Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'FORTINET INC | ' |
Entity Central Index Key | '0001262039 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 164,855,943 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $258,096 | $115,873 |
Short-term investments | 402,495 | 375,497 |
Accounts receivable—Net of allowance for doubtful accounts and sales returns of $5,537 and $4,605 as of September 30, 2014 and December 31, 2013, respectively | 116,382 | 130,471 |
Inventory | 51,344 | 48,672 |
Deferred tax assets | 51,297 | 50,980 |
Prepaid expenses and other current assets | 16,826 | 14,053 |
Total current assets | 896,440 | 735,546 |
LONG-TERM INVESTMENTS | 303,168 | 351,675 |
PROPERTY AND EQUIPMENT—Net | 56,812 | 36,652 |
DEFERRED TAX ASSETS | 42,276 | 30,058 |
GOODWILL | 2,824 | 2,872 |
OTHER INTANGIBLE ASSETS—Net | 3,104 | 6,841 |
OTHER ASSETS | 7,977 | 4,820 |
TOTAL ASSETS | 1,312,601 | 1,168,464 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 36,520 | 35,599 |
Accrued liabilities | 25,662 | 27,380 |
Accrued payroll and compensation | 40,692 | 34,997 |
Income taxes payable | 2,490 | 21,421 |
Deferred revenue | 329,132 | 293,664 |
Total current liabilities | 434,496 | 413,061 |
DEFERRED REVENUE | 170,880 | 138,964 |
INCOME TAXES PAYABLE | 40,532 | 30,208 |
OTHER LIABILITIES | 17,467 | 471 |
Total liabilities | 663,375 | 582,704 |
COMMITMENTS AND CONTINGENCIES (Note 9) | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' |
Common stock, $0.001 par value — 300,000 shares authorized; 164,904 and 161,535 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively | 165 | 161 |
Additional paid-in capital | 537,450 | 462,644 |
Accumulated other comprehensive income | 114 | 1,092 |
Retained earnings | 111,497 | 121,863 |
Total stockholders’ equity | 649,226 | 585,760 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $1,312,601 | $1,168,464 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) Parenthetical (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Allowance for doubtful accounts and sales returns | $5,537 | $4,605 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares authorized | 300,000 | 300,000 |
Common Stock, shares issued | 164,904 | 161,535 |
Common Stock, shares outstanding | 164,904 | 161,535 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
REVENUE: | ' | ' | ' | ' |
Product | $87,731 | $69,687 | $249,880 | $194,162 |
Services and other | 105,617 | 85,012 | 296,515 | 243,785 |
Total revenue | 193,348 | 154,699 | 546,395 | 437,947 |
COST OF REVENUE: | ' | ' | ' | ' |
Product | 35,636 | 27,126 | 105,230 | 77,032 |
Services and other | 21,249 | 16,804 | 60,155 | 49,734 |
Total cost of revenue | 56,885 | 43,930 | 165,385 | 126,766 |
GROSS PROFIT: | ' | ' | ' | ' |
Product | 52,095 | 42,561 | 144,650 | 117,130 |
Services and other | 84,368 | 68,208 | 236,360 | 194,051 |
Total gross profit | 136,463 | 110,769 | 381,010 | 311,181 |
OPERATING EXPENSES: | ' | ' | ' | ' |
Research and development | 30,790 | 26,421 | 89,783 | 74,913 |
Sales and marketing | 80,433 | 56,687 | 222,576 | 162,660 |
General and administrative | 9,789 | 9,382 | 29,243 | 26,161 |
Total operating expenses | 121,012 | 92,490 | 341,602 | 263,734 |
OPERATING INCOME | 15,451 | 18,279 | 39,408 | 47,447 |
INTEREST INCOME | 1,339 | 1,282 | 3,991 | 3,988 |
OTHER EXPENSE—Net | -1,005 | -1,151 | -1,968 | -1,036 |
INCOME BEFORE INCOME TAXES | 15,785 | 18,410 | 41,431 | 50,399 |
PROVISION FOR INCOME TAXES | 11,729 | 7,381 | 22,901 | 18,142 |
NET INCOME | $4,056 | $11,029 | $18,530 | $32,257 |
Net income per share (Note 7): | ' | ' | ' | ' |
Basic (in dollars per share) | $0.02 | $0.07 | $0.11 | $0.20 |
Diluted (in dollars per share) | $0.02 | $0.07 | $0.11 | $0.19 |
Weighted-average shares outstanding: | ' | ' | ' | ' |
Basic (in shares) | 164,294 | 162,906 | 163,289 | 162,150 |
Diluted (in shares) | 169,727 | 168,666 | 168,735 | 168,054 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net income | $4,056 | $11,029 | $18,530 | $32,257 |
Other comprehensive (loss) income—net of taxes: | ' | ' | ' | ' |
Foreign currency translation (losses) gains | -432 | 912 | -333 | -901 |
Unrealized (losses) gains on investments | -977 | 600 | -993 | -826 |
Tax benefit (provision) related to items of other comprehensive loss or income | 342 | -209 | 348 | 289 |
Other comprehensive (loss) income—net of taxes | -1,067 | 1,303 | -978 | -1,438 |
Comprehensive income | $2,989 | $12,332 | $17,552 | $30,819 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net income | $18,530 | $32,257 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 16,519 | 11,511 |
Amortization of investment premiums | 6,680 | 8,900 |
Stock-based compensation | 42,313 | 31,784 |
Excess tax benefit from stock-based compensation | -4,325 | -2,504 |
Other non-cash items—net | 3,801 | 520 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable—Net | 13,140 | 589 |
Inventory | -11,095 | -31,344 |
Deferred tax assets | -12,186 | -14,806 |
Prepaid expenses and other current assets | -2,781 | 204 |
Other assets | -159 | 893 |
Accounts payable | 3,806 | 11,054 |
Accrued liabilities | 2,818 | 3,630 |
Other liabilities | 14,350 | -999 |
Accrued payroll and compensation | 5,651 | 1,400 |
Deferred revenue | 68,006 | 36,425 |
Income taxes payable | -3,850 | 11,202 |
Net cash provided by operating activities | 161,218 | 100,716 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Purchases of investments | -388,808 | -419,124 |
Sales of investments | 27,282 | 25,488 |
Maturities of investments | 371,837 | 303,852 |
Purchases of property and equipment | -26,802 | -6,729 |
Payments made in connection with acquisitions—net of cash acquired | -17 | -7,635 |
Net cash used in investing activities | -16,508 | -104,148 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of common stock | 40,529 | 24,470 |
Taxes paid related to net share settlement of equity awards | -8,506 | -966 |
Excess tax benefit from stock-based compensation | 4,325 | 2,504 |
Repurchase and retirement of common stock | -38,235 | 0 |
Net cash (used in) provided by financing activities | -1,887 | 26,008 |
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS | -600 | -1,005 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 142,223 | 21,571 |
CASH AND CASH EQUIVALENTS—Beginning of period | 115,873 | 122,975 |
CASH AND CASH EQUIVALENTS—End of period | 258,096 | 144,546 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ' | ' |
Cash paid for income taxes—net | 38,755 | 19,721 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' |
Liability for purchase of property and equipment and asset retirement obligations | 4,710 | 1,349 |
Liability incurred for repurchase of common stock | 379 | 0 |
Liability incurred in connection with business acquisition | $0 | $100 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Basis of Presentation and Preparation—The unaudited condensed consolidated financial statements of Fortinet, Inc. and its wholly owned subsidiaries (collectively, “we,” “us,” or “our”) have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) for interim financial information as well as the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements, and should be read in conjunction with our audited consolidated financial statements as of and for the fiscal year ended December 31, 2013, contained in our Annual Report on Form 10-K (“Form 10-K”) filed with the SEC on March 3, 2014. In the opinion of management, all adjustments, which includes normal recurring adjustments, considered necessary for a fair presentation have been included. All intercompany balances, transactions and cash flows have been eliminated. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the operating results for the full year or for any future periods. The condensed consolidated balance sheets as of December 31, 2013 are derived from the audited consolidated financial statements for the year ended December 31, 2013. | ||
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. | ||
There have been no material changes to our significant accounting policies as of and for the three and nine months ended September 30, 2014. During the first quarter of fiscal 2014, we prospectively modified the expected term calculation used in accounting for stock-based compensation expense and the estimated useful lives of building improvements, and furniture and fixtures. During the third quarter of fiscal 2014, we reevaluated the functional currency selection for certain of our international subsidiaries and prospectively applied the U.S. dollar. | ||
Stock-Based Compensation Expense—Beginning in the first quarter of fiscal 2014, we changed the methodology of calculating the expected term, which is one of the assumptions used in determining the fair value of our employee stock options under the Black Scholes option pricing model. The expected term represents the period that our stock-based awards are estimated to be outstanding. We believe that we have sufficient historical experience since becoming a publicly-traded company for estimating the expected term of the stock option awards, and therefore, we calculated our expected term based on historical experience instead of using the simplified method. | ||
Currency Translation Adjustment—Prior to the third quarter of fiscal 2014, the assets and liabilities of our international subsidiaries were translated into U.S. dollars using the applicable exchange rates. The resulting foreign translation adjustments were included in the consolidated balance sheets as a component of accumulated other comprehensive income (loss) and in the consolidated statements of comprehensive income. | ||
We reevaluated the selected functional currency of our international subsidiaries due to the nature of our business operations. We recorded the cumulative impact of the reevaluation of the functional currency in the condensed consolidated statement of operations for the three months ended September 30, 2014. The remeasurement of the assets and liabilities of all international subsidiaries will be recorded in the consolidated statement of operations prospectively. The impact of this reevaluation is not material for any of our previously issued financial statements. | ||
Property and Equipment—Property and equipment—net is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: | ||
Estimated Useful Lives | ||
Building and building improvements | 20 years | |
Evaluation units | 1 year | |
Computer equipment and software | 1-2 years | |
Furniture and fixtures | 3 - 5 years | |
Leasehold improvements | Shorter of useful life or lease term | |
In March 2014, we moved into our new corporate headquarters and estimated the useful life of the building and related improvements to be 20 years. The useful life of furniture and fixtures placed in service in the new building is estimated to be 3 to 5 years. | ||
Reclassification—Beginning in the first quarter of 2014, the amounts previously reported as Ratable and other revenue have been combined with the amounts previously reported as Services revenue in the condensed consolidated statements of operations. The combined amounts are now being presented as Services and other revenue in the condensed consolidated statements of operations. The related Cost of revenue and Gross profit, including prior period amounts, have also been combined to conform to the current period presentation. The Ratable and other revenue amounts, including the related Cost of revenue and Gross profit amounts, are not material, and the reclassification did not have any impact on our gross margin or net income. | ||
Recent Accounting Pronouncement—In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09 (Topic 606) - Revenue from Contracts with Customers (“ASU 2014-09”) to create a single, joint revenue standard that is consistent across all industries and markets for companies that prepare their financial statements in accordance with U.S. GAAP. Under ASU 2014-09, an entity is required to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services. ASU 2014-09 is effective for us beginning on January 1, 2017. We are currently evaluating the impact of ASU 2014-09 on our consolidated financial statements. |
Financial_Instruments_and_Fair
Financial Instruments and Fair Value Measurements | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | ' | |||||||||||||||||||||||||||||||
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
The following table summarizes our investments as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||
Corporate debt securities | $ | 587,087 | $ | 763 | $ | (606 | ) | $ | 587,244 | |||||||||||||||||||||||
Commercial paper | 58,250 | 4 | (1 | ) | 58,253 | |||||||||||||||||||||||||||
Municipal bonds | 33,260 | 42 | (25 | ) | 33,277 | |||||||||||||||||||||||||||
Certificates of deposit and term deposits | 21,143 | 1 | — | 21,144 | ||||||||||||||||||||||||||||
U.S. government and agency securities | 5,748 | 2 | (5 | ) | 5,745 | |||||||||||||||||||||||||||
Total available-for-sale securities | $ | 705,488 | $ | 812 | $ | (637 | ) | $ | 705,663 | |||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||
Corporate debt securities | $ | 603,185 | $ | 1,506 | $ | (374 | ) | $ | 604,317 | |||||||||||||||||||||||
Commercial paper | 69,356 | 7 | — | 69,363 | ||||||||||||||||||||||||||||
Municipal bonds | 38,815 | 48 | (20 | ) | 38,843 | |||||||||||||||||||||||||||
Certificates of deposit and term deposits | 12,645 | 3 | — | 12,648 | ||||||||||||||||||||||||||||
U.S. government and agency securities | 2,000 | 1 | — | 2,001 | ||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 726,001 | $ | 1,565 | $ | (394 | ) | $ | 727,172 | |||||||||||||||||||||||
The following table shows the gross unrealized losses and the related fair values of our investments that have been in a continuous unrealized loss position as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||
Corporate debt securities | $ | 244,554 | $ | (605 | ) | $ | 1,017 | $ | (1 | ) | $ | 245,571 | $ | (606 | ) | |||||||||||||||||
Commercial paper | 2,396 | (1 | ) | — | — | 2,396 | (1 | ) | ||||||||||||||||||||||||
Municipal bonds | 12,201 | (25 | ) | 2,000 | — | 14,201 | (25 | ) | ||||||||||||||||||||||||
U.S. government and agency securities | 4,745 | (5 | ) | — | — | 4,745 | (5 | ) | ||||||||||||||||||||||||
Total available-for-sale securities | $ | 263,896 | $ | (636 | ) | $ | 3,017 | $ | (1 | ) | $ | 266,913 | $ | (637 | ) | |||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||
Corporate debt securities | $ | 182,795 | $ | (374 | ) | $ | 500 | $ | — | $ | 183,295 | $ | (374 | ) | ||||||||||||||||||
Commercial paper | 7,897 | — | — | — | 7,897 | — | ||||||||||||||||||||||||||
Municipal bonds | 14,736 | (20 | ) | — | — | 14,736 | (20 | ) | ||||||||||||||||||||||||
Total available-for-sale securities | $ | 205,428 | $ | (394 | ) | $ | 500 | $ | — | $ | 205,928 | $ | (394 | ) | ||||||||||||||||||
The contractual maturities of our investments are as follows (in thousands): | ||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Due within one year | $ | 402,495 | $ | 375,497 | ||||||||||||||||||||||||||||
Due within one to three years | 303,168 | 351,675 | ||||||||||||||||||||||||||||||
Total | $ | 705,663 | $ | 727,172 | ||||||||||||||||||||||||||||
Available-for-sale securities are reported at fair value, with unrealized gains and losses, net of tax, included as a separate component of stockholders’ equity and in total comprehensive income. Realized gains and losses on available-for-sale securities are included in Other expense—net in our condensed consolidated statements of operations. | ||||||||||||||||||||||||||||||||
The unrealized losses on our available-for-sale securities were caused by fluctuations in market value and interest rates as a result of the economic environment. As the declines in market value are attributable to changes in market conditions and not credit quality, and because we have concluded currently that we neither intend to sell nor it is more likely than not that we will be required to sell these investments prior to a recovery of par value, we do not consider these investments to be other-than temporarily impaired as of September 30, 2014. | ||||||||||||||||||||||||||||||||
Realized gains and losses from the sale of available-for-sale securities were not significant in any of the periods presented. | ||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||||||||||||||
The following table presents the fair value of our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Aggregate | Quoted | Significant | Significant | Aggregate | Quoted | Significant | Significant | |||||||||||||||||||||||||
Fair | Prices in | Other | Other | Fair | Prices in | Other | Other | |||||||||||||||||||||||||
Value | Active | Observable | Unobservable | Value | Active | Observable | Unobservable | |||||||||||||||||||||||||
Markets For | Remaining | Remaining | Markets For | Remaining | Remaining | |||||||||||||||||||||||||||
Identical | Inputs | Inputs | Identical | Inputs | Inputs | |||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Corporate debt securities | $ | 587,244 | $ | — | $ | 587,244 | $ | — | $ | 604,317 | $ | — | $ | 604,317 | $ | — | ||||||||||||||||
Commercial paper | 58,253 | — | 58,253 | — | 71,363 | — | 71,363 | — | ||||||||||||||||||||||||
Municipal bonds | 33,277 | — | 33,277 | — | 38,843 | — | 38,843 | — | ||||||||||||||||||||||||
Certificates of deposit and term deposits | 21,144 | — | 21,144 | — | 12,648 | — | 12,648 | — | ||||||||||||||||||||||||
Money market funds | 20,125 | 20,125 | — | — | 5,724 | 5,724 | — | — | ||||||||||||||||||||||||
U.S. government and agency securities | 5,745 | 1,998 | 3,747 | — | 2,001 | — | 2,001 | — | ||||||||||||||||||||||||
Total | $ | 725,788 | $ | 22,123 | $ | 703,665 | $ | — | $ | 734,896 | $ | 5,724 | $ | 729,172 | $ | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | — | $ | — | $ | 1,850 | $ | — | $ | — | $ | 1,850 | ||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 1,850 | $ | — | $ | — | $ | 1,850 | ||||||||||||||||
Reported as: | ||||||||||||||||||||||||||||||||
Cash equivalents | $ | 20,125 | $ | 7,724 | ||||||||||||||||||||||||||||
Short-term investments | 402,495 | 375,497 | ||||||||||||||||||||||||||||||
Long-term investments | 303,168 | 351,675 | ||||||||||||||||||||||||||||||
Total | $ | 725,788 | $ | 734,896 | ||||||||||||||||||||||||||||
We classify investments within Level 1 if quoted prices are available in active markets for identical securities. | ||||||||||||||||||||||||||||||||
We classify items within Level 2 if the investments are valued using model driven valuations using observable inputs such as quoted market prices, benchmark yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Investments are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models. | ||||||||||||||||||||||||||||||||
There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the three and nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||
We classified the fair value of contingent consideration arising from the acquisition of Coyote Point Systems, Inc. (“Coyote”) (see Note 5), as a Level 3 liability since it is based on a probability-based income approach that includes significant unobservable inputs. The significant unobservable inputs include projected revenues and the percentage probability of occurrence to determine the fair value of the payment. | ||||||||||||||||||||||||||||||||
The change in the fair value of our contingent consideration liability was as follows (in thousands): | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | $1,850 | |||||||||||||||||||||||||||||||
Less change in fair value of contingent consideration | -1,143 | |||||||||||||||||||||||||||||||
As of March 31, 2014 | 707 | |||||||||||||||||||||||||||||||
Less change in fair value of contingent consideration | -707 | |||||||||||||||||||||||||||||||
As of September 30, 2014 | $— | |||||||||||||||||||||||||||||||
Decreases in the projected revenues of Coyote following the acquisition resulted in reductions to the fair value of the contingent consideration and the changes are included in research and development expense in the condensed consolidated statements of operations. | ||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||||||||||||||||||||
We measure certain assets, including Goodwill, Other intangible assets—net, and investments in privately-held companies at fair value on a nonrecurring basis when there are identifiable events or changes in circumstances that may have a significant adverse impact on the fair value of these assets. | ||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2014, a decrease in the projected cash flow from Coyote resulted in an impairment charge of $2.4 million to adjust the total fair value of the other intangible assets acquired from Coyote to $2.0 million. The impairment charge is included within Cost of product revenue in the condensed consolidated statements of operations. | ||||||||||||||||||||||||||||||||
We classified the intangible assets acquired from Coyote as Level 3 assets due to the lack of observable inputs to determine fair value. Significant inputs used in the determination of fair value based on the probability-weighted income approach primarily include internal cash flow projections and discount rates. | ||||||||||||||||||||||||||||||||
As of December 31, 2013, we did not have any assets or liabilities measured at fair value on a nonrecurring basis. |
Inventory
Inventory | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
INVENTORY | ' | |||||||
INVENTORY | ||||||||
Inventory consisted of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Raw materials | $ | 5,922 | $ | 4,319 | ||||
Finished goods | 40,370 | 40,093 | ||||||
Consigned inventory | 5,052 | 4,260 | ||||||
Inventory | $ | 51,344 | $ | 48,672 | ||||
Property_and_EquipmentNet
Property and Equipment—Net | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
PROPERTY AND EQUIPMENT—Net | ' | |||||||
PROPERTY AND EQUIPMENT—Net | ||||||||
Property and equipment—net consisted of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Land | $ | 13,895 | $ | 13,895 | ||||
Building and building improvements | 17,546 | 610 | ||||||
Evaluation units | 29,181 | 23,442 | ||||||
Computer equipment and software | 31,010 | 23,556 | ||||||
Furniture and fixtures | 4,655 | 1,697 | ||||||
Construction-in-progress | 5,326 | 10,947 | ||||||
Leasehold improvements | 7,595 | 4,303 | ||||||
Total property and equipment | 109,208 | 78,450 | ||||||
Less: accumulated depreciation | (52,396 | ) | (41,798 | ) | ||||
Property and equipment—net | $ | 56,812 | $ | 36,652 | ||||
Beginning in the first quarter of 2014, we reclassified certain fixed assets between categories in the table above to better reflect the nature of these fixed assets. Prior period amounts have also been reclassified to conform to the current period presentation. The impact of the reclassification is not material. | ||||||||
Depreciation expense was $5.4 million and $3.8 million during the three months ended September 30, 2014 and September 30, 2013, respectively. Depreciation expense was $15.3 million and $10.4 million during the nine months ended September 30, 2014 and September 30, 2013, respectively. |
Business_Combinations
Business Combinations | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Business Combinations [Abstract] | ' | |||
BUSINESS COMBINATIONS | ' | |||
BUSINESS COMBINATIONS | ||||
Coyote Point Systems | ||||
On March 21, 2013, we acquired all of the outstanding equity securities of Coyote, a provider of application delivery, load balancing and acceleration solutions, for $6.0 million in cash. The acquisition also included a contingent obligation for up to $5.5 million in future earn-out payments to former stockholders of Coyote, if specified future operational objectives, service conditions and financial results are met within two years of the acquisition date. As of September 30, 2014, we have estimated that no contingent earn-out payment thresholds will be met. | ||||
We accounted for this acquisition as a purchase of a business and, accordingly, the total purchase price was allocated to Coyote’s identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The fair value assigned to the intangible assets acquired was determined using the income approach which discounts expected cash flows to present value using our estimates and assumptions. | ||||
The following table summarizes the fair value of assets acquired and liabilities assumed (in thousands): | ||||
Cash and cash equivalents | $ | 206 | ||
Other current assets | 501 | |||
Finite-lived intangible assets | 2,800 | |||
Indefinite-lived intangible assets | 2,600 | |||
Goodwill | 2,824 | |||
Other assets | 88 | |||
Total assets acquired | 9,019 | |||
Current liabilities | 1,030 | |||
Long-term liabilities | 2,004 | |||
Total liabilities assumed | 3,034 | |||
Total purchase price | $ | 5,985 | ||
Of the total acquired identified intangible assets, we allocated $2.3 million to developed technology, $0.5 million to customer relationships, and $2.6 million to in-process research and development (“IPR&D”) as of the acquisition date. Identified finite-lived intangible assets consist of developed technology and customer relationships that are being amortized as cost of revenue and sales and marketing expense, respectively, ratably on a straight-line basis, each over an estimated useful life of six years. The goodwill of $2.8 million represents the premium we paid over the fair value of the net tangible liabilities assumed and identified intangible assets acquired, due primarily to acquire developed and in-process technology. None of the goodwill recognized as a result of the acquisition is deductible for income tax purposes. The financial results of this acquisition were considered immaterial for purposes of pro-forma financial disclosures. During the three months ended September 30, 2013, we completed the development of technology associated with the IPR&D projects, and started amortizing this developed technology as cost of revenue ratably on a straight-line basis over an estimated remaining useful life of approximately five years. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets—Net | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS - NET | ' | |||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS—Net | ||||||||||||
We recorded $2.8 million of goodwill from the acquisition of Coyote. There were no impairments to goodwill during the three and nine months ended September 30, 2014. | ||||||||||||
During the nine months ended September 30, 2014, we reassessed the fair value and the remaining useful life of the developed technologies acquired from Coyote. Based on this reassessment, we recorded an impairment charge of $2.4 million to adjust the total fair value of the other intangible assets acquired from Coyote to $2.0 million. The impairment charge is included within Cost of product revenue in the condensed consolidated statements of operations. Subsequent to the impairment, the remaining carrying value of the Coyote developed technologies will be amortized on a straight-line basis over an estimated remaining useful life of approximately five years. | ||||||||||||
The following tables present other intangible assets—net (in thousands): | ||||||||||||
September 30, 2014 | ||||||||||||
Gross | Accumulated Amortization | Net | ||||||||||
Other intangible assets—net: | ||||||||||||
Developed technology | $ | 5,606 | $ | 2,877 | $ | 2,729 | ||||||
Customer relationships | 500 | 125 | 375 | |||||||||
Total other intangible assets—net | $ | 6,106 | $ | 3,002 | $ | 3,104 | ||||||
December 31, 2013 | ||||||||||||
Gross | Accumulated Amortization | Net | ||||||||||
Other intangible assets—net: | ||||||||||||
Developed technology | $ | 8,971 | $ | 2,568 | $ | 6,403 | ||||||
Customer relationships | 500 | 62 | 438 | |||||||||
Total other intangible assets—net | $ | 9,471 | $ | 2,630 | $ | 6,841 | ||||||
Amortization expense was $0.2 million and $0.4 million during the three months ended September 30, 2014 and September 30, 2013, respectively. Amortization expense was $1.2 million and $1.1 million for the nine months ended September 30, 2014 and September 30, 2013, respectively. The following table summarizes estimated future amortization expense of Other intangible assets—net (in thousands): | ||||||||||||
Amount | ||||||||||||
Years Ending December 31: | ||||||||||||
2014 (remainder) | $ | 273 | ||||||||||
2015 | 1,091 | |||||||||||
2016 | 785 | |||||||||||
2017 | 425 | |||||||||||
2018 | 425 | |||||||||||
Thereafter | 105 | |||||||||||
Total | $ | 3,104 | ||||||||||
Net_Income_Per_Share
Net Income Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
NET INCOME PER SHARE | ' | |||||||||||||||
NET INCOME PER SHARE | ||||||||||||||||
Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding, plus the dilutive effects of stock options, restricted stock units (“RSUs”), and the employee stock purchase plan (“ESPP”). Dilutive shares of common stock are determined by applying the treasury stock method. | ||||||||||||||||
A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income per share is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 4,056 | $ | 11,029 | $ | 18,530 | $ | 32,257 | ||||||||
Denominator: | ||||||||||||||||
Basic shares: | ||||||||||||||||
Weighted-average common stock outstanding-basic | 164,294 | 162,906 | 163,289 | 162,150 | ||||||||||||
Diluted shares: | ||||||||||||||||
Weighted-average common stock outstanding-basic | 164,294 | 162,906 | 163,289 | 162,150 | ||||||||||||
Effect of potentially dilutive securities: | ||||||||||||||||
Stock options | 4,405 | 5,525 | 4,728 | 5,844 | ||||||||||||
RSUs | 993 | 213 | 692 | 50 | ||||||||||||
ESPP | 35 | 22 | 26 | 10 | ||||||||||||
Weighted-average shares used to compute diluted net income per share | 169,727 | 168,666 | 168,735 | 168,054 | ||||||||||||
Net income per share: | ||||||||||||||||
Basic | $ | 0.02 | $ | 0.07 | $ | 0.11 | $ | 0.2 | ||||||||
Diluted | $ | 0.02 | $ | 0.07 | $ | 0.11 | $ | 0.19 | ||||||||
The following weighted-average shares of common stock were excluded from the computation of diluted net income per share for the periods presented, as their effect would have been antidilutive (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Stock options | 3,023 | 6,640 | 4,101 | 7,364 | ||||||||||||
RSUs | 696 | 1,416 | 879 | 2,383 | ||||||||||||
ESPP | 226 | 407 | 133 | 399 | ||||||||||||
3,945 | 8,463 | 5,113 | 10,146 | |||||||||||||
Deferred_Revenue
Deferred Revenue | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Deferred Revenue Disclosure [Abstract] | ' | |||||||
DEFERRED REVENUE | ' | |||||||
DEFERRED REVENUE | ||||||||
Deferred revenue consisted of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Product | $ | 2,685 | $ | 2,915 | ||||
Services and other | 497,327 | 429,713 | ||||||
Total deferred revenue | $ | 500,012 | $ | 432,628 | ||||
Reported As: | ||||||||
Current | $ | 329,132 | $ | 293,664 | ||||
Non-current | 170,880 | 138,964 | ||||||
Total deferred revenue | $ | 500,012 | $ | 432,628 | ||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||||||||||
The following table summarizes our future principal contractual obligations as of September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||
Total | 2014 (remainder) | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||||||||||
Operating lease commitments | $ | 39,575 | $ | 2,495 | $ | 9,411 | $ | 7,590 | $ | 6,649 | $ | 5,467 | $ | 7,963 | ||||||||||||||
Less: Sublease rental income | 642 | 193 | 449 | — | — | — | — | |||||||||||||||||||||
Operating lease commitments—net | 38,933 | 2,302 | 8,962 | 7,590 | 6,649 | 5,467 | 7,963 | |||||||||||||||||||||
Purchase commitments | 76,355 | 53,006 | 23,349 | — | — | — | — | |||||||||||||||||||||
Other contractual commitments | 24,176 | 19,530 | 3,592 | 813 | 241 | — | — | |||||||||||||||||||||
Total | $ | 139,464 | $ | 74,838 | $ | 35,903 | $ | 8,403 | $ | 6,890 | $ | 5,467 | $ | 7,963 | ||||||||||||||
Operating Leases—We lease certain facilities under various non-cancelable operating leases, which expire through 2024. The terms of certain operating leases provide for renewal options. Rent expense is recognized using the straight-line method over the term of the lease. Rent expense was $2.6 million and $2.4 million during the three months ended September 30, 2014 and September 30, 2013, respectively. Rent expense was $7.7 million and $7.1 million during the nine months ended September 30, 2014 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||
Purchase Commitments and Other Contractual Commitments—In order to reduce manufacturing lead times and plan for adequate component supply, we may issue purchase orders to some of our independent contract manufacturers which may not be cancelable. As of September 30, 2014, we had $76.4 million of open purchase orders with our independent contract manufacturers that may not be cancelable. | ||||||||||||||||||||||||||||
In addition to commitments with contract manufacturers, we have open purchase orders and contractual obligations in the ordinary course of business for which we have not received goods or services. As of September 30, 2014, we had $24.2 million in other purchase commitments. | ||||||||||||||||||||||||||||
Warranties—Accrued warranty activities are summarized as follows (in thousands): | ||||||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Accrued warranty balance—beginning of the period | $ | 3,037 | $ | 2,309 | ||||||||||||||||||||||||
Warranty costs incurred | (2,597 | ) | (2,670 | ) | ||||||||||||||||||||||||
Provision for warranty for the period | 3,786 | 3,134 | ||||||||||||||||||||||||||
Adjustment related to pre-existing warranties | (540 | ) | 274 | |||||||||||||||||||||||||
Accrued warranty balance—end of the period | $ | 3,686 | $ | 3,047 | ||||||||||||||||||||||||
Litigation—We are involved in disputes, litigation, and other legal actions. For lawsuits where we are the defendant, we are in the process of defending these litigation matters, and while there can be no assurances and the outcome of these matters is currently not determinable, we currently believe that there are no existing claims or proceedings that are likely to have a material adverse effect on our financial position. There are many uncertainties associated with any litigation and these actions or other third-party claims against us may cause us to incur costly litigation or substantial settlement charges. In addition, the resolution of any intellectual property litigation may require us to make royalty payments, which could adversely affect our gross margins in future periods. If any of those events were to occur, our business, financial condition, results of operations, and cash flows could be adversely affected. The actual liability in any such matters may be materially different from our estimates, if any, which could result in the need to adjust the liability and record additional expenses. We have not recorded any accrual for loss contingencies associated with such legal proceedings; determined that an unfavorable outcome is probable or reasonably possible; or determined that the amount or range of any possible loss is reasonably estimable. | ||||||||||||||||||||||||||||
Indemnification—Under the indemnification provisions of our standard sales contracts, we agree to defend our customers against third-party claims asserting infringement of certain intellectual property rights, which may include patents, copyrights, trademarks, or trade secrets, and to pay judgments entered on such claims. Our exposure under these indemnification provisions is generally limited by the terms of our contracts to the total amount paid by our customer under the agreement. However, certain agreements include indemnification provisions beyond indemnification for third-party claims of intellectual property infringement and that could potentially expose us to losses in excess of the amount received under the agreement. To date, there have been no awards under such indemnification provisions. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
STOCKHOLDERS' EQUITY | ' | |||||||||||||||
STOCKHOLDERS’ EQUITY | ||||||||||||||||
Employee Stock Options | ||||||||||||||||
The following table summarizes the weighted-average assumptions relating to our employee stock options for the periods presented below: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Expected term in years | 4.9 | 4.6 | 4.9 | 4.6 | ||||||||||||
Volatility | 40.7 | % | 47.8 | % | 43.1 | % | 47.8 | % | ||||||||
Risk-free interest rate | 1.6 | % | 1.2 | % | 1.7 | % | 1.2 | % | ||||||||
Dividend rate | — | — | — | — | ||||||||||||
The following table summarizes the stock option activity and related information for the periods presented below (in thousands, except exercise prices and contractual life): | ||||||||||||||||
Options Outstanding | ||||||||||||||||
Number | Weighted- | Weighted- | Aggregate | |||||||||||||
of Shares | Average | Average | Intrinsic | |||||||||||||
Exercise | Remaining | Value | ||||||||||||||
Price | Contractual | |||||||||||||||
Life (Years) | ||||||||||||||||
Balance—December 31, 2013 | 15,521 | $ | 13.18 | |||||||||||||
Granted | 320 | 22.36 | ||||||||||||||
Forfeited | (390 | ) | 24.15 | |||||||||||||
Exercised | (3,216 | ) | 8.25 | |||||||||||||
Balance—September 30, 2014 | 12,235 | 14.37 | ||||||||||||||
Options vested and expected to vest—September 30, 2014 | 12,205 | $ | 14.35 | 2.82 | $ | 136,230 | ||||||||||
Options exercisable—September 30, 2014 | 10,244 | $ | 12.59 | 2.48 | $ | 131,847 | ||||||||||
The aggregate intrinsic value represents the pre-tax difference between the exercise price of stock options and the quoted market price of our common stock on September 30, 2014, for all in-the-money options. As of September 30, 2014, total compensation expense related to unvested stock options granted to employees but not yet recognized was $22.9 million, net of estimated forfeitures. This expense is expected to be amortized on a straight-line basis over a weighted-average period of 1.47 years. | ||||||||||||||||
Additional information related to our stock options is summarized below (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Weighted-average fair value per share granted | $ | 9.13 | $ | 8.61 | $ | 8.76 | $ | 8.61 | ||||||||
Intrinsic value of options exercised | $ | 17,728 | $ | 7,880 | $ | 49,490 | $ | 36,997 | ||||||||
Fair value of options vested | $ | 4,393 | $ | 5,063 | $ | 13,163 | $ | 21,553 | ||||||||
Restricted Stock Units | ||||||||||||||||
The following table summarizes the activity and related information for RSUs for the periods presented below (in thousands, except per share amounts): | ||||||||||||||||
Restricted Stock Units Outstanding | ||||||||||||||||
Number of Shares | Weighted-Average Grant-Date-Fair Value per Share | |||||||||||||||
Balance—December 31, 2013 | 4,199 | $ | 22 | |||||||||||||
Granted | 3,359 | 22.44 | ||||||||||||||
Forfeited | (342 | ) | 21.85 | |||||||||||||
Vested | (1,197 | ) | 22.31 | |||||||||||||
Balance—September 30, 2014 | 6,019 | $ | 22.27 | |||||||||||||
RSUs expected to vest—September 30, 2014 | 5,699 | $ | 22.27 | |||||||||||||
As of September 30, 2014, total compensation expense related to unvested RSUs that were granted to employees and non-employees under our 2009 Equity Incentive Plan, but not yet recognized, was $128.3 million, net of estimated forfeitures. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 3.02 years. | ||||||||||||||||
The following summarizes the number and value of the shares withheld for employee taxes (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Shares withheld for taxes | 124 | 45 | 381 | 45 | ||||||||||||
Amount withheld for taxes | $ | 2,985 | $ | 966 | $ | 8,506 | $ | 966 | ||||||||
Employee Stock Purchase Plan | ||||||||||||||||
In determining the fair value of our ESPP, we use the Black-Scholes option pricing model that employs the following weighted-average assumptions: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Expected term in years | 0.5 | 0.5 | 0.5 | 0.5 | ||||||||||||
Volatility | 31.9 | % | 35.1 | % | 34.1 | % | 44 | % | ||||||||
Risk-free interest rate | 0.1 | % | 0.1 | % | 0.1 | % | 0.1 | % | ||||||||
Dividend rate | — | — | — | — | ||||||||||||
Additional information related to the ESPP is provided below (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Weighted-average fair value per share granted | $ | 6.03 | $ | 5.04 | $ | 5.91 | $ | 6.11 | ||||||||
Shares issued under the ESPP | 346 | 344 | 770 | 672 | ||||||||||||
Weighted-average price per share issued | $ | 19.38 | $ | 17.9 | $ | 18.17 | $ | 18.88 | ||||||||
Stock-based Compensation Expense | ||||||||||||||||
Stock-based compensation expense is included in costs and expenses as follows (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Cost of product revenue | $ | 60 | $ | 91 | $ | 351 | $ | 277 | ||||||||
Cost of services and other revenue | 1,522 | 1,297 | 4,214 | 3,543 | ||||||||||||
Research and development | 4,505 | 3,548 | 12,558 | 9,605 | ||||||||||||
Sales and marketing | 7,397 | 5,215 | 18,890 | 13,927 | ||||||||||||
General and administrative | 1,183 | 1,627 | 6,300 | 4,432 | ||||||||||||
Total stock-based compensation expense | $ | 14,667 | $ | 11,778 | $ | 42,313 | $ | 31,784 | ||||||||
The following table summarizes stock-based compensation expense by award type (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Stock options | $ | 4,282 | $ | 5,180 | $ | 13,395 | $ | 15,801 | ||||||||
RSUs | 9,275 | 5,408 | 25,886 | 12,439 | ||||||||||||
ESPP | 1,110 | 1,190 | 3,032 | 3,544 | ||||||||||||
Total stock-based compensation expense | $ | 14,667 | $ | 11,778 | $ | 42,313 | $ | 31,784 | ||||||||
Total income tax benefit associated with stock-based compensation that is included as part of the provision for income taxes in the condensed consolidated statements of operations is as follows (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income tax benefit associated with stock-based compensation | $ | 4,225 | $ | 3,176 | $ | 11,821 | $ | 9,557 | ||||||||
Share Repurchase Program | ||||||||||||||||
On December 6, 2013, our Board of Directors (“Board”) authorized a Share Repurchase Program (“Program”) to repurchase up to $200.0 million of our outstanding common stock through December 31, 2014. Under the Program, share repurchases may be made by us from time to time in privately negotiated transactions or in open market transactions. The Program may be suspended, modified or discontinued at any time without prior notice. During the three and nine months ended September 30, 2014, we repurchased 0.4 million and 1.4 million shares of common stock under the Program in open market transactions for an aggregate purchase price of $10.7 million and $33.2 million, respectively. As of September 30, 2014, $127.9 million remained authorized for future share repurchases under the Program. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
INCOME TAXES | |
The effective tax rate was 74% for the three months ended September 30, 2014, compared to an effective tax rate of 40% for the three months ended September 30, 2013. The effective tax rate was 55% for the nine months ended September 30, 2014, compared to an effective tax of 36% for the nine months ended September 30, 2013. The provision for income taxes for the periods presented is comprised of U.S. federal and state taxes, Singapore and other foreign income taxes, withholding tax, discrete taxes resulting from an increase in tax reserves, as well as the inclusion of stock compensation benefits and transfer pricing allocations which impact jurisdictional income taxed at various tax rates. | |
As of September 30, 2014 and December 31, 2013, unrecognized tax benefits were $39.4 million and $30.2 million, respectively. The total amount of $39.4 million in unrecognized tax benefits, if recognized, would favorably impact the effective tax rate. | |
It is our policy to classify accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of September 30, 2014, we had accrued approximately $1.6 million for estimated interest related to uncertain tax positions. |
Defined_Contribution_plans
Defined Contribution plans | 9 Months Ended |
Sep. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ' |
DEFINED CONTRIBUTION PLANS | ' |
DEFINED CONTRIBUTION PLANS | |
Our tax-deferred savings plan, under the 401(k) Plan, allows participating employees to defer a portion of their pre-tax earnings, up to the IRS annual contribution limit. In Canada, we have a Group Registered Retirement Savings Plan program (the “RRSP”) which permits participants to make tax deductible contributions up to the maximum contribution limits under the Income Tax Act. Our Board approved 50% matching contributions on employee contributions up to 4% of each employee’s eligible earnings. Our matching contributions to the 401(k) Plans and RRSP for the three months ended September 30, 2014 and September 30, 2013 were $0.7 million and $0.6 million, respectively. Our matching contributions to the 401(k) Plans and RRSP for the nine months ended September 30, 2014 and September 30, 2013 were $1.9 million and $1.6 million, respectively. |
Segment_and_Significant_Custom
Segment and Significant Customer Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
SEGMENT AND SIGNIFICNT CUSTOMER INFORMATION | ' | |||||||||||||||
SEGMENT AND SIGNIFICANT CUSTOMER INFORMATION | ||||||||||||||||
The following table sets forth revenue by geographic region (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
Revenue | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Americas: | ||||||||||||||||
United States | $ | 50,329 | $ | 40,654 | $ | 144,794 | $ | 114,257 | ||||||||
Other Americas | 31,889 | 24,794 | 88,241 | 63,844 | ||||||||||||
Total Americas | 82,218 | 65,448 | 233,035 | 178,101 | ||||||||||||
Europe, Middle East, and Africa (“EMEA”) | 66,157 | 51,373 | 185,354 | 149,500 | ||||||||||||
Asia Pacific and Japan (“APAC”) | 44,973 | 37,878 | 128,006 | 110,346 | ||||||||||||
Total revenue | $ | 193,348 | $ | 154,699 | $ | 546,395 | $ | 437,947 | ||||||||
The following customers, each of which is a distributor, accounted for 10% or more of our net revenues: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Exclusive Networks Group | 15 | % | 11 | % | 14 | % | 11 | % | ||||||||
Fine Tec Computer | 11 | % | — | — | — | |||||||||||
The following customers, each of which is a distributor, accounted for 10% or more of net accounts receivable: | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Exclusive Networks Group | 13 | % | 13 | % | ||||||||||||
Fine Tec Computer | 15 | % | — | |||||||||||||
The following table sets forth property and equipment by geographic region (in thousands): | ||||||||||||||||
Property and Equipment—Net | September 30, | December 31, | ||||||||||||||
2014 | 2013 | |||||||||||||||
Americas: | ||||||||||||||||
United States | $ | 45,234 | $ | 29,334 | ||||||||||||
Canada | 5,884 | 4,372 | ||||||||||||||
Other Americas | 411 | 45 | ||||||||||||||
Total Americas | 51,529 | 33,751 | ||||||||||||||
EMEA | 2,221 | 1,273 | ||||||||||||||
APAC | 3,062 | 1,628 | ||||||||||||||
Total property and equipment—net | $ | 56,812 | $ | 36,652 | ||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME | ' | |||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||||||||
The following table summarizes the changes in accumulated balances of other comprehensive income for the nine months ended September 30, 2014 (in thousands): | ||||||||||||||||
30-Sep-14 | ||||||||||||||||
Foreign Currency Translation Gains And Losses | Unrealized Gains And Losses On Investments | Tax Benefit Or Provision Related To Items Of Other Comprehensive Income Or Loss | Total | |||||||||||||
Balance as of December 31, 2013 | $ | 333 | $ | 1,168 | $ | (409 | ) | $ | 1,092 | |||||||
Other comprehensive income before reclassifications | (333 | ) | (984 | ) | 345 | (972 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income | — | (9 | ) | 3 | (6 | ) | ||||||||||
Net current-period other comprehensive income | (333 | ) | (993 | ) | 348 | (978 | ) | |||||||||
Balance as of September 30, 2014 | $ | — | $ | 175 | $ | (61 | ) | $ | 114 | |||||||
The following table provides details about the reclassification out of accumulated other comprehensive income for the nine months ended September 30, 2014 (in thousands): | ||||||||||||||||
30-Sep-14 | ||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Amount Reclassified From Accumulated Other Comprehensive Income | Affected Line Item In The Statement Where Net Income Is Presented | ||||||||||||||
Unrealized gains on investments | $ | (9 | ) | Other expense—net | ||||||||||||
Tax provision related to items of other comprehensive income or loss | 3 | Provision for income taxes | ||||||||||||||
Total reclassification for the period | $ | (6 | ) |
Foreign_Currency_Derivatives
Foreign Currency Derivatives | 9 Months Ended | |||||
Sep. 30, 2014 | ||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||
FOREIGN CURRENCY DERIVATIVES | ' | |||||
FOREIGN CURRENCY DERIVATIVES | ||||||
Foreign Currency Derivatives—Our sales contracts are primarily denominated in U.S. dollars and therefore substantially all of our revenue is not subject to foreign currency translation risk. However, a substantial portion of our operating expenses incurred outside the U.S. are denominated in foreign currencies and are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Canadian dollar (“CAD”). To help protect against significant fluctuations in value and the volatility of future cash flows caused by changes in currency exchange rates, we engage in foreign currency risk management activities, including forward contracts, to hedge balance sheet items denominated in CAD. We do not use these contracts for speculative or trading purposes. All of the derivative instruments are with high quality financial institutions and we monitor the creditworthiness of these parties. These contracts typically have maturities of one month. We record changes in the fair value of forward exchange contracts related to balance sheet accounts as Other (expense) income—net in the consolidated statement of operations. | ||||||
Additionally, independent of any hedging activities, fluctuations in foreign currency exchange rates may cause us to recognize transaction gains and losses in Other (expense) income—net in our condensed consolidated statements of operations. Our hedging activities are intended to reduce, but not eliminate, the impact of currency exchange rate movements. As our hedging activities are relatively short-term in nature and are focused on CAD, long-term material changes in the value of the U.S. dollar against other foreign currencies, such as the GBP and EUR could adversely impact our operating expenses in the future. | ||||||
The notional amount of forward exchange contracts to hedge balance sheet accounts as of September 30, 2014 and December 31, 2013 were (in thousands): | ||||||
Buy/Sell | Notional | |||||
Currency—As of September 30, 2014 | ||||||
CAD | Buy | $ | 13,242 | |||
Currency—As of December 31, 2013 | ||||||
CAD | Buy | $ | 21,867 | |||
Subsequent_Event
Subsequent Event | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
SUBSEQUENT EVENT | |
On October 17, 2014, our Board extended the share repurchase authorization under the Program through December 31, 2015. As of October 17, 2014, $124.9 million remained authorized for future share repurchases under the Program. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |
Sep. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation and Preparation | ' | |
Basis of Presentation and Preparation—The unaudited condensed consolidated financial statements of Fortinet, Inc. and its wholly owned subsidiaries (collectively, “we,” “us,” or “our”) have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”) for interim financial information as well as the instructions to Form 10-Q pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements, and should be read in conjunction with our audited consolidated financial statements as of and for the fiscal year ended December 31, 2013, contained in our Annual Report on Form 10-K (“Form 10-K”) filed with the SEC on March 3, 2014. In the opinion of management, all adjustments, which includes normal recurring adjustments, considered necessary for a fair presentation have been included. All intercompany balances, transactions and cash flows have been eliminated. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the operating results for the full year or for any future periods. The condensed consolidated balance sheets as of December 31, 2013 are derived from the audited consolidated financial statements for the year ended December 31, 2013. | ||
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. | ||
There have been no material changes to our significant accounting policies as of and for the three and nine months ended September 30, 2014. During the first quarter of fiscal 2014, we prospectively modified the expected term calculation used in accounting for stock-based compensation expense and the estimated useful lives of building improvements, and furniture and fixtures. During the third quarter of fiscal 2014, we reevaluated the functional currency selection for certain of our international subsidiaries and prospectively applied the U.S. dollar. | ||
Stock-Based Compensation Expense | ' | |
Stock-Based Compensation Expense—Beginning in the first quarter of fiscal 2014, we changed the methodology of calculating the expected term, which is one of the assumptions used in determining the fair value of our employee stock options under the Black Scholes option pricing model. The expected term represents the period that our stock-based awards are estimated to be outstanding. We believe that we have sufficient historical experience since becoming a publicly-traded company for estimating the expected term of the stock option awards, and therefore, we calculated our expected term based on historical experience instead of using the simplified method. | ||
Currency Translation Adjustment | ' | |
Currency Translation Adjustment—Prior to the third quarter of fiscal 2014, the assets and liabilities of our international subsidiaries were translated into U.S. dollars using the applicable exchange rates. The resulting foreign translation adjustments were included in the consolidated balance sheets as a component of accumulated other comprehensive income (loss) and in the consolidated statements of comprehensive income. | ||
We reevaluated the selected functional currency of our international subsidiaries due to the nature of our business operations. We recorded the cumulative impact of the reevaluation of the functional currency in the condensed consolidated statement of operations for the three months ended September 30, 2014. The remeasurement of the assets and liabilities of all international subsidiaries will be recorded in the consolidated statement of operations prospectively. The impact of this reevaluation is not material for any of our previously issued financial statements. | ||
Property and Equipment | ' | |
Property and Equipment—Property and equipment—net is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows: | ||
Estimated Useful Lives | ||
Building and building improvements | 20 years | |
Evaluation units | 1 year | |
Computer equipment and software | 1-2 years | |
Furniture and fixtures | 3 - 5 years | |
Leasehold improvements | Shorter of useful life or lease term | |
In March 2014, we moved into our new corporate headquarters and estimated the useful life of the building and related improvements to be 20 years. The useful life of furniture and fixtures placed in service in the new building is estimated to be 3 to 5 years. | ||
Reclassification | ' | |
Reclassification—Beginning in the first quarter of 2014, the amounts previously reported as Ratable and other revenue have been combined with the amounts previously reported as Services revenue in the condensed consolidated statements of operations. The combined amounts are now being presented as Services and other revenue in the condensed consolidated statements of operations. The related Cost of revenue and Gross profit, including prior period amounts, have also been combined to conform to the current period presentation. The Ratable and other revenue amounts, including the related Cost of revenue and Gross profit amounts, are not material, and the reclassification did not have any impact on our gross margin or net income. |
Financial_Instruments_and_Fair1
Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Summary of Investments [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table summarizes our investments as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||
Corporate debt securities | $ | 587,087 | $ | 763 | $ | (606 | ) | $ | 587,244 | |||||||||||||||||||||||
Commercial paper | 58,250 | 4 | (1 | ) | 58,253 | |||||||||||||||||||||||||||
Municipal bonds | 33,260 | 42 | (25 | ) | 33,277 | |||||||||||||||||||||||||||
Certificates of deposit and term deposits | 21,143 | 1 | — | 21,144 | ||||||||||||||||||||||||||||
U.S. government and agency securities | 5,748 | 2 | (5 | ) | 5,745 | |||||||||||||||||||||||||||
Total available-for-sale securities | $ | 705,488 | $ | 812 | $ | (637 | ) | $ | 705,663 | |||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||
Corporate debt securities | $ | 603,185 | $ | 1,506 | $ | (374 | ) | $ | 604,317 | |||||||||||||||||||||||
Commercial paper | 69,356 | 7 | — | 69,363 | ||||||||||||||||||||||||||||
Municipal bonds | 38,815 | 48 | (20 | ) | 38,843 | |||||||||||||||||||||||||||
Certificates of deposit and term deposits | 12,645 | 3 | — | 12,648 | ||||||||||||||||||||||||||||
U.S. government and agency securities | 2,000 | 1 | — | 2,001 | ||||||||||||||||||||||||||||
Total available-for-sale securities | $ | 726,001 | $ | 1,565 | $ | (394 | ) | $ | 727,172 | |||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table shows the gross unrealized losses and the related fair values of our investments that have been in a continuous unrealized loss position as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||
Corporate debt securities | $ | 244,554 | $ | (605 | ) | $ | 1,017 | $ | (1 | ) | $ | 245,571 | $ | (606 | ) | |||||||||||||||||
Commercial paper | 2,396 | (1 | ) | — | — | 2,396 | (1 | ) | ||||||||||||||||||||||||
Municipal bonds | 12,201 | (25 | ) | 2,000 | — | 14,201 | (25 | ) | ||||||||||||||||||||||||
U.S. government and agency securities | 4,745 | (5 | ) | — | — | 4,745 | (5 | ) | ||||||||||||||||||||||||
Total available-for-sale securities | $ | 263,896 | $ | (636 | ) | $ | 3,017 | $ | (1 | ) | $ | 266,913 | $ | (637 | ) | |||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||
Corporate debt securities | $ | 182,795 | $ | (374 | ) | $ | 500 | $ | — | $ | 183,295 | $ | (374 | ) | ||||||||||||||||||
Commercial paper | 7,897 | — | — | — | 7,897 | — | ||||||||||||||||||||||||||
Municipal bonds | 14,736 | (20 | ) | — | — | 14,736 | (20 | ) | ||||||||||||||||||||||||
Total available-for-sale securities | $ | 205,428 | $ | (394 | ) | $ | 500 | $ | — | $ | 205,928 | $ | (394 | ) | ||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The contractual maturities of our investments are as follows (in thousands): | ||||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Due within one year | $ | 402,495 | $ | 375,497 | ||||||||||||||||||||||||||||
Due within one to three years | 303,168 | 351,675 | ||||||||||||||||||||||||||||||
Total | $ | 705,663 | $ | 727,172 | ||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The following table presents the fair value of our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||
Aggregate | Quoted | Significant | Significant | Aggregate | Quoted | Significant | Significant | |||||||||||||||||||||||||
Fair | Prices in | Other | Other | Fair | Prices in | Other | Other | |||||||||||||||||||||||||
Value | Active | Observable | Unobservable | Value | Active | Observable | Unobservable | |||||||||||||||||||||||||
Markets For | Remaining | Remaining | Markets For | Remaining | Remaining | |||||||||||||||||||||||||||
Identical | Inputs | Inputs | Identical | Inputs | Inputs | |||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||
Corporate debt securities | $ | 587,244 | $ | — | $ | 587,244 | $ | — | $ | 604,317 | $ | — | $ | 604,317 | $ | — | ||||||||||||||||
Commercial paper | 58,253 | — | 58,253 | — | 71,363 | — | 71,363 | — | ||||||||||||||||||||||||
Municipal bonds | 33,277 | — | 33,277 | — | 38,843 | — | 38,843 | — | ||||||||||||||||||||||||
Certificates of deposit and term deposits | 21,144 | — | 21,144 | — | 12,648 | — | 12,648 | — | ||||||||||||||||||||||||
Money market funds | 20,125 | 20,125 | — | — | 5,724 | 5,724 | — | — | ||||||||||||||||||||||||
U.S. government and agency securities | 5,745 | 1,998 | 3,747 | — | 2,001 | — | 2,001 | — | ||||||||||||||||||||||||
Total | $ | 725,788 | $ | 22,123 | $ | 703,665 | $ | — | $ | 734,896 | $ | 5,724 | $ | 729,172 | $ | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Contingent consideration | $ | — | $ | — | $ | — | $ | — | $ | 1,850 | $ | — | $ | — | $ | 1,850 | ||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 1,850 | $ | — | $ | — | $ | 1,850 | ||||||||||||||||
Reported as: | ||||||||||||||||||||||||||||||||
Cash equivalents | $ | 20,125 | $ | 7,724 | ||||||||||||||||||||||||||||
Short-term investments | 402,495 | 375,497 | ||||||||||||||||||||||||||||||
Long-term investments | 303,168 | 351,675 | ||||||||||||||||||||||||||||||
Total | $ | 725,788 | $ | 734,896 | ||||||||||||||||||||||||||||
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The change in the fair value of our contingent consideration liability was as follows (in thousands): | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | $1,850 | |||||||||||||||||||||||||||||||
Less change in fair value of contingent consideration | -1,143 | |||||||||||||||||||||||||||||||
As of March 31, 2014 | 707 | |||||||||||||||||||||||||||||||
Less change in fair value of contingent consideration | -707 | |||||||||||||||||||||||||||||||
As of September 30, 2014 | $— |
Inventory_Tables
Inventory (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventory [Table Text Block] | ' | |||||||
Inventory consisted of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Raw materials | $ | 5,922 | $ | 4,319 | ||||
Finished goods | 40,370 | 40,093 | ||||||
Consigned inventory | 5,052 | 4,260 | ||||||
Inventory | $ | 51,344 | $ | 48,672 | ||||
Property_and_EquipmentNet_Tabl
Property and Equipment—Net (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Property and equipment—net consisted of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Land | $ | 13,895 | $ | 13,895 | ||||
Building and building improvements | 17,546 | 610 | ||||||
Evaluation units | 29,181 | 23,442 | ||||||
Computer equipment and software | 31,010 | 23,556 | ||||||
Furniture and fixtures | 4,655 | 1,697 | ||||||
Construction-in-progress | 5,326 | 10,947 | ||||||
Leasehold improvements | 7,595 | 4,303 | ||||||
Total property and equipment | 109,208 | 78,450 | ||||||
Less: accumulated depreciation | (52,396 | ) | (41,798 | ) | ||||
Property and equipment—net | $ | 56,812 | $ | 36,652 | ||||
Business_Combinations_Tables
Business Combinations (Tables) | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Business Combinations [Abstract] | ' | |||
Schedule of Fair Value of Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The following table summarizes the fair value of assets acquired and liabilities assumed (in thousands): | ||||
Cash and cash equivalents | $ | 206 | ||
Other current assets | 501 | |||
Finite-lived intangible assets | 2,800 | |||
Indefinite-lived intangible assets | 2,600 | |||
Goodwill | 2,824 | |||
Other assets | 88 | |||
Total assets acquired | 9,019 | |||
Current liabilities | 1,030 | |||
Long-term liabilities | 2,004 | |||
Total liabilities assumed | 3,034 | |||
Total purchase price | $ | 5,985 | ||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets—Net (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Schedule of Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | |||||||||||
The following tables present other intangible assets—net (in thousands): | ||||||||||||
September 30, 2014 | ||||||||||||
Gross | Accumulated Amortization | Net | ||||||||||
Other intangible assets—net: | ||||||||||||
Developed technology | $ | 5,606 | $ | 2,877 | $ | 2,729 | ||||||
Customer relationships | 500 | 125 | 375 | |||||||||
Total other intangible assets—net | $ | 6,106 | $ | 3,002 | $ | 3,104 | ||||||
December 31, 2013 | ||||||||||||
Gross | Accumulated Amortization | Net | ||||||||||
Other intangible assets—net: | ||||||||||||
Developed technology | $ | 8,971 | $ | 2,568 | $ | 6,403 | ||||||
Customer relationships | 500 | 62 | 438 | |||||||||
Total other intangible assets—net | $ | 9,471 | $ | 2,630 | $ | 6,841 | ||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||
The following table summarizes estimated future amortization expense of Other intangible assets—net (in thousands): | ||||||||||||
Amount | ||||||||||||
Years Ending December 31: | ||||||||||||
2014 (remainder) | $ | 273 | ||||||||||
2015 | 1,091 | |||||||||||
2016 | 785 | |||||||||||
2017 | 425 | |||||||||||
2018 | 425 | |||||||||||
Thereafter | 105 | |||||||||||
Total | $ | 3,104 | ||||||||||
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||||
A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income per share is as follows (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 4,056 | $ | 11,029 | $ | 18,530 | $ | 32,257 | ||||||||
Denominator: | ||||||||||||||||
Basic shares: | ||||||||||||||||
Weighted-average common stock outstanding-basic | 164,294 | 162,906 | 163,289 | 162,150 | ||||||||||||
Diluted shares: | ||||||||||||||||
Weighted-average common stock outstanding-basic | 164,294 | 162,906 | 163,289 | 162,150 | ||||||||||||
Effect of potentially dilutive securities: | ||||||||||||||||
Stock options | 4,405 | 5,525 | 4,728 | 5,844 | ||||||||||||
RSUs | 993 | 213 | 692 | 50 | ||||||||||||
ESPP | 35 | 22 | 26 | 10 | ||||||||||||
Weighted-average shares used to compute diluted net income per share | 169,727 | 168,666 | 168,735 | 168,054 | ||||||||||||
Net income per share: | ||||||||||||||||
Basic | $ | 0.02 | $ | 0.07 | $ | 0.11 | $ | 0.2 | ||||||||
Diluted | $ | 0.02 | $ | 0.07 | $ | 0.11 | $ | 0.19 | ||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | |||||||||||||||
The following weighted-average shares of common stock were excluded from the computation of diluted net income per share for the periods presented, as their effect would have been antidilutive (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Stock options | 3,023 | 6,640 | 4,101 | 7,364 | ||||||||||||
RSUs | 696 | 1,416 | 879 | 2,383 | ||||||||||||
ESPP | 226 | 407 | 133 | 399 | ||||||||||||
3,945 | 8,463 | 5,113 | 10,146 | |||||||||||||
Deferred_Revenue_Tables
Deferred Revenue (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Deferred Revenue Disclosure [Abstract] | ' | |||||||
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | ' | |||||||
Deferred revenue consisted of the following (in thousands): | ||||||||
September 30, | December 31, | |||||||
2014 | 2013 | |||||||
Product | $ | 2,685 | $ | 2,915 | ||||
Services and other | 497,327 | 429,713 | ||||||
Total deferred revenue | $ | 500,012 | $ | 432,628 | ||||
Reported As: | ||||||||
Current | $ | 329,132 | $ | 293,664 | ||||
Non-current | 170,880 | 138,964 | ||||||
Total deferred revenue | $ | 500,012 | $ | 432,628 | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table summarizes our future principal contractual obligations as of September 30, 2014 (in thousands): | ||||||||||||||||||||||||||||
Total | 2014 (remainder) | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||||||||||
Operating lease commitments | $ | 39,575 | $ | 2,495 | $ | 9,411 | $ | 7,590 | $ | 6,649 | $ | 5,467 | $ | 7,963 | ||||||||||||||
Less: Sublease rental income | 642 | 193 | 449 | — | — | — | — | |||||||||||||||||||||
Operating lease commitments—net | 38,933 | 2,302 | 8,962 | 7,590 | 6,649 | 5,467 | 7,963 | |||||||||||||||||||||
Purchase commitments | 76,355 | 53,006 | 23,349 | — | — | — | — | |||||||||||||||||||||
Other contractual commitments | 24,176 | 19,530 | 3,592 | 813 | 241 | — | — | |||||||||||||||||||||
Total | $ | 139,464 | $ | 74,838 | $ | 35,903 | $ | 8,403 | $ | 6,890 | $ | 5,467 | $ | 7,963 | ||||||||||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | |||||||||||||||||||||||||||
Warranties—Accrued warranty activities are summarized as follows (in thousands): | ||||||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
Accrued warranty balance—beginning of the period | $ | 3,037 | $ | 2,309 | ||||||||||||||||||||||||
Warranty costs incurred | (2,597 | ) | (2,670 | ) | ||||||||||||||||||||||||
Provision for warranty for the period | 3,786 | 3,134 | ||||||||||||||||||||||||||
Adjustment related to pre-existing warranties | (540 | ) | 274 | |||||||||||||||||||||||||
Accrued warranty balance—end of the period | $ | 3,686 | $ | 3,047 | ||||||||||||||||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions And Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||
The following table summarizes the weighted-average assumptions relating to our employee stock options for the periods presented below: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Expected term in years | 4.9 | 4.6 | 4.9 | 4.6 | ||||||||||||
Volatility | 40.7 | % | 47.8 | % | 43.1 | % | 47.8 | % | ||||||||
Risk-free interest rate | 1.6 | % | 1.2 | % | 1.7 | % | 1.2 | % | ||||||||
Dividend rate | — | — | — | — | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||
The following table summarizes the stock option activity and related information for the periods presented below (in thousands, except exercise prices and contractual life): | ||||||||||||||||
Options Outstanding | ||||||||||||||||
Number | Weighted- | Weighted- | Aggregate | |||||||||||||
of Shares | Average | Average | Intrinsic | |||||||||||||
Exercise | Remaining | Value | ||||||||||||||
Price | Contractual | |||||||||||||||
Life (Years) | ||||||||||||||||
Balance—December 31, 2013 | 15,521 | $ | 13.18 | |||||||||||||
Granted | 320 | 22.36 | ||||||||||||||
Forfeited | (390 | ) | 24.15 | |||||||||||||
Exercised | (3,216 | ) | 8.25 | |||||||||||||
Balance—September 30, 2014 | 12,235 | 14.37 | ||||||||||||||
Options vested and expected to vest—September 30, 2014 | 12,205 | $ | 14.35 | 2.82 | $ | 136,230 | ||||||||||
Options exercisable—September 30, 2014 | 10,244 | $ | 12.59 | 2.48 | $ | 131,847 | ||||||||||
Schedule of Share-based Compensation, Stock Options, Additional Information [Table Text Block] | ' | |||||||||||||||
Additional information related to our stock options is summarized below (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Weighted-average fair value per share granted | $ | 9.13 | $ | 8.61 | $ | 8.76 | $ | 8.61 | ||||||||
Intrinsic value of options exercised | $ | 17,728 | $ | 7,880 | $ | 49,490 | $ | 36,997 | ||||||||
Fair value of options vested | $ | 4,393 | $ | 5,063 | $ | 13,163 | $ | 21,553 | ||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||||||
The following table summarizes the activity and related information for RSUs for the periods presented below (in thousands, except per share amounts): | ||||||||||||||||
Restricted Stock Units Outstanding | ||||||||||||||||
Number of Shares | Weighted-Average Grant-Date-Fair Value per Share | |||||||||||||||
Balance—December 31, 2013 | 4,199 | $ | 22 | |||||||||||||
Granted | 3,359 | 22.44 | ||||||||||||||
Forfeited | (342 | ) | 21.85 | |||||||||||||
Vested | (1,197 | ) | 22.31 | |||||||||||||
Balance—September 30, 2014 | 6,019 | $ | 22.27 | |||||||||||||
RSUs expected to vest—September 30, 2014 | 5,699 | $ | 22.27 | |||||||||||||
Schedule of Share-based Compensation, Shares Withheld for Taxes [Table Text Block] | ' | |||||||||||||||
The following summarizes the number and value of the shares withheld for employee taxes (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Shares withheld for taxes | 124 | 45 | 381 | 45 | ||||||||||||
Amount withheld for taxes | $ | 2,985 | $ | 966 | $ | 8,506 | $ | 966 | ||||||||
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||
In determining the fair value of our ESPP, we use the Black-Scholes option pricing model that employs the following weighted-average assumptions: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Expected term in years | 0.5 | 0.5 | 0.5 | 0.5 | ||||||||||||
Volatility | 31.9 | % | 35.1 | % | 34.1 | % | 44 | % | ||||||||
Risk-free interest rate | 0.1 | % | 0.1 | % | 0.1 | % | 0.1 | % | ||||||||
Dividend rate | — | — | — | — | ||||||||||||
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Additional Information [Table Text Block] | ' | |||||||||||||||
Additional information related to the ESPP is provided below (in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Weighted-average fair value per share granted | $ | 6.03 | $ | 5.04 | $ | 5.91 | $ | 6.11 | ||||||||
Shares issued under the ESPP | 346 | 344 | 770 | 672 | ||||||||||||
Weighted-average price per share issued | $ | 19.38 | $ | 17.9 | $ | 18.17 | $ | 18.88 | ||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||
Stock-based compensation expense is included in costs and expenses as follows (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Cost of product revenue | $ | 60 | $ | 91 | $ | 351 | $ | 277 | ||||||||
Cost of services and other revenue | 1,522 | 1,297 | 4,214 | 3,543 | ||||||||||||
Research and development | 4,505 | 3,548 | 12,558 | 9,605 | ||||||||||||
Sales and marketing | 7,397 | 5,215 | 18,890 | 13,927 | ||||||||||||
General and administrative | 1,183 | 1,627 | 6,300 | 4,432 | ||||||||||||
Total stock-based compensation expense | $ | 14,667 | $ | 11,778 | $ | 42,313 | $ | 31,784 | ||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs by Award Type [Table Text Block] | ' | |||||||||||||||
The following table summarizes stock-based compensation expense by award type (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Stock options | $ | 4,282 | $ | 5,180 | $ | 13,395 | $ | 15,801 | ||||||||
RSUs | 9,275 | 5,408 | 25,886 | 12,439 | ||||||||||||
ESPP | 1,110 | 1,190 | 3,032 | 3,544 | ||||||||||||
Total stock-based compensation expense | $ | 14,667 | $ | 11,778 | $ | 42,313 | $ | 31,784 | ||||||||
Income Tax Benefit from Stock Option Plans [Table Text Block] | ' | |||||||||||||||
Total income tax benefit associated with stock-based compensation that is included as part of the provision for income taxes in the condensed consolidated statements of operations is as follows (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income tax benefit associated with stock-based compensation | $ | 4,225 | $ | 3,176 | $ | 11,821 | $ | 9,557 | ||||||||
Segment_and_Significant_Custom1
Segment and Significant Customer Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Revenue from External Customers by Geographic Areas [Table Text Block] | ' | |||||||||||||||
The following table sets forth revenue by geographic region (in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
Revenue | September 30, | September 30, | September 30, | September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Americas: | ||||||||||||||||
United States | $ | 50,329 | $ | 40,654 | $ | 144,794 | $ | 114,257 | ||||||||
Other Americas | 31,889 | 24,794 | 88,241 | 63,844 | ||||||||||||
Total Americas | 82,218 | 65,448 | 233,035 | 178,101 | ||||||||||||
Europe, Middle East, and Africa (“EMEA”) | 66,157 | 51,373 | 185,354 | 149,500 | ||||||||||||
Asia Pacific and Japan (“APAC”) | 44,973 | 37,878 | 128,006 | 110,346 | ||||||||||||
Total revenue | $ | 193,348 | $ | 154,699 | $ | 546,395 | $ | 437,947 | ||||||||
Schedule of Net Accounts Receivable from Significant Customers [Table Text Block] | ' | |||||||||||||||
The following customers, each of which is a distributor, accounted for 10% or more of our net revenues: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Exclusive Networks Group | 15 | % | 11 | % | 14 | % | 11 | % | ||||||||
Fine Tec Computer | 11 | % | — | — | — | |||||||||||
The following customers, each of which is a distributor, accounted for 10% or more of net accounts receivable: | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Exclusive Networks Group | 13 | % | 13 | % | ||||||||||||
Fine Tec Computer | 15 | % | — | |||||||||||||
Long-lived Assets by Geographic Areas [Table Text Block] | ' | |||||||||||||||
The following table sets forth property and equipment by geographic region (in thousands): | ||||||||||||||||
Property and Equipment—Net | September 30, | December 31, | ||||||||||||||
2014 | 2013 | |||||||||||||||
Americas: | ||||||||||||||||
United States | $ | 45,234 | $ | 29,334 | ||||||||||||
Canada | 5,884 | 4,372 | ||||||||||||||
Other Americas | 411 | 45 | ||||||||||||||
Total Americas | 51,529 | 33,751 | ||||||||||||||
EMEA | 2,221 | 1,273 | ||||||||||||||
APAC | 3,062 | 1,628 | ||||||||||||||
Total property and equipment—net | $ | 56,812 | $ | 36,652 | ||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||
The following table summarizes the changes in accumulated balances of other comprehensive income for the nine months ended September 30, 2014 (in thousands): | ||||||||||||||||
30-Sep-14 | ||||||||||||||||
Foreign Currency Translation Gains And Losses | Unrealized Gains And Losses On Investments | Tax Benefit Or Provision Related To Items Of Other Comprehensive Income Or Loss | Total | |||||||||||||
Balance as of December 31, 2013 | $ | 333 | $ | 1,168 | $ | (409 | ) | $ | 1,092 | |||||||
Other comprehensive income before reclassifications | (333 | ) | (984 | ) | 345 | (972 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income | — | (9 | ) | 3 | (6 | ) | ||||||||||
Net current-period other comprehensive income | (333 | ) | (993 | ) | 348 | (978 | ) | |||||||||
Balance as of September 30, 2014 | $ | — | $ | 175 | $ | (61 | ) | $ | 114 | |||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||
The following table provides details about the reclassification out of accumulated other comprehensive income for the nine months ended September 30, 2014 (in thousands): | ||||||||||||||||
30-Sep-14 | ||||||||||||||||
Details About Accumulated Other Comprehensive Income Components | Amount Reclassified From Accumulated Other Comprehensive Income | Affected Line Item In The Statement Where Net Income Is Presented | ||||||||||||||
Unrealized gains on investments | $ | (9 | ) | Other expense—net | ||||||||||||
Tax provision related to items of other comprehensive income or loss | 3 | Provision for income taxes | ||||||||||||||
Total reclassification for the period | $ | (6 | ) |
Foreign_Currency_Derivatives_T
Foreign Currency Derivatives (Tables) | 9 Months Ended | |||||
Sep. 30, 2014 | ||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | ' | |||||
The notional amount of forward exchange contracts to hedge balance sheet accounts as of September 30, 2014 and December 31, 2013 were (in thousands): | ||||||
Buy/Sell | Notional | |||||
Currency—As of September 30, 2014 | ||||||
CAD | Buy | $ | 13,242 | |||
Currency—As of December 31, 2013 | ||||||
CAD | Buy | $ | 21,867 | |||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies , Property and Equipment (Details) | 9 Months Ended |
Sep. 30, 2014 | |
Building and building improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '20 years |
Evaluation units [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '1 year |
Minimum [Member] | Computer equipment and software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '1 year |
Minimum [Member] | Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '3 years |
Maximum [Member] | Computer equipment and software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '2 years |
Maximum [Member] | Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '5 years |
Financial_Instruments_and_Fair2
Financial Instruments and Fair Value Measurements , Investments (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $705,488 | $726,001 |
Unrealized Gains | 812 | 1,565 |
Unrealized Losses | -637 | -394 |
Total | 705,663 | 727,172 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' |
Less Than 12 Months, Fair Value | 263,896 | 205,428 |
Less Than 12 Months, Unrealized Losses | -636 | -394 |
12 Months or Greater, Fair Value | 3,017 | 500 |
12 Months or Greater, Unrealized Losses | -1 | 0 |
Total, Fair Value | 266,913 | 205,928 |
Total, Unrealized Losses | -637 | -394 |
Available-for-sale Securities, Maturities, Fair Value [Abstract] | ' | ' |
Due within one year | 402,495 | 375,497 |
Due within one to three years | 303,168 | 351,675 |
Total | 705,663 | 727,172 |
Corporate debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 587,087 | 603,185 |
Unrealized Gains | 763 | 1,506 |
Unrealized Losses | -606 | -374 |
Total | 587,244 | 604,317 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' |
Less Than 12 Months, Fair Value | 244,554 | 182,795 |
Less Than 12 Months, Unrealized Losses | -605 | -374 |
12 Months or Greater, Fair Value | 1,017 | 500 |
12 Months or Greater, Unrealized Losses | -1 | 0 |
Total, Fair Value | 245,571 | 183,295 |
Total, Unrealized Losses | -606 | -374 |
Available-for-sale Securities, Maturities, Fair Value [Abstract] | ' | ' |
Total | 587,244 | 604,317 |
Commercial paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 58,250 | 69,356 |
Unrealized Gains | 4 | 7 |
Unrealized Losses | -1 | 0 |
Total | 58,253 | 69,363 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' |
Less Than 12 Months, Fair Value | 2,396 | 7,897 |
Less Than 12 Months, Unrealized Losses | -1 | 0 |
12 Months or Greater, Fair Value | 0 | 0 |
12 Months or Greater, Unrealized Losses | 0 | 0 |
Total, Fair Value | 2,396 | 7,897 |
Total, Unrealized Losses | -1 | 0 |
Available-for-sale Securities, Maturities, Fair Value [Abstract] | ' | ' |
Total | 58,253 | 69,363 |
Municipal bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 33,260 | 38,815 |
Unrealized Gains | 42 | 48 |
Unrealized Losses | -25 | -20 |
Total | 33,277 | 38,843 |
Available-for-sale Securities, Maturities, Fair Value [Abstract] | ' | ' |
Total | 33,277 | 38,843 |
Municipal bonds [Member] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' |
Less Than 12 Months, Fair Value | 12,201 | 14,736 |
Less Than 12 Months, Unrealized Losses | -25 | -20 |
12 Months or Greater, Fair Value | 2,000 | 0 |
12 Months or Greater, Unrealized Losses | 0 | 0 |
Total, Fair Value | 14,201 | 14,736 |
Total, Unrealized Losses | -25 | -20 |
Certificates of deposit and term deposits [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 21,143 | 12,645 |
Unrealized Gains | 1 | 3 |
Unrealized Losses | 0 | 0 |
Total | 21,144 | 12,648 |
Available-for-sale Securities, Maturities, Fair Value [Abstract] | ' | ' |
Total | 21,144 | 12,648 |
U.S. government and agency securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 5,748 | 2,000 |
Unrealized Gains | 2 | 1 |
Unrealized Losses | -5 | 0 |
Total | 5,745 | 2,001 |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' |
Less Than 12 Months, Fair Value | 4,745 | ' |
Less Than 12 Months, Unrealized Losses | -5 | ' |
12 Months or Greater, Fair Value | 0 | ' |
12 Months or Greater, Unrealized Losses | 0 | ' |
Total, Fair Value | 4,745 | ' |
Total, Unrealized Losses | -5 | ' |
Available-for-sale Securities, Maturities, Fair Value [Abstract] | ' | ' |
Total | $5,745 | $2,001 |
Financial_Instruments_and_Fair3
Financial Instruments and Fair Value Measurements , Fair Value Measurements (Details) (Recurring [Member], USD $) | Sep. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Estimate of Fair Value [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Financial Assets, Fair Value Disclosure | $725,788 | ' | $734,896 |
Contingent consideration | 0 | 707 | 1,850 |
Financial Liabilities, Fair Value Disclosure | 0 | ' | 1,850 |
Estimate of Fair Value [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Financial Assets, Fair Value Disclosure | 22,123 | ' | 5,724 |
Estimate of Fair Value [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Financial Assets, Fair Value Disclosure | 703,665 | ' | 729,172 |
Estimate of Fair Value [Member] | Corporate debt securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 587,244 | ' | 604,317 |
Estimate of Fair Value [Member] | Corporate debt securities [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 587,244 | ' | 604,317 |
Estimate of Fair Value [Member] | Commercial paper [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 58,253 | ' | 71,363 |
Estimate of Fair Value [Member] | Commercial paper [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 58,253 | ' | 71,363 |
Estimate of Fair Value [Member] | Municipal bonds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 33,277 | ' | 38,843 |
Estimate of Fair Value [Member] | Municipal bonds [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 33,277 | ' | 38,843 |
Estimate of Fair Value [Member] | Certificates of deposit and term deposits [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 21,144 | ' | 12,648 |
Estimate of Fair Value [Member] | Certificates of deposit and term deposits [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 21,144 | ' | 12,648 |
Estimate of Fair Value [Member] | Money market funds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 20,125 | ' | 5,724 |
Estimate of Fair Value [Member] | Money market funds [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 20,125 | ' | 5,724 |
Estimate of Fair Value [Member] | U.S. government and agency securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 5,745 | ' | 2,001 |
Estimate of Fair Value [Member] | U.S. government and agency securities [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 1,998 | ' | 0 |
Estimate of Fair Value [Member] | U.S. government and agency securities [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 3,747 | ' | 2,001 |
Reported as [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Financial Assets, Fair Value Disclosure | 725,788 | ' | 734,896 |
Reported as [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 20,125 | ' | 7,724 |
Reported as [Member] | Short-term investments [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 402,495 | ' | 375,497 |
Reported as [Member] | Long-term investments [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Available-for-sale securities, Fair Value Disclosure | 303,168 | ' | 351,675 |
Income Approach Valuation Technique [Member] | Estimate of Fair Value [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ' |
Contingent consideration | 0 | ' | 1,850 |
Financial Liabilities, Fair Value Disclosure | $0 | ' | $1,850 |
Financial_Instruments_and_Fair4
Financial Instruments and Fair Value Measurements Change to Contingent Consideration Liability (Details) (Estimate of Fair Value [Member], Recurring [Member], USD $) | 3 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Sep. 30, 2014 |
Estimate of Fair Value [Member] | Recurring [Member] | ' | ' |
Movement in Contingent Consideration Liability [Roll Forward] | ' | ' |
Contingent consideration liability, beginning | $1,850 | $707 |
Less change in fair value of contingent consideration | -1,143 | -707 |
Contingent consideration liability, ending | $707 | $0 |
Financial_Instruments_and_Fair5
Financial Instruments and Fair Value Measurements , Fair Value Measurements, Nonrecurring Basis (Details) (Cost of Product Revenue [Member], Coyote Point Systems, Inc. [Member], USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' |
Impairment of intangible assets | $2.40 |
Nonrecurring [Member] | Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ' |
Intangible assets, fair value | $2 |
Inventory_Details
Inventory (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Raw materials | $5,922 | $4,319 |
Finished goods | 40,370 | 40,093 |
Consignment inventory | 5,052 | 4,260 |
Inventory | $51,344 | $48,672 |
Property_and_EquipmentNet_Deta
Property and Equipment—Net (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | $109,208,000 | ' | $109,208,000 | ' | $78,450,000 |
Less: accumulated depreciation | -52,396,000 | ' | -52,396,000 | ' | -41,798,000 |
Property and equipment - net | 56,812,000 | ' | 56,812,000 | ' | 36,652,000 |
Depreciation expense | 5,400,000 | 3,800,000 | 15,300,000 | 10,400,000 | ' |
Land [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | 13,895,000 | ' | 13,895,000 | ' | 13,895,000 |
Building and building improvements [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | 17,546,000 | ' | 17,546,000 | ' | 610,000 |
Evaluation units [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | 29,181,000 | ' | 29,181,000 | ' | 23,442,000 |
Computer equipment and software [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | 31,010,000 | ' | 31,010,000 | ' | 23,556,000 |
Furniture and fixtures [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | 4,655,000 | ' | 4,655,000 | ' | 1,697,000 |
Construction-in-progress [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | 5,326,000 | ' | 5,326,000 | ' | 10,947,000 |
Leasehold improvements [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' | ' | ' | ' |
Total property and equipment | $7,595,000 | ' | $7,595,000 | ' | $4,303,000 |
Business_Combinations_Acquisit
Business Combinations (Acquisitions) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Mar. 21, 2013 | Mar. 21, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 21, 2013 | Mar. 21, 2013 |
Coyote Point Systems, Inc. [Member] | Developed Technology [Member] | Developed Technology [Member] | Developed Technology [Member] | Customer Relationships [Member] | In Process Research and Development [Member] | |||
Coyote Point Systems, Inc. [Member] | Coyote Point Systems, Inc. [Member] | Coyote Point Systems, Inc. [Member] | Coyote Point Systems, Inc. [Member] | Coyote Point Systems, Inc. [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid to acquire business | ' | ' | $6,000,000 | ' | ' | ' | ' | ' |
Contingent consideration | ' | ' | 5,500,000 | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | 206,000 | ' | ' | ' | ' | ' |
Other current assets | ' | ' | 501,000 | ' | ' | ' | ' | ' |
Finite-lived intangible assets | ' | ' | 2,800,000 | 2,300,000 | ' | ' | 500,000 | ' |
Indefinite-lived intangible assets | ' | ' | 2,600,000 | ' | ' | ' | ' | 2,600,000 |
Goodwill | 2,824,000 | 2,872,000 | 2,824,000 | ' | ' | ' | ' | ' |
Other assets | ' | ' | 88,000 | ' | ' | ' | ' | ' |
Total assets acquired | ' | ' | 9,019,000 | ' | ' | ' | ' | ' |
Current liabilities | ' | ' | 1,030,000 | ' | ' | ' | ' | ' |
Long-term liabilities | ' | ' | 2,004,000 | ' | ' | ' | ' | ' |
Total liabilities assumed | ' | ' | 3,034,000 | ' | ' | ' | ' | ' |
Total purchase price | ' | ' | $5,985,000 | ' | ' | ' | ' | ' |
Useful life of finite-lived intangible assets | ' | ' | ' | '6 years | ' | ' | '6 years | ' |
Estimated remaining useful life of intangible assets | ' | ' | ' | ' | '5 years | '5 years | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets—Net Goodwill (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' |
Goodwill | $2,824 | $2,872 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets—Net Finite-lived Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' | ' |
Gross | $6,106,000 | ' | $6,106,000 | ' | $9,471,000 |
Accumulated Amortization | 3,002,000 | ' | 3,002,000 | ' | 2,630,000 |
Total | 3,104,000 | ' | 3,104,000 | ' | 6,841,000 |
Amortization expense | 200,000 | 400,000 | 1,200,000 | 1,100,000 | ' |
Fiscal Years: | ' | ' | ' | ' | ' |
2014 (remainder) | 273,000 | ' | 273,000 | ' | ' |
2015 | 1,091,000 | ' | 1,091,000 | ' | ' |
2016 | 785,000 | ' | 785,000 | ' | ' |
2017 | 425,000 | ' | 425,000 | ' | ' |
2018 | 425,000 | ' | 425,000 | ' | ' |
Thereafter | 105,000 | ' | 105,000 | ' | ' |
Total | 3,104,000 | ' | 3,104,000 | ' | 6,841,000 |
Developed Technology [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' | ' |
Gross | 5,606,000 | ' | 5,606,000 | ' | 8,971,000 |
Accumulated Amortization | 2,877,000 | ' | 2,877,000 | ' | 2,568,000 |
Total | 2,729,000 | ' | 2,729,000 | ' | 6,403,000 |
Fiscal Years: | ' | ' | ' | ' | ' |
Total | 2,729,000 | ' | 2,729,000 | ' | 6,403,000 |
Customer Relationships [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net [Abstract] | ' | ' | ' | ' | ' |
Gross | 500,000 | ' | 500,000 | ' | 500,000 |
Accumulated Amortization | 125,000 | ' | 125,000 | ' | 62,000 |
Total | 375,000 | ' | 375,000 | ' | 438,000 |
Fiscal Years: | ' | ' | ' | ' | ' |
Total | 375,000 | ' | 375,000 | ' | 438,000 |
Coyote Point Systems, Inc. [Member] | Developed Technology [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Intangible assets, carrying value | 2,000,000 | ' | 2,000,000 | ' | ' |
Estimated remaining useful life of intangible assets | '5 years | '5 years | ' | ' | ' |
Cost of Product Revenue [Member] | Coyote Point Systems, Inc. [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | ' | ' | 2,400,000 | ' | ' |
Cost of Product Revenue [Member] | Coyote Point Systems, Inc. [Member] | Developed Technology [Member] | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Impairment of intangible assets | $2,400,000 | ' | ' | ' | ' |
Net_Income_Per_Share_Calculati
Net Income Per Share , Calculation of Basic and Diluted (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Line Items] | ' | ' | ' | ' |
Net income | $4,056 | $11,029 | $18,530 | $32,257 |
Basic shares: | ' | ' | ' | ' |
Weighted-average common shares outstanding-basic (in shares) | 164,294 | 162,906 | 163,289 | 162,150 |
Diluted shares: | ' | ' | ' | ' |
Weighted-average common shares outstanding-basic (in shares) | 164,294 | 162,906 | 163,289 | 162,150 |
Effect of potentially dilutive securities: | ' | ' | ' | ' |
Weighted-average shares used to compute diluted net income per share (in shares) | 169,727 | 168,666 | 168,735 | 168,054 |
Basic (in dollars per share) | $0.02 | $0.07 | $0.11 | $0.20 |
Diluted (in dollars per share) | $0.02 | $0.07 | $0.11 | $0.19 |
Stock Options [Member] | ' | ' | ' | ' |
Effect of potentially dilutive securities: | ' | ' | ' | ' |
Employee stock options and purchase rights (in shares) | 4,405 | 5,525 | 4,728 | 5,844 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Effect of potentially dilutive securities: | ' | ' | ' | ' |
Employee stock options and purchase rights (in shares) | 993 | 213 | 692 | 50 |
ESPP [Member] | ' | ' | ' | ' |
Effect of potentially dilutive securities: | ' | ' | ' | ' |
Employee stock options and purchase rights (in shares) | 35 | 22 | 26 | 10 |
Net_Income_Per_Share_Anti_Dilu
Net Income Per Share , Anti Dilutive Securities (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities (in shares) | 3,945 | 8,463 | 5,113 | 10,146 |
Stock Options [Member] | Stock Compensation Plan [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities (in shares) | 3,023 | 6,640 | 4,101 | 7,364 |
Restricted Stock Units (RSUs) [Member] | Stock Compensation Plan [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities (in shares) | 696 | 1,416 | 879 | 2,383 |
ESPP [Member] | Stock Compensation Plan [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities (in shares) | 226 | 407 | 133 | 399 |
Deferred_Revenue_Details
Deferred Revenue (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Revenue Arrangement [Line Items] | ' | ' |
Current | $329,132 | $293,664 |
Non-current | 170,880 | 138,964 |
Total deferred revenue | 500,012 | 432,628 |
Product [Member] | ' | ' |
Deferred Revenue Arrangement [Line Items] | ' | ' |
Total deferred revenue | 2,685 | 2,915 |
Services and other [Member] | ' | ' |
Deferred Revenue Arrangement [Line Items] | ' | ' |
Total deferred revenue | $497,327 | $429,713 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' | ' |
Rent expense | $2,600,000 | $2,400,000 | $7,700,000 | $7,100,000 |
Open purchase orders and other contractual obligations | 76,355,000 | ' | 76,355,000 | ' |
Other contract commitments | $24,176,000 | ' | $24,176,000 | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies Minimum Operating Lease Payments (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Operating Lease Commitments: | ' |
Operating lease commitments, 2014 (remainder) | $2,495 |
Operating lease commitments, 2015 | 9,411 |
Operating lease commitments, 2016 | 7,590 |
Operating lease commitments, 2017 | 6,649 |
Operating lease commitments, 2018 | 5,467 |
Operating lease commitments, Thereafter | 7,963 |
Operating lease commitments | 39,575 |
Sublease Commitments: | ' |
Sublease rental income, 2014 (remainder) | 193 |
Sublease rental income, 2015 | 449 |
Sublease rental income, 2016 | 0 |
Sublease rental income, 2017 | 0 |
Sublease rental income, 2018 | 0 |
Sublease rental income, Thereafter | 0 |
Sublease rental income | 642 |
Operating commitments, net: | ' |
Operating commitments, net, 2014 (remainder) | 2,302 |
Operating commitments, net, 2015 | 8,962 |
Operating commitments, net, 2016 | 7,590 |
Operating commitments, net, 2017 | 6,649 |
Operating commitments, net, 2018 | 5,467 |
Operating commitments, net, Thereafter | 7,963 |
Operating commitments, net | 38,933 |
Purchase commitments: | ' |
Purchase commitments, 2014 (remainder) | 53,006 |
Purchase commitments, 2015 | 23,349 |
Purchase commitments, 2016 | 0 |
Purchase commitments, 2017 | 0 |
Purchase commitments, 2018 | 0 |
Purchase commitments, Thereafter | 0 |
Purchase commitments | 76,355 |
Other contract commitments: | ' |
Other contract commitments, 2014 (remainder) | 19,530 |
Other contract commitments, 2015 | 3,592 |
Other contract commitments, 2016 | 813 |
Other contract commitments, 2017 | 241 |
Other contract commitments, 2018 | 0 |
Other contract commitments, Thereafter | 0 |
Other contract commitments | 24,176 |
Contractual obligations, 2014 (remainder) | 74,838 |
Contractual obligations, 2015 | 35,903 |
Contractual obligations, 2016 | 8,403 |
Contractual obligations, 2017 | 6,890 |
Contractual obligations, 2018 | 5,467 |
Contractual obligations, Thereafter | 7,963 |
Contractual obligations | $139,464 |
Commitments_and_Contingencies_3
Commitments and Contingencies Warranties (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' |
Accrual warranty balance - beginning of period | $3,037 | $2,309 |
Warranty costs incurred | -2,597 | -2,670 |
Provision for warranty for the period | 3,786 | 3,134 |
Adjustment related to pre-existing warranties | -540 | 274 |
Accrual warranty balance - end of period | $3,686 | $3,047 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (Stock Options [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' | ' |
Expected term in years | '4 years 10 months 17 days | '4 years 7 months 6 days | '4 years 10 months 17 days | '4 years 7 months 6 days |
Volatility | 40.70% | 47.80% | 43.10% | 47.80% |
Risk-free interest rate | 1.60% | 1.20% | 1.70% | 1.20% |
Dividend rate | 0.00% | 0.00% | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Balance - Beginning (in shares) | ' | ' | 15,521 | ' |
Granted (in shares) | ' | ' | 320 | ' |
Forfeited (in shares) | ' | ' | -390 | ' |
Exercised (in shares) | ' | ' | -3,216 | ' |
Balance - Ending (in shares) | 12,235 | ' | 12,235 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' |
Balance - Beginning (in dollars per share) | ' | ' | $13.18 | ' |
Granted (in dollars per share) | ' | ' | $22.36 | ' |
Forfeited (in dollars per share) | ' | ' | $24.15 | ' |
Exercised (in dollars per share) | ' | ' | $8.25 | ' |
Balance - Ending (in dollars per share) | $14.37 | ' | $14.37 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' | ' |
Options vested and expected to vest, Outstanding (in shares) | 12,205 | ' | 12,205 | ' |
Options vested and expected to vest, Weighted average exercise price (in dollars per share) | $14.35 | ' | $14.35 | ' |
Options vested and expected to vest, Weighted average remaining contractual life (in years) | ' | ' | '2 years 9 months 26 days | ' |
Options vested and expected to vest, Aggregate intrinsic value | $136,230,000 | ' | $136,230,000 | ' |
Options exercisable, Outstanding (in shares) | 10,244 | ' | 10,244 | ' |
Options exercisable, Weighted average exercise price (in dollars per share) | $12.59 | ' | $12.59 | ' |
Options exercisable, Weighted average remaining contractual life (in years) | ' | ' | '2 years 5 months 22 days | ' |
Options exercisable, Aggregate intrinsic value | 131,847,000 | ' | 131,847,000 | ' |
Compensation cost not yet recognized | 22,900,000 | ' | 22,900,000 | ' |
Compensation cost not yet recognized period of recognition | ' | ' | '1 year 5 months 19 days | ' |
Weighted-average fair value per share granted | $9.13 | $8.61 | $8.76 | $8.61 |
Intrinsic value of options exercised | 17,728,000 | 7,880,000 | 49,490,000 | 36,997,000 |
Total fair value of awards vested | $4,393,000 | $5,063,000 | $13,163,000 | $21,553,000 |
Stockholders_Equity_Restricted
Stockholders' Equity , Restricted Stock Units Activity (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | ' |
Amount withheld for taxes | ' | ' | $8,506,000 | $966,000 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' |
Balance, beginning | ' | ' | 4,199 | ' |
Granted | ' | ' | 3,359 | ' |
Forfeited | ' | ' | -342 | ' |
Vested | ' | ' | -1,197 | ' |
Balance, ending | 6,019 | ' | 6,019 | ' |
RSUs expected to vest—September 30, 2014 | 5,699 | ' | 5,699 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | ' |
Balance, weighted-average grant-date fair value per share (in dollars per share)—beginning | ' | ' | $22 | ' |
Granted, weighted-average grant-date fair value per share (in dollars per share) | ' | ' | $22.44 | ' |
Forfeited, weighted-average grant-date fair value per share (in dollars per share) | ' | ' | $21.85 | ' |
Vested, weighted-average grant-date fair value per share (in dollars per share) | ' | ' | $22.31 | ' |
Balance, weighted-average grant-date fair value per share (in dollars per share)—ending | $22.27 | ' | $22.27 | ' |
RSUs expected to vest, weighted-average grant-date fair value per share (in dollars per share)—March 31, 2014 | $22.27 | ' | $22.27 | ' |
Compensation cost not yet recognized | 128,300,000 | ' | 128,300,000 | ' |
Compensation cost not yet recognized period of recognition | ' | ' | '3 years 7 days | ' |
Shares withheld for taxes | 124 | 45 | 381 | 45 |
Amount withheld for taxes | $2,985,000 | $966,000 | $8,506,000 | $966,000 |
Stockholders_Equity_ESPP_Infor
Stockholders' Equity , ESPP Information (Details) (Employee Stock Purchase Plan [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expected term in years | '6 months | '6 months | '6 months | '6 months |
Volatility | 31.90% | 35.10% | 34.10% | 44.00% |
Risk-free interest rate | 0.10% | 0.10% | 0.10% | 0.10% |
Dividend rate | 0.00% | 0.00% | 0.00% | 0.00% |
Weighted-average fair value per share granted (in dollars per share) | $6.03 | $5.04 | $5.91 | $6.11 |
Shares issued under the ESPP (in shares) | 346 | 344 | 770 | 672 |
Weighted-average price per share issued (in dollars per share) | $19.38 | $17.90 | $18.17 | $18.88 |
Stockholders_Equity_Allocation
Stockholders' Equity , Allocation of Stock-Based Compensation Expense (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $14,667 | $11,778 | $42,313 | $31,784 |
Income tax benefit associated with stock-based compensation | 4,225 | 3,176 | 11,821 | 9,557 |
Cost of product revenue [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 60 | 91 | 351 | 277 |
Cost of services and other revenue [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 1,522 | 1,297 | 4,214 | 3,543 |
Research and development [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 4,505 | 3,548 | 12,558 | 9,605 |
Selling and marketing [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 7,397 | 5,215 | 18,890 | 13,927 |
General and administrative [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 1,183 | 1,627 | 6,300 | 4,432 |
Stock Options [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 4,282 | 5,180 | 13,395 | 15,801 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 9,275 | 5,408 | 25,886 | 12,439 |
ESPP [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $1,110 | $1,190 | $3,032 | $3,544 |
Stockholders_Equity_Share_Repu
Stockholders' Equity , Share Repurchase Program (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Dec. 06, 2013 | Sep. 30, 2014 | Sep. 30, 2014 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Stock repurchase program, authorized amount | $200 | ' | ' |
Stock repurchased in the period, shares | ' | 0.4 | 1.4 |
Stock repurchased in the period, value | ' | 10.7 | 33.2 |
Remaining authorized repurchase amount under the program | ' | ' | $127.90 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Effective tax rate, percent | 74.00% | 40.00% | 55.00% | 36.00% | ' |
Unrecognized tax benefits | $39.40 | ' | $39.40 | ' | $30.20 |
Unrecognized tax benefits that would favorably impact effective tax rate | 39.4 | ' | 39.4 | ' | ' |
Estimated interest accrued related to uncertain tax positions | $1.60 | ' | $1.60 | ' | ' |
Defined_Contribution_Plans_Det
Defined Contribution Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' |
Matching contribution on employee contributions, Percent | ' | ' | 50.00% | ' |
Maximum contibution percentage of each employee's eligible earnings, Percent | ' | ' | 4.00% | ' |
Matching contributions to the RRSP and 401(k) Plans | $0.70 | $0.60 | $1.90 | $1.60 |
Segment_and_Significant_Custom2
Segment and Significant Customer Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Americas [Member] | Americas [Member] | Americas [Member] | Americas [Member] | Americas [Member] | United States | United States | United States | United States | United States | Canada [Member] | Canada [Member] | Other Americas [Member] | Other Americas [Member] | Other Americas [Member] | Other Americas [Member] | Other Americas [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | APAC [Member] | APAC [Member] | APAC [Member] | APAC [Member] | APAC [Member] | Exclusive Networks Group [Member] | Exclusive Networks Group [Member] | Exclusive Networks Group [Member] | Exclusive Networks Group [Member] | Exclusive Networks Group [Member] | Exclusive Networks Group [Member] | Fine Tec Computer [Member] | Fine Tec Computer [Member] | Fine Tec Computer [Member] | Fine Tec Computer [Member] | Fine Tec Computer [Member] | Fine Tec Computer [Member] | ||||||
Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue [Member] | Sales Revenue [Member] | Sales Revenue [Member] | Sales Revenue [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Sales Revenue [Member] | Sales Revenue [Member] | Sales Revenue [Member] | Sales Revenue [Member] | |||||||||||||||||||||||||||||||||
Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | |||||||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $193,348 | $154,699 | $546,395 | $437,947 | ' | $82,218 | $65,448 | $233,035 | $178,101 | ' | $50,329 | $40,654 | $144,794 | $114,257 | ' | ' | ' | $31,889 | $24,794 | $88,241 | $63,844 | ' | $66,157 | $51,373 | $185,354 | $149,500 | ' | $44,973 | $37,878 | $128,006 | $110,346 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Largest customer, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.00% | 13.00% | 15.00% | 11.00% | 14.00% | 11.00% | 15.00% | 0.00% | 11.00% | 0.00% | 0.00% | 0.00% |
Property and equipment - net | $56,812 | ' | $56,812 | ' | $36,652 | $51,529 | ' | $51,529 | ' | $33,751 | $45,234 | ' | $45,234 | ' | $29,334 | $5,884 | $4,372 | $411 | ' | $411 | ' | $45 | $2,221 | ' | $2,221 | ' | $1,273 | $3,062 | ' | $3,062 | ' | $1,628 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Changes in Accumulated Balances of Other Comprehensive Income)(Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | $1,092 |
Other comprehensive income before reclassifications | -972 |
Amounts reclassified from accumulated other comprehensive income | -6 |
Net current-period other comprehensive income | -978 |
Ending balance | 114 |
Accumulated Other Comprehensive Income, Tax [Roll Forward] | ' |
Beginning balance, tax | -409 |
Other comprehensive income before reclassifications, tax | 345 |
Amounts reclassified from accumulated other comprehensive income, tax | 3 |
Net current-period other comprehensive income, tax | 348 |
Ending balance, tax | -61 |
Foreign Currency Translation Gains and Losses [Member] | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | 333 |
Other comprehensive income before reclassifications | -333 |
Amounts reclassified from accumulated other comprehensive income | 0 |
Net current-period other comprehensive income | -333 |
Ending balance | 0 |
Unrealized Gains and Losses on Investments [Member] | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | 1,168 |
Other comprehensive income before reclassifications | -984 |
Amounts reclassified from accumulated other comprehensive income | -9 |
Net current-period other comprehensive income | -993 |
Ending balance | $175 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Reclassification Out of Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Other expense—net | ($1,005) | ($1,151) | ($1,968) | ($1,036) |
Provision for income taxes | -11,729 | -7,381 | -22,901 | -18,142 |
NET INCOME | 4,056 | 11,029 | 18,530 | 32,257 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Other expense—net | ' | ' | -9 | ' |
Provision for income taxes | ' | ' | 3 | ' |
NET INCOME | ' | ' | ($6) | ' |
Foreign_Currency_Derivatives_D
Foreign Currency Derivatives (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Notional amount of forward exchange contracts | $13,242 | $21,867 |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | 9 Months Ended | 0 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Oct. 17, 2014 |
Share Repurchase Program extended through December 31, 2015 [Member] | ||
Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ' | ' |
Remaining authorized repurchase amount under the program | $127.90 | $124.90 |