| 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
|
|
|
|
|
|
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Retained earnings
|
$
|
1,048,804
|
|
|
$
|
962,561
|
|
|
$
|
86,243
|
|
|
Accumulated other comprehensive income (loss)
|
(70447
|
)
|
|
(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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|
|
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|
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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
|
)
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|
Net income
|
$
|
369,100
|
|
|
$
|
369,065
|
|
|
$
|
35
|
|
|
Net income per share
|
|
|
|
|
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|
Basic
|
$
|
2.43
|
|
|
$
|
2.43
|
|
|
$
|
—
|
|
|
Diluted
|
$
|
2.42
|
|
|
$
|
2.42
|
|
|
$
|
—
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|
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
:
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|
|
|
|
|
|
|
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|
|
|
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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|
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
|
)%
|
|