Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document Documentand Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'ANSS | ' |
Entity Registrant Name | 'ANSYS INC | ' |
Entity Central Index Key | '0001013462 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 92,659,798 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $707,334 | $576,703 |
Short-term investments | 440 | 452 |
Accounts receivable, less allowance for doubtful accounts of $5,400 and $4,800, respectively | 79,912 | 96,598 |
Other receivables and current assets | 148,652 | 216,268 |
Deferred income taxes | 23,618 | 23,338 |
Total current assets | 959,956 | 913,359 |
Property and equipment, net | 54,952 | 52,253 |
Construction in progress leased facility | 11,222 | 0 |
Goodwill | 1,255,275 | 1,251,247 |
Other intangible assets, net | 305,833 | 351,173 |
Other long-term assets | 13,206 | 24,393 |
Deferred income taxes | 17,835 | 14,992 |
Total assets | 2,618,279 | 2,607,417 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 0 | 53,149 |
Accounts payable | 3,349 | 4,924 |
Accrued bonuses and commissions | 30,922 | 42,601 |
Accrued income taxes | 7,444 | 8,182 |
Deferred income taxes | 99 | 1,409 |
Other accrued expenses and liabilities | 60,102 | 61,329 |
Deferred revenue | 285,040 | 305,793 |
Total current liabilities | 386,956 | 477,387 |
Long-term liabilities: | ' | ' |
Non-cash obligation for construction in progress leased facility | 11,222 | 0 |
Deferred income taxes | 71,115 | 92,822 |
Other long-term liabilities | 60,688 | 96,917 |
Total long-term liabilities | 143,025 | 189,739 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $.01 par value; 2,000,000 shares authorized; zero shares issued or outstanding | 0 | 0 |
Common stock, $.01 par value; 300,000,000 shares authorized; 93,236,023 and 93,201,905 shares issued, respectively | 932 | 932 |
Additional paid-in capital | 921,780 | 927,368 |
Retained earnings | 1,208,889 | 1,039,491 |
Treasury stock, at cost: 584,195 and 536,231 shares, respectively | -43,129 | -36,151 |
Accumulated other comprehensive (loss) income | -174 | 8,651 |
Total stockholders' equity | 2,088,298 | 1,940,291 |
Total liabilities and stockholders' equity | $2,618,279 | $2,607,417 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts | $5,400 | $4,800 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 93,236,023 | 93,201,905 |
Treasury stock, shares | 584,195 | 536,231 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue: | ' | ' | ' | ' |
Software licenses | $129,185 | $123,027 | $381,177 | $359,933 |
Maintenance and service | 83,473 | 73,882 | 244,063 | 217,337 |
Total revenue | 212,658 | 196,909 | 625,240 | 577,270 |
Cost of sales: | ' | ' | ' | ' |
Software licenses | 6,244 | 5,473 | 19,978 | 17,758 |
Amortization | 9,215 | 10,244 | 29,073 | 30,583 |
Maintenance and service | 19,710 | 18,039 | 59,032 | 54,494 |
Total cost of sales | 35,169 | 33,756 | 108,083 | 102,835 |
Gross profit | 177,489 | 163,153 | 517,157 | 474,435 |
Operating expenses: | ' | ' | ' | ' |
Selling, general and administrative | 51,345 | 49,195 | 156,620 | 143,424 |
Research and development | 38,882 | 33,506 | 113,559 | 98,422 |
Amortization | 5,625 | 6,800 | 17,367 | 19,975 |
Total operating expenses | 95,852 | 89,501 | 287,546 | 261,821 |
Operating income | 81,637 | 73,652 | 229,611 | 212,614 |
Interest expense | -226 | -632 | -967 | -2,173 |
Interest income | 656 | 774 | 2,131 | 2,562 |
Other expense, net | -357 | -355 | -851 | -1,010 |
Income before income tax provision | 81,710 | 73,439 | 229,924 | 211,993 |
Income tax provision | 19,280 | 21,820 | 60,526 | 64,573 |
Net income | $62,430 | $51,619 | $169,398 | $147,420 |
Earnings per share - basic: | ' | ' | ' | ' |
Basic earnings per share | $0.67 | $0.56 | $1.83 | $1.59 |
Weighted average shares - basic | 92,541 | 92,448 | 92,770 | 92,631 |
Earnings per share - diluted: | ' | ' | ' | ' |
Diluted earnings per share | $0.66 | $0.54 | $1.78 | $1.55 |
Weighted average shares - diluted | 95,265 | 94,755 | 95,157 | 94,958 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $62,430 | $51,619 | $169,398 | $147,420 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustments | 5,477 | 7,049 | -8,825 | 2,497 |
Comprehensive income | $67,907 | $58,668 | $160,573 | $149,917 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $169,398 | $147,420 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 61,263 | 63,669 |
Deferred income tax benefit | -18,184 | -12,679 |
Provision for bad debts | 1,129 | 170 |
Stock-based compensation expense | 26,742 | 23,930 |
Excess tax benefits from stock options | -8,739 | -7,901 |
Other | 49 | 5 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 15,182 | 10,584 |
Other receivables and current assets | 23,363 | -6,394 |
Other long-term assets | 193 | -11,336 |
Accounts payable, accrued expenses and current liabilities | -14,971 | -9,794 |
Accrued income taxes | 8,860 | 8,521 |
Deferred revenue | 1,673 | 13,033 |
Other long-term liabilities | -17,936 | 9,599 |
Net cash provided by operating activities | 248,022 | 228,827 |
Cash flows from investing activities: | ' | ' |
Payments to Acquire Businesses, Net of Cash Acquired | -4,224 | -46,395 |
Capital expenditures | -14,147 | -17,882 |
Purchases of short-term investments | -147 | -181 |
Maturities of short-term investments | 97 | 293 |
Net cash used in investing activities | -18,421 | -64,165 |
Cash flows from financing activities: | ' | ' |
Principal payments on long-term debt | -53,149 | -47,834 |
Principal payments on capital leases | 0 | -14 |
Payments for Repurchase of Common Stock | -73,457 | -61,591 |
Payments Related to Tax Withholding for Share-based Compensation | -4,269 | 0 |
Payments of Merger Related Costs, Financing Activities | -3,174 | -3,241 |
Proceeds from issuance of common stock under Employee Stock Purchase Plan | 2,987 | 2,446 |
Proceeds from exercise of stock options | 26,633 | 19,249 |
Excess tax benefits from stock options | 8,739 | 7,901 |
Net cash used in financing activities | -95,690 | -83,084 |
Effect of exchange rate fluctuations on cash and cash equivalents | -3,280 | 1,481 |
Net increase in cash and cash equivalents | 130,631 | 83,059 |
Cash and cash equivalents, beginning of period | 576,703 | 471,828 |
Cash and cash equivalents, end of period | 707,334 | 554,887 |
Supplemental disclosures of cash flow information: | ' | ' |
Income taxes paid | 72,160 | 78,983 |
Interest paid | 735 | 1,735 |
Construction In Progress Leased Facility Supplemental Cash Flow | $11,222 | $0 |
Organization
Organization | 9 Months Ended |
Sep. 30, 2013 | |
Organization | ' |
Organization | |
ANSYS, Inc. (hereafter the "Company" or "ANSYS") develops and globally markets engineering simulation software and technologies widely used by engineers, designers, researchers and students across a broad spectrum of industries and academia, including aerospace, automotive, manufacturing, electronics, biomedical, energy and defense. | |
As defined by the accounting guidance, the Company operates as two segments. However, the Company determined that its two operating segments are sufficiently similar and should be aggregated under the criteria provided in the related accounting guidance. | |
Given the integrated approach to the multi-discipline problem-solving needs of the Company’s customers, a single sale of software may contain components from multiple product areas and include combined technologies. The Company also has a multi-year product and integration strategy that will result in new, combined products or changes to the historical product offerings. As a result, it is impracticable for the Company to provide accurate historical or current reporting among its various product lines. |
Accounting_Policies
Accounting Policies | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Accounting Policies | ' | |||||||||||
Accounting Policies | ||||||||||||
Basis of Presentation | ||||||||||||
The accompanying unaudited condensed consolidated financial statements have been prepared by ANSYS in accordance with accounting principles generally accepted in the United States for interim financial information for commercial and industrial companies and the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the accompanying statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements (and notes thereto) included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The condensed consolidated December 31, 2012 balance sheet presented is derived from the audited December 31, 2012 balance sheet included in the most recent Annual Report on Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial statements have been included, and all adjustments are of a normal and recurring nature. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for any future period. | ||||||||||||
Cash and Cash Equivalents | ||||||||||||
Cash and cash equivalents consist primarily of highly liquid investments such as deposits held at major banks and money market mutual funds. Cash equivalents are carried at cost, which approximates fair value. The Company’s cash and cash equivalent balances comprise the following: | ||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||
(in thousands, except percentages) | Amount | % of Total | Amount | % of Total | ||||||||
Cash accounts | $ | 400,468 | 56.6 | $ | 369,724 | 64.1 | ||||||
Money market mutual funds | 306,866 | 43.4 | 206,979 | 35.9 | ||||||||
Total | $ | 707,334 | $ | 576,703 | ||||||||
The Company held 98% of its money market mutual fund balances in various funds of a single issuer as of both September 30, 2013 and December 31, 2012. |
Acquisitions
Acquisitions | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Acquisitions | ' | |||
Acquisitions | ||||
EVEN - Evolutionary Engineering AG | ||||
On April 2, 2013, the Company acquired EVEN - Evolutionary Engineering AG ("EVEN"), a leading provider of composite analysis and optimization technology. Under the terms of the agreement, ANSYS acquired 100% of EVEN for a purchase price of $8.1 million, which consisted of $4.5 million in cash and an estimated $3.6 million of contingent consideration based on EVEN's achievement of certain technical milestones during the three years following the acquisition date. | ||||
The operating results of EVEN have been included in the Company's condensed consolidated financial statements since the date of acquisition, April 2, 2013. The total consideration transferred was allocated to the assets and liabilities of EVEN based on management's estimates of the fair values of the assets acquired and the liabilities assumed. The allocation included $2.6 million to identifiable intangible assets including customer lists and core technology, to be amortized over a period of five years, and $5.9 million to goodwill, which is not tax deductible. The fair values of the assets acquired and liabilities assumed are based on preliminary calculations and the estimates and assumptions for these items are subject to change as additional information about what was known and knowable at the acquisition date is obtained during the measurement period (up to one year from the acquisition date). The operating results of EVEN are not material to the condensed consolidated financial statements. | ||||
Esterel Technologies, S.A. | ||||
On August 1, 2012, the Company completed its acquisition of Esterel Technologies, S.A. ("Esterel"). Under the terms of the agreement, ANSYS acquired 100% of Esterel for a purchase price of $58.2 million, which included $13.1 million in acquired cash. The agreement also includes retention provisions for key members of management and employees, which are accounted for outside of the business combination. The Company funded the transaction entirely with existing cash balances. The operating results of Esterel have been included in the Company's condensed consolidated financial statements since the date of acquisition, August 1, 2012. | ||||
In valuing deferred revenue on the Esterel balance sheet as of the acquisition date, the Company applied the fair value provisions applicable to the accounting for business combinations. Although this acquisition accounting requirement had no impact on the Company’s business or cash flow, the Company’s reported revenue under accounting principles generally accepted in the United States, primarily for the first 12 months post-acquisition, will be less than the sum of what would otherwise have been reported by Esterel and ANSYS absent the acquisition. Acquired deferred revenue of $1.1 million was recorded on the opening balance sheet. This amount was approximately $11.0 million lower than the historical carrying value. The impact on reported revenue for the three and nine months ended September 30, 2013 was $0.7 million and $3.5 million, respectively. The expected impact on reported revenue is $0.6 million and $1.4 million for the quarter ending December 31, 2013 and for the year ending December 31, 2014, respectively. | ||||
The assets and liabilities of Esterel have been recorded based upon management's estimates of their fair market values as of the acquisition date. The following tables summarize the fair value of consideration transferred and the fair values of identified assets acquired and liabilities assumed at the acquisition date: | ||||
Fair Value of Consideration Transferred: | ||||
(in thousands) | ||||
Cash | $ | 58,150 | ||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: | ||||
(dollars in thousands) | ||||
Cash | $ | 13,075 | ||
Accounts receivable and other tangible assets | 4,737 | |||
Customer relationships (12-year life) | 21,421 | |||
Developed software (10-year life) | 10,717 | |||
Platform trade name (indefinite life) | 2,695 | |||
Accounts payable and other liabilities | (4,707 | ) | ||
Deferred revenue | (1,139 | ) | ||
Net deferred tax liabilities | (7,096 | ) | ||
Total identifiable net assets | $ | 39,703 | ||
Goodwill | $ | 18,447 | ||
The goodwill, which is not tax deductible, is attributed to intangible assets that do not qualify for separate recognition, including the assembled workforce of the acquired business and the synergies expected to arise as a result of the acquisition of Esterel. During the one-year measurement period since the Esterel acquisition date, the Company decreased the value of net deferred tax liabilities from $10.0 million to $7.1 million, with the offset recorded to goodwill. This adjustment was based on additional information regarding what was known and knowable in the calculation of the net deferred tax liabilities as of the acquisition date. |
Other_Current_Assets
Other Current Assets | 9 Months Ended |
Sep. 30, 2013 | |
Other Current Assets | ' |
Other Current Assets | |
The Company reports accounts receivable, related to the current portion of annual lease licenses and software maintenance that has not yet been recognized as revenue, as components of other receivables and current assets. These receivables totaled $95.1 million and $149.3 million as of September 30, 2013 and December 31, 2012, respectively. | |
The Company reports income taxes receivable, including amounts related to overpayments and refunds, as a component of other receivables and current assets. These amounts totaled $35.4 million and $48.9 million as of September 30, 2013 and December 31, 2012, respectively. |
Uncertain_Tax_Positions
Uncertain Tax Positions | 9 Months Ended | |
Sep. 30, 2013 | ||
Uncertain Tax Positions | ' | |
5 | Uncertain Tax Positions | |
The Company reports reserves for uncertain tax positions, including estimated penalties and interest, in the condensed consolidated balance sheets. These amounts totaled $36.5 million and $37.0 million as of September 30, 2013 and December 31, 2012, respectively. | ||
The Company believes that it is reasonably possible that $17.2 million of uncertain tax positions will be resolved within the next twelve months. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Earnings Per Share | ||||||||||||||||
Basic earnings per share ("EPS") amounts are computed by dividing earnings by the weighted average number of common shares outstanding during the period. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive equivalents outstanding. To the extent stock options are anti-dilutive, they are excluded from the calculation of diluted EPS. | ||||||||||||||||
The details of basic and diluted EPS are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands, except per share data) | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net income | $ | 62,430 | $ | 51,619 | $ | 169,398 | $ | 147,420 | ||||||||
Weighted average shares outstanding – basic | 92,541 | 92,448 | 92,770 | 92,631 | ||||||||||||
Dilutive effect of stock plans | 2,724 | 2,307 | 2,387 | 2,327 | ||||||||||||
Weighted average shares outstanding – diluted | 95,265 | 94,755 | 95,157 | 94,958 | ||||||||||||
Basic earnings per share | $ | 0.67 | $ | 0.56 | $ | 1.83 | $ | 1.59 | ||||||||
Diluted earnings per share | $ | 0.66 | $ | 0.54 | $ | 1.78 | $ | 1.55 | ||||||||
Anti-dilutive options | 1,148 | 1,216 | 1,145 | 1,291 | ||||||||||||
LongTerm_Debt
Long-Term Debt | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Long-Term Debt | ' | |||||||||||||||
Long-Term Debt | ||||||||||||||||
The Company paid the outstanding balance on its term loan at maturity on July 31, 2013. The Company recorded interest expense related to the term loan at average interest rates of 0.95% during July 2013 and 1.04% for the seven-month period ended July 31, 2013. For the three and nine months ended September 30, 2012, the Company recorded interest expense related to the term loan at average interest rates of 1.21% and 1.25%, respectively. | ||||||||||||||||
The interest expense on the term loan and amortization related to debt financing costs were as follows: | ||||||||||||||||
Three Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
(in thousands) | Interest | Amortization | Interest | Amortization | ||||||||||||
Expense | Expense | |||||||||||||||
July 31, 2008 term loan | $ | 22 | $ | 4 | $ | 329 | $ | 172 | ||||||||
Nine Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
(in thousands) | Interest | Amortization | Interest | Amortization | ||||||||||||
Expense | Expense | |||||||||||||||
July 31, 2008 term loan | $ | 230 | $ | 149 | $ | 1,117 | $ | 565 | ||||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | |||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||
As of September 30, 2013 and December 31, 2012, the Company’s intangible assets and estimated useful lives are classified as follows: | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||
(dollars in thousands) | Gross | Accumulated | Gross | Accumulated | ||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||
Amount | Amount | |||||||||||||||
Amortized intangible assets: | ||||||||||||||||
Developed software and core technologies (5 – 10 years) | $ | 300,295 | $ | (196,638 | ) | $ | 298,802 | $ | (175,988 | ) | ||||||
Customer lists and contract backlog (3 – 15 years) | 238,669 | (115,397 | ) | 241,721 | (100,702 | ) | ||||||||||
Trade names (6 – 10 years) | 102,625 | (48,341 | ) | 102,629 | (40,436 | ) | ||||||||||
Total | $ | 641,589 | $ | (360,376 | ) | $ | 643,152 | $ | (317,126 | ) | ||||||
Unamortized intangible assets: | ||||||||||||||||
Trade names | $ | 24,620 | $ | 25,147 | ||||||||||||
Amortization expense for the intangible assets reflected above was $14.8 million and $17.0 million for the three months ended September 30, 2013 and 2012, respectively. Amortization expense for the intangible assets reflected above was $46.4 million and $50.6 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||
As of September 30, 2013, estimated future amortization expense for the intangible assets reflected above is as follows: | ||||||||||||||||
(in thousands) | ||||||||||||||||
Remainder of 2013 | $ | 14,222 | ||||||||||||||
2014 | 54,219 | |||||||||||||||
2015 | 50,567 | |||||||||||||||
2016 | 43,414 | |||||||||||||||
2017 | 39,639 | |||||||||||||||
2018 | 26,019 | |||||||||||||||
Thereafter | 53,133 | |||||||||||||||
Total intangible assets subject to amortization | 281,213 | |||||||||||||||
Indefinite-lived trade names | 24,620 | |||||||||||||||
Other intangible assets, net | $ | 305,833 | ||||||||||||||
The change in goodwill during the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
(in thousands) | ||||||||||||||||
Beginning balance – January 1, 2013 | $ | 1,251,247 | ||||||||||||||
Acquisition of EVEN | 5,936 | |||||||||||||||
Currency translation and other | (1,908 | ) | ||||||||||||||
Ending balance – September 30, 2013 | $ | 1,255,275 | ||||||||||||||
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Measurement | ' | |||||||||||||||
Fair Value Measurement | ||||||||||||||||
The valuation hierarchy for disclosure of assets and liabilities reported at fair value prioritizes the inputs for such valuations into three broad levels: | ||||||||||||||||
• | Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; | |||||||||||||||
• | Level 2: quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; or | |||||||||||||||
• | Level 3: unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. | |||||||||||||||
A financial asset's or liability's classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. | ||||||||||||||||
The following tables provide the assets and liabilities carried at fair value and measured on a recurring basis: | ||||||||||||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||
(in thousands) | September 30, | Quoted Prices in | Significant Other | Significant | ||||||||||||
2013 | Active Markets | Observable | Unobservable | |||||||||||||
(Level 1) | Inputs | Inputs | ||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets | ||||||||||||||||
Cash equivalents | $ | 306,866 | $ | 306,866 | $ | — | $ | — | ||||||||
Short-term investments | $ | 440 | $ | — | $ | 440 | $ | — | ||||||||
Liabilities | ||||||||||||||||
Contingent consideration | $ | (7,205 | ) | $ | — | $ | — | $ | (7,205 | ) | ||||||
Deferred compensation | $ | (700 | ) | $ | — | $ | — | $ | (700 | ) | ||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||
(in thousands) | 31-Dec-12 | Quoted Prices in | Significant Other | Significant | ||||||||||||
Active Markets | Observable | Unobservable | ||||||||||||||
(Level 1) | Inputs | Inputs | ||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets | ||||||||||||||||
Cash equivalents | $ | 206,979 | $ | 206,979 | $ | — | $ | — | ||||||||
Short-term investments | $ | 452 | $ | — | $ | 452 | $ | — | ||||||||
Liabilities | ||||||||||||||||
Contingent consideration | $ | (6,436 | ) | $ | — | $ | — | $ | (6,436 | ) | ||||||
Deferred compensation | $ | (1,394 | ) | $ | — | $ | — | $ | (1,394 | ) | ||||||
Foreign currency future | $ | (240 | ) | $ | — | $ | (240 | ) | $ | — | ||||||
The cash equivalents in the preceding tables represent money market mutual funds. | ||||||||||||||||
The short-term investments in the preceding tables represent deposits held by certain foreign subsidiaries of the Company. The deposits have fixed interest rates with maturity dates ranging from three months to one year. | ||||||||||||||||
The contingent consideration in the table above represents potential future payments related to the EVEN and Apache Design, Inc. ("Apache") acquisitions in accordance with the respective merger agreements. The deferred compensation in the table above is attributable to a retention agreement for a key member of Apache management, and was accounted for outside of that business combination. The net present value calculations for the contingent consideration and deferred compensation include significant unobservable inputs in the assumption that all remaining payments will be made, and therefore the liabilities were classified as Level 3 in the fair value hierarchy. | ||||||||||||||||
The foreign currency future contract was settled in August 2013 and did not have a material impact on the Company's results of operations for the three or nine month periods ended September 30, 2013. | ||||||||||||||||
The following tables present the changes in the Company’s Level 3 liabilities that are measured at fair value on a recurring basis during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||
Significant Unobservable Inputs | ||||||||||||||||
(in thousands) | Contingent | Deferred | ||||||||||||||
Consideration | Compensation | |||||||||||||||
Balance as of January 1, 2013 | $ | 6,436 | $ | 1,394 | ||||||||||||
Interest expense included in earnings | 31 | 6 | ||||||||||||||
Balance as of March 31, 2013 | $ | 6,467 | $ | 1,400 | ||||||||||||
EVEN contingent consideration | 3,597 | — | ||||||||||||||
Interest expense and foreign exchange activity included in earnings | 134 | 7 | ||||||||||||||
Balance as of June 30, 2013 | $ | 10,198 | $ | 1,407 | ||||||||||||
Contingent payments | (3,288 | ) | (712 | ) | ||||||||||||
Interest expense and foreign exchange activity included in earnings | 295 | 5 | ||||||||||||||
Balance as of September 30, 2013 | $ | 7,205 | $ | 700 | ||||||||||||
Fair Value Measurement Using | ||||||||||||||||
Significant Unobservable Inputs | ||||||||||||||||
(in thousands) | Contingent | Deferred | ||||||||||||||
Consideration | Compensation | |||||||||||||||
Balance as of January 1, 2012 | $ | 9,571 | $ | 2,073 | ||||||||||||
Interest expense included in earnings | 43 | 9 | ||||||||||||||
Balance as of March 31, 2012 | $ | 9,614 | $ | 2,082 | ||||||||||||
Interest expense included in earnings | 43 | 9 | ||||||||||||||
Balance as of June 30, 2012 | $ | 9,657 | $ | 2,091 | ||||||||||||
Contingent payments | (3,288 | ) | (712 | ) | ||||||||||||
Interest expense included in earnings | 35 | 8 | ||||||||||||||
Balance as of September 30, 2012 | $ | 6,404 | $ | 1,387 | ||||||||||||
The carrying values of cash, accounts receivable, accounts payable, accrued expenses, other accrued liabilities and short-term obligations approximate their fair values because of their short-term nature. |
Geographic_Information
Geographic Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Geographic Information | ' | |||||||||||||||
Geographic Information | ||||||||||||||||
Revenue to external customers is attributed to individual countries based upon the location of the customer. Revenue by geographic area is as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands) | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
United States | $ | 72,671 | $ | 65,345 | $ | 214,342 | $ | 195,407 | ||||||||
Japan | 25,835 | 31,676 | 81,538 | 90,850 | ||||||||||||
Germany | 23,892 | 20,195 | 68,905 | 60,648 | ||||||||||||
Canada | 3,508 | 2,510 | 10,341 | 8,778 | ||||||||||||
Other European | 48,257 | 41,023 | 142,494 | 125,163 | ||||||||||||
Other international | 38,495 | 36,160 | 107,620 | 96,424 | ||||||||||||
Total revenue | $ | 212,658 | $ | 196,909 | $ | 625,240 | $ | 577,270 | ||||||||
Property and equipment by geographic area is as follows: | ||||||||||||||||
(in thousands) | September 30, | December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||||
United States | $ | 40,697 | $ | 36,716 | ||||||||||||
United Kingdom | 3,011 | 3,532 | ||||||||||||||
India | 2,892 | 3,392 | ||||||||||||||
France | 2,182 | 2,378 | ||||||||||||||
Germany | 2,109 | 2,087 | ||||||||||||||
Japan | 1,291 | 1,253 | ||||||||||||||
Canada | 635 | 753 | ||||||||||||||
Other international | 1,080 | 969 | ||||||||||||||
Other European | 1,055 | 1,173 | ||||||||||||||
Total property and equipment | $ | 54,952 | $ | 52,253 | ||||||||||||
Stock_Repurchase_Program
Stock Repurchase Program | 9 Months Ended | |
Sep. 30, 2013 | ||
Treasury Stock [Text Block] | ' | |
Stock Repurchase Program | ||
In February 2013, ANSYS announced that its Board of Directors approved an increase to its authorized stock repurchase program. Under the Company’s stock repurchase program, the Company repurchased 988,000 shares during the nine months ended September 30, 2013 at an average price per share of $74.35, for a total cost of $73.5 million. During the nine months ended September 30, 2012, the Company repurchased 1.0 million shares at an average price per share of $61.59, for a total cost of $61.6 million. As of September 30, 2013, approximately 2.0 million shares remained authorized for repurchase under the program. |
Stockbased_Compensation
Stock-based Compensation | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Stock-based Compensation | ' | |||||||||||||||
Stock-based Compensation | ||||||||||||||||
Total stock-based compensation expense and its net impact on basic and diluted earnings per share are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands, except per share data) | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Cost of sales: | ||||||||||||||||
Software licenses | $ | 335 | $ | 369 | $ | 1,023 | $ | 1,139 | ||||||||
Maintenance and service | 590 | 558 | 1,762 | 1,680 | ||||||||||||
Operating expenses: | ||||||||||||||||
Selling, general and administrative | 4,392 | 3,873 | 12,755 | 11,275 | ||||||||||||
Research and development | 3,764 | 3,304 | 11,202 | 9,836 | ||||||||||||
Stock-based compensation expense before taxes | 9,081 | 8,104 | 26,742 | 23,930 | ||||||||||||
Related income tax benefits | (2,623 | ) | (2,062 | ) | (8,490 | ) | (6,330 | ) | ||||||||
Stock-based compensation expense, net of taxes | $ | 6,458 | $ | 6,042 | $ | 18,252 | $ | 17,600 | ||||||||
Net impact on earnings per share | ||||||||||||||||
Basic earnings per share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.20 | ) | $ | (0.19 | ) | ||||
Diluted earnings per share | $ | (0.07 | ) | $ | (0.06 | ) | $ | (0.19 | ) | $ | (0.19 | ) |
Contingencies_and_Commitments
Contingencies and Commitments | 9 Months Ended |
Sep. 30, 2013 | |
Contingencies and Commitments | ' |
Contingencies and Commitments | |
The Company is subject to various investigations, claims and legal proceedings that arise in the ordinary course of business, including alleged infringement of intellectual property rights, commercial disputes, labor and employment matters, tax audits and other matters. In the opinion of the Company, the resolution of pending matters is not expected to have a material, adverse effect on the Company’s consolidated results of operations, cash flows or financial position. However, each of these matters is subject to various uncertainties and it is possible that an unfavorable resolution of one or more of these proceedings could materially affect the Company’s results of operations, cash flows or financial position. | |
An Indian subsidiary of the Company received a formal inquiry after a service tax audit. The service tax issues raised in the Company’s notice are very similar to the case, M/s Microsoft Corporation (I) (P) Ltd. Vs Commissions of Service Tax, currently being appealed to the Delhi Customs, Excise and Service Tax Appellate Tribunal (CESTAT). If the ruling is in favor of Microsoft, the Company expects a similar outcome for its audit case. If the ruling is unfavorable in the case of Microsoft, the Company could incur tax charges and related liabilities, including those related to the service tax audit case, of approximately $6 million. Of the two judicial members assigned to the Microsoft appeal, one member has ruled in favor of Microsoft and one has ruled in favor of the Commission. A third deciding judge will be appointed for a final decision. The Company can provide no assurances as to the outcome of the Microsoft appeal or to the impact of the Microsoft appeal on the Company’s audit case. The Company is uncertain as to when the service tax audit will be completed. | |
The Company sells software licenses and services to its customers under proprietary software license agreements. Each license agreement contains the relevant terms of the contractual arrangement with the customer, and generally includes certain provisions for indemnifying the customer against losses, expenses and liabilities from damages that are incurred by or awarded against the customer in the event the Company’s software or services are found to infringe upon a patent, copyright or other proprietary right of a third party. To date, the Company has not had to reimburse any of its customers for any losses related to these indemnification provisions and no material claims asserted under these indemnification provisions are outstanding as of September 30, 2013. For several reasons, including the lack of prior material indemnification claims, the Company cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions. |
SaleLeaseback_Arrangement_Note
Sale-Leaseback Arrangement (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Sale-Leaseback Arrangement [Abstract] | ' |
Sale Leaseback Transaction Disclosure [Text Block] | ' |
Sale-Leaseback Arrangement | |
In September 2012, ANSYS entered into a build-to-suit lease agreement for approximately 186,000 square feet of rentable space to be located in an office facility in Canonsburg, PA, which will serve as the Company's headquarters. The office facility will be delivered to the Company no later than October 1, 2014, with the base rental payments beginning three months thereafter. The term of the lease is 183 months. Under the terms of the agreement, the Company is responsible for paying the cost of certain tenant improvements that exceed an allowance to be paid by the landlord. There is no cap to the Company's obligation in excess of the landlord allowance, and the improvements do not meet the definition of "normal tenant improvements" as defined in the accounting guidance. As a result, the Company is considered the owner of the building during the construction period and the lease is subject to sale-leaseback treatment. | |
As of September 30, 2013, the Company has recorded an $11.2 million construction-in-progress asset and a corresponding liability for construction debt funded by the lessor on its condensed consolidated balance sheet. Upon completion and delivery of the building, the Company will determine whether the lease meets the criteria for capital treatment under the accounting guidance, or whether it has continuing involvement in the lease. If it is determined the lease fails to meet the capitalization criteria, and the Company does not have continuing involvement in the lease, the construction-in-progress asset and liability will be removed from the balance sheet. The sale-leaseback treatment of the lease during the construction period does not have any impact on the Company's results of operations or cash flows. |
New_Accounting_Guidance
New Accounting Guidance | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Guidance | ' |
New Accounting Guidance | |
Testing Indefinite-Lived Intangible Assets for Impairment: In July 2012, new accounting guidance was issued regarding the requirement to test indefinite-lived intangible assets for impairment. Previous guidance required an entity to test indefinite-lived intangible assets for impairment, on at least an annual basis, by comparing the fair value of the asset with its carrying amount. If the carrying amount of the intangible asset exceeds its fair value, an entity should recognize an impairment loss in the amount of that excess. Under the new guidance, an entity has an option not to calculate annually the fair value of an indefinite-lived intangible asset if the entity determines that it is not more likely than not that the asset is impaired. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the asset is impaired, then performing the quantitative test is unnecessary. However, if an entity concludes otherwise, then it is required to perform the quantitative test and record any impairment if necessary. This guidance was adopted by the Company effective January 1, 2013, and it did not have any impact on the Company's financial position, results of operations or cash flows. |
Accounting_Policies_Policies
Accounting Policies (Policies) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Basis of Presentation | ' | |||||||||||
Basis of Presentation | ||||||||||||
The accompanying unaudited condensed consolidated financial statements have been prepared by ANSYS in accordance with accounting principles generally accepted in the United States for interim financial information for commercial and industrial companies and the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the accompanying statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements (and notes thereto) included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The condensed consolidated December 31, 2012 balance sheet presented is derived from the audited December 31, 2012 balance sheet included in the most recent Annual Report on Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial statements have been included, and all adjustments are of a normal and recurring nature. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for any future period. | ||||||||||||
Cash and Cash Equivalents | ' | |||||||||||
Cash and Cash Equivalents | ||||||||||||
Cash and cash equivalents consist primarily of highly liquid investments such as deposits held at major banks and money market mutual funds. Cash equivalents are carried at cost, which approximates fair value. The Company’s cash and cash equivalent balances comprise the following: | ||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||
(in thousands, except percentages) | Amount | % of Total | Amount | % of Total | ||||||||
Cash accounts | $ | 400,468 | 56.6 | $ | 369,724 | 64.1 | ||||||
Money market mutual funds | 306,866 | 43.4 | 206,979 | 35.9 | ||||||||
Total | $ | 707,334 | $ | 576,703 | ||||||||
The Company held 98% of its money market mutual fund balances in various funds of a single issuer as of both September 30, 2013 and December 31, 2012. |
Accounting_Policies_Tables
Accounting Policies (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Cash and Cash Equivalents | ' | |||||||||||
The Company’s cash and cash equivalent balances comprise the following: | ||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||
(in thousands, except percentages) | Amount | % of Total | Amount | % of Total | ||||||||
Cash accounts | $ | 400,468 | 56.6 | $ | 369,724 | 64.1 | ||||||
Money market mutual funds | 306,866 | 43.4 | 206,979 | 35.9 | ||||||||
Total | $ | 707,334 | $ | 576,703 | ||||||||
Acquisitions_Tables
Acquisitions (Tables) (Esterel Technologies Societe Anonyme [Member]) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Esterel Technologies Societe Anonyme [Member] | ' | |||
Fair Value of Consideration Transferred | ' | |||
Fair Value of Consideration Transferred: | ||||
(in thousands) | ||||
Cash | $ | 58,150 | ||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed | ' | |||
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: | ||||
(dollars in thousands) | ||||
Cash | $ | 13,075 | ||
Accounts receivable and other tangible assets | 4,737 | |||
Customer relationships (12-year life) | 21,421 | |||
Developed software (10-year life) | 10,717 | |||
Platform trade name (indefinite life) | 2,695 | |||
Accounts payable and other liabilities | (4,707 | ) | ||
Deferred revenue | (1,139 | ) | ||
Net deferred tax liabilities | (7,096 | ) | ||
Total identifiable net assets | $ | 39,703 | ||
Goodwill | $ | 18,447 | ||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Details of Basic and Diluted EPS | ' | |||||||||||||||
The details of basic and diluted EPS are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands, except per share data) | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net income | $ | 62,430 | $ | 51,619 | $ | 169,398 | $ | 147,420 | ||||||||
Weighted average shares outstanding – basic | 92,541 | 92,448 | 92,770 | 92,631 | ||||||||||||
Dilutive effect of stock plans | 2,724 | 2,307 | 2,387 | 2,327 | ||||||||||||
Weighted average shares outstanding – diluted | 95,265 | 94,755 | 95,157 | 94,958 | ||||||||||||
Basic earnings per share | $ | 0.67 | $ | 0.56 | $ | 1.83 | $ | 1.59 | ||||||||
Diluted earnings per share | $ | 0.66 | $ | 0.54 | $ | 1.78 | $ | 1.55 | ||||||||
Anti-dilutive options | 1,148 | 1,216 | 1,145 | 1,291 | ||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Interest Expense on Term Loan and Amortization Related to Debt Financing Costs | ' | |||||||||||||||
The interest expense on the term loan and amortization related to debt financing costs were as follows: | ||||||||||||||||
Three Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
(in thousands) | Interest | Amortization | Interest | Amortization | ||||||||||||
Expense | Expense | |||||||||||||||
July 31, 2008 term loan | $ | 22 | $ | 4 | $ | 329 | $ | 172 | ||||||||
Nine Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | |||||||||||||||
(in thousands) | Interest | Amortization | Interest | Amortization | ||||||||||||
Expense | Expense | |||||||||||||||
July 31, 2008 term loan | $ | 230 | $ | 149 | $ | 1,117 | $ | 565 | ||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Intangible Assets and Estimated Useful Lives | ' | |||||||||||||||
As of September 30, 2013 and December 31, 2012, the Company’s intangible assets and estimated useful lives are classified as follows: | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||
(dollars in thousands) | Gross | Accumulated | Gross | Accumulated | ||||||||||||
Carrying | Amortization | Carrying | Amortization | |||||||||||||
Amount | Amount | |||||||||||||||
Amortized intangible assets: | ||||||||||||||||
Developed software and core technologies (5 – 10 years) | $ | 300,295 | $ | (196,638 | ) | $ | 298,802 | $ | (175,988 | ) | ||||||
Customer lists and contract backlog (3 – 15 years) | 238,669 | (115,397 | ) | 241,721 | (100,702 | ) | ||||||||||
Trade names (6 – 10 years) | 102,625 | (48,341 | ) | 102,629 | (40,436 | ) | ||||||||||
Total | $ | 641,589 | $ | (360,376 | ) | $ | 643,152 | $ | (317,126 | ) | ||||||
Unamortized intangible assets: | ||||||||||||||||
Trade names | $ | 24,620 | $ | 25,147 | ||||||||||||
Estimated Future Amortization Expense for Intangible Assets | ' | |||||||||||||||
s of September 30, 2013, estimated future amortization expense for the intangible assets reflected above is as follows: | ||||||||||||||||
(in thousands) | ||||||||||||||||
Remainder of 2013 | $ | 14,222 | ||||||||||||||
2014 | 54,219 | |||||||||||||||
2015 | 50,567 | |||||||||||||||
2016 | 43,414 | |||||||||||||||
2017 | 39,639 | |||||||||||||||
2018 | 26,019 | |||||||||||||||
Thereafter | 53,133 | |||||||||||||||
Total intangible assets subject to amortization | 281,213 | |||||||||||||||
Indefinite-lived trade names | 24,620 | |||||||||||||||
Other intangible assets, net | $ | 305,833 | ||||||||||||||
Changes in Goodwill | ' | |||||||||||||||
he change in goodwill during the nine months ended September 30, 2013 was as follows: | ||||||||||||||||
(in thousands) | ||||||||||||||||
Beginning balance – January 1, 2013 | $ | 1,251,247 | ||||||||||||||
Acquisition of EVEN | 5,936 | |||||||||||||||
Currency translation and other | (1,908 | ) | ||||||||||||||
Ending balance – September 30, 2013 | $ | 1,255,275 | ||||||||||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value of Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||
The following tables provide the assets and liabilities carried at fair value and measured on a recurring basis: | ||||||||||||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||
(in thousands) | September 30, | Quoted Prices in | Significant Other | Significant | ||||||||||||
2013 | Active Markets | Observable | Unobservable | |||||||||||||
(Level 1) | Inputs | Inputs | ||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets | ||||||||||||||||
Cash equivalents | $ | 306,866 | $ | 306,866 | $ | — | $ | — | ||||||||
Short-term investments | $ | 440 | $ | — | $ | 440 | $ | — | ||||||||
Liabilities | ||||||||||||||||
Contingent consideration | $ | (7,205 | ) | $ | — | $ | — | $ | (7,205 | ) | ||||||
Deferred compensation | $ | (700 | ) | $ | — | $ | — | $ | (700 | ) | ||||||
Fair Value Measurements at Reporting Date Using: | ||||||||||||||||
(in thousands) | 31-Dec-12 | Quoted Prices in | Significant Other | Significant | ||||||||||||
Active Markets | Observable | Unobservable | ||||||||||||||
(Level 1) | Inputs | Inputs | ||||||||||||||
(Level 2) | (Level 3) | |||||||||||||||
Assets | ||||||||||||||||
Cash equivalents | $ | 206,979 | $ | 206,979 | $ | — | $ | — | ||||||||
Short-term investments | $ | 452 | $ | — | $ | 452 | $ | — | ||||||||
Liabilities | ||||||||||||||||
Contingent consideration | $ | (6,436 | ) | $ | — | $ | — | $ | (6,436 | ) | ||||||
Deferred compensation | $ | (1,394 | ) | $ | — | $ | — | $ | (1,394 | ) | ||||||
Foreign currency future | $ | (240 | ) | $ | — | $ | (240 | ) | $ | — | ||||||
Changes in Level 3 Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs | ' | |||||||||||||||
The following tables present the changes in the Company’s Level 3 liabilities that are measured at fair value on a recurring basis during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||
Significant Unobservable Inputs | ||||||||||||||||
(in thousands) | Contingent | Deferred | ||||||||||||||
Consideration | Compensation | |||||||||||||||
Balance as of January 1, 2013 | $ | 6,436 | $ | 1,394 | ||||||||||||
Interest expense included in earnings | 31 | 6 | ||||||||||||||
Balance as of March 31, 2013 | $ | 6,467 | $ | 1,400 | ||||||||||||
EVEN contingent consideration | 3,597 | — | ||||||||||||||
Interest expense and foreign exchange activity included in earnings | 134 | 7 | ||||||||||||||
Balance as of June 30, 2013 | $ | 10,198 | $ | 1,407 | ||||||||||||
Contingent payments | (3,288 | ) | (712 | ) | ||||||||||||
Interest expense and foreign exchange activity included in earnings | 295 | 5 | ||||||||||||||
Balance as of September 30, 2013 | $ | 7,205 | $ | 700 | ||||||||||||
Fair Value Measurement Using | ||||||||||||||||
Significant Unobservable Inputs | ||||||||||||||||
(in thousands) | Contingent | Deferred | ||||||||||||||
Consideration | Compensation | |||||||||||||||
Balance as of January 1, 2012 | $ | 9,571 | $ | 2,073 | ||||||||||||
Interest expense included in earnings | 43 | 9 | ||||||||||||||
Balance as of March 31, 2012 | $ | 9,614 | $ | 2,082 | ||||||||||||
Interest expense included in earnings | 43 | 9 | ||||||||||||||
Balance as of June 30, 2012 | $ | 9,657 | $ | 2,091 | ||||||||||||
Contingent payments | (3,288 | ) | (712 | ) | ||||||||||||
Interest expense included in earnings | 35 | 8 | ||||||||||||||
Balance as of September 30, 2012 | $ | 6,404 | $ | 1,387 | ||||||||||||
Geographic_Information_Tables
Geographic Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Revenue by Geographic Area | ' | |||||||||||||||
Revenue by geographic area is as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands) | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
United States | $ | 72,671 | $ | 65,345 | $ | 214,342 | $ | 195,407 | ||||||||
Japan | 25,835 | 31,676 | 81,538 | 90,850 | ||||||||||||
Germany | 23,892 | 20,195 | 68,905 | 60,648 | ||||||||||||
Canada | 3,508 | 2,510 | 10,341 | 8,778 | ||||||||||||
Other European | 48,257 | 41,023 | 142,494 | 125,163 | ||||||||||||
Other international | 38,495 | 36,160 | 107,620 | 96,424 | ||||||||||||
Total revenue | $ | 212,658 | $ | 196,909 | $ | 625,240 | $ | 577,270 | ||||||||
Property and Equipment by Geographic Area | ' | |||||||||||||||
Property and equipment by geographic area is as follows: | ||||||||||||||||
(in thousands) | September 30, | December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||||
United States | $ | 40,697 | $ | 36,716 | ||||||||||||
United Kingdom | 3,011 | 3,532 | ||||||||||||||
India | 2,892 | 3,392 | ||||||||||||||
France | 2,182 | 2,378 | ||||||||||||||
Germany | 2,109 | 2,087 | ||||||||||||||
Japan | 1,291 | 1,253 | ||||||||||||||
Canada | 635 | 753 | ||||||||||||||
Other international | 1,080 | 969 | ||||||||||||||
Other European | 1,055 | 1,173 | ||||||||||||||
Total property and equipment | $ | 54,952 | $ | 52,253 | ||||||||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Stock-Based Compensation Expense, and its net Impact on Basic and Diluted Earnings per Share | ' | |||||||||||||||
Total stock-based compensation expense and its net impact on basic and diluted earnings per share are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
(in thousands, except per share data) | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Cost of sales: | ||||||||||||||||
Software licenses | $ | 335 | $ | 369 | $ | 1,023 | $ | 1,139 | ||||||||
Maintenance and service | 590 | 558 | 1,762 | 1,680 | ||||||||||||
Operating expenses: | ||||||||||||||||
Selling, general and administrative | 4,392 | 3,873 | 12,755 | 11,275 | ||||||||||||
Research and development | 3,764 | 3,304 | 11,202 | 9,836 | ||||||||||||
Stock-based compensation expense before taxes | 9,081 | 8,104 | 26,742 | 23,930 | ||||||||||||
Related income tax benefits | (2,623 | ) | (2,062 | ) | (8,490 | ) | (6,330 | ) | ||||||||
Stock-based compensation expense, net of taxes | $ | 6,458 | $ | 6,042 | $ | 18,252 | $ | 17,600 | ||||||||
Net impact on earnings per share | ||||||||||||||||
Basic earnings per share | $ | (0.07 | ) | $ | (0.07 | ) | $ | (0.20 | ) | $ | (0.19 | ) | ||||
Diluted earnings per share | $ | (0.07 | ) | $ | (0.06 | ) | $ | (0.19 | ) | $ | (0.19 | ) |
Organization_Additional_Inform
Organization - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Segment | |
Organization and Nature of Operations [Line Items] | ' |
Number of operating segments | 2 |
Cash_and_Cash_Equivalents_Deta
Cash and Cash Equivalents (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Line Items] | ' | ' | ' | ' |
Cash accounts, Amount | $400,468 | $369,724 | ' | ' |
Money market mutual funds, Amount | 306,866 | 206,979 | ' | ' |
Total | $707,334 | $576,703 | $554,887 | $471,828 |
Cash accounts, % of Total | 56.60% | 64.10% | ' | ' |
Money market mutual funds, % of Total | 43.40% | 35.90% | ' | ' |
Accounting_Policies_Cash_and_C
Accounting Policies Cash and Cash Equivalents (Parenthetical) (Details) (Cash and Cash Equivalents [Member], Money Market Funds [Member]) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | ' | ' |
Concentration Risk [Line Items] | ' | ' |
Concentration Risk, Percentage | 98.00% | 98.00% |
Acquisition_Additional_Informa
Acquisition - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 01, 2012 | Apr. 03, 2013 | Aug. 01, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | EVEN-Evolutionary Engineering Aktiengesellschaft [Member] | Esterel Technologies Societe Anonyme [Member] | Esterel Technologies Societe Anonyme [Member] | Esterel Technologies Societe Anonyme [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | $8,100 | $58,150 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | ' | ' | ' | ' | 13,075 | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | 4,500 | ' | ' | ' |
Business acquisition, acquisition percentage | ' | ' | ' | 100.00% | 100.00% | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | ' | ' | ' | ' | 1,139 | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | ' | ' | 3,597 | ' | ' | ' |
Acquired deferred revenue, amount lower than the historical carrying value recorded on the opening balance sheet | ' | ' | ' | ' | -10,973 | ' | ' |
Business Acquisition Write Down Of Deferred Revenue Impact On Reported Revenue | ' | ' | ' | ' | ' | 670 | 3,544 |
Acquired deferred revenue, expected impact on reported revenue in next quarter | ' | ' | ' | ' | ' | 588 | 588 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | ' | ' | 2,600 | ' | ' | ' |
Goodwill | 1,255,275 | 1,251,247 | ' | 5,936 | 18,447 | ' | ' |
Business Acquisition Write Down Of Deferred Revenue Expected Impact On Revenue Next Fiscal Year | ' | ' | ' | ' | ' | 1,386 | 1,386 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | $10,000 | ' | ($7,096) | ' | ' |
Recognized_Amounts_of_Identifi
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 01, 2012 | Aug. 01, 2012 | Aug. 01, 2012 | Aug. 01, 2012 | Aug. 01, 2012 |
In Thousands, unless otherwise specified | Esterel Technologies Societe Anonyme [Member] | Esterel Technologies Societe Anonyme [Member] | Esterel Technologies Societe Anonyme [Member] | Platform Trade Names [Member] | |||
Developed Software | Customer Relationships | Esterel Technologies Societe Anonyme [Member] | |||||
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | $58,150 | ' | ' | ' |
Cash and short-term investments | ' | ' | ' | 13,075 | ' | ' | ' |
Accounts receivable and other tangible assets | ' | ' | ' | 4,737 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | ' | ' | ' | ' | 10,717 | 21,421 | 2,695 |
Accounts payable and other liabilities | ' | ' | ' | -4,707 | ' | ' | ' |
Deferred revenue | ' | ' | ' | -1,139 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | ' | ' | 10,000 | -7,096 | ' | ' | ' |
Total identifiable net assets | ' | ' | ' | 39,703 | ' | ' | ' |
Goodwill | $1,255,275 | $1,251,247 | ' | $18,447 | ' | ' | ' |
Recognized_Amounts_of_Identifi1
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) (Esterel Technologies Societe Anonyme [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
Developed Software | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' |
Useful life of intangible assets acquired, in years | '10 years |
Customer Relationships | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' |
Useful life of intangible assets acquired, in years | '12 years |
Other_Current_Assets_Additiona
Other Current Assets - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other receivables and current assets | $148,652 | $216,268 |
Deferred Accounts Receivable Current Portion Of Annual Lease Licenses And Software Maintenance [Member] | ' | ' |
Other receivables and current assets | 95,100 | 149,300 |
Taxes Receivable Related To Overpayments And Refunds | ' | ' |
Other receivables and current assets | $35,400 | $48,900 |
Uncertain_Tax_Positions_Additi
Uncertain Tax Positions - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Contingency [Line Items] | ' | ' |
Unrecognized Tax Benefits Accrued Including Income Tax Penalties And Interest | $36.50 | $37 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $17.20 | ' |
Details_of_Basic_and_Diluted_E
Details of Basic and Diluted EPS (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Line Items] | ' | ' | ' | ' |
Net income | $62,430 | $51,619 | $169,398 | $147,420 |
Weighted average shares outstanding - basic | 92,541 | 92,448 | 92,770 | 92,631 |
Dilutive effect of stock plans | 2,724 | 2,307 | 2,387 | 2,327 |
Weighted average shares outstanding - diluted | 95,265 | 94,755 | 95,157 | 94,958 |
Basic earnings per share | $0.67 | $0.56 | $1.83 | $1.59 |
Diluted earnings per share | $0.66 | $0.54 | $1.78 | $1.55 |
Anti-dilutive options | 1,148 | 1,216 | 1,145 | 1,291 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Quarterly principal payments | ' | ' | $53,149 | $47,834 |
Interest rate on term loan | 0.95% | 1.21% | 1.04% | 1.25% |
Interest_Expense_on_Term_Loan_
Interest Expense on Term Loan and Amortization Related to Debt Financing Costs (Detail) (July 31, 2008 Term Loan, USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
July 31, 2008 Term Loan | ' | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' | ' |
Interest Expense | $22 | $329 | $230 | $1,117 |
Amortization | $4 | $172 | $149 | $565 |
Intangible_Assets_and_Estimate
Intangible Assets and Estimated Useful Lives (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Intangible Assets [Line Items] | ' | ' |
Amortized intangible assets, Gross Carrying Amount | $641,589 | $643,152 |
Amortized intangible assets, Accumulated Amortization | -360,376 | -317,126 |
Unamortized intangible assets, Gross Carrying Amount | 24,620 | ' |
Trade Names [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Amortized intangible assets, Gross Carrying Amount | 102,625 | 102,629 |
Amortized intangible assets, Accumulated Amortization | -48,341 | -40,436 |
Developed software and core technologies | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Amortized intangible assets, Gross Carrying Amount | 300,295 | 298,802 |
Amortized intangible assets, Accumulated Amortization | -196,638 | -175,988 |
Customer lists and contract backlog | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Amortized intangible assets, Gross Carrying Amount | 238,669 | 241,721 |
Amortized intangible assets, Accumulated Amortization | -115,397 | -100,702 |
Trade Names [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Unamortized intangible assets, Gross Carrying Amount | $24,620 | $25,147 |
Intangible_Assets_and_Estimate1
Intangible Assets and Estimated Useful Lives (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Minimum | Trade Names [Member] | ' |
Intangible Assets [Line Items] | ' |
Amortized intangible assets, Useful life, in years | '6 years |
Minimum | Developed software and core technologies | ' |
Intangible Assets [Line Items] | ' |
Amortized intangible assets, Useful life, in years | '5 years |
Minimum | Customer lists and contract backlog | ' |
Intangible Assets [Line Items] | ' |
Amortized intangible assets, Useful life, in years | '3 years |
Maximum | Trade Names [Member] | ' |
Intangible Assets [Line Items] | ' |
Amortized intangible assets, Useful life, in years | '10 years |
Maximum | Developed software and core technologies | ' |
Intangible Assets [Line Items] | ' |
Amortized intangible assets, Useful life, in years | '10 years |
Maximum | Customer lists and contract backlog | ' |
Intangible Assets [Line Items] | ' |
Amortized intangible assets, Useful life, in years | '15 years |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' |
Amortization expense for intangible assets | $14.80 | $17 | $46.40 | $50.60 |
Estimated_Future_Amortization_
Estimated Future Amortization Expense for Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Estimated Amortization Expense for Intangible Assets and Unfavorable Lease Liability [Line Items] | ' | ' |
Remainder of 2013 | $14,222 | ' |
2014 | 54,219 | ' |
2015 | 50,567 | ' |
2016 | 43,414 | ' |
2017 | 39,639 | ' |
2018 | 26,019 | ' |
Thereafter | 53,133 | ' |
Total intangible assets subject to amortization | 281,213 | ' |
Indefinite-lived trade names | 24,620 | ' |
Other intangible assets, net | $305,833 | $351,173 |
Changes_in_Goodwill_Detail
Changes in Goodwill (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Apr. 03, 2013 |
EVEN-Evolutionary Engineering Aktiengesellschaft [Member] | ||
Goodwill [Line Items] | ' | ' |
Beginning balance | $1,251,247 | $5,936 |
Currency translation and other | -1,908 | ' |
Ending balance | $1,255,275 | $5,936 |
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | $306,866 | $206,979 |
Short-term investments | 440 | 452 |
Contingent consideration | -7,205 | -6,436 |
Deferred compensation | -700 | -1,394 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | ' | -240 |
Quoted Prices in Active Markets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | 306,866 | 206,979 |
Short-term investments | 0 | 0 |
Contingent consideration | 0 | 0 |
Deferred compensation | 0 | 0 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | ' | 0 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | 0 | 0 |
Short-term investments | 440 | 452 |
Contingent consideration | 0 | 0 |
Deferred compensation | 0 | 0 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | ' | -240 |
Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash equivalents | 0 | 0 |
Short-term investments | 0 | 0 |
Contingent consideration | -7,205 | -6,436 |
Deferred compensation | -700 | -1,394 |
Foreign Currency Contracts, Liability, Fair Value Disclosure | ' | $0 |
Fair_Value_Measurement_Additio
Fair Value Measurement - Additional Information (Detail) | Sep. 30, 2013 |
Fair Value Measurements [Line Items] | ' |
Short-term investment time deposits maturity minimum, in months | '3 months |
Short-term investment time deposits maturity maximum, in years | '1 year |
Changes_in_Level_3_Liabilities
Changes in Level 3 Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Detail) (Significant Unobservable Inputs (Level 3), USD $) | 3 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Apr. 03, 2013 |
Contingent Consideration | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | ($3,288) | ' | ' | ($3,288) | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | 3,597 |
Beginning balance | 10,198 | 6,467 | 6,436 | 9,657 | 9,614 | 9,571 | ' |
Interest expense included in earnings | 295 | 134 | 31 | 35 | 43 | 43 | ' |
Ending balance | 7,205 | 10,198 | 6,467 | 6,404 | 9,657 | 9,614 | ' |
Deferred Compensation | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | -712 | ' | ' | -712 | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | ' | ' | ' | ' | ' | 0 |
Beginning balance | 1,407 | 1,400 | 1,394 | 2,091 | 2,082 | 2,073 | ' |
Interest expense included in earnings | 5 | 7 | 6 | 8 | 9 | 9 | ' |
Ending balance | $700 | $1,407 | $1,400 | $1,387 | $2,091 | $2,082 | ' |
Revenue_by_Geographic_Area_Det
Revenue by Geographic Area (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | $212,658 | $196,909 | $625,240 | $577,270 |
UNITED STATES | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | 72,671 | 65,345 | 214,342 | 195,407 |
JAPAN | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | 25,835 | 31,676 | 81,538 | 90,850 |
GERMANY | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | 23,892 | 20,195 | 68,905 | 60,648 |
CANADA | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | 3,508 | 2,510 | 10,341 | 8,778 |
Other European | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | 48,257 | 41,023 | 142,494 | 125,163 |
Other International | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Total revenue | $38,495 | $36,160 | $107,620 | $96,424 |
Property_and_Equipment_by_Geog
Property and Equipment by Geographic Area (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | $54,952 | $52,253 |
UNITED STATES | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 40,697 | 36,716 |
UNITED KINGDOM | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 3,011 | 3,532 |
INDIA | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 2,892 | 3,392 |
GERMANY | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 2,109 | 2,087 |
FRANCE | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 2,182 | 2,378 |
JAPAN | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 1,291 | 1,253 |
CANADA | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 635 | 753 |
Other European | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | 1,055 | 1,173 |
Other International | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Total property and equipment | $1,080 | $969 |
Stock_Repurchase_Program_Addit
Stock Repurchase Program - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, except Share data in Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Repurchase Program [Line Items] | ' | ' |
Treasury Stock, Shares, Acquired | 1 | 1 |
Payments for Repurchase of Common Stock | $73,457 | $61,591 |
Treasury Stock Acquired, Average Cost Per Share | $74.35 | $61.59 |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 2 | ' |
StockBased_Compensation_Expens
Stock-Based Compensation Expense, and its net Impact on Basic and Diluted Earnings per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before taxes | $9,081 | $8,104 | $26,742 | $23,930 |
Related income tax benefits | -2,623 | -2,062 | -8,490 | -6,330 |
Stock-based compensation expense, net of taxes | 6,458 | 6,042 | 18,252 | 17,600 |
Basic earnings per share | ($0.07) | ($0.07) | ($0.20) | ($0.19) |
Diluted earnings per share | ($0.07) | ($0.06) | ($0.19) | ($0.19) |
Software Licenses | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before taxes | 335 | 369 | 1,023 | 1,139 |
Maintenance and Service | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before taxes | 590 | 558 | 1,762 | 1,680 |
Selling, General and Administrative | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before taxes | 4,392 | 3,873 | 12,755 | 11,275 |
Research and Development | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense before taxes | $3,764 | $3,304 | $11,202 | $9,836 |
Contingencies_and_Commitments_
Contingencies and Commitments - Additional Information (Detail) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Other Commitments And Contingencies [Line Items] | ' |
Tax charges and related liabilities if the ruling is unfavorable | $6 |
SaleLeaseback_Arrangement_Deta
Sale-Leaseback Arrangement (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Canonsburg Office, New Company Headquarters [Member] | ||
Sale Leaseback Transaction [Line Items] | ' | ' | ' |
Original Lease Term | ' | ' | '15 years 3 months |
Construction in progress leased facility | $11,222 | $0 | ' |