Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'ctxs | ' | ' |
Entity Registrant Name | 'CITRIX SYSTEMS INC | ' | ' |
Entity Central Index Key | '0000877890 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 183,753,307 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $11,044,768,169 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $280,740 | $643,609 |
Short-term investments, available-for-sale | 453,976 | 285,022 |
Accounts receivable, net of allowances of $5,354 and $6,448 at December 31, 2013 and 2012, respectively | 654,821 | 630,956 |
Inventories, net | 14,107 | 10,723 |
Prepaid expenses and other current assets | 110,981 | 106,579 |
Current portion of deferred tax assets, net | 48,470 | 36,846 |
Total current assets | 1,563,095 | 1,713,735 |
Long-term investments, available-for-sale | 855,700 | 595,313 |
Property and equipment, net | 338,996 | 303,294 |
Goodwill | 1,768,949 | 1,518,219 |
Other intangible assets, net | 509,595 | 556,205 |
Long-term portion of deferred tax assets, net | 115,418 | 43,097 |
Other assets | 60,496 | 66,539 |
Total assets | 5,212,249 | 4,796,402 |
Current liabilities: | ' | ' |
Accounts payable | 78,452 | 71,116 |
Accrued expenses and other current liabilities | 257,606 | 257,135 |
Income taxes payable | 29,322 | 49,346 |
Current portion of deferred revenues | 1,098,681 | 965,276 |
Total current liabilities | 1,464,061 | 1,342,873 |
Long-term portion of deferred revenues | 313,059 | 232,719 |
Other liabilities | 115,322 | 99,033 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock at $.01 par value: 5,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock at $.001 par value: 1,000,000 shares authorized; 291,078 and 287,123 shares issued and outstanding at December 31, 2013 and 2012, respectively | 291 | 287 |
Additional paid-in capital | 3,974,297 | 3,691,111 |
Retained earnings | 2,903,541 | 2,564,018 |
Accumulated other comprehensive income (loss) | 4,951 | -7,705 |
Stockholders' equity before treasury stock | 6,883,080 | 6,247,711 |
Less - common stock in treasury, at cost (107,789 and 100,781 shares at December 31, 2013 and 2012, respectively) | -3,563,273 | -3,125,934 |
Total stockholders' equity | 3,319,807 | 3,121,777 |
Total liabilities and stockholders' equity | $5,212,249 | $4,796,402 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowances | $5,354 | $6,448 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 291,078,000 | 287,123,000 |
Common stock, shares outstanding | 291,078,000 | 287,123,000 |
Treasury Stock, Shares | 107,789,000 | 100,781,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenues: | ' | ' | ' | |||
Product and licenses | $891,630 | $830,645 | $744,513 | |||
Software as a service | 582,872 | 511,323 | 430,213 | |||
License updates and maintenance | 1,305,053 | 1,125,094 | 940,181 | |||
Professional services | 138,879 | 119,061 | 91,485 | |||
Total net revenues | 2,918,434 | 2,586,123 | 2,206,392 | |||
Cost of net revenues: | ' | ' | ' | |||
Cost of product and license revenues | 114,932 | 96,962 | 74,393 | |||
Cost of services and maintenance revenues | 289,990 | 227,150 | 164,465 | |||
Amortization of product related intangible assets | 97,873 | 80,025 | 54,741 | |||
Total cost of net revenues | 502,795 | 404,137 | 293,599 | |||
Gross margin | 2,415,639 | 2,181,986 | 1,912,793 | |||
Operating expenses: | ' | ' | ' | |||
Research and development | 516,338 | 450,571 | 380,674 | |||
Sales, marketing and services | 1,216,680 | 1,060,829 | 885,066 | |||
General and administrative | 260,236 | 245,259 | 213,673 | |||
Amortization of other intangible assets | 41,668 | 34,549 | 16,390 | |||
Restructuring | 0 | [1] | 0 | [1] | 24 | [1] |
Total operating expenses | 2,034,922 | 1,791,208 | 1,495,827 | |||
Income from operations | 380,717 | 390,778 | 416,966 | |||
Interest income | 8,194 | 10,152 | 13,819 | |||
Other (expense) income, net | -1,021 | 9,299 | -288 | |||
Income before income taxes | 387,890 | 410,229 | 430,497 | |||
Income taxes | 48,367 | 57,682 | 74,867 | |||
Consolidated net income | 339,523 | 352,547 | 355,630 | |||
Less: Net loss attributable to non-controlling interest | 0 | 0 | 692 | |||
Net income attributable to Citrix Systems, Inc. | $339,523 | $352,547 | $356,322 | |||
Net income per share attributable to Citrix Systems, Inc. stockholders: | ' | ' | ' | |||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic (in dollars per share) | $1.82 | $1.89 | $1.90 | |||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted (in dollars per share) | $1.80 | $1.86 | $1.87 | |||
Weighted average shares outstanding: | ' | ' | ' | |||
Basic (in shares) | 186,672 | 186,722 | 187,315 | |||
Diluted (in shares) | 188,245 | 189,129 | 190,641 | |||
[1] | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Consolidated net income | $339,523 | $352,547 | $355,630 |
Other comprehensive income (loss): | ' | ' | ' |
Change in foreign currency translation adjustment | 8,482 | 2,457 | -4,595 |
Available for sale securities: | ' | ' | ' |
Change in net unrealized gains | -985 | 3,603 | 293 |
Less: reclassification adjustment for net (gains) losses included in net income | -203 | -3,443 | 1,343 |
Net change (net of tax effect) | -1,188 | 160 | 1,636 |
Gain (loss) on pension liability | 2,500 | -3,925 | 634 |
Cash flow hedges: | ' | ' | ' |
Change in unrealized gains | -67 | -653 | -2,784 |
Less: reclassification adjustment for net losses (gains) included in net income | 2,929 | 5,817 | -8,475 |
Net change (net of tax effect) | 2,862 | 5,164 | -11,259 |
Other comprehensive income (loss) | 12,656 | 3,856 | -13,584 |
Comprehensive income | 352,179 | 356,403 | 342,046 |
Less: Comprehensive income attributable to non-controlling interest | 0 | 0 | -692 |
Comprehensive income attributable to Citrix Systems, Inc. | $352,179 | $356,403 | $341,354 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Common Stock | Additional Paid In Capital | Retained Earnings | Accumulated Other Comprehensive Income (loss) | Common Stock in Treasury | Non-Controlling Interest |
In Thousands, except Share data, unless otherwise specified | |||||||
Beginning balance at Dec. 31, 2010 | $2,560,588 | $278 | $3,112,186 | $1,855,149 | $2,023 | ($2,416,645) | $7,597 |
Beginning balance (in shares) at Dec. 31, 2010 | ' | 277,992,000 | ' | ' | ' | ' | ' |
Treasury Stock, Shares | ' | ' | ' | ' | ' | 96,960,000 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock-based compensation plans | 125,606 | 4 | 125,602 | 0 | 0 | 0 | 0 |
Shares issued under stock-based compensation plans (in shares) | ' | 4,472,000 | ' | ' | ' | 0 | ' |
Stock-based compensation expense | 89,422 | 0 | 89,422 | 0 | 0 | 0 | 0 |
Common stock issued under employee stock purchase plan | 21,099 | 1 | 21,098 | 0 | 0 | 0 | 0 |
Common stock issued under employee stock purchase plan (in shares) | ' | 310,000 | ' | ' | ' | 0 | ' |
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | 50,003 | 0 | 50,003 | 0 | 0 | 0 | 0 |
Stock repurchases, net | -424,849 | 0 | 0 | 0 | 0 | -424,849 | 0 |
Stock repurchases, net (in shares) | -6,275,470 | 0 | ' | ' | ' | -6,276,000 | ' |
Restricted shares turned in for tax withholding | -13,262 | 0 | 0 | 0 | 0 | -13,262 | 0 |
Restricted shares turned in for tax withholding (in shares) | -182,203 | 0 | ' | ' | ' | -182,000 | ' |
Purchase of non-controlling interest | -20,163 | 0 | -13,258 | 0 | 0 | 0 | -6,905 |
Other comprehensive loss, net of tax | -13,584 | 0 | 0 | 0 | -13,584 | 0 | 0 |
Net income | 355,630 | 0 | 0 | 356,322 | 0 | 0 | -692 |
Ending balance at Dec. 31, 2011 | 2,730,490 | 283 | 3,385,053 | 2,211,471 | -11,561 | -2,854,756 | 0 |
Ending balance (in shares) at Dec. 31, 2011 | ' | 282,774,000 | ' | ' | ' | ' | ' |
Treasury Stock, Shares | 100,781,000 | ' | ' | ' | ' | 100,781,000 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock-based compensation plans | 108,405 | 3 | 108,402 | 0 | 0 | 0 | 0 |
Shares issued under stock-based compensation plans (in shares) | ' | 3,983,000 | ' | ' | ' | 0 | ' |
Stock-based compensation expense | 145,967 | 0 | 145,967 | 0 | 0 | 0 | 0 |
Common stock issued under employee stock purchase plan | 24,889 | 1 | 24,888 | 0 | 0 | 0 | 0 |
Common stock issued under employee stock purchase plan (in shares) | ' | 366,000 | ' | ' | ' | 0 | ' |
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | 24,839 | 0 | 24,839 | 0 | 0 | 0 | 0 |
Stock repurchases, net | -251,008 | 0 | 0 | 0 | 0 | -251,008 | 0 |
Stock repurchases, net (in shares) | -3,550,817 | 0 | ' | ' | ' | -3,551,000 | ' |
Restricted shares turned in for tax withholding | -20,170 | 0 | 0 | 0 | 0 | -20,170 | 0 |
Restricted shares turned in for tax withholding (in shares) | -269,745 | 0 | ' | ' | ' | -270,000 | ' |
Other | 1,962 | 0 | 1,962 | 0 | 0 | 0 | 0 |
Other comprehensive loss, net of tax | 3,856 | 0 | 0 | 0 | 3,856 | 0 | 0 |
Net income | 352,547 | 0 | 0 | 352,547 | 0 | 0 | 0 |
Ending balance at Dec. 31, 2012 | 3,121,777 | 287 | 3,691,111 | 2,564,018 | -7,705 | -3,125,934 | 0 |
Ending balance (in shares) at Dec. 31, 2012 | ' | 287,123,000 | ' | ' | ' | ' | ' |
Treasury Stock, Shares | 107,789,000 | ' | ' | ' | ' | 107,789,000 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock-based compensation plans | 73,655 | 3 | 73,652 | 0 | 0 | 0 | 0 |
Shares issued under stock-based compensation plans (in shares) | ' | 3,545,000 | ' | ' | ' | 0 | ' |
Stock-based compensation expense | 179,098 | 0 | 179,098 | 0 | 0 | 0 | 0 |
Common stock issued under employee stock purchase plan | 30,145 | 1 | 30,144 | 0 | 0 | 0 | 0 |
Common stock issued under employee stock purchase plan (in shares) | ' | 410,000 | ' | ' | ' | 0 | ' |
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | -620 | 0 | -620 | 0 | 0 | 0 | 0 |
Stock repurchases, net | -406,326 | 0 | 0 | 0 | 0 | -406,326 | 0 |
Stock repurchases, net (in shares) | -6,563,986 | 0 | ' | ' | ' | -6,564,000 | ' |
Restricted shares turned in for tax withholding | -31,013 | 0 | 0 | 0 | 0 | -31,013 | 0 |
Restricted shares turned in for tax withholding (in shares) | -444,657 | 0 | ' | ' | ' | -444,000 | ' |
Other | 912 | 0 | 912 | 0 | 0 | 0 | 0 |
Other comprehensive loss, net of tax | 12,656 | 0 | 0 | 0 | 12,656 | 0 | 0 |
Net income | 339,523 | 0 | 0 | 339,523 | 0 | 0 | 0 |
Ending balance at Dec. 31, 2013 | $3,319,807 | $291 | $3,974,297 | $2,903,541 | $4,951 | ($3,563,273) | $0 |
Ending balance (in shares) at Dec. 31, 2013 | ' | 291,078,000 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Operating Activities | ' | ' | ' | |||
Net income | $339,523 | $352,547 | $355,630 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | |||
Amortization of intangible assets | 139,541 | [1] | 114,574 | [1] | 71,131 | [1] |
Depreciation and amortization of property and equipment | 127,959 | 100,299 | 88,124 | |||
Stock-based compensation expense | 183,941 | 149,940 | 92,909 | |||
(Gain) loss on investments | -2,441 | -14,477 | 1,343 | |||
Provision for doubtful accounts | 1,046 | 1,784 | 266 | |||
Provision for product returns | 4,473 | 10,743 | 5,541 | |||
Provision for inventory reserves | 1,905 | 1,022 | 1,570 | |||
Deferred income tax benefit | -51,848 | -70,791 | -16,229 | |||
Excess tax benefit from stock-based compensation, net | 8,129 | 24,839 | 50,003 | |||
Tax effect of stock-based compensation | -12,552 | -35,374 | -51,659 | |||
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies | 5,888 | 1,706 | 1,895 | |||
Other non-cash items | 434 | 1,178 | 4,733 | |||
Total adjustments to reconcile net income to net cash provided by operating activities | 406,475 | 285,443 | 249,627 | |||
Changes in operating assets and liabilities, net of the effects of acquisitions: | ' | ' | ' | |||
Accounts receivable | -22,951 | -107,628 | -95,481 | |||
Inventories | -5,591 | -2,024 | -3,097 | |||
Prepaid expenses and other current assets | -862 | -9,195 | 1,407 | |||
Other assets | 5,076 | -1,497 | -562 | |||
Income taxes, net | -35,316 | -4,408 | 25,180 | |||
Accounts payable | 3,092 | -426 | -11,758 | |||
Accrued expenses and other current liabilities | 22,515 | 45,135 | -20,996 | |||
Deferred revenues | 201,455 | 216,798 | 168,994 | |||
Other liabilities | 14,927 | 43,782 | 10,178 | |||
Total changes in operating assets and liabilities, net of the effects of acquisitions | 182,345 | 180,537 | 73,865 | |||
Net cash provided by operating activities | 928,343 | 818,527 | 679,122 | |||
Investing Activities | ' | ' | ' | |||
Purchases of available-for-sale investments | -1,703,976 | -1,435,367 | -1,360,677 | |||
Proceeds from sales of available-for-sale investments | 766,192 | 1,256,295 | 856,182 | |||
Proceeds from maturities of available-for-sale investments | 504,314 | 437,991 | 652,939 | |||
Proceeds from the sales of cost method investments | 12,067 | 24,252 | 0 | |||
Purchases of property and equipment | -162,889 | -122,958 | -111,932 | |||
Purchases of cost method investments | -6,824 | -6,622 | -16,879 | |||
Cash paid for acquisitions, net of cash acquired | -334,881 | -487,221 | -455,377 | |||
Cash paid for licensing agreements and product related intangible assets | -12,153 | -27,760 | -15,437 | |||
Other | 0 | 3,450 | 0 | |||
Net cash used in investing activities | -938,150 | -357,940 | -451,181 | |||
Financing Activities | ' | ' | ' | |||
Proceeds from issuance of common stock under stock-based compensation plans | 73,655 | 108,406 | 125,606 | |||
Repayment of acquired debt | -2,061 | -24,346 | -11,561 | |||
Excess tax benefit from stock-based compensation | 12,552 | 35,374 | 51,659 | |||
Purchase of non-controlling interest | 0 | 0 | -17,207 | |||
Stock repurchases, net | -406,326 | -251,008 | -424,849 | |||
Cash paid for tax withholding on vested stock awards | -31,013 | -20,170 | -13,262 | |||
Other | 912 | 1,962 | -3,000 | |||
Net cash used in financing activities | -352,281 | -149,782 | -292,614 | |||
Effect of exchange rate changes on cash and cash equivalents | -781 | -492 | 1,807 | |||
Change in cash and cash equivalents | -362,869 | 310,313 | -62,866 | |||
Cash and cash equivalents at beginning of period | 643,609 | 333,296 | 396,162 | |||
Cash and cash equivalents at end of period | 280,740 | 643,609 | 333,296 | |||
Supplemental Cash Flow Information | ' | ' | ' | |||
Cash paid for income taxes | 92,672 | 32,355 | 12,195 | |||
Cash paid for interest | $127 | $305 | $139 | |||
[1] | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. |
Organization
Organization | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
ORGANIZATION | ' |
ORGANIZATION | |
Citrix Systems, Inc. ("Citrix" or the "Company"), is a Delaware corporation founded on April 17, 1989. Citrix is a leader in virtualization, networking and cloud infrastructure to enable new ways for people to work better. Citrix solutions help IT and service providers to build, manage and secure virtual and mobile workspaces that seamlessly deliver apps, desktops, data and services to virtually anyone, on any device, over any network or cloud. | |
Citrix markets and licenses its products directly to customers, over the Web, and through systems integrators ("SIs"), in addition to indirectly through value-added resellers ("VARs"), value-added distributors ("VADs"), original equipment manufacturers ("OEMs"), and service providers. | |
The Company’s revenues are derived from its Enterprise and Service Provider products, which primarily include its Mobile and Desktop products, Networking and Cloud products and related license updates and maintenance and professional services and from its Software as a Service ("SaaS") products, which primarily include Collaboration and Data Sharing, Remote Access and Remote IT Support products. Enterprise and Service Provider (formerly Infrastructure division) and SaaS constitute the Company's two reportable segments. See Note 11 for more information on the Company's segments. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||||||||||||||||||
SIGNIFICANT ACCOUNTING POLICIES | ' | |||||||||||||||||||||||||||||||
SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||||||||||||||||||||
Consolidation Policy | ||||||||||||||||||||||||||||||||
The consolidated financial statements of the Company include the accounts of its wholly-owned subsidiaries in the Americas, Europe, the Middle East and Africa (“EMEA”), Asia-Pacific and the SaaS division. All significant transactions and balances between the Company and its subsidiaries have been eliminated in consolidation. | ||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||||||||
Cash and cash equivalents at December 31, 2013 and 2012 include marketable securities, which are primarily money market funds, commercial paper, agency, and government securities, municipal securities and corporate securities with initial or remaining contractual maturities when purchased of three months or less. | ||||||||||||||||||||||||||||||||
Investments | ||||||||||||||||||||||||||||||||
Short-term and long-term investments at December 31, 2013 and 2012 primarily consist of agency securities, corporate securities, municipal securities and government securities. Investments classified as available-for-sale are stated at fair value with unrealized gains and losses, net of taxes, reported in Accumulated other comprehensive income (loss). The Company classifies its available-for-sale investments as current and non-current based on their actual remaining time to maturity. The Company does not recognize changes in the fair value of its available-for-sale investments in income unless a decline in value is considered other-than-temporary in accordance with the authoritative guidance. | ||||||||||||||||||||||||||||||||
The Company’s investment policy is designed to limit exposure to any one issuer depending on credit quality. The Company uses information provided by third parties to adjust the carrying value of certain of its investments to fair value at the end of each period. Fair values are based on a variety of inputs and may include interest rates, known historical trades, yield curve information, benchmark data, prepayment speeds, credit quality and broker/dealer quotes. | ||||||||||||||||||||||||||||||||
Accounts Receivable | ||||||||||||||||||||||||||||||||
The Company’s accounts receivable are attributable primarily to VARs, VADs and end customers. Collateral is generally not required. The Company also maintains allowances for doubtful accounts for estimated losses resulting from the inability of the Company’s customers to make payments. The Company periodically reviews these estimated allowances, including by conducting an analysis of the customer's payment history and creditworthiness, the age of the trade receivable balances and current economic conditions that may affect a customer’s ability to make payments. Based on this review, the Company specifically reserves for those accounts deemed uncollectible. When receivables are determined to be uncollectible, principal amounts of such receivables outstanding are deducted from the allowance. The allowance for doubtful accounts was $3.3 million and $3.8 million as of December 31, 2013 and 2012, respectively. If the financial condition of a significant distributor or customer were to deteriorate, the Company’s operating results could be adversely affected. One distributor, Ingram Micro, accounted for 10% and 11% of gross accounts receivable at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||||
Inventory | ||||||||||||||||||||||||||||||||
Inventories are stated at the lower of cost or market on a standard cost basis, which approximates actual cost. The Company’s inventories primarily consist of finished goods as of December 31, 2013 and 2012. | ||||||||||||||||||||||||||||||||
Property and Equipment | ||||||||||||||||||||||||||||||||
Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which is generally three years for computer equipment and software, the lesser of the lease term or ten years for leasehold improvements, which is the estimated useful life, seven years for office equipment and furniture and the Company’s enterprise resource planning system and 40 years for buildings. | ||||||||||||||||||||||||||||||||
During 2013 and 2012, the Company retired $10.3 million and $5.3 million, respectively, in property and equipment that were no longer in use. At the time of retirement, the remaining net book value of these assets was not material and no material asset retirement obligations were associated with them. | ||||||||||||||||||||||||||||||||
Property and equipment consist of the following: | ||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Buildings | $ | 85,092 | $ | 76,202 | ||||||||||||||||||||||||||||
Computer equipment | 204,110 | 178,948 | ||||||||||||||||||||||||||||||
Software | 316,902 | 259,225 | ||||||||||||||||||||||||||||||
Equipment and furniture | 105,145 | 86,362 | ||||||||||||||||||||||||||||||
Leasehold improvements | 168,990 | 149,731 | ||||||||||||||||||||||||||||||
880,239 | 750,468 | |||||||||||||||||||||||||||||||
Less accumulated depreciation and amortization | (597,268 | ) | (479,460 | ) | ||||||||||||||||||||||||||||
Assets under construction | 28,438 | 15,517 | ||||||||||||||||||||||||||||||
Land | 27,587 | 16,769 | ||||||||||||||||||||||||||||||
Total | $ | 338,996 | $ | 303,294 | ||||||||||||||||||||||||||||
Long-Lived Assets | ||||||||||||||||||||||||||||||||
The Company reviews for impairment of long-lived assets and certain identifiable intangible assets to be held and used whenever events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss is based on the fair value of the asset compared to its carrying value. Long-lived assets and certain identifiable intangible assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2012, the Company decided to contribute its CloudStack tradename acquired in conjunction with its acquisition of Cloud.com to the Apache Software Foundation. As a result, the carrying value of the CloudStack tradename was written down to zero, resulting in a $5.2 million impairment, which was recorded in Amortization of other intangible assets in the accompanying consolidated statements of income. During 2013 and 2011, the Company did not recognize any impairment charges associated with its intangible assets. | ||||||||||||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||||||||||
The Company accounts for goodwill in accordance with the authoritative guidance, which requires that goodwill and certain intangible assets are not amortized, but are subject to an annual impairment test. There was no impairment of goodwill or indefinite lived intangible assets as a result of the annual impairment tests analyses completed during the fourth quarters of 2013 and 2012, respectively. The authoritative guidance provides entities with an option to perform a qualitative assessment to determine whether further quantitative impairment testing is necessary. The Company performed the qualitative assessment when it performed its goodwill impairment test in the fourth quarter of 2013. As a result of the qualitative analysis, no further quantitative impairment test was deemed necessary. See Note 3 for acquisitions and Note 11 for segment information. | ||||||||||||||||||||||||||||||||
The following table presents the change in goodwill allocated to the Company’s reportable segments during 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||||||
Balance at January 1, 2013 | Additions | Other | Balance at December 31, 2013 | Balance at January 1, 2012 | Additions | Other | Balance at December 31, 2012 | |||||||||||||||||||||||||
Enterprise and Service Provider division | $ | 1,158,580 | $ | 248,800 | $ | (5,224 | ) | -2 | $ | 1,402,156 | $ | 956,504 | $ | 257,379 | $ | (55,303 | ) | -4 | $ | 1,158,580 | ||||||||||||
SaaS division | 359,639 | 2,668 | 4,486 | -3 | 366,793 | 282,616 | 26,481 | 50,542 | -4 | 359,639 | ||||||||||||||||||||||
Consolidated | $ | 1,518,219 | $ | 251,468 | -1 | $ | (738 | ) | $ | 1,768,949 | $ | 1,239,120 | $ | 283,860 | -1 | $ | (4,761 | ) | $ | 1,518,219 | ||||||||||||
(1) | Amount primarily relates to acquisitions. See Note 3 for more information regarding the Company’s acquisitions. | |||||||||||||||||||||||||||||||
(2) | Amount primarily relates to adjustments to the preliminary purchase price allocation for certain 2012 Acquisitions. | |||||||||||||||||||||||||||||||
(3) | Amount primarily relates to foreign currency translation. | |||||||||||||||||||||||||||||||
(4) | Amount primarily relates to reclassification of goodwill between segments. In the first quarter of 2012, the Company transferred the business acquired in its acquisition of Novell Labs, Inc. (d/b/a "ShareFile") from its Enterprise and Service Provider division to its SaaS division. Also included in the SaaS division is foreign currency translation. | |||||||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||||||||
The Company has intangible assets which were primarily acquired in conjunction with business combinations and technology purchases. Intangible assets with finite lives are recorded at cost, less accumulated amortization. Amortization is recognized on a straight-line basis over the estimated useful lives of the respective assets, generally three to seven years, except for patents, which are amortized over the lesser of their remaining life or ten years. In accordance with the authoritative guidance, the Company records acquired product related intangible assets at net realizable value and reviews this technology for impairment on a periodic basis by comparing the estimated net realizable value to the unamortized cost of the technology. In-process R&D is initially capitalized at fair value as an intangible asset with an indefinite life and assessed for impairment thereafter. When in-process R&D projects are completed, the corresponding amount is reclassified as an amortizable purchased intangible asset and is amortized over the asset's estimated useful life. | ||||||||||||||||||||||||||||||||
Intangible assets consist of the following (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Gross Carrying | Accumulated | Weighted-Average Life (Years) | ||||||||||||||||||||||||||||||
Amount | Amortization | |||||||||||||||||||||||||||||||
Product related intangible assets | $ | 677,509 | $ | 428,418 | 5.6 | |||||||||||||||||||||||||||
Other | 482,918 | 222,414 | 7.52 | |||||||||||||||||||||||||||||
Total | $ | 1,160,427 | $ | 650,832 | 6.38 | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Gross Carrying | Accumulated | Weighted-Average Life (Years) | ||||||||||||||||||||||||||||||
Amount | Amortization | |||||||||||||||||||||||||||||||
Product related intangible assets | $ | 620,032 | $ | 339,608 | 5.6 | |||||||||||||||||||||||||||
Other | 446,601 | 170,820 | 7.28 | |||||||||||||||||||||||||||||
Total | $ | 1,066,633 | $ | 510,428 | 6.29 | |||||||||||||||||||||||||||
Other intangible assets consist primarily of customer relationships, trade names, covenants not to compete and patents. Amortization of product related intangible assets includes amortization of product related technologies and patents and is reported as a Cost of net revenues in the accompanying consolidated statements of income. Amortization of other intangible assets includes amortization of customer relationships, trade names and covenants not to compete and is reported as an Operating expense in the accompanying consolidated statements of income. The Company monitors its intangible assets for indicators of impairment. If the Company determines an impairment has occurred, it will write-down the intangible asset to its fair value. There were no impairments for the year ended December 31, 2013. For the year ended December 31, 2012, Amortization of other intangible assets includes a $5.2 million impairment related to the Company's decision to contribute its CloudStack tradename acquired in conjunction with its acquisition of Cloud.com to the Apache Software Foundation. As a result, the carrying value of the CloudStack tradename was written down to zero. See Note 3 for more information regarding the Company's acquisitions. | ||||||||||||||||||||||||||||||||
Estimated future annual amortization expense is as follows (in thousands): | ||||||||||||||||||||||||||||||||
Year ending December 31, | ||||||||||||||||||||||||||||||||
2014 | $ | 132,956 | ||||||||||||||||||||||||||||||
2015 | 111,016 | |||||||||||||||||||||||||||||||
2016 | 88,749 | |||||||||||||||||||||||||||||||
2017 | 61,057 | |||||||||||||||||||||||||||||||
2018 | 47,618 | |||||||||||||||||||||||||||||||
Software Development Costs | ||||||||||||||||||||||||||||||||
The authoritative guidance requires certain internal software development costs related to software to be sold to be capitalized upon the establishment of technological feasibility. The Company's software development costs incurred subsequent to achieving technological feasibility have not been significant and substantially all software development costs have been expensed as incurred. | ||||||||||||||||||||||||||||||||
Internal Use Software | ||||||||||||||||||||||||||||||||
In accordance with the authoritative guidance, the Company capitalizes external direct costs of materials and services and internal costs such as payroll and benefits of those employees directly associated with the development of new functionality in internal use software and software developed related to its software as a service (“SaaS”) offerings. The amount of costs capitalized in 2013 and 2012 relating to internal use software was $62.7 million and $51.5 million, respectively. These costs are being amortized over the estimated useful life of the software, which is generally three to seven years, and are included in property and equipment in the accompanying consolidated balance sheets. The total amounts charged to expense relating to internal use software was approximately $58.6 million, $44.5 million and $37.2 million, during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||
Revenue Recognition | ||||||||||||||||||||||||||||||||
Net revenues include the following categories: Product and licenses, Software as a service, License updates and maintenance and Professional services. Product and licenses revenues primarily represent fees related to the licensing of the Company’s software and hardware appliance products. These revenues are reflected net of sales allowances, cooperative advertising agreements, partner incentive programs and provisions for returns. Shipping charges billed to customers are included in Product and license revenue and the related shipping costs are included in Cost of product and license revenue. SaaS revenues consist primarily of fees related to online service agreements, which are recognized ratably over the contract term, which is typically 12 months. In addition, SaaS revenues may also include set-up fees, which are recognized ratably over the contract term or the expected customer life, whichever is longer. License updates and maintenance revenues consist of fees related to the Subscription Advantage program and maintenance fees, which include technical support and hardware and software maintenance. The Company licenses many of its virtualization products bundled with a one-year contract for its Subscription Advantage program. Subscription Advantage is a renewable program that provides subscribers with immediate access to software upgrades, enhancements and maintenance releases when and if they become available during the term of the contract. Subscription Advantage and maintenance fees are recognized ratably over the term of the contract, which is typically 12 to 24 months. The Company capitalizes certain third-party commissions related to Subscription Advantage renewals. The capitalized commissions are amortized to Sales, marketing and services expense at the time the related deferred revenue is recognized as revenue. Hardware and software maintenance and support contracts are typically sold separately. Hardware maintenance includes technical support, the latest software upgrades and replacement of malfunctioning appliances. Dedicated account management is available as an add-on to the program for a higher level of service. Software maintenance includes unlimited support with product version upgrades. Professional services revenues are comprised of fees from consulting services related to the implementation of the Company’s products and fees from product training and certification, which are recognized as the services are provided. | ||||||||||||||||||||||||||||||||
The Company recognizes revenue when it is earned and when all of the following criteria are met: persuasive evidence of the arrangement exists; delivery has occurred or the service has been provided and the Company has no remaining obligations; the fee is fixed or determinable; and collectability is probable. The Company defines these four criteria as follows: | ||||||||||||||||||||||||||||||||
• | Persuasive evidence of the arrangement exists. The Company primarily sells its software products via electronic licenses and typically requires a purchase order from the distributor, reseller or end-user (depending on the arrangement) who have previously negotiated a master distribution or resale agreement and an executed product license agreement from the end-user. For appliance sales, it is the Company’s customary practice to require a purchase order from distributors and resellers who have previously negotiated a master packaged product distribution or resale agreement. The Company typically recognizes revenue upon shipment for its appliance sales. For maintenance, technical support, product training and consulting services, the Company requires a purchase order and an executed agreement. For SaaS, the Company generally requires the customer or the reseller to electronically accept the terms of an online services agreement or execute a contract. | |||||||||||||||||||||||||||||||
• | Delivery has occurred and the Company has no remaining obligations. The Company considers delivery of licenses under electronic licensing agreements to have occurred when the related products are shipped and the end-user has been electronically provided the software activation keys that allow the end-user to take immediate possession of the product. For hardware appliance sales, the Company’s standard delivery method is free-on-board shipping point. Consequently, it considers delivery of appliances to have occurred when they are shipped pursuant to an agreement and purchase order. For SaaS, delivery occurs upon providing the users with their login id and password. For product training and consulting services, the Company fulfills its obligation when the services are performed. For license updates and maintenance, the Company assumes that its obligation is satisfied ratably over the respective terms of the agreements, which are typically 12 to 24 months. For SaaS, the Company assumes that its obligation is satisfied ratably over the respective terms of the agreements, which are typically 12 months. | |||||||||||||||||||||||||||||||
• | The fee is fixed or determinable. In the normal course of business, the Company does not provide customers the right to a refund of any portion of their license fees or extended payment terms. The fees are considered fixed or determinable upon establishment of an arrangement that contains the final terms of the sale including description, quantity and price of each product or service purchased. For SaaS, the fee is considered fixed or determinable if it is not subject to refund or adjustment. | |||||||||||||||||||||||||||||||
• | Collectability is probable. The Company determines collectability on a customer-by-customer basis and generally does not require collateral. The Company typically sells product licenses and license updates to distributors or resellers for whom there are histories of successful collection. New customers are typically subject to a credit review process that evaluates their financial position and ultimately their ability to pay. Customers are also subject to an ongoing credit review process. If the Company determines from the outset of an arrangement that collectability is not probable, revenue recognition is deferred until customer payment is received and the other parameters of revenue recognition described above have been achieved. Management’s judgment is required in assessing the probability of collection, which is generally based on an evaluation of customer specific information, historical experience and economic market conditions. | |||||||||||||||||||||||||||||||
The majority of the Company’s product and license revenue consists of revenue from the sale of stand-alone software products. Stand-alone software sales generally include a perpetual license to the Company’s software and is subject to the industry specific software revenue recognition guidance. In accordance with this guidance, the Company allocates revenue to license updates related to its stand-alone software and any other undelivered elements of the arrangement based on vendor specific objective evidence (“VSOE”) of fair value of each element and such amounts are deferred until the applicable delivery criteria and other revenue recognition criteria described above have been met. The balance of the revenues, net of any discounts inherent in the arrangement, is recognized at the outset of the arrangement using the residual method as the product licenses are delivered. If management cannot objectively determine the fair value of each undelivered element based on VSOE of fair value, revenue recognition is deferred until all elements are delivered, all services have been performed, or until fair value can be objectively determined. | ||||||||||||||||||||||||||||||||
For hardware appliance and software transactions, the arrangement consideration is allocated to stand-alone software deliverables as a group and the non-software deliverables based on the relative selling prices using the selling price hierarchy in the revenue recognition guidance. The selling price hierarchy for a deliverable is based on its VSOE if available, third-party evidence of selling price ("TPE") if VSOE is not available, or estimated selling price ("ESP") if neither VSOE nor TPE is available. The Company then recognizes revenue on each deliverable in accordance with its policies for product and service revenue recognition. VSOE of selling price is based on the price charged when the element is sold separately. In determining VSOE, the Company requires that a substantial majority of the selling prices fall within a reasonable range based on historical discounting trends for specific products and services. TPE of selling price is established by evaluating competitor products or services in stand-alone sales to similarly situated customers. However, as the Company’s products contain a significant element of proprietary technology and its solutions offer substantially different features and functionality, the comparable pricing of products with similar functionality typically cannot be obtained. Additionally, as the Company is unable to reliably determine what competitors products’ selling prices are on a stand-alone basis, the Company is not typically able to determine TPE. The estimate of selling price is established considering multiple factors including, but not limited to, pricing practices in different geographies and through different sales channels and competitor pricing strategies. | ||||||||||||||||||||||||||||||||
For the Company’s non-software transactions, it allocates the arrangement consideration based on the relative selling price of the deliverables. For the Company’s hardware appliances, it uses ESP as its selling price. For the Company’s support and services, it generally uses VSOE as its selling price. When the Company is unable to establish selling price using VSOE for its support and services, the Company uses ESP in its allocation of arrangement consideration. | ||||||||||||||||||||||||||||||||
The Company’s SaaS products are considered service arrangements per the authoritative guidance; accordingly, the Company follows the provisions of Securities and Exchange Commission Staff Accounting Bulletin (“SAB”) No. 104, Revenue Recognition, when accounting for these service arrangements. Generally, the Company’s SaaS products are sold separately and not bundled with the Enterprise and Service Provider division’s products and services. | ||||||||||||||||||||||||||||||||
In the normal course of business, the Company is not obligated to accept product returns from its distributors under any conditions, unless the product item is defective in manufacture. The Company establishes provisions for estimated returns, as well as other sales allowances, concurrently with the recognition of revenue. The provisions are established based upon consideration of a variety of factors, including, among other things, recent and historical return rates for both specific products and distributors and the impact of any new product releases and projected economic conditions. Product returns are provided for in the consolidated financial statements and have historically been within management’s expectations. Allowances for estimated product returns amounted to approximately $2.1 million and $2.6 million at December 31, 2013 and December 31, 2012, respectively. The Company also records estimated reductions to revenue for customer programs and incentive offerings including volume-based incentives. The Company could take actions to increase its customer incentive offerings, which could result in an incremental reduction to revenue at the time the incentive is offered. | ||||||||||||||||||||||||||||||||
Product Concentration | ||||||||||||||||||||||||||||||||
The Company derives a substantial portion of its revenues from its Mobile and Desktop products, which include its XenDesktop and XenApp products and related services, and anticipates that these products and future derivative products and product lines based upon this technology will continue to constitute a majority of its revenue. The Company could experience declines in demand for its Mobile and Desktop products and other products, whether as a result of general economic conditions, the delay or reduction in technology purchases, new competitive product releases, price competition, lack of success of its strategic partners, technological change or other factors. | ||||||||||||||||||||||||||||||||
Cost of Net Revenues | ||||||||||||||||||||||||||||||||
Cost of product and license revenues consists primarily of hardware, product media and duplication, manuals, packaging materials, shipping expense, server capacity costs. In addition, the Company is a party to licensing agreements with various entities, which give the Company the right to use certain software code in its products or in the development of future products in exchange for the payment of fixed fees or amounts based upon the sales of the related product. The licensing agreements generally have terms ranging from one to five years, and generally include renewal options. However, some agreements are perpetual unless expressly terminated. Royalties and other costs related to these agreements are included in cost of net revenues. Cost of services and maintenance revenue consists primarily of compensation and other personnel-related costs of providing technical support and consulting, as well as the Company’s SaaS. Also included in cost of net revenues is amortization of product related intangible assets which includes acquired core and product technology and associated patents. | ||||||||||||||||||||||||||||||||
Foreign Currency | ||||||||||||||||||||||||||||||||
The functional currency for all of the Company’s wholly-owned foreign subsidiaries in its Enterprise and Service Provider division is the U.S. dollar. Monetary assets and liabilities of such subsidiaries are remeasured into U.S. dollars at exchange rates in effect at the balance sheet date, and revenues and expenses are remeasured at average rates prevailing during the year. The functional currency of the Company’s wholly-owned foreign subsidiaries of its SaaS division is the currency of the country in which each subsidiary is located. The Company translates assets and liabilities of these foreign subsidiaries at exchange rates in effect at the balance sheet date. The Company includes accumulated net translation adjustments in equity as a component of Accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are the result of exchange rate changes on transactions denominated in currencies other than the functional currency, including U.S. dollars. The remeasurement of those foreign currency transactions is included in determining net income or loss for the period of exchange. Remeasurement and foreign currency transaction (losses) gains of approximately $(4.9) million, $(3.3) million and $4.7 million for the years ended December 31, 2013, 2012, and 2011, respectively, are included in Other (expense) income, net, in the accompanying consolidated statements of income. | ||||||||||||||||||||||||||||||||
Derivatives and Hedging Activities | ||||||||||||||||||||||||||||||||
In accordance with the authoritative guidance, the Company records derivatives at fair value as either assets or liabilities on the balance sheet. For derivatives that are designated as and qualify as effective cash flow hedges, the portion of gain or loss on the derivative instrument effective at offsetting changes in the hedged item is reported as a component of Accumulated other comprehensive income (loss) and reclassified into earnings as operating expense, net, when the hedged transaction affects earnings. Derivatives not designated as hedging instruments are adjusted to fair value through earnings as Other (expense) income, net, in the period during which changes in fair value occur. The application of the authoritative guidance could impact the volatility of earnings. | ||||||||||||||||||||||||||||||||
The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes attributing all derivatives that are designated as cash flow hedges to floating rate assets or liabilities or forecasted transactions. The Company also formally assesses, both at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in offsetting changes in cash flows of the hedged item. Fluctuations in the value of the derivative instruments are generally offset by changes in the hedged item; however, if it is determined that a derivative is not highly effective as a hedge or if a derivative ceases to be a highly effective hedge, the Company will discontinue hedge accounting prospectively for the affected derivative. | ||||||||||||||||||||||||||||||||
The Company is exposed to risk of default by its hedging counterparties. Although this risk is concentrated among a limited number of counterparties, the Company’s foreign exchange hedging policy attempts to minimize this risk by placing limits on the amount of exposure that may exist with any single financial institution at a time. | ||||||||||||||||||||||||||||||||
Pension Liability | ||||||||||||||||||||||||||||||||
The Company provides retirement benefits to certain employees who are not U.S. based. Generally, benefits under these programs are based on an employee’s length of service and level of compensation. The majority of these programs are commonly referred to as termination indemnities, which provide retirement benefits in accordance with programs mandated by the governments of the countries in which such employees work. | ||||||||||||||||||||||||||||||||
The Company had accrued $9.2 million and $9.8 million for these pension liabilities at December 31, 2013 and 2012, respectively. Expenses for the programs for 2013, 2012 and 2011 amounted to $3.5 million, $1.5 million and $1.8 million, respectively. | ||||||||||||||||||||||||||||||||
Advertising Costs | ||||||||||||||||||||||||||||||||
The Company expenses advertising costs as incurred. The Company has advertising agreements with, and purchases advertising from, online media providers to advertise its SaaS. The Company also has cooperative advertising agreements with certain distributors and resellers whereby the Company will reimburse distributors and resellers for qualified advertising of Company products. Reimbursement is made once the distributor, reseller or provider provides substantiation of qualified expenses. The Company estimates the impact of these expenses and recognizes them at the time of product sales as a reduction of net revenue in the accompanying consolidated statements of income. The total costs the Company recognized related to advertising were approximately $146.5 million, $137.5 million and $130.8 million, during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||||||||
The Company and one or more of its subsidiaries is subject to United States federal income taxes, as well as income taxes of multiple state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years prior to 2009. | ||||||||||||||||||||||||||||||||
In the ordinary course of global business, there are transactions for which the ultimate tax outcome is uncertain; thus, judgment is required in determining the worldwide provision for income taxes. The Company provides for income taxes on transactions based on its estimate of the probable liability. The Company adjusts its provision as appropriate for changes that impact its underlying judgments. Changes that impact provision estimates include such items as jurisdictional interpretations on tax filing positions based on the results of tax audits and general tax authority rulings. Due to the evolving nature of tax rules combined with the large number of jurisdictions in which the Company operates, estimates of its tax liability and the realizability of its deferred tax assets could change in the future, which may result in additional tax liabilities and adversely affect the Company’s results of operations, financial condition and cash flows. | ||||||||||||||||||||||||||||||||
The Company is required to estimate its income taxes in each of the jurisdictions in which it operates as part of the process of preparing its consolidated financial statements. The authoritative guidance requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company reviews deferred tax assets periodically for recoverability and makes estimates and judgments regarding the expected geographic sources of taxable income and gains from investments, as well as tax planning strategies in assessing the need for a valuation allowance. | ||||||||||||||||||||||||||||||||
Use of Estimates | ||||||||||||||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates made by management include the provision for doubtful accounts receivable, the provision to reduce obsolete or excess inventory to market, the provision for estimated returns, as well as sales allowances, the assumptions used in the valuation of stock-based awards, the assumptions used in the discounted cash flows to mark certain of its investments to market, the valuation of the Company’s goodwill, net realizable value of product related and other intangible assets, the provision for vacant facility costs, the provision for income taxes and the amortization and depreciation periods for intangible and long-lived assets. While the Company believes that such estimates are fair when considered in conjunction with the consolidated financial position and results of operations taken as a whole, the actual amounts of such items, when known, will vary from these estimates. | ||||||||||||||||||||||||||||||||
Accounting for Stock-Based Compensation Plans | ||||||||||||||||||||||||||||||||
The Company has various stock-based compensation plans for its employees and outside directors and accounts for stock-based compensation arrangements in accordance with the authoritative guidance, which requires the Company to measure and record compensation expense in its consolidated financial statements using a fair value method. See Note 7 for further information regarding the Company’s stock-based compensation plans. | ||||||||||||||||||||||||||||||||
Net Income Per Share Attributable to Citrix Systems, Inc. Stockholders | ||||||||||||||||||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic is calculated by dividing income available to stockholders by the weighted-average number of common shares outstanding during each period. Net income per share attributable to Citrix Systems, Inc. stockholders - diluted is computed using the weighted-average number of common and dilutive common share equivalents outstanding during the period. Dilutive common share equivalents consist of shares issuable upon the vesting or exercise of stock awards (calculated using the treasury stock method) during the period they were outstanding. Certain shares under the Company’s stock-based compensation programs were excluded from the computation of diluted earnings per share due to their anti-dilutive effect for the respective periods in which they were outstanding. The reconciliation of the numerator and denominator of the earnings per share calculation is presented in Note 13. | ||||||||||||||||||||||||||||||||
Reclassifications | ||||||||||||||||||||||||||||||||
Certain reclassifications of the prior years' amounts have been made to conform to the current year's presentation. In the Property and Equipment table above, the Company determined it was more practical to present Assets under construction on a separate line as opposed to including the amounts within each asset class. Therefore, the reclassifications only resulted in changes to the amounts between asset classes. |
Acquisitions
Acquisitions | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combination, Description [Abstract] | ' | |||||||||||
ACQUISITIONS | ' | |||||||||||
ACQUISITIONS | ||||||||||||
2013 Acquisitions | ||||||||||||
Zenprise | ||||||||||||
In January 2013, the Company acquired all of the issued and outstanding securities of Zenprise, Inc. ("Zenprise"), a | ||||||||||||
privately-held leader in mobile device management. Zenprise became part of the Company's Enterprise and Service Provider division, in which Citrix has integrated the Zenprise offering for mobile device management into its XenMobile Enterprise edition. The total consideration for this transaction was approximately $324.0 million, net of $2.9 million of cash acquired, and was paid in cash. Transaction costs associated with the acquisition were approximately $0.6 million, of which the Company expensed approximately $0.1 million during the year ended December 31, 2013 and are included in General and administrative expense in the accompanying consolidated statements of income. In addition, in connection with the acquisition, the Company assumed certain stock options, which are exercisable for up to 285,817 shares of the Company's common stock, for which the vesting period reset fully upon the closing of the transaction. | ||||||||||||
2013 Other Acquisitions | ||||||||||||
During the third quarter of 2013, the Company acquired all of the issued and outstanding securities of a privately-held company. The total cash consideration for this transaction was approximately $5.3 million. The Company will pay contingent consideration of up to $3.0 million in cash upon the satisfaction of certain milestone achievements, as defined pursuant to the share purchase agreement. This business became part of the Company's SaaS division. Transaction costs associated with the acquisition were approximately $0.2 million, all of which the Company expensed during the year ended December 31, 2013, and are included in General and administrative expense in the accompanying consolidated statements of income. | ||||||||||||
During the fourth quarter of 2013, the Company acquired all of the issued and outstanding securities of a privately-held company. The total cash consideration for this transaction was approximately $5.5 million. This business became part of the Company's Enterprise and Service Provider division. Transaction costs associated with the acquisition were approximately $0.2 million, all of which the Company expensed during the year ended December 31, 2013, and are included in General and administrative expense in the accompanying consolidated statements of income. | ||||||||||||
The two acquisitions discussed in this section captioned 2013 Other Acquisitions will collectively be referred to herein as the "2013 Other Acquisitions". | ||||||||||||
Purchase Accounting for the Acquisitions in 2013 | ||||||||||||
The purchase prices for the companies acquired during the year ended December 31, 2013, which include Zenprise and the 2013 Other Acquisitions (collectively, the "2013 Acquisitions"), were allocated to the acquired net tangible and intangible assets based on estimated fair values as of the date of the acquisition. The allocation of the total purchase prices are summarized below (in thousands): | ||||||||||||
Zenprise | 2013 Other Acquisitions | |||||||||||
Purchase Price Allocation | Asset Life | Purchase Price Allocation | Asset Life | |||||||||
Current assets | $ | 10,943 | $ | 3,586 | ||||||||
Other assets | 668 | — | ||||||||||
Property and equipment | 431 | Various | — | |||||||||
Deferred tax assets, non-current | 38,785 | 3,177 | ||||||||||
Intangible assets | 69,200 | 1-7 years | 11,300 | 5-6 years | ||||||||
Goodwill | 247,273 | Indefinite | 4,195 | Indefinite | ||||||||
Assets acquired | 367,300 | 22,258 | ||||||||||
Current liabilities assumed | (8,475 | ) | (3,950 | ) | ||||||||
Deferred tax liabilities, current | — | (2,000 | ) | |||||||||
Long-term liabilities assumed | (3,107 | ) | (1,000 | ) | ||||||||
Deferred tax liabilities, non-current | (28,725 | ) | (1,699 | ) | ||||||||
Net assets acquired | $ | 326,993 | $ | 13,609 | ||||||||
Current assets acquired in connection with the 2013 Acquisitions consisted primarily of cash and accounts receivable. Current liabilities assumed in connection with the 2013 Acquisitions consisted primarily of current portion of deferred revenues, short-term payables, other accrued expenses and short-term debt, which was paid in full subsequent to the respective acquisition date. Long-term liabilities assumed in connection with the 2013 Acquisitions consisted of other long-term liabilities and long-term portion of deferred revenues. | ||||||||||||
The Company continues to evaluate certain income tax assets and liabilities related to the 2013 Other Acquisitions. Goodwill from the 2013 Acquisitions was assigned to the respective segments each businesses became part of. The goodwill related to the 2013 Acquisitions is not deductible for tax purposes. See Note 11 for segment information. The goodwill amounts are comprised primarily of expected synergies from combining operations and other intangible assets that do not qualify for separate recognition. | ||||||||||||
Revenues from the 2013 Acquisitions are included in the revenues of each business's respective segment. The Company has included the effect of the 2013 Acquisitions in its results of operations prospectively from the date of acquisition. | ||||||||||||
Identifiable intangible assets acquired in connection with the 2013 Acquisitions (in thousands) and the weighted-average lives are as follows: | ||||||||||||
Zenprise | Asset Life | 2013 Other Acquisitions | Asset Life | |||||||||
Trade names | $ | 2,400 | 3.0 years | $ | — | |||||||
Non-compete agreements | 700 | 1.0 year | — | |||||||||
Customer relationships | 18,300 | 7.0 years | 3,600 | 6.0 years | ||||||||
Core and product technologies | 47,800 | 6.0 years | 6,300 | 5.0 years | ||||||||
In-process R&D (1) | — | 1,400 | Indefinite | |||||||||
Total | $ | 69,200 | $ | 11,300 | ||||||||
(1) Capitalized acquired in-process R&D costs will remain capitalized until such time as the projects are complete, at which point they will be amortized, or they will be written off when it is probable the projects will not be completed. | ||||||||||||
The following unaudited pro-forma information combines the consolidated results of the operations of the Company and the 2013 Acquisitions as if the acquisitions had occurred at the beginning of fiscal year 2012 (in thousands, except per share data): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Revenues | $ | 2,921,604 | $ | 2,596,227 | ||||||||
Income from operations | 376,936 | 333,077 | ||||||||||
Net income | 336,250 | 314,300 | ||||||||||
Per share - basic | 1.8 | 1.68 | ||||||||||
Per share - diluted | 1.79 | 1.66 | ||||||||||
In July 2012, the Company acquired all of the issued and outstanding securities of ByteMobile, Inc. (“ByteMobile”), a privately-held provider of data and video optimization solutions for mobile network operators. ByteMobile became part of the Company's Enterprise and Service Provider division and extends the Company's industry reach into the mobile and cloud markets. The total consideration for this transaction was approximately $399.5 million, net of $5.6 million of cash acquired, and was paid in cash. Transaction costs associated with the acquisition were approximately $2.1 million, all of which the Company expensed during the year ended December 31, 2012 and are included in General and administrative expense in the accompanying consolidated statements of income. Revenues from the ByteMobile acquisition are included in the revenue of the Company's Enterprise and Service Provider division. The Company has included the effect of the ByteMobile acquisition in its results of operations prospectively from the date of acquisition. | ||||||||||||
Purchase Accounting for the ByteMobile acquisition | ||||||||||||
During the twelve months ended December 31, 2013, the Company made net adjustments to goodwill of approximately $3.3 million to the purchase price allocation associated with the ByteMobile acquisition. Goodwill from the ByteMobile acquisition was assigned to the Company's Enterprise and Service Provider division. The goodwill related to the ByteMobile acquisition is not deductible for tax purposes. See Note 2 for information on adjustments to goodwill and Note 11 for segment information. The goodwill amounts are comprised primarily of expected synergies from combining operations and other intangible assets that do not qualify for separate recognition. | ||||||||||||
The purchase price for ByteMobile was allocated to the acquired net tangible and intangible assets based on its estimated fair value as of the date of the acquisition. The allocation of the total purchase price is summarized below (in thousands): | ||||||||||||
ByteMobile | ||||||||||||
Purchase Price Allocation | Asset Life | |||||||||||
Current assets | $ | 57,796 | ||||||||||
Other assets | 7,406 | |||||||||||
Property and equipment | 2,484 | Various | ||||||||||
Deferred tax assets, non-current | 44,934 | |||||||||||
Intangible assets | 248,900 | 1-9 years | ||||||||||
Goodwill | 221,914 | Indefinite | ||||||||||
Assets acquired | 583,434 | |||||||||||
Current liabilities assumed | (62,313 | ) | ||||||||||
Long-term liabilities assumed | (4,083 | ) | ||||||||||
Deferred tax liabilities, non-current | (111,904 | ) | ||||||||||
Net assets acquired | $ | 405,134 | ||||||||||
Current assets acquired in connection with the ByteMobile acquisition consisted primarily of cash and accounts receivable. Current liabilities assumed in connection with the ByteMobile acquisition consisted primarily of current portion of deferred revenues, short-term payables, other accrued expenses and short-term debt which was paid in full subsequent to the acquisition date. Long-term liabilities assumed in connection with the ByteMobile acquisition consisted of other long-term liabilities, long-term portion of deferred revenues and long-term debt, which was paid in full subsequent to the acquisition date. Identifiable intangible assets acquired in connection with the ByteMobile acquisition included trade names of $6.0 million with a weighted-average asset life of 6.0 years, customer relationships of $141.5 million with a weighted-average life of 9.0 years, and core and product technologies of $101.4 million with a weighted-average life of 4.8 years. | ||||||||||||
Podio | ||||||||||||
In April 2012, the Company acquired all of the issued and outstanding securities of Podio ApS (“Podio”), a privately-held provider of a cloud-based collaborative work platform. Podio became part of the Company's SaaS division and expands the Company's offerings of integrated cloud-based support for team-based collaboration. The total consideration for this transaction was approximately $43.6 million, net of $1.7 million of cash acquired, and was paid in cash. Transaction costs associated with the acquisition were approximately $0.5 million, all of which the Company expensed during the year ended December 31, 2012 and are included in General and administrative expense in the accompanying consolidated statements of income. The Company recorded approximately $24.5 million of goodwill, which is not deductible for tax purposes, and acquired $24.6 million of identifiable intangible assets, of which $20.7 million is related to product related intangible assets and $3.9 million is related to other intangible assets. In addition, in connection with the acquisition, the Company assumed non-vested stock units which were converted into the right to receive up to 127,668 shares of the Company's common stock, for which the vesting period reset fully upon the closing of the transaction. | ||||||||||||
2012 Other Acquisitions | ||||||||||||
During the first quarter of 2012, the Company acquired all of the issued and outstanding securities of a privately-held company for total cash consideration of approximately $24.6 million, net of $0.6 million of cash acquired. This business became part of the Company’s Enterprise and Service Provider division. Transaction costs associated with the acquisition were approximately $0.5 million, of which the Company expensed $0.4 million and $0.1 million during the years ended December 31, 2012 and 2011, respectively, and are included in General and administrative expense in the accompanying consolidated statements of income. The Company recorded approximately $22.8 million of goodwill, which is not deductible for tax purposes, and acquired $11.0 million of identifiable intangible assets, all of which is related to product related intangible assets. In addition, in connection with this acquisition, the Company assumed non-vested stock units which were converted into the right to receive up to 13,481 shares of the Company's common stock and assumed certain stock options which are exercisable for 12,017 shares of the Company's common stock, for which the vesting period reset fully upon the closing of the transaction. | ||||||||||||
During the second quarter of 2012, the Company acquired all of the issued and outstanding securities of two privately-held companies for a total cash consideration of approximately $15.4 million, net of $0.2 million of cash acquired. The businesses became part of the Company's Enterprise and Service Provider division. Transaction costs associated with the acquisitions were approximately $0.4 million, all of which the Company expensed during the year ended December 31, 2012 and are included in General and administrative expense in the accompanying consolidated statements of income. In addition, in connection with the acquisitions, the Company assumed non-vested stock units which were converted into the right to receive, in the aggregate, up to 66,459 shares of the Company's common stock, for which the vesting period reset fully upon the closing of each respective transaction. | ||||||||||||
During the third quarter of 2012, the Company acquired all of the issued and outstanding securities of two privately-held companies for a total cash consideration of approximately $5.3 million. One of the businesses became part of the Company's Enterprise and Service Provider division and the other became part of the Company's SaaS division. Transaction costs associated with the acquisitions were approximately $0.2 million, all of which the Company expensed during the year ended December 31, 2012 and are included in General and administrative expense in the accompanying consolidated statements of income. In addition, in connection with the acquisitions, the Company assumed non-vested stock units which were converted into the right to receive, in the aggregate, up to 13,487 shares of the Company's common stock, for which the vesting period reset fully upon the closing of each respective transaction. | ||||||||||||
Subsequent Events | ||||||||||||
On January 8, 2014, the Company acquired all of the issued and outstanding securities of Framehawk, Inc. ("Framehawk"). The Framehawk solution, which optimizes the delivery of virtual desktops and applications to mobile devices, will be combined with HDX technology in the Citrix XenApp and XenDesktop products to deliver an unparalleled user experience under adverse network conditions. The total preliminary consideration for this transaction was approximately $27.9 million, net of $0.3 million of cash acquired, and was paid in cash. Transaction costs associated with the acquisition are currently estimated at $0.1 million, all of which the Company expensed during the year ended December 31, 2013 and are included in General and administrative expense in the accompanying consolidated statements of income. |
Investments
Investments | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||||||||||
INVESTMENTS | ' | |||||||||||||||||||||||||||||||
INVESTMENTS | ||||||||||||||||||||||||||||||||
Available-for-sale Investments | ||||||||||||||||||||||||||||||||
Investments in available-for-sale securities at fair value were as follows for the periods ended (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Description of the Securities | Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | |||||||||||||||||||||||||||||
Agency securities | $ | 453,922 | $ | 1,177 | $ | (349 | ) | $ | 454,750 | $ | 400,365 | $ | 2,347 | $ | (5 | ) | $ | 402,707 | ||||||||||||||
Corporate securities | 643,360 | 947 | (216 | ) | 644,091 | 404,546 | 947 | (171 | ) | 405,322 | ||||||||||||||||||||||
Municipal securities | 53,698 | 81 | (23 | ) | 53,756 | 32,214 | 114 | (15 | ) | 32,313 | ||||||||||||||||||||||
Government securities | 156,930 | 196 | (47 | ) | 157,079 | 39,863 | 131 | (1 | ) | 39,993 | ||||||||||||||||||||||
Total | $ | 1,307,910 | $ | 2,401 | $ | (635 | ) | $ | 1,309,676 | $ | 876,988 | $ | 3,539 | $ | (192 | ) | $ | 880,335 | ||||||||||||||
The change in net unrealized gains (losses) on available-for-sale securities recorded in Other comprehensive income (loss) includes unrealized gains (losses) that arose from changes in market value of specifically identified securities that were held during the period, gains (losses) that were previously unrealized, but have been recognized in current period net income due to sales, as well as prepayments of available-for-sale investments purchased at a premium. This reclassification has no effect on total comprehensive income or equity and was not material for all periods presented. See Note 14 for more information related to comprehensive income. | ||||||||||||||||||||||||||||||||
The average remaining maturities of the Company’s short-term and long-term available-for-sale investments at December 31, 2013 were approximately five months and three years, respectively. | ||||||||||||||||||||||||||||||||
Realized Gains and Losses on Available-for-sale Investments | ||||||||||||||||||||||||||||||||
For the years ended December 31, 2013 and 2012, the Company had realized gains on the sales of available-for-sale investments of $3.0 million and $4.1 million, respectively. For the years ended December 31, 2013 and 2012, the Company had realized losses on available-for-sale investments of $2.7 million and $0.8 million, respectively, primarily related to prepayments at par of securities purchased at a premium. All realized gains and losses related to the sales of available-for-sale investments are included in Other (expense) income, net, in the accompanying consolidated statements of income. | ||||||||||||||||||||||||||||||||
The Company continues to monitor its overall investment portfolio and if the credit ratings of the issuers of its investments deteriorate or if the issuers experience financial difficulty, including bankruptcy, the Company may be required to make adjustments to the carrying value of the securities in its investment portfolio and recognize impairment charges for declines in fair value that are determined to be other-than-temporary. | ||||||||||||||||||||||||||||||||
Other-Than-Temporary Impairment on Available-for-Sale Investments | ||||||||||||||||||||||||||||||||
There were no other-than-temporarily impaired available-for-sale investments during the twelve months ended December 31, 2013. During 2012, one of the Company’s available-for-sale investments with a carrying amount of $5.0 million was determined to be other-than-temporarily impaired. As a result of this determination, the investment was written down to its fair value of $2.5 million, resulting in an impairment charge of $2.5 million. The impairment charge is included in Other (expense) income, net in the accompanying consolidated statements of income. | ||||||||||||||||||||||||||||||||
Unrealized Losses on Available-for-Sale Investments | ||||||||||||||||||||||||||||||||
The gross unrealized losses on the Company’s available-for-sale investments that are not deemed to be other-than-temporarily impaired were $0.6 million and $0.2 million as of December 31, 2013 and 2012, respectively. Because the Company does not intend to sell any of its investments in an unrealized loss position and it is more likely than not that it will not be required to sell the securities before the recovery of its amortized cost basis, which may not occur until maturity, it does not consider the securities to be other-than-temporarily impaired. | ||||||||||||||||||||||||||||||||
Cost Method Investments | ||||||||||||||||||||||||||||||||
The Company held direct investments in privately-held companies of approximately $24.3 million and $26.2 million as of December 31, 2013 and 2012, respectively, which are accounted for based on the cost method and are included in Other assets in the accompanying consolidated balance sheets. The Company periodically reviews these investments for impairment. If the Company determines that an other-than-temporary impairment has occurred, it will write-down the investment to its fair value. During 2013 and 2012, certain companies in which the Company held direct investments were acquired by third parties and as a result of these sales transactions the Company recorded gains of $6.0 million and $16.5 million, respectively, which was included in Other (expense) income, net in the accompanying consolidated statements of income. The Company determined that certain cost method investments were impaired during 2013, 2012 and 2011 and recorded a total charge of $3.7 million, $3.5 million, and $3.5 million, respectively, which is included in Other (expense) income, net in the accompanying consolidated statements of income. See Note 5 for more information. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
The authoritative guidance defines fair value as an exit price, representing the amount that would either be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: | ||||||||||||||||
• | Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities; | |||||||||||||||
• | Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and | |||||||||||||||
• | Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |||||||||||||||
Available-for-sale securities included in Level 2 are valued utilizing inputs obtained from an independent pricing service (the “Service”) which uses quoted market prices for identical or comparable instruments rather than direct observations of quoted prices in active markets. The Service gathers observable inputs for all of the Company’s fixed income securities from a variety of industry data providers including, for example, large custodial institutions and other third-party sources. Once the observable inputs are gathered by the Service, all data points are considered and an average price is determined. The Service’s providers utilize a variety of inputs to determine their quoted prices. These inputs may include interest rates, known historical trades, yield curve information, benchmark data, prepayment speeds, credit quality and broker/dealer quotes. Substantially all of the Company’s available-for-sale investments are valued utilizing inputs obtained from the Service and accordingly are categorized as Level 2 in the table below. The Company periodically independently assesses the pricing obtained from the Service and historically has not adjusted the Service's pricing as a result of this assessment. Available-for-sale securities are included in Level 3 when relevant observable inputs for a security are not available. | ||||||||||||||||
The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy. In certain instances, the inputs used to measure fair value may meet the definition of more than one level of the fair value hierarchy. The input with the lowest level priority is used to determine the applicable level in the fair value hierarchy. | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
As of December 31, 2013 | Quoted | Significant | Significant | |||||||||||||
Prices In | Other | Unobservable | ||||||||||||||
Active Markets | Observable | Inputs (Level 3) | ||||||||||||||
for Identical | Inputs (Level 2) | |||||||||||||||
Assets (Level 1) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 227,528 | $ | 227,528 | $ | — | $ | — | ||||||||
Money market funds | 52,823 | 52,823 | — | — | ||||||||||||
Corporate securities | 389 | — | 389 | — | ||||||||||||
Available-for-sale securities: | ||||||||||||||||
Agency securities | 454,750 | — | 454,750 | — | ||||||||||||
Corporate securities | 644,091 | — | 633,801 | 10,291 | ||||||||||||
Municipal securities | 53,756 | — | 53,756 | — | ||||||||||||
Government securities | 157,079 | — | 157,079 | — | ||||||||||||
Prepaid expenses and other current assets: | ||||||||||||||||
Foreign currency derivatives | 4,952 | — | 4,952 | — | ||||||||||||
Total assets | $ | 1,595,368 | $ | 280,351 | $ | 1,304,727 | $ | 10,291 | ||||||||
Accrued expenses and other current liabilities: | ||||||||||||||||
Foreign currency derivatives | 1,743 | — | 1,743 | — | ||||||||||||
Total liabilities | $ | 1,743 | $ | — | $ | 1,743 | $ | — | ||||||||
As of December 31, 2012 | Quoted | Significant | Significant | |||||||||||||
Prices In | Other | Unobservable | ||||||||||||||
Active Markets | Observable | Inputs (Level 3) | ||||||||||||||
for Identical | Inputs (Level 2) | |||||||||||||||
Assets (Level 1) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 503,614 | $ | 503,614 | $ | — | $ | — | ||||||||
Money market funds | 123,519 | 123,519 | — | — | ||||||||||||
Corporate securities | 16,476 | — | 16,476 | — | ||||||||||||
Available-for-sale securities: | ||||||||||||||||
Agency securities | 402,707 | — | 402,707 | — | ||||||||||||
Corporate securities | 405,322 | — | 401,981 | 3,341 | ||||||||||||
Municipal securities | 32,313 | — | 32,313 | — | ||||||||||||
Government securities | 39,993 | — | 39,993 | — | ||||||||||||
Prepaid expenses and other current assets: | ||||||||||||||||
Foreign currency derivatives | 4,157 | — | 4,157 | — | ||||||||||||
Total assets | $ | 1,528,101 | $ | 627,133 | $ | 897,627 | $ | 3,341 | ||||||||
Accrued expenses and other current liabilities: | ||||||||||||||||
Foreign currency derivatives | 4,162 | — | 4,162 | — | ||||||||||||
Total liabilities | $ | 4,162 | $ | — | $ | 4,162 | $ | — | ||||||||
The Company’s fixed income available-for-sale security portfolio generally consists of high quality, investment grade securities from diverse issuers with a minimum credit rating of A-/A3 and a minimum weighted-average credit rating of AA-/Aa3. The Company values these securities based on pricing from the Service, whose sources may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value, and accordingly, the Company classifies all of its fixed income available-for-sale securities as Level 2. | ||||||||||||||||
The Company measures its cash flow hedges, which are classified as Prepaid expenses and other current assets and Accrued expenses and other current liabilities, at fair value based on indicative prices in active markets (Level 2 inputs). | ||||||||||||||||
Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||
The Company has invested in convertible debt securities of certain early-stage entities that are classified as available-for-sale investments. As quoted prices in active markets or other observable inputs were not available for these investments, in order to measure them at fair value, the Company utilized a discounted cash flow model using a discount rate reflecting the market risk inherent in holding securities of an early-stage enterprise, adjusted by the probability-weighted exit possibilities associated with the convertible debt securities. This methodology required the Company to make assumptions that were not directly or indirectly observable regarding the fair value of the convertible debt securities; accordingly they are a Level 3 valuation and included in the table below. | ||||||||||||||||
Investments | ||||||||||||||||
(in thousands) | ||||||||||||||||
Balance at December 31, 2012 | $ | 3,341 | ||||||||||||||
Purchases of Level 3 securities | 9,700 | |||||||||||||||
Transfers out of Level 3 | (2,750 | ) | ||||||||||||||
Balance at December 31, 2013 | $ | 10,291 | ||||||||||||||
Transfers out of Level 3 relate to certain of the Company's investments in convertible debt securities of early-stage entities that were previously classified as available-for-sale investments to cost method investments upon conversion to equity ownership, which are included in Other assets in the accompanying consolidated balance sheets. | ||||||||||||||||
Assets Measured at Fair Value on a Non-recurring Basis Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||
During 2013 and 2012, certain cost method investments with a combined carrying value of $9.3 million and $13.0 million, respectively, were determined to be impaired and have been written down to their fair values of $5.6 million and $9.5 million, respectively, resulting in impairment charges of $3.7 million and $3.5 million, respectively. The impairment charges are included in Other (expense) income, net in the accompanying consolidated financial statements for the years ended December 31, 2013 and 2012. In determining the fair value of cost method investments, the Company considers many factors including but not limited to operating performance of the investee, the amount of cash that the investee has on-hand, the ability to obtain additional financing and the overall market conditions in which the investee operates. The fair value of the cost method investment represents a Level 3 valuation as the assumptions used in valuing this investment were not directly or indirectly observable. See Note 4 for more information regarding cost method investments. | ||||||||||||||||
Additional Disclosures Regarding Fair Value Measurements | ||||||||||||||||
The carrying value of accounts receivable, accounts payable and accrued expenses and other current liabilities approximate their fair value due to the short maturity of these items. |
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ||||||||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | ' | ||||||||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | |||||||||
Accrued expenses consist of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Accrued compensation and employee benefits | $ | 141,065 | $ | 130,835 | |||||
Other accrued expenses | 116,541 | 126,300 | |||||||
Total | $ | 257,606 | $ | 257,135 | |||||
Employee_StockBased_Compensati
Employee Stock-Based Compensation and Benefit Plans | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
EMPLOYEE STOCK-BASED COMPENSATION AND BENEFIT PLANS | ' | |||||||||||||
EMPLOYEE STOCK-BASED COMPENSATION AND BENEFIT PLANS | ||||||||||||||
Plans | ||||||||||||||
The Company’s stock-based compensation program is a long-term retention program that is intended to attract and reward talented employees and align stockholder and employee interests. As of December 31, 2013, the Company had two stock-based compensation plans under which it was granting stock options and non-vested stock units. The Company is currently granting stock-based awards from its Amended and Restated 2005 Equity Incentive Plan (as amended, the “2005 Plan”) and its Amended and Restated 2005 Employee Stock Purchase Plan (as amended, the “2005 ESPP”). In February 2014, the Company's Board of Directors approved the 2014 Equity Incentive Plan, which is subject to stockholder approval at the Company Annual Meeting of Stockholders on May 22, 2014. There will be no grants under this plan until the plan is approved by the Company's stockholders. In connection with certain of the Company’s acquisitions, the Company has assumed certain plans from acquired companies. The Company’s Board of Directors has provided that no new awards will be granted under the Company’s acquired stock plans. Awards previously granted under the Company's superseded and expired stock plans that are still outstanding typically expire ten years from the date of grant and will continue to be subject to all the terms and conditions of such plans, as applicable. The Company’s superseded and expired stock plan includes the Amended and Restated 1995 Stock Plan. | ||||||||||||||
Under the terms of the 2005 Plan, the Company is authorized to grant incentive stock options (“ISOs”), non-qualified stock options (“NSOs”), non-vested stock, non-vested stock units, stock appreciation rights (“SARs”), and performance units and to make stock-based awards to full and part-time employees of the Company and its subsidiaries or affiliates, where legally eligible to participate, as well as to consultants and non-employee directors of the Company. Currently, the 2005 Plan provides for the issuance of a maximum of 48,600,000 shares of common stock. Under the 2005 Plan, ISOs must be granted at exercise prices no less than fair market value on the date of grant, except for ISOs granted to employees who own more than 10% of the Company’s combined voting power, for which the exercise prices must be no less than 110% of the fair market value at the date of grant. NSOs and SARs must be granted at no less than fair market value on the date of grant, or in the case of SARs in tandem with options, at the exercise price of the related option. Non-vested stock awards may be granted for such consideration in cash, other property or services, or a combination thereof, as determined by the Company’s Compensation Committee of its Board of Directors. Stock-based awards are generally exercisable or issuable upon vesting. The Company’s policy is to recognize compensation cost for awards with only service conditions and a graded vesting schedule on a straight-line basis over the requisite service period for the entire award. As of December 31, 2013, there were 26,960,367 shares of common stock reserved for issuance pursuant to the Company’s stock-based compensation plans and the Company had authorization under its 2005 Plan to grant 16,605,208 additional stock-based awards. | ||||||||||||||
Under the 2005 ESPP, all full-time and certain part-time employees of the Company are eligible to purchase common stock of the Company twice per year at the end of a six-month payment period (a “Payment Period”). During each Payment Period, eligible employees who so elect may authorize payroll deductions in an amount no less than 1% nor greater than 10% of his or her base pay for each payroll period in the Payment Period. At the end of each Payment Period, the accumulated deductions are used to purchase shares of common stock from the Company up to a maximum of 12,000 shares for any one employee during a Payment Period. Shares are purchased at a price equal to 85% of the fair market value of the Company’s common stock on the last business day of a Payment Period. Employees who, after exercising their rights to purchase shares of common stock in the 2005 ESPP, would own shares representing 5% or more of the voting power of the Company’s common stock, are ineligible to participate under the 2005 ESPP. The 2005 ESPP provides for the issuance of a maximum of 10,000,000 shares of common stock. As of December 31, 2013, 2,991,834 shares had been issued under the 2005 ESPP. The Company recorded stock-based compensation costs related to the 2005 ESPP of $4.9 million, $4.0 million and $3.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||
Expense Information under the Authoritative Guidance | ||||||||||||||
As required by the authoritative guidance, the Company estimates forfeitures of stock awards and recognizes compensation costs only for those awards expected to vest. Forfeiture rates are determined based on historical experience. The Company also considers whether there have been any significant changes in facts and circumstances that would affect its forfeiture rate quarterly. Estimated forfeitures are adjusted to actual forfeiture experience as needed. The Company recorded stock-based compensation costs, related deferred tax assets and tax benefits of $183.9 million, $57.1 million and $55.7 million, respectively, in 2013, $149.9 million, $46.7 million and $65.8 million, respectively, in 2012 and $92.9 million, $28.4 million and $67.9 million, respectively, in 2011. | ||||||||||||||
The detail of the total stock-based compensation recognized by income statement classification is as follows (in thousands): | ||||||||||||||
Income Statement Classifications | 2013 | 2012 | 2011 | |||||||||||
Cost of services revenues | $ | 2,540 | $ | 2,111 | $ | 1,584 | ||||||||
Research and development | 63,448 | 54,616 | 31,763 | |||||||||||
Sales, marketing and services | 65,549 | 51,519 | 31,354 | |||||||||||
General and administrative | 52,404 | 41,694 | 28,208 | |||||||||||
Total | $ | 183,941 | $ | 149,940 | $ | 92,909 | ||||||||
Stock Options | ||||||||||||||
Stock options granted under the 2005 Plan typically have a five-year life and vest over three years, with 33.3% of the shares underlying the option vesting on the first anniversary of the date of grant and the remainder of the underlying shares vesting in equal installments at a rate of 2.78% thereafter (the "Standard Vesting Rate"). The Company also assumes stock options from certain of its acquisitions for which the vesting period is typically reset to vest over three years at the Standard Vesting Rate. During the first quarter of 2013, the Company assumed in-the-money options from the Zenprise acquisition. See Note 3 for more information related to acquisitions. | ||||||||||||||
A summary of the status and activity of the Company’s fixed option awards is as follows: | ||||||||||||||
Options | Number of | Weighted- | Weighted- | Aggregate | ||||||||||
Options | Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | (in thousands) | ||||||||||||
Life | ||||||||||||||
(in years) | ||||||||||||||
Outstanding at December 31, 2012 | 7,589,532 | $ | 54.15 | 2.7 | ||||||||||
Assumed | 285,817 | 11.85 | ||||||||||||
Exercised | (2,168,531 | ) | 33.97 | |||||||||||
Forfeited or expired | (299,841 | ) | 60.9 | |||||||||||
Outstanding at December 31, 2013 | 5,406,977 | 59.64 | 2.15 | $ | 57,583 | |||||||||
Vested or expected to vest | 5,366,212 | 59.78 | 2.14 | $ | 56,548 | |||||||||
Exercisable at December 31, 2013 | 4,438,465 | 61.88 | 1.93 | $ | 38,167 | |||||||||
The Company recognized stock-based compensation expense of $48.9 million, $56.4 million and $48.2 million related to options for the years ended December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013, there was $29.7 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 1.22 years. The total intrinsic value of stock options exercised during 2013, 2012 and 2011 was $77.7 million, $131.4 million and $169.2 million, respectively. | ||||||||||||||
Stock Option Valuation Information | ||||||||||||||
The Company uses the Black-Scholes option pricing model to determine the fair value of stock options. The determination of the fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price, as well as assumptions regarding a number of complex and subjective variables. These variables include the Company’s expected stock price, volatility over the term of the awards, actual employee exercise behaviors, risk-free interest rate and expected dividends. For purposes of valuing stock options, the Company determined the expected volatility factor by considering the implied volatility in two-year market-traded options of the Company’s common stock based on third party volatility quotes in accordance with the provisions of SAB No. 107, Share Based Payment. The Company’s decision to use implied volatility was based upon the availability of actively traded options on the Company’s common stock and its assessment that implied volatility is more representative of future stock price trends than historical volatility. The approximate risk free interest rate was based on the implied yield available on U.S. Treasury zero-coupon issues with remaining terms equivalent to the Company’s expected terms on stock options. The expected term of stock options was based on the historical employee exercise patterns. In years when a significant number of stock options are granted, the Company analyzes its historical pattern of option exercises based on certain demographic characteristics annually and has historically determined that there were no meaningful differences in option exercise activity based on demographic characteristics. The Company does not intend to pay dividends on its common stock in the foreseeable future. Accordingly, the Company used a dividend yield of zero in its option pricing model. The weighted-average fair value of stock options granted and/or assumed during 2013, 2012 and 2011 was $56.97, $23.95 and $29.91, respectively. | ||||||||||||||
The assumptions used to value options granted and/or assumed are as follows: | ||||||||||||||
Stock options granted or assumed during | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Expected volatility factor | 0.39 | 0.38 - 0.43 | 0.38 - 0.50 | |||||||||||
Approximate risk free interest rate | 0.40% | 0.5% - 0.7% | 0.6% - 1.1% | |||||||||||
Expected term (in years) | 3.35 | 3.91 | 3.27 - 3.91 | |||||||||||
Expected dividend yield | 0% | 0% | 0% | |||||||||||
Non-vested Stock Units | ||||||||||||||
Market and Service Condition Stock Units | ||||||||||||||
In March 2013 and 2012, the Company granted senior level employees non-vested stock unit awards representing, in the aggregate, 399,029 and 418,809 non-vested stock units, respectively, that vest based on certain target market performance and service conditions. The number of non-vested stock units underlying each award will be determined within sixty days of the calendar year following the end of a three-year performance period ending December 31, 2015 for the March 2013 awards and December 31, 2014 for the March 2012 awards. The attainment level under the award will be based on the Company's total return to stockholders over the performance period compared to the return on the Nasdaq Composite Total Return Index (the "XCMP"). If the Company's return is positive and meets or exceeds the indexed return, the number of non-vested stock units issued will be based on interpolation, with the maximum number of non-vested stock units issuable pursuant to the award capped at 200% of the target number of non-vested stock units set forth in the award agreement if the Company's return exceeds the indexed return by 40% or more. If the Company's return over the performance period is positive but underperforms the index, a number of non-vested stock units will be issued, below the target award, based on interpolation; however, no non-vested stock units will be issued if the Company's return underperforms the index by more than 20% over the performance period. In the event the Company's return to stockholders is negative but still meets or exceeds the indexed return, only 75% of the target award shall be issued. If the awardee is not employed by the Company at the end of the performance period; the extent to which the awardee will vest in the award, if at all, is dependent upon the timing and character of the termination as provided in the award agreement. Each non-vested stock unit, upon vesting, represents the right to receive one share of the Company's common stock. | ||||||||||||||
The market condition requirements are reflected in the grant date fair value of the award, and the compensation expense for the award will be recognized assuming that the requisite service is rendered regardless of whether the market conditions are achieved. The grant date fair value of the non-vested performance stock unit awards was determined through the use of a Monte Carlo simulation model, which utilized multiple input variables that determined the probability of satisfying the market condition requirements applicable to each award as follows: | ||||||||||||||
March 2013 Grant | March 2012 Grant | |||||||||||||
Expected volatility factor | 0.16 - 0.42 | 0.21 - 0.39 | ||||||||||||
Risk free interest rate | 0.33 | % | 0.47 | % | ||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||
The range of expected volatilities utilized was based on the historical volatilities of the Company's common stock and the XCMP. The Company chose to use historical volatility to value these awards because historical stock prices were used to develop the correlation coefficients between the Company and the XCMP in order to model the stock price movements. The volatilities used were calculated over the most recent 2.75 year period, which was the remaining term of the performance period at the date of grant. The risk free interest rate was based on the implied yield available on U.S. Treasury zero-coupon issues with remaining terms equivalent to the remaining performance period. The Company does not intend to pay dividends on its common stock in the foreseeable future. Accordingly, the Company used a dividend yield of zero in its model. The estimated fair value of each award as of the date of grant was $89.93 for the March 2013 grant and $89.95 for the March 2012 grant. | ||||||||||||||
Service Based Stock Units | ||||||||||||||
The Company also awards senior level and certain other employees non-vested stock units granted under the 2005 Plan that vest based on service. The majority of these non-vested stock unit awards vest 33.33% on each anniversary subsequent to the date of the award. The remaining awards vest 100% on the third anniversary of the grant date. Each non-vested stock unit, upon vesting, represents the right to receive one share of the Company’s common stock. In addition, the Company awards non-vested stock units to all of its non-employee directors. These awards vest monthly in 12 equal installments based on service and, upon vesting, each stock unit represents the right to receive one share of the Company's common stock. | ||||||||||||||
The following table summarizes the Company's non-vested stock unit activity for the year ended December 31, 2013: | ||||||||||||||
Number of | Weighted- | |||||||||||||
Shares | Average | |||||||||||||
Fair Value | ||||||||||||||
at Grant Date | ||||||||||||||
Non-vested stock units at December 31, 2012 | 3,607,561 | $ | 74.7 | |||||||||||
Granted | 2,765,386 | 71.84 | ||||||||||||
Vested | (1,375,165 | ) | 69.36 | |||||||||||
Forfeited | (365,803 | ) | 76.16 | |||||||||||
Non-vested stock units at December 31, 2013 | 4,631,979 | 74.47 | ||||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Company recognized stock-based compensation expense of $130.2 million, $89.5 million and $40.0 million, respectively, related to non-vested stock units. The fair value of the non-vested stock units released in 2013, 2012, and 2011 was $95.4 million, $50.3 million and $21.3 million, respectively. As of December 31, 2013, there was $237.8 million of total unrecognized compensation cost related to non-vested stock units. The unrecognized cost is expected to be recognized over a weighted-average period of 1.96 years. | ||||||||||||||
Benefit Plan | ||||||||||||||
The Company maintains a 401(k) benefit plan allowing eligible U.S.-based employees to contribute up to 60% of their annual compensation, limited to an annual maximum amount as set periodically by the IRS. The Company, at its discretion, may contribute up to $0.50 for each dollar of employee contribution. The Company’s total matching contribution to an employee is typically made at 3% of the employee’s annual compensation. The Company’s matching contributions were $12.7 million, $10.5 million and $9.1 million in 2013, 2012 and 2011, respectively. The Company’s contributions vest over a four-year period at 25% per year. |
Capital_Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
CAPITAL STOCK | ' |
CAPITAL STOCK | |
Stock Repurchase Programs | |
The Company’s Board of Directors authorized an ongoing stock repurchase program with a total repurchase authority granted to the Company of $3.9 billion, of which $500.0 million was approved in October 2013. The Company may use the approved dollar authority to repurchase stock at any time until the approved amount is exhausted. The objective of the Company’s stock repurchase program is to improve stockholders’ returns. At December 31, 2013, approximately $429.3 million was available to repurchase common stock pursuant to the stock repurchase program. All shares repurchased are recorded as treasury stock in the Company's consolidated balance sheets. A portion of the funds used to repurchase stock over the course of the program was provided by proceeds from employee stock option exercises and the related tax benefit. | |
The Company is authorized to make open market purchases of its common stock using general corporate funds through open market purchases or pursuant to a Rule 10b5-1 plan. | |
During the year ended December 31, 2013, the Company expended approximately $406.3 million on open market purchases, repurchasing 6,563,986 shares of outstanding common stock at an average price of $61.90. | |
During the year ended December 31, 2012, the Company expended approximately $251.0 million on open market purchases, repurchasing 3,550,817 shares of outstanding common stock at an average price of $70.69. | |
During the year ended December 31, 2011, the Company expended approximately $424.8 million on open market purchases, repurchasing 6,275,470 shares of outstanding common stock at an average price of $67.70. | |
Shares for Tax Withholding | |
During the years ended December 31, 2013, 2012 and 2011, the Company withheld 444,657 shares, 269,745 shares and 182,203 shares, respectively, from stock units that vested. Amounts withheld to satisfy minimum tax withholding obligations that arose on the vesting of stock units was $31.0 million, $20.2 million and $13.3 million, for 2013, 2012 and 2011, respectively. These shares are reflected as treasury stock in the Company's consolidated balance sheets and statements of equity and the related cash outlays reduce the Company's total stock repurchase authority. | |
Preferred Stock | |
The Company is authorized to issue 5,000,000 shares of preferred stock, $0.01 par value per share. No shares of such preferred stock were issued and outstanding at December 31, 2013 or 2012. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
COMMITMENTS AND CONTINGENCIES | ' | ||||||||
COMMITMENTS AND CONTINGENCIES | |||||||||
Leases | |||||||||
The Company leases certain office space and equipment under various operating leases. In addition to rent, the leases require the Company to pay for taxes, insurance, maintenance and other operating expenses. Certain of these leases contain stated escalation clauses while others contain renewal options. The Company recognizes rent expense on a straight-line basis over the term of the lease, excluding renewal periods, unless renewal of the lease is reasonably assured. | |||||||||
Rental expense for the years ended December 31, 2013, 2012 and 2011 totaled approximately $70.9 million, $65.1 million and $56.5 million, respectively. Sublease income for the years ended December 31, 2013, 2012 and 2011 was approximately $0.3 million, $0.2 million and $0.2 million, respectively. Lease commitments under non-cancelable operating leases with initial or remaining terms in excess of one year and sublease income associated with non-cancelable subleases, are as follows: | |||||||||
Operating | Sublease | ||||||||
Leases | Income | ||||||||
(In thousands) | |||||||||
Years ending December 31, | |||||||||
2014 | $ | 60,982 | $ | 255 | |||||
2015 | 46,770 | 260 | |||||||
2016 | 39,353 | 227 | |||||||
2017 | 22,064 | 218 | |||||||
2018 | 18,536 | 203 | |||||||
Thereafter | 88,885 | — | |||||||
Total | $ | 276,590 | $ | 1,163 | |||||
Legal Matters | |||||||||
The Company accrues a liability for legal contingencies when it believes that it is both probable that a liability has been incurred and that it can reasonably estimate the amount of the loss. The Company reviews these accruals and adjusts them to reflect ongoing negotiations, settlements, rulings, advice of legal counsel and other relevant information. To the extent new information is obtained and the Company's views on the probable outcomes of claims, suits, assessments, investigations or legal proceedings change, changes in the Company's accrued liabilities would be recorded in the period in which such determination is made. For the Other Matters referenced below, the amount of liability is not probable or the amount cannot be reasonably estimated; and, therefore, accruals have not been made. In addition, in accordance with the relevant authoritative guidance, for matters in which the likelihood of material loss is at least reasonably possible, the Company provides disclosure of the possible loss or range of loss. If a reasonable estimate cannot be made, however, the Company will provide disclosure to that effect. | |||||||||
On April 11, 2008, SSL Services, LLC (“SSL Services”) filed a suit for patent infringement against the Company in the United States District Court for the Eastern District of Texas (the “SSL Matter”). SSL Services alleged that the Company infringed U.S. Patent Nos. 6,061,796 (the “'796 patent”) and 6,158,011 (the “'011 patent”). The Company denied infringement and asserted that the patents-in-suit were invalid. A jury trial was held on SSL Services' claims, and on June 18, 2012, the jury found that the Company does not infringe the '796 patent and found that the Company willfully infringes the '011 patent through the sale and use of certain products. The jury awarded SSL Services $10.0 million. On September 17, 2012, the court issued a final judgment confirming the jury award of $10.0 million in damages and added $5.0 million in enhanced damages and approximately $5.0 million in prejudgment interest on the damages award. The Company does not believe that any of its products infringe the '011 patent, and the Company believes that the '011 patent is invalid. Accordingly, no accrual has been made related to this matter. The Company has appealed the district court's judgment on the '011 patent. | |||||||||
In addition to the SSL Matter and due to the nature of the Company's business, the Company is subject to patent infringement claims, including current suits against it or one or more of its wholly-owned subsidiaries alleging infringement by various Company products and services (the "Other Matters"). The Company believes that it has meritorious defenses to the allegations made in its pending cases and intends to vigorously defend these lawsuits; however, it is unable currently to determine the ultimate outcome of these or similar matters or the potential exposure to loss, if any. In addition, the Company is a defendant in various litigation matters generally arising out of the normal course of business. Although it is difficult to predict the ultimate outcomes of these cases, the Company believes that it is not reasonably possible that the ultimate outcomes will materially and adversely affect its business, financial position, results of operations or cash flows. | |||||||||
Guarantees | |||||||||
The authoritative guidance requires certain guarantees to be recorded at fair value and requires a guarantor to make disclosures, even when the likelihood of making any payments under the guarantee is remote. For those guarantees and indemnifications that do not fall within the initial recognition and measurement requirements of the authoritative guidance, the Company must continue to monitor the conditions that are subject to the guarantees and indemnifications, as required under existing generally accepted accounting principles, to identify if a loss has been incurred. If the Company determines that it is probable that a loss has been incurred, any such estimable loss would be recognized. The initial recognition and measurement requirements do not apply to the provisions contained in the majority of the Company’s software license agreements that indemnify licensees of the Company’s software from damages and costs resulting from claims alleging that the Company’s software infringes the intellectual property rights of a third party. The Company has not made material payments pursuant to these provisions as of December 31, 2013. The Company has not identified any losses that are probable under these provisions and, accordingly, the Company has not recorded a liability related to these indemnification provisions. | |||||||||
Purchase Obligations | |||||||||
The Company has agreements with suppliers to purchase inventory and estimates its non-cancelable obligations under these agreements for the fiscal year ended December 31, 2014 to be approximately $13.1 million. The Company also has contingent obligations to purchase inventory for the fiscal year ended December 31, 2014, which are based on amount of usage, of approximately $18.2 million. The Company does not have any purchase obligations beyond December 31, 2014. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
INCOME TAXES | ' | ||||||||||||
INCOME TAXES | |||||||||||||
The United States and foreign components of income before income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
United States | $ | 142,085 | $ | 200,802 | $ | 176,824 | |||||||
Foreign | 245,805 | 209,427 | 253,673 | ||||||||||
Total | $ | 387,890 | $ | 410,229 | $ | 430,497 | |||||||
The components of the provision for income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Current: | |||||||||||||
Federal | $ | 51,389 | $ | 81,019 | $ | 50,022 | |||||||
Foreign | 37,221 | 30,059 | 29,169 | ||||||||||
State | 11,605 | 17,395 | 11,905 | ||||||||||
Total current | 100,215 | 128,473 | 91,096 | ||||||||||
Deferred: | |||||||||||||
Federal | (34,897 | ) | (64,960 | ) | (8,631 | ) | |||||||
Foreign | (8,413 | ) | 1,409 | (4,792 | ) | ||||||||
State | (8,538 | ) | (7,240 | ) | (2,806 | ) | |||||||
Total deferred | (51,848 | ) | (70,791 | ) | (16,229 | ) | |||||||
Total provision | $ | 48,367 | $ | 57,682 | $ | 74,867 | |||||||
The following table presents the breakdown between current and non-current net deferred tax assets: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets - current | $ | 48,470 | $ | 36,846 | |||||||||
Deferred tax liabilities - current | (364 | ) | (876 | ) | |||||||||
Deferred tax assets- non current | 115,418 | 43,097 | |||||||||||
Deferred tax liabilities - non current | (13,127 | ) | (19,756 | ) | |||||||||
Total net deferred tax assets | $ | 150,397 | $ | 59,311 | |||||||||
The significant components of the Company’s deferred tax assets and liabilities consisted of the following: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Accruals and reserves | $ | 25,556 | $ | 36,128 | |||||||||
Deferred revenue | 55,688 | 41,820 | |||||||||||
Tax credits | 60,519 | 43,657 | |||||||||||
Net operating losses | 103,329 | 89,856 | |||||||||||
Other | 10,537 | 8,452 | |||||||||||
Stock based compensation | 72,074 | 54,852 | |||||||||||
Depreciation and amortization | 1,675 | — | |||||||||||
Valuation allowance | (26,465 | ) | (18,185 | ) | |||||||||
Total deferred tax assets | 302,913 | 256,580 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | — | (40,159 | ) | ||||||||||
Acquired technology | (136,258 | ) | (140,017 | ) | |||||||||
Prepaid expenses | (16,258 | ) | (17,093 | ) | |||||||||
Total deferred tax liabilities | (152,516 | ) | (197,269 | ) | |||||||||
Total net deferred tax assets | $ | 150,397 | $ | 59,311 | |||||||||
The authoritative guidance requires a valuation allowance to reduce the deferred tax assets reported if it is not more likely than not that some portion or all of the deferred tax assets will be realized. At December 31, 2013, the Company determined that a $26.5 million valuation allowance relating to deferred tax assets for net operating losses and tax credits was necessary. | |||||||||||||
The Company does not expect to remit earnings from its foreign subsidiaries. Undistributed earnings of the Company’s foreign subsidiaries amounted to approximately $1,238.0 million at December 31, 2013. Those earnings are considered to be permanently reinvested and, accordingly, no U.S. federal and state income taxes have been provided thereon. Upon distribution of those earnings in the form of dividends or otherwise, the Company could be subject to both U.S. income taxes (subject to an adjustment for foreign tax credits) and withholding taxes payable to various foreign countries. The Company maintains certain strategic management and operational activities in overseas subsidiaries and its foreign earnings are taxed at rates that are generally lower than in the United States. | |||||||||||||
At December 31, 2013, the Company had $220.0 million of remaining net operating loss carry forwards in the United States from acquisitions. The utilization of these net operating loss carry forwards are limited in any one year pursuant to Internal Revenue Code Section 382 and begin to expire in 2019. At December 31, 2013, the Company had $52.0 million of remaining net operating loss carry forwards in foreign jurisdictions that do not expire. | |||||||||||||
At December 31, 2013, the Company had research and development tax credit carry forwards of approximately $55.6 million that begin to expire in 2024. | |||||||||||||
A reconciliation of the Company’s effective tax rate to the statutory federal rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal statutory taxes | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal tax benefit | 1.2 | 1.9 | 1.7 | ||||||||||
Foreign operations | (14.8 | ) | (10.2 | ) | (14.5 | ) | |||||||
Permanent differences | (1.1 | ) | (2.0 | ) | 1.2 | ||||||||
Tax credits | (10.9 | ) | (4.7 | ) | (7.1 | ) | |||||||
Stock option compensation | 0.4 | 0.1 | 0.1 | ||||||||||
Change in accruals for uncertain tax positions | 3.3 | (5.3 | ) | 1.4 | |||||||||
Other | (0.6 | ) | (0.7 | ) | (0.4 | ) | |||||||
12.5 | % | 14.1 | % | 17.4 | % | ||||||||
The Company’s effective tax rate generally differs from the U.S. federal statutory rate of 35% due primarily to lower tax rates on earnings generated by the Company’s foreign operations that are taxed primarily in Switzerland. The Company has not provided for U.S. taxes for those earnings because it plans to reinvest all of those earnings indefinitely outside the United States. It was not practicable to determine the amount of unrecognized deferred tax liability for temporary differences related to investments in foreign subsidiaries. | |||||||||||||
The Company and certain of its subsidiaries are subject to U.S. federal income taxes, as well as income taxes of multiple state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years prior to 2009. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013 and 2012 is as follows (in thousands): | |||||||||||||
Balance at January 1, 2012 | $ | 79,199 | |||||||||||
Additions based on tax positions related to the current year | 2,459 | ||||||||||||
Additions for tax positions of prior years | 9,558 | ||||||||||||
Reductions related to the expiration of statutes of limitations | (33,594 | ) | |||||||||||
Settlements | (13,718 | ) | |||||||||||
Balance at December 31, 2012 | 43,904 | ||||||||||||
Additions based on tax positions related to the current year | 13,694 | ||||||||||||
Additions for tax positions of prior years | 10,611 | ||||||||||||
Reductions related to the expiration of statutes of limitations | (2,116 | ) | |||||||||||
Settlements | (2,301 | ) | |||||||||||
Balance at December 31, 2013 | $ | 63,792 | |||||||||||
The Company's unrecognized tax benefits may change significantly over the next 12 months. | |||||||||||||
The Company recognizes interest accrued related to unrecognized tax benefits and penalties in income tax expense. During the year ended December 31, 2013, the Company recognized $0.8 million of expense related to interest and penalties. The Company has no amounts accrued for the payment of interest and penalties at December 31, 2013. | |||||||||||||
The federal research and development credit expired on December 31, 2011. On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law. Under this act, the federal research and development credit was retroactively extended for amounts paid or incurred after December 31, 2011 and before January 1, 2014. The effects of these changes in the tax law will result in net tax benefits of approximately $10.7 million, which were recognized in 2013, the year in which the law was enacted. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
SEGMENT INFORMATION | ' | |||||||||||
SEGMENT INFORMATION | ||||||||||||
The Enterprise and Service Provider division and the SaaS division constitute the Company’s two reportable segments. The Company does not engage in intercompany revenue transfers between segments. The Company’s chief operating decision maker (“CODM”) evaluates the Company’s performance based primarily on profitability from its Enterprise and Service Provider division products and SaaS division products. Segment profit for each segment includes certain research and development, sales, marketing, general and administrative expenses directly attributable to the segment as well as other corporate costs allocated to the segment and excludes certain expenses that are managed outside of the reportable segments. Costs excluded from segment profit primarily consist of certain restructuring charges, stock-based compensation costs, amortization of product related intangible assets, amortization of other intangible assets, net interest and Other (expense) income, net. Accounting policies of the Company’s segments are the same as its consolidated accounting policies. | ||||||||||||
International revenues (sales outside of the United States) accounted for approximately 45.4%, 45.3% and 43.2% of the Company’s net revenues for the year ended December 31, 2013, 2012, and 2011, respectively. Net revenues and segment profit for 2013, 2012 and 2011 classified by the Company’s reportable segments, are presented below: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Net revenues: | ||||||||||||
Enterprise and Service Provider division | $ | 2,335,562 | $ | 2,074,800 | $ | 1,778,646 | ||||||
SaaS division | 582,872 | 511,323 | 427,746 | |||||||||
Consolidated | $ | 2,918,434 | $ | 2,586,123 | $ | 2,206,392 | ||||||
Segment profit: | ||||||||||||
Enterprise and Services Provider division | $ | 588,138 | $ | 562,794 | $ | 504,883 | ||||||
SaaS division | 116,061 | 92,498 | 76,147 | |||||||||
Unallocated expenses (1): | ||||||||||||
Amortization of intangible assets | (139,541 | ) | (114,574 | ) | (71,131 | ) | ||||||
Restructuring | — | — | (24 | ) | ||||||||
Net interest and other income | 7,173 | 19,451 | 13,531 | |||||||||
Stock-based compensation | (183,941 | ) | (149,940 | ) | (92,909 | ) | ||||||
Consolidated income before income taxes | $ | 387,890 | $ | 410,229 | $ | 430,497 | ||||||
(1) | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. | |||||||||||
Identifiable assets classified by the Company’s reportable segments are shown below. Long-lived assets consist of property and equipment, net, and are shown below. | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Identifiable assets: | ||||||||||||
Enterprise and Service Provider division | $ | 4,662,724 | $ | 4,246,292 | ||||||||
SaaS division | 549,525 | 550,110 | ||||||||||
Total identifiable assets | $ | 5,212,249 | $ | 4,796,402 | ||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Long-lived assets, net: | ||||||||||||
United States | $ | 258,114 | $ | 231,812 | ||||||||
United Kingdom | 29,382 | 30,633 | ||||||||||
Other countries | 51,500 | 40,849 | ||||||||||
Total long-lived assets, net | $ | 338,996 | $ | 303,294 | ||||||||
The increases in identifiable assets are primarily due to goodwill and intangible assets recorded in conjunction with the Company's 2013 Acquisitions. See Note 3 for additional information regarding the Company’s acquisitions. | ||||||||||||
In fiscal years 2013, 2012 and 2011, one distributor, Ingram Micro, accounted for 14%, 16% and 17%, respectively, of the Company’s total net revenues. The Company’s distributor arrangements with Ingram Micro consist of several non-exclusive, independently negotiated agreements with its subsidiaries, each of which cover different countries or regions. Each of these agreements is separately negotiated and is independent of any other contract (such as a master distribution agreement), one of which was individually responsible for over 10% of the Company’s total net revenues in each of the last three fiscal years. In fiscal years 2013, 2012 and 2011, there were no resellers that accounted for over 10% of the Company’s total net revenues. Total net revenues associated with Ingram Micro are included in the Company's Enterprise and Service Provider division. | ||||||||||||
Revenues by product grouping for the Company’s Enterprise and Service Provider division and SaaS division were as follows for the years ended: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Net revenues: | ||||||||||||
Enterprise and Service Provider division | ||||||||||||
Mobile and Desktop revenues(1) | $ | 1,549,383 | $ | 1,450,850 | $ | 1,278,798 | ||||||
Networking and Cloud revenues(2) | 634,598 | 496,608 | 385,518 | |||||||||
Professional services(3) | 138,879 | 119,061 | 91,496 | |||||||||
Other | 12,702 | 8,281 | 22,834 | |||||||||
Total Enterprise and Service Provider division revenues | 2,335,562 | 2,074,800 | 1,778,646 | |||||||||
SaaS division revenues | 582,872 | 511,323 | 427,746 | |||||||||
Total net revenues | $ | 2,918,434 | $ | 2,586,123 | $ | 2,206,392 | ||||||
-1 | Mobile and Desktop revenues are primarily comprised of sales from the Company’s desktop and application virtualization products, XenDesktop and XenApp, and the Company's Mobility products, which include XenMobile and related license updates and maintenance and support. | |||||||||||
-2 | Networking and Cloud revenues are primarily comprised of sales from the Company’s cloud networking products, which include NetScaler, CloudBridge and ByteMobile Smart Capacity, and the Company’s cloud platform products which include XenServer, CloudPlatform and CloudPortal and related license updates and maintenance and support. | |||||||||||
-3 | Professional services revenues are primarily comprised of revenues from consulting services and product training and certification services. | |||||||||||
Revenues by Geographic Location | ||||||||||||
The following table presents revenues by segment and geographic location, for the years ended: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Net revenues: | ||||||||||||
Enterprise and Service Provider division | ||||||||||||
Americas | $ | 1,263,673 | $ | 1,106,801 | $ | 993,062 | ||||||
EMEA | 785,862 | 691,111 | 576,953 | |||||||||
Asia-Pacific | 286,027 | 276,888 | 208,631 | |||||||||
Total Enterprise and Service Provider division revenues | 2,335,562 | 2,074,800 | 1,778,646 | |||||||||
SaaS division | ||||||||||||
Americas | 488,307 | 433,263 | 367,260 | |||||||||
EMEA | 73,529 | 63,484 | 50,711 | |||||||||
Asia-Pacific | 21,036 | 14,576 | 9,775 | |||||||||
Total SaaS division revenues | 582,872 | 511,323 | 427,746 | |||||||||
Total net revenues | $ | 2,918,434 | $ | 2,586,123 | $ | 2,206,392 | ||||||
Export revenue represents shipments of finished goods and services from the United States to international customers, primarily in Latin America and Canada. Shipments from the United States to international customers for 2013, 2012 and 2011 were $215.3 million, $127.4 million and $106.0 million, respectively. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ' | |||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ||||||||||||||||||
Derivatives Designated as Hedging Instruments | ||||||||||||||||||
As of December 31, 2013, the Company’s derivative assets and liabilities primarily resulted from cash flow hedges related to its forecasted operating expenses transacted in local currencies. A substantial portion of the Company’s overseas expenses are and will continue to be transacted in local currencies. To protect against fluctuations in operating expenses and the volatility of future cash flows caused by changes in currency exchange rates, the Company has established a program that uses foreign exchange forward contracts to hedge its exposure to these potential changes. The terms of these instruments, and the hedged transactions to which they relate, generally do not exceed twelve months and the maximum term is eighteen months. | ||||||||||||||||||
Generally, when the dollar is weak, foreign currency denominated expenses will be higher, and these higher expenses will be partially offset by the gains realized from the Company’s hedging contracts. Conversely, if the dollar is strong, foreign currency denominated expenses will be lower. These lower expenses will in turn be partially offset by the losses incurred from the Company’s hedging contracts. The change in the derivative component in Accumulated other comprehensive income (loss) includes unrealized gains or losses that arose from changes in market value of the effective portion of derivatives that were held during the period, and gains or losses that were previously unrealized but have been recognized in the same line item as the forecasted transaction in current period net income due to termination or maturities of derivative contracts. This reclassification has no effect on total comprehensive income or equity. | ||||||||||||||||||
The total cumulative unrealized gain on cash flow derivative instruments was $2.9 million and nil at December 31, 2013 and 2012, respectively, and is included in Accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets. The net unrealized gain as of December 31, 2013 is expected to be recognized in income over the next twelve months at the same time the hedged items are recognized in income. | ||||||||||||||||||
Derivatives not Designated as Hedges | ||||||||||||||||||
A substantial portion of the Company’s overseas assets and liabilities are and will continue to be denominated in local currencies. To protect against fluctuations in earnings caused by changes in currency exchange rates when remeasuring the Company’s balance sheet, it utilizes foreign exchange forward contracts to hedge its exposure to this potential volatility. | ||||||||||||||||||
These contracts are not designated for hedge accounting treatment under the authoritative guidance. Accordingly, changes in the fair value of these contracts are recorded in Other (expense) income, net. | ||||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||
(In thousands) | ||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||
Derivatives Designated as | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | ||||||||||
Hedging Instruments | Location | Value | Location | Value | Location | Value | Location | Value | ||||||||||
Foreign currency forward contracts | Prepaid | $4,559 | Prepaid | $4,157 | Accrued | $1,578 | Accrued | $4,162 | ||||||||||
expenses | expenses | expenses | expenses | |||||||||||||||
and other | and other | and other | and other | |||||||||||||||
current | current | current | current | |||||||||||||||
assets | assets | liabilities | liabilities | |||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||
(In thousands) | ||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||
Derivatives Not Designated as | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | ||||||||||
Hedging Instruments | Location | Value | Location | Value | Location | Value | Location | Value | ||||||||||
Foreign currency forward contracts | Prepaid | $393 | Prepaid | $448 | Accrued | $165 | Accrued | $52 | ||||||||||
expenses | expenses | expenses | expenses | |||||||||||||||
and other | and other | and other | and other | |||||||||||||||
current | current | current | current | |||||||||||||||
assets | assets | liabilities | liabilities | |||||||||||||||
The Effect of Derivative Instruments on Financial Performance | ||||||||||||||||||
For the Year ended December 31, | ||||||||||||||||||
(In thousands) | ||||||||||||||||||
Derivatives in Cash Flow | Amount of Gain Recognized in Other | Location of Loss Reclassified | Amount of Loss Reclassified from | |||||||||||||||
Hedging Relationships | Comprehensive Income (Loss) | from Accumulated Other | Accumulated Other | |||||||||||||||
(Effective Portion) | Comprehensive Income (Loss) into Income | Comprehensive Income (Loss) | ||||||||||||||||
(Effective Portion) | (Effective Portion) | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Foreign currency forward contracts | $ | 2,862 | $ | 5,164 | Operating expenses | $ | (2,929 | ) | $ | (5,817 | ) | |||||||
There was no material ineffectiveness in the Company’s foreign currency hedging program in the periods presented. | ||||||||||||||||||
For the Year ended December 31, | ||||||||||||||||||
(In thousands) | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income on | Amount of Gain (Loss) Recognized in Income on Derivative | ||||||||||||||||
Derivative | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Foreign currency forward contracts | Other (expense) income, net | $ | 3,138 | $ | (1,341 | ) | ||||||||||||
Outstanding Foreign Currency Forward Contracts | ||||||||||||||||||
As of December 31, 2013, the Company had the following net notional foreign currency forward contracts outstanding (in thousands): | ||||||||||||||||||
Foreign Currency | Currency | |||||||||||||||||
Denomination | ||||||||||||||||||
Australian dollars | AUD 8,012 | |||||||||||||||||
British pounds sterling | GBP 34,475 | |||||||||||||||||
Canadian dollars | CAD 6,714 | |||||||||||||||||
Chinese renminbi | CNY 81,250 | |||||||||||||||||
Danish krone | DKK 1,500 | |||||||||||||||||
Euro | EUR 27,820 | |||||||||||||||||
Hong Kong dollars | HKD 51,063 | |||||||||||||||||
Indian rupees | INR 1,201,622 | |||||||||||||||||
Japanese yen | JPY 169,004 | |||||||||||||||||
New Zealand dollars | NZD 300 | |||||||||||||||||
Singapore dollars | SGD 12,600 | |||||||||||||||||
Swiss francs | CHF 19,741 |
Net_Income_Per_Share_Attributa
Net Income Per Share Attributable To Citrix Systems Inc. Stockholders | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
NET INCOME PER SHARE ATTRIBUTABLE TO CITRIX SYSTEMS, INC. STOCKHOLDERS | ' | |||||||||||
NET INCOME PER SHARE ATTRIBUTABLE TO CITRIX SYSTEMS, INC. STOCKHOLDERS | ||||||||||||
The following table sets forth the computation of basic and diluted net income per share attributable to Citrix Systems, Inc. stockholders (in thousands, except per share information): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator: | ||||||||||||
Net income attributable to Citrix Systems, Inc. stockholders | $ | 339,523 | $ | 352,547 | $ | 356,322 | ||||||
Denominator: | ||||||||||||
Denominator for basic earnings per share - weighted-average shares outstanding | 186,672 | 186,722 | 187,315 | |||||||||
Effect of dilutive employee stock awards: | ||||||||||||
Employee stock awards | 1,573 | 2,407 | 3,326 | |||||||||
Denominator for diluted earnings per share - weighted-average shares outstanding | 188,245 | 189,129 | 190,641 | |||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic | $ | 1.82 | $ | 1.89 | $ | 1.9 | ||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted | $ | 1.8 | $ | 1.86 | $ | 1.87 | ||||||
Anti-dilutive weighted-average shares | 3,647 | 3,464 | 2,576 | |||||||||
Comprehensive_Income
Comprehensive Income | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||
COMPREHENSIVE INCOME | ' | |||||||||||||||||||
COMPREHENSIVE INCOME | ||||||||||||||||||||
The changes in Accumulated other comprehensive income (loss) by component, net of tax, are as follows (in thousands): | ||||||||||||||||||||
Foreign currency | Unrealized gain (loss) on available-for-sale securities | Unrealized gain (loss) on derivative instruments | Other comprehensive gain (loss) on pension liability | Total | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Balance at December 31, 2012 | $ | (3,024 | ) | $ | 2,426 | $ | (10 | ) | $ | (7,097 | ) | $ | (7,705 | ) | ||||||
Other comprehensive income before reclassifications | 8,482 | (985 | ) | (67 | ) | 2,500 | 9,930 | |||||||||||||
Amounts reclassified from Accumulated other comprehensive income (loss) | — | (203 | ) | 2,929 | — | 2,726 | ||||||||||||||
Net current period other comprehensive income | 8,482 | (1,188 | ) | 2,862 | 2,500 | 12,656 | ||||||||||||||
Balance at December 31, 2013 | $ | 5,458 | $ | 1,238 | $ | 2,852 | $ | (4,597 | ) | $ | 4,951 | |||||||||
Income tax expense or benefit allocated to each component of other comprehensive income is not material. | ||||||||||||||||||||
Reclassifications out of Accumulated other comprehensive income (loss) are as follows (in thousands): | ||||||||||||||||||||
For the Twelve Months Ended December 31, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Details about Accumulated other comprehensive income (loss) components | Amount reclassified from Accumulated other comprehensive income (loss), net of tax | Affected line item in the Consolidated Statements of Income | ||||||||||||||||||
Unrealized net gain on available-for-sale securities | $ | 203 | Other (expense) income, net | |||||||||||||||||
Unrealized net losses on cash flow hedges | (2,929 | ) | Operating expenses * | |||||||||||||||||
$ | (2,726 | ) | ||||||||||||||||||
* Operating expenses amounts allocated to Research and development, Sales, marketing and services, and General and administrative are not individually significant. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncement or Change in Accounting Principle, Retrospective Adjustments [Abstract] | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | |
In July 2013, the Financial Accounting Standards Board issued an accounting standard update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carry forward, a similar tax loss, or a tax credit carry forward exists. Under the new standard, the Company's unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward. This accounting standard update will be effective for the Company beginning in the first quarter of fiscal year 2014 and applied prospectively. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements. |
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | ' | ||||||||||||||||||||
CITRIX SYSTEMS, INC. | |||||||||||||||||||||
SUPPLEMENTAL FINANCIAL INFORMATION | |||||||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||||||||||
First | Second | Third | Fourth | Total Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Net revenues | $ | 672,899 | $ | 730,384 | $ | 712,731 | $ | 802,420 | $ | 2,918,434 | |||||||||||
Gross margin | 557,985 | 603,144 | 588,798 | 665,712 | 2,415,639 | ||||||||||||||||
Income from operations | 56,608 | 75,888 | 87,367 | 160,854 | 380,717 | ||||||||||||||||
Net income attributable to Citrix Systems, Inc. | 59,688 | 64,461 | 76,730 | 138,644 | 339,523 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic | 0.32 | 0.34 | 0.41 | 0.75 | 1.82 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted | 0.32 | 0.34 | 0.41 | 0.74 | 1.8 | ||||||||||||||||
First | Second | Third | Fourth | Total Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||
2012 | |||||||||||||||||||||
Net revenues | $ | 589,495 | $ | 615,210 | $ | 641,422 | $ | 739,996 | $ | 2,586,123 | |||||||||||
Gross margin | 503,152 | 520,852 | 535,354 | 622,628 | 2,181,986 | ||||||||||||||||
Income from operations | 80,750 | 82,192 | 82,415 | 145,421 | 390,778 | ||||||||||||||||
Net income attributable to Citrix Systems, Inc. | 68,267 | 92,006 | 78,245 | 114,029 | 352,547 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic | 0.37 | 0.49 | 0.42 | 0.61 | 1.89 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted | 0.36 | 0.49 | 0.41 | 0.6 | 1.86 | ||||||||||||||||
The sum of the quarterly net income per share amounts do not add to the annual earnings per share amount due to the weighting of common and common equivalent shares outstanding during each of the respective periods. | |||||||||||||||||||||
The Consolidated Statement of Cash Flows for the year ended December 31, 2013 reflects an adjustment of approximately $17.3 million made to the captions “Excess tax benefit from stock based compensation” and “Income taxes, net” for the three months ended March 31, 2013. Accordingly, the adjusted net cash provided by operating activities and net cash used in financing activities for the three months ended March 31, 2013 is approximately $266.6 million and $28.9 million, respectively. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ' | ||||||||||||||||||||||||||
CITRIX SYSTEMS, INC. | |||||||||||||||||||||||||||
SCHEDULE II | |||||||||||||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||||||||
Beginning | Charged | Charged | Deductions | Balance | |||||||||||||||||||||||
of Period | to Costs and | to Other | at End | ||||||||||||||||||||||||
Expenses | Accounts | of Period | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||
Deducted from asset accounts: | |||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | 3,883 | $ | 1,046 | $ | — | $ | 1,637 | (2 | ) | $ | 3,292 | |||||||||||||||
Allowance for returns | 2,564 | — | 4,473 | (1 | ) | 4,975 | (4 | ) | 2,062 | ||||||||||||||||||
Valuation allowance for deferred tax assets | 18,185 | — | 8,280 | (6 | ) | — | 26,465 | ||||||||||||||||||||
2012 | |||||||||||||||||||||||||||
Deducted from asset accounts: | |||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | 2,564 | $ | 1,784 | $ | 1,119 | (3 | ) | $ | 1,584 | (2 | ) | $ | 3,883 | |||||||||||||
Allowance for returns | 1,361 | — | 10,742 | (1 | ) | 9,539 | (4 | ) | 2,564 | ||||||||||||||||||
Valuation allowance for deferred tax assets | 9,235 | — | 8,950 | (6 | ) | — | 18,185 | ||||||||||||||||||||
2011 | |||||||||||||||||||||||||||
Deducted from asset accounts: | |||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | 3,409 | $ | 266 | $ | 1,468 | (3 | ) | $ | 2,579 | (2 | ) | $ | 2,564 | |||||||||||||
Allowance for returns | 850 | — | 5,542 | (1 | ) | 5,031 | (4 | ) | 1,361 | ||||||||||||||||||
Valuation allowance for deferred tax assets | 13,999 | — | (4,764 | ) | (5 | ) | — | 9,235 | |||||||||||||||||||
(1) | Charged against revenues. | ||||||||||||||||||||||||||
(2) | Uncollectible accounts written off, net of recoveries. | ||||||||||||||||||||||||||
(3) | Adjustments from acquisitions. | ||||||||||||||||||||||||||
(4) | Credits issued for returns. | ||||||||||||||||||||||||||
(5) | Related to deferred tax assets on unrealized losses and acquisitions. | ||||||||||||||||||||||||||
(6) | Related to deferred tax assets on foreign tax credits, net operating loss carryforwards, and depreciation. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policy) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Accounting Policies [Abstract] | ' | |||||||||
Consolidation Policy | ' | |||||||||
Consolidation Policy | ||||||||||
The consolidated financial statements of the Company include the accounts of its wholly-owned subsidiaries in the Americas, Europe, the Middle East and Africa (“EMEA”), Asia-Pacific and the SaaS division. All significant transactions and balances between the Company and its subsidiaries have been eliminated in consolidation. | ||||||||||
Cash and Cash Equivalents | ' | |||||||||
Cash and Cash Equivalents | ||||||||||
Cash and cash equivalents at December 31, 2013 and 2012 include marketable securities, which are primarily money market funds, commercial paper, agency, and government securities, municipal securities and corporate securities with initial or remaining contractual maturities when purchased of three months or less. | ||||||||||
Investments | ' | |||||||||
Investments | ||||||||||
Short-term and long-term investments at December 31, 2013 and 2012 primarily consist of agency securities, corporate securities, municipal securities and government securities. Investments classified as available-for-sale are stated at fair value with unrealized gains and losses, net of taxes, reported in Accumulated other comprehensive income (loss). The Company classifies its available-for-sale investments as current and non-current based on their actual remaining time to maturity. The Company does not recognize changes in the fair value of its available-for-sale investments in income unless a decline in value is considered other-than-temporary in accordance with the authoritative guidance. | ||||||||||
The Company’s investment policy is designed to limit exposure to any one issuer depending on credit quality. The Company uses information provided by third parties to adjust the carrying value of certain of its investments to fair value at the end of each period. Fair values are based on a variety of inputs and may include interest rates, known historical trades, yield curve information, benchmark data, prepayment speeds, credit quality and broker/dealer quotes. | ||||||||||
Accounts Receivable | ' | |||||||||
Accounts Receivable | ||||||||||
The Company’s accounts receivable are attributable primarily to VARs, VADs and end customers. Collateral is generally not required. The Company also maintains allowances for doubtful accounts for estimated losses resulting from the inability of the Company’s customers to make payments. The Company periodically reviews these estimated allowances, including by conducting an analysis of the customer's payment history and creditworthiness, the age of the trade receivable balances and current economic conditions that may affect a customer’s ability to make payments. Based on this review, the Company specifically reserves for those accounts deemed uncollectible. When receivables are determined to be uncollectible, principal amounts of such receivables outstanding are deducted from the allowance. The allowance for doubtful accounts was $3.3 million and $3.8 million as of December 31, 2013 and 2012, respectively. If the financial condition of a significant distributor or customer were to deteriorate, the Company’s operating results could be adversely affected. One distributor, Ingram Micro, accounted for 10% and 11% of gross accounts receivable at December 31, 2013 and 2012, respectively. | ||||||||||
Inventory | ' | |||||||||
Inventory | ||||||||||
Inventories are stated at the lower of cost or market on a standard cost basis, which approximates actual cost. The Company’s inventories primarily consist of finished goods as of December 31, 2013 and 2012. | ||||||||||
Property and Equipment | ' | |||||||||
Property and Equipment | ||||||||||
Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which is generally three years for computer equipment and software, the lesser of the lease term or ten years for leasehold improvements, which is the estimated useful life, seven years for office equipment and furniture and the Company’s enterprise resource planning system and 40 years for buildings. | ||||||||||
Long-Lived Assets | ' | |||||||||
Long-Lived Assets | ||||||||||
The Company reviews for impairment of long-lived assets and certain identifiable intangible assets to be held and used whenever events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss is based on the fair value of the asset compared to its carrying value. Long-lived assets and certain identifiable intangible assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. | ||||||||||
Goodwill | ' | |||||||||
Goodwill | ||||||||||
The Company accounts for goodwill in accordance with the authoritative guidance, which requires that goodwill and certain intangible assets are not amortized, but are subject to an annual impairment test. There was no impairment of goodwill or indefinite lived intangible assets as a result of the annual impairment tests analyses completed during the fourth quarters of 2013 and 2012, respectively. The authoritative guidance provides entities with an option to perform a qualitative assessment to determine whether further quantitative impairment testing is necessary. The Company performed the qualitative assessment when it performed its goodwill impairment test in the fourth quarter of 2013. As a result of the qualitative analysis, no further quantitative impairment test was deemed necessary. See Note 3 for acquisitions and Note 11 for segment information. | ||||||||||
Intangible Assets | ' | |||||||||
Intangible Assets | ||||||||||
The Company has intangible assets which were primarily acquired in conjunction with business combinations and technology purchases. Intangible assets with finite lives are recorded at cost, less accumulated amortization. Amortization is recognized on a straight-line basis over the estimated useful lives of the respective assets, generally three to seven years, except for patents, which are amortized over the lesser of their remaining life or ten years. In accordance with the authoritative guidance, the Company records acquired product related intangible assets at net realizable value and reviews this technology for impairment on a periodic basis by comparing the estimated net realizable value to the unamortized cost of the technology. In-process R&D is initially capitalized at fair value as an intangible asset with an indefinite life and assessed for impairment thereafter. When in-process R&D projects are completed, the corresponding amount is reclassified as an amortizable purchased intangible asset and is amortized over the asset's estimated useful life. | ||||||||||
Intangible assets consist of the following (in thousands): | ||||||||||
December 31, 2013 | ||||||||||
Gross Carrying | Accumulated | Weighted-Average Life (Years) | ||||||||
Amount | Amortization | |||||||||
Product related intangible assets | $ | 677,509 | $ | 428,418 | 5.6 | |||||
Other | 482,918 | 222,414 | 7.52 | |||||||
Total | $ | 1,160,427 | $ | 650,832 | 6.38 | |||||
December 31, 2012 | ||||||||||
Gross Carrying | Accumulated | Weighted-Average Life (Years) | ||||||||
Amount | Amortization | |||||||||
Product related intangible assets | $ | 620,032 | $ | 339,608 | 5.6 | |||||
Other | 446,601 | 170,820 | 7.28 | |||||||
Total | $ | 1,066,633 | $ | 510,428 | 6.29 | |||||
Other intangible assets consist primarily of customer relationships, trade names, covenants not to compete and patents. Amortization of product related intangible assets includes amortization of product related technologies and patents and is reported as a Cost of net revenues in the accompanying consolidated statements of income. Amortization of other intangible assets includes amortization of customer relationships, trade names and covenants not to compete and is reported as an Operating expense in the accompanying consolidated statements of income. The Company monitors its intangible assets for indicators of impairment. If the Company determines an impairment has occurred, it will write-down the intangible asset to its fair value. | ||||||||||
Software Development Costs | ' | |||||||||
Software Development Costs | ||||||||||
The authoritative guidance requires certain internal software development costs related to software to be sold to be capitalized upon the establishment of technological feasibility. The Company's software development costs incurred subsequent to achieving technological feasibility have not been significant and substantially all software development costs have been expensed as incurred. | ||||||||||
Internal Use Software | ' | |||||||||
Internal Use Software | ||||||||||
In accordance with the authoritative guidance, the Company capitalizes external direct costs of materials and services and internal costs such as payroll and benefits of those employees directly associated with the development of new functionality in internal use software and software developed related to its software as a service (“SaaS”) offerings. The amount of costs capitalized in 2013 and 2012 relating to internal use software was $62.7 million and $51.5 million, respectively. These costs are being amortized over the estimated useful life of the software, which is generally three to seven years, and are included in property and equipment in the accompanying consolidated balance sheets. The total amounts charged to expense relating to internal use software was approximately $58.6 million, $44.5 million and $37.2 million, during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Revenue Recognition | ' | |||||||||
Revenue Recognition | ||||||||||
Net revenues include the following categories: Product and licenses, Software as a service, License updates and maintenance and Professional services. Product and licenses revenues primarily represent fees related to the licensing of the Company’s software and hardware appliance products. These revenues are reflected net of sales allowances, cooperative advertising agreements, partner incentive programs and provisions for returns. Shipping charges billed to customers are included in Product and license revenue and the related shipping costs are included in Cost of product and license revenue. SaaS revenues consist primarily of fees related to online service agreements, which are recognized ratably over the contract term, which is typically 12 months. In addition, SaaS revenues may also include set-up fees, which are recognized ratably over the contract term or the expected customer life, whichever is longer. License updates and maintenance revenues consist of fees related to the Subscription Advantage program and maintenance fees, which include technical support and hardware and software maintenance. The Company licenses many of its virtualization products bundled with a one-year contract for its Subscription Advantage program. Subscription Advantage is a renewable program that provides subscribers with immediate access to software upgrades, enhancements and maintenance releases when and if they become available during the term of the contract. Subscription Advantage and maintenance fees are recognized ratably over the term of the contract, which is typically 12 to 24 months. The Company capitalizes certain third-party commissions related to Subscription Advantage renewals. The capitalized commissions are amortized to Sales, marketing and services expense at the time the related deferred revenue is recognized as revenue. Hardware and software maintenance and support contracts are typically sold separately. Hardware maintenance includes technical support, the latest software upgrades and replacement of malfunctioning appliances. Dedicated account management is available as an add-on to the program for a higher level of service. Software maintenance includes unlimited support with product version upgrades. Professional services revenues are comprised of fees from consulting services related to the implementation of the Company’s products and fees from product training and certification, which are recognized as the services are provided. | ||||||||||
The Company recognizes revenue when it is earned and when all of the following criteria are met: persuasive evidence of the arrangement exists; delivery has occurred or the service has been provided and the Company has no remaining obligations; the fee is fixed or determinable; and collectability is probable. The Company defines these four criteria as follows: | ||||||||||
• | Persuasive evidence of the arrangement exists. The Company primarily sells its software products via electronic licenses and typically requires a purchase order from the distributor, reseller or end-user (depending on the arrangement) who have previously negotiated a master distribution or resale agreement and an executed product license agreement from the end-user. For appliance sales, it is the Company’s customary practice to require a purchase order from distributors and resellers who have previously negotiated a master packaged product distribution or resale agreement. The Company typically recognizes revenue upon shipment for its appliance sales. For maintenance, technical support, product training and consulting services, the Company requires a purchase order and an executed agreement. For SaaS, the Company generally requires the customer or the reseller to electronically accept the terms of an online services agreement or execute a contract. | |||||||||
• | Delivery has occurred and the Company has no remaining obligations. The Company considers delivery of licenses under electronic licensing agreements to have occurred when the related products are shipped and the end-user has been electronically provided the software activation keys that allow the end-user to take immediate possession of the product. For hardware appliance sales, the Company’s standard delivery method is free-on-board shipping point. Consequently, it considers delivery of appliances to have occurred when they are shipped pursuant to an agreement and purchase order. For SaaS, delivery occurs upon providing the users with their login id and password. For product training and consulting services, the Company fulfills its obligation when the services are performed. For license updates and maintenance, the Company assumes that its obligation is satisfied ratably over the respective terms of the agreements, which are typically 12 to 24 months. For SaaS, the Company assumes that its obligation is satisfied ratably over the respective terms of the agreements, which are typically 12 months. | |||||||||
• | The fee is fixed or determinable. In the normal course of business, the Company does not provide customers the right to a refund of any portion of their license fees or extended payment terms. The fees are considered fixed or determinable upon establishment of an arrangement that contains the final terms of the sale including description, quantity and price of each product or service purchased. For SaaS, the fee is considered fixed or determinable if it is not subject to refund or adjustment. | |||||||||
• | Collectability is probable. The Company determines collectability on a customer-by-customer basis and generally does not require collateral. The Company typically sells product licenses and license updates to distributors or resellers for whom there are histories of successful collection. New customers are typically subject to a credit review process that evaluates their financial position and ultimately their ability to pay. Customers are also subject to an ongoing credit review process. If the Company determines from the outset of an arrangement that collectability is not probable, revenue recognition is deferred until customer payment is received and the other parameters of revenue recognition described above have been achieved. Management’s judgment is required in assessing the probability of collection, which is generally based on an evaluation of customer specific information, historical experience and economic market conditions. | |||||||||
The majority of the Company’s product and license revenue consists of revenue from the sale of stand-alone software products. Stand-alone software sales generally include a perpetual license to the Company’s software and is subject to the industry specific software revenue recognition guidance. In accordance with this guidance, the Company allocates revenue to license updates related to its stand-alone software and any other undelivered elements of the arrangement based on vendor specific objective evidence (“VSOE”) of fair value of each element and such amounts are deferred until the applicable delivery criteria and other revenue recognition criteria described above have been met. The balance of the revenues, net of any discounts inherent in the arrangement, is recognized at the outset of the arrangement using the residual method as the product licenses are delivered. If management cannot objectively determine the fair value of each undelivered element based on VSOE of fair value, revenue recognition is deferred until all elements are delivered, all services have been performed, or until fair value can be objectively determined. | ||||||||||
For hardware appliance and software transactions, the arrangement consideration is allocated to stand-alone software deliverables as a group and the non-software deliverables based on the relative selling prices using the selling price hierarchy in the revenue recognition guidance. The selling price hierarchy for a deliverable is based on its VSOE if available, third-party evidence of selling price ("TPE") if VSOE is not available, or estimated selling price ("ESP") if neither VSOE nor TPE is available. The Company then recognizes revenue on each deliverable in accordance with its policies for product and service revenue recognition. VSOE of selling price is based on the price charged when the element is sold separately. In determining VSOE, the Company requires that a substantial majority of the selling prices fall within a reasonable range based on historical discounting trends for specific products and services. TPE of selling price is established by evaluating competitor products or services in stand-alone sales to similarly situated customers. However, as the Company’s products contain a significant element of proprietary technology and its solutions offer substantially different features and functionality, the comparable pricing of products with similar functionality typically cannot be obtained. Additionally, as the Company is unable to reliably determine what competitors products’ selling prices are on a stand-alone basis, the Company is not typically able to determine TPE. The estimate of selling price is established considering multiple factors including, but not limited to, pricing practices in different geographies and through different sales channels and competitor pricing strategies. | ||||||||||
For the Company’s non-software transactions, it allocates the arrangement consideration based on the relative selling price of the deliverables. For the Company’s hardware appliances, it uses ESP as its selling price. For the Company’s support and services, it generally uses VSOE as its selling price. When the Company is unable to establish selling price using VSOE for its support and services, the Company uses ESP in its allocation of arrangement consideration. | ||||||||||
The Company’s SaaS products are considered service arrangements per the authoritative guidance; accordingly, the Company follows the provisions of Securities and Exchange Commission Staff Accounting Bulletin (“SAB”) No. 104, Revenue Recognition, when accounting for these service arrangements. Generally, the Company’s SaaS products are sold separately and not bundled with the Enterprise and Service Provider division’s products and services. | ||||||||||
In the normal course of business, the Company is not obligated to accept product returns from its distributors under any conditions, unless the product item is defective in manufacture. The Company establishes provisions for estimated returns, as well as other sales allowances, concurrently with the recognition of revenue. The provisions are established based upon consideration of a variety of factors, including, among other things, recent and historical return rates for both specific products and distributors and the impact of any new product releases and projected economic conditions. Product returns are provided for in the consolidated financial statements and have historically been within management’s expectations. Allowances for estimated product returns amounted to approximately $2.1 million and $2.6 million at December 31, 2013 and December 31, 2012, respectively. The Company also records estimated reductions to revenue for customer programs and incentive offerings including volume-based incentives. The Company could take actions to increase its customer incentive offerings, which could result in an incremental reduction to revenue at the time the incentive is offered. | ||||||||||
Product Concentration | ' | |||||||||
Product Concentration | ||||||||||
The Company derives a substantial portion of its revenues from its Mobile and Desktop products, which include its XenDesktop and XenApp products and related services, and anticipates that these products and future derivative products and product lines based upon this technology will continue to constitute a majority of its revenue. The Company could experience declines in demand for its Mobile and Desktop products and other products, whether as a result of general economic conditions, the delay or reduction in technology purchases, new competitive product releases, price competition, lack of success of its strategic partners, technological change or other factors. | ||||||||||
Cost of Net Revenues | ' | |||||||||
Cost of Net Revenues | ||||||||||
Cost of product and license revenues consists primarily of hardware, product media and duplication, manuals, packaging materials, shipping expense, server capacity costs. In addition, the Company is a party to licensing agreements with various entities, which give the Company the right to use certain software code in its products or in the development of future products in exchange for the payment of fixed fees or amounts based upon the sales of the related product. The licensing agreements generally have terms ranging from one to five years, and generally include renewal options. However, some agreements are perpetual unless expressly terminated. Royalties and other costs related to these agreements are included in cost of net revenues. Cost of services and maintenance revenue consists primarily of compensation and other personnel-related costs of providing technical support and consulting, as well as the Company’s SaaS. Also included in cost of net revenues is amortization of product related intangible assets which includes acquired core and product technology and associated patents. | ||||||||||
Foreign Currency | ' | |||||||||
Foreign Currency | ||||||||||
The functional currency for all of the Company’s wholly-owned foreign subsidiaries in its Enterprise and Service Provider division is the U.S. dollar. Monetary assets and liabilities of such subsidiaries are remeasured into U.S. dollars at exchange rates in effect at the balance sheet date, and revenues and expenses are remeasured at average rates prevailing during the year. The functional currency of the Company’s wholly-owned foreign subsidiaries of its SaaS division is the currency of the country in which each subsidiary is located. The Company translates assets and liabilities of these foreign subsidiaries at exchange rates in effect at the balance sheet date. The Company includes accumulated net translation adjustments in equity as a component of Accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are the result of exchange rate changes on transactions denominated in currencies other than the functional currency, including U.S. dollars. The remeasurement of those foreign currency transactions is included in determining net income or loss for the period of exchange. Remeasurement and foreign currency transaction (losses) gains of approximately $(4.9) million, $(3.3) million and $4.7 million for the years ended December 31, 2013, 2012, and 2011, respectively, are included in Other (expense) income, net, in the accompanying consolidated statements of income. | ||||||||||
Derivatives and Hedging Activities | ' | |||||||||
Derivatives and Hedging Activities | ||||||||||
In accordance with the authoritative guidance, the Company records derivatives at fair value as either assets or liabilities on the balance sheet. For derivatives that are designated as and qualify as effective cash flow hedges, the portion of gain or loss on the derivative instrument effective at offsetting changes in the hedged item is reported as a component of Accumulated other comprehensive income (loss) and reclassified into earnings as operating expense, net, when the hedged transaction affects earnings. Derivatives not designated as hedging instruments are adjusted to fair value through earnings as Other (expense) income, net, in the period during which changes in fair value occur. The application of the authoritative guidance could impact the volatility of earnings. | ||||||||||
The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes attributing all derivatives that are designated as cash flow hedges to floating rate assets or liabilities or forecasted transactions. The Company also formally assesses, both at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in offsetting changes in cash flows of the hedged item. Fluctuations in the value of the derivative instruments are generally offset by changes in the hedged item; however, if it is determined that a derivative is not highly effective as a hedge or if a derivative ceases to be a highly effective hedge, the Company will discontinue hedge accounting prospectively for the affected derivative. | ||||||||||
The Company is exposed to risk of default by its hedging counterparties. Although this risk is concentrated among a limited number of counterparties, the Company’s foreign exchange hedging policy attempts to minimize this risk by placing limits on the amount of exposure that may exist with any single financial institution at a time. | ||||||||||
Pension Liability | ' | |||||||||
Pension Liability | ||||||||||
The Company provides retirement benefits to certain employees who are not U.S. based. Generally, benefits under these programs are based on an employee’s length of service and level of compensation. The majority of these programs are commonly referred to as termination indemnities, which provide retirement benefits in accordance with programs mandated by the governments of the countries in which such employees work. | ||||||||||
The Company had accrued $9.2 million and $9.8 million for these pension liabilities at December 31, 2013 and 2012, respectively. Expenses for the programs for 2013, 2012 and 2011 amounted to $3.5 million, $1.5 million and $1.8 million, respectively. | ||||||||||
Advertising Costs | ' | |||||||||
Advertising Costs | ||||||||||
The Company expenses advertising costs as incurred. The Company has advertising agreements with, and purchases advertising from, online media providers to advertise its SaaS. The Company also has cooperative advertising agreements with certain distributors and resellers whereby the Company will reimburse distributors and resellers for qualified advertising of Company products. Reimbursement is made once the distributor, reseller or provider provides substantiation of qualified expenses. The Company estimates the impact of these expenses and recognizes them at the time of product sales as a reduction of net revenue in the accompanying consolidated statements of income. The total costs the Company recognized related to advertising were approximately $146.5 million, $137.5 million and $130.8 million, during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Income Taxes | ' | |||||||||
Income Taxes | ||||||||||
The Company and one or more of its subsidiaries is subject to United States federal income taxes, as well as income taxes of multiple state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years prior to 2009. | ||||||||||
In the ordinary course of global business, there are transactions for which the ultimate tax outcome is uncertain; thus, judgment is required in determining the worldwide provision for income taxes. The Company provides for income taxes on transactions based on its estimate of the probable liability. The Company adjusts its provision as appropriate for changes that impact its underlying judgments. Changes that impact provision estimates include such items as jurisdictional interpretations on tax filing positions based on the results of tax audits and general tax authority rulings. Due to the evolving nature of tax rules combined with the large number of jurisdictions in which the Company operates, estimates of its tax liability and the realizability of its deferred tax assets could change in the future, which may result in additional tax liabilities and adversely affect the Company’s results of operations, financial condition and cash flows. | ||||||||||
The Company is required to estimate its income taxes in each of the jurisdictions in which it operates as part of the process of preparing its consolidated financial statements. The authoritative guidance requires a valuation allowance to reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company reviews deferred tax assets periodically for recoverability and makes estimates and judgments regarding the expected geographic sources of taxable income and gains from investments, as well as tax planning strategies in assessing the need for a valuation allowance. | ||||||||||
Use of Estimates | ' | |||||||||
Use of Estimates | ||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates made by management include the provision for doubtful accounts receivable, the provision to reduce obsolete or excess inventory to market, the provision for estimated returns, as well as sales allowances, the assumptions used in the valuation of stock-based awards, the assumptions used in the discounted cash flows to mark certain of its investments to market, the valuation of the Company’s goodwill, net realizable value of product related and other intangible assets, the provision for vacant facility costs, the provision for income taxes and the amortization and depreciation periods for intangible and long-lived assets. While the Company believes that such estimates are fair when considered in conjunction with the consolidated financial position and results of operations taken as a whole, the actual amounts of such items, when known, will vary from these estimates. | ||||||||||
Accounting for Stock-Based Compensation | ' | |||||||||
Accounting for Stock-Based Compensation Plans | ||||||||||
The Company has various stock-based compensation plans for its employees and outside directors and accounts for stock-based compensation arrangements in accordance with the authoritative guidance, which requires the Company to measure and record compensation expense in its consolidated financial statements using a fair value method. See Note 7 for further information regarding the Company’s stock-based compensation plans. | ||||||||||
Net Income Per Share Attributable to Citrix Systems, Inc. Stockholders' | ' | |||||||||
Net Income Per Share Attributable to Citrix Systems, Inc. Stockholders | ||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic is calculated by dividing income available to stockholders by the weighted-average number of common shares outstanding during each period. Net income per share attributable to Citrix Systems, Inc. stockholders - diluted is computed using the weighted-average number of common and dilutive common share equivalents outstanding during the period. Dilutive common share equivalents consist of shares issuable upon the vesting or exercise of stock awards (calculated using the treasury stock method) during the period they were outstanding. Certain shares under the Company’s stock-based compensation programs were excluded from the computation of diluted earnings per share due to their anti-dilutive effect for the respective periods in which they were outstanding. The reconciliation of the numerator and denominator of the earnings per share calculation is presented in Note 13. | ||||||||||
Reclassifications | ' | |||||||||
Reclassifications | ||||||||||
Certain reclassifications of the prior years' amounts have been made to conform to the current year's presentation. In the Property and Equipment table above, the Company determined it was more practical to present Assets under construction on a separate line as opposed to including the amounts within each asset class. Therefore, the reclassifications only resulted in changes to the amounts between asset classes. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Property and Equipment | ' | |||||||||||||||||||||||||||||||
Property and equipment consist of the following: | ||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Buildings | $ | 85,092 | $ | 76,202 | ||||||||||||||||||||||||||||
Computer equipment | 204,110 | 178,948 | ||||||||||||||||||||||||||||||
Software | 316,902 | 259,225 | ||||||||||||||||||||||||||||||
Equipment and furniture | 105,145 | 86,362 | ||||||||||||||||||||||||||||||
Leasehold improvements | 168,990 | 149,731 | ||||||||||||||||||||||||||||||
880,239 | 750,468 | |||||||||||||||||||||||||||||||
Less accumulated depreciation and amortization | (597,268 | ) | (479,460 | ) | ||||||||||||||||||||||||||||
Assets under construction | 28,438 | 15,517 | ||||||||||||||||||||||||||||||
Land | 27,587 | 16,769 | ||||||||||||||||||||||||||||||
Total | $ | 338,996 | $ | 303,294 | ||||||||||||||||||||||||||||
Schedule of Changes in Goodwill | ' | |||||||||||||||||||||||||||||||
The following table presents the change in goodwill allocated to the Company’s reportable segments during 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||||||
Balance at January 1, 2013 | Additions | Other | Balance at December 31, 2013 | Balance at January 1, 2012 | Additions | Other | Balance at December 31, 2012 | |||||||||||||||||||||||||
Enterprise and Service Provider division | $ | 1,158,580 | $ | 248,800 | $ | (5,224 | ) | -2 | $ | 1,402,156 | $ | 956,504 | $ | 257,379 | $ | (55,303 | ) | -4 | $ | 1,158,580 | ||||||||||||
SaaS division | 359,639 | 2,668 | 4,486 | -3 | 366,793 | 282,616 | 26,481 | 50,542 | -4 | 359,639 | ||||||||||||||||||||||
Consolidated | $ | 1,518,219 | $ | 251,468 | -1 | $ | (738 | ) | $ | 1,768,949 | $ | 1,239,120 | $ | 283,860 | -1 | $ | (4,761 | ) | $ | 1,518,219 | ||||||||||||
(1) | Amount primarily relates to acquisitions. See Note 3 for more information regarding the Company’s acquisitions. | |||||||||||||||||||||||||||||||
(2) | Amount primarily relates to adjustments to the preliminary purchase price allocation for certain 2012 Acquisitions. | |||||||||||||||||||||||||||||||
(3) | ||||||||||||||||||||||||||||||||
Schedule of Intangible Assets | ' | |||||||||||||||||||||||||||||||
Intangible assets consist of the following (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||
Gross Carrying | Accumulated | Weighted-Average Life (Years) | ||||||||||||||||||||||||||||||
Amount | Amortization | |||||||||||||||||||||||||||||||
Product related intangible assets | $ | 677,509 | $ | 428,418 | 5.6 | |||||||||||||||||||||||||||
Other | 482,918 | 222,414 | 7.52 | |||||||||||||||||||||||||||||
Total | $ | 1,160,427 | $ | 650,832 | 6.38 | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Gross Carrying | Accumulated | Weighted-Average Life (Years) | ||||||||||||||||||||||||||||||
Amount | Amortization | |||||||||||||||||||||||||||||||
Product related intangible assets | $ | 620,032 | $ | 339,608 | 5.6 | |||||||||||||||||||||||||||
Other | 446,601 | 170,820 | 7.28 | |||||||||||||||||||||||||||||
Total | $ | 1,066,633 | $ | 510,428 | 6.29 | |||||||||||||||||||||||||||
Schedule of Estimated Future Annual Amortization Expense of Intangible Assets | ' | |||||||||||||||||||||||||||||||
Estimated future annual amortization expense is as follows (in thousands): | ||||||||||||||||||||||||||||||||
Year ending December 31, | ||||||||||||||||||||||||||||||||
2014 | $ | 132,956 | ||||||||||||||||||||||||||||||
2015 | 111,016 | |||||||||||||||||||||||||||||||
2016 | 88,749 | |||||||||||||||||||||||||||||||
2017 | 61,057 | |||||||||||||||||||||||||||||||
2018 | 47,618 | |||||||||||||||||||||||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combination, Description [Abstract] | ' | |||||||||||
Schedule of Allocation of Total Purchase Prices | ' | |||||||||||
The allocation of the total purchase prices are summarized below (in thousands): | ||||||||||||
Zenprise | 2013 Other Acquisitions | |||||||||||
Purchase Price Allocation | Asset Life | Purchase Price Allocation | Asset Life | |||||||||
Current assets | $ | 10,943 | $ | 3,586 | ||||||||
Other assets | 668 | — | ||||||||||
Property and equipment | 431 | Various | — | |||||||||
Deferred tax assets, non-current | 38,785 | 3,177 | ||||||||||
Intangible assets | 69,200 | 1-7 years | 11,300 | 5-6 years | ||||||||
Goodwill | 247,273 | Indefinite | 4,195 | Indefinite | ||||||||
Assets acquired | 367,300 | 22,258 | ||||||||||
Current liabilities assumed | (8,475 | ) | (3,950 | ) | ||||||||
Deferred tax liabilities, current | — | (2,000 | ) | |||||||||
Long-term liabilities assumed | (3,107 | ) | (1,000 | ) | ||||||||
Deferred tax liabilities, non-current | (28,725 | ) | (1,699 | ) | ||||||||
Net assets acquired | $ | 326,993 | $ | 13,609 | ||||||||
The purchase price for ByteMobile was allocated to the acquired net tangible and intangible assets based on its estimated fair value as of the date of the acquisition. The allocation of the total purchase price is summarized below (in thousands): | ||||||||||||
ByteMobile | ||||||||||||
Purchase Price Allocation | Asset Life | |||||||||||
Current assets | $ | 57,796 | ||||||||||
Other assets | 7,406 | |||||||||||
Property and equipment | 2,484 | Various | ||||||||||
Deferred tax assets, non-current | 44,934 | |||||||||||
Intangible assets | 248,900 | 1-9 years | ||||||||||
Goodwill | 221,914 | Indefinite | ||||||||||
Assets acquired | 583,434 | |||||||||||
Current liabilities assumed | (62,313 | ) | ||||||||||
Long-term liabilities assumed | (4,083 | ) | ||||||||||
Deferred tax liabilities, non-current | (111,904 | ) | ||||||||||
Net assets acquired | $ | 405,134 | ||||||||||
Schedule of Identifiable Intangible Assets Acquired in Connection with the 2013 Acquisitions | ' | |||||||||||
Identifiable intangible assets acquired in connection with the 2013 Acquisitions (in thousands) and the weighted-average lives are as follows: | ||||||||||||
Zenprise | Asset Life | 2013 Other Acquisitions | Asset Life | |||||||||
Trade names | $ | 2,400 | 3.0 years | $ | — | |||||||
Non-compete agreements | 700 | 1.0 year | — | |||||||||
Customer relationships | 18,300 | 7.0 years | 3,600 | 6.0 years | ||||||||
Core and product technologies | 47,800 | 6.0 years | 6,300 | 5.0 years | ||||||||
In-process R&D (1) | — | 1,400 | Indefinite | |||||||||
Total | $ | 69,200 | $ | 11,300 | ||||||||
Schedule of Pro Forma Information | ' | |||||||||||
The following unaudited pro-forma information combines the consolidated results of the operations of the Company and the 2013 Acquisitions as if the acquisitions had occurred at the beginning of fiscal year 2012 (in thousands, except per share data): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Revenues | $ | 2,921,604 | $ | 2,596,227 | ||||||||
Income from operations | 376,936 | 333,077 | ||||||||||
Net income | 336,250 | 314,300 | ||||||||||
Per share - basic | 1.8 | 1.68 | ||||||||||
Per share - diluted | 1.79 | 1.66 | ||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule Of Available-For-Sale Securities | ' | |||||||||||||||||||||||||||||||
Investments in available-for-sale securities at fair value were as follows for the periods ended (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Description of the Securities | Amortized | Gross | Gross | Fair Value | Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | |||||||||||||||||||||||||||||
Agency securities | $ | 453,922 | $ | 1,177 | $ | (349 | ) | $ | 454,750 | $ | 400,365 | $ | 2,347 | $ | (5 | ) | $ | 402,707 | ||||||||||||||
Corporate securities | 643,360 | 947 | (216 | ) | 644,091 | 404,546 | 947 | (171 | ) | 405,322 | ||||||||||||||||||||||
Municipal securities | 53,698 | 81 | (23 | ) | 53,756 | 32,214 | 114 | (15 | ) | 32,313 | ||||||||||||||||||||||
Government securities | 156,930 | 196 | (47 | ) | 157,079 | 39,863 | 131 | (1 | ) | 39,993 | ||||||||||||||||||||||
Total | $ | 1,307,910 | $ | 2,401 | $ | (635 | ) | $ | 1,309,676 | $ | 876,988 | $ | 3,539 | $ | (192 | ) | $ | 880,335 | ||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets And Liabilities Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||||||||||||||||
As of December 31, 2013 | Quoted | Significant | Significant | |||||||||||||
Prices In | Other | Unobservable | ||||||||||||||
Active Markets | Observable | Inputs (Level 3) | ||||||||||||||
for Identical | Inputs (Level 2) | |||||||||||||||
Assets (Level 1) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 227,528 | $ | 227,528 | $ | — | $ | — | ||||||||
Money market funds | 52,823 | 52,823 | — | — | ||||||||||||
Corporate securities | 389 | — | 389 | — | ||||||||||||
Available-for-sale securities: | ||||||||||||||||
Agency securities | 454,750 | — | 454,750 | — | ||||||||||||
Corporate securities | 644,091 | — | 633,801 | 10,291 | ||||||||||||
Municipal securities | 53,756 | — | 53,756 | — | ||||||||||||
Government securities | 157,079 | — | 157,079 | — | ||||||||||||
Prepaid expenses and other current assets: | ||||||||||||||||
Foreign currency derivatives | 4,952 | — | 4,952 | — | ||||||||||||
Total assets | $ | 1,595,368 | $ | 280,351 | $ | 1,304,727 | $ | 10,291 | ||||||||
Accrued expenses and other current liabilities: | ||||||||||||||||
Foreign currency derivatives | 1,743 | — | 1,743 | — | ||||||||||||
Total liabilities | $ | 1,743 | $ | — | $ | 1,743 | $ | — | ||||||||
As of December 31, 2012 | Quoted | Significant | Significant | |||||||||||||
Prices In | Other | Unobservable | ||||||||||||||
Active Markets | Observable | Inputs (Level 3) | ||||||||||||||
for Identical | Inputs (Level 2) | |||||||||||||||
Assets (Level 1) | ||||||||||||||||
(in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 503,614 | $ | 503,614 | $ | — | $ | — | ||||||||
Money market funds | 123,519 | 123,519 | — | — | ||||||||||||
Corporate securities | 16,476 | — | 16,476 | — | ||||||||||||
Available-for-sale securities: | ||||||||||||||||
Agency securities | 402,707 | — | 402,707 | — | ||||||||||||
Corporate securities | 405,322 | — | 401,981 | 3,341 | ||||||||||||
Municipal securities | 32,313 | — | 32,313 | — | ||||||||||||
Government securities | 39,993 | — | 39,993 | — | ||||||||||||
Prepaid expenses and other current assets: | ||||||||||||||||
Foreign currency derivatives | 4,157 | — | 4,157 | — | ||||||||||||
Total assets | $ | 1,528,101 | $ | 627,133 | $ | 897,627 | $ | 3,341 | ||||||||
Accrued expenses and other current liabilities: | ||||||||||||||||
Foreign currency derivatives | 4,162 | — | 4,162 | — | ||||||||||||
Total liabilities | $ | 4,162 | $ | — | $ | 4,162 | $ | — | ||||||||
Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs | ' | |||||||||||||||
Investments | ||||||||||||||||
(in thousands) | ||||||||||||||||
Balance at December 31, 2012 | $ | 3,341 | ||||||||||||||
Purchases of Level 3 securities | 9,700 | |||||||||||||||
Transfers out of Level 3 | (2,750 | ) | ||||||||||||||
Balance at December 31, 2013 | $ | 10,291 | ||||||||||||||
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ||||||||
Schedule of Accrued Expenses and Other Current Liabilities | ' | ||||||||
Accrued expenses consist of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Accrued compensation and employee benefits | $ | 141,065 | $ | 130,835 | |||||
Other accrued expenses | 116,541 | 126,300 | |||||||
Total | $ | 257,606 | $ | 257,135 | |||||
Employee_StockBased_Compensati1
Employee Stock-Based Compensation and Benefit Plans (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Detail Of The Total Stock-Based Compensation Recognized By Income Statement Classification | ' | |||||||||||||
The detail of the total stock-based compensation recognized by income statement classification is as follows (in thousands): | ||||||||||||||
Income Statement Classifications | 2013 | 2012 | 2011 | |||||||||||
Cost of services revenues | $ | 2,540 | $ | 2,111 | $ | 1,584 | ||||||||
Research and development | 63,448 | 54,616 | 31,763 | |||||||||||
Sales, marketing and services | 65,549 | 51,519 | 31,354 | |||||||||||
General and administrative | 52,404 | 41,694 | 28,208 | |||||||||||
Total | $ | 183,941 | $ | 149,940 | $ | 92,909 | ||||||||
Schedule of Stock Option Activity | ' | |||||||||||||
A summary of the status and activity of the Company’s fixed option awards is as follows: | ||||||||||||||
Options | Number of | Weighted- | Weighted- | Aggregate | ||||||||||
Options | Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | (in thousands) | ||||||||||||
Life | ||||||||||||||
(in years) | ||||||||||||||
Outstanding at December 31, 2012 | 7,589,532 | $ | 54.15 | 2.7 | ||||||||||
Assumed | 285,817 | 11.85 | ||||||||||||
Exercised | (2,168,531 | ) | 33.97 | |||||||||||
Forfeited or expired | (299,841 | ) | 60.9 | |||||||||||
Outstanding at December 31, 2013 | 5,406,977 | 59.64 | 2.15 | $ | 57,583 | |||||||||
Vested or expected to vest | 5,366,212 | 59.78 | 2.14 | $ | 56,548 | |||||||||
Exercisable at December 31, 2013 | 4,438,465 | 61.88 | 1.93 | $ | 38,167 | |||||||||
Assumptions Used To Value Option Grants | ' | |||||||||||||
The assumptions used to value options granted and/or assumed are as follows: | ||||||||||||||
Stock options granted or assumed during | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Expected volatility factor | 0.39 | 0.38 - 0.43 | 0.38 - 0.50 | |||||||||||
Approximate risk free interest rate | 0.40% | 0.5% - 0.7% | 0.6% - 1.1% | |||||||||||
Expected term (in years) | 3.35 | 3.91 | 3.27 - 3.91 | |||||||||||
Expected dividend yield | 0% | 0% | 0% | |||||||||||
The grant date fair value of the non-vested performance stock unit awards was determined through the use of a Monte Carlo simulation model, which utilized multiple input variables that determined the probability of satisfying the market condition requirements applicable to each award as follows: | ||||||||||||||
March 2013 Grant | March 2012 Grant | |||||||||||||
Expected volatility factor | 0.16 - 0.42 | 0.21 - 0.39 | ||||||||||||
Risk free interest rate | 0.33 | % | 0.47 | % | ||||||||||
Expected dividend yield | 0 | % | 0 | % | ||||||||||
Schedule of Nonvested Stock Unit Activity | ' | |||||||||||||
The following table summarizes the Company's non-vested stock unit activity for the year ended December 31, 2013: | ||||||||||||||
Number of | Weighted- | |||||||||||||
Shares | Average | |||||||||||||
Fair Value | ||||||||||||||
at Grant Date | ||||||||||||||
Non-vested stock units at December 31, 2012 | 3,607,561 | $ | 74.7 | |||||||||||
Granted | 2,765,386 | 71.84 | ||||||||||||
Vested | (1,375,165 | ) | 69.36 | |||||||||||
Forfeited | (365,803 | ) | 76.16 | |||||||||||
Non-vested stock units at December 31, 2013 | 4,631,979 | 74.47 | ||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Lease Commitments | ' | ||||||||
Lease commitments under non-cancelable operating leases with initial or remaining terms in excess of one year and sublease income associated with non-cancelable subleases, are as follows: | |||||||||
Operating | Sublease | ||||||||
Leases | Income | ||||||||
(In thousands) | |||||||||
Years ending December 31, | |||||||||
2014 | $ | 60,982 | $ | 255 | |||||
2015 | 46,770 | 260 | |||||||
2016 | 39,353 | 227 | |||||||
2017 | 22,064 | 218 | |||||||
2018 | 18,536 | 203 | |||||||
Thereafter | 88,885 | — | |||||||
Total | $ | 276,590 | $ | 1,163 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
United States and Foreign Components of Income Before Income Taxes | ' | ||||||||||||
The United States and foreign components of income before income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
United States | $ | 142,085 | $ | 200,802 | $ | 176,824 | |||||||
Foreign | 245,805 | 209,427 | 253,673 | ||||||||||
Total | $ | 387,890 | $ | 410,229 | $ | 430,497 | |||||||
Components of the Provision for Income Taxes | ' | ||||||||||||
The components of the provision for income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Current: | |||||||||||||
Federal | $ | 51,389 | $ | 81,019 | $ | 50,022 | |||||||
Foreign | 37,221 | 30,059 | 29,169 | ||||||||||
State | 11,605 | 17,395 | 11,905 | ||||||||||
Total current | 100,215 | 128,473 | 91,096 | ||||||||||
Deferred: | |||||||||||||
Federal | (34,897 | ) | (64,960 | ) | (8,631 | ) | |||||||
Foreign | (8,413 | ) | 1,409 | (4,792 | ) | ||||||||
State | (8,538 | ) | (7,240 | ) | (2,806 | ) | |||||||
Total deferred | (51,848 | ) | (70,791 | ) | (16,229 | ) | |||||||
Total provision | $ | 48,367 | $ | 57,682 | $ | 74,867 | |||||||
Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The significant components of the Company’s deferred tax assets and liabilities consisted of the following: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets: | |||||||||||||
Accruals and reserves | $ | 25,556 | $ | 36,128 | |||||||||
Deferred revenue | 55,688 | 41,820 | |||||||||||
Tax credits | 60,519 | 43,657 | |||||||||||
Net operating losses | 103,329 | 89,856 | |||||||||||
Other | 10,537 | 8,452 | |||||||||||
Stock based compensation | 72,074 | 54,852 | |||||||||||
Depreciation and amortization | 1,675 | — | |||||||||||
Valuation allowance | (26,465 | ) | (18,185 | ) | |||||||||
Total deferred tax assets | 302,913 | 256,580 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | — | (40,159 | ) | ||||||||||
Acquired technology | (136,258 | ) | (140,017 | ) | |||||||||
Prepaid expenses | (16,258 | ) | (17,093 | ) | |||||||||
Total deferred tax liabilities | (152,516 | ) | (197,269 | ) | |||||||||
Total net deferred tax assets | $ | 150,397 | $ | 59,311 | |||||||||
The following table presents the breakdown between current and non-current net deferred tax assets: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred tax assets - current | $ | 48,470 | $ | 36,846 | |||||||||
Deferred tax liabilities - current | (364 | ) | (876 | ) | |||||||||
Deferred tax assets- non current | 115,418 | 43,097 | |||||||||||
Deferred tax liabilities - non current | (13,127 | ) | (19,756 | ) | |||||||||
Total net deferred tax assets | $ | 150,397 | $ | 59,311 | |||||||||
Reconciliation of The Company's Effective Tax Rate to The Statutory Federal Rate | ' | ||||||||||||
A reconciliation of the Company’s effective tax rate to the statutory federal rate is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Federal statutory taxes | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal tax benefit | 1.2 | 1.9 | 1.7 | ||||||||||
Foreign operations | (14.8 | ) | (10.2 | ) | (14.5 | ) | |||||||
Permanent differences | (1.1 | ) | (2.0 | ) | 1.2 | ||||||||
Tax credits | (10.9 | ) | (4.7 | ) | (7.1 | ) | |||||||
Stock option compensation | 0.4 | 0.1 | 0.1 | ||||||||||
Change in accruals for uncertain tax positions | 3.3 | (5.3 | ) | 1.4 | |||||||||
Other | (0.6 | ) | (0.7 | ) | (0.4 | ) | |||||||
12.5 | % | 14.1 | % | 17.4 | % | ||||||||
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013 and 2012 is as follows (in thousands): | |||||||||||||
Balance at January 1, 2012 | $ | 79,199 | |||||||||||
Additions based on tax positions related to the current year | 2,459 | ||||||||||||
Additions for tax positions of prior years | 9,558 | ||||||||||||
Reductions related to the expiration of statutes of limitations | (33,594 | ) | |||||||||||
Settlements | (13,718 | ) | |||||||||||
Balance at December 31, 2012 | 43,904 | ||||||||||||
Additions based on tax positions related to the current year | 13,694 | ||||||||||||
Additions for tax positions of prior years | 10,611 | ||||||||||||
Reductions related to the expiration of statutes of limitations | (2,116 | ) | |||||||||||
Settlements | (2,301 | ) | |||||||||||
Balance at December 31, 2013 | $ | 63,792 | |||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Net Revenues And Profit By Segment | ' | |||||||||||
Net revenues and segment profit for 2013, 2012 and 2011 classified by the Company’s reportable segments, are presented below: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Net revenues: | ||||||||||||
Enterprise and Service Provider division | $ | 2,335,562 | $ | 2,074,800 | $ | 1,778,646 | ||||||
SaaS division | 582,872 | 511,323 | 427,746 | |||||||||
Consolidated | $ | 2,918,434 | $ | 2,586,123 | $ | 2,206,392 | ||||||
Segment profit: | ||||||||||||
Enterprise and Services Provider division | $ | 588,138 | $ | 562,794 | $ | 504,883 | ||||||
SaaS division | 116,061 | 92,498 | 76,147 | |||||||||
Unallocated expenses (1): | ||||||||||||
Amortization of intangible assets | (139,541 | ) | (114,574 | ) | (71,131 | ) | ||||||
Restructuring | — | — | (24 | ) | ||||||||
Net interest and other income | 7,173 | 19,451 | 13,531 | |||||||||
Stock-based compensation | (183,941 | ) | (149,940 | ) | (92,909 | ) | ||||||
Consolidated income before income taxes | $ | 387,890 | $ | 410,229 | $ | 430,497 | ||||||
(1) | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. | |||||||||||
Identifiable Assets By Segment | ' | |||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Identifiable assets: | ||||||||||||
Enterprise and Service Provider division | $ | 4,662,724 | $ | 4,246,292 | ||||||||
SaaS division | 549,525 | 550,110 | ||||||||||
Total identifiable assets | $ | 5,212,249 | $ | 4,796,402 | ||||||||
Identifiable and Long-Lived Assets by Product Grouping and Countries | ' | |||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Long-lived assets, net: | ||||||||||||
United States | $ | 258,114 | $ | 231,812 | ||||||||
United Kingdom | 29,382 | 30,633 | ||||||||||
Other countries | 51,500 | 40,849 | ||||||||||
Total long-lived assets, net | $ | 338,996 | $ | 303,294 | ||||||||
Revenues By Product Grouping | ' | |||||||||||
Revenues by product grouping for the Company’s Enterprise and Service Provider division and SaaS division were as follows for the years ended: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Net revenues: | ||||||||||||
Enterprise and Service Provider division | ||||||||||||
Mobile and Desktop revenues(1) | $ | 1,549,383 | $ | 1,450,850 | $ | 1,278,798 | ||||||
Networking and Cloud revenues(2) | 634,598 | 496,608 | 385,518 | |||||||||
Professional services(3) | 138,879 | 119,061 | 91,496 | |||||||||
Other | 12,702 | 8,281 | 22,834 | |||||||||
Total Enterprise and Service Provider division revenues | 2,335,562 | 2,074,800 | 1,778,646 | |||||||||
SaaS division revenues | 582,872 | 511,323 | 427,746 | |||||||||
Total net revenues | $ | 2,918,434 | $ | 2,586,123 | $ | 2,206,392 | ||||||
-1 | Mobile and Desktop revenues are primarily comprised of sales from the Company’s desktop and application virtualization products, XenDesktop and XenApp, and the Company's Mobility products, which include XenMobile and related license updates and maintenance and support. | |||||||||||
-2 | Networking and Cloud revenues are primarily comprised of sales from the Company’s cloud networking products, which include NetScaler, CloudBridge and ByteMobile Smart Capacity, and the Company’s cloud platform products which include XenServer, CloudPlatform and CloudPortal and related license updates and maintenance and support. | |||||||||||
-3 | Professional services revenues are primarily comprised of revenues from consulting services and product training and certification services. | |||||||||||
Revenues By Geographic Location | ' | |||||||||||
The following table presents revenues by segment and geographic location, for the years ended: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Net revenues: | ||||||||||||
Enterprise and Service Provider division | ||||||||||||
Americas | $ | 1,263,673 | $ | 1,106,801 | $ | 993,062 | ||||||
EMEA | 785,862 | 691,111 | 576,953 | |||||||||
Asia-Pacific | 286,027 | 276,888 | 208,631 | |||||||||
Total Enterprise and Service Provider division revenues | 2,335,562 | 2,074,800 | 1,778,646 | |||||||||
SaaS division | ||||||||||||
Americas | 488,307 | 433,263 | 367,260 | |||||||||
EMEA | 73,529 | 63,484 | 50,711 | |||||||||
Asia-Pacific | 21,036 | 14,576 | 9,775 | |||||||||
Total SaaS division revenues | 582,872 | 511,323 | 427,746 | |||||||||
Total net revenues | $ | 2,918,434 | $ | 2,586,123 | $ | 2,206,392 | ||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
Schedule of the Fair Values of Derivative Instruments | ' | |||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||
(In thousands) | ||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||
Derivatives Designated as | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | ||||||||||
Hedging Instruments | Location | Value | Location | Value | Location | Value | Location | Value | ||||||||||
Foreign currency forward contracts | Prepaid | $4,559 | Prepaid | $4,157 | Accrued | $1,578 | Accrued | $4,162 | ||||||||||
expenses | expenses | expenses | expenses | |||||||||||||||
and other | and other | and other | and other | |||||||||||||||
current | current | current | current | |||||||||||||||
assets | assets | liabilities | liabilities | |||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||
(In thousands) | ||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||
Derivatives Not Designated as | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | Balance Sheet | Fair | ||||||||||
Hedging Instruments | Location | Value | Location | Value | Location | Value | Location | Value | ||||||||||
Foreign currency forward contracts | Prepaid | $393 | Prepaid | $448 | Accrued | $165 | Accrued | $52 | ||||||||||
expenses | expenses | expenses | expenses | |||||||||||||||
and other | and other | and other | and other | |||||||||||||||
current | current | current | current | |||||||||||||||
assets | assets | liabilities | liabilities | |||||||||||||||
Schedule of Effect of Derivative Instruments on Financial Performance | ' | |||||||||||||||||
The Effect of Derivative Instruments on Financial Performance | ||||||||||||||||||
For the Year ended December 31, | ||||||||||||||||||
(In thousands) | ||||||||||||||||||
Derivatives in Cash Flow | Amount of Gain Recognized in Other | Location of Loss Reclassified | Amount of Loss Reclassified from | |||||||||||||||
Hedging Relationships | Comprehensive Income (Loss) | from Accumulated Other | Accumulated Other | |||||||||||||||
(Effective Portion) | Comprehensive Income (Loss) into Income | Comprehensive Income (Loss) | ||||||||||||||||
(Effective Portion) | (Effective Portion) | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Foreign currency forward contracts | $ | 2,862 | $ | 5,164 | Operating expenses | $ | (2,929 | ) | $ | (5,817 | ) | |||||||
For the Year ended December 31, | ||||||||||||||||||
(In thousands) | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income on | Amount of Gain (Loss) Recognized in Income on Derivative | ||||||||||||||||
Derivative | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Foreign currency forward contracts | Other (expense) income, net | $ | 3,138 | $ | (1,341 | ) | ||||||||||||
Currency Forward Contracts Outstanding | ' | |||||||||||||||||
As of December 31, 2013, the Company had the following net notional foreign currency forward contracts outstanding (in thousands): | ||||||||||||||||||
Foreign Currency | Currency | |||||||||||||||||
Denomination | ||||||||||||||||||
Australian dollars | AUD 8,012 | |||||||||||||||||
British pounds sterling | GBP 34,475 | |||||||||||||||||
Canadian dollars | CAD 6,714 | |||||||||||||||||
Chinese renminbi | CNY 81,250 | |||||||||||||||||
Danish krone | DKK 1,500 | |||||||||||||||||
Euro | EUR 27,820 | |||||||||||||||||
Hong Kong dollars | HKD 51,063 | |||||||||||||||||
Indian rupees | INR 1,201,622 | |||||||||||||||||
Japanese yen | JPY 169,004 | |||||||||||||||||
New Zealand dollars | NZD 300 | |||||||||||||||||
Singapore dollars | SGD 12,600 | |||||||||||||||||
Swiss francs | CHF 19,741 |
Net_Income_Per_Share_Attributa1
Net Income Per Share Attributable To Citrix Systems, Inc. Stockholders (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Net Income Per Share Basic And Diluted | ' | |||||||||||
The following table sets forth the computation of basic and diluted net income per share attributable to Citrix Systems, Inc. stockholders (in thousands, except per share information): | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator: | ||||||||||||
Net income attributable to Citrix Systems, Inc. stockholders | $ | 339,523 | $ | 352,547 | $ | 356,322 | ||||||
Denominator: | ||||||||||||
Denominator for basic earnings per share - weighted-average shares outstanding | 186,672 | 186,722 | 187,315 | |||||||||
Effect of dilutive employee stock awards: | ||||||||||||
Employee stock awards | 1,573 | 2,407 | 3,326 | |||||||||
Denominator for diluted earnings per share - weighted-average shares outstanding | 188,245 | 189,129 | 190,641 | |||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic | $ | 1.82 | $ | 1.89 | $ | 1.9 | ||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted | $ | 1.8 | $ | 1.86 | $ | 1.87 | ||||||
Anti-dilutive weighted-average shares | 3,647 | 3,464 | 2,576 | |||||||||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||
Schedule of Changes in Accumulated Other Comprehensive Income by Component | ' | |||||||||||||||||||
The changes in Accumulated other comprehensive income (loss) by component, net of tax, are as follows (in thousands): | ||||||||||||||||||||
Foreign currency | Unrealized gain (loss) on available-for-sale securities | Unrealized gain (loss) on derivative instruments | Other comprehensive gain (loss) on pension liability | Total | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Balance at December 31, 2012 | $ | (3,024 | ) | $ | 2,426 | $ | (10 | ) | $ | (7,097 | ) | $ | (7,705 | ) | ||||||
Other comprehensive income before reclassifications | 8,482 | (985 | ) | (67 | ) | 2,500 | 9,930 | |||||||||||||
Amounts reclassified from Accumulated other comprehensive income (loss) | — | (203 | ) | 2,929 | — | 2,726 | ||||||||||||||
Net current period other comprehensive income | 8,482 | (1,188 | ) | 2,862 | 2,500 | 12,656 | ||||||||||||||
Balance at December 31, 2013 | $ | 5,458 | $ | 1,238 | $ | 2,852 | $ | (4,597 | ) | $ | 4,951 | |||||||||
Schedule of Reclassification out of Accumulated Other Comprehensive Income | ' | |||||||||||||||||||
Reclassifications out of Accumulated other comprehensive income (loss) are as follows (in thousands): | ||||||||||||||||||||
For the Twelve Months Ended December 31, 2013 | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Details about Accumulated other comprehensive income (loss) components | Amount reclassified from Accumulated other comprehensive income (loss), net of tax | Affected line item in the Consolidated Statements of Income | ||||||||||||||||||
Unrealized net gain on available-for-sale securities | $ | 203 | Other (expense) income, net | |||||||||||||||||
Unrealized net losses on cash flow hedges | (2,929 | ) | Operating expenses * | |||||||||||||||||
$ | (2,726 | ) | ||||||||||||||||||
* Operating expenses amounts allocated to Research and development, Sales, marketing and services, and General and administrative are not individually significant. |
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||
Schedule of quarterly financial information (unaudited) | ' | ||||||||||||||||||||
First | Second | Third | Fourth | Total Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Net revenues | $ | 672,899 | $ | 730,384 | $ | 712,731 | $ | 802,420 | $ | 2,918,434 | |||||||||||
Gross margin | 557,985 | 603,144 | 588,798 | 665,712 | 2,415,639 | ||||||||||||||||
Income from operations | 56,608 | 75,888 | 87,367 | 160,854 | 380,717 | ||||||||||||||||
Net income attributable to Citrix Systems, Inc. | 59,688 | 64,461 | 76,730 | 138,644 | 339,523 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic | 0.32 | 0.34 | 0.41 | 0.75 | 1.82 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted | 0.32 | 0.34 | 0.41 | 0.74 | 1.8 | ||||||||||||||||
First | Second | Third | Fourth | Total Year | |||||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||
2012 | |||||||||||||||||||||
Net revenues | $ | 589,495 | $ | 615,210 | $ | 641,422 | $ | 739,996 | $ | 2,586,123 | |||||||||||
Gross margin | 503,152 | 520,852 | 535,354 | 622,628 | 2,181,986 | ||||||||||||||||
Income from operations | 80,750 | 82,192 | 82,415 | 145,421 | 390,778 | ||||||||||||||||
Net income attributable to Citrix Systems, Inc. | 68,267 | 92,006 | 78,245 | 114,029 | 352,547 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - basic | 0.37 | 0.49 | 0.42 | 0.61 | 1.89 | ||||||||||||||||
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted | 0.36 | 0.49 | 0.41 | 0.6 | 1.86 | ||||||||||||||||
Significant_Accounting_Policie3
Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Allowance for doubtful accounts | $3,300,000 | $3,800,000 | ' |
Estimated useful lives of intangible assets | '6 years 4 months 18 days | '6 years 3 months 15 days | ' |
Amount capitalized related to internal use software | 62,700,000 | 51,500,000 | ' |
Amount expensed related to internal use software | 58,600,000 | 44,500,000 | 37,200,000 |
Valuation Allowances and Reserves, Balance | 2,100,000 | 2,600,000 | ' |
Licensing agreement with subscription bundle, term | '1 year | ' | ' |
Remeasurement and foreign currency transaction gains (losses) | -4,900,000 | -3,300,000 | 4,700,000 |
Advertising costs | 146,500,000 | 137,500,000 | 130,800,000 |
Foreign postretirement benefit plans | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Termination indemnities | 9,200,000 | 9,800,000 | ' |
Termination indemnities, compensation expense | $3,500,000 | $1,500,000 | $1,800,000 |
Online service agreements | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Revenue recognition, period for recognition | '12 months | ' | ' |
Minimum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives of intangible assets | '3 years | ' | ' |
Licensing agreement term | '1 year | ' | ' |
Minimum | License update | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Revenue recognition, period for recognition | '12 months | ' | ' |
Maximum | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives of intangible assets | '7 years | ' | ' |
Licensing agreement term | '5 years | ' | ' |
Maximum | License update | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Revenue recognition, period for recognition | '24 months | ' | ' |
Weighted average | Online service agreements | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Revenue recognition, period for recognition | '12 months | ' | ' |
Customer concentration risk | Accounts receivable | Ingram Micro | ' | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' | ' |
Number of customers meeting concentration risk threshold | 1 | 1 | ' |
Concentration risk percentage | 10.00% | 11.00% | ' |
Significant_Accounting_Policie4
Significant Accounting Policies (Property and Equipment) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property and equipment, net | $338,996,000 | $303,294,000 |
Retirement of property and equipment | 10,300,000 | 5,300,000 |
Buildings | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 85,092,000 | 76,202,000 |
Estimated useful lives of property and equipment | '40 years | ' |
Computer equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 204,110,000 | 178,948,000 |
Estimated useful lives of property and equipment | '3 years | ' |
Software | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 316,902,000 | 259,225,000 |
Estimated useful lives of property and equipment | '3 years | ' |
Equipment and furniture | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 105,145,000 | 86,362,000 |
Estimated useful lives of property and equipment | '7 years | ' |
Leasehold improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 168,990,000 | 149,731,000 |
Leasehold improvements | Maximum | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful lives of property and equipment | '10 years | ' |
Depreciable assets | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 880,239,000 | 750,468,000 |
Less accumulated depreciation and amortization | -597,268,000 | -479,460,000 |
Assets under construction | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 28,438,000 | 15,517,000 |
Land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $27,587,000 | $16,769,000 |
Significant_Accounting_Policie5
Significant Accounting Policies (Changes in Goodwill) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | |||
Goodwill [Roll Forward] | ' | ' | ||
Beginning balance | $1,518,219,000 | $1,239,120,000 | ||
Additions | 251,468,000 | [1] | 283,860,000 | [1] |
Other | -738,000 | -4,761,000 | ||
Ending balance | 1,768,949,000 | 1,518,219,000 | ||
Enterprise and Service Provider division | ' | ' | ||
Goodwill [Roll Forward] | ' | ' | ||
Beginning balance | 1,158,580,000 | 956,504,000 | ||
Additions | 248,800,000 | 257,379,000 | ||
Other | -5,224,000 | [2] | -55,303,000 | [3] |
Ending balance | 1,402,156,000 | 1,158,580,000 | ||
SaaS division | ' | ' | ||
Goodwill [Roll Forward] | ' | ' | ||
Beginning balance | 359,639,000 | 282,616,000 | ||
Additions | 2,668,000 | 26,481,000 | ||
Other | 4,486,000 | [4] | 50,542,000 | [3] |
Ending balance | 366,793,000 | 359,639,000 | ||
ByteMobile | ' | ' | ||
Goodwill [Roll Forward] | ' | ' | ||
Ending balance | 221,914,000 | ' | ||
Purchase accounting adjustments | $3,300,000 | ' | ||
[1] | Amount primarily relates to acquisitions. See Note 3 for more information regarding the Companybs acquisitions. | |||
[2] | Amount primarily relates to adjustments to the preliminary purchase price allocation for certain 2012 Acquisitions. | |||
[3] | Amount primarily relates to reclassification of goodwill between segments. In the first quarter of 2012, the Company transferred the business acquired in its acquisition of Novell Labs, Inc. (d/b/a "ShareFile") from its Enterprise and Service Provider division to its SaaS division. Also included in the SaaS division is foreign currency translation. | |||
[4] | Amount primarily relates to foreign currency translation. |
Significant_Accounting_Policie6
Significant Accounting Policies (Intangible Assets) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $1,160,427,000 | $1,066,633,000 |
Accumulated Amortization | 650,832,000 | 510,428,000 |
Weighted-Average Life (Years) | '6 years 4 months 18 days | '6 years 3 months 15 days |
Impairment of intangible assets | 0 | ' |
Product related intangible assets | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 677,509,000 | 620,032,000 |
Accumulated Amortization | 428,418,000 | 339,608,000 |
Weighted-Average Life (Years) | '5 years 7 months 6 days | '5 years 7 months 6 days |
Other | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 482,918,000 | 446,601,000 |
Accumulated Amortization | 222,414,000 | 170,820,000 |
Weighted-Average Life (Years) | '7 years 6 months 8 days | '7 years 3 months 11 days |
Patents | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted-Average Life (Years) | '10 years | ' |
Trade names | Cloud.com | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Impairment of intangible assets | ' | 5,200,000 |
Net carrying amount after write-down | ' | $0 |
Minimum | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted-Average Life (Years) | '3 years | ' |
Maximum | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted-Average Life (Years) | '7 years | ' |
Significant_Accounting_Policie7
Significant Accounting Policies (Estimated Future Annual Amortization Expense of Intangible Assets) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | ' |
2014 | $132,956 |
2015 | 111,016 |
2016 | 88,749 |
2017 | 61,057 |
2018 | $47,618 |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2012 | Dec. 31, 2013 | Apr. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jan. 08, 2014 | |||
Enterprise and Service Provider division | Enterprise and Service Provider division | Zenprise | Zenprise | ByteMobile | ByteMobile | Podio | Podio | Podio | 2012 Other Acquisitions | 2012 Other Acquisitions | 2012 Other Acquisitions | 2012 Other Acquisitions | 2012 Other Acquisitions | 2012 Other Acquisitions | 2012 Other Acquisitions | 2013 Other Acquisitions | 2013 Other Acquisitions | 2013 Other Acquisitions | 2013 Other Acquisitions | Subsequent Event [Member] | |||||
Product Related Technologies | Other | acquisitions | acquisitions | Enterprise and Service Provider division | Product Related Technologies | acquisitions | Maximum | Framehawk, Inc. [Member] | |||||||||||||||||
acquisitions | |||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Total consideration in business acquisitions | ' | ' | ' | ' | $324,000,000 | ' | $399,500,000 | ' | $43,600,000 | ' | ' | $5,300,000 | $15,400,000 | $24,600,000 | ' | ' | ' | ' | $5,500,000 | $5,300,000 | ' | ' | $27,900,000 | ||
Contingent consideration amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ||
Cash acquired from the acquisition | ' | ' | ' | ' | 2,900,000 | ' | 5,600,000 | ' | 1,700,000 | ' | ' | ' | 200,000 | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ||
Acquisition transaction costs | ' | ' | ' | ' | 600,000 | 100,000 | 2,100,000 | ' | 500,000 | ' | ' | 200,000 | 400,000 | 500,000 | ' | ' | ' | ' | 200,000 | 200,000 | 200,000 | ' | 100,000 | ||
Acquisition transaction costs expensed during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ||
Unvested stock options assumed in business acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 127,668 | ' | ' | 13,487 | 66,459 | 13,481 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stock options converted and assumed (in shares) | ' | ' | ' | ' | 285,817 | ' | ' | ' | ' | ' | ' | ' | ' | 12,017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of privately-held businesses acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | 1 | ' | ' | ' | 2 | ' | ' | ||
Net adjustment to preliminary purchase price allocation | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Goodwill acquired | 251,468,000 | [1] | 283,860,000 | [1] | 248,800,000 | 257,379,000 | ' | ' | ' | ' | 24,500,000 | ' | ' | ' | ' | 22,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived Intangible assets acquired | ' | ' | ' | ' | ' | $69,200,000 | ' | $248,900,000 | $24,600,000 | $20,700,000 | $3,900,000 | ' | ' | ' | ' | ' | ' | $11,000,000 | $11,300,000 | ' | $11,300,000 | ' | ' | ||
[1] | Amount primarily relates to acquisitions. See Note 3 for more information regarding the Companybs acquisitions. |
Acquisitions_Allocation_of_Tot
Acquisitions (Allocation of Total Purchase Prices) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Zenprise | Zenprise | Zenprise | 2013 Other Acquisitions | 2013 Other Acquisitions | 2013 Other Acquisitions | ByteMobile | ByteMobile | ByteMobile | |||
Minimum | Maximum | Minimum | Maximum | Minimum | Maximum | |||||||
Purchase Price Allocation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | ' | ' | ' | $10,943 | ' | ' | $3,586 | ' | ' | $57,796 | ' | ' |
Other assets | ' | ' | ' | 668 | ' | ' | 0 | ' | ' | 7,406 | ' | ' |
Property and equipment | ' | ' | ' | 431 | ' | ' | 0 | ' | ' | 2,484 | ' | ' |
Deferred tax assets, non-current | ' | ' | ' | 38,785 | ' | ' | 3,177 | ' | ' | 44,934 | ' | ' |
Intangible assets | ' | ' | ' | 69,200 | ' | ' | 11,300 | ' | ' | 248,900 | ' | ' |
Goodwill | 1,768,949 | 1,518,219 | 1,239,120 | 247,273 | ' | ' | 4,195 | ' | ' | 221,914 | ' | ' |
Assets acquired | ' | ' | ' | 367,300 | ' | ' | 22,258 | ' | ' | 583,434 | ' | ' |
Current liabilities assumed | ' | ' | ' | -8,475 | ' | ' | -3,950 | ' | ' | -62,313 | ' | ' |
Deferred tax liabilities, current | ' | ' | ' | 0 | ' | ' | -2,000 | ' | ' | ' | ' | ' |
Long-term liabilities assumed | ' | ' | ' | -3,107 | ' | ' | -1,000 | ' | ' | -4,083 | ' | ' |
Deferred tax liabilities, non-current | ' | ' | ' | -28,725 | ' | ' | -1,699 | ' | ' | -111,904 | ' | ' |
Net assets acquired | ' | ' | ' | $326,993 | ' | ' | $13,609 | ' | ' | $405,134 | ' | ' |
Finite-lived intangible assets acquired, Asset Life | ' | ' | ' | ' | '1 year | '7 years | ' | '5 years | '6 years | ' | '1 year | '9 years |
Acquisitions_Identifiable_Inta
Acquisitions (Identifiable Intangible Assets Acquired) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Zenprise | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | $69,200 | |
Zenprise | Trade names | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 2,400 | |
Finite-lived intangible assets acquired, Asset Life | '3 years | |
Zenprise | Non-compete agreements | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 700 | |
Finite-lived intangible assets acquired, Asset Life | '1 year | |
Zenprise | Customer relationships | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 18,300 | |
Finite-lived intangible assets acquired, Asset Life | '7 years | |
Zenprise | Core and product technologies | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 47,800 | |
Finite-lived intangible assets acquired, Asset Life | '6 years | |
Zenprise | In-process R&D | ' | |
Business Acquisition [Line Items] | ' | |
Indefinite-lived intangible assets acquired | 0 | [1] |
2013 Other Acquisitions | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 11,300 | |
2013 Other Acquisitions | Trade names | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 0 | |
2013 Other Acquisitions | Non-compete agreements | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 0 | |
2013 Other Acquisitions | Customer relationships | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 3,600 | |
Finite-lived intangible assets acquired, Asset Life | '6 years | |
2013 Other Acquisitions | Core and product technologies | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 6,300 | |
Finite-lived intangible assets acquired, Asset Life | '5 years | |
2013 Other Acquisitions | In-process R&D | ' | |
Business Acquisition [Line Items] | ' | |
Indefinite-lived intangible assets acquired | 1,400 | [1] |
ByteMobile | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 248,900 | |
ByteMobile | Trade names | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 6,000 | |
Finite-lived intangible assets acquired, Asset Life | '6 years | |
ByteMobile | Customer relationships | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | 141,500 | |
Finite-lived intangible assets acquired, Asset Life | '9 years | |
ByteMobile | Core and product technologies | ' | |
Business Acquisition [Line Items] | ' | |
Finite-lived Intangible assets acquired | $101,400 | |
Finite-lived intangible assets acquired, Asset Life | '4 years 9 months 18 days | |
[1] | Capitalized acquired in-process R&D costs will remain capitalized until such time as the projects are complete, at which point they will be amortized, or they will be written off when it is probable the projects will not be completed. |
Acquisitions_Pro_Forma_Informa
Acquisitions (Pro Forma Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition, Pro Forma Information [Abstract] | ' | ' |
Revenues | $2,921,604 | $2,596,227 |
Income from operations | 376,936 | 333,077 |
Net income | $336,250 | $314,300 |
Per share - basic (in dollars per share) | $1.80 | $1.68 |
Per share - diluted (in dollars per share) | $1.79 | $1.66 |
Acquisitions_Subsequent_Events
Acquisitions (Subsequent Events) (Details) (Subsequent Event [Member], Framehawk, Inc. [Member], USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Jan. 08, 2014 |
Subsequent Event [Member] | Framehawk, Inc. [Member] | ' |
Subsequent Event [Line Items] | ' |
Preliminary consideration in business acquisition | $27.90 |
Cash acquired from the acquisition | 0.3 |
Estimated acquisition transaction costs | $0.10 |
Investments_Narrative_Details
Investments (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Investment [Line Items] | ' | ' | ' |
Average remaining maturities for short-term available for sale investments, in months | '5 months | ' | ' |
Average remaining maturities for long-term available for sale investments, in years | '3 years | ' | ' |
Realized gains on the sales of available-for-sale investments | $3,000,000 | $4,100,000 | ' |
Realized losses on the sales of available-for-sale investments | 2,700,000 | 800,000 | ' |
Available-for-sale investments, carrying value | 1,307,910,000 | 876,988,000 | ' |
Available-for-sale investments, fair value | 1,309,676,000 | 880,335,000 | ' |
Other than temporary charge included in income | 0 | 2,500,000 | ' |
Gross unrealized losses | 635,000 | 192,000 | ' |
Cost method investments | 24,300,000 | 26,200,000 | ' |
Cost method investments, gain recorded on cost method investments | 6,000,000 | 16,500,000 | ' |
Cost method investment, impairment charge included other income | 3,700,000 | 3,500,000 | 3,500,000 |
Other-than-temporary impairment | ' | ' | ' |
Investment [Line Items] | ' | ' | ' |
Available-for-sale investments, carrying value | ' | 5,000,000 | ' |
Available-for-sale investments, fair value | ' | $2,500,000 | ' |
Investments_Schedule_Of_Availa
Investments (Schedule Of Available-For-Sale Securities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment [Line Items] | ' | ' |
Amortized Cost | $1,307,910 | $876,988 |
Gross Unrealized Gains | 2,401 | 3,539 |
Gross Unrealized Losses | -635 | -192 |
Fair Value | 1,309,676 | 880,335 |
Agency securities | ' | ' |
Investment [Line Items] | ' | ' |
Amortized Cost | 453,922 | 400,365 |
Gross Unrealized Gains | 1,177 | 2,347 |
Gross Unrealized Losses | -349 | -5 |
Fair Value | 454,750 | 402,707 |
Corporate securities | ' | ' |
Investment [Line Items] | ' | ' |
Amortized Cost | 643,360 | 404,546 |
Gross Unrealized Gains | 947 | 947 |
Gross Unrealized Losses | -216 | -171 |
Fair Value | 644,091 | 405,322 |
Municipal securities | ' | ' |
Investment [Line Items] | ' | ' |
Amortized Cost | 53,698 | 32,214 |
Gross Unrealized Gains | 81 | 114 |
Gross Unrealized Losses | -23 | -15 |
Fair Value | 53,756 | 32,313 |
Government securities | ' | ' |
Investment [Line Items] | ' | ' |
Amortized Cost | 156,930 | 39,863 |
Gross Unrealized Gains | 196 | 131 |
Gross Unrealized Losses | -47 | -1 |
Fair Value | $157,079 | $39,993 |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Recurring basis | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Total assets | $1,595,368 | $1,528,101 |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Total liabilities | 1,743 | 4,162 |
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Total assets | 280,351 | 627,133 |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Total liabilities | 0 | 0 |
Recurring basis | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Total assets | 1,304,727 | 897,627 |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Total liabilities | 1,743 | 4,162 |
Recurring basis | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Total assets | 10,291 | 3,341 |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Total liabilities | 0 | 0 |
Cash and cash equivalents | Corporate securities | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 389 | ' |
Cash and cash equivalents | Corporate securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 0 | ' |
Cash and cash equivalents | Corporate securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 389 | ' |
Cash and cash equivalents | Corporate securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 0 | ' |
Cash and cash equivalents | Recurring basis | Cash | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 227,528 | 503,614 |
Cash and cash equivalents | Recurring basis | Cash | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 227,528 | 503,614 |
Cash and cash equivalents | Recurring basis | Cash | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 0 | 0 |
Cash and cash equivalents | Recurring basis | Cash | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 0 | 0 |
Cash and cash equivalents | Recurring basis | Money market funds | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 52,823 | 123,519 |
Cash and cash equivalents | Recurring basis | Money market funds | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 52,823 | 123,519 |
Cash and cash equivalents | Recurring basis | Money market funds | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 0 | 0 |
Cash and cash equivalents | Recurring basis | Money market funds | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | 0 | 0 |
Cash and cash equivalents | Recurring basis | Corporate securities | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | ' | 16,476 |
Cash and cash equivalents | Recurring basis | Corporate securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | ' | 0 |
Cash and cash equivalents | Recurring basis | Corporate securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | ' | 16,476 |
Cash and cash equivalents | Recurring basis | Corporate securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Cash and cash equivalents | ' | 0 |
Available-for-sale securities | Recurring basis | Corporate securities | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 644,091 | 405,322 |
Available-for-sale securities | Recurring basis | Corporate securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Available-for-sale securities | Recurring basis | Corporate securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 633,801 | 401,981 |
Available-for-sale securities | Recurring basis | Corporate securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 10,291 | 3,341 |
Available-for-sale securities | Recurring basis | Agency securities | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 454,750 | 402,707 |
Available-for-sale securities | Recurring basis | Agency securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Available-for-sale securities | Recurring basis | Agency securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 454,750 | 402,707 |
Available-for-sale securities | Recurring basis | Agency securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Available-for-sale securities | Recurring basis | Municipal securities | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 53,756 | 32,313 |
Available-for-sale securities | Recurring basis | Municipal securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Available-for-sale securities | Recurring basis | Municipal securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 53,756 | 32,313 |
Available-for-sale securities | Recurring basis | Municipal securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Available-for-sale securities | Recurring basis | Government securities | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 157,079 | 39,993 |
Available-for-sale securities | Recurring basis | Government securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Available-for-sale securities | Recurring basis | Government securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 157,079 | 39,993 |
Available-for-sale securities | Recurring basis | Government securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Prepaid expenses and other current assets | Recurring basis | Estimate of fair value measurement | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 4,952 | 4,157 |
Prepaid expenses and other current assets | Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 0 | 0 |
Prepaid expenses and other current assets | Recurring basis | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 4,952 | 4,157 |
Prepaid expenses and other current assets | Recurring basis | Significant Unobservable Inputs (Level 3) | ' | ' |
Assets, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 0 | 0 |
Accrued expenses and other current liabilities | Recurring basis | Estimate of fair value measurement | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 1,743 | 4,162 |
Accrued expenses and other current liabilities | Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 0 | 0 |
Accrued expenses and other current liabilities | Recurring basis | Significant Other Observable Inputs (Level 2) | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | 1,743 | 4,162 |
Accrued expenses and other current liabilities | Recurring basis | Significant Unobservable Inputs (Level 3) | ' | ' |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' |
Foreign currency derivatives | $0 | $0 |
Fair_Value_Measurements_Assets1
Fair Value Measurements (Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' |
Cost method investments | $24,300,000 | $26,200,000 | ' |
Cost method investments, fair value of impaired investment | 5,600,000 | 9,500,000 | ' |
Cost method investment, impairment charge | 3,700,000 | 3,500,000 | 3,500,000 |
Impaired investments | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' |
Cost method investments | 9,300,000 | 13,000,000 | ' |
Convertible debt securities | Level 3 | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' |
Balance at December 31, 2012 | 3,341,000 | ' | ' |
Purchases of Level 3 securities | 9,700,000 | ' | ' |
Transfers out of Level 3 | -2,750,000 | ' | ' |
Balance at December 31, 2013 | $10,291,000 | ' | ' |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities (Schedule of Accrued Expenses and Other Current Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ' | ' |
Accrued compensation and employee benefits | $141,065 | $130,835 |
Other accrued expenses | 116,541 | 126,300 |
Total | $257,606 | $257,135 |
Employee_StockBased_Compensati2
Employee Stock-Based Compensation and Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | ||||
plan | Defined contribution pension | Defined contribution pension | Defined contribution pension | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Market and service condition stock units | Market and service condition stock units | Market and service condition stock units | 2005 Plan | 2005 Plan | 2005 Plan | 2005 ESPP Plan | 2005 ESPP Plan | 2005 ESPP Plan | 2005 ESPP Plan | 2005 ESPP Plan | ||||||
Minimum | Minimum | Maximum | First anniversary of date of grant | Equal monthly installments after first anniversary of date of grant | installment | Annual vesting on each anniversary | Third anniversary | Minimum | Maximum | Minimum | Maximum | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of stock-based compensation plans offered | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Shares authorized for issuance under 2005 Equity Incentive Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,600,000 | ' | ' | 10,000,000 | ' | ' | ' | ' | |||
Ownership percentage of company where incentive stock options must be granted with an exercise price greater than fair market value (more than 10%) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | |||
Exercise price of incentive stock options granted to individuals owning 10% or more of the Company's common stock, as a percentage of fair market value of common stock on the date of grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.00% | ' | ' | ' | ' | ' | ' | |||
Shares reserved for issuance under the 2005 Equity Incentive Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,960,367 | ' | ' | ' | ' | ' | ' | ' | |||
Shares available for grant under the 2005 Equity Incentive Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,605,208 | ' | ' | ' | ' | ' | ' | ' | |||
Employee Stock Purchase Plan, payment period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | |||
Employee Stock Purchase Plan, Option to Purchase Shares Through Payroll Deduction, Payroll Deduction Amount Per Pay Period Per Employee, as a Percentage of Base Pay | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 10.00% | |||
Employee Stock Purchase Plan, maximum number of shares per period that employees can purchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | ' | ' | ' | ' | |||
Employee Stock Purchase Plan, purchase price as a percentage of fair market value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | |||
Employee Stock Purchase Plan, employee disqualification, ownership percent of outstanding stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | |||
Employee Stock Purchase Plan, total shares issued under plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,991,834 | ' | ' | ' | ' | |||
Stock-based compensation | $183,941,000 | [1] | $149,940,000 | [1] | $92,909,000 | [1] | ' | ' | ' | $48,900,000 | $56,400,000 | $48,200,000 | ' | ' | ' | ' | ' | ' | ' | $130,200,000 | $89,500,000 | $40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $4,900,000 | $4,000,000 | $3,500,000 | ' | ' |
Stock-based compensation related deferred tax assets | 57,100,000 | 46,700,000 | 28,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Tax benefit from compensation expense | 55,700,000 | 65,800,000 | 67,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Award expiration period | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Stock option vesting period | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Award vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.30% | 2.78% | ' | ' | ' | ' | ' | 33.33% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Options assumed from acquisitions, award vesting period | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total unrecognized compensation cost related to stock-based compensation | ' | ' | ' | ' | ' | ' | 29,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 237,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
The total intrinsic value of options exercised | ' | ' | ' | ' | ' | ' | 77,700,000 | 131,400,000 | 169,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
The weighted average fair value per share of stock options granted (in dollars per share) | $56.97 | $23.95 | $29.91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total unrecognized compensation cost recognition period (in years) | ' | ' | ' | ' | ' | ' | '1 year 2 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 11 months 16 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Non-vested stock unit awards granted to senior level employees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,765,386 | ' | ' | ' | ' | 399,029 | 418,809 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Period to determine actual stock grant following end of performance period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | |||
Performance period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | |||
Maximum percentage of market and service condition stock units that will ultimately vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Minimum overperformance percentage against benchmark index return for maximum stock issuance, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Maximum underperformance against benchmark index return before company discontinues issuance of stock, percentage (more than 20%) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Percent of award issued if return is negative but benchmark index is met | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of shares represented by each award upon vesting | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Expected volatility rate, calculation basis, period | ' | ' | ' | ' | ' | ' | '3 years 4 months 6 days | ' | ' | '3 years 10 months 28 days | '3 years 3 months 7 days | '3 years 10 months 28 days | ' | ' | ' | ' | '2 years 9 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $89.93 | $89.95 | $71.84 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Share-based compensation award, stock vesting period, monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Fair value of awards released | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95,400,000 | 50,300,000 | 21,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
401(k) Benefit Plan [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Maximum annual contribution per employee (as a percent) | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Contribution per dollar of employee contribution | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Matching percent | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Employer contributions | ' | ' | ' | $12,700,000 | $10,500,000 | $9,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Employer contributions, vesting period | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Employer contributions, annual vesting rate | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
[1] | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. |
Employee_StockBased_Compensati3
Employee Stock-Based Compensation and Benefit Plans (Detail of the Total Stock-Based Compensation Recognized by Income Statement Classification) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Stock-based compensation | $183,941 | [1] | $149,940 | [1] | $92,909 | [1] |
Cost of services revenues | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Stock-based compensation | 2,540 | 2,111 | 1,584 | |||
Research and development | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Stock-based compensation | 63,448 | 54,616 | 31,763 | |||
Sales, marketing and services | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Stock-based compensation | 65,549 | 51,519 | 31,354 | |||
General and administrative | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Stock-based compensation | $52,404 | $41,694 | $28,208 | |||
[1] | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. |
Employee_StockBased_Compensati4
Employee Stock-Based Compensation and Benefit Plans (Schedule of Stock Option Activity) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Number of Options | ' | ' |
Outstanding at December 31, 2012 (in shares) | 7,589,532 | ' |
Assumed (in shares) | 285,817 | ' |
Exercised (in shares) | -2,168,531 | ' |
Forfeited or expired (in shares) | -299,841 | ' |
Outstanding at December 31, 2013 (in shares) | 5,406,977 | 7,589,532 |
Weighted- Average Exercise Price | ' | ' |
Outstanding at December 31, 2012 (in dollars per share) | $54.15 | ' |
Assumed (in dollars per share) | $11.85 | ' |
Exercised (in dollars per share) | $33.97 | ' |
Forfeited or expired (in dollars per share) | $60.90 | ' |
Outstanding at December 31, 2013 (in dollars per share) | $59.64 | $54.15 |
Additional Disclosures on Options | ' | ' |
Weighted- Average Remaining Contractual Life, Outstanding at December 31, 2012 (in years) | '2 years 1 month 25 days | '2 years 8 months 12 days |
Aggregate Intrinsic Value, Outstanding at December 31, 2013 | $57,583 | ' |
Weighted- Average Remaining Contractual Life, Outstanding at December 31, 2013 (in years) | '2 years 1 month 25 days | '2 years 8 months 12 days |
Exercisable at December 31, 2013 (in shares) | 4,438,465 | ' |
Weighted Average Exercise Price, Exercisable at December 31, 2013 (in dollars per share) | $61.88 | ' |
Weighted-Average Remaining Contractual Life, Exercisable at December 31, 2013 (in years) | '1 year 11 months 5 days | ' |
Aggregate intrinsic value, options exercisable at December 31, 2013 | 38,167 | ' |
Vested or expected to vest | ' | ' |
Vested or expected to vest (in shares) | 5,366,212 | ' |
Weighted- Average Exercise Price (in dollars per share) | $59.78 | ' |
Weighted- Average Remaining Contractual Life (in years) | '2 years 1 month 20 days | ' |
Aggregate Intrinsic Value | $56,548 | ' |
Employee_StockBased_Compensati5
Employee Stock-Based Compensation and Benefit Plans (Assumptions Used To Value Option Grants) (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Mar. 31, 2012 | |
Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Employee sock option | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | Non-vested stock | |
Minimum | Minimum | Maximum | Maximum | Minimum | Minimum | Maximum | Maximum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volatility factor | 39.00% | ' | ' | 38.00% | 38.00% | 43.00% | 50.00% | ' | ' | ' | 16.00% | 21.00% | 42.00% | 39.00% |
Approximate risk free interest rate | 0.40% | ' | ' | 0.50% | 0.60% | 0.70% | 1.10% | 0.33% | 0.47% | ' | ' | ' | ' | ' |
Expected term (in years) | '3 years 4 months 6 days | ' | ' | '3 years 10 months 28 days | '3 years 3 months 7 days | ' | '3 years 10 months 28 days | ' | ' | '2 years 9 months | ' | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' |
Employee_StockBased_Compensati6
Employee Stock-Based Compensation and Benefit Plans (Schedule of Non-vested Stock Unit Activity) (Details) (Non-vested stock, USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | |
Non-vested stock | ' | ' | ' |
Number of Shares | ' | ' | ' |
Non-vested stock units at December 31, 2012 (in shares) | 3,607,561 | ' | 3,607,561 |
Granted (in shares) | ' | ' | 2,765,386 |
Vested (in shares) | ' | ' | -1,375,165 |
Forfeited (in shares) | ' | ' | -365,803 |
Non-vested stock units at December 31, 2013 (in shares) | ' | ' | 4,631,979 |
Weighted- Average Fair Value at Grant Date | ' | ' | ' |
Non-vested stock units at December 31, 2012 (in dollars per share) | $74.70 | ' | $74.70 |
Granted (in dollars per share) | $89.93 | $89.95 | $71.84 |
Vested (in dollars per share) | ' | ' | $69.36 |
Forfeited (in dollars per share) | ' | ' | $76.16 |
Non-vested stock units at December 31, 2013 (in dollars per share) | ' | ' | $74.47 |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Equity [Abstract] | ' | ' | ' | ' |
Stock repurchase program, authorized amount | $500,000,000 | $3,900,000,000 | ' | ' |
Available to repurchase common stock | ' | 429,300,000 | ' | ' |
Amount expended on share repurchases in open market transactions | ' | 406,326,000 | 251,008,000 | 424,849,000 |
Number of shares repurchased | ' | 6,563,986 | 3,550,817 | 6,275,470 |
Average per share price on share repurchases in open market transactions (in dollars per share) | ' | $61.90 | $70.69 | $67.70 |
Total tax withholdings for share-based compensation (in shares) | ' | 444,657 | 269,745 | 182,203 |
Total tax withholdings for share-based compensation | ' | $31,013,000 | $20,170,000 | $13,262,000 |
Preferred stock, shares authorized | ' | 5,000,000 | 5,000,000 | ' |
Preferred stock, par value | ' | $0.01 | $0.01 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 17, 2012 | |
SSL Services | ||||
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Rental expense | $70,900,000 | $65,100,000 | $56,500,000 | ' |
Sublease Income | 300,000 | 200,000 | 200,000 | ' |
Total operating lease obligations remaining | 276,590,000 | ' | ' | ' |
Loss Contingency, Information about Litigation Matters [Abstract] | ' | ' | ' | ' |
Final damages awarded, confirmed by court | ' | ' | ' | 10,000,000 |
Enhanced damages awarded | ' | ' | ' | 5,000,000 |
Prejudgment interest on damages awarded | ' | ' | ' | 5,000,000 |
Purchase obligations anticipated for 2014 | 13,100,000 | ' | ' | ' |
Contingent obligations to purchase inventory | $18,200,000 | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Lease Commitments) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases | ' |
2014 | $60,982 |
2015 | 46,770 |
2016 | 39,353 |
2017 | 22,064 |
2018 | 18,536 |
Thereafter | 88,885 |
Total | 276,590 |
Sublease Income | ' |
2014 | 255 |
2015 | 260 |
2016 | 227 |
2017 | 218 |
2018 | 203 |
Thereafter | 0 |
Total | $1,163 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Loss Carryforwards [Line Items] | ' | ' |
Valuation allowance | ($26,465,000) | ($18,185,000) |
Interest on tax positions | 800,000 | ' |
Accrued interest on tax positions | 0 | ' |
Tax benefit expected to be recognized in the first quarter of 2013 under the provisions of the American Taxpayer Relief Act of 2012 | 10,700,000 | ' |
Research | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Undistributed earnings from foreign subsidiaries | 1,238,000,000 | ' |
Tax credit carry forwards | 55,600,000 | ' |
United States | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carry forwards | 220,000,000 | ' |
Foreign jurisdictions | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Net operating loss carry forwards | $52,000,000 | ' |
Income_Taxes_United_States_and
Income Taxes (United States and Foreign Components of Income Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense (Benefit), Continuing Operations, by Jurisdiction [Abstract] | ' | ' | ' |
United States | $142,085 | $200,802 | $176,824 |
Foreign | 245,805 | 209,427 | 253,673 |
Income before income taxes | $387,890 | $410,229 | $430,497 |
Income_Taxes_Components_of_the
Income Taxes (Components of the Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | $51,389 | $81,019 | $50,022 |
Foreign | 37,221 | 30,059 | 29,169 |
State | 11,605 | 17,395 | 11,905 |
Total current | 100,215 | 128,473 | 91,096 |
Deferred: | ' | ' | ' |
Federal | -34,897 | -64,960 | -8,631 |
Foreign | -8,413 | 1,409 | -4,792 |
State | -8,538 | -7,240 | -2,806 |
Total deferred | -51,848 | -70,791 | -16,229 |
Total provision | $48,367 | $57,682 | $74,867 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes (Deferred Tax Assets and Liabilities by Balance Sheet Classification (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets and Liabilities by Balance Sheet Classification [Abstract] | ' | ' |
Deferred tax assets - current | $48,470 | $36,846 |
Deferred tax liabilities - current | -364 | -876 |
Deferred tax assets- non current | 115,418 | 43,097 |
Deferred tax liabilities - non current | -13,127 | -19,756 |
Total net deferred tax assets | $150,397 | $59,311 |
Income_Taxes_Components_of_Def
Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Accruals and reserves | $25,556 | $36,128 |
Deferred revenue | 55,688 | 41,820 |
Tax credits | 60,519 | 43,657 |
Net operating losses | 103,329 | 89,856 |
Other | 10,537 | 8,452 |
Stock based compensation | 72,074 | 54,852 |
Depreciation and amortization | 1,675 | 0 |
Valuation allowance | -26,465 | -18,185 |
Total deferred tax assets | 302,913 | 256,580 |
Deferred tax liabilities: | ' | ' |
Depreciation and amortization | 0 | 40,159 |
Acquired technology | -136,258 | -140,017 |
Prepaid expenses | -16,258 | -17,093 |
Total deferred tax liabilities | -152,516 | -197,269 |
Total net deferred tax assets | $150,397 | $59,311 |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of the Company's Effective Tax Rate to the Statutory Federal Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Federal statutory taxes | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal tax benefit | 1.20% | 1.90% | 1.70% |
Foreign operations | -14.80% | -10.20% | -14.50% |
Permanent differences | -1.10% | -2.00% | 1.20% |
Tax credits | -10.90% | -4.70% | -7.10% |
Stock option compensation | 0.40% | 0.10% | 0.10% |
Change in accruals for uncertain tax positions | 3.30% | -5.30% | 1.40% |
Other | -0.60% | -0.70% | -0.40% |
Effective income tax rate | 12.50% | 14.10% | 17.40% |
Income_Taxes_Reconciliation_of1
Income Taxes (Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits [Roll Forward] | ' | ' |
Beginning balance | $43,904 | $79,199 |
Additions based on tax positions related to the current year | 13,694 | 2,459 |
Additions for tax positions of prior years | 10,611 | 9,558 |
Reductions related to the expiration of statutes of limitations | -2,116 | -33,594 |
Settlements | -2,301 | -13,718 |
Ending balance | $63,792 | $43,904 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
segment | |||||||||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $802,420 | $712,731 | $730,384 | $672,899 | $739,996 | $641,422 | $615,210 | $589,495 | $2,918,434 | $2,586,123 | $2,206,392 |
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Percentage of international revenues accounting for the Company's net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 45.40% | 45.30% | 43.20% |
US to International Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | $215,300 | $127,400 | $106,000 |
Ingram Micro | Net revenues | Customer concentration risk | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of customers meeting concentration risk threshold | 1 | ' | ' | ' | 1 | ' | ' | ' | 1 | 1 | 1 |
Concentration risk percentage | ' | ' | ' | ' | ' | ' | ' | ' | 14.00% | 16.00% | 17.00% |
Segment_Information_Net_Revenu
Segment Information (Net Revenues And Profit By Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | $802,420 | $712,731 | $730,384 | $672,899 | $739,996 | $641,422 | $615,210 | $589,495 | $2,918,434 | $2,586,123 | $2,206,392 | |||
Segment profit | 160,854 | 87,367 | 75,888 | 56,608 | 145,421 | 82,415 | 82,192 | 80,750 | 380,717 | 390,778 | 416,966 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | -139,541 | [1] | -114,574 | [1] | -71,131 | [1] |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1] | 0 | [1] | -24 | [1] |
Net interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 7,173 | [1] | 19,451 | [1] | 13,531 | [1] |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | -183,941 | [1] | -149,940 | [1] | -92,909 | [1] |
Consolidated income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 387,890 | 410,229 | 430,497 | |||
Enterprise and Service Provider division | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,335,562 | 2,074,800 | 1,778,646 | |||
Segment profit | ' | ' | ' | ' | ' | ' | ' | ' | 588,138 | 562,794 | 504,883 | |||
SaaS division | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 582,872 | 511,323 | 427,746 | |||
Segment profit | ' | ' | ' | ' | ' | ' | ' | ' | $116,061 | $92,498 | $76,147 | |||
[1] | Represents expenses presented to management on a consolidated basis only and not allocated to the operating segments. |
Segment_Information_Identifiab
Segment Information (Identifiable Assets By Segment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Identifiable assets | $5,212,249 | $4,796,402 |
Long-lived assets | 338,996 | 303,294 |
United States | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Long-lived assets | 258,114 | 231,812 |
United Kingdom | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Long-lived assets | 29,382 | 30,633 |
Other countries | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Long-lived assets | 51,500 | 40,849 |
Enterprise and Service Provider division | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Identifiable assets | 4,662,724 | 4,246,292 |
SaaS division | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Identifiable assets | $549,525 | $550,110 |
Segment_Information_Revenues_B
Segment Information (Revenues By Product Grouping) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | $802,420 | $712,731 | $730,384 | $672,899 | $739,996 | $641,422 | $615,210 | $589,495 | $2,918,434 | $2,586,123 | $2,206,392 | |||
Enterprise and Service Provider division | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,335,562 | 2,074,800 | 1,778,646 | |||
Enterprise and Service Provider division | Mobile and Desktop revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,549,383 | [1] | 1,450,850 | [1] | 1,278,798 | [1] |
Enterprise and Service Provider division | Networking and Cloud revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 634,598 | [2] | 496,608 | [2] | 385,518 | [2] |
Enterprise and Service Provider division | Professional services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 138,879 | [3] | 119,061 | [3] | 91,496 | [3] |
Enterprise and Service Provider division | Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 12,702 | 8,281 | 22,834 | |||
SaaS division revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | $582,872 | $511,323 | $427,746 | |||
[1] | Mobile and Desktop revenues are primarily comprised of sales from the Companybs desktop and application virtualization products, XenDesktop and XenApp, and the Company's Mobility products, which include XenMobile and related license updates and maintenance and support. | |||||||||||||
[2] | Networking and Cloud revenues are primarily comprised of sales from the Companybs cloud networking products, which include NetScaler, CloudBridge and ByteMobile Smart Capacity, and the Companybs cloud platform products which include XenServer, CloudPlatform and CloudPortal and related license updates and maintenance and support. | |||||||||||||
[3] | Professional services revenues are primarily comprised of revenues from consulting services and product training and certification services. |
Segment_Information_Revenues_B1
Segment Information (Revenues By Geographic Location) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $802,420 | $712,731 | $730,384 | $672,899 | $739,996 | $641,422 | $615,210 | $589,495 | $2,918,434 | $2,586,123 | $2,206,392 |
Enterprise and Service Provider division | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,335,562 | 2,074,800 | 1,778,646 |
Enterprise and Service Provider division | Americas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,263,673 | 1,106,801 | 993,062 |
Enterprise and Service Provider division | EMEA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 785,862 | 691,111 | 576,953 |
Enterprise and Service Provider division | Asia-Pacific | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 286,027 | 276,888 | 208,631 |
SaaS division | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 582,872 | 511,323 | 427,746 |
SaaS division | Americas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 488,307 | 433,263 | 367,260 |
SaaS division | EMEA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 73,529 | 63,484 | 50,711 |
SaaS division | Asia-Pacific | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | $21,036 | $14,576 | $9,775 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Cash flow hedge instrument term, maximum historical term | '12 months | ' |
Cash flow hedge instrument term, maximum | '18 months | ' |
Cumulative unrealized gain (loss) on cash flow derivative instruments in accumulated other comprehensive loss | $2.90 | $0 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Schedule Of The Fair Values Of Derivative Instruments) (Details) (Cash flow hedging, Foreign currency, Forward contracts, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives Designated as Hedging Instruments | Prepaid expenses and other current assets | ' | ' |
Asset Derivatives | ' | ' |
Derivative assets fair value | $4,559 | $4,157 |
Derivatives Designated as Hedging Instruments | Accrued expenses and other current liabilities | ' | ' |
Liability Derivatives | ' | ' |
Derivative liabilities fair value | 1,578 | 4,162 |
Derivatives Not Designated as Hedging Instruments | Prepaid expenses and other current assets | ' | ' |
Asset Derivatives | ' | ' |
Derivative assets fair value | 393 | 448 |
Derivatives Not Designated as Hedging Instruments | Accrued expenses and other current liabilities | ' | ' |
Liability Derivatives | ' | ' |
Derivative liabilities fair value | $165 | $52 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Schedule Of Effect Of Derivative Instruments On Financial Performance) (Details) (Cash flow hedging, Foreign currency, Forward contracts, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivatives Designated as Hedging Instruments | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain Recognized in Other Comprehensive Income (Loss) (Effective Portion) | $2,862 | $5,164 |
Derivatives Designated as Hedging Instruments | Operating expenses | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Loss Reclassified from Accumulated Other Comprehensive Income (Loss) (Effective Portion) | -2,929 | -5,817 |
Derivatives Not Designated as Hedging Instruments | Other (expense) income, net | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivative | $3,138 | ($1,341) |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Schedule Of Net Notional Foreign Currency Forward Contracts Outstanding) (Details) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | AUD | CAD | CHF | CNY | DKK | EUR (€) | GBP (£) | HKD | INR | JPY (¥) | NZD | SGD |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net notional foreign currency forward contracts outstanding | 8,012 | 6,714 | 19,741 | 81,250 | 1,500 | € 27,820 | £ 34,475 | 51,063 | 1,201,622 | ¥ 169,004 | 300 | 12,600 |
Net_Income_Per_Share_Attributa2
Net Income Per Share Attributable To Citrix Systems, Inc. Stockholders (Net Income Per Share Basic And Diluted) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Citrix Systems, Inc. stockholders | $138,644 | $76,730 | $64,461 | $59,688 | $114,029 | $78,245 | $92,006 | $68,267 | $339,523 | $352,547 | $356,322 |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Denominator for basic earnings per share - weighted-average shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 186,672 | 186,722 | 187,315 |
Effect of dilutive employee stock awards: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee stock awards | ' | ' | ' | ' | ' | ' | ' | ' | 1,573 | 2,407 | 3,326 |
Denominator for diluted earnings per share - weighted-average shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 188,245 | 189,129 | 190,641 |
Net income per share attributable to Citrix Systems, Inc. stockholders - basic (in dollars per share) | $0.75 | $0.41 | $0.34 | $0.32 | $0.61 | $0.42 | $0.49 | $0.37 | $1.82 | $1.89 | $1.90 |
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted (in dollars per share) | $0.74 | $0.41 | $0.34 | $0.32 | $0.60 | $0.41 | $0.49 | $0.36 | $1.80 | $1.86 | $1.87 |
Anti-dilutive weighted-average shares | ' | ' | ' | ' | ' | ' | ' | ' | 3,647 | 3,464 | 2,576 |
Comprehensive_Income_Changes_i
Comprehensive Income (Changes in Accumulated Other Comprehensive Loss by Component) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance at December 31, 2012 | ($7,705) | ' | ' |
Other comprehensive income before reclassifications | 9,930 | ' | ' |
Amounts reclassified from Accumulated other comprehensive income (loss) | 2,726 | ' | ' |
Other comprehensive income (loss) | 12,656 | 3,856 | -13,584 |
Balance at December 31, 2013 | 4,951 | -7,705 | ' |
Foreign currency | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance at December 31, 2012 | -3,024 | ' | ' |
Other comprehensive income before reclassifications | 8,482 | ' | ' |
Amounts reclassified from Accumulated other comprehensive income (loss) | 0 | ' | ' |
Other comprehensive income (loss) | 8,482 | ' | ' |
Balance at December 31, 2013 | 5,458 | ' | ' |
Unrealized gain (loss) on available-for-sale securities | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance at December 31, 2012 | 2,426 | ' | ' |
Other comprehensive income before reclassifications | -985 | ' | ' |
Amounts reclassified from Accumulated other comprehensive income (loss) | -203 | ' | ' |
Other comprehensive income (loss) | -1,188 | ' | ' |
Balance at December 31, 2013 | 1,238 | ' | ' |
Unrealized gain (loss) on derivative instruments | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance at December 31, 2012 | -10 | ' | ' |
Other comprehensive income before reclassifications | -67 | ' | ' |
Amounts reclassified from Accumulated other comprehensive income (loss) | 2,929 | ' | ' |
Other comprehensive income (loss) | 2,862 | ' | ' |
Balance at December 31, 2013 | 2,852 | ' | ' |
Other comprehensive gain (loss) on pension liability | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance at December 31, 2012 | -7,097 | ' | ' |
Other comprehensive income before reclassifications | 2,500 | ' | ' |
Amounts reclassified from Accumulated other comprehensive income (loss) | 0 | ' | ' |
Other comprehensive income (loss) | 2,500 | ' | ' |
Balance at December 31, 2013 | ($4,597) | ' | ' |
Comprehensive_Income_Reclassif
Comprehensive Income (Reclassifications out of Accumulated Other Comprehensive Loss) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Unrealized net gain on available-for-sale securities | ($1,021) | $9,299 | ($288) | |
Unrealized net losses on cash flow hedges | -2,034,922 | -1,791,208 | -1,495,827 | |
Consolidated net income | 339,523 | 352,547 | 355,630 | |
Amount reclassified from Accumulated other comprehensive income (loss), net of tax | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Consolidated net income | -2,726 | ' | ' | |
Amount reclassified from Accumulated other comprehensive income (loss), net of tax | Unrealized net gain on available-for-sale securities | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Unrealized net gain on available-for-sale securities | 203 | ' | ' | |
Amount reclassified from Accumulated other comprehensive income (loss), net of tax | Unrealized net losses on cash flow hedges | ' | ' | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | |
Unrealized net losses on cash flow hedges | ($2,929) | [1] | ' | ' |
[1] | Operating expenses amounts allocated to Research and development, Sales, marketing and services, and General and administrative are not individually significant. |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $802,420,000 | $712,731,000 | $730,384,000 | $672,899,000 | $739,996,000 | $641,422,000 | $615,210,000 | $589,495,000 | $2,918,434,000 | $2,586,123,000 | $2,206,392,000 |
Gross margin | 665,712,000 | 588,798,000 | 603,144,000 | 557,985,000 | 622,628,000 | 535,354,000 | 520,852,000 | 503,152,000 | 2,415,639,000 | 2,181,986,000 | 1,912,793,000 |
Income from operations | 160,854,000 | 87,367,000 | 75,888,000 | 56,608,000 | 145,421,000 | 82,415,000 | 82,192,000 | 80,750,000 | 380,717,000 | 390,778,000 | 416,966,000 |
Net income attributable to Citrix Systems, Inc. | 138,644,000 | 76,730,000 | 64,461,000 | 59,688,000 | 114,029,000 | 78,245,000 | 92,006,000 | 68,267,000 | 339,523,000 | 352,547,000 | 356,322,000 |
Net income per share attributable to Citrix Systems, Inc. stockholders - basic (in dollars per share) | $0.75 | $0.41 | $0.34 | $0.32 | $0.61 | $0.42 | $0.49 | $0.37 | $1.82 | $1.89 | $1.90 |
Net income per share attributable to Citrix Systems, Inc. stockholders - diluted (in dollars per share) | $0.74 | $0.41 | $0.34 | $0.32 | $0.60 | $0.41 | $0.49 | $0.36 | $1.80 | $1.86 | $1.87 |
ctxs-adjustment to excess tax benefit from stock based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 17,300,000 | ' | ' |
Net cash provided by operating activities | ' | ' | ' | 266,600,000 | ' | ' | ' | ' | 928,343,000 | 818,527,000 | 679,122,000 |
Net cash used in financing activities | ' | ' | ' | $28,900,000 | ' | ' | ' | ' | $352,281,000 | $149,782,000 | $292,614,000 |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at End of Period | $2,100 | $2,600 | ' | |||
Allowance for doubtful accounts | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Beginning of Period | 3,883 | 2,564 | 3,409 | |||
Charged to Costs and Expenses | 1,046 | 1,784 | 266 | |||
Charged to Other Accounts | 0 | [1] | 1,119 | [1] | 1,468 | [1] |
Deductions | 1,637 | [2] | 1,584 | [2] | 2,579 | [2] |
Balance at End of Period | 3,292 | 3,883 | 2,564 | |||
Allowance for returns | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Beginning of Period | 2,564 | 1,361 | 850 | |||
Charged to Costs and Expenses | 0 | 0 | 0 | |||
Charged to Other Accounts | 4,473 | [3] | 10,742 | [3] | 5,542 | [3] |
Deductions | 4,975 | [4] | 9,539 | [4] | 5,031 | [4] |
Balance at End of Period | 2,062 | 2,564 | 1,361 | |||
Valuation allowance for deferred tax assets | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Beginning of Period | 18,185 | 9,235 | 13,999 | |||
Charged to Costs and Expenses | 0 | 0 | 0 | |||
Charged to Other Accounts | 8,280 | [5] | 8,950 | [6] | -4,764 | [6] |
Deductions | 0 | 0 | 0 | |||
Balance at End of Period | $26,465 | $18,185 | $9,235 | |||
[1] | Adjustments from acquisitions. | |||||
[2] | Uncollectible accounts written off, net of recoveries. | |||||
[3] | Charged against revenues. | |||||
[4] | Credits issued for returns. | |||||
[5] | Related to deferred tax assets on foreign tax credits, net operating loss carryforwards, and depreciation. | |||||
[6] | Related to deferred tax assets on unrealized losses and acquisitions. |