Document_and_Entity_Informatio
Document and Entity Information Document | 9 Months Ended | |
Sep. 30, 2013 | Oct. 18, 2013 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | VERISIGN INC/CA | |
Entity Central Index Key | 1014473 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 30-Sep-13 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 137,052,343 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $117,591 | $130,736 |
Marketable securities | 1,689,223 | 1,425,700 |
Accounts receivable, net | 14,823 | 11,477 |
Deferred Tax Assets | 253 | 44,756 |
Prepaid expenses and other current assets | 39,853 | 30,795 |
Total current assets | 1,861,743 | 1,643,464 |
Property and equipment, net | 337,785 | 333,861 |
Goodwill | 52,527 | 52,527 |
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | 48,391 | 7,299 |
Other long-term assets | 29,505 | 25,325 |
Total long-term assets | 468,208 | 419,012 |
Total assets | 2,329,951 | 2,062,476 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 145,426 | 130,391 |
Deferred revenues | 597,033 | 564,627 |
Convertible Debentures, including contingent interest derivative | 613,751 | 0 |
Deferred Tax Liabilities, Net, Current | 407,860 | 0 |
Total current liabilities | 1,764,070 | 695,018 |
Long-term deferred revenues | 260,963 | 247,955 |
Senior Notes | 750,000 | 0 |
Convertible debentures, including contingent interest derivative | 0 | 597,614 |
Credit facility | 0 | 100,000 |
Long-term deferred tax liabilities | 3,832 | 386,914 |
Other long-term liabilities | 44,903 | 44,298 |
Total long-term liabilities | 1,059,698 | 1,376,781 |
Total liabilities | 2,823,768 | 2,071,799 |
Commitments and contingencies | ||
Stockholders' deficit: | ||
Preferred stock-par value $.001 per share; Authorized shares: 5,000; Issued and outstanding shares: none | 0 | 0 |
Common stock-par value $.001 per share; Authorized shares: 1,000,000; Issued shares: 320,177 at September 30, 2013 and 318,722 at December 31, 2012; Outstanding shares: 137,654 at September 30, 2013 and 153,392 at December 31, 2012 | 320 | 319 |
Additional paid-in capital | 19,157,314 | 19,891,291 |
Accumulated deficit | -19,648,244 | -19,900,545 |
Accumulated other comprehensive loss | -3,207 | -388 |
Total stockholders' deficit | -493,817 | -9,323 |
Total liabilities and stockholders' deficit | $2,329,951 | $2,062,476 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, authorized shares | 5,000 | 5,000 |
Preferred stock, issued shares | 0 | 0 |
Preferred stock, outstanding shares | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, authorized shares | 1,000,000 | 1,000,000 |
Common Stock, Shares, Issued | 320,177 | 318,722 |
Common stock, outstanding shares | 137,654 | 153,392 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ||||
Revenues | $243,678 | $223,528 | $719,457 | $643,396 |
Costs and expenses: | ||||
Cost of revenues | 46,554 | 41,460 | 140,438 | 125,560 |
Sales and marketing | 22,900 | 22,928 | 64,273 | 77,056 |
Research and development | 17,456 | 15,409 | 52,531 | 45,635 |
General and administrative | 24,055 | 27,669 | 64,157 | 73,903 |
Restructuring charges | 0 | 0 | 0 | -730 |
Total costs and expenses | 110,965 | 107,466 | 321,399 | 321,424 |
Operating income | 132,713 | 116,062 | 398,058 | 321,972 |
Interest expense | -21,119 | -12,619 | -53,524 | -37,539 |
Non-operating income (loss), net | -4,592 | -1,742 | -4,208 | -3,032 |
Income from continuing operations before income taxes | 107,002 | 101,701 | 340,326 | 281,401 |
Income tax expense | -26,104 | -24,882 | -88,025 | -70,005 |
Income from continuing operations, net of tax | 80,898 | 76,819 | 252,301 | 211,396 |
Income (loss) from discontinued operations, net of tax | 0 | 1,091 | 0 | 2,995 |
Net income | 80,898 | 77,910 | 252,301 | 214,391 |
Change in unrealized gain on investments, net of tax | 85 | 2,499 | -341 | 2,536 |
Realized gain on investments, net of tax, included in net income | 1 | -20 | -2,478 | -55 |
Other comprehensive income (loss) | 86 | 2,479 | -2,819 | 2,481 |
Comprehensive income | $80,984 | $80,389 | $249,482 | $216,872 |
Basic income (loss) per share | ||||
Continuing operations | $0.57 | $0.49 | $1.71 | $1.34 |
Discontinued operations | $0 | $0.01 | $0 | $0.02 |
Net income | $0.57 | $0.50 | $1.71 | $1.36 |
Diluted income (loss) per share | ||||
Continuing operations | $0.53 | $0.46 | $1.60 | $1.28 |
Discontinued operations | $0 | $0.01 | $0 | $0.02 |
Net income | $0.53 | $0.47 | $1.60 | $1.30 |
Shares used to compute net income per share | ||||
Basic | 141,701 | 156,261 | 147,567 | 157,729 |
Diluted | 152,951 | 166,575 | 157,606 | 164,540 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ||
Net income | $252,301 | $214,391 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of property and equipment and amortization of other intangible assets | 45,415 | 39,652 |
Stock-based compensation | 27,006 | 26,391 |
Excess tax benefit associated with stock-based compensation | -30,095 | -20,765 |
Deferred Income Taxes | 29,000 | 34,310 |
Other, net | 17,577 | 15,650 |
Changes in operating assets and liabilities | ||
Accounts receivable | -3,525 | 3,602 |
Prepaid expenses and other assets | 1,679 | 5,081 |
Accounts payable and accrued liabilities | 47,185 | -31,515 |
Deferred revenues | 45,414 | 80,074 |
Net cash provided by operating activities | 431,957 | 366,871 |
Cash flows from investing activities: | ||
Proceeds from maturities and sales of marketable securities | 2,253,776 | 393,677 |
Purchases of marketable securities | -2,516,714 | -1,579,234 |
Purchases of property and equipment | -50,201 | -39,868 |
Other investing activities | -3,946 | -638 |
Net cash used in investing activities | -317,085 | -1,226,063 |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock from option exercises and employee stock purchase plans | 16,661 | 26,573 |
Repurchases of common stock | -810,067 | -231,391 |
Repayments of borrowings | 100,000 | 0 |
Proceeds from Issuance of Senior Notes, net of issuance costs | 738,297 | 0 |
Excess tax benefit associated with stock-based compensation | 30,095 | 20,765 |
Other financing activities | 0 | 189 |
Net cash used in financing activities | -125,014 | -183,864 |
Effect of exchange rate changes on cash and cash equivalents | -3,003 | 162 |
Net decrease in cash and cash equivalents | -13,145 | -1,042,894 |
Cash and cash equivalents at beginning of period | 130,736 | 1,313,349 |
Cash and cash equivalents at end of period | 117,591 | 270,455 |
Supplemental cash flow disclosures: | ||
Cash paid for interest, net of capitalized interest | 40,435 | 40,829 |
Cash paid for income taxes, net of refunds received | $17,055 | $19,975 |
Basis_Of_Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation | Basis of Presentation |
Interim Financial Statements | |
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by VeriSign, Inc. (“Verisign” or the “Company”) in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, do not include all information and notes normally provided in audited financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and other adjustments) considered necessary for a fair presentation have been included. The results of operations for any interim period are not necessarily indicative of, nor comparable to, the results of operations for any other interim period or for a full fiscal year. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes contained in Verisign’s fiscal 2012 Annual Report on Form 10-K (the “2012 Form 10-K”) filed with the SEC on February 28, 2013. | |
Reclassifications | |
Certain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on net income as previously reported. |
Cash_Cash_Equivalents_And_Mark
Cash, Cash Equivalents, And Marketable Securities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Cash, Cash Equivalents And Marketable Securities [Abstract] | ||||||||
Cash, Cash Equivalents, And Marketable Securities | Cash, Cash Equivalents, and Marketable Securities | |||||||
The following table summarizes the Company’s cash, cash equivalents, and marketable securities: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Cash | $ | 53,014 | $ | 63,578 | ||||
Money market funds | 13,435 | 38,054 | ||||||
Time deposits | 4,597 | 3,614 | ||||||
Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 1,744,223 | 1,452,358 | ||||||
Equity securities of a public company | — | 3,341 | ||||||
Total | $ | 1,815,269 | $ | 1,560,945 | ||||
Included in Cash and cash equivalents | $ | 117,591 | $ | 130,736 | ||||
Included in Marketable securities | $ | 1,689,223 | $ | 1,425,700 | ||||
Included in Other long-term assets (Restricted cash) | $ | 8,455 | $ | 4,509 | ||||
The fair value of the debt securities held as of September 30, 2013 was $1.7 billion, including $0.1 million of gross and net unrealized gains. During the three months ended September 30, 2013, the Company sold its debt securities with maturities in excess of one year. All of the debt securities held as of September 30, 2013 are scheduled to mature in less than one year. |
Fair_Value_Of_Financial_Instru
Fair Value Of Financial Instruments | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value Of Financial Instruments | Fair Value of Financial Instruments | |||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | ||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||
Total Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
(In thousands) | ||||||||||||||||
As of September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Investments in money market funds | $ | 13,435 | $ | 13,435 | $ | — | $ | — | ||||||||
Debt securities issued by the U.S. Treasury | 1,744,223 | 1,744,223 | — | — | ||||||||||||
Foreign currency forward contracts (1) | 315 | — | 315 | — | ||||||||||||
Total | $ | 1,757,973 | $ | 1,757,658 | $ | 315 | $ | — | ||||||||
Liabilities: | ||||||||||||||||
Contingent interest derivative on the Subordinated Convertible Debentures | $ | 20,926 | $ | — | $ | — | $ | 20,926 | ||||||||
Foreign currency forward contracts (2) | 304 | — | 304 | — | ||||||||||||
Total | $ | 21,230 | $ | — | $ | 304 | $ | 20,926 | ||||||||
As of December 31, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Investments in money market funds | $ | 38,054 | $ | 38,054 | $ | — | $ | — | ||||||||
Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 1,452,358 | 1,419,280 | 33,078 | — | ||||||||||||
Equity securities of public company | 3,341 | — | 3,341 | — | ||||||||||||
Foreign currency forward contracts (1) | 71 | — | 71 | — | ||||||||||||
Total | $ | 1,493,824 | $ | 1,457,334 | $ | 36,490 | $ | — | ||||||||
Liabilities: | ||||||||||||||||
Contingent interest derivative on the Subordinated Convertible Debentures | $ | 11,203 | $ | — | $ | — | $ | 11,203 | ||||||||
Foreign currency forward contracts (2) | 765 | — | 765 | — | ||||||||||||
Total | $ | 11,968 | $ | — | $ | 765 | $ | 11,203 | ||||||||
-1 | Included in Prepaid expenses and other current assets | |||||||||||||||
-2 | Included in Accounts payable and accrued liabilities | |||||||||||||||
The fair value of the Company’s investments in money market funds approximates their face value. Such instruments are classified as Level 1 and are included in Cash and cash equivalents. | ||||||||||||||||
The fair value of the debt securities consisting of U.S. Treasury bills is based on their quoted market prices and are classified as Level 1. The fair value of the Company’s investments in other debt securities are obtained using the weighted average of available market prices for the underlying securities from various industry standard data providers, large financial institutions and other third-party sources and are classified as Level 2. Debt securities purchased with original maturities in excess of three months are included in Marketable securities. | ||||||||||||||||
The fair value of the Company’s foreign currency forward contracts is based on foreign currency rates quoted by banks or foreign currency dealers and other public data sources. | ||||||||||||||||
The Company utilizes a valuation model to estimate the fair value of the contingent interest derivative on the subordinated convertible debentures due 2037 (“the Subordinated Convertible Debentures”). The inputs to the model include stock price, bond price, risk adjusted interest rates, volatility, and credit spread observations. As several significant inputs are not observable, the overall fair value measurement of the derivative is classified as Level 3. The volatility and credit spread assumptions used in the calculation are the most significant unobservable inputs. As of September 30, 2013, the valuation of the contingent interest derivative assumed a volatility rate of approximately 26%. A hypothetical 5% increase or decrease in the volatility rate would not significantly change the fair value of the contingent interest derivative. The credit spread assumed in the valuation was approximately 5% at September 30, 2013. A hypothetical 1% increase or decrease in the credit spread would not significantly change the fair value of the contingent interest derivative. | ||||||||||||||||
The following table summarizes the change in the fair value of the Company’s contingent interest derivative on the Subordinated Convertible Debentures during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Beginning balance | $ | 15,640 | $ | 15,585 | $ | 11,203 | $ | 11,625 | ||||||||
Unrealized loss on contingent interest derivative on the Subordinated Convertible Debentures | 5,286 | 3,167 | 9,723 | 7,127 | ||||||||||||
Ending balance | $ | 20,926 | $ | 18,752 | $ | 20,926 | $ | 18,752 | ||||||||
Other | ||||||||||||||||
The Company’s other financial instruments include cash, accounts receivable, restricted cash, and accounts payable. As of September 30, 2013, the carrying value of these financial instruments approximated their fair value. The fair values of the Company’s Subordinated Convertible Debentures and the senior notes due 2023 (the “Senior Notes”) as of September 30, 2013, are $2.0 billion and $704.5 million, respectively, and are based on available market information from public data sources. The fair value measurement of the Company’s Subordinated Convertible Debentures and the Senior Notes are classified as Level 2. |
Other_Balance_Sheet_Items
Other Balance Sheet Items | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ||||||||
Other Balance Sheet Items | Other Balance Sheet Items | |||||||
Prepaid Expenses and Other Current Assets | ||||||||
Prepaid expenses and other current assets consist of the following: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Prepaid expenses | $ | 13,941 | $ | 15,413 | ||||
Income tax and other receivables | 14,602 | 15,056 | ||||||
Debt issuance costs | 10,737 | — | ||||||
Other | 573 | 326 | ||||||
Total prepaid expenses and other current assets | $ | 39,853 | $ | 30,795 | ||||
Other Long-Term Assets | ||||||||
Other long-term assets consist of the following: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Other tax receivable | $ | 5,811 | $ | 5,811 | ||||
Long-term investments | 413 | 413 | ||||||
Debt issuance costs | 11,983 | 11,516 | ||||||
Long-term restricted cash | 8,455 | 4,509 | ||||||
Prepaid expenses and deposits | 2,843 | 3,076 | ||||||
Total other long-term assets | $ | 29,505 | $ | 25,325 | ||||
Unamortized debt issuance costs related to the Senior Notes were $11.4 million and are included in Other long-term assets as of September 30, 2013. Debt issuance costs related to the Company’s Subordinated Convertible Debentures were reclassified to Prepaid expenses and other current assets from Other long-term assets during the nine months ended September 30, 2013, as the related Subordinated Convertible Debentures were reclassified from long-term liabilities to current liabilities due to the fact that they are convertible at the option of each holder through December 31, 2013. Refer to Note 8, “Debt and Interest Expense” for further discussion of the Senior Notes and Subordinated Convertible Debentures. | ||||||||
Accounts Payable and Accrued Liabilities | ||||||||
Accounts payable and accrued liabilities consist of the following: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accounts payable | $ | 23,986 | $ | 23,519 | ||||
Accrued employee compensation | 40,827 | 38,778 | ||||||
Customer deposits, net | 19,495 | 19,321 | ||||||
Taxes payable and other tax liabilities | 25,322 | 21,918 | ||||||
Other accrued liabilities | 35,796 | 26,855 | ||||||
Total accounts payable and accrued liabilities | $ | 145,426 | $ | 130,391 | ||||
Accrued employee compensation primarily consists of liabilities for employee leave, salaries, payroll taxes, employee contributions to the employee stock purchase plan, and incentive compensation. Accrued employee incentive compensation as of December 31, 2012, was paid during the nine months ended September 30, 2013. Other accrued liabilities include miscellaneous vendor payables, interest on the Subordinated Convertible Debentures which is paid semi-annually in arrears on August 15 and February 15, and interest on the Senior Notes which is paid semi-annually in arrears on May 1 and November 1. |
Stockholders_Deficit
Stockholders' Deficit | 9 Months Ended |
Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' (Deficit) Equity | Stockholders’ Deficit |
On July 24, 2013, the Company’s Board of Directors authorized the repurchase of up to $518.7 million of common stock, in addition to the $481.3 million of its common stock remaining available for repurchase under the previous 2012 Share Buyback Program, for a total repurchase authorization of up to $1.0 billion of its common stock (collectively, the “2013 Share Buyback Program”). The 2013 Share Buyback Program has no expiration date. Purchases made under the 2013 Share Buyback Program could be effected through open market transactions, block purchases, accelerated share repurchase agreements or other negotiated transactions. During the three and nine months ended September 30, 2013 the Company repurchased 6.8 million and 16.9 million shares of its common stock, respectively, at an average stock price of $48.87 and $47.14, respectively. The aggregate cost of the repurchases under these programs in the three and nine months ended September 30, 2013 was $331.3 million and $797.1 million, respectively. As of September 30, 2013, $697.1 million remained available for further repurchases under the 2013 Share Buyback Program. | |
During the nine months ended September 30, 2013, the Company placed 0.3 million shares, at an average stock price of $45.68 and for an aggregate cost of $13.0 million, into treasury stock for purposes related to tax withholdings upon vesting of Restricted Stock Units (“RSUs”). | |
Since inception the Company has repurchased 182.5 million shares of its common stock for an aggregate cost of $5.7 billion, which is presented as a reduction of Additional paid-in capital. |
Calculation_Of_Net_Income_Per_
Calculation Of Net Income Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Calculation Of Net Income Per Share Attributable To Verisign Stockholders | Calculation of Net Income per Share | |||||||||||||||
The Company computes basic net income per share by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share gives effect to dilutive potential common shares, including the conversion spread relating to the Subordinated Convertible Debentures, unvested RSUs, outstanding stock options, and employee stock purchases, using the treasury stock method. The following table presents the computation of weighted-average shares used in the calculation of basic and diluted net income per share: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Weighted-average shares of common stock outstanding | 141,701 | 156,261 | 147,567 | 157,729 | ||||||||||||
Weighted-average potential shares of common stock outstanding: | ||||||||||||||||
Conversion spread related to the Subordinated Convertible Debentures | 10,480 | 9,232 | 9,258 | 5,803 | ||||||||||||
Unvested RSUs | 669 | 806 | 664 | 744 | ||||||||||||
Stock options | 94 | 182 | 98 | 191 | ||||||||||||
Employee stock purchase plan | 7 | 94 | 19 | 73 | ||||||||||||
Shares used to compute diluted net income per share | 152,951 | 166,575 | 157,606 | 164,540 | ||||||||||||
The following table presents the weighted-average potential shares of common stock that were excluded from the above calculation because their effect was anti-dilutive, and the respective weighted-average exercise prices of the weighted-average stock options outstanding: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Weighted-average stock options outstanding | — | — | — | 39 | ||||||||||||
Weighted-average exercise price | $ | — | $ | — | $ | — | $ | 40.81 | ||||||||
Weighted-average RSUs outstanding | 1 | 13 | 101 | 6 | ||||||||||||
Employee stock purchase plan | 454 | 86 | 198 | 69 | ||||||||||||
Performance based RSUs granted by the Company are excluded from the above calculation of diluted weighted average shares outstanding until the relevant performance criteria are achieved. There were less than 0.2 million such shares excluded from the calculation for each of the periods presented. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Share-based Compensation [Abstract] | ||||||||||||||||
Stock-Based Compensation | Stock-based Compensation | |||||||||||||||
Stock-based compensation is classified in the Condensed Consolidated Statements of Comprehensive Income in the same expense line items as cash compensation. The following table presents the classification of stock-based compensation: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Cost of revenues | $ | 1,524 | $ | 1,491 | $ | 4,639 | $ | 4,479 | ||||||||
Sales and marketing | 1,442 | 1,697 | 4,656 | 5,046 | ||||||||||||
Research and development | 1,674 | 1,622 | 5,314 | 4,191 | ||||||||||||
General and administrative | 5,937 | 4,997 | 12,397 | 12,675 | ||||||||||||
Total stock-based compensation expense | $ | 10,577 | $ | 9,807 | $ | 27,006 | $ | 26,391 | ||||||||
The following table presents the nature of the Company’s total stock-based compensation: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
RSUs | $ | 10,202 | $ | 9,062 | $ | 24,892 | $ | 24,297 | ||||||||
Employee stock purchase plan | 1,130 | 1,253 | 4,262 | 3,361 | ||||||||||||
Stock options | — | 193 | 180 | 829 | ||||||||||||
Capitalization (Included in Property and equipment, net) | (755 | ) | (701 | ) | (2,328 | ) | (2,096 | ) | ||||||||
Total stock-based compensation expense | $ | 10,577 | $ | 9,807 | $ | 27,006 | $ | 26,391 | ||||||||
Debt_and_Interest_Expense
Debt and Interest Expense | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Interest Expense [Abstract] | ||||||||||||||||
Interest Expense | Debt and Interest Expense | |||||||||||||||
Senior Notes due 2023 | ||||||||||||||||
On April 16, 2013, the Company issued $750.0 million principal amount of 4.625% senior notes due May 1, 2023 at an issue price of 100%. The Senior Notes were issued pursuant to an indenture, dated as of April 16, 2013 (the “Indenture”), among the Company, each of the subsidiary guarantors party thereto and U.S. Bank National Association. The Indenture provides that the Senior Notes are general unsecured obligations of the Company. VeriSign Information Services, Inc. which was previously the sole guarantor of the Senior Notes at the time of issuance, was merged with VeriSign Inc. during the third quarter of 2013. The Company’s Restricted Subsidiaries (as defined in the Indenture) may be required to guarantee the Senior Notes if they incur or guarantee certain indebtedness. The Company used a portion of the net proceeds from the sale of the Senior Notes to repay in full the $100.0 million of outstanding indebtedness under its unsecured credit facility (“Unsecured Credit Facility”) and to pay accrued and unpaid interest thereunder. The Company has used the remaining amount of the net proceeds for general corporate purposes, including, but not limited to, the repurchase of shares under its share repurchase program. In connection with the offering the Company incurred $12.0 million of issuance costs which were deferred and included in Other long-term assets. The issuance costs are being amortized to Interest expense over the 10 year term of the Senior Notes. | ||||||||||||||||
The Company will pay interest on the Senior Notes at 4.625% per annum, semi-annually on May 1 and November 1, commencing on November 1, 2013. The Company may redeem all or a portion of the Senior Notes at any time prior to May 1, 2018 at a price equal to 100% of the principal amount of the Senior Notes plus a make-whole premium, plus accrued and unpaid interest, if any, to the redemption date. In addition, on or before May 1, 2018, the Company may redeem up to 35% of the aggregate principal amount of the Senior Notes with the net proceeds of certain equity offerings at a redemption price of 104.625% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, subject to compliance with certain conditions. The Company may redeem all or a portion of the Senior Notes at any time on or after May 1, 2018 at the applicable redemption prices set forth in the Indenture plus accrued and unpaid interest, if any, to the redemption date. If the Company experiences specific kinds of changes in control and if the Senior Notes are rated below investment grade by both rating agencies that rate the Senior Notes, the Company will be required to make an offer to purchase the Senior Notes at a price equal to 101% of the principal amount of the Senior Notes, plus accrued and unpaid interest, if any, to the date of purchase. | ||||||||||||||||
The Indenture contains covenants that limit the ability of the Company and/or its Restricted Subsidiaries, under certain circumstances, to, among other things: (i) pay dividends or make distributions on, or redeem or repurchase, its capital stock; (ii) make certain investments; (iii) create liens on assets; (iv) enter into sale/leaseback transactions and (v) merge or consolidate or sell all or substantially all of its assets. These covenants are subject to a number of important limitations and exceptions. The Indenture also provides for events of default, which, if any of them occurs, may permit or, in certain circumstances, require the principal, premium, if any, accrued and unpaid interest and any other monetary obligations on all the then outstanding Notes to be due and payable immediately. | ||||||||||||||||
On April 16, 2013, the Company, and VeriSign Information Services, Inc., which was previously the sole guarantor of the Senior Notes at the time of issuance, entered into a registration rights agreement (the “Registration Rights Agreement”) with the Initial Purchasers that provided holders of the Senior Notes certain rights relating to registration of the Senior Notes under the Securities Act of 1933, as amended (the “Securities Act”). | ||||||||||||||||
In October 2013, the Company completed an exchange offer for all of its outstanding 4.625% Senior Notes due May 1, 2023, which were not registered under the Securities Act, for an equal principal amount of its 4.625% Senior Notes due May 1, 2023, which have been registered under the Securities Act on an effective exchange offer registration statement filed by the Company pursuant to the Registration Rights Agreement. | ||||||||||||||||
Subordinated Convertible Debentures | ||||||||||||||||
In August 2007, Verisign issued $1.25 billion principal amount of 3.25% subordinated convertible debentures due August 15, 2037, in a private offering. The Subordinated Convertible Debentures are initially convertible, subject to certain conditions, into shares of the Company’s common stock at a conversion rate of 29.0968 shares of common stock per $1,000 principal amount of Subordinated Convertible Debentures, representing an initial effective conversion price of approximately $34.37 per share of common stock. | ||||||||||||||||
Holders of the debentures may convert their Subordinated Convertible Debentures at the applicable conversion rate, in multiples of $1,000 principal amount, only under the following circumstances: | ||||||||||||||||
• | during any fiscal quarter beginning after December 31, 2007, if the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the applicable conversion price in effect on the last trading day of such preceding fiscal quarter (the “Conversion Price Threshold Trigger”), which currently is $44.68; | |||||||||||||||
• | during the five business-day period after any 10 consecutive trading-day period in which the trading price per $1,000 principal amount of Subordinated Convertible Debentures for each day of that 10 consecutive trading-day period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on such day; | |||||||||||||||
• | if the Company calls any or all of the Subordinated Convertible Debentures for redemption pursuant to the terms of the Indenture, at any time prior to the close of business on the trading day immediately preceding the redemption date; | |||||||||||||||
• | upon the occurrence of any of several specified corporate transactions as specified in the Indenture governing the Subordinated Convertible Debentures; or | |||||||||||||||
• | at any time on or after May 15, 2037, and prior to the maturity date. | |||||||||||||||
The Company’s common stock price again exceeded the Conversion Price Threshold Trigger in the third quarter of 2013. Accordingly, the Subordinated Convertible Debentures are convertible at the option of each holder through December 31, 2013. Further, in the event of conversion, the Company intends, and has the ability, to settle the principal amount of the Subordinated Convertible Debentures in cash, and therefore, has classified the debt component of the Subordinated Convertible Debentures and the embedded contingent interest derivative as current liabilities as of September 30, 2013. On a quarterly basis, the Company must make a determination of whether or not the Subordinated Convertible Debentures are convertible, and accordingly, assess the classification of the related liabilities and assets as long-term or current. | ||||||||||||||||
2011 Credit Facility | ||||||||||||||||
In April 2013, the Company repaid the $100.0 million of borrowings that were outstanding under the 2011 Credit Facility using proceeds from the issuance of the Senior Notes. The 2011 Credit Facility remains open and has an available borrowing capacity of $200.0 million. | ||||||||||||||||
Interest Expense | ||||||||||||||||
The following table presents the components of the Company’s interest expense: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Contractual interest on the Subordinated Convertible Debentures | $ | 10,156 | $ | 10,156 | $ | 30,469 | $ | 30,469 | ||||||||
Contractual interest on Senior Notes | 8,672 | — | 15,899 | — | ||||||||||||
Amortization of debt discount on the Subordinated Convertible Debentures | 2,189 | 2,017 | 6,435 | 5,927 | ||||||||||||
Credit facility and amortization of debt issuance costs | 443 | 637 | 1,623 | 1,898 | ||||||||||||
Interest capitalized to Property and equipment, net | (341 | ) | (191 | ) | (902 | ) | (755 | ) | ||||||||
Total interest expense | $ | 21,119 | $ | 12,619 | $ | 53,524 | $ | 37,539 | ||||||||
Nonoperating_loss_income
Non-operating (loss) income | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Non-operating (loss) income, net [Abstract] | ||||||||||||||||
Other Income and Other Expense Disclosure [Text Block] | Non-operating Loss, Net | |||||||||||||||
The following table presents the components of Non-operating loss, net: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Interest and dividend income | $ | 320 | $ | 643 | $ | 1,583 | $ | 1,548 | ||||||||
Unrealized loss on contingent interest derivative on Subordinated Convertible Debentures | (5,286 | ) | (3,167 | ) | (9,723 | ) | (7,127 | ) | ||||||||
Income from transition services agreements | — | 362 | — | 2,541 | ||||||||||||
Realized net (loss) gain on investments | (2 | ) | 34 | 3,049 | 68 | |||||||||||
Other, net | 376 | 386 | 883 | (62 | ) | |||||||||||
Total non-operating loss, net | $ | (4,592 | ) | $ | (1,742 | ) | $ | (4,208 | ) | $ | (3,032 | ) | ||||
Interest and dividend income is earned principally from the Company’s surplus cash balances and marketable securities. Unrealized loss on the contingent interest derivative on the Subordinated Convertible Debentures reflects the change in value of the derivative that results primarily from changes in the Company’s stock price. Income from transition services agreements includes fees generated from services provided to the purchasers of divested businesses for a certain period of time to facilitate the transfer of business operations. All transition services were completed in 2012. Realized net gain on investments in the nine months ended September 30, 2013 includes a $3.0 million gain on the sale of an investment in the equity securities of a public company. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||
Income Taxes | Income Taxes | |||||||||||||||
The following table presents income tax expense from continuing operations and the effective tax rate: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Dollars in thousands) | ||||||||||||||||
Income tax expense from continuing operations | $ | 26,104 | $ | 24,882 | $ | 88,025 | $ | 70,005 | ||||||||
Effective tax rate | 24 | % | 24 | % | 26 | % | 25 | % | ||||||||
The effective tax rate for the three and nine months ended September 30, 2013 and 2012 is lower than the statutory federal rate of 35% primarily due to tax benefits from foreign income taxed at lower rates, partially offset by state income taxes and non-deductible stock-based compensation. | ||||||||||||||||
As a result of the reclassification of the Company’s Subordinated Convertible Debentures to current liabilities, the Company reclassified the related deferred tax liability to current liabilities during the nine months ended September 30, 2013. Accordingly, for the U.S. federal and state tax jurisdictions, this resulted in a shift from a net current deferred tax asset position to a net current deferred tax liability position and from a net long-term deferred tax liability position to a net long-term deferred tax asset position as of September 30, 2013. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | Contingencies |
Legal Proceedings | |
On March 5, 2012, a complaint entitled Warhanek v. Bidzos, et al., No. 12-263-RGA, was filed in the United States District Court for the District of Delaware. The complaint asserts derivative claims on behalf of Verisign against current directors D. James Bidzos, William L. Chenevich, Roger H. Moore, Kathleen A. Cote, John D. Roach, Louis A. Simpson, Timothy Tomlinson and a former director, President and Chief Executive Officer Mark D. McLaughlin (the “Director Defendants”). The complaint also asserts one derivative claim against officers and certain former officers Richard H. Goshorn, Christine C. Brennan, and Kevin A. Werner (the “Executive Defendants,” and together with the Director Defendants and nominal defendant Verisign, the “Defendants”). | |
The complaint alleges that the Director Defendants fraudulently obtained shareholder approval of certain incentive-based compensation plans by misrepresenting the tax deductibility of certain compensation paid to Verisign’s executive officers, including the Executive Defendants. Verisign adopted and obtained shareholder approval of several incentive-based compensation plans, including a 2010 Annual Incentive Compensation Plan (“AICP”), and an Amended and Restated VeriSign, Inc. 2006 Equity Incentive Plan (“2006 Plan”) and these plans were submitted to shareholders for approval in the 2010 and 2011 Proxy Statements (the “Prior Proxy Statements”), respectively. The complaint alleges that the Prior Proxy Statements falsely disclosed, or failed to adequately disclose, the material terms under which performance-based compensation would be paid under the AICP and the 2006 Plan. The complaint further alleges that the Prior Proxy Statements falsely represented that certain compensation paid to certain employees in excess of $1 million would be tax deductible. | |
The complaint asserts derivative claims against the Director Defendants for (1) violations of Section 14(a) of the Exchange Act for making false statements in and omitting material facts from the Prior Proxy Statements; (2) breach of fiduciary duty; and (3) waste of corporate assets. The complaint asserts an additional derivative claim against the Director Defendants and Executive Defendants for unjust enrichment based on compensation payments they received under the AICP or the 2006 Plan, as disclosed in the Prior Proxy Statements. No demand was made on the Board to institute this action, and the complaint alleges that any such demand would be futile because each director is either interested or lacks independence with respect to the challenges to the AICP and 2006 Plan. The relief sought by the complaint includes, among other things, an order nullifying the shareholder approval of the AICP and the 2006 Plan, an injunction requiring correction of the alleged misrepresentations in the Company’s Prior Proxy Statements, and an order requiring equitable accounting, with disgorgement, in favor of the Company for the purported losses it has and will sustain. On May 25, 2012, the defendants filed motions to dismiss this action in its entirety. Oral arguments on the motions to dismiss took place on November 16, 2012. On September 18, 2013, the Magistrate Judge issued a Report and Recommendation recommending that the motions to dismiss be granted and that the plaintiff be permitted leave to amend the complaint. Thereafter, on October 17, 2013, plaintiff filed a Notice of Voluntary Dismissal. On October 22, 2013, the Court issued an order holding the dismissal in abeyance and stating that the dismissal would be granted (without prejudice) twenty-one days after notice is made public if no shareholder intervenes. | |
Indemnifications | |
In connection with the sale of the Authentication Services business to Symantec in August 2010, the Company has agreed to indemnify Symantec for certain potential legal claims arising from the operation of the Authentication Services business for a period of sixty months after the closing of the sale transaction. The Company’s indemnification obligations in this regard are triggered only when indemnifiable claims exceed in the aggregate $4.0 million. Thereafter, the Company is obligated to indemnify Symantec for 50% of all indemnifiable claims. The Company’s maximum indemnification obligation with respect to these claims is capped at $50.0 million. | |
While certain legal proceedings and related indemnification obligations to which the Company is a party specify the amounts claimed, such claims may not represent reasonably possible losses. Given the inherent uncertainties of the litigation, the ultimate outcome of these matters cannot be predicted at this time, nor can the amount of possible loss or range of loss, if any, be reasonably estimated, except in circumstances where an aggregate litigation accrual has been recorded for probable and reasonably estimable loss contingencies. A determination of the amount of accrual required, if any, for these contingencies is made after careful analysis of each matter. The required accrual may change in the future due to new developments in each matter or changes in approach such as a change in settlement strategy in dealing with these matters. The Company does not believe that any such matter currently being reviewed will have a material adverse effect on its financial condition, results of operations, or cash flows. | |
Verisign is involved in various other investigations, claims and lawsuits arising in the normal conduct of its business, none of which, in its opinion, will have a material adverse effect on its financial condition, results of operations, or cash flows. The Company cannot assure you that it will prevail in any litigation. Regardless of the outcome, any litigation may require the Company to incur significant litigation expense and may result in significant diversion of management attention. |
Cash_Cash_Equivalents_And_Mark1
Cash, Cash Equivalents, And Marketable Securities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Cash, Cash Equivalents And Marketable Securities [Abstract] | ||||||||
Cash, Cash Equivalents, And Marketable Securities | The following table summarizes the Company’s cash, cash equivalents, and marketable securities: | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Cash | $ | 53,014 | $ | 63,578 | ||||
Money market funds | 13,435 | 38,054 | ||||||
Time deposits | 4,597 | 3,614 | ||||||
Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 1,744,223 | 1,452,358 | ||||||
Equity securities of a public company | — | 3,341 | ||||||
Total | $ | 1,815,269 | $ | 1,560,945 | ||||
Included in Cash and cash equivalents | $ | 117,591 | $ | 130,736 | ||||
Included in Marketable securities | $ | 1,689,223 | $ | 1,425,700 | ||||
Included in Other long-term assets (Restricted cash) | $ | 8,455 | $ | 4,509 | ||||
Fair_Value_Of_Financial_Instru1
Fair Value Of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value, Assets And Liabilities Measured On Recurring Basis | The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | |||||||||||||||
Fair Value Measurement Using | ||||||||||||||||
Total Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
(In thousands) | ||||||||||||||||
As of September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Investments in money market funds | $ | 13,435 | $ | 13,435 | $ | — | $ | — | ||||||||
Debt securities issued by the U.S. Treasury | 1,744,223 | 1,744,223 | — | — | ||||||||||||
Foreign currency forward contracts (1) | 315 | — | 315 | — | ||||||||||||
Total | $ | 1,757,973 | $ | 1,757,658 | $ | 315 | $ | — | ||||||||
Liabilities: | ||||||||||||||||
Contingent interest derivative on the Subordinated Convertible Debentures | $ | 20,926 | $ | — | $ | — | $ | 20,926 | ||||||||
Foreign currency forward contracts (2) | 304 | — | 304 | — | ||||||||||||
Total | $ | 21,230 | $ | — | $ | 304 | $ | 20,926 | ||||||||
As of December 31, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Investments in money market funds | $ | 38,054 | $ | 38,054 | $ | — | $ | — | ||||||||
Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies | 1,452,358 | 1,419,280 | 33,078 | — | ||||||||||||
Equity securities of public company | 3,341 | — | 3,341 | — | ||||||||||||
Foreign currency forward contracts (1) | 71 | — | 71 | — | ||||||||||||
Total | $ | 1,493,824 | $ | 1,457,334 | $ | 36,490 | $ | — | ||||||||
Liabilities: | ||||||||||||||||
Contingent interest derivative on the Subordinated Convertible Debentures | $ | 11,203 | $ | — | $ | — | $ | 11,203 | ||||||||
Foreign currency forward contracts (2) | 765 | — | 765 | — | ||||||||||||
Total | $ | 11,968 | $ | — | $ | 765 | $ | 11,203 | ||||||||
-1 | Included in Prepaid expenses and other current assets | |||||||||||||||
-2 | Included in Accounts payable and accrued liabilities | |||||||||||||||
Changes In Fair Value Measurement Of Level 3 Items | The following table summarizes the change in the fair value of the Company’s contingent interest derivative on the Subordinated Convertible Debentures during the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Beginning balance | $ | 15,640 | $ | 15,585 | $ | 11,203 | $ | 11,625 | ||||||||
Unrealized loss on contingent interest derivative on the Subordinated Convertible Debentures | 5,286 | 3,167 | 9,723 | 7,127 | ||||||||||||
Ending balance | $ | 20,926 | $ | 18,752 | $ | 20,926 | $ | 18,752 | ||||||||
Other_Balance_Sheet_Items_Tabl
Other Balance Sheet Items (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ||||||||
Deferred Tax Assets And Other Current Assets | Prepaid expenses and other current assets consist of the following: | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Prepaid expenses | $ | 13,941 | $ | 15,413 | ||||
Income tax and other receivables | 14,602 | 15,056 | ||||||
Debt issuance costs | 10,737 | — | ||||||
Other | 573 | 326 | ||||||
Total prepaid expenses and other current assets | $ | 39,853 | $ | 30,795 | ||||
Schedule of Other Assets, Noncurrent [Table Text Block] | Other long-term assets consist of the following: | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Other tax receivable | $ | 5,811 | $ | 5,811 | ||||
Long-term investments | 413 | 413 | ||||||
Debt issuance costs | 11,983 | 11,516 | ||||||
Long-term restricted cash | 8,455 | 4,509 | ||||||
Prepaid expenses and deposits | 2,843 | 3,076 | ||||||
Total other long-term assets | $ | 29,505 | $ | 25,325 | ||||
Components Of Accounts Payable And Accrued Liabilities | Accounts payable and accrued liabilities consist of the following: | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accounts payable | $ | 23,986 | $ | 23,519 | ||||
Accrued employee compensation | 40,827 | 38,778 | ||||||
Customer deposits, net | 19,495 | 19,321 | ||||||
Taxes payable and other tax liabilities | 25,322 | 21,918 | ||||||
Other accrued liabilities | 35,796 | 26,855 | ||||||
Total accounts payable and accrued liabilities | $ | 145,426 | $ | 130,391 | ||||
Calculation_Of_Net_Income_Per_1
Calculation Of Net Income Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | The following table presents the computation of weighted-average shares used in the calculation of basic and diluted net income per share: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Weighted-average shares of common stock outstanding | 141,701 | 156,261 | 147,567 | 157,729 | ||||||||||||
Weighted-average potential shares of common stock outstanding: | ||||||||||||||||
Conversion spread related to the Subordinated Convertible Debentures | 10,480 | 9,232 | 9,258 | 5,803 | ||||||||||||
Unvested RSUs | 669 | 806 | 664 | 744 | ||||||||||||
Stock options | 94 | 182 | 98 | 191 | ||||||||||||
Employee stock purchase plan | 7 | 94 | 19 | 73 | ||||||||||||
Shares used to compute diluted net income per share | 152,951 | 166,575 | 157,606 | 164,540 | ||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following table presents the weighted-average potential shares of common stock that were excluded from the above calculation because their effect was anti-dilutive, and the respective weighted-average exercise prices of the weighted-average stock options outstanding: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Weighted-average stock options outstanding | — | — | — | 39 | ||||||||||||
Weighted-average exercise price | $ | — | $ | — | $ | — | $ | 40.81 | ||||||||
Weighted-average RSUs outstanding | 1 | 13 | 101 | 6 | ||||||||||||
Employee stock purchase plan | 454 | 86 | 198 | 69 | ||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Share-based Compensation [Abstract] | ||||||||||||||||
Classification Of Stock-Based Compensation | The following table presents the classification of stock-based compensation: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Cost of revenues | $ | 1,524 | $ | 1,491 | $ | 4,639 | $ | 4,479 | ||||||||
Sales and marketing | 1,442 | 1,697 | 4,656 | 5,046 | ||||||||||||
Research and development | 1,674 | 1,622 | 5,314 | 4,191 | ||||||||||||
General and administrative | 5,937 | 4,997 | 12,397 | 12,675 | ||||||||||||
Total stock-based compensation expense | $ | 10,577 | $ | 9,807 | $ | 27,006 | $ | 26,391 | ||||||||
Nature Of Total Stock-Based Compensation | The following table presents the nature of the Company’s total stock-based compensation: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
RSUs | $ | 10,202 | $ | 9,062 | $ | 24,892 | $ | 24,297 | ||||||||
Employee stock purchase plan | 1,130 | 1,253 | 4,262 | 3,361 | ||||||||||||
Stock options | — | 193 | 180 | 829 | ||||||||||||
Capitalization (Included in Property and equipment, net) | (755 | ) | (701 | ) | (2,328 | ) | (2,096 | ) | ||||||||
Total stock-based compensation expense | $ | 10,577 | $ | 9,807 | $ | 27,006 | $ | 26,391 | ||||||||
Debt_and_interest_Expense_Tabl
Debt and interest Expense (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Interest Expense [Abstract] | ||||||||||||||||
Interest Expense Schedule | The following table presents the components of the Company’s interest expense: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Contractual interest on the Subordinated Convertible Debentures | $ | 10,156 | $ | 10,156 | $ | 30,469 | $ | 30,469 | ||||||||
Contractual interest on Senior Notes | 8,672 | — | 15,899 | — | ||||||||||||
Amortization of debt discount on the Subordinated Convertible Debentures | 2,189 | 2,017 | 6,435 | 5,927 | ||||||||||||
Credit facility and amortization of debt issuance costs | 443 | 637 | 1,623 | 1,898 | ||||||||||||
Interest capitalized to Property and equipment, net | (341 | ) | (191 | ) | (902 | ) | (755 | ) | ||||||||
Total interest expense | $ | 21,119 | $ | 12,619 | $ | 53,524 | $ | 37,539 | ||||||||
Nonoperating_loss_income_Table
Non-operating (loss) income (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Non-operating (loss) income, net [Abstract] | ||||||||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | The following table presents the components of Non-operating loss, net: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(In thousands) | ||||||||||||||||
Interest and dividend income | $ | 320 | $ | 643 | $ | 1,583 | $ | 1,548 | ||||||||
Unrealized loss on contingent interest derivative on Subordinated Convertible Debentures | (5,286 | ) | (3,167 | ) | (9,723 | ) | (7,127 | ) | ||||||||
Income from transition services agreements | — | 362 | — | 2,541 | ||||||||||||
Realized net (loss) gain on investments | (2 | ) | 34 | 3,049 | 68 | |||||||||||
Other, net | 376 | 386 | 883 | (62 | ) | |||||||||||
Total non-operating loss, net | $ | (4,592 | ) | $ | (1,742 | ) | $ | (4,208 | ) | $ | (3,032 | ) |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||
Income Tax Expense From Continuing Operations And The Effective Tax Rate | The following table presents income tax expense from continuing operations and the effective tax rate: | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Dollars in thousands) | ||||||||||||||||
Income tax expense from continuing operations | $ | 26,104 | $ | 24,882 | $ | 88,025 | $ | 70,005 | ||||||||
Effective tax rate | 24 | % | 24 | % | 26 | % | 25 | % |
Cash_Cash_Equivalents_And_Mark2
Cash, Cash Equivalents, And Marketable Securities (Cash, Cash Equivalents, And Marketable Securities) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Cash | $53,014 | $63,578 | ||
Money market funds | 13,435 | 38,054 | ||
Time deposits | 4,597 | 3,614 | ||
Financial Instruments, Owned, US Government and Agency Obligations, at Fair Value | 1,744,223 | 1,452,358 | ||
Available-for-sale Securities, Equity Securities | 0 | 3,341 | ||
Total | 1,815,269 | 1,560,945 | ||
Included in Cash and cash equivalents | 117,591 | 130,736 | 270,455 | 1,313,349 |
Included in Marketable securities | 1,689,223 | 1,425,700 | ||
Included in Other assets (Restricted cash) | $8,455 | $4,509 |
Cash_Cash_Equivalents_And_Mark3
Cash, Cash Equivalents, And Marketable Securities Cash, Cash Equivalents, And Marketable Securities narrative (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Cash, Cash Equivalents And Marketable Securities [Abstract] | |
Available-for-sale Securities | $1,744,223,000 |
debt securities gross unrealized gains | $100,000 |
Fair_Value_Of_Financial_Instru2
Fair Value Of Financial Instruments (Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) (Measured On A Recurring Basis [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total Fair Value [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total fair value of assets | $1,757,973 | $1,493,824 |
Total fair of value of liabilities | 21,230 | 11,968 |
Total Fair Value [Member] | Embedded Derivative Financial Instruments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 20,926 | 11,203 |
Total Fair Value [Member] | Money Market Funds [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments in money market funds | 13,435 | 38,054 |
Total Fair Value [Member] | Debt Securities Issued By The U.S. Treasury And Other U.S. Government Corporations And Agencies [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 1,744,223 | 1,452,358 |
Total Fair Value [Member] | Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 3,341 | |
Total Fair Value [Member] | Forward Contracts [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Foreign currency forward contracts assets | 315 | 71 |
Foreign currency forward contracts liabilities | 304 | 765 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total fair value of assets | 1,757,658 | 1,457,334 |
Total fair of value of liabilities | 0 | 0 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Embedded Derivative Financial Instruments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Money Market Funds [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments in money market funds | 13,435 | 38,054 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Debt Securities Issued By The U.S. Treasury And Other U.S. Government Corporations And Agencies [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 1,744,223 | 1,419,280 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 0 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Forward Contracts [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Foreign currency forward contracts assets | 0 | 0 |
Foreign currency forward contracts liabilities | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total fair value of assets | 315 | 36,490 |
Total fair of value of liabilities | 304 | 765 |
Significant Other Observable Inputs (Level 2) [Member] | Embedded Derivative Financial Instruments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Money Market Funds [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments in money market funds | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities Issued By The U.S. Treasury And Other U.S. Government Corporations And Agencies [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 33,078 |
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 3,341 | |
Significant Other Observable Inputs (Level 2) [Member] | Forward Contracts [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Foreign currency forward contracts assets | 315 | 71 |
Foreign currency forward contracts liabilities | 304 | 765 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total fair value of assets | 0 | 0 |
Total fair of value of liabilities | 20,926 | 11,203 |
Significant Unobservable Inputs (Level 3) [Member] | Embedded Derivative Financial Instruments [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 20,926 | 11,203 |
Significant Unobservable Inputs (Level 3) [Member] | Money Market Funds [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments in money market funds | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Debt Securities Issued By The U.S. Treasury And Other U.S. Government Corporations And Agencies [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Investments, Fair Value Disclosure | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | Forward Contracts [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Foreign currency forward contracts assets | 0 | 0 |
Foreign currency forward contracts liabilities | $0 | $0 |
Fair_Value_Of_Financial_Instru3
Fair Value Of Financial Instruments (Changes In Fair Value Measurement Of Level 3 Items) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $15,640 | $15,585 | $11,203 | $11,625 |
Unrealized loss on contingent interest derivative on Convertible Debentures | 5,286 | 3,167 | 9,723 | 7,127 |
Ending balance | $20,926 | $18,752 | $20,926 | $18,752 |
Fair_Value_Of_Financial_Instru4
Fair Value Of Financial Instruments (Narrative) (Details) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Fair value assumptions expected volatility rate | 26.00% |
fair value hypothetical increase decrease in volatility rate | 5.00% |
fair value assumptions credit spread | 5.00% |
fair value hypothetical increase decrease in credit spread | 1.00% |
Convertible Debt, Fair Value Disclosures | $2,000,000,000 |
Debt Instrument, Fair Value Disclosure | $704,500,000 |
Other_Balance_Sheet_Items_Prep
Other Balance Sheet Items (Prepaid Expenses And Other Current Assets) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ||
Prepaid expenses | $13,941 | $15,413 |
Income tax and other receivables | 14,602 | 15,056 |
Deferred Finance Costs, Current, Net | 10,737 | 0 |
Other | 573 | 326 |
Total prepaid expenses and other current assets | $39,853 | $30,795 |
Other_Balance_Sheet_Items_Othe
Other Balance Sheet Items Other balance sheet items (Other long-term assets) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Balance Sheet Items [Abstract] | ||
Income Taxes Receivable, Noncurrent | $5,811 | $5,811 |
Long-term Investments | 413 | 413 |
Deferred Finance Costs, Noncurrent, Net | 11,983 | 11,516 |
Restricted Cash and Cash Equivalents, Noncurrent | 8,455 | 4,509 |
Prepaid expenses and deposits | 2,843 | 3,076 |
Other Assets, Noncurrent | $29,505 | $25,325 |
Other_Balance_Sheet_Items_Comp
Other Balance Sheet Items (Components Of Accounts Payable And Accrued Liabilities) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ||
Accounts payable | $23,986 | $23,519 |
Accrued employee compensation | 40,827 | 38,778 |
Customer deposits, net | 19,495 | 19,321 |
Taxes payable and other tax liabilities | 25,322 | 21,918 |
Other accrued liabilities | 35,796 | 26,855 |
Total accounts payable and accrued liabilities | $145,426 | $130,391 |
Other_Balance_Sheet_Items_Othe1
Other Balance Sheet Items Other Balance Sheet Items (Narrative) (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Unamortized Debt issuance costs | $11.40 |
Stockholders_Deficit_Narrative
Stockholders' Deficit (Narrative) (Details) (USD $) | 3 Months Ended | 7 Months Ended | 9 Months Ended |
Share data in Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jul. 24, 2013 | Sep. 30, 2013 |
Treasury Stock Repurchase Programs [Line Items] | |||
Common stock, held in treasury | 182.5 | 182.5 | |
Common stock repurchased | $5,700,000,000 | $5,700,000,000 | |
Two Thousand Thirteen Share Buyback Program [Member] | |||
Treasury Stock Repurchase Programs [Line Items] | |||
Additional share repurchase amount authorized | 518,700,000 | ||
Common stock authorized to repurchase | 1,000,000,000 | ||
Remaining common stock available for repurchase | 697,100,000 | ||
Common stock repurchase, share | 6.8 | 16.9 | |
Average stock price | $48.87 | $47.14 | |
Aggregate cost of share | 331,300,000 | 797,100,000 | |
Restricted Stock Units [Member] | |||
Treasury Stock Repurchase Programs [Line Items] | |||
Common stock repurchase, share | 0.3 | ||
Average stock price | $45.68 | ||
Aggregate cost of share | 13,000,000 | ||
Two Thousand Twelve Share Buyback Program [Member] | |||
Treasury Stock Repurchase Programs [Line Items] | |||
Remaining common stock available for repurchase | $481,300,000 |
Calculation_Of_Net_Income_Per_2
Calculation Of Net Income Per Share (Weighted-Average Shares Used In Calculation Of Basic And Diluted EPS) (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ||||
Weighted-average number of common shares outstanding | 141,701 | 156,261 | 147,567 | 157,729 |
Conversion spread related to Convertible Debentures | 10,480 | 9,232 | 9,258 | 5,803 |
Unvested restricted stock units | 669 | 806 | 664 | 744 |
Stock options | 94 | 182 | 98 | 191 |
Employee stock purchase plan | 7 | 94 | 19 | 73 |
Shares used to compute diluted net income per share | 152,951 | 166,575 | 157,606 | 164,540 |
Calculation_Of_Net_Income_Per_3
Calculation Of Net Income Per Share (Schedule Of Weighted-Average Potential Shares Excluded From Computation Of EPS) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Weighted-average exercise price | $0 | $0 | $0 | $40.81 |
Stock Options [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Weighted-average potential shares excluded from computation of EPS | 0 | 0 | 0 | 39 |
Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Weighted-average potential shares excluded from computation of EPS | 1 | 13 | 101 | 6 |
Employee Stock Purchase Plan [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Weighted-average potential shares excluded from computation of EPS | 454 | 86 | 198 | 69 |
Calculation_Of_Net_Income_Per_4
Calculation Of Net Income Per Share Calculation of Net Income Per Share (Narrative Details) (Details) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Earnings Per Share [Abstract] | |
Performance based shares not included in calculation of diluted weighted average shares outstanding | 200 |
StockBased_Compensation_Classi
Stock-Based Compensation (Classification Of Stock-Based Compensation) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $10,577 | $9,807 | $27,006 | $26,391 |
Cost Of Revenues [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 1,524 | 1,491 | 4,639 | 4,479 |
Sales And Marketing [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 1,442 | 1,697 | 4,656 | 5,046 |
Research And Development [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 1,674 | 1,622 | 5,314 | 4,191 |
General And Administrative [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $5,937 | $4,997 | $12,397 | $12,675 |
StockBased_Compensation_Nature
Stock-Based Compensation (Nature Of Total Stock-Based Compensation) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | ($755) | ($701) | ($2,328) | ($2,096) |
Stock-based compensation | 10,577 | 9,807 | 27,006 | 26,391 |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation | 0 | 193 | 180 | 829 |
Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation | 1,130 | 1,253 | 4,262 | 3,361 |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation | $10,202 | $9,062 | $24,892 | $24,297 |
Debt_and_interest_Expense_Narr
Debt and interest Expense (Narrative) (Details) (USD $) | 1 Months Ended | 9 Months Ended | ||||
Apr. 30, 2013 | Aug. 31, 2007 | Sep. 30, 2013 | Apr. 16, 2013 | Dec. 31, 2012 | Aug. 15, 2007 | |
Rate | Rate | Rate | Rate | |||
Interest Expense [Abstract] | ||||||
Debt Instrument, Offering Date | 16-Apr-13 | |||||
Senior Notes | $750,000,000 | $750,000,000 | $0 | $1,250,000,000 | ||
Percentage of face of notes issued | 100.00% | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 200,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.63% | 3.25% | ||||
Debt Instrument, Maturity Date | 1-May-23 | 15-Aug-37 | ||||
Debt Instrument, Convertible, Conversion Ratio | 29.0968 | |||||
DenominatorOfPrincipalAmountUponWhichConversionRateIsBased | 1,000 | |||||
Minimum required sales price as a percentage of conversion price | 130.00% | |||||
Debt Instrument, Convertible, Stock Price Trigger | $44.68 | |||||
Debt Instrument, Convertible, Conversion Price | $34.37 | |||||
Percentage of maximum required trading price per convertible debentures | 98.00% | |||||
Repayments of Lines of Credit | 100,000,000 | |||||
issuance cost on senior note | $12,000,000 | |||||
Debt Instrument, Call Date, Earliest | 1-May-18 | |||||
Max early redemption percentage of the debt instrument | 35.00% | |||||
Redemption Price Percentage For Redemption On Before 2018 | 104.63% | |||||
Redemption Price Of Senior Notes If Change Of Control | 101.00% |
Debt_and_interest_Expense_Inte
Debt and interest Expense (Interest Expense Schedule) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest Expense [Abstract] | ||||
Contractual interest on Convertible Debentures | $10,156 | $10,156 | $30,469 | $30,469 |
Contractual interest on Notes | 8,672 | 0 | 15,899 | 0 |
Amortization of debt discount on the Convertible Debentures | 2,189 | 2,017 | 6,435 | 5,927 |
Interest capitalized to Property and equipment, net | -341 | -191 | -902 | -755 |
Credit facility and other interest expense | 443 | 637 | 1,623 | 1,898 |
Total interest expense | $21,119 | $12,619 | $53,524 | $37,539 |
Nonoperating_loss_income_Detai
Non-operating (loss) income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Non-operating (loss) income, net [Abstract] | ||||
Interest and Dividend Income, Securities | $320 | $643 | $1,583 | $1,548 |
Unrealized Gain (Loss) on Derivatives | -5,286 | -3,167 | -9,723 | -7,127 |
Income From Transition Services Agreements | 0 | 362 | 0 | 2,541 |
Realized Investment Gains (Losses) | -2 | 34 | 3,049 | 68 |
Other Nonoperating Income (Expense) | 376 | 386 | 883 | -62 |
Nonoperating (loss) Income | ($4,592) | ($1,742) | ($4,208) | ($3,032) |
Nonoperating_loss_income_Nonop
Non-operating (loss) income Non-operating income (loss) Narrative (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Non-operating income (loss) [Abstract] | |
Realized Gain On Equity Security | $3 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Rate | Rate | Rate | Rate | |
Income Tax Disclosure [Abstract] | ||||
Statutory federal rate | 35.00% | 35.00% | 35.00% | 35.00% |
Income_Taxes_Income_Tax_Expens
Income Taxes (Income Tax Expense From Continuing Operations And Effective Tax Rate) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Rate | Rate | Rate | Rate | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense from continuing operations | $26,104 | $24,882 | $88,025 | $70,005 |
Effective tax rate | 24.00% | 24.00% | 26.00% | 25.00% |
Contingencies_Details
Contingencies (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Commitments and Contingencies Disclosure [Abstract] | |
Tax deductible compensation limit | $1 |
Indemnification period (months) | 60 |
Claims threshold amount to trigger indemnification obligation | 4 |
Percentage of claims to be indemnified | 50.00% |
Maximum indemnification obligation | $50 |