| Schedule of New Accounting Pronouncements and Changes in Accounting Principles |
The adoption of Topic 606 resulted in the following changes to our opening balance sheet:
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
Balance at September 30, 2018 |
|
Adjustments due to adoption of new standard |
|
Opening balance at October 1, 2018 |
Assets |
|
|
|
|
|
Accounts receivable - unbilled |
$ |
31,536 |
|
|
$ |
35,414 |
|
|
$ |
66,950 |
|
Deferred income taxes |
6,834 |
|
|
(6,625 |
) |
|
209 |
|
Liabilities and shareholders' equity |
|
|
|
|
|
Deferred revenue - current |
51,182 |
|
|
(11,767 |
) |
|
39,415 |
|
Deferred income taxes - long-term |
26,377 |
|
|
7,074 |
|
|
33,451 |
|
Retained earnings |
633,281 |
|
|
32,929 |
|
|
666,210 |
|
Noncontrolling interests |
2,552 |
|
|
553 |
|
|
3,105 |
|
The effect on our balance sheet would have been as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
Balance at December 31, 2018 as reported |
|
Adjustments due to adoption of new standard |
|
Balance at December 31, 2018 under previous accounting guidance |
Assets |
|
|
|
|
|
Accounts receivable - unbilled |
$ |
124,385 |
|
|
$ |
(34,233 |
) |
|
$ |
90,152 |
|
Deferred income taxes |
209 |
|
|
6,743 |
|
|
6,952 |
|
Liabilities and shareholders' equity |
|
|
|
|
|
Deferred revenue - current |
37,231 |
|
|
12,521 |
|
|
49,752 |
|
Deferred income taxes - long-term |
49,617 |
|
|
(6,764 |
) |
|
42,853 |
|
Accumulated other comprehensive loss |
(42,673 |
) |
|
825 |
|
|
(41,848 |
) |
Retained earnings |
664,332 |
|
|
(33,349 |
) |
|
630,983 |
|
Noncontrolling interests |
2,782 |
|
|
(723 |
) |
|
2,059 |
|
Our balances for cash, cash equivalents and restricted cash are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of |
(dollars in thousands) |
|
December 31, 2018 |
|
September 30, 2018 |
|
December 31, 2017 |
|
September 30, 2017 |
Cash and cash equivalents |
|
$ |
54,736 |
|
|
$ |
349,245 |
|
|
$ |
196,905 |
|
|
$ |
166,252 |
|
Restricted cash (recorded within "other current assets") |
|
7,358 |
|
|
7,314 |
|
|
13,597 |
|
|
13,475 |
|
Cash, cash equivalents and restricted cash |
|
$ |
62,094 |
|
|
$ |
356,559 |
|
|
$ |
210,502 |
|
|
$ |
179,727 |
|
|