$SSNC
SS&C Technologies Holdings Inc

2021 Q2 Form 10-Q Financial Statement

#000156459021040815 Filed on August 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $1.259B $1.138B $1.174B
YoY Change 10.62% -0.86% 3.2%
Cost Of Revenue $664.0M $626.8M $665.6M
YoY Change 5.93% -3.44% 0.56%
Gross Profit $595.0M $511.3M $508.0M
YoY Change 16.37% 2.49% 6.88%
Gross Profit Margin 47.26% 44.93% 43.29%
Selling, General & Admin $181.3M $173.2M $184.3M
YoY Change 4.68% -4.73% 3.25%
% of Gross Profit 30.47% 33.87% 36.28%
Research & Development $100.8M $96.80M $104.9M
YoY Change 4.13% 3.42% 10.65%
% of Gross Profit 16.94% 18.93% 20.65%
Depreciation & Amortization $19.50M $27.10M $184.7M
YoY Change -28.04% -12.86% -8.93%
% of Gross Profit 3.28% 5.3% 36.36%
Operating Expenses $282.1M $270.0M $289.2M
YoY Change 4.48% -1.96% 5.82%
Operating Profit $312.9M $241.3M $218.8M
YoY Change 29.67% 7.96% 8.32%
Interest Expense -$51.00M -$61.50M -$77.40M
YoY Change -17.07% -41.04% -23.82%
% of Operating Profit -16.3% -25.49% -35.37%
Other Income/Expense, Net $6.500M $19.00M -$15.30M
YoY Change -65.79% -43.95% -537.14%
Pretax Income $266.5M $199.0M $124.0M
YoY Change 33.92% 28.14% 28.1%
Income Tax $76.70M $29.50M $24.80M
% Of Pretax Income 28.78% 14.82% 20.0%
Net Earnings $189.8M $169.5M $99.20M
YoY Change 11.98% 39.97% 22.77%
Net Earnings / Revenue 15.08% 14.89% 8.45%
Basic Earnings Per Share $0.74 $0.66 $0.39
Diluted Earnings Per Share $0.71 $0.64 $0.37
COMMON SHARES
Basic Shares Outstanding 255.7M 257.0M 255.3M
Diluted Shares Outstanding 267.6M 265.8M 265.6M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $247.1M $262.0M $374.0M
YoY Change -5.69% 100.0% 141.29%
Cash & Equivalents $247.1M $261.9M $373.7M
Short-Term Investments
Other Short-Term Assets $220.7M $195.0M $175.0M
YoY Change 13.18% 19.63% 3.55%
Inventory
Prepaid Expenses
Receivables $738.7M $700.0M $714.0M
Other Receivables $2.921B $787.0M $1.073B
Total Short-Term Assets $4.128B $1.944B $2.337B
YoY Change 112.34% -2.98% 18.21%
LONG-TERM ASSETS
Property, Plant & Equipment $394.2M $423.8M $436.4M
YoY Change -6.98% -14.21% -15.51%
Goodwill $8.081B $7.940B $7.860B
YoY Change 1.78% 0.68%
Intangibles
YoY Change
Long-Term Investments $219.8M $222.7M $228.2M
YoY Change -1.3% -5.76% -4.64%
Other Assets
YoY Change
Total Long-Term Assets $13.31B $13.63B $13.64B
YoY Change -2.36% -3.59% -4.45%
TOTAL ASSETS
Total Short-Term Assets $4.128B $1.944B $2.337B
Total Long-Term Assets $13.31B $13.63B $13.64B
Total Assets $17.44B $15.57B $15.97B
YoY Change 11.96% -3.52% -1.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.80M $42.00M $43.00M
YoY Change -29.05% -18.92% 2.38%
Accrued Expenses $569.6M $503.0M $418.0M
YoY Change 13.24% 12.53% -0.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $55.20M $71.80M $320.0M
YoY Change -23.12% 13.61% 272.09%
Total Short-Term Liabilities $3.945B $1.800B $2.209B
YoY Change 119.16% -1.69% 25.39%
LONG-TERM LIABILITIES
Long-Term Debt $6.215B $6.831B $6.986B
YoY Change -9.02% -12.2% -13.0%
Other Long-Term Liabilities $574.5M $640.0M $317.9M
YoY Change -10.23% 202.74% -42.51%
Total Long-Term Liabilities $6.215B $6.831B $7.304B
YoY Change -9.02% -14.52% -14.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.945B $1.800B $2.209B
Total Long-Term Liabilities $6.215B $6.831B $7.304B
Total Liabilities $11.61B $10.26B $10.89B
YoY Change 13.18% -9.18% -5.47%
SHAREHOLDERS EQUITY
Retained Earnings $1.245B
YoY Change
Common Stock $4.327B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $78.30M
YoY Change
Treasury Stock Shares $2.900M
Shareholders Equity $5.824B $5.314B $5.088B
YoY Change
Total Liabilities & Shareholders Equity $17.44B $15.57B $15.97B
YoY Change 11.96% -3.52% -1.69%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $189.8M $169.5M $99.20M
YoY Change 11.98% 39.97% 22.77%
Depreciation, Depletion And Amortization $19.50M $27.10M $184.7M
YoY Change -28.04% -12.86% -8.93%
Cash From Operating Activities $376.6M $408.0M $147.7M
YoY Change -7.7% 46.13% 7.5%
INVESTING ACTIVITIES
Capital Expenditures -$28.30M -$25.40M $8.500M
YoY Change 11.42% -5.22% -47.85%
Acquisitions $16.30M
YoY Change -609.38%
Other Investing Activities $28.30M -$69.40M -$46.80M
YoY Change -140.78% -528.4% -381.93%
Cash From Investing Activities $0.00 -$94.80M -$73.30M
YoY Change -100.0% 794.34% 355.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $50.00M $95.90M
YoY Change -95.79%
Cash From Financing Activities 522.1M -703.4M -517.7M
YoY Change -174.23% 222.81% 144.31%
NET CHANGE
Cash From Operating Activities 376.6M 408.0M 147.7M
Cash From Investing Activities 0.000 -94.80M -73.30M
Cash From Financing Activities 522.1M -703.4M -517.7M
Net Change In Cash 898.7M -390.2M -450.4M
YoY Change -330.32% -869.63% 401.0%
FREE CASH FLOW
Cash From Operating Activities $376.6M $408.0M $147.7M
Capital Expenditures -$28.30M -$25.40M $8.500M
Free Cash Flow $404.9M $433.4M $139.2M
YoY Change -6.58% 41.63% 14.95%

Facts In Submission

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79900000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2311700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2492400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2311700000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
55500000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44600000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
64000000.0
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
824300000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
818500000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
430100000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
405700000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
394200000
CY2021Q2 us-gaap Depreciation
Depreciation
19500000
us-gaap Depreciation
Depreciation
44400000
CY2020Q2 us-gaap Depreciation
Depreciation
27100000
us-gaap Depreciation
Depreciation
54100000
CY2021Q2 us-gaap Long Term Investments
LongTermInvestments
172800000
CY2020Q4 us-gaap Long Term Investments
LongTermInvestments
183500000
CY2021Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
3100000
CY2020Q2 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
10400000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
8900000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-800000
CY2020Q2 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
6100000
us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
7700000
us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
7800000
CY2021Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
3700000
CY2020Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
16500000
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
16600000
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
7000000.0
CY2021Q2 us-gaap Equity Method Investments
EquityMethodInvestments
219800000
CY2021Q2 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
140900000
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
225600000
CY2020Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
143800000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-400000
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1000000.0
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-100000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-300000
CY2021Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1260900000
CY2020Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1154900000
CY2021Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
191000000.0
CY2020Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
172100000
CY2020Q4 us-gaap Goodwill
Goodwill
8078700000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-300000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
2400000
CY2021Q2 us-gaap Goodwill
Goodwill
8080800000
CY2021Q2 us-gaap Other Long Term Debt
OtherLongTermDebt
11400000
CY2020Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
10100000
CY2021Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
45800000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
53600000
CY2021Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
6270100000
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
6442400000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
55200000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
53900000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6214900000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6388500000
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.16
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.16
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
82100000
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.125
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.125
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
64000000.0
CY2021Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
3500000
CY2021Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1700000
CY2020Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-400000
ssnc Deferred Revenue Net Within Contract Assets From Contracts
DeferredRevenueNetWithinContractAssetsFromContracts
56700000
CY2020 ssnc Deferred Revenue Net Within Contract Assets From Contracts
DeferredRevenueNetWithinContractAssetsFromContracts
53900000
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
78700000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
181800000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
187900000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
558400000
CY2021Q2 ssnc Revenue Remaining Performance Obligation To Be Recognized In Next Twelve Months
RevenueRemainingPerformanceObligationToBeRecognizedInNextTwelveMonths
298000000.0
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1259000000.0
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1138100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2492400000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1138100000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27700000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22100000
CY2020Q4 ssnc Share Based Compensation Arrangement By Share Based Payment Award Options And Stock Appreciation Rights Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndStockAppreciationRightsOutstandingNumber
42700000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
700000
ssnc Share Based Compensation Arrangement By Share Based Payment Award Options And Stock Appreciation Rights Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndStockAppreciationRightsForfeituresInPeriod
800000
ssnc Stock Issued During Period Shares Stock Options And Stock Appreciation Rights Exercised
StockIssuedDuringPeriodSharesStockOptionsAndStockAppreciationRightsExercised
2200000
CY2021Q2 ssnc Share Based Compensation Arrangement By Share Based Payment Award Options And Stock Appreciation Rights Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndStockAppreciationRightsOutstandingNumber
40400000
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
265700000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.288
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.148
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.274
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.168
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
189800000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
169500000
us-gaap Net Income Loss
NetIncomeLoss
364700000
us-gaap Net Income Loss
NetIncomeLoss
268700000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
255700000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
257000000.0
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
256400000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
256100000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
11900000
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8800000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
11400000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9600000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
267600000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
265800000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
267800000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.74
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.05

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