| Schedule of Impact of ASC 606 to the Condensed Consolidated Financial Statements |
The following table summarizes the effects of adopting ASC 606 on the Company’s condensed consolidated balance sheet as of September 30, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2018 (In thousands) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
ASSETS |
|
|
|
|
|
Accounts receivable, net |
$ |
602,210 |
|
|
$ |
614,476 |
|
|
$ |
(12,266 |
) |
Other current assets |
144,999 |
|
|
115,863 |
|
|
29,136 |
|
Deferred income taxes |
222,107 |
|
|
199,326 |
|
|
22,781 |
|
LIABILITIES |
|
|
|
|
|
Deferred system revenue |
$ |
216,427 |
|
|
$ |
— |
|
|
$ |
216,427 |
|
Deferred service revenue |
166,254 |
|
|
58,984 |
|
|
107,270 |
|
Deferred system profit |
— |
|
|
330,622 |
|
|
(330,622 |
) |
Other current liabilities |
773,319 |
|
|
820,159 |
|
|
(46,840 |
) |
Deferred service revenue, non-current |
80,936 |
|
|
73,741 |
|
|
7,195 |
|
STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
Retained earnings |
$ |
1,027,370 |
|
|
$ |
941,162 |
|
|
$ |
86,208 |
|
Accumulated other comprehensive income (loss) |
(56,167 |
) |
|
(56,182 |
) |
|
15 |
|
The following table summarizes the effects of adopting ASC 606 on the Company’s condensed consolidated statements of operations for the three months ended September 30, 2018:
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|
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|
|
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|
|
|
Three months ended September 30, 2018 (In thousands, except per share amounts)
|
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
Revenues: |
|
|
|
|
|
Product |
$ |
829,227 |
|
|
$ |
700,673 |
|
|
$ |
128,554 |
|
Service |
264,033 |
|
|
229,960 |
|
|
34,073 |
|
Costs and expenses: |
|
|
|
|
|
Costs of revenues |
381,387 |
|
|
341,874 |
|
|
39,513 |
|
Other expense (income), net |
(10,025 |
) |
— |
|
(10,026 |
) |
|
1 |
|
Provision for income taxes |
31,624 |
|
|
15,934 |
|
|
15,690 |
|
Net income |
$ |
395,944 |
|
|
$ |
288,521 |
|
|
$ |
107,423 |
|
Net income per share: |
|
|
|
|
|
Basic |
$ |
2.55 |
|
|
$ |
1.86 |
|
|
$ |
0.69 |
|
Diluted |
$ |
2.54 |
|
|
$ |
1.85 |
|
|
$ |
0.69 |
|
|
| Schedule of Contract Balances |
Contract Balances
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|
As of |
|
As of |
|
|
|
|
(In thousands, except for percentage) |
September 30, 2018 |
|
July 1, 2018 |
|
$ Change |
|
% Change |
Accounts receivable, net |
$ |
602,210 |
|
|
$ |
635,878 |
|
|
$ |
(33,668 |
) |
|
(5.29 |
)% |
Contract assets |
$ |
15,373 |
|
|
$ |
14,727 |
|
|
$ |
646 |
|
|
4.39 |
% |
Contract liabilities |
$ |
463,617 |
|
|
$ |
556,691 |
|
|
$ |
(93,074 |
) |
|
(16.72 |
)% |
|