Quarterly Financial Data

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

17. Quarterly Financial Data (unaudited)

	Quarter Ended												Year Ended
	March 31, 2016			June 30, 2016			September 30, 2016			December 31, 2016			December 31, 2016
(in thousands, except per share amounts)
Revenues:
License	$	37,423		$	33,510		$	43,256		$	159,277		$	273,466
Maintenance		57,331			60,332			57,741			58,072			233,476
Services		19,576			23,823			19,809			24,262			87,470
Hosting		111,736			102,265			96,169			101,119			411,289
Total revenues		226,066			219,930			216,975			342,730			1,005,701
Operating expenses:
Cost of license (1)		5,439			4,610			5,253			7,043			22,345
Cost of maintenance, services and hosting (1) (2)		112,995			110,774			95,014			103,786			422,569
Research and development (2)		43,604			46,421			42,210			37,665			169,900
Selling and marketing (2)		29,992			28,795			29,874			29,421			118,082
General and administrative (2)		26,068			34,520			31,390			21,639			113,617
Gain on sale of CFS assets		(151,952	)		—			489			—			(151,463	)
Depreciation and amortization		23,208			21,382			22,098			22,833			89,521
Total operating expenses (2)		89,354			246,502			226,328			222,387			784,571
Operating income (2)		136,712			(26,572	)		(9,353	)		120,343			221,130
Other income (expense):
Interest expense		(10,414	)		(9,715	)		(9,838	)		(10,217	)		(40,184	)
Interest income		150			121			145			114			530
Other, net		(334	)		2,023			2,794			(378	)		4,105
Total other income (expense)		(10,598	)		(7,571	)		(6,899	)		(10,481	)		(35,549	)
Income (loss) before income taxes (2)		126,114			(34,143	)		(16,252	)		109,862			185,581
Income tax expense (benefit) (2)		36,970			(17,669	)		(6,426	)		43,171			56,046
Net income (loss) (2)	$	89,144		$	(16,474	)	$	(9,826	)	$	66,691		$	129,535
Earnings (loss) per share
Basic	$	0.75		$	(0.14	)	$	(0.08	)	$	0.57		$	1.10
Diluted	$	0.74		$	(0.14	)	$	(0.08	)	$	0.56		$	1.09

(1) The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.

(2) As previously discussed in Note 1, Nature of Business and Summary of Significant Accounting Policies, the Company adopted ASU 2016-09 during the year ended December 31, 2016. The Company elected to early adopt ASU 2016-09 in the third quarter of 2016, which requires it to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption. The impact of the adoption to the Company’s previously reported quarterly results for the quarters ended March 31 and June 30, 2016 are reflected in the table above.

	Quarter Ended												Year Ended
	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015			December 31, 2015
(in thousands, except per share amounts)
Revenues:
License	$	39,577		$	67,161		$	50,237		$	94,230		$	251,205
Maintenance		59,492			60,141			59,262			63,000			241,895
Services		23,497			23,110			25,842			34,371			106,820
Hosting		110,251			115,410			103,360			117,036			446,057
Total revenues		232,817			265,822			238,701			308,637			1,045,977
Operating expenses:
Cost of license (1)		6,109			5,939			5,387			5,810			23,245
Cost of maintenance, services and hosting (1)		113,013			120,484			104,272			111,285			449,054
Research and development		37,091			39,425			36,123			33,285			145,924
Selling and marketing		28,911			31,298			28,451			40,747			129,407
General and administrative		21,575			25,008			20,284			20,552			87,419
Depreciation and amortization		19,693			20,004			20,298			22,985			82,980
Total operating expenses		226,392			242,158			214,815			234,664			918,029
Operating income		6,425			23,664			23,886			73,973			127,948
Other income (expense):
Interest expense		(10,941	)		(10,505	)		(9,728	)		(10,198	)		(41,372	)
Interest income		102			58			94			132			386
Other, net		3,722			19,659			4,314			(1,284	)		26,411
Total other income (expense)		(7,117	)		9,212			(5,320	)		(11,350	)		(14,575	)
Income (loss) before income taxes		(692	)		32,876			18,566			62,623			113,373
Income tax expense (benefit)		(530	)		5,825			3,786			18,856			27,937
Net income (loss)	$	(162	)	$	27,051		$	14,780		$	43,767		$	85,436
Earnings (loss) per share
Basic	$	0.00		$	0.23		$	0.13		$	0.37		$	0.73
Diluted	$	0.00		$	0.23		$	0.12		$	0.36		$	0.72

(1) The cost of software license fees excludes charges for depreciation but includes amortization of purchased and developed software for resale. The cost of maintenance, services and hosting fees excludes charges for depreciation.