Document and Entity Information
Document and Entity Information | 12 Months Ended |
Sep. 30, 2018shares | |
Document And Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Trading Symbol | DOX |
Entity Registrant Name | AMDOCS LTD |
Entity Central Index Key | 1,062,579 |
Current Fiscal Year End Date | --09-30 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 140,176,828 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 418,783 | $ 649,611 |
Short-term interest-bearing investments | 100,433 | 329,997 |
Accounts receivable, net | 971,502 | 865,068 |
Prepaid expenses and other current assets | 229,999 | 203,810 |
Total current assets | 1,720,717 | 2,048,486 |
Property and equipment, net | 496,585 | 355,685 |
Goodwill | 2,444,895 | 2,221,209 |
Intangible assets, net | 265,249 | 177,326 |
Other noncurrent assets | 420,369 | 476,674 |
Total assets | 5,347,815 | 5,279,380 |
Current liabilities: | ||
Accounts payable | 194,738 | 126,414 |
Accrued expenses and other current liabilities | 706,637 | 668,087 |
Accrued personnel costs | 261,168 | 265,354 |
Deferred revenue | 132,414 | 113,091 |
Total current liabilities | 1,294,957 | 1,172,946 |
Deferred income taxes and taxes payable | 224,572 | 219,417 |
Other noncurrent liabilities | 336,244 | 312,947 |
Total liabilities | 1,855,773 | 1,705,310 |
Amdocs Limited Shareholders' equity: | ||
Preferred Shares - Authorized 25,000 shares; £0.01 par value; 0 shares issued and outstanding | ||
Ordinary Shares - Authorized 700,000 shares; £0.01 par value; 275,896 and 273,773 issued and 140,177 and 144,391 outstanding, in 2018 and 2017, respectively | 4,436 | 4,410 |
Additional paid-in capital | 3,587,625 | 3,458,887 |
Treasury stock, at cost - 135,719 and 129,382 ordinary shares in 2018 and 2017, respectively | (4,784,352) | (4,365,124) |
Accumulated other comprehensive (loss) income | (32,731) | 18,790 |
Retained earnings | 4,673,901 | 4,457,107 |
Total Amdocs Limited shareholders' equity | 3,448,879 | 3,574,070 |
Noncontrolling interests | 43,163 | |
Total equity | 3,492,042 | 3,574,070 |
Total liabilities and equity | $ 5,347,815 | $ 5,279,380 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - £ / shares | Sep. 30, 2018 | Sep. 30, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred Shares, authorized | 25,000,000 | 25,000,000 |
Preferred Shares, par value | £ 0.01 | £ 0.01 |
Preferred Shares, issued | 0 | 0 |
Preferred Shares, outstanding | 0 | 0 |
Ordinary Shares, authorized | 700,000,000 | 700,000,000 |
Ordinary Shares, par value | £ 0.01 | £ 0.01 |
Ordinary Shares, issued | 275,896,000 | 273,773,000 |
Ordinary Shares, outstanding | 140,177,000 | 144,391,000 |
Treasury stock, at cost, ordinary shares | 135,719,000 | 129,382,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Statement [Abstract] | |||
Revenue | $ 3,974,837 | $ 3,867,155 | $ 3,718,229 |
Operating expenses: | |||
Cost of revenue | 2,595,276 | 2,507,656 | 2,408,040 |
Research and development | 276,615 | 259,097 | 252,292 |
Selling, general and administrative | 481,093 | 472,778 | 464,883 |
Amortization of purchased intangible assets and other | 108,489 | 110,291 | 109,873 |
Non-recurring charges | 85,057 | ||
Total operating expenses | 3,546,530 | 3,349,822 | 3,235,088 |
Operating income | 428,307 | 517,333 | 483,141 |
Interest and other (expense) income, net | (6,766) | (4,421) | 1,557 |
Income before income taxes | 421,541 | 512,912 | 484,698 |
Income taxes | 67,145 | 76,086 | 75,367 |
Net income | $ 354,396 | $ 436,826 | $ 409,331 |
Basic earnings per share | $ 2.49 | $ 2.99 | $ 2.74 |
Diluted earnings per share | $ 2.47 | $ 2.96 | $ 2.71 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 354,396 | $ 436,826 | $ 409,331 | |
Other comprehensive (loss) income, net of tax: | ||||
Net change in fair value of cash flow hedges | [1] | (51,116) | 11,994 | 24,666 |
Net change in fair value of available-for-sale securities | [2] | (1,182) | (978) | 249 |
Net actuarial gain (loss) on defined benefit plan | [3] | 777 | 1,679 | (2,067) |
Other comprehensive (loss) income, net of tax | (51,521) | 12,695 | 22,848 | |
Comprehensive income | $ 302,875 | $ 449,521 | $ 432,179 | |
[1] | Net of tax benefit (expense) of $4,482, $651 and $(7,053) for the fiscal years ended September 30, 2018, 2017 and 2016, respectively. | |||
[2] | Net of tax benefit (expense) of $9, $(4) and $(1) for the fiscal years ended September 30, 2018, 2017 and 2016, respectively. | |||
[3] | Net of tax (expense) benefit of $(254), $(697) and $747 for the fiscal years ended September 30, 2018, 2017 and 2016, respectively. |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Tax benefit (expense) on change in fair value of cash flow hedges | $ 4,482 | $ 651 | $ (7,053) |
Tax benefit (expense) on change in fair value of available-sale-of securities | 9 | (4) | (1) |
Tax (expense) benefit on unrealized gains (losses) on defined benefit plan | $ (254) | $ (697) | $ 747 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Ordinary Shares | Additional Paid-in Capital | Treasury Stock | Accumulated Other Comprehensive (Loss) Income | [1] | Retained Earnings | Total Amdocs Limited Shareholders' Equity | Non-controlling Interests |
Balance at Sep. 30, 2015 | $ 3,406,842 | $ 4,331 | $ 3,182,573 | $ (3,611,105) | $ (16,753) | $ 3,847,796 | $ 3,406,842 | ||
Balance, Shares at Sep. 30, 2015 | 151,150 | ||||||||
Comprehensive income: | |||||||||
Net income | 409,331 | 409,331 | 409,331 | ||||||
Other comprehensive (loss) income | 22,848 | 22,848 | 22,848 | ||||||
Comprehensive income | 432,179 | 432,179 | |||||||
Employee stock options exercised | 89,767 | $ 39 | 89,728 | 89,767 | |||||
Employee stock options exercised, Shares | 2,694 | ||||||||
Repurchase of shares | (413,422) | (413,422) | (413,422) | ||||||
Repurchase of shares, Shares | (7,236) | ||||||||
Tax benefit from equity-based awards | 7,788 | 7,788 | 7,788 | ||||||
Cash dividends declared | (112,300) | (112,300) | (112,300) | ||||||
Issuance of restricted stock, net of forfeitures | 7 | $ 7 | 7 | ||||||
Issuance of restricted stock, net of forfeitures, Shares | 526 | ||||||||
Equity-based compensation expense related to employees | 42,700 | 42,700 | 42,700 | ||||||
Balance at Sep. 30, 2016 | 3,453,561 | $ 4,377 | 3,322,789 | (4,024,527) | 6,095 | 4,144,827 | 3,453,561 | ||
Balance, Shares at Sep. 30, 2016 | 147,134 | ||||||||
Comprehensive income: | |||||||||
Net income | 436,826 | 436,826 | 436,826 | ||||||
Other comprehensive (loss) income | 12,695 | 12,695 | 12,695 | ||||||
Comprehensive income | 449,521 | 449,521 | |||||||
Employee stock options exercised | 87,976 | $ 28 | 87,948 | 87,976 | |||||
Employee stock options exercised, Shares | 2,220 | ||||||||
Repurchase of shares | (340,597) | (340,597) | (340,597) | ||||||
Repurchase of shares, Shares | (5,519) | ||||||||
Tax benefit from equity-based awards | 3,611 | 3,611 | 3,611 | ||||||
Cash dividends declared | (124,546) | (124,546) | (124,546) | ||||||
Issuance of restricted stock, net of forfeitures | 5 | $ 5 | 5 | ||||||
Issuance of restricted stock, net of forfeitures, Shares | 556 | ||||||||
Equity-based compensation expense related to employees | 44,539 | 44,539 | 44,539 | ||||||
Balance at Sep. 30, 2017 | $ 3,574,070 | $ 4,410 | 3,458,887 | (4,365,124) | 18,790 | 4,457,107 | 3,574,070 | ||
Balance, Shares at Sep. 30, 2017 | 144,391 | 144,391 | |||||||
Comprehensive income: | |||||||||
Net income | $ 354,396 | 354,396 | 354,396 | ||||||
Other comprehensive (loss) income | (51,521) | (51,521) | (51,521) | ||||||
Comprehensive income | 302,875 | 302,875 | |||||||
Employee stock options exercised | $ 81,286 | $ 24 | 81,262 | 81,286 | |||||
Employee stock options exercised, Shares | 1,800 | 1,800 | |||||||
Repurchase of shares | $ (419,228) | (419,228) | (419,228) | ||||||
Repurchase of shares, Shares | (6,337) | (6,337) | |||||||
Cash dividends declared | $ (137,602) | (137,602) | (137,602) | ||||||
Issuance of restricted stock, net of forfeitures | 2 | $ 2 | 2 | ||||||
Issuance of restricted stock, net of forfeitures, Shares | 323 | ||||||||
Equity-based compensation expense related to employees | 47,476 | 47,476 | 47,476 | ||||||
Contribution of Noncontrolling interests | 43,163 | $ 43,163 | |||||||
Balance at Sep. 30, 2018 | $ 3,492,042 | $ 4,436 | $ 3,587,625 | $ (4,784,352) | $ (32,731) | $ 4,673,901 | $ 3,448,879 | $ 43,163 | |
Balance, Shares at Sep. 30, 2018 | 140,177 | 140,177 | |||||||
[1] | As of September 30, 2018, 2017 and 2016, accumulated other comprehensive(loss) income is comprised of unrealized (loss) gain on derivatives, net of tax, of $(26,608), $24,508 and $12,514 , unrealized (loss) gain on short-term interest-bearing investments, net of tax, of $(1,592), $(410) and $568 and unrealized (loss) on defined benefit plan, net of tax, of $(4,531), $(5,308) and $(6,987). |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | |||
Cash dividends declared per ordinary share | $ 0.970 | $ 0.855 | $ 0.755 |
Unrealized (loss) gain on derivatives, net of tax | $ (26,608) | $ 24,508 | $ 12,514 |
Unrealized (loss) gain on short-term interest-bearing investments, net of tax | (1,592) | (410) | 568 |
Unrealized (loss) on defined benefit plan, net of tax | $ (4,531) | $ (5,308) | $ (6,987) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Cash Flow from Operating Activities: | |||
Net income | $ 354,396 | $ 436,826 | $ 409,331 |
Reconciliation of net income to net cash provided by operating activities: | |||
Depreciation and amortization | 211,224 | 214,885 | 211,791 |
Equity-based compensation expense | 47,476 | 44,539 | 42,700 |
Deferred income taxes | 25,098 | 6,551 | (2,315) |
Excess tax benefit from equity-based compensation | (4,666) | (6,913) | |
Loss from short-term interest-bearing investments | 1,324 | 9 | 407 |
Net changes in operating assets and liabilities, net of amounts acquired: | |||
Accounts receivable, net | (66,451) | (41,075) | (70,859) |
Prepaid expenses and other current assets | (18,736) | 11,002 | (11,164) |
Other noncurrent assets | 9,674 | (52,667) | 2,587 |
Accounts payable, accrued expenses and accrued personnel | 25,348 | 72,049 | 59,982 |
Deferred revenue | 7,650 | (50,230) | (49,828) |
Income taxes payable, net | (31,036) | (15,145) | 10,112 |
Other noncurrent liabilities | (8,718) | 14,034 | 24,403 |
Net cash provided by operating activities | 557,249 | 636,112 | 620,234 |
Cash Flow from Investing Activities: | |||
Purchase of property and equipment | (231,146) | (133,392) | (130,086) |
Proceeds from sale of short-term interest-bearing investments | 303,090 | 278,066 | 361,960 |
Purchase of short-term interest-bearing investments | (76,037) | (281,983) | (370,742) |
Net cash paid for acquisitions | (355,142) | (18,064) | (283,450) |
Other | (3,157) | (29,940) | (18,533) |
Net cash used in investing activities | (362,392) | (185,313) | (440,851) |
Cash Flow from Financing Activities: | |||
Borrowings under financing arrangements | 120,000 | 200,000 | 200,000 |
Payments under financing arrangements | (120,000) | (400,000) | (220,000) |
Repurchase of shares | (419,228) | (340,597) | (413,422) |
Proceeds from employee stock option exercises | 81,280 | 87,586 | 89,600 |
Payments of dividends | (134,292) | (121,503) | (109,304) |
Investment by noncontrolling interests, net | 47,013 | ||
Excess tax benefit from equity-based compensation and other | (458) | 4,666 | 6,830 |
Net cash used in financing activities | (425,685) | (569,848) | (446,296) |
Net decrease in cash and cash equivalents | (230,828) | (119,049) | (266,913) |
Cash and cash equivalents at beginning of year | 649,611 | 768,660 | 1,035,573 |
Cash and cash equivalents at end of year | 418,783 | 649,611 | 768,660 |
Cash paid for: | |||
Income taxes, net of refunds | 55,938 | 67,544 | 50,407 |
Interest | $ 2,009 | $ 1,145 | $ 576 |
Nature of Entity
Nature of Entity | 12 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Entity | Note 1 — Nature of Entity Amdocs Limited (the “Company”) is a leading provider of software and services to communications, cable and satellite, entertainment and media industry service providers of all sizes throughout the world. The Company and its consolidated subsidiaries operate in one segment and designs, develops, markets, supports, implements and operates amdocsONE, an open and modular solution set. The Company is a Guernsey corporation, which directly or indirectly holds numerous subsidiaries around the world, the vast majority of which are wholly-owned. The majority of the Company’s customers are in North America, Europe, Latin America and the Asia-Pacific region. The Company’s main development facilities are located in Brazil, Canada, Cyprus, India, Ireland, Israel, Mexico, the Philippines, the United Kingdom and the United States. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 — Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles, or GAAP and are denominated in US Dollar unless indicated otherwise. Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, the vast majority of which are wholly-owned. All intercompany transactions and balances have been eliminated in consolidation. In December 2017, the Company entered into agreements with Union Investments and Development Limited (“Union”) to partner through a legal entity that is equally owned by the Company and Union for the purpose of acquiring specific land which the Company expects to use as the site for a new campus in Ra’anana, Israel. On January 2, 2018 the Company completed the acquisition of the land. Pursuant to the agreements between the Company and Union, as the Company has control over the construction and ongoing operations of the new campus, the new entity’s financial information is consolidated into the Company’s consolidated financial statements with the portion not owned classified as non-controlling Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Reclassifications From time to time, certain immaterial amounts in prior year financial statements may be reclassified to conform to the current year presentation. Functional Currency The Company manages its foreign subsidiaries as integral direct components of its operations. The operations of the Company’s foreign subsidiaries provide the same type of services with the same type of expenditures throughout the Amdocs group. The Company has determined that its functional currency is the U.S. dollar. The Company periodically assesses the applicability of the U.S. dollar as the Company’s functional currency by reviewing the salient indicators as indicated in the authoritative guidance for foreign currency matters. Cash and Cash Equivalents Cash and cash equivalents consist of cash and interest-bearing investments with insignificant interest rate risk and maturities from acquisition date of 90 days or less. Accounts Receivable Factoring From time to time, the Company uses non-recourse Investments The Company classifies all of its short-term interest-bearing investments as available-for-sale first-in-first-out Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset, which primarily ranges from three to ten years. Leasehold improvements are amortized over the shorter of the estimated useful lives or the term of the related lease. Property and equipment that have been fully depreciated and are no longer in use are netted against accumulated depreciation. The Company capitalizes certain expenditures for software that is internally developed for use in the business, which is classified as computer equipment. Amortization of internal use software begins when the software is ready for service and continues on the straight-line method over the estimated useful life. The Company capitalizes the expenditures related to the new campus in Israel, which are classified as building and land. Amortization will begin when the new campus is ready for use and will be amortized on the straight-line basis over the estimated useful life. Goodwill, Intangible Assets and Long-Lived Assets Goodwill and intangible assets deemed to have indefinite lives are subject to an annual impairment test or more frequently if impairment indicators are present. Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value. The goodwill impairment test involves a two-step The total purchase price of business acquisitions accounted for using the purchase method is allocated first to identifiable assets and liabilities based on estimated fair values. The excess of the purchase price over the fair value of net assets of purchased businesses is recorded as goodwill. Other definite-life intangible assets consist primarily of core technology and customer relationships. Core technology acquired by the Company is amortized over its estimated useful life on a straight-line basis. Some of the acquired customer relationships are amortized over their estimated useful lives in proportion to the economic benefits realized. This accounting policy generally results in accelerated amortization of such customer relationships as compared to the straight-line method. All other acquired customer relationships are amortized over their estimated useful lives on a straight-line basis. The Company tests long-lived assets, including definite life intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability of long-lived assets is based on an estimate of the undiscounted future cash flows resulting from the use of the cash generating unit and its eventual disposition. Measurement of an impairment loss for long-lived assets, including definite life intangible assets that management expects to hold and use is based on the fair value of the cash generating unit. Long-lived assets, including definite life intangible assets, to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. Comprehensive Income Comprehensive income, net of related taxes where applicable, includes, in addition to net income: (i) net change in fair value of available-for-sale (ii) net change in fair value of cash flow hedges; and (iii) net actuarial gains and losses on defined benefit plans. Treasury Stock The Company repurchases its ordinary shares from time to time on the open market or in other transactions and holds such shares as treasury stock. The Company presents the cost to repurchase treasury stock as a reduction of equity. Business Combinations In accordance with business combinations accounting, assets acquired and liabilities assumed, as well as any contingent consideration that may be part of the acquisition agreement, are recorded at their respective fair values at the date of acquisition. For acquisitions that include contingent consideration, the fair value is estimated on the acquisition date as the present value of the expected contingent payments, determined using weighted probabilities of possible payments. The Company remeasures the fair value of the contingent consideration at each reporting period until the contingency is resolved. Except for measurement period adjustments, the changes in fair value are recognized in the consolidated statements of income. Any earn-out In accordance with business combinations accounting, the Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed, as well as to in-process Although the Company believes the assumptions and estimates of fair value it has made in the past have been reasonable and appropriate, they are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain and subject to refinement. Critical estimates in valuing certain assets acquired and liabilities assumed include but are not limited to: future expected cash flows from license and service sales, maintenance, customer contracts and acquired developed technologies, expected costs to develop the in-process The Company estimates the fair values of its services, hardware, software license and maintenance obligations assumed. The estimated fair values of these performance obligations are determined utilizing a cost build-up build-up The Company may establish a valuation allowance for certain deferred tax assets and estimate the value of uncertain tax positions of a newly acquired entity. This process requires significant judgment and analysis. Income Taxes The Company records deferred income taxes to reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and tax purposes. Deferred taxes are computed based on tax rates anticipated to be in effect when the deferred taxes are expected to be paid or realized. A valuation allowance is provided for deferred tax assets if it is more likely than not, the Company will not be able to realize their benefit. Deferred tax liabilities and assets are classified as noncurrent on the balance sheet. Deferred tax liabilities also include anticipated withholding taxes due on subsidiaries’ earnings when paid as dividends to the Company. The Company recognizes the tax benefit from an uncertain tax position only if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The tax benefits recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes. See Note 11 to the consolidated financial statements. Revenue Recognition Revenue is recognized only when all of the following conditions have been met: (i) there is persuasive evidence of an arrangement; (ii) delivery has occurred; (iii) the fee is fixed or determinable; and (iv) collectability of the fee is reasonably assured. The Company usually sells its software licenses as part of an overall solution offered to a customer that combines the sale of software licenses with a broad range of services, which normally include significant customization, modification, implementation and integration. Those services are deemed essential to the software. As a result, revenue is generally recognized over the course of these projects, using the percentage of completion method of accounting, usually based on a percentage that incurred labor effort to date bears to total projected labor effort. When total cost estimates for these types of arrangements exceed revenues in a fixed-price arrangement, the estimated losses are recognized immediately based upon the cost applicable to the delivering unit. Significant judgment is required when estimating total labor effort and progress to completion on these arrangements, as well as whether a loss is expected to be incurred on the project. The Company evaluates contracts entered into at or near the same time with the same customer (or related parties of the customer) and determines if the contracts should be combined in accordance with the guidance for revenue recognition. Initial license fee for software revenue is recognized as work is performed, under the percentage of completion method of accounting. Contingent subsequent license fee revenue is recognized upon completion of specified conditions in each contract, based on a customer’s subscriber level or transaction volume or other measurements when greater than the level specified in the contract for the initial license fee. Revenue from sales of hardware that functions together with the software licenses to provide the essential functionality of the product and that includes significant customization, modification, implementation and integration, is recognized as work is performed, under the percentage of completion method of accounting. Revenue that involves significant ongoing obligations, including fees for software customization, modification, implementation and integration as part of a long-term contract, is recognized as work is performed, under the percentage of completion method of accounting. Revenue from software solutions that do not require significant customization, implementation and modification is recognized upon delivery. Revenue that does not involve significant ongoing obligations is recognized as services are rendered. Fees are generally considered fixed and determinable unless a significant portion (more than 10%) of the license and related service fee is due more than 12 months after delivery, in which case license and related services fees are recognized when payments are due. In managed services contracts and in other long-term contracts, revenue from the operation of a customer’s system is recognized either as services are performed based on time elapsed, output produced, volume of data processed or subscriber count, depending on the specific contract terms of the managed services arrangement. Typically, managed services contracts are long-term in duration and are not subject to seasonality. Revenue from ongoing support services is recognized as work is performed. Revenue from third-party hardware sales is recognized upon delivery and installation, and revenue from third-party software sales is recognized upon delivery. Revenue from third-party hardware and software sales is recorded at gross amount for transactions in which the Company is the primary obligor under the arrangement as well as, in some cases, possesses other attributes such as latitude in determining prices and selecting suppliers. In specific circumstances where the Company does not meet the above criteria, particularly when the contract stipulates that the Company is not the primary obligor, the Company recognizes revenue on a net basis. Revenue from third-party hardware and software sales was less than 10% of revenue in each of fiscal years 2018, 2017 and 2016. In certain arrangements, the Company may earn revenue from other third-party services which is recorded at a gross or net amount according to certain indicators. Maintenance revenue is recognized ratably over the term of the maintenance agreement, which in most cases is one year. As a result of a significant portion of the Company’s revenue being subject to the percentage of completion accounting method, the Company’s annual and quarterly operating results may be significantly affected by the size and timing of customer projects and the Company’s progress in completing such projects. Many of the Company’s agreements include multiple deliverables. The Company’s multiple element arrangements are comprised of a variety of different combinations of the deliverables mentioned above. For multiple element arrangements within the scope of software revenue recognition guidance, the Company allocates revenue to each element based upon its relative fair value as determined by Vendor Specific Objective Evidence (“VSOE”). In the absence of fair value for a delivered element the Company uses the residual method. The residual method requires that the Company first allocate revenue to the fair value of the undelivered elements and residual revenue to delivered elements. If VSOE of any undelivered items does not exist, revenue from the entire arrangement is deferred and recognized at the earlier of (i) delivery of those elements for which VSOE does not exist or (ii) when VSOE can be established. However, in limited cases where maintenance is the only undelivered element without VSOE, the entire arrangement fee is recognized ratably upon commencement of the maintenance services. The residual method is used mainly in multiple element arrangements that include license for the sale of software solutions that do not require significant customization, modification, implementation and integration and maintenance to determine the appropriate value for the license component. Under the guidance for revenue arrangements with multiple deliverables that are outside the scope of the software revenue recognition guidance, the Company allocates revenue to each element based upon the relative fair value. Fair value would be allocated by using a hierarchy of 1) VSOE, 2) third-party evidence of selling price for that element, or 3) estimated selling price, or ESP, for individual elements of an arrangement when VSOE or third-party evidence of selling price is unavailable. This results in the elimination of the residual method of allocating revenue consideration. The Company determines ESP for the purposes of allocating the consideration to individual elements of an arrangement by considering several external and internal factors including, but not limited to, pricing practices, margin objectives, geographies in which the Company offers its services and internal costs. The determination of ESP is judgmental and is made through consultation with and approval by management. In certain circumstances where the Company enters into a contract with a customer for the provision of managed services for a defined period of time, the Company defers certain direct costs incurred at the inception of the contract. These costs include expenses incurred in association with the origination of a contract. In addition, if the revenue for a delivered item is not recognized because it is not separable from the undelivered item, then the Company also defers the cost of the delivered item. The deferred costs are amortized on a straight-line basis over the managed services period, or over the recognition period of the undelivered item. Revenue associated with these capitalized costs is deferred and is recognized over the same period. Deferred revenue represents billings to customers for licenses and services for which revenue has not been recognized. Deferred revenue that is expected to be recognized beyond the next 12 months is considered long-term deferred revenue. Unbilled accounts receivable include all revenue amounts that had not been billed as of the balance sheet date due to contractual or other arrangements with customers. Unbilled accounts receivable that are expected to be billed beyond the next 12 months are considered long-term unbilled receivables. Billed accounts receivables include all outstanding invoices to customers, as well as amounts allowed to be billed according to contractual or other arrangements with customers. Cost of Revenue Cost of revenue consists of all costs associated with providing software licenses and services to customers, including identified losses on contracts. Estimated losses on contracts accounted for using the percentage of completion method of accounting are recognized in the period in which the loss is identified. Cost of revenue includes license fees and royalty payments to software suppliers. Cost of revenue also includes costs of third-party products associated with selling third-party computer hardware and software products to customers and other third-party services, when the related revenue is recorded at the gross amount. Customers purchasing third-party products and services from the Company generally do so in conjunction with the purchase of the Company’s software and services. Research and Development Research and development expenditures consist of costs incurred in the development of new software modules and product offerings, either as part of the Company’s internal product development programs, which are sold, leased or otherwise marketed. Research and development costs are expensed as incurred. Based on the Company’s product development process, technological feasibility is established upon completion of a detailed program design or, in the absence thereof, completion of a working model. Costs incurred by the Company after achieving technological feasibility and before the product is ready for customer release have been insignificant. Equity-Based Compensation The Company measures and recognizes the compensation expense for all equity-based payments to employees and directors based on their estimated fair values. The Company estimates the fair value of employee stock options at the date of grant using a Black-Scholes valuation model and values restricted stock based on the market value of the underlying shares at the date of grant. The Company recognizes compensation costs using the graded vesting attribution method that results in an accelerated recognition of compensation costs in comparison to the straight-line method. The Company uses a combination of implied volatility of the Company’s traded options and historical stock price volatility (“blended volatility”) as the expected volatility assumption required in the Black-Scholes option valuation model. As equity-based compensation expense recognized in the Company’s consolidated statements of income is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents, short-term interest-bearing investments, and trade receivables. Cash and cash equivalents are maintained with several financial institutions. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple financial institutions and monitoring the risk profiles of these counterparties. The Company has conservative investment policy guidelines under which it invests its excess cash primarily in highly liquid U.S. dollar-denominated securities. The Company’s revenue is generated primarily in North America. To a lesser extent, revenue is generated in Europe and the rest of the world. Most of the Company’s customers are among the largest communications and media companies in the world (or are owned by them). The Company’s business is subject to the effects of general global economic conditions and market conditions in the communications industry. The Company performs ongoing credit analyses of its customer base and generally does not require collateral. The Company evaluates accounts receivable to determine if they will ultimately be collected. Significant judgments and estimates are involved in performing this evaluation, which are based on factors that may affect a customer’s ability to pay, such as past experience, credit quality of the customer, age of the receivable balance and current economic conditions. The allowance for doubtful accounts is for estimated losses resulting from accounts receivable for which their collection is not reasonably probable. As of September 30, 2018, the Company had one customer with an accounts receivable balance of more than 10% of total accounts receivable, amounting to 19%, which was lower than its respective portion of total revenue. As of September 30, 2017, the Company had one customer with an accounts receivable balance of more than 10% of total accounts receivable, amounting to 27%, which was lower than its respective portion of total revenue. Earnings per Share Basic earnings per share is calculated using the weighted average number of shares outstanding during the period. Diluted earnings per share is computed on the basis of the weighted average number of shares outstanding and the effect of dilutive outstanding equity-based awards using the treasury stock method. The Company includes participating securities (unvested restricted shares that contain non-forfeitable two-class Derivatives and Hedging The Company carries out transactions involving foreign currency exchange derivative financial instruments. The transactions are designed to hedge the Company’s exposure in currencies other than the U.S. dollar. The Company recognizes derivative instruments as either assets or liabilities and measures those instruments at fair value. If a derivative meets the definition of a cash flow hedge and is so designated, changes in the fair value of the derivative are recognized in other comprehensive (loss) income until the hedged item is recognized in earnings. The ineffective portion of a derivative designated as a cash flow hedge is recognized in earnings. If a derivative does not meet the definition of a cash flow hedge, the changes in the fair value are included in earnings. Recent Accounting Standards In November 2018, the Financial Accounting Standards Board, or FASB issued an ASU No. 2018-18 , “Collaborative Arrangements In August 2018, the Financial Accounting Standards Board, or FASB issued an ASU No. 2018-15 , “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract”. internal-use In August 2018, the Financial Accounting Standards Board, or FASB issued an ASU No. 2018-13 , “ ”. In August 2018, the FASB issued an ASU No. 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans” In June 2018, the FASB issued an ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting ” In December 2017, SEC issued Staff Accounting Bulletin No. 118 (“SAB No. 118”) due to the new tax legislation in the United States (The Tax Cuts and Jobs Act or “The Act”) which allows the Company to record provisional amounts during a one-year one-time one-time In August 2017, the FASB issued an ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities ” In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business In August 2016, the FASB issued an ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments ” . In June 2016, the FASB issued an ASU 2016-13, Measurement of Credit Losses on Financial Instruments ” off-balance In February 2016, the FASB issued an ASU 2016-02, “Leases”. In January 2016, the FASB issued an ASU 2016-01, Financial Instruments – Overall ” In May 2014, the FASB issued an ASU 2014-09, Revenue from Contracts with Customers”. Adoption of New Accounting Standards In March 2016, the FASB issued an ASU 2016-09, Compensation—Stock Compensation” In September 2015, the FASB issued an ASU 2015-16, Business combination |
Acquisitions
Acquisitions | 12 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Acquisitions | Note 3 — Acquisitions Entities acquired by the Company during the last three fiscal years have been consolidated into the Company’s results of operations since their respective acquisition dates. These acquisitions, individually and in the aggregate, were not material in any fiscal year. During fiscal year 2018, the Company acquired three technology companies for an aggregate consideration of $355,142 in cash: Vubiquity, a leading provider of premium content services and technology solutions, projekt202, a leader in experience-driven software design and development, and UXP systems (“UXP”) whose User Lifecycle Management solution is a leading platform for empowering digital user relationships and digital identity. See Note 9 to the consolidated financial statement. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 4 — Fair Value Measurements The Company accounts for certain assets and liabilities at fair value. Fair value is the price that would be received from selling an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. The Company categorizes each of its fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. The three levels of inputs that may be used to measure fair value are as follows: Level 1: Level 2: Level 3: The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and 2017: As of September 30, 2018 Level 1 Level 2 Level 3 Total Available-for-sale Corporate bonds $ — $ 47,531 $ — $ 47,531 Money market funds 30,883 — — 30,883 U.S. government treasuries 23,258 — — 23,258 U.S. agency securities — 16,033 — 16,033 Asset backed obligations — 9,177 — 9,177 Supranational and sovereign debt — 4,434 — 4,434 Total available-for-sale 54,141 77,175 — 131,316 Derivative financial instruments, net — (27,842 ) — (27,842 ) Other liabilities — — (37,954 ) (37,954 ) Total $ 54,141 $ 49,333 $ (37,954 ) $ 65,520 As of September 30, 2017 Level 1 Level 2 Level 3 Total Available-for-sale Corporate bonds $ — $ 98,385 $ — $ 98,385 U.S. government treasuries 84,363 — — 84,363 U.S. agency securities — 60,646 — 60,646 Money market funds 52,504 — — 52,504 Asset backed obligations — 47,074 — 47,074 Commercial paper and certificates of deposit — 33,448 — 33,448 Supranational and sovereign debt — 8,777 — 8,777 Total available-for-sale 136,867 248,330 — 385,197 Derivative financial instruments, net — 27,352 — 27,352 Other liabilities — — (21,972 ) (21,972 ) Total $ 136,867 $ 275,682 $ (21,972 ) $ 390,577 Available-for-sale non-binding Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued personnel costs, short-term financing arrangements and other current liabilities approximate their fair value because of the relatively short maturity of these items. |
Available-For-Sale Securities
Available-For-Sale Securities | 12 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-For-Sale Securities | Note 5 — Available-For-Sale Available-for-sale As of September 30, 2018 Amortized Gross Gross Fair Value Corporate bonds $ 48,252 $ — $ 721 $ 47,531 Money market funds 30,883 — — 30,883 U.S. government treasuries 23,656 — 398 23,258 U.S. agency securities 16,297 — 264 16,033 Asset backed obligations 9,312 — 135 9,177 Supranational and sovereign debt 4,508 — 74 4,434 Total(1) $ 132,908 $ — $ 1,592 $ 131,316 (1) Available-for-sale available-for-sale As of September 30, 2017 Amortized Gross Gross Fair Value Corporate bonds $ 98,367 $ 176 $ 158 $ 98,385 U.S. government treasuries 84,558 — 195 84,363 U.S. agency securities 60,794 — 148 60,646 Money market funds 52,504 — — 52,504 Asset backed obligations 47,108 — 34 47,074 Commercial paper and certificates of deposit 33,448 — — 33,448 Supranational and sovereign debt 8,819 — 42 8,777 Total(1) $ 385,598 $ 176 $ 577 $ 385,197 (1) Available-for-sale available-for-sale As of September 30, 2018, the unrealized losses attributable to the Company’s available-for-sale As of September 30, 2018, the Company’s available-for-sale Market Value Due within one year $ 63,069 1 to 2 years 44,615 2 to 3 years 20,255 3 to 4 years 2,382 Thereafter 995 $ 131,316 |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Note 6 — Derivative Financial Instruments The Company’s risk management strategy includes the use of derivative financial instruments to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The Company does not enter into derivative transactions for trading purposes. The Company’s derivatives expose it to credit risks from possible non-performance The Company classifies cash flows from its derivative transactions as cash flows from operating activities in the consolidated statements of cash flow. The table below presents the total volume or notional amounts of the Company’s derivative instruments as of September 30, 2018. Notional values are in U.S. dollars and are translated and calculated based on forward rates as of September 30, 2018 for forward contracts, and based on spot rates as of September 30, 2018 for options. Notional Value* Foreign exchange contracts $ 1,147,934 (*) Gross notional amounts do not quantify risk or represent assets or liabilities of the Company but are used in the calculation of settlements under the contracts. The Company records all derivative instruments on the balance sheet at fair value. For further information, see Note 4 to the consolidated financial statements. The fair value of the open foreign exchange contracts recorded as an asset or a liability by the Company on its consolidated balance sheets as of September 30, 2018 and September 30, 2017, is as follows: As of September 30, 2018 2017 Derivatives designated as hedging instruments Prepaid expenses and other current assets $ 221 $ 30,141 Other noncurrent assets 25 1,091 Accrued expenses and other current liabilities (17,681 ) (2,317 ) Other noncurrent liabilities (10,030 ) (1,035 ) (27,465 ) 27,880 Derivatives not designated as hedging instruments Prepaid expenses and other current assets 2,758 2,840 Accrued expenses and other current liabilities (3,135 ) (3,368 ) (377 ) (528 ) Net fair value $ (27,842 ) $ 27,352 Cash Flow Hedges In order to reduce the impact of changes in foreign currency exchange rates on its results, the Company enters into foreign currency exchange forward and option contracts to purchase and sell foreign currencies to hedge a significant portion of its foreign currency net exposure resulting from revenue and expense transactions denominated in currencies other than the U.S. dollar. The Company designates these contracts for accounting purposes as cash flow hedges. The Company currently hedges its exposure to the variability in future cash flows for a maximum period of approximately three years. A significant portion of the forward and option contracts outstanding as of September 30, 2018 is scheduled to mature within the next 12 months. The effective portion of the gain or loss on the derivative instruments is initially recorded as a component of other comprehensive (loss) income, a separate component of equity, and subsequently reclassified into earnings in the same line item as the related forecasted transaction and in the same period or periods during which the hedged exposure affects earnings. The cash flow hedges are evaluated for effectiveness at least quarterly. As the critical terms of the forward contract or option and the hedged transaction are matched at inception, the hedge effectiveness is assessed generally based on changes in the fair value for cash flow hedges, as compared to the changes in the fair value of the cash flows associated with the underlying hedged transactions. Hedge ineffectiveness, if any, and hedge components, such as time value, excluded from assessment of effectiveness testing for hedges of estimated revenue from customers, are recognized immediately in interest and other (expense) income, net. The effect of the Company’s cash flow hedging instruments in the consolidated statements of income for the fiscal years ended September 30, 2018, 2017 and 2016, respectively, which partially offsets the foreign currency impact from the underlying exposures, is summarized as follows: Gains (Losses) Reclassified from 2018 2017 2016 Line item in consolidated statements of income: Revenue $ (1,129 ) $ (1,021 ) $ (192 ) Cost of revenue 15,877 21,783 (2,131 ) Research and development 3,127 4,282 (643 ) Selling, general and administrative 3,462 3,305 (1,175 ) Total $ 21,337 $ 28,349 $ (4,141 ) The activity related to the changes in net unrealized (losses) gains on cash flow hedges recorded in accumulated other comprehensive (loss) income, net of tax, is as follows: Year Ended September 30, 2018 2017 2016 Net unrealized gain (loss) on cash flow hedges, net of tax, beginning of period $ 24,508 $ 12,514 $ (12,152 ) Changes in fair value of cash flow hedges, net of tax (31,908 ) 36,765 20,911 Reclassification of (gain) loss into earnings, net of tax (19,208 ) (24,771 ) 3,755 Net unrealized (loss) gain on cash flow hedges, net of tax, end of period $ (26,608 ) $ 24,508 $ 12,514 Net unrealized gain (loss) from cash flow hedges recognized in other comprehensive (loss) income were ($34,260), $39,692 and $27,578, or ($31,908), $36,765 and $20,911, net of taxes, during the fiscal years ended September 30, 2018, 2017 and 2016, respectively. Of the net gains related to derivatives designated as cash flow hedges and recorded in accumulated other comprehensive (loss) income as of September 30, 2018, a net loss of ($16,592) will be reclassified into earnings during fiscal 2019 and will partially offset the foreign currency impact from the underlying exposures. The amount ultimately realized in earnings will likely differ due to future changes in foreign exchange rates. The ineffective portion of the change in fair value of a cash flow hedge, including the time value portion excluded from effectiveness testing for the fiscal years ended September 30, 2018, 2017 and 2016, was not material. Cash flow hedges are required to be discontinued in the event it becomes probable that the underlying forecasted hedged transaction will not occur. The Company did not discontinue any cash flow hedges during any of the periods presented nor does the Company anticipate any such discontinuance in the normal course of business. Other Risk Management Derivatives The Company also enters into foreign currency exchange forward and option contracts that are not designated as hedging instruments under hedge accounting and are used to reduce the impact of foreign currency on certain balance sheet exposures and certain revenue and expense transactions. These instruments are generally short-term in nature, with typical maturities of less than 12 months, and are subject to fluctuations in foreign exchange rates. The effect of the Company’s derivative instruments not designated as hedging instruments in the consolidated statements of income for the fiscal years ended September 30, 2018, 2017 and 2016, respectively, which partially offsets the foreign currency impact from the underlying exposure, is summarized as follows: (Losses) Gains 2018 2017 2016 Line item in statements of income: Revenue $ — $ — $ (67 ) Cost of revenue (4,577 ) 4,639 2,187 Research and development (736 ) 957 284 Selling, general and administrative (950 ) 1,723 560 Interest and other (expense) income, net 7,038 (10,514 ) (9,674 ) Income taxes 1,581 (1,653 ) (1,076 ) Total $ 2,356 $ (4,848 ) $ (7,786 ) |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Accounts Receivable, Net | Note 7 — Accounts Receivable, Net Accounts receivable, net consists of the following: As of September 30, 2018 2017 Accounts receivable — billed $ 728,716 $ 664,099 Accounts receivable — unbilled 263,997 229,695 Less — allowances (21,211 ) (28,726 ) Accounts receivable, net $ 971,502 $ 865,068 |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Sep. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Note 8 — Property and Equipment, Net The components of property and equipment, net are: As of September 30, 2018 2017 Computers, related equipment and software $ 1,027,825 $ 978,040 Building and land 97,782 — Leasehold improvements 222,812 213,166 Furniture, fixtures and other 43,518 56,324 Property and equipment, gross 1,391,937 1,247,530 Less accumulated depreciation (895,352 ) (891,845 ) Property and equipment, net $ 496,585 $ 355,685 Total depreciation expense for fiscal years 2018, 2017 and 2016, was $105,439, $105,027 and $113,717, respectively. As of September 30, 2018, and 2017, the unamortized software assets developed for internal use were $152,366 and $127,080, respectively, and are presented under Computer equipment in the table above. In fiscal year 2018, the Company purchased a land and capitalized costs related to the new building, see also Note 2. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 12 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | Note 9 — Goodwill and Intangible Assets, Net The following table presents details of the Company’s total goodwill: As of October 1, 2016 $ 2,211,639 Goodwill resulting from acquisitions 18,535 Other (8,965 ) As of September 30, 2017 2,221,209 Goodwill resulting from acquisitions(1) 227,283 Other (3,597 ) As of September 30, 2018 $ 2,444,895 (1) Mainly relates to the acquisitions of Vubiquity, projekt202 and UXP. In allocating the total preliminary purchase price for Vubiquity, based on estimated fair values, the Company recorded $146,912 of goodwill, $38,630 of customer relationships to be amortized over approximately nine years, $45,692 of core technology to be amortized over approximately five years, $10,104 of trade mark to be amortized over eight years. In allocating the total preliminary purchase price of projekt202, based on estimated fair values, the Company recorded $34,032 of goodwill and $19,835 of customer relationships to be amortized over four years. In allocating the total preliminary purchase price of UXP, based on estimated fair values, the Company recorded $41,468 of goodwill, $31,552 of core technology to be amortized over five years and $6,552 of customer relationships to be amortized over approximately five years. The Company performs an annual goodwill impairment test during the fourth quarter of each fiscal year, or more frequently if impairment indicators are present. The Company operates in one operating segment, and this segment comprises its only reporting unit. In calculating the fair value of the reporting unit, the Company uses its market capitalization and a discounted cash flow methodology. There was no impairment of goodwill in fiscal years 2018, 2017 or 2016. The following table presents details regarding the Company’s total definite-lived purchased intangible assets: Gross Accumulated Net September 30, 2018 Core technology $ 721,384 $ (576,936 ) $ 144,448 Customer relationships 563,656 (453,137 ) 110,519 Intellectual property rights and purchased computer software 51,996 (51,996 ) — Other 43,646 (33,364 ) 10,282 Total $ 1,380,682 $ (1,115,433 ) $ 265,249 September 30, 2017 Core technology $ 604,673 $ (513,501 ) $ 91,172 Customer relationships 497,296 (414,654 ) 82,642 Intellectual property rights and purchased computer software 51,996 (51,996 ) — Other 33,542 (30,030 ) 3,512 Total $ 1,187,507 $ (1,010,181 ) $ 177,326 The following table presents the amortization expense of the Company’s definite-lived purchased intangible assets, included in each financial statement caption reported in the consolidated statements of income: Year Ended September 30, 2018 2017 2016 Cost of revenue $ 572 $ 1,405 $ 1,609 Amortization of definite-lived purchased intangible assets 105,213 108,453 96,465 Total $ 105,785 $ 109,858 $ 98,074 The estimated future amortization expense of definite-lived purchased intangible assets as of September 30, 2018 is as follows: Amount Fiscal year: 2019 $ 92,693 2020 61,527 2021 42,554 2022 30,380 2023 14,682 Thereafter 23,413 Total $ 265,249 |
Non-recurring Charges
Non-recurring Charges | 12 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Non-recurring Charges | Note 10 — Non-recurring During fiscal year 2018 the Company incurred non-recurring |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 11 — Income Taxes The provision (benefit) for income taxes consists of the following: Year Ended September 30, 2018 2017 2016 Current $ 42,047 $ 69,535 $ 77,682 Deferred 25,098 6,551 (2,315 ) $ 67,145 $ 76,086 $ 75,367 All income taxes are from continuing operations reported by the Company in the applicable taxing jurisdiction. Income taxes also include anticipated withholding taxes due on subsidiaries’ earnings when paid as dividends to the Company. The Company maintained a tax receivable balance of $55,198 and $38,445 as of September 30, 2018 and 2017, respectively which is included in Prepaid expenses and other current assets. Deferred income taxes are comprised of the following components: As of September 30, 2018 2017 Deferred tax assets: Deferred revenue $ 30,596 $ 44,571 Employee compensation and benefits 72,218 87,204 Intangible assets, computer software and intellectual property 9,793 14,997 Tax credits, net capital and operating loss carryforwards 184,450 155,478 Other 49,732 78,114 Total deferred tax assets 346,789 380,364 Valuation allowances (112,727 ) (94,573 ) Total deferred tax assets, net 234,062 285,791 Deferred tax liabilities: Anticipated withholdings on subsidiaries’ earnings (68,394 ) (74,419 ) Intangible assets, computer software and intellectual property (114,094 ) (136,238 ) Other (31,750 ) (32,736 ) Total deferred tax liabilities (214,238 ) (243,393 ) Net deferred tax assets $ 19,824 $ 42,398 The effective income tax rate varied from the statutory Guernsey tax rate as follows: Year Ended September 30, 2018 2017 2016 Statutory Guernsey tax rate 0 % 0 % 0 % Foreign taxes(1) 15.9 14.8 15.5 Effective income tax rate 15.9 % 14.8 % 15.5 % As a Guernsey company subject to a corporate tax rate of zero percent, the Company’s overall effective tax rate is attributable to foreign taxes. The Company’s income before income tax expense is considered to be foreign income. (1) In fiscal year 2018, foreign taxes included a benefit of $9,564 due to conclusions of tax audits in certain jurisdictions, which resulted in an increase to the Company’s tax credits carryforwards and a reduction to the Company’s provision for gross unrecognized tax benefits. In addition, foreign taxes in fiscal year 2018 included a benefit of $18,022 that was attributable to the expiration of the periods set forth in statutes of limitations related to unrecognized tax benefits accumulated over several years in certain jurisdictions. Foreign taxes in fiscal year 2018 also included a tax expenses of $12,032 resulting from the creation of valuation allowances on deferred tax assets at certain of the Company’s subsidiaries, which may not be realized based on the Company’s projections of future taxable income. In addition, foreign taxes in fiscal year 2018 included a provisional expense of $2,321 relating to changes in tax law in the United States pursuant to SAB No. 118 (see Note 2). The provisional expense is attributable to deemed repatriation of foreign income partially offset by a benefit resulting from the re-evaluation As an indirect consequence to the changes in tax law in the United States the Company no longer makes a permanently reinvest assertion relating to one of its subsidiaries, therefore, a provisional tax liability of $4,059 was recorded related to the tax implications of remitting earnings that were previously asserted as permanently reinvested. During fiscal year 2018, as a result of funding decisions for the construction of the Company’s new campus in Israel, see also Note 2, the Company recorded a tax benefit of $28,795 related to the release of withholding and income tax reserves for unremitted earnings. In fiscal year 2017, foreign taxes included a benefit of $9,450 due to conclusions of tax audits in certain jurisdictions, which resulted in a reduction to the Company’s provision for gross unrecognized tax benefits. Foreign taxes in fiscal year 2017 also included a net benefit of $11,037 due to a reduction of taxes payable, partially offset by a reduction of deferred tax asset on operating loss carryforwards of certain of the Company’s subsidiaries resulting from internal structural changes in certain jurisdictions in which the Company operates. In addition, foreign taxes in fiscal year 2017 included a benefit of $28,774 that was attributable to the expiration of the periods set forth in statutes of limitations related to unrecognized tax benefits accumulated over several years in certain jurisdictions. Foreign taxes in fiscal year 2017 also included a benefit of $12,754 resulting from the release of valuation allowances on deferred tax assets at certain of the Company’s subsidiaries, which will, more likely than not, be realized due to the Company’s projections of future taxable income. During fiscal year 2018, the net increase in valuation allowances was $18,154, which related to the uncertainty of realizing tax benefits primarily for tax credits, net capital and operating loss carryforwards related to certain of the Company’s subsidiaries. As of September 30, 2018, the Company had tax credits, net capital and operating loss carryforwards of $894,997 of which $322,816 have expiration dates through 2038, and the remainder do not expire. During fiscal year 2017, the net decrease in valuation allowances was $2,297, which related to the uncertainty of realizing tax benefits primarily for tax credits, net capital and operating loss carryforwards related to certain of the Company’s subsidiaries. As of September 30, 2017, the Company had tax credits, net capital and operating loss carryforwards of $707,761, of which $180,882 have expiration dates through 2036, and the remainder do not expire. The aggregate changes in the balance of the Company’s gross unrecognized tax benefits were as follows: Year Ended September 30, 2018 2017 2016 Balance at beginning of fiscal year $ 193,024 $ 196,668 $ 126,706 Additions based on tax positions related to the current year 20,329 22,319 65,009 Additions (reduction) for tax positions of prior years (3,805 ) 12,261 41,183 Settlements with tax authorities (3,880 ) (9,450 ) (31,624 ) Lapse of statute of limitations (18,022 ) (28,774 ) (4,606 ) Balance at end of fiscal year $ 187,646 $ 193,024 $ 196,668 The total amount of unrecognized tax benefits, which includes interest and penalties, was $187,646 as of September 30, 2018, and $193,024 as of September 30, 2017, all of which would affect the effective tax rate if realized. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of September 30, 2018, the Company had accrued $30,807 in income taxes payable for interest and penalties relating to unrecognized tax benefits, of which $2,579 was recognized in the statements of income in fiscal year 2018, net of interest and penalty reversals. As of September 30, 2017, the Company had accrued $28,228 in income taxes payable for interest and penalties relating to unrecognized tax benefits, of which a benefit of $2,910 was recognized in the statements of income in fiscal year 2017, net of interest and penalty reversals. The Company is currently under audit in several jurisdictions for the tax years 2007 and onwards. Timing of the resolution of audits is highly uncertain and therefore, as of September 30, 2018, the Company cannot estimate the change in unrecognized tax benefits resulting from these audits within the next 12 months. It is reasonably possible that the amount of unrecognized tax benefits may decrease by $23,869 during fiscal year 2019 as a result of lapse of statutes of limitations in jurisdictions in which the Company operates. |
Repurchase of Shares
Repurchase of Shares | 12 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Repurchase of Shares | Note 12 — Repurchase of Shares From time to time, the Company’s Board of Directors can adopt share repurchase plans authorizing the repurchase of the Company’s outstanding ordinary shares. The Company’s Board of Directors adopted a share repurchase plan, on February 2, 2016, which authorized the repurchase of up to $750,000 of the Company’s outstanding ordinary shares with no expiration date. On November 8, 2017, the Company’s Board of Directors adopted another share repurchase plan for the repurchase of up to an additional $800,000 of the Company’s outstanding ordinary shares with no expiration date. In April 2018, the Company completed the repurchase of the remaining authorized amount of ordinary shares under the February 2016 plan and began executing repurchases under the November 2017 plan. In fiscal year 2018, the Company repurchased approximately 6,337 ordinary shares at an average price of $66.14 per share (excluding broker and transaction fees). The November 2017 plan permit the Company to purchase its ordinary shares in open market or privately negotiated transactions at times and prices that it considers appropriate. As of September 30, 2018, the Company had remaining authority to repurchase up to $637,127 of its outstanding ordinary shares under the November 2017 plan. |
Financing Arrangements
Financing Arrangements | 12 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | Note 13 — Financing Arrangements In December 2011, the Company entered into a $500,000 five-year revolving credit facility with a syndicate of banks. In December 2014 and in December 2017, the credit facility was amended and restated to, among other things, extend the maturity date of the facility to December 2019 and December 2022, respectively. The credit facility is available for general corporate purposes, including acquisitions and repurchases of ordinary shares that the Company may consider from time to time. The interest rate for borrowings under the revolving credit facility is chosen at the Company’s option from several pre-defined As of September 30, 2018, the Company had additional uncommitted lines of credit available for general corporate and other specific purposes and had outstanding letters of credit and bank guarantees from various banks totaling $53,891. These were supported by a combination of the uncommitted lines of credit that the Company maintains with various banks. |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Accrued Expenses and Other Current Liabilities | Note 14 — Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: As of September 30, 2018 2017 Ongoing accrued expenses $ 256,012 $ 242,918 Project-related provisions 155,739 227,049 Taxes payable 27,843 34,143 Dividends payable(1) 35,046 31,736 Derivative instruments(2) 20,821 5,685 Other 211,176 126,556 $ 706,637 $ 668,087 (1) The amounts payable as a result of the July 31, 2018 and the August 2, 2017 dividend declarations. See Note 19 to the consolidated financial statements. (2) Includes derivatives that are designated as hedging instruments and derivatives that are not designated as hedging instruments. See Note 6 to the consolidated financial statements. |
Interest and Other (Expense) In
Interest and Other (Expense) Income, Net | 12 Months Ended |
Sep. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Interest and Other (Expense) Income, Net | Note 15 — Interest and other (expense) income, net Interest and other (expense) income, net, consists of the following: Year Ended September 30, 2018 2017 2016 Interest income $ 6,602 $ 7,972 $ 6,815 Interest expense (2,764 ) (1,600 ) (1,667 ) Foreign exchange loss (6,173 ) (8,246 ) (1,998 ) Other, net (4,431 ) (2,547 ) (1,593 ) $ (6,766 ) $ (4,421 ) $ 1,557 |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies and Commitments | Note 16 — Contingencies and Commitments Commitments The Company leases office space and vehicles under non-cancelable non-cancelable For the year ended September 30, 2019 $ 75,159 2020 68,847 2021 57,903 2022 47,849 2023 20,670 Thereafter 23,459 $ 293,887 Rent expense net of sublease income was approximately $57,559, $55,480 and $53,164 for fiscal years 2018, 2017 and 2016, respectively. The Company had immaterial committed future sublease income as of September 30, 2018. Legal Proceedings The Company is involved in various legal claims and proceedings arising in the normal course of its business. The Company accrues for a loss contingency when it determines that it is probable, after consultation with counsel, that a liability has been incurred and the amount of such loss can be reasonably estimated. At this time, the Company believes that the results of any such contingencies, either individually or in the aggregate, will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. Since 2014, The Company has been defending a lawsuit against certain of its subsidiaries in the U.S. District Court in Oregon alleging breach of contract and trade secret misappropriation. According to the suit, the Company improperly utilized information received in connection with its electronic payment processing solution, which is one of several components of its mobile financial services offerings. During fiscal year 2016, the District Court denied the Company’s motions to dismiss and to compel arbitration with respect to certain of the claims, and the proceedings continued. The District Court scheduled a tentative jury trial date for late October 2018. The Company filed a motion for summary judgment with the District Court during fiscal year 2018 and the District Court partially granted the motion with respect to two trade secrets. In October 2018, while continuing to deny the plaintiff’s allegations, the Company entered into a settlement agreement with the plaintiff, which included a $50,000 settlement payment by the Company, in consideration for a mutual release of each party and its respective customers with no admission of liability or fault. As a result of the settlement, the lawsuit was dismissed with prejudice on November 13, 2018. In addition to the settlement amount of $50,000, the Company also accrued legal fees and other associated costs of $5,000. Certain of the Company’s subsidiaries are currently in a dispute with a state-owned telecom enterprise in Ecuador, which appears to have political aspects. The Company’s counterparty has claimed monetary damages. The dispute is over a contract, under which the Company was providing certain services, which has been terminated by the counterparty in connection with such dispute and which is under scrutiny by certain local governmental authorities. The Company believes it has solid arguments and is vigorously defending its rights. To date, however, such defense efforts, including motions alleging constitutional defects, have encountered a dismissive approach by the Ecuadorian Courts, with reasoning that the Company believes is inconsistent with applicable law. The Company is unable to reasonably estimate the ultimate outcome of the above dispute. Guarantor’s Accounting and Disclosure Requirements for Guarantees In the ordinary course of its business, the Company provides certain customers with financial performance guarantees which, in certain cases, are backed by lines of credit. The Company is only liable for the amounts of those guarantees in the event of the Company’s nonperformance, which would permit the customer to exercise the guarantee. The Company generally offers its products with a limited warranty. The Company’s policy is to accrue for warranty costs, if needed, based on historical trends in product failure. Based on the Company’s experience, only minimal warranty charges have been incurred after revenue was fully recognized and, as a result, the Company did not accrue any amounts for product warranty liability during fiscal years 2018, 2017 and 2016. The Company generally indemnifies its customers against claims made by third parties arising from the use of the Company’s software and certain other matters. To date, the Company has incurred and recorded immaterial costs as a result of such obligations in its consolidated financial statements. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Employee Benefits | Note 17 — Employee Benefits The Company accrues severance pay for the employees of its Israeli operations in accordance with Israeli law and certain employment procedures on the basis of the latest monthly salary paid to these employees and the length of time that they have worked for the Israeli operations. The severance pay liability amounted to $258,262 and $267,713 as of September 30, 2018 and 2017, respectively, and is included as accrued employee costs in other noncurrent liabilities. This liability is partially funded by amounts on deposit with insurance companies that totaled $202,230 and $206,054 as of September 30, 2018 and 2017, respectively, and are included in other noncurrent assets. The accrued severance expenses were $28,472, $32,908 and $34,165 for fiscal years 2018, 2017 and 2016, respectively. The Company sponsors defined contribution plans covering certain of its employees around the world. The plans primarily provide for Company matching contributions based upon a percentage of the employees’ contributions. The Company’s contributions in fiscal years 2018, 2017 and 2016 under such plans were not material compared to total operating expenses. The Company maintains non-contributory pro-rated non-contributory |
Stock Option and Incentive Plan
Stock Option and Incentive Plan | 12 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Option and Incentive Plan | Note 18 — Stock Option and Incentive Plan In January 1998, the Company adopted the 1998 Stock Option and Incentive Plan, or Equity Incentive Plan, which provides for the grant of restricted stock awards, stock options and other equity-based awards to employees, officers, directors, and consultants. Since its adoption, the Equity Incentive Plan has been amended on several occasions to, among other things, increase the number of ordinary shares issuable under the Equity Incentive Plan. In January 2017, the maximum number of ordinary shares authorized by the Company’s Board of Directors to be granted under the Equity Incentive Plan was increased from 62,300 to 67,550. The issuance of such additional shares was registered with the SEC in February 2018. Awards granted under the Equity Incentive Plan generally vest over a period of three to four years and stock options have a term of ten years. The following table summarizes information about options to purchase the Company ’ Number of Weighted Average Outstanding as of October 1, 2017 6,957 $ 49.52 Granted 1,826 65.94 Exercised (1,800 ) 45.16 Forfeited (566 ) 56.90 Outstanding as of September 30, 2018(1) 6,418 $ 54.76 Exercisable as of September 30, 2018(1) 2,323 $ 45.03 (1) As of September 30, 2018, the weighted average remaining contractual life of outstanding and exercisable options was 7.36 and 5.67 years, respectively. The following table summarizes information relating to awards of restricted shares, as well as changes during the fiscal year ended September 30, 2018: Number of Weighted Average Outstanding as of October 1, 2017 1,396 $ 55.55 Granted 431 65.33 Vested (670 ) 53.61 Forfeited (135 ) 57.62 Outstanding as of September 30, 2018 1,022 $ 60.68 The total intrinsic value of options exercised during fiscal years 2018, 2017 and 2016 was $38,025, $47,321 and $65,292, respectively. The value of restricted shares vested during fiscal years 2018, 2017 and 2016 was $35,801, $36,922 and $39,490, respectively. The aggregate intrinsic value of outstanding and exercisable stock options as of September 30, 2018 was $75,177 and $49,058, respectively. Employee equity-based compensation pre-tax Year Ended September 30, 2018 2017 2016 Cost of revenue $ 18,253 $ 19,215 $ 18,249 Research and development 3,476 3,536 3,742 Selling, general and administrative 25,747 21,788 20,709 Total $ 47,476 $ 44,539 $ 42,700 The total income tax benefit recognized in the consolidated statements of income for stock-based compensation (including restricted shares) for fiscal years 2018, 2017 and 2016 was $6,047, $4,754 and $4,503, respectively. As of September 30, 2018, there was $34,975 of unrecognized compensation expense related to unvested stock options and unvested restricted shares. The Company recognizes compensation costs using the graded vesting attribution method, which results in a weighted average period of approximately one year over which the unrecognized compensation expense is expected to be recognized. The fair value of options granted was estimated on the date of grant using the Black-Scholes pricing model with the assumptions noted in the following table (all in weighted averages for options granted during the year): Year Ended September 30, 2018 2017 2016 Risk-free interest rate(1) 2.30 % 1.63 % 1.40 % Expected life of stock options(2) 4.50 4.50 4.50 Expected volatility(3) 15.0 % 16.2 % 18.5 % Expected dividend yield(4) 1.51 % 1.47 % 1.40 % Fair value per option $ 8.70 $ 7.62 $ 7.97 (1) Risk-free interest rate is based upon U.S. Treasury yield curve appropriate for the term of the Company’s employee stock options. (2) Expected life of stock options is based upon historical experience. (3) Expected volatility is based on blended volatility. See Note 2 to the consolidated financial statements. (4) Expected dividend yield is based on the Company’s history and future expectation of dividend payouts. |
Dividends
Dividends | 12 Months Ended |
Sep. 30, 2018 | |
Other Liabilities Disclosure [Abstract] | |
Dividends | Note 19 — Dividends The Company’s Board of Directors declared the following dividends during the fiscal years ended September 30, 2018, 2017 and 2016: Declaration Date Dividends Per Record Date Total Amount Payment Date July 31, 2018 $ 0.250 September 28, 2018 $ 35,046 October 19, 2018 May 10, 2018 $ 0.250 June 29, 2018 $ 35,363 July 20, 2018 January 30, 2018 $ 0.250 March 30, 2018 $ 35,635 April 20, 2018 November 8, 2017 $ 0.220 December 29, 2017 $ 31,558 January 19, 2018 August 2, 2017 $ 0.220 September 29, 2017 $ 31,736 October 23, 2017 May 9, 2017 $ 0.220 June 30, 2017 $ 31,981 July 14, 2017 February 1, 2017 $ 0.220 March 31, 2017 $ 32,223 April 14, 2017 November 8, 2016 $ 0.195 December 30, 2016 $ 28,606 January 13, 2017 July 26, 2016 $ 0.195 September 30, 2016 $ 28,693 October 21, 2016 May 4, 2016 $ 0.195 June 30, 2016 $ 28,836 July 15, 2016 February 2, 2016 $ 0.195 March 31, 2016 $ 29,206 April 15, 2016 November 10, 2015 $ 0.170 December 31, 2015 $ 25,565 January 15, 2016 The amounts payable as a result of the July 31, 2018, August 2, 2017 and July 26, 2016 declarations were included in accrued expenses and other current liabilities as of September 30, 2018, 2017 and 2016, respectively. On November 8, 2018, the Company’s Board of Directors approved quarterly dividend payment of $0.25 per share, and set December 31, 2018 as the record date for determining the shareholders entitled to receive the dividend, which is payable on January 18, 2019. On November 8, 2018, the Company’s Board of Directors also approved, subject to shareholder approval at the January 2019 annual general meeting of shareholders, an increase in the quarterly cash dividend to $0.285 per share, anticipated to be paid in April 2019. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 20 — Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: Year Ended September 30, 2018 2017 2016 Numerator: Net income $ 354,396 $ 436,826 $ 409,331 Net income and dividends attributable to participating restricted shares (2,650 ) (3,517 ) (3,592 ) Numerator for basic earnings per common share $ 351,746 $ 433,309 $ 405,739 Undistributed income allocated to participating restricted shares 1,617 2,512 2,604 Undistributed income reallocated to participating restricted shares (1,603 ) (2,488 ) (2,569 ) Numerator for diluted earnings per common share $ 351,760 $ 433,333 $ 405,774 Denominator: Weighted average number of shares outstanding — basic 142,422 146,017 149,168 Weighted average number of participating restricted shares (1,065 ) (1,176 ) (1,309 ) Weighted average number of common shares — basic 141,357 144,841 147,859 Effect of assumed conversion of 0.5% convertible notes — — 5 Effect of dilutive stock options granted 1,282 1,414 2,002 Weighted average number of common shares — diluted 142,639 146,255 149,866 Basic earnings per common share $ 2.49 $ 2.99 $ 2.74 Diluted earnings per common share $ 2.47 $ 2.96 $ 2.71 For the fiscal years ended September 30, 2018, 2017 and 2016, 1,357, 1,281 and 1,785 shares, respectively, on a weighted average basis, were attributable to antidilutive outstanding stock options and therefore were not included in the calculation of diluted earnings per share. |
Segment Information and Sales t
Segment Information and Sales to Significant Customers | 12 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Segment Information and Sales to Significant Customers | Note 21 — Segment Information and Sales to Significant Customers The Company and its subsidiaries operate in one operating segment, providing software products and services for the communications, entertainment and media industry service providers. Geographic Information The following is a summary of revenue and long-lived assets by geographic area. Revenue is attributed to geographic region based on the location of the customers. Year Ended September 30, 2018 2017 2016 Revenue North America (mainly United States) $ 2,550,234 $ 2,546,290 $ 2,381,122 Europe 572,196 488,932 513,295 Rest of the world 852,407 831,933 823,812 Total $ 3,974,837 $ 3,867,155 $ 3,718,229 As of September 30, 2018 2017 Long-lived Assets(1) Europe $ 187,884 $ 151,794 North America 88,251 71,980 Rest of the world: Israel 161,726 66,628 India 37,239 43,118 Others 21,485 22,165 Total $ 496,585 $ 355,685 (1) Property and equipment, net. Revenue and Customer Information amdocsONE includes offerings in the domains of consumer experience and monetization, media and digital services, enterprise and connected society, service-driven networks and agile operations. It includes the Amdocs customer experience solutions (CES) portfolio and Amdocs Optima, as well as mobile financial services. amdocsONE also includes a comprehensive line of services such as advisory services, intelligent operations (managed services), autonomous network service assurance, digital business operations, quality engineering services (testing), and data and intelligence services. Directory includes comprehensive set of products and services mainly for media publishers. Total revenue consists of the following: Year Ended September 30, 2018 2017 2016 amdocsONE $ 3,930,186 $ 3,809,088 $ 3,629,698 Directory 44,651 58,067 88,531 Total $ 3,974,837 $ 3,867,155 $ 3,718,229 Sales to Significant Customers The Company had one customer, AT&T, which accounted for at least ten percent of its total revenue in each of fiscal years 2018, 2017 and 2016. The percentage of revenue from this customer out of total revenue during fiscal years 2018, 2017 and 2016 was 27%, 33% and 33%, respectively. |
Selected Quarterly Results of O
Selected Quarterly Results of Operations (Unaudited) | 12 Months Ended |
Sep. 30, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Results of Operations (Unaudited) | Note 22 — Selected Quarterly Results of Operations (Unaudited) The following are details of the unaudited quarterly results of operations for the three months ended: September 30, June 30, March 31, December 31, 2018 Revenue $ 1,002,588 $ 1,002,198 $ 992,340 $ 977,711 Operating income 68,819 105,518 131,827 122,143 Net income 44,266 91,530 101,727 116,873 Basic earnings per share 0.31 0.64 0.71 0.81 Diluted earnings per share 0.31 0.64 0.70 0.80 2017 Revenue $ 979,724 $ 966,695 $ 966,009 $ 954,727 Operating income 132,047 129,912 133,781 121,593 Net income 107,209 119,264 112,560 97,793 Basic earnings per share 0.74 0.82 0.77 0.67 Diluted earnings per share 0.73 0.81 0.76 0.66 |
Subsequent Event
Subsequent Event | 12 Months Ended |
Sep. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Event | Note 23 — Subsequent Event In October 2018, the Company settled a long-running legal dispute which was disclosed under the non-recurring charges in fiscal year 2018. In November 2018, the company paid this settlement in total amount of $50,000, see also Note 16. |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts | 12 Months Ended |
Sep. 30, 2018 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Valuation and Qualifying Accounts | VALUATION AND QUALIFYING ACCOUNTS (In thousands) Accounts Receivable Valuation Allowances on Balance as of October 1, 2015 $ 33,837 $ 112,165 Charged to costs and expenses 24,004 13,800 Charged to other accounts 1,415 826 Deductions (19,744 )(2) (29,921 )(1) Balance as of September 30, 2016 39,512 96,870 Charged to costs and expenses 17,282 16,425 Charged to other accounts 1,985 5,000 (3) Deductions (30,053 )(5) (23,722 )(4) Balance as of September 30, 2017 28,726 94,573 Charged to costs and expenses 6,134 18,173 Charged to other accounts 1,226 6,121 (3) Deductions (14,875 )(6) (6,140 ) Balance as of September 30, 2018 $ 21,211 $ 112,727 (1) $9,231 of valuation allowances on deferred tax assets were written off against the related deferred tax assets, and the remaining deductions in the valuation allowances on net deferred tax assets were released to earnings. (2) $12,727 of accounts receivable allowances were written off against the related accounts receivables, and the remaining deductions in the accounts receivable allowances were released to earnings. (3) Includes valuation allowances on deferred tax assets incurred in connection with an acquisition. (4) $2,416 of valuation allowances on deferred tax assets were written off against the related deferred tax assets, and the remaining deductions in the valuation allowances on net deferred tax assets were released to earnings. (5) $3,008 of accounts receivable allowances were written off against the related accounts receivables, $5,291 of accounts receivable allowances were netted against deferred revenue, and the remaining deductions in the accounts receivable allowances were released to earnings. (6) $6,659 of accounts receivable allowances were written off against the related accounts receivables, and the remaining deductions in the accounts receivable allowances were released to earnings. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles, or GAAP and are denominated in US Dollar unless indicated otherwise. |
Consolidation | Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, the vast majority of which are wholly-owned. All intercompany transactions and balances have been eliminated in consolidation. In December 2017, the Company entered into agreements with Union Investments and Development Limited (“Union”) to partner through a legal entity that is equally owned by the Company and Union for the purpose of acquiring specific land which the Company expects to use as the site for a new campus in Ra’anana, Israel. On January 2, 2018 the Company completed the acquisition of the land. Pursuant to the agreements between the Company and Union, as the Company has control over the construction and ongoing operations of the new campus, the new entity’s financial information is consolidated into the Company’s consolidated financial statements with the portion not owned classified as non-controlling |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Reclassifications | Reclassifications From time to time, certain immaterial amounts in prior year financial statements may be reclassified to conform to the current year presentation. |
Functional Currency | Functional Currency The Company manages its foreign subsidiaries as integral direct components of its operations. The operations of the Company’s foreign subsidiaries provide the same type of services with the same type of expenditures throughout the Amdocs group. The Company has determined that its functional currency is the U.S. dollar. The Company periodically assesses the applicability of the U.S. dollar as the Company’s functional currency by reviewing the salient indicators as indicated in the authoritative guidance for foreign currency matters. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash and interest-bearing investments with insignificant interest rate risk and maturities from acquisition date of 90 days or less. |
Accounts Receivable Factoring | Accounts Receivable Factoring From time to time, the Company uses non-recourse |
Investments | Investments The Company classifies all of its short-term interest-bearing investments as available-for-sale first-in-first-out |
Property and Equipment | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset, which primarily ranges from three to ten years. Leasehold improvements are amortized over the shorter of the estimated useful lives or the term of the related lease. Property and equipment that have been fully depreciated and are no longer in use are netted against accumulated depreciation. The Company capitalizes certain expenditures for software that is internally developed for use in the business, which is classified as computer equipment. Amortization of internal use software begins when the software is ready for service and continues on the straight-line method over the estimated useful life. The Company capitalizes the expenditures related to the new campus in Israel, which are classified as building and land. Amortization will begin when the new campus is ready for use and will be amortized on the straight-line basis over the estimated useful life. |
Goodwill, Intangible Assets and Long-Lived Assets | Goodwill, Intangible Assets and Long-Lived Assets Goodwill and intangible assets deemed to have indefinite lives are subject to an annual impairment test or more frequently if impairment indicators are present. Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value. The goodwill impairment test involves a two-step The total purchase price of business acquisitions accounted for using the purchase method is allocated first to identifiable assets and liabilities based on estimated fair values. The excess of the purchase price over the fair value of net assets of purchased businesses is recorded as goodwill. Other definite-life intangible assets consist primarily of core technology and customer relationships. Core technology acquired by the Company is amortized over its estimated useful life on a straight-line basis. Some of the acquired customer relationships are amortized over their estimated useful lives in proportion to the economic benefits realized. This accounting policy generally results in accelerated amortization of such customer relationships as compared to the straight-line method. All other acquired customer relationships are amortized over their estimated useful lives on a straight-line basis. The Company tests long-lived assets, including definite life intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability of long-lived assets is based on an estimate of the undiscounted future cash flows resulting from the use of the cash generating unit and its eventual disposition. Measurement of an impairment loss for long-lived assets, including definite life intangible assets that management expects to hold and use is based on the fair value of the cash generating unit. Long-lived assets, including definite life intangible assets, to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. |
Comprehensive Income | Comprehensive Income Comprehensive income, net of related taxes where applicable, includes, in addition to net income: (i) net change in fair value of available-for-sale (ii) net change in fair value of cash flow hedges; and (iii) net actuarial gains and losses on defined benefit plans. |
Treasury Stock | Treasury Stock The Company repurchases its ordinary shares from time to time on the open market or in other transactions and holds such shares as treasury stock. The Company presents the cost to repurchase treasury stock as a reduction of equity. |
Business Combinations | Business Combinations In accordance with business combinations accounting, assets acquired and liabilities assumed, as well as any contingent consideration that may be part of the acquisition agreement, are recorded at their respective fair values at the date of acquisition. For acquisitions that include contingent consideration, the fair value is estimated on the acquisition date as the present value of the expected contingent payments, determined using weighted probabilities of possible payments. The Company remeasures the fair value of the contingent consideration at each reporting period until the contingency is resolved. Except for measurement period adjustments, the changes in fair value are recognized in the consolidated statements of income. Any earn-out which is not considered a contingent consideration is recognized as compensation expense over expected service period. In accordance with business combinations accounting, the Company allocates the purchase price of acquired companies to the tangible and intangible assets acquired and liabilities assumed, as well as to in-process Although the Company believes the assumptions and estimates of fair value it has made in the past have been reasonable and appropriate, they are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain and subject to refinement. Critical estimates in valuing certain assets acquired and liabilities assumed include but are not limited to: future expected cash flows from license and service sales, maintenance, customer contracts and acquired developed technologies, expected costs to develop the in-process The Company estimates the fair values of its services, hardware, software license and maintenance obligations assumed. The estimated fair values of these performance obligations are determined utilizing a cost build-up build-up The Company may establish a valuation allowance for certain deferred tax assets and estimate the value of uncertain tax positions of a newly acquired entity. This process requires significant judgment and analysis. |
Income Taxes | Income Taxes The Company records deferred income taxes to reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and tax purposes. Deferred taxes are computed based on tax rates anticipated to be in effect when the deferred taxes are expected to be paid or realized. A valuation allowance is provided for deferred tax assets if it is more likely than not, the Company will not be able to realize their benefit. Deferred tax liabilities and assets are classified as noncurrent on the balance sheet. Deferred tax liabilities also include anticipated withholding taxes due on subsidiaries’ earnings when paid as dividends to the Company. The Company recognizes the tax benefit from an uncertain tax position only if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The tax benefits recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes. See Note 11 to the consolidated financial statements. |
Revenue Recognition | Revenue Recognition Revenue is recognized only when all of the following conditions have been met: (i) there is persuasive evidence of an arrangement; (ii) delivery has occurred; (iii) the fee is fixed or determinable; and (iv) collectability of the fee is reasonably assured. The Company usually sells its software licenses as part of an overall solution offered to a customer that combines the sale of software licenses with a broad range of services, which normally include significant customization, modification, implementation and integration. Those services are deemed essential to the software. As a result, revenue is generally recognized over the course of these projects, using the percentage of completion method of accounting, usually based on a percentage that incurred labor effort to date bears to total projected labor effort. When total cost estimates for these types of arrangements exceed revenues in a fixed-price arrangement, the estimated losses are recognized immediately based upon the cost applicable to the delivering unit. Significant judgment is required when estimating total labor effort and progress to completion on these arrangements, as well as whether a loss is expected to be incurred on the project. The Company evaluates contracts entered into at or near the same time with the same customer (or related parties of the customer) and determines if the contracts should be combined in accordance with the guidance for revenue recognition. Initial license fee for software revenue is recognized as work is performed, under the percentage of completion method of accounting. Contingent subsequent license fee revenue is recognized upon completion of specified conditions in each contract, based on a customer’s subscriber level or transaction volume or other measurements when greater than the level specified in the contract for the initial license fee. Revenue from sales of hardware that functions together with the software licenses to provide the essential functionality of the product and that includes significant customization, modification, implementation and integration, is recognized as work is performed, under the percentage of completion method of accounting. Revenue that involves significant ongoing obligations, including fees for software customization, modification, implementation and integration as part of a long-term contract, is recognized as work is performed, under the percentage of completion method of accounting. Revenue from software solutions that do not require significant customization, implementation and modification is recognized upon delivery. Revenue that does not involve significant ongoing obligations is recognized as services are rendered. Fees are generally considered fixed and determinable unless a significant portion (more than 10%) of the license and related service fee is due more than 12 months after delivery, in which case license and related services fees are recognized when payments are due. In managed services contracts and in other long-term contracts, revenue from the operation of a customer’s system is recognized either as services are performed based on time elapsed, output produced, volume of data processed or subscriber count, depending on the specific contract terms of the managed services arrangement. Typically, managed services contracts are long-term in duration and are not subject to seasonality. Revenue from ongoing support services is recognized as work is performed. Revenue from third-party hardware sales is recognized upon delivery and installation, and revenue from third-party software sales is recognized upon delivery. Revenue from third-party hardware and software sales is recorded at gross amount for transactions in which the Company is the primary obligor under the arrangement as well as, in some cases, possesses other attributes such as latitude in determining prices and selecting suppliers. In specific circumstances where the Company does not meet the above criteria, particularly when the contract stipulates that the Company is not the primary obligor, the Company recognizes revenue on a net basis. Revenue from third-party hardware and software sales was less than 10% of revenue in each of fiscal years 2018, 2017 and 2016. In certain arrangements, the Company may earn revenue from other third-party services which is recorded at a gross or net amount according to certain indicators. Maintenance revenue is recognized ratably over the term of the maintenance agreement, which in most cases is one year. As a result of a significant portion of the Company’s revenue being subject to the percentage of completion accounting method, the Company’s annual and quarterly operating results may be significantly affected by the size and timing of customer projects and the Company’s progress in completing such projects. Many of the Company’s agreements include multiple deliverables. The Company’s multiple element arrangements are comprised of a variety of different combinations of the deliverables mentioned above. For multiple element arrangements within the scope of software revenue recognition guidance, the Company allocates revenue to each element based upon its relative fair value as determined by Vendor Specific Objective Evidence (“VSOE”). In the absence of fair value for a delivered element the Company uses the residual method. The residual method requires that the Company first allocate revenue to the fair value of the undelivered elements and residual revenue to delivered elements. If VSOE of any undelivered items does not exist, revenue from the entire arrangement is deferred and recognized at the earlier of (i) delivery of those elements for which VSOE does not exist or (ii) when VSOE can be established. However, in limited cases where maintenance is the only undelivered element without VSOE, the entire arrangement fee is recognized ratably upon commencement of the maintenance services. The residual method is used mainly in multiple element arrangements that include license for the sale of software solutions that do not require significant customization, modification, implementation and integration and maintenance to determine the appropriate value for the license component. Under the guidance for revenue arrangements with multiple deliverables that are outside the scope of the software revenue recognition guidance, the Company allocates revenue to each element based upon the relative fair value. Fair value would be allocated by using a hierarchy of 1) VSOE, 2) third-party evidence of selling price for that element, or 3) estimated selling price, or ESP, for individual elements of an arrangement when VSOE or third-party evidence of selling price is unavailable. This results in the elimination of the residual method of allocating revenue consideration. The Company determines ESP for the purposes of allocating the consideration to individual elements of an arrangement by considering several external and internal factors including, but not limited to, pricing practices, margin objectives, geographies in which the Company offers its services and internal costs. The determination of ESP is judgmental and is made through consultation with and approval by management. In certain circumstances where the Company enters into a contract with a customer for the provision of managed services for a defined period of time, the Company defers certain direct costs incurred at the inception of the contract. These costs include expenses incurred in association with the origination of a contract. In addition, if the revenue for a delivered item is not recognized because it is not separable from the undelivered item, then the Company also defers the cost of the delivered item. The deferred costs are amortized on a straight-line basis over the managed services period, or over the recognition period of the undelivered item. Revenue associated with these capitalized costs is deferred and is recognized over the same period. Deferred revenue represents billings to customers for licenses and services for which revenue has not been recognized. Deferred revenue that is expected to be recognized beyond the next 12 months is considered long-term deferred revenue. Unbilled accounts receivable include all revenue amounts that had not been billed as of the balance sheet date due to contractual or other arrangements with customers. Unbilled accounts receivable that are expected to be billed beyond the next 12 months are considered long-term unbilled receivables. Billed accounts receivables include all outstanding invoices to customers, as well as amounts allowed to be billed according to contractual or other arrangements with customers. |
Cost of Revenue | Cost of Revenue Cost of revenue consists of all costs associated with providing software licenses and services to customers, including identified losses on contracts. Estimated losses on contracts accounted for using the percentage of completion method of accounting are recognized in the period in which the loss is identified. Cost of revenue includes license fees and royalty payments to software suppliers. Cost of revenue also includes costs of third-party products associated with selling third-party computer hardware and software products to customers and other third-party services, when the related revenue is recorded at the gross amount. Customers purchasing third-party products and services from the Company generally do so in conjunction with the purchase of the Company’s software and services. |
Research and Development | Research and Development Research and development expenditures consist of costs incurred in the development of new software modules and product offerings, either as part of the Company’s internal product development programs, which are sold, leased or otherwise marketed. Research and development costs are expensed as incurred. Based on the Company’s product development process, technological feasibility is established upon completion of a detailed program design or, in the absence thereof, completion of a working model. Costs incurred by the Company after achieving technological feasibility and before the product is ready for customer release have been insignificant. |
Equity-Based Compensation | Equity-Based Compensation The Company measures and recognizes the compensation expense for all equity-based payments to employees and directors based on their estimated fair values. The Company estimates the fair value of employee stock options at the date of grant using a Black-Scholes valuation model and values restricted stock based on the market value of the underlying shares at the date of grant. The Company recognizes compensation costs using the graded vesting attribution method that results in an accelerated recognition of compensation costs in comparison to the straight-line method. The Company uses a combination of implied volatility of the Company’s traded options and historical stock price volatility (“blended volatility”) as the expected volatility assumption required in the Black-Scholes option valuation model. As equity-based compensation expense recognized in the Company’s consolidated statements of income is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. |
Concentrations of Credit Risk | Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents, short-term interest-bearing investments, and trade receivables. Cash and cash equivalents are maintained with several financial institutions. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple financial institutions and monitoring the risk profiles of these counterparties. The Company has conservative investment policy guidelines under which it invests its excess cash primarily in highly liquid U.S. dollar-denominated securities. The Company’s revenue is generated primarily in North America. To a lesser extent, revenue is generated in Europe and the rest of the world. Most of the Company’s customers are among the largest communications and media companies in the world (or are owned by them). The Company’s business is subject to the effects of general global economic conditions and market conditions in the communications industry. The Company performs ongoing credit analyses of its customer base and generally does not require collateral. The Company evaluates accounts receivable to determine if they will ultimately be collected. Significant judgments and estimates are involved in performing this evaluation, which are based on factors that may affect a customer’s ability to pay, such as past experience, credit quality of the customer, age of the receivable balance and current economic conditions. The allowance for doubtful accounts is for estimated losses resulting from accounts receivable for which their collection is not reasonably probable. As of September 30, 2018, the Company had one customer with an accounts receivable balance of more than 10% of total accounts receivable, amounting to 19%, which was lower than its respective portion of total revenue. As of September 30, 2017, the Company had one customer with an accounts receivable balance of more than 10% of total accounts receivable, amounting to 27%, which was lower than its respective portion of total revenue. |
Earnings per Share | Earnings per Share Basic earnings per share is calculated using the weighted average number of shares outstanding during the period. Diluted earnings per share is computed on the basis of the weighted average number of shares outstanding and the effect of dilutive outstanding equity-based awards using the treasury stock method. The Company includes participating securities (unvested restricted shares that contain non-forfeitable two-class |
Derivatives and Hedging | Derivatives and Hedging The Company carries out transactions involving foreign currency exchange derivative financial instruments. The transactions are designed to hedge the Company’s exposure in currencies other than the U.S. dollar. The Company recognizes derivative instruments as either assets or liabilities and measures those instruments at fair value. If a derivative meets the definition of a cash flow hedge and is so designated, changes in the fair value of the derivative are recognized in other comprehensive (loss) income until the hedged item is recognized in earnings. The ineffective portion of a derivative designated as a cash flow hedge is recognized in earnings. If a derivative does not meet the definition of a cash flow hedge, the changes in the fair value are included in earnings. |
Recent Accounting Standards | Recent Accounting Standards In November 2018, the Financial Accounting Standards Board, or FASB issued an ASU No. 2018-18 , “Collaborative Arrangements In August 2018, the Financial Accounting Standards Board, or FASB issued an ASU No. 2018-15 , “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract”. internal-use In August 2018, the Financial Accounting Standards Board, or FASB issued an ASU No. 2018-13 , “ ”. In August 2018, the FASB issued an ASU No. 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans” In June 2018, the FASB issued an ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting ” In December 2017, SEC issued Staff Accounting Bulletin No. 118 (“SAB No. 118”) due to the new tax legislation in the United States (The Tax Cuts and Jobs Act or “The Act”) which allows the Company to record provisional amounts during a one-year one-time one-time In August 2017, the FASB issued an ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities ” In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business In August 2016, the FASB issued an ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments ” . In June 2016, the FASB issued an ASU 2016-13, Measurement of Credit Losses on Financial Instruments ” off-balance In February 2016, the FASB issued an ASU 2016-02, “Leases”. In January 2016, the FASB issued an ASU 2016-01, Financial Instruments – Overall ” In May 2014, the FASB issued an ASU 2014-09, Revenue from Contracts with Customers”. |
Adoption of New Accounting Standards | Adoption of New Accounting Standards In March 2016, the FASB issued an ASU 2016-09, Compensation—Stock Compensation” In September 2015, the FASB issued an ASU 2015-16, Business combination |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement on Company's Assets and Liabilities | The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and 2017: As of September 30, 2018 Level 1 Level 2 Level 3 Total Available-for-sale Corporate bonds $ — $ 47,531 $ — $ 47,531 Money market funds 30,883 — — 30,883 U.S. government treasuries 23,258 — — 23,258 U.S. agency securities — 16,033 — 16,033 Asset backed obligations — 9,177 — 9,177 Supranational and sovereign debt — 4,434 — 4,434 Total available-for-sale 54,141 77,175 — 131,316 Derivative financial instruments, net — (27,842 ) — (27,842 ) Other liabilities — — (37,954 ) (37,954 ) Total $ 54,141 $ 49,333 $ (37,954 ) $ 65,520 As of September 30, 2017 Level 1 Level 2 Level 3 Total Available-for-sale Corporate bonds $ — $ 98,385 $ — $ 98,385 U.S. government treasuries 84,363 — — 84,363 U.S. agency securities — 60,646 — 60,646 Money market funds 52,504 — — 52,504 Asset backed obligations — 47,074 — 47,074 Commercial paper and certificates of deposit — 33,448 — 33,448 Supranational and sovereign debt — 8,777 — 8,777 Total available-for-sale 136,867 248,330 — 385,197 Derivative financial instruments, net — 27,352 — 27,352 Other liabilities — — (21,972 ) (21,972 ) Total $ 136,867 $ 275,682 $ (21,972 ) $ 390,577 |
Available-For-Sale Securities (
Available-For-Sale Securities (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Interest-Bearing Investments in Available-for-Sale Securities | Available-for-sale As of September 30, 2018 Amortized Gross Gross Fair Value Corporate bonds $ 48,252 $ — $ 721 $ 47,531 Money market funds 30,883 — — 30,883 U.S. government treasuries 23,656 — 398 23,258 U.S. agency securities 16,297 — 264 16,033 Asset backed obligations 9,312 — 135 9,177 Supranational and sovereign debt 4,508 — 74 4,434 Total(1) $ 132,908 $ — $ 1,592 $ 131,316 (1) Available-for-sale available-for-sale As of September 30, 2017 Amortized Gross Gross Fair Value Corporate bonds $ 98,367 $ 176 $ 158 $ 98,385 U.S. government treasuries 84,558 — 195 84,363 U.S. agency securities 60,794 — 148 60,646 Money market funds 52,504 — — 52,504 Asset backed obligations 47,108 — 34 47,074 Commercial paper and certificates of deposit 33,448 — — 33,448 Supranational and sovereign debt 8,819 — 42 8,777 Total(1) $ 385,598 $ 176 $ 577 $ 385,197 (1) Available-for-sale available-for-sale |
Available-for-Sale Securities Debt Maturities Market Value | As of September 30, 2018, the Company’s available-for-sale Market Value Due within one year $ 63,069 1 to 2 years 44,615 2 to 3 years 20,255 3 to 4 years 2,382 Thereafter 995 $ 131,316 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of Derivative Instruments | The table below presents the total volume or notional amounts of the Company’s derivative instruments as of September 30, 2018. Notional values are in U.S. dollars and are translated and calculated based on forward rates as of September 30, 2018 for forward contracts, and based on spot rates as of September 30, 2018 for options. Notional Value* Foreign exchange contracts $ 1,147,934 (*) Gross notional amounts do not quantify risk or represent assets or liabilities of the Company but are used in the calculation of settlements under the contracts. |
Fair Value of Open Foreign Currency Exchange Contracts | The fair value of the open foreign exchange contracts recorded as an asset or a liability by the Company on its consolidated balance sheets as of September 30, 2018 and September 30, 2017, is as follows: As of September 30, 2018 2017 Derivatives designated as hedging instruments Prepaid expenses and other current assets $ 221 $ 30,141 Other noncurrent assets 25 1,091 Accrued expenses and other current liabilities (17,681 ) (2,317 ) Other noncurrent liabilities (10,030 ) (1,035 ) (27,465 ) 27,880 Derivatives not designated as hedging instruments Prepaid expenses and other current assets 2,758 2,840 Accrued expenses and other current liabilities (3,135 ) (3,368 ) (377 ) (528 ) Net fair value $ (27,842 ) $ 27,352 |
Effect of Cash Flow Hedging Instruments | The effect of the Company’s cash flow hedging instruments in the consolidated statements of income for the fiscal years ended September 30, 2018, 2017 and 2016, respectively, which partially offsets the foreign currency impact from the underlying exposures, is summarized as follows: Gains (Losses) Reclassified from 2018 2017 2016 Line item in consolidated statements of income: Revenue $ (1,129 ) $ (1,021 ) $ (192 ) Cost of revenue 15,877 21,783 (2,131 ) Research and development 3,127 4,282 (643 ) Selling, general and administrative 3,462 3,305 (1,175 ) Total $ 21,337 $ 28,349 $ (4,141 ) |
Changes in Net Unrealized (Losses) Gains on Cash Flow Hedges | The activity related to the changes in net unrealized (losses) gains on cash flow hedges recorded in accumulated other comprehensive (loss) income, net of tax, is as follows: Year Ended September 30, 2018 2017 2016 Net unrealized gain (loss) on cash flow hedges, net of tax, beginning of period $ 24,508 $ 12,514 $ (12,152 ) Changes in fair value of cash flow hedges, net of tax (31,908 ) 36,765 20,911 Reclassification of (gain) loss into earnings, net of tax (19,208 ) (24,771 ) 3,755 Net unrealized (loss) gain on cash flow hedges, net of tax, end of period $ (26,608 ) $ 24,508 $ 12,514 |
Effect of Non-Designated as Hedging Instruments | The effect of the Company’s derivative instruments not designated as hedging instruments in the consolidated statements of income for the fiscal years ended September 30, 2018, 2017 and 2016, respectively, which partially offsets the foreign currency impact from the underlying exposure, is summarized as follows: (Losses) Gains 2018 2017 2016 Line item in statements of income: Revenue $ — $ — $ (67 ) Cost of revenue (4,577 ) 4,639 2,187 Research and development (736 ) 957 284 Selling, general and administrative (950 ) 1,723 560 Interest and other (expense) income, net 7,038 (10,514 ) (9,674 ) Income taxes 1,581 (1,653 ) (1,076 ) Total $ 2,356 $ (4,848 ) $ (7,786 ) |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Accounts Receivable, Net | Accounts receivable, net consists of the following: As of September 30, 2018 2017 Accounts receivable — billed $ 728,716 $ 664,099 Accounts receivable — unbilled 263,997 229,695 Less — allowances (21,211 ) (28,726 ) Accounts receivable, net $ 971,502 $ 865,068 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Components of Property and Equipment, Net | The components of property and equipment, net are: As of September 30, 2018 2017 Computers, related equipment and software $ 1,027,825 $ 978,040 Building and land 97,782 — Leasehold improvements 222,812 213,166 Furniture, fixtures and other 43,518 56,324 Property and equipment, gross 1,391,937 1,247,530 Less accumulated depreciation (895,352 ) (891,845 ) Property and equipment, net $ 496,585 $ 355,685 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Details of Total Goodwill | The following table presents details of the Company’s total goodwill: As of October 1, 2016 $ 2,211,639 Goodwill resulting from acquisitions 18,535 Other (8,965 ) As of September 30, 2017 2,221,209 Goodwill resulting from acquisitions(1) 227,283 Other (3,597 ) As of September 30, 2018 $ 2,444,895 (1) Mainly relates to the acquisitions of Vubiquity, projekt202 and UXP. In allocating the total preliminary purchase price for Vubiquity, based on estimated fair values, the Company recorded $146,912 of goodwill, $38,630 of customer relationships to be amortized over approximately nine years, $45,692 of core technology to be amortized over approximately five years, $10,104 of trade mark to be amortized over eight years. In allocating the total preliminary purchase price of projekt202, based on estimated fair values, the Company recorded $34,032 of goodwill and $19,835 of customer relationships to be amortized over four years. In allocating the total preliminary purchase price of UXP, based on estimated fair values, the Company recorded $41,468 of goodwill, $31,552 of core technology to be amortized over five years and $6,552 of customer relationships to be amortized over approximately five years. |
Details Regarding Total Definite-Lived Purchased Intangible Assets | The following table presents details regarding the Company’s total definite-lived purchased intangible assets: Gross Accumulated Net September 30, 2018 Core technology $ 721,384 $ (576,936 ) $ 144,448 Customer relationships 563,656 (453,137 ) 110,519 Intellectual property rights and purchased computer software 51,996 (51,996 ) — Other 43,646 (33,364 ) 10,282 Total $ 1,380,682 $ (1,115,433 ) $ 265,249 September 30, 2017 Core technology $ 604,673 $ (513,501 ) $ 91,172 Customer relationships 497,296 (414,654 ) 82,642 Intellectual property rights and purchased computer software 51,996 (51,996 ) — Other 33,542 (30,030 ) 3,512 Total $ 1,187,507 $ (1,010,181 ) $ 177,326 |
Amortization Expense on Definite-Lived Intangible Assets | The following table presents the amortization expense of the Company’s definite-lived purchased intangible assets, included in each financial statement caption reported in the consolidated statements of income: Year Ended September 30, 2018 2017 2016 Cost of revenue $ 572 $ 1,405 $ 1,609 Amortization of definite-lived purchased intangible assets 105,213 108,453 96,465 Total $ 105,785 $ 109,858 $ 98,074 |
Estimated Future Amortization Expense | The estimated future amortization expense of definite-lived purchased intangible assets as of September 30, 2018 is as follows: Amount Fiscal year: 2019 $ 92,693 2020 61,527 2021 42,554 2022 30,380 2023 14,682 Thereafter 23,413 Total $ 265,249 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Provision (Benefit) for Income Taxes | The provision (benefit) for income taxes consists of the following: Year Ended September 30, 2018 2017 2016 Current $ 42,047 $ 69,535 $ 77,682 Deferred 25,098 6,551 (2,315 ) $ 67,145 $ 76,086 $ 75,367 |
Components of Deferred Tax Assets and Liabilities | Deferred income taxes are comprised of the following components: As of September 30, 2018 2017 Deferred tax assets: Deferred revenue $ 30,596 $ 44,571 Employee compensation and benefits 72,218 87,204 Intangible assets, computer software and intellectual property 9,793 14,997 Tax credits, net capital and operating loss carryforwards 184,450 155,478 Other 49,732 78,114 Total deferred tax assets 346,789 380,364 Valuation allowances (112,727 ) (94,573 ) Total deferred tax assets, net 234,062 285,791 Deferred tax liabilities: Anticipated withholdings on subsidiaries’ earnings (68,394 ) (74,419 ) Intangible assets, computer software and intellectual property (114,094 ) (136,238 ) Other (31,750 ) (32,736 ) Total deferred tax liabilities (214,238 ) (243,393 ) Net deferred tax assets $ 19,824 $ 42,398 |
Effective Income Tax Rate Varied from Statutory Guernsey Tax Rate | The effective income tax rate varied from the statutory Guernsey tax rate as follows: Year Ended September 30, 2018 2017 2016 Statutory Guernsey tax rate 0 % 0 % 0 % Foreign taxes(1) 15.9 14.8 15.5 Effective income tax rate 15.9 % 14.8 % 15.5 % As a Guernsey company subject to a corporate tax rate of zero percent, the Company’s overall effective tax rate is attributable to foreign taxes. The Company’s income before income tax expense is considered to be foreign income. (1) In fiscal year 2018, foreign taxes included a benefit of $9,564 due to conclusions of tax audits in certain jurisdictions, which resulted in an increase to the Company’s tax credits carryforwards and a reduction to the Company’s provision for gross unrecognized tax benefits. In addition, foreign taxes in fiscal year 2018 included a benefit of $18,022 that was attributable to the expiration of the periods set forth in statutes of limitations related to unrecognized tax benefits accumulated over several years in certain jurisdictions. Foreign taxes in fiscal year 2018 also included a tax expenses of $12,032 resulting from the creation of valuation allowances on deferred tax assets at certain of the Company’s subsidiaries, which may not be realized based on the Company’s projections of future taxable income. In addition, foreign taxes in fiscal year 2018 included a provisional expense of $2,321 relating to changes in tax law in the United States pursuant to SAB No. 118 (see Note 2). The provisional expense is attributable to deemed repatriation of foreign income partially offset by a benefit resulting from the re-evaluation As an indirect consequence to the changes in tax law in the United States the Company no longer makes a permanently reinvest assertion relating to one of its subsidiaries, therefore, a provisional tax liability of $4,059 was recorded related to the tax implications of remitting earnings that were previously asserted as permanently reinvested. During fiscal year 2018, as a result of funding decisions for the construction of the Company’s new campus in Israel, see also Note 2, the Company recorded a tax benefit of $28,795 related to the release of withholding and income tax reserves for unremitted earnings. In fiscal year 2017, foreign taxes included a benefit of $9,450 due to conclusions of tax audits in certain jurisdictions, which resulted in a reduction to the Company’s provision for gross unrecognized tax benefits. Foreign taxes in fiscal year 2017 also included a net benefit of $11,037 due to a reduction of taxes payable, partially offset by a reduction of deferred tax asset on operating loss carryforwards of certain of the Company’s subsidiaries resulting from internal structural changes in certain jurisdictions in which the Company operates. In addition, foreign taxes in fiscal year 2017 included a benefit of $28,774 that was attributable to the expiration of the periods set forth in statutes of limitations related to unrecognized tax benefits accumulated over several years in certain jurisdictions. Foreign taxes in fiscal year 2017 also included a benefit of $12,754 resulting from the release of valuation allowances on deferred tax assets at certain of the Company’s subsidiaries, which will, more likely than not, be realized due to the Company’s projections of future taxable income. |
Aggregate Changes in Balance of Company's Gross Unrecognized Tax Benefits | The aggregate changes in the balance of the Company’s gross unrecognized tax benefits were as follows: Year Ended September 30, 2018 2017 2016 Balance at beginning of fiscal year $ 193,024 $ 196,668 $ 126,706 Additions based on tax positions related to the current year 20,329 22,319 65,009 Additions (reduction) for tax positions of prior years (3,805 ) 12,261 41,183 Settlements with tax authorities (3,880 ) (9,450 ) (31,624 ) Lapse of statute of limitations (18,022 ) (28,774 ) (4,606 ) Balance at end of fiscal year $ 187,646 $ 193,024 $ 196,668 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consist of the following: As of September 30, 2018 2017 Ongoing accrued expenses $ 256,012 $ 242,918 Project-related provisions 155,739 227,049 Taxes payable 27,843 34,143 Dividends payable(1) 35,046 31,736 Derivative instruments(2) 20,821 5,685 Other 211,176 126,556 $ 706,637 $ 668,087 (1) The amounts payable as a result of the July 31, 2018 and the August 2, 2017 dividend declarations. See Note 19 to the consolidated financial statements. (2) Includes derivatives that are designated as hedging instruments and derivatives that are not designated as hedging instruments. See Note 6 to the consolidated financial statements. |
Interest and Other (Expense) _2
Interest and Other (Expense) Income, Net (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Interest and Other (Expense) Income, Net | Interest and other (expense) income, net, consists of the following: Year Ended September 30, 2018 2017 2016 Interest income $ 6,602 $ 7,972 $ 6,815 Interest expense (2,764 ) (1,600 ) (1,667 ) Foreign exchange loss (6,173 ) (8,246 ) (1,998 ) Other, net (4,431 ) (2,547 ) (1,593 ) $ (6,766 ) $ (4,421 ) $ 1,557 |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Non-Cancelable Lease Payments | Future minimum non-cancelable For the year ended September 30, 2019 $ 75,159 2020 68,847 2021 57,903 2022 47,849 2023 20,670 Thereafter 23,459 $ 293,887 |
Stock Option and Incentive Pl_2
Stock Option and Incentive Plan (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Option Activity | The following table summarizes information about options to purchase the Company ’ Number of Weighted Average Outstanding as of October 1, 2017 6,957 $ 49.52 Granted 1,826 65.94 Exercised (1,800 ) 45.16 Forfeited (566 ) 56.90 Outstanding as of September 30, 2018(1) 6,418 $ 54.76 Exercisable as of September 30, 2018(1) 2,323 $ 45.03 (1) As of September 30, 2018, the weighted average remaining contractual life of outstanding and exercisable options was 7.36 and 5.67 years, respectively. |
Summary of Restricted Shares Activity | The following table summarizes information relating to awards of restricted shares, as well as changes during the fiscal year ended September 30, 2018: Number of Weighted Average Outstanding as of October 1, 2017 1,396 $ 55.55 Granted 431 65.33 Vested (670 ) 53.61 Forfeited (135 ) 57.62 Outstanding as of September 30, 2018 1,022 $ 60.68 |
Employee Equity-Based Compensation Pre-Tax Expense | Employee equity-based compensation pre-tax Year Ended September 30, 2018 2017 2016 Cost of revenue $ 18,253 $ 19,215 $ 18,249 Research and development 3,476 3,536 3,742 Selling, general and administrative 25,747 21,788 20,709 Total $ 47,476 $ 44,539 $ 42,700 |
Assumptions Used in Calculating Fair Value of Options | The fair value of options granted was estimated on the date of grant using the Black-Scholes pricing model with the assumptions noted in the following table (all in weighted averages for options granted during the year): Year Ended September 30, 2018 2017 2016 Risk-free interest rate(1) 2.30 % 1.63 % 1.40 % Expected life of stock options(2) 4.50 4.50 4.50 Expected volatility(3) 15.0 % 16.2 % 18.5 % Expected dividend yield(4) 1.51 % 1.47 % 1.40 % Fair value per option $ 8.70 $ 7.62 $ 7.97 (1) Risk-free interest rate is based upon U.S. Treasury yield curve appropriate for the term of the Company’s employee stock options. (2) Expected life of stock options is based upon historical experience. (3) Expected volatility is based on blended volatility. See Note 2 to the consolidated financial statements. (4) Expected dividend yield is based on the Company’s history and future expectation of dividend payouts. |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Other Liabilities Disclosure [Abstract] | |
Summary of Dividends Declared by Board of directors | The Company’s Board of Directors declared the following dividends during the fiscal years ended September 30, 2018, 2017 and 2016: Declaration Date Dividends Per Record Date Total Amount Payment Date July 31, 2018 $ 0.250 September 28, 2018 $ 35,046 October 19, 2018 May 10, 2018 $ 0.250 June 29, 2018 $ 35,363 July 20, 2018 January 30, 2018 $ 0.250 March 30, 2018 $ 35,635 April 20, 2018 November 8, 2017 $ 0.220 December 29, 2017 $ 31,558 January 19, 2018 August 2, 2017 $ 0.220 September 29, 2017 $ 31,736 October 23, 2017 May 9, 2017 $ 0.220 June 30, 2017 $ 31,981 July 14, 2017 February 1, 2017 $ 0.220 March 31, 2017 $ 32,223 April 14, 2017 November 8, 2016 $ 0.195 December 30, 2016 $ 28,606 January 13, 2017 July 26, 2016 $ 0.195 September 30, 2016 $ 28,693 October 21, 2016 May 4, 2016 $ 0.195 June 30, 2016 $ 28,836 July 15, 2016 February 2, 2016 $ 0.195 March 31, 2016 $ 29,206 April 15, 2016 November 10, 2015 $ 0.170 December 31, 2015 $ 25,565 January 15, 2016 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share: Year Ended September 30, 2018 2017 2016 Numerator: Net income $ 354,396 $ 436,826 $ 409,331 Net income and dividends attributable to participating restricted shares (2,650 ) (3,517 ) (3,592 ) Numerator for basic earnings per common share $ 351,746 $ 433,309 $ 405,739 Undistributed income allocated to participating restricted shares 1,617 2,512 2,604 Undistributed income reallocated to participating restricted shares (1,603 ) (2,488 ) (2,569 ) Numerator for diluted earnings per common share $ 351,760 $ 433,333 $ 405,774 Denominator: Weighted average number of shares outstanding — basic 142,422 146,017 149,168 Weighted average number of participating restricted shares (1,065 ) (1,176 ) (1,309 ) Weighted average number of common shares — basic 141,357 144,841 147,859 Effect of assumed conversion of 0.5% convertible notes — — 5 Effect of dilutive stock options granted 1,282 1,414 2,002 Weighted average number of common shares — diluted 142,639 146,255 149,866 Basic earnings per common share $ 2.49 $ 2.99 $ 2.74 Diluted earnings per common share $ 2.47 $ 2.96 $ 2.71 |
Segment Information and Sales_2
Segment Information and Sales to Significant Customers (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Summary of Revenue by Geographic Area | The following is a summary of revenue and long-lived assets by geographic area. Revenue is attributed to geographic region based on the location of the customers. Year Ended September 30, 2018 2017 2016 Revenue North America (mainly United States) $ 2,550,234 $ 2,546,290 $ 2,381,122 Europe 572,196 488,932 513,295 Rest of the world 852,407 831,933 823,812 Total $ 3,974,837 $ 3,867,155 $ 3,718,229 |
Summary of Long-Lived Assets by Geographic Area | As of September 30, 2018 2017 Long-lived Assets(1) Europe $ 187,884 $ 151,794 North America 88,251 71,980 Rest of the world: Israel 161,726 66,628 India 37,239 43,118 Others 21,485 22,165 Total $ 496,585 $ 355,685 (1) Property and equipment, net. |
Revenue and Customer Information | Total revenue consists of the following: Year Ended September 30, 2018 2017 2016 amdocsONE solutions $ 3,930,186 $ 3,809,088 $ 3,629,698 Directory 44,651 58,067 88,531 Total $ 3,974,837 $ 3,867,155 $ 3,718,229 |
Selected Quarterly Results of_2
Selected Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Sep. 30, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations | The following are details of the unaudited quarterly results of operations for the three months ended: September 30, June 30, March 31, December 31, 2018 Revenue $ 1,002,588 $ 1,002,198 $ 992,340 $ 977,711 Operating income 68,819 105,518 131,827 122,143 Net income 44,266 91,530 101,727 116,873 Basic earnings per share 0.31 0.64 0.71 0.81 Diluted earnings per share 0.31 0.64 0.70 0.80 2017 Revenue $ 979,724 $ 966,695 $ 966,009 $ 954,727 Operating income 132,047 129,912 133,781 121,593 Net income 107,209 119,264 112,560 97,793 Basic earnings per share 0.74 0.82 0.77 0.67 Diluted earnings per share 0.73 0.81 0.76 0.66 |
Nature of Entity - Additional I
Nature of Entity - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2018Segment | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of operating segment | 1 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Consolidation and Property and Equipment - Additional Information (Detail) | 12 Months Ended |
Sep. 30, 2018 | |
Minimum [Member] | |
Property and Equipment [Line Items] | |
Estimated useful life of assets | 3 years |
Maximum [Member] | |
Property and Equipment [Line Items] | |
Estimated useful life of assets | 10 years |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Revenue Recognition and Concentrations of Credit Risk - Additional Information (Detail) - Customer | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 |
Concentration Risk [Line Items] | |||||
Number of customers with an account receivable balance of more than 10% of total accounts receivable | 1 | 1 | 1 | ||
US federal corporate tax rate | 21.00% | 35.00% | 0.00% | 0.00% | 0.00% |
Accounts Receivable [Member] | Customer [Member] | |||||
Concentration Risk [Line Items] | |||||
Aggregate account receivable of more than 10% of total accounts receivable | 19.00% | 27.00% |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Sep. 30, 2018USD ($) | |
Business Combinations [Abstract] | |
Business acquisition | $ 355,142 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Measurement on Company's Assets and Liabilities (Detail) - Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | $ 131,316 | $ 385,197 |
Derivative financial instruments, net | (27,842) | 27,352 |
Other liabilities | (37,954) | (21,972) |
Total | 65,520 | 390,577 |
Corporate Bonds [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 47,531 | 98,385 |
U.S. Government Treasuries [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 23,258 | 84,363 |
U.S. Agency Securities [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 16,033 | 60,646 |
Money Market Funds [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 30,883 | 52,504 |
Asset Backed Obligations [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 9,177 | 47,074 |
Commercial Paper and Certificates of Deposit [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 33,448 | |
Supranational and Sovereign Debt [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 4,434 | 8,777 |
Level 1 [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 54,141 | 136,867 |
Total | 54,141 | 136,867 |
Level 1 [Member] | U.S. Government Treasuries [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 23,258 | 84,363 |
Level 1 [Member] | Money Market Funds [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 30,883 | 52,504 |
Level 2 [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 77,175 | 248,330 |
Derivative financial instruments, net | (27,842) | 27,352 |
Total | 49,333 | 275,682 |
Level 2 [Member] | Corporate Bonds [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 47,531 | 98,385 |
Level 2 [Member] | U.S. Agency Securities [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 16,033 | 60,646 |
Level 2 [Member] | Asset Backed Obligations [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 9,177 | 47,074 |
Level 2 [Member] | Commercial Paper and Certificates of Deposit [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 33,448 | |
Level 2 [Member] | Supranational and Sovereign Debt [Member] | ||
Available-for-sale securities: | ||
Fair value, Measured on recurring basis, Investments | 4,434 | 8,777 |
Level 3 [Member] | ||
Available-for-sale securities: | ||
Other liabilities | (37,954) | (21,972) |
Total | $ (37,954) | $ (21,972) |
Fair Value Measurements - Addit
Fair Value Measurements - Additional information (Detail) $ in Thousands | 12 Months Ended |
Sep. 30, 2018USD ($) | |
Fair Value Disclosures [Abstract] | |
Increase in acquisition-related liabilities | $ 17,692 |
Available-for-Sale Securities -
Available-for-Sale Securities - Interest-bearing Investments in Available-for-Sale Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 132,908 | $ 385,598 |
Gross Unrealized Gains | 176 | |
Gross Unrealized Losses | 1,592 | 577 |
Fair Value | 131,316 | 385,197 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 48,252 | 98,367 |
Gross Unrealized Gains | 176 | |
Gross Unrealized Losses | 721 | 158 |
Fair Value | 47,531 | 98,385 |
U.S. Government Treasuries [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 23,656 | 84,558 |
Gross Unrealized Losses | 398 | 195 |
Fair Value | 23,258 | 84,363 |
U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 16,297 | 60,794 |
Gross Unrealized Losses | 264 | 148 |
Fair Value | 16,033 | 60,646 |
Money Market Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 30,883 | 52,504 |
Fair Value | 30,883 | 52,504 |
Asset Backed Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 9,312 | 47,108 |
Gross Unrealized Losses | 135 | 34 |
Fair Value | 9,177 | 47,074 |
Commercial Paper and Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 33,448 | |
Fair Value | 33,448 | |
Supranational and Sovereign Debt [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,508 | 8,819 |
Gross Unrealized Losses | 74 | 42 |
Fair Value | $ 4,434 | $ 8,777 |
Available-for-Sale Securities_2
Available-for-Sale Securities - Interest-bearing Investments in Available-for-Sale Securities (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Short Term Investments [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities | $ 100,433 | $ 329,997 |
Maturity period of short term interest-bearing securities included in cash and cash equivalents | Longer than 90 days | |
Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities | $ 30,883 | $ 55,200 |
Maturity period of short term interest-bearing securities included in cash and cash equivalents | 90 days or less |
Available-for-Sale Securities_3
Available-for-Sale Securities - Available-for-Sale Securities Debt Maturities Market Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | ||
Due within one year | $ 63,069 | |
1 to 2 years | 44,615 | |
2 to 3 years | 20,255 | |
3 to 4 years | 2,382 | |
Thereafter | 995 | |
Fair Value | $ 131,316 | $ 385,197 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Maximum amount of loss due to credit risk | $ 659 | ||
Maximum length of time hedged in cash flow hedges | 3 years | ||
Maximum maturity period of significant portion of forward and option contracts outstanding | 12 months | ||
Typical maturity period of other risk management derivatives | Less than 12 months | ||
Foreign Exchange Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net unrealized gain (loss) from cash flow hedges recognized in other comprehensive (loss) income | $ (34,260) | $ 39,692 | $ 27,578 |
Net unrealized gain (loss) from cash flow hedges recognized in other comprehensive (loss) income , net of taxes | (31,908) | $ 36,765 | $ 20,911 |
Foreign currency cash flow hedge, reclassified into earnings during fiscal year 2019 | $ (16,592) |
Derivative Financial Instrume_4
Derivative Financial Instruments - Notional Amounts of Derivative Instruments (Detail) $ in Thousands | Sep. 30, 2018USD ($) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Foreign exchange contracts | $ 1,147,934 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Fair Value of Open Foreign Currency Exchange Contracts (Detail) - Foreign Exchange Contracts [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Derivatives, Fair Value [Line Items] | ||
Net fair value | $ (27,842) | $ 27,352 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net fair value | (27,465) | 27,880 |
Derivatives Not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Net fair value | (377) | (528) |
Prepaid Expenses and Other Current Assets [Member] | Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 221 | 30,141 |
Prepaid Expenses and Other Current Assets [Member] | Derivatives Not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 2,758 | 2,840 |
Other Noncurrent Assets [Member] | Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset | 25 | 1,091 |
Accrued Expenses and Other Current Liabilities [Member] | Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | (17,681) | (2,317) |
Accrued Expenses and Other Current Liabilities [Member] | Derivatives Not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | (3,135) | (3,368) |
Other Noncurrent Liabilities [Member] | Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | $ (10,030) | $ (1,035) |
Derivative Financial Instrume_6
Derivative Financial Instruments - Effect of Cash Flow Hedging Instruments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (Losses) Reclassified from Other Comprehensive (Loss) Income (Effective Portion) | $ 21,337 | $ 28,349 | $ (4,141) |
Revenue [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (Losses) Reclassified from Other Comprehensive (Loss) Income (Effective Portion) | (1,129) | (1,021) | (192) |
Cost of Revenue [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (Losses) Reclassified from Other Comprehensive (Loss) Income (Effective Portion) | 15,877 | 21,783 | (2,131) |
Research and Development [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (Losses) Reclassified from Other Comprehensive (Loss) Income (Effective Portion) | 3,127 | 4,282 | (643) |
Selling, General and Administrative [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (Losses) Reclassified from Other Comprehensive (Loss) Income (Effective Portion) | $ 3,462 | $ 3,305 | $ (1,175) |
Derivative Financial Instrume_7
Derivative Financial Instruments - Changes in Net Unrealized (Losses) Gains on Cash Flow Hedges (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net unrealized gain (loss) on cash flow hedges, net of tax, beginning of period | $ 24,508 | $ 12,514 | |
Net unrealized (loss) gain on cash flow hedges, net of tax, end of period | (26,608) | 24,508 | $ 12,514 |
Foreign Exchange Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net unrealized gain (loss) on cash flow hedges, net of tax, beginning of period | 24,508 | 12,514 | (12,152) |
Changes in fair value of cash flow hedges, net of tax | (31,908) | 36,765 | 20,911 |
Reclassification of (gain) loss into earnings, net of tax | (19,208) | (24,771) | 3,755 |
Net unrealized (loss) gain on cash flow hedges, net of tax, end of period | $ (26,608) | $ 24,508 | $ 12,514 |
Derivative Financial Instrume_8
Derivative Financial Instruments - Effect of Non-Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | $ 2,356 | $ (4,848) | $ (7,786) |
Revenue [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | (67) | ||
Cost of Revenue [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | (4,577) | 4,639 | 2,187 |
Research and Development [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | (736) | 957 | 284 |
Selling, General and Administrative [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | (950) | 1,723 | 560 |
Interest and Other (Expense) Income, Net [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | 7,038 | (10,514) | (9,674) |
Income Taxes [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) Recognized in Income | $ 1,581 | $ (1,653) | $ (1,076) |
Accounts Receivable, Net - Acco
Accounts Receivable, Net - Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Receivables [Abstract] | ||
Accounts receivable - billed | $ 728,716 | $ 664,099 |
Accounts receivable - unbilled | 263,997 | 229,695 |
Less - allowances | (21,211) | (28,726) |
Accounts receivable, net | $ 971,502 | $ 865,068 |
Property and Equipment, Net - C
Property and Equipment, Net - Components of Property and Equipment, Net (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Property and Equipment [Line Items] | ||
Property and equipment, gross | $ 1,391,937 | $ 1,247,530 |
Less accumulated depreciation | (895,352) | (891,845) |
Property and equipment, net | 496,585 | 355,685 |
Computers, Related Equipment and Software [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, gross | 1,027,825 | 978,040 |
Building and Land [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, gross | 97,782 | |
Leasehold Improvements [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, gross | 222,812 | 213,166 |
Furniture, Fixtures and Other [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, gross | $ 43,518 | $ 56,324 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Property and Equipment [Abstract] | |||
Depreciation expense | $ 105,439 | $ 105,027 | $ 113,717 |
Unamortized software assets | $ 152,366 | $ 127,080 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net - Details of Total Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill, Beginning Balance | $ 2,221,209 | $ 2,211,639 |
Goodwill resulting from acquisitions | 227,283 | 18,535 |
Other | (3,597) | (8,965) |
Goodwill, Ending Balance | $ 2,444,895 | $ 2,221,209 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net - Details of Total Goodwill (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Goodwill [Line Items] | ||
Goodwill resulting from acquisitions | $ 227,283 | $ 18,535 |
Value of intangible asset | 265,249 | 177,326 |
Core Technology [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | 144,448 | 91,172 |
Customer Relationships [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | 110,519 | $ 82,642 |
Vubiquity [Member] | ||
Goodwill [Line Items] | ||
Goodwill resulting from acquisitions | 146,912 | |
Vubiquity [Member] | Trademarks [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | $ 10,104 | |
Useful life of intangible assets | 8 years | |
Vubiquity [Member] | Core Technology [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | $ 45,692 | |
Useful life of intangible assets | 5 years | |
Vubiquity [Member] | Customer Relationships [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | $ 38,630 | |
Useful life of intangible assets | 9 years | |
Projekt 202 [Member] | ||
Goodwill [Line Items] | ||
Goodwill resulting from acquisitions | $ 34,032 | |
Projekt 202 [Member] | Customer Relationships [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | $ 19,835 | |
Useful life of intangible assets | 4 years | |
UXP Systems [Member] | ||
Goodwill [Line Items] | ||
Goodwill resulting from acquisitions | $ 41,468 | |
UXP Systems [Member] | Core Technology [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | $ 31,552 | |
Useful life of intangible assets | 5 years | |
UXP Systems [Member] | Customer Relationships [Member] | ||
Goodwill [Line Items] | ||
Value of intangible asset | $ 6,552 | |
Useful life of intangible assets | 5 years |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net - Additional Information (Detail) | 12 Months Ended | ||
Sep. 30, 2018USD ($)Segment | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Impairment of goodwill | $ | $ 0 | $ 0 | $ 0 |
Number of operating segment | Segment | 1 |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets, Net - Details Regarding Total Definite-Lived Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross | $ 1,380,682 | $ 1,187,507 |
Accumulated Amortization | (1,115,433) | (1,010,181) |
Total | 265,249 | 177,326 |
Core Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 721,384 | 604,673 |
Accumulated Amortization | (576,936) | (513,501) |
Total | 144,448 | 91,172 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 563,656 | 497,296 |
Accumulated Amortization | (453,137) | (414,654) |
Total | 110,519 | 82,642 |
Intellectual Property Rights and Purchased Computer Software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 51,996 | 51,996 |
Accumulated Amortization | (51,996) | (51,996) |
Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross | 43,646 | 33,542 |
Accumulated Amortization | (33,364) | (30,030) |
Total | $ 10,282 | $ 3,512 |
Goodwill and Intangible Asset_7
Goodwill and Intangible Assets, Net - Amortization Expense on Definite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Cost of revenue | $ 572 | $ 1,405 | $ 1,609 |
Amortization of definite-lived purchased intangible assets | 105,213 | 108,453 | 96,465 |
Total | $ 105,785 | $ 109,858 | $ 98,074 |
Goodwill and Intangible Asset_8
Goodwill and Intangible Assets, Net - Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,019 | $ 92,693 | |
2,020 | 61,527 | |
2,021 | 42,554 | |
2,022 | 30,380 | |
2,023 | 14,682 | |
Thereafter | 23,413 | |
Total | $ 265,249 | $ 177,326 |
Non-recurring charges - Additio
Non-recurring charges - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended |
Nov. 30, 2018 | Sep. 30, 2018 | |
Schedule of Non-recurring Charges [Line Items] | ||
Non-recurring charges | $ 85,057 | |
Employee Severance [Member] | ||
Schedule of Non-recurring Charges [Line Items] | ||
Restructuring charge | 30,057 | |
Long Running Legal Dispute [Member] | ||
Schedule of Non-recurring Charges [Line Items] | ||
Non-recurring charges | $ 55,000 | |
Long Running Legal Dispute [Member] | Subsequent Event [Member] | ||
Schedule of Non-recurring Charges [Line Items] | ||
Settlement payments | $ 50,000 |
Income Taxes - Provision (Benef
Income Taxes - Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Current | $ 42,047 | $ 69,535 | $ 77,682 |
Deferred | 25,098 | 6,551 | (2,315) |
Income taxes | $ 67,145 | $ 76,086 | $ 75,367 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2015 |
Income Taxes [Line Items] | ||||||
Corporate tax rate of the company | 21.00% | 35.00% | 0.00% | 0.00% | 0.00% | |
Net increase (decrease) in valuation allowances | $ 18,154 | $ (2,297) | ||||
Tax credits, net capital and operating loss carryforwards | $ 894,997 | 894,997 | 707,761 | |||
Tax credits, net capital and operating loss carryforwards having expiration date | 322,816 | $ 322,816 | $ 180,882 | |||
Tax credits, net capital and operating loss carryforwards expiration date | Through 2038 for $322,816 in net operating losses | Through 2036 for $180,882 in net operating losses | ||||
Gross unrecognized tax benefits | 187,646 | $ 187,646 | $ 193,024 | $ 196,668 | $ 126,706 | |
Accrued income taxes payable for interest and penalties relating to unrecognized tax benefits | 30,807 | 30,807 | 28,228 | |||
Accrued income taxes payable for interest and penalties relating to unrecognized tax benefits, tax expense (benefit) recognized in the statements of income, net of interest and penalty reversals | 2,579 | 2,910 | ||||
Expected decrease in unrecognized tax benefits within next 12 months | 23,869 | 23,869 | ||||
Prepaid Expenses and Other Current Assets [Member] | ||||||
Income Taxes [Line Items] | ||||||
Tax receivable balance | $ 55,198 | $ 55,198 | $ 38,445 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Deferred tax assets: | ||
Deferred revenue | $ 30,596 | $ 44,571 |
Employee compensation and benefits | 72,218 | 87,204 |
Intangible assets, computer software and intellectual property | 9,793 | 14,997 |
Tax credits, net capital and operating loss carryforwards | 184,450 | 155,478 |
Other | 49,732 | 78,114 |
Total deferred tax assets | 346,789 | 380,364 |
Valuation allowances | (112,727) | (94,573) |
Total deferred tax assets, net | 234,062 | 285,791 |
Deferred tax liabilities: | ||
Anticipated withholdings on subsidiaries' earnings | (68,394) | (74,419) |
Intangible assets, computer software and intellectual property | (114,094) | (136,238) |
Other | (31,750) | (32,736) |
Total deferred tax liabilities | (214,238) | (243,393) |
Net deferred tax assets | $ 19,824 | $ 42,398 |
Income Taxes - Effective Income
Income Taxes - Effective Income Tax Rate Varied from Statutory Guernsey Tax Rate (Detail) | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 |
Income Tax Disclosure [Abstract] | |||||
Statutory Guernsey tax rate | 21.00% | 35.00% | 0.00% | 0.00% | 0.00% |
Foreign taxes (percentage) | 15.90% | 14.80% | 15.50% | ||
Effective income tax rate | 15.90% | 14.80% | 15.50% |
Income Taxes - Effective Inco_2
Income Taxes - Effective Income Tax Rate Varied from Statutory Guernsey Tax Rate (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Net benefit from reduction of taxes payable | $ 11,037 | ||
Lapse of statute of limitations | $ 18,022 | 28,774 | $ 4,606 |
Tax benefit, settlement | 9,564 | 9,450 | |
Net benefit from release of valuation allowances on deferred tax assets | 12,032 | $ (12,754) | |
Provisional expense due to US tax law change | 2,321 | ||
Provisional tax liability related to tax implications of retaining earnings | 4,059 | ||
Tax benefit | $ 28,795 |
Income Taxes - Aggregate Change
Income Taxes - Aggregate Changes in Balance of Company's Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Unrecognized tax benefits, Beginning balance | $ 193,024 | $ 196,668 | $ 126,706 |
Additions based on tax positions related to the current year | 20,329 | 22,319 | 65,009 |
Additions for tax positions of prior years | 12,261 | 41,183 | |
Reduction for tax positions of prior years | (3,805) | ||
Settlements with tax authorities | (3,880) | (9,450) | (31,624) |
Lapse of statute of limitations | (18,022) | (28,774) | (4,606) |
Unrecognized tax benefits, Ending balance | $ 187,646 | $ 193,024 | $ 196,668 |
Repurchase of Shares - Addition
Repurchase of Shares - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Nov. 08, 2017 | Feb. 02, 2016 | |
Equity, Class of Treasury Stock [Line Items] | |||
Share repurchase program, Authorized amount | $ 800,000,000 | ||
Repurchase of shares, Shares | 6,337 | ||
Average price at which ordinary shares are repurchased | $ 66.14 | ||
Remaining authority to repurchase outstanding ordinary shares | $ 637,127,000 | ||
Share Repurchase Program 2016 Plan [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Share repurchase program, Authorized amount | $ 750,000,000 |
Financing Arrangements - Additi
Financing Arrangements - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||
Apr. 30, 2018 | Dec. 31, 2017 | Apr. 30, 2017 | Dec. 31, 2014 | Dec. 31, 2011 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | |
Line of Credit Facility [Line Items] | ||||||||||
Payments under financing arrangements | $ 120,000,000 | $ 400,000,000 | $ 220,000,000 | |||||||
Outstanding letters of credit and bank guarantees | 53,891,000 | |||||||||
Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Five-year revolving credit facility | $ 500,000,000 | |||||||||
Revolving credit facility, maturity term | 5 years | |||||||||
Revolving credit facility, maturity period | 2022-12 | 2019-12 | ||||||||
Borrowings under the revolving credit facility | $ 120,000,000 | $ 200,000,000 | ||||||||
Payments under financing arrangements | $ 120,000,000 | $ 200,000,000 | ||||||||
Outstanding borrowings | $ 0 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Payables and Accruals [Abstract] | ||
Ongoing accrued expenses | $ 256,012 | $ 242,918 |
Project-related provisions | 155,739 | 227,049 |
Taxes payable | 27,843 | 34,143 |
Dividends payable | 35,046 | 31,736 |
Derivative instruments | 20,821 | 5,685 |
Other | 211,176 | 126,556 |
Total accrued expenses and other current liabilities | $ 706,637 | $ 668,087 |
Interest and Other (Expense) _3
Interest and Other (Expense) Income, Net - Interest and Other (Expense) Income, Net (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Income and Expenses [Abstract] | |||
Interest income | $ 6,602 | $ 7,972 | $ 6,815 |
Interest expense | (2,764) | (1,600) | (1,667) |
Foreign exchange loss | (6,173) | (8,246) | (1,998) |
Other, net | (4,431) | (2,547) | (1,593) |
Total | $ (6,766) | $ (4,421) | $ 1,557 |
Contingencies and Commitments -
Contingencies and Commitments - Future Minimum Non-Cancelable Lease Payments (Detail) - Office Space [Member] $ in Thousands | Sep. 30, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,019 | $ 75,159 |
2,020 | 68,847 |
2,021 | 57,903 |
2,022 | 47,849 |
2,023 | 20,670 |
Thereafter | 23,459 |
Total | $ 293,887 |
Contingencies and Commitments_2
Contingencies and Commitments - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Nov. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Line Items] | ||||
Rent expense, net of sublease income | $ 57,559 | $ 55,480 | $ 53,164 | |
Subsequent Event [Member] | Long Running Legal Dispute [Member] | ||||
Commitments and Contingencies Disclosure [Line Items] | ||||
Settlement payments | $ 50,000 | |||
Accrued legal fees and other associated costs | $ 5,000 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Retirement Benefits [Abstract] | |||
Severance pay liability | $ 258,262 | $ 267,713 | |
Deposit with insurance companies | 202,230 | 206,054 | |
Severance expenses | $ 28,472 | $ 32,908 | $ 34,165 |
Stock Option and Incentive Pl_3
Stock Option and Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum number of shares authorized to be granted | 67,550,000 | 62,300,000 | |
Stock option awards, term | 10 years | ||
Total intrinsic value of options exercised | $ 38,025 | $ 47,321 | $ 65,292 |
Value of restricted shares vested | 35,801 | 36,922 | 39,490 |
Aggregate intrinsic value of stock options outstanding | 75,177 | ||
Aggregate intrinsic value of stock options exercisable | 49,058 | ||
Total income tax benefit recognized for stock-based compensation | 6,047 | $ 4,754 | $ 4,503 |
Unrecognized compensation expense related to unvested stock options and unvested restricted shares | $ 34,975 | ||
Unrecognized compensation expense weighted average period of recognition | 1 year | ||
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option awards, vesting period | 3 years | ||
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option awards, vesting period | 4 years |
Stock Option and Incentive Pl_4
Stock Option and Incentive Plan - Summary of Option Activity (Detail) shares in Thousands | 12 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Number of Share Options, Outstanding, Beginning Balance | shares | 6,957 |
Number of Share Options, Granted | shares | 1,826 |
Number of Share Options, Exercised | shares | (1,800) |
Number of Share Options, Forfeited | shares | (566) |
Number of Share Options, Outstanding, Ending Balance | shares | 6,418 |
Number of Share Options, Exercisable | shares | 2,323 |
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares | $ 49.52 |
Weighted Average Exercise Price, Granted | $ / shares | 65.94 |
Weighted Average Exercise Price, Exercised | $ / shares | 45.16 |
Weighted Average Exercise Price, Forfeited | $ / shares | 56.90 |
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares | 54.76 |
Weighted Average Exercise Price, Exercisable | $ / shares | $ 45.03 |
Stock Option and Incentive Pl_5
Stock Option and Incentive Plan - Summary of Option Activity (Parenthetical) (Detail) | 12 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Weighted average remaining contractual life of outstanding options | 7 years 4 months 9 days |
Weighted average remaining contractual life of exercisable options | 5 years 8 months 1 day |
Stock Option and Incentive Pl_6
Stock Option and Incentive Plan - Summary of Restricted Shares Activity (Detail) shares in Thousands | 12 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Number of Restricted Shares, Outstanding, Beginning Balance | shares | 1,396 |
Number of Restricted Shares, Granted | shares | 431 |
Number of Restricted Shares, Vested | shares | (670) |
Number of Restricted Shares, Forfeited | shares | (135) |
Number of Restricted Shares, Ending Balance | shares | 1,022 |
Restricted Shares, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares | $ 55.55 |
Restricted Shares, Weighted Average Grant Date Fair Value, Granted | $ / shares | 65.33 |
Restricted Shares, Weighted Average Grant Date Fair Value, Vested | $ / shares | 53.61 |
Restricted Shares, Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 57.62 |
Restricted Shares, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares | $ 60.68 |
Stock Option and Incentive Pl_7
Stock Option and Incentive Plan - Employee Equity-Based Compensation Pre-Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Equity-based compensation pre-tax expense | $ 47,476 | $ 44,539 | $ 42,700 |
Cost of Revenue [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Equity-based compensation pre-tax expense | 18,253 | 19,215 | 18,249 |
Research and Development [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Equity-based compensation pre-tax expense | 3,476 | 3,536 | 3,742 |
Selling, General and Administrative [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Equity-based compensation pre-tax expense | $ 25,747 | $ 21,788 | $ 20,709 |
Stock Option and Incentive Pl_8
Stock Option and Incentive Plan - Assumptions Used in Calculating Fair Value of Options (Detail) - $ / shares | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Risk-free interest rate | 2.30% | 1.63% | 1.40% |
Expected life of stock options | 4 years 6 months | 4 years 6 months | 4 years 6 months |
Expected volatility | 15.00% | 16.20% | 18.50% |
Expected dividend yield | 1.51% | 1.47% | 1.40% |
Fair value per option | $ 8.70 | $ 7.62 | $ 7.97 |
Dividends - Summary of Dividend
Dividends - Summary of Dividends Declared by Board of directors (Detail) - USD ($) $ / shares in Units, $ in Thousands | Jul. 31, 2018 | May 10, 2018 | Jan. 30, 2018 | Nov. 08, 2017 | Aug. 02, 2017 | May 09, 2017 | Feb. 01, 2017 | Nov. 08, 2016 | Jul. 26, 2016 | May 04, 2016 | Feb. 02, 2016 | Nov. 10, 2015 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 |
Dividends Payable [Line Items] | |||||||||||||||
Dividends Per Ordinary Share | $ 0.970 | $ 0.855 | $ 0.755 | ||||||||||||
Declaration Date, July 31, 2018 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Jul. 31, 2018 | ||||||||||||||
Record Date | Sep. 28, 2018 | ||||||||||||||
Payment Date | Oct. 19, 2018 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.250 | ||||||||||||||
Total Amount | $ 35,046 | ||||||||||||||
Declaration Date, May 10, 2018 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | May 10, 2018 | ||||||||||||||
Record Date | Jun. 29, 2018 | ||||||||||||||
Payment Date | Jul. 20, 2018 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.250 | ||||||||||||||
Total Amount | $ 35,363 | ||||||||||||||
Declaration Date, January 30, 2018 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Jan. 30, 2018 | ||||||||||||||
Record Date | Mar. 30, 2018 | ||||||||||||||
Payment Date | Apr. 20, 2018 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.250 | ||||||||||||||
Total Amount | $ 35,635 | ||||||||||||||
Declaration Date, November 8, 2017 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Nov. 8, 2017 | ||||||||||||||
Record Date | Dec. 29, 2017 | ||||||||||||||
Payment Date | Jan. 19, 2018 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.220 | ||||||||||||||
Total Amount | $ 31,558 | ||||||||||||||
Declaration Date, August 2, 2017 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Aug. 2, 2017 | ||||||||||||||
Record Date | Sep. 29, 2017 | ||||||||||||||
Payment Date | Oct. 23, 2017 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.220 | ||||||||||||||
Total Amount | $ 31,736 | ||||||||||||||
Declaration Date, May 9, 2017 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | May 9, 2017 | ||||||||||||||
Record Date | Jun. 30, 2017 | ||||||||||||||
Payment Date | Jul. 14, 2017 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.220 | ||||||||||||||
Total Amount | $ 31,981 | ||||||||||||||
Declaration Date, February 1, 2017 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Feb. 1, 2017 | ||||||||||||||
Record Date | Mar. 31, 2017 | ||||||||||||||
Payment Date | Apr. 14, 2017 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.220 | ||||||||||||||
Total Amount | $ 32,223 | ||||||||||||||
Declaration Date, November 8, 2016 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Nov. 8, 2016 | ||||||||||||||
Record Date | Dec. 30, 2016 | ||||||||||||||
Payment Date | Jan. 13, 2017 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.195 | ||||||||||||||
Total Amount | $ 28,606 | ||||||||||||||
Declaration Date, July 26, 2016 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Jul. 26, 2016 | ||||||||||||||
Record Date | Sep. 30, 2016 | ||||||||||||||
Payment Date | Oct. 21, 2016 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.195 | ||||||||||||||
Total Amount | $ 28,693 | ||||||||||||||
Declaration Date, May 4 ,2016 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | May 4, 2016 | ||||||||||||||
Record Date | Jun. 30, 2016 | ||||||||||||||
Payment Date | Jul. 15, 2016 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.195 | ||||||||||||||
Total Amount | $ 28,836 | ||||||||||||||
Declaration Date, February 2, 2016 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Feb. 2, 2016 | ||||||||||||||
Record Date | Mar. 31, 2016 | ||||||||||||||
Payment Date | Apr. 15, 2016 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.195 | ||||||||||||||
Total Amount | $ 29,206 | ||||||||||||||
Declaration Date, November 10, 2015 [Member] | |||||||||||||||
Dividends Payable [Line Items] | |||||||||||||||
Declaration Date | Nov. 10, 2015 | ||||||||||||||
Record Date | Dec. 31, 2015 | ||||||||||||||
Payment Date | Jan. 15, 2016 | ||||||||||||||
Dividends Per Ordinary Share | $ 0.170 | ||||||||||||||
Total Amount | $ 25,565 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - Subsequent Event [Member] | Nov. 08, 2018$ / shares |
Dividends Payable [Line Items] | |
Quarterly dividend payment per share | $ 0.285 |
Cash dividend anticipated payable date | 2019-04 |
First Installment [Member] | |
Dividends Payable [Line Items] | |
Dividends payable date declared | Nov. 8, 2018 |
Quarterly dividend payment per share | $ 0.25 |
Record Date | Dec. 31, 2018 |
Cash dividend payable date | Jan. 18, 2019 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Numerator | |||||||||||
Net income | $ 44,266 | $ 91,530 | $ 101,727 | $ 116,873 | $ 107,209 | $ 119,264 | $ 112,560 | $ 97,793 | $ 354,396 | $ 436,826 | $ 409,331 |
Net income and dividends attributable to participating restricted shares | (2,650) | (3,517) | (3,592) | ||||||||
Numerator for basic earnings per common share | 351,746 | 433,309 | 405,739 | ||||||||
Undistributed income allocated to participating restricted shares | 1,617 | 2,512 | 2,604 | ||||||||
Undistributed income reallocated to participating restricted shares | (1,603) | (2,488) | (2,569) | ||||||||
Numerator for diluted earnings per common share | $ 351,760 | $ 433,333 | $ 405,774 | ||||||||
Denominator | |||||||||||
Weighted average number of shares outstanding - basic | 142,422 | 146,017 | 149,168 | ||||||||
Weighted average number of participating restricted shares | (1,065) | (1,176) | (1,309) | ||||||||
Weighted average number of common shares - basic | 141,357 | 144,841 | 147,859 | ||||||||
Effect of assumed conversion of 0.5% convertible notes | 5 | ||||||||||
Effect of dilutive stock options granted | 1,282 | 1,414 | 2,002 | ||||||||
Weighted average number of common shares - diluted | 142,639 | 146,255 | 149,866 | ||||||||
Basic earnings per common share | $ 0.31 | $ 0.64 | $ 0.71 | $ 0.81 | $ 0.74 | $ 0.82 | $ 0.77 | $ 0.67 | $ 2.49 | $ 2.99 | $ 2.74 |
Diluted earnings per common share | $ 0.31 | $ 0.64 | $ 0.70 | $ 0.80 | $ 0.73 | $ 0.81 | $ 0.76 | $ 0.66 | $ 2.47 | $ 2.96 | $ 2.71 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares shares in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |||
Weighted average number of shares attributable to antidilutive outstanding stock options not included in the calculation of diluted earnings per share | 1,357 | 1,281 | 1,785 |
Segment Information and Sales_3
Segment Information and Sales to Significant Customers - Summary of Revenue by Geographic Area (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenue | $ 1,002,588 | $ 1,002,198 | $ 992,340 | $ 977,711 | $ 979,724 | $ 966,695 | $ 966,009 | $ 954,727 | $ 3,974,837 | $ 3,867,155 | $ 3,718,229 |
North America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenue | 2,550,234 | 2,546,290 | 2,381,122 | ||||||||
Europe [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenue | 572,196 | 488,932 | 513,295 | ||||||||
Rest of the World [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenue | $ 852,407 | $ 831,933 | $ 823,812 |
Segment Information and Sales_4
Segment Information and Sales to Significant Customers - Summary of Long-lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | $ 496,585 | $ 355,685 |
North America [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 88,251 | 71,980 |
Europe [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 187,884 | 151,794 |
Israel [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 161,726 | 66,628 |
India [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 37,239 | 43,118 |
Others [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | $ 21,485 | $ 22,165 |
Segment Information and Sales_5
Segment Information and Sales to Significant Customers - Revenue and Customer Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenue from External Customer [Line Items] | |||||||||||
Total revenue | $ 1,002,588 | $ 1,002,198 | $ 992,340 | $ 977,711 | $ 979,724 | $ 966,695 | $ 966,009 | $ 954,727 | $ 3,974,837 | $ 3,867,155 | $ 3,718,229 |
AmdocsONE [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenue | 3,930,186 | 3,809,088 | 3,629,698 | ||||||||
Directory [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenue | $ 44,651 | $ 58,067 | $ 88,531 |
Segment Information and Sales_6
Segment Information and Sales to Significant Customers - Additional Information (Detail) | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenue, Major Customer [Line Items] | |||
Minimum percentage of total revenue accounted for one customer | 10.00% | 10.00% | 10.00% |
Revenue [Member] | Customer [Member] | |||
Revenue, Major Customer [Line Items] | |||
Percentage of revenue from significant customer | 27.00% | 33.00% | 33.00% |
Selected Quarterly Results of_3
Selected Quarterly Results of Operations - Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue | $ 1,002,588 | $ 1,002,198 | $ 992,340 | $ 977,711 | $ 979,724 | $ 966,695 | $ 966,009 | $ 954,727 | $ 3,974,837 | $ 3,867,155 | $ 3,718,229 |
Operating income | 68,819 | 105,518 | 131,827 | 122,143 | 132,047 | 129,912 | 133,781 | 121,593 | 428,307 | 517,333 | 483,141 |
Net income | $ 44,266 | $ 91,530 | $ 101,727 | $ 116,873 | $ 107,209 | $ 119,264 | $ 112,560 | $ 97,793 | $ 354,396 | $ 436,826 | $ 409,331 |
Basic earnings per share | $ 0.31 | $ 0.64 | $ 0.71 | $ 0.81 | $ 0.74 | $ 0.82 | $ 0.77 | $ 0.67 | $ 2.49 | $ 2.99 | $ 2.74 |
Diluted earnings per share | $ 0.31 | $ 0.64 | $ 0.70 | $ 0.80 | $ 0.73 | $ 0.81 | $ 0.76 | $ 0.66 | $ 2.47 | $ 2.96 | $ 2.71 |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) $ in Thousands | 1 Months Ended |
Nov. 30, 2018USD ($) | |
Subsequent Event [Member] | Long Running Legal Dispute [Member] | |
Subsequent Event [Line Items] | |
Settlement payments | $ 50,000 |
Schedule - Valuation and Qualif
Schedule - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accounts Receivable Allowances [Member] | |||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning Balance | $ 28,726 | $ 39,512 | $ 33,837 |
Charged to costs and expenses | 6,134 | 17,282 | 24,004 |
Charged to other accounts | 1,226 | 1,985 | 1,415 |
Deductions | (14,875) | (30,053) | (19,744) |
Ending Balance | 21,211 | 28,726 | 39,512 |
Valuation Allowances on Net Deferred Tax Assets [Member] | |||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning Balance | 94,573 | 96,870 | 112,165 |
Charged to costs and expenses | 18,173 | 16,425 | 13,800 |
Charged to other accounts | 6,121 | 5,000 | 826 |
Deductions | (6,140) | (23,722) | (29,921) |
Ending Balance | $ 112,727 | $ 94,573 | $ 96,870 |
Schedule - Valuation and Qual_2
Schedule - Valuation and Qualifying Accounts (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |||
Valuation allowances on deferred tax assets written off against the deferred tax assets | $ 2,416 | $ 9,231 | |
Accounts receivable allowances written off against related accounts receivables | $ 6,659 | 3,008 | $ 12,727 |
Accounts receivable allowances were netted against deferred revenue | $ 5,291 |