DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 05, 2016 | Jun. 30, 2015 | |
Entity Information [Line Items] | |||
Entity Registrant Name | DHI GROUP, INC. | ||
Entity Central Index Key | 1,393,883 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 51,959,055 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 396 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets | ||
Cash | $ 34,050 | $ 26,777 |
Accounts receivable, net of allowance for doubtful accounts of $2,887 and $2,888 | 46,380 | 49,048 |
Income taxes receivable | 916 | 3,973 |
Prepaid and other current assets | 3,072 | 4,764 |
Assets held for sale | 4,265 | 0 |
Total current assets | 88,683 | 84,562 |
Fixed assets, net | 15,255 | 16,066 |
Acquired intangible assets, net | 65,292 | 81,345 |
Goodwill | 198,598 | 239,256 |
Deferred financing costs, net of accumulated amortization of $1,163 and $761 | 1,564 | 1,320 |
Deferred income taxes | 322 | 481 |
Other assets | 785 | 926 |
Total assets | 370,499 | 423,956 |
Current liabilities | ||
Accounts payable and accrued expenses | 23,883 | 25,714 |
Deferred revenue | 83,316 | 86,444 |
Current portion of acquisition related contingencies | 0 | 3,883 |
Current portion of long-term debt | 0 | 2,500 |
Income taxes payable | 4,006 | 1,205 |
Liabilities held for sale | 2,334 | 0 |
Total current liabilities | 113,539 | 119,746 |
Long-term debt | 101,000 | 108,000 |
Deferred income taxes | 10,849 | 12,190 |
Accrual for unrecognized tax benefits | 3,436 | 3,392 |
Other long-term liabilities | 3,062 | 2,830 |
Total liabilities | $ 231,886 | $ 246,158 |
Commitments and contingencies (Note 9) | ||
Stockholders' equity | ||
Convertible preferred stock, $.01 par value, authorized 20,000 shares; no shares issued and outstanding | $ 0 | $ 0 |
Common stock, $.01 par value, authorized 240,000; issued 80,717 and 77,366 shares, respectively; outstanding: 52,622 and 54,142 shares, respectively | 807 | 774 |
Additional paid-in capital | 352,208 | 332,985 |
Accumulated other comprehensive loss | (20,468) | (13,906) |
Accumulated earnings | 49,476 | 60,444 |
Treasury stock, 28,095 and 23,224 shares, respectively | (243,410) | (202,499) |
Total stockholders’ equity | 138,613 | 177,798 |
Total liabilities and stockholders’ equity | $ 370,499 | $ 423,956 |
CONSOLIDATED BALANCE SHEETS (PA
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Current assets | ||
Allowance for doubtful accounts | $ 2,887 | $ 2,888 |
Accumulated amortization | $ 1,163 | $ 761 |
Stockholders' equity | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 240,000,000 | 240,000,000 |
Common stock, shares issued | 80,717,000 | 77,366,000 |
Common stock, shares outstanding | 52,622,000 | 54,142,000 |
Treasury stock, shares | 28,095,000 | 23,224,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues | $ 259,769 | $ 262,615 | $ 213,482 |
Operating expenses: | |||
Cost of revenues | 39,147 | 37,212 | 23,429 |
Product development | 29,863 | 26,087 | 22,437 |
Sales and marketing | 81,755 | 83,299 | 68,799 |
General and administrative | 44,639 | 42,059 | 36,129 |
Depreciation | 9,298 | 10,944 | 8,065 |
Amortization of intangible assets | 13,894 | 16,257 | 9,336 |
Impairment of goodwill | 34,818 | 0 | 7,728 |
Impairment of intangible and fixed assets | 0 | 0 | 8,156 |
Change in acquisition related contingencies | 0 | 153 | 197 |
Total operating expenses | 253,414 | 216,011 | 184,276 |
Operating income | 6,355 | 46,604 | 29,206 |
Interest expense | (3,289) | (3,744) | (1,906) |
Interest income | 0 | 0 | 30 |
Other expense | (25) | (11) | (35) |
Income before income taxes | 3,041 | 42,849 | 27,295 |
Income tax expense | 14,009 | 15,237 | 11,049 |
Net income (loss) | $ (10,968) | $ 27,612 | $ 16,246 |
Basic earnings per share (in dollars per share) | $ (0.21) | $ 0.53 | $ 0.29 |
Diluted earnings per share (in dollars per share) | $ (0.21) | $ 0.51 | $ 0.27 |
Weighted average basic shares outstanding | 51,402 | 52,328 | 56,473 |
Weighted average diluted shares outstanding | 51,402 | 54,410 | 59,476 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income (loss) | $ (10,968) | $ 27,612 | $ 16,246 |
Foreign currency translation adjustment | (6,559) | (7,792) | 3,186 |
Unrealized losses on investments, net of tax of $0, $0 and ($3) | (3) | 0 | (6) |
Total other comprehensive income (loss) | (6,562) | (7,792) | 3,180 |
Comprehensive income (loss) | $ (17,530) | $ 19,820 | $ 19,426 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY Statement - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] |
Common stock, shares issued at Dec. 31, 2012 | 71,047,000 | |||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2012 | $ (190,638) | $ (710) | $ (294,747) | $ (112,111) | $ (16,586) | $ (9,294) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 16,246 | 16,246 | ||||
Other comprehensive income (loss) | 3,180 | 3,180 | ||||
Stock based compensation | 8,131 | 8,131 | ||||
Excess tax benefit over book expense from stock options exercised | 2,868 | 2,868 | ||||
Restricted stock issued, Shares | 1,116,000 | |||||
Restricted stock issued, Value | $ 11 | $ 11 | ||||
Restricted stock forfeited or withheld to satisfy tax obligations, Shares | (438,000) | |||||
Restricted stock forfeited or withheld to satisfy tax obligations, Value | $ (1,204) | $ (4) | (1,200) | |||
Purchased of treasury stock under stock repurchase plan | $ (55,416) | (55,416) | ||||
Exercise of common stock options, Shares | 1,688,079 | 1,689,000 | ||||
Exercise of common stock options, Value | $ 3,358 | $ 17 | 3,341 | |||
Common stock, shares issued at Dec. 31, 2013 | 73,414,000 | |||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2013 | (167,812) | $ (734) | (309,087) | (168,727) | (32,832) | (6,114) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 27,612 | 27,612 | ||||
Other comprehensive income (loss) | (7,792) | (7,792) | ||||
Stock based compensation | 7,498 | 7,498 | ||||
Excess tax benefit over book expense from stock options exercised | 2,318 | 2,318 | ||||
Restricted stock issued, Shares | 1,114,000 | |||||
Restricted stock issued, Value | 11 | $ 11 | ||||
Restricted stock forfeited or withheld to satisfy tax obligations, Shares | (288,000) | |||||
Restricted stock forfeited or withheld to satisfy tax obligations, Value | (1,319) | $ (2) | (1,317) | |||
Purchased of treasury stock under stock repurchase plan | $ (32,455) | (32,455) | ||||
Exercise of common stock options, Shares | 3,126,522 | 3,126,000 | ||||
Exercise of common stock options, Value | $ 14,113 | $ 31 | 14,082 | |||
Common stock, shares issued at Dec. 31, 2014 | 77,366,000 | 77,366,000 | ||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2014 | $ (177,798) | $ (774) | (332,985) | (202,499) | (60,444) | (13,906) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | (10,968) | |||||
Other comprehensive income (loss) | (6,562) | |||||
Stock based compensation | 10,185 | 10,185 | ||||
Excess tax benefit over book expense from stock options exercised | 2,050 | 2,050 | ||||
Restricted stock issued, Shares | 1,262,000 | |||||
Restricted stock issued, Value | 12 | $ 12 | ||||
Restricted stock forfeited or withheld to satisfy tax obligations, Shares | (245,000) | |||||
Restricted stock forfeited or withheld to satisfy tax obligations, Value | (1,838) | $ (2) | (1,836) | |||
Purchased of treasury stock under stock repurchase plan | $ (39,075) | (39,075) | ||||
Exercise of common stock options, Shares | 1,802,913 | 1,836,000 | ||||
Exercise of common stock options, Value | $ 7,006 | $ 18 | 6,988 | |||
Performance-Based Restricted Stock Units eligible to vest, Shares | 498,000 | |||||
Performance-Based Restricted Stock Units eligible to vest, Value | $ 5 | $ 5 | ||||
Common stock, shares issued at Dec. 31, 2015 | 80,717,000 | 80,717,000 | ||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2015 | $ (138,613) | $ (807) | $ (352,208) | $ (243,410) | $ (49,476) | $ (20,468) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities: | |||
Net income (loss) | $ (10,968) | $ 27,612 | $ 16,246 |
Adjustments to reconcile net income to net cash flows from operating activities: | |||
Depreciation | 9,298 | 10,944 | 8,065 |
Amortization of intangible assets | 13,894 | 16,257 | 9,336 |
Deferred income taxes | 989 | 3,698 | 7,482 |
Amortization of deferred financing costs | 402 | 365 | 264 |
Stock based compensation | 10,185 | 7,498 | 8,131 |
Change in acquisition related contingencies | 0 | 153 | 197 |
Impairment of goodwill | 34,818 | 0 | 7,728 |
Impairment of intangible and fixed assets | 0 | 0 | 8,156 |
Loss on disposal of fixed assets | 0 | 22 | 319 |
Change in accrual for unrecognized tax benefits | 44 | 774 | 116 |
Changes in operating assets and liabilities, net of the effects of acquisitions: | |||
Accounts receivable | (2,140) | (9,709) | (1,438) |
Prepaid expense and other assets | 1,734 | (1,142) | 884 |
Accounts payable and accrued expenses | (1,054) | (1,069) | 2,662 |
Income taxes receivable/payable | 5,906 | (1,626) | (6,207) |
Deferred revenue | (571) | 8,767 | 2,378 |
Other, net | 250 | 395 | 10 |
Net cash flows from operating activities | 60,809 | 55,543 | 49,365 |
Cash flows from investing activities: | |||
Payments for acquisitions, net of cash acquired | 0 | (27,001) | (58,603) |
Purchases of fixed assets | (9,078) | (8,710) | (10,555) |
Purchases of investments | 0 | 0 | (3) |
Maturities and sales of investments | 0 | 0 | 2,194 |
Net cash flows from investing activities | (9,078) | (35,711) | (66,967) |
Cash flows from financing activities: | |||
Payments on long-term debt | (138,500) | (37,500) | (30,000) |
Proceeds from long-term debt | 129,000 | 29,000 | 103,000 |
Payments under stock repurchase plan | (38,212) | (33,007) | (55,711) |
Payment of acquisition related contingencies | (3,829) | (5,825) | (5,000) |
Proceeds from stock option exercises | 7,010 | 14,113 | 3,358 |
Purchase of treasury stock related to vested restricted stock | (1,835) | (1,319) | (1,204) |
Excess tax benefit over book expense from stock based compensation | 2,350 | 3,125 | 2,868 |
Financing costs paid | (646) | 0 | (872) |
Net cash flows from financing activities | (44,662) | (31,413) | 16,439 |
Effect of exchange rate changes | 204 | (993) | 501 |
Net change in cash and cash equivalents for the period | 7,273 | (12,574) | (662) |
Cash and cash equivalents, beginning of period | 26,777 | 39,351 | 40,013 |
Cash and cash equivalents, end of period | $ 34,050 | $ 26,777 | $ 39,351 |
ORGANIZATION AND PRINCIPAL ACTI
ORGANIZATION AND PRINCIPAL ACTIVITIES (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | ORGANIZATION AND PRINCIPAL ACTIVITIES DHI Group, Inc. (“DHI” or the “Company”), a Delaware corporation, was incorporated on June 28, 2005. Through predecessor companies, DHI has been in the recruiting and career development business for more than 25 years. The Company is a leading provider of specialized websites focused on select professional communities. Through the Company’s online communities, professionals can manage their careers by finding relevant job opportunities and by building their knowledge through original and community-shared content, while employers, recruiters, staffing agencies, consulting firms and marketing professionals can effectively target and reach highly-valued audiences. The Company operates career management services for technology, engineering, financial services, healthcare, hospitality and security-cleared professionals, as well as career management and information and data services for the energy industry. |
ASSETS HELD FOR SALE (Notes)
ASSETS HELD FOR SALE (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Restructuring and Related Activities Disclosure [Text Block] | ASSETS HELD FOR SALE The Company initiated the process to sell the Slashdot and SourceForge businesses (together referred to as “Slashdot Media”). Slashdot Media was added to the Company’s portfolio in 2012 to provide the Dice business with broader reach to millions of engaged tech professionals globally. The Board of Directors and management decided to divest the business because it does not fit within the Company’s strategic initiatives. The Slashdot Media business has been classified as “held for sale.” As such, the assets of Slashdot Media are shown on the Consolidated Balance Sheets under the heading of “Assets Held for Sale” and the liabilities are shown under “Liabilities Held for Sale.” Operating results are included in the Corporate & Other segment in Segment Information, Note 15. Assets held for sale are required to be measured at the lower of carrying value or fair value, less costs to sell. No impairment has been recognized related to Slashdot Media for the year ended December 31, 2015. The following table presents the aggregate carrying amount of the major classes of assets and liabilities related to the Slashdot Media business held for sale as of December 31, 2015 (in thousands): ASSETS Accounts receivable, net of allowance for doubtful accounts of $58 $ 3,625 Other assets — current 29 Fixed assets, net 594 Other assets — non-current 17 Total assets $ 4,265 LIABILITIES Accounts payable and accrued expenses $ 1,342 Deferred revenue 969 Income taxes payable 23 Total liabilities $ 2,334 Revenue for Slashdot Media was $14.8 million , $18.2 million , and $15.9 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively. There was income (loss) before incomes taxes for Slashdot of $1.1 million , $4.3 million , and ( $16.1 million ) for the years ended December 31, 2015 , 2014 , and 2013 , respectively. The Company sold Slashdot Media on January 27, 2016 for $2.8 million , subject to certain working capital settlements within 60 days of close, and incurred approximately $0.8 million of selling costs. The assets were held for sale as of December 31, 2015. |
ACQUISITIONS
ACQUISITIONS | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | ACQUISITIONS OilCareers —In March 2014, the Company acquired from the Daily Mail and General Trust PLC all of the issued and outstanding shares of OilCareers Limited, OilCareers.com, Inc. and OilCareers Pty Limited (collectively, “OilCareers”), a leading recruitment site for oil and gas professionals in Europe. The purchase price consisted of $26.1 million , paid in cash at closing, and $0.3 million paid in the second quarter of 2014 to settle certain working capital requirements. The valuation of assets and liabilities was completed during the second quarter of 2014. The OilCareers acquisition is not deemed significant to the Company’s financial results, thus limited disclosures are presented herein. The final valuation of assets and liabilities recognized as of the acquisition date for OilCareers include (in thousands): OilCareers Acquisition Assets: Accounts receivable $ 1,082 Acquired intangible assets 14,508 Goodwill 15,078 Fixed assets 98 Other assets 196 Assets acquired 30,962 Liabilities: Accounts payable and accrued expenses $ 567 Deferred revenue 1,081 Deferred income taxes 2,916 Liabilities assumed 4,564 Net Assets Acquired $ 26,398 Goodwill results from the expansion of the Company’s market share in the Energy vertical, from intangible assets that do not qualify for separate recognition, including an assembled workforce and site traffic, and from expected synergies from combining operations of OilCareers into the Company’s existing operations. The amount of goodwill from the OilCareers acquisition deductible for tax purposes is $1.2 million . See Note 5 regarding goodwill impairment recognized within the Energy reporting segment in 2015. 2013 Acquisitions onTargetjobs —In November 2013, the Company acquired all of the issued and outstanding shares of onTargetjobs, Inc., a leading vertical recruiting service in healthcare and hospitality. The purchase price consisted of $ 46.3 million , net of cash acquired. In the first quarter of 2014, $0.6 million was paid to settle certain working capital requirements. The Company borrowed $ 54.0 million under the then existing credit agreement to fund this acquisition. The acquisition resulted in recording intangible assets of $ 27.6 million and goodwill of $ 23.8 million . The assets acquired and liabilities assumed were recorded at fair value as of the acquisition date. The acquired accounts receivable of $ 6.3 million were recorded at fair value of $ 6.3 million . The Company incurred transaction costs related to the acquisition of $1.2 million , which were included in General and Administrative expense on the Consolidated Statements of Operations in the year ended December 31, 2013. The IT Job Board —In July 2013, the Company expanded its online tech recruiting business to Europe by acquiring all of the issued and outstanding shares of JobBoard Enterprises Limited, an online recruitment company in the technology industry, that operates The IT Job Board business (“The IT Job Board”). The purchase price consisted of £8.0 million ( $12.2 million ), net of cash acquired, plus deferred payments totaling £3.0 million ( $4.6 million ) in the aggregate, payable upon the achievement of certain operating and financial goals ending in 2014. The final deferred payment was made in February 2015. The Company borrowed $15.0 million under the then credit agreement to fund this acquisition. The acquisition resulted in recording intangible assets of $10.8 million and goodwill of $9.1 million . The assets acquired and liabilities assumed were recorded at fair value as of the acquisition date. The acquired accounts receivable of $1.2 million were recorded at fair value of $1.2 million . The IT Job Board acquisition is not deemed significant to the Company’s financial results, thus limited disclosures are presented herein. The assets and liabilities recognized as of the acquisition dates for onTargetjobs and The IT Job Board include (in thousands): onTargetjobs and The IT Job Board Acquisitions Assets: Cash and cash equivalents $ 8,200 Accounts receivable 7,558 Acquired intangible assets 38,410 Goodwill 32,935 Fixed assets 5,688 Other assets 1,195 Assets acquired 93,986 Liabilities: Accounts payable and accrued expenses $ 9,577 Deferred revenue 5,465 Deferred income taxes 7,160 Fair value of contingent consideration 4,474 Liabilities assumed 26,676 Net Assets Acquired $ 67,310 Goodwill results from the entrance or expansion of the Company’s market share in the Healthcare, Hospitality and Tech & Clearance verticals, from intangible assets that do not qualify for separate recognition, including an assembled workforce and site traffic, and from expected synergies from combining operations of The IT Job Board and onTargetjobs into the Company’s existing operations. The amount of goodwill from The IT Job Board and onTargetjobs acquisitions deductible for tax purposes is $3.9 million . |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS The FASB ASC topic on Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value and requires certain disclosures for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. As a basis for considering assumptions, a three-tier fair value hierarchy is used, which prioritizes the inputs used in measuring fair value as follows: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. • Level 3 – Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts reported in the Consolidated Balance Sheets for cash, accounts receivable, accounts payable and accrued expenses and long-term debt approximate their fair values. The fair value of the long-term debt was estimated using present value techniques and market based interest rates and credit spreads. The Company historically had obligations, to be paid in cash, related to its acquisitions if certain future operating and financial goals are met. The fair value of this contingent consideration is determined using expected cash flows and present value technique. Expected cash flows are determined using the probability weighted-average of possible outcomes that would occur should delivery of certain product enhancements occur. There is no market data available to use in valuing the contingent consideration; therefore, the Company developed its own assumptions related to the expected future delivery of product enhancements to estimate the fair value of these liabilities. A 2% discount rate is used to fair value the expected payments. The liabilities for the contingent consideration were established at the time of acquisition and are evaluated at each reporting period. The expense is included in “Change in Acquisition Related Contingencies” on the Consolidated Statements of Operations. The assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): December 31, 2014 Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Contingent consideration to be paid in cash for the acquisitions $ — $ — $ 3,883 $ 3,883 Reconciliations of liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) are as follows (in thousands): For the year ended December 31, 2015 2014 2013 Contingent consideration for acquisitions Balance at beginning of period $ 3,883 $ 9,793 $ 9,756 Additions for acquisitions — — 4,474 Cash payments (3,829 ) (5,825 ) (5,000 ) Change in estimates included in earnings — 153 197 Change due to foreign exchange rate changes (54 ) (238 ) 366 Balance at end of period $ — $ 3,883 $ 9,793 Certain assets and liabilities are measured at fair value on a non-recurring basis. These assets include goodwill and intangible assets which result as acquisitions occur. Items valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. Such instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, for example, when there is evidence of impairment. Goodwill —The Company determines whether the carrying value of recorded goodwill is impaired for each reporting unit on an annual basis or more frequently if indicators of potential impairment exist for each reporting unit. In testing goodwill for impairment, a qualitative assessment can be performed and if it is determined that the fair value of the reporting unit is more likely than not less than the carrying amount, the two step impairment test is required. The first step of the impairment review process compares the fair value of the reporting unit in which the goodwill resides to the carrying value of that reporting unit. The second step measures the amount of impairment loss, if any, by comparing the implied fair value of the reporting unit goodwill with its carrying amount. The determination of whether or not goodwill has become impaired involves a significant level of judgment in the assumptions underlying the approach used to determine the value of the reporting units. Fair values of each reporting unit are determined either by using a discounted cash flow methodology or by using a combination of a discounted cash flow methodology and a market comparable method. The discounted cash flow methodology is based on projections of the amounts and timing of future revenues and cash flows, assumed discount rates and other assumptions as deemed appropriate. Factors such as historical performance, anticipated market conditions, operating expense trends and capital expenditure requirements are considered. Additionally, the discounted cash flows analysis takes into consideration cash expenditures for product development, other technological updates and advancements to the websites and investments to improve the candidate databases. The market comparable method indicates the fair value of a business by comparing it to publicly traded companies in similar lines of business or to comparable transactions or assets. Considerations for factors such as size, growth, profitability, risk and return on investment are analyzed and compared to the comparable businesses and adjustments are made. A market value of invested capital of the publicly traded companies is calculated and then applied to the entity’s operating results to arrive at an estimate of value. Impairment —Goodwill at the Energy reporting unit with a carrying value of $50.2 million was written down to $15.4 million . In order to arrive at the $15.4 million implied fair value of goodwill, the Company calculated the fair value of all the assets and liabilities of the reporting unit as if it had been acquired in a business combination. After assigning fair value to the assets and liabilities of the reporting unit, the implied fair value of goodwill resulted in an impairment of $34.8 million in the year ended December 31, 2015. The goodwill balance represented a Level 3 asset measured at fair value on a nonrecurring basis subsequent to its original recognition. The fair value of the assets and liabilities of this reporting unit was determined by a combination of a discounted cash flow methodology and market comparable method. Cash flow projections for this reporting unit decreased due to a decline in financial performance resulting from declining oil prices. The charge is reflected as Impairment of Goodwill on the Consolidated Statements of Operations. As required under FASB ASC 360, Impairment or Disposal of Long-Lived Assets , an impairment loss shall be recognized only if the carrying amount of the long-lived asset is not recoverable and exceeds its fair value. The long-lived assets of the Energy reporting unit were tested for recoverability due to the downturn in the current and expected future financial performance of the reporting unit and no impairment of long-lived assets was identified during the years ended December 31, 2015 and 2014. Indefinite-lived Intangible Assets —The indefinite-lived acquired intangible assets include the Dice trademarks and brand name. The Company determines whether the carrying value of recorded indefinite-lived acquired intangible assets is impaired on an annual basis or more frequently if indicators of potential impairment exist. The impairment test performed as of October 1 last resulted in no impairment. The impairment review process compares the fair value of the indefinite-lived acquired intangible assets to its carrying value. If the carrying value exceeds the fair value, an impairment loss is recorded. The determination of whether or not indefinite-lived acquired intangible assets have become impaired involves a significant level of judgment in the assumptions underlying the approach used to determine the value of the indefinite-lived acquired intangible assets. Fair values are determined using a profit allocation methodology, which estimates the value of the trademark and brand name by capitalizing the profits saved because the Company owns the asset. Factors such as historical performance, anticipated market conditions, operating expense trends and capital expenditure requirements are considered. Changes in Company strategy and/or market conditions could significantly impact these judgments and require adjustments to recorded amounts of intangible assets. |
FIXED ASSETS (Notes)
FIXED ASSETS (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | FIXED ASSETS, NET Fixed assets, net consist of the following as of December 31, 2015 and 2014 (in thousands): 2015 2014 Computer equipment and software $ 16,817 $ 21,152 Furniture and fixtures 3,424 3,592 Leasehold improvements 3,624 2,095 Capitalized website development costs 14,816 12,900 38,681 39,739 Less: Accumulated depreciation and amortization (22,832 ) (23,673 ) Fixed assets, net $ 15,849 $ 16,066 |
ACQUIRED INTANGIBLE ASSETS, NET
ACQUIRED INTANGIBLE ASSETS, NET | 12 Months Ended |
Dec. 31, 2015 | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
Acquired Intangible Assets, Net | ACQUIRED INTANGIBLE ASSETS, NET Below is a summary of the major acquired intangible assets and the weighted-average amortization period for the acquired identifiable intangible assets (in thousands): As of and for the year ended December 31, 2015 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Acquired Intangible Assets, Net Weighted- Average Amortization Period Technology $ 10,308 $ (8,831 ) $ (615 ) $ 862 3.8 years Trademarks and brand names—Dice 39,000 — — 39,000 Indefinite Trademarks and brand names—Other 23,419 (13,156 ) (2,238 ) 8,025 6.1 years Customer lists 63,373 (42,808 ) (5,068 ) 15,497 5.5 years Candidate and content database 24,888 (22,088 ) (892 ) 1,908 2.4 years Acquired intangible assets, net $ 160,988 $ (86,883 ) $ (8,813 ) $ 65,292 As of and for the year ended December 31, 2014 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Accumulated Impairment Acquired Intangible Assets, Net Weighted- Average Amortization Period Technology $ 25,194 $ (20,481 ) $ (211 ) $ (1,374 ) $ 3,128 3.5 years Trademarks and brand names—Dice 39,000 — — — 39,000 Indefinite Trademarks and brand names—Other 26,889 (12,802 ) (855 ) (1,929 ) 11,303 6.1 years Customer lists 69,116 (43,774 ) (1,817 ) (3,281 ) 20,244 5.5 years Candidate and content database 44,670 (36,371 ) 27 (656 ) 7,670 2.7 years Order backlog 2,718 (2,718 ) — — — 0.5 years Acquired intangible assets, net $ 207,587 $ (116,146 ) $ (2,856 ) $ (7,240 ) $ 81,345 During the first quarter of 2015, the Company retired certain fully amortized acquired intangible assets no longer in service. OilCareers was acquired in March 2014 and the valuation of assets and liabilities was completed during the second quarter of 2014. Identifiable intangible assets for the OilCareers acquisition are included in the total cost as of December 31, 2014. The weighted-average amortization period for the technology, trademarks and brand names, customer lists and candidate and content database are 0.8 years , 2.0 years , 7.0 years and 2.0 years , respectively, related to the OilCareers acquisition. The weighted-average amortization period for the OilCareers trademarks and brand names was changed during the first quarter of 2015 due to the integration of the OilCareers brand with the Rigzone brand during 2015. The change in amortization period resulted in $721,000 of amortization accelerated and recognized during 2015. Identifiable intangible assets for The IT Job Board and onTargetjobs acquisitions are included in the total cost as of December 31, 2013. The weighted-average amortization period for the technology, trademarks and brand names, customer lists, candidate and content database and order backlog are 3.0 years , 6.9 years , 8.0 years , 2.8 years and 0.5 years , respectively, related to these acquisitions. Based on the carrying value of the acquired finite-lived intangible assets recorded as of December 31, 2015 , and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): 2016 $ 7,424 2017 4,484 2018 3,946 2019 3,641 2020 3,261 2021 and thereafter 3,536 Total $ 26,292 Indefinite Life on Trade Name The Dice.com trademarks and brand name is one of the most recognized names of online job boards. Since Dice’s inception in 1991, the brand has been recognized as a leader in recruiting and career development services for technology and engineering professionals. Currently, the brand is synonymous with the most specialized online marketplace for technology industry-specific talent. The brand has significant online and offline presence in online recruiting and career development services. Considering the recognition of the brand, its long history, awareness in the talent acquisition and staffing services market, and the intended use, the remaining useful life of the Dice.com trademarks and brand name was determined to be indefinite. |
INDEBTEDNESS
INDEBTEDNESS | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Indebtedness | INDEBTEDNESS Credit Agreement —In November 2015, the Company, together with Dice Inc. (a wholly-owned subsidiary of the Company) and its wholly-owned subsidiary, Dice Career Solutions, Inc. (collectively, the “Borrowers”) entered into an Amended and Restated Credit Agreement (the “Credit Agreement”), which provides for a revolving loan facility of $250.0 million maturing in November 2020. The Company borrowed $105.0 million under the new Credit Agreement to repay all outstanding indebtedness, including accrued interest and fees, under the previously existing credit agreement dated October 2013, terminating that agreement. Borrowings under the Credit Agreement bear interest at the Company’s option, at a LIBOR rate or a base rate plus a margin. The margin ranges from 1.75% to 2.50% on LIBOR loans and 0.75% to 1.50% on base rate loans, determined by the Company’s most recent consolidated leverage ratio. The facility may be prepaid at any time without penalty. The Credit Agreement contains various customary affirmative and negative covenants and also contains certain financial covenants, including a consolidated leverage ratio and a consolidated interest coverage ratio. Negative covenants include restrictions on incurring certain liens; making certain payments, such as stock repurchases and dividend payments; making certain investments; making certain acquisitions; and incurring additional indebtedness. Restricted payments are allowed under the Credit Agreement to the extent the consolidated leverage ratio, calculated on a pro forma basis, is equal to or less than 2.0 to 1.0, plus an additional $5.0 million of restricted payments. The Credit Agreement also provides that the payment of obligations may be accelerated upon the occurrence of customary events of default, including, but not limited to, non-payment, change of control, or insolvency. As of December 31, 2015 , the Company was in compliance with all of the financial covenants under the Credit Agreement. The obligations under the Credit Agreement are guaranteed by four of the Company’s wholly-owned subsidiaries, eFinancialCareers, Inc., Targeted Job Fairs, Inc., Rigzone.com, Inc. and onTargetJobs, Inc., and secured by substantially all of the assets of the Borrowers and the guarantors and stock pledges from certain of the Company’s foreign subsidiaries. Debt issuance costs of $646,000 were incurred and are being amortized over the life of the loan. These costs are included in interest expense. Unamortized deferred financing costs from the previous credit facility of $973,000 are being amortized over the life of the new Credit Agreement. Previous Credit Agreement —In October 2013, the Company entered into an agreement which provided for a $50.0 million term loan facility and a revolving loan facility of $200.0 million , with both facilities maturing in October 2018. The Company borrowed $65.0 million to repay all outstanding indebtedness under the previously existing credit agreement dated June 2012, terminating that agreement. Borrowings bore interest at the Company’s option, at a LIBOR rate or a base rate plus a margin. The margin ranges from 1.75% to 2.50% on LIBOR loans and 0.75% to 1.50% on base rate loans, determined by the Company’s most recent consolidated leverage ratio. The amounts borrowed as of December 31, 2015 and December 31, 2014 are as follows (dollars in thousands): December 31, December 31, Amounts borrowed: Term loan facility $ — $ 47,500 Revolving credit facility 101,000 63,000 Total borrowed $ 101,000 $ 110,500 Available to be borrowed under revolving facility $ 149,000 $ 137,000 Interest rates: LIBOR rate loans: Interest margin 2.00 % 2.00 % Actual interest rates 2.25 % 2.19 % There are no scheduled payments for the revolving loan facility of $250.0 million until maturity of the Credit Agreement in November 2020. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Leases The Company leases equipment and office space under operating leases expiring at various dates through December 2025. Future minimum lease payments under non-cancellable operating leases as of December 31, 2015 are as follows (in thousands): 2016 $ 4,182 2017 3,802 2018 3,806 2019 3,564 2020 3,122 2021 and thereafter 7,206 Total minimum payments $ 25,682 Rent expense was $4.5 million , $4.1 million and $3.2 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively, and is included in General and Administrative expense in the Consolidated Statements of Operations. Litigation The Company is subject to various claims from taxing authorities, lawsuits and other complaints arising in the ordinary course of business. The Company records provisions for losses when claims become probable and the amounts are reasonably estimable. Although the outcome of these legal matters cannot be determined, it is the opinion of management that the final resolution of these matters will not have a material effect on the Company’s financial condition, operations or liquidity. Tax Contingencies The Company operates in a number of tax jurisdictions and is routinely subject to examinations by various tax authorities with respect to income taxes and indirect taxes. The determination of the Company’s worldwide provision for taxes requires judgment and estimation. The Company has reserved for potential examination adjustments to our provision for income taxes and accrual of indirect taxes in amounts which we believe are reasonable. |
EQUITY TRANSACTIONS (Notes)
EQUITY TRANSACTIONS (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |
Stockholders' Equity Note Disclosure [Text Block] | EQUITY TRANSACTIONS Stock Repurchase Plans —The Company’s board of directors approved a stock repurchase program that permits the Company to repurchase its common stock. The following table summarizes the Stock Repurchase Plans approved by the board of directors: III IV V VI Approval Date January 2013 December 2013 December 2014 December 2015 Authorized Repurchase Amount of Common Stock $50 million $50 million $50 million $50 million Effective Dates April 2013 to December 2013 December 2013 to December 2014 December 2014 to December 2015 December 2015 to December 2016 The Company is currently under Stock Repurchase Plan VI, which will expire no later than December 2016. Under each plan, management has discretion in determining the conditions under which shares may be purchased from time to time. During the years ended December 31, 2015 , 2014 and 2013 purchases of the Company’s common stock pursuant to Stock Repurchase Plans were as follows: Period Total Number of Shares Purchased Average Price Paid per Share Approximate Dollar Value of Shares Purchased Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs Year Ended December 31, 2015 4,661,528 $ 8.38 $ 39,075,000 $ 47,629,000 Year Ended December 31, 2014 4,265,895 7.61 32,455,000 50,000,000 Year Ended December 31, 2013 6,561,747 8.45 55,416,000 48,849,000 Approximately $0.9 million of share repurchases had not settled as of December 31, 2015 and are included in accounts payable and accrued expenses in the accompanying Consolidated Balance Sheets. There were no unsettled share repurchases as of December 31, 2014 . Convertible Preferred Stock— The Company has 20 million shares of convertible preferred stock authorized, with a $0.01 par value. No shares have been issued and outstanding since prior to our initial public offering in 2007. The rights, preferences, privileges and restrictions granted to and imposed on the convertible preferred stock are as set forth below. These provisions are related to the preferred stock that was outstanding during the period. The Company currently has no preferred stock outstanding. The Company’s amended and restated certificate of incorporation permits the terms of any preferred stock to be determined at the time of issuance. Dividend provisions The preferred stockholders are entitled to dividends only when dividends were paid to common shareholders. In the event of a dividend, the holders of the preferred shares are entitled to share in the dividend on a pro rata basis, as if their shares had been converted into shares of common stock. Conversion rights Any holder of preferred stock has the right, at its option, to convert the preferred shares into shares of common stock at a ratio of one preferred stock share for one common stock share. The holders of 66 2 / 3 % of all outstanding preferred stock have the right at any time to require all the outstanding shares of preferred stock to be converted into an equal number of shares of common stock. Voting rights include the right to vote at a special or annual meeting of stockholders on all matters entitled to be voted on by holders of common stock, voting together as a single class with the common stock. There are no redemption rights associated with the preferred stock. Liquidation rights Upon the occurrence of liquidation, the holders of the preferred shares shall be paid in cash for each share of preferred stock held, out of, but only to the extent of, the assets of the Company legally available for distribution to its stockholders, before any payment or distribution is made to any shareholders of common stock . The liquidation value is $2.17 per share, subject to adjustments for stock splits, stock dividends, combinations, or other recapitalizations of the preferred stock. Dividends— No dividends have been declared in 2015 , 2014 or 2013 . Our Credit Agreement limits our ability to issue dividends. Refer to Note 8 “Indebtedness”. |
COMPREHENSIVE INCOME (Notes)
COMPREHENSIVE INCOME (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Comprehensive Income (Loss) Note [Text Block] | ACCUMULATED OTHER COMPREHENSIVE LOSS FASB ASC topic on Comprehensive Income establishes standards for the reporting and display of comprehensive income (loss) and its components in a full set of general-purpose financial statements. This statement requires that all items that are required to be recognized as components of comprehensive income (loss) be reported in a financial statement with the same prominence as other financial statements. The Company had $3,000 reclassified out of accumulated other comprehensive income for the year ended December 31, 2015 and no amounts reclassified out of accumulated other comprehensive income for the years ended December 31, 2014 and 2013. The unrealized gain (loss) on investments available-for-sale and foreign currency translation adjustments impact comprehensive income (loss). Accumulated other comprehensive income (loss), net consists of the following components, net of tax (in thousands): Year ended December 31, 2015 2014 2013 Unrealized gains (losses) on securities: Balance at beginning of year $ 3 $ 3 $ 9 Unrealized losses for the year, net of tax (3 ) — (6 ) Balance at end of year $ — $ 3 $ 3 Foreign currency translation: Balance at beginning of year $ (13,909 ) $ (6,117 ) $ (9,303 ) Translation adjustments (6,559 ) (7,792 ) 3,186 Balance at end of year $ (20,468 ) $ (13,909 ) $ (6,117 ) Total: Balance at beginning of year $ (13,906 ) $ (6,114 ) $ (9,294 ) Total adjustments for the year (6,562 ) (7,792 ) 3,180 Balance at end of year $ (20,468 ) $ (13,906 ) $ (6,114 ) |
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation | STOCK BASED COMPENSATION Under the 2012 Omnibus Equity Award Plan, the Company has granted stock options, restricted stock and Performance-Based Restricted Stock Units (“PSUs”) to certain employees and directors. Compensation expense for stock-based awards made to employees and directors in return for service is recorded in accordance with Compensation-Stock Compensation of the FASB ASC. The Company estimates forfeitures that it expects will occur and records expense based upon the number of awards expected to vest. The Company recorded total stock based compensation expense of $10.2 million , $7.5 million , and $8.1 million during the years ended December 31, 2015 , 2014 , and 2013 respectively. At December 31, 2015 , there was $16.9 million of unrecognized compensation expense related to unvested awards, which is expected to be recognized over a weighted-average period of approximately 1.6 years. PSUs— PSUs are granted to employees of the Company and its subsidiaries. These shares are part of the compensation plan for services provided by the employees. The fair value of PSUs is measured using the Monte Carlo pricing model. The expense related to the PSUs is recorded over the vesting period. There was no cash flow impact resulting from the grants. During the year ended December 31, 2015 , the Company granted 415,000 PSUs. These shares will vest on the dates the Compensation Committee certifies the Company’s achievement of stock price performance relative to the Russell 2000 Index, provided that the recipient remains employed through such date. Performance will be measured over three separate measurement periods: a one-year measurement period, a two-year measurement period and a three-year measurement period. For performance periods one and two, vesting is not to exceed total grant divided by three. For performance period three, vesting is no less than zero and no greater than 150% of initial grant less shares vested in performance periods one and two. The fair value of PSUs is measured using the Monte Carlo pricing model using the following assumptions: Year Ended December 31, 2015 Weighted average fair value of PSUs granted $ 9.25 Dividend yield — % Risk free interest rate 1.1 % Expected volatility 33.6 % During the year ended December 31, 2015 , there were no PSUs forfeited. Restricted Stock— Restricted stock is granted to employees of the Company and its subsidiaries, and to non-employee members of the Company’s Board. These shares are part of the compensation plan for services provided by the employees or Board members. The closing price of the Company’s stock on the date of grant is used to determine the fair value of the grants. The expense related to the restricted stock grants is recorded over the vesting period. There was no cash flow impact resulting from the grants. The restricted stock vests in various increments on the anniversaries of each grant, subject to the recipient’s continued employment or service through each applicable vesting date. Vesting occurs over one year for Board members and over four years for employees. A summary of the status of restricted stock awards as of December 31, 2015 , 2014 , and 2013 and the changes during the periods then ended is presented below: Year Ended December 31, 2015 2014 2013 Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Non-vested at beginning of the period 1,786,581 $ 8.45 1,560,375 $ 9.81 1,305,369 $ 10.09 Granted—Restricted Stock 1,261,600 $ 8.83 1,114,700 $ 7.39 1,116,000 $ 9.67 Forfeited during the period (245,312 ) $ 8.34 (288,450 ) $ 8.72 (437,813 ) $ 9.99 Vested during the period (680,644 ) $ 8.91 (600,044 ) $ 9.87 (423,181 ) $ 10.15 Non-vested at end of period 2,122,225 $ 8.54 1,786,581 $ 8.45 1,560,375 $ 9.81 Stock Options— The fair value of each option grant is estimated using the Black-Scholes option-pricing model using the weighted-average assumptions in the table below. This valuation model requires the Company to make assumptions and judgments about the variables used in the calculation, including the fair value of the Company’s common stock, the expected life (the period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, a risk-free interest rate and expected dividends. The expected life of options granted is derived from historical exercise behavior. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury rates in effect at the time of grant. The stock options vest 25% after one year, beginning on the first anniversary date of the grant, and 6.25% each quarter following the first anniversary. There was no cash flow impact resulting from the grants. No stock options were granted during the year ended December 31, 2015 . Year Ended December 31, 2014 2013 The weighted average fair value of options granted $ 2.62 $ 3.51 Dividend yield — % — % Weighted average risk free interest rate 1.56 % 1.03 % Weighted average expected volatility 40.16 % 42.29 % Expected life (in years) 4.6 4.6 A summary of the status of options granted as of December 31, 2015 , 2014 , and 2013 , and the changes during the periods then ended is presented below: Year Ended December 31, 2015 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 4,667,738 $ 6.14 $ 19,357,512 Exercised (1,802,913 ) $ 3.92 $ 9,162,469 Forfeited (191,313 ) $ 10.76 — Options outstanding at December 31 2,673,512 $ 7.46 $ 5,485,248 Exercisable at December 31 2,037,318 $ 7.19 $ 4,832,280 Options expected to vest at December 31 625,741 $ 8.31 Year Ended December 31, 2014 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 7,536,601 $ 5.53 $ 17,493,907 Granted 659,500 $ 7.32 — Exercised (3,126,522 ) $ 4.51 $ 13,035,677 Forfeited (401,841 ) $ 9.33 — Options outstanding at December 31 4,667,738 $ 6.14 $ 19,357,512 Exercisable at December 31 3,513,920 $ 5.43 $ 17,239,884 Year Ended December 31, 2013 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 8,780,400 $ 4.67 $ 41,236,574 Granted 1,087,000 $ 9.59 $ — Exercised (1,688,079 ) $ 1.99 $ 12,042,458 Forfeited (642,720 ) $ 9.90 — Options outstanding at December 31 7,536,601 $ 5.53 $ 17,493,907 Exercisable at December 31 6,275,243 $ 4.77 $ 17,413,337 The weighted-average remaining contractual term of options exercisable at December 31, 2015 is 2.4 years. The following table summarizes information about options outstanding as of December 31, 2015 : Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable (in years) $ 1.00 - $ 3.99 168,000 0.1 168,000 $ 4.00 - $ 5.99 325,070 0.9 325,070 $ 6.00 - $ 8.99 1,461,604 3.2 1,051,036 $ 9.00 - $ 14.50 718,838 4.0 493,212 2,673,512 2,037,318 |
INCOME TAXES (Notes)
INCOME TAXES (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES Deferred tax assets (liabilities) included in the balance sheet as of December 31, 2015 and 2014 are as follows (in thousands): 2015 2014 Deferred tax assets: Net operating loss carryforward $ 523 $ 1,831 Allowance for doubtful accounts 671 728 Provision for accrued expenses and other, net 2,412 1,938 Stock based compensation 4,825 4,516 Deferred revenue 173 82 Tax credit carryforward 1,443 1,467 10,047 10,562 Less valuation allowance 1,746 1,793 Deferred tax asset, net of valuation allowance 8,301 8,769 Deferred tax liabilities: Acquired intangibles (15,264 ) (18,672 ) Depreciation of fixed assets (3,564 ) (1,806 ) Deferred tax liabilities (18,828 ) (20,478 ) Net deferred tax liability $ (10,527 ) $ (11,709 ) Recognized in Consolidated Balance Sheets: Deferred tax asset 322 481 Deferred tax liability (10,849 ) (12,190 ) Net deferred tax liability $ (10,527 ) $ (11,709 ) At December 31, 2015 and 2014 , the Company had deferred tax assets of $523,000 and $1.8 million , respectively, related to net operating loss carryforwards and $1.4 million and $1.5 million , respectively, related to tax credit carryforwards. The net operating losses expire in various years through 2030, and the tax credits expire in various years through 2023. The Company has recorded valuation allowances of $1.7 million and $1.8 million , respectively, at December 31, 2015 and 2014 in order to measure only the portion of the deferred tax assets which are more likely than not to be realized. Tax expense (benefit) for the years ended December 31, 2015 , 2014 and 2013 is as follows (in thousands): 2015 2014 2013 Current income tax expense (benefit): Federal $ 10,201 $ 13,184 $ 16,372 State 1,491 1,948 1,511 Foreign 3,500 3,753 (2,528 ) Current income tax expense (benefit) 15,192 18,885 15,355 Deferred income tax expense (benefit): Federal 998 (1,048 ) (4,735 ) State 405 (448 ) (350 ) Foreign (2,586 ) (2,152 ) 779 Deferred income tax expense (benefit) (1,183 ) (3,648 ) (4,306 ) Income tax expense $ 14,009 $ 15,237 $ 11,049 A reconciliation of the federal statutory tax rate to the effective tax rate on continuing operations applicable to income before income tax expense (benefit) follows: Year Ended December 31, 2015 2014 2013 Federal statutory rate 35.0 % 35.0 % 35.0 % Permanent items excluding nondeductible impairment 0.6 % 0.8 % 0.8 % Nondeductible impairment 302.5 % — % — % State taxes, net of federal effect 47.2 % 2.4 % 4.0 % Difference between foreign and U.S. rates 77.8 % (1.7 )% (0.5 )% Change in unrecognized tax benefits 1.5 % 1.8 % 1.1 % Recognition of tax loss carryforwards — % (4.3 )% — % Other (3.9 )% 1.6 % 0.1 % Effective tax rate 460.7 % 35.6 % 40.5 % The Company recorded an impairment charge of $34.8 million in 2015, of which $33.6 million related to goodwill for which the Company had zero tax basis, and thus represented a permanent non-deductible amount for tax purposes. Based on the statutory tax rates in the jurisdictions where the impairment was recorded, the $33.6 million non-deductible amount resulted in tax expense of $9.2 million . The impairment caused the Company’s 2015 state tax rate to differ significantly from 2014 and 2013. U.S. income before taxes for the year ended December 31, 2015 included a non-deductible impairment charge of $15.3 million . Excluding the non-deductible impairment, the Company had U.S. income before taxes of $34.1 million , which resulted in state tax expense of $1.4 million . The Company’s 2015 allocation of income (loss) between the U.S. and foreign jurisdictions differed significantly from 2014 and 2013 due to the impact of the impairment. Income (loss) before taxes for the year ended December 31, 2015 was $18.8 million in the U.S. and $(15.8) million in foreign jurisdictions. The foreign loss included a non-deductible impairment charge of $18.3 million . Excluding the impairment, the Company had foreign income before taxes of $2.5 million , which resulted in foreign tax expense of $914,000 . The Company’s income (loss) before tax from foreign entities was $(15.8) million , $2.9 million and $(5.7) million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The Company plans to continue to finance expansion and operating requirements of subsidiaries outside the U.S. through reinvestment of the undistributed earnings of these subsidiaries (approximately $28 million at December 31, 2015 ), and taxes that would result from potential distributions have not been provided. If earnings were distributed, additional taxes payable would be reduced by available tax credits arising from taxes paid outside the U.S. An uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed tax return, or planned to be taken in a tax return not yet filed, that has not been reflected in measuring income tax expense for financial reporting purposes. At both December 31, 2015 and 2014 , the Company has recorded a liability of $3.4 million which consists of unrecognized tax benefits of $3.0 million and $3.1 million , respectively, and estimated accrued interest and penalties of $447,000 and $270,000 , respectively. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. During the years ended December 31, 2015 , 2014 and 2013 , interest and penalties recorded in the Consolidated Statements of Operations were $177,000 , $11,000 and $(52,000) , respectively. Following is a reconciliation of the amounts of unrecognized tax benefits for the year ended December 31, 2015 , 2014 and 2013 (in thousands): 2015 2014 2013 Unrecognized tax benefits—beginning of period $ 3,122 $ 2,359 $ 2,191 Gross increases in tax positions related to current year 169 608 453 Gross increases in tax positions related to prior year 76 201 233 Settlements with taxing authorities — — (301 ) Lapse of statute of limitations (378 ) (46 ) (217 ) Unrecognized tax benefits—end of period $ 2,989 $ 3,122 $ 2,359 The balance of unrecognized tax benefits of $3.4 million as of both December 31, 2015 and 2014 if recognized, would affect the effective tax rate. The Company files income tax returns in the U.S. federal jurisdiction, and various state, local and foreign jurisdictions. The Company is generally no longer subject to examinations by tax authorities for its U.S. federal and foreign tax returns for years prior to 2012; or for its U.S. state and local tax returns for years prior to 2010. The Company believes it is reasonably possible that as much as $829,000 of its unrecognized tax benefits may be recognized by the end of 2016 as a result of a lapse of the statute of limitations. |
EMPLOYEE SAVINGS PLAN (Notes)
EMPLOYEE SAVINGS PLAN (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | EMPLOYEE SAVINGS PLAN The Company has a savings plan (the “Savings Plan”) that qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under the Savings Plan, participating employees may defer a portion of their pretax earnings, up to the Internal Revenue Service annual contribution limit. The Company contributed $1.6 million , $1.4 million , and $1.2 million for the years ended December 31, 2015 , 2014 and 2013 , respectively, to match employee contributions to the Savings Plan. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company changed its reportable segments during the first quarter of 2015 to reflect the current operating structure. Accordingly, all prior periods have been recast to reflect the current segment presentation. The Company has five reportable segments: Tech & Clearance, Finance, Energy, Healthcare and Hospitality. The Tech & Clearance reportable segment includes the Dice, ClearanceJobs, and Dice Europe services, as well as career fairs. The Finance reportable segment includes the eFinancialCareers service worldwide. The Energy reportable segment includes the Rigzone service, OilCareers service (from the date of acquisition through March 2015, when the OilCareers recruitment site was merged into Rigzone) and career fairs. The Healthcare reportable segment includes Health eCareers and BioSpace services. The Hospitality reportable segment includes Hcareers. Management has organized its reportable segments based upon the industry verticals served. Each of the reportable segments generates significant revenue from sales of recruitment packages and related services. The Company has other services and activities that individually are not more than 10% of consolidated revenues, operating income or total assets. These include Slashdot Media, WorkDigital, BrightMatter and IT Media and are reported in the “Corporate & Other” category, along with corporate-related costs which are not considered in a segment. The Company’s foreign operations are comprised of the Dice Europe operations and a portion of the eFinancialCareers and Rigzone services, which operate in Europe, the financial centers of the gulf region of the Middle East and Asia Pacific. The Company’s foreign operations also include Hcareers, which operates in Canada. Revenue by geographic region, as shown in the table below, is based on the location of the Company’s subsidiary. The following table shows the segment information (in thousands): 2015 2014 2013 By Segment: Revenues: Tech & Clearance $ 138,553 $ 133,609 $ 130,969 Finance 36,408 36,661 34,997 Energy 21,036 30,449 23,503 Healthcare 30,762 26,913 5,563 Hospitality 15,954 13,656 1,389 Corporate & Other 17,056 21,327 17,061 Total revenues $ 259,769 $ 262,615 $ 213,482 Depreciation: Tech & Clearance $ 6,495 $ 6,280 $ 5,254 Finance 548 578 523 Energy 192 178 119 Healthcare 1,599 2,639 729 Hospitality 175 261 45 Corporate & Other 289 1,008 1,395 Total depreciation $ 9,298 $ 10,944 $ 8,065 Amortization: Tech & Clearance $ 3,460 $ 3,838 $ 1,703 Finance 38 76 425 Energy 6,211 5,767 3,100 Healthcare 1,758 3,665 1,285 Hospitality 1,930 2,273 389 Corporate & Other 497 638 2,434 Total amortization $ 13,894 $ 16,257 $ 9,336 2015 2014 2013 Operating income (loss): Tech & Clearance $ 49,888 $ 48,441 $ 59,526 Finance 7,419 6,523 6,790 Energy (36,727 ) 6,214 6,275 Healthcare (150 ) (4,817 ) (4,773 ) Hospitality 4,917 2,258 (1,036 ) Corporate & Other (18,992 ) (12,015 ) (37,576 ) Operating income 6,355 46,604 29,206 Interest expense (3,289 ) (3,744 ) (1,906 ) Interest income — — 30 Other income (expense) (25 ) (11 ) (35 ) Income before income taxes $ 3,041 $ 42,849 $ 27,295 Capital expenditures: Tech & Clearance $ 5,652 $ 5,611 $ 8,183 Finance 608 671 314 Energy 354 157 403 Healthcare 2,350 1,548 701 Hospitality 66 42 — Corporate & Other 208 513 1,527 Total capital expenditures $ 9,238 $ 8,542 $ 11,128 By Geography: Revenues: United States $ 185,847 $ 187,427 $ 169,662 EMEA (1) 46,139 52,446 33,651 APAC and Canada (2) 27,783 22,742 10,169 Non-United States 73,922 75,188 43,820 Total revenues $ 259,769 $ 262,615 $ 213,482 (1) Europe, the Middle East and Africa (“EMEA”) (2) Asia-Pacific (“APAC”) December 31, December 31, December 31, Total assets: Tech & Clearance $ 177,519 $ 185,547 $ 180,366 Finance 75,191 69,960 89,213 Energy 34,406 85,042 52,374 Healthcare 19,669 20,794 28,679 Hospitality 38,979 33,742 38,600 Corporate & Other 24,735 28,871 31,409 Total assets $ 370,499 $ 423,956 $ 420,641 The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2015 and 2014 and the changes in goodwill for the years ended (in thousands): Tech & Clearance Finance Energy Healthcare Hospitality Corporate & Other Total Goodwill at January 1, 2014 Goodwill $ 96,519 $ 63,467 $ 35,104 $ 7,714 $ 17,456 $ 24,871 $ 245,131 Accumulated impairment losses — (7,213 ) — (1,445 ) — (6,283 ) (14,941 ) $ 96,519 $ 56,254 $ 35,104 $ 6,269 $ 17,456 $ 18,588 $ 230,190 Goodwill acquired during the year — — 15,078 — — — 15,078 Foreign currency translation adjustment (573 ) (2,781 ) 5 — (1,585 ) (1,078 ) (6,012 ) Goodwill at December 31, 2014 Goodwill $ 95,946 $ 60,686 $ 50,187 $ 7,714 $ 15,871 $ 23,793 $ 254,197 Accumulated impairment losses — (7,213 ) — (1,445 ) — (6,283 ) (14,941 ) $ 95,946 $ 53,473 $ 50,187 $ 6,269 $ 15,871 $ 17,510 $ 239,256 Impairment losses — — (34,818 ) — — — (34,818 ) Foreign currency translation adjustment (423 ) (2,058 ) — — (2,559 ) (800 ) (5,840 ) Goodwill at December 31, 2015 Goodwill $ 95,523 $ 58,628 $ 50,187 $ 7,714 $ 13,312 $ 22,993 $ 248,357 Accumulated impairment losses — (7,213 ) (34,818 ) (1,445 ) — (6,283 ) (49,759 ) $ 95,523 $ 51,415 $ 15,369 $ 6,269 $ 13,312 $ 16,710 $ 198,598 Goodwill impairment of $34.8 million was recorded during the year ended December 31, 2015 at the Energy segment. Goodwill acquired during the year ended December 31, 2014 was the result of the OilCareers acquisition. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed based on the weighted-average number of shares of common stock outstanding. Diluted EPS is computed based on the weighted-average number of shares of common stock outstanding plus common stock equivalents assuming exercise of stock options, where dilutive. In 2015, shares issuable upon exercise of stock options of 1.3 million were excluded from the computation of shares contingently issuable upon exercise as we recognized a net loss. Options to purchase approximately 2.5 million and 2.7 million shares were outstanding during the years ended December 31, 2014 and 2013 respectively, but were excluded from the calculation of diluted EPS for the periods then ended because the options’ exercise price was greater than the average market price of the common shares. The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): 2015 2014 2013 Income (loss) from continuing operations—basic and diluted $ (10,968 ) $ 27,612 $ 16,246 Weighted-average shares outstanding—basic 51,402 52,328 56,473 Add shares issuable upon exercise of stock options — 2,082 3,003 Weighted-average shares outstanding—diluted 51,402 54,410 59,476 Basic earnings (loss) per share $ (0.21 ) $ 0.53 $ 0.29 Diluted earnings (loss) per share $ (0.21 ) $ 0.51 $ 0.27 |
QUARTERLY RESULTS OF OPERATIONS
QUARTERLY RESULTS OF OPERATIONS (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following is a summary of unaudited quarterly results of operations for 2015 and 2014 : For the Three Months Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) 2015 Revenues $ 63,770 $ 65,802 $ 65,138 $ 65,059 Total operating expenses 54,610 55,286 54,180 89,338 Operating income (loss) $ 9,160 $ 10,516 $ 10,958 $ (24,279 ) [1] Net income (loss) $ 5,092 $ 5,678 $ 6,511 $ (28,249 ) Basic earnings (loss) per common share $ 0.10 $ 0.11 $ 0.13 $ (0.56 ) [2] Diluted earnings (loss) per common share $ 0.09 $ 0.11 $ 0.12 $ (0.56 ) 2014 Revenues $ 60,690 $ 66,544 $ 67,615 $ 67,766 Total operating expenses 52,814 53,556 54,183 55,458 Operating income $ 7,876 $ 12,988 $ 13,432 $ 12,308 Net income $ 4,395 $ 7,208 $ 9,493 $ 6,516 Basic earnings per common share $ 0.08 $ 0.14 $ 0.18 $ 0.13 Diluted earnings per common share $ 0.08 $ 0.13 $ 0.18 $ 0.12 ____________________ [1] Impairment of goodwill of $34.8 million was recorded during the three months ended December 31, 2015 related to the Energy segment. [2] Due to rounding, the sum of the quarters may not equal the full year amount. |
SCHEDULE II CONSOLIDATED VALUAT
SCHEDULE II CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II DHI GROUP, INC. CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS As of December 31, 2013, 2014 and 2015 (in thousands) Column A Column B Column C Column D Column E Balance at Beginning of Period Charged to Income Deductions (1) Balance at End of Period Description Reserves Deducted From Assets to Which They Apply: Reserve for uncollectible accounts receivable: Year ended December 31, 2013 $ 2,095 $ 1,892 $ (1,268 ) $ 2,719 Year ended December 31, 2014 2,719 1,035 (866 ) 2,888 Year ended December 31, 2015 2,888 1,718 (1,661 ) 2,945 Reserve for deferred tax assets: Year ended December 31, 2013 $ 807 $ (807 ) $ — $ — Year ended December 31, 2014 — 1,793 — 1,793 Year ended December 31, 2015 1,793 (47 ) — 1,746 ____________________ (1) Includes an adjustment for changes in exchange rates during the year |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation — The consolidated financial statements include the accounts of DHI and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition — The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery of service has occurred, the sales price is fixed or determinable and collectability is reasonably assured. Revenue is recognized net of customer discounts ratably over the service period. Payments received in advance of services being rendered are recorded as deferred revenue and recognized over the service period. The Company generates revenue from the following sources: Recruitment packages . Recruitment package revenues are derived from the sale to recruiters and employers a combination of job postings and access to a searchable database of candidates on the Dice, ClearanceJobs, eFinancialCareers, Rigzone, Healthecareers, Biospace and Hcareers websites. Certain of the Company’s arrangements include multiple deliverables, which consist of the ability to post jobs and access to a searchable database of candidates. The Company determines the units of accounting for multiple element arrangements in accordance with the Multiple-Deliverable Revenue Arrangements subtopic of the FASB ASC. Specifically, the Company will consider a delivered item as a separate unit of accounting if it has value to the customer on a standalone basis. The Company’s arrangements do not include a general right of return. Services to customers buying a package of available job postings and access to the database are delivered over the same period and revenue is recognized ratably over the length of the underlying contract, typically from one to 12 months. The separation of the package into two deliverables results in no change in revenue recognition since delivery of the two services occurs over the same time period. Advertising revenue. Advertising revenue is recognized over the period in which the advertisements are displayed on the websites or at the time an e-mail is sent to registered members. Classified revenue. Classified job posting revenues are derived from the sale of job postings to recruiters and employers. A job posting is the ability to list a job on the website for a specified time period. Revenue from the sale of classified job postings is recognized ratably over the length of the contract or the period of actual usage. Data services revenue. Access to the Company’s database of energy industry data is provided to customers for a fee. Data services revenue is recognized ratably over the length of the underlying contract, typically from one to 12 months. Career fair and recruitment event booth rentals . Career fair and recruitment event revenues are derived from renting booth space to recruiters and employers. Revenue from these sales is recognized when the career fair or recruitment event is held. Certain customers purchase access to resumes obtained at these career fairs, which revenue is recognized on a per event basis over the period of the contract. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Risks and Uncertainties— The Company is subject to the risks, expenses and uncertainties frequently encountered by companies in the new and rapidly evolving markets for internet products and services. These risks include the failure to develop and extend the Company’s online service brands, the rejection of the Company’s services by consumers, vendors and/or advertisers, the inability of the Company to maintain and increase the levels of traffic on its online services, as well as other risks and uncertainties. In the event that the Company does not successfully execute its business plan, certain assets may not be recoverable. Concentration of Credit Risk— Cash is maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. These deposits may be redeemed upon demand. The Company believes it is not exposed to any significant credit risk. The Company performs ongoing credit evaluations of its customers’ financial condition and generally does not require collateral on accounts receivable. No single customer represents 10% or more of revenues for the years ended December 31, 2015 , 2014 and 2013 . |
Revenue Recognition, Allowances [Policy Text Block] | Allowance for Doubtful Accounts— The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. If the financial condition of DHI’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Statements of Cash Flows— All bank deposits are considered cash and cash equivalents. The supplemental disclosures to the accompanying consolidated statements of cash flows are as follows (in thousands): 2015 2014 2013 Supplemental cash flow information: Interest paid $ 2,937 $ 3,420 $ 1,615 Taxes paid 6,853 16,513 21,395 Non-cash investing and financing activities: Contingent consideration to be paid in cash for acquisitions — — 4,474 Capital expenditures on fixed assets included in accounts payable and accrued expenses 431 284 510 Share repurchases included in accounts payable and accrued expenses 863 — 553 |
Property, Plant and Equipment, Policy [Policy Text Block] | Fixed Assets— Depreciation of equipment, furniture and fixtures, computer software and capitalized website development costs are provided under the straight-line method over estimated useful lives ranging from two to five years. Amortization of leasehold improvements is provided over the shorter of the term of the related lease or the estimated useful life of the improvement. The cost of additions and betterments is capitalized, and repairs and maintenance costs are charged to operations in the periods incurred. |
Research, Development, and Computer Software, Policy [Policy Text Block] | Capitalized Software Costs— Capitalized software costs consist of costs to purchase and develop software for internal use. The Company capitalizes certain incurred software development costs in accordance with the Internal Use Software subtopic of the FASB ASC. Costs incurred during the application-development stage for software bought and further customized by outside vendors for the Company’s use and software developed by a vendor for the Company’s proprietary use have been capitalized. |
Internal Use Software, Policy [Policy Text Block] | Website Development Costs— The Company capitalizes certain costs incurred in designing, developing, testing and implementing enhancements to its websites. These costs are amortized over the enhancement’s estimated useful life, which generally approximates two years. Costs related to the planning and post implementation phases of website development efforts are expensed as incurred. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Indefinite-Lived Acquired Intangible Assets— Goodwill is recorded when the purchase price paid for an acquisition exceeds the estimated fair value of the net identified tangible and intangible assets acquired. The indefinite-lived acquired intangible assets include the Dice trademarks and brand name. The Company performs a test for impairment of goodwill and indefinite-lived intangible assets annually on October 1, or more frequently if indicators of potential impairment exist, to determine if the carrying value of the recorded asset is impaired. The impairment review process for goodwill compares the fair value of the reporting unit in which goodwill resides to its carrying value. The impairment review process for indefinite-lived intangible assets compares the fair value of the assets to their carrying value. The determination of whether or not the asset has become impaired involves a significant level of judgment in the assumptions underlying the approach used to determine the value of the Company’s reporting units or the intangible asset. Changes in the Company’s strategy and/or market conditions could significantly impact these judgments and require adjustments to recorded amounts of goodwill or indefinite-lived intangible assets. See Note 5 for discussion of impairment charges. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation— For the Company’s foreign operations whose functional currency is not the U.S. dollar, the assets and liabilities are translated into U.S. dollars at current exchange rates. Resulting translation adjustments are reflected as Other Comprehensive Income (Loss). Revenue and expenses are translated at average exchange rates for the period. Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are charged to operations as incurred. |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising Costs— The Company expenses advertising costs as they are incurred. Advertising expense for the years ended December 31, 2015 , 2014 and 2013 was $33.2 million , $29.9 million and $31.1 million , respectively. |
Income Tax, Policy [Policy Text Block] | Income Taxes— The Company recognizes deferred taxes by the asset and liability method. Under this method, deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities at enacted statutory tax rates in effect for the years in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The primary sources of temporary differences are stock-based compensation, amortization of intangible assets, and depreciation of fixed assets. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation— The Company has a plan to grant equity awards to certain employees and directors of the Company and its subsidiaries. See Note 12. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments— The carrying amounts reported in the consolidated balance sheet for cash, accounts receivable, and accounts payable and accrued expenses approximate their fair values. The Company’s long-term debt consists of borrowings under its credit facility. See Note 5 for fair value disclosures. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates— The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. DHI’s significant estimates include the useful lives and valuation of fixed assets and intangible assets, goodwill, the income tax valuation allowance, the assumptions used to value the stock options of the Company, and the valuation of assets acquired and liabilities assumed from acquisitions. |
Earnings Per Share, Policy [Policy Text Block] | Net Income per Common and Common Equivalent Share— The Company follows the Earnings Per Share topic of the FASB ASC in computing earnings per share (“EPS”). The two-class method establishes the computation of EPS by companies that have issued securities other than common stock that contractually entitle the holder to participate in dividends and earnings of the company. Earnings available to common shareholders for the period, after deduction of convertible preferred stock dividends, are allocated between the common and convertible preferred shareholders based on their respective rights to receive dividends. Basic EPS is then calculated by dividing income allocable to common shareholders (including the reduction for any undeclared, preferred stock dividends assuming current income for the period had been distributed) by the weighted average number of shares outstanding. The Company calculates diluted EPS under the if-converted method unless the conversion of the convertible preferred stock is anti-dilutive to basic EPS. To the extent convertible preferred stock is anti-dilutive, the Company calculates diluted EPS under the two-class method to include the effect of potential common shares. See Note 16. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements— In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (ASU) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs . The new standard requires that debt issuance costs be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability. The recognition and measurement for debt issuance costs is not affected by this standard. The updated standard becomes effective for reporting periods (interim and annual) beginning after December 15, 2015, with early adoption permitted. The new standard must be applied retrospectively to all periods presented in the financial statements. The Company does not expect this standard to have a material impact on its financial statements. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers . The new standard outlines the principles an entity must apply to measure and recognize revenue and the related cash flows it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP. The updated standard becomes effective for reporting periods (interim and annual) beginning after December 15, 2017, with no early adoption permitted. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is assessing the potential impact of the new standard on its consolidated financial statements and has not yet selected a transition method. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes. The new standard simplifies the presentation of deferred tax assets and deferred tax liabilities and requires deferred taxes to be classified as non-current. The updated standard becomes effective for reporting periods (interim and annual) beginning after December 15, 2016, with early adoption permitted and can be applied prospectively or retrospectively. The Company has chosen to adopt early and apply the pronouncement retrospectively. The pronouncement was adopted early to simplify the presentation of deferred tax assets and deferred tax liabilities on the balance sheet. The impact on December 31, 2014 balance sheet amounts was to reclassify $3.4 million of current deferred tax assets and $3,000 of current deferred tax liabilities as non-current deferred income taxes. |
ASSETS HELD FOR SALE (Tables)
ASSETS HELD FOR SALE (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Group, Including Discontinued Operation, Assets of Disposal Group | The following table presents the aggregate carrying amount of the major classes of assets and liabilities related to the Slashdot Media business held for sale as of December 31, 2015 (in thousands): ASSETS Accounts receivable, net of allowance for doubtful accounts of $58 $ 3,625 Other assets — current 29 Fixed assets, net 594 Other assets — non-current 17 Total assets $ 4,265 LIABILITIES Accounts payable and accrued expenses $ 1,342 Deferred revenue 969 Income taxes payable 23 Total liabilities $ 2,334 |
ACQUISITIONS (Tables)
ACQUISITIONS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
ITJobBoard and onTargetJobs [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The assets and liabilities recognized as of the acquisition dates for onTargetjobs and The IT Job Board include (in thousands): onTargetjobs and The IT Job Board Acquisitions Assets: Cash and cash equivalents $ 8,200 Accounts receivable 7,558 Acquired intangible assets 38,410 Goodwill 32,935 Fixed assets 5,688 Other assets 1,195 Assets acquired 93,986 Liabilities: Accounts payable and accrued expenses $ 9,577 Deferred revenue 5,465 Deferred income taxes 7,160 Fair value of contingent consideration 4,474 Liabilities assumed 26,676 Net Assets Acquired $ 67,310 |
OilCareers [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The final valuation of assets and liabilities recognized as of the acquisition date for OilCareers include (in thousands): OilCareers Acquisition Assets: Accounts receivable $ 1,082 Acquired intangible assets 14,508 Goodwill 15,078 Fixed assets 98 Other assets 196 Assets acquired 30,962 Liabilities: Accounts payable and accrued expenses $ 567 Deferred revenue 1,081 Deferred income taxes 2,916 Liabilities assumed 4,564 Net Assets Acquired $ 26,398 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | The assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): December 31, 2014 Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Contingent consideration to be paid in cash for the acquisitions $ — $ — $ 3,883 $ 3,883 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Reconciliations of liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) are as follows (in thousands): For the year ended December 31, 2015 2014 2013 Contingent consideration for acquisitions Balance at beginning of period $ 3,883 $ 9,793 $ 9,756 Additions for acquisitions — — 4,474 Cash payments (3,829 ) (5,825 ) (5,000 ) Change in estimates included in earnings — 153 197 Change due to foreign exchange rate changes (54 ) (238 ) 366 Balance at end of period $ — $ 3,883 $ 9,793 |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Fixed assets, net consist of the following as of December 31, 2015 and 2014 (in thousands): 2015 2014 Computer equipment and software $ 16,817 $ 21,152 Furniture and fixtures 3,424 3,592 Leasehold improvements 3,624 2,095 Capitalized website development costs 14,816 12,900 38,681 39,739 Less: Accumulated depreciation and amortization (22,832 ) (23,673 ) Fixed assets, net $ 15,849 $ 16,066 |
ACQUIRED INTANGIBLE ASSETS, N30
ACQUIRED INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | Below is a summary of the major acquired intangible assets and the weighted-average amortization period for the acquired identifiable intangible assets (in thousands): As of and for the year ended December 31, 2015 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Acquired Intangible Assets, Net Weighted- Average Amortization Period Technology $ 10,308 $ (8,831 ) $ (615 ) $ 862 3.8 years Trademarks and brand names—Dice 39,000 — — 39,000 Indefinite Trademarks and brand names—Other 23,419 (13,156 ) (2,238 ) 8,025 6.1 years Customer lists 63,373 (42,808 ) (5,068 ) 15,497 5.5 years Candidate and content database 24,888 (22,088 ) (892 ) 1,908 2.4 years Acquired intangible assets, net $ 160,988 $ (86,883 ) $ (8,813 ) $ 65,292 As of and for the year ended December 31, 2014 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Accumulated Impairment Acquired Intangible Assets, Net Weighted- Average Amortization Period Technology $ 25,194 $ (20,481 ) $ (211 ) $ (1,374 ) $ 3,128 3.5 years Trademarks and brand names—Dice 39,000 — — — 39,000 Indefinite Trademarks and brand names—Other 26,889 (12,802 ) (855 ) (1,929 ) 11,303 6.1 years Customer lists 69,116 (43,774 ) (1,817 ) (3,281 ) 20,244 5.5 years Candidate and content database 44,670 (36,371 ) 27 (656 ) 7,670 2.7 years Order backlog 2,718 (2,718 ) — — — 0.5 years Acquired intangible assets, net $ 207,587 $ (116,146 ) $ (2,856 ) $ (7,240 ) $ 81,345 |
Schedule of Estimated Future Amortization Expense | Based on the carrying value of the acquired finite-lived intangible assets recorded as of December 31, 2015 , and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): 2016 $ 7,424 2017 4,484 2018 3,946 2019 3,641 2020 3,261 2021 and thereafter 3,536 Total $ 26,292 |
INDEBTEDNESS (Tables)
INDEBTEDNESS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | The amounts borrowed as of December 31, 2015 and December 31, 2014 are as follows (dollars in thousands): December 31, December 31, Amounts borrowed: Term loan facility $ — $ 47,500 Revolving credit facility 101,000 63,000 Total borrowed $ 101,000 $ 110,500 Available to be borrowed under revolving facility $ 149,000 $ 137,000 Interest rates: LIBOR rate loans: Interest margin 2.00 % 2.00 % Actual interest rates 2.25 % 2.19 % |
Schedule of Maturities of Long-term Debt [Table Text Block] |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments | The Company leases equipment and office space under operating leases expiring at various dates through December 2025. Future minimum lease payments under non-cancellable operating leases as of December 31, 2015 are as follows (in thousands): 2016 $ 4,182 2017 3,802 2018 3,806 2019 3,564 2020 3,122 2021 and thereafter 7,206 Total minimum payments $ 25,682 |
EQUITY TRANSACTIONS (Tables)
EQUITY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |
Class of Treasury Stock [Table Text Block] | The following table summarizes the Stock Repurchase Plans approved by the board of directors: III IV V VI Approval Date January 2013 December 2013 December 2014 December 2015 Authorized Repurchase Amount of Common Stock $50 million $50 million $50 million $50 million Effective Dates April 2013 to December 2013 December 2013 to December 2014 December 2014 to December 2015 December 2015 to December 2016 |
Schedule of Repurchase Agreements [Table Text Block] | During the years ended December 31, 2015 , 2014 and 2013 purchases of the Company’s common stock pursuant to Stock Repurchase Plans were as follows: Period Total Number of Shares Purchased Average Price Paid per Share Approximate Dollar Value of Shares Purchased Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs Year Ended December 31, 2015 4,661,528 $ 8.38 $ 39,075,000 $ 47,629,000 Year Ended December 31, 2014 4,265,895 7.61 32,455,000 50,000,000 Year Ended December 31, 2013 6,561,747 8.45 55,416,000 48,849,000 |
COMPREHENSIVE INCOME (Tables)
COMPREHENSIVE INCOME (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated other comprehensive income (loss), net consists of the following components, net of tax (in thousands): Year ended December 31, 2015 2014 2013 Unrealized gains (losses) on securities: Balance at beginning of year $ 3 $ 3 $ 9 Unrealized losses for the year, net of tax (3 ) — (6 ) Balance at end of year $ — $ 3 $ 3 Foreign currency translation: Balance at beginning of year $ (13,909 ) $ (6,117 ) $ (9,303 ) Translation adjustments (6,559 ) (7,792 ) 3,186 Balance at end of year $ (20,468 ) $ (13,909 ) $ (6,117 ) Total: Balance at beginning of year $ (13,906 ) $ (6,114 ) $ (9,294 ) Total adjustments for the year (6,562 ) (7,792 ) 3,180 Balance at end of year $ (20,468 ) $ (13,906 ) $ (6,114 ) |
STOCK BASED COMPENSATION (Table
STOCK BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Schedule of Nonvested Share Activity | A summary of the status of restricted stock awards as of December 31, 2015 , 2014 , and 2013 and the changes during the periods then ended is presented below: Year Ended December 31, 2015 2014 2013 Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Non-vested at beginning of the period 1,786,581 $ 8.45 1,560,375 $ 9.81 1,305,369 $ 10.09 Granted—Restricted Stock 1,261,600 $ 8.83 1,114,700 $ 7.39 1,116,000 $ 9.67 Forfeited during the period (245,312 ) $ 8.34 (288,450 ) $ 8.72 (437,813 ) $ 9.99 Vested during the period (680,644 ) $ 8.91 (600,044 ) $ 9.87 (423,181 ) $ 10.15 Non-vested at end of period 2,122,225 $ 8.54 1,786,581 $ 8.45 1,560,375 $ 9.81 |
Schedule of Status of Options Granted | A summary of the status of options granted as of December 31, 2015 , 2014 , and 2013 , and the changes during the periods then ended is presented below: Year Ended December 31, 2015 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 4,667,738 $ 6.14 $ 19,357,512 Exercised (1,802,913 ) $ 3.92 $ 9,162,469 Forfeited (191,313 ) $ 10.76 — Options outstanding at December 31 2,673,512 $ 7.46 $ 5,485,248 Exercisable at December 31 2,037,318 $ 7.19 $ 4,832,280 Options expected to vest at December 31 625,741 $ 8.31 Year Ended December 31, 2014 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 7,536,601 $ 5.53 $ 17,493,907 Granted 659,500 $ 7.32 — Exercised (3,126,522 ) $ 4.51 $ 13,035,677 Forfeited (401,841 ) $ 9.33 — Options outstanding at December 31 4,667,738 $ 6.14 $ 19,357,512 Exercisable at December 31 3,513,920 $ 5.43 $ 17,239,884 Year Ended December 31, 2013 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 8,780,400 $ 4.67 $ 41,236,574 Granted 1,087,000 $ 9.59 $ — Exercised (1,688,079 ) $ 1.99 $ 12,042,458 Forfeited (642,720 ) $ 9.90 — Options outstanding at December 31 7,536,601 $ 5.53 $ 17,493,907 Exercisable at December 31 6,275,243 $ 4.77 $ 17,413,337 |
Schedule of Exercise Price Range | The following table summarizes information about options outstanding as of December 31, 2015 : Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable (in years) $ 1.00 - $ 3.99 168,000 0.1 168,000 $ 4.00 - $ 5.99 325,070 0.9 325,070 $ 6.00 - $ 8.99 1,461,604 3.2 1,051,036 $ 9.00 - $ 14.50 718,838 4.0 493,212 2,673,512 2,037,318 |
PSU [Domain] | |
Equity [Abstract] | |
Schedule of Valuation Assumptions | The fair value of PSUs is measured using the Monte Carlo pricing model using the following assumptions: Year Ended December 31, 2015 Weighted average fair value of PSUs granted $ 9.25 Dividend yield — % Risk free interest rate 1.1 % Expected volatility 33.6 % |
Equity Option [Member] | |
Equity [Abstract] | |
Schedule of Valuation Assumptions | Year Ended December 31, 2014 2013 The weighted average fair value of options granted $ 2.62 $ 3.51 Dividend yield — % — % Weighted average risk free interest rate 1.56 % 1.03 % Weighted average expected volatility 40.16 % 42.29 % Expected life (in years) 4.6 4.6 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax assets (liabilities) included in the balance sheet as of December 31, 2015 and 2014 are as follows (in thousands): |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Tax expense (benefit) for the years ended December 31, 2015 , 2014 and 2013 is as follows (in thousands): 2015 2014 2013 Current income tax expense (benefit): Federal $ 10,201 $ 13,184 $ 16,372 State 1,491 1,948 1,511 Foreign 3,500 3,753 (2,528 ) Current income tax expense (benefit) 15,192 18,885 15,355 Deferred income tax expense (benefit): Federal 998 (1,048 ) (4,735 ) State 405 (448 ) (350 ) Foreign (2,586 ) (2,152 ) 779 Deferred income tax expense (benefit) (1,183 ) (3,648 ) (4,306 ) Income tax expense $ 14,009 $ 15,237 $ 11,049 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the federal statutory tax rate to the effective tax rate on continuing operations applicable to income before income tax expense (benefit) follows: Year Ended December 31, 2015 2014 2013 Federal statutory rate 35.0 % 35.0 % 35.0 % Permanent items excluding nondeductible impairment 0.6 % 0.8 % 0.8 % Nondeductible impairment 302.5 % — % — % State taxes, net of federal effect 47.2 % 2.4 % 4.0 % Difference between foreign and U.S. rates 77.8 % (1.7 )% (0.5 )% Change in unrecognized tax benefits 1.5 % 1.8 % 1.1 % Recognition of tax loss carryforwards — % (4.3 )% — % Other (3.9 )% 1.6 % 0.1 % Effective tax rate 460.7 % 35.6 % 40.5 % |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | Following is a reconciliation of the amounts of unrecognized tax benefits for the year ended December 31, 2015 , 2014 and 2013 (in thousands): 2015 2014 2013 Unrecognized tax benefits—beginning of period $ 3,122 $ 2,359 $ 2,191 Gross increases in tax positions related to current year 169 608 453 Gross increases in tax positions related to prior year 76 201 233 Settlements with taxing authorities — — (301 ) Lapse of statute of limitations (378 ) (46 ) (217 ) Unrecognized tax benefits—end of period $ 2,989 $ 3,122 $ 2,359 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following table shows the segment information (in thousands): 2015 2014 2013 By Segment: Revenues: Tech & Clearance $ 138,553 $ 133,609 $ 130,969 Finance 36,408 36,661 34,997 Energy 21,036 30,449 23,503 Healthcare 30,762 26,913 5,563 Hospitality 15,954 13,656 1,389 Corporate & Other 17,056 21,327 17,061 Total revenues $ 259,769 $ 262,615 $ 213,482 Depreciation: Tech & Clearance $ 6,495 $ 6,280 $ 5,254 Finance 548 578 523 Energy 192 178 119 Healthcare 1,599 2,639 729 Hospitality 175 261 45 Corporate & Other 289 1,008 1,395 Total depreciation $ 9,298 $ 10,944 $ 8,065 Amortization: Tech & Clearance $ 3,460 $ 3,838 $ 1,703 Finance 38 76 425 Energy 6,211 5,767 3,100 Healthcare 1,758 3,665 1,285 Hospitality 1,930 2,273 389 Corporate & Other 497 638 2,434 Total amortization $ 13,894 $ 16,257 $ 9,336 2015 2014 2013 Operating income (loss): Tech & Clearance $ 49,888 $ 48,441 $ 59,526 Finance 7,419 6,523 6,790 Energy (36,727 ) 6,214 6,275 Healthcare (150 ) (4,817 ) (4,773 ) Hospitality 4,917 2,258 (1,036 ) Corporate & Other (18,992 ) (12,015 ) (37,576 ) Operating income 6,355 46,604 29,206 Interest expense (3,289 ) (3,744 ) (1,906 ) Interest income — — 30 Other income (expense) (25 ) (11 ) (35 ) Income before income taxes $ 3,041 $ 42,849 $ 27,295 Capital expenditures: Tech & Clearance $ 5,652 $ 5,611 $ 8,183 Finance 608 671 314 Energy 354 157 403 Healthcare 2,350 1,548 701 Hospitality 66 42 — Corporate & Other 208 513 1,527 Total capital expenditures $ 9,238 $ 8,542 $ 11,128 By Geography: Revenues: United States $ 185,847 $ 187,427 $ 169,662 EMEA (1) 46,139 52,446 33,651 APAC and Canada (2) 27,783 22,742 10,169 Non-United States 73,922 75,188 43,820 Total revenues $ 259,769 $ 262,615 $ 213,482 (1) Europe, the Middle East and Africa (“EMEA”) (2) Asia-Pacific (“APAC”) December 31, December 31, December 31, Total assets: Tech & Clearance $ 177,519 $ 185,547 $ 180,366 Finance 75,191 69,960 89,213 Energy 34,406 85,042 52,374 Healthcare 19,669 20,794 28,679 Hospitality 38,979 33,742 38,600 Corporate & Other 24,735 28,871 31,409 Total assets $ 370,499 $ 423,956 $ 420,641 |
Schedule of Goodwill [Table Text Block] | The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2015 and 2014 and the changes in goodwill for the years ended (in thousands): Tech & Clearance Finance Energy Healthcare Hospitality Corporate & Other Total Goodwill at January 1, 2014 Goodwill $ 96,519 $ 63,467 $ 35,104 $ 7,714 $ 17,456 $ 24,871 $ 245,131 Accumulated impairment losses — (7,213 ) — (1,445 ) — (6,283 ) (14,941 ) $ 96,519 $ 56,254 $ 35,104 $ 6,269 $ 17,456 $ 18,588 $ 230,190 Goodwill acquired during the year — — 15,078 — — — 15,078 Foreign currency translation adjustment (573 ) (2,781 ) 5 — (1,585 ) (1,078 ) (6,012 ) Goodwill at December 31, 2014 Goodwill $ 95,946 $ 60,686 $ 50,187 $ 7,714 $ 15,871 $ 23,793 $ 254,197 Accumulated impairment losses — (7,213 ) — (1,445 ) — (6,283 ) (14,941 ) $ 95,946 $ 53,473 $ 50,187 $ 6,269 $ 15,871 $ 17,510 $ 239,256 Impairment losses — — (34,818 ) — — — (34,818 ) Foreign currency translation adjustment (423 ) (2,058 ) — — (2,559 ) (800 ) (5,840 ) Goodwill at December 31, 2015 Goodwill $ 95,523 $ 58,628 $ 50,187 $ 7,714 $ 13,312 $ 22,993 $ 248,357 Accumulated impairment losses — (7,213 ) (34,818 ) (1,445 ) — (6,283 ) (49,759 ) $ 95,523 $ 51,415 $ 15,369 $ 6,269 $ 13,312 $ 16,710 $ 198,598 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): 2015 2014 2013 Income (loss) from continuing operations—basic and diluted $ (10,968 ) $ 27,612 $ 16,246 Weighted-average shares outstanding—basic 51,402 52,328 56,473 Add shares issuable upon exercise of stock options — 2,082 3,003 Weighted-average shares outstanding—diluted 51,402 54,410 59,476 Basic earnings (loss) per share $ (0.21 ) $ 0.53 $ 0.29 Diluted earnings (loss) per share $ (0.21 ) $ 0.51 $ 0.27 |
QUARTERLY RESULTS OF OPERATIO39
QUARTERLY RESULTS OF OPERATIONS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | The following is a summary of unaudited quarterly results of operations for 2015 and 2014 : For the Three Months Ended March 31 June 30 September 30 December 31 (in thousands, except per share amounts) 2015 Revenues $ 63,770 $ 65,802 $ 65,138 $ 65,059 Total operating expenses 54,610 55,286 54,180 89,338 Operating income (loss) $ 9,160 $ 10,516 $ 10,958 $ (24,279 ) [1] Net income (loss) $ 5,092 $ 5,678 $ 6,511 $ (28,249 ) Basic earnings (loss) per common share $ 0.10 $ 0.11 $ 0.13 $ (0.56 ) [2] Diluted earnings (loss) per common share $ 0.09 $ 0.11 $ 0.12 $ (0.56 ) 2014 Revenues $ 60,690 $ 66,544 $ 67,615 $ 67,766 Total operating expenses 52,814 53,556 54,183 55,458 Operating income $ 7,876 $ 12,988 $ 13,432 $ 12,308 Net income $ 4,395 $ 7,208 $ 9,493 $ 6,516 Basic earnings per common share $ 0.08 $ 0.14 $ 0.18 $ 0.13 Diluted earnings per common share $ 0.08 $ 0.13 $ 0.18 $ 0.12 ____________________ [1] Impairment of goodwill of $34.8 million was recorded during the three months ended December 31, 2015 related to the Energy segment. [2] Due to rounding, the sum of the quarters may not equal the full year amount. |
SCHEDULE II CONSOLIDATED VALU40
SCHEDULE II CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Summary of Valuation Allowance [Table Text Block] | Column A Column B Column C Column D Column E Balance at Beginning of Period Charged to Income Deductions (1) Balance at End of Period Description Reserves Deducted From Assets to Which They Apply: Reserve for uncollectible accounts receivable: Year ended December 31, 2013 $ 2,095 $ 1,892 $ (1,268 ) $ 2,719 Year ended December 31, 2014 2,719 1,035 (866 ) 2,888 Year ended December 31, 2015 2,888 1,718 (1,661 ) 2,945 Reserve for deferred tax assets: Year ended December 31, 2013 $ 807 $ (807 ) $ — $ — Year ended December 31, 2014 — 1,793 — 1,793 Year ended December 31, 2015 1,793 (47 ) — 1,746 ____________________ (1) Includes an adjustment for changes in exchange rates during the year |
SIGNIFICANT ACCOUNTING POLICI41
SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Other Significant Noncash Transactions [Line Items] | |||
Interest Paid | $ 2,937 | $ 3,420 | $ 1,615 |
Taxes paid | 6,853 | 16,513 | 21,395 |
Contingent consideration to be paid in cash for acquisitions | 0 | 0 | 4,474 |
Capital Expenditures on fixed assets included in accounts payable and accrued expenses | 431 | 284 | 510 |
Share repurchases included in accounts payable and accrued expenses | 863 | 0 | 553 |
Advertising Expense | $ 33,200 | $ 29,900 | $ 31,100 |
ASSETS HELD FOR SALE (Details)
ASSETS HELD FOR SALE (Details) - Slashdot Media [Domain] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Accounts receivable, net of allowance for doubtful accounts of $58 | $ 3,625 | ||
Other assets--current | 29 | ||
Fixed assets, net | 594 | ||
Other assets--non-current | 17 | ||
Total assets | 4,265 | ||
Accounts payable and accrued expenses | 1,342 | ||
Deferred revenue | 969 | ||
Income taxes payable | 23 | ||
Total liabilities | 2,334 | ||
Disposal Group, Including Discontinued Operation, Operating Income (Loss) | 1,100 | $ 4,300 | $ 16,100 |
Disposal Group, Including Discontinued Operations, Allowance for Doubtful Accounts | 58 | ||
Disposal Group, Including Discontinued Operation, Revenue | 14,800 | $ 18,200 | $ 15,900 |
Proceeds from Divestiture of Businesses | 2,800 | ||
Divestiture of business selling costs | $ 800 |
ACQUISITIONS (Details)
ACQUISITIONS (Details) $ / shares in Units, $ in Thousands, £ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2015USD ($)$ / shares | Sep. 30, 2015USD ($)$ / shares | Jun. 30, 2015USD ($)$ / shares | Mar. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares | Sep. 30, 2014USD ($)$ / shares | Jun. 30, 2014USD ($)$ / shares | Mar. 31, 2014USD ($)$ / shares | Dec. 31, 2013USD ($) | Sep. 30, 2013USD ($) | Sep. 30, 2013GBP (£) | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares | Dec. 31, 2013USD ($)$ / shares | |
Business Acquisition [Line Items] | ||||||||||||||
Payments for acquisitions, net of cash acquired | $ 0 | $ 27,001 | $ 58,603 | |||||||||||
Debt Borrowed for Acquisition | 105,000 | |||||||||||||
Net assets acquired based on fair values: | ||||||||||||||
Goodwill | $ 198,598 | $ 239,256 | $ 230,190 | 198,598 | 239,256 | 230,190 | ||||||||
Net income (loss) | $ (28,249) | $ 6,511 | $ 5,678 | $ 5,092 | $ 6,516 | $ 9,493 | $ 7,208 | $ 4,395 | (10,968) | 27,612 | 16,246 | |||
Amortization of intangible assets | $ 13,894 | $ 16,257 | $ 9,336 | |||||||||||
Basic earnings per share (in dollars per share) | $ / shares | $ (0.56) | $ 0.13 | $ 0.11 | $ 0.10 | $ 0.13 | $ 0.18 | $ 0.14 | $ 0.08 | $ (0.21) | $ 0.53 | $ 0.29 | |||
OilCareers [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Cash consideration paid | $ 300 | $ 26,100 | ||||||||||||
Net assets acquired based on fair values: | ||||||||||||||
Business Combination, Acquired Receivables, Fair Value | $ 1,082 | $ 1,082 | ||||||||||||
Acquired intangible assets | 14,508 | 14,508 | ||||||||||||
Goodwill | 15,078 | 15,078 | ||||||||||||
Fixed Assets | 98 | 98 | ||||||||||||
Other Assets | 196 | 196 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 30,962 | 30,962 | ||||||||||||
Accounts payable and accrued expenses | 567 | 567 | ||||||||||||
Deferred Revenue | 1,081 | 1,081 | ||||||||||||
Deferred Income Taxes and Other Tax Liabilities, Noncurrent | 2,916 | 2,916 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 4,564 | 4,564 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 26,398 | 26,398 | ||||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 1,200 | 1,200 | ||||||||||||
Business Combination, Acquired Receivables, Fair Value | 1,082 | 1,082 | ||||||||||||
onTargetjobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Business Acquisition, Transaction Costs | 1,200 | $ 1,200 | ||||||||||||
Cash consideration paid | $ 600 | |||||||||||||
Payments for acquisitions, net of cash acquired | 46,300 | |||||||||||||
Debt Borrowed for Acquisition | 54,000 | |||||||||||||
Net assets acquired based on fair values: | ||||||||||||||
Business Combination, Acquired Receivables, Fair Value | 6,300 | 6,300 | ||||||||||||
Goodwill | 23,800 | 23,800 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 27,600 | 27,600 | ||||||||||||
Business Combination, Acquired Receivables, Fair Value | 6,300 | 6,300 | ||||||||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 6,300 | 6,300 | ||||||||||||
The IT Job Board [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Payments for acquisitions, net of cash acquired | $ 12,200 | £ 8 | ||||||||||||
Other Payments to Acquire Businesses | 4,600 | £ 3 | ||||||||||||
Line of Credit Facility, Increase (Decrease), Net | 15,000 | |||||||||||||
Net assets acquired based on fair values: | ||||||||||||||
Business Combination, Acquired Receivables, Fair Value | 1,200 | |||||||||||||
Goodwill | 9,100 | |||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 10,800 | |||||||||||||
Business Combination, Acquired Receivables, Fair Value | 1,200 | |||||||||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 1,200 | |||||||||||||
ITJobBoard and onTargetJobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Cash | 8,200 | 8,200 | ||||||||||||
Net assets acquired based on fair values: | ||||||||||||||
Business Combination, Acquired Receivables, Fair Value | 7,558 | 7,558 | ||||||||||||
Acquired intangible assets | 38,410 | 38,410 | ||||||||||||
Goodwill | 32,935 | 32,935 | ||||||||||||
Fixed Assets | 5,688 | 5,688 | ||||||||||||
Other Assets | 1,195 | 1,195 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 93,986 | 93,986 | ||||||||||||
Accounts payable and accrued expenses | 9,577 | 9,577 | ||||||||||||
Deferred Revenue | 5,465 | 5,465 | ||||||||||||
Deferred Income Tax Liabilities, Net | 7,160 | 7,160 | ||||||||||||
Business Combination, Contingent Consideration, Liability | 4,474 | 4,474 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 26,676 | 26,676 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 67,310 | 67,310 | ||||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 3,900 | $ 3,900 | ||||||||||||
Business Combination, Acquired Receivables, Fair Value | $ 7,558 | $ 7,558 | ||||||||||||
Technology Equipment [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 9 months | 3 years 6 months | ||||||||||||
Technology Equipment [Member] | OilCareers [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 months 18 days | |||||||||||||
Technology Equipment [Member] | ITJobBoard and onTargetJobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years | |||||||||||||
Trademarks, Other [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 1 month | 6 years 1 month | ||||||||||||
Trademarks, Other [Member] | OilCareers [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years | |||||||||||||
Trademarks, Other [Member] | ITJobBoard and onTargetJobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 11 months | |||||||||||||
Customer Lists [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 6 months | 5 years 6 months | ||||||||||||
Customer Lists [Member] | OilCareers [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | |||||||||||||
Customer Lists [Member] | ITJobBoard and onTargetJobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 years | |||||||||||||
Candidate Database [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years 5 months | 2 years 8 months | ||||||||||||
Candidate Database [Member] | OilCareers [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years | |||||||||||||
Candidate Database [Member] | ITJobBoard and onTargetJobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years 9 months | |||||||||||||
Order Backlog [Member] | ITJobBoard and onTargetJobs [Member] | ||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 months |
FAIR VALUE MEASUREMENTS (Detail
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Goodwill | $ 198,598 | $ 198,598 | $ 239,256 | $ 230,190 |
Impairment of goodwill | $ 34,800 | $ 34,818 | 0 | 7,728 |
Discount rate used to fair value the expected payments | 2.00% | 2.00% | ||
Energy [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Goodwill | $ 15,369 | $ 15,369 | $ 50,187 | $ 35,104 |
Impairment of goodwill | $ 34,818 |
FAIR VALUE MEASUREMENTS (Fair V
FAIR VALUE MEASUREMENTS (Fair Value on a Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] $ in Thousands | Dec. 31, 2015USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Contingent consideration to be paid for acquisitions | $ 3,883 |
Fair Value, Inputs, Level 1 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Contingent consideration to be paid for acquisitions | 0 |
Fair Value, Inputs, Level 2 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Contingent consideration to be paid for acquisitions | 0 |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Contingent consideration to be paid for acquisitions | $ 3,883 |
FAIR VALUE MEASUREMENTS (Unobse
FAIR VALUE MEASUREMENTS (Unobservable Level 3 Inputs) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value Disclosures [Abstract] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | $ 0 | $ 0 | $ 4,474 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance at beginning period | 3,883 | 9,793 | 9,756 |
Cash payments | (3,829) | (5,825) | (5,000) |
Change in estimates included in earnings | 0 | 153 | 197 |
Change due to foreign exchange rate changes | 54 | (238) | 366 |
Balance at end of period | $ 0 | $ 3,883 | $ 9,793 |
FIXED ASSETS (Details)
FIXED ASSETS (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 38,681 | $ 39,739 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (22,832) | (23,673) |
Property, Plant and Equipment, Net | 15,849 | 16,066 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 16,817 | 21,152 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 3,424 | 3,592 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 3,624 | 2,095 |
Software Development [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 14,816 | $ 12,900 |
ACQUIRED INTANGIBLE ASSETS, N48
ACQUIRED INTANGIBLE ASSETS, NET (Summary of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | $ 160,988 | $ 207,587 |
Acquired intangible assets, net | 65,292 | 81,345 |
Finite-Lived Intangible Assets, Accumulated Amortization | 86,883 | 116,146 |
Finite-Lived Intangible Assets, Translation Adjustments | $ 8,813 | 2,856 |
Impairment of Intangible Assets, Finite-lived | $ 7,240 | |
Technology Equipment [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 9 months | 3 years 6 months |
Finite-lived Intangible Assets Acquired | $ 10,308 | $ 25,194 |
Acquired intangible assets, net | 862 | 3,128 |
Finite-Lived Intangible Assets, Accumulated Amortization | 8,831 | 20,481 |
Finite-Lived Intangible Assets, Translation Adjustments | $ 615 | 211 |
Impairment of Intangible Assets, Finite-lived | $ 1,374 | |
Trademarks, Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 1 month | 6 years 1 month |
Finite-lived Intangible Assets Acquired | $ 23,419 | $ 26,889 |
Acquired intangible assets, net | 8,025 | 11,303 |
Finite-Lived Intangible Assets, Accumulated Amortization | 13,156 | 12,802 |
Finite-Lived Intangible Assets, Translation Adjustments | $ 2,238 | 855 |
Impairment of Intangible Assets, Finite-lived | $ 1,929 | |
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 6 months | 5 years 6 months |
Finite-lived Intangible Assets Acquired | $ 63,373 | $ 69,116 |
Acquired intangible assets, net | 15,497 | 20,244 |
Finite-Lived Intangible Assets, Accumulated Amortization | 42,808 | 43,774 |
Finite-Lived Intangible Assets, Translation Adjustments | $ 5,068 | 1,817 |
Impairment of Intangible Assets, Finite-lived | $ 3,281 | |
Candidate Database [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years 5 months | 2 years 8 months |
Finite-lived Intangible Assets Acquired | $ 24,888 | $ 44,670 |
Acquired intangible assets, net | 1,908 | 7,670 |
Finite-Lived Intangible Assets, Accumulated Amortization | 22,088 | 36,371 |
Finite-Lived Intangible Assets, Translation Adjustments | 892 | (27) |
Impairment of Intangible Assets, Finite-lived | 656 | |
Order Backlog [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | 2,718 | |
Acquired intangible assets, net | 0 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 2,718 | |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | |
Impairment of Intangible Assets, Finite-lived | 0 | |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived Intangible Assets Acquired | 39,000 | 39,000 |
Acquired intangible assets, net | 39,000 | 39,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 |
Finite-Lived Intangible Assets, Translation Adjustments | $ 0 | 0 |
Impairment of Intangible Assets, Finite-lived | $ 0 | |
OilCareers [Member] | Technology Equipment [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 months 18 days | |
OilCareers [Member] | Trademarks, Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years | |
OilCareers [Member] | Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | |
OilCareers [Member] | Candidate Database [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years |
ACQUIRED INTANGIBLE ASSETS, N49
ACQUIRED INTANGIBLE ASSETS, NET (Estimated Future Amortization Expense) (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
2,016 | $ 7,424 |
2,017 | 4,484 |
2,018 | 3,946 |
2,019 | 3,641 |
2,020 | 3,261 |
2021 and thereafter | 3,536 |
Finite-Lived Intangible Assets, Net | $ 26,292 |
INDEBTEDNESS (Details)
INDEBTEDNESS (Details) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Debt Instrument [Line Items] | |||
Ratio of Indebtedness to Net Capital, Pro forma basis | 2 | ||
restricted payments under the Credit Agreement | $ 5,000 | ||
Debt Borrowed for Acquisition | 105,000 | ||
Total borrowed | $ 101,000 | $ 110,500 | |
LIBOR [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 2.00% | 2.00% | |
Credit Agreement [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance costs | $ 646 | ||
Maximum available to be borrowed under revolving facility | 250,000 | ||
Previous Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Face amount on debt | $ 65,000 | ||
Debt issuance costs | 973 | ||
Previous Credit Facility [Member] | LIBOR [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 1.75% | ||
Previous Credit Facility [Member] | LIBOR [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 2.50% | ||
Previous Credit Facility [Member] | Base Rate [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 0.75% | ||
Previous Credit Facility [Member] | Base Rate [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 1.50% | ||
Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum available to be borrowed under revolving facility | 149,000 | $ 137,000 | |
Total borrowed | $ 101,000 | $ 63,000 | |
Revolving Credit Facility [Member] | Previous Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum available to be borrowed under revolving facility | $ 200,000 | ||
Term Facility [Member] | Previous Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum available to be borrowed under revolving facility | $ 50,000 |
INDEBTEDNESS (Schedule of Credi
INDEBTEDNESS (Schedule of Credit Agreement) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Total borrowed | $ 101,000 | $ 110,500 |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Maximum available to be borrowed under revolving facility | 250,000 | |
Term Facility [Member] | ||
Debt Instrument [Line Items] | ||
Total borrowed | 0 | 47,500 |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Total borrowed | 101,000 | 63,000 |
Maximum available to be borrowed under revolving facility | $ 149,000 | $ 137,000 |
LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 2.00% | 2.00% |
Actual interest rates | 2.25% | 2.19% |
COMMITMENTS AND CONTINGENCIES52
COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,016 | $ 4,182 | ||
2,017 | 3,802 | ||
2,018 | 3,806 | ||
2,019 | 3,564 | ||
2,020 | 3,122 | ||
2021 and thereafter | 7,206 | ||
Total minimum payments | 25,682 | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Rent expense | $ 4,500 | $ 4,100 | $ 3,200 |
EQUITY TRANSACTIONS (Details)
EQUITY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Not Settled, Amount | $ 900 | $ 0 | |
Treasury Stock, Shares, Acquired | 4,661,528 | 4,265,895 | 6,561,747 |
Treasury Stock Acquired, Average Cost Per Share | $ 8.38 | $ 7.61 | $ 8.45 |
Treasury Stock, Value, Acquired, Cost Method | $ 39,075 | $ 32,455 | $ 55,416 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 47,629 | 50,000 | 48,849 |
Stock Repurchase Plan III [Domain] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Authorized Amount | 50,000 | ||
Stock Repurchase Plan IV [Domain] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 50,000 | ||
Stock Repurchase Plan V [Domain] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 50,000 | ||
Stock Repurchase Plan VI [Domain] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 50,000 |
EQUITY TRANSACTIONS Preferred S
EQUITY TRANSACTIONS Preferred Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Equity, Class of Treasury Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 20,000 | 20,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Convertible preferred stock, $.01 par value, authorized 20,000 shares; no shares issued and outstanding | $ 0 | $ 0 |
COMPREHENSIVE INCOME (Details)
COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stockholders' Equity Attributable to Parent | $ 138,613 | $ 177,798 | $ 167,812 | $ 190,638 |
Unrealized losses on investments, net of tax of $0, $0 and ($3) | (3) | 0 | (6) | |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (6,562) | (7,792) | 3,180 | |
Accumulated other comprehensive loss | (20,468) | (13,906) | (6,114) | (9,294) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Unrealized losses on investments, net of tax of $0, $0 and ($3) | (3) | 0 | (6) | |
Accumulated other comprehensive loss | 0 | 3 | 3 | 9 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | (6,559) | (7,792) | 3,186 | |
Accumulated other comprehensive loss | $ (20,468) | $ (13,909) | $ (6,117) | $ (9,303) |
STOCK BASED COMPENSATION (Detai
STOCK BASED COMPENSATION (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,673,512 | 4,667,738 | 7,536,601 | 8,780,400 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 7.46 | $ 6.14 | $ 5.53 | $ 4.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 5,485,248 | $ 19,357,512 | $ 17,493,907 | $ 41,236,574 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 659,500 | 1,087,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 7.32 | $ 9.59 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Intrinsic Value | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (1,802,913) | (3,126,522) | (1,688,079) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 3.92 | $ 4.51 | $ 1.99 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 9,162,469 | $ 13,035,677 | $ 12,042,458 | |
Forfeited, Options | (191,313) | (401,841) | (642,720) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 10.76 | $ 9.33 | $ 9.90 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Total Intrinsic Value | $ 0 | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,037,318 | 3,513,920 | 6,275,243 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 7.19 | $ 5.43 | $ 4.77 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 4,832,280 | $ 17,239,884 | $ 17,413,337 | |
Stock based compensation expense | 10,200,000 | $ 7,500,000 | $ 8,100,000 | |
Unrecognized compensation expense | $ 16,900,000 | |||
Weighted-average period | 1 year 7 months |
STOCK BASED COMPENSATION (Statu
STOCK BASED COMPENSATION (Status of Restricted Stock) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restricted Stock [Member] | |||
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at beginning of the period, Shares | 1,786,581 | 1,560,375 | 1,305,369 |
Granted- Restricted Stock, Shares | 1,261,600 | 1,114,700 | 1,116,000 |
Forfeited during the period, Shares | (245,312) | (288,450) | (437,813) |
Vested during the period, Shares | (680,644) | (600,044) | (423,181) |
Non-vested at end of period, Shares | 2,122,225 | 1,786,581 | 1,560,375 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Non-vested at beginning of the period, Weighted Average Grant Date Fair Value | $ 8.45 | $ 9.81 | $ 10.09 |
Granted- Restricted Stock, Weighted Average Grant Date Fair Value | 8.83 | 7.39 | 9.67 |
Forfeited during the period, Weighted Average Grant Date Fair Value | 8.34 | 8.72 | 9.99 |
Vested during the period, Weighted Average Grant Date Fair Value | 8.91 | 9.87 | 10.15 |
Non-vested at end of period, Weighted Average Grant Date Fair Value | 8.54 | $ 8.45 | $ 9.81 |
Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The weighted average fair value of options granted | $ 9.25 | ||
Dividend yield | 0.00% | ||
Weighted average risk free interest rate | 1.10% | ||
Weighted average expected volatility | 33.60% | ||
Nonvested, Number of Shares [Roll Forward] | |||
Granted- Restricted Stock, Shares | 415,000 |
STOCK BASED COMPENSATION (Fair
STOCK BASED COMPENSATION (Fair Value Assumptions) (Details) - Employee Stock Option [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The weighted average fair value of options granted | $ 2.62 | $ 3.51 | |
Dividend yield | 0.00% | 0.00% | |
Weighted average risk free interest rate | 2.00% | 1.00% | |
Weighted average expected volatility | 40.00% | 42.00% | |
Expected life | 4 years 7 months 5 days | 4 years 7 months 5 days |
STOCK BASED COMPENSATION (Summa
STOCK BASED COMPENSATION (Summary of Status of Options) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Options, Outstanding [Roll Forward] | |||
Options outstanding at beginning of period, Options | 4,667,738 | 7,536,601 | 8,780,400 |
Granted, Options | 659,500 | 1,087,000 | |
Exercised, Options | (1,802,913) | (3,126,522) | (1,688,079) |
Forfeited, Options | (191,313) | (401,841) | (642,720) |
Options outstanding at end of period, Options | 2,673,512 | 4,667,738 | 7,536,601 |
Exercisable at end of period, Options | 2,037,318 | 3,513,920 | 6,275,243 |
Options expected to vest December 31 | 625,741 | ||
Weighted Average Exercise Price [Roll Forward] | |||
Options outstanding at beginning of period, Weighted Average Exercise Price | $ 6.14 | $ 5.53 | $ 4.67 |
Granted, Weighted Average Exercise Price | 7.32 | 9.59 | |
Exercised, Weighted Average Exercise Price | 3.92 | 4.51 | 1.99 |
Forfeited, Weighted Average Exercise Price | 10.76 | 9.33 | 9.90 |
Options outstanding at end of period, Weighted Average Exercise Price | 7.46 | 6.14 | 5.53 |
Exercisable at end of period, Weighted Average Exercise Price | 7.19 | $ 5.43 | $ 4.77 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 8.31 | ||
Aggregate Instrinsic Value [Abstract] | |||
Options outstanding at beginning of period, Aggregate Intrinsic Value | $ 19,357,512 | $ 17,493,907 | $ 41,236,574 |
Exercised, Aggregate Intrinsic Value | 9,162,469 | 13,035,677 | 12,042,458 |
Forfeited, Aggregate Intrinsic Value | 0 | 0 | 0 |
Options outstanding at end of period, Aggregate Intrinsic Value | 5,485,248 | 19,357,512 | 17,493,907 |
Exercisable at end of period, Aggregate Intrinsic Value | $ 4,832,280 | $ 17,239,884 | $ 17,413,337 |
STOCK BASED COMPENSATION (Sum60
STOCK BASED COMPENSATION (Summary of Options Outstanding) (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Options Outstanding | 2,674 |
Weighted Average Remaining Contractual Life | 2 years 5 months |
Number of Exercisable Options | 2,037 |
$1.00 - $3.99 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 1 |
Exercise Price, Upper Limit | $ / shares | $ 3.99 |
Number of Options Outstanding | 168 |
Weighted Average Remaining Contractual Life | 1 month |
Number of Exercisable Options | 168 |
$4.00 - $5.99 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 4 |
Exercise Price, Upper Limit | $ / shares | $ 5.99 |
Number of Options Outstanding | 325 |
Weighted Average Remaining Contractual Life | 11 months |
Number of Exercisable Options | 325 |
$6.00 - $8.99 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 6 |
Exercise Price, Upper Limit | $ / shares | $ 8.99 |
Number of Options Outstanding | 1,462 |
Weighted Average Remaining Contractual Life | 3 years 2 months |
Number of Exercisable Options | 1,051 |
$9.00 - $14.50 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 9 |
Exercise Price, Upper Limit | $ / shares | $ 14.50 |
Number of Options Outstanding | 719 |
Weighted Average Remaining Contractual Life | 4 years |
Number of Exercisable Options | 493 |
STOCK BASED COMPENSATION Stock
STOCK BASED COMPENSATION Stock Options Outstanding (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,673,512 | 4,667,738 | 7,536,601 | 8,780,400 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 7.46 | $ 6.14 | $ 5.53 | $ 4.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 5,485,248 | $ 19,357,512 | $ 17,493,907 | $ 41,236,574 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 659,500 | 1,087,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 7.32 | $ 9.59 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Intrinsic Value | $ 0 | $ 0 | ||
Exercised, Options | (1,802,913) | (3,126,522) | (1,688,079) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 3.92 | $ 4.51 | $ 1.99 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 9,162,469 | $ 13,035,677 | $ 12,042,458 | |
Forfeited, Options | (191,313) | (401,841) | (642,720) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 10.76 | $ 9.33 | $ 9.90 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Total Intrinsic Value | $ 0 | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,037,318 | 3,513,920 | 6,275,243 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 7.19 | $ 5.43 | $ 4.77 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 4,832,280 | $ 17,239,884 | $ 17,413,337 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 8.54 | $ 8.45 | $ 9.81 | $ 10.09 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||||
Impairment of goodwill | $ 34,800,000 | $ 34,818,000 | $ 0 | $ 7,728,000 | |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount | 33,600,000 | ||||
Tax Expense Resulting from Non-Deductible Goodwill | 9,200,000 | ||||
Non-Deductible Impairment Charge attributable to U.S. | 15,300,000 | ||||
U.S. Income Before Taxes excluding Impairment Charge | 34,100,000 | ||||
State Tax Expense excluding Impairment Charge | 1,400,000 | ||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 18,800,000 | ||||
Income Tax Examination, Penalties and Interest Expense | (177,000) | (11,000) | (52,000) | ||
Income (Loss) from Continuing Operations before Income Taxes, Foreign | (15,800,000) | 2,900,000 | (5,700,000) | ||
Non-Deductible Impairment Charge attributable to Foreign Operations | 18,300,000 | ||||
Foreign Income before taxes excluding Impairment Charge | 2,500,000 | ||||
Foreign Tax Expenses excluding Impairment Charge | 914,000 | ||||
Net operating loss carryforward | 523,000 | 523,000 | 1,831,000 | ||
Tax credit carryforward | 1,443,000 | 1,443,000 | 1,467,000 | ||
Less valuation allowance | 1,746,000 | 1,746,000 | 1,793,000 | ||
Undistributed Earnings of Foreign Subsidiaries | 28,000,000 | 28,000,000 | |||
Accrual for unrecognized tax benefits | 3,436,000 | 3,436,000 | 3,392,000 | ||
Unrecognized tax benefits | 2,989,000 | 2,989,000 | 3,122,000 | $ 2,359,000 | $ 2,191,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 447,000 | 447,000 | $ 270,000 | ||
Unrecognized tax benefits to be Recognized | $ 829,000 | $ 829,000 |
INCOME TAXES Income tax expense
INCOME TAXES Income tax expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal | $ 10,201 | $ 13,184 | $ 16,372 |
State | 1,491 | 1,948 | 1,511 |
Foreign | 3,500 | 3,753 | (2,528) |
Current income tax expense (benefit) | 15,192 | 18,885 | 15,355 |
Federal | 998 | (1,048) | (4,735) |
State | 405 | (448) | (350) |
Foreign | (2,586) | (2,152) | 779 |
Deferred income tax expense (benefit) | (1,183) | (3,648) | (4,306) |
Income tax expense | $ 14,009 | $ 15,237 | $ 11,049 |
INCOME TAXES Deferred tax (Deta
INCOME TAXES Deferred tax (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforward | $ 523 | $ 1,831 |
Allowance for doubtful accounts | 671 | 728 |
Provision for accrued expenses and other, net | 2,412 | 1,938 |
Stock based compensation | 4,825 | 4,516 |
Deferred revenue | 173 | 82 |
Tax credit carryforward | 1,443 | 1,467 |
Deferred Tax Assets, Gross | 10,047 | 10,562 |
Less valuation allowance | 1,746 | 1,793 |
Deferred tax asset, net of valuation allowance | 8,301 | 8,769 |
Acquired intangibles | (15,264) | (18,672) |
Depreciation of fixed assets | 3,564 | 1,806 |
Deferred tax liabilities | (18,828) | (20,478) |
Net deferred tax liability | (10,527) | (11,709) |
Deferred income taxes | 322 | 481 |
Deferred income taxes | $ 10,849 | $ 12,190 |
INCOME TAXES Reconciliation of
INCOME TAXES Reconciliation of tax rate (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 35.00% | 35.00% | 35.00% |
Permanent items excluding nondeductible impairment | 0.60% | 0.80% | 0.80% |
Nondeductible impairment | 302.50% | 0.00% | 0.00% |
State taxes, net of federal effect | 47.20% | 2.40% | 4.00% |
Difference between foreign and U.S. rates | 77.80% | (1.70%) | (0.50%) |
Change in unrecognized tax benefits | 1.50% | 1.80% | 1.10% |
Recognition of tax loss carryforwards | 0.00% | (4.30%) | 0.00% |
Other | (3.90%) | 1.60% | 0.10% |
Effective tax rate | 460.70% | 35.60% | 40.50% |
INCOME TAXES Unrecognized tax b
INCOME TAXES Unrecognized tax benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits—beginning of period | $ 3,122 | $ 2,359 | $ 2,191 |
Gross increases in tax positions related to current year | 169 | 608 | 453 |
Gross increases in tax positions related to prior year | 76 | 201 | 233 |
Settlements with taxing authorities | 0 | 0 | (301) |
Lapse of statute of limitations | (378) | (46) | (217) |
Unrecognized tax benefits—end of period | $ 2,989 | $ 3,122 | $ 2,359 |
EMPLOYEE SAVINGS PLAN (Details)
EMPLOYEE SAVINGS PLAN (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $ 1,600 | $ 1,400 | $ 1,200 |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($)segments | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Number of Reportable Segments | segments | 5 | ||||||||||
Revenues | $ 259,769 | $ 262,615 | $ 213,482 | ||||||||
Depreciation | 9,298 | 10,944 | 8,065 | ||||||||
Amortization of intangible assets | 13,894 | 16,257 | 9,336 | ||||||||
Operating income | $ (24,279) | $ 10,958 | $ 10,516 | $ 9,160 | $ 12,308 | $ 13,432 | $ 12,988 | $ 7,876 | 6,355 | 46,604 | 29,206 |
Interest expense | (3,289) | (3,744) | (1,906) | ||||||||
Interest income | 0 | 0 | 30 | ||||||||
Other expense | (25) | (11) | (35) | ||||||||
Income before income taxes | 3,041 | 42,849 | 27,295 | ||||||||
Capital expenditures | 9,238 | 8,542 | 11,128 | ||||||||
Assets | 370,499 | 423,956 | 370,499 | 423,956 | 420,641 | ||||||
United States [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 185,847 | 187,427 | 169,662 | ||||||||
EMEA [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 46,139 | 52,446 | 33,651 | ||||||||
APAC and Canada [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 27,783 | 22,742 | 10,169 | ||||||||
Other than United States [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 73,922 | 75,188 | 43,820 | ||||||||
Tech & Clearance [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 138,553 | 133,609 | 130,969 | ||||||||
Depreciation | 6,495 | 6,280 | 5,254 | ||||||||
Amortization of intangible assets | 3,460 | 3,838 | 1,703 | ||||||||
Operating income | 49,888 | 48,441 | 59,526 | ||||||||
Capital expenditures | 5,652 | 5,611 | 8,183 | ||||||||
Assets | 177,519 | 185,547 | 177,519 | 185,547 | 180,366 | ||||||
Finance Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 36,408 | 36,661 | 34,997 | ||||||||
Depreciation | 548 | 578 | 523 | ||||||||
Amortization of intangible assets | 38 | 76 | 425 | ||||||||
Operating income | 7,419 | 6,523 | 6,790 | ||||||||
Capital expenditures | 608 | 671 | 314 | ||||||||
Assets | 75,191 | 69,960 | 75,191 | 69,960 | 89,213 | ||||||
Energy [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 21,036 | 30,449 | 23,503 | ||||||||
Depreciation | 192 | 178 | 119 | ||||||||
Amortization of intangible assets | 6,211 | 5,767 | 3,100 | ||||||||
Operating income | (36,727) | 6,214 | 6,275 | ||||||||
Capital expenditures | 354 | 157 | 403 | ||||||||
Assets | 34,406 | 85,042 | 34,406 | 85,042 | 52,374 | ||||||
Healthcare Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 30,762 | 26,913 | 5,563 | ||||||||
Depreciation | 1,599 | 2,639 | 729 | ||||||||
Amortization of intangible assets | 1,758 | 3,665 | 1,285 | ||||||||
Operating income | (150) | (4,817) | (4,773) | ||||||||
Capital expenditures | 2,350 | 1,548 | 701 | ||||||||
Assets | 19,669 | 20,794 | 19,669 | 20,794 | 28,679 | ||||||
Hospitality Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 15,954 | 13,656 | 1,389 | ||||||||
Depreciation | 175 | 261 | 45 | ||||||||
Amortization of intangible assets | 1,930 | 2,273 | 389 | ||||||||
Operating income | 4,917 | 2,258 | (1,036) | ||||||||
Capital expenditures | 66 | 42 | 0 | ||||||||
Assets | 38,979 | 33,742 | 38,979 | 33,742 | 38,600 | ||||||
Corporate & Other Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 17,056 | 21,327 | 17,061 | ||||||||
Depreciation | 289 | 1,008 | 1,395 | ||||||||
Amortization of intangible assets | 497 | 638 | 2,434 | ||||||||
Operating income | (18,992) | (12,015) | (37,576) | ||||||||
Capital expenditures | 208 | 513 | 1,527 | ||||||||
Assets | $ 24,735 | $ 28,871 | $ 24,735 | $ 28,871 | $ 31,409 |
SEGMENT INFORMATION (Carrying A
SEGMENT INFORMATION (Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | $ (34,800) | $ (34,818) | $ 0 | $ (7,728) |
Goodwill, Acquired During Period | 15,078 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 239,256 | 230,190 | ||
Foreign currency translation adjustment | (5,840) | (6,012) | ||
Goodwill, Gross | 248,357 | 248,357 | 254,197 | 245,131 |
Goodwill, Impaired, Accumulated Impairment Loss | (49,759) | (49,759) | (14,941) | (14,941) |
Goodwill, ending balance | 198,598 | 198,598 | 239,256 | 230,190 |
Tech & Clearance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | 0 | |||
Goodwill, Acquired During Period | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 95,946 | 96,519 | ||
Foreign currency translation adjustment | (423) | (573) | ||
Goodwill, Gross | 95,523 | 95,523 | 95,946 | 96,519 |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | 0 | 0 |
Goodwill, ending balance | 95,523 | 95,523 | 95,946 | 96,519 |
Finance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | 0 | |||
Goodwill, Acquired During Period | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 53,473 | 56,254 | ||
Foreign currency translation adjustment | (2,058) | (2,781) | ||
Goodwill, Gross | 58,628 | 58,628 | 60,686 | 63,467 |
Goodwill, Impaired, Accumulated Impairment Loss | (7,213) | (7,213) | (7,213) | (7,213) |
Goodwill, ending balance | 51,415 | 51,415 | 53,473 | 56,254 |
Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | (34,818) | |||
Goodwill, Acquired During Period | 15,078 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 50,187 | 35,104 | ||
Foreign currency translation adjustment | 0 | (5) | ||
Goodwill, Gross | 50,187 | 50,187 | 50,187 | 35,104 |
Goodwill, Impaired, Accumulated Impairment Loss | (34,818) | (34,818) | 0 | 0 |
Goodwill, ending balance | 15,369 | 15,369 | 50,187 | 35,104 |
Healthcare Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | 0 | |||
Goodwill, Acquired During Period | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 6,269 | 6,269 | ||
Foreign currency translation adjustment | 0 | 0 | ||
Goodwill, Gross | 7,714 | 7,714 | 7,714 | 7,714 |
Goodwill, Impaired, Accumulated Impairment Loss | (1,445) | (1,445) | (1,445) | (1,445) |
Goodwill, ending balance | 6,269 | 6,269 | 6,269 | 6,269 |
Hospitality Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | 0 | |||
Goodwill, Acquired During Period | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 15,871 | 17,456 | ||
Foreign currency translation adjustment | (2,559) | (1,585) | ||
Goodwill, Gross | 13,312 | 13,312 | 15,871 | 17,456 |
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | 0 | 0 |
Goodwill, ending balance | 13,312 | 13,312 | 15,871 | 17,456 |
Corporate & Other Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairment of goodwill | 0 | |||
Goodwill, Acquired During Period | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 17,510 | 18,588 | ||
Foreign currency translation adjustment | (800) | (1,078) | ||
Goodwill, Gross | 22,993 | 22,993 | 23,793 | 24,871 |
Goodwill, Impaired, Accumulated Impairment Loss | (6,283) | (6,283) | (6,283) | (6,283) |
Goodwill, ending balance | $ 16,710 | $ 16,710 | $ 17,510 | $ 18,588 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | |||||||||||
Options to purchase shares | 1,300 | 2,500 | 2,700 | ||||||||
Income from continuing operations- basic and diluted | $ (28,249) | $ 6,511 | $ 5,678 | $ 5,092 | $ 6,516 | $ 9,493 | $ 7,208 | $ 4,395 | $ (10,968) | $ 27,612 | $ 16,246 |
Weighted average shares outstanding-basic | 51,402 | 52,328 | 56,473 | ||||||||
Shares issuable upon exercise of stock options | 0 | 2,082 | 3,003 | ||||||||
Weighted average shares outstanding-diluted | 51,402 | 54,410 | 59,476 | ||||||||
Basic earnings per share (in dollars per share) | $ (0.56) | $ 0.13 | $ 0.11 | $ 0.10 | $ 0.13 | $ 0.18 | $ 0.14 | $ 0.08 | $ (0.21) | $ 0.53 | $ 0.29 |
Diluted earnings per share (in dollars per share) | $ (0.56) | $ 0.12 | $ 0.11 | $ 0.09 | $ 0.12 | $ 0.18 | $ 0.13 | $ 0.08 | $ (0.21) | $ 0.51 | $ 0.27 |
QUARTERLY RESULTS OF OPERATIO71
QUARTERLY RESULTS OF OPERATIONS (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Impairment of goodwill | $ 34,800 | $ 34,818 | $ 0 | $ 7,728 | |||||||
Revenue, Net | 65,059 | $ 65,138 | $ 65,802 | $ 63,770 | $ 67,766 | $ 67,615 | $ 66,544 | $ 60,690 | |||
Operating Expenses | 89,338 | 54,180 | 55,286 | 54,610 | 55,458 | 54,183 | 53,556 | 52,814 | |||
Operating income | (24,279) | 10,958 | 10,516 | 9,160 | 12,308 | 13,432 | 12,988 | 7,876 | 6,355 | 46,604 | 29,206 |
Net income (loss) | $ (28,249) | $ 6,511 | $ 5,678 | $ 5,092 | $ 6,516 | $ 9,493 | $ 7,208 | $ 4,395 | $ (10,968) | $ 27,612 | $ 16,246 |
Basic earnings per share (in dollars per share) | $ (0.56) | $ 0.13 | $ 0.11 | $ 0.10 | $ 0.13 | $ 0.18 | $ 0.14 | $ 0.08 | $ (0.21) | $ 0.53 | $ 0.29 |
Diluted earnings per share (in dollars per share) | $ (0.56) | $ 0.12 | $ 0.11 | $ 0.09 | $ 0.12 | $ 0.18 | $ 0.13 | $ 0.08 | $ (0.21) | $ 0.51 | $ 0.27 |
SCHEDULE II CONSOLIDATED VALU72
SCHEDULE II CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II DHI GROUP, INC. CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS As of December 31, 2013, 2014 and 2015 (in thousands) Column A Column B Column C Column D Column E Balance at Beginning of Period Charged to Income Deductions (1) Balance at End of Period Description Reserves Deducted From Assets to Which They Apply: Reserve for uncollectible accounts receivable: Year ended December 31, 2013 $ 2,095 $ 1,892 $ (1,268 ) $ 2,719 Year ended December 31, 2014 2,719 1,035 (866 ) 2,888 Year ended December 31, 2015 2,888 1,718 (1,661 ) 2,945 Reserve for deferred tax assets: Year ended December 31, 2013 $ 807 $ (807 ) $ — $ — Year ended December 31, 2014 — 1,793 — 1,793 Year ended December 31, 2015 1,793 (47 ) — 1,746 ____________________ (1) Includes an adjustment for changes in exchange rates during the year | |||
Allowance for Doubtful Accounts [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Balance | $ 2,945 | $ 2,888 | $ 2,719 | $ 2,095 |
Valuation Allowances and Reserves, Charged to Cost and Expense | (1,718) | (1,035) | (1,892) | |
Valuation Allowances and Reserves, Deductions | (1,661) | (866) | (1,268) | |
Valuation Allowance of Deferred Tax Assets [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Valuation Allowances and Reserves, Balance | 1,746 | 1,793 | 0 | $ 807 |
Valuation Allowances and Reserves, Charged to Cost and Expense | (47) | (1,793) | (807) | |
Valuation Allowances and Reserves, Deductions | $ 0 | $ 0 | $ 0 |