Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 19, 2015 | Jun. 30, 2014 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | CTSH | ||
Entity Registrant Name | COGNIZANT TECHNOLOGY SOLUTIONS CORP | ||
Entity Central Index Key | 1058290 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 609,616,575 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Public Float | $29,556,044,386 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No |
Consolidated_Statements_Of_Fin
Consolidated Statements Of Financial Position (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and cash equivalents | $2,010,149 | $2,213,006 |
Short-term investments | 1,764,577 | 1,534,467 |
Trade accounts receivable, net of allowances of $36,925 and $26,824, respectively | 1,968,680 | 1,648,785 |
Unbilled accounts receivable | 324,584 | 226,487 |
Deferred income tax assets, net | 329,694 | 256,230 |
Other current assets | 352,613 | 268,907 |
Total current assets | 6,750,297 | 6,147,882 |
Property and equipment, net of accumulated depreciation of $852,124 and $719,336, respectively | 1,247,205 | 1,081,164 |
Goodwill | 2,413,564 | 444,236 |
Intangible assets, net | 953,749 | 131,274 |
Deferred income tax assets, net | 144,438 | 147,149 |
Other noncurrent assets | 209,663 | 183,013 |
Total assets | 11,718,916 | 8,134,718 |
Liabilities and Stockholders' Equity | ||
Accounts payable | 145,687 | 113,394 |
Deferred revenue | 224,114 | 182,893 |
Short-term debt | 700,002 | 0 |
Accrued Expenses And Other Current Liabilities | 1,522,291 | 1,478,221 |
Total current liabilities | 2,592,094 | 1,774,508 |
Deferred revenue, noncurrent | 80,956 | 0 |
Deferred income tax liabilities, net | 251,724 | 21,170 |
Long-term debt | 937,500 | 0 |
Other noncurrent liabilities | 116,424 | 203,249 |
Total liabilities | 3,978,698 | 1,998,927 |
Commitments and contingencies (See Note 14) | ||
Stockholders' Equity: | ||
Preferred stock, $0.10 par value, 15,000 shares authorized, none issued | 0 | 0 |
Class A common stock, $0.01 par value, 1,000,000 shares authorized, 609,398 and 607,729 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively | 6,094 | 6,077 |
Additional paid-in capital | 555,558 | 543,606 |
Retained earnings | 7,301,634 | 5,862,367 |
Accumulated other comprehensive income (loss) | -123,068 | -276,259 |
Total stockholders’ equity | 7,740,218 | 6,135,791 |
Total liabilities and stockholders’ equity | $11,718,916 | $8,134,718 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Financial Position (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Trade accounts receivable, allowances | $36,925 | $26,824 |
Property and equipment, accumulated depreciation | $852,124 | $719,336 |
Preferred stock, par value | $0.10 | $0.10 |
Preferred stock, shares authorized | 15,000,000 | 15,000,000 |
Preferred stock, issued | 0 | 0 |
Class A common stock, par value | $0.01 | $0.01 |
Class A common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Class A common stock, shares issued | 609,398,000 | 607,729,000 |
Class A common stock, shares outstanding | 609,398,000 | 607,729,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||
Revenues | $10,262,681 | $8,843,189 | $7,346,472 |
Operating expenses: | |||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 6,141,118 | 5,265,469 | 4,278,241 |
Selling, general and administrative expenses | 2,037,021 | 1,727,609 | 1,557,646 |
Depreciation and amortization expense | 199,664 | 172,201 | 149,089 |
Income from operations | 1,884,878 | 1,677,910 | 1,361,496 |
Other income (expense), net: | |||
Interest income | 62,444 | 48,896 | 44,514 |
Interest expense | -2,468 | 0 | 0 |
Foreign currency exchange gains (losses), net | -20,376 | -41,130 | -20,015 |
Other, net | -447 | 2,241 | 1,601 |
Total other income (expense), net | 39,153 | 10,007 | 26,100 |
Income before provision for income taxes | 1,924,031 | 1,687,917 | 1,387,596 |
Provision for income taxes | 484,764 | 459,339 | 336,333 |
Net income | $1,439,267 | $1,228,578 | $1,051,263 |
Basic earnings per share | $2.37 | $2.03 | $1.74 |
Diluted earnings per share | $2.35 | $2.02 | $1.72 |
Weighted average number of common shares outstanding—Basic | 608,126 | 604,015 | 602,582 |
Dilutive effect of shares issuable under stock-based compensation plans | 4,363 | 5,647 | 9,140 |
Weighted average number of common shares outstanding—Diluted | 612,489 | 609,662 | 611,722 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||
Net income | $1,439,267 | $1,228,578 | $1,051,263 |
Other comprehensive income (loss), net of tax: | |||
Foreign currency translation adjustments | -58,845 | 12,461 | 15,133 |
Change in unrealized losses on cash flow hedges, net of taxes | 213,251 | -47,183 | 70,229 |
Change in unrealized losses and gains on available-for-sale securities, net of taxes | -1,215 | -1,854 | 349 |
Other comprehensive income (loss) | 153,191 | -36,576 | 85,711 |
Comprehensive income | $1,592,458 | $1,192,002 | $1,136,974 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Total | Class A Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data, unless otherwise specified | |||||
Beginning balance at Dec. 31, 2011 | $3,952,886 | $6,062 | $689,692 | $3,582,526 | ($325,394) |
Beginning balance, shares at Dec. 31, 2011 | 606,212,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 1,051,263 | 1,051,263 | |||
Other comprehensive (loss) income | 85,711 | 85,711 | |||
Common stock issued, stock based compensation plans | 129,485 | 144 | 129,341 | ||
Common stock issued, stock based compensation plans, shares | 14,352,000 | ||||
Tax benefit, stock-based compensation plans | 48,528 | 48,528 | |||
Stock-based compensation expense | 107,355 | 107,355 | |||
Repurchases of common stock | -520,845 | -172 | -520,673 | ||
Repurchases of common stock, shares | -17,204,000 | ||||
Ending balance at Dec. 31, 2012 | 4,854,383 | 6,034 | 454,243 | 4,633,789 | -239,683 |
Ending balance, shares at Dec. 31, 2012 | 603,360,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 1,228,578 | 1,228,578 | |||
Other comprehensive (loss) income | -36,576 | -36,576 | |||
Common stock issued, stock based compensation plans | 117,556 | 96 | 117,460 | ||
Common stock issued, stock based compensation plans, shares | 9,622,000 | ||||
Tax benefit, stock-based compensation plans | 32,054 | 32,054 | |||
Stock-based compensation expense | 118,800 | 118,800 | |||
Repurchases of common stock | -179,004 | -53 | -178,951 | ||
Repurchases of common stock, shares | -5,253,000 | ||||
Ending balance at Dec. 31, 2013 | 6,135,791 | 6,077 | 543,606 | 5,862,367 | -276,259 |
Ending balance, shares at Dec. 31, 2013 | 607,729,000 | 607,729,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 1,439,267 | 1,439,267 | |||
Other comprehensive (loss) income | 153,191 | 153,191 | |||
Common stock issued, stock based compensation plans | 101,455 | 67 | 101,388 | ||
Common stock issued, stock based compensation plans, shares | 6,677,000 | ||||
Tax benefit, stock-based compensation plans | 24,006 | 24,006 | |||
Stock-based compensation expense | 134,825 | 134,825 | |||
Repurchases of common stock | -248,317 | -50 | -248,267 | ||
Repurchases of common stock, shares | -5,008,000 | ||||
Ending balance at Dec. 31, 2014 | $7,740,218 | $6,094 | $555,558 | $7,301,634 | ($123,068) |
Ending balance, shares at Dec. 31, 2014 | 609,398,000 | 609,398,000 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $1,439,267 | $1,228,578 | $1,051,263 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 208,067 | 179,930 | 156,588 |
Provision for doubtful accounts | 4,675 | 3,571 | 5,076 |
Deferred income taxes | -99,580 | -88,194 | -117,908 |
Stock-based compensation expense | 134,825 | 118,800 | 107,355 |
Excess tax benefits on stock-based compensation plans | -23,549 | -30,581 | -48,373 |
Other | 30,275 | 52,544 | 2,499 |
Changes in assets and liabilities: | |||
Trade accounts receivable | -259,332 | -258,469 | -158,603 |
Other current assets | -118,592 | -74,668 | -29,833 |
Other noncurrent assets | 19,121 | -24,338 | -36,692 |
Accounts payable | 25,681 | -12,123 | 32,773 |
Other current and noncurrent liabilities | 112,152 | 328,726 | 208,438 |
Net cash provided by operating activities | 1,473,010 | 1,423,776 | 1,172,583 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -212,203 | -261,626 | -334,465 |
Purchases of investments | -2,497,299 | -1,848,744 | -1,428,508 |
Proceeds from maturity or sale of investments | 2,240,245 | 1,573,412 | 1,252,821 |
Business combinations, net of cash acquired | -2,691,437 | -193,805 | -59,894 |
Net cash (used in) investing activities | -3,160,694 | -730,763 | -570,046 |
Cash flows from financing activities: | |||
Issuance of common stock under stock-based compensation plans | 101,455 | 117,556 | 129,484 |
Excess tax benefits on stock-based compensation plans | 23,549 | 30,581 | 48,373 |
Repurchases of common stock | -248,317 | -179,004 | -520,845 |
Proceeds from debt | 1,650,000 | 0 | 0 |
Repayments of debt | -14,184 | 0 | 0 |
Debt issuance costs | -9,093 | 0 | 0 |
Net cash provided by (used in) financing activities | 1,503,410 | -30,867 | -342,988 |
Effect of exchange rate changes on cash and cash equivalents | -18,583 | -19,217 | -378 |
(Decrease) increase in cash and cash equivalents | -202,857 | 642,929 | 259,171 |
Cash and cash equivalents, beginning of year | 2,213,006 | 1,570,077 | 1,310,906 |
Cash and cash equivalents, end of period | 2,010,149 | 2,213,006 | 1,570,077 |
Supplemental information: | |||
Cash paid for income taxes during the year | 558,554 | 480,980 | 402,098 |
Cash interest paid during the year | $105 | $0 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies |
The terms “Cognizant,” “we,” “our,” “us” and “the Company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. | |
Description of Business. We are a leading provider of information technology (IT), consulting and business process services, dedicated to helping the world’s leading companies innovate and build stronger businesses. Our clients engage us to help them operate more efficiently, provide solutions to critical business and technology problems, and help them drive technology-based innovation and growth. Our core competencies include: Business, Process, Operations and IT Consulting, Application Development and Systems Integration, Enterprise Information Management, or EIM, Application Testing, Application Maintenance, IT Infrastructure Services, or IT IS and Business Process Services, or BPS. We tailor our services to specific industries and utilize an integrated global delivery model. This seamless global sourcing model combines industry-specific expertise, client service teams based on-site at the client locations and delivery teams located at dedicated near-shore and offshore global delivery centers. | |
Basis of Presentation and Principles of Consolidation. The consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States of America, or U.S. GAAP, and reflect the consolidated financial position, results of operations, comprehensive income and cash flows of our consolidated subsidiaries for all periods presented. All intercompany balances and transactions have been eliminated in consolidation. | |
Stock Split. On February 4, 2014, our Board of Directors declared a two-for-one stock split of our Class A common stock in the form of a 100% stock dividend, which was paid on March 7, 2014 to stockholders of record as of February 21, 2014. The stock split has been reflected in the accompanying consolidated financial statements, and all applicable references as to the number of outstanding common shares and per share information herein, except par values, have been retroactively adjusted to reflect the stock split as if it occurred at the beginning of the earliest period presented. In addition, our stockholders’ equity accounts were restated to reflect the reclassification of an amount equal to the par value of the increase in issued common shares from the additional paid-in-capital account to the common stock accounts. | |
Cash and Cash Equivalents and Investments. Cash and cash equivalents consist of all cash balances, including money market funds and liquid instruments. Liquid instruments are classified as cash equivalents when their maturities at the date of purchase are three months or less and as short-term investments when their maturities at the date of purchase are greater than three months. | |
We determine the appropriate classification of our investments in marketable securities at the date of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable securities as available-for-sale. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these securities prior to their stated maturities. As we view these marketable securities as available to support current operations, we classify such securities with maturities at the date of purchase beyond twelve months as short-term investments because such investments represent an investment in cash that is available for current operations. | |
Available-for-sale securities are reported at fair value with changes in unrealized gains and losses recorded as a separate component of accumulated other comprehensive income (loss) until realized. We determine the cost of the securities sold based on the specific identification method. Time deposits with financial institutions are valued at cost, which approximates fair value. | |
Interest and amortization of premiums and discounts for debt securities are included in interest income. We also evaluate our available-for-sale investments periodically for possible other-than-temporary impairment by reviewing factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, whether we intend to sell the security and whether it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis. Once a decline in fair value is determined to be other-than-temporary, an impairment charge is generally recorded to income and a new cost basis in the investment is established. | |
Allowance for Doubtful Accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is determined by evaluating the relative credit-worthiness of each customer, historical collections experience and other information, including the aging of the receivables. We evaluate the collectibility of our accounts receivable on an on-going basis and write-off accounts when they are deemed to be uncollectible. | |
Unbilled Accounts Receivable. Unbilled accounts receivable represent revenues on contracts to be billed, in subsequent periods, as per the terms of the related contracts. | |
Short-term Financial Assets and Liabilities. Cash and cash equivalents, trade receivables, accounts payable and other accrued liabilities are short-term in nature and, accordingly, their carrying values approximate fair value. | |
Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the term of the lease or the estimated useful life of the improvement. In India, leasehold land is leased by us from the government of India with lease terms ranging up to 99 years. Lease payments are made at the inception of the lease agreement and amortized over the lease term. Maintenance and repairs are expensed as incurred, while renewals and betterments are capitalized. Deposits paid towards acquisition of long-lived assets and the cost of assets not put in use before the balance sheet date are disclosed under the caption “capital work-in-progress” in Note 4. | |
Internal Use Software. We capitalize certain costs that are incurred to purchase, develop and implement internal-use software during the application development phase, which primarily includes coding and testing and certain data conversion activities. Capitalized costs are amortized on a straight-line basis over the useful life of the software. Costs incurred performing activities associated with the preliminary project phases and post-implementation phases are expensed as incurred. | |
Business Combinations. We account for business combinations using the acquisition method, which requires the identification of the acquirer, the determination of the acquisition date, and the allocation of the purchase price paid by the acquirer to the identifiable tangible and intangible assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree at their acquisition date fair values. Goodwill represents the excess of the purchase price over the fair value of net assets acquired, including the amount assigned to identifiable intangible assets. Identifiable intangible assets with finite lives are amortized over their useful lives. Acquisition-related costs are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in our consolidated financial statements from the acquisition date. | |
Long-lived Assets and Finite-lived Intangibles. We review long-lived assets and certain finite-lived identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We recognize an impairment loss when the sum of undiscounted expected future cash flows is less than the carrying amount of such assets. The impairment loss would equal the amount by which the carrying amount of the asset exceeds the fair value of the asset. Other intangibles consist primarily of customer relationships and developed technology, which are being amortized on a straight-line basis over their estimated useful lives. | |
Goodwill and Indefinite-lived Intangibles. We evaluate goodwill and indefinite-lived intangible assets, at the reporting unit level, for impairment at least annually, or as circumstances warrant. If an impairment is indicated, a write down to fair value (normally measured by discounting estimated future cash flows) is recorded. | |
Stock Repurchase Program. Our existing stock repurchase program, as amended and approved by our Board of Directors, allows for the repurchase of $2,000,000 of our outstanding shares of Class A common stock and expires on December 31, 2015. Through December 31, 2014, we completed stock repurchases of 35,242,550 shares for $1,186,369, inclusive of fees and expenses, under this program. Additional stock repurchases were made in connection with our stock-based compensation plans, whereby Company shares were tendered by employees for payment of applicable statutory tax withholdings. During 2014, 2013, and 2012 such repurchases totaled 1,207,595, 1,165,872 and 1,065,184 shares, respectively, at an aggregate cost of $60,075, $47,442 and $34,925, respectively. At the time of repurchase, shares are returned to the status of authorized and unissued shares. We account for the repurchases as constructively retired and record such repurchases as a reduction of Class A common stock and additional paid-in capital. | |
Revenue Recognition. Revenues related to time-and-material contracts are recognized as the service is performed and amounts are earned. Revenues from transaction-priced contracts are recognized as transactions are processed and amounts are earned. Revenues related to fixed-price contracts for highly complex application development and systems integration services are recognized as the service is performed using the percentage of completion method of accounting, under which the total value of revenue is recognized on the basis of the percentage that each contract’s total labor cost to date bears to the total expected labor costs (cost to cost method). Revenues related to fixed price outsourcing services are recognized on a straight-line basis unless revenues are earned and obligations are fulfilled in a different pattern. Revenues related to fixed-price contracts for consulting or other IT services are recognized as services are performed on a proportional performance basis based upon the level of effort. | |
For all services, revenue is earned and recognized only when all of the following criteria are met: evidence of an arrangement is obtained, the price is fixed or determinable, the services have been rendered and collectibility is reasonably assured. Contingent or incentive revenues are recognized when the contingency is satisfied and we conclude the amounts are earned. Volume discounts are recorded as a reduction of revenue over the contract period as services are provided. Revenues also include the reimbursement of out-of-pocket expenses. | |
Costs to deliver services are expensed to cost of revenues as incurred with the exception of specific costs directly related to transition or set-up activities for outsourcing contracts. Transition costs are deferred and expensed ratably over the period of service. Generally, deferred amounts are protected in the event of early termination of the contract and are monitored regularly for impairment. Impairment losses are recorded when projected remaining undiscounted operating cash flows of the related contract are not sufficient to recover the carrying amount of the contract assets. Deferred transition costs were approximately $98,172 and $80,254 as of December 31, 2014 and 2013, respectively, and are included in other noncurrent assets in our consolidated statements of financial position. Costs related to warranty provisions are accrued at the time the related revenues are recorded. | |
We may enter into arrangements that consist of multiple elements. Such arrangements may include any combination of our consulting and technology services and outsourcing services. For arrangements with multiple deliverables, we evaluate at the inception of each new arrangement all deliverables to determine whether they represent separate units of accounting. For arrangements with multiple units of accounting, other than arrangements that contain software licenses and software-related services, we allocate consideration among the units of accounting, where separable, based on their relative selling price. Relative selling price is determined based on vendor-specific objective evidence, or VSOE, if it exists. Otherwise, third-party evidence of selling price is used, when it is available, and in circumstances when neither VSOE nor third-party evidence of selling price is available, management’s best estimate of selling price is used. Revenue is recognized for each unit of accounting based on our revenue recognition policy described above. | |
Fixed-price contracts are generally cancelable subject to a specified notice period. All services provided by us through the date of cancellation are due and payable under the contract terms. We issue invoices related to fixed-price contracts based upon achievement of milestones during a project or other contractual terms. Differences between the timing of billing, based on contract milestones or other contractual terms, and the recognition of revenue are recognized as either unbilled receivables or deferred revenue. Estimates of certain fixed-price contracts are subject to adjustment as a project progresses to reflect changes in expected completion costs or efforts. The cumulative impact of any revision in estimates is reflected in the financial reporting period in which the change in estimate becomes known and any anticipated losses on contracts are recognized immediately. | |
We also generate product revenue from licensing our software. For perpetual software license arrangements that do not require significant modification or customization of the underlying software, revenue is recognized when the software is delivered and all other software revenue recognition criteria are met. For software license arrangements that require significant functionality enhancements or modification of the software, revenue for the software license and those services is recognized as those services are performed. For software license arrangements that include a right to use the product for a defined period of time, we recognize revenue ratably over the term of the license. | |
We may enter into arrangements with customers that purchase both software licenses and software-related services from us at the same time, or within close proximity of one another (referred to as software-related multiple-element arrangements). Such software related multiple-element arrangements may include software licenses, software license updates, product support contracts and other software-related services. For those software related multiple-element arrangements, we apply the residual method to determine the amount of software license revenue. Under the residual method, if VSOE of fair value exists for undelivered elements in a multiple-element arrangement, such fair value of the undelivered elements is deferred with the remaining portion of the arrangement consideration generally recognized upon delivery of the software license. For arrangements in which VSOE of fair value does not exist for each software-related undelivered element, revenue for the software license is deferred and not recognized until VSOE of fair value is available for the undelivered element or delivery of each element has occurred. If the only undelivered element is a service, revenue from the delivered element is recognized over the service period. | |
We also enter into multiple-element arrangements that may include a combination of software licenses and various software-related and non-software-related services. In such arrangements, we first allocate the total arrangement consideration, based on relative selling prices, between the software group of elements and the non-software group of elements. We then further allocate consideration within the software group to the respective elements within that group following the software-related multiple-element arrangements policies described above. For the non-software group of elements, we further allocate consideration to the respective elements based on relative selling prices. After the arrangement consideration has been allocated to the individual elements, we account for each respective element in the arrangement as described above. | |
Stock-Based Compensation. Stock-based compensation expense for awards of equity instruments to employees and non-employee directors is determined based on the grant-date fair value of those awards. We recognize these compensation costs net of an estimated forfeiture rate over the requisite service period of the award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. | |
Foreign Currency. The assets and liabilities of our foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars from local currencies at current exchange rates and revenues and expenses are translated from local currencies at average monthly exchange rates. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss) on the accompanying consolidated statements of financial position. | |
Foreign currency transactions and balances are those that are denominated in a currency other than the subsidiary’s functional currency. The U.S. dollar is the functional currency for certain foreign subsidiaries who conduct business predominantly in U.S. dollars. For these subsidiaries, transactions and balances denominated in the local currency are foreign currency transactions. Foreign currency transactions and balances related to non-monetary assets and liabilities are remeasured to the functional currency of the subsidiary at historical exchange rates while monetary assets and liabilities are remeasured to the functional currency of the subsidiary at current exchange rates. Foreign currency exchange gains or losses from remeasurement are included in income. Net foreign currency exchange (losses) reported on our consolidated statement of operations are inclusive of gains or losses on our undesignated foreign currency hedges. | |
Derivative Financial Instruments. Derivative financial instruments are accounted for in accordance with the authoritative guidance which requires that each derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Our derivative financial instruments consist of foreign exchange forward contracts. For derivative financial instruments to qualify for hedge accounting, the following criteria must be met: (1) the hedging instrument must be designated as a hedge; (2) the hedged exposure must be specifically identifiable and expose us to risk; and (3) it is expected that a change in fair value of the derivative financial instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. The authoritative guidance also requires that changes in our derivatives’ fair values be recognized in income unless specific hedge accounting and documentation criteria are met (i.e., the instruments are accounted for as hedges). For items to which hedge accounting is applied, we record the effective portion of our derivative financial instruments that are designated as cash flow hedges in accumulated other comprehensive income (loss) in the accompanying consolidated statements of financial position. Any ineffectiveness or excluded portion of a designated cash flow hedge is recognized in income. | |
Use of Estimates. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including the recoverability of tangible and intangible assets, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the period. On an on-going basis, management reevaluates these estimates. The most significant estimates relate to the recognition of revenue and profits based on the percentage of completion method of accounting for certain fixed-bid contracts, the allowance for doubtful accounts, income taxes, valuation of goodwill, intangible assets and other long-lived assets, valuation of investments and derivative financial instruments, assumptions used in valuing stock-based compensation arrangements, contingencies and litigation. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements. | |
Risks and Uncertainties. The majority of our development and delivery centers and employees are located in India. As a result, we may be subject to certain risks associated with international operations, including risks associated with foreign currency exchange rate fluctuations and risks associated with the application and imposition of protective legislation and regulations relating to import and export or otherwise resulting from foreign policy or the variability of foreign economic or political conditions. Additional risks associated with international operations include difficulties in enforcing intellectual property rights, the burdens of complying with a wide variety of foreign laws, potential geo-political and other risks associated with terrorist activities and local or cross border conflicts and potentially adverse tax consequences, tariffs, quotas and other barriers. | |
Concentration of Credit Risk. Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents, time deposits, investments in securities, derivative financial instruments and trade accounts receivable. We maintain our cash and cash equivalents and investments with high credit quality financial institutions, invest in investment-grade debt securities and limit the amount of credit exposure to any one commercial issuer. Trade accounts receivable are dispersed across many customers operating in different industries; therefore, concentration of credit risk is limited. | |
Income Taxes. We provide for income taxes utilizing the asset and liability method of accounting. Under this method, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each balance sheet date, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. If it is determined that it is more likely than not that future tax benefits associated with a deferred income tax asset will not be realized, a valuation allowance is provided. The effect on deferred income tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. Tax benefits earned on exercise of employee stock options in excess of compensation charged to income are credited to additional paid-in capital. Our provision for income taxes also includes the impact of provisions established for uncertain income tax positions, as well as the related interest. | |
Earnings Per Share, or EPS. Basic EPS excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes all potential dilutive common stock in the weighted average shares outstanding. For purposes of computing diluted earnings per share for the years ended December 31, 2014, 2013 and 2012, respectively, 4,363,000, 5,647,000, and 9,140,000 shares were assumed to have been outstanding related to common share equivalents. We exclude options with exercise prices that are greater than the average market price for the period from the calculation of diluted EPS because their effect would be anti-dilutive. We excluded 4,300 shares in 2014, 6,800 shares in 2013, and 39,000 in 2012 from our diluted EPS calculation. Also, in accordance with the authoritative guidance, we excluded from the calculation of diluted EPS an additional 78,800 shares in 2014, 97,800 shares in 2013, and 158,600 shares in 2012, related to stock based awards whose combined exercise price, unamortized fair value and excess tax benefits were greater in each of those periods than the average market price of our common stock because their effect would be anti-dilutive. We include performance stock unit awards in the dilutive potential common shares when they become contingently issuable per the authoritative guidance and exclude the awards when they are not contingently issuable. | |
Recently Adopted Accounting Pronouncement. | |
In July 2013, the Financial Accounting Standards Board, or FASB, issued new guidance which requires the netting of any unrecognized tax benefits against all available same-jurisdiction deferred income tax carryforward assets that would apply if the uncertain tax positions were settled. We adopted this standard on January 1, 2014. As of December 31, 2014, we netted an unrecognized tax benefit of $94,784 against same-jurisdiction noncurrent deferred income tax assets. In our December 31, 2013 consolidated statement of financial position, we reclassified $74,196 from "other non-current liabilities" to non-current "deferred income tax assets, net" to conform to current period's presentation. The adoption of this standard had no effect on our consolidated results of operations or stockholder's equity. | |
New Accounting Pronouncement. | |
In May 2014, the FASB issued a standard on revenue from contracts with customers. The new standard sets forth a single comprehensive model for recognizing and reporting revenue. The standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. The new standard will be effective for periods beginning on or after January 1, 2017. Early adoption is not permitted. The standard allows for two methods of adoption: the full retrospective adoption, which requires the standard to be applied to each prior period presented, or the modified retrospective adoption, which requires the cumulative effect of adoption to be recognized as an adjustment to opening retained earnings in the period of adoption. We are currently evaluating the effect the new standard will have on our consolidated financial statements and related disclosures. |
Business_Combinations
Business Combinations | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||||
Business Combinations | Business Combinations | ||||||||||||||||||
TriZetto Acquisition: | |||||||||||||||||||
On November 20, 2014, we completed the acquisition of TZ US Parent, Inc. ("TriZetto"), a private U.S. healthcare information technology company for an aggregate purchase price, after giving effect to various purchase price adjustments, of approximately $2,627,830 (net of cash acquired of $170,510) ("the TriZetto Acquisition"). Such purchase price is subject to an additional adjustment upon finalization of the purchase price calculations with the seller, including an adjustment related to net working capital. The TriZetto acquisition positions Cognizant to better serve a wider cross-section of clients with an integrated solution set, combining technology with our healthcare services business. In connection with the acquisition of TriZetto, we entered into a credit agreement (“Credit Agreement”) with a commercial bank syndicate providing for a $1,000,000 unsecured term loan (“Term Loan”) and a $750,000 unsecured revolving credit facility (“Revolving Facility”). The Term Loan was used to pay a portion of the cash consideration in connection with the TriZetto Acquisition. | |||||||||||||||||||
Our preliminary allocation of purchase price as of November 20, 2014 (the closing date of the TriZetto Acquisition) to the fair value of assets acquired and liabilities assumed is as follows: | |||||||||||||||||||
Amount | |||||||||||||||||||
Cash | $ | 170,510 | |||||||||||||||||
Trade accounts receivable | 83,052 | ||||||||||||||||||
Unbilled accounts receivable | 32,463 | ||||||||||||||||||
Other current assets | 11,218 | ||||||||||||||||||
Property and equipment | 124,050 | ||||||||||||||||||
Identifiable intangible assets | 849,000 | ||||||||||||||||||
Other noncurrent assets | 14,782 | ||||||||||||||||||
Accounts payable | (12,395 | ) | |||||||||||||||||
Deferred revenue | (48,281 | ) | |||||||||||||||||
Accrued expenses and other current liabilities | (118,311 | ) | |||||||||||||||||
Other noncurrent liabilities | (54,833 | ) | |||||||||||||||||
Deferred income tax liabilities, net | (209,031 | ) | |||||||||||||||||
Goodwill | 1,956,116 | ||||||||||||||||||
Total purchase price | $ | 2,798,340 | |||||||||||||||||
We allocated the purchase price to the identifiable assets acquired and liabilities assumed based upon their estimated fair values. The excess of purchase price over the estimated fair value of the underlying assets acquired and liabilities assumed was allocated to goodwill. Such goodwill principally represents the value of synergies expected to be realized between Cognizant and TriZetto and the acquired assembled workforce, neither of which qualify as a separate amortizable intangible asset. The goodwill is not deductible for tax purposes and has been allocated to our Healthcare reportable segment. The allocation of the purchase price is based upon preliminary estimates and assumptions and is subject to completion of our analysis of the fair value of identifiable assets acquired and liabilities assumed as of the acquisition date. We will finalize the purchase price allocation as soon as practicable within the measurement period, but in no event later than one year following the date of acquisition. | |||||||||||||||||||
Acquired identifiable intangible assets were measured at fair value determined primarily using the income approach, which required a forecast of all expected future cash flows either through the use of the relief-from-royalty method or the excess earnings method. The estimated fair value of the identifiable intangible assets and their weighted-average useful lives are as follows: | |||||||||||||||||||
Fair Value | Weighted Average Useful Life | ||||||||||||||||||
Corporate trademark | $ | 63,000 | Indefinite | ||||||||||||||||
Product trademarks | 21,000 | 16.9 years | |||||||||||||||||
Technology | 328,000 | 7.7 years | |||||||||||||||||
Customer relationships | 437,000 | 15.8 years | |||||||||||||||||
Total | $ | 849,000 | |||||||||||||||||
TriZetto’s results of operations have been included in our financial statements for the period subsequent to the completion of the acquisition on November 20, 2014. The following unaudited pro forma information reflecting the combined operating results of Cognizant and TriZetto for the years ended December 31, 2014 and 2013 assumes the TriZetto Acquisition occurred on January 1, 2013. Such pro forma information does not reflect the potential realization of cost savings relating to the integration of TriZetto. Further, the pro forma information is not indicative of the combined results of operations that actually would have occurred had the TriZetto Acquisition been completed on January 1, 2013 nor is it intended to be a projection of future operating results. | |||||||||||||||||||
Unaudited Pro Forma Information | |||||||||||||||||||
For the Years Ended | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Revenues | $ | 10,893,037 | $ | 9,519,569 | |||||||||||||||
Income from operations | 1,959,491 | 1,253,207 | |||||||||||||||||
These amounts have been calculated after adjusting for the additional amortization and depreciation expense that would have been recorded assuming the fair value adjustments to finite-lived intangible assets and property, plant and equipment had been applied on January 1, 2013. | |||||||||||||||||||
The pro forma income from operations for the year ended December 31, 2014 was adjusted to exclude $40,613 of transaction related professional services costs and $94,341 of other costs incurred. Such costs were included in the pro forma income from operations for the year ended December 31, 2013. | |||||||||||||||||||
Supplemental schedule of noncash investing activities: | |||||||||||||||||||
In conjunction with the TriZetto acquisition, liabilities were assumed as follows: | |||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||
Fair value of assets acquired | $ | 3,070,681 | |||||||||||||||||
Purchase price paid in cash (net of cash acquired) | (2,627,830 | ) | |||||||||||||||||
Liabilities assumed | $ | 442,851 | |||||||||||||||||
Other acquisitions: | |||||||||||||||||||
During 2014, excluding the TriZetto Acquisition, we completed three other business combinations for total cash consideration of approximately $46,193 (net of cash acquired). These transactions strengthened our digital business capabilities and expertise to further develop the portfolio of digital solutions and services we offer our customers. As part of these business combinations, we acquired customer relationship assets, assembled workforces, developed technology and other assets. | |||||||||||||||||||
During 2013, we completed four business combinations for total cash consideration of approximately $184,200 (net of cash acquired). These transactions strengthened our local presence in Germany, Switzerland and France, expanded our expertise in enterprise application services and high-end testing services, broadened our business process services capabilities within finance and accounting, and strengthened our financial services management and regulatory consulting practice. As part of these business combinations, we acquired customer relationship assets, assembled workforces, a software platform and other assets. | |||||||||||||||||||
During 2012, we completed three business combinations for total cash consideration of approximately $28,100 (net of cash acquired). In August of 2012, we entered into a transaction pursuant to which we signed a multi-year service agreement, assumed an assembled workforce, and acquired land, building and other assets. Under the authoritative business combination guidelines, this transaction qualified as a business combination. This transaction expanded our business process services capabilities within the insurance industry. Additionally, in 2012, we completed two business combinations to strengthen our business process services and research capabilities within the media and healthcare industries. As part of these transactions, we acquired customer relationship assets, assembled workforces, and other assets. In addition, during 2012, we settled contingent payment provisions of approximately $31,400 related to business combinations completed in prior years. | |||||||||||||||||||
These acquisitions were included in our consolidated financial statements as of the date on which the businesses were acquired and were not material to our operations, financial position or cash flow. We have allocated the purchase price related to these transactions to tangible and intangible assets and liabilities, including goodwill, based on their fair values on their respective dates of acquisition, as follows: | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Fair Value | Useful Life | Fair Value | Useful Life | Fair Value | Useful Life | ||||||||||||||
Total initial consideration, net of cash acquired | $ | 46,193 | $ | 184,200 | $ | 28,100 | |||||||||||||
Purchase price allocated to: | |||||||||||||||||||
Non-deductible goodwill | 30,875 | 129,886 | 19,096 | ||||||||||||||||
Customer relationship intangible assets | 12,126 | 3-10 years | 58,572 | 5-10 years | 9,400 | 6-12 years | |||||||||||||
Other intangible assets | 4,320 | 1-4 years | 7,192 | 1-5 years | 600 | 5 years | |||||||||||||
The primary items that generated the aforementioned goodwill are the value of the synergies between the acquired companies and us and the acquired assembled workforces, neither of which qualify as an amortizable intangible asset. |
Shortterm_Investments
Short-term Investments | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments [Abstract] | ||||||||||||||||||||||||
Short-term Investments | Short-term Investments | |||||||||||||||||||||||
Our short-term investments were as follows as of December 31: | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 544,733 | $ | 506,285 | ||||||||||||||||||||
Corporate and other debt securities | 358,563 | 301,841 | ||||||||||||||||||||||
Certificates of deposit and commercial paper | 4,592 | 99,959 | ||||||||||||||||||||||
Asset-backed securities | 220,084 | 160,267 | ||||||||||||||||||||||
Municipal debt securities | 112,783 | 115,196 | ||||||||||||||||||||||
Mutual funds | 21,920 | 21,136 | ||||||||||||||||||||||
Total available-for-sale investment securities | 1,262,675 | 1,204,684 | ||||||||||||||||||||||
Time deposits | 501,902 | 329,783 | ||||||||||||||||||||||
Total short-term investments | $ | 1,764,577 | $ | 1,534,467 | ||||||||||||||||||||
Our available-for-sale investment securities consist of U.S. dollar denominated investments primarily in U.S. Treasury notes, U.S. government agency debt securities, municipal debt securities, non-U.S. government debt securities, U.S. and international corporate bonds, certificates of deposit, commercial paper, debt securities issued by supranational institutions, mutual funds invested in fixed income securities, and asset-backed securities, including Government National Mortgage Association (GNMA) mortgage backed securities and securities backed by auto loans, credit card receivables, and other receivables. Our investment guidelines are to purchase securities which are investment grade at the time of acquisition. We monitor the credit ratings of the securities in our portfolio on an ongoing basis. The carrying value of the time deposits approximated fair value as of December 31, 2014 and 2013. | ||||||||||||||||||||||||
Available-for-Sale Investment Securities | ||||||||||||||||||||||||
The amortized cost, gross unrealized gains and losses and fair value of available-for-sale investment securities were as follows at December 31: | ||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 544,690 | $ | 369 | $ | (326 | ) | $ | 544,733 | |||||||||||||||
Corporate and other debt securities | 358,990 | 339 | (766 | ) | 358,563 | |||||||||||||||||||
Certificates of deposit and commercial paper | 4,593 | — | (1 | ) | 4,592 | |||||||||||||||||||
Asset-backed securities | 220,358 | 76 | (350 | ) | 220,084 | |||||||||||||||||||
Municipal debt securities | 112,499 | 351 | (67 | ) | 112,783 | |||||||||||||||||||
Mutual funds | 23,940 | 329 | (2,349 | ) | 21,920 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,265,070 | $ | 1,464 | $ | (3,859 | ) | $ | 1,262,675 | |||||||||||||||
2013 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 506,094 | $ | 544 | $ | (353 | ) | $ | 506,285 | |||||||||||||||
Corporate and other debt securities | 300,994 | 1,090 | (243 | ) | 301,841 | |||||||||||||||||||
Certificates of deposit and commercial paper | 99,897 | 62 | — | 99,959 | ||||||||||||||||||||
Asset-backed securities | 160,559 | 99 | (391 | ) | 160,267 | |||||||||||||||||||
Municipal debt securities | 114,888 | 348 | (40 | ) | 115,196 | |||||||||||||||||||
Mutual funds | 22,705 | 280 | (1,849 | ) | 21,136 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,205,137 | $ | 2,423 | $ | (2,876 | ) | $ | 1,204,684 | |||||||||||||||
The fair value and related unrealized losses of available-for-sale investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of December 31: | ||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 256,893 | $ | (326 | ) | $ | — | $ | — | $ | 256,893 | $ | (326 | ) | ||||||||||
Corporate and other debt securities | 229,669 | (766 | ) | — | — | 229,669 | (766 | ) | ||||||||||||||||
Certificates of deposit and commercial paper | 3,692 | (1 | ) | — | — | 3,692 | (1 | ) | ||||||||||||||||
Asset-backed securities | 151,919 | (302 | ) | 2,799 | (48 | ) | 154,718 | (350 | ) | |||||||||||||||
Municipal debt securities | 28,036 | (67 | ) | — | — | 28,036 | (67 | ) | ||||||||||||||||
Mutual funds | — | — | 20,716 | (2,349 | ) | 20,716 | (2,349 | ) | ||||||||||||||||
Total | $ | 670,209 | $ | (1,462 | ) | $ | 23,515 | $ | (2,397 | ) | $ | 693,724 | $ | (3,859 | ) | |||||||||
2013 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 221,548 | $ | (353 | ) | $ | — | $ | — | $ | 221,548 | $ | (353 | ) | ||||||||||
Corporate and other debt securities | 106,485 | (243 | ) | — | — | 106,485 | (243 | ) | ||||||||||||||||
Asset-backed securities | 84,051 | (333 | ) | 5,048 | (58 | ) | 89,099 | (391 | ) | |||||||||||||||
Municipal debt securities | 10,702 | (34 | ) | 1,019 | (6 | ) | 11,721 | (40 | ) | |||||||||||||||
Mutual funds | — | — | 20,183 | (1,849 | ) | 20,183 | (1,849 | ) | ||||||||||||||||
Total | $ | 422,786 | $ | (963 | ) | $ | 26,250 | $ | (1,913 | ) | $ | 449,036 | $ | (2,876 | ) | |||||||||
The unrealized losses for the above securities as of December 31, 2014 and 2013 are primarily attributable to changes in interest rates. As of December 31, 2014, we do not consider any of the investments to be other-than-temporarily impaired. The gross unrealized gains and losses in the above tables were recorded, net of tax, in accumulated other comprehensive income (loss). | ||||||||||||||||||||||||
The contractual maturities of our fixed income available-for-sale investment securities as of December 31, 2014 are set forth in the following table: | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due within one year | $ | 65,735 | $ | 65,766 | ||||||||||||||||||||
Due after one year up to two years | 461,035 | 461,315 | ||||||||||||||||||||||
Due after two years up to three years | 478,111 | 477,710 | ||||||||||||||||||||||
Due after three years up to four years | 15,891 | 15,880 | ||||||||||||||||||||||
Asset-backed securities | 220,358 | 220,084 | ||||||||||||||||||||||
Fixed income available-for-sale investment securities | $ | 1,241,130 | $ | 1,240,755 | ||||||||||||||||||||
Asset-backed securities were excluded from the maturity categories because the actual maturities may differ from the contractual maturities since the underlying receivables may be prepaid without penalties. Further, actual maturities of debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. | ||||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities and the gross gains and losses that have been included in earnings as a result of those sales were as follows: | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities | $ | 1,475,623 | $ | 1,119,822 | $ | 697,406 | ||||||||||||||||||
Gross gains | $ | 2,199 | $ | 1,951 | $ | 2,410 | ||||||||||||||||||
Gross losses | (391 | ) | (554 | ) | (402 | ) | ||||||||||||||||||
Net realized gains on sales of available-for-sale investment securities | $ | 1,808 | $ | 1,397 | $ | 2,008 | ||||||||||||||||||
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Property, Plant and Equipment, Net [Abstract] | |||||||||||
Property and Equipment, net | Property and Equipment, net | ||||||||||
Property and equipment were as follows as of December 31: | |||||||||||
Estimated Useful Life (Years) | 2014 | 2013 | |||||||||
Buildings | 30 | $ | 605,052 | $ | 444,955 | ||||||
Computer equipment and software | 3 | 537,298 | 426,527 | ||||||||
Furniture and equipment | 5 – 9 | 322,579 | 273,815 | ||||||||
Land | 22,644 | 22,644 | |||||||||
Leasehold land | lease term | 60,111 | 60,306 | ||||||||
Capital work-in-progress | 304,676 | 360,578 | |||||||||
Leasehold improvements | Shorter of the lease term or | 246,969 | 211,675 | ||||||||
the life of the leased asset | |||||||||||
Sub-total | 2,099,329 | 1,800,500 | |||||||||
Accumulated depreciation and amortization | (852,124 | ) | (719,336 | ) | |||||||
Property and equipment, net | $ | 1,247,205 | $ | 1,081,164 | |||||||
Depreciation and amortization expense related to property and equipment was $172,111, $155,681, and $137,561 for the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||||
At December 31, 2014, the gross amount of property and equipment recorded under capital leases was $36,950 and primarily related to buildings. Amortization expense related to capital lease assets was immaterial for the periods presented. | |||||||||||
In India, leasehold land is leased by us from the government of India with lease terms ranging up to 99 years. Lease payments are made at the inception of the lease agreement and amortized over the lease term. Amortization expense of leasehold land is immaterial for the periods presented and is included in depreciation and amortization expense in our accompanying consolidated statements of operations. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets, net | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, net | ||||||||||||||||
Changes in goodwill by our reportable segments were as follows for the years ended December 31, 2014 and 2013: | |||||||||||||||||
Segment | 1-Jan-14 | Goodwill Additions | Foreign Currency Translation Adjustments | 31-Dec-14 | |||||||||||||
Financial Services | $ | 208,588 | $ | 3,963 | $ | (8,133 | ) | $ | 204,418 | ||||||||
Healthcare | 107,409 | 1,976,924 | (4,410 | ) | 2,079,923 | ||||||||||||
Manufacturing/Retail/Logistics | 71,644 | 699 | (3,154 | ) | 69,189 | ||||||||||||
Other | 56,595 | 5,405 | (1,966 | ) | 60,034 | ||||||||||||
Total goodwill | $ | 444,236 | $ | 1,986,991 | $ | (17,663 | ) | $ | 2,413,564 | ||||||||
Segment | 1-Jan-13 | Goodwill Additions | Foreign Currency Translation Adjustments | 31-Dec-13 | |||||||||||||
Financial Services | $ | 137,677 | $ | 68,517 | $ | 2,394 | $ | 208,588 | |||||||||
Healthcare | 78,977 | 27,168 | 1,264 | 107,409 | |||||||||||||
Manufacturing/Retail/Logistics | 48,304 | 22,412 | 928 | 71,644 | |||||||||||||
Other | 44,227 | 11,789 | 579 | 56,595 | |||||||||||||
Total goodwill | $ | 309,185 | $ | 129,886 | $ | 5,165 | $ | 444,236 | |||||||||
In 2014 and 2013, the increase in goodwill was primarily related to business combinations completed during the period and described in Note 2. We have not recognized any impairment losses on our goodwill balances. | |||||||||||||||||
Components of intangible assets were as follows as of December 31: | |||||||||||||||||
2014 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
Customer relationships | $ | 644,408 | $ | (112,227 | ) | $ | 532,181 | ||||||||||
Developed technology | 332,161 | (8,690 | ) | 323,471 | |||||||||||||
Indefinite life trademarks | 63,000 | — | 63,000 | ||||||||||||||
Other | 45,809 | (10,712 | ) | 35,097 | |||||||||||||
Total intangible assets | $ | 1,085,378 | $ | (131,629 | ) | $ | 953,749 | ||||||||||
2013 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
Customer relationships | $ | 203,543 | $ | (88,159 | ) | $ | 115,384 | ||||||||||
Developed technology | 4,250 | (2,994 | ) | 1,256 | |||||||||||||
Other | 21,438 | (6,804 | ) | 14,634 | |||||||||||||
Total intangible assets | $ | 229,231 | $ | (97,957 | ) | $ | 131,274 | ||||||||||
Other than certain trademarks with indefinite lives, our intangible assets have finite lives and as such are subject to amortization. Amortization of intangible assets totaled $35,956 for 2014, $24,249 for 2013, and $19,027 for 2012. During 2014, 2013 and 2012, amortization of $8,403, $7,729 and $7,499, respectively, relating to customer relationship intangible assets was recorded as a reduction of revenues. These intangible assets are attributed to direct revenue contracts with sellers of acquired businesses. | |||||||||||||||||
Estimated amortization expense related to our existing intangible assets for the next five years are as follows: | |||||||||||||||||
Year | Amount | ||||||||||||||||
2015 | $ | 97,095 | |||||||||||||||
2016 | 95,467 | ||||||||||||||||
2017 | 92,578 | ||||||||||||||||
2018 | 84,903 | ||||||||||||||||
2019 | 82,691 | ||||||||||||||||
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accrued Expenses And Other Current Liabilities [Abstract] | ||||||||
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities | |||||||
Accrued expenses and other current liabilities were as follows as of December 31: | ||||||||
2014 | 2013 | |||||||
Compensation and benefits | $ | 906,747 | $ | 894,986 | ||||
Income taxes | 23,846 | 24,312 | ||||||
Professional fees | 82,664 | 45,453 | ||||||
Travel and entertainment | 35,013 | 29,645 | ||||||
Customer volume incentives | 192,114 | 170,669 | ||||||
Derivative financial instruments | 97,302 | 191,584 | ||||||
Other | 184,605 | 121,572 | ||||||
Total accrued expenses and other current liabilities | $ | 1,522,291 | $ | 1,478,221 | ||||
Debt
Debt | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Debt Disclosure [Abstract] | |||||
Debt | Debt | ||||
On November 20, 2014, we entered into a Credit Agreement with a commercial bank syndicate providing for a $1,000,000 unsecured Term Loan and a $750,000 unsecured Revolving Facility. The Term Loan was used to pay a portion of the cash consideration in connection with the TriZetto Acquisition. The Revolving Facility is available for general corporate purposes. The Term Loan and the Revolving Facility both mature on November 20, 2019. As of December 31, 2014, we have drawn down $650,000 under the Revolving Facility. We are required under the Credit Agreement to make scheduled quarterly principal payments on the Term Loan. | |||||
The Credit Agreement requires interest to be paid at either the base rate or the Eurocurrency rate, plus a margin. The margin over the base rate is 0.00%, and the margin over the Eurocurrency rate ranges from 0.75% to 1.125%, depending on our debt ratings (or, if we have not received debt ratings, from 0.875% to 1.00%, depending on our debt to total stockholders' equity ratio). Under the Credit Agreement, we are required to pay commitment fees on the unused portion of the Revolving Facility, which fees vary based on our debt ratings (or, if we have not received debt ratings, our debt to total stockholders' equity ratio). At December 31, 2014, the interest rates on the Term Loan and Revolving Facility were 1.23% and 1.16%, respectively. | |||||
The Credit Agreement contains certain negative covenants, including limitations on liens, mergers, consolidations and acquisitions, subsidiary indebtedness and affiliate transactions, as well as certain affirmative covenants. In addition, the Credit Agreement requires us to maintain a debt to total stockholders' equity ratio not in excess of 0.40:1.00. As of December 31, 2014, we are in compliance with our debt covenants. | |||||
Deferred financing costs of $6,047 related to the Credit Agreement are being amortized over 5 years. As of December 31, 2014, $5,705 of deferred financing costs are reflected in other noncurrent assets in the accompanying consolidated statement of financial position. | |||||
On September 14, 2014, we entered into an unsecured bridge facility (the “Bridge Facility”) that allowed us to borrow up to $1,000,000 to finance the TriZetto Acquisition and to pay fees and expenses in connection therewith. Upon entering into the Credit Agreement, the Bridge Facility was terminated and financing costs of $3,046, related to the Bridge Facility, were expensed. | |||||
There were no short-term or long-term debt balances outstanding as of December 31, 2013. | |||||
Short-term Debt | |||||
The following summarizes our short-term debt balances as of December 31: | |||||
2014 | |||||
Notes drawn under Revolving Facility | $ | 650,000 | |||
Term Loan - current maturities | 50,000 | ||||
Other | 2 | ||||
Total short-term debt | $ | 700,002 | |||
We have classified debt outstanding under our Revolving Facility as a short-term obligation on our consolidated statement of financial position. While the Revolving Facility has a contractual term beyond one year, it requires an execution of a note for each borrowing under the facility and such notes are each less than one year in duration. In addition, management does not intend to continuously replace the notes executed under the Revolving Facility for a continuous period that extends beyond one year. | |||||
Long-term Debt | |||||
The following summarizes our long-term debt balances as of December 31: | |||||
2014 | |||||
Term Loan, due 2019 | $ | 987,500 | |||
Less: current maturities | (50,000 | ) | |||
Long-term debt, net of current maturities | $ | 937,500 | |||
The following represents the schedule of maturities of long-term debt during the next five fiscal years: | |||||
Years | Amounts | ||||
2015 | $ | 50,000 | |||
2016 | 56,250 | ||||
2017 | 81,250 | ||||
2018 | 100,000 | ||||
2019 | 700,000 | ||||
$ | 987,500 | ||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the year ended December 31, 2014: | ||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Before Tax | Tax | Net of Tax | ||||||||||||||||||||||
Amount | Effect | Amount | ||||||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | 24,033 | $ | — | $ | 24,033 | ||||||||||||||||||
Change in foreign currency translation adjustments | (58,845 | ) | — | (58,845 | ) | |||||||||||||||||||
Ending balance | $ | (34,812 | ) | $ | — | $ | (34,812 | ) | ||||||||||||||||
Unrealized gains (losses) on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | (453 | ) | $ | 154 | $ | (299 | ) | ||||||||||||||||
Net unrealized gains arising during the period | (159 | ) | 73 | (86 | ) | |||||||||||||||||||
Reclassification of net (gains) to Other, net | (1,783 | ) | 654 | (1,129 | ) | |||||||||||||||||||
Net change | (1,942 | ) | 727 | (1,215 | ) | |||||||||||||||||||
Ending balance | $ | (2,395 | ) | $ | 881 | $ | (1,514 | ) | ||||||||||||||||
Unrealized gains (losses) on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (354,876 | ) | $ | 54,883 | $ | (299,993 | ) | ||||||||||||||||
Unrealized gains arising during the period | 115,651 | (17,885 | ) | 97,766 | ||||||||||||||||||||
Reclassifications of losses to: | ||||||||||||||||||||||||
Cost of revenues | 113,367 | (17,533 | ) | 95,834 | ||||||||||||||||||||
Selling, general and administrative expenses | 23,245 | (3,594 | ) | 19,651 | ||||||||||||||||||||
Net change | 252,263 | (39,012 | ) | 213,251 | ||||||||||||||||||||
Ending balance | $ | (102,613 | ) | $ | 15,871 | $ | (86,742 | ) | ||||||||||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (331,296 | ) | $ | 55,037 | $ | (276,259 | ) | ||||||||||||||||
Other comprehensive income (loss) | 191,476 | (38,285 | ) | 153,191 | ||||||||||||||||||||
Ending balance | $ | (139,820 | ) | $ | 16,752 | $ | (123,068 | ) | ||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Before Tax | Tax | Net of Tax | Before Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | Effect | Amount | Amount | Effect | Amount | |||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | 11,572 | $ | — | $ | 11,572 | $ | (3,561 | ) | $ | — | $ | (3,561 | ) | ||||||||||
Change in foreign currency translation adjustments | 12,461 | — | 12,461 | 15,133 | — | 15,133 | ||||||||||||||||||
Ending balance | $ | 24,033 | $ | — | $ | 24,033 | $ | 11,572 | $ | — | $ | 11,572 | ||||||||||||
Unrealized gains (losses) on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | 2,440 | $ | (885 | ) | $ | 1,555 | $ | 1,986 | $ | (780 | ) | $ | 1,206 | ||||||||||
Net unrealized (losses) gains arising during the period | (1,638 | ) | 582 | (1,056 | ) | 1,970 | (727 | ) | 1,243 | |||||||||||||||
Reclassification of net (gains) to Other, net | (1,255 | ) | 457 | (798 | ) | (1,516 | ) | 622 | (894 | ) | ||||||||||||||
Net change | (2,893 | ) | 1,039 | (1,854 | ) | 454 | (105 | ) | 349 | |||||||||||||||
Ending balance | $ | (453 | ) | $ | 154 | $ | (299 | ) | $ | 2,440 | $ | (885 | ) | $ | 1,555 | |||||||||
Unrealized gains (losses) on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | $ | (385,640 | ) | $ | 62,601 | $ | (323,039 | ) | ||||||||
Unrealized (losses) arising during the period | (221,275 | ) | 36,248 | (185,027 | ) | (7,065 | ) | (3,548 | ) | (10,613 | ) | |||||||||||||
Reclassifications of net losses to: | ||||||||||||||||||||||||
Cost of revenues | 135,044 | (20,839 | ) | 114,205 | 79,335 | (12,601 | ) | 66,734 | ||||||||||||||||
Selling, general and administrative expenses | 27,950 | (4,311 | ) | 23,639 | 16,775 | (2,667 | ) | 14,108 | ||||||||||||||||
Net change | (58,281 | ) | 11,098 | (47,183 | ) | 89,045 | (18,816 | ) | 70,229 | |||||||||||||||
Ending balance | $ | (354,876 | ) | $ | 54,883 | $ | (299,993 | ) | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | ||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | $ | (387,215 | ) | $ | 61,821 | $ | (325,394 | ) | ||||||||
Other comprehensive income (loss) | (48,713 | ) | 12,137 | (36,576 | ) | 104,632 | (18,921 | ) | 85,711 | |||||||||||||||
Ending balance | $ | (331,296 | ) | $ | 55,037 | $ | (276,259 | ) | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | ||||||||
Employee_Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2014 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Employee Benefits | Employee Benefits |
We contribute to defined contribution plans in the United States and Europe, including 401(k) savings and supplemental retirement plans in the United States. Total expenses for Company contributions to these plans were $45,061, $34,628, and $24,789 for the years ended December 31, 2014, 2013, and 2012, respectively. | |
We maintain employee benefit plans that cover substantially all India-based employees. The employees’ provident fund, pension and family pension plans are statutorily defined contribution retirement benefit plans. Under the plans, employees contribute up to 12% of their base compensation, which is matched by an equal contribution by the Company. For these plans, we recognized a contribution expense of $63,397, $56,070, and $54,125 for the years ended December 31, 2014, 2013, and 2012, respectively. | |
We also maintain a gratuity plan in India that is a statutory post-employment benefit plan providing defined lump sum benefits. We make annual contributions to the employees’ gratuity fund established with a government-owned insurance corporation to fund a portion of the estimated obligation. Accordingly, our liability for the gratuity plan reflects the undiscounted benefit obligation payable as of the balance sheet date which was based upon the employees’ salary and years of service. As of December 31, 2014 and 2013, the amount accrued under the gratuity plan was $90,794 and $69,629, which is net of fund assets of $66,697 and $55,004, respectively. Expense recognized by us was $36,444, $30,962, and $28,496 for the years ended December 31, 2014, 2013, and 2012, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||
Income Taxes | Income Taxes | |||||||||||||||||||||
Income before provision for income taxes shown below is based on the geographic location to which such income is attributed for years ended December 31: | ||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
United States | $ | 589,168 | $ | 540,738 | $ | 381,940 | ||||||||||||||||
Foreign | 1,334,863 | 1,147,179 | 1,005,656 | |||||||||||||||||||
Income before provision for income taxes | $ | 1,924,031 | $ | 1,687,917 | $ | 1,387,596 | ||||||||||||||||
The provision for income taxes consists of the following components for the years ended December 31: | ||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Current: | ||||||||||||||||||||||
Federal and state | $ | 260,264 | $ | 269,974 | $ | 265,826 | ||||||||||||||||
Foreign | 324,080 | 277,559 | 188,415 | |||||||||||||||||||
Total current | 584,344 | 547,533 | 454,241 | |||||||||||||||||||
Deferred: | ||||||||||||||||||||||
Federal and state | (20,148 | ) | (37,085 | ) | (99,649 | ) | ||||||||||||||||
Foreign | (79,432 | ) | (51,109 | ) | (18,259 | ) | ||||||||||||||||
Total deferred | (99,580 | ) | (88,194 | ) | (117,908 | ) | ||||||||||||||||
Total provision for income taxes | $ | 484,764 | $ | 459,339 | $ | 336,333 | ||||||||||||||||
The reconciliation between our effective income tax rate and the U.S. federal statutory rate were as follows for the years ended December 31: | ||||||||||||||||||||||
2014 | % | 2013 | % | 2012 | % | |||||||||||||||||
Tax expense, at U.S. federal statutory rate | $ | 673,411 | 35 | $ | 590,771 | 35 | $ | 485,659 | 35 | |||||||||||||
State and local income taxes, net of federal benefit | 34,466 | 1.8 | 33,147 | 2 | 24,032 | 1.7 | ||||||||||||||||
Non-taxable income for Indian tax purposes | (182,973 | ) | (9.5 | ) | (146,326 | ) | (8.7 | ) | (151,789 | ) | (10.9 | ) | ||||||||||
Rate differential on foreign earnings | (31,757 | ) | (1.7 | ) | (24,606 | ) | (1.5 | ) | (22,126 | ) | (1.6 | ) | ||||||||||
Other | (8,383 | ) | (0.4 | ) | 6,353 | 0.4 | 557 | 0 | ||||||||||||||
Total provision for income taxes | $ | 484,764 | 25.2 | $ | 459,339 | 27.2 | $ | 336,333 | 24.2 | |||||||||||||
The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31: | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Deferred income tax assets: | ||||||||||||||||||||||
Net operating losses | $ | 9,999 | $ | 8,831 | ||||||||||||||||||
Revenue recognition | 56,478 | 34,368 | ||||||||||||||||||||
Compensation and benefits | 145,633 | 132,134 | ||||||||||||||||||||
Stock-based compensation | 22,532 | 23,202 | ||||||||||||||||||||
Minimum alternative tax (MAT) and other credits | 184,257 | 142,903 | ||||||||||||||||||||
Depreciation and amortization | — | 4,720 | ||||||||||||||||||||
Other accrued expenses | 101,669 | 70,193 | ||||||||||||||||||||
Other | 15,078 | 10,170 | ||||||||||||||||||||
535,646 | 426,521 | |||||||||||||||||||||
Less: valuation allowance | (11,420 | ) | (5,659 | ) | ||||||||||||||||||
Deferred income tax assets, net | 524,226 | 420,862 | ||||||||||||||||||||
Deferred income tax liabilities: | ||||||||||||||||||||||
Depreciation and amortization | 21,169 | — | ||||||||||||||||||||
Intangible assets | 280,649 | 38,653 | ||||||||||||||||||||
Deferred income tax liabilities | 301,818 | 38,653 | ||||||||||||||||||||
Net deferred income tax assets | $ | 222,408 | $ | 382,209 | ||||||||||||||||||
At December 31, 2014, we had foreign and U.S. net operating loss carryforwards of approximately $20,085 and $19,715, respectively. We have recorded valuation allowances on certain foreign net operating loss carryforwards. As of December 31, 2014 and 2013, deferred income tax assets related to the minimum alternative tax, or MAT, were approximately $218,500 and $195,000, respectively. The calculation of the MAT includes all profits realized by our Indian subsidiaries and any MAT paid is creditable against future corporate income tax, subject to certain limitations. Our existing MAT assets expire between March 2018 and March 2025 and we expect to fully utilize them within the applicable 10-year expiration periods. In the table above, certain unrecognized income tax benefits have been netted against available same-jurisdiction deferred income tax carryforward assets. | ||||||||||||||||||||||
Our Indian subsidiaries, collectively referred to as Cognizant India, are primarily export-oriented and are eligible for certain income tax holiday benefits granted by the government of India for export activities conducted within Special Economic Zones, or SEZs, for periods of up to 15 years. Our SEZ income tax holiday benefits are currently scheduled to expire in whole or in part during the years 2016 to 2024 and may be extended on a limited basis for an additional five years per unit if certain reinvestment criteria are met. Our Indian profits ineligible for SEZ benefits are subject to corporate income tax at the rate of 33.99%. In addition, all Indian profits, including those generated within SEZs, are subject to the MAT, at the current rate of approximately 21.0%, including surcharges. For the years ended December 31, 2014, 2013, and 2012, the effect of the income tax holidays granted by the Indian government was to reduce the overall income tax provision and increase net income by approximately $182,973, $146,326, and $151,789, respectively, and increase diluted EPS by $0.30, $0.24, and $0.25, respectively. | ||||||||||||||||||||||
We pursue an international strategy that includes expanded infrastructure investments in India and geographic expansion outside the United States. Therefore, other than foreign earnings for which we have already accrued U.S. taxes, we do not intend to repatriate our foreign earnings as such earnings are deemed to be indefinitely reinvested outside the United States. As of December 31, 2014, the amount of unrepatriated Indian earnings and total foreign earnings (including unrepatriated Indian earnings) upon which no incremental U.S. taxes have been recorded is approximately $5,455,000 and $6,121,000, respectively. If such earnings are repatriated in the future, or are no longer deemed to be indefinitely reinvested, we will accrue the applicable amount of taxes associated with such earnings at that time. Due to the various methods by which such earnings could be repatriated in the future, it is not practicable to determine the amount of applicable taxes that would result from such repatriation. | ||||||||||||||||||||||
Due to the geographical scope of our operations, we are subject to tax examinations in various jurisdictions. Accordingly, we record incremental tax expense, based upon the more-likely-than-not standard, for any uncertain tax positions. In addition, when applicable, we adjust the previously recorded income tax expense to reflect examination results when the position is effectively settled or otherwise resolved. Our ongoing evaluations of the more-likely-than-not outcomes of the examinations and related tax positions require judgment and can result in adjustments that increase or decrease our effective income tax rate, as well as impact our operating results. The specific timing of when the resolution of each tax position will be reached is uncertain. | ||||||||||||||||||||||
Changes in unrecognized income tax benefits were as follows for the years ended December 31: | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Balance, beginning of year | $ | 96,610 | $ | 92,721 | ||||||||||||||||||
Additions based on tax positions related to the current year | 7,787 | 12,982 | ||||||||||||||||||||
Additions for tax positions of prior years | 5,836 | 14,854 | ||||||||||||||||||||
Additions for tax positions of acquired subsidiaries | 29,238 | — | ||||||||||||||||||||
Reductions for tax positions due to lapse of statutes of limitations | — | (4,353 | ) | |||||||||||||||||||
Reductions for tax positions of prior years | — | (10,199 | ) | |||||||||||||||||||
Settlements | — | — | ||||||||||||||||||||
Foreign currency exchange movement | (3,900 | ) | (9,395 | ) | ||||||||||||||||||
Balance, end of year | $ | 135,571 | $ | 96,610 | ||||||||||||||||||
At December 31, 2014, the entire balance of unrecognized income tax benefits would affect our effective income tax rate, if recognized. While the Company believes uncertain tax positions may be settled or resolved within the next twelve months, it is difficult to estimate the income tax impact of these potential resolutions at this time. We recognize accrued interest and any penalties associated with uncertain tax positions as part of our provision for income taxes. The total amount of accrued interest and penalties at December 31, 2014 and 2013 was approximately $11,153 and $8,725, respectively, and relates to U.S. and foreign tax matters. The amounts of interest and penalties expensed in 2014, 2013, and 2012 were immaterial. | ||||||||||||||||||||||
We file a U.S. federal consolidated income tax return. The U.S. federal statute of limitations remains open for the years 2011 and onward. The statute of limitations for state audits varies by state. Years still under examination by foreign tax authorities are years 2001 and forward. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value Measurements | Fair Value Measurements | |||||||||||||||
We measure our cash equivalents, investments and foreign exchange forward contracts at fair value. The authoritative guidance defines fair value as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions. | ||||||||||||||||
The fair value hierarchy consists of the following three levels: | ||||||||||||||||
• | Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities. | |||||||||||||||
• | Level 2 – Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. | |||||||||||||||
• | Level 3 – Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. | |||||||||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2014: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 176,474 | $ | — | $ | — | $ | 176,474 | ||||||||
Commercial paper | — | 7,400 | — | 7,400 | ||||||||||||
Total cash equivalents | 176,474 | 7,400 | — | 183,874 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 501,902 | — | 501,902 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 426,847 | 117,886 | — | 544,733 | ||||||||||||
Corporate and other debt securities | — | 358,563 | — | 358,563 | ||||||||||||
Certificates of deposit and commercial paper | — | 4,592 | — | 4,592 | ||||||||||||
Asset-backed securities | — | 220,084 | — | 220,084 | ||||||||||||
Municipal debt securities | — | 112,783 | — | 112,783 | ||||||||||||
Mutual funds | — | 21,920 | — | 21,920 | ||||||||||||
Total available-for-sale investment securities | 426,847 | 835,828 | — | 1,262,675 | ||||||||||||
Total short-term investments | 426,847 | 1,337,730 | — | 1,764,577 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 2,731 | — | 2,731 | ||||||||||||
Accrued expenses and other current liabilities | — | (97,302 | ) | — | (97,302 | ) | ||||||||||
Other noncurrent assets | — | 3,879 | — | 3,879 | ||||||||||||
Other noncurrent liabilities | — | (9,962 | ) | — | (9,962 | ) | ||||||||||
Total | $ | 603,321 | $ | 1,244,476 | $ | — | $ | 1,847,797 | ||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2013: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 694,416 | $ | — | $ | — | $ | 694,416 | ||||||||
Time deposits | — | 128,654 | — | 128,654 | ||||||||||||
Commercial paper | — | 22,000 | — | 22,000 | ||||||||||||
Total cash equivalents | 694,416 | 150,654 | — | 845,070 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 329,783 | — | 329,783 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 423,051 | 83,234 | — | 506,285 | ||||||||||||
Corporate and other debt securities | — | 301,841 | — | 301,841 | ||||||||||||
Certificates of deposit and commercial paper | — | 99,959 | — | 99,959 | ||||||||||||
Asset-backed securities | — | 160,267 | — | 160,267 | ||||||||||||
Municipal debt securities | — | 115,196 | — | 115,196 | ||||||||||||
Mutual funds | — | 21,136 | — | 21,136 | ||||||||||||
Total available-for-sale investment securities | 423,051 | 781,633 | — | 1,204,684 | ||||||||||||
Total short-term investments | 423,051 | 1,111,416 | — | 1,534,467 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 11,105 | — | 11,105 | ||||||||||||
Accrued expenses and other current liabilities | — | (191,584 | ) | — | (191,584 | ) | ||||||||||
Other noncurrent liabilities | — | (164,490 | ) | — | (164,490 | ) | ||||||||||
Total | $ | 1,117,467 | $ | 917,101 | $ | — | $ | 2,034,568 | ||||||||
We measure the fair value of money market funds and U.S. Treasury securities based on quoted prices in active markets for identical assets and therefore classify these assets as Level 1. The fair value of commercial paper, certificates of deposit, U.S. government agency securities, municipal debt securities, U.S. and international corporate bonds and foreign government debt securities is measured based on relevant trade data, dealer quotes, or model driven valuations using significant inputs derived from or corroborated by observable market data, such as yield curves and credit spreads. We measure the fair value of our asset-backed securities using model driven valuations based on significant inputs derived from or corroborated by observable market data such as dealer quotes, available trade information, spread data, current market assumptions on prepayment speeds and defaults and historical data on deal collateral performance. The value of the mutual funds invested in fixed income securities is based on the net asset value, or NAV, of the fund, with appropriate consideration of the liquidity and any restrictions on disposition of our investment in the fund. | ||||||||||||||||
We estimate the fair value of each foreign exchange forward contract by using a present value of expected cash flows model. This model calculates the difference between the current market forward price and the contracted forward price for each foreign exchange contract and applies the difference in the rates to each outstanding contract. The market forward rates include a discount and credit risk factor. The amounts are aggregated by type of contract and maturity. | ||||||||||||||||
During the years ended December 31, 2014, 2013 and 2012, there were no transfers among Level 1, Level 2, or Level 3 financial assets and liabilities. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments | ||||||||||||||||||
In the normal course of business, we use foreign exchange forward contracts to manage foreign currency exchange rate risk. The estimated fair value of the foreign exchange forward contracts considers the following items: discount rate, timing and amount of cash flow and counterparty credit risk. Derivatives may give rise to credit risks from the possible non-performance by counterparties. Credit risk is generally limited to the fair value of those contracts that are favorable to us. We have limited our credit risk by entering into derivative transactions only with highly-rated global financial institutions, limiting the amount of credit exposure with any one financial institution and conducting ongoing evaluation of the creditworthiness of the financial institutions with which we do business. In addition, all the assets and liabilities related to our foreign exchange forward contracts set forth in the below table are subject to International Swaps and Derivatives Association, or ISDA, master netting arrangements or other similar agreements with each individual counterparty. These master netting arrangements generally provide for net settlement of all outstanding contracts with the counterparty in the case of an event of default or a termination event. We have presented all the assets and liabilities related to our foreign exchange forward contracts on a gross basis, with no offsets, in our accompanying consolidated statements of financial position. There is no financial collateral (including cash collateral) posted or received by us related to our foreign exchange forward contracts. | |||||||||||||||||||
The following table provides information on the location and fair values of derivative financial instruments included in our consolidated statement of financial position as of: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Designation of Derivatives | Location on Statement of | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Financial Position | |||||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | $ | 710 | $ | — | $ | — | $ | — | ||||||||||
Other noncurrent assets | 3,879 | — | — | — | |||||||||||||||
Accrued expenses and other current liabilities | — | 97,240 | — | 190,386 | |||||||||||||||
Other noncurrent liabilities | — | 9,962 | — | 164,490 | |||||||||||||||
Total | 4,589 | 107,202 | — | 354,876 | |||||||||||||||
Other Derivatives – Not designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | 2,021 | — | 11,105 | — | ||||||||||||||
Accrued expenses and other current liabilities | — | 62 | — | 1,198 | |||||||||||||||
Total | 2,021 | 62 | 11,105 | 1,198 | |||||||||||||||
Total | $ | 6,610 | $ | 107,264 | $ | 11,105 | $ | 356,074 | |||||||||||
Cash Flow Hedges | |||||||||||||||||||
We have entered into a series of foreign exchange forward contracts that are designated as cash flow hedges of Indian rupee denominated payments in India. These contracts are intended to partially offset the impact of movement of exchange rates on future operating costs and are scheduled to mature each month during 2015, 2016 and 2017. Under these contracts, we purchase Indian rupees and sell U.S. dollars. The changes in fair value of these contracts are initially reported in the caption “accumulated other comprehensive income (loss)” in our consolidated statements of financial position and are subsequently reclassified to earnings in the same period the hedge contract matures. As of December 31, 2014, we estimate that $81,601, net of tax, of the net losses related to derivatives designated as cash flow hedges recorded in accumulated other comprehensive income (loss) is expected to be reclassified into earnings within the next 12 months. | |||||||||||||||||||
The notional value of our outstanding contracts by year of maturity and the net unrealized (loss) included in accumulated other comprehensive income (loss) for such contracts were as follows as of: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
2014 | $ | — | $ | 1,200,000 | |||||||||||||||
2015 | 1,320,000 | 900,000 | |||||||||||||||||
2016 | 720,000 | 240,000 | |||||||||||||||||
2017 | 420,000 | — | |||||||||||||||||
Total notional value of contracts outstanding | $ | 2,460,000 | $ | 2,340,000 | |||||||||||||||
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | $ | (86,742 | ) | $ | (299,993 | ) | |||||||||||||
Upon settlement or maturity of the cash flow hedge contracts, we record the related gain or loss, based on our designation at the commencement of the contract, with the hedged Indian rupee denominated expense reported within cost of revenues and selling, general and administrative expenses. Hedge ineffectiveness was immaterial for all periods presented. | |||||||||||||||||||
The following table provides information on the location and amounts of pre-tax (losses) on our cash flow hedges for the year ended December 31: | |||||||||||||||||||
Decrease (Increase) in | Location of Net Derivative | Net (Losses) Reclassified | |||||||||||||||||
Derivative | (Losses) Reclassified | from Accumulated Other | |||||||||||||||||
Losses Recognized | from Accumulated Other | Comprehensive Income (Loss) | |||||||||||||||||
in Accumulated Other | Comprehensive Income (Loss) | into Income | |||||||||||||||||
Comprehensive Income (Loss) | into Income | (effective portion) | |||||||||||||||||
(effective portion) | (effective portion) | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | $ | 115,651 | $ | (221,275 | ) | Cost of revenues | $ | (113,367 | ) | $ | (135,044 | ) | |||||||
Selling, general and administrative expenses | (23,245 | ) | (27,950 | ) | |||||||||||||||
Total | $ | (136,612 | ) | $ | (162,994 | ) | |||||||||||||
The activity related to the change in net unrealized (losses) on our cash flow hedges included in accumulated other comprehensive income (loss) is presented in Note 8. | |||||||||||||||||||
Other Derivatives | |||||||||||||||||||
We use foreign exchange forward contracts, which have not been designated as hedges, to hedge balance sheet exposure to certain monetary assets and liabilities denominated in currencies other than the functional currency of our foreign subsidiaries. Contracts outstanding as of December 31, 2014 are schedule to mature in 2015. Realized gains or losses and changes in the estimated fair value of these derivative financial instruments are reported in the caption "Foreign currency exchange gains (losses), net" in our consolidated statements of operations. | |||||||||||||||||||
Additional information related to our outstanding contracts is as follows as of: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Notional | Market Value | Notional | Market Value | ||||||||||||||||
Contracts to purchase U.S. dollars and sell: | |||||||||||||||||||
Indian rupees | $ | 160,008 | $ | 1,773 | $ | 171,802 | $ | 11,105 | |||||||||||
Euros | 24,450 | 198 | 55,500 | (412 | ) | ||||||||||||||
British pounds | 17,900 | 51 | 52,000 | (786 | ) | ||||||||||||||
Australian dollars | 9,600 | (58 | ) | — | — | ||||||||||||||
Canadian dollars | 3,650 | (5 | ) | — | — | ||||||||||||||
Total | $ | 215,608 | $ | 1,959 | $ | 279,302 | $ | 9,907 | |||||||||||
The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on our other derivative financial instruments for the years ended December 31, 2014 and 2013: | |||||||||||||||||||
Location of Net (Losses) Gains | Amount of Net (Losses) Gains | ||||||||||||||||||
on Derivative Instruments | on Derivative Instruments | ||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
Other Derivatives – Not designated as hedging instruments | Foreign currency exchange gains (losses), net | ||||||||||||||||||
Foreign exchange forward contracts | $ | (3,895 | ) | $ | 14,084 | ||||||||||||||
The related cash flow impacts of all of our derivative activities are reflected as cash flows from operating activities. |
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ||||||||||||||
Stock-Based Compensation Plans | Stock-Based Compensation Plans | |||||||||||||
On June 5, 2009, our stockholders approved the adoption of the Cognizant Technology Solutions Corporation 2009 Incentive Compensation Plan. On June 30, 2014, our stockholders approved the first amendment to such plan. On September 18, 2014 the Compensation Committee of the Board of Directors approved the second amendment to such plan (as amended, the “2009 Incentive Plan”). Under the 2009 Incentive Plan, 48,000,000 shares of our Class A common stock were reserved for issuance. The 2009 Incentive Plan is the successor plan to our Amended and Restated 1999 Incentive Compensation Plan which terminated on April 13, 2009 in accordance with its terms, our Amended and Restated Non-Employee Directors’ Stock Option Plan and our Amended and Restated Key Employees’ Stock Option Plan which terminated in July 2009 (collectively, the “Predecessor Plans”). The 2009 Incentive Plan will not affect any options or stock issuances outstanding under the Predecessor Plans. No further awards will be made under the Predecessor Plans. As of December 31, 2014, we have 15,651,686 shares available for grant under the 2009 Incentive Plan. | ||||||||||||||
Stock options granted to employees under our plans have a life ranging from seven to ten years, vest proportionally over four years, unless specified otherwise, and have an exercise price equal to the fair market value of the common stock on the date of grant. Grants to non-employee directors vest proportionally over two years. Stock-based compensation expense relating to stock options is recognized on a straight-line basis over the requisite service period. | ||||||||||||||
Restricted stock units vest proportionately in quarterly or annual installments over three to four years. Stock-based compensation expense relating to restricted stock units is recognized on a straight-line basis over the requisite service period. | ||||||||||||||
We granted performance stock units that vest over periods ranging from one to three years to employees, including our executive officers. The vesting of performance stock units is contingent on both meeting revenue performance targets and continued service. Stock-based compensation costs for performance stock units that vest proportionally are recognized on a graded-vesting basis over the vesting period based on the most probable outcome of the performance conditions. If the minimum performance targets are not met, no compensation cost is recognized and any recognized compensation cost is reversed. | ||||||||||||||
The Company’s 2004 Employee Stock Purchase Plan (the “Purchase Plan”), as amended in 2013, provides for the issuance of up to 28,000,000 shares of Class A common stock to eligible employees. The Purchase Plan provides for eligible employees to purchase whole shares of Class A common stock at a price of 90% of the lesser of: (a) the fair market value of a share of Class A common stock on the first date of the purchase period or (b) the fair market value of a share of Class A common stock on the last date of the purchase period. Stock-based compensation expense for the Purchase Plan is recognized over the vesting period of three months on a straight-line basis. As of December 31, 2014, we had 10,279,356 shares available for future grants and issuances under the Purchase Plan. | ||||||||||||||
The allocation of total stock-based compensation expense between cost of revenues and selling, general and administrative expenses as well as the related income tax benefit were as follows for the three years ended December 31: | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Cost of revenues | $ | 26,762 | $ | 19,107 | $ | 16,773 | ||||||||
Selling, general and administrative expenses | 108,063 | 99,693 | 90,582 | |||||||||||
Total stock-based compensation expense | $ | 134,825 | $ | 118,800 | $ | 107,355 | ||||||||
Income tax benefit | $ | 31,374 | $ | 29,387 | $ | 26,206 | ||||||||
We estimate the fair value of each stock option granted using the Black-Scholes option-pricing model. For the years ended December 31, 2014, 2013 and 2012, expected volatility was calculated using implied market volatilities. In addition, the expected term, which represents the period of time, measured from the grant date, that vested options are expected to be outstanding, was derived by incorporating exercise and post-vest termination assumptions, based on historical data, in a Monte Carlo simulation model. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. We have not paid any dividends. Forfeiture assumptions used in amortizing stock-based compensation expense are based on an analysis of historical data. | ||||||||||||||
The fair values of option grants, including the Purchase Plan, were estimated at the date of grant during the years ended December 31, 2014, 2013, and 2012 based upon the following assumptions and were as follows: | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Weighted average volatility factor: | ||||||||||||||
Stock options | 28.74 | % | 33.47 | % | 36.71 | % | ||||||||
Purchase Plan | 24.86 | % | 29.17 | % | 32.31 | % | ||||||||
Weighted average expected life (in years): | ||||||||||||||
Stock options | 3.92 | 3.82 | 3.69 | |||||||||||
Purchase Plan | 0.25 | 0.25 | 0.25 | |||||||||||
Weighted average risk-free interest rate: | ||||||||||||||
Stock options | 1.25 | % | 0.73 | % | 0.43 | % | ||||||||
Purchase Plan | 0.02 | % | 0.05 | % | 0.06 | % | ||||||||
Weighted average grant date fair value: | ||||||||||||||
Stock options | $ | 11.81 | $ | 8.65 | $ | 8.39 | ||||||||
Purchase Plan | $ | 7.29 | $ | 5.87 | $ | 5.56 | ||||||||
During the year ended December 31, 2014, we issued 1,882,384 shares of Class A common stock under the Purchase Plan with a total vested fair value of approximately $13,725. | ||||||||||||||
A summary of the activity for stock options granted under our stock-based compensation plans as of December 31, 2014 and changes during the year then ended is presented below: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Options | Average Exercise | Average | Interinsic | |||||||||||
Price | Remaining Life | Value | ||||||||||||
(in dollars) | (in years) | (in thousands) | ||||||||||||
Outstanding at January 1, 2014 | 6,871,722 | $ | 16.43 | |||||||||||
Granted | 67,736 | 48.5 | ||||||||||||
Exercised | (1,547,558 | ) | 12.74 | |||||||||||
Cancelled | (26,560 | ) | 28.87 | |||||||||||
Expired | (3,703 | ) | 18.04 | |||||||||||
Outstanding at December 31, 2014 | 5,361,637 | $ | 17.84 | 2.46 | $ | 186,715 | ||||||||
Vested and expected to vest at December 31, 2014 | 5,350,026 | $ | 17.78 | 2.45 | $ | 186,607 | ||||||||
Exercisable at December 31, 2014 | 5,247,661 | $ | 17.31 | 2.39 | $ | 185,497 | ||||||||
As of December 31, 2014, $660 of total remaining unrecognized stock-based compensation cost related to stock options is expected to be recognized over the weighted-average remaining requisite service period of one year. The total intrinsic value of options exercised was $58,310, $137,446, and $256,623 for the years ended December 31, 2014, 2013, and 2012, respectively. | ||||||||||||||
The fair value of performance stock units and restricted stock units is determined based on the number of stock units granted and the quoted price of our stock at date of grant. | ||||||||||||||
A summary of the activity for performance stock units granted under our stock-based compensation plans as of December 31, 2014 and changes during the year then ended is presented below. The presentation reflects the number of performance stock units at the maximum performance milestones. | ||||||||||||||
Number of | Weighted Average | |||||||||||||
Units | Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2014 | 3,747,622 | $ | 39.23 | |||||||||||
Granted | 1,942,576 | 53.89 | ||||||||||||
Vested | (1,088,423 | ) | 33.09 | |||||||||||
Forfeited | (229,132 | ) | 39.42 | |||||||||||
Reduction due to the achievement of lower than maximum performance milestones | (728,090 | ) | 46.46 | |||||||||||
Unvested at December 31, 2014 | 3,644,553 | $ | 47.42 | |||||||||||
As of December 31, 2014, $82,709 of total remaining unrecognized stock-based compensation cost related to performance stock units is expected to be recognized over the weighted-average remaining requisite service period of 2.03 years. | ||||||||||||||
A summary of the activity for restricted stock units granted under our stock-based compensation plans as of December 31, 2014 and changes during the year then ended is presented below: | ||||||||||||||
Number of | Weighted Average | |||||||||||||
Units | Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2014 | 3,596,808 | $ | 38.9 | |||||||||||
Granted | 4,205,567 | 51.85 | ||||||||||||
Vested | (2,110,271 | ) | 39.26 | |||||||||||
Forfeited | (305,002 | ) | 41.43 | |||||||||||
Unvested at December 31, 2014 | 5,387,102 | $ | 48.73 | |||||||||||
As of December 31, 2014, $227,000 of total remaining unrecognized stock-based compensation cost related to restricted stock units is expected to be recognized over the weighted-average remaining requisite service period of 2.41 years. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Commitments and Contingencies | Commitments and Contingencies | |||
We lease office space and equipment under operating leases, which expire at various dates through the year 2024. Certain leases contain renewal provisions and generally require us to pay utilities, insurance, taxes, and other operating expenses. Future minimum rental payments on our operating leases as of December 31, 2014 are as follows: | ||||
Operating lease obligation | ||||
2015 | $ | 148,320 | ||
2016 | 125,277 | |||
2017 | 105,149 | |||
2018 | 81,682 | |||
2019 | 71,695 | |||
Thereafter | 214,534 | |||
Total minimum lease payments | $ | 746,657 | ||
Rental expense totaled $190,918, $166,206, and $147,576 for the years ended December 31, 2014, 2013, and 2012, respectively. | ||||
Future minimum rental payments on our capital leases as of December 31, 2014 are as follows: | ||||
Capital lease obligation | ||||
2015 | $ | 4,705 | ||
2016 | 4,732 | |||
2017 | 4,243 | |||
2018 | 3,908 | |||
2019 | 3,821 | |||
Thereafter | 35,364 | |||
Total minimum lease payments | 56,773 | |||
Interest | (15,621 | ) | ||
Present value of minimum lease payments | $ | 41,152 | ||
As of December 31, 2014, we had outstanding fixed capital commitments of approximately $20,452 related to our India real estate development program to build new Company-owned state-of-the-art IT development and delivery centers. | ||||
We are involved in various claims and legal actions arising in the ordinary course of business. We accrue a liability when a loss is considered probable and the amount can be reasonably estimated. In the opinion of management, the outcome of any existing claims and legal or regulatory proceedings, if decided adversely, is not expected to have a material adverse effect on our business, financial condition, results of operations and cash flows. Additionally, many of our engagements involve projects that are critical to the operations of our customers’ business and provide benefits that are difficult to quantify. Any failure in a customer’s systems or our failure to meet our contractual obligations to our clients, including any breach involving a customer’s confidential information or sensitive data, or our obligations under applicable laws or regulations could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Although we attempt to contractually limit our liability for damages arising from negligent acts, errors, mistakes, or omissions in rendering our services, there can be no assurance that the limitations of liability set forth in our contracts will be enforceable in all instances or will otherwise protect us from liability for damages. Although we have general liability insurance coverage, including coverage for errors or omissions, there can be no assurance that such coverage will cover all types of claims, continue to be available on reasonable terms or will be available in sufficient amounts to cover one or more large claims, or that the insurer will not disclaim coverage as to any future claim. The successful assertion of one or more large claims against us that exceed or are not covered by our insurance coverage or changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could have a material adverse effect on our business, results of operations, financial condition and cash flows. | ||||
In the normal course of business and in conjunction with certain client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients or other parties with whom we conduct business with respect to certain matters. These arrangements can include provisions whereby we agree to hold the indemnified party and certain of their affiliated entities harmless with respect to third-party claims related to such matters as our breach of certain representations or covenants, or out of our intellectual property infringement, our gross negligence or willful misconduct or certain other claims made against certain parties. Payments by us under any of these arrangements are generally conditioned on the client making a claim and providing us with full control over the defense and settlement of such claim. It is not possible to determine the maximum potential amount under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Historically, we have not made payments under these indemnification agreements and therefore they have not had any impact on our operating results, financial position, or cash flows. However, if events arise requiring us to make payment for indemnification claims under our indemnification obligations in contracts we have entered, such payments could have material impact on our business, results of operations, financial condition and cash flows. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | ||||||||||||
Segment Information | Segment Information | |||||||||||
Our reportable segments are: | ||||||||||||
• | Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; | |||||||||||
• | Healthcare, which includes healthcare providers and payers as well as life sciences customers. Our Healthcare business segment includes the post-acquisition operating results of TriZetto; | |||||||||||
• | Manufacturing/Retail/Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services; and | |||||||||||
• | Other, which is an aggregation of industries each of which, individually, represents less than 10% of consolidated revenues and segment operating profit. The Other reportable segment includes our information, media and entertainment services, communications and high technology operating segments. | |||||||||||
Our sales managers, account executives, account managers and project teams are aligned in accordance with the specific industries they serve. | ||||||||||||
Our chief operating decision maker evaluates the Company’s performance and allocates resources based on segment revenues and operating profit. Segment operating profit is defined as income from operations before unallocated costs. Generally, operating expenses for each operating segment have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on industries served by our operating segments may affect revenue and operating expenses to differing degrees. Expenses included in segment operating profit consist principally of direct selling and delivery costs as well as a per seat charge for use of the development and delivery centers. Certain selling, general and administrative expenses, excess or shortfall of incentive compensation for delivery personnel as compared to target, stock-based compensation expense, a portion of depreciation and amortization and the impact of the settlements of our cash flow hedges are not allocated to individual segments in internal management reports used by the chief operating decision maker. Accordingly, such expenses are excluded from segment operating profit and are separately disclosed as “unallocated” and adjusted only against our total income from operations. Ad, management has determined that it is not practical to allocate identifiable assets by segment, since such assets are used interchangeably among the segments. | ||||||||||||
Revenues from external customers and segment operating profit, before unallocated expenses, for the Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other reportable segments were as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues: | ||||||||||||
Financial Services | $ | 4,285,614 | $ | 3,717,573 | $ | 3,035,447 | ||||||
Healthcare | 2,689,427 | 2,264,826 | 1,934,898 | |||||||||
Manufacturing/Retail/Logistics | 2,093,560 | 1,868,305 | 1,498,668 | |||||||||
Other | 1,194,080 | 992,485 | 877,459 | |||||||||
Total revenue | $ | 10,262,681 | $ | 8,843,189 | $ | 7,346,472 | ||||||
Segment Operating Profit: | ||||||||||||
Financial Services | $ | 1,320,116 | $ | 1,212,099 | $ | 998,339 | ||||||
Healthcare | 850,955 | 829,916 | 724,454 | |||||||||
Manufacturing/Retail/Logistics | 685,745 | 630,250 | 527,970 | |||||||||
Other | 391,901 | 318,357 | 288,052 | |||||||||
Total segment operating profit | 3,248,717 | 2,990,622 | 2,538,815 | |||||||||
Less: unallocated costs | 1,363,839 | 1,312,712 | 1,177,319 | |||||||||
Income from operations | $ | 1,884,878 | $ | 1,677,910 | $ | 1,361,496 | ||||||
Geographic Area Information | ||||||||||||
Revenue and long-lived assets, by geographic area, were as follows: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues: (1) | ||||||||||||
North America(2) | $ | 7,879,785 | $ | 6,860,067 | $ | 5,836,258 | ||||||
Europe(3) | 1,883,590 | 1,579,205 | 1,195,490 | |||||||||
Rest of World(4) | 499,306 | 403,917 | 314,724 | |||||||||
Total | $ | 10,262,681 | $ | 8,843,189 | $ | 7,346,472 | ||||||
2014 | 2013 | 2011 | ||||||||||
Long-lived Assets: (5) | ||||||||||||
North America(2) | $ | 188,277 | $ | 48,352 | $ | 52,149 | ||||||
Europe | 29,816 | 22,707 | 8,696 | |||||||||
Rest of World(4)(6) | 1,029,112 | 1,010,105 | 910,641 | |||||||||
Total | $ | 1,247,205 | $ | 1,081,164 | $ | 971,486 | ||||||
_____________ | ||||||||||||
-1 | Revenues are attributed to regions based upon customer location. | |||||||||||
-2 | Substantially all relates to operations in the United States. | |||||||||||
-3 | Includes revenue from operations in the United Kingdom of $1,099,178, $942,579 and $764,936 for the years ended 2014, 2013, and 2012, respectively. | |||||||||||
-4 | Includes our operations in Asia Pacific, the Middle East and Latin America. | |||||||||||
-5 | Long-lived assets include property and equipment, net of accumulated depreciation and amortization. | |||||||||||
-6 | Substantially all of these long-lived assets relate to our operations in India. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | |||||||||||||||||||||
Quarterly Financial Data | Quarterly Financial Data (Unaudited) | ||||||||||||||||||||
Summarized quarterly results for the two years ended December 31, 2014 are as follows: | |||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
2014 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||
Revenues | $ | 2,422,348 | $ | 2,517,094 | $ | 2,581,009 | $ | 2,742,230 | $ | 10,262,681 | |||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,432,444 | 1,499,462 | 1,569,828 | 1,639,384 | 6,141,118 | ||||||||||||||||
Selling, general and administrative expenses | 485,395 | 482,985 | 506,019 | 562,622 | 2,037,021 | ||||||||||||||||
Depreciation and amortization expense | 44,473 | 46,726 | 47,649 | 60,816 | 199,664 | ||||||||||||||||
Income from operations | 460,036 | 487,921 | 457,513 | 479,408 | 1,884,878 | ||||||||||||||||
Net income | 348,878 | 371,908 | 355,624 | 362,857 | 1,439,267 | ||||||||||||||||
Basic EPS(1) | $ | 0.57 | $ | 0.61 | $ | 0.58 | $ | 0.6 | $ | 2.37 | |||||||||||
Diluted EPS(1) | $ | 0.57 | $ | 0.61 | $ | 0.58 | $ | 0.59 | $ | 2.35 | |||||||||||
Three Months Ended | |||||||||||||||||||||
2013 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||
Revenues | $ | 2,020,738 | $ | 2,161,240 | $ | 2,305,723 | $ | 2,355,488 | $ | 8,843,189 | |||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,199,965 | 1,272,013 | 1,382,336 | 1,411,155 | 5,265,469 | ||||||||||||||||
Selling, general and administrative expenses | 413,204 | 420,526 | 443,376 | 450,503 | 1,727,609 | ||||||||||||||||
Depreciation and amortization expense | 41,662 | 41,898 | 42,652 | 45,989 | 172,201 | ||||||||||||||||
Income from operations | 365,907 | 426,803 | 437,359 | 447,841 | 1,677,910 | ||||||||||||||||
Net income | 284,209 | 300,410 | 319,627 | 324,332 | 1,228,578 | ||||||||||||||||
Basic EPS(1) | $ | 0.47 | $ | 0.5 | $ | 0.53 | $ | 0.54 | $ | 2.03 | |||||||||||
Diluted EPS(1) | $ | 0.47 | $ | 0.49 | $ | 0.53 | $ | 0.53 | $ | 2.02 | |||||||||||
(1) The sum of the quarterly basic and diluted EPS for each of the four quarters may not equal the EPS for the year due to rounding. |
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||
Valuation And Qualifying Accounts | |||||||||||||||||||||
Description | Balance at | Charged to | Charged to | Deductions | Balance at | ||||||||||||||||
Beginning of | Costs and | Other | /Other | End of | |||||||||||||||||
Period | Expenses | Accounts(1) | Period | ||||||||||||||||||
Trade accounts receivable allowance for doubtful accounts: | |||||||||||||||||||||
2014 | $ | 26,824 | $ | 4,675 | $ | 6,170 | $ | 744 | $ | 36,925 | |||||||||||
2013 | $ | 25,816 | $ | 3,571 | $ | — | $ | 2,563 | $ | 26,824 | |||||||||||
2012 | $ | 24,658 | $ | 5,051 | $ | — | $ | 3,893 | $ | 25,816 | |||||||||||
Warranty accrual: | |||||||||||||||||||||
2014 | $ | 17,699 | $ | 24,943 | $ | — | $ | 21,394 | $ | 21,248 | |||||||||||
2013 | $ | 14,840 | $ | 20,327 | $ | — | $ | 17,468 | $ | 17,699 | |||||||||||
2012 | $ | 12,291 | $ | 17,063 | $ | — | $ | 14,514 | $ | 14,840 | |||||||||||
Valuation allowance—deferred income tax assets: | |||||||||||||||||||||
2014 | $ | 5,659 | $ | 229 | $ | 5,565 | $ | 33 | $ | 11,420 | |||||||||||
2013 | $ | 6,288 | $ | 3,974 | $ | — | $ | 4,603 | $ | 5,659 | |||||||||||
2012 | $ | 10,365 | $ | 1,399 | $ | — | $ | 5,476 | $ | 6,288 | |||||||||||
(1) Amounts relate to material acquisitions. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation. The consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States of America, or U.S. GAAP, and reflect the consolidated financial position, results of operations, comprehensive income and cash flows of our consolidated subsidiaries for all periods presented. All intercompany balances and transactions have been eliminated in consolidation. |
Cash And Cash Equivalents And Investments | Cash and Cash Equivalents and Investments. Cash and cash equivalents consist of all cash balances, including money market funds and liquid instruments. Liquid instruments are classified as cash equivalents when their maturities at the date of purchase are three months or less and as short-term investments when their maturities at the date of purchase are greater than three months. |
We determine the appropriate classification of our investments in marketable securities at the date of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable securities as available-for-sale. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these securities prior to their stated maturities. As we view these marketable securities as available to support current operations, we classify such securities with maturities at the date of purchase beyond twelve months as short-term investments because such investments represent an investment in cash that is available for current operations. | |
Available-for-sale securities are reported at fair value with changes in unrealized gains and losses recorded as a separate component of accumulated other comprehensive income (loss) until realized. We determine the cost of the securities sold based on the specific identification method. Time deposits with financial institutions are valued at cost, which approximates fair value. | |
Interest and amortization of premiums and discounts for debt securities are included in interest income. We also evaluate our available-for-sale investments periodically for possible other-than-temporary impairment by reviewing factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, whether we intend to sell the security and whether it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis. Once a decline in fair value is determined to be other-than-temporary, an impairment charge is generally recorded to income and a new cost basis in the investment is established. | |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is determined by evaluating the relative credit-worthiness of each customer, historical collections experience and other information, including the aging of the receivables. We evaluate the collectibility of our accounts receivable on an on-going basis and write-off accounts when they are deemed to be uncollectible. |
Unbilled Accounts Receivable | Unbilled Accounts Receivable. Unbilled accounts receivable represent revenues on contracts to be billed, in subsequent periods, as per the terms of the related contracts. |
Short-Term Financial Assets And Liabilities | Short-term Financial Assets and Liabilities. Cash and cash equivalents, trade receivables, accounts payable and other accrued liabilities are short-term in nature and, accordingly, their carrying values approximate fair value. |
Property And Equipment | Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the term of the lease or the estimated useful life of the improvement. In India, leasehold land is leased by us from the government of India with lease terms ranging up to 99 years. Lease payments are made at the inception of the lease agreement and amortized over the lease term. Maintenance and repairs are expensed as incurred, while renewals and betterments are capitalized. Deposits paid towards acquisition of long-lived assets and the cost of assets not put in use before the balance sheet date are disclosed under the caption “capital work-in-progress” in Note 4. |
Internal Use Software | Internal Use Software. We capitalize certain costs that are incurred to purchase, develop and implement internal-use software during the application development phase, which primarily includes coding and testing and certain data conversion activities. Capitalized costs are amortized on a straight-line basis over the useful life of the software. Costs incurred performing activities associated with the preliminary project phases and post-implementation phases are expensed as incurred. |
Business Combinations | Business Combinations. We account for business combinations using the acquisition method, which requires the identification of the acquirer, the determination of the acquisition date, and the allocation of the purchase price paid by the acquirer to the identifiable tangible and intangible assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree at their acquisition date fair values. Goodwill represents the excess of the purchase price over the fair value of net assets acquired, including the amount assigned to identifiable intangible assets. Identifiable intangible assets with finite lives are amortized over their useful lives. Acquisition-related costs are expensed in the periods in which the costs are incurred. The results of operations of acquired businesses are included in our consolidated financial statements from the acquisition date. |
Long-Lived Assets And Intangibles | Long-lived Assets and Finite-lived Intangibles. We review long-lived assets and certain finite-lived identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We recognize an impairment loss when the sum of undiscounted expected future cash flows is less than the carrying amount of such assets. The impairment loss would equal the amount by which the carrying amount of the asset exceeds the fair value of the asset. Other intangibles consist primarily of customer relationships and developed technology, which are being amortized on a straight-line basis over their estimated useful lives. |
Goodwill and Indefinite-lived intangibles | Goodwill and Indefinite-lived Intangibles. We evaluate goodwill and indefinite-lived intangible assets, at the reporting unit level, for impairment at least annually, or as circumstances warrant. If an impairment is indicated, a write down to fair value (normally measured by discounting estimated future cash flows) is recorded. |
Stock Repurchase Program | Stock Repurchase Program. Our existing stock repurchase program, as amended and approved by our Board of Directors, allows for the repurchase of $2,000,000 of our outstanding shares of Class A common stock and expires on December 31, 2015. Through December 31, 2014, we completed stock repurchases of 35,242,550 shares for $1,186,369, inclusive of fees and expenses, under this program. Additional stock repurchases were made in connection with our stock-based compensation plans, whereby Company shares were tendered by employees for payment of applicable statutory tax withholdings. During 2014, 2013, and 2012 such repurchases totaled 1,207,595, 1,165,872 and 1,065,184 shares, respectively, at an aggregate cost of $60,075, $47,442 and $34,925, respectively. At the time of repurchase, shares are returned to the status of authorized and unissued shares. We account for the repurchases as constructively retired and record such repurchases as a reduction of Class A common stock and additional paid-in capital. |
Revenue Recognition | Revenue Recognition. Revenues related to time-and-material contracts are recognized as the service is performed and amounts are earned. Revenues from transaction-priced contracts are recognized as transactions are processed and amounts are earned. Revenues related to fixed-price contracts for highly complex application development and systems integration services are recognized as the service is performed using the percentage of completion method of accounting, under which the total value of revenue is recognized on the basis of the percentage that each contract’s total labor cost to date bears to the total expected labor costs (cost to cost method). Revenues related to fixed price outsourcing services are recognized on a straight-line basis unless revenues are earned and obligations are fulfilled in a different pattern. Revenues related to fixed-price contracts for consulting or other IT services are recognized as services are performed on a proportional performance basis based upon the level of effort. |
For all services, revenue is earned and recognized only when all of the following criteria are met: evidence of an arrangement is obtained, the price is fixed or determinable, the services have been rendered and collectibility is reasonably assured. Contingent or incentive revenues are recognized when the contingency is satisfied and we conclude the amounts are earned. Volume discounts are recorded as a reduction of revenue over the contract period as services are provided. Revenues also include the reimbursement of out-of-pocket expenses. | |
Costs to deliver services are expensed to cost of revenues as incurred with the exception of specific costs directly related to transition or set-up activities for outsourcing contracts. Transition costs are deferred and expensed ratably over the period of service. Generally, deferred amounts are protected in the event of early termination of the contract and are monitored regularly for impairment. Impairment losses are recorded when projected remaining undiscounted operating cash flows of the related contract are not sufficient to recover the carrying amount of the contract assets. Deferred transition costs were approximately $98,172 and $80,254 as of December 31, 2014 and 2013, respectively, and are included in other noncurrent assets in our consolidated statements of financial position. Costs related to warranty provisions are accrued at the time the related revenues are recorded. | |
We may enter into arrangements that consist of multiple elements. Such arrangements may include any combination of our consulting and technology services and outsourcing services. For arrangements with multiple deliverables, we evaluate at the inception of each new arrangement all deliverables to determine whether they represent separate units of accounting. For arrangements with multiple units of accounting, other than arrangements that contain software licenses and software-related services, we allocate consideration among the units of accounting, where separable, based on their relative selling price. Relative selling price is determined based on vendor-specific objective evidence, or VSOE, if it exists. Otherwise, third-party evidence of selling price is used, when it is available, and in circumstances when neither VSOE nor third-party evidence of selling price is available, management’s best estimate of selling price is used. Revenue is recognized for each unit of accounting based on our revenue recognition policy described above. | |
Fixed-price contracts are generally cancelable subject to a specified notice period. All services provided by us through the date of cancellation are due and payable under the contract terms. We issue invoices related to fixed-price contracts based upon achievement of milestones during a project or other contractual terms. Differences between the timing of billing, based on contract milestones or other contractual terms, and the recognition of revenue are recognized as either unbilled receivables or deferred revenue. Estimates of certain fixed-price contracts are subject to adjustment as a project progresses to reflect changes in expected completion costs or efforts. The cumulative impact of any revision in estimates is reflected in the financial reporting period in which the change in estimate becomes known and any anticipated losses on contracts are recognized immediately. | |
We also generate product revenue from licensing our software. For perpetual software license arrangements that do not require significant modification or customization of the underlying software, revenue is recognized when the software is delivered and all other software revenue recognition criteria are met. For software license arrangements that require significant functionality enhancements or modification of the software, revenue for the software license and those services is recognized as those services are performed. For software license arrangements that include a right to use the product for a defined period of time, we recognize revenue ratably over the term of the license. | |
We may enter into arrangements with customers that purchase both software licenses and software-related services from us at the same time, or within close proximity of one another (referred to as software-related multiple-element arrangements). Such software related multiple-element arrangements may include software licenses, software license updates, product support contracts and other software-related services. For those software related multiple-element arrangements, we apply the residual method to determine the amount of software license revenue. Under the residual method, if VSOE of fair value exists for undelivered elements in a multiple-element arrangement, such fair value of the undelivered elements is deferred with the remaining portion of the arrangement consideration generally recognized upon delivery of the software license. For arrangements in which VSOE of fair value does not exist for each software-related undelivered element, revenue for the software license is deferred and not recognized until VSOE of fair value is available for the undelivered element or delivery of each element has occurred. If the only undelivered element is a service, revenue from the delivered element is recognized over the service period. | |
We also enter into multiple-element arrangements that may include a combination of software licenses and various software-related and non-software-related services. In such arrangements, we first allocate the total arrangement consideration, based on relative selling prices, between the software group of elements and the non-software group of elements. We then further allocate consideration within the software group to the respective elements within that group following the software-related multiple-element arrangements policies described above. For the non-software group of elements, we further allocate consideration to the respective elements based on relative selling prices. After the arrangement consideration has been allocated to the individual elements, we account for each respective element in the arrangement as described above. | |
Stock-Based Compensation | Stock-Based Compensation. Stock-based compensation expense for awards of equity instruments to employees and non-employee directors is determined based on the grant-date fair value of those awards. We recognize these compensation costs net of an estimated forfeiture rate over the requisite service period of the award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. |
Foreign Currency | Foreign Currency. The assets and liabilities of our foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars from local currencies at current exchange rates and revenues and expenses are translated from local currencies at average monthly exchange rates. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss) on the accompanying consolidated statements of financial position. |
Foreign currency transactions and balances are those that are denominated in a currency other than the subsidiary’s functional currency. The U.S. dollar is the functional currency for certain foreign subsidiaries who conduct business predominantly in U.S. dollars. For these subsidiaries, transactions and balances denominated in the local currency are foreign currency transactions. Foreign currency transactions and balances related to non-monetary assets and liabilities are remeasured to the functional currency of the subsidiary at historical exchange rates while monetary assets and liabilities are remeasured to the functional currency of the subsidiary at current exchange rates. Foreign currency exchange gains or losses from remeasurement are included in income. Net foreign currency exchange (losses) reported on our consolidated statement of operations are inclusive of gains or losses on our undesignated foreign currency hedges. | |
Derivative Financial Instruments | Derivative Financial Instruments. Derivative financial instruments are accounted for in accordance with the authoritative guidance which requires that each derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Our derivative financial instruments consist of foreign exchange forward contracts. For derivative financial instruments to qualify for hedge accounting, the following criteria must be met: (1) the hedging instrument must be designated as a hedge; (2) the hedged exposure must be specifically identifiable and expose us to risk; and (3) it is expected that a change in fair value of the derivative financial instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. The authoritative guidance also requires that changes in our derivatives’ fair values be recognized in income unless specific hedge accounting and documentation criteria are met (i.e., the instruments are accounted for as hedges). For items to which hedge accounting is applied, we record the effective portion of our derivative financial instruments that are designated as cash flow hedges in accumulated other comprehensive income (loss) in the accompanying consolidated statements of financial position. Any ineffectiveness or excluded portion of a designated cash flow hedge is recognized in income. |
Use Of Estimates | Use of Estimates. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including the recoverability of tangible and intangible assets, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the period. On an on-going basis, management reevaluates these estimates. The most significant estimates relate to the recognition of revenue and profits based on the percentage of completion method of accounting for certain fixed-bid contracts, the allowance for doubtful accounts, income taxes, valuation of goodwill, intangible assets and other long-lived assets, valuation of investments and derivative financial instruments, assumptions used in valuing stock-based compensation arrangements, contingencies and litigation. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements. |
Risks And Uncertainties | Risks and Uncertainties. The majority of our development and delivery centers and employees are located in India. As a result, we may be subject to certain risks associated with international operations, including risks associated with foreign currency exchange rate fluctuations and risks associated with the application and imposition of protective legislation and regulations relating to import and export or otherwise resulting from foreign policy or the variability of foreign economic or political conditions. Additional risks associated with international operations include difficulties in enforcing intellectual property rights, the burdens of complying with a wide variety of foreign laws, potential geo-political and other risks associated with terrorist activities and local or cross border conflicts and potentially adverse tax consequences, tariffs, quotas and other barriers. |
Concentration Of Credit Risk | Concentration of Credit Risk. Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents, time deposits, investments in securities, derivative financial instruments and trade accounts receivable. We maintain our cash and cash equivalents and investments with high credit quality financial institutions, invest in investment-grade debt securities and limit the amount of credit exposure to any one commercial issuer. Trade accounts receivable are dispersed across many customers operating in different industries; therefore, concentration of credit risk is limited. |
Income Taxes | Income Taxes. We provide for income taxes utilizing the asset and liability method of accounting. Under this method, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each balance sheet date, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. If it is determined that it is more likely than not that future tax benefits associated with a deferred income tax asset will not be realized, a valuation allowance is provided. The effect on deferred income tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. Tax benefits earned on exercise of employee stock options in excess of compensation charged to income are credited to additional paid-in capital. Our provision for income taxes also includes the impact of provisions established for uncertain income tax positions, as well as the related interest. |
Earnings Per Share, Or EPS | Earnings Per Share, or EPS. Basic EPS excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes all potential dilutive common stock in the weighted average shares outstanding. For purposes of computing diluted earnings per share for the years ended December 31, 2014, 2013 and 2012, respectively, 4,363,000, 5,647,000, and 9,140,000 shares were assumed to have been outstanding related to common share equivalents. We exclude options with exercise prices that are greater than the average market price for the period from the calculation of diluted EPS because their effect would be anti-dilutive. We excluded 4,300 shares in 2014, 6,800 shares in 2013, and 39,000 in 2012 from our diluted EPS calculation. Also, in accordance with the authoritative guidance, we excluded from the calculation of diluted EPS an additional 78,800 shares in 2014, 97,800 shares in 2013, and 158,600 shares in 2012, related to stock based awards whose combined exercise price, unamortized fair value and excess tax benefits were greater in each of those periods than the average market price of our common stock because their effect would be anti-dilutive. We include performance stock unit awards in the dilutive potential common shares when they become contingently issuable per the authoritative guidance and exclude the awards when they are not contingently issuable. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncement. |
In July 2013, the Financial Accounting Standards Board, or FASB, issued new guidance which requires the netting of any unrecognized tax benefits against all available same-jurisdiction deferred income tax carryforward assets that would apply if the uncertain tax positions were settled. We adopted this standard on January 1, 2014. As of December 31, 2014, we netted an unrecognized tax benefit of $94,784 against same-jurisdiction noncurrent deferred income tax assets. In our December 31, 2013 consolidated statement of financial position, we reclassified $74,196 from "other non-current liabilities" to non-current "deferred income tax assets, net" to conform to current period's presentation. The adoption of this standard had no effect on our consolidated results of operations or stockholder's equity. | |
New Accounting Pronouncement. | |
In May 2014, the FASB issued a standard on revenue from contracts with customers. The new standard sets forth a single comprehensive model for recognizing and reporting revenue. The standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. The new standard will be effective for periods beginning on or after January 1, 2017. Early adoption is not permitted. The standard allows for two methods of adoption: the full retrospective adoption, which requires the standard to be applied to each prior period presented, or the modified retrospective adoption, which requires the cumulative effect of adoption to be recognized as an adjustment to opening retained earnings in the period of adoption. We are currently evaluating the effect the new standard will have on our consolidated financial statements and related disclosures. |
Business_Combinations_Tables
Business Combinations (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||
Supplemental schedule of noncash investing activities | In conjunction with the TriZetto acquisition, liabilities were assumed as follows: | ||||||||||||||||||
Year Ended December 31, 2014 | |||||||||||||||||||
Fair value of assets acquired | $ | 3,070,681 | |||||||||||||||||
Purchase price paid in cash (net of cash acquired) | (2,627,830 | ) | |||||||||||||||||
Liabilities assumed | $ | 442,851 | |||||||||||||||||
TriZetto [Member] | |||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||
Fair value of assets acquired and liabilities assumed | Our preliminary allocation of purchase price as of November 20, 2014 (the closing date of the TriZetto Acquisition) to the fair value of assets acquired and liabilities assumed is as follows: | ||||||||||||||||||
Amount | |||||||||||||||||||
Cash | $ | 170,510 | |||||||||||||||||
Trade accounts receivable | 83,052 | ||||||||||||||||||
Unbilled accounts receivable | 32,463 | ||||||||||||||||||
Other current assets | 11,218 | ||||||||||||||||||
Property and equipment | 124,050 | ||||||||||||||||||
Identifiable intangible assets | 849,000 | ||||||||||||||||||
Other noncurrent assets | 14,782 | ||||||||||||||||||
Accounts payable | (12,395 | ) | |||||||||||||||||
Deferred revenue | (48,281 | ) | |||||||||||||||||
Accrued expenses and other current liabilities | (118,311 | ) | |||||||||||||||||
Other noncurrent liabilities | (54,833 | ) | |||||||||||||||||
Deferred income tax liabilities, net | (209,031 | ) | |||||||||||||||||
Goodwill | 1,956,116 | ||||||||||||||||||
Total purchase price | $ | 2,798,340 | |||||||||||||||||
Schedule of intangible assets acquired as part of business combination | The estimated fair value of the identifiable intangible assets and their weighted-average useful lives are as follows: | ||||||||||||||||||
Fair Value | Weighted Average Useful Life | ||||||||||||||||||
Corporate trademark | $ | 63,000 | Indefinite | ||||||||||||||||
Product trademarks | 21,000 | 16.9 years | |||||||||||||||||
Technology | 328,000 | 7.7 years | |||||||||||||||||
Customer relationships | 437,000 | 15.8 years | |||||||||||||||||
Total | $ | 849,000 | |||||||||||||||||
Schedule of pro forma information | |||||||||||||||||||
Unaudited Pro Forma Information | |||||||||||||||||||
For the Years Ended | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Revenues | $ | 10,893,037 | $ | 9,519,569 | |||||||||||||||
Income from operations | 1,959,491 | 1,253,207 | |||||||||||||||||
Other acquisitions [Member] | |||||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||||
Schedule of intangible assets acquired as part of business combination | We have allocated the purchase price related to these transactions to tangible and intangible assets and liabilities, including goodwill, based on their fair values on their respective dates of acquisition, as follows: | ||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Fair Value | Useful Life | Fair Value | Useful Life | Fair Value | Useful Life | ||||||||||||||
Total initial consideration, net of cash acquired | $ | 46,193 | $ | 184,200 | $ | 28,100 | |||||||||||||
Purchase price allocated to: | |||||||||||||||||||
Non-deductible goodwill | 30,875 | 129,886 | 19,096 | ||||||||||||||||
Customer relationship intangible assets | 12,126 | 3-10 years | 58,572 | 5-10 years | 9,400 | 6-12 years | |||||||||||||
Other intangible assets | 4,320 | 1-4 years | 7,192 | 1-5 years | 600 | 5 years | |||||||||||||
Shortterm_Investments_Tables
Short-term Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments [Abstract] | ||||||||||||||||||||||||
Schedule of short-term investments | Our short-term investments were as follows as of December 31: | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 544,733 | $ | 506,285 | ||||||||||||||||||||
Corporate and other debt securities | 358,563 | 301,841 | ||||||||||||||||||||||
Certificates of deposit and commercial paper | 4,592 | 99,959 | ||||||||||||||||||||||
Asset-backed securities | 220,084 | 160,267 | ||||||||||||||||||||||
Municipal debt securities | 112,783 | 115,196 | ||||||||||||||||||||||
Mutual funds | 21,920 | 21,136 | ||||||||||||||||||||||
Total available-for-sale investment securities | 1,262,675 | 1,204,684 | ||||||||||||||||||||||
Time deposits | 501,902 | 329,783 | ||||||||||||||||||||||
Total short-term investments | $ | 1,764,577 | $ | 1,534,467 | ||||||||||||||||||||
Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities Available-For-Sale | The amortized cost, gross unrealized gains and losses and fair value of available-for-sale investment securities were as follows at December 31: | |||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 544,690 | $ | 369 | $ | (326 | ) | $ | 544,733 | |||||||||||||||
Corporate and other debt securities | 358,990 | 339 | (766 | ) | 358,563 | |||||||||||||||||||
Certificates of deposit and commercial paper | 4,593 | — | (1 | ) | 4,592 | |||||||||||||||||||
Asset-backed securities | 220,358 | 76 | (350 | ) | 220,084 | |||||||||||||||||||
Municipal debt securities | 112,499 | 351 | (67 | ) | 112,783 | |||||||||||||||||||
Mutual funds | 23,940 | 329 | (2,349 | ) | 21,920 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,265,070 | $ | 1,464 | $ | (3,859 | ) | $ | 1,262,675 | |||||||||||||||
2013 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 506,094 | $ | 544 | $ | (353 | ) | $ | 506,285 | |||||||||||||||
Corporate and other debt securities | 300,994 | 1,090 | (243 | ) | 301,841 | |||||||||||||||||||
Certificates of deposit and commercial paper | 99,897 | 62 | — | 99,959 | ||||||||||||||||||||
Asset-backed securities | 160,559 | 99 | (391 | ) | 160,267 | |||||||||||||||||||
Municipal debt securities | 114,888 | 348 | (40 | ) | 115,196 | |||||||||||||||||||
Mutual funds | 22,705 | 280 | (1,849 | ) | 21,136 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,205,137 | $ | 2,423 | $ | (2,876 | ) | $ | 1,204,684 | |||||||||||||||
Available-For-Sale Securities In A Continuous Unrealized Loss Position | The fair value and related unrealized losses of available-for-sale investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of December 31: | |||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 256,893 | $ | (326 | ) | $ | — | $ | — | $ | 256,893 | $ | (326 | ) | ||||||||||
Corporate and other debt securities | 229,669 | (766 | ) | — | — | 229,669 | (766 | ) | ||||||||||||||||
Certificates of deposit and commercial paper | 3,692 | (1 | ) | — | — | 3,692 | (1 | ) | ||||||||||||||||
Asset-backed securities | 151,919 | (302 | ) | 2,799 | (48 | ) | 154,718 | (350 | ) | |||||||||||||||
Municipal debt securities | 28,036 | (67 | ) | — | — | 28,036 | (67 | ) | ||||||||||||||||
Mutual funds | — | — | 20,716 | (2,349 | ) | 20,716 | (2,349 | ) | ||||||||||||||||
Total | $ | 670,209 | $ | (1,462 | ) | $ | 23,515 | $ | (2,397 | ) | $ | 693,724 | $ | (3,859 | ) | |||||||||
2013 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 221,548 | $ | (353 | ) | $ | — | $ | — | $ | 221,548 | $ | (353 | ) | ||||||||||
Corporate and other debt securities | 106,485 | (243 | ) | — | — | 106,485 | (243 | ) | ||||||||||||||||
Asset-backed securities | 84,051 | (333 | ) | 5,048 | (58 | ) | 89,099 | (391 | ) | |||||||||||||||
Municipal debt securities | 10,702 | (34 | ) | 1,019 | (6 | ) | 11,721 | (40 | ) | |||||||||||||||
Mutual funds | — | — | 20,183 | (1,849 | ) | 20,183 | (1,849 | ) | ||||||||||||||||
Total | $ | 422,786 | $ | (963 | ) | $ | 26,250 | $ | (1,913 | ) | $ | 449,036 | $ | (2,876 | ) | |||||||||
Contractual Maturities Of Investments In Debt Securities Available-For-Sale | The contractual maturities of our fixed income available-for-sale investment securities as of December 31, 2014 are set forth in the following table: | |||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due within one year | $ | 65,735 | $ | 65,766 | ||||||||||||||||||||
Due after one year up to two years | 461,035 | 461,315 | ||||||||||||||||||||||
Due after two years up to three years | 478,111 | 477,710 | ||||||||||||||||||||||
Due after three years up to four years | 15,891 | 15,880 | ||||||||||||||||||||||
Asset-backed securities | 220,358 | 220,084 | ||||||||||||||||||||||
Fixed income available-for-sale investment securities | $ | 1,241,130 | $ | 1,240,755 | ||||||||||||||||||||
Gross Gains (Losses) Realized On Sales, Maturities And Other Securities Transactions Related To Investment Securities | Proceeds from sales of available-for-sale investment securities and the gross gains and losses that have been included in earnings as a result of those sales were as follows: | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities | $ | 1,475,623 | $ | 1,119,822 | $ | 697,406 | ||||||||||||||||||
Gross gains | $ | 2,199 | $ | 1,951 | $ | 2,410 | ||||||||||||||||||
Gross losses | (391 | ) | (554 | ) | (402 | ) | ||||||||||||||||||
Net realized gains on sales of available-for-sale investment securities | $ | 1,808 | $ | 1,397 | $ | 2,008 | ||||||||||||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||
Schedule of property and equipment | Property and equipment were as follows as of December 31: | ||||||||||
Estimated Useful Life (Years) | 2014 | 2013 | |||||||||
Buildings | 30 | $ | 605,052 | $ | 444,955 | ||||||
Computer equipment and software | 3 | 537,298 | 426,527 | ||||||||
Furniture and equipment | 5 – 9 | 322,579 | 273,815 | ||||||||
Land | 22,644 | 22,644 | |||||||||
Leasehold land | lease term | 60,111 | 60,306 | ||||||||
Capital work-in-progress | 304,676 | 360,578 | |||||||||
Leasehold improvements | Shorter of the lease term or | 246,969 | 211,675 | ||||||||
the life of the leased asset | |||||||||||
Sub-total | 2,099,329 | 1,800,500 | |||||||||
Accumulated depreciation and amortization | (852,124 | ) | (719,336 | ) | |||||||
Property and equipment, net | $ | 1,247,205 | $ | 1,081,164 | |||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets, net (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Schedule Of Goodwill | Changes in goodwill by our reportable segments were as follows for the years ended December 31, 2014 and 2013: | ||||||||||||||||
Segment | 1-Jan-14 | Goodwill Additions | Foreign Currency Translation Adjustments | 31-Dec-14 | |||||||||||||
Financial Services | $ | 208,588 | $ | 3,963 | $ | (8,133 | ) | $ | 204,418 | ||||||||
Healthcare | 107,409 | 1,976,924 | (4,410 | ) | 2,079,923 | ||||||||||||
Manufacturing/Retail/Logistics | 71,644 | 699 | (3,154 | ) | 69,189 | ||||||||||||
Other | 56,595 | 5,405 | (1,966 | ) | 60,034 | ||||||||||||
Total goodwill | $ | 444,236 | $ | 1,986,991 | $ | (17,663 | ) | $ | 2,413,564 | ||||||||
Segment | 1-Jan-13 | Goodwill Additions | Foreign Currency Translation Adjustments | 31-Dec-13 | |||||||||||||
Financial Services | $ | 137,677 | $ | 68,517 | $ | 2,394 | $ | 208,588 | |||||||||
Healthcare | 78,977 | 27,168 | 1,264 | 107,409 | |||||||||||||
Manufacturing/Retail/Logistics | 48,304 | 22,412 | 928 | 71,644 | |||||||||||||
Other | 44,227 | 11,789 | 579 | 56,595 | |||||||||||||
Total goodwill | $ | 309,185 | $ | 129,886 | $ | 5,165 | $ | 444,236 | |||||||||
Schedule of Finite-Lived Intangible Assets | Components of intangible assets were as follows as of December 31: | ||||||||||||||||
2014 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
Customer relationships | $ | 644,408 | $ | (112,227 | ) | $ | 532,181 | ||||||||||
Developed technology | 332,161 | (8,690 | ) | 323,471 | |||||||||||||
Indefinite life trademarks | 63,000 | — | 63,000 | ||||||||||||||
Other | 45,809 | (10,712 | ) | 35,097 | |||||||||||||
Total intangible assets | $ | 1,085,378 | $ | (131,629 | ) | $ | 953,749 | ||||||||||
2013 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
Customer relationships | $ | 203,543 | $ | (88,159 | ) | $ | 115,384 | ||||||||||
Developed technology | 4,250 | (2,994 | ) | 1,256 | |||||||||||||
Other | 21,438 | (6,804 | ) | 14,634 | |||||||||||||
Total intangible assets | $ | 229,231 | $ | (97,957 | ) | $ | 131,274 | ||||||||||
Schedule of Indefinite-Lived Intangible Assets | Components of intangible assets were as follows as of December 31: | ||||||||||||||||
2014 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
Customer relationships | $ | 644,408 | $ | (112,227 | ) | $ | 532,181 | ||||||||||
Developed technology | 332,161 | (8,690 | ) | 323,471 | |||||||||||||
Indefinite life trademarks | 63,000 | — | 63,000 | ||||||||||||||
Other | 45,809 | (10,712 | ) | 35,097 | |||||||||||||
Total intangible assets | $ | 1,085,378 | $ | (131,629 | ) | $ | 953,749 | ||||||||||
2013 | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
Customer relationships | $ | 203,543 | $ | (88,159 | ) | $ | 115,384 | ||||||||||
Developed technology | 4,250 | (2,994 | ) | 1,256 | |||||||||||||
Other | 21,438 | (6,804 | ) | 14,634 | |||||||||||||
Total intangible assets | $ | 229,231 | $ | (97,957 | ) | $ | 131,274 | ||||||||||
Schedule Of Estimated Amortization Expense | Estimated amortization expense related to our existing intangible assets for the next five years are as follows: | ||||||||||||||||
Year | Amount | ||||||||||||||||
2015 | $ | 97,095 | |||||||||||||||
2016 | 95,467 | ||||||||||||||||
2017 | 92,578 | ||||||||||||||||
2018 | 84,903 | ||||||||||||||||
2019 | 82,691 | ||||||||||||||||
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accrued Expenses And Other Current Liabilities [Abstract] | ||||||||
Accrued Expenses And Other Current Liabilities | Accrued expenses and other current liabilities were as follows as of December 31: | |||||||
2014 | 2013 | |||||||
Compensation and benefits | $ | 906,747 | $ | 894,986 | ||||
Income taxes | 23,846 | 24,312 | ||||||
Professional fees | 82,664 | 45,453 | ||||||
Travel and entertainment | 35,013 | 29,645 | ||||||
Customer volume incentives | 192,114 | 170,669 | ||||||
Derivative financial instruments | 97,302 | 191,584 | ||||||
Other | 184,605 | 121,572 | ||||||
Total accrued expenses and other current liabilities | $ | 1,522,291 | $ | 1,478,221 | ||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Debt Disclosure [Abstract] | |||||
Schedule of short-term debt | The following summarizes our short-term debt balances as of December 31: | ||||
2014 | |||||
Notes drawn under Revolving Facility | $ | 650,000 | |||
Term Loan - current maturities | 50,000 | ||||
Other | 2 | ||||
Total short-term debt | $ | 700,002 | |||
Schedule of long-term debt | The following summarizes our long-term debt balances as of December 31: | ||||
2014 | |||||
Term Loan, due 2019 | $ | 987,500 | |||
Less: current maturities | (50,000 | ) | |||
Long-term debt, net of current maturities | $ | 937,500 | |||
Schedule of debt maturities | The following represents the schedule of maturities of long-term debt during the next five fiscal years: | ||||
Years | Amounts | ||||
2015 | $ | 50,000 | |||
2016 | 56,250 | ||||
2017 | 81,250 | ||||
2018 | 100,000 | ||||
2019 | 700,000 | ||||
$ | 987,500 | ||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | Changes in accumulated other comprehensive income (loss) by component were as follows for the year ended December 31, 2014: | |||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Before Tax | Tax | Net of Tax | ||||||||||||||||||||||
Amount | Effect | Amount | ||||||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | 24,033 | $ | — | $ | 24,033 | ||||||||||||||||||
Change in foreign currency translation adjustments | (58,845 | ) | — | (58,845 | ) | |||||||||||||||||||
Ending balance | $ | (34,812 | ) | $ | — | $ | (34,812 | ) | ||||||||||||||||
Unrealized gains (losses) on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | (453 | ) | $ | 154 | $ | (299 | ) | ||||||||||||||||
Net unrealized gains arising during the period | (159 | ) | 73 | (86 | ) | |||||||||||||||||||
Reclassification of net (gains) to Other, net | (1,783 | ) | 654 | (1,129 | ) | |||||||||||||||||||
Net change | (1,942 | ) | 727 | (1,215 | ) | |||||||||||||||||||
Ending balance | $ | (2,395 | ) | $ | 881 | $ | (1,514 | ) | ||||||||||||||||
Unrealized gains (losses) on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (354,876 | ) | $ | 54,883 | $ | (299,993 | ) | ||||||||||||||||
Unrealized gains arising during the period | 115,651 | (17,885 | ) | 97,766 | ||||||||||||||||||||
Reclassifications of losses to: | ||||||||||||||||||||||||
Cost of revenues | 113,367 | (17,533 | ) | 95,834 | ||||||||||||||||||||
Selling, general and administrative expenses | 23,245 | (3,594 | ) | 19,651 | ||||||||||||||||||||
Net change | 252,263 | (39,012 | ) | 213,251 | ||||||||||||||||||||
Ending balance | $ | (102,613 | ) | $ | 15,871 | $ | (86,742 | ) | ||||||||||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (331,296 | ) | $ | 55,037 | $ | (276,259 | ) | ||||||||||||||||
Other comprehensive income (loss) | 191,476 | (38,285 | ) | 153,191 | ||||||||||||||||||||
Ending balance | $ | (139,820 | ) | $ | 16,752 | $ | (123,068 | ) | ||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Before Tax | Tax | Net of Tax | Before Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | Effect | Amount | Amount | Effect | Amount | |||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | 11,572 | $ | — | $ | 11,572 | $ | (3,561 | ) | $ | — | $ | (3,561 | ) | ||||||||||
Change in foreign currency translation adjustments | 12,461 | — | 12,461 | 15,133 | — | 15,133 | ||||||||||||||||||
Ending balance | $ | 24,033 | $ | — | $ | 24,033 | $ | 11,572 | $ | — | $ | 11,572 | ||||||||||||
Unrealized gains (losses) on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | 2,440 | $ | (885 | ) | $ | 1,555 | $ | 1,986 | $ | (780 | ) | $ | 1,206 | ||||||||||
Net unrealized (losses) gains arising during the period | (1,638 | ) | 582 | (1,056 | ) | 1,970 | (727 | ) | 1,243 | |||||||||||||||
Reclassification of net (gains) to Other, net | (1,255 | ) | 457 | (798 | ) | (1,516 | ) | 622 | (894 | ) | ||||||||||||||
Net change | (2,893 | ) | 1,039 | (1,854 | ) | 454 | (105 | ) | 349 | |||||||||||||||
Ending balance | $ | (453 | ) | $ | 154 | $ | (299 | ) | $ | 2,440 | $ | (885 | ) | $ | 1,555 | |||||||||
Unrealized gains (losses) on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | $ | (385,640 | ) | $ | 62,601 | $ | (323,039 | ) | ||||||||
Unrealized (losses) arising during the period | (221,275 | ) | 36,248 | (185,027 | ) | (7,065 | ) | (3,548 | ) | (10,613 | ) | |||||||||||||
Reclassifications of net losses to: | ||||||||||||||||||||||||
Cost of revenues | 135,044 | (20,839 | ) | 114,205 | 79,335 | (12,601 | ) | 66,734 | ||||||||||||||||
Selling, general and administrative expenses | 27,950 | (4,311 | ) | 23,639 | 16,775 | (2,667 | ) | 14,108 | ||||||||||||||||
Net change | (58,281 | ) | 11,098 | (47,183 | ) | 89,045 | (18,816 | ) | 70,229 | |||||||||||||||
Ending balance | $ | (354,876 | ) | $ | 54,883 | $ | (299,993 | ) | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | ||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | $ | (387,215 | ) | $ | 61,821 | $ | (325,394 | ) | ||||||||
Other comprehensive income (loss) | (48,713 | ) | 12,137 | (36,576 | ) | 104,632 | (18,921 | ) | 85,711 | |||||||||||||||
Ending balance | $ | (331,296 | ) | $ | 55,037 | $ | (276,259 | ) | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||
Schedule Of Income Before Provision For Income Tax | Income before provision for income taxes shown below is based on the geographic location to which such income is attributed for years ended December 31: | |||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
United States | $ | 589,168 | $ | 540,738 | $ | 381,940 | ||||||||||||||||
Foreign | 1,334,863 | 1,147,179 | 1,005,656 | |||||||||||||||||||
Income before provision for income taxes | $ | 1,924,031 | $ | 1,687,917 | $ | 1,387,596 | ||||||||||||||||
Schedule Of Components Of Provision For Income Taxes | The provision for income taxes consists of the following components for the years ended December 31: | |||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||
Current: | ||||||||||||||||||||||
Federal and state | $ | 260,264 | $ | 269,974 | $ | 265,826 | ||||||||||||||||
Foreign | 324,080 | 277,559 | 188,415 | |||||||||||||||||||
Total current | 584,344 | 547,533 | 454,241 | |||||||||||||||||||
Deferred: | ||||||||||||||||||||||
Federal and state | (20,148 | ) | (37,085 | ) | (99,649 | ) | ||||||||||||||||
Foreign | (79,432 | ) | (51,109 | ) | (18,259 | ) | ||||||||||||||||
Total deferred | (99,580 | ) | (88,194 | ) | (117,908 | ) | ||||||||||||||||
Total provision for income taxes | $ | 484,764 | $ | 459,339 | $ | 336,333 | ||||||||||||||||
Reconciliation Between Effective Income Tax Rate and U.S. Federal Statutory Rate | The reconciliation between our effective income tax rate and the U.S. federal statutory rate were as follows for the years ended December 31: | |||||||||||||||||||||
2014 | % | 2013 | % | 2012 | % | |||||||||||||||||
Tax expense, at U.S. federal statutory rate | $ | 673,411 | 35 | $ | 590,771 | 35 | $ | 485,659 | 35 | |||||||||||||
State and local income taxes, net of federal benefit | 34,466 | 1.8 | 33,147 | 2 | 24,032 | 1.7 | ||||||||||||||||
Non-taxable income for Indian tax purposes | (182,973 | ) | (9.5 | ) | (146,326 | ) | (8.7 | ) | (151,789 | ) | (10.9 | ) | ||||||||||
Rate differential on foreign earnings | (31,757 | ) | (1.7 | ) | (24,606 | ) | (1.5 | ) | (22,126 | ) | (1.6 | ) | ||||||||||
Other | (8,383 | ) | (0.4 | ) | 6,353 | 0.4 | 557 | 0 | ||||||||||||||
Total provision for income taxes | $ | 484,764 | 25.2 | $ | 459,339 | 27.2 | $ | 336,333 | 24.2 | |||||||||||||
Schedule Of Deferred Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31: | |||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Deferred income tax assets: | ||||||||||||||||||||||
Net operating losses | $ | 9,999 | $ | 8,831 | ||||||||||||||||||
Revenue recognition | 56,478 | 34,368 | ||||||||||||||||||||
Compensation and benefits | 145,633 | 132,134 | ||||||||||||||||||||
Stock-based compensation | 22,532 | 23,202 | ||||||||||||||||||||
Minimum alternative tax (MAT) and other credits | 184,257 | 142,903 | ||||||||||||||||||||
Depreciation and amortization | — | 4,720 | ||||||||||||||||||||
Other accrued expenses | 101,669 | 70,193 | ||||||||||||||||||||
Other | 15,078 | 10,170 | ||||||||||||||||||||
535,646 | 426,521 | |||||||||||||||||||||
Less: valuation allowance | (11,420 | ) | (5,659 | ) | ||||||||||||||||||
Deferred income tax assets, net | 524,226 | 420,862 | ||||||||||||||||||||
Deferred income tax liabilities: | ||||||||||||||||||||||
Depreciation and amortization | 21,169 | — | ||||||||||||||||||||
Intangible assets | 280,649 | 38,653 | ||||||||||||||||||||
Deferred income tax liabilities | 301,818 | 38,653 | ||||||||||||||||||||
Net deferred income tax assets | $ | 222,408 | $ | 382,209 | ||||||||||||||||||
Summary Of Changes in Unrecognized Tax Benefits | Changes in unrecognized income tax benefits were as follows for the years ended December 31: | |||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Balance, beginning of year | $ | 96,610 | $ | 92,721 | ||||||||||||||||||
Additions based on tax positions related to the current year | 7,787 | 12,982 | ||||||||||||||||||||
Additions for tax positions of prior years | 5,836 | 14,854 | ||||||||||||||||||||
Additions for tax positions of acquired subsidiaries | 29,238 | — | ||||||||||||||||||||
Reductions for tax positions due to lapse of statutes of limitations | — | (4,353 | ) | |||||||||||||||||||
Reductions for tax positions of prior years | — | (10,199 | ) | |||||||||||||||||||
Settlements | — | — | ||||||||||||||||||||
Foreign currency exchange movement | (3,900 | ) | (9,395 | ) | ||||||||||||||||||
Balance, end of year | $ | 135,571 | $ | 96,610 | ||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis | The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2014: | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 176,474 | $ | — | $ | — | $ | 176,474 | ||||||||
Commercial paper | — | 7,400 | — | 7,400 | ||||||||||||
Total cash equivalents | 176,474 | 7,400 | — | 183,874 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 501,902 | — | 501,902 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 426,847 | 117,886 | — | 544,733 | ||||||||||||
Corporate and other debt securities | — | 358,563 | — | 358,563 | ||||||||||||
Certificates of deposit and commercial paper | — | 4,592 | — | 4,592 | ||||||||||||
Asset-backed securities | — | 220,084 | — | 220,084 | ||||||||||||
Municipal debt securities | — | 112,783 | — | 112,783 | ||||||||||||
Mutual funds | — | 21,920 | — | 21,920 | ||||||||||||
Total available-for-sale investment securities | 426,847 | 835,828 | — | 1,262,675 | ||||||||||||
Total short-term investments | 426,847 | 1,337,730 | — | 1,764,577 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 2,731 | — | 2,731 | ||||||||||||
Accrued expenses and other current liabilities | — | (97,302 | ) | — | (97,302 | ) | ||||||||||
Other noncurrent assets | — | 3,879 | — | 3,879 | ||||||||||||
Other noncurrent liabilities | — | (9,962 | ) | — | (9,962 | ) | ||||||||||
Total | $ | 603,321 | $ | 1,244,476 | $ | — | $ | 1,847,797 | ||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2013: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 694,416 | $ | — | $ | — | $ | 694,416 | ||||||||
Time deposits | — | 128,654 | — | 128,654 | ||||||||||||
Commercial paper | — | 22,000 | — | 22,000 | ||||||||||||
Total cash equivalents | 694,416 | 150,654 | — | 845,070 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 329,783 | — | 329,783 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 423,051 | 83,234 | — | 506,285 | ||||||||||||
Corporate and other debt securities | — | 301,841 | — | 301,841 | ||||||||||||
Certificates of deposit and commercial paper | — | 99,959 | — | 99,959 | ||||||||||||
Asset-backed securities | — | 160,267 | — | 160,267 | ||||||||||||
Municipal debt securities | — | 115,196 | — | 115,196 | ||||||||||||
Mutual funds | — | 21,136 | — | 21,136 | ||||||||||||
Total available-for-sale investment securities | 423,051 | 781,633 | — | 1,204,684 | ||||||||||||
Total short-term investments | 423,051 | 1,111,416 | — | 1,534,467 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 11,105 | — | 11,105 | ||||||||||||
Accrued expenses and other current liabilities | — | (191,584 | ) | — | (191,584 | ) | ||||||||||
Other noncurrent liabilities | — | (164,490 | ) | — | (164,490 | ) | ||||||||||
Total | $ | 1,117,467 | $ | 917,101 | $ | — | $ | 2,034,568 | ||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||
Location And Fair Values Of Derivative Financial Instruments In Our Condensed Consolidated Statements Of Financial Position | The following table provides information on the location and fair values of derivative financial instruments included in our consolidated statement of financial position as of: | ||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Designation of Derivatives | Location on Statement of | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Financial Position | |||||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | $ | 710 | $ | — | $ | — | $ | — | ||||||||||
Other noncurrent assets | 3,879 | — | — | — | |||||||||||||||
Accrued expenses and other current liabilities | — | 97,240 | — | 190,386 | |||||||||||||||
Other noncurrent liabilities | — | 9,962 | — | 164,490 | |||||||||||||||
Total | 4,589 | 107,202 | — | 354,876 | |||||||||||||||
Other Derivatives – Not designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | 2,021 | — | 11,105 | — | ||||||||||||||
Accrued expenses and other current liabilities | — | 62 | — | 1,198 | |||||||||||||||
Total | 2,021 | 62 | 11,105 | 1,198 | |||||||||||||||
Total | $ | 6,610 | $ | 107,264 | $ | 11,105 | $ | 356,074 | |||||||||||
Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income (Loss) | The notional value of our outstanding contracts by year of maturity and the net unrealized (loss) included in accumulated other comprehensive income (loss) for such contracts were as follows as of: | ||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
2014 | $ | — | $ | 1,200,000 | |||||||||||||||
2015 | 1,320,000 | 900,000 | |||||||||||||||||
2016 | 720,000 | 240,000 | |||||||||||||||||
2017 | 420,000 | — | |||||||||||||||||
Total notional value of contracts outstanding | $ | 2,460,000 | $ | 2,340,000 | |||||||||||||||
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | $ | (86,742 | ) | $ | (299,993 | ) | |||||||||||||
Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivative Financial Instruments | The following table provides information on the location and amounts of pre-tax (losses) on our cash flow hedges for the year ended December 31: | ||||||||||||||||||
Decrease (Increase) in | Location of Net Derivative | Net (Losses) Reclassified | |||||||||||||||||
Derivative | (Losses) Reclassified | from Accumulated Other | |||||||||||||||||
Losses Recognized | from Accumulated Other | Comprehensive Income (Loss) | |||||||||||||||||
in Accumulated Other | Comprehensive Income (Loss) | into Income | |||||||||||||||||
Comprehensive Income (Loss) | into Income | (effective portion) | |||||||||||||||||
(effective portion) | (effective portion) | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | $ | 115,651 | $ | (221,275 | ) | Cost of revenues | $ | (113,367 | ) | $ | (135,044 | ) | |||||||
Selling, general and administrative expenses | (23,245 | ) | (27,950 | ) | |||||||||||||||
Total | $ | (136,612 | ) | $ | (162,994 | ) | |||||||||||||
Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments | Additional information related to our outstanding contracts is as follows as of: | ||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Notional | Market Value | Notional | Market Value | ||||||||||||||||
Contracts to purchase U.S. dollars and sell: | |||||||||||||||||||
Indian rupees | $ | 160,008 | $ | 1,773 | $ | 171,802 | $ | 11,105 | |||||||||||
Euros | 24,450 | 198 | 55,500 | (412 | ) | ||||||||||||||
British pounds | 17,900 | 51 | 52,000 | (786 | ) | ||||||||||||||
Australian dollars | 9,600 | (58 | ) | — | — | ||||||||||||||
Canadian dollars | 3,650 | (5 | ) | — | — | ||||||||||||||
Total | $ | 215,608 | $ | 1,959 | $ | 279,302 | $ | 9,907 | |||||||||||
Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges | The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on our other derivative financial instruments for the years ended December 31, 2014 and 2013: | ||||||||||||||||||
Location of Net (Losses) Gains | Amount of Net (Losses) Gains | ||||||||||||||||||
on Derivative Instruments | on Derivative Instruments | ||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
Other Derivatives – Not designated as hedging instruments | Foreign currency exchange gains (losses), net | ||||||||||||||||||
Foreign exchange forward contracts | $ | (3,895 | ) | $ | 14,084 | ||||||||||||||
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share-based Compensation [Abstract] | ||||||||||||||
Schedule Of Allocation Of Total Stock-Based Compensation Expense | The allocation of total stock-based compensation expense between cost of revenues and selling, general and administrative expenses as well as the related income tax benefit were as follows for the three years ended December 31: | |||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Cost of revenues | $ | 26,762 | $ | 19,107 | $ | 16,773 | ||||||||
Selling, general and administrative expenses | 108,063 | 99,693 | 90,582 | |||||||||||
Total stock-based compensation expense | $ | 134,825 | $ | 118,800 | $ | 107,355 | ||||||||
Income tax benefit | $ | 31,374 | $ | 29,387 | $ | 26,206 | ||||||||
Schedule Of Assumptions Used To Calculate The Fair Value Of Option Grants | The fair values of option grants, including the Purchase Plan, were estimated at the date of grant during the years ended December 31, 2014, 2013, and 2012 based upon the following assumptions and were as follows: | |||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Weighted average volatility factor: | ||||||||||||||
Stock options | 28.74 | % | 33.47 | % | 36.71 | % | ||||||||
Purchase Plan | 24.86 | % | 29.17 | % | 32.31 | % | ||||||||
Weighted average expected life (in years): | ||||||||||||||
Stock options | 3.92 | 3.82 | 3.69 | |||||||||||
Purchase Plan | 0.25 | 0.25 | 0.25 | |||||||||||
Weighted average risk-free interest rate: | ||||||||||||||
Stock options | 1.25 | % | 0.73 | % | 0.43 | % | ||||||||
Purchase Plan | 0.02 | % | 0.05 | % | 0.06 | % | ||||||||
Weighted average grant date fair value: | ||||||||||||||
Stock options | $ | 11.81 | $ | 8.65 | $ | 8.39 | ||||||||
Purchase Plan | $ | 7.29 | $ | 5.87 | $ | 5.56 | ||||||||
Summary Of Activity For Stock Options | A summary of the activity for stock options granted under our stock-based compensation plans as of December 31, 2014 and changes during the year then ended is presented below: | |||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Options | Average Exercise | Average | Interinsic | |||||||||||
Price | Remaining Life | Value | ||||||||||||
(in dollars) | (in years) | (in thousands) | ||||||||||||
Outstanding at January 1, 2014 | 6,871,722 | $ | 16.43 | |||||||||||
Granted | 67,736 | 48.5 | ||||||||||||
Exercised | (1,547,558 | ) | 12.74 | |||||||||||
Cancelled | (26,560 | ) | 28.87 | |||||||||||
Expired | (3,703 | ) | 18.04 | |||||||||||
Outstanding at December 31, 2014 | 5,361,637 | $ | 17.84 | 2.46 | $ | 186,715 | ||||||||
Vested and expected to vest at December 31, 2014 | 5,350,026 | $ | 17.78 | 2.45 | $ | 186,607 | ||||||||
Exercisable at December 31, 2014 | 5,247,661 | $ | 17.31 | 2.39 | $ | 185,497 | ||||||||
Summary Of The Activity For Performance Stock Units | A summary of the activity for performance stock units granted under our stock-based compensation plans as of December 31, 2014 and changes during the year then ended is presented below. The presentation reflects the number of performance stock units at the maximum performance milestones. | |||||||||||||
Number of | Weighted Average | |||||||||||||
Units | Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2014 | 3,747,622 | $ | 39.23 | |||||||||||
Granted | 1,942,576 | 53.89 | ||||||||||||
Vested | (1,088,423 | ) | 33.09 | |||||||||||
Forfeited | (229,132 | ) | 39.42 | |||||||||||
Reduction due to the achievement of lower than maximum performance milestones | (728,090 | ) | 46.46 | |||||||||||
Unvested at December 31, 2014 | 3,644,553 | $ | 47.42 | |||||||||||
Summary Of The Activity For Restricted Stock Units | A summary of the activity for restricted stock units granted under our stock-based compensation plans as of December 31, 2014 and changes during the year then ended is presented below: | |||||||||||||
Number of | Weighted Average | |||||||||||||
Units | Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2014 | 3,596,808 | $ | 38.9 | |||||||||||
Granted | 4,205,567 | 51.85 | ||||||||||||
Vested | (2,110,271 | ) | 39.26 | |||||||||||
Forfeited | (305,002 | ) | 41.43 | |||||||||||
Unvested at December 31, 2014 | 5,387,102 | $ | 48.73 | |||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Schedule of future minimum rental payments under non-cancelable operating leases | Future minimum rental payments on our operating leases as of December 31, 2014 are as follows: | |||
Operating lease obligation | ||||
2015 | $ | 148,320 | ||
2016 | 125,277 | |||
2017 | 105,149 | |||
2018 | 81,682 | |||
2019 | 71,695 | |||
Thereafter | 214,534 | |||
Total minimum lease payments | $ | 746,657 | ||
Schedule of future minimum payments on capital leases | Future minimum rental payments on our capital leases as of December 31, 2014 are as follows: | |||
Capital lease obligation | ||||
2015 | $ | 4,705 | ||
2016 | 4,732 | |||
2017 | 4,243 | |||
2018 | 3,908 | |||
2019 | 3,821 | |||
Thereafter | 35,364 | |||
Total minimum lease payments | 56,773 | |||
Interest | (15,621 | ) | ||
Present value of minimum lease payments | $ | 41,152 | ||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | ||||||||||||
Revenues From External Customers And Segment Operating Profit | Revenues from external customers and segment operating profit, before unallocated expenses, for the Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other reportable segments were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues: | ||||||||||||
Financial Services | $ | 4,285,614 | $ | 3,717,573 | $ | 3,035,447 | ||||||
Healthcare | 2,689,427 | 2,264,826 | 1,934,898 | |||||||||
Manufacturing/Retail/Logistics | 2,093,560 | 1,868,305 | 1,498,668 | |||||||||
Other | 1,194,080 | 992,485 | 877,459 | |||||||||
Total revenue | $ | 10,262,681 | $ | 8,843,189 | $ | 7,346,472 | ||||||
Segment Operating Profit: | ||||||||||||
Financial Services | $ | 1,320,116 | $ | 1,212,099 | $ | 998,339 | ||||||
Healthcare | 850,955 | 829,916 | 724,454 | |||||||||
Manufacturing/Retail/Logistics | 685,745 | 630,250 | 527,970 | |||||||||
Other | 391,901 | 318,357 | 288,052 | |||||||||
Total segment operating profit | 3,248,717 | 2,990,622 | 2,538,815 | |||||||||
Less: unallocated costs | 1,363,839 | 1,312,712 | 1,177,319 | |||||||||
Income from operations | $ | 1,884,878 | $ | 1,677,910 | $ | 1,361,496 | ||||||
Revenues And Long-Lived Assets By Geographic Area | Revenue and long-lived assets, by geographic area, were as follows: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues: (1) | ||||||||||||
North America(2) | $ | 7,879,785 | $ | 6,860,067 | $ | 5,836,258 | ||||||
Europe(3) | 1,883,590 | 1,579,205 | 1,195,490 | |||||||||
Rest of World(4) | 499,306 | 403,917 | 314,724 | |||||||||
Total | $ | 10,262,681 | $ | 8,843,189 | $ | 7,346,472 | ||||||
2014 | 2013 | 2011 | ||||||||||
Long-lived Assets: (5) | ||||||||||||
North America(2) | $ | 188,277 | $ | 48,352 | $ | 52,149 | ||||||
Europe | 29,816 | 22,707 | 8,696 | |||||||||
Rest of World(4)(6) | 1,029,112 | 1,010,105 | 910,641 | |||||||||
Total | $ | 1,247,205 | $ | 1,081,164 | $ | 971,486 | ||||||
_____________ | ||||||||||||
-1 | Revenues are attributed to regions based upon customer location. | |||||||||||
-2 | Substantially all relates to operations in the United States. | |||||||||||
-3 | Includes revenue from operations in the United Kingdom of $1,099,178, $942,579 and $764,936 for the years ended 2014, 2013, and 2012, respectively. | |||||||||||
-4 | Includes our operations in Asia Pacific, the Middle East and Latin America. | |||||||||||
-5 | Long-lived assets include property and equipment, net of accumulated depreciation and amortization. | |||||||||||
-6 | Substantially all of these long-lived assets relate to our operations in India. |
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | |||||||||||||||||||||
Summary Of Quarterly Financial Data | Summarized quarterly results for the two years ended December 31, 2014 are as follows: | ||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
2014 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||
Revenues | $ | 2,422,348 | $ | 2,517,094 | $ | 2,581,009 | $ | 2,742,230 | $ | 10,262,681 | |||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,432,444 | 1,499,462 | 1,569,828 | 1,639,384 | 6,141,118 | ||||||||||||||||
Selling, general and administrative expenses | 485,395 | 482,985 | 506,019 | 562,622 | 2,037,021 | ||||||||||||||||
Depreciation and amortization expense | 44,473 | 46,726 | 47,649 | 60,816 | 199,664 | ||||||||||||||||
Income from operations | 460,036 | 487,921 | 457,513 | 479,408 | 1,884,878 | ||||||||||||||||
Net income | 348,878 | 371,908 | 355,624 | 362,857 | 1,439,267 | ||||||||||||||||
Basic EPS(1) | $ | 0.57 | $ | 0.61 | $ | 0.58 | $ | 0.6 | $ | 2.37 | |||||||||||
Diluted EPS(1) | $ | 0.57 | $ | 0.61 | $ | 0.58 | $ | 0.59 | $ | 2.35 | |||||||||||
Three Months Ended | |||||||||||||||||||||
2013 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||
Revenues | $ | 2,020,738 | $ | 2,161,240 | $ | 2,305,723 | $ | 2,355,488 | $ | 8,843,189 | |||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,199,965 | 1,272,013 | 1,382,336 | 1,411,155 | 5,265,469 | ||||||||||||||||
Selling, general and administrative expenses | 413,204 | 420,526 | 443,376 | 450,503 | 1,727,609 | ||||||||||||||||
Depreciation and amortization expense | 41,662 | 41,898 | 42,652 | 45,989 | 172,201 | ||||||||||||||||
Income from operations | 365,907 | 426,803 | 437,359 | 447,841 | 1,677,910 | ||||||||||||||||
Net income | 284,209 | 300,410 | 319,627 | 324,332 | 1,228,578 | ||||||||||||||||
Basic EPS(1) | $ | 0.47 | $ | 0.5 | $ | 0.53 | $ | 0.54 | $ | 2.03 | |||||||||||
Diluted EPS(1) | $ | 0.47 | $ | 0.49 | $ | 0.53 | $ | 0.53 | $ | 2.02 | |||||||||||
(1) The sum of the quarterly basic and diluted EPS for each of the four quarters may not equal the EPS for the year due to rounding. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 04, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Leasehold for land lease terms, maximum years | 99 years | |||
Total amount of shares repurchased during period | $248,317,000 | $179,004,000 | $520,845,000 | |
Deferred transition costs | 98,172,000 | 80,254,000 | ||
Dilutive effect of shares issuable under stock-based compensation plans | 4,363,000 | 5,647,000 | 9,140,000 | |
Unrecognized Tax Benefit, amount netted against Deferred Tax Asset | 94,784,000 | 74,196,000 | ||
Stock Compensation Plan [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 4,300 | 6,800 | 39,000 | |
Other antidilutive securities excluded from computation of earnings per share | 78,800 | 97,800 | 158,600 | |
Common Class A [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Stock split ratio | 2 | |||
Common stock, dividend rate | 100.00% | |||
Repurchase of common stock authorized amount maximum | 2,000,000,000 | |||
Accumulated shares repurchased | 35,242,550 | |||
Accumulated shares repurchased, value | 1,186,369,000 | |||
Common Class A [Member] | Share Repurchase Program, Stock-based Compensation Plan [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total shares repurchased during period | 1,207,595 | 1,165,872 | 1,065,184 | |
Total amount of shares repurchased during period | $60,075,000 | $47,442,000 | $34,925,000 |
Business_Combinations_Narrativ
Business Combinations (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 20, 2014 |
Business Acquisition [Line Items] | ||||
Total initial consideration, net of cash acquired | $2,691,437 | $193,805 | $59,894 | |
TriZetto [Member] | ||||
Business Acquisition [Line Items] | ||||
Total initial consideration, net of cash acquired | 2,627,830 | |||
Consideration transferred | 2,627,830 | |||
Cash acquired | 170,510 | |||
Other acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Number of business combinations | 3 | 4 | 3 | |
Total initial consideration, net of cash acquired | 46,193 | 184,200 | 28,100 | |
Settlement of contingent payment provisions for previous acquisitions | $31,400 |
Business_Combinations_Fair_Val
Business Combinations (Fair Value of Assets Acquired and Liabilities Assumed) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 20, 2014 |
In Thousands, unless otherwise specified | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $2,413,564 | $444,236 | $309,185 | |
TriZetto [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash | 170,510 | |||
Trade accounts receivable | 83,052 | |||
Unbilled accounts receivable | 32,463 | |||
Other current assets | 11,218 | |||
Property and equipment | 124,050 | |||
Identifiable intangible assets | 849,000 | |||
Other noncurrent assets | 14,782 | |||
Accounts payable | -12,395 | |||
Deferred revenue | -48,281 | |||
Accrued expenses and other current liabilities | -118,311 | |||
Other noncurrent liabilities | -54,833 | |||
Deferred income tax liabilities, net | -209,031 | |||
Goodwill | 1,956,116 | |||
Total purchase price | $2,798,340 |
Business_Combinations_Schedule
Business Combinations (Schedule Intangible Assets Acquired) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 20, 2014 |
Business Acquisition [Line Items] | ||||
Total initial consideration, net of cash acquired | $2,691,437 | $193,805 | $59,894 | |
Goodwill | 2,413,564 | 444,236 | 309,185 | |
TriZetto [Member] | ||||
Business Acquisition [Line Items] | ||||
Total initial consideration, net of cash acquired | 2,627,830 | |||
Goodwill | 1,956,116 | |||
Intangible assets acquired | 849,000 | |||
TriZetto [Member] | Trademarks [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets acquired | 21,000 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 16 years 10 months 24 days | |||
TriZetto [Member] | Technology [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets acquired | 328,000 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years 8 months 12 days | |||
TriZetto [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets acquired | 437,000 | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years 9 months 18 days | |||
TriZetto [Member] | Trademarks [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets acquired | 63,000 | |||
Other acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Total initial consideration, net of cash acquired | 46,193 | 184,200 | 28,100 | |
Goodwill | 30,875 | 129,886 | 19,096 | |
Other acquisitions [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible assets acquired | 12,126 | 58,572 | 9,400 | |
Other acquisitions [Member] | Other Intangible Assets [Member] | ||||
Business Acquisition [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||
Intangible assets acquired | $4,320 | $7,192 | $600 | |
Other acquisitions [Member] | Minimum [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 3 years | 5 years | 6 years | |
Other acquisitions [Member] | Minimum [Member] | Other Intangible Assets [Member] | ||||
Business Acquisition [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 1 year | 1 year | ||
Other acquisitions [Member] | Maximum [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | 10 years | 12 years | |
Other acquisitions [Member] | Maximum [Member] | Other Intangible Assets [Member] | ||||
Business Acquisition [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 4 years | 5 years |
Business_Combinations_Pro_Form
Business Combinations (Pro Forma Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
TriZetto [Member] | ||
Business Acquisition [Line Items] | ||
Revenues | $10,893,037 | $9,519,569 |
Income from operations | 1,959,491 | 1,253,207 |
Transaction Related Professional Service Costs [Member] | ||
Business Acquisition [Line Items] | ||
Selling, general and administrative expenses | 40,613 | |
Other Costs Incurred [Member] | ||
Business Acquisition [Line Items] | ||
Selling, general and administrative expenses | $94,341 |
Business_Combinations_Suppleme
Business Combinations (Supplemental Noncash Information) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition [Line Items] | |||
Cash paid | ($2,691,437) | ($193,805) | ($59,894) |
TriZetto [Member] | |||
Business Acquisition [Line Items] | |||
Fair value of assets acquired | 3,070,681 | ||
Cash paid | -2,627,830 | ||
Liabilities assumed | $442,851 |
Shortterm_Investments_Shortter
Short-term Investments (Short-term Investments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | $1,262,675 | $1,204,684 |
Time deposits | 501,902 | 329,783 |
Short-term Investments, Total | 1,764,577 | 1,534,467 |
U.S. Treasury And Agency Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | 544,733 | 506,285 |
Corporate And Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | 358,563 | 301,841 |
Commercial Paper and Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | 4,592 | 99,959 |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | 220,084 | 160,267 |
Municipal Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | 112,783 | 115,196 |
Mutual Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale investment securities | $21,920 | $21,136 |
Shortterm_Investments_Amortize
Short-term Investments (Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities Available-For-Sale) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $1,265,070 | $1,205,137 |
Unrealized gains | 1,464 | 2,423 |
Unrealized losses | -3,859 | -2,876 |
Fair Value | 1,262,675 | 1,204,684 |
U.S. Treasury And Agency Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 544,690 | 506,094 |
Unrealized gains | 369 | 544 |
Unrealized losses | -326 | -353 |
Fair Value | 544,733 | 506,285 |
Corporate And Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 358,990 | 300,994 |
Unrealized gains | 339 | 1,090 |
Unrealized losses | -766 | -243 |
Fair Value | 358,563 | 301,841 |
Commercial Paper and Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,593 | 99,897 |
Unrealized gains | 0 | 62 |
Unrealized losses | -1 | 0 |
Fair Value | 4,592 | 99,959 |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 220,358 | 160,559 |
Unrealized gains | 76 | 99 |
Unrealized losses | -350 | -391 |
Fair Value | 220,084 | 160,267 |
Municipal Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 112,499 | 114,888 |
Unrealized gains | 351 | 348 |
Unrealized losses | -67 | -40 |
Fair Value | 112,783 | 115,196 |
Mutual Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 23,940 | 22,705 |
Unrealized gains | 329 | 280 |
Unrealized losses | -2,349 | -1,849 |
Fair Value | $21,920 | $21,136 |
Shortterm_Investments_Availabl
Short-term Investments (Available-For-Sale Securities In A Continuous Unrealized Loss Position) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | $670,209 | $422,786 |
Unrealized losses, less than 12 months | -1,462 | -963 |
Fair value, 12 months or more | 23,515 | 26,250 |
Unrealized losses, 12 months or more | -2,397 | -1,913 |
Total fair value | 693,724 | 449,036 |
Total unrealized losses | -3,859 | -2,876 |
U.S. Treasury And Agency Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | 256,893 | 221,548 |
Unrealized losses, less than 12 months | -326 | -353 |
Fair value, 12 months or more | 0 | 0 |
Unrealized losses, 12 months or more | 0 | 0 |
Total fair value | 256,893 | 221,548 |
Total unrealized losses | -326 | -353 |
Corporate And Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | 229,669 | 106,485 |
Unrealized losses, less than 12 months | -766 | -243 |
Fair value, 12 months or more | 0 | 0 |
Unrealized losses, 12 months or more | 0 | 0 |
Total fair value | 229,669 | 106,485 |
Total unrealized losses | -766 | -243 |
Commercial Paper and Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | 3,692 | |
Unrealized losses, less than 12 months | -1 | |
Fair value, 12 months or more | 0 | |
Unrealized losses, 12 months or more | 0 | |
Total fair value | 3,692 | |
Total unrealized losses | -1 | |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | 151,919 | 84,051 |
Unrealized losses, less than 12 months | -302 | -333 |
Fair value, 12 months or more | 2,799 | 5,048 |
Unrealized losses, 12 months or more | -48 | -58 |
Total fair value | 154,718 | 89,099 |
Total unrealized losses | -350 | -391 |
Municipal Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | 28,036 | 10,702 |
Unrealized losses, less than 12 months | -67 | -34 |
Fair value, 12 months or more | 0 | 1,019 |
Unrealized losses, 12 months or more | 0 | -6 |
Total fair value | 28,036 | 11,721 |
Total unrealized losses | -67 | -40 |
Mutual Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, less than 12 months | 0 | 0 |
Unrealized losses, less than 12 months | 0 | 0 |
Fair value, 12 months or more | 20,716 | 20,183 |
Unrealized losses, 12 months or more | -2,349 | -1,849 |
Total fair value | 20,716 | 20,183 |
Total unrealized losses | ($2,349) | ($1,849) |
Shortterm_Investments_Contract
Short-term Investments (Contractual Maturities Of Investments In Debt Securities Available-For-Sale) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Amortized Cost | |
Due within one year | $65,735 |
Due after one year up to two years | 461,035 |
Due after two years up to three years | 478,111 |
Due after three years up to four years | 15,891 |
Asset-backed securities | 220,358 |
Amortized Cost | 1,241,130 |
Fair Value | |
Due within one year | 65,766 |
Due after one year up to two years | 461,315 |
Due after two years up to three years | 477,710 |
Due after three years up to four years | 15,880 |
Asset-backed securities | 220,084 |
Fair Value | $1,240,755 |
Shortterm_Investments_Gross_Ga
Short-term Investments (Gross Gains (Losses) Realized On Sales, Maturities And Other Securities Transactions Related To Investment Securities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments [Abstract] | |||
Proceeds from sales of available-for-sale investment securities | $1,475,623 | $1,119,822 | $697,406 |
Gross gains | 2,199 | 1,951 | 2,410 |
Gross losses | -391 | -554 | -402 |
Net realized gains on sales of available-for-sale investment securities | $1,808 | $1,397 | $2,008 |
Property_and_Equipment_Net_Nar
Property and Equipment, Net (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Depreciation and amortization expense | $60,816 | $47,649 | $46,726 | $44,473 | $45,989 | $42,652 | $41,898 | $41,662 | $199,664 | $172,201 | $149,089 |
Capital Leased Assets, Gross | 36,950 | 36,950 | |||||||||
Leasehold for land lease terms, maximum years | 99 years | ||||||||||
Property, Plant and Equipment [Member] | |||||||||||
Depreciation and amortization expense | $172,111 | $155,681 | $137,561 |
Property_and_Equipment_Net_Sch
Property and Equipment, Net (Schedule Of Property And Equipment, Net) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $2,099,329 | $1,800,500 | |
Accumulated depreciation and amortization | -852,124 | -719,336 | |
Property and Equipment, net | 1,247,205 | 1,081,164 | 971,486 |
Buildings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 30 years | ||
Property and Equipment, gross | 605,052 | 444,955 | |
Computer Equipment and Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 3 years | ||
Property and Equipment, gross | 537,298 | 426,527 | |
Furniture and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | 322,579 | 273,815 | |
Furniture and Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 5 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated Useful Lives | 9 years | ||
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | 22,644 | 22,644 | |
Leasehold Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | 60,111 | 60,306 | |
Capital Work-in-Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | 304,676 | 360,578 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and Equipment, gross | $246,969 | $211,675 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets, net (Schedule Of Goodwill Allocation By Reportable Segments) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $444,236 | $309,185 |
Additions | 1,986,991 | 129,886 |
Foreign currency translation adjustments | -17,663 | 5,165 |
Goodwill, Ending Balance | 2,413,564 | 444,236 |
Financial Services [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 208,588 | 137,677 |
Additions | 3,963 | 68,517 |
Foreign currency translation adjustments | -8,133 | 2,394 |
Goodwill, Ending Balance | 204,418 | 208,588 |
Healthcare [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 107,409 | 78,977 |
Additions | 1,976,924 | 27,168 |
Foreign currency translation adjustments | -4,410 | 1,264 |
Goodwill, Ending Balance | 2,079,923 | 107,409 |
Manufacturing/Retail/Logistics [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 71,644 | 48,304 |
Additions | 699 | 22,412 |
Foreign currency translation adjustments | -3,154 | 928 |
Goodwill, Ending Balance | 69,189 | 71,644 |
Operating Segments [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 44,227 | |
Additions | 11,789 | |
Foreign currency translation adjustments | 579 | |
Goodwill, Ending Balance | 60,034 | 56,595 |
Other [Member] | ||
Goodwill [Roll Forward] | ||
Additions | 5,405 | |
Foreign currency translation adjustments | ($1,966) |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets, net (Schedule Of Components For Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | $1,085,378 | $229,231 | |
Accumulated amortization | -131,629 | -97,957 | |
Net carrying amount | 953,749 | 131,274 | |
Indefinite-Lived Trade Names | 63,000 | ||
Amortization of intangibles | 35,956 | 24,249 | 19,027 |
Amortization Expense Recorded As A Reduction Of Revenues | 8,403 | 7,729 | 7,499 |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 644,408 | 203,543 | |
Accumulated amortization | -112,227 | -88,159 | |
Net carrying amount | 532,181 | 115,384 | |
Developed Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 332,161 | 4,250 | |
Accumulated amortization | -8,690 | -2,994 | |
Net carrying amount | 323,471 | 1,256 | |
Other [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | 45,809 | 21,438 | |
Accumulated amortization | -10,712 | -6,804 | |
Net carrying amount | $35,097 | $14,634 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets, net (Schedule Of Estimated Amortization Expense) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2015 | $97,095 |
2016 | 95,467 |
2017 | 92,578 |
2018 | 84,903 |
2019 | $82,691 |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities (Accrued Expenses And Other Current Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Expenses And Other Current Liabilities [Abstract] | ||
Compensation and benefits | $906,747 | $894,986 |
Income taxes | 23,846 | 24,312 |
Professional fees | 82,664 | 45,453 |
Travel and entertainment | 35,013 | 29,645 |
Customer volume incentives | 192,114 | 170,669 |
Derivative financial instruments | 97,302 | 191,584 |
Other | 184,605 | 121,572 |
Total accrued expenses and other current liabilities | $1,522,291 | $1,478,221 |
Debt_Details
Debt (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Sep. 14, 2014 | Nov. 20, 2014 | |
Bridge Loan [Member] | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | $1,000,000,000 | ||
Financing costs expensed | 3,046,000 | ||
Term Loan and Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum debt to equity ratio under covenants | 0.4 | ||
Deferred financing costs, gross | 6,047,000 | ||
Deferred financing costs, net, noncurrent | 5,705,000 | ||
Amortization period of deferred financing costs | 5 years | ||
Term Loan and Revolving Credit Facility [Member] | Base Rate [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.00% | ||
Term Loan and Revolving Credit Facility [Member] | Minimum [Member] | Eurocurrency [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.75% | ||
Term Loan and Revolving Credit Facility [Member] | Minimum [Member] | Eurocurrency Without Debt Ratings [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.88% | ||
Term Loan and Revolving Credit Facility [Member] | Maximum [Member] | Eurocurrency [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.13% | ||
Term Loan and Revolving Credit Facility [Member] | Maximum [Member] | Eurocurrency Without Debt Ratings [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.00% | ||
Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Principal amount of debt | 1,000,000,000 | ||
Interest rate at period end | 1.23% | ||
Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit, maximum borrowing capacity | 750,000,000 | ||
Notes drawn under Revolving Facility | $650,000,000 | ||
Interest rate at period end | 1.16% |
Debt_ShortTerm_Debt_Details
Debt (Short-Term Debt (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ||
Other | $2 | |
Total short-term debt | 700,002 | 0 |
Revolving Credit Facility [Member] | ||
Short-term Debt [Line Items] | ||
Notes drawn under Revolving Facility | 650,000 | |
Term Loan [Member] | ||
Short-term Debt [Line Items] | ||
Term Loan - Current Maturities | $50,000 |
Debt_LongTerm_Debt_Details
Debt (Long-Term Debt) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Less: current maturities | $987,500 | |
Long-term debt, net of current maturities | 937,500 | 0 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Less: current maturities | 987,500 | |
Less: Current portion | -50,000 | |
Long-term debt, net of current maturities | $937,500 |
Debt_Debt_Maturities_Details
Debt (Debt Maturities) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | |
2015 | $50,000 |
2016 | 56,250 |
2017 | 81,250 |
2018 | 100,000 |
2019 | 700,000 |
Less: current maturities | $987,500 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Schedule Of Changes In Accumulated Other Comprehensive Income (Loss) By Component) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Foreign Currency Translation Adjustment, Before Taxes [Roll Forward] | |||
Foreign currency translation adjustments, beginning balance, before tax | $24,033 | $11,572 | ($3,561) |
Change in foreign currency translation, before tax | -58,845 | 12,461 | 15,133 |
Foreign currency translation adjustments, ending balance, before tax | -34,812 | 24,033 | 11,572 |
Foreign Currency Translation Adjustment, Tax [Roll Forward] | |||
Foreign currency translation adjustment, beginning balance, tax | 0 | 0 | 0 |
Change in foreign currency translation, tax | 0 | 0 | 0 |
Foreign currency translation adjustment, ending balance, tax | 0 | 0 | 0 |
Foreign Currency Translation Adjustment, Net of Tax [Roll Forward] | |||
Foreign currency translation adjustments, beginning balance, net of tax | 24,033 | 11,572 | -3,561 |
Change in foreign currency translation, net of tax | -58,845 | 12,461 | 15,133 |
Foreign currency translation adjustments, ending balance, net of tax | -34,812 | 24,033 | 11,572 |
Available-for-sale Securities Adjustment, Before Taxes [Roll Forward] | |||
Unrealized gains (losses) on available-for-sale investment securities, beginning balance, before tax | -453 | 2,440 | 1,986 |
Unrealized (losses) gains arising on available-for-sale investment securities during the period, before tax | -159 | -1,638 | 1,970 |
Reclassification of (gains) to other, net on available-for-sale investment securities, before tax | -1,783 | -1,255 | -1,516 |
Net change on available-for-sale investment securities, before tax | -1,942 | -2,893 | 454 |
Unrealized gains (losses) on available-for-sale investment securities, ending balance, before tax | -2,395 | -453 | 2,440 |
Available-for-sale Securities Adjustment, Tax [Roll Forward] | |||
Unrealized gains (losses) on available-for-sale investment securities, beginning balance, tax | 154 | -885 | -780 |
Unrealized (losses) gains arising on available-for-sale investment securities during the period, tax | 73 | 582 | -727 |
Reclassification of (gains) to other, net on available-for-sale investment securities, tax | 654 | 457 | 622 |
Net change on available-for-sale investment securities, tax | 727 | 1,039 | -105 |
Unrealized gains (losses) on available-for-sale investment securities, ending balance, tax | 881 | 154 | -885 |
Available-for-sale Securities Adjustment, Net of Tax [Roll Forward] | |||
Unrealized gains (losses) on available-for-sale investment securities, beginning balance, net of tax | -299 | 1,555 | 1,206 |
Unrealized (losses) gains arising on available-for-sale investment securities during the period, net of tax | -86 | -1,056 | 1,243 |
Reclassification of (gains) to other, net on available-for-sale investment securities, net of tax | -1,129 | -798 | -894 |
Net change on available-for-sale investment securities, net of tax | -1,215 | -1,854 | 349 |
Unrealized gains (losses) on available-for-sale investment securities, ending balance, net of tax | -1,514 | -299 | 1,555 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Taxes [Roll Forward] | |||
Unrealized (losses) on cash flow hedges, beginning balance, before tax | -354,876 | -296,595 | -385,640 |
Unrealized (losses) arising on cash flow hedges during the period, before tax | 115,651 | -221,275 | -7,065 |
Net change on cash flow hedges, before tax | 252,263 | -58,281 | 89,045 |
Unrealized (losses) on cash flow hedges, ending balance, before tax | -102,613 | -354,876 | -296,595 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax [Roll Forward] | |||
Unrealized (losses) on cash flow hedges, beginning balance, tax | 54,883 | 43,785 | 62,601 |
Unrealized (losses) arising on cash flow hedges during the period, tax | -17,885 | 36,248 | -3,548 |
Net change on cash flow hedges, tax | -39,012 | 11,098 | -18,816 |
Unrealized (losses) on cash flow hedges, ending balance, tax | 15,871 | 54,883 | 43,785 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax [Roll Forward] | |||
Unrealized (losses) on cash flow hedges, beginning balance, net of tax | -299,993 | -252,810 | -323,039 |
Unrealized (losses) arising on cash flow hedges during the period, net of tax | 97,766 | -185,027 | -10,613 |
Net change on cash flow hedges, net of tax | 213,251 | -47,183 | 70,229 |
Unrealized (losses) on cash flow hedges, ending balance, net of tax | -86,742 | -299,993 | -252,810 |
Accumulated Other Comprehensive Income (Loss), Before Taxes [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance, before tax | -331,296 | -282,583 | -387,215 |
Other comprehensive income loss, before tax | 191,476 | -48,713 | 104,632 |
Accumulated other comprehensive income (loss), ending balance, before tax | -139,820 | -331,296 | -282,583 |
Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance, tax | 55,037 | 42,900 | 61,821 |
Other comprehensive income loss, tax | -38,285 | 12,137 | -18,921 |
Accumulated other comprehensive income (loss), ending balance, tax | 16,752 | 55,037 | 42,900 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income (loss), beginning balance, net of tax | -276,259 | -239,683 | -325,394 |
Other comprehensive income (loss) | 153,191 | -36,576 | 85,711 |
Accumulated other comprehensive income (loss), ending balance, net of tax | -123,068 | -276,259 | -239,683 |
Cost Of Revenues [Member] | |||
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Taxes [Roll Forward] | |||
Reclassifications of losses on cash flow hedges, before tax | 113,367 | 135,044 | 79,335 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax [Roll Forward] | |||
Reclassification of losses on cash flow hedges, tax | -17,533 | -20,839 | -12,601 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax [Roll Forward] | |||
Reclassification of losses on cash flow hedges, net of tax | 95,834 | 114,205 | 66,734 |
Selling, General and Administrative Expenses [Member] | |||
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Taxes [Roll Forward] | |||
Reclassifications of losses on cash flow hedges, before tax | 23,245 | 27,950 | 16,775 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax [Roll Forward] | |||
Reclassification of losses on cash flow hedges, tax | -3,594 | -4,311 | -2,667 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax [Roll Forward] | |||
Reclassification of losses on cash flow hedges, net of tax | $19,651 | $23,639 | $14,108 |
Employee_Benefits_Narrative_De
Employee Benefits (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Gratuity Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Amount accrued under gratuity plan net of fund assets | $90,794 | $69,629 | |
Fund assets | 66,697 | 55,004 | |
Pension and Other Postretirement Benefit Expense | 36,444 | 30,962 | 28,496 |
United States and Europe [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan expense | 45,061 | 34,628 | 24,789 |
India | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined contribution plan expense | $63,397 | $56,070 | $54,125 |
Employee contribution percentage, maximum | 12.00% |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Deferred income taxes related to MAT | $218,500 | $195,000 | |
Minimum alternative tax, expiration period (in years) | 10 years | ||
Incentive period for SEZs, years | 15 years | ||
Regular corporate income tax rate in India | 33.99% | ||
Minimum alternative tax, rate | 21.00% | ||
Income tax holiday, increase in net income | 182,973 | 146,326 | 151,789 |
Increase in diluted EPS | $0.30 | $0.24 | $0.25 |
Unrepatriated foreign earnings | 6,121,000 | ||
Accrued interest and penalties | 11,153 | 8,725 | |
Foreign Tax Authority [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Net operating loss carryforward | 20,085 | ||
Internal Revenue Service (IRS) [Member] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Net operating loss carryforward | 19,715 | ||
India | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |||
Unrepatriated foreign earnings | $5,455,000 |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Before Provision For Income Tax) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
United States | $589,168 | $540,738 | $381,940 |
Foreign | 1,334,863 | 1,147,179 | 1,005,656 |
Income before provision for income taxes | $1,924,031 | $1,687,917 | $1,387,596 |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Provision For Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current: | |||
Federal and state | $260,264 | $269,974 | $265,826 |
Foreign | 324,080 | 277,559 | 188,415 |
Total current | 584,344 | 547,533 | 454,241 |
Deferred: | |||
Federal and state | -20,148 | -37,085 | -99,649 |
Foreign | -79,432 | -51,109 | -18,259 |
Total deferred | -99,580 | -88,194 | -117,908 |
Total provision for income taxes | $484,764 | $459,339 | $336,333 |
Income_Taxes_Reconciliation_Be
Income Taxes (Reconciliation Between Effective Income Tax Rate And U.S. Federal Statutory Rate) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Tax expense, at U.S. federal statutory rate, amount | $673,411 | $590,771 | $485,659 |
State and local income taxes, net of federal benefit, amount | 34,466 | 33,147 | 24,032 |
Non-taxable income for Indian tax purposes, amount | -182,973 | -146,326 | -151,789 |
Rate differential on foreign earnings, amount | -31,757 | -24,606 | -22,126 |
Other, amount | -8,383 | 6,353 | 557 |
Total provision for income taxes | $484,764 | $459,339 | $336,333 |
Tax expense, at U.S. federal statutory rate, percentage | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal benefit, percentage | 1.80% | 2.00% | 1.70% |
Non-taxable income for Indian tax purposes, percentage | -9.50% | -8.70% | -10.90% |
Rate differential on foreign earnings, percentage | -1.70% | -1.50% | -1.60% |
Other, percentage | -0.40% | 0.40% | 0.00% |
Total provision for income taxes, percentage | 25.20% | 27.20% | 24.20% |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred income tax assets: | ||
Net operating losses | $9,999 | $8,831 |
Revenue recognition | 56,478 | 34,368 |
Compensation and benefits | 145,633 | 132,134 |
Stock-based compensation | 22,532 | 23,202 |
Minimum alternative tax (MAT) and other credits | 184,257 | 142,903 |
Depreciation and amortization | 0 | 4,720 |
Other accrued expenses | 101,669 | 70,193 |
Other | 15,078 | 10,170 |
Deferred income tax assets, gross | 535,646 | 426,521 |
Less valuation allowance | -11,420 | -5,659 |
Deferred income tax assets, net | 524,226 | 420,862 |
Deferred Tax Liabilities, Property, Plant and Equipment | 21,169 | 0 |
Deferred income tax liabilities: | ||
Intangible assets | 280,649 | 38,653 |
Deferred income tax liabilities | 301,818 | 38,653 |
Net deferred income tax assets | $222,408 | $382,209 |
Income_Taxes_Summary_Of_Change
Income Taxes (Summary Of Changes In Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Changes in unrecognized income tax benefits | ||
Balance, beginning of year | $96,610 | $92,721 |
Additions based on tax positions related to the current year | 7,787 | 12,982 |
Additions for tax positions of prior years | 5,836 | 14,854 |
Additions for tax positions of acquired subsidiaries | 29,238 | 0 |
Reductions for tax positions due to lapse of statutes of limitations | 0 | -4,353 |
Reductions for tax positions of prior years | 0 | -10,199 |
Settlements | 0 | 0 |
Foreign currency exchange movement | -3,900 | -9,395 |
Balance, end of year | $135,571 | $96,610 |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | $183,874 | $845,070 |
Time deposits | 501,902 | 329,783 |
Available-for-sale investment securities | 1,262,675 | 1,204,684 |
Investments | 1,764,577 | 1,534,467 |
Total | 1,847,797 | 2,034,568 |
Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 2,731 | 11,105 |
Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | -97,302 | -191,584 |
Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 3,879 | |
Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | -9,962 | -164,490 |
U.S. Treasury And Agency Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 544,733 | 506,285 |
Corporate And Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 358,563 | 301,841 |
Commercial Paper and Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 4,592 | 99,959 |
Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 220,084 | 160,267 |
Municipal Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 112,783 | 115,196 |
Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 21,920 | 21,136 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 176,474 | 694,416 |
Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 128,654 | |
Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 7,400 | 22,000 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 176,474 | 694,416 |
Time deposits | 0 | 0 |
Available-for-sale investment securities | 426,847 | 423,051 |
Investments | 426,847 | 423,051 |
Total | 603,321 | 1,117,467 |
Level 1 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | 0 |
Level 1 [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | 0 | 0 |
Level 1 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | |
Level 1 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | 0 | 0 |
Level 1 [Member] | U.S. Treasury And Agency Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 426,847 | 423,051 |
Level 1 [Member] | Corporate And Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 1 [Member] | Commercial Paper and Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 1 [Member] | Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 1 [Member] | Municipal Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 1 [Member] | Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 176,474 | 694,416 |
Level 1 [Member] | Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 0 | |
Level 1 [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 7,400 | 150,654 |
Time deposits | 501,902 | 329,783 |
Available-for-sale investment securities | 835,828 | 781,633 |
Investments | 1,337,730 | 1,111,416 |
Total | 1,244,476 | 917,101 |
Level 2 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 2,731 | 11,105 |
Level 2 [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | -97,302 | -191,584 |
Level 2 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 3,879 | |
Level 2 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | -9,962 | -164,490 |
Level 2 [Member] | U.S. Treasury And Agency Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 117,886 | 83,234 |
Level 2 [Member] | Corporate And Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 358,563 | 301,841 |
Level 2 [Member] | Commercial Paper and Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 4,592 | 99,959 |
Level 2 [Member] | Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 220,084 | 160,267 |
Level 2 [Member] | Municipal Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 112,783 | 115,196 |
Level 2 [Member] | Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 21,920 | 21,136 |
Level 2 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 0 | 0 |
Level 2 [Member] | Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 128,654 | |
Level 2 [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 7,400 | 22,000 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 0 | 0 |
Time deposits | 0 | 0 |
Available-for-sale investment securities | 0 | 0 |
Investments | 0 | 0 |
Total | 0 | 0 |
Level 3 [Member] | Other Current Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | 0 |
Level 3 [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | 0 | 0 |
Level 3 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, assets | 0 | |
Level 3 [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments, liabilities | 0 | 0 |
Level 3 [Member] | U.S. Treasury And Agency Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 3 [Member] | Corporate And Other Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 3 [Member] | Commercial Paper and Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 3 [Member] | Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 3 [Member] | Municipal Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 3 [Member] | Mutual Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale investment securities | 0 | 0 |
Level 3 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 0 | 0 |
Level 3 [Member] | Time Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | 0 | |
Level 3 [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Equivalents | $0 | $0 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Cash flow hedge losses expected to be reclassified to earnings within the next 12 months | $81,601 |
Cash flow hedge ineffectiveness is immaterial | Hedge ineffectiveness was immaterial for all periods presented. |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Location And Fair Values Of Derivative Financial Instruments In Our Consolidated Statement Of Financial Position) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | $6,610 | $11,105 |
Derivative liabilities fair value | 107,264 | 356,074 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 4,589 | 0 |
Derivative liabilities fair value | 107,202 | 354,876 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 710 | 0 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | 97,240 | 190,386 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 3,879 | 0 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | 9,962 | 164,490 |
Other Derivatives [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 2,021 | 11,105 |
Derivative liabilities fair value | 62 | 1,198 |
Other Derivatives [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets fair value | 2,021 | 11,105 |
Other Derivatives [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expenses And Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities fair value | $62 | $1,198 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative [Line Items] | ||||
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | ($86,742,000) | ($299,993,000) | ($252,810,000) | ($323,039,000) |
Cash Flow Hedges [Member] | Foreign Exchange Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 2,460,000,000 | 2,340,000,000 | ||
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | -86,742,000 | -299,993,000 | ||
Cash Flow Hedges [Member] | Foreign Exchange Forward, Maturity 2014 [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 0 | 1,200,000,000 | ||
Cash Flow Hedges [Member] | Foreign Exchange Forward, Maturity 2015 [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 1,320,000,000 | 900,000,000 | ||
Cash Flow Hedges [Member] | Foreign Exchange Forward, Maturity 2016 [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | 720,000,000 | 240,000,000 | ||
Cash Flow Hedges [Member] | Foreign Exchange Forward, Maturity 2017 [Member] | ||||
Derivative [Line Items] | ||||
Derivative, notional amount | $420,000,000 | $0 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivatives Financial Instruments) (Details) (Cash Flow Hedges [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | ($136,612) | ($162,994) |
Cost Of Revenues [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | -113,367 | -135,044 |
Selling, General and Administrative Expenses [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | -23,245 | -27,950 |
Foreign Exchange Forward Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
(Increase) Decrease in Derivative Losses Recognized in Accumulated Other Comprehensive Income (Loss) (effective portion) | $115,651 | ($221,275) |
Derivative_Financial_Instrumen6
Derivative Financial Instruments (Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments) (Details) (Foreign Exchange Forward Contracts [Member], Not Designated as Hedging Instrument [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Derivative [Line Items] | ||
Derivative, notional amount | $215,608,000 | $279,302,000 |
Market value | 1,959,000 | 9,907,000 |
Indian Rupees | ||
Derivative [Line Items] | ||
Derivative, notional amount | 160,008,000 | 171,802,000 |
Market value | 1,773,000 | 11,105,000 |
Euros | ||
Derivative [Line Items] | ||
Derivative, notional amount | 24,450,000 | 55,500,000 |
Market value | 198,000 | -412,000 |
British Pounds | ||
Derivative [Line Items] | ||
Derivative, notional amount | 17,900,000 | 52,000,000 |
Market value | 51,000 | -786,000 |
Australia, Dollars | ||
Derivative [Line Items] | ||
Derivative, notional amount | 9,600,000 | 0 |
Market value | -58,000 | 0 |
Canada, Dollars | ||
Derivative [Line Items] | ||
Derivative, notional amount | 3,650,000 | 0 |
Market value | ($5,000) | $0 |
Derivative_Financial_Instrumen7
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges) (Details) (Not Designated as Hedging Instrument [Member], Foreign Exchange Forward Contracts [Member], Foreign Currency Gain (Loss) [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Foreign Currency Gain (Loss) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of net gains (losses) on derivative instruments | ($3,895) | $14,084 |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 05, 2009 |
2009 Incentive Plan [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Shares authorized | 48,000,000 | |||
Shares available for grant | 15,651,686 | |||
Stock Options [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 4 years | |||
Unrecognized stock-based compensation expense | $660 | |||
Weighted average remaining requisite service period | 1 year | |||
Total intrinsic value of options exercised | 58,310 | 137,446 | 256,623 | |
Performance Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Unrecognized stock-based compensation expense | 82,709 | |||
Weighted average remaining requisite service period | 2 years 0 months 11 days | |||
Employee Stock [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Shares authorized | 28,000,000 | |||
Shares available for grant | 10,279,356 | |||
Vesting period | 3 months | |||
Eligible employees purchase percentage of whole share of fair market value | 90.00% | |||
Shares issued | 1,882,384 | |||
Fair value of shares issued | 13,725 | |||
Restricted Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Unrecognized stock-based compensation expense | $227,000 | |||
Weighted average remaining requisite service period | 2 years 4 months 28 days | |||
Non-Employee Directors [Member] | Stock Options [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 2 years | |||
Minimum [Member] | Stock Options [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Life of share-based payment award | 7 years | |||
Minimum [Member] | Performance Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 1 year | |||
Minimum [Member] | Restricted Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 3 years | |||
Maximum [Member] | Stock Options [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Life of share-based payment award | 10 years | |||
Maximum [Member] | Performance Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 3 years | |||
Maximum [Member] | Restricted Stock Units [Member] | ||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||||
Vesting period | 4 years |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans (Schedule Of Allocation Of Total Stock-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total stock-based compensation expense | $134,825 | $118,800 | $107,355 |
Income tax benefit | 31,374 | 29,387 | 26,206 |
Cost Of Revenues [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total stock-based compensation expense | 26,762 | 19,107 | 16,773 |
Selling, General and Administrative Expenses [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Total stock-based compensation expense | $108,063 | $99,693 | $90,582 |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans (Schedule Of Assumptions Used To Calculate The Fair Value Of Option Grants) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Dividend yield | 0.00% | 0.00% | 0.00% |
Stock Options [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Weighted average volatility factor | 28.74% | 33.47% | 36.71% |
Weighted average expected life (in years) | 3 years 11 months 1 day | 3 years 9 months 26 days | 3 years 8 months 9 days |
Weighted average risk-free interest rate | 1.25% | 0.73% | 0.43% |
Weighted average grant date fair value | 11.81 | 8.65 | 8.39 |
Employee Stock [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Weighted average volatility factor | 24.86% | 29.17% | 32.31% |
Weighted average expected life (in years) | 3 months | 3 months | 3 months |
Weighted average risk-free interest rate | 0.02% | 0.05% | 0.06% |
Weighted average grant date fair value | 7.29 | 5.87 | 5.56 |
StockBased_Compensation_Plans_4
Stock-Based Compensation Plans (Summary Of The Activity For Stock Options) (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 |
Number of Options | |
Number of Options, Outstanding at beginning of year | 6,871,722 |
Number of Options, Granted | 67,736 |
Number of Options, Exercised | -1,547,558 |
Number of Options, Cancelled | -26,560 |
Number of Options, Expired | -3,703 |
Number of Options, Outstanding at end of period | 5,361,637 |
Number of Options, Vested and expected to vest at end of year | 5,350,026 |
Number of Options, Exercisable at end of year | 5,247,661 |
Weighted Average Exercise Price (in dollars) | |
Weighted Average Exercise Price, Outstanding at beginning of year | $16.43 |
Weighted Average Exercise Price, Granted | $48.50 |
Weighted Average Exercise Price, Exercised | $12.74 |
Weighted Average Exercise Price, Cancelled | $28.87 |
Weighted Average Exercise Price, Expired | $18.04 |
Weighted Average Exercise Price, Outstanding at end of year | $17.84 |
Weighted Average Exercise Price, Vested and expected to vest at end of year | $17.78 |
Weighted Average Exercise Price, Exercisable at end of year | $17.31 |
Weighted Average Remaining Life, Outstanding at end of year (in years) | 2 years 5 months 16 days |
Weighted Average Remaining Life, Vested and expected to vest at end of year (in years) | 2 years 5 months 12 days |
Weighted Average Remaining Life, Exercisable at end of year (in years) | 2 years 4 months 21 days |
Aggregate Intrinsic Value, Outstanding at end of year | $186,715 |
Aggregate Intrinsic Value, Vested and expected to vest at end of year | 186,607 |
Aggregate Intrinsic Value, Exercisable at end of year | $185,497 |
StockBased_Compensation_Plans_5
Stock-Based Compensation Plans (Summary Of The Activity For Performance Stock Units) (Details) (Performance Stock Units [Member], USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 |
Performance Stock Units [Member] | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |
Unrecognized stock-based compensation expense | $82,709 |
Weighted average remaining requisite service period | 2 years 0 months 11 days |
Number of Units | |
Number of Units, Unvested at beginning of period | 3,747,622 |
Number of Units, Granted | 1,942,576 |
Number of Units, Vested | -1,088,423 |
Number of Units, Forfeited | -229,132 |
Number of Units, Reduction due to the achievement of lower than maximum performance milestones | -728,090 |
Number of Units, Unvested at end of period | 3,644,553 |
Weighted Average Grant Date Fair Value (in dollars) | |
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $39.23 |
Weighted Average Grant Date Fair Value, Granted | $53.89 |
Weighted Average Grant Date Fair Value, Vested | $33.09 |
Weighted Average Grant Date Fair Value, Forfeited | $39.42 |
Weighted Average Grant Date Fair Value, Reduction due to the achievement of lower than maximum performance milestones | $46.46 |
Weighted Average Grant Date Fair Value, Unvested at end of period | $47.42 |
StockBased_Compensation_Plans_6
Stock-Based Compensation Plans (Summary Of The Activity For Restricted Stock Units) (Details) (Restricted Stock Units [Member], USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 |
Restricted Stock Units [Member] | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |
Unrecognized stock-based compensation expense | $227,000 |
Weighted average remaining requisite service period | 2 years 4 months 28 days |
Number of Units | |
Number of Units, Unvested at beginning of period | 3,596,808 |
Number of Units, Granted | 4,205,567 |
Number of Units, Vested | -2,110,271 |
Number of Units, Forfeited | -305,002 |
Number of Units, Unvested at end of period | 5,387,102 |
Weighted Average Grant Date Fair Value (in dollars) | |
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $38.90 |
Weighted Average Grant Date Fair Value, Granted | $51.85 |
Weighted Average Grant Date Fair Value, Vested | $39.26 |
Weighted Average Grant Date Fair Value, Forfeited | $41.43 |
Weighted Average Grant Date Fair Value, Unvested at end of period | $48.73 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies Disclosure [Abstract] | |||
Rent expense | $190,918 | $166,206 | $147,576 |
Outstanding fixed capital commitments related to our India development center expansion program | $20,452 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Operating Leases) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
2015 | $148,320 |
2016 | 125,277 |
2017 | 105,149 |
2018 | 81,682 |
2019 | 71,695 |
Thereafter | 214,534 |
Total minimum lease payments | $746,657 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Capital Leases) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
2015 | $4,705 |
2016 | 4,732 |
2017 | 4,243 |
2018 | 3,908 |
2019 | 3,821 |
Thereafter | 35,364 |
Total minimum lease payments | 56,773 |
Interest | -15,621 |
Present value of minimum lease payments | $41,152 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | |
Percentage of consolidated revenues and segment operating profit, maximum | 10.00% |
Segment_Information_Revenues_F
Segment Information (Revenues From External Customers And Segment Operating Profit) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $2,742,230 | $2,581,009 | $2,517,094 | $2,422,348 | $2,355,488 | $2,305,723 | $2,161,240 | $2,020,738 | $10,262,681 | $8,843,189 | $7,346,472 |
Income from operations | 479,408 | 457,513 | 487,921 | 460,036 | 447,841 | 437,359 | 426,803 | 365,907 | 1,884,878 | 1,677,910 | 1,361,496 |
Stock-based compensation expense | 134,825 | 118,800 | 107,355 | ||||||||
Financial Services [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 4,285,614 | 3,717,573 | 3,035,447 | ||||||||
Income from operations | 1,320,116 | 1,212,099 | 998,339 | ||||||||
Healthcare [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 2,689,427 | 2,264,826 | 1,934,898 | ||||||||
Income from operations | 850,955 | 829,916 | 724,454 | ||||||||
Manufacturing/Retail/Logistics [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 2,093,560 | 1,868,305 | 1,498,668 | ||||||||
Income from operations | 685,745 | 630,250 | 527,970 | ||||||||
Other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 1,194,080 | 992,485 | 877,459 | ||||||||
Income from operations | 391,901 | 318,357 | 288,052 | ||||||||
Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Income from operations | 3,248,717 | 2,990,622 | 2,538,815 | ||||||||
Corporate, Non-Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Less: unallocated costs | $1,363,839 | $1,312,712 | $1,177,319 |
Segment_Information_Revenues_A
Segment Information (Revenues And Long-Lived Assets By Geographic Area) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Geographic Areas, Revenues | |||||||||||
Revenues | $2,742,230 | $2,581,009 | $2,517,094 | $2,422,348 | $2,355,488 | $2,305,723 | $2,161,240 | $2,020,738 | $10,262,681 | $8,843,189 | $7,346,472 |
Geographic Areas, Long-Lived Assets | |||||||||||
Long-lived assets | 1,247,205 | 1,081,164 | 1,247,205 | 1,081,164 | 971,486 | ||||||
North America [Member] | |||||||||||
Geographic Areas, Revenues | |||||||||||
Revenues | 7,879,785 | 6,860,067 | 5,836,258 | ||||||||
Geographic Areas, Long-Lived Assets | |||||||||||
Long-lived assets | 188,277 | 48,352 | 188,277 | 48,352 | 52,149 | ||||||
Europe [Member] | |||||||||||
Geographic Areas, Revenues | |||||||||||
Revenues | 1,883,590 | 1,579,205 | 1,195,490 | ||||||||
Geographic Areas, Long-Lived Assets | |||||||||||
Long-lived assets | 29,816 | 22,707 | 29,816 | 22,707 | 8,696 | ||||||
United Kingdom [Member] | |||||||||||
Geographic Areas, Revenues | |||||||||||
Revenues | 1,099,178 | 942,579 | 764,936 | ||||||||
Rest of World [Member] | |||||||||||
Geographic Areas, Revenues | |||||||||||
Revenues | 499,306 | 403,917 | 314,724 | ||||||||
Geographic Areas, Long-Lived Assets | |||||||||||
Long-lived assets | $1,029,112 | $1,010,105 | $1,029,112 | $1,010,105 | $910,641 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Summary Of Quarterly Financial Data) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Data [Abstract] | |||||||||||
Revenues | $2,742,230 | $2,581,009 | $2,517,094 | $2,422,348 | $2,355,488 | $2,305,723 | $2,161,240 | $2,020,738 | $10,262,681 | $8,843,189 | $7,346,472 |
Cost of Services, Excluding Depreciation, Depletion, and Amortization | 1,639,384 | 1,569,828 | 1,499,462 | 1,432,444 | 1,411,155 | 1,382,336 | 1,272,013 | 1,199,965 | 6,141,118 | 5,265,469 | 4,278,241 |
Selling, general and administrative expenses | 562,622 | 506,019 | 482,985 | 485,395 | 450,503 | 443,376 | 420,526 | 413,204 | 2,037,021 | 1,727,609 | 1,557,646 |
Depreciation and amortization expense | 60,816 | 47,649 | 46,726 | 44,473 | 45,989 | 42,652 | 41,898 | 41,662 | 199,664 | 172,201 | 149,089 |
Income from operations | 479,408 | 457,513 | 487,921 | 460,036 | 447,841 | 437,359 | 426,803 | 365,907 | 1,884,878 | 1,677,910 | 1,361,496 |
Net income | $362,857 | $355,624 | $371,908 | $348,878 | $324,332 | $319,627 | $300,410 | $284,209 | $1,439,267 | $1,228,578 | $1,051,263 |
Basic earnings per share | $0.60 | $0.58 | $0.61 | $0.57 | $0.54 | $0.53 | $0.50 | $0.47 | $2.37 | $2.03 | $1.74 |
Diluted earnings per share | $0.59 | $0.58 | $0.61 | $0.57 | $0.53 | $0.53 | $0.49 | $0.47 | $2.35 | $2.02 | $1.72 |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Valuation And Qualifying Accounts) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts Receivable Allowance For Doubtful Accounts [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | $26,824 | $25,816 | $24,658 |
Charged to Costs and Expenses | 4,675 | 3,571 | 5,051 |
Charged to Other Accounts | 6,170 | 0 | 0 |
Deductions/Other | 744 | 2,563 | 3,893 |
Balance at End of Period | 36,925 | 26,824 | 25,816 |
Warranty Accrual [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 17,699 | 14,840 | 12,291 |
Charged to Costs and Expenses | 24,943 | 20,327 | 17,063 |
Charged to Other Accounts | 0 | 0 | 0 |
Deductions/Other | 21,394 | 17,468 | 14,514 |
Balance at End of Period | 21,248 | 17,699 | 14,840 |
Valuation Allowance - Deferred Income Tax Assets [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 5,659 | 6,288 | 10,365 |
Charged to Costs and Expenses | 229 | 3,974 | 1,399 |
Charged to Other Accounts | 5,565 | 0 | 0 |
Deductions/Other | 33 | 4,603 | 5,476 |
Balance at End of Period | $11,420 | $5,659 | $6,288 |