Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 17, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | TYL | |
Entity Registrant Name | TYLER TECHNOLOGIES INC | |
Entity Central Index Key | 860731 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 33,673,000 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues: | ||
Software licenses and royalties | $14,300 | $11,232 |
Subscriptions | 25,288 | 20,507 |
Software services | 30,804 | 24,307 |
Maintenance | 57,348 | 50,240 |
Appraisal services | 6,089 | 4,851 |
Hardware and other | 1,137 | 1,489 |
Total revenues | 134,966 | 112,626 |
Cost of revenues: | ||
Software licenses and royalties | 553 | 531 |
Acquired software | 456 | 481 |
Software services, maintenance and subscriptions | 65,377 | 54,999 |
Appraisal services | 4,135 | 3,311 |
Hardware and other | 566 | 774 |
Total cost of revenues | 71,087 | 60,096 |
Gross profit | 63,879 | 52,530 |
Selling, general and administrative expenses | 28,545 | 25,367 |
Research and development expense | 7,004 | 6,172 |
Amortization of customer and trade name intangibles | 1,152 | 1,129 |
Operating income | 27,178 | 19,862 |
Other income (expense), net | 181 | -259 |
Income before income taxes | 27,359 | 19,603 |
Income tax provision | 10,086 | 7,720 |
Net income | 17,273 | 11,883 |
Earnings per common share: | ||
Basic | $0.51 | $0.36 |
Diluted | $0.48 | $0.33 |
Comprehensive income | $17,273 | $11,883 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $194,721 | $206,167 |
Accounts receivable (less allowance for losses of $1,422 in 2015 and $1,725 in 2014) | 105,790 | 112,660 |
Prepaid expenses | 17,352 | 17,851 |
Other current assets | 238 | 358 |
Deferred income taxes | 9,674 | 9,674 |
Total current assets | 327,775 | 346,710 |
Accounts receivable, long-term portion | 311 | 1,761 |
Property and equipment, net | 67,301 | 65,910 |
Other assets: | ||
Goodwill | 124,142 | 124,142 |
Other intangibles, net | 33,115 | 34,722 |
Sundry and other | 15,738 | 737 |
Total assets | 568,382 | 573,982 |
Current liabilities: | ||
Accounts payable | 5,373 | 4,119 |
Accrued liabilities | 22,759 | 39,508 |
Income tax payable | 4,816 | |
Deferred revenue | 164,706 | 189,212 |
Total current liabilities | 197,654 | 232,839 |
Deferred income taxes | 4,340 | 4,170 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock, $10.00 par value; 1,000,000 shares authorized; none issued | ||
Common stock, $0.01 par value; 100,000,000 shares authorized; 48,147,969 shares issued in 2015 and 2014 | 481 | 481 |
Additional paid-in capital | 209,910 | 201,389 |
Accumulated other comprehensive loss, net of tax | -46 | -46 |
Retained earnings | 278,423 | 261,150 |
Treasury stock, at cost; 14,488,517 and 14,678,782 shares in 2015 and 2014, respectively | -122,380 | -126,001 |
Total shareholders' equity | 366,388 | 336,973 |
Liabilities and Shareholders' equity, Total | $568,382 | $573,982 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ||
Accounts receivable, allowance for losses | $1,422 | $1,725 |
Preferred stock, par value | $10 | $10 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 48,147,969 | 48,147,969 |
Treasury stock, shares | 14,488,517 | 14,678,782 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net income | $17,273 | $11,883 |
Adjustments to reconcile net income to cash (used) provided by operations: | ||
Depreciation and amortization | 3,713 | 3,656 |
Share-based compensation expense | 4,258 | 3,462 |
Excess tax benefit from exercises of share-based arrangements | -3,558 | -2,158 |
Changes in operating assets and liabilities, exclusive of effects of acquired companies: | ||
Accounts receivable | 8,320 | 24,298 |
Income taxes | 8,394 | 7,695 |
Prepaid expenses and other current assets | 763 | -1,547 |
Accounts payable | -328 | 39 |
Accrued liabilities | -16,423 | -13,328 |
Deferred revenue | -24,507 | -17,440 |
Net cash (used) provided by operating activities | -2,095 | 16,560 |
Cash flows from investing activities: | ||
Investment in Record Holdings Pty Limited | -15,000 | |
Cost of acquisitions | -325 | |
Additions to property and equipment | -1,909 | -3,630 |
Decrease in other | 308 | |
Net cash used by investing activities | -17,234 | -3,322 |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 3,425 | 2,024 |
Contributions from employee stock purchase plan | 900 | 849 |
Excess tax benefit from exercises of share-based arrangements | 3,558 | 2,158 |
Net cash provided by financing activities | 7,883 | 5,031 |
Net (decrease) increase in cash and cash equivalents | -11,446 | 18,269 |
Cash and cash equivalents at beginning of period | 206,167 | 78,876 |
Cash and cash equivalents at end of period | $194,721 | $97,145 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | (1) Basis of Presentation |
We prepared the accompanying condensed consolidated financial statements following the requirements of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States, or GAAP, for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted for interim period. Balance sheet amounts are as of March 31, 2015 and December 31, 2014 and operating result amounts are for the three months ended March 31, 2015 and 2014, and include all normal and recurring adjustments that we considered necessary for the fair summarized presentation of our financial position and operating results. As these are condensed financial statements, one should also read the financial statements and notes included in our latest Form 10-K for the year ended December 31, 2014. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for the full year. | |
On January 30, 2015, we made a $15.0 million investment in convertible preferred stock representing a 20% interest in Record Holdings Pty Limited (“Record Holdings”), a privately held Australian company specializing in digitizing the spoken word in court and legal settings. We do not believe we have the ability to significantly influence the day-to-day activities of Record Holdings and are accounting for this investment under the cost method. |
Shareholders_Equity
Shareholders' Equity | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Equity [Abstract] | ||||||||||||||||
Shareholders' Equity | (2) Shareholders’ Equity | |||||||||||||||
The following table details activity in our common stock: | ||||||||||||||||
Three months ended March 31, | ||||||||||||||||
2015 | 2014 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Stock option exercises | 180 | $ | 3,425 | 156 | $ | 2,024 | ||||||||||
Employee stock plan purchases | 10 | 900 | 10 | 849 | ||||||||||||
As of March 31, 2015, we had authorization from our board of directors to repurchase up to 1.4 million additional shares of Tyler common stock. |
Income_Tax_Provision
Income Tax Provision | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Provision | (3) Income Tax Provision |
For the three months ended March 31, 2015, we had an effective income tax rate of 36.9% compared to an effective income tax rate of 39.4% for the three months ended months March 31, 2014. The effective income tax rates for the periods presented were different from the statutory United States federal income tax rate of 35% primarily due to state income taxes, non-deductible share-based compensation expense, the qualified manufacturing activities deduction, and non-deductible meals and entertainment costs. | |
We made federal and state tax payments of $1.5 million during the three months ended March 31, 2015. We did not make any federal or state income tax payments in the three months ended March 31, 2014. | |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings Per Share | (4) Earnings Per Share | ||||||||
The following table details the reconciliation of basic earnings per share to diluted earnings per share: | |||||||||
Three months ended March 31, | |||||||||
2015 | 2014 | ||||||||
Numerator for basic and diluted earnings per share: | |||||||||
Net income | $ | 17,273 | $ | 11,883 | |||||
Denominator: | |||||||||
Weighted-average basic common shares outstanding | 33,562 | 32,916 | |||||||
Assumed conversion of dilutive securities: | |||||||||
Stock options | 2,333 | 2,584 | |||||||
Denominator for diluted earnings per share | 35,895 | 35,500 | |||||||
- Adjusted weighted-average shares | |||||||||
Earnings per common share: | |||||||||
Basic | $ | 0.51 | $ | 0.36 | |||||
Diluted | $ | 0.48 | $ | 0.33 | |||||
For the three months ended March 31, 2015 and March 31, 2014, stock options representing the right to purchase common stock of approximately 648,000 shares and 302,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect. |
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||||||
Share-Based Compensation | (5) Share-Based Compensation | ||||||||
The following table summarizes share-based compensation expense related to share-based awards recorded in the statements of comprehensive income, pursuant to ASC 718, Stock Compensation: | |||||||||
Three months ended March 31, | |||||||||
2015 | 2014 | ||||||||
Cost of software services, maintenance and subscriptions | $ | 701 | $ | 513 | |||||
Selling, general and administrative expenses | 3,557 | 2,949 | |||||||
Total share-based compensation expenses | $ | 4,258 | $ | 3,462 | |||||
Segment_and_Related_Informatio
Segment and Related Information | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Segment and Related Information | (6) Segment and Related Information | ||||||||||||||||
We are a major provider of integrated information management solutions and services for the public sector, with a focus on local governments. | |||||||||||||||||
We provide our software systems and services and appraisal services through four business units, which focus on the following products: | |||||||||||||||||
· | financial management, education and planning, regulatory and maintenance software solutions; | ||||||||||||||||
· | financial management, municipal courts, and land and vital records management software solutions; | ||||||||||||||||
· | courts and justice software solutions; and | ||||||||||||||||
· | appraisal and tax software solutions and property appraisal services. | ||||||||||||||||
In accordance with ASC 280-10, Segment Reporting, the financial management, education and planning, regulatory and maintenance software solutions unit; financial management, municipal courts and land and vital records management software solutions unit; and the courts and justice software solutions unit meet the criteria for aggregation and are presented in one reportable segment, Enterprise Software Solutions (“ESS”). The ESS segment provides municipal and county governments and schools with software systems and services to meet their information technology and automation needs for mission-critical “back-office” functions such as financial management and courts and justice processes. The Appraisal and Tax Software Solutions and Services (“ATSS”) segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Property appraisal outsourcing services include: the physical inspection of commercial and residential properties; data collection and processing; computer analysis for property valuation; preparation of tax rolls; community education; and arbitration between taxpayers and the assessing jurisdiction. | |||||||||||||||||
We evaluate performance based on several factors, of which the primary financial measure is business segment operating income. We define segment operating income for our business units as income before noncash amortization of intangible assets associated with their acquisition, interest expense and income taxes. Segment operating income includes intercompany transactions. The majority of intercompany transactions relate to contracts involving more than one unit and are valued based on the contractual arrangement. Segment operating income for corporate primarily consists of compensation costs for the executive management team and certain accounting and administrative staff and share-based compensation expense for the entire company. Corporate segment operating income also includes revenues and expenses related to a company-wide user conference. | |||||||||||||||||
For the three months ended March 31, 2015 | |||||||||||||||||
Enterprise | Appraisal and Tax | Corporate | Totals | ||||||||||||||
Software | Software Solutions | ||||||||||||||||
Solutions | and Services | ||||||||||||||||
Revenues | |||||||||||||||||
Software licenses and royalties | $ | 12,327 | $ | 1,973 | $ | — | $ | 14,300 | |||||||||
Subscriptions | 24,309 | 979 | — | 25,288 | |||||||||||||
Software services | 29,168 | 1,636 | — | 30,804 | |||||||||||||
Maintenance | 53,014 | 4,334 | — | 57,348 | |||||||||||||
Appraisal services | — | 6,089 | — | 6,089 | |||||||||||||
Hardware and other | 1,138 | — | (1 | ) | 1,137 | ||||||||||||
Intercompany | 926 | — | (926 | ) | — | ||||||||||||
Total revenues | $ | 120,882 | $ | 15,011 | $ | (927 | ) | $ | 134,966 | ||||||||
Segment operating income | $ | 32,254 | $ | 3,067 | $ | (6,535 | ) | $ | 28,786 | ||||||||
For the three months ended March 31, 2014 | |||||||||||||||||
Enterprise | Appraisal and Tax | Corporate | Totals | ||||||||||||||
Software | Software Solutions | ||||||||||||||||
Solutions | and Services | ||||||||||||||||
Revenues | |||||||||||||||||
Software licenses and royalties | $ | 10,795 | $ | 437 | $ | — | $ | 11,232 | |||||||||
Subscriptions | 19,722 | 785 | — | 20,507 | |||||||||||||
Software services | 22,188 | 2,119 | — | 24,307 | |||||||||||||
Maintenance | 46,093 | 4,147 | — | 50,240 | |||||||||||||
Appraisal services | — | 4,851 | — | 4,851 | |||||||||||||
Hardware and other | 1,489 | — | — | 1,489 | |||||||||||||
Intercompany | 473 | — | (473 | ) | — | ||||||||||||
Total revenues | $ | 100,760 | $ | 12,339 | $ | (473 | ) | $ | 112,626 | ||||||||
Segment operating income | $ | 25,428 | $ | 1,831 | $ | (5,787 | ) | $ | 21,472 | ||||||||
Reconciliation of reportable segment operating | Three months ended March 31, | ||||||||||||||||
income to the Company's consolidated totals: | 2015 | 2014 | |||||||||||||||
Total segment operating income | $ | 28,786 | $ | 21,472 | |||||||||||||
Amortization of acquired software | (456 | ) | (481 | ) | |||||||||||||
Amortization of customer and trade name intangibles | (1,152 | ) | (1,129 | ) | |||||||||||||
Other income (expense), net | 181 | (259 | ) | ||||||||||||||
Income before income taxes | $ | 27,359 | $ | 19,603 | |||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (7) Commitments and Contingencies |
Other than routine litigation incidental to our business, there are no material legal proceedings pending to which we are party or to which any of our properties are subject. | |
New_Accounting_Pronouncements
New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Changes And Error Corrections [Abstract] | |
New Accounting Pronouncements | (8) New Accounting Pronouncements |
On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” This ASU is the result of a convergence project between the FASB and the International Accounting Standards Board. The core principle behind ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for delivering those goods and services. This model involves a five-step process that includes identifying the contract with the customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction prices to the performance obligations in the contract and recognizing revenue when (or as) the entity satisfies the performance obligations. The guidance in the ASU supersedes existing revenue recognition guidance and is effective for annual reporting periods beginning after December 15, 2016 with early application not permitted. The ASU allows two methods of adoption; a full retrospective approach where three years of financial information are presented in accordance with the new standard, and a modified retrospective approach where the ASU is applied to the most current period presented in the financial statements. | |
On April 1, 2015, the FASB voted for a one-year deferral of the effective date of the new standard and will issue an exposure draft proposing the deferral, with a 30-day comment period. The proposal would now require application of the new standard no later than annual reporting periods beginning after December 15, 2017, including interim reporting periods therein; however, under the proposal, public entities would be permitted to elect to early adopt the new standard as of the original effective date. We currently expect to adopt the new standard in fiscal year 2018 in accordance with the revised effective date. | |
We are currently assessing the financial impact of adopting the new standard and the methods of adoption; however, given the scope of the new standard, we are currently unable to provide a reasonable estimate regarding the financial impact or which method of adoption of the new standard we will elect. |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Equity [Abstract] | ||||||||||||||||
Summary of Activities in Common Stock | The following table details activity in our common stock: | |||||||||||||||
Three months ended March 31, | ||||||||||||||||
2015 | 2014 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Stock option exercises | 180 | $ | 3,425 | 156 | $ | 2,024 | ||||||||||
Employee stock plan purchases | 10 | 900 | 10 | 849 | ||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Computation of Basic Earnings and Diluted Earnings Per Share Data | The following table details the reconciliation of basic earnings per share to diluted earnings per share: | ||||||||
Three months ended March 31, | |||||||||
2015 | 2014 | ||||||||
Numerator for basic and diluted earnings per share: | |||||||||
Net income | $ | 17,273 | $ | 11,883 | |||||
Denominator: | |||||||||
Weighted-average basic common shares outstanding | 33,562 | 32,916 | |||||||
Assumed conversion of dilutive securities: | |||||||||
Stock options | 2,333 | 2,584 | |||||||
Denominator for diluted earnings per share | 35,895 | 35,500 | |||||||
- Adjusted weighted-average shares | |||||||||
Earnings per common share: | |||||||||
Basic | $ | 0.51 | $ | 0.36 | |||||
Diluted | $ | 0.48 | $ | 0.33 | |||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||||||
Summary of Share-Based Compensation Expense Related to Share-Based Awards | The following table summarizes share-based compensation expense related to share-based awards recorded in the statements of comprehensive income, pursuant to ASC 718, Stock Compensation: | ||||||||
Three months ended March 31, | |||||||||
2015 | 2014 | ||||||||
Cost of software services, maintenance and subscriptions | $ | 701 | $ | 513 | |||||
Selling, general and administrative expenses | 3,557 | 2,949 | |||||||
Total share-based compensation expenses | $ | 4,258 | $ | 3,462 | |||||
Segment_and_Related_Informatio1
Segment and Related Information (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Schedule of Segment Revenues and Operations | For the three months ended March 31, 2015 | ||||||||||||||||
Enterprise | Appraisal and Tax | Corporate | Totals | ||||||||||||||
Software | Software Solutions | ||||||||||||||||
Solutions | and Services | ||||||||||||||||
Revenues | |||||||||||||||||
Software licenses and royalties | $ | 12,327 | $ | 1,973 | $ | — | $ | 14,300 | |||||||||
Subscriptions | 24,309 | 979 | — | 25,288 | |||||||||||||
Software services | 29,168 | 1,636 | — | 30,804 | |||||||||||||
Maintenance | 53,014 | 4,334 | — | 57,348 | |||||||||||||
Appraisal services | — | 6,089 | — | 6,089 | |||||||||||||
Hardware and other | 1,138 | — | (1 | ) | 1,137 | ||||||||||||
Intercompany | 926 | — | (926 | ) | — | ||||||||||||
Total revenues | $ | 120,882 | $ | 15,011 | $ | (927 | ) | $ | 134,966 | ||||||||
Segment operating income | $ | 32,254 | $ | 3,067 | $ | (6,535 | ) | $ | 28,786 | ||||||||
For the three months ended March 31, 2014 | |||||||||||||||||
Enterprise | Appraisal and Tax | Corporate | Totals | ||||||||||||||
Software | Software Solutions | ||||||||||||||||
Solutions | and Services | ||||||||||||||||
Revenues | |||||||||||||||||
Software licenses and royalties | $ | 10,795 | $ | 437 | $ | — | $ | 11,232 | |||||||||
Subscriptions | 19,722 | 785 | — | 20,507 | |||||||||||||
Software services | 22,188 | 2,119 | — | 24,307 | |||||||||||||
Maintenance | 46,093 | 4,147 | — | 50,240 | |||||||||||||
Appraisal services | — | 4,851 | — | 4,851 | |||||||||||||
Hardware and other | 1,489 | — | — | 1,489 | |||||||||||||
Intercompany | 473 | — | (473 | ) | — | ||||||||||||
Total revenues | $ | 100,760 | $ | 12,339 | $ | (473 | ) | $ | 112,626 | ||||||||
Segment operating income | $ | 25,428 | $ | 1,831 | $ | (5,787 | ) | $ | 21,472 | ||||||||
Reconciliation of Operating Income from Segments to Consolidated | Reconciliation of reportable segment operating | Three months ended March 31, | |||||||||||||||
income to the Company's consolidated totals: | 2015 | 2014 | |||||||||||||||
Total segment operating income | $ | 28,786 | $ | 21,472 | |||||||||||||
Amortization of acquired software | (456 | ) | (481 | ) | |||||||||||||
Amortization of customer and trade name intangibles | (1,152 | ) | (1,129 | ) | |||||||||||||
Other income (expense), net | 181 | (259 | ) | ||||||||||||||
Income before income taxes | $ | 27,359 | $ | 19,603 | |||||||||||||
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) (Convertible Preferred Stock, Record Holdings Pty Limited, USD $) | Jan. 30, 2015 |
In Millions, unless otherwise specified | |
Convertible Preferred Stock | Record Holdings Pty Limited | |
Accounting Policies [Line Items] | |
Investment | $15 |
Investment percentage | 20.00% |
Shareholders_Equity_Summary_of
Shareholders' Equity - Summary of Activities in Common Stock (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Equity [Abstract] | ||
Stock option exercises, Shares | 180 | 156 |
Employee stock plan purchases, Shares | 10 | 10 |
Stock option exercises, Amount | $3,425 | $2,024 |
Employee stock plan purchases, Amount | $900 | $849 |
Shareholders_Equity_Additional
Shareholders' Equity - Additional Information (Detail) | Mar. 31, 2015 |
Equity [Abstract] | |
Number of shares authorized to be repurchased | 1,400,000 |
Income_Tax_Provision_Additiona
Income Tax Provision - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Effective income tax rate | 36.90% | 39.40% |
Federal income tax rate | 35.00% | |
Federal and state income tax payments | $1,500,000 | $0 |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic Earnings and Diluted Earnings Per Share Data (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share [Abstract] | ||
Net income | $17,273 | $11,883 |
Weighted-average basic common shares outstanding | 33,562 | 32,916 |
Stock options | 2,333 | 2,584 |
Denominator for diluted earnings per share - Adjusted weighted-average shares | 35,895 | 35,500 |
Basic | $0.51 | $0.36 |
Diluted | $0.48 | $0.33 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 648,000 | 302,000 |
ShareBased_Compensation_Summar
Share-Based Compensation - Summary of Share-Based Compensation Expense Related to Share-Based Awards (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total share-based compensation expenses | $4,258 | $3,462 |
Cost of software services, maintenance and subscriptions [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Share-based compensation expenses | 701 | 513 |
Selling, general and administrative expenses [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Share-based compensation expenses | $3,557 | $2,949 |
Segment_and_Related_Informatio2
Segment and Related Information - Additional Information (Detail) | Mar. 31, 2015 |
Business_Unit | |
Segment Reporting [Abstract] | |
Number of business units | 4 |
Segment_and_Related_Informatio3
Segment and Related Information - Schedule of Segment Revenues and Operations (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Software licenses and royalties | $14,300 | $11,232 |
Subscriptions | 25,288 | 20,507 |
Software services | 30,804 | 24,307 |
Maintenance | 57,348 | 50,240 |
Appraisal services | 6,089 | 4,851 |
Hardware and other | 1,137 | 1,489 |
Total revenues | 134,966 | 112,626 |
Segment operating income | 28,786 | 21,472 |
Operating segments [Member] | Enterprise Software Solutions [Member] | ||
Segment Reporting Information [Line Items] | ||
Software licenses and royalties | 12,327 | 10,795 |
Subscriptions | 24,309 | 19,722 |
Software services | 29,168 | 22,188 |
Maintenance | 53,014 | 46,093 |
Hardware and other | 1,138 | 1,489 |
Intercompany | 926 | 473 |
Total revenues | 120,882 | 100,760 |
Segment operating income | 32,254 | 25,428 |
Operating segments [Member] | Appraisal and Tax Software Solutions and Services [Member] | ||
Segment Reporting Information [Line Items] | ||
Software licenses and royalties | 1,973 | 437 |
Subscriptions | 979 | 785 |
Software services | 1,636 | 2,119 |
Maintenance | 4,334 | 4,147 |
Appraisal services | 6,089 | 4,851 |
Total revenues | 15,011 | 12,339 |
Segment operating income | 3,067 | 1,831 |
Corporate [Member] | ||
Segment Reporting Information [Line Items] | ||
Hardware and other | -1 | |
Intercompany | -926 | -473 |
Total revenues | -927 | -473 |
Segment operating income | ($6,535) | ($5,787) |
Segment_and_Related_Informatio4
Segment and Related Information - Reconciliation of Operating Income from Segments to Consolidated (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Total segment operating income | $28,786 | $21,472 |
Amortization of acquired software | -456 | -481 |
Amortization of customer and trade name intangibles | -1,152 | -1,129 |
Other income (expense), net | 181 | -259 |
Income before income taxes | 27,359 | 19,603 |
Segment Reconciling Items [Member] | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Amortization of acquired software | -456 | -481 |
Amortization of customer and trade name intangibles | -1,152 | -1,129 |
Other income (expense), net | $181 | ($259) |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) | Mar. 31, 2015 |
LegalMatter | |
Commitments And Contingencies Disclosure [Abstract] | |
Number of material legal proceedings pending | 0 |