Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.10.0.1
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The effects of those adjustments to the Condensed Consolidated Statements of Cash Flows have been summarized in the table below:
 
Originally Reported
 
Effect of Change
 
As Adjusted
 
(in thousands)
Statement of Cash Flows for the nine months ended September 30, 2017
 
 
 
 
 
Net cash provided by operating activities
$
106,288

 
$
(405
)
 
$
105,883

Net cash used in investing activities
$
(395,437
)
 
$
9,311

 
$
(386,126
)
Cash, cash equivalents and restricted cash at end of period
$
109,334

 
$
92,560

 
$
201,894

We adopted the requirements of the new revenue standard on January 1, 2018 using the modified retrospective method and applied the guidance to contracts not substantially completed as of the date of initial application, or open contracts. We recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings at the beginning of 2018. Comparative information from prior year periods has not been restated and continues to be reported under the accounting standards in effect for those periods. The cumulative effects of the changes made to our condensed consolidated January 1, 2018 balance sheet for the adoption of the new revenue standard were as follows:
 
Balance at
December 31, 2017
 
Adjustments due
to ASU 2014-09
 
Balance at
January 1, 2018
 
(in thousands)
Assets
 
 
 
 
 
Accounts receivable, less allowance for doubtful accounts
$
124,505

 
$
(7,925
)
 
$
116,580

Other current assets
$
6,622

 
$
2,771

 
$
9,393

Deferred tax assets, net
$
44,887

 
$
(780
)
 
$
44,107

Other assets
$
11,010

 
$
4,459

 
$
15,469

Liabilities
 
 
 
 
 
Current portion of deferred revenue
$
116,622

 
$
(3,696
)
 
$
112,926

Stockholders’ Equity
 
 
 
 
 
Accumulated deficit
$
(75,046
)
 
$
2,221

 
$
(72,825
)
he following tables summarize the effects of the adoption of ASU 2014-09 on selected unaudited line items within our Condensed Consolidated Statements of Operations and Balance Sheet:
 
Three Months Ended September 30, 2018
 
Nine Months Ended September 30, 2018
 
As reported
 
Balances without adoption of ASU 2014-09
 
Effect of Change
on Net Income
Higher/(Lower)
 
As reported
 
Balances without adoption of ASU 2014-09
 
Effect of Change
on Net Income
Higher/(Lower)
 
(in thousands)
Revenue
 
 
 
 
 
 
 
 
 
 
 
On demand
$
215,413

 
$
215,912

 
$
(499
)
 
$
615,658

 
$
616,788

 
$
(1,130
)
Professional and other
9,540

 
8,644

 
896

 
26,848

 
24,739

 
2,109

Total revenue
$
224,953

 
$
224,556

 
$
397

 
$
642,506

 
$
641,527

 
$
979

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Sales and marketing
$
43,179

 
$
45,213

 
$
2,034

 
$
121,523

 
$
127,714

 
$
6,191

 
 
 
 
 
 
 
 
 
 
 
 
Net income before income taxes
$
9,756

 
$
7,325

 
$
2,431

 
$
28,646

 
$
21,476

 
$
7,170

Income tax expense (benefit)
683

 
(216
)
 
(899
)
 
193

 
(2,459
)
 
(2,652
)
Net income
$
9,073

 
$
7,541

 
$
1,532

 
$
28,453

 
$
23,935

 
$
4,518

 
Balances at September 30, 2018 - as reported
 
Balances at September 30, 2018 without adoption of ASU 2014-09
 
Effect of Change
Higher/(Lower)
 
(in thousands)
Assets
 
 
 
 
 
Accounts receivable, less allowance for doubtful accounts
$
114,441

 
$
121,816

 
$
(7,375
)
Other current assets
$
17,834

 
$
11,997

 
$
5,837

Other assets
$
18,992

 
$
11,446

 
$
7,546

Liabilities
 
 
 
 
 
Current portion of deferred revenue
$
110,507

 
$
114,779

 
$
(4,272
)
Deferred revenue
$
5,079

 
$
5,079

 
$