Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2018 | Feb. 06, 2019 | |
Document and Entity Information | ||
Entity Registrant Name | LIVERAMP HOLDINGS, INC. | |
Entity Central Index Key | 733,269 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 68,203,284 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q3 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2018 | Mar. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 1,546,774 | $ 140,018 |
Trade accounts receivable, net | 71,906 | 52,047 |
Refundable income taxes | 0 | 9,977 |
Other current assets | 27,366 | 20,173 |
Assets held for sale | 0 | 138,374 |
Total current assets | 1,646,046 | 360,589 |
Property and equipment, net of accumulated depreciation and amortization | 24,587 | 32,340 |
Software, net of accumulated amortization | 8,027 | 13,970 |
Goodwill | 204,671 | 203,639 |
Deferred income taxes | 149 | 10,703 |
Deferred commissions, net | 9,478 | 0 |
Other assets, net | 34,560 | 37,854 |
Assets held for sale | 0 | 550,402 |
Total assets | 1,927,518 | 1,209,497 |
Current liabilities: | ||
Current installments of long-term debt | 0 | 1,583 |
Trade accounts payable | 25,125 | 18,759 |
Accrued payroll and related expenses | 13,960 | 13,774 |
Other accrued expenses | 55,135 | 39,624 |
Deferred revenue | 2,929 | 4,506 |
Income taxes payable | 443,590 | 0 |
Liabilities held for sale | 0 | 100,353 |
Total current liabilities | 540,739 | 178,599 |
Long-term debt | 0 | 227,837 |
Deferred income taxes | 178 | 40,243 |
Other liabilities | 26,985 | 10,016 |
Other liabilities held for sale | 0 | 3,707 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 14,084 | 13,609 |
Additional paid-in capital | 1,366,221 | 1,235,679 |
Retained earnings | 1,715,066 | 628,331 |
Accumulated other comprehensive income | 7,891 | 10,767 |
Treasury stock, at cost | (1,743,646) | (1,139,291) |
Total equity | 1,359,616 | 749,095 |
TOTAL LIABILITIES AND EQUITY | $ 1,927,518 | $ 1,209,497 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | ||||
Revenues | $ 80,021 | $ 59,121 | $ 207,304 | $ 159,891 |
Cost of revenue | 34,838 | 24,526 | 82,958 | 72,596 |
Gross profit | 45,183 | 34,595 | 124,346 | 87,295 |
Operating expenses: | ||||
Research and development | 20,469 | 14,311 | 54,379 | 44,750 |
Sales and marketing | 40,054 | 27,832 | 109,317 | 77,904 |
General and administrative | 27,828 | 20,929 | 71,128 | 68,240 |
Gains, losses and other items, net | 5,043 | 5,534 | 2,042 | |
Gains, losses, and other items, net | (788) | |||
Total operating expenses | 93,394 | 62,284 | 240,358 | 192,936 |
Loss from operations | (48,211) | (27,689) | (116,012) | (105,641) |
Other income (expense): | ||||
Total other income | 10,404 | 432 | 10,479 | 115 |
Loss from continuing operations before income taxes | (37,807) | (27,257) | (105,533) | (105,526) |
Income taxes (benefit) | (22,546) | (29,791) | (21,274) | (54,980) |
Net loss from continuing operations | (15,261) | 2,534 | (84,259) | (50,546) |
Earnings (loss) from discontinued operations, net of tax | 1,071,661 | 20,407 | 1,158,267 | 68,851 |
Net earnings | $ 1,056,400 | $ 22,941 | $ 1,074,008 | $ 18,305 |
Basic loss per share: | ||||
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (0.20) | $ 0.03 | $ (1.09) | $ (0.64) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 13.85 | 0.26 | 14.99 | 0.87 |
Basic earnings (loss) per share (in USD per share) | 13.65 | 0.29 | 13.90 | 0.23 |
Diluted earnings (loss) per share: | ||||
Diluted earnings (loss) per share from continuing operations (in dollars per share) | (0.20) | 0.03 | (1.09) | (0.64) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 13.85 | 0.25 | 14.99 | 0.87 |
Diluted earnings (loss), net per share (in USD per share) | $ 13.65 | $ 0.28 | $ 13.90 | $ 0.23 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings | $ 1,056,400 | $ 22,941 | $ 1,074,008 | $ 18,305 |
Other comprehensive income (loss): | ||||
Change in foreign currency translation adjustment | (2,301) | 416 | (2,876) | 1,827 |
Comprehensive loss | $ 1,054,099 | $ 23,357 | $ 1,071,132 | $ 20,132 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENT OF EQUITY - 9 months ended Dec. 31, 2018 - USD ($) $ in Thousands | Total | Common Stock | Additional paid-in Capital | Retained earnings | Accumulated other comprehensive income (loss) | Treasury Stock |
Balance, beginning of the period (in shares) at Mar. 31, 2018 | 136,079,676 | (58,304,917) | ||||
Balance, beginning of the period at Mar. 31, 2018 | $ 749,095 | $ 13,609 | $ 1,235,679 | $ 628,331 | $ 10,767 | $ (1,139,291) |
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 1,122,879 | (953,523) | ||||
Employee stock awards, benefit plans and other issuances | (19,551) | $ 112 | 17,243 | $ (36,906) | ||
Non-cash stock-based compensation (in shares) | 334,225 | |||||
Non-cash stock-based compensation | 113,713 | $ 33 | 113,680 | |||
Restricted stock units vested (in shares) | 3,300,959 | |||||
Restricted stock units vested | 0 | $ 330 | (330) | |||
Warrant exercises | 0 | (51) | $ 51 | |||
Warrant exercises (in shares) | 3,488 | |||||
Acquisition of treasury stock (in shares) | (2,253,265) | |||||
Acquisition of treasury stock | $ (64,107) | $ (64,107) | ||||
Acquisition of treasury stock from tender offer (in shares) | (11,235,955) | |||||
Acquisition of treasury stock from tender offer | $ (503,393) | $ (503,393) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (2,876) | (2,876) | ||||
Net earnings | 1,074,008 | 1,074,008 | ||||
Balance, end of the period (in shares) at Dec. 31, 2018 | 140,837,739 | (72,744,172) | ||||
Balance, end of the period at Dec. 31, 2018 | $ 1,359,616 | $ 14,084 | $ 1,366,221 | $ 1,715,066 | $ 7,891 | $ (1,743,646) |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | ||
Net earnings | $ 1,074,008 | $ 18,305 |
Earnings from discontinued operations, net of tax | (1,158,267) | (68,851) |
Adjustments to reconcile net earnings to net cash used in operating activities: | ||
Depreciation and amortization | 25,274 | 28,255 |
Loss on disposal or impairment of assets | 3,345 | 2,303 |
Provision for doubtful accounts | 1,259 | 322 |
Accelerated deferred debt costs | 0 | 720 |
Deferred income taxes | 20,723 | (19,425) |
Non-cash stock compensation expense | 61,547 | 38,844 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (35,011) | (9,818) |
Deferred commissions | (3,035) | 0 |
Other assets | 654 | 2,365 |
Accounts payable and other liabilities | (29,274) | 1,786 |
Deferred revenue | (1,555) | |
Net cash used in operating activities | (40,332) | (4,755) |
Cash flows from investing activities: | ||
Capitalized software development costs | (1,322) | (1,720) |
Capital expenditures | (3,973) | (5,249) |
Equity investments | (2,500) | (1,000) |
Net cash received from disposition | 0 | 4,000 |
Net cash used in investing activities | (7,795) | (3,969) |
Cash flows from financing activities: | ||
Proceeds from debt | 0 | 230,000 |
Payments of debt | (233,293) | (226,732) |
Fees for debt refinancing | (300) | (4,001) |
Sale of common stock | 17,355 | 15,309 |
Shares repurchased for tax withholdings upon vesting of stock-based awards | (36,906) | (10,202) |
Acquisition of treasury stock | (64,107) | (39,441) |
Acquisition of treasury stock from tender offer | (503,393) | 0 |
Net cash used in financing activities | (820,644) | (35,067) |
Net cash used in continuing operations | (868,771) | (43,791) |
Cash flows from discontinued operations | ||
From operating activities | 40,980 | 81,369 |
From investing activities | 2,236,530 | (30,934) |
Effect of exchange rate changes on cash | (172) | 175 |
Net cash provided by discontinued operations | 2,277,338 | 50,610 |
Net cash provided by (used in) continuing and discontinued operations | 1,408,567 | 6,819 |
Effect of exchange rate changes on cash | (1,811) | 868 |
Net change in cash and cash equivalents | 1,406,756 | 7,687 |
Cash and cash equivalents at beginning of period | 140,018 | 168,680 |
Cash and cash equivalents at end of period | 1,546,774 | 176,367 |
Cash paid during the period for: | ||
Income taxes, net of refunds | (239) | (362) |
Leasehold improvements paid directly by lessor | $ 0 | $ 978 |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | 9 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: On September 20, 2018, we implemented a holding company reorganization, as a result of which Acxiom Holdings, Inc. became the successor issuer to Acxiom Corporation. On October 1, 2018, we changed our name to LiveRamp Holdings, Inc. ("LiveRamp"). References to "we", "us", "our", "Registrant", or the "Company" for events that occurred prior to September 20, 2018 refer to Acxiom Corporation and its subsidiaries; for events that occurred from September 20, 2018 to October 1, 2018, to Acxiom Holdings, Inc. and its subsidiaries; and after October 1, 2018, to LiveRamp Holdings, Inc. and its subsidiaries. These condensed consolidated financial statements have been prepared by LiveRamp, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Registrant’s management, all adjustments necessary for a fair presentation of the results for the periods included have been made, and the disclosures are adequate to make the information presented not misleading. All such adjustments are of a normal recurring nature. Certain note information has been omitted because it has not changed significantly from that reflected in Notes 1 through 18 of the Notes to Consolidated Financial Statements filed as part of Item 8 of the Registrant’s annual report on Form 10-K for the fiscal year ended March 31, 2018 (“2018 Annual Report”), as filed with the SEC on May 25, 2018. This quarterly report and the accompanying condensed consolidated financial statements should be read in connection with the 2018 Annual Report. The financial information contained in this quarterly report is not necessarily indicative of the results to be expected for any other period or for the full fiscal year ending March 31, 2019. Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). Actual results could differ from those estimates. Certain of the accounting policies used in the preparation of these condensed consolidated financial statements are complex and require management to make judgments and/or significant estimates regarding amounts reported or disclosed in these financial statements. Additionally, the application of certain of these accounting policies is governed by complex accounting principles and their interpretation. A discussion of the Company’s significant accounting principles and their application is included in Note 1 of the Notes to Consolidated Financial Statements and in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, of the Company’s 2018 Annual Report. Accounting Pronouncements Adopted During the Current Year In May 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-09, "Compensation-Stock Compensation (Topic 719): Scope of Modification Accounting" ("ASU 2017-09"). ASU 2017-09 clarifies when changes to the terms or conditions of a stock-based payment award must be accounted for as modifications. ASU 2017-09 will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. Under ASU 2017-09, an entity will not apply modification accounting to a stock-based payment award if the award's fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. ASU 2017-09 will be applied prospectively to awards modified on or after the adoption date. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. ASU 2017-09 is effective for the Company beginning in fiscal 2019. We adopted the standard in the current fiscal year, and adoption of this guidance did not have a material impact on our condensed consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. Topic 606 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of the new guidance is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted Topic 606 as of April 1, 2018 using the modified retrospective method. See Note 2 for further details. Recent Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"), which eliminates step two from the goodwill impairment test. Under ASU 2017-04, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years; earlier adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), as a comprehensive new standard that amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. The new standard will require lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases except short-term leases. For lessees, leases will continue to be classified as either operating or financing in the income statement. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. Lessors will continue to classify leases as operating, direct financing or sales-type leases. Subsequently, the FASB has issued various ASU's to provide further clarification around aspects of Topic 842, including an alternative method that permits application of the new guidance at the beginning of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption, in addition to the method of applying the new guidance retrospectively to each prior reporting period presented. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years, with early adoption permitted. We will adopt the new standard on April 1, 2019 using the modified retrospective approach. The Company is continuing to evaluate the impact of the adoption of this guidance on its consolidated financial statements and related disclosures. We plan to take advantage of the transition package of practical expedients permitted within the new standard, which will allow us to carry forward the historical lease classification, to not reassess whether any existing contracts are or contain leases and to not reassess initial direct costs for any existing leases. We also plan to make policy elections not to apply the balance sheet recognition requirements for qualifying short-term leases and not to separate non-lease components, as applicable, to our facility leases. We are currently assessing whether to elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. |
TOPIC 606 ADOPTION IMPACT AND R
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: (Notes) | 9 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Topic 606 Adoption Impact and Revenue from Contracts with Customers | TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: On April 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of April 1, 2018. Results for reporting periods beginning after April 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic reporting under Topic 605. Under Topic 606, revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation We recorded a net increase to our opening retained earnings of $12.7 million, net of tax, due to the cumulative impact of adopting Topic 606, with the impact primarily related to the capitalization of costs of obtaining customer contracts. The details of the significant changes and quantitative impact of the changes are disclosed below. Costs of Obtaining Customer Contracts The Company previously recognized commission payments made for obtaining a contract as an operating expense when incurred. Under Topic 606, the Company capitalizes incremental costs to acquire contracts and amortizes them over the expected period of benefit, which we have determined to be four years. As of December 31, 2018, the remaining unamortized contract costs were $9.5 million and are included in deferred commissions, net, in the condensed consolidated balance sheet. Net capitalized costs of $3.0 million were recorded as a reduction to operating expense for the nine months ended December 31, 2018. No impairment was recognized for the nine months ended December 31, 2018. Impacts on Financial Statements Condensed Consolidated Balance Sheet Impact of changes in accounting policies As reported December 31, 2018 Adjustments Balances without adoption of Topic 606 Deferred income taxes 149 2,256 2,405 Deferred commissions, net 9,478 (9,478) — Others 1,917,891 — 1,917,891 Total assets $ 1,927,518 $ (7,222) $ 1,920,296 Total liabilities 567,902 — 567,902 Retained earnings 1,715,066 (7,222) 1,707,844 Other equity (355,450) — (355,450) Total equity 1,359,616 (7,222) 1,352,394 Total liabilities and equity $ 1,927,518 $ (7,222) $ 1,920,296 Condensed Consolidated Statement of Operations Impact of changes in accounting policies As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 Revenues $ 207,304 $ — $ 207,304 Cost of revenue 82,958 — 82,958 Gross profit $ 124,346 $ — $ 124,346 Operating expenses: Sales and marketing $ 109,317 $ 3,035 $ 112,352 Other operating expenses 131,041 — 131,041 Total operating expenses 240,358 3,035 243,393 Loss from operations (116,012) (3,035) (119,047) Total other income 10,479 — 10,479 Loss from continuing operations before income taxes (105,533) (3,035) (108,568) Income taxes (benefit) (21,274) (722) (21,996) Net loss from continuing operations $ (84,259) $ (2,313) $ (86,572) Condensed Consolidated Statement of Comprehensive Income Impact of changes in accounting policies As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 Net earnings $ 1,074,008 $ (2,313) $ 1,071,695 Other comprehensive loss: Change in foreign currency translation adjustment (2,876) — (2,876) Comprehensive income $ 1,071,132 $ (2,313) $ 1,068,819 Condensed Consolidated Statement of Cash Flows Impact of changes in accounting policies As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 Net earnings $ 1,074,008 $ (2,313) $ 1,071,695 Earnings from discontinued operations (1,158,267) — (1,158,267) Adjustments for: Deferred income taxes 20,723 (722) 20,001 Others 91,425 — 91,425 Changes in: Accounts receivable, net (35,011) — (35,011) Deferred commissions (3,035) 3,035 — Other assets 654 — 654 Accounts payable and other liabilities (29,274) — (29,274) Deferred revenue (1,555) — (1,555) Net cash from operating activities (40,332) — (40,332) Net cash from investing activities (7,795) — (7,795) Net cash from financing activities (820,644) — (820,644) Net cash from discontinued operations 2,277,338 — 2,277,338 Effect of exchange rate changes on cash (1,811) — (1,811) Net change in cash and cash equivalents 1,406,756 — 1,406,756 Cash and cash equivalents at beginning of period 140,018 — 140,018 Cash and cash equivalents at end of period $ 1,546,774 $ — $ 1,546,774 Disaggregation of Revenue In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). For the nine months ended December 31, Primary Geographical Markets 2018 2017 United States $ 189,997 $ 143,937 Europe 13,858 12,916 APAC 3,449 3,038 $ 207,304 $ 159,891 Major Offerings/Services Subscription 171,184 125,157 Marketplace and Other 36,120 34,734 $ 207,304 $ 159,891 Transaction Price Allocated to the Remaining Performance Obligations We have performance obligations associated with fixed commitments in customer contracts for future services that have not yet been recognized in our condensed consolidated financial statements. The amount of fixed revenue not yet recognized was $335.1 million as of December 31, 2018. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2021 with the balance recognized thereafter. |
EARNINGS (LOSS) PER SHARE AND S
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY | 9 Months Ended |
Dec. 31, 2018 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | EARNINGS PER SHARE AND STOCKHOLDERS’ EQUITY: Earnings Per Share A reconciliation of the numerator and denominator of basic and diluted earnings per share is shown below (in thousands, except per share amounts): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Basic earnings per share: Net earnings (loss) from continuing operations $ (15,261) $ 2,534 $ (84,259) $ (50,546) Earnings from discontinued operations, net of tax 1,071,661 20,407 1,158,267 68,851 Net earnings $ 1,056,400 $ 22,941 $ 1,074,008 $ 18,305 Basic weighted-average shares outstanding 77,398 79,043 77,260 78,983 Continuing operations $ (0.20) $ 0.03 $ (1.09) $ (0.64) Discontinued operations 13.85 0.26 14.99 0.87 Basic earnings per share $ 13.65 $ 0.29 $ 13.90 $ 0.23 Diluted earnings per share: Basic weighted-average shares outstanding 77,398 79,043 77,260 78,983 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — 2,826 — — Diluted weighted-average shares outstanding 77,398 81,869 77,260 78,983 Continuing operations $ (0.20) $ 0.03 $ (1.09) $ (0.64) Discontinued operations 13.85 0.25 14.99 0.87 Diluted earnings per share $ 13.65 $ 0.28 $ 13.90 $ 0.23 Due to the net loss from continuing operations during the three months ended December 31, 2018, the dilutive effect of options, warrants and restricted stock units covering 3.3 million shares of common stock was excluded from the diluted loss per share calculation since the impact on the calculation was anti-dilutive. Due to the net loss from continuing operations during the nine months ended December 31, 2018 and 2017, respectively, the dilutive effect of options, warrants and restricted stock units covering 3.5 million and 2.6 million shares of common stock, respectively, was excluded from the diluted loss per share calculation since the impact on the calculation was anti-dilutive. Additional options, warrants to purchase shares of common stock, and restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because the effect was anti-dilutive are shown below (shares in thousands): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Number of shares outstanding under options, warrants and restricted stock units plans 22 97 235 89 Range of exercise prices for options N/A $32.85 N/A $32.85 Stockholders’ Equity On August 29, 2011, the board of directors adopted a common stock repurchase program. That program was subsequently modified and expanded, most recently on October 25, 2018. On that date, the board of directors authorized a $500 million increase to the existing common stock repurchase program. Under the modified common stock repurchase program, the Company may purchase up to $1 billion of its common stock through the period ending December 31, 2020. During the nine months ended December 31, 2018, the Company repurchased 2.3 million shares of its common stock for $64.1 million under the stock repurchase program. Through December 31, 2018, the Company had repurchased a total of 22.4 million shares of its stock for $438.7 million under the stock repurchase program, leaving remaining capacity of $561.3 million. On October 25, 2018, the board of directors authorized a Dutch auction tender offer (the "Offer") to purchase shares of its outstanding common stock at an initial aggregate purchase price not to exceed $500 million, plus up to 2% of the Company's outstanding shares of common stock in accordance with the rules and regulations of the SEC. On December 13, 2018, the Company accepted for purchase 11,235,955 shares of its common stock at a price of $44.50 per share, for an aggregate cost of $503.4 million, including fees and expenses. These shares represented approximately 14.2% of the shares outstanding. Accumulated Other Comprehensive Income Accumulated other comprehensive income accumulated balances of $7.9 million and $10.8 million at December 31, 2018 and March 31, 2018, respectively, reflect accumulated foreign currency translation adjustments. |
DISPOSITION (Notes)
DISPOSITION (Notes) | 9 Months Ended |
Dec. 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISPOSITION | DISPOSITION: On July 2, 2018, the Company entered into a definitive agreement to sell its Acxiom Marketing Solutions business (“AMS”) to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash. As required regulatory approvals were being sought and received, the Company solicited and received shareholder approval for the transaction. Shareholder approval was received on September 20, 2018, and the Company began reporting the financial information pertaining to AMS as a component of discontinued operations in the condensed consolidated financial statements as of the second quarter of fiscal 2019. Prior to the discontinued operations classification, the AMS business was included in the AMS segment in the Company’s segment results. The sale was completed on October 1, 2018. At the closing of the transaction, the Company received total consideration of $2.3 billion ($2.3 billion stated sales price less closing adjustments and transaction costs of $49.0 million). Additionally, the Company applied $230.5 million of proceeds from the sale to repay outstanding Company debt and interest. The Company reported a gain of $1.7 billion on the sale, which is included in earnings from discontinued operations, net of tax. Summary results of operations of AMS for the three and nine months ended December 31, 2018 and 2017, respectively, are segregated and included in earnings from discontinued operations, net of tax, in the condensed consolidated statements of operations. The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Revenues $ — $ 175,750 $ 332,185 $ 512,734 Cost of revenue 24,677 91,394 213,512 272,356 Gross profit (24,677) 84,356 118,673 240,378 Operating expenses: Research and development 6,703 9,007 21,621 26,144 Sales and marketing 18,110 25,898 60,743 74,384 General and administrative 27,767 9,957 72,150 26,926 Gains, losses and other items, net (1,658,667) 747 (1,656,014) 1,479 Total operating expenses (1,606,087) 45,609 (1,501,500) 128,933 Income from discontinued operations 1,581,410 38,747 1,620,173 111,445 Interest expense — (2,566) (5,702) (7,432) Other, net 74 (13) 97 (176) Earnings from discontinued operations before income taxes 1,581,484 36,168 1,614,568 103,837 Income taxes 509,823 15,761 456,301 34,986 Earnings from discontinued operations, net of tax $ 1,071,661 $ 20,407 $ 1,158,267 $ 68,851 Substantially all of the interest expense was allocated to discontinued operations. The carrying amounts of the major classes of assets and liabilities of AMS are segregated and included in assets and liabilities held for sale in the condensed consolidated balance sheets. The following is a reconciliation of the assets and liabilities held for sale (dollars in thousands): March 31, 2018 (Unaudited) Cash and cash equivalents $ 2,261 Trade accounts receivable, net 115,141 Other current assets 20,972 Property and equipment, net 124,193 Software, net 21,014 Goodwill 392,356 Purchased software licenses, net 7,502 Deferred income taxes 1,522 Other assets, net 3,815 Assets held for sale $ 688,776 Trade accounts payable 27,929 Accrued payroll and related expenses 28,725 Other accrued expenses 16,241 Deferred revenue 27,214 Income taxes payable 244 Other liabilities 3,707 Liabilities held for sale $ 104,060 The Company entered into certain agreements with AMS in which services will be provided from the Company to AMS, and from AMS to the Company. The terms of these agreements are primarily 60 months from the date of sale. Cash inflows and outflows related to the agreements are included in cash flows from operating activities in the condensed consolidated statements of cash flows. Revenues and costs related to the agreements are included in loss from operations in the condensed consolidated statements of operations. The related cash inflows and outflows and revenues and costs for the three months ended December 31, 2018 was (dollars in thousands): For the three months ended December 31, 2018 Cash inflows $ 9,417 Cash outflows $ 521 Revenues $ 11,832 Costs $ 4,176 The revenues include approximately $4.5 million incremental to amounts reported as LiveRamp revenues in previous periods. |
STOCK-BASED COMPENSATION_
STOCK-BASED COMPENSATION: | 9 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
STOCK-BASED COMPENSATION: | STOCK-BASED COMPENSATION: Stock-based Compensation Plans The Company has stock option and equity compensation plans for which a total of 42.3 million shares of the Company’s common stock have been reserved for issuance since the inception of the plans. At December 31, 2018, there were a total of 12.3 million shares available for future grants under the plans. During the quarter ended September 30, 2018, the Board voted to amend the Amended and Restated 2005 Equity Compensation Plan to increase the number of shares available under the plan from 32.9 million shares to 37.9 million shares, bringing the total number of shares reserved for issuance since inception of all plans from 37.3 million shares at June 30, 2018 to 42.3 million shares beginning in the quarter ended September 30, 2018. The amendment received shareholder approval at the September 20, 2018 annual shareholders' meeting. Stock-based Compensation Expense The Company's stock-based compensation activity for the nine months ended December 31, 2018, by award type, was (dollars in millions): For the nine months ended December 31, 2018 2017 Stock options $ 2.6 $ 4.0 Performance stock options 0.2 0.9 Restricted stock units 34.6 21.6 Arbor acquisition consideration holdback 11.5 11.5 Pacific Data Partners assumed performance plan 11.8 — Other non-employee stock-based compensation 0.9 0.9 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 61.6 38.9 Less expense related to liability-based equity awards (10.8) — Stock-based compensation of discontinued operations 62.9 7.8 Total non-cash stock-based compensation included in the condensed consolidated statement of equity $ 113.7 $ 46.7 Stock Option Activity of Continuing Operations Stock option activity for the nine months ended December 31, 2018 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2018 2,456,184 $ 13.30 Exercised (870,453) $ 11.22 $ 27,517 Forfeited or canceled (25,591) $ 18.64 Outstanding at December 31, 2018 1,560,140 $ 14.37 4.8 $ 37,850 Exercisable at December 31, 2018 1,378,721 $ 15.27 4.5 $ 32,210 The aggregate intrinsic value at period end represents the total pre-tax intrinsic value (the difference between LiveRamp’s closing stock price on the last trading day of the period and the exercise price for each in-the-money option) that would have been received by the option holders had option holders exercised their options on December 31, 2018. This amount changes based upon changes in the fair market value of LiveRamp’s common stock. A summary of stock options outstanding and exercisable as of December 31, 2018 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ 0.61 — $ 9.99 304,455 5.3 years $ 1.45 192,111 $ 1.46 $ 10.00 — $ 19.99 732,241 3.9 years $ 14.78 662,833 $ 14.50 $ 20.00 — $ 24.99 523,444 5.8 years $ 21.31 523,444 $ 21.31 1,560,140 4.8 years $ 14.37 1,378,388 $ 15.27 Future expense for these options is expected to be approximately $3.4 million in total over the next three years. Performance Stock Option Unit Activity of Continuing Operations Performance stock option unit activity for the nine months ended December 31, 2018 was: Weighted-average Weighted-average remaining Aggregate Number exercise price contractual term intrinsic value of shares per share (in years) (in thousands) Outstanding at March 31, 2018 322,823 $ 21.42 Forfeited or canceled (187,885) $ 21.41 Outstanding at December 31, 2018 134,938 $ 21.44 1.4 $ 2,320 Exercisable at December 31, 2018 — $ — — $ — Of the performance stock option units outstanding at March 31, 2018, 161,412 reached maturity of the relevant performance period at March 31, 2018. The units attained a 0% attainment level. As a result, they were canceled in the current fiscal year. Future expense for these performance stock option units is expected to be approximately $0.6 million in total over the next three years. Restricted Stock Unit Activity Related to Disposition of AMS Performance-based Restricted Stock Unit Conversions In conjunction with the disposition of AMS, together with the change-in-control guidelines of the Company's 2005 Equity Compensation Plan, the Company converted its outstanding TSR-based performance restricted stock units ("PSUs") to time-vesting restricted stock units ("RSUs"). On the conversion date, the performance period was truncated and attainment measured, resulting in conversion of the PSUs to RSUs at a 200% conversion rate. Each converted RSU held by an AMS associate was vested immediately. The remaining converted RSUs will cliff vest on the same date as the original PSU performance period maturity date. Share activity related to these conversions was: Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations TSR-based performance restricted stock units converted to time-based restricted stock units, by fiscal year granted: Original Performance Maturity Date: Fiscal 2017 PSU 3/31/2019 (168,939) (45,657) (214,596) Fiscal 2018 PSU 3/31/2020 (153,233) (32,545) (185,778) Fiscal 2019 PSU 3/31/2021 (186,539) (30,188) (216,727) Totals (508,711) (108,390) (617,101) Time-based restricted stock units converted from TSR-based performance restricted stock units RSU Cliff Vest Date (Continuing Ops Only): Fiscal 2017 PSU 3/31/2019 337,878 91,314 429,192 Fiscal 2018 PSU 3/31/2020 306,466 65,090 371,556 Fiscal 2019 PSU 3/31/2021 373,078 60,376 433,454 Totals 1,017,422 216,780 1,234,202 The Company recognized both incremental and accelerated compensation costs in the condensed consolidated statement of operations related to the PSU conversions. The impact on compensation costs was (dollars in thousands): Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations Incremental compensation costs $ 7,179 $ 1,599 $ 8,778 Accelerated compensation costs of original grant date fair value related to immediate vesting of converted PSUs of AMS associates $ — $ 1,607 $ 1,607 AMS Restricted Stock Unit Accelerations In conjunction with the disposition of AMS, the Company accelerated the vesting of substantially all outstanding time-vesting restricted stock units of AMS associates to the date of disposition, including converted PSU shares, resulting in the release of restricted stock units covering 1,187,344 shares of common stock. The Company recognized $54.0 million of compensation costs related to the accelerated vesting and release of these units which is included in net earnings from discontinued operations, net of tax in the condensed consolidated statement of operations. Of the $54.0 million compensation costs, $27.0 million represented incremental compensation cost and $27.0 million represented accelerated original grant date fair value compensation cost. Restricted Stock Unit Activity During the nine months ended December 31, 2018, the Company granted time-vesting restricted stock units covering 1,877,874 shares of common stock with a fair value at the date of grant of $63.2 million. Of the restricted stock units granted in the current period, 197,115 vest in equal annual increments over four years, 1,272,337 vest 25% at the one-year anniversary and 75% in equal quarterly increments over the subsequent three years, 330,415 vest 50% at the two-year anniversary and 50% in equal annual increments over the subsequent two years, and 78,007 vest over one year. Grant date fair value of these units is equal to the quoted market price for the shares on the date of grant. Time-vesting restricted stock unit activity for the nine months ended December 31, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 2,702,497 $ 24.60 2.34 Granted 1,877,874 $ 33.66 Vested (1,363,871) $ 24.60 Forfeited or canceled (265,878) $ 25.39 PSUs converted to RSUs in conjunction with AMS disposition 1,017,422 $ 21.21 Outstanding at December 31, 2018 3,968,044 $ 27.97 2.37 The total fair value of time-vesting restricted stock units vested for the nine months ended December 31, 2018 was $54.4 million and is measured as the quoted market price of the Company's common stock on the vesting date for the number of shares vested. During the nine months ended December 31, 2018, the Company granted performance-based restricted stock units, in two separate plans, covering 516,954 shares of common stock having a fair value at the date of grant of $21.1 million. Under the first performance plan, units covering 186,539 shares of common stock were granted having a fair value at the date of grant of $5.8 million, determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee of the board of directors (“compensation committee”) and continuous employment through the vesting date. The 186,539 units may vest in a number of shares from 25% to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to total shareholder return of a group of peer companies established by the compensation committee for the period from April 1, 2018 to March 31, 2021. All of these awards were converted to RSUs at the time of the AMS disposition. Under the second performance plan, units covering 330,415 shares of common stock were granted having a fair value at the date of grant of $15.3 million equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee of the board of directors. The units may vest in a number of shares from zero to 200% of the award, based on the attainment of revenue growth and margin targets. Non-vested performance-based restricted stock unit activity for the nine months ended December 31, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 561,018 $ 25.68 2.53 Granted 516,954 $ 40.82 Additional earned performance shares 176 $ 23.89 Vested (61,330) $ 24.22 Forfeited or canceled (129,501) $ 25.15 PSUs converted to RSUs in conjunction with AMS disposition (508,711) $ 28.08 Outstanding at December 31, 2018 378,606 $ 43.55 3.45 Future expense for restricted stock units is expected to be approximately $12.5 million for the three months ending March 31, 2019, $42.5 million in fiscal 2020, $27.9 million in fiscal 2021, $15.6 million in fiscal 2022, and $4.2 million in fiscal 2023. Other Performance Unit Activity Other performance-based stock unit activity for the nine months ended December 31, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 111,111 $ 5.33 - Vested (45,364) $ 5.33 Forfeited or canceled (65,747) $ 5.33 Outstanding at December 31, 2018 — $ — - The 111,111 performance-based units outstanding at March 31, 2018 reached maturity of the relevant performance period on March 31, 2018. The units achieved a 100% performance attainment level. However, application of the share price adjustment factor resulted in a 59% reduction in shares vested in the current fiscal quarter. During the nine months ended December 31, 2018, shares having a fair value of approximately $36.9 million were withheld from the units vested and exercised in the tables above. The withheld shares represented the value of employee payroll tax withholding for taxable stock-based compensation awards. The $36.9 million fair value resulted in the return of 953,523 shares to treasury stock and is included in shares repurchased for tax withholding upon vesting of stock-based awards in the condensed consolidated statements of cash flows. Stock-based Compensation Expense Related to Discontinued Operations Total stock-based compensation expense related to discontinued operations for the nine months ended December 31, 2018 and 2017 was $62.9 million and $7.8 million, respectively and is included in non-cash stock-based compensation in the condensed consolidated statement of equity. Consideration Holdback As part of the Company’s acquisition of Arbor in fiscal 2017, $38.3 million of the acquisition consideration otherwise payable with respect to shares of restricted Arbor common stock held by certain key employees was subject to holdback by the Company pursuant to agreements with those employees (each, a “Holdback Agreement”). The Holdback Agreement specifies the payment of the consideration in monthly installments using LiveRamp shares over a thirty month period. Total expense related to the Holdback Agreements for the nine months ended December 31, 2018 and 2017 was $11.5 million in each period. Through December 31, 2018, the Company had recognized a total of $31.9 million expense related to the Holdback Agreements. Future expense related to the Holdback Agreements is expected to be approximately $6.4 million over the next two Pacific Data Partners ("PDP") Assumed Performance Plan In connection with the fiscal 2018 acquisition of PDP, the Company assumed the outstanding performance compensation plan under the 2018 Equity Compensation Plan of Pacific Data Partners, LLC ("PDP PSU plan"). Total expense related to the PDP PSU plan for the nine months ended December 31, 2018 was $11.8 million. Through December 31, 2018, the Company has recognized a total of $13.8 million related to the PDP PSU plan. Future expense is expected to be approximately $3.9 million in fiscal 2019, $15.8 million in fiscal 2020, $15.8 million in fiscal 2021, and $15.7 million in fiscal 2022, based on expectations of full attainment. At December 31, 2018, the recognized, but unpaid, balance related to the PDP PSU plan in other accrued expenses in the condensed consolidated balance sheet was $12.4 million. |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS: | 9 Months Ended |
Dec. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
OTHER CURRENT AND NONCURRENT ASSETS: | OTHER CURRENT AND NONCURRENT ASSETS: Other current assets consist of the following (dollars in thousands): December 31, 2018 March 31, 2018 Prepaid expenses and other $ 13,660 $ 6,622 Assets of non-qualified retirement plan 13,706 13,551 Other current assets $ 27,366 $ 20,173 Other noncurrent assets consist of the following (dollars in thousands): December 31, 2018 March 31, 2018 Acquired intangible assets, net $ 26,562 $ 33,922 Other miscellaneous noncurrent assets 7,998 3,932 Other assets, net $ 34,560 $ 37,854 |
OTHER ACCRUED EXPENSES_
OTHER ACCRUED EXPENSES: | 9 Months Ended |
Dec. 31, 2018 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): December 31, 2018 March 31, 2018 Liabilities of non-qualified retirement plan 13,706 13,551 Other miscellaneous accrued expenses 41,429 26,073 Other accrued expenses $ 55,135 $ 39,624 |
GOODWILL AND INTANGIBLE ASSETS_
GOODWILL AND INTANGIBLE ASSETS: | 9 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND INTANGIBLE ASSETS: | GOODWILL AND INTANGIBLE ASSETS: Goodwill for the nine months ended December 31, 2018 (dollars in thousands) was as follows: Total Balance at March 31, 2018 $ 203,639 Reallocation from AMS 1,377 Change in foreign currency translation adjustment (345) Balance at December 31, 2018 $ 204,671 Goodwill by geography as of December 31, 2018 was: Total U.S. $ 201,449 APAC 3,222 Balance at December 31, 2018 $ 204,671 The amounts allocated to intangible assets from acquisitions include developed technology, customer relationships, trade names, and publisher relationships. Amortization lives for those intangibles range from two years to six years. The following table shows the amortization activity of intangible assets (dollars in thousands): December 31, 2018 March 31, 2018 Developed technology, gross (Software) $ 54,000 $ 54,000 Accumulated amortization (48,989) (43,383) Net developed technology $ 5,011 $ 10,617 Customer relationship/Trade name, gross (Other assets, net) $ 35,800 $ 35,800 Accumulated amortization (24,774) (20,400) Net customer/trade name $ 11,026 $ 15,400 Publisher relationship, gross (Other assets, net) $ 23,800 $ 23,800 Accumulated amortization (8,264) (5,289) Net publisher relationship $ 15,536 $ 18,511 Total intangible assets, gross $ 113,600 $ 113,600 Total accumulated amortization (82,027) (69,072) Total intangible assets, net $ 31,573 $ 44,528 Total amortization expense related to intangible assets for the nine months ended December 31, 2018 and 2017 was $13.0 million and $18.0 million, respectively. The following table presents the estimated future amortization expenses related to purchased and other intangible assets. The amount for 2019 represents the remaining three months ending March 31, 2019. All other periods represent fiscal years ending March 31 (dollars in thousands): Fiscal Year: 2019 $ 2,981 2020 11,925 2021 8,083 2022 5,150 2023 3,434 $ 31,573 |
PROPERTY AND EQUIPMENT (Notes)
PROPERTY AND EQUIPMENT (Notes) | 9 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT: | PROPERTY AND EQUIPMENT: Property and equipment is summarized as follows (dollars in thousands): December 31, 2018 March 31, 2018 Leasehold improvements 16,920 15,635 Data processing equipment 35,727 39,938 Office furniture and other equipment 6,135 6,780 58,782 62,353 Less accumulated depreciation and amortization 34,195 30,013 $ 24,587 $ 32,340 Depreciation expense on property and equipment was $10.7 million and $8.9 million for the nine months ended December 31, 2018 and 2017, respectively. Depreciation expense for the nine months ended December 31, 2018 |
LONG-TERM DEBT_
LONG-TERM DEBT: | 9 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT: | LONG-TERM DEBT: Long-term debt consists of the following (dollars in thousands): March 31, 2018 Revolving credit borrowings $ 230,000 Other debt 3,293 Total long-term debt 233,293 Less current installments 1,583 Less deferred debt financing costs 3,873 Long-term debt, excluding current installments and deferred debt financing costs $ 227,837 |
ALLOWANCE FOR DOUBTFUL ACCOUNTS
ALLOWANCE FOR DOUBTFUL ACCOUNTS: | 9 Months Ended |
Dec. 31, 2018 | |
Valuation and Qualifying Accounts [Abstract] | |
ALLOWANCE FOR DOUBTFUL ACCOUNTS: | ALLOWANCE FOR DOUBTFUL ACCOUNTS: Trade accounts receivable are presented net of allowances for doubtful accounts, returns and credits of $3.4 million at December 31, 2018 and $3.1 million at March 31, 2018. |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | 9 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: The following table summarizes the restructuring activity for the nine months ended December 31, 2018 (dollars in thousands): Associate-related Lease Total March 31, 2018 $ 541 $ 5,288 $ 5,829 Restructuring charges and adjustments 3,952 1,582 5,534 Payments (1,363) (878) (2,241) December 31, 2018 $ 3,130 $ 5,992 $ 9,122 The above balances are included in other accrued expenses and other liabilities on the condensed consolidated balance sheets. Restructuring Plans In the nine months ended December 31, 2018, the Company recorded a total of $5.5 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The fiscal year 2019 expense included restructuring plans primarily for associates in the United States and China of $3.9 million, lease accruals and adjustments of $0.8 million, and leasehold improvement write-offs of $0.8 million. Of the associate related accruals of $3.9 million, $2.8 million remained accrued at December 31, 2018. The associate-related costs are expected to be paid out in fiscal 2019 and fiscal 2020. In fiscal 2018, the Company recorded a total of $2.8 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges of $0.2 million, and lease accruals and adjustments of $2.6 million. The associate-related accruals of $0.2 million were paid out in fiscal 2019. The lease accruals and adjustments of $2.6 million result from the Company's exit from certain leased office facilities. In fiscal 2017, the Company recorded a total of $6.5 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included lease accruals and adjustments of $3.0 million, and leasehold improvement write-offs of $2.1 million. The lease accruals and adjustments of $3.0 million resulted from the Company's exit from certain leased office facilities ($1.5 million) and adjustments to estimates related to the fiscal 2015 lease accruals ($1.5 million). In fiscal 2015, the Company recorded a total of $9.2 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges of $2.6 million, lease accruals of $4.7 million, and the write-off of leasehold improvements of $2.0 million. Of the associate-related accruals of $2.6 million, $0.3 million remained accrued as of December 31, 2018. These amounts are expected to be paid out in fiscal 2019. With respect to the fiscals 2015, 2017, 2018, and 2019 lease accruals described above, the Company intends to sublease the facilities to the extent possible. The liabilities will be satisfied over the remainder of the leased properties' terms, which continue through November 2025. Of the total amount accrued, $6.0 million remained accrued as of December 31, 2018. Actual sublease receipts may differ from the estimates originally made by the Company. Any future changes in the estimates or in the actual sublease income could require future adjustments to the liabilities, which would impact net earnings (loss) in the period the adjustment is recorded. Gains, Losses and Other Items Gains, losses and other items for each of the periods presented are as follows (dollars in thousands): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Restructuring plan charges and adjustments $ 5,043 $ (765) $ 5,534 $ 2,066 Other — (23) — (24) $ 5,043 $ (788) $ 5,534 $ 2,042 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: | 9 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES: | COMMITMENTS AND CONTINGENCIES: Legal Matters The Company is involved in various claims and legal proceedings. Management routinely assesses the likelihood of adverse judgments or outcomes to these matters, as well as ranges of probable losses, to the extent losses are reasonably estimable. The Company records accruals for these matters to the extent that management concludes a loss is probable and the financial impact, should an adverse outcome occur, is reasonably estimable. These accruals are reflected in the Company’s condensed consolidated financial statements. In management’s opinion, the Company has made appropriate and adequate accruals for these matters, and management believes the probability of a material loss beyond the amounts accrued to be remote. However, the ultimate liability for these matters is uncertain, and if accruals are not adequate, an adverse outcome could have a material effect on the Company’s consolidated financial condition or results of operations. The Company maintains insurance coverage above certain limits. There are currently no matters pending against the Company or its subsidiaries for which the potential exposure is considered material to the Company’s condensed consolidated financial statements. Commitments The Company leases office space and equipment under noncancellable operating leases. The Company has a future commitment for lease payments over the next 7 years of $50.2 million. |
INCOME TAXES_
INCOME TAXES: | 9 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES: | INCOME TAX:In determining the quarterly provision for income taxes, the Company makes its best estimate of the effective income tax rate expected to be applicable for the full fiscal year. The estimated effective income tax rate for the current fiscal year is impacted by the reduction in the U.S. federal corporate income tax rate (discussed below), non-deductible stock-based compensation, state income taxes, research tax credits, losses in foreign jurisdictions, and recording of a valuation allowance on deferred taxes. State income taxes are influenced by the geographic and legal entity mix of the Company's U.S. income as well as the diversity of rules among the states. The Company does not record a tax benefit for certain foreign losses due to uncertainty of future utilization. On December 22, 2017, the U.S. enacted significant tax law changes following the passage of H.R. 1, "An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 "the Tax Act") (previously known as "The Tax Cuts and Jobs Act"). The Tax Act reduced the U.S. federal corporate income tax rate from 35% to 21%, among other provisions. We believe we properly estimated our federal and state income tax liabilities for the impacts of the Tax Act, including provisional amounts under SAB No. 118 related to the rate change, the impact of increased bonus depreciation, and the effects on executive compensation deductions. During the third quarter ended December 31, 2018, we finalized our analysis of the impact of the Tax Act and did not change our provisional amounts. Any impacts to our income tax expense as a result of future technical amendments, interpretations, or regulations issued by the Department of Treasury or Internal Revenue Service will be recorded in the period in which such additional guidance is issued. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS: | 9 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS: | FAIR VALUE OF FINANCIAL INSTRUMENTS: The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. Cash and cash equivalents, trade receivables, unbilled and notes receivable, short-term borrowings and trade payables - The carrying amount approximates fair value because of the short maturity of these instruments. Under applicable accounting standards financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company assigned assets and liabilities to the hierarchy in the accounting standards, which is Level 1 - quoted prices in active markets for identical assets or liabilities, Level 2 - significant other observable inputs and Level 3 - significant unobservable inputs. The following table presents the balances of assets measured at fair value as of December 31, 2018 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 13,706 $ — $ — $ 13,706 Total assets $ 13,706 $ — $ — $ 13,706 |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies) | 9 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements Not Yet Adopted | Recent Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"), which eliminates step two from the goodwill impairment test. Under ASU 2017-04, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years; earlier adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), as a comprehensive new standard that amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. The new standard will require lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases except short-term leases. For lessees, leases will continue to be classified as either operating or financing in the income statement. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. Lessors will continue to classify leases as operating, direct financing or sales-type leases. Subsequently, the FASB has issued various ASU's to provide further clarification around aspects of Topic 842, including an alternative method that permits application of the new guidance at the beginning of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption, in addition to the method of applying the new guidance retrospectively to each prior reporting period presented. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years, with early adoption permitted. We will adopt the new standard on April 1, 2019 using the modified retrospective approach. The Company is continuing to evaluate the impact of the adoption of this guidance on its consolidated financial statements and related disclosures. We plan to take advantage of the transition package of practical expedients permitted within the new standard, which will allow us to carry forward the historical lease classification, to not reassess whether any existing contracts are or contain leases and to not reassess initial direct costs for any existing leases. We also plan to make policy elections not to apply the balance sheet recognition requirements for qualifying short-term leases and not to separate non-lease components, as applicable, to our facility leases. We are currently assessing whether to elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The Company does not anticipate that the adoption of any other recent accounting pronouncements will have a material impact on the Company's consolidated financial position, results of operations or cash flows. |
TOPIC 606 ADOPTION IMPACT AND_2
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Impacts on Financial Statements Condensed Consolidated Balance Sheet Impact of changes in accounting policies As reported December 31, 2018 Adjustments Balances without adoption of Topic 606 Deferred income taxes 149 2,256 2,405 Deferred commissions, net 9,478 (9,478) — Others 1,917,891 — 1,917,891 Total assets $ 1,927,518 $ (7,222) $ 1,920,296 Total liabilities 567,902 — 567,902 Retained earnings 1,715,066 (7,222) 1,707,844 Other equity (355,450) — (355,450) Total equity 1,359,616 (7,222) 1,352,394 Total liabilities and equity $ 1,927,518 $ (7,222) $ 1,920,296 Condensed Consolidated Statement of Operations Impact of changes in accounting policies As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 Revenues $ 207,304 $ — $ 207,304 Cost of revenue 82,958 — 82,958 Gross profit $ 124,346 $ — $ 124,346 Operating expenses: Sales and marketing $ 109,317 $ 3,035 $ 112,352 Other operating expenses 131,041 — 131,041 Total operating expenses 240,358 3,035 243,393 Loss from operations (116,012) (3,035) (119,047) Total other income 10,479 — 10,479 Loss from continuing operations before income taxes (105,533) (3,035) (108,568) Income taxes (benefit) (21,274) (722) (21,996) Net loss from continuing operations $ (84,259) $ (2,313) $ (86,572) Condensed Consolidated Statement of Comprehensive Income Impact of changes in accounting policies As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 Net earnings $ 1,074,008 $ (2,313) $ 1,071,695 Other comprehensive loss: Change in foreign currency translation adjustment (2,876) — (2,876) Comprehensive income $ 1,071,132 $ (2,313) $ 1,068,819 Condensed Consolidated Statement of Cash Flows Impact of changes in accounting policies As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 Net earnings $ 1,074,008 $ (2,313) $ 1,071,695 Earnings from discontinued operations (1,158,267) — (1,158,267) Adjustments for: Deferred income taxes 20,723 (722) 20,001 Others 91,425 — 91,425 Changes in: Accounts receivable, net (35,011) — (35,011) Deferred commissions (3,035) 3,035 — Other assets 654 — 654 Accounts payable and other liabilities (29,274) — (29,274) Deferred revenue (1,555) — (1,555) Net cash from operating activities (40,332) — (40,332) Net cash from investing activities (7,795) — (7,795) Net cash from financing activities (820,644) — (820,644) Net cash from discontinued operations 2,277,338 — 2,277,338 Effect of exchange rate changes on cash (1,811) — (1,811) Net change in cash and cash equivalents 1,406,756 — 1,406,756 Cash and cash equivalents at beginning of period 140,018 — 140,018 Cash and cash equivalents at end of period $ 1,546,774 $ — $ 1,546,774 |
Schedule of Disaggregation of Revenue | In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). For the nine months ended December 31, Primary Geographical Markets 2018 2017 United States $ 189,997 $ 143,937 Europe 13,858 12,916 APAC 3,449 3,038 $ 207,304 $ 159,891 Major Offerings/Services Subscription 171,184 125,157 Marketplace and Other 36,120 34,734 $ 207,304 $ 159,891 |
EARNINGS (LOSS) PER SHARE AND_2
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
Reconciliation of numerator and denominator of basic and diluted earnings (loss) per share | A reconciliation of the numerator and denominator of basic and diluted earnings per share is shown below (in thousands, except per share amounts): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Basic earnings per share: Net earnings (loss) from continuing operations $ (15,261) $ 2,534 $ (84,259) $ (50,546) Earnings from discontinued operations, net of tax 1,071,661 20,407 1,158,267 68,851 Net earnings $ 1,056,400 $ 22,941 $ 1,074,008 $ 18,305 Basic weighted-average shares outstanding 77,398 79,043 77,260 78,983 Continuing operations $ (0.20) $ 0.03 $ (1.09) $ (0.64) Discontinued operations 13.85 0.26 14.99 0.87 Basic earnings per share $ 13.65 $ 0.29 $ 13.90 $ 0.23 Diluted earnings per share: Basic weighted-average shares outstanding 77,398 79,043 77,260 78,983 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — 2,826 — — Diluted weighted-average shares outstanding 77,398 81,869 77,260 78,983 Continuing operations $ (0.20) $ 0.03 $ (1.09) $ (0.64) Discontinued operations 13.85 0.25 14.99 0.87 Diluted earnings per share $ 13.65 $ 0.28 $ 13.90 $ 0.23 |
Schedule of anti-dilutive options, warrants and restricted stock units excluded from computation of earnings (loss) per share | Additional options, warrants to purchase shares of common stock, and restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because the effect was anti-dilutive are shown below (shares in thousands): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Number of shares outstanding under options, warrants and restricted stock units plans 22 97 235 89 Range of exercise prices for options N/A $32.85 N/A $32.85 |
DISPOSITION (Tables)
DISPOSITION (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations | The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Revenues $ — $ 175,750 $ 332,185 $ 512,734 Cost of revenue 24,677 91,394 213,512 272,356 Gross profit (24,677) 84,356 118,673 240,378 Operating expenses: Research and development 6,703 9,007 21,621 26,144 Sales and marketing 18,110 25,898 60,743 74,384 General and administrative 27,767 9,957 72,150 26,926 Gains, losses and other items, net (1,658,667) 747 (1,656,014) 1,479 Total operating expenses (1,606,087) 45,609 (1,501,500) 128,933 Income from discontinued operations 1,581,410 38,747 1,620,173 111,445 Interest expense — (2,566) (5,702) (7,432) Other, net 74 (13) 97 (176) Earnings from discontinued operations before income taxes 1,581,484 36,168 1,614,568 103,837 Income taxes 509,823 15,761 456,301 34,986 Earnings from discontinued operations, net of tax $ 1,071,661 $ 20,407 $ 1,158,267 $ 68,851 Substantially all of the interest expense was allocated to discontinued operations. The carrying amounts of the major classes of assets and liabilities of AMS are segregated and included in assets and liabilities held for sale in the condensed consolidated balance sheets. The following is a reconciliation of the assets and liabilities held for sale (dollars in thousands): March 31, 2018 (Unaudited) Cash and cash equivalents $ 2,261 Trade accounts receivable, net 115,141 Other current assets 20,972 Property and equipment, net 124,193 Software, net 21,014 Goodwill 392,356 Purchased software licenses, net 7,502 Deferred income taxes 1,522 Other assets, net 3,815 Assets held for sale $ 688,776 Trade accounts payable 27,929 Accrued payroll and related expenses 28,725 Other accrued expenses 16,241 Deferred revenue 27,214 Income taxes payable 244 Other liabilities 3,707 Liabilities held for sale $ 104,060 |
Disposal Groups, Including Discontinued Operations, Related Cash Inflows, Cash Outflows, Revenues, And Expenses | The related cash inflows and outflows and revenues and costs for the three months ended December 31, 2018 was (dollars in thousands): For the three months ended December 31, 2018 Cash inflows $ 9,417 Cash outflows $ 521 Revenues $ 11,832 Costs $ 4,176 |
STOCK-BASED COMPENSATION_ (Tabl
STOCK-BASED COMPENSATION: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of stock-based compensation activity, by award type | The Company's stock-based compensation activity for the nine months ended December 31, 2018, by award type, was (dollars in millions): For the nine months ended December 31, 2018 2017 Stock options $ 2.6 $ 4.0 Performance stock options 0.2 0.9 Restricted stock units 34.6 21.6 Arbor acquisition consideration holdback 11.5 11.5 Pacific Data Partners assumed performance plan 11.8 — Other non-employee stock-based compensation 0.9 0.9 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 61.6 38.9 Less expense related to liability-based equity awards (10.8) — Stock-based compensation of discontinued operations 62.9 7.8 Total non-cash stock-based compensation included in the condensed consolidated statement of equity $ 113.7 $ 46.7 |
Schedule of option activity | Stock option activity for the nine months ended December 31, 2018 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2018 2,456,184 $ 13.30 Exercised (870,453) $ 11.22 $ 27,517 Forfeited or canceled (25,591) $ 18.64 Outstanding at December 31, 2018 1,560,140 $ 14.37 4.8 $ 37,850 Exercisable at December 31, 2018 1,378,721 $ 15.27 4.5 $ 32,210 |
Summary of stock options outstanding and exercisable | A summary of stock options outstanding and exercisable as of December 31, 2018 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ 0.61 — $ 9.99 304,455 5.3 years $ 1.45 192,111 $ 1.46 $ 10.00 — $ 19.99 732,241 3.9 years $ 14.78 662,833 $ 14.50 $ 20.00 — $ 24.99 523,444 5.8 years $ 21.31 523,444 $ 21.31 1,560,140 4.8 years $ 14.37 1,378,388 $ 15.27 |
Schedule of performance stock option unit activity | Performance stock option unit activity for the nine months ended December 31, 2018 was: Weighted-average Weighted-average remaining Aggregate Number exercise price contractual term intrinsic value of shares per share (in years) (in thousands) Outstanding at March 31, 2018 322,823 $ 21.42 Forfeited or canceled (187,885) $ 21.41 Outstanding at December 31, 2018 134,938 $ 21.44 1.4 $ 2,320 Exercisable at December 31, 2018 — $ — — $ — |
Schedule of time-vesting restricted stock unit activity | Time-vesting restricted stock unit activity for the nine months ended December 31, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 2,702,497 $ 24.60 2.34 Granted 1,877,874 $ 33.66 Vested (1,363,871) $ 24.60 Forfeited or canceled (265,878) $ 25.39 PSUs converted to RSUs in conjunction with AMS disposition 1,017,422 $ 21.21 Outstanding at December 31, 2018 3,968,044 $ 27.97 2.37 |
Schedule of non-vested performance-based restricted stock units activity | Non-vested performance-based restricted stock unit activity for the nine months ended December 31, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 561,018 $ 25.68 2.53 Granted 516,954 $ 40.82 Additional earned performance shares 176 $ 23.89 Vested (61,330) $ 24.22 Forfeited or canceled (129,501) $ 25.15 PSUs converted to RSUs in conjunction with AMS disposition (508,711) $ 28.08 Outstanding at December 31, 2018 378,606 $ 43.55 3.45 |
Schedule of other performance unit activity | Other performance-based stock unit activity for the nine months ended December 31, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 111,111 $ 5.33 - Vested (45,364) $ 5.33 Forfeited or canceled (65,747) $ 5.33 Outstanding at December 31, 2018 — $ — - |
Schedule Of Share Conversion | Share activity related to these conversions was: Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations TSR-based performance restricted stock units converted to time-based restricted stock units, by fiscal year granted: Original Performance Maturity Date: Fiscal 2017 PSU 3/31/2019 (168,939) (45,657) (214,596) Fiscal 2018 PSU 3/31/2020 (153,233) (32,545) (185,778) Fiscal 2019 PSU 3/31/2021 (186,539) (30,188) (216,727) Totals (508,711) (108,390) (617,101) Time-based restricted stock units converted from TSR-based performance restricted stock units RSU Cliff Vest Date (Continuing Ops Only): Fiscal 2017 PSU 3/31/2019 337,878 91,314 429,192 Fiscal 2018 PSU 3/31/2020 306,466 65,090 371,556 Fiscal 2019 PSU 3/31/2021 373,078 60,376 433,454 Totals 1,017,422 216,780 1,234,202 |
Schedule Of Recognized Incremental and Accelerated Compensation Costs | The impact on compensation costs was (dollars in thousands): Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations Incremental compensation costs $ 7,179 $ 1,599 $ 8,778 Accelerated compensation costs of original grant date fair value related to immediate vesting of converted PSUs of AMS associates $ — $ 1,607 $ 1,607 |
OTHER CURRENT AND NONCURRENT _2
OTHER CURRENT AND NONCURRENT ASSETS: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of components of other current assets | Other current assets consist of the following (dollars in thousands): December 31, 2018 March 31, 2018 Prepaid expenses and other $ 13,660 $ 6,622 Assets of non-qualified retirement plan 13,706 13,551 Other current assets $ 27,366 $ 20,173 |
Schedule of components of other noncurrent assets | Other noncurrent assets consist of the following (dollars in thousands): December 31, 2018 March 31, 2018 Acquired intangible assets, net $ 26,562 $ 33,922 Other miscellaneous noncurrent assets 7,998 3,932 Other assets, net $ 34,560 $ 37,854 |
OTHER ACCRUED EXPENSES_ (Tables
OTHER ACCRUED EXPENSES: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Other Accrued Expenses [Abstract]. | |
Schedule of other accrued expenses | Other accrued expenses consist of the following (dollars in thousands): December 31, 2018 March 31, 2018 Liabilities of non-qualified retirement plan 13,706 13,551 Other miscellaneous accrued expenses 41,429 26,073 Other accrued expenses $ 55,135 $ 39,624 |
GOODWILL AND INTANGIBLE ASSET_2
GOODWILL AND INTANGIBLE ASSETS: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill by operating segment and activity and by component included in each segment | Goodwill for the nine months ended December 31, 2018 (dollars in thousands) was as follows: Total Balance at March 31, 2018 $ 203,639 Reallocation from AMS 1,377 Change in foreign currency translation adjustment (345) Balance at December 31, 2018 $ 204,671 Goodwill by geography as of December 31, 2018 was: Total U.S. $ 201,449 APAC 3,222 Balance at December 31, 2018 $ 204,671 |
Schedule of amortization activity of intangible assets | The following table shows the amortization activity of intangible assets (dollars in thousands): December 31, 2018 March 31, 2018 Developed technology, gross (Software) $ 54,000 $ 54,000 Accumulated amortization (48,989) (43,383) Net developed technology $ 5,011 $ 10,617 Customer relationship/Trade name, gross (Other assets, net) $ 35,800 $ 35,800 Accumulated amortization (24,774) (20,400) Net customer/trade name $ 11,026 $ 15,400 Publisher relationship, gross (Other assets, net) $ 23,800 $ 23,800 Accumulated amortization (8,264) (5,289) Net publisher relationship $ 15,536 $ 18,511 Total intangible assets, gross $ 113,600 $ 113,600 Total accumulated amortization (82,027) (69,072) Total intangible assets, net $ 31,573 $ 44,528 |
Schedule of estimated future amortization expenses related to purchases and other intangible assets | All other periods represent fiscal years ending March 31 (dollars in thousands): Fiscal Year: 2019 $ 2,981 2020 11,925 2021 8,083 2022 5,150 2023 3,434 $ 31,573 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment is summarized as follows (dollars in thousands): December 31, 2018 March 31, 2018 Leasehold improvements 16,920 15,635 Data processing equipment 35,727 39,938 Office furniture and other equipment 6,135 6,780 58,782 62,353 Less accumulated depreciation and amortization 34,195 30,013 $ 24,587 $ 32,340 |
LONG-TERM DEBT_ (Tables)
LONG-TERM DEBT: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of components of long-term debt | Long-term debt consists of the following (dollars in thousands): March 31, 2018 Revolving credit borrowings $ 230,000 Other debt 3,293 Total long-term debt 233,293 Less current installments 1,583 Less deferred debt financing costs 3,873 Long-term debt, excluding current installments and deferred debt financing costs $ 227,837 |
RESTRUCTURING, IMPAIRMENT AND_2
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Summary of restructuring activity | The following table summarizes the restructuring activity for the nine months ended December 31, 2018 (dollars in thousands): Associate-related Lease Total March 31, 2018 $ 541 $ 5,288 $ 5,829 Restructuring charges and adjustments 3,952 1,582 5,534 Payments (1,363) (878) (2,241) December 31, 2018 $ 3,130 $ 5,992 $ 9,122 |
Schedule of gains, losses and other items | Gains, losses and other items for each of the periods presented are as follows (dollars in thousands): For the three months ended For the nine months ended December 31, December 31, 2018 2017 2018 2017 Restructuring plan charges and adjustments $ 5,043 $ (765) $ 5,534 $ 2,066 Other — (23) — (24) $ 5,043 $ (788) $ 5,534 $ 2,042 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Tables) | 9 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets and liabilities measured at fair value | The following table presents the balances of assets measured at fair value as of December 31, 2018 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 13,706 $ — $ — $ 13,706 Total assets $ 13,706 $ — $ — $ 13,706 |
TOPIC 606 ADOPTION IMPACT AND_3
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Narrative (Details) - USD ($) | 9 Months Ended | ||
Dec. 31, 2018 | Apr. 01, 2018 | Mar. 31, 2018 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Retained earnings | $ 1,715,066,000 | $ 628,331,000 | |
Capitalized contract cost, unamortized | 9,500,000 | ||
Capitalized contract cost, net | 3,000,000 | ||
Contract with customer, asset, credit loss expense | 0 | ||
ASC 606 Adjustments | Accounting Standards Update 2014-09 | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Retained earnings | $ (7,222,000) | $ 12,700,000 |
TOPIC 606 ADOPTION IMPACT AND_4
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Impact of changes in accounting policies (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Apr. 01, 2018 | Mar. 31, 2018 | |
ASSETS | |||||||
Deferred income taxes | $ 149 | $ 149 | $ 10,703 | ||||
Deferred commissions, net | 9,478 | 9,478 | 0 | ||||
Others | 1,917,891 | 1,917,891 | |||||
Total assets | 1,927,518 | 1,927,518 | 1,209,497 | ||||
Liabilities | |||||||
Total liabilities | 567,902 | 567,902 | |||||
Equity | |||||||
Retained earnings | 1,715,066 | 1,715,066 | 628,331 | ||||
Other equity | (355,450) | (355,450) | |||||
Total equity | 1,359,616 | 1,359,616 | 749,095 | ||||
TOTAL LIABILITIES AND EQUITY | 1,927,518 | 1,927,518 | $ 1,209,497 | ||||
Income Statement [Abstract] | |||||||
Revenues | 80,021 | $ 59,121 | 207,304 | $ 159,891 | |||
Cost of revenue | 34,838 | 24,526 | 82,958 | 72,596 | |||
Gross profit | 45,183 | 34,595 | 124,346 | 87,295 | |||
Operating expenses: | |||||||
Sales and marketing | 40,054 | 27,832 | 109,317 | 77,904 | |||
Other operating expenses | 131,041 | ||||||
Total operating expenses | 93,394 | 62,284 | 240,358 | 192,936 | |||
Loss from operations | (48,211) | (27,689) | (116,012) | (105,641) | |||
Total other income | 10,404 | 432 | 10,479 | 115 | |||
Loss from continuing operations before income taxes | (37,807) | (27,257) | (105,533) | (105,526) | |||
Income taxes (benefit) | (22,546) | (29,791) | (21,274) | (54,980) | |||
Net loss from continuing operations | (15,261) | 2,534 | (84,259) | (50,546) | |||
Statement of Comprehensive Income [Abstract] | |||||||
Net loss | 1,056,400 | 22,941 | 1,074,008 | 18,305 | |||
Other comprehensive income (loss): | |||||||
Change in foreign currency translation adjustment | (2,301) | 416 | (2,876) | 1,827 | |||
Comprehensive loss | 1,054,099 | 23,357 | 1,071,132 | 20,132 | |||
Cash flows from operating activities: | |||||||
Earnings from discontinued operations, net of tax | (1,071,661) | (20,407) | (1,158,267) | (68,851) | |||
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||
Deferred income taxes | 20,723 | (19,425) | |||||
Others | 91,425 | ||||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | (35,011) | (9,818) | |||||
Deferred commissions | (3,035) | 0 | |||||
Other assets | 654 | 2,365 | |||||
Accounts payable and other liabilities | (29,274) | 1,786 | |||||
Deferred Revenue | (1,555) | (439) | |||||
Net cash used in operating activities | (40,332) | (4,755) | |||||
Net cash from investing activities | (7,795) | (3,969) | |||||
Net cash from financing activities | (820,644) | (35,067) | |||||
Net cash provided by discontinued operations | 2,277,338 | 50,610 | |||||
Effect of exchange rate changes on cash | (1,811) | 868 | |||||
Net change in cash and cash equivalents | 1,406,756 | 7,687 | |||||
Cash and cash equivalents at beginning of period | 1,546,774 | 140,018 | 168,680 | ||||
Cash and cash equivalents at end of period | 1,546,774 | $ 176,367 | 1,546,774 | $ 176,367 | |||
ASC 606 Adjustments | Accounting Standards Update 2014-09 | |||||||
ASSETS | |||||||
Deferred income taxes | $ 2,256 | ||||||
Deferred commissions, net | (9,478) | (9,478) | |||||
Others | 0 | 0 | |||||
Total assets | (7,222) | (7,222) | |||||
Liabilities | |||||||
Total liabilities | 0 | 0 | |||||
Equity | |||||||
Retained earnings | (7,222) | (7,222) | $ 12,700 | ||||
Other equity | 0 | 0 | |||||
Total equity | (7,222) | (7,222) | |||||
TOTAL LIABILITIES AND EQUITY | (7,222) | (7,222) | |||||
Income Statement [Abstract] | |||||||
Revenues | 0 | ||||||
Cost of revenue | 0 | ||||||
Gross profit | 0 | ||||||
Operating expenses: | |||||||
Sales and marketing | 3,035 | ||||||
Other operating expenses | 0 | ||||||
Total operating expenses | 3,035 | ||||||
Loss from operations | (3,035) | ||||||
Total other income | 0 | ||||||
Loss from continuing operations before income taxes | (3,035) | ||||||
Income taxes (benefit) | (722) | ||||||
Net loss from continuing operations | (2,313) | ||||||
Statement of Comprehensive Income [Abstract] | |||||||
Net loss | (2,313) | ||||||
Other comprehensive income (loss): | |||||||
Change in foreign currency translation adjustment | 0 | ||||||
Comprehensive loss | (2,313) | ||||||
Cash flows from operating activities: | |||||||
Earnings from discontinued operations, net of tax | 0 | ||||||
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||
Deferred income taxes | (722) | ||||||
Others | 0 | ||||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | 0 | ||||||
Deferred commissions | 3,035 | ||||||
Other assets | 0 | ||||||
Accounts payable and other liabilities | 0 | ||||||
Deferred Revenue | 0 | ||||||
Net cash used in operating activities | 0 | ||||||
Net cash from investing activities | 0 | ||||||
Net cash from financing activities | 0 | ||||||
Net cash provided by discontinued operations | 0 | ||||||
Effect of exchange rate changes on cash | 0 | ||||||
Net change in cash and cash equivalents | 0 | ||||||
Cash and cash equivalents at beginning of period | 0 | 0 | |||||
Before ASC topic 606 | |||||||
ASSETS | |||||||
Deferred income taxes | $ 2,405 | ||||||
Deferred commissions, net | 0 | 0 | |||||
Others | 1,917,891 | 1,917,891 | |||||
Total assets | 1,920,296 | 1,920,296 | |||||
Liabilities | |||||||
Total liabilities | 567,902 | 567,902 | |||||
Equity | |||||||
Retained earnings | 1,707,844 | 1,707,844 | |||||
Other equity | (355,450) | (355,450) | |||||
Total equity | 1,352,394 | 1,352,394 | |||||
TOTAL LIABILITIES AND EQUITY | 1,920,296 | 1,920,296 | |||||
Income Statement [Abstract] | |||||||
Revenues | 207,304 | ||||||
Cost of revenue | 82,958 | ||||||
Gross profit | 124,346 | ||||||
Operating expenses: | |||||||
Sales and marketing | 112,352 | ||||||
Other operating expenses | 131,041 | ||||||
Total operating expenses | 243,393 | ||||||
Loss from operations | (119,047) | ||||||
Total other income | 10,479 | ||||||
Loss from continuing operations before income taxes | (108,568) | ||||||
Income taxes (benefit) | (21,996) | ||||||
Net loss from continuing operations | (86,572) | ||||||
Statement of Comprehensive Income [Abstract] | |||||||
Net loss | 1,071,695 | ||||||
Other comprehensive income (loss): | |||||||
Change in foreign currency translation adjustment | (2,876) | ||||||
Comprehensive loss | 1,068,819 | ||||||
Cash flows from operating activities: | |||||||
Earnings from discontinued operations, net of tax | (1,158,267) | ||||||
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||
Deferred income taxes | 20,001 | ||||||
Others | 91,425 | ||||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | (35,011) | ||||||
Deferred commissions | 0 | ||||||
Other assets | 654 | ||||||
Accounts payable and other liabilities | (29,274) | ||||||
Deferred Revenue | (1,555) | ||||||
Net cash used in operating activities | (40,332) | ||||||
Net cash from investing activities | (7,795) | ||||||
Net cash from financing activities | (820,644) | ||||||
Net cash provided by discontinued operations | 2,277,338 | ||||||
Effect of exchange rate changes on cash | (1,811) | ||||||
Net change in cash and cash equivalents | 1,406,756 | ||||||
Cash and cash equivalents at beginning of period | $ 1,546,774 | $ 140,018 |
TOPIC 606 ADOPTION IMPACT AND_5
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 80,021 | $ 59,121 | $ 207,304 | $ 159,891 |
Subscription | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 171,184 | 125,157 | ||
Marketplace and Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 36,120 | 34,734 | ||
United States | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 189,997 | 143,937 | ||
Europe | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 13,858 | 12,916 | ||
APAC | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 3,449 | $ 3,038 |
TOPIC 606 ADOPTION IMPACT AND_6
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions | 9 Months Ended |
Dec. 31, 2018USD ($) | |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 335.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-10 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 2 years 6 months |
EARNINGS (LOSS) PER SHARE AND_3
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY Reconciliation of basic and diluted earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||||
Net earnings (loss) from continuing operations | $ (15,261) | $ 2,534 | $ (84,259) | $ (50,546) |
Earnings (loss) from discontinued operations, net of tax | 1,071,661 | 20,407 | 1,158,267 | 68,851 |
Net earnings | $ 1,056,400 | $ 22,941 | $ 1,074,008 | $ 18,305 |
Basic loss per share: | ||||
Basic weighted-average shares outstanding (in shares) | 77,398 | 79,043 | 77,260 | 78,983 |
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (0.20) | $ 0.03 | $ (1.09) | $ (0.64) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 13.85 | 0.26 | 14.99 | 0.87 |
Basic earnings (loss) per share (in USD per share) | $ 13.65 | $ 0.29 | $ 13.90 | $ 0.23 |
Diluted earnings (loss) per share: | ||||
Basic weighted-average shares outstanding (in shares) | 77,398 | 79,043 | 77,260 | 78,983 |
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method (in shares) | 0 | 2,826 | 0 | 0 |
Diluted weighted-average shares outstanding | 77,398 | 81,869 | 77,260 | 78,983 |
Diluted earnings (loss) per share from continuing operations (in dollars per share) | $ (0.20) | $ 0.03 | $ (1.09) | $ (0.64) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 13.85 | 0.25 | 14.99 | 0.87 |
Diluted earnings (loss), net per share (in USD per share) | $ 13.65 | $ 0.28 | $ 13.90 | $ 0.23 |
EARNINGS (LOSS) PER SHARE AND_4
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY Narrative (Details) - USD ($) | Oct. 25, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Antidilutive securities excluded from computation of earnings per share, amount | 22,000 | 97,000 | 235,000 | 89,000 | |||
Stock repurchase program, authorized amount | $ 500,000,000 | ||||||
Repurchase of stock (in shares) | 2,300,000 | 2,300,000 | |||||
Acquisition of treasury stock | $ 64,100,000 | $ 64,107,000 | $ 39,441,000 | ||||
Treasury stock, at cost | $ 1,743,646,000 | 1,743,646,000 | $ 1,139,291,000 | ||||
Acquisition of treasury stock from tender offer | 503,393,000 | $ 0 | |||||
Accumulated other comprehensive income | 7,891,000 | 7,891,000 | $ 10,767,000 | ||||
Common Stock Repurchase Program | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Stock repurchase program, authorized amount | $ 1,000,000,000 | $ 1,000,000,000 | |||||
Repurchase of stock (in shares) | 22,400,000 | 22,400,000 | |||||
Treasury stock, at cost | $ 438,700,000 | $ 438,700,000 | |||||
Stock repurchase program, remaining amount | $ 561,300,000 | $ 561,300,000 | |||||
Dutch Auction Tender Offer | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Stock repurchase program, authorized amount | $ 500,000,000 | ||||||
Repurchase of stock (in shares) | 11,235,955 | 11,235,955 | |||||
Repurchase of common stock, percentage | 2.00% | 14.20% | |||||
Treasury stock cost per share (in dollar per share) | $ 44.50 | ||||||
Acquisition of treasury stock from tender offer | $ 503,400,000 | ||||||
Stock Options And Warrants And Restricted Stock Units [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Antidilutive securities excluded from computation of earnings per share, amount | 3,300,000 | 3,500,000 | 2,600,000 |
EARNINGS (LOSS) PER SHARE AND_5
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY Anti-dilutive shares (Details) - $ / shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 22 | 97 | 235 | 89 |
Range of exercise prices for options (in dollars per share) | $ 32.85 | $ 32.85 |
DISPOSITION (Details)
DISPOSITION (Details) - USD ($) $ in Millions | Oct. 01, 2018 | Dec. 31, 2018 | Jul. 02, 2018 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Incremental increase to previous periods | $ 4.5 | ||
Acxiom Marketing Solutions | Discontinued Operations | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Cash proceeds from disposal of operations | $ 2,300 | ||
Proceeds from divestiture of businesses | $ 2,300 | ||
Closing adjustments and transaction costs | 49 | ||
Repayments of debt | $ 230.5 | ||
Discontinued operation, gain (loss) on disposal of discontinued operation, net of tax | $ 1,700 |
DISPOSITION_ Reconciliation of
DISPOSITION: Reconciliation of the major classes of line items constituting earnings from discontinued operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Earnings from discontinued operations, net of tax | $ 1,071,661 | $ 20,407 | $ 1,158,267 | $ 68,851 |
Acxiom Marketing Solutions | Discontinued Operations | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Revenues | 0 | 175,750 | 332,185 | 512,734 |
Costs of revenues | 24,677 | 91,394 | 213,512 | 272,356 |
Gross profit | (24,677) | 84,356 | 118,673 | 240,378 |
Research and development | 6,703 | 9,007 | 21,621 | 26,144 |
Sales and marketing | 18,110 | 25,898 | 60,743 | 74,384 |
General and administrative | 27,767 | 9,957 | 72,150 | 26,926 |
Gains, losses and other items, net | (1,658,667) | 747 | (1,656,014) | 1,479 |
Total operating expense | (1,606,087) | 45,609 | (1,501,500) | 128,933 |
Income from discontinued operations | 1,581,410 | 38,747 | 1,620,173 | 111,445 |
Interest expense | 0 | (2,566) | (5,702) | (7,432) |
Other, net | 74 | (13) | 97 | (176) |
Earnings from discontinued operations before income taxes | 1,581,484 | 36,168 | 1,614,568 | 103,837 |
Income taxes | 509,823 | 15,761 | 456,301 | 34,986 |
Earnings from discontinued operations, net of tax | $ 1,071,661 | $ 20,407 | $ 1,158,267 | $ 68,851 |
DISPOSITION_ The carrying amoun
DISPOSITION: The carrying amounts of the major classes of assets and liabilities of AMS (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] $ in Thousands | Mar. 31, 2018USD ($) |
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |
Cash and cash equivalents | $ 2,261 |
Trade accounts receivables, net | 115,141 |
Other current assets | 20,972 |
Property and equipment, net | 124,193 |
Software, net | 21,014 |
Goodwill | 392,356 |
Purchased software licenses, net | 7,502 |
Deferred income taxes | 1,522 |
Other assets, net | 3,815 |
Assets held for sale | 688,776 |
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |
Trade accounts payable | 27,929 |
Accrued payroll and related expenses | 28,725 |
Other accrued expenses | 16,241 |
Deferred revenue | 27,214 |
Income taxes payable | 244 |
Other liabilities | 3,707 |
Liabilities held for sale | $ 104,060 |
DISPOSITION_ The related cash i
DISPOSITION: The related cash inflows and outflows and revenues and expenses (Details) $ in Thousands | 3 Months Ended |
Dec. 31, 2018USD ($) | |
Discontinued Operations and Disposal Groups [Abstract] | |
Cash inflows | $ 9,417 |
Cash outflows | 521 |
Revenues | 11,832 |
Costs | $ 4,176 |
STOCK-BASED COMPENSATION_ (Deta
STOCK-BASED COMPENSATION: (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | ||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | |
Stock Option Activity - Number of Shares | |||
Outstanding at beginning of the period (in shares) | 2,456,184 | ||
Exercised (in shares) | (870,453) | ||
Forfeited or cancelled (in shares) | (25,591) | ||
Outstanding at end of the period (in shares) | 1,560,140 | ||
Exercisable at the end of the period (in shares) | 1,378,721 | ||
Weighted-average exercise price per share | |||
Outstanding at the beginning of the period (in dollars per share) | $ 13.30 | ||
Exercised (in dollars per share) | 11.22 | ||
Forfeited or cancelled (in dollars per share) | 18.64 | ||
Outstanding at the end of the period (in dollars per share) | 14.37 | ||
Exercisable at the end of the period (in dollars per share) | $ 15.27 | ||
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term | 4 years 9 months 18 days | ||
Exercisable at the end of the period | 4 years 6 months | ||
Aggregate intrinsic value | |||
Exercised | $ 27,517 | ||
Outstanding at the end of the period | 37,850 | ||
Exercisable at the end of the period | $ 32,210 | ||
Stock Option and Equity Compensation Plans | |||
Share-based compensation | |||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 42,300,000 | 37,300,000 | |
Shares which remained available for future grants (in shares) | 12,300,000 | ||
Amended and Restated 2005 Equity Compensation Plan | |||
Share-based compensation | |||
Shares which remained available for future grants (in shares) | 37,900,000 | 32,900,000 |
STOCK-BASED COMPENSATION_ Stock
STOCK-BASED COMPENSATION: Stock-based compensation activity, by award type (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based compensation | ||
Other non-employee stock-based compensation | $ 900 | $ 900 |
Total non-cash stock-based compensation | 61,600 | 38,900 |
Stock-based compensation of discontinued operations | 62,900 | 7,800 |
Total non-cash stock-based compensation included in the condensed consolidated statement of equity | 113,713 | 46,700 |
Pacific Data Partners LLC | ||
Share-based compensation | ||
Share-based compensation expense | 11,800 | |
Stock options | ||
Share-based compensation | ||
Share-based compensation expense | 2,600 | 4,000 |
Performance stock | ||
Share-based compensation | ||
Share-based compensation expense | 200 | 900 |
Restricted stock units | ||
Share-based compensation | ||
Share-based compensation expense | 34,600 | 21,600 |
Arbor Holdback Agreement | Arbor | ||
Share-based compensation | ||
Share-based compensation expense | 11,500 | 11,500 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | ||
Share-based compensation | ||
Share-based compensation expense | 11,800 | 0 |
Liability-based equity awards | ||
Share-based compensation | ||
Total non-cash stock-based compensation | $ (10,800) | $ 0 |
STOCK-BASED COMPENSATION_ Sto_2
STOCK-BASED COMPENSATION: Stock options outstanding and exercisable (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Stock options outstanding and exercisable by exercise price range | ||
Options outstanding (in shares) | 1,560,140 | |
Options outstanding - Weighted-average remaining contractual life | 4 years 9 months 18 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.37 | |
Options exercisable (in shares) | 1,378,388 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 15.27 | |
Range of exercise price per share from $0.61 to $9.99 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 0.61 | |
Exercise price per share, high end of range (in dollars per share) | $ 9.99 | |
Options outstanding (in shares) | 304,455 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 3 months 18 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 1.45 | |
Options exercisable (in shares) | 192,111 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.46 | |
Range of exercise price per share from $10.00 to $19.99 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 10 | |
Exercise price per share, high end of range (in dollars per share) | $ 19.99 | |
Options outstanding (in shares) | 732,241 | |
Options outstanding - Weighted-average remaining contractual life | 3 years 10 months 24 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.78 | |
Options exercisable (in shares) | 662,833 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 14.50 | |
Range of exercise price per share from $20.00 to $24.99 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 20 | |
Exercise price per share, high end of range (in dollars per share) | $ 24.99 | |
Options outstanding (in shares) | 523,444 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 9 months 18 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.31 | |
Options exercisable (in shares) | 523,444 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.31 | |
Stock options | ||
Stock options outstanding and exercisable by exercise price range | ||
Share-based compensation expense | $ 2.6 | $ 4 |
Share-based compensation not yet recognized | $ 3.4 | |
Period for recognition of unrecognized stock-based compensation expense | 3 years |
STOCK-BASED COMPENSATION_ Perfo
STOCK-BASED COMPENSATION: Performance Stock Option Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercised (in dollars per share) | $ 11.22 | |
Number of shares | ||
Outstanding at beginning of the period (in shares) | 2,456,184 | |
Forfeited or cancelled (in shares) | (25,591) | |
Outstanding at end of the period (in shares) | 1,560,140 | |
Exercisable at the end of the period (in shares) | 1,378,721 | |
Weighted-average exercise price per share | ||
Outstanding at the beginning of the period (in dollars per share) | $ 13.30 | |
Forfeited or cancelled (in dollars per share) | 18.64 | |
Outstanding at the end of the period (in dollars per share) | 14.37 | |
Exercisable at the end of the period (in dollars per share) | $ 15.27 | |
Weighted-average remaining contractual term | ||
Weighted average remaining contractual term | 4 years 9 months 18 days | |
Exercisable at the end of the period | 4 years 6 months | |
Aggregate intrinsic value | ||
Outstanding at the end of the period | $ 37,850 | |
Exercisable at the end of the period | 32,210 | |
Restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | 34,600 | $ 21,600 |
Performance stock | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | 200 | $ 900 |
Future expense for performance stock option units | $ 600 | |
Period for recognition of unrecognized stock-based compensation expense | 3 years | |
Number of shares | ||
Outstanding at beginning of the period (in shares) | 322,823 | |
Forfeited or cancelled (in shares) | (187,885) | |
Outstanding at end of the period (in shares) | 134,938 | |
Exercisable at the end of the period (in shares) | 0 | |
Weighted-average exercise price per share | ||
Outstanding at the beginning of the period (in dollars per share) | $ 21.42 | |
Forfeited or cancelled (in dollars per share) | 21.41 | |
Outstanding at the end of the period (in dollars per share) | 21.44 | |
Exercisable at the end of the period (in dollars per share) | $ 0 | |
Weighted-average remaining contractual term | ||
Weighted average remaining contractual term | 1 year 4 months 24 days | |
Exercisable at the end of the period | 0 years | |
Aggregate intrinsic value | ||
Outstanding at the end of the period | $ 2,320 | |
Exercisable at the end of the period | $ 0 | |
Performance stock | Shares Vesting Based On Relevant Performance Period At March 31 2018 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of units reached maturity | 161,412 | |
Vesting percentage | 0.00% |
STOCK-BASED COMPENSATION_ Non v
STOCK-BASED COMPENSATION: Non vested time vesting restricted stock unit activity (Details) - Restricted stock units - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Restricted Stock Unit Activity - Other disclosures | |||
Share-based compensation expense | $ 34.6 | $ 21.6 | |
Time Based Vesting | |||
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 2,702,497 | ||
Granted (in shares) | 1,877,874 | ||
Vested (in shares) | (1,363,871) | ||
Forfeited or cancelled (in shares) | (265,878) | ||
PSUs converted to RSUs in conjunction with AMS disposition (in shares) | 1,017,422 | ||
Outstanding at the end of the period (in shares) | 3,968,044 | 2,702,497 | |
Non-vested restricted stock units, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 24.60 | ||
Granted (in dollars per share) | 33.66 | ||
Vested (in dollars per share) | 24.60 | ||
Forfeited or cancelled (in dollars per share) | 25.39 | ||
PSUs converted to RSUs in conjunction with AMS disposition (in dollars per share) | 21.21 | ||
Outstanding at the end of the period (in dollars per share) | $ 27.97 | $ 24.60 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 2 years 4 months 13 days | 2 years 4 months 2 days | |
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 63.2 | ||
Total fair value | $ 54.4 | ||
Performance stock | |||
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 561,018 | ||
Granted (in shares) | 516,954 | ||
Additional earned performance shares (in shares) | 176 | ||
Vested (in shares) | (61,330) | ||
Forfeited or cancelled (in shares) | (129,501) | ||
PSUs converted to RSUs in conjunction with AMS disposition (in shares) | (508,711) | ||
Outstanding at the end of the period (in shares) | 378,606 | 561,018 | |
Non-vested restricted stock units, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 25.68 | ||
Granted (in dollars per share) | 40.82 | ||
Additional earned performance shares (in dollars per share) | 23.89 | ||
Vested (in dollars per share) | 24.22 | ||
Forfeited or cancelled (in dollars per share) | 25.15 | ||
PSUs converted to RSUs in conjunction with AMS disposition (in dollars per share) | 28.08 | ||
Outstanding at the end of the period (in dollars per share) | $ 43.55 | $ 25.68 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 3 years 5 months 12 days | 2 years 6 months 10 days | |
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 21.1 | ||
Performance Shares Vesting Total Shareholder Return | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 186,539 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 5.8 | ||
Performance Shares Vesting Under The Second Plan | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 330,415 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 15.3 | ||
Share-based Compensation Award, Tranche One | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 12.5 | ||
Share-based Compensation Award, Tranche Two | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 42.5 | ||
Share-based Compensation Award, Tranche Three | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 27.9 | ||
Share-based Compensation Award, Tranche Four | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 15.6 | ||
Share-based Compensation Award, Tranche Five | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | $ 4.2 | ||
Vesting in four years | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 197,115 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting period | 4 years | ||
Partial cliff vest tranche one | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 1,272,337 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 25.00% | ||
Partial cliff vesting tranche two | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 330,415 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 50.00% | ||
Vesting in three years | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 75.00% | ||
Vesting period | 3 years | ||
Vesting in two years | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 50.00% | ||
Vesting period | 2 years | ||
Vesting in one year | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 78,007 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting period | 1 year | ||
Minimum | Performance Shares Vesting Total Shareholder Return | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 25.00% | ||
Minimum | Performance Shares Vesting Under The Second Plan | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 0.00% | ||
Maximum | Performance Shares Vesting Total Shareholder Return | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 200.00% | ||
Maximum | Performance Shares Vesting Under The Second Plan | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 200.00% |
STOCK-BASED COMPENSATION_ Restr
STOCK-BASED COMPENSATION: Restricted Stock Unit Activity Related to Disposition of AMS (Details) - Time Vesting Restricted Stock Units $ in Millions | 9 Months Ended |
Dec. 31, 2018USD ($)shares | |
Share-based compensation | |
Accelerated vesting (in shares) | shares | 1,187,344 |
Accelerated compensation cost | $ 54 |
Incremental compensation cost | 27 |
Accelerated original grant date fair value, compensation cost | $ 27 |
Conversion percentage | 200.00% |
STOCK-BASED COMPENSATION_ Share
STOCK-BASED COMPENSATION: Share activity related to PSU conversions (Details) | Oct. 01, 2018shares |
Performance Based Restricted Stock Units | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (617,101) |
Performance Based Restricted Stock Units | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (214,596) |
Performance Based Restricted Stock Units | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (185,778) |
Performance Based Restricted Stock Units | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (216,727) |
Performance Based Restricted Stock Units | Continuing operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (508,711) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (168,939) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (153,233) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (186,539) |
Performance Based Restricted Stock Units | Discontinued Operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (108,390) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (45,657) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (32,545) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (30,188) |
Time Vesting Restricted Stock Units | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 1,234,202 |
Time Vesting Restricted Stock Units | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 429,192 |
Time Vesting Restricted Stock Units | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 371,556 |
Time Vesting Restricted Stock Units | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 433,454 |
Time Vesting Restricted Stock Units | Continuing operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 1,017,422 |
Time Vesting Restricted Stock Units | Continuing operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 337,878 |
Time Vesting Restricted Stock Units | Continuing operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 306,466 |
Time Vesting Restricted Stock Units | Continuing operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 373,078 |
Time Vesting Restricted Stock Units | Discontinued Operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 216,780 |
Time Vesting Restricted Stock Units | Discontinued Operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 91,314 |
Time Vesting Restricted Stock Units | Discontinued Operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 65,090 |
Time Vesting Restricted Stock Units | Discontinued Operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 60,376 |
STOCK-BASED COMPENSATION_ Recog
STOCK-BASED COMPENSATION: Recognition of incremental and accelerated compensation costs related to the PSU conversions (Details) - Performance Based Restricted Stock Units $ in Thousands | Oct. 01, 2018USD ($) |
Share-based compensation | |
Incremental compensation cost | $ 8,778 |
Accelerated compensation cost | 1,607 |
Continuing operations | |
Share-based compensation | |
Incremental compensation cost | 7,179 |
Accelerated compensation cost | 0 |
Discontinued Operations | |
Share-based compensation | |
Incremental compensation cost | 1,599 |
Accelerated compensation cost | $ 1,607 |
STOCK-BASED COMPENSATION_ Other
STOCK-BASED COMPENSATION: Other (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Share-based compensation | |||
Non-cash stock-based compensation | $ 113,713 | $ 46,700 | |
Payments related to tax withholding for share-based compensation | $ 36,906 | 10,202 | |
Shares paid for tax withholding for share based compensation | 953,523 | ||
Percentage of Increment | 0.0333% | ||
Share-based Activity - Other disclosures | |||
Holdback expenses | $ 31,900 | ||
Non-cash stock compensation expense | 61,547 | 38,844 | |
Other accrued expenses | $ 55,135 | $ 39,624 | |
Other performance based | |||
Share-based compensation activity | |||
Outstanding at the beginning of the period (in shares) | 111,111 | ||
Vested (in shares) | (45,364) | ||
Forfeited or cancelled (in shares) | (65,747) | ||
Outstanding at the end of the period (in shares) | 0 | 111,111 | |
Share-based compensation, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 5.33 | ||
Vested (in dollars per share) | 5.33 | ||
Forfeited or cancelled (in dollars per share) | 5.33 | ||
Outstanding at the end of the period (in dollars per share) | $ 0 | $ 5.33 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 0 years | 0 years | |
Arbor Holdback Agreement | |||
Share-based Activity - Other disclosures | |||
Period for recognition of unrecognized stock-based compensation expense | 2 years | ||
Holdback expenses | $ 11,500 | ||
Future expense expected | 6,400 | ||
Arbor | |||
Share-based Activity - Other disclosures | |||
Holdback consideration transferred | 38,300 | ||
Arbor | Arbor Holdback Agreement | |||
Share-based Activity - Other disclosures | |||
Share-based compensation expense | 11,500 | 11,500 | |
Pacific Data Partners LLC | |||
Share-based compensation | |||
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized | 13,800 | ||
Share-based Activity - Other disclosures | |||
Share-based compensation expense | 11,800 | ||
Other accrued expenses | $ 12,400 | ||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||
2,019 | 3,900 | ||
2,020 | 15,800 | ||
2,021 | 15,800 | ||
2,022 | 15,700 | ||
Shares Vesting Based On Relevant Performance Period At March 31 2018 | Other performance based | |||
Share-based compensation | |||
Share-based compensation arrangement by share-based payment award, non-option equity instruments, percentage reduction in vested shares | 59.00% | ||
Discontinued Operations | |||
Share-based Activity - Other disclosures | |||
Share-based compensation expense | $ 62,900 | $ 7,800 |
OTHER CURRENT AND NONCURRENT _3
OTHER CURRENT AND NONCURRENT ASSETS: (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Mar. 31, 2018 |
Other current assets | ||
Prepaid expenses and other | $ 13,660 | $ 6,622 |
Assets of non-qualified retirement plan | 13,706 | 13,551 |
Other current assets | 27,366 | 20,173 |
Other noncurrent assets | ||
Acquired intangible assets, net | 26,562 | 33,922 |
Other miscellaneous noncurrent assets | 7,998 | 3,932 |
Other assets, net | $ 34,560 | $ 37,854 |
OTHER ACCRUED EXPENSES_ (Detail
OTHER ACCRUED EXPENSES: (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Mar. 31, 2018 |
Other Accrued Expenses [Abstract]. | ||
Liabilities of non-qualified retirement plan | $ 13,706 | $ 13,551 |
Other accrued expenses | 41,429 | 26,073 |
Other accrued expenses | $ 55,135 | $ 39,624 |
GOODWILL AND INTANGIBLE ASSET_3
GOODWILL AND INTANGIBLE ASSETS: (Details) $ in Thousands | 9 Months Ended |
Dec. 31, 2018USD ($) | |
Goodwill | |
Goodwill at the beginning of year | $ 203,639 |
Reallocation of segments | 1,377 |
Change in foreign currency translation adjustment | (345) |
Goodwill at the end of year | 204,671 |
U.S. | |
Goodwill | |
Goodwill at the end of year | 201,449 |
APAC | |
Goodwill | |
Goodwill at the end of year | $ 3,222 |
GOODWILL AND INTANGIBLE ASSET_4
GOODWILL AND INTANGIBLE ASSETS: - Amounts allocated to intangible assets from acquisitions (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2018 | Mar. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | $ 113,600 | $ 113,600 |
Accumulated amortization | (82,027) | (69,072) |
Total finite-lived intangible assets, net | 31,573 | 44,528 |
Developed technology, gross (Software) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 54,000 | 54,000 |
Accumulated amortization | (48,989) | (43,383) |
Total finite-lived intangible assets, net | 5,011 | 10,617 |
Trade name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 35,800 | 35,800 |
Accumulated amortization | (24,774) | (20,400) |
Total finite-lived intangible assets, net | 11,026 | 15,400 |
Publisher Relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 23,800 | 23,800 |
Accumulated amortization | (8,264) | (5,289) |
Total finite-lived intangible assets, net | $ 15,536 | $ 18,511 |
Minimum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization period | 2 years | |
Maximum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization period | 6 years |
GOODWILL AND INTANGIBLE ASSET_5
GOODWILL AND INTANGIBLE ASSETS: - Estimated future amortization expenses (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 13,000 | $ 18,000 | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2,019 | 2,981 | ||
2,020 | 11,925 | ||
2,021 | 8,083 | ||
2,022 | 5,150 | ||
2,023 | 3,434 | ||
Total finite-lived intangible assets, net | $ 31,573 | $ 44,528 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 10,700 | $ 8,900 | |
Accelerated depreciation | 2,000 | ||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 58,782 | $ 62,353 | |
Less accumulated depreciation and amortization | 34,195 | 30,013 | |
Property and equipment, net of accumulated depreciation and amortization | 24,587 | 32,340 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 16,920 | 15,635 | |
Data processing equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 35,727 | 39,938 | |
Office furniture and other equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 6,135 | $ 6,780 |
LONG-TERM DEBT_ Narrative (Deta
LONG-TERM DEBT: Narrative (Details) $ in Millions | Oct. 01, 2018USD ($) |
Discontinued Operations | Acxiom Marketing Solutions | |
Debt Instrument [Line Items] | |
Repayments of debt | $ 230.5 |
LONG-TERM DEBT_ (Details)
LONG-TERM DEBT: (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Mar. 31, 2018 |
Debt Instrument [Line Items] | ||
Total long-term debt and capital leases | $ 233,293 | |
Less current installments | 1,583 | |
Less deferred debt financing costs | 3,873 | |
Long-term debt, excluding current installments and deferred debt financing costs | $ 0 | 227,837 |
Revolving credit facility | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital leases | 230,000 | |
Other debt and long-term liabilities | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital leases | $ 3,293 |
ALLOWANCE FOR DOUBTFUL ACCOUN_2
ALLOWANCE FOR DOUBTFUL ACCOUNTS: (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Mar. 31, 2018 |
Valuation and Qualifying Accounts [Abstract] | ||
Allowances for doubtful accounts, returns and credits | $ 3.4 | $ 3.1 |
RESTRUCTURING, IMPAIRMENT AND_3
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Summary of restructuring activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2018 | |
Restructuring Reserve [Roll Forward] | |||||
Restructuring charges and adjustments | $ 5,043 | $ (765) | $ 5,534 | $ 2,066 | |
Restructuring Reserve, at the end of the period | $ 6,000 | ||||
Continuing operations | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, at the beginning of the period | 5,829 | 5,829 | |||
Restructuring charges and adjustments | 5,534 | ||||
Payments | (2,241) | ||||
Restructuring Reserve, at the end of the period | 9,122 | ||||
Continuing operations | Associate-related reserves | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, at the beginning of the period | 541 | 541 | |||
Restructuring charges and adjustments | 3,952 | ||||
Payments | (1,363) | ||||
Restructuring Reserve, at the end of the period | 3,130 | ||||
Continuing operations | Lease accruals | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, at the beginning of the period | $ 5,288 | 5,288 | |||
Restructuring charges and adjustments | 1,582 | ||||
Payments | (878) | ||||
Restructuring Reserve, at the end of the period | $ 5,992 |
RESTRUCTURING, IMPAIRMENT AND_4
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | $ 5,043 | $ (765) | $ 5,534 | $ 2,066 | ||||
Restructuring reserve | $ 6,000 | |||||||
Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 5,500 | $ 2,800 | $ 6,500 | |||||
Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | $ 9,200 | |||||||
Employee Severance | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 200 | |||||||
Employee Severance | Restructuring Activity 2018 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 3,900 | |||||||
Restructuring reserve | 2,800 | |||||||
Employee Severance | Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 2,600 | |||||||
Termination Of Associates | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 800 | $ 2,600 | 3,000 | |||||
Leased office facilities | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 1,500 | |||||||
Adjustments to estimates related to the fiscal 2015 lease accruals | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 1,500 | |||||||
Contract Termination | Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 4,700 | |||||||
Leasehold Improvement Write Offs | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | $ 800 | $ 2,100 | ||||||
Leasehold Improvement Write Offs | Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | 2,000 | |||||||
United States Australia China And Europe | Employee Severance | Restructuring Activity2015 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Restructuring charges and adjustments | $ 2,600 | |||||||
Restructuring reserve | $ 300 | $ 300 |
RESTRUCTURING, IMPAIRMENT AND_5
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Gains, losses and other items (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring and Related Activities [Abstract] | ||||||||
Restructuring plan charges and adjustments | $ 5,043 | $ (765) | $ 5,534 | $ 2,066 | ||||
Other | 0 | (23) | 0 | (24) | ||||
Gains, losses and other items, net | $ 5,043 | $ 5,043 | $ 5,534 | $ 2,042 | $ 5,534 | $ 2,042 | ||
Gains, losses and other items, net | $ (788) | $ (788) |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: (Details) - Continuing operations - Operating lease and licensing agreements $ in Millions | 9 Months Ended |
Dec. 31, 2018USD ($) | |
Commitments | |
Term of future commitment for lease payments under noncancellable operating leases (in years) | 7 years |
Contractual obligation | $ 50.2 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Mar. 31, 2018 |
Fair value of assets and liabilities | ||
Other current assets | $ 27,366 | $ 20,173 |
Fair value measurements on recurring basis | Total | ||
Fair value of assets and liabilities | ||
Other current assets | 13,706 | |
Total assets | 13,706 | |
Fair value measurements on recurring basis | Total | Level 1 | ||
Fair value of assets and liabilities | ||
Other current assets | 13,706 | |
Total assets | 13,706 | |
Fair value measurements on recurring basis | Total | Level 2 | ||
Fair value of assets and liabilities | ||
Other current assets | 0 | |
Total assets | 0 | |
Fair value measurements on recurring basis | Total | Level 3 | ||
Fair value of assets and liabilities | ||
Other current assets | 0 | |
Total assets | $ 0 |
Uncategorized Items - acxm-2018
Label | Element | Value |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 12,727,000 |
Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 12,727,000 |