Cover page
Cover page - shares | 3 Months Ended | |
Jun. 30, 2019 | Aug. 01, 2019 | |
Cover page. | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 1-38669 | |
Entity Registrant Name | LiveRamp Holdings, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 83-1269307 | |
Entity Address, Address Line One | 225 Bush Street, Seventeenth Floor | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94104 | |
City Area Code | 866 | |
Local Phone Number | 352-3267 | |
Title of 12(b) Security | Common Stock, $.10 Par Value | |
Trading Symbol | RAMP | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Smaller Reporting Company | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 67,640,066 | |
Entity Central Index Key | 0000733269 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 1,005,477 | $ 1,061,473 |
Trade accounts receivable, net | 81,061 | 78,563 |
Refundable income taxes | 8,753 | 7,890 |
Other current assets | 42,917 | 44,150 |
Total current assets | 1,138,208 | 1,192,076 |
Property and equipment, net of accumulated depreciation and amortization | 24,607 | 26,043 |
Software, net of accumulated amortization | 7,100 | 6,861 |
Goodwill | 207,778 | 204,656 |
Deferred income taxes | 35 | 35 |
Deferred commissions, net | 10,567 | 10,741 |
Other assets, net | 51,009 | 32,499 |
Total assets | 1,439,304 | 1,472,911 |
Current liabilities: | ||
Trade accounts payable | 29,930 | 31,203 |
Accrued payroll and related expenses | 17,081 | 18,715 |
Other accrued expenses | 70,929 | 40,916 |
Deferred revenue | 3,170 | 4,284 |
Total current liabilities | 121,110 | 95,118 |
Deferred income taxes | 241 | 39 |
Other liabilities | 45,796 | 46,922 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Common stock | 14,245 | 14,187 |
Additional paid-in capital | 1,422,879 | 1,406,813 |
Retained earnings | 1,627,465 | 1,669,605 |
Accumulated other comprehensive income | 7,334 | 7,801 |
Treasury stock, at cost | (1,799,766) | (1,767,574) |
Total equity | 1,272,157 | 1,330,832 |
TOTAL LIABILITIES AND EQUITY | $ 1,439,304 | $ 1,472,911 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||
Revenues | $ 82,511 | $ 62,471 |
Cost of revenue | 36,426 | 23,654 |
Gross profit | 46,085 | 38,817 |
Operating expenses: | ||
Research and development | 23,722 | 16,970 |
Sales and marketing | 43,144 | 33,323 |
General and administrative | 25,318 | 18,125 |
Gains, losses and other items, net | 2,276 | 1 |
Total operating expenses | 94,460 | 68,419 |
Loss from operations | (48,375) | (29,602) |
Other income (expense): | ||
Total other income | 5,882 | 356 |
Loss from continuing operations before income taxes | (42,493) | (29,246) |
Income taxes (benefit) | (353) | (1,428) |
Net loss from continuing operations | (42,140) | (27,818) |
Earnings from discontinued operations, net of tax | 0 | 24,803 |
Net loss | $ (42,140) | $ (3,015) |
Basic earnings (loss) per share: | ||
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (0.61) | $ (0.36) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.32 |
Basic earnings (loss) per share (in dollars per share) | (0.61) | (0.04) |
Diluted earnings (loss) per share: | ||
Diluted earnings (loss) per share from continuing operations (in dollars per share) | (0.61) | (0.36) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.32 |
Diluted earnings (loss), net per share (in USD per share) | $ (0.61) | $ (0.04) |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (42,140) | $ (3,015) |
Other comprehensive loss: | ||
Change in foreign currency translation adjustment | (467) | (1,868) |
Comprehensive loss | $ (42,607) | $ (4,883) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENT OF EQUITY - 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) | 233,784 | (391,898) | ||||
Employee stock awards, benefit plans and other issuances | (5,928) | $ 23 | 4,093 | $ (10,044) | ||
Non-cash stock-based compensation (in shares) | 149,416 | |||||
Non-cash stock-based compensation | 16,811 | $ 15 | 16,796 | |||
Restricted stock units vested (in shares) | 1,259,681 | |||||
Restricted stock units vested | $ 126 | (126) | ||||
Acquisition of treasury stock (in shares) | (1,853,071) | |||||
Acquisition of treasury stock | (45,766) | $ (45,766) | ||||
Other comprehensive loss: | ||||||
Foreign currency translation | (1,868) | (1,868) | ||||
Net loss | (3,015) | (3,015) | ||||
Cumulative-effect adjustment from adoption of ASU 2014-09 | 12,727 | 12,727 | ||||
Balance, end of the period (in shares) at Jun. 30, 2018 | 137,722,557 | (60,549,886) | ||||
Balance, end of the period at Jun. 30, 2018 | 722,056 | $ 13,773 | 1,256,442 | 638,043 | 8,899 | $ (1,195,101) |
Balance, beginning of the period (in shares) at Mar. 31, 2019 | 141,865,888 | (73,167,892) | ||||
Balance, beginning of the period at Mar. 31, 2019 | 1,330,832 | $ 14,187 | 1,406,813 | 1,669,605 | 7,801 | $ (1,767,574) |
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 46,681 | (221,195) | ||||
Employee stock awards, benefit plans and other issuances | (11,033) | $ 4 | 1,056 | $ (12,093) | ||
Non-cash stock-based compensation (in shares) | 51,362 | |||||
Non-cash stock-based compensation | 15,064 | $ 5 | 15,059 | |||
Restricted stock units vested (in shares) | 487,632 | |||||
Restricted stock units vested | 0 | $ 49 | (49) | |||
Acquisition of treasury stock (in shares) | (412,200) | |||||
Acquisition of treasury stock | (20,099) | $ (20,099) | ||||
Other comprehensive loss: | ||||||
Foreign currency translation | (467) | (467) | ||||
Net loss | (42,140) | (42,140) | ||||
Balance, end of the period (in shares) at Jun. 30, 2019 | 142,451,563 | (73,801,287) | ||||
Balance, end of the period at Jun. 30, 2019 | $ 1,272,157 | $ 14,245 | $ 1,422,879 | $ 1,627,465 | $ 7,334 | $ (1,799,766) |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (42,140) | $ (3,015) |
Earnings from discontinued operations, net of tax | 0 | (24,803) |
Non-cash operating activities: | ||
Depreciation and amortization | 8,877 | 9,403 |
Loss on disposal or impairment of assets | 85 | (15) |
Provision for doubtful accounts | 962 | (464) |
Deferred income taxes | 7 | (1,692) |
Non-cash stock compensation expense | 18,630 | 17,798 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (3,451) | (852) |
Deferred commissions | 174 | (998) |
Other assets | 3,600 | (574) |
Accounts payable and other liabilities | (188) | 4,403 |
Income taxes | (863) | (1,898) |
Deferred revenue | (1,101) | 427 |
Net cash used in operating activities | (15,408) | (2,280) |
Cash flows from investing activities: | ||
Capitalized software | 0 | (899) |
Capital expenditures | (4,888) | (712) |
Payments for investments | 0 | (2,500) |
Cash paid in acquisition, net of cash received | (4,479) | 0 |
Net cash used in investing activities | (9,367) | (4,111) |
Cash flows from financing activities: | ||
Payments of debt | 0 | (592) |
Fees from debt refinancing | 0 | (300) |
Proceeds related to the issuance of common stock under stock and employee benefit plans | 1,060 | 4,116 |
Shares repurchased for tax withholdings upon vesting of stock-based awards | (12,093) | (10,044) |
Acquisition of treasury stock | (20,099) | (45,766) |
Net cash used in financing activities | (31,132) | (52,586) |
Cash flows from discontinued operations: | ||
From operating activities | 0 | 20,181 |
From investing activities | 0 | (6,573) |
Effect of exchange rate changes on cash | 0 | (167) |
Net cash provided by discontinued operations | 0 | 13,441 |
Effect of exchange rate changes on cash | (89) | (927) |
Net change in cash and cash equivalents | (55,996) | (46,463) |
Cash and cash equivalents at beginning of period | 1,061,473 | 140,018 |
Cash and cash equivalents at end of period | 1,005,477 | 93,555 |
Cash paid (received) during the period for: | ||
Income taxes, net of refunds | $ 110 | $ (1,100) |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | 3 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: These condensed consolidated financial statements have been prepared by LiveRamp Holdings, Inc. ("Registrant", "LiveRamp", we, us or the "Company"), 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, 2019 (“2019 Annual Report”), as filed with the SEC on May 28, 2019. This quarterly report and the accompanying condensed consolidated financial statements should be read in connection with the 2019 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, 2020. 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 2019 Annual Report. Accounting Pronouncements Adopted During the Current Year In January 2017, the Financial Accounting Standards Board ("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, goodwill impairment is recognized based on step one of the preceding guidance, which calculates the carrying value in excess of the reporting unit's fair value. 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. In the first quarter of fiscal 2020, we early adopted ASU 2017-04. The standard did not have an impact to our qualitative assessment for goodwill impairment that we performed in the first quarter of fiscal 2020. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), as a comprehensive new standard that amended various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. The new standard requires 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. The Company adopted the updated guidance as of April 1, 2019 using a modified retrospective transition method. See Note 2 of these notes to condensed consolidated financial statements for further details. Recent Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework”, which eliminates, modifies and adds disclosure requirements for fair value measurements. The update is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of this new standard on our condensed consolidated financial statements and does not expect the adoption will have a material impact on our condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract" ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement (“CCA”) that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. CCA’s, such as software as a service and other hosting arrangements, are evaluated for capitalized implementation costs in a similar manner as capitalized software development costs. If a CCA includes a software license, the software license element of the arrangement is accounted for in a manner consistent with the acquisition of other software licenses. If a CCA does not include a software license, the service element of the arrangement is accounted for as a service contract. ASU 2018-15 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of this new standard on our condensed consolidated financial statements and does not expect the adoption will have a material impact on our condensed consolidated financial statements. |
TOPIC 842 ADOPTION IMPACT AND L
TOPIC 842 ADOPTION IMPACT AND LEASES: | 3 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Topic 842 Adoption Impact and Leases | TOPIC 842 ADOPTION IMPACT AND LEASES On April 1, 2019, the Company adopted the new lease guidance using a modified retrospective transition method applied to existing leases as of April 1, 2019. Results for reporting periods beginning after March 31, 2019 are presented under the new guidance, while prior period comparative amounts are not adjusted and continue to be reported in accordance with historical guidance. The Company applied the new standard using the practical expedients permitted under the transition guidance where the Company: • did not reassess whether any expired or existing contracts contain a lease; • did not reassess the classification of existing leases; and • did not reassess initial direct costs for any existing leases. The Company uses its incremental borrowing rate at commencement date in determining the present value of lease payments. The Company uses judgment in determining its incremental borrowing rate, which includes selecting a yield curve based on a hypothetical credit rating. The resulting impact, as of the adoption date, to the condensed consolidated balance sheet of applying the new guidance in fiscal 2020 was an increase to right-of-use assets included in other assets, net of $22.9 million, an increase to short-term lease liabilities included in other accrued expenses of $8.4 million, an increase to long-term lease liabilities included in other liabilities of $17.9 million, and a decrease to deferred rent included in other liabilities of $3.4 million. There was no impact to stockholders' equity or the condensed consolidated statements of operations as a result of adopting the new guidance. The Company determines if an arrangement contains a lease or is a lease at inception, and whether lease and non-lease components are combined or not. Operating leases with a duration of less than 12 months are excluded from right-of-use assets and lease liabilities and related expense is recorded as incurred. As of June 30, 2019, right-of-use assets included in other assets, net were $20.9 million, short-term lease liabilities included in other accrued expenses were $8.4 million, and long-term lease liabilities included in other liabilities were $16.0 million. The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2024. Operating lease costs were $2.2 million for the three months ended June 30, 2019. Future minimum payments under all operating leases (including operating leases with a duration of less than 12 months) as of June 30, 2019 are as follows (dollars in thousands): Year Amount Remainder of Fiscal 2020 $ 7,023 Fiscal 2021 8,699 Fiscal 2022 8,255 Fiscal 2023 2,497 Fiscal 2024 571 Thereafter — Total undiscounted lease commitments 27,045 Less: Interest 2,561 Total discounted operating lease liabilities $ 24,484 Future minimum payments as of June 30, 2019 related to restructuring plans as a result of of the Company's exit from certain leased office facilities (see Note 14) are: Remainder of Fiscal 2020: $1,886; Fiscal 2021: $2,544; Fiscal 2022: $2,610; Fiscal 2023: $2,663; Fiscal 2024: $2,699; and Thereafter: $4,497. Supplemental information related to operating leases is as follows (dollars in thousands): Three months ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,134 Weighted average remaining lease term 3.1 years Weighted average discount rate 5.0 % As previously disclosed in our Fiscal 2019 Annual Report on Form 10-K and under the previous lease accounting standard, the future minimum payments under all operating leases as of March 31, 2019 was as follows (dollars in thousands): For the years ending March 31, 2020 2021 2022 2023 2024 Thereafter Total Operating leases 12,057 11,253 10,865 5,160 3,270 4,497 47,102 |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS: | 3 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). For the three months ended June 30, Primary Geographical Markets 2019 2018 United States $ 76,541 $ 56,222 Europe 4,747 4,920 APAC 1,223 1,329 $ 82,511 $ 62,471 Major Offerings/Services Subscription $ 68,326 $ 51,329 Marketplace and Other 14,185 11,142 $ 82,511 $ 62,471 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 $319.4 million as of June 30, 2019. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2024. |
LOSS PER SHARE AND STOCKHOLDERS
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: | 3 Months Ended |
Jun. 30, 2019 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
LOSS PER SHARE AND STOCKHOLDERS' EQUITY: | LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Loss Per Share A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): For the three months ended June 30, 2019 2018 Basic loss per share: Net loss from continuing operations $ (42,140) $ (27,818) Earnings from discontinued operations, net of tax — 24,803 Net loss $ (42,140) $ (3,015) Basic weighted-average shares outstanding 68,906 76,935 Continuing operations $ (0.61) $ (0.36) Discontinued operations — 0.32 Basic loss per share $ (0.61) $ (0.04) Diluted loss per share: Basic weighted-average shares outstanding 68,906 76,935 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — — Diluted weighted-average shares outstanding 68,906 76,935 Continuing operations $ (0.61) $ (0.36) Discontinued operations — 0.32 Diluted loss per share $ (0.61) $ (0.04) Due to the net loss from continuing operations during the three months ended June 30, 2019 and 2018, the dilutive effect of options and restricted stock units covering 2.8 million and 2.3 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 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 June 30, 2019 2018 Number of shares outstanding under options, warrants and restricted stock units plans 431 119 Range of exercise prices for options N/A $ 32.85 Stockholders’ Equity Under the modified common stock repurchase program, the Company may purchase up to $1.0 billion of its common stock through the period ending December 31, 2020. During the three months ended June 30, 2019, the Company repurchased 0.4 million shares of its common stock for $20.1 million under the stock repurchase program. Through June 30, 2019, the Company had repurchased a total of 23.0 million shares of its stock for $469.2 million under the stock repurchase program, leaving remaining capacity of $530.8 million. Accumulated other comprehensive income accumulated balances of $7.3 million and $7.8 million at June 30, 2019 and March 31, 2019, respectively, reflect accumulated foreign currency translation adjustments. |
ACQUISITIONS_
ACQUISITIONS: | 3 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
ACQUISITIONS: | ACQUISITIONS: Faktor On April 2, 2019, the Company acquired all of the outstanding shares of Faktor B. V. ("Faktor"). Faktor is a global consent management platform that allows consumers to control how their data is collected, used, and transferred for usage to another party. Faktor's platform provides individuals with notice and choice on websites and mobile apps and allows them to opt-in or out via a visible banner of the page. The Company paid approximately $4.5 million in cash for the acquired shares. The Company has omitted pro forma disclosures related to this acquisition as the pro forma effect of this acquisition is not material. The results of operations for the acquisition are included in the Company's condensed consolidated results beginning April 2, 2019. The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): April 2, 2019 Assets acquired: Cash $ 35 Trade accounts receivable 63 Goodwill 3,110 Intangible assets (Other assets) 1,700 Other current and noncurrent assets 126 Total assets acquired 5,034 Deferred income taxes (194) Accounts payable and accrued expenses (326) Net assets acquired 4,514 Less: Cash acquired (35) Net cash paid $ 4,479 |
DISCONTINUED OPERATIONS_
DISCONTINUED OPERATIONS: | 3 Months Ended |
Jun. 30, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISCONTINUED OPERATIONS: | DISCONTINUED OPERATIONS: Acxiom Marketing Solutions business ("AMS") During fiscal 2019, the Company completed the sale of its AMS business to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash. The business qualified for treatment as discontinued operations during fiscal 2019. Accordingly, the results of operations, cash flows and the balance sheet amounts pertaining to AMS, for all periods reported, have been classified as discontinued operations in the condensed consolidated financial statements. Results of operations of AMS for the three months ended June 30, 2018 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 June 30, 2018 Revenues $ 164,489 Cost of revenue 93,617 Gross profit 70,872 Operating expenses: Research and development 7,566 Sales and marketing 21,527 General and administrative 16,594 Gains, losses and other items, net 1,284 Total operating expenses 46,971 Income from discontinued operations 23,901 Interest expense (2,838) Other, net 168 Earnings from discontinued operations before income taxes 21,231 Income taxes (benefit) (3,572) Earnings from discontinued operations, net of tax $ 24,803 Substantially all interest expense was allocated to discontinued operations. 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 expenses related to the agreements are included in loss from operations in the condensed consolidated statement of operations. The related cash inflows and outflows and revenues and costs for the three months ended June 30, 2019 was (dollars in thousands): For the three months ended June 30, 2019 Cash inflows $ 13,720 Cash outflows $ 4,847 Revenues $ 12,598 Costs $ 2,346 The revenues amount includes approximately $5.1 million of revenue from AMS's resell of LiveRamp services to its customers. These amounts were also reported in the prior year as revenues in the condensed consolidated statement of operations. |
STOCK-BASED COMPENSATION_
STOCK-BASED COMPENSATION: | 3 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [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 June 30, 2019, there were a total of 11.3 million shares available for future grants under the plans. Stock-based Compensation Expense The Company's stock-based compensation activity for the three months ended June 30, 2019, by award type, was (dollars in millions): For the three months ended June 30, 2019 2018 Stock options $ 0.7 $ 1.0 Performance stock options — 0.3 Restricted stock units 11.1 8.5 Arbor acquisition consideration holdback 2.6 3.8 Pacific Data Partners ("PDP) assumed performance plan 3.9 3.9 Other non-employee stock-based compensation 0.3 0.3 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 18.6 17.8 Less expense related to liability-based equity awards (3.5) (3.5) Stock-based compensation of discontinued operations — 2.5 Total non-cash stock-based compensation included in the condensed consolidated statements of equity $ 15.1 $ 16.8 The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in millions): For the three months ended June 30, 2019 2018 Cost of revenue $ 0.8 $ 0.7 Research and development 4.0 4.4 Sales and marketing 8.9 9.9 General and administrative 4.9 2.8 Total non-cash stock-based compensation included in the condensed consolidated statements of operations $ 18.6 $ 17.8 The following table provides the expected future expense for all of the Company's outstanding equity awards at June 30, 2019, by award type. The amount for 2020 represents the remaining nine months ending March 31, 2020. All other periods represent fiscal years ending March 31 (dollars in millions). During the year ended: 2020 2021 2022 2023 2024 Total Stock options $ 1.4 $ 0.5 $ — $ — $ — $ 1.9 Restricted stock units 41.2 43.6 32.8 18.5 1.8 137.9 PDP assumed performance plan 11.8 15.8 15.7 — — 43.3 $ 54.4 $ 59.9 $ 48.5 $ 18.5 $ 1.8 $ 183.1 Stock Option Activity Stock option activity for the three months ended June 30, 2019 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, 2019 1,374,430 $ 14.81 Exercised (24,381) $ 5.68 $ 1,144 Forfeited or canceled (2,340) $ 2.04 Outstanding at June 30, 2019 1,347,709 $ 15.00 4.2 $ 45,125 Exercisable at June 30, 2019 1,278,265 $ 15.73 4.0 $ 41,859 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 June 30, 2019. 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 June 30, 2019 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 — $ 9.99 192,826 5.1 years $ 1.53 123,382 $ 1.57 $ 10.00 — $ 19.99 709,672 3.3 years $ 14.69 709,672 $ 14.69 $ 20.00 — $ 24.99 445,211 5.2 years $ 21.32 445,211 $ 21.32 1,347,709 4.2 years $ 15.00 1,278,265 $ 15.73 Performance Stock Option Unit Activity Performance stock option unit activity for the three months ended June 30, 2019 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, 2019 130,154 $ 21.44 Forfeited or canceled (130,154) $ 21.44 Outstanding at June 30, 2019 — $ — $ — Exercisable at June 30, 2019 — $ — — $ — The performance stock option units outstanding at March 31, 2019 reached maturity of the relevant performance period at March 31, 2019. The units attained a 0% attainment level, resulting in cancellation of the units in the current fiscal year. Restricted Stock Unit Activity During the three months ended June 30, 2019, the Company granted time-vesting restricted stock units covering 926,461 shares of common stock with a fair value at the date of grant of $51.4 million. Of the restricted stock units granted in the current period, 78,172 vest in equal annual increments over four years, and 848,289 vest 25% at the one-year anniversary and 75% in equal quarterly increments over the subsequent three years. 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 three months ended June 30, 2019 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 3,054,750 $ 30.91 2.47 Granted 926,461 $ 55.48 Vested (144,917) $ 23.66 Forfeited or canceled (142,708) $ 35.36 Outstanding at June 30, 2019 3,693,586 $ 37.18 2.65 The total fair value of time-vesting restricted stock units vested for the three months ended June 30, 2019 was $7.9 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 three months ended June 30, 2019, the Company granted performance-based restricted stock units covering 202,818 shares of common stock having a fair value at the date of grant of $12.3 million. The grants were made under two separate performance plans. Under the first performance plan, units covering 60,844 shares of common stock were granted having a fair value at the date of grant of $4.4 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 60,844 units may vest in a number of shares from 0% to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to total shareholder return of the Russell 2000 market index for the period from April 1, 2019 to March 31, 2022. Under the second performance plan, units covering 141,974 shares of common stock were granted having a fair value at the date of grant of $7.9 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 three equal annual increments in a number of shares from 0% to 200% of the award, based on the attainment of year-over-year revenue growth targets of each annual period from April 1, 2019 to March 31, 2022. Non-vested performance-based restricted stock unit activity for the three months ended June 30, 2019 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 394,188 $ 43.88 3.23 Granted 202,818 $ 60.65 Forfeited or canceled (45,047) $ 34.89 Outstanding at June 30, 2019 551,959 $ 50.77 2.97 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, ending in the quarter ended June 30, 2019. At June 30, 2019, the Company had met its full obligation for the consideration holdback due to the Arbor key employees. Through June 30, 2019, the Company had recognized a total of $38.3 million expense related to the Holdback Agreements. PDP Assumed Performance Plan In connection with the fiscal 2018 acquisition of PDP, the Company assumed the outstanding performance compensation plan under the PDP 2018 Equity Compensation Plan ("PDP PSU plan"). Through June 30, 2019, the Company has recognized a total of $21.7 million related to the PDP PSU plan. At June 30, 2019, the recognized, but unpaid, balance related to the PDP PSU plan in other accrued expenses in the condensed consolidated balance sheet was $19.5 million. |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS: | 3 Months Ended |
Jun. 30, 2019 | |
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): June 30, 2019 March 31, 2019 Prepaid expenses and other $ 8,108 $ 9,058 Post-closing receivable from IPG 17,625 17,625 Interest receivable 1,921 2,497 Assets of non-qualified retirement plan 15,263 14,970 Other current assets $ 42,917 $ 44,150 Other noncurrent assets consist of the following (dollars in thousands): June 30, 2019 March 31, 2019 Acquired intangible assets, net $ 22,054 $ 24,217 Right-of-use assets 20,930 — Other miscellaneous noncurrent assets 8,025 8,282 Other assets, net $ 51,009 $ 32,499 |
OTHER ACCRUED EXPENSES_
OTHER ACCRUED EXPENSES: | 3 Months Ended |
Jun. 30, 2019 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): June 30, 2019 March 31, 2019 Liabilities of non-qualified retirement plan $ 15,263 $ 14,970 Short-term lease liabilities 8,443 — PDP performance plan liability 19,500 — Other miscellaneous accrued expenses 27,723 25,946 Other accrued expenses $ 70,929 $ 40,916 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 3 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT: | PROPERTY AND EQUIPMENT: Property and equipment is summarized as follows (dollars in thousands): June 30, 2019 March 31, 2019 Leasehold improvements $ 22,380 $ 20,097 Data processing equipment 37,798 37,678 Office furniture and other equipment 8,476 7,077 68,654 64,852 Less accumulated depreciation and amortization 44,047 38,809 $ 24,607 $ 26,043 Depreciation expense on property and equipment was $5.3 million and $2.7 million for the three months ended June 30, 2019 and 2018, respectively. Depreciation expense for the three months ended June 30, 2019 included $1.9 million of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution. |
GOODWILL AND INTANGIBLE ASSETS_
GOODWILL AND INTANGIBLE ASSETS: | 3 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND INTANGIBLE ASSETS: | GOODWILL AND INTANGIBLE ASSETS: Goodwill for the three months ended June 30, 2019 (dollars in thousands) was as follows: Total Balance at March 31, 2019 $ 204,656 Acquisition of Faktor 3,110 Change in foreign currency translation adjustment 12 Balance at June 30, 2019 $ 207,778 Goodwill by geography as of June 30, 2019 was: Total U.S. $ 204,586 APAC 3,192 Balance at June 30, 2019 $ 207,778 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): June 30, 2019 March 31, 2019 Developed technology, gross (Software) $ 55,500 $ 54,000 Accumulated amortization (50,385) (49,625) Net developed technology $ 5,115 $ 4,375 Customer relationship/Trade name, gross (Other assets, net) $ 36,000 $ 35,800 Accumulated amortization (27,499) (26,128) Net customer/trade name $ 8,501 $ 9,672 Publisher relationship, gross (Other assets, net) $ 23,800 $ 23,800 Accumulated amortization (10,247) (9,255) Net publisher relationship $ 13,553 $ 14,545 Total intangible assets, gross $ 115,300 $ 113,600 Total accumulated amortization (88,131) (85,008) Total intangible assets, net $ 27,169 $ 28,592 Total amortization expense related to intangible assets for the three months ended June 30, 2019 and 2018 was $3.1 million and $6.1 million, respectively. The following table presents the estimated future amortization expenses related to purchased intangible assets. The amount for 2020 represents the remaining nine months ending March 31, 2020. All other periods represent fiscal years ending March 31 (dollars in thousands): Fiscal Year: 2020 $ 9,369 2021 8,650 2022 5,717 2023 3,433 $ 27,169 |
SOFTWARE_
SOFTWARE: | 3 Months Ended |
Jun. 30, 2019 | |
Research and Development [Abstract] | |
SOFTWARE | SOFTWARE: Software is summarized as follows (dollars in thousands): June 30, 2019 March 31, 2019 Internally developed computer software $ 51,525 $ 51,525 Acquired developed technology 55,500 54,000 107,025 105,525 Less accumulated amortization 99,925 98,664 $ 7,100 $ 6,861 |
ALLOWANCE FOR DOUBTFUL ACCOUNTS
ALLOWANCE FOR DOUBTFUL ACCOUNTS: | 3 Months Ended |
Jun. 30, 2019 | |
SEC Schedule, 12-09, 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 June 30, 2019 and $3.0 million at March 31, 2019. |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | 3 Months Ended |
Jun. 30, 2019 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: The following table summarizes the restructuring activity for the three months ended June 30, 2019 (dollars in thousands): Associate-related Lease Total March 31, 2019 $ 4,595 $ 5,688 $ 10,283 Restructuring charges and adjustments 1,879 (79) 1,800 Payments (471) (156) (627) June 30, 2019 $ 6,003 $ 5,453 $ 11,456 The above balances are included in other accrued expenses and other liabilities on the condensed consolidated balance sheets. Restructuring Plans In the three months ended June 30, 2019, the Company recorded a total of $1.8 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The current year expense included adjustments to fiscal 2019 restructuring plans for associates in the United States of $1.9 million, and lease accruals and adjustments of $(0.1) million. In fiscal 2019, the Company recorded a total of $7.7 million in restructuring charges and adjustments included in gains, losses and other items, net in the consolidated statement of operations. The fiscal year 2019 expense included restructuring plans primarily for associates in the United States and Asia-Pacific of $6.1 million, lease accruals and adjustments of $0.8 million, and leasehold improvement write-offs of $0.8 million. Of the total fiscal 2019 plans associate-related accruals, $5.7 million remained accrued at March 31, 2019. The associate-related costs are expected to be paid out in fiscal 2020. In fiscal 2018, the Company recorded a total of $2.7 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 $2.5 million. The associate-related accruals of $0.2 million were paid out in fiscal 2019. The lease accruals and adjustments of $2.5 million result from the Company's exit from certain leased office facilities. In fiscal 2017, the Company recorded a total of $3 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 resulting 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 $9.3 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 June 30, 2019. These amounts are expected to be paid out in fiscal 2021. With respect to fiscal 2015, 2017, 2018, 2019, and 2020 lease accruals and adjustments described above, the Company intends to continue subleasing 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, $5.5 million remained accrued as of June 30, 2019. 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 June 30, 2019 2018 Restructuring plan charges and adjustments $ 1,800 $ — Other 476 1 $ 2,276 $ 1 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: | 3 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES: | COMMITMENTS AND CONTINGENCIES: Legal Matters |
INCOME TAXES_
INCOME TAXES: | 3 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES: | INCOME TAX:In determining the quarterly provision for income taxes, the Company applies its estimated annual effective income tax rate to its year-to-date pretax income or loss and adjusts for discrete tax items in the period. The estimated annual effective income tax rate for the current fiscal year is primarily driven by the valuation allowance, with a lesser impact attributable to federal research tax credits and the benefit of certain state tax losses, offset by income tax expenses in profitable foreign jurisdictions. Realization of the Company's net deferred tax assets is dependent upon its generation of sufficient taxable income of the proper character in future years in appropriate tax jurisdictions to obtain benefit from the reversal of temporary differences and net operating loss carryforwards. As of June 30, 2019, the Company continues to maintain a full valuation allowance on its deferred tax assets except in certain foreign jurisdictions. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS: | 3 Months Ended |
Jun. 30, 2019 | |
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, 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 June 30, 2019 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 15,263 $ — $ — $ 15,263 Total assets $ 15,263 $ — $ — $ 15,263 |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 3 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | SUBSEQUENT EVENTOn July 2, 2019, the Company closed its merger agreement with Data Plus Math Corporation, a media measurement company that works with brands, agencies, cable operators, streaming TV services and networks to tie cross-screen ad exposure with real-world outcomes, for approximately $117 million in cash. The aggregate value of merger consideration with respect to assumed options and the shares of common stock of the Company, subject to holdback agreements with certain key employees, is expected to equal approximately $33 million and be reported as non-cash stock compensation over the applicable vesting periods. The initial accounting for this acquisition is incomplete due to the timing of the acquisition, including the disclosure of the major classes of assets acquired and liabilities assumed and supplemental pro forma disclosures. |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies) | 3 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements Not Yet Adopted | Recent Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework”, which eliminates, modifies and adds disclosure requirements for fair value measurements. The update is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of this new standard on our condensed consolidated financial statements and does not expect the adoption will have a material impact on our condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract" ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement (“CCA”) that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. CCA’s, such as software as a service and other hosting arrangements, are evaluated for capitalized implementation costs in a similar manner as capitalized software development costs. If a CCA includes a software license, the software license element of the arrangement is accounted for in a manner consistent with the acquisition of other software licenses. If a CCA does not include a software license, the service element of the arrangement is accounted for as a service contract. ASU 2018-15 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years, with early adoption permitted. The Company is currently assessing the impact of this new standard on our condensed consolidated financial statements and does not expect the adoption will have a material impact on our condensed consolidated financial statements. 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 842 ADOPTION IMPACT AND_2
TOPIC 842 ADOPTION IMPACT AND LEASES: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity | Future minimum payments under all operating leases (including operating leases with a duration of less than 12 months) as of June 30, 2019 are as follows (dollars in thousands): Year Amount Remainder of Fiscal 2020 $ 7,023 Fiscal 2021 8,699 Fiscal 2022 8,255 Fiscal 2023 2,497 Fiscal 2024 571 Thereafter — Total undiscounted lease commitments 27,045 Less: Interest 2,561 Total discounted operating lease liabilities $ 24,484 |
Lessee, Operating Lease, Supplemental Information | Supplemental information related to operating leases is as follows (dollars in thousands): Three months ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,134 Weighted average remaining lease term 3.1 years Weighted average discount rate 5.0 % |
Schedule of Future Minimum Rental Payments for Operating Leases | As previously disclosed in our Fiscal 2019 Annual Report on Form 10-K and under the previous lease accounting standard, the future minimum payments under all operating leases as of March 31, 2019 was as follows (dollars in thousands): For the years ending March 31, 2020 2021 2022 2023 2024 Thereafter Total Operating leases 12,057 11,253 10,865 5,160 3,270 4,497 47,102 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
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 three months ended June 30, Primary Geographical Markets 2019 2018 United States $ 76,541 $ 56,222 Europe 4,747 4,920 APAC 1,223 1,329 $ 82,511 $ 62,471 Major Offerings/Services Subscription $ 68,326 $ 51,329 Marketplace and Other 14,185 11,142 $ 82,511 $ 62,471 |
LOSS PER SHARE AND STOCKHOLDE_2
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
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 loss per share is shown below (in thousands, except per share amounts): For the three months ended June 30, 2019 2018 Basic loss per share: Net loss from continuing operations $ (42,140) $ (27,818) Earnings from discontinued operations, net of tax — 24,803 Net loss $ (42,140) $ (3,015) Basic weighted-average shares outstanding 68,906 76,935 Continuing operations $ (0.61) $ (0.36) Discontinued operations — 0.32 Basic loss per share $ (0.61) $ (0.04) Diluted loss per share: Basic weighted-average shares outstanding 68,906 76,935 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — — Diluted weighted-average shares outstanding 68,906 76,935 Continuing operations $ (0.61) $ (0.36) Discontinued operations — 0.32 Diluted loss per share $ (0.61) $ (0.04) |
Schedule of anti-dilutive options, warrants and restricted stock units excluded from computation of earnings (loss) per share | Additional options 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 June 30, 2019 2018 Number of shares outstanding under options, warrants and restricted stock units plans 431 119 Range of exercise prices for options N/A $ 32.85 |
ACQUISITIONS_ (Tables)
ACQUISITIONS: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): April 2, 2019 Assets acquired: Cash $ 35 Trade accounts receivable 63 Goodwill 3,110 Intangible assets (Other assets) 1,700 Other current and noncurrent assets 126 Total assets acquired 5,034 Deferred income taxes (194) Accounts payable and accrued expenses (326) Net assets acquired 4,514 Less: Cash acquired (35) Net cash paid $ 4,479 |
DISCONTINUED OPERATIONS_ (Table
DISCONTINUED OPERATIONS: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2018 Revenues $ 164,489 Cost of revenue 93,617 Gross profit 70,872 Operating expenses: Research and development 7,566 Sales and marketing 21,527 General and administrative 16,594 Gains, losses and other items, net 1,284 Total operating expenses 46,971 Income from discontinued operations 23,901 Interest expense (2,838) Other, net 168 Earnings from discontinued operations before income taxes 21,231 Income taxes (benefit) (3,572) Earnings from discontinued operations, net of tax $ 24,803 |
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 June 30, 2019 was (dollars in thousands): For the three months ended June 30, 2019 Cash inflows $ 13,720 Cash outflows $ 4,847 Revenues $ 12,598 Costs $ 2,346 |
STOCK-BASED COMPENSATION_ (Tabl
STOCK-BASED COMPENSATION: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of stock-based compensation activity, by award type | The Company's stock-based compensation activity for the three months ended June 30, 2019, by award type, was (dollars in millions): For the three months ended June 30, 2019 2018 Stock options $ 0.7 $ 1.0 Performance stock options — 0.3 Restricted stock units 11.1 8.5 Arbor acquisition consideration holdback 2.6 3.8 Pacific Data Partners ("PDP) assumed performance plan 3.9 3.9 Other non-employee stock-based compensation 0.3 0.3 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 18.6 17.8 Less expense related to liability-based equity awards (3.5) (3.5) Stock-based compensation of discontinued operations — 2.5 Total non-cash stock-based compensation included in the condensed consolidated statements of equity $ 15.1 $ 16.8 |
Schedule of effect of stock-based compensation expense on income, by financial statement line item | The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in millions): For the three months ended June 30, 2019 2018 Cost of revenue $ 0.8 $ 0.7 Research and development 4.0 4.4 Sales and marketing 8.9 9.9 General and administrative 4.9 2.8 Total non-cash stock-based compensation included in the condensed consolidated statements of operations $ 18.6 $ 17.8 |
Schedule of share based compensation arrangement by share based payment award, future expense | The following table provides the expected future expense for all of the Company's outstanding equity awards at June 30, 2019, by award type. The amount for 2020 represents the remaining nine months ending March 31, 2020. All other periods represent fiscal years ending March 31 (dollars in millions). During the year ended: 2020 2021 2022 2023 2024 Total Stock options $ 1.4 $ 0.5 $ — $ — $ — $ 1.9 Restricted stock units 41.2 43.6 32.8 18.5 1.8 137.9 PDP assumed performance plan 11.8 15.8 15.7 — — 43.3 $ 54.4 $ 59.9 $ 48.5 $ 18.5 $ 1.8 $ 183.1 |
Schedule of option activity | Stock option activity for the three months ended June 30, 2019 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, 2019 1,374,430 $ 14.81 Exercised (24,381) $ 5.68 $ 1,144 Forfeited or canceled (2,340) $ 2.04 Outstanding at June 30, 2019 1,347,709 $ 15.00 4.2 $ 45,125 Exercisable at June 30, 2019 1,278,265 $ 15.73 4.0 $ 41,859 |
Summary of stock options outstanding and exercisable | A summary of stock options outstanding and exercisable as of June 30, 2019 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 — $ 9.99 192,826 5.1 years $ 1.53 123,382 $ 1.57 $ 10.00 — $ 19.99 709,672 3.3 years $ 14.69 709,672 $ 14.69 $ 20.00 — $ 24.99 445,211 5.2 years $ 21.32 445,211 $ 21.32 1,347,709 4.2 years $ 15.00 1,278,265 $ 15.73 |
Schedule of performance stock option unit activity | Performance stock option unit activity for the three months ended June 30, 2019 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, 2019 130,154 $ 21.44 Forfeited or canceled (130,154) $ 21.44 Outstanding at June 30, 2019 — $ — $ — Exercisable at June 30, 2019 — $ — — $ — |
Schedule of time-vesting restricted stock unit activity | Time-vesting restricted stock unit activity for the three months ended June 30, 2019 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 3,054,750 $ 30.91 2.47 Granted 926,461 $ 55.48 Vested (144,917) $ 23.66 Forfeited or canceled (142,708) $ 35.36 Outstanding at June 30, 2019 3,693,586 $ 37.18 2.65 |
Schedule of non-vested performance-based restricted stock units activity | Non-vested performance-based restricted stock unit activity for the three months ended June 30, 2019 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 394,188 $ 43.88 3.23 Granted 202,818 $ 60.65 Forfeited or canceled (45,047) $ 34.89 Outstanding at June 30, 2019 551,959 $ 50.77 2.97 |
OTHER CURRENT AND NONCURRENT _2
OTHER CURRENT AND NONCURRENT ASSETS: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
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): June 30, 2019 March 31, 2019 Prepaid expenses and other $ 8,108 $ 9,058 Post-closing receivable from IPG 17,625 17,625 Interest receivable 1,921 2,497 Assets of non-qualified retirement plan 15,263 14,970 Other current assets $ 42,917 $ 44,150 |
Schedule of components of other noncurrent assets | Other noncurrent assets consist of the following (dollars in thousands): June 30, 2019 March 31, 2019 Acquired intangible assets, net $ 22,054 $ 24,217 Right-of-use assets 20,930 — Other miscellaneous noncurrent assets 8,025 8,282 Other assets, net $ 51,009 $ 32,499 |
OTHER ACCRUED EXPENSES_ (Tables
OTHER ACCRUED EXPENSES: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Other Accrued Expenses [Abstract]. | |
Schedule of other accrued expenses | Other accrued expenses consist of the following (dollars in thousands): June 30, 2019 March 31, 2019 Liabilities of non-qualified retirement plan $ 15,263 $ 14,970 Short-term lease liabilities 8,443 — PDP performance plan liability 19,500 — Other miscellaneous accrued expenses 27,723 25,946 Other accrued expenses $ 70,929 $ 40,916 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment is summarized as follows (dollars in thousands): June 30, 2019 March 31, 2019 Leasehold improvements $ 22,380 $ 20,097 Data processing equipment 37,798 37,678 Office furniture and other equipment 8,476 7,077 68,654 64,852 Less accumulated depreciation and amortization 44,047 38,809 $ 24,607 $ 26,043 |
GOODWILL AND INTANGIBLE ASSET_2
GOODWILL AND INTANGIBLE ASSETS: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill by operating segment and activity and by component included in each segment | Goodwill for the three months ended June 30, 2019 (dollars in thousands) was as follows: Total Balance at March 31, 2019 $ 204,656 Acquisition of Faktor 3,110 Change in foreign currency translation adjustment 12 Balance at June 30, 2019 $ 207,778 Goodwill by geography as of June 30, 2019 was: Total U.S. $ 204,586 APAC 3,192 Balance at June 30, 2019 $ 207,778 |
Schedule of amortization activity of intangible assets | The following table shows the amortization activity of intangible assets (dollars in thousands): June 30, 2019 March 31, 2019 Developed technology, gross (Software) $ 55,500 $ 54,000 Accumulated amortization (50,385) (49,625) Net developed technology $ 5,115 $ 4,375 Customer relationship/Trade name, gross (Other assets, net) $ 36,000 $ 35,800 Accumulated amortization (27,499) (26,128) Net customer/trade name $ 8,501 $ 9,672 Publisher relationship, gross (Other assets, net) $ 23,800 $ 23,800 Accumulated amortization (10,247) (9,255) Net publisher relationship $ 13,553 $ 14,545 Total intangible assets, gross $ 115,300 $ 113,600 Total accumulated amortization (88,131) (85,008) Total intangible assets, net $ 27,169 $ 28,592 |
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: 2020 $ 9,369 2021 8,650 2022 5,717 2023 3,433 $ 27,169 |
SOFTWARE_ (Tables)
SOFTWARE: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Research and Development [Abstract] | |
Schedule of Software | Software is summarized as follows (dollars in thousands): June 30, 2019 March 31, 2019 Internally developed computer software $ 51,525 $ 51,525 Acquired developed technology 55,500 54,000 107,025 105,525 Less accumulated amortization 99,925 98,664 $ 7,100 $ 6,861 |
RESTRUCTURING, IMPAIRMENT AND_2
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Restructuring and Related Activities [Abstract] | |
Summary of restructuring activity | The following table summarizes the restructuring activity for the three months ended June 30, 2019 (dollars in thousands): Associate-related Lease Total March 31, 2019 $ 4,595 $ 5,688 $ 10,283 Restructuring charges and adjustments 1,879 (79) 1,800 Payments (471) (156) (627) June 30, 2019 $ 6,003 $ 5,453 $ 11,456 |
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 June 30, 2019 2018 Restructuring plan charges and adjustments $ 1,800 $ — Other 476 1 $ 2,276 $ 1 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 15,263 $ — $ — $ 15,263 Total assets $ 15,263 $ — $ — $ 15,263 |
TOPIC 842 ADOPTION IMPACT AND_3
TOPIC 842 ADOPTION IMPACT AND LEASES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Jun. 30, 2019 | Apr. 01, 2019 | Mar. 31, 2019 | Mar. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating lease, right-of-use asset | $ 20,930 | $ 0 | ||
Short-term leases liabilities | 8,443 | $ 0 | ||
Long-term lease liabilities | 16,000 | |||
Operating lease costs | 2,200 | |||
2020 | 7,023 | |||
2021 | 8,699 | |||
2022 | 8,255 | |||
2023 | 2,497 | |||
2024 | 571 | |||
Thereafter | 0 | |||
Leased office facilities | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
2020 | 1,886 | |||
2021 | 2,544 | |||
2022 | 2,610 | |||
2023 | 2,663 | |||
2024 | 2,699 | |||
Thereafter | $ 4,497 | |||
Accounting Standards Update 2016-02 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating lease, right-of-use asset | $ 22,900 | |||
Short-term leases liabilities | 8,400 | |||
Long-term lease liabilities | 17,900 | |||
Deferred rent | $ 3,400 |
TOPIC 842 ADOPTION IMPACT AND_4
TOPIC 842 ADOPTION IMPACT AND LEASES: Operating Lease, Liability Maturity (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 7,023 |
2021 | 8,699 |
2022 | 8,255 |
2023 | 2,497 |
2024 | 571 |
Thereafter | 0 |
Total undiscounted lease commitments | 27,045 |
Less: Interest | 2,561 |
Total discounted operating lease liabilities | $ 24,484 |
TOPIC 842 ADOPTION IMPACT AND_5
TOPIC 842 ADOPTION IMPACT AND LEASES: Supplemental information related to operating leases (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 2,134 |
Weighted average remaining lease term | 3 years 1 month 6 days |
Weighted average discount rate | 5.00% |
TOPIC 842 ADOPTION IMPACT AND_6
TOPIC 842 ADOPTION IMPACT AND LEASES: Future minimum lease payments under all noncancellable operating leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Leases [Abstract] | ||
2020 | $ 12,057 | |
2021 | $ 11,253 | |
2022 | 10,865 | |
2023 | 5,160 | |
2024 | 3,270 | |
Thereafter | 4,497 | |
Total | $ 47,102 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 82,511 | $ 62,471 |
Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 68,326 | 51,329 |
Marketplace and Other | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 14,185 | 11,142 |
United States | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 76,541 | 56,222 |
Europe | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 4,747 | 4,920 |
APAC | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 1,223 | $ 1,329 |
REVENUE FROM CONTRACTS WITH C_4
REVENUE FROM CONTRACTS WITH CUSTOMERS: Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions | Jun. 30, 2019USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 319.4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 4 years 9 months |
LOSS PER SHARE AND STOCKHOLDE_3
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 | |
Jun. 30, 2019 | Jun. 30, 2018 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||
Net earnings (loss) from continuing operations | $ (42,140) | $ (27,818) |
Earnings from discontinued operations, net of tax | 0 | 24,803 |
Net loss | $ (42,140) | $ (3,015) |
Basic earnings (loss) per share: | ||
Basic weighted-average shares outstanding (in shares) | 68,906 | 76,935 |
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (0.61) | $ (0.36) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.32 |
Basic earnings (loss) per share (in dollars per share) | $ (0.61) | $ (0.04) |
Diluted earnings (loss) per share: | ||
Basic weighted-average shares outstanding (in shares) | 68,906 | 76,935 |
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method (in shares) | 0 | 0 |
Diluted weighted-average shares outstanding | 68,906 | 76,935 |
Diluted earnings (loss) per share from continuing operations (in dollars per share) | $ (0.61) | $ (0.36) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.32 |
Diluted earnings (loss), net per share (in USD per share) | $ (0.61) | $ (0.04) |
LOSS PER SHARE AND STOCKHOLDE_4
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Narrative (Details) - USD ($) shares in Thousands | 3 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Oct. 25, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 431 | 119 | ||
Repurchase of stock (in shares) | 400 | |||
Acquisition of treasury stock | $ 20,099,000 | $ 45,766,000 | ||
Treasury stock, at cost | 1,799,766,000 | $ 1,767,574,000 | ||
Accumulated other comprehensive income | $ 7,334,000 | $ 7,801,000 | ||
Common Stock Repurchase Program | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Stock repurchase program, authorized amount | $ 1,000,000,000 | |||
Repurchase of stock (in shares) | 23,000 | |||
Treasury stock, at cost | $ 469,200,000 | |||
Stock repurchase program, remaining amount | $ 530,800,000 | |||
Stock Options And Warrants And Restricted Stock Units | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 2,800 | 2,300 |
LOSS PER SHARE AND STOCKHOLDE_5
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Anti-dilutive shares (Details) - $ / shares shares in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 431 | 119 |
Range of exercise prices for options (in dollars per share) | $ 32.85 |
ACQUISITIONS_ Narrative (Detail
ACQUISITIONS: Narrative (Details) $ in Millions | Apr. 01, 2019USD ($) |
Faktor B. V. [Member] | |
Business Acquisition [Line Items] | |
Payments to acquire businesses, gross | $ 4.5 |
ACQUISITIONS_ Purchase price al
ACQUISITIONS: Purchase price allocation related to assets acquired and liabilities assumed (Details) € in Thousands, $ in Thousands | Apr. 01, 2019EUR (€) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2019USD ($) |
Business Acquisition [Line Items] | ||||
Goodwill | $ | $ 207,778 | $ 204,656 | ||
Net cash paid | $ | $ 4,479 | $ 0 | ||
Faktor B. V. [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash | € 35 | |||
Trade accounts receivable | 63 | |||
Goodwill | 3,110 | |||
Intangible assets (Other assets) | 1,700 | |||
Other current and noncurrent assets | 126 | |||
Total assets acquired | 5,034 | |||
Deferred income taxes | (194) | |||
Accounts payable and accrued expenses | (326) | |||
Net assets acquired | 4,514 | |||
Cash acquired | (35) | |||
Net cash paid | € 4,479 |
DISCONTINUED OPERATIONS_ Narrat
DISCONTINUED OPERATIONS: Narrative (Details) $ in Millions | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Incremental increase to previous periods | $ 5.1 |
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 |
DISCONTINUED OPERATIONS_ Reconc
DISCONTINUED OPERATIONS: Reconciliation of the major classes of line items constituting earnings from discontinued operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Earnings from discontinued operations, net of tax | $ 0 | $ 24,803 |
Acxiom Marketing Solutions | Discontinued Operations | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Revenues | 164,489 | |
Costs of revenues | 93,617 | |
Gross profit | 70,872 | |
Research and development | 7,566 | |
Sales and marketing | 21,527 | |
General and administrative | 16,594 | |
Gains, losses and other items, net | 1,284 | |
Total operating expense | 46,971 | |
Income from discontinued operations | 23,901 | |
Interest expense | (2,838) | |
Other, net | 168 | |
Earnings from discontinued operations before income taxes | 21,231 | |
Income taxes | (3,572) | |
Earnings from discontinued operations, net of tax | $ 24,803 |
DISCONTINUED OPERATIONS_ The re
DISCONTINUED OPERATIONS: The related cash inflows and outflows and revenues and expenses (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Discontinued Operations and Disposal Groups [Abstract] | |
Cash inflows | $ 13,720 |
Cash outflows | 4,847 |
Revenues | 12,598 |
Costs | $ 2,346 |
STOCK-BASED COMPENSATION_ (Deta
STOCK-BASED COMPENSATION: (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Mar. 31, 2019 | |
Stock Option Activity - Number of Shares | ||
Outstanding at beginning of the period (in shares) | 1,374,430 | |
Exercised (in shares) | (24,381) | |
Forfeited or cancelled (in shares) | (2,340) | |
Outstanding at end of the period (in shares) | 1,347,709 | |
Exercisable at the end of the period (in shares) | 1,278,265 | |
Weighted-average exercise price per share | ||
Outstanding at the beginning of the period (in dollars per share) | $ 14.81 | |
Exercised (in dollars per share) | 5.68 | |
Forfeited or cancelled (in dollars per share) | 2.04 | |
Outstanding at the end of the period (in dollars per share) | 15 | |
Exercisable at the end of the period (in dollars per share) | $ 15.73 | |
Weighted-average remaining contractual term | ||
Weighted average remaining contractual term | 4 years 2 months 12 days | |
Exercisable at the end of the period | 4 years | |
Aggregate intrinsic value | ||
Exercised | $ 1,144 | |
Outstanding at the end of the period | 45,125 | |
Exercisable at the end of the period | $ 41,859 | |
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 | |
Shares which remained available for future grants (in shares) | 11,300,000 |
STOCK-BASED COMPENSATION_ Stock
STOCK-BASED COMPENSATION: Stock-based compensation activity, by award type (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based compensation | ||
Other non-employee stock-based compensation | $ 300 | $ 300 |
Total non-cash stock-based compensation | 18,600 | 17,800 |
Stock-based compensation of discontinued operations | 0 | 2,500 |
Total non-cash stock-based compensation included in the condensed consolidated statement of equity | 15,064 | 16,811 |
Cost of revenue | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 800 | 700 |
Research and development | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 4,000 | 4,400 |
Sales and marketing | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 8,900 | 9,900 |
General and administrative | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 4,900 | 2,800 |
Stock options | ||
Share-based compensation | ||
Share-based compensation expense | 700 | 1,000 |
Performance stock | ||
Share-based compensation | ||
Share-based compensation expense | 0 | 300 |
Restricted stock units | ||
Share-based compensation | ||
Share-based compensation expense | 11,100 | 8,500 |
Arbor Holdback Agreement | Arbor | ||
Share-based compensation | ||
Share-based compensation expense | 2,600 | 3,800 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | ||
Share-based compensation | ||
Share-based compensation expense | 3,900 | 3,900 |
Liability-based equity awards | ||
Share-based compensation | ||
Total non-cash stock-based compensation | $ (3,500) | $ (3,500) |
STOCKHOLDERS' EQUITY_ Future ex
STOCKHOLDERS' EQUITY: Future expense, by award type (Details) $ in Millions | Jun. 30, 2019USD ($) |
Share-based compensation | |
Future expense for performance stock option units | $ 183.1 |
2020 | |
Share-based compensation | |
Future expense for performance stock option units | 54.4 |
2021 | |
Share-based compensation | |
Future expense for performance stock option units | 59.9 |
2022 | |
Share-based compensation | |
Future expense for performance stock option units | 48.5 |
2023 | |
Share-based compensation | |
Future expense for performance stock option units | 18.5 |
2024 | |
Share-based compensation | |
Future expense for performance stock option units | 1.8 |
Stock options | |
Share-based compensation | |
Share-based compensation not yet recognized | 1.9 |
Stock options | 2020 | |
Share-based compensation | |
Share-based compensation not yet recognized | 1.4 |
Stock options | 2021 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0.5 |
Stock options | 2022 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Stock options | 2023 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Stock options | 2024 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Restricted stock units | |
Share-based compensation | |
Future share-based compensation expense expected | 137.9 |
Restricted stock units | 2020 | |
Share-based compensation | |
Future share-based compensation expense expected | 41.2 |
Restricted stock units | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 43.6 |
Restricted stock units | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 32.8 |
Restricted stock units | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 18.5 |
Restricted stock units | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 1.8 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | |
Share-based compensation | |
Future share-based compensation expense expected | 43.3 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2020 | |
Share-based compensation | |
Future share-based compensation expense expected | 11.8 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 15.8 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 15.7 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | $ 0 |
STOCK-BASED COMPENSATION_ Perfo
STOCK-BASED COMPENSATION: Performance Stock Option Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercised (in dollars per share) | $ 5.68 | |
Future expense for performance stock option units | $ 183,100 | |
Number of shares | ||
Outstanding at beginning of the period (in shares) | 1,374,430 | |
Forfeited or cancelled (in shares) | (2,340) | |
Outstanding at end of the period (in shares) | 1,347,709 | |
Exercisable at the end of the period (in shares) | 1,278,265 | |
Weighted-average exercise price per share | ||
Outstanding at the beginning of the period (in dollars per share) | $ 14.81 | |
Forfeited or cancelled (in dollars per share) | 2.04 | |
Outstanding at the end of the period (in dollars per share) | 15 | |
Exercisable at the end of the period (in dollars per share) | $ 15.73 | |
Weighted-average remaining contractual term | ||
Weighted average remaining contractual term | 4 years 2 months 12 days | |
Exercisable at the end of the period | 4 years | |
Aggregate intrinsic value | ||
Outstanding at the end of the period | $ 45,125 | |
Exercisable at the end of the period | 41,859 | |
Restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | 11,100 | $ 8,500 |
Performance stock | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | $ 0 | $ 300 |
Number of shares | ||
Outstanding at beginning of the period (in shares) | 130,154 | |
Forfeited or cancelled (in shares) | (130,154) | |
Outstanding at end of the period (in shares) | 0 | |
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) | $ 21.44 | |
Forfeited or cancelled (in dollars per share) | 21.44 | |
Outstanding at the end of the period (in dollars per share) | 0 | |
Exercisable at the end of the period (in dollars per share) | $ 0 | |
Weighted-average remaining contractual term | ||
Weighted average remaining contractual term | ||
Aggregate intrinsic value | ||
Outstanding at the end of the period | $ 0 | |
Exercisable at the end of the period | $ 0 |
STOCK-BASED COMPENSATION_ Sto_2
STOCK-BASED COMPENSATION: Stock options outstanding and exercisable (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Stock options outstanding and exercisable by exercise price range | ||
Options outstanding (in shares) | 1,347,709 | |
Options outstanding - Weighted-average remaining contractual life | 4 years 2 months 12 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 15 | |
Options exercisable (in shares) | 1,278,265 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 15.73 | |
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) | 192,826 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 1 month 6 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 1.53 | |
Options exercisable (in shares) | 123,382 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.57 | |
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) | 709,672 | |
Options outstanding - Weighted-average remaining contractual life | 3 years 3 months 18 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.69 | |
Options exercisable (in shares) | 709,672 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 14.69 | |
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) | 445,211 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 2 months 12 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.32 | |
Options exercisable (in shares) | 445,211 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.32 | |
Stock options | ||
Stock options outstanding and exercisable by exercise price range | ||
Share-based compensation expense | $ 0.7 | $ 1 |
Share-based compensation not yet recognized | $ 1.9 |
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 | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | |
Restricted Stock Unit Activity - Other disclosures | |||
Share-based compensation expense | $ 11.1 | $ 8.5 | |
Future share-based compensation expense expected | $ 137.9 | ||
Performance stock | |||
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 394,188 | ||
Granted (in shares) | 202,818 | ||
Forfeited or cancelled (in shares) | (45,047) | ||
Outstanding at the end of the period (in shares) | 551,959 | 394,188 | |
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) | $ 43.88 | ||
Granted (in dollars per share) | 60.65 | ||
Forfeited or cancelled (in dollars per share) | 34.89 | ||
Outstanding at the end of the period (in dollars per share) | $ 50.77 | $ 43.88 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 2 years 11 months 19 days | 3 years 2 months 23 days | |
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 12.3 | ||
Time Based Vesting | |||
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 3,054,750 | ||
Granted (in shares) | 926,461 | ||
Vested (in shares) | (144,917) | ||
Forfeited or cancelled (in shares) | (142,708) | ||
Outstanding at the end of the period (in shares) | 3,693,586 | 3,054,750 | |
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) | $ 30.91 | ||
Granted (in dollars per share) | 55.48 | ||
Vested (in dollars per share) | 23.66 | ||
Forfeited or cancelled (in dollars per share) | 35.36 | ||
Outstanding at the end of the period (in dollars per share) | $ 37.18 | $ 30.91 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 2 years 7 months 24 days | 2 years 5 months 19 days | |
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 51.4 | ||
Total fair value | $ 7.9 | ||
Performance Shares Vesting Total Shareholder Return | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 60,844 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 4.4 | ||
Performance Shares Vesting Under The Second Plan | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 141,974 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Aggregate fair value of restricted stock units granted | $ 7.9 | ||
Vesting in four years | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 78,172 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting period | 4 years | ||
Partial cliff vest tranche one | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 848,289 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 25.00% | ||
Vesting in three years | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 75.00% | ||
Vesting period | 3 years | ||
Minimum | Performance Shares Vesting Total Shareholder Return | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 0.00% | ||
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_ Other
STOCK-BASED COMPENSATION: Other (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based compensation | ||||
Non-cash stock-based compensation | $ 15,064 | $ 16,811 | ||
Payments related to tax withholding for share-based compensation | 12,093 | 10,044 | ||
Share-based Activity - Other disclosures | ||||
Non-cash stock compensation expense | 18,630 | 17,798 | ||
Other accrued expenses | 70,929 | $ 40,916 | $ 40,916 | |
Holdback expenses | 38,300 | |||
Arbor | ||||
Share-based Activity - Other disclosures | ||||
Holdback consideration transferred | 38,300 | |||
Arbor | Arbor Holdback Agreement | ||||
Share-based Activity - Other disclosures | ||||
Share-based compensation expense | 2,600 | $ 3,800 | ||
Pacific Data Partners LLC | ||||
Share-based compensation | ||||
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized | 21,700 | |||
Share-based Activity - Other disclosures | ||||
Other accrued expenses | $ 19,500 |
OTHER CURRENT AND NONCURRENT _3
OTHER CURRENT AND NONCURRENT ASSETS: (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Other current assets | ||
Prepaid expenses and other | $ 8,108 | $ 9,058 |
Other Receivables | 17,625 | 17,625 |
Interest Receivable | 1,921 | 2,497 |
Assets of non-qualified retirement plan | 15,263 | 14,970 |
Other current assets | 42,917 | 44,150 |
Other noncurrent assets | ||
Acquired intangible assets, net | 22,054 | 24,217 |
Operating lease, right-of-use asset | 20,930 | 0 |
Other miscellaneous noncurrent assets | 8,025 | 8,282 |
Other assets, net | $ 51,009 | $ 32,499 |
OTHER ACCRUED EXPENSES_ (Detail
OTHER ACCRUED EXPENSES: (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Other Accrued Expenses [Abstract]. | |||
Liabilities of non-qualified retirement plan | $ 15,263 | $ 14,970 | |
Short-term leases liabilities | 8,443 | 0 | |
PDP performance plan liability | 19,500 | 0 | |
Other miscellaneous accrued expenses | 27,723 | 25,946 | |
Other accrued expenses | $ 70,929 | $ 40,916 | $ 40,916 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 5,300 | $ 2,700 | |
Accelerated depreciation | 1,900 | ||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 68,654 | $ 64,852 | |
Less accumulated depreciation and amortization | 44,047 | 38,809 | |
Property and equipment, net of accumulated depreciation and amortization | 24,607 | 26,043 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 22,380 | 20,097 | |
Data processing equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 37,798 | 37,678 | |
Office furniture and other equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 8,476 | $ 7,077 |
GOODWILL AND INTANGIBLE ASSET_3
GOODWILL AND INTANGIBLE ASSETS: (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Goodwill | |
Goodwill at the beginning of year | $ 204,656 |
Reallocation of segments | 3,110 |
Change in foreign currency translation adjustment | 12 |
Goodwill at the end of year | 207,778 |
U.S. | |
Goodwill | |
Goodwill at the end of year | 204,586 |
APAC | |
Goodwill | |
Goodwill at the end of year | $ 3,192 |
GOODWILL AND INTANGIBLE ASSET_4
GOODWILL AND INTANGIBLE ASSETS: - Amounts allocated to intangible assets from acquisitions (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Mar. 31, 2019 | |
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | $ 115,300 | $ 113,600 |
Accumulated amortization | (88,131) | (85,008) |
Total finite-lived intangible assets, net | 27,169 | 28,592 |
Developed technology, gross (Software) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 55,500 | 54,000 |
Accumulated amortization | (50,385) | (49,625) |
Total finite-lived intangible assets, net | 5,115 | 4,375 |
Trade name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 36,000 | 35,800 |
Accumulated amortization | (27,499) | (26,128) |
Total finite-lived intangible assets, net | 8,501 | 9,672 |
Publisher Relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 23,800 | 23,800 |
Accumulated amortization | (10,247) | (9,255) |
Total finite-lived intangible assets, net | $ 13,553 | $ 14,545 |
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 | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 3,100 | $ 6,100 | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2020 | 9,369 | ||
2021 | 8,650 | ||
2022 | 5,717 | ||
2023 | 3,433 | ||
Total finite-lived intangible assets, net | $ 27,169 | $ 28,592 |
Schedule of Software (Details)
Schedule of Software (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | $ 115,300 | $ 113,600 |
Less accumulated amortization | 88,131 | 85,008 |
Total finite-lived intangible assets, net | 27,169 | 28,592 |
Developed technology, gross (Software) | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 51,525 | 51,525 |
Acquired developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 55,500 | 54,000 |
Software Development | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 107,025 | 105,525 |
Less accumulated amortization | 99,925 | 98,664 |
Total finite-lived intangible assets, net | $ 7,100 | $ 6,861 |
SOFTWARE_ (Details)
SOFTWARE: (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization expense | $ 3.1 | $ 6.1 |
Developed technology, gross (Software) | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization expense | 1.2 | 4.1 |
Developed technology, gross (Software) | Arbor And Circulate Business Acquisition [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization expense | $ 0.8 | $ 3.6 |
ALLOWANCE FOR DOUBTFUL ACCOUN_2
ALLOWANCE FOR DOUBTFUL ACCOUNTS: (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Mar. 31, 2019 |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | ||
Allowances for doubtful accounts, returns and credits | $ 3.4 | $ 3 |
RESTRUCTURING, IMPAIRMENT AND_3
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Summary of restructuring activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Restructuring Reserve [Roll Forward] | ||
Restructuring charges and adjustments | $ 1,800 | $ 0 |
Restructuring Reserve, at the end of the period | 5,500 | |
Continuing operations | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 10,283 | |
Restructuring charges and adjustments | 1,800 | |
Payments | (627) | |
Restructuring Reserve, at the end of the period | 11,456 | |
Continuing operations | Associate-related reserves | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 4,595 | |
Restructuring charges and adjustments | 1,879 | |
Payments | (471) | |
Restructuring Reserve, at the end of the period | 6,003 | |
Continuing operations | Lease accruals | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 5,688 | |
Restructuring charges and adjustments | (79) | |
Payments | (156) | |
Restructuring Reserve, at the end of the period | $ 5,453 |
RESTRUCTURING, IMPAIRMENT AND_4
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 1,800 | $ 0 | ||||
Restructuring reserve | 5,500 | |||||
Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 1,800 | $ 7,700 | $ 2,700 | $ 3,000 | ||
Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 9,300 | |||||
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 | 1,900 | 6,100 | ||||
Restructuring reserve | 5,700 | |||||
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 | (100) | 800 | $ 2,500 | 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 | |||||
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 reserve | $ 300 |
RESTRUCTURING, IMPAIRMENT AND_5
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Gains, losses and other items (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Restructuring and Related Activities [Abstract] | ||
Restructuring plan charges and adjustments | $ 1,800 | $ 0 |
Other | 476 | 1 |
Gains, losses and other items, net | $ 2,276 | $ 1 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Fair value of assets and liabilities | ||
Other current assets | $ 42,917 | $ 44,150 |
Fair value measurements on recurring basis | Total | ||
Fair value of assets and liabilities | ||
Other current assets | 15,263 | |
Total assets | 15,263 | |
Fair value measurements on recurring basis | Total | Level 1 | ||
Fair value of assets and liabilities | ||
Other current assets | 15,263 | |
Total assets | 15,263 | |
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 |
SUBSEQUENT EVENT_ Narrative (De
SUBSEQUENT EVENT: Narrative (Details) - Data Plus Math Corporation [Member] - Subsequent Event $ in Millions | Jul. 02, 2019USD ($) |
Subsequent Event [Line Items] | |
Payments to acquire businesses, gross | $ 117 |
Noncash or part noncash acquisition, expected non-cash share-based compensation | $ 33 |