SS&C Technologies (SSNC) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 02, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
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		238,091,089

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 74,077	$ 64,057
Accounts receivable, net of allowance for doubtful accounts of $7,390 and $6,739, respectively	264,076	243,900
Contract asset	11,942
Prepaid expenses and other current assets	35,559	38,742
Prepaid income taxes		12,166
Restricted cash	543	592
Total current assets	386,197	359,457
Property, plant and equipment:
Land	2,655	2,655
Building and improvements	61,354	59,935
Equipment, furniture, and fixtures	144,825	138,747
Total property and equipment	208,834	201,337
Less: accumulated depreciation	(106,840)	(100,381)
Net property, plant and equipment	101,994	100,956
Deferred income taxes	2,041	2,324
Contract asset	22,076
Goodwill (Note 4)	3,711,181	3,707,823
Intangible and other assets, net of accumulated amortization of $1,011,145 and $953,957, respectively	1,326,095	1,368,956
Total assets	5,549,584	5,539,516
Current liabilities:
Current portion of long-term debt (Note 3)	37,338	37,863
Accounts payable	17,637	27,087
Income taxes payable	16,182	6,031
Accrued employee compensation and benefits	42,193	96,016
Interest payable	7,620	16,425
Other accrued expenses	60,875	55,637
Deferred revenue	193,024	204,601
Total current liabilities	374,869	443,660
Long-term debt, net of current portion (Note 3)	1,949,232	2,007,332
Other long-term liabilities	120,621	118,679
Deferred income taxes	288,954	283,457
Total liabilities	2,733,676	2,853,128
Commitments and contingencies (Note 9)
Stockholders’ equity (Note 6):
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized; no shares issued
Common stock	2,094	2,081
Additional paid-in capital	2,057,757	2,018,106
Accumulated other comprehensive loss	(77,438)	(82,655)
Retained earnings	851,495	766,856
Stockholders' equity before treasury stock	2,833,908	2,704,388
Less: cost of common stock in treasury, 1,573,339 shares	(18,000)	(18,000)
Total stockholders’ equity	2,815,908	2,686,388
Total liabilities and stockholders’ equity	5,549,584	5,539,516
Class A Non-Voting Common Stock [Member]
Stockholders’ equity (Note 6):
Common stock

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Allowance for doubtful accounts receivable	$ 7,390	$ 6,739
Accumulated amortization of finite-lived intangible assets	$ 1,011,145	$ 953,957
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	209,375,921	208,109,294
Common stock, shares outstanding	207,802,582	206,535,955
Common stock, shares unvested	938	1,126
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
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Software-enabled services	$ 294,803	$ 276,452
License, maintenance and related	127,126	131,247
Total revenues	421,929	407,699
Cost of revenues:
Software-enabled services	167,416	154,006
License, maintenance and related	62,164	63,453
Total cost of revenues	229,580	217,459
Gross profit	192,349	190,240
Operating expenses:
Selling and marketing	31,150	30,242
Research and development	38,919	38,449
General and administrative	35,433	31,832
Total operating expenses	105,502	100,523
Operating income	86,847	89,717
Interest expense, net	(25,354)	(29,020)
Other income (expense), net	438	(71)
Loss on extinguishment of debt		(2,326)
Income before income taxes	61,931	58,300
Provision for income taxes	10,681	10,153
Net income	$ 51,250	$ 48,147
Basic earnings per share	$ 0.25	$ 0.24
Diluted earnings per share	$ 0.24	$ 0.23
Basic weighted average number of common shares outstanding	206,993	203,376
Diluted weighted average number of common and common equivalent shares outstanding	217,656	209,704
Cash dividends declared and paid per common share	$ 0.07	$ 0.0625
Net income	$ 51,250	$ 48,147
Other comprehensive income, net of tax:
Foreign currency exchange translation adjustment	5,217	10,779
Total comprehensive income, net of tax	5,217	10,779
Comprehensive income	$ 56,467	$ 58,926

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flow from operating activities:
Net income	$ 51,250	$ 48,147
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	61,372	58,557
Stock-based compensation expense	12,702	10,900
Amortization and write-offs of loan origination costs	2,626	2,656
Loss on extinguishment of debt		2,326
Loss on sale or disposition of property and equipment	28	10
Deferred income taxes	(12,425)	(7,295)
Provision for doubtful accounts	44	1,154
Changes in operating assets and liabilities, excluding effects from acquisitions:
Accounts receivable	(19,818)	(7,087)
Prepaid expenses and other assets	(30)	(2,532)
Contract assets	26,847
Accounts payable	(10,548)	6,106
Accrued expenses	(54,389)	(72,908)
Income taxes prepaid and payable	19,680	5,077
Deferred revenue	(7,395)	12,777
Net cash provided by operating activities	69,944	57,888
Cash flow from investing activities:
Additions to property and equipment	(7,163)	(5,990)
Cash paid for business acquisitions, net of cash acquired	(191)	1,805
Additions to capitalized software	(3,945)	(3,277)
Net cash used in investing activities	(11,299)	(7,462)
Cash flow from financing activities:
Cash received from debt borrowings	45,000	45,000
Repayments of debt	(106,250)	(105,200)
Proceeds from exercise of stock options	29,132	14,017
Withholding taxes paid related to equity award net share settlement	(2,171)	(589)
Fees paid for debt extinguishment		(1,363)
Dividends paid on common stock	(14,504)	(12,715)
Net cash used in financing activities	(48,793)	(60,850)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	119	1,663
Net increase (decrease) in cash, cash equivalents and restricted cash	9,971	(8,761)
Cash, cash equivalents and restricted cash, beginning of period	64,649	119,674
Cash, cash equivalents and restricted cash, end of period	$ 74,620	$ 110,913

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
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, 2017, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2018 (the “2017 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 March 31, 2018, the results of its operations for the three months ended March 31, 2018 and 2017 and its cash flows for the three months ended March 31, 2018 and 2017. 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, 2017, which were included in the 2017 Form 10-K. The December 31, 2017 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 months ended March 31, 2018 are not necessarily indicative of the expected results for any subsequent quarters or the full year. In connection with the adoption of ASC 606, the Company revised its presentation of revenues to illustrate its two primary sources of revenues: software-enabled services revenues and license, maintenance and other related revenues. The Company believes its prior presentation of recurring and non-recurring revenue streams is no longer useful, as the license portion of revenue from multi-year term license agreements is now recognized up-front and is no longer annually recurring in nature. Recently Adopted Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, Classification of Certain Cash Receipts and Cash Payments In May 2014, the FASB issued ASU, Revenue from Contracts with Customers (Topic 606) Recent Accounting Pronouncements Not Yet Effective 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.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenues	Note 2—Revenues Adoption of ASC Topic 606, “Revenue from Contracts with Customers” On January 1, 2018, the Company adopted ASC 606 using the modified retrospective method for those contracts which were not completed as of the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts continue to be reported in accordance with ASC 605 and 985. The most significant impact of the standard to the Company relates to the timing of revenue recognition for arrangements involving term licenses. Under ASC 606, the Company is required to recognize term license revenues upon the transfer of the license and recognize the associated maintenance revenues over the contract period, as opposed to the Company’s prior practice of recognizing both the term license and maintenance revenues ratably over the contract period. In addition, the Company is required to capitalize and amortize incremental costs of obtaining a contract, such as certain sales commission costs, over the expected customer relationship period if the Company expects to recover those costs. The Company previously expensed these costs over the length of the initial contract excluding any renewals. The Company recorded an increase to retained earnings of $65.8 million, or $47.9 million net of tax, as of January 1, 2018 due to the cumulative impact of adopting ASC 606, with the impact primarily related to the Company’s term license revenues. The impact to revenues for the three months ended March 31, 2018 related to these adjustments was a decrease of $11.8 million. The impact of adoption of ASC 606 on the Company’s Condensed Consolidated Statement of Comprehensive Income was as follows (in thousands): For the Three Months Ended March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Revenues: License, maintenance and related $ 127,126 $ 122,128 $ 4,998 Operating expenses: Selling and marketing $ 31,150 $ 31,748 $ (598 ) The impact of adoption of ASC 606 on the Company’s Condensed Consolidated Balance Sheet was as follows (in thousands): As of March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Assets: Accounts receivable, net $ 264,076 $ 265,272 $ (1,196 ) Contract asset (current) 11,942 - 11,942 Prepaid expenses and other current assets 35,559 31,943 3,616 Contract asset (non-current) 22,076 - 22,076 Liabilities: Deferred revenue $ 193,024 $ 230,504 $ (37,480 ) Other long-term liabilities 120,621 118,115 2,506 The adoption of ASC 606 had no impact on the Company’s total cash flows from operations. Revenue Recognition Software-enabled Services Revenue The Company primarily offers software-enabled outsourcing services in which the Company utilizes its own software to offer comprehensive fund administration services for alternative investment managers, including fund manager services, transfer agency services, funds-of-funds services, tax processing and accounting. The Company also offers subscription-based on-demand software applications that are managed and hosted at the Company’s facilities. The software-enabled services arrangements provide an alternative for clients who do not wish to install, run and maintain complicated financial software. Under these arrangements, the client does not have the right to take possession of the software, rather, the Company agrees to provide access to its applications, remote use of its equipment to process transactions, access to client’s data stored on its equipment, and connectivity between its environment and the client’s computing systems. Software-enabled services are generally provided under contracts with initial terms of one to five years that require monthly or quarterly payments, and are subject to automatic annual renewal at the end of the initial term unless terminated by either party. In software-enabled services arrangements, the arrangement is a single performance obligation comprised of a series of distinct services that are substantially the same and have the same pattern of transfer to the customer (i.e. distinct months of service). The Company applies a measure of progress (typically time-based) to any fixed consideration and allocates variable consideration to the distinct periods of service based on usage or summarization of account information. These amounts may be constrained and are only included in revenue to the extent we do not expect a significant reversal when the uncertainty associated with the variable consideration is resolved. Revenue is generally recognized over the period the services are provided, which results in revenue recognition that corresponds with the value to the client of the services transferred to date relative to the remaining services promised. License, Maintenance and Related Revenue Agreements The Company generates revenues in the form of software license fees and related maintenance and services fees. License fees include perpetual license fees and term license fees which differ mainly in the duration over which the customer benefits from the software. Maintenance and services primarily consist of fees for maintenance services (including support and unspecified upgrades and enhancements when and if they are available) and to a lesser extent professional services which focus on both deployment and training the Company’s customers to fully leverage the use of its products although the user can benefit from the software without the Company’s assistance. Under ASC 606, the Company identifies a contract with a customer, identifies the performance obligations in the contract, determines the transaction price, allocates the transaction price to each performance obligation in the contract and recognizes revenues when (or as) the Company satisfies a performance obligation. Software license performance obligations are functional intellectual property that are distinct as the user can benefit from the software on its own as defined under ASC 606. Software license revenues are recognized at the point of time when the software license has been delivered. Term license fees are typically due in annual installments at the beginning of each annual period and we record a contract asset for amounts recognized as revenue in excess of amounts billed. The Company recognizes revenues from maintenance ratably over the term of the underlying maintenance contract term because the Company transfers control evenly by providing a stand-ready service Revenues from professional services consist mostly of services provided on a time and materials basis. The performance obligations are satisfied, and revenues are recognized, over time as the services are provided. In contracts with multiple performance obligations, the Company accounts for individual performance obligations separately if they are distinct. The Company allocates the transaction price to each performance obligation based on its relative standalone selling price out of total consideration of the contract. Standalone selling price is determined utilizing observable prices to the extent available. If the standalone selling price for a performance obligation is not directly observable, the Company estimates it maximizing the use of observable inputs. For maintenance and support, the Company determines the standalone selling price based on the price at which the Company separately sells a renewal contract and the economic relationship between licenses and maintenance. The Company determines the standalone selling price for sales of licenses using the residual approach. For professional services, the Company determines the standalone selling prices based on the price at which the Company separately sells those services. The Company occasionally enters into license agreements requiring significant customization of the Company’s software which are not material to the Company’s results of operations. The Company accounts for the license and professional service fees under these agreements as a single performance obligation, recognized over time using an input method during the development of the license. This method requires estimates to be made for costs to complete the agreement utilizing an estimate of development man-hours remaining. Revenue is recognized each period based on the hours incurred to date compared to the total hours expected to complete the project. Due to uncertainties inherent in the estimation process, it is at least reasonably possible that completion costs may be revised. Such revisions are recognized in the period in which the revisions are determined. Provisions for estimated losses on uncompleted contracts are determined on a contract-by-contract basis, and are made in the period in which such losses are first estimated or determined. Accounts Receivable, net is primarily comprised of billed and unbilled receivables for which we have an unconditional right to consideration, net of an allowance for doubtful accounts. Deferred revenues represent mostly unrecognized fees billed or collected for maintenance and professional services. Deferred revenues are recognized as (or when) the Company performs under the contract. Deferred revenues are recorded on a net basis with contract assets at the contract level. Accordingly, approximately $29.3 million of deferred revenue is presented net within contract assets arising from the same contracts. The amount of revenues recognized in the period that was included in the opening deferred revenues balance was $76.5 million for the three months ended March 31, 2018. As of March 31, 2018, revenue of approximately $266.3 million is expected to be recognized from remaining performance obligations for license, maintenance and related revenues, of which $174.1 million is expected to be recognized over the next twelve months. Software-enabled services are generally provided under contracts which are cancelable with 90 days’ notice. Revenue Disaggregation The following table disaggregates our revenues by geography (in thousands): Three Months Ended March 31, 2018 2017 (1) United States $ 302,703 $ 296,836 United Kingdom 32,011 27,543 Asia-Pacific and Japan 28,988 26,449 Europe, excluding United Kingdom 27,808 24,876 Canada 18,318 20,628 Americas, excluding United States and Canada 12,101 11,367 Total $ 421,929 $ 407,699 (1) As noted above, prior period amounts have not been adjusted under the modified retrospective method. The following table disaggregates our revenues by source (in thousands): Three Months Ended March 31, 2018 2017 (1) Software-enabled services $ 294,803 $ 276,452 Maintenance and term licenses 107,756 110,557 Perpetual licenses 4,400 2,828 Professional services 14,970 17,862 Total $ 421,929 $ 407,699 (1) As noted above, prior period amounts have not been adjusted under the modified retrospective method. Costs of Revenues Costs of revenues include all costs, including depreciation and amortization, incurred to produce revenues. Incremental costs of obtaining a contract (e.g., sales commissions) are capitalized and amortized on a basis consistent with the pattern of transfer of goods or services to the customer to which the asset relates over the expected customer relationship period if the Company expects to recover those costs. The Company previously expensed these costs over the length of the initial contract excluding any renewals. The expected customer relationship period is determined based on average historical customer relationship periods, including expected renewals. Expected renewal periods are only included in the expected customer relationship period if commission amounts paid upon renewal are not commensurate with amounts paid on the initial contract. Incremental costs of obtaining a contract include only those costs the Company incurs to obtain a contract that it would not have incurred if the contract had not been obtained. The Company has determined that certain commissions programs meet the requirements to be capitalized. Certain sales commissions associated with multi-year contracts are subject to an employee service requirement. As an action other than each party approving the contract is required to trigger payment of these sales commissions, they are not considered incremental costs to obtain a contract and are expensed as incurred. Practical Expedients The Company applies a practical expedient to expense sales commissions as incurred when the amortization period would have been one year or less. As a practical expedient, the Company does not account for significant financing components if the period between when the Company transfers the promised product or service to the client and when the client pays for that product or service will be one year or less. For the Company’s software-enabled services contracts which are cancelable with 90 days’ notice, the Company uses the practical expedient applicable to such contracts and has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue. The Company records revenue net of any taxes assessed by governmental authorities.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Note 3—Debt At March 31, 2018 and December 31, 2017, debt consisted of the following (in thousands): March 31, 2018 December 31, 2017 Senior secured credit facilities, weighted-average interest rate of 4.05% and 3.75%, respectively $ 1,430,925 $ 1,492,175 5.875% senior notes due 2023 600,000 600,000 Unamortized original issue discount and debt issuance costs (44,355 ) (46,980 ) 1,986,570 2,045,195 Less current portion of long-term debt 37,338 37,863 Long-term debt $ 1,949,232 $ 2,007,332 Fair value of debt. The carrying amounts and fair values of financial instruments are as follows (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 1,430,925 $ 1,436,911 $ 1,492,175 $ 1,500,761 5.875% senior notes due 2023 600,000 630,660 600,000 631,313 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	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 4—Goodwill The change in carrying value of goodwill as of and for the three months ended March 31, 2018 is as follows (in thousands): Balance at December 31, 2017 $ 3,707,823 Adjustments to prior acquisitions 208 Effect of foreign currency translation 3,150 Balance at March 31, 2018 $ 3,711,181

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per Share	Note 5—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 March 31, 2018 2017 Net income $ 51,250 $ 48,147 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 206,993 203,376 Weighted average common stock equivalents — options and restricted shares 10,663 6,328 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 217,656 209,704 Earnings per share - Basic $ 0.25 $ 0.24 Earnings per share - Diluted $ 0.24 $ 0.23 Weighted average stock options and SARs representing 182,333 and 14,455,614 shares were outstanding for the three months ended March 31, 2018 and 2017, respectively, but were not included in the computation of diluted EPS because the effect of including them would be anti-dilutive. Dividends . In 2018, the Company paid a quarterly cash dividend of $0.07 per share of common stock on March 15, 2018 to stockholders of record as of the close of business on March 1, 2018 totaling $14.5 million. In 2017, the Company paid a quarterly cash dividend of $0.0625 per share of common stock on March 15, 2017 to stockholders of record as of the close of business on March 1, 2017, totaling $12.7 million.

Equity and Stock-based Compensa

Equity and Stock-based Compensation	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Equity and Stock-based Compensation	Note 6—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 months ended March 31, 2018 and 2017 was as follows (in thousands): For the Three Months Ended March 31, Consolidated Statements of Comprehensive Income Classification 2018 2017 Cost of software-enabled services $ 3,544 $ 2,729 Cost of license, maintenance and other related 1,094 1,106 Total cost of revenues 4,638 3,835 Selling and marketing 2,682 2,673 Research and development 2,083 1,987 General and administrative 3,299 2,405 Total operating expenses 8,064 7,065 Total stock-based compensation expense $ 12,702 $ 10,900 The following table summarizes stock option and SAR activity as of and for the three months ended March 31, 2018: Shares Outstanding at December 31, 2017 31,339,515 Granted 347,500 Cancelled/forfeited (218,882 ) Exercised (1,413,744 ) Outstanding at March 31, 2018 30,054,389 The following table summarizes RSU activity as of and for the three months ended March 31, 2018: Shares Outstanding at December 31, 2017 183,076 Granted 24,923 Cancelled/forfeited (556 ) Vested (14,628 ) Outstanding at March 31, 2018 192,815

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 7—Income Taxes The effective tax rate was 17.2% and 17.4% for the three months ended March 31, 2018 and 2017, respectively. The change in the effective tax rate for the three months ended March 31, 2018 was primarily due to the decrease in the domestic statutory tax rate from 35% to 21%, offset partially by the unfavorable impact of a tax on Global Intangible Low-Taxed Income (“GILTI”). Both the domestic statutory tax rate decrease and GILTI tax became effective January 1, 2018 as a result of the Tax Cut and Jobs Act of 2017 (“Tax Act”) enacted into law in the U.S. on December 22, 2017. In December 2017, the SEC Staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to provide guidance on how to implement the accounting required as a result of the Tax Act. Due to the complexity of the Tax Act, SAB 118 allowed companies to record provisional amounts, or reasonable estimates of the tax effects of the Act during a measurement period not to exceed one year beyond the enactment date. Accordingly, we provided provisional amounts for the period ending December 31, 2017 relating to the deemed repatriation provisions, revaluation of deferred taxes, other international provisions and the related state tax impacts. We have not yet completed our accounting related to these items and we did not record any significant adjustments related to our provisional amounts during the period ending March 31, 2018. We will continue to analyze the provisional amounts in conjunction with guidance issued by the Department of Treasury in order to complete our accounting during the measurement period.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions	Note 8—Acquisitions The following unaudited pro forma condensed consolidated results of operations are provided for illustrative purposes only and assume that the acquisitions of CommonWealth Fund Services Ltd. and Modestspark occurred on January 1, 2016. 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 March 31, 2017 Revenues $ 411,045 Net income $ 50,482 Basic EPS $ 0.25 Diluted EPS $ 0.24 Basic weighted average number of common shares outstanding 203,376 Diluted weighted average number of common and common equivalent shares outstanding 209,704

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9—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	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplemental Guarantor Financial Statements	Note 10—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. Condensed consolidating financial information as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017 are presented. The condensed consolidating financial information of the Company and its subsidiaries are as follows (in thousands): March 31, 2018 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 10,952 $ 63,125 $ — $ 74,077 Accounts receivable, net — 177,378 86,698 — 264,076 Contract asset — 11,156 786 — 11,942 Prepaid expenses and other current assets — 16,100 19,459 — 35,559 Restricted cash — 543 — — 543 Net property, plant and equipment — 61,058 40,936 — 101,994 Investment in subsidiaries 3,512,062 982,351 — (4,494,413 ) — Intercompany receivables — 265,532 116,137 (381,669 ) — Deferred income taxes, long-term — — 2,041 — 2,041 Long-term contract asset — 21,406 670 — 22,076 Goodwill, intangible and other assets, net — 3,836,385 1,200,891 — 5,037,276 Total assets $ 3,512,062 $ 5,382,861 $ 1,530,743 $ (4,876,082 ) $ 5,549,584 Current portion of long-term debt — 12,199 25,139 — 37,338 Accounts payable — 8,441 9,196 — 17,637 Accrued expenses 7,344 57,597 45,747 — 110,688 Income taxes payable — 13,140 3,042 — 16,182 Deferred revenue — 163,056 29,968 — 193,024 Long-term debt, net of current portion 600,000 1,154,848 194,384 — 1,949,232 Other long-term liabilities — 83,125 37,496 — 120,621 Intercompany payables 88,810 116,137 176,722 (381,669 ) — Deferred income taxes, long-term — 262,256 26,698 — 288,954 Total liabilities 696,154 1,870,799 548,392 (381,669 ) 2,733,676 Total stockholders’ equity 2,815,908 3,512,062 982,351 (4,494,413 ) 2,815,908 Total liabilities and stockholders’ equity $ 3,512,062 $ 5,382,861 $ 1,530,743 $ (4,876,082 ) $ 5,549,584 December 31, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 21,191 $ 42,866 $ — $ 64,057 Accounts receivable, net — 173,997 69,903 — 243,900 Prepaid expenses and other current assets — 19,770 18,972 — 38,742 Prepaid income taxes — 6,366 5,800 — 12,166 Restricted cash — 592 — — 592 Net property, plant and equipment — 60,774 40,182 — 100,956 Investment in subsidiaries 3,373,730 938,794 — (4,312,524 ) — Intercompany receivables — 199,503 74,005 (273,508 ) — Deferred income taxes, long-term — — 2,324 — 2,324 Goodwill, intangible and other assets, net — 3,871,503 1,205,276 — 5,076,779 Total assets $ 3,373,730 $ 5,292,490 $ 1,459,328 $ (4,586,032 ) $ 5,539,516 Current portion of long-term debt — 12,626 25,237 — 37,863 Accounts payable — 19,223 7,864 — 27,087 Accrued expenses 16,157 96,540 55,381 — 168,078 Income taxes payable — — 6,031 — 6,031 Deferred revenue — 182,181 22,420 — 204,601 Long-term debt, net of current portion 600,000 1,197,576 209,756 — 2,007,332 Other long-term liabilities — 82,239 36,440 — 118,679 Intercompany payables 71,185 74,005 128,318 (273,508 ) — Deferred income taxes, long-term — 254,370 29,087 — 283,457 Total liabilities 687,342 1,918,760 520,534 (273,508 ) 2,853,128 Total stockholders’ equity 2,686,388 3,373,730 938,794 (4,312,524 ) 2,686,388 Total liabilities and stockholders’ equity $ 3,373,730 $ 5,292,490 $ 1,459,328 $ (4,586,032 ) $ 5,539,516 For the Three Months Ended March 31, 2018 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 287,651 $ 134,453 $ (175 ) $ 421,929 Cost of revenues — 149,678 80,077 (175 ) 229,580 Gross profit — 137,973 54,376 — 192,349 Operating expenses: Selling and marketing — 22,025 9,125 — 31,150 Research and development — 27,289 11,630 — 38,919 General and administrative — 26,690 8,743 — 35,433 Total operating expenses — 76,004 29,498 — 105,502 Operating income — 61,969 24,878 — 86,847 Interest expense, net (8,813 ) (12,267 ) (4,274 ) — (25,354 ) Other (expense) income, net — (18,846 ) 19,284 — 438 Earnings from subsidiaries 60,063 33,480 — (93,543 ) — Income before income taxes 51,250 64,336 39,888 (93,543 ) 61,931 Provision for income taxes — 4,273 6,408 — 10,681 Net income $ 51,250 $ 60,063 $ 33,480 $ (93,543 ) $ 51,250 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 5,217 5,217 7,386 (12,603 ) 5,217 Comprehensive income $ 56,467 $ 65,280 $ 40,866 $ (106,146 ) $ 56,467 For the Three Months Ended March 31, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 286,034 $ 122,100 $ (435 ) $ 407,699 Cost of revenues — 144,757 73,137 (435 ) 217,459 Gross profit — 141,277 48,963 — 190,240 Operating expenses: Selling and marketing — 22,625 7,617 — 30,242 Research and development — 27,169 11,280 — 38,449 General and administrative — 22,608 9,224 — 31,832 Total operating expenses — 72,402 28,121 — 100,523 Operating income — 68,875 20,842 — 89,717 Interest expense, net (8,813 ) (15,004 ) (5,203 ) — (29,020 ) Other (expense) income, net — (17,731 ) 17,660 — (71 ) Loss on extinguishment of debt — (1,743 ) (583 ) — (2,326 ) Earnings from subsidiaries 56,960 28,629 — (85,589 ) — Income before income taxes 48,147 63,026 32,716 (85,589 ) 58,300 Provision for income taxes — 6,066 4,087 — 10,153 Net income $ 48,147 $ 56,960 $ 28,629 $ (85,589 ) $ 48,147 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 10,779 10,779 10,109 (20,888 ) 10,779 Comprehensive income $ 58,926 $ 67,739 $ 38,738 $ (106,477 ) $ 58,926 For the Three Months Ended March 31, 2018 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 51,250 $ 60,063 $ 33,480 $ (93,543 ) $ 51,250 Non-cash adjustments — 48,163 16,184 — 64,347 Intercompany transactions 17,626 (22,927 ) 5,301 — — Earnings from subsidiaries (60,063 ) (33,480 ) — 93,543 — Changes in operating assets and liabilities (8,813 ) (22,644 ) (14,196 ) — (45,653 ) Net cash provided by operating activities — 29,175 40,769 — 69,944 Cash Flow from Investment Activities: Additions to property and equipment — (4,173 ) (2,990 ) — (7,163 ) Cash paid for business acquisitions, net of cash acquired — — (191 ) — (191 ) Additions to capitalized software — (2,689 ) (1,256 ) — (3,945 ) Net cash used in investing activities — (6,862 ) (4,437 ) — (11,299 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (90,250 ) (16,000 ) — (106,250 ) Transactions involving Holding's common stock — 12,457 — — 12,457 Intercompany transactions — 192 (192 ) — — Net cash used in financing activities — (32,601 ) (16,192 ) — (48,793 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 119 — 119 Net increase (decrease) in cash, cash equivalents and restricted cash — (10,288 ) 20,259 — 9,971 Cash, cash equivalents and restricted cash, beginning of period — 21,783 42,866 — 64,649 Cash, cash equivalents and restricted cash, end of period $ — $ 11,495 $ 63,125 $ — $ 74,620 For the Three Months Ended March 31, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 48,147 $ 56,960 $ 28,629 $ (85,589 ) $ 48,147 Non-cash adjustments — 51,401 16,907 — 68,308 Intercompany transactions 17,625 (12,791 ) (4,834 ) — — Earnings from subsidiaries (56,960 ) (28,629 ) — 85,589 — Changes in operating assets and liabilities (8,812 ) (36,492 ) (13,263 ) — (58,567 ) Net cash provided by operating activities — 30,449 27,439 — 57,888 Cash Flow from Investment Activities: Additions to property and equipment — (5,027 ) (963 ) — (5,990 ) Cash paid for business acquisitions, net of cash acquired — 1,802 3 — 1,805 Additions to capitalized software — (2,331 ) (946 ) — (3,277 ) Net cash used in investing activities — (5,556 ) (1,906 ) — (7,462 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (77,200 ) (28,000 ) — (105,200 ) Transactions involving Holding's common stock — 713 — — 713 Fees paid for debt extinguishment — (943 ) (420 ) — (1,363 ) Intercompany transactions — 60 (60 ) — — Net cash used in financing activities — (32,370 ) (28,480 ) — (60,850 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 1,663 — 1,663 Net decrease in cash, cash equivalents and restricted cash — (7,477 ) (1,284 ) — (8,761 ) Cash, cash equivalents and restricted cash, beginning of period — 35,511 84,163 — 119,674 Cash, cash equivalents and restricted cash, end of period $ — $ 28,034 $ 82,879 $ — $ 110,913

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 11—Subsequent Events Equity offering. In April 2018, the Company completed a public offering of its common stock. The offering included 30,262,250 newly issued shares of common stock sold by the Company at an offering price to the public of $47.50 per share for which the Company received total net proceeds of approximately $1.4 billion. A cquisition of DST Systems, Inc. On April 16, 2018, the Company purchased all of the outstanding stock of DST Systems, Inc. (“DST”) for approximately $5.0 billion in cash, plus the costs, fees, expenses and debt assumed in connection with the transaction. In connection with this acquisition, the Company entered into an amended and restated senior secured credit facility pursuant to which the Company borrowed an aggregate of approximately $7.4 billion (approximately $524.5 million of which was rolled over from the Company’s existing credit facility). A portion of these proceeds was used to repay the Company’s Senior Notes and the remaining amounts outstanding under the Company’s existing credit facility. In addition, the amended and restated senior secured credit facility includes an undrawn revolving credit facility of $250.0 million. DST is a global provider of specialized technology, strategic advisory and business operations outsourcing to the financial services and healthcare industries. The net assets and results of operations of DST will be included in the Company’s consolidated financial statements from April 16, 2018. The relevant business combination disclosures will be included in the Company’s consolidated financial statements once preliminary accounting has been completed.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, Classification of Certain Cash Receipts and Cash Payments In May 2014, the FASB issued ASU, Revenue from Contracts with Customers (Topic 606)
Recent Accounting Pronouncements Not Yet Effective	Recent Accounting Pronouncements Not Yet Effective 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.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Disaggregation of Revenues by Geography and Source	The following table disaggregates our revenues by geography (in thousands): Three Months Ended March 31, 2018 2017 (1) United States $ 302,703 $ 296,836 United Kingdom 32,011 27,543 Asia-Pacific and Japan 28,988 26,449 Europe, excluding United Kingdom 27,808 24,876 Canada 18,318 20,628 Americas, excluding United States and Canada 12,101 11,367 Total $ 421,929 $ 407,699 (1) As noted above, prior period amounts have not been adjusted under the modified retrospective method. The following table disaggregates our revenues by source (in thousands): Three Months Ended March 31, 2018 2017 (1) Software-enabled services $ 294,803 $ 276,452 Maintenance and term licenses 107,756 110,557 Perpetual licenses 4,400 2,828 Professional services 14,970 17,862 Total $ 421,929 $ 407,699 (1) As noted above, prior period amounts have not been adjusted under the modified retrospective method.
ASU 2014-09 [Member]
Impact of Adoption of ASC 606 on Company's Condensed Consolidated Statement of Comprehensive Income	The impact of adoption of ASC 606 on the Company’s Condensed Consolidated Statement of Comprehensive Income was as follows (in thousands): For the Three Months Ended March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Revenues: License, maintenance and related $ 127,126 $ 122,128 $ 4,998 Operating expenses: Selling and marketing $ 31,150 $ 31,748 $ (598 )
Impact of Adoption of ASC 606 on Company's Condensed Consolidated Balance Sheet	The impact of adoption of ASC 606 on the Company’s Condensed Consolidated Balance Sheet was as follows (in thousands): As of March 31, 2018 As Reported Balance without adoption of ASC 606 Effect of Change Assets: Accounts receivable, net $ 264,076 $ 265,272 $ (1,196 ) Contract asset (current) 11,942 - 11,942 Prepaid expenses and other current assets 35,559 31,943 3,616 Contract asset (non-current) 22,076 - 22,076 Liabilities: Deferred revenue $ 193,024 $ 230,504 $ (37,480 ) Other long-term liabilities 120,621 118,115 2,506

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Component of Debt	At March 31, 2018 and December 31, 2017, debt consisted of the following (in thousands): March 31, 2018 December 31, 2017 Senior secured credit facilities, weighted-average interest rate of 4.05% and 3.75%, respectively $ 1,430,925 $ 1,492,175 5.875% senior notes due 2023 600,000 600,000 Unamortized original issue discount and debt issuance costs (44,355 ) (46,980 ) 1,986,570 2,045,195 Less current portion of long-term debt 37,338 37,863 Long-term debt $ 1,949,232 $ 2,007,332
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of financial instruments are as follows (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 1,430,925 $ 1,436,911 $ 1,492,175 $ 1,500,761 5.875% senior notes due 2023 600,000 630,660 600,000 631,313

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
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 three months ended March 31, 2018 is as follows (in thousands): Balance at December 31, 2017 $ 3,707,823 Adjustments to prior acquisitions 208 Effect of foreign currency translation 3,150 Balance at March 31, 2018 $ 3,711,181

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 Net income $ 51,250 $ 48,147 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 206,993 203,376 Weighted average common stock equivalents — options and restricted shares 10,663 6,328 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 217,656 209,704 Earnings per share - Basic $ 0.25 $ 0.24 Earnings per share - Diluted $ 0.24 $ 0.23

Equity and Stock-based Compen22

Equity and Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
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 months ended March 31, 2018 and 2017 was as follows (in thousands): For the Three Months Ended March 31, Consolidated Statements of Comprehensive Income Classification 2018 2017 Cost of software-enabled services $ 3,544 $ 2,729 Cost of license, maintenance and other related 1,094 1,106 Total cost of revenues 4,638 3,835 Selling and marketing 2,682 2,673 Research and development 2,083 1,987 General and administrative 3,299 2,405 Total operating expenses 8,064 7,065 Total stock-based compensation expense $ 12,702 $ 10,900
Summary of Stock Option and SAR Activity	The following table summarizes stock option and SAR activity as of and for the three months ended March 31, 2018: Shares Outstanding at December 31, 2017 31,339,515 Granted 347,500 Cancelled/forfeited (218,882 ) Exercised (1,413,744 ) Outstanding at March 31, 2018 30,054,389
Summary of RSU Activity	The following table summarizes RSU activity as of and for the three months ended March 31, 2018: Shares Outstanding at December 31, 2017 183,076 Granted 24,923 Cancelled/forfeited (556 ) Vested (14,628 ) Outstanding at March 31, 2018 192,815

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2018
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 CommonWealth Fund Services Ltd. and Modestspark occurred on January 1, 2016. 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 March 31, 2017 Revenues $ 411,045 Net income $ 50,482 Basic EPS $ 0.25 Diluted EPS $ 0.24 Basic weighted average number of common shares outstanding 203,376 Diluted weighted average number of common and common equivalent shares outstanding 209,704

Supplemental Guarantor Financ24

Supplemental Guarantor Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2018
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): March 31, 2018 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 10,952 $ 63,125 $ — $ 74,077 Accounts receivable, net — 177,378 86,698 — 264,076 Contract asset — 11,156 786 — 11,942 Prepaid expenses and other current assets — 16,100 19,459 — 35,559 Restricted cash — 543 — — 543 Net property, plant and equipment — 61,058 40,936 — 101,994 Investment in subsidiaries 3,512,062 982,351 — (4,494,413 ) — Intercompany receivables — 265,532 116,137 (381,669 ) — Deferred income taxes, long-term — — 2,041 — 2,041 Long-term contract asset — 21,406 670 — 22,076 Goodwill, intangible and other assets, net — 3,836,385 1,200,891 — 5,037,276 Total assets $ 3,512,062 $ 5,382,861 $ 1,530,743 $ (4,876,082 ) $ 5,549,584 Current portion of long-term debt — 12,199 25,139 — 37,338 Accounts payable — 8,441 9,196 — 17,637 Accrued expenses 7,344 57,597 45,747 — 110,688 Income taxes payable — 13,140 3,042 — 16,182 Deferred revenue — 163,056 29,968 — 193,024 Long-term debt, net of current portion 600,000 1,154,848 194,384 — 1,949,232 Other long-term liabilities — 83,125 37,496 — 120,621 Intercompany payables 88,810 116,137 176,722 (381,669 ) — Deferred income taxes, long-term — 262,256 26,698 — 288,954 Total liabilities 696,154 1,870,799 548,392 (381,669 ) 2,733,676 Total stockholders’ equity 2,815,908 3,512,062 982,351 (4,494,413 ) 2,815,908 Total liabilities and stockholders’ equity $ 3,512,062 $ 5,382,861 $ 1,530,743 $ (4,876,082 ) $ 5,549,584 December 31, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash and cash equivalents $ — $ 21,191 $ 42,866 $ — $ 64,057 Accounts receivable, net — 173,997 69,903 — 243,900 Prepaid expenses and other current assets — 19,770 18,972 — 38,742 Prepaid income taxes — 6,366 5,800 — 12,166 Restricted cash — 592 — — 592 Net property, plant and equipment — 60,774 40,182 — 100,956 Investment in subsidiaries 3,373,730 938,794 — (4,312,524 ) — Intercompany receivables — 199,503 74,005 (273,508 ) — Deferred income taxes, long-term — — 2,324 — 2,324 Goodwill, intangible and other assets, net — 3,871,503 1,205,276 — 5,076,779 Total assets $ 3,373,730 $ 5,292,490 $ 1,459,328 $ (4,586,032 ) $ 5,539,516 Current portion of long-term debt — 12,626 25,237 — 37,863 Accounts payable — 19,223 7,864 — 27,087 Accrued expenses 16,157 96,540 55,381 — 168,078 Income taxes payable — — 6,031 — 6,031 Deferred revenue — 182,181 22,420 — 204,601 Long-term debt, net of current portion 600,000 1,197,576 209,756 — 2,007,332 Other long-term liabilities — 82,239 36,440 — 118,679 Intercompany payables 71,185 74,005 128,318 (273,508 ) — Deferred income taxes, long-term — 254,370 29,087 — 283,457 Total liabilities 687,342 1,918,760 520,534 (273,508 ) 2,853,128 Total stockholders’ equity 2,686,388 3,373,730 938,794 (4,312,524 ) 2,686,388 Total liabilities and stockholders’ equity $ 3,373,730 $ 5,292,490 $ 1,459,328 $ (4,586,032 ) $ 5,539,516 For the Three Months Ended March 31, 2018 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 287,651 $ 134,453 $ (175 ) $ 421,929 Cost of revenues — 149,678 80,077 (175 ) 229,580 Gross profit — 137,973 54,376 — 192,349 Operating expenses: Selling and marketing — 22,025 9,125 — 31,150 Research and development — 27,289 11,630 — 38,919 General and administrative — 26,690 8,743 — 35,433 Total operating expenses — 76,004 29,498 — 105,502 Operating income — 61,969 24,878 — 86,847 Interest expense, net (8,813 ) (12,267 ) (4,274 ) — (25,354 ) Other (expense) income, net — (18,846 ) 19,284 — 438 Earnings from subsidiaries 60,063 33,480 — (93,543 ) — Income before income taxes 51,250 64,336 39,888 (93,543 ) 61,931 Provision for income taxes — 4,273 6,408 — 10,681 Net income $ 51,250 $ 60,063 $ 33,480 $ (93,543 ) $ 51,250 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 5,217 5,217 7,386 (12,603 ) 5,217 Comprehensive income $ 56,467 $ 65,280 $ 40,866 $ (106,146 ) $ 56,467 For the Three Months Ended March 31, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Revenues $ — $ 286,034 $ 122,100 $ (435 ) $ 407,699 Cost of revenues — 144,757 73,137 (435 ) 217,459 Gross profit — 141,277 48,963 — 190,240 Operating expenses: Selling and marketing — 22,625 7,617 — 30,242 Research and development — 27,169 11,280 — 38,449 General and administrative — 22,608 9,224 — 31,832 Total operating expenses — 72,402 28,121 — 100,523 Operating income — 68,875 20,842 — 89,717 Interest expense, net (8,813 ) (15,004 ) (5,203 ) — (29,020 ) Other (expense) income, net — (17,731 ) 17,660 — (71 ) Loss on extinguishment of debt — (1,743 ) (583 ) — (2,326 ) Earnings from subsidiaries 56,960 28,629 — (85,589 ) — Income before income taxes 48,147 63,026 32,716 (85,589 ) 58,300 Provision for income taxes — 6,066 4,087 — 10,153 Net income $ 48,147 $ 56,960 $ 28,629 $ (85,589 ) $ 48,147 Other comprehensive income, net of tax: Foreign currency exchange translation adjustment 10,779 10,779 10,109 (20,888 ) 10,779 Comprehensive income $ 58,926 $ 67,739 $ 38,738 $ (106,477 ) $ 58,926 For the Three Months Ended March 31, 2018 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 51,250 $ 60,063 $ 33,480 $ (93,543 ) $ 51,250 Non-cash adjustments — 48,163 16,184 — 64,347 Intercompany transactions 17,626 (22,927 ) 5,301 — — Earnings from subsidiaries (60,063 ) (33,480 ) — 93,543 — Changes in operating assets and liabilities (8,813 ) (22,644 ) (14,196 ) — (45,653 ) Net cash provided by operating activities — 29,175 40,769 — 69,944 Cash Flow from Investment Activities: Additions to property and equipment — (4,173 ) (2,990 ) — (7,163 ) Cash paid for business acquisitions, net of cash acquired — — (191 ) — (191 ) Additions to capitalized software — (2,689 ) (1,256 ) — (3,945 ) Net cash used in investing activities — (6,862 ) (4,437 ) — (11,299 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (90,250 ) (16,000 ) — (106,250 ) Transactions involving Holding's common stock — 12,457 — — 12,457 Intercompany transactions — 192 (192 ) — — Net cash used in financing activities — (32,601 ) (16,192 ) — (48,793 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 119 — 119 Net increase (decrease) in cash, cash equivalents and restricted cash — (10,288 ) 20,259 — 9,971 Cash, cash equivalents and restricted cash, beginning of period — 21,783 42,866 — 64,649 Cash, cash equivalents and restricted cash, end of period $ — $ 11,495 $ 63,125 $ — $ 74,620 For the Three Months Ended March 31, 2017 Parent Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidating and Eliminating Adjustments Consolidated Cash Flow from Operating Activities: Net income $ 48,147 $ 56,960 $ 28,629 $ (85,589 ) $ 48,147 Non-cash adjustments — 51,401 16,907 — 68,308 Intercompany transactions 17,625 (12,791 ) (4,834 ) — — Earnings from subsidiaries (56,960 ) (28,629 ) — 85,589 — Changes in operating assets and liabilities (8,812 ) (36,492 ) (13,263 ) — (58,567 ) Net cash provided by operating activities — 30,449 27,439 — 57,888 Cash Flow from Investment Activities: Additions to property and equipment — (5,027 ) (963 ) — (5,990 ) Cash paid for business acquisitions, net of cash acquired — 1,802 3 — 1,805 Additions to capitalized software — (2,331 ) (946 ) — (3,277 ) Net cash used in investing activities — (5,556 ) (1,906 ) — (7,462 ) Cash Flow from Financing Activities: Cash received from debt borrowings — 45,000 — — 45,000 Repayments of debt — (77,200 ) (28,000 ) — (105,200 ) Transactions involving Holding's common stock — 713 — — 713 Fees paid for debt extinguishment — (943 ) (420 ) — (1,363 ) Intercompany transactions — 60 (60 ) — — Net cash used in financing activities — (32,370 ) (28,480 ) — (60,850 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — 1,663 — 1,663 Net decrease in cash, cash equivalents and restricted cash — (7,477 ) (1,284 ) — (8,761 ) Cash, cash equivalents and restricted cash, beginning of period — 35,511 84,163 — 119,674 Cash, cash equivalents and restricted cash, end of period $ — $ 28,034 $ 82,879 $ — $ 110,913

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Source
ASC 606 [Member]
Basis Of Presentation [Line Items]
Number of primary sources of revenues	2

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Mar. 31, 2018	Dec. 31, 2017
Deferred Revenue Arrangement [Line Items]
Retained earnings		$ 851,495	$ 766,856
Maintenance contract term		1 year
Deferred revenue presented net within contract assets arised from contract		$ 29,300
Deferred revenue recognized		76,500
Revenue expected to be recognized from remaining performance obligations		266,300
Revenue expected to be recognized from remaining performance obligations in next twelve months		$ 174,100
Software-enabled Services [Member]
Deferred Revenue Arrangement [Line Items]
Notice period for cancelling contract		90 days
Minimum [Member] | Software-enabled Services [Member]
Deferred Revenue Arrangement [Line Items]
Revenue recognition period		1 year
Maximum [Member] | Software-enabled Services [Member]
Deferred Revenue Arrangement [Line Items]
Revenue recognition period		5 years
Effect of Change [Member] | ASU 2014-09 [Member]
Deferred Revenue Arrangement [Line Items]
Retained earnings	$ 65,800
Cumulative impact on retained earnings, net of tax	$ 47,900
Decrease in revenue		$ (11,800)

Revenues - Impact of Adoption o

Revenues - Impact of Adoption of ASC 606 on Company's Condensed Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
License, maintenance and related	$ 127,126	$ 131,247
Operating expenses:
Selling and marketing	31,150	$ 30,242
Balance Without Adoption of ASC 606 [Member] | ASU 2014-09 [Member]
Revenues:
License, maintenance and related	122,128
Operating expenses:
Selling and marketing	31,748
Effect of Change [Member] | ASU 2014-09 [Member]
Revenues:
License, maintenance and related	4,998
Operating expenses:
Selling and marketing	$ (598)

Revenues - Impact of Adoption28

Revenues - Impact of Adoption of ASC 606 on Company's Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Accounts receivable, net of allowance for doubtful accounts of $7,390 and $6,739, respectively	$ 264,076	$ 243,900
Contract asset (current)	11,942
Prepaid expenses and other current assets	35,559	38,742
Contract asset (non-current)	22,076
Liabilities:
Deferred revenue	193,024	204,601
Other long-term liabilities	120,621	$ 118,679
ASU 2014-09 [Member] | Balance Without Adoption of ASC 606 [Member]
ASSETS
Accounts receivable, net of allowance for doubtful accounts of $7,390 and $6,739, respectively	265,272
Prepaid expenses and other current assets	31,943
Liabilities:
Deferred revenue	230,504
Other long-term liabilities	118,115
ASU 2014-09 [Member] | Effect of Change [Member]
ASSETS
Accounts receivable, net of allowance for doubtful accounts of $7,390 and $6,739, respectively	(1,196)
Contract asset (current)	11,942
Prepaid expenses and other current assets	3,616
Contract asset (non-current)	22,076
Liabilities:
Deferred revenue	(37,480)
Other long-term liabilities	$ 2,506

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenues by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 421,929	$ 407,699
United States [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	302,703	296,836
United Kingdom [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	32,011	27,543
Asia-Pacific and Japan [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	28,988	26,449
Europe, excluding United Kingdom [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	27,808	24,876
Canada [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	18,318	20,628
Americas, excluding United States and Canada [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 12,101	$ 11,367

Revenues - Disaggregation of 30

Revenues - Disaggregation of Revenues by Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 421,929	$ 407,699
Software-enabled Services [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	294,803	276,452
Maintenance and Term Licenses [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	107,756	110,557
Perpetual Licenses [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	4,400	2,828
Professional Services [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 14,970	$ 17,862

Debt - Component of Debt (Detai

Debt - Component of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized original issue discount and debt issuance costs	$ (44,355)	$ (46,980)
Debt	1,986,570	2,045,195
Less current portion of long-term debt	37,338	37,863
Long-term debt	1,949,232	2,007,332
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term debt gross	1,430,925	1,492,175
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	Mar. 31, 2018	Dec. 31, 2017
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Debt, weighted-average interest rate of credit facility		4.05%	3.75%
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 - Schedule of Carrying Amo

Debt - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Senior Secured Credit Facilities [Member] | Carrying Amount [Member]
Financial liabilities:
Credit facility	$ 1,430,925	$ 1,492,175
Senior Secured Credit Facilities [Member] | Fair Value [Member]
Financial liabilities:
Credit facility	1,436,911	1,500,761
5.875% Senior Notes due 2023 [Member] | Carrying Amount [Member]
Financial liabilities:
Senior notes	600,000	600,000
5.875% Senior Notes due 2023 [Member] | Fair Value [Member]
Financial liabilities:
Credit facility	$ 630,660	$ 631,313

Goodwill - Summary of Change in

Goodwill - Summary of Change in Carrying Value of Goodwill (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 3,707,823
Adjustments to prior acquisitions	208
Effect of foreign currency translation	3,150
Ending balance	$ 3,711,181

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
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income	$ 51,250	$ 48,147
Shares:
Weighted average common shares outstanding — used in calculation of basic EPS	206,993	203,376
Weighted average common stock equivalents — options and restricted shares	10,663	6,328
Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS	217,656	209,704
Earnings per share - Basic	$ 0.25	$ 0.24
Earnings per share - Diluted	$ 0.24	$ 0.23

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Line Items]
Dividends paid on common stock	$ 14,504	$ 12,715
First Quarter Dividend [Member]
Earnings Per Share [Line Items]
Dividend record date	Mar. 1, 2018	Mar. 1, 2017
Dividend paid date	Mar. 15, 2018	Mar. 15, 2017
Quarterly cash dividend paid	$ 0.07	$ 0.0625
Stock Options [Member]
Earnings Per Share [Line Items]
Options to purchase shares outstanding	182,333	14,455,614

Equity and Stock-based Compen37

Equity and Stock-based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 12,702	$ 10,900
Cost of Software-Enabled Services [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,544	2,729
Cost of License, Maintenance and Other Related [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,094	1,106
Total Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	4,638	3,835
Selling and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,682	2,673
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,083	1,987
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3,299	2,405
Total Operating Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 8,064	$ 7,065

Equity and Stock-based Compen38

Equity and Stock-based Compensation - Summary of Stock Option and SAR Activity (Detail)	3 Months Ended
	Mar. 31, 2018shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Opening	31,339,515
Granted	347,500
Cancelled/forfeited	(218,882)
Exercised	(1,413,744)
Number of Shares, Outstanding Closing	30,054,389

Equity and Stock-based Compen39

Equity and Stock-based Compensation - Summary of RSU Activity (Detail)	3 Months Ended
	Mar. 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Opening	1,126
Number of Shares, Outstanding Closing	938
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Opening	183,076
Granted	24,923
Cancelled/forfeited	(556)
Vested	(14,628)
Number of Shares, Outstanding Closing	192,815

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective tax rate	17.20%	17.40%
Domestic statutory tax rate	21.00%		35.00%

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Information (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Business Combinations [Abstract]
Revenues | $	$ 411,045
Net income | $	$ 50,482
Basic EPS | $ / shares	$ 0.25
Diluted EPS | $ / shares	$ 0.24
Basic weighted average number of common shares outstanding | shares	203,376
Diluted weighted average number of common and common equivalent shares outstanding | shares	209,704

Supplemental Guarantor Financ42

Supplemental Guarantor Financial Statements - Additional Information (Detail) - USD ($)	Jul. 08, 2015	Mar. 31, 2018	Dec. 31, 2017
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 Financ43

Supplemental Guarantor Financial Statements - Condensed Consolidating Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	$ 74,077		$ 64,057
Accounts receivable, net	264,076		243,900
Contract asset	11,942
Prepaid expenses and other current assets	35,559		38,742
Prepaid income taxes			12,166
Restricted cash	543		592
Net property, plant and equipment	101,994		100,956
Deferred income taxes, long-term	2,041		2,324
Long-term contract asset	22,076
Goodwill, intangible and other assets, net	5,037,276		5,076,779
Total assets	5,549,584		5,539,516
Current portion of long-term debt	37,338		37,863
Accounts payable	17,637		27,087
Accrued expenses	110,688		168,078
Income taxes payable	16,182		6,031
Deferred revenue	193,024		204,601
Long-term debt, net of current portion	1,949,232		2,007,332
Other long-term liabilities	120,621		118,679
Deferred income taxes, long-term	288,954		283,457
Total liabilities	2,733,676		2,853,128
Total stockholders’ equity	2,815,908		2,686,388
Total liabilities and stockholders’ equity	5,549,584		5,539,516
Revenues	421,929	$ 407,699
Cost of revenues	229,580	217,459
Gross profit	192,349	190,240
Operating expenses:
Selling and marketing	31,150	30,242
Research and development	38,919	38,449
General and administrative	35,433	31,832
Total operating expenses	105,502	100,523
Operating income	86,847	89,717
Interest expense, net	(25,354)	(29,020)
Other (expense) income, net	438	(71)
Loss on extinguishment of debt		(2,326)
Income before income taxes	61,931	58,300
Provision for income taxes	10,681	10,153
Net income	51,250	48,147
Other comprehensive income, net of tax:
Foreign currency exchange translation adjustment	5,217	10,779
Comprehensive income	56,467	58,926
Cash Flow from Operating Activities:
Net income	51,250	48,147
Non-cash adjustments	64,347	68,308
Changes in operating assets and liabilities	(45,653)	(58,567)
Net cash provided by operating activities	69,944	57,888
Cash Flow from Investment Activities:
Additions to property and equipment	(7,163)	(5,990)
Cash paid for business acquisitions, net of cash acquired	(191)	1,805
Additions to capitalized software	(3,945)	(3,277)
Net cash used in investing activities	(11,299)	(7,462)
Cash Flow from Financing Activities:
Cash received from debt borrowings	45,000	45,000
Repayments of debt	(106,250)	(105,200)
Transactions involving Holding's common stock	12,457	713
Fees paid for debt extinguishment		(1,363)
Net cash used in financing activities	(48,793)	(60,850)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	119	1,663
Net increase (decrease) in cash, cash equivalents and restricted cash	9,971	(8,761)
Cash, cash equivalents and restricted cash, beginning of period	64,649	119,674
Cash, cash equivalents and restricted cash, end of period	74,620	110,913
Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Investment in subsidiaries	3,512,062		3,373,730
Total assets	3,512,062		3,373,730
Accrued expenses	7,344		16,157
Long-term debt, net of current portion	600,000		600,000
Intercompany payables	88,810		71,185
Total liabilities	696,154		687,342
Total stockholders’ equity	2,815,908		2,686,388
Total liabilities and stockholders’ equity	3,512,062		3,373,730
Operating expenses:
Interest expense, net	(8,813)	(8,813)
Earnings from subsidiaries	60,063	56,960
Income before income taxes	51,250	48,147
Net income	51,250	48,147
Other comprehensive income, net of tax:
Foreign currency exchange translation adjustment	5,217	10,779
Comprehensive income	56,467	58,926
Cash Flow from Operating Activities:
Net income	51,250	48,147
Intercompany transactions	17,626	17,625
Earnings from subsidiaries	(60,063)	(56,960)
Changes in operating assets and liabilities	(8,813)	(8,812)
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	10,952		21,191
Accounts receivable, net	177,378		173,997
Contract asset	11,156
Prepaid expenses and other current assets	16,100		19,770
Prepaid income taxes			6,366
Restricted cash	543		592
Net property, plant and equipment	61,058		60,774
Investment in subsidiaries	982,351		938,794
Intercompany receivables	265,532		199,503
Long-term contract asset	21,406
Goodwill, intangible and other assets, net	3,836,385		3,871,503
Total assets	5,382,861		5,292,490
Current portion of long-term debt	12,199		12,626
Accounts payable	8,441		19,223
Accrued expenses	57,597		96,540
Income taxes payable	13,140
Deferred revenue	163,056		182,181
Long-term debt, net of current portion	1,154,848		1,197,576
Other long-term liabilities	83,125		82,239
Intercompany payables	116,137		74,005
Deferred income taxes, long-term	262,256		254,370
Total liabilities	1,870,799		1,918,760
Total stockholders’ equity	3,512,062		3,373,730
Total liabilities and stockholders’ equity	5,382,861		5,292,490
Revenues	287,651	286,034
Cost of revenues	149,678	144,757
Gross profit	137,973	141,277
Operating expenses:
Selling and marketing	22,025	22,625
Research and development	27,289	27,169
General and administrative	26,690	22,608
Total operating expenses	76,004	72,402
Operating income	61,969	68,875
Interest expense, net	(12,267)	(15,004)
Other (expense) income, net	(18,846)	(17,731)
Loss on extinguishment of debt		(1,743)
Earnings from subsidiaries	33,480	28,629
Income before income taxes	64,336	63,026
Provision for income taxes	4,273	6,066
Net income	60,063	56,960
Other comprehensive income, net of tax:
Foreign currency exchange translation adjustment	5,217	10,779
Comprehensive income	65,280	67,739
Cash Flow from Operating Activities:
Net income	60,063	56,960
Non-cash adjustments	48,163	51,401
Intercompany transactions	(22,927)	(12,791)
Earnings from subsidiaries	(33,480)	(28,629)
Changes in operating assets and liabilities	(22,644)	(36,492)
Net cash provided by operating activities	29,175	30,449
Cash Flow from Investment Activities:
Additions to property and equipment	(4,173)	(5,027)
Cash paid for business acquisitions, net of cash acquired		1,802
Additions to capitalized software	(2,689)	(2,331)
Net cash used in investing activities	(6,862)	(5,556)
Cash Flow from Financing Activities:
Cash received from debt borrowings	45,000	45,000
Repayments of debt	(90,250)	(77,200)
Transactions involving Holding's common stock	12,457	713
Fees paid for debt extinguishment		(943)
Intercompany transactions	192	60
Net cash used in financing activities	(32,601)	(32,370)
Net increase (decrease) in cash, cash equivalents and restricted cash	(10,288)	(7,477)
Cash, cash equivalents and restricted cash, beginning of period	21,783	35,511
Cash, cash equivalents and restricted cash, end of period	11,495	28,034
Non-guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Cash and cash equivalents	63,125		42,866
Accounts receivable, net	86,698		69,903
Contract asset	786
Prepaid expenses and other current assets	19,459		18,972
Prepaid income taxes			5,800
Net property, plant and equipment	40,936		40,182
Intercompany receivables	116,137		74,005
Deferred income taxes, long-term	2,041		2,324
Long-term contract asset	670
Goodwill, intangible and other assets, net	1,200,891		1,205,276
Total assets	1,530,743		1,459,328
Current portion of long-term debt	25,139		25,237
Accounts payable	9,196		7,864
Accrued expenses	45,747		55,381
Income taxes payable	3,042		6,031
Deferred revenue	29,968		22,420
Long-term debt, net of current portion	194,384		209,756
Other long-term liabilities	37,496		36,440
Intercompany payables	176,722		128,318
Deferred income taxes, long-term	26,698		29,087
Total liabilities	548,392		520,534
Total stockholders’ equity	982,351		938,794
Total liabilities and stockholders’ equity	1,530,743		1,459,328
Revenues	134,453	122,100
Cost of revenues	80,077	73,137
Gross profit	54,376	48,963
Operating expenses:
Selling and marketing	9,125	7,617
Research and development	11,630	11,280
General and administrative	8,743	9,224
Total operating expenses	29,498	28,121
Operating income	24,878	20,842
Interest expense, net	(4,274)	(5,203)
Other (expense) income, net	19,284	17,660
Loss on extinguishment of debt		(583)
Income before income taxes	39,888	32,716
Provision for income taxes	6,408	4,087
Net income	33,480	28,629
Other comprehensive income, net of tax:
Foreign currency exchange translation adjustment	7,386	10,109
Comprehensive income	40,866	38,738
Cash Flow from Operating Activities:
Net income	33,480	28,629
Non-cash adjustments	16,184	16,907
Intercompany transactions	5,301	(4,834)
Changes in operating assets and liabilities	(14,196)	(13,263)
Net cash provided by operating activities	40,769	27,439
Cash Flow from Investment Activities:
Additions to property and equipment	(2,990)	(963)
Cash paid for business acquisitions, net of cash acquired	(191)	3
Additions to capitalized software	(1,256)	(946)
Net cash used in investing activities	(4,437)	(1,906)
Cash Flow from Financing Activities:
Repayments of debt	(16,000)	(28,000)
Fees paid for debt extinguishment		(420)
Intercompany transactions	(192)	(60)
Net cash used in financing activities	(16,192)	(28,480)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	119	1,663
Net increase (decrease) in cash, cash equivalents and restricted cash	20,259	(1,284)
Cash, cash equivalents and restricted cash, beginning of period	42,866	84,163
Cash, cash equivalents and restricted cash, end of period	63,125	82,879
Consolidation, Eliminations [Member]
Condensed Financial Statements Captions [Line Items]
Investment in subsidiaries	(4,494,413)		(4,312,524)
Intercompany receivables	(381,669)		(273,508)
Total assets	(4,876,082)		(4,586,032)
Intercompany payables	(381,669)		(273,508)
Total liabilities	(381,669)		(273,508)
Total stockholders’ equity	(4,494,413)		(4,312,524)
Total liabilities and stockholders’ equity	(4,876,082)		$ (4,586,032)
Revenues	(175)	(435)
Cost of revenues	(175)	(435)
Operating expenses:
Earnings from subsidiaries	(93,543)	(85,589)
Income before income taxes	(93,543)	(85,589)
Net income	(93,543)	(85,589)
Other comprehensive income, net of tax:
Foreign currency exchange translation adjustment	(12,603)	(20,888)
Comprehensive income	(106,146)	(106,477)
Cash Flow from Operating Activities:
Net income	(93,543)	(85,589)
Earnings from subsidiaries	$ 93,543	$ 85,589

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions	Apr. 16, 2018	Apr. 30, 2018
Subsequent Event [Line Items]
Common stock shares issued		30,262,250
Common stock offering price to public		$ 47.50
Proceeds from common stock issuance, net		$ 1,400
DST [Member]
Subsequent Event [Line Items]
Business acquisition, effective date of acquisition	Apr. 16, 2018
Purchase of outstanding stock of DST Systems, Inc. in cash, including assumption of debt, plus costs, fees and expenses	$ 5,000
Senior Secured Credit Facilities [Member] | DST [Member]
Subsequent Event [Line Items]
Amount borrowed in connection with acquisition	7,400
Amount rolled over from existing credit facility	524.5
Senior Secured Credit Facilities Revolving Portion [Member] | DST [Member]
Subsequent Event [Line Items]
Undrawn revolver	$ 250