Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jun. 30, 2018 | Aug. 06, 2018 | |
Document and Entity Information | ||
Entity Registrant Name | ACXIOM CORP | |
Entity Central Index Key | 733,269 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 77,354,458 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q1 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 95,099 | $ 142,279 |
Trade accounts receivable, net | 163,767 | 167,188 |
Refundable income taxes | 11,761 | 9,733 |
Other current assets | 40,167 | 41,145 |
Total current assets | 310,794 | 360,345 |
Property and equipment, net of accumulated depreciation and amortization | 151,407 | 156,533 |
Software, net of accumulated amortization | 31,719 | 34,984 |
Goodwill | 595,795 | 595,995 |
Purchased software licenses, net of accumulated amortization | 6,670 | 7,703 |
Deferred income taxes | 11,488 | 12,225 |
Deferred commissions, net | 18,137 | 0 |
Other assets, net | 40,958 | 41,468 |
TOTAL ASSETS | 1,166,968 | 1,209,253 |
Current liabilities: | ||
Current installments of long-term debt | 1,327 | 1,583 |
Trade accounts payable | 47,668 | 46,688 |
Accrued payroll and related expenses | 21,939 | 42,499 |
Other accrued expenses | 58,938 | 55,865 |
Deferred revenue | 31,621 | 31,720 |
Total current liabilities | 161,493 | 178,355 |
Long-term debt | 227,435 | 227,837 |
Deferred income taxes | 42,258 | 40,243 |
Other liabilities | 13,726 | 13,723 |
Commitments and contingencies | ||
Equity: | ||
Common stock | 13,773 | 13,609 |
Additional paid-in capital | 1,256,442 | 1,235,679 |
Retained earnings | 638,043 | 628,331 |
Accumulated other comprehensive income | 8,899 | 10,767 |
Treasury stock, at cost | (1,195,101) | (1,139,291) |
Total equity | 722,056 | 749,095 |
TOTAL LIABILITIES AND EQUITY | $ 1,166,968 | $ 1,209,253 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||
Revenues | $ 226,960 | $ 212,514 |
Cost of revenue | 117,271 | 113,960 |
Gross profit | 109,689 | 98,554 |
Operating expenses: | ||
Research and development | 24,536 | 23,563 |
Sales and marketing | 54,850 | 48,440 |
General and administrative | 34,718 | 32,356 |
Gains, losses and other items, net | 1,286 | |
Gains, losses and other items, net | (98) | |
Total operating expenses | 115,390 | 104,261 |
Loss from operations | (5,701) | (5,707) |
Other income (expense): | ||
Interest expense | (2,838) | (2,342) |
Other, net | 524 | (672) |
Total other expense | (2,314) | (3,014) |
Loss before income taxes | (8,015) | (8,721) |
Income taxes (benefit) | (5,000) | (7,421) |
Net loss | $ (3,015) | $ (1,300) |
Basic loss per share: | ||
Basic earnings (loss) per share (in USD per share) | $ (0.04) | $ (0.02) |
Diluted loss per share: | ||
Diluted earnings (loss) per share (in USD per share) | $ (0.04) | $ (0.02) |
CONDENSED CONSOLIDATED STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (3,015) | $ (1,300) |
Other comprehensive income (loss): | ||
Change in foreign currency translation adjustment | (1,868) | 652 |
Comprehensive loss | $ (4,883) | $ (648) |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENT OF EQUITY - 3 months ended Jun. 30, 2018 - USD ($) $ in Thousands | Total | Common Stock | Additional paid-in Capital | Retained earnings | Accumulated other comprehensive income (loss) | Treasury Stock |
Balance, beginning of the period (in shares) at Mar. 31, 2018 | 136,079,676 | (58,304,917) | ||||
Balance, beginning of the period at Mar. 31, 2018 | $ 749,095 | $ 13,609 | $ 1,235,679 | $ 628,331 | $ 10,767 | $ (1,139,291) |
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 233,784 | (391,898) | ||||
Employee stock awards, benefit plans and other issuances | (5,928) | $ 23 | 4,093 | 0 | $ (10,044) | |
Non-cash stock-based compensation (in shares) | 149,416 | |||||
Non-cash stock-based compensation | 16,811 | $ 15 | 16,796 | |||
Restricted stock units vested (in shares) | 1,259,681 | |||||
Restricted stock units vested | 0 | $ 126 | (126) | |||
Acquisition of treasury stock (in shares) | (1,853,071) | |||||
Acquisition of treasury stock | (45,766) | $ (45,766) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (1,868) | (1,868) | ||||
Net loss | (3,015) | (3,015) | ||||
Balance, end of the period (in shares) at Jun. 30, 2018 | 137,722,557 | (60,549,886) | ||||
Balance, end of the period at Jun. 30, 2018 | $ 722,056 | $ 13,773 | $ 1,256,442 | $ 638,043 | $ 8,899 | $ (1,195,101) |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (3,015) | $ (1,300) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 21,529 | 21,110 |
Loss on disposal or impairment of assets | 48 | 163 |
Accelerated deferred debt costs | 0 | 720 |
Deferred income taxes | (1,335) | 2,497 |
Non-cash stock compensation expense | 20,360 | 15,038 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 4,329 | 11,960 |
Deferred costs and other assets, net | (2,995) | (3,377) |
Accounts payable and other liabilities | (21,704) | (37,073) |
Deferred revenue | (33) | (4,787) |
Net cash provided by operating activities | 17,184 | 4,951 |
Cash flows from investing activities: | ||
Capitalized software development costs | (3,606) | (3,388) |
Capital expenditures | (4,399) | (6,888) |
Data acquisition costs | (179) | (190) |
Equity investments | (2,500) | 0 |
Net cash used in investing activities | (10,684) | (10,466) |
Cash flows from financing activities: | ||
Proceeds from debt | 0 | 230,000 |
Payments of debt | (592) | (225,572) |
Fees for debt refinancing | (300) | (4,001) |
Sale of common stock, net of stock acquired for withholding taxes | (5,928) | (2,539) |
Acquisition of treasury stock | (45,766) | 0 |
Net cash used in financing activities | (52,586) | (2,112) |
Effect of exchange rate changes on cash | (1,094) | 430 |
Net change in cash and cash equivalents | (47,180) | (7,197) |
Cash and cash equivalents at beginning of period | 142,279 | 170,343 |
Cash and cash equivalents at end of period | 95,099 | 163,146 |
Cash paid during the period for: | ||
Interest | 2,607 | 2,375 |
Income taxes, net of refunds | $ 1,100 | $ 354 |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | 3 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: These condensed consolidated financial statements have been prepared by Acxiom Corporation (“Registrant,” “Acxiom,” we, us or the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Registrant’s management, all adjustments necessary for a fair presentation of the results for the periods included have been made, and the disclosures are adequate to make the information presented not misleading. All such adjustments are of a normal recurring nature. Certain note information has been omitted because it has not changed significantly from that reflected in Notes 1 through 18 of the Notes to Consolidated Financial Statements filed as part of Item 8 of the Registrant’s annual report on Form 10-K for the fiscal year ended March 31, 2018 (“2018 Annual Report”), as filed with the SEC on May 25, 2018. This quarterly report and the accompanying condensed consolidated financial statements should be read in connection with the 2018 Annual Report. The financial information contained in this quarterly report is not necessarily indicative of the results to be expected for any other period or for the full fiscal year ending March 31, 2019. Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). Actual results could differ from those estimates. Certain of the accounting policies used in the preparation of these condensed consolidated financial statements are complex and require management to make judgments and/or significant estimates regarding amounts reported or disclosed in these financial statements. Additionally, the application of certain of these accounting policies is governed by complex accounting principles and their interpretation. A discussion of the Company’s significant accounting principles and their application is included in Note 1 of the Notes to Consolidated Financial Statements and in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, of the Company’s 2018 Annual Report. Accounting Pronouncements Adopted During the Current Year In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. Topic 606 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of the new guidance is to recognize revenues when promised goods or services are transferred 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 adopted Topic 606 as of April 1, 2018 using the modified retrospective method. See Note 2 for further details. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 719): Scope of Modification Accounting" ("ASU 2017-09"). ASU 2017-09 clarifies when changes to the terms or conditions of a stock-based payment award must be accounted for as modifications. ASU 2017-09 will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. Under ASU 2017-09, an entity will not apply modification accounting to a stock-based payment award if the award's fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. ASU 2017-09 will be applied prospectively to awards modified on or after the adoption date. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. ASU 2017-09 is effective for the Company beginning in fiscal 2019. We adopted the standard in the current fiscal quarter, and adoption of this guidance did not have a material impact on our condensed financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"), which eliminates step two from the goodwill impairment test. Under ASU 2017-04, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years; earlier adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the adoption of this guidance to have a material impact on its condensed financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), as a comprehensive new standard that amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. The new standard will require lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases except short-term leases. For lessees, leases will continue to be classified as either operating or financing in the income statement. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. Lessors will continue to classify leases as operating, direct financing or sales-type leases. Subsequently, the FASB has issued various ASU's to provide further clarification around aspects of Topic 842. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years, with early adoption permitted. We will adopt the new standard on April 1, 2019 using the modified retrospective approach. The Company is continuing to evaluate the impact of the adoption of this guidance on its condensed consolidated financial statements and related disclosures. The Company does not anticipate that the adoption of any other recent accounting pronouncements will have a material impact on the Company's consolidated financial position, results of operations or cash flows. |
TOPIC 606 ADOPTION IMPACT AND R
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: (Notes) | 3 Months Ended |
Jun. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Topic 606 Adoption Impact and Revenue from Contracts with Customers | TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: On April 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of April 1, 2018. Results for reporting periods beginning after April 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic reporting under Topic 605. Under Topic 606, revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation We recorded a net increase to our opening retained earnings of $12.7 million , net of tax, due to the cumulative impact of adopting Topic 606, with the impact primarily related to the capitalization of costs of obtaining customer contracts. The details of the significant changes and quantitative impact of the changes are disclosed below. Costs of Obtaining Customer Contracts The Company previously recognized commission payments made for obtaining a contract as an operating expense when incurred. Under Topic 606, the Company capitalizes incremental costs to acquire contracts and amortizes them over the expected period of benefit, which we have determined as a range of two to five years . As of June 30, 2018 , the remaining unamortized contract costs were $18.1 million and are included in deferred commissions, net, in the condensed consolidated balance sheet. Net capitalized costs of $2.9 million were recorded as a reduction to operating expense for the three months ended June 30, 2018 . No impairment was recognized for the three months ended June 30, 2018 . Contingent Revenue The Company previously limited revenue recognition to the amount that was not contingent on the provision of future services. This was typically from fees paid over the contract term for services delivered at the beginning of the contract term. Impacts on Financial Statements Condensed Consolidated Balance Sheet Impact of changes in accounting policies As reported June 30, 2018 Adjustments Balances without adoption of Topic 606 Trade accounts receivable, net $ 163,767 $ (1,943 ) $ 161,824 Refundable income taxes 11,761 540 12,301 Deferred income taxes 11,488 (64 ) 11,424 Deferred commissions, net 18,137 (18,137 ) — Others 961,815 — 961,815 Total assets $ 1,166,968 $ (19,604 ) $ 1,147,364 Deferred revenue $ 31,621 $ (232 ) $ 31,389 Deferred income taxes 42,258 (4,761 ) 37,497 Others 371,033 — 371,033 Total liabilities 444,912 (4,993 ) 439,919 Retained earnings 638,043 (14,611 ) 623,432 Other equity 84,013 — 84,013 Total equity 722,056 (14,611 ) 707,445 Total liabilities and equity $ 1,166,968 $ (19,604 ) $ 1,147,364 Condensed Consolidated Statement of Operations Impact of changes in accounting policies As reported for the three months ended June 30, 2018 Adjustments Balances without adoption of Topic 606 Revenues $ 226,960 $ 296 $ 227,256 Cost of revenue 117,271 — 117,271 Gross profit $ 109,689 $ 296 $ 109,985 Operating expenses: Sales and marketing $ 54,850 $ 2,939 $ 57,789 Other operating expenses 60,540 — 60,540 Total operating expenses 115,390 2,939 118,329 Loss from operations (5,701 ) (2,643 ) (8,344 ) Total other expense (2,314 ) — (2,314 ) Loss before income taxes (8,015 ) (2,643 ) (10,658 ) Income taxes (5,000 ) (695 ) (5,695 ) Net loss $ (3,015 ) $ (1,948 ) $ (4,963 ) Condensed Consolidated Statement of Comprehensive Loss Impact of changes in accounting policies As reported for the three months ended June 30, 2018 Adjustments Balances without adoption of Topic 606 Net loss $ (3,015 ) $ (1,948 ) $ (4,963 ) Other comprehensive loss: Change in foreign currency translation adjustment (1,868 ) — (1,868 ) Comprehensive loss $ (4,883 ) $ (1,948 ) $ (6,831 ) Condensed Consolidated Statement of Cash Flows Impact of changes in accounting policies As reported for the three months ended June 30, 2018 Adjustments Balances without adoption of Topic 606 Net loss $ (3,015 ) $ (1,948 ) $ (4,963 ) Adjustments for: Deferred income taxes (1,335 ) (695 ) (2,030 ) Others 41,937 — 41,937 Changes in: Accounts receivable, net 4,329 (256 ) 4,073 Deferred costs and other assets (2,995 ) 2,939 (56 ) Accounts payable and other liabilities (21,704 ) — (21,704 ) Deferred revenue (33 ) (40 ) (73 ) Net cash from operating activities 17,184 — 17,184 Net cash from investing activities (10,684 ) — (10,684 ) Net cash from financing activities (52,586 ) — (52,586 ) Effect of exchange rate changes on cash (1,094 ) — (1,094 ) Net change in cash and cash equivalents (47,180 ) — (47,180 ) Cash and cash equivalents at beginning of period 142,279 — 142,279 Cash and cash equivalents at end of period $ 95,099 $ — $ 95,099 Disaggregation of Revenue In the following table, revenue is disaggregated by primary geographical market and major service offerings. The table also includes a reconciliation of the disaggregated revenue within the reportable segments. Reportable Segments June 30, 2018 (dollars in thousands) Primary Geographical Markets Acxiom Marketing Solutions LiveRamp Total United States $ 150,307 $ 56,222 $ 206,529 Europe 11,115 4,908 16,023 APAC 3,080 1,328 4,408 $ 164,502 $ 62,458 $ 226,960 Major Offerings/Services Audience Creation $ 45,452 $ — $ 45,452 Data Analytics 9,025 — 9,025 Data Management 110,025 — 110,025 Subscription — 51,329 51,329 Marketplace and Other — 11,129 11,129 $ 164,502 $ 62,458 $ 226,960 Reportable Segments June 30, 2017 (dollars in thousands) Primary Geographical Markets Acxiom Marketing Solutions LiveRamp Total United States $ 152,129 $ 42,118 $ 194,247 Europe 10,735 3,802 14,537 APAC 2,893 837 3,730 $ 165,757 $ 46,757 $ 212,514 Major Offerings/Services Audience Creation $ 51,303 $ — $ 51,303 Data Analytics 8,858 — 8,858 Data Management 105,596 — 105,596 Subscription — 37,052 37,052 Marketplace and Other — 9,705 9,705 $ 165,757 $ 46,757 $ 212,514 Transaction Price Allocated to the Remaining Performance Obligations We have performance obligations, primarily related to AMS offerings, associated with fixed commitments in customer contracts for future services that have not yet been recognized in our condensed consolidated financial statements. The amount of fixed revenue not yet recognized was $1.1 billion as of June 30, 2018 . The Company expects to recognize revenue on approximately 75% of these remaining performance obligations by March 31, 2021 with the balance recognized thereafter. |
EARNINGS (LOSS) PER SHARE AND S
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | 3 Months Ended |
Jun. 30, 2018 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | PER SHARE AND STOCKHOLDERS’ EQUITY: Loss Per Share A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): For the three months ended June 30, 2018 2017 Basic loss per share: Net loss $ (3,015 ) $ (1,300 ) Basic weighted-average shares outstanding 76,935 78,672 Basic loss per share $ (0.04 ) $ (0.02 ) Diluted loss per share: Basic weighted-average shares outstanding 76,935 78,672 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — — Diluted weighted-average shares outstanding 76,935 78,672 Diluted loss per share $ (0.04 ) $ (0.02 ) Due to the net loss incurred by the Company during the quarters ended June 30, 2018 and 2017, the dilutive effect of options, warrants and restricted stock units covering 2.4 million and 2.8 million shares of common stock, respectively, was excluded from the diluted loss per share calculation since the impact on the calculation was anti-dilutive. Additional options and warrants to purchase shares of common stock and restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because the effect was anti-dilutive are shown below (shares in thousands): For the three months ended June 30, 2018 2017 Number of shares outstanding under options, warrants and restricted stock units 119 20 Range of exercise prices for options $32.85 $32.85 Stockholders’ Equity On August 29, 2011, the board of directors adopted a common stock repurchase program. That program was subsequently modified and expanded, most recently on March 30, 2018. Under the modified common stock repurchase program, the Company may purchase up to $500.0 million of its common stock through the period ending December 31, 2019 . During the three months ended June 30, 2018 , the Company repurchased 1.9 million shares of its common stock for $45.8 million . Through June 30, 2018 , the Company had repurchased a total of 22.0 million shares of its stock for $420.4 million , leaving remaining capacity of $79.6 million under the stock repurchase program. Accumulated Other Comprehensive Income Accumulated other comprehensive income accumulated balances of $8.9 million and $10.8 million at June 30, 2018 and March 31, 2018 , respectively, reflect accumulated foreign currency translation adjustments. |
SHARE-BASED COMPENSATION_
SHARE-BASED COMPENSATION: | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
SHARE-BASED COMPENSATION: | SHARE-BASED COMPENSATION: Share-based Compensation Plans The Company has stock option and equity compensation plans for which a total of 34.5 million shares of the Company’s common stock have been reserved for issuance since the inception of the plans. At June 30, 2018 , there were a total of 5.1 million shares available for future grants under the plans. Stock Option Activity Stock option activity for the three months ended June 30, 2018 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2018 2,565,287 $ 13.61 Exercised (125,437 ) $ 8.80 $ 2,426 Forfeited or canceled (25,831 ) $ 14.25 Outstanding at June 30, 2018 2,414,019 $ 13.86 5.1 $ 38,910 Exercisable at June 30, 2018 2,169,170 $ 14.58 4.8 $ 33,397 The aggregate intrinsic value at period end represents the total pre-tax intrinsic value (the difference between Acxiom’s closing stock price on the last trading day of the period and the exercise price for each in-the-money option) that would have been received by the option holders had option holders exercised their options on June 30, 2018 . This amount changes based upon changes in the fair market value of Acxiom’s common stock. A summary of stock options outstanding and exercisable as of June 30, 2018 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ 0.61 — $ 9.99 545,583 5.2 years $ 1.62 390,000 $ 1.71 $ 10.00 — $ 19.99 1,176,361 4.4 years $ 14.95 1,092,595 $ 14.74 $ 20.00 — $ 24.99 672,523 6.2 years $ 21.30 667,023 $ 21.30 $ 25.00 — $ 32.85 19,552 5.4 years $ 32.85 19,552 $ 32.85 2,414,019 5.1 years $ 13.86 2,169,170 $ 14.58 Total expense related to stock options for the three months ended June 30, 2018 and 2017 was approximately $1.0 million and $1.4 million , respectively. Future expense for these options is expected to be approximately $6.3 million in total over the next three years . Performance Stock Option Unit Activity Performance stock option unit activity for the three months ended June 30, 2018 was: Weighted-average Weighted-average remaining Aggregate Number exercise price contractual term intrinsic value of shares per share (in years) (in thousands) Outstanding at March 31, 2018 329,404 $ 21.42 Forfeited or canceled (186,538 ) $ 21.41 Outstanding at June 30, 2018 142,866 $ 21.43 1.9 $ 1,217 Exercisable at June 30, 2018 — $ — — $ — Of the performance stock option units outstanding at March 31, 2018 , 164,702 reached maturity of the relevant performance period at March 31, 2018 . The units attained a 0% attainment level. As a result, they were cancelled in the current fiscal quarter. Total expense related to performance stock option units for the three months ended June 30, 2018 and 2017 was $0.3 million and $0.5 million , respectively. Future expense for these performance stock option units is expected to be approximately $1.1 million in total over the next three years . Restricted Stock Unit Activity During the three months ended June 30, 2018 , the Company granted time-vesting restricted stock units covering 1,703,482 shares of common stock with a fair value at the date of grant of $46.6 million . Of the restricted stock units granted in the current period, 98,156 vest in equal annual increments over four years , 1,586,724 vest 25% at the one-year anniversary and 75% in equal quarterly increments over the subsequent three years, and 18,602 vest in one year . Grant date fair value of these units is equal to the quoted market price for the shares on the date of grant. Time-vesting restricted stock unit activity for the three months ended June 30, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 3,449,001 $ 24.35 2.32 Granted 1,703,482 $ 27.34 Vested (692,206 ) $ 23.14 Forfeited or canceled (227,978 ) $ 24.98 Outstanding at June 30, 2018 4,232,299 $ 25.72 2.82 During the three months ended June 30, 2018 , the Company granted performance-based restricted stock units covering 216,727 shares of common stock having a fair value at the date of grant of $6.7 million , determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee of the board of directors (“compensation committee”) and continuous employment through the vesting date. The 216,727 units may vest in a number of shares from 25% to 200% of the award, based on the total shareholder return of Acxiom common stock compared to total shareholder return of a group of peer companies established by the compensation committee for the period from April 1, 2018 to March 31, 2021. Non-vested performance-based restricted stock unit activity for the three months ended June 30, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 682,763 $ 25.23 1.54 Granted 216,727 $ 31.07 Vested (20,965 ) $ 19.07 Forfeited or canceled (129,123 ) $ 24.13 Outstanding at June 30, 2018 749,402 $ 27.28 1.78 Total expense related to restricted stock for the three months ended June 30, 2018 and 2017 was approximately $10.9 million and $8.8 million , respectively. Future expense for restricted stock units is expected to be approximately $33.5 million for the nine months ending March 31, 2019, $35.9 million in fiscal 2020, $25.0 million in fiscal 2021, $13.6 million in fiscal 2022, and $1.4 million in fiscal 2023. Other Performance Unit Activity Other performance-based stock unit activity for the three months ended June 30, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 111,111 $ 5.33 - Vested (45,364 ) $ 5.33 Forfeited or canceled (65,747 ) $ 5.33 Outstanding at June 30, 2018 — $ — - The 111,111 performance-based units outstanding at March 31, 2018 reached maturity of the relevant performance period on March 31, 2018. The units achieved a 100% performance attainment level. However, application of the share price adjustment factor resulted in a 59% reduction in shares vested in the current fiscal quarter. During the quarter ended June 30, 2018, the Company withheld approximately $10.0 million related to employee tax withholding for stock-based compensation awards. Consideration Holdback As part of the Company’s acquisition of Arbor in fiscal 2017, $38.3 million of the acquisition consideration otherwise payable with respect to shares of restricted Arbor common stock held by certain key employees was subject to holdback by the Company pursuant to agreements with those employees (each, a “Holdback Agreement”). Total expense related to the Holdback Agreements for the three months ended June 30, 2018 and 2017 was $3.8 million in each period. Through June 30, 2018 , the Company had recognized a total of $24.3 million expense related to the Holdback Agreements. Future expense related to the Holdback Agreements is expected to be approximately $14.0 million over the next two fiscal years. Pacific Data Partners ("PDP") Assumed Performance Plan In connection with the fiscal 2018 acquisition of PDP, the Company assumed the outstanding performance compensation plan under the 2018 Equity Compensation Plan of Pacific Data Partners, LLC ("PDP PSU plan"). Total expense related to the PDP PSU plan for the three months ended June 30, 2018 was $3.9 million . Through June 30, 2018 , the Company had recognized a total of $5.9 million related to the PDP PSU plan. Future expense is expected to be approximately $11.9 million in fiscal 2019 , $15.7 million in fiscal 2020 , $15.8 million in fiscal 2021 , and $15.7 million in fiscal 2022 , based on expectations of full attainment. At March 31, 2018 , the recognized, but unpaid, portion balance related to the PDP PSU plan in other accrued expenses in the condensed consolidated balance sheet was $5.3 million . |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS: | 3 Months Ended |
Jun. 30, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
OTHER CURRENT AND NONCURRENT ASSETS: | OTHER CURRENT AND NONCURRENT ASSETS: Other current assets consist of the following (dollars in thousands): June 30, 2018 March 31, 2018 Prepaid expenses and other $ 25,823 $ 27,594 Assets of non-qualified retirement plan 14,344 13,551 Other current assets $ 40,167 $ 41,145 Other noncurrent assets consist of the following (dollars in thousands): June 30, 2018 March 31, 2018 Acquired intangible assets, net $ 31,453 $ 33,922 Deferred data acquisition costs 879 1,036 Other miscellaneous noncurrent assets 8,626 6,510 Noncurrent assets $ 40,958 $ 41,468 |
OTHER ACCRUED EXPENSES_
OTHER ACCRUED EXPENSES: | 3 Months Ended |
Jun. 30, 2018 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): June 30, 2018 March 31, 2018 Liabilities of non-qualified retirement plan 14,344 13,551 Other accrued expenses 44,594 42,314 Other accrued expenses $ 58,938 $ 55,865 |
GOODWILL AND INTANGIBLE ASSETS_
GOODWILL AND INTANGIBLE ASSETS: | 3 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND INTANGIBLE ASSETS: | GOODWILL AND INTANGIBLE ASSETS: Goodwill by operating segment for the three months ended June 30, 2018 (dollars in thousands) was as follows: LiveRamp Acxiom Marketing Solutions Total Balance at March 31, 2018 $ 203,639 $ 392,356 $ 595,995 Reallocation of segments 1,377 (1,377 ) — Change in foreign currency translation adjustment (62 ) (138 ) (200 ) Balance at June 30, 2018 $ 204,954 $ 390,841 $ 595,795 Goodwill by component included in each segment as of June 30, 2018 was: LiveRamp Acxiom Marketing Solutions Total U.S. $ 201,449 $ 382,981 $ 584,430 APAC 3,505 7,860 11,365 Balance at June 30, 2018 $ 204,954 $ 390,841 $ 595,795 The amounts allocated to intangible assets from acquisitions include developed technology, customer relationships, trade names, and publisher relationships. Amortization lives for those intangibles range from two years to ten years. The following table shows the amortization activity of intangible assets (dollars in thousands): June 30, 2018 March 31, 2018 Developed technology, gross (Software) $ 54,150 $ 54,150 Accumulated amortization (47,119 ) (43,533 ) Net developed technology $ 7,031 $ 10,617 Customer relationship/Trade name, gross (Other assets, net) $ 43,346 $ 43,364 Accumulated amortization (29,421 ) (27,953 ) Net customer/trade name $ 13,925 $ 15,411 Publisher relationship, gross (Other assets, net) $ 23,800 $ 23,800 Accumulated amortization (6,280 ) (5,289 ) Net publisher relationship $ 17,520 $ 18,511 Total intangible assets, gross $ 121,296 $ 121,314 Total accumulated amortization (82,820 ) (76,775 ) Total intangible assets, net $ 38,476 $ 44,539 Intangible assets by operating segment as of June 30, 2018 was (dollars in thousands): LiveRamp Acxiom Marketing Solutions Total Developed technology 7,031 — 7,031 Customer/Trade name 13,921 4 13,925 Publisher relationship 17,520 — 17,520 Balance at June 30, 2018 $ 38,472 $ 4 $ 38,476 Total amortization expense related to intangible assets for the three months ended June 30, 2018 and 2017 was $6.1 million and $6.0 million , respectively. The following table presents the estimated future amortization expenses related to purchased and other intangible assets. The amount for 2019 represents the remaining nine months ending March 31, 2019. All other periods represent fiscal years ending March 31 (dollars in thousands): Fiscal Year: 2019 $ 9,917 2020 11,950 2021 8,025 2022 5,150 2023 3,434 $ 38,476 |
LONG-TERM DEBT_
LONG-TERM DEBT: | 3 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT: | LONG-TERM DEBT: Long-term debt consists of the following (dollars in thousands): June 30, 2018 March 31, 2018 Revolving credit borrowings $ 230,000 $ 230,000 Other debt 2,701 3,293 Total long-term debt 232,701 233,293 Less current installments 1,327 1,583 Less deferred debt financing costs 3,939 3,873 Long-term debt, excluding current installments and deferred debt financing costs $ 227,435 $ 227,837 The revolving loan borrowings under the Company's Sixth Amended and Restated Credit Agreement (the "restated credit agreement") bear interest at LIBOR or at an alternative base rate plus a credit spread. At June 30, 2018 , the revolving loan borrowing bears interest at LIBOR plus a credit spread of 1.75% . The weighted-average interest rate on revolving credit borrowings at June 30, 2018 was 3.9% . There were no material outstanding letters of credit at June 30, 2018 or March 31, 2018. Under the terms of the restated credit agreement, the Company is required to maintain certain debt-to-cash flow and interest coverage ratios, among other restrictions. At June 30, 2018 , the Company was in compliance with these covenants and restrictions. |
ALLOWANCE FOR DOUBTFUL ACCOUNTS
ALLOWANCE FOR DOUBTFUL ACCOUNTS: | 3 Months Ended |
Jun. 30, 2018 | |
Valuation and Qualifying Accounts [Abstract] | |
ALLOWANCE FOR DOUBTFUL ACCOUNTS: | ALLOWANCE FOR DOUBTFUL ACCOUNTS: Trade accounts receivable are presented net of allowances for doubtful accounts, returns and credits of $5.2 million at June 30, 2018 and $6.8 million at March 31, 2018 . |
SEGMENT INFORMATION_
SEGMENT INFORMATION: | 3 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION: | SEGMENT INFORMATION: The Company reports segment information consistent with the way management internally disaggregates its operations to assess performance and to allocate resources. During the first quarter of fiscal 2019, the Company realigned its portfolio into two distinct business segments: LiveRamp, the identity infrastructure for powering exceptional customer experiences, and Acxiom Marketing Solutions, the leading provider of services for creating a unified approach to data-driven marketing. This realignment allows Acxiom to best meet client needs in a rapidly evolving marketplace, create a strong foundation for continued growth and enhance value for shareholders. This structure configured Acxiom’s three previous segments into two, aligning key Audience Solutions’ assets to each. All identity assets including IdentityLink, AbiliTec® intellectual property and Acxiom’s TV integrations were consolidated under LiveRamp. The remaining Audience Solutions’ lines of business for data and data services were combined with Marketing Services to create Acxiom Marketing Solutions. As a result of this organizational realignment, information that our chief operating decision maker regularly reviews for purposes of allocating resources and assessing performance changed. Revenues and cost of revenue are generally directly attributed to the segments. Certain revenue contracts are allocated among the segments based on the relative value of the underlying products and services. Cost of revenue, excluding non-cash stock compensation expense and purchased intangible asset amortization, is directly charged in most cases and allocated in certain cases based upon proportional usage. Operating expenses, excluding non-cash stock compensation expense and purchased intangible asset amortization, are attributed to the segment groups as follows: • Research and development expenses are primarily directly recorded to each segment group based on identified products supported. • Sales and marketing expenses are primarily directly recorded to each segment group based on products supported and sold. • General and administrative expenses are generally not allocated to the segments unless directly attributable. • Gains, losses and other items, net are not allocated to the segment groups. We do not track our assets by operating segments. Consequently, it is not practical to show assets by operating segment. The following table presents information by business segment (dollars in thousands): For the three months ended June 30, 2018 2017 Revenues: LiveRamp $ 62,458 $ 46,757 Acxiom Marketing Solutions 164,502 165,757 Total segment revenues $ 226,960 $ 212,514 Gross profit (1) : LiveRamp $ 44,200 $ 28,229 Acxiom Marketing Solutions 73,174 77,864 Total segment gross profit $ 117,374 $ 106,093 Income (loss) from operations (1) : LiveRamp $ 9,203 $ (97 ) Acxiom Marketing Solutions 47,458 48,374 Total segment income from operations $ 56,661 $ 48,277 (1) Gross profit and income from operations reflect only the direct and allocable controllable costs of each segment and do not include allocations of corporate expenses (primarily general and administrative expenses) and gains, losses, and other items, net. Additionally, segment gross profit and income from operations do not include non-cash stock compensation expense and purchased intangible asset amortization. The following table reconciles total segment gross profit to gross profit and total operating segment income from operations to income from operations (dollars in thousands): For the three months ended June 30, 2018 2017 Total segment gross profit $ 117,374 $ 106,093 Less: Purchased intangible asset amortization 6,054 5,966 Non-cash stock compensation 1,631 1,573 Gross profit $ 109,689 $ 98,554 Total segment income from operations $ 56,661 $ 48,277 Less: Corporate expenses (principally general and administrative) 27,840 25,966 Separation and transformation costs included in general and administrative 6,822 7,119 Gains, losses and other items, net 1,286 (98 ) Purchased intangible asset amortization 6,054 5,966 Non-cash stock compensation 20,360 15,031 Loss from operations $ (5,701 ) $ (5,707 ) |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | 3 Months Ended |
Jun. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: The following table summarizes the restructuring activity for the three months ended June 30, 2018 (dollars in thousands): Associate-related Lease Total March 31, 2018 $ 2,751 $ 5,292 $ 8,043 Restructuring charges and adjustments 1,286 — 1,286 Payments (2,923 ) (335 ) (3,258 ) June 30, 2018 $ 1,114 $ 4,957 $ 6,071 The above balances are included in other accrued expenses and other liabilities on the condensed consolidated balance sheets. Restructuring Plans In the three months ended June 30, 2018 , the Company recorded a total of $1.3 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense related to fiscal year 2018 restructuring plans primarily for associates in the United States required to render service until termination to receive the termination benefits. These costs are expected to be paid out in fiscal 2019. In fiscal 2018, the Company recorded a total of $6.4 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges of $3.8 million , and lease accruals and adjustments of $2.6 million . The associate-related accruals of $3.8 million related to the termination of associates in the United States and Europe. Of all amounts accrued for fiscal year 2018 associate-related plans, $0.7 million remained accrued as of June 30, 2018. These costs are expected to be paid out in fiscal 2019. The lease accruals and adjustments of $2.6 million result from the Company's exit from certain leased office facilities. In fiscal 2017, the Company recorded a total of $8.9 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges of $3.8 million , lease accruals and adjustments of $3.0 million , and leasehold improvement write-offs of $2.1 million . Of the associate-related accruals of $3.8 million , $0.2 million remained accrued as of June 30, 2018 . These costs are expected to be paid out in fiscal 2019. The lease accruals and adjustments of $3.0 million resulted from the Company's exit from certain leased office facilities ( $1.5 million ) and adjustments to estimates related to the fiscal 2015 lease accruals ( $1.5 million ). Of the amount accrued for fiscal 2017 lease accruals, $2.3 million remained accrued as of June 30, 2018 . In fiscal 2016, the Company recorded a total of $12.0 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges of $8.6 million , lease termination charges and accruals of $3.0 million , and leasehold improvement write-offs of $0.4 million . Of the associate-related accruals of $8.6 million , $0.1 million remained accrued as of June 30, 2018 . These amounts are expected to be paid out in fiscal 2019. In fiscal 2015, the Company recorded a total of $21.8 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges of $13.3 million , lease accruals of $6.5 million , and the write-off of leasehold improvements of $2.0 million . Of the associate-related accruals of $13.3 million , $0.3 million remained accrued as of June 30, 2018 . These amounts are expected to be paid out in fiscal 2019. Of the lease accruals of $6.5 million , $0.3 million remained accrued as of June 30, 2018 . With respect to the fiscal 2015, 2017, and 2018 lease accruals described above, the Company intends to sublease the facilities to the extent possible. The liabilities will be satisfied over the remainder of the leased properties' terms, which continue through November 2025. Actual sublease receipts may differ from the estimates originally made by the Company. Any future changes in the estimates or in the actual sublease income could require future adjustments to the liabilities, which would impact net earnings (loss) in the period the adjustment is recorded. Gains, Losses and Other Items Gains, losses and other items for each of the periods presented are as follows (dollars in thousands): For the three months ended June 30, 2018 2017 Restructuring plan charges and adjustments $ 1,286 $ (100 ) Other — 2 $ 1,286 $ (98 ) |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: | 3 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES: | COMMITMENTS AND CONTINGENCIES: Legal Matters The Company is involved in various claims and legal proceedings. Management routinely assesses the likelihood of adverse judgments or outcomes to these matters, as well as ranges of probable losses, to the extent losses are reasonably estimable. The Company records accruals for these matters to the extent that management concludes a loss is probable and the financial impact, should an adverse outcome occur, is reasonably estimable. These accruals are reflected in the Company’s condensed consolidated financial statements. In management’s opinion, the Company has made appropriate and adequate accruals for these matters, and management believes the probability of a material loss beyond the amounts accrued to be remote. However, the ultimate liability for these matters is uncertain, and if accruals are not adequate, an adverse outcome could have a material effect on the Company’s consolidated financial condition or results of operations. The Company maintains insurance coverage above certain limits. There are currently no matters pending against the Company or its subsidiaries for which the potential exposure is considered material to the Company’s condensed consolidated financial statements. Commitments The Company leases data processing equipment, office furniture and equipment, land and office space under noncancellable operating leases. The Company has a future commitment for lease payments over the next 22 years years of $76.5 million . In connection with the disposition of Acxiom Impact during fiscal 2017, the Company assigned a facility lease to the buyer of the business. The Company guaranteed the facility lease as required by the asset disposition agreement. Should the assignee default, the Company would be required to perform under the terms of the facility lease, which continues through September 2021. At June 30, 2018 , the Company’s maximum potential future rent payments under this guarantee totaled $2.0 million . |
INCOME TAXES_
INCOME TAXES: | 3 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES: | INCOME TAX: In determining the quarterly provision for income taxes, the Company makes its best estimate of the effective income tax rate expected to be applicable for the full fiscal year. The estimated effective income tax rate for the current fiscal year is impacted by the reduction in the U.S. federal corporate income tax rate (discussed below), non-deductible stock-based compensation, state income taxes, research tax credits, and losses in foreign jurisdictions. State income taxes are influenced by the geographic and legal entity mix of the Company's U.S. income as well as the diversity of rules among the states. The Company does not record a tax benefit for certain foreign losses due to uncertainty of future utilization. On December 22, 2017, the U.S. enacted significant tax law changes following the passage of H.R. 1, "An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 "the Tax Act") (previously known as "The Tax Cuts and Jobs Act"). The Tax Act reduced the U.S. federal corporate income tax rate from 35% to 21%, among other provisions. We believe we have properly estimated our federal and state income tax liabilities for the impacts of the Tax Act, including provisional amounts under SAB No. 118 related to the rate change, the impact of increased bonus depreciation, and the effects on executive compensation deductions. The Tax Act may be subject to technical amendments, as well as interpretations and implementing of regulations by the Department of Treasury and Internal Revenue Service, any of which could increase or decrease one or more impacts of the legislation. As such, we will continue to analyze the effects of the Tax Act and may record adjustments to provisional amounts during the measurement period ending no later than December 31, 2018. As of June 30, 2018, we have not changed the provisional estimates recognized in fiscal 2018. Any impacts to our income tax expense as a result of additional guidance will be recorded in the period in which the guidance is issued. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS: | 3 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS: | FAIR VALUE OF FINANCIAL INSTRUMENTS: The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. Cash and cash equivalents, trade receivables, unbilled and notes receivable, short-term borrowings and trade payables - The carrying amount approximates fair value because of the short maturity of these instruments. Long-term debt - The interest rate on the revolving credit agreement is adjusted for changes in market rates and therefore the carrying value approximates fair value. The estimated fair value of other long-term debt was determined based upon the present value of the expected cash flows considering expected maturities and using interest rates currently available to the Company for long-term borrowings with similar terms. At June 30, 2018 , the estimated fair value of long-term debt approximates its carrying value. Under applicable accounting standards financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company assigned assets and liabilities to the hierarchy in the accounting standards, which is Level 1 - quoted prices in active markets for identical assets or liabilities, Level 2 - significant other observable inputs and Level 3 - significant unobservable inputs. The following table presents the balances of assets measured at fair value as of June 30, 2018 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 14,344 $ — $ — $ 14,344 Total assets $ 14,344 $ — $ — $ 14,344 |
SUBSEQUENT EVENT (Notes)
SUBSEQUENT EVENT (Notes) | 3 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | On July 2, 2018, the Company entered into a definitive agreement to sell Acxiom Marketing Solutions ("AMS") to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash, subject to customary closing adjustments. The transaction is subject to standard regulatory review, Acxiom shareholder approval and other customary closing conditions. In addition: • As required regulatory approvals are being sought and received, Acxiom intends to solicit shareholder approval for the transaction; • Once shareholder approval has been received, which is expected in the second quarter of fiscal 2019, the Company expects to report the results of AMS as discontinued operations; • The transaction is expected to close in the third quarter of fiscal 2019; and • The Company expects to report a gain on the sale. The Company expects to realize approximately $1.7 billion in net cash proceeds, after taxes and fees. Following the closing, the Company intends to: • Retire its existing $230 million debt balance; • Initiate a $500 million cash tender offer for its common stock; • Increase its outstanding share repurchase authorization by up to an additional $500 million , and extend the duration of its program to December 31, 2020; • Use the remainder of the proceeds to fund its growth initiatives, strategic acquisition opportunities and meet its ongoing cash needs; • Transfer the Acxiom brand name and associated trademarks to IPG; and • Rename the Company LiveRamp Holdings, Inc. and, shortly thereafter, begin trading its common stock under the new ticker symbol “RAMP”. |
BASIS OF PRESENTATION AND SUM22
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies) | 3 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements Not Yet Adopted | Accounting Pronouncements Adopted During the Current Year In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. Topic 606 supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of the new guidance is to recognize revenues when promised goods or services are transferred 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 adopted Topic 606 as of April 1, 2018 using the modified retrospective method. See Note 2 for further details. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 719): Scope of Modification Accounting" ("ASU 2017-09"). ASU 2017-09 clarifies when changes to the terms or conditions of a stock-based payment award must be accounted for as modifications. ASU 2017-09 will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. Under ASU 2017-09, an entity will not apply modification accounting to a stock-based payment award if the award's fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. ASU 2017-09 will be applied prospectively to awards modified on or after the adoption date. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. ASU 2017-09 is effective for the Company beginning in fiscal 2019. We adopted the standard in the current fiscal quarter, and adoption of this guidance did not have a material impact on our condensed financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"), which eliminates step two from the goodwill impairment test. Under ASU 2017-04, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years; earlier adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect the adoption of this guidance to have a material impact on its condensed financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"), as a comprehensive new standard that amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. The new standard will require lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases except short-term leases. For lessees, leases will continue to be classified as either operating or financing in the income statement. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model. Lessors will continue to classify leases as operating, direct financing or sales-type leases. Subsequently, the FASB has issued various ASU's to provide further clarification around aspects of Topic 842. ASU 2016-02 is effective for annual periods beginning after December 15, 2018 (fiscal 2020 for the Company), including interim periods within those fiscal years, with early adoption permitted. We will adopt the new standard on April 1, 2019 using the modified retrospective approach. The Company is continuing to evaluate the impact of the adoption of this guidance on its condensed consolidated financial statements and related disclosures. The Company does not anticipate that the adoption of any other recent accounting pronouncements will have a material impact on the Company's consolidated financial position, results of operations or cash flows. |
TOPIC 606 ADOPTION IMPACT AND23
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Impacts on Financial Statements Condensed Consolidated Balance Sheet Impact of changes in accounting policies As reported June 30, 2018 Adjustments Balances without adoption of Topic 606 Trade accounts receivable, net $ 163,767 $ (1,943 ) $ 161,824 Refundable income taxes 11,761 540 12,301 Deferred income taxes 11,488 (64 ) 11,424 Deferred commissions, net 18,137 (18,137 ) — Others 961,815 — 961,815 Total assets $ 1,166,968 $ (19,604 ) $ 1,147,364 Deferred revenue $ 31,621 $ (232 ) $ 31,389 Deferred income taxes 42,258 (4,761 ) 37,497 Others 371,033 — 371,033 Total liabilities 444,912 (4,993 ) 439,919 Retained earnings 638,043 (14,611 ) 623,432 Other equity 84,013 — 84,013 Total equity 722,056 (14,611 ) 707,445 Total liabilities and equity $ 1,166,968 $ (19,604 ) $ 1,147,364 Condensed Consolidated Statement of Operations Impact of changes in accounting policies As reported for the three months ended June 30, 2018 Adjustments Balances without adoption of Topic 606 Revenues $ 226,960 $ 296 $ 227,256 Cost of revenue 117,271 — 117,271 Gross profit $ 109,689 $ 296 $ 109,985 Operating expenses: Sales and marketing $ 54,850 $ 2,939 $ 57,789 Other operating expenses 60,540 — 60,540 Total operating expenses 115,390 2,939 118,329 Loss from operations (5,701 ) (2,643 ) (8,344 ) Total other expense (2,314 ) — (2,314 ) Loss before income taxes (8,015 ) (2,643 ) (10,658 ) Income taxes (5,000 ) (695 ) (5,695 ) Net loss $ (3,015 ) $ (1,948 ) $ (4,963 ) Condensed Consolidated Statement of Comprehensive Loss Impact of changes in accounting policies As reported for the three months ended June 30, 2018 Adjustments Balances without adoption of Topic 606 Net loss $ (3,015 ) $ (1,948 ) $ (4,963 ) Other comprehensive loss: Change in foreign currency translation adjustment (1,868 ) — (1,868 ) Comprehensive loss $ (4,883 ) $ (1,948 ) $ (6,831 ) Condensed Consolidated Statement of Cash Flows Impact of changes in accounting policies As reported for the three months ended June 30, 2018 Adjustments Balances without adoption of Topic 606 Net loss $ (3,015 ) $ (1,948 ) $ (4,963 ) Adjustments for: Deferred income taxes (1,335 ) (695 ) (2,030 ) Others 41,937 — 41,937 Changes in: Accounts receivable, net 4,329 (256 ) 4,073 Deferred costs and other assets (2,995 ) 2,939 (56 ) Accounts payable and other liabilities (21,704 ) — (21,704 ) Deferred revenue (33 ) (40 ) (73 ) Net cash from operating activities 17,184 — 17,184 Net cash from investing activities (10,684 ) — (10,684 ) Net cash from financing activities (52,586 ) — (52,586 ) Effect of exchange rate changes on cash (1,094 ) — (1,094 ) Net change in cash and cash equivalents (47,180 ) — (47,180 ) Cash and cash equivalents at beginning of period 142,279 — 142,279 Cash and cash equivalents at end of period $ 95,099 $ — $ 95,099 |
Schedule of Disaggregation of Revenue | In the following table, revenue is disaggregated by primary geographical market and major service offerings. The table also includes a reconciliation of the disaggregated revenue within the reportable segments. Reportable Segments June 30, 2018 (dollars in thousands) Primary Geographical Markets Acxiom Marketing Solutions LiveRamp Total United States $ 150,307 $ 56,222 $ 206,529 Europe 11,115 4,908 16,023 APAC 3,080 1,328 4,408 $ 164,502 $ 62,458 $ 226,960 Major Offerings/Services Audience Creation $ 45,452 $ — $ 45,452 Data Analytics 9,025 — 9,025 Data Management 110,025 — 110,025 Subscription — 51,329 51,329 Marketplace and Other — 11,129 11,129 $ 164,502 $ 62,458 $ 226,960 Reportable Segments June 30, 2017 (dollars in thousands) Primary Geographical Markets Acxiom Marketing Solutions LiveRamp Total United States $ 152,129 $ 42,118 $ 194,247 Europe 10,735 3,802 14,537 APAC 2,893 837 3,730 $ 165,757 $ 46,757 $ 212,514 Major Offerings/Services Audience Creation $ 51,303 $ — $ 51,303 Data Analytics 8,858 — 8,858 Data Management 105,596 — 105,596 Subscription — 37,052 37,052 Marketplace and Other — 9,705 9,705 $ 165,757 $ 46,757 $ 212,514 |
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction |
EARNINGS (LOSS) PER SHARE AND24
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
Reconciliation of numerator and denominator of basic and diluted earnings (loss) per share | A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): |
Schedule of anti-dilutive options, warrants and restricted stock units excluded from computation of earnings (loss) per share | ptions and warrants to purchase shares of common stock and restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because the effect was anti-dilutive are shown below (shares in thousands): For the three months ended June 30, 2018 2017 Number of shares outstanding under options, warrants and restricted stock units 119 20 Range of exercise prices for options $32.85 $32.85 |
SHARE-BASED COMPENSATION_ (Tabl
SHARE-BASED COMPENSATION: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of option activity | Stock option activity for the three months ended June 30, 2018 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2018 2,565,287 $ 13.61 Exercised (125,437 ) $ 8.80 $ 2,426 Forfeited or canceled (25,831 ) $ 14.25 Outstanding at June 30, 2018 2,414,019 $ 13.86 5.1 $ 38,910 Exercisable at June 30, 2018 2,169,170 $ 14.58 4.8 $ 33,397 |
Summary of stock options outstanding and exercisable | A summary of stock options outstanding and exercisable as of June 30, 2018 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ 0.61 — $ 9.99 545,583 5.2 years $ 1.62 390,000 $ 1.71 $ 10.00 — $ 19.99 1,176,361 4.4 years $ 14.95 1,092,595 $ 14.74 $ 20.00 — $ 24.99 672,523 6.2 years $ 21.30 667,023 $ 21.30 $ 25.00 — $ 32.85 19,552 5.4 years $ 32.85 19,552 $ 32.85 2,414,019 5.1 years $ 13.86 2,169,170 $ 14.58 |
Schedule of performance stock option unit activity | Performance stock option unit activity for the three months ended June 30, 2018 was: Weighted-average Weighted-average remaining Aggregate Number exercise price contractual term intrinsic value of shares per share (in years) (in thousands) Outstanding at March 31, 2018 329,404 $ 21.42 Forfeited or canceled (186,538 ) $ 21.41 Outstanding at June 30, 2018 142,866 $ 21.43 1.9 $ 1,217 Exercisable at June 30, 2018 — $ — — $ — |
Schedule of non-vested time-vesting restricted stock unit activity | me-vesting restricted stock unit activity for the three months ended June 30, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 3,449,001 $ 24.35 2.32 Granted 1,703,482 $ 27.34 Vested (692,206 ) $ 23.14 Forfeited or canceled (227,978 ) $ 24.98 Outstanding at June 30, 2018 4,232,299 $ 25.72 2.82 |
Schedule of non-vested performance-based restricted stock units activity | Non-vested performance-based restricted stock unit activity for the three months ended June 30, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 682,763 $ 25.23 1.54 Granted 216,727 $ 31.07 Vested (20,965 ) $ 19.07 Forfeited or canceled (129,123 ) $ 24.13 Outstanding at June 30, 2018 749,402 $ 27.28 1.78 |
Schedule of other performance unit activity | Other performance-based stock unit activity for the three months ended June 30, 2018 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2018 111,111 $ 5.33 - Vested (45,364 ) $ 5.33 Forfeited or canceled (65,747 ) $ 5.33 Outstanding at June 30, 2018 — $ — - |
OTHER CURRENT AND NONCURRENT 26
OTHER CURRENT AND NONCURRENT ASSETS: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of components of other current assets | Other current assets consist of the following (dollars in thousands): June 30, 2018 March 31, 2018 Prepaid expenses and other $ 25,823 $ 27,594 Assets of non-qualified retirement plan 14,344 13,551 Other current assets $ 40,167 $ 41,145 |
Schedule of components of other noncurrent assets | Other noncurrent assets consist of the following (dollars in thousands): June 30, 2018 March 31, 2018 Acquired intangible assets, net $ 31,453 $ 33,922 Deferred data acquisition costs 879 1,036 Other miscellaneous noncurrent assets 8,626 6,510 Noncurrent assets $ 40,958 $ 41,468 |
OTHER ACCRUED EXPENSES_ (Tables
OTHER ACCRUED EXPENSES: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Other Accrued Expenses [Abstract]. | |
Schedule of other accrued expenses | Other accrued expenses consist of the following (dollars in thousands): June 30, 2018 March 31, 2018 Liabilities of non-qualified retirement plan 14,344 13,551 Other accrued expenses 44,594 42,314 Other accrued expenses $ 58,938 $ 55,865 |
GOODWILL AND INTANGIBLE ASSET28
GOODWILL AND INTANGIBLE ASSETS: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill by operating segment and activity and by component included in each segment | oodwill by operating segment for the three months ended June 30, 2018 (dollars in thousands) was as follows: LiveRamp Acxiom Marketing Solutions Total Balance at March 31, 2018 $ 203,639 $ 392,356 $ 595,995 Reallocation of segments 1,377 (1,377 ) — Change in foreign currency translation adjustment (62 ) (138 ) (200 ) Balance at June 30, 2018 $ 204,954 $ 390,841 $ 595,795 Goodwill by component included in each segment as of June 30, 2018 was: LiveRamp Acxiom Marketing Solutions Total U.S. $ 201,449 $ 382,981 $ 584,430 APAC 3,505 7,860 11,365 Balance at June 30, 2018 $ 204,954 $ 390,841 $ 595,795 |
LONG-TERM DEBT_ (Tables)
LONG-TERM DEBT: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of components of long-term debt | Long-term debt consists of the following (dollars in thousands): June 30, 2018 March 31, 2018 Revolving credit borrowings $ 230,000 $ 230,000 Other debt 2,701 3,293 Total long-term debt 232,701 233,293 Less current installments 1,327 1,583 Less deferred debt financing costs 3,939 3,873 Long-term debt, excluding current installments and deferred debt financing costs $ 227,435 $ 227,837 |
SEGMENT INFORMATION_ (Tables)
SEGMENT INFORMATION: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Schedule of information by business segment | The following table presents information by business segment (dollars in thousands): For the three months ended June 30, 2018 2017 Revenues: LiveRamp $ 62,458 $ 46,757 Acxiom Marketing Solutions 164,502 165,757 Total segment revenues $ 226,960 $ 212,514 Gross profit (1) : LiveRamp $ 44,200 $ 28,229 Acxiom Marketing Solutions 73,174 77,864 Total segment gross profit $ 117,374 $ 106,093 Income (loss) from operations (1) : LiveRamp $ 9,203 $ (97 ) Acxiom Marketing Solutions 47,458 48,374 Total segment income from operations $ 56,661 $ 48,277 (1) Gross profit and income from operations reflect only the direct and allocable controllable costs of each segment and do not include allocations of corporate expenses (primarily general and administrative expenses) and gains, losses, and other items, net. Additionally, segment gross profit and income from operations do not include non-cash stock compensation expense and purchased intangible asset amortization. |
Reconciliation of total operating segment gross profit to total gross profit and total operating segment income from operations to loss from operations | The following table reconciles total segment gross profit to gross profit and total operating segment income from operations to income from operations (dollars in thousands): For the three months ended June 30, 2018 2017 Total segment gross profit $ 117,374 $ 106,093 Less: Purchased intangible asset amortization 6,054 5,966 Non-cash stock compensation 1,631 1,573 Gross profit $ 109,689 $ 98,554 Total segment income from operations $ 56,661 $ 48,277 Less: Corporate expenses (principally general and administrative) 27,840 25,966 Separation and transformation costs included in general and administrative 6,822 7,119 Gains, losses and other items, net 1,286 (98 ) Purchased intangible asset amortization 6,054 5,966 Non-cash stock compensation 20,360 15,031 Loss from operations $ (5,701 ) $ (5,707 ) |
RESTRUCTURING, IMPAIRMENT AND31
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
Summary of restructuring activity | The following table summarizes the restructuring activity for the three months ended June 30, 2018 (dollars in thousands): Associate-related Lease Total March 31, 2018 $ 2,751 $ 5,292 $ 8,043 Restructuring charges and adjustments 1,286 — 1,286 Payments (2,923 ) (335 ) (3,258 ) June 30, 2018 $ 1,114 $ 4,957 $ 6,071 |
Schedule of gains, losses and other items | Gains, losses and other items for each of the periods presented are as follows (dollars in thousands): For the three months ended June 30, 2018 2017 Restructuring plan charges and adjustments $ 1,286 $ (100 ) Other — 2 $ 1,286 $ (98 ) |
FAIR VALUE OF FINANCIAL INSTR32
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets and liabilities measured at fair value | The following table presents the balances of assets measured at fair value as of June 30, 2018 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 14,344 $ — $ — $ 14,344 Total assets $ 14,344 $ — $ — $ 14,344 |
TOPIC 606 ADOPTION IMPACT AND33
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Narrative (Details) - USD ($) | 3 Months Ended | ||
Jun. 30, 2018 | Apr. 01, 2018 | Mar. 31, 2018 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Retained earnings | $ 638,043,000 | $ 628,331,000 | |
Capitalized contract cost, unamortized | 18,100,000 | ||
Capitalized contract cost, net | 2,900,000 | ||
Contract with customer, asset, credit loss expense | 0 | ||
ASC 606 Adjustments | Accounting Standards Update 2014-09 | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Retained earnings | $ (14,611,000) | $ 12,700,000 | |
Minimum | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Capitalized contract cost amortization period | 2 years | ||
Maximum | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Capitalized contract cost amortization period | 5 years |
TOPIC 606 ADOPTION IMPACT AND34
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Impact of changes in accounting policies (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Apr. 01, 2018 | Mar. 31, 2018 | |
ASSETS | ||||
Trade accounts receivable, net | $ 163,767 | $ 167,188 | ||
Refundable income taxes | 11,761 | 9,733 | ||
Deferred income taxes | 11,488 | 12,225 | ||
Deferred commissions, net | 18,137 | 0 | ||
Others | 961,815 | |||
TOTAL ASSETS | 1,166,968 | 1,209,253 | ||
Liabilities | ||||
Deferred revenue | 31,621 | 31,720 | ||
Deferred income taxes | 42,258 | 40,243 | ||
Other liabilities | 371,033 | |||
Total liabilities | 444,912 | |||
Equity | ||||
Retained earnings | 638,043 | 628,331 | ||
Other equity | 84,013 | |||
Total equity | 722,056 | 749,095 | ||
TOTAL LIABILITIES AND EQUITY | 1,166,968 | $ 1,209,253 | ||
Income Statement [Abstract] | ||||
Revenues | 226,960 | $ 212,514 | ||
Cost of revenue | 117,271 | 113,960 | ||
Gross profit | 109,689 | 98,554 | ||
Operating expenses: | ||||
Sales and marketing | 54,850 | 48,440 | ||
Other operating expenses | 60,540 | |||
Total operating expenses | 115,390 | 104,261 | ||
Loss from operations | (5,701) | (5,707) | ||
Total other expense | (2,314) | (3,014) | ||
Loss before income taxes | (8,015) | (8,721) | ||
Income taxes (benefit) | (5,000) | (7,421) | ||
Net loss | (3,015) | (1,300) | ||
Statement of Comprehensive Income [Abstract] | ||||
Net loss | (3,015) | (1,300) | ||
Other comprehensive income (loss): | ||||
Change in foreign currency translation adjustment | (1,868) | 652 | ||
Comprehensive loss | (4,883) | (648) | ||
Cash flows from operating activities: | ||||
Net loss | (3,015) | (1,300) | ||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Deferred income taxes | (1,335) | 2,497 | ||
Others | 41,937 | |||
Changes in operating assets and liabilities: | ||||
Accounts receivable, net | 4,329 | 11,960 | ||
Deferred costs and other assets, net | (2,995) | |||
Accounts payable and other liabilities | (21,704) | (37,073) | ||
Deferred revenue | (33) | (4,787) | ||
Net cash provided by operating activities | 17,184 | 4,951 | ||
Net cash from investing activities | (10,684) | (10,466) | ||
Net cash from financing activities | (52,586) | (2,112) | ||
Effect of exchange rate changes on cash | (1,094) | 430 | ||
Net change in cash and cash equivalents | (47,180) | (7,197) | ||
Cash and cash equivalents at beginning of period | 142,279 | 170,343 | ||
Cash and cash equivalents at end of period | 95,099 | $ 163,146 | ||
ASC 606 Adjustments | Accounting Standards Update 2014-09 | ||||
ASSETS | ||||
Trade accounts receivable, net | (1,943) | |||
Refundable income taxes | 540 | |||
Deferred income taxes | (64) | |||
Deferred commissions, net | (18,137) | |||
Others | 0 | |||
TOTAL ASSETS | (19,604) | |||
Liabilities | ||||
Deferred revenue | (232) | |||
Deferred income taxes | (4,761) | |||
Other liabilities | 0 | |||
Total liabilities | (4,993) | |||
Equity | ||||
Retained earnings | (14,611) | $ 12,700 | ||
Other equity | 0 | |||
Total equity | (14,611) | |||
TOTAL LIABILITIES AND EQUITY | (19,604) | |||
Income Statement [Abstract] | ||||
Revenues | 296 | |||
Cost of revenue | 0 | |||
Gross profit | 296 | |||
Operating expenses: | ||||
Sales and marketing | 2,939 | |||
Other operating expenses | 0 | |||
Total operating expenses | 2,939 | |||
Loss from operations | (2,643) | |||
Total other expense | 0 | |||
Loss before income taxes | (2,643) | |||
Income taxes (benefit) | (695) | |||
Net loss | (1,948) | |||
Statement of Comprehensive Income [Abstract] | ||||
Net loss | (1,948) | |||
Other comprehensive income (loss): | ||||
Change in foreign currency translation adjustment | 0 | |||
Comprehensive loss | (1,948) | |||
Cash flows from operating activities: | ||||
Net loss | (1,948) | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Deferred income taxes | (695) | |||
Others | 0 | |||
Changes in operating assets and liabilities: | ||||
Accounts receivable, net | (256) | |||
Deferred costs and other assets, net | 2,939 | |||
Accounts payable and other liabilities | 0 | |||
Deferred revenue | (40) | |||
Net cash provided by operating activities | 0 | |||
Net cash from investing activities | 0 | |||
Net cash from financing activities | 0 | |||
Effect of exchange rate changes on cash | 0 | |||
Net change in cash and cash equivalents | 0 | |||
Cash and cash equivalents at beginning of period | 0 | |||
Cash and cash equivalents at end of period | 0 | |||
Before ASC topic 606 | ||||
ASSETS | ||||
Trade accounts receivable, net | 161,824 | |||
Refundable income taxes | 12,301 | |||
Deferred income taxes | 11,424 | |||
Deferred commissions, net | 0 | |||
Others | 961,815 | |||
TOTAL ASSETS | 1,147,364 | |||
Liabilities | ||||
Deferred revenue | 31,389 | |||
Deferred income taxes | 37,497 | |||
Other liabilities | 371,033 | |||
Total liabilities | 439,919 | |||
Equity | ||||
Retained earnings | 623,432 | |||
Other equity | 84,013 | |||
Total equity | 707,445 | |||
TOTAL LIABILITIES AND EQUITY | 1,147,364 | |||
Income Statement [Abstract] | ||||
Revenues | 227,256 | |||
Cost of revenue | 117,271 | |||
Gross profit | 109,985 | |||
Operating expenses: | ||||
Sales and marketing | 57,789 | |||
Other operating expenses | 60,540 | |||
Total operating expenses | 118,329 | |||
Loss from operations | (8,344) | |||
Total other expense | (2,314) | |||
Loss before income taxes | (10,658) | |||
Income taxes (benefit) | (5,695) | |||
Net loss | (4,963) | |||
Statement of Comprehensive Income [Abstract] | ||||
Net loss | (4,963) | |||
Other comprehensive income (loss): | ||||
Change in foreign currency translation adjustment | (1,868) | |||
Comprehensive loss | (6,831) | |||
Cash flows from operating activities: | ||||
Net loss | (4,963) | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
Deferred income taxes | (2,030) | |||
Others | 41,937 | |||
Changes in operating assets and liabilities: | ||||
Accounts receivable, net | 4,073 | |||
Deferred costs and other assets, net | (56) | |||
Accounts payable and other liabilities | (21,704) | |||
Deferred revenue | (73) | |||
Net cash provided by operating activities | 17,184 | |||
Net cash from investing activities | (10,684) | |||
Net cash from financing activities | (52,586) | |||
Effect of exchange rate changes on cash | (1,094) | |||
Net change in cash and cash equivalents | (47,180) | |||
Cash and cash equivalents at beginning of period | 142,279 | |||
Cash and cash equivalents at end of period | $ 95,099 |
TOPIC 606 ADOPTION IMPACT AND35
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 226,960 | $ 212,514 |
United States | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 206,529 | 194,247 |
Europe | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 16,023 | 14,537 |
APAC | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 4,408 | 3,730 |
Audience Creation | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 45,452 | 51,303 |
Data Analytics | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 9,025 | 8,858 |
Data Management | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 110,025 | 105,596 |
Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 51,329 | 37,052 |
Marketplace and Other | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 11,129 | 9,705 |
Acxiom Marketing Solutions | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 164,502 | 165,757 |
Acxiom Marketing Solutions | United States | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 150,307 | 152,129 |
Acxiom Marketing Solutions | Europe | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 11,115 | 10,735 |
Acxiom Marketing Solutions | APAC | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 3,080 | 2,893 |
Acxiom Marketing Solutions | Audience Creation | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 45,452 | 51,303 |
Acxiom Marketing Solutions | Data Analytics | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 9,025 | 8,858 |
Acxiom Marketing Solutions | Data Management | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 110,025 | 105,596 |
Acxiom Marketing Solutions | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 0 | 0 |
Acxiom Marketing Solutions | Marketplace and Other | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 0 | 0 |
LiveRamp | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 62,458 | 46,757 |
LiveRamp | United States | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 56,222 | 42,118 |
LiveRamp | Europe | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 4,908 | 3,802 |
LiveRamp | APAC | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 1,328 | 837 |
LiveRamp | Audience Creation | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 0 | 0 |
LiveRamp | Data Analytics | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 0 | 0 |
LiveRamp | Data Management | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 0 | 0 |
LiveRamp | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 51,329 | 37,052 |
LiveRamp | Marketplace and Other | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 11,129 | $ 9,705 |
TOPIC 606 ADOPTION IMPACT AND36
TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Billions | 3 Months Ended |
Jun. 30, 2018USD ($) | |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 1.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-01-07 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, percentage | 75.00% |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 2 years 8 months |
EARNINGS PER SHARE AND STOCKHOL
EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY: Reconciliation of basic and diluted earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Basic loss per share: | ||
Net loss | $ (3,015) | $ (1,300) |
Basic weighted-average shares outstanding (in shares) | 76,935 | 78,672 |
Basic earnings (loss) per share (in USD per share) | $ (0.04) | $ (0.02) |
Diluted loss per share: | ||
Basic weighted-average shares outstanding (in shares) | 76,935 | 78,672 |
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method (in shares) | 0 | 0 |
Diluted weighted-average shares outstanding (in shares) | 76,935 | 78,672 |
Diluted earnings (loss) per share (in USD per share) | $ (0.04) | $ (0.02) |
EARNINGS PER SHARE AND STOCKH38
EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY: Narrative (Details) - USD ($) shares in Thousands | 3 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | |
Antidilutive securities excluded from computation of earnings per share, amount | 119 | 20 | |
Repurchase of stock (in shares) | 1,900 | ||
Acquisition of treasury stock | $ 45,766,000 | $ 0 | |
Treasury stock, at cost | 1,195,101,000 | $ 1,139,291,000 | |
Accumulated other comprehensive income | $ 8,899,000 | $ 10,767,000 | |
Stock Options And Warrants And Restricted Stock Units | |||
Antidilutive securities excluded from computation of earnings per share, amount | 2,400 | 2,800 | |
Common Stock Repurchase Program | |||
Stock repurchase program, authorized amount | $ 500,000,000 | ||
Repurchase of stock (in shares) | 22,000 | ||
Treasury stock, at cost | $ 420,400,000 | ||
Stock repurchase program, remaining amount | $ 79,600,000 |
EARNINGS PER SHARE AND STOCKH39
EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY: Anti-dilutive shares (Details) - $ / shares shares in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 119 | 20 |
Options and Warrants Exercise Price | $ 32.85 | $ 32.85 |
SHARE-BASED COMPENSATION_ (Deta
SHARE-BASED COMPENSATION: (Details) $ / shares in Units, $ in Thousands | 3 Months Ended |
Jun. 30, 2018USD ($)$ / sharesshares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | 2,565,287 |
Exercised (in shares) | (125,437) |
Forfeited or cancelled (in shares) | (25,831) |
Outstanding at end of the period (in shares) | 2,414,019 |
Exercisable at the end of the period (in shares) | 2,169,170 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 13.61 |
Exercised (in dollars per share) | $ / shares | 8.80 |
Forfeited or cancelled (in dollars per share) | $ / shares | 14.25 |
Outstanding at the end of the period (in dollars per share) | $ / shares | 13.86 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 14.58 |
Weighted-average remaining contractual term | |
Weighted average remaining contractual term | 5 years 1 month 6 days |
Exercisable at the end of the period | 4 years 9 months 18 days |
Aggregate intrinsic value | |
Exercised | $ | $ 2,426 |
Outstanding at the end of the period | $ | 38,910 |
Exercisable at the end of the period | $ | $ 33,397 |
Stock Option and Equity Compensation Plans | |
Share-based compensation | |
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 34,500,000 |
Shares which remained available for future grants (in shares) | 5,100,000 |
SHARE-BASED COMPENSATION_ Stock
SHARE-BASED COMPENSATION: Stock options outstanding and exercisable (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Stock options outstanding and exercisable by exercise price range | ||
Options outstanding (in shares) | 2,414,019 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 1 month | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 13.86 | |
Options exercisable (in shares) | 2,169,170 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 14.58 | |
Range of exercise price per share from $0.61 to $9.99 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 0.61 | |
Exercise price per share, high end of range (in dollars per share) | $ 9.99 | |
Options outstanding (in shares) | 545,583 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 2 months 18 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 1.62 | |
Options exercisable (in shares) | 390,000 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.71 | |
Range of exercise price per share from $10.00 to $19.99 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 10 | |
Exercise price per share, high end of range (in dollars per share) | $ 19.99 | |
Options outstanding (in shares) | 1,176,361 | |
Options outstanding - Weighted-average remaining contractual life | 4 years 4 months 14 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.95 | |
Options exercisable (in shares) | 1,092,595 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 14.74 | |
Range of exercise price per share from $20.00 to $24.99 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 20 | |
Exercise price per share, high end of range (in dollars per share) | $ 24.99 | |
Options outstanding (in shares) | 672,523 | |
Options outstanding - Weighted-average remaining contractual life | 6 years 2 months 16 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.30 | |
Options exercisable (in shares) | 667,023 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.30 | |
Range of exercise price per share from $25.00 to $32.85 | ||
Stock options outstanding and exercisable by exercise price range | ||
Exercise price per share, low end of range (in dollars per share) | 25 | |
Exercise price per share, high end of range (in dollars per share) | $ 32.85 | |
Options outstanding (in shares) | 19,552 | |
Options outstanding - Weighted-average remaining contractual life | 5 years 4 months 13 days | |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 32.85 | |
Options exercisable (in shares) | 19,552 | |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 32.85 | |
Stock options | ||
Stock options outstanding and exercisable by exercise price range | ||
Share-based compensation expense | $ 1 | $ 1.4 |
Share-based compensation not yet recognized | $ 6.3 | |
Period for recognition of unrecognized stock-based compensation expense | 3 years |
SHARE-BASED COMPENSATION_ Perfo
SHARE-BASED COMPENSATION: Performance Stock Option Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Exercised (in dollars per share) | $ 8.80 | ||
Number of shares | |||
Outstanding at beginning of the period (in shares) | 2,565,287 | ||
Forfeited or cancelled (in shares) | (25,831) | ||
Outstanding at end of the period (in shares) | 2,414,019 | 2,565,287 | |
Exercisable at the end of the period (in shares) | 2,169,170 | ||
Weighted-average exercise price per share | |||
Outstanding at the beginning of the period (in dollars per share) | $ 13.61 | ||
Forfeited or cancelled (in dollars per share) | 14.25 | ||
Outstanding at the end of the period (in dollars per share) | 13.86 | $ 13.61 | |
Exercisable at the end of the period (in dollars per share) | $ 14.58 | ||
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term | 5 years 1 month 6 days | ||
Exercisable at the end of the period | 4 years 9 months 18 days | ||
Aggregate intrinsic value | |||
Outstanding at the end of the period | $ 38,910 | ||
Exercisable at the end of the period | 33,397 | ||
Restricted stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 10,900 | $ 8,800 | |
Performance stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation expense | 300 | $ 500 | |
Future expense for performance stock option units | $ 1,100 | ||
Period for recognition of unrecognized stock-based compensation expense | 3 years | ||
Number of shares | |||
Outstanding at beginning of the period (in shares) | 329,404 | ||
Forfeited or cancelled (in shares) | (186,538) | ||
Outstanding at end of the period (in shares) | 142,866 | 329,404 | |
Exercisable at the end of the period (in shares) | 0 | ||
Weighted-average exercise price per share | |||
Outstanding at the beginning of the period (in dollars per share) | $ 21.42 | ||
Forfeited or cancelled (in dollars per share) | 21.41 | ||
Outstanding at the end of the period (in dollars per share) | 21.43 | $ 21.42 | |
Exercisable at the end of the period (in dollars per share) | $ 0 | ||
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term | 1 year 10 months 21 days | ||
Exercisable at the end of the period | 0 years | ||
Aggregate intrinsic value | |||
Outstanding at the end of the period | $ 1,217 | ||
Exercisable at the end of the period | $ 0 | ||
Performance stock | Shares Vesting Based On Relevant Performance Period At March 31 2017 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of units reached maturity | 164,702 | ||
Vesting percentage | 0.00% |
SHARE-BASED COMPENSATION_ Non v
SHARE-BASED COMPENSATION: Non vested time vesting restricted stock unit activity (Details) - Restricted stock units - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | |
Restricted Stock Unit Activity - Other disclosures | |||
Share-based compensation expense | $ 10.9 | $ 8.8 | |
Time Based Vesting | |||
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 3,449,001 | ||
Granted (in shares) | 1,703,482 | ||
Vested (in shares) | (692,206) | ||
Forfeited or cancelled (in shares) | (227,978) | ||
Outstanding at the end of the period (in shares) | 4,232,299 | 3,449,001 | |
Non-vested restricted stock units, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 24.35 | ||
Granted (in dollars per share) | 27.34 | ||
Vested (in dollars per share) | 23.14 | ||
Forfeited or cancelled (in dollars per share) | 24.98 | ||
Outstanding at the end of the period (in dollars per share) | $ 25.72 | $ 24.35 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 2 years 9 months 25 days | 2 years 3 months 25 days | |
Restricted Stock Unit Activity - Other disclosures | |||
Granted (in shares) | 1,703,482 | ||
Aggregate fair value of restricted stock units granted | $ 46.6 | ||
Performance stock | |||
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 682,763 | ||
Granted (in shares) | 216,727 | ||
Vested (in shares) | (20,965) | ||
Forfeited or cancelled (in shares) | (129,123) | ||
Outstanding at the end of the period (in shares) | 749,402 | 682,763 | |
Non-vested restricted stock units, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 25.23 | ||
Granted (in dollars per share) | 31.07 | ||
Vested (in dollars per share) | 19.07 | ||
Forfeited or cancelled (in dollars per share) | 24.13 | ||
Outstanding at the end of the period (in dollars per share) | $ 27.28 | $ 25.23 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 1 year 9 months 11 days | 1 year 6 months 14 days | |
Restricted Stock Unit Activity - Other disclosures | |||
Granted (in shares) | 216,727 | ||
Aggregate fair value of restricted stock units granted | $ 6.7 | ||
Performance Shares Vesting Total Shareholder Return | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 216,727 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Granted (in shares) | 216,727 | ||
Share-based Compensation Award, Tranche One | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | $ 33.5 | ||
Share-based Compensation Award, Tranche Two | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 35.9 | ||
Share-based Compensation Award, Tranche Three | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 25 | ||
Share-based Compensation Award, Tranche Four | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | 13.6 | ||
Share-based Compensation Award, Tranche Five | |||
Restricted Stock Unit Activity - Other disclosures | |||
Future share-based compensation expense expected | $ 1.4 | ||
Vesting in four years | |||
Share-based compensation | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 98,156 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Granted (in shares) | 98,156 | ||
Partial cliff vest tranche one | |||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 1,586,724 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Granted (in shares) | 1,586,724 | ||
Vesting percentage | 25.00% | ||
Partial cliff vesting tranche two | |||
Share-based compensation | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 75.00% | ||
Vesting in one year | |||
Share-based compensation | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Non-vested restricted stock unit activity | |||
Granted (in shares) | 18,602 | ||
Restricted Stock Unit Activity - Other disclosures | |||
Granted (in shares) | 18,602 | ||
Minimum | Performance Shares Vesting Total Shareholder Return | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 0.00% | ||
Maximum | Performance Shares Vesting Total Shareholder Return | |||
Restricted Stock Unit Activity - Other disclosures | |||
Vesting percentage | 200.00% |
SHARE-BASED COMPENSATION_ Other
SHARE-BASED COMPENSATION: Other (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | |
Share-based compensation | |||
Payments Payments related to tax withholding for share-based compensation | $ 10,000 | ||
Percentage of Increment | 0.0333% | ||
Share-based Activity - Other disclosures | |||
Holdback expenses | $ 24,300 | ||
Non-cash stock compensation expense | 20,360 | $ 15,038 | |
Other accrued expenses | $ 58,938 | $ 55,865 | |
Other performance based | |||
Share-based compensation activity | |||
Outstanding at the beginning of the period (in shares) | 111,111 | ||
Vested (in shares) | (45,364) | ||
Forfeited or cancelled (in shares) | (65,747) | ||
Outstanding at the end of the period (in shares) | 0 | 111,111 | |
Share-based compensation, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 5.33 | ||
Vested (in dollars per share) | 5.33 | ||
Forfeited or cancelled (in dollars per share) | 5.33 | ||
Outstanding at the end of the period (in dollars per share) | $ 0 | $ 5.33 | |
Weighted-average remaining contractual term | |||
Weighted average remaining contractual term (in years) | 0 years | 0 years | |
Share-based Activity - Other disclosures | |||
Outstanding at the beginning of the period (in shares) | 45,364 | ||
Arbor Holdback Agreement | |||
Share-based Activity - Other disclosures | |||
Period for recognition of unrecognized stock-based compensation expense | 2 years | ||
Holdback expenses | $ 3,800 | ||
Future expense expected | 14,000 | ||
Arbor | |||
Share-based Activity - Other disclosures | |||
Holdback consideration transferred | 38,300 | ||
Pacific Data Partners LLC | |||
Share-based compensation | |||
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized | 5,900 | ||
Share-based Activity - Other disclosures | |||
Non-cash stock compensation expense | 3,900 | ||
Other accrued expenses | $ 5,300 | ||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||
2,019 | 11,900 | ||
2,020 | 15,700 | ||
2,021 | 15,800 | ||
2,022 | $ 15,700 | ||
Shares Vesting Based On Relevant Performance Period At March 31 2018 | Other performance based | |||
Share-based compensation | |||
Share-based compensation arrangement by share-based payment award, non-option equity instruments, percentage reduction in vested shares | 59.00% | ||
Share-based compensation activity | |||
Outstanding at the end of the period (in shares) | 111,111 |
OTHER CURRENT AND NONCURRENT 45
OTHER CURRENT AND NONCURRENT ASSETS: (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 |
Other current assets | ||
Prepaid expenses and other | $ 25,823 | $ 27,594 |
Assets of non-qualified retirement plan | 14,344 | 13,551 |
Other current assets | 40,167 | 41,145 |
Other noncurrent assets | ||
Acquired intangible assets, net | 31,453 | 33,922 |
Deferred data acquisition costs | 879 | 1,036 |
Other miscellaneous noncurrent assets | 8,626 | 6,510 |
Noncurrent assets | $ 40,958 | $ 41,468 |
OTHER ACCRUED EXPENSES_ (Detail
OTHER ACCRUED EXPENSES: (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 |
Other Accrued Expenses [Abstract]. | ||
Liabilities of non-qualified retirement plan | $ 14,344 | $ 13,551 |
Other accrued expenses | 44,594 | 42,314 |
Other accrued expenses | $ 58,938 | $ 55,865 |
GOODWILL AND INTANGIBLE ASSET47
GOODWILL AND INTANGIBLE ASSETS: (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2018USD ($) | |
Goodwill | |
Goodwill at the beginning of year | $ 595,995 |
Reallocation of segments | 0 |
Change in foreign currency translation adjustment | (200) |
Goodwill at the end of year | 595,795 |
U.S. | |
Goodwill | |
Goodwill at the end of year | 584,430 |
APAC | |
Goodwill | |
Goodwill at the end of year | 11,365 |
LiveRamp | |
Goodwill | |
Goodwill at the beginning of year | 203,639 |
Reallocation of segments | 1,377 |
Change in foreign currency translation adjustment | (62) |
Goodwill at the end of year | 204,954 |
LiveRamp | U.S. | |
Goodwill | |
Goodwill at the end of year | 201,449 |
LiveRamp | APAC | |
Goodwill | |
Goodwill at the end of year | 3,505 |
Acxiom Marketing Solutions | |
Goodwill | |
Goodwill at the beginning of year | 392,356 |
Reallocation of segments | (1,377) |
Change in foreign currency translation adjustment | (138) |
Goodwill at the end of year | 390,841 |
Acxiom Marketing Solutions | U.S. | |
Goodwill | |
Goodwill at the end of year | 382,981 |
Acxiom Marketing Solutions | APAC | |
Goodwill | |
Goodwill at the end of year | $ 7,860 |
GOODWILL AND INTANGIBLE ASSET48
GOODWILL AND INTANGIBLE ASSETS: - Amounts allocated to intangible assets from acquisitions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Jun. 30, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | $ 121,314 | $ 121,296 |
Accumulated amortization | (76,775) | (82,820) |
Total finite-lived intangible assets, net | 44,539 | 38,476 |
LiveRamp | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 38,472 | |
Acxiom Marketing Solutions | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 4 | |
Developed technology, gross (Software) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 54,150 | 54,150 |
Accumulated amortization | (43,533) | (47,119) |
Total finite-lived intangible assets, net | 10,617 | 7,031 |
Developed technology, gross (Software) | LiveRamp | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 7,031 | |
Developed technology, gross (Software) | Acxiom Marketing Solutions | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 0 | |
Trade name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 43,364 | 43,346 |
Accumulated amortization | (27,953) | (29,421) |
Total finite-lived intangible assets, net | 15,411 | 13,925 |
Trade name | LiveRamp | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 13,921 | |
Trade name | Acxiom Marketing Solutions | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 4 | |
Publisher Relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 23,800 | 23,800 |
Accumulated amortization | (5,289) | (6,280) |
Total finite-lived intangible assets, net | $ 18,511 | 17,520 |
Publisher Relationship | LiveRamp | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | 17,520 | |
Publisher Relationship | Acxiom Marketing Solutions | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets, net | $ 0 | |
Minimum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization period | 2 years | |
Maximum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization period | 10 years |
GOODWILL AND INTANGIBLE ASSET49
GOODWILL AND INTANGIBLE ASSETS: - Estimated future amortization expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 6,100 | $ 6,000 | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2,019 | 9,917 | ||
2,020 | 11,950 | ||
2,021 | 8,025 | ||
2,022 | 5,150 | ||
2,023 | 3,434 | ||
Total finite-lived intangible assets, net | $ 38,476 | $ 44,539 |
LONG-TERM DEBT_ Narrative (Deta
LONG-TERM DEBT: Narrative (Details) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Term loans | London Interbank Offered Rate (LIBOR) | ||
Debt Instrument [Line Items] | ||
Long-term debt variable interest rate description | LIBOR | |
Long-term debt basis spread on variable interest rate (as a percent) | 1.75% | |
Term loans | Alternative Base Rate | ||
Debt Instrument [Line Items] | ||
Long-term debt variable interest rate description | Alternative base rate | |
Revolving credit facility | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate on long-term debt (as a percent) | 3.90% | |
Revolving credit facility | London Interbank Offered Rate (LIBOR) | ||
Debt Instrument [Line Items] | ||
Long-term debt variable interest rate description | LIBOR | |
Revolving credit facility | Alternative Base Rate | ||
Debt Instrument [Line Items] | ||
Long-term debt variable interest rate description | Alternative base rate |
LONG-TERM DEBT_ (Details)
LONG-TERM DEBT: (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 |
Debt Instrument [Line Items] | ||
Total long-term debt and capital leases | $ 232,701 | $ 233,293 |
Less current installments | 1,327 | 1,583 |
Less deferred debt financing costs | 3,939 | 3,873 |
Long-term debt, excluding current installments and deferred debt financing costs | 227,435 | 227,837 |
Revolving credit facility | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital leases | 230,000 | 230,000 |
Other debt and long-term liabilities | ||
Debt Instrument [Line Items] | ||
Total long-term debt and capital leases | $ 2,701 | $ 3,293 |
ALLOWANCE FOR DOUBTFUL ACCOUN52
ALLOWANCE FOR DOUBTFUL ACCOUNTS: (Details) - USD ($) $ in Millions | Jun. 30, 2018 | Mar. 31, 2018 |
Valuation and Qualifying Accounts [Abstract] | ||
Allowances for doubtful accounts, returns and credits | $ 5.2 | $ 6.8 |
SEGMENT INFORMATION_ Segment In
SEGMENT INFORMATION: Segment Information (Details) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018USD ($)segment | Jun. 30, 2017USD ($) | |
Segment Reporting [Abstract] | ||
Number of reportable segments | segment | 2 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 226,960 | $ 212,514 |
Gross Profit | 109,689 | 98,554 |
Total segment income from operations | (5,701) | (5,707) |
Acxiom Marketing Solutions | ||
Segment Reporting Information [Line Items] | ||
Revenues | 164,502 | 165,757 |
LiveRamp | ||
Segment Reporting Information [Line Items] | ||
Revenues | 62,458 | 46,757 |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 226,960 | 212,514 |
Gross Profit | 117,374 | 106,093 |
Total segment income from operations | 56,661 | 48,277 |
Operating Segments | Acxiom Marketing Solutions | ||
Segment Reporting Information [Line Items] | ||
Revenues | 62,458 | 46,757 |
Gross Profit | 44,200 | 28,229 |
Total segment income from operations | 9,203 | (97) |
Operating Segments | LiveRamp | ||
Segment Reporting Information [Line Items] | ||
Revenues | 164,502 | 165,757 |
Gross Profit | 73,174 | 77,864 |
Total segment income from operations | $ 47,458 | $ 48,374 |
SEGMENT INFORMATION_ Total oper
SEGMENT INFORMATION: Total operating segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Segment Reporting Information [Line Items] | ||
Gross Profit | $ 109,689 | $ 98,554 |
Total segment income from operations | (5,701) | (5,707) |
Gains, losses and other items, net | 1,286 | |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Gross Profit | 117,374 | 106,093 |
Total segment income from operations | 56,661 | 48,277 |
Segment Reconciling Items | ||
Segment Reporting Information [Line Items] | ||
Purchased intangible asset amortization | 6,054 | 5,966 |
Non-cash stock compensation | 1,631 | 1,573 |
Corporate expenses (principally general and administrative) | 27,840 | 25,966 |
Separation and transformation costs included in general and administrative | 6,822 | 7,119 |
Gains, losses and other items, net | 1,286 | (98) |
Purchased intangible asset amortization | 6,054 | 5,966 |
Non-cash stock compensation | $ 20,360 | $ 15,031 |
RESTRUCTURING, IMPAIRMENT AND55
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Summary of restructuring activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Restructuring Reserve [Roll Forward] | ||
Restructuring charges and adjustments | $ 1,286 | $ (100) |
Continuing operations | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 8,043 | |
Restructuring charges and adjustments | 1,286 | |
Payments | (3,258) | |
Restructuring Reserve, at the end of the period | 6,071 | |
Continuing operations | Associate-related reserves | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 2,751 | |
Restructuring charges and adjustments | 1,286 | |
Payments | (2,923) | |
Restructuring Reserve, at the end of the period | 1,114 | |
Continuing operations | Lease accruals | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 5,292 | |
Restructuring charges and adjustments | 0 | |
Payments | (335) | |
Restructuring Reserve, at the end of the period | $ 4,957 |
RESTRUCTURING, IMPAIRMENT AND56
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 1,286 | $ (100) | ||||
Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 1,300 | $ 6,400 | $ 8,900 | |||
Restructuring Activity2016 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 12,000 | |||||
Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 21,800 | |||||
Employee Severance | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 200 | 3,800 | 3,800 | |||
Employee Severance | Restructuring Activity2016 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 8,600 | |||||
Employee Severance | Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 13,300 | |||||
Other Associate-Related Charges [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring reserve | 700 | |||||
Termination Of Associates | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 2,600 | 3,000 | ||||
Leased office facilities | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 1,500 | |||||
Adjustments to estimates related to the fiscal 2015 lease accruals | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 1,500 | |||||
Lease agreements | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 2,300 | |||||
Contract Termination | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 6,500 | |||||
Contract Termination | Restructuring Activity2016 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 3,000 | |||||
Contract Termination | Restructuring Activity2015 | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring reserve | 300 | |||||
Contract Termination | Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 6,500 | |||||
Leasehold Improvement Write Offs | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 2,100 | |||||
Leasehold Improvement Write Offs | Restructuring Activity2016 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 400 | |||||
Leasehold Improvement Write Offs | Restructuring Activity2015 | Gains Losses And Other Items Net | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 2,000 | |||||
United States Australia Europe And Brazil | Employee Severance | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | 100 | |||||
United States Australia Europe And Brazil | Employee Severance | Restructuring Activity2016 | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 8,600 | |||||
United States Australia China And Europe | Employee Severance | Restructuring Activity2015 | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges and adjustments | $ 13,300 | |||||
Restructuring reserve | $ 300 |
RESTRUCTURING, IMPAIRMENT AND57
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Gains, losses and other items (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Restructuring and Related Activities [Abstract] | ||
Restructuring plan charges and adjustments | $ 1,286 | $ (100) |
Other | 0 | 2 |
Gains, losses and other items, net | $ 1,286 | |
Gains, losses and other items, net | $ (98) |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: (Details) $ in Millions | 3 Months Ended |
Jun. 30, 2018USD ($) | |
Guarantee Type, Other | |
Commitments | |
Maximum potential future rent payments | $ 2 |
Continuing operations | Operating lease and licensing agreements | |
Commitments | |
Term of future commitment for lease payments under noncancellable operating leases (in years) | 22 years |
Contractual obligation | $ 76.5 |
FAIR VALUE OF FINANCIAL INSTR59
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 |
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | $ 14,344 | $ 13,551 |
Other current assets | 40,167 | $ 41,145 |
Fair value measurements on recurring basis | Total | ||
Fair value of assets and liabilities | ||
Other current assets | 14,344 | |
Total assets | 14,344 | |
Fair value measurements on recurring basis | Total | Level 1 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 14,344 | |
Total assets | 14,344 | |
Fair value measurements on recurring basis | Total | Level 2 | ||
Fair value of assets and liabilities | ||
Other current assets | 0 | |
Total assets | 0 | |
Fair value measurements on recurring basis | Total | Level 3 | ||
Fair value of assets and liabilities | ||
Other current assets | 0 | |
Total assets | $ 0 |
SUBSEQUENT EVENT (Details)
SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands | Jul. 02, 2018 | Dec. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2017 |
Subsequent Event [Line Items] | ||||
Cash tender offer for common stock | $ 45,766 | $ 0 | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Acxiom Marketing Solutions | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Cash proceeds from disposal of operations | $ 2,300,000 | |||
Proceeds from sale of disposal group, disposed of by sale, not discontinued operations | $ 1,700,000 | |||
Scenario, Forecast | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Retirement of debt balance | $ 230,000 | |||
Cash tender offer for common stock | 500,000 | |||
Stock repurchase program, authorized amount | $ 500,000 |
Uncategorized Items - acxm-2018
Label | Element | Value |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 12,727,000 |
Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 12,727,000 |