Document_and_Entity_Informatio
Document and Entity Information Document | 6 Months Ended | |
Jun. 28, 2014 | Jul. 18, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'CERNER CORP /MO/ | ' |
Entity Central Index Key | '0000804753 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 28-Jun-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Current Fiscal Year End Date | '--01-03 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 341,053,734 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Assets, Current [Abstract] | ' | ' |
Cash and cash equivalents | $315,260 | $202,377 |
Short-Term Investments | 673,532 | 677,004 |
Receivables, Net | 614,930 | 582,926 |
Inventory | 31,710 | 32,299 |
Prepaid Expense and Other | 175,074 | 175,488 |
Deferred Income Taxes, Net | 92,763 | 91,614 |
Total Current Assets | 1,903,269 | 1,761,708 |
Property and Equipment, Net | 863,684 | 792,781 |
Software Development Costs, Net | 384,813 | 347,077 |
Goodwill | 324,108 | 307,422 |
Intangible Assets, Net | 137,069 | 144,132 |
Long-Term Investments | 478,963 | 554,873 |
Other Assets | 173,369 | 190,371 |
Total Assets | 4,265,275 | 4,098,364 |
Liabilities, Current [Abstract] | ' | ' |
Accounts Payable | 148,854 | 145,019 |
Current Installments of Long-term Debt and Capital Lease Obligations | 59,287 | 54,107 |
Deferred Revenue | 228,166 | 209,746 |
Accrued Payroll and Tax Withholdings | 141,160 | 147,986 |
Other Accrued Expenses | 95,055 | 83,574 |
Total Current Liabilities | 672,522 | 640,432 |
Long-term Debt and Capital Lease Obligations | 96,084 | 111,717 |
Deferred Income Taxes and Other Liabilities | 229,083 | 170,392 |
Deferred Revenue | 7,817 | 8,159 |
Total Liabilities | 1,005,506 | 930,700 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ' | ' |
Common stock, $.01 par value, 500,000,000 shares authorized, 345,664,766 shares issued at June 28, 2014 and 344,338,030 shares issued at December 28, 2013 | 3,457 | 3,443 |
Additional Paid in Capital | 865,386 | 812,853 |
Retained Earnings | 2,641,607 | 2,393,048 |
Treasury stock, 4,652,515 shares at June 28, 2014 and 570,616 shares at December 28, 2013 | -245,333 | -28,251 |
Accumulated Other Comprehensive Loss, Net | -5,348 | -13,429 |
Total Shareholders' Equity | 3,259,769 | 3,167,664 |
Total Liabilities and Shareholders' Equity | $4,265,275 | $4,098,364 |
Consolidated_Balance_Sheets_St
Consolidated Balance Sheets Statement of Financial Position (Parenthetical) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
Common Stock, Par Value | $0.01 | $0.01 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 345,664,766 | 344,338,030 |
Treasury Stock, Shares | 4,652,515 | 570,616 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Revenues [Abstract] | ' | ' | ' | ' |
System Sales | $234,563 | $200,503 | $441,250 | $399,405 |
Support, Maintenance and Services | 588,167 | 486,647 | 1,145,596 | 953,203 |
Reimbursed Travel | 29,032 | 20,411 | 49,677 | 34,982 |
Total Revenues | 851,762 | 707,561 | 1,636,523 | 1,387,590 |
Costs and Expenses [Abstract] | ' | ' | ' | ' |
Cost of System Sales | 81,306 | 71,708 | 146,419 | 153,191 |
Cost of Support, Maintenance and Services | 52,031 | 33,681 | 95,372 | 64,856 |
Cost of Reimbursed Travel | 29,032 | 20,411 | 49,677 | 34,982 |
Sales And Client Service | 343,234 | 281,192 | 674,135 | 548,548 |
Software Development (Includes amortization of $24,937 and $50,038 for the three and six months ended June 28, 2014; and $23,294 and $45,310 for the three and six months ended June 29, 2013) | 97,326 | 82,282 | 188,871 | 163,345 |
General and Administrative | 57,200 | 51,831 | 112,413 | 99,643 |
Total Costs and Expenses | 660,129 | 541,105 | 1,266,887 | 1,064,565 |
Operating Earnings | 191,633 | 166,456 | 369,636 | 323,025 |
Other Income, Net | 2,737 | 2,733 | 5,727 | 5,777 |
Earnings before Income Taxes | 194,370 | 169,189 | 375,363 | 328,802 |
Income Taxes | -65,337 | -56,282 | -126,804 | -105,855 |
Net Earnings | $129,033 | $112,907 | $248,559 | $222,947 |
Basic Earnings Per Share | $0.38 | $0.33 | $0.73 | $0.65 |
Diluted Earnings Per Share | $0.37 | $0.32 | $0.71 | $0.63 |
Basic Weighted Average Shares Outstanding | 341,788 | 343,800 | 342,787 | 343,976 |
Diluted Weighted Average Shares Outstanding | 349,794 | 352,485 | 351,049 | 352,714 |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations Consolidated Statement of Operations (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Capitalized Computer Software, Amortization | $24,937 | $23,294 | $50,038 | $45,310 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net Earnings | $248,559 | $222,947 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 141,806 | 122,232 |
Share-based compensation expense | 28,269 | 21,123 |
Provision for deferred income taxes | 2,687 | 1,470 |
Changes in assets and liabilities (net of businesses acquired): | ' | ' |
Receivables, net | -15,218 | 38,985 |
Inventory | 579 | 450 |
Prepaid expenses and other | 11,717 | -28,002 |
Accounts payable | -518 | 5,471 |
Accrued income taxes | -4,864 | 11,025 |
Deferred revenue | 17,801 | -12,166 |
Other accrued liabilities | -26,760 | 6,620 |
Net cash provided by operating activities | 404,058 | 390,155 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Capital purchases | -131,997 | -134,987 |
Capitalized software development costs | -86,666 | -77,907 |
Purchases of investments | -500,903 | -537,328 |
Sales and maturities of investments | 572,293 | 533,606 |
Purchase of other intangibles | -7,190 | -35,772 |
Acquisition of businesses, net of cash acquired | -7,476 | -67,802 |
Net cash used in investing activities | -161,939 | -320,190 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Repayment of long-term debt and capital lease obligations | -69 | -9,750 |
Proceeds from excess tax benefits from share-based compensation | 20,642 | 21,675 |
Proceeds from exercise of options | 14,175 | 16,975 |
Treasury stock purchases | -217,082 | -141,791 |
Contingent consideration payments for acquisition of businesses | 0 | -800 |
Cash grants | 48,000 | 0 |
Other | 2,894 | 475 |
Net cash used in financing activities | -131,440 | -113,216 |
Effect of exchange rate changes on cash and cash equivalents | 2,204 | -3,105 |
Net increase (decrease) in cash and cash equivalents | 112,883 | -46,356 |
Cash and cash equivalents at beginning of period | 202,377 | 317,120 |
Cash and cash equivalents at end of period | 315,260 | 270,764 |
Summary of acquisition transactions: | ' | ' |
Fair value of net tangible assets acquired | -1,509 | 1,496 |
Fair value of intangible assets acquired | 3,800 | 25,489 |
Fair value of goodwill | 16,785 | 60,452 |
Less: Fair value of contingent liability payable | -11,600 | -18,982 |
Cash paid for acquisitions | 7,476 | 68,455 |
Cash acquired | $0 | ($653) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income Statement (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ' | ' |
Net Earnings | $129,033 | $112,907 | $248,559 | $222,947 |
Foreign currency translation adjustment and other (net of taxes (benefit) of $(48) and $319 for the three and six months ended June 28, 2014; and $(2,464) and $(618) for the three and six months ended June 29, 2013) | 5,042 | -8,997 | 8,069 | -18,205 |
Unrealized holding gain (loss) on available-for-sale investments (net of taxes (benefit) of $(55) and $7 for the three and six months ended June 28, 2014; and $(658) and $(543) for the three and six months ended June 29, 2013) | -85 | -1,036 | 12 | -860 |
Comprehensive Income | $133,990 | $102,874 | $256,640 | $203,882 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income Consolidated Statement of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Foreign currency translation adjustment and other, taxes (benefit) | ($48) | ($2,464) | $319 | ($618) |
Change in net unrealized holding gain (loss) on available-for-sale investments, taxes (benefit) | ($55) | ($658) | $7 | ($543) |
Interim_Statement_Presentation
Interim Statement Presentation | 6 Months Ended |
Jun. 28, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Interim statement presentation | ' |
(1) Interim Statement Presentation | |
The condensed consolidated financial statements included herein have been prepared by Cerner Corporation (we or the Company) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our latest annual report on Form 10-K. | |
In management’s opinion, the accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position and the results of operations and cash flows for the periods presented. Our interim results as presented in this Form 10-Q are not necessarily indicative of the operating results for the entire year. | |
The condensed consolidated financial statements were prepared using GAAP. These principles require us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Actual results could differ from those estimates. | |
Our second fiscal quarter ends on the Saturday closest to June 30. The 2014 and 2013 second quarters ended on June 28, 2014 and June 29, 2013, respectively. All references to years in these notes to condensed consolidated financial statements represent the respective three or six months ended on such dates, unless otherwise noted. | |
Available-for-sale Investments | |
Our short-term investments are primarily invested in time deposits, commercial paper, government and corporate bonds, with maturities of less than one year. Our long-term investments are primarily invested in government and corporate bonds with maturities of less than two years. | |
Recently Issued Accounting Pronouncements | |
Revenue Recognition. In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. This new guidance is effective for the Company in the first quarter of 2017, with no early adoption permitted. The standard permits the use of either the retrospective or cumulative effect transition method. At this time we have not selected a transition method. We are currently evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. |
Acquisitions
Acquisitions | 6 Months Ended |
Jun. 28, 2014 | |
Business Combinations [Abstract] | ' |
Business Combination Disclosure [Text Block] | ' |
(2) Business Acquisitions | |
InterMedHx | |
On April 1, 2014, we purchased 100% of the outstanding membership interests of InterMedHx, LLC (InterMedHx). InterMedHx is a provider of health technology solutions in the areas of preventive care, patient administration, and medication history. | |
We believe the addition of InterMedHx solutions creates a more comprehensive offering in the market. | |
Consideration for the acquisition of InterMedHx is expected to total $19.1 million consisting of up-front cash plus contingent consideration, which is payable at a percentage of the revenue contribution from InterMedHx solutions and services during the period commencing on April 1, 2014 and ending March 31, 2019. We valued the contingent consideration at $11.6 million based on projections of revenue over the assessment period. | |
The preliminary allocation of purchase price to the estimated fair value of the identified tangible and intangible assets acquired and liabilities assumed resulted in goodwill of $16.8 million and $3.8 million in intangible assets related to the value of existing technologies. The allocation of purchase price is subject to changes as our valuation assessment is finalized and additional information becomes available; however, we do not expect material changes. The goodwill was allocated to our Domestic operating segment and is expected to be deductible for tax purposes. Identifiable intangible assets are being amortized over a period of five years. | |
The operating results of InterMedHx were combined with our operating results subsequent to the purchase date of April 1, 2014. Pro-forma results of operations have not been presented because the effect of this acquisition was not material to our results. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||||
Jun. 28, 2014 | |||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||
(3) Fair Value Measurements | |||||||||||||||
We determine fair value measurements used in our consolidated financial statements based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||||||||||||||
• | Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. | ||||||||||||||
• | Level 2 – Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. | ||||||||||||||
• | Level 3 – Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||
The following table details our financial assets measured and recorded at fair value on a recurring basis at June 28, 2014: | |||||||||||||||
(In thousands) | |||||||||||||||
Fair Value Measurements Using | |||||||||||||||
Description | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | |||||||||||
Money market funds | Cash equivalents | $ | 108,180 | $ | — | $ | — | ||||||||
Time deposits | Cash equivalents | — | 10,008 | — | |||||||||||
Time deposits | Short-term investments | — | 78,955 | — | |||||||||||
Commercial paper | Short-term investments | — | 33,010 | — | |||||||||||
Government and corporate bonds | Short-term investments | — | 561,567 | — | |||||||||||
Government and corporate bonds | Long-term investments | — | 465,869 | — | |||||||||||
The following table details our financial assets measured and recorded at fair value on a recurring basis at December 28, 2013: | |||||||||||||||
(In thousands) | |||||||||||||||
Fair Value Measurements Using | |||||||||||||||
Description | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | |||||||||||
Money market funds | Cash equivalents | $ | 57,254 | $ | — | $ | — | ||||||||
Time deposits | Cash equivalents | — | 7,771 | — | |||||||||||
Commercial Paper | Cash equivalents | — | 3,000 | — | |||||||||||
Government and corporate bonds | Cash equivalents | — | 410 | — | |||||||||||
Time deposits | Short-term investments | — | 70,315 | — | |||||||||||
Commercial paper | Short-term investments | — | 33,742 | — | |||||||||||
Government and corporate bonds | Short-term investments | — | 572,947 | — | |||||||||||
Government and corporate bonds | Long-term investments | — | 542,711 | — | |||||||||||
We estimate the fair value of our long-term, fixed rate debt using a Level 3 discounted cash flow analysis based on current borrowing rates for debt with similar maturities. The fair value of our long-term debt, including current maturities, at June 28, 2014 and December 28, 2013 was approximately $33.2 million and $32.6 million, respectively. The carrying amount of such fixed-rate debt at June 28, 2014 and December 28, 2013 was $31.6 million and $30.6 million, respectively. |
Investments
Investments | 6 Months Ended | ||||||||||||||||
Jun. 28, 2014 | |||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||
(4) Investments | |||||||||||||||||
Available-for-sale investments at June 28, 2014 were as follows: | |||||||||||||||||
(In thousands) | Adjusted Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 108,180 | $ | — | $ | — | $ | 108,180 | |||||||||
Time deposits | 10,008 | — | — | 10,008 | |||||||||||||
Total cash equivalents | 118,188 | — | — | 118,188 | |||||||||||||
Short-term investments: | |||||||||||||||||
Time deposits | 78,955 | 2 | (2 | ) | 78,955 | ||||||||||||
Commercial paper | 33,000 | 12 | (2 | ) | 33,010 | ||||||||||||
Government and corporate bonds | 561,156 | 456 | (45 | ) | 561,567 | ||||||||||||
Total short-term investments | 673,111 | 470 | (49 | ) | 673,532 | ||||||||||||
Long-term investments: | |||||||||||||||||
Government and corporate bonds | 465,925 | 323 | (379 | ) | 465,869 | ||||||||||||
Total available-for-sale investments | $ | 1,257,224 | $ | 793 | $ | (428 | ) | $ | 1,257,589 | ||||||||
Available-for-sale investments at December 28, 2013 were as follows: | |||||||||||||||||
(In thousands) | Adjusted Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 57,254 | $ | — | $ | — | $ | 57,254 | |||||||||
Time deposits | 7,771 | — | — | 7,771 | |||||||||||||
Commercial paper | 3,000 | — | — | 3,000 | |||||||||||||
Government and corporate bonds | 410 | — | — | 410 | |||||||||||||
Total cash equivalents | 68,435 | — | — | 68,435 | |||||||||||||
Short-term investments: | |||||||||||||||||
Time deposits | 70,303 | 12 | — | 70,315 | |||||||||||||
Commercial paper | 33,750 | 1 | (9 | ) | 33,742 | ||||||||||||
Government and corporate bonds | 572,670 | 356 | (79 | ) | 572,947 | ||||||||||||
Total short-term investments | 676,723 | 369 | (88 | ) | 677,004 | ||||||||||||
Long-term investments: | |||||||||||||||||
Government and corporate bonds | 542,644 | 346 | (279 | ) | 542,711 | ||||||||||||
Total available-for-sale investments | $ | 1,287,802 | $ | 715 | $ | (367 | ) | $ | 1,288,150 | ||||||||
Investments reported under the cost method of accounting as of June 28, 2014 and December 28, 2013 were $8.7 million and $7.2 million, respectively. Investments reported under the equity method of accounting as of June 28, 2014 and December 28, 2013 were $4.4 million and $5.0 million, respectively. | |||||||||||||||||
We sold available-for-sale investments for proceeds of $155.8 million and $40.8 million during the six months ended June 28, 2014 and June 29, 2013, respectively, resulting in insignificant gains in each period. |
Receivables
Receivables | 6 Months Ended | |||||||
Jun. 28, 2014 | ||||||||
Receivables [Abstract] | ' | |||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||
(5) Receivables | ||||||||
A summary of net receivables is as follows: | ||||||||
(In thousands) | June 28, 2014 | December 28, 2013 | ||||||
Gross accounts receivable | $ | 616,072 | $ | 583,312 | ||||
Less: Allowance for doubtful accounts | 39,383 | 36,286 | ||||||
Accounts receivable, net of allowance | 576,689 | 547,026 | ||||||
Current portion of lease receivables | 38,241 | 35,900 | ||||||
Total receivables, net | $ | 614,930 | $ | 582,926 | ||||
During the second quarter of 2008, Fujitsu Services Limited’s (Fujitsu) contract as the prime contractor in the National Health Service (NHS) initiative to automate clinical processes and digitize medical records in the Southern region of England was terminated by the NHS. This had the effect of automatically terminating our subcontract for the project. We continue to be in dispute with Fujitsu regarding Fujitsu’s obligation to pay the amounts comprised of accounts receivable and contracts receivable related to that subcontract, and we are working with Fujitsu to resolve these issues based on processes provided for in the contract. Part of that process requires final resolution of disputes between Fujitsu and the NHS regarding the contract termination. As of June 28, 2014, it remains unlikely that our matter with Fujitsu will be resolved in the next 12 months. Therefore, these receivables have been classified as long-term and represent less than the majority of other long-term assets at June 28, 2014 and December 28, 2013. While the ultimate collectability of the receivables pursuant to this process is uncertain, we believe that we have valid and equitable grounds for recovery of such amounts and that collection of recorded amounts is probable. Nevertheless, it is reasonably possible that our estimates regarding collectability of such amounts might materially change in the near term, considering that we do not have complete knowledge of the status of the proceedings between Fujitsu and NHS and their effect on our claim. | ||||||||
During the first six months of 2014 and 2013, we received total client cash collections of $1.7 billion and $1.5 billion, respectively, of which $40.6 million and $30.0 million were received from third party arrangements with non-recourse payment assignments. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 28, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
(6) Income Taxes | |
We determine the tax provision for interim periods using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. | |
Our effective tax rate was 33.8% and 32.2% for the first six months of 2014 and 2013, respectively. | |
In January 2013, the American Taxpayer Relief Act of 2012 (Act) became law. The Act reinstated the research and development tax credit retroactively from January 1, 2012. In the first quarter of 2013, we recognized the research and development tax credit related to 2012 as a favorable discrete item and the credit related to 2013 as a component of the overall 2013 effective tax rate. This credit expired on December 31, 2013. The increase in our effective tax rate through the first six months of 2014 relative to the same period in 2013 is due to the favorable discrete item recorded in the first quarter of 2013 for the retroactive extension of the 2012 credit and the expiration of the credit in 2014. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||||||||||
(7) Earnings Per Share | ||||||||||||||||||||||
A reconciliation of the numerators and the denominators of the basic and diluted per share computations are as follows: | ||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Earnings | Shares | Per-Share | Earnings | Shares | Per-Share | |||||||||||||||||
(In thousands, except per share data) | (Numerator) | (Denominator) | Amount | (Numerator) | (Denominator) | Amount | ||||||||||||||||
Basic earnings per share: | ||||||||||||||||||||||
Income available to common shareholders | $ | 129,033 | 341,788 | $ | 0.38 | $ | 112,907 | 343,800 | $ | 0.33 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||
Stock options and non-vested shares | — | 8,006 | — | 8,685 | ||||||||||||||||||
Diluted earnings per share: | ||||||||||||||||||||||
Income available to common shareholders including assumed conversions | $ | 129,033 | 349,794 | $ | 0.37 | $ | 112,907 | 352,485 | $ | 0.32 | ||||||||||||
For the three months ended June 28, 2014 and June 29, 2013, options to purchase 5.9 million and 6.3 million shares of common stock at per share prices ranging from $38.66 to $60.37 and $35.91 to $49.43, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive. | ||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Earnings | Shares | Per-Share | Earnings | Shares | Per-Share | |||||||||||||||||
(In thousands, except per share data) | (Numerator) | (Denominator) | Amount | (Numerator) | (Denominator) | Amount | ||||||||||||||||
Basic earnings per share: | ||||||||||||||||||||||
Income available to common shareholders | $ | 248,559 | 342,787 | $ | 0.73 | $ | 222,947 | 343,976 | $ | 0.65 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||
Stock options and non-vested shares | — | 8,262 | — | 8,738 | ||||||||||||||||||
Diluted earnings per share: | ||||||||||||||||||||||
Income available to common shareholders including assumed conversions | $ | 248,559 | 351,049 | $ | 0.71 | $ | 222,947 | 352,714 | $ | 0.63 | ||||||||||||
For the six months ended June 28, 2014 and June 29, 2013, options to purchase 4.8 million and 5.1 million shares of common stock at per share prices ranging from $38.66 to $60.37 and $32.92 to $49.43, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive. |
ShareBased_Compensation
Share-Based Compensation | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||
(8) Share-Based Compensation and Equity | ||||||||||||||||
Stock Options | ||||||||||||||||
Options activity for the six months ended June 28, 2014 was as follows: | ||||||||||||||||
(In thousands, except per share data) | Number of | Weighted- | Aggregate | Weighted-Average | ||||||||||||
Shares | Average | Intrinsic | Remaining | |||||||||||||
Exercise | Value | Contractual | ||||||||||||||
Price | Term (Yrs) | |||||||||||||||
Outstanding at beginning of year | 24,407 | $ | 22.24 | |||||||||||||
Granted | 3,170 | 51.91 | ||||||||||||||
Exercised | (1,391 | ) | 11.47 | |||||||||||||
Forfeited and expired | (202 | ) | 41.74 | |||||||||||||
Outstanding as of June 28, 2014 | 25,984 | 26.28 | $ | 654,535 | 6.38 | |||||||||||
Exercisable as of June 28, 2014 | 15,261 | $ | 13.87 | $ | 570,744 | 4.85 | ||||||||||
The weighted-average assumptions used to estimate the fair value of stock options granted in 2014 were as follows: | ||||||||||||||||
Expected volatility (%) | 29.7 | % | ||||||||||||||
Expected term (yrs) | 9.2 | |||||||||||||||
Risk-free rate (%) | 2.9 | % | ||||||||||||||
Fair value per option | $ | 22.53 | ||||||||||||||
As of June 28, 2014, there was $160.1 million of total unrecognized compensation cost related to stock options granted under all plans. That cost is expected to be recognized over a weighted-average period of 3.54 years. | ||||||||||||||||
Non-vested Shares | ||||||||||||||||
Non-vested share activity for the six months ended June 28, 2014 was as follows: | ||||||||||||||||
(In thousands, except per share data) | Number of Shares | Weighted-Average | ||||||||||||||
Grant Date Fair Value | ||||||||||||||||
Outstanding at beginning of year | 552 | $ | 38.54 | |||||||||||||
Granted | 166 | 55.38 | ||||||||||||||
Vested | (194 | ) | 32.47 | |||||||||||||
Forfeited | (3 | ) | 32.22 | |||||||||||||
Outstanding as of June 28, 2014 | 521 | $ | 46.18 | |||||||||||||
As of June 28, 2014, there was $15.7 million of total unrecognized compensation cost related to non-vested share awards granted under all plans. That cost is expected to be recognized over a weighted-average period of 1.81 years. | ||||||||||||||||
The following table presents total compensation expense recognized with respect to stock options, non-vested shares and our associate stock purchase plan: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Stock option and non-vested share compensation expense | $ | 14,620 | $ | 10,529 | $ | 28,269 | $ | 21,123 | ||||||||
Associate stock purchase plan expense | 1,094 | 868 | 2,377 | 1,699 | ||||||||||||
Amounts capitalized in software development costs, net of amortization | (510 | ) | (464 | ) | (674 | ) | (663 | ) | ||||||||
Amounts charged against earnings, before income tax benefit | $ | 15,204 | $ | 10,933 | $ | 29,972 | $ | 22,159 | ||||||||
Amount of related income tax benefit recognized in earnings | $ | 5,336 | $ | 4,242 | $ | 10,520 | $ | 8,598 | ||||||||
Treasury Stock | ||||||||||||||||
In May 2014, our Board of Directors approved an amendment to the stock repurchase program that was authorized in December 2013. Under the amendment, the Company may repurchase shares of our common stock up to an additional $100.0 million. This increase authorizes repurchase of up to $317.0 million in the aggregate, excluding transaction costs. The repurchases are to be effectuated in the open market, by block purchase, or possibly through other transactions managed by broker-dealers. No time limit was set for completion of the program. | ||||||||||||||||
During the six months ended June 28, 2014, we repurchased 4.1 million shares for consideration of $217.0 million, excluding transaction costs. These shares were recorded as treasury stock and accounted for under the cost method. No repurchased shares have been retired. At June 28, 2014, $100.0 million remains available for purchases under the program. |
Hedging_Activities
Hedging Activities | 6 Months Ended | ||||||||||||||||
Jun. 28, 2014 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | ||||||||||||||||
(9) Hedging Activities | |||||||||||||||||
The following table represents the fair value of our net investment hedge included within the condensed consolidated balance sheets: | |||||||||||||||||
(In thousands) | Fair Value | ||||||||||||||||
Derivatives Designated | Balance Sheet Classification | June 28, 2014 | December 28, 2013 | ||||||||||||||
Net investment hedge | Short-term liabilities | $ | 15,816 | $ | 15,304 | ||||||||||||
Net investment hedge | Long-term liabilities | 15,816 | 15,304 | ||||||||||||||
Total net investment hedge | $ | 31,632 | $ | 30,608 | |||||||||||||
The following table represents the related unrealized gain or loss, net of related income tax effects, on the net investment hedge recognized in comprehensive income: | |||||||||||||||||
(In thousands) | Net Unrealized Gain (Loss) | Net Unrealized Gain (Loss) | |||||||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||||||||
Derivatives Designated | Balance Sheet Classification | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Net investment hedge | Short-term liabilities | $ | (223 | ) | $ | (7 | ) | $ | (314 | ) | $ | 525 | |||||
Net investment hedge | Long-term liabilities | (223 | ) | (3 | ) | (314 | ) | 1,060 | |||||||||
Total net investment hedge | $ | (446 | ) | $ | (10 | ) | $ | (628 | ) | $ | 1,585 | ||||||
Contingencies
Contingencies | 6 Months Ended |
Jun. 28, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
(10) Contingencies | |
The terms of our software license agreements with our clients generally provide for a limited indemnification of such clients against losses, expenses and liabilities arising from third party claims based on alleged infringement by our solutions of an intellectual property right of such third party. The terms of such indemnification often limit the scope of and remedies for such indemnification obligations and generally include a right to replace or modify an infringing solution. To date, we have not had to reimburse any of our clients for any losses related to these indemnification provisions pertaining to third party intellectual property infringement claims. For several reasons, including the lack of prior indemnification claims and the lack of a monetary liability limit for certain infringement cases under the terms of the corresponding agreements with our clients, we cannot determine the maximum amount of potential future payments, if any, related to such indemnification provisions. | |
In addition to commitments and obligations in the ordinary course of business, we are subject to various legal proceedings and claims. Many of these proceedings are at preliminary stages and many seek an indeterminate amount of damages. | |
No less than quarterly, we review the status of each significant matter and assess our potential financial exposure. We accrue a liability for an estimated loss if the potential loss from any legal proceeding or claim is considered probable and the amount can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether the amount of an exposure is reasonably estimable, and accruals are based only on the information available to our management at the time the judgment is made. Furthermore, the outcome of legal proceedings is inherently uncertain, and we may incur substantial defense costs and expenses defending any of these matters. Should any one or a combination of more than one of these proceedings be successful, or should we determine to settle any or a combination of these matters, we may be required to pay substantial sums, become subject to the entry of an injunction or be forced to change the manner in which we operate our business, which could have a material adverse impact on our financial position or results of operations. | |
RLIS, Inc., a non-practicing entity, filed a complaint in the Southern District of Texas against the Company alleging that certain of the Company’s electronic medical record solutions infringe two patents owned by the plaintiff. Plaintiff is requesting unspecified damages, trebling of those damages due to willful infringement, attorneys’ fees, costs, an ongoing royalty and an injunction enjoining the sale and use of certain capabilities of the allegedly infringing solutions. The plaintiff’s expert estimates damages of between $35.3 million and $38.2 million and an ongoing royalty. The Company disputes these claims and intends to vigorously defend itself in this matter. The trial is set for the third quarter of 2014. | |
We are currently unable to estimate a range of reasonably possible losses for the proceeding described above because of the extreme complexity of calculating damages in connection with these types of cases and the vastly disparate damage calculations that can result from the ultimate resolution of the many outstanding legal and factual issues of the case. In the opinion of our management, while there is a reasonable possibility that we may incur losses with respect to the aforementioned matter, we do not believe a loss is probable at this time. Our management will continue to evaluate the potential exposure related to this matter in future periods. |
Segments
Segments | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||
(11) Segment Reporting | ||||||||||||||||
We have two operating segments, Domestic and Global. Our Chief Executive Officer is our chief operating decision maker ("CODM"). Revenues are derived primarily from the sale of clinical, financial and administrative information systems and solutions. The cost of revenues includes the cost of third party consulting services, computer hardware, devices and sublicensed software purchased from manufacturers for delivery to clients. It also includes the cost of hardware maintenance and sublicensed software support subcontracted to the manufacturers. Operating expenses incurred by the geographic business segments consist of sales and client service expenses including salaries of sales and client service personnel, communications expenses and unreimbursed travel expenses. “Other” includes expenses that have not been allocated to the operating segments, such as software development, marketing, general and administrative, share-based compensation expense and depreciation. Performance of the segments is assessed at the operating earnings level and, therefore, the segment operations have been presented as such, as our CODM reviews segment performance exclusive of these charges. Items such as interest, income taxes, capital expenditures and total assets are managed at the consolidated level and thus are not included in our operating segment disclosures. Accounting policies for each of the reportable segments are the same as those used on a consolidated basis. | ||||||||||||||||
The following table presents a summary of our operating segments and other expense for the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Three Months Ended 2014 | ||||||||||||||||
Revenues | $ | 766,763 | $ | 84,999 | $ | — | $ | 851,762 | ||||||||
Cost of revenues | 147,776 | 14,593 | — | 162,369 | ||||||||||||
Operating expenses | 165,653 | 34,962 | 297,145 | 497,760 | ||||||||||||
Total costs and expenses | 313,429 | 49,555 | 297,145 | 660,129 | ||||||||||||
Operating earnings (loss) | $ | 453,334 | $ | 35,444 | $ | (297,145 | ) | $ | 191,633 | |||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Three Months Ended 2013 | ||||||||||||||||
Revenues | $ | 618,991 | $ | 88,570 | $ | — | $ | 707,561 | ||||||||
Cost of revenues | 113,099 | 12,701 | — | 125,800 | ||||||||||||
Operating expenses | 143,111 | 24,977 | 247,217 | 415,305 | ||||||||||||
Total costs and expenses | 256,210 | 37,678 | 247,217 | 541,105 | ||||||||||||
Operating earnings (loss) | $ | 362,781 | $ | 50,892 | $ | (247,217 | ) | $ | 166,456 | |||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Six Months Ended 2014 | ||||||||||||||||
Revenues | $ | 1,464,467 | $ | 172,056 | $ | — | $ | 1,636,523 | ||||||||
Cost of revenues | 263,121 | 28,347 | — | 291,468 | ||||||||||||
Operating expenses | 326,719 | 68,304 | 580,396 | 975,419 | ||||||||||||
Total costs and expenses | 589,840 | 96,651 | 580,396 | 1,266,887 | ||||||||||||
Operating earnings (loss) | $ | 874,627 | $ | 75,405 | $ | (580,396 | ) | $ | 369,636 | |||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Six Months Ended 2013 | ||||||||||||||||
Revenues | $ | 1,195,630 | $ | 191,960 | $ | — | $ | 1,387,590 | ||||||||
Cost of revenues | 219,796 | 33,233 | — | 253,029 | ||||||||||||
Operating expenses | 290,867 | 50,607 | 470,062 | 811,536 | ||||||||||||
Total costs and expenses | 510,663 | 83,840 | 470,062 | 1,064,565 | ||||||||||||
Operating earnings (loss) | $ | 684,967 | $ | 108,120 | $ | (470,062 | ) | $ | 323,025 | |||||||
Interim_Statement_Presentation1
Interim Statement Presentation (Policies) | 6 Months Ended |
Jun. 28, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently Issued Accounting Pronouncements | |
Revenue Recognition. In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. This new guidance is effective for the Company in the first quarter of 2017, with no early adoption permitted. The standard permits the use of either the retrospective or cumulative effect transition method. At this time we have not selected a transition method. We are currently evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||
Jun. 28, 2014 | |||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||
The following table details our financial assets measured and recorded at fair value on a recurring basis at June 28, 2014: | |||||||||||||||
(In thousands) | |||||||||||||||
Fair Value Measurements Using | |||||||||||||||
Description | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | |||||||||||
Money market funds | Cash equivalents | $ | 108,180 | $ | — | $ | — | ||||||||
Time deposits | Cash equivalents | — | 10,008 | — | |||||||||||
Time deposits | Short-term investments | — | 78,955 | — | |||||||||||
Commercial paper | Short-term investments | — | 33,010 | — | |||||||||||
Government and corporate bonds | Short-term investments | — | 561,567 | — | |||||||||||
Government and corporate bonds | Long-term investments | — | 465,869 | — | |||||||||||
The following table details our financial assets measured and recorded at fair value on a recurring basis at December 28, 2013: | |||||||||||||||
(In thousands) | |||||||||||||||
Fair Value Measurements Using | |||||||||||||||
Description | Balance Sheet Classification | Level 1 | Level 2 | Level 3 | |||||||||||
Money market funds | Cash equivalents | $ | 57,254 | $ | — | $ | — | ||||||||
Time deposits | Cash equivalents | — | 7,771 | — | |||||||||||
Commercial Paper | Cash equivalents | — | 3,000 | — | |||||||||||
Government and corporate bonds | Cash equivalents | — | 410 | — | |||||||||||
Time deposits | Short-term investments | — | 70,315 | — | |||||||||||
Commercial paper | Short-term investments | — | 33,742 | — | |||||||||||
Government and corporate bonds | Short-term investments | — | 572,947 | — | |||||||||||
Government and corporate bonds | Long-term investments | — | 542,711 | — | |||||||||||
Investments_Tables
Investments (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2014 | |||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||
Available-for-sale investments at June 28, 2014 were as follows: | |||||||||||||||||
(In thousands) | Adjusted Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 108,180 | $ | — | $ | — | $ | 108,180 | |||||||||
Time deposits | 10,008 | — | — | 10,008 | |||||||||||||
Total cash equivalents | 118,188 | — | — | 118,188 | |||||||||||||
Short-term investments: | |||||||||||||||||
Time deposits | 78,955 | 2 | (2 | ) | 78,955 | ||||||||||||
Commercial paper | 33,000 | 12 | (2 | ) | 33,010 | ||||||||||||
Government and corporate bonds | 561,156 | 456 | (45 | ) | 561,567 | ||||||||||||
Total short-term investments | 673,111 | 470 | (49 | ) | 673,532 | ||||||||||||
Long-term investments: | |||||||||||||||||
Government and corporate bonds | 465,925 | 323 | (379 | ) | 465,869 | ||||||||||||
Total available-for-sale investments | $ | 1,257,224 | $ | 793 | $ | (428 | ) | $ | 1,257,589 | ||||||||
Available-for-sale investments at December 28, 2013 were as follows: | |||||||||||||||||
(In thousands) | Adjusted Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 57,254 | $ | — | $ | — | $ | 57,254 | |||||||||
Time deposits | 7,771 | — | — | 7,771 | |||||||||||||
Commercial paper | 3,000 | — | — | 3,000 | |||||||||||||
Government and corporate bonds | 410 | — | — | 410 | |||||||||||||
Total cash equivalents | 68,435 | — | — | 68,435 | |||||||||||||
Short-term investments: | |||||||||||||||||
Time deposits | 70,303 | 12 | — | 70,315 | |||||||||||||
Commercial paper | 33,750 | 1 | (9 | ) | 33,742 | ||||||||||||
Government and corporate bonds | 572,670 | 356 | (79 | ) | 572,947 | ||||||||||||
Total short-term investments | 676,723 | 369 | (88 | ) | 677,004 | ||||||||||||
Long-term investments: | |||||||||||||||||
Government and corporate bonds | 542,644 | 346 | (279 | ) | 542,711 | ||||||||||||
Total available-for-sale investments | $ | 1,287,802 | $ | 715 | $ | (367 | ) | $ | 1,288,150 | ||||||||
Receivables_Tables
Receivables (Tables) | 6 Months Ended | |||||||
Jun. 28, 2014 | ||||||||
Receivables [Abstract] | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||
A summary of net receivables is as follows: | ||||||||
(In thousands) | June 28, 2014 | December 28, 2013 | ||||||
Gross accounts receivable | $ | 616,072 | $ | 583,312 | ||||
Less: Allowance for doubtful accounts | 39,383 | 36,286 | ||||||
Accounts receivable, net of allowance | 576,689 | 547,026 | ||||||
Current portion of lease receivables | 38,241 | 35,900 | ||||||
Total receivables, net | $ | 614,930 | $ | 582,926 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||||||||||
Jun. 28, 2014 | ||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||||||||||
A reconciliation of the numerators and the denominators of the basic and diluted per share computations are as follows: | ||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Earnings | Shares | Per-Share | Earnings | Shares | Per-Share | |||||||||||||||||
(In thousands, except per share data) | (Numerator) | (Denominator) | Amount | (Numerator) | (Denominator) | Amount | ||||||||||||||||
Basic earnings per share: | ||||||||||||||||||||||
Income available to common shareholders | $ | 129,033 | 341,788 | $ | 0.38 | $ | 112,907 | 343,800 | $ | 0.33 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||
Stock options and non-vested shares | — | 8,006 | — | 8,685 | ||||||||||||||||||
Diluted earnings per share: | ||||||||||||||||||||||
Income available to common shareholders including assumed conversions | $ | 129,033 | 349,794 | $ | 0.37 | $ | 112,907 | 352,485 | $ | 0.32 | ||||||||||||
Six Months Ended | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Earnings | Shares | Per-Share | Earnings | Shares | Per-Share | |||||||||||||||||
(In thousands, except per share data) | (Numerator) | (Denominator) | Amount | (Numerator) | (Denominator) | Amount | ||||||||||||||||
Basic earnings per share: | ||||||||||||||||||||||
Income available to common shareholders | $ | 248,559 | 342,787 | $ | 0.73 | $ | 222,947 | 343,976 | $ | 0.65 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||
Stock options and non-vested shares | — | 8,262 | — | 8,738 | ||||||||||||||||||
Diluted earnings per share: | ||||||||||||||||||||||
Income available to common shareholders including assumed conversions | $ | 248,559 | 351,049 | $ | 0.71 | $ | 222,947 | 352,714 | $ | 0.63 | ||||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||
Options activity for the six months ended June 28, 2014 was as follows: | ||||||||||||||||
(In thousands, except per share data) | Number of | Weighted- | Aggregate | Weighted-Average | ||||||||||||
Shares | Average | Intrinsic | Remaining | |||||||||||||
Exercise | Value | Contractual | ||||||||||||||
Price | Term (Yrs) | |||||||||||||||
Outstanding at beginning of year | 24,407 | $ | 22.24 | |||||||||||||
Granted | 3,170 | 51.91 | ||||||||||||||
Exercised | (1,391 | ) | 11.47 | |||||||||||||
Forfeited and expired | (202 | ) | 41.74 | |||||||||||||
Outstanding as of June 28, 2014 | 25,984 | 26.28 | $ | 654,535 | 6.38 | |||||||||||
Exercisable as of June 28, 2014 | 15,261 | $ | 13.87 | $ | 570,744 | 4.85 | ||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||
The weighted-average assumptions used to estimate the fair value of stock options granted in 2014 were as follows: | ||||||||||||||||
Expected volatility (%) | 29.7 | % | ||||||||||||||
Expected term (yrs) | 9.2 | |||||||||||||||
Risk-free rate (%) | 2.9 | % | ||||||||||||||
Fair value per option | $ | 22.53 | ||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||||||||||
Non-vested share activity for the six months ended June 28, 2014 was as follows: | ||||||||||||||||
(In thousands, except per share data) | Number of Shares | Weighted-Average | ||||||||||||||
Grant Date Fair Value | ||||||||||||||||
Outstanding at beginning of year | 552 | $ | 38.54 | |||||||||||||
Granted | 166 | 55.38 | ||||||||||||||
Vested | (194 | ) | 32.47 | |||||||||||||
Forfeited | (3 | ) | 32.22 | |||||||||||||
Outstanding as of June 28, 2014 | 521 | $ | 46.18 | |||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | |||||||||||||||
The following table presents total compensation expense recognized with respect to stock options, non-vested shares and our associate stock purchase plan: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Stock option and non-vested share compensation expense | $ | 14,620 | $ | 10,529 | $ | 28,269 | $ | 21,123 | ||||||||
Associate stock purchase plan expense | 1,094 | 868 | 2,377 | 1,699 | ||||||||||||
Amounts capitalized in software development costs, net of amortization | (510 | ) | (464 | ) | (674 | ) | (663 | ) | ||||||||
Amounts charged against earnings, before income tax benefit | $ | 15,204 | $ | 10,933 | $ | 29,972 | $ | 22,159 | ||||||||
Amount of related income tax benefit recognized in earnings | $ | 5,336 | $ | 4,242 | $ | 10,520 | $ | 8,598 | ||||||||
Hedging_Activities_Tables
Hedging Activities (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 28, 2014 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | ||||||||||||||||
The following table represents the fair value of our net investment hedge included within the condensed consolidated balance sheets: | |||||||||||||||||
(In thousands) | Fair Value | ||||||||||||||||
Derivatives Designated | Balance Sheet Classification | June 28, 2014 | December 28, 2013 | ||||||||||||||
Net investment hedge | Short-term liabilities | $ | 15,816 | $ | 15,304 | ||||||||||||
Net investment hedge | Long-term liabilities | 15,816 | 15,304 | ||||||||||||||
Total net investment hedge | $ | 31,632 | $ | 30,608 | |||||||||||||
The following table represents the related unrealized gain or loss, net of related income tax effects, on the net investment hedge recognized in comprehensive income: | |||||||||||||||||
(In thousands) | Net Unrealized Gain (Loss) | Net Unrealized Gain (Loss) | |||||||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||||||||
Derivatives Designated | Balance Sheet Classification | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Net investment hedge | Short-term liabilities | $ | (223 | ) | $ | (7 | ) | $ | (314 | ) | $ | 525 | |||||
Net investment hedge | Long-term liabilities | (223 | ) | (3 | ) | (314 | ) | 1,060 | |||||||||
Total net investment hedge | $ | (446 | ) | $ | (10 | ) | $ | (628 | ) | $ | 1,585 | ||||||
Segments_Tables
Segments (Tables) | 6 Months Ended | |||||||||||||||
Jun. 28, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Summary of Operating Info [Table Text Block] | ' | |||||||||||||||
The following table presents a summary of our operating segments and other expense for the three and six months ended June 28, 2014 and June 29, 2013: | ||||||||||||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Three Months Ended 2014 | ||||||||||||||||
Revenues | $ | 766,763 | $ | 84,999 | $ | — | $ | 851,762 | ||||||||
Cost of revenues | 147,776 | 14,593 | — | 162,369 | ||||||||||||
Operating expenses | 165,653 | 34,962 | 297,145 | 497,760 | ||||||||||||
Total costs and expenses | 313,429 | 49,555 | 297,145 | 660,129 | ||||||||||||
Operating earnings (loss) | $ | 453,334 | $ | 35,444 | $ | (297,145 | ) | $ | 191,633 | |||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Three Months Ended 2013 | ||||||||||||||||
Revenues | $ | 618,991 | $ | 88,570 | $ | — | $ | 707,561 | ||||||||
Cost of revenues | 113,099 | 12,701 | — | 125,800 | ||||||||||||
Operating expenses | 143,111 | 24,977 | 247,217 | 415,305 | ||||||||||||
Total costs and expenses | 256,210 | 37,678 | 247,217 | 541,105 | ||||||||||||
Operating earnings (loss) | $ | 362,781 | $ | 50,892 | $ | (247,217 | ) | $ | 166,456 | |||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Six Months Ended 2014 | ||||||||||||||||
Revenues | $ | 1,464,467 | $ | 172,056 | $ | — | $ | 1,636,523 | ||||||||
Cost of revenues | 263,121 | 28,347 | — | 291,468 | ||||||||||||
Operating expenses | 326,719 | 68,304 | 580,396 | 975,419 | ||||||||||||
Total costs and expenses | 589,840 | 96,651 | 580,396 | 1,266,887 | ||||||||||||
Operating earnings (loss) | $ | 874,627 | $ | 75,405 | $ | (580,396 | ) | $ | 369,636 | |||||||
(In thousands) | Domestic | Global | Other | Total | ||||||||||||
Six Months Ended 2013 | ||||||||||||||||
Revenues | $ | 1,195,630 | $ | 191,960 | $ | — | $ | 1,387,590 | ||||||||
Cost of revenues | 219,796 | 33,233 | — | 253,029 | ||||||||||||
Operating expenses | 290,867 | 50,607 | 470,062 | 811,536 | ||||||||||||
Total costs and expenses | 510,663 | 83,840 | 470,062 | 1,064,565 | ||||||||||||
Operating earnings (loss) | $ | 684,967 | $ | 108,120 | $ | (470,062 | ) | $ | 323,025 | |||||||
Interim_Statement_Presentation2
Interim Statement Presentation (Details) | 6 Months Ended |
Jun. 28, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Maximum Time Until Maturity of Short-term Available-for-Sale Investments | '1 year 0 months 0 days |
Maximum Time Until Maturity of Long-term Available-for-Sale Investments | '2 years 0 months 0 days |
Acquisitions_Details
Acquisitions (Details) (USD $) | 6 Months Ended | ||
Jun. 28, 2014 | Apr. 01, 2014 | Dec. 28, 2013 | |
Business Combinations [Abstract] | ' | ' | ' |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | ' | $16,800,000 | ' |
Business Acquisition, Effective Date of Acquisition | 1-Apr-14 | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | 100.00% | ' |
Business Acquisition, Name of Acquired Entity | 'InterMedHx, LLC (InterMedHx) | ' | ' |
Business Acquisition, Description of Acquired Entity | 'InterMedHx is a provider of health technology solutions in the areas of preventive care, patient administration, and medication history. | ' | ' |
Business Combination, Reason for Business Combination | 'We believe the addition of InterMedHx solutions creates a more comprehensive offering in the market. | ' | ' |
Business Combination, Consideration Transferred | 19,100,000 | ' | ' |
Business Combination, Contingent Consideration Arrangements, Description | 'payable at a percentage of the revenue contribution from InterMedHx solutions and services during the period commencing on April 1, 2014 and ending March 31, 2019 | ' | ' |
Business Combination, Contingent Consideration, Liability | ' | 11,600,000 | ' |
Goodwill | 324,108,000 | 16,800,000 | 307,422,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | ' | $3,800,000 | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Reasons | 'The allocation of purchase price is subject to changes as our valuation assessment is finalized and additional information becomes available; however, we do not expect material changes. | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '5 years | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Debt Instrument, Fair Value Disclosure | $33.20 | $32.60 |
Long-term Debt | $31.60 | $30.60 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | $1,257,589 | $1,288,150 |
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 108,180 | 57,254 |
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Bank Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Bank Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 10,008 | 7,771 |
Bank Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | ' | 0 |
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | ' | 3,000 |
Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | ' | 0 |
Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | ' | 0 |
Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | ' | 410 |
Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | ' | 0 |
Short-term Investments [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 673,532 | 677,004 |
Short-term Investments [Member] | Bank Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Short-term Investments [Member] | Bank Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 78,955 | 70,315 |
Short-term Investments [Member] | Bank Time Deposits [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Short-term Investments [Member] | Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Short-term Investments [Member] | Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 33,010 | 33,742 |
Short-term Investments [Member] | Commercial Paper [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Short-term Investments [Member] | Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Short-term Investments [Member] | Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 561,567 | 572,947 |
Short-term Investments [Member] | Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Long-term investments [Member] | Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 0 | 0 |
Long-term investments [Member] | Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 465,869 | 542,711 |
Long-term investments [Member] | Government And Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | $0 | $0 |
Investments_Details
Investments (Details) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $1,257,224 | $1,287,802 |
Available-for-Sale Investments, Gross Unrealized Gains | 793 | 715 |
Available-for-Sale Investments, Gross Unrealized Losses | -428 | -367 |
Available-for-sale Securities | 1,257,589 | 1,288,150 |
Cash and Cash Equivalents [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 118,188 | 68,435 |
Available-for-Sale Investments, Gross Unrealized Gains | 0 | 0 |
Available-for-Sale Investments, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | 118,188 | 68,435 |
Cash and Cash Equivalents [Member] | Money Market Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 108,180 | 57,254 |
Available-for-Sale Investments, Gross Unrealized Gains | 0 | 0 |
Available-for-Sale Investments, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | 108,180 | 57,254 |
Cash and Cash Equivalents [Member] | Bank Time Deposits [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 10,008 | 7,771 |
Available-for-Sale Investments, Gross Unrealized Gains | 0 | 0 |
Available-for-Sale Investments, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities | 10,008 | 7,771 |
Cash and Cash Equivalents [Member] | Commercial Paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | ' | 3,000 |
Available-for-Sale Investments, Gross Unrealized Gains | ' | 0 |
Available-for-Sale Investments, Gross Unrealized Losses | ' | 0 |
Available-for-sale Securities | ' | 3,000 |
Cash and Cash Equivalents [Member] | Government And Corporate Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | ' | 410 |
Available-for-Sale Investments, Gross Unrealized Gains | ' | 0 |
Available-for-Sale Investments, Gross Unrealized Losses | ' | 0 |
Available-for-sale Securities | ' | 410 |
Short-term Investments [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 673,111 | 676,723 |
Available-for-Sale Investments, Gross Unrealized Gains | 470 | 369 |
Available-for-Sale Investments, Gross Unrealized Losses | -49 | -88 |
Available-for-sale Securities | 673,532 | 677,004 |
Short-term Investments [Member] | Bank Time Deposits [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 78,955 | 70,303 |
Available-for-Sale Investments, Gross Unrealized Gains | 2 | 12 |
Available-for-Sale Investments, Gross Unrealized Losses | -2 | 0 |
Available-for-sale Securities | 78,955 | 70,315 |
Short-term Investments [Member] | Commercial Paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 33,000 | 33,750 |
Available-for-Sale Investments, Gross Unrealized Gains | 12 | 1 |
Available-for-Sale Investments, Gross Unrealized Losses | -2 | -9 |
Available-for-sale Securities | 33,010 | 33,742 |
Short-term Investments [Member] | Government And Corporate Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 561,156 | 572,670 |
Available-for-Sale Investments, Gross Unrealized Gains | 456 | 356 |
Available-for-Sale Investments, Gross Unrealized Losses | -45 | -79 |
Available-for-sale Securities | 561,567 | 572,947 |
Long-term investments [Member] | Government And Corporate Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 465,925 | 542,644 |
Available-for-Sale Investments, Gross Unrealized Gains | 323 | 346 |
Available-for-Sale Investments, Gross Unrealized Losses | -379 | -279 |
Available-for-sale Securities | $465,869 | $542,711 |
Investments_Investments_Narrat
Investments Investments (Narrative) (Details) (USD $) | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 28, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' |
Cost Method Investments | $8.70 | ' | $7.20 |
Equity Method Investments | 4.4 | ' | 5 |
Proceeds from Sale of Available-for-sale Securities | $155.80 | $40.80 | ' |
Receivables_Summary_of_Net_Rec
Receivables (Summary of Net Receivables) (Details) (USD $) | Jun. 28, 2014 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Accounts Receivable, Gross, Current | $616,072 | $583,312 |
Allowance for Doubtful Accounts Receivable, Current | 39,383 | 36,286 |
Accounts Receivable, Net, Current | 576,689 | 547,026 |
Capital Leases, Lessor Balance Sheet, Net Investment in Sales Type Leases, Current | 38,241 | 35,900 |
Receivables, Net, Current | $614,930 | $582,926 |
Receivables_Narrative_Details
Receivables (Narrative) (Details) (USD $) | 6 Months Ended | |
Jun. 28, 2014 | Jun. 29, 2013 | |
Receivables [Abstract] | ' | ' |
Proceeds from Customers | $1,700,000,000 | $1,500,000,000 |
Cash Collections Received From Third Party Arrangements With Nonrecourse Payment Assignments | $40,600,000 | $30,000,000 |
Income_Taxes_Details
Income Taxes (Details) | 6 Months Ended | |
Jun. 28, 2014 | Jun. 29, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, Percent | 33.80% | 32.20% |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5.9 | 6.3 | 4.8 | 5.1 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $38.66 | $35.91 | $38.66 | $32.92 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $60.37 | $49.43 | $60.37 | $49.43 |
Earnings_Per_Share_Reconciliat
Earnings Per Share Reconciliation of the Numerators and Denominators of the Basic and Diluted Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net Income (Loss) Available to Common Stockholders, Basic | $129,033 | $112,907 | $248,559 | $222,947 |
Basic Weighted Average Shares Outstanding | 341,788 | 343,800 | 342,787 | 343,976 |
Basic Earnings Per Share | $0.38 | $0.33 | $0.73 | $0.65 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 8,006 | 8,685 | 8,262 | 8,738 |
Net Income (Loss) Available to Common Stockholders, Diluted | $129,033 | $112,907 | $248,559 | $222,947 |
Diluted Weighted Average Shares Outstanding | 349,794 | 352,485 | 351,049 | 352,714 |
Diluted Earnings Per Share | $0.37 | $0.32 | $0.71 | $0.63 |
ShareBased_Compensation_Narrat
Share-Based Compensation (Narrative) (Details) (USD $) | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 28, 2014 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $15.70 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 160.1 |
Stock Repurchase Program, Increase in Authorized Amount | 100 |
Stock Repurchase Program, Authorized Amount | 317 |
Stock Repurchased During Period, Shares | 4.1 |
Treasury Stock Purchases | '217 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $100 |
Restricted Stock [Member] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '1 year 9 months 22 days |
Employee Stock Option [Member] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '3 years 6 months 15 days |
ShareBased_Compensation_Schedu
Share-Based Compensation (Schedule of Stock Option Activity) (Details) (USD $) | 6 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Dec. 28, 2013 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 25,984 | 24,407 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $26.28 | $22.24 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $654,535 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 4 months 18 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 3,170 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $51.91 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -1,391 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $11.47 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | -202 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $41.74 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 15,261 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $13.87 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $570,744 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '4 years 10 months 5 days | ' |
ShareBased_Compensation_Schedu1
Share-Based Compensation (Schedule of Share Based Payment Award, Stock Options, Valuation Assumptions) (Details) (USD $) | 6 Months Ended |
Jun. 28, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Expected Volatility (%) | 29.70% |
Expected Term (years) | '9 years 1 month 25 days |
Risk Free Interest Rate (%) | 2.90% |
Fair Value per Option | $22.53 |
ShareBased_Compensation_Schedu2
Share-Based Compensation (Schedule of Non-Vested Shares Activity) (Details) (Restricted Stock [Member], USD $) | 6 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jun. 28, 2014 | Dec. 28, 2013 |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 521 | 552 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 166 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $55.38 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | -194 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $32.47 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -3 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $32.22 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $46.18 | $38.54 |
ShareBased_Compensation_Compen
Share-Based Compensation (Compensation Expense Recognized in Condensed Consolidated Statement of Operations) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Amounts Charged Against Earnings, before Tax Benefit | $15,204 | $10,933 | $29,972 | $22,159 |
Tax Benefit Recognized in Earnings | 5,336 | 4,242 | 10,520 | 8,598 |
Stock Option And Non Vested Share Compensation Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Amounts Charged Against Earnings, before Tax Benefit | 14,620 | 10,529 | 28,269 | 21,123 |
Associate Stock Purchase Plan Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Amounts Charged Against Earnings, before Tax Benefit | 1,094 | 868 | 2,377 | 1,699 |
Amounts Capitalized In Software Development Costs [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Amounts Charged Against Earnings, before Tax Benefit | ($510) | ($464) | ($674) | ($663) |
Hedging_Activities_Details
Hedging Activities (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 28, 2013 |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Net Unrealized Gain (Loss) | ($446) | ($10) | ($628) | $1,585 | ' |
Fair Value | 31,632 | ' | 31,632 | ' | 30,608 |
Short Term Liabilities [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Net Unrealized Gain (Loss) | -223 | -7 | -314 | 525 | ' |
Fair Value | 15,816 | ' | 15,816 | ' | 15,304 |
Long Term Liabilities [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Net Unrealized Gain (Loss) | -223 | -3 | -314 | 1,060 | ' |
Fair Value | $15,816 | ' | $15,816 | ' | $15,304 |
Contingencies_Narrative_Detail
Contingencies Narrative Details (Details) | 6 Months Ended |
Jun. 28, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Loss Contingency, Name of Plaintiff | 'RLIS, Inc., a non-practicing entity |
Loss Contingency, Allegations | 'alleging that certain of the Companybs electronic medical record solutions infringe two patents owned by the plaintiff |
Loss Contingency, Damages Sought | 'Plaintiff is requesting unspecified damages, trebling of those damages due to willful infringement, attorneysb fees, costs, an ongoing royalty and an injunction enjoining the sale and use of certain capabilities of the allegedly infringing solutions.B The plaintiffbs expert estimates damages of between $35.3 million and $38.2 million and an ongoing royalty. |
Loss Contingency, Management's Assessment and Process | 'We are currently unable to estimate a range of reasonably possible losses for the proceeding described above because of the extreme complexity of calculating damages in connection with these types of cases and the vastly disparate damage calculations that can result from the ultimate resolution of the many outstanding legal and factual issues of the case. In the opinion of our management, while there is a reasonable possibility that we may incur losses with respect to the aforementioned matter, we do not believe a loss is probable at this time |
Segments_Details
Segments (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 28, 2014 | Jun. 29, 2013 | Jun. 28, 2014 | Jun. 29, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total Revenue | $851,762 | $707,561 | $1,636,523 | $1,387,590 |
Cost of Goods and Services Sold | 162,369 | 125,800 | 291,468 | 253,029 |
Operating Expenses | 497,760 | 415,305 | 975,419 | 811,536 |
Total Costs and Expenses | 660,129 | 541,105 | 1,266,887 | 1,064,565 |
Operating Earnings | 191,633 | 166,456 | 369,636 | 323,025 |
Domestic Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total Revenue | 766,763 | 618,991 | 1,464,467 | 1,195,630 |
Cost of Goods and Services Sold | 147,776 | 113,099 | 263,121 | 219,796 |
Operating Expenses | 165,653 | 143,111 | 326,719 | 290,867 |
Total Costs and Expenses | 313,429 | 256,210 | 589,840 | 510,663 |
Operating Earnings | 453,334 | 362,781 | 874,627 | 684,967 |
Global Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total Revenue | 84,999 | 88,570 | 172,056 | 191,960 |
Cost of Goods and Services Sold | 14,593 | 12,701 | 28,347 | 33,233 |
Operating Expenses | 34,962 | 24,977 | 68,304 | 50,607 |
Total Costs and Expenses | 49,555 | 37,678 | 96,651 | 83,840 |
Operating Earnings | 35,444 | 50,892 | 75,405 | 108,120 |
Other Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Total Revenue | 0 | 0 | 0 | 0 |
Cost of Goods and Services Sold | 0 | 0 | 0 | 0 |
Operating Expenses | 297,145 | 247,217 | 580,396 | 470,062 |
Total Costs and Expenses | 297,145 | 247,217 | 580,396 | 470,062 |
Operating Earnings | ($297,145) | ($247,217) | ($580,396) | ($470,062) |