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Ceridian HCM Holding (CDAY)

Document and Entity Information

Document and Entity Information - shares9 Months Ended
Sep. 30, 2019Nov. 05, 2019
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateSep. 30,
2019
Document Fiscal Year Focus2019
Document Fiscal Period FocusQ3
Trading SymbolCDAY
Title of 12(b) SecurityCommon stock, $0.01 par value
Security Exchange NameNYSE
Entity Registrant NameCeridian HCM Holding Inc.
Entity Central Index Key0001725057
Entity Current Reporting StatusYes
Current Fiscal Year End Date--12-31
Entity Filer CategoryNon-accelerated Filer
Entity Shell Companyfalse
Entity Interactive Data CurrentYes
Document Quarterly Reporttrue
Document Transition Reportfalse
Entity File Number001-38467
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number46-3231686
Entity Address, Address Line One3311 East Old Shakopee Road
Entity Address, City or TownMinneapolis
Entity Address State Or ProvinceMN
Entity Address, Postal Zip Code55425
City Area Code952
Local Phone Number853-8100
Entity Small Businessfalse
Entity Emerging Growth Companytrue
Entity Ex Transition Periodfalse
Entity Common Stock, Shares Outstanding143,881,411

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018
Current assets:
Cash and equivalents $ 270.9 $ 217.8
Trade and other receivables, net69.5 63.9
Prepaids expenses and other current assets59.9 48.9
Total current assets before customer trust funds400.3 330.6
Customer trust funds2,604 2,603.5
Total current assets3,004.3 2,934.1
Right of use lease asset36.8
Property, plant, and equipment, net108.8 104.4
Goodwill1,961.2 1,927.4
Other intangible assets, net181.7 187.5
Other assets143.4 94.4
Total assets5,436.2 5,247.8
Current liabilities:
Current portion of long-term debt6.8 6.8
Short-term lease liabilities13.3
Accounts payable34.1 41.5
Deferred revenue27.2 23.2
Employee compensation and benefits57.4 54.5
Other accrued expenses14 23.9
Total current liabilities before customer trust funds obligations152.8 149.9
Customer trust funds obligations2,590.4 2,619.7
Total current liabilities2,743.2 2,769.6
Long-term debt, less current portion659.3 663.5
Employee benefit plans129.1 153.3
Long-term lease liabilities31.8
Other liabilities19.7 45.9
Total liabilities3,583.1 3,632.3
Commitments and contingencies (Note 16)
Stockholders’ equity:
Common stock, $0.01 par, 500,000,000 shares authorized, 143,835,394 and 139,453,710 shares issued and outstanding as of September 30, 2019, and December 31, 2018, respectively1.4 1.4
Additional paid in capital2,428.3 2,325.6
Accumulated deficit(228.3)(335.6)
Accumulated other comprehensive loss(348.3)(375.9)
Total stockholders’ equity1,853.1 1,615.5
Total liabilities and equity $ 5,436.2 $ 5,247.8

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / sharesSep. 30, 2019Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common Stock, par value $ 0.01 $ 0.01
Common Stock, shares authorized500,000,000 500,000,000
Common Stock, shares issued143,835,394 139,453,710
Common Stock, shares outstanding143,835,394 139,453,710

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Revenue:
Total revenue $ 202.3 $ 178.1 $ 602.3 $ 545.9
Cost of revenue:
Recurring services49.4 49.1 149 149.3
Professional services and other37.6 32.5 107.1 98.7
Product development and management17.5 14.5 49.1 43.3
Depreciation and amortization9 8.5 26.7 25.7
Total cost of revenue113.5 104.6 331.9 317
Gross profit88.8 73.5 270.4 228.9
Selling, general, and administrative expense82.3 57.3 217.8 193.1
Operating profit6.5 16.2 52.6 35.8
Interest expense, net7.8 8.8 25.2 74.4
Other expense (income), net1.6 0.9 4.7 (0.7)
(Loss) income from continuing operations before income taxes(2.9)6.5 22.7 (37.9)
Income tax (benefit) expense(65.6)(0.7)(57.5)6.3
Income (loss) from continuing operations62.7 7.2 80.2 (44.2)
Loss from discontinued operations(3)(14.8)
Net income (loss)62.7 4.2 80.2 (59)
Net loss attributable to noncontrolling interest(0.5)
Net income (loss) attributable to Ceridian $ 62.7 $ 4.2 $ 80.2 $ (58.5)
Net income (loss) per share attributable to Ceridian:
Basic $ 0.44 $ 0.03 $ 0.57 $ (0.63)
Diluted $ 0.42 $ 0.03 $ 0.54 $ (0.63)
Weighted average shares outstanding:
Basic142,780,819 137,768,764 141,369,339 105,730,178
Diluted149,153,227 145,064,698 148,279,943 105,730,178
Recurring Services [Member]
Revenue:
Total revenue $ 167.4 $ 149.5 $ 503.7 $ 460.5
Professional Services and Other [Member]
Revenue:
Total revenue $ 34.9 $ 28.6 $ 98.6 $ 85.4

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss) $ 62.7 $ 4.2 $ 80.2 $ (59)
Items of other comprehensive income (loss) before income taxes:
Change in foreign currency translation adjustment(6.5)10.2 17.3 (16.6)
Change in unrealized gain (loss) from invested customer trust funds3.1 (6)42.3 (24.5)
Change in pension liability adjustment[1]2.5 2.9 7.5 8.7
Other comprehensive (loss) income before income taxes(0.9)7.1 67.1 (32.4)
Income tax expense (benefit), net8.8 (0.9)12.4 (2.3)
Other comprehensive (loss) income after income taxes(9.7)8 54.7 (30.1)
Comprehensive income (loss)53 12.2 134.9 (89.1)
Comprehensive loss attributable to noncontrolling interest(0.5)
Comprehensive income (loss) attributable to Ceridian $ 53 $ 12.2 $ 134.9 $ (88.6)
[1]The amount of the pension liability adjustment recognized in the condensed consolidated statements of operations within other expense (income), net was $2.6 million and $3.0 million during the three months ended September 30, 2019, and 2018, respectively, and $7.8 million and $9.0 million during the nine months ended September 30, 2019, and 2018, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Other Expense (Income), Net [Member]
Pension liability adjustment $ 2.6 $ 3 $ 7.8 $ 9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in MillionsTotalSenior Preferred Stock [Member]Junior Preferred Stock [Member]Common Stock [Member]Additional Paid In Capital [Member]Accumulated Deficit [Member]Accumulated Other Comprehensive Loss [Member]Total Stockholders Equity [Member]Non-controlling Interest [Member]
Beginning balance at Dec. 31, 2017 $ 1,211 $ 184.8 $ 0.6 $ 0.7 $ 1,565.4 $ (267.3) $ (311) $ 1,173.2 $ 37.8
Balance, shares at Dec. 31, 201716,802,144 58,244,308 65,285,962
Net income (loss)0.1 0.6 0.6 (0.5)
Issuance of common stock under share-based compensation plans, shares88,347
Senior preferred dividends declared $ 5.3 (5.3)
Share-based compensation2.9 2.9 2.9
Foreign currency translation(16.6)(16.4)(16.4)(0.2)
Change in unrealized gain (loss), net of tax(12.6)(12.6)(12.6)
Change in pension liability adjustment, net of tax2.9 2.9 2.9
Balance, shares at Mar. 31, 201816,802,144 58,244,308 65,374,309
Ending balance at Mar. 31, 20181,187.7 $ 190.1 $ 0.6 $ 0.7 1,568.3 (272)(337.1)1,150.6 37.1
Beginning balance at Dec. 31, 20171,211 $ 184.8 $ 0.6 $ 0.7 1,565.4 (267.3)(311)1,173.2 37.8
Balance, shares at Dec. 31, 201716,802,144 58,244,308 65,285,962
Net income (loss)(59)
Ending balance at Sep. 30, 20181,624.8 $ 1.4 2,297.3 (333.5)(340.4)1,624.8
Balance, shares at Sep. 30, 2018138,049,718
Beginning balance at Mar. 31, 20181,187.7 $ 190.1 $ 0.6 $ 0.7 1,568.3 (272)(337.1)1,150.6 37.1
Balance, shares at Mar. 31, 201816,802,144 58,244,308 65,374,309
Net income (loss)(63.3)(63.3)(63.3)
Issuance of common stock595 $ 0.3 594.7 595
Issuance of common stock, shares28,695,455
Issuance of common stock under share-based compensation plans14.1 14.1 14.1
Issuance of common stock under share-based compensation plans, shares1,148,801
Senior preferred dividends declared $ 2.4 (2.4)
Conversion of stock $ (192.5) $ (0.6) $ 0.4 192.7
Conversion of stock, shares(16,802,144)(58,244,308)42,246,650
LifeWorks Disposition(132.3)(95.7)0.7 (95)(37.3)
Share-based compensation10.5 10.5 10.5
Foreign currency translation(10.2)(10.4)(10.4) $ 0.2
Change in unrealized gain (loss), net of tax(4.5)(4.5)(4.5)
Change in pension liability adjustment, net of tax2.9 2.9 2.9
Ending balance at Jun. 30, 20181,599.9 $ 1.4 2,284.6 (337.7)(348.4)1,599.9
Balance, shares at Jun. 30, 2018137,465,215
Net income (loss)4.2 4.2 4.2
Issuance of common stock under share-based compensation plans7.8 7.8 7.8
Issuance of common stock under share-based compensation plans, shares584,503
Share-based compensation4.9 4.9 4.9
Foreign currency translation10.2 10.2 10.2
Change in unrealized gain (loss), net of tax(5.1)(5.1)(5.1)
Change in pension liability adjustment, net of tax2.9 2.9 2.9
Ending balance at Sep. 30, 20181,624.8 $ 1.4 2,297.3 (333.5)(340.4) $ 1,624.8
Balance, shares at Sep. 30, 2018138,049,718
Balance, shares at Dec. 31, 2018139,453,710
Beginning balance at Dec. 31, 20181,615.5 $ 1.4 2,325.6 (335.6)(375.9)
Cumulative-effect adjustment to accumulated deficit related to the adoption of ASU 2018-02 (Please refer to Note 2) | ASU 2018-02 [Member]27.1 (27.1)
Net income (loss)11.2 11.2
Issuance of common stock under share-based compensation plans20.1 20.1
Issuance of common stock under share-based compensation plans, shares1,221,622
Share-based compensation6 6
Foreign currency translation12.3 12.3
Change in unrealized gain (loss), net of tax19.2 19.2
Change in pension liability adjustment, net of tax2.5 2.5
Ending balance at Mar. 31, 20191,686.8 $ 1.4 2,351.7 (297.3)(369)
Balance, shares at Mar. 31, 2019140,675,332
Balance, shares at Dec. 31, 2018139,453,710
Beginning balance at Dec. 31, 20181,615.5 $ 1.4 2,325.6 (335.6)(375.9)
Cumulative-effect adjustment to accumulated deficit related to the adoption of ASU 2018-02 (Please refer to Note 2) | ASU 2018-02 [Member](27.1)
Net income (loss)80.2
Ending balance at Sep. 30, 20191,853.1 $ 1.4 2,428.3 (228.3)(348.3)
Balance, shares at Sep. 30, 2019143,835,394
Balance, shares at Mar. 31, 2019140,675,332
Beginning balance at Mar. 31, 20191,686.8 $ 1.4 2,351.7 (297.3)(369)
Net income (loss)6.3 6.3
Issuance of common stock under share-based compensation plans24 24
Issuance of common stock under share-based compensation plans, shares1,266,734
Share-based compensation9.6 9.6
Foreign currency translation11.5 11.5
Change in unrealized gain (loss), net of tax16.4 16.4
Change in pension liability adjustment, net of tax2.5 2.5
Ending balance at Jun. 30, 20191,757.1 $ 1.4 2,385.3 (291)(338.6)
Balance, shares at Jun. 30, 2019141,942,066
Net income (loss)62.7 62.7
Issuance of common stock under share-based compensation plans32.6 32.6
Issuance of common stock under share-based compensation plans, shares1,893,328
Share-based compensation10.4 10.4
Foreign currency translation(6.5)(6.5)
Change in unrealized gain (loss), net of tax(3.9)(3.9)
Change in pension liability adjustment, net of tax0.7 0.7
Ending balance at Sep. 30, 2019 $ 1,853.1 $ 1.4 $ 2,428.3 $ (228.3) $ (348.3)
Balance, shares at Sep. 30, 2019143,835,394

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions3 Months Ended
Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019Sep. 30, 2018Jun. 30, 2018Mar. 31, 2018
Statement Of Stockholders Equity [Abstract]
Change in unrealized gain (loss), tax $ 7 $ 0.9 $ 2.7 $ (0.9) $ (0.6) $ (0.8)
Change in pension liability adjustment, tax $ 1.8 $ 0 $ 0 $ 0 $ 0 $ 0

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions9 Months Ended
Sep. 30, 2019Sep. 30, 2018
Statement Of Cash Flows [Abstract]
Net income (loss) $ 80.2 $ (59)
Loss from discontinued operations14.8
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Deferred income tax benefit(75.9)(9.4)
Depreciation and amortization43.9 42.4
Amortization of debt issuance costs and debt discount0.8 1.9
Loss on debt extinguishment25.7
Net periodic pension and postretirement cost3.9 1.8
Non-cash share-based compensation26 18
Other1.8 0.1
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables(10.6)4.2
Prepaid expenses and other current assets(10.1)(6.4)
Accounts payable and other accrued expenses(2.5)(8.4)
Deferred revenue2.6 4.8
Employee compensation and benefits(18.5)(27.7)
Accrued interest(15.5)
Accrued taxes(10.4)5.2
Other assets and liabilities(6.6)(7.3)
Net cash provided by (used in) operating activities - continuing operations24.6 (14.8)
Net cash used in operating activities - discontinued operations(3.3)
Net cash provided by (used in) operating activities24.6 (18.1)
Cash Flows from Investing Activities
Purchase of customer trust funds marketable securities(335.1)(694.8)
Proceeds from sale and maturity of customer trust funds marketable securities278.1 707.9
Expenditures for property, plant, and equipment(10.8)(6.8)
Expenditures for software and technology(27.6)(21.9)
Acquisition costs, net of cash acquired(29.4)
Net cash used in investing activities(124.8)(15.6)
Cash Flows from Financing Activities
Increase in customer trust funds obligations, net(54.5)(625.5)
Net proceeds from issuance of common stock595
Proceeds from issuance of common stock under share-based compensation plans76.7 22.2
Proceeds from debt issuance680
Repayment of long-term debt obligations(5.1)(1,132.3)
Payment of debt refinancing costs(23.3)
Net cash provided by (used in) financing activities17.1 (483.9)
Effect of exchange rate changes on cash, restricted cash, and equivalents7.2 (2.2)
Net decrease in cash, restricted cash, and equivalents(75.9)(519.8)
Elimination of cash from discontinued operations0.5
Cash, restricted cash, and equivalents at beginning of period1,106.3 2,411.8
Cash, restricted cash, and equivalents at end of period1,030.4 1,892.5
Reconciliation of cash, restricted cash, and equivalents to the condensed consolidated balance sheets
Cash and equivalents270.9 188
Restricted cash and equivalents included in customer trust funds $ 759.5 $ 1,704.5
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]us-gaap:FundsHeldForClientsus-gaap:FundsHeldForClients
Cash, restricted cash, and equivalents at end of period $ 1,030.4 $ 1,892.5

Organization

Organization9 Months Ended
Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization1. Organization Ceridian HCM Holding Inc. and its subsidiaries (also referred to in this report as “Ceridian,” “we,” “our,” and “us”) offer a broad range of services and software designed to help employers more effectively manage employment processes, such as payroll, payroll-related tax filing, human resource information systems, employee self-service, time and labor management, employee assistance programs, and recruitment and applicant screening. Our technology-based services are typically provided through long-term customer relationships that result in a high level of recurring revenue. Our operations are primarily located in the United States and Canada. On April 30, 2018, we completed our initial public offering ("IPO"), in which we issued and sold 21,000,000 shares of common stock at a public offering price of $22.00 per share. We granted the underwriters a 30-day option to purchase an additional 3,150,000 shares of common stock at the offering price, which was exercised in full. A total of 24,150,000 shares of common stock were issued and sold in our IPO. Concurrently with our IPO, we issued and sold an additional 4,545,455 shares of our common stock in a private placement at $22.00 per share. We received gross proceeds of $631.3 million from shares issued and sold in the IPO and concurrent private placement before deducting underwriting discounts, commissions, and other offering related expenses. Since our IPO, we have completed multiple secondary offerings, in which certain of our stockholders (the “Selling Stockholders”) have sold common stock in underwritten public offerings. All proceeds from the sale of this common stock went to the Selling Stockholders. Our secondary offerings are as follows:

12,650,000 shares of common stock sold at a public offering price of $36.00 per share on November 16, 2018

14,222,142 shares of common stock sold at a public offering price of $50.50 per share on March 22, 2019 (including 1,222,142 shares purchased pursuant to the underwriters’ option to purchase additional shares on April 3, 2019)

8,000,000 shares of common stock sold at a public offering price of $50.50 per share on May 23, 2019

10,000,000 shares of common stock sold at a public offering price of $49.75 per share on August 8, 2019

9,000,000 shares of common stock sold at a public offering price of $56.30 per share on September 6, 2019 During the three months ended September 30, 2019, we incurred $0.8 million of expenses related to our August 6, and September 4, 2019, secondary offerings. During the nine months ended September 30, 2019, we incurred $2.4 million

Summary of Significant Accounti

Summary of Significant Accounting Policies9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies2. Summary of Significant Accounting Policies Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” which replaced all existing revenue guidance created by Accounting Standards Codification (“ASC”) Topic 605, including prescriptive industry-specific guidance, and created ASC Topic 606 for revenue and ASC Subtopic 340-40 for incremental costs of obtaining a contract with customers. This standard’s core principle is that an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We have adopted ASU No. 2014-09 as of January 1, 2019, using the full retrospective method for adoption. Please refer to the tables below for the retrospective impacts of the adoption of this guidance. Adoption of the new standard resulted in changes to our accounting policies for revenue recognition, as detailed below. The adoption of the new standard resulted in changes to the classification and timing of our revenue recognition. Specifically, revenue classified as professional services and other revenue was increased, and revenue classified as recurring services revenue was reduced under the new standard, compared to ASC Topic 605. Adoption of the new standard also resulted in changes to the timing of our revenue recognition compared to ASC Topic 605 because professional services and other revenue is generally recognized earlier in the contract period than recurring services revenue. In compliance with the new standard, a contract asset is reflected on the consolidated balance sheets when revenue recognized for professional service performance obligations exceed the billings and is amortized over the contract period, which is generally three years. We also have changed the timing of certain selling, general, and administrative expenses, as the new standard required capitalizing and amortizing certain selling expenses, such as commissions and bonuses paid to the sales force. These sales expenses are now amortized over the period of benefit, which we have determined to be five years. In February 2016, the FASB issued ASU No. 2016-02, “Leases,” which is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. This standard requires balance sheet recognition for both finance leases and operating leases. In July 2018, the FASB issued ASU No. 2018-11 “Leases (Topic 842): Targeted Improvement,” which allowed an additional (and optional) transition method to adopt the new lease requirements. We have adopted ASU No. 2016-02 and ASU No. 2018-11 as of January 1, 2019, by recording a cumulative-effect adjustment to the opening balance of accumulated deficit on this date. Please refer to Note 15, “Leases,” for additional discussion of the impacts of adoption of this guidance. In November 2016, the FASB issued ASU No. 2016-18, “Restricted Cash,” which requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and restricted cash. We have adopted this guidance as of January 1, 2019, on a retrospective basis for all periods presented. Accordingly, the condensed consolidated statement of cash flows has been revised to include restricted cash and restricted cash equivalents held to satisfy customer trust funds obligations, as a component of cash, cash equivalents, restricted cash, and restricted cash equivalents. Please refer to the tables below for the retrospective impacts of the adoption of this guidance. In March 2017, the FASB issued ASU No. 2017-07, “Compensation—Retirement Benefits,” which aims to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The amendments in this update require that an employer (a) report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and (b) report the other components of net benefit cost in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. We have adopted this guidance as of January 1, 2019, on a retrospective basis for all periods presented. Please refer to the tables below for the retrospective impacts of the adoption of this guidance. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement—Reporting Comprehensive Income,” in response to a narrow-scope financial reporting issue that arose as a consequence of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). The amendment in this update allows entities to reclassify from accumulated other comprehensive income to retained earnings, the impact of the reduced federal statutory tax rate for corporations included in the Tax Act. We have adopted this guidance as of January 1, 2019, resulting in an increase in accumulated other comprehensive loss of $27.1 million, and a decrease in accumulated deficit for the same amount on our consolidated balance sheets. As of January 1, 2019, we have changed our policy for releasing income tax effects from accumulated other comprehensive loss to comply with this guidance, which is considered a change in accounting principle. We have adjusted our condensed consolidated financial statements from amounts previously reported due to the adoption of ASC Topic 606, ASU No. 2017-07, and ASU No. 2016-18. Please refer to our Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on May 21, 2019, for information on our adjusted consolidated balance sheet as of December 31, 2018. Selected condensed consolidated financial statement line items, which reflect the adoption of the new ASUs, are as follows:
Three Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2017-07 Adjustments
As adjusted
Condensed Consolidated Statement of Operations
(Dollars in millions, except per share data)
Revenue:
Recurring services
$
157.2
$
(7.7
)
$

$
149.5
Professional services and other
22.4
6.2

28.6
Total revenue
$
179.6
$
(1.5
)
$

$
178.1
Selling, general, and administrative expense
59.4
(1.5
)
(0.6
)
57.3
Operating profit
15.6

0.6
16.2
Other expense, net
0.3

0.6
0.9
Income tax benefit
(0.9
)
0.2

(0.7
)
Net income
$
4.4
$
(0.2
)
$

$
4.2
Net income per share, basic and diluted
$
0.03
$

$

$
0.03
Nine Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2017-07 Adjustments
As adjusted
Condensed Consolidated Statement of Operations
(Dollars in millions, except per share data)
Revenue:
Recurring services
$
480.8
$
(20.3
)
$

$
460.5
Professional services and other
65.3
20.1

85.4
Total revenue
$
546.1
$
(0.2
)
$

$
545.9
Selling, general, and administrative expense
200.3
(5.4
)
(1.8
)
193.1
Operating profit
28.8
5.2
1.8
35.8
Other income, net
(2.5
)

1.8
(0.7
)
Income tax expense
5.8
0.5

6.3
Net loss attributable to Ceridian
$
(63.2
)
$
4.7
$

$
(58.5
)
Net loss per share attributable to Ceridian, basic and diluted
$
(0.67
)
$
0.04
$

$
(0.63
)
Nine Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2016-18 Adjustments
As adjusted
Condensed Consolidated Statement of Cash Flows
(Dollars in millions)
Net loss
$
(63.7
)
$
4.7
$

$
(59.0
)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income tax benefit
(9.8
)
0.4

(9.4
)
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables
2.9
1.3

4.2
Prepaid expenses and other current assets
(3.0
)
(3.4
)

(6.4
)
Deferred revenue
2.8
2.0

4.8
Other assets and liabilities
(2.3
)
(5.0
)
(7.3
)
Net cash used in operating activities- continuing operations
(14.8
)


(14.8
)
Cash Flows from Investing Activities
Net change in restricted cash and other restricted assets held to satisfy customer trust funds obligations
610.1

(610.1
)

Net cash provided by (used in) investing activities
594.5

(610.1
)
(15.6
)
Effect of Exchange Rate Changes on Cash, Restricted Cash, and Equivalents
(1.5
)

(0.7
)
(2.2
)
Net increase (decrease) in cash, restricted cash, and equivalents
93.3

(613.1
)
(519.8
)
Elimination of cash from discontinued operations
0.5


0.5
Cash, restricted cash, and equivalents at beginning of period
94.2

2,317.6
2,411.8
Cash, restricted cash, and equivalents at end of period
$
188.0
$

$
1,704.5
$
1,892.5
Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accounting policies we follow are set forth in Note 2, “Summary of Significant Accounting Policies,” to our audited consolidated financial statements in our 2018 Form 10-K. The following notes should be read in conjunction with these policies and other disclosures in our 2018 Form 10-K. In the opinion of management, the unaudited condensed consolidated financial statements contained herein reflect all adjustments (consisting only of normal recurring adjustments, except as set forth in these notes to condensed consolidated financial statements) necessary to present fairly in all material aspects the financial position, results of operations, comprehensive loss, and cash flows from all periods presented. Interim results are not necessarily indicative of results for a full year. Internally Developed Software Costs In accordance with ASC Topic 350, we capitalize costs associated with software developed or obtained for internal use when both the preliminary project stage is completed and our management has authorized further funding for the project, which it deems probable of completion. Capitalized software costs include only: (1) external direct costs of materials and services consumed in developing or obtaining the software; (2) payroll and payroll-related costs for employees who are directly associated with and who devote time to the project; and (3) interest costs incurred while developing the software. Capitalization of these costs ceases no later than the point at which the project is substantially complete and ready for its intended purpose. We do not include general and administrative costs and overhead costs in capitalizable costs. We charge research and development costs and other software maintenance costs related to software development to earnings as incurred. Revenue Recognition The core principle of ASC Topic 606 is that revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. In accordance with ASC Topic 606, we perform the following steps to determine revenue to be recognized:
1)
Identify the contract(s) with a customer;
2)
Identify the performance obligations in the contract;
3)
Determine the transaction price;
4)
Allocate the transaction price to the performance obligations in the contract; and
5)
Recognize revenue when (or as) we satisfy a performance obligation. The significant majority of our two major revenue sources (recurring and professional services and other) are derived from contracts with customers. Recurring revenues are primarily related to our cloud subscription performance obligations. Professional services and other revenues are primarily related to professional services for our cloud customers (including implementation services to activate new accounts, as well as post-go live professional services typically billed on a time and materials basis) and, to a much lesser extent, fees for other non-recurring services, including sales of time clocks and certain client reimbursable out-of-pocket expenses. Fees charged to cloud subscription performance obligations are generally priced either on a per-employee-per-month (“PEPM”) basis for a given month or on a per-employee-per-process basis for a given process, both based on usage; and fees charged for professional services are typically priced on a fixed fee basis for activating new accounts and on a time and materials basis for post go-live professional services. Our recurring cloud subscription performance obligations are generally priced based on the number of active customer employees, as of the signing of the contract, at the contract PEPM rate over the initial contract term. Our professional services are generally based on a fixed fee charged to our customers for activating new accounts and on a time and materials basis for post go-live professional services. There is typically no variable consideration related to our recurring cloud subscriptions or our activation services, nor do they include a significant financing component, non-cash consideration, or consideration payable to a customer. Our recurring cloud subscriptions are typically billed one month in advance while our professional services are billed over the implementation period for activation of new accounts and as work is performed for post go-live professional services. Our cloud services arrangements include multiple performance obligations, and transaction price allocations are based on the stand-alone selling price ("SSP") for each performance obligation. Our contract renewal rates serve as an observable input to establish SSP for our recurring cloud subscription performance obligations. The SSP for professional services performance obligations is estimated based on market conditions and observable inputs, including rates charged by third parties to perform implementation services. For our performance obligations, the consideration allocated to cloud subscription revenues is recognized as recurring revenues, typically commencing with the date the customer processes their first live payroll using the solution (referred to as the "go-live" date). The consideration allocated to professional services to activate a new account is recognized as professional services revenues based on the proportion of total work performed, using reasonably dependable estimates (in relation to progression through the implementation phase), by solution. Deferred Costs Deferred costs primarily consist of deferred sales commissions. Sales commissions paid based on the annual contract value of a signed customer contract are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions paid based on the annual contract value are deferred and then amortized on a straight-line basis over a period of benefit that we have determined to be five years. Deferred costs included within Other assets on our condensed consolidated balance sheets were $91.0 million and $83.5 million as of September 30, 2019, and December 31, 2018, respectively. Amortization expense for the deferred costs was $8.1 million and $6.7 million for the three months ended September 30, 2019, and 2018, respectively, and $23.5 million and $19.2 million for the nine months ended September 30, 2019, and 2018, respectively. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-14, “Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. This update removes disclosures that are no longer considered cost beneficial, adds disclosures identified as relevant, and clarifies certain specific requirements of disclosures to improve the effectiveness of disclosures in the notes to financial statements. The amendments in this update are effective for public business entities for fiscal years ending after December 15, 2020. Early adoption is permitted. The amendments in this update should be applied on a retrospective basis to all periods presented. We are currently evaluating the impact of the adoption of this standard.

Discontinued Operations

Discontinued Operations9 Months Ended
Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations3. Discontinued Operations Distribution of LifeWorks Business In the second quarter of 2018, contemporaneously with our IPO and concurrent private placement, we distributed our controlling financial interest in LifeWorks Corporation Ltd (“LifeWorks”) to our stockholders of record prior to the IPO on a pro rata basis in accordance with their pro rata interests in us (the “LifeWorks Disposition”). At this time, the LifeWorks Disposition represented a strategic shift in our overall business and had a significant impact on the financial statement results. Therefore, the LifeWorks business has been presented as discontinued operations in the condensed consolidated financial statements and accompanying notes for all periods presented. Our net book value related to LifeWorks of $95.7 million was recorded as a distribution through additional paid in capital within our condensed consolidated balance sheet during the second quarter of 2018. The amounts in the table below reflect the operating results of LifeWorks reported as discontinued operations, as well as supplemental disclosures of the discontinued operations:
Three Months Ended September 30, 2018
Nine Months Ended September 30, 2018
(Dollars in millions)
Net revenues
$

$
28.3
Loss from operations before income taxes

(0.9
)
Income tax expense
(3.0
)
(13.9
)
Loss from discontinued operations, net of income taxes
$
(3.0
)
$
(14.8
)
Depreciation and amortization
$

$
1.4

Business Combinations

Business Combinations9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]
Business Combinations4. Business Combinations On September 6, 2019, we entered into a purchase agreement with the shareholders of Lusworth Holding Pty Ltd. (“RITEQ”), an Australian-based corporation, to acquire 100% of the issued and outstanding shares of RITEQ for approximately $19.4 million, subject to certain purchase price adjustments. RITEQ is a provider of workforce management solutions and operates within Australia, New Zealand, and the United Kingdom. The share purchase transaction was completed on September 13, 2019. The financial results of RITEQ have been included within our condensed consolidated financial statements as of the acquisition date. The acquisition of RITEQ was recorded using the acquisition method of accounting and recognized the assets and liabilities assumed at their fair value. As of September 30, 2019, we have conducted a preliminary assessment of certain assets and liabilities related to the acquisition of RITEQ. We are continuing our review of these items during the measurement period, and if new information is obtained about facts and circumstances that existed at the effective date of the acquisition, the acquisition accounting will be revised to reflect the resulting adjustments to current estimate of these items.

Fair Value Measurements

Fair Value Measurements9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements5. Fair Value Measurements Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis As of September 30, 2019, our financial assets and liabilities measured at fair value on a recurring basis were categorized as follows:
Total
Level 1
Level 2
Level 3
(Dollars in millions)
Assets
Available for sale customer trust funds assets
$
1,838.3
$

$
1,838.3
(a)
$

Total assets measured at fair value
$
1,838.3
$

$
1,838.3
$

As of December 31, 2018, our financial assets and liabilities measured at fair value on a recurring basis were categorized as follows:
Total
Level 1
Level 2
Level 3
(Dollars in millions)
Assets
Available for sale customer trust funds assets
$
1,715.0
$

$
1,715.0
(a)
$

Total assets measured at fair value
$
1,715.0
$

$
1,715.0
$

(a)
Fair value is based on inputs that are observable for the asset or liability, other than quoted prices. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis During the nine months ended September 30, 2019, and the year ended December 31, 2018, we did not re-measure any financial assets or liabilities at fair value on a nonrecurring basis.

Customer Trust Funds

Customer Trust Funds9 Months Ended
Sep. 30, 2019
Investments Debt And Equity Securities [Abstract]
Customer Trust Funds6. Customer Trust Funds Investment income from invested customer trust funds is a component of our compensation for providing services under agreements with our customers. Investment income from invested customer trust funds included in revenue was $18.3 million and $15.8 million for the three months ended September 30, 2019, and 2018, respectively, and $62.9 million and $49.6 million for the nine months ended September 30, 2019, and 2018, respectively. The amortized cost of customer trust funds as of September 30, 2019, and December 31, 2018, is the original cost of assets acquired. The amortized cost and fair values of investments of customer trust funds available for sale as of September 30, 2019, and December 31, 2018, are as follows: Investments of Customer Trust Funds at September 30, 2019
Amortized
Gross Unrealized
Fair
Cost
Gain
Loss
Value
(Dollars in millions)
Money market securities, investments carried at cost and other cash equivalents
$
751.9
$
751.9
Available for sale investments:
U.S. government and agency securities
578.6
9.1
(0.4
)
587.3
Canadian and provincial government securities
399.8
6.8
(0.2
)
406.4
Corporate debt securities
552.9
9.4
(0.4
)
561.9
Asset-backed securities
246.8
2.0
(0.4
)
248.4
Mortgage-backed securities
21.8
0.2

22.0
Other securities
12.2
0.1

12.3
Total available for sale investments
1,812.1
$
27.6
$
(1.4
)
1,838.3
Invested customer trust funds
2,564.0
$
27.6
$
(1.4
)
2,590.2
Trust receivables (a)
26.4
13.8
Total customer trust funds
$
2,590.4
$
2,604.0
(a)
The fair value of trust receivables as of September 30, 2019, includes a loss of $12.6 million related to unrecovered duplicate payments resulting from the September 26, 2019, isolated service incident. Ceridian is liable for these unrecovered duplicate payments and will reimburse the customer trust for the resulting losses. Please refer to Note 16, “Commitments and Contingencies,” for further discussion of the September 26, 2019, isolated service incident. Investments of Customer Trust Funds at December 31, 2018
Amortized
Gross Unrealized
Fair
Cost
Gain
Loss
Value
(Dollars in millions)
Money market securities, investments carried at cost and other cash equivalents
$
876.9
$

$

$
876.9
Available for sale investments:
U.S. government and agency securities
573.4
0.2
(11.4
)
562.2
Canadian and provincial government securities
392.5
3.4
(1.4
)
394.5
Corporate debt securities
495.0
0.5
(4.7
)
490.8
Asset-backed securities
247.1
0.2
(2.7
)
244.6
Mortgage-backed securities
8.5

(0.2
)
8.3
Other securities
14.7

(0.1
)
14.6
Total available for sale investments
1,731.2
4.3
(20.5
)
1,715.0
Invested customer trust funds
2,608.1
$
4.3
$
(20.5
)
2,591.9
Trust receivables
11.6
11.6
Total customer trust funds
$
2,619.7
$
2,603.5
The following represents the gross unrealized losses and the related fair value of the investments of customer trust funds available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019.
Less than 12 months
12 months or more
Total
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
(Dollars in millions)
U.S. government and agency securities
$
(0.1
)
$
42.9
$
(0.4
)
$
104.4
$
(0.5
)
$
147.3
Canadian and provincial government securities
(0.2
)
106.8


(0.2
)
106.8
Corporate debt securities
(0.2
)
65.5
(0.1
)
38.7
(0.3
)
104.2
Asset-backed securities
(0.3
)
59.9
(a)
34.0
(0.3
)
93.9
Mortgage-backed securities
(a)
0.1
(0.1
)
5.1
(0.1
)
5.2
Other securities


(a)
8.1

8.1
Total available for sale investments
$
(0.8
)
$
275.2
$
(0.6
)
$
190.3
$
(1.4
)
$
465.5
(a)
These investments have been in an unrealized loss position; however, the amount of unrealized loss is less than $0.05 million. Management does not believe that any individual unrealized loss as of September 30, 2019, represents an other-than-temporary impairment. The unrealized losses are primarily attributable to changes in interest rates and not to credit deterioration. We currently do not intend to sell or expect to be required to sell the securities before the time required to recover the amortized cost. The amortized cost and fair value of investment securities available for sale at September 30, 2019, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or to prepay obligations with or without call or prepayment penalties.
September 30, 2019
Cost
Fair Value
(Dollars in millions)
Due in one year or less
$
1,074.2
$
1,074.5
Due in one to three years
706.8
711.8
Due in three to five years
622.9
637.3
Due after five years
160.1
166.6
Invested customer trust funds
$
2,564.0
$
2,590.2

Goodwill and Intangible Assets

Goodwill and Intangible Assets9 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets7. Goodwill and Intangible Assets Goodwill Goodwill and changes therein were as follows for the nine months ended September 30, 2019, and the year ended December 31, 2018 (Dollars in millions):
Balance at December 31, 2017
$
1,961.0
Translation
(33.6
)
Balance at December 31, 2018
1,927.4
Acquisitions
21.9
Translation
11.9
Balance at September 30, 2019
$
1,961.2
Please refer to Note 4, “Business Combinations,” for further discussion of our RITEQ acquisition. Intangible Assets Other intangible assets consisted of the following as of September 30, 2019:
Gross Carrying Amount
Accumulated Amortization
Net
Estimated Life Range (Years)
(Dollars in millions)
Customer lists and relationships
$
212.9
$
(204.8
)
$
8.1
5-15
Trade name
173.9
(2.0
)
171.9
3 and Indefinite
Technology
155.1
(153.4
)
1.7
3-4
Total other intangible assets
$
541.9
$
(360.2
)
$
181.7
We perform an impairment assessment of our trade name intangible assets as of October 1 of each year. We continue to evaluate the use of our trade names and branding in our sales and marketing efforts. If there is a fundamental shift in the method of our branding in the future, we will assess the impact on the carrying amount of our trade name intangible assets and determine whether an impairment exists. If it is determined that an impairment has occurred, it would be recognized during the period in which the decision was made to make the fundamental shift. Other intangible assets consisted of the following as of December 31, 2018:
Gross Carrying Amount
Accumulated Amortization
Net
Estimated Life Range (Years)
(Dollars in millions)
Customer lists and relationships
$
205.4
$
(190.2
)
$
15.2
5-15
Trade name
173.5
(1.9
)
171.6

Technology
152.2
(151.5
)
0.7
3-4
Total other intangible assets
$
531.1
$
(343.6
)
$
187.5
Amortization expense related to definite-lived intangible assets was $4.7 million and $4.7 million for the three months ended September 30, 2019, and 2018, respectively, and $13.9 million and $14.0 million for the nine months ended September 30, 2019, and 2018, respectively.

Debt

Debt9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]
Debt8. Debt Overview Our debt obligations consisted of the following as of the periods presented:
September 30,
December 31,
2019
2018
(Dollars in millions)
Term Debt, interest rate of 5.0% and 5.8% as of September 30, 2019, and December 31, 2018, respectively
$
673.2
$
678.3
Revolving Credit Facility ($300.0 million available capacity less amounts reserved for letters of credit, which were $2.4 million and $2.7 million as of September 30, 2019, and December 31, 2018, respectively)


Canada Line of Credit (CDN $7.0 million letter of credit capacity as of September 30, 2019, and December 31, 2018, which was fully utilized; USD $5.3 million as of September 30, 2019, and USD $5.1 million as of December 31, 2018)


Total debt
673.2
678.3
Less unamortized discount on Term Debt
1.5
1.7
Less unamortized debt issuance costs on Senior Notes and Term Debt
5.6
6.3
Less current portion of long-term debt
6.8
6.8
Long-term debt, less current portion
$
659.3
$
663.5
Senior Secured Credit Facility On April 30, 2018, Ceridian completed the refinancing of its debt by entering into a new credit agreement. Pursuant to the terms of the new credit agreement, Ceridian became borrower of (i) a $680.0 million term loan debt facility (the “2018 Term Debt”) and (ii) a $300.0 million revolving credit facility (the “2018 Revolving Credit Facility”) (the 2018 Term Debt and the 2018 Revolving Credit Facility are together referred to as the “2018 Senior Secured Credit Facility”). The 2018 Senior Secured Credit Facility is secured by all assets of Ceridian. The 2018 Term Debt has a maturity date of April 30, 2025, and the 2018 Revolving Credit Facility has a maturity date of April 30, 2023. The 2018 Term Debt was initially subject to an interest rate of LIBOR plus 3.25%. As a result of a ratings upgrade on March 26, 2019, of our senior secured credit facilities by Moody’s Investors Service, from B3 to B2, the Company’s floating rate term debt interest rate is reduced from LIBOR plus 3.25% to LIBOR plus 3.00%, so long as the rating is maintained. In connection with the refinancing completed on April 30, 2018, we recognized a loss on debt extinguishment of $7.1 million within interest expense, net on our condensed consolidated statement of operations during the nine months ended September 30, 2018. Senior Notes Using the net proceeds received from the IPO and concurrent private placement, we satisfied and discharged the indenture governing our outstanding $475.0 million principal amount senior notes due 2021 (“Senior Notes”) on April 30, 2018, and the Senior Notes were redeemed on May 30, 2018. In connection with the redemption of the Senior Notes, we recognized a loss on debt extinguishment of $18.6 million within interest expense, net on our condensed consolidated statements of operations during the nine months ended September 30, 2018. Future Payments and Maturities of Debt The future principal payments and maturities of our debt are as follows:
Years Ending December 31,
Amount
(Dollars in millions)
2019
$
1.7
2020
6.8
2021
6.8
2022
6.8
2023
6.8
Thereafter
644.3
$
673.2
Fair Value of Debt Our debt does not trade in active markets. Based on the borrowing rates currently available to us for bank loans with similar terms and average maturities and the limited trades of our debt, the fair value of our debt was estimated to be $674.4 million and $649.5 million as of September 30, 2019, and December 31, 2018, respectively.

Employee Benefit Plans

Employee Benefit Plans9 Months Ended
Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans9. Employee Benefit Plans The components of net periodic cost for our defined benefit pension plan and for our postretirement benefit plan are included in the following tables:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
Net Periodic Pension Cost
(Dollars in millions)
Interest cost
$
4.5
$
4.1
$
13.6
$
12.3
Actuarial loss amortization
3.2
3.6
9.6
10.8
Less: Expected return on plan assets
(5.9
)
(6.5
)
(17.7
)
(19.5
)
Net periodic pension cost
$
1.8
$
1.2
$
5.5
$
3.6
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
Net Periodic Postretirement Benefit
(Dollars in millions)
Service benefit
$

$

$

$

Interest cost
0.2
0.1
0.4
0.3
Actuarial gain amortization
(0.6
)
(0.6
)
(1.8
)
(1.8
)
Prior service credit amortization
(0.1
)
(0.1
)
(0.2
)
(0.3
)
Net periodic postretirement benefit gain
$
(0.5
)
$
(0.6
)
$
(1.6
)
$
(1.8
)

Share-Based Compensation

Share-Based Compensation9 Months Ended
Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation10. Share-Based Compensation Prior to November 1, 2013, Ceridian employees participated in a share-based compensation plan of the former ultimate parent of Ceridian, the 2007 Stock Incentive Plan (“2007 SIP”). Effective November 1, 2013, although most participants who held stock options under the 2007 SIP converted their options to a newly created option plan, the 2013 Ceridian HCM Holding Inc. Stock Incentive Plan, as amended (“2013 SIP”), a small number of participants maintained their stock options in the 2007 SIP. Concurrent with the IPO and legal reorganization, all outstanding stock options under the 2007 SIP were converted into options to purchase common stock of Ceridian. As of September 30, 2019, there were 2,500 stock options outstanding under the 2007 SIP. Stock options awarded under the 2013 SIP vest either annually on a pro rata basis over a four- or five-year period or on a specific date if certain performance criteria are satisfied and certain equity values are attained. In addition, upon termination of service, all vested options must be exercised generally within 90 days after termination, or these awards will be forfeited. The stock option awards have a 10-year contractual term and have an exercise price that is not less than the fair market value of the underlying stock on the date of grant. As of September 30, 2019, there were 5,448,040 stock options and restricted stock units outstanding under the 2013 SIP. We do not intend to grant any additional awards under the 2007 SIP or the 2013 SIP. As part of the 2013 SIP, the Board of Directors approved a stock appreciation rights program that authorized the issuance of up to 600,000 stock appreciation rights. The performance criteria for all stock appreciation rights was met on April 30, 2018, resulting in the vesting and cash settlement of all outstanding stock appreciation rights. We recognized $1.5 million of share-based compensation related to the vesting of these stock appreciation rights during the nine months ended September 30, 2018. On April 24, 2018, in connection with the IPO, the Board of Directors approved the Ceridian HCM Holding Inc. 2018 Equity Incentive Plan (“2018 EIP”), which authorizes the issuance of up to 13,500,000 shares of common stock to eligible participants through equity awards. (the “Share Reserve”). The Share Reserve may be increased on March 31 of each of the first ten calendar years during the term of the 2018 EIP, by the lesser of (i) three percent of the number of shares of our common stock outstanding on each January 31 immediately prior to the data of increase or (ii) such number of shares of our common stock determined by the Board of Directors. On March 31, 2019, the Share Reserve was increased by three percent of the number of shares of common stock outstanding on January 31, 2019, or 4,196,193 shares. Equity awards under the 2018 EIP vest annually on a pro rata basis, generally over a four-year period. In addition, upon termination of service, all vested awards must be exercised within 90 days after termination, or these awards will be forfeited. The equity awards have a 10-year contractual term and have an exercise price that is not less than the fair market value of the underlying stock on the date of the grant. As of September 30, 2019, there were 9,041,226 stock options and restricted stock units outstanding and 8,654,967 shares available for future grants of equity awards under the 2018 EIP. On November 9, 2018, the Board of Directors approved the Ceridian HCM Holding Inc. Global Employee Stock Purchase Plan (the “GESPP”), and the Company’s stockholders approved the GESPP on May 1, 2019. The GESPP authorizes the issuance of up to 2,500,000 shares of common stock to eligible participants through purchases via payroll deductions. The purchase price is the lower of (i) 85% of the fair market value of a share of common stock on the offering date (the first trading day of the offering period commencing on January 1 and concluding on December 31) or (ii) 85% of the fair market value of a share of common stock on the purchase date. The GESPP shall continue for 10-years, unless terminated sooner as provided under the GESPP. During 2019, shares were purchased on June 28 and September 30 and will be purchased on December 31. In subsequent years, quarterly purchase periods will commence on January 1, April 1, July 1, and October 1. Shares will be purchased on the last trading day of the respective purchase periods. Total share-based compensation expense was $10.4 million and $4.8 million for three months ended September 30, 2019, and 2018, respectively, and $26.0 million and $19.5 million for the nine months ended September 30, 2019, and 2018, respectively. Performance-Based Stock Options Performance-based option activity under the 2007 SIP and the 2013 SIP for the period was as follows:
Shares
Weighted Average Exercise Price (per share)
Weighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in millions)
Performance-based options outstanding at December 31, 2018
366,377
$
13.50
3.1
$
7.7
Granted




Exercised
(290,319
)
(13.48
)


Forfeited or expired




Performance-based options outstanding at September 30, 2019
76,058
$
13.56
2.8
$
2.7
Performance-based options exercisable at September 30, 2019
76,058
$
13.56
2.8
$
2.7
The performance criteria for all outstanding performance-based stock options was met on June 7, 2018, resulting in the vesting of all outstanding performance-based stock options on this date. We recognized $4.8 million of share-based compensation expense related to the vesting of these performance-based stock options during the nine months ended September 30, 2018. As of September 30, 2019, there was no share-based compensation expense related to unvested performance-based stock options not yet recognized. Term-Based Stock Options Term-based option activity, including stock options under the 2007 SIP, the 2013 SIP and the 2018 EIP, for the period was as follows:
Shares
Weighted Average Exercise Price (per share)
Weighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in millions)
Term-based options outstanding at December 31, 2018
13,549,769
$
19.28
7.5
$
206.8
Granted
4,227,022
49.66


Exercised
(3,896,797
)
(17.34
)


Forfeited or expired
(262,923
)
(23.01
)


Term-based options outstanding at September 30, 2019
13,617,071
$
29.19
8.0
$
276.9
Term-based options exercisable at September 30, 2019
3,946,615
$
18.21
6.2
$
122.9
As of September 30, 2019, there was $91.2 million of share-based compensation expense related to unvested term-based awards not yet recognized, which is expected to be recognized over a weighted average period of 2.2 years. Restricted Stock Units Restricted stock units (“RSUs”) activity, including RSUs under the 2013 SIP and the 2018 EIP, for the period was as follows:
Shares
RSUs outstanding at December 31, 2018
664,073
Granted
168,958
Shares issued upon vesting of RSUs
(14,394
)
Forfeited or canceled
(20,000
)
RSUs outstanding at September 30, 2019
798,637
RSUs releasable at September 30, 2019
272,045
During the nine months ended September 30, 2019, 161,439 RSUs vested. As of September 30, 2019, there were 526,592 unvested RSUs outstanding and 272,045 vested RSUs outstanding. RSUs generally vest annually over a one-, three-, or four-year period. As of September 30, 2019, there was $14.2 million of share-based compensation expense related to unvested RSUs not yet recognized, which is expected to be recognized over a weighted average period of 2.1 years. Global Employee Stock Purchase Plan The first GESPP purchase period ended on June 30, 2019, resulting in the issuance of 114,627 shares of our common stock at a purchase price of $28.70 on June 28, 2019, the last trading day of the quarter. The second GESPP purchase period ended on September 30, 2019, resulting in the issuance of 68,785 shares of our common stock at a purchase price of $28.70. The fair value of the stock purchase rights granted under the GESPP was estimated using the following weighted-average assumptions:
Nine Months Ended September 30, 2019
Expected volatility
34.9
%
Expected dividend rate

Risk-free interest rate
2.3
%
Expected term (in years)
0.4
Grant date fair value per share
$
8.95

Revenue

Revenue9 Months Ended
Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue11. Revenue Our Solutions We currently categorize our solutions into two categories, Cloud and Bureau.

Cloud revenue is generated from solutions that are delivered via two cloud offerings, Dayforce and Powerpay. The Dayforce offering is differentiated from our market competition as being a single application with continuous calculation that offers a comprehensive range of functionality, including global HR, payroll, benefits, workforce management, and talent management on web and native iOS and Android platforms. Dayforce recurring revenue is primarily generated from monthly recurring fees charged on a per-employee, per-month (“PEPM”) basis and investment income generated from holding Dayforce customer funds in trust before funds are remitted to taxing authorities, Dayforce customer employees, or other third parties. Dayforce professional services and other revenue is primarily generated from implementation and post go-live professional services revenue. Other sources of Dayforce revenues include revenue from the sale, rental and maintenance of time clocks; revenue from the sale of third-party services; and billable travel expenses for Dayforce customers. The Powerpay offering is our solution designed primarily for small market Canadian customers, which typically have fewer than 20 employees. Powerpay recurring revenue is primarily generated from recurring fees charged on a per-employee, per-process basis and investment income generated from holding Powerpay customer funds in trust before funds are remitted to taxing authorities, Powerpay customer employees, or other third parties. Typical processes include the customer’s payroll runs, year-end tax packages, and delivery of customers’ remittance advices or checks. Powerpay professional services revenue is primarily generated from the setup of the Powerpay customer on their platform.

Bureau revenue is generated primarily from solutions delivered via a service-bureau model. These solutions are delivered via three primary service lines: payroll, payroll-related tax filing services, and outsourced human resource solutions. Revenue from payroll services is generated from recurring fees charged on a per-process basis. Typical processes include the customer’s payroll runs, year-end tax packages, and delivery of customers’ remittance advices or checks. In addition to customers who use our payroll services, certain customers use our tax filing services on a stand-alone basis. Our outsourced human resource solutions are tailored to meet the needs of individual customers, and entail our contracting to perform many of the duties of a customer’s human resources department, including payroll processing, time and labor management, performance management, and recruiting. We also perform individual services for customers, such as check printing, wage attachment and disbursement, and Affordable Care Act (“ACA”) management. Additional items included in Bureau revenue are fees for custom professional services to Bureau customers; investment income generated from holding Bureau customer funds in trust before funds are remitted to taxing authorities, Bureau customer employees, or other third parties; consulting services related to Bureau offerings; and revenue from the sale of third party services to Bureau customers. Disaggregation of Revenue
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
(Dollars in millions)
Revenue:
Cloud
Dayforce
Recurring services
$
109.4
$
82.5
$
314.7
$
237.9
Professional services and other
34.3
27.9
96.3
82.4
Total Dayforce revenue
143.7
110.4
411.0
320.3
Powerpay
Recurring services
21.6
21.0
64.0
64.7
Professional services and other
0.2
0.3
0.8
0.9
Total Powerpay revenue
21.8
21.3
64.8
65.6
Total Cloud revenue
165.5
131.7
475.8
385.9
Bureau
Recurring services
36.4
46.0
125.0
157.9
Professional services and other
0.4
0.4
1.5
2.1
Total Bureau revenue
36.8
46.4
126.5
160.0
Total revenue
$
202.3
$
178.1
$
602.3
$
545.9
Contract Balances The Company records a contract asset when revenue recognized for professional service performance obligations exceed the billings. Contract assets were $40.2 million and $40.0 million as of September 30, 2019, and December 31, 2018, respectively. Contract assets expected to be recognized in revenue within twelve months are included within Prepaid expenses and other current assets, with the remaining contract assets included within Other assets on our condensed consolidated balance sheets. Deferred Revenue Deferred revenue primarily consists of billings or payments received in advance of revenue recognition. The changes in deferred revenue were as follows:
Nine Months Ended September 30,
2019
2018
(Dollars in millions)
Deferred revenue, beginning of period
$
23.2
$
16.5
New billings
262.0
203.4
Revenue recognized
(258.0
)
(198.7
)
Deferred revenue, end of period
$
27.2
$
21.2
Transaction Price for Remaining Performance Obligations In accordance with ASC Topic 606, the following represents the aggregate amount of transaction price allocated to the remaining performance obligations that are unsatisfied as of the end of the reporting period. As of September 30, 2019, approximately $830.9 million of revenue is expected to be recognized over the next three years from remaining performance obligations, which represents contracted revenue for recurring services and fixed price professional services, primarily implementation services, that has not yet been recognized, including deferred revenue and unbilled amounts that will be recognized as revenue in future periods. In accordance with the practical expedient provided in ASC Topic 606, performance obligations that are billed and recognized as they are delivered, primarily professional services contracts that are on a time and materials basis, are excluded from the transaction price for remaining performance obligations disclosed above.

Supplementary Data to Statement

Supplementary Data to Statements of Operations9 Months Ended
Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplementary Data to Statements of Operations12. Supplementary Data to Statements of Operations Other expense, net for the three months ended September 30, 2019, consisted of net periodic benefit expense, excluding service cost, of $1.3 million and foreign currency translation expense of $0.3 million. Other expense, net for the three months ended September 30, 2018, consisted of net periodic benefit expense, excluding service cost, of $0.6 million and foreign currency translation expense of $0.3 million. Other expense, net for the nine months ended September 30, 2019, consisted of net periodic benefit expense, excluding service cost, of $3.9 million and foreign currency translation expense of $0.8 million. Other income, net for the nine months ended September 30, 2018, consisted of foreign currency translation income of $2.5 million and net periodic benefit expense, excluding service costs, of $1.8 million. For the nine months ended September 30, 2018, the foreign currency translation is primarily related to remeasurement gains and losses resulting from an intercompany payable of a U.S. subsidiary denominated in Canadian dollars. This intercompany payable was repaid in the second quarter of 2018.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss9 Months Ended
Sep. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss13. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss were as follows:
Foreign Currency Translation Adjustment
Unrealized Gain (Loss) from Invested Customer Trust Funds
Pension Liability Adjustment
Total
(Dollars in millions)
Balance as of December 31, 2018
$
(207.5
)
$
(18.3
)
$
(150.1
)
$
(375.9
)
Other comprehensive income (loss) before income taxes and reclassifications
17.3
42.3
(0.3
)
59.3
Income tax expense

(10.6
)
(1.8
)
(12.4
)
Reclassifications to earnings


7.8
7.8
Other comprehensive income
17.3
31.7
5.7
54.7
Cumulative-effect adjustment related to the adoption of ASU 2018-02 (Please refer to Note 2)

0.4
(27.5
)
(27.1
)
Balance as of September 30, 2019
$
(190.2
)
$
13.8
$
(171.9
)
$
(348.3
)

Income Taxes

Income Taxes9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes14. Income Taxes Our income tax provision represents federal, state, and international taxes on our income recognized for financial statement purposes and includes the effects of temporary differences between financial statement income and income recognized for tax return purposes. Deferred tax assets and liabilities are recorded for temporary differences between the financial reporting basis and the tax basis of assets and liabilities as adjusted for the expected benefits of utilizing net operating loss carryforwards. We record a valuation allowance to reduce our deferred tax assets to reflect the net deferred tax assets that we believe will be realized. In assessing the likelihood that we will be able to recover our deferred tax assets and the need for a valuation allowance, we consider all available evidence, both positive and negative, including historical levels of pre-tax book income, expiration of net operating losses, expectations and risks associated with estimates of future taxable income, and ongoing prudent and feasible tax planning strategies, as well as current tax laws. As of September 30, 2019, we determined that we no longer have a requirement to carry a full valuation allowance against our domestic deferred tax assets that are not offset by the reversal of deferred tax liabilities. As a result of this determination, we have released $65.8 million of the valuation allowance, which has a positive impact on our income tax provision. We recorded an income tax benefit of $57.5 million during the nine months ended September 30, 2019, consisting primarily of $65.8 million tax benefit from the release of our valuation allowance, a $5.9 million tax benefit attributable to stock option exercises, partially offset by $5.5 million of base erosion anti-abuse tax (“BEAT”) in the U.S., $6.6 million of income tax expense from foreign operations, and other tax expenses of $2.1 million. The total amount of unrecognized tax benefits as of September 30, 2019, and December 31, 2018, were $1.4 million, including $0.2 million of accrued interest, and $1.3 million, including $0.2 million of accrued interest, respectively. Of the total amount of unrecognized tax benefits as of September 30, 2019, $1.4 million represents the amount that, if recognized, would favorably impact our effective income tax rate. It is reasonable to expect that the amount of unrecognized tax benefits will change in the next twelve months; however, we do not expect the change to have a significant impact on our results of operations or financial condition. We file income tax returns in the U.S. federal jurisdiction, various states, and foreign jurisdictions. With a few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2015.

Leases

Leases9 Months Ended
Sep. 30, 2019
Leases [Abstract]
Leases15. Leases Our leases primarily consist of office space. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For leases beginning 2019 and later, we account for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) separately from the non-lease components (e.g., common-area maintenance costs). Most leases include options to renew, and the lease renewal is at our sole discretion. Therefore, the depreciable life of assets and leasehold improvements is limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We rent or sublease certain real estate to third parties. Our sublease portfolio mainly consists of operating leases for space within our office facilities. Supplemental balance sheet information related to leases were as follows:
Lease Type
Balance Sheet Classification
September 30, 2019
(Dollars in millions)
ASSETS
Operating lease assets
Trade and other receivables, net
$
2.7
Operating lease assets
Prepaid expenses and other current assets
1.3
Operating lease assets
Right of use lease asset
36.8
Total lease assets
$
40.8
LIABILITIES
Current
Operating lease liabilities
Short-term lease liabilities
13.3
Noncurrent
Operating lease liabilities
Long-term lease liabilities
31.8
Total lease liabilities
$
45.1
The components of lease expense were as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2019 ASC Topic 842
2018 ASC Topic 840
2019 ASC Topic 842
2018 ASC Topic 840
Lease Cost
(Dollars in millions)
Operating lease cost
$
4.2
$
4.5
$
12.6
$
14.5
Sublease income
(1.0
)
(1.4
)
(3.3
)
(4.7
)
Net lease cost
$
3.2
$
3.1
$
9.3
$
9.8
Maturities of operating lease liabilities is as follows for each period presented:
September 30, 2019
December 31, 2018
Years Ending December 31,
ASC Topic 842
ASC Topic 840
(Dollars in millions)
2019
$
4.0
$
13.6
2020
14.3
11.8
2021
10.3
7.7
2022
10.0
7.4
2023
8.2
6.2
Thereafter
12.4
9.4
Total lease payments (a)
$
59.2
$
56.1
Less: Interest
7.5

Present value of lease liabilities
$
51.7
$
56.1
(a)
Maturities of lease liabilities have not been reduced by minimum sublease rentals of $9.6 Weighted average remaining lease term and weighted average discount rate were as follows:
September 30, 2019
Weighted average remaining lease term (in years)
Operating leases
5.7
Weighted average discount rate
Operating leases
5.03
% We had operating cash outflows related to operating leases of $11.1

Commitments and Contingencies

Commitments and Contingencies9 Months Ended
Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies16. Commitments and Contingencies Unrecovered Duplicate Payments We identified an isolated service incident on September 26, 2019, that resulted in duplicate payments for certain of our U.S. payroll customers totaling $18.8 million. Through October 31, 2019, $12.6 million remained unrecovered, and we have recorded a loss for this amount within selling, general, and administrative expense in our condensed consolidated statement of operations for the period ended September 30, 2019. Our recovery efforts are ongoing, and future collections will be recognized as a reduction to selling, general, and administrative expense in the period recovered. Legal Matters We are subject to claims and a number of judicial and administrative proceedings considered normal in the course of our current and past operations, including employment-related disputes, contract disputes, disputes with our competitors, intellectual property disputes, government audits and proceedings, customer disputes, and tort claims. In some proceedings, the claimant seeks damages as well as other relief, which, if granted, would require substantial expenditures on our part. Our general terms and conditions in customer contracts frequently include a provision indicating that we will indemnify and hold our customers harmless from and against any and all claims alleging that the services and materials furnished by us violate any third party’s patent, trade secret, copyright or other intellectual property right. We are not aware of any material pending litigation concerning these indemnifications. Some of these matters raise difficult and complex factual and legal issues and are subject to many uncertainties, including the facts and circumstances of each particular action, and the jurisdiction, forum, and law under which each action is proceeding. Because of these complexities, final disposition of some of these proceedings may not occur for several years. As such, we are not always able to estimate the amount of our possible future liabilities, if any. There can be no certainty that we may not ultimately incur charges in excess of presently established or future financial accruals or insurance coverage. Although occasional adverse decisions or settlements may occur, it is management’s opinion that the final disposition of these proceedings will not, considering the merits of the claims and available resources or reserves and insurance, and based upon the facts and circumstances currently known, have a material adverse effect on our financial position or results of operations.

Related Party Transactions

Related Party Transactions9 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions17. Related Party Transactions Management Agreements Prior to our IPO, Ceridian was party to management agreements with affiliates of our sponsors, Fidelity National Financial, Inc. (“FNF”) and THL Managers VI, LLC (“THLM”). FNF assigned its management agreement to Cannae Holdings, LLC (“Cannae”) in November 2017. Pursuant to these management agreements, Cannae and THLM each, respectively, agreed to provide us with financial advisory, strategic, and general oversight services. These management agreements provided that we pay annual management fees to each of Cannae and THLM in an amount equal to the greater of (a) $0.9 million, or (b) 0.5 percent of Adjusted EBITDA. Adjusted EBITDA, for purposes of the management agreements, was EBITDA as defined in the 2014 Senior Secured Credit Facility, further adjusted to exclude the payments made pursuant to the management agreements and certain stock options or other equity compensation. We recorded a management fee expense in selling, general, and administrative expense of $12.0 million for the nine months ended September 30, 2018, related to these management agreements. In April 2018, the management agreements terminated upon consummation of our IPO. Upon termination, the management agreement provided that we pay a termination fee equal to the net present value of the management fee for a seven-year period, which was $11.3 million. Service and Vendor Related Agreements Ceridian is a party to a service agreement with CompuCom Systems, Inc. (“CompuCom”), an investment portfolio company of THL Partners. Pursuant to the service agreement, CompuCom agrees to provide us with service desk and desk side support services. Pursuant to this arrangement, we made payments to CompuCom totaling $0.4 Other Transactions On July 23, 2018, Ronald F. Clarke was appointed to our Board of Directors. Mr. Clarke has been the chief executive officer of FleetCor Technologies Inc. (“FleetCor Technologies”) since August 2000 and its chairman of the board of directors since March 2003. We provide services to FleetCor Technologies or one of its wholly owned affiliates through certain commercial arrangements entered into in the ordinary course of business, which include provision of Dayforce HCM services, reseller or referral arrangements whereby we resell or refer FleetCor Technologies services to its customers, and other administrative services. For these services, we have recorded revenue of $0.2 million and $0.5 million for the three months ended September 30, 2019, and 2018, respectively, and $0.6 million and $1.8 million for the nine months ended September 30, 2019, and 2018, respectively. We provide Dayforce and related services to The Stronach Group, for which we recorded revenue of We provide payroll-related tax filings services to FNF for which we recorded revenue of $0.1 million and $0.1 million for the three months ended September 30, 2019, and 2018, respectively, and $0.3 million and $0.3 million for the nine months ended September 30, 2019, and 2018, respectively. We provide Dayforce and related services to certain investment portfolio companies of THLM and Cannae. Revenue from these portfolio companies was as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
(Dollars in millions)
American Blue Ribbon Holdings, LLC
$
0.5
$
0.5
$
1.4
$
1.5
Essex Bargain Hunt Superstores
0.2
0.1
0.4
0.4
Guaranteed Rate
0.2

0.7
0.2
System One Holdings LLC

0.1

0.4
Philips Feed Services
0.1
0.1
0.2
0.2

Net Income (Loss) per Share

Net Income (Loss) per Share9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income (Loss) per Share18. Net Income (Loss) per Share We compute net income (loss) per share of common stock using the treasury stock method. Basic net income (loss) per share is computed by dividing net income (loss) attributable to Ceridian available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For the calculation of diluted net income (loss) per share, net income (loss) per share is adjusted by the effect of dilutive securities, including awards under our share-based compensation plans. Diluted net income (loss) per share is computed by dividing the resulting net income (loss) attributable to Ceridian available to common stockholders by the weighted-average number of fully diluted common shares outstanding. During the nine months ended September 30, 2018, our potential dilutive shares, such as stock options, RSUs, and shares of senior and junior convertible preferred stock were not included in the computation of diluted net loss per share as the effect of including these shares in the calculation would have been anti-dilutive. The numerators and denominators of the basic and diluted net income (loss) per share computations are calculated as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
*As Adjusted
*As Adjusted
(Dollars in millions, except share and per share data)
Numerator:
Net income (loss) attributable to Ceridian
$
62.7
$
4.2
$
80.2
$
(58.5
)
Less: Loss from discontinued operations

(3.0
)

(14.8
)
Net income (loss) from continuing operations attributable to Ceridian
62.7
7.2
80.2
(43.7
)
Less: Senior Preferred Stock dividends declared



7.7
Net income (loss) from continuing operations attributable to Ceridian available to common stockholders
$
62.7
$
7.2
$
80.2
$
(51.4
)
Denominator:
Weighted-average shares outstanding - basic
142,780,819
137,768,764
141,369,339
105,730,178
Effect of dilutive equity instruments
6,372,408
7,295,934
6,910,604

Weighted-average shares outstanding - diluted
149,153,227
145,064,698
148,279,943
105,730,178
Net income (loss) per share from continuing operations attributable to Ceridian - basic
$
0.44
$
0.05
$
0.57
$
(0.49
)
Net loss per share from discontinued operations - basic
$

$
(0.02
)
$

$
(0.14
)
Net income (loss) per share attributable to Ceridian - basic
$
0.44
$
0.03
$
0.57
$
(0.63
)
Net income (loss) per share from continuing operations attributable to Ceridian - diluted
$
0.42
$
0.05
$
0.54
$
(0.49
)
Net loss per share from discontinued operations - diluted
$

$
(0.02
)
$

$
(0.14
)
Net income (loss) per share attributable to Ceridian - diluted
$
0.42
$
0.03
$
0.54
$
(0.63
) The following potentially dilutive weighted-average shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
Senior convertible preferred stock



7,358,603
Junior convertible preferred stock



25,508,456
Stock options
4,185,519
148,370
3,099,587
14,127,557
Restricted stock units
11,957

12,821
561,836

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]
Recently Issued and Adopted Accounting PronouncementsRecently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” which replaced all existing revenue guidance created by Accounting Standards Codification (“ASC”) Topic 605, including prescriptive industry-specific guidance, and created ASC Topic 606 for revenue and ASC Subtopic 340-40 for incremental costs of obtaining a contract with customers. This standard’s core principle is that an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We have adopted ASU No. 2014-09 as of January 1, 2019, using the full retrospective method for adoption. Please refer to the tables below for the retrospective impacts of the adoption of this guidance. Adoption of the new standard resulted in changes to our accounting policies for revenue recognition, as detailed below. The adoption of the new standard resulted in changes to the classification and timing of our revenue recognition. Specifically, revenue classified as professional services and other revenue was increased, and revenue classified as recurring services revenue was reduced under the new standard, compared to ASC Topic 605. Adoption of the new standard also resulted in changes to the timing of our revenue recognition compared to ASC Topic 605 because professional services and other revenue is generally recognized earlier in the contract period than recurring services revenue. In compliance with the new standard, a contract asset is reflected on the consolidated balance sheets when revenue recognized for professional service performance obligations exceed the billings and is amortized over the contract period, which is generally three years. We also have changed the timing of certain selling, general, and administrative expenses, as the new standard required capitalizing and amortizing certain selling expenses, such as commissions and bonuses paid to the sales force. These sales expenses are now amortized over the period of benefit, which we have determined to be five years. In February 2016, the FASB issued ASU No. 2016-02, “Leases,” which is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. This standard requires balance sheet recognition for both finance leases and operating leases. In July 2018, the FASB issued ASU No. 2018-11 “Leases (Topic 842): Targeted Improvement,” which allowed an additional (and optional) transition method to adopt the new lease requirements. We have adopted ASU No. 2016-02 and ASU No. 2018-11 as of January 1, 2019, by recording a cumulative-effect adjustment to the opening balance of accumulated deficit on this date. Please refer to Note 15, “Leases,” for additional discussion of the impacts of adoption of this guidance. In November 2016, the FASB issued ASU No. 2016-18, “Restricted Cash,” which requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and restricted cash. We have adopted this guidance as of January 1, 2019, on a retrospective basis for all periods presented. Accordingly, the condensed consolidated statement of cash flows has been revised to include restricted cash and restricted cash equivalents held to satisfy customer trust funds obligations, as a component of cash, cash equivalents, restricted cash, and restricted cash equivalents. Please refer to the tables below for the retrospective impacts of the adoption of this guidance. In March 2017, the FASB issued ASU No. 2017-07, “Compensation—Retirement Benefits,” which aims to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The amendments in this update require that an employer (a) report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and (b) report the other components of net benefit cost in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. We have adopted this guidance as of January 1, 2019, on a retrospective basis for all periods presented. Please refer to the tables below for the retrospective impacts of the adoption of this guidance. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement—Reporting Comprehensive Income,” in response to a narrow-scope financial reporting issue that arose as a consequence of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). The amendment in this update allows entities to reclassify from accumulated other comprehensive income to retained earnings, the impact of the reduced federal statutory tax rate for corporations included in the Tax Act. We have adopted this guidance as of January 1, 2019, resulting in an increase in accumulated other comprehensive loss of $27.1 million, and a decrease in accumulated deficit for the same amount on our consolidated balance sheets. As of January 1, 2019, we have changed our policy for releasing income tax effects from accumulated other comprehensive loss to comply with this guidance, which is considered a change in accounting principle. We have adjusted our condensed consolidated financial statements from amounts previously reported due to the adoption of ASC Topic 606, ASU No. 2017-07, and ASU No. 2016-18. Please refer to our Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on May 21, 2019, for information on our adjusted consolidated balance sheet as of December 31, 2018. Selected condensed consolidated financial statement line items, which reflect the adoption of the new ASUs, are as follows:
Three Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2017-07 Adjustments
As adjusted
Condensed Consolidated Statement of Operations
(Dollars in millions, except per share data)
Revenue:
Recurring services
$
157.2
$
(7.7
)
$

$
149.5
Professional services and other
22.4
6.2

28.6
Total revenue
$
179.6
$
(1.5
)
$

$
178.1
Selling, general, and administrative expense
59.4
(1.5
)
(0.6
)
57.3
Operating profit
15.6

0.6
16.2
Other expense, net
0.3

0.6
0.9
Income tax benefit
(0.9
)
0.2

(0.7
)
Net income
$
4.4
$
(0.2
)
$

$
4.2
Net income per share, basic and diluted
$
0.03
$

$

$
0.03
Nine Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2017-07 Adjustments
As adjusted
Condensed Consolidated Statement of Operations
(Dollars in millions, except per share data)
Revenue:
Recurring services
$
480.8
$
(20.3
)
$

$
460.5
Professional services and other
65.3
20.1

85.4
Total revenue
$
546.1
$
(0.2
)
$

$
545.9
Selling, general, and administrative expense
200.3
(5.4
)
(1.8
)
193.1
Operating profit
28.8
5.2
1.8
35.8
Other income, net
(2.5
)

1.8
(0.7
)
Income tax expense
5.8
0.5

6.3
Net loss attributable to Ceridian
$
(63.2
)
$
4.7
$

$
(58.5
)
Net loss per share attributable to Ceridian, basic and diluted
$
(0.67
)
$
0.04
$

$
(0.63
)
Nine Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2016-18 Adjustments
As adjusted
Condensed Consolidated Statement of Cash Flows
(Dollars in millions)
Net loss
$
(63.7
)
$
4.7
$

$
(59.0
)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income tax benefit
(9.8
)
0.4

(9.4
)
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables
2.9
1.3

4.2
Prepaid expenses and other current assets
(3.0
)
(3.4
)

(6.4
)
Deferred revenue
2.8
2.0

4.8
Other assets and liabilities
(2.3
)
(5.0
)
(7.3
)
Net cash used in operating activities- continuing operations
(14.8
)


(14.8
)
Cash Flows from Investing Activities
Net change in restricted cash and other restricted assets held to satisfy customer trust funds obligations
610.1

(610.1
)

Net cash provided by (used in) investing activities
594.5

(610.1
)
(15.6
)
Effect of Exchange Rate Changes on Cash, Restricted Cash, and Equivalents
(1.5
)

(0.7
)
(2.2
)
Net increase (decrease) in cash, restricted cash, and equivalents
93.3

(613.1
)
(519.8
)
Elimination of cash from discontinued operations
0.5


0.5
Cash, restricted cash, and equivalents at beginning of period
94.2

2,317.6
2,411.8
Cash, restricted cash, and equivalents at end of period
$
188.0
$

$
1,704.5
$
1,892.5
Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-14, “Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. This update removes disclosures that are no longer considered cost beneficial, adds disclosures identified as relevant, and clarifies certain specific requirements of disclosures to improve the effectiveness of disclosures in the notes to financial statements. The amendments in this update are effective for public business entities for fiscal years ending after December 15, 2020. Early adoption is permitted. The amendments in this update should be applied on a retrospective basis to all periods presented. We are currently evaluating the impact of the adoption of this standard.
Basis of PresentationBasis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accounting policies we follow are set forth in Note 2, “Summary of Significant Accounting Policies,” to our audited consolidated financial statements in our 2018 Form 10-K. The following notes should be read in conjunction with these policies and other disclosures in our 2018 Form 10-K. In the opinion of management, the unaudited condensed consolidated financial statements contained herein reflect all adjustments (consisting only of normal recurring adjustments, except as set forth in these notes to condensed consolidated financial statements) necessary to present fairly in all material aspects the financial position, results of operations, comprehensive loss, and cash flows from all periods presented. Interim results are not necessarily indicative of results for a full year.
Internally Developed Software CostsInternally Developed Software Costs In accordance with ASC Topic 350, we capitalize costs associated with software developed or obtained for internal use when both the preliminary project stage is completed and our management has authorized further funding for the project, which it deems probable of completion. Capitalized software costs include only: (1) external direct costs of materials and services consumed in developing or obtaining the software; (2) payroll and payroll-related costs for employees who are directly associated with and who devote time to the project; and (3) interest costs incurred while developing the software. Capitalization of these costs ceases no later than the point at which the project is substantially complete and ready for its intended purpose. We do not include general and administrative costs and overhead costs in capitalizable costs. We charge research and development costs and other software maintenance costs related to software development to earnings as incurred.
Revenue RecognitionRevenue Recognition The core principle of ASC Topic 606 is that revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. In accordance with ASC Topic 606, we perform the following steps to determine revenue to be recognized:
1)
Identify the contract(s) with a customer;
2)
Identify the performance obligations in the contract;
3)
Determine the transaction price;
4)
Allocate the transaction price to the performance obligations in the contract; and
5)
Recognize revenue when (or as) we satisfy a performance obligation. The significant majority of our two major revenue sources (recurring and professional services and other) are derived from contracts with customers. Recurring revenues are primarily related to our cloud subscription performance obligations. Professional services and other revenues are primarily related to professional services for our cloud customers (including implementation services to activate new accounts, as well as post-go live professional services typically billed on a time and materials basis) and, to a much lesser extent, fees for other non-recurring services, including sales of time clocks and certain client reimbursable out-of-pocket expenses. Fees charged to cloud subscription performance obligations are generally priced either on a per-employee-per-month (“PEPM”) basis for a given month or on a per-employee-per-process basis for a given process, both based on usage; and fees charged for professional services are typically priced on a fixed fee basis for activating new accounts and on a time and materials basis for post go-live professional services. Our recurring cloud subscription performance obligations are generally priced based on the number of active customer employees, as of the signing of the contract, at the contract PEPM rate over the initial contract term. Our professional services are generally based on a fixed fee charged to our customers for activating new accounts and on a time and materials basis for post go-live professional services. There is typically no variable consideration related to our recurring cloud subscriptions or our activation services, nor do they include a significant financing component, non-cash consideration, or consideration payable to a customer. Our recurring cloud subscriptions are typically billed one month in advance while our professional services are billed over the implementation period for activation of new accounts and as work is performed for post go-live professional services. Our cloud services arrangements include multiple performance obligations, and transaction price allocations are based on the stand-alone selling price ("SSP") for each performance obligation. Our contract renewal rates serve as an observable input to establish SSP for our recurring cloud subscription performance obligations. The SSP for professional services performance obligations is estimated based on market conditions and observable inputs, including rates charged by third parties to perform implementation services. For our performance obligations, the consideration allocated to cloud subscription revenues is recognized as recurring revenues, typically commencing with the date the customer processes their first live payroll using the solution (referred to as the "go-live" date). The consideration allocated to professional services to activate a new account is recognized as professional services revenues based on the proportion of total work performed, using reasonably dependable estimates (in relation to progression through the implementation phase), by solution.
Deferred CostsDeferred Costs Deferred costs primarily consist of deferred sales commissions. Sales commissions paid based on the annual contract value of a signed customer contract are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions paid based on the annual contract value are deferred and then amortized on a straight-line basis over a period of benefit that we have determined to be five years. Deferred costs included within Other assets on our condensed consolidated balance sheets were $91.0 million and $83.5 million as of September 30, 2019, and December 31, 2018, respectively. Amortization expense for the deferred costs was $8.1 million and $6.7 million for the three months ended September 30, 2019, and 2018, respectively, and $23.5 million and $19.2 million for the nine months ended September 30, 2019, and 2018, respectively.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]
Impact of Adoption of ASC Topic 606, ASU 2017-07 and ASU 2016-18We have adjusted our condensed consolidated financial statements from amounts previously reported due to the adoption of ASC Topic 606, ASU No. 2017-07, and ASU No. 2016-18. Please refer to our Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on May 21, 2019, for information on our adjusted consolidated balance sheet as of December 31, 2018. Selected condensed consolidated financial statement line items, which reflect the adoption of the new ASUs, are as follows:
Three Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2017-07 Adjustments
As adjusted
Condensed Consolidated Statement of Operations
(Dollars in millions, except per share data)
Revenue:
Recurring services
$
157.2
$
(7.7
)
$

$
149.5
Professional services and other
22.4
6.2

28.6
Total revenue
$
179.6
$
(1.5
)
$

$
178.1
Selling, general, and administrative expense
59.4
(1.5
)
(0.6
)
57.3
Operating profit
15.6

0.6
16.2
Other expense, net
0.3

0.6
0.9
Income tax benefit
(0.9
)
0.2

(0.7
)
Net income
$
4.4
$
(0.2
)
$

$
4.2
Net income per share, basic and diluted
$
0.03
$

$

$
0.03
Nine Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2017-07 Adjustments
As adjusted
Condensed Consolidated Statement of Operations
(Dollars in millions, except per share data)
Revenue:
Recurring services
$
480.8
$
(20.3
)
$

$
460.5
Professional services and other
65.3
20.1

85.4
Total revenue
$
546.1
$
(0.2
)
$

$
545.9
Selling, general, and administrative expense
200.3
(5.4
)
(1.8
)
193.1
Operating profit
28.8
5.2
1.8
35.8
Other income, net
(2.5
)

1.8
(0.7
)
Income tax expense
5.8
0.5

6.3
Net loss attributable to Ceridian
$
(63.2
)
$
4.7
$

$
(58.5
)
Net loss per share attributable to Ceridian, basic and diluted
$
(0.67
)
$
0.04
$

$
(0.63
)
Nine Months Ended September 30, 2018
As previously reported
ASC Topic 606 Adjustments
ASU 2016-18 Adjustments
As adjusted
Condensed Consolidated Statement of Cash Flows
(Dollars in millions)
Net loss
$
(63.7
)
$
4.7
$

$
(59.0
)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income tax benefit
(9.8
)
0.4

(9.4
)
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables
2.9
1.3

4.2
Prepaid expenses and other current assets
(3.0
)
(3.4
)

(6.4
)
Deferred revenue
2.8
2.0

4.8
Other assets and liabilities
(2.3
)
(5.0
)
(7.3
)
Net cash used in operating activities- continuing operations
(14.8
)


(14.8
)
Cash Flows from Investing Activities
Net change in restricted cash and other restricted assets held to satisfy customer trust funds obligations
610.1

(610.1
)

Net cash provided by (used in) investing activities
594.5

(610.1
)
(15.6
)
Effect of Exchange Rate Changes on Cash, Restricted Cash, and Equivalents
(1.5
)

(0.7
)
(2.2
)
Net increase (decrease) in cash, restricted cash, and equivalents
93.3

(613.1
)
(519.8
)
Elimination of cash from discontinued operations
0.5


0.5
Cash, restricted cash, and equivalents at beginning of period
94.2

2,317.6
2,411.8
Cash, restricted cash, and equivalents at end of period
$
188.0
$

$
1,704.5
$
1,892.5

Discontinued Operations (Tables

Discontinued Operations (Tables)9 Months Ended
Sep. 30, 2019
LifeWorks [Member]
Schedule of Operating Results of Discontinued OperationsThe amounts in the table below reflect the operating results of LifeWorks reported as discontinued operations, as well as supplemental disclosures of the discontinued operations:
Three Months Ended September 30, 2018
Nine Months Ended September 30, 2018
(Dollars in millions)
Net revenues
$

$
28.3
Loss from operations before income taxes

(0.9
)
Income tax expense
(3.0
)
(13.9
)
Loss from discontinued operations, net of income taxes
$
(3.0
)
$
(14.8
)
Depreciation and amortization
$

$
1.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring BasisAs of September 30, 2019, our financial assets and liabilities measured at fair value on a recurring basis were categorized as follows:
Total
Level 1
Level 2
Level 3
(Dollars in millions)
Assets
Available for sale customer trust funds assets
$
1,838.3
$

$
1,838.3
(a)
$

Total assets measured at fair value
$
1,838.3
$

$
1,838.3
$

As of December 31, 2018, our financial assets and liabilities measured at fair value on a recurring basis were categorized as follows:
Total
Level 1
Level 2
Level 3
(Dollars in millions)
Assets
Available for sale customer trust funds assets
$
1,715.0
$

$
1,715.0
(a)
$

Total assets measured at fair value
$
1,715.0
$

$
1,715.0
$

(a)
Fair value is based on inputs that are observable for the asset or liability, other than quoted prices.

Customer Trust Funds (Tables)

Customer Trust Funds (Tables)9 Months Ended
Sep. 30, 2019
Investments Debt And Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Values of Investments of Customer Trust Funds Available for SaleInvestments of Customer Trust Funds at September 30, 2019
Amortized
Gross Unrealized
Fair
Cost
Gain
Loss
Value
(Dollars in millions)
Money market securities, investments carried at cost and other cash equivalents
$
751.9
$
751.9
Available for sale investments:
U.S. government and agency securities
578.6
9.1
(0.4
)
587.3
Canadian and provincial government securities
399.8
6.8
(0.2
)
406.4
Corporate debt securities
552.9
9.4
(0.4
)
561.9
Asset-backed securities
246.8
2.0
(0.4
)
248.4
Mortgage-backed securities
21.8
0.2

22.0
Other securities
12.2
0.1

12.3
Total available for sale investments
1,812.1
$
27.6
$
(1.4
)
1,838.3
Invested customer trust funds
2,564.0
$
27.6
$
(1.4
)
2,590.2
Trust receivables (a)
26.4
13.8
Total customer trust funds
$
2,590.4
$
2,604.0
(a)
The fair value of trust receivables as of September 30, 2019, includes a loss of $12.6 million related to unrecovered duplicate payments resulting from the September 26, 2019, isolated service incident. Ceridian is liable for these unrecovered duplicate payments and will reimburse the customer trust for the resulting losses. Please refer to Note 16, “Commitments and Contingencies,” for further discussion of the September 26, 2019, isolated service incident. Investments of Customer Trust Funds at December 31, 2018
Amortized
Gross Unrealized
Fair
Cost
Gain
Loss
Value
(Dollars in millions)
Money market securities, investments carried at cost and other cash equivalents
$
876.9
$

$

$
876.9
Available for sale investments:
U.S. government and agency securities
573.4
0.2
(11.4
)
562.2
Canadian and provincial government securities
392.5
3.4
(1.4
)
394.5
Corporate debt securities
495.0
0.5
(4.7
)
490.8
Asset-backed securities
247.1
0.2
(2.7
)
244.6
Mortgage-backed securities
8.5

(0.2
)
8.3
Other securities
14.7

(0.1
)
14.6
Total available for sale investments
1,731.2
4.3
(20.5
)
1,715.0
Invested customer trust funds
2,608.1
$
4.3
$
(20.5
)
2,591.9
Trust receivables
11.6
11.6
Total customer trust funds
$
2,619.7
$
2,603.5
Schedule of Unrealized Losses and Fair ValueThe following represents the gross unrealized losses and the related fair value of the investments of customer trust funds available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019.
Less than 12 months
12 months or more
Total
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
(Dollars in millions)
U.S. government and agency securities
$
(0.1
)
$
42.9
$
(0.4
)
$
104.4
$
(0.5
)
$
147.3
Canadian and provincial government securities
(0.2
)
106.8


(0.2
)
106.8
Corporate debt securities
(0.2
)
65.5
(0.1
)
38.7
(0.3
)
104.2
Asset-backed securities
(0.3
)
59.9
(a)
34.0
(0.3
)
93.9
Mortgage-backed securities
(a)
0.1
(0.1
)
5.1
(0.1
)
5.2
Other securities


(a)
8.1

8.1
Total available for sale investments
$
(0.8
)
$
275.2
$
(0.6
)
$
190.3
$
(1.4
)
$
465.5
(a)
These investments have been in an unrealized loss position; however, the amount of unrealized loss is less than $0.05 million.
Schedule of Amortized Cost and Fair Value of Investment Securities Available for Sale by Contractual MaturityThe amortized cost and fair value of investment securities available for sale at September 30, 2019, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or to prepay obligations with or without call or prepayment penalties.
September 30, 2019
Cost
Fair Value
(Dollars in millions)
Due in one year or less
$
1,074.2
$
1,074.5
Due in one to three years
706.8
711.8
Due in three to five years
622.9
637.3
Due after five years
160.1
166.6
Invested customer trust funds
$
2,564.0
$
2,590.2

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)9 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in GoodwillGoodwill and changes therein were as follows for the nine months ended September 30, 2019, and the year ended December 31, 2018 (Dollars in millions):
Balance at December 31, 2017
$
1,961.0
Translation
(33.6
)
Balance at December 31, 2018
1,927.4
Acquisitions
21.9
Translation
11.9
Balance at September 30, 2019
$
1,961.2
Schedule of Other Intangible AssetsOther intangible assets consisted of the following as of September 30, 2019:
Gross Carrying Amount
Accumulated Amortization
Net
Estimated Life Range (Years)
(Dollars in millions)
Customer lists and relationships
$
212.9
$
(204.8
)
$
8.1
5-15
Trade name
173.9
(2.0
)
171.9
3 and Indefinite
Technology
155.1
(153.4
)
1.7
3-4
Total other intangible assets
$
541.9
$
(360.2
)
$
181.7
Other intangible assets consisted of the following as of December 31, 2018:
Gross Carrying Amount
Accumulated Amortization
Net
Estimated Life Range (Years)
(Dollars in millions)
Customer lists and relationships
$
205.4
$
(190.2
)
$
15.2
5-15
Trade name
173.5
(1.9
)
171.6

Technology
152.2
(151.5
)
0.7
3-4
Total other intangible assets
$
531.1
$
(343.6
)
$
187.5

Debt (Tables)

Debt (Tables)9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt ObligationsOur debt obligations consisted of the following as of the periods presented:
September 30,
December 31,
2019
2018
(Dollars in millions)
Term Debt, interest rate of 5.0% and 5.8% as of September 30, 2019, and December 31, 2018, respectively
$
673.2
$
678.3
Revolving Credit Facility ($300.0 million available capacity less amounts reserved for letters of credit, which were $2.4 million and $2.7 million as of September 30, 2019, and December 31, 2018, respectively)


Canada Line of Credit (CDN $7.0 million letter of credit capacity as of September 30, 2019, and December 31, 2018, which was fully utilized; USD $5.3 million as of September 30, 2019, and USD $5.1 million as of December 31, 2018)


Total debt
673.2
678.3
Less unamortized discount on Term Debt
1.5
1.7
Less unamortized debt issuance costs on Senior Notes and Term Debt
5.6
6.3
Less current portion of long-term debt
6.8
6.8
Long-term debt, less current portion
$
659.3
$
663.5
Schedule of Future Principal Payments and Maturities of IndebtednessThe future principal payments and maturities of our debt are as follows:
Years Ending December 31,
Amount
(Dollars in millions)
2019
$
1.7
2020
6.8
2021
6.8
2022
6.8
2023
6.8
Thereafter
644.3
$
673.2

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)9 Months Ended
Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Components of Net Periodic Cost for Defined Benefit Pension Plan and for Postretirement Benefit PlanThe components of net periodic cost for our defined benefit pension plan and for our postretirement benefit plan are included in the following tables:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
Net Periodic Pension Cost
(Dollars in millions)
Interest cost
$
4.5
$
4.1
$
13.6
$
12.3
Actuarial loss amortization
3.2
3.6
9.6
10.8
Less: Expected return on plan assets
(5.9
)
(6.5
)
(17.7
)
(19.5
)
Net periodic pension cost
$
1.8
$
1.2
$
5.5
$
3.6
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
Net Periodic Postretirement Benefit
(Dollars in millions)
Service benefit
$

$

$

$

Interest cost
0.2
0.1
0.4
0.3
Actuarial gain amortization
(0.6
)
(0.6
)
(1.8
)
(1.8
)
Prior service credit amortization
(0.1
)
(0.1
)
(0.2
)
(0.3
)
Net periodic postretirement benefit gain
$
(0.5
)
$
(0.6
)
$
(1.6
)
$
(1.8
)

Share-Based Compensation (Table

Share-Based Compensation (Tables)9 Months Ended
Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Performance-Based Option ActivityPerformance-based option activity under the 2007 SIP and the 2013 SIP for the period was as follows:
Shares
Weighted Average Exercise Price (per share)
Weighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in millions)
Performance-based options outstanding at December 31, 2018
366,377
$
13.50
3.1
$
7.7
Granted




Exercised
(290,319
)
(13.48
)


Forfeited or expired




Performance-based options outstanding at September 30, 2019
76,058
$
13.56
2.8
$
2.7
Performance-based options exercisable at September 30, 2019
76,058
$
13.56
2.8
$
2.7
Summary of Term-Based Option ActivityTerm-based option activity, including stock options under the 2007 SIP, the 2013 SIP and the 2018 EIP, for the period was as follows:
Shares
Weighted Average Exercise Price (per share)
Weighted Average Remaining Contractual Term (in years)
Aggregate Intrinsic Value (in millions)
Term-based options outstanding at December 31, 2018
13,549,769
$
19.28
7.5
$
206.8
Granted
4,227,022
49.66


Exercised
(3,896,797
)
(17.34
)


Forfeited or expired
(262,923
)
(23.01
)


Term-based options outstanding at September 30, 2019
13,617,071
$
29.19
8.0
$
276.9
Term-based options exercisable at September 30, 2019
3,946,615
$
18.21
6.2
$
122.9
Summary of Restricted Stock Units ActivityRestricted stock units (“RSUs”) activity, including RSUs under the 2013 SIP and the 2018 EIP, for the period was as follows:
Shares
RSUs outstanding at December 31, 2018
664,073
Granted
168,958
Shares issued upon vesting of RSUs
(14,394
)
Forfeited or canceled
(20,000
)
RSUs outstanding at September 30, 2019
798,637
RSUs releasable at September 30, 2019
272,045
Summary of Fair Value of Stock Purchase Rights Granted under the Global Employee Stock Purchase Plan Estimated Using Weighted-Average AssumptionsThe fair value of the stock purchase rights granted under the GESPP was estimated using the following weighted-average assumptions:
Nine Months Ended September 30, 2019
Expected volatility
34.9
%
Expected dividend rate

Risk-free interest rate
2.3
%
Expected term (in years)
0.4
Grant date fair value per share
$
8.95

Revenue (Tables)

Revenue (Tables)9 Months Ended
Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of RevenueDisaggregation of Revenue
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
(Dollars in millions)
Revenue:
Cloud
Dayforce
Recurring services
$
109.4
$
82.5
$
314.7
$
237.9
Professional services and other
34.3
27.9
96.3
82.4
Total Dayforce revenue
143.7
110.4
411.0
320.3
Powerpay
Recurring services
21.6
21.0
64.0
64.7
Professional services and other
0.2
0.3
0.8
0.9
Total Powerpay revenue
21.8
21.3
64.8
65.6
Total Cloud revenue
165.5
131.7
475.8
385.9
Bureau
Recurring services
36.4
46.0
125.0
157.9
Professional services and other
0.4
0.4
1.5
2.1
Total Bureau revenue
36.8
46.4
126.5
160.0
Total revenue
$
202.3
$
178.1
$
602.3
$
545.9
Schedule of Changes in Deferred RevenueDeferred revenue primarily consists of billings or payments received in advance of revenue recognition. The changes in deferred revenue were as follows:
Nine Months Ended September 30,
2019
2018
(Dollars in millions)
Deferred revenue, beginning of period
$
23.2
$
16.5
New billings
262.0
203.4
Revenue recognized
(258.0
)
(198.7
)
Deferred revenue, end of period
$
27.2
$
21.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)9 Months Ended
Sep. 30, 2019
Equity [Abstract]
Components of Accumulated Other Comprehensive LossThe components of accumulated other comprehensive loss were as follows:
Foreign Currency Translation Adjustment
Unrealized Gain (Loss) from Invested Customer Trust Funds
Pension Liability Adjustment
Total
(Dollars in millions)
Balance as of December 31, 2018
$
(207.5
)
$
(18.3
)
$
(150.1
)
$
(375.9
)
Other comprehensive income (loss) before income taxes and reclassifications
17.3
42.3
(0.3
)
59.3
Income tax expense

(10.6
)
(1.8
)
(12.4
)
Reclassifications to earnings


7.8
7.8
Other comprehensive income
17.3
31.7
5.7
54.7
Cumulative-effect adjustment related to the adoption of ASU 2018-02 (Please refer to Note 2)

0.4
(27.5
)
(27.1
)
Balance as of September 30, 2019
$
(190.2
)
$
13.8
$
(171.9
)
$
(348.3
)

Leases (Tables)

Leases (Tables)9 Months Ended
Sep. 30, 2019
Leases [Abstract]
Supplemental Balance Sheet Information Related to LeasesSupplemental balance sheet information related to leases were as follows:
Lease Type
Balance Sheet Classification
September 30, 2019
(Dollars in millions)
ASSETS
Operating lease assets
Trade and other receivables, net
$
2.7
Operating lease assets
Prepaid expenses and other current assets
1.3
Operating lease assets
Right of use lease asset
36.8
Total lease assets
$
40.8
LIABILITIES
Current
Operating lease liabilities
Short-term lease liabilities
13.3
Noncurrent
Operating lease liabilities
Long-term lease liabilities
31.8
Total lease liabilities
$
45.1
Components of Lease ExpenseThe components of lease expense were as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2019 ASC Topic 842
2018 ASC Topic 840
2019 ASC Topic 842
2018 ASC Topic 840
Lease Cost
(Dollars in millions)
Operating lease cost
$
4.2
$
4.5
$
12.6
$
14.5
Sublease income
(1.0
)
(1.4
)
(3.3
)
(4.7
)
Net lease cost
$
3.2
$
3.1
$
9.3
$
9.8
Maturities of Operating Lease LiabilitiesMaturities of operating lease liabilities is as follows for each period presented:
September 30, 2019
December 31, 2018
Years Ending December 31,
ASC Topic 842
ASC Topic 840
(Dollars in millions)
2019
$
4.0
$
13.6
2020
14.3
11.8
2021
10.3
7.7
2022
10.0
7.4
2023
8.2
6.2
Thereafter
12.4
9.4
Total lease payments (a)
$
59.2
$
56.1
Less: Interest
7.5

Present value of lease liabilities
$
51.7
$
56.1
(a)
Maturities of lease liabilities have not been reduced by minimum sublease rentals of $9.6
Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount RateWeighted average remaining lease term and weighted average discount rate were as follows:
September 30, 2019
Weighted average remaining lease term (in years)
Operating leases
5.7
Weighted average discount rate
Operating leases
5.03
%

Related Party Transactions (Tab

Related Party Transactions (Tables)9 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]
Schedule of Revenue from Portfolio CompaniesWe provide Dayforce and related services to certain investment portfolio companies of THLM and Cannae. Revenue from these portfolio companies was as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
(Dollars in millions)
American Blue Ribbon Holdings, LLC
$
0.5
$
0.5
$
1.4
$
1.5
Essex Bargain Hunt Superstores
0.2
0.1
0.4
0.4
Guaranteed Rate
0.2

0.7
0.2
System One Holdings LLC

0.1

0.4
Philips Feed Services
0.1
0.1
0.2
0.2

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Numerators and Denominators of Basic and Diluted Net Income (Loss) per Share ComputationsThe numerators and denominators of the basic and diluted net income (loss) per share computations are calculated as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
*As Adjusted
*As Adjusted
(Dollars in millions, except share and per share data)
Numerator:
Net income (loss) attributable to Ceridian
$
62.7
$
4.2
$
80.2
$
(58.5
)
Less: Loss from discontinued operations

(3.0
)

(14.8
)
Net income (loss) from continuing operations attributable to Ceridian
62.7
7.2
80.2
(43.7
)
Less: Senior Preferred Stock dividends declared



7.7
Net income (loss) from continuing operations attributable to Ceridian available to common stockholders
$
62.7
$
7.2
$
80.2
$
(51.4
)
Denominator:
Weighted-average shares outstanding - basic
142,780,819
137,768,764
141,369,339
105,730,178
Effect of dilutive equity instruments
6,372,408
7,295,934
6,910,604

Weighted-average shares outstanding - diluted
149,153,227
145,064,698
148,279,943
105,730,178
Net income (loss) per share from continuing operations attributable to Ceridian - basic
$
0.44
$
0.05
$
0.57
$
(0.49
)
Net loss per share from discontinued operations - basic
$

$
(0.02
)
$

$
(0.14
)
Net income (loss) per share attributable to Ceridian - basic
$
0.44
$
0.03
$
0.57
$
(0.63
)
Net income (loss) per share from continuing operations attributable to Ceridian - diluted
$
0.42
$
0.05
$
0.54
$
(0.49
)
Net loss per share from discontinued operations - diluted
$

$
(0.02
)
$

$
(0.14
)
Net income (loss) per share attributable to Ceridian - diluted
$
0.42
$
0.03
$
0.54
$
(0.63
)
Schedule of Potentially Dilutive Weighted Average Shares Excluded from Calculation of Diluted Net Income (Loss) per ShareThe following potentially dilutive weighted-average shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive:
Three Months Ended September 30,
Nine Months Ended September 30,
2019
2018
2019
2018
Senior convertible preferred stock



7,358,603
Junior convertible preferred stock



25,508,456
Stock options
4,185,519
148,370
3,099,587
14,127,557
Restricted stock units
11,957

12,821
561,836

Organization - Additional Infor

Organization - Additional Information (Details) - USD ($) $ / shares in Units, $ in MillionsApr. 03, 2019Apr. 30, 2018Sep. 30, 2019Sep. 30, 2019Sep. 05, 2019Aug. 08, 2019May 23, 2019Mar. 22, 2019Dec. 31, 2018Nov. 16, 2018
Common stock shares issued24,150,000 143,835,394 143,835,394 139,453,710
Proceeds from shares issued in IPO and private placement $ 631.3
IPO [Member]
Shares issued21,000,000
Shares issued, price per share $ 22
Private Placement [Member]
Shares issued4,545,455
Shares issued, price per share $ 22
Underwriter [Member]
Stock option exercised3,150,000
Issuance of common stock upon exercise of options, shares1,222,142
Secondary Offering [Member]
Common stock shares issued9,000,000 10,000,000 8,000,000 14,222,142 12,650,000
Shares issued, price per share $ 56.30 $ 49.75 $ 50.50 $ 50.50 $ 36
Secondary Offering [Member] | Selling, General and Administrative Expense [Member]
Offering costs $ 0.8 $ 2.4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in MillionsJan. 01, 2019Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018Dec. 31, 2018
Significant Accounting Policies [Line Items]
Tax cuts and jobs act, reclassification from AOCI to retained earnings, tax effect $ 27.1
Amortization expense for the deferred costs $ 8.1 $ 6.7 $ 23.5 $ 19.2
Other Assets [Member]
Significant Accounting Policies [Line Items]
Deferred costs $ 91 $ 91 $ 83.5

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Impact of Adoption of ASUs on Condensed Consolidated Statement of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Revenue:
Total revenue $ 202.3 $ 178.1 $ 602.3 $ 545.9
Selling, general, and administrative expense82.3 57.3 217.8 193.1
Operating profit6.5 16.2 52.6 35.8
Other expense (income), net1.6 0.9 4.7 (0.7)
Income tax expense (benefit)(65.6)(0.7)(57.5)6.3
Net income (loss) attributable to Ceridian62.7 $ 4.2 80.2 $ (58.5)
Net income (loss) per share attributable to Ceridian, basic and diluted $ 0.03 $ (0.63)
Recurring Services [Member]
Revenue:
Total revenue167.4 $ 149.5 503.7 $ 460.5
Professional Services and Other [Member]
Revenue:
Total revenue $ 34.9 28.6 $ 98.6 85.4
As Previously Reported [Member]
Revenue:
Total revenue179.6 546.1
Selling, general, and administrative expense59.4 200.3
Operating profit15.6 28.8
Other expense (income), net0.3 (2.5)
Income tax expense (benefit)(0.9)5.8
Net income (loss) attributable to Ceridian $ 4.4 $ (63.2)
Net income (loss) per share attributable to Ceridian, basic and diluted $ 0.03 $ (0.67)
As Previously Reported [Member] | Recurring Services [Member]
Revenue:
Total revenue $ 157.2 $ 480.8
As Previously Reported [Member] | Professional Services and Other [Member]
Revenue:
Total revenue22.4 65.3
Accounting Standards Update 2014-09 [Member] | Adjustments [Member]
Revenue:
Total revenue(1.5)(0.2)
Selling, general, and administrative expense(1.5)(5.4)
Operating profit5.2
Income tax expense (benefit)0.2 0.5
Net income (loss) attributable to Ceridian(0.2) $ 4.7
Net income (loss) per share attributable to Ceridian, basic and diluted $ 0.04
Accounting Standards Update 2014-09 [Member] | Adjustments [Member] | Recurring Services [Member]
Revenue:
Total revenue(7.7) $ (20.3)
Accounting Standards Update 2014-09 [Member] | Adjustments [Member] | Professional Services and Other [Member]
Revenue:
Total revenue6.2 20.1
Accounting Standards Update 2017-07 [Member] | Adjustments [Member]
Revenue:
Selling, general, and administrative expense(0.6)(1.8)
Operating profit0.6 1.8
Other expense (income), net $ 0.6 $ 1.8

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Impact of Adoption of ASUs on Condensed Consolidated Statement of Cash Flows (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Jun. 30, 2019Mar. 31, 2019Sep. 30, 2018Jun. 30, 2018Mar. 31, 2018Sep. 30, 2019Sep. 30, 2018
Net loss $ 62.7 $ 6.3 $ 11.2 $ 4.2 $ (63.3) $ 0.1 $ 80.2 $ (59)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income tax benefit(75.9)(9.4)
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables(10.6)4.2
Prepaid expenses and other current assets(10.1)(6.4)
Deferred revenue2.6 4.8
Other assets and liabilities(6.6)(7.3)
Net cash used in operating activities- continuing operations24.6 (14.8)
Cash Flows from Investing Activities
Net cash provided by (used in) investing activities(124.8)(15.6)
Effect of Exchange Rate Changes on Cash, Restricted Cash, and Equivalents7.2 (2.2)
Net increase (decrease) in cash, restricted cash, and equivalents(75.9)(519.8)
Elimination of cash from discontinued operations0.5
Cash, restricted cash, and equivalents at beginning of period $ 1,106.3 2,411.8 1,106.3 2,411.8
Cash, restricted cash, and equivalents at end of period $ 1,030.4 1,892.5 $ 1,030.4 1,892.5
As Previously Reported [Member]
Net loss(63.7)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income tax benefit(9.8)
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables2.9
Prepaid expenses and other current assets(3)
Deferred revenue2.8
Other assets and liabilities(2.3)
Net cash used in operating activities- continuing operations(14.8)
Cash Flows from Investing Activities
Net change in restricted cash and other restricted assets held to satisfy customer trust funds obligations610.1
Net cash provided by (used in) investing activities594.5
Effect of Exchange Rate Changes on Cash, Restricted Cash, and Equivalents(1.5)
Net increase (decrease) in cash, restricted cash, and equivalents93.3
Elimination of cash from discontinued operations0.5
Cash, restricted cash, and equivalents at beginning of period94.2 94.2
Cash, restricted cash, and equivalents at end of period188 188
Accounting Standards Update 2014-09 [Member] | Adjustments [Member]
Net loss4.7
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income tax benefit0.4
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures:
Trade and other receivables1.3
Prepaid expenses and other current assets(3.4)
Deferred revenue2
Other assets and liabilities(5)
Accounting Standards Update 2016-18 [Member] | Adjustments [Member]
Cash Flows from Investing Activities
Net change in restricted cash and other restricted assets held to satisfy customer trust funds obligations(610.1)
Net cash provided by (used in) investing activities(610.1)
Effect of Exchange Rate Changes on Cash, Restricted Cash, and Equivalents(0.7)
Net increase (decrease) in cash, restricted cash, and equivalents(613.1)
Cash, restricted cash, and equivalents at beginning of period $ 2,317.6 2,317.6
Cash, restricted cash, and equivalents at end of period $ 1,704.5 $ 1,704.5

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018Jun. 30, 2018
Additional paid in capital $ 2,428.3 $ 2,325.6
LifeWorks [Member]
Additional paid in capital $ 95.7

Discontinued Operations - Suppl

Discontinued Operations - Supplemental Disclosure of Discontinued Operation (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2018Sep. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of income taxes $ (3) $ (14.8)
LifeWorks [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues28.3
Loss from operations before income taxes(0.9)
Income tax expense(3)(13.9)
Loss from discontinued operations, net of income taxes $ (3)(14.8)
Depreciation and amortization $ 1.4

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - RITEQ [Member] $ in MillionsSep. 06, 2019USD ($)
Business Acquisition [Line Items]
Percentage of voting interest100.00%
Purchase price $ 19.4

Fair Value Measurements - Asset

Fair Value Measurements - Asset and Liability Measured at Fair Value Measured on Recurring Basis (Detail) - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018
Assets
Available for sale customer trust funds assets $ 1,838.3 $ 1,715
Total assets measured at fair value1,838.3 1,715
Fair Value, Inputs, Level 2 [Member]
Assets
Available for sale customer trust funds assets[1]1,838.3 1,715
Total assets measured at fair value $ 1,838.3 $ 1,715
[1]Fair value is based on inputs that are observable for the asset or liability, other than quoted prices.

Customer Trust Fund - Additiona

Customer Trust Fund - Additional Information (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Investments Debt And Equity Securities [Abstract]
Investment income from invested customer trust fund included in revenue $ 18.3 $ 15.8 $ 62.9 $ 49.6

Customer Trust Fund - Investmen

Customer Trust Fund - Investment of Customer Trust Fund (Detail) - USD ($) $ in Millions9 Months Ended12 Months Ended
Sep. 30, 2019Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Money market securities, investments carried at cost and other cash equivalents, Fair Value $ 751.9 $ 876.9
Invested customer trust funds, Fair Value2,590.2 2,591.9
Trust receivables, Fair Value13.8 [1]11.6
Total customer trust funds, Fair Value2,604 2,603.5
Money market securities, investments carried at cost and other cash equivalents, Amortized Cost751.9 876.9
Invested customer trust funds, Amortized Cost2,564 2,608.1
Trust receivables, Amortized Cost26.4 11.6
Total customer trust funds, Amortized Cost2,590.4 2,619.7
Amortized Cost1,812.1 1,731.2
Gross Unrealized Gain27.6 4.3
Gross Unrealized Loss(1.4)(20.5)
Fair value1,838.3 1,715
U.S. Government and Agencies Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost578.6 573.4
Gross Unrealized Gain9.1 0.2
Gross Unrealized Loss(0.4)(11.4)
Fair value587.3 562.2
Canadian and Provincial Government Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost399.8 392.5
Gross Unrealized Gain6.8 3.4
Gross Unrealized Loss(0.2)(1.4)
Fair value406.4 394.5
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost552.9 495
Gross Unrealized Gain9.4 0.5
Gross Unrealized Loss(0.4)(4.7)
Fair value561.9 490.8
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost246.8 247.1
Gross Unrealized Gain2 0.2
Gross Unrealized Loss(0.4)(2.7)
Fair value248.4 244.6
Mortgage-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost21.8 8.5
Gross Unrealized Gain0.2
Gross Unrealized Loss(0.2)
Fair value22 8.3
Other Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost12.2 14.7
Gross Unrealized Gain0.1
Gross Unrealized Loss(0.1)
Fair value $ 12.3 $ 14.6
[1]The fair value of trust receivables as of September 30, 2019, includes a loss of $12.6 million related to unrecovered duplicate payments resulting from the September 26, 2019, isolated service incident. Ceridian is liable for these unrecovered duplicate payments and will reimburse the customer trust for the resulting losses. Please refer to Note 16, “Commitments and Contingencies,” for further discussion of the September 26, 2019, isolated service incident.

Customer Trust Fund - Investm_2

Customer Trust Fund - Investment of Customer Trust Fund (Parenthetical) (Detail) $ in MillionsSep. 30, 2019USD ($)
Isolated Service Incident [Member]
Debt Securities, Available-for-sale [Line Items]
Loss on unrecovered duplicate payments $ 12.6

Customer Trust Fund - Gross Unr

Customer Trust Fund - Gross Unrealized Losses and Related Fair Value of Investment (Detail) $ in MillionsSep. 30, 2019USD ($)
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Unrealized Losses $ (0.8)
Less than 12 months, Fair Value275.2
12 months or more, Unrealized Losses(0.6)
12 months or more, Fair Value190.3
Total, Unrealized Losses(1.4)
Total, Fair Value465.5
U.S. Government and Agencies Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Unrealized Losses(0.1)
Less than 12 months, Fair Value42.9
12 months or more, Unrealized Losses(0.4)
12 months or more, Fair Value104.4
Total, Unrealized Losses(0.5)
Total, Fair Value147.3
Canadian and Provincial Government Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Unrealized Losses(0.2)
Less than 12 months, Fair Value106.8
Total, Unrealized Losses(0.2)
Total, Fair Value106.8
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Unrealized Losses(0.2)
Less than 12 months, Fair Value65.5
12 months or more, Unrealized Losses(0.1)
12 months or more, Fair Value38.7
Total, Unrealized Losses(0.3)
Total, Fair Value104.2
Asset-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Unrealized Losses(0.3)
Less than 12 months, Fair Value59.9
12 months or more, Fair Value34
Total, Unrealized Losses(0.3)
Total, Fair Value93.9
Mortgage-backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value0.1
12 months or more, Unrealized Losses(0.1)
12 months or more, Fair Value5.1
Total, Unrealized Losses(0.1)
Total, Fair Value5.2
Other Securities [Member]
Debt Securities, Available-for-sale [Line Items]
12 months or more, Fair Value8.1
Total, Fair Value $ 8.1

Customer Trust Fund - Gross U_2

Customer Trust Fund - Gross Unrealized Losses and Related Fair Value of Investment (Parenthetical) (Detail) $ in ThousandsSep. 30, 2019USD ($)
Debt Securities, Available-for-sale [Line Items]
Unrealized losses, less than 12 months $ 800
Mortgage-backed Securities [Member] | Maximum [Member]
Debt Securities, Available-for-sale [Line Items]
Unrealized losses, less than 12 months $ 50

Customer Trust Fund - Amortized

Customer Trust Fund - Amortized Cost and Fair Value of Investment Security Available for Sale (Detail) - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]
Due in one year or less, Cost $ 1,074.2
Due in one to three years, Cost706.8
Due in three to five years, Cost622.9
Due after five years, Cost160.1
Invested customer trust funds, Cost2,564 $ 2,608.1
Due in one year or less, Fair Value1,074.5
Due in one to three years, Fair Value711.8
Due in three to five years, Fair Value637.3
Due after five years, Fair Value166.6
Invested customer trust funds, Fair Value $ 2,590.2 $ 2,591.9

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Goodwill (Detail) - USD ($) $ in Millions9 Months Ended12 Months Ended
Sep. 30, 2019Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Balance $ 1,927.4 $ 1,961
Acquisitions21.9
Translation11.9 (33.6)
Balance $ 1,961.2 $ 1,927.4

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Other Intangible Asset (Detail) - USD ($) $ in Millions9 Months Ended12 Months Ended
Sep. 30, 2019Dec. 31, 2018
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 541.9 $ 531.1
Accumulated Amortization(360.2)(343.6)
Net181.7 187.5
Trade Name [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount173.9 173.5
Accumulated Amortization(2)(1.9)
Net $ 171.9 171.6
Minimum [Member] | Trade Name [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Estimated Life Range (Years)3 years
Maximum [Member] | Trade Name [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Estimated Life Range (Years)Indefinite
Customer Lists and Relationships [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 212.9 205.4
Accumulated Amortization(204.8)(190.2)
Net $ 8.1 $ 15.2
Customer Lists and Relationships [Member] | Minimum [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Estimated Life Range (Years)5 years5 years
Customer Lists and Relationships [Member] | Maximum [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Estimated Life Range (Years)15 years15 years
Technology [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 155.1 $ 152.2
Accumulated Amortization(153.4)(151.5)
Net $ 1.7 $ 0.7
Technology [Member] | Minimum [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Estimated Life Range (Years)3 years3 years
Technology [Member] | Maximum [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Estimated Life Range (Years)4 years4 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense $ 4.7 $ 4.7 $ 13.9 $ 14

Debt - Schedule of Debt Obligat

Debt - Schedule of Debt Obligations (Detail) - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018
Debt Instrument [Line Items]
Total debt $ 673.2 $ 678.3
Less unamortized discount on Term Debt1.5 1.7
Less unamortized debt issuance costs on Senior Notes and Term Debt5.6 6.3
Less current portion of long-term debt6.8 6.8
Long-term debt, less current portion659.3 663.5
Term Debt [Member]
Debt Instrument [Line Items]
Total debt $ 673.2 $ 678.3

Debt - Schedule of Debt Oblig_2

Debt - Schedule of Debt Obligations (Parenthetical) (Detail) $ in Millions, $ in MillionsSep. 30, 2019USD ($)Sep. 30, 2019CAD ($)Dec. 31, 2018USD ($)Dec. 31, 2018CAD ($)
Term Debt [Member]
Debt Instrument [Line Items]
Interest rate on debt5.00%5.00%5.80%5.80%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available capacity $ 300
Revolving Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Available capacity2.4 $ 2.7
Canada Line of Credit [Member]
Debt Instrument [Line Items]
Available capacity $ 5.3 $ 5.1
Canada Line of Credit [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Available capacity $ 7 $ 7

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in MillionsMar. 26, 2019Apr. 30, 2018Sep. 30, 2019Sep. 30, 2018Dec. 31, 2017Dec. 31, 2018
Debt Instrument [Line Items]
Loss on debt extinguishment $ (25.7)
Fair value of our indebtedness $ 674.4 $ 649.5
As Previously Reported [Member]
Debt Instrument [Line Items]
Loss on debt extinguishment $ (7.1)
2018 Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available capacity for letters of credit300
Line of credit maturity dateApr. 30,
2023
2018 Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate descriptionFloating rate term debt interest rate is reduced from LIBOR plus 3.25% to LIBOR plus 3.00%
Accrued interest $ 0.1 $ 0.1
2018 Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate3.00%3.25%
2018 Term Debt [Member]
Debt Instrument [Line Items]
Debt instrument principal amount680
Term loan debt maturity periodApr. 30,
2025
2018 Term Debt [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate3.25%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument principal amount $ 475
Loss on debt extinguishment $ (18.6)
Debt instrument maturity year2021

Debt - Schedule of Future Princ

Debt - Schedule of Future Principal Payments and Maturities of Indebtedness (Detail) - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018
Debt Disclosure [Abstract]
2019 $ 1.7
20206.8
20216.8
20226.8
20236.8
Thereafter644.3
Total debt $ 673.2 $ 678.3

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Cost for Defined Benefit Pension Plan and for Postretirement Benefit Plan (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Net periodic cost (benefit gain) $ 3.9 $ 1.8
Defined Benefit Pension Plan [Member]
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost $ 4.5 $ 4.1 13.6 12.3
Actuarial loss (gain) amortization3.2 3.6 9.6 10.8
Less: Expected return on plan assets(5.9)(6.5)(17.7)(19.5)
Net periodic cost (benefit gain)1.8 1.2 5.5 3.6
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost0.2 0.1 0.4 0.3
Actuarial loss (gain) amortization(0.6)(0.6)(1.8)(1.8)
Prior service credit amortization(0.1)(0.1)(0.2)(0.3)
Net periodic cost (benefit gain) $ (0.5) $ (0.6) $ (1.6) $ (1.8)

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in MillionsJun. 28, 2019May 01, 2019Apr. 24, 2018Sep. 30, 2019Sep. 30, 2018Jun. 30, 2018Sep. 30, 2019Sep. 30, 2018Jun. 30, 2019Mar. 31, 2019Apr. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense $ 10.4 $ 4.8 $ 26 $ 19.5
Common stock, share Reserve4,196,193
Shares reserved for issuance increase percentage3.00%
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, shares28,695,455
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense4.8
Share-based compensation expense related to unvested stock options not yet recognized0 0
Term Based Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense related to unvested stock options not yet recognized $ 91.2 $ 91.2
Share-based compensation expense related to unvested awards expected to be recognized over a weighted average period2 years 2 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense related to unvested awards expected to be recognized over a weighted average period2 years 1 month 6 days
Stock options, vested161,439
Unvested restricted stock units outstanding526,592 526,592
Vested restricted stock units outstanding272,045 272,045
Share-based compensation expense related to unvested restricted stock units not yet recognized $ 14.2
Restricted Stock Units (RSUs) [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period1 year
Restricted Stock Units (RSUs) [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period3 years
Restricted Stock Units (RSUs) [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period4 years
HCM Stock Incentive Plan 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares outstanding2,500 2,500
HCM Stock Incentive Plan 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares outstanding5,448,040 5,448,040
Share based compensation arrangement by share based payment award exercise period after employment termination90 days
Stock option awards, contractual term10 years
HCM Stock Incentive Plan 2013 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized600,000
Share-based compensation expense $ 1.5
HCM Stock Incentive Plan 2013 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period4 years
HCM Stock Incentive Plan 2013 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period5 years
HCM Equity Incentive Plan 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares outstanding9,041,226 9,041,226
Restricted stock vesting period4 years
Share based compensation arrangement by share based payment award exercise period after employment termination90 days
Stock option awards, contractual term10 years
Number of shares authorized13,500,000
Shares available for future grants of equity awards8,654,967 8,654,967
HCM Global Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards, contractual term10 years
Description for purchase price of fair market value of common stockThe purchase price is the lower of (i) 85% of the fair market value of a share of common stock on the offering date (the first trading day of the offering period commencing on January 1 and concluding on December 31) or (ii) 85% of the fair market value of a share of common stock on the purchase date.
Percentage of fair market value of a share of common stock on offering date85.00%
Percentage of fair market value of share of common stock on purchase date85.00%
HCM Global Employee Stock Purchase Plan [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock, shares114,627 68,785
Share purchase price $ 28.70 $ 28.70 $ 28.70
HCM Global Employee Stock Purchase Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized2,500,000

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Performance-Based Option Activity (Detail) - Performance Shares [Member] - Share Based Compensation Plans [Member] - USD ($) $ / shares in Units, $ in Millions9 Months Ended12 Months Ended
Sep. 30, 2019Dec. 31, 2018
Shares
Options Outstanding at Beginning of Period366,377
Options, Granted0
Options, Exercised(290,319)
Options, Forfeited or expired0
Options Outstanding at End of Period76,058 366,377
Options Exercisable at End of Period76,058
Weighted Average Exercise Price (per share)
Weighted Average Exercise Price at Beginning of Period $ 13.50
Weighted Average Exercise Price, Granted0
Weighted Average Exercise Price, Exercised(13.48)
Weighted Average Exercise Price, Forfeited or expired0
Weighted Average Exercise Price at End of Period13.56 $ 13.50
Weighted Average Exercise Price Exercisable at End of Period $ 13.56
Weighted Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Term (in years)2 years 9 months 18 days3 years 1 month 6 days
Weighted Average Remaining Contractual Term Exercisable (in years)2 years 9 months 18 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Options Outstanding $ 2.7 $ 7.7
Aggregate Intrinsic Value, Options Exercisable $ 2.7

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Term-Based Option Activity (Detail) - Term Based Stock Options [Member] - Share Based Compensation Plans [Member] - USD ($) $ / shares in Units, $ in Millions9 Months Ended12 Months Ended
Sep. 30, 2019Dec. 31, 2018
Shares
Options Outstanding at Beginning of Period13,549,769
Options, Granted4,227,022
Options, Exercised(3,896,797)
Options, Forfeited or expired(262,923)
Options Outstanding at End of Period13,617,071 13,549,769
Options Exercisable at End of Period3,946,615
Weighted Average Exercise Price (per share)
Weighted Average Exercise Price at Beginning of Period $ 19.28
Weighted Average Exercise Price, Granted49.66
Weighted Average Exercise Price, Exercised(17.34)
Weighted Average Exercise Price, Forfeited or expired(23.01)
Weighted Average Exercise Price at End of Period29.19 $ 19.28
Weighted Average Exercise Price Exercisable at End of Period $ 18.21
Weighted Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Term (in years)8 years7 years 6 months
Weighted Average Remaining Contractual Term Exercisable (in years)6 years 2 months 12 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Options Outstanding $ 276.9 $ 206.8
Aggregate Intrinsic Value, Options Exercisable $ 122.9

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member]9 Months Ended
Sep. 30, 2019shares
Restricted Stock Units
RSUs, Shares issued upon vesting of RSUs(161,439)
RSUs outstanding at End of Period526,592
Share Based Compensation Plans [Member]
Restricted Stock Units
RSUs outstanding at Beginning of Period664,073
RSUs, Granted168,958
RSUs, Shares issued upon vesting of RSUs(14,394)
RSUs, Forfeited or canceled(20,000)
RSUs outstanding at End of Period798,637
RSUs releasable at End of Period272,045

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Fair Value of Stock Purchase Rights Granted under the Global Employee Stock Purchase Plan Estimated Using Weighted-Average Assumptions (Detail) - HCM Global Employee Stock Purchase Plan [Member]9 Months Ended
Sep. 30, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility34.90%
Risk-free interest rate2.30%
Expected term (in years)4 months 24 days
Grant date fair value per share $ 8.95

Revenue - Additional Informatio

Revenue - Additional Information (Detail) $ in Millions9 Months Ended
Sep. 30, 2019USD ($)CloudofferingEmployeeServiceDec. 31, 2018USD ($)
Revenue [Line Items]
Contract asset | $ $ 40.2 $ 40
Remaining performance obligation, description of practical expedientIn accordance with the practical expedient provided in ASC Topic 606, performance obligations that are billed and recognized as they are delivered, primarily professional services contracts that are on a time and materials basis, are excluded from the transaction price for remaining performance obligations disclosed above.
Cloud Revenue [Member]
Revenue [Line Items]
Number of cloud offering delivering solution | Cloudoffering2
Powerpay [Member] | Maximum [Member]
Revenue [Line Items]
Number of employees generating revenue from recurring fees | Employee20
Bureau Revenue [Member]
Revenue [Line Items]
Number of primary service lines delivering solutions | Service3

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Total revenue $ 202.3 $ 178.1 $ 602.3 $ 545.9
Cloud Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue165.5 131.7 475.8 385.9
Cloud Dayforce Recurring Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue109.4 82.5 314.7 237.9
Cloud Dayforce Professional Services and Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue34.3 27.9 96.3 82.4
Cloud Dayforce Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue143.7 110.4 411 320.3
Bureau Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue36.8 46.4 126.5 160
Cloud Powerpay Recurring Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue21.6 21 64 64.7
Cloud Powerpay Professional Services and Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue0.2 0.3 0.8 0.9
Cloud Powerpay Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue21.8 21.3 64.8 65.6
Bureau Recurring Services Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue36.4 46 125 157.9
Bureau Professional Services and Other Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue $ 0.4 $ 0.4 $ 1.5 $ 2.1

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Deferred Revenue (Detail) - USD ($) $ in Millions9 Months Ended
Sep. 30, 2019Sep. 30, 2018
Revenue From Contract With Customer [Abstract]
Deferred revenue, beginning of period $ 23.2 $ 16.5
New billings262 203.4
Revenue recognized(258)(198.7)
Deferred revenue, end of period $ 27.2 $ 21.2

Revenue - Additional Informat_2

Revenue - Additional Information 1 (Detail) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01 $ in MillionsSep. 30, 2019USD ($)
Revenue [Line Items]
Remaining performance obligations recognition period3 years
Revenue expected to be recognized, amount $ 830.9

Supplementary Data to Stateme_2

Supplementary Data to Statements of Operations - Additional Information (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Foreign currency translation income (expense) $ (0.3) $ (0.3) $ (0.8) $ 2.5
Net periodic benefit expense, excluding service cost $ 1.3 $ 0.6 $ 3.9 $ 1.8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Mar. 31, 2019Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance $ 1,615.5 $ 1,615.5
Other comprehensive income (loss) before income taxes and reclassifications59.3
Income tax expense(12.4)
Reclassifications to earnings7.8
Other comprehensive income54.7
Ending balance1,686.8 1,853.1
ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative-effect adjustment related to the adoption of ASU 2018-02 (Please refer to Note 2)(27.1)
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(207.5)(207.5)
Other comprehensive income (loss) before income taxes and reclassifications17.3
Other comprehensive income17.3
Ending balance(190.2)
Unrealized Gain (Loss) from Invested Customer Trust Funds [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(18.3)(18.3)
Other comprehensive income (loss) before income taxes and reclassifications42.3
Income tax expense(10.6)
Other comprehensive income31.7
Ending balance13.8
Unrealized Gain (Loss) from Invested Customer Trust Funds [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative-effect adjustment related to the adoption of ASU 2018-02 (Please refer to Note 2)0.4
Pension Liability Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(150.1)(150.1)
Other comprehensive income (loss) before income taxes and reclassifications(0.3)
Income tax expense(1.8)
Reclassifications to earnings7.8
Other comprehensive income5.7
Ending balance(171.9)
Pension Liability Adjustment [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative-effect adjustment related to the adoption of ASU 2018-02 (Please refer to Note 2)(27.5)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance(375.9)(375.9)
Ending balance(369) $ (348.3)
Accumulated Other Comprehensive Income (Loss) [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative-effect adjustment related to the adoption of ASU 2018-02 (Please refer to Note 2) $ (27.1)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018Dec. 31, 2018
Income Taxes [Line Items]
Valuation allowance $ 65.8 $ 65.8
Income tax expense (benefit)(65.6) $ (0.7)(57.5) $ 6.3
Other tax expenses2.1
Unrecognized tax benefits1.4 1.4 $ 1.3
Accrued Interest included in unrecognized tax benefits0.2 0.2 $ 0.2
Unrecognized tax benefits if recognized would impact on effective income tax rate1.4 $ 1.4
Income tax examination descriptionWith a few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2015.
Stock Options [Member]
Income Taxes [Line Items]
Income tax expense (benefit) $ (5.9)
Base Erosion and Anti-Abuse Tax ("BEAT") [Member]
Income Taxes [Line Items]
Income tax expense (benefit)5.5
State [Member]
Income Taxes [Line Items]
Valuation allowance $ 17.4 17.4
Foreign Operations [Member]
Income Taxes [Line Items]
Income tax expense (benefit) $ 6.6

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions9 Months Ended
Sep. 30, 2019USD ($)
Leases [Abstract]
Maximum initial term of leases which are not recorded on balance sheet12 months
Operating cash flows from operating leases $ 11.1

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Detail) $ in MillionsSep. 30, 2019USD ($)
Operating Leased Assets [Line Items]
Total lease assets $ 40.8
Operating lease liability current $ 13.3
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]cday:ShortTermLeaseLiabilitiesMember
Operating lease liability noncurrent $ 31.8
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]cday:LongTermLeaseLiabilitiesMember
Total lease liabilities $ 45.1
Trade And Other Receivables Net
Operating Leased Assets [Line Items]
Total lease assets2.7
Prepaid Expenses and Other Current Assets
Operating Leased Assets [Line Items]
Total lease assets1.3
Right Of Use Lease Asset
Operating Leased Assets [Line Items]
Total lease assets $ 36.8

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Detail) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Lease Cost
Operating lease cost $ 4.2 $ 12.6
Operating lease cost $ 4.5 $ 14.5
Sublease income(1)(3.3)
Sublease income(1.4)(4.7)
Net lease cost $ 3.2 $ 9.3
Net lease cost $ 3.1 $ 9.8

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in MillionsSep. 30, 2019Dec. 31, 2018
Operating Leases
2019 $ 4
202014.3
202110.3
202210
20238.2
Thereafter12.4
Total lease payments[1]59.2
Less: Interest7.5
Present value of lease liabilities $ 51.7
2019 $ 13.6
202011.8
20217.7
20227.4
20236.2
Thereafter9.4
Total lease payments[1] $ 56.1
[1]Maturities of lease liabilities have not been reduced by minimum sublease rentals of $9.6 million due in the future under noncancellable subleases.

Leases - Maturities of Operat_2

Leases - Maturities of Operating Lease Liabilities (Parenthetical) (Detail) $ in MillionsSep. 30, 2019USD ($)
Leases [Abstract]
Minimum sublease rentals under noncancallable subleases $ 9.6

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Detail)Sep. 30, 2019
Leases [Abstract]
Operating leases, weighted average remaining lease term5 years 8 months 12 days
Operating leases, weighted average discount rate5.03%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Isolated Service Incident [Member] - USD ($) $ in MillionsSep. 30, 2019Oct. 31, 2019Sep. 26, 2019
Commitments And Contingencies [Line Items]
Duplicate payments for payroll customers $ 18.8
Loss on unrecovered duplicate payments $ 12.6
Subsequent Event [Member] | Selling, General and Administrative Expense [Member]
Commitments And Contingencies [Line Items]
Loss on unrecovered duplicate payments $ 12.6

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions1 Months Ended3 Months Ended9 Months Ended
Apr. 30, 2018Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Cannae and THLM [Member]
Related Party Transaction [Line Items]
Management fees descriptionAmount equal to the greater of (a) $0.9 million, or (b) 0.5 percent of Adjusted EBITDA.
Management fee under condition one $ 0.9
Management fee percentage of EBITDA under condition two0.50%
Management fee $ 12
Number of years for which present value of the management fee to be paid in case of agreement termination7 years
Management agreement termination fee $ 11.3
CompuCom Systems, Inc. [Member]
Related Party Transaction [Line Items]
Payment to service provider $ 0.4 $ 0.6 $ 1.3 1.3
Fleet Cor Technologies Or Wholly Owned Affiliates [Member] | Dayforce HCM Services, Reseller/Referral Arrangement [Member]
Related Party Transaction [Line Items]
Revenue from related parties0.2 0.5 0.6 1.8
The Stronach Group [Member] | Dayforce [Member]
Related Party Transaction [Line Items]
Revenue from related parties0.1 0.2 0.2
FNF [Member] | Payroll-Related Tax Filings Services [Member]
Related Party Transaction [Line Items]
Revenue from related parties $ 0.1 $ 0.1 $ 0.3 $ 0.3

Related Party Transactions - Sc

Related Party Transactions - Schedule of Revenue from Portfolio Companies (Detail) - Dayforce [Member] - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
American Blue Ribbon Holdings, LLC [Member]
Related Party Transaction [Line Items]
Revenue from related parties $ 0.5 $ 0.5 $ 1.4 $ 1.5
Essex Bargain Hunt Superstores [Member]
Related Party Transaction [Line Items]
Revenue from related parties0.2 0.1 0.4 0.4
Guaranteed Rate [Member]
Related Party Transaction [Line Items]
Revenue from related parties0.2 0.7 0.2
System One Holdings LLC [Member]
Related Party Transaction [Line Items]
Revenue from related parties0.1 0.4
Phillips Feed Services [Member]
Related Party Transaction [Line Items]
Revenue from related parties $ 0.1 $ 0.1 $ 0.2 $ 0.2

Net Income (Loss) per Share - S

Net Income (Loss) per Share - Schedule of Numerators and Denominators of Basic and Diluted Net Income (Loss) per Share Computations (Detail) - USD ($) $ / shares in Units, $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Numerator:
Net income (loss) attributable to Ceridian $ 62.7 $ 4.2 $ 80.2 $ (58.5)
Less: Loss from discontinued operations(3)(14.8)
Net income (loss) from continuing operations attributable to Ceridian62.7 7.2 80.2 (43.7)
Less: Senior Preferred Stock dividends declared7.7
Net income (loss) from continuing operations attributable to Ceridian available to common stockholders $ 62.7 $ 7.2 $ 80.2 $ (51.4)
Denominator:
Weighted-average shares outstanding - basic142,780,819 137,768,764 141,369,339 105,730,178
Effect of dilutive equity instruments6,372,408 7,295,934 6,910,604
Weighted-average shares outstanding - diluted149,153,227 145,064,698 148,279,943 105,730,178
Net income (loss) per share from continuing operations attributable to Ceridian - basic $ 0.44 $ 0.05 $ 0.57 $ (0.49)
Net loss per share from discontinued operations - basic(0.02)(0.14)
Net income (loss) per share attributable to Ceridian - basic0.440.030.57(0.63)
Net income (loss) per share from continuing operations attributable to Ceridian - diluted0.420.050.54(0.49)
Net loss per share from discontinued operations - diluted(0.02)(0.14)
Net income (loss) per share attributable to Ceridian - diluted $ 0.42 $ 0.03 $ 0.54 $ (0.63)

Net Income (Loss) per Share -_2

Net Income (Loss) per Share - Schedule of Potentially Dilutive Weighted Average Shares Excluded from Calculation of Diluted Net Income (Loss) per Share (Detail) - shares3 Months Ended9 Months Ended
Sep. 30, 2019Sep. 30, 2018Sep. 30, 2019Sep. 30, 2018
Senior Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount7,358,603
Junior Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount25,508,456
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount4,185,519 148,370 3,099,587 14,127,557
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount11,957 12,821 561,836