lacks control over the operations of the investment and the related income and losses are not representative of its core business operations.

•
Income tax effect of non-GAAP adjustments and certain discrete tax items – The non-GAAP adjustments described above are reported on a pre-tax basis. The income tax effect of non-GAAP adjustments is the difference between GAAP and non-GAAP income tax expense. Non-GAAP income tax expense is computed on non-GAAP pre-tax income (GAAP pre-tax income adjusted for non-GAAP adjustments) and excludes certain discrete tax items (such as recording or releasing of valuation allowances), if any. Akamai believes that applying the non-GAAP adjustments and their related income tax effect allows Akamai to highlight income attributable to its core operations.

Akamai's definitions of its non-GAAP financial measures are outlined below:

Non-GAAP income from operations – GAAP income from operations adjusted for the following items: amortization of acquired intangible assets; stock-based compensation; amortization of capitalized stock-based compensation; amortization of capitalized interest expense; acquisition-related costs; restructuring charges; gains and losses on legal settlements; costs from professional service providers related to a non-routine stockholder matter; costs incurred related to the establishment of an endowment to the Akamai Foundation; transformation costs; and other non-recurring or unusual items that may arise from time to time.

Non-GAAP operating margin – Non-GAAP income from operations stated as a percentage of revenue.

Non-GAAP net income – GAAP net income adjusted for the following tax-affected items: amortization of acquired intangible assets; stock-based compensation; amortization of capitalized stock-based compensation; acquisition-related costs; restructuring charges; gains and losses on legal settlements; costs from professional service providers related to a non-routine stockholder matter; costs incurred related to the establishment of an endowment to the Akamai Foundation; transformation costs; amortization of debt discount and issuance costs; amortization of capitalized interest expense; certain gains and losses on investments; income and losses from equity method investment; and other non-recurring or unusual items that may arise from time to time.



17

Non-GAAP net income per share – Non-GAAP net income divided by basic weighted average or diluted common shares outstanding. Basic weighted average shares outstanding are those used in GAAP net income per share calculations. Diluted weighted average shares outstanding are adjusted in non-GAAP per share calculations for the shares that would be delivered to Akamai pursuant to the note hedge transactions entered into in connection with the issuances of $1,150 million of convertible senior notes due 2027 and 2025. Under GAAP, shares delivered under hedge transactions are not considered offsetting shares in the fully-diluted share calculation until they are delivered. However, the company would receive a benefit from the note hedge transactions and would not allow the dilution to occur, so management believes that adjusting for this benefit provides a meaningful view of operating performance. With respect to the convertible senior notes due in each of 2027 and 2025, unless and until Akamai's weighted average stock price is greater than $116.18 and $95.10, respectively, the initial conversion price, there will be no difference between GAAP and non-GAAP diluted weighted average common shares outstanding.

Adjusted EBITDA – GAAP net income excluding the following items: interest income; income taxes; depreciation and amortization of tangible and intangible assets; stock-based compensation; amortization of capitalized stock-based compensation; acquisition-related costs; restructuring charges; gains and losses on legal settlements; costs from professional service providers related to a non-routine stockholder matter; costs incurred related to the establishment of an endowment to the Akamai Foundation; transformation costs; foreign exchange gains and losses; interest expense; amortization of capitalized interest expense; certain gains and losses on investments; income and losses on equity method investment; and other non-recurring or unusual items that may arise from time to time.

Adjusted EBITDA margin – Adjusted EBITDA stated as a percentage of revenue.

Capital expenditures, or capex, excluding stock-based compensation and interest expense – Purchases of property and equipment and capitalization of internal-use software development costs presented on an accrual basis, which differs from the cash-basis presentation included in the statements of cash flows. The primary difference between the two is the change in purchases of property and equipment and capitalization of internal-use software development costs accrued for, but not paid, at period end versus prior periods.

Impact of Foreign Currency Exchange Rate – Revenue and earnings from international operations have historically been an important contributor to Akamai's financial results. Consequently, Akamai's financial results have been impacted, and management expects they will continue to be impacted, by fluctuations in foreign currency exchange rates. For example, when the local currencies of our foreign subsidiaries weaken, our consolidated results stated in U.S. dollars are negatively impacted.

Because exchange rates are a meaningful factor in understanding period-to-period comparisons, management believes the presentation of the impact of foreign currency exchange rates on revenue and earnings enhances the understanding of our financial results and evaluation of performance in comparison to prior periods. The dollar impact of changes in foreign currency exchange rates presented is calculated by translating current period results using monthly average foreign currency exchange rates from the comparative period and comparing them to the reported amount. The percentage change at constant currency presented is calculated by comparing the prior period amounts as reported and the current period amounts translated using the same monthly average foreign currency exchange rates from the comparative period.


Akamai Statement Under the Private Securities Litigation Reform Act
This release and/or our quarterly earnings conference call scheduled for later today contain information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements about expected revenue growth and margin improvement. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, failure of our investments in innovation to generate solutions that are accepted in the market; inability to increase our revenue and manage our expenses as planned; delay in developing or failure to develop new service offerings or functionalities, and if developed, lack of market acceptance of such service offerings and functionalities or failure of such solutions to operate as expected; competitive factors; financial impact of completed and potential future acquisitions; and other factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.

In addition, the statements in this press release and on such call represent Akamai's expectations and beliefs as of the date of this press release. Akamai anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while Akamai may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Akamai's expectations or beliefs as of any date subsequent to the date of this press release.


18
 EX-101.SCH 3 akam-20200212.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0001000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 akam-20200212_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 akam-20200212_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 akam-20200212_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Cover page. Document Type Document Type Document Period End Date Document Period End Date Entity Registrant Name Entity Registrant Name Entity Central Index Key Entity Central Index Key Amendment Flag Amendment Flag Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Entity File Number Entity File Number Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Entity Address, City or Town Entity Address, City or Town Entity Address, State or Province Entity Address, State or Province Entity Address, Postal Zip Code Entity Address, Postal Zip Code City Area Code City Area Code Local Phone Number Local Phone Number Written Communications Written Communications Soliciting Material Soliciting Material Pre-commencement Tender Offer Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Entity Emerging Growth Company Entity Emerging Growth Company EX-101.PRE 7 akam-20200212_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 8 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 10 R1.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Document and Entity Information
Feb. 11, 2020
Cover page.  
Document Type 8-K
Document Period End Date Feb. 11, 2020
Entity Registrant Name AKAMAI TECHNOLOGIES, INC.
Entity Central Index Key 0001086222
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 0-27275
Entity Tax Identification Number 04-3432319
Entity Address, Address Line One 145 Broadway
Entity Address, City or Town Cambridge
Entity Address, State or Province MA
Entity Address, Postal Zip Code 02142
City Area Code 617
Local Phone Number 444-3000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
ZIP 11 0001086222-20-000025-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001086222-20-000025-xbrl.zip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

@Z/\&S.#^TE0F? M'G9(^3/1U8GB@2.I_HBT=:G\($ D('(CB'2Q+M5-#Q )B-R0MNEBRY5JCP20 M!$AN!I+< EHY8[S.D&Q/Y5 _SF@HTUCA%70U.%V'\4Q86V5PK&A*H4RKR%^N MSR]QI6[.*"$6=J6RI.1710#B =0#JL2 ?#Q)8.?H?=9G$\E0:+VG.R_.MVT8?-NTUR!QLV?*]"X^7,%&C=_KJVDL9J5AZ5GG%_>%FLXB,/A M^_O2PZ+:9KZGO]TSGIQD7GY0 MAR4YI+T&?8,G#M0'Z@/UVSEQH#Y0O\W4;UJEV==9XH^YJIN^MOMZY9-7,NY0 M9MP5'@VO8\N&]FWJ2 ' _U;QKYG8,*'9'."_G?AW3*S;,K5\ '^ ?_WA;VHV M=BV9["G /^"__OC7=0\[9IWPKV8L:1M=+",^PUG*4!J/LEN:,#1D-RR,M 9&G8]#9QFJ1R+8J48H6Z5I'7#-TF%]Q2B@N@&]"M/+JY[/8J M2%L&= .Z%42WKNG8]C;1&P3@#?#>.;R)YV)C(^>X*P=OR9"MZJUO_$VD,>Z\ M9*UYE6D;FW5ULL QL&:5EP7/%:"I6&?6=O9YP+G N<"Y]>)< MW<+$+=^@%S@7.!MJ2RT8!S@7.!:4=^G6A7/53,.H M0V%W6Q8$%@%0 :@ 5 J !6 "D!%)0O2K!+9_/)Q4Y1>-,RK9?GML9@BS8*4 M3R\MVRREZ99T ^8'M&S._("6S9D?T+(Y\VL-+=7TSSW5H/+K(.*+49WN>#Z; M#%@BE"@VF8;Q'6.EZZ+JE7[I8$?NODBN5@JZRN<-U Z?E2.44 3@!G%L M)P%P-@6<2CO,6NLZ!>IO0_-_E]%!R.X_S_]=&L]*P^>GHNG1(N2:^;*JOO]$ M5W=?.P=WC?!2;HA[Y"U"W;R!X7_1:$:3.T0PTC7B832<,93%*!LOM600]2]C MF@SSBR *,G%\] U+$<<9AR']SB+QFPF-Z#5#UV$\H"&*6'8;)]_1).8_XA , M_(!/(;S#J/N=3FB _#&-KMDP?Q5+LV!",WXU2]EH%J(P&#$QOB!+[Y]$TY1E M*4;3A-^;\ FBE"4<@_RC41)/D(GN&$U2,12K^/, ]<=!*KHTIE/FBS'/WXJ& MS$]87NGSZ$#L>7$/G^1\.6B:EP+QB0\7RU)W8G-9W\Z>RR&=H MP.' 6/%C#@PD1CB^)RQ_ZO37'3KS*W_1BZ08CT#;RSJ2%!/GRS"*$XP&LPQ% M<8:F-!ARP&2+, =?4B30.1/S#N)D 982T"A/=H.3_8HQ]"W-V>L\CO:_=+M? MT><@HA'G@A"=<;;(@3#@D[X54T24+\$HY_LX>L7H-Z()YO_DGSYH MWSOZX_SB].++2>\*HY/SHTHXK+IA7O:.+LZ/3DY/NOV3BW-T\1GE+->_0.<7 MYP7[\4%?G/70Y\N+,W3QM7>9WWF%NN?'Z+S7GW^]PUEM O)+OW^TY6E/=CQQ MO?R"*$XF-'RDP!*M4$Z+G.ULFON?KL+ZZ?F78_F'")=\YNT67, MU9BGH^5;T'40%<.CLRQ>?%!HQODGM\$P&_.[^>3GJ:U< 0_I-&6'BS]6R-*Y M=V8_^!ZTSGI?=_$.@[QYWUDQBN;O_\E7DC^#ERG_,J6.@=R6*4Q(R?X3E7KK MJMO8^^.$ZV=G_.-QBGI#< #X"DM>-R6*R8 #]B7 #M;$RWU2/ZK8%5.(C^>L"* M(H(7>7AB3;I?Y=RT=O%J6(#_*QRH6WA/# L;NE2S&S7I!RD]P+HM85W3P+I; M:<(=L"ZP+K#N%EA7USCKRIBUBM(/6!=8MQVL:YDN]J0\4HK2#U@76+<=K&O8 M.C;E6C*K2;]J3U6HAE4?!EE9##=/7)O[IZ)K5*1$E2RMVF@%564S+Q7Y>*!0 MF;EM*C#_IN4QG68 5.J0,0 H '1K$E3F[!0 * !T:P M$[T&@ ) -PY0HU4 MK3KXK^Y9==U)S.?U4)-(_7_/@J0X+IU&UT%>BYE7PK:KC86''2)U=BZTL:BA M$*X=.&WH3@7@5!.<+M:]2E.) )P SLJ\_RZV7*D39@"=@,Z-H]/ !FD$.AMW MIO?5FM.Z5;;^I2=KVMAU9*).J@K#-LD\=2%%9 YE!$@!I-9 RL2>!U(*(%5A M2J[K8&+*^/T 4X"I=9@R^-8G$S]17GEO7/3COD@$ M="J)3MW%MB9C4BF'SL8%2BZY)93,_&R6\!>+-OG)-4-[ Q:Q49#]JO=B32U\ M#>N.3#Z.JB*Q39)/34CM&5)&]48S;J4GLX;K 8)*0Y 8F%@RB5P@U0!2:R#E M<$C5R1,.D%(=4KJ#+:].NE>+@BNBE"3-CW':3UB8G[=6'&C5+F/5T>TF6*K@ M1VD>-'4XJA>@J28T70^D)D!326@2[$FU/ %P C@WOZ5CMQE1Y<9%1D[9-0WS M[+$\M6P;-5%8MMDGYJ0NKO?W-UHLLT[@1, M :8 4X IV/H 4K6$E&Y@S9.I$5=>CZ]]P*,7#>/;">._BD>H^YW^_^U]:7/; M2+;EYYE?D>$NOR='0"R"%#=K^D6H;;E:T[9<8ZMBXGU, DDRVR# 0@*25;_^ MW9N9 ,%-"T2*('@[HN4BB267+6].N62?L#_;V"E^8&9H^=6T4D( MG@1/@B?!D^!)\"1X$CPK#L].6:N[$"&2$+FC#09. MKUW*W*DH(K<<,6IW*VL.?M%4L%$<35ED M;.HHW&!(/V.^VS!S?I3B&:@O\0#M%PN_['(8JBOSK9;K=+<@\VLZ7TG9/@(W M+DGN<4ANL^^XS5)'B)+DDN22Y.Y122Y)+DGM8DML_:SO=WLO3&DAR M27))=V%V\PG_#J]_I8.:_HW(KR M))$IC\?R,#<2;VU86ENM6+DZKR_I]!+TM];GMQ3DJ #6"W2XABR/4A)*#@G) M"K<+^/J:\TQ_7O*\UQ_?M*TJ M2)57XP_^Z,B+:03]^LNJ4P+2U[!*D&OO6.!:C1ZX0F M\6M0:E*RGLI=5>ZEQORULB54C,TNTZ[W"F>5?.D M$#CK!\[R!@S!D^#Y"MQ)V0\$SHJ"LT;<6;L@B3&M6,)_GL*X"B_!U#*]782% M677QXGX2S#/SH,=%]X@Z ?7=QIFI][+&C8N?# M1''[S.FVRSC ",6$XLJ@V&TY@YV<;UT?%.]B9@GEKXKR?M,Y*^18U^D,2FVB*3TJ ME3S>KE)44:7J0,0.Q\L.+JC$Q [$#L0.Q YKV*&'F\A*;7$D=B!V(':H-3OT MV@.G[>[F?.QJ(H#8@=B!V.&)VTS+@N'V83IU@V4((IV\/]7?S!M0ZKC!=0W6?_2W\X\/-;,PBAXT M3,2[&<=7;\)*&4O]=Q)G#YGQL3@=QH+_..4C>.=['MSQ>_5FW0@^I>7;@:#^ M>&?>,(P"'QYQ\:^++Q=7[.;RPS^OOW[^^MO5Y7>'75U_:)0:X)TU\]OEAZ_7 M'ZX^7UW<7'V]9E\_,>WTOOG*KK]>&P?X]>4--OSKETOV^^4W]O'J\Q\WEQ_9 M]W]>?+M\"5J>)VE[ W6Y9A;>L?" YM+]^+G8B#"*ISQ86&7WO-],8B'8%_AZHM@E4*!_Y)D2O7K. M\W\+'F^CEJ-)MUU*M=7:LB^#-!&^T9KI\+V#.WRO MV:C'R7N5DKTJ19E)P/8M8*6.Z"(!(P$C 7N:@%$A?Q(P$K"="5BK,2A3%)<$ MC 2,!.PI/7(;O5J46:M=':OETQ&Y]VCB7F^G"E1$W/ &DVFF5P M655^KP&-$Z (4 2H!4!U"% $J"T"JE7&'4Z (D!M!-0AG2AS/.=_?$\B[\?I MD"N!&)O.1*BTGG]<590!GJ6VJ%;-]#QFWTZ-L4DG=Q VJXI-"CH1-BN)3;?A M4L8!8;.BV&S60M^L?:C#XS.]5^HOS.W<8"J9(G7K0A'_3@ M+7KR.1XH61*@"% $* (4 >K9UNXA'6)-@*H^H-PR[I/*:_L''Q7Y!MI[G'I) M&L.+F3?A\5BPDZ$(Q4@FC]5#J)FM6C);I7*V*OE1ZH?-&IU^2O"L'SR!.BET M1]BL*#9=VLY"V*PJ-FNAZ%"(JNG&C_+:957)\)@X MCS!%F#H.3(&907YI A0!B@!574"U#@A0QQ/H^"S&/- )3#J[:1(%OHC9E"<) M_*,U>W9LIB=%.XZ&+ \,FQ3M('@2/ F>!$]:V0F;]<)F/?8JU2[@<1GZT=U4 MP%W1B%W\X%,NV2<<\&ULDJ\F%LE#?!$^")\&3X%EQ>):LJE Y;-8N[G%R%7K15+QC 9I' MHSB:,O%G*I-[-A7))/(+YE(MS77*>CUD%JPFIJB$# &*2(HP56E,$4D1H(Z< MI(XG]F&4?);PGPR:+3R]I9L/ > LC,+3WRXN?F?<_W=JXR+F5#\8"BY#G005 MB\3<+1,Q?7'8)(I]$6])LN&4*O+UX&.;X>WPF8C"O@Q2/DE$3'HL70Z$-4/"C=!B(' ME MQL<^%*]8!=?.A^J770[#UGN]-3)P&ZU2^U8?Z_E^)_-X_;DDMDB^/$9^*&*[[;R2 MW0CV1)@+,6OEM=R[[=?(DQM&5.],@DQA"G"U"9,#1RW?TAKG];I?TWX,!#Y]_JO_J/OF7\L MM#"0H3BUAH?;:KX]+S39$V$BXMTT^M6;L')VL/X[B;.'S/A8G YCP7^<\A&\ M\ST/[OB]>K-N!)_2\NW,M_YX9]XPC (?'G'QKXLO%U?LYO+#/Z^_?O[ZV]7E M=X==77]HE!K@G37SV^6'K]MQ8L,*'; M-+RG!9QY(@CLKW]_TWRC/P/=>MGG-=V^D5,PD:_%'?L63?D*_T]Y/):A:1Y/ MDRC[PBPG^IL[Z2<3N!HZ;X-I0/(!GRGQ/ON/E6EYD_L9Y@M"\\UF-X1Y1]M] M>_YFA6_M^Q_XJ>1M]++*OVRO'JM]J4ZN^\(]+EO5K;:W$M],8B'8%_AZHM@E M4*!_Y#IRKY[S_-^"QQOGMZ(^Z/YS^]K/M!]]]7N9P&,]>,2)#%DRB5+%0U]M MV,7W]*C$#@"P.D;E4F2VAY>/PA/3H8B-S+1=A[6:;ID"4)IPR3I\Z*2,$#5J+#AKY1_94$9'_5ODME MY3\VO?L-=;@#QVV6VIA:M9KKE9*S*FV/(1G;LXRU>TY_0#)&,D8RMBL9&YPY M3;<61Z:3B+V&B!W@[LX7R-^^-V/W^DZSO57IK.2&3A)=6ATKN3JV!GVG72I) MLG++8^U.UKI"SY10#_M0#CRA\L1UG;-FF9W]JQ/RD@[MLRYK#3C^T%'8#@H/)ZSPWZ/ MHUNI9!2RDZ$(Q4@F[]@HBK,:Y@G_*5Y\(MAA5>UWFTZW7:J<6=6,[F-V;-45 MG2>#[E9#DH?#R83F^J'9'3C-4M4JB&L)G3M'9Z<-YA8E@! Z*XG.LS.GYW;K M@,[:!8<^BEDL/*EKE^G3EODT@O[\I;^HI5-@T'/:I7+EJLJ(QT1\%854R^FT MRC@["5($J0V0&CC]]G))&8(40:I\U]K=GM,M%9,A3!&F-F"JUW*ZS3*J?>4U M^(./EUP4-'D6C9C'9[I\Q%]XR&L2>3].AQQ+&GO1="9"-3CB46S^5*B:2>Q\ ,G%ZI(^:KRH['1()5 M152W15YN0M0V#8_6H$Q*+"&*$+7!6N@[G;Y+D")(;0]2;:?M'A*DCB=J\GU# M9.2X;-"SKM/OD8?D6%CR -%)M;@(G15%YYDS&!!W$CHKB4ZWWW/<4GNB"9X$ MSU> 9QO6=HI^5-$T^B94$J=>DL;P8N9->#P6\[WXM334W:;3ZI&#^C"IKYJ0 M.FF72BEMX@B07F/>D),9%3F,1\$0'2]2+TYX.S%CMM6I1U(#\*/6#9JO4:8($38+F M[C.T!L2:!,U*0M-U!BT*C1 X*PG.EM.OQY:ZV@5&/HLQ#_36>;VO?A(%OHC9 ME"<)_*/M(E9+"]UM.LU2SNRJTN(QL5\U(?4??^NWW%:9(\ (4X0IPA1ABI8^ M@M1!0JK5=IH#VA12107_,O2CNZF NZ(1N_C!IURR3]B?(]P:4GXUK9PA2EX2 M@B?!D^!)\"1X$CP)G@3/BL.S4];JKAPZ:Q<#N8EYJ$91/#7%L;:1#59-#)(W M\9 )CS!%F#H.3'46$3D+G[HNS#9QVM\RF M8D(GH7/WZ&P[K68MN+-V\8W/D5(L"ID,;\$LPERP>H8W.I35>J!<5TT\46B# M,$68(DQ5'5-=6O8(3MNL)'!V4&?&'$]DX^0J]**I>,<"U.A'<31EXL]4)O=L M*I))Y!X)GA>'I M.DVJT4;@K"8X:\2=M0N2?$W@ARQEC)U(8VDY+!0OM:6JB46W6:;*:E79\)A( MKYIXZM&I#(2G;;IT.F7XJ3Z.FV-"X#"*?1%G/7%G/YF* NFSOS7U_RJ*4-=I MERMJ^DAOB1,)D641V>V62JZN*"*W'=FIK/%QX?\[57@2R>4_KFX^7KQX"MLP MA7Z4#@/Q(L1N'%;[-KQU#VCY91?C\RB$'AJG4L.Q-;%ONX.RM25*C\I^$4 ^ M,V('8H_5XF\%AOU47) MICP>RY>>'[!3-_K6NGY69C?$3B.16^O:6XH#;;VO!7I:PVI[@&\9[:T4?$OV MG,!-X"9P$[@)W 1N O?1@+M,P+JNX-;6XZ\)AX;EW^N_A:8%,A2G$Z%[[K:: M;W=CS.H_^MOYQX<:41@P3V#EU9TUZW6;L.+3T'\G@V>]V/_4&S]ZD/ M-_S*-P_^4SJ]'<^&_GAGWC", A\>\8<2>&K@=12>_G9Q\3O[)$,>>I('[(O@ M*HV%*C5)N_/$O'(#KD*&;*-/#4DB-HNC6XGDPT;Y0$W-0.FB6VS(E?"Q$M=8 MA"+F07#/N.>)&;I5X#^B-$SP[EDLX>99(!23\.")8'^$$J_YGO $OL2#'*?0 M(H^S$YR7=TYVL*-I 5R2-0M:4&Q+ C")/&(\%"Z,$;A$S^&^L':#;$/MP MM6!W,IDP/>DGH9W^=PWVA8< >WV:9*K@-=E/JQU6CGY@870V7@>_I2$0M$KP M&'K\OQ=-L4TLFL$HZ2&!"], 1I![,98^* X6#$3DPV-&45QX/#[&WJY'P1>> M5-B2*?\!MYG+9P$/0WP(7@U?"(\K\] TGD7*-LZVE(F?PDL3>2MT^T2HS'$Q M>"]<)6YYD,+TV*GX3U5H#+1#'R\# ]M@-Q.AQ$,C9Z?&_FXV(IEB#WF'H&'Y M!?-!,BZYPD^A2.S]:[_$=C$U@=RM?Y _W^ Q7,K-3"F;7M!C&0,*< M>?J441Q)$#/FI7$L0N\>KO4F/!P+%B-^'<85\Z7R4H7B,!2@8#78<3-)0;!@ M/*2X%59,DT?1$HM1(&#@<]Q%X3A". Q3!2U7FD0XS%\(G&-E/X A5UH$X#$H M :,TL%(G%<"+&4GDP;V2FF\2F$@_IZ/LR7HFX8M[-N*>#"324_:8!19\5'PS M*4HFD5ES9@(:JQ\52J$6F(<'*GKV*(D0=2M;("6*U7J174,XR PIHAS)5G;L$@ WH)'+TN^SW0UB#DA1@ M"?+IK%M.LN?;]FQ>NQN97C#A*M,-X/7P "\*46#SK@CN31X8#M-N>(M,%ALR MB^(D6T SV5H8)V6D&N0D4@FP/KPZ@:$P)*%%ZY_"T$.=DA"%&U,JPF5=9)[Z)P'9 H5@MS?B=&"I0 MR4B("D+$M<:@-5U' R(?+=![I5EN#.,A8F"PIT:K>5")U&I@FF!GK*KPOF)# MKHUVYHD@L*Z'O[]IOM&?%2A$V>''Y.HMF;9_D3%IQ,3?/2$NXND+7NL_)*H*'GC[3T-8S?BRER MVU\YL7#OSU0:0PD,E;'$6>>@PK=@I(8I6L6^HBK M K3MGBF EQP!,$-"'@>]F+]C2_@40S1 MO)Q- [!FT_%D8P.91$I"QPETCJ-EJ^U+;6]/EKQ,,RXUJ>4ZE9C.@NA>:!\5 M7#R.\0$^6K,C+F.&IJW0'"L*?D=MM6)K,K[4IC-+0!+PK?HACF8_) %C'FNG MF2XO&@716.(+P4;YM[4U@;/2ZHV2-O:,Y3]R:5:-@EUL7@B]'P-9PI25_$ZT09 MBN(2H!<%?,8=OT*@UXJUZNBA M+!X7^BI%>&+A_"_0*JJSYZ,.*X$N8 M)H$B;F[6<1)=^LSX9K*OE8J F_ EFC]4@J[[L?08ON 6FH&$7HA_Z45!69=D MP1.PL&;)$*[%V(&"%2?3O%.\"FDTTAYAO%^SEV]C'=:WY(NIT<;-=\OM@X43 M?UVT)C1[9<8)7B<7[(?%<A_MLHYA'-&CL(:PRA!65BRN&G M!-&W.A1%0)H7YS[5I8B%7L7FP2U:26@EV=M*\@W(*4X]T"Q1CKP)C\>B["IB M%XV=^&7B=>V>S.;-/"X4'[3<3D1%^ M(3HK84E$:P ,&Q-0&:6ASW%T>6#63VLW(=ESE13X-'-W96-$_$K\NC]-?K=3VE4KZHH3YDWQ L]'N M==YJKOK"[_&M_9>_M?/X6]V6?>LG,8Q39.DG$!0EJ6*2ZG+ACNG"ML95I#0N$9C(88E3$, ACW)[X;F6L M=&[RYW*U#9-Z=%C(N/$4YF9"TTVB*#[0/@@T&WORDTZ=U.J=8SR=PWNCLMD@ M.W!E/'?GBKES>3X"NL6@7X"R8[6UF]5^8.LL#9L4EF7>A2:/A?8DY![')28O M#)"=IN5'6/70-RIA;A_F>F%FUDJE#5>P@%%]RV85+_.XFNC?HE"['\R"LO3@ M>:;6?VI7!^A$.A&GX'CGX?V"05U4*S-+>;HV::_0CJQ;4F6Y1'EFC$G36LW. M*J:*/IU<2"DCI>PE+?U-YQRBK.#)3 .7"YUNK$2+%I*7"I["I\5VBG&F>03&)-":")FV MI6\U;8WEK7;C2CWX^B['=LJ'C MIQ/X%M2(*4\2[:$N'\;9I0/.\D[!9Z:CZR));%HO"&:@.V8ZHFQ0-7?\S^)H M!&)J]J_M*$HFV0T$?CAS8L _:;S_Y,>8P4"8U==-;DR9O6R:QS6[!O^NZ5CCW, M'U)E&9B/I6L_R!RXD0BF4.<:/6H8&>\^,40=&>*0".$&0]A:1S:YP1751=:I M$DIG?:QD2FB?"UZ6+'8-'C&.^50Q7V",S*903U$?64X!,UM!LWP_Z[F: 17I MC#^SJ]8T"I^HWQCZYH&+X3>[*]0$W_0V.C#![B;2FRQL7D2N2S' ME<]1\+,I,L;H^Z)CS.@FFWK8,+GCR]D.)@MA9; R1[),6,"]'R:A M(8X"AG6'- DM!O&U3SU_5YYOG5F*JR_8S#RD8!&E5)E2$OZ3B='(;H=8M\?4 MN%.LWQ;C5+%(S'TZW6?/7+-I9RRJ5UXLAVB<#5&U,E$_W %B,I&XWI^%W=![ MM[) V5,'12KK!(?+8F&B5E1,9Z5CK:LO?F>RRC#$W3RP[,1FJ63! :T8QDB#H=?K#J+!S M19>Z0#U)O7.8Q!V$]ZM:I%%B9[/@/C.P-P(.?I3Q,N,6YL66UK!O6-C'D8U$ MDL#\IX; ;"KNI@38=WG&_>"W&^/J'Y?#70"Z\Q895YJ 4NVTE<)7ML(>EZ(=@#+09&E6J2 MN8QY:-RLMJS+>F_K^;+KQ0[ ?"N.;I7 =]K%+:\ I!? O#80U]X'$_E&MRJ^ M$?Y]1N+(<5'2L@MKSSKB(U1IDO1MN2#X%M,&^5A;;S'ZI%*Q53V!8+):(:\J MRT,55ZM"'<$'5BA0C4^Y5HUQ/:C _)[6K'E5UZHL%]M3E J]A)'7U0R' M>A>?])AI,>I+MZ!!C;5CWY=!:AA^.@62T:.BT(+7M8:!(1KL'^MO7KU4&_^F M/FE6#7'CR ,1!EYJ"P@VV$?;C*>^)5]/9='+MO;A^9)K'Z4)[D[7G!QBJGT@ MX56B4#H&2V8AB>?+ VY\8!/AC\7BAFTM;(;'(QN%#6TEQ)4$?^T\*;,C"8D; M-PDUV!^%?0RV+_/6FTT.:QJ9!3BRB@%Z.\ (%V8<2_L<6ZYUE ;!_6D&B96A M9%B1-C#E;/&G_.T-]L_H#A3NV"GN#K"##&N-T'5P8+A#,9+)/!%YT\!BG\W- MNN@G:DK69PLML\6R=209!B+:L,F 9T46]+Y;#0&I\B;,RX 7=Y#>2G&G-QVL M#2.S_X^3:K>X9-AX< )A6'4)-)U]5)A+!T8RR,K1F$$MU,UOGZUREKV5;P145MJR())] DB_S9U:/*Y>[5QU/ MZ*NC:1?H^;#F# \'11HX1OQT"DO3@X40MU1Y85ON]-]M+6!MC,"J $!)3 (F MTMLL3YG*B;18TUCGQ)[J^E?1*+DS!@ HF9&YSZP6\X+[>@1P3W:,#*@S-1R; MN6J4S,*&1-P*?&H*\2Z<(% LT6,*0S=JPG#L^=L"HBITG._3H?5V:IW M49;[8=<8>.ILYR.B1\ X?ATV3!-SI!"7OH.U14W1,5PX&:KFJ5HL1E9?H7V- M)> J/V_GDU4O/F3G[5QF>L8W0-2>I?*;(6B#NBRATJ1G&XS9 YH*<:\)6%P, M[-DDPC.N GURA@@72^7J3$E,HXGBA1*#*U5C&^P#/#/+QW[P/ W]7OVJK.Z? M.<>@8(*;4D_VT!MM6=H:5,)6;)C?.;P'\46MU_8*Y/&1@Y$:.)/P'9_. N&8 MBE5%Z4O3:W?.\%_B-#1%Z!7) JDKQ?/K)=V+87F M_-'XWF ^&!X\MIX4T+Z-:9WWHZ&!#___A\U576RR<5<5O0PCN"W2B?SS0[WF M!_V<)M&I987"<4/.QE(*RT>N)!/Q](.FD*7C=? 3X<1XK?!QB\W,AG;M82YB MGE>FCRB:EX30_K&\)N-RU45;4$./=*'YV>;TQY%1/.I%Y4XK6Y<238[ .'2R M&F!VB+.VISHO;@I(G>"6!.O/>.R=\P7,'-:B4X?MD^?U@?.S/*Q1E.RUNL0/0=S6.S/>@S_#,V5/$-BX]/ MV867['5$[7E*IC8CR,>O($%(=783*6 ^YT>0S$S'Q/67*6\B_#2P ?[ >&@C MG]_KU<_4S9@[/?@P D70UD(T"V9V:"%N#3-4.C],K;@-JK ,:'^"IHC\,"RL M)7\:1-$/8YGDVK(^RM&>V)@M$HJ/0(?@\5"?1Q7=ZL,?E0TDW#QCSO"![F#0 MR8XY67JWZ6Q> 3);;L9Q=(>5JK3V@*9YMI7.' ]W@6K!?&U!MXG1Z]$]!=.G ME1Y++1APDK X>3GAZYUN#XP'7RQ*E1VT,E>>S!JMYCV:Z^Z!G$KC!W.P8DJ0 MFJTPD=[7EKN1=%71,(QN>1:P,">:)F@LF"A&H:A5?L:IS IMQC^P,#^LL4-3 M,%1'F+Q80Q-?55RU#2;TU_-S\E2VRQ ]H0''FO:9=6*]4UGCX='V!U!O[G*O M882CK<&.UZ:A9]10#02C]'2Q M9?F-\Q&+K!JL2Y=FH#HWEC?( :XM=N[."RI*0:.(4'7,%L!9A < X!56&(MU MJHNNO0P/^8S-3^>T4_8A+XEU$88(W6]ZI44-ZQ,*BML\_9=3H!*S$*OB[__/ M*18;CSQ3:\RNE5;/'\D@VZ>*;_U^^>&HFJL4V&!V7'4-;(T M>>=[OPIGAQ1(6=^@=>Z1EJNL2)NMJ+?ZAGS[!#")].1,JT$:.84*\(4]LP6G M@6$Z8T<8%MO8$A %HV<5HJ]W$X!']G9]?F9@8Y7I3+?W<6:$1NI ?03&YSPN M;,_43/(R\AJ,* 0!EU-LV#V+AD&V.""E1/"@K&+\ R^TQS\BLP[U1CV)*N=, M5["?SPS>M'YR@"X6YP:;HOM:&&RK>3\P990%M#8+J+\F"^A_91^&D7__7__[ M__PZ2:;!?_T/4$L#!!0 ( (B 2U!5A0>[CQ8 'B? 1 9F]R;3@M M:W$T,C Q.2YH=&WM76U3XTB2_KS[*^H\MQMT!,9ZMP4T&[9L]1(S#7W Q$S< MM[)4QMJ6);4D@[E??YDER9:A2@8:&C?CF9@!.^LE*RM?GLPJB>-_+68AN6%I M%L31QY9ZH+0(B[S8#Z+KCZW?K]QVK_6OD[\?_U>[_>?@XCD3_B]&MP0]OMHE-RJ.L34U?4WH1JFN%KNNUIAM=5 M3&.B45^=>/N+0UV=4%/M6;;?8X;N4]H%ZL3O66QL>AXSJL%6LWOE[/,,^"RG M)\MF3IS:HBD52P5]FL-Z8LJ5LF[A9X[2SWE]T6XS0\R)AW M")OOA9; MI;*XWZIIH,UA7.PSUN: W7H$)]!*,!!-)3( @J Y6WA3\5Q($72(O60BB;:< MU+"VYC5)W?<&URUWVT(O4!*$(=@$^="SQ[T@2K<&7>2*D"#K(,BUA27PFY"@R2=;T;FDUSM/93*8"D6 /,B3Q;%(+2&B MRR&)%(](4AE?E,@PF3=E0F]:!^3R<++>2.2\2C 6Q]YM,US#%A)<(DH 3YIS>A)$X6A?!H&5&*6)5'B_]CU3.[_@-BT MWFFRD'H_&[B?03W(".25E;$D@(U%D0M+12M+*C"<'DVE9A#K87$GB8'.2,5HH4:MQ9@F^8FEAXZ]T>M+5B9Q M:I'0J4$DEF.)BBH*@,'D1E8P0)(X+0,;6T@,OZ)*XHJHFE6)3US- MYOOLG7 M=?--6IH2I("KPI0H!>1AIAF9-Z'R)C0N0.$R5"5&4U/FR9)*)(FV-O9DV!(H MPL@HB!I%2!2F0GABT@2YQ"?Q0>3E="%9.J<).B6)I'@&A ;'NK$^(_8(P0)@ M&//6O,)J.ZM"8R=/:91-XG3&:\4XCME6>FML1)+H6#27Y):-]Q1J$%%]P+78 MCVUB66MKEB"_W)2[USBYI]G%Z;$45(MS$R9#!4P("?!45"(EH'0>GH\&]%IV M<@04DA..?;Q./;O3H[]X(9D^5T(6S2!P=H3.@O"N\.K8,8R MMTB >R*2[V\[2J& M _\:UG!HV8JAZ/9P-#145>FZ9L]PNNW;K^U'-6R1(J1];$$,/!S'L+,TFM P M@P7P'\>=-8:?R/\H H'?.>@;:7@:^6SQ*[NKK:,_ZO=,NSLX?=/M69:Y7,>FAJT315%4I6=IFO: Y9;G9RC'4[7FJ845@#X07R MPRG/:[#(V:[*FP>+#%6=DS&I_]C*@ED2XC9WULNL 69<;GA%]4WX([ANTG 4L*G8D*(Y9S^NBZ)^YWY')W[DY1S)""N MV*_/FN4038=@YR?((^(=5:VZKVBU#J"NDN85I<; -U3<([K6L6:SB._: M4X;W@P]53?G'0Q,_SA(:B9Q#$$&^%N2"'N.T _-AOVK:VN0%<2,?* B(A\%U M=.@QO M\A,"Z#=^F8!"'D(;-:'KW_>SRC[?%Q.,X]&&(W\].KT9#A/Y]_]LT\CXIQ__GQZ>7EZ?K9M'/]! MLVD07>=QM$^&!\X!T133L-^42Z&./IL'X\D\&&))N><7GTG%5/'_]7"#]NZK MX%LL0]4M9BG+ #$:NKIN6I;F=G5;&;GP0\5 -W!U8V!8O7I4JN! #3S<"V&" MQ30RWFO_NI3E_>"S6LWW"8>\Z6Z]K,9H3^9!$PL%?,'%Z.R*7(R^G%]<;1MW M7^9I-J=13O*87#(/"P=$U[W8:Y*P-WW@,#/[9/3 M,^?@Y<*B9.:W5H"]T0*V@0L9]31="I?0C&0)\S#O\DD0D2#/"'AW4-OTPSO2 MVG+$6O^$^OC$:#MDD_Q0219%_R#"+)1_KD\0H:<+CZH^>9S@D L<,J?CD!&/ MA6%)_=A26OPS>NOJ\]/+-I X70=1P1Z=YW'U!7]*M/CF-O#S*;2&Q8_C%!+/ MMA>'(4TR=EC]4I<*#L4YA@0U]\&BD,/H8\O$W#/W\7_IDEK%'3Z%9OSCJ&IT MGZ;JSH[4-U6!SZKM5_URT7_NJ$*I6[&A- M25Y'KQ_A.U5U559RA_JP;[NN/E![CF7:MC[$LI)FF-#2TE]NN?OZB6[V>W;/LD:#H8(:::HJ MH$NS]U CW2!D,/"8I9)0KK2UKM8U=\KUUU0N?:5<6GZFC7-:.N&KNFJ_7AEVQR$0.H_SY;L\9A MXI3PZSSD/Y#99WY0Y/Z #X-Z_/BP)?(2][^[P+M!.BM(9+JV#7BH9SN:X_8=S1C8J(6Z:CJ. M:2F"#+"4#H_SY^D72.,"?FO^>:G?9YIEU)O.,Y;GV:NIZBN)<56%[/4-PQY8 MJJ7JPVYOJ&@#QT$Q:J:CN[9N2,7X)0:1A/\;)/+\^431 )^^-S/>*P6 H#!) M086"A(:$+9@WSX,;K"5"^&'9![('PB$HG7=8-'PR#ZO:]3]_Z6EJ]R@C.0M9 M,HTC1B*.P?818X=SA!"$IHR"3OGLD.R]KBW8*X=KV(H]@(R]:^N6Z^@F>EFT M!<-P-=4>=>NV@#ZV#TPV:+^E=E]:]S^\LF.P5_Y5=7N&:XV&JFWW];ZK.&8/ MCR=T4QUJACX8U(7Q6PS@\0MN96.6:1B09BK*IB.O-_,(/_Z@E9>?7\"ZG"GS MOA+(6PE-($B!6\)<=APOR)A!-D&""2>Z$-1(K_TKF00A6EF0$7Q;8>0S'T^Z MLV V#W,:L7B>A7YXS[)#/ :V:942(Z%V;#*'<5)"H[N*-HE#F!S[ M8> ,,.?*R%[&&/G$(I:"USR-H.^\R+'[!]I!P>Z'PS<5YC:XRU>XL[$[YQ&< M\V@;SWD:CGEL:TN.9![OP_K@&4+R>Q1@;"6?+R7N;T.4X=" [Q77 M5+O6T!B:3K^+<:+GF*X[<->RE#] U\'=8 EF'I4Y>O9( (Y7G,<4'$H.;@VK M&G;7,(ZVNS;^"LZI%"'(K"Y#DM0N+%W,P2@-S2P=*X%T33 ME0-H*"V1_&7T6==7N,?L#GHCQ5#LX=#L=RUUU.4@T!YTW=%HM(9[+N,P\$"L MT?5GB+?(RDZ9GZ+,*_F162G AYJL&K2M:C5E7KMJMU1E0SDH6NZT&6#VTCN# M;QYU#=V-/SQ.QXNV.RTW:\>C_7[7L4W=4O1>S]$U96CR M7'5@&^9 ;=3RTRR;LW2GZS],UW76-O:\Q^EZV?:]'N&\6!A=H;LB'6@[B?G>)]B[)%22Y^L8D5W_FA45#VY(,^,<\$':%#R$7E]J]*?%" MFF7;Y]I?<_TIY=7YR[L9?+.7;KUX43TR\Y_6=T/Q$!D+Z5W /C-\HO'=<$F0$Q@?4 MC%'_FERG\6T^1?R&VO:ASP!U@2?( %;SBNAE.U<5L3#"AZG'$Y,D+S5;_:V =O*G[11;>GL%#' MAY9F@+5]U]E@P=1(O+_KO#XBW=6U55%''1HCUS6LKNLJ7<-V35WM0;IKJ%T# M$N'U=+>XLU%Q\8DSX10\/"_3_8ZT?IDDESOTW4^6?<_Q[[9HW0OHV.FDP9/@ MK0JA6PH>'.!.P>EP=P].)XIYXCC/&&\%3)?'Q/@VM8 GD\5;0%!?^%SA'4[. M_Y @.K (\AZ@I.PFR* ?N#(:>:@AU.-OHL/&^.)8GZ9^5AP0^^*LM?14^A[] M4/Q:NJNZCSIX:% OHJ.R@?X ]C$T9]NFCF\?!<4 E78LY6?3\M=Q/A07"'*("DBW^;\06J^G?A2!%+$ ME6>S-F0>PSMG10#0^4I5^]G#'1#^9H_)/ P)?]%7&6P2?N4S9?BG-QE@]VQ> M('. 4%%97.6AC]_!*B7""^( CR?S- JR*72@B*RGP3C(B6T?J!CD.(!V^)O^ M\_(U&5A3J*YJ/0%2_Y3ZC<(.HN7K65= H#H? .DLKZWMK2Z(UL7X@613 *@< MLXP9Y$T@>9^T)D&(KSE$_0-4D<09XRYE60OO/3KOP4:M.JGU8?F@V"W &Y+- MQ__!-)GO)R/X5WJ"L!B1ST%SDA73[@.7:5_\4/3U7VL5S%$OYF [;@JHSW^UB.P@&EA>G*%QYXZ_-FK5U<9:6; <=/>:5[W$XY&@:8]41./0X/>0FY+KKK^PM05%F53Z'/I+D_;5JY W'KSMBFT_\O7.KY%Z M7)Y^.NM?_7[QQJ]QWH9ZZ&+]I,.?0P[LT3F> M3O R0_%JRA+$9[ $(,3%V__&#)#^!/-D'(@[C;(!_N6G>01]^' +*=Q"LS[ M;WL4N@/_/P;\&QO!?[?A8ET#^#<4.4W?PDMW+X8),08>;@F.>(7UR:/[#A+^ M9%NY^QS[NU[M;ZDFO=*L-][YNZ6]^N9KAA_9VL M0T;^+4U]\MG[%-_2K2L=;M.F[]:W6]^/.*W9&>1.87?KVQZ#=*8!F]0NK9SS M5Q*F/^'C.UMSDO&WZ@/_L[-_/^9_K/;D_P%02P$"% ,4 " "(@$M0&ZF' MFUT# ;$@ $0 @ $ 86MA;2TR,#(P,#(Q,BYX&UL4$L! A0#% @ B(!+4"YK:+ZE 0 M\P4 !4 ( ! 4 &%K86TM,C R,# R,3)?9&5F+GAM;%!+ M 0(4 Q0 ( (B 2U!^WU:*B @ !5: 5 " =@& !A M:V%M+3(P,C P,C$R7VQA8BYX;6Q02P$"% ,4 " "(@$M0I2I)VLX% !) M+P %0 @ &3#P 86MA;2TR,#(P,#(Q,E]P&UL4$L! M A0#% @ B(!+4%;':;'0B >Q . !4 ( !E!4 &5X M:&EB:70Y.3$M<30R,#$Y+FAT;5!+ 0(4 Q0 ( (B 2U!5A0>[CQ8 'B? M 1 " 9>> !F;W)M."UK<30R,#$Y+FAT;5!+!08 ..!P ' ,T! !5M0 ! end XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } EXCEL 13 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 14 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.3.a.u2 html 1 95 1 false 0 0 false 0 false false R1.htm 0001000 - Document - Document and Entity Information Sheet http://www.akamai.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports form8-kq42019.htm akam-20200212.xsd akam-20200212_cal.xml akam-20200212_def.xml akam-20200212_lab.xml akam-20200212_pre.xml exhibit991-q42019.htm http://xbrl.sec.gov/dei/2019-01-31 true true JSON 15 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "form8-kq42019.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "calculationLink": { "local": [ "akam-20200212_cal.xml" ] }, "definitionLink": { "local": [ "akam-20200212_def.xml" ], "remote": [ "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-eedm-def-2019-01-31.xml", "http://xbrl.fasb.org/srt/2019/elts/srt-eedm1-def-2019-01-31.xml" ] }, "inline": { "local": [ "form8-kq42019.htm" ] }, "labelLink": { "local": [ "akam-20200212_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml" ] }, "presentationLink": { "local": [ "akam-20200212_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml" ] }, "schema": { "local": [ "akam-20200212.xsd" ], "remote": [ "http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd", "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-roles-2019-01-31.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd", "https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://xbrl.sec.gov/currency/2019/currency-2019-01-31.xsd", "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd", "https://xbrl.sec.gov/exch/2019/exch-2019-01-31.xsd", "http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd", "http://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd", "http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd", "https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 20, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2019-01-31": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 95, "memberCustom": 0, "memberStandard": 0, "nsprefix": "akam", "nsuri": "http://www.akamai.com/20200212", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "div", "div", "body", "html" ], "baseRef": "form8-kq42019.htm", "contextRef": "D2020Q1", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "0001000 - Document - Document and Entity Information", "role": "http://www.akamai.com/role/DocumentAndEntityInformation", "shortName": "Document and Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "div", "div", "body", "html" ], "baseRef": "form8-kq42019.htm", "contextRef": "D2020Q1", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Cover page.", "label": "Cover page." } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r0" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r1" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r2" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r4" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.akamai.com/role/DocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r3": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r4": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } XML 16 form8-kq42019_htm.xml IDEA: XBRL DOCUMENT 0001086222 2020-02-11 2020-02-11 false 0001086222 8-K 2020-02-11 AKAMAI TECHNOLOGIES, INC. DE 0-27275 04-3432319 145 Broadway Cambridge MA 02142 617 444-3000 false false false false false