2018 Q1 Form 10-Q Financial Statement
#000088283518000020 Filed on May 04, 2018
Income Statement
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
Revenue | $1.203B | $1.086B |
YoY Change | 10.7% | 20.38% |
Cost Of Revenue | $452.0M | $418.7M |
YoY Change | 7.95% | 22.11% |
Gross Profit | $750.5M | $667.6M |
YoY Change | 12.42% | 19.32% |
Gross Profit Margin | 62.41% | 61.46% |
Selling, General & Admin | $450.3M | $409.3M |
YoY Change | 10.02% | 30.14% |
% of Gross Profit | 60.0% | 61.31% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $12.60M | $12.40M |
YoY Change | 1.61% | -79.05% |
% of Gross Profit | 1.68% | 1.86% |
Operating Expenses | $450.3M | $409.3M |
YoY Change | 10.02% | 30.14% |
Operating Profit | $300.2M | $258.3M |
YoY Change | 16.22% | 5.43% |
Interest Expense | $43.20M | $45.90M |
YoY Change | -5.88% | -267.52% |
% of Operating Profit | 14.39% | 17.77% |
Other Income/Expense, Net | -$1.700M | -$1.100M |
YoY Change | 54.55% | 1000.0% |
Pretax Income | $255.3M | $211.3M |
YoY Change | 20.82% | -2.81% |
Income Tax | $44.00M | $53.20M |
% Of Pretax Income | 17.23% | 25.18% |
Net Earnings | $211.3M | $158.1M |
YoY Change | 33.65% | 4.41% |
Net Earnings / Revenue | 17.57% | 14.55% |
Basic Earnings Per Share | $2.05 | $1.55 |
Diluted Earnings Per Share | $2.03 | $1.53 |
COMMON SHARES | ||
Basic Shares Outstanding | 102.9M shares | 101.9M shares |
Diluted Shares Outstanding | 104.2M shares | 103.1M shares |
Balance Sheet
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $366.0M | $731.0M |
YoY Change | -49.93% | 39.77% |
Cash & Equivalents | $366.2M | $730.7M |
Short-Term Investments | ||
Other Short-Term Assets | $72.50M | $69.00M |
YoY Change | 5.07% | 50.0% |
Inventory | $216.7M | $191.0M |
Prepaid Expenses | ||
Receivables | $631.2M | $693.0M |
Other Receivables | $46.00M | $29.00M |
Total Short-Term Assets | $1.502B | $1.713B |
YoY Change | -12.32% | 19.62% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $140.9M | $144.0M |
YoY Change | -2.15% | 35.85% |
Goodwill | $8.870B | |
YoY Change | ||
Intangibles | $3.438B | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $91.50M | $104.0M |
YoY Change | -12.02% | 18.18% |
Total Long-Term Assets | $12.57B | $12.52B |
YoY Change | 0.44% | 42.37% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.502B | $1.713B |
Total Long-Term Assets | $12.57B | $12.52B |
Total Assets | $14.07B | $14.23B |
YoY Change | -1.1% | 39.18% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $171.0M | $153.0M |
YoY Change | 11.76% | 9.29% |
Accrued Expenses | $423.0M | $383.0M |
YoY Change | 10.44% | 38.27% |
Deferred Revenue | $605.5M | |
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $801.3M | $401.0M |
YoY Change | 99.83% | 6583.33% |
Total Short-Term Liabilities | $2.048B | $1.539B |
YoY Change | 33.04% | 97.56% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $3.821B | $5.440B |
YoY Change | -29.77% | 75.2% |
Other Long-Term Liabilities | $238.8M | $112.0M |
YoY Change | 113.21% | 55.56% |
Total Long-Term Liabilities | $4.060B | $5.552B |
YoY Change | -26.88% | 74.76% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.048B | $1.539B |
Total Long-Term Liabilities | $4.060B | $5.552B |
Total Liabilities | $6.919B | $8.259B |
YoY Change | -16.23% | 72.67% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $5.479B | |
YoY Change | ||
Common Stock | $1.000M | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | $18.60M | |
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $7.156B | $5.971B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $14.07B | $14.23B |
YoY Change | -1.1% | 39.18% |
Cashflow Statement
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $211.3M | $158.1M |
YoY Change | 33.65% | 4.41% |
Depreciation, Depletion And Amortization | $12.60M | $12.40M |
YoY Change | 1.61% | -79.05% |
Cash From Operating Activities | $281.7M | $378.2M |
YoY Change | -25.52% | 82.62% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$11.60M | -$18.10M |
YoY Change | -35.91% | 90.53% |
Acquisitions | $38.90M | $2.800M |
YoY Change | 1289.29% | |
Other Investing Activities | $1.000M | $400.0K |
YoY Change | 150.0% | -100.15% |
Cash From Investing Activities | -$51.50M | -$21.30M |
YoY Change | 141.78% | -92.23% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | $42.10M | $35.40M |
YoY Change | 18.93% | |
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -$551.6M | -$397.1M |
YoY Change | 38.91% | 108.78% |
NET CHANGE | ||
Cash From Operating Activities | $281.7M | $378.2M |
Cash From Investing Activities | -$51.50M | -$21.30M |
Cash From Financing Activities | -$551.6M | -$397.1M |
Net Change In Cash | -$305.1M | -$40.20M |
YoY Change | 658.96% | -84.36% |
FREE CASH FLOW | ||
Cash From Operating Activities | $281.7M | $378.2M |
Capital Expenditures | -$11.60M | -$18.10M |
Free Cash Flow | $293.3M | $396.3M |
YoY Change | -25.99% | 82.96% |
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38100000 | USD |
CY2018Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
39600000 | USD |
CY2018Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
3820700000 | USD |
CY2017Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
27700000 | USD |
CY2018Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
31200000 | USD |
CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
7452800000 | USD |
CY2018Q1 | us-gaap |
Liabilities
Liabilities
|
6918600000 | USD |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
14316400000 | USD |
CY2018Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
14074100000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
2029400000 | USD |
CY2018Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
2047500000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
800900000 | USD |
CY2018Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
801300000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
4354600000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-397100000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
378200000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
281700000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-551600000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-21300000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-51500000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
158100000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
211300000 | USD |
CY2018Q1 | us-gaap |
New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
|
14300000 | USD |
CY2017Q1 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
165000000 | USD |
CY2018Q1 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
176100000 | USD |
CY2017Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1100000 | USD |
CY2018Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1700000 | USD |
CY2018Q1 | us-gaap |
Number Of Businesses Acquired
NumberOfBusinessesAcquired
|
2 | acquisition |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
258300000 | USD |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
300200000 | USD |
CY2017Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
73500000 | USD |
CY2018Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
84100000 | USD |
CY2018Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
72500000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
88300000 | USD |
CY2018Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
92200000 | USD |
CY2018Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
91500000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
30400000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
57800000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
30400000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
57800000 | USD |
CY2017Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
239200000 | USD |
CY2018Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
220600000 | USD |
CY2018Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
238800000 | USD |
CY2017Q1 | us-gaap |
Payments For Other Operating Activities
PaymentsForOtherOperatingActivities
|
10900000 | USD |
CY2018Q1 | us-gaap |
Payments For Other Operating Activities
PaymentsForOtherOperatingActivities
|
9500000 | USD |
CY2017Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
400000 | USD |
CY2018Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
1000000 | USD |
CY2017Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
35400000 | USD |
CY2018Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
42100000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
2800000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
38900000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
14900000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
9700000 | USD |
CY2017Q1 | us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
3200000 | USD |
CY2018Q1 | us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
1900000 | USD |
CY2017Q4 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
24400000 | USD |
CY2018Q1 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
46200000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-300000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
100000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-370000000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-535000000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
|
1000000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
|
1600000 | USD |
CY2017Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
10600000 | USD |
CY2018Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
10200000 | USD |
CY2018Q1 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
2400000 | USD |
CY2018Q1 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
1900000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
142500000 | USD |
CY2018Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
140900000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
5464600000 | USD |
CY2018Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
5647600000 | USD |
CY2018Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
5478900000 | USD |
CY2018Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1202500000 | USD |
CY2018Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
2721700000 | USD |
CY2017Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1086300000 | USD |
CY2018Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1202500000 | USD |
CY2017Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
409300000 | USD |
CY2018Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
450300000 | USD |
CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
21000000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
26000000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-5300000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
25700000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
29100000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
|
1600000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6863600000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7155500000 | USD |
CY2017Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
18700000 | USD |
CY2018Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
18600000 | USD |
CY2018Q1 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
157600000 | USD |
CY2018Q1 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
149100000 | USD |
CY2017Q4 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
143600000 | USD |
CY2018Q1 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
157600000 | USD |
CY2018Q1 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
146400000 | USD |
CY2017Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
103100000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
104200000 | shares |
CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
101900000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
102900000 | shares |
CY2018Q1 | us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Roper, in the ordinary course of business, is the subject of, or a party to, various pending or threatened legal actions, including product liability and employment practices that, in general, are based upon claims of the kind that have been customary over the past several years and which the Company is vigorously defending. After analyzing the Company's contingent liabilities on a gross basis and, based upon past experience with resolution of its product liability and employment practices claims and the limits of the primary, excess, and umbrella liability insurance coverages that are available with respect to pending claims, management believes that adequate provision has been made to cover any potential liability not covered by insurance, and that the ultimate liability, if any, arising from these actions should not have a material adverse effect on Roper's consolidated financial position, results of operations or cash flows.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Roper or its subsidiaries have been named defendants along with numerous industrial companies in asbestos-related litigation claims in certain U.S. states. No significant resources have been required by Roper to respond to these cases and Roper believes it has valid defenses to such claims and, if required, intends to defend them vigorously. Given the state of these claims, it is not possible to determine the potential liability, if any.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Roper's consolidated financial statements include accruals for potential product liability and warranty claims based on its claims experience. Such costs are accrued at the time revenue is recognized. A summary of the warranty accrual activity for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> is presented below:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:89%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Balance at December 31, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additions charged to costs and expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deductions</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Balance at March 31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> | |
CY2018Q1 | us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Deferred revenues - </font><font style="font-family:inherit;font-size:10pt;">We record deferred revenues when cash payments are received or due in advance of our performance. Our deferred revenues relate primarily to software and related services. In most cases we recognize these deferred revenues ratably over time as the SaaS or PCS performance obligation is satisfied. The non-current portion of deferred revenue is included in "Other liabilities" in our condensed consolidated balance sheets. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our unbilled receivables and deferred revenues are reported in a net position on a contract-by-contract basis at the end of each reporting period. We classify these balances as current or non-current based on the timing of when we expect to recognize revenue.</font></div></div> |