Revenue from Contracts with Customers (Tables)

9 Months Ended

Mar. 31, 2019

Revenue from Contracts with Customers [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

We disaggregate our revenue by region, type of performance obligation, timing of revenue recognition, and segment as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2019		2018		2019		2018
			As Adjusted				As Adjusted
	(Dollars in Thousands)
Revenue by region:
United States	$	54,022	$	39,735	$	134,774	$	130,561
Europe	33,665		36,662		109,085		98,673
Other (1)	60,297		51,361		158,717		130,541
	$	147,984	$	127,758	$	402,576	$	359,775
Revenue by type of performance obligation:
Term licenses	$	98,493	$	79,073	$	255,616	$	214,938
Maintenance	41,878		40,897		125,955		121,890
Professional services and other	7,613		7,788		21,005		22,947
	$	147,984	$	127,758	$	402,576	$	359,775
Revenue by segment:
Subscription and software	$	140,371	$	119,970	$	381,571	$	336,828
Services and other	7,613		7,788		21,005		22,947
	$	147,984	$	127,758	$	402,576	$	359,775

____________________________________________

(1) Other consists primarily of Asia Pacific, Canada, Latin America and the Middle East.

Contract with Customer, Asset and Liability [Table Text Block]

Our contract assets and deferred revenue were as follows as of March 31, 2019 and June 30, 2018:

	March 31, 2019			June 30, 2018
				As Adjusted
	(Dollars in Thousands)
Contract assets	$	673,454		$	645,000
Deferred revenue	(43,727		)	(27,504		)
	$	629,727		$	617,496

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

Transaction Price Allocated to Remaining Performance Obligations

The following table includes the aggregate amount of the transaction price allocated as of March 31, 2019 to the performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period:

	Year Ended June 30,
	2019		2020		2021		2022		2023		Thereafter
	(Dollars in Thousands)
License	$	24,904	$	39,658	$	30,468	$	9,423	$	2,502	$	1,451
Maintenance	49,261		174,031		127,876		85,991		51,340		32,662
Services and other	32,248		11,834		853		651		381		91

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

Impact to Prior Period Information

The following table presents the effect of the adoption of Topic 606 on select consolidated statements of operations line items for the three and nine months ended March 31, 2018:

	Three Months Ended March 31, 2018
	As Previously Reported		Adjustments			As Adjusted
	(Dollars in Thousands, Except per Share Data)
Consolidated Statements of Operations:
License revenue	$	—	$	79,073		$	79,073
Maintenance revenue	—		40,897			40,897
Subscription and software revenue	118,126		(118,126		)	—
Services and other revenue	7,745		43			7,788
Total revenue	125,871		1,887			127,758
Gross profit	113,095		1,887			114,982
Selling and marketing expense	25,924		(678		)	25,246
General and administrative expense	14,430		103			14,533
Total operating expenses	61,938		(575		)	61,363
Income from operations	51,157		2,462			53,619
Interest income	23		6,281			6,304
Provision for income taxes	11,756		2,073			13,829
Net income	$	37,835	$	6,670		$	44,505
Net income per common share:
Basic	$	0.53				$	0.62
Diluted	$	0.52				$	0.61
Weighted average shares outstanding:
Basic	71,828					71,828
Diluted	72,663					72,663

	Nine Months Ended March 31, 2018
	As Previously Reported		Adjustments			As Adjusted
	(Dollars in Thousands, Except per Share Data)
Consolidated Statements of Operations:
License revenue	$	—	$	214,938		$	214,938
Maintenance revenue	—		121,890			121,890
Subscription and software revenue	351,540		(351,540		)	—
Services and other revenue	22,014		933			22,947
Total revenue	373,554		(13,779		)	359,775
Gross profit	335,957		(13,779		)	322,178
Selling and marketing expense	73,875		(1,185		)	72,690
General and administrative expense	42,284		6,904			49,188
Total operating expenses	177,022		5,719			182,741
Income from operations	158,935		(19,498		)	139,437
Interest income	204		18,645			18,849
Provision for (benefit from) income taxes	43,561		(107,242		)	(63,681		)
Net income	$	110,668	$	106,389		$	217,057
Net income per common share:
Basic	$	1.53				$	3.00
Diluted	$	1.51				$	2.97
Weighted average shares outstanding:
Basic	72,402					72,402
Diluted	73,136					73,136

The following table presents the effect of the adoption of Topic 606 on select consolidated balance sheet line items as of June 30, 2018:

	June 30, 2018
	As Previously Reported		Adjustments			As Adjusted
	(Dollars in Thousands)
Consolidated Balance Sheets:
ASSETS
Current contract assets	$	—	$	304,378		$	304,378
Contract costs	—		20,500			20,500
Accounts receivable, net	21,910		19,900			41,810
Non-current contract assets	—		340,622			340,622
Total assets	264,924		685,400			950,324
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current deferred revenue	286,845		(271,695		)	15,150
Non-current deferred revenue	28,259		(15,905		)	12,354
Deferred income taxes	—		214,125			214,125
Other non-current liabilities	18,492		(1,424		)	17,068
Retained earnings	305,208		760,299			1,065,507
Total liabilities and stockholders’ equity	$	264,924	$	685,400		$	950,324

The adoption of Topic 606 had no impact on our total cash flows or net cash provided by operating activities. The impacts of adoption resulted in offsetting shifts in cash flows throughout the components of net income and various changes in working capital balances. The following table presents the effect of the adoption of Topic 606 on select consolidated statement of cash flows line items for the nine months ended March 31, 2018:

	Nine Months Ended March 31, 2018
	As Previously Reported			Adjustments			As Adjusted
	(Dollars in Thousands)
Consolidated Statements of Cash Flows:
Cash flows from operating activities:
Net income	$	110,668		$	106,389		$	217,057
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	4,467			(127,910		)	(123,443		)
Changes in assets and liabilities:
Contract assets	—			(7,767		)	(7,767		)
Contract costs	—			(651		)	(651		)
Accounts receivable	(964		)	2,393			1,429
Deferred revenue	(11,699		)	27,546			15,847
Net cash provided by operating activities	$	127,829		$	—		$	127,829