Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 14, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | ANSS | ||
Entity Registrant Name | ANSYS INC | ||
Entity Central Index Key | 1,013,462 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 85,373,363 | ||
Entity Well-Known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 6,086,000,000 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 822,479 | $ 784,168 |
Short-term investments | 381 | 446 |
Accounts receivable, less allowance for doubtful accounts of $5,700 and $5,200, respectively | 107,192 | 91,579 |
Other receivables and current assets | 239,349 | 200,233 |
Total current assets | 1,169,401 | 1,076,426 |
Property and equipment, net | 54,677 | 61,924 |
Goodwill | 1,337,215 | 1,332,348 |
Other intangible assets, net | 172,619 | 220,553 |
Other long-term assets | 24,287 | 5,757 |
Deferred income taxes | 42,327 | 32,896 |
Total assets | 2,800,526 | 2,729,904 |
Current liabilities: | ||
Accounts payable | 7,395 | 4,865 |
Accrued bonuses and commissions | 49,487 | 46,141 |
Accrued income taxes | 5,263 | 4,695 |
Other accrued expenses and liabilities | 73,676 | 63,801 |
Deferred revenue | 403,279 | 364,644 |
Total current liabilities | 539,100 | 484,146 |
Long-term liabilities: | ||
Deferred income taxes | 2,259 | 2,091 |
Other long-term liabilities | 50,762 | 49,240 |
Total long-term liabilities | 53,021 | 51,331 |
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 shares issued | 932 | 932 |
Additional paid-in capital | 883,010 | 894,469 |
Retained earnings | 2,057,665 | 1,792,029 |
Treasury stock, at cost: 7,548,188 and 5,096,505 shares, respectively | (675,550) | (440,839) |
Accumulated other comprehensive loss | (57,652) | (52,164) |
Total stockholders’ equity | 2,208,405 | 2,194,427 |
Total liabilities and stockholders’ equity | $ 2,800,526 | $ 2,729,904 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue: | |||
Software licenses | $ 568,174 | $ 555,105 | $ 564,502 |
Maintenance and service | 420,291 | 387,648 | 371,519 |
Total revenue | 988,465 | 942,753 | 936,021 |
Cost of sales: | |||
Software licenses | 28,860 | 29,105 | 30,607 |
Amortization | 38,092 | 38,755 | 37,653 |
Maintenance and service | 79,908 | 79,386 | 85,126 |
Total cost of sales | 146,860 | 147,246 | 153,386 |
Gross profit | 841,605 | 795,507 | 782,635 |
Operating expenses: | |||
Selling, general and administrative | 269,515 | 253,603 | 246,376 |
Research and development | 183,093 | 168,831 | 165,421 |
Amortization | 12,755 | 19,394 | 23,388 |
Total operating expenses | 465,363 | 441,828 | 435,185 |
Operating income | 376,242 | 353,679 | 347,450 |
Interest expense | (221) | (325) | (779) |
Interest income | 4,209 | 2,829 | 3,002 |
Other income (expense), net | 85 | 582 | (1,534) |
Income before income tax provision | 380,315 | 356,765 | 348,139 |
Income tax provision | 114,679 | 104,244 | 93,449 |
Net income | $ 265,636 | $ 252,521 | $ 254,690 |
Earnings per share – basic: | |||
Earnings per share | $ 3.05 | $ 2.82 | $ 2.77 |
Weighted average shares | 87,227 | 89,561 | 92,067 |
Earnings per share – diluted: | |||
Earnings per share | $ 2.99 | $ 2.76 | $ 2.70 |
Weighted average shares | 88,969 | 91,502 | 94,194 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 5,700 | $ 5,200 |
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 | 93,236,023 |
Treasury stock, shares | 7,548,188 | 5,096,505 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 265,636 | $ 252,521 | $ 254,690 |
Other comprehensive loss: | |||
Foreign currency translation adjustments | (5,488) | (20,410) | (29,110) |
Comprehensive income | $ 260,148 | $ 232,111 | $ 225,580 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | |||
Net income | $ 265,636 | $ 252,521 | $ 254,690 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 69,587 | 77,670 | 81,924 |
Deferred income tax benefit | (10,921) | (15,196) | (18,859) |
Provision for bad debts | 2,009 | 1,304 | 2,104 |
Stock-based compensation expense | 33,347 | 33,951 | 36,861 |
Excess tax benefits from stock-based compensation | (9,153) | (8,176) | (14,531) |
Other | 1,290 | 1,413 | 868 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (17,388) | 6,044 | (5,554) |
Other receivables and current assets | (39,644) | (17,662) | (877) |
Other long-term assets | (7,167) | 273 | (1,838) |
Accounts payable, accrued expenses and current liabilities | 16,919 | (6,993) | 8,208 |
Accrued income taxes | 9,052 | 5,770 | 12,102 |
Deferred revenue | 41,430 | 40,566 | 35,548 |
Other long-term liabilities | 1,830 | (3,962) | (5,339) |
Net cash provided by operating activities | 356,827 | 367,523 | 385,307 |
Cash flows from investing activities: | |||
Acquisitions, net of cash acquired | (7,891) | (46,117) | (103,016) |
Capital expenditures | (12,443) | (16,145) | (26,023) |
Other investing activities | (11,839) | 230 | (231) |
Net cash used in investing activities | (32,173) | (62,032) | (129,270) |
Cash flows from financing activities: | |||
Purchase of treasury stock | (336,335) | (337,910) | (233,793) |
Restricted stock withholding taxes paid in lieu of issued shares | (5,057) | (4,446) | (5,108) |
Contingent consideration payments | (1,048) | (1,173) | (4,504) |
Proceeds from shares issued for stock-based compensation | 53,811 | 43,623 | 43,323 |
Excess tax benefits from stock-based compensation | 9,153 | 8,176 | 14,531 |
Other financing activities | (1) | (21) | (91) |
Net cash used in financing activities | (279,477) | (291,751) | (185,642) |
Effect of exchange rate fluctuations on cash and cash equivalents | (6,866) | (17,636) | (24,817) |
Net increase (decrease) in cash and cash equivalents | 38,311 | (3,896) | 45,578 |
Cash and cash equivalents, beginning of period | 784,168 | 788,064 | 742,486 |
Cash and cash equivalents, end of period | 822,479 | 784,168 | 788,064 |
Supplemental disclosures of cash flow information: | |||
Income taxes paid | 118,455 | 107,218 | 118,004 |
Interest paid | 822 | 620 | 643 |
Fair value of stock options and restricted stock awards assumed in connection with acquisitions | 0 | 3,528 | 68 |
Construction-in-progress - leased facility | $ 0 | $ 0 | $ (18,136) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss |
Beginning balance at Dec. 31, 2013 | $ 2,136,246 | $ 932 | $ 926,031 | $ 1,284,818 | $ (72,891) | $ (2,644) |
Beginning balance, shares at Dec. 31, 2013 | 93,236 | 918 | ||||
Treasury shares acquired | $ (233,793) | $ (233,793) | ||||
Treasury shares acquired, shares | 2,977 | 2,977 | ||||
Stock-based compensation activity, including tax benefit | $ 90,046 | (20,628) | $ 110,674 | |||
Stock-based compensation activity, including tax benefit, shares | (1,424) | |||||
Other comprehensive loss | (29,110) | (29,110) | ||||
Net income for the year | 254,690 | 254,690 | ||||
Acquisition-related activity | (578) | (578) | ||||
Ending balance at Dec. 31, 2014 | 2,217,501 | $ 932 | 904,825 | 1,539,508 | $ (196,010) | (31,754) |
Ending balance, shares at Dec. 31, 2014 | 93,236 | 2,471 | ||||
Treasury shares acquired | $ (337,910) | $ (337,910) | ||||
Treasury shares acquired, shares | 3,833 | 3,833 | ||||
Stock-based compensation activity, including tax benefit | $ 79,197 | (8,434) | $ 87,631 | |||
Stock-based compensation activity, including tax benefit, shares | (1,139) | |||||
Other comprehensive loss | (20,410) | (20,410) | ||||
Net income for the year | 252,521 | 252,521 | ||||
Acquisition-related activity | 3,528 | (1,922) | $ 5,450 | |||
Acquisition-related activity, shares | (68) | |||||
Ending balance at Dec. 31, 2015 | 2,194,427 | $ 932 | 894,469 | 1,792,029 | $ (440,839) | (52,164) |
Ending balance, shares at Dec. 31, 2015 | 93,236 | 5,097 | ||||
Treasury shares acquired | $ (336,335) | $ (336,335) | ||||
Treasury shares acquired, shares | 3,700 | 3,700 | ||||
Stock-based compensation activity, including tax benefit | $ 90,165 | (11,459) | $ 101,624 | |||
Stock-based compensation activity, including tax benefit, shares | (1,249) | |||||
Other comprehensive loss | (5,488) | (5,488) | ||||
Net income for the year | 265,636 | 265,636 | ||||
Ending balance at Dec. 31, 2016 | $ 2,208,405 | $ 932 | $ 883,010 | $ 2,057,665 | $ (675,550) | $ (57,652) |
Ending balance, shares at Dec. 31, 2016 | 93,236 | 7,548 |
CONSOLIDATED STATEMENTS OF STO8
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (PARENTHETICAL) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||
Stock-based compensation activity, tax benefit | $ 8,065 | $ 6,068 | $ 14,970 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
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 and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors. As defined by the accounting guidance for segment reporting, the Company operates as one segment. 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 | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Accounting Policies | Accounting Policies Accounting Principles The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 the financial statements. Estimates also affect the amounts of revenue and expenses during the reported periods. Significant estimates included in these consolidated financial statements include: • Allowances for doubtful accounts receivable • Income tax accruals • Uncertain tax positions • Tax valuation reserves • Fair value of stock-based compensation • Contract revenue • Useful lives for depreciation and amortization • Valuations of goodwill and other intangible assets • Contingent consideration • Deferred compensation • Loss contingencies Actual results could differ from these estimates. Changes in estimates are recorded in the results of operations in the period that the changes occur. Revenue Recognition Revenue is derived principally from the licensing of computer software products and from related maintenance contracts. Revenue from perpetual licenses is classified as license revenue and is recognized upon delivery of the licensed product and the utility that enables the customer to access authorization keys, provided that acceptance has occurred and a signed contractual obligation has been received, the price is fixed and determinable, and collectibility of the receivable is probable. The Company determines the fair value of PCS sold together with perpetual licenses based on the rate charged for PCS when sold separately. Revenue from PCS contracts is classified as maintenance and service revenue and is recognized ratably over the term of the contract. Revenue for software lease licenses is classified as license revenue and is recognized over the period of the lease contract. Typically, the Company's software leases include PCS which, due to the short term (principally one year or less) of the Company's software lease licenses, cannot be separated from lease revenue for accounting purposes. As a result, both the lease licenses and PCS are recognized ratably over the lease period. Due to the short-term nature of the software lease licenses and the frequency with which the Company provides major product upgrades (typically annually), the Company does not believe that a significant portion of the fee paid under the arrangement is attributable to the PCS component of the arrangement and, as a result, includes the revenue for the entire arrangement within software license revenue in the consolidated statements of income. Many of the Company's semiconductor products are typically licensed via longer term leases of 24 – 36 months. The Company recognizes revenue for these licenses over the term of the lease contract. Because the Company does not have vendor-specific objective evidence of the fair value of these leases, the Company also recognizes revenue from perpetual licenses over the term of the lease contract during the infrequent occurrence of these licenses being sold with semiconductor leases in multiple-element arrangements. Revenue from training, support and other services is recognized as the services are performed. The Company applies the specific performance method to contracts in which the service consists of a single act, such as providing a training class to a customer, and the proportional performance method to other service contracts that are longer in duration and often include multiple acts (for example, both training and consulting). In applying the proportional performance method, the Company typically utilizes output-based estimates for services with contractual billing arrangements that are not based on time and materials, and estimates output based on the total tasks completed as compared to the total tasks required for each work contract. Input-based estimates are utilized for services that involve general consultations with contractual billing arrangements based on time and materials, utilizing direct labor as the input measure. The Company also executes arrangements through independent channel partners in which the channel partners are authorized to market and distribute the Company's software products to end users of the Company's products and services in specified territories. In sales facilitated by channel partners, the channel partner bears the risk of collection from the end-user customer. The Company recognizes revenue from transactions with channel partners when the channel partner submits a written purchase commitment, collectibility from the channel partner is probable, a license agreement signed by the end-user customer is received and delivery has occurred, provided that all other revenue recognition criteria are satisfied. Revenue from channel partner transactions is the amount remitted to the Company by the channel partners. This amount includes a fee for PCS that is compensation for providing technical enhancements and the second level of technical support to the end user, which is based on the rate charged for PCS when sold separately, and is recognized over the period that PCS is to be provided. The Company does not offer right of return, product rotation or price protection to any of its channel partners. Non-income related taxes collected from customers and remitted to governmental authorities are recorded on the consolidated balance sheet as accounts receivable and accrued expenses. The collection and payment of these amounts are reported on a net basis in the consolidated statements of income and do not impact reported revenues or expenses. The Company warrants to its customers that its software will substantially perform as specified in the Company's most current user manuals. The Company has not experienced significant claims related to software warranties beyond the scope of maintenance support, which the Company is already obligated to provide. Consequently, the Company has not established reserves for warranty obligations. Cash and Cash Equivalents Cash and cash equivalents consist primarily of highly liquid investments such as deposits held at major banks and money market funds with original maturities of three months or less. Cash equivalents are carried at cost, which approximates fair value. The Company's cash and cash equivalents balances comprise the following: December 31, 2016 December 31, 2015 (in thousands, except percentages) Amount % of Total Amount % of Total Cash accounts $ 488,504 59.4 $ 427,244 54.5 Money market funds 333,975 40.6 356,924 45.5 Total $ 822,479 $ 784,168 The Company's money market fund balances are held in various funds of a single issuer. Property and Equipment Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets, which range from one to forty years. Repairs and maintenance are charged to expense as incurred. Gains or losses from the sale or retirement of property and equipment are included in operating income. Research and Development Research and development costs, other than certain capitalized software development costs, are expensed as incurred. Software Development Costs Internally developed software costs required to be capitalized as defined by the accounting guidance are not material to the Company's consolidated financial statements. Business Combinations When the Company consummates an acquisition, the assets acquired and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, the Company's estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill as the Company obtains new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Upon the earlier of the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, any subsequent adjustments are recorded in the consolidated statements of income. Goodwill and Other Intangible Assets Goodwill represents the excess of the consideration transferred over the fair value of net identifiable assets acquired. Other intangible assets consist of trade names, customer lists, contract backlog and acquired software and technology. Intangible assets that are not considered to have an indefinite useful life are amortized over their useful lives, which are generally two to fifteen years. Amortization expense for intangible assets was $50.8 million , $58.1 million and $61.0 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company tests goodwill and indefinite-lived intangible assets for impairment at least annually by performing a quantitative assessment of whether the fair value of each reporting unit or asset exceeds its carrying amount. Goodwill is tested at the reporting unit level and indefinite-lived intangible assets are tested at the individual asset level. This requires the Company to assess and make judgments regarding a variety of factors which impact the fair value of the reporting unit or asset being tested, including business plans, anticipated future cash flows, economic projections and other market data. The Company performs its annual impairment tests for goodwill and indefinite-lived intangible assets on January 1 of each year unless there is an indicator that would require a test during the year. The Company periodically reviews the carrying value of other intangible assets and will recognize impairments when events or circumstances indicate that such assets may be impaired. Concentrations of Credit Risk The Company has a concentration of credit risk with respect to revenue and trade receivables due to the use of certain significant channel partners to market and sell the Company's products. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. The following table outlines concentrations of risk with respect to the Company's revenue: Year Ended December 31, (as a % of revenue) 2016 2015 2014 Revenue from channel partners 24 % 24 % 25 % Largest channel partner 5 % 5 % 4 % 2 nd largest channel partner 2 % 2 % 2 % No single customer accounted for more than 5% of the Company's revenue in 2016 , 2015 or 2014 . In addition to the concentration of credit risk with respect to trade receivables, the Company's cash and cash equivalents are also exposed to concentration of credit risk. The Company's cash and cash equivalent accounts are insured through various public and private bank deposit insurance programs, foreign and domestic; however, a significant portion of the Company's funds are not insured. The following table outlines concentrations of risk with respect to the Company's cash and cash equivalents: As of December 31, (in thousands) 2016 2015 Cash and cash equivalents held domestically $ 593,348 $ 539,031 Cash and cash equivalents held by foreign subsidiaries 229,131 245,137 Cash and cash equivalents held in excess of deposit insurance, foreign and domestic 805,374 763,400 Largest balance of cash and cash equivalents held with one financial institution, foreign and domestic 377,602 440,650 Allowance for Doubtful Accounts The Company makes judgments as to its ability to collect outstanding receivables and provides allowances for a portion of receivables when collection becomes doubtful. Provisions are made based upon a specific review of all significant outstanding invoices from both value and delinquency perspectives. For those invoices not specifically reviewed, provisions are estimated at differing rates based upon the age of the receivable and the geographic area of origin. In determining these percentages, the Company considers its historical collection experience and current economic trends in the customer's industry and geographic region. The Company recorded provisions for doubtful accounts of $2.0 million , $1.3 million and $2.1 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period of the enactment date. The Company records net deferred tax assets to the extent it believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In the event the Company determines that it will be able to realize deferred tax assets for which a valuation allowance was used to reduce their carrying value, the adjustment to the valuation allowance will be recorded as a reduction to the provision for income taxes. Tax benefits related to uncertain tax positions taken or expected to be taken on a tax return are recorded when such benefits meet a more-likely-than-not threshold. Otherwise, these tax benefits are recorded when a tax position has been effectively settled, which means that the statute of limitations has expired or the appropriate taxing authority has completed their examination even though the statute of limitations remains open. The Company recognizes interest and penalties related to income taxes within the income tax expense line in the accompanying consolidated statements of income. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets. Foreign Currencies Certain of the Company's sales and intercompany transactions are denominated in foreign currencies. These transactions are translated to the functional currency at the exchange rate on the transaction date. Assets and liabilities denominated in a currency other than the Company's or subsidiary's functional currency are translated at the effective exchange rate on the balance sheet date. Gains and losses resulting from foreign exchange transactions are included in other income (expense), net. The Company recorded net foreign exchange gains of $0.1 million and $0.5 million for the years ended December 31, 2016 and 2015 , respectively, and net foreign exchange losses of $1.6 million for the year ended December 31, 2014 . The financial statements of the Company's foreign subsidiaries are translated from the functional (local) currency to U.S. Dollars. Assets and liabilities are translated at the exchange rates on the balance sheet date. Results of operations are translated at average exchange rates, which approximate rates in effect when the underlying transactions occurred. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is composed entirely of foreign currency translation adjustments. 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: Year Ended December 31, (in thousands, except per share data) 2016 2015 2014 Net income $ 265,636 $ 252,521 $ 254,690 Weighted average shares outstanding – basic 87,227 89,561 92,067 Dilutive effect of stock plans 1,742 1,941 2,127 Weighted average shares outstanding – diluted 88,969 91,502 94,194 Basic earnings per share $ 3.05 $ 2.82 $ 2.77 Diluted earnings per share $ 2.99 $ 2.76 $ 2.70 Anti-dilutive options 260 206 718 Stock-Based Compensation The Company accounts for stock-based compensation in accordance with share-based payment accounting guidance. The guidance requires an entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is recognized over the period during which an employee is required to provide service in exchange for the award, typically the vesting period. Fair Value of Financial Instruments The Company accounts for certain assets and liabilities at fair value in accordance with the accounting guidance applicable to fair value measurements and disclosures. The carrying values of cash, cash equivalents, short-term investments, accounts receivable, accounts payable, accrued expenses, other accrued liabilities and short-term obligations are deemed to be reasonable estimates of their fair values because of their short-term nature. New Accounting Guidance Business combinations: In January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). This update narrows the definition of a business. If substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the acquiree is not a business. The update also requires a business to include an input and a substantive process that significantly contributes to the ability to create outputs. This definition is expected to reduce the number of acquisitions accounted for as business combinations, which will impact the accounting treatment of certain items, including the accounting treatment of contingent consideration and transaction expenses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted and the update will be applied prospectively. The effect of the implementation will depend upon the nature of the Company's future acquisitions, if any. Historically, the Company has entered into acquisitions that would meet the definition of a business under ASU 2017-01. Income taxes: In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). Previous guidance requires the tax effects from intra-entity asset transfers to be deferred until that asset is sold to a third party or recovered through use. ASU 2016-16 eliminates this deferral for all intra-entity asset transfers other than inventory. The standard is effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted and a modified retrospective transition is required upon adoption. The Company plans to adopt ASU 2016-16 beginning in 2018 and expects adoption to have an immaterial effect, if any, on its financial results. Employee share-based payment accounting: In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). This update includes various areas for simplification related to aspects of the accounting for share-based payment transactions. One simplification is that the tax effects of share-based payment settlements will be recorded in the income statement. Prior guidance required tax windfalls at settlement, and tax shortfalls to the extent of previous windfalls, to be recorded in equity. This provision is required to be adopted prospectively. These tax effects will be reported as operating cash flows according to the new guidance as opposed to financing cash flows in the prior guidance. Other simplifications involve the classification of awards as either equity or liabilities and classification on the statements of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. The primary impact of adoption will be the recognition of excess tax benefits or deficiencies in the Company's provision for income taxes rather than paid-in capital, and the related change in classification of such benefits on the consolidated statements of cash flows. Leases: In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02). ASU 2016-02 requires virtually all leases, other than leases that meet the definition of a short-term lease, to be recorded on the balance sheet with a right-of-use asset and corresponding lease liability. As a result, the Company's assets and liabilities will increase upon adoption. Leases will be classified as either operating or finance leases based on certain criteria. This classification will determine the timing and presentation of expenses on the income statement, as well as the presentation of related cash flows. The standard is effective for annual periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted and a modified retrospective transition is required upon adoption. The Company does not expect to early adopt and is currently in the data-gathering phase of implementation. The Company is currently evaluating the effect that implementation of this update will have on its financial results upon adoption. Revenue from contracts with customers: In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09). ASU 2014-09 supersedes most current revenue recognition guidance, including industry-specific guidance. Previous guidance requires an entity to recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the seller's price to the buyer is fixed or determinable, and collectibility is reasonably assured. Under the new guidance, an entity is required to evaluate revenue recognition by identifying a contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract and recognizing revenue when (or as) the entity satisfies a performance obligation. The standard also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , delayed the effective date of ASU 2014-09 to annual periods beginning after December 15, 2017, including interim periods within that reporting period. This standard is effective for the Company on January 1, 2018. Entities have the option of using a full retrospective, cumulative effect or modified approach to adopt ASU 2014-09. The Company expects to utilize the full retrospective method to restate each prior period presented upon adoption. This update will impact the timing and amounts of revenue recognized. The Company's preliminary assessment is that the adoption of this standard will have a material impact on the Company’s consolidated financial statements. While the Company expects that the standard will impact various elements of its business, the Company's initial assessment is that the most significant impact will be on the recognition of revenue related to software lease licenses. These licenses include the right to use the software and PCS over the term of the license. These licenses are currently recognized as revenue ratably over the term of the license. Under the new standard and the existing interpretations, the Company expects to recognize a meaningful portion of the revenue related to these licenses up-front at the time the license is delivered. However, the Company's preliminary assessment could change as additional interpretations relating to the new standard are provided and as issues identified by software industry groups are addressed. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions During the twelve months ended December 31, 2016 and 2015 , the Company completed various acquisitions to accelerate the development of new and innovative products to the marketplace while lowering design and engineering costs for customers. The acquisitions were not individually significant. The combined purchase prices of the acquisitions were approximately $10.3 million and $49.7 million for the years ended December 31, 2016 and 2015 , respectively. The operating results of each acquisition have been included in the Company's consolidated financial statements since each respective date of acquisition. The effects of the business combinations were not material to the Company's consolidated results of operations individually or in the aggregate. In valuing deferred revenue on the balance sheets of the Company's 2016 and 2015 acquisitions as of their respective acquisition dates, the Company applied the fair value provisions applicable to the accounting for business combinations, resulting in a reduction of deferred revenue as compared to the historical carrying amounts. During 2015 , acquired deferred revenues with a combined historical carrying value of $0.9 million were ascribed no fair value on the opening balance sheets. As a result, the Company's post-acquisition revenue will be less than the sum of what would have otherwise been reported by ANSYS and each acquiree absent the acquisitions. The impacts on reported revenue for the years ended December 31, 2016 and 2015 were $0.1 million and $0.8 million , respectively. SpaceClaim Corporation On April 30, 2014, the Company completed the acquisition of SpaceClaim, a leading provider of 3-D modeling technology. Under the terms of the agreement, ANSYS acquired SpaceClaim for a purchase price of $85.0 million , which was paid almost entirely in cash. SpaceClaim's software provides customers with a powerful and intuitive 3-D direct modeling solution to author new concepts and then leverage the power of simulation to rapidly iterate on these designs to drive innovation. The broad appeal of the SpaceClaim technology can help the Company deliver simulation tools to any engineer in any industry. The complementary combination accelerates the development of new and innovative products to the marketplace while lowering design and engineering costs for customers. The operating results of SpaceClaim have been included in the Company's consolidated financial statements from April 30, 2014, the date of acquisition. The assets and liabilities of SpaceClaim 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, as adjusted within the one-year measurement period: Fair Value of Consideration Transferred: (in thousands) Cash $ 84,892 ANSYS replacement stock options 68 Total consideration transferred at fair value $ 84,960 Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: (in thousands) Cash $ 723 Accounts receivable and other tangible assets 1,857 Developed technology (10-year life) 15,800 Customer relationships (6-year life) 9,400 Trade name (6-year life) 1,300 Contract backlog (6-year life) 550 Non-compete agreement (2-year life) 300 Net deferred tax assets 9,288 Accounts payable and other liabilities (2,011 ) Deferred revenue (700 ) Total identifiable net assets $ 36,507 Goodwill $ 48,453 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 SpaceClaim. During the one-year measurement period since the SpaceClaim acquisition date, the Company adjusted the fair values of the assets acquired and liabilities assumed, with the offset recorded as a $4.8 million decrease to goodwill. These adjustments were made as the Company obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. In valuing deferred revenue on the SpaceClaim balance sheet as of the acquisition date, the Company applied the fair value provisions applicable to the accounting for business combinations. Acquired deferred revenue with a historical carrying value of $3.3 million was ascribed a fair value of $0.7 million on the opening balance sheet. As a result, the Company's post-acquisition revenue was less than the sum of what would have otherwise been reported by ANSYS and SpaceClaim absent the acquisition. The impacts on reported revenue for the twelve months ended December 31, 2015 and 2014 were $0.6 million and $2.0 million , respectively. Reaction Design On January 3, 2014, the Company completed the acquisition of Reaction Design, a leading developer of chemistry simulation software. Under the terms of the agreement, ANSYS acquired Reaction Design for a purchase price of $19.1 million in cash. Reaction Design's solutions enable transportation manufacturers and energy companies to rapidly achieve their clean technology goals by automating the analysis of chemical processes via computer simulation and modeling solutions. The operating results of Reaction Design have been included in the Company's consolidated financial statements since the date of acquisition, January 3, 2014. The total consideration transferred was allocated to the assets and liabilities of Reaction Design based on management's estimates of the fair values of the assets acquired and the liabilities assumed. The allocation included $7.0 million to identifiable intangible assets, including core technology, customer lists and trade names, to be amortized over periods between two and eleven years, and $9.2 million to goodwill, which is not tax-deductible. These amounts include measurement-period adjustments. During the one-year measurement period since the Reaction Design acquisition date, the Company adjusted the fair values of the assets acquired and liabilities assumed, with the offset recorded as an increase to goodwill of $1.9 million and a reduction in noncontrolling interest of $0.6 million . These adjustments were made as the Company obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. In valuing deferred revenue on the Reaction Design balance sheet as of the acquisition date, the Company applied the fair value provisions applicable to the accounting for business combinations. Acquired deferred revenue with a historical carrying value of $2.3 million was ascribed no fair value on the opening balance sheet. As a result, the Company's post-acquisition revenue was less than the sum of what would have otherwise been reported by ANSYS and Reaction Design absent the acquisition. The impacts on reported revenue for the twelve months ended December 31, 2015 and 2014 were $0.3 million and $2.0 million , respectively. |
Other Receivables and Current A
Other Receivables and Current Assets | 12 Months Ended |
Dec. 31, 2016 | |
Prepaid Expense and Other Assets, Current [Abstract] | |
Other Receivables and Current Assets | Other Receivables and Current Assets The Company's other receivables and current assets comprise the following balances: December 31, (in thousands) 2016 2015 Receivables related to unrecognized revenue $ 199,119 $ 170,186 Income taxes receivable, including overpayments and refunds 15,718 7,877 Prepaid expenses and other current assets 24,512 22,170 Total other receivables and current assets $ 239,349 $ 200,233 Receivables for unrecognized revenue represent the current portion of billings made for annual lease licenses and software maintenance that have not yet been recognized as revenue. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and Equipment Property and equipment consists of the following: December 31, (in thousands) Estimated Useful Lives 2016 2015 Equipment 1-10 years $ 78,614 $ 78,932 Computer software 1-5 years 30,867 33,710 Buildings 10-40 years 25,472 25,041 Leasehold improvements 1-15 years 11,571 12,621 Furniture 1-13 years 8,618 8,601 Land 1,759 1,759 Property and equipment, gross 156,901 160,664 Less: Accumulated depreciation (102,224 ) (98,740 ) Property and equipment, net $ 54,677 $ 61,924 Depreciation expense related to property and equipment was $18.7 million , $19.5 million and $20.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill represents the excess of the fair value of the consideration transferred over the value of net tangible and identifiable intangible assets of acquired businesses. Identifiable intangible assets acquired in business combinations are recorded based on their fair values on the date of acquisition. During the first quarter of 2016 , the Company completed the annual impairment test for goodwill and the indefinite-lived intangible asset and determined that these assets had not been impaired as of the test date, January 1, 2016 . No other events or circumstances changed during the twelve months ended December 31, 2016 that would indicate that the fair values of the Company's reporting unit and indefinite lived intangible asset are below their carrying values. The Company's intangible assets and estimated useful lives are classified as follows: December 31, 2016 December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Developed software and core technologies (3 – 11 years) $ 338,594 $ (275,130 ) $ 336,262 $ (251,201 ) Customer lists and contract backlog (5 – 15 years) 159,549 (88,414 ) 159,885 (76,160 ) Trade names (2 – 10 years) 127,952 (90,289 ) 127,903 (76,493 ) Total $ 626,095 $ (453,833 ) $ 624,050 $ (403,854 ) Indefinite-lived intangible assets: Trade names $ 357 $ 357 Amortization expense for the intangible assets reflected above was $50.8 million , $58.1 million and $61.0 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. As of December 31, 2016 , estimated future amortization expense for the intangible assets reflected above is as follows: (in thousands) 2017 $ 47,937 2018 34,643 2019 21,332 2020 20,325 2021 16,199 Thereafter 31,826 Total intangible assets subject to amortization, net 172,262 Indefinite-lived trade name 357 Other intangible assets, net $ 172,619 The changes in goodwill during the years ended December 31, 2016 and 2015 are as follows: (in thousands) 2016 2015 Beginning balance - January 1 $ 1,332,348 $ 1,312,182 Acquisitions 6,184 28,561 Adjustments (1) (1 ) (4,573 ) Currency translation (1,316 ) (3,822 ) Ending balance - December 31 $ 1,337,215 $ 1,332,348 (1) In accordance with the accounting for business combinations, the Company recorded adjustments to goodwill for the effect of changes in the provisional fair values of the assets acquired and liabilities assumed during the measurement period (up to one year from the acquisition date) as the Company obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
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) December 31, 2016 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Cash equivalents $ 333,975 $ 333,975 $ — $ — Short-term investments $ 381 $ — $ 381 $ — Deferred compensation plan investments $ 459 $ 459 $ — $ — Fair Value Measurements at Reporting Date Using: (in thousands) December 31, 2015 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Cash equivalents $ 356,924 $ 356,924 $ — $ — Short-term investments $ 446 $ — $ 446 $ — Liabilities Contingent consideration $ (1,376 ) $ — $ — $ (1,376 ) The cash equivalents in the preceding tables represent money market 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 original maturities ranging from three months to one year. The deferred compensation plan investments in the preceding table represent trading securities held in a rabbi trust for the benefit of the non-affiliate Independent Directors. These securities consist of mutual funds traded in an active market with quoted prices. As a result, the plan assets were classified as Level 1 in the fair value hierarchy. The plan assets are recorded within other long-term assets on the Company's consolidated balance sheet. The contingent consideration in the table above represents the final payment related to the 2013 acquisition of EVEN - Evolutionary Engineering AG ("EVEN"). The net present value calculation for the contingent consideration, which was paid during the quarter ended March 31, 2016, included significant unobservable inputs as of December 31, 2015 in the assumption that the remaining payment would be made, and, therefore, the liability was classified as Level 3 in the fair value hierarchy. The liability was recorded within other accrued expenses and liabilities on the Company's consolidated balance sheet. The following table presents the changes during the years ended December 31, 2016 and 2015 in the Company's Level 3 liability for contingent consideration that is measured at fair value on a recurring basis: Fair Value Measurement Using Significant Unobservable Inputs (in thousands) Contingent Consideration Balance as of January 1, 2015 $ 2,621 Contingent payments (1,456 ) Interest expense and foreign exchange activity included in earnings 211 Balance as of December 31, 2015 $ 1,376 Contingent payments (1,448 ) Interest expense and foreign exchange activity included in earnings 72 Balance as of December 31, 2016 $ — 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. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income before income taxes includes the following components: Year Ended December 31, (in thousands) 2016 2015 2014 Domestic $ 340,251 $ 325,097 $ 291,042 Foreign 40,064 31,668 57,097 Total $ 380,315 $ 356,765 $ 348,139 The provision for income taxes is composed of the following: Year Ended December 31, (in thousands) 2016 2015 2014 Current: Federal $ 99,783 $ 93,853 $ 80,620 State 8,338 7,733 7,192 Foreign 17,479 17,854 24,495 Deferred: Federal (13,368 ) (14,472 ) (18,536 ) State (1,036 ) (1,987 ) (1,915 ) Foreign 3,483 1,263 1,593 Total $ 114,679 $ 104,244 $ 93,449 The reconciliation of the U.S. federal statutory tax rate to the consolidated effective tax rate is as follows: Year Ended December 31, 2016 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 1.6 1.1 1.2 Uncertain tax positions (0.2 ) (0.4 ) (0.9 ) Research and development credits (1.0 ) (1.1 ) (1.1 ) Benefit from restructuring activities (2.2 ) (2.7 ) (4.1 ) Domestic production activity benefit (3.7 ) (3.1 ) (3.5 ) Other 0.7 0.4 0.2 30.2 % 29.2 % 26.8 % In general, it is the practice and intention of the Company to repatriate previously taxed earnings and to reinvest all other earnings of its non-U.S. subsidiaries. The Company has not made a provision for U.S. taxes on approximately $199 million , representing the excess of the amount for financial reporting over the tax bases of investments in foreign subsidiaries that are essentially permanent in duration. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. The residual U.S. tax cost associated with this difference is estimated to be $35 million . The components of deferred tax assets and liabilities are as follows: December 31, (in thousands) 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 32,969 $ 40,939 Stock-based compensation 23,652 23,258 Employee benefits 17,187 17,044 Uncertain tax positions 11,562 10,233 Deferred revenue 6,382 8,603 Research and development credits 3,889 3,562 Allowance for doubtful accounts 2,078 1,888 Other 3,163 3,240 Valuation allowance (1,625 ) (603 ) 99,257 108,164 Deferred tax liabilities: Other intangible assets (56,195 ) (73,933 ) Property and equipment (2,994 ) (3,426 ) (59,189 ) (77,359 ) Net deferred tax assets $ 40,068 $ 30,805 The Company excluded from the above table a $13.2 million deferred tax asset associated with foreign net operating loss carryforwards and a corresponding $13.2 million valuation allowance in a jurisdiction where the Company determined utilization is remote. The net increase in the gross valuation allowance was $1.0 million . This increase was primarily due to a change in circumstances related to the ability to utilize a net operating loss in a foreign jurisdiction. As of each reporting date, management considers new evidence, both positive and negative, that could affect the future realization of deferred tax assets. If management determines it is more likely than not that an asset, or a portion of an asset, will not be realized, a valuation allowance is recorded. As of December 31, 2016 , the Company had federal net operating loss carryforwards of $28.7 million . These losses expire between 2020 - 2034 , and are subject to limitations on their utilization. Deferred tax assets of $1.2 million have been recorded for state operating loss carryforwards. These losses expire between 2017 - 2035 , and are subject to limitations on their utilization. The Company had total foreign net operating loss carryforwards of $76.9 million , of which $28.2 million are not currently subject to expiration dates. The remainder, $48.7 million , expires between 2019 - 2025 . The Company had tax credit carryforwards of $5.2 million , of which $3.0 million are subject to limitations on their utilization. Approximately $0.9 million of these tax credit carryforwards are not currently subject to expiration dates. The remainder, $4.3 million , expires in various years between 2017 - 2036 . The following is a reconciliation of the total amounts of unrecognized tax benefits: Year Ended December 31, (in thousands) 2016 2015 2014 Unrecognized tax benefit as of January 1 $ 16,067 $ 16,342 $ 19,590 Gross increases—tax positions in prior period 983 64 488 Gross decreases—tax positions in prior period (2,502 ) (850 ) (3,715 ) Gross increases—tax positions in current period 2,725 4,064 2,513 Reductions due to a lapse of the applicable statute of limitations (927 ) (2,808 ) (1,924 ) Changes due to currency fluctuation (348 ) (653 ) (610 ) Settlements (789 ) (92 ) — Unrecognized tax benefit as of December 31 $ 15,209 $ 16,067 $ 16,342 The Company believes that it is reasonably possible that approximately $0.1 million of uncertain tax positions may be resolved within the next twelve months as a result of settlement with a taxing authority or a lapse of the statute of limitations. Of the total unrecognized tax benefit as of December 31, 2016 , $9.2 million would affect the effective tax rate, if recognized. The Company recognizes interest and penalties related to income taxes as income tax expense. During the year ended December 31, 2016 , the Company recorded $0.8 million of penalty expense and $0.1 million of interest benefit. As of December 31, 2016 , the Company accrued a liability for penalties of $2.7 million and interest of $2.8 million . As of December 31, 2015 , the Company accrued a liability for penalties of $1.9 million and interest of $2.7 million . The Company is subject to taxation in the U.S. and various states and foreign jurisdictions. In the U.S., the Company's only major tax jurisdiction, the 2013 - 2016 tax years are open to examination by the Internal Revenue Service. |
Pension And Profit-Sharing Plan
Pension And Profit-Sharing Plans | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension And Profit-Sharing Plans | Pension and Profit-Sharing Plans The Company has a 401(k)/profit-sharing plan for all qualifying salaried domestic employees that permits participants to make contributions by salary reduction pursuant to Section 401(k) of the Internal Revenue Code. The Company makes matching contributions on behalf of each eligible participant in an amount equal to 100% of the first 3% and an additional 25% of the next 5% , for a maximum total of 4.25% of the employee's compensation. The Company may make a discretionary contribution based on the participant's eligible compensation, provided the employee is employed at the end of the year and has worked at least 1,000 hours . The Company also maintains various defined contribution and defined benefit pension arrangements for its international employees. The Company funds the foreign defined benefit and contribution plans based on the minimum required deposits according to the local statutory requirements. The unfunded portion of the defined benefit obligation for each plan is accrued in other long-term liabilities. Expenses related to the Company's retirement programs were $9.1 million in 2016 , $8.4 million in 2015 and $8.9 million in 2014 . |
Non-Compete and Employment Agre
Non-Compete and Employment Agreements | 12 Months Ended |
Dec. 31, 2016 | |
Non-Compete and Employment Agreements [Abstract] | |
Non-Compete and Employment Agreements | Non-Compete and Employment Agreements Employees of the Company have signed agreements under which they have agreed not to disclose trade secrets or confidential information that, where legally permitted, restrict engagement in or connection with any business that is competitive with the Company anywhere in the world while employed by the Company (and, in some cases, for specified periods thereafter), and that any products or technology created by them during their term of employment are the property of the Company. In addition, the Company requires all channel partners to enter into agreements not to disclose the Company's trade secrets and other proprietary information. The Company has an employment agreement with the Chief Executive Officer. This agreement provides for, among other things, in the case of termination for reasons other than death, disability or cause and subject to non-compete and non-solicit clauses, minimum severance payments equal to two times his base salary and target bonus paid out over two years from the date of termination and two years of health care coverage from the date of termination. The Chief Executive Officer is subject to a two-year restriction on competition and solicitation following termination of employment under the circumstances described in the contract. The Company has a transition agreement with its Chairman of the Board. This agreement provides for, among other things, that the Chairman of the Board shall be employed by the Company until April 30, 2019 unless terminated earlier in accordance with the terms of the agreement. The Chairman of the Board shall receive salary paid in bi-monthly installments as specified in the transition agreement and restricted stock units vesting in part in February 2018 and the remainder at the end of the transition agreement, subject to the Chairman of the Board's continued employment, in accordance with the terms of the transition agreement. The Chairman of the Board will not be entitled to bonus payments during his employment pursuant to the transition agreement, but he will be eligible to participate in all of the Company’s benefit plans subject to the terms of such plans. The transition agreement provides for an additional payment (less salary received and equity calculations as set forth in the transition agreement) in the event that the Chairman of the Board's employment is terminated without cause prior to April 30, 2019. The Company also has employment agreements with several other employees, primarily in foreign jurisdictions. The terms of these employment agreements generally include annual compensation, severance payment provisions and non-compete clauses. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company has a stock option and grant plan—the Fifth Amended and Restated 1996 Stock Option and Grant Plan ("Stock Plan"). The Stock Plan, as amended, authorizes the grant of up to 39.8 million shares of the Company's common stock in the form of: (i) incentive stock options ("ISOs"), (ii) nonqualified stock options, (iii) common stock with or without vesting or other restrictions, (iv) common stock upon the attainment of specified performance goals, (v) restricted stock awards, (vi) the right to receive cash dividends with the holders of the common stock as if the recipient held a specified number of shares of the common stock, (vii) deferred stock awards, (viii) restricted stock unit awards, (ix) stock appreciation rights and (x) cash-based awards. The Stock Plan provides that: (i) the exercise price of an ISO must be no less than the fair value of the stock at the date of grant and (ii) the exercise price of an ISO held by an optionee who possesses more than 10% of the total combined voting power of all classes of stock must be no less than 110% of the fair market value of the stock at the time of grant. The Compensation Committee of the Board of Directors has the authority to set expiration dates no later than ten years from the date of grant (or five years for an optionee who meets the 10% criterion), payment terms, and other provisions for each grant. The majority of options granted have a four -year vesting period. Shares associated with unexercised options or reacquired shares of common stock (except those shares withheld as a result of tax withholding or net issuance) become available for option grants and common stock issuances under the Stock Plan. The Compensation Committee of the Board of Directors may, at its sole discretion, accelerate or extend the date or dates on which all or any particular award or awards granted under the Stock Plan may vest or be exercised. In the event of a "sale event," defined in the Stock Plan as a "Transaction," all outstanding awards will be assumed or continued by the successor entity, with appropriate adjustment in the awards to reflect the transaction. In such event, except as the Compensation Committee may otherwise specify with respect to particular awards in the award agreements, if the service relationship of the holder of an award is terminated without cause within 18 months after the sale event, then all awards held by such holder will become fully vested and exercisable at that time. If there is a sale event in which the successor entity refuses to assume or continue outstanding awards, then subject to the consummation of the sale event, all awards with time-based vesting conditions will become fully vested and exercisable at the effective time of the sale event and all awards with performance-based vesting conditions may become vested and exercisable in accordance with the award agreements at the discretion of the Compensation Committee. If awards are not assumed or continued after a sale event, then all such awards will terminate at the time of the sale event. In the event of the termination of stock options or stock appreciation rights in connection with a sale event, the Compensation Committee may either make or provide for a cash payment to the holders of such awards equal to the difference between the per share transaction consideration and the exercise price of such awards or permit each holder to have at least a 15 -day period to exercise such awards prior to their termination. The Company currently issues shares related to exercised stock options or vested awards from its existing pool of treasury shares and has no specific policy to repurchase treasury shares as stock options are exercised or as awards vest. If the treasury pool is depleted, the Company will issue new shares. Total stock-based compensation expense recognized for the years ended December 31, 2016 , 2015 and 2014 is as follows: Year Ended December 31, (in thousands, except per share amounts) 2016 2015 2014 Cost of sales: Software licenses $ 701 $ 745 $ 1,776 Maintenance and service 1,578 1,868 2,035 Operating expenses: Selling, general and administrative 15,990 17,153 17,073 Research and development 15,078 14,185 15,977 Stock-based compensation expense before taxes 33,347 33,951 36,861 Related income tax benefits (10,538 ) (11,656 ) (10,927 ) Stock-based compensation expense, net of taxes $ 22,809 $ 22,295 $ 25,934 Net impact on earnings per share: Basic earnings per share $ (0.26 ) $ (0.25 ) $ (0.28 ) Diluted earnings per share $ (0.26 ) $ (0.24 ) $ (0.28 ) Information regarding stock option transactions is summarized below: Year Ended December 31, 2016 2015 2014 (options in thousands) Options Weighted- Average Exercise Price Options Weighted- Average Exercise Price Options Weighted- Average Exercise Price Outstanding, beginning of year 3,986 $ 51.07 4,932 $ 48.76 6,166 $ 44.77 Granted 260 $ 94.38 57 $ 88.10 150 $ 81.09 Issued pursuant to acquisitions — $ — 8 $ 12.26 21 $ 23.26 Exercised (1,082 ) $ 45.57 (975 ) $ 40.52 (1,266 ) $ 31.36 Forfeited (28 ) $ 72.07 (36 ) $ 70.15 (139 ) $ 61.11 Outstanding, end of year 3,136 $ 56.37 3,986 $ 51.07 4,932 $ 48.76 Vested and Exercisable, end of year 2,762 $ 51.80 3,539 $ 48.29 3,958 $ 44.22 2016 2015 2014 Weighted-Average Remaining Contractual Term (in years) Outstanding 4.62 4.85 5.53 Vested and Exercisable 4.04 4.53 5.00 Aggregate Intrinsic Value (in thousands) Outstanding $ 113,822 $ 165,131 $ 163,932 Vested and Exercisable $ 112,379 $ 156,487 $ 149,536 Historical and future expected forfeitures have not been significant and, as a result, the outstanding option amounts reflected in the tables above approximate the options expected to vest. The fair value of each option grant is estimated on the date of grant, or date of acquisition for options issued in a business combination, using the Black-Scholes option pricing model, which was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. The Company's options have characteristics significantly different from those of traded options, and changes in input assumptions can materially affect the fair value estimates. The interest rates used were determined by using the five-year Treasury Note yield at the date of grant or date of acquisition for options issued in a business combination. The volatility was determined based on the historic volatility of the Company's stock during the preceding six years for 2016 , 2015 and 2014 . The table below presents the weighted average input assumptions used and resulting fair values for options granted or issued in business combinations during each respective year: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.19% to 1.93% 1.18% to 1.65% 1.49% to 1.76% Expected dividend yield —% —% —% Expected volatility 24% 25% 35% Expected term 5.7 years 5.6 years 5.7 years Weighted-average fair value per share $23.96 $30.83 $32.26 As stock-based compensation expense recognized in the consolidated statements of income is based on awards ultimately expected to vest, it must be reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The effect of pre-vesting forfeitures on the Company's recorded expense has historically been negligible due to the relatively low turnover of stock option holders. The Company's determination of fair value of share-based payment awards on the date of grant using an option pricing model is affected by the Company's stock price as well as assumptions regarding a number of variables. The total estimated grant-date fair values of stock options that vested during the years ended December 31, 2016 , 2015 and 2014 were $7.4 million , $12.3 million and $19.5 million , respectively. As of December 31, 2016 , total unrecognized estimated compensation cost related to unvested stock options granted prior to that date was $8.2 million , which is expected to be recognized over a weighted-average period of 2.1 years . The total intrinsic values of stock options exercised during the years ended December 31, 2016 , 2015 and 2014 were $49.8 million , $47.1 million and $60.6 million , respectively. As of December 31, 2016 , 0.4 million unvested options with an aggregate intrinsic value of $1.4 million are expected to vest and have a weighted-average exercise price of $90.12 and a weighted-average remaining contractual term of 8.9 years . The Company recorded cash received from the exercise of stock options of $49.3 million and tax benefits related to stock activity of $18.6 million for the year ended December 31, 2016 . Information regarding stock options outstanding as of December 31, 2016 is summarized below: (options in thousands) Options Outstanding Options Exercisable Range of Exercise Prices Options Weighted- Weighted- Options Weighted- $5.91 - $40.89 874 2.35 $ 34.25 868 $ 34.39 $41.33 - $58.67 1,175 4.25 $ 54.02 1,175 $ 54.02 $61.68 - $69.70 641 5.71 $ 67.38 641 $ 67.38 $73.45 - $95.09 446 8.47 $ 90.11 78 $ 83.78 Under the terms of the ANSYS, Inc. Long-Term Incentive Plan, the Company issues various restricted stock awards, which may have a market condition, an operating performance condition or a service condition, or any combination of the three. The Company granted 35,000 , 34,450 and 47,000 performance-based restricted stock units with a market condition in 2016 , 2015 and 2014 , respectively. The percentage of the award that vests is based on the Company's performance as measured by total shareholder return relative to the appreciation of a specified stock index over the measurement period, subject to each participant's continued employment with the Company through the conclusion of the measurement period. As of December 31, 2016 , 5,973 units of the total 2014 awards granted were earned and will be issued in 2017. The measurement periods for the restricted stock units granted pursuant to the Long-Term Incentive Plan are one -, two - and three -year periods beginning January 1 of the year of the grant. Each restricted stock unit relates to one share of the Company's common stock. The weighted-average fair value of each restricted stock unit granted in 2016 , 2015 and 2014 was estimated on the grant date to be $78.71 , $81.61 and $65.94 , respectively. The fair value of the restricted stock units was estimated using a Monte Carlo simulation model. The determination of the fair value of the awards was affected by the grant date and a number of variables, each of which has been identified in the chart below. Share-based compensation expense based on the fair value of the award is being recorded from the grant date through the conclusion of the three -year measurement period. Total compensation expense associated with the market condition awards recorded for the years ended December 31, 2016 , 2015 and 2014 was $2.2 million , $3.1 million and $2.5 million , respectively. Year Ended December 31, Assumptions used in Monte Carlo lattice pricing model 2016 2015 2014 Risk-free interest rate 1.0% 1.1% 0.7% Expected dividend yield —% —% —% Expected volatility—ANSYS stock price 21% 23% 25% Expected volatility—NASDAQ Composite Index 16% 14% 15% Expected term 2.8 years 2.8 years 2.8 years Correlation factor 0.65 0.60 0.70 The Company issued 35,000 , 115,485 and 39,900 performance-based restricted stock awards during 2016 , 2015 and 2014 , respectively. Of the cumulative performance-based restricted stock awards issued, defined operating metrics were assigned to 63,462 , 51,795 and 20,667 awards with grant-date fair values of $84.61 , $86.38 and $81.52 during 2016 , 2015 and 2014 , respectively. The grant-date fair value of the awards is being recorded from the grant date through the conclusion of the measurement period associated with each operating metric based on management's estimates concerning the probability of vesting. As of December 31, 2016 , 7,625 units of the total 2014 awards granted were earned and will be issued in 2017. Total compensation expense associated with the awards recorded for the years ended December 31, 2016 , 2015 and 2014 was $0.4 million, $0.4 million and $0.1 million , respectively. In addition, in 2016 , 2015 and 2014 , the Company granted restricted stock units of 488,622 , 344,500 and 364,150 , respectively, that will vest over a three - or four -year period with weighted-average grant-date fair values of $88.51 , $86.34 and $82.13 , respectively. During 2016 and 2015 , 162,019 and 85,713 shares vested and were released, respectively. As of December 31, 2016 , 2015 and 2014 , 838,327 , 571,462 and 344,750 units were outstanding, respectively. Total compensation expense is being recorded over the service period and was $19.1 million, $12.5 million and $5.8 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. In conjunction with a 2015 acquisition, ANSYS issued 68,451 shares of replacement restricted stock with a weighted-average grant-date fair value of $90.48 . Of the $6.2 million grant-date fair value, $3.5 million , related to partially vested awards, was recorded as non-cash purchase price consideration. The remaining fair value will be recognized as stock compensation expense through the conclusion of the service period. During the years ended December 31, 2016 and 2015 , the Company recorded $1.2 million and $0.6 million , respectively, of stock compensation expense related to these awards. In conjunction with a 2011 acquisition, the Company granted performance-based restricted stock awards. Vesting was determined based on the achievements of certain revenue and operating income targets of the entity post-acquisition. Total compensation expense associated with the awards recorded for the year ended December 31, 2014 was $4.7 million . The Company has granted deferred stock awards to non-affiliate Independent Directors, which are rights to receive shares of common stock upon termination of service as a Director. In 2015 and prior, the deferred stock awards were granted quarterly in arrears and vested immediately upon grant. Associated with these awards, the Company established a non-qualified 409(a) deferred compensation plan with assets held under a rabbi trust to provide Directors an opportunity to diversify their vested awards. During open trading windows and at their elective option, the Directors may convert their Company shares into a variety of non-Company-stock investment options in order to diversify their holdings. As of December 31, 2016 , 5,000 shares have been diversified and 184,099 undiversified deferred stock awards have vested with the underlying shares remaining unissued until the service termination of the respective Director owners. In May 2016, the Company granted 38,400 deferred stock awards which will vest in full on the one -year anniversary of the grant. Total compensation expense associated with the awards recorded for the years ended December 31, 2016 , 2015 and 2014 was $1.9 million, $4.0 million and $3.5 million, respectively. |
Stock Repurchase Program
Stock Repurchase Program | 12 Months Ended |
Dec. 31, 2016 | |
Class of Stock Disclosures [Abstract] | |
Stock Repurchase Program | Stock Repurchase Program Under the Company's stock repurchase program, the Company repurchased shares as follows: Year Ended December 31, (in thousands, except per share data) 2016 2015 2014 Number of shares repurchased 3,700 3,833 2,977 Average price paid per share $ 90.90 $ 88.16 $ 78.54 Total cost $ 336,335 $ 337,910 $ 233,793 In February 2017, the Company's Board of Directors increased the number of shares authorized for repurchase to a total of 5.0 million shares under the stock repurchase program. As of December 31, 2016 , 1.3 million shares remained available for repurchase under the program. |
Employee Stock Purchase Plan
Employee Stock Purchase Plan | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee Stock Purchase Plan | Employee Stock Purchase Plan The Company's 1996 Employee Stock Purchase Plan (the “Purchase Plan”) was adopted by the Board of Directors on April 19, 1996 and was subsequently approved by the Company's stockholders. The stockholders approved an amendment to the Purchase Plan in May 2016 to increase the number of shares available for offerings to 1.8 million shares. The Purchase Plan is administered by the Compensation Committee. Offerings under the Purchase Plan commence on each February 1 and August 1, and have a duration of six months. An employee who owns or is deemed to own shares of stock representing in excess of 5% of the combined voting power of all classes of stock of the Company may not participate in the Purchase Plan. During each offering, an eligible employee may purchase shares under the Purchase Plan by authorizing payroll deductions of up to 10% of his or her cash compensation during the offering period. The maximum number of shares that may be purchased by any participating employee during any offering period is limited to 3,840 shares (as adjusted by the Compensation Committee from time to time). Unless the employee has previously withdrawn from the offering, his or her accumulated payroll deductions will be used to purchase common stock on the last business day of the period at a price equal to 90% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. Under applicable tax rules, an employee may not accrue the right to purchase more than $25,000 of common stock, based on the grant-date fair value, in any calendar year. As of December 31, 2016 , 1.4 million shares of common stock had been issued under the Purchase Plan. The total compensation expense recorded under the Purchase Plan during the years ended December 31, 2016 , 2015 and 2014 was $1.2 million , $1.0 million and $0.9 million , respectively. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Leases | Leases Office Space The Company's executive offices and those related to certain domestic product development, marketing, production and administration are located in a 186,000 square foot office facility in Canonsburg, Pennsylvania. The lease was effective as of September 14, 2012, but because the leased premises were under construction, the Company was not obligated to pay rent until three months following the date that the leased premises were delivered to ANSYS, which occurred on October 1, 2014. The term of the lease is 183 months , beginning on October 1, 2014. Absent the exercise of options in the lease for additional rentable space or early lease termination, the Company's base rent (inclusive of property taxes and certain operating expenses) will be $4.3 million per annum for the first five years of the lease term, $4.5 million per annum for years six through ten and $4.7 million per annum for years eleven through fifteen. The Company incurred $4.4 million , $4.4 million and $0.8 million in lease expense related to this facility during the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company's corporate headquarters was previously located in a separate office facility, also in Canonsburg, Pennsylvania. The Company occupied this space until November 2014, and the lease term expired on December 31, 2014. Lease expense related to this facility was $1.4 million during the year ended December 31, 2014 . The Company has entered into various other noncancellable operating leases for office space. Office space lease expense totaled $16.9 million , $16.5 million and $15.8 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Future minimum lease payments, including termination fees, under noncancellable operating leases for office space in effect at December 31, 2016 are as follows: (in thousands) 2017 $ 12,516 2018 9,901 2019 9,178 2020 6,961 2021 6,132 Thereafter 21,204 Total $ 65,892 |
Royalty Agreements
Royalty Agreements | 12 Months Ended |
Dec. 31, 2016 | |
Royalty Agreements [Abstract] | |
Royalty Agreements | Royalty Agreements The Company has entered into various renewable, nonexclusive license agreements under which the Company has been granted access to the licensor's technology and the right to sell the technology in the Company's product line. Royalties are payable to developers of the software at various rates and amounts, which generally are based upon unit sales, revenue or flat fees. Royalty fees are reported in cost of goods sold and were $13.1 million , $11.8 million and $11.5 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. |
Geographic Information (Notes)
Geographic Information (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Segments, Geographical Areas [Abstract] | |
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: Year Ended December 31, (in thousands) 2016 2015 2014 United States $ 367,937 $ 354,433 $ 320,327 Japan 120,160 104,299 108,757 Germany 99,814 94,546 99,714 South Korea 56,790 55,142 55,606 France 49,294 49,444 58,785 Canada 13,284 13,314 14,034 Other European 139,813 145,985 159,011 Other international 141,373 125,590 119,787 Total revenue $ 988,465 $ 942,753 $ 936,021 Property and equipment by geographic area is as follows: December 31, (in thousands) 2016 2015 United States $ 43,810 $ 47,971 Europe 4,753 6,808 India 3,033 3,286 Other international 3,081 3,859 Total property and equipment, net $ 54,677 $ 61,924 |
Unconditional Purchase Obligati
Unconditional Purchase Obligations | 12 Months Ended |
Dec. 31, 2016 | |
Unconditional Purchase Obligations (Excluding Capital Stock Redemptions) [Abstract] | |
Unconditional Purchase Obligations | Unconditional Purchase Obligations The Company has entered into various unconditional purchase obligations which primarily include software licenses and long-term purchase contracts for network, communication and office maintenance services. The Company expended $7.2 million , $5.3 million and $2.9 million related to unconditional purchase obligations that existed as of the beginning of each year for the years ended December 31, 2016 , 2015 and 2014 , respectively. Future expenditures under unconditional purchase obligations in effect as of December 31, 2016 are as follows: (in thousands) 2017 $ 14,134 2018 10,288 2019 9,724 2020 2,617 2021 652 Total $ 37,415 |
Restructuring (Notes)
Restructuring (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Restructuring and Related Activities [Abstract] | |
Restructuring | Restructuring During the fourth quarter of 2016, the Company initiated workforce realignment activities. The Company incurred $3.4 million in restructuring charges, or $2.4 million net of tax, during the year ended December 31, 2016 . The Company expects to incur additional charges of $10 million - $15 million , or $7 million - $10 million net of tax, primarily during the first quarter of 2017. |
Employment-Related Settlement (
Employment-Related Settlement (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities [Abstract] | |
Other Liabilities Disclosure | Employment-Related Settlement On February 15, 2017, the Company entered into an employment-related settlement agreement. In connection with the settlement agreement, the Company will make a lump-sum payment of $4.7 million . The charges related to this agreement are included in selling, general and administrative expense in the 2016 consolidated statement of income. As part of the settlement agreement, all the claims initiated against the Company will be withdrawn and a general release of all claims in favor of the Company and all of its related entities was executed. |
Contingencies and Commitments (
Contingencies and Commitments (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
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 commercial disputes, labor and employment matters, tax audits, alleged infringement of intellectual property rights 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 has several service tax audits pending that have resulted in formal inquiries being received on transactions through mid-2012. The Company could incur tax charges and related liabilities, including those related to the service tax audit case, of approximately $7 million . The service tax issues raised in the Company’s notices and inquiries are very similar to the case, M/s Microsoft Corporation (I) (P) Ltd. Vs Commissioner of Service Tax, New Delhi, wherein the Delhi Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has passed a favorable ruling to Microsoft. The Company can provide no assurances on whether the Microsoft case’s favorable ruling will be challenged in higher courts or on the impact that the present Microsoft case’s decision will have on the Company’s cases. The Company is uncertain as to when these service tax matters will be concluded. A French subsidiary of the Company received notice that the French taxing authority rejected the Company's 2012 research and development credit. The Company has contested the decision. However, if the Company does not receive a favorable outcome, it could incur charges of approximately $0.8 million . In addition, an unfavorable outcome could result in the authorities reviewing or rejecting $3.8 million of similar research and development credits for 2013 through the current year that are currently reflected as an asset. The Company can provide no assurances on the timing or outcome of this matter. 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 December 31, 2016 . 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. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Valuation and Qualifying Accounts [Abstract] | |
Valuation and Qualifying Accounts | ANSYS, INC. AND SUBSIDIARIES Valuation and Qualifying Accounts (in thousands) Description Balance at Beginning of Year Additions: Charges to Costs and Expenses Deductions: Returns and Write-Offs Balance at End of Year Year ended December 31, 2016 $ 5,200 $ 2,009 $ 1,509 $ 5,700 Year ended December 31, 2015 $ 5,500 $ 1,304 $ 1,604 $ 5,200 Year ended December 31, 2014 $ 5,700 $ 2,104 $ 2,304 $ 5,500 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Accounting Principles | The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States. |
Principles Of Consolidation | The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated. |
Use Of Estimates | The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 the financial statements. Estimates also affect the amounts of revenue and expenses during the reported periods. Significant estimates included in these consolidated financial statements include: • Allowances for doubtful accounts receivable • Income tax accruals • Uncertain tax positions • Tax valuation reserves • Fair value of stock-based compensation • Contract revenue • Useful lives for depreciation and amortization • Valuations of goodwill and other intangible assets • Contingent consideration • Deferred compensation • Loss contingencies Actual results could differ from these estimates. Changes in estimates are recorded in the results of operations in the period that the changes occur. |
Revenue Recognition | Revenue is derived principally from the licensing of computer software products and from related maintenance contracts. Revenue from perpetual licenses is classified as license revenue and is recognized upon delivery of the licensed product and the utility that enables the customer to access authorization keys, provided that acceptance has occurred and a signed contractual obligation has been received, the price is fixed and determinable, and collectibility of the receivable is probable. The Company determines the fair value of PCS sold together with perpetual licenses based on the rate charged for PCS when sold separately. Revenue from PCS contracts is classified as maintenance and service revenue and is recognized ratably over the term of the contract. Revenue for software lease licenses is classified as license revenue and is recognized over the period of the lease contract. Typically, the Company's software leases include PCS which, due to the short term (principally one year or less) of the Company's software lease licenses, cannot be separated from lease revenue for accounting purposes. As a result, both the lease licenses and PCS are recognized ratably over the lease period. Due to the short-term nature of the software lease licenses and the frequency with which the Company provides major product upgrades (typically annually), the Company does not believe that a significant portion of the fee paid under the arrangement is attributable to the PCS component of the arrangement and, as a result, includes the revenue for the entire arrangement within software license revenue in the consolidated statements of income. Many of the Company's semiconductor products are typically licensed via longer term leases of 24 – 36 months. The Company recognizes revenue for these licenses over the term of the lease contract. Because the Company does not have vendor-specific objective evidence of the fair value of these leases, the Company also recognizes revenue from perpetual licenses over the term of the lease contract during the infrequent occurrence of these licenses being sold with semiconductor leases in multiple-element arrangements. Revenue from training, support and other services is recognized as the services are performed. The Company applies the specific performance method to contracts in which the service consists of a single act, such as providing a training class to a customer, and the proportional performance method to other service contracts that are longer in duration and often include multiple acts (for example, both training and consulting). In applying the proportional performance method, the Company typically utilizes output-based estimates for services with contractual billing arrangements that are not based on time and materials, and estimates output based on the total tasks completed as compared to the total tasks required for each work contract. Input-based estimates are utilized for services that involve general consultations with contractual billing arrangements based on time and materials, utilizing direct labor as the input measure. The Company also executes arrangements through independent channel partners in which the channel partners are authorized to market and distribute the Company's software products to end users of the Company's products and services in specified territories. In sales facilitated by channel partners, the channel partner bears the risk of collection from the end-user customer. The Company recognizes revenue from transactions with channel partners when the channel partner submits a written purchase commitment, collectibility from the channel partner is probable, a license agreement signed by the end-user customer is received and delivery has occurred, provided that all other revenue recognition criteria are satisfied. Revenue from channel partner transactions is the amount remitted to the Company by the channel partners. This amount includes a fee for PCS that is compensation for providing technical enhancements and the second level of technical support to the end user, which is based on the rate charged for PCS when sold separately, and is recognized over the period that PCS is to be provided. The Company does not offer right of return, product rotation or price protection to any of its channel partners. Non-income related taxes collected from customers and remitted to governmental authorities are recorded on the consolidated balance sheet as accounts receivable and accrued expenses. The collection and payment of these amounts are reported on a net basis in the consolidated statements of income and do not impact reported revenues or expenses. The Company warrants to its customers that its software will substantially perform as specified in the Company's most current user manuals. The Company has not experienced significant claims related to software warranties beyond the scope of maintenance support, which the Company is already obligated to provide. Consequently, the Company has not established reserves for warranty obligations. |
Cash And Cash Equivalents | Cash and cash equivalents consist primarily of highly liquid investments such as deposits held at major banks and money market funds with original maturities of three months or less. Cash equivalents are carried at cost, which approximates fair value. The Company's cash and cash equivalents balances comprise the following: December 31, 2016 December 31, 2015 (in thousands, except percentages) Amount % of Total Amount % of Total Cash accounts $ 488,504 59.4 $ 427,244 54.5 Money market funds 333,975 40.6 356,924 45.5 Total $ 822,479 $ 784,168 The Company's money market fund balances are held in various funds of a single issuer. |
Property And Equipment | Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets, which range from one to forty years. Repairs and maintenance are charged to expense as incurred. Gains or losses from the sale or retirement of property and equipment are included in operating income. |
Research And Development | Research and development costs, other than certain capitalized software development costs, are expensed as incurred. |
Software Development Costs | Internally developed software costs required to be capitalized as defined by the accounting guidance are not material to the Company's consolidated financial statements. |
Business Combinations | When the Company consummates an acquisition, the assets acquired and the liabilities assumed are recognized separately from goodwill at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While best estimates and assumptions are used to accurately value assets acquired and liabilities assumed at the acquisition date as well as contingent consideration, where applicable, the Company's estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill as the Company obtains new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Upon the earlier of the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, any subsequent adjustments are recorded in the consolidated statements of income. |
Goodwill And Other Intangible Assets | Goodwill represents the excess of the consideration transferred over the fair value of net identifiable assets acquired. Other intangible assets consist of trade names, customer lists, contract backlog and acquired software and technology. Intangible assets that are not considered to have an indefinite useful life are amortized over their useful lives, which are generally two to fifteen years. Amortization expense for intangible assets was $50.8 million , $58.1 million and $61.0 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company tests goodwill and indefinite-lived intangible assets for impairment at least annually by performing a quantitative assessment of whether the fair value of each reporting unit or asset exceeds its carrying amount. Goodwill is tested at the reporting unit level and indefinite-lived intangible assets are tested at the individual asset level. This requires the Company to assess and make judgments regarding a variety of factors which impact the fair value of the reporting unit or asset being tested, including business plans, anticipated future cash flows, economic projections and other market data. The Company performs its annual impairment tests for goodwill and indefinite-lived intangible assets on January 1 of each year unless there is an indicator that would require a test during the year. The Company periodically reviews the carrying value of other intangible assets and will recognize impairments when events or circumstances indicate that such assets may be impaired. |
Concentrations Of Credit Risk | The Company has a concentration of credit risk with respect to revenue and trade receivables due to the use of certain significant channel partners to market and sell the Company's products. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. The following table outlines concentrations of risk with respect to the Company's revenue: Year Ended December 31, (as a % of revenue) 2016 2015 2014 Revenue from channel partners 24 % 24 % 25 % Largest channel partner 5 % 5 % 4 % 2 nd largest channel partner 2 % 2 % 2 % No single customer accounted for more than 5% of the Company's revenue in 2016 , 2015 or 2014 . In addition to the concentration of credit risk with respect to trade receivables, the Company's cash and cash equivalents are also exposed to concentration of credit risk. The Company's cash and cash equivalent accounts are insured through various public and private bank deposit insurance programs, foreign and domestic; however, a significant portion of the Company's funds are not insured. The following table outlines concentrations of risk with respect to the Company's cash and cash equivalents: As of December 31, (in thousands) 2016 2015 Cash and cash equivalents held domestically $ 593,348 $ 539,031 Cash and cash equivalents held by foreign subsidiaries 229,131 245,137 Cash and cash equivalents held in excess of deposit insurance, foreign and domestic 805,374 763,400 Largest balance of cash and cash equivalents held with one financial institution, foreign and domestic 377,602 440,650 |
Allowance For Doubtful Accounts | The Company makes judgments as to its ability to collect outstanding receivables and provides allowances for a portion of receivables when collection becomes doubtful. Provisions are made based upon a specific review of all significant outstanding invoices from both value and delinquency perspectives. For those invoices not specifically reviewed, provisions are estimated at differing rates based upon the age of the receivable and the geographic area of origin. In determining these percentages, the Company considers its historical collection experience and current economic trends in the customer's industry and geographic region. The Company recorded provisions for doubtful accounts of $2.0 million , $1.3 million and $2.1 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. |
Income Taxes | The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period of the enactment date. The Company records net deferred tax assets to the extent it believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In the event the Company determines that it will be able to realize deferred tax assets for which a valuation allowance was used to reduce their carrying value, the adjustment to the valuation allowance will be recorded as a reduction to the provision for income taxes. Tax benefits related to uncertain tax positions taken or expected to be taken on a tax return are recorded when such benefits meet a more-likely-than-not threshold. Otherwise, these tax benefits are recorded when a tax position has been effectively settled, which means that the statute of limitations has expired or the appropriate taxing authority has completed their examination even though the statute of limitations remains open. The Company recognizes interest and penalties related to income taxes within the income tax expense line in the accompanying consolidated statements of income. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets. |
Foreign Currencies | Certain of the Company's sales and intercompany transactions are denominated in foreign currencies. These transactions are translated to the functional currency at the exchange rate on the transaction date. Assets and liabilities denominated in a currency other than the Company's or subsidiary's functional currency are translated at the effective exchange rate on the balance sheet date. Gains and losses resulting from foreign exchange transactions are included in other income (expense), net. The Company recorded net foreign exchange gains of $0.1 million and $0.5 million for the years ended December 31, 2016 and 2015 , respectively, and net foreign exchange losses of $1.6 million for the year ended December 31, 2014 . The financial statements of the Company's foreign subsidiaries are translated from the functional (local) currency to U.S. Dollars. Assets and liabilities are translated at the exchange rates on the balance sheet date. Results of operations are translated at average exchange rates, which approximate rates in effect when the underlying transactions occurred. |
Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss is composed entirely of foreign currency translation adjustments. |
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: Year Ended December 31, (in thousands, except per share data) 2016 2015 2014 Net income $ 265,636 $ 252,521 $ 254,690 Weighted average shares outstanding – basic 87,227 89,561 92,067 Dilutive effect of stock plans 1,742 1,941 2,127 Weighted average shares outstanding – diluted 88,969 91,502 94,194 Basic earnings per share $ 3.05 $ 2.82 $ 2.77 Diluted earnings per share $ 2.99 $ 2.76 $ 2.70 Anti-dilutive options 260 206 718 |
Stock-Based Compensation | The Company accounts for stock-based compensation in accordance with share-based payment accounting guidance. The guidance requires an entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is recognized over the period during which an employee is required to provide service in exchange for the award, typically the vesting period. |
Fair Value Of Financial Instruments | The Company accounts for certain assets and liabilities at fair value in accordance with the accounting guidance applicable to fair value measurements and disclosures. The carrying values of cash, cash equivalents, short-term investments, accounts receivable, accounts payable, accrued expenses, other accrued liabilities and short-term obligations are deemed to be reasonable estimates of their fair values because of their short-term nature. |
New Accounting Guidance | Business combinations: In January 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). This update narrows the definition of a business. If substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the acquiree is not a business. The update also requires a business to include an input and a substantive process that significantly contributes to the ability to create outputs. This definition is expected to reduce the number of acquisitions accounted for as business combinations, which will impact the accounting treatment of certain items, including the accounting treatment of contingent consideration and transaction expenses. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted and the update will be applied prospectively. The effect of the implementation will depend upon the nature of the Company's future acquisitions, if any. Historically, the Company has entered into acquisitions that would meet the definition of a business under ASU 2017-01. Income taxes: In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). Previous guidance requires the tax effects from intra-entity asset transfers to be deferred until that asset is sold to a third party or recovered through use. ASU 2016-16 eliminates this deferral for all intra-entity asset transfers other than inventory. The standard is effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted and a modified retrospective transition is required upon adoption. The Company plans to adopt ASU 2016-16 beginning in 2018 and expects adoption to have an immaterial effect, if any, on its financial results. Employee share-based payment accounting: In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). This update includes various areas for simplification related to aspects of the accounting for share-based payment transactions. One simplification is that the tax effects of share-based payment settlements will be recorded in the income statement. Prior guidance required tax windfalls at settlement, and tax shortfalls to the extent of previous windfalls, to be recorded in equity. This provision is required to be adopted prospectively. These tax effects will be reported as operating cash flows according to the new guidance as opposed to financing cash flows in the prior guidance. Other simplifications involve the classification of awards as either equity or liabilities and classification on the statements of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. The primary impact of adoption will be the recognition of excess tax benefits or deficiencies in the Company's provision for income taxes rather than paid-in capital, and the related change in classification of such benefits on the consolidated statements of cash flows. Leases: In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02). ASU 2016-02 requires virtually all leases, other than leases that meet the definition of a short-term lease, to be recorded on the balance sheet with a right-of-use asset and corresponding lease liability. As a result, the Company's assets and liabilities will increase upon adoption. Leases will be classified as either operating or finance leases based on certain criteria. This classification will determine the timing and presentation of expenses on the income statement, as well as the presentation of related cash flows. The standard is effective for annual periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted and a modified retrospective transition is required upon adoption. The Company does not expect to early adopt and is currently in the data-gathering phase of implementation. The Company is currently evaluating the effect that implementation of this update will have on its financial results upon adoption. Revenue from contracts with customers: In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09). ASU 2014-09 supersedes most current revenue recognition guidance, including industry-specific guidance. Previous guidance requires an entity to recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the seller's price to the buyer is fixed or determinable, and collectibility is reasonably assured. Under the new guidance, an entity is required to evaluate revenue recognition by identifying a contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations in the contract and recognizing revenue when (or as) the entity satisfies a performance obligation. The standard also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , delayed the effective date of ASU 2014-09 to annual periods beginning after December 15, 2017, including interim periods within that reporting period. This standard is effective for the Company on January 1, 2018. Entities have the option of using a full retrospective, cumulative effect or modified approach to adopt ASU 2014-09. The Company expects to utilize the full retrospective method to restate each prior period presented upon adoption. This update will impact the timing and amounts of revenue recognized. The Company's preliminary assessment is that the adoption of this standard will have a material impact on the Company’s consolidated financial statements. While the Company expects that the standard will impact various elements of its business, the Company's initial assessment is that the most significant impact will be on the recognition of revenue related to software lease licenses. These licenses include the right to use the software and PCS over the term of the license. These licenses are currently recognized as revenue ratably over the term of the license. Under the new standard and the existing interpretations, the Company expects to recognize a meaningful portion of the revenue related to these licenses up-front at the time the license is delivered. However, the Company's preliminary assessment could change as additional interpretations relating to the new standard are provided and as issues identified by software industry groups are addressed. |
Summary Of Significant Accoun31
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Summary Of Cash And Cash Equivalents | The Company's cash and cash equivalents balances comprise the following: December 31, 2016 December 31, 2015 (in thousands, except percentages) Amount % of Total Amount % of Total Cash accounts $ 488,504 59.4 $ 427,244 54.5 Money market funds 333,975 40.6 356,924 45.5 Total $ 822,479 $ 784,168 |
Basic And Diluted Earnings Per Share | The details of basic and diluted EPS are as follows: Year Ended December 31, (in thousands, except per share data) 2016 2015 2014 Net income $ 265,636 $ 252,521 $ 254,690 Weighted average shares outstanding – basic 87,227 89,561 92,067 Dilutive effect of stock plans 1,742 1,941 2,127 Weighted average shares outstanding – diluted 88,969 91,502 94,194 Basic earnings per share $ 3.05 $ 2.82 $ 2.77 Diluted earnings per share $ 2.99 $ 2.76 $ 2.70 Anti-dilutive options 260 206 718 |
Customer Concentration Risk [Member] | |
Schedule Of Risk Concentration | The following table outlines concentrations of risk with respect to the Company's revenue: Year Ended December 31, (as a % of revenue) 2016 2015 2014 Revenue from channel partners 24 % 24 % 25 % Largest channel partner 5 % 5 % 4 % 2 nd largest channel partner 2 % 2 % 2 % |
Credit Concentration Risk [Member] | |
Schedule Of Risk Concentration | The following table outlines concentrations of risk with respect to the Company's cash and cash equivalents: As of December 31, (in thousands) 2016 2015 Cash and cash equivalents held domestically $ 593,348 $ 539,031 Cash and cash equivalents held by foreign subsidiaries 229,131 245,137 Cash and cash equivalents held in excess of deposit insurance, foreign and domestic 805,374 763,400 Largest balance of cash and cash equivalents held with one financial institution, foreign and domestic 377,602 440,650 |
Acquisitions (Tables)
Acquisitions (Tables) - SpaceClaim Corporation [Member] | 12 Months Ended |
Dec. 31, 2016 | |
Business Acquisition [Line Items] | |
Fair Value of Consideration Transferred | Fair Value of Consideration Transferred: (in thousands) Cash $ 84,892 ANSYS replacement stock options 68 Total consideration transferred at fair value $ 84,960 |
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed | Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: (in thousands) Cash $ 723 Accounts receivable and other tangible assets 1,857 Developed technology (10-year life) 15,800 Customer relationships (6-year life) 9,400 Trade name (6-year life) 1,300 Contract backlog (6-year life) 550 Non-compete agreement (2-year life) 300 Net deferred tax assets 9,288 Accounts payable and other liabilities (2,011 ) Deferred revenue (700 ) Total identifiable net assets $ 36,507 Goodwill $ 48,453 |
Other Receivables and Current33
Other Receivables and Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Prepaid Expense and Other Assets, Current [Abstract] | |
Schedule of Other Receivables and Current Assets | The Company's other receivables and current assets comprise the following balances: December 31, (in thousands) 2016 2015 Receivables related to unrecognized revenue $ 199,119 $ 170,186 Income taxes receivable, including overpayments and refunds 15,718 7,877 Prepaid expenses and other current assets 24,512 22,170 Total other receivables and current assets $ 239,349 $ 200,233 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Components Of Property and Equipment | Property and equipment consists of the following: December 31, (in thousands) Estimated Useful Lives 2016 2015 Equipment 1-10 years $ 78,614 $ 78,932 Computer software 1-5 years 30,867 33,710 Buildings 10-40 years 25,472 25,041 Leasehold improvements 1-15 years 11,571 12,621 Furniture 1-13 years 8,618 8,601 Land 1,759 1,759 Property and equipment, gross 156,901 160,664 Less: Accumulated depreciation (102,224 ) (98,740 ) Property and equipment, net $ 54,677 $ 61,924 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets and Estimated Useful Lives | The Company's intangible assets and estimated useful lives are classified as follows: December 31, 2016 December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Finite-lived intangible assets: Developed software and core technologies (3 – 11 years) $ 338,594 $ (275,130 ) $ 336,262 $ (251,201 ) Customer lists and contract backlog (5 – 15 years) 159,549 (88,414 ) 159,885 (76,160 ) Trade names (2 – 10 years) 127,952 (90,289 ) 127,903 (76,493 ) Total $ 626,095 $ (453,833 ) $ 624,050 $ (403,854 ) Indefinite-lived intangible assets: Trade names $ 357 $ 357 |
Estimated Future Amortization Expense for Intangible Assets | As of December 31, 2016 , estimated future amortization expense for the intangible assets reflected above is as follows: (in thousands) 2017 $ 47,937 2018 34,643 2019 21,332 2020 20,325 2021 16,199 Thereafter 31,826 Total intangible assets subject to amortization, net 172,262 Indefinite-lived trade name 357 Other intangible assets, net $ 172,619 |
Changes in Goodwill | The changes in goodwill during the years ended December 31, 2016 and 2015 are as follows: (in thousands) 2016 2015 Beginning balance - January 1 $ 1,332,348 $ 1,312,182 Acquisitions 6,184 28,561 Adjustments (1) (1 ) (4,573 ) Currency translation (1,316 ) (3,822 ) Ending balance - December 31 $ 1,337,215 $ 1,332,348 (1) In accordance with the accounting for business combinations, the Company recorded adjustments to goodwill for the effect of changes in the provisional fair values of the assets acquired and liabilities assumed during the measurement period (up to one year from the acquisition date) as the Company obtained new information about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
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) December 31, 2016 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Cash equivalents $ 333,975 $ 333,975 $ — $ — Short-term investments $ 381 $ — $ 381 $ — Deferred compensation plan investments $ 459 $ 459 $ — $ — Fair Value Measurements at Reporting Date Using: (in thousands) December 31, 2015 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Cash equivalents $ 356,924 $ 356,924 $ — $ — Short-term investments $ 446 $ — $ 446 $ — Liabilities Contingent consideration $ (1,376 ) $ — $ — $ (1,376 ) |
Changes in Level 3 Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs | The following table presents the changes during the years ended December 31, 2016 and 2015 in the Company's Level 3 liability for contingent consideration that is measured at fair value on a recurring basis: Fair Value Measurement Using Significant Unobservable Inputs (in thousands) Contingent Consideration Balance as of January 1, 2015 $ 2,621 Contingent payments (1,456 ) Interest expense and foreign exchange activity included in earnings 211 Balance as of December 31, 2015 $ 1,376 Contingent payments (1,448 ) Interest expense and foreign exchange activity included in earnings 72 Balance as of December 31, 2016 $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Components Of Income Before Income Taxes | Income before income taxes includes the following components: Year Ended December 31, (in thousands) 2016 2015 2014 Domestic $ 340,251 $ 325,097 $ 291,042 Foreign 40,064 31,668 57,097 Total $ 380,315 $ 356,765 $ 348,139 |
Components Of Provision For Income Taxes | The provision for income taxes is composed of the following: Year Ended December 31, (in thousands) 2016 2015 2014 Current: Federal $ 99,783 $ 93,853 $ 80,620 State 8,338 7,733 7,192 Foreign 17,479 17,854 24,495 Deferred: Federal (13,368 ) (14,472 ) (18,536 ) State (1,036 ) (1,987 ) (1,915 ) Foreign 3,483 1,263 1,593 Total $ 114,679 $ 104,244 $ 93,449 |
Reconciliation Of U.S. Federal Statutory Tax Rate To Consolidated Effective Tax Rate | The reconciliation of the U.S. federal statutory tax rate to the consolidated effective tax rate is as follows: Year Ended December 31, 2016 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 1.6 1.1 1.2 Uncertain tax positions (0.2 ) (0.4 ) (0.9 ) Research and development credits (1.0 ) (1.1 ) (1.1 ) Benefit from restructuring activities (2.2 ) (2.7 ) (4.1 ) Domestic production activity benefit (3.7 ) (3.1 ) (3.5 ) Other 0.7 0.4 0.2 30.2 % 29.2 % 26.8 % |
Components Of Deferred Tax Assets And Liabilities | The components of deferred tax assets and liabilities are as follows: December 31, (in thousands) 2016 2015 Deferred tax assets: Net operating loss carryforwards $ 32,969 $ 40,939 Stock-based compensation 23,652 23,258 Employee benefits 17,187 17,044 Uncertain tax positions 11,562 10,233 Deferred revenue 6,382 8,603 Research and development credits 3,889 3,562 Allowance for doubtful accounts 2,078 1,888 Other 3,163 3,240 Valuation allowance (1,625 ) (603 ) 99,257 108,164 Deferred tax liabilities: Other intangible assets (56,195 ) (73,933 ) Property and equipment (2,994 ) (3,426 ) (59,189 ) (77,359 ) Net deferred tax assets $ 40,068 $ 30,805 |
Reconciliation Of Unrecognized Tax Benefits | The following is a reconciliation of the total amounts of unrecognized tax benefits: Year Ended December 31, (in thousands) 2016 2015 2014 Unrecognized tax benefit as of January 1 $ 16,067 $ 16,342 $ 19,590 Gross increases—tax positions in prior period 983 64 488 Gross decreases—tax positions in prior period (2,502 ) (850 ) (3,715 ) Gross increases—tax positions in current period 2,725 4,064 2,513 Reductions due to a lapse of the applicable statute of limitations (927 ) (2,808 ) (1,924 ) Changes due to currency fluctuation (348 ) (653 ) (610 ) Settlements (789 ) (92 ) — Unrecognized tax benefit as of December 31 $ 15,209 $ 16,067 $ 16,342 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Stock-Based Compensation Expense | Total stock-based compensation expense recognized for the years ended December 31, 2016 , 2015 and 2014 is as follows: Year Ended December 31, (in thousands, except per share amounts) 2016 2015 2014 Cost of sales: Software licenses $ 701 $ 745 $ 1,776 Maintenance and service 1,578 1,868 2,035 Operating expenses: Selling, general and administrative 15,990 17,153 17,073 Research and development 15,078 14,185 15,977 Stock-based compensation expense before taxes 33,347 33,951 36,861 Related income tax benefits (10,538 ) (11,656 ) (10,927 ) Stock-based compensation expense, net of taxes $ 22,809 $ 22,295 $ 25,934 Net impact on earnings per share: Basic earnings per share $ (0.26 ) $ (0.25 ) $ (0.28 ) Diluted earnings per share $ (0.26 ) $ (0.24 ) $ (0.28 ) |
Summary Of Stock Options | Information regarding stock option transactions is summarized below: Year Ended December 31, 2016 2015 2014 (options in thousands) Options Weighted- Average Exercise Price Options Weighted- Average Exercise Price Options Weighted- Average Exercise Price Outstanding, beginning of year 3,986 $ 51.07 4,932 $ 48.76 6,166 $ 44.77 Granted 260 $ 94.38 57 $ 88.10 150 $ 81.09 Issued pursuant to acquisitions — $ — 8 $ 12.26 21 $ 23.26 Exercised (1,082 ) $ 45.57 (975 ) $ 40.52 (1,266 ) $ 31.36 Forfeited (28 ) $ 72.07 (36 ) $ 70.15 (139 ) $ 61.11 Outstanding, end of year 3,136 $ 56.37 3,986 $ 51.07 4,932 $ 48.76 Vested and Exercisable, end of year 2,762 $ 51.80 3,539 $ 48.29 3,958 $ 44.22 2016 2015 2014 Weighted-Average Remaining Contractual Term (in years) Outstanding 4.62 4.85 5.53 Vested and Exercisable 4.04 4.53 5.00 Aggregate Intrinsic Value (in thousands) Outstanding $ 113,822 $ 165,131 $ 163,932 Vested and Exercisable $ 112,379 $ 156,487 $ 149,536 |
Information Regarding Stock Options Outstanding | Information regarding stock options outstanding as of December 31, 2016 is summarized below: (options in thousands) Options Outstanding Options Exercisable Range of Exercise Prices Options Weighted- Weighted- Options Weighted- $5.91 - $40.89 874 2.35 $ 34.25 868 $ 34.39 $41.33 - $58.67 1,175 4.25 $ 54.02 1,175 $ 54.02 $61.68 - $69.70 641 5.71 $ 67.38 641 $ 67.38 $73.45 - $95.09 446 8.47 $ 90.11 78 $ 83.78 |
Stock Options [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Assumptions To Estimate Fair Value Of Stock Awards | The table below presents the weighted average input assumptions used and resulting fair values for options granted or issued in business combinations during each respective year: Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.19% to 1.93% 1.18% to 1.65% 1.49% to 1.76% Expected dividend yield —% —% —% Expected volatility 24% 25% 35% Expected term 5.7 years 5.6 years 5.7 years Weighted-average fair value per share $23.96 $30.83 $32.26 |
Restricted Stock Units (RSUs) [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Assumptions To Estimate Fair Value Of Stock Awards | Year Ended December 31, Assumptions used in Monte Carlo lattice pricing model 2016 2015 2014 Risk-free interest rate 1.0% 1.1% 0.7% Expected dividend yield —% —% —% Expected volatility—ANSYS stock price 21% 23% 25% Expected volatility—NASDAQ Composite Index 16% 14% 15% Expected term 2.8 years 2.8 years 2.8 years Correlation factor 0.65 0.60 0.70 |
Stock Repurchase Program (Table
Stock Repurchase Program (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Class of Stock Disclosures [Abstract] | |
Stock Repurchase Program | Under the Company's stock repurchase program, the Company repurchased shares as follows: Year Ended December 31, (in thousands, except per share data) 2016 2015 2014 Number of shares repurchased 3,700 3,833 2,977 Average price paid per share $ 90.90 $ 88.16 $ 78.54 Total cost $ 336,335 $ 337,910 $ 233,793 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease payments, including termination fees, under noncancellable operating leases for office space in effect at December 31, 2016 are as follows: (in thousands) 2017 $ 12,516 2018 9,901 2019 9,178 2020 6,961 2021 6,132 Thereafter 21,204 Total $ 65,892 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segments, Geographical Areas [Abstract] | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | Revenue by geographic area is as follows: Year Ended December 31, (in thousands) 2016 2015 2014 United States $ 367,937 $ 354,433 $ 320,327 Japan 120,160 104,299 108,757 Germany 99,814 94,546 99,714 South Korea 56,790 55,142 55,606 France 49,294 49,444 58,785 Canada 13,284 13,314 14,034 Other European 139,813 145,985 159,011 Other international 141,373 125,590 119,787 Total revenue $ 988,465 $ 942,753 $ 936,021 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country | Property and equipment by geographic area is as follows: December 31, (in thousands) 2016 2015 United States $ 43,810 $ 47,971 Europe 4,753 6,808 India 3,033 3,286 Other international 3,081 3,859 Total property and equipment, net $ 54,677 $ 61,924 |
Unconditional Purchase Obliga42
Unconditional Purchase Obligations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Unconditional Purchase Obligations (Excluding Capital Stock Redemptions) [Abstract] | |
Unrecorded Unconditional Purchase Obligations Disclosure | Future expenditures under unconditional purchase obligations in effect as of December 31, 2016 are as follows: (in thousands) 2017 $ 14,134 2018 10,288 2019 9,724 2020 2,617 2021 652 Total $ 37,415 |
Organization - Additional Infor
Organization - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016Segment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of operating segments | 1 |
Summary Of Significant Accoun44
Summary Of Significant Accounting Policies - Additional Information (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Amortization | $ 50,847 | $ 58,149 | $ 61,041 |
Provisions for doubtful accounts | 2,009 | 1,304 | 2,104 |
Net foreign exchange gains (losses) | $ 77 | $ 486 | $ (1,649) |
Minimum [Member] | |||
Semiconductor product licenses, term | 24 months | ||
Property and equipment, estimated useful lives (years) | 1 year | ||
Maximum [Member] | |||
Semiconductor product licenses, term | 36 months | ||
Property and equipment, estimated useful lives (years) | 40 years | ||
Customer Concentration Risk [Member] | |||
Number of customers with more than five percent of revenue | 0 | 0 | 0 |
Summary Of Significant Accoun45
Summary Of Significant Accounting Policies (Summary Of Cash And Cash Equivalents) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Accounting Policies [Abstract] | ||||
Cash accounts | $ 488,504 | $ 427,244 | ||
Money market funds | 333,975 | 356,924 | ||
Cash and cash equivalents | $ 822,479 | $ 784,168 | $ 788,064 | $ 742,486 |
Cash accounts, % of Total | 59.40% | 54.50% | ||
Money market funds, % of Total | 40.60% | 45.50% |
Summary Of Significant Accoun46
Summary Of Significant Accounting Policies (Schedule Of Risk Concentration) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Concentration Risk [Line Items] | ||||
Cash and cash equivalents, at carrying value | $ 822,479 | $ 784,168 | $ 788,064 | $ 742,486 |
Customer Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Channel partner concentration risk, percentage | 24.40% | 24.20% | 24.90% | |
Credit Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Cash and cash equivalents held in excess of deposit insurance, foreign and domestic | $ 805,374 | $ 763,400 | ||
Largest balance of cash and cash equivalents held with one financial institution, foreign and domestic | $ 377,602 | $ 440,650 | ||
1st Largest Channel Partner [Member] | Customer Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Channel partner concentration risk, percentage | 5.00% | 5.00% | 4.00% | |
2nd Largest Channel Partner [Member] | Customer Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Channel partner concentration risk, percentage | 2.00% | 2.00% | 2.00% | |
United States | Credit Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Cash and cash equivalents, at carrying value | $ 593,348 | $ 539,031 | ||
FOREIGN | Credit Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Cash and cash equivalents, at carrying value | $ 229,131 | $ 245,137 |
Summary Of Significant Accoun47
Summary Of Significant Accounting Policies (Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounting Policies [Abstract] | |||
Net income | $ 265,636 | $ 252,521 | $ 254,690 |
Weighted average shares outstanding - basic | 87,227 | 89,561 | 92,067 |
Dilutive effect of stock plans | 1,742 | 1,941 | 2,127 |
Weighted average shares outstanding - diluted | 88,969 | 91,502 | 94,194 |
Basic earnings per share | $ 3.05 | $ 2.82 | $ 2.77 |
Diluted earnings per share | $ 2.99 | $ 2.76 | $ 2.70 |
Anti-dilutive options | 260 | 206 | 718 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) - USD ($) $ in Thousands | Apr. 30, 2014 | Jan. 03, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Apr. 30, 2015 | Jan. 03, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 1,337,215 | $ 1,332,348 | $ 1,312,182 | ||||
Other Acquisitions [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration transferred at fair value | 10,300 | 49,700 | |||||
Business combination, historical carrying value of acquired deferred revenue | 900 | ||||||
Acquired deferred revenue, impact on reported revenue | 103 | 800 | |||||
Deferred revenue | 0 | ||||||
SpaceClaim Corporation [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration transferred at fair value | $ 84,960 | ||||||
Business combination, historical carrying value of acquired deferred revenue | $ 3,300 | ||||||
Acquired deferred revenue, impact on reported revenue | 600 | 2,000 | |||||
Goodwill, period increase (decrease) | $ (4,800) | ||||||
Deferred revenue | (700) | ||||||
Goodwill | 48,453 | ||||||
Reaction Design [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration transferred at fair value | $ 19,100 | ||||||
Business combination, historical carrying value of acquired deferred revenue | $ 2,300 | ||||||
Acquired deferred revenue, impact on reported revenue | $ 300 | $ 2,000 | |||||
Goodwill, period increase (decrease) | $ 1,900 | ||||||
Deferred revenue | 0 | ||||||
Finite-lived intangibles | 7,000 | ||||||
Goodwill | $ 9,200 | ||||||
Noncontrolling interest, period decrease | $ (600) | ||||||
Minimum [Member] | Reaction Design [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible asset, useful life | 2 years | ||||||
Maximum [Member] | Reaction Design [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Finite-lived intangible asset, useful life | 11 years |
Fair Value of Consideration Tra
Fair Value of Consideration Transferred (Detail) - USD ($) $ in Thousands | Apr. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||
ANSYS replacement stock options | $ 0 | $ 3,528 | $ 68 | |
SpaceClaim Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash payments for acquisitions | $ 84,892 | |||
ANSYS replacement stock options | 68 | |||
Total consideration transferred at fair value | $ 84,960 |
Recognized Amounts of Identifia
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Combination, Separately Recognized Transactions [Line Items] | |||
Goodwill | $ 1,337,215 | $ 1,332,348 | $ 1,312,182 |
SpaceClaim Corporation [Member] | |||
Business Combination, Separately Recognized Transactions [Line Items] | |||
Cash | 723 | ||
Accounts receivable and other tangible assets | 1,857 | ||
Deferred tax assets | 9,288 | ||
Accounts payable and other liabilities | (2,011) | ||
Deferred revenue | (700) | ||
Total identifiable net assets | 36,507 | ||
Goodwill | 48,453 | ||
SpaceClaim Corporation [Member] | Developed Software | |||
Business Combination, Separately Recognized Transactions [Line Items] | |||
Finite-lived intangibles | 15,800 | ||
SpaceClaim Corporation [Member] | Customer Relationships | |||
Business Combination, Separately Recognized Transactions [Line Items] | |||
Finite-lived intangibles | 9,400 | ||
SpaceClaim Corporation [Member] | Trade Names | |||
Business Combination, Separately Recognized Transactions [Line Items] | |||
Finite-lived intangibles | 1,300 | ||
SpaceClaim Corporation [Member] | Contract Backlog | |||
Business Combination, Separately Recognized Transactions [Line Items] | |||
Finite-lived intangibles | 550 | ||
SpaceClaim Corporation [Member] | Non-Compete Agreements | |||
Business Combination, Separately Recognized Transactions [Line Items] | |||
Finite-lived intangibles | $ 300 |
Recognized Amounts of Identif51
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed Estimated Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
SpaceClaim Corporation [Member] | Developed Software | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 10 years |
SpaceClaim Corporation [Member] | Customer Relationships | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 6 years |
SpaceClaim Corporation [Member] | Trade Names | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 6 years |
SpaceClaim Corporation [Member] | Contract Backlog | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 6 years |
SpaceClaim Corporation [Member] | Non-Compete Agreements | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 2 years |
Maximum [Member] | Trade Names | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 10 years |
Maximum [Member] | Reaction Design [Member] | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 11 years |
Minimum [Member] | Trade Names | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 2 years |
Minimum [Member] | Reaction Design [Member] | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Finite-lived intangible asset, useful life | 2 years |
Other Receivables and Current52
Other Receivables and Current Assets - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other receivables and current assets | $ 239,349 | $ 200,233 |
Receivables related to unrecognized revenue | ||
Other receivables and current assets | 199,119 | 170,186 |
Income taxes receivable, including overpayments and refunds | ||
Other receivables and current assets | 15,718 | 7,877 |
Prepaid expenses and other current assets | ||
Other receivables and current assets | $ 24,512 | $ 22,170 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense related to property and equipment | $ 18.7 | $ 19.5 | $ 20.9 |
Property and Equipment (Compone
Property and Equipment (Components Of Property and Equipment) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 156,901 | $ 160,664 |
Less: Accumulated depreciation | (102,224) | (98,740) |
Property and equipment, net | 54,677 | 61,924 |
Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 78,614 | 78,932 |
Computer Software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 30,867 | 33,710 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 25,472 | 25,041 |
Leasehold Improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 11,571 | 12,621 |
Furniture | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 8,618 | 8,601 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 1,759 | $ 1,759 |
Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 1 year | |
Minimum [Member] | Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 1 year | |
Minimum [Member] | Computer Software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 1 year | |
Minimum [Member] | Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 10 years | |
Minimum [Member] | Leasehold Improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 1 year | |
Minimum [Member] | Furniture | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 1 year | |
Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 40 years | |
Maximum [Member] | Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 10 years | |
Maximum [Member] | Computer Software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 5 years | |
Maximum [Member] | Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 40 years | |
Maximum [Member] | Leasehold Improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 15 years | |
Maximum [Member] | Furniture | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, estimated useful lives (years) | 13 years |
Intangible Assets and Estimated
Intangible Assets and Estimated Useful Lives (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Intangible Assets [Line Items] | ||
Amortized intangible assets, gross carrying amount | $ 626,095 | $ 624,050 |
Amortized intangible assets, accumulated amortization | (453,833) | (403,854) |
Unamortized intangible assets, gross carrying amount | 357 | |
Developed Software and Core Technologies | ||
Intangible Assets [Line Items] | ||
Amortized intangible assets, gross carrying amount | 338,594 | 336,262 |
Amortized intangible assets, accumulated amortization | (275,130) | (251,201) |
Customer Lists and Contract Backlog | ||
Intangible Assets [Line Items] | ||
Amortized intangible assets, gross carrying amount | 159,549 | 159,885 |
Amortized intangible assets, accumulated amortization | (88,414) | (76,160) |
Trade Names | ||
Intangible Assets [Line Items] | ||
Amortized intangible assets, gross carrying amount | 127,952 | 127,903 |
Amortized intangible assets, accumulated amortization | (90,289) | (76,493) |
Trade Names | ||
Intangible Assets [Line Items] | ||
Unamortized intangible assets, gross carrying amount | $ 357 | $ 357 |
Intangible Assets and Estimat56
Intangible Assets and Estimated Useful Lives | 12 Months Ended |
Dec. 31, 2016 | |
Developed Software and Core Technologies | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 3 years |
Developed Software and Core Technologies | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 11 years |
Customer Lists and Contract Backlog | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 5 years |
Customer Lists and Contract Backlog | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 15 years |
Trade Names | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 2 years |
Trade Names | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible asset, useful life | 10 years |
Goodwill and Intangible Asset57
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization | $ 50,847 | $ 58,149 | $ 61,041 |
Estimated Future Amortization E
Estimated Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,017 | $ 47,937 | |
2,018 | 34,643 | |
2,019 | 21,332 | |
2,020 | 20,325 | |
2,021 | 16,199 | |
Thereafter | 31,826 | |
Total intangible assets subject to amortization, net | 172,262 | |
Indefinite-lived trade name | 357 | |
Other intangible assets, net | $ 172,619 | $ 220,553 |
Changes in Goodwill (Detail)
Changes in Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Roll Forward] | ||
Beginning balance | $ 1,332,348 | $ 1,312,182 |
Acquisitions | 6,184 | 28,561 |
Adjustments | (1) | (4,573) |
Currency translation | (1,316) | (3,822) |
Ending balance | $ 1,337,215 | $ 1,332,348 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 333,975 | $ 356,924 |
Short-term investments | 381 | 446 |
Deferred compensation plan investments | 459 | |
Contingent consideration | (1,376) | |
Quoted Prices in Active Markets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 333,975 | 356,924 |
Short-term investments | 0 | 0 |
Deferred compensation plan investments | 459 | |
Contingent consideration | 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 | 381 | 446 |
Deferred compensation plan investments | 0 | |
Contingent consideration | 0 | |
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 |
Deferred compensation plan investments | $ 0 | |
Contingent consideration | $ (1,376) |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Minimum [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments maturity | 3 months |
Maximum [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments maturity | 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) - Contingent Consideration - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 1,376 | $ 2,621 |
Contingent payments | (1,448) | (1,456) |
Interest expense and foreign exchange activity included in earnings | 72 | 211 |
Ending balance | $ 0 | $ 1,376 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Contingency [Line Items] | ||
Amount in excess of the amount for financial reporting over the tax bases | $ 199,000 | |
Deferred tax liabilities, undistributed foreign earnings | 35,000 | |
Deferred tax assets, operating loss carryforwards, foreign | 13,200 | |
Deferred tax assets, valuation allowance | 1,625 | $ 603 |
Valuation allowance, deferred tax asset, increase, amount | 1,000 | |
Deferred tax assets, operating loss carryforwards, state and local | 1,200 | |
Tax credit carryforwards | 5,200 | |
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit | 100 | |
Unrecognized tax benefits that would impact effective tax rate | 9,200 | |
Penalty expense | 800 | |
Interest benefit | 100 | |
Liability for penalties | 2,700 | 1,900 |
Liability for interest | 2,800 | $ 2,700 |
Subject To Expiration [Member] | ||
Income Tax Contingency [Line Items] | ||
Tax credit carryforwards | 4,300 | |
Subject To Utilization Limitations [Member] | ||
Income Tax Contingency [Line Items] | ||
Tax credit carryforwards | 3,000 | |
Not Subject To Expiration [Member] | ||
Income Tax Contingency [Line Items] | ||
Tax credit carryforwards | 900 | |
Foreign Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Net operating loss carryforwards | 76,900 | |
Federal Domestic [Member] | ||
Income Tax Contingency [Line Items] | ||
Net operating loss carryforwards | 28,700 | |
Operating Loss Carryforward With No Expiration Date [Member] | Foreign Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Net operating loss carryforwards | 28,200 | |
Subject To Expiration [Member] | Foreign Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Net operating loss carryforwards | $ 48,700 | |
Earliest Tax Year [Member] | ||
Income Tax Contingency [Line Items] | ||
Tax credit carryforward, expiration date | Jan. 1, 2017 | |
Years open to examination | 2,013 | |
Earliest Tax Year [Member] | Foreign Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating loss carryforwards, expiration date | Jan. 1, 2019 | |
Earliest Tax Year [Member] | Federal Domestic [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating loss carryforwards, expiration date | Jan. 1, 2020 | |
Earliest Tax Year [Member] | State and Local Jurisdiction [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating loss carryforwards, expiration date | Jan. 1, 2017 | |
Latest Tax Year [Member] | ||
Income Tax Contingency [Line Items] | ||
Tax credit carryforward, expiration date | Dec. 31, 2036 | |
Years open to examination | 2,016 | |
Latest Tax Year [Member] | Foreign Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating loss carryforwards, expiration date | Dec. 31, 2025 | |
Latest Tax Year [Member] | Federal Domestic [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating loss carryforwards, expiration date | Dec. 31, 2034 | |
Latest Tax Year [Member] | State and Local Jurisdiction [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating loss carryforwards, expiration date | Dec. 31, 2035 | |
Valuation Allowance, Operating Loss Carryforwards [Member] | Foreign Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred tax assets, valuation allowance | $ 13,200 |
Income Taxes (Components Of Inc
Income Taxes (Components Of Income Before Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 340,251 | $ 325,097 | $ 291,042 |
Foreign | 40,064 | 31,668 | 57,097 |
Income before income tax provision | $ 380,315 | $ 356,765 | $ 348,139 |
Income Taxes (Components Of Pro
Income Taxes (Components Of Provision For Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Current, Federal | $ 99,783 | $ 93,853 | $ 80,620 |
Current, State | 8,338 | 7,733 | 7,192 |
Current, Foreign | 17,479 | 17,854 | 24,495 |
Deferred, Federal | (13,368) | (14,472) | (18,536) |
Deferred, State | (1,036) | (1,987) | (1,915) |
Deferred, Foreign | 3,483 | 1,263 | 1,593 |
Total | $ 114,679 | $ 104,244 | $ 93,449 |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of U.S. Federal Statutory Tax Rate To Consolidated Effective Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | 1.60% | 1.10% | 1.20% |
Uncertain tax positions | (0.20%) | (0.40%) | (0.90%) |
Research and development credits | (1.00%) | (1.10%) | (1.10%) |
Benefit from restructuring activities | (2.20%) | (2.70%) | (4.10%) |
Domestic production activity benefit | (3.70%) | (3.10%) | (3.50%) |
Other | 0.70% | 0.40% | 0.20% |
Consolidated effective tax rate | 30.20% | 29.20% | 26.80% |
Income Taxes (Components Of Def
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 32,969 | $ 40,939 |
Stock-based compensation | 23,652 | 23,258 |
Employee benefits | 17,187 | 17,044 |
Uncertain tax positions | 11,562 | 10,233 |
Deferred revenue | 6,382 | 8,603 |
Research and development credits | 3,889 | 3,562 |
Allowance for doubtful accounts | 2,078 | 1,888 |
Other | 3,163 | 3,240 |
Valuation allowance | (1,625) | (603) |
Deferred tax assets | 99,257 | 108,164 |
Other intangible assets | (56,195) | (73,933) |
Property and equipment | (2,994) | (3,426) |
Deferred tax liabilities | (59,189) | (77,359) |
Net deferred tax assets | $ 40,068 | $ 30,805 |
Income Taxes (Reconciliation 68
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefit as of January 1 | $ 16,067 | $ 16,342 | $ 19,590 |
Gross increases-tax positions in prior period | 983 | 64 | 488 |
Gross decreases-tax positions in prior period | (2,502) | (850) | (3,715) |
Gross increases-tax positions in current period | 2,725 | 4,064 | 2,513 |
Reductions due to a lapse of the applicable statute of limitations | (927) | (2,808) | (1,924) |
Changes due to currency fluctuation | (348) | (653) | (610) |
Settlements | (789) | (92) | 0 |
Unrecognized tax benefit as of December 31 | $ 15,209 | $ 16,067 | $ 16,342 |
Pension And Profit-Sharing Pl69
Pension And Profit-Sharing Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Plan Disclosure [Line Items] | |||
Expenses related to retirement programs | $ 9.1 | $ 8.4 | $ 8.9 |
Four Zero One K Plan [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Maximum annual contributions per employee, percent | 4.25% | ||
Minimum working hours per employee required to be eligible for discretionary contribution | 1000 hours | ||
First Three Percent Of Employee Pay [Member] | Four Zero One K Plan [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Percentage of employee contribution employer matches | 100.00% | ||
Percentage of employee pay employer matches | 3.00% | ||
More Than Three Percent Up To Eight Percent Of Employee Pay [Member] | Four Zero One K Plan [Member] | |||
Defined Contribution Plan Disclosure [Line Items] | |||
Percentage of employee contribution employer matches | 25.00% | ||
Percentage of employee pay employer matches | 5.00% |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Shares authorized for grant under the plan | 39,800,000 | 39,800,000 | ||
Percentage of voting interest to be held by optionee | 10.00% | |||
Exercise price as a percentage of fair value at the time of grant | 110.00% | |||
Expiration period of options from the date of grant | 10 years | |||
Expiration period for optionee who meets the 10% criteria | 5 years | |||
Vesting period | 4 years | |||
Maximum months after sale event where awards fully vest when service relationship terminated without cause | 18 months | |||
Maximum number of days that may be granted to terminated employee to exercise awards prior to termination | 15 days | |||
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value | $ 7,400 | $ 12,300 | $ 19,500 | |
Total unrecognized estimated compensation cost | $ 8,200 | $ 8,200 | ||
Weighted-average period of recognition of unrecognized compensation cost (years) | 2 years 1 month | |||
Total intrinsic value of options exercised during the period | $ 49,800 | 47,100 | 60,600 | |
Unvested options | 400,000 | 400,000 | ||
Aggregate intrinsic value of unvested options | $ 1,400 | $ 1,400 | ||
Weighted-average exercise price of unvested options | $ 90.12 | $ 90.12 | ||
Weighted-average remaining contractual term of unvested stock options (years) | 8 years 11 months | |||
Employee service share-based compensation, cash received from exercise of stock options | $ 49,300 | |||
Tax benefit from exercise of stock options | 18,600 | |||
Stock-based compensation expense | 33,347 | 33,951 | 36,861 | |
Fair value of stock options and restricted stock awards assumed in connection with acquisitions | $ 0 | $ 3,528 | $ 68 | |
Performance Shares [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of awards granted | 35,000 | 34,450 | 47,000 | |
Value of the restricted stock units on the grant date | 78.71 | $ 78.71 | $ 81.61 | $ 65.94 |
Stock-based compensation expense | $ 2,200 | $ 3,100 | $ 2,500 | |
Restricted stock units earned | 5,973 | |||
Restricted Stock [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of awards granted | 63,462 | 51,795 | 20,667 | |
Value of the restricted stock units on the grant date | 84.61 | $ 84.61 | $ 86.38 | $ 81.52 |
Stock-based compensation expense | $ 400 | $ 400 | $ 100 | |
Share-based compensation arrangement by share-based payment award, shares issued in period | 35,000 | 115,485 | 39,900 | |
Restricted stock units earned | 7,625 | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of awards granted | 488,622 | 344,500 | 364,150 | |
Value of the restricted stock units on the grant date | $ 88.51 | $ 88.51 | $ 86.34 | $ 82.13 |
Stock-based compensation expense | $ 19,100 | $ 12,500 | $ 5,800 | |
Restricted stock units earned | 162,019 | 85,713 | ||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number | 838,327 | 838,327 | 571,462 | 344,750 |
Deferred Stock Units [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Vesting period | 1 year | |||
Number of awards granted | 38,400 | |||
Stock-based compensation expense | $ 1,900 | $ 4,000 | $ 3,500 | |
Restricted stock units earned | 184,099 | |||
Diversified deferred stock awards | 5,000 | 5,000 | ||
Other Acquisitions [Member] | Restricted Stock [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Value of the restricted stock units on the grant date | $ 90.48 | |||
Stock-based compensation expense | $ 1,200 | $ 600 | ||
Share-based compensation arrangement by share-based payment award, shares issued in period | 68,451 | |||
Stock issued during period, value, restricted stock award | $ 6,200 | |||
Apache Design Inc [Member] | Restricted Stock [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 4,700 | |||
Minimum [Member] | Performance Shares [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Vesting period | 1 year | |||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Maximum [Member] | Performance Shares [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Vesting period | 3 years | |||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Vesting period | 4 years |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Stock Options) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Outstanding, beginning of year, Weighted-Average Exercise Price | $ 51.07 | $ 48.76 | $ 44.77 |
Granted, Weighted-Average Exercise Price | 94.38 | 88.10 | 81.09 |
Issued pursuant to acquisitions, Weighted-Average Exercise Price | 0 | 12.26 | 23.26 |
Exercised, Weighted-Average Exercise Price | 45.57 | 40.52 | 31.36 |
Forfeited, Weighted-Average Exercise Price | 72.07 | 70.15 | 61.11 |
Outstanding, end of year, Weighted-Average Exercise Price | 56.37 | 51.07 | 48.76 |
Vested and Exercisable, end of year, Weighted-Average Exercise Price | $ 51.80 | $ 48.29 | $ 44.22 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Outstanding, beginning of year, Options | 3,986 | 4,932 | 6,166 |
Granted, Options | 260 | 57 | 150 |
Issued pursuant to acquisitions, Options | 0 | 8 | 21 |
Exercised, Options | (1,082) | (975) | (1,266) |
Forfeited, Options | (28) | (36) | (139) |
Outstanding, end of year, Options | 3,136 | 3,986 | 4,932 |
Vested and Exercisable, end of year, Options | 2,762 | 3,539 | 3,958 |
Outstanding, Weighted-Average Remaining Contractual Term (in years) | 4 years 7 months 14 days | 4 years 10 months 5 days | 5 years 6 months 12 days |
Vested and Exercisable, Weighted-Average Remaining Contractual Term (in years) | 4 years 15 days | 4 years 6 months 12 days | 5 years |
Outstanding, Aggregate Intrinsic Value | $ 113,822 | $ 165,131 | $ 163,932 |
Vested and Exercisable, Aggregate Intrinsic Value | $ 112,379 | $ 156,487 | $ 149,536 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock-Based Compensation Expense) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense before taxes | $ 33,347 | $ 33,951 | $ 36,861 |
Stock-based compensation expense | 33,347 | 33,951 | 36,861 |
Related income tax benefits | (10,538) | (11,656) | (10,927) |
Stock-based compensation expense, net of taxes | $ 22,809 | $ 22,295 | $ 25,934 |
Basic earnings per share | $ (0.26) | $ (0.25) | $ (0.28) |
Diluted earnings per share | $ (0.26) | $ (0.24) | $ (0.28) |
Software Licenses | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense before taxes | $ 701 | $ 745 | $ 1,776 |
Maintenance And Service [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense before taxes | 1,578 | 1,868 | 2,035 |
Selling, General And Administrative [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense before taxes | 15,990 | 17,153 | 17,073 |
Research And Development [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation expense before taxes | $ 15,078 | $ 14,185 | $ 15,977 |
Stock-Based Compensation (Assum
Stock-Based Compensation (Assumptions To Estimate Fair Value Of Stock Awards) (Details) | 12 Months Ended | ||
Dec. 31, 2016$ / shares | Dec. 31, 2015$ / shares | Dec. 31, 2014$ / shares | |
Stock Option Compensation Expense [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Risk-free interest rate, minimum | 1.19% | 1.18% | 1.49% |
Risk-free interest rate, maximum | 1.93% | 1.65% | 1.76% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected volatility | 24.00% | 25.00% | 35.00% |
Expected term (in years) | 5 years 8 months 7 days | 5 years 7 months 7 days | 5 years 8 months 7 days |
Weighted-average fair value per share | $ 23.96 | $ 30.83 | $ 32.26 |
Restricted Stock Unit Compensation Expense [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected term (in years) | 2 years 9 months 18 days | 2 years 9 months 18 days | 2 years 9 months 18 days |
Risk-free interest rate | 1.00% | 1.10% | 0.70% |
Correlation factor | 0.65 | 0.60 | 0.70 |
Restricted Stock Unit Compensation Expense [Member] | ANSYS Stock Price [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Expected volatility | 21.00% | 23.00% | 25.00% |
Restricted Stock Unit Compensation Expense [Member] | NASDAQ Composite Index [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Expected volatility | 16.00% | 14.00% | 15.00% |
Stock-Based Compensation (Infor
Stock-Based Compensation (Information Regarding Stock Options Outstanding) (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
$5.91 - $40.89 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | $ 5.91 |
Range of Exercise Prices, Upper Limit | $ 40.89 |
Options Outstanding, Options | shares | 874 |
Options Outstanding, Weighted-Average Remaining Contractual Life (years) | 2 years 4 months 5 days |
Options Outstanding, Weighted-Average Exercise Price | $ 34.25 |
Options Exercisable, Options | shares | 868 |
Options Exercisable, Weighted-Average Exercise Price | $ 34.39 |
$41.33 - $58.67 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 41.33 |
Range of Exercise Prices, Upper Limit | $ 58.67 |
Options Outstanding, Options | shares | 1,175 |
Options Outstanding, Weighted-Average Remaining Contractual Life (years) | 4 years 3 months 1 day |
Options Outstanding, Weighted-Average Exercise Price | $ 54.02 |
Options Exercisable, Options | shares | 1,175 |
Options Exercisable, Weighted-Average Exercise Price | $ 54.02 |
$61.68 - $69.70 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 61.68 |
Range of Exercise Prices, Upper Limit | $ 69.7 |
Options Outstanding, Options | shares | 641 |
Options Outstanding, Weighted-Average Remaining Contractual Life (years) | 5 years 8 months 15 days |
Options Outstanding, Weighted-Average Exercise Price | $ 67.38 |
Options Exercisable, Options | shares | 641 |
Options Exercisable, Weighted-Average Exercise Price | $ 67.38 |
$73.45 - $95.09 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of Exercise Prices, Lower Limit | 73.45 |
Range of Exercise Prices, Upper Limit | $ 95.09 |
Options Outstanding, Options | shares | 446 |
Options Outstanding, Weighted-Average Remaining Contractual Life (years) | 8 years 5 months 20 days |
Options Outstanding, Weighted-Average Exercise Price | $ 90.11 |
Options Exercisable, Options | shares | 78 |
Options Exercisable, Weighted-Average Exercise Price | $ 83.78 |
Stock Repurchase Program - Addi
Stock Repurchase Program - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Feb. 17, 2017 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Number of shares repurchased | 3,700,000 | 3,833,000 | 2,977,000 | |
Average price paid per share | $ 90.90 | $ 88.16 | $ 78.54 | |
Total cost | $ 336,335 | $ 337,910 | $ 233,793 | |
Remaining number of shares authorized to be repurchased under stock repurchase program | 1,300,000 | |||
Subsequent Event [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Stock repurchase program, number of shares authorized to be repurchased | 5,000,000 |
Employee Stock Purchase Plan (D
Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, number of shares authorized | 39,800,000 | 39,800,000 | ||
Share-based compensation arrangement by share-based payment award, expiration period | 10 years | |||
Stock-based compensation expense | $ 33,347 | $ 33,951 | $ 36,861 | |
Employee Stock | ANSYS 1996 Employee Stock Purchase Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, number of shares authorized | 1,800,000 | 1,800,000 | ||
Share-based compensation arrangement by share-based payment award, expiration period | 6 months | |||
Share-based compensation arrangement by share-based payment award, maximum employee subscription rate | 10.00% | 10.00% | ||
Maximum number of shares per employee | 3,840 | |||
Maximum employee subscription rate, value | $ 25 | |||
Share-based compensation arrangement by share-based payment award, shares issued in period | 1,400,000 | |||
Stock-based compensation expense | $ 1,200 | $ 1,000 | $ 900 | |
Maximum [Member] | Employee Stock | ANSYS 1996 Employee Stock Purchase Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Eligibility, ownership percentage of voting power of all classes of stock of the company | 5.00% | 5.00% | ||
Purchase price of common stock, percent | 90.00% |
Leases (Details)
Leases (Details) ft² in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)ft² | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Operating Leased Assets [Line Items] | |||
Lease rental expense incurred | $ 16,900 | $ 16,500 | $ 15,800 |
Future minimum lease payments | 65,892 | ||
Future minimum lease payments, Year 1 | 12,516 | ||
Future minimum lease payments, Year 2 | 9,901 | ||
Future minimum lease payments, Year 3 | 9,178 | ||
Future minimum lease payments, Year 4 | 6,961 | ||
Future minimum lease payments, Year 5 | 6,132 | ||
Future minimum lease payments, Thereafter | $ 21,204 | ||
Lease Agreement Effective September 14, 2012 | Canonsburg Office, New Company Headquarters | |||
Operating Leased Assets [Line Items] | |||
Area of real estate property | ft² | 186 | ||
Period of leased property | 183 months | ||
Base rent, years one through five | $ 4,300 | ||
Base rent, years six through ten | 4,500 | ||
Base rent, years eleven through fifteen | 4,700 | ||
Lease rental expense incurred | $ 4,400 | $ 4,400 | 800 |
Amended Lease Agreement Effective January 1, 2004 | Canonsburg Office | |||
Operating Leased Assets [Line Items] | |||
Lease rental expense incurred | $ 1,400 |
Royalty Agreements (Details)
Royalty Agreements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Royalty Agreements [Abstract] | |||
Royalty fees reported in cost of goods sold | $ 13.1 | $ 11.8 | $ 11.5 |
Revenue by Geographic Area (Det
Revenue by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | $ 988,465 | $ 942,753 | $ 936,021 |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 367,937 | 354,433 | 320,327 |
Japan | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 120,160 | 104,299 | 108,757 |
Germany | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 99,814 | 94,546 | 99,714 |
South Korea | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 56,790 | 55,142 | 55,606 |
France | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 49,294 | 49,444 | 58,785 |
Canada | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 13,284 | 13,314 | 14,034 |
Other European | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 139,813 | 145,985 | 159,011 |
Other international | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | $ 141,373 | $ 125,590 | $ 119,787 |
Property and Equipment by Geogr
Property and Equipment by Geographic Area (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net | $ 54,677 | $ 61,924 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net | 43,810 | 47,971 |
Europe | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net | 4,753 | 6,808 |
India | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net | 3,033 | 3,286 |
Other international | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net | $ 3,081 | $ 3,859 |
Unconditional Purchase Obliga81
Unconditional Purchase Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unconditional Purchase Obligations (Excluding Capital Stock Redemptions) [Abstract] | |||
Unconditional purchase obligations, beginning of year | $ 7,200 | $ 5,300 | $ 2,900 |
Future expenditures under purchase obligations, next twelve months | 14,134 | ||
Future expenditures under purchase obligations, year two | 10,288 | ||
Future expenditures under purchase obligations, year three | 9,724 | ||
Future expenditures under purchase obligations, year four | 2,617 | ||
Future expenditures under purchase obligations, year five | 652 | ||
Future expenditures under purchase obligations | $ 37,415 |
Restructuring (Details)
Restructuring (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring charges | $ 2.4 |
Operating Income (Loss) [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring charges | 3.4 |
Minimum [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring, expected cost remaining | 7 |
Minimum [Member] | Operating Income (Loss) [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring, expected cost remaining | 10 |
Maximum [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring, expected cost remaining | 10 |
Maximum [Member] | Operating Income (Loss) [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring, expected cost remaining | $ 15 |
Employment-Related Settlement83
Employment-Related Settlement (Details) $ in Millions | Dec. 31, 2016USD ($) |
Other Liabilities [Abstract] | |
Other liabilities | $ 4.7 |
Contingencies and Commitments -
Contingencies and Commitments - Additional Information (Detail) $ in Millions | Dec. 31, 2016USD ($) |
Maximum [Member] | |
Other Commitments And Contingencies [Line Items] | |
Tax charges and related liabilities if the ruling is unfavorable | $ 7 |
French Research and Development Tax Credit, Denied by Tax Authority [Member] | |
Other Commitments And Contingencies [Line Items] | |
Tax charges and related liabilities if the ruling is unfavorable | 0.8 |
French Research and Development Tax Credit, Claimed Credits with Risk of Denial by Tax Authority [Member] | |
Other Commitments And Contingencies [Line Items] | |
Tax charges and related liabilities if the ruling is unfavorable | $ 3.8 |
Schedule II - Valuation and Q85
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Provisions for doubtful accounts | $ 2,009 | $ 1,304 | $ 2,104 |
Allowance for Doubtful Accounts | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of year | 5,200 | 5,500 | 5,700 |
Provisions for doubtful accounts | 2,009 | 1,304 | 2,104 |
Deductions - returns and write-offs | 1,509 | 1,604 | 2,304 |
Balance at end of year | $ 5,700 | $ 5,200 | $ 5,500 |