CSG Systems International (CSGS) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Entity Registrant Name	CSG SYSTEMS INTERNATIONAL, INC.
Entity Central Index Key	0001005757
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	CSGS
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		33,083,921
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	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 144,019	$ 156,548
Short-term investments	27,183	26,109
Total cash, cash equivalents and short-term investments	171,202	182,657
Settlement assets	139,248	169,327
Trade accounts receivable:
Billed, net of allowance of $4,057 and $3,735	244,413	244,058
Unbilled	35,941	33,450
Income taxes receivable	7,516	4,297
Other current assets	44,448	35,293
Total current assets	642,768	669,082
Non-current assets:
Property and equipment, net of depreciation of $100,883 and $98,029	84,689	84,429
Operating lease right-of-use assets	117,304	94,847
Intangible assets	81,917	87,631
Goodwill	262,774	259,164
Client contract costs, net of amortization of $37,827 and $31,526	41,561	50,746
Deferred income taxes	9,193	9,392
Other assets	29,176	27,739
Total non-current assets	626,614	613,948
Total assets	1,269,382	1,283,030
Current liabilities:
Current portion of long-term debt	12,188	10,313
Operating lease liabilities	21,771	22,442
Client deposits	37,278	38,687
Trade accounts payable	34,494	32,704
Accrued employee compensation	45,689	77,527
Settlement liabilities	137,894	168,342
Deferred revenue	52,195	45,094
Income taxes payable	7,632	2,806
Other current liabilities	21,626	20,778
Total current liabilities	370,767	418,693
Non-current liabilities:
Long-term debt, net of unamortized discounts of $7,726 and $10,053	342,274	346,509
Operating lease liabilities	102,609	78,936
Deferred revenue	16,772	18,552
Income taxes payable	2,706	2,543
Deferred income taxes	13,334	6,376
Other non-current liabilities	23,298	14,759
Total non-current liabilities	500,993	467,675
Total liabilities	871,760	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; 33,080 and 32,891 shares outstanding	699	696
Additional paid-in capital	458,362	454,663
Treasury stock, at cost; 35,507 and 35,356 shares	(874,592)	(867,817)
Accumulated other comprehensive income (loss):
Unrealized gains on short-term investments, net of tax	44	16
Cumulative foreign currency translation adjustments	(51,932)	(39,519)
Accumulated earnings	865,041	848,623
Total stockholders' equity	397,622	396,662
Total liabilities and stockholders' equity	1,269,382	1,283,030
Software
Non-current assets:
Intangible assets	29,141	32,526
Acquired client contracts
Non-current assets:
Intangible assets	$ 52,776	$ 55,105

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Trade accounts receivable-billed, allowance	$ 4,057	$ 3,735
Property and equipment, accumulated depreciation	100,883	98,029
Intangibles, accumulated amortization	228,326	219,204
Client contract costs, accumulated amortization	37,827	31,526
Long-term debt, unamortized discounts	$ 7,726	$ 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	33,080,000	32,891,000
Treasury stock, shares	35,507,000	35,356,000
Software
Intangibles, accumulated amortization	$ 131,835	$ 125,437
Acquired client contracts
Intangibles, accumulated amortization	$ 96,491	$ 93,767

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 240,321	$ 245,856	$ 485,938	$ 490,649
Cost of revenue (exclusive of depreciation, shown separately below)	138,153	132,234	269,359	261,197
Other operating expenses:
Research and development	29,263	30,645	59,600	63,236
Selling, general and administrative	44,999	45,372	89,383	91,290
Depreciation	5,634	5,441	11,199	10,554
Restructuring and reorganization charges	2,497	1,826	3,463	1,941
Total operating expenses	220,546	215,518	433,004	428,218
Operating income	19,775	30,338	52,934	62,431
Other income (expense):
Interest expense	(4,040)	(4,498)	(8,253)	(9,058)
Amortization of original issue discount	(740)	(700)	(1,470)	(1,390)
Interest and investment income, net	303	417	832	936
Other, net	(1,048)	1,280	(1,117)	(231)
Total other	(5,525)	(3,501)	(10,008)	(9,743)
Income before income taxes	14,250	26,837	42,926	52,688
Income tax provision	(3,884)	(7,458)	(11,046)	(14,058)
Net income	$ 10,366	$ 19,379	$ 31,880	$ 38,630
Weighted-average shares outstanding:
Basic	32,100	32,093	32,047	32,111
Diluted	32,258	32,458	32,308	32,448
Earnings per common share:
Basic	$ 0.32	$ 0.60	$ 0.99	$ 1.20
Diluted	$ 0.32	$ 0.60	$ 0.99	$ 1.19

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 10,366	$ 19,379	$ 31,880	$ 38,630
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	2,671	(3,818)	(12,413)	29
Unrealized holding gains on short-term investments arising during period	52	10	28	28
Other comprehensive income (loss), net of tax	2,723	(3,808)	(12,385)	57
Total comprehensive income, net of tax	$ 13,089	$ 15,571	$ 19,495	$ 38,687

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
Unrealized gain on short-term investments, net of tax						18
Foreign currency translation adjustments						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, 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	38,630
Unrealized gain on short-term investments, net of tax	28
Foreign currency translation adjustments	29
Total comprehensive income, net of tax	38,687
Balance, ending of period at Jun. 30, 2019	374,324	$ 696	9,082	446,512	(858,186)	(42,878)	819,098
Balance, ending of period, shares at Jun. 30, 2019		33,062
Balance, beginning of period at Mar. 31, 2019	367,510	$ 697	9,082	441,484	(851,650)	(39,070)	806,967
Balance, beginning of period, shares at Mar. 31, 2019		33,280
Net income	19,379						19,379
Unrealized gain on short-term investments, net of tax	10					10
Foreign currency translation adjustments	(3,818)					(3,818)
Total comprehensive income, net of tax	15,571
Repurchase of common stock	(6,919)			(383)	(6,536)
Repurchase of common stock, shares		(148)
Issuance of common stock pursuant to employee stock purchase plan	603			603
Issuance of common stock pursuant to employee stock purchase plan, shares		15
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		6
Cancellation of restricted common stock issued pursuant to stock-based compensation plans		$ (1)		1
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(91)
Stock-based compensation expense	4,807			4,807
Dividends	(7,248)						(7,248)
Balance, ending of period at Jun. 30, 2019	374,324	$ 696	$ 9,082	446,512	(858,186)	(42,878)	819,098
Balance, ending of period, shares at Jun. 30, 2019		33,062
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
Unrealized gain on short-term investments, net of tax						(24)
Foreign currency translation adjustments						(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
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	$ 31,880
Unrealized gain on short-term investments, net of tax	28
Foreign currency translation adjustments	(12,413)
Total comprehensive income, net of tax	19,495
Balance, ending of period at Jun. 30, 2020	$ 397,622	$ 699		458,362	(874,592)	(51,888)	865,041
Balance, ending of period, shares at Jun. 30, 2020	33,080	33,080
Balance, beginning of period at Mar. 31, 2020	$ 386,831	$ 699		452,524	(874,225)	(54,611)	862,444
Balance, beginning of period, shares at Mar. 31, 2020		33,075
Net income	10,366						10,366
Unrealized gain on short-term investments, net of tax	52					52
Foreign currency translation adjustments	2,671					2,671
Total comprehensive income, net of tax	13,089
Repurchase of common stock	(467)			(100)	(367)
Repurchase of common stock, shares		(11)
Issuance of common stock pursuant to employee stock purchase plan	683			683
Issuance of common stock pursuant to employee stock purchase plan, shares		18
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		12
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(14)
Stock-based compensation expense	5,255			5,255
Dividends	(7,769)						(7,769)
Balance, ending of period at Jun. 30, 2020	$ 397,622	$ 699		$ 458,362	$ (874,592)	$ (51,888)	$ 865,041
Balance, ending of period, shares at Jun. 30, 2020	33,080	33,080

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 31,880	$ 38,630
Adjustments to reconcile net income to net cash provided by operating activities-
Depreciation	11,199	10,554
Amortization	22,043	24,625
Amortization of original issue discount	1,470	1,390
Asset impairment	10,595	365
Gain on short-term investments and other	(110)	(170)
Deferred income taxes	6,771	4,181
Stock-based compensation	10,112	8,500
Changes in operating assets and liabilities, net of acquired amounts:
Trade accounts receivable, net	(6,286)	(31,751)
Other current and non-current assets and liabilities	(8,951)	(16,222)
Income taxes payable/receivable	1,332	(315)
Trade accounts payable and accrued liabilities	(36,381)	(17,328)
Deferred revenue	6,803	5,970
Net cash provided by operating activities	50,477	28,429
Cash flows from investing activities:
Purchases of software, property and equipment	(14,334)	(17,858)
Purchases of short-term investments	(35,112)	(22,542)
Proceeds from sale/maturity of short-term investments	34,185	28,753
Acquisition of and investments in business, net of cash acquired	(9,991)	(4,000)
Net cash used in investing activities	(25,252)	(15,647)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,247	1,115
Payment of cash dividends	(15,856)	(14,808)
Repurchase of common stock	(14,515)	(20,741)
Payments on long-term debt	(4,687)	(3,750)
Net cash used in financing activities	(33,811)	(38,184)
Effect of exchange rate fluctuations on cash	(3,943)	(98)
Net decrease in cash and cash equivalents	(12,529)	(25,500)
Cash and cash equivalents, beginning of period	156,548	139,277
Cash and cash equivalents, end of period	144,019	113,777
Cash paid during the period for-
Interest	7,327	8,110
Income taxes	$ 2,865	$ 10,244

General

General	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
General	1. GENERAL We have prepared the accompanying unaudited condensed consolidated financial statements as of June 30, 2020 and December 31, 2019, and for the quarters and six months ended June 30, 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 and six months ended June 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 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 70% 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 Americas (principally the U.S.) $ 209,926 $ 214,390 $ 426,923 $ 425,120 Europe, Middle East, and Africa 22,134 22,606 43,166 47,232 Asia Pacific 8,261 8,860 15,849 18,297 Total revenue $ 240,321 $ 245,856 $ 485,938 $ 490,649 Deferred revenue recognized during the quarter and six months ended June 30, 2020 was $9.7 million and $27.4 million, respectively. 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 June 30, 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 June 30, 2020 and December 31, 2019, we had $2.1 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 June 30, 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 June 30, 2020 and December 31, 2019 have contractual maturities of less than two years from the time of acquisition. Our short-term investments as of June 30, 2020 and December 31, 2019 consisted almost entirely of fixed income securities. Proceeds from the sale/maturity of short-term investments for the six months ended June 30, 2020 and 2019 were $34.2 million and $28.8 million, respectively. Our short-term investments as of June 30, 2020 and December 31, 2019 were $27.2 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): June 30, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 29,240 $ — $ 29,240 $ 4,847 $ — $ 4,847 Commercial paper — 5,797 5,797 — 26,964 26,964 Short-term investments: Corporate debt securities — 24,090 24,090 — 22,159 22,159 Asset-backed securities — 3,093 3,093 — 3,950 3,950 Total $ 29,240 $ 32,980 $ 62,220 $ 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): June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Value Value Value Value 2018 Credit Agreement (carrying value including current maturities) $ 132,188 $ 132,188 $ 136,875 $ 136,875 2016 Convertible debt (par value) 230,000 238,625 230,000 262,775 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 June 30, 2020, we held an 8% noncontrolling interest in a payment technology and services company with a carrying value of $6.5 million.

Long-Lived Assets

Long-Lived Assets	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2020 were as follows (in thousands): January 1, 2020 balance $ 259,164 Tekzenit, Inc. acquisition 9,154 Adjustments related to prior acquisitions (30 ) Effects of changes in foreign currency exchange rates (5,514 ) June 30, 2020 balance $ 262,774 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 June 30, 2020 and December 31, 2019, the carrying values of these assets were as follows (in thousands): June 30, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Acquired client contracts $ 149,267 $ (96,491 ) $ 52,776 $ 148,872 $ (93,767 ) $ 55,105 Software 160,976 (131,835 ) 29,141 157,963 (125,437 ) 32,526 Total intangible assets $ 310,243 $ (228,326 ) $ 81,917 $ 306,835 $ (219,204 ) $ 87,631 The total amortization expense related to other intangible assets for the second quarters of 2020 and 2019 were $6.3 million and $5.8 million, respectively, and for the six months ended June 30, 2020 and 2019 were $12.6 million and $11.4 million, respectively. Based on the June 30, 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 – $24.5 million; 2021 – $16.9 million; 2022 – $13.1 million; 2023 – $9.6 million; and 2024 – $6.7 million. Client Contract Costs . As of June 30, 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): June 30, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Client contract costs $ 79,388 $ (37,827 ) $ 41,561 $ 82,272 $ (31,526 ) $ 50,746 During the second quarter of 2020, we recorded an impairment charge of $10.3 million for the write-off of capitalized client contract costs related to a discontinued project implementation. This non-cash impairment charge is included primarily in cost of revenue in our Condensed Consolidated Statements of Income (“Income Statement”). The total amortization expense related to client contract costs for the second quarters of 2020 and 2019 were $4.6 million and $6.4 million, respectively, and for the six months ended June 30, 2020 and 2019 were $8.6 million and $12.4 million, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	4. DEBT Our long-term debt, as of June 30, 2020 and December 31, 2019, was as follows (in thousands): June 30, December 31, 2020 2019 2018 Credit Agreement: Term loan, due March 2023 $ 132,188 $ 136,875 Less – deferred financing costs (1,433 ) (1,715 ) 2018 term loan, net of unamortized discounts 130,755 135,160 $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 (4,534 ) (6,004 ) Less – deferred financing costs (1,759 ) (2,334 ) 2016 Convertible Notes, net of unamortized discounts 223,707 221,662 Total debt, net of unamortized discounts 354,462 356,822 Current portion of long-term debt, net of unamortized discounts (12,188 ) (10,313 ) Long-term debt, net of unamortized discounts $ 342,274 $ 346,509 2018 Credit Agreement During the six months ended June 30, 2020, we made $4.7 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 June 2020 (see Note 8), the previous conversion rate for the 2016 Convertible Notes of 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, has been adjusted to 17.6222 shares of our common stock per $1,000 principal amount of the 2016 Convertible Notes, which is equivalent to an initial conversion price of $56.75 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 June 30, 2020, none of the conversion features have been achieved, and thus, the 2016 Convertible Notes are not convertible by the holders.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisition	5. ACQUISITION 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.

Commitments, Guarantees and Con

Commitments, Guarantees and Contingencies	6 Months Ended
	Jun. 30, 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 June 30, 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 l osses 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 June 30 , 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	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 Basic weighted-average common shares 32,100 32,093 32,047 32,111 Dilutive effect of restricted common stock 158 182 261 178 Dilutive effect of Stock Warrants - 183 - 159 Diluted weighted-average common shares 32,258 32,458 32,308 32,448 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	6 Months Ended
	Jun. 30, 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 second quarters of 2020 and 2019 we repurchased approximately 9,000 shares of our common stock for $0.4 million (weighted-average price of $40.74 per share) and approximately 144,000 shares of our common stock for $6.5 million (weighted-average price of $45.39 per share), respectively, and during the six months ended June 30, 2020 and 2019 we repurchased approximately 151,000 shares of our common stock for $6.8 million (weighted-average price of $44.99 per share) and approximately 393,000 shares of our common stock for $15.8 million (weighted-average price of $40.31 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 June 30, 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 second quarters of 2020 and 2019 we repurchased and then cancelled approximately 2,000 shares of common stock for $0.1 million and approximately 4,000 shares of common stock for $0.4 million, respectively, and during the six months ended June 30, 2020 and 2019 we repurchased and then cancelled approximately 159,000 shares of common stock for $7.7 million and approximately 107,000 shares of common stock for $4.5 million, respectively, in connection with minimum tax withholding requirements resulting from the vesting of restricted common stock under our stock incentive plans. Stock Incentive Plan . In May 2020, our stockholders approved an increase of 3.6 million shares authorized for issuance under the Amended and Restated 2005 Stock Incentive Plan, from 21.4 million shares to 25.0 million shares. Cash During the second quarter of 2020, the Board approved a quarterly cash dividend of $0.235 per share of common stock, totaling $7.8 million. During the second quarter of 2019, the Board approved a quarterly cash dividend of $0.2225 per share of common stock, totaling $7.4 million. Dividends declared for the six months ended June 30, 2020 and 2019 totaled $15.5 million and $14.7 million, respectively. 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 June 30, 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 quarter and six months ended June 30, 2020 is as follows (shares in thousands): Quarter Ended Six Months Ended June 30, 2020 June 30, 2020 Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Unvested awards, beginning 1,153 $ 41.98 1,117 $ 42.60 Awards granted 14 46.31 512 41.50 Awards forfeited/cancelled (14 ) 44.21 (28 ) 42.75 Awards vested (10 ) 46.88 (458 ) 43.31 Unvested awards, ending 1,143 $ 41.98 1,143 $ 41.98 Included in the awards granted during the six months ended June 30, 2020 two-year The other restricted common stock shares granted during the six months ended June 30, 2020 We recorded stock-based compensation expense for the second quarters of 2020 and 2019 of $5.2 million and $4.8 million, respectively , .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 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 70% 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 Americas (principally the U.S.) $ 209,926 $ 214,390 $ 426,923 $ 425,120 Europe, Middle East, and Africa 22,134 22,606 43,166 47,232 Asia Pacific 8,261 8,860 15,849 18,297 Total revenue $ 240,321 $ 245,856 $ 485,938 $ 490,649 Deferred revenue recognized during the quarter and six months ended June 30, 2020 was $9.7 million and $27.4 million, respectively.
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 June 30, 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 June 30, 2020 and December 31, 2019, we had $2.1 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 June 30, 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 June 30, 2020 and December 31, 2019 have contractual maturities of less than two years from the time of acquisition. Our short-term investments as of June 30, 2020 and December 31, 2019 consisted almost entirely of fixed income securities. Proceeds from the sale/maturity of short-term investments for the six months ended June 30, 2020 and 2019 were $34.2 million and $28.8 million, respectively. Our short-term investments as of June 30, 2020 and December 31, 2019 were $27.2 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): June 30, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 29,240 $ — $ 29,240 $ 4,847 $ — $ 4,847 Commercial paper — 5,797 5,797 — 26,964 26,964 Short-term investments: Corporate debt securities — 24,090 24,090 — 22,159 22,159 Asset-backed securities — 3,093 3,093 — 3,950 3,950 Total $ 29,240 $ 32,980 $ 62,220 $ 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): June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Value Value Value Value 2018 Credit Agreement (carrying value including current maturities) $ 132,188 $ 132,188 $ 136,875 $ 136,875 2016 Convertible debt (par value) 230,000 238,625 230,000 262,775 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 June 30, 2020, we held an 8% noncontrolling interest in a payment technology and services company with a carrying value of $6.5 million.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 Americas (principally the U.S.) $ 209,926 $ 214,390 $ 426,923 $ 425,120 Europe, Middle East, and Africa 22,134 22,606 43,166 47,232 Asia Pacific 8,261 8,860 15,849 18,297 Total revenue $ 240,321 $ 245,856 $ 485,938 $ 490,649
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): June 30, 2020 December 31, 2019 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 29,240 $ — $ 29,240 $ 4,847 $ — $ 4,847 Commercial paper — 5,797 5,797 — 26,964 26,964 Short-term investments: Corporate debt securities — 24,090 24,090 — 22,159 22,159 Asset-backed securities — 3,093 3,093 — 3,950 3,950 Total $ 29,240 $ 32,980 $ 62,220 $ 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): June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Value Value Value Value 2018 Credit Agreement (carrying value including current maturities) $ 132,188 $ 132,188 $ 136,875 $ 136,875 2016 Convertible debt (par value) 230,000 238,625 230,000 262,775

Long-Lived Assets (Tables)

Long-Lived Assets (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2020 were January 1, 2020 balance $ 259,164 Tekzenit, Inc. acquisition 9,154 Adjustments related to prior acquisitions (30 ) Effects of changes in foreign currency exchange rates (5,514 ) June 30, 2020 balance $ 262,774
Summary of Carrying Value of Assets	As of June 30, 2020 and December 31, 2019, the carrying values of these assets were as follows (in thousands): June 30, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Acquired client contracts $ 149,267 $ (96,491 ) $ 52,776 $ 148,872 $ (93,767 ) $ 55,105 Software 160,976 (131,835 ) 29,141 157,963 (125,437 ) 32,526 Total intangible assets $ 310,243 $ (228,326 ) $ 81,917 $ 306,835 $ (219,204 ) $ 87,631
Summary of Carrying Values of Client Contract Cost Assets	As of June 30, 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): June 30, 2020 December 31, 2019 Gross Gross Carrying Accumulated Net Carrying Accumulated Net Amount Amortization Amount Amount Amortization Amount Client contract costs $ 79,388 $ (37,827 ) $ 41,561 $ 82,272 $ (31,526 ) $ 50,746

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt, as of June 30, 2020 and December 31, 2019, was as follows (in thousands): June 30, December 31, 2020 2019 2018 Credit Agreement: Term loan, due March 2023 $ 132,188 $ 136,875 Less – deferred financing costs (1,433 ) (1,715 ) 2018 term loan, net of unamortized discounts 130,755 135,160 $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 (4,534 ) (6,004 ) Less – deferred financing costs (1,759 ) (2,334 ) 2016 Convertible Notes, net of unamortized discounts 223,707 221,662 Total debt, net of unamortized discounts 354,462 356,822 Current portion of long-term debt, net of unamortized discounts (12,188 ) (10,313 ) Long-term debt, net of unamortized discounts $ 342,274 $ 346,509

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 Basic weighted-average common shares 32,100 32,093 32,047 32,111 Dilutive effect of restricted common stock 158 182 261 178 Dilutive effect of Stock Warrants - 183 - 159 Diluted weighted-average common shares 32,258 32,458 32,308 32,448

Stockholders' Equity and Equi_2

Stockholders' Equity and Equity Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Stockholders Equity Note [Abstract]
Summary of Unvested Restricted Common Stock Activity	A summary of our unvested restricted common stock activity during the quarter and six months ended June 30, 2020 is as follows (shares in thousands): Quarter Ended Six Months Ended June 30, 2020 June 30, 2020 Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Unvested awards, beginning 1,153 $ 41.98 1,117 $ 42.60 Awards granted 14 46.31 512 41.50 Awards forfeited/cancelled (14 ) 44.21 (28 ) 42.75 Awards vested (10 ) 46.88 (458 ) 43.31 Unvested awards, ending 1,143 $ 41.98 1,143 $ 41.98

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Aggregate amount of transaction price allocated to remaining performance obligations	$ 1,000,000	$ 1,000,000
Remaining performance obligations expected to be recognized, year	2028	2028
Deferred revenue recognized	$ 9,700	$ 27,400
Restricted cash	2,100	2,100		$ 2,700
Proceeds from sale/maturity of short-term investments		34,185	$ 28,753
Short-term investments	27,183	27,183		$ 26,109
Equity method investment, carrying value	$ 6,500	$ 6,500
Payment Technology and Services Company
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, noncontrolling interest	8.00%	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]
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: 2020-07-01	Jun. 30, 2020
Summary Of Significant Accounting Policies [Line Items]
Remaining performance obligations expected to be recognized, percentage	70.00%
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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 240,321	$ 245,856	$ 485,938	$ 490,649
Americas (principally the U.S.)
Disaggregation Of Revenue [Line Items]
Total revenue	209,926	214,390	426,923	425,120
Europe, Middle East, and Africa
Disaggregation Of Revenue [Line Items]
Total revenue	22,134	22,606	43,166	47,232
Asia Pacific
Disaggregation Of Revenue [Line Items]
Total revenue	$ 8,261	$ 8,860	$ 15,849	$ 18,297

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Assets fair value	$ 62,220	$ 57,920
Cash equivalents | Money Market Funds
Assets:
Assets fair value	29,240	4,847
Cash equivalents | Commercial Paper
Assets:
Assets fair value	5,797	26,964
Short-term Investments | Corporate Debt Securities
Assets:
Assets fair value	24,090	22,159
Short-term Investments | Asset-backed securities
Assets:
Assets fair value	3,093	3,950
Level 1
Assets:
Assets fair value	29,240	4,847
Level 1 | Cash equivalents | Money Market Funds
Assets:
Assets fair value	29,240	4,847
Level 2
Assets:
Assets fair value	32,980	53,073
Level 2 | Cash equivalents | Commercial Paper
Assets:
Assets fair value	5,797	26,964
Level 2 | Short-term Investments | Corporate Debt Securities
Assets:
Assets fair value	24,090	22,159
Level 2 | Short-term Investments | Asset-backed securities
Assets:
Assets fair value	$ 3,093	$ 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	Jun. 30, 2020	Dec. 31, 2019
2018 Credit Agreement | 2018 Term Loan
Carrying value and estimated fair value of debt
Fair Value	$ 132,188	$ 136,875
Carrying Value	132,188	136,875
Senior Convertible Notes 2016
Carrying value and estimated fair value of debt
Fair Value	238,625	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	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill RollForward
Beginning balance	$ 259,164
Tekzenit, Inc. acquisition	9,154
Adjustments related to prior acquisitions	(30)
Effects of changes in foreign currency exchange rates	(5,514)
Ending balance	$ 262,774

Long-Lived Assets - Summary o_2

Long-Lived Assets - Summary of Carrying Value of Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 310,243	$ 306,835
Accumulated Amortization	(228,326)	(219,204)
Net Amount	81,917	87,631
Acquired client contracts
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	149,267	148,872
Accumulated Amortization	(96,491)	(93,767)
Net Amount	52,776	55,105
Software
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	160,976	157,963
Accumulated Amortization	(131,835)	(125,437)
Net Amount	$ 29,141	$ 32,526

Long-Lived Assets (Details Text

Long-Lived Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 6.3	$ 5.8	$ 12.6	$ 11.4
Estimated total amortization expense 2020	24.5		24.5
Estimated total amortization expense 2021	16.9		16.9
Estimated total amortization expense 2022	13.1		13.1
Estimated total amortization expense 2023	9.6		9.6
Estimated total amortization expense 2024	6.7		6.7
Client contract costs
Finite Lived Intangible Assets [Line Items]
Total amortization expense	4.6	$ 6.4	$ 8.6	$ 12.4
Client contract costs | Cost of revenue
Finite Lived Intangible Assets [Line Items]
Impairment charge for write-off of capitalized client contract costs	$ 10.3

Long-Lived Assets - Summary o_3

Long-Lived Assets - Summary of Carrying Values of Client Contract Cost Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Capitalized Contract Cost [Abstract]
Client contract costs, Gross Carrying Amount	$ 79,388	$ 82,272
Client contract costs, Accumulated Amortization	(37,827)	(31,526)
Client contract costs, Net Amount	$ 41,561	$ 50,746

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less - unamortized original issue discount	$ (7,726)	$ (10,053)
Total debt, net of unamortized discounts	354,462	356,822
Current portion of long-term debt, net of unamortized discounts	(12,188)	(10,313)
Long-term debt, net of unamortized discounts	342,274	346,509
2018 Credit Agreement | 2018 Term Loan
Debt Instrument [Line Items]
Total long-term debt, gross	132,188	136,875
Less – deferred financing costs	(1,433)	(1,715)
Total debt, net of unamortized discounts	130,755	135,160
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Total long-term debt, gross	230,000	230,000
Less - unamortized original issue discount	(4,534)	(6,004)
Less – deferred financing costs	(1,759)	(2,334)
Total debt, net of unamortized discounts	$ 223,707	$ 221,662

Debt - Long-Term Debt (Parenthe

Debt - Long-Term Debt (Parenthetical) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 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	1.81%	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 ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Principal repayments	$ 4,687,000	$ 3,750,000
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	4,700,000
Term loan aggregate principal amount	$ 150,000,000
Term loan period	5 years
Term loan combined interest rate	1.81%		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	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)Tradingday$ / shares	Dec. 31, 2019USD ($)$ / 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	17.6222	17.6036
Convertible Notes, initial conversion of Par Value Convertible Notes to common stock | $	$ 1	$ 1
Initial conversion price | $ / shares	$ 56.75	$ 56.81
Rate of conversion price	130.00%
Debt instrument, convertible, threshold consecutive trading days	30
Debt instrument, convertible, threshold trading days	20

Acquisition (Details Textual)

Acquisition (Details Textual) - USD ($)	Jan. 02, 2020	Jun. 30, 2020	Jun. 30, 2019
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

Commitments, Guarantees and C_2

Commitments, Guarantees and Contingencies (Details Textual)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of the basic and diluted EPS denominators
Basic weighted-average common shares	32,100	32,093	32,047	32,111
Dilutive effect of restricted common stock	158	182	261	178
Dilutive effect of Stock Warrants		183		159
Diluted weighted-average common shares	32,258	32,458	32,308	32,448

Earnings Per Common Share (Deta

Earnings Per Common Share (Details Textual) - $ / shares	Jun. 30, 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	1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	May 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2014	Apr. 30, 2020
Stockholders Equity And Equity Compensation Plans [Line Items]
Remaining number of shares available for repurchase		4,800,000			4,800,000
Repurchase of common stock for employee tax withholdings, shares		2,000		4,000	159,000	107,000
Repurchase of common stock for tax withholdings, value		$ 100		$ 400	$ 7,700	$ 4,500
Cash dividends declared per common share		$ 0.235		$ 0.2225
Cash dividend		$ 7,800		$ 7,400	15,500	14,700
Stock warrants term							10 years
Stock warrants, exercise price							$ 26.68
Stock-based compensation expense		$ 5,200		$ 4,800	$ 10,112	$ 8,500
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			1,000,000
Stock warrants vested					0
Stock Incentive Plan 2005
Stockholders Equity And Equity Compensation Plans [Line Items]
Increase in number of shares approved for issuance under incentive plan	3,600,000
Number of shares approved for issuance under incentive plan	25,000,000							21,400,000
SEC Rule 10b5-1 Plan
Stockholders Equity And Equity Compensation Plans [Line Items]
Repurchase of common stock, shares		9,000		144,000	151,000	393,000
Total amount paid		$ 400		$ 6,500	$ 6,800	$ 15,800
Weighted-average price per share		$ 40.74		$ 45.39	$ 44.99	$ 40.31

Stockholders' Equity and Equi_4

Stockholders' Equity and Equity Compensation Plans - Summary of Unvested Restricted Common Stock Activity (Details) - Restricted common stock - $ / shares shares in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Shares
Shares, Unvested awards, beginning balance	1,153	1,117
Shares, Awards granted	14	512
Shares, Awards forfeited/cancelled	(14)	(28)
Shares, Awards vested	(10)	(458)
Shares, Unvested awards, ending balance	1,143	1,143
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Unvested awards, beginning balance	$ 41.98	$ 42.60
Weighted-Average Grant Date Fair Value, Awards granted	46.31	41.50
Weighted-Average Grant Date Fair Value, Awards forfeited/cancelled	44.21	42.75
Weighted-Average Grant Date Fair Value, Awards vested	46.88	43.31
Weighted-Average Grant Date Fair Value, Unvested awards, ending balance	$ 41.98	$ 41.98