SS&C Technologies (SSNC) 10-Q 4 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	SSNC
Entity Registrant Name	SS&C Technologies Holdings Inc
Entity Central Index Key	1,402,436
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		205,427,232

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 90,370	$ 117,558
Accounts receivable, net of allowance for doubtful accounts of $8,553 and $5,944, respectively	235,811	241,307
Prepaid expenses and other current assets	32,875	31,119
Prepaid income taxes	18,032	23,012
Restricted cash	1,880	2,116
Total current assets	378,968	415,112
Property, plant and equipment:
Land	2,655	2,655
Building and improvements	59,455	42,749
Equipment, furniture, and fixtures	135,087	120,011
Total property and equipment	197,197	165,415
Less: accumulated depreciation	(96,289)	(85,020)
Net property, plant and equipment	100,908	80,395
Deferred income taxes	2,136	2,410
Goodwill (Note 3)	3,676,586	3,652,733
Intangible and other assets, net of accumulated amortization of $842,241 and $730,234, respectively	1,459,803	1,556,321
Total assets	5,618,401	5,706,971
Current liabilities:
Current portion of long-term debt (Note 2)	37,183	126,144
Accounts payable	32,668	16,490
Income taxes payable		3,473
Accrued employee compensation and benefits	60,846	104,118
Interest payable	16,156	21,470
Other accrued expenses	43,044	53,708
Deferred revenue	234,077	235,222
Total current liabilities	423,974	560,625
Long-term debt, net of current portion (Note 2)	2,261,791	2,374,986
Other long-term liabilities	81,770	59,227
Deferred income taxes	432,688	453,555
Total liabilities	3,200,223	3,448,393
Commitments and contingencies (Note 8)
Stockholders’ equity (Note 5):
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized; no shares issued
Common stock	2,069	2,046
Additional paid-in capital	1,975,311	1,921,256
Accumulated other comprehensive loss	(107,328)	(139,073)
Retained earnings	566,126	492,349
Stockholders' equity before treasury stock	2,436,178	2,276,578
Less: cost of common stock in treasury, 1,573,339 shares	(18,000)	(18,000)
Total stockholders’ equity	2,418,178	2,258,578
Total liabilities and stockholders’ equity	5,618,401	5,706,971
Class A Non-Voting Common Stock [Member]
Stockholders’ equity (Note 5):
Common stock

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts receivable	$ 8,553	$ 5,944
Accumulated amortization of finite-lived intangible assets	$ 842,241	$ 730,234
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	206,859,755	204,616,054
Common stock, shares outstanding	205,286,416	203,042,715
Common stock, shares unvested	4,626	11,252
Treasury stock, shares	1,573,339	1,573,339
Class A Non-Voting Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Software-enabled services	$ 272,518	$ 244,672	$ 548,970	$ 450,319
Maintenance and term licenses	113,614	103,392	224,171	198,512
Total recurring revenues	386,132	348,064	773,141	648,831
Perpetual licenses	3,822	5,039	6,650	10,254
Professional services	21,026	19,974	38,888	38,123
Total non-recurring revenues	24,848	25,013	45,538	48,377
Total revenues	410,980	373,077	818,679	697,208
Cost of revenues:
Software-enabled services	158,888	146,243	312,894	259,971
Maintenance and term licenses	47,280	46,460	94,265	93,406
Total recurring cost of revenues	206,168	192,703	407,159	353,377
Perpetual licenses	650	643	1,215	1,141
Professional services	16,874	17,133	32,777	32,645
Total non-recurring cost of revenues	17,524	17,776	33,992	33,786
Total cost of revenues	223,692	210,479	441,151	387,163
Gross profit	187,288	162,598	377,528	310,045
Operating expenses:
Selling and marketing	30,121	28,535	60,363	58,396
Research and development	39,079	40,827	77,528	77,274
General and administrative	28,103	27,199	59,935	57,894
Total operating expenses	97,303	96,561	197,826	193,564
Operating income	89,985	66,037	179,702	116,481
Interest expense, net	(26,295)	(32,846)	(55,315)	(65,935)
Other (expense) income, net	(1,197)	12	(1,268)	(1,835)
Loss on extinguishment of debt			(2,326)
Income before income taxes	62,493	33,203	120,793	48,711
Provision for income taxes	11,342	4,982	21,495	13,485
Net income	$ 51,151	$ 28,221	$ 99,298	$ 35,226
Basic earnings per share	$ 0.25	$ 0.14	$ 0.49	$ 0.18
Diluted earnings per share	$ 0.24	$ 0.14	$ 0.47	$ 0.17
Basic weighted average number of common shares outstanding	204,550	198,765	203,966	198,143
Diluted weighted average number of common and common equivalent shares outstanding	211,299	204,916	210,478	204,596
Cash dividends declared and paid per common share	$ 0.0625	$ 0.0625	$ 0.1250	$ 0.1250
Net income	$ 51,151	$ 28,221	$ 99,298	$ 35,226
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	20,966	(26,793)	31,745	(17,472)
Total comprehensive income (loss), net of tax	20,966	(26,793)	31,745	(17,472)
Comprehensive income	$ 72,117	$ 1,428	$ 131,043	$ 17,754

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flow from operating activities:
Net income	$ 99,298	$ 35,226
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	117,213	113,440
Stock-based compensation expense	21,278	27,913
Income tax benefit related to exercise of stock options		(23,760)
Amortization and write-offs of loan origination costs	5,281	5,312
Loss on extinguishment of debt	963
Loss on sale or disposition of property and equipment	12	150
Deferred income taxes	(14,970)	(24,056)
Provision for doubtful accounts	3,218	1,257
Changes in operating assets and liabilities, excluding effects from acquisitions:
Accounts receivable	3,411	(13,458)
Prepaid expenses and other assets	(1,326)	(1,516)
Accounts payable	14,895	7,870
Accrued expenses	(54,543)	(25,851)
Income taxes prepaid and payable	2,562	23,757
Deferred revenue	(3,471)	13,052
Net cash provided by operating activities	193,821	139,336
Cash flow from investing activities:
Additions to property and equipment	(19,368)	(13,593)
Proceeds from sale of property and equipment	1	43
Cash paid for business acquisitions, net of cash acquired	1,805	(317,554)
Additions to capitalized software	(5,636)	(3,306)
Purchase of long-term investment		(1,000)
Net cash used in investing activities	(23,198)	(335,410)
Cash flow from financing activities:
Cash received from debt borrowings	45,000
Repayments of debt	(253,400)	(155,325)
Proceeds from exercise of stock options	35,855	19,212
Withholding taxes related to equity award net share settlement	(3,057)	(4,615)
Income tax benefit related to exercise of stock options		23,760
Purchase of common stock for treasury		(11)
Payment of fees related to refinancing activities		(222)
Dividends paid on common stock	(25,521)	(24,790)
Net cash used in financing activities	(201,123)	(141,991)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3,076	(872)
Net decrease in cash, cash equivalents and restricted cash	(27,424)	(338,937)
Cash, cash equivalents and restricted cash, beginning of period	119,674	436,977
Cash, cash equivalents and restricted cash, end of period	92,250	$ 98,040
Supplemental disclosure of non-cash activities:
Property and equipment acquired through tenant improvement allowances	$ 10,846

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note 1—Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These accounting principles were applied on a basis consistent with those of the audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2017 (the “2016 Form 10-K”). In the opinion of the Company, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments (consisting of only normal recurring adjustments, except as noted elsewhere in the notes to the Condensed Consolidated Financial Statements) necessary for a fair statement of its financial position as of June 30, 2017, the results of its operations for the three and six months ended June 30, 2017 and 2016 and its cash flows for the six months ended June 30, 2017 and 2016. Certain prior year balances have been reclassified to conform to the current year presentation. Such reclassifications did not affect total revenues, operating income or net income. These statements do not include all of the information and footnotes required by GAAP for annual financial statements. The Condensed Consolidated Financial Statements contained herein should be read in conjunction with the audited Consolidated Financial Statements and footnotes as of and for the year ended December 31, 2016, which were included in the 2016 Form 10-K. The December 31, 2016 Consolidated Balance Sheet data were derived from audited financial statements but do not include all disclosures required by GAAP for annual financial statements. The results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of the expected results for any subsequent quarters or the full year. Recently Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows: Restricted Cash In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Recent Accounting Pronouncements Not Yet Effective In January 2017, the FASB issued ASU 2017-04, Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) recognize the majority of the Company’s operating lease commitments as operating lease liabilities and right-of-use assets upon adoption, which will result in a material increase in the assets and liabilities recorded on the Company’s Condensed Consolidated Balance Sheet. The Company is continuing its assessment, which may identify additional impacts this ASU will have on the Company’s Condensed Consolidated Financial Statements and related disclosures and internal controls over financial reporting. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Subsequent to the issuance of ASU 2014-09, the FASB has issued the following updates: ASU 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606) – Narrow-Scope Improvements and Practical Expedients Revenue from Contracts with Customers (Topic 606) – Technical Corrections and Improvements to Topic 606 The new revenue standard is expected to change the revenue recognition practices for the Company’s term software license arrangements. More specifically, the Company does not expect that the license component of the Company’s term license arrangements will be recognized ratably over the contractual term. The Company is continuing its assessment, which may identify additional impacts this ASU will have on the Company’s Condensed Consolidated Financial Statements and related disclosures and internal controls over financial reporting. The Company intends to adopt the new revenue standard effective January 1, 2018 using the modified retrospective approach .

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	Note 2—Debt At June 30, 2017 and December 31, 2016, debt consisted of the following (in thousands): June 30, 2017 December 31, 2016 Senior secured credit facilities, weighted-average interest rate of 3.41% and 3.94%, respectively $ 1,751,225 $ 1,865,625 5.875% senior notes due 2023 600,000 600,000 Senior secured credit facilities revolving portion, weighted-average interest rate of 0.00% and 3.50%, respectively — 94,000 Unamortized original issue discount and debt issuance costs (52,251) (58,495) 2,298,974 2,501,130 Less current portion of long-term debt 37,183 126,144 Long-term debt $ 2,261,791 $ 2,374,986 On March 2, 2017, the Company entered into an amendment (the “Amendment”) to the Company’s senior secured credit agreement dated July 8, 2015. Pursuant to the Amendment, the highest (non-default) interest rate margin applicable to Term Loan A was reduced from LIBOR plus 2.75% to LIBOR plus 1.75%, and the highest (non-default) interest rate margin applicable to Term Loan B was reduced from LIBOR plus 3.25% to LIBOR plus 2.25%. The LIBOR “floor” was also amended for the Term Loan A and the Term Loan B to be 0%. Subject to certain exceptions, in the event the Company and/or its subsidiaries enters into a transaction within six months from the Amendment Effective Date, the effect of which is to lower the “effective yield” of all or a portion of either the Term Loan A or the Term Loan B, the Company will pay to the applicable lenders a 1% prepayment premium on the loans subject to such transaction. No changes were made to the financial covenants, outstanding principal amounts or the scheduled amortization. The Amendment was evaluated in accordance with FASB Accounting Standards Codification 470-50, Debt-Modifications and Extinguishments , for debt modification and extinguishment accounting. The Company accounted for the debt re-pricing as a debt modification with respect to amounts that remained obligations of the same lender in the syndicate with minor changes in cash flows and as a debt extinguishment with respect to amounts that were obligations of lenders that exited the syndicate or remained in the syndicate but experienced a change in cash flows of greater than 10%. See section below. Loss on extinguishment of debt . The Company recorded a $2.3 million loss on extinguishment of debt in the three months ended March 31, 2017 in connection with the Amendment. The loss on early extinguishment of debt includes the write-off of a portion of the unamortized capitalized financing fees related to the senior secured credit facility for amounts accounted for as a debt extinguishment, as well as new financing fees related to the senior secured credit facility for amounts accounted for as a debt modification. Fair value of debt. The carrying amounts and fair values of financial instruments are as follows (in thousands): June 30, 2017 December 31, 2016 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 1,751,225 $ 1,756,679 $ 1,865,625 $ 1,887,043 5.875% senior notes due 2023 600,000 639,126 600,000 619,500 Senior secured credit facilities, revolving portion — — 94,000 93,883 The above fair values, which are Level 2 liabilities, were computed based on comparable quoted market prices. The fair values of cash, accounts receivable, net, short-term borrowings, and accounts payable approximate the carrying amounts due to the short-term maturities of these instruments.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 3—Goodwill The change in carrying value of goodwill as of and for the six months ended June 30, 2017 is as follows (in thousands): Balance at December 31, 2016 $ 3,652,733 Adjustments to prior acquisitions (621 ) Effect of foreign currency translation 24,474 Balance at June 30, 2017 $ 3,676,586

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings per Share	Note 4—Earnings per Share Earnings per share (“EPS”) is calculated in accordance with the relevant standards. Basic EPS includes no dilution and is computed by dividing net income available to the Company’s common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common and common equivalent shares outstanding during the period. Common equivalent shares consist of stock options, stock appreciation rights (“SARs”), restricted stock units (“RSUs”) and restricted stock awards (“RSAs”) using the treasury stock method. Common equivalent shares are excluded from the computation of diluted earnings per share if the effect of including such common equivalent shares is anti-dilutive because their total assumed proceeds exceed the average fair value of common stock for the period. The following table sets forth the computation of basic and diluted EPS (in thousands, except per share amounts): For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Net income 51,151 28,221 99,298 35,226 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 204,550 198,765 203,966 198,143 Weighted average common stock equivalents — options and restricted shares 6,749 6,151 6,512 6,453 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 211,299 204,916 210,478 204,596 Earnings per share - Basic $ 0.25 $ 0.14 $ 0.49 $ 0.18 Earnings per share - Diluted $ 0.24 $ 0.14 $ 0.47 $ 0.17 Weighted average stock options, SARs, RSUs and RSAs representing 11,207,110 and 7,304,581 shares were outstanding for the three months ended June 30, 2017 and 2016, respectively, and weighted average stock options, SARs, RSUs and RSAs representing 11,899,739 and 7,075,350 for six months ended June 30, 2017 and 2016 but were not included in the computation of diluted EPS because the effect of including them would be anti-dilutive. Dividends . In 2017, the Company paid a quarterly cash dividend of $0.0625 per share of common stock on March 15, 2017 and June 15, 2017 to stockholders of record as of the close of business on March 1, 2017 and June 1, 2017, totaling $25.5 million. In 2016, the Company paid a quarterly cash dividend of $0.0625 per share of common stock on March 15, 2016 and June 15, 2016 to stockholders of record as of the close of business on March 7, 2016 and June 1, 2016, totaling $24.8 million.

Equity and Stock-based Compensa

Equity and Stock-based Compensation	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Equity and Stock-based Compensation	Note 5—Equity and Stock-based Compensation Total stock options, SARs, RSUs and RSAs . The amount of stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income for three and six months ended June 30, 2017 and 2016 was as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, Consolidated Statements of Comprehensive Income Classification 2017 2016 2017 2016 Cost of software-enabled services $ 2,893 $ 2,779 $ 5,622 $ 5,184 Cost of maintenance and term licenses 523 700 1,087 1,511 Cost of recurring revenues 3,416 3,479 6,709 6,695 Cost of professional services 588 599 1,130 1,243 Cost of non-recurring revenues 588 599 1,130 1,243 Total cost of revenues 4,004 4,078 7,839 7,938 Selling and marketing 2,490 2,860 5,163 6,445 Research and development 1,718 2,182 3,705 4,398 General and administrative 2,166 3,446 4,571 9,132 Total operating expenses 6,374 8,488 13,439 19,975 Total stock-based compensation expense $ 10,378 $ 12,566 $ 21,278 $ 27,913 The following table summarizes stock option and SAR activity as of and for the six months ended June 30, 2017: Shares Outstanding at December 31, 2016 25,028,100 Granted 5,098,978 Cancelled/forfeited (819,662 ) Exercised (2,351,774 ) Outstanding at June 30, 2017 26,955,642 The following table summarizes RSU activity as of and for the six months ended June 30, 2017: Shares Outstanding at December 31, 2016 357,292 Granted - Cancelled/forfeited (14,798 ) Vested (136,900 ) Outstanding at June 30, 2017 205,594

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 6—Income Taxes The effective tax rate was 18% and 15% for the three months ended June 30, 2017 and 2016, respectively, and the effective tax rate was 18% and 28% for the six months ended June 30, 2017 and 2016, respectively. The change in the effective tax rate for the three months ended June 30, 2017 was primarily due to an increase in pre-tax income from domestic operations taxed at a high statutory rate, partially offset by the recognition of windfall tax benefits from stock awards as a component of the income tax provision in the current quarter. was primarily due to the recognition of windfall tax benefits from stock awards in the current year as a component of the income tax provision and the absence of unfavorable impact of a change in state apportionment on the Company’s domestic deferred tax liabilities as a result of the acquisition of Citigroup AIS in the first quarter of 2016, partially offset by the unfavorable impact from an increase in pre-tax income from domestic operations taxed at a high statutory rate.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions	Note 7—Acquisitions The following unaudited pro forma condensed consolidated results of operations are provided for illustrative purposes only and assume that the acquisitions of Conifer Financial Services LLC (“Conifer”), Wells Fargo's Global Fund Services business (“GFS”) and Citigroup’s Alternative Investor Services business occurred on January 1, 2015. This unaudited pro forma information (in thousands, except per share data) should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had actually occurred on that date, nor of the results that may be obtained in the future. For the Three Months Ended June 30, For the Six Months Ended June 30, 2016 2016 Revenues $ 403,640 $ 808,940 Net income $ 32,801 $ 50,164 Basic EPS $ 0.17 $ 0.25 Diluted EPS $ 0.16 $ 0.25 Basic weighted average number of common shares outstanding 198,765 198,143 Diluted weighted average number of common and common equivalent shares outstanding 204,916 204,596 During the first half of 2017, the Company received cash purchase price adjustments totaling $1.8 million related to the acquisitions of Conifer and GFS. This amount is reflected in “Cash paid for business acquisitions, net of cash acquired” for the six months ended June 30, 2017 on the Company’s Condensed Consolidated Statement of Cash Flows.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8—Commitments and Contingencies From time to time, the Company is subject to legal proceedings and claims. In the opinion of the Company's management, the Company is not involved in any litigation or proceedings that would have a material adverse effect on the Company or its business.

Supplemental Guarantor Financia

Supplemental Guarantor Financial Statements	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplemental Guarantor Financial Statements	Note 9—Supplemental Guarantor Financial Statements On July 8, 2015, the Company issued $600.0 million aggregate principal amount of 5.875% Senior Notes due 2023 (the “Senior Notes”). The Senior Notes are jointly and severally and fully and unconditionally guaranteed, in each case subject to certain customary release provisions, by substantially all wholly-owned domestic subsidiaries of the Company that guarantee the Company’s Amended Senior Secured Credit Agreement (collectively “Guarantors”). All of the Guarantors are 100% owned by the Company. All other subsidiaries of the Company, either direct or indirect, do not guarantee the Senior Notes (“Non-Guarantors”). The Guarantors also unconditionally guarantee the Amended Senior Secured Credit Agreement. There are no significant restrictions on the ability of the Company or any of the subsidiaries that are Guarantors to obtain funds from its subsidiaries by dividend or loan. During the three months ended March 31, 2017, the Company added certain U.S. subsidiaries as Guarantors to the Senior Notes. The condensed consolidating balance sheet as of December 31, 2016 below reflects the addition of these entities as Guarantor Subsidiaries. Condensed consolidating financial information as of June 30, 2017 and December 31, 2016 and for the three and six months ended June 30, 2017 and 2016 are presented. The condensed consolidating financial information of the Company and its subsidiaries are as follows (in thousands): June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 18,438 $ 71,932 $ — $ 90,370 Accounts receivable, net — 168,940 66,871 — 235,811 Prepaid expenses and other current assets — 19,803 13,072 — 32,875 Prepaid income taxes — 16,039 1,993 — 18,032 Restricted cash — 1,743 137 — 1,880 Net property, plant and equipment — 62,813 38,095 — 100,908 Investment in subsidiaries 3,087,894 853,526 — (3,941,420 ) — Intercompany receivables — 193,625 68,418 (262,043 ) — Deferred income taxes, long-term — — 2,136 — 2,136 Goodwill, intangible and other assets, net — 3,944,982 1,191,407 — 5,136,389 Total assets $ 3,087,894 $ 5,279,909 $ 1,454,061 $ (4,203,463 ) $ 5,618,401 Current portion of long-term debt — 14,432 22,751 — 37,183 Accounts payable — 23,171 9,497 — 32,668 Accrued expenses 16,156 62,368 41,522 — 120,046 Deferred revenue — 206,068 28,009 — 234,077 Long-term debt, net of current portion 600,000 1,377,619 284,172 — 2,261,791 Other long-term liabilities — 47,656 34,114 — 81,770 Intercompany payables 53,560 68,418 140,065 (262,043 ) — Deferred income taxes, long-term — 392,283 40,405 — 432,688 Total liabilities 669,716 2,192,015 600,535 (262,043 ) 3,200,223 Total stockholders’ equity 2,418,178 3,087,894 853,526 (3,941,420 ) 2,418,178 Total liabilities and stockholders’ equity $ 3,087,894 $ 5,279,909 $ 1,454,061 $ (4,203,463 ) $ 5,618,401 December 31, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 33,723 $ 83,835 $ — $ 117,558 Accounts receivable, net — 174,927 66,380 — 241,307 Prepaid expenses and other current assets — 18,129 12,990 — 31,119 Prepaid income taxes — 21,600 1,412 — 23,012 Restricted cash — 1,788 328 — 2,116 Net property, plant and equipment — 42,358 38,037 — 80,395 Investment in subsidiaries 2,910,669 769,716 — (3,680,385 ) — Intercompany receivables — 162,791 39,894 (202,685 ) — Deferred income taxes, long-term — — 2,410 — 2,410 Goodwill, intangible and other assets, net — 4,021,445 1,187,609 — 5,209,054 Total assets $ 2,910,669 $ 5,246,477 $ 1,432,895 $ (3,883,070 ) $ 5,706,971 Current portion of long-term debt — 108,989 17,155 — 126,144 Accounts payable — 10,714 5,776 — 16,490 Accrued expenses 16,155 109,746 53,395 — 179,296 Income taxes payable — — 3,473 — 3,473 Deferred revenue — 212,890 22,332 — 235,222 Long-term debt, net of current portion 600,000 1,416,695 358,291 — 2,374,986 Other long-term liabilities — 29,827 29,400 — 59,227 Intercompany payables 35,936 39,894 126,855 (202,685 ) — Deferred income taxes, long-term — 407,053 46,502 — 453,555 Total liabilities 652,091 2,335,808 663,179 (202,685 ) 3,448,393 Total stockholders’ equity 2,258,578 2,910,669 769,716 (3,680,385 ) 2,258,578 Total liabilities and stockholders’ equity $ 2,910,669 $ 5,246,477 $ 1,432,895 $ (3,883,070 ) $ 5,706,971 For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 290,036 $ 121,432 $ (488 ) $ 410,980 Cost of revenues — 150,783 73,397 (488 ) 223,692 Gross profit — 139,253 48,035 — 187,288 Operating expenses: Selling and marketing — 22,708 7,413 — 30,121 Research and development — 27,227 11,852 — 39,079 General and administrative — 19,772 8,331 — 28,103 Total operating expenses — 69,707 27,596 — 97,303 Operating income — 69,546 20,439 — 89,985 Interest expense, net (8,812 ) (13,018 ) (4,465 ) — (26,295 ) Other (expense) income, net — (15,448 ) 14,251 — (1,197 ) Earnings from subsidiaries 59,963 26,063 — (86,026 ) — Income before income taxes 51,151 67,143 30,225 (86,026 ) 62,493 Provision for income taxes — 7,180 4,162 — 11,342 Net income $ 51,151 $ 59,963 $ 26,063 $ (86,026 ) $ 51,151 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 20,966 20,966 18,898 (39,864 ) 20,966 Comprehensive income $ 72,117 $ 80,929 $ 44,961 $ (125,890 ) $ 72,117 For the Three Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 257,316 $ 116,184 $ (423 ) $ 373,077 Cost of revenues — 138,262 72,640 (423 ) 210,479 Gross profit — 119,054 43,544 — 162,598 Operating expenses: Selling and marketing — 21,118 7,417 — 28,535 Research and development — 28,853 11,974 — 40,827 General and administrative — 18,602 8,597 — 27,199 Total operating expenses — 68,573 27,988 — 96,561 Operating income — 50,481 15,556 — 66,037 Interest expense, net (8,813 ) (17,548 ) (6,485 ) — (32,846 ) Other (expense) income, net — (17,617 ) 17,629 — 12 Earnings from subsidiaries 37,034 23,523 — (60,557 ) — Income before income taxes 28,221 38,839 26,700 (60,557 ) 33,203 Provision for income taxes — 1,805 3,177 — 4,982 Net income $ 28,221 $ 37,034 $ 23,523 $ (60,557 ) $ 28,221 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (26,793 ) (26,793 ) (27,221 ) 54,014 (26,793 ) Comprehensive income (loss) $ 1,428 $ 10,241 $ (3,698 ) $ (6,543 ) $ 1,428 For the Six Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 576,069 $ 243,532 $ (922 ) $ 818,679 Cost of revenues — 295,539 146,534 (922 ) 441,151 Gross profit — 280,530 96,998 — 377,528 Operating expenses: Selling and marketing — 45,334 15,029 — 60,363 Research and development — 54,396 23,132 — 77,528 General and administrative — 42,380 17,555 — 59,935 Total operating expenses — 142,110 55,716 — 197,826 Operating income — 138,420 41,282 — 179,702 Interest expense, net (17,626 ) (28,020 ) (9,669 ) — (55,315 ) Other (expense) income, net — (33,179 ) 31,911 — (1,268 ) Loss on extinguishment of debt — (1,743 ) (583 ) — (2,326 ) Earnings from subsidiaries 116,924 54,692 — (171,616 ) — Income before income taxes 99,298 130,170 62,941 (171,616 ) 120,793 Provision for income taxes — 13,246 8,249 — 21,495 Net income $ 99,298 $ 116,924 $ 54,692 $ (171,616 ) $ 99,298 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 31,745 31,745 29,007 (60,752 ) 31,745 Comprehensive income $ 131,043 $ 148,669 $ 83,699 $ (232,368 ) $ 131,043 For the Six Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 476,305 $ 221,768 $ (865 ) $ 697,208 Cost of revenues — 251,764 136,264 (865 ) 387,163 Gross profit — 224,541 85,504 — 310,045 Operating expenses: Selling and marketing — 43,865 14,531 — 58,396 Research and development — 54,218 23,056 — 77,274 General and administrative — 41,081 16,813 — 57,894 Total operating expenses — 139,164 54,400 — 193,564 Operating income — 85,377 31,104 — 116,481 Interest expense, net (17,461 ) (35,466 ) (13,008 ) — (65,935 ) Other (expense) income, net — (32,017 ) 30,182 — (1,835 ) Earnings from subsidiaries 52,687 41,360 — (94,047 ) — Income before income taxes 35,226 59,254 48,278 (94,047 ) 48,711 Provision for income taxes — 6,567 6,918 — 13,485 Net income $ 35,226 $ 52,687 $ 41,360 $ (94,047 ) $ 35,226 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (17,472 ) (17,472 ) (22,449 ) 39,921 (17,472 ) Comprehensive income $ 17,754 $ 35,215 $ 18,911 $ (54,126 ) $ 17,754 For the Six Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 99,298 $ 116,924 $ 54,692 $ (171,616 ) $ 99,298 Non-cash adjustments — 100,927 32,068 — 132,995 Intercompany transactions 17,626 4,012 (21,638 ) — — Earnings from subsidiaries (116,924 ) (54,692 ) — 171,616 — Changes in operating assets and liabilities — (33,169 ) (5,303 ) — (38,472 ) Net cash provided by operating activities — 134,002 59,819 — 193,821 Cash Flow from Investment Activities: Additions to property and equipment — (16,021 ) (3,347 ) — (19,368 ) Proceeds from sale of property and equipment — 1 — — 1 Cash paid for business acquisitions, net of cash acquired — 1,802 3 — 1,805 Additions to capitalized software — (4,078 ) (1,558 ) — (5,636 ) Net cash used in investing activities — (18,296 ) (4,902 ) — (23,198 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (183,200 ) (70,200 ) — (253,400 ) Transactions involving Holding's common stock — 7,279 (2 ) — 7,277 Intercompany transactions — (115 ) 115 — — Net cash used in financing activities — (131,036 ) (70,087 ) — (201,123 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 3,076 — 3,076 Net decrease in cash, cash equivalents and restricted cash — (15,330 ) (12,094 ) — (27,424 ) Cash, cash equivalents and restricted cash, beginning of period — 35,511 84,163 — 119,674 Cash, cash equivalents and restricted cash, end of period $ — $ 20,181 $ 72,069 $ — $ 92,250 For the Six Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 35,226 $ 52,687 $ 41,360 $ (94,047 ) $ 35,226 Non-cash adjustments — 70,450 29,806 — 100,256 Intercompany transactions 18,310 (11,902 ) (6,408 ) — — Earnings from subsidiaries (52,687 ) (41,360 ) — 94,047 — Changes in operating assets and liabilities (849 ) 14,399 (9,696 ) — 3,854 Net cash provided by operating activities — 84,274 55,062 — 139,336 Cash Flow from Investment Activities: Additions to property and equipment — (5,080 ) (8,513 ) — (13,593 ) Proceeds from sale of property and equipment — 95 (52 ) — 43 Cash paid for business acquisitions, net of cash acquired — (219,276 ) (98,278 ) — (317,554 ) Additions to capitalized software — (1,879 ) (1,427 ) — (3,306 ) Purchase of long-term investment — (1,000 ) — — (1,000 ) Net cash used in investing activities — (227,140 ) (108,270 ) — (335,410 ) Cash Flow from Financing Activities: Repayments of debt — (115,500 ) (39,825 ) — (155,325 ) Transactions involving Holding's common stock — 13,556 — — 13,556 Intercompany transactions — (90,798 ) 90,798 — — Payment of fees related to refinancing activities — (222 ) — — (222 ) Net cash (used in) provided by financing activities — (192,964 ) 50,973 — (141,991 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (872 ) — (872 ) Net decrease in cash, cash equivalents and restricted cash — (335,830 ) (3,107 ) — (338,937 ) Cash, cash equivalents and restricted cash, beginning of period — 363,073 73,904 — 436,977 Cash, cash equivalents and restricted cash, end of period $ — $ 27,243 $ 70,797 $ — $ 98,040

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows: Restricted Cash In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting
Recent Accounting Pronouncements Not Yet Effective	Recent Accounting Pronouncements Not Yet Effective In January 2017, the FASB issued ASU 2017-04, Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) recognize the majority of the Company’s operating lease commitments as operating lease liabilities and right-of-use assets upon adoption, which will result in a material increase in the assets and liabilities recorded on the Company’s Condensed Consolidated Balance Sheet. The Company is continuing its assessment, which may identify additional impacts this ASU will have on the Company’s Condensed Consolidated Financial Statements and related disclosures and internal controls over financial reporting. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Subsequent to the issuance of ASU 2014-09, the FASB has issued the following updates: ASU 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606) – Narrow-Scope Improvements and Practical Expedients Revenue from Contracts with Customers (Topic 606) – Technical Corrections and Improvements to Topic 606 The new revenue standard is expected to change the revenue recognition practices for the Company’s term software license arrangements. More specifically, the Company does not expect that the license component of the Company’s term license arrangements will be recognized ratably over the contractual term. The Company is continuing its assessment, which may identify additional impacts this ASU will have on the Company’s Condensed Consolidated Financial Statements and related disclosures and internal controls over financial reporting. The Company intends to adopt the new revenue standard effective January 1, 2018 using the modified retrospective approach .

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Component of Debt	At June 30, 2017 and December 31, 2016, debt consisted of the following (in thousands): June 30, 2017 December 31, 2016 Senior secured credit facilities, weighted-average interest rate of 3.41% and 3.94%, respectively $ 1,751,225 $ 1,865,625 5.875% senior notes due 2023 600,000 600,000 Senior secured credit facilities revolving portion, weighted-average interest rate of 0.00% and 3.50%, respectively — 94,000 Unamortized original issue discount and debt issuance costs (52,251) (58,495) 2,298,974 2,501,130 Less current portion of long-term debt 37,183 126,144 Long-term debt $ 2,261,791 $ 2,374,986
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of financial instruments are as follows (in thousands): June 30, 2017 December 31, 2016 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 1,751,225 $ 1,756,679 $ 1,865,625 $ 1,887,043 5.875% senior notes due 2023 600,000 639,126 600,000 619,500 Senior secured credit facilities, revolving portion — — 94,000 93,883

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Change in Carrying Value of Goodwill	The change in carrying value of goodwill as of and for the six months ended June 30, 2017 is as follows (in thousands): Balance at December 31, 2016 $ 3,652,733 Adjustments to prior acquisitions (621 ) Effect of foreign currency translation 24,474 Balance at June 30, 2017 $ 3,676,586

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table sets forth the computation of basic and diluted EPS (in thousands, except per share amounts): For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Net income 51,151 28,221 99,298 35,226 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 204,550 198,765 203,966 198,143 Weighted average common stock equivalents — options and restricted shares 6,749 6,151 6,512 6,453 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 211,299 204,916 210,478 204,596 Earnings per share - Basic $ 0.25 $ 0.14 $ 0.49 $ 0.18 Earnings per share - Diluted $ 0.24 $ 0.14 $ 0.47 $ 0.17

Equity and Stock-based Compen19

Equity and Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Stock-Based Compensation Expense Recognized	Total stock options, SARs, RSUs and RSAs . The amount of stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income for three and six months ended June 30, 2017 and 2016 was as follows (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, Consolidated Statements of Comprehensive Income Classification 2017 2016 2017 2016 Cost of software-enabled services $ 2,893 $ 2,779 $ 5,622 $ 5,184 Cost of maintenance and term licenses 523 700 1,087 1,511 Cost of recurring revenues 3,416 3,479 6,709 6,695 Cost of professional services 588 599 1,130 1,243 Cost of non-recurring revenues 588 599 1,130 1,243 Total cost of revenues 4,004 4,078 7,839 7,938 Selling and marketing 2,490 2,860 5,163 6,445 Research and development 1,718 2,182 3,705 4,398 General and administrative 2,166 3,446 4,571 9,132 Total operating expenses 6,374 8,488 13,439 19,975 Total stock-based compensation expense $ 10,378 $ 12,566 $ 21,278 $ 27,913
Summary of Stock Option and SAR Activity	The following table summarizes stock option and SAR activity as of and for the six months ended June 30, 2017: Shares Outstanding at December 31, 2016 25,028,100 Granted 5,098,978 Cancelled/forfeited (819,662 ) Exercised (2,351,774 ) Outstanding at June 30, 2017 26,955,642
Summary of RSU Activity	The following table summarizes RSU activity as of and for the six months ended June 30, 2017: Shares Outstanding at December 31, 2016 357,292 Granted - Cancelled/forfeited (14,798 ) Vested (136,900 ) Outstanding at June 30, 2017 205,594

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Summary of Unaudited Pro Forma Information	The following unaudited pro forma condensed consolidated results of operations are provided for illustrative purposes only and assume that the acquisitions of Conifer Financial Services LLC (“Conifer”), Wells Fargo's Global Fund Services business (“GFS”) and Citigroup’s Alternative Investor Services business occurred on January 1, 2015. This unaudited pro forma information (in thousands, except per share data) should not be relied upon as being indicative of the historical results that would have been obtained if the acquisitions had actually occurred on that date, nor of the results that may be obtained in the future. For the Three Months Ended June 30, For the Six Months Ended June 30, 2016 2016 Revenues $ 403,640 $ 808,940 Net income $ 32,801 $ 50,164 Basic EPS $ 0.17 $ 0.25 Diluted EPS $ 0.16 $ 0.25 Basic weighted average number of common shares outstanding 198,765 198,143 Diluted weighted average number of common and common equivalent shares outstanding 204,916 204,596

Supplemental Guarantor Financ21

Supplemental Guarantor Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule Of Condensed Consolidating Financial Information	The condensed consolidating financial information of the Company and its subsidiaries are as follows (in thousands): June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 18,438 $ 71,932 $ — $ 90,370 Accounts receivable, net — 168,940 66,871 — 235,811 Prepaid expenses and other current assets — 19,803 13,072 — 32,875 Prepaid income taxes — 16,039 1,993 — 18,032 Restricted cash — 1,743 137 — 1,880 Net property, plant and equipment — 62,813 38,095 — 100,908 Investment in subsidiaries 3,087,894 853,526 — (3,941,420 ) — Intercompany receivables — 193,625 68,418 (262,043 ) — Deferred income taxes, long-term — — 2,136 — 2,136 Goodwill, intangible and other assets, net — 3,944,982 1,191,407 — 5,136,389 Total assets $ 3,087,894 $ 5,279,909 $ 1,454,061 $ (4,203,463 ) $ 5,618,401 Current portion of long-term debt — 14,432 22,751 — 37,183 Accounts payable — 23,171 9,497 — 32,668 Accrued expenses 16,156 62,368 41,522 — 120,046 Deferred revenue — 206,068 28,009 — 234,077 Long-term debt, net of current portion 600,000 1,377,619 284,172 — 2,261,791 Other long-term liabilities — 47,656 34,114 — 81,770 Intercompany payables 53,560 68,418 140,065 (262,043 ) — Deferred income taxes, long-term — 392,283 40,405 — 432,688 Total liabilities 669,716 2,192,015 600,535 (262,043 ) 3,200,223 Total stockholders’ equity 2,418,178 3,087,894 853,526 (3,941,420 ) 2,418,178 Total liabilities and stockholders’ equity $ 3,087,894 $ 5,279,909 $ 1,454,061 $ (4,203,463 ) $ 5,618,401 December 31, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 33,723 $ 83,835 $ — $ 117,558 Accounts receivable, net — 174,927 66,380 — 241,307 Prepaid expenses and other current assets — 18,129 12,990 — 31,119 Prepaid income taxes — 21,600 1,412 — 23,012 Restricted cash — 1,788 328 — 2,116 Net property, plant and equipment — 42,358 38,037 — 80,395 Investment in subsidiaries 2,910,669 769,716 — (3,680,385 ) — Intercompany receivables — 162,791 39,894 (202,685 ) — Deferred income taxes, long-term — — 2,410 — 2,410 Goodwill, intangible and other assets, net — 4,021,445 1,187,609 — 5,209,054 Total assets $ 2,910,669 $ 5,246,477 $ 1,432,895 $ (3,883,070 ) $ 5,706,971 Current portion of long-term debt — 108,989 17,155 — 126,144 Accounts payable — 10,714 5,776 — 16,490 Accrued expenses 16,155 109,746 53,395 — 179,296 Income taxes payable — — 3,473 — 3,473 Deferred revenue — 212,890 22,332 — 235,222 Long-term debt, net of current portion 600,000 1,416,695 358,291 — 2,374,986 Other long-term liabilities — 29,827 29,400 — 59,227 Intercompany payables 35,936 39,894 126,855 (202,685 ) — Deferred income taxes, long-term — 407,053 46,502 — 453,555 Total liabilities 652,091 2,335,808 663,179 (202,685 ) 3,448,393 Total stockholders’ equity 2,258,578 2,910,669 769,716 (3,680,385 ) 2,258,578 Total liabilities and stockholders’ equity $ 2,910,669 $ 5,246,477 $ 1,432,895 $ (3,883,070 ) $ 5,706,971 For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 290,036 $ 121,432 $ (488 ) $ 410,980 Cost of revenues — 150,783 73,397 (488 ) 223,692 Gross profit — 139,253 48,035 — 187,288 Operating expenses: Selling and marketing — 22,708 7,413 — 30,121 Research and development — 27,227 11,852 — 39,079 General and administrative — 19,772 8,331 — 28,103 Total operating expenses — 69,707 27,596 — 97,303 Operating income — 69,546 20,439 — 89,985 Interest expense, net (8,812 ) (13,018 ) (4,465 ) — (26,295 ) Other (expense) income, net — (15,448 ) 14,251 — (1,197 ) Earnings from subsidiaries 59,963 26,063 — (86,026 ) — Income before income taxes 51,151 67,143 30,225 (86,026 ) 62,493 Provision for income taxes — 7,180 4,162 — 11,342 Net income $ 51,151 $ 59,963 $ 26,063 $ (86,026 ) $ 51,151 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 20,966 20,966 18,898 (39,864 ) 20,966 Comprehensive income $ 72,117 $ 80,929 $ 44,961 $ (125,890 ) $ 72,117 For the Three Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 257,316 $ 116,184 $ (423 ) $ 373,077 Cost of revenues — 138,262 72,640 (423 ) 210,479 Gross profit — 119,054 43,544 — 162,598 Operating expenses: Selling and marketing — 21,118 7,417 — 28,535 Research and development — 28,853 11,974 — 40,827 General and administrative — 18,602 8,597 — 27,199 Total operating expenses — 68,573 27,988 — 96,561 Operating income — 50,481 15,556 — 66,037 Interest expense, net (8,813 ) (17,548 ) (6,485 ) — (32,846 ) Other (expense) income, net — (17,617 ) 17,629 — 12 Earnings from subsidiaries 37,034 23,523 — (60,557 ) — Income before income taxes 28,221 38,839 26,700 (60,557 ) 33,203 Provision for income taxes — 1,805 3,177 — 4,982 Net income $ 28,221 $ 37,034 $ 23,523 $ (60,557 ) $ 28,221 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (26,793 ) (26,793 ) (27,221 ) 54,014 (26,793 ) Comprehensive income (loss) $ 1,428 $ 10,241 $ (3,698 ) $ (6,543 ) $ 1,428 For the Six Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 576,069 $ 243,532 $ (922 ) $ 818,679 Cost of revenues — 295,539 146,534 (922 ) 441,151 Gross profit — 280,530 96,998 — 377,528 Operating expenses: Selling and marketing — 45,334 15,029 — 60,363 Research and development — 54,396 23,132 — 77,528 General and administrative — 42,380 17,555 — 59,935 Total operating expenses — 142,110 55,716 — 197,826 Operating income — 138,420 41,282 — 179,702 Interest expense, net (17,626 ) (28,020 ) (9,669 ) — (55,315 ) Other (expense) income, net — (33,179 ) 31,911 — (1,268 ) Loss on extinguishment of debt — (1,743 ) (583 ) — (2,326 ) Earnings from subsidiaries 116,924 54,692 — (171,616 ) — Income before income taxes 99,298 130,170 62,941 (171,616 ) 120,793 Provision for income taxes — 13,246 8,249 — 21,495 Net income $ 99,298 $ 116,924 $ 54,692 $ (171,616 ) $ 99,298 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 31,745 31,745 29,007 (60,752 ) 31,745 Comprehensive income $ 131,043 $ 148,669 $ 83,699 $ (232,368 ) $ 131,043 For the Six Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 476,305 $ 221,768 $ (865 ) $ 697,208 Cost of revenues — 251,764 136,264 (865 ) 387,163 Gross profit — 224,541 85,504 — 310,045 Operating expenses: Selling and marketing — 43,865 14,531 — 58,396 Research and development — 54,218 23,056 — 77,274 General and administrative — 41,081 16,813 — 57,894 Total operating expenses — 139,164 54,400 — 193,564 Operating income — 85,377 31,104 — 116,481 Interest expense, net (17,461 ) (35,466 ) (13,008 ) — (65,935 ) Other (expense) income, net — (32,017 ) 30,182 — (1,835 ) Earnings from subsidiaries 52,687 41,360 — (94,047 ) — Income before income taxes 35,226 59,254 48,278 (94,047 ) 48,711 Provision for income taxes — 6,567 6,918 — 13,485 Net income $ 35,226 $ 52,687 $ 41,360 $ (94,047 ) $ 35,226 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (17,472 ) (17,472 ) (22,449 ) 39,921 (17,472 ) Comprehensive income $ 17,754 $ 35,215 $ 18,911 $ (54,126 ) $ 17,754 For the Six Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 99,298 $ 116,924 $ 54,692 $ (171,616 ) $ 99,298 Non-cash adjustments — 100,927 32,068 — 132,995 Intercompany transactions 17,626 4,012 (21,638 ) — — Earnings from subsidiaries (116,924 ) (54,692 ) — 171,616 — Changes in operating assets and liabilities — (33,169 ) (5,303 ) — (38,472 ) Net cash provided by operating activities — 134,002 59,819 — 193,821 Cash Flow from Investment Activities: Additions to property and equipment — (16,021 ) (3,347 ) — (19,368 ) Proceeds from sale of property and equipment — 1 — — 1 Cash paid for business acquisitions, net of cash acquired — 1,802 3 — 1,805 Additions to capitalized software — (4,078 ) (1,558 ) — (5,636 ) Net cash used in investing activities — (18,296 ) (4,902 ) — (23,198 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (183,200 ) (70,200 ) — (253,400 ) Transactions involving Holding's common stock — 7,279 (2 ) — 7,277 Intercompany transactions — (115 ) 115 — — Net cash used in financing activities — (131,036 ) (70,087 ) — (201,123 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 3,076 — 3,076 Net decrease in cash, cash equivalents and restricted cash — (15,330 ) (12,094 ) — (27,424 ) Cash, cash equivalents and restricted cash, beginning of period — 35,511 84,163 — 119,674 Cash, cash equivalents and restricted cash, end of period $ — $ 20,181 $ 72,069 $ — $ 92,250 For the Six Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 35,226 $ 52,687 $ 41,360 $ (94,047 ) $ 35,226 Non-cash adjustments — 70,450 29,806 — 100,256 Intercompany transactions 18,310 (11,902 ) (6,408 ) — — Earnings from subsidiaries (52,687 ) (41,360 ) — 94,047 — Changes in operating assets and liabilities (849 ) 14,399 (9,696 ) — 3,854 Net cash provided by operating activities — 84,274 55,062 — 139,336 Cash Flow from Investment Activities: Additions to property and equipment — (5,080 ) (8,513 ) — (13,593 ) Proceeds from sale of property and equipment — 95 (52 ) — 43 Cash paid for business acquisitions, net of cash acquired — (219,276 ) (98,278 ) — (317,554 ) Additions to capitalized software — (1,879 ) (1,427 ) — (3,306 ) Purchase of long-term investment — (1,000 ) — — (1,000 ) Net cash used in investing activities — (227,140 ) (108,270 ) — (335,410 ) Cash Flow from Financing Activities: Repayments of debt — (115,500 ) (39,825 ) — (155,325 ) Transactions involving Holding's common stock — 13,556 — — 13,556 Intercompany transactions — (90,798 ) 90,798 — — Payment of fees related to refinancing activities — (222 ) — — (222 ) Net cash (used in) provided by financing activities — (192,964 ) 50,973 — (141,991 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (872 ) — (872 ) Net decrease in cash, cash equivalents and restricted cash — (335,830 ) (3,107 ) — (338,937 ) Cash, cash equivalents and restricted cash, beginning of period — 363,073 73,904 — 436,977 Cash, cash equivalents and restricted cash, end of period $ — $ 27,243 $ 70,797 $ — $ 98,040

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
ASU 2016-09 [Member] | Discrete Tax Benefits Recognized in Provision for Income Taxes [Member]
Accounting Policies [Line Items]
Discrete tax benefits due to adoption of new ASU	$ 5	$ 10.1

Debt - Component of Debt (Detai

Debt - Component of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Unamortized original issue discount and debt issuance costs	$ (52,251)	$ (58,495)
Debt	2,298,974	2,501,130
Less current portion of long-term debt	37,183	126,144
Long-term debt	2,261,791	2,374,986
Senior Secured Credit Facilities Revolving Portion [Member]
Debt Instrument [Line Items]
Long-term debt gross		94,000
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term debt gross	1,751,225	1,865,625
Senior Notes [Member] | 5.875% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 600,000	$ 600,000

Debt - Component of Debt (Paren

Debt - Component of Debt (Parenthetical) (Detail)	Jul. 08, 2015	Jun. 30, 2017	Dec. 31, 2016
Senior Secured Credit Facilities Revolving Portion [Member]
Debt Instrument [Line Items]
Debt, weighted-average interest rate of credit facility		0.00%	3.50%
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Debt, weighted-average interest rate of credit facility		3.41%	3.94%
Senior Notes [Member] | 5.875% Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Debt, interest rate	5.875%	5.875%	5.875%
Debt, due date	2,023	2,023

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 02, 2017	Mar. 31, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ (2,300)	$ (2,326)
Minimum [Member]
Debt Instrument [Line Items]
Percentage of change in cash flows due to debt extinguishment obligation			10.00%
Amended Senior Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Period of transaction to be entered from amendment effective date	6 months
Debt instrument, prepayment premium percentage	1.00%
Term Loan A [Member] | LIBOR Plus [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.75%
Term Loan A [Member] | Amended Senior Secured Credit Agreement [Member] | LIBOR Plus [Member]
Debt Instrument [Line Items]
Debt instrument, floor rate	0.00%
Term Loan A [Member] | Amended Senior Secured Credit Agreement [Member] | LIBOR Plus [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Term Loan B [Member] | LIBOR Plus [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.25%
Term Loan B [Member] | Amended Senior Secured Credit Agreement [Member] | LIBOR Plus [Member]
Debt Instrument [Line Items]
Debt instrument, floor rate	0.00%
Term Loan B [Member] | Amended Senior Secured Credit Agreement [Member] | LIBOR Plus [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%

Debt - Schedule of Carrying Amo

Debt - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Carrying Amount [Member] | Senior Secured Credit Facilities [Member]
Financial liabilities:
Credit facility	$ 1,751,225	$ 1,865,625
Carrying Amount [Member] | 5.875% Senior Notes due 2023 [Member]
Financial liabilities:
Senior notes	600,000	600,000
Carrying Amount [Member] | Senior Secured Credit Facilities Revolving Portion [Member]
Financial liabilities:
Long-term debt gross		94,000
Fair Value [Member] | Senior Secured Credit Facilities [Member]
Financial liabilities:
Credit facility	1,756,679	1,887,043
Fair Value [Member] | 5.875% Senior Notes due 2023 [Member]
Financial liabilities:
Credit facility	$ 639,126	619,500
Fair Value [Member] | Senior Secured Credit Facilities Revolving Portion [Member]
Financial liabilities:
Credit facility		$ 93,883

Goodwill - Summary of Change in

Goodwill - Summary of Change in Carrying Value of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 3,652,733
Adjustments to prior acquisitions	(621)
Effect of foreign currency translation	24,474
Ending balance	$ 3,676,586

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Net income	$ 51,151	$ 28,221	$ 99,298	$ 35,226
Shares:
Weighted average common shares outstanding — used in calculation of basic EPS	204,550	198,765	203,966	198,143
Weighted average common stock equivalents — options and restricted shares	6,749	6,151	6,512	6,453
Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS	211,299	204,916	210,478	204,596
Earnings per share - Basic	$ 0.25	$ 0.14	$ 0.49	$ 0.18
Earnings per share - Diluted	$ 0.24	$ 0.14	$ 0.47	$ 0.17

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Line Items]
Dividends paid on common stock			$ 25,521	$ 24,790
First Quarter Dividend [Member]
Earnings Per Share [Line Items]
Quarterly cash dividend paid			$ 0.0625	$ 0.0625
Dividend record date			Mar. 1, 2017	Mar. 7, 2016
Dividend paid date			Mar. 15, 2017	Mar. 15, 2016
Second Quarter Dividend [Member]
Earnings Per Share [Line Items]
Quarterly cash dividend paid			$ 0.0625	$ 0.0625
Dividend record date			Jun. 1, 2017	Jun. 1, 2016
Dividend paid date			Jun. 15, 2017	Jun. 15, 2016
Stock Options [Member]
Earnings Per Share [Line Items]
Options to purchase shares outstanding	11,207,110	7,304,581	11,899,739	7,075,350

Equity and Stock-based Compen30

Equity and Stock-based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 10,378	$ 12,566	$ 21,278	$ 27,913
Cost of Software-Enabled Services [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,893	2,779	5,622	5,184
Cost of Maintenance and Term Licenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	523	700	1,087	1,511
Cost of Recurring Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,416	3,479	6,709	6,695
Cost of Professional Services [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	588	599	1,130	1,243
Cost of Non-Recurring Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	588	599	1,130	1,243
Total Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	4,004	4,078	7,839	7,938
Selling and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,490	2,860	5,163	6,445
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,718	2,182	3,705	4,398
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,166	3,446	4,571	9,132
Total Operating Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 6,374	$ 8,488	$ 13,439	$ 19,975

Equity and Stock-based Compen31

Equity and Stock-based Compensation - Summary of Stock Option and SAR Activity (Detail)	6 Months Ended
	Jun. 30, 2017shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Opening	25,028,100
Granted	5,098,978
Cancelled/forfeited	(819,662)
Exercised	(2,351,774)
Number of Shares, Outstanding Closing	26,955,642

Equity and Stock-based Compen32

Equity and Stock-based Compensation - Summary of RSU Activity (Detail)	6 Months Ended
	Jun. 30, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Opening	11,252
Number of Shares, Outstanding Closing	4,626
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Opening	357,292
Cancelled/forfeited	(14,798)
Vested	(136,900)
Number of Shares, Outstanding Closing	205,594

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	18.00%	15.00%	18.00%	28.00%

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Business Combinations [Abstract]
Revenues	$ 403,640	$ 808,940
Net income	$ 32,801	$ 50,164
Basic EPS	$ 0.17	$ 0.25
Diluted EPS	$ 0.16	$ 0.25
Basic weighted average number of common shares outstanding	198,765	198,143
Diluted weighted average number of common and common equivalent shares outstanding	204,916	204,596

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Conifer and GFS [Member]
Business Acquisition [Line Items]
Cash purchase price adjustments received in first quarter of 2017	$ 1.8

Supplemental Guarantor Financ36

Supplemental Guarantor Financial Statements - Additional Information (Detail) - USD ($)	Jul. 08, 2015	Jun. 30, 2017	Dec. 31, 2016
Condensed Financial Statements Captions [Line Items]
Ownership in subsidiary percentage	100.00%
5.875% Senior Notes due 2023 [Member] | Senior Notes [Member]
Condensed Financial Statements Captions [Line Items]
Debt principal amount	$ 600,000,000
Debt, interest rate	5.875%	5.875%	5.875%
Debt, due date	2,023	2,023

Supplemental Guarantor Financ37

Supplemental Guarantor Financial Statements - Condensed Consolidating Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	$ 90,370			$ 90,370		$ 117,558
Accounts receivable, net	235,811			235,811		241,307
Prepaid expenses and other current assets	32,875			32,875		31,119
Prepaid income taxes	18,032			18,032		23,012
Restricted cash	1,880			1,880		2,116
Net property, plant and equipment	100,908			100,908		80,395
Deferred income taxes, long-term	2,136			2,136		2,410
Goodwill, intangible and other assets, net	5,136,389			5,136,389		5,209,054
Total assets	5,618,401			5,618,401		5,706,971
Current portion of long-term debt (Note 2)	37,183			37,183		126,144
Accounts payable	32,668			32,668		16,490
Accrued expenses	120,046			120,046		179,296
Income taxes payable						3,473
Deferred revenue	234,077			234,077		235,222
Long-term debt, net of current portion (Note 2)	2,261,791			2,261,791		2,374,986
Other long-term liabilities	81,770			81,770		59,227
Deferred income taxes, long-term	432,688			432,688		453,555
Total liabilities	3,200,223			3,200,223		3,448,393
Total stockholders’ equity	2,418,178			2,418,178		2,258,578
Total liabilities and stockholders’ equity	5,618,401			5,618,401		5,706,971
Revenues	410,980		$ 373,077	818,679	$ 697,208
Cost of revenues	223,692		210,479	441,151	387,163
Gross profit	187,288		162,598	377,528	310,045
Operating expenses:
Selling and marketing	30,121		28,535	60,363	58,396
Research and development	39,079		40,827	77,528	77,274
General and administrative	28,103		27,199	59,935	57,894
Total operating expenses	97,303		96,561	197,826	193,564
Operating income	89,985		66,037	179,702	116,481
Interest expense, net	(26,295)		(32,846)	(55,315)	(65,935)
Other (expense) income, net	(1,197)		12	(1,268)	(1,835)
Loss on extinguishment of debt		$ (2,300)		(2,326)
Income before income taxes	62,493		33,203	120,793	48,711
Provision for income taxes	11,342		4,982	21,495	13,485
Net income	51,151		28,221	99,298	35,226
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	20,966		(26,793)	31,745	(17,472)
Comprehensive income	72,117		1,428	131,043	17,754
Cash Flow from Operating Activities:
Net income	51,151		28,221	99,298	35,226
Non-cash adjustments				132,995	100,256
Changes in operating assets and liabilities				(38,472)	3,854
Net cash provided by operating activities				193,821	139,336
Cash Flow from Investment Activities:
Additions to property and equipment				(19,368)	(13,593)
Proceeds from sale of property and equipment				1	43
Cash paid for business acquisitions, net of cash acquired				1,805	(317,554)
Additions to capitalized software				(5,636)	(3,306)
Purchase of long-term investment					(1,000)
Net cash used in investing activities				(23,198)	(335,410)
Cash Flow from Financing Activities:
Cash received from debt borrowings				45,000
Repayments of debt				(253,400)	(155,325)
Transactions involving Holding's common stock				7,277	13,556
Payment of fees related to refinancing activities					(222)
Net cash used in financing activities				(201,123)	(141,991)
Effect of exchange rate changes on cash, cash equivalents and restricted cash				3,076	(872)
Net decrease in cash, cash equivalents and restricted cash				(27,424)	(338,937)
Cash, cash equivalents and restricted cash, beginning of period		119,674		119,674	436,977
Cash, cash equivalents and restricted cash, end of period	92,250		98,040	92,250	98,040
Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Investment in subsidiaries	3,087,894			3,087,894		2,910,669
Total assets	3,087,894			3,087,894		2,910,669
Accrued expenses	16,156			16,156		16,155
Long-term debt, net of current portion (Note 2)	600,000			600,000		600,000
Intercompany payables	53,560			53,560		35,936
Total liabilities	669,716			669,716		652,091
Total stockholders’ equity	2,418,178			2,418,178		2,258,578
Total liabilities and stockholders’ equity	3,087,894			3,087,894		2,910,669
Operating expenses:
Interest expense, net	(8,812)		(8,813)	(17,626)	(17,461)
Earnings from subsidiaries	59,963		37,034	116,924	52,687
Income before income taxes	51,151		28,221	99,298	35,226
Net income	51,151		28,221	99,298	35,226
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	20,966		(26,793)	31,745	(17,472)
Comprehensive income	72,117		1,428	131,043	17,754
Cash Flow from Operating Activities:
Net income	51,151		28,221	99,298	35,226
Intercompany transactions				17,626	18,310
Earnings from subsidiaries	(59,963)		(37,034)	(116,924)	(52,687)
Changes in operating assets and liabilities					(849)
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	18,438			18,438		33,723
Accounts receivable, net	168,940			168,940		174,927
Prepaid expenses and other current assets	19,803			19,803		18,129
Prepaid income taxes	16,039			16,039		21,600
Restricted cash	1,743			1,743		1,788
Net property, plant and equipment	62,813			62,813		42,358
Investment in subsidiaries	853,526			853,526		769,716
Intercompany receivables	193,625			193,625		162,791
Goodwill, intangible and other assets, net	3,944,982			3,944,982		4,021,445
Total assets	5,279,909			5,279,909		5,246,477
Current portion of long-term debt (Note 2)	14,432			14,432		108,989
Accounts payable	23,171			23,171		10,714
Accrued expenses	62,368			62,368		109,746
Deferred revenue	206,068			206,068		212,890
Long-term debt, net of current portion (Note 2)	1,377,619			1,377,619		1,416,695
Other long-term liabilities	47,656			47,656		29,827
Intercompany payables	68,418			68,418		39,894
Deferred income taxes, long-term	392,283			392,283		407,053
Total liabilities	2,192,015			2,192,015		2,335,808
Total stockholders’ equity	3,087,894			3,087,894		2,910,669
Total liabilities and stockholders’ equity	5,279,909			5,279,909		5,246,477
Revenues	290,036		257,316	576,069	476,305
Cost of revenues	150,783		138,262	295,539	251,764
Gross profit	139,253		119,054	280,530	224,541
Operating expenses:
Selling and marketing	22,708		21,118	45,334	43,865
Research and development	27,227		28,853	54,396	54,218
General and administrative	19,772		18,602	42,380	41,081
Total operating expenses	69,707		68,573	142,110	139,164
Operating income	69,546		50,481	138,420	85,377
Interest expense, net	(13,018)		(17,548)	(28,020)	(35,466)
Other (expense) income, net	(15,448)		(17,617)	(33,179)	(32,017)
Loss on extinguishment of debt				(1,743)
Earnings from subsidiaries	26,063		23,523	54,692	41,360
Income before income taxes	67,143		38,839	130,170	59,254
Provision for income taxes	7,180		1,805	13,246	6,567
Net income	59,963		37,034	116,924	52,687
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	20,966		(26,793)	31,745	(17,472)
Comprehensive income	80,929		10,241	148,669	35,215
Cash Flow from Operating Activities:
Net income	59,963		37,034	116,924	52,687
Non-cash adjustments				100,927	70,450
Intercompany transactions				4,012	(11,902)
Earnings from subsidiaries	(26,063)		(23,523)	(54,692)	(41,360)
Changes in operating assets and liabilities				(33,169)	14,399
Net cash provided by operating activities				134,002	84,274
Cash Flow from Investment Activities:
Additions to property and equipment				(16,021)	(5,080)
Proceeds from sale of property and equipment				1	95
Cash paid for business acquisitions, net of cash acquired				1,802	(219,276)
Additions to capitalized software				(4,078)	(1,879)
Purchase of long-term investment					(1,000)
Net cash used in investing activities				(18,296)	(227,140)
Cash Flow from Financing Activities:
Cash received from debt borrowings				45,000
Repayments of debt				(183,200)	(115,500)
Transactions involving Holding's common stock				7,279	13,556
Intercompany transactions				(115)	(90,798)
Payment of fees related to refinancing activities					(222)
Net cash used in financing activities				(131,036)	(192,964)
Net decrease in cash, cash equivalents and restricted cash				(15,330)	(335,830)
Cash, cash equivalents and restricted cash, beginning of period		35,511		35,511	363,073
Cash, cash equivalents and restricted cash, end of period	20,181		27,243	20,181	27,243
Non-guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	71,932			71,932		83,835
Accounts receivable, net	66,871			66,871		66,380
Prepaid expenses and other current assets	13,072			13,072		12,990
Prepaid income taxes	1,993			1,993		1,412
Restricted cash	137			137		328
Net property, plant and equipment	38,095			38,095		38,037
Intercompany receivables	68,418			68,418		39,894
Deferred income taxes, long-term	2,136			2,136		2,410
Goodwill, intangible and other assets, net	1,191,407			1,191,407		1,187,609
Total assets	1,454,061			1,454,061		1,432,895
Current portion of long-term debt (Note 2)	22,751			22,751		17,155
Accounts payable	9,497			9,497		5,776
Accrued expenses	41,522			41,522		53,395
Income taxes payable						3,473
Deferred revenue	28,009			28,009		22,332
Long-term debt, net of current portion (Note 2)	284,172			284,172		358,291
Other long-term liabilities	34,114			34,114		29,400
Intercompany payables	140,065			140,065		126,855
Deferred income taxes, long-term	40,405			40,405		46,502
Total liabilities	600,535			600,535		663,179
Total stockholders’ equity	853,526			853,526		769,716
Total liabilities and stockholders’ equity	1,454,061			1,454,061		1,432,895
Revenues	121,432		116,184	243,532	221,768
Cost of revenues	73,397		72,640	146,534	136,264
Gross profit	48,035		43,544	96,998	85,504
Operating expenses:
Selling and marketing	7,413		7,417	15,029	14,531
Research and development	11,852		11,974	23,132	23,056
General and administrative	8,331		8,597	17,555	16,813
Total operating expenses	27,596		27,988	55,716	54,400
Operating income	20,439		15,556	41,282	31,104
Interest expense, net	(4,465)		(6,485)	(9,669)	(13,008)
Other (expense) income, net	14,251		17,629	31,911	30,182
Loss on extinguishment of debt				(583)
Income before income taxes	30,225		26,700	62,941	48,278
Provision for income taxes	4,162		3,177	8,249	6,918
Net income	26,063		23,523	54,692	41,360
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	18,898		(27,221)	29,007	(22,449)
Comprehensive income	44,961		(3,698)	83,699	18,911
Cash Flow from Operating Activities:
Net income	26,063		23,523	54,692	41,360
Non-cash adjustments				32,068	29,806
Intercompany transactions				(21,638)	(6,408)
Changes in operating assets and liabilities				(5,303)	(9,696)
Net cash provided by operating activities				59,819	55,062
Cash Flow from Investment Activities:
Additions to property and equipment				(3,347)	(8,513)
Proceeds from sale of property and equipment					(52)
Cash paid for business acquisitions, net of cash acquired				3	(98,278)
Additions to capitalized software				(1,558)	(1,427)
Net cash used in investing activities				(4,902)	(108,270)
Cash Flow from Financing Activities:
Repayments of debt				(70,200)	(39,825)
Transactions involving Holding's common stock				(2)
Intercompany transactions				115	90,798
Net cash used in financing activities				(70,087)	50,973
Effect of exchange rate changes on cash, cash equivalents and restricted cash				3,076	(872)
Net decrease in cash, cash equivalents and restricted cash				(12,094)	(3,107)
Cash, cash equivalents and restricted cash, beginning of period		$ 84,163		84,163	73,904
Cash, cash equivalents and restricted cash, end of period	72,069		70,797	72,069	70,797
Consolidation, Eliminations [Member]
Condensed Financial Statements Captions [Line Items]
Investment in subsidiaries	(3,941,420)			(3,941,420)		(3,680,385)
Intercompany receivables	(262,043)			(262,043)		(202,685)
Total assets	(4,203,463)			(4,203,463)		(3,883,070)
Intercompany payables	(262,043)			(262,043)		(202,685)
Total liabilities	(262,043)			(262,043)		(202,685)
Total stockholders’ equity	(3,941,420)			(3,941,420)		(3,680,385)
Total liabilities and stockholders’ equity	(4,203,463)			(4,203,463)		$ (3,883,070)
Revenues	(488)		(423)	(922)	(865)
Cost of revenues	(488)		(423)	(922)	(865)
Operating expenses:
Earnings from subsidiaries	(86,026)		(60,557)	(171,616)	(94,047)
Income before income taxes	(86,026)		(60,557)	(171,616)	(94,047)
Net income	(86,026)		(60,557)	(171,616)	(94,047)
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	(39,864)		54,014	(60,752)	39,921
Comprehensive income	(125,890)		(6,543)	(232,368)	(54,126)
Cash Flow from Operating Activities:
Net income	(86,026)		(60,557)	(171,616)	(94,047)
Earnings from subsidiaries	$ 86,026		$ 60,557	$ 171,616	$ 94,047