DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 02, 2018 | Jun. 30, 2017 | |
Entity Information [Line Items] | |||
Entity Voluntary Filers | No | ||
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, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | Q4 | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 50,408,018 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 142 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash | $ 12,068 | $ 22,987 |
Accounts receivable, net of allowance for doubtful accounts of $3,181 and $2,887 | 38,769 | 43,148 |
Income taxes receivable | 2,617 | 731 |
Prepaid and other current assets | 5,086 | 3,312 |
Total current assets | 58,540 | 70,178 |
Fixed assets, net | 16,147 | 16,610 |
Acquired intangible assets, net | 45,737 | 49,120 |
Goodwill | 170,791 | 171,745 |
Deferred income taxes | 469 | 306 |
Other assets | 4,034 | 2,136 |
Total assets | 295,718 | 310,095 |
Current liabilities | ||
Accounts payable and accrued expenses | 22,196 | 20,220 |
Deferred revenue | 83,646 | 84,615 |
Income taxes payable | 1,129 | 3,467 |
Total current liabilities | 106,971 | 108,302 |
Long-term debt, net | 41,450 | 84,760 |
Deferred income taxes | 8,245 | 7,901 |
Long-term income taxes payable | 1,489 | 0 |
Accrual for unrecognized tax benefits | 2,859 | 2,513 |
Other long-term liabilities | 2,063 | 2,736 |
Total liabilities | 163,077 | 206,212 |
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 81,989 and 80,717 shares, respectively; outstanding: 49,591 and 52,622 shares, respectively | 831 | 820 |
Additional paid-in capital | 375,537 | 366,247 |
Accumulated other comprehensive loss | (27,330) | (32,276) |
Accumulated earnings | 59,776 | 44,078 |
Treasury stock, 32,398 and 28,095 shares, respectively | (276,173) | (274,986) |
Total stockholders’ equity | 132,641 | 103,883 |
Total liabilities and stockholders’ equity | $ 295,718 | $ 310,095 |
CONSOLIDATED BALANCE SHEETS (PA
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
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 | $ 1,688 | $ 3,181 |
Stockholders' equity | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 240,000,000 | 240,000,000 |
Common stock, shares issued | 83,125,000 | 81,989,000 |
Common stock, shares outstanding | 50,480,000 | 49,591,000 |
Treasury stock, shares | 32,645,000 | 32,398,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues | $ 207,950 | $ 226,970 | $ 259,769 |
Operating expenses: | |||
Cost of revenues | 29,974 | 32,126 | 39,147 |
Product development | 24,984 | 25,714 | 29,863 |
Sales and marketing | 80,508 | 77,451 | 81,755 |
General and administrative | 40,749 | 43,684 | 44,639 |
Depreciation | 9,752 | 9,849 | 9,298 |
Other Depreciation and Amortization | 9,752 | 9,849 | 9,298 |
Amortization of intangible assets | 2,138 | 6,787 | 13,894 |
Impairment of goodwill | 0 | 15,369 | 34,818 |
Impairment of intangible assets | 2,226 | 9,252 | 0 |
Disposition related and other costs (Note 12) | 4,746 | 3,347 | 0 |
Total operating expenses | 195,077 | 223,579 | 253,414 |
Gain on sale of business | 6,699 | 0 | 0 |
Gain (Loss) From Litigation Settlement, Restitution Award | 3,293 | 0 | 0 |
Total other operating income | 9,992 | 0 | 0 |
Operating income | 22,865 | 3,391 | 6,355 |
Interest expense | (3,445) | (3,481) | (3,289) |
Other expense | (23) | (29) | (25) |
Income (loss) before income taxes | 19,397 | (119) | 3,041 |
Income tax expense | 3,419 | 5,279 | 14,009 |
Net income (loss) | $ 15,978 | $ (5,398) | $ (10,968) |
Basic earnings (loss) per share (in dollars per share) | $ 0.33 | $ (0.11) | $ (0.21) |
Diluted earnings (loss) per share (in dollars per share) | $ 0.33 | $ (0.11) | $ (0.21) |
Weighted average basic shares outstanding | 47,908 | 48,319 | 51,402 |
Weighted average diluted shares outstanding | 48,230 | 48,319 | 51,402 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income (loss) | $ 15,978 | $ (5,398) | $ (10,968) |
Foreign currency translation adjustment | (11,808) | (6,559) | |
Unrealized losses on investments, net of tax of $0 | 0 | (3) | |
Total other comprehensive loss | 4,946 | (11,808) | (6,562) |
Comprehensive income (loss) | $ 20,924 | $ (17,206) | $ (17,530) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY Statement - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Distributions in Excess of Net Income [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] |
Common stock, shares outstanding | 77,366,000 | ||||||
Net income (loss) | $ (10,968) | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2014 | 177,798 | $ 774 | $ 332,985 | $ (202,499) | $ 60,444 | $ (13,906) | |
Net income (loss) | (10,968) | (10,968) | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (6,559) | ||||||
Other comprehensive loss | (6,562) | (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 | 1,262,000 | ||||||
Restricted stock issued | 12 | $ 12 | |||||
Restricted stock forfeited or withheld to satisfy tax obligations | (245,000) | ||||||
Restricted stock forfeited or withheld to satisfy tax obligations | (1,838) | $ (2) | (1,836) | ||||
Purchase of treasury stock under stock repurchase plan | $ (39,075) | (39,075) | |||||
Exercise of common stock options | 1,802,913 | 1,836,000 | |||||
Exercise of common stock options | $ 7,006 | $ 18 | 6,988 | ||||
Performance Based Restricted Stock Units eligible to vest | 498,000 | ||||||
Performance-Based Restricted Stock Units eligible to vest | (5) | $ (5) | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2015 | 138,613 | $ 807 | 352,208 | (243,410) | 49,476 | (20,468) | |
Common stock, shares outstanding | 80,717,000 | ||||||
Net income (loss) | (5,398) | ||||||
Net income (loss) | (5,398) | (5,398) | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (11,808) | ||||||
Other comprehensive loss | (11,808) | (11,808) | |||||
Stock based compensation | 11,145 | 11,145 | |||||
Excess tax benefit over book expense from stock options exercised | 94 | 94 | |||||
Restricted stock issued | 1,302,000 | ||||||
Restricted stock issued | 13 | $ 13 | |||||
Restricted stock forfeited or withheld to satisfy tax obligations | (328,000) | ||||||
Restricted stock forfeited or withheld to satisfy tax obligations | (2,364) | $ (3) | (2,361) | ||||
Purchase of treasury stock under stock repurchase plan | $ (28,709) | (28,709) | |||||
Exercise of common stock options | 641,710 | 642,000 | |||||
Exercise of common stock options | $ 2,806 | $ 6 | 2,800 | ||||
Performance-Based Restricted Stock Units forfeited or withheld to satisfy tax obligations | (98,000) | ||||||
Performance-Based Restricted Stock Units forfeited or withheld to satisfy tax obligations | (507) | $ (1) | (506) | ||||
Performance Based Restricted Stock Units eligible to vest | (246,000) | ||||||
Performance-Based Restricted Stock Units eligible to vest | 2 | $ 2 | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2016 | $ 103,883 | $ 820 | 366,247 | (274,986) | 44,078 | (32,276) | |
Common stock, shares outstanding | 49,591,000 | 81,989,000 | |||||
Net income (loss) | $ 15,978 | ||||||
Net income (loss) | 15,978 | ||||||
Other comprehensive loss | 4,946 | ||||||
Stock based compensation | 8,608 | 8,608 | |||||
Restricted stock issued | 1,725,000 | ||||||
Restricted stock issued | 17 | $ 17 | |||||
Restricted stock forfeited or withheld to satisfy tax obligations | (655,000) | ||||||
Restricted stock forfeited or withheld to satisfy tax obligations | $ (1,194) | $ (7) | (1,187) | ||||
Exercise of common stock options | 66,188 | 66,000 | |||||
Exercise of common stock options | $ 403 | $ 1 | 402 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2017 | $ 132,641 | $ 831 | 375,537 | $ (276,173) | $ 59,776 | $ (27,330) | |
Common stock, shares outstanding | 50,480,000 | 83,125,000 | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | $ 280 | $ (280) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 15,978 | $ (5,398) | $ (10,968) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | |||
Depreciation | 9,752 | 9,849 | 9,298 |
Amortization of intangible assets | 2,138 | 6,787 | 13,894 |
Deferred income taxes | 212 | (3,268) | (989) |
Amortization of deferred financing costs | 690 | 324 | 402 |
Stock based compensation | 8,608 | 11,145 | 10,185 |
Impairment of goodwill | 0 | 15,369 | 34,818 |
Impairment of intangible assets | 2,226 | 9,252 | 0 |
Impairment of fixed and intangible assets | 9,252 | 0 | |
Change in accrual for unrecognized tax benefits | 346 | (923) | 44 |
Loss on sale of business | (6,699) | 0 | 0 |
Gain (Loss) on Disposition Cost From Sale | 6,699 | (639) | 0 |
Changes in operating assets and liabilities, net of the effects of acquisitions: | |||
Accounts receivable | 1,976 | 2,281 | (2,140) |
Prepaid expense and other assets | (1,120) | (132) | 1,734 |
Accounts payable and accrued expenses | 1,659 | (2,954) | (1,054) |
Income taxes receivable/payable | (2,111) | (64) | 8,256 |
Deferred revenue | 712 | 2,370 | (571) |
Other, net | 42 | (280) | 250 |
Net cash flows from operating activities | 34,409 | 44,997 | 63,159 |
Cash flows from investing activities: | |||
Cash received from sale of business | 12,947 | 2,429 | 0 |
Purchases of fixed assets | (13,222) | (11,699) | (9,078) |
Purchases of cost method investments | (500) | (1,500) | 0 |
Net cash flows from investing activities | (775) | (10,770) | (9,078) |
Cash flows from financing activities: | |||
Payments on long-term debt | (44,000) | (42,000) | (138,500) |
Proceeds from long-term debt | 0 | 27,000 | 129,000 |
Payments under stock repurchase plan | 0 | (29,572) | (38,212) |
Payment of acquisition related contingencies | 0 | 0 | (3,829) |
Proceeds from stock option exercises | 403 | 2,806 | 7,010 |
Purchase of treasury stock related to vested restricted stock | (1,184) | (2,868) | (1,835) |
Financing costs paid | 0 | 0 | (646) |
Net cash flows from financing activities | (44,781) | (44,634) | (47,012) |
Effect of exchange rate changes | 228 | (656) | 204 |
Net change in cash and cash equivalents for the period | (10,919) | (11,063) | 7,273 |
Cash, beginning of period | 22,987 | 34,050 | 26,777 |
Cash, end of period | $ 12,068 | $ 22,987 | $ 34,050 |
ORGANIZATION AND PRINCIPAL ACTI
ORGANIZATION AND PRINCIPAL ACTIVITIES (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ORGANIZATION AND PRINCIPAL ACTIVITIES DHI Group, Inc. (“DHI” or the “Company”), a Delaware corporation, was incorporated on June 28, 2005. DHI is a leading provider of data, insights and employment connections through its specialized services for technology professionals and other select online communities. Its mission is to empower tech professionals and organizations to compete and win through expert insights and relevant employment connections. Employers and recruiters use its websites and services to source, hire and connect with the most qualified and highly-skilled tech professionals, while professionals use its websites and services to find ideal employment opportunities, relevant job advice and tailored career-related data. For over 25 years, through its predecessor companies, the Company was built on providing employers and professionals with career connections, news, tools and information. The Company serves multiple markets located throughout North America, Europe, the Middle East and the Asia Pacific region. |
SIGNIFCANT ACCOUNTING POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation — The consolidated financial statements include the accounts of DHI and its wholly-owned subsidiaries and cost method investment. All intercompany balances and transactions have been eliminated in consolidation. 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 of a combination of job postings and access to a searchable database of candidates on the Dice, ClearanceJobs, eFinancialCareers, Rigzone, Health eCareers (sold December 4, 2017), BioSpace (transferred majority ownership to BioSpace management on January 31, 2018) 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 Financial Accounting Standards Board ("FASB") ASC 605-25. 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. 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, 2017, 2016 and 2015. 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. Statements of Cash Flows— All bank deposits are considered cash. The supplemental disclosures to the accompanying consolidated statements of cash flows are as follows (in thousands): 2017 2016 2015 Supplemental cash flow information: Interest paid $ 3,254 $ 3,256 $ 2,937 Taxes paid 4,697 9,096 6,853 Non-cash investing and financing activities: Capital expenditures on fixed assets included in accounts payable and accrued expenses 63 201 431 Share repurchases included in accounts payable and accrued expenses — — 863 Investments— During 2017, pursuant to the achievement of certain performance milestones, the Company purchased additional preferred stock representing a 2.3% interest in the fully diluted shares of a leading tech skills assessment company for $0.5 million , bringing its total interest to 10.0% and total cost to $2.0 million. The Company has recorded the investment using the cost method and has not adjusted the investment to fair market value. The investment is included in the Other assets section of the Consolidated Balance Sheets. 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. 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. 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 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 4 for discussion of impairment charges. 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 Costs— The Company expenses advertising costs as they are incurred. Advertising expense for the years ended December 31, 2017, 2016 and 2015 was $35.3 million , $30.5 million and $33.2 million , respectively. 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 and impairment of intangible assets, and depreciation of fixed assets. 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 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 4 for fair value disclosures. Risks and Uncertainties— The Company is subject to the risks, expenses and uncertainties frequently encountered by companies in the rapidly evolving markets for online 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. 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, and the assumptions used to value the Performance-Based Restricted Stock Units (“PSUs”) of the Company. Earnings (Loss) per Share— The Company follows the Earnings Per Share topic of the FASB ASC in computing earnings per share (“EPS”). Basic EPS is calculated by dividing net income (loss) by the weighted average number of shares outstanding. When the effects are dilutive, diluted earnings (loss) per share is calculated using the weighted average number of shares outstanding, and the dilutive effect of stock-based compensation awards as determined under the treasury stock method. Certain stock awards were excluded from the computation of diluted (loss) earnings per share due to their anti-dilutive effect. See Note 16. New Accounting Pronouncements— In May 2014, FASB issued ASU No. 2014-09 ("Topic 606"), Revenue from Contracts with Customers. Topic 606 supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition, and requires entities 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 and requires an entity to recognize the incremental costs of obtaining a contract with a customer as an asset if the entity expects to recover those costs over time. Topic 606 becomes effective for reporting periods beginning after December 15, 2017. Topic 606 provides companies with two implementation methods. Companies can choose to apply the standard retrospectively to each prior reporting period presented (full retrospective application) or retrospectively with the cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings of the annual reporting period that includes the date of initial application (modified retrospective application). The Company has chosen the modified retrospective application method, and will implement Topic 606 effective January 1, 2018. The Company has evaluated the impact Topic 606 will have on its consolidated financial statements and related disclosures, and has determined that there will be material changes related to the timing of when contract acquisition costs are expensed, and has determined that there will be certain limited changes to the timing of revenue recognition for job posting and resume search over the contract period. The Company has determined that the January 1, 2018 cumulative effect to its revenue streams will be an increase of approximately $0.2 million to deferred revenues, and the cumulative effect to its contract acquisition costs will be an increase to contract acquisition cost assets of approximately $6.1 million , with a net after tax increase to retained earnings of approximately $4.5 million . The cumulative impact on contract acquisition costs was computed based on contracts in force as of December 31, 2017 using average commission rates on both new business sales to be amortized over approximately two years and the remaining sales contracts to be amortized over approximately one year. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. The Company adopted the standard during the three months ended March 31, 2017. The new standard requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled, rather than in additional paid-in capital. Accordingly, the new standard eliminates the requirement to reclassify excess tax benefits from operating activities to financing activities in the statement of cash flows. Additionally, the Company can now make a policy election to account for forfeitures as they occur. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement were applied prospectively. The tax effect of awards vested resulted in income tax expense of $1.4 million during the twelve months ended December 31, 2017. The Company recast prior year cash flows to reflect the excess tax benefit as an operating activity, resulting in a reclassification of $0.4 million from “Excess tax benefit over book expense from stock based compensation” to “Income taxes receivable/payable” on the Consolidated Statements of Cash Flows. The Company will record forfeitures as they occur, rather than estimating in advance. On January 1, 2017, under the modified retrospective transition method as required by the standard, the Company recorded a cumulative-effect adjustment of $0.3 million to decrease accumulated earnings and increase additional paid-in capital to remove estimated forfeitures on all outstanding equity awards after December 31, 2016. In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard has requirements on how to account for leases by both the lessee and the lessor and adds clarification for what constitutes a lease, among other items. The updated standard becomes effective for fiscal years beginning after December 15, 2018 and interim periods the following year, with early adoption permitted. The new standard must be applied using a modified retrospective transition. The Company is evaluating the expected impact of this standard on its financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other . The new standard eliminates Step 2 from the goodwill impairment test and requires the Company to compare the fair value of a reporting unit with its carrying amount. The Company should recognize an impairment charge for the amount by which the carrying amount exceeds the fair value. The standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Accordingly, the Company has adopted the new standard during the year ended December 31, 2017 |
ASSETS HELD FOR SALE (Notes)
ASSETS HELD FOR SALE (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | SALE OF BUSINESS The Company sold the Health eCareers business on December 4, 2017 for $15.0 million and incurred approximately $0.6 million of selling costs. $1.5 million of the purchase price was placed in escrow (recorded in other long-term assets in the consolidated balance sheet) and will be released 18 months after the closing date, subject to the terms and conditions of the transaction agreement. Additionally, the Company recorded a receivable of $0.6 million (recorded in other current assets in the consolidated balance sheet) related to working capital to be released 3 months after the closing date, subject to the terms and conditions of the transaction agreement. Net cash proceeds on the date of sale were $12.9 million . A $6.7 million gain on the sale of business was recognized during the fourth quarter of 2017. The Company sold the Slashdot and SourceForge businesses (together referred to as “Slashdot Media”) on January 27, 2016 for $2.8 million cash plus working capital of $0.4 million and incurred approximately $0.8 million of selling costs. A $0.6 million loss on sale of business was recognized in the year ended December 31, 2016. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2017 | |
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, other assets, 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 estimated fair value of long-term debt is based on Level 2 inputs. 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, an impairment test is required. 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. If the fair value of the reporting unit is less than the carrying value, an impairment charge is recorded for the excess of the carrying value over the fair value of the reporting unit. 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 —During the third quarter of 2016, goodwill at the Energy reporting unit with a carrying value of $15.4 million was tested for impairment due to the decline in demand for energy professionals, stemming from persistently depressed oil prices. The Company recorded an impairment of goodwill of $15.4 million as of September 30, 2016, bringing goodwill at the Energy reporting unit to zero. In order to arrive at the 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 $15.4 million in the year ended December 31, 2016. 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 the Energy 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 persistently low 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. During 2017, the Company performed an in-depth review of the getTalent product and the market outlook due to slow sales of the product and the high cost of development. Based on the review, the Company determined the required investments to competitively position the product were too high. As a result, the product offering was canceled. The long-lived assets of getTalent were tested for recoverability. This process resulted in an impairment of capitalized website development costs of $2.2 million , which was recorded in the third quarter of 2017 and reduced the net book value of assets related to getTalent to zero. During 2016, 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 an impairment charge of unamortized intangible assets of $9.3 million was recorded, which reduced the unamortized intangible assets at the Energy reporting unit to zero. Both getTalent and Energy are included in Corporate & Other. 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, 2017 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, 2017 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | FIXED ASSETS, NET Fixed assets, net consist of the following as of December 31, 2017 and 2016 (in thousands): 2017 2016 Computer equipment and software $ 13,588 $ 15,289 Furniture and fixtures 3,093 3,485 Leasehold improvements 3,199 3,661 Capitalized development costs 21,824 24,129 41,704 46,564 Less: Accumulated depreciation and amortization (25,557 ) (29,954 ) Fixed assets, net $ 16,147 $ 16,610 |
ACQUIRED INTANGIBLE ASSETS, NET
ACQUIRED INTANGIBLE ASSETS, NET | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
Acquired Intangible Assets, Net | ACQUIRED INTANGIBLE ASSETS, NET Below is a summary of the major acquired intangible assets (in thousands): As of and for the year ended December 31, 2017 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Acquired Intangible Assets, Net Technology $ 4,561 $ (3,930 ) $ (631 ) $ — Trademarks and brand names—Dice 39,000 — — 39,000 Trademarks and brand names—Other 11,103 (7,260 ) (2,185 ) 1,658 Customer lists 12,887 (5,696 ) (2,112 ) 5,079 Candidate and content database 8,857 (8,354 ) (503 ) — Acquired intangible assets, net $ 76,408 $ (25,240 ) $ (5,431 ) $ 45,737 During the fourth quarter of 2017, the Company disposed of $4.6 million of fully amortized acquired intangible assets from the sale of Health eCareers (sold December 4, 2017). During the first quarter of 2017 and the second quarter of 2016, the Company retired $26.7 million and $44.1 million , respectively, of fully amortized acquired intangible assets. As of and for the year ended December 31, 2016 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Impairment Acquired Intangible Assets, Net Technology $ 10,308 $ (9,677 ) $ (631 ) $ — $ — Trademarks and brand names—Dice 39,000 — — — 39,000 Trademarks and brand names—Other 23,194 (14,379 ) (2,286 ) (3,168 ) 3,361 Customer lists 28,473 (13,518 ) (2,112 ) (6,084 ) 6,759 Candidate and content database 15,918 (15,295 ) (623 ) — — Acquired intangible assets, net $ 116,893 $ (52,869 ) $ (5,652 ) $ (9,252 ) $ 49,120 During the quarter ended September 30, 2016, 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. The Company recorded an impairment of unamortized intangible assets of $9.3 million as of September 30, 2016. Based on the carrying value of the acquired finite-lived intangible assets recorded as of December 31, 2017 , and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): 2018 $ 1,185 2019 1,149 2020 1,149 2021 1,149 2022 1,149 2023 and thereafter 956 Total $ 6,737 Indefinite Life on Trade Name The Dice.com trademarks and brand name is one of the most recognized names of online recruiting and career development. 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. We determine 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 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 impairment test performed as of October 1, 2017 resulted in the fair value of the Dice trademarks and brand exceeding the carrying value by 4%. Revenue projections attributable to the Dice trademarks and brand name have declined due to competition in the technology recruiting market, challenges in developing and introducing new products and product enhancements to the market, the Company’s ability to attribute value delivered to customers, and continued uncertainty around Brexit. Revenues related to the Dice trademarks and brand name declined 7% and 4% for the years ended December 31, 2017 and 2016, respectively. Revenue projections for the year ending December 31, 2018 include a modest improvement to the rate of decline experienced in the year ended December 31, 2017 and is expected to begin to improve late in 2018 and into 2019. The Company’s ability to achieve these revenue projections may be impacted by, among other things, the factors noted above that have contributed to the decline in recent periods. Projected future cash flows attributable to the Dice trademarks and brand name declined as a result of the lower projected revenue, as well as increased spending focused on new and enhanced products and marketing campaigns. Operating expenses, excluding amortization expense, impairment charges and disposition related and other costs in the projections are expected to remain approximately consistent for the year ending December 31, 2018 as compared to the year ended December 31, 2017 and then increase at levels that allow for modest operating margin improvements. The Company utilized a relief from royalty rate method to value the Dice trademarks and brand name using a royalty rate of 5.0%. 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. We consider factors such as historical performance, anticipated market conditions, operating expense trends and capital expenditure requirements. Changes in our strategy and/or market conditions could significantly impact these judgments and require adjustments to recorded amounts of intangible assets. |
INDEBTEDNESS
INDEBTEDNESS | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Indebtedness | INDEBTEDNESS Credit Agreement —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”) maintains an Amended and Restated Credit Agreement (the “Credit Agreement”), which matures in November 2020. The Credit Agreement, when entered into during November 2015, provided for a revolving loan facility of $250.0 million , which was subsequently reduced to $150.0 million during August 2017, as permitted under the Credit Agreement. In accordance with ASC 470, Line-of-Credit or Revolving-Debt Arrangements , unamortized debt issuance costs of $410,000 were recorded to interest expense at the time of reduction. 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. Borrowings 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 3.0 to 1.0. Negative covenants include restrictions on incurring certain liens; making certain payments, such as stock repurchases and dividend payments; making certain investments; making certain acquisitions; making certain dispositions; 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, 2017 , the Company was in compliance with all of the financial covenants under the Credit Agreement. The obligations under the Credit Agreement are guaranteed by three of the Company’s wholly-owned subsidiaries, eFinancialCareers, Inc., Targeted Job Fairs, Inc., and Rigzone.com, 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. The amounts borrowed as of December 31, 2017 and December 31, 2016 are as follows (dollars in thousands): December 31, December 31, Amounts borrowed: Revolving credit facility $ 42,000 $ 86,000 Less: deferred financing costs, net of accumulated amortization of $1,529 and $1,487 (550 ) (1,240 ) Total borrowed $ 41,450 $ 84,760 Available to be borrowed under revolving facility $ 108,000 $ 164,000 Interest rates: LIBOR rate loans: Interest margin 2.25 % 2.00 % Actual interest rates 3.88 % 2.81 % There are no scheduled payments until maturity of the Credit Agreement in November 2020. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2017 | |
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 2026. Future minimum lease payments under non-cancellable operating leases as of December 31, 2017 are as follows (in thousands): 2018 $ 4,872 2019 4,253 2020 3,835 2021 3,145 2022 2,496 2023 and thereafter 6,263 Total minimum payments $ 24,864 Rent expense was $4.9 million , $4.5 million and $4.5 million for the years ended December 31, 2017 , 2016, and 2015, 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 adverse effect on the Company’s financial condition, operations or liquidity. Tax Contingencies During 2017, the Company recorded an additional accrual for unrecognized tax benefits for $0.3 million related to filing positions on its tax returns. 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 the Company believes are reasonable. |
EQUITY TRANSACTIONS (Notes)
EQUITY TRANSACTIONS (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
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 permitted the Company to repurchase its common stock through December 2016. Management has discretion in determining the conditions under which shares may be purchased from time to time. The stock repurchase program expired as of December 31, 2016 and there was no stock repurchase plan in place during the year ended December 31, 2017. The following table summarizes the Stock Repurchase Plans approved by the Board of Directors: V VI Approval Date December 2014 December 2015 Authorized Repurchase Amount of Common Stock $50 million $50 million Effective Dates December 2014 to December 2015 December 2015 to December 2016 During the years ended December 31, 2017 , 2016 and 2015 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 Year Ended December 31, 2017 — $ — $ — Year Ended December 31, 2016 3,946,396 $ 7.27 $ 28,709,000 Year Ended December 31, 2015 4,661,528 $ 8.38 $ 39,075,000 There were no unsettled share repurchases as of December 31, 2017 and 2016. 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. 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 would be entitled to dividends only when dividends are paid to common shareholders. In the event of a dividend, the holders of the preferred shares would be 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 2017, 2016 or 2015. Our Credit Agreement limits our ability to declare and pay dividends. Refer to Note 7 “Indebtedness.” |
COMPREHENSIVE INCOME (Notes)
COMPREHENSIVE INCOME (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 and 2016. The unrealized gain (loss) on securities 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, 2017 2016 2015 Unrealized gains (losses) on securities: Balance at beginning of year $ — $ — $ 3 Unrealized losses for the year, net of tax — — (3 ) Balance at end of year $ — $ — $ — Foreign currency translation: Balance at beginning of year $ (32,276 ) $ (20,468 ) $ (13,909 ) Translation adjustments 4,946 (11,808 ) (6,559 ) Balance at end of year $ (27,330 ) $ (32,276 ) $ (20,468 ) Total: Balance at beginning of year $ (32,276 ) $ (20,468 ) $ (13,906 ) Total adjustments for the year 4,946 (11,808 ) (6,562 ) Balance at end of year $ (27,330 ) $ (32,276 ) $ (20,468 ) |
DISPOSITION RELATED AND OTHER C
DISPOSITION RELATED AND OTHER COSTS (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Activities Disclosure [Text Block] | DISPOSITION RELATED AND OTHER COSTS In May 2017, the Company announced plans to divest a number of its online professional communities to achieve greater focus and resource allocation toward its core tech-focused business. The planned divestitures included: BioSpace (transferred majority ownership to BioSpace management on January 31, 2018), Hcareers, Health eCareers (sold December 4, 2017), and Rigzone. In connection with the planned divestitures and focus on the tech business, the Company incurred certain severance and other related costs to further these strategic objectives. The following table displays a roll forward of the disposition related and other costs and related liability balances: Accrual at December 31, 2016 Expense Cash Payments Accrual at December 31, 2017 Severance and retention — 3,112 1,875 1,237 Professional Fees — 1,634 809 825 Total disposition related and other costs — 4,746 2,684 2,062 In January 2016, the Company completed the sale of Slashdot Media and incurred severance costs and additional stock based compensation expense for the acceleration of stock vesting. The Company recognized a loss on the sale of assets of Slashdot Media. The following table displays the disposition related and other costs incurred during the year ended December 31, 2016 (in thousands): Severance — Slashdot Media $ 981 Accelerated stock based compensation expense — Slashdot Media 900 Loss on sale of Slashdot Media 639 Severance related to other brands 827 Total $ 3,347 |
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2017 | |
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. On January 1, 2017, as a result of ASU No. 2016-09 as discussed in Note 2, the Company began recording expense based upon the number of awards outstanding with no estimate for forfeitures. Previously, the Company estimated forfeitures that it expected would occur and recorded expense based upon the number of awards expected to vest. The Company recorded stock based compensation expense of $ 8.6 million and $10.2 million in the years ended December 31, 2017 and 2015, respectively. During the year ended December 31, 2016, the Company recorded $11.1 million , which included $0.9 million of accelerated compensation due to Slashdot Media as shown in Note 11. At December 31, 2017 , there was $10.1 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. 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 as described below. 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, 2017 , 2016 , and 2015 and the changes during the periods then ended is presented below: Year Ended December 31, 2017 2016 2015 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 2,226,375 $ 7.87 2,122,225 $ 8.54 1,786,581 $ 8.45 Granted 1,724,500 $ 4.05 1,302,375 $ 7.33 1,261,600 $ 8.83 Forfeited (655,000 ) $ 6.54 (327,750 ) $ 8.17 (245,312 ) $ 8.34 Vested (902,618 ) $ 7.89 (870,475 ) $ 8.58 (680,644 ) $ 8.91 Non-vested at end of period 2,393,257 $ 5.48 2,226,375 $ 7.87 2,122,225 $ 8.54 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. 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. There was no cash flow impact resulting from the grants. The fair value of PSUs is measured using the Monte Carlo pricing model using the following assumptions: Year Ended December 31, 2017 2016 2015 Weighted average fair value of PSUs granted $ 5.38 $ 7.24 $ 9.25 Dividend yield of DHI Group, Inc. stock — % — % — % Dividend yield of Russell 2000 Index 1.4 % 1.7 % 1.3 % Risk free interest rate 1.5 % 0.9 % 1.1 % Volatility of DHI Group, Inc. stock 41.0 % 33.5 % 33.6 % Volatility of Russell 2000 Index 16.7 % 16.7 % 16.2 % A summary of the status of PSUs as of December 31, 2017 , 2016, and 2015 and the changes during the periods then ended is presented below: Year Ended December 31, 2017 2016 2015 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 580,004 $ 8.02 415,000 $ 9.25 — $ — Granted 397,500 $ 5.38 417,500 $ 7.24 415,000 $ 9.25 Forfeited (217,501 ) $ 7.04 (98,751 ) $ 8.17 — $ — Vested — $ — (153,745 ) $ 9.13 — $ — Non-vested at end of period 760,003 $ 6.92 580,004 $ 8.02 415,000 $ 9.25 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. There was no cash flow impact resulting from the grants. No stock options were granted during the years ended December 31, 2017 , 2016 , and 2015. A summary of the status of options previously granted as of December 31, 2017 , 2016 , and 2015 , and the changes during the periods then ended is presented below: Year Ended December 31, 2017 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 1,779,613 $ 8.46 $ 50,869 Exercised (66,188 ) $ 6.08 $ 12,821 Forfeited (611,550 ) $ 7.25 — Options outstanding at December 31 1,101,875 $ 9.28 $ — Exercisable at December 31 1,076,155 $ 9.32 $ — Options expected to vest at December 31 25,720 $ 7.43 Year Ended December 31, 2016 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 2,673,512 $ 7.46 $ 5,485,248 Exercised (641,710 ) $ 4.37 $ 2,209,260 Forfeited (252,189 ) $ 8.20 — Options outstanding at December 31 1,779,613 $ 8.46 $ 50,869 Exercisable at December 31 1,552,642 $ 8.52 $ 50,869 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 In connection with the Company’s sale of Slashdot Media, the Company accelerated the vesting of 130,375 shares of restricted stock and 24,001 stock options to certain former employees during the year ended December 31, 2016, the expense of which is recorded in Disposition Related and Other Costs in the Consolidated Statements of Operations. The weighted-average remaining contractual term of options exercisable at December 31, 2017 is 2.2 years. The following table summarizes information about options outstanding as of December 31, 2017 : Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable (in years) $ 7.00 - $ 7.99 317,375 3.1 297,280 $ 8.00 - $ 8.99 199,500 1.5 193,875 $ 9.00 - $ 9.99 470,000 2.3 470,000 $ 10.00 - $ 14.50 115,000 0.2 115,000 1,101,875 1,076,155 |
INCOME TAXES (Notes)
INCOME TAXES (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES Deferred tax assets (liabilities) included in the balance sheet as of December 31, 2017 and 2016 are as follows (in thousands): 2017 2016 Deferred tax assets: Net operating loss carryforward $ 168 $ 155 Allowance for doubtful accounts 272 519 Provision for accrued expenses and other, net 1,300 2,947 Stock based compensation 3,770 5,410 Deferred revenue 920 283 Tax credit carryforward — 3,257 6,430 12,571 Less valuation allowance 224 1,033 Deferred tax asset, net of valuation allowance 6,206 11,538 Deferred tax liabilities: Acquired intangibles (10,933 ) (14,602 ) Depreciation of fixed assets (3,049 ) (4,531 ) Deferred tax liabilities (13,982 ) (19,133 ) Net deferred tax liability $ (7,776 ) $ (7,595 ) Recognized in Consolidated Balance Sheets: Deferred tax asset 469 306 Deferred tax liability (8,245 ) (7,901 ) Net deferred tax liability $ (7,776 ) $ (7,595 ) The Company had deferred tax assets of $0.2 million at December 31, 2017 and 2016 related to net operating loss carryforwards and $3.3 million at December 31, 2016 related to tax credit carryforwards. The Company had no tax credit carryforwards at December 31, 2017. The net operating losses expire in various years through 2025. The Company has recorded valuation allowances of $0.2 million and $1.0 million , respectively, at December 31, 2017 and 2016 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, 2017 , 2016 and 2015 is as follows (in thousands): 2017 2016 2015 Current income tax expense (benefit): Federal $ 1,984 $ 5,048 $ 10,201 State (285 ) 931 1,491 Foreign 1,504 2,259 3,500 Current income tax expense 3,203 8,238 15,192 Deferred income tax expense (benefit): Federal (207 ) (891 ) 998 State 329 192 405 Foreign 94 (2,260 ) (2,586 ) Deferred income tax expense (benefit) 216 (2,959 ) (1,183 ) Income tax expense $ 3,419 $ 5,279 $ 14,009 A reconciliation between the tax expense at the federal statutory rate and the reported income tax expense is summarized as follows: Year Ended December 31, 2017 2016 2015 Federal statutory rate $ 6,789 $ (42 ) $ 1,064 Gain on sale of subsidiary (1,571 ) — — Stock-based compensation 1,414 — — Nondeductible impairment — 5,287 9,199 State taxes, net of federal effect 35 756 1,435 Difference between foreign and U.S. rates (1,054 ) 297 2,366 Change in unrecognized tax benefits 1,003 (923 ) 46 Gross tax on foreign dividend 275 5,084 — Tax credits related to foreign dividend (275 ) (4,244 ) — US transition tax on foreign earnings 2,962 — — Federal rate change impact on deferred tax liabilities (3,281 ) — — Research and development tax credits (1,764 ) (173 ) (165 ) Change in valuation allowances (780 ) (713 ) — Other (334 ) (50 ) 64 Income tax expense $ 3,419 $ 5,279 $ 14,009 Effective tax rate 17.6 % (4,436.1 )% 460.7 % In December 2017, President Trump signed into law H.R.1, commonly known as the Tax Cuts and Jobs Act (“TCJA”), which makes significant changes to the Internal Revenue Code. Subsequent to enactment of the TCJA in December 2017, the Securities and Exchange Commission staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to provide guidance regarding accounting for the TCJA’s impact. SAB 118 requires companies to recognize those tax items for which accounting can be completed. For items whose accounting has not been completed, companies must recognize provisional amounts to the extent they are reasonably estimable, with subsequent adjustments over a measurement period as more information is available and calculations are finalized. Enactment of the TCJA resulted in a one-time transition tax on the deemed repatriation of the Company’s undistributed earnings of its foreign subsidiaries. The Company has estimated that it will have a gross transition tax liability of $9.5 million which will be reduced by foreign tax credits of $6.5 million . Thus the Company has recorded tax expense of $ 3.0 million in the year ended December 31, 2017 as a provisional estimate of its US federal and state transition tax liability. The TCJA lowered the Company’s US statutory federal tax rate from 35% to 21% effective January 1, 2018. The Company recorded a tax benefit of $ 3.3 million in the year ended December 31, 2017 as a provisional estimate of the reduction in its US deferred tax liabilities resulting from the rate change. While the Company has recognized the provisional tax effect of the transition tax on deemed repatriation and the revaluation of deferred tax assets and liabilities in its financial statements for the year ended December 31, 2017, the ultimate tax impact could differ from these provisional amounts. The Company will continue to analyze the impact of the TCJA, including any additional regulatory guidance issued by the U.S. tax authorities, and expects to complete its accounting in 2018. The Company recorded impairment charges of $2.2 million , $24.6 million , and $34.8 million for the years ended December 31, 2017, 2016, and 2015, respectively. Of the total impairment, the amounts relating to non-deductible goodwill were zero in 2017, $15.4 million in 2016, and $33.6 million in 2015. Based on the jurisdictions where the impairment charges were recorded, the non-deductible amounts caused tax expense to exceed the expected expense at statutory tax rates by zero in 2017, $5.3 million in 2016, and $9.2 million in 2015. Prior to December 2016, the Company had asserted under ASC 740-30 that all of the unremitted earnings of its foreign subsidiaries were indefinitely invested. The Company evaluates this assertion each period based on a number of factors, including the operating plans, budgets, and forecasts for both the Company and its foreign subsidiaries; the long-term and short-term financial requirements in the U.S. and in each foreign jurisdiction; and the tax consequences of any decision to repatriate earnings of foreign subsidiaries to the U.S. In the fourth quarter of 2016, the Company evaluated a tax planning strategy related to the utilization of foreign tax credits on its U.S. federal tax return. Absent the strategy, the Company believed that it would not realize any of the credits during the allowable carryforward period under U.S. law. The Company concluded in December 2016 that it would implement the strategy, thus impacting the tax consequences of repatriation by enabling greater utilization of foreign tax credits. As a result, the Company changed its assertion regarding the indefinite reinvestment of its Canada subsidiary’s foreign earnings, but did not change its assertion with regard to the undistributed earnings of all other foreign subsidiaries. The Company recorded a tax liability of $0.8 million at December 31, 2016 reflecting the repatriation of $16.4 million from Canada to the U.S. All cumulative earnings of the Canada subsidiary through December 31, 2016 were distributed, so no additional accrual for deferred taxes related to earnings of the Canada subsidiary was required. The Company also recorded a tax benefit of $0.7 million in the year ended December 31, 2016 to record the partial release of a valuation allowance related to its foreign tax credit carryforwards. Because of the transition tax on deemed repatriation required by the TCJA, the Company has been subject to tax in 2017 on the entire amount of its previously undistributed earnings from foreign subsidiaries. Beginning in 2018, the TCJA will generally provide a 100% deduction for U.S. federal tax purposes of dividends received by the Company from its foreign subsidiaries. However, the Company is currently evaluating the potential foreign and U.S. state tax liabilities that would result from future repatriations, if any, and how the TCJA will affect the Company's existing accounting position with regard to the indefinite reinvestment of undistributed foreign earnings. The Company expects to complete this evaluation and determine the impact which the legislation may have on its indefinite reinvestment assertion within the measurement period provided by SAB 118. The TCJA establishes new tax rules designed to tax U.S. companies on global intangible low-taxed income (GILTI) earned by foreign subsidiaries. Because of the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision of the TCJA and the application of ASC 740. Therefore, the Company has not made any adjustments related to potential GILTI tax in its 2017 financial statements. 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 December 31, 2017 and 2016 , the Company has recorded a liability of $2.9 million and $2.5 million , respectively, which consists of unrecognized tax benefits of $2.5 million and $2.2 million , respectively, and estimated accrued interest and penalties of $0.3 million and $0.4 million , respectively. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. During the years ended December 31, 2017 , 2016 and 2015 , interest expense (income) and penalties recorded in the Consolidated Statements of Operations were $(41,000) , $(86,000) and $177,000 , respectively. Following is a reconciliation of the amounts of unrecognized tax benefits, net of tax and excluding interest and penalties, for the years ended December 31, 2017 , 2016 and 2015 (in thousands): 2017 2016 2015 Unrecognized tax benefits—beginning of period $ 2,153 $ 2,989 $ 3,122 Increases in tax positions related to current year 278 117 169 Increases in tax positions related to prior year 646 — 76 Decreases in tax positions related to prior year — (43 ) — Lapse of statute of limitations (538 ) (910 ) (378 ) Unrecognized tax benefits—end of period $ 2,539 $ 2,153 $ 2,989 The foregoing table indicates unrecognized tax benefits, net of tax and excluding interest and penalties. The balance of gross unrecognized benefits was $2.7 million , $2.9 million , and $4.2 million at December 31, 2017, 2016 and 2015, respectively. If the unrecognized tax benefits at December 31, 2017, 2016 and 2015 were recognized in full, tax benefits of $2.9 million , $2.5 million and $3.4 million , respectively, would affect the effective tax rate. The Company files income tax returns in the U.S. and various foreign jurisdictions. The Company is generally no longer subject to examinations by tax authorities for its tax returns for years prior to 2013. The Company believes it is reasonably possible that as much as $0.7 million of its unrecognized tax benefits may be recognized by the end of 2018 as a result of a lapse of the statute of limitations. |
EMPLOYEE SAVINGS PLAN (Notes)
EMPLOYEE SAVINGS PLAN (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [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 $1.7 million , $1.7 million , and $1.6 million for the years ended December 31, 2017 , 2016 and 2015 , respectively, to match employee contributions to the Savings Plan. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company changed its reportable segments during the third quarter of 2017 to reflect the current tech-focused operating structure, which was announced in the second quarter of 2017 and implemented in the third quarter of 2017. Accordingly, all prior periods have been recast to reflect the current segment presentation. The Company has two reportable segments: Tech-focused and Healthcare (Health eCareers was sold on December 4, 2017). The Tech-focused reportable segment includes the Dice, Dice Europe, ClearanceJobs, eFinancialCareers (formerly in the Global Industry Group segment), and Brightmatter (absorbed into Tech-focused in the third quarter of 2017 and formerly in Corporate & Other) services, as well as the Company's Open Web technology. The getTalent assets and liabilities along with its revenues and expenses that were previously in Brightmatter remain in Corporate & Other. The Healthcare reportable segment includes the Health eCareers service and was unchanged from prior presentation. Management has organized its reportable segments based upon its internal management reporting. 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 (business sold in the first quarter of 2016), Hcareers, Rigzone, BioSpace (transferred majority ownership to BioSpace management on January 31, 2018) (each formerly in the Global Industry Group segment), and getTalent (discontinued in the third quarter of 2017) services, which are recorded 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, and the Company's Open Web technology, which operates in Europe. Revenue by geographic region, as shown in the table below, is based on the location of each of the Company’s subsidiaries. The following table shows the segment information (in thousands): 2017 2016 2015 By Segment: Revenues: Tech-focused $ 158,398 $ 170,599 $ 177,195 Healthcare 24,354 27,066 25,877 Corporate & Other 25,198 29,305 56,697 Total revenues $ 207,950 $ 226,970 $ 259,769 Depreciation: Tech-focused $ 6,868 $ 7,060 $ 7,044 Healthcare 1,625 2,089 1,599 Corporate & Other 1,259 700 655 Total depreciation $ 9,752 9,849 $ 9,298 Amortization: Tech-focused $ 132 $ 1,923 $ 3,996 Healthcare 596 835 1,202 Corporate & Other 1,410 4,029 8,696 Total amortization $ 2,138 $ 6,787 $ 13,894 Operating income (loss): Tech-focused $ 38,462 $ 54,066 $ 54,234 Healthcare (1,507 ) (929 ) (490 ) Corporate & Other (14,090 ) (49,746 ) (47,389 ) Operating income 22,865 3,391 6,355 Interest expense (3,445 ) (3,481 ) (3,289 ) Other expense (23 ) (29 ) (25 ) Income (loss) before income taxes $ 19,397 $ (119 ) $ 3,041 Capital expenditures: Tech-focused $ 10,481 $ 7,545 $ 6,261 Healthcare 1,160 1,113 2,350 Corporate & Other 1,914 2,756 627 Total capital expenditures $ 13,555 $ 11,414 $ 9,238 2017 2016 2015 By Geography: Revenues: United States $ 154,406 $ 167,855 $ 185,847 United Kingdom 22,247 23,969 36,841 EMEA, APAC and Canada (1) 31,297 35,146 37,081 Non-United States 53,544 59,115 73,922 Total revenues $ 207,950 $ 226,970 $ 259,769 (1) Europe (excluding United Kingdom), the Middle East and Africa (“EMEA”) and Asia-Pacific (“APAC”) December 31, December 31, December 31, Total assets: Tech-focused $ 266,390 $ 263,462 $ 277,273 Healthcare — 14,375 18,134 Corporate & Other 29,328 32,258 73,528 Total assets $ 295,718 $ 310,095 $ 368,935 The following table shows the carrying amount of goodwill by segment as of December 31, 2016 and December 31, 2017 and the changes in goodwill for the years ended (in thousands): Tech-focused Healthcare Corporate & Other Total Goodwill at January 1, 2016 $ 163,646 $ 6,269 $ 28,683 $ 198,598 Foreign currency translation adjustment (11,484 ) — — (11,484 ) Impairment — — (15,369 ) (15,369 ) Goodwill at December 31, 2016 $ 152,162 $ 6,269 $ 13,314 $ 171,745 Foreign currency translation adjustment 5,315 — — 5,315 Sale of business — (6,269 ) — (6,269 ) Goodwill at December 31, 2017 $ 157,477 $ — $ 13,314 $ 170,791 Goodwill at December 31, 2017 Goodwill $ 157,477 $ — $ 13,314 $ 170,791 Accumulated impairment losses — — — — $ 157,477 $ — $ 13,314 $ 170,791 Our annual impairment test for goodwill is performed on October 1 on the following reporting units: Reporting Unit Impairment Indicated Tech-focused No Healthcare (1) No Hospitality No (1) Health eCareers sold on December 4, 2017 The fair value of the Tech-focused and Hospitality reporting units were not substantially in excess of the carrying value as of the most recent annual impairment testing date of October 1, 2017. The percentage by which the estimated fair value exceeded carrying value for the Tech-focused and Hospitality reporting units was 1% and 19%, respectively. Revenue projections for the Tech-focused reporting unit declined due to competition in the technology recruiting market, challenges in developing and introducing new products and product enhancements to the market, the Company’s ability to attribute value delivered to customers, and continued uncertainty around Brexit. Tech-focused revenues declined 7% and 4% for the years ended December 31, 2017 and 2016, respectively. Revenue projections for the year ending December 31, 2018 include a modest improvement to the rate of decline experienced in the year ended December 31, 2017 and is expected to begin to improve late in 2018 and into 2019. The Company’s ability to achieve these revenue projections may be impacted by, among other things, the factors noted above that have contributed to the decline in recent periods. Projected future cash flows declined as a result of the lower projected revenue, as well as increased spending focused on new and enhanced products and marketing campaigns. Operating expenses, excluding amortization expense, impairment charges and disposition related and other costs in the projections are expected to remain approximately consistent for the year ended December 31, 2018 as compared to the year ended December 31, 2017 and then increase at levels that allow for modest operating margin improvements. Results for the Tech-focused and Hospitality reporting units for the fourth quarter of 2017 and estimated future results as of December 31, 2017 are consistent with the October 1, 2017 analysis. As a result, the Company believes it is not more likely than not that the fair value of the reporting units is less than the carrying value as of December 31, 2017. Therefore, no interim impairment testing was performed as of December 31, 2017. The Tech-focused reporting unit has gone through a period of revenue declines, resulting from competition in the U.S. as well as market slowness in the U.K. due to Brexit. These disruptions and uncertainties could decrease demand for finance and technology professionals in the markets we serve. This decline in demand and any future declines in demand could significantly decrease the use of our finance and technology industry job posting websites and related services, which may adversely affect the Tech-focused reporting unit's financial condition and results of operations. If recruitment activity is slow in the industries in which we operate during 2018 and beyond, our revenues and results of operations will be negatively impacted. As a result of these factors, in the fourth quarter, the Company further evaluated the fair value of the Tech-focused reporting unit and believes it is not more likely than not that the fair value is less than the carrying value. If events and circumstances change resulting in significant reductions in actual operating income or projections of future operating income, the Company will test this reporting unit for impairment prior to the annual impairment test. The amount of goodwill as of December 31, 2017 allocated to the Tech-focused and Hospitality reporting units was $157.5 million and $13.3 million, respectively. Determining the fair value of a reporting unit is judgmental in nature and requires the use of estimates and key assumptions, particularly assumed discount rates and projections of future operating results. The discount rate applied for the Tech-focused reporting unit was 12.9% An increase to the discount rate applied or reductions to future projected operating results could result in future impairment of the Tech-focused reporting unit’s goodwill. It is reasonably possible that changes in judgments, assumptions and estimates the Company made in assessing the fair value of goodwill could cause the Company to consider some portion or all of the goodwill of the Tech-focused and Hospitality reporting units to become impaired. In addition, a future decline in the overall market conditions and/or changes in the Company’s market share could negatively impact the estimated future cash flows and discount rates used to determine the fair value of the reporting units and could result in an impairment charge in the foreseeable future. The Healthcare reporting unit was not at risk of failing the goodwill impairment test as of October 1, 2017. The decline in oil prices in 2014 and 2015 and the continued volatility in 2016 decreased demand for energy professionals worldwide. This decline in demand for energy professionals significantly decreased the use of the Company’s energy industry products and services, adversely affecting the Energy reporting unit’s financial condition and results of operations. As a result of these factors, the Company evaluated the fair value of this reporting unit and recorded a goodwill impairment of $15.4 million during the quarter ended September 30, 2016 at the Corporate & Other segment, bringing goodwill for the Energy reporting unit to zero. See Note 4 for further discussion. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2017 | |
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 2016 and 2015, shares issuable from stock-based awards of $ 0.8 million and $1.3 million were excluded from the computation of shares contingently issuable upon exercise as we recognized a net loss. The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): 2017 2016 2015 Income (loss) from continuing operations—basic and diluted $ 15,978 $ (5,398 ) $ (10,968 ) Weighted-average shares outstanding—basic 47,908 48,319 51,402 Add shares issuable from stock-based awards 322 — Weighted-average shares outstanding—diluted 48,230 48,319 51,402 Basic earnings (loss) per share $ 0.33 $ (0.11 ) $ (0.21 ) Diluted earnings (loss) per share $ 0.33 $ (0.11 ) $ (0.21 ) |
QUARTERLY RESULTS OF OPERATIONS
QUARTERLY RESULTS OF OPERATIONS (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
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 2017 and 2016: For the Three Months Ended March 31 [3] June 30 September 30 December 31 (in thousands, except per share amounts) 2017 Revenues $ 52,190 $ 52,400 $ 52,424 $ 50,936 Total operating expenses 47,895 48,398 49,886 48,898 Other Operating Income — — — 9,992 [4] Operating income $ 4,295 $ 4,002 $ 2,538 $ 12,030 Net income $ 1,340 $ 1,822 $ 1,058 $ 11,758 Basic earnings per common share $ 0.03 $ 0.04 $ 0.02 $ 0.24 [2] Diluted earnings per common share $ 0.03 $ 0.04 $ 0.02 $ 0.24 [2] 2016 Revenues $ 58,286 $ 57,673 $ 56,073 $ 54,938 Total operating expenses 55,644 49,188 72,156 46,591 Operating income (loss) $ 2,642 $ 8,485 $ (16,083 ) $ 8,347 [1] Net income (loss) $ 1,111 $ 4,854 $ (16,841 ) $ 5,478 Basic earnings (loss) per common share $ 0.02 $ 0.10 $ (0.35 ) $ 0.12 [2] Diluted earnings (loss) per common share $ 0.02 $ 0.10 $ (0.35 ) $ 0.11 [2] [1] Impairment of goodwill and intangible assets of $24.6 million was recorded during the three months ended September, 2016 in the Rigzone business (included in Corporate & Other). [2] The sum of the quarters may not equal the full year amount. [3] The Slashdot Media business was sold during the three months ended March 31, 2016. [4] Includes gain on sale of Health eCareers of $6.7 million and proceeds from restitution award of $3.3 million related to the OilPro legal matter. |
CONSOLIDATED VALUATION AND QUAL
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2015, 2016 and 2017 (in thousands) Column A Column B Column C Column D Column E Balance at Beginning of Period Charged to Income Deductions Balance at End of Period Description Reserves Deducted From Assets to Which They Apply: Reserve for uncollectible accounts receivable: Year ended December 31, 2015 $ 2,888 $ 1,718 $ (1,661 ) $ 2,945 Year ended December 31, 2016 2,945 1,435 (1,199 ) 3,181 Year ended December 31, 2017 3,181 1,556 (3,049 ) 1,688 Deferred tax valuation allowance: Year ended December 31, 2015 $ 1,793 $ (47 ) $ — $ 1,746 Year ended December 31, 2016 1,746 (713 ) — 1,033 Year ended December 31, 2017 (1) 1,033 (809 ) — 224 ____________________ (1) |
SUBSEQUENT EVENTS (Notes)
SUBSEQUENT EVENTS (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Subsequent Event [Line Items] | |
Subsequent Events [Text Block] | 18. SUBSEQUENT EVENT The Company transferred its majority ownership of BioSpace on January 31, 2018 to BioSpace management and retained a minority ownership interest in the business. |
SIGNIFCANT ACCOUNTING POLICIE27
SIGNIFCANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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 and cost method investment. 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 of a combination of job postings and access to a searchable database of candidates on the Dice, ClearanceJobs, eFinancialCareers, Rigzone, Health eCareers (sold December 4, 2017), BioSpace (transferred majority ownership to BioSpace management on January 31, 2018) 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 Financial Accounting Standards Board ("FASB") ASC 605-25. 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. |
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 rapidly evolving markets for online 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, 2017, 2016 and 2015. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [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. The supplemental disclosures to the accompanying consolidated statements of cash flows are as follows (in thousands): 2017 2016 2015 Supplemental cash flow information: Interest paid $ 3,254 $ 3,256 $ 2,937 Taxes paid 4,697 9,096 6,853 Non-cash investing and financing activities: Capital expenditures on fixed assets included in accounts payable and accrued expenses 63 201 431 Share repurchases included in accounts payable and accrued expenses — — 863 |
Investment, Policy [Policy Text Block] | Investments— During 2017, pursuant to the achievement of certain performance milestones, the Company purchased additional preferred stock representing a 2.3% interest in the fully diluted shares of a leading tech skills assessment company for $0.5 million , bringing its total interest to 10.0% and total cost to $2.0 million. The Company has recorded the investment using the cost method and has not adjusted the investment to fair market value. The investment is included in the Other assets section of the Consolidated Balance Sheets. |
Property, Plant and Equipment, Impairment [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. |
Internal Use 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. |
Property, Plant and Equipment, Preproduction Design and Development Costs [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 4 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, 2017, 2016 and 2015 was $35.3 million , $30.5 million and $33.2 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 and impairment 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 4 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, and the assumptions used to value the Performance-Based Restricted Stock Units (“PSUs”) of the Company. |
Earnings Per Share, Policy [Policy Text Block] | Earnings (Loss) per Share— The Company follows the Earnings Per Share topic of the FASB ASC in computing earnings per share (“EPS”). Basic EPS is calculated by dividing net income (loss) by the weighted average number of shares outstanding. When the effects are dilutive, diluted earnings (loss) per share is calculated using the weighted average number of shares outstanding, and the dilutive effect of stock-based compensation awards as determined under the treasury stock method. Certain stock awards were excluded from the computation of diluted (loss) earnings per share due to their anti-dilutive effect. See Note 16. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements— In May 2014, FASB issued ASU No. 2014-09 ("Topic 606"), Revenue from Contracts with Customers. Topic 606 supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition, and requires entities 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 and requires an entity to recognize the incremental costs of obtaining a contract with a customer as an asset if the entity expects to recover those costs over time. Topic 606 becomes effective for reporting periods beginning after December 15, 2017. Topic 606 provides companies with two implementation methods. Companies can choose to apply the standard retrospectively to each prior reporting period presented (full retrospective application) or retrospectively with the cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings of the annual reporting period that includes the date of initial application (modified retrospective application). The Company has chosen the modified retrospective application method, and will implement Topic 606 effective January 1, 2018. The Company has evaluated the impact Topic 606 will have on its consolidated financial statements and related disclosures, and has determined that there will be material changes related to the timing of when contract acquisition costs are expensed, and has determined that there will be certain limited changes to the timing of revenue recognition for job posting and resume search over the contract period. The Company has determined that the January 1, 2018 cumulative effect to its revenue streams will be an increase of approximately $0.2 million to deferred revenues, and the cumulative effect to its contract acquisition costs will be an increase to contract acquisition cost assets of approximately $6.1 million , with a net after tax increase to retained earnings of approximately $4.5 million . The cumulative impact on contract acquisition costs was computed based on contracts in force as of December 31, 2017 using average commission rates on both new business sales to be amortized over approximately two years and the remaining sales contracts to be amortized over approximately one year. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. The Company adopted the standard during the three months ended March 31, 2017. The new standard requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled, rather than in additional paid-in capital. Accordingly, the new standard eliminates the requirement to reclassify excess tax benefits from operating activities to financing activities in the statement of cash flows. Additionally, the Company can now make a policy election to account for forfeitures as they occur. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement were applied prospectively. The tax effect of awards vested resulted in income tax expense of $1.4 million during the twelve months ended December 31, 2017. The Company recast prior year cash flows to reflect the excess tax benefit as an operating activity, resulting in a reclassification of $0.4 million from “Excess tax benefit over book expense from stock based compensation” to “Income taxes receivable/payable” on the Consolidated Statements of Cash Flows. The Company will record forfeitures as they occur, rather than estimating in advance. On January 1, 2017, under the modified retrospective transition method as required by the standard, the Company recorded a cumulative-effect adjustment of $0.3 million to decrease accumulated earnings and increase additional paid-in capital to remove estimated forfeitures on all outstanding equity awards after December 31, 2016. In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard has requirements on how to account for leases by both the lessee and the lessor and adds clarification for what constitutes a lease, among other items. The updated standard becomes effective for fiscal years beginning after December 15, 2018 and interim periods the following year, with early adoption permitted. The new standard must be applied using a modified retrospective transition. The Company is evaluating the expected impact of this standard on its financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other . The new standard eliminates Step 2 from the goodwill impairment test and requires the Company to compare the fair value of a reporting unit with its carrying amount. The Company should recognize an impairment charge for the amount by which the carrying amount exceeds the fair value. The standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. Accordingly, the Company has adopted the new standard during the year ended December 31, 2017 |
SIGNIFCANT ACCOUNTING POLICIE28
SIGNIFCANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
SUPPLEMENTAL CASH FLOWS [Abstract] | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | The supplemental disclosures to the accompanying consolidated statements of cash flows are as follows (in thousands): 2017 2016 2015 Supplemental cash flow information: Interest paid $ 3,254 $ 3,256 $ 2,937 Taxes paid 4,697 9,096 6,853 Non-cash investing and financing activities: Capital expenditures on fixed assets included in accounts payable and accrued expenses 63 201 431 Share repurchases included in accounts payable and accrued expenses — — 863 |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment [Table Text Block] | Fixed assets, net consist of the following as of December 31, 2017 and 2016 (in thousands): 2017 2016 Computer equipment and software $ 13,588 $ 15,289 Furniture and fixtures 3,093 3,485 Leasehold improvements 3,199 3,661 Capitalized development costs 21,824 24,129 41,704 46,564 Less: Accumulated depreciation and amortization (25,557 ) (29,954 ) Fixed assets, net $ 16,147 $ 16,610 |
ACQUIRED INTANGIBLE ASSETS, N30
ACQUIRED INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 (in thousands): As of and for the year ended December 31, 2017 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Acquired Intangible Assets, Net Technology $ 4,561 $ (3,930 ) $ (631 ) $ — Trademarks and brand names—Dice 39,000 — — 39,000 Trademarks and brand names—Other 11,103 (7,260 ) (2,185 ) 1,658 Customer lists 12,887 (5,696 ) (2,112 ) 5,079 Candidate and content database 8,857 (8,354 ) (503 ) — Acquired intangible assets, net $ 76,408 $ (25,240 ) $ (5,431 ) $ 45,737 During the fourth quarter of 2017, the Company disposed of $4.6 million of fully amortized acquired intangible assets from the sale of Health eCareers (sold December 4, 2017). During the first quarter of 2017 and the second quarter of 2016, the Company retired $26.7 million and $44.1 million , respectively, of fully amortized acquired intangible assets. As of and for the year ended December 31, 2016 Total Cost Accumulated Amortization Foreign Currency Translation Adjustment Impairment Acquired Intangible Assets, Net Technology $ 10,308 $ (9,677 ) $ (631 ) $ — $ — Trademarks and brand names—Dice 39,000 — — — 39,000 Trademarks and brand names—Other 23,194 (14,379 ) (2,286 ) (3,168 ) 3,361 Customer lists 28,473 (13,518 ) (2,112 ) (6,084 ) 6,759 Candidate and content database 15,918 (15,295 ) (623 ) — — Acquired intangible assets, net $ 116,893 $ (52,869 ) $ (5,652 ) $ (9,252 ) $ 49,120 |
Schedule of Estimated Future Amortization Expense | Based on the carrying value of the acquired finite-lived intangible assets recorded as of December 31, 2017 , and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): 2018 $ 1,185 2019 1,149 2020 1,149 2021 1,149 2022 1,149 2023 and thereafter 956 Total $ 6,737 |
INDEBTEDNESS (Tables)
INDEBTEDNESS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | The amounts borrowed as of December 31, 2017 and December 31, 2016 are as follows (dollars in thousands): December 31, December 31, Amounts borrowed: Revolving credit facility $ 42,000 $ 86,000 Less: deferred financing costs, net of accumulated amortization of $1,529 and $1,487 (550 ) (1,240 ) Total borrowed $ 41,450 $ 84,760 Available to be borrowed under revolving facility $ 108,000 $ 164,000 Interest rates: LIBOR rate loans: Interest margin 2.25 % 2.00 % Actual interest rates 3.88 % 2.81 % |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 2026. Future minimum lease payments under non-cancellable operating leases as of December 31, 2017 are as follows (in thousands): 2018 $ 4,872 2019 4,253 2020 3,835 2021 3,145 2022 2,496 2023 and thereafter 6,263 Total minimum payments $ 24,864 |
EQUITY TRANSACTIONS (Tables)
EQUITY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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: V VI Approval Date December 2014 December 2015 Authorized Repurchase Amount of Common Stock $50 million $50 million Effective Dates December 2014 to December 2015 December 2015 to December 2016 |
Schedule of Repurchase Agreements [Table Text Block] | During the years ended December 31, 2017 , 2016 and 2015 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 Year Ended December 31, 2017 — $ — $ — Year Ended December 31, 2016 3,946,396 $ 7.27 $ 28,709,000 Year Ended December 31, 2015 4,661,528 $ 8.38 $ 39,075,000 |
COMPREHENSIVE INCOME (Tables)
COMPREHENSIVE INCOME (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 2016 2015 Unrealized gains (losses) on securities: Balance at beginning of year $ — $ — $ 3 Unrealized losses for the year, net of tax — — (3 ) Balance at end of year $ — $ — $ — Foreign currency translation: Balance at beginning of year $ (32,276 ) $ (20,468 ) $ (13,909 ) Translation adjustments 4,946 (11,808 ) (6,559 ) Balance at end of year $ (27,330 ) $ (32,276 ) $ (20,468 ) Total: Balance at beginning of year $ (32,276 ) $ (20,468 ) $ (13,906 ) Total adjustments for the year 4,946 (11,808 ) (6,562 ) Balance at end of year $ (27,330 ) $ (32,276 ) $ (20,468 ) |
DISPOSITION RELATED AND OTHER35
DISPOSITION RELATED AND OTHER COSTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following table displays a roll forward of the disposition related and other costs and related liability balances: Accrual at December 31, 2016 Expense Cash Payments Accrual at December 31, 2017 Severance and retention — 3,112 1,875 1,237 Professional Fees — 1,634 809 825 Total disposition related and other costs — 4,746 2,684 2,062 The following table displays the disposition related and other costs incurred during the year ended December 31, 2016 (in thousands): Severance — Slashdot Media $ 981 Accelerated stock based compensation expense — Slashdot Media 900 Loss on sale of Slashdot Media 639 Severance related to other brands 827 Total $ 3,347 |
STOCK BASED COMPENSATION (Table
STOCK BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Schedule of Status of Options Granted | A summary of the status of options previously granted as of December 31, 2017 , 2016 , and 2015 , and the changes during the periods then ended is presented below: Year Ended December 31, 2017 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 1,779,613 $ 8.46 $ 50,869 Exercised (66,188 ) $ 6.08 $ 12,821 Forfeited (611,550 ) $ 7.25 — Options outstanding at December 31 1,101,875 $ 9.28 $ — Exercisable at December 31 1,076,155 $ 9.32 $ — Options expected to vest at December 31 25,720 $ 7.43 Year Ended December 31, 2016 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at January 1 2,673,512 $ 7.46 $ 5,485,248 Exercised (641,710 ) $ 4.37 $ 2,209,260 Forfeited (252,189 ) $ 8.20 — Options outstanding at December 31 1,779,613 $ 8.46 $ 50,869 Exercisable at December 31 1,552,642 $ 8.52 $ 50,869 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 |
Schedule of Exercise Price Range | he following table summarizes information about options outstanding as of December 31, 2017 : Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted- Average Remaining Contractual Life Number Exercisable (in years) $ 7.00 - $ 7.99 317,375 3.1 297,280 $ 8.00 - $ 8.99 199,500 1.5 193,875 $ 9.00 - $ 9.99 470,000 2.3 470,000 $ 10.00 - $ 14.50 115,000 0.2 115,000 1,101,875 1,076,155 |
Performance Stock Units [Member] | |
Equity [Abstract] | |
Schedule of Nonvested Share Activity | A summary of the status of PSUs as of December 31, 2017 , 2016, and 2015 and the changes during the periods then ended is presented below: Year Ended December 31, 2017 2016 2015 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 580,004 $ 8.02 415,000 $ 9.25 — $ — Granted 397,500 $ 5.38 417,500 $ 7.24 415,000 $ 9.25 Forfeited (217,501 ) $ 7.04 (98,751 ) $ 8.17 — $ — Vested — $ — (153,745 ) $ 9.13 — $ — Non-vested at end of period 760,003 $ 6.92 580,004 $ 8.02 415,000 $ 9.25 |
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, 2017 2016 2015 Weighted average fair value of PSUs granted $ 5.38 $ 7.24 $ 9.25 Dividend yield of DHI Group, Inc. stock — % — % — % Dividend yield of Russell 2000 Index 1.4 % 1.7 % 1.3 % Risk free interest rate 1.5 % 0.9 % 1.1 % Volatility of DHI Group, Inc. stock 41.0 % 33.5 % 33.6 % Volatility of Russell 2000 Index 16.7 % 16.7 % 16.2 % |
Restricted Stock Units (RSUs) [Member] | |
Equity [Abstract] | |
Schedule of Nonvested Share Activity | A summary of the status of restricted stock awards as of December 31, 2017 , 2016 , and 2015 and the changes during the periods then ended is presented below: Year Ended December 31, 2017 2016 2015 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 2,226,375 $ 7.87 2,122,225 $ 8.54 1,786,581 $ 8.45 Granted 1,724,500 $ 4.05 1,302,375 $ 7.33 1,261,600 $ 8.83 Forfeited (655,000 ) $ 6.54 (327,750 ) $ 8.17 (245,312 ) $ 8.34 Vested (902,618 ) $ 7.89 (870,475 ) $ 8.58 (680,644 ) $ 8.91 Non-vested at end of period 2,393,257 $ 5.48 2,226,375 $ 7.87 2,122,225 $ 8.54 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 and 2016 are as follows (in thousands): 2017 2016 Deferred tax assets: Net operating loss carryforward $ 168 $ 155 Allowance for doubtful accounts 272 519 Provision for accrued expenses and other, net 1,300 2,947 Stock based compensation 3,770 5,410 Deferred revenue 920 283 Tax credit carryforward — 3,257 6,430 12,571 Less valuation allowance 224 1,033 Deferred tax asset, net of valuation allowance 6,206 11,538 Deferred tax liabilities: Acquired intangibles (10,933 ) (14,602 ) Depreciation of fixed assets (3,049 ) (4,531 ) Deferred tax liabilities (13,982 ) (19,133 ) Net deferred tax liability $ (7,776 ) $ (7,595 ) Recognized in Consolidated Balance Sheets: Deferred tax asset 469 306 Deferred tax liability (8,245 ) (7,901 ) Net deferred tax liability $ (7,776 ) $ (7,595 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Tax expense (benefit) for the years ended December 31, 2017 , 2016 and 2015 is as follows (in thousands): 2017 2016 2015 Current income tax expense (benefit): Federal $ 1,984 $ 5,048 $ 10,201 State (285 ) 931 1,491 Foreign 1,504 2,259 3,500 Current income tax expense 3,203 8,238 15,192 Deferred income tax expense (benefit): Federal (207 ) (891 ) 998 State 329 192 405 Foreign 94 (2,260 ) (2,586 ) Deferred income tax expense (benefit) 216 (2,959 ) (1,183 ) Income tax expense $ 3,419 $ 5,279 $ 14,009 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation between the tax expense at the federal statutory rate and the reported income tax expense is summarized as follows: Year Ended December 31, 2017 2016 2015 Federal statutory rate $ 6,789 $ (42 ) $ 1,064 Gain on sale of subsidiary (1,571 ) — — Stock-based compensation 1,414 — — Nondeductible impairment — 5,287 9,199 State taxes, net of federal effect 35 756 1,435 Difference between foreign and U.S. rates (1,054 ) 297 2,366 Change in unrecognized tax benefits 1,003 (923 ) 46 Gross tax on foreign dividend 275 5,084 — Tax credits related to foreign dividend (275 ) (4,244 ) — US transition tax on foreign earnings 2,962 — — Federal rate change impact on deferred tax liabilities (3,281 ) — — Research and development tax credits (1,764 ) (173 ) (165 ) Change in valuation allowances (780 ) (713 ) — Other (334 ) (50 ) 64 Income tax expense $ 3,419 $ 5,279 $ 14,009 Effective tax rate 17.6 % (4,436.1 )% 460.7 % |
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, net of tax and excluding interest and penalties, for the years ended December 31, 2017 , 2016 and 2015 (in thousands): 2017 2016 2015 Unrecognized tax benefits—beginning of period $ 2,153 $ 2,989 $ 3,122 Increases in tax positions related to current year 278 117 169 Increases in tax positions related to prior year 646 — 76 Decreases in tax positions related to prior year — (43 ) — Lapse of statute of limitations (538 ) (910 ) (378 ) Unrecognized tax benefits—end of period $ 2,539 $ 2,153 $ 2,989 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following table shows the segment information (in thousands): 2017 2016 2015 By Segment: Revenues: Tech-focused $ 158,398 $ 170,599 $ 177,195 Healthcare 24,354 27,066 25,877 Corporate & Other 25,198 29,305 56,697 Total revenues $ 207,950 $ 226,970 $ 259,769 Depreciation: Tech-focused $ 6,868 $ 7,060 $ 7,044 Healthcare 1,625 2,089 1,599 Corporate & Other 1,259 700 655 Total depreciation $ 9,752 9,849 $ 9,298 Amortization: Tech-focused $ 132 $ 1,923 $ 3,996 Healthcare 596 835 1,202 Corporate & Other 1,410 4,029 8,696 Total amortization $ 2,138 $ 6,787 $ 13,894 Operating income (loss): Tech-focused $ 38,462 $ 54,066 $ 54,234 Healthcare (1,507 ) (929 ) (490 ) Corporate & Other (14,090 ) (49,746 ) (47,389 ) Operating income 22,865 3,391 6,355 Interest expense (3,445 ) (3,481 ) (3,289 ) Other expense (23 ) (29 ) (25 ) Income (loss) before income taxes $ 19,397 $ (119 ) $ 3,041 Capital expenditures: Tech-focused $ 10,481 $ 7,545 $ 6,261 Healthcare 1,160 1,113 2,350 Corporate & Other 1,914 2,756 627 Total capital expenditures $ 13,555 $ 11,414 $ 9,238 2017 2016 2015 By Geography: Revenues: United States $ 154,406 $ 167,855 $ 185,847 United Kingdom 22,247 23,969 36,841 EMEA, APAC and Canada (1) 31,297 35,146 37,081 Non-United States 53,544 59,115 73,922 Total revenues $ 207,950 $ 226,970 $ 259,769 (1) Europe (excluding United Kingdom), the Middle East and Africa (“EMEA”) and Asia-Pacific (“APAC”) December 31, December 31, December 31, Total assets: Tech-focused $ 266,390 $ 263,462 $ 277,273 Healthcare — 14,375 18,134 Corporate & Other 29,328 32,258 73,528 Total assets $ 295,718 $ 310,095 $ 368,935 |
Schedule of Goodwill [Table Text Block] | The following table shows the carrying amount of goodwill by segment as of December 31, 2016 and December 31, 2017 and the changes in goodwill for the years ended (in thousands): Tech-focused Healthcare Corporate & Other Total Goodwill at January 1, 2016 $ 163,646 $ 6,269 $ 28,683 $ 198,598 Foreign currency translation adjustment (11,484 ) — — (11,484 ) Impairment — — (15,369 ) (15,369 ) Goodwill at December 31, 2016 $ 152,162 $ 6,269 $ 13,314 $ 171,745 Foreign currency translation adjustment 5,315 — — 5,315 Sale of business — (6,269 ) — (6,269 ) Goodwill at December 31, 2017 $ 157,477 $ — $ 13,314 $ 170,791 Goodwill at December 31, 2017 Goodwill $ 157,477 $ — $ 13,314 $ 170,791 Accumulated impairment losses — — — — $ 157,477 $ — $ 13,314 $ 170,791 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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): 2017 2016 2015 Income (loss) from continuing operations—basic and diluted $ 15,978 $ (5,398 ) $ (10,968 ) Weighted-average shares outstanding—basic 47,908 48,319 51,402 Add shares issuable from stock-based awards 322 — Weighted-average shares outstanding—diluted 48,230 48,319 51,402 Basic earnings (loss) per share $ 0.33 $ (0.11 ) $ (0.21 ) Diluted earnings (loss) per share $ 0.33 $ (0.11 ) $ (0.21 ) |
QUARTERLY RESULTS OF OPERATIO40
QUARTERLY RESULTS OF OPERATIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | The following is a summary of unaudited quarterly results of operations for 2017 and 2016: For the Three Months Ended March 31 [3] June 30 September 30 December 31 (in thousands, except per share amounts) 2017 Revenues $ 52,190 $ 52,400 $ 52,424 $ 50,936 Total operating expenses 47,895 48,398 49,886 48,898 Other Operating Income — — — 9,992 [4] Operating income $ 4,295 $ 4,002 $ 2,538 $ 12,030 Net income $ 1,340 $ 1,822 $ 1,058 $ 11,758 Basic earnings per common share $ 0.03 $ 0.04 $ 0.02 $ 0.24 [2] Diluted earnings per common share $ 0.03 $ 0.04 $ 0.02 $ 0.24 [2] 2016 Revenues $ 58,286 $ 57,673 $ 56,073 $ 54,938 Total operating expenses 55,644 49,188 72,156 46,591 Operating income (loss) $ 2,642 $ 8,485 $ (16,083 ) $ 8,347 [1] Net income (loss) $ 1,111 $ 4,854 $ (16,841 ) $ 5,478 Basic earnings (loss) per common share $ 0.02 $ 0.10 $ (0.35 ) $ 0.12 [2] Diluted earnings (loss) per common share $ 0.02 $ 0.10 $ (0.35 ) $ 0.11 [2] [1] Impairment of goodwill and intangible assets of $24.6 million was recorded during the three months ended September, 2016 in the Rigzone business (included in Corporate & Other). [2] The sum of the quarters may not equal the full year amount. [3] The Slashdot Media business was sold during the three months ended March 31, 2016. [4] Includes gain on sale of Health eCareers of $6.7 million and proceeds from restitution award of $3.3 million related to the OilPro legal matter. |
CONSOLIDATED VALUATION AND QU41
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 Balance at End of Period Description Reserves Deducted From Assets to Which They Apply: Reserve for uncollectible accounts receivable: Year ended December 31, 2015 $ 2,888 $ 1,718 $ (1,661 ) $ 2,945 Year ended December 31, 2016 2,945 1,435 (1,199 ) 3,181 Year ended December 31, 2017 3,181 1,556 (3,049 ) 1,688 Deferred tax valuation allowance: Year ended December 31, 2015 $ 1,793 $ (47 ) $ — $ 1,746 Year ended December 31, 2016 1,746 (713 ) — 1,033 Year ended December 31, 2017 (1) 1,033 (809 ) — 224 ____________________ (1) |
SIGNIFCANT ACCOUNTING POLICIE42
SIGNIFCANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 01, 2017 | |
Schedule of Cost-method Investments [Line Items] | ||||
Interest in Diluted Shares of Cost Method Investment | 2.30% | |||
Cost Method Investments, Original Cost | $ 500 | |||
Debt Issuance Costs, Net | $ 550 | $ 1,240 | ||
Interest in Investment | 10.00% | |||
Accumulated earnings | $ 59,776 | 44,078 | ||
Effective Income Tax Rate Reconciliation, Share-based Compensation, Income Tax Expense, Amount | 1,400 | |||
Net cash flows from operating activities | 34,409 | 44,997 | $ 63,159 | |
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||
Interest Paid | 3,254 | 3,256 | 2,937 | |
Advertising Expense | 35,300 | 30,500 | 33,200 | |
Income Taxes Paid | 4,697 | 9,096 | 6,853 | |
Capital Expenditures Incurred but Not yet Paid | 63 | 201 | 431 | |
Stock Repurchase Program, Not Settled, Amount | 0 | $ 0 | $ 863 | |
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 200 | |||
Capitalized Contract Cost, Net | 6,100 | |||
Accumulated earnings | 4,500 | |||
Accounting Standards Update 2016-09, Statutory Tax Withholding Component [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Net cash flows from operating activities | 400 | |||
Additional Paid-in Capital [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 280 | |||
Additional Paid-in Capital [Member] | Accounting Standards Update 2016-09, Forfeiture Rate Component [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 300 |
ASSETS HELD FOR SALE (Details)
ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands | Dec. 04, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Disposal Group, Including Discontinued Operations, Allowance for Doubtful Accounts | $ 58 | |||
Proceeds from Divestiture of Businesses | $ 2,800 | |||
Disposal Group, Working Capital Adjustment | 400 | |||
Divestiture of business selling costs | 800 | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 639 | |||
Health eCareers [Member] | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Proceeds from Divestiture of Businesses, Total | $ 15,000 | |||
Proceeds from Divesture of Business, Receivable, Working Capital | 600 | |||
Proceeds from Divestiture of Businesses | $ 12,900 | |||
Divestiture of business selling costs | 600 | |||
Escrow Deposits Related to Property Sales | $ 1,500 | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 6,700 |
FAIR VALUE MEASUREMENTS (Unobse
FAIR VALUE MEASUREMENTS (Unobservable Level 3 Inputs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Impairment of goodwill | $ 15,369 | $ 0 | $ 15,369 | $ 34,818 | ||
Impairment of intangible assets | $ 2,200 | $ 9,300 | $ 2,226 | $ 9,252 | $ 0 |
FIXED ASSETS (Details)
FIXED ASSETS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 41,704 | $ 46,564 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (25,557) | (29,954) |
Fixed assets, net | 16,147 | 16,610 |
Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 13,588 | 15,289 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 3,093 | 3,485 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 3,199 | 3,661 |
Capitalized Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 21,824 | $ 24,129 |
ACQUIRED INTANGIBLE ASSETS, N46
ACQUIRED INTANGIBLE ASSETS, NET (Summary of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | $ 76,408 | $ 116,893 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 25,240 | 52,869 | |
Finite-Lived Intangible Assets, Translation Adjustments | 5,431 | 5,652 | |
Impairment of intangible assets | (9,252) | $ 0 | |
Acquired intangible assets, net | 45,737 | 49,120 | |
Technology Equipment [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 4,561 | 10,308 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 3,930 | 9,677 | |
Finite-Lived Intangible Assets, Translation Adjustments | 631 | 631 | |
Impairment of intangible assets | 0 | ||
Acquired intangible assets, net | 0 | 0 | |
Trademarks, Other [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 11,103 | 23,194 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 7,260 | 14,379 | |
Finite-Lived Intangible Assets, Translation Adjustments | 2,185 | 2,286 | |
Impairment of intangible assets | 3,168 | ||
Acquired intangible assets, net | 1,658 | 3,361 | |
Customer Lists [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 12,887 | 28,473 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 5,696 | 13,518 | |
Finite-Lived Intangible Assets, Translation Adjustments | 2,112 | 2,112 | |
Impairment of intangible assets | 6,084 | ||
Acquired intangible assets, net | 5,079 | 6,759 | |
Candidate Database [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 8,857 | 15,918 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 8,354 | 15,295 | |
Finite-Lived Intangible Assets, Translation Adjustments | 503 | 623 | |
Impairment of intangible assets | 0 | ||
Acquired intangible assets, net | 0 | 0 | |
Trademarks [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived Intangible Assets Acquired | 39,000 | 39,000 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 | |
Finite-Lived Intangible Assets, Translation Adjustments | 0 | 0 | |
Impairment of intangible assets | 0 | ||
Acquired intangible assets, net | $ 39,000 | $ 39,000 |
ACQUIRED INTANGIBLE ASSETS, N47
ACQUIRED INTANGIBLE ASSETS, NET (Estimated Future Amortization Expense) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
2,017 | $ 1,185 |
2,018 | 1,149 |
2,019 | 1,149 |
2,020 | 1,149 |
2,021 | 1,149 |
2022 and thereafter | 956 |
Finite-Lived Intangible Assets, Net | $ 6,737 |
ACQUIRED INTANGIBLE ASSETS, N48
ACQUIRED INTANGIBLE ASSETS, NET (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Dec. 31, 2017 | Sep. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
Intangible Assets, Deletions | $ 4.6 | $ 26,700,000 | $ 44,100,000 | |||||
Impairment of intangible assets | $ 2,200,000 | $ 9,300,000 | $ 2,226,000 | $ 9,252,000 | $ 0 |
INDEBTEDNESS (Details)
INDEBTEDNESS (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Aug. 31, 2017USD ($) | |
Debt Instrument [Line Items] | |||
Ratio of Indebtedness to Net Capital, Pro forma basis | 2 | ||
restricted payments under the Credit Agreement | $ 5,000 | ||
Maximum available to be borrowed under revolving facility | 250,000 | $ 150,000 | |
Unamortized Debt Issuance Expense | $ 410 | ||
Total borrowed | $ 41,450 | $ 84,760 | |
London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 2.25% | 2.00% | |
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 1.75% | ||
Minimum [Member] | Base Rate [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 0.75% | ||
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 2.50% | ||
Maximum [Member] | Base Rate [Member] | |||
Debt Instrument [Line Items] | |||
Interest margin | 1.50% |
INDEBTEDNESS (Schedule of Credi
INDEBTEDNESS (Schedule of Credit Agreement) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Revolving credit facility | $ 42,000 | $ 86,000 |
Less: deferred financing costs, net of accumulated amortization of $1,487 and $1,163 | (550) | (1,240) |
Total borrowed | 41,450 | 84,760 |
Line of Credit Facility, Remaining Borrowing Capacity | 108,000 | 164,000 |
Accumulated Amortization, Deferred Finance Costs | $ 1,487 | $ 1,163 |
London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 2.25% | 2.00% |
Actual interest rates | 3.88% | 2.81% |
COMMITMENTS AND CONTINGENCIES51
COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,017 | $ 4,872 | ||
2,018 | 4,253 | ||
2,019 | 3,835 | ||
2,020 | 3,145 | ||
2,021 | 2,496 | ||
2022 and thereafter | 6,263 | ||
Total minimum payments | 24,864 | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Rent expense | 4,900 | $ 4,500 | $ 4,500 |
Tax Contingency, Accrual for Unrecognized Tax Benefits | $ 300 |
EQUITY TRANSACTIONS (Details)
EQUITY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Not Settled, Amount | $ 0 | $ 0 | $ 863 |
Treasury Stock, Shares, Acquired | 0 | 3,946,000 | 4,662,000 |
Treasury Stock Acquired, Average Cost Per Share | $ 0 | $ 7.27 | $ 8.38 |
Treasury Stock, Value, Acquired, Cost Method | $ 0 | $ 28,709 | $ 39,075 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | |
Preferred Stock, Liquidation Preference Per Share | $ 2.17 | ||
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 |
COMPREHENSIVE INCOME (Details)
COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Other Income | $ 3 | ||
Beginning balance | (32,276) | $ (20,468) | $ (13,906) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 4,946 | (11,808) | (6,562) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (11,808) | (6,559) | |
Ending balance | (27,330) | (32,276) | (20,468) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | (32,276) | (20,468) | (13,909) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (11,808) | (6,559) | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 4,946 | ||
Ending balance | (27,330) | (32,276) | (20,468) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 0 | 0 | 3 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 0 | (3) |
Ending balance | $ 0 | $ 0 | $ 0 |
DISPOSITION RELATED AND OTHER54
DISPOSITION RELATED AND OTHER COSTS (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | $ 3,347 |
Employee Severance [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | 0 |
Restructuring and Related Cost, Incurred Cost | 3,112 |
Payments for Restructuring | (1,875) |
Restructuring Reserve | 1,237 |
Special Termination Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | 900 |
Other Restructuring [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | 639 |
Other Restructuring [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | 0 |
Restructuring and Related Cost, Incurred Cost | 4,746 |
Payments for Restructuring | (2,684) |
Restructuring Reserve | 2,062 |
Professional Fees [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | 0 |
Restructuring and Related Cost, Incurred Cost | 1,634 |
Payments for Restructuring | (809) |
Restructuring Reserve | 825 |
Corporate & Other Segment [Member] | Employee Severance [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | 981 |
Other Segments [Member] | Employee Severance [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring Reserve | $ 827 |
STOCK BASED COMPENSATION (Detai
STOCK BASED COMPENSATION (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock based compensation | $ 8,608,000 | $ 11,145,000 | $ 10,185,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,101,875 | 1,779,613 | 2,673,512 | 4,667,738 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 9.28 | $ 8.46 | $ 7.46 | $ 6.14 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 50,869 | $ 5,485,248 | $ 19,357,512 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (66,188) | (641,710) | (1,802,913) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 6.08 | $ 4.37 | $ 3.92 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 12,821 | $ 2,209,260 | $ 9,162,469 | |
Forfeited, Options | (611,550) | (252,189) | (191,313) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 7.25 | $ 8.20 | $ 10.76 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,076,155 | 1,552,642 | 2,037,318 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 9.32 | $ 8.52 | $ 7.19 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 50,869 | $ 4,832,280 | |
Unrecognized compensation expense | $ 10,100,000 | |||
Weighted-average period | 1 year 7 months | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number | 130,375 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number | 24,001 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 1 year 5 months |
STOCK BASED COMPENSATION (Statu
STOCK BASED COMPENSATION (Status of Restricted Stock) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The weighted average fair value of options granted | $ 5.38 | $ 7.24 | $ 9.25 |
Weighted average risk free interest rate | 1.50% | 0.90% | 1.10% |
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at beginning of period, Shares | 580,004 | 415,000 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 397,500 | 417,500 | 415,000 |
Forfeited during the period, Shares | (217,501) | (98,751) | 0 |
Vested during the period, Shares | 0 | (153,745) | 0 |
Non-vested at end of period, Shares | 760,003 | 580,004 | 415,000 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Non-vested at beginning of the period, Weighted Average Grant Date Fair Value | $ 8.02 | $ 9.25 | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 5.38 | 7.24 | 9.25 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 7.04 | 8.17 | 0 |
Vested during the period, Weighted Average Grant Date Fair Value | 0 | 9.13 | 0 |
Non-vested at end of period, Weighted Average Grant Date Fair Value | $ 6.92 | $ 8.02 | $ 9.25 |
Restricted Stock [Member] | |||
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at beginning of period, Shares | 2,226,375 | 2,122,225 | 1,786,581 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,724,500 | 1,302,375 | 1,261,600 |
Forfeited during the period, Shares | (655,000) | (327,750) | (245,312) |
Vested during the period, Shares | (902,618) | (870,475) | (680,644) |
Non-vested at end of period, Shares | 2,393,257 | 2,226,375 | 2,122,225 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Non-vested at beginning of the period, Weighted Average Grant Date Fair Value | $ 7.87 | $ 8.54 | $ 8.45 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | 4.05 | 7.33 | 8.83 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 6.54 | 8.17 | 8.34 |
Vested during the period, Weighted Average Grant Date Fair Value | 7.89 | 8.58 | 8.91 |
Non-vested at end of period, Weighted Average Grant Date Fair Value | $ 5.48 | $ 7.87 | $ 8.54 |
STOCK BASED COMPENSATION (Fair
STOCK BASED COMPENSATION (Fair Value Assumptions) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The weighted average fair value of options granted | $ 5.38 | $ 7.24 | $ 9.25 |
Weighted average risk free interest rate | 1.50% | 0.90% | 1.10% |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 1 year 5 months | ||
DHI Group, Inc. Stock [Member] | Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0.00% | 0.00% | 0.00% |
Weighted average expected volatility | 41.00% | 33.50% | 33.60% |
Russell 2000 Index [Member] | Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 1.40% | 1.70% | 1.30% |
Weighted average expected volatility | 16.70% | 16.70% | 16.20% |
STOCK BASED COMPENSATION (Summa
STOCK BASED COMPENSATION (Summary of Status of Options) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Options, Outstanding [Roll Forward] | |||
Options outstanding at beginning of period, Options | 1,779,613 | 2,673,512 | 4,667,738 |
Exercised, Options | (66,188) | (641,710) | (1,802,913) |
Forfeited, Options | (611,550) | (252,189) | (191,313) |
Options outstanding at end of period, Options | 1,101,875 | 1,779,613 | 2,673,512 |
Exercisable at end of period, Options | 1,076,155 | 1,552,642 | 2,037,318 |
Weighted Average Exercise Price [Roll Forward] | |||
Options outstanding at beginning of period, Weighted Average Exercise Price | $ 8.46 | $ 7.46 | $ 6.14 |
Exercised, Weighted Average Exercise Price | 6.08 | 4.37 | 3.92 |
Forfeited, Weighted Average Exercise Price | 7.25 | 8.20 | 10.76 |
Options outstanding at end of period, Weighted Average Exercise Price | 9.28 | 8.46 | 7.46 |
Exercisable at end of period, Weighted Average Exercise Price | $ 9.32 | $ 8.52 | $ 7.19 |
Aggregate Instrinsic Value [Abstract] | |||
Options outstanding at beginning of period, Aggregate Intrinsic Value | $ 50,869 | $ 5,485,248 | $ 19,357,512 |
Exercised, Aggregate Intrinsic Value | 12,821 | 2,209,260 | 9,162,469 |
Options outstanding at end of period, Aggregate Intrinsic Value | 0 | 50,869 | 5,485,248 |
Exercisable at end of period, Aggregate Intrinsic Value | $ 0 | $ 50,869 | $ 4,832,280 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 25,720 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 7.43 |
STOCK BASED COMPENSATION (Sum59
STOCK BASED COMPENSATION (Summary of Options Outstanding) (Details) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Number of Options Outstanding | 1,101,875 |
Weighted Average Remaining Contractual Life | 2 years 2 months |
Number of Exercisable Options | 1,076,155 |
$7.00 - $7.99 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 7 |
Exercise Price, Upper Limit | $ / shares | $ 7.99 |
Number of Options Outstanding | 317,375 |
Weighted Average Remaining Contractual Life | 3 years 1 month 6 days |
Number of Exercisable Options | 297,280 |
$8.00 - $8.99 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 8 |
Exercise Price, Upper Limit | $ / shares | $ 8.99 |
Number of Options Outstanding | 199,500 |
Weighted Average Remaining Contractual Life | 1 year 6 months |
Number of Exercisable Options | 193,875 |
$9.00 - $9.99 | |
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 | $ 9.99 |
Number of Options Outstanding | 470,000 |
Weighted Average Remaining Contractual Life | 2 years 3 months 18 days |
Number of Exercisable Options | 470,000 |
$10.00 - $14.50 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower Limit | $ / shares | $ 10 |
Exercise Price, Upper Limit | $ / shares | $ 14.50 |
Number of Options Outstanding | 115,000 |
Weighted Average Remaining Contractual Life | 2 months 12 days |
Number of Exercisable Options | 115,000 |
STOCK BASED COMPENSATION Stock
STOCK BASED COMPENSATION Stock Options Outstanding (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 9.28 | $ 8.46 | $ 7.46 | $ 6.14 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 50,869 | $ 5,485,248 | $ 19,357,512 |
Exercised, Options | (66,188) | (641,710) | (1,802,913) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 6.08 | $ 4.37 | $ 3.92 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 12,821 | $ 2,209,260 | $ 9,162,469 | |
Forfeited, Options | (611,550) | (252,189) | (191,313) | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 7.25 | $ 8.20 | $ 10.76 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,076,155 | 1,552,642 | 2,037,318 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 9.32 | $ 8.52 | $ 7.19 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 50,869 | $ 4,832,280 | |
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 | $ 5.48 | $ 7.87 | $ 8.54 | $ 8.45 |
STOCK BASED COMPENSATION Status
STOCK BASED COMPENSATION Status of PSUs (Details) - Performance Stock Units [Member] - $ / shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
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, Number | 760,003 | 580,004 | 415,000 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 6.92 | $ 8.02 | $ 9.25 | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 397,500 | 417,500 | 415,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.38 | $ 7.24 | $ 9.25 | |
Forfeited during the period, Shares | (217,501) | (98,751) | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 7.04 | $ 8.17 | $ 0 | |
Vested during the period, Shares | 0 | (153,745) | 0 | |
Vested during the period, Weighted Average Grant Date Fair Value | $ 0 | $ 9.13 | $ 0 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Transition Tax For Accumulated Foreign Earnings, Provisional Liability | $ 9,500 | |||
Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Transition Tax For Accumulated Foreign Earnings, Reduced By Foreign Tax Credits | 6,500 | |||
Components of Deferred Tax Assets and Liabilities [Abstract] | ||||
Net operating loss carryforward | 168 | $ 155 | ||
Allowance for doubtful accounts | 272 | 519 | ||
Provision for accrued expenses and other, net | 1,300 | 2,947 | ||
Stock based compensation | 3,770 | 5,410 | ||
Deferred revenue | 920 | 283 | ||
Tax credit carryforward | 0 | 3,257 | ||
Deferred Tax Assets, Gross | 6,430 | 12,571 | ||
Less valuation allowance | 224 | 1,033 | ||
Deferred tax asset, net of valuation allowance | 6,206 | 11,538 | ||
Acquired intangibles | (10,933) | (14,602) | ||
Depreciation of fixed assets | (3,049) | (4,531) | ||
Deferred Tax Liabilities | (13,982) | (19,133) | ||
Deferred Tax Asset | 469 | 306 | ||
Deferred tax liability | (8,245) | (7,901) | ||
Net deferred tax liability | (7,776) | (7,595) | ||
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Federal | 1,984 | 5,048 | $ 10,201 | |
State | (285) | 931 | 1,491 | |
Foreign | 1,504 | 2,259 | 3,500 | |
Current Income Tax Expense | 3,203 | 8,238 | 15,192 | |
Federal | (207) | (891) | 998 | |
State | 329 | 192 | 405 | |
Foreign | 94 | (2,260) | (2,586) | |
Deferred Income Tax Expense (Benefit) | 216 | (2,959) | (1,183) | |
Income tax expense | 3,419 | 5,279 | 14,009 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||
Federal statutory rate | 6,789 | (42) | 1,064 | |
Gain on sale of subsidiary | (1,571) | 0 | 0 | |
Stock-based compensation | 1,414 | 0 | 0 | |
Nondeductible impairment | 0 | 5,287 | 9,199 | |
State taxes, net of federal effect | 35 | 756 | 1,435 | |
Difference between foreign and U.S. rates | (1,054) | 297 | 2,366 | |
Change in unrecognized tax benefits | 1,003 | (923) | 46 | |
Gross tax on foreign dividend | 275 | 5,084 | 0 | |
Tax credits related to foreign dividend | (275) | (4,244) | 0 | |
Tax Cuts and Jobs Act, Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 2,962 | 0 | 0 | |
Federal rate change impact on deferred tax liabilities | (3,281) | 0 | 0 | |
Research and development tax credits | (1,764) | 173 | 165 | |
Change in valuation allowance | (780) | (713) | 0 | |
Other | $ (334) | $ (50) | $ 64 | |
Effective tax rate | 17.60% | (4436.10%) | 460.70% | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Unrecognized Tax Benefits | $ 2,153 | $ 2,989 | $ 3,122 | |
Increases in tax positions related to current year | 278 | 117 | 169 | |
Increases in tax positions related to prior year | 646 | 0 | 76 | |
Decreases in tax positions related to prior year | 0 | (43) | 0 | |
Lapse of statute of limitations | (538) | (910) | (378) | |
Unrecognized Tax Benefits | 2,539 | 2,153 | 2,989 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | (41) | (86) | 177 | |
Unrecognized Tax Benefits, Gross | 2,700 | 2,900 | 4,200 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 320 | 361 | ||
Goodwill and Intangible Asset Impairment | $ 24,600 | 2,200 | 24,621 | 34,800 |
Non Deductible Impairment Charge | 15,400 | 33,600 | ||
Unrecognized Tax Benefits, Period Increase (Decrease) | (346) | 923 | (44) | |
Accrual for unrecognized tax benefits | 2,859 | $ 2,513 | $ 3,400 | |
Unrecognized Tax Benefits to be Recognized | $ 700 |
EMPLOYEE SAVINGS PLAN (Details)
EMPLOYEE SAVINGS PLAN (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retirement Benefits [Abstract] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 1,700 | $ 1,700 | $ 1,600 |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2017USD ($)segments | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Number of Reportable Segments | segments | 2 | ||||||||||
Revenues | $ 207,950 | $ 226,970 | $ 259,769 | ||||||||
Depreciation | 9,752 | 9,849 | 9,298 | ||||||||
Amortization of intangible assets | 2,138 | 6,787 | 13,894 | ||||||||
Operating income (loss) | $ 12,030 | $ 2,538 | $ 4,002 | $ 4,295 | $ 8,347 | $ (16,083) | $ 8,485 | $ 2,642 | 22,865 | 3,391 | 6,355 |
Interest expense | (3,445) | (3,481) | (3,289) | ||||||||
Other expense | (23) | (29) | (25) | ||||||||
Income (loss) before income taxes | 19,397 | (119) | 3,041 | ||||||||
Capital expenditures | 13,555 | 11,414 | 9,238 | ||||||||
Assets | 295,718 | 310,095 | 295,718 | 310,095 | 368,935 | ||||||
United States [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 154,406 | 167,855 | 185,847 | ||||||||
UNITED KINGDOM | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 22,247 | 23,969 | 36,841 | ||||||||
EMEA, APAC and Canada [Domain] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 31,297 | 35,146 | 37,081 | ||||||||
Non-US [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 53,544 | 59,115 | 73,922 | ||||||||
Tech & Clearance [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 158,398 | 170,599 | 177,195 | ||||||||
Depreciation | 6,868 | 7,060 | 7,044 | ||||||||
Amortization of intangible assets | 132 | 1,923 | 3,996 | ||||||||
Operating income (loss) | 38,462 | 54,066 | 54,234 | ||||||||
Capital expenditures | 10,481 | 7,545 | 6,261 | ||||||||
Assets | 266,390 | 263,462 | 266,390 | 263,462 | 277,273 | ||||||
Healthcare Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 24,354 | 27,066 | 25,877 | ||||||||
Depreciation | 1,625 | 2,089 | 1,599 | ||||||||
Amortization of intangible assets | 596 | 835 | 1,202 | ||||||||
Operating income (loss) | (1,507) | (929) | (490) | ||||||||
Capital expenditures | 1,160 | 1,113 | 2,350 | ||||||||
Assets | 0 | 14,375 | 0 | 14,375 | 18,134 | ||||||
Corporate & Other Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 25,198 | 29,305 | 56,697 | ||||||||
Depreciation | 1,259 | 700 | 655 | ||||||||
Amortization of intangible assets | 1,410 | 4,029 | 8,696 | ||||||||
Operating income (loss) | (14,090) | (49,746) | (47,389) | ||||||||
Capital expenditures | 1,914 | 2,756 | 627 | ||||||||
Assets | $ 29,328 | $ 32,258 | $ 29,328 | $ 32,258 | $ 73,528 |
SEGMENT INFORMATION (Carrying A
SEGMENT INFORMATION (Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | ||||
Goodwill, Gross | $ 170,791 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 171,745 | $ 198,598 | ||
Foreign currency translation adjustment | (5,315) | 11,484 | ||
Goodwill, ending balance | 170,791 | 171,745 | $ 198,598 | |
Impairment of goodwill | $ (15,369) | 0 | (15,369) | (34,818) |
Goodwill, Written off Related to Sale of Business Unit | (6,269) | |||
Tech & Clearance [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Goodwill, Gross | 157,477 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 152,162 | 163,646 | ||
Foreign currency translation adjustment | (5,315) | 11,484 | ||
Goodwill, ending balance | 157,477 | 152,162 | 163,646 | |
Impairment of goodwill | 0 | |||
Goodwill, Written off Related to Sale of Business Unit | 0 | |||
Healthcare Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Goodwill, Gross | 0 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 6,269 | 6,269 | ||
Foreign currency translation adjustment | 0 | 0 | ||
Goodwill, ending balance | 0 | 6,269 | 6,269 | |
Impairment of goodwill | 0 | |||
Goodwill, Written off Related to Sale of Business Unit | (6,269) | |||
Corporate & Other Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Goodwill, Gross | 13,314 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | |||
Goodwill [Roll Forward] | ||||
Goodwill, beginning balance | 13,314 | 28,683 | ||
Foreign currency translation adjustment | 0 | 0 | ||
Goodwill, ending balance | 13,314 | 13,314 | $ 28,683 | |
Impairment of goodwill | $ (15,369) | |||
Goodwill, Written off Related to Sale of Business Unit | $ 0 |
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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||||||||||
Weighted Average Number of Shares, excluded from computation | 800 | 1,300 | |||||||||
Income from continuing operations- basic and diluted | $ 11,758 | $ 1,058 | $ 1,822 | $ 1,340 | $ 5,478 | $ (16,841) | $ 4,854 | $ 1,111 | $ 15,978 | $ (5,398) | $ (10,968) |
Weighted average shares outstanding-basic | 47,908 | 48,319 | 51,402 | ||||||||
Weighted Average Number of Shares, Contingently Issuable | 322 | 0 | |||||||||
Weighted average diluted shares outstanding | 48,230 | 48,319 | 51,402 | ||||||||
Basic earnings (loss) per share (in dollars per share) | $ 0.24 | $ 0.02 | $ 0.04 | $ 0.03 | $ 0.12 | $ (0.35) | $ 0.10 | $ 0.02 | $ 0.33 | $ (0.11) | $ (0.21) |
Diluted earnings (loss) per share (in dollars per share) | $ 0.24 | $ 0.02 | $ 0.04 | $ 0.03 | $ 0.11 | $ (0.35) | $ 0.10 | $ 0.02 | $ 0.33 | $ (0.11) | $ (0.21) |
QUARTERLY RESULTS OF OPERATIO67
QUARTERLY RESULTS OF OPERATIONS (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Goodwill and Intangible Asset Impairment | $ 24,600 | $ 2,200 | $ 24,621 | $ 34,800 | |||||||
Revenue, Net | $ 50,936 | 52,424 | $ 52,400 | $ 52,190 | $ 54,938 | $ 56,073 | $ 57,673 | $ 58,286 | |||
Operating Expenses | 48,898 | 49,886 | 48,398 | 47,895 | 46,591 | 72,156 | 49,188 | 55,644 | |||
Other Operating Income | 9,992 | 0 | 0 | 0 | 9,992 | 0 | 0 | ||||
Operating income (loss) | 12,030 | 2,538 | 4,002 | 4,295 | 8,347 | (16,083) | 8,485 | 2,642 | 22,865 | 3,391 | 6,355 |
Net income (loss) | $ 11,758 | $ 1,058 | $ 1,822 | $ 1,340 | $ 5,478 | $ (16,841) | $ 4,854 | $ 1,111 | $ 15,978 | $ (5,398) | $ (10,968) |
Basic earnings (loss) per share (in dollars per share) | $ 0.24 | $ 0.02 | $ 0.04 | $ 0.03 | $ 0.12 | $ (0.35) | $ 0.10 | $ 0.02 | $ 0.33 | $ (0.11) | $ (0.21) |
Diluted earnings (loss) per share (in dollars per share) | $ 0.24 | $ 0.02 | $ 0.04 | $ 0.03 | $ 0.11 | $ (0.35) | $ 0.10 | $ 0.02 | $ 0.33 | $ (0.11) | $ (0.21) |
Impairment of goodwill | $ 15,369 | $ 0 | $ 15,369 | $ 34,818 |
CONSOLIDATED VALUATION AND QU68
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allowance for Doubtful Accounts [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance | $ 3,181 | $ 2,945 | $ 2,888 |
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | 1,556 | 1,435 | 1,718 |
Valuation Allowances and Reserves, Deductions | (3,049) | (1,199) | (1,661) |
Valuation Allowances and Reserves, Balance | 1,688 | 3,181 | 2,945 |
Valuation Allowance of Deferred Tax Assets [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance | 1,033 | 1,746 | 1,793 |
Valuation Allowances and Reserves, Additions for Charges to Cost and Expense | (809) | (713) | (47) |
Valuation Allowances and Reserves, Deductions | 0 | 0 | 0 |
Valuation Allowances and Reserves, Balance | $ 224 | $ 1,033 | $ 1,746 |