SS&C Technologies (SSNC) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	SS&C TECHNOLOGIES HOLDINGS, INC.
Entity Central Index Key	0001402436
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		257,579,753
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-34675
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0987913
Entity Address, Address Line One	80 Lamberton Road
Entity Address, City or Town	Windsor
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06095
City Area Code	860
Local Phone Number	298-4500
Document Quarterly Report	true
Document Transition Report	false
Security12b Title	Common stock, par value $0.01 per share
Trading Symbol	SSNC
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 261.9	$ 152.8
Funds receivable and funds held on behalf of clients	786.5	1,729.9
Accounts receivable, net of allowance for doubtful accounts of $16.4 and $13.2, respectively	676.1	669.7
Contract asset	24.3	20
Prepaid expenses and other current assets	186.6	204.5
Restricted cash and cash equivalents	8.4	9
Total current assets	1,943.8	2,785.9
Property, plant and equipment, net (Note 2)	423.8	466.4
Operating lease right-of-use assets	357.3	375.3
Investments (Note 3)	166.3	160.1
Unconsolidated affiliates (Note 4)	222.7	234.8
Contract asset	78.9	78.6
Goodwill (Note 6)	7,939.7	7,959.9
Intangible and other assets, net of accumulated amortization of $2,315.6 and $2,022.0, respectively	4,440.4	4,680.1
Total assets	15,572.9	16,741.1
Current liabilities:
Current portion of long-term debt (Note 7)	71.8	76.3
Client funds obligations	786.5	1,729.9
Accounts payable	42	36.9
Income taxes payable	70.5	13.3
Accrued employee compensation and benefits	189.9	290.6
Interest payable	27.6	27.6
Other accrued expenses	285.8	268.4
Deferred revenues	325.9	333.2
Total current liabilities	1,800	2,776.2
Long-term debt, net of current portion (Note 7)	6,830.7	7,077.8
Operating lease liabilities	332.6	348.6
Other long-term liabilities	307	333.7
Deferred income taxes	988.8	1,088.7
Total liabilities	10,259.1	11,625
Commitments and contingencies (Note 13)
Stockholders’ equity (Note 8):
Preferred stock, $0.01 par value per share, 5.0 million shares authorized; no shares issued
Common stock	2.6	2.6
Additional paid-in capital	4,397.4	4,266.9
Accumulated other comprehensive loss	(372.3)	(253)
Retained earnings	1,382.4	1,177.9
Stockholders' equity before treasury stock	5,410.1	5,194.4
Less: cost of common stock in treasury, 3.0 and 2.9 million shares, respectively	(96.3)	(78.3)
Total stockholders’ equity	5,313.8	5,116.1
Total liabilities and stockholders’ equity	15,572.9	16,741.1
Class A Non-Voting Common Stock [Member]
Stockholders’ equity (Note 8):
Common stock

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Allowance for doubtful accounts receivable	$ 16.4	$ 13.2
Accumulated amortization of finite-lived intangible assets	$ 2,315.6	$ 2,022
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	260,700,000	257,600,000
Common stock, shares outstanding	257,700,000	254,600,000
Treasury stock, shares	3,000,000	2,900,000
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 Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenues	$ 1,138.1	$ 1,148	$ 2,311.7	$ 2,285.2
Cost of revenues:
Total cost of revenues	626.8	649.1	1,292.4	1,311
Gross profit	511.3	498.9	1,019.3	974.2
Operating expenses:
Selling and marketing	84.3	86.3	175.7	173.3
Research and development	96.8	93.6	201.7	188.4
General and administrative	88.9	95.5	181.8	187
Total operating expenses	270	275.4	559.2	548.7
Operating income	241.3	223.5	460.1	425.5
Interest expense, net	(60.5)	(104.3)	(137.9)	(205.9)
Other income, net	19	33.9	3.7	37.4
Equity in earnings of unconsolidated affiliates, net	(1)	2.2	(0.3)	2.2
Gain (loss) on extinguishment of debt	0.2		(2.6)	(7.1)
Income before income taxes	199	155.3	323	252.1
Provision for income taxes	29.5	34.2	54.3	50.2
Net income	$ 169.5	$ 121.1	$ 268.7	$ 201.9
Basic earnings per share	$ 0.66	$ 0.48	$ 1.05	$ 0.80
Diluted earnings per share	$ 0.64	$ 0.45	$ 1.01	$ 0.76
Basic weighted average number of common shares outstanding	257	253.3	256.1	252.4
Diluted weighted average number of common and common equivalent shares outstanding	265.8	266.2	265.7	265
Net income	$ 169.5	$ 121.1	$ 268.7	$ 201.9
Other comprehensive income (loss), net of tax:
Change in unrealized loss on interest rate swaps	(0.3)	(2.8)	(2.7)	(2.8)
Foreign currency exchange translation adjustment	34.1	(11)	(116.6)	30.8
Total other comprehensive income (loss), net of tax	33.8	(13.8)	(119.3)	28
Comprehensive income	203.3	107.3	149.4	229.9
Software-enabled Services [Member]
Revenues:
Total revenues	945	962.7	1,934.5	1,934.7
Cost of revenues:
Total cost of revenues	549.9	573.1	1,133.4	1,160
License, Maintenance and Related [Member]
Revenues:
Total revenues	193.1	185.3	377.2	350.5
Cost of revenues:
Total cost of revenues	$ 76.9	$ 76	$ 159	$ 151

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flow from operating activities:
Net income	$ 268.7	$ 201.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	364.1	392.7
Equity in earnings of unconsolidated affiliates, net	0.3	(2.2)
Cash distributions received from unconsolidated affiliates	8
Stock-based compensation expense	44.6	38.6
Net gains on investments	(5.5)	(37)
Amortization and write-offs of loan origination costs and original issue discounts	6.9	8.8
Loss on extinguishment of debt	0.9
Loss on sale or disposition of property and equipment	4	2.8
Deferred income taxes	(84.1)	(64.7)
Provision for doubtful accounts	4.8	2.2
Changes in operating assets and liabilities, excluding effects from acquisitions:
Accounts receivable	(11.9)	14.5
Prepaid expenses and other assets	(16.5)	27.5
Contract assets	(3.7)	(19.1)
Accounts payable	4	7
Accrued expenses and other liabilities	(91.8)	(140.3)
Income taxes prepaid and payable	101.6	(13.7)
Deferred revenue	(38.7)	(2.4)
Net cash provided by operating activities	555.7	416.6
Cash flow from investing activities:
Cash paid for business acquisitions, net of cash acquired	(114.1)	3.2
Additions to property and equipment	(16)	(27)
Additions to capitalized software	(35.9)	(32.5)
Investments in securities	(40.8)	(0.2)
Proceeds from sales / maturities of investments	33.7	22.5
Distributions received from unconsolidated affiliates		2.1
Collection of other non-current receivables	5	5.2
Net cash used in investing activities	(168.1)	(26.7)
Cash flow from financing activities:
Cash received from debt borrowings	246	2,140
Repayments of debt	(503.3)	(2,554.9)
Fees paid for debt extinguishment and refinancing activities		(5.8)
Net decrease in client funds obligations	(947.4)	(6.1)
Proceeds from exercise of stock options	82.8	66.4
Withholding taxes paid related to equity award net share settlement	(7.3)	(18.8)
Purchases of common stock for treasury	(27.9)
Dividends paid on common stock	(64)	(50.6)
Net cash used in financing activities	(1,221.1)	(429.8)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5.4)	0.4
Net decrease in cash, cash equivalents and restricted cash	(838.9)	(39.5)
Cash, cash equivalents and restricted cash, beginning of period	1,789.4	1,113.3
Cash, cash equivalents and restricted cash and cash equivalents, end of period	950.5	1,073.8
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents:
Cash and cash equivalents	261.9	131.3
Restricted cash and cash equivalents	8.4	6.1
Restricted cash and cash equivalents included in funds receivable and funds held on behalf of clients	680.2	936.4
Cash and cash equivalents and restricted cash	$ 950.5	$ 1,073.8

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]
Beginning balance at Dec. 31, 2018	$ 4,580	$ 2.5	$ 4,091.4	$ 847.1	$ (343)	$ (18)
Beginning balance, shares at Dec. 31, 2018		252.4
Net income	201.9			201.9
Foreign exchange translation adjustment	30.8				30.8
Net change in interest rate swaps	(2.8)				(2.8)
Stock-based compensation expense	38.6		38.6
Exercise of options, net of withholding taxes	47.6		47.6
Exercise of options, net of withholding taxes, shares		2.9
Cash dividends declared	(50.6)			(50.6)
Ending balance at Jun. 30, 2019	4,845.5	$ 2.5	4,177.6	998.4	(315)	(18)
Ending balance, shares at Jun. 30, 2019		255.3
Beginning balance at Mar. 31, 2019	4,733.5	$ 2.5	4,147.4	902.8	(301.2)	(18)
Beginning balance, shares at Mar. 31, 2019		254.4
Net income	121.1			121.1
Foreign exchange translation adjustment	(11)				(11)
Net change in interest rate swaps	(2.8)				(2.8)
Stock-based compensation expense	18.2		18.2
Exercise of options, net of withholding taxes	12		12
Exercise of options, net of withholding taxes, shares		0.9
Cash dividends declared	(25.4)			(25.4)
Other	(0.1)			(0.1)
Ending balance at Jun. 30, 2019	4,845.5	$ 2.5	4,177.6	998.4	(315)	(18)
Ending balance, shares at Jun. 30, 2019		255.3
Beginning balance at Dec. 31, 2019	$ 5,116.1	$ 2.6	4,266.9	1,177.9	(253)	(78.3)
Beginning balance, shares at Dec. 31, 2019	257.6	257.6
Net income	$ 268.7			268.7
Foreign exchange translation adjustment	(116.6)				(116.6)
Net change in interest rate swaps	(2.7)				(2.7)
Stock-based compensation expense	44.6		44.6
Exercise of options, net of withholding taxes	75.5		75.5
Exercise of options, net of withholding taxes, shares		3.1
Non-cash purchase price consideration	20.1		10.2			9.9
Purchases of common stock	(27.9)					(27.9)
Cash dividends declared	(64)		0.2	(64.2)
Ending balance at Jun. 30, 2020	$ 5,313.8	$ 2.6	4,397.4	1,382.4	(372.3)	(96.3)
Ending balance, shares at Jun. 30, 2020	260.7	260.7
Beginning balance at Mar. 31, 2020	$ 5,087.6	$ 2.6	4,324.3	1,245.1	(406.1)	(78.3)
Beginning balance, shares at Mar. 31, 2020		259
Net income	169.5			169.5
Foreign exchange translation adjustment	34.1				34.1
Net change in interest rate swaps	(0.3)				(0.3)
Stock-based compensation expense	22.1		22.1
Exercise of options, net of withholding taxes	40.7		40.7
Exercise of options, net of withholding taxes, shares		1.7
Non-cash purchase price consideration	20.1		10.2			9.9
Purchases of common stock	(27.9)					(27.9)
Cash dividends declared	(32.1)		0.1	(32.2)
Ending balance at Jun. 30, 2020	$ 5,313.8	$ 2.6	$ 4,397.4	$ 1,382.4	$ (372.3)	$ (96.3)
Ending balance, shares at Jun. 30, 2020	260.7	260.7

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Stockholders Equity [Abstract]
Cash dividends declared per share	$ 0.125	$ 0.10	$ 0.25	$ 0.20

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
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 our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2020 (the “2019 Form 10-K”). The inputs into our judgments and estimates consider the economic implications of COVID-19 on our critical and significant accounting estimates. In the opinion of management, 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 our financial position as of June 30, 2020, the results of our operations for the three and six months ended June 30, 2020 and 2019, and our cash flows for the six months ended June 30, 2020 and 2019. 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, 2019, which were included in the 2019 Form 10-K. The December 31, 2019 Consolidated Balance Sheet data were derived from audited financial statements but do not include all disclosures required by GAAP for annual financial statements. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the expected results for any subsequent quarters or the full year. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments Recent Accounting Pronouncements Not Yet Effective In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740)

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended
	Jun. 30, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment, Net	Note 2—Property, Plant and Equipment, net Property, plant and equipment and the related accumulated depreciation are as follows (in millions): June 30, December 31, 2020 2019 Land $ 46.5 $ 47.5 Building and improvements 297.9 302.2 Equipment, furniture, and fixtures 433.9 427.1 778.3 776.8 Less: accumulated depreciation and amortization (354.5 ) (310.4 ) Total property, plant and equipment, net $ 423.8 $ 466.4 Depreciation expense for the three and six months ended June 30, 2020 was $27.1 million and $54.1 million, respectively. Depreciation expense for the three and six months ended June 30, 2019 was $31.1 million and $63.1 million, respectively.

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Investments	Note 3—Investments Investments are as follows (in millions): June 30, December 31, 2020 2019 Partnership interests in private equity funds $ 53.1 $ 76.7 Marketable equity securities 28.7 37.9 Non-marketable equity securities 84.5 45.5 Total investments $ 166.3 $ 160.1 Realized and unrealized gains and losses for our equity securities are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Unrealized gains (losses) on equity securities held as of the end of the period $ 10.4 $ 30.1 $ (0.8 ) $ 37.5 Realized gains (losses) for equity securities sold during the period 6.1 (0.4 ) 7.8 (0.9 ) Total gains recognized in other income, net $ 16.5 $ 29.7 $ 7.0 $ 36.6 Fair Value Measurement Authoritative accounting guidance on fair value measurements establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. As of June 30, 2020 and December 31, 2019, we held certain investment assets and certain liabilities that are required to be measured at fair value on a recurring basis. These investments include money market funds and marketable equity securities where fair value is determined using quoted prices in active markets. Accordingly, the fair value measurements of these investments have been classified as Level 1 in the tables below. Investments for which we elected net asset value as a practical expedient for fair value and investments measured using the fair value measurement alternative are excluded from the tables below. Fair value for deferred compensation liabilities that are credited with deemed gains or losses of the underlying hypothetical investments, primarily equity securities, have been classified as Level 1 in the tables below. The following tables present assets and liabilities measured at fair value on a recurring basis (in millions): Fair Value Measurements at Reporting Date Using June 30, 2020 Quoted prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 468.1 $ 468.1 $ — $ — Marketable equity securities (2) 28.7 28.7 — — Deferred compensation liabilities (3) (15.1 ) (15.1 ) — — Total $ 481.7 $ 481.7 $ — $ — _____________________________________________________ (1) Included in Cash and cash equivalents and Funds receivable and funds held on behalf of clients on the Condensed Consolidated Balance Sheet. (2) Included in Investments on the Condensed Consolidated Balance Sheet. (3) Included in Other long-term liabilities on the Condensed Consolidated Balance Sheet. Fair Value Measurements at Reporting Date Using December 31, 2019 Quoted prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 1,051.1 $ 1,051.1 $ — $ — Marketable equity securities (2) 37.9 37.9 — — Deferred compensation liabilities (3) (20.8 ) (20.8 ) — — Total $ 1,068.2 $ 1,068.2 $ — $ — _____________________________________________________ (1) Included in Cash and cash equivalents and Funds receivable and funds held on behalf of clients on the Condensed Consolidated Balance Sheet. (2) Included in Investments on the Condensed Consolidated Balance Sheet. (3) Included in Other long-term liabilities on the Condensed Consolidated Balance Sheet. During the six months ended June 30, 2020, the fair value of our non-marketable equity securities was adjusted downward by $1.0 million. During the six months ended June 30, 2019, the fair value of our non-marketable equity securities was adjusted upward by $0.5 million. We have partnership interests in various private equity funds that are not included in the tables above. Our investments in private equity funds were $53.1 million and $76.7 million at June 30, 2020 and December 31, 2019, respectively, of which $49.0 million and $72.1 million, respectively, were measured using net asset value as a practical expedient for fair value and $4.1 million and $4.6 million, respectively, were accounted for under the equity method of accounting. The investments in private equity funds represent underlying investments in domestic and international markets across various industry sectors. At June 30, 2020 and December 31, 2019, one of our investments in private equity funds, representing 71% and 75%, respectively, of the total value of the private equity fund investments, was primarily invested in the energy sector and real estate. We have no management rights associated with our partnership interests in this fund and withdrawals from this fund are subject to general partner consent. This fund has a termination date in 2020 with an optional one-year Generally, our investments in private equity funds are non-transferable or are subject to long holding periods, and withdrawals from the private equity firm partnerships are typically not permitted. Even when transfer restrictions do not apply, there is generally no public market for the securities. Therefore, we may not be able to sell the securities at a time when we desire to do so. We may not always be able to sell those investments at the same or higher prices than we paid for them. As of June 30, 2020, we did not have plans to sell any of these investments. The maximum risk of loss related to our private equity fund investments is limited to the carrying value of its investments in the entities plus any future capital commitments, which include future commitments that we believe are unlikely to be called by the general partner .

Unconsolidated Affiliates

Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Unconsolidated Affiliates	Note 4—Unconsolidated Affiliates Investments in unconsolidated affiliates are as follows (in millions): Carrying Value Excess carrying value of investment over proportionate share of net assets Ownership Percentage June 30, 2020 June 30, 2020 International Financial Data Services L.P. 50% $ 92.1 $ 43.2 Pershing Road Development Company, LLC 50% 72.6 73.9 Broadway Square Partners, LLP 50% 51.6 29.8 Other unconsolidated affiliates 6.4 — Total $ 222.7 $ 146.9 Investments in unconsolidated affiliates are accounted for under the equity method of accounting. We record our proportionate share of the results of the unconsolidated affiliates and amortization expense related to basis differences in Equity in earnings of unconsolidated affiliates, net on the Condensed Consolidated Statement of Comprehensive Income. One of the unconsolidated affiliates is a party to an interest rate swap agreement. We record our proportionate share of the change in value of the interest rate swap agreement in A ccumulated other comprehensive loss . Amounts reclassified from A ccumulated other comprehensive loss to N et income are recorded in E quity in earnings of unconsolidated affiliates, net on the Condensed Consolidated Statement of Comprehensive Income. Equity in earnings of unconsolidated affiliates, net are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 International Financial Data Services L.P. $ 1.0 $ 0.9 $ 1.7 $ 1.6 Pershing Road Development Company, LLC 0.4 0.1 1.2 0.6 Broadway Square Partners, LLP 0.4 0.3 0.6 0.5 Other unconsolidated affiliates (2.8 ) 0.9 (3.8 ) (0.5 ) Total $ (1.0 ) $ 2.2 $ (0.3 ) $ 2.2

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	Note 5—Acquisitions Innovest Systems On May 15, 2020, we purchased all of the outstanding stock of Innovest Systems, Inc. (“Innovest”) for approximately $99.4 million in cash, net of cash acquired, and 0.4 million shares of our common stock, plus the costs of effecting the transaction and the assumption of certain liabilities. Innovest provides web-based technology systems for trust accounting and unique asset servicing. Innovest's product InnoTrust offers solutions to support the accounting and reporting needs of trust companies, banks, private banks, retirement plan administrators and others. The net assets and results of operations of Innovest have been included in our Condensed Consolidated Financial Statements from May 15, 2020. The fair value of intangible assets, consisting of customer relationships, completed technology and trade names, was determined using the income approach. Specifically, the relief-from-royalty method was utilized for the completed technology and trade names and the excess earnings method was utilized for the customer relationships. The intangible assets are amortized each year based on the ratio that the projected cash flows for the intangible assets bear to the total of current and expected future cash flows for the intangible assets. The customer relationships, completed technology and trade names are expected to be amortized over approximately 14, 13 and seven years, respectively, in each case the estimated lives of the assets. The remainder of the purchase price was allocated to goodwill and is primarily tax deductible. There are $5.5 million in revenues from Innovest’s operations included in the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020. Captricity On March 24, 2020, we purchased all of the outstanding stock of Captricity, Inc. (“Captricity”) for approximately $15.3 million in cash, net of cash acquired, plus the costs of effecting the transaction and the assumption of certain liabilities. Captricity’s data transformation platform, Vidado, provides an enterprise-grade cloud-based machine learning solution that enables fast, scalable and highly accurate extraction of handwritten and machine-printed data from paper documents. The net assets and results of operations of Captricity have been included in our Condensed Consolidated Financial Statements from March 24, 2020. The fair value of intangible assets, consisting of customer relationships and completed technology, was determined using the income approach. Specifically, the relief-from-royalty method was utilized for the completed technology and the excess earnings method was utilized for the customer relationships. The intangible assets are amortized each year based on the ratio that the projected cash flows for the intangible assets bear to the total of current and expected future cash flows for the intangible assets. The completed technology and the customer relationships are expected to be amortized over approximately seven and 15 years, respectively, in each case the estimated lives of the assets. The fair value of deferred revenue was determined using the market approach. The remainder of the purchase price was allocated to goodwill and is not tax deductible. There are $1.5 million and $1.6 million in revenues from Captricity’s operations included in the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020, respectively. The following summarizes the preliminary allocation of the purchase price for the 2020 acquisition s of Innovest and Captricity. The assets and liabilities pending finalization include the valuation of acquired tangible and intangible assets and the evaluation of taxes (in millions): Innovest Captricity Accounts receivable $ 6.2 $ 0.3 Fixed assets 1.6 — Other assets 3.2 3.1 Acquired client relationships and contracts 39.2 3.6 Completed technology 20.1 7.0 Trade names 3.6 0.2 Goodwill 54.1 4.7 Accounts payable (1.1 ) (0.4 ) Accrued employee compensation and benefits (1.1 ) (0.3 ) Deferred revenue (1.4 ) (2.1 ) Other liabilities assumed (4.9 ) (0.8 ) Consideration paid, net of cash acquired $ 119.5 $ 15.3 We recorded severance expense related to reductions in headcount in connection with the integration efforts associated with the acquisitions of DST, Eze, Intralinks and Captricity. The amount of severance expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the six months ended June 30, 2020 and 2019 was as follows (in millions): For the Six Months Ended June 30, Consolidated Statements of Comprehensive Income Classification 2020 2019 Cost of software-enabled services $ 21.5 $ 3.8 Cost of license, maintenance and other related 1.2 — Total cost of revenues 22.7 3.8 Selling and marketing 1.4 2.8 Research and development 5.1 0.9 General and administrative 2.5 1.8 Total operating expenses 9.0 5.5 Total severance expense $ 31.7 $ 9.3 The following unaudited pro forma information is provided for illustrative purposes only and assumes that the acquisition of Innovest and Captricity occurred on January 1, 2019 and the acquisitions of Algorithmics and Investrack occurred on January 1, 2018, after giving effect to certain adjustments, including amortization of intangibles, interest, transaction costs and tax effects. This unaudited pro forma information (in millions, 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 those dates, nor of the results that may be obtained in the future. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenues $ 1,145.4 $ 1,188.3 $ 2,335.4 $ 2,365.3 Net income $ 171.8 $ 125.9 $ 273.4 $ 210.4

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	Note 6—Goodwill The change in carrying value of goodwill as of and for the six months ended June 30, 2020 is as follows (in millions): Balance at December 31, 2019 $ 7,959.9 2020 acquisitions 58.8 Adjustments to prior acquisitions (4.5 ) Effect of foreign currency translation (74.5 ) Balance at June 30, 2020 $ 7,939.7

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Note 7 —Debt At June 30, 2020 and December 31, 2019, debt consisted of the following (in millions): June 30, December 31, 2020 2019 Senior secured credit facilities, weighted-average interest rate of 1.93% and 4.05%, respectively $ 4,943.0 $ 5,198.7 5.5% senior notes due 2027 2,000.0 2,000.0 Other indebtedness 22.5 25.6 Unamortized original issue discount and debt issuance costs (63.0 ) (70.2 ) 6,902.5 7,154.1 Less: current portion of long-term debt 71.8 76.3 Long-term debt $ 6,830.7 $ 7,077.8 On January 31, 2020, we entered into an amendment (the “Amendment”) to our senior secured credit agreement dated April 16, 2018. Pursuant to the Amendment, the interest rate margin applicable to Term Loan B was reduced from LIBOR plus 2.25% to LIBOR plus 1.75%. 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 We recorded a $2.8 million loss on extinguishment of debt in the three months ended March 31, 2020 in connection with the Amendment. The loss on extinguishment of debt includes the write-off of a portion of the unamortized capitalized financing fees related to our senior secured credit agreement for amounts accounted for as a debt extinguishment, as well as new financing fees for amounts accounted for as a debt modification . On March 24, 2020, we borrowed $211.0 million under our Revolving Credit Facility as a precautionary measure to increase liquidity and preserve financial flexibility in light of uncertainty resulting from the COVID-19 pandemic. We borrowed $35.0 million under the Revolving Credit Facility earlier in March for normal seasonal cash flow needs. As of June 30, 2020, we paid off the outstanding borrowings under our Revolving Credit Facility. During the second quarter of 2020, we purchased $50.0 million principal amount of our Term Loans in privately negotiated transactions, which resulted in a net gain on extinguishment of debt of $0.2 million. Fair Value of Debt The carrying amounts and fair values of financial instruments are as follows (in millions): June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 4,943.0 $ 4,716.2 $ 5,198.7 $ 5,231.7 5.5% senior notes due 2027 2,000.0 2,036.8 2,000.0 2,135.0 Other indebtedness 22.5 22.7 25.6 25.9 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.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	Note 8—Stockholders’ Equity Stock repurchase program In August 2019, our Board of Directors authorized the repurchase of up to $500 million of our common stock on the open market or in privately negotiated transactions. During the three months ended June 30, 2020, we repurchased 0.5 million shares of common stock for approximately $27.9 million. We use the cost method to account for treasury stock purchases. Under the cost method, the price paid for the stock is charged to the treasury stock account. In July 2020, our Board of Directors authorized the renewal and increase of our stock repurchase program, which will enable us to repurchase up to $750 million in the aggregate of our outstanding common stock. Our authority to repurchase shares under the renewed program will continue until the one-year anniversary of the Board’s authorization, unless earlier terminated by the Board. Dividends We paid a quarterly cash dividend of $0.125 per share of common stock in March and June of 2020 totaling $64.0 million in the aggregate. We paid a quarterly cash dividend of $0.10 per share of common stock in March and June of 2019 totaling $50.6 million in the aggregate. Accumulated Accumulated other comprehensive loss balances, net of tax, consists of the following (in millions): Interest Rate Swap Foreign Currency Translation Accumulated Other Comprehensive Loss Balance, December 31, 2019 $ (2.8 ) $ (250.2 ) $ (253.0 ) Net current period other comprehensive loss (2.7 ) (116.6 ) (119.3 ) Balance, June 30, 2020 $ (5.5 ) $ (366.8 ) $ (372.3 ) Adjustments to accumulated other comprehensive loss are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Pretax Tax Effect Pretax Tax Effect Pretax Tax Effect Pretax Tax Effect Interest Rate Swap Unrealized losses on interest rate swaps $ (1.1 ) $ 0.1 $ (4.3 ) $ 1.0 $ (2.7 ) $ 1.0 $ (4.3 ) $ 1.0 Reclassification of losses into net earnings on interest rate swaps 0.7 — 0.5 — (1.0 ) — 0.5 — Net change in cash flow hedges (0.4 ) 0.1 (3.8 ) 1.0 (3.7 ) 1.0 (3.8 ) 1.0 Foreign Currency Translation Current period translation adjustments 34.6 (0.5 ) (10.8 ) (0.2 ) (116.9 ) 0.3 31.1 (0.3 ) Net cumulative translation adjustments 34.6 (0.5 ) (10.8 ) (0.2 ) (116.9 ) 0.3 31.1 (0.3 ) Total other comprehensive income (loss) $ 34.2 $ (0.4 ) $ (14.6 ) $ 0.8 $ (120.6 ) $ 1.3 $ 27.3 $ 0.7

Revenues

Revenues	6 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenues	Note 9—Revenues We generate revenues primarily through our software-enabled services. Our 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. We also generate revenues by licensing our software to clients through either perpetual or term licenses and by selling maintenance services. We classify license revenues related to sales-based royalty arrangements as term license revenue. Maintenance services are generally provided under annually renewable contracts. Our pricing typically scales as a function of our clients’ assets under management, the complexity of asset classes managed, the volume of transactions and the level of service the client requires. Revenues from professional services consist mostly of services provided on a time and materials basis. Deferred revenues primarily represent unrecognized fees billed or collected for maintenance and professional services. Deferred revenues are recognized as (or when) we perform under the contract. Deferred revenues are recorded on a net basis with contract assets at the contract level. Accordingly, as of June 30, 2020 and December 31, 2019, approximately $49.7 million and $51.8 million, respectively, 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 $79.9 million and $187.9 million for the three and six months ended June 30, 2020, respectively. The amount of revenues recognized in the period that was included in the opening deferred revenues balance was $59.6 million and $146.4 million for the three and six months ended June 30, 2019, respectively. As of June 30, 2020, revenue of approximately $601.8 million is expected to be recognized from remaining performance obligations for license, maintenance and related revenues, of which $335.0 million is expected to be recognized over the next twelve months. We record revenue net of any taxes assessed by governmental authorities. Revenue Disaggregation The following table disaggregates our revenues by geography (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 United States $ 837.4 $ 841.9 $ 1,699.5 $ 1,670.3 United Kingdom 141.7 164.9 297.9 331.2 Europe (excluding United Kingdom), Middle East and Africa 59.8 49.2 122.8 97.5 Asia-Pacific and Japan 47.1 48.4 92.5 100.0 Canada 34.4 27.4 62.9 54.5 Americas, excluding United States and Canada 17.7 16.2 36.1 31.7 Total $ 1,138.1 $ 1,148.0 $ 2,311.7 $ 2,285.2 The following table disaggregates our revenues by source (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Software-enabled services $ 945.0 $ 962.7 $ 1,934.5 $ 1,934.7 Maintenance and term licenses 163.5 155.9 323.3 286.0 Professional services 23.7 21.0 43.7 41.0 Perpetual licenses 5.9 8.4 10.2 23.5 Total $ 1,138.1 $ 1,148.0 $ 2,311.7 $ 2,285.2

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stock Based Compensation	Note 10—Stock Based Compensation S tock options, SARs and RSUs The amount of stock-based compensation expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020 and 2019 was as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Condensed Consolidated Statements of Comprehensive Income Classification 2020 2019 2020 2019 Cost of software-enabled services $ 8.7 $ 7.1 $ 17.8 $ 15.7 Cost of license, maintenance and other related 1.3 1.2 2.6 2.6 Total cost of revenues 10.0 8.3 20.4 18.3 Selling and marketing 3.4 3.0 6.9 6.0 Research and development 2.7 2.3 5.6 4.9 General and administrative 6.0 4.6 11.7 9.4 Total operating expenses 12.1 9.9 24.2 20.3 Total stock-based compensation expense $ 22.1 $ 18.2 $ 44.6 $ 38.6 The following table summarizes stock option and stock appreciation rights (“SARs”) activity as well as restricted stock unit (“RSUs”) activity for the six months ended June 30, 2020 (shares in millions): Stock Options and SARs RSUs Shares Shares Outstanding at December 31, 2019 42.1 0.5 Granted 0.5 — Cancelled/forfeited (0.9 ) — Vested — (0.3 ) Exercised (3.0 ) — Outstanding at June 30, 2020 38.7 0.2

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 11—Income Taxes The effective tax rate was 14.8% and 22.0% for the three months ended June 30, 2020 and 2019, respectively and 16.8% and 19.9% for the six months ended June 30, 2020 and 2019, respectively. The change in the effective tax rate for the three and six months ended June 30, 2020 compared to the respective prior year periods was primarily due to recognition of a state tax benefit related to a law change, partially offset by a proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions. The change in the effective tax rate for the six months ended June 30, 2020 compared to the respective prior year period was also impacted by a decrease in recognition of windfall tax benefits from stock awards in the current year. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States. We evaluated the provisions of the CARES Act as of March 31, 2020, with no material effect on income taxes in the financial statements. Certain tax provisions of the CARES Act may result in immaterial cash tax benefits.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings per Share	Note 12—Earnings per Share The following table sets forth the computation of basic and diluted EPS (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net income $ 169.5 $ 121.1 $ 268.7 $ 201.9 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 257.0 253.3 256.1 252.4 Weighted average common stock equivalents — stock options and restricted shares 8.8 12.9 9.6 12.6 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 265.8 266.2 265.7 265.0 Earnings per share - Basic $ 0.66 $ 0.48 $ 1.05 $ 0.80 Earnings per share - Diluted $ 0.64 $ 0.45 $ 1.01 $ 0.76 Stock options and SARs representing 12.4 million and 12.3 million shares were outstanding for the three and six months ended June 30, 2020, respectively, but were not included in the computation of diluted EPS because the effect of including them would be anti-dilutive. Stock options and SARs representing 4.1 million and 4.4 million shares were outstanding for the three and six months ended June 30, 2019, respectively, but were not included in the computation of diluted EPS because the effect of including them would be anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13—Commitments and Contingencies From time to time, we are subject to legal proceedings and claims. In our opinion, we are not involved in any litigation or proceedings that would have a material adverse effect on us or our business. Legal Proceedings A putative representative action suit was filed against DST, the Compensation Committee of DST’s Board of Directors, the Advisory Committee of DST Systems, Inc. 401(k) Profit Sharing Plan (the “Plan”) and certain of DST’s present and/or former officers and directors, alleging breach of fiduciary duties and other violations of the Employee Retirement Income Security Act (“ERISA”). On September 1, 2017, a complaint was filed purportedly on behalf of the Plan in the United States District Court for the Southern District of New York, captioned Ferguson, et al v. Ruane Cunniff & Goldfarb Inc., et al., naming as defendants DST, the Compensation Committee of DST’s Board of Directors, the Advisory Committee of the Plan and certain of DST’s present and/or former officers and directors (collectively the “DST Defendants”). On September 18, 2019, the United States District Court for the Southern District of New York granted a partial dismissal related to certain claims against the DST Defendants concerning the 401k portion of the Plan. On October 31, 2019, the DST Defendants filed an answer to the amended complaint and asserted crossclaims for contribution and/or indemnification against Ruane, Cunniff & Goldfarb Inc. (“Ruane”). On January 9, 2020, Ruane filed an amended answer to the amended complaint asserting crossclaims for contribution and/or indemnification against DST. Both DST and Ruane have filed answers denying the crossclaims asserted against them. On April 10, 2020, Plaintiffs filed a motion for leave to file a third amended complaint as well as a motion to certify a class. The DST Ferguson Defendants did not oppose those motions. Briefing was completed on May 8, 2020 and those motions remain pending. On September 28, 2018, a complaint was filed in the United States District Court for the Southern District of New York captioned Robert Canfield, et al. v. SS&C Technologies Holdings, Inc., et al., on behalf of five individual plaintiffs. On November 5, 2018, a similar complaint was filed in the United States District Court for the Southern District of New York captioned Mark Mendon, et al. v. SS&C Technologies Holdings, Inc., et al., on behalf of two individual plaintiffs. These complaints name as defendants SS&C, DST, the Advisory Committee of the Plan, the Compensation Committee of DST’s Board of Directors and Ruane. The underlying claim in each complaint is the same as in the above-described Ferguson matter, with the exception that these are individual actions and not putative class actions. On February 18, 2020, the DST Defendants moved to disqualify plaintiffs’ counsel in these actions and in nearly all of the arbitrations described below. Those motions were fully briefed on March 24, 2020 and remain pending. On July 6, 2020, plaintiffs filed a notice of voluntary dismissal, in which they sought to dismiss claims against Ruane with prejudice. DST, the Advisory Committee of the Plan, and the Compensation Committee of DST’s Board of Directors have been named in 485 substantially similar individual demands for arbitration through July 6, 2020, by former and current DST employees demanding arbitration under the DST Employee Arbitration Program and Agreement. The underlying claim in each is the same as in the above-described Ferguson matter, with the exception that each is an individual claim and not a putative class action. As of April 23, 2020, the parties have jointly submitted 393 of the demands for arbitration to the American Arbitration Association. The remaining demands for arbitration have not yet been submitted. On October 8, 2019, a substantially similar action to the above-described Ferguson, Canfield, Mendon and arbitration matters captioned Scalia v. Ruane, Cunniff & Goldfarb Inc. was filed by the U.S. Department of Labor (“DOL”) in the United States District Court for the Southern District of New York naming as defendants DST, the Advisory Committee of the Plan, the Compensation Committee of DST’s Board of Directors and certain of DST’s former officers and directors (“DST DOL Defendants”), and alleging that the DST DOL Defendants breached fiduciary duties in violation of ERISA in connection with the Plan. The complaint also names as defendants Ruane and its former Chairman and Chief Executive Officer Robert D. Goldfarb. In the complaint, the DOL seeks disgorgement, damages and any other appropriate injunctive or equitable relief. On December 10, 2019, the DST DOL Defendants and Ruane filed separate letter motions requesting a pre-motion conference on their anticipated motions to dismiss the complaint. The DOL filed responses on December 13, 2019. Those letter motions remained pending as of July 6, 2020. The Court has not yet set a schedule for this matter. On December 10, 2019, Ruane filed a complaint in the United States District Court for the Southern District of New York captioned Ruane, Cunniff & Goldfarb Inc. v. Percy Payne, et al. against the former and current DST employees who brought arbitration claims against Ruane and the DST Defendants. Ruane named DST and others as nominal defendants. The complaint seeks a declaratory judgment that multiple Plan participants and representatives cannot pursue duplicative actions seeking the same or similar relief. On December 18, 2019, Ruane filed a motion seeking a preliminary injunction prohibiting the arbitrations from proceeding until a determination by the Court as to which action or actions should proceed. That motion remains pending. We continue to vigorously defend these matters. We have not yet determined what effect these matters will have, if any, on our financial position or results of operations.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments
Recent Accounting Pronouncements Not Yet Effective	Recent Accounting Pronouncements Not Yet Effective In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740)

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment and Related Accumulated Depreciation	Property, plant and equipment and the related accumulated depreciation are as follows (in millions): June 30, December 31, 2020 2019 Land $ 46.5 $ 47.5 Building and improvements 297.9 302.2 Equipment, furniture, and fixtures 433.9 427.1 778.3 776.8 Less: accumulated depreciation and amortization (354.5 ) (310.4 ) Total property, plant and equipment, net $ 423.8 $ 466.4

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Summary of Investments	Investments are as follows (in millions): June 30, December 31, 2020 2019 Partnership interests in private equity funds $ 53.1 $ 76.7 Marketable equity securities 28.7 37.9 Non-marketable equity securities 84.5 45.5 Total investments $ 166.3 $ 160.1
Schedule of Realized and Unrealized Gains and Losses on Investments	Realized and unrealized gains and losses for our equity securities are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Unrealized gains (losses) on equity securities held as of the end of the period $ 10.4 $ 30.1 $ (0.8 ) $ 37.5 Realized gains (losses) for equity securities sold during the period 6.1 (0.4 ) 7.8 (0.9 ) Total gains recognized in other income, net $ 16.5 $ 29.7 $ 7.0 $ 36.6
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present assets and liabilities measured at fair value on a recurring basis (in millions): Fair Value Measurements at Reporting Date Using June 30, 2020 Quoted prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 468.1 $ 468.1 $ — $ — Marketable equity securities (2) 28.7 28.7 — — Deferred compensation liabilities (3) (15.1 ) (15.1 ) — — Total $ 481.7 $ 481.7 $ — $ — _____________________________________________________ (1) Included in Cash and cash equivalents and Funds receivable and funds held on behalf of clients on the Condensed Consolidated Balance Sheet. (2) Included in Investments on the Condensed Consolidated Balance Sheet. (3) Included in Other long-term liabilities on the Condensed Consolidated Balance Sheet. Fair Value Measurements at Reporting Date Using December 31, 2019 Quoted prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Money market funds (1) $ 1,051.1 $ 1,051.1 $ — $ — Marketable equity securities (2) 37.9 37.9 — — Deferred compensation liabilities (3) (20.8 ) (20.8 ) — — Total $ 1,068.2 $ 1,068.2 $ — $ — _____________________________________________________ (1) Included in Cash and cash equivalents and Funds receivable and funds held on behalf of clients on the Condensed Consolidated Balance Sheet. (2) Included in Investments on the Condensed Consolidated Balance Sheet. (3) Included in Other long-term liabilities on the Condensed Consolidated Balance Sheet.

Unconsolidated Affiliates (Tabl

Unconsolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Schedule of Investments in Unconsolidated Affiliates	Investments in unconsolidated affiliates are as follows (in millions): Carrying Value Excess carrying value of investment over proportionate share of net assets Ownership Percentage June 30, 2020 June 30, 2020 International Financial Data Services L.P. 50% $ 92.1 $ 43.2 Pershing Road Development Company, LLC 50% 72.6 73.9 Broadway Square Partners, LLP 50% 51.6 29.8 Other unconsolidated affiliates 6.4 — Total $ 222.7 $ 146.9
Schedule of Equity in Earnings of Unconsolidated Affiliates	Equity in earnings of unconsolidated affiliates, net are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 International Financial Data Services L.P. $ 1.0 $ 0.9 $ 1.7 $ 1.6 Pershing Road Development Company, LLC 0.4 0.1 1.2 0.6 Broadway Square Partners, LLP 0.4 0.3 0.6 0.5 Other unconsolidated affiliates (2.8 ) 0.9 (3.8 ) (0.5 ) Total $ (1.0 ) $ 2.2 $ (0.3 ) $ 2.2

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Summary of Allocation of Purchase Price for Acquisitions of Acquiree	The following summarizes the preliminary allocation of the purchase price for the 2020 acquisition s of Innovest and Captricity. The assets and liabilities pending finalization include the valuation of acquired tangible and intangible assets and the evaluation of taxes (in millions): Innovest Captricity Accounts receivable $ 6.2 $ 0.3 Fixed assets 1.6 — Other assets 3.2 3.1 Acquired client relationships and contracts 39.2 3.6 Completed technology 20.1 7.0 Trade names 3.6 0.2 Goodwill 54.1 4.7 Accounts payable (1.1 ) (0.4 ) Accrued employee compensation and benefits (1.1 ) (0.3 ) Deferred revenue (1.4 ) (2.1 ) Other liabilities assumed (4.9 ) (0.8 ) Consideration paid, net of cash acquired $ 119.5 $ 15.3
Schedule of Severance Expense Recognized	The amount of severance expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the six months ended June 30, 2020 and 2019 was as follows (in millions): For the Six Months Ended June 30, Consolidated Statements of Comprehensive Income Classification 2020 2019 Cost of software-enabled services $ 21.5 $ 3.8 Cost of license, maintenance and other related 1.2 — Total cost of revenues 22.7 3.8 Selling and marketing 1.4 2.8 Research and development 5.1 0.9 General and administrative 2.5 1.8 Total operating expenses 9.0 5.5 Total severance expense $ 31.7 $ 9.3
Summary of Unaudited Pro Forma Information	The following unaudited pro forma information is provided for illustrative purposes only and assumes that the acquisition of Innovest and Captricity occurred on January 1, 2019 and the acquisitions of Algorithmics and Investrack occurred on January 1, 2018, after giving effect to certain adjustments, including amortization of intangibles, interest, transaction costs and tax effects. This unaudited pro forma information (in millions, 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 those dates, nor of the results that may be obtained in the future. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenues $ 1,145.4 $ 1,188.3 $ 2,335.4 $ 2,365.3 Net income $ 171.8 $ 125.9 $ 273.4 $ 210.4

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Change in Carrying Value of Goodwill	The change in carrying value of goodwill as of and for the six months ended June 30, 2020 is as follows (in millions): Balance at December 31, 2019 $ 7,959.9 2020 acquisitions 58.8 Adjustments to prior acquisitions (4.5 ) Effect of foreign currency translation (74.5 ) Balance at June 30, 2020 $ 7,939.7

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Component of Debt	At June 30, 2020 and December 31, 2019, debt consisted of the following (in millions): June 30, December 31, 2020 2019 Senior secured credit facilities, weighted-average interest rate of 1.93% and 4.05%, respectively $ 4,943.0 $ 5,198.7 5.5% senior notes due 2027 2,000.0 2,000.0 Other indebtedness 22.5 25.6 Unamortized original issue discount and debt issuance costs (63.0 ) (70.2 ) 6,902.5 7,154.1 Less: current portion of long-term debt 71.8 76.3 Long-term debt $ 6,830.7 $ 7,077.8
Schedule of Carrying Amounts and Fair Values of Financial Instruments	The carrying amounts and fair values of financial instruments are as follows (in millions): June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: Senior secured credit facilities $ 4,943.0 $ 4,716.2 $ 5,198.7 $ 5,231.7 5.5% senior notes due 2027 2,000.0 2,036.8 2,000.0 2,135.0 Other indebtedness 22.5 22.7 25.6 25.9

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss Balances, Net of Tax	Accumulated Accumulated other comprehensive loss balances, net of tax, consists of the following (in millions): Interest Rate Swap Foreign Currency Translation Accumulated Other Comprehensive Loss Balance, December 31, 2019 $ (2.8 ) $ (250.2 ) $ (253.0 ) Net current period other comprehensive loss (2.7 ) (116.6 ) (119.3 ) Balance, June 30, 2020 $ (5.5 ) $ (366.8 ) $ (372.3 )
Schedule of Adjustments to Accumulated Other Comprehensive Loss	Adjustments to accumulated other comprehensive loss are as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Pretax Tax Effect Pretax Tax Effect Pretax Tax Effect Pretax Tax Effect Interest Rate Swap Unrealized losses on interest rate swaps $ (1.1 ) $ 0.1 $ (4.3 ) $ 1.0 $ (2.7 ) $ 1.0 $ (4.3 ) $ 1.0 Reclassification of losses into net earnings on interest rate swaps 0.7 — 0.5 — (1.0 ) — 0.5 — Net change in cash flow hedges (0.4 ) 0.1 (3.8 ) 1.0 (3.7 ) 1.0 (3.8 ) 1.0 Foreign Currency Translation Current period translation adjustments 34.6 (0.5 ) (10.8 ) (0.2 ) (116.9 ) 0.3 31.1 (0.3 ) Net cumulative translation adjustments 34.6 (0.5 ) (10.8 ) (0.2 ) (116.9 ) 0.3 31.1 (0.3 ) Total other comprehensive income (loss) $ 34.2 $ (0.4 ) $ (14.6 ) $ 0.8 $ (120.6 ) $ 1.3 $ 27.3 $ 0.7

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenues by Geography and Source	The following table disaggregates our revenues by geography (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 United States $ 837.4 $ 841.9 $ 1,699.5 $ 1,670.3 United Kingdom 141.7 164.9 297.9 331.2 Europe (excluding United Kingdom), Middle East and Africa 59.8 49.2 122.8 97.5 Asia-Pacific and Japan 47.1 48.4 92.5 100.0 Canada 34.4 27.4 62.9 54.5 Americas, excluding United States and Canada 17.7 16.2 36.1 31.7 Total $ 1,138.1 $ 1,148.0 $ 2,311.7 $ 2,285.2 The following table disaggregates our revenues by source (in millions): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Software-enabled services $ 945.0 $ 962.7 $ 1,934.5 $ 1,934.7 Maintenance and term licenses 163.5 155.9 323.3 286.0 Professional services 23.7 21.0 43.7 41.0 Perpetual licenses 5.9 8.4 10.2 23.5 Total $ 1,138.1 $ 1,148.0 $ 2,311.7 $ 2,285.2

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Stock-Based Compensation Expense Recognized	S tock options, SARs and RSUs The amount of stock-based compensation expense recognized in our Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020 and 2019 was as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Condensed Consolidated Statements of Comprehensive Income Classification 2020 2019 2020 2019 Cost of software-enabled services $ 8.7 $ 7.1 $ 17.8 $ 15.7 Cost of license, maintenance and other related 1.3 1.2 2.6 2.6 Total cost of revenues 10.0 8.3 20.4 18.3 Selling and marketing 3.4 3.0 6.9 6.0 Research and development 2.7 2.3 5.6 4.9 General and administrative 6.0 4.6 11.7 9.4 Total operating expenses 12.1 9.9 24.2 20.3 Total stock-based compensation expense $ 22.1 $ 18.2 $ 44.6 $ 38.6
Summary of Stock Option and Stock Appreciation Rights ("SARs") Activity as well as Restricted Stock Unit ("RSUs") Activity	The following table summarizes stock option and stock appreciation rights (“SARs”) activity as well as restricted stock unit (“RSUs”) activity for the six months ended June 30, 2020 (shares in millions): Stock Options and SARs RSUs Shares Shares Outstanding at December 31, 2019 42.1 0.5 Granted 0.5 — Cancelled/forfeited (0.9 ) — Vested — (0.3 ) Exercised (3.0 ) — Outstanding at June 30, 2020 38.7 0.2

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table sets forth the computation of basic and diluted EPS (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net income $ 169.5 $ 121.1 $ 268.7 $ 201.9 Shares: Weighted average common shares outstanding — used in calculation of basic EPS 257.0 253.3 256.1 252.4 Weighted average common stock equivalents — stock options and restricted shares 8.8 12.9 9.6 12.6 Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS 265.8 266.2 265.7 265.0 Earnings per share - Basic $ 0.66 $ 0.48 $ 1.05 $ 0.80 Earnings per share - Diluted $ 0.64 $ 0.45 $ 1.01 $ 0.76

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment and Related Accumulated Depreciation (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 778.3	$ 776.8
Less: accumulated depreciation and amortization	(354.5)	(310.4)
Total property, plant and equipment, net	423.8	466.4
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	46.5	47.5
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	297.9	302.2
Equipment, Furniture, and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 433.9	$ 427.1

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Depreciation expense	$ 27.1	$ 31.1	$ 54.1	$ 63.1

Investments - Summary of Invest

Investments - Summary of Investments (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Total investments	$ 166.3	$ 160.1
Partnership Interests in Private Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	53.1	76.7
Marketable Equity Securities [Member]
Schedule of Investments [Line Items]
Total investments	28.7	37.9
Non Marketable Equity Securities [Member]
Schedule of Investments [Line Items]
Total investments	$ 84.5	$ 45.5

Investments - Schedule of Reali

Investments - Schedule of Realized and Unrealized Gains and Losses on Investments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments Debt And Equity Securities [Abstract]
Unrealized gains (losses) on equity securities held as of the end of the period	$ 10.4	$ 30.1	$ (0.8)	$ 37.5
Realized gains (losses) for equity securities sold during the period	6.1	(0.4)	7.8	(0.9)
Total gains recognized in other income, net	$ 16.5	$ 29.7	$ 7	$ 36.6

Investments - Summary of Assets

Investments - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Deferred compensation liabilities	$ (15.1)	$ (20.8)
Total	481.7	1,068.2
Money Market Funds [Member]
Schedule of Investments [Line Items]
Investments measured at fair value	468.1	1,051.1
Marketable Equity Securities [Member]
Schedule of Investments [Line Items]
Investments measured at fair value	28.7	37.9
Quoted prices in Active Markets for Identical Assets (Level 1) [Member]
Schedule of Investments [Line Items]
Deferred compensation liabilities	(15.1)	(20.8)
Total	481.7	1,068.2
Quoted prices in Active Markets for Identical Assets (Level 1) [Member] | Money Market Funds [Member]
Schedule of Investments [Line Items]
Investments measured at fair value	468.1	1,051.1
Quoted prices in Active Markets for Identical Assets (Level 1) [Member] | Marketable Equity Securities [Member]
Schedule of Investments [Line Items]
Investments measured at fair value	$ 28.7	$ 37.9

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule of Investments [Line Items]
Total investments	$ 166,300,000		$ 160,100,000
Investments in private equity funds percentage	71.00%		75.00%
Private equity fund termination date	2020
Private equity fund termination extension period	1 year
Unfunded commitments	$ 0
Non Marketable Equity Securities [Member]
Schedule of Investments [Line Items]
Fair value, adjusted downward	1,000,000
Fair value, adjusted upward		$ 500,000
Total investments	84,500,000		$ 45,500,000
Partnership Interests in Private Equity Funds [Member]
Schedule of Investments [Line Items]
Total investments	53,100,000		76,700,000
Investments, fair value	49,000,000		72,100,000
Equity method investments, fair value	4,100,000		4,600,000
Other Private Equity Fund [Member]
Schedule of Investments [Line Items]
Investments, fair value	$ 1,000,000		$ 1,600,000

Unconsolidated Affiliates - Sch

Unconsolidated Affiliates - Schedule of Investments in Unconsolidated Affiliates (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Carrying Value	$ 222.7	$ 234.8
Excess carrying value of investment over proportionate share of net assets	$ 146.9
International Financial Data Services L.P. [Member]
Schedule of Investments [Line Items]
Ownership Percentage	50.00%
Carrying Value	$ 92.1
Excess carrying value of investment over proportionate share of net assets	$ 43.2
Pershing Road Development Company, LLC [Member]
Schedule of Investments [Line Items]
Ownership Percentage	50.00%
Carrying Value	$ 72.6
Excess carrying value of investment over proportionate share of net assets	$ 73.9
Broadway Square Partners, LLP [Member]
Schedule of Investments [Line Items]
Ownership Percentage	50.00%
Carrying Value	$ 51.6
Excess carrying value of investment over proportionate share of net assets	29.8
Other Unconsolidated Affiliates [Member]
Schedule of Investments [Line Items]
Carrying Value	$ 6.4

Unconsolidated Affiliates - S_2

Unconsolidated Affiliates - Schedule of Equity in Earnings of Unconsolidated Affiliates (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Investments [Line Items]
Equity in earnings of unconsolidated affiliates	$ (1)	$ 2.2	$ (0.3)	$ 2.2
International Financial Data Services L.P. [Member]
Schedule of Investments [Line Items]
Equity in earnings of unconsolidated affiliates	1	0.9	1.7	1.6
Pershing Road Development Company, LLC [Member]
Schedule of Investments [Line Items]
Equity in earnings of unconsolidated affiliates	0.4	0.1	1.2	0.6
Broadway Square Partners, LLP [Member]
Schedule of Investments [Line Items]
Equity in earnings of unconsolidated affiliates	0.4	0.3	0.6	0.5
Other Unconsolidated Affiliates [Member]
Schedule of Investments [Line Items]
Equity in earnings of unconsolidated affiliates	$ (2.8)	$ 0.9	$ (3.8)	$ (0.5)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	May 15, 2020	Mar. 24, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Revenues			$ 1,138.1	$ 1,148	$ 2,311.7	$ 2,285.2
Innovest [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition	May 15, 2020
Consideration paid, net of cash plus the costs of transaction	$ 99.4
Revenues			5.5		5.5
Innovest [Member] | Completed Technology [Member]
Business Acquisition [Line Items]
Amortized period	13 years
Innovest [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Amortized period	14 years
Innovest [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Amortized period	7 years
Innovest [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Consideration paid, shares plus the costs of transaction	0.4
Captricity [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition		Mar. 24, 2020
Consideration paid, net of cash plus the costs of transaction		$ 15.3
Revenues			$ 1.5		$ 1.6
Captricity [Member] | Completed Technology [Member]
Business Acquisition [Line Items]
Amortized period					7 years
Captricity [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Amortized period					15 years

Acquisitions - Summary of Alloc

Acquisitions - Summary of Allocation of Purchase Price for Acquisitions of Acquiree (Detail) - USD ($) $ in Millions	Jun. 30, 2020	May 18, 2020	Mar. 24, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 7,939.7			$ 7,959.9
Innovest [Member]
Business Acquisition [Line Items]
Accounts receivable		$ 6.2
Fixed assets		1.6
Other assets		3.2
Goodwill		54.1
Accounts payable		(1.1)
Accrued employee compensation and benefits		(1.1)
Deferred revenue		(1.4)
Other liabilities assumed		(4.9)
Consideration paid, net of cash acquired		119.5
Captricity [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 0.3
Other assets			3.1
Goodwill			4.7
Accounts payable			(0.4)
Accrued employee compensation and benefits			(0.3)
Deferred revenue			(2.1)
Other liabilities assumed			(0.8)
Consideration paid, net of cash acquired			15.3
Acquired Client Relationships and Contracts [Member] | Innovest [Member]
Business Acquisition [Line Items]
Intangible assets acquired		39.2
Acquired Client Relationships and Contracts [Member] | Captricity [Member]
Business Acquisition [Line Items]
Intangible assets acquired			3.6
Completed Technology [Member] | Innovest [Member]
Business Acquisition [Line Items]
Intangible assets acquired		20.1
Completed Technology [Member] | Captricity [Member]
Business Acquisition [Line Items]
Intangible assets acquired			7
Trade Names [Member] | Innovest [Member]
Business Acquisition [Line Items]
Intangible assets acquired		$ 3.6
Trade Names [Member] | Captricity [Member]
Business Acquisition [Line Items]
Intangible assets acquired			$ 0.2

Acquisitions - Schedule of Seve

Acquisitions - Schedule of Severance Expense Recognized (Detail) - DST, Eze, Intralinks and Captricity [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	$ 31.7	$ 9.3
Total Cost of Revenues [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	22.7	3.8
Total Cost of Revenues [Member] | Software-enabled Services [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	21.5	3.8
Total Cost of Revenues [Member] | License, Maintenance and Related [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	1.2
Selling and Marketing [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	1.4	2.8
Research and Development [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	5.1	0.9
General and Administrative [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	2.5	1.8
Total Operating Expenses [Member]
Business Combination Separately Recognized Transactions [Line Items]
Total severance expense	$ 9	$ 5.5

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Combinations [Abstract]
Revenues	$ 1,145.4	$ 1,188.3	$ 2,335.4	$ 2,365.3
Net income	$ 171.8	$ 125.9	$ 273.4	$ 210.4

Goodwill - Summary of Change in

Goodwill - Summary of Change in Carrying Value of Goodwill (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 7,959.9
2020 acquisitions	58.8
Adjustments to prior acquisitions	(4.5)
Effect of foreign currency translation	(74.5)
Ending balance	$ 7,939.7

Debt - Component of Debt (Detai

Debt - Component of Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Other indebtedness	$ 22.5	$ 25.6
Unamortized original issue discount and debt issuance costs	(63)	(70.2)
Debt	6,902.5	7,154.1
Less: current portion of long-term debt	71.8	76.3
Long-term debt	6,830.7	7,077.8
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Long-term debt gross	4,943	5,198.7
Senior Notes [Member] | 5.5% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Long-term debt gross	$ 2,000	$ 2,000

Debt - Component of Debt (Paren

Debt - Component of Debt (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Secured Debt [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Debt, weighted-average interest rate of credit facility	1.93%	4.05%
Senior Notes [Member] | 5.5% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Debt, interest rate	5.50%	5.50%
Debt, due date	2027	2027

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	Jan. 31, 2020	Jan. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Mar. 24, 2020	Feb. 29, 2020
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt			$ 0.2	$ (2.8)	$ (2.6)	$ (7.1)
Repayments of debt			$ 50		$ 503.3	$ 2,554.9
Minimum [Member]
Debt Instrument [Line Items]
Percentage of change in cash flows due to debt extinguishment obligation					10.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Letter of credit sub-facility, outstanding amount								$ 35
Credit facility, amount available							$ 211
Term Loan B [Member] | Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms					Pursuant to the Amendment, the interest rate margin applicable to Term Loan B was reduced from LIBOR plus 2.25% to LIBOR plus 1.75%
Term Loan B [Member] | Senior Secured Credit Facilities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%	2.25%

Debt - Schedule of Carrying Amo

Debt - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Carrying Amount [Member] | Senior Secured Credit Facilities [Member]
Financial liabilities:
Credit facility	$ 4,943	$ 5,198.7
Carrying Amount [Member] | 5.5% Senior Notes due 2027 [Member]
Financial liabilities:
Senior notes	2,000	2,000
Carrying Amount [Member] | Other Indebtedness [Member]
Financial liabilities:
Credit facility	22.5	25.6
Fair Value [Member] | Senior Secured Credit Facilities [Member]
Financial liabilities:
Credit facility	4,716.2	5,231.7
Fair Value [Member] | 5.5% Senior Notes due 2027 [Member]
Financial liabilities:
Credit facility	2,036.8	2,135
Fair Value [Member] | Other Indebtedness [Member]
Financial liabilities:
Credit facility	$ 22.7	$ 25.9

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jul. 30, 2020	Aug. 31, 2019
Class Of Stock [Line Items]
Payments for repurchase of common stock	$ 27,900,000				$ 27,900,000
Quarterly cash dividend paid	$ 0.125	$ 0.125	$ 0.10	$ 0.10
Dividends paid on common stock					$ 64,000,000	$ 50,600,000
Stock Repurchase Program [Member]
Class Of Stock [Line Items]
Repurchase of common stock , shares	0.5
Payments for repurchase of common stock	$ 27,900,000
Maximum [Member]
Class Of Stock [Line Items]
Stock repurchase program, authorized amount							$ 750,000,000	$ 500,000,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Accumulated Other Comprehensive Loss Balances, Net of Tax (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ 5,087.6	$ 4,733.5	$ 5,116.1	$ 4,580
Net current period other comprehensive loss	33.8	(13.8)	(119.3)	28
Ending balance	5,313.8	4,845.5	5,313.8	4,845.5
Interest Rate Swap [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			(2.8)
Net current period other comprehensive loss			(2.7)
Ending balance	(5.5)		(5.5)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			(250.2)
Net current period other comprehensive loss			(116.6)
Ending balance	(366.8)		(366.8)
Accumulated Other Comprehensive (Loss) Income [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(406.1)	(301.2)	(253)	(343)
Net current period other comprehensive loss			(119.3)
Ending balance	$ (372.3)	$ (315)	$ (372.3)	$ (315)

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Adjustments to Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss), Pretax	$ 34.2	$ (14.6)	$ (120.6)	$ 27.3
Other comprehensive income (loss), Tax Effect	(0.4)	0.8	1.3	0.7
Interest Rate Swap [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	(1.1)	(4.3)	(2.7)	(4.3)
Reclassification of losses into net earnings on interest rate swaps, Pretax	0.7	0.5	(1)	0.5
Other comprehensive income (loss), Pretax	(0.4)	(3.8)	(3.7)	(3.8)
Other comprehensive income (loss) before reclassifications, Tax Effect	0.1	1	1	1
Other comprehensive income (loss), Tax Effect	0.1	1	1	1
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss), before reclassifications, Pretax	34.6	(10.8)	(116.9)	31.1
Other comprehensive income (loss), Pretax	34.6	(10.8)	(116.9)	31.1
Other comprehensive income (loss) before reclassifications, Tax Effect	(0.5)	(0.2)	0.3	(0.3)
Other comprehensive income (loss), Tax Effect	$ (0.5)	$ (0.2)	$ 0.3	$ (0.3)

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Deferred Revenue Arrangement [Line Items]
Deferred revenue presented net within contract assets arising from contract			$ 49.7		$ 51.8
Deferred revenue recognized	$ 79.9	$ 59.6	187.9	$ 146.4
Revenue expected to be recognized from remaining performance obligations	601.8		601.8
Revenue expected to be recognized from remaining performance obligations in next twelve months	$ 335		$ 335
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

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenues by Geography (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 1,138.1	$ 1,148	$ 2,311.7	$ 2,285.2
United States [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	837.4	841.9	1,699.5	1,670.3
United Kingdom [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	141.7	164.9	297.9	331.2
Europe (excluding United Kingdom), Middle East and Africa [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	59.8	49.2	122.8	97.5
Asia-Pacific and Japan [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	47.1	48.4	92.5	100
Canada [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	34.4	27.4	62.9	54.5
Americas, excluding United States and Canada [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 17.7	$ 16.2	$ 36.1	$ 31.7

Revenues - Disaggregation of _2

Revenues - Disaggregation of Revenues by Source (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 1,138.1	$ 1,148	$ 2,311.7	$ 2,285.2
Software-enabled Services [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	945	962.7	1,934.5	1,934.7
Maintenance and Term Licenses [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	163.5	155.9	323.3	286
Professional Services [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	23.7	21	43.7	41
Perpetual Licenses [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 5.9	$ 8.4	$ 10.2	$ 23.5

Stock Based Compensation - Sche

Stock Based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 22.1	$ 18.2	$ 44.6	$ 38.6
Total Cost of Revenues [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	10	8.3	20.4	18.3
Total Cost of Revenues [Member] | Software-enabled Services [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	8.7	7.1	17.8	15.7
Total Cost of Revenues [Member] | License, Maintenance and Other Related [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1.3	1.2	2.6	2.6
Selling and Marketing [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	3.4	3	6.9	6
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2.7	2.3	5.6	4.9
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	6	4.6	11.7	9.4
Total Operating Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 12.1	$ 9.9	$ 24.2	$ 20.3

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock Option and Stock Appreciation Rights ("SARs") Activity as well as Restricted Stock Unit ("RSUs") Activity (Detail)	6 Months Ended
	Jun. 30, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Opening	42,100,000
Granted	500,000
Cancelled/forfeited	(900,000)
Exercised	(3,000,000)
Number of Shares, Outstanding Closing	38,700,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Opening	500,000
Vested	(300,000)
Number of Shares, Outstanding Closing	200,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	14.80%	22.00%	16.80%	19.90%

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income	$ 169.5	$ 121.1	$ 268.7	$ 201.9
Shares:
Weighted average common shares outstanding — used in calculation of basic EPS	257	253.3	256.1	252.4
Weighted average common stock equivalents — stock options and restricted shares	8.8	12.9	9.6	12.6
Weighted average common and common equivalent shares outstanding — used in calculation of diluted EPS	265.8	266.2	265.7	265
Earnings per share - Basic	$ 0.66	$ 0.48	$ 1.05	$ 0.80
Earnings per share - Diluted	$ 0.64	$ 0.45	$ 1.01	$ 0.76

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock options and SARs [Member]
Earnings Per Share [Line Items]
Anti-dilutive shares not included in computation of diluted EPS	12.4	4.1	12.3	4.4