CSG Systems International (CSGS) 10-Q 7 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 04, 2020
Cover [Abstract]
Entity Registrant Name	CSG SYSTEMS INTERNATIONAL, INC.
Entity Central Index Key	0001005757
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	CSGS
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		33,066,288
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	0-27512
Entity Tax Identification Number	47-0783182
Entity Address, Address Line One	6175 S. Willow Drive
Entity Address, Address Line Two	10th Floor
Entity Address, City or Town	Greenwood Village
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80111
City Area Code	(303)
Local Phone Number	200-2000
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, Par Value $0.01 Per Share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 107,744	$ 156,548
Short-term investments	23,529	26,109
Total cash, cash equivalents and short-term investments	131,273	182,657
Settlement assets	122,624	169,327
Trade accounts receivable:
Billed, net of allowance of $3,888 and $3,735	260,713	244,058
Unbilled	35,557	33,450
Income taxes receivable	5,435	4,297
Other current assets	42,702	35,293
Total current assets	598,304	669,082
Non-current assets:
Property and equipment, net of depreciation of $97,700 and $98,029	80,754	84,429
Operating lease right-of-use assets	107,009	94,847
Intangible assets	85,974	87,631
Goodwill	262,833	259,164
Client contract costs, net of amortization of $34,644 and $31,526	51,967	50,746
Deferred income taxes	8,653	9,392
Other assets	28,963	27,739
Total non-current assets	626,153	613,948
Total assets	1,224,457	1,283,030
Current liabilities:
Current portion of long-term debt	11,250	10,313
Operating lease liabilities	22,085	22,442
Client deposits	36,717	38,687
Trade accounts payable	37,960	32,704
Accrued employee compensation	46,448	77,527
Settlement liabilities	121,416	168,342
Deferred revenue	50,320	45,094
Income taxes payable	1,155	2,806
Other current liabilities	17,452	20,778
Total current liabilities	344,803	418,693
Non-current liabilities:
Long-term debt, net of unamortized discounts of $8,897 and $10,053	344,853	346,509
Operating lease liabilities	91,620	78,936
Deferred revenue	18,575	18,552
Income taxes payable	2,651	2,543
Deferred income taxes	15,786	6,376
Other non-current liabilities	19,338	14,759
Total non-current liabilities	492,823	467,675
Total liabilities	837,626	886,368
Stockholders' equity:
Preferred stock, par value $.01 per share; 10,000 shares authorized; zero shares issued and outstanding
Common stock, par value $.01 per share; 100,000 shares authorized; 33,075 and 32,891 shares outstanding	699	696
Additional paid-in capital	452,524	454,663
Treasury stock, at cost; 35,498 and 35,356 shares	(874,225)	(867,817)
Accumulated other comprehensive income (loss):
Unrealized gain (loss) on short-term investments, net of tax	(8)	16
Cumulative foreign currency translation adjustments	(54,603)	(39,519)
Accumulated earnings	862,444	848,623
Total stockholders' equity	386,831	396,662
Total liabilities and stockholders' equity	1,224,457	1,283,030
Software
Non-current assets:
Intangible assets	30,645	32,526
Acquired client contracts
Non-current assets:
Intangible assets	$ 55,329	$ 55,105

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Trade accounts receivable-billed, allowance	$ 3,888	$ 3,735
Property and equipment, accumulated depreciation	97,700	98,029
Intangibles, accumulated amortization	222,528	219,204
Client contract costs, accumulated amortization	34,644	31,526
Long-term debt, unamortized discounts	$ 8,897	$ 10,053
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	33,075,000	32,891,000
Treasury stock, shares	35,498,000	35,356,000
Software
Intangibles, accumulated amortization	$ 128,662	$ 125,437
Acquired client contracts
Intangibles, accumulated amortization	$ 93,866	$ 93,767

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 245,617	$ 244,793
Cost of revenue (exclusive of depreciation, shown separately below)	131,206	128,963
Other operating expenses:
Research and development	30,337	32,591
Selling, general and administrative	44,384	45,918
Depreciation	5,565	5,113
Restructuring and reorganization charges	966	115
Total operating expenses	212,458	212,700
Operating income	33,159	32,093
Other income (expense):
Interest expense	(4,213)	(4,560)
Amortization of original issue discount	(730)	(690)
Interest and investment income, net	529	519
Other, net	(69)	(1,511)
Total other	(4,483)	(6,242)
Income before income taxes	28,676	25,851
Income tax provision	(7,162)	(6,600)
Net income	$ 21,514	$ 19,251
Weighted-average shares outstanding:
Basic	31,994	32,128
Diluted	32,358	32,438
Earnings per common share:
Basic	$ 0.67	$ 0.60
Diluted	$ 0.66	$ 0.59

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 21,514	$ 19,251
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(15,084)	3,847
Unrealized holding gain (loss) on short-term investments arising during period	(24)	18
Other comprehensive income (loss), net of tax	(15,108)	3,865
Total comprehensive income, net of tax	$ 6,406	$ 23,116

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Warrants	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Earnings
Balance, beginning of period at Dec. 31, 2018	$ 361,024	$ 693	$ 9,082	$ 441,417	$ (842,360)	$ (42,935)	$ 795,127
Balance, beginning of period, shares at Dec. 31, 2018		33,158
Net income	19,251						19,251
Unrealized gain (loss) on short-term investments, net of tax	18					18
Foreign currency translation adjustments	3,847					3,847
Total comprehensive income, net of tax	23,116
Repurchase of common stock	(13,424)			(4,134)	(9,290)
Repurchase of common stock, shares		(352)
Issuance of common stock pursuant to employee stock purchase plan	512			512
Issuance of common stock pursuant to employee stock purchase plan, shares		15
Issuance of restricted common stock pursuant to stock-based compensation plans		$ 4		(4)
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		462
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(3)
Stock-based compensation expense	3,693			3,693
Dividends	(7,411)						(7,411)
Balance, ending of period at Mar. 31, 2019	367,510	$ 697	$ 9,082	441,484	(851,650)	(39,070)	806,967
Balance, ending of period, shares at Mar. 31, 2019		33,280
Balance, beginning of period at Dec. 31, 2019	$ 396,662	$ 696		454,663	(867,817)	(39,503)	848,623
Balance, beginning of period, shares at Dec. 31, 2019	32,891	32,891
Net income	$ 21,514						21,514
Unrealized gain (loss) on short-term investments, net of tax	(24)					(24)
Foreign currency translation adjustments	(15,084)					(15,084)
Total comprehensive income, net of tax	6,406
Repurchase of common stock	(13,965)	$ (2)		(7,555)	(6,408)
Repurchase of common stock, shares		(299)
Issuance of common stock pursuant to employee stock purchase plan	564			564
Issuance of common stock pursuant to employee stock purchase plan, shares		14
Issuance of restricted common stock pursuant to stock-based compensation plans		$ 5		(5)
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		476
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(7)
Stock-based compensation expense	4,857			4,857
Dividends	(7,693)						(7,693)
Balance, ending of period at Mar. 31, 2020	$ 386,831	$ 699		$ 452,524	$ (874,225)	$ (54,611)	$ 862,444
Balance, ending of period, shares at Mar. 31, 2020	33,075	33,075

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 21,514	$ 19,251
Adjustments to reconcile net income to net cash provided by (used in) operating activities –
Depreciation	5,565	5,113
Amortization	10,788	11,949
Amortization of original issue discount	730	690
Asset impairment	259	69
Gain on short-term investments and other	(85)	(157)
Deferred income taxes	9,310	1,395
Stock-based compensation	4,857	3,693
Changes in operating assets and liabilities, net of acquired amounts:
Trade accounts receivable, net	(23,304)	(12,018)
Other current and non-current assets and liabilities	(8,452)	(1,575)
Income taxes payable/receivable	(3,092)	3,886
Trade accounts payable and accrued liabilities	(32,455)	(25,594)
Deferred revenue	7,152	6,124
Net cash provided by (used in) operating activities	(7,213)	12,826
Cash flows from investing activities:
Purchases of software, property and equipment	(4,822)	(8,286)
Purchases of short-term investments	(16,037)	(14,168)
Proceeds from sale/maturity of short-term investments	18,670	19,619
Acquisition of and investments in business, net of cash acquired	(9,991)	(4,000)
Net cash used in investing activities	(12,180)	(6,835)
Cash flows from financing activities:
Proceeds from issuance of common stock	564	512
Payment of cash dividends	(8,277)	(7,641)
Repurchase of common stock	(13,876)	(13,568)
Payments on long-term debt	(1,875)	(1,875)
Net cash used in financing activities	(23,464)	(22,572)
Effect of exchange rate fluctuations on cash	(5,947)	876
Net decrease in cash and cash equivalents	(48,804)	(15,705)
Cash and cash equivalents, beginning of period	156,548	139,277
Cash and cash equivalents, end of period	107,744	123,572
Cash paid during the period for –
Interest	6,194	6,506
Income taxes	$ 857	$ 1,374

General

General	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
General	1. GENERAL We have prepared the accompanying unaudited condensed consolidated financial statements as of March 31, 2020 and December 31, 2019, and for the quarters ended March 31, 2020 and 2019, in accordance with accounting principles generally accepted in the United States of America (“U.S.”) (“GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of our management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our financial position and operating results have been included. The unaudited Condensed Consolidated Financial Statements (the “Financial Statements”) should be read in conjunction with the Consolidated Financial Statements and notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”), contained in our Annual Report on Form 10-K for the year ended December 31, 2019 (our “2019 10-K”), filed with the SEC. The results of operations for the quarter ended March 31, 2020 are not necessarily indicative of the expected results for the entire year ending December 31, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates in Preparation of Financial Statements. The preparation of the accompanying Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our Financial Statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Revenue. The majority of our future revenue is related to our revenue management solution client contracts that include variable consideration dependent upon a series of monthly volumes and/or daily usage of services and have contractual terms ending from 2020 through 2028. Our client contracts may also include guaranteed minimums and fixed monthly or annual fees. As of March 31, 2020, our aggregate amount of the transaction price allocated to the remaining performance obligations is approximately $1 billion, which is made up of fixed fee consideration and guaranteed minimums expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied). We expect to recognize approximately 75% of this amount by the end of 2022, with the remaining amount recognized by the end of 2028. We have excluded from this amount variable consideration expected to be recognized in the future related to performance obligations that are unsatisfied. The nature, amount, timing and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by geographic region (using the location of the client as the basis of attributing revenue to the individual regions) as follows (in thousands): Quarter Ended March 31, 2020 2019 Americas (principally the U.S.) $ 216,997 $ 210,729 Europe, Middle East, and Africa 21,032 24,626 Asia Pacific 7,588 9,438 Total revenue $ 245,617 $ 244,793 Deferred revenue recognized in the first quarter of 2020 was $17.7 million. Cash and Cash Equivalents. We consider all highly liquid investments with original maturities of three months or less at the date of the purchase to be cash equivalents. As of March 31, 2020 and December 31, 2019, our cash equivalents consist primarily of institutional money market funds, commercial paper, and time deposits held at major banks. As of March 31, 2020 and December 31, 2019, we had $2.6 million and $2.7 million, respectively, of restricted cash that serves to collateralize outstanding letters of credit. This restricted cash is included in cash and cash equivalents in our Condensed Consolidated Balance Sheets (“Balance Sheets” or “Balance Sheet”). Short-term Investments and Other Financial Instruments . Our financial instruments as of March 31, 2020 and December 31, 2019 include cash and cash equivalents, short-term investments, accounts receivable, accounts payable, and debt. Because of their short maturities, the carrying amounts of cash equivalents, accounts receivable, and accounts payable approximate their fair value. Our short-term investments and certain of our cash equivalents are considered “available-for-sale” and are reported at fair value in our Balance Sheets, with unrealized gains and losses, net of the related income tax effect, excluded from earnings and reported in a separate component of stockholders’ equity. Realized and unrealized gains and losses were not material in any period presented. Primarily all short-term investments held by us as of March 31, 2020 and December 31, 2019 have contractual maturities of less than two years from the time of acquisition. Our short-term investments as of March 31, 2020 and December 31, 2019 consisted almost entirely of fixed income securities. Proceeds from the sale/maturity of short-term investments for the three months ended March 31, 2020 and 2019 were $18.7 million and $19.6 million, respectively. Our short-term investments as of March 31, 2020 and December 31, 2019 were $23.5 million and $26.1 million, respectively. The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets measured at fair value (in thousands): March 31, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 4,150 $ — $ 4,150 $ 4,847 $ — $ 4,847 Commercial paper — 9,393 9,393 — 26,964 26,964 Short-term investments: Corporate debt securities — 19,595 19,595 — 22,159 22,159 Asset-backed securities — 3,934 3,934 — 3,950 3,950 Total $ 4,150 $ 32,922 $ 37,072 $ 4,847 $ 53,073 $ 57,920 Valuation inputs used to measure the fair values of our money market funds and corporate equity securities were derived from quoted market prices. The fair values of all other financial instruments are based upon pricing provided by third-party pricing services. These prices were derived from observable market inputs. We have chosen not to measure our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible debt) and estimated fair value of our debt as of the indicated periods (in thousands): March 31, 2020 December 31, 2019 Carrying Fair Carrying Fair Value Value Value Value 2018 Credit Agreement (carrying value including current maturities) $ 135,000 $ 135,000 $ 136,875 $ 136,875 2016 Convertible Debt (par value) 230,000 236,325 230,000 262,775 The fair value for our credit agreement was estimated using a discounted cash flow methodology, while the fair value for our convertible debt was estimated based upon quoted market prices or recent sales activity, both of which are considered Level 2 inputs. Equity Method Investment. As of March 31, 2020, we held an 8% noncontrolling interest in a payment technology and services company with a carrying value of $6.6 million.

Long-Lived Assets

Long-Lived Assets	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Long-Lived Assets	3. LONG-LIVED ASSETS Goodwill. The changes in the carrying amount of goodwill for the first quarter of 2020 were as follows (in thousands): January 1, 2020 balance $ 259,164 Tekzenit, Inc. acquisition 9,154 Effects of changes in foreign currency exchange rates (5,485 ) March 31, 2020 balance $ 262,833 See Note 5 for discussion regarding the Tekzenit, Inc. acquisition. Other Intangible Assets. Our other intangible assets subject to ongoing amortization consist primarily of acquired client contracts and software. As of March 31, 2020 and December 31, 2019, the carrying values of these assets were as follows (in thousands): March 31, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Acquired client contracts $ 149,195 $ (93,866 ) $ 55,329 $ 148,872 $ (93,767 ) $ 55,105 Software 159,307 (128,662 ) 30,645 157,963 (125,437 ) 32,526 Total other intangible assets $ 308,502 $ (222,528 ) $ 85,974 $ 306,835 $ (219,204 ) $ 87,631 The total amortization expense related to other intangible assets for the first quarters of 2020 and 2019 were $6.3 million and $5.6 million, respectively. Based on the March 31, 2020 net carrying value of our other intangible assets, the estimated total amortization expense for each of the five succeeding fiscal years ending December 31 are: 2020 – $23.2 million; 2021 – $16.0 million; 2022 – $13.2 million; 2023 – $9.6 million; and 2024 – $6.7 million. Client Contract Costs . As of March 31, 2020 and December 31, 2019, the carrying values of our client contract cost assets, related to those contracts with a contractual term greater than one year, were as follows (in thousands): March 31, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Client contract costs $ 86,611 $ (34,644 ) $ 51,967 $ 82,272 $ (31,526 ) $ 50,746 The total amortization expense related to client contract costs for the first quarters of 2020 and 2019 were $4.0 million and $6.0 million, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	4. DEBT Our long-term debt, as of March 31, 2020 and December 31, 2019, was as follows (in thousands): March 31, December 31, 2020 2019 2018 Credit Agreement: Term loan, due March 2023 $ 135,000 $ 136,875 Less – deferred financing costs (1,574 ) (1,715 ) 2018 term loan, net of unamortized discounts 133,426 135,160 $200 million revolving loan facility, due March 2023 — — Convertible Notes: 2016 Convertible Notes – Senior convertible notes; due March 15, 2036; cash interest at 4.25% 230,000 230,000 Less – unamortized original issue discount (5,274 ) (6,004 ) Less – deferred financing costs (2,049 ) (2,334 ) 2016 Convertible Notes, net of unamortized discounts 222,677 221,662 Total debt, net of unamortized discounts 356,103 356,822 Current portion of long-term debt, net of unamortized discounts (11,250 ) (10,313 ) Long-term debt, net of unamortized discounts $ 344,853 $ 346,509 2018 Credit Agreement During the quarter ended March 31, 2020, we made $1.9 million of principal repayments on our $150 million aggregate principal five-year five-year The interest rates under the 2018 Credit Agreement are based upon our choice of an adjusted LIBOR rate plus an applicable margin of 1.50% – 2.50%, or an alternate base rate plus an applicable margin of 0.50% – 1.50%, with the applicable margin, depending on our then-net secured total leverage ratio. We will pay a commitment fee of 0.200% – 0.375% of the average daily unused amount of the 2018 Revolver, with the commitment fee rate also dependent upon our then-net secured total leverage ratio. If the LIBOR rate is no longer available, then our interest rate under the Credit Agreement will be determined by the alternate base rate plus an applicable margin as discussed above. 2016 Convertible Notes Upon conversion of the 2016 Convertible Notes, we will settle our conversion obligation by paying or delivering, as the case may be, cash, shares of our common stock, or a combination thereof, at our election. It is our current intent and policy to settle our conversion obligations as follows: (i) pay cash for 100% of the par value of the 2016 Convertible Notes that are converted; and (ii) to the extent the value of our conversion obligation exceeds the par value, we can satisfy the remaining conversion obligation in cash, shares of our common stock, or a combination thereof, at our election. The 2016 Convertible Notes will be convertible at the option of the note holders upon the satisfaction of specified conditions and during certain periods. During the period from, and including, December 15, 2021 to the close of business on the business day immediately preceding March 15, 2022 and on or after December 15, 2035, holders may convert all or any portion of their 2016 Convertible Notes at the conversion rate then in effect at any time regardless of these conditions. As a result of our quarterly dividend in March 2020 (see Note 8), the previous conversion rate for the 2016 Convertible Notes of 17.5843 shares of our common stock per $1,000 principal amount of the 2016 Convertible Notes, which is equivalent to an initial conversion price of $56.87 per share of our common stock, has been adjusted to 17.6036 shares of our common stock per $1,000 principal amount of the 2016 Convertible Notes, which is equivalent to an initial conversion price of $56.81 per share of our common stock. Holders may require us to repurchase the 2016 Convertibl e Notes for cash on each of March 15, 2022, March 15, 2026, and March 15, 2031, or upon the occurrence of a fundamental change (as defined in the 2016 Convertible Notes Indenture) in each case at a purchase price equal to the principal amount thereof plus accrued and unpaid interest. We may redeem for cash all or part of the 2016 Convertible Notes if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption. On or after March 15, 2022, we may redeem for cash all or part of the 2016 Convertible Notes regardless of the sales price condition described in the preceding sentence. In each case, the redemption price will equal the principal amount of the 2016 Convertible Notes to be redeemed, plus accrued and unpaid interest. As of March 31, 2020, none of the conversion features have been achieved, and thus, the 2016 Convertible Notes are not convertible by the holders.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisitions	5. ACQUISITIONS Tekzenit, Inc. On January 2, 2020, we acquired Tekzenit Inc. (“Tekzenit”) for a purchase price of approximately $10 million. This acquisition will allow us to accelerate our go-to-market approach serving clients who are focused on improving their customers’ experience while transforming their business. The purchase agreement includes provisions for additional purchase price (“Provisional Purchase Price”) payments in the form of earn-out and qualified sales payments for up to $10 million over a three-year The preliminary estimated fair values of assets acquired primarily include goodwill of $9.2 million and acquired client contracts of $2.9 million and liabilities assumed primarily include the contingent purchase price liabilities of $1.5 million. The estimated fair values are considered provisional and are based on the information that was available as of the date of the Tekzenit acquisition. Thus, the provisional measurements of fair value set forth above are subject to change. Such changes are not expected to be significant. We expect to finalize the valuation and complete the purchase price allocation as soon as practicable but not later than one year from the acquisition date. Forte Payment Systems, Inc. In 2018, we acquired Forte Payment Systems, Inc. (“Forte”), a leading provider of advanced payment solutions headquartered in Allen, Texas. We acquired 100% of the equity of Forte for a purchase price of approximately $93 million, (approximately $85 million, excluding cash acquired). The purchase agreement also includes provisions for $18.8 million of potential future earn-out payments over a four-year

Commitments, Guarantees and Con

Commitments, Guarantees and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments, Guarantees and Contingencies	6. COMMITMENTS, GUARANTEES AND CONTINGENCIES Warranties. We generally warrant that our solutions and related offerings will conform to published specifications, or to specifications provided in an individual client arrangement, as applicable. The typical warranty period is 90 days from the date of acceptance of the solution or offering. For certain service offerings we provide a warranty for the duration of the services provided. We generally warrant that services will be performed in a professional and workmanlike manner. The typical remedy for breach of warranty is to correct or replace any defective deliverable, and if not possible or practical, we will accept the return of the defective deliverable and refund the amount paid under the client arrangement that is allocable to the defective deliverable. Our contracts also generally contain limitation of damages provisions in an effort to reduce our exposure to monetary damages arising from breach of warranty claims. Historically, we have incurred minimal warranty costs, and as a result, do not maintain a warranty reserve. Solution and Services Indemnifications. Our arrangements with our clients generally include an indemnification provision that will indemnify and defend a client in actions brought against the client that claim our products and/or services infringe upon a copyright, trade secret, or valid patent. Historically, we have not incurred any significant costs related to such indemnification claims, and as a result, do not maintain a reserve for such exposure. Claims for Company Non-performance. Our arrangements with our clients typically cap our liability for breach to a specified amount of the direct damages incurred by the client resulting from the breach. From time-to-time, these arrangements may also include provisions for possible liquidated damages or other financial remedies for our non-performance, or in the case of certain of our outsourced customer care and billing solutions, provisions for damages related to service level performance requirements. The service level performance requirements typically relate to system availability and timeliness of service delivery. As of March 31, 2020, we believe we have adequate reserves, based on our historical experience, to cover any reasonably anticipated exposure as a result of our nonperformance for any past or current arrangements with our clients . Indemnifications Related to Officers and the Board of Directors. We have agreed to indemnify members of our Board of Directors (the “Board”) and certain of our officers if they are named or threatened to be named as a party to any proceeding by reason of the fact that they acted in such capacity. We maintain directors’ and officers’ (D&O) insurance coverage to protect against such losses. We have not historically incurred any losses related to these types of indemnifications, and are not aware of any pending or threatened actions or claims against any officer or member of our Board. As a result, we have not recorded any liabilities related to such indemnifications as of March 31, 2020. In addition, as a result of the insurance policy coverage, we believe these indemnification agreements are not significant to our results of operations. Legal Proceedings. From time-to-time, we are involved in litigation relating to claims arising out of our operations in the normal course of business.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	7. EARNINGS PER COMMON SHARE Basic and diluted earnings per common share (“EPS”) amounts are presented on the face of the accompanying Income Statements. No reconciliation of the basic and diluted EPS numerators is necessary as net income is used as the numerators for all periods presented. The reconciliation of the basic and diluted EPS denominators related to the common shares is included in the following table (in thousands): Quarter Ended March 31, 2020 2019 Basic weighted-average common shares 31,994 32,128 Dilutive effect of restricted common stock 364 174 Dilutive effect of Stock Warrants - 136 Diluted weighted-average common shares 32,358 32,438 The Convertible Notes have a dilutive effect only in those quarterly periods in which our average stock price exceeds the current effective conversion price (see Note 4). The stock warrants have a dilutive effect only in those quarterly periods in which our average stock price exceeds the exercise price of $26.68 per warrant (under the treasury stock method), and are not subject to performance vesting conditions (see Note 8). Potentially dilutive common shares related to non-participating unvested restricted stock excluded from the computation of diluted EPS, as the effect was antidilutive, were not material in any period presented.

Stockholders' Equity and Equity

Stockholders' Equity and Equity Compensation Plans	3 Months Ended
	Mar. 31, 2020
Stockholders Equity Note [Abstract]
Stockholders' Equity and Equity Compensation Plans	8. STOCKHOLDERS’ EQUITY AND EQUITY COMPENSATION PLANS Stock Repurchase Program. We currently have a stock repurchase program, approved by our Board, authorizing us to repurchase our common stock from time-to-time as market and business conditions warrant (the “Stock Repurchase Program”). During the first quarters of 2020 and 2019 we repurchased approximately 142,000 shares of our common stock for $6.4 million (weighted-average price of $45.26 per share) and approximately 249,000 shares of our common stock for $9.3 million (weighted-average price of $37.37 per share), respectively, under a SEC Rule 10b5-1 Plan. In early April 2020, we suspended stock repurchases under the Stock Repurchase Program and terminated our existing SEC Rule 10b5-1 Plan. As of March 31, 2020, the total remaining number of shares available for repurchase under the Stock Repurchase Program totaled 4.8 million shares. Stock Repurchases for Tax Withholdings. In addition to the above-mentioned stock repurchases, during the first quarters of 2020 and 2019 we repurchased and then cancelled approximately 157,000 shares of common stock for $7.6 million and approximately 103,000 shares of common stock for $4.1 million, respectively, in connection with minimum tax withholding requirements resulting from the vesting of restricted common stock under our stock incentive plans. Cash During the first quarter of 2020, the Board approved a quarterly cash dividend of $0.235 per share of common stock, totaling $7.7 million. During the first quarter of 2019, the Board approved a quarterly cash dividend of $0.2225 per share of common stock, totaling $7.4 million. Warrants . In 2014, in conjunction with the execution of an amendment to our current agreement with Comcast Corporation (“Comcast”), we issued stock warrants (the “Warrant Agreement”) for the right to purchase up to 2.9 million shares of our common stock (the “Stock Warrants”) as an additional incentive for Comcast to convert customer accounts onto our Advanced Convergent Platform (“ACP”) based on various milestones. The Stock Warrants have a ten-year As of March 31, 2020, 1.0 million Stock Warrants remain issued, none of which were vested. The remaining unvested Stock Warrants will be accounted for as a client contract cost asset once the performance conditions necessary for vesting are considered probable. Stock-Based Awards. A summary of our unvested restricted common stock activity during the first quarter of 2020 is as follows (shares in thousands): Quarter Ended March 31, 2020 Shares Weighted- Average Grant Date Fair Value Unvested awards, beginning 1,117 $ 42.60 Awards granted 498 47.56 Awards forfeited/cancelled (14 ) 43.00 Awards vested (448 ) 43.23 Unvested awards, ending 1,153 $ 44.55 Included in the awards granted during the first quarter of 2020 are performance-based awards for 0.1 million restricted common stock shares issued to members of executive management and certain key employees, which vest in the first quarter of 2022 upon meeting certain pre-established financial performance objectives over a two-year The other restricted common stock shares granted during the first quarter of 2020 We recorded stock-based compensation expense for the first quarters of 2020 and 2019 of $4.9 million and $3.7 million, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements. The preparation of the accompanying Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our Financial Statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
Revenue	Revenue. The majority of our future revenue is related to our revenue management solution client contracts that include variable consideration dependent upon a series of monthly volumes and/or daily usage of services and have contractual terms ending from 2020 through 2028. Our client contracts may also include guaranteed minimums and fixed monthly or annual fees. As of March 31, 2020, our aggregate amount of the transaction price allocated to the remaining performance obligations is approximately $1 billion, which is made up of fixed fee consideration and guaranteed minimums expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied). We expect to recognize approximately 75% of this amount by the end of 2022, with the remaining amount recognized by the end of 2028. We have excluded from this amount variable consideration expected to be recognized in the future related to performance obligations that are unsatisfied. The nature, amount, timing and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by geographic region (using the location of the client as the basis of attributing revenue to the individual regions) as follows (in thousands): Quarter Ended March 31, 2020 2019 Americas (principally the U.S.) $ 216,997 $ 210,729 Europe, Middle East, and Africa 21,032 24,626 Asia Pacific 7,588 9,438 Total revenue $ 245,617 $ 244,793 Deferred revenue recognized in the first quarter of 2020 was $17.7 million.
Cash and Cash Equivalents	Cash and Cash Equivalents. We consider all highly liquid investments with original maturities of three months or less at the date of the purchase to be cash equivalents. As of March 31, 2020 and December 31, 2019, our cash equivalents consist primarily of institutional money market funds, commercial paper, and time deposits held at major banks. As of March 31, 2020 and December 31, 2019, we had $2.6 million and $2.7 million, respectively, of restricted cash that serves to collateralize outstanding letters of credit. This restricted cash is included in cash and cash equivalents in our Condensed Consolidated Balance Sheets (“Balance Sheets” or “Balance Sheet”).
Short-term Investments and Other Financial Instruments	Short-term Investments and Other Financial Instruments . Our financial instruments as of March 31, 2020 and December 31, 2019 include cash and cash equivalents, short-term investments, accounts receivable, accounts payable, and debt. Because of their short maturities, the carrying amounts of cash equivalents, accounts receivable, and accounts payable approximate their fair value. Our short-term investments and certain of our cash equivalents are considered “available-for-sale” and are reported at fair value in our Balance Sheets, with unrealized gains and losses, net of the related income tax effect, excluded from earnings and reported in a separate component of stockholders’ equity. Realized and unrealized gains and losses were not material in any period presented. Primarily all short-term investments held by us as of March 31, 2020 and December 31, 2019 have contractual maturities of less than two years from the time of acquisition. Our short-term investments as of March 31, 2020 and December 31, 2019 consisted almost entirely of fixed income securities. Proceeds from the sale/maturity of short-term investments for the three months ended March 31, 2020 and 2019 were $18.7 million and $19.6 million, respectively. Our short-term investments as of March 31, 2020 and December 31, 2019 were $23.5 million and $26.1 million, respectively. The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets measured at fair value (in thousands): March 31, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 4,150 $ — $ 4,150 $ 4,847 $ — $ 4,847 Commercial paper — 9,393 9,393 — 26,964 26,964 Short-term investments: Corporate debt securities — 19,595 19,595 — 22,159 22,159 Asset-backed securities — 3,934 3,934 — 3,950 3,950 Total $ 4,150 $ 32,922 $ 37,072 $ 4,847 $ 53,073 $ 57,920 Valuation inputs used to measure the fair values of our money market funds and corporate equity securities were derived from quoted market prices. The fair values of all other financial instruments are based upon pricing provided by third-party pricing services. These prices were derived from observable market inputs. We have chosen not to measure our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible debt) and estimated fair value of our debt as of the indicated periods (in thousands): March 31, 2020 December 31, 2019 Carrying Fair Carrying Fair Value Value Value Value 2018 Credit Agreement (carrying value including current maturities) $ 135,000 $ 135,000 $ 136,875 $ 136,875 2016 Convertible Debt (par value) 230,000 236,325 230,000 262,775 The fair value for our credit agreement was estimated using a discounted cash flow methodology, while the fair value for our convertible debt was estimated based upon quoted market prices or recent sales activity, both of which are considered Level 2 inputs.
Equity Method Investment	Equity Method Investment. As of March 31, 2020, we held an 8% noncontrolling interest in a payment technology and services company with a carrying value of $6.6 million.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule of Revenue Disaggregated by Geographic Region	The nature, amount, timing and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by geographic region (using the location of the client as the basis of attributing revenue to the individual regions) as follows (in thousands): Quarter Ended March 31, 2020 2019 Americas (principally the U.S.) $ 216,997 $ 210,729 Europe, Middle East, and Africa 21,032 24,626 Asia Pacific 7,588 9,438 Total revenue $ 245,617 $ 244,793
Fair Value Measurements	The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets measured at fair value (in thousands): March 31, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 4,150 $ — $ 4,150 $ 4,847 $ — $ 4,847 Commercial paper — 9,393 9,393 — 26,964 26,964 Short-term investments: Corporate debt securities — 19,595 19,595 — 22,159 22,159 Asset-backed securities — 3,934 3,934 — 3,950 3,950 Total $ 4,150 $ 32,922 $ 37,072 $ 4,847 $ 53,073 $ 57,920
Carrying Value (Par Value for Convertible Debt) and Estimated Fair Value of Debt	We have chosen not to measure our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible debt) and estimated fair value of our debt as of the indicated periods (in thousands): March 31, 2020 December 31, 2019 Carrying Fair Carrying Fair Value Value Value Value 2018 Credit Agreement (carrying value including current maturities) $ 135,000 $ 135,000 $ 136,875 $ 136,875 2016 Convertible Debt (par value) 230,000 236,325 230,000 262,775

Long-Lived Assets (Tables)

Long-Lived Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the first quarter of 2020 were January 1, 2020 balance $ 259,164 Tekzenit, Inc. acquisition 9,154 Effects of changes in foreign currency exchange rates (5,485 ) March 31, 2020 balance $ 262,833
Summary of Carrying Value of Assets	As of March 31, 2020 and December 31, 2019, the carrying values of these assets were as follows (in thousands): March 31, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Acquired client contracts $ 149,195 $ (93,866 ) $ 55,329 $ 148,872 $ (93,767 ) $ 55,105 Software 159,307 (128,662 ) 30,645 157,963 (125,437 ) 32,526 Total other intangible assets $ 308,502 $ (222,528 ) $ 85,974 $ 306,835 $ (219,204 ) $ 87,631
Summary of Carrying Values of Client Contract Cost Assets	As of March 31, 2020 and December 31, 2019, the carrying values of our client contract cost assets, related to those contracts with a contractual term greater than one year, were as follows (in thousands): March 31, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Client contract costs $ 86,611 $ (34,644 ) $ 51,967 $ 82,272 $ (31,526 ) $ 50,746

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt, as of March 31, 2020 and December 31, 2019, was as follows (in thousands): March 31, December 31, 2020 2019 2018 Credit Agreement: Term loan, due March 2023 $ 135,000 $ 136,875 Less – deferred financing costs (1,574 ) (1,715 ) 2018 term loan, net of unamortized discounts 133,426 135,160 $200 million revolving loan facility, due March 2023 — — Convertible Notes: 2016 Convertible Notes – Senior convertible notes; due March 15, 2036; cash interest at 4.25% 230,000 230,000 Less – unamortized original issue discount (5,274 ) (6,004 ) Less – deferred financing costs (2,049 ) (2,334 ) 2016 Convertible Notes, net of unamortized discounts 222,677 221,662 Total debt, net of unamortized discounts 356,103 356,822 Current portion of long-term debt, net of unamortized discounts (11,250 ) (10,313 ) Long-term debt, net of unamortized discounts $ 344,853 $ 346,509

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of the Basic and Diluted EPS Denominators	The reconciliation of the basic and diluted EPS denominators related to the common shares is included in the following table (in thousands): Quarter Ended March 31, 2020 2019 Basic weighted-average common shares 31,994 32,128 Dilutive effect of restricted common stock 364 174 Dilutive effect of Stock Warrants - 136 Diluted weighted-average common shares 32,358 32,438

Stockholders' Equity and Equi_2

Stockholders' Equity and Equity Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Stockholders Equity Note [Abstract]
Summary of Unvested Restricted Common Stock Activity	A summary of our unvested restricted common stock activity during the first quarter of 2020 is as follows (shares in thousands): Quarter Ended March 31, 2020 Shares Weighted- Average Grant Date Fair Value Unvested awards, beginning 1,117 $ 42.60 Awards granted 498 47.56 Awards forfeited/cancelled (14 ) 43.00 Awards vested (448 ) 43.23 Unvested awards, ending 1,153 $ 44.55

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Aggregate amount of transaction price allocated to remaining performance obligations	$ 1,000,000
Remaining performance obligations expected to be recognized, year	2028
Deferred revenue recognized	$ 17,700
Restricted cash	2,600		$ 2,700
Proceeds from sale/maturity of short-term investments	18,670	$ 19,619
Short-term investments	23,529		$ 26,109
Equity method investment, carrying value	$ 6,600
Payment Technology and Services Company
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, noncontrolling interest	8.00%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Future revenue including variable consideration, contractual terms ending, year	2020
Maximum
Summary Of Significant Accounting Policies [Line Items]
Future revenue including variable consideration, contractual terms ending, year	2028
Short-term investment contractual maturities	2 years		2 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Textual 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-04-01	Mar. 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Remaining performance obligations expected to be recognized, percentage	75.00%
Remaining performance obligations expected to be recognized, period	2 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Revenue Disaggregated by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 245,617	$ 244,793
Americas (principally the U.S.)
Disaggregation Of Revenue [Line Items]
Total revenue	216,997	210,729
Europe, Middle East, and Africa
Disaggregation Of Revenue [Line Items]
Total revenue	21,032	24,626
Asia Pacific
Disaggregation Of Revenue [Line Items]
Total revenue	$ 7,588	$ 9,438

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Assets fair value	$ 37,072	$ 57,920
Cash equivalents | Money Market Funds
Assets:
Assets fair value	4,150	4,847
Cash equivalents | Commercial Paper
Assets:
Assets fair value	9,393	26,964
Short-term Investments | Corporate Debt Securities
Assets:
Assets fair value	19,595	22,159
Short-term Investments | Asset-backed securities
Assets:
Assets fair value	3,934	3,950
Level 1
Assets:
Assets fair value	4,150	4,847
Level 1 | Cash equivalents | Money Market Funds
Assets:
Assets fair value	4,150	4,847
Level 2
Assets:
Assets fair value	32,922	53,073
Level 2 | Cash equivalents | Commercial Paper
Assets:
Assets fair value	9,393	26,964
Level 2 | Short-term Investments | Corporate Debt Securities
Assets:
Assets fair value	19,595	22,159
Level 2 | Short-term Investments | Asset-backed securities
Assets:
Assets fair value	$ 3,934	$ 3,950

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Carrying Value (Par Value for Convertible Debt) and Estimated Fair Value of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
2018 Credit Agreement | 2018 Term Loan
Carrying value and estimated fair value of debt
Fair Value	$ 135,000	$ 136,875
Carrying Value	135,000	136,875
Senior Convertible Notes 2016
Carrying value and estimated fair value of debt
Fair Value	236,325	262,775
Carrying Value	$ 230,000	$ 230,000

Long-Lived Assets - Summary of

Long-Lived Assets - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill RollForward
Beginning balance	$ 259,164
Tekzenit, Inc. acquisition	9,154
Effects of changes in foreign currency exchange rates	(5,485)
Ending balance	$ 262,833

Long-Lived Assets - Summary o_2

Long-Lived Assets - Summary of Carrying Value of Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 308,502	$ 306,835
Accumulated Amortization	(222,528)	(219,204)
Net Amount	85,974	87,631
Acquired client contracts
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	149,195	148,872
Accumulated Amortization	(93,866)	(93,767)
Net Amount	55,329	55,105
Software
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	159,307	157,963
Accumulated Amortization	(128,662)	(125,437)
Net Amount	$ 30,645	$ 32,526

Long-Lived Assets (Details Text

Long-Lived Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 6.3	$ 5.6
Estimated total amortization expense 2020	23.2
Estimated total amortization expense 2021	16
Estimated total amortization expense 2022	13.2
Estimated total amortization expense 2023	9.6
Estimated total amortization expense 2024	6.7
Client contract costs
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 4	$ 6

Long-Lived Assets - Summary o_3

Long-Lived Assets - Summary of Carrying Values of Client Contract Cost Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Capitalized Contract Cost [Abstract]
Client contract costs, Gross Carrying Amount	$ 86,611	$ 82,272
Client contract costs, Accumulated Amortization	(34,644)	(31,526)
Client contract costs, Net Amount	$ 51,967	$ 50,746

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less - unamortized original issue discount	$ (8,897)	$ (10,053)
Total debt, net of unamortized discounts	356,103	356,822
Current portion of long-term debt, net of unamortized discounts	(11,250)	(10,313)
Long-term debt, net of unamortized discounts	344,853	346,509
2018 Credit Agreement | 2018 Term Loan
Debt Instrument [Line Items]
Total long-term debt, gross	135,000	136,875
Less – deferred financing costs	(1,574)	(1,715)
Total debt, net of unamortized discounts	133,426	135,160
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Total long-term debt, gross	230,000	230,000
Less - unamortized original issue discount	(5,274)	(6,004)
Less – deferred financing costs	(2,049)	(2,334)
Total debt, net of unamortized discounts	$ 222,677	$ 221,662

Debt - Long-Term Debt (Parenthe

Debt - Long-Term Debt (Parenthetical) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
2018 Credit Agreement | 2018 Term Loan
Debt Instrument [Line Items]
Basis spread on term loan	1.50%
Term loan combined interest rate	2.95%	3.44%
Maturity period	Mar. 31, 2023
2018 Credit Agreement | Revolving Loan
Debt Instrument [Line Items]
Amount available under credit facility	$ 200,000,000
Maturity period	Mar. 31, 2023
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Maturity period	Mar. 15, 2036
Interest rate on senior subordinated convertible notes	4.25%

Debt - Credit Agreement (Detail

Debt - Credit Agreement (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Principal repayments	$ 1,875,000	$ 1,875,000
2018 Credit Agreement | Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.20%
2018 Credit Agreement | Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.375%
2018 Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on term loan	1.50%
2018 Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on term loan	2.50%
2018 Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on term loan	0.50%
2018 Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on term loan	1.50%
2018 Credit Agreement | Revolving Loan
Debt Instrument [Line Items]
Amount available under credit facility	$ 200,000,000
Credit facility term	5 years
Line of credit facility, unused capacity, commitment fee percentage	0.20%
Credit facility, outstanding borrowings	$ 0
Credit facility, current borrowing capacity	200,000,000
2018 Credit Agreement | 2018 Term Loan
Debt Instrument [Line Items]
Principal repayments	1,900,000
Term loan aggregate principal amount	$ 150,000,000
Term loan period	5 years
Term loan combined interest rate	2.95%		3.44%
Basis spread on term loan	1.50%

Debt - 2016 Convertible Notes (

Debt - 2016 Convertible Notes (Details Textual) - Senior Convertible Notes 2016 $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)Tradingday$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2018$ / shares
Debt Instrument [Line Items]
Percentage of par value of convertible notes to be settled in cash	100.00%
Initial conversion rate of common stock	17.6036	17.5843
Convertible Notes, initial conversion of Par Value Convertible Notes to common stock | $	$ 1	$ 1
Initial conversion price | $ / shares	$ 56.81		$ 56.87
Rate of conversion price	130.00%
Debt instrument, convertible, threshold consecutive trading days	30
Debt instrument, convertible, threshold trading days	20

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($)	Jan. 02, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Business acquisition, net of cash acquired		$ 9,991,000	$ 4,000,000
Goodwill acquired		9,154,000
Tekzenit, Inc.
Business Acquisition [Line Items]
Business acquisition date	Jan. 2, 2020
Business acquisition, net of cash acquired	$ 10,000,000
Earn out and qualified sales payments	$ 10,000,000
Earn out and qualified sales payments measurement period	3 years
Contingent purchase price liabilities	$ 1,500,000
Accrued earn out payments		0
Goodwill acquired	9,200,000
Tekzenit, Inc. | Acquired client contracts
Business Acquisition [Line Items]
Acquired client contracts	2,900,000
Tekzenit, Inc. | Contingent Purchase Price Payments
Business Acquisition [Line Items]
Earn out and qualified sales payments	6,000,000
Tekzenit, Inc. | Financial And Sales Criteria
Business Acquisition [Line Items]
Earn out and qualified sales payments	$ 4,000,000
Forte Payment Systems Inc
Business Acquisition [Line Items]
Business acquisition, net of cash acquired				$ 85,000,000
Earn out and qualified sales payments				$ 18,800,000
Accrued earn out payments		$ 2,500,000
Business acquisition, acquired equity percentage				100.00%
Business acquisition, cash consideration				$ 93,000,000
Potential future earn out payments measurement period				4 years

Commitments, Guarantees and C_2

Commitments, Guarantees and Contingencies (Details Textual)	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Warranty Period	90 days

Earnings Per Common Share - Rec

Earnings Per Common Share - Reconciliation of the Basic and Diluted EPS Denominators (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of the basic and diluted EPS denominators
Basic weighted-average common shares	31,994	32,128
Dilutive effect of restricted common stock	364	174
Dilutive effect of Stock Warrants		136
Diluted weighted-average common shares	32,358	32,438

Earnings Per Common Share (Deta

Earnings Per Common Share (Details Textual) - $ / shares	Mar. 31, 2020	Dec. 31, 2014
Earnings Per Common Share [Line Items]
Common stock warrants issued, per warrant		$ 26.68
Common Stock Warrants
Earnings Per Common Share [Line Items]
Common stock warrants issued, per warrant	$ 26.68

Stockholders' Equity and Equi_3

Stockholders' Equity and Equity Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2014
Stockholders Equity And Equity Compensation Plans [Line Items]
Remaining number of shares available for repurchase	4,800,000
Repurchase of common stock for employee tax withholdings, shares	157,000	103,000
Repurchase of common stock for tax withholdings, value	$ 7,600	$ 4,100
Cash dividends declared per common share	$ 0.235	$ 0.2225
Cash dividend	$ 7,700	$ 7,400
Stock warrants term			10 years
Stock warrants, exercise price			$ 26.68
Stock-based compensation expense	$ 4,857	$ 3,693
Performance Shares
Stockholders Equity And Equity Compensation Plans [Line Items]
Performance based awards granted to executive management and certain key employees shares	100,000
Vesting maturity date	first quarter of 2022
Vesting period	2 years
Restricted common stock
Stockholders Equity And Equity Compensation Plans [Line Items]
Vesting period	4 years
Comcast
Stockholders Equity And Equity Compensation Plans [Line Items]
Issuance of stock warrants			2,900,000
Stock warrants issued	1,000,000
Stock warrants vested	0
SEC Rule 10b5-1 Plan
Stockholders Equity And Equity Compensation Plans [Line Items]
Repurchase of common stock, shares	142,000	249,000
Total amount paid	$ 6,400	$ 9,300
Weighted-average price per share	$ 45.26	$ 37.37

Stockholders' Equity and Equi_4

Stockholders' Equity and Equity Compensation Plans - Summary of Unvested Restricted Common Stock Activity (Details) - Restricted common stock shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Shares
Shares, Unvested awards, beginning balance | shares	1,117
Shares, Awards granted | shares	498
Shares, Awards forfeited/cancelled | shares	(14)
Shares, Awards vested | shares	(448)
Shares, Unvested awards, ending balance | shares	1,153
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Unvested awards, beginning balance | $ / shares	$ 42.60
Weighted-Average Grant Date Fair Value, Awards granted | $ / shares	47.56
Weighted-Average Grant Date Fair Value, Awards forfeited/cancelled | $ / shares	43
Weighted-Average Grant Date Fair Value, Awards vested | $ / shares	43.23
Weighted-Average Grant Date Fair Value, Unvested awards, ending balance | $ / shares	$ 44.55