Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 10, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'BRIGHT HORIZONS FAMILY SOLUTIONS INC. | ' | ' |
Entity Central Index Key | '0001437578 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 65,732,666 | ' |
Entity Public Float | ' | ' | $757.60 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $29,585 | $34,109 |
Accounts receivable-net | 78,691 | 62,714 |
Prepaid expenses and other current assets | 44,021 | 27,827 |
Current deferred income taxes | 12,873 | 11,367 |
Total current assets | 165,170 | 136,017 |
Fixed assets-net | 390,894 | 340,376 |
Goodwill | 1,096,283 | 997,344 |
Other intangibles-net | 435,060 | 432,580 |
Deferred income taxes | 236 | 132 |
Other assets | 15,027 | 9,659 |
Total assets | 2,102,670 | 1,916,108 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 7,900 | 2,036 |
Accounts payable and accrued expenses | 107,626 | 97,207 |
Deferred revenue | 119,260 | 90,563 |
Other current liabilities | 20,302 | 12,087 |
Total current liabilities | 255,088 | 201,893 |
Long-term debt | 756,323 | 904,607 |
Deferred rent and related obligations | 37,467 | 24,944 |
Other long-term liabilities | 19,006 | 23,717 |
Deferred revenue | 5,761 | 3,727 |
Deferred income taxes | 139,888 | 148,880 |
Total liabilities | 1,213,533 | 1,307,768 |
Commitments and contingencies (Note 14) | ' | ' |
Redeemable non-controlling interest | ' | 8,126 |
Common stock, Class L, $0.001 par value, at accreted distribution value; 1,500,000 shares authorized; no shares issued or outstanding at December 31, 2013; 1,327,115 shares issued and outstanding at December 31, 2012 | ' | 854,101 |
Stockholders' equity (deficit): | ' | ' |
Preferred stock, $0.001 par value; 25,000,000 shares authorized and no shares issued and outstanding at December 31, 2013; no shares authorized, issued and outstanding at December 31, 2012 | ' | ' |
Common stock, $0.001 par value; 475,000,000 shares authorized and 65,302,814 shares issued and outstanding at December 31, 2013; 14,500,000 shares authorized and 6,062,653 shares issued and outstanding at December 31, 2012 | 65 | 6 |
Additional paid-in capital | 1,270,198 | 150,088 |
Accumulated other comprehensive income (loss) | 1,416 | -8,816 |
Accumulated deficit | -382,542 | -395,165 |
Total stockholders' equity (deficit) | 889,137 | -253,887 |
Total liabilities, non-controlling interest, common stock and stockholders' equity (deficit) | $2,102,670 | $1,916,108 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, Class L, par value | $0.00 | $0.00 |
Common stock, Class L, authorized | 1,500,000 | 1,500,000 |
Common stock, Class L, issued | 0 | 1,327,115 |
Common stock, Class L, outstanding | 0 | 1,327,115 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, authorized | 25,000,000 | 0 |
Preferred stock, Issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, authorized | 475,000,000 | 14,500,000 |
Common stock, issued | 65,302,814 | 6,062,653 |
Common stock, outstanding | 65,302,814 | 6,062,653 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue | $1,218,776 | $1,070,938 | $973,701 |
Cost of services | 937,840 | 825,168 | 766,500 |
Gross profit | 280,936 | 245,770 | 207,201 |
Selling, general and administrative expenses | 141,827 | 123,373 | 92,938 |
Amortization of intangible assets | 30,075 | 26,933 | 27,427 |
Income from operations | 109,034 | 95,464 | 86,836 |
Loss on extinguishment of debt | -63,682 | ' | ' |
Gain from foreign currency transactions | ' | ' | 835 |
Interest income | 85 | 152 | 824 |
Interest expense | -40,626 | -83,864 | -82,908 |
Income before income taxes | 4,811 | 11,752 | 5,587 |
Income tax benefit (expense) | 7,533 | -3,243 | -825 |
Net income | 12,344 | 8,509 | 4,762 |
Net (loss) income attributable to non-controlling interest | -279 | 347 | 3 |
Allocation of net (loss) income to common stockholders-basic and diluted | 12,623 | 8,162 | 4,759 |
Accretion of Class L preference | ' | 84,647 | 72,842 |
Net income (loss) available to common shareholders | 12,623 | -76,485 | -68,083 |
Common Stock Class L [Member] | ' | ' | ' |
Allocation of net (loss) income to common stockholders-basic and diluted | ' | 79,211 | 71,568 |
Earnings (loss) per share: | ' | ' | ' |
Basic and diluted | ' | $59.73 | $54.33 |
Weighted average number of common shares outstanding: | ' | ' | ' |
Basic and diluted | ' | 1,326,206 | 1,317,273 |
Common Stock [Member] | ' | ' | ' |
Allocation of net (loss) income to common stockholders-basic and diluted | 12,623 | -76,485 | -68,083 |
Earnings (loss) per share: | ' | ' | ' |
Common stock-basic | $0.20 | ($12.62) | ($11.32) |
Common stock-diluted | $0.20 | ($12.62) | ($11.32) |
Weighted average number of common shares outstanding: | ' | ' | ' |
Common stock-basic | 62,659,264 | 6,058,512 | 6,016,733 |
Common stock-diluted | 64,509,036 | 6,058,512 | 6,016,733 |
Nonvested [Member] | Common Stock Class L [Member] | ' | ' | ' |
Accretion of Class L preference | ' | 79,211 | 71,568 |
Vested [Member] | Common Stock Class L [Member] | ' | ' | ' |
Accretion of Class L preference | ' | $5,436 | $1,274 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $12,344 | $8,509 | $4,762 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation adjustments | 10,589 | 5,591 | -5,343 |
Total other comprehensive income (loss) | 10,589 | 5,591 | -5,343 |
Comprehensive income (loss) | 22,933 | 14,100 | -581 |
Less: Comprehensive income (loss) attributable to non-controlling interest | 78 | 593 | -1,536 |
Comprehensive income attributable to Bright Horizons Family Solutions Inc. | 22,855 | 13,507 | 955 |
Accretion of Class L preference | ' | 84,647 | 72,842 |
Comprehensive income (loss) attributable to common shareholders | 22,855 | -71,140 | -71,887 |
Common Stock Class L [Member] | Nonvested [Member] | ' | ' | ' |
Other comprehensive income (loss): | ' | ' | ' |
Accretion of Class L preference | ' | 79,211 | 71,568 |
Common Stock Class L [Member] | Vested [Member] | ' | ' | ' |
Other comprehensive income (loss): | ' | ' | ' |
Accretion of Class L preference | ' | $5,436 | $1,274 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (USD $) | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Treasury Stock, at Cost [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2010 | ($135,333) | $6 | $125,740 | ($125) | ($10,357) | ($250,597) |
Balance (shares) at Dec. 31, 2010 | ' | 6,021,984 | ' | ' | ' | ' |
Stock-based compensation | 1,158 | ' | 1,158 | ' | ' | ' |
Exercise of stock options | 12 | ' | 12 | ' | ' | ' |
Exercise of stock options (shares) | ' | 2,411 | ' | ' | ' | ' |
Tax benefit from stock option exercises | 22 | ' | 22 | ' | ' | ' |
Translation adjustments, net of non-controlling interest | -3,804 | ' | ' | ' | -3,804 | ' |
Accretion of Class L preference | -72,842 | ' | ' | ' | ' | -72,842 |
Net income attributable to Bright Horizons Family Solutions Inc. | 4,759 | ' | ' | ' | ' | 4,759 |
Balance at Dec. 31, 2011 | -206,028 | 6 | 126,932 | -125 | -14,161 | -318,680 |
Balance (shares) at Dec. 31, 2011 | ' | 6,024,395 | ' | ' | ' | ' |
Stock-based compensation | 17,596 | ' | 17,596 | ' | ' | ' |
Exercise of stock options | 440 | ' | 440 | ' | ' | ' |
Exercise of stock options (shares) | ' | 86,066 | ' | ' | ' | ' |
Tax benefit from stock option exercises | 874 | ' | 874 | ' | ' | ' |
Purchase of treasury stock | -497 | ' | ' | -497 | ' | ' |
Acquisition of additional non-controlling interest | 4,162 | ' | 4,868 | ' | -706 | ' |
Retirement of treasury stock | ' | ' | -622 | 622 | ' | ' |
Retirement of treasury stock (shares) | ' | -47,808 | ' | ' | ' | ' |
Translation adjustments, net of non-controlling interest | 6,051 | ' | ' | ' | 6,051 | ' |
Accretion of Class L preference | -84,647 | ' | ' | ' | ' | -84,647 |
Net income attributable to Bright Horizons Family Solutions Inc. | 8,162 | ' | ' | ' | ' | 8,162 |
Balance at Dec. 31, 2012 | -253,887 | 6 | 150,088 | ' | -8,816 | -395,165 |
Balance (shares) at Dec. 31, 2012 | ' | 6,062,653 | ' | ' | ' | ' |
Conversion of Class L common stock | 854,101 | 47 | 854,054 | ' | ' | ' |
Conversion of Class L common stock (shares) | ' | 46,708,466 | ' | ' | ' | ' |
Initial public offering, net of offering costs of $20.6 million | 234,944 | 12 | 234,932 | ' | ' | ' |
Initial public offering, net of offering costs of $20.6 million (shares) | ' | 11,615,000 | ' | ' | ' | ' |
Stock-based compensation | 10,692 | ' | 10,692 | ' | ' | ' |
Exercise of stock options | 11,040 | ' | 11,040 | ' | ' | ' |
Exercise of stock options (shares) | ' | 916,695 | ' | ' | ' | ' |
Tax benefit from stock option exercises | 5,101 | ' | 5,101 | ' | ' | ' |
Acquisition of remaining non-controlling interest | 4,066 | ' | 4,291 | ' | -225 | ' |
Translation adjustments, net of non-controlling interest | 10,457 | ' | ' | ' | 10,457 | ' |
Net income attributable to Bright Horizons Family Solutions Inc. | 12,623 | ' | ' | ' | ' | 12,623 |
Balance at Dec. 31, 2013 | $889,137 | $65 | $1,270,198 | ' | $1,416 | ($382,542) |
Balance (shares) at Dec. 31, 2013 | ' | 65,302,814 | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Initial Public offering, net of offering costs | $20,600,000 | ' | ' |
Translation adjustments, attributable to non-controlling interest | 357,000 | 246,000 | 1,539,000 |
Common Stock [Member] | ' | ' | ' |
Initial Public offering, net of offering costs | 20,600,000 | ' | ' |
Additional Paid In Capital [Member] | ' | ' | ' |
Initial Public offering, net of offering costs | 20,600,000 | ' | ' |
Accumulated Other Comprehensive Loss [Member] | ' | ' | ' |
Translation adjustments, attributable to non-controlling interest | $357,000 | $246,000 | $1,539,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $12,344 | $8,509 | $4,762 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 72,808 | 61,348 | 55,451 |
Loss on extinguishment of debt | 63,682 | ' | ' |
Amortization of original issue discount and deferred financing costs | 2,763 | 6,783 | 6,330 |
Interest paid in kind | 2,143 | 23,754 | 20,902 |
Change in the fair value of the interest rate cap | ' | 67 | 641 |
Gain on foreign currency transactions | ' | ' | -835 |
Non-cash revenue and other | -618 | -319 | -342 |
Impairment losses on long-lived assets | 765 | 694 | 1,262 |
Loss (gain) on disposal of fixed assets | 566 | 437 | -636 |
Stock-based compensation | 10,692 | 17,596 | 1,158 |
Deferred income taxes | -13,410 | -12,045 | -5,872 |
Changes in assets and liabilities: | ' | ' | ' |
Accounts receivable | -11,458 | -1,580 | -1,487 |
Prepaid expenses and other current assets | -5,393 | -4,110 | 259 |
Income taxes | -13,386 | -218 | 27,321 |
Accounts payable and accrued expenses | 365 | 1,155 | 13,303 |
Deferred revenue | 22,350 | -1,694 | 7,937 |
Deferred rent and related obligations | 5,165 | 6,273 | 2,968 |
Other assets | 149 | -2,180 | 614 |
Other current and long-term liabilities | 10,152 | 2,512 | -166 |
Net cash provided by operating activities | 159,679 | 106,982 | 133,570 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Purchases of fixed assets | -69,509 | -69,086 | -42,517 |
Proceeds from the disposal of fixed assets | 189 | 21 | 4,851 |
Purchase of long-term investments | -2,000 | ' | ' |
Payments for acquisitions-net of cash acquired | -129,812 | -111,825 | -57,326 |
Net cash used in investing activities | -201,132 | -180,890 | -94,992 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Borrowings of long-term debt, net of issuance costs of $20.6 million in 2013 and $2.7 million in 2012 | 769,360 | 82,321 | ' |
Extinguishment of long-term debt | -972,468 | ' | ' |
Proceeds from initial public offering | 234,944 | ' | ' |
Borrowings under revolving line of credit | 140,800 | ' | ' |
Payments of revolving line of credit | -140,800 | ' | -18,500 |
Principal payments of long-term debt | -7,900 | -5,472 | -4,933 |
Purchase of non-controlling interest | -4,138 | ' | ' |
Purchase of treasury stock | ' | -5,140 | ' |
Proceeds from issuance of common stock and Class L common stock upon exercise of options | 11,040 | 2,115 | 59 |
Tax benefit from stock-based compensation | 5,923 | 3,381 | 93 |
Net cash provided by (used in) financing activities | 36,761 | 77,205 | -23,281 |
Effect of exchange rates on cash and cash equivalents | 168 | 364 | -287 |
Net (decrease) increase in cash and cash equivalents | -4,524 | 3,661 | 15,010 |
Cash and cash equivalents-beginning of period | 34,109 | 30,448 | 15,438 |
Cash and cash equivalents-end of period | 29,585 | 34,109 | 30,448 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' | ' |
Cash payments of interest | 34,928 | 51,974 | 54,706 |
Cash payments of taxes | 13,931 | 12,823 | 3,062 |
Non-cash accretion of Class L common stock preferred return | ' | 84,647 | 72,842 |
Non-cash conversion of Class L common stock | $854,101 | ' | ' |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Cash Flows [Abstract] | ' | ' |
Borrowings of long-term debt, deferred financing costs and original issuance discount | $20.60 | $2.70 |
Initial Public Offering, Net of Issuance Costs | $20.60 | ' |
Organization_and_Significant_A
Organization and Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Organization and Significant Accounting Policies | ' | ||||||||||||
1 | ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Organization—Bright Horizons Family Solutions Inc. (“Bright Horizons” or the “Company”) provides workplace services for employers and families throughout the United States and the United Kingdom, and also in Puerto Rico, Canada, Ireland, the Netherlands, and India. Workplace services include center-based child care, education and enrichment programs, elementary school education, back-up dependent care (for children and elders), before and after school care, college preparation and admissions counseling, tuition reimbursement program management, and other family support services. | |||||||||||||
The Company provides its center-based child care services under two general business models: a profit and loss (“P&L”) model, where the Company assumes the financial risk of operating a child care center; and a cost-plus model, where the Company is paid a fee by an employer client for managing a child care center on a cost-plus basis. The P&L model is further classified into two subcategories: (i) a sponsor model, where Bright Horizons provides child care and early education services on either an exclusive or priority enrollment basis for the employees of a specific employer sponsor; and (ii) a lease/consortium model, where the Company provides child care and early education services to the employees of multiple employers located within a specific real estate development (for example, an office building or office park), as well as to families in the surrounding community. In both our cost-plus and sponsor P&L models, the development of a new child care center, as well as ongoing maintenance and repair, is typically funded by an employer sponsor with whom the Company enters into a multi-year contractual relationship. In addition, employer sponsors typically provide subsidies for the ongoing provision of child care services for their employees. Under each model type, the Company retains responsibility for all aspects of operating the child care and early education center, including the hiring and paying of employees, contracting with vendors, purchasing supplies, and collecting tuition and related accounts receivable. | |||||||||||||
The Company also provides back-up dependent care services through our own centers and through our Back-Up Care Advantage (“BUCA”) program, which offers access to a contracted network of in-home care agencies and center-based providers in locations where we do not otherwise have centers with available capacity. | |||||||||||||
Basis of Presentation—Bright Horizons is majority-owned by investment funds affiliated with Bain Capital Partners, LLC as a result of a transaction in 2008 (the “Merger”), pursuant to which a wholly owned merger subsidiary was merged with and into Bright Horizons Family Solutions, Inc. (the “Predecessor”). As part of the transaction, a new basis of accounting was established and the purchase price was allocated to the assets acquired and liabilities assumed based on their fair values. In July 2012, Bright Horizons Family Solutions Inc. changed its name from Bright Horizons Solutions Corp. | |||||||||||||
Public Offering—On January 30, 2013, the Company completed an initial public offering (“the Offering”) and, after the exercise of the underwriters’ overallotment option on February 21, 2013, issued a total of 11.6 million shares of common stock in exchange for $233.3 million, net of offering costs including $1.6 million expensed in 2012. The Company used the proceeds of the Offering, as well as certain amounts from the 2013 refinancing discussed below, to repay the principal and accumulated interest under its senior notes outstanding on January 30, 2013. | |||||||||||||
On January 11, 2013, the Company effected a 1–for–1.9704 reverse split of its Class A common stock. All previously reported Class A per share and Class A share amounts in the accompanying financial statements and related notes have been retroactively adjusted to reflect the reverse stock split. | |||||||||||||
In addition, on January 11, 2013, the Company converted each share of its Class L common stock into 35.1955 shares of Class A common stock, and, immediately following the conversion of its Class L common stock, reclassified the Class A common stock into common stock, for which 475 million shares were authorized. The Company also authorized 25 million shares of undesignated preferred stock for issuance. | |||||||||||||
On June 19, 2013, certain of the Company’s shareholders completed the sale of 9.8 million shares of the Company’s common stock in a secondary offering (“the Secondary”). The Company did not receive proceeds from the sale of shares in the Secondary. The Company incurred $0.6 million in offering costs related to the Secondary, which are included in selling, general and administrative expenses. | |||||||||||||
Debt Refinancing—On January 30, 2013, the Company entered into new $890.0 million senior secured credit facilities to refinance all of the existing indebtedness under the senior credit facilities and the senior subordinated notes and to reflect modifications to certain provisions of the senior credit facilities. Significant terms of the refinancing are discussed in Note 9, “Credit Arrangements and Debt Obligations.” | |||||||||||||
Principles of Consolidation—The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||
Use of Estimates—The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company’s significant accounting policies in the preparation of the consolidated financial statements relate to goodwill and other intangibles, income taxes and common stock valuation and stock-based compensation. Actual results may differ from management’s estimates. | |||||||||||||
Foreign Operations—The functional currency of the Company’s foreign subsidiaries is their local currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for subsidiaries using a functional currency other than the U.S. dollar is included in accumulated other comprehensive income or loss as a separate component of stockholders’ equity. | |||||||||||||
The Company’s intercompany accounts are denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in accumulated other comprehensive income or loss as a separate component of stockholders’ equity, while gains and losses resulting from the remeasurement of intercompany receivables from those foreign subsidiaries for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statement of operations. The net gains and losses recorded in the consolidated statements of operations for the years ended December 31, 2013 and 2012 were not significant. The Company recorded a net foreign currency gain of $0.8 million in the consolidated statement of operations for the year ended December 31, 2011 as a result of the settlement of an intercompany note during the year. | |||||||||||||
Fair Value of Financial Instruments—The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date and applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The Company uses observable inputs where relevant and whenever possible. | |||||||||||||
Level 1—Quoted prices are available in active markets for identical investments as of the reporting date. | |||||||||||||
Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. | |||||||||||||
Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. | |||||||||||||
The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and long-term debt. The fair value of the Company’s financial instruments approximates their carrying value. As of December 31, 2013, the Company’s long-term debt had a carrying value of $782.1 million and a fair value of $784.1 million based on quoted market prices for similar instruments and a model that considers observable inputs (level 2 inputs). | |||||||||||||
Concentrations of Credit Risk—Financial instruments that potentially expose the Company to concentrations of credit risk consist mainly of cash and cash equivalents and accounts receivable. The Company mitigates its exposure by maintaining its cash and cash equivalents in financial institutions of high credit standing. The Company’s accounts receivable, which are derived primarily from the services it provides, are dispersed across many clients in various industries with no single client accounting for more than 10% of the Company’s net revenue or accounts receivable. The Company believes that no significant credit risk exists at December 31, 2013 and 2012. | |||||||||||||
Cash and Cash Equivalents—The Company considers all highly liquid investments with maturities, when purchased, of three months or less to be cash equivalents. Cash equivalents consist primarily of institutional money market accounts. There were no cash equivalent investments at December 31, 2013 and 2012. | |||||||||||||
The Company’s cash management system provides for the funding of the main bank disbursement accounts on a daily basis as checks are presented for payment. Under this system, outstanding checks may be in excess of the cash balances at certain banks, creating book overdrafts. There were no book overdrafts at December 31, 2013 and 2012. | |||||||||||||
Accounts Receivable—The Company generates accounts receivable from fees charged to parents and employer sponsors and, to a lesser degree, government agencies. The Company monitors collections and payments and maintains a provision for estimated losses based on historical trends, in addition to provisions established for specific collection issues that have been identified. Accounts receivable are stated net of this allowance for doubtful accounts. | |||||||||||||
Activity in the allowance for doubtful accounts is as follows (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 1,627 | $ | 1,514 | $ | 1,691 | |||||||
Provision | 437 | 734 | 1,043 | ||||||||||
Write offs and recoveries | (891 | ) | (621 | ) | (1,220 | ) | |||||||
Ending balance | $ | 1,173 | $ | 1,627 | $ | 1,514 | |||||||
Fixed Assets—Property and equipment, including leasehold improvements, are carried at cost less accumulated depreciation or amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The cost and accumulated depreciation of assets sold or otherwise disposed of are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statements of operations. | |||||||||||||
Expenditures for maintenance and repairs are expensed as incurred, whereas expenditures for improvements and replacements are capitalized. Depreciation is included in cost of services and selling, general and administrative expenses depending on the nature of the expenditure. | |||||||||||||
Business Combinations—Business combinations are accounted for at fair value. Acquisition costs are expensed as incurred and recorded in selling, general and administrative expenses; restructuring costs associated with a business combination are expensed subsequent to the acquisition date; and changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date affect income tax expense. The accounting for business combinations requires estimates and judgment as to expectations for future cash flows of the acquired business, the allocation of those cash flows to identifiable intangible assets, and in determining the estimated fair value for assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. If the actual results differ from these estimates, the amounts recorded in the financial statements could result in a possible impairment of the intangible assets and goodwill, or require acceleration of the amortization expense of finite-lived intangible assets. | |||||||||||||
Goodwill and Intangible Assets—Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The Company’s intangible assets principally consist of various customer relationships and trade names. | |||||||||||||
Goodwill and intangible assets with indefinite lives are not subject to amortization, but are tested annually for impairment or more frequently if there are indicators of impairment. The Company tests goodwill for impairment by comparing the fair value of each reporting unit to its carrying value. The Company performs its annual impairment test as of December 31. The first step of the goodwill impairment test compares the fair value of the reporting unit with its carrying amount, including goodwill. Fair value for each reporting unit is determined by estimating the present value of expected future cash flows, which are forecasted for each of the next ten years, applying a long-term growth rate to the final year, discounted using the Company’s estimated discount rate. If the fair value of the Company’s reporting unit exceeds its carrying amount, the goodwill of the reporting unit is considered not impaired. If the carrying amount of the Company’s reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test, used to measure the amount of impairment loss, compares the implied fair value of the affected reporting unit’s goodwill with the carrying value of that goodwill. No goodwill impairment losses were recorded in the years ended December 31, 2013, 2012, or 2011. | |||||||||||||
We test certain trademarks that are included in our indefinite-lived intangible assets, by comparing the fair value of the trademarks with their carrying value. We estimate the fair value first by estimating the total revenue attributable to the trademarks and then by applying a royalty rate determined by an analysis of empirical, market-derived royalty rates for guideline intangible assets, consistent with the initial valuation and then comparing the estimated fair value of our trademarks with the carrying value. This approach takes into effect level 3 and unobservable inputs. No impairment losses were recorded in the year ended December 31, 2013 in relation to intangible assets. Impairment losses of $0.4 million were recorded in each of the years ended December 31, 2012 and 2011 in relation to certain trade names with indefinite lives in the other educational advisory services segment, which have been included in selling, general and administrative expenses. | |||||||||||||
Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and are amortized over the estimated period benefited, ranging from one to seventeen years. Intangible assets related to parent relationships are amortized using the double declining balance method over their useful lives. All other intangible assets are amortized on a straight line basis over their useful lives. | |||||||||||||
Impairment of Long-Lived Assets—The Company reviews long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is assessed by comparing the carrying amount of the asset to the estimated undiscounted future cash flows over the asset’s remaining life. If the estimated cash flows are less than the carrying amount of the asset, an impairment loss is recognized to reduce the carrying amount of the asset to its estimated fair value less any disposal costs. Fair value can be determined using discounted cash flows and quoted market prices based on level 3 inputs. The Company recorded fixed asset impairment losses of $0.8 million, $0.3 million and $0.8 million in the years ended December 31, 2013, 2012 and 2011, respectively, which have been included in cost of services. | |||||||||||||
Other Long Term Assets—Other long term assets includes a cost basis investment of $2 million, which we review for impairment whenever events or changes in circumstances indicate that the carrying amount of such asset may not be recoverable. | |||||||||||||
Deferred Revenue—The Company records deferred revenue for prepaid tuition and management fees and amounts received from consulting projects in advance of services being performed. The Company is also a party to agreements where the performance of services extends beyond the current operating cycle. In these circumstances, the Company records a long-term obligation and recognizes revenue over the period of the agreement as the services are rendered. | |||||||||||||
Leases and Deferred Rent—The Company leases space for certain of its centers and corporate offices. Leases are evaluated and classified as operating or capital for financial reporting purposes. The Company recognizes rent expense from operating leases with periods of free rent, tenant allowances and scheduled rent increases on a straight-line basis over the applicable lease term. The difference between rents paid and straight-line rent expense is recorded as deferred rent. | |||||||||||||
Discount on Long-Term Debt—Original issue discounts on the Company’s debt are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization expense is included in interest expense in the consolidated statements of operations. | |||||||||||||
Deferred Financing Costs—Deferred financing costs are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization of this expense is included in interest expense in the consolidated statements of operations. | |||||||||||||
Other Long-Term Liabilities—Other long-term liabilities consist primarily of amounts payable to clients, pursuant to terms of operating agreements or for deposits held by the Company, and obligations for uncertain tax positions. | |||||||||||||
Income Taxes—The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for tax carryforwards, such as net operating losses. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the provision for income taxes in the period that includes the enactment date. The Company records a valuation allowance to reduce the carrying amount of deferred tax assets if it is more likely than not that such asset will not be realized. Additional income tax expense is recognized as a result of recording valuation allowances. The Company does not recognize a tax benefit on losses in foreign operations where it does not have a history of profitability. The Company records penalties and interest on income tax related items as a component of tax expense. | |||||||||||||
Obligations for uncertain tax positions are recorded based on an assessment of whether the position is more likely than not to be sustained by the taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. | |||||||||||||
Non-controlling Interest—The Company recorded the redeemable non-controlling ownership interest of a company in the Netherlands at fair value at the date of its initial acquisition. The difference between the acquisition price and carrying value of the redeemable non-controlling interest of any additional interest acquired is recorded as an adjustment to additional paid in capital. Any accumulated other comprehensive income or loss associated with the additional acquired interest is recorded as other comprehensive income or loss of the Company. | |||||||||||||
In connection with the initial acquisition, the Company entered into put and call option agreements with the minority shareholders for the purchase of the non-controlling interest based on a contractually determined formula. As a result of the option agreements, the non-controlling interest is considered redeemable and is classified as temporary equity on the Company’s consolidated balance sheet. At December 31, 2013 and as further discussed in Note 10, “Redeemable Non-controlling Interest”, the Company has acquired 100% of the interest in the company. | |||||||||||||
Revenue Recognition—The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the fee is fixed and determinable, and collectability is reasonably assured. | |||||||||||||
Center-based care revenues consist primarily of tuition, which consists of amounts paid by parents, supplemented in some cases by payments from employer sponsors and, to a lesser extent, by payments from government agencies. Revenue may also include management fees, operating subsidies paid either in lieu of or to supplement parent tuition, and fees for other services. Revenue for center-based care is recognized as the services are performed. | |||||||||||||
The Company enters into contracts with its employer sponsors to manage and operate their child care and early education centers and/or for the provision of back-up dependent care and other educational advisory services under various terms. The Company’s contracts to operate child care and early education centers are generally three to ten years in length with varying renewal options. The Company’s contracts for back-up dependent care and other educational advisory services are generally one to three years in length with varying renewal options. Revenue for these services is recognized as they are performed. | |||||||||||||
Common Stock Valuation and Stock-Based Compensation—The Company accounts for stock-based compensation using a fair value method. Stock-based compensation expense is recognized in the consolidated financial statements based on the grant-date fair value of the awards that are expected to vest. This expense is recognized on a straight-line basis over the requisite service period, which generally represents the vesting period, of each separately vesting tranche. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model. | |||||||||||||
The key assumption in determining the fair value of stock-based awards on the date of grant is the fair value of the underlying Class L common stock and common stock (collectively referred to herein as “common stock”). The fair value of the underlying common stock prior to the completion the Offering was determined using valuation models that rely primarily on a discounted cash flow approach to determine the enterprise value and the probability weighted expected return method to allocate the value of the invested capital to the two classes of stock. | |||||||||||||
Comprehensive Income or Loss—Comprehensive income or loss is comprised of net income or loss and foreign currency translation adjustments. The Company does not provide for U.S. income taxes on the portion of undistributed earnings of foreign subsidiaries that are intended to be permanently reinvested. Therefore, taxes are not provided for the related currency translation adjustments. | |||||||||||||
Earnings or Loss Per Share—Net earnings or loss per share is calculated using the two-class method, which is an earnings allocation formula that determines net income or loss per share for the holders of the Company’s common stock and the holders of Class L common stock. The Class L shares contained participation rights in any dividend paid by the Company or upon liquidation of the Company and were entitled to a minimum preferred return of 10% per annum, compounded quarterly. Net income available to common shareholders includes the effects of any Class L preference amounts. Net income available to shareholders is allocated on a pro rata basis to each share as if all of the earnings for the period had been distributed. Diluted net income or loss per share is calculated using the treasury stock method for all outstanding stock options and the as-converted method for the Class L shares. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||
Acquisitions | ' | ||||||||||||
2 | ACQUISITIONS | ||||||||||||
As part of the Company’s growth strategy to expand through strategic and synergistic acquisitions, the Company has made the following acquisitions in the years ended December 31, 2013, 2012, and 2011. The goodwill resulting from these acquisitions arises largely from synergies expected from combining the operations of the businesses acquired with our existing operations, as well as from benefits derived from the assembled workforce acquired. | |||||||||||||
2013 Acquisitions | |||||||||||||
Children’s Choice Learning Centers, Inc. | |||||||||||||
On July 22, 2013, the Company acquired all of the outstanding shares of Children’s Choice Learning Centers, Inc., an operator of 49 employer-sponsored child care centers throughout the United States, for cash consideration of $51.6 million, inclusive of certain adjustments. The purchase price was financed with available cash on hand and funds available under the Company’s revolving credit facility, which were repaid in the fourth quarter of 2013. The Company has incurred acquisition costs of approximately $1.7 million through December 31, 2013, which are included in selling, general and administrative expenses. | |||||||||||||
The purchase price for this acquisition has been allocated based on estimates of the fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands): | |||||||||||||
At acquisition date | Measurement | At acquisition date | |||||||||||
As reported | period adjustments | As reported | |||||||||||
September 30, 2013 | December 31, 2013 | ||||||||||||
Accounts receivable | $ | 981 | $ | (126 | ) | $ | 855 | ||||||
Prepaid expenses and other assets | 334 | 411 | 745 | ||||||||||
Fixed assets | 5,637 | 535 | 6,172 | ||||||||||
Intangible assets | 12,800 | (1,190 | ) | 11,610 | |||||||||
Goodwill | 38,818 | (1,848 | ) | 36,970 | |||||||||
Total assets acquired | 58,570 | (2,218 | ) | 56,352 | |||||||||
Accounts payable and accrued expenses | (3,441 | ) | (401 | ) | (3,842 | ) | |||||||
Deferred revenue and parent deposits | (885 | ) | 18 | (867 | ) | ||||||||
Total liabilities assumed | (4,326 | ) | (383 | ) | (4,709 | ) | |||||||
Purchase price | $ | 54,244 | $ | (2,601 | ) | $ | 51,643 | ||||||
The allocation of the purchase price consideration is based on preliminary estimates of fair value; such estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date) as the Company gathers additional information regarding the assets acquired and liabilities assumed, for the final settlement of the purchase price. During the fourth quarter of 2013, the Company recorded an estimate of the adjustment to the purchase price for the final settlement of working capital as a reduction to the purchase price and goodwill of $2.6 million with the corresponding amounts due recorded in other current assets. | |||||||||||||
The Company recorded goodwill of $37.0 million, which will be deductible for tax purposes as permitted under federal tax rules. Goodwill related to this acquisition is reported within the full service center-based care segment. | |||||||||||||
Intangible assets consist primarily of $11.3 million of customer relationships that will be amortized over approximately eleven years. | |||||||||||||
Kidsunlimited Group Limited | |||||||||||||
On April 10, 2013, the Company entered into a share purchase agreement with Lloyds Development Capital (Holdings) Limited and Kidsunlimited Group Limited pursuant to which it acquired 100% of Kidsunlimited, an operator of 64 nurseries throughout the United Kingdom, for cash consideration of $68.9 million, subject to certain adjustments. The purchase price was financed with available cash on hand. The Company has incurred acquisition costs of approximately $1.9 million through December 31, 2013, which are included in selling, general and administrative expenses. | |||||||||||||
The purchase price for this acquisition has been allocated based on estimates of the fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands): | |||||||||||||
At acquisition date | Measurement | At acquisition date | |||||||||||
As reported | period | As reported | |||||||||||
June 30, 2013 | adjustments | December 31, 2013 | |||||||||||
Cash | $ | 4,888 | $ | — | $ | 4,888 | |||||||
Accounts receivable | 1,809 | — | 1,809 | ||||||||||
Prepaid expenses and other assets | 2,509 | — | 2,509 | ||||||||||
Fixed assets | 13,901 | (192 | ) | 13,709 | |||||||||
Favorable leases | — | 2,509 | 2,509 | ||||||||||
Intangible assets | 17,442 | 1,071 | 18,513 | ||||||||||
Goodwill | 55,349 | (2,678 | ) | 52,671 | |||||||||
Total assets acquired | 95,898 | 710 | 96,608 | ||||||||||
Accounts payable and accrued expenses | (9,450 | ) | 3,798 | (5,652 | ) | ||||||||
Unfavorable leases | (1,759 | ) | (4,942 | ) | (6,701 | ) | |||||||
Deferred revenue | (12,853 | ) | 8,378 | (4,475 | ) | ||||||||
Other current liabilities | — | (8,378 | ) | (8,378 | ) | ||||||||
Deferred taxes | (2,735 | ) | 245 | (2,490 | ) | ||||||||
Total liabilities assumed | (26,797 | ) | (899 | ) | (27,696 | ) | |||||||
Purchase price | $ | 69,101 | $ | (189 | ) | $ | 68,912 | ||||||
The allocation of the purchase price consideration is based on preliminary estimates of fair value; such estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date) as the Company gathers additional information regarding the intangible assets acquired. | |||||||||||||
The Company recorded goodwill of $52.7 million, which will not be deductible for tax purposes. Goodwill related to this acquisition is reported within the full service center-based care segment. | |||||||||||||
Intangible assets consist primarily of $16.2 million of customer relationships that will be amortized over approximately eight years. A deferred tax liability of $4.0 million was recorded related to the intangible assets for which the amortization is not deductible for tax purposes. | |||||||||||||
Other Acquisitions | |||||||||||||
During the year ended December 31, 2013, the Company also acquired two businesses for aggregate cash consideration of $6.9 million, net of cash acquired of $2.7 million. The Company recorded goodwill of $4.5 million, of which $3.2 million relates to the other educational advisory services segment and $1.3 million relates to the full service center-based care segment. Goodwill will not be deductible for tax purposes. Intangible assets of $3.3 million, consisting of customer relationships and trade names, fixed assets of $1.9 million, and working capital of $1.3 million were also recorded in relation to these acquisitions. | |||||||||||||
Pro Forma Information | |||||||||||||
The operating results for each of the acquisitions are included in the consolidated results of operations from the respective dates of acquisition. The following table presents consolidated pro forma information as if the acquisitions of Children’s Choice Learning Centers, Inc. and Kidsunlimited had occurred on January 1, 2012 (in thousands): | |||||||||||||
Pro forma (Unaudited) | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Revenue | $ | 1,260,453 | $ | 1,179,168 | |||||||||
Net income attributable to Bright Horizons Family Solutions Inc. | $ | 16,226 | $ | 4,504 | |||||||||
The unaudited pro forma results reflect certain adjustments related to the acquisitions, such as increased amortization expense related to the acquired intangible assets. The pro forma results for the year ended December 31, 2012 include nonrecurring deal costs that were incurred by the Company and the acquired businesses in relation to the respective acquisitions, totaling $6.2 million, which were excluded from the pro forma results for the year ended December 31, 2013. | |||||||||||||
These acquired business contributed total revenues of $71.6 million in the year ended December 31, 2013. The Company has also determined that the presentation of net income for each of those acquisitions, from the date of acquisition, is impracticable due to the integration of the operations upon acquisition. | |||||||||||||
2012 Acquisitions | |||||||||||||
In May 2012, the Company acquired all of the outstanding shares of Huntyard Limited, a company that operated 27 child care and early education centers in the United Kingdom under the name Casterbridge Early Care and Education, for cash consideration of $110.8 million. | |||||||||||||
The final purchase price for this acquisition has been allocated based on the estimated fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands): | |||||||||||||
Cash | $ | 3,730 | |||||||||||
Accounts receivable | 341 | ||||||||||||
Prepaid expenses and other current assets | 2,880 | ||||||||||||
Fixed assets | 65,843 | ||||||||||||
Intangible assets | 6,004 | ||||||||||||
Goodwill | 48,715 | ||||||||||||
Total assets acquired | 127,513 | ||||||||||||
Accounts payable and accrued expenses | (7,520 | ) | |||||||||||
Taxes payable | (656 | ) | |||||||||||
Deferred revenue and parent deposits | (3,006 | ) | |||||||||||
Deferred taxes | (5,570 | ) | |||||||||||
Total liabilities assumed | (16,752 | ) | |||||||||||
Purchase price | $ | 110,761 | |||||||||||
During the fourth quarter of 2013, the Company recorded an adjustment to the purchase accounting which decreased goodwill and increased cash. | |||||||||||||
The Company recorded goodwill of $48.7 million, which will not be deductible for tax purposes. Goodwill related to this acquisition is reported within the full service center-based care segment. | |||||||||||||
Intangible assets consist primarily of $4.7 million of customer relationships that will be amortized over five years. A deferred tax liability of $1.5 million was recorded related to the intangible assets for which the amortization is not deductible for tax purposes. | |||||||||||||
The Company incurred deal costs of $0.5 million related to this acquisition, which are included in selling, general and administrative expenses in 2012. | |||||||||||||
The operating results for this acquisition are included in the consolidated results of operations from the date of acquisition. The following table presents consolidated pro forma information as if the acquisition of Huntyard had occurred on January 1, 2011 (in thousands): | |||||||||||||
Pro forma (Unaudited) | |||||||||||||
Years ended December 31, | |||||||||||||
2012 | 2011 | ||||||||||||
Revenue | $ | 1,088,378 | $ | 1,016,125 | |||||||||
Net income attributable to Bright Horizons Family Solutions Inc. | $ | 10,329 | $ | 4,804 | |||||||||
Huntyard contributed total revenues of $26.3 million in the year ended December 31, 2012. | |||||||||||||
2011 Acquisitions | |||||||||||||
On March 14, 2011, the Company acquired the assets of 20 child care and early education centers in the United States. Additionally, the Company acquired the assets of a child care and early education center in the United States in November 2011 and of a child care and early education center in the United Kingdom in December 2011. The aggregate cash consideration for the acquisitions was $27.6 million, which related primarily to the March 2011 acquisition. The purchase price for these acquisitions has been allocated based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition. | |||||||||||||
The Company acquired total tangible assets of $2.2 million and assumed liabilities of $0.8 million. In conjunction with these acquisitions, the Company recorded goodwill of $23.4 million and other intangible assets of $2.8 million, consisting primarily of customer relationships. The identified intangible assets will be amortized over approximately five years. | |||||||||||||
On July 20, 2011, the Company acquired 63% of a company in the Netherlands that operated 20 child care and early education centers for cash consideration of $29.9 million. As a result, this company became a majority-owned subsidiary of the Company, with its operating results included in the Company’s consolidated results of operations and the 37% of ownership interest retained by the previous owners presented as non-controlling interest on the Company’s consolidated balance sheet. In connection with this transaction, the Company entered into put and call option agreements with the minority shareholders for the purchase of the non-controlling interest at a future date at a value based on a contractually determined formula. As a result of the option agreements, the non-controlling interest was considered redeemable and was classified as temporary equity on the Company’s consolidated balance sheet. In November 2012, the Company purchased 18.5% of the non-controlling interest for $3.9 million, and, in December 2013, the Company purchased the remaining 18.5% non-controlling interest for $4.1 million. See Note 10, “Redeemable Non-controlling Interest”, for additional information on these transactions. | |||||||||||||
The purchase price for this transaction has been allocated based on the estimated fair value of the acquired assets and assumed liabilities at the date of acquisition. The Company acquired total tangible assets of $9.4 million and assumed liabilities of $4.6 million, and recorded non-controlling interest of $17.1 million. Additionally, the Company recorded goodwill of $39.5 million; other intangible assets of $3.4 million, consisting of customer relationships and trade name; and deferred tax liabilities of $0.7 million related to intangible assets subject to amortization that are not deductible for tax purposes. The identified intangible assets will be amortized over periods of four to ten years. | |||||||||||||
The fair value of the assets acquired in business combinations in the year ended December 31, 2011 is as follows (in thousands): | |||||||||||||
Cash paid, net of cash acquired | $ | 57,228 | |||||||||||
Liabilities assumed | 6,159 | ||||||||||||
Non-controlling interest | 17,063 | ||||||||||||
Goodwill recognized | (62,917 | ) | |||||||||||
Fair value of assets acquired | $ | 17,533 | |||||||||||
The goodwill associated with the acquisitions in the United States and the United Kingdom is deductible for tax purposes. The goodwill for the acquisition in the Netherlands is not deductible for tax purposes. The Company incurred deal costs of $1.1 million related to these acquisitions, which have been expensed and are included in selling, general and administrative expenses in the consolidated statements of operations. | |||||||||||||
The operating results of the acquired businesses have been included in the Company’s consolidated results of operations from the respective dates of acquisition. The acquired businesses contributed revenues of $28.0 million for the year ended December 31, 2011. If the acquisitions had occurred on January 1, 2010, the consolidated revenues and net income attributable to Bright Horizons Family Solutions Inc. for the year ended December 31, 2011 would have been approximately $992.2 million and $7.1 million, respectively. |
Prepaid_Expenses_and_Other_Cur
Prepaid Expenses and Other Current Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ||||||||
Prepaid Expenses and Other Current Assets | ' | ||||||||
3 | PREPAID EXPENSES AND OTHER CURRENT ASSETS | ||||||||
Prepaid expenses and other current assets consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Prepaid workers compensation insurance | $ | 10,327 | $ | 9,160 | |||||
Prepaid rent and other occupancy costs | 7,515 | 6,354 | |||||||
Prepaid income taxes | 6,678 | 213 | |||||||
Reimbursable costs | 3,916 | 4,060 | |||||||
Favorable leases | 586 | 386 | |||||||
Prepaid insurance | 1,665 | 1,341 | |||||||
Deferred initial public offering costs | — | 2,189 | |||||||
Other prepaid expenses and current assets | 13,334 | 4,124 | |||||||
$ | 44,021 | $ | 27,827 | ||||||
Under the terms of the Company’s workers compensation policy, the Company is required to make advances to its insurance carrier pertaining to estimated claims for all open plan years. |
Fixed_Assets
Fixed Assets | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Fixed Assets | ' | ||||||||||
4 | FIXED ASSETS | ||||||||||
Fixed assets consist of the following (dollars in thousands): | |||||||||||
Estimated useful lives | December 31, | ||||||||||
2013 | 2012 | ||||||||||
(Years) | |||||||||||
Buildings | 20 – 40 | $ | 128,715 | $ | 116,157 | ||||||
Furniture, equipment and software | 3 – 10 | 125,713 | 92,919 | ||||||||
Leasehold improvements | Shorter of the lease term | 247,972 | 206,328 | ||||||||
or the estimated useful life | |||||||||||
Land | — | 52,233 | 50,882 | ||||||||
Total fixed assets | 554,633 | 466,286 | |||||||||
Accumulated depreciation and amortization | (163,739 | ) | (125,910 | ) | |||||||
Fixed assets, net | $ | 390,894 | $ | 340,376 | |||||||
The Company recorded depreciation expense of $42.7 million, $34.4 million and $28.0 million for the years ended December 31, 2013, 2012, and 2011, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
5 | GOODWILL AND INTANGIBLE ASSETS | ||||||||||||||||
The changes in the carrying amount of goodwill are as follows (in thousands): | |||||||||||||||||
Full service | Back-up | Other | Total | ||||||||||||||
center-based | dependent | educational | |||||||||||||||
care | care | advisory | |||||||||||||||
services | |||||||||||||||||
Beginning balance at December 31, 2012 | $ | 817,304 | $ | 159,215 | $ | 20,825 | $ | 997,344 | |||||||||
Additions from acquisitions | 90,299 | — | 3,196 | 93,495 | |||||||||||||
Adjustments to Huntyard acquisition (1) | (857 | ) | — | — | (857 | ) | |||||||||||
Tax benefit from the exercise of continuation options | (674 | ) | (131 | ) | (17 | ) | (822 | ) | |||||||||
Effect of foreign currency translation | 6,062 | 1,061 | — | 7,123 | |||||||||||||
Balance at December 31, 2013 | $ | 912,134 | $ | 160,145 | $ | 24,004 | $ | 1,096,283 | |||||||||
-1 | During the fourth quarter of 2013, the Company recorded an adjustment to the purchase accounting for the Huntyard acquisition which decreased goodwill and increased cash. | ||||||||||||||||
The Company also has intangible assets, which consist of the following at December 31, 2013 and 2012 (in thousands): | |||||||||||||||||
Weighted average | Cost | Accumulated | Net carrying | ||||||||||||||
amortization period | amortization | amount | |||||||||||||||
December 31, 2013: | |||||||||||||||||
Definite-lived intangibles: | |||||||||||||||||
Customer relationships | 14.5 years | $ | 400,481 | $ | (153,939 | ) | $ | 246,542 | |||||||||
Trade names | 8.1 years | 6,072 | (1,542 | ) | 4,530 | ||||||||||||
Non-compete agreements | 5 years | 54 | (39 | ) | 15 | ||||||||||||
406,607 | (155,520 | ) | 251,087 | ||||||||||||||
Indefinite-lived intangibles: | |||||||||||||||||
Trade names | N/A | 183,973 | — | 183,973 | |||||||||||||
$ | 590,580 | $ | (155,520 | ) | $ | 435,060 | |||||||||||
Weighted average | Cost | Accumulated | Net carrying | ||||||||||||||
amortization period | amortization | amount | |||||||||||||||
December 31, 2012: | |||||||||||||||||
Definite-lived intangibles: | |||||||||||||||||
Customer relationships | 14.9 years | $ | 370,527 | $ | (124,048 | ) | $ | 246,479 | |||||||||
Trade names | 9.1 years | 3,147 | (883 | ) | 2,264 | ||||||||||||
Non-compete agreements | 5 years | 54 | (33 | ) | 21 | ||||||||||||
373,728 | (124,964 | ) | 248,764 | ||||||||||||||
Indefinite-lived intangibles: | |||||||||||||||||
Trade names | N/A | 183,816 | — | 183,816 | |||||||||||||
$ | 557,544 | $ | (124,964 | ) | $ | 432,580 | |||||||||||
On an annual basis or if an indicator of impairment exists, indefinite lived trade names are subject to an evaluation of the remaining useful life to determine whether events and circumstances continue to support an indefinite useful life, as well as testing for impairment. | |||||||||||||||||
The Company recorded amortization expense of $30.1 million, $26.9 million and $27.4 million in the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||
The Company estimates that it will record amortization expense related to intangible assets existing as of December 31, 2013 as follows over the next five years (in thousands): | |||||||||||||||||
Estimated | |||||||||||||||||
amortization | |||||||||||||||||
expense | |||||||||||||||||
2014 | $ | 28,756 | |||||||||||||||
2015 | $ | 26,235 | |||||||||||||||
2016 | $ | 25,271 | |||||||||||||||
2017 | $ | 24,589 | |||||||||||||||
2018 | $ | 23,676 | |||||||||||||||
Accounts_Payable_and_Accrued_E
Accounts Payable and Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Expenses | ' | ||||||||
6 | ACCOUNTS PAYABLE AND ACCRUED EXPENSES | ||||||||
Accounts payable and accrued expenses consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Accounts payable | $ | 6,691 | $ | 6,319 | |||||
Accrued payroll and employee benefits | 58,171 | 52,344 | |||||||
Accrued insurance | 15,110 | 13,674 | |||||||
Accrued interest | 1,861 | 1,430 | |||||||
Accrued occupancy costs | 2,167 | 2,336 | |||||||
Accrued professional fees | 1,847 | 2,135 | |||||||
Other accrued expenses | 21,779 | 18,969 | |||||||
$ | 107,626 | $ | 97,207 | ||||||
Other_Current_Liabilities
Other Current Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Other Current Liabilities | ' | ||||||||
7 | OTHER CURRENT LIABILITIES | ||||||||
Other current liabilities consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Customer amounts on deposit | $ | 15,495 | $ | 6,579 | |||||
Deferred rent and other occupancy costs | 2,133 | 2,085 | |||||||
Unfavorable leases | 681 | 475 | |||||||
Income taxes payable | — | 933 | |||||||
Other liabilities | 1,993 | 2,015 | |||||||
$ | 20,302 | $ | 12,087 | ||||||
Other_LongTerm_Liabilities
Other Long-Term Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Other Long-Term Liabilities | ' | ||||||||
8 | OTHER LONG-TERM LIABILITIES | ||||||||
Other long-term liabilities consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Customer amounts on deposit | $ | 8,685 | $ | 8,481 | |||||
Liability for uncertain tax positions | 3,647 | 9,966 | |||||||
Other liabilities | 6,674 | 5,270 | |||||||
$ | 19,006 | $ | 23,717 | ||||||
Credit_Arrangements_and_Debt_O
Credit Arrangements and Debt Obligations | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Credit Arrangements and Debt Obligations | ' | ||||||||
9 | CREDIT ARRANGEMENTS AND DEBT OBLIGATIONS | ||||||||
Long-term debt consists of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Term loans | $ | 782,100 | $ | — | |||||
Tranche B term loans | — | 346,111 | |||||||
Series C term loans | — | 84,363 | |||||||
Senior subordinated notes | — | 300,000 | |||||||
Senior notes | — | 197,810 | |||||||
Original issue discount and deferred financing costs | (17,877 | ) | (21,641 | ) | |||||
Total debt | 764,223 | 906,643 | |||||||
Less current maturities | 7,900 | 2,036 | |||||||
Long-term debt | $ | 756,323 | $ | 904,607 | |||||
Senior Credit Facilities | |||||||||
On January 30, 2013, the Company’s wholly owned subsidiary, Bright Horizons Family Solutions LLC (“BHFS LLC”), entered into a new credit agreement to 1) refinance all of the existing indebtedness under the senior secured credit facilities and the senior subordinated notes and 2) redeem the remaining senior notes in conjunction with proceeds from the Company’s offering. The Company’s new senior secured credit facilities consist of a $790.0 million term loan facility and a $100.0 million revolving credit facility. The term loans and revolving credit facility mature on January 30, 2020 and January 30, 2018, respectively. The term loan facility requires quarterly principal payments of $2.0 million, which commenced March 31, 2013, with the remaining principal balance due on January 30, 2020. | |||||||||
All borrowings under the credit agreement are subject to variable interest rates. Borrowings under the term loan facility bear interest at a rate per annum ranging from 1.75% to 2.0% over the Base Rate or 2.75% to 3.0% over the Eurocurrency Rate defined in the credit agreement. Borrowings under our revolving facility bear interest at a rate per annum equal to 1.75% over the Base Rate or 2.75% over the Eurocurrency Rate. The Base Rate is the highest of (1) the prime rate of Goldman Sachs Bank USA, (2) the federal funds effective rate plus 0.5% and (3) the Eurocurrency Rate with a one month interest period plus 1.0%. The Eurocurrency Rate option is the one, two, three or six month LIBOR rate, as selected by the Borrower, or, with the approval of the applicable lenders, the nine, twelve or less than one month LIBOR rate. The Base Rate is subject to an interest rate floor of 2.0% and the Eurocurrency Rate is subject to an interest rate floor of 1.0%, both only with respect to the term loan facility. In addition, the unused portion of the revolving credit facility is subject to a 0.5% commitment fee per annum. The effective interest rate for the term loans was 4.0% at December 31, 2013 and the weighted average interest rate for the year ended December 31, 2013 was 4.1%. There were no borrowings outstanding on the revolving credit facility at December 31, 2013 with the full facility available for borrowings. The weighted average interest rate for the revolving credit facility was 5.0% for the year ended December 31, 2013. | |||||||||
All obligations under the senior secured credit facilities are secured by substantially all the assets of the Company’s U.S.-based subsidiaries. The senior secure credit facilities contain certain customary affirmative covenants and other covenants that, among other things, may restrict the ability of BHFS LLC, and its restricted subsidiaries, to: incur certain liens; make investments, loans, advances and acquisitions; incur additional indebtedness or guarantees; engage in transactions with affiliates; sell assets, including capital stock of our subsidiaries; alter the business conducted; enter into agreements restricting our subsidiaries’ ability to pay dividends; and, consolidate or merge. | |||||||||
The revolving credit facility requires BHFS LLC and its restricted subsidiaries to comply with a maximum senior secured first lien net leverage ratio financial maintenance covenant, to be tested only if, on the last day of each fiscal quarter, the amount of revolving loans and swingline loans outstanding under the revolving credit facility exceed 25% of the revolving commitments on such date. | |||||||||
On January 30, 2013, the Company redeemed the existing Tranche B and Series C term loans, the senior subordinated notes and the senior notes for $972.5 million, including the redemption premium of $41.1 million. As a result of the redemption, the Company recorded a loss on the extinguishment of debt of $63.7 million, inclusive of redemption premiums and deferred financing costs written off. The Company used the net proceeds of its initial public offering and certain proceeds from the issuance of the $790.0 million senior secured term loan facility to fund the redemption. | |||||||||
The Company incurred financing fees of $12.7 million and original issue discount costs of $7.9 million in connection with this refinance. These fees are being amortized over the terms of the related debt instruments. Amortization expense of deferred financing costs and original issuance discount costs in the year ended December 31, 2013 was $1.7 million and $1.0 million, respectively, which is included in interest expense. | |||||||||
Long-Term Debt in Place at December 31, 2012 Refinanced in 2013 | |||||||||
In 2008, in conjunction with the Merger, BHFS LLC entered into credit agreements consisting of a Credit and Guaranty Agreement (the “Credit Agreement”) in an aggregate principal amount not to exceed $440.0 million and a Note Purchase Agreement and Indenture for the issuance of $300.0 million of senior subordinated notes. In addition, Bright Horizons Capital Corp. (“Capital Corp.”) entered into a Note Purchase Agreement and Indenture for the issuance of $110.0 million of senior notes. The Credit Agreement was amended in July of 2011 and again in May of 2012 to allow for increased flexibility with regards to investments, acquisitions and borrowing limits. The Indentures were amended in July of 2011 to allow for increased flexibility with regards to acquisitions and investments. In May of 2012 BHFS LLC borrowed the full $85.0 million incremental facility available under the Credit Agreement Series C term loans. | |||||||||
Credit and Guaranty Agreement | |||||||||
The Credit and Guaranty Agreement consisted of three facilities: | |||||||||
• | $75 million Revolver—The revolving credit facility had a maturity of May 28, 2014, with any amounts outstanding at that date payable in full. The net proceeds of the borrowings under the revolving credit facility were available for general corporate purposes, including, subject to certain sub-limits and covenant requirements, to fund acquisitions and invest in foreign subsidiaries. At BHFS LLC’s option, advances under the revolving credit facility bear interest at either i) the greater of the Federal Funds Rate plus 0.5% or Prime (the Base Rate) plus a spread based on BHFS LLC’s leverage ratio, or ii) LIBOR (the Eurodollar Rate) plus a spread based on BHFS LLC’s leverage ratio. Commitment fees on the unused portion of the line were payable at a rate ranging from 0.375% to 0.5% per annum based on BHFS LLC’s leverage ratio. No amounts were outstanding at December 31, 2012 under the revolving credit facility. The weighted average interest rate for the year ended December 31, 2011 was 5.5%. There were no borrowings during the year ended December 31, 2012. | ||||||||
• | $365 million Tranche B Term Loans—The total available amount of $365.0 million in aggregate principal was borrowed in 2008 as of the date of the Merger. Principal repayments of $912,500 were due quarterly and commenced September 30, 2008, with the final payment due on May 28, 2015. As a result of the calculation of Consolidated Excess Cash Flow for 2010, the Company prepaid $4.9 million of principal in March 2011, satisfying all four quarterly principal payments required in 2011 and a portion of the payments required in 2012. As a result of the calculation of Consolidated Excess Cash Flow for 2011, the Company prepaid $4.8 million of principal in March 2012, satisfying the remaining quarterly principal payments required in 2012 and a portion of the payments required in 2013. At BHFS LLC’s option, the term loans bear interest at either i) the greater of the Federal Funds Rate plus 0.5% or Prime (the Base Rate) plus 3.0%, or ii) LIBOR (the Eurodollar Rate) plus 4.0%. Prior to May 28, 2011, the third anniversary of the agreement, both the Base Rate and Eurodollar Rate were subject to floors of 4.5% and 3.5%, respectively. At December 31, 2012, $346.1 million was outstanding in term loans. The interest rate on the outstanding term loans was 4.2% at December 31, 2012. The weighted average interest rate for the years ended December 31, 2011 and 2012 was 5.6% and 4.3%, respectively. In 2009, BHFS LLC entered into an interest rate cap agreement with a bank to hedge changes in LIBOR over the term of the agreement such that the maximum interest BHFS LLC would be subject to would be 7.0% plus the spread of 4.0%. The agreement expires June 30, 2014. The interest rate cap is carried at fair value and is included in other assets on the consolidated balance sheets. The interest rate cap, which had an original cost of $1.0 million, had a fair value of less than $0.1 million at December 31, 2012. Changes in the fair value of the interest rate cap were recorded in interest expense, which were an increase to interest expense of $0.6 million and $0.1 million in the years ended December 31, 2011 and 2012, respectively. | ||||||||
• | $85 million Series C New Term Loans—The entire $85.0 million available under the incremental facility was borrowed in May 2012. Principal repayments of $212,500 were due quarterly and commenced June 30, 2012, with the final payment due on May 23, 2017. At BHFS LLC’s option, the new term loans bear interest at either i) the greater of the Federal Funds Rate plus 0.5% or Prime (the Base Rate) plus 3.25%, or ii) LIBOR (the Eurodollar Rate) plus 4.25%. Both the Base Rate and Eurodollar Rate were subject to floors of 2.0% and 1.0%, respectively. At December 31, 2012, $84.4 million of Series C new term loans were outstanding and the interest rate on the outstanding loans was 5.3%. | ||||||||
Debt outstanding under the Credit and Guaranty Agreement was secured by substantially all of the assets of the Company’s subsidiaries located in the United States, and was guaranteed by all of the Company’s wholly-owned U.S.-based subsidiaries. The Credit and Guaranty Agreement required that the Company maintain compliance with specified financial ratios and other covenants, including a minimum interest coverage ratio, a maximum total leverage ratio, a maximum capital expenditures requirement, and certain limitations on additional indebtedness, and the acquisitions and dispositions of assets. Amounts outstanding under the Credit and Guaranty Agreement were also subject to mandatory prepayment provisions based on cash flow generation, certain asset sales, or additional debt. | |||||||||
Deferred Financing Fees | |||||||||
The Company incurred financing fees of $29.4 million in connection with the 2008 debt agreements and the 2012 Series C new term loans. These fees were being amortized over the terms of the related debt instruments and such amortization is included in interest expense. Amortization expense relating to these deferred financing costs for the years ended December 31, 2011 and 2012 was $3.4 million and $3.7 million, respectively. | |||||||||
The revolving credit facility and the Tranche B term loans were issued with original issue discount (OID) of $20.5 million; the Series C new term loans issued in May 2012 were issued with OID of $0.4 million. The OID was amortized over the stated term of each facility with amounts amortized in each period included in interest expense. For the years ended December 31, 2011 and 2012 the total amount of amortized OID included in interest expense was $2.9 million and $3.1 million, respectively. | |||||||||
Note Purchase Agreements and Indentures | |||||||||
The Note Purchase Agreements and respective Indentures consisted of: | |||||||||
• | $300 million of Senior Subordinated Notes: The senior subordinated notes were issued by BHFS LLC on May 28, 2008, bearing a fixed annual interest rate of 11.5% computed on the basis of a 360-day year and twelve 30-day months. Interest was payable quarterly and the senior subordinated notes mature and were payable in full on May 28, 2018. The senior subordinated notes were guaranteed by all of the Company’s wholly-owned US-based subsidiaries. | ||||||||
• | $110 million of Senior Notes: The senior notes were issued by Capital Corp. on May 28, 2008, bearing a fixed annual interest rate of 13.0% computed on the basis of a 360-day year and twelve 30-day months. Interest was payable quarterly in arrears and the senior notes mature and were payable in full on November 28, 2018. At Capital Corp.’s option, interest due on or before May 28, 2013, was payable in cash or by such interest being added to the principal. At December 31, 2012, the Company had $197.8 million of aggregate principal amount of the senior notes outstanding, which included the interest that has been added to the principal. The senior notes were not guaranteed by any of the Company’s subsidiaries. Accumulated interest in the amount of $87.8 million added to the principal was due in 2013; however, since the Company used a portion of the proceeds from its initial public offering in 2013 to repay that liability, the amount was presented as a long-term liability at December 31, 2012. | ||||||||
The Indentures and the Note Purchase Agreements do not contain any financial maintenance covenants. |
Redeemable_NonControlling_Inte
Redeemable Non-Controlling Interest | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||
Redeemable Non-Controlling Interest | ' | ||||||||
10 | REDEEMABLE NON-CONTROLLING INTEREST | ||||||||
In July 2011, and as discussed in Note 1, the Company acquired a 63% ownership interest of a company in the Netherlands. The Company acquired the remaining 37% interest by acquiring 18.5% in November 2012 and the remaining 18.5% on December 31, 2013. | |||||||||
The operating results of the company in the Netherlands are included in the Company’s consolidated results of operations with the non-controlling interest and the net income attributable to the Company presented separately. The minority ownership interest by the previous owners is presented as redeemable non-controlling interest on the consolidated balance sheet in the periods prior to the acquisition of the remaining interest on December 31, 2013. | |||||||||
The redeemable non-controlling interest was measured at fair value at the date of acquisition and was reviewed at each subsequent reporting period and adjusted, as needed, to reflect its then redemption value. No adjustments were recorded. | |||||||||
The acquisition by the Company of 18.5% interest on November 23, 2012 for $3.9 million and of the remaining 18.5% interest on December 31, 2013 for $4.1 million was treated as an equity transaction and the difference between the acquisition price and carrying value of the redeemable non-controlling interest was recorded as an adjustment to additional paid in capital. The accumulated other comprehensive income associated with the additional acquired interest was also recorded as equity of the Company. | |||||||||
The following is a reconciliation of the changes in the redeemable non-controlling interest for the years ended December 31, 2013 and 2012 (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of the period | $ | 8,126 | $ | 15,527 | |||||
Sale of 18.5% of interest to BHFS | (8,204 | ) | (7,994 | ) | |||||
Net (loss) income attributable to non-controlling interest | (279 | ) | 347 | ||||||
Effect of foreign currency translation | 357 | 246 | |||||||
Balance at end of period | $ | — | $ | 8,126 | |||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
11 | INCOME TAXES | ||||||||||||
Income (loss) before income taxes consists of the following (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | 5,109 | $ | 6,882 | $ | 3,973 | |||||||
Foreign | (298 | ) | 4,870 | 1,614 | |||||||||
Total | $ | 4,811 | $ | 11,752 | $ | 5,587 | |||||||
Income tax (benefit) expense consists of the following (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax expense (benefit) | |||||||||||||
Federal | $ | 10,546 | $ | 8,102 | $ | (2,063 | ) | ||||||
State | 591 | 2,361 | 1,517 | ||||||||||
Foreign | (5,260 | ) | 4,434 | 7,120 | |||||||||
5,877 | 14,897 | 6,574 | |||||||||||
Deferred tax (benefit) expense | |||||||||||||
Federal | (9,080 | ) | (9,048 | ) | (1,292 | ) | |||||||
State | (1,179 | ) | (1,453 | ) | 523 | ||||||||
Foreign | (3,151 | ) | (1,153 | ) | (4,980 | ) | |||||||
(13,410 | ) | (11,654 | ) | (5,749 | ) | ||||||||
Income tax (benefit) expense | $ | (7,533 | ) | $ | 3,243 | $ | 825 | ||||||
The following is a reconciliation of the U.S. Federal statutory rate to the effective rate on pretax income (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal tax expense computed at statutory rate | $ | 1,684 | $ | 4,113 | $ | 1,956 | |||||||
State tax (benefit) expense, net of federal tax | (193 | ) | 416 | 1,502 | |||||||||
Valuation allowance, net | 3 | 23 | (5,018 | ) | |||||||||
Permanent differences and other, net | (234 | ) | 551 | 236 | |||||||||
Change in tax rate | (94 | ) | 12 | (1,599 | ) | ||||||||
Change to uncertain tax positions, net | (4,850 | ) | (869 | ) | 4,166 | ||||||||
Foreign rate differential | (3,849 | ) | (1,003 | ) | (418 | ) | |||||||
Income tax (benefit) expense | $ | (7,533 | ) | $ | 3,243 | $ | 825 | ||||||
Significant components of the Company’s net deferred tax liability are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Current deferred tax assets: | |||||||||||||
Reserve on assets | $ | 869 | $ | 679 | |||||||||
Liabilities not yet deductible | 10,874 | 10,095 | |||||||||||
Deferred revenue | 708 | 430 | |||||||||||
Other | 496 | 207 | |||||||||||
12,947 | 11,411 | ||||||||||||
Valuation allowance | (6 | ) | (45 | ) | |||||||||
Net current deferred tax assets | 12,941 | 11,366 | |||||||||||
Non-current deferred tax assets: | |||||||||||||
Net operating loss and credit carryforwards | 1,983 | 1,918 | |||||||||||
Liabilities not yet deductible | 14,264 | 12,806 | |||||||||||
Deferred revenue | 1,090 | 737 | |||||||||||
Stock-based compensation | 11,663 | 9,641 | |||||||||||
Deferred financing costs | — | 1,018 | |||||||||||
Other | 2,519 | 2,410 | |||||||||||
31,519 | 28,530 | ||||||||||||
Valuation allowance | (1,046 | ) | (1,037 | ) | |||||||||
Net non-current deferred tax assets | 30,473 | 27,493 | |||||||||||
Total net deferred tax assets | 43,414 | 38,859 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangible assets | (152,462 | ) | (158,426 | ) | |||||||||
Depreciation | (17,805 | ) | (17,814 | ) | |||||||||
Total deferred tax liabilities | (170,267 | ) | (176,240 | ) | |||||||||
Net deferred tax liability | $ | (126,853 | ) | $ | (137,381 | ) | |||||||
During 2013, the overall deferred tax liability has decreased, primarily due to the book to tax difference in the treatment of amortization of intangible assets and stock-based compensation. | |||||||||||||
The Company has foreign net operating losses of $9.5 million and has recorded an associated deferred tax asset totaling $1.5 million. Deferred tax assets associated with state net operating losses total $0.5 million. The net operating losses in foreign jurisdictions will begin to expire in 2031 or can be carried forward indefinitely. The net operating losses in the various states have expiration dates through 2031. In jurisdictions in which the Company has not had a history of profitability, the Company has recorded a valuation allowance of $1.0 million associated with foreign net operating losses totaling $7.8 million included in the total above. | |||||||||||||
We consider the earnings of certain non-U.S. subsidiaries to be indefinitely invested outside the United States on the basis of estimates that future domestic cash generation will be sufficient to meet future domestic cash needs and our specific plans for reinvestment of those subsidiary earnings. We have not recorded a deferred tax liability of approximately $3.2 million related to the U.S. federal and state income taxes and foreign withholding taxes on approximately $27.6 million of undistributed earnings of foreign subsidiaries indefinitely invested outside the United States. Should we decide to repatriate the foreign earnings, we would need to adjust our income tax provision in the period we determined that the earnings will no longer be indefinitely invested outside the United States. | |||||||||||||
Uncertain Tax Positions | |||||||||||||
The Company follows the authoritative guidance relating to the accounting for uncertainty in income taxes. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. | |||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 7,412 | $ | 7,933 | $ | 4,420 | |||||||
Additions for tax positions of prior years | 540 | 474 | 4,392 | ||||||||||
Additions for tax positions of current year | — | 879 | 557 | ||||||||||
Settlements | (1,110 | ) | (474 | ) | (1,436 | ) | |||||||
Reductions for tax positions of prior years | (4,108 | ) | (845 | ) | — | ||||||||
Lapses of statutes of limitations | (712 | ) | (778 | ) | — | ||||||||
Effect of foreign currency adjustments | 12 | 223 | — | ||||||||||
Ending balance | $ | 2,034 | $ | 7,412 | $ | 7,933 | |||||||
The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. The Company’s current provision for income tax expense for the years ended December 31, 2013, 2012, and 2011 included $0.1 million, $0.3 million, and $0.8 million, respectively, of interest and penalties related to tax positions of the Company. The liability for total interest and penalties at December 31, 2013 and 2012 was $1.6 million and $2.6 million, respectively, and is included in other long-term liabilities. During the fourth quarter of 2013, the Company partially reduced its reserve for uncertain tax positions due to the lapse in the statute of limitations for prior tax filings. Additionally, the Company received correspondence from a government representative of a foreign jurisdiction settling a tax matter for prior years. A tax payment was made and amendments were made to previous filings; as a result, the excess uncertain tax benefit related to this matter was reduced during the second quarter of 2013. | |||||||||||||
The total amount of unrecognized tax benefits that if recognized would affect the Company’s effective tax rate is $1.5 million. The Company expects the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this time frame, or if applicable statutes of limitations lapse. The impact of the amount of such changes to previously recorded uncertain tax positions could range from zero to $1.0 million. | |||||||||||||
The Company and its domestic subsidiaries are subject to U.S. Federal income tax as well as multiple state jurisdictions. U.S. Federal income tax returns are typically subject to examination by the Internal Revenue Service (IRS) and the statute of limitations for Federal income tax returns is three years. The Company’s filings for 2010 through 2013 are subject to audit based upon the Federal statute of limitations. The Company received notification, in the fourth quarter of 2013, from the Internal Revenue Service, concerning the audit of 2011 which is in the beginning stages. | |||||||||||||
State income tax returns are generally subject to examination for a period of three to five years after filing of the respective return. The state impact of any Federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. There were no significant settlements of state audits during 2013. As of December 31, 2013, there were two income tax audits in process and the tax years from 2008 to 2013 are subject to audit. | |||||||||||||
The Company is also subject to corporate income tax at its subsidiaries located in the United Kingdom, the Netherlands, India, Canada, Ireland, and Puerto Rico. The tax returns for the Company’s subsidiaries located in foreign jurisdictions are subject to examination for periods ranging from one to seven years. |
Stockholders_Equity_and_StockB
Stockholders' Equity and Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||||||||||
Stockholders' Equity and Stock-Based Compensation | ' | ||||||||||||||||||||||||
12 | STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION | ||||||||||||||||||||||||
Common Stock and Preferred Stock | |||||||||||||||||||||||||
Prior to the Offering, the Company had Class L and Class A common stock outstanding. The Company’s Class L common stock was classified outside of permanent equity as the timing of the conversion or redemption event was outside of the control of the Company. In December 2012, the Company’s controlling shareholder effectively fixed the conversion ratio and the Class L common stock was re-measured to its final redemption amount using the fixed conversion ratio and the estimated fair value at that time. | |||||||||||||||||||||||||
In connection with the 1–for–1.9704 reverse split of its Class A common stock and as determined by its holders, the Company converted each share of its Class L common stock into 35.1955 shares of Class A common stock on January 11, 2013, and immediately reclassified those shares as well as all outstanding shares of Class A common stock into common stock. As a result of the reclassification of Class A common stock to common stock, all references to “Class A common stock” have been changed to “common stock” for all periods presented. | |||||||||||||||||||||||||
The following table reflects the changes in Class L common stock for the three years ended December 31, 2013 (in thousands, except share data): | |||||||||||||||||||||||||
Shares | Shares | Amount | |||||||||||||||||||||||
Issued | Outstanding | ||||||||||||||||||||||||
Class L common stock, balance at December 31, 2010 | 1,318,442 | 1,317,053 | $ | 699,533 | |||||||||||||||||||||
Issuance of Class L common stock | 528 | 528 | 47 | ||||||||||||||||||||||
Accretion of Class L preferred return | — | — | 72,842 | ||||||||||||||||||||||
Class L common stock, balance at December 31, 2011 | 1,318,970 | 1,317,581 | 772,422 | ||||||||||||||||||||||
Issuance of Class L common stock | 18,610 | 18,610 | 1,675 | ||||||||||||||||||||||
Repurchase of Class L common stock | — | (9,076 | ) | (4,643 | ) | ||||||||||||||||||||
Retirement of treasury stock | (10,465 | ) | — | — | |||||||||||||||||||||
Accretion of Class L preferred return | — | — | 84,647 | ||||||||||||||||||||||
Class L common stock, balance at December 31, 2012 | 1,327,115 | 1,327,115 | 854,101 | ||||||||||||||||||||||
Conversion of Class L common stock into Common Stock | (1,327,115 | ) | (1,327,115 | ) | (854,101 | ) | |||||||||||||||||||
Class L common stock, balance at December 31, 2013 | — | — | $ | — | |||||||||||||||||||||
On January 30, 2013, the Company completed the Offering and, after the exercise of the underwriters’ overallotment option on February 21, 2013, issued a total of 11.6 million shares of common stock. | |||||||||||||||||||||||||
The Company also authorized 25 million shares of undesignated preferred stock in 2013 for issuance, of which none were issued as of December 31, 2013. The Company’s board of directors has the authority, without further action by stockholders, to issue up to 25 million shares of preferred stock in one or more series. The Company’s board of directors may designate the rights, preferences, privileges, and restrictions of the preferred stock, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preference, and number of shares constituting any series or the designation of any series. The issuance of preferred stock could have the effect of restricting dividends on the Company’s common stock, diluting the voting power of its common stock, impairing the liquidation rights of its common stock, or delaying or preventing a change in control. The ability to issue preferred stock could delay or impede a change in control. As of December 31, 2013 no shares of preferred stock were outstanding. | |||||||||||||||||||||||||
Treasury Stock | |||||||||||||||||||||||||
There were no stock repurchases during the years ended December 31, 2013 and 2011. During the year ended December 31, 2012, the Company repurchased a total of 41,454 shares of common stock. The Company accounts for treasury stock under the cost method. On September 21, 2012, the Company retired all of its treasury stock, resulting in a $0.6 million reduction in common treasury stock and additional paid-in capital. | |||||||||||||||||||||||||
Equity Incentive Plan | |||||||||||||||||||||||||
The Company has the 2012 Omnibus Long-Term Incentive Plan (“the Plan”), which became effective on January 24, 2013, and allows for the issuance of equity awards of up to 5 million shares of common stock. As of December 31, 2013, there were approximately 4.5 million shares of common stock available for grant. | |||||||||||||||||||||||||
The Company also had an incentive compensation plan (the “2008 Equity Incentive Plan”) which, as amended in March 2012, was authorized to issue 150,000 shares of Class L common stock and 1.5 million shares of Class A common stock. As discussed in Note 1, “Organization and Significant Accounting Policies,” the Company effected a 1–for–1.9704 reverse split of its Class A common stock. Therefore, all previously reported options to purchase Class A shares and the related exercise prices in the accompanying financial statements and related notes have been retroactively adjusted to reflect the reverse stock split. No additional options will be granted under the 2008 Equity Incentive Plan. However, all outstanding options continue to be governed by their existing terms. | |||||||||||||||||||||||||
In addition, on January 11, 2013, the Company converted each share of its Class L common stock into 35.1955 shares of Class A common stock, and, immediately following the conversion of its Class L common stock, reclassified those shares, as well as all outstanding shares of Class A common stock, into common stock. All outstanding options to purchase Class L common stock have been converted into options to acquire common stock using the 35.1955 conversion ratio with a corresponding adjustment to the exercise price. | |||||||||||||||||||||||||
Stock options granted under the Plan are subject to a service condition and expire between seven and ten years from date of grant or termination of the holder’s employment with the Company, unless such termination was due to death, disability or retirement, unless otherwise determined by the Administrator of the Plan. The majority of the options have a requisite service period of five years, with 40% of the options vesting on the second anniversary of the date of grant and 20% vesting on each of the third, fourth and fifth anniversaries, or have ratable or cliff vesting at the end of three years. | |||||||||||||||||||||||||
On March 9, 2012, the Board of Directors approved the exchange of existing stock options to acquire common stock for options to acquire a combination of common stock and shares of Class L common stock (the “stock option exchange”). Options to purchase a total of 711,389 shares of common stock were exchanged as of May 2, 2012 for options to acquire 90,630 shares of Class L common stock and 413,953 shares of common stock, based on an exchange ratio of options to purchase approximately 7.9 shares of common stock for a new option to purchase one share of Class L common stock and 4.6 shares of common stock. The exercise price for each new award was $511.51 per share of Class L common stock and $12.00 per share of common stock. All option holders were subject to the exchange. This transaction was accounted for as a modification and resulted in approximately $19.0 million of additional compensation expense, of which approximately $13.4 million was recognized in 2012 related to the requisite service period already fulfilled, and approximately $5.0 million was recognized upon the closing of the Offering in January 2013, related to this performance requirement and the requisite service period fulfilled. The remaining incremental expense for stock options granted with a service condition is recognized on a straight-line basis over the remaining requisite service period of each separately vesting tranche. At December 31, 2013, there was approximately $0.4 million of expense remaining to be recognized in relation to the stock option exchange, which will be recognized over approximately 2 years. | |||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||
The Company recognized the impact of stock-based compensation in its consolidated statements of operations for the years ended December 31, 2013, 2012, and 2011 and did not capitalize any amounts on the consolidated balance sheets. In the years ended December 31, 2013, 2012, and 2011, the Company recorded stock-based compensation expense of $10.7 million, $17.6 million, and $1.2 million, respectively, in selling, general and administrative expenses in the consolidated statements of operations, which generated an income tax benefit of $4.3 million, $7.1 million , and $0.5 million, respectively. | |||||||||||||||||||||||||
The stock-based compensation expense for the year ended December 31, 2013 includes $5.0 million associated with options to purchase 1.3 million shares of common stock that had been issued under the 2008 Equity Incentive Plan, which vested upon the effectiveness of the Offering on January 24, 2013. The stock compensation expense for the year ended December 31, 2012 includes $13.4 million related to the stock option exchange, $3.5 million related primarily to the vested portion of option awards granted during the period, with the remaining $0.7 million related to option awards granted in prior years. | |||||||||||||||||||||||||
There were no share-based liabilities paid during the period. | |||||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||
In conjunction with the Merger, various members of management rolled over certain vested and unexercised options in the Predecessor as investments in the Company; these rolled over options were substituted for continuation options to acquire a combination of shares in the Company in a ratio of 4.6 shares of Class A common stock for every one share of Class L common stock. A total of 472,709 pre-Merger options were rolled over, and substituted for 26,777 options to acquire an aggregate of 26,777 shares of Class L common stock and 122,303 shares of Class A common stock. | |||||||||||||||||||||||||
These continuation options had been fully expensed by the Predecessor as of the date of the Merger, and, therefore, there is no expense for these options in the accompanying consolidated statements of operations. | |||||||||||||||||||||||||
On January 11, 2013, the options to purchase shares of Class L common stock were converted into options to purchase common stock based on a conversion factor of 35.1955 with a corresponding adjustment to the exercise price. The following table reflects stock option activity for the continuation options for the year ended December 31, 2013: | |||||||||||||||||||||||||
Weighted | Class L Shares | Common Stock | Aggregate | ||||||||||||||||||||||
Average | Intrinsic | ||||||||||||||||||||||||
Remaining | Value | ||||||||||||||||||||||||
Contractual | (In millions) | ||||||||||||||||||||||||
Life in | |||||||||||||||||||||||||
Years | Number | Weighted | Number | Weighted | |||||||||||||||||||||
of | Average | of | Average | ||||||||||||||||||||||
Options | Exercise | Options | Exercise | ||||||||||||||||||||||
Price | Price | ||||||||||||||||||||||||
Outstanding at January 1, 2013 | 0.5 | 4,581 | $ | 90 | 20,924 | $ | 4.93 | ||||||||||||||||||
Conversion of Class L common stock (1) | (4,581 | ) | 90 | 161,221 | 2.56 | ||||||||||||||||||||
Exercised | — | — | (182,145 | ) | 2.83 | $ | 5.1 | ||||||||||||||||||
Outstanding and Exercisable at December 31, 2013 | — | — | $ | — | — | $ | — | $ | — | ||||||||||||||||
-1 | Represents the conversion of Class L common stock into 35.1955 shares of common stock on January 11, 2013. | ||||||||||||||||||||||||
The aggregate intrinsic value represents the net amount that would have been received by the option holders had they exercised all of their outstanding options and those which were fully vested on that date. | |||||||||||||||||||||||||
The total aggregate intrinsic value of exercised continuation options was $8.4 million and $0.2 million for the years ended December 31, 2012 and 2011, respectively, based on the fair value of Class L common shares of $511.51 and $472.70, respectively, and based on the fair value of common stock of $12.00 and $17.77, respectively. | |||||||||||||||||||||||||
The fair value of each stock option of common stock and Class L shares granted was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted average assumptions: | |||||||||||||||||||||||||
Years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Common | Class L | Common | Common | ||||||||||||||||||||||
Stock | Shares | Stock | Stock | ||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||
Expected stock price volatility | 44.3 | % | 79.2 | % | 79.2 | % | 82 | % | |||||||||||||||||
Risk free interest rate | 1 | % | 0.68 | % | 0.68 | % | 1.2 | % | |||||||||||||||||
Expected life of options (years) | 5.27 | 4.16 | 4.16 | 3.47 | |||||||||||||||||||||
Weighted average fair value per share of options granted during the period | $ | 10.24 | $ | 291.83 | $ | 6.84 | $ | 10.4 | |||||||||||||||||
The expected dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. Since the Company completed its initial public offering in January 2013, it does not have sufficient history as a publicly traded company to evaluate its volatility factor. As such, the expected stock price volatility is based upon the historical volatility of the stock price over the expected life of the options of peer companies that are publicly traded. The risk free interest rate was based on the U.S. Treasury rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the awards being valued. For grants issued during the years ended December 31, 2013, 2012 and 2011, the expected life of the options was calculated using the simplified method. The simplified method defines the life as the average of the contractual term of the options and the weighted average vesting period for all option tranches. This methodology was utilized due to the short length of time our common stock has been publicly traded. | |||||||||||||||||||||||||
The table below reflects stock option activity under the Company’s equity plan for the year ended December 31, 2013. | |||||||||||||||||||||||||
Weighted | Class L Shares | Common Stock | |||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Remaining | |||||||||||||||||||||||||
Contractual | |||||||||||||||||||||||||
Life in | |||||||||||||||||||||||||
Years | Number | Weighted | Number | Weighted | Aggregate | ||||||||||||||||||||
of | Average | of | Average | Intrinsic | |||||||||||||||||||||
Options | Exercise | Options | Exercise | Value | |||||||||||||||||||||
Price | Price | (In millions) | |||||||||||||||||||||||
Outstanding at January 1, 2013 | 6.8 | 122,077 | $ | 511.51 | 557,464 | $ | 12 | ||||||||||||||||||
Conversion of Class L common stock (1) | (122,077 | ) | 511.51 | 4,296,576 | 14.54 | ||||||||||||||||||||
Granted | — | — | 475,772 | 25.22 | |||||||||||||||||||||
Exercised | — | — | (734,550 | ) | 14.27 | $ | 15.4 | ||||||||||||||||||
Forfeited | — | — | (40,152 | ) | 14.25 | ||||||||||||||||||||
Outstanding at December 31, 2013 | 6.1 | — | $ | — | 4,555,110 | $ | 15.39 | $ | 97.3 | ||||||||||||||||
Exercisable at December 31, 2013 | 5.3 | — | $ | — | 2,890,848 | $ | 14.24 | $ | 65 | ||||||||||||||||
Vested and expected to vest at December 31, 2013 | 6.1 | — | $ | — | 4,471,921 | $ | 15.35 | $ | 95.6 | ||||||||||||||||
-1 | Represents the conversion of Class L common stock into 35.1955 shares of common stock on January 11, 2013. | ||||||||||||||||||||||||
The fair value (pre-tax) of options that vested during the years ended December 31, 2013, 2012, and 2011 were $9.1 million, $4.9 million, and $0.8 million, respectively. | |||||||||||||||||||||||||
As of December 31, 2013, there was $7.1 million of total unrecognized compensation expense related to unvested share-based compensation arrangements granted under the Plan. That expense is expected to be recognized over the remaining requisite service period. The weighted average remaining requisite service period was approximately two years at December 31, 2013. | |||||||||||||||||||||||||
Cash received by the Company from the exercise of stock options for the years ended December 31, 2013, 2012 and 2011 was $11.0 million, $2.1 million, and $0.1 million, respectively. The actual tax benefits realized from the tax deductions for option exercises were $5.9 million, $3.4 million, and $0.1 million in the years ended December 31, 2013, 2012, and 2011, respectively. The Company realizes a tax deduction upon the exercise of non-qualified stock options due to the recognition of compensation expense in the calculation of its taxable income. The amount of the compensation recognized for tax purposes is based on the difference between the market value of the common stock and the option price at the date the options are exercised. Tax benefits related to the exercise of the continuation options were credited to goodwill as they had been previously expensed by the Predecessor. | |||||||||||||||||||||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share | ' | ||||||||||||
13 | EARNINGS PER SHARE | ||||||||||||
As the Company had both Class L and common stock outstanding and the Class L common stock has a preference with respect to all liquidation distributions, net (loss) earnings per share is calculated using the two-class method, which requires the allocation of earnings to each class of common stock. | |||||||||||||
The numerator in calculating Class L basic and diluted earnings per share represents changes in the redemption value of the Class L shares during each period. The numerator in calculating common stock basic and diluted earnings per share is an amount equal to consolidated net income less the Class L preference amount and Class L pro rata share amount, if any. | |||||||||||||
The weighted average number of Class L shares in the Class L earnings per share calculation represents the weighted average from the beginning of the period up through the date of conversion of the Class L shares into common shares. | |||||||||||||
The weighted average number of common shares in the common diluted earnings per share calculation excludes all Class L shares and stock options outstanding during the respective periods, as they would not be dilutive. The weighted average number of Class L shares in the earnings per share calculation excludes all Class L stock options outstanding during the respective periods as they would not be dilutive. The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share amounts): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income—basic and diluted | $ | 12,623 | $ | 8,162 | $ | 4,759 | |||||||
Accretion of Class L preference | — | 79,211 | 71,568 | ||||||||||
Accretion of Class L preference for vested options | — | 5,436 | 1,274 | ||||||||||
Net income (loss) available to common shareholders | $ | 12,623 | $ | (76,485 | ) | $ | (68,083 | ) | |||||
Allocation of net income (loss) to common shareholders: | |||||||||||||
Class L | $ | — | $ | 79,211 | $ | 71,568 | |||||||
Common stock | $ | 12,623 | $ | (76,485 | ) | $ | (68,083 | ) | |||||
Weighted average number of common shares: | |||||||||||||
Class L—basic and diluted | — | 1,326,206 | 1,317,273 | ||||||||||
Common stock: | |||||||||||||
Basic | 62,659,264 | 6,058,512 | 6,016,733 | ||||||||||
Dilutive effect of stock options | 1,849,772 | — | — | ||||||||||
Diluted | 64,509,036 | 6,058,512 | 6,016,733 | ||||||||||
Earnings (loss) per common share: | |||||||||||||
Class L—basic and diluted | $ | — | $ | 59.73 | $ | 54.33 | |||||||
Common stock: | |||||||||||||
Basic | $ | 0.2 | $ | (12.62 | ) | $ | (11.32 | ) | |||||
Diluted | $ | 0.2 | $ | (12.62 | ) | $ | (11.32 | ) | |||||
As of December 31, 2013, 2012, and 2011, options outstanding to purchase 0.1 million shares, 0.6 million shares and 0.8 million shares of common stock were excluded from diluted earnings per share since their effect was anti-dilutive, which may be dilutive in the future. As of December 31, 2012 and 2011, options outstanding to purchase 0.1 million shares and 23,191 shares of Class L common stock were excluded from diluted earnings per share since their effect was anti-dilutive, which may be dilutive in the future. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
14 | COMMITMENTS AND CONTINGENCIES | ||||
Leases | |||||
The Company leases various office equipment, child care and early education center facilities and office space under non-cancelable operating leases. Most of the leases expire within ten years and many contain renewal options for various periods. Rent expense for the years ended December 31, 2013, 2012, and 2011 totaled $76.8 million, $62.8 million and $57.6 million, respectively. | |||||
Future minimum payments under non-cancelable operating leases as of December 31, 2013 are as follows for the years ending December 31 (in thousands): | |||||
2014 | $ | 77,719 | |||
2015 | 75,351 | ||||
2016 | 69,870 | ||||
2017 | 63,192 | ||||
2018 | 58,015 | ||||
Thereafter | 327,117 | ||||
Total future minimum lease payments | $ | 671,264 | |||
Long-Term Debt | |||||
Future minimum payments of long-term debt are as follows for the years ending December 31 (in thousands): | |||||
2014 | $ | 7,900 | |||
2015 | 7,900 | ||||
2016 | 7,900 | ||||
2017 | 7,900 | ||||
2018 | 7,900 | ||||
Thereafter | 742,600 | ||||
Total future principal payments | $ | 782,100 | |||
Overdraft Facilities | |||||
Our wholly-owned subsidiary in the Netherlands maintains a multi-purpose revolving credit facility with a Dutch bank to support working capital, letter of credit requirements, and the construction and fitting out of new child care centers. The current account facility is secured by a right of offset against all accounts maintained at the lending bank and by an additional pledge of certain equipment. Availability under the €5.2 million facility declines in monthly increments of €0.25 million beginning on July 1, 2013 to €3.45 million at January 1, 2014. At December 31, 2013, there was €0.5 million (approximately $0.7 million) outstanding and currently due under the facility. There is no stated maturity or termination date on the facility, however, the bank may terminate the line of credit at any time at its discretion. There were 21 letters of credit outstanding under this general facility as of December 31, 2013 that were used to guarantee certain rent payments for up to €0.7 million (approximately $1.0 million). No amounts have been drawn against these letters of credit. At December 31, 2013, there was €2.5 million available for borrowing under the facility, after letters of credit outstanding. The weighted average interest rate for the years ended December 31, 2013 and 2011 was 5.61% and 5.95%, respectively. At December 31, 2012, there were no amounts outstanding under the facility. | |||||
The Company’s subsidiaries in the United Kingdom maintain an overdraft facility with a U.K. bank to support local short-term working capital requirements. The overdraft facility is repayable upon demand from the U.K. bank. The facility provides maximum borrowings of £0.3 million (approximately $0.4 million at December 31, 2013) and is secured by a cross guarantee by and among the Company’s subsidiaries in the United Kingdom and a right of offset against all accounts maintained by the subsidiaries at the lending bank. The overdraft facility bears interest at the U.K. bank’s base rate plus 2.15%. At December 31, 2013 and 2012, there were no amounts outstanding under the overdraft facility. | |||||
Letters of Credit | |||||
The Company has 22 letters of credit outstanding used to guarantee certain rent payments for up to $1.1 million, including the letters of credits referenced in Note 9. No amounts have been drawn against these letters of credit. | |||||
Litigation | |||||
The Company is a defendant in certain legal matters in the ordinary course of business. Management believes the resolution of such legal matters will not have a material effect on the Company’s financial condition, results of operations or cash flows. | |||||
Insurance and Regulatory | |||||
The Company self-insures a portion of its medical insurance plans and has a high deductible workers’ compensation plan. While management believes that the amounts accrued for these obligations are sufficient, any significant increase in the number of claims or costs associated with claims made under these plans could have a material adverse effect on the Company’s financial position, results of operations or cash flows. | |||||
The Company’s child care and early education centers are subject to numerous federal, state and local regulations and licensing requirements. Failure of a center to comply with applicable regulations can subject it to governmental sanctions, which could require expenditures by the Company to bring its child care and early education centers into compliance. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |
Dec. 31, 2013 | ||
Compensation And Retirement Disclosure [Abstract] | ' | |
Employee Benefit Plans | ' | |
15 | EMPLOYEE BENEFIT PLANS | |
The Company maintains a 401(k) Retirement Savings Plan (the “401(k) Plan”) for all eligible employees. To be eligible for the 401(k) Plan, an employee must be at least 20.5 years of age and have completed their eligibility period of 60 days and 160 hours of service from date of hire. If they do not meet the 160 hours of service requirement, they may be eligible at 12 months provided they have reached 1,000 hours of service from date of hire. The 401(k) Plan is funded by elective employee contributions of up to 50% of their compensation, subject to certain limitations. Under the 401(k) Plan, the Company matches 25% of employee contributions for each participant up to 8% of the employee’s compensation after one year of service. Expense under the plan, consisting of Company contributions and plan administrative expenses paid by the Company, totaled approximately $2.1 million, $2.0 million and $1.8 million for each of the years ended December 31, 2013, 2012 and 2011. |
Segment_and_Geographic_Informa
Segment and Geographic Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment and Geographic Information | ' | ||||||||||||||||
16 | SEGMENT AND GEOGRAPHIC INFORMATION | ||||||||||||||||
Bright Horizons work/life services are primarily comprised of full service center-based child care, back-up dependent care, and other educational advisory services. Full service center-based care includes the traditional center-based child care, preschool, and elementary education, which have similar operating characteristics and meet the criteria for aggregation. Full service center-based care derives its revenues primarily from contractual arrangements with corporate clients and from tuition. The Company’s back-up dependent care services consist of center-based back-up child care, in-home care, mildly ill care, and adult/elder care. The Company’s other education advisory services consists of the remaining services, including college preparation and admissions counseling and tuition assistance, counseling and management services, which do not meet the quantitative thresholds for separate disclosure and are not material for segment reporting individually or in the aggregate. The Company and its chief operating decision makers evaluate performance based on revenues and income from operations. | |||||||||||||||||
The assets and liabilities of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements; therefore, no additional information is produced or included herein. | |||||||||||||||||
Full service | Back-up | Other | Total | ||||||||||||||
center-based | dependent | educational | |||||||||||||||
care | care | advisory | |||||||||||||||
services | |||||||||||||||||
(In thousands) | |||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||
Revenue | $ | 1,049,854 | $ | 144,432 | $ | 24,490 | $ | 1,218,776 | |||||||||
Amortization of intangible assets | 29,048 | 725 | 302 | 30,075 | |||||||||||||
Income from operations (1) | 67,287 | 39,710 | 2,037 | 109,034 | |||||||||||||
Year ended December 31, 2012 | |||||||||||||||||
Revenue | $ | 922,214 | $ | 130,082 | $ | 18,642 | $ | 1,070,938 | |||||||||
Amortization of intangible assets | 25,906 | 725 | 302 | 26,933 | |||||||||||||
Income from operations (2) | 60,154 | 33,863 | 1,447 | 95,464 | |||||||||||||
Year ended December 31, 2011 | |||||||||||||||||
Revenue | $ | 844,595 | $ | 114,502 | $ | 14,604 | $ | 973,701 | |||||||||
Amortization of intangible assets | 25,178 | 1,947 | 302 | 27,427 | |||||||||||||
Income from operations | 58,950 | 28,669 | (783 | ) | 86,836 | ||||||||||||
-1 | For the year ended December 31, 2013, income from operations includes expenses incurred in connection with the Offering completed in January 2013, including a $7.5 million fee for the termination of the management agreement with Bain Capital Partners LLC, and $5.0 million for certain stock options that vested upon completion of the Offering, allocated on a proportionate basis to each segment, $4.0 million of acquisition-related expenses related to full-service center-based care and $1.3 million of costs associated with secondary offerings of common shares ($15.1 million to full service center-based care, $1.9 million to back-up dependent care, and $0.8 million to other educational advisory services). | ||||||||||||||||
-2 | For the year ended December 31, 2012, income from operations includes expenses incurred in connection with the modification of stock options in the amount of $15.1 million and expenses incurred in connection with the Offering completed in January 2013 in the amount of $1.8 million, allocated on a proportionate basis to each segment ($12.5 million to full service center-based care, $3.1 million to back-up dependent care, and $1.3 million to other educational advisory services). | ||||||||||||||||
Revenue and long-lived assets by geographic region are as follows (in thousands): | |||||||||||||||||
Years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Revenue | |||||||||||||||||
North America | $ | 980,537 | $ | 901,210 | $ | 843,645 | |||||||||||
Europe and other | 238,239 | 169,728 | 130,056 | ||||||||||||||
Total Revenue | $ | 1,218,776 | $ | 1,070,938 | $ | 973,701 | |||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Long-lived assets | |||||||||||||||||
North America | $ | 260,483 | $ | 230,807 | |||||||||||||
Europe and other | 130,411 | 109,569 | |||||||||||||||
Total long-lived assets | $ | 390,894 | $ | 340,376 | |||||||||||||
The classification “North America” is comprised of the Company’s United States, Canada and Puerto Rico operations and the classification “Europe and other” includes the Company’s United Kingdom, Netherlands, Ireland, and India operations. Revenues in the United States were $975.5 million in 2013, $896.1 million in 2012, and $838.7 million in 2011. Revenues in the United Kingdom were $204.7 million in 2013, $136.1 million in 2012, and $110.5 million in 2011. Long-lived assets were $257.8 million and $227.8 million, at December 31, 2013 and 2012, respectively, in the United States, and $108.9 million and $92.3 million at December 31, 2013 and 2012, respectively, in the United Kingdom. Revenue and long-lived assets associated with other countries were not material. |
Transactions_with_Related_Part
Transactions with Related Parties | 12 Months Ended | |
Dec. 31, 2013 | ||
Related Party Transactions [Abstract] | ' | |
Transactions with Related Parties | ' | |
17 | TRANSACTIONS WITH RELATED PARTIES | |
The Company had a management agreement with Bain Capital Partners LLC (“the Sponsor”), which provided for annual payments of $2.5 million through May 2018. In connection with the Offering, the Company and the Sponsor terminated the management agreement in exchange for a $7.5 million payment from the Company to the Sponsor, which is included in selling, general and administrative expenses in the accompanying statement of operations for the year ended December 31, 2013. As of December 31, 2013, investment funds affiliated with the Sponsor hold approximately 64.2% of the Company’s common stock. |
Quarterly_Results_Unaudited
Quarterly Results (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Results (Unaudited) | ' | ||||||||||||||||
18 | QUARTERLY RESULTS (UNAUDITED) | ||||||||||||||||
In the opinion of the Company’s management, the accompanying unaudited interim consolidated financial statements contain all adjustments which are necessary for a fair presentation of the quarters presented. The operating results for any quarter are not necessarily indicative of the results of any future quarter. | |||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||
(In thousands) | |||||||||||||||||
Revenue | $ | 280,123 | $ | 310,813 | $ | 308,663 | $ | 319,177 | |||||||||
Gross profit | 65,790 | 75,425 | 68,505 | 71,216 | |||||||||||||
Income from operations | 15,437 | 35,397 | 27,789 | 30,411 | |||||||||||||
Net (loss) income | (50,781 | ) | 24,507 | 14,942 | 23,676 | ||||||||||||
Net (loss) income attributable to Bright Horizons Family Solutions Inc (1) | (50,743 | ) | 24,579 | 15,044 | 23,743 | ||||||||||||
Allocation of net (loss) income to common stockholders – basic and diluted: | |||||||||||||||||
Class L | — | — | — | — | |||||||||||||
Common stock | (50,743 | ) | 24,579 | 15,044 | 23,743 | ||||||||||||
Earnings (loss) per share: | |||||||||||||||||
Class L – basic and diluted | $ | — | $ | — | $ | — | $ | — | |||||||||
Common stock – basic | $ | (0.91 | ) | $ | 0.38 | $ | 0.23 | $ | 0.36 | ||||||||
Common stock – diluted | $ | (0.91 | ) | $ | 0.37 | $ | 0.23 | $ | 0.35 | ||||||||
-1 | Net loss for the quarter ended March 31, 2013 includes a loss of $63.7 million from the extinguishment of debt. Refer to Note 9, “Credit Arrangements and Debt Obligations”, for additional details. | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2012 | 2012 | 2012 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Revenue | $ | 258,122 | $ | 271,463 | $ | 267,927 | $ | 273,426 | |||||||||
Gross profit | 58,020 | 64,553 | 60,092 | 63,105 | |||||||||||||
Income from operations | 26,104 | 16,061 | 25,355 | 27,944 | |||||||||||||
Net income (loss) | 3,590 | (1,914 | ) | 2,606 | 4,227 | ||||||||||||
Net income (loss) attributable to Bright Horizons Family Solutions Inc | 3,509 | (1,967 | ) | 2,446 | 4,174 | ||||||||||||
Allocation of net income (loss) to common stockholders – basic and diluted: | |||||||||||||||||
Class L | 18,513 | 19,590 | 20,298 | 20,810 | |||||||||||||
Common stock | (15,070 | ) | (25,482 | ) | (18,521 | ) | (17,412 | ) | |||||||||
Earnings (loss) per share: | |||||||||||||||||
Class L – basic and diluted | $ | 13.99 | $ | 14.76 | $ | 15.3 | $ | 15.68 | |||||||||
Class stock – basic and diluted | $ | (2.49 | ) | $ | (4.20 | ) | $ | (3.06 | ) | $ | (2.87 | ) |
Organization_and_Significant_A1
Organization and Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Organization | ' | ||||||||||||
Organization—Bright Horizons Family Solutions Inc. (“Bright Horizons” or the “Company”) provides workplace services for employers and families throughout the United States and the United Kingdom, and also in Puerto Rico, Canada, Ireland, the Netherlands, and India. Workplace services include center-based child care, education and enrichment programs, elementary school education, back-up dependent care (for children and elders), before and after school care, college preparation and admissions counseling, tuition reimbursement program management, and other family support services. | |||||||||||||
The Company provides its center-based child care services under two general business models: a profit and loss (“P&L”) model, where the Company assumes the financial risk of operating a child care center; and a cost-plus model, where the Company is paid a fee by an employer client for managing a child care center on a cost-plus basis. The P&L model is further classified into two subcategories: (i) a sponsor model, where Bright Horizons provides child care and early education services on either an exclusive or priority enrollment basis for the employees of a specific employer sponsor; and (ii) a lease/consortium model, where the Company provides child care and early education services to the employees of multiple employers located within a specific real estate development (for example, an office building or office park), as well as to families in the surrounding community. In both our cost-plus and sponsor P&L models, the development of a new child care center, as well as ongoing maintenance and repair, is typically funded by an employer sponsor with whom the Company enters into a multi-year contractual relationship. In addition, employer sponsors typically provide subsidies for the ongoing provision of child care services for their employees. Under each model type, the Company retains responsibility for all aspects of operating the child care and early education center, including the hiring and paying of employees, contracting with vendors, purchasing supplies, and collecting tuition and related accounts receivable. | |||||||||||||
The Company also provides back-up dependent care services through our own centers and through our Back-Up Care Advantage (“BUCA”) program, which offers access to a contracted network of in-home care agencies and center-based providers in locations where we do not otherwise have centers with available capacity. | |||||||||||||
Basis of Presentation | ' | ||||||||||||
Basis of Presentation—Bright Horizons is majority-owned by investment funds affiliated with Bain Capital Partners, LLC as a result of a transaction in 2008 (the “Merger”), pursuant to which a wholly owned merger subsidiary was merged with and into Bright Horizons Family Solutions, Inc. (the “Predecessor”). As part of the transaction, a new basis of accounting was established and the purchase price was allocated to the assets acquired and liabilities assumed based on their fair values. In July 2012, Bright Horizons Family Solutions Inc. changed its name from Bright Horizons Solutions Corp. | |||||||||||||
Public Offering | ' | ||||||||||||
Public Offering—On January 30, 2013, the Company completed an initial public offering (“the Offering”) and, after the exercise of the underwriters’ overallotment option on February 21, 2013, issued a total of 11.6 million shares of common stock in exchange for $233.3 million, net of offering costs including $1.6 million expensed in 2012. The Company used the proceeds of the Offering, as well as certain amounts from the 2013 refinancing discussed below, to repay the principal and accumulated interest under its senior notes outstanding on January 30, 2013. | |||||||||||||
On January 11, 2013, the Company effected a 1–for–1.9704 reverse split of its Class A common stock. All previously reported Class A per share and Class A share amounts in the accompanying financial statements and related notes have been retroactively adjusted to reflect the reverse stock split. | |||||||||||||
In addition, on January 11, 2013, the Company converted each share of its Class L common stock into 35.1955 shares of Class A common stock, and, immediately following the conversion of its Class L common stock, reclassified the Class A common stock into common stock, for which 475 million shares were authorized. The Company also authorized 25 million shares of undesignated preferred stock for issuance. | |||||||||||||
On June 19, 2013, certain of the Company’s shareholders completed the sale of 9.8 million shares of the Company’s common stock in a secondary offering (“the Secondary”). The Company did not receive proceeds from the sale of shares in the Secondary. The Company incurred $0.6 million in offering costs related to the Secondary, which are included in selling, general and administrative expenses. | |||||||||||||
Debt Refinancing | ' | ||||||||||||
Debt Refinancing—On January 30, 2013, the Company entered into new $890.0 million senior secured credit facilities to refinance all of the existing indebtedness under the senior credit facilities and the senior subordinated notes and to reflect modifications to certain provisions of the senior credit facilities. Significant terms of the refinancing are discussed in Note 9, “Credit Arrangements and Debt Obligations.” | |||||||||||||
Principles of Consolidation | ' | ||||||||||||
Principles of Consolidation—The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates—The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company’s significant accounting policies in the preparation of the consolidated financial statements relate to goodwill and other intangibles, income taxes and common stock valuation and stock-based compensation. Actual results may differ from management’s estimates. | |||||||||||||
Foreign Operations | ' | ||||||||||||
Foreign Operations—The functional currency of the Company’s foreign subsidiaries is their local currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for subsidiaries using a functional currency other than the U.S. dollar is included in accumulated other comprehensive income or loss as a separate component of stockholders’ equity. | |||||||||||||
The Company’s intercompany accounts are denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in accumulated other comprehensive income or loss as a separate component of stockholders’ equity, while gains and losses resulting from the remeasurement of intercompany receivables from those foreign subsidiaries for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statement of operations. The net gains and losses recorded in the consolidated statements of operations for the years ended December 31, 2013 and 2012 were not significant. The Company recorded a net foreign currency gain of $0.8 million in the consolidated statement of operations for the year ended December 31, 2011 as a result of the settlement of an intercompany note during the year. | |||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||
Fair Value of Financial Instruments—The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date and applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The Company uses observable inputs where relevant and whenever possible. | |||||||||||||
Level 1—Quoted prices are available in active markets for identical investments as of the reporting date. | |||||||||||||
Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. | |||||||||||||
Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. | |||||||||||||
The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable and long-term debt. The fair value of the Company’s financial instruments approximates their carrying value. As of December 31, 2013, the Company’s long-term debt had a carrying value of $782.1 million and a fair value of $784.1 million based on quoted market prices for similar instruments and a model that considers observable inputs (level 2 inputs). | |||||||||||||
Concentrations of Credit Risk | ' | ||||||||||||
Concentrations of Credit Risk—Financial instruments that potentially expose the Company to concentrations of credit risk consist mainly of cash and cash equivalents and accounts receivable. The Company mitigates its exposure by maintaining its cash and cash equivalents in financial institutions of high credit standing. The Company’s accounts receivable, which are derived primarily from the services it provides, are dispersed across many clients in various industries with no single client accounting for more than 10% of the Company’s net revenue or accounts receivable. The Company believes that no significant credit risk exists at December 31, 2013 and 2012. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents—The Company considers all highly liquid investments with maturities, when purchased, of three months or less to be cash equivalents. Cash equivalents consist primarily of institutional money market accounts. There were no cash equivalent investments at December 31, 2013 and 2012. | |||||||||||||
The Company’s cash management system provides for the funding of the main bank disbursement accounts on a daily basis as checks are presented for payment. Under this system, outstanding checks may be in excess of the cash balances at certain banks, creating book overdrafts. There were no book overdrafts at December 31, 2013 and 2012. | |||||||||||||
Accounts Receivable | ' | ||||||||||||
Accounts Receivable—The Company generates accounts receivable from fees charged to parents and employer sponsors and, to a lesser degree, government agencies. The Company monitors collections and payments and maintains a provision for estimated losses based on historical trends, in addition to provisions established for specific collection issues that have been identified. Accounts receivable are stated net of this allowance for doubtful accounts. | |||||||||||||
Activity in the allowance for doubtful accounts is as follows (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 1,627 | $ | 1,514 | $ | 1,691 | |||||||
Provision | 437 | 734 | 1,043 | ||||||||||
Write offs and recoveries | (891 | ) | (621 | ) | (1,220 | ) | |||||||
Ending balance | $ | 1,173 | $ | 1,627 | $ | 1,514 | |||||||
Fixed Assets | ' | ||||||||||||
Fixed Assets—Property and equipment, including leasehold improvements, are carried at cost less accumulated depreciation or amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The cost and accumulated depreciation of assets sold or otherwise disposed of are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statements of operations. | |||||||||||||
Expenditures for maintenance and repairs are expensed as incurred, whereas expenditures for improvements and replacements are capitalized. Depreciation is included in cost of services and selling, general and administrative expenses depending on the nature of the expenditure. | |||||||||||||
Business Combinations | ' | ||||||||||||
Business Combinations—Business combinations are accounted for at fair value. Acquisition costs are expensed as incurred and recorded in selling, general and administrative expenses; restructuring costs associated with a business combination are expensed subsequent to the acquisition date; and changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date affect income tax expense. The accounting for business combinations requires estimates and judgment as to expectations for future cash flows of the acquired business, the allocation of those cash flows to identifiable intangible assets, and in determining the estimated fair value for assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. If the actual results differ from these estimates, the amounts recorded in the financial statements could result in a possible impairment of the intangible assets and goodwill, or require acceleration of the amortization expense of finite-lived intangible assets. | |||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||
Goodwill and Intangible Assets—Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The Company’s intangible assets principally consist of various customer relationships and trade names. | |||||||||||||
Goodwill and intangible assets with indefinite lives are not subject to amortization, but are tested annually for impairment or more frequently if there are indicators of impairment. The Company tests goodwill for impairment by comparing the fair value of each reporting unit to its carrying value. The Company performs its annual impairment test as of December 31. The first step of the goodwill impairment test compares the fair value of the reporting unit with its carrying amount, including goodwill. Fair value for each reporting unit is determined by estimating the present value of expected future cash flows, which are forecasted for each of the next ten years, applying a long-term growth rate to the final year, discounted using the Company’s estimated discount rate. If the fair value of the Company’s reporting unit exceeds its carrying amount, the goodwill of the reporting unit is considered not impaired. If the carrying amount of the Company’s reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test, used to measure the amount of impairment loss, compares the implied fair value of the affected reporting unit’s goodwill with the carrying value of that goodwill. No goodwill impairment losses were recorded in the years ended December 31, 2013, 2012, or 2011. | |||||||||||||
We test certain trademarks that are included in our indefinite-lived intangible assets, by comparing the fair value of the trademarks with their carrying value. We estimate the fair value first by estimating the total revenue attributable to the trademarks and then by applying a royalty rate determined by an analysis of empirical, market-derived royalty rates for guideline intangible assets, consistent with the initial valuation and then comparing the estimated fair value of our trademarks with the carrying value. This approach takes into effect level 3 and unobservable inputs. No impairment losses were recorded in the year ended December 31, 2013 in relation to intangible assets. Impairment losses of $0.4 million were recorded in each of the years ended December 31, 2012 and 2011 in relation to certain trade names with indefinite lives in the other educational advisory services segment, which have been included in selling, general and administrative expenses. | |||||||||||||
Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and are amortized over the estimated period benefited, ranging from one to seventeen years. Intangible assets related to parent relationships are amortized using the double declining balance method over their useful lives. All other intangible assets are amortized on a straight line basis over their useful lives. | |||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||
Impairment of Long-Lived Assets—The Company reviews long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is assessed by comparing the carrying amount of the asset to the estimated undiscounted future cash flows over the asset’s remaining life. If the estimated cash flows are less than the carrying amount of the asset, an impairment loss is recognized to reduce the carrying amount of the asset to its estimated fair value less any disposal costs. Fair value can be determined using discounted cash flows and quoted market prices based on level 3 inputs. The Company recorded fixed asset impairment losses of $0.8 million, $0.3 million and $0.8 million in the years ended December 31, 2013, 2012 and 2011, respectively, which have been included in cost of services. | |||||||||||||
Other Long Term Assets | ' | ||||||||||||
Other Long Term Assets—Other long term assets includes a cost basis investment of $2 million, which we review for impairment whenever events or changes in circumstances indicate that the carrying amount of such asset may not be recoverable. | |||||||||||||
Deferred Revenue | ' | ||||||||||||
Deferred Revenue—The Company records deferred revenue for prepaid tuition and management fees and amounts received from consulting projects in advance of services being performed. The Company is also a party to agreements where the performance of services extends beyond the current operating cycle. In these circumstances, the Company records a long-term obligation and recognizes revenue over the period of the agreement as the services are rendered. | |||||||||||||
Leases and Deferred Rent | ' | ||||||||||||
Leases and Deferred Rent—The Company leases space for certain of its centers and corporate offices. Leases are evaluated and classified as operating or capital for financial reporting purposes. The Company recognizes rent expense from operating leases with periods of free rent, tenant allowances and scheduled rent increases on a straight-line basis over the applicable lease term. The difference between rents paid and straight-line rent expense is recorded as deferred rent. | |||||||||||||
Discount on Long-Term Debt | ' | ||||||||||||
Discount on Long-Term Debt—Original issue discounts on the Company’s debt are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization expense is included in interest expense in the consolidated statements of operations. | |||||||||||||
Deferred Financing Costs | ' | ||||||||||||
Deferred Financing Costs—Deferred financing costs are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization of this expense is included in interest expense in the consolidated statements of operations. | |||||||||||||
Other Long-Term Liabilities | ' | ||||||||||||
Other Long-Term Liabilities—Other long-term liabilities consist primarily of amounts payable to clients, pursuant to terms of operating agreements or for deposits held by the Company, and obligations for uncertain tax positions. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes—The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for tax carryforwards, such as net operating losses. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the provision for income taxes in the period that includes the enactment date. The Company records a valuation allowance to reduce the carrying amount of deferred tax assets if it is more likely than not that such asset will not be realized. Additional income tax expense is recognized as a result of recording valuation allowances. The Company does not recognize a tax benefit on losses in foreign operations where it does not have a history of profitability. The Company records penalties and interest on income tax related items as a component of tax expense. | |||||||||||||
Obligations for uncertain tax positions are recorded based on an assessment of whether the position is more likely than not to be sustained by the taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. | |||||||||||||
Non-controlling Interest | ' | ||||||||||||
Non-controlling Interest—The Company recorded the redeemable non-controlling ownership interest of a company in the Netherlands at fair value at the date of its initial acquisition. The difference between the acquisition price and carrying value of the redeemable non-controlling interest of any additional interest acquired is recorded as an adjustment to additional paid in capital. Any accumulated other comprehensive income or loss associated with the additional acquired interest is recorded as other comprehensive income or loss of the Company. | |||||||||||||
In connection with the initial acquisition, the Company entered into put and call option agreements with the minority shareholders for the purchase of the non-controlling interest based on a contractually determined formula. As a result of the option agreements, the non-controlling interest is considered redeemable and is classified as temporary equity on the Company’s consolidated balance sheet. At December 31, 2013 and as further discussed in Note 10, “Redeemable Non-controlling Interest”, the Company has acquired 100% of the interest in the company. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition—The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the fee is fixed and determinable, and collectability is reasonably assured. | |||||||||||||
Center-based care revenues consist primarily of tuition, which consists of amounts paid by parents, supplemented in some cases by payments from employer sponsors and, to a lesser extent, by payments from government agencies. Revenue may also include management fees, operating subsidies paid either in lieu of or to supplement parent tuition, and fees for other services. Revenue for center-based care is recognized as the services are performed. | |||||||||||||
The Company enters into contracts with its employer sponsors to manage and operate their child care and early education centers and/or for the provision of back-up dependent care and other educational advisory services under various terms. The Company’s contracts to operate child care and early education centers are generally three to ten years in length with varying renewal options. The Company’s contracts for back-up dependent care and other educational advisory services are generally one to three years in length with varying renewal options. Revenue for these services is recognized as they are performed. | |||||||||||||
Common Stock Valuation and Stock-Based Compensation | ' | ||||||||||||
Common Stock Valuation and Stock-Based Compensation—The Company accounts for stock-based compensation using a fair value method. Stock-based compensation expense is recognized in the consolidated financial statements based on the grant-date fair value of the awards that are expected to vest. This expense is recognized on a straight-line basis over the requisite service period, which generally represents the vesting period, of each separately vesting tranche. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model. | |||||||||||||
The key assumption in determining the fair value of stock-based awards on the date of grant is the fair value of the underlying Class L common stock and common stock (collectively referred to herein as “common stock”). The fair value of the underlying common stock prior to the completion the Offering was determined using valuation models that rely primarily on a discounted cash flow approach to determine the enterprise value and the probability weighted expected return method to allocate the value of the invested capital to the two classes of stock. | |||||||||||||
Comprehensive Income or Loss | ' | ||||||||||||
Comprehensive Income or Loss—Comprehensive income or loss is comprised of net income or loss and foreign currency translation adjustments. The Company does not provide for U.S. income taxes on the portion of undistributed earnings of foreign subsidiaries that are intended to be permanently reinvested. Therefore, taxes are not provided for the related currency translation adjustments. | |||||||||||||
Earnings or Loss Per Share | ' | ||||||||||||
Earnings or Loss Per Share—Net earnings or loss per share is calculated using the two-class method, which is an earnings allocation formula that determines net income or loss per share for the holders of the Company’s common stock and the holders of Class L common stock. The Class L shares contained participation rights in any dividend paid by the Company or upon liquidation of the Company and were entitled to a minimum preferred return of 10% per annum, compounded quarterly. Net income available to common shareholders includes the effects of any Class L preference amounts. Net income available to shareholders is allocated on a pro rata basis to each share as if all of the earnings for the period had been distributed. Diluted net income or loss per share is calculated using the treasury stock method for all outstanding stock options and the as-converted method for the Class L shares. |
Organization_and_Significant_A2
Organization and Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Activity in Allowance for Doubtful Accounts | ' | ||||||||||||
Activity in the allowance for doubtful accounts is as follows (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 1,627 | $ | 1,514 | $ | 1,691 | |||||||
Provision | 437 | 734 | 1,043 | ||||||||||
Write offs and recoveries | (891 | ) | (621 | ) | (1,220 | ) | |||||||
Ending balance | $ | 1,173 | $ | 1,627 | $ | 1,514 | |||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value of Assets Acquired | ' | ||||||||||||
The fair value of the assets acquired in business combinations in the year ended December 31, 2011 is as follows (in thousands): | |||||||||||||
Cash paid, net of cash acquired | $ | 57,228 | |||||||||||
Liabilities assumed | 6,159 | ||||||||||||
Non-controlling interest | 17,063 | ||||||||||||
Goodwill recognized | (62,917 | ) | |||||||||||
Fair value of assets acquired | $ | 17,533 | |||||||||||
Children's Choice Learning Centers [Member] | ' | ||||||||||||
Allocation of Purchase Price | ' | ||||||||||||
The purchase price for this acquisition has been allocated based on estimates of the fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands): | |||||||||||||
At acquisition date | Measurement | At acquisition date | |||||||||||
As reported | period adjustments | As reported | |||||||||||
September 30, 2013 | December 31, 2013 | ||||||||||||
Accounts receivable | $ | 981 | $ | (126 | ) | $ | 855 | ||||||
Prepaid expenses and other assets | 334 | 411 | 745 | ||||||||||
Fixed assets | 5,637 | 535 | 6,172 | ||||||||||
Intangible assets | 12,800 | (1,190 | ) | 11,610 | |||||||||
Goodwill | 38,818 | (1,848 | ) | 36,970 | |||||||||
Total assets acquired | 58,570 | (2,218 | ) | 56,352 | |||||||||
Accounts payable and accrued expenses | (3,441 | ) | (401 | ) | (3,842 | ) | |||||||
Deferred revenue and parent deposits | (885 | ) | 18 | (867 | ) | ||||||||
Total liabilities assumed | (4,326 | ) | (383 | ) | (4,709 | ) | |||||||
Purchase price | $ | 54,244 | $ | (2,601 | ) | $ | 51,643 | ||||||
Kidsunlimited Group Limited [Member] | ' | ||||||||||||
Allocation of Purchase Price | ' | ||||||||||||
The purchase price for this acquisition has been allocated based on estimates of the fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands): | |||||||||||||
At acquisition date | Measurement | At acquisition date | |||||||||||
As reported | period | As reported | |||||||||||
June 30, 2013 | adjustments | December 31, 2013 | |||||||||||
Cash | $ | 4,888 | $ | — | $ | 4,888 | |||||||
Accounts receivable | 1,809 | — | 1,809 | ||||||||||
Prepaid expenses and other assets | 2,509 | — | 2,509 | ||||||||||
Fixed assets | 13,901 | (192 | ) | 13,709 | |||||||||
Favorable leases | — | 2,509 | 2,509 | ||||||||||
Intangible assets | 17,442 | 1,071 | 18,513 | ||||||||||
Goodwill | 55,349 | (2,678 | ) | 52,671 | |||||||||
Total assets acquired | 95,898 | 710 | 96,608 | ||||||||||
Accounts payable and accrued expenses | (9,450 | ) | 3,798 | (5,652 | ) | ||||||||
Unfavorable leases | (1,759 | ) | (4,942 | ) | (6,701 | ) | |||||||
Deferred revenue | (12,853 | ) | 8,378 | (4,475 | ) | ||||||||
Other current liabilities | — | (8,378 | ) | (8,378 | ) | ||||||||
Deferred taxes | (2,735 | ) | 245 | (2,490 | ) | ||||||||
Total liabilities assumed | (26,797 | ) | (899 | ) | (27,696 | ) | |||||||
Purchase price | $ | 69,101 | $ | (189 | ) | $ | 68,912 | ||||||
Huntyard Limited [Member] | ' | ||||||||||||
Allocation of Purchase Price | ' | ||||||||||||
The final purchase price for this acquisition has been allocated based on the estimated fair values of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands): | |||||||||||||
Cash | $ | 3,730 | |||||||||||
Accounts receivable | 341 | ||||||||||||
Prepaid expenses and other current assets | 2,880 | ||||||||||||
Fixed assets | 65,843 | ||||||||||||
Intangible assets | 6,004 | ||||||||||||
Goodwill | 48,715 | ||||||||||||
Total assets acquired | 127,513 | ||||||||||||
Accounts payable and accrued expenses | (7,520 | ) | |||||||||||
Taxes payable | (656 | ) | |||||||||||
Deferred revenue and parent deposits | (3,006 | ) | |||||||||||
Deferred taxes | (5,570 | ) | |||||||||||
Total liabilities assumed | (16,752 | ) | |||||||||||
Purchase price | $ | 110,761 | |||||||||||
Summary of Operating Results | ' | ||||||||||||
The operating results for this acquisition are included in the consolidated results of operations from the date of acquisition. The following table presents consolidated pro forma information as if the acquisition of Huntyard had occurred on January 1, 2011 (in thousands): | |||||||||||||
Pro forma (Unaudited) | |||||||||||||
Years ended December 31, | |||||||||||||
2012 | 2011 | ||||||||||||
Revenue | $ | 1,088,378 | $ | 1,016,125 | |||||||||
Net income attributable to Bright Horizons Family Solutions Inc. | $ | 10,329 | $ | 4,804 | |||||||||
Children's Choice Learning Centers Inc and Kidsunlimited Group Limited [Member] | ' | ||||||||||||
Summary of Operating Results | ' | ||||||||||||
The operating results for each of the acquisitions are included in the consolidated results of operations from the respective dates of acquisition. The following table presents consolidated pro forma information as if the acquisitions of Children’s Choice Learning Centers, Inc. and Kidsunlimited had occurred on January 1, 2012 (in thousands): | |||||||||||||
Pro forma (Unaudited) | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Revenue | $ | 1,260,453 | $ | 1,179,168 | |||||||||
Net income attributable to Bright Horizons Family Solutions Inc. | $ | 16,226 | $ | 4,504 |
Prepaid_Expenses_and_Other_Cur1
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ||||||||
Schedule of Prepaid Expenses and Other Current Assets | ' | ||||||||
Prepaid expenses and other current assets consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Prepaid workers compensation insurance | $ | 10,327 | $ | 9,160 | |||||
Prepaid rent and other occupancy costs | 7,515 | 6,354 | |||||||
Prepaid income taxes | 6,678 | 213 | |||||||
Reimbursable costs | 3,916 | 4,060 | |||||||
Favorable leases | 586 | 386 | |||||||
Prepaid insurance | 1,665 | 1,341 | |||||||
Deferred initial public offering costs | — | 2,189 | |||||||
Other prepaid expenses and current assets | 13,334 | 4,124 | |||||||
$ | 44,021 | $ | 27,827 | ||||||
Fixed_Assets_Tables
Fixed Assets (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Summary of Fixed Assets | ' | ||||||||||
Fixed assets consist of the following (dollars in thousands): | |||||||||||
Estimated useful lives | December 31, | ||||||||||
2013 | 2012 | ||||||||||
(Years) | |||||||||||
Buildings | 20 – 40 | $ | 128,715 | $ | 116,157 | ||||||
Furniture, equipment and software | 3 – 10 | 125,713 | 92,919 | ||||||||
Leasehold improvements | Shorter of the lease term | 247,972 | 206,328 | ||||||||
or the estimated useful life | |||||||||||
Land | — | 52,233 | 50,882 | ||||||||
Total fixed assets | 554,633 | 466,286 | |||||||||
Accumulated depreciation and amortization | (163,739 | ) | (125,910 | ) | |||||||
Fixed assets, net | $ | 390,894 | $ | 340,376 | |||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||
The changes in the carrying amount of goodwill are as follows (in thousands): | |||||||||||||||||
Full service | Back-up | Other | Total | ||||||||||||||
center-based | dependent | educational | |||||||||||||||
care | care | advisory | |||||||||||||||
services | |||||||||||||||||
Beginning balance at December 31, 2012 | $ | 817,304 | $ | 159,215 | $ | 20,825 | $ | 997,344 | |||||||||
Additions from acquisitions | 90,299 | — | 3,196 | 93,495 | |||||||||||||
Adjustments to Huntyard acquisition (1) | (857 | ) | — | — | (857 | ) | |||||||||||
Tax benefit from the exercise of continuation options | (674 | ) | (131 | ) | (17 | ) | (822 | ) | |||||||||
Effect of foreign currency translation | 6,062 | 1,061 | — | 7,123 | |||||||||||||
Balance at December 31, 2013 | $ | 912,134 | $ | 160,145 | $ | 24,004 | $ | 1,096,283 | |||||||||
-1 | During the fourth quarter of 2013, the Company recorded an adjustment to the purchase accounting for the Huntyard acquisition which decreased goodwill and increased cash. | ||||||||||||||||
Intangible Assets Subject to Amortization | ' | ||||||||||||||||
The Company also has intangible assets, which consist of the following at December 31, 2013 and 2012 (in thousands): | |||||||||||||||||
Weighted average | Cost | Accumulated | Net carrying | ||||||||||||||
amortization period | amortization | amount | |||||||||||||||
December 31, 2013: | |||||||||||||||||
Definite-lived intangibles: | |||||||||||||||||
Customer relationships | 14.5 years | $ | 400,481 | $ | (153,939 | ) | $ | 246,542 | |||||||||
Trade names | 8.1 years | 6,072 | (1,542 | ) | 4,530 | ||||||||||||
Non-compete agreements | 5 years | 54 | (39 | ) | 15 | ||||||||||||
406,607 | (155,520 | ) | 251,087 | ||||||||||||||
Indefinite-lived intangibles: | |||||||||||||||||
Trade names | N/A | 183,973 | — | 183,973 | |||||||||||||
$ | 590,580 | $ | (155,520 | ) | $ | 435,060 | |||||||||||
Weighted average | Cost | Accumulated | Net carrying | ||||||||||||||
amortization period | amortization | amount | |||||||||||||||
December 31, 2012: | |||||||||||||||||
Definite-lived intangibles: | |||||||||||||||||
Customer relationships | 14.9 years | $ | 370,527 | $ | (124,048 | ) | $ | 246,479 | |||||||||
Trade names | 9.1 years | 3,147 | (883 | ) | 2,264 | ||||||||||||
Non-compete agreements | 5 years | 54 | (33 | ) | 21 | ||||||||||||
373,728 | (124,964 | ) | 248,764 | ||||||||||||||
Indefinite-lived intangibles: | |||||||||||||||||
Trade names | N/A | 183,816 | — | 183,816 | |||||||||||||
$ | 557,544 | $ | (124,964 | ) | $ | 432,580 | |||||||||||
Estimated Future Amortization Expense | ' | ||||||||||||||||
The Company estimates that it will record amortization expense related to intangible assets existing as of December 31, 2013 as follows over the next five years (in thousands): | |||||||||||||||||
Estimated | |||||||||||||||||
amortization | |||||||||||||||||
expense | |||||||||||||||||
2014 | $ | 28,756 | |||||||||||||||
2015 | $ | 26,235 | |||||||||||||||
2016 | $ | 25,271 | |||||||||||||||
2017 | $ | 24,589 | |||||||||||||||
2018 | $ | 23,676 |
Accounts_Payable_and_Accrued_E1
Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Summary of Accounts Payable and Accrued Expenses | ' | ||||||||
Accounts payable and accrued expenses consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Accounts payable | $ | 6,691 | $ | 6,319 | |||||
Accrued payroll and employee benefits | 58,171 | 52,344 | |||||||
Accrued insurance | 15,110 | 13,674 | |||||||
Accrued interest | 1,861 | 1,430 | |||||||
Accrued occupancy costs | 2,167 | 2,336 | |||||||
Accrued professional fees | 1,847 | 2,135 | |||||||
Other accrued expenses | 21,779 | 18,969 | |||||||
$ | 107,626 | $ | 97,207 | ||||||
Other_Current_Liabilities_Tabl
Other Current Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Summary of Other Current Liabilities | ' | ||||||||
Other current liabilities consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Customer amounts on deposit | $ | 15,495 | $ | 6,579 | |||||
Deferred rent and other occupancy costs | 2,133 | 2,085 | |||||||
Unfavorable leases | 681 | 475 | |||||||
Income taxes payable | — | 933 | |||||||
Other liabilities | 1,993 | 2,015 | |||||||
$ | 20,302 | $ | 12,087 | ||||||
Other_LongTerm_Liabilities_Tab
Other Long-Term Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Summary of Other Long-Term Liabilities | ' | ||||||||
Other long-term liabilities consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Customer amounts on deposit | $ | 8,685 | $ | 8,481 | |||||
Liability for uncertain tax positions | 3,647 | 9,966 | |||||||
Other liabilities | 6,674 | 5,270 | |||||||
$ | 19,006 | $ | 23,717 | ||||||
Credit_Arrangements_and_Debt_O1
Credit Arrangements and Debt Obligations (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-Term Debt | ' | ||||||||
Long-term debt consists of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Term loans | $ | 782,100 | $ | — | |||||
Tranche B term loans | — | 346,111 | |||||||
Series C term loans | — | 84,363 | |||||||
Senior subordinated notes | — | 300,000 | |||||||
Senior notes | — | 197,810 | |||||||
Original issue discount and deferred financing costs | (17,877 | ) | (21,641 | ) | |||||
Total debt | 764,223 | 906,643 | |||||||
Less current maturities | 7,900 | 2,036 | |||||||
Long-term debt | $ | 756,323 | $ | 904,607 | |||||
Redeemable_NonControlling_Inte1
Redeemable Non-Controlling Interest (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Noncontrolling Interest [Abstract] | ' | ||||||||
Changes in Redeemable Non-controlling Interest | ' | ||||||||
The following is a reconciliation of the changes in the redeemable non-controlling interest for the years ended December 31, 2013 and 2012 (in thousands): | |||||||||
Years ended December 31, | |||||||||
2013 | 2012 | ||||||||
Balance at beginning of the period | $ | 8,126 | $ | 15,527 | |||||
Sale of 18.5% of interest to BHFS | (8,204 | ) | (7,994 | ) | |||||
Net (loss) income attributable to non-controlling interest | (279 | ) | 347 | ||||||
Effect of foreign currency translation | 357 | 246 | |||||||
Balance at end of period | $ | — | $ | 8,126 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Components of Income (Loss) before Income Taxes | ' | ||||||||||||
Income (loss) before income taxes consists of the following (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States | $ | 5,109 | $ | 6,882 | $ | 3,973 | |||||||
Foreign | (298 | ) | 4,870 | 1,614 | |||||||||
Total | $ | 4,811 | $ | 11,752 | $ | 5,587 | |||||||
Components of Income Tax (Benefit) Expense | ' | ||||||||||||
Income tax (benefit) expense consists of the following (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current tax expense (benefit) | |||||||||||||
Federal | $ | 10,546 | $ | 8,102 | $ | (2,063 | ) | ||||||
State | 591 | 2,361 | 1,517 | ||||||||||
Foreign | (5,260 | ) | 4,434 | 7,120 | |||||||||
5,877 | 14,897 | 6,574 | |||||||||||
Deferred tax (benefit) expense | |||||||||||||
Federal | (9,080 | ) | (9,048 | ) | (1,292 | ) | |||||||
State | (1,179 | ) | (1,453 | ) | 523 | ||||||||
Foreign | (3,151 | ) | (1,153 | ) | (4,980 | ) | |||||||
(13,410 | ) | (11,654 | ) | (5,749 | ) | ||||||||
Income tax (benefit) expense | $ | (7,533 | ) | $ | 3,243 | $ | 825 | ||||||
Reconciliation of Federal Statutory Rate to Effective Rate | ' | ||||||||||||
The following is a reconciliation of the U.S. Federal statutory rate to the effective rate on pretax income (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal tax expense computed at statutory rate | $ | 1,684 | $ | 4,113 | $ | 1,956 | |||||||
State tax (benefit) expense, net of federal tax | (193 | ) | 416 | 1,502 | |||||||||
Valuation allowance, net | 3 | 23 | (5,018 | ) | |||||||||
Permanent differences and other, net | (234 | ) | 551 | 236 | |||||||||
Change in tax rate | (94 | ) | 12 | (1,599 | ) | ||||||||
Change to uncertain tax positions, net | (4,850 | ) | (869 | ) | 4,166 | ||||||||
Foreign rate differential | (3,849 | ) | (1,003 | ) | (418 | ) | |||||||
Income tax (benefit) expense | $ | (7,533 | ) | $ | 3,243 | $ | 825 | ||||||
Components of Net Deferred Tax Liability | ' | ||||||||||||
Significant components of the Company’s net deferred tax liability are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Current deferred tax assets: | |||||||||||||
Reserve on assets | $ | 869 | $ | 679 | |||||||||
Liabilities not yet deductible | 10,874 | 10,095 | |||||||||||
Deferred revenue | 708 | 430 | |||||||||||
Other | 496 | 207 | |||||||||||
12,947 | 11,411 | ||||||||||||
Valuation allowance | (6 | ) | (45 | ) | |||||||||
Net current deferred tax assets | 12,941 | 11,366 | |||||||||||
Non-current deferred tax assets: | |||||||||||||
Net operating loss and credit carryforwards | 1,983 | 1,918 | |||||||||||
Liabilities not yet deductible | 14,264 | 12,806 | |||||||||||
Deferred revenue | 1,090 | 737 | |||||||||||
Stock-based compensation | 11,663 | 9,641 | |||||||||||
Deferred financing costs | — | 1,018 | |||||||||||
Other | 2,519 | 2,410 | |||||||||||
31,519 | 28,530 | ||||||||||||
Valuation allowance | (1,046 | ) | (1,037 | ) | |||||||||
Net non-current deferred tax assets | 30,473 | 27,493 | |||||||||||
Total net deferred tax assets | 43,414 | 38,859 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangible assets | (152,462 | ) | (158,426 | ) | |||||||||
Depreciation | (17,805 | ) | (17,814 | ) | |||||||||
Total deferred tax liabilities | (170,267 | ) | (176,240 | ) | |||||||||
Net deferred tax liability | $ | (126,853 | ) | $ | (137,381 | ) | |||||||
Reconciliation of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 7,412 | $ | 7,933 | $ | 4,420 | |||||||
Additions for tax positions of prior years | 540 | 474 | 4,392 | ||||||||||
Additions for tax positions of current year | — | 879 | 557 | ||||||||||
Settlements | (1,110 | ) | (474 | ) | (1,436 | ) | |||||||
Reductions for tax positions of prior years | (4,108 | ) | (845 | ) | — | ||||||||
Lapses of statutes of limitations | (712 | ) | (778 | ) | — | ||||||||
Effect of foreign currency adjustments | 12 | 223 | — | ||||||||||
Ending balance | $ | 2,034 | $ | 7,412 | $ | 7,933 | |||||||
Stockholders_Equity_and_StockB1
Stockholders' Equity and Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Weighted Average Assumptions for Fair Value of Stock Option | ' | ||||||||||||||||||||||||
The fair value of each stock option of common stock and Class L shares granted was estimated on the date of grant using the Black-Scholes option pricing model using the following weighted average assumptions: | |||||||||||||||||||||||||
Years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Common | Class L | Common | Common | ||||||||||||||||||||||
Stock | Shares | Stock | Stock | ||||||||||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | 0 | % | |||||||||||||||||
Expected stock price volatility | 44.3 | % | 79.2 | % | 79.2 | % | 82 | % | |||||||||||||||||
Risk free interest rate | 1 | % | 0.68 | % | 0.68 | % | 1.2 | % | |||||||||||||||||
Expected life of options (years) | 5.27 | 4.16 | 4.16 | 3.47 | |||||||||||||||||||||
Weighted average fair value per share of options granted during the period | $ | 10.24 | $ | 291.83 | $ | 6.84 | $ | 10.4 | |||||||||||||||||
Common Stock Class L [Member] | ' | ||||||||||||||||||||||||
Reconciliation of Changes in Class L Common Stock | ' | ||||||||||||||||||||||||
The following table reflects the changes in Class L common stock for the three years ended December 31, 2013 (in thousands, except share data): | |||||||||||||||||||||||||
Shares | Shares | Amount | |||||||||||||||||||||||
Issued | Outstanding | ||||||||||||||||||||||||
Class L common stock, balance at December 31, 2010 | 1,318,442 | 1,317,053 | $ | 699,533 | |||||||||||||||||||||
Issuance of Class L common stock | 528 | 528 | 47 | ||||||||||||||||||||||
Accretion of Class L preferred return | — | — | 72,842 | ||||||||||||||||||||||
Class L common stock, balance at December 31, 2011 | 1,318,970 | 1,317,581 | 772,422 | ||||||||||||||||||||||
Issuance of Class L common stock | 18,610 | 18,610 | 1,675 | ||||||||||||||||||||||
Repurchase of Class L common stock | — | (9,076 | ) | (4,643 | ) | ||||||||||||||||||||
Retirement of treasury stock | (10,465 | ) | — | — | |||||||||||||||||||||
Accretion of Class L preferred return | — | — | 84,647 | ||||||||||||||||||||||
Class L common stock, balance at December 31, 2012 | 1,327,115 | 1,327,115 | 854,101 | ||||||||||||||||||||||
Conversion of Class L common stock into Common Stock | (1,327,115 | ) | (1,327,115 | ) | (854,101 | ) | |||||||||||||||||||
Class L common stock, balance at December 31, 2013 | — | — | $ | — | |||||||||||||||||||||
Continuation Options [Member] | ' | ||||||||||||||||||||||||
Stock Option Activity | ' | ||||||||||||||||||||||||
The following table reflects stock option activity for the continuation options for the year ended December 31, 2013: | |||||||||||||||||||||||||
Weighted | Class L Shares | Common Stock | Aggregate | ||||||||||||||||||||||
Average | Intrinsic | ||||||||||||||||||||||||
Remaining | Value | ||||||||||||||||||||||||
Contractual | (In millions) | ||||||||||||||||||||||||
Life in | |||||||||||||||||||||||||
Years | Number | Weighted | Number | Weighted | |||||||||||||||||||||
of | Average | of | Average | ||||||||||||||||||||||
Options | Exercise | Options | Exercise | ||||||||||||||||||||||
Price | Price | ||||||||||||||||||||||||
Outstanding at January 1, 2013 | 0.5 | 4,581 | $ | 90 | 20,924 | $ | 4.93 | ||||||||||||||||||
Conversion of Class L common stock (1) | (4,581 | ) | 90 | 161,221 | 2.56 | ||||||||||||||||||||
Exercised | — | — | (182,145 | ) | 2.83 | $ | 5.1 | ||||||||||||||||||
Outstanding and Exercisable at December 31, 2013 | — | — | $ | — | — | $ | — | $ | — | ||||||||||||||||
-1 | Represents the conversion of Class L common stock into 35.1955 shares of common stock on January 11, 2013. | ||||||||||||||||||||||||
Equity Plan [Member] | ' | ||||||||||||||||||||||||
Stock Option Activity | ' | ||||||||||||||||||||||||
The table below reflects stock option activity under the Company’s equity plan for the year ended December 31, 2013. | |||||||||||||||||||||||||
Weighted | Class L Shares | Common Stock | |||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Remaining | |||||||||||||||||||||||||
Contractual | |||||||||||||||||||||||||
Life in | |||||||||||||||||||||||||
Years | Number | Weighted | Number | Weighted | Aggregate | ||||||||||||||||||||
of | Average | of | Average | Intrinsic | |||||||||||||||||||||
Options | Exercise | Options | Exercise | Value | |||||||||||||||||||||
Price | Price | (In millions) | |||||||||||||||||||||||
Outstanding at January 1, 2013 | 6.8 | 122,077 | $ | 511.51 | 557,464 | $ | 12 | ||||||||||||||||||
Conversion of Class L common stock (1) | (122,077 | ) | 511.51 | 4,296,576 | 14.54 | ||||||||||||||||||||
Granted | — | — | 475,772 | 25.22 | |||||||||||||||||||||
Exercised | — | — | (734,550 | ) | 14.27 | $ | 15.4 | ||||||||||||||||||
Forfeited | — | — | (40,152 | ) | 14.25 | ||||||||||||||||||||
Outstanding at December 31, 2013 | 6.1 | — | $ | — | 4,555,110 | $ | 15.39 | $ | 97.3 | ||||||||||||||||
Exercisable at December 31, 2013 | 5.3 | — | $ | — | 2,890,848 | $ | 14.24 | $ | 65 | ||||||||||||||||
Vested and expected to vest at December 31, 2013 | 6.1 | — | $ | — | 4,471,921 | $ | 15.35 | $ | 95.6 | ||||||||||||||||
-1 | Represents the conversion of Class L common stock into 35.1955 shares of common stock on January 11, 2013. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Basic and Diluted Earnings Per Common Share | ' | ||||||||||||
The computation of basic and diluted earnings per common share is as follows (in thousands, except share and per share amounts): | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income—basic and diluted | $ | 12,623 | $ | 8,162 | $ | 4,759 | |||||||
Accretion of Class L preference | — | 79,211 | 71,568 | ||||||||||
Accretion of Class L preference for vested options | — | 5,436 | 1,274 | ||||||||||
Net income (loss) available to common shareholders | $ | 12,623 | $ | (76,485 | ) | $ | (68,083 | ) | |||||
Allocation of net income (loss) to common shareholders: | |||||||||||||
Class L | $ | — | $ | 79,211 | $ | 71,568 | |||||||
Common stock | $ | 12,623 | $ | (76,485 | ) | $ | (68,083 | ) | |||||
Weighted average number of common shares: | |||||||||||||
Class L—basic and diluted | — | 1,326,206 | 1,317,273 | ||||||||||
Common stock: | |||||||||||||
Basic | 62,659,264 | 6,058,512 | 6,016,733 | ||||||||||
Dilutive effect of stock options | 1,849,772 | — | — | ||||||||||
Diluted | 64,509,036 | 6,058,512 | 6,016,733 | ||||||||||
Earnings (loss) per common share: | |||||||||||||
Class L—basic and diluted | $ | — | $ | 59.73 | $ | 54.33 | |||||||
Common stock: | |||||||||||||
Basic | $ | 0.2 | $ | (12.62 | ) | $ | (11.32 | ) | |||||
Diluted | $ | 0.2 | $ | (12.62 | ) | $ | (11.32 | ) |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Future Minimum Payments under Non-Cancelable Operating Leases | ' | ||||
Future minimum payments under non-cancelable operating leases as of December 31, 2013 are as follows for the years ending December 31 (in thousands): | |||||
2014 | $ | 77,719 | |||
2015 | 75,351 | ||||
2016 | 69,870 | ||||
2017 | 63,192 | ||||
2018 | 58,015 | ||||
Thereafter | 327,117 | ||||
Total future minimum lease payments | $ | 671,264 | |||
Future Minimum Payments of Long-Term Debt | ' | ||||
Future minimum payments of long-term debt are as follows for the years ending December 31 (in thousands): | |||||
2014 | $ | 7,900 | |||
2015 | 7,900 | ||||
2016 | 7,900 | ||||
2017 | 7,900 | ||||
2018 | 7,900 | ||||
Thereafter | 742,600 | ||||
Total future principal payments | $ | 782,100 |
Segment_and_Geographic_Informa1
Segment and Geographic Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Income from Operations by Segment | ' | ||||||||||||||||
The assets and liabilities of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements; therefore, no additional information is produced or included herein. | |||||||||||||||||
Full service | Back-up | Other | Total | ||||||||||||||
center-based | dependent | educational | |||||||||||||||
care | care | advisory | |||||||||||||||
services | |||||||||||||||||
(In thousands) | |||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||
Revenue | $ | 1,049,854 | $ | 144,432 | $ | 24,490 | $ | 1,218,776 | |||||||||
Amortization of intangible assets | 29,048 | 725 | 302 | 30,075 | |||||||||||||
Income from operations (1) | 67,287 | 39,710 | 2,037 | 109,034 | |||||||||||||
Year ended December 31, 2012 | |||||||||||||||||
Revenue | $ | 922,214 | $ | 130,082 | $ | 18,642 | $ | 1,070,938 | |||||||||
Amortization of intangible assets | 25,906 | 725 | 302 | 26,933 | |||||||||||||
Income from operations (2) | 60,154 | 33,863 | 1,447 | 95,464 | |||||||||||||
Year ended December 31, 2011 | |||||||||||||||||
Revenue | $ | 844,595 | $ | 114,502 | $ | 14,604 | $ | 973,701 | |||||||||
Amortization of intangible assets | 25,178 | 1,947 | 302 | 27,427 | |||||||||||||
Income from operations | 58,950 | 28,669 | (783 | ) | 86,836 | ||||||||||||
-1 | For the year ended December 31, 2013, income from operations includes expenses incurred in connection with the Offering completed in January 2013, including a $7.5 million fee for the termination of the management agreement with Bain Capital Partners LLC, and $5.0 million for certain stock options that vested upon completion of the Offering, allocated on a proportionate basis to each segment, $4.0 million of acquisition-related expenses related to full-service center-based care and $1.3 million of costs associated with secondary offerings of common shares ($15.1 million to full service center-based care, $1.9 million to back-up dependent care, and $0.8 million to other educational advisory services). | ||||||||||||||||
-2 | For the year ended December 31, 2012, income from operations includes expenses incurred in connection with the modification of stock options in the amount of $15.1 million and expenses incurred in connection with the Offering completed in January 2013 in the amount of $1.8 million, allocated on a proportionate basis to each segment ($12.5 million to full service center-based care, $3.1 million to back-up dependent care, and $1.3 million to other educational advisory services). | ||||||||||||||||
Revenue and Long-Lived Assets by Geographic Region | ' | ||||||||||||||||
Revenue and long-lived assets by geographic region are as follows (in thousands): | |||||||||||||||||
Years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Revenue | |||||||||||||||||
North America | $ | 980,537 | $ | 901,210 | $ | 843,645 | |||||||||||
Europe and other | 238,239 | 169,728 | 130,056 | ||||||||||||||
Total Revenue | $ | 1,218,776 | $ | 1,070,938 | $ | 973,701 | |||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Long-lived assets | |||||||||||||||||
North America | $ | 260,483 | $ | 230,807 | |||||||||||||
Europe and other | 130,411 | 109,569 | |||||||||||||||
Total long-lived assets | $ | 390,894 | $ | 340,376 |
Quarterly_Results_Unaudited_Ta
Quarterly Results (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information | ' | ||||||||||||||||
The operating results for any quarter are not necessarily indicative of the results of any future quarter. | |||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||
(In thousands) | |||||||||||||||||
Revenue | $ | 280,123 | $ | 310,813 | $ | 308,663 | $ | 319,177 | |||||||||
Gross profit | 65,790 | 75,425 | 68,505 | 71,216 | |||||||||||||
Income from operations | 15,437 | 35,397 | 27,789 | 30,411 | |||||||||||||
Net (loss) income | (50,781 | ) | 24,507 | 14,942 | 23,676 | ||||||||||||
Net (loss) income attributable to Bright Horizons Family Solutions Inc (1) | (50,743 | ) | 24,579 | 15,044 | 23,743 | ||||||||||||
Allocation of net (loss) income to common stockholders – basic and diluted: | |||||||||||||||||
Class L | — | — | — | — | |||||||||||||
Common stock | (50,743 | ) | 24,579 | 15,044 | 23,743 | ||||||||||||
Earnings (loss) per share: | |||||||||||||||||
Class L – basic and diluted | $ | — | $ | — | $ | — | $ | — | |||||||||
Common stock – basic | $ | (0.91 | ) | $ | 0.38 | $ | 0.23 | $ | 0.36 | ||||||||
Common stock – diluted | $ | (0.91 | ) | $ | 0.37 | $ | 0.23 | $ | 0.35 | ||||||||
-1 | Net loss for the quarter ended March 31, 2013 includes a loss of $63.7 million from the extinguishment of debt. Refer to Note 9, “Credit Arrangements and Debt Obligations”, for additional details. | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2012 | 2012 | 2012 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Revenue | $ | 258,122 | $ | 271,463 | $ | 267,927 | $ | 273,426 | |||||||||
Gross profit | 58,020 | 64,553 | 60,092 | 63,105 | |||||||||||||
Income from operations | 26,104 | 16,061 | 25,355 | 27,944 | |||||||||||||
Net income (loss) | 3,590 | (1,914 | ) | 2,606 | 4,227 | ||||||||||||
Net income (loss) attributable to Bright Horizons Family Solutions Inc | 3,509 | (1,967 | ) | 2,446 | 4,174 | ||||||||||||
Allocation of net income (loss) to common stockholders – basic and diluted: | |||||||||||||||||
Class L | 18,513 | 19,590 | 20,298 | 20,810 | |||||||||||||
Common stock | (15,070 | ) | (25,482 | ) | (18,521 | ) | (17,412 | ) | |||||||||
Earnings (loss) per share: | |||||||||||||||||
Class L – basic and diluted | $ | 13.99 | $ | 14.76 | $ | 15.3 | $ | 15.68 | |||||||||
Class stock – basic and diluted | $ | (2.49 | ) | $ | (4.20 | ) | $ | (3.06 | ) | $ | (2.87 | ) |
Organization_and_Significant_A3
Organization and Significant Accounting Policies - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||
Jan. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 11, 2013 | Jan. 11, 2013 | Jan. 11, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 19, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Operate Child Care and Early Education Centers [Member] | Back-up Dependent Care [Member] | Minimum [Member] | Maximum [Member] | Fair Value, Inputs, Level 2 [Member] | Secondary Offering [Member] | Revenue [Member] | Revenue [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | ||||||
Customer | Customer | Customer | Customer | |||||||||||||||
Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued under public offering | 11,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,800,000 | ' | ' | ' | ' |
Proceed from issuance of initial public offering | $233,300,000 | $234,944,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of initial public offering costs | 1,600,000 | 20,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reverse split | ' | ' | ' | ' | ' | 1.9704 | 1.9704 | 1.9704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock conversion ratio, Class L common stock into Class A common stock | ' | ' | ' | ' | 35.1955 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, authorized | ' | 475,000,000 | 14,500,000 | ' | 475,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, authorized | ' | 25,000,000 | 0 | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Offering cost incurred | ' | 141,827,000 | 123,373,000 | 92,938,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' |
Debt issuance, principal amount | 890,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net foreign currency gains | ' | ' | ' | 835,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Debt, Carrying Value | ' | 756,323,000 | 904,607,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 782,100,000 | ' | ' | ' | ' | ' |
Long Term Debt, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 784,100,000 | ' | ' | ' | ' | ' |
Concentration risk percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | 10.00% | ' |
Number of Customer Generating more than 10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Clients accounting for more than benchmark | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Maturity of highly liquid investments | ' | 'Three months or less | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash equivalent investments | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Book overdrafts | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value for each reporting unit, period | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment losses | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment losses | ' | 0 | 400,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite lived intangible assets, estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '17 years | ' | ' | ' | ' | ' | ' |
Fixed asset impairment | ' | 800,000 | 300,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other long term assets, cost basis investment | ' | $2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition interest rate | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service contract length, minimum | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '1 year | ' | ' | ' | ' | ' | ' | ' | ' |
Service contract length, maximum | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '3 years | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum preferred return rate per annum | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Organization_and_Significant_A4
Organization and Significant Accounting Policies - Activity in Allowance for Doubtful Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Regulatory Assets [Abstract] | ' | ' | ' |
Beginning balance | $1,627 | $1,514 | $1,691 |
Provision | 437 | 734 | 1,043 |
Write offs and recoveries | -891 | -621 | -1,220 |
Ending balance | $1,173 | $1,627 | $1,514 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Jul. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Apr. 10, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
United Kingdom [Member] | United Kingdom [Member] | United Kingdom [Member] | United States [Member] | United States [Member] | United States [Member] | Children's Choice Learning Centers [Member] | Children's Choice Learning Centers [Member] | Children's Choice Learning Centers [Member] | Children's Choice Learning Centers [Member] | Children's Choice Learning Centers [Member] | Kidsunlimited Group Limited [Member] | Kidsunlimited Group Limited [Member] | Kidsunlimited Group Limited [Member] | Kidsunlimited Group Limited [Member] | Kidsunlimited Group Limited [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | ||||||||||||
Customer Relationships [Member] | United States [Member] | United States [Member] | Customer Relationships [Member] | United Kingdom [Member] | United Kingdom [Member] | Business | Other Educational Advisory Services [Member] | Full Service Center-based Care [Member] | ||||||||||||||||||||||
Center | Nursery | |||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of centers acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49 | ' | ' | ' | ' | 64 | ' | ' | ' | ' |
Cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $51,600,000 | ' | ' | ' | ' | $68,900,000 | ' | $6,900,000 | ' | ' |
Business acquisition cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | 1,900,000 | ' | ' | ' |
Measurement period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' |
Reduction to the purchase price and goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 1,096,283,000 | ' | ' | ' | 997,344,000 | ' | ' | ' | 1,096,283,000 | 997,344,000 | ' | ' | ' | ' | ' | ' | ' | 36,970,000 | 38,818,000 | ' | ' | ' | 52,671,000 | 55,349,000 | ' | ' | ' | 4,500,000 | 3,200,000 | 1,300,000 |
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 30,075,000 | 26,933,000 | 27,427,000 | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | ' | ' | ' | ' | 16,200,000 | ' | ' | ' | ' | ' |
Amortization period of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | ' | ' | ' | ' | '8 years | ' | ' | ' | ' | ' |
Percentage of share purchase agreement | 100.00% | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' |
Deferred tax liability | 152,462,000 | ' | ' | ' | 158,426,000 | ' | ' | ' | 152,462,000 | 158,426,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' |
Number of businesses acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Cash through acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' |
Intangible assets consisting of customer relationships and trade names | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,610,000 | 12,800,000 | ' | ' | ' | 18,513,000 | 17,442,000 | ' | ' | ' | 3,300,000 | ' | ' |
Working capital in relation to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' |
Fixed assets in relation to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | ' | ' |
Total revenues contributed by acquired business | 319,177,000 | 308,663,000 | 310,813,000 | 280,123,000 | 273,426,000 | 267,927,000 | 271,463,000 | 258,122,000 | 1,218,776,000 | 1,070,938,000 | 973,701,000 | 204,700,000 | 136,100,000 | 110,500,000 | 975,500,000 | 896,100,000 | 838,700,000 | ' | ' | ' | ' | ' | 71,600,000 | ' | ' | ' | ' | ' | ' | ' |
Total acquisitions cost contributed by acquired business | $6,200,000 | ' | ' | ' | ' | ' | ' | ' | $6,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Allocation_of_Pur
Acquisitions - Allocation of Purchase Price (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | 31-May-12 |
In Thousands, unless otherwise specified | Children's Choice Learning Centers [Member] | Children's Choice Learning Centers [Member] | Children's Choice Learning Centers [Member] | Kidsunlimited Group Limited [Member] | Kidsunlimited Group Limited [Member] | Kidsunlimited Group Limited [Member] | Huntyard Limited [Member] | ||
Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | $4,888 | $4,888 | ' | $3,730 |
Accounts receivable | ' | ' | 855 | 981 | -126 | 1,809 | 1,809 | ' | 341 |
Prepaid expenses and other assets | ' | ' | 745 | 334 | 411 | 2,509 | 2,509 | ' | 2,880 |
Fixed assets | ' | ' | 6,172 | 5,637 | 535 | 13,709 | 13,901 | -192 | 65,843 |
Favorable leases | ' | ' | ' | ' | ' | 2,509 | ' | 2,509 | ' |
Intangible assets | ' | ' | 11,610 | 12,800 | -1,190 | 18,513 | 17,442 | 1,071 | 6,004 |
Goodwill | 1,096,283 | 997,344 | 36,970 | 38,818 | -1,848 | 52,671 | 55,349 | -2,678 | 48,715 |
Total assets acquired | ' | ' | 56,352 | 58,570 | -2,218 | 96,608 | 95,898 | 710 | 127,513 |
Accounts payable and accrued expenses | ' | ' | -3,842 | -3,441 | -401 | -5,652 | -9,450 | 3,798 | -7,520 |
Unfavorable leases | ' | ' | ' | ' | ' | -6,701 | -1,759 | -4,942 | ' |
Taxes payable | ' | ' | ' | ' | ' | ' | ' | ' | -656 |
Deferred revenue | ' | ' | ' | ' | ' | -4,475 | -12,853 | 8,378 | ' |
Deferred revenue and parent deposits | ' | ' | -867 | -885 | 18 | ' | ' | ' | -3,006 |
Other current liabilities | ' | ' | ' | ' | ' | -8,378 | ' | -8,378 | ' |
Deferred taxes | ' | ' | ' | ' | ' | -2,490 | -2,735 | 245 | -5,570 |
Total liabilities assumed | ' | ' | -4,709 | -4,326 | -383 | -27,696 | -26,797 | -899 | -16,752 |
Purchase price | ' | ' | $51,643 | $54,244 | ($2,601) | $68,912 | $69,101 | ($189) | $110,761 |
Acquisitions_Summary_of_Operat
Acquisitions - Summary of Operating Results (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Children's Choice Learning Centers Inc and Kidsunlimited Group Limited [Member] | Children's Choice Learning Centers Inc and Kidsunlimited Group Limited [Member] | Huntyard Limited [Member] | Huntyard Limited [Member] | |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Revenue | $1,260,453 | $1,179,168 | $1,088,378 | $1,016,125 |
Net income attributable to Bright Horizons Family Solutions Inc. | $16,226 | $4,504 | $10,329 | $4,804 |
Acquisitions_2012_Acquisitions
Acquisitions - 2012 Acquisitions - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | 31-May-12 | 31-May-12 | 31-May-12 | 31-May-12 |
Huntyard Limited [Member] | Huntyard Limited [Member] | Huntyard Limited [Member] | Huntyard Limited [Member] | Huntyard Limited [Member] | |||
Customer Relationships [Member] | Non Tax Deductible [Member] | United Kingdom [Member] | |||||
Center | |||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of centers acquired | ' | ' | ' | ' | ' | ' | 27 |
Cash paid for business acquisition | ' | ' | ' | ' | ' | ' | $110,800,000 |
Goodwill acquired | 1,096,283,000 | 997,344,000 | ' | 48,715,000 | ' | ' | ' |
Other intangible assets acquired | ' | ' | ' | 6,004,000 | 6,004,000 | ' | ' |
Intangible asset useful life | ' | ' | ' | ' | '5 years | ' | ' |
Deferred tax liability acquired | ' | ' | ' | 5,570,000 | ' | 1,500,000 | ' |
Acquisition related costs | ' | ' | 500,000 | ' | ' | ' | ' |
Total revenues contributed by acquired business | ' | ' | $26,300,000 | ' | ' | ' | ' |
Acquisitions_2011_Acquisitions
Acquisitions - 2011 Acquisitions - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||
Dec. 31, 2013 | Nov. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Nov. 30, 2012 | Nov. 23, 2012 | Jul. 31, 2011 | Mar. 14, 2011 | Dec. 31, 2011 | Jul. 20, 2011 | Jul. 20, 2011 | Jul. 20, 2011 | |
Netherlands [Member] | Netherlands [Member] | Netherlands [Member] | Netherlands [Member] | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | |||||
Center | Netherlands [Member] | Netherlands [Member] | Netherlands [Member] | ||||||||||
Center | Minimum [Member] | Maximum [Member] | |||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of centers acquired | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' | 20 | ' | ' |
Cash consideration | ' | ' | ' | ' | ' | ' | ' | ' | $27,600,000 | ' | $29,900,000 | ' | ' |
Tangible assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 | ' | 9,400,000 | ' | ' |
Liabilities assumed | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 6,159,000 | 4,600,000 | ' | ' |
Goodwill acquired | 1,096,283,000 | ' | 1,096,283,000 | 997,344,000 | ' | ' | ' | ' | 23,400,000 | 62,917,000 | 39,500,000 | ' | ' |
Other intangible assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | 3,400,000 | ' | ' |
Intangible assets, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | '4 years | '10 years |
Ownership interest acquired | 100.00% | ' | 100.00% | ' | 37.00% | ' | ' | 63.00% | ' | ' | 63.00% | ' | ' |
Non-controlling interest | 18.50% | ' | 18.50% | 18.50% | 18.50% | 18.50% | 18.50% | ' | ' | ' | 37.00% | ' | ' |
Percentage of non-controlling interest | 18.50% | 18.50% | 18.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-controlling interest | 4,100,000 | 3,900,000 | -4,066,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-controlling interest recorded | ' | ' | ' | ' | ' | ' | 3,900,000 | ' | ' | 17,063,000 | 17,100,000 | ' | ' |
Deferred tax liabilities acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' |
Acquisition related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' |
Revenues contributed from acquired businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,000,000 | ' | ' | ' |
Proforma revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 992,200,000 | ' | ' | ' |
Proforma net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7,100,000 | ' | ' | ' |
Acquisitions_Fair_Value_of_Ass
Acquisitions - Fair Value of Assets Acquired (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 14, 2011 |
In Thousands, unless otherwise specified | 2011 Acquisitions [Member] | 2011 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Cash paid, net of cash acquired | ' | ' | $57,228 | ' |
Liabilities assumed | ' | ' | 6,159 | 800 |
Non-controlling interest | ' | ' | 17,063 | ' |
Goodwill recognized | -1,096,283 | -997,344 | -62,917 | -23,400 |
Purchase price | ' | ' | $17,533 | ' |
Prepaid_Expenses_and_Other_Cur2
Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ' |
Prepaid workers compensation insurance | $10,327 | $9,160 |
Prepaid rent and other occupancy costs | 7,515 | 6,354 |
Prepaid income taxes | 6,678 | 213 |
Reimbursable costs | 3,916 | 4,060 |
Favorable leases | 586 | 386 |
Prepaid insurance | 1,665 | 1,341 |
Deferred initial public offering costs | ' | 2,189 |
Other prepaid expenses and current assets | 13,334 | 4,124 |
Prepaid expenses and other current assets | $44,021 | $27,827 |
Fixed_Assets_Summary_of_Fixed_
Fixed Assets - Summary of Fixed Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Leasehold improvements | 'Shorter of the lease term or the estimated useful life | ' | ' |
Buildings | ' | $128,715 | $116,157 |
Furniture, equipment and software | ' | 125,713 | 92,919 |
Leasehold improvements | ' | 247,972 | 206,328 |
Land | ' | 52,233 | 50,882 |
Total fixed assets | ' | 554,633 | 466,286 |
Accumulated depreciation and amortization | ' | -163,739 | -125,910 |
Fixed assets, net | ' | $390,894 | $340,376 |
Buildings [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Fixed assets, useful life | '20 years | ' | ' |
Buildings [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Fixed assets, useful life | '40 years | ' | ' |
Furniture, Equipment and Software [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Fixed assets, useful life | '3 years | ' | ' |
Furniture, Equipment and Software [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Fixed assets, useful life | '10 years | ' | ' |
Fixed_Assets_Additional_Inform
Fixed Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation expense | $42.70 | $34.40 | $28 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Goodwill [Line Items] | ' |
Beginning balance | $997,344 |
Additions from acquisitions | 93,495 |
Adjustments to Huntyard acquisition | -857 |
Tax benefit from the exercise of continuation options | -822 |
Effect of foreign currency translation | 7,123 |
Ending balance | 1,096,283 |
Full Service Center-based Care [Member] | ' |
Goodwill [Line Items] | ' |
Beginning balance | 817,304 |
Additions from acquisitions | 90,299 |
Adjustments to Huntyard acquisition | -857 |
Tax benefit from the exercise of continuation options | -674 |
Effect of foreign currency translation | 6,062 |
Ending balance | 912,134 |
Back-up Dependent Care [Member] | ' |
Goodwill [Line Items] | ' |
Beginning balance | 159,215 |
Tax benefit from the exercise of continuation options | -131 |
Effect of foreign currency translation | 1,061 |
Ending balance | 160,145 |
Other Educational Advisory Services [Member] | ' |
Goodwill [Line Items] | ' |
Beginning balance | 20,825 |
Additions from acquisitions | 3,196 |
Tax benefit from the exercise of continuation options | -17 |
Ending balance | $24,004 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Intangible Assets Subject to Amortization (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Intangible Assets [Line Items] | ' | ' |
Cost | $590,580 | $557,544 |
Accumulated amortization | -155,520 | -124,964 |
Net carrying amount | 435,060 | 432,580 |
Cost | 406,607 | 373,728 |
Accumulated amortization | -155,520 | -124,964 |
Net carrying amount | 251,087 | 248,764 |
Customer Relationship [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Weighted average amortization period | '14 years 6 months | '14 years 10 months 24 days |
Cost | 400,481 | 370,527 |
Accumulated amortization | -153,939 | -124,048 |
Net carrying amount | 246,542 | 246,479 |
Trade Names [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Weighted average amortization period | '8 years 1 month 6 days | '9 years 1 month 6 days |
Cost | 6,072 | 3,147 |
Accumulated amortization | -1,542 | -883 |
Net carrying amount | 4,530 | 2,264 |
Non-Compete Agreements [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Weighted average amortization period | '5 years | '5 years |
Cost | 54 | 54 |
Accumulated amortization | -39 | -33 |
Net carrying amount | 15 | 21 |
Trade Names [Member] | ' | ' |
Intangible Assets [Line Items] | ' | ' |
Weighted average amortization period | ' | ' |
Cost | 183,973 | 183,816 |
Net carrying amount | $183,973 | $183,816 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization expense | $30,075 | $26,933 | $27,427 |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets - Estimated Amortization Expense Related to Intangible Assets (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
2014 | $28,756 |
2015 | 26,235 |
2016 | 25,271 |
2017 | 24,589 |
2018 | $23,676 |
Accounts_Payable_and_Accrued_E2
Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Payables And Accruals [Abstract] | ' | ' |
Accounts payable | $6,691 | $6,319 |
Accrued payroll and employee benefits | 58,171 | 52,344 |
Accrued insurance | 15,110 | 13,674 |
Accrued interest | 1,861 | 1,430 |
Accrued occupancy costs | 2,167 | 2,336 |
Accrued professional fees | 1,847 | 2,135 |
Other accrued expenses | 21,779 | 18,969 |
Accounts payable and accrued expenses | $107,626 | $97,207 |
Other_Current_Liabilities_Summ
Other Current Liabilities - Summary of Other Current Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Payables And Accruals [Abstract] | ' | ' |
Customer amounts on deposit | $15,495 | $6,579 |
Deferred rent and other occupancy costs | 2,133 | 2,085 |
Unfavorable leases | 681 | 475 |
Income taxes payable | ' | 933 |
Other liabilities | 1,993 | 2,015 |
Other current liabilities | $20,302 | $12,087 |
Other_LongTerm_Liabilities_Sum
Other Long-Term Liabilities - Summary of Other Long-Term Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ' | ' |
Customer amounts on deposit | $8,685 | $8,481 |
Liability for uncertain tax positions | 3,647 | 9,966 |
Other liabilities | 6,674 | 5,270 |
Other long-term liabilities | $19,006 | $23,717 |
Credit_Arrangements_and_Debt_O2
Credit Arrangements and Debt Obligations - Schedule of Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | 31-May-12 | Dec. 31, 2012 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Term Loan [Member] | Tranche B Term Loan [Member] | Series C Term Loans [Member] | Series C Term Loans [Member] | Senior Subordinated Notes [Member] | Senior Notes [Member] | ||
Schedule Of Borrowings [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes | ' | ' | $782,100 | $346,111 | $84,363 | ' | $300,000 | $197,810 |
Original issue discount and deferred financing costs | -17,877 | -21,641 | ' | ' | ' | -400 | ' | ' |
Total debt | 764,223 | 906,643 | ' | ' | ' | ' | ' | ' |
Less current maturities | 7,900 | 2,036 | ' | ' | ' | ' | ' | ' |
Long-term debt | $756,323 | $904,607 | ' | ' | ' | ' | ' | ' |
Credit_Arrangements_and_Debt_O3
Credit Arrangements and Debt Obligations - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Jan. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-12 | Jan. 30, 2013 | Mar. 31, 2013 | Jan. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 30, 2013 | 28-May-08 | Dec. 31, 2013 | Dec. 31, 2012 | 28-May-08 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-12 | Dec. 31, 2013 | 31-May-12 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2009 | Dec. 31, 2013 | |
Minimum [Member] | Bank Base Rate [Member] | Eurodollar Rate [Member] | Federal Funds Effective Rate [Member] | BHFS LLC [Member] | Term Loan Facility [Member] | Term Loan Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Term Loans [Member] | Term Loans [Member] | Term Loans [Member] | Term Loans [Member] | Revolving Credit Facilities [Member] | Revolving Credit Facilities [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Series C Term Loans [Member] | Series C Term Loans [Member] | Series C Term Loans [Member] | 2008 Debt Agreements [Member] | Tranche B Term Loans and Revolving Credit Facility [Member] | Federal Funds Effective Rate [Member] | Federal Funds Effective Rate [Member] | Federal Funds Effective Rate [Member] | Prime Rate (the Base Rate) [Member] | Prime Rate (the Base Rate) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Minimum [Member] | Maximum [Member] | Bank Base Rate [Member] | Bank Base Rate [Member] | Eurodollar Rate [Member] | Eurodollar Rate [Member] | Bank Base Rate [Member] | Interest Rate Cap [Member] | Interest Rate Cap [Member] | Revolving Credit Facility [Member] | Tranche B Term Loan [Member] | Series C Term Loans [Member] | Tranche B Term Loan [Member] | Series C Term Loans [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Tranche B Term Loan [Member] | Series C Term Loans [Member] | |||||||||||||||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Interest Rate Cap [Member] | Interest Rate Cap [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, principal amount | $890,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $790,000,000 | ' | $100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $110,000,000 | $110,000,000 | ' | $300,000,000 | $300,000,000 | ' | ' | ' | $365,000,000 | ' | ' | ' | ' | ' | ' | $85,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, quarterly principal payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 912,500 | ' | ' | ' | ' | 212,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance principal payments, final payment date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Jan-20 | ' | 30-Jan-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28-Nov-18 | ' | ' | 28-May-18 | ' | ' | ' | ' | 28-May-15 | ' | ' | ' | ' | 23-May-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance interest rate, percentage added to base | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.00% | 2.75% | 3.00% | 2.75% | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.50% | 0.50% | 3.00% | 3.25% | 4.00% | ' | ' | 4.25% |
Interest rate description | ' | ' | ' | ' | ' | 'Borrowings under the term loan facility bear interest at a rate per annum ranging from 1.75% to 2.0% over the Base Rate or 2.75% to 3.0% over the Eurocurrency Rate defined in the credit agreement. Borrowings under our revolving facility bear interest at a rate per annum equal to 1.75% over the Base Rate or 2.75% over the Eurocurrency Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Base rate description | ' | ' | ' | ' | ' | 'The Base Rate is the highest of (1)B the prime rate of Goldman Sachs Bank USA, (2)B the federal funds effective rate plus 0.5% and (3)B the Eurocurrency Rate with a one month interest period plus 1.0%. The Eurocurrency Rate option is the one, two, three or six month LIBOR rate, as selected by the Borrower, or, with the approval of the applicable lenders, the nine, twelve or less than one month LIBOR rate. The Base Rate is subject to an interest rate floor of 2.0% and the Eurocurrency Rate is subject to an interest rate floor of 1.0%, both only with respect to the term loan facility. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Highest Base rate condition 2 | ' | ' | ' | ' | ' | ' | ' | 1.00% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate floor (Base rate) | ' | ' | ' | ' | ' | ' | 2.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fees percentage on unused portion of revolving credit facility | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective interest rate for the term loans | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, weighted average interest rate | ' | ' | 4.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.30% | 5.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding on the revolving credit facility | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in revolving credit facility | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding borrowings | 972,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to redeem debt, including redemption premium | 41,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | -63,682,000 | 63,700,000 | -63,682,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 790,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing fees | ' | ' | 12,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original issue discount costs in connection with refinance | ' | ' | 7,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of deferred financing costs | ' | ' | 1,700,000 | 3,700,000 | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense of original issuance discount costs | ' | ' | 1,000,000 | 3,100,000 | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line credit facility, maximum borrowing capacity | ' | ' | 440,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental facility available borrowed | ' | ' | 140,800,000 | ' | ' | ' | ' | ' | ' | 85,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, termination date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28-May-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance principal payments, commencement date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Sep-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, Prepaid principal | ' | ' | 7,900,000 | 5,472,000 | 4,933,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,800,000 | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance base rate, floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | 2.00% | 3.50% | ' | ' | 1.00% |
Debt issuance, outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 197,810,000 | ' | ' | 300,000,000 | ' | ' | ' | 346,111,000 | ' | ' | ' | ' | 84,363,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, interest rate at end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.20% | ' | ' | ' | ' | 5.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' |
Interest rate cap, percentage added to base | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' |
Interest rate derivative, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' |
Interest rate derivative, original cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' |
Change in the fair value of the interest rate cap | ' | ' | ' | -67,000 | -641,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,400,000 | ' | ' | 29,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, original issue discount | ' | ' | 17,877,000 | 21,641,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | 20,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, fixed interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.00% | ' | 11.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance, accumulated Interest | ' | ' | $1,861,000 | $1,430,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $87,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet1
Redeemable Noncontrolling Interest - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Nov. 30, 2012 | Nov. 23, 2012 | Jul. 31, 2011 |
Netherlands [Member] | Netherlands [Member] | Netherlands [Member] | Netherlands [Member] | |||
Redeemable Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' |
Ownership interest acquired | 100.00% | ' | 37.00% | ' | ' | 63.00% |
Noncontrolling interest | 18.50% | 18.50% | 18.50% | 18.50% | 18.50% | ' |
Noncontrolling interest recorded | ' | ' | ' | ' | $3,900,000 | ' |
Non controlling Interests Acquired | ' | ' | $4,100,000 | ' | ' | ' |
Recovered_Sheet2
Redeemable Non-controlling Interest - Changes in Redeemable Non-controlling Interest (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Noncontrolling Interest [Abstract] | ' | ' | ' |
Balance at beginning of the period | $8,126 | $15,527 | ' |
Sale of 18.5% of interest to BHFS | -8,204 | -7,994 | ' |
Net (loss) income attributable to non-controlling interest | -279 | 347 | 3 |
Effect of foreign currency translation | 357 | 246 | ' |
Balance at end of period | ' | $8,126 | $15,527 |
Redeemable_Noncontrolling_Inte2
Redeemable Non-controlling Interest - Changes in Redeemable Non-controlling Interest (Parenthetical) (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Noncontrolling Interest [Abstract] | ' | ' |
Minority Interest, percentage | 18.50% | 18.50% |
Income_Taxes_Income_Loss_Befor
Income Taxes - Income (Loss) Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $5,109 | $6,882 | $3,973 |
Foreign | -298 | 4,870 | 1,614 |
Income before income taxes | $4,811 | $11,752 | $5,587 |
Income_Taxes_Income_Tax_Benefi
Income Taxes - Income Tax (Benefit) Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current tax expense (benefit) | ' | ' | ' |
Federal | $10,546 | $8,102 | ($2,063) |
State | 591 | 2,361 | 1,517 |
Foreign | -5,260 | 4,434 | 7,120 |
Current tax expense (benefit) | 5,877 | 14,897 | 6,574 |
Deferred tax (benefit) expense | ' | ' | ' |
Federal | -9,080 | -9,048 | -1,292 |
State | -1,179 | -1,453 | 523 |
Foreign | -3,151 | -1,153 | -4,980 |
Deferred tax (benefit) expense | -13,410 | -11,654 | -5,749 |
Income tax (benefit) expense | ($7,533) | $3,243 | $825 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Federal Statutory Rate to Effective Rate (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal tax expense computed at statutory rate | $1,684 | $4,113 | $1,956 |
State tax (benefit) expense, net of federal tax | -193 | 416 | 1,502 |
Valuation allowance, net | 3 | 23 | -5,018 |
Permanent differences and other, net | -234 | 551 | 236 |
Change in tax rate | -94 | 12 | -1,599 |
Change to uncertain tax positions, net | -4,850 | -869 | 4,166 |
Foreign rate differential | -3,849 | -1,003 | -418 |
Income tax (benefit) expense | ($7,533) | $3,243 | $825 |
Income_Taxes_Components_of_Net
Income Taxes - Components of Net Deferred Tax Liability (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Net non-current deferred tax assets | $236 | $132 |
Net current deferred tax assets | 12,873 | 11,367 |
Total net deferred tax assets | 43,414 | 38,859 |
Deferred tax liabilities: | ' | ' |
Intangible assets | -152,462 | -158,426 |
Depreciation | -17,805 | -17,814 |
Total deferred tax liabilities | -170,267 | -176,240 |
Net deferred tax liability | -126,853 | -137,381 |
Current Assets [Member] | ' | ' |
Deferred tax assets: | ' | ' |
Reserve on assets | 869 | 679 |
Liabilities not yet deductible | 10,874 | 10,095 |
Deferred revenue | 708 | 430 |
Other | 496 | 207 |
Deferred tax assets, gross | 12,947 | 11,411 |
Valuation allowance | -6 | -45 |
Net current deferred tax assets | 12,941 | 11,366 |
Non-Current Assets [Member] | ' | ' |
Deferred tax assets: | ' | ' |
Net operating loss and credit carryforwards | 1,983 | 1,918 |
Liabilities not yet deductible | 14,264 | 12,806 |
Deferred revenue | 1,090 | 737 |
Stock-based compensation | 11,663 | 9,641 |
Deferred financing costs | ' | 1,018 |
Other | 2,519 | 2,410 |
Deferred tax assets, gross | 31,519 | 28,530 |
Valuation allowance | -1,046 | -1,037 |
Net non-current deferred tax assets | $30,473 | $27,493 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Deferred tax asset, net operating losses, foreign | $1,500,000 | ' | ' |
Deferred tax asset, net operating loss, state | 500,000 | ' | ' |
Deferred tax liability | 170,267,000 | 176,240,000 | ' |
Undistributed earnings of foreign subsidiaries | 27,600,000 | ' | ' |
Likelihood for being realized upon settlement | 50.00% | ' | ' |
Income tax expense, interest and penalties related to tax positions | 100,000 | 300,000 | 800,000 |
Liability for interest and penalties | 1,600,000 | 2,600,000 | ' |
Unrecognized tax benefits that would impact the effective tax rate | 1,500,000 | ' | ' |
Minimum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Change in uncertain tax positions | 0 | ' | ' |
Maximum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Change in uncertain tax positions | 1,000,000 | ' | ' |
Foreign [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Net operating loss, expiration | 'Begin to expire in 2031 | ' | ' |
Net operating loss | 9,500,000 | ' | ' |
Foreign [Member] | Valuation Allowance, Other Tax Carryforward [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Net operating loss | 7,800,000 | ' | ' |
Valuation allowance, net operating losses | 1,000,000 | ' | ' |
Foreign [Member] | Minimum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Statute of limitations | '1 year | ' | ' |
Foreign [Member] | Maximum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Statute of limitations | '7 years | ' | ' |
State [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Net operating loss, expiration | 'Expiration dates through 2031 | ' | ' |
Number of income tax audits pending | 2 | ' | ' |
Tax year subject to audit, start | '2008 | ' | ' |
Tax year subject to audit, end | '2013 | ' | ' |
State [Member] | Federal Changes [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Statute of limitations | '1 year | ' | ' |
State [Member] | Minimum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Statute of limitations | '3 years | ' | ' |
State [Member] | Maximum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Statute of limitations | '5 years | ' | ' |
Federal State and Foreign [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Deferred tax liability | $3,200,000 | ' | ' |
Income_Taxes_Reconciliation_of1
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Beginning balance | $7,412 | $7,933 | $4,420 |
Additions for tax positions of prior years | 540 | 474 | 4,392 |
Additions for tax positions of current year | ' | 879 | 557 |
Settlements | -1,110 | -474 | -1,436 |
Reductions for tax positions of prior years | -4,108 | -845 | ' |
Lapses of statutes of limitations | -712 | -778 | ' |
Effect of foreign currency adjustments | 12 | 223 | ' |
Ending balance | $2,034 | $7,412 | $7,933 |
Stockholders_Equity_and_StockB2
Stockholder's Equity and Stock-Based Compensation - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
Jan. 30, 2013 | Sep. 21, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 11, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 11, 2013 | Jan. 11, 2013 | 2-May-12 | Dec. 31, 2013 | Dec. 31, 2013 | 2-May-12 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 24, 2013 | Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | 2-May-12 | 2-May-12 | 2-May-12 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | 28-May-08 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | 28-May-08 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 28-May-08 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
2008 Equity Incentive Plan [Member] | Minimum [Member] | Maximum [Member] | Board of Directors Chairman [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock [Member] | Common Stock [Member] | Undesignated Preferred Stock [Member] | 2012 Omnibus Long-Term Incentive Plan [Member] | 2012 Omnibus Long-Term Incentive Plan [Member] | Stock Option Exchange [Member] | Stock Option Exchange [Member] | Stock Option Exchange [Member] | Stock Option Exchange [Member] | Stock Option Exchange [Member] | Stock Option Exchange [Member] | Vested Stock Options [Member] | Option awards granted in prior years [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Continuation Options [Member] | Pre-Merger Options [Member] | Five Year Service Period Based Stock Option [Member] | Five Year Service Period Based Stock Option [Member] | Five Year Service Period Based Stock Option [Member] | Five Year Service Period Based Stock Option [Member] | Five Year Service Period Based Stock Option [Member] | |||||||
2008 Equity Incentive Plan [Member] | 2008 Equity Incentive Plan [Member] | Common Stock [Member] | Common Stock Class L [Member] | Common Stock [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Second Anniversary [Member] | Third Anniversary [Member] | Fourth Anniversary [Member] | Fifth Anniversary [Member] | ||||||||||||||||||||||||||||||||||
Shareholders Equity And Share Based Payments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse split ratio of class A common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.9704 | 1.9704 | ' | 1.9704 | ' | ' | ' | ' | ' | ' | 1.9704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock conversion ratio, Class L common stock into Class A common stock | ' | ' | ' | ' | ' | 35.1955 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued under initial public offering | 11,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,610 | 528 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of preferred stock issuable by BOD | ' | ' | 25,000,000 | 0 | ' | 25,000,000 | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Preferred stock , outstanding | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reclassified, authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, Issued | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | ' | ' | 0 | 41,454 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,076 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares retired | ' | $600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option expiration | ' | ' | ' | ' | ' | ' | ' | '7 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Requisite service period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | 20.00% | 20.00% | 20.00% |
Ratable\Cliff vesting period | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options, exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 711,389 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exchange, acquired options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 413,953 | ' | ' | 90,630 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuation options, shares of Class A common stock acquired for every one share of Class L common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.9 | 4.6 | 1 | ' | ' | ' | ' | 4.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options, exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12 | ' | ' | $511.51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options, unrecognized compensation cost | ' | ' | 7,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | ' | ' | 10,700,000 | 17,600,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 400,000 | 13,400,000 | ' | ' | ' | 3,500,000 | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options unrecognized compensation cost, period of recognition | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax benefit related to share based compensation | ' | ' | 4,300,000 | 7,100,000 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | 5,000,000 | 15,100,000 | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options to purchase common stock | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based liabilities | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,555,110 | ' | ' | 122,077 | ' | ' | ' | 4,555,110 | 557,464 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,777 | ' | 4,581 | ' | ' | ' | ' | 20,924 | 472,709 | ' | ' | ' | ' | ' |
Shares called by options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,890,848 | ' | ' | ' | ' | ' | ' | 2,890,848 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 122,303 | ' | ' | ' | 26,777 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised options, aggregate intrinsic value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,400,000 | 200,000 | ' | ' | ' | ' | ' | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised options, fair value of options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $511.51 | $472.70 | ' | ' | ' | $12 | $17.77 | ' | ' | ' | ' | ' | ' |
Fair value of options that vested | ' | ' | 9,100,000 | 4,900,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from exercise of stock options | ' | ' | 11,000,000 | 2,100,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit realized from exercise of stock options | ' | ' | $5,900,000 | $3,400,000 | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_and_StockB3
Stockholders' Equity and Stock-Based Compensation - Reconciliation of Changes in Class L Common Stock (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jan. 30, 2013 | Sep. 21, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stockholders Equity [Line Items] | ' | ' | ' | ' | ' |
Class L common stock, balance at beginning of period | ' | ' | 1,327,115 | ' | ' |
Issuance of Class L common stock | 11,600,000 | ' | ' | ' | ' |
Class L common stock, balance at end of period | ' | ' | 0 | 1,327,115 | ' |
Class L common stock, balance at beginning of period | ' | ' | 1,327,115 | ' | ' |
Issuance of Class L common stock | 11,600,000 | ' | ' | ' | ' |
Repurchase of Class L common stock | ' | ' | 0 | -41,454 | 0 |
Retirement of treasury stock | ' | $600 | ' | ' | ' |
Class L common stock, balance at end of period | ' | ' | 0 | 1,327,115 | ' |
Repurchase of Class L common stock | ' | ' | ' | -497 | ' |
Retirement of treasury stock | ' | -600 | ' | ' | ' |
Common Stock Class L [Member] | ' | ' | ' | ' | ' |
Stockholders Equity [Line Items] | ' | ' | ' | ' | ' |
Class L common stock, balance at beginning of period | ' | ' | 1,327,115 | 1,318,970 | 1,318,442 |
Conversion of Class L common stock into Common Stock | ' | ' | -1,327,115 | ' | ' |
Issuance of Class L common stock | ' | ' | ' | 18,610 | 528 |
Retirement of treasury stock | ' | ' | ' | -10,465 | ' |
Class L common stock, balance at end of period | ' | ' | ' | 1,327,115 | 1,318,970 |
Class L common stock, balance at beginning of period | ' | ' | 1,327,115 | 1,317,581 | 1,317,053 |
Conversion of Class L common stock into Common Stock | ' | ' | -1,327,115 | ' | ' |
Issuance of Class L common stock | ' | ' | ' | 18,610 | 528 |
Repurchase of Class L common stock | ' | ' | ' | -9,076 | ' |
Retirement of treasury stock | ' | ' | ' | ' | ' |
Accretion of Class L preferred return | ' | ' | ' | 84,647 | 72,842 |
Class L common stock, balance at end of period | ' | ' | ' | 1,327,115 | 1,317,581 |
Class L common stock, balance at beginning of period | ' | ' | 854,101 | 772,422 | 699,533 |
Conversion of Class L common stock into Common Stock | ' | ' | -854,101 | ' | ' |
Issuance of Class L common stock | ' | ' | ' | 1,675 | 47 |
Repurchase of Class L common stock | ' | ' | ' | -4,643 | ' |
Retirement of treasury stock | ' | ' | ' | ' | ' |
Accretion of Class L preferred return | ' | ' | ' | 84,647 | 72,842 |
Class L common stock, balance at end of period | ' | ' | ' | $854,101 | 772,422 |
Stockholders_Equity_and_StockB4
Stockholders' Equity and Stock-Based Compensation - Stock Option Activity (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Outstanding and Exercisable, years, duration | '5 years 3 months 18 days | ' | ' |
Continuation Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Outstanding and Exercisable, years, duration | '0 years | ' | ' |
Outstanding, years, duration | ' | '6 months | ' |
Exercised | ' | $8.40 | $0.20 |
Common Stock Class L [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Conversion of Class L common stock | -122,077 | ' | ' |
Outstanding at beginning of period | 122,077 | ' | ' |
Exercised | ' | ' | ' |
Outstanding at beginning of period | 511.51 | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | ' |
Conversion of Class L common stock | 511.51 | ' | ' |
Exercised | ' | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | ' |
Common Stock Class L [Member] | Continuation Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Conversion of Class L common stock | -4,581 | ' | ' |
Exercised | ' | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | 4,581 |
Conversion of Class L common stock | 90 | ' | ' |
Exercised | ' | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | $90 |
Common Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Conversion of Class L common stock | 4,296,576 | ' | ' |
Outstanding at beginning of period | 557,464 | ' | ' |
Exercised | -734,550 | ' | ' |
Outstanding at beginning of period | 12 | ' | ' |
Outstanding and Exercisable at end of period | 4,555,110 | ' | ' |
Conversion of Class L common stock | 14.54 | ' | ' |
Exercised | 14.27 | ' | ' |
Outstanding and Exercisable at end of period | 15.39 | ' | ' |
Outstanding at beginning of period | ' | ' | ' |
Conversion of Class L common stock | ' | ' | ' |
Exercised | 15.4 | ' | ' |
Common Stock [Member] | Continuation Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Conversion of Class L common stock | 161,221 | ' | ' |
Exercised | -182,145 | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | 20,924 |
Conversion of Class L common stock | 2.56 | ' | ' |
Exercised | 2.83 | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | $4.93 |
Conversion of Class L common stock | ' | ' | ' |
Exercised | 5.1 | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | ' |
Stockholders_Equity_and_StockB5
Stockholders' Equity and Stock-Based Compensation - Stock Option Activity (Parenthetical) (Detail) (Common Stock Class L [Member]) | 1 Months Ended |
Jan. 11, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Conversion of Class L common stock | 35.1955 |
Continuation Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Conversion of Class L common stock | 35.1955 |
Stockholders_Equity_and_StockB6
Stockholders' Equity and Stock-Based Compensation - Weighted Average Assumptions for Fair Value of Stock Option (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common Stock [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used [Line Items] | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected stock price volatility | 44.30% | 79.20% | 82.00% |
Risk free interest rate | 1.00% | 0.68% | 1.20% |
Expected life of options (years) | '5 years 3 months 7 days | '4 years 1 month 28 days | '3 years 5 months 19 days |
Weighted average fair value per share of options granted during the period | $10.24 | $6.84 | $10.40 |
Common Stock Class L [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used [Line Items] | ' | ' | ' |
Expected dividend yield | ' | 0.00% | ' |
Expected stock price volatility | ' | 79.20% | ' |
Risk free interest rate | ' | 0.68% | ' |
Expected life of options (years) | ' | '4 years 1 month 28 days | ' |
Weighted average fair value per share of options granted during the period | ' | $291.83 | ' |
Stockholders_Equity_and_StockB7
Stockholders' Equity and Stock-Based Compensation - Stock Option Activity Under Equity Plan (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 11, 2013 | Dec. 31, 2013 |
Common Stock [Member] | Common Stock Class L [Member] | Common Stock Class L [Member] | |||
Equity [Line Items] | ' | ' | ' | ' | ' |
Outstanding, years, duration | '6 years 1 month 6 days | '6 years 9 months 18 days | ' | ' | ' |
Exercisable, years, duration | '5 years 3 months 18 days | ' | ' | ' | ' |
Vested and expected to vest, years, duration | '6 years 1 month 6 days | ' | ' | ' | ' |
Outstanding at beginning of period | ' | ' | 557,464 | ' | 122,077 |
Conversion of Class L common stock | ' | ' | 4,296,576 | ' | -122,077 |
Granted | ' | ' | 475,772 | ' | ' |
Exercised | ' | ' | -734,550 | ' | ' |
Forfeited | ' | ' | -40,152 | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | 4,555,110 | ' | ' |
Exercisable at end of period | ' | ' | 2,890,848 | ' | ' |
Vested and expected to vest at December 31, 2013 | ' | ' | 4,471,921 | ' | ' |
Outstanding at beginning of period | ' | ' | $12 | ' | $511.51 |
Conversion of Class L common stock | ' | ' | $14.54 | ' | $511.51 |
Granted | ' | ' | $25.22 | ' | ' |
Exercised | ' | ' | $14.27 | ' | ' |
Forfeited | ' | ' | $14.25 | ' | ' |
Outstanding and Exercisable at end of period | ' | ' | $15.39 | ' | ' |
Exercisable at end of period | ' | ' | $14.24 | ' | ' |
Vested and expected to vest at end of period | ' | ' | $15.35 | ' | ' |
Outstanding at beginning of period | ' | ' | ' | ' | ' |
Conversion of Class L common stock | ' | ' | ' | ' | ' |
Granted | ' | ' | ' | ' | ' |
Exercised | ' | ' | 15.4 | ' | ' |
Forfeited | ' | ' | ' | ' | ' |
Outstanding at December 31, 2013 | ' | ' | 97.3 | ' | ' |
Exercisable at December 31, 2013 | ' | ' | 65 | ' | ' |
Vested and expected to vest at end of period | ' | ' | $95.60 | ' | ' |
Conversion of Class L common stock | ' | ' | ' | 35.1955 | ' |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income-basic and diluted | $23,743 | $15,044 | $24,579 | ($50,743) | $4,174 | $2,446 | ($1,967) | $3,509 | $12,623 | $8,162 | $4,759 |
Accretion of Class L preference | ' | ' | ' | ' | ' | ' | ' | ' | ' | 84,647 | 72,842 |
Net income (loss) available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 12,623 | -76,485 | -68,083 |
Allocation of net income (loss) to common shareholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocation of net income (loss) to common stockholders-basic and diluted | 23,743 | 15,044 | 24,579 | -50,743 | 4,174 | 2,446 | -1,967 | 3,509 | 12,623 | 8,162 | 4,759 |
Earnings (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings (loss) per common share-basic and diluted: Class L-basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Class L [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income-basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,211 | 71,568 |
Allocation of net income (loss) to common shareholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocation of net income (loss) to common stockholders-basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,211 | 71,568 |
Weighted average number of common shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average number of common shares: Class L-basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,326,206 | 1,317,273 |
Earnings (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings (loss) per common share-basic and diluted: Class L-basic and diluted | ' | ' | ' | ' | $15.68 | $15.30 | $14.76 | $13.99 | ' | $59.73 | $54.33 |
Common Stock Class L [Member] | Nonvested [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of Class L preference | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,211 | 71,568 |
Common Stock Class L [Member] | Vested [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of Class L preference | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,436 | 1,274 |
Common Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income-basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | 12,623 | -76,485 | -68,083 |
Allocation of net income (loss) to common shareholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocation of net income (loss) to common stockholders-basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | $12,623 | ($76,485) | ($68,083) |
Common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | 62,659,264 | 6,058,512 | 6,016,733 |
Dilutive effect of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 1,849,772 | ' | ' |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 64,509,036 | 6,058,512 | 6,016,733 |
Earnings (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings (loss) per common share-basic and diluted: Class L-basic and diluted | ' | ' | ' | ' | ($2.87) | ($3.06) | ($4.20) | ($2.49) | ' | ' | ' |
Common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.36 | $0.23 | $0.38 | ($0.91) | ' | ' | ' | ' | $0.20 | ($12.62) | ($11.32) |
Diluted | $0.35 | $0.23 | $0.37 | ($0.91) | ' | ' | ' | ' | $0.20 | ($12.62) | ($11.32) |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) (Employee Stock Option [Member]) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Stock [Member] | ' | ' | ' |
Earnings Per Share [Line Items] | ' | ' | ' |
Options to Purchase Common Stock Shares Outstanding excluded from diluted earnings per share | 0.1 | 0.6 | 0.8 |
Common Stock Class L [Member] | ' | ' | ' |
Earnings Per Share [Line Items] | ' | ' | ' |
Options to Purchase Common Stock Shares Outstanding excluded from diluted earnings per share | ' | 0.1 | 23,191 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 02, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Overdraft Facility [Member] | Maximum [Member] | |
LetterOfCredit | Bank Base Rate [Member] | Dutch Bank [Member] | Dutch Bank [Member] | Dutch Bank [Member] | Dutch Bank [Member] | Dutch Bank [Member] | Dutch Bank [Member] | United Kingdom Bank [Member] | United Kingdom Bank [Member] | United Kingdom Bank [Member] | ||||
USD ($) | EUR (€) | USD ($) | EUR (€) | EUR (€) | USD ($) | EUR (€) | USD ($) | |||||||
LetterOfCredit | LetterOfCredit | |||||||||||||
Contingencies And Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating leases, years until expiration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years |
Rent expense | $76,800,000 | $62,800,000 | $57,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available overdraft facility for maximum borrowing | 440,000,000 | ' | ' | ' | ' | ' | ' | ' | 5,200,000 | ' | 400,000 | 300,000 | ' | ' |
Declines in monthly increment | ' | ' | ' | ' | 250,000 | 3,450,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding on the revolving credit facility | 0 | ' | ' | ' | 700,000 | 500,000 | 700,000 | 500,000 | ' | ' | ' | 0 | 0 | ' |
Number of letters of credit outstanding | 22 | ' | ' | ' | 21 | 21 | 21 | 21 | ' | ' | ' | ' | ' | ' |
Rent payments | ' | ' | ' | ' | ' | ' | 1,000,000 | 700,000 | ' | ' | ' | ' | ' | ' |
Amounts drawn against letters of credit | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Available overdraft facility for borrowing | ' | ' | ' | ' | ' | 2,500,000 | ' | 2,500,000 | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | 4.10% | ' | ' | ' | 5.61% | 5.61% | 5.61% | 5.61% | ' | 5.95% | ' | ' | ' | ' |
Interest rate of overdraft facility | ' | ' | ' | 2.15% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit, amount guaranteed | $1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Payments under Non-Cancelable Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $77,719 |
2015 | 75,351 |
2016 | 69,870 |
2017 | 63,192 |
2018 | 58,015 |
Thereafter | 327,117 |
Total future minimum lease payments | $671,264 |
Commitments_and_Contingencies_3
Commitments and Contingencies - Future Minimum Payments of Long-term Debt (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $7,900 |
2015 | 7,900 |
2016 | 7,900 |
2017 | 7,900 |
2018 | 7,900 |
Thereafter | 742,600 |
Total future principal payments | $782,100 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Y | |||
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | ' | ' | ' |
Retirement plan funding, percentage | 50.00% | ' | ' |
Retirement plan employer matching contribution, percentage | 25.00% | ' | ' |
Retirement plan maximum annual contribution per employee, percentage | 8.00% | ' | ' |
Retirement plan Company contributions and administrative expenses | $2.10 | $2 | $1.80 |
Retirement savings plan, age to be eligible | 20.5 | ' | ' |
Federal Changes [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | ' | ' | ' |
Retirement savings plan, eligibility period | '60 days | ' | ' |
Retirement savings plan, eligibility service hours | '160 hours | ' | ' |
Scenario Two [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items] | ' | ' | ' |
Retirement savings plan, eligibility period | '12 months | ' | ' |
Retirement savings plan, eligibility service hours | '1000 hours | ' | ' |
Segment_and_Geographic_Informa2
Segment and Geographic Information - Income from Operations by Segment (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $319,177 | $308,663 | $310,813 | $280,123 | $273,426 | $267,927 | $271,463 | $258,122 | $1,218,776 | $1,070,938 | $973,701 |
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 30,075 | 26,933 | 27,427 |
Income from operations | 30,411 | 27,789 | 35,397 | 15,437 | 27,944 | 25,355 | 16,061 | 26,104 | 109,034 | 95,464 | 86,836 |
Operating Segments [Member] | Full Service Center-based Care [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,049,854 | 922,214 | 844,595 |
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 29,048 | 25,906 | 25,178 |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 67,287 | 60,154 | 58,950 |
Operating Segments [Member] | Back-up Dependent Care [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 144,432 | 130,082 | 114,502 |
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 725 | 725 | 1,947 |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 39,710 | 33,863 | 28,669 |
Operating Segments [Member] | Other Educational Advisory Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 24,490 | 18,642 | 14,604 |
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 302 | 302 | 302 |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | $2,037 | $1,447 | ($783) |
Segment_and_Geographic_Informa3
Segment and Geographic Information - Income from Operations by Segment (Parenthetical) (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' |
Operating income loss | $5 | $15.10 |
Expenses incurred in connection with the Offering | 1.3 | 1.8 |
Sponsor [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Agreement termination fee | 7.5 | ' |
Full Service Center-based Care [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Acquisition related expenses | 4 | ' |
Contract termination and stock option expenses | 15.1 | ' |
Expenses incurred in connection with the modification of stock options | ' | 12.5 |
Back-up Dependent Care [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Contract termination and stock option expenses | 1.9 | ' |
Expenses incurred in connection with the modification of stock options | ' | 3.1 |
Other Educational Advisory Services [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Contract termination and stock option expenses | 0.8 | ' |
Expenses incurred in connection with the modification of stock options | ' | $1.30 |
Segment_and_Geographic_Informa4
Segment and Geographic Information - Revenue and Long-Lived Assets by Geographic Region (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $319,177 | $308,663 | $310,813 | $280,123 | $273,426 | $267,927 | $271,463 | $258,122 | $1,218,776 | $1,070,938 | $973,701 |
Long-lived assets | 390,894 | ' | ' | ' | 340,376 | ' | ' | ' | 390,894 | 340,376 | ' |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 980,537 | 901,210 | 843,645 |
Long-lived assets | 260,483 | ' | ' | ' | 230,807 | ' | ' | ' | 260,483 | 230,807 | ' |
Europe and Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 238,239 | 169,728 | 130,056 |
Long-lived assets | $130,411 | ' | ' | ' | $109,569 | ' | ' | ' | $130,411 | $109,569 | ' |
Segment_and_Geographic_Informa5
Segment and Geographic Information - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $319,177 | $308,663 | $310,813 | $280,123 | $273,426 | $267,927 | $271,463 | $258,122 | $1,218,776 | $1,070,938 | $973,701 |
Long-lived assets | 390,894 | ' | ' | ' | 340,376 | ' | ' | ' | 390,894 | 340,376 | ' |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 975,500 | 896,100 | 838,700 |
Long-lived assets | 257,800 | ' | ' | ' | 227,800 | ' | ' | ' | 257,800 | 227,800 | ' |
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 204,700 | 136,100 | 110,500 |
Long-lived assets | $108,900 | ' | ' | ' | $92,300 | ' | ' | ' | $108,900 | $92,300 | ' |
Transactions_with_Related_Part1
Transactions with Related Parties - Additional Information (Detail) (Sponsor [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Sponsor [Member] | ' |
Related Party Transaction [Line Items] | ' |
Annual payment under the agreement | $2.50 |
Agreement expiration date | 31-May-18 |
Agreement termination fee | $7.50 |
Percentage of common stock held by investment funds affiliated with sponsor | 64.20% |
Quarterly_Results_Unaudited_Sc
Quarterly Results (Unaudited) - Schedule of Quarterly Financial Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $319,177 | $308,663 | $310,813 | $280,123 | $273,426 | $267,927 | $271,463 | $258,122 | $1,218,776 | $1,070,938 | $973,701 |
Gross profit | 71,216 | 68,505 | 75,425 | 65,790 | 63,105 | 60,092 | 64,553 | 58,020 | 280,936 | 245,770 | 207,201 |
Income from operations | 30,411 | 27,789 | 35,397 | 15,437 | 27,944 | 25,355 | 16,061 | 26,104 | 109,034 | 95,464 | 86,836 |
Net (loss) income | 23,676 | 14,942 | 24,507 | -50,781 | 4,227 | 2,606 | -1,914 | 3,590 | 12,344 | 8,509 | 4,762 |
Net (loss) income attributable to Bright Horizons Family Solutions Inc | 23,743 | 15,044 | 24,579 | -50,743 | 4,174 | 2,446 | -1,967 | 3,509 | 12,623 | 8,162 | 4,759 |
Earnings (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class L - basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Class L [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income attributable to Bright Horizons Family Solutions Inc | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,211 | 71,568 |
Common stock | ' | ' | ' | ' | 20,810 | 20,298 | 19,590 | 18,513 | ' | ' | ' |
Earnings (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class L - basic and diluted | ' | ' | ' | ' | $15.68 | $15.30 | $14.76 | $13.99 | ' | $59.73 | $54.33 |
Common Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income attributable to Bright Horizons Family Solutions Inc | ' | ' | ' | ' | ' | ' | ' | ' | 12,623 | -76,485 | -68,083 |
Common stock | $23,743 | $15,044 | $24,579 | ($50,743) | ($17,412) | ($18,521) | ($25,482) | ($15,070) | ' | ' | ' |
Earnings (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class L - basic and diluted | ' | ' | ' | ' | ($2.87) | ($3.06) | ($4.20) | ($2.49) | ' | ' | ' |
Common stock - basic | $0.36 | $0.23 | $0.38 | ($0.91) | ' | ' | ' | ' | $0.20 | ($12.62) | ($11.32) |
Common stock - diluted | $0.35 | $0.23 | $0.37 | ($0.91) | ' | ' | ' | ' | $0.20 | ($12.62) | ($11.32) |
Quarterly_Results_Unaudited_Sc1
Quarterly Results (Unaudited) - Schedule of Quarterly Financial Information (Parenthetical) (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | ($63,682) | $63,700 | ($63,682) | ' | ' |