VeriSign (VRSN) 10-Q 28 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2021	Oct. 22, 2021
Document And Entity Information [Abstract]
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	VRSN
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3221585
Entity Address, Postal Zip Code	20190
Document Transition Report	false
Document Quarterly Report	true
Entity Registrant Name	VERISIGN INC/CA
Entity Central Index Key	0001014473
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Entity File Number	000-23593
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		111,078,436
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Address, Address Line One	12061 Bluemont Way,
Entity Address, City or Town	Reston,
Entity Address, State or Province	VA
City Area Code	703
Local Phone Number	948-3200
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 256,869	$ 401,194
Marketable securities	941,552	765,713
Other Assets, Current	65,989	51,033
Total current assets	1,264,410	1,217,940
Property and equipment, net	249,093	245,571
Goodwill	52,527	52,527
Deferred Income Tax Assets, Net	65,163	67,914
Deposits to acquire Intangible Assets	145,000	145,000
Other long-term assets	38,514	37,958
Total long-term assets	550,297	548,970
Total assets	1,814,707	1,766,910
Current liabilities:
Accounts payable and accrued liabilities	204,511	208,642
Deferred revenues	843,664	780,051
Total current liabilities	1,048,175	988,693
Long-term deferred revenues	314,089	282,838
Senior Notes	1,785,152	1,790,083
Other long-term liabilities	84,869	95,494
Total long-term liabilities	2,184,110	2,168,415
Total liabilities	3,232,285	3,157,108
Commitments and contingencies
Stockholders' deficit:
Preferred stock-par value $.001 per share	0	0
Common Stocks, Including Additional Paid in Capital	13,793,049	14,275,160
Accumulated deficit	(15,207,854)	(15,662,602)
Accumulated other comprehensive loss	(2,773)	(2,756)
Total stockholders' deficit	(1,417,578)	(1,390,198)
Total liabilities and stockholders' deficit	$ 1,814,707	$ 1,766,910
Common Stock, Shares, Issued	354,154	353,789
Common stock, outstanding shares	111,283	113,470
Preferred stock, authorized shares	5,000	5,000
Preferred stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	1,000,000	1,000,000
Common stock, par value	$ 0.001	$ 0.001

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	5,000	5,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	1,000,000	1,000,000
Common Stock, Shares, Issued	354,154	353,789
Common stock, outstanding shares	111,283	113,470

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues	$ 334,242	$ 317,879	$ 987,268	$ 944,768
Costs and expenses:
Cost of revenues	47,801	45,024	142,565	134,205
Sales and marketing	9,410	8,389	28,115	23,883
Research and development	19,566	19,708	59,685	55,268
General and administrative	36,160	38,109	112,212	111,719
Total costs and expenses	112,937	111,230	342,577	325,075
Operating income	221,305	206,649	644,691	619,693
Interest expense	(18,829)	(22,537)	(64,427)	(67,607)
Non-operating income (loss), net	164	775	(1,433)	15,262
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	202,640	184,887	578,831	567,348
Income tax expense	(46,018)	(13,908)	(124,083)	90,226
Net Income	156,622	170,979	454,748	657,574
Other comprehensive income (loss)	61	(383)	(17)	(120)
Comprehensive Income	$ 156,683	$ 170,596	$ 454,731	$ 657,454
Basic income (loss) per share
Net Income	$ 1.40	$ 1.49	$ 4.05	$ 5.70
Diluted income (loss) per share
Net Income	$ 1.40	$ 1.49	$ 4.04	$ 5.68
Shares used to compute net income per share
Basic	111,664	114,655	112,389	115,456
Diluted	111,793	114,831	112,530	115,699

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit Statement - USD ($) $ in Thousands	Total	Common Stock Including Additional Paid in Capital [Member]	Accumulated Deficit [Member]	AOCI Attributable to Parent [Member]
Stockholders' Deficit	$ (1,490,100)	$ 14,990,011	$ (16,477,490)	$ (2,621)
Stock-based compensation expense		37,526
Stock Issued During Period, Value, Employee Stock Purchase Plan		12,577
Stock Repurchased During Period, Value		(603,705)
Net Income	657,574		657,574
Other Comprehensive Income (Loss), Net of Tax	(120)			(120)
Stockholders' Deficit	(1,400,324)	14,592,929	(15,990,895)	(2,358)
Stock-based compensation expense		13,078
Stock Issued During Period, Value, Employee Stock Purchase Plan		4,281
Stock Repurchased During Period, Value		(173,879)
Net Income			170,979
Other Comprehensive Income (Loss), Net of Tax	(383)			(383)
Stockholders' Deficit	(1,386,248)	14,436,409	(15,819,916)	(2,741)
Stockholders' Deficit	(1,390,198)	14,275,160	(15,662,602)	(2,756)
Stock-based compensation expense		42,282
Stock Issued During Period, Value, Employee Stock Purchase Plan		12,404
Stock Repurchased During Period, Value		(536,797)
Net Income	454,748		454,748
Other Comprehensive Income (Loss), Net of Tax	(17)			(17)
Stockholders' Deficit	(1,417,785)	13,949,525	(15,364,476)	(2,834)
Stock-based compensation expense		14,819
Stock Issued During Period, Value, Employee Stock Purchase Plan		4,303
Stock Repurchased During Period, Value		(175,598)
Net Income			156,622
Other Comprehensive Income (Loss), Net of Tax	61			61
Stockholders' Deficit	$ (1,417,578)	$ 13,793,049	$ (15,207,854)	$ (2,773)

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 454,748	$ 657,574
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment	35,609	34,463
Stock-based compensation	41,019	36,106
Other Noncash Income (Expense)	(5,410)	8,482
Changes in operating assets and liabilities
Other assets	(19,735)	(11,107)
Accounts payable and accrued liabilities	(5,529)	(5,912)
Deferred revenues	94,863	27,673
Deferred Income Taxes	(5,476)	(195,353)
Net cash provided by operating activities	600,909	534,962
Net Cash Provided by (Used in) Investing Activities [Abstract]
Proceeds from maturities and sales of marketable securities	2,246,148	1,804,541
Purchases of marketable securities	(2,421,705)	(2,093,437)
Payments for (Proceeds from) Businesses and Interest in Affiliates	0	20,009
Purchases of property and equipment	(39,536)	(36,933)
Net cash used in investing activities	(215,093)	(305,820)
Repayments of Debt, Maturing in More than Three Months	(750,000)	0
Proceeds from Debt, Net of Issuance Costs	741,075	0
Cash flows from financing activities:
Proceeds from employee stock purchase plans	12,404	12,577
Repurchases of common stock	(536,797)	(603,705)
Net cash used in financing activities	(533,318)	(591,128)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(600)	(506)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(148,102)	(362,492)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	410,601	517,601
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	262,499	155,109
Supplemental cash flow disclosures:
Cash paid for interest	61,845	56,860
Cash paid for income taxes, net of refunds received	$ 132,202	$ 105,258

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2021
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 Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”) filed with the SEC on February 19, 2021.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2021
Financial Instruments, Owned, at Fair Value [Abstract]
Financial Instruments	Financial Instruments Cash, Cash Equivalents, and Marketable Securities The following table summarizes the Company’s cash, cash equivalents, and marketable securities and the fair value categorization of the financial instruments measured at fair value on a recurring basis: September 30, December 31, 2021 2020 (In thousands) Cash $ 24,317 $ 28,832 Time deposits 3,708 4,176 Money market funds (Level 1) 208,377 129,627 Debt securities issued by the U.S. Treasury (Level 1) 967,649 1,013,679 Total $ 1,204,051 $ 1,176,314 Cash and cash equivalents $ 256,869 $ 401,194 Restricted cash (included in Other long-term assets) 5,630 9,407 Total Cash, cash equivalents, and restricted cash 262,499 410,601 Marketable securities 941,552 765,713 Total $ 1,204,051 $ 1,176,314 The fair value of the debt securities held as of September 30, 2021, included less than $0.1 million of gross and net unrealized gains. All of the debt securities held as of September 30, 2021 are scheduled to mature in less than one year. Fair Value Measurements The fair value of the Company’s investments in money market funds approximates their face value. Such instruments 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. Debt securities purchased with original maturities in excess of three months are included in Marketable securities. The fair value of all of these financial instruments are classified as Level 1 in the fair value hierarchy.

Other Balance Sheet Items

Other Balance Sheet Items	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Other Balance Sheet Items	Selected Balance Sheet Items Other Current Assets Other current assets consist of the following: September 30, December 31, 2021 2020 (In thousands) Prepaid expenses $ 31,189 $ 17,920 Prepaid registry fees 24,513 22,654 Accounts receivable, net 5,062 4,642 Taxes receivable 4,091 3,572 Other 1,134 2,245 Total other current assets $ 65,989 $ 51,033 Other Long-Term Assets Other long-term assets consist of the following: September 30, December 31, 2021 2020 (In thousands) Long-term prepaid expenses $ 12,250 $ 7,105 Operating lease right-of-use asset 9,625 11,277 Long-term prepaid registry fees 8,990 7,997 Restricted cash 5,630 9,407 Other 2,019 2,172 Total other long-term assets $ 38,514 $ 37,958 The prepaid expenses included in Other current assets and Other long-term assets as of September 30, 2021 are primarily related to prepaid hardware and software maintenance expenses. The current and long-term prepaid registry fees in the tables above relate to the fees the Company pays to Internet Corporation for Assigned Names and Numbers (“ICANN”) for each annual increment of . com domain name registrations and renewals which are deferred and amortized over the domain name registration term. The amount of prepaid registry fees as of September 30, 2021 reflects amortization of $9.7 million and $28.5 million during the three and nine months ended September 30, 2021 which was recorded in Cost of Revenues. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities consist of the following: September 30, December 31, 2021 2020 (In thousands) Accounts payable and accrued expenses $ 6,233 $ 12,340 Customer deposits 64,650 53,631 Accrued employee compensation 48,890 54,596 Interest payable 24,988 24,408 Taxes payable and other non-income tax liabilities 24,593 27,194 Accrued registry fees 14,717 13,090 Customer incentives payable 10,210 12,556 Other accrued liabilities 10,230 10,827 Total accounts payable and accrued liabilities $ 204,511 $ 208,642 Customer deposits primarily relate to advance payments to cover domain name registration activity by registrars. 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, 2020, was paid during the nine months ended September 30, 2021. Interest payable varies at each period-end based on the payment due dates for each senior note issuance. Taxes payable and other non-income tax liabilities reflect amounts accrued for the income tax provision and payments made during the period. Customer incentives payable includes amounts related to rebates and marketing programs payable to registrars. These amounts may vary from period to period due to the timing of payments. Long-term Tax and Other Liabilities Long-term tax and other liabilities consist of the following: September 30, December 31, 2021 2020 (In thousands) Long-term tax liabilities $ 82,108 $ 90,335 Long-term operating lease liability 2,761 5,159 Long-term tax and other liabilities $ 84,869 $ 95,494

Stockholders' Deficit

Stockholders' Deficit	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' (Deficit) Equity	Note 4. Stockholders’ Deficit Effective February 11, 2021, the Company’s Board of Directors authorized the repurchase of its common stock in the amount of $747.0 million, in addition to the $253.0 million that remained available for repurchases under the share repurchase program, for a total repurchase authorization of up to $1.00 billion under the program. The program has no expiration date. Purchases made under the 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, 2021, the Company repurchased 0.8 million and 2.5 million shares of its common stock, respectively, at an average stock price of $219.62 and $210.55, respectively. The aggregate cost of the repurchases in the three and nine months ended September 30, 2021 was $172.4 million and $517.6 million, respectively. As of September 30, 2021, there was approximately $565.1 million remaining available for future share repurchases under the share repurchase program. During the nine months ended September 30, 2021, the Company placed 0.1 million shares, at an average stock price of $205.10, and for an aggregate cost of $19.3 million, into treasury stock for purposes related to tax withholding upon vesting of Restricted Stock Units (“RSUs”). Since inception, the Company has repurchased 242.9 million shares of its common stock for an aggregate cost of $11.52 billion, which is presented as a reduction of Additional paid-in capital.

Calculation Of Net Income Per S

Calculation Of Net Income Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Calculation Of Net Income Per Share Attributable To Verisign Stockholders	Calculation of Earnings per Share The following table presents the computation of weighted-average shares used in the calculation of basic and diluted earnings per share: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) Weighted-average shares of common stock outstanding 111,664 114,655 112,389 115,456 Weighted-average potential shares of common stock outstanding: Unvested RSUs and ESPP 129 176 141 243 Shares used to compute diluted earnings per share 111,793 114,831 112,530 115,699 The calculation of diluted weighted average shares outstanding excludes performance-based RSUs granted by the Company for which the relevant performance criteria have not been achieved. The number of potential shares excluded from the calculation was not significant in any period presented.

Revenue (Notes)

Revenue (Notes)	9 Months Ended
	Sep. 30, 2021
Revenue Recognition [Abstract]
Revenue from Contract with Customer [Table Text Block]	Revenues The Company generates revenues in the U.S.; Europe, the Middle East and Africa (“EMEA”); China; and certain other countries, including Canada, Australia, and Japan. The following table presents our revenues disaggregated by geography, based on the billing addresses of our customers: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) U.S. $ 214,352 $ 202,934 $ 632,424 $ 599,845 EMEA 58,615 54,034 172,717 159,103 China 24,607 27,463 74,974 86,676 Other 36,668 33,448 107,153 99,144 Total revenues $ 334,242 $ 317,879 $ 987,268 $ 944,768 Revenues in the table above are attributed to the country of domicile and the respective regions in which registrars are located; however, this may differ from the regions where the registrars operate or where registrants are located. Revenues for each region may be impacted by registrars reincorporating, relocating, or from acquisitions or changes in affiliations of resellers. Revenues for each region may also be impacted by registrars domiciled in one region, registering domain names in another region. Deferred Revenues As payment for domain name registrations and renewals are due in advance of our performance, we record these amounts as deferred revenues. The increase in the deferred revenues balance for the nine months ended September 30, 2021 was primarily driven by amounts billed in the nine months ended September 30, 2021 for domain name registrations and renewals to be recognized as revenues in future periods, offset by refunds for domain name renewals deleted during the 45-day grace period, and $665.1 million of revenues recognized that were included in the deferred revenues balance at the beginning of the period. The higher deferred revenue balance as of September 30, 2021 also reflects an increase in the volume of early renewal transactions that occurred before the . com price increase became effective on September 1, 2021. The balance of deferred revenues as of September 30, 2021 represents our aggregate remaining performance obligations. Amounts included in current deferred revenues are all expected to be recognized in revenues within 12 months, except for a portion of deferred revenues that relates to domain name renewals that are deleted in the 45-day grace period following the transaction. The long-term deferred revenues amounts will be recognized in revenues over several years and in some cases up to 10 years.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [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 Nine Months Ended 2021 2020 2021 2020 (In thousands) Cost of revenues $ 1,636 $ 1,558 $ 4,925 $ 4,761 Sales and marketing 1,202 830 3,241 2,558 Research and development 2,151 1,810 6,078 5,266 General and administrative 9,439 8,480 26,775 23,521 Total stock-based compensation expense $ 14,428 $ 12,678 $ 41,019 $ 36,106 The following table presents the nature of the Company’s total stock-based compensation: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) RSUs $ 11,899 $ 10,871 $ 31,777 $ 29,060 Performance-based RSUs 1,857 1,102 7,283 5,146 ESPP 1,063 1,105 3,222 3,320 Capitalization (included in Property and equipment, net) (391) (400) (1,263) (1,420) Total stock-based compensation expense $ 14,428 $ 12,678 $ 41,019 $ 36,106

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt Disclosure	Debt On June 8, 2021, the Company issued $750.0 million of 2.700% senior unsecured notes due June 15, 2031 (“2031 Notes”). The 2031 Notes were issued at 99.712% of par value. The Company will pay interest on the notes semi-annually on June 15 and December 15, commencing on December 15, 2021. The total discount and issuance costs of $8.9 million are presented on the balance sheet as a reduction of the debt obligation and are being amortized to Interest expense over the 10-year term of the notes. On June 23, 2021, the Company used the net proceeds from the 2031 Notes and cash on hand, to redeem all of its $750.0 million aggregate principal amount of outstanding 4.625% senior notes due 2023 (“2023 Notes”). The redemption of the 2023 Notes resulted in a loss on debt extinguishment of $2.1 million related to the unamortized debt issuance costs on the notes in the second quarter of 2021. The loss on extinguishment is included in Non-operating income (loss) during the nine months ended September 30, 2021.

Non-operating (loss) income

Non-operating (loss) income	9 Months Ended
	Sep. 30, 2021
Non-operating (loss) income, net [Abstract]
Other Income and Other Expense Disclosure	Non-operating Income (Loss), Net The following table presents the components of Non-operating income (loss), net: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) Interest income $ 111 $ 805 $ 438 $ 7,500 Loss on extinguishment of debt — — (2,149) — Gain on sale of business — (9) — 5,602 Transition services income — — — 2,100 Other, net 53 (21) 278 60 Total non-operating income (loss), net $ 164 $ 775 $ (1,433) $ 15,262

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents Income tax expense (benefit) and the effective tax rate: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (Dollars in thousands) Income tax expense (benefit) $ 46,018 $ 13,908 $ 124,083 $ (90,226) Effective tax rate 23 % 8 % 21 % (16) % When compared to the statutory federal rate of 21%, the effective tax rates above reflect a lower effective tax rate on foreign income and excess tax benefits related to stock-based compensation, which are offset by state income taxes and U.S. taxes on foreign earnings, net of foreign tax credits. The effective tax rate for the three and nine months ended September 30, 2020 also reflected the remeasurement of unrecognized tax benefits discussed below. The Company remeasured certain previously unrecognized income tax benefits, which resulted in the recognition of $24.0 million and $191.8 million of income tax benefits in the three and nine months ended September 30, 2020, respectively. The most significant portion of these tax benefits related to the worthless stock deduction taken in 2013, which resulted in the recognition of a $167.8 million benefit in the first quarter of 2020. These remeasurements were based on written confirmations from the Internal Revenue Service (“IRS”), received in the first and third quarters of 2020, indicating no examination adjustments would be proposed related to the worthless stock deduction or certain other matters reviewed as part of the audit of the Company’s federal income tax returns for 2010 through 2014. Notwithstanding these written confirmations, the Company’s U.S. federal income tax returns for those years remain under examination by the IRS.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Financial Instruments, Owned, at Fair Value [Abstract]
Cash, Cash Equivalents, And Marketable Securities	The following table summarizes the Company’s cash, cash equivalents, and marketable securities and the fair value categorization of the financial instruments measured at fair value on a recurring basis: September 30, December 31, 2021 2020 (In thousands) Cash $ 24,317 $ 28,832 Time deposits 3,708 4,176 Money market funds (Level 1) 208,377 129,627 Debt securities issued by the U.S. Treasury (Level 1) 967,649 1,013,679 Total $ 1,204,051 $ 1,176,314 Cash and cash equivalents $ 256,869 $ 401,194 Restricted cash (included in Other long-term assets) 5,630 9,407 Total Cash, cash equivalents, and restricted cash 262,499 410,601 Marketable securities 941,552 765,713 Total $ 1,204,051 $ 1,176,314

Other Balance Sheet Items (Tabl

Other Balance Sheet Items (Tables)	9 Months Ended
	Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Other Current Assets	Other current assets consist of the following: September 30, December 31, 2021 2020 (In thousands) Prepaid expenses $ 31,189 $ 17,920 Prepaid registry fees 24,513 22,654 Accounts receivable, net 5,062 4,642 Taxes receivable 4,091 3,572 Other 1,134 2,245 Total other current assets $ 65,989 $ 51,033
Schedule of Other Assets, Noncurrent [Table Text Block]	Other long-term assets consist of the following: September 30, December 31, 2021 2020 (In thousands) Long-term prepaid expenses $ 12,250 $ 7,105 Operating lease right-of-use asset 9,625 11,277 Long-term prepaid registry fees 8,990 7,997 Restricted cash 5,630 9,407 Other 2,019 2,172 Total other long-term assets $ 38,514 $ 37,958
Components Of Accounts Payable And Accrued Liabilities	Accounts payable and accrued liabilities consist of the following: September 30, December 31, 2021 2020 (In thousands) Accounts payable and accrued expenses $ 6,233 $ 12,340 Customer deposits 64,650 53,631 Accrued employee compensation 48,890 54,596 Interest payable 24,988 24,408 Taxes payable and other non-income tax liabilities 24,593 27,194 Accrued registry fees 14,717 13,090 Customer incentives payable 10,210 12,556 Other accrued liabilities 10,230 10,827 Total accounts payable and accrued liabilities $ 204,511 $ 208,642
Other Noncurrent Liabilities [Table Text Block]	Long-term tax and other liabilities consist of the following: September 30, December 31, 2021 2020 (In thousands) Long-term tax liabilities $ 82,108 $ 90,335 Long-term operating lease liability 2,761 5,159 Long-term tax and other liabilities $ 84,869 $ 95,494

Calculation Of Net Income Per_2

Calculation Of Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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 earnings per share: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) Weighted-average shares of common stock outstanding 111,664 114,655 112,389 115,456 Weighted-average potential shares of common stock outstanding: Unvested RSUs and ESPP 129 176 141 243 Shares used to compute diluted earnings per share 111,793 114,831 112,530 115,699

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue Recognition [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents our revenues disaggregated by geography, based on the billing addresses of our customers: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) U.S. $ 214,352 $ 202,934 $ 632,424 $ 599,845 EMEA 58,615 54,034 172,717 159,103 China 24,607 27,463 74,974 86,676 Other 36,668 33,448 107,153 99,144 Total revenues $ 334,242 $ 317,879 $ 987,268 $ 944,768

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Classification Of Stock-Based Compensation	The following table presents the classification of stock-based compensation: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) Cost of revenues $ 1,636 $ 1,558 $ 4,925 $ 4,761 Sales and marketing 1,202 830 3,241 2,558 Research and development 2,151 1,810 6,078 5,266 General and administrative 9,439 8,480 26,775 23,521 Total stock-based compensation expense $ 14,428 $ 12,678 $ 41,019 $ 36,106
Nature Of Total Stock-Based Compensation	The following table presents the nature of the Company’s total stock-based compensation: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) RSUs $ 11,899 $ 10,871 $ 31,777 $ 29,060 Performance-based RSUs 1,857 1,102 7,283 5,146 ESPP 1,063 1,105 3,222 3,320 Capitalization (included in Property and equipment, net) (391) (400) (1,263) (1,420) Total stock-based compensation expense $ 14,428 $ 12,678 $ 41,019 $ 36,106

Non-operating (loss) income (Ta

Non-operating (loss) income (Tables)	9 Months Ended
	Sep. 30, 2021
Non-operating (loss) income, net [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	The following table presents the components of Non-operating income (loss), net: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (In thousands) Interest income $ 111 $ 805 $ 438 $ 7,500 Loss on extinguishment of debt — — (2,149) — Gain on sale of business — (9) — 5,602 Transition services income — — — 2,100 Other, net 53 (21) 278 60 Total non-operating income (loss), net $ 164 $ 775 $ (1,433) $ 15,262

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax Expense From Continuing Operations And The Effective Tax Rate	The following table presents Income tax expense (benefit) and the effective tax rate: Three Months Ended Nine Months Ended 2021 2020 2021 2020 (Dollars in thousands) Income tax expense (benefit) $ 46,018 $ 13,908 $ 124,083 $ (90,226) Effective tax rate 23 % 8 % 21 % (16) %

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cash	$ 24,317	$ 28,832
Time deposits	3,708	4,176
Money Market Funds (level 1)	208,377	129,627
Financial Instruments, Owned, US Government and Agency Obligations, at Fair Value	967,649	1,013,679
Total	1,204,051	1,176,314
Included in Cash and cash equivalents	256,869	401,194
Restricted Cash Equivalents, Noncurrent	5,630	9,407
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	262,499	410,601	$ 155,109	$ 517,601
Included in Marketable securities	$ 941,552	$ 765,713

Financial Instruments Financial

Financial Instruments Financial Instruments narrative (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt instrument fair value senior notes 2025	$ 563,600
Debt instrument fair value senior notes 2027	580,000
Debt instrument fair value senior notes 2031	763,500
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$ 100

Other Balance Sheet Items (Othe

Other Balance Sheet Items (Other Current Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Prepaid registry fees, current	$ 24,513	$ 22,654
Prepaid expenses	31,189	17,920
Accounts Receivable, Net	5,062	4,642
Income Taxes Receivable, Current	4,091	3,572
Other Assets, Miscellaneous, Current	1,134	2,245
Other Assets, Current	$ 65,989	$ 51,033

Other Balance Sheet Items Other

Other Balance Sheet Items Other Balance Sheet Items (Other long-term assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Restricted Cash	$ 5,630	$ 9,407
Operating Lease, Right-of-Use Asset	9,625	11,277
Prepaid Expense, Noncurrent	12,250	7,105
Prepaid registry fees, noncurent	8,990	7,997
Other Assets, Miscellaneous, Noncurrent	2,019	2,172
Other Assets, Noncurrent	$ 38,514	$ 37,958

Other Balance Sheet Items (Comp

Other Balance Sheet Items (Components Of Accounts Payable And Accrued Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accounts payable	$ 6,233	$ 12,340
Accrued employee compensation	48,890	54,596
Taxes Payable	24,593	27,194
Interest Payable	24,988	24,408
Deposits	64,650	53,631
accrued fees	14,717	13,090
customer incentives payable	10,210	12,556
Other accrued liabilities	10,230	10,827
Total accounts payable and accrued liabilities	$ 204,511	$ 208,642

Other Balance Sheet Items Non-C

Other Balance Sheet Items Non-Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
other tax liabilities, noncurrent	$ 82,108	$ 90,335
Operating Lease, Liability, Noncurrent	2,761	5,159
Other long-term liabilities	$ 84,869	$ 95,494

Other Balance Sheet Items Oth_2

Other Balance Sheet Items Other Balance Sheet Items (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Balance Sheet Related Disclosures [Abstract]
Amortization of Other Deferred Charges	$ 9,700	$ 28,500
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Current	$ 7,700	$ 7,700

Stockholders' Deficit (Narrativ

Stockholders' Deficit (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Feb. 11, 2021
Treasury Stock Repurchase Programs [Line Items]
Additional share repurchase amount authorized		$ 747
Remaining common stock available for repurchase	$ 565.1	$ 565.1	$ 253
Common stock, held in treasury	242.9	242.9
Common stock repurchased	$ 11,520	$ 11,520
Share Buyback Program [Member]
Treasury Stock Repurchase Programs [Line Items]
Common stock authorized to repurchase			$ 1,000
Common stock repurchase, share	0.8	2.5
Average stock price	$ 219.62	$ 210.55
Aggregate cost of share	$ 172.4	$ 517.6
Restricted Stock Units [Member]
Treasury Stock Repurchase Programs [Line Items]
Common stock repurchase, share		0.1
Average stock price		$ 205.10
Aggregate cost of share		$ 19.3

Calculation Of Net Income Per_3

Calculation Of Net Income Per Share (Weighted-Average Shares Used In Calculation Of Basic And Diluted EPS) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Weighted-average number of common shares outstanding	111,664	114,655	112,389	115,456
Unvested RSUs and ESPP	129	176	141	243
Shares used to compute diluted net income per share	111,793	114,831	112,530	115,699

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 334,242	$ 317,879	$ 987,268	$ 944,768
US [Member]
Disaggregation of Revenue [Line Items]
Revenues	214,352	202,934	632,424	599,845
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	58,615	54,034	172,717	159,103
China [Member]
Disaggregation of Revenue [Line Items]
Revenues	24,607	27,463	74,974	86,676
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 36,668	$ 33,448	$ 107,153	$ 99,144

Revenue Revenue (Narrative deta

Revenue Revenue (Narrative detail) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Revenue Recognition and Deferred Revenue [Abstract]
Deferred Revenue, Revenue Recognized	$ 665.1

Stock-Based Compensation (Class

Stock-Based Compensation (Classification Of Stock-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 14,428	$ 12,678	$ 41,019	$ 36,106
Cost Of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	1,636	1,558	4,925	4,761
Sales And Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	1,202	830	3,241	2,558
Research And Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	2,151	1,810	6,078	5,266
General And Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 9,439	$ 8,480	$ 26,775	$ 23,521

Stock-Based Compensation (Natur

Stock-Based Compensation (Nature Of Total Stock-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Amount Capitalized	$ (391)	$ (400)	$ (1,263)	$ (1,420)
Stock-based compensation	14,428	12,678	41,019	36,106
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	11,899	10,871	31,777	29,060
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1,857	1,102	7,283	5,146
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,063	$ 1,105	$ 3,222	$ 3,320

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 23, 2021
Extinguishment of Debt [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 0	$ 0	$ (2,149)	$ 0
Due 2031 [Member]
Extinguishment of Debt [Line Items]
Debt Issuance Costs, Gross	8,900		8,900
Debt Instrument, Face Amount	$ 750,000		$ 750,000
Debt Instrument, Interest Rate, Stated Percentage	2.70%		2.70%
debt instrument, issue percentage	99.712%		99.712%
Due 2023 [Member]
Extinguishment of Debt [Line Items]
Gain (Loss) on Extinguishment of Debt	$ (2,100)
Debt Instrument, Face Amount					$ 750,000
Debt Instrument, Interest Rate, Stated Percentage					4.625%

Non-operating (loss) income (De

Non-operating (loss) income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Non-operating (loss) income, net [Abstract]
Gain (Loss) on Extinguishment of Debt	$ 0	$ 0	$ (2,149)	$ 0
Interest Income	111	805	438	7,500
Gain (Loss) on Disposition of Business	0	(9)	0	5,602
income from transition services	0	0	0	2,100
Other Nonoperating Income (Expense)	53	(21)	278	60
Nonoperating (loss) Income	$ 164	$ 775	$ (1,433)	$ 15,262

Income Taxes (Income Tax Expens

Income Taxes (Income Tax Expense From Continuing Operations And Effective Tax Rate) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense from continuing operations	$ 46,018	$ 13,908	$ 124,083	$ (90,226)
Effective tax rate	23.00%	8.00%	21.00%	(16.00%)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	$ 24,000		$ 191,800
Statutory federal rate		21.00%