SS&C Technologies (SSNC) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 25, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		205,860,743

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 103,279	$ 117,558
Accounts receivable, net of allowance for doubtful accounts of $7,711 and $5,944, respectively	238,677	241,307
Prepaid expenses and other current assets	32,688	31,119
Prepaid income taxes	13,832	23,012
Restricted cash	592	2,116
Total current assets	389,068	415,112
Property, plant and equipment:
Land	2,655	2,655
Building and improvements	59,974	42,749
Equipment, furniture, and fixtures	136,623	120,011
Total property and equipment	199,252	165,415
Less: accumulated depreciation	(95,672)	(85,020)
Net property, plant and equipment	103,580	80,395
Deferred income taxes	2,166	2,410
Goodwill (Note 3)	3,692,573	3,652,733
Intangible and other assets, net of accumulated amortization of $899,922 and $730,234, respectively	1,411,234	1,556,321
Total assets	5,598,621	5,706,971
Current liabilities:
Current portion of long-term debt (Note 2)	39,527	126,144
Accounts payable	27,776	16,490
Income taxes payable		3,473
Accrued employee compensation and benefits	73,521	104,118
Interest payable	7,344	21,470
Other accrued expenses	45,087	53,708
Deferred revenue	212,811	235,222
Total current liabilities	406,066	560,625
Long-term debt, net of current portion (Note 2)	2,177,681	2,374,986
Other long-term liabilities	85,767	59,227
Deferred income taxes	421,468	453,555
Total liabilities	3,090,982	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	2,074	2,046
Additional paid-in capital	1,994,985	1,921,256
Accumulated other comprehensive loss	(87,377)	(139,073)
Retained earnings	615,957	492,349
Stockholders' equity before treasury stock	2,525,639	2,276,578
Less: cost of common stock in treasury, 1,573,339 shares	(18,000)	(18,000)
Total stockholders’ equity	2,507,639	2,258,578
Total liabilities and stockholders’ equity	5,598,621	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	Sep. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts receivable	$ 7,711	$ 5,944
Accumulated amortization of finite-lived intangible assets	$ 899,922	$ 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	207,402,636	204,616,054
Common stock, shares outstanding	205,829,297	203,042,715
Common stock, shares unvested	1,314	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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Software-enabled services	$ 282,133	$ 248,772	$ 831,103	$ 699,091
Maintenance and term licenses	112,819	106,925	336,990	305,437
Total recurring revenues	394,952	355,697	1,168,093	1,004,528
Perpetual licenses	3,576	4,389	10,226	14,643
Professional services	19,723	23,218	58,611	61,341
Total non-recurring revenues	23,299	27,607	68,837	75,984
Total revenues	418,251	383,304	1,236,930	1,080,512
Cost of revenues:
Software-enabled services	155,497	143,074	468,391	403,045
Maintenance and term licenses	46,662	45,458	140,927	138,864
Total recurring cost of revenues	202,159	188,532	609,318	541,909
Perpetual licenses	642	608	1,857	1,749
Professional services	17,001	18,887	49,778	51,532
Total non-recurring cost of revenues	17,643	19,495	51,635	53,281
Total cost of revenues	219,802	208,027	660,953	595,190
Gross profit	198,449	175,277	575,977	485,322
Operating expenses:
Selling and marketing	28,181	27,328	88,544	85,724
Research and development	37,376	37,701	114,904	114,975
General and administrative	28,975	33,345	88,910	91,239
Total operating expenses	94,532	98,374	292,358	291,938
Operating income	103,917	76,903	283,619	193,384
Interest expense, net	(26,250)	(31,648)	(81,565)	(97,583)
Other (expense) income, net	(2,535)	2,655	(3,803)	820
Loss on extinguishment of debt			(2,326)
Income before income taxes	75,132	47,910	195,925	96,621
Provision for income taxes	10,905	9,163	32,400	22,648
Net income	$ 64,227	$ 38,747	$ 163,525	$ 73,973
Basic earnings per share	$ 0.31	$ 0.19	$ 0.80	$ 0.37
Diluted earnings per share	$ 0.30	$ 0.19	$ 0.77	$ 0.36
Basic weighted average number of common shares outstanding	205,568	201,782	204,506	199,365
Diluted weighted average number of common and common equivalent shares outstanding	212,359	206,635	211,080	205,334
Cash dividends declared and paid per common share	$ 0.07	$ 0.0625	$ 0.195	$ 0.1875
Net income	$ 64,227	$ 38,747	$ 163,525	$ 73,973
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	19,951	(12,060)	51,696	(29,532)
Total comprehensive income (loss), net of tax	19,951	(12,060)	51,696	(29,532)
Comprehensive income	$ 84,178	$ 26,687	$ 215,221	$ 44,441

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flow from operating activities:
Net income	$ 163,525	$ 73,973
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	176,879	170,910
Stock-based compensation expense	31,572	40,402
Income tax benefit related to exercise of stock options		(44,975)
Amortization and write-offs of loan origination costs	7,915	7,994
Loss on extinguishment of debt	963
Loss on sale or disposition of property and equipment	730	159
Deferred income taxes	(24,661)	(39,712)
Provision for doubtful accounts	2,829	2,684
Changes in operating assets and liabilities, excluding effects from acquisitions:
Accounts receivable	1,820	(14,603)
Prepaid expenses and other assets	1,416	(2,595)
Accounts payable	8,597	2,610
Accrued expenses	(45,644)	(18,429)
Income taxes prepaid and payable	6,781	44,840
Deferred revenue	(25,632)	13,758
Net cash provided by operating activities	307,090	237,016
Cash flow from investing activities:
Additions to property and equipment	(29,779)	(18,870)
Proceeds from sale of property and equipment	1	69
Cash paid for business acquisitions, net of cash acquired	1,805	(309,432)
Additions to capitalized software	(8,168)	(6,137)
Purchase of long-term investment		(1,000)
Net cash used in investing activities	(36,141)	(335,370)
Cash flow from financing activities:
Cash received from debt borrowings	45,000
Repayments of debt	(337,800)	(268,550)
Proceeds from exercise of stock options	46,278	34,767
Withholding taxes related to equity award net share settlement	(4,090)	(7,051)
Income tax benefit related to exercise of stock options		44,975
Purchase of common stock for treasury		(13)
Payment of fees related to refinancing activities		(503)
Dividends paid on common stock	(39,917)	(37,452)
Net cash used in financing activities	(290,529)	(233,827)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3,777	(880)
Net decrease in cash, cash equivalents and restricted cash	(15,803)	(333,061)
Cash, cash equivalents and restricted cash, beginning of period	119,674	436,977
Cash, cash equivalents and restricted cash, end of period	103,871	$ 103,916
Supplemental disclosure of non-cash activities:
Property and equipment acquired through tenant improvement allowances	$ 10,846

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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 September 30, 2017, the results of its operations for the three and nine months ended September 30, 2017 and 2016 and its cash flows for the nine months ended September 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 nine months ended September 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 Company plans to adopt the new revenue standard using the modified retrospective approach when it becomes effective for the Company in the first quarter of fiscal 2018. The Company is continuing to evaluate the impact on the Company’s financial position, results of operations and cash flows, and associated processes, systems and internal controls. Based upon the Company’s continued assessments of the new revenue standard, the Company would be required to recognize the license component of term license arrangements upfront and the associated maintenance component over the contract period. Under the current revenue standard, the Company recognizes both the term license and maintenance revenues ratably over the contract period. In addition, a portion of deferred revenue recorded in accordance with the current revenue standard will never be recognized as revenue upon adoption of the new revenue standard and instead will be part of the cumulative effect adjustment within retained earnings. The Company is also evaluating the timing and recognition of costs to obtain contracts with customers, such as commissions, under the new revenue standard. The Company is continuing to assess the new revenue standard along with industry trends and additional interpretive guidance and may adjust its interpretation and implementation plan accordingly.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	Note 2—Debt At September 30, 2017 and December 31, 2016, debt consisted of the following (in thousands): September 30, 2017 December 31, 2016 Senior secured credit facilities, weighted-average interest rate of 3.42% and 3.94%, respectively $ 1,666,825 $ 1,865,625 5.875% senior notes due 2023 600,000 600,000 Senior secured credit facilities revolving portion, weighted-average interest rate of 3.50% — 94,000 Unamortized original issue discount and debt issuance costs (49,617) (58,495) 2,217,208 2,501,130 Less current portion of long-term debt 39,527 126,144 Long-term debt $ 2,177,681 $ 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%. 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): September 30, 2017 December 31, 2016 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 1,666,825 $ 1,673,024 $ 1,865,625 $ 1,887,043 5.875% senior notes due 2023 600,000 633,255 600,000 619,500 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	9 Months Ended
	Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 3—Goodwill The change in carrying value of goodwill as of and for the nine months ended September 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 40,461 Balance at September 30, 2017 $ 3,692,573

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 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 September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Net income 64,227 38,747 163,525 73,973 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 205,568 201,782 204,506 199,365 Weighted average common stock equivalents — options and restricted shares 6,791 4,853 6,574 5,969 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 212,359 206,635 211,080 205,334 Earnings per share - Basic $ 0.31 $ 0.19 $ 0.80 $ 0.37 Earnings per share - Diluted $ 0.30 $ 0.19 $ 0.77 $ 0.36 Weighted average stock options and SARs representing 641,227 and 10,702,466 shares were outstanding for the three months ended September 30, 2017 and 2016, respectively, and weighted average stock options and SARs representing 10,779,326 and 14,094,402 were outstanding for the nine months ended September 30, 2017 and 2016, respectively 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 and $0.07 per share of common stock on September 15, 2017 to stockholders of record as of the close of business on March 1, 2017, June 1, 2017 and September 1, 2017, totaling $39.9 million. In 2016, the Company paid a quarterly cash dividend of $0.0625 per share of common stock on March 15, 2016, June 15, 2016 and September 15, 2016, to stockholders of record as of the close of business on March 7, 2016, June 1, 2016 and September 1, 2016, totaling $37.5 million.

Equity and Stock-based Compensa

Equity and Stock-based Compensation	9 Months Ended
	Sep. 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 nine months ended September 30, 2017 and 2016 was as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, Consolidated Statements of Comprehensive Income Classification 2017 2016 2017 2016 Cost of software-enabled services $ 2,903 $ 2,732 $ 8,525 $ 7,916 Cost of maintenance and term licenses 485 605 1,572 2,116 Cost of recurring revenues 3,388 3,337 10,097 10,032 Cost of professional services 565 493 1,695 1,736 Cost of non-recurring revenues 565 493 1,695 1,736 Total cost of revenues 3,953 3,830 11,792 11,768 Selling and marketing 2,387 2,521 7,550 8,966 Research and development 1,817 2,004 5,522 6,402 General and administrative 2,137 4,134 6,708 13,266 Total operating expenses 6,341 8,659 19,780 28,634 Total stock-based compensation expense $ 10,294 $ 12,489 $ 31,572 $ 40,402 The following table summarizes stock option and SAR activity as of and for the nine months ended September 30, 2017: Shares Outstanding at December 31, 2016 25,028,100 Granted 5,152,728 Cancelled/forfeited (1,165,514 ) Exercised (2,983,441 ) Outstanding at September 30, 2017 26,031,873 The following table summarizes RSU activity as of and for the nine months ended September 30, 2017: Shares Outstanding at December 31, 2016 357,292 Granted - Cancelled/forfeited (20,458 ) Vested (146,528 ) Outstanding at September 30, 2017 190,306

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 6—Income Taxes The effective tax rate was 14.5% and 19.1% for the three months ended September 30, 2017 and 2016, respectively, and the effective tax rate was 16.5% and 23.4% for the nine months ended September 30, 2017 and 2016, respectively. The change in the effective tax rate for the three months ended September 30, 2017 was primarily due to the recognition of windfall tax benefits from stock awards as a component of the income tax provision in the current quarter as well as the recognition of previously unrecognized tax benefits due to a lapse in the statute of limitations 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 in the current year from domestic operations taxed at a high statutory rate.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 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 September 30, For the Nine Months Ended September 30, 2016 2016 Revenues $ 412,954 $ 1,221,894 Net income $ 43,692 $ 93,856 Basic EPS $ 0.22 $ 0.47 Diluted EPS $ 0.21 $ 0.46 Basic weighted average number of common shares outstanding 201,782 199,365 Diluted weighted average number of common and common equivalent shares outstanding 206,635 205,334 During the nine months ended September 30, 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 nine months ended September 30, 2017 on the Company’s Condensed Consolidated Statement of Cash Flows.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 September 30, 2017 and December 31, 2016 and for the three and nine months ended September 30, 2017 and 2016 are presented. The condensed consolidating financial information of the Company and its subsidiaries are as follows (in thousands): September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 19,294 $ 83,985 $ — $ 103,279 Accounts receivable, net — 165,723 72,954 — 238,677 Prepaid expenses and other current assets — 18,469 14,219 — 32,688 Prepaid income taxes — 13,803 29 — 13,832 Restricted cash — 592 — — 592 Net property, plant and equipment — 62,791 40,789 — 103,580 Investment in subsidiaries 3,186,168 910,117 — (4,096,285 ) — Intercompany receivables — 223,838 92,305 (316,143 ) — Deferred income taxes, long-term — — 2,166 — 2,166 Goodwill, intangible and other assets, net — 3,906,024 1,197,783 — 5,103,807 Total assets $ 3,186,168 $ 5,320,651 $ 1,504,230 $ (4,412,428 ) $ 5,598,621 Current portion of long-term debt — 13,797 25,730 — 39,527 Accounts payable — 18,866 8,910 — 27,776 Accrued expenses 7,344 74,419 44,189 — 125,952 Deferred revenue — 187,157 25,654 — 212,811 Long-term debt, net of current portion 600,000 1,313,753 263,928 — 2,177,681 Other long-term liabilities — 50,829 34,938 — 85,767 Intercompany payables 71,185 92,305 152,653 (316,143 ) — Deferred income taxes, long-term — 383,357 38,111 — 421,468 Total liabilities 678,529 2,134,483 594,113 (316,143 ) 3,090,982 Total stockholders’ equity 2,507,639 3,186,168 910,117 (4,096,285 ) 2,507,639 Total liabilities and stockholders’ equity $ 3,186,168 $ 5,320,651 $ 1,504,230 $ (4,412,428 ) $ 5,598,621 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 September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 290,020 $ 128,593 $ (362 ) $ 418,251 Cost of revenues — 145,925 74,239 (362 ) 219,802 Gross profit — 144,095 54,354 — 198,449 Operating expenses: Selling and marketing — 20,760 7,421 — 28,181 Research and development — 25,592 11,784 — 37,376 General and administrative — 20,732 8,243 — 28,975 Total operating expenses — 67,084 27,448 — 94,532 Operating income — 77,011 26,906 — 103,917 Interest expense, net (8,813 ) (12,952 ) (4,485 ) — (26,250 ) Other (expense) income, net — (24,854 ) 22,319 — (2,535 ) Earnings from subsidiaries 73,040 39,491 — (112,531 ) — Income before income taxes 64,227 78,696 44,740 (112,531 ) 75,132 Provision for income taxes — 5,656 5,249 — 10,905 Net income $ 64,227 $ 73,040 $ 39,491 $ (112,531 ) $ 64,227 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 19,951 19,951 16,898 (36,849 ) 19,951 Comprehensive income $ 84,178 $ 92,991 $ 56,389 $ (149,380 ) $ 84,178 For the Three Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 262,350 $ 121,385 $ (431 ) $ 383,304 Cost of revenues — 137,369 71,089 (431 ) 208,027 Gross profit — 124,981 50,296 — 175,277 Operating expenses: Selling and marketing — 20,448 6,880 — 27,328 Research and development — 26,575 11,126 — 37,701 General and administrative — 24,824 8,521 — 33,345 Total operating expenses — 71,847 26,527 — 98,374 Operating income — 53,134 23,769 — 76,903 Interest expense, net (8,812 ) (16,651 ) (6,185 ) — (31,648 ) Other (expense) income, net — (15,364 ) 18,019 — 2,655 Earnings from subsidiaries 47,559 30,522 — (78,081 ) — Income before income taxes 38,747 51,641 35,603 (78,081 ) 47,910 Provision for income taxes — 4,082 5,081 — 9,163 Net income $ 38,747 $ 47,559 $ 30,522 $ (78,081 ) $ 38,747 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (12,060 ) (12,060 ) (10,844 ) 22,904 (12,060 ) Comprehensive income $ 26,687 $ 35,499 $ 19,678 $ (55,177 ) $ 26,687 For the Nine Months Ended September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 866,090 $ 372,124 $ (1,284 ) $ 1,236,930 Cost of revenues — 441,464 220,773 (1,284 ) 660,953 Gross profit — 424,626 151,351 — 575,977 Operating expenses: Selling and marketing — 66,093 22,451 — 88,544 Research and development — 79,988 34,916 — 114,904 General and administrative — 63,112 25,798 — 88,910 Total operating expenses — 209,193 83,165 — 292,358 Operating income — 215,433 68,186 — 283,619 Interest expense, net (26,438 ) (40,974 ) (14,153 ) — (81,565 ) Other (expense) income, net — (58,033 ) 54,230 — (3,803 ) Loss on extinguishment of debt — (1,743 ) (583 ) — (2,326 ) Earnings from subsidiaries 189,963 94,182 — (284,145 ) — Income before income taxes 163,525 208,865 107,680 (284,145 ) 195,925 Provision for income taxes — 18,902 13,498 — 32,400 Net income $ 163,525 $ 189,963 $ 94,182 $ (284,145 ) $ 163,525 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 51,696 51,696 45,905 (97,601 ) 51,696 Comprehensive income $ 215,221 $ 241,659 $ 140,087 $ (381,746 ) $ 215,221 For the Nine Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 738,655 $ 343,153 $ (1,296 ) $ 1,080,512 Cost of revenues — 389,133 207,353 (1,296 ) 595,190 Gross profit — 349,522 135,800 — 485,322 Operating expenses: Selling and marketing — 64,313 21,411 — 85,724 Research and development — 80,794 34,181 — 114,975 General and administrative — 65,906 25,333 — 91,239 Total operating expenses — 211,013 80,925 — 291,938 Operating income — 138,509 54,875 — 193,384 Interest expense, net (26,274 ) (52,116 ) (19,193 ) — (97,583 ) Other (expense) income, net — (47,381 ) 48,201 — 820 Earnings from subsidiaries 100,247 71,885 — (172,132 ) — Income before income taxes 73,973 110,897 83,883 (172,132 ) 96,621 Provision for income taxes — 10,650 11,998 — 22,648 Net income $ 73,973 $ 100,247 $ 71,885 $ (172,132 ) $ 73,973 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (29,532 ) (29,532 ) (33,293 ) 62,825 (29,532 ) Comprehensive income $ 44,441 $ 70,715 $ 38,592 $ (109,307 ) $ 44,441 For the Nine Months Ended September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 163,525 $ 189,963 $ 94,182 $ (284,145 ) $ 163,525 Non-cash adjustments — 147,277 48,950 — 196,227 Intercompany transactions 35,251 5,875 (41,126 ) — — Earnings from subsidiaries (189,963 ) (94,182 ) — 284,145 — Changes in operating assets and liabilities (8,813 ) (35,024 ) (8,825 ) — (52,662 ) Net cash provided by operating activities — 213,909 93,181 — 307,090 Cash Flow from Investment Activities: Additions to property and equipment — (22,850 ) (6,929 ) — (29,779 ) 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 — (5,645 ) (2,523 ) — (8,168 ) Net cash used in investing activities — (26,692 ) (9,449 ) — (36,141 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (249,800 ) (88,000 ) — (337,800 ) Transactions involving Holding's common stock — 2,273 (2 ) — 2,271 Intercompany transactions — (315 ) 315 — — Net cash used in financing activities — (202,842 ) (87,687 ) — (290,529 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 3,777 — 3,777 Net decrease in cash, cash equivalents and restricted cash — (15,625 ) (178 ) — (15,803 ) Cash, cash equivalents and restricted cash, beginning of period — 35,511 84,163 — 119,674 Cash, cash equivalents and restricted cash, end of period $ — $ 19,886 $ 83,985 $ — $ 103,871 For the Nine Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 73,973 $ 100,247 $ 71,885 $ (172,132 ) $ 73,973 Non-cash adjustments — 89,915 47,547 — 137,462 Intercompany transactions 35,935 (21,251 ) (14,684 ) — — Earnings from subsidiaries (100,247 ) (71,885 ) — 172,132 — Changes in operating assets and liabilities (9,661 ) 40,315 (5,073 ) — 25,581 Net cash provided by operating activities — 137,341 99,675 — 237,016 Cash Flow from Investment Activities: Additions to property and equipment — (7,672 ) (11,198 ) — (18,870 ) Proceeds from sale of property and equipment — 67 2 — 69 Cash paid for business acquisitions, net of cash acquired — (214,689 ) (94,743 ) — (309,432 ) Additions to capitalized software — (3,860 ) (2,277 ) — (6,137 ) Purchase of long-term investment — (1,000 ) — — (1,000 ) Net cash used in investing activities — (227,154 ) (108,216 ) — (335,370 ) Cash Flow from Financing Activities: Repayments of debt — (195,500 ) (73,050 ) — (268,550 ) Transactions involving Holding's common stock — 35,226 — — 35,226 Intercompany transactions — (87,272 ) 87,272 — — Payment of fees related to refinancing activities — (503 ) — — (503 ) Net cash (used in) provided by financing activities — (248,049 ) 14,222 — (233,827 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (880 ) — (880 ) Net (decrease) increaase in cash, cash equivalents and restricted cash — (337,862 ) 4,801 — (333,061 ) Cash, cash equivalents and restricted cash, beginning of period — 363,073 73,904 — 436,977 Cash, cash equivalents and restricted cash, end of period $ — $ 25,211 $ 78,705 $ — $ 103,916

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 10—Subsequent Events On October 13, 2017, the Company purchased all of the outstanding stock of CommonWealth Fund Services Ltd. (“CommonWealth”), a Canadian fund administrator, for approximately $16.4 million, subject to certain adjustments. CommonWealth provides a full range of administration services to hedge funds, private equity funds, real estate funds, fund of funds, family offices, and other institutions.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 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 Company plans to adopt the new revenue standard using the modified retrospective approach when it becomes effective for the Company in the first quarter of fiscal 2018. The Company is continuing to evaluate the impact on the Company’s financial position, results of operations and cash flows, and associated processes, systems and internal controls. Based upon the Company’s continued assessments of the new revenue standard, the Company would be required to recognize the license component of term license arrangements upfront and the associated maintenance component over the contract period. Under the current revenue standard, the Company recognizes both the term license and maintenance revenues ratably over the contract period. In addition, a portion of deferred revenue recorded in accordance with the current revenue standard will never be recognized as revenue upon adoption of the new revenue standard and instead will be part of the cumulative effect adjustment within retained earnings. The Company is also evaluating the timing and recognition of costs to obtain contracts with customers, such as commissions, under the new revenue standard. The Company is continuing to assess the new revenue standard along with industry trends and additional interpretive guidance and may adjust its interpretation and implementation plan accordingly.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Component of Debt	At September 30, 2017 and December 31, 2016, debt consisted of the following (in thousands): September 30, 2017 December 31, 2016 Senior secured credit facilities, weighted-average interest rate of 3.42% and 3.94%, respectively $ 1,666,825 $ 1,865,625 5.875% senior notes due 2023 600,000 600,000 Senior secured credit facilities revolving portion, weighted-average interest rate of 3.50% — 94,000 Unamortized original issue discount and debt issuance costs (49,617) (58,495) 2,217,208 2,501,130 Less current portion of long-term debt 39,527 126,144 Long-term debt $ 2,177,681 $ 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): September 30, 2017 December 31, 2016 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 1,666,825 $ 1,673,024 $ 1,865,625 $ 1,887,043 5.875% senior notes due 2023 600,000 633,255 600,000 619,500 Senior secured credit facilities, revolving portion — — 94,000 93,883

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 40,461 Balance at September 30, 2017 $ 3,692,573

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 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 September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Net income 64,227 38,747 163,525 73,973 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 205,568 201,782 204,506 199,365 Weighted average common stock equivalents — options and restricted shares 6,791 4,853 6,574 5,969 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 212,359 206,635 211,080 205,334 Earnings per share - Basic $ 0.31 $ 0.19 $ 0.80 $ 0.37 Earnings per share - Diluted $ 0.30 $ 0.19 $ 0.77 $ 0.36

Equity and Stock-based Compen20

Equity and Stock-based Compensation (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2017 and 2016 was as follows (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, Consolidated Statements of Comprehensive Income Classification 2017 2016 2017 2016 Cost of software-enabled services $ 2,903 $ 2,732 $ 8,525 $ 7,916 Cost of maintenance and term licenses 485 605 1,572 2,116 Cost of recurring revenues 3,388 3,337 10,097 10,032 Cost of professional services 565 493 1,695 1,736 Cost of non-recurring revenues 565 493 1,695 1,736 Total cost of revenues 3,953 3,830 11,792 11,768 Selling and marketing 2,387 2,521 7,550 8,966 Research and development 1,817 2,004 5,522 6,402 General and administrative 2,137 4,134 6,708 13,266 Total operating expenses 6,341 8,659 19,780 28,634 Total stock-based compensation expense $ 10,294 $ 12,489 $ 31,572 $ 40,402
Summary of Stock Option and SAR Activity	The following table summarizes stock option and SAR activity as of and for the nine months ended September 30, 2017: Shares Outstanding at December 31, 2016 25,028,100 Granted 5,152,728 Cancelled/forfeited (1,165,514 ) Exercised (2,983,441 ) Outstanding at September 30, 2017 26,031,873
Summary of RSU Activity	The following table summarizes RSU activity as of and for the nine months ended September 30, 2017: Shares Outstanding at December 31, 2016 357,292 Granted - Cancelled/forfeited (20,458 ) Vested (146,528 ) Outstanding at September 30, 2017 190,306

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 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 September 30, For the Nine Months Ended September 30, 2016 2016 Revenues $ 412,954 $ 1,221,894 Net income $ 43,692 $ 93,856 Basic EPS $ 0.22 $ 0.47 Diluted EPS $ 0.21 $ 0.46 Basic weighted average number of common shares outstanding 201,782 199,365 Diluted weighted average number of common and common equivalent shares outstanding 206,635 205,334

Supplemental Guarantor Financ22

Supplemental Guarantor Financial Statements (Tables)	9 Months Ended
	Sep. 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): September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 19,294 $ 83,985 $ — $ 103,279 Accounts receivable, net — 165,723 72,954 — 238,677 Prepaid expenses and other current assets — 18,469 14,219 — 32,688 Prepaid income taxes — 13,803 29 — 13,832 Restricted cash — 592 — — 592 Net property, plant and equipment — 62,791 40,789 — 103,580 Investment in subsidiaries 3,186,168 910,117 — (4,096,285 ) — Intercompany receivables — 223,838 92,305 (316,143 ) — Deferred income taxes, long-term — — 2,166 — 2,166 Goodwill, intangible and other assets, net — 3,906,024 1,197,783 — 5,103,807 Total assets $ 3,186,168 $ 5,320,651 $ 1,504,230 $ (4,412,428 ) $ 5,598,621 Current portion of long-term debt — 13,797 25,730 — 39,527 Accounts payable — 18,866 8,910 — 27,776 Accrued expenses 7,344 74,419 44,189 — 125,952 Deferred revenue — 187,157 25,654 — 212,811 Long-term debt, net of current portion 600,000 1,313,753 263,928 — 2,177,681 Other long-term liabilities — 50,829 34,938 — 85,767 Intercompany payables 71,185 92,305 152,653 (316,143 ) — Deferred income taxes, long-term — 383,357 38,111 — 421,468 Total liabilities 678,529 2,134,483 594,113 (316,143 ) 3,090,982 Total stockholders’ equity 2,507,639 3,186,168 910,117 (4,096,285 ) 2,507,639 Total liabilities and stockholders’ equity $ 3,186,168 $ 5,320,651 $ 1,504,230 $ (4,412,428 ) $ 5,598,621 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 September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 290,020 $ 128,593 $ (362 ) $ 418,251 Cost of revenues — 145,925 74,239 (362 ) 219,802 Gross profit — 144,095 54,354 — 198,449 Operating expenses: Selling and marketing — 20,760 7,421 — 28,181 Research and development — 25,592 11,784 — 37,376 General and administrative — 20,732 8,243 — 28,975 Total operating expenses — 67,084 27,448 — 94,532 Operating income — 77,011 26,906 — 103,917 Interest expense, net (8,813 ) (12,952 ) (4,485 ) — (26,250 ) Other (expense) income, net — (24,854 ) 22,319 — (2,535 ) Earnings from subsidiaries 73,040 39,491 — (112,531 ) — Income before income taxes 64,227 78,696 44,740 (112,531 ) 75,132 Provision for income taxes — 5,656 5,249 — 10,905 Net income $ 64,227 $ 73,040 $ 39,491 $ (112,531 ) $ 64,227 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 19,951 19,951 16,898 (36,849 ) 19,951 Comprehensive income $ 84,178 $ 92,991 $ 56,389 $ (149,380 ) $ 84,178 For the Three Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 262,350 $ 121,385 $ (431 ) $ 383,304 Cost of revenues — 137,369 71,089 (431 ) 208,027 Gross profit — 124,981 50,296 — 175,277 Operating expenses: Selling and marketing — 20,448 6,880 — 27,328 Research and development — 26,575 11,126 — 37,701 General and administrative — 24,824 8,521 — 33,345 Total operating expenses — 71,847 26,527 — 98,374 Operating income — 53,134 23,769 — 76,903 Interest expense, net (8,812 ) (16,651 ) (6,185 ) — (31,648 ) Other (expense) income, net — (15,364 ) 18,019 — 2,655 Earnings from subsidiaries 47,559 30,522 — (78,081 ) — Income before income taxes 38,747 51,641 35,603 (78,081 ) 47,910 Provision for income taxes — 4,082 5,081 — 9,163 Net income $ 38,747 $ 47,559 $ 30,522 $ (78,081 ) $ 38,747 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (12,060 ) (12,060 ) (10,844 ) 22,904 (12,060 ) Comprehensive income $ 26,687 $ 35,499 $ 19,678 $ (55,177 ) $ 26,687 For the Nine Months Ended September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 866,090 $ 372,124 $ (1,284 ) $ 1,236,930 Cost of revenues — 441,464 220,773 (1,284 ) 660,953 Gross profit — 424,626 151,351 — 575,977 Operating expenses: Selling and marketing — 66,093 22,451 — 88,544 Research and development — 79,988 34,916 — 114,904 General and administrative — 63,112 25,798 — 88,910 Total operating expenses — 209,193 83,165 — 292,358 Operating income — 215,433 68,186 — 283,619 Interest expense, net (26,438 ) (40,974 ) (14,153 ) — (81,565 ) Other (expense) income, net — (58,033 ) 54,230 — (3,803 ) Loss on extinguishment of debt — (1,743 ) (583 ) — (2,326 ) Earnings from subsidiaries 189,963 94,182 — (284,145 ) — Income before income taxes 163,525 208,865 107,680 (284,145 ) 195,925 Provision for income taxes — 18,902 13,498 — 32,400 Net income $ 163,525 $ 189,963 $ 94,182 $ (284,145 ) $ 163,525 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 51,696 51,696 45,905 (97,601 ) 51,696 Comprehensive income $ 215,221 $ 241,659 $ 140,087 $ (381,746 ) $ 215,221 For the Nine Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 738,655 $ 343,153 $ (1,296 ) $ 1,080,512 Cost of revenues — 389,133 207,353 (1,296 ) 595,190 Gross profit — 349,522 135,800 — 485,322 Operating expenses: Selling and marketing — 64,313 21,411 — 85,724 Research and development — 80,794 34,181 — 114,975 General and administrative — 65,906 25,333 — 91,239 Total operating expenses — 211,013 80,925 — 291,938 Operating income — 138,509 54,875 — 193,384 Interest expense, net (26,274 ) (52,116 ) (19,193 ) — (97,583 ) Other (expense) income, net — (47,381 ) 48,201 — 820 Earnings from subsidiaries 100,247 71,885 — (172,132 ) — Income before income taxes 73,973 110,897 83,883 (172,132 ) 96,621 Provision for income taxes — 10,650 11,998 — 22,648 Net income $ 73,973 $ 100,247 $ 71,885 $ (172,132 ) $ 73,973 Other comprehensive loss, net of tax: Foreign currency exchange translation adjustment (29,532 ) (29,532 ) (33,293 ) 62,825 (29,532 ) Comprehensive income $ 44,441 $ 70,715 $ 38,592 $ (109,307 ) $ 44,441 For the Nine Months Ended September 30, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 163,525 $ 189,963 $ 94,182 $ (284,145 ) $ 163,525 Non-cash adjustments — 147,277 48,950 — 196,227 Intercompany transactions 35,251 5,875 (41,126 ) — — Earnings from subsidiaries (189,963 ) (94,182 ) — 284,145 — Changes in operating assets and liabilities (8,813 ) (35,024 ) (8,825 ) — (52,662 ) Net cash provided by operating activities — 213,909 93,181 — 307,090 Cash Flow from Investment Activities: Additions to property and equipment — (22,850 ) (6,929 ) — (29,779 ) 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 — (5,645 ) (2,523 ) — (8,168 ) Net cash used in investing activities — (26,692 ) (9,449 ) — (36,141 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (249,800 ) (88,000 ) — (337,800 ) Transactions involving Holding's common stock — 2,273 (2 ) — 2,271 Intercompany transactions — (315 ) 315 — — Net cash used in financing activities — (202,842 ) (87,687 ) — (290,529 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 3,777 — 3,777 Net decrease in cash, cash equivalents and restricted cash — (15,625 ) (178 ) — (15,803 ) Cash, cash equivalents and restricted cash, beginning of period — 35,511 84,163 — 119,674 Cash, cash equivalents and restricted cash, end of period $ — $ 19,886 $ 83,985 $ — $ 103,871 For the Nine Months Ended September 30, 2016 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 73,973 $ 100,247 $ 71,885 $ (172,132 ) $ 73,973 Non-cash adjustments — 89,915 47,547 — 137,462 Intercompany transactions 35,935 (21,251 ) (14,684 ) — — Earnings from subsidiaries (100,247 ) (71,885 ) — 172,132 — Changes in operating assets and liabilities (9,661 ) 40,315 (5,073 ) — 25,581 Net cash provided by operating activities — 137,341 99,675 — 237,016 Cash Flow from Investment Activities: Additions to property and equipment — (7,672 ) (11,198 ) — (18,870 ) Proceeds from sale of property and equipment — 67 2 — 69 Cash paid for business acquisitions, net of cash acquired — (214,689 ) (94,743 ) — (309,432 ) Additions to capitalized software — (3,860 ) (2,277 ) — (6,137 ) Purchase of long-term investment — (1,000 ) — — (1,000 ) Net cash used in investing activities — (227,154 ) (108,216 ) — (335,370 ) Cash Flow from Financing Activities: Repayments of debt — (195,500 ) (73,050 ) — (268,550 ) Transactions involving Holding's common stock — 35,226 — — 35,226 Intercompany transactions — (87,272 ) 87,272 — — Payment of fees related to refinancing activities — (503 ) — — (503 ) Net cash (used in) provided by financing activities — (248,049 ) 14,222 — (233,827 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — (880 ) — (880 ) Net (decrease) increaase in cash, cash equivalents and restricted cash — (337,862 ) 4,801 — (333,061 ) Cash, cash equivalents and restricted cash, beginning of period — 363,073 73,904 — 436,977 Cash, cash equivalents and restricted cash, end of period $ — $ 25,211 $ 78,705 $ — $ 103,916

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 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	$ 2.7	$ 12.8

Debt - Component of Debt (Detai

Debt - Component of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Unamortized original issue discount and debt issuance costs	$ (49,617)	$ (58,495)
Debt	2,217,208	2,501,130
Less current portion of long-term debt	39,527	126,144
Long-term debt	2,177,681	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	1,666,825	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	Sep. 30, 2017	Dec. 31, 2016
Senior Secured Credit Facilities Revolving Portion [Member]
Debt Instrument [Line Items]
Debt, weighted-average interest rate of credit facility			3.50%
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Debt, weighted-average interest rate of credit facility		3.42%	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	Sep. 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%
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	Sep. 30, 2017	Dec. 31, 2016
Carrying Amount [Member] | Senior Secured Credit Facilities [Member]
Financial liabilities:
Credit facility	$ 1,666,825	$ 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	1,673,024	1,887,043
Fair Value [Member] | 5.875% Senior Notes due 2023 [Member]
Financial liabilities:
Credit facility	$ 633,255	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	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 3,652,733
Adjustments to prior acquisitions	(621)
Effect of foreign currency translation	40,461
Ending balance	$ 3,692,573

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income	$ 64,227	$ 38,747	$ 163,525	$ 73,973
Shares:
Weighted average common shares outstanding — used in calculation of basic EPS	205,568	201,782	204,506	199,365
Weighted average common stock equivalents — options and restricted shares	6,791	4,853	6,574	5,969
Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS	212,359	206,635	211,080	205,334
Earnings per share - Basic	$ 0.31	$ 0.19	$ 0.80	$ 0.37
Earnings per share - Diluted	$ 0.30	$ 0.19	$ 0.77	$ 0.36

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Line Items]
Dividends paid on common stock			$ 39,917	$ 37,452
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
Third Quarter Dividend [Member]
Earnings Per Share [Line Items]
Quarterly cash dividend paid			$ 0.07	$ 0.0625
Dividend record date			Sep. 1, 2017	Sep. 1, 2016
Dividend paid date			Sep. 15, 2017	Sep. 15, 2016
Stock Options [Member]
Earnings Per Share [Line Items]
Options to purchase shares outstanding	641,227	10,702,466	10,779,326	14,094,402

Equity and Stock-based Compen31

Equity and Stock-based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 10,294	$ 12,489	$ 31,572	$ 40,402
Cost of Software-Enabled Services [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,903	2,732	8,525	7,916
Cost of Maintenance and Term Licenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	485	605	1,572	2,116
Cost of Recurring Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,388	3,337	10,097	10,032
Cost of Professional Services [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	565	493	1,695	1,736
Cost of Non-Recurring Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	565	493	1,695	1,736
Total Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,953	3,830	11,792	11,768
Selling and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,387	2,521	7,550	8,966
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,817	2,004	5,522	6,402
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,137	4,134	6,708	13,266
Total Operating Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 6,341	$ 8,659	$ 19,780	$ 28,634

Equity and Stock-based Compen32

Equity and Stock-based Compensation - Summary of Stock Option and SAR Activity (Detail)	9 Months Ended
	Sep. 30, 2017shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Opening	25,028,100
Granted	5,152,728
Cancelled/forfeited	(1,165,514)
Exercised	(2,983,441)
Number of Shares, Outstanding Closing	26,031,873

Equity and Stock-based Compen33

Equity and Stock-based Compensation - Summary of RSU Activity (Detail)	9 Months Ended
	Sep. 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	1,314
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	(20,458)
Vested	(146,528)
Number of Shares, Outstanding Closing	190,306

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	14.50%	19.10%	16.50%	23.40%

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Business Combinations [Abstract]
Revenues	$ 412,954	$ 1,221,894
Net income	$ 43,692	$ 93,856
Basic EPS	$ 0.22	$ 0.47
Diluted EPS	$ 0.21	$ 0.46
Basic weighted average number of common shares outstanding	201,782	199,365
Diluted weighted average number of common and common equivalent shares outstanding	206,635	205,334

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Conifer and GFS [Member]
Business Acquisition [Line Items]
Cash purchase price adjustments received in first quarter of 2017	$ 1.8

Supplemental Guarantor Financ37

Supplemental Guarantor Financial Statements - Additional Information (Detail) - USD ($)	Jul. 08, 2015	Sep. 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 Financ38

Supplemental Guarantor Financial Statements - Condensed Consolidating Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	$ 103,279			$ 103,279		$ 117,558
Accounts receivable, net	238,677			238,677		241,307
Prepaid expenses and other current assets	32,688			32,688		31,119
Prepaid income taxes	13,832			13,832		23,012
Restricted cash	592			592		2,116
Net property, plant and equipment	103,580			103,580		80,395
Deferred income taxes, long-term	2,166			2,166		2,410
Goodwill, intangible and other assets, net	5,103,807			5,103,807		5,209,054
Total assets	5,598,621			5,598,621		5,706,971
Current portion of long-term debt (Note 2)	39,527			39,527		126,144
Accounts payable	27,776			27,776		16,490
Accrued expenses	125,952			125,952		179,296
Income taxes payable						3,473
Deferred revenue	212,811			212,811		235,222
Long-term debt, net of current portion (Note 2)	2,177,681			2,177,681		2,374,986
Other long-term liabilities	85,767			85,767		59,227
Deferred income taxes, long-term	421,468			421,468		453,555
Total liabilities	3,090,982			3,090,982		3,448,393
Total stockholders’ equity	2,507,639			2,507,639		2,258,578
Total liabilities and stockholders’ equity	5,598,621			5,598,621		5,706,971
Revenues	418,251		$ 383,304	1,236,930	$ 1,080,512
Cost of revenues	219,802		208,027	660,953	595,190
Gross profit	198,449		175,277	575,977	485,322
Operating expenses:
Selling and marketing	28,181		27,328	88,544	85,724
Research and development	37,376		37,701	114,904	114,975
General and administrative	28,975		33,345	88,910	91,239
Total operating expenses	94,532		98,374	292,358	291,938
Operating income	103,917		76,903	283,619	193,384
Interest expense, net	(26,250)		(31,648)	(81,565)	(97,583)
Other (expense) income, net	(2,535)		2,655	(3,803)	820
Loss on extinguishment of debt		$ (2,300)		(2,326)
Income before income taxes	75,132		47,910	195,925	96,621
Provision for income taxes	10,905		9,163	32,400	22,648
Net income	64,227		38,747	163,525	73,973
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	19,951		(12,060)	51,696	(29,532)
Comprehensive income	84,178		26,687	215,221	44,441
Cash Flow from Operating Activities:
Net income	64,227		38,747	163,525	73,973
Non-cash adjustments				196,227	137,462
Changes in operating assets and liabilities				(52,662)	25,581
Net cash provided by operating activities				307,090	237,016
Cash Flow from Investment Activities:
Additions to property and equipment				(29,779)	(18,870)
Proceeds from sale of property and equipment				1	69
Cash paid for business acquisitions, net of cash acquired				1,805	(309,432)
Additions to capitalized software				(8,168)	(6,137)
Purchase of long-term investment					(1,000)
Net cash used in investing activities				(36,141)	(335,370)
Cash Flow from Financing Activities:
Cash received from debt borrowings				45,000
Repayments of debt				(337,800)	(268,550)
Transactions involving Holding's common stock				2,271	35,226
Payment of fees related to refinancing activities					(503)
Net cash used in financing activities				(290,529)	(233,827)
Effect of exchange rate changes on cash, cash equivalents and restricted cash				3,777	(880)
Net decrease in cash, cash equivalents and restricted cash				(15,803)	(333,061)
Cash, cash equivalents and restricted cash, beginning of period		119,674		119,674	436,977
Cash, cash equivalents and restricted cash, end of period	103,871		103,916	103,871	103,916
Parent [Member]
Condensed Financial Statements Captions [Line Items]
Investment in subsidiaries	3,186,168			3,186,168		2,910,669
Total assets	3,186,168			3,186,168		2,910,669
Accrued expenses	7,344			7,344		16,155
Long-term debt, net of current portion (Note 2)	600,000			600,000		600,000
Intercompany payables	71,185			71,185		35,936
Total liabilities	678,529			678,529		652,091
Total stockholders’ equity	2,507,639			2,507,639		2,258,578
Total liabilities and stockholders’ equity	3,186,168			3,186,168		2,910,669
Operating expenses:
Interest expense, net	(8,813)		(8,812)	(26,438)	(26,274)
Earnings from subsidiaries	73,040		47,559	189,963	100,247
Income before income taxes	64,227		38,747	163,525	73,973
Net income	64,227		38,747	163,525	73,973
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	19,951		(12,060)	51,696	(29,532)
Comprehensive income	84,178		26,687	215,221	44,441
Cash Flow from Operating Activities:
Net income	64,227		38,747	163,525	73,973
Intercompany transactions				35,251	35,935
Earnings from subsidiaries	(73,040)		(47,559)	(189,963)	(100,247)
Changes in operating assets and liabilities				(8,813)	(9,661)
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	19,294			19,294		33,723
Accounts receivable, net	165,723			165,723		174,927
Prepaid expenses and other current assets	18,469			18,469		18,129
Prepaid income taxes	13,803			13,803		21,600
Restricted cash	592			592		1,788
Net property, plant and equipment	62,791			62,791		42,358
Investment in subsidiaries	910,117			910,117		769,716
Intercompany receivables	223,838			223,838		162,791
Goodwill, intangible and other assets, net	3,906,024			3,906,024		4,021,445
Total assets	5,320,651			5,320,651		5,246,477
Current portion of long-term debt (Note 2)	13,797			13,797		108,989
Accounts payable	18,866			18,866		10,714
Accrued expenses	74,419			74,419		109,746
Deferred revenue	187,157			187,157		212,890
Long-term debt, net of current portion (Note 2)	1,313,753			1,313,753		1,416,695
Other long-term liabilities	50,829			50,829		29,827
Intercompany payables	92,305			92,305		39,894
Deferred income taxes, long-term	383,357			383,357		407,053
Total liabilities	2,134,483			2,134,483		2,335,808
Total stockholders’ equity	3,186,168			3,186,168		2,910,669
Total liabilities and stockholders’ equity	5,320,651			5,320,651		5,246,477
Revenues	290,020		262,350	866,090	738,655
Cost of revenues	145,925		137,369	441,464	389,133
Gross profit	144,095		124,981	424,626	349,522
Operating expenses:
Selling and marketing	20,760		20,448	66,093	64,313
Research and development	25,592		26,575	79,988	80,794
General and administrative	20,732		24,824	63,112	65,906
Total operating expenses	67,084		71,847	209,193	211,013
Operating income	77,011		53,134	215,433	138,509
Interest expense, net	(12,952)		(16,651)	(40,974)	(52,116)
Other (expense) income, net	(24,854)		(15,364)	(58,033)	(47,381)
Loss on extinguishment of debt				(1,743)
Earnings from subsidiaries	39,491		30,522	94,182	71,885
Income before income taxes	78,696		51,641	208,865	110,897
Provision for income taxes	5,656		4,082	18,902	10,650
Net income	73,040		47,559	189,963	100,247
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	19,951		(12,060)	51,696	(29,532)
Comprehensive income	92,991		35,499	241,659	70,715
Cash Flow from Operating Activities:
Net income	73,040		47,559	189,963	100,247
Non-cash adjustments				147,277	89,915
Intercompany transactions				5,875	(21,251)
Earnings from subsidiaries	(39,491)		(30,522)	(94,182)	(71,885)
Changes in operating assets and liabilities				(35,024)	40,315
Net cash provided by operating activities				213,909	137,341
Cash Flow from Investment Activities:
Additions to property and equipment				(22,850)	(7,672)
Proceeds from sale of property and equipment				1	67
Cash paid for business acquisitions, net of cash acquired				1,802	(214,689)
Additions to capitalized software				(5,645)	(3,860)
Purchase of long-term investment					(1,000)
Net cash used in investing activities				(26,692)	(227,154)
Cash Flow from Financing Activities:
Cash received from debt borrowings				45,000
Repayments of debt				(249,800)	(195,500)
Transactions involving Holding's common stock				2,273	35,226
Intercompany transactions				(315)	(87,272)
Payment of fees related to refinancing activities					(503)
Net cash used in financing activities				(202,842)	(248,049)
Net decrease in cash, cash equivalents and restricted cash				(15,625)	(337,862)
Cash, cash equivalents and restricted cash, beginning of period		35,511		35,511	363,073
Cash, cash equivalents and restricted cash, end of period	19,886		25,211	19,886	25,211
Non-guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	83,985			83,985		83,835
Accounts receivable, net	72,954			72,954		66,380
Prepaid expenses and other current assets	14,219			14,219		12,990
Prepaid income taxes	29			29		1,412
Restricted cash						328
Net property, plant and equipment	40,789			40,789		38,037
Intercompany receivables	92,305			92,305		39,894
Deferred income taxes, long-term	2,166			2,166		2,410
Goodwill, intangible and other assets, net	1,197,783			1,197,783		1,187,609
Total assets	1,504,230			1,504,230		1,432,895
Current portion of long-term debt (Note 2)	25,730			25,730		17,155
Accounts payable	8,910			8,910		5,776
Accrued expenses	44,189			44,189		53,395
Income taxes payable						3,473
Deferred revenue	25,654			25,654		22,332
Long-term debt, net of current portion (Note 2)	263,928			263,928		358,291
Other long-term liabilities	34,938			34,938		29,400
Intercompany payables	152,653			152,653		126,855
Deferred income taxes, long-term	38,111			38,111		46,502
Total liabilities	594,113			594,113		663,179
Total stockholders’ equity	910,117			910,117		769,716
Total liabilities and stockholders’ equity	1,504,230			1,504,230		1,432,895
Revenues	128,593		121,385	372,124	343,153
Cost of revenues	74,239		71,089	220,773	207,353
Gross profit	54,354		50,296	151,351	135,800
Operating expenses:
Selling and marketing	7,421		6,880	22,451	21,411
Research and development	11,784		11,126	34,916	34,181
General and administrative	8,243		8,521	25,798	25,333
Total operating expenses	27,448		26,527	83,165	80,925
Operating income	26,906		23,769	68,186	54,875
Interest expense, net	(4,485)		(6,185)	(14,153)	(19,193)
Other (expense) income, net	22,319		18,019	54,230	48,201
Loss on extinguishment of debt				(583)
Income before income taxes	44,740		35,603	107,680	83,883
Provision for income taxes	5,249		5,081	13,498	11,998
Net income	39,491		30,522	94,182	71,885
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	16,898		(10,844)	45,905	(33,293)
Comprehensive income	56,389		19,678	140,087	38,592
Cash Flow from Operating Activities:
Net income	39,491		30,522	94,182	71,885
Non-cash adjustments				48,950	47,547
Intercompany transactions				(41,126)	(14,684)
Changes in operating assets and liabilities				(8,825)	(5,073)
Net cash provided by operating activities				93,181	99,675
Cash Flow from Investment Activities:
Additions to property and equipment				(6,929)	(11,198)
Proceeds from sale of property and equipment					2
Cash paid for business acquisitions, net of cash acquired				3	(94,743)
Additions to capitalized software				(2,523)	(2,277)
Net cash used in investing activities				(9,449)	(108,216)
Cash Flow from Financing Activities:
Repayments of debt				(88,000)	(73,050)
Transactions involving Holding's common stock				(2)
Intercompany transactions				315	87,272
Net cash used in financing activities				(87,687)	14,222
Effect of exchange rate changes on cash, cash equivalents and restricted cash				3,777	(880)
Net decrease in cash, cash equivalents and restricted cash				(178)	4,801
Cash, cash equivalents and restricted cash, beginning of period		$ 84,163		84,163	73,904
Cash, cash equivalents and restricted cash, end of period	83,985		78,705	83,985	78,705
Consolidating and Eliminating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Investment in subsidiaries	(4,096,285)			(4,096,285)		(3,680,385)
Intercompany receivables	(316,143)			(316,143)		(202,685)
Total assets	(4,412,428)			(4,412,428)		(3,883,070)
Intercompany payables	(316,143)			(316,143)		(202,685)
Total liabilities	(316,143)			(316,143)		(202,685)
Total stockholders’ equity	(4,096,285)			(4,096,285)		(3,680,385)
Total liabilities and stockholders’ equity	(4,412,428)			(4,412,428)		$ (3,883,070)
Revenues	(362)		(431)	(1,284)	(1,296)
Cost of revenues	(362)		(431)	(1,284)	(1,296)
Operating expenses:
Earnings from subsidiaries	(112,531)		(78,081)	(284,145)	(172,132)
Income before income taxes	(112,531)		(78,081)	(284,145)	(172,132)
Net income	(112,531)		(78,081)	(284,145)	(172,132)
Other comprehensive income (loss), net of tax:
Foreign currency exchange translation adjustment	(36,849)		22,904	(97,601)	62,825
Comprehensive income	(149,380)		(55,177)	(381,746)	(109,307)
Cash Flow from Operating Activities:
Net income	(112,531)		(78,081)	(284,145)	(172,132)
Earnings from subsidiaries	$ 112,531		$ 78,081	$ 284,145	$ 172,132

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Millions	Oct. 13, 2017USD ($)
Common Wealth [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Purchased stock value, subject to certain adjustments	$ 16.4