Document_and_Entity_Informatio
Document and Entity Information Statement | 3 Months Ended | ||
Mar. 31, 2014 | Apr. 30, 2014 | Apr. 30, 2014 | |
Common Class A [Member] | Common Class B [Member] | ||
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Mar-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q1 | ' | ' |
Entity Registrant Name | 'TABLEAU SOFTWARE INC | ' | ' |
Entity Central Index Key | '0001303652 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 40,205,590 | 27,759,630 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $616,508 | $252,674 |
Accounts receivable, net | 50,513 | 61,158 |
Prepaid expenses and other current assets | 7,118 | 7,180 |
Income taxes receivable | 2,069 | 2,033 |
Deferred income taxes | 8,860 | 9,136 |
Total current assets | 685,068 | 332,181 |
Property and equipment, net | 22,667 | 21,338 |
Deferred income taxes | 813 | 589 |
Deposits and other noncurrent assets | 812 | 819 |
Total assets | 709,360 | 354,927 |
Current liabilities | ' | ' |
Accounts payable | 4,056 | 2,178 |
Accrued liabilities and other current liabilities | 10,081 | 8,456 |
Accrued compensation and employee related benefits | 19,253 | 27,187 |
Income taxes payable | 109 | 178 |
Deferred revenue in current liabilities | 69,910 | 66,290 |
Total current liabilities | 103,409 | 104,289 |
Deferred revenue | 3,622 | 3,264 |
Other long-term liabilities | 2,478 | 2,714 |
Total liabilities | 109,509 | 110,267 |
Commitments and contingencies (Note 6) | ' | ' |
Convertible preferred stock | ' | ' |
Convertible Preferred Stock | 0 | 0 |
Stockholdersb equity (deficit) | ' | ' |
Additional paid-in capital | 600,211 | 239,406 |
Accumulated other comprehensive loss | -56 | -71 |
Retained earnings (accumulated deficit) | -311 | 5,318 |
Total stockholdersb equity | 599,851 | 244,660 |
Total liabilities and stockholdersb equity | 709,360 | 354,927 |
Common Class B [Member] | ' | ' |
Stockholdersb equity (deficit) | ' | ' |
Common Stock | 3 | 4 |
Common Class A [Member] | ' | ' |
Stockholdersb equity (deficit) | ' | ' |
Common Stock | $4 | $3 |
Consolidated_Balance_Sheets_Ba
Consolidated Balance Sheets Balance Sheet Parenthetical (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Valuation Allowances and Reserves, Balance | $766 | $805 |
Common Class B [Member] | ' | ' |
Par value of authorized shares | $0.00 | $0.00 |
Shares authorized for issuance | 75,000,000 | 75,000,000 |
Shares issued and outstanding | 27,763,181 | 33,421,033 |
Common Stock, Shares, Outstanding | 27,763,181 | 33,421,033 |
Common Class A [Member] | ' | ' |
Par value of authorized shares | $0.00 | $0.00 |
Shares authorized for issuance | 750,000,000 | 750,000,000 |
Shares issued and outstanding | 40,051,054 | 28,777,653 |
Common Stock, Shares, Outstanding | 40,051,054 | 28,777,653 |
Consolidated_Statement_of_Oper
Consolidated Statement of Operations (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Revenues | ' | ' | ||
License | $48,445 | $26,426 | ||
Maintenance and services | 26,106 | 13,592 | ||
Total revenues | 74,551 | 40,018 | ||
Cost of revenues | ' | ' | ||
License | 164 | 176 | ||
Maintenance and services | 7,029 | 3,374 | ||
Total cost of revenues | 7,193 | [1] | 3,550 | [1] |
Gross profit | 67,358 | 36,468 | ||
Operating expenses | ' | ' | ||
Sales and marketing | 39,321 | [1] | 23,673 | [1] |
Research and development | 22,174 | [1] | 12,941 | [1] |
General and administrative | 7,757 | [1] | 5,601 | [1] |
Total operating expenses | 69,252 | 42,215 | ||
Operating income (loss) | -1,894 | -5,747 | ||
Other income (expense), net | -207 | -53 | ||
Loss before income tax expense (benefit) | -2,101 | -5,800 | ||
Income tax expense (benefit) | 3,528 | -1,765 | ||
Net income (loss) | -5,629 | -4,035 | ||
Net income (loss) per share attributable to common stockholders | ' | ' | ||
Basic (in usd per share) | ($0.09) | ($0.12) | ||
Diluted (in usd per share) | ($0.09) | ($0.12) | ||
Weighted average shares used to compute net income (loss) per share attributable to common stockholders | ' | ' | ||
Basic (in shares) | 63,444 | 34,833 | ||
Diluted (in shares) | 63,444 | 34,833 | ||
Cost of Revenues [Member] | ' | ' | ||
Share-based Compensation [Abstract] | ' | ' | ||
Allocated Share-based Compensation Expense | 339 | 73 | ||
Sales and Marketing [Member] | ' | ' | ||
Share-based Compensation [Abstract] | ' | ' | ||
Allocated Share-based Compensation Expense | 3,159 | 819 | ||
Research and Development [Member] | ' | ' | ||
Share-based Compensation [Abstract] | ' | ' | ||
Allocated Share-based Compensation Expense | 3,404 | 1,035 | ||
General and Administrative [Member] | ' | ' | ||
Share-based Compensation [Abstract] | ' | ' | ||
Allocated Share-based Compensation Expense | $1,061 | $572 | ||
[1] | Includes stock-based compensation expense as follows:B Three Months Ended March 31,B 2014B 2013B (in thousands)Cost of revenues$339B $73Sales and marketing3,159B 819Research and development3,404B 1,035General and administrative1,061B 572 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (Loss) Statement (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Net loss | ($5,629) | ($4,035) |
Other comprehensive loss: | ' | ' |
Foreign currency translation adjustment | 15 | -10 |
Total comprehensive income (loss) | ($5,614) | ($4,045) |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating activities | ' | ' |
Net loss | ($5,629) | ($4,035) |
Adjustment to reconcile net income (loss) to net cash provided by operating activities | ' | ' |
Depreciation and amortization expense | 2,520 | 1,342 |
Provision for doubtful accounts | 0 | 18 |
Stock-based compensation expense | 7,963 | 2,499 |
Excess tax benefit from stock-based compensation | -3,329 | -43 |
Deferred income taxes | 3,381 | 64 |
Changes in operating assets and liabilities | ' | ' |
Accounts receivable | 10,655 | 2,590 |
Prepaid expenses, deposits and other assets | 92 | -547 |
Income taxes receivable | -36 | -2,536 |
Deferred revenue | 3,953 | 5,561 |
Accounts payable and accrued liabilities | -5,172 | -748 |
Income taxes payable | -72 | 40 |
Net cash provided by operating activities | 14,326 | 4,205 |
Investing activities | ' | ' |
Purchase of property and equipment | -3,708 | -3,038 |
Net cash used in investing activities | -3,708 | -3,038 |
Financing activities | ' | ' |
Proceeds from public offering, net of underwriters discount and offering costs | 344,386 | 0 |
Proceeds from exercise of stock options | 5,477 | 1,052 |
Deferred initial public offering costs | 0 | -1,050 |
Excess tax benefit from stock-based compensation | 3,329 | 43 |
Net cash provided by financing activities | 353,192 | 45 |
Effect of exchange rate changes on cash and cash equivalents | 24 | -34 |
Net increase in cash and cash equivalents | 363,834 | 1,178 |
Cash and cash equivalents | ' | ' |
Beginning of year | 252,674 | 39,302 |
End of year | 616,508 | 40,480 |
Accrued public offering costs | 350 | 79 |
Accrued purchases of property and equipment | $2,595 | $541 |
Description_of_Business
Description of Business | 3 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Description of Business | ' |
Description of Business | |
Tableau Software, Inc. (the “Company,” "we," "us" or "our"), a Delaware corporation, and its wholly-owned subsidiaries are headquartered in Seattle, Washington. Our software products put the power of data into the hands of everyday people, allowing a broad population of business users to engage with their data, ask questions, solve problems and create value. Based on innovative core technologies originally developed at Stanford University, our products dramatically reduce the complexity, inflexibility and expense associated with traditional business intelligence applications. We currently make four key products; Tableau Desktop, a self-service, powerful analytics product for anyone with data; Tableau Server, a business intelligence platform for organizations; Tableau Online, a cloud-based hosted version of Tableau Server; and Tableau Public, a free cloud-based platform for analyzing and sharing public data. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial information has been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet data as of December 31, 2013 was derived from audited financial statements, but does not include all disclosures required by GAAP. The condensed consolidated financial information should be read in conjunction with the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the SEC on February 27, 2014. | |
In the opinion of management, the accompanying unaudited condensed consolidated financial information includes all normal recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations, comprehensive loss and cash flows for the interim periods, but is not necessarily indicative of the results that may be expected for the year ending December 31, 2014. All intercompany accounts and transactions have been eliminated in consolidation. | |
Public Offering | |
In March 2014, we closed a follow-on offering, in which we sold 4,000,000 shares of our Class A common stock at a price to the public of $89.25 per share. The aggregate offering price for shares sold in the offering was approximately $344.0 million, net of underwriting discounts, commissions and offering costs. | |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include depreciable lives for property and equipment, stock-based compensation, income taxes, accrued liabilities, and collectability of accounts receivable. Actual results could differ from those estimates. | |
Risks and Uncertainties | |
Inherent in our business are various risks and uncertainties, including our limited operating history and development of advanced technologies in a rapidly changing industry. These risks include our ability to manage our rapid growth and our ability to attract new customers and expand sales to existing customers, as well as other risks and uncertainties. In the event that we do not successfully implement our business plan, certain assets may not be recoverable, certain liabilities may not be paid and investments in our capital stock may not be recoverable. Our success depends upon the acceptance of our technology, development of sales and distribution channels, and our ability to generate significant revenues from the use of our technology. | |
Segments | |
We follow the authoritative literature that established annual and interim reporting standards for an enterprise’s operating segments and related disclosures about its products and services, geographic regions and major customers. | |
We operate our business as one operating segment. Our chief operating decision makers are our Chief Executive Officer and Chief Financial Officer, who review financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. | |
Concentrations of Risk | |
Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We extend credit to customers based upon an evaluation of the customer’s financial condition and generally collateral is not required. As of March 31, 2014 and December 31, 2013, no individual customer accounted for 10% or more of total accounts receivable. For the three months ended March 31, 2014 and 2013, no individual customer represented 10% or more of our total revenues. | |
Property and Equipment | |
Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets generally ranging from three to seven years. Leasehold improvements are amortized over the shorter of their estimated useful life or the remaining lease term. | |
Leased buildings under build-to-suit lease arrangements are capitalized and included in property and equipment when we are involved in the construction of the structural improvements or take construction risk prior to the commencement of the lease. Upon completion of the construction under the build-to-suit leases, we assess whether those arrangements qualify for sales recognition under the sale-leaseback accounting guidance. If we continue to be the deemed owner, the facilities would be accounted for as financing leases. | |
When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in results of operations. Maintenance and repairs that do not improve or extend the lives of the respective assets are charged to expense in the period incurred. | |
Recent Accounting Pronouncements | |
As an “emerging growth company”, the Jumpstart Our Business Startups Act allows us to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. |
Stockholders_Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2014 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
Stockholders' Equity | |
Common Stock | |
Our certificate of incorporation, as amended and restated, authorizes us to issue 75,000,000 shares of Class B common stock, $0.0001 par value per share, and 750,000,000 shares of Class A common stock, $0.0001 par value per share. Each holder of Class B common stock is entitled to ten votes per share and each holder of Class A common stock is entitled to one vote per share. At its discretion, the board of directors may declare dividends on shares of common stock, subject to the rights of our preferred stockholders, if any. Upon liquidation or dissolution, holders of common stock will receive distributions only after preferred stock preferences have been satisfied. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Stock-Based Compensation | ' | |||||||||||||
Stock-Based Compensation | ||||||||||||||
A summary of the option activity under our equity incentive plan during the three months ended March 31, 2014 is presented below: | ||||||||||||||
Options Outstanding | ||||||||||||||
Shares | Weighted Average Exercise Price Per Share | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||||
(in years) | (in thousands) | |||||||||||||
Balances at December 31, 2013 | 12,236,400 | $ | 7.64 | |||||||||||
Options exercised | (1,615,549 | ) | 3.39 | |||||||||||
Options forfeited | (72,570 | ) | 13.38 | |||||||||||
Balances at March 31, 2014 | 10,548,281 | $ | 8.25 | 7.4 | $ | 715,450 | ||||||||
Vested and expected to vest at March 31, 2014 | 10,251,945 | $ | 8.13 | 7.4 | $ | 696,610 | ||||||||
Exercisable at March 31, 2014 | 4,887,401 | $ | 4.72 | 6.2 | $ | 348,767 | ||||||||
We also grant Restricted Stock Unit ("RSU") awards to our employees and non-employee directors under the provisions of our equity incentive plan. The fair value of an RSU is determined by using the closing price of our Class A common stock on the New York Stock Exchange on the date of grant. An RSU award entitles the holder to receive shares of the Company’s Class A common stock as the award vests, which is generally based on length of service. The Company's unvested RSUs do not have nonforfeitable rights to dividends or dividend equivalents. | ||||||||||||||
The following provides a summary of our RSU activity during the three months ended March 31, 2014: | ||||||||||||||
Number of Shares Underlying Outstanding RSUs | Weighted-Average Grant-Date Fair Value per RSU | |||||||||||||
RSUs outstanding at December 31, 2013 | 574,350 | $ | 64.06 | |||||||||||
RSUs granted | 942,856 | 97.64 | ||||||||||||
RSUs forfeited | (4,278 | ) | 75.03 | |||||||||||
RSUs outstanding at March 31, 2014 | 1,512,928 | $ | 84.95 | |||||||||||
Stock-based compensation expense is amortized using the straight-line method over the vesting period. As of March 31, 2014, total unrecognized compensation cost, adjusted for estimated forfeitures, related to stock options and unvested RSUs was approximately $139.8 million, which is expected to be recognized over a period of approximately 3.5 years. | ||||||||||||||
The summary of shares available for issuance for equity based awards (including stock options and RSUs) for the three months ended March 31, 2014 are as follows: | ||||||||||||||
Shares Available for Grant | ||||||||||||||
Balances at December 31, 2013 | 5,313,281 | |||||||||||||
Authorized | 3,109,934 | |||||||||||||
Granted | (942,856 | ) | ||||||||||||
Forfeited | 76,848 | |||||||||||||
Balances at March 31, 2014 | 7,557,207 | |||||||||||||
Income_Tax
Income Tax | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
Our income tax expense or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. | |
Our effective tax rate was (167.9)% and 30.4% for the three months ended March 31, 2014 and 2013, respectively. The change in effective tax rate is primarily due to the expiration of the U.S. research and development ("R&D") tax credits as of December 31, 2013 and an increase in non-deductible stock-based compensation. | |
During the three months ended March 31, 2014, we recognized income tax expense of $3.5 million, which includes $0.8 million of discrete tax benefits relating to disqualifying dispositions on incentive stock options. During the three months ended March 31, 2013, we recognized an income tax benefit of $1.8 million, which included $1.1 million of discrete tax benefits relating to the reinstatement of the U.S. research and development tax credits. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
Commitments and Contingencies | |||||
As of March 31, 2014, our principal obligations consisted of obligations outstanding under non-cancellable leases. We lease our facilities under operating leases that expire at various dates through 2020. The following table represents our non-cancellable minimum lease payments as of March 31, 2014 (in thousands): | |||||
Period Ending | Amount | ||||
Remainder of 2014 | $ | 5,124 | |||
2015 | 4,882 | ||||
2016 | 3,381 | ||||
2017 | 2,649 | ||||
2018 | 1,419 | ||||
Thereafter | 1,286 | ||||
Total | $ | 18,741 | |||
On February 5, 2014, we entered into a ten year lease agreement for which the lease term begins upon completion of leasehold improvements. We expect the lease term and our occupancy to begin during August 2014. The lease includes two optional renewal periods of five years each. We capitalize construction in progress and record a corresponding long-term liability for a build-to-suit lease agreement under which we are considered the owner, for accounting purposes, during the construction period. The construction period began during the second quarter of 2014. We will be involved in the construction of structural improvements and take construction risk prior to commencement of the lease. Accordingly, we are considered the accounting owner during the construction period and we recognized building costs and a related long-term financing obligation once construction activities began during the second quarter of 2014. | |||||
We are subject to certain routine legal proceedings, as well as demands and claims that arise in the normal course of our business. We make a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed and adjusted to include the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel, and other information and events pertaining to a particular matter. | |||||
We are not aware of any pending legal proceedings that, individually or in the aggregate, would have a material adverse effect on our business, operating results, or financial conditions. We may in the future be party to litigation arising in the ordinary course of business, including claims that we allegedly infringe upon third party intellectual property rights. Such claims, even if not meritorious, could result in the expenditure of significant financial and management resources. |
Segments_and_Information_about
Segments and Information about Revenues by Geographic Region | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting [Abstract] | ' | |||||||
Segments and Information about Revenues by Geographic Area | ' | |||||||
Segments and Information about Revenues by Geographic Area | ||||||||
The following table presents our revenues by geographic region of end users who purchased products or services for the periods presented below: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
United States and Canada | $ | 57,766 | $ | 32,572 | ||||
International | 16,785 | 7,446 | ||||||
Total revenues | $ | 74,551 | $ | 40,018 | ||||
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Net Income (Loss) Per Share | ' | |||||||
Net Income (Loss) Per Share | ||||||||
Immediately prior to the closing of the our initial public offering ('IPO") in May 2013, all outstanding shares of our Series A preferred stock and Series B preferred stock were converted into Class B common stock. We issued 6,230,000 shares of Class A common stock in the IPO. In addition, 3,200,000 shares of Class B common stock (including 2,000,000 shares of Class B common stock issued upon the conversion of our preferred stock) held by our existing stockholders were converted into Class A common stock and sold in the IPO. As a result, as of March 31, 2014, Class A and Class B common stock are the only outstanding classes of capital stock of the Company. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each holder of Class B common stock is entitled to ten votes per share and each share of Class A common stock is entitled to one vote per share. Shares of Class B common stock may be converted into Class A common stock at any time at the option of the stockholder, and are automatically converted upon sale or transfer to Class A common stock, subject to certain limited exceptions. | ||||||||
Net income per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities for periods in which we have net income. As Series A and Series B preferred stock did not have a contractual obligation to share in our losses, there was no allocations to preferred shares in the three months ended March 31, 2013. As all shares of Series A and Series B preferred stock were converted into shares of Class B common stock in connection with our IPO, there have been no shares of preferred stock outstanding since the IPO, and therefore there was no allocation to preferred shares in the three months ended March 31, 2014. | ||||||||
The following table presents the computation of basic and diluted net loss per share attributable to common stockholders: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands, except per share amounts) | ||||||||
Basic and diluted net loss attributable to common stockholders: | ||||||||
Net loss attributable to common stockholders - basic and diluted | $ | (5,629 | ) | $ | (4,035 | ) | ||
Weighted average shares outstanding used to compute basic and diluted net income per share | 63,444 | 34,833 | ||||||
Net loss per share attributable to common stockholders - basic and diluted | $ | (0.09 | ) | $ | (0.12 | ) | ||
For the three months ended March 31, 2014 and 2013 outstanding stock awards were antidilutive because of our net loss, and as such, their effect has not been included in the calculation of basic or diluted net loss per share attributable to common stockholders. | ||||||||
The following shares subject to outstanding awards and convertible preferred shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented as their effect would have been antidilutive: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Shares subject to outstanding common stock awards | 12,061 | 15,160 | ||||||
Convertible preferred shares | — | 17,416 | ||||||
Total potentially dilutive shares | 12,061 | 32,576 | ||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
Fair Value Measurements | |||||||||||||||||
We categorize assets and liabilities recorded at fair value based upon the level of judgment associated with inputs used to measure their fair value. The levels of the fair value hierarchy are as follows: | |||||||||||||||||
• | Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
• | Level 2—Inputs are quoted prices for similar assets and liabilities in active markets or quoted prices | ||||||||||||||||
for identical or similar instruments in markets that are not active and model-derived valuations in | |||||||||||||||||
which all significant inputs and significant value drivers are observable in active markets. | |||||||||||||||||
• | Level 3—Inputs are unobservable inputs based on our own assumptions and valuation | ||||||||||||||||
techniques used to measure assets and liabilities at fair value. The inputs require significant | |||||||||||||||||
management judgment or estimation. | |||||||||||||||||
Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. | |||||||||||||||||
The following table presents the fair value of our financial assets using the fair value hierarchy: | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(in thousands) | |||||||||||||||||
Money market funds | $ | 605,527 | $ | — | $ | — | $ | 605,527 | |||||||||
December 31, 2013 | |||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(in thousands) | |||||||||||||||||
Money market funds | $ | 238,810 | $ | — | $ | — | $ | 238,810 | |||||||||
We have no financial assets or liabilities measured using Level 2 or Level 3 inputs. |
Subsequent_Events
Subsequent Events | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Subsequent Events [Abstract] | ' | ||||
Subsequent Events | ' | ||||
Subsequent Events | |||||
During the second quarter of 2014, we commenced construction activities for tenant improvements on an office space and recognized approximately $11.6 million in building costs and a related financing obligation for the build-to-suit construction project in which we are considered the accounting owner during the construction period. Additionally, during the second quarter of 2014 the underlying lease agreement became non-cancellable and the following represents our additional non-cancellable minimum lease payments related to this lease: | |||||
Period Ending | Amount | ||||
(in thousands) | |||||
Remainder of 2014 | $ | 637 | |||
2015 | 1,547 | ||||
2016 | 1,594 | ||||
2017 | 1,642 | ||||
2018 | 1,691 | ||||
Thereafter | 10,408 | ||||
Total | $ | 17,519 | |||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial information has been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet data as of December 31, 2013 was derived from audited financial statements, but does not include all disclosures required by GAAP. The condensed consolidated financial information should be read in conjunction with the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the SEC on February 27, 2014. | |
In the opinion of management, the accompanying unaudited condensed consolidated financial information includes all normal recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations, comprehensive loss and cash flows for the interim periods, but is not necessarily indicative of the results that may be expected for the year ending December 31, 2014. All intercompany accounts and transactions have been eliminated in consolidation. | |
Pubic Offering | ' |
Public Offering | |
In March 2014, we closed a follow-on offering, in which we sold 4,000,000 shares of our Class A common stock at a price to the public of $89.25 per share. The aggregate offering price for shares sold in the offering was approximately $344.0 million, net of underwriting discounts, commissions and offering costs. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include depreciable lives for property and equipment, stock-based compensation, income taxes, accrued liabilities, and collectability of accounts receivable. Actual results could differ from those estimates. | |
Segments | ' |
Segments | |
We follow the authoritative literature that established annual and interim reporting standards for an enterprise’s operating segments and related disclosures about its products and services, geographic regions and major customers. | |
We operate our business as one operating segment. Our chief operating decision makers are our Chief Executive Officer and Chief Financial Officer, who review financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. | |
Concentrations of Credit Risk | ' |
Concentrations of Risk | |
Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We extend credit to customers based upon an evaluation of the customer’s financial condition and generally collateral is not required. | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property and Equipment | |
Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets generally ranging from three to seven years. Leasehold improvements are amortized over the shorter of their estimated useful life or the remaining lease term. | |
Leased buildings under build-to-suit lease arrangements are capitalized and included in property and equipment when we are involved in the construction of the structural improvements or take construction risk prior to the commencement of the lease. Upon completion of the construction under the build-to-suit leases, we assess whether those arrangements qualify for sales recognition under the sale-leaseback accounting guidance. If we continue to be the deemed owner, the facilities would be accounted for as financing leases. | |
When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in results of operations. Maintenance and repairs that do not improve or extend the lives of the respective assets are charged to expense in the period incurred. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
As an “emerging growth company”, the Jumpstart Our Business Startups Act allows us to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Summary of Option Activity | ' | |||||||||||||
A summary of the option activity under our equity incentive plan during the three months ended March 31, 2014 is presented below: | ||||||||||||||
Options Outstanding | ||||||||||||||
Shares | Weighted Average Exercise Price Per Share | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||||
(in years) | (in thousands) | |||||||||||||
Balances at December 31, 2013 | 12,236,400 | $ | 7.64 | |||||||||||
Options exercised | (1,615,549 | ) | 3.39 | |||||||||||
Options forfeited | (72,570 | ) | 13.38 | |||||||||||
Balances at March 31, 2014 | 10,548,281 | $ | 8.25 | 7.4 | $ | 715,450 | ||||||||
Vested and expected to vest at March 31, 2014 | 10,251,945 | $ | 8.13 | 7.4 | $ | 696,610 | ||||||||
Exercisable at March 31, 2014 | 4,887,401 | $ | 4.72 | 6.2 | $ | 348,767 | ||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | ' | |||||||||||||
The following provides a summary of our RSU activity during the three months ended March 31, 2014: | ||||||||||||||
Number of Shares Underlying Outstanding RSUs | Weighted-Average Grant-Date Fair Value per RSU | |||||||||||||
RSUs outstanding at December 31, 2013 | 574,350 | $ | 64.06 | |||||||||||
RSUs granted | 942,856 | 97.64 | ||||||||||||
RSUs forfeited | (4,278 | ) | 75.03 | |||||||||||
RSUs outstanding at March 31, 2014 | 1,512,928 | $ | 84.95 | |||||||||||
quity based awards (including stock options and RSUs) for the three months ended March 31, 2014 are as follows: | ||||||||||||||
Shares Available for Grant | ||||||||||||||
Balances at December 31, 2013 | 5,313,281 | |||||||||||||
Authorized | 3,109,934 | |||||||||||||
Granted | (942,856 | ) | ||||||||||||
Forfeited | 76,848 | |||||||||||||
Balances at March 31, 2014 | 7,557,207 | |||||||||||||
Commitments_and_Contigencies_T
Commitments and Contigencies (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Future Minimum Lease Payments | ' | ||||
The following table represents our non-cancellable minimum lease payments as of March 31, 2014 (in thousands): | |||||
Period Ending | Amount | ||||
Remainder of 2014 | $ | 5,124 | |||
2015 | 4,882 | ||||
2016 | 3,381 | ||||
2017 | 2,649 | ||||
2018 | 1,419 | ||||
Thereafter | 1,286 | ||||
Total | $ | 18,741 | |||
Segments_and_Information_about1
Segments and Information about Revenues by Geographic Region (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting [Abstract] | ' | |||||||
Reconciliation of Revenue from Segments to Consolidated | ' | |||||||
The following table presents our revenues by geographic region of end users who purchased products or services for the periods presented below: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
United States and Canada | $ | 57,766 | $ | 32,572 | ||||
International | 16,785 | 7,446 | ||||||
Total revenues | $ | 74,551 | $ | 40,018 | ||||
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Computation of Earnings Per Share, Basic and Diluted | ' | |||||||
The following table presents the computation of basic and diluted net loss per share attributable to common stockholders: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands, except per share amounts) | ||||||||
Basic and diluted net loss attributable to common stockholders: | ||||||||
Net loss attributable to common stockholders - basic and diluted | $ | (5,629 | ) | $ | (4,035 | ) | ||
Weighted average shares outstanding used to compute basic and diluted net income per share | 63,444 | 34,833 | ||||||
Net loss per share attributable to common stockholders - basic and diluted | $ | (0.09 | ) | $ | (0.12 | ) | ||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | |||||||
The following shares subject to outstanding awards and convertible preferred shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented as their effect would have been antidilutive: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
Shares subject to outstanding common stock awards | 12,061 | 15,160 | ||||||
Convertible preferred shares | — | 17,416 | ||||||
Total potentially dilutive shares | 12,061 | 32,576 | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Assets | ' | ||||||||||||||||
The following table presents the fair value of our financial assets using the fair value hierarchy: | |||||||||||||||||
March 31, 2014 | |||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(in thousands) | |||||||||||||||||
Money market funds | $ | 605,527 | $ | — | $ | — | $ | 605,527 | |||||||||
December 31, 2013 | |||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
(in thousands) | |||||||||||||||||
Money market funds | $ | 238,810 | $ | — | $ | — | $ | 238,810 | |||||||||
Subsequent_Events_Tables
Subsequent Events (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Subsequent Events [Abstract] | ' | ||||
Schedule of future minimum lease payments | ' | ||||
Additionally, during the second quarter of 2014 the underlying lease agreement became non-cancellable and the following represents our additional non-cancellable minimum lease payments related to this lease: | |||||
Period Ending | Amount | ||||
(in thousands) | |||||
Remainder of 2014 | $ | 637 | |||
2015 | 1,547 | ||||
2016 | 1,594 | ||||
2017 | 1,642 | ||||
2018 | 1,691 | ||||
Thereafter | 10,408 | ||||
Total | $ | 17,519 | |||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | 22-May-13 | Mar. 31, 2014 | Mar. 31, 2013 | 22-May-13 | Mar. 21, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 |
segment | Common Class A [Member] | Common Class A [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Revenue [Member] | Revenue [Member] | |||
Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | ||||||
customer | customer | customer | customer | ||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | 4,000,000 | ' | 3,200,000 | ' | ' | ' | ' | ' |
Price per share of stock sold in IPO (in $ per share) | ' | ' | ' | ' | $89.25 | ' | ' | ' | ' |
Proceeds from public offering, net of underwriters discount and offering costs | $344,000 | $344,386 | $0 | ' | ' | ' | ' | ' | ' |
Number of Operating Segments | ' | 1 | ' | ' | ' | ' | ' | ' | ' |
Number of Customers with more than 10% of Period Receivables | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Number of Customers with More than 10% of Period Revenue | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
votes | ||
Common Class B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares authorized for issuance | 75,000,000 | 75,000,000 |
Par value of authorized shares | $0.00 | $0.00 |
Votes per share entitled to share holder | 10 | ' |
Common Class A [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares authorized for issuance | 750,000,000 | 750,000,000 |
Par value of authorized shares | $0.00 | $0.00 |
Votes per share entitled to share holder | 1 | ' |
StockBased_Compensation_Detail
Stock-Based Compensation (Details 1) (Details) (USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 |
Share-based Compensation [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '7 years 5 months 0 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Options Outstanding, Shares, Beginning of Period | 12,236,400 |
Options Outstanding, Shares, Options exercised | -1,615,549 |
Options Outstanding, Shares, Forfeited | -72,570 |
Options Outstanding, Shares, End of Period | 10,548,281 |
Options Outstanding, Shares, Vested and Expected to Vest | 10,251,945 |
Options Outstanding, Shares, Exercisable | 4,887,401 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Options Outstanding, Weighted Average Exercise Price, Beginning of Period, USD per share | $7.64 |
Options Outstanding, Weighted Average Exercise Price, Options exercised, USD per share | $3.39 |
Options Outstanding, Weighted Average Exercise Price, Options forfeited, USD per share | $13.38 |
Options Outstanding, Weighted Average Exercise Price, End of Period, USD per share | $8.25 |
Options Outstanding, Weighted Average Exercise Price Per Share, Vested and Expected to Vest, USD per share | $8.13 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '7 years 4 months 20 days |
Options Outstanding, Weighted Average Exercise Price Per Share, Exercisable, USD per share | $4.72 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '6 years 2 months 26 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' |
Options Outstanding, Aggregate Intrinsic Value | $715,450 |
Options Outstanding, Aggregate Intrinsic Value, Vested and Expected to Vest | 696,610 |
Options Outstanding, Aggregate Intrinsic Value, Exercisable | $348,767 |
StockBased_Compensation_Stock_
Stock-Based Compensation Stock Based Compensation (RSU) Details 2 (Details) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' |
RSUs granted | 942,856 |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' |
Shares Outstanding, Beginning of Period | 574,350 |
RSUs granted | 942,856 |
RSUs forfeited | -4,278 |
Shares Outstanding, End of Period | 1,512,928 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Exercise Price [Roll Forward] | ' |
Weighted Average Fair Value, Beginning of Period, USD per share | 64.06 |
Weighted Average Fair Value, RSUs granted, USD per share | 97.64 |
Weighted Average Fair Value, RSUs forfeited, USD per share | 75.03 |
Weighted Average Fair Value, End of Period, USD per share | 84.95 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized compensation cost | 139.8 |
Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Vesting period | '3 years 6 months 0 days |
StockBased_Compensation_StockB
Stock-Based Compensation Stock-Based Compensation (Details 3) (Details) (USD $) | 3 Months Ended |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 3,109,934 |
Unrecognized compensation cost | $139.80 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Equity based awards, beginning of period | 5,313,281 |
Granted | 942,856 |
Forfeited | 76,848 |
Equity based awards, end of period | 7,557,207 |
Income_Tax_Narrative_Details
Income Tax - Narrative (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective tax rate | -167.90% | 30.40% |
Income tax expense (benefit) | $3,528,000 | ($1,765,000) |
Discrete tax benefit related to incentive stock option | -800,000 | ' |
Discrete tax benefit related to research and development | ' | ($1,100,000) |
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies - Obligations (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Operating Leases, Remainder of 2014 | $5,124 |
Operating Leases, 2015 | 4,882 |
Operating Leases, 2016 | 3,381 |
Operating Leases, 2017 | 2,649 |
Operating Leases, 2018 | 1,419 |
Operating Leases, Thereafter | 1,286 |
Operating Leases, Total minimum lease payments | $18,741 |
Segments_and_Information_about2
Segments and Information about Revenues by Geographic Region (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | $74,551 | $40,018 |
United States and Canada | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | 57,766 | 32,572 |
International [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Revenues | $16,785 | $7,446 |
Net_Income_Loss_Per_Share_Deta
Net Income (Loss) Per Share (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | 22-May-13 | 22-May-13 |
Common Class A [Member] | Common Class B [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Number of shares sold by existing shareholders | ' | ' | 2,000,000 | 6,230,000 |
Stock Issued During Period, Shares, New Issues | 4,000,000 | ' | 3,200,000 | ' |
Net loss attributable to common stockholders - basic and diluted | ($5,629) | ($4,035) | ' | ' |
Weighted average shares outstanding used to compute basic and diluted net income per share | 63,444,000 | 34,833,000 | ' | ' |
Net loss per share attributable to common stockholders - basic and diluted | ($0.09) | ($0.12) | ' | ' |
Net_Income_Loss_Per_Share_Sche
Net Income (Loss) Per Share Schedule of Antidilutive Securities (Details) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Potentially dilutive shares | 12,061 | 32,576 |
Shares subject to outstanding common stock awards | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Potentially dilutive shares | 12,061 | 15,160 |
Convertible preferred shares | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' |
Potentially dilutive shares | 0 | 17,416 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (Money Market Funds [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments fair value | $605,527 | $238,810 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments fair value | 605,527 | 238,810 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments fair value | 0 | 0 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments fair value | $0 | $0 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event, USD $) | 7-May-14 |
Subsequent Event | ' |
Subsequent Event [Line Items] | ' |
Costs recognized related to tenant improvements | $11,600,000 |
Remainder of 2014 | 637,000 |
2015 | 1,547,000 |
2016 | 1,594,000 |
2017 | 1,642,000 |
2018 | 1,691,000 |
Thereafter | 10,408,000 |
Total | $17,519,000 |