| 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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|
|
|
|
|
|
|
|
|
|
|
|
|
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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|
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|
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|
|
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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
|
)%
|
|