Document and Entity Information
Document and Entity Information Statement - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document Information | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | DATA | |
Entity Registrant Name | TABLEAU SOFTWARE INC | |
Entity Central Index Key | 0001303652 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Class A common stock | ||
Document Information | ||
Entity Common Stock, Shares Outstanding | 75,799,434 | |
Class B common stock | ||
Document Information | ||
Entity Common Stock, Shares Outstanding | 10,380,023 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 501,056 | $ 653,022 |
Short-term investments | 554,042 | 369,355 |
Accounts receivable, net of allowance for doubtful accounts of $1,809 and $1,608 | 177,188 | 236,063 |
Prepaid expenses and other current assets | 172,498 | 155,012 |
Income taxes receivable | 2,422 | 2,268 |
Total current assets | 1,407,206 | 1,415,720 |
Long-term investments | 4,668 | 26,278 |
Property and equipment, net | 102,477 | 94,537 |
Operating lease right-of-use assets | 217,796 | 0 |
Goodwill | 45,430 | 42,530 |
Deferred income taxes | 5,633 | 4,733 |
Other long-term assets | 56,446 | 50,927 |
Total assets | 1,839,656 | 1,634,725 |
Current liabilities | ||
Accounts payable | 12,201 | 6,652 |
Accrued compensation and employee-related benefits | 89,380 | 105,155 |
Other accrued liabilities | 72,457 | 55,896 |
Income taxes payable | 1,312 | 2,982 |
Deferred revenue | 362,740 | 377,892 |
Total current liabilities | 538,090 | 548,577 |
Deferred revenue | 19,445 | 16,306 |
Operating lease liabilities | 251,904 | 0 |
Other long-term liabilities | 11,232 | 56,257 |
Total liabilities | 820,671 | 621,140 |
Commitments and contingencies (Note 10) | ||
Stockholders' equity | ||
Additional paid-in capital | 1,432,437 | 1,340,628 |
Accumulated other comprehensive loss | (8,986) | (11,458) |
Accumulated deficit | (404,475) | (315,593) |
Total stockholders' equity | 1,018,985 | 1,013,585 |
Total liabilities and stockholders' equity | 1,839,656 | 1,634,725 |
Preferred Stock | ||
Stockholders' equity | ||
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; none issued | 0 | 0 |
Class B common stock | ||
Stockholders' equity | ||
Common stock | 1 | 1 |
Class A common stock | ||
Stockholders' equity | ||
Common stock | $ 8 | $ 7 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets Balance Sheet Parenthetical - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Allowance for doubtful accounts | $ 1,809 | $ 1,608 |
Preferred Stock, Par Value (in usd per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Class B common stock | ||
Common Stock, Par Value (in usd per share) | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 10,380,023 | 11,042,131 |
Common Stock, Shares Outstanding | 10,380,023 | 11,042,131 |
Class A common stock | ||
Common Stock, Par Value (in usd per share) | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 750,000,000 | 750,000,000 |
Common Stock, Shares Issued | 75,797,384 | 73,314,823 |
Common Stock, Shares Outstanding | 75,797,384 | 73,314,823 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | ||
Revenues | |||
Total revenues | $ 282,460 | $ 246,207 | |
Cost of revenues | |||
Total cost of revenues | [1] | 39,429 | 32,425 |
Gross profit | 243,031 | 213,782 | |
Operating expenses | |||
Sales and marketing | [1] | 162,342 | 138,406 |
Research and development | [1] | 112,144 | 93,505 |
General and administrative | [1] | 61,725 | 32,250 |
Total operating expenses | 336,211 | 264,161 | |
Operating loss | (93,180) | (50,379) | |
Other income, net | 5,186 | 1,462 | |
Loss before income tax expense (benefit) | (87,994) | (48,917) | |
Income tax expense (benefit) | 888 | (2,445) | |
Net loss | $ (88,882) | $ (46,472) | |
Net loss per share: | |||
Basic | $ (1.04) | $ (0.57) | |
Diluted | $ (1.04) | $ (0.57) | |
Weighted average shares used to compute net loss per share: | |||
Basic | 85,434 | 81,039 | |
Diluted | 85,434 | 81,039 | |
License | |||
Revenues | |||
Total revenues | $ 117,552 | $ 108,793 | |
Cost of revenues | |||
Total cost of revenues | 5,627 | 3,954 | |
Maintenance and services | |||
Revenues | |||
Total revenues | 164,908 | 137,414 | |
Cost of revenues | |||
Total cost of revenues | $ 33,802 | $ 28,471 | |
[1] | Includes stock-based compensation expense as follows: Three Months Ended March 31, 2019 2018 (in thousands)Cost of revenues$3,852 $2,987Sales and marketing22,993 20,015Research and development31,641 25,157General and administrative7,133 7,604 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations Parenthetical - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cost of revenues | ||
Stock-based Compensation Expense | $ 3,852 | $ 2,987 |
Sales and marketing | ||
Stock-based Compensation Expense | 22,993 | 20,015 |
Research and development | ||
Stock-based Compensation Expense | 31,641 | 25,157 |
General and administrative | ||
Stock-based Compensation Expense | $ 7,133 | $ 7,604 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Loss Statement - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (88,882) | $ (46,472) |
Other comprehensive income (loss), net of tax: | ||
Foreign currency translation | 1,764 | 586 |
Net unrealized gain (loss) on available-for-sale securities | 708 | (849) |
Comprehensive loss | $ (86,410) | $ (46,735) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity Statement - USD ($) $ in Thousands | Total | Common Stock (Class A and B) | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Balances (in shares) at Dec. 31, 2017 | 80,462,345 | ||||
Balances at Dec. 31, 2017 | $ 753,623 | $ 8 | $ 1,168,563 | $ (11,991) | $ (402,957) |
Increase (Decrease) in Stockholders' Equity | |||||
Issuance of common stock (in shares) | 1,438,949 | ||||
Issuance of common stock | $ 2,492 | $ 0 | 2,492 | ||
Repurchases of common stock (in shares) | (366,160) | ||||
Repurchase of common stock | $ (30,007) | (30,007) | |||
Stock-based compensation expense | 64,411 | 64,411 | |||
Other comprehensive loss, net | (263) | (263) | |||
Net loss | (46,472) | (46,472) | |||
Balances (in shares) at Mar. 31, 2018 | 81,535,134 | ||||
Balances at Mar. 31, 2018 | 909,873 | $ 8 | 1,205,459 | (10,571) | (285,023) |
Balances (in shares) at Dec. 31, 2018 | 84,356,954 | ||||
Balances at Dec. 31, 2018 | 1,013,585 | $ 8 | 1,340,628 | (11,458) | (315,593) |
Increase (Decrease) in Stockholders' Equity | |||||
Issuance of common stock (in shares) | 1,646,055 | ||||
Issuance of common stock | $ 6,287 | $ 1 | 6,286 | ||
Repurchases of common stock (in shares) | (34,986) | ||||
Repurchase of common stock | $ (4,326) | (4,326) | |||
Stock-based compensation expense | $ 65,619 | 65,619 | |||
Donation of Class A common stock (in shares) | 209,384 | ||||
Donation of Class A common stock | $ 24,230 | 24,230 | |||
Other comprehensive loss, net | 2,472 | 2,472 | |||
Net loss | (88,882) | (88,882) | |||
Balances (in shares) at Mar. 31, 2019 | 86,177,407 | ||||
Balances at Mar. 31, 2019 | $ 1,018,985 | $ 9 | $ 1,432,437 | $ (8,986) | $ (404,475) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating activities | ||
Net loss | $ (88,882) | $ (46,472) |
Adjustments to reconcile net loss to net cash provided by operating activities | ||
Depreciation and amortization expense | 14,863 | 9,647 |
Amortization (accretion) on investments, net | (723) | 118 |
Stock-based compensation expense | 65,619 | 55,763 |
Donation of Class A common stock | 24,230 | 0 |
Deferred income taxes | (1,597) | (4,226) |
Changes in operating assets and liabilities | ||
Accounts receivable, net | 58,184 | 73,012 |
Prepaid expenses and other assets | (22,864) | (22,891) |
Income taxes receivable | (137) | (194) |
Deferred revenue | (10,176) | (7,507) |
Accounts payable and accrued liabilities | (12,717) | (4,279) |
Income taxes payable | (1,651) | (356) |
Net cash provided by operating activities | 24,149 | 52,615 |
Investing activities | ||
Purchases of property and equipment | (12,042) | (5,251) |
Business combination | (4,500) | 0 |
Purchases of investments | (254,019) | (102,450) |
Maturities of investments | 92,371 | 77,385 |
Sales of investments | 0 | 99 |
Net cash used in investing activities | (178,190) | (30,217) |
Financing activities | ||
Proceeds from issuance of common stock | 6,287 | 2,492 |
Repurchases of common stock | (4,326) | (30,007) |
Net cash provided by (used in) financing activities | 1,961 | (27,515) |
Effect of exchange rate changes on cash and cash equivalents | 114 | 1,233 |
Net decrease in cash and cash equivalents | (151,966) | (3,884) |
Cash and cash equivalents | ||
Beginning of period | 653,022 | 627,878 |
End of period | 501,056 | 623,994 |
Non-cash activities | ||
Accrued purchases of property and equipment | $ 10,739 | $ 4,192 |
Description of Business
Description of Business | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | Description of Business Tableau Software, Inc., a Delaware corporation, and its wholly-owned subsidiaries (the "Company," "we," "us" or "our") 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 offer five 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 hosted software-as-a-service ("SaaS") version of Tableau Server; Tableau Prep, a data preparation product for combining, shaping and cleaning data; and Tableau Public, a free cloud-based platform for analyzing and sharing public data. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
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, 2018 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 year ended December 31, 2018 filed with the SEC on February 22, 2019 . In the opinion of management, the unaudited condensed consolidated financial statements and accompanying notes include all normal recurring adjustments necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . All intercompany accounts and transactions have been eliminated in consolidation. 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, the 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 but are not limited to: the collectability of our receivables; the evaluation of our contract assets for impairment; the useful lives of our long-lived assets; the benefit period for deferred commissions; the valuation of investments and the determination of other-than-temporary impairments; the discount rates used in measuring our operating lease liabilities; and the reported amounts of accrued liabilities. For revenue, we make estimates and assumptions related to the standalone selling prices of our products and services and the nature and timing of the delivery of performance obligations from our contracts with customers. We also use estimates in stock-based compensation, income taxes and business combinations. Actual results could differ from those estimates. Risks and Uncertainties Inherent in our business are various risks and uncertainties, including our limited history of operating our business at its current scale and development of advanced technologies in a rapidly changing industry. These risks include our ability to manage our growth, to attract new customers, to expand sales to existing customers and to attract, integrate and retain qualified personnel, 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 sale of our technology. Segments We follow the authoritative literature that establishes annual and interim reporting standards for operating segments and related disclosures about 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 Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments, accounts receivable and contract assets. Our cash and cash equivalents and investments are held and managed by recognized financial institutions that follow our investment policy. Our investment portfolio consists of investment-grade securities diversified among security types, industries and issuers. Our policy limits the amount of credit exposure to any one security issue or issuer. We extend credit to customers based upon an evaluation of the customer's financial condition. As of March 31, 2019 and December 31, 2018 , no individual customer accounted for 10% or more of total accounts receivable or 10% or more of our total contract assets. For the three months ended 2019 and 2018 , no individual customer accounted for 10% or more of our total revenues. Leases - Accounting Standards Codification 842 Leases arise from contracts which convey the right to control the use of identified property or equipment for a period of time in exchange for consideration. Our leasing arrangements are primarily for office space we use to conduct our operations. We determine whether contracts include a lease at the inception date, which is generally upon contract signing, considering factors such as whether the contract includes an asset which is physically distinct, which party obtains substantially all of the capacity and economic benefit of the asset, and which party directs how, and for what purpose, the asset is used during the contractual period of use. Our leases commence when the lessor makes the asset available for our use. At commencement we record a lease liability at the present value of future lease payments, net of any future lease incentives to be received. Many of our lease agreements include cancellable future periods subject to termination or extension options. We do not include cancellable lease periods in our future lease payments unless we are reasonably certain to continue to utilize the asset for those periods. We calculate the present value of future lease payments at commencement using a discount rate which we estimate as the collateralized borrowing rate we would incur on our future lease payments over a similar term. At commencement we also record a corresponding right-of-use asset, which is calculated based on the amount of the lease liability, adjusted for any advance lease payments paid, initial direct costs incurred or lease incentives received prior to commencement. Right-of-use assets are subject to evaluation for impairment or disposal on a basis consistent with other long-lived assets. Leases are classified at commencement as either operating or finance leases. As of March 31, 2019, all of our leases are classified as operating leases. Rent expense for operating leases is recognized on the straight-line method over the term of the agreement beginning on the lease commencement date. In accounting for leases, we utilize certain practical expedients and policy elections available under the lease accounting standard. For example, we do not record right-of-use assets or lease liabilities for leases with terms of 12 months or less. For contracts containing real estate leases, we combine lease and non-lease components. The primary impact of this policy election is that we include in our calculation of lease liabilities any fixed and noncancelable future payments due under the contract for items such as parking, common area maintenance, utilities and other costs. Lease-related costs which are variable rather than fixed are expensed in the period incurred. Assumptions, judgments and estimates impacting the carrying value of our right-of-use assets and liabilities include evaluating whether an arrangement contains a lease, determining whether the lease term should include any cancellable future periods, estimating the discount rate used to calculate our lease liabilities, estimating the fair value and useful life of the leased asset for the purpose of classifying the lease as an operating or finance lease, evaluating whether a lease contract amendment represents a new lease agreement or a modification to the existing lease and evaluating our right-of-use assets for impairment. We also account for all subleases from the perspective of a lessor. We evaluate the duration of subleases based on the reasonable certainty of any sublessor termination and extension options, as well as the lease term for the underlying asset. As of March 31, 2019, all of our subleases are classified as operating leases. For subleases classified as operating leases, we record sublease income as a reduction of operating expense on the straight-line method over the lease term. Our accounting policy under the previous lease standard, Accounting Standards Codification ("ASC") 840, is included in our Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 22, 2019. Recently Adopted Accounting Pronouncements We adopted the new lease accounting standard, ASC 842, on January 1, 2019 using the modified retrospective transition method, and recorded a balance sheet adjustment on the date of adoption. The new lease standard requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet for operating leases, and also requires additional quantitative and qualitative disclosures to enable users of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. In adopting ASC 842, we utilized certain practical expedients available under the standard. These practical expedients include waiving reassessment of conclusions reached under the previous lease standard as to whether contracts contain leases, not recording right-of-use assets or lease liabilities for leases with terms of 12 months or less, how to classify leases identified and how to account for initial direct costs incurred. We also utilized the practical expedient to use hindsight as of the date of adoption to determine the terms of our leases and to evaluate our right-of-use assets for impairment. We recorded the following adjustments to our consolidated balance sheet on the date of adoption: December 31, 2018 January 1, 2019 As Reported Adjustment Recorded Adjusted Balance (in thousands) Prepaid expenses and other current assets $ 155,012 $ (378 ) $ 154,634 Operating lease right-of-use assets — 210,914 210,914 Other long-term assets 50,927 (28 ) 50,899 Other accrued liabilities 55,896 14,500 70,396 Operating lease liabilities — 242,916 242,916 Other long-term liabilities 56,257 (46,908 ) 9,349 See Note 5 of the accompanying notes to the condensed consolidated financial statements for additional information regarding our operating leases. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued Accounting Standards Update ("ASU") 2016-13, related to credit losses. The new guidance replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. ASU 2016-13 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019. We will adopt this standard in the first quarter of 2020. We are currently evaluating the impact that this standard will have on our consolidated financial statements. |
Short-Term and Long-Term Invest
Short-Term and Long-Term Investments | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Short-term and Long-term Investments | Short-Term and Long-Term Investments The following tables present our short-term and long-term investments in available-for-sale securities based on remaining contractual years to maturity: March 31, 2019 Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Short-term investments Commercial paper $ 32,754 $ — $ — $ 32,754 U.S. treasury securities 359,659 139 (233 ) 359,565 U.S. agency securities 16,300 1 (16 ) 16,285 Corporate bonds 145,504 21 (87 ) 145,438 Total short-term investments 554,217 161 (336 ) 554,042 Long-term investments Corporate bonds 4,663 6 (1 ) 4,668 Total long-term investments 4,663 6 (1 ) 4,668 Total short-term and long-term investments $ 558,880 $ 167 $ (337 ) $ 558,710 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Short-term investments Commercial paper $ 7,949 $ — $ — $ 7,949 U.S. treasury securities 206,486 24 (457 ) 206,053 U.S. agency securities 18,576 — (61 ) 18,515 Corporate bonds 137,119 — (281 ) 136,838 Total short-term investments 370,130 24 (799 ) 369,355 Long-term investments U.S. treasury securities 13,352 5 (50 ) 13,307 Corporate bonds 13,025 2 (56 ) 12,971 Total long-term investments 26,377 7 (106 ) 26,278 Total short-term and long-term investments $ 396,507 $ 31 $ (905 ) $ 395,633 The following tables present the fair values and the gross unrealized losses related to our investments in available-for-sale securities that were in an unrealized loss position as of March 31, 2019 and December 31, 2018 , summarized by the length of time that the investments have been in a continuous unrealized loss position: March 31, 2019 Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Short-term investments U.S. treasury securities $ 80,890 $ (11 ) $ 99,972 $ (222 ) $ 180,862 $ (233 ) U.S. agency securities 2,059 — 8,560 (16 ) 10,619 (16 ) Corporate bonds 78,539 (16 ) 36,982 (71 ) 115,521 (87 ) Total short-term investments 161,488 (27 ) 145,514 (309 ) 307,002 (336 ) Long-term investments Corporate bonds 2,988 (1 ) — — 2,988 (1 ) Total long-term investments 2,988 (1 ) — — 2,988 (1 ) Total short-term and long-term investments $ 164,476 $ (28 ) $ 145,514 $ (309 ) $ 309,990 $ (337 ) December 31, 2018 Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Short-term investments U.S. treasury securities $ 89,320 $ (143 ) $ 79,472 $ (314 ) $ 168,792 $ (457 ) U.S. agency securities — — 18,515 (61 ) 18,515 (61 ) Corporate bonds 91,455 (131 ) 45,383 (150 ) 136,838 (281 ) Total short-term investments 180,775 (274 ) 143,370 (525 ) 324,145 (799 ) Long-term investments U.S. treasury securities 9,855 (50 ) — — 9,855 (50 ) Corporate bonds 11,389 (56 ) — — 11,389 (56 ) Total long-term investments 21,244 — (106 ) — — 21,244 (106 ) Total short-term and long-term investments $ 202,019 $ (380 ) $ 143,370 $ (525 ) $ 345,389 $ (905 ) The unrealized losses on investments as of March 31, 2019 were primarily caused by increases in interest rates. None of the unrealized losses represent other-than-temporary impairments based on our evaluation of available evidence as of March 31, 2019 . |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
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. We value our investments using quoted prices for identical instruments in active markets when available. If we are unable to obtain quoted prices for identical instruments in active markets, we value our investments using quoted market prices for comparable instruments. To date, all of our investments can be valued using one of these two methodologies. The following tables present the fair value of our financial assets using the fair value hierarchy: March 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents Money market funds $ 396,563 $ — $ — $ 396,563 Commercial paper — 31,970 — 31,970 U.S. agency securities — 7,995 — 7,995 Short-term investments Commercial paper — 32,754 — 32,754 U.S. treasury securities — 359,565 — 359,565 U.S. agency securities — 16,285 — 16,285 Corporate bonds — 145,438 — 145,438 Long-term investments Corporate bonds — 4,668 — 4,668 Total $ 396,563 $ 598,675 $ — $ 995,238 December 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents Money market funds $ 610,732 $ — $ — $ 610,732 Corporate bonds — 3,009 — 3,009 Short-term investments Commercial paper — 7,949 — 7,949 U.S. treasury securities — 206,053 — 206,053 U.S. agency securities — 18,515 — 18,515 Corporate bonds — 136,838 — 136,838 Long-term investments U.S. treasury securities — 13,307 — 13,307 Corporate bonds — 12,971 — 12,971 Total $ 610,732 $ 398,642 $ — $ 1,009,374 We did not have any investments in prime money market funds as of March 31, 2019 or December 31, 2018 . We did not have any material financial assets or liabilities measured using Level 3 inputs as of March 31, 2019 or December 31, 2018 . |
Leases
Leases | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Leases | Leases Our leasing arrangements are primarily for office space we use to conduct our operations. We have subleased some office space for all or part of the associated head lease. The following table presents our future lease payments for long-term operating leases, net of expected sublease income, as of March 31, 2019 : Period Operating Lease Commitments Expected Sublease Receipts Net Future Operating Lease Commitments (in thousands) Remainder of 2019 $ 20,898 $ (7,337 ) $ 13,561 2020 43,277 (7,897 ) 35,380 2021 47,353 (1,207 ) 46,146 2022 46,706 (625 ) 46,081 2023 47,577 (128 ) 47,449 Thereafter 144,237 — 144,237 Total $ 350,048 $ (17,194 ) $ 332,854 Less: Imputed interest (80,670 ) Total operating lease liabilities $ 269,378 Cash paid for operating lease liabilities for the three months ended March 31, 2019 was $11.0 million . We recorded $13.5 million in non-cash increases to our operating lease right-of-use assets and operating lease liabilities as a result of leases that commenced or were modified during the three months ended March 31, 2019 . As of March 31, 2019 , we had signed leases for additional office space that had not yet commenced. Future noncancellable lease payments associated with these agreements total $18.0 million , payable over lease terms ranging from four to seven years. The following table presents supplemental balance sheet information related to leases as of March 31, 2019 : March 31, 2019 (dollars in thousands) Other accrued liabilities $ 17,474 Operating lease liabilities 251,904 Total operating lease liabilities $ 269,378 Weighted average remaining lease term (in years) 7.9 Weighted average discount rate 6.2 % The components of our lease expense for the three months ended March 31, 2019 were as follows: Three Months Ended March 31, 2019 (in thousands) Operating lease costs $ 11,539 Variable lease costs 3,003 Short-term lease costs 1,807 Sublease income (2,401 ) Total lease cost, net $ 13,948 Under ASC 840, the previous lease standard, total rent expense under operating leases, net of sublease income, was approximately $8.6 million for the three months ended March 31, 2018 . |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2019 | |
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, at $0.0001 par value per share, and 750,000,000 shares of Class A common stock, at $0.0001 par value per share. 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 holder 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. 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. Preferred Stock Our certificate of incorporation, as amended and restated, authorizes us to issue 10,000,000 shares of preferred stock at $0.0001 par value per share. Our board of directors has the authority to provide for the issuance of all the shares in one or more series. At its discretion, our board of directors may designate the voting rights and preferences of the preferred stock. As of March 31, 2019 and December 31, 2018 , no shares of preferred stock were outstanding. Donation to Tableau Foundation On January 3, 2019, we donated 209,384 shares of our Class A common stock to Tableau Foundation, a donor-advised charitable fund. We recorded a charge of $24.2 million to general and administrative expense based on the closing price of our Class A common stock as reported on the New York Stock Exchange on the date of donation. Stock Repurchase Program On November 1, 2016, we announced that our board of directors approved a stock repurchase program, under which we were authorized to repurchase up to $200 million of our outstanding Class A common stock. On April 26, 2018, our board of directors authorized us to repurchase up to an additional $300 million of our outstanding Class A common stock under our previously announced stock repurchase program. The repurchase program has no expiration date and may be modified, suspended or discontinued at any time. Repurchases under the program may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in transactions structured through investment banking institutions or a combination of the foregoing, in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. During the three months ended March 31, 2019 , we repurchased 34,986 shares of our outstanding Class A common stock at an average price of $123.64 per share for $4.3 million . During the three months ended March 31, 2018 , we repurchased 366,160 shares of our outstanding Class A common stock at an average price of $81.95 per share for $30.0 million . All repurchases were made in open market transactions using cash on hand, and all of the shares repurchased were retired. As of March 31, 2019 , we were authorized to repurchase a remaining $275.7 million of our Class A common stock under our repurchase program. |
Revenue
Revenue | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers. We record assets for amounts related to performance obligations that are satisfied but not yet billed and/or collected. These assets are recorded as contract assets rather than receivables when receipt of the consideration is conditional on something other than the passage of time. Liabilities are recorded for amounts that are collected in advance of the satisfaction of performance obligations. These liabilities are classified as current and non-current deferred revenue. Contract Assets and Contract Liabilities The following table presents the activity impacting our contract assets during the three months ended March 31, 2019 : Contract Assets (in thousands) Balance at December 31, 2018 $ 105,593 Contract assets transferred to receivables (15,744 ) Additions to contract assets 31,750 Balance at March 31, 2019 $ 121,599 Contract assets are included in prepaid expenses and other current assets. There were no material impairments of contract assets during the three months ended March 31, 2019 . The following table presents the activity impacting our deferred revenue balances during the three months ended March 31, 2019 : Deferred Revenue (in thousands) Balance at December 31, 2018 $ 394,198 Deferred revenue recognized (145,527 ) Additional amounts deferred 133,514 Balance at March 31, 2019 $ 382,185 Assets Recognized from the Costs to Obtain our Contracts with Customers We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We amortize these deferred costs proportionate with related revenues over the benefit period, currently estimated to be four years. The following table presents the activity impacting our deferred contract costs during the three months ended March 31, 2019 : Deferred Contract Costs (in thousands) Balance at December 31, 2018 $ 51,401 Additional contract costs deferred 8,956 Amortization of deferred contract costs (4,449 ) Balance at March 31, 2019 $ 55,908 As of March 31, 2019 , $18.8 million of our deferred contract costs are expected to be amortized within the next 12 months and therefore are included in prepaid expenses and other current assets. The remaining amount of our deferred contract costs are included in other long-term assets. There were no material impairments of assets related to deferred contract costs during the three months ended March 31, 2019 . There were no assets recognized related to our costs to fulfill contracts during the three months ended March 31, 2019 as these costs were not material. Remaining Performance Obligations Our contracts with customers include amounts allocated to performance obligations that will be satisfied at a later date. As of March 31, 2019 , amounts allocated to these additional contractual obligations are $254.0 million , of which we expect to recognize $212.5 million as revenue over the next 24 months with the remaining amount thereafter. These amounts include additional performance obligations that are not yet recorded in our consolidated balance sheet. |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Our 2004 Equity Incentive Plan (the "2004 Plan") authorized the granting of options to purchase shares of our Class B common stock, Restricted Stock Units ("RSUs") and other stock-based awards to our employees, consultants, officers and directors. Our 2013 Equity Incentive Plan, as amended, (the "2013 Plan" and, together with the 2004 Plan, the "Plans"), which is the successor to our 2004 Plan, authorizes the granting of options to purchase shares of our Class A common stock, RSUs and other stock-based awards to our employees, consultants, officers and directors. Options granted under the Plans may be incentive or nonstatutory stock options. Incentive stock options may only be granted to employees. The term of each option is stated in the award agreement but shall be no more than ten years from the date of grant. The board of directors determines the period over which options and RSUs become vested. Currently, the vesting period for our options and RSUs is typically four years. Our 2013 Employee Stock Purchase Plan ("2013 ESPP") allows eligible employees to purchase shares of our Class A common stock, at a discount, through payroll deductions of up to 15% of their eligible compensation, subject to plan limitations. The 2013 ESPP currently includes purchase periods approximately six months in duration starting on the first trading date on or after June 1 st and December 1 st of each year. Participants are able to purchase shares of our common stock at 85% of the lower of its fair market value on (i) the first day of the purchase period or on (ii) the purchase date, which is the last day of the purchase period. A summary of the option activity during the three months ended March 31, 2019 follows: 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, 2018 1,919,383 $ 10.44 Options exercised (858,856 ) 7.32 Balances at March 31, 2019 1,060,527 $ 12.97 3.39 $ 121,227 Vested and expected to vest at March 31, 2019 1,060,527 $ 12.97 3.39 $ 121,227 Exercisable at March 31, 2019 1,032,402 $ 11.83 3.28 $ 119,191 The intrinsic value is the difference between the fair value of our Class A common stock as of March 31, 2019 and the exercise price of each of the respective stock options. A summary of the RSU activity, including RSU awards subject to technology milestones, during the three months ended March 31, 2019 follows: Number of Shares Underlying Outstanding RSUs Weighted Average Grant-Date Fair Value per RSU Non-Vested outstanding at December 31, 2018 7,194,454 $ 77.66 RSUs granted 1,618,660 129.34 RSUs vested (787,199 ) 71.21 RSUs forfeited (203,880 ) 75.10 Non-Vested outstanding at March 31, 2019 7,822,035 $ 89.07 Additionally during the three months ended March 31, 2019 , we granted RSU awards subject to performance conditions other than technology milestones, under which certain executives and key employees may earn up to 70,879 RSUs. Vesting of these awards is dependent upon achievement of specified revenue goals. An RSU award entitles the holder to receive shares of our Class A common stock as the award vests, which is generally based on length of service. Our non-vested RSUs do not have nonforfeitable rights to dividends or dividend equivalents. Stock-based compensation expense is recognized using the straight-line method over the requisite service period. We account for forfeitures as they occur. For RSU awards subject to technology milestones or other performance conditions, we recognize compensation cost over the estimated requisite service period if we believe it is probable that the associated technology milestones or other performance conditions will be met. If our assessment of the probability of the technology milestones or other performance conditions being met changes, we recognize the impact of the change in estimate in the period of the change. As of March 31, 2019 , total unrecognized compensation expense related to stock options and non-vested RSUs, including RSU awards subject to technology milestones or other performance conditions, was $642.3 million , which is expected to be recognized over a weighted average period of 3.1 years . The summary of shares available for issuance of equity-based awards (including stock options, RSUs, including RSU awards subject to technology milestones or other performance conditions, and shares issuable under our 2013 ESPP) during the three months ended March 31, 2019 follows: Shares Available for Grant 2013 Plan 2013 ESPP Balances at December 31, 2018 7,687,965 3,979,544 Authorized 4,217,847 843,569 Granted (1,689,539 ) — Forfeited 203,880 — Balances at March 31, 2019 10,420,153 4,823,113 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The income tax provision for interim periods is generally determined using an estimate of our annual effective tax rate, excluding jurisdictions for which no benefit can be recognized due to valuation allowance, and adjusted for discrete items, if any, in the relevant period. However, given current and expected operating activities during the year, estimating a reliable annual effective tax rate has become increasingly difficult. Even small changes in forecasted results can produce significant changes to our annual effective tax rate. Therefore, we have determined that the actual year to date effective tax rate is the best estimate for the reporting period ended March 31, 2019 . We will continue to utilize this methodology until reliable estimates of the annual effective tax rate can be made. Our effective tax rate is impacted by, and differs from the federal statutory rate primarily due to, the full valuation allowance on our U.S. federal and state deferred tax assets, the effect of income or losses incurred in foreign jurisdictions where the statutory tax rate differs from the federal statutory rate and non-deductible stock-based compensation. We recognized income tax expense of $0.9 million for the three months ended March 31, 2019 , compared to an income tax benefit of $2.4 million for the three months ended March 31, 2018 . Our effective tax rate was (1.0)% for the three months ended March 31, 2019 , compared to 5.0% for the three months ended March 31, 2018 . The difference in the effective tax rates for the three month periods is primarily attributable to increased losses incurred in foreign jurisdictions where related tax benefits are not available. We periodically evaluate the realizability of our net deferred tax assets based on all available evidence, both positive and negative such as historic results, future reversals of existing deferred tax liabilities, projected future taxable income, as well as prudent and feasible tax-planning strategies. Generally, more weight is given to objectively verifiable evidence, such as the cumulative loss in recent years. As of March 31, 2019 , we maintain a full valuation allowance on our U.S. federal and state deferred tax assets. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Contractual Commitments Our non-lease contractual commitments are associated with agreements that are enforceable and legally binding and that specify all significant terms, including fixed or minimum services to be used, fixed, minimum or variable price provisions and the approximate timing of the transaction. Obligations under contracts that we can cancel without a significant penalty are not included. There have been no material changes to our non-lease contractual commitments compared to those discussed in Note 11 of our Annual Report on Form 10-K for the year ended December 31, 2018 . Legal Proceedings Securities Litigation. On July 28, 2017, and August 2, 2017, respectively, two substantially similar securities class action complaints were filed against the Company and two of its current and former executive officers. The first complaint was filed in the U.S. District for the Southern District of New York (the "Scheufele Action"). The second complaint was filed in the U.S. District Court for the Western District of Washington (the "Abarrientos Action"). On October 17, 2017, the Abarrientos Action was voluntarily dismissed. On October 18, 2017, the Court appointed a lead plaintiff and lead counsel in the Scheufele Action. On December 8, 2017, lead plaintiff filed an amended complaint, which alleged that between February 5, 2015 and February 4, 2016, the Company and certain of its executive officers violated Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5 promulgated thereunder, in connection with statements regarding the Company's business and operations by allegedly failing to disclose that product launches and software upgrades by competitors were negatively impacting the Company's competitive position and profitability. The amended complaint sought unspecified damages, interest, attorneys' fees and other costs. Defendants filed a motion to dismiss the amended complaint on January 12, 2018. On February 2, 2018, lead plaintiff filed a second amended complaint (the "SAC"), which contains substantially similar allegations as the amended complaint, and adds as defendants two of the Company's current and former executive officers and directors. Defendants filed a motion to dismiss the SAC on March 13, 2018. On February 8, 2019, the court denied Defendants' motion to dismiss the SAC. Defendants filed an answer to the SAC on March 1, 2019, and subsequently amended their answer on April 18, 2019. There is currently no scheduling order set in this matter. Derivative Litigation. On August 7, 2018, a shareholder derivative action was filed in the United States District Court for the District of Delaware, allegedly on behalf of and for the benefit of the Company, against certain of our current and former directors and officers. The Company was named as a nominal defendant. The derivative action arises out of many of the factual allegations at issue in the above-referenced securities litigation, and generally alleges that the individual defendants breached fiduciary duties owed to the Company. The complaint seeks unspecified damages and equitable relief, attorneys' fees, costs and expenses. The case is currently stayed. We believe the lawsuits are without merit and intend to vigorously defend. We are not in a position to assess whether any loss or adverse effect on our financial condition is probable or remote or to estimate the range of potential loss, if any. In the ordinary course of business, we are also involved in various legal proceedings and claims related to intellectual property rights, commercial disputes, employment and wage and hour laws, alleged securities laws violations or other investor claims and other matters. We evaluate these claims and lawsuits with respect to their potential merits, our potential defenses and counter claims, and the expected effect on us of defending the claims and potential adverse result. We make a provision for a liability relating to a claim when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. When we make such provisions, they are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter. We recognize legal expenses as incurred. Management does not expect these proceedings or lawsuits to have a material impact on the liquidity, results of operations, or financial condition of the Company; however, litigation is inherently uncertain and the actual losses incurred in the event that our legal proceedings were to result in unfavorable outcomes could have a material adverse effect on our business and financial performance. |
Segments and Information about
Segments and Information about Revenues by Geographic Region | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 2018 (in thousands) United States and Canada $ 196,902 $ 167,799 International 85,558 78,408 Total revenues $ 282,460 $ 246,207 For the three months ended March 31, 2019 and 2018 , no individual country other than the United States represented 10% or more of our total revenues. |
Net Loss Per Share
Net Loss Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss per Share The following table presents the computation of basic and diluted net loss per share for the three months ended March 31, 2019 and 2018 : Three Months Ended March 31, 2019 2018 (in thousands, except per share amounts) Net loss per share - basic and diluted Net loss $ (88,882 ) $ (46,472 ) Weighted average shares outstanding used to compute basic and diluted net loss per share 85,434 81,039 Net loss per share - basic and diluted $ (1.04 ) $ (0.57 ) The following table presents shares which were excluded from the computation of diluted net loss per share for the periods presented as their effect would have been antidilutive: Three Months Ended March 31, 2019 2018 (in thousands) Shares subject to outstanding common stock awards 9,032 11,193 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2018 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 year ended December 31, 2018 filed with the SEC on February 22, 2019 . In the opinion of management, the unaudited condensed consolidated financial statements and accompanying notes include all normal recurring adjustments necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . All intercompany accounts and transactions have been eliminated in consolidation. |
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, the 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 but are not limited to: the collectability of our receivables; the evaluation of our contract assets for impairment; the useful lives of our long-lived assets; the benefit period for deferred commissions; the valuation of investments and the determination of other-than-temporary impairments; the discount rates used in measuring our operating lease liabilities; and the reported amounts of accrued liabilities. For revenue, we make estimates and assumptions related to the standalone selling prices of our products and services and the nature and timing of the delivery of performance obligations from our contracts with customers. We also use estimates in stock-based compensation, income taxes and business combinations. Actual results could differ from those estimates. |
Risk And Uncertainties | Risks and Uncertainties Inherent in our business are various risks and uncertainties, including our limited history of operating our business at its current scale and development of advanced technologies in a rapidly changing industry. These risks include our ability to manage our growth, to attract new customers, to expand sales to existing customers and to attract, integrate and retain qualified personnel, 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 sale of our technology. |
Segments | Segments We follow the authoritative literature that establishes annual and interim reporting standards for operating segments and related disclosures about 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 Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments, accounts receivable and contract assets. Our cash and cash equivalents and investments are held and managed by recognized financial institutions that follow our investment policy. Our investment portfolio consists of investment-grade securities diversified among security types, industries and issuers. Our policy limits the amount of credit exposure to any one security issue or issuer. We extend credit to customers based upon an evaluation of the customer's financial condition. As of March 31, 2019 and December 31, 2018 , no individual customer accounted for 10% or more of total accounts receivable or 10% or more of our total contract assets. For the three months ended 2019 and 2018 , no individual customer accounted for 10% or more of our total revenues. |
Leases | Leases - Accounting Standards Codification 842 Leases arise from contracts which convey the right to control the use of identified property or equipment for a period of time in exchange for consideration. Our leasing arrangements are primarily for office space we use to conduct our operations. We determine whether contracts include a lease at the inception date, which is generally upon contract signing, considering factors such as whether the contract includes an asset which is physically distinct, which party obtains substantially all of the capacity and economic benefit of the asset, and which party directs how, and for what purpose, the asset is used during the contractual period of use. Our leases commence when the lessor makes the asset available for our use. At commencement we record a lease liability at the present value of future lease payments, net of any future lease incentives to be received. Many of our lease agreements include cancellable future periods subject to termination or extension options. We do not include cancellable lease periods in our future lease payments unless we are reasonably certain to continue to utilize the asset for those periods. We calculate the present value of future lease payments at commencement using a discount rate which we estimate as the collateralized borrowing rate we would incur on our future lease payments over a similar term. At commencement we also record a corresponding right-of-use asset, which is calculated based on the amount of the lease liability, adjusted for any advance lease payments paid, initial direct costs incurred or lease incentives received prior to commencement. Right-of-use assets are subject to evaluation for impairment or disposal on a basis consistent with other long-lived assets. Leases are classified at commencement as either operating or finance leases. As of March 31, 2019, all of our leases are classified as operating leases. Rent expense for operating leases is recognized on the straight-line method over the term of the agreement beginning on the lease commencement date. In accounting for leases, we utilize certain practical expedients and policy elections available under the lease accounting standard. For example, we do not record right-of-use assets or lease liabilities for leases with terms of 12 months or less. For contracts containing real estate leases, we combine lease and non-lease components. The primary impact of this policy election is that we include in our calculation of lease liabilities any fixed and noncancelable future payments due under the contract for items such as parking, common area maintenance, utilities and other costs. Lease-related costs which are variable rather than fixed are expensed in the period incurred. Assumptions, judgments and estimates impacting the carrying value of our right-of-use assets and liabilities include evaluating whether an arrangement contains a lease, determining whether the lease term should include any cancellable future periods, estimating the discount rate used to calculate our lease liabilities, estimating the fair value and useful life of the leased asset for the purpose of classifying the lease as an operating or finance lease, evaluating whether a lease contract amendment represents a new lease agreement or a modification to the existing lease and evaluating our right-of-use assets for impairment. We also account for all subleases from the perspective of a lessor. We evaluate the duration of subleases based on the reasonable certainty of any sublessor termination and extension options, as well as the lease term for the underlying asset. As of March 31, 2019, all of our subleases are classified as operating leases. For subleases classified as operating leases, we record sublease income as a reduction of operating expense on the straight-line method over the lease term. Our accounting policy under the previous lease standard, Accounting Standards Codification ("ASC") 840, is included in our Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 22, 2019. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements We adopted the new lease accounting standard, ASC 842, on January 1, 2019 using the modified retrospective transition method, and recorded a balance sheet adjustment on the date of adoption. The new lease standard requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet for operating leases, and also requires additional quantitative and qualitative disclosures to enable users of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. In adopting ASC 842, we utilized certain practical expedients available under the standard. These practical expedients include waiving reassessment of conclusions reached under the previous lease standard as to whether contracts contain leases, not recording right-of-use assets or lease liabilities for leases with terms of 12 months or less, how to classify leases identified and how to account for initial direct costs incurred. We also utilized the practical expedient to use hindsight as of the date of adoption to determine the terms of our leases and to evaluate our right-of-use assets for impairment. We recorded the following adjustments to our consolidated balance sheet on the date of adoption: December 31, 2018 January 1, 2019 As Reported Adjustment Recorded Adjusted Balance (in thousands) Prepaid expenses and other current assets $ 155,012 $ (378 ) $ 154,634 Operating lease right-of-use assets — 210,914 210,914 Other long-term assets 50,927 (28 ) 50,899 Other accrued liabilities 55,896 14,500 70,396 Operating lease liabilities — 242,916 242,916 Other long-term liabilities 56,257 (46,908 ) 9,349 See Note 5 of the accompanying notes to the condensed consolidated financial statements for additional information regarding our operating leases. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued Accounting Standards Update ("ASU") 2016-13, related to credit losses. The new guidance replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. ASU 2016-13 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019. We will adopt this standard in the first quarter of 2020. We are currently evaluating the impact that this standard will have on our consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies Effect Of New Accounting Principle In Period Of Adoption (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Adjustments Related To Adoption of New Lease Standard [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | We recorded the following adjustments to our consolidated balance sheet on the date of adoption: December 31, 2018 January 1, 2019 As Reported Adjustment Recorded Adjusted Balance (in thousands) Prepaid expenses and other current assets $ 155,012 $ (378 ) $ 154,634 Operating lease right-of-use assets — 210,914 210,914 Other long-term assets 50,927 (28 ) 50,899 Other accrued liabilities 55,896 14,500 70,396 Operating lease liabilities — 242,916 242,916 Other long-term liabilities 56,257 (46,908 ) 9,349 |
Short-Term and Long-Term Inve_2
Short-Term and Long-Term Investments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Short-term and Long-term Investments | The following tables present our short-term and long-term investments in available-for-sale securities based on remaining contractual years to maturity: March 31, 2019 Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Short-term investments Commercial paper $ 32,754 $ — $ — $ 32,754 U.S. treasury securities 359,659 139 (233 ) 359,565 U.S. agency securities 16,300 1 (16 ) 16,285 Corporate bonds 145,504 21 (87 ) 145,438 Total short-term investments 554,217 161 (336 ) 554,042 Long-term investments Corporate bonds 4,663 6 (1 ) 4,668 Total long-term investments 4,663 6 (1 ) 4,668 Total short-term and long-term investments $ 558,880 $ 167 $ (337 ) $ 558,710 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Fair Value (in thousands) Short-term investments Commercial paper $ 7,949 $ — $ — $ 7,949 U.S. treasury securities 206,486 24 (457 ) 206,053 U.S. agency securities 18,576 — (61 ) 18,515 Corporate bonds 137,119 — (281 ) 136,838 Total short-term investments 370,130 24 (799 ) 369,355 Long-term investments U.S. treasury securities 13,352 5 (50 ) 13,307 Corporate bonds 13,025 2 (56 ) 12,971 Total long-term investments 26,377 7 (106 ) 26,278 Total short-term and long-term investments $ 396,507 $ 31 $ (905 ) $ 395,633 |
Investments, Continuous Unrealized Loss Position, Fair Value | The following tables present the fair values and the gross unrealized losses related to our investments in available-for-sale securities that were in an unrealized loss position as of March 31, 2019 and December 31, 2018 , summarized by the length of time that the investments have been in a continuous unrealized loss position: March 31, 2019 Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Short-term investments U.S. treasury securities $ 80,890 $ (11 ) $ 99,972 $ (222 ) $ 180,862 $ (233 ) U.S. agency securities 2,059 — 8,560 (16 ) 10,619 (16 ) Corporate bonds 78,539 (16 ) 36,982 (71 ) 115,521 (87 ) Total short-term investments 161,488 (27 ) 145,514 (309 ) 307,002 (336 ) Long-term investments Corporate bonds 2,988 (1 ) — — 2,988 (1 ) Total long-term investments 2,988 (1 ) — — 2,988 (1 ) Total short-term and long-term investments $ 164,476 $ (28 ) $ 145,514 $ (309 ) $ 309,990 $ (337 ) December 31, 2018 Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in thousands) Short-term investments U.S. treasury securities $ 89,320 $ (143 ) $ 79,472 $ (314 ) $ 168,792 $ (457 ) U.S. agency securities — — 18,515 (61 ) 18,515 (61 ) Corporate bonds 91,455 (131 ) 45,383 (150 ) 136,838 (281 ) Total short-term investments 180,775 (274 ) 143,370 (525 ) 324,145 (799 ) Long-term investments U.S. treasury securities 9,855 (50 ) — — 9,855 (50 ) Corporate bonds 11,389 (56 ) — — 11,389 (56 ) Total long-term investments 21,244 — (106 ) — — 21,244 (106 ) Total short-term and long-term investments $ 202,019 $ (380 ) $ 143,370 $ (525 ) $ 345,389 $ (905 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | The following tables present the fair value of our financial assets using the fair value hierarchy: March 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents Money market funds $ 396,563 $ — $ — $ 396,563 Commercial paper — 31,970 — 31,970 U.S. agency securities — 7,995 — 7,995 Short-term investments Commercial paper — 32,754 — 32,754 U.S. treasury securities — 359,565 — 359,565 U.S. agency securities — 16,285 — 16,285 Corporate bonds — 145,438 — 145,438 Long-term investments Corporate bonds — 4,668 — 4,668 Total $ 396,563 $ 598,675 $ — $ 995,238 December 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents Money market funds $ 610,732 $ — $ — $ 610,732 Corporate bonds — 3,009 — 3,009 Short-term investments Commercial paper — 7,949 — 7,949 U.S. treasury securities — 206,053 — 206,053 U.S. agency securities — 18,515 — 18,515 Corporate bonds — 136,838 — 136,838 Long-term investments U.S. treasury securities — 13,307 — 13,307 Corporate bonds — 12,971 — 12,971 Total $ 610,732 $ 398,642 $ — $ 1,009,374 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lessor, Operating Lease, Payments to be Received, Maturity | The following table presents our future lease payments for long-term operating leases, net of expected sublease income, as of March 31, 2019 : Period Operating Lease Commitments Expected Sublease Receipts Net Future Operating Lease Commitments (in thousands) Remainder of 2019 $ 20,898 $ (7,337 ) $ 13,561 2020 43,277 (7,897 ) 35,380 2021 47,353 (1,207 ) 46,146 2022 46,706 (625 ) 46,081 2023 47,577 (128 ) 47,449 Thereafter 144,237 — 144,237 Total $ 350,048 $ (17,194 ) $ 332,854 Less: Imputed interest (80,670 ) Total operating lease liabilities $ 269,378 |
Future Lease Payments for Long-Term Operating Leases | The following table presents our future lease payments for long-term operating leases, net of expected sublease income, as of March 31, 2019 : Period Operating Lease Commitments Expected Sublease Receipts Net Future Operating Lease Commitments (in thousands) Remainder of 2019 $ 20,898 $ (7,337 ) $ 13,561 2020 43,277 (7,897 ) 35,380 2021 47,353 (1,207 ) 46,146 2022 46,706 (625 ) 46,081 2023 47,577 (128 ) 47,449 Thereafter 144,237 — 144,237 Total $ 350,048 $ (17,194 ) $ 332,854 Less: Imputed interest (80,670 ) Total operating lease liabilities $ 269,378 |
Supplemental Balance Sheet Information - Operating Leases | The following table presents supplemental balance sheet information related to leases as of March 31, 2019 : March 31, 2019 (dollars in thousands) Other accrued liabilities $ 17,474 Operating lease liabilities 251,904 Total operating lease liabilities $ 269,378 Weighted average remaining lease term (in years) 7.9 Weighted average discount rate 6.2 % |
Components of Lease Expense | The components of our lease expense for the three months ended March 31, 2019 were as follows: Three Months Ended March 31, 2019 (in thousands) Operating lease costs $ 11,539 Variable lease costs 3,003 Short-term lease costs 1,807 Sublease income (2,401 ) Total lease cost, net $ 13,948 |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Deferred Contract Costs | The following table presents the activity impacting our deferred contract costs during the three months ended March 31, 2019 : Deferred Contract Costs (in thousands) Balance at December 31, 2018 $ 51,401 Additional contract costs deferred 8,956 Amortization of deferred contract costs (4,449 ) Balance at March 31, 2019 $ 55,908 |
Contract with Customer, Asset and Liability | The following table presents the activity impacting our contract assets during the three months ended March 31, 2019 : Contract Assets (in thousands) Balance at December 31, 2018 $ 105,593 Contract assets transferred to receivables (15,744 ) Additions to contract assets 31,750 Balance at March 31, 2019 $ 121,599 Contract assets are included in prepaid expenses and other current assets. There were no material impairments of contract assets during the three months ended March 31, 2019 . The following table presents the activity impacting our deferred revenue balances during the three months ended March 31, 2019 : Deferred Revenue (in thousands) Balance at December 31, 2018 $ 394,198 Deferred revenue recognized (145,527 ) Additional amounts deferred 133,514 Balance at March 31, 2019 $ 382,185 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Option Activity | A summary of the option activity during the three months ended March 31, 2019 follows: 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, 2018 1,919,383 $ 10.44 Options exercised (858,856 ) 7.32 Balances at March 31, 2019 1,060,527 $ 12.97 3.39 $ 121,227 Vested and expected to vest at March 31, 2019 1,060,527 $ 12.97 3.39 $ 121,227 Exercisable at March 31, 2019 1,032,402 $ 11.83 3.28 $ 119,191 |
Summary of RSU Activity | A summary of the RSU activity, including RSU awards subject to technology milestones, during the three months ended March 31, 2019 follows: Number of Shares Underlying Outstanding RSUs Weighted Average Grant-Date Fair Value per RSU Non-Vested outstanding at December 31, 2018 7,194,454 $ 77.66 RSUs granted 1,618,660 129.34 RSUs vested (787,199 ) 71.21 RSUs forfeited (203,880 ) 75.10 Non-Vested outstanding at March 31, 2019 7,822,035 $ 89.07 |
Summary of Shares Available for Grant | The summary of shares available for issuance of equity-based awards (including stock options, RSUs, including RSU awards subject to technology milestones or other performance conditions, and shares issuable under our 2013 ESPP) during the three months ended March 31, 2019 follows: Shares Available for Grant 2013 Plan 2013 ESPP Balances at December 31, 2018 7,687,965 3,979,544 Authorized 4,217,847 843,569 Granted (1,689,539 ) — Forfeited 203,880 — Balances at March 31, 2019 10,420,153 4,823,113 |
Segments and Information abou_2
Segments and Information about Revenues by Geographic Region (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Reconciliation of Revenue 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, 2019 2018 (in thousands) United States and Canada $ 196,902 $ 167,799 International 85,558 78,408 Total revenues $ 282,460 $ 246,207 |
Net Income (Loss) Per Share (Ta
Net Income (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Net Loss Per Share, Basic and Diluted | The following table presents the computation of basic and diluted net loss per share for the three months ended March 31, 2019 and 2018 : Three Months Ended March 31, 2019 2018 (in thousands, except per share amounts) Net loss per share - basic and diluted Net loss $ (88,882 ) $ (46,472 ) Weighted average shares outstanding used to compute basic and diluted net loss per share 85,434 81,039 Net loss per share - basic and diluted $ (1.04 ) $ (0.57 ) |
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share | The following table presents shares which were excluded from the computation of diluted net loss per share for the periods presented as their effect would have been antidilutive: Three Months Ended March 31, 2019 2018 (in thousands) Shares subject to outstanding common stock awards 9,032 11,193 |
Description of Business Narrati
Description of Business Narrative (Details) | Mar. 31, 2019product |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of key products | 5 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019USD ($)segment | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accounting Policies [Abstract] | |||
Number of Operating Segments | segment | 1 | ||
New Accounting Pronouncements or Change in Accounting Principle | |||
Prepaid expenses and other current assets | $ 172,498 | $ 154,634 | $ 155,012 |
Operating lease right-of-use assets | 217,796 | 210,914 | 0 |
Other long-term assets | 56,446 | 50,899 | 50,927 |
Other accrued liabilities | 72,457 | 70,396 | 55,896 |
Operating lease liabilities | 251,904 | 242,916 | 0 |
Other long-term liabilities | $ 11,232 | 9,349 | $ 56,257 |
Prepaid expenses and other current assets | Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | (378) | ||
Operating lease right-of-use assets | Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | 210,914 | ||
Other long-term assets | Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | (28) | ||
Other accrued liabilities | Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | 14,500 | ||
Operating lease liabilities | Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | 242,916 | ||
Other long-term liabilities | Accounting Standards Update 2016-02 | |||
New Accounting Pronouncements or Change in Accounting Principle | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (46,908) |
Short-Term and Long-Term Inve_3
Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | $ 558,880 | $ 396,507 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 167 | 31 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (337) | (905) |
Fair Value | 558,710 | 395,633 |
Short-term investments | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 554,217 | 370,130 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 161 | 24 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (336) | (799) |
Fair Value, short-term | 554,042 | 369,355 |
Short-term investments | Commercial Paper, Not Included with Cash and Cash Equivalents | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 32,754 | 7,949 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Fair Value, short-term | 32,754 | 7,949 |
Short-term investments | U.S. treasury securities | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 359,659 | 206,486 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 139 | 24 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (233) | (457) |
Fair Value, short-term | 359,565 | 206,053 |
Short-term investments | U.S. agency securities | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 16,300 | 18,576 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (16) | (61) |
Fair Value, short-term | 16,285 | 18,515 |
Short-term investments | Corporate bonds | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 145,504 | 137,119 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 21 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (87) | (281) |
Fair Value, short-term | 145,438 | 136,838 |
Long-term investments | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 4,663 | 26,377 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 6 | 7 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | (106) |
Fair Value, long-term | 4,668 | 26,278 |
Long-term investments | U.S. treasury securities | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 13,352 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 5 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (50) | |
Fair Value, long-term | 13,307 | |
Long-term investments | Corporate bonds | ||
Schedule of Short-Term and Long-Term Investments | ||
Amortized Cost | 4,663 | 13,025 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 6 | 2 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | (56) |
Fair Value, long-term | $ 4,668 | $ 12,971 |
Short-Term and Long-Term Inve_4
Short-Term and Long-Term Investments Schedule of Investments in an Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 164,476 | $ 202,019 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (28) | (380) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 145,514 | 143,370 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (309) | (525) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 309,990 | 345,389 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (337) | (905) |
Short-term investments | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 161,488 | 180,775 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (27) | (274) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 145,514 | 143,370 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (309) | (525) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 307,002 | 324,145 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (336) | (799) |
Short-term investments | U.S. treasury securities | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 80,890 | 89,320 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (11) | (143) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 99,972 | 79,472 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (222) | (314) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 180,862 | 168,792 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (233) | (457) |
Short-term investments | U.S. agency securities | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,059 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 8,560 | 18,515 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (16) | (61) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 10,619 | 18,515 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (16) | (61) |
Short-term investments | Corporate bonds | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 78,539 | 91,455 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (16) | (131) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 36,982 | 45,383 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (71) | (150) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 115,521 | 136,838 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (87) | (281) |
Long-term investments | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,988 | 21,244 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | (106) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,988 | 21,244 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1) | (106) |
Long-term investments | U.S. treasury securities | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 9,855 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (50) | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 9,855 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (50) | |
Long-term investments | Corporate bonds | ||
Schedule of Short-Term and Long-Term Investments | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,988 | 11,389 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | (56) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,988 | 11,389 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (1) | $ (56) |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | $ 995,238 | $ 1,009,374 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 396,563 | 610,732 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 598,675 | 398,642 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 0 | 0 |
Cash equivalents | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 396,563 | 610,732 |
Cash equivalents | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 396,563 | 610,732 |
Commercial Paper, Not Included with Cash and Cash Equivalents | Short-term investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 32,754 | 7,949 |
Commercial Paper, Not Included with Cash and Cash Equivalents | Short-term investments | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 32,754 | 7,949 |
U.S. treasury securities | Short-term investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 359,565 | 206,053 |
U.S. treasury securities | Short-term investments | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 359,565 | 206,053 |
U.S. treasury securities | Long-term investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 13,307 | |
U.S. treasury securities | Long-term investments | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 13,307 | |
U.S. agency securities | Cash Equivalents | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 7,995 | |
U.S. agency securities | Cash Equivalents | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 7,995 | |
U.S. agency securities | Short-term investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 16,285 | 18,515 |
U.S. agency securities | Short-term investments | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 16,285 | 18,515 |
Corporate bonds | Cash Equivalents | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 31,970 | 3,009 |
Corporate bonds | Cash Equivalents | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 31,970 | 3,009 |
Corporate bonds | Short-term investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 145,438 | 136,838 |
Corporate bonds | Short-term investments | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 145,438 | 136,838 |
Corporate bonds | Long-term investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | 4,668 | 12,971 |
Corporate bonds | Long-term investments | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Investments Fair Value | $ 4,668 | $ 12,971 |
Leases Maturity of Leases (Deta
Leases Maturity of Leases (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Operating Lease Liabilities, Payments, Due, Rolling Maturity [Abstract] | |
Operating Lease Commitments, Remainder of 2019 | $ 20,898 |
Operating Lease Commitments, 2020 | 43,277 |
Operating Lease Commitments, 2021 | 47,353 |
Operating Lease Commitments, 2022 | 46,706 |
Operating Lease Commitments, 2023 | 47,577 |
Operating lease Commitments, Thereafter | 144,237 |
Operating Lease Commitments, Undiscounted Total | 350,048 |
Less: Imputed interest | (80,670) |
Total operating lease liabilities | 269,378 |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
Expected Sublease Receipts, Remainder of 2019 | (7,337) |
Expected Sublease Receipts, 2020 | (7,897) |
Expected Sublease Receipts, 2021 | (1,207) |
Expected Sublease Receipts, 2022 | (625) |
Expected Sublease Receipts, 2023 | (128) |
Expected Sublease Receipts, Thereafter | 0 |
Expected Sublease Receipts, Total | (17,194) |
Operating Lease Liabilities, Payments Due [Abstract] | |
Net Future Operating Lease Commitments, Remainder of 2019 | 13,561 |
Net Future Operating Lease Commitments, 2020 | 35,380 |
Net Future Operating Lease Commitments, 2021 | 46,146 |
Net Future Operating Lease Commitments, 2022 | 46,081 |
Net Future Operating Lease Commitments, 2023 | 47,449 |
Net Future Operating Lease Commitments, Thereafter | 144,237 |
Net Future Operating Lease Commitments, Total | $ 332,854 |
Leases Supplemental Cash Flow I
Leases Supplemental Cash Flow Information (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Cash paid for operating lease liabilities | $ 11 |
Non-cash increases to our operating lease right-of-use assets and operating lease liabilities as a result of leases that commenced or were modified | $ 13.5 |
Leases Entered Into But Not Yet
Leases Entered Into But Not Yet Commenced (Details) $ in Millions | Mar. 31, 2019USD ($) |
Operating Leases | |
Operating Leases Signed Not Yet Commenced, Value | $ 18 |
Minimum [Member] | |
Operating Leases | |
Operating Leases SIgned Not Yet Commenced, Term | 4 years |
Maximum | |
Operating Leases | |
Operating Leases SIgned Not Yet Commenced, Term | 7 years |
Leases Supplemental Balance She
Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Leases [Abstract] | |||
Other accrued liabilities | $ 17,474 | ||
Operating lease liabilities | 251,904 | $ 242,916 | $ 0 |
Total operating lease liabilities | $ 269,378 | ||
Weighted average remaining lease term (in years) | 7 years 10 months 24 days | ||
Weighted average discount rate | 6.20% |
Leases Components of Lease Expe
Leases Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Leases [Abstract] | ||
Operating lease costs | $ 11,539 | |
Variable lease costs | 3,003 | |
Short-term lease costs | 1,807 | |
Sublease Income | (2,401) | |
Total lease cost, net | $ 13,948 | |
Operating Leases, Rent Expense under ASC 840 | $ 8,600 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Apr. 26, 2018 | Nov. 01, 2016 | |
Class of Stock | |||||
Preferred Stock, Shares outstanding | 0 | 0 | |||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | |||
Preferred Stock, Par Value (in usd per share) | $ 0.0001 | $ 0.0001 | |||
Stock Issued During Period, Shares, Shares Donated | 209,384 | ||||
Stock Issued During Period, Value, Shares Donated | $ 24,200,000 | ||||
Stock Repurchase Program, Authorized Amount | $ 200,000,000 | ||||
Stock Repurchase Program, Increase to Authorized Amount | $ 300,000,000 | ||||
Stock Repurchased and Retired During Period, Shares | 34,986 | 366,160 | |||
Stock Repurchased, Average Cost Per Share | $ 123.64 | $ 81.95 | |||
Stock Repurchased and Retired During Period, Value | $ 4,326,000 | $ 30,007,000 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 275,700,000 | ||||
Class B common stock | |||||
Class of Stock | |||||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | |||
Common Stock, Par Value (in usd per share) | $ 0.0001 | $ 0.0001 | |||
Common Stock, Voting Rights | 10 | ||||
Class A common stock | |||||
Class of Stock | |||||
Common Stock, Shares Authorized | 750,000,000 | 750,000,000 | |||
Common Stock, Par Value (in usd per share) | $ 0.0001 | $ 0.0001 | |||
Common Stock, Voting Rights | 1 |
Revenue (Details)
Revenue (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Revenue from Contract with Customer [Abstract] | |
Threshold for Asset Recognition From Costs of Obtaining a Contract | 1 year |
Amortization period, deferred commissions | 4 years |
Deferred Contract Costs, Current | $ 18.8 |
Revenue (Contract Assets) (Deta
Revenue (Contract Assets) (Details) - Contract Assets $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Contract Asset Rollforward | |
Balance at December 31, 2018 | $ 105,593 |
Contract assets transferred to receivables | (15,744) |
Additions to contract assets | 31,750 |
Balance at March 31, 2019 | $ 121,599 |
Revenue (Deferred Revenue) (Det
Revenue (Deferred Revenue) (Details) - Deferred Revenue $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Deferred Revenue Rollforward | |
Balance at December 31, 2018 | $ 394,198 |
Deferred revenue recognized | (145,527) |
Additional amounts deferred | 133,514 |
Balance at March 31, 2019 | $ 382,185 |
Revenue (Deferred Contract Cost
Revenue (Deferred Contract Costs) (Details) - Deferred Commissions $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Deferred Contract Costs | |
Balance at December 31, 2018 | $ 51,401 |
Additional contract costs deferred | 8,956 |
Amortization of deferred contract costs | (4,449) |
Balance at March 31, 2019 | $ 55,908 |
Revenue (Performance Obligation
Revenue (Performance Obligations) (Details) $ in Millions | Mar. 31, 2019USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | |
Revenue, Remaining Performance Obligation, Amount | $ 254 |
Recognized Over Next 24 Months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | |
Revenue, Remaining Performance Obligation, Amount | $ 212.5 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details - Narrative) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Option expiration period (in years) | 10 years |
Vesting period (in years) | 4 years |
Share-based Compensation Arrangement by Share-based Payment Award | |
Unrecognized compensation expense | $ 642.3 |
Recognition period (in years) | 3 years 1 month 6 days |
2013 ESPP | |
Share-based Compensation Arrangement by Share-based Payment Award | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Maximum Payroll Deduction, Percent | 15.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Purchase Period | 6 months |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% |
Stock-Based Compensation (Det_2
Stock-Based Compensation (Details - Options) $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($)$ / sharesshares | |
Shares | |
Options Outstanding, Shares, Beginning of Period | shares | 1,919,383 |
Options Outstanding, Shares, Options Exercised | shares | (858,856) |
Options Outstanding, Shares, End of Period | shares | 1,060,527 |
Options Outstanding, Shares, Vested and Expected to Vest | shares | 1,060,527 |
Options Outstanding, Shares, Exercisable | shares | 1,032,402 |
Weighted Average Exercise Price per Share | |
Options Outstanding, Weighted Average Exercise Price, Beginning of Period, USD per Share | $ / shares | $ 10.44 |
Options Outstanding, Weighted Average Exercise Price, Options Exercised, USD per Share | $ / shares | 7.32 |
Options Outstanding, Weighted Average Exercise Price, End of Period, USD per Share | $ / shares | 12.97 |
Options Outstanding, Weighted Average Exercise Price Per Share, Vested and Expected to Vest, USD per Share | $ / shares | 12.97 |
Options Outstanding, Weighted Average Exercise Price Per Share, Exercisable, USD per Share | $ / shares | $ 11.83 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |
Options Outstanding, Weighted Average Remaining Contractual Term, End of Period (in years) | 3 years 4 months 20 days |
Options Outstanding, Weighted Average Remaining Contractual Term, Vested and Expected to Vest (in years) | 3 years 4 months 20 days |
Options Outstanding, Weighted Average Remaining Contractual Term, Exercisable (in years) | 3 years 3 months 10 days |
Options Outstanding, Aggregate Intrinsic Value, End of Period | $ | $ 121,227 |
Options Outstanding, Aggregate Intrinsic Value, Vested and Expected to Vest | $ | 121,227 |
Options Outstanding, Aggregate Intrinsic Value, Exercisable | $ | $ 119,191 |
Stock Based Compensation (Detai
Stock Based Compensation (Details - RSUs) | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
RSUs | |
Number of Shares Underlying Outstanding RSUs | |
RSU Shares Outstanding, Beginning of Period | 7,194,454 |
RSUs granted, Shares | 1,618,660 |
RSUs vested, Shares | (787,199) |
RSUs forfeited, Shares | (203,880) |
RSU Shares Outstanding, End of Period | 7,822,035 |
Weighted Average Grant-Date Fair Value per RSU | |
Weighted Average Fair Value, Beginning of Period, USD per Share | $ / shares | $ 77.66 |
Weighted Average Fair Value, RSUs Granted, USD per Share | $ / shares | 129.34 |
Weighted Average Fair Value, RSUs Vested, USD per Share | $ / shares | 71.21 |
Weighted Average Fair Value, RSUs Forfeited, USD per Share | $ / shares | 75.10 |
Weighted Average Fair Value, End of Period, USD per Share | $ / shares | $ 89.07 |
Maximum | Performance Shares Subject to Performance Conditions Other Than Technology Milestones | |
Number of Shares Underlying Outstanding RSUs | |
RSUs granted, Shares | 70,879 |
Stock-Based Compensation (Det_3
Stock-Based Compensation (Details - Shares Available) | 3 Months Ended |
Mar. 31, 2019shares | |
2013 Plan | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Awards, Outstanding [Roll Forward] | |
Equity Based Awards, Beginning of Period, Shares | 7,687,965 |
Authorized, Shares | 4,217,847 |
Granted, Shares | (1,689,539) |
Forfeited, Shares | 203,880 |
Equity Based Awards, End of Period, Shares | 10,420,153 |
2013 ESPP | Class A common stock | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Awards, Outstanding [Roll Forward] | |
Equity Based Awards, Beginning of Period, Shares | 3,979,544 |
Authorized, Shares | 843,569 |
Granted, Shares | 0 |
Forfeited, Shares | 0 |
Equity Based Awards, End of Period, Shares | 4,823,113 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
Income tax expense (benefit) | $ 888 | $ (2,445) |
Effective tax rate | (1.00%) | 5.00% |
Segments and Information abou_3
Segments and Information about Revenues by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting Information | ||
Total revenues | $ 282,460 | $ 246,207 |
United States and Canada | ||
Segment Reporting Information | ||
Total revenues | 196,902 | 167,799 |
International | ||
Segment Reporting Information | ||
Total revenues | $ 85,558 | $ 78,408 |
Net Income (Loss) Per Share (De
Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net loss per share - basic and diluted | ||
Net loss | $ (88,882) | $ (46,472) |
Weighted average shares outstanding used to compute basic and diluted net loss per share | 85,434 | 81,039 |
Net loss per share - basic and diluted (in usd per share) | $ (1.04) | $ (0.57) |
Antidilutive shares excluded from computation of diluted net loss | 9,032 | 11,193 |
Uncategorized Items - data-2019
Label | Element | Value |
Accounting Standards Update 2014-09 [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 166,089,000 |
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 164,406,000 |
Accounting Standards Update 2014-09 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 1,683,000 |