| Schedule of Impact of ASC 606 to the Condensed Consolidated Financial Statements |
The following table summarizes the effects of adopting ASC 606 on our condensed consolidated balance sheet as of December 31, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018 (In thousands) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
ASSETS |
|
|
|
|
|
Accounts receivable, net |
$ |
658,080 |
|
|
$ |
678,863 |
|
|
$ |
(20,783 |
) |
Other current assets |
127,350 |
|
|
71,214 |
|
|
56,136 |
|
Deferred income taxes |
225,124 |
|
|
206,674 |
|
|
18,450 |
|
LIABILITIES |
|
|
|
|
|
Deferred system revenue |
$ |
196,242 |
|
|
$ |
— |
|
|
$ |
196,242 |
|
Deferred service revenue |
168,936 |
|
|
66,759 |
|
|
102,177 |
|
Deferred system profit |
— |
|
|
319,696 |
|
|
(319,696 |
) |
Other current liabilities |
714,873 |
|
|
733,220 |
|
|
(18,347 |
) |
Deferred service revenue, non-current |
90,466 |
|
|
83,338 |
|
|
7,128 |
|
STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
Retained earnings |
$ |
1,048,804 |
|
|
$ |
962,561 |
|
|
$ |
86,243 |
|
Accumulated other comprehensive income (loss) |
(70,447 |
) |
|
(70,502 |
) |
|
55 |
|
The following table summarizes the effects of adopting ASC 606 on our condensed consolidated statements of operations for the three months ended December 31, 2018:
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|
|
|
|
|
|
|
|
|
|
|
|
Three months ended December 31, 2018 (In thousands, except per share amounts) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
Revenues: |
|
|
|
|
|
Product |
$ |
852,201 |
|
|
$ |
875,415 |
|
|
$ |
(23,214 |
) |
Service |
267,697 |
|
|
230,683 |
|
|
37,014 |
|
Costs and expenses: |
|
|
|
|
|
Costs of revenues |
408,260 |
|
|
392,916 |
|
|
15,344 |
|
Other expense (income), net |
(9,228 |
) |
|
(9,187 |
) |
|
(41 |
) |
Provision for income taxes |
46,863 |
|
|
48,401 |
|
|
(1,538 |
) |
Net income |
$ |
369,100 |
|
|
$ |
369,065 |
|
|
$ |
35 |
|
Net income per share |
|
|
|
|
|
Basic |
$ |
2.43 |
|
|
$ |
2.43 |
|
|
$ |
— |
|
Diluted |
$ |
2.42 |
|
|
$ |
2.42 |
|
|
$ |
— |
|
The following table summarizes the effects of adopting ASC 606 on our condensed consolidated statements of operations for the six months ended December 31, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended December 31, 2018 (In thousands, except per share amounts) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
Revenues: |
|
|
|
|
|
Product |
$ |
1,681,428 |
|
|
$ |
1,576,088 |
|
|
$ |
105,340 |
|
Service |
531,730 |
|
|
460,643 |
|
|
71,087 |
|
Costs and expenses: |
|
|
|
|
|
Costs of revenues |
789,647 |
|
|
734,790 |
|
|
54,857 |
|
Other expense (income), net |
(19,253 |
) |
|
(19,213 |
) |
|
(40 |
) |
Provision for income taxes |
78,487 |
|
|
64,335 |
|
|
14,152 |
|
Net income |
$ |
765,044 |
|
|
$ |
657,586 |
|
|
$ |
107,458 |
|
Net income per share: |
|
|
|
|
|
Basic |
$ |
4.98 |
|
|
$ |
4.29 |
|
|
$ |
0.69 |
|
Diluted |
$ |
4.96 |
|
|
$ |
4.27 |
|
|
$ |
0.69 |
|
|
| Schedule of Contract Balances |
Contract Balances
|
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|
|
|
|
|
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|
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|
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|
|
|
|
As of |
|
As of |
|
|
|
|
(In thousands, except for percentage) |
December 31, 2018 |
|
July 1, 2018 |
|
$ Change |
|
% Change |
Accounts receivable, net |
$ |
658,080 |
|
|
$ |
635,878 |
|
|
$ |
22,202 |
|
|
3.49 |
% |
Contract assets |
$ |
23,316 |
|
|
$ |
14,727 |
|
|
$ |
8,589 |
|
|
58.32 |
% |
Contract liabilities |
$ |
455,644 |
|
|
$ |
556,691 |
|
|
$ |
(101,047 |
) |
|
(18.15 |
)% |
|