Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

v3.10.0.1
Revenue (Tables)
3 Months Ended
Sep. 30, 2018
Revenue from Contract with Customer [Abstract]  
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:
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
 
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
)%