Cover page
Cover page - USD ($) | 12 Months Ended | ||
Mar. 31, 2020 | May 18, 2020 | Sep. 30, 2019 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Mar. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-38669 | ||
Entity Registrant Name | LiveRamp Holdings, Inc. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 83-1269307 | ||
Entity Address, Address Line One | 225 Bush Street, Seventeenth Floor | ||
Entity Address, City or Town | San Francisco | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94104 | ||
City Area Code | 866 | ||
Local Phone Number | 352-3267 | ||
Title of 12(b) Security | Common Stock, $.10 Par Value | ||
Trading Symbol | RAMP | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,097,204,783 | ||
Entity Common Stock, Shares Outstanding | 65,343,715 | ||
Entity Central Index Key | 0000733269 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --03-31 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Documents Incorporated by Reference | Portions of the Proxy Statement for the 2020 Annual Meeting of Stockholders (“2020 Proxy Statement”) of LiveRamp Holdings, Inc. (“LiveRamp,” the “Company,” “we”, “us”, or “our”) are incorporated by reference into Part III of this Form 10-K. |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 717,811 | $ 1,061,473 |
Restricted cash | 14,815 | 0 |
Trade accounts receivable, net | 92,761 | 78,563 |
Refundable income taxes | 38,340 | 7,890 |
Other current assets | 32,666 | 44,150 |
Total current assets | 896,393 | 1,192,076 |
Property and equipment, net of accumulated depreciation and amortization | 19,321 | 26,043 |
Intangible assets, net | 45,200 | 28,592 |
Goodwill | 297,796 | 204,656 |
Deferred commissions, net | 16,014 | 10,741 |
Other assets, net | 27,165 | 10,803 |
Total assets | 1,301,889 | 1,472,911 |
Current liabilities: | ||
Trade accounts payable | 42,204 | 31,203 |
Accrued payroll and related expenses | 28,791 | 18,715 |
Other accrued expenses | 68,991 | 40,916 |
Acquisition escrow payable | 14,815 | 0 |
Deferred revenue | 6,581 | 4,284 |
Total current liabilities | 161,382 | 95,118 |
Other liabilities | 52,995 | 46,961 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, $1.00 par value (authorized 1 million shares; issued 0 shares at March 31, 2020 and 2019, respectively) | 0 | 0 |
Common stock, $0.10 par value (authorized 200 million shares; issued 143.9 million and 141.9 million shares at March 31, 2020 and 2019, respectively) | 14,394 | 14,187 |
Additional paid-in capital | 1,496,565 | 1,406,813 |
Retained earnings | 1,545,094 | 1,669,605 |
Accumulated other comprehensive income | 5,745 | 7,801 |
Treasury stock, at cost (78.1 million and 73.2 million n shares at March 31, 2020 and 2019, respectively) | (1,974,286) | (1,767,574) |
Total stockholders' equity | 1,087,512 | 1,330,832 |
TOTAL LIABILITIES AND EQUITY | $ 1,301,889 | $ 1,472,911 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2020 | Mar. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par or stated value (in dollars per shares) | $ 1 | $ 1 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock issued (in shares) | 0 | 0 |
Common stock, par or stated value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 143,900,000 | 141,900,000 |
Treasury stock, at cost (in shares) | 78,100,000 | 73,200,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Statement [Abstract] | |||
Revenues | $ 380,572 | $ 285,620 | $ 220,101 |
Cost of revenue | 152,704 | 120,718 | 96,396 |
Gross profit | 227,868 | 164,902 | 123,705 |
Operating expenses: | |||
Research and development | 105,981 | 85,697 | 60,713 |
Sales and marketing | 188,905 | 158,540 | 108,639 |
General and administrative | 108,903 | 98,878 | 85,154 |
Gains, losses and other items, net | 5,001 | 19,933 | 2,723 |
Total operating expenses | 408,790 | 363,048 | 257,229 |
Loss from operations | (180,922) | (198,146) | (133,524) |
Total other income | 15,385 | 18,790 | 502 |
Loss from continuing operations before income taxes | (165,537) | (179,356) | (133,022) |
Income taxes (benefit) | (40,276) | (45,409) | (65,723) |
Net loss from continuing operations | (125,261) | (133,947) | (67,299) |
Earnings from discontinued operations, net of tax | 750 | 1,162,494 | 90,779 |
Net loss | $ (124,511) | $ 1,028,547 | $ 23,480 |
Basic earnings (loss) per share: | |||
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (1.85) | $ (1.79) | $ (0.85) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0.01 | 15.50 | 1.15 |
Basic earnings (loss) per share (in dollars per share) | (1.84) | 13.71 | 0.30 |
Diluted earnings (loss) per share: | |||
Diluted earnings (loss) per share from continuing operations (in dollars per share) | (1.85) | (1.79) | (0.85) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0.01 | 15.50 | 1.15 |
Diluted earnings (loss), net per share (in USD per share) | $ (1.84) | $ 13.71 | $ 0.30 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Net earnings (loss) | $ (124,511) | $ 1,028,547 | $ 23,480 |
Other comprehensive income (loss): | |||
Change in foreign currency translation adjustment | (2,056) | (2,966) | 2,768 |
Comprehensive income (loss) | $ (126,567) | $ 1,025,581 | $ 26,248 |
CONSOLIDATED STATEMENT OF EQUIT
CONSOLIDATED STATEMENT OF EQUITY - 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, 2017 | 132,875,373 | (54,582,392) | ||||
Balance, beginning of the period at Mar. 31, 2017 | $ 738,980 | $ 13,288 | $ 1,154,429 | $ 602,609 | $ 7,999 | $ (1,039,345) |
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 1,054,754 | (420,419) | ||||
Employee stock awards, benefit plans and other issuances | 8,665 | $ 105 | 19,622 | $ (11,062) | ||
Non-cash stock-based compensation (in shares) | 628,208 | |||||
Non-cash stock-based compensation | 61,460 | $ 63 | 61,397 | |||
Restricted stock units vested (in shares) | 1,521,341 | |||||
Restricted stock units vested | 0 | $ 153 | (153) | |||
Acquisition of treasury stock (in shares) | (3,302,106) | |||||
Acquisition of treasury stock | (88,884) | $ (88,884) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | 2,768 | 2,768 | ||||
Net earnings (loss) | 23,480 | 23,480 | ||||
Balance, end of the period (in shares) at Mar. 31, 2018 | 136,079,676 | (58,304,917) | ||||
Balance, end 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) | 1,330,757 | (1,202,243) | ||||
Employee stock awards, benefit plans and other issuances | (30,101) | $ 133 | 20,286 | $ (50,520) | ||
Non-cash stock-based compensation (in shares) | 415,706 | |||||
Non-cash stock-based compensation | 88,483 | $ 41 | 88,442 | |||
Restricted stock units vested (in shares) | 4,039,749 | |||||
Restricted stock units vested | 0 | $ 404 | (404) | |||
Acquisition of treasury stock (in shares) | (2,428,265) | |||||
Acquisition of treasury stock | (74,421) | $ (74,421) | ||||
Non-cash stock-based compensation from discontinued operations | 62,861 | 62,861 | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (2,966) | (2,966) | ||||
Net earnings (loss) | 1,028,547 | 1,028,547 | ||||
Warrant exercises | 0 | (51) | $ 51 | |||
Warrant exercises (in shares) | 3,488 | |||||
Acquisition of treasury stock from tender offer (in shares) | 11,235,955 | |||||
Tender offer | (503,393) | $ (503,393) | ||||
Balance, end of the period (in shares) at Mar. 31, 2019 | 141,865,888 | (73,167,892) | ||||
Balance, end of the period at Mar. 31, 2019 | 1,330,832 | $ 14,187 | 1,406,813 | 1,669,605 | 7,801 | $ (1,767,574) |
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 266,011 | (537,694) | ||||
Employee stock awards, benefit plans and other issuances | (19,786) | $ 27 | 4,709 | $ (24,522) | ||
Non-cash stock-based compensation (in shares) | 71,211 | |||||
Non-cash stock-based compensation | 65,219 | $ 7 | 65,212 | |||
Restricted stock units vested (in shares) | 1,342,337 | |||||
Restricted stock units vested | 0 | $ 134 | (134) | |||
Acquisition of treasury stock (in shares) | (4,375,728) | |||||
Acquisition of treasury stock | (182,190) | $ (182,190) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (2,056) | (2,056) | ||||
Net earnings (loss) | (124,511) | (124,511) | ||||
Liability-classified restricted stock units vested (in shares) | 393,306 | |||||
Liability-classified restricted stock units vested | 17,704 | $ 39 | 17,665 | |||
Acquisition-related replacement stock options | 2,300 | 2,300 | ||||
Balance, end of the period (in shares) at Mar. 31, 2020 | 143,938,753 | (78,081,314) | ||||
Balance, end of the period at Mar. 31, 2020 | $ 1,087,512 | $ 14,394 | $ 1,496,565 | $ 1,545,094 | $ 5,745 | $ (1,974,286) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 17 Months Ended | |||||
Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||||||||
Net earnings (loss) | $ (4,129) | $ (42,140) | $ (45,461) | $ (3,015) | $ (124,511) | $ 1,028,547 | $ 23,480 | |
Earnings from discontinued operations | (750) | 0 | (4,227) | (24,803) | (750) | (1,162,494) | (90,779) | |
Non-cash operating activities: | ||||||||
Depreciation and amortization | 35,901 | 33,782 | 37,647 | |||||
Loss on disposal or impairment of assets | 1,725 | 3,460 | 2,891 | |||||
Provision for doubtful accounts | 7,133 | 3,069 | 1,214 | |||||
Accelerated debt issuance costs | 0 | 0 | 720 | |||||
Deferred income taxes | (6,878) | 9,894 | (27,798) | |||||
Non-cash stock compensation expense | 89,447 | 102,722 | 52,867 | |||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, net | (20,518) | (44,411) | (13,703) | |||||
Deferred commissions | (5,273) | (4,298) | 0 | |||||
Other assets | (6,144) | (3,106) | 562 | |||||
Accounts payable and other liabilities | 24,923 | 25,308 | (3,219) | |||||
Income taxes, net | (25,453) | 5,087 | 2,310 | |||||
Deferred revenue | 1,823 | 462 | (282) | |||||
Net cash used in operating activities | (28,575) | (1,978) | (14,090) | |||||
Cash flows from investing activities: | ||||||||
Capitalized software | 0 | (1,322) | (3,266) | |||||
Capital expenditures | (11,711) | (7,320) | (9,375) | |||||
Proceeds from sales of assets | 873 | 0 | 0 | |||||
Cash paid in acquisitions, net of cash received | (105,365) | 0 | (4,478) | |||||
Payments for investments | 0 | (2,500) | (1,000) | |||||
Net cash received from disposition | 0 | 0 | 4,000 | |||||
Net cash used in investing activities | (116,203) | (11,142) | (14,119) | |||||
Cash flows from financing activities: | ||||||||
Proceeds from debt | 0 | 0 | 230,000 | |||||
Payments of debt | 0 | (233,293) | (227,320) | |||||
Fees from debt refinancing | 0 | (300) | (4,001) | |||||
Proceeds related to the issuance of common stock under stock and employee benefit plans | 4,736 | 20,419 | 19,727 | |||||
Shares repurchased for tax withholdings upon vesting of stock-based awards | (24,522) | (50,520) | (11,062) | |||||
Acquisition of treasury stock from tender offer | 0 | (503,393) | 0 | |||||
Acquisition of treasury stock | (182,190) | (74,421) | (88,884) | $ (631,200) | ||||
Net cash used in financing activities | (201,976) | (841,508) | (81,540) | |||||
Net cash used in continuing operations | (346,754) | (854,628) | (109,749) | |||||
Cash flows from discontinued operations: | ||||||||
From operating activities | (207) | (458,525) | 125,645 | |||||
From investing activities | 18,582 | 2,236,530 | (46,202) | |||||
Effect of exchange rate changes on cash | 0 | (172) | 206 | |||||
Net cash provided by discontinued operations | 18,375 | 1,777,833 | 79,649 | |||||
Effect of exchange rate changes on cash | (468) | (1,750) | 1,438 | |||||
Net change in cash, cash equivalents and restricted cash | (328,847) | 921,455 | (28,662) | |||||
Cash, cash equivalents and restricted cash at beginning of period | $ 1,061,473 | $ 140,018 | 1,061,473 | 140,018 | 168,680 | |||
Cash, cash equivalents and restricted cash at end of period | $ 732,626 | $ 1,061,473 | 732,626 | 1,061,473 | 140,018 | $ 732,626 | ||
Supplemental cash flow information: | ||||||||
Cash paid (received) for income taxes | (7,344) | 439,542 | (1,236) | |||||
Non-cash investing and financing activities: | ||||||||
Leasehold improvements paid directly by lessor | $ 0 | $ 0 | $ 505 |
ORGANIZATION AND SUMMARY OF SIG
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Description of Business - On September 20, 2018, we implemented a holding company reorganization, as a result of which Acxiom Holdings, Inc. became the successor issuer to Acxiom Corporation. On October 1, 2018, we changed our name to LiveRamp Holdings, Inc. ("LiveRamp"). References to "we", "us", "our" or the "Company" for events that occurred prior to September 20, 2018 refer to Acxiom Corporation and its subsidiaries; for events that occurred from September 20, 2018 to October 1, 2018, to Acxiom Holdings, Inc. and its subsidiaries; and after October 1, 2018, to LiveRamp Holdings, Inc. and Subsidiaries. LiveRamp is a global technology company with a vision of making it safe and easy for companies to use data effectively. We provide a best-in-class enterprise data connectivity platform that helps organizations better leverage customer data within and outside their four walls. Powered by core identity capabilities and an extensive network, LiveRamp enables companies and their partners to better connect, control, and activate data to transform customer experiences and generate more valuable business outcomes. LiveRamp is a Delaware corporation headquartered in San Francisco, California. Our common stock is listed on the New York Stock Exchange under the symbol “RAMP.” We serve a global client base from locations in the United States, Europe, and the Asia-Pacific (“APAC”) region. Our direct client list includes many of the world’s largest and best-known brands across most major industry verticals, including but not limited to financial, insurance and investment services, retail, automotive, telecommunications, high tech, consumer packaged goods, healthcare, travel, entertainment, non-profit, and government. Through our extensive reseller and partnership network, we serve thousands of additional companies, establishing LiveRamp as a foundational and neutral enabler of the customer experience economy. Basis of Presentation and Principles of Consolidation - The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, after elimination of all significant intercompany accounts and transactions. We have prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification and Updates (“ASC” and "ASU") and we consider the various staff accounting bulletins and other applicable guidance issued by the United States Securities and Exchange Commission ("SEC"). Our fiscal year ends on March 31. References to fiscal 2020, for example, are to the fiscal year ended March 31, 2020. Use of Estimates - In preparing consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we must make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used in determining, among other items, revenue recognition criteria, allowance for doubtful accounts, the fair value of acquired assets and assumed liabilities, restructuring and impairment accruals, litigation and facilities lease loss accruals, stock-based compensation, and the recognition and measurement of current and deferred income taxes, including the measurement of uncertain tax positions. Risks and Uncertainties - During March 2020, the World Health Organization declared the a pandemic related to the current and continuing outbreak of a novel strain of coronavirus ("COVID-19"). The COVID-19 pandemic has significantly impacted health and economic conditions throughout the United States and globally. Federal, state and local governments took a variety of actions to contain the spread of COVID-19. The pandemic has not had a material impact on our business to date; however, continued economic disruption and the ultimate severity of the pandemic could have adverse impacts on our financial position and cash flows, particularly related to certain of our customers in industries more negatively impacted by COVID-19. Operating Segments - The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker. Our chief operating decision maker evaluates our financial information and resources and assesses the performance of these resources on a consolidated basis. Since we operate as one operating segment, all required financial segment information can be found in the consolidated financial statements. Discontinued Operations - Discontinued operations comprise those activities that have been disposed of during the period or that have been classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. In fiscal 2019, the Company sold its Acxiom Marketing Solutions business (“AMS”) and began reporting the results of operations, cash flows and the balance sheet amounts pertaining to AMS as a component of discontinued operations in the consolidated financial statements. The amount recorded in fiscal 2020 relates to the final working capital true-up and receipt of final proceeds. Unless otherwise indicated, information in the notes to the consolidated financial statements relates to continuing operations. Earnings (Loss) per Share - A reconciliation of the numerator and denominator of basic and diluted earnings (loss) per share is shown below (in thousands, except per share amounts): Year ended March 31, 2020 2019 2018 Basic earnings (loss) per share: Net loss from continuing operations $ (125,261) $ (133,947) $ (67,299) Earnings from discontinued operations, net of tax 750 1,162,494 90,779 Net earnings (loss) $ (124,511) $ 1,028,547 $ 23,480 Basic weighted-average shares outstanding 67,760 75,020 78,891 Continuing operations $ (1.85) $ (1.79) $ (0.85) Discontinued operations 0.01 15.50 1.15 Basic earnings (loss) per share $ (1.84) $ 13.71 $ 0.30 Diluted earnings (loss) per share: Basic weighted-average shares outstanding 67,760 75,020 78,891 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — — — Diluted weighted-average shares outstanding 67,760 75,020 78,891 Continuing operations $ (1.85) $ (1.79) $ (0.85) Discontinued operations 0.01 15.50 1.15 Diluted earnings (loss) per share $ (1.84) $ 13.71 $ 0.30 Due to the net loss from continuing operations in each year presented, there is no dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method. The number of options, warrants, and restricted stock units that would have otherwise been dilutive are shown below (shares in thousands): Year ended March 31, 2020 2019 2018 Number of shares outstanding under options, warrants and restricted stock units plans 2,393 3,393 2,627 Additional options 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 earnings per share because the effect was anti-dilutive are shown below (in thousands, except per share amounts): Year ended March 31, 2020 2019 2018 Number of shares outstanding under options and restricted stock units plans 1,368 227 20 Range of exercise prices for options (lower) N/A N/A $ 32.85 Range of exercise prices for options (upper) N/A N/A $ 32.85 Significant Accounting Policies Cash and Cash Equivalents - The Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash equivalents consist of cash held in bank deposit accounts and short-term, highly-liquid money-market fund investments with remaining maturities of three months or less at the date of purchase. Revenue Recognition - On April 1, 2019, the Company adopted ASU No. 2014-09, codified as ASC 606, Revenue from Contracts with Customers . The impact of the adoption did not have a material impact on revenue recognition from our accounting policy followed for fiscal 2018 under ASC 605 , Revenue Recognition , with the exception of the accounting for costs to obtain a contract. LiveRamp recognizes revenue from the following sources: (i) subscription revenue, which consists primarily of subscription fees from clients accessing our LiveRamp platform; and (ii) marketplace and other revenue, which primarily consists of revenue-sharing fees generated from access to data through our LiveRamp Data Marketplace, and transactional usage-based revenue from arrangements with certain publishers and addressable TV providers. Our subscription pricing is tiered based on data volume supported by our platform. We determine 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; and • Recognition of revenue when, or as, the performance obligations are satisfied. Identification of the contract A customer contract is primarily identified when the Company and a customer have executed an arrangement or arrangements that set out the terms of the relationship. Identification of the performance obligations As part of accounting for arrangements with multiple performance obligations, we must assess whether each performance obligation is distinct. A good or service that is promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and a company's promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. We have determined that our subscriptions to the platform is distinct and access to data for revenue-sharing and usage-based arrangements are distinct because, once a customer has access to the platform, the product is fully functional and does not require any additional development, modification, or customization. Determination of the transaction price The transaction price is the amount of consideration we expect to be entitled to in exchange for transferring services to a customer, excluding sales taxes that are collected on behalf of government agencies. The Company estimates any variable consideration to which it will be entitled at contract inception, and reassesses at each reporting date, when determining the transaction price. The Company does not include variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when any uncertainty associated with the variable consideration is resolved. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each distinct performance obligation based on the standalone selling price ("SSP") of each service. We generally determine the SSP based on contractual selling prices when the obligation is sold on a standalone basis, as well as market conditions, competition, and pricing practices. As pricing and marketing strategies evolve, we may modify our pricing practices in the future, which could result in changes to SSP. Recognition of revenue when, or as, the performance obligations are satisfied Revenues are recognized when or as control of the promised services is transferred to customers. Subscription revenue is generally recognized ratably over the subscription period beginning on the date the services are made available to customers. Marketplace and other revenue is typically transactional in nature, tied to a revenue share or volumes purchased. We report revenue from Marketplace and other similar transactions on a net basis because our performance obligation is to facilitate a transaction between data providers and end users, for which we earn a portion of the gross fee. Consequently, the portion of the gross amount billed to end users that is remitted to data providers is not reflected as revenues. Disaggregation of Revenue The Company reports disaggregation of revenue based on primary geographical markets and major service offerings (see Note 3 - Revenue from Contracts with Customers). Accounts Receivable Accounts receivable includes amounts billed to customers as well as unbilled amounts recognized in accordance with the Company’s revenue recognition policies. Unbilled amounts included in trade accounts receivable, net, which generally arise from the performance of services to customers in advance of billings, were $5.0 million at March 31, 2020 and $2.5 million at March 31, 2019. Accounts receivable are presented net of allowance for doubtful accounts. The Company evaluates its allowance for doubtful accounts based on a combination of factors at each reporting date. Each account is evaluated based on specific information known to management regarding each customer’s ability or inability to pay, as well as historical experience for each customer, the length of time the receivable has been outstanding, and current economic conditions in the customer’s industry. Accounts receivable that are determined to be uncollectible are charged against the allowance for doubtful accounts. Indicators that there is no reasonable expectation of recovery include past due status greater than 360 days or bankruptcy of the debtor. We are monitoring the impacts from the COVID-19 pandemic on our customers and various counterparties. During the year ended March 31, 2020, the Company recorded an addition al $3.5 million of bad debt expense as a result of increased collection risk for certain customer industries. A summary of the activity of the allowance for doubtful accounts, returns and credits was (dollars in thousands): For the year ended: Balance at beginning of period Additions charged to costs and expenses Other changes Bad debts written off, net of amounts recovered Balance at end of period March 31, 2018 $ 2,137 1,214 123 (292) $ 3,182 March 31, 2019 $ 3,182 3,069 (92) (3,152) $ 3,007 March 31, 2020 $ 3,007 7,133 86 (2,651) $ 7,575 Deferred Revenue Deferred revenue consists of amounts billed in excess of revenue recognized. Deferred revenues are subsequently recorded as revenue when earned in accordance with the Company’s revenue recognition policies. Deferred Commissions, net - The Company capitalizes incremental costs to acquire contracts and amortizes them on a straight-line basis over the expected period of benefit, which we have determined to be four years. Net capitalized costs of $5.3 million and $4.3 million were recognized as a reduction of operating expense for the years ended March 31, 2020 and 2019, respectively. We did not recognize any impairment charges in fiscal 2020 or 2019. Property and Equipment - Property and equipment are stated at cost. Depreciation and amortization are calculated on the straight-line method over the estimated useful lives of the assets as follows: leasehold improvements, 5 - 7 years; data processing equipment, 2 - 5 years, and office furniture and other equipment, 3 - 7 years. Operating Leases - On April 1, 2019, the Company adopted ASU No. 2016-02, codified as ASC 842 Leases , using the modified retrospective transition method. The Company elected the transition option provided by ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, to not restate comparative periods, but rather to initially adopt the requirements of ASC 842 on April 1, 2019. The resulting impact, as of the adoption date, was the recognition of right-of-use assets included in other assets, net of $22.9 million, short-term lease liabilities included in other accrued expenses of $8.4 million, long-term lease liabilities included in other liabilities of $17.9 million, and a decrease to deferred rent included in other liabilities of $3.4 million. There was no material impact to the consolidated statements of operations or stockholders' equity as a result of adopting the new guidance. The Company applied the new standard using the practical expedients permitted under the transition guidance where the Company: • did not reassess whether any expired or existing contracts contain a lease; • did not reassess the classification of existing leases; and • did not reassess initial direct costs for any existing leases. Right-of-use assets represent the Company's right to control the use of an identified asset for a period of time, or term, in exchange for consideration, and operating lease liabilities represent its obligation to make lease payments arising from the aforementioned right. The Company determines if an arrangement is, or contains, a lease at inception, and whether lease and non-lease components are combined or not. Operating leases with a duration of one year or less are excluded from right-of-use assets and lease liabilities and related expense is recorded as incurred. Right-of-use assets and lease liabilities are initially recorded based on the present value of lease payments over the lease term, which includes the minimum unconditional term of the lease, and may include options to extend or terminate the lease when it is reasonably certain at the commencement date that such options will be exercised. As the rate implicit for each of the Company's leases is not readily determinable, the Company uses its incremental borrowing rate at commencement date in determining the present value of lease payments. The Company uses judgement in determining its incremental borrowing rate, which includes selecting a yield curve based on a hypothetical credit rating. Right-of-use assets also include any initial direct costs and any lease payments made prior to the lease commencement date and are reduced by any lease incentives received. Right-of-use assets are included in other assets in the consolidated balance sheet. Short-term lease liabilities are included in other accrued expenses and long-term lease liabilities are included in other liabilities in the consolidated balance sheet. Right-of-use assets are amortized on a straight-line basis as operating lease cost in the consolidated statements of operations. Refer to Note 2 - Leases for additional information. Business Combinations – We apply the provisions of ASC 805, Business Combinations , in accounting for acquisitions. It requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at the acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. Goodwill - Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business acquisitions accounted for using the acquisition method of accounting and is not amortized. Goodwill is measured and tested for impairment on an annual basis in the first quarter of the Company's fiscal year in accordance with ASC 350, Intangibles-Goodwill and Other , or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. We completed our annual impairment test during the first quarter of fiscal 2020. We did not recognize any goodwill impairment charges in fiscal 2020, 2019 or 2018. As a result of the organizational realignment and subsequent sale of the Acxiom Marketing Solutions business in fiscal 2019, we now operate as one operating segment and as a result, evaluate goodwill impairment based on our fair value as a whole. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker. While we have offerings in multiple market segments, our chief operating decision maker evaluates our financial information and resources and assesses the performance of these resources on a consolidated basis. Intangible Assets - We amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists. We continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets, including our intangible assets, may not be recoverable. When such events or changes in circumstances occur, we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows are less than the carrying amount of these assets, we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets. We did not recognize any intangible asset impairment charges in fiscal 2020, 2019 or 2018. During fiscal 2020, our intangible assets were amortized over their estimated useful lives ranging from two years to six years. Amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent. The weighted average useful lives of our intangible assets were as follows: Weighted Average Useful Life (years) Developed technology 3.9 Customer relationships 5.3 Publisher and Data Supply relationships 5.2 Impairment of Long-lived Assets - Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company considers factors such as operating losses, declining outlooks, and business conditions when evaluating the necessity for an impairment analysis. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset group to the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If such assets are impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. We did not recognize any impairment charges related to long-lived assets in fiscal 2020, 2019 or 2018. Fair Value of Financial Instruments - We apply the provisions of ASC 820, Fair Value Measurement , to our assets and liabilities that we are required to measure at fair value pursuant to other accounting standards. The additional disclosure regarding our fair value measurements is included in Note 17 - Fair Value of Financial Instruments. Concentration of Credit Risk and Significant Customers - Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. The Company maintains deposits in federally insured financial institutions more than federally insured limits. Management, however, believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has no significant off-balance sheet risk such as foreign exchange contracts, options contracts, or other hedging arrangements. The Company’s trade accounts receivables are from a large number of customers. Accordingly, the Company’s credit risk is affected by general economic conditions. At March 31, 2020 and 2019 there were no customers that represented more than 10% of the trade accounts receivable balance. Our ten largest clients represented approximately 35% of our revenues in fiscal year 2020. One client, The Interpublic Group of Companies, accounted for 14% of our revenues in fiscal year 2020. Income Taxes - The Company and its domestic subsidiaries file a consolidated federal income tax return. The Company’s foreign subsidiaries file separate income tax returns in the countries in which their operations are based. The Company makes estimates and judgments in determining the provision for income taxes for financial statement purposes. These estimates and judgments occur in the calculation of tax credits, benefits, and deductions, and in the calculation of certain deferred tax assets and liabilities that arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes, as well as the interest and penalties related to uncertain tax positions. Significant changes in these estimates may result in an increase or decrease to the tax provision in a subsequent period. The Company assesses the likelihood that it will be able to recover its deferred tax assets. If recovery is not likely, the Company increases the provision for taxes by recording a valuation allowance against the deferred tax assets that it estimates will not ultimately be recoverable. The calculation of tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process pursuant to ASC 740, Income Taxes . The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained on audit, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company must determine the probability of various outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors such as changes in facts or circumstances, changes in tax law, new audit activity, and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. On March 27, 2020, the U.S. enacted The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act included several significant changes and clarifications to existing tax law, including changes to the treatment of net operating losses (“NOLs”). Under the CARES Act, NOLs arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the tax year of the loss. As such, the Company plans to carry back its fiscal 2020 NOL, resulting in an expected refund of approximately $32 million. Foreign Currency - The reporting currency of the Company is the U.S. dollar. The functional currency of our foreign operations generally is the applicable local currency for each foreign subsidiary. The balance sheets of the Company’s foreign subsidiaries are translated at period-end rates of exchange, and the statements of operations are translated at the average exchange rate for the period. The effects of foreign currency translation adjustments are included in accumulated other comprehensive income in the consolidated statements of stockholders’ equity and comprehensive income. Advertising Expense - Advertising costs are expensed as incurred. Advertising expense was approximately $9.8 million, $8.2 million, and $8.3 million for the fiscal years ended March 31, 2020, 2019 and 2018, respectively. Advertising expense is included in operating expenses in the consolidated statements of operations. Legal Contingencies - We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant matter and assess our potential financial exposure. We accrue a liability for an estimated loss if the potential loss from any claim or legal proceeding is considered probable, and the amount can be reasonably estimated. Note 12 - Commitments and Contingencies provides additional information regarding certain of our legal contingencies. Stock-Based Compensation - The Company records stock-based compensation expense according to the provisions of ASC Topic 718, Compensation – Stock Compensation . ASC Topic 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the statement of operations over the service period of the award based on their fair values. Under the provisions of ASC Topic 718, the Company determines the appropriate fair value model to be used for valuing stock-based payments and the amortization method for compensation cost. The Company has stock option plans and equity compensation plans (collectively referred to as the “stock-based plans”) administered by the compensation committee of the board of directors (“compensation committee”) under which options and restricted stock units were outstanding as of March 31, 2020. The Company’s equity compensation plan provides that all associates (employees, officers, directors, affiliates, independent contractors or consultants) are eligible to receive awards (grant of any option, stock appreciation right, restricted stock award, restricted stock unit award, performance award, performance share, performance unit, qualified performance-based award, or other stock unit award) under the plan with the terms and conditions applicable to an award set forth in applicable grant documents. Incentive stock option awards granted under the stock-based plans cannot be granted with an exercise price less than 100% of the per-share market value of the Company’s shares at the date of grant and have a maximum duration of ten years from the date of grant. Board policy currently requires that non-qualified options also must be priced at or above 100% of the fair market value of the common stock at the time of grant with a maximum duration of ten years. Restricted stock units may be issued under the equity compensation plan and represent the right to receive shares in the future by way of an award agreement that includes vesting provisions. Award agreements can further provide for forfeitures triggered by certain prohibited activities, such as breach of confidentiality. All restricted stock units are expensed over the vesting period and adjusted for forfeitures as incurred. The vesting of some restricted stock units is subject to the Company’s achievement of certain performance criteria, as well as the individual remaining employed by the Company for a period of years. The Company receives income tax deductions because of the exercise of non-qualified stock options and the vesting of other stock-based awards. To the extent the income tax deductions differ from the corresponding stock-based compensation expense, such excess tax benefits and deficiencies are included as a component of income tax expense and reflected as an operating cash flow included in changes in operating assets and liabilities. Restructuring – The Company records costs associated with employee terminations and other exit activity in accordance with ASC 420, Exit or Disposal Cost Obligations , depending on whether the costs relate to exit or disposal activities under the accounting standards, or whether they are other p |
LEASES_
LEASES: | 12 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Leases | LEASES Right-of-use asset and lease liability balances consist of the following at March 31, 2020 (dollars in millions): March 31, 2020 Right-of-use assets included in other assets, net $ 17.8 Short-term lease liabilities included in other accrued expenses $ 9.6 Long-term lease liabilities included in other liabilities $ 11.4 The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2025. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property service fees, and other factors. Operating lease costs were $10.1 million for the twelve months ended March 31, 2020. Rent expense recorded prior to the adoption of Topic 842 lease guidance was $12.8 million and $9.5 million for the fiscal years ended March 31, 2019 and 2018, respectively. Supplemental information related to operating leases is as follows (dollars in thousands): Year ended March 31, 2020 Operating cash flows used for operating leases $ 9,906 Right-of-use assets obtained in exchange for new lease liabilities $ 2,707 Weighted average remaining lease term 2.4 years Weighted average discount rate 5.0 % Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2020 are as follows (dollars in thousands): Amount Fiscal 2021 $ 10,703 Fiscal 2022 9,076 Fiscal 2023 2,678 Fiscal 2024 767 Fiscal 2025 65 Thereafter — Total undiscounted lease commitments 23,289 Less: Interest and short-term leases 2,199 Total discounted operating lease liabilities $ 21,090 Future minimum payments as of March 31, 2020 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 4) are: Fiscal 2021: $2,560; Fiscal 2022: $2,611; Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Thereafter: $1,799. Supplemental information for comparative periods (dollars in thousands): As previously disclosed in our Fiscal 2019 Annual Report on Form 10-K and under the previous lease accounting standard, the future minimum payments under all operating leases as of March 31, 2019 was as follow: For the years ending March 31, 2020 2021 2022 2023 2024 Thereafter Total Operating leases $ 12,057 $ 11,253 $ 10,865 $ 5,160 $ 3,270 $ 4,497 $ 47,102 |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS: | 12 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). Year ended March 31, Primary Geographical Markets 2020 2019 2018 United States $ 354,437 $ 262,135 $ 197,613 Europe 20,789 18,566 18,397 APAC 5,346 4,919 4,091 $ 380,572 $ 285,620 $ 220,101 Major Offerings/Services Subscription $ 305,679 $ 236,718 $ 172,079 Marketplace and Other 74,893 48,902 48,022 $ 380,572 $ 285,620 $ 220,101 Transaction Price Allocated to the Remaining Performance Obligations We have performance obligations 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 $350.0 million as of March 31, 2020. Additionally, the amount to be recognized over the next twelve months was $221.4 million. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2024. |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | 12 Months Ended |
Mar. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: The following table summarizes the Company's restructuring activity for the fiscal years ended March 31, 2020, 2019, and 2018 (dollars in thousands): Associate-related Lease Total March 31, 2017 $ 322 $ 4,308 $ 4,630 Restructuring charges and adjustments 182 2,564 2,746 Payments 38 (1,584) (1,546) March 31, 2018 542 5,288 5,830 Restructuring charges and adjustments 6,163 1,582 7,745 Payments (2,110) (1,182) (3,292) March 31, 2019 4,595 5,688 10,283 Restructuring charges and adjustments 2,291 1,139 3,430 Payments (6,436) (584) (7,020) March 31, 2020 $ 450 $ 6,243 $ 6,693 The above balances are included in other accrued expenses and other liabilities in the consolidated balance sheets. Restructuring Plans In the twelve months ended March 31, 2020, the Company recorded a total of $3.4 million in restructuring charges and adjustments included in gains, losses and other items, net in the consolidated statement of operations. The fiscal year 2020 expense included severance and other associate-related charges in APAC of $0.6 million, adjustments to fiscal 2019 restructuring plans for associates in the United States of $1.7 million, and lease accruals and adjustments of $1.1 million. Of the associate-related accruals of $0.6 million, $0.2 million remained accrued as of March 31, 2020 In fiscal 2019, the Company recorded a total of $7.7 million in restructuring charges and adjustments included in gains, losses and other items, net in the consolidated statement of operations. The fiscal 2019 expense included restructuring plans primarily for associates in the United States and APAC of $6.1 million, lease accruals and adjustments of $0.8 million, and leasehold improvement write-offs of $0.8 million. The associate-related accruals of $6.1 million were paid out in fiscal 2020. In fiscal 2018, the Company recorded a total of $2.7 million in restructuring charges and adjustments included in gains, losses and other items, net in the consolidated statement of operations. The expense included severance and other associate-related charges of $0.2 million, and lease accruals and adjustments of $2.5 million. The associate-related accruals of $0.2 million were paid out in fiscal 2019. The lease accruals and adjustments of $2.5 million result from the Company's exit from certain leased office facilities. In fiscal 2017, the Company recorded a total of $3.0 million in restructuring charges and adjustments included in gains, losses and other items, net in the consolidated statement of operations. The expense included lease accruals and adjustments of $3.0 million resulting 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). In fiscal 2015, the Company recorded a total of $9.3 million in restructuring charges and adjustments included in gains, losses and other items, net in the consolidated statement of operations. The expense included severance and other associate-related charges of $2.6 million, lease accruals of $4.7 million, and the write-off of leasehold improvements of $2.0 million. Of the associate-related accruals of $2.6 million, $0.2 million remained accrued as of March 31, 2020. These amounts are expected to be paid out in fiscal 2021. With respect to fiscal 2015, 2017, 2018, 2019, and 2020 lease accruals and adjustments described above, the Company intends to continue subleasing the facilities to the extent possible. The liabilities will be satisfied over the remainder of the leased properties' terms, which continue through November 2025. Of the total amount accrued, $6.2 million remained accrued as of March 31, 2020. 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, net The following table summarizes the activity included in gains, losses and other items, net in the consolidated statements of operations for each of the periods presented (dollars in thousands): Year ended March 31, 2020 2019 2018 Restructuring plan charges and adjustments $ 3,430 $ 7,745 $ 2,746 Early contract terminations 908 12,188 — Other 663 — (23) $ 5,001 $ 19,933 $ 2,723 |
ACQUISITIONS_
ACQUISITIONS: | 12 Months Ended |
Mar. 31, 2020 | |
Business Combinations [Abstract] | |
ACQUISITIONS: | ACQUISITIONS: Data Plus Math On July 2, 2019, the Company closed its merger with Data Plus Math Corporation ("DPM"), a media measurement company that works with brands, agencies, cable operators, streaming TV services and networks to tie cross-screen ad exposure with real-world outcomes. The Company has included the financial results of DPM in the condensed consolidated financial statements from the acquisition date. The acquisition date fair value of the consideration for DPM was approximately $118.0 million, which consisted of the following (dollars in thousands): Cash, net of $0.4 million cash acquired $ 100,886 Restricted cash held in escrow 14,815 Fair value of replacement stock options considered a component of purchase price 2,300 Total fair value of consideration transferred $ 118,001 On the acquisition date, the Company delivered $14.8 million of cash to an escrow agent according to the terms of the purchase agreement. The principal escrow amount is owned by the Company until funds are delivered to the DPM sellers one year from the acquisition date. All interest and earnings on the principal escrow amount remain the property of the Company. The total fair value of the replacement stock options issued was $7.4 million of which $2.3 million was allocated to the purchase consideration and $5.1 million was allocated to future services and will be expensed over the future requisite service periods (see Note 13). In connection with the DPM acquisition, the Company agreed to pay $24.7 million to certain key employees (see "Consideration Holdback" in Note 13). The consideration holdback is payable in 3 equal, annual increments, based on the anniversary dates of the acquisition, and is payable in shares of Company common stock. The number of shares to be issued annually will vary depending on the market price of the shares on the date of issuance. The consideration holdback is not part of the purchase price, as vesting is dependent on continued employment of the key employees. It will be recorded as non-cash stock-based compensation expense over the three The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): July 2, 2019 Assets acquired: Cash $ 438 Trade accounts receivable 957 Goodwill 90,619 Intangible assets 34,000 Other current and noncurrent assets 1,186 Total assets acquired 127,200 Deferred income taxes (6,034) Accounts payable and accrued expenses (2,727) Net assets acquired 118,439 Less: Cash acquired (438) Net purchase price allocated 118,001 Less: Restricted cash held in escrow (14,815) Fair value of replacement stock options considered a component of purchase price (2,300) Net cash paid in acquisition $ 100,886 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to expectations to development of future technology and products, development of future customer relationships, and the DPM's assembled workforce. The goodwill balance is not deductible for U.S. income tax purposes. The amounts allocated to intangible assets in the table above included developed technology, data supply relationships, customer relationships, and trademarks. Intangible assets are being amortized on a straight-line basis over the estimated useful lives. The following table presents the components of intangible assets acquired and their estimated useful lives as of the acquisition date (dollars in thousands): Useful life Fair value (in years) Developed technology $ 11,000 4 Data supply relationships 16,000 4 Customer relationships 6,000 4 Trademarks 1,000 2 Total intangible assets $ 34,000 The Company has omitted disclosures of revenue and net loss of the acquired company from the acquisition date as the amounts are not material. The unaudited pro forma financial information in the table below summarizes the combined results of operations for LiveRamp and DPM for the purposes of unaudited pro forma financial information disclosure as if the companies were combined as of the beginning of fiscal 2019. The unaudited pro forma financial information for all periods presented included the business combination accounting effects resulting from these acquisitions, including amortization charges from acquired intangible assets, stock-based compensation charges for unvested restricted stock-based awards and stock options assumed, if any, and the related tax effects as though the aforementioned companies were combined as of the beginning of fiscal 2019. The pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal 2019. The unaudited pro forma financial information for the years ended March 31, 2020 and 2019, respectively, combined the historical results of LiveRamp for the years ended March 31, 2020 and 2019 and the historical results of DPM for the years ended December 31, 2019 and 2018 (adjusted due to differences in reporting periods) and the effects of the pro forma adjustments listed above. The unaudited pro forma financial information was as follows (dollars in thousands, except per share data): Year ended March 31, 2020 2019 Revenues $ 381,501 $ 287,467 Net earnings (loss) $ (129,211) $ 1,010,241 Basic earnings (loss) per share $ (1.91) $ 13.47 Diluted earnings (loss) per share $ (1.91) $ 13.47 Faktor On April 2, 2019, the Company acquired all of the outstanding shares of Faktor B. V. ("Faktor"). Faktor is a global consent management platform that allows consumers to control how their data is collected, used, and transferred for usage to another party. Faktor's platform provides individuals with notice and choice on websites and mobile apps and allows them to opt-in or opt-out via a visible banner on the page. The Company paid approximately $4.5 million in cash for the acquired shares. The Company has omitted pro forma disclosures related to this acquisition as the pro forma effect of this acquisition is not material. The results of operations for the acquisition are included in the Company's condensed consolidated results beginning April 2, 2019. The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): April 2, 2019 Assets acquired: Cash $ 35 Trade accounts receivable 63 Goodwill 3,110 Intangible assets 1,700 Other current and noncurrent assets 126 Total assets acquired 5,034 Deferred income taxes (194) Accounts payable and accrued expenses (326) Net assets acquired 4,514 Less: Cash acquired (35) Net cash paid $ 4,479 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to development of future technology and products, development of future customer relationships, and the Faktor assembled workforce. Pacific Data Partners On February 14, 2018, the Company acquired all the outstanding units of Pacific Data Partners LLC ("PDP") in order to accelerate its ability to power people-based B2B marketing. The Company paid approximately $4.5 million in cash, net of $0.5 million funds held in escrow and $0.2 million cash acquired. The escrow funds were delivered to the PDP sellers 18 months from the acquisition date, during fiscal 2020. The Company omitted pro forma disclosures related to this acquisition as the pro forma effect of this acquisition is not material. The results of operations of this acquisition are included in the Company's consolidated results beginning February 14, 2018. The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): February 14, 2018 Assets acquired: Cash $ 228 Trade accounts receivable 224 Intangible assets 2,200 Goodwill 3,260 Total assets acquired 5,912 Accounts payable and accrued expenses (706) Net assets acquired 5,206 Less: Funds held in escrow (500) Cash acquired (228) Net cash paid $ 4,478 In connection with the PDP acquisition, the Company assumed the outstanding performance compensation plan under the 2018 Equity Compensation Plan of Pacific Data Partners, LLC ("PDP PSU plan"). Under the PDP PSU plan, performance compensation will be paid to plan participants in four annual increments based on attainment of certain Connectivity B2B run rate revenue targets for the performance period covering April 1, 2018 to March 31, 2022. Each annual payout will be determined at the close of each fiscal year within the performance period, on a cumulative basis. The amount of each annual payout will be settled in shares of Company common stock. The number of shares of Company common stock issued to participants will be equal to 90% of the annual payout divided by the volume weighted average stock price for the 20 trading days prior to, and ending on, the end of each annual performance period, plus, 10% of the annual payout divided by the volume weighted average stock price for the 20 trading days prior to, and ending on, the date of the closing of the acquisition. Total performance attainment may result in combined payouts ranging from zero to $65.0 million. The performance compensation paid under the PDP PSU plan is being recorded as non-cash stock-based compensation as it is attributable to post-combination service (see Note 13 - Stockholders' Equity). The non-cash stock-based compensation expense is being recognized over the requisite service and performance period based on expected attainment. 90% of the performance compensation is settleable in a number of shares calculated using a variable 20-day stock price factor, determined in future periods, and is classified as a liability-based equity award. As of each reporting date, 90% of any recognized, but unpaid portions of the performance compensation plan are recorded in other accrued expenses in the consolidated balance sheets. The remaining 10% of the performance compensation is classified as an equity-classified equity award. During the fourth quarter of fiscal 2020, the Company converted the outstanding PDP PSU plan to a time-vesting restricted stock plan ("PDP RSU plan") at a 100.0% performance conversion rate. The PDP RSUs will vest over three annual increments beginning on March 31, 2020. As a result of the award modification, the Company will recognize $0.6 million of incremental compensation costs related to the equity-classified portion of the award in the consolidated statement of operations. |
DISCONTINUED OPERATIONS_
DISCONTINUED OPERATIONS: | 12 Months Ended |
Mar. 31, 2020 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISCONTINUED OPERATIONS: | DISCONTINUED OPERATIONS: Acxiom Marketing Solutions ("AMS") business During fiscal 2019, the Company completed the sale of its AMS business to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash. The business qualified for treatment as discontinued operations during fiscal 2019. At the closing of the transaction, the Company received total consideration of $2.3 billion ($2.3 billion stated sales price less closing adjustments, transaction costs and other items of $49.0 million). Additionally, the Company applied $230.5 million of proceeds from the sale to repay outstanding Company debt and related interest. The Company reported a gain of $1.7 billion on the sale, which was included in earnings from discontinued operations, net of tax. Summary results of operations of AMS for the fiscal years ended March 31, 2020, 2019 and 2018 are segregated and included in earnings from discontinued operations, net of tax, in the consolidated statements of operations. The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands): Year ended March 31, 2020 2019 2018 Revenues $ — $ 332,185 $ 697,305 Cost of revenue — 213,512 370,040 Gross profit — 118,673 327,265 Operating expenses: Research and development — 21,621 34,160 Sales and marketing — 60,743 106,960 General and administrative — 71,500 38,372 Gains, losses and other items, net (957) (1,673,636) 3,650 Total operating expenses (957) (1,519,772) 183,142 Income from discontinued operations 957 1,638,445 144,123 Interest expense — (5,702) (10,131) Other, net — 97 (261) Earnings from discontinued operations before income taxes 957 1,632,840 133,731 Income taxes 207 470,346 42,952 Earnings from discontinued operations, net of tax $ 750 $ 1,162,494 $ 90,779 Substantially all interest expense was allocated to discontinued operations. The Company entered into certain agreements with AMS in which services will be provided from the Company to AMS, and from AMS to the Company. The terms of these agreements are primarily 60 months from the date of sale. Cash inflows and outflows related to the agreements are included in cash flows from operating activities in the consolidated statements of cash flows. Revenues and expenses related to the agreements are included in loss from operations in the consolidated statements of operations. The related cash inflows and outflows and revenues and costs for the periods reported are shown below (dollars in thousands): For the twelve months ended For the six months ended March 31, 2020 March 31, 2019 Cash inflows $ 49,543 $ 20,173 Cash outflows $ 10,280 $ 3,609 Revenues $ 47,864 $ 23,810 Costs $ 6,486 $ 6,985 |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS: | 12 Months Ended |
Mar. 31, 2020 | |
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): March 31, 2020 March 31, 2019 Prepaid expenses and other $ 12,737 $ 9,058 Receivable for cash settlement of withheld income tax withholdings on equity award releases 7,658 — Post-closing receivable from IPG — 17,625 Interest receivable 648 2,497 Assets of non-qualified retirement plan 11,623 14,970 Other current assets $ 32,666 $ 44,150 Other noncurrent assets consist of the following (dollars in thousands): March 31, 2020 March 31, 2019 Internally developed software 889 2,486 Right-of-use asset (see Note 2) 17,830 — Deferred tax asset 852 35 Deposits 2,562 2,463 Other miscellaneous noncurrent assets 5,032 5,819 Other assets, net $ 27,165 $ 10,803 |
OTHER ACCRUED EXPENSES_
OTHER ACCRUED EXPENSES: | 12 Months Ended |
Mar. 31, 2020 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): March 31, 2020 March 31, 2019 Liabilities of non-qualified retirement plan $ 11,623 $ 14,970 Short-term lease liabilities (See Note 2) 9,641 — PDP performance plan liability (see Note 13) 16,318 — DPM consideration holdback (see Note 13) 6,185 — Other miscellaneous accrued expenses 25,224 25,946 Other accrued expenses $ 68,991 $ 40,916 |
GOODWILL_
GOODWILL: | 12 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill Disclosure | GOODWILL: Goodwill for the years ended March 31, 2020 and 2019 was as follows (dollars in thousands): Total Balance at March 31, 2018 $ 203,639 Reallocation from AMS 1,377 Change in foreign currency translation adjustment (360) Balance at March 31, 2019 $ 204,656 Acquisition of Faktor 3,110 Acquisition of DPM 90,619 Change in foreign currency translation adjustment (589) Balance at March 31, 2020 $ 297,796 Goodwill by geography as of March 31, 2020 was: Total U.S. $ 295,181 APAC 2,615 Balance at March 31, 2020 $ 297,796 |
INTANGIBLE ASSETS_
INTANGIBLE ASSETS: | 12 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS: | INTANGIBLE ASSETS: The amounts allocated to intangible assets from acquisitions include developed technology, customer relationships, trade names, and publisher relationships. The following table shows the amortization activity of intangible assets (dollars in thousands): March 31, 2020 March 31, 2019 Developed technology, gross $ 66,451 $ 54,000 Accumulated amortization (54,713) (49,625) Net developed technology $ 11,738 $ 4,375 Customer relationship/Trade name, gross $ 42,993 $ 35,800 Accumulated amortization (33,109) (26,128) Net customer/trade name $ 9,884 $ 9,672 Publisher/Data supply relationships, gross $ 39,800 $ 23,800 Accumulated amortization (16,222) (9,255) Net publisher relationship $ 23,578 $ 14,545 Total intangible assets, gross $ 149,244 $ 113,600 Total accumulated amortization (104,044) (85,008) Total intangible assets, net $ 45,200 $ 28,592 Total amortization expense related to intangible assets was $19.0 million, $15.9 million, and $23.9 million for the fiscal years ended March 31, 2020, 2019 and 2018, respectively. The following table presents the estimated future amortization expenses related to purchased intangible assets (dollars in thousands): Fiscal Year: 2021 $ 17,363 2022 14,092 2023 11,683 2024 2,062 $ 45,200 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended |
Mar. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT: | PROPERTY AND EQUIPMENT: Property and equipment is summarized as follows (dollars in thousands): March 31, 2020 March 31, 2019 Leasehold improvements $ 25,614 $ 20,097 Data processing equipment 9,499 37,678 Office furniture and other equipment 9,673 7,077 44,786 64,852 Less accumulated depreciation and amortization 25,465 38,809 $ 19,321 $ 26,043 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: | 12 Months Ended |
Mar. 31, 2020 | |
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 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 consolidated financial statements. Commitments As of March 31, 2020, the Company has various non-cancellable operating lease commitments for office space that, as a result of the adoption of ASC 842, have been recorded as lease liabilities. Refer to Note 2 - Leases for additional information regarding lease commitments. The following table presents the Company’s purchase commitments at March 31, 2020. Purchase commitments primarily include contractual commitments for the purchase of data, and other commitments primarily include contractual commitments related to hosting services and software as a service providers. The table does not include the future payment of liabilities related to uncertain tax positions of $25.0 million as the Company is not able to predict the periods in which the payments will be made (dollars in thousands): For the years ending March 31, 2021 2022 2023 2024 2025 Total Purchase commitments $ 11,298 $ 5,293 $ 3,392 $ 96 $ 48 $ 20,127 Other commitments 22,316 25,754 27,867 7,519 — 83,456 Total purchase and other commitments $ 33,614 $ 31,047 $ 31,259 $ 7,615 $ 48 $ 103,583 |
STOCKHOLDERS' EQUITY_
STOCKHOLDERS' EQUITY: | 12 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY: | STOCKHOLDERS' EQUITY: The Company has authorized 200 million shares of $0.10 par value common stock and 1 million shares of $1.00 par value preferred stock. The board of directors of the Company may designate the relative rights and preferences of the preferred stock when and if issued. Such rights and preferences could include liquidation preferences, redemption rights, voting rights and dividends, and the shares could be issued in multiple series with different rights and preferences. The Company currently has no plans for the issuance of any shares of preferred stock. On August 29, 2011, the board of directors adopted a common stock repurchase program. That program was subsequently modified and expanded, most recently on October 25, 2018. On that date, the board of directors authorized a $500 million increase to the existing common stock repurchase program. Under the modified common stock repurchase program, the Company may purchase up to $1.0 billion of its common stock through the period ending December 31, 2020. During the fiscal year ended March 31, 2020, the Company repurchased 4.4 million shares of its common stock for $182.2 million under the stock repurchase program. During the fiscal year ended March 31, 2019, the Company repurchased 2.4 million shares of its common stock for $74.4 million under the stock repurchase program. During the fiscal year ended March 31, 2018, the Company repurchased 3.3 million shares of its common stock for $88.9 million. Through March 31, 2020, the Company has repurchased 26.9 million shares of its stock for $631.2 million, leaving remaining capacity of $368.8 million under the stock repurchase program. On October 25, 2018, the board of directors authorized a Dutch auction tender offer to purchase shares of its outstanding common stock at an initial aggregate purchase price not to exceed $500 million, plus up to 2% of the Company's outstanding shares of common stock in accordance with the rules and regulations of the SEC. On December 13, 2018, the Company accepted for purchase 11.2 million shares of its common stock at a price of $44.50 per share, for an aggregate cost of $503.4 million, including fees and expenses. These shares represented approximately 14.2% of the shares outstanding. The Company paid no dividends on its common stock for any of the years reported. Stock-based Compensation Plans The Company has stock option and equity compensation plans for which a total of 42.3 million shares of the Company’s common stock have been reserved for issuance since the inception of the plans. At March 31, 2020, there were a total of 9.3 million shares available for future grants under the plans. During the fiscal year ended March 31, 2019, the Board voted to amend the Amended and Restated 2005 Equity Compensation Plan to increase the number of shares available under the plan from 32.9 million shares at March 31, 2018 to 37.9 million shares at March 31, 2019, bringing the total number of shares reserved for issuance since inception of all plans from 34.5 million shares at March 31, 2018 to 42.3 million shares beginning in the quarter ended September 30, 2018. The amendment received shareholder approval at the September 20, 2018 annual shareholders' meeting. Stock-based Compensation Expense The Company's stock-based compensation activity for the twelve months ended March 31, 2020, by award type, was (dollars in millions): Year ended March 31, 2020 2019 2018 Stock options $ 3.7 $ 3.3 $ 5.0 Restricted stock units 55.5 67.0 29.1 Arbor acquisition consideration holdback 2.6 15.3 15.3 DPM acquisition consideration holdback 6.2 — — PDP assumed performance plan 20.3 15.8 2.0 Other non-employee stock-based compensation 1.1 1.3 1.0 Total non-cash stock-based compensation included in the consolidated statements of operations 89.4 102.7 52.9 Less expense related to liability-based equity awards (24.2) (14.2) (1.7) Stock-based compensation of discontinued operations — 62.8 10.3 Total non-cash stock-based compensation included in the consolidated statements of equity $ 65.2 $ 151.3 $ 61.5 The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in millions): Year ended March 31, 2020 2019 2018 Cost of revenue $ 3.8 $ 4.7 $ 2.7 Research and development 23.3 28.2 15.6 Sales and marketing 38.0 44.0 23.4 General and administrative 24.4 25.8 11.2 Total non-cash stock-based compensation included in the consolidated statements of operations $ 89.4 $ 102.7 $ 52.9 In March 2019, the Company accelerated the vesting of certain time-vesting restricted stock units that would have otherwise vested over the next six months to take advantage of significant cash tax savings opportunities. This resulted in the release of restricted stock units covering approximately 0.5 million shares of common stock. The Company recognized $19.8 million of compensation costs related to the accelerated vesting and release of these units, which is included in loss from operations in the consolidated statement of operations. Of the $19.8 million compensation costs, $14.3 million represented incremental compensation cost and $5.5 million represented accelerated original grant date fair value compensation cost. The following table provides the expected future expense for all of the Company's outstanding equity awards at March 31, 2020, by award type (dollars in millions). For the years ending 2021 2022 2023 2024 Total Stock options $ 2.3 $ 1.1 $ 0.4 $ — $ 3.8 Restricted stock units 51.7 39.3 25.3 6.2 122.5 DPM acquisition consideration holdback 8.3 8.2 2.1 — 18.6 PDP assumed performance plan 18.1 9.1 — — 27.2 $ 80.4 $ 57.7 $ 27.8 $ 6.2 $ 172.1 Stock Option Activity of Continuing Operations In fiscal 2020, in connection with the acquisition of DPM, the Company replaced all outstanding stock options held by DPM associates immediately prior to the acquisition with options to acquire shares of LiveRamp common stock having substantially the same terms and conditions as were applicable under the original options. In total, the Company issued 162,481 replacement options at a weighted-average exercise price of $1.64 per share. The acquisition-date fair value of the replacement stock options was $7.4 million and was determined using a binomial lattice model with the following assumptions: dividend yield of 0.0% since LiveRamp is currently not paying dividends and there are no plans to pay dividends; risk-free interest rates from 1.86% to 1.96%, based on the rate of U.S. Treasury securities with a term equal to the remaining term of each option; remaining terms of each option from 7.33 years to 9.55 years; expected volatility of 45.00% considering the implied volatility of publicly traded LiveRamp options and historical volatility of LiveRamp stock. Of the total replacement options issued, 48,619 were fully vested and required no post-combination employee service. The remaining replacement options had components of both pre-combination and post-combination service requirements. As a result, $2.3 million of the acquisition-date fair value of the replacement options was calculated and identified as consideration transferred in the DPM acquisition. The remaining $5.1 million acquisition-date fair value is considered future compensation costs and will be recognized as stock-based compensation cost over the remaining service period. Stock option activity for the twelve months ended March 31, 2020 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, 2019 1,374,430 $ 14.81 DPM replacement stock options issued 162,481 $ 1.64 Exercised (177,459) $ 6.13 $ 6,666 Forfeited or canceled (8,794) $ 4.82 Outstanding at March 31, 2020 1,350,658 $ 14.43 3.6 $ 24,972 Exercisable at March 31, 2020 1,262,493 $ 15.32 3.3 $ 22,226 The aggregate intrinsic value for options exercised in fiscal 2020, 2019, and 2018 was $6.7 million, $35.3 million, and $6.5 million, respectively. The aggregate intrinsic value at period end represents the total pre-tax intrinsic value (the difference between LiveRamp’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 they exercised their options on March 31, 2020. This amount changes based upon changes in the fair market value of LiveRamp’s common stock. A summary of stock options outstanding and exercisable as of March 31, 2020 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 — $ 9.99 233,296 5.4 years $ 1.60 145,131 $ 1.51 $ 10.00 — $ 19.99 709,672 2.6 years $ 14.69 709,672 $ 14.69 $ 20.00 — $ 24.99 407,690 4.3 years $ 21.31 407,690 $ 21.31 1,350,658 3.6 years $ 14.43 1,262,493 $ 15.32 Performance Stock Option Unit Activity of Continuing Operations Performance stock option unit activity for the twelve months ended March 31, 2020 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, 2019 130,154 $ 21.44 Forfeited or canceled (130,154) $ 21.44 Outstanding at March 31, 2020 — $ — $ — Exercisable at March 31, 2020 — $ — — $ — The performance stock option units outstanding at March 31, 2019 reached maturity of the relevant performance period at March 31, 2019. The units attained a 0% attainment level, resulting in cancellation of the units in the current fiscal year. Fiscal 2019 Restricted Stock Unit Activity Related to Disposition of AMS Performance-based Restricted Stock Unit Conversions In conjunction with the disposition of AMS, the Company converted its outstanding TSR-based performance restricted stock units ("PSUs") to time-vesting restricted stock units ("RSUs"). On the conversion date, the performance period was truncated and attainment measured, resulting in conversion of the PSUs to RSUs at a 200% conversion rate. Each converted RSU held by an AMS associate was vested immediately. The remaining converted RSUs will cliff vest on the same date as the original PSU performance period maturity date. Share activity related to these conversions was: Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations TSR-based performance restricted stock units converted to time-based restricted stock units, by fiscal year granted: Original Performance Maturity Date: Fiscal 2017 PSU 3/31/2019 (168,378) (46,218) (214,596) Fiscal 2018 PSU 3/31/2020 (148,963) (36,815) (185,778) Fiscal 2019 PSU 3/31/2021 (186,539) (30,188) (216,727) Totals (503,880) (113,221) (617,101) Time-based restricted stock units converted from TSR-based performance restricted stock units RSU Cliff Vest Date (Continuing Ops Only): Fiscal 2017 PSU 3/31/2019 336,756 92,436 429,192 Fiscal 2018 PSU 3/31/2020 297,926 73,630 371,556 Fiscal 2019 PSU 3/31/2021 373,078 60,376 433,454 Totals 1,007,760 226,442 1,234,202 The Company recognized both incremental and accelerated compensation costs in the consolidated statement of operations related to the PSU conversions. The impact on compensation costs was (dollars in thousands): Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations Incremental compensation costs $ 7,179 $ 1,599 $ 8,778 Accelerated compensation costs of original grant date fair value related to immediate vesting of converted PSUs of AMS associates $ — $ 1,607 $ 1,607 AMS Restricted Stock Unit Accelerations In conjunction with the disposition of AMS, the Company accelerated the vesting of substantially all outstanding time-vesting restricted stock units of AMS associates to the date of disposition, including converted PSU shares, resulting in the release of restricted stock units covering 1,187,344 shares of common stock. The Company recognized $54.0 million of compensation costs related to the accelerated vesting and release of these units, which is included in net earnings from discontinued operations, net of tax in the consolidated statement of operations. Of the $54.0 million compensation costs, $27.0 million represented incremental compensation cost and $27.0 million represented accelerated original grant date fair value compensation cost. Restricted Stock Unit Activity of Continuing Operations Time-vesting restricted stock units - During the twelve months ended March 31, 2020, the Company granted time-vesting restricted stock units covering 1,697,506 shares of common stock and having a fair value at the date of grant of $85.6 million. All of the restricted stock units granted in the current period vest over four years. Grant date fair value of these units is equal to the quoted market price for the shares on the date of grant. Included in the restricted stock units granted in the current fiscal year were units related to the DPM acquisition. Following the closing of the DPM acquisition, the Company granted new awards of restricted stock units covering 155,346 shares of common stock to select employees to induce them to accept employment with the Company (the "DPM inducement awards"). The DPM inducement awards had a grant date fair value of $7.3 million. During fiscal 2019, the Company granted time-vesting restricted stock units covering 1,939,746 shares of common stock with a fair value at the date of grant of $69.5 million. Of the restricted stock units granted in the current period, 1,856,444 vest over four years and 83,302 vest over one year. During fiscal 2018, the Company granted time-vesting restricted stock units covering 1,386,448 shares of common stock with a fair value at the date of grant of $36.2 million. Of the restricted stock units granted in fiscal 2018, 1,089,379 vest over four years, 106,571 vest over three years, 174,368 vest over two years, and 16,130 vest over one year. Time-vesting restricted stock unit activity for the twelve months ended March 31, 2020 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 3,054,750 $ 30.91 2.47 Granted 1,697,506 $ 50.44 Vested (963,532) $ 27.73 Forfeited or canceled (437,086) $ 38.82 Outstanding at March 31, 2020 3,351,638 $ 40.68 2.51 The total fair value of time-vesting restricted stock units vested for the twelve months ended March 31, 2020, 2019 and 2018 was $59.8 million, $93.1 million, and $24.1 million, respectively and is measured as the quoted market price of the Company's common stock on the vesting date for the number of shares vested. Performance-based restricted stock units - During the twelve months ended March 31, 2020, the Company granted performance-based restricted stock units covering 202,818 shares of common stock having a fair value at the date of grant of $12.3 million. The grants were made under two separate performance plans. Under the first performance plan, units covering 60,844 shares of common stock were granted having a fair value at the date of grant of $4.4 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 60,844 units may vest in a number of shares from 0% to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to total shareholder return of the Russell 2000 market index for the period from April 1, 2019 to March 31, 2022. Under the second performance plan, units covering 141,974 shares of common stock were granted having a fair value at the date of grant of $7.9 million equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee of the board of directors. 82,494 units may vest in a number of shares from 0% to 200% of the award, based on attainment of the Company's three-year revenue compound annual growth rate target for the period from April 1, 2019 to March 31, 2022. The remaining 59,480 units will vest in three three During fiscal 2019, the Company granted performance-based restricted stock units, in two separate plans, covering 534,438 shares of common stock having a fair value at the date of grant of $22.0 million. Under the first performance plan, units covering 186,539 shares of common stock were granted having a fair value at the date of grant of $5.8 million, determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee and continuous employment through the vesting date. The 186,539 units may vest in a number of shares from 25% to 200% of the award, based on the total shareholder return of LiveRamp 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. All of these awards were converted to RSUs at the time of the AMS disposition. Under the second performance plan, units covering 347,899 shares of common stock were granted having a fair value at the date of grant of $16.2 million equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee for the period October 1, 2018 to September 30, 2022. The units may vest in a number of shares from zero to 200% of the award, based on the attainment of revenue growth and margin targets. Vesting will be evaluated and performance measured on a quarterly basis beginning with the period ending June 30, 2020. During fiscal 2018, the Company granted performance-based restricted stock units covering 389,065 shares of common stock having a fair value at the date of grant of $10.1 million. Of the performance-based restricted stock units granted in fiscal 2018, 184,931 units - having a fair value at the date of grant of $5.1 million, determined using a Monte Carlo simulation model - vest subject to attainment of performance criteria established by the compensation committee and continuous employment through the vesting date. The 184,931 units may vest in a number of shares from zero to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to TSR established by the compensation committee for the period from April 1, 2017 to March 31, 2020. All of these awards were converted to RSUs at the time of the AMS disposition. Of the performance-based restricted stock units granted in fiscal 2018, 87,184 units - having a fair value at the date of grant of $2.1 million, based on the quoted market price for the shares on the date of grant - vest over two years, each being subject to attainment of performance criteria established by the compensation committee and continuous employment through the vesting date. These units vested at 50.2% attainment in fiscal 2019 resulting in release of 43,768 shares of stock and cancellation of remaining units. The remaining 116,950 performance-based restricted stock units granted in fiscal 2018 - having a fair value at the date of grant of $2.9 million, based on the quoted market price for the shares on the date of grant - vest in three equal tranches, each being subject to attainment of performance criteria established by the compensation committee and continuous employment through the vesting date. Each of the three tranches may vest in a number of shares, from zero to 300% of the initial award, based on the attainment of certain revenue growth and operating margin targets for the years ending March 31, 2018, 2019, and 2020, respectively. The first tranche vested at 53.3% attainment in fiscal 2019 resulting in release of 17,562 shares of stock. The second tranche vested at 0% attainment in fiscal 2020 resulting in cancellation of the tranche two units. The 18,275 units outstanding at March 31, 2020, reached maturity of the relevant performance period at March 31, 2020. Those units are expected to vest at an approximate 0% attainment level, resulting in cancellation of the units. Non-vested performance-based restricted stock unit activity for the twelve months ended March 31, 2020 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 394,188 $ 43.88 3.23 Granted 202,818 $ 60.65 Forfeited or canceled (51,560) $ 34.42 Outstanding at March 31, 2020 545,446 $ 51.01 2.24 During fiscal 2019, 61,330 performance-based restricted stock units vested. Of the units vested, 43,768 relate to 50.2% attainment on a fiscal 2018 plan, and 17,562 relate to 53.3% attainment on a fiscal 2018 plan. During fiscal 2018, 580,133 performance-based restricted stock units vested. The total fair value of performance-based restricted stock units vested in fiscal 2019 and 2018 was $2.2 million and $14.1 million, respectively and is measured as the quoted market price of the Company’s common stock on the vesting date for the number of shares vested. Stock-based Compensation Expense Related to Discontinued Operations Total stock-based compensation expense related to discontinued operations for fiscal 2019 and 2018 was $62.8 million and $10.3 million, respectively and is included in non-cash stock-based compensation in the consolidated statements of equity. Consideration Holdback As part of the Company's acquisition of DPM in the current fiscal year, $24.7 million of the acquisition consideration otherwise payable with respect to shares of DPM common stock held by certain key employees was subject to holdback by the Company pursuant to agreements with those employees (each, a "Holdback Agreement"). The Holdback Agreement specifies that the consideration holdback will vest in three equal annual increments on the anniversary of the closing date. Vesting is subject to the DPM key employees' continued employment through each annual vesting date and will be settled in shares of Company common stock. Through March 31, 2020, the Company has recognized a total of $6.2 million related to the DPM consideration holdback. At March 31, 2020, the recognized, but unpaid, balance related to the DPM consideration holdback in other accrued expenses in the consolidated balance sheet was $6.2 million. 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”). The Holdback Agreement specifies the payment of the consideration in monthly installments using LiveRamp shares over a thirty-month period, ending in the quarter ended June 30, 2019. As of June 30, 2019, the Company had met its full obligation for the consideration holdback due to the Arbor key employees. Through March 31, 2020, the Company had recognized a total of $38.3 million expense related to the Arbor Holdback Agreements. PDP Assumed Performance Plan In connection with the fiscal 2018 acquisition of PDP (see Note 5 - Acquisitions), the Company assumed the outstanding performance compensation plan under the PDP 2018 Equity Compensation Plan ("PDP PSU plan"). During the second quarter of fiscal 2020, the year-one performance payout under the plan was finalized resulting in a $19.7 million payout to the plan participants. On the settlement date, a total of 465,389 shares of Company common stock was delivered to the PDP PSU plan participants to settle the year-one performance payout obligation, of which 393,306 shares represented the liability-classified portion of the award. The performance compensation paid under the PDP PSU plan is being recorded as non-cash stock-based compensation as it is attributable to post-combination service. The non-cash stock-based compensation expense is being recognized over the requisite service and performance period based on expected attainment. 90% of the performance compensation is settleable in a number of shares calculated using a variable 20-day stock price factor, determined in future periods, and is classified as a liability-based equity award. As of each reporting date, 90% of any recognized, but unpaid portions of the performance compensation plan are recorded in other accrued expenses in the consolidated balance sheets. The remaining 10% of the performance compensation is classified as an equity-classified equity award. During the fourth quarter of fiscal 2020, the Company converted the outstanding PDP PSU plan to a time-vesting restricted stock plan ("PDP RSU plan") at a 100.0% performance conversion rate. The PDP RSUs will vest over three annual increments beginning on March 31, 2020. As a result of the award modification, the Company will recognize $0.6 million of incremental compensation costs related to the equity-classified portion of the award in the consolidated statement of operations. Through March 31, 2020, the Company has recognized a total of $37.8 million related to the PDP non-cash stock-based compensation plan. At March 31, 2020, the recognized, but unpaid, balance related to the PDP non-cash stock-based compensation plan in other accrued expenses in the consolidated balance sheet was $16.3 million. Qualified Employee Stock Purchase Plan In addition to the stock-based plans, the Company maintains a qualified employee stock purchase plan (“ESPP”) that permits substantially all employees to purchase shares of common stock at a discount from the market price. At March 31, 2020, there were approximately 0.5 million shares available for issuance under the ESPP. During the combined fiscal years of 2020, 2019, and 2018, 264,996 shares were purchased under the plan. The total expense to the Company, representing the discount to the market price, for fiscal 2020, 2019, and 2018 was approximately $0.5 million, $0.4 million, and $0.2 million, respectively. Accumulated Other Comprehensive Income Accumulated other comprehensive income accumulated balances of $5.7 million and $7.8 million at March 31, 2020 and March 31, 2019, respectively, reflect accumulated foreign currency translation adjustments. |
INCOME TAX_
INCOME TAX: | 12 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES: | INCOME TAX: Total income tax expense (benefit) was allocated as follows (dollars in thousands): Year ended March 31, 2020 2019 2018 Continuing operations $ (40,276) $ (45,409) $ (65,723) Discontinued operations 207 470,346 42,952 $ (40,069) $ 424,937 $ (22,771) Income tax expense (benefit) attributable to loss from continuing operations consists of (dollars in thousands): Year ended March 31, 2020 2019 2018 Current: U.S. Federal $ (33,715) $ (39,534) $ (33,626) Non-U.S. 146 323 115 State 171 (16,092) (4,414) (33,398) (55,303) (37,925) Deferred: U.S. Federal (5,103) 1,245 (26,884) Non-U.S. (1,006) 149 21 State (769) 8,500 (935) (6,878) 9,894 (27,798) Total $ (40,276) $ (45,409) $ (65,723) Loss before income tax attributable to U.S. and non-U.S. continuing operations consists of (dollars in thousands): Year ended March 31, 2020 2019 2018 U.S. $ (160,457) $ (174,867) $ (132,552) Non-U.S. (5,080) (4,489) (470) Total $ (165,537) $ (179,356) $ (133,022) Loss before income taxes, as shown above, is based on the location of the entity to which such losses are attributable. However, since such losses may be subject to taxation in more than one country, the income tax provision shown above as U.S. or non-U.S. may not correspond to the loss shown above. Below is a reconciliation of expected income tax benefit computed by applying the U.S. federal statutory rate of 21.0% for fiscal 2020 and 2019 and the blended U.S. federal statutory rate of 31.5% for fiscal 2018 to loss before income taxes to actual income tax benefit from continuing operations (dollars in thousands): Year ended March 31, 2020 2019 2018 Computed expected income tax benefit $ (34,763) $ (37,665) $ (41,967) Increase (reduction) in income taxes resulting from: State income taxes, net of federal benefit (473) (5,998) (3,329) Research and other tax credits (1,517) (3,141) (1,229) Effect of federal rate change on deferred taxes — — (24,565) Nondeductible expenses 838 426 431 Stock-based compensation 5,025 (5,350) 4,452 Non-U.S. subsidiaries taxed at other than 35% 230 1,343 332 Adjustment to valuation allowances (2,245) 5,204 — Net operating loss carryback taxed at other rates (7,360) — — Other, net (11) (228) 152 $ (40,276) $ (45,409) $ (65,723) On March 27, 2020, the U.S. enacted The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act included several significant changes and clarifications to existing tax law, including changes to the treatment of net operating losses (“NOLs”). Under the CARES Act, NOLs arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the tax year of the loss. As such, the Company plans to carry back its fiscal 2020 NOL, resulting in an expected refund of approximately $32 million. 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 included significant changes to existing tax law, including a permanent reduction to the U.S. federal corporate income tax rate from 35% to 21%, a one-time repatriation tax on deferred foreign income, and numerous other changes to business-related deductions. Because the effective date of the permanent tax rate reduction did not fall on the first day of our fiscal year ended March 31, 2018, we were required to apply a blended tax rate for the entire fiscal year based on a weighted daily average rate. Accordingly, our U.S. federal statutory corporate income tax rate was 21.0% for the fiscal years ended March 31, 2020 and 2019 and 31.5% for the fiscal year ended March 31, 2018. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at March 31, 2020 and 2019 are presented below (dollars in thousands). 2020 2019 Deferred tax assets: Accrued expenses $ 3,978 $ 3,347 Deferred revenue 16 19 Lease liabilities 4,939 — Net operating loss carryforwards 33,516 29,032 Stock-based compensation 8,076 10,770 Nonqualified deferred compensation 2,815 3,147 Other 4,018 3,102 Total deferred tax assets 57,358 49,417 Less valuation allowance (32,971) (34,356) Net deferred tax assets 24,387 15,061 Deferred tax liabilities: Prepaid expenses (2,239) (1,222) Capitalized software costs (244) (636) Property and equipment (1,498) (440) Right-of-use assets (4,147) — Intangible assets (9,605) (5,631) Deferred commissions (3,817) (2,586) Accrued expenses (2,189) (4,550) Total deferred tax liabilities (23,739) (15,065) Net deferred tax assets (liabilities) $ 648 $ (4) Certain balances in the above table as of March 31, 2019 have been restated to conform with current year presentation. At March 31, 2020, the Company has net operating loss carryforwards of approximately $21.7 million and $70.0 million for U.S. federal and state income tax purposes, respectively. Of the net operating loss carryforwards, $11.5 million and $9.5 million will not expire for federal and state purposes, respectively. The remaining carryforwards will expire in various amounts and will completely expire if not used by 2040. The Company has foreign net operating loss carryforwards of approximately $99.9 million. Of this amount, $93.3 million do not have expiration dates. The remainder expires in various amounts and will completely expire if not used by 2025. The Company has state credit carryforwards of $2.1 million that will not expire. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Realization of the Company’s net deferred tax assets is dependent upon its generation of sufficient taxable income of the proper character in future years in appropriate tax jurisdictions to obtain benefit from the reversal of temporary differences and net operating loss carryforwards. Based upon the weight of available evidence, including the Company’s history of losses from continuing operations, management believes that it is not more likely than not the Company will realize the benefits of the deductible temporary differences and net operating loss carryforwards. Accordingly, the Company has established valuation allowances against its deferred tax assets. Based upon the Company's history of losses in certain non-U.S. jurisdictions, the Company has not recorded a benefit for current foreign losses in these jurisdictions. In addition, management believes it is not more than likely than not the Company will realize the benefits of certain foreign loss carryforwards and has established valuation allowances in the amount of $26.6 million against deferred tax assets in such jurisdictions. No valuation allowance has been established against deferred tax assets in non-U.S. jurisdictions in which historical profits and forecasted continuing profits exist. The following table sets forth changes in the total gross unrecognized tax benefits for the fiscal years ended March 31, 2020, 2019 and 2018 (dollars in thousands): Year ended March 31, 2020 2019 2018 Balance at beginning of period $ 19,600 $ 15,415 $ 12,870 Increases related to prior year tax positions 2,458 325 1,134 Decreases related to prior year tax positions (1,048) (292) (208) Increases related to current year tax positions 2,433 5,483 3,172 Lapse of statute of limitations (43) (1,331) (1,553) Balance at end of period $ 23,400 $ 19,600 $ 15,415 Gross unrecognized tax benefits as of March 31, 2020 was $23.4 million, which would reduce the Company’s effective tax rate in future periods if and when realized. The Company reports accrued interest and penalties related to unrecognized tax benefits in income tax expense. The combined amount of accrued interest and penalties related to tax positions on tax returns was approximately $2.5 million as of March 31, 2020. Accrued interest and penalties increased by $2.1 million during fiscal 2020. The Company does not anticipate a reduction of unrecognized tax benefits within the next 12 months. The Company files a consolidated U.S. federal income tax return and tax returns in various state and local jurisdictions. The Company’s subsidiaries also file tax returns in various foreign jurisdictions in which they operate. In the U.S., the statute of limitations for Internal Revenue Service examinations remains open for the Company’s federal income tax returns for fiscal years after 2015. The status of U.S. federal, state and foreign tax examinations varies by jurisdiction. The Company does not anticipate any material adjustments to its financial statements resulting from tax examinations currently in progress. |
RETIREMENT PLANS_
RETIREMENT PLANS: | 12 Months Ended |
Mar. 31, 2020 | |
Retirement Benefits [Abstract] | |
RETIREMENT PLANS: | RETIREMENT PLANS: The Company has a qualified 401(k) retirement savings plan that covers substantially all U.S. employees. The Company also offers a supplemental non-qualified deferred compensation plan (“SNQDC Plan”) for certain highly-compensated employees. Through December 31, 2018, the Company matched 50% of the first 6% of employee’s annual aggregate contributions. Effective January 1, 2019 the Company matches 100% of the first 6% of employee's annual aggregate contributions. The Company may also contribute additional amounts to the plans at the discretion of the board of directors. Company contributions for the above plans amounted to approximately $7.9 million, $2.9 million, and $1.9 million in fiscal years 2020, 2019, and 2018, respectively. Included in both other current assets and other accrued liabilities are the assets and liabilities of the SNQDC Plan in the amount of $11.6 million and $15.0 million at March 31, 2020 and 2019, respectively. |
FOREIGN OPERATIONS_
FOREIGN OPERATIONS: | 12 Months Ended |
Mar. 31, 2020 | |
Segments, Geographical Areas [Abstract] | |
Revenues from External Customers and Long Lived Assets by Geographical Areas Disclosure [Text Block] | FOREIGN OPERATIONS: The Company attributes revenue to each geographic region based on the location of the Company’s operations. The following table shows financial information by geographic area for fiscal 2020, 2019 and 2018 (dollars in thousands): Year ended March 31, Revenue 2020 2019 2018 United States $ 354,437 $ 262,135 $ 197,613 Foreign Europe 20,789 18,566 18,397 APAC 5,346 4,919 4,091 All Foreign 26,135 23,485 22,488 $ 380,572 $ 285,620 $ 220,101 Long-lived assets excluding financial instruments (dollars in thousands): March 31, 2020 2019 United States $ 393,564 $ 276,189 Foreign Europe 8,616 757 APAC 3,638 3,889 All Foreign 12,254 4,646 $ 405,818 $ 280,835 |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS: | 12 Months Ended |
Mar. 31, 2020 | |
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, and trade payables - The carrying amount approximates fair value because of the short maturity of these instruments. 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 March 31, 2020 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 11,623 $ — $ — $ 11,623 Total assets $ 11,623 $ — $ — $ 11,623 |
UNAUDITED SELECTED QUARTERLY FI
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA: | 12 Months Ended |
Mar. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | UNAUDITED SELECTED QUARTERLY FINANCIAL DATA: The following tables contain selected unaudited statement of operations information for each quarter of 2020 and 2019. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. Unaudited quarterly results are as follows: Quarter ended Quarter ended Quarter ended Quarter ended June 30, September 30, December 31, March 31, (dollars in thousands except per-share amounts) 2019 2019 2019 2020 Revenue $ 82,511 $ 90,143 $ 102,217 $ 105,701 Gross profit 46,085 48,683 64,251 68,849 Net loss from continuing operations (42,140) (40,202) (38,040) (4,879) Earnings from discontinued operations, net of tax — — — 750 Net loss (42,140) (40,202) (38,040) (4,129) Basic earnings (loss) per share: Continuing operations (0.61) (0.59) (0.56) (0.07) Discontinued operations — — — 0.01 Net loss (0.61) (0.59) (0.56) (0.06) Diluted earnings (loss) per share: Continuing operations (0.61) (0.59) (0.56) (0.07) Discontinued operations — — — 0.01 Net loss (0.61) (0.59) (0.56) (0.06) Quarter ended Quarter ended Quarter ended Quarter ended June 30, September 30, December 31, March 31, (dollars in thousands except per-share amounts) 2018 2018 2018 2019 Revenue $ 62,471 $ 64,812 $ 80,021 $ 78,316 Gross profit 38,817 40,346 45,183 40,556 Net loss from continuing operations (27,818) (41,180) (15,261) (49,688) Earnings from discontinued operations, net of tax 24,803 61,803 1,071,661 4,227 Net earnings (loss) (3,015) 20,623 1,056,400 (45,461) Basic earnings (loss) per share: Continuing operations (0.36) (0.53) (0.20) (0.73) Discontinued operations 0.32 0.80 13.85 0.06 Net earnings (loss) (0.04) 0.27 13.65 (0.67) Diluted earnings (loss) per share: Continuing operations (0.36) (0.53) (0.20) (0.73) Discontinued operations 0.32 0.80 13.85 0.06 Net earnings (loss) (0.04) 0.27 13.65 (0.67) |
ORGANIZATION AND SUMMARY OF S_2
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies) | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation - The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, after elimination of all significant intercompany accounts and transactions. We have prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification and Updates (“ASC” and "ASU") and we consider the various staff accounting bulletins and other applicable guidance issued by the United States Securities and Exchange Commission ("SEC"). Our fiscal year ends on March 31. References to fiscal 2020, for example, are to the fiscal year ended March 31, 2020. |
Use of Estimates | Use of Estimates -In preparing consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we must make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used in determining, among other items, revenue recognition criteria, allowance for doubtful accounts, the fair value of acquired assets and assumed liabilities, restructuring and impairment accruals, litigation and facilities lease loss accruals, stock-based compensation, and the recognition and measurement of current and deferred income taxes, including the measurement of uncertain tax positions. |
Operating Segments | Operating Segments - The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker. Our chief operating decision maker evaluates our financial information and resources and assesses the performance of these resources on a consolidated basis. Since we operate as one operating segment, all required financial segment information can be found in the consolidated financial statements. |
Discontinued Operations | Discontinued Operations -Discontinued operations comprise those activities that have been disposed of during the period or that have been classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. In fiscal 2019, the Company sold its Acxiom Marketing Solutions business (“AMS”) and began reporting the results of operations, cash flows and the balance sheet amounts pertaining to AMS as a component of discontinued operations in the consolidated financial statements. The amount recorded in fiscal 2020 relates to the final working capital true-up and receipt of final proceeds. |
Cash and Cash Equivalents | Cash and Cash Equivalents -The Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash equivalents consist of cash held in bank deposit accounts and short-term, highly-liquid money-market fund investments with remaining maturities of three months or less at the date of purchase. |
Revenue Recognition | Revenue Recognition - On April 1, 2019, the Company adopted ASU No. 2014-09, codified as ASC 606, Revenue from Contracts with Customers . The impact of the adoption did not have a material impact on revenue recognition from our accounting policy followed for fiscal 2018 under ASC 605 , Revenue Recognition , with the exception of the accounting for costs to obtain a contract. LiveRamp recognizes revenue from the following sources: (i) subscription revenue, which consists primarily of subscription fees from clients accessing our LiveRamp platform; and (ii) marketplace and other revenue, which primarily consists of revenue-sharing fees generated from access to data through our LiveRamp Data Marketplace, and transactional usage-based revenue from arrangements with certain publishers and addressable TV providers. Our subscription pricing is tiered based on data volume supported by our platform. We determine 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; and • Recognition of revenue when, or as, the performance obligations are satisfied. Identification of the contract A customer contract is primarily identified when the Company and a customer have executed an arrangement or arrangements that set out the terms of the relationship. Identification of the performance obligations As part of accounting for arrangements with multiple performance obligations, we must assess whether each performance obligation is distinct. A good or service that is promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and a company's promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. We have determined that our subscriptions to the platform is distinct and access to data for revenue-sharing and usage-based arrangements are distinct because, once a customer has access to the platform, the product is fully functional and does not require any additional development, modification, or customization. Determination of the transaction price The transaction price is the amount of consideration we expect to be entitled to in exchange for transferring services to a customer, excluding sales taxes that are collected on behalf of government agencies. The Company estimates any variable consideration to which it will be entitled at contract inception, and reassesses at each reporting date, when determining the transaction price. The Company does not include variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will occur when any uncertainty associated with the variable consideration is resolved. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each distinct performance obligation based on the standalone selling price ("SSP") of each service. We generally determine the SSP based on contractual selling prices when the obligation is sold on a standalone basis, as well as market conditions, competition, and pricing practices. As pricing and marketing strategies evolve, we may modify our pricing practices in the future, which could result in changes to SSP. Recognition of revenue when, or as, the performance obligations are satisfied Revenues are recognized when or as control of the promised services is transferred to customers. Subscription revenue is generally recognized ratably over the subscription period beginning on the date the services are made available to customers. Marketplace and other revenue is typically transactional in nature, tied to a revenue share or volumes purchased. We report revenue from Marketplace and other similar transactions on a net basis because our performance obligation is to facilitate a transaction between data providers and end users, for which we earn a portion of the gross fee. Consequently, the portion of the gross amount billed to end users that is remitted to data providers is not reflected as revenues. Disaggregation of Revenue The Company reports disaggregation of revenue based on primary geographical markets and major service offerings (see Note 3 - Revenue from Contracts with Customers). |
Accounts Receivable | Accounts Receivable Accounts receivable includes amounts billed to customers as well as unbilled amounts recognized in accordance with the Company’s revenue recognition policies. Unbilled amounts included in trade accounts receivable, net, which generally arise from the performance of services to customers in advance of billings, were $5.0 million at March 31, 2020 and $2.5 million at March 31, 2019. |
Deferred Revenue | Deferred Revenue Deferred revenue consists of amounts billed in excess of revenue recognized. Deferred revenues are subsequently recorded as revenue when earned in accordance with the Company’s revenue recognition policies. |
Deferred Commissions, net | Deferred Commissions, net - |
Property and Equipment | Property and Equipment -Property and equipment are stated at cost. Depreciation and amortization are calculated on the straight-line method over the estimated useful lives of the assets as follows: leasehold improvements, 5 - 7 years; data processing equipment, 2 - 5 years, and office furniture and other equipment, 3 - 7 years. |
Operating Leases | Operating Leases - On April 1, 2019, the Company adopted ASU No. 2016-02, codified as ASC 842 Leases , using the modified retrospective transition method. The Company elected the transition option provided by ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, to not restate comparative periods, but rather to initially adopt the requirements of ASC 842 on April 1, 2019. The resulting impact, as of the adoption date, was the recognition of right-of-use assets included in other assets, net of $22.9 million, short-term lease liabilities included in other accrued expenses of $8.4 million, long-term lease liabilities included in other liabilities of $17.9 million, and a decrease to deferred rent included in other liabilities of $3.4 million. There was no material impact to the consolidated statements of operations or stockholders' equity as a result of adopting the new guidance. The Company applied the new standard using the practical expedients permitted under the transition guidance where the Company: • did not reassess whether any expired or existing contracts contain a lease; • did not reassess the classification of existing leases; and • did not reassess initial direct costs for any existing leases. Right-of-use assets represent the Company's right to control the use of an identified asset for a period of time, or term, in exchange for consideration, and operating lease liabilities represent its obligation to make lease payments arising from the aforementioned right. The Company determines if an arrangement is, or contains, a lease at inception, and whether lease and non-lease components are combined or not. Operating leases with a duration of one year or less are excluded from right-of-use assets and lease liabilities and related expense is recorded as incurred. Right-of-use assets and lease liabilities are initially recorded based on the present value of lease payments over the lease term, which includes the minimum unconditional term of the lease, and may include options to extend or terminate the lease when it is reasonably certain at the commencement date that such options will be exercised. As the rate implicit for each of the Company's leases is not readily determinable, the Company uses its incremental borrowing rate at commencement date in determining the present value of lease payments. The Company uses judgement in determining its incremental borrowing rate, which includes selecting a yield curve based on a hypothetical credit rating. Right-of-use assets also include any initial direct costs and any lease payments made prior to the lease commencement date and are reduced by any lease incentives received. Right-of-use assets are included in other assets in the consolidated balance sheet. Short-term lease liabilities are included in other accrued expenses and long-term lease liabilities are included in other liabilities in the consolidated balance sheet. Right-of-use assets are amortized on a straight-line basis as operating lease cost in the consolidated statements of operations. |
Business Combinations | Business Combinations – We apply the provisions of ASC 805, Business Combinations , in accounting for acquisitions. It requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at the acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. |
Goodwill | Goodwill - Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business acquisitions accounted for using the acquisition method of accounting and is not amortized. Goodwill is measured and tested for impairment on an annual basis in the first quarter of the Company's fiscal year in accordance with ASC 350, Intangibles-Goodwill and Other , or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. We completed our annual impairment test during the first quarter of fiscal 2020. We did not recognize any goodwill impairment charges in fiscal 2020, 2019 or 2018. As a result of the organizational realignment and subsequent sale of the Acxiom Marketing Solutions business in fiscal 2019, we now operate as one operating segment and as a result, evaluate goodwill impairment based on our fair value as a whole. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker. While we have offerings in multiple market segments, our chief operating decision maker evaluates our financial information and resources and assesses the performance of these resources on a consolidated basis. |
Intangible Assets | Intangible Assets - We amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists. We continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets, including our intangible assets, may not be recoverable. When such events or changes in circumstances occur, we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows are less than the carrying amount of these assets, we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets. We did not recognize any intangible asset impairment charges in fiscal 2020, 2019 or 2018. |
Impairment of Long-lived Assets | Impairment of Long-lived Assets - Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company considers factors such as operating losses, declining outlooks, and business conditions when evaluating the necessity for an impairment analysis. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset group to the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If such assets are impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. We did not recognize any impairment charges related to long-lived assets in fiscal 2020, 2019 or 2018. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments - We apply the provisions of ASC 820, Fair Value Measurement , to our assets and liabilities that we are required to measure at fair value pursuant to other accounting standards. The additional disclosure regarding our fair value measurements is included in Note 17 - Fair Value of Financial Instruments. |
Concentration of Credit Risk and Significant Customers | Concentration of Credit Risk and Significant Customers - Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. The Company maintains deposits in federally insured financial institutions more than federally insured limits. Management, however, believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has no significant off-balance sheet risk such as foreign exchange contracts, options contracts, or other hedging arrangements. The Company’s trade accounts receivables are from a large number of customers. Accordingly, the Company’s credit risk is affected by general economic conditions. At March 31, 2020 and 2019 there were no customers that represented more than 10% of the trade accounts receivable balance. Our ten largest clients represented approximately 35% of our revenues in fiscal year 2020. One client, The Interpublic Group of Companies, accounted for 14% of our revenues in fiscal year 2020. |
Income Taxes | Income Taxes - The Company and its domestic subsidiaries file a consolidated federal income tax return. The Company’s foreign subsidiaries file separate income tax returns in the countries in which their operations are based. The Company makes estimates and judgments in determining the provision for income taxes for financial statement purposes. These estimates and judgments occur in the calculation of tax credits, benefits, and deductions, and in the calculation of certain deferred tax assets and liabilities that arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes, as well as the interest and penalties related to uncertain tax positions. Significant changes in these estimates may result in an increase or decrease to the tax provision in a subsequent period. The Company assesses the likelihood that it will be able to recover its deferred tax assets. If recovery is not likely, the Company increases the provision for taxes by recording a valuation allowance against the deferred tax assets that it estimates will not ultimately be recoverable. The calculation of tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process pursuant to ASC 740, Income Taxes . The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained on audit, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company must determine the probability of various outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors such as changes in facts or circumstances, changes in tax law, new audit activity, and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. On March 27, 2020, the U.S. enacted The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act included several significant changes and clarifications to existing tax law, including changes to the treatment of net operating losses (“NOLs”). Under the CARES Act, NOLs arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the tax year of the loss. As such, the Company plans to carry back its fiscal 2020 NOL, resulting in an expected refund of approximately $32 million. |
Foreign Currency | Foreign Currency - The reporting currency of the Company is the U.S. dollar. The functional currency of our foreign operations generally is the applicable local currency for each foreign subsidiary. The balance sheets of the Company’s foreign subsidiaries are translated at period-end rates of exchange, and the statements of operations are translated at the average exchange rate for the period. The effects of foreign currency translation adjustments are included in accumulated other comprehensive income in the consolidated statements of stockholders’ equity and comprehensive income. |
Advertising Expense | Advertising Expense - Advertising costs are expensed as incurred. Advertising expense was approximately $9.8 million, $8.2 million, and $8.3 million for the fiscal years ended March 31, 2020, 2019 and 2018, respectively. Advertising expense is included in operating expenses in the consolidated statements of operations. |
Legal Contingencies | Legal Contingencies - We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant matter and assess our potential financial exposure. We accrue a liability for an estimated loss if the potential loss from any claim or legal proceeding is considered probable, and the amount can be reasonably estimated. Note 12 - Commitments and Contingencies provides additional information regarding certain of our legal contingencies. |
Stock-Based Compensation | Stock-Based Compensation - The Company records stock-based compensation expense according to the provisions of ASC Topic 718, Compensation – Stock Compensation . ASC Topic 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the statement of operations over the service period of the award based on their fair values. Under the provisions of ASC Topic 718, the Company determines the appropriate fair value model to be used for valuing stock-based payments and the amortization method for compensation cost. The Company has stock option plans and equity compensation plans (collectively referred to as the “stock-based plans”) administered by the compensation committee of the board of directors (“compensation committee”) under which options and restricted stock units were outstanding as of March 31, 2020. The Company’s equity compensation plan provides that all associates (employees, officers, directors, affiliates, independent contractors or consultants) are eligible to receive awards (grant of any option, stock appreciation right, restricted stock award, restricted stock unit award, performance award, performance share, performance unit, qualified performance-based award, or other stock unit award) under the plan with the terms and conditions applicable to an award set forth in applicable grant documents. Incentive stock option awards granted under the stock-based plans cannot be granted with an exercise price less than 100% of the per-share market value of the Company’s shares at the date of grant and have a maximum duration of ten years from the date of grant. Board policy currently requires that non-qualified options also must be priced at or above 100% of the fair market value of the common stock at the time of grant with a maximum duration of ten years. Restricted stock units may be issued under the equity compensation plan and represent the right to receive shares in the future by way of an award agreement that includes vesting provisions. Award agreements can further provide for forfeitures triggered by certain prohibited activities, such as breach of confidentiality. All restricted stock units are expensed over the vesting period and adjusted for forfeitures as incurred. The vesting of some restricted stock units is subject to the Company’s achievement of certain performance criteria, as well as the individual remaining employed by the Company for a period of years. |
Restructuring | Restructuring – The Company records costs associated with employee terminations and other exit activity in accordance with ASC 420, Exit or Disposal Cost Obligations , depending on whether the costs relate to exit or disposal activities under the accounting standards, or whether they are other post-employment termination benefits. Under applicable accounting standards for exit or disposal costs, the Company records employee termination benefits as an operating expense when the benefit arrangement is communicated to the employee and no significant future services are required. Under the accounting standards related to post employment termination benefits the Company records employee termination benefits when the termination benefits are probable and can be estimated. The Company recognizes the present value of facility lease termination obligations, net of estimated sublease income and other exit costs, when the Company has future payments with no future economic benefit or a commitment to pay the termination costs of a prior commitment. In future periods the Company will record accretion expense to increase the liability to an amount equal to the estimated future cash payments necessary to exit the leases. This requires judgment and management estimation to determine the expected time frame for securing a subtenant, the amount of sublease income to be received and the appropriate discount rate to calculate the present value of the future cash flows. Should actual lease exit costs differ from estimates, the Company may be required to adjust the restructuring charge, which will impact net earnings in the period any adjustment is recorded. |
Recent Accounting Pronouncements Not Yet Adopted | Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes", which simplifies the accounting for income taxes, eliminates certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual periods beginning after December 15, 2020 (fiscal 2021 for the Company), including interim periods within those fiscal years . The Company does not expect the adoption of this guidance will have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract" ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement (“CCA”) that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. CCAs, such as software as a service and other hosting arrangements, are evaluated for capitalized implementation costs in a similar manner as capitalized software development costs. If a CCA includes a software license, the software license element of the arrangement is accounted for in a manner consistent with the acquisition of other software licenses. If a CCA does not include a software license, the service element of the arrangement is accounted for as a service contract. ASU 2018-15 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years. The Company does not expect the adoption of this guidance will have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework”, which eliminates, modifies and adds disclosure requirements for fair value measurements. The update is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company), including interim periods within those fiscal years. The Company does not expect the adoption of this guidance will have a material impact on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments)" ("ASU 2016-13"). ASU 2016-13 introduces new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward-looking "expected loss model" that requires entities to estimate current expected credit losses on accounts receivable and other financial instruments by using all practical and relevant information. ASU 2016-13 is effective for annual periods beginning after December 15, 2019 (fiscal 2021 for the Company) , including interim periods within those fiscal years. The Company does not expect the adoption of this guidance will have a material impact on our consolidated financial statements. 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. |
ORGANIZATION AND SUMMARY OF S_3
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Reconciliation of numerator and denominator of basic and diluted earnings (loss) per share | A reconciliation of the numerator and denominator of basic and diluted earnings (loss) per share is shown below (in thousands, except per share amounts): Year ended March 31, 2020 2019 2018 Basic earnings (loss) per share: Net loss from continuing operations $ (125,261) $ (133,947) $ (67,299) Earnings from discontinued operations, net of tax 750 1,162,494 90,779 Net earnings (loss) $ (124,511) $ 1,028,547 $ 23,480 Basic weighted-average shares outstanding 67,760 75,020 78,891 Continuing operations $ (1.85) $ (1.79) $ (0.85) Discontinued operations 0.01 15.50 1.15 Basic earnings (loss) per share $ (1.84) $ 13.71 $ 0.30 Diluted earnings (loss) per share: Basic weighted-average shares outstanding 67,760 75,020 78,891 Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method — — — Diluted weighted-average shares outstanding 67,760 75,020 78,891 Continuing operations $ (1.85) $ (1.79) $ (0.85) Discontinued operations 0.01 15.50 1.15 Diluted earnings (loss) per share $ (1.84) $ 13.71 $ 0.30 |
Schedule of anti-dilutive options, warrants and restricted stock units excluded from computation of earnings (loss) per share | The number of options, warrants, and restricted stock units that would have otherwise been dilutive are shown below (shares in thousands): Year ended March 31, 2020 2019 2018 Number of shares outstanding under options, warrants and restricted stock units plans 2,393 3,393 2,627 Additional options 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 earnings per share because the effect was anti-dilutive are shown below (in thousands, except per share amounts): Year ended March 31, 2020 2019 2018 Number of shares outstanding under options and restricted stock units plans 1,368 227 20 Range of exercise prices for options (lower) N/A N/A $ 32.85 Range of exercise prices for options (upper) N/A N/A $ 32.85 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The weighted average useful lives of our intangible assets were as follows: Weighted Average Useful Life (years) Developed technology 3.9 Customer relationships 5.3 Publisher and Data Supply relationships 5.2 |
LEASES_ (Tables)
LEASES: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Lease, Cost | Right-of-use asset and lease liability balances consist of the following at March 31, 2020 (dollars in millions): March 31, 2020 Right-of-use assets included in other assets, net $ 17.8 Short-term lease liabilities included in other accrued expenses $ 9.6 Long-term lease liabilities included in other liabilities $ 11.4 |
Lessee, Operating Lease, Liability, Maturity | Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2020 are as follows (dollars in thousands): Amount Fiscal 2021 $ 10,703 Fiscal 2022 9,076 Fiscal 2023 2,678 Fiscal 2024 767 Fiscal 2025 65 Thereafter — Total undiscounted lease commitments 23,289 Less: Interest and short-term leases 2,199 Total discounted operating lease liabilities $ 21,090 |
Lessee, Operating Lease, Supplemental Information | Supplemental information related to operating leases is as follows (dollars in thousands): Year ended March 31, 2020 Operating cash flows used for operating leases $ 9,906 Right-of-use assets obtained in exchange for new lease liabilities $ 2,707 Weighted average remaining lease term 2.4 years Weighted average discount rate 5.0 % |
Schedule of Future Minimum Rental Payments for Operating Leases | As previously disclosed in our Fiscal 2019 Annual Report on Form 10-K and under the previous lease accounting standard, the future minimum payments under all operating leases as of March 31, 2019 was as follow: For the years ending March 31, 2020 2021 2022 2023 2024 Thereafter Total Operating leases $ 12,057 $ 11,253 $ 10,865 $ 5,160 $ 3,270 $ 4,497 $ 47,102 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregation of Revenue | In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). Year ended March 31, Primary Geographical Markets 2020 2019 2018 United States $ 354,437 $ 262,135 $ 197,613 Europe 20,789 18,566 18,397 APAC 5,346 4,919 4,091 $ 380,572 $ 285,620 $ 220,101 Major Offerings/Services Subscription $ 305,679 $ 236,718 $ 172,079 Marketplace and Other 74,893 48,902 48,022 $ 380,572 $ 285,620 $ 220,101 |
RESTRUCTURING, IMPAIRMENT AND_2
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Summary of restructuring activity | The following table summarizes the Company's restructuring activity for the fiscal years ended March 31, 2020, 2019, and 2018 (dollars in thousands): Associate-related Lease Total March 31, 2017 $ 322 $ 4,308 $ 4,630 Restructuring charges and adjustments 182 2,564 2,746 Payments 38 (1,584) (1,546) March 31, 2018 542 5,288 5,830 Restructuring charges and adjustments 6,163 1,582 7,745 Payments (2,110) (1,182) (3,292) March 31, 2019 4,595 5,688 10,283 Restructuring charges and adjustments 2,291 1,139 3,430 Payments (6,436) (584) (7,020) March 31, 2020 $ 450 $ 6,243 $ 6,693 |
Schedule of gains, losses and other items | The following table summarizes the activity included in gains, losses and other items, net in the consolidated statements of operations for each of the periods presented (dollars in thousands): Year ended March 31, 2020 2019 2018 Restructuring plan charges and adjustments $ 3,430 $ 7,745 $ 2,746 Early contract terminations 908 12,188 — Other 663 — (23) $ 5,001 $ 19,933 $ 2,723 |
ACQUISITIONS_ (Tables)
ACQUISITIONS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | The acquisition date fair value of the consideration for DPM was approximately $118.0 million, which consisted of the following (dollars in thousands): Cash, net of $0.4 million cash acquired $ 100,886 Restricted cash held in escrow 14,815 Fair value of replacement stock options considered a component of purchase price 2,300 Total fair value of consideration transferred $ 118,001 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): April 2, 2019 Assets acquired: Cash $ 35 Trade accounts receivable 63 Goodwill 3,110 Intangible assets 1,700 Other current and noncurrent assets 126 Total assets acquired 5,034 Deferred income taxes (194) Accounts payable and accrued expenses (326) Net assets acquired 4,514 Less: Cash acquired (35) Net cash paid $ 4,479 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table presents the components of intangible assets acquired and their estimated useful lives as of the acquisition date (dollars in thousands): Useful life Fair value (in years) Developed technology $ 11,000 4 Data supply relationships 16,000 4 Customer relationships 6,000 4 Trademarks 1,000 2 Total intangible assets $ 34,000 |
Schedule of Business Acquisition, Pro Forma Information | The unaudited pro forma financial information for the years ended March 31, 2020 and 2019, respectively, combined the historical results of LiveRamp for the years ended March 31, 2020 and 2019 and the historical results of DPM for the years ended December 31, 2019 and 2018 (adjusted due to differences in reporting periods) and the effects of the pro forma adjustments listed above. The unaudited pro forma financial information was as follows (dollars in thousands, except per share data): Year ended March 31, 2020 2019 Revenues $ 381,501 $ 287,467 Net earnings (loss) $ (129,211) $ 1,010,241 Basic earnings (loss) per share $ (1.91) $ 13.47 Diluted earnings (loss) per share $ (1.91) $ 13.47 |
Data Plus Math Corporation | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): July 2, 2019 Assets acquired: Cash $ 438 Trade accounts receivable 957 Goodwill 90,619 Intangible assets 34,000 Other current and noncurrent assets 1,186 Total assets acquired 127,200 Deferred income taxes (6,034) Accounts payable and accrued expenses (2,727) Net assets acquired 118,439 Less: Cash acquired (438) Net purchase price allocated 118,001 Less: Restricted cash held in escrow (14,815) Fair value of replacement stock options considered a component of purchase price (2,300) Net cash paid in acquisition $ 100,886 |
Pacific Data Partners LLC | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): February 14, 2018 Assets acquired: Cash $ 228 Trade accounts receivable 224 Intangible assets 2,200 Goodwill 3,260 Total assets acquired 5,912 Accounts payable and accrued expenses (706) Net assets acquired 5,206 Less: Funds held in escrow (500) Cash acquired (228) Net cash paid $ 4,478 |
DISCONTINUED OPERATIONS_ (Table
DISCONTINUED OPERATIONS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations | The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands): Year ended March 31, 2020 2019 2018 Revenues $ — $ 332,185 $ 697,305 Cost of revenue — 213,512 370,040 Gross profit — 118,673 327,265 Operating expenses: Research and development — 21,621 34,160 Sales and marketing — 60,743 106,960 General and administrative — 71,500 38,372 Gains, losses and other items, net (957) (1,673,636) 3,650 Total operating expenses (957) (1,519,772) 183,142 Income from discontinued operations 957 1,638,445 144,123 Interest expense — (5,702) (10,131) Other, net — 97 (261) Earnings from discontinued operations before income taxes 957 1,632,840 133,731 Income taxes 207 470,346 42,952 Earnings from discontinued operations, net of tax $ 750 $ 1,162,494 $ 90,779 |
Disposal Groups, Including Discontinued Operations, Related Cash Inflows, Cash Outflows, Revenues, And Expenses | The related cash inflows and outflows and revenues and costs for the periods reported are shown below (dollars in thousands): For the twelve months ended For the six months ended March 31, 2020 March 31, 2019 Cash inflows $ 49,543 $ 20,173 Cash outflows $ 10,280 $ 3,609 Revenues $ 47,864 $ 23,810 Costs $ 6,486 $ 6,985 |
OTHER CURRENT AND NONCURRENT _2
OTHER CURRENT AND NONCURRENT ASSETS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
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): March 31, 2020 March 31, 2019 Prepaid expenses and other $ 12,737 $ 9,058 Receivable for cash settlement of withheld income tax withholdings on equity award releases 7,658 — Post-closing receivable from IPG — 17,625 Interest receivable 648 2,497 Assets of non-qualified retirement plan 11,623 14,970 Other current assets $ 32,666 $ 44,150 |
Schedule of components of other noncurrent assets | Other noncurrent assets consist of the following (dollars in thousands): March 31, 2020 March 31, 2019 Internally developed software 889 2,486 Right-of-use asset (see Note 2) 17,830 — Deferred tax asset 852 35 Deposits 2,562 2,463 Other miscellaneous noncurrent assets 5,032 5,819 Other assets, net $ 27,165 $ 10,803 |
OTHER ACCRUED EXPENSES_ (Tables
OTHER ACCRUED EXPENSES: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Other Accrued Expenses [Abstract]. | |
Schedule of other accrued expenses | Other accrued expenses consist of the following (dollars in thousands): March 31, 2020 March 31, 2019 Liabilities of non-qualified retirement plan $ 11,623 $ 14,970 Short-term lease liabilities (See Note 2) 9,641 — PDP performance plan liability (see Note 13) 16,318 — DPM consideration holdback (see Note 13) 6,185 — Other miscellaneous accrued expenses 25,224 25,946 Other accrued expenses $ 68,991 $ 40,916 |
GOODWILL_ (Tables)
GOODWILL: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill by operating segment and activity and by component included in each segment | Goodwill for the years ended March 31, 2020 and 2019 was as follows (dollars in thousands): Total Balance at March 31, 2018 $ 203,639 Reallocation from AMS 1,377 Change in foreign currency translation adjustment (360) Balance at March 31, 2019 $ 204,656 Acquisition of Faktor 3,110 Acquisition of DPM 90,619 Change in foreign currency translation adjustment (589) Balance at March 31, 2020 $ 297,796 Goodwill by geography as of March 31, 2020 was: Total U.S. $ 295,181 APAC 2,615 Balance at March 31, 2020 $ 297,796 |
Schedule of amortization activity of intangible assets | The following table shows the amortization activity of intangible assets (dollars in thousands): March 31, 2020 March 31, 2019 Developed technology, gross $ 66,451 $ 54,000 Accumulated amortization (54,713) (49,625) Net developed technology $ 11,738 $ 4,375 Customer relationship/Trade name, gross $ 42,993 $ 35,800 Accumulated amortization (33,109) (26,128) Net customer/trade name $ 9,884 $ 9,672 Publisher/Data supply relationships, gross $ 39,800 $ 23,800 Accumulated amortization (16,222) (9,255) Net publisher relationship $ 23,578 $ 14,545 Total intangible assets, gross $ 149,244 $ 113,600 Total accumulated amortization (104,044) (85,008) Total intangible assets, net $ 45,200 $ 28,592 |
Schedule of estimated future amortization expenses related to purchases and other intangible assets | The following table presents the estimated future amortization expenses related to purchased intangible assets (dollars in thousands): Fiscal Year: 2021 $ 17,363 2022 14,092 2023 11,683 2024 2,062 $ 45,200 |
INTANGIBLE ASSETS_ (Tables)
INTANGIBLE ASSETS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of amortization activity of intangible assets | The following table shows the amortization activity of intangible assets (dollars in thousands): March 31, 2020 March 31, 2019 Developed technology, gross $ 66,451 $ 54,000 Accumulated amortization (54,713) (49,625) Net developed technology $ 11,738 $ 4,375 Customer relationship/Trade name, gross $ 42,993 $ 35,800 Accumulated amortization (33,109) (26,128) Net customer/trade name $ 9,884 $ 9,672 Publisher/Data supply relationships, gross $ 39,800 $ 23,800 Accumulated amortization (16,222) (9,255) Net publisher relationship $ 23,578 $ 14,545 Total intangible assets, gross $ 149,244 $ 113,600 Total accumulated amortization (104,044) (85,008) Total intangible assets, net $ 45,200 $ 28,592 |
Schedule of estimated future amortization expenses related to purchases and other intangible assets | The following table presents the estimated future amortization expenses related to purchased intangible assets (dollars in thousands): Fiscal Year: 2021 $ 17,363 2022 14,092 2023 11,683 2024 2,062 $ 45,200 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment is summarized as follows (dollars in thousands): March 31, 2020 March 31, 2019 Leasehold improvements $ 25,614 $ 20,097 Data processing equipment 9,499 37,678 Office furniture and other equipment 9,673 7,077 44,786 64,852 Less accumulated depreciation and amortization 25,465 38,809 $ 19,321 $ 26,043 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligation, Fiscal Year Maturity | The table does not include the future payment of liabilities related to uncertain tax positions of $25.0 million as the Company is not able to predict the periods in which the payments will be made (dollars in thousands): For the years ending March 31, 2021 2022 2023 2024 2025 Total Purchase commitments $ 11,298 $ 5,293 $ 3,392 $ 96 $ 48 $ 20,127 Other commitments 22,316 25,754 27,867 7,519 — 83,456 Total purchase and other commitments $ 33,614 $ 31,047 $ 31,259 $ 7,615 $ 48 $ 103,583 |
STOCKHOLDERS' EQUITY_ (Tables)
STOCKHOLDERS' EQUITY: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Schedule of stock-based compensation activity, by award type | The Company's stock-based compensation activity for the twelve months ended March 31, 2020, by award type, was (dollars in millions): Year ended March 31, 2020 2019 2018 Stock options $ 3.7 $ 3.3 $ 5.0 Restricted stock units 55.5 67.0 29.1 Arbor acquisition consideration holdback 2.6 15.3 15.3 DPM acquisition consideration holdback 6.2 — — PDP assumed performance plan 20.3 15.8 2.0 Other non-employee stock-based compensation 1.1 1.3 1.0 Total non-cash stock-based compensation included in the consolidated statements of operations 89.4 102.7 52.9 Less expense related to liability-based equity awards (24.2) (14.2) (1.7) Stock-based compensation of discontinued operations — 62.8 10.3 Total non-cash stock-based compensation included in the consolidated statements of equity $ 65.2 $ 151.3 $ 61.5 |
Schedule of effect of stock-based compensation expense on income, by financial statement line item | The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in millions): Year ended March 31, 2020 2019 2018 Cost of revenue $ 3.8 $ 4.7 $ 2.7 Research and development 23.3 28.2 15.6 Sales and marketing 38.0 44.0 23.4 General and administrative 24.4 25.8 11.2 Total non-cash stock-based compensation included in the consolidated statements of operations $ 89.4 $ 102.7 $ 52.9 |
Schedule of share based compensation arrangement by share based payment award, future expense | The following table provides the expected future expense for all of the Company's outstanding equity awards at March 31, 2020, by award type (dollars in millions). For the years ending 2021 2022 2023 2024 Total Stock options $ 2.3 $ 1.1 $ 0.4 $ — $ 3.8 Restricted stock units 51.7 39.3 25.3 6.2 122.5 DPM acquisition consideration holdback 8.3 8.2 2.1 — 18.6 PDP assumed performance plan 18.1 9.1 — — 27.2 $ 80.4 $ 57.7 $ 27.8 $ 6.2 $ 172.1 |
Schedule of option activity | Stock option activity for the twelve months ended March 31, 2020 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, 2019 1,374,430 $ 14.81 DPM replacement stock options issued 162,481 $ 1.64 Exercised (177,459) $ 6.13 $ 6,666 Forfeited or canceled (8,794) $ 4.82 Outstanding at March 31, 2020 1,350,658 $ 14.43 3.6 $ 24,972 Exercisable at March 31, 2020 1,262,493 $ 15.32 3.3 $ 22,226 |
Summary of stock options outstanding and exercisable | A summary of stock options outstanding and exercisable as of March 31, 2020 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 — $ 9.99 233,296 5.4 years $ 1.60 145,131 $ 1.51 $ 10.00 — $ 19.99 709,672 2.6 years $ 14.69 709,672 $ 14.69 $ 20.00 — $ 24.99 407,690 4.3 years $ 21.31 407,690 $ 21.31 1,350,658 3.6 years $ 14.43 1,262,493 $ 15.32 |
Schedule of performance stock option unit activity | Performance stock option unit activity for the twelve months ended March 31, 2020 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, 2019 130,154 $ 21.44 Forfeited or canceled (130,154) $ 21.44 Outstanding at March 31, 2020 — $ — $ — Exercisable at March 31, 2020 — $ — — $ — |
Schedule Of Share Conversion | Share activity related to these conversions was: Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations TSR-based performance restricted stock units converted to time-based restricted stock units, by fiscal year granted: Original Performance Maturity Date: Fiscal 2017 PSU 3/31/2019 (168,378) (46,218) (214,596) Fiscal 2018 PSU 3/31/2020 (148,963) (36,815) (185,778) Fiscal 2019 PSU 3/31/2021 (186,539) (30,188) (216,727) Totals (503,880) (113,221) (617,101) Time-based restricted stock units converted from TSR-based performance restricted stock units RSU Cliff Vest Date (Continuing Ops Only): Fiscal 2017 PSU 3/31/2019 336,756 92,436 429,192 Fiscal 2018 PSU 3/31/2020 297,926 73,630 371,556 Fiscal 2019 PSU 3/31/2021 373,078 60,376 433,454 Totals 1,007,760 226,442 1,234,202 |
Schedule Of Recognized Incremental and Accelerated Compensation Costs | The impact on compensation costs was (dollars in thousands): Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations Incremental compensation costs $ 7,179 $ 1,599 $ 8,778 Accelerated compensation costs of original grant date fair value related to immediate vesting of converted PSUs of AMS associates $ — $ 1,607 $ 1,607 |
Schedule of time-vesting restricted stock unit activity | Time-vesting restricted stock unit activity for the twelve months ended March 31, 2020 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 3,054,750 $ 30.91 2.47 Granted 1,697,506 $ 50.44 Vested (963,532) $ 27.73 Forfeited or canceled (437,086) $ 38.82 Outstanding at March 31, 2020 3,351,638 $ 40.68 2.51 |
Schedule of non-vested performance-based restricted stock units activity | Non-vested performance-based restricted stock unit activity for the twelve months ended March 31, 2020 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2019 394,188 $ 43.88 3.23 Granted 202,818 $ 60.65 Forfeited or canceled (51,560) $ 34.42 Outstanding at March 31, 2020 545,446 $ 51.01 2.24 |
INCOME TAX_ (Tables)
INCOME TAX: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Total Income Tax Expense (Benefit) | Total income tax expense (benefit) was allocated as follows (dollars in thousands): Year ended March 31, 2020 2019 2018 Continuing operations $ (40,276) $ (45,409) $ (65,723) Discontinued operations 207 470,346 42,952 $ (40,069) $ 424,937 $ (22,771) |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to loss from continuing operations consists of (dollars in thousands): Year ended March 31, 2020 2019 2018 Current: U.S. Federal $ (33,715) $ (39,534) $ (33,626) Non-U.S. 146 323 115 State 171 (16,092) (4,414) (33,398) (55,303) (37,925) Deferred: U.S. Federal (5,103) 1,245 (26,884) Non-U.S. (1,006) 149 21 State (769) 8,500 (935) (6,878) 9,894 (27,798) Total $ (40,276) $ (45,409) $ (65,723) |
Schedule of Income before Income Tax, Domestic and Foreign | Loss before income tax attributable to U.S. and non-U.S. continuing operations consists of (dollars in thousands): Year ended March 31, 2020 2019 2018 U.S. $ (160,457) $ (174,867) $ (132,552) Non-U.S. (5,080) (4,489) (470) Total $ (165,537) $ (179,356) $ (133,022) |
Schedule of Effective Income Tax Rate Reconciliation | Below is a reconciliation of expected income tax benefit computed by applying the U.S. federal statutory rate of 21.0% for fiscal 2020 and 2019 and the blended U.S. federal statutory rate of 31.5% for fiscal 2018 to loss before income taxes to actual income tax benefit from continuing operations (dollars in thousands): Year ended March 31, 2020 2019 2018 Computed expected income tax benefit $ (34,763) $ (37,665) $ (41,967) Increase (reduction) in income taxes resulting from: State income taxes, net of federal benefit (473) (5,998) (3,329) Research and other tax credits (1,517) (3,141) (1,229) Effect of federal rate change on deferred taxes — — (24,565) Nondeductible expenses 838 426 431 Stock-based compensation 5,025 (5,350) 4,452 Non-U.S. subsidiaries taxed at other than 35% 230 1,343 332 Adjustment to valuation allowances (2,245) 5,204 — Net operating loss carryback taxed at other rates (7,360) — — Other, net (11) (228) 152 $ (40,276) $ (45,409) $ (65,723) |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at March 31, 2020 and 2019 are presented below (dollars in thousands). 2020 2019 Deferred tax assets: Accrued expenses $ 3,978 $ 3,347 Deferred revenue 16 19 Lease liabilities 4,939 — Net operating loss carryforwards 33,516 29,032 Stock-based compensation 8,076 10,770 Nonqualified deferred compensation 2,815 3,147 Other 4,018 3,102 Total deferred tax assets 57,358 49,417 Less valuation allowance (32,971) (34,356) Net deferred tax assets 24,387 15,061 Deferred tax liabilities: Prepaid expenses (2,239) (1,222) Capitalized software costs (244) (636) Property and equipment (1,498) (440) Right-of-use assets (4,147) — Intangible assets (9,605) (5,631) Deferred commissions (3,817) (2,586) Accrued expenses (2,189) (4,550) Total deferred tax liabilities (23,739) (15,065) Net deferred tax assets (liabilities) $ 648 $ (4) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table sets forth changes in the total gross unrecognized tax benefits for the fiscal years ended March 31, 2020, 2019 and 2018 (dollars in thousands): Year ended March 31, 2020 2019 2018 Balance at beginning of period $ 19,600 $ 15,415 $ 12,870 Increases related to prior year tax positions 2,458 325 1,134 Decreases related to prior year tax positions (1,048) (292) (208) Increases related to current year tax positions 2,433 5,483 3,172 Lapse of statute of limitations (43) (1,331) (1,553) Balance at end of period $ 23,400 $ 19,600 $ 15,415 |
FOREIGN OPERATIONS_ (Tables)
FOREIGN OPERATIONS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Segments, Geographical Areas [Abstract] | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | The following table shows financial information by geographic area for fiscal 2020, 2019 and 2018 (dollars in thousands): Year ended March 31, Revenue 2020 2019 2018 United States $ 354,437 $ 262,135 $ 197,613 Foreign Europe 20,789 18,566 18,397 APAC 5,346 4,919 4,091 All Foreign 26,135 23,485 22,488 $ 380,572 $ 285,620 $ 220,101 Long-lived assets excluding financial instruments (dollars in thousands): March 31, 2020 2019 United States $ 393,564 $ 276,189 Foreign Europe 8,616 757 APAC 3,638 3,889 All Foreign 12,254 4,646 $ 405,818 $ 280,835 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
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 March 31, 2020 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 11,623 $ — $ — $ 11,623 Total assets $ 11,623 $ — $ — $ 11,623 |
UNAUDITED SELECTED QUARTERLY _2
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA: (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | Unaudited quarterly results are as follows: Quarter ended Quarter ended Quarter ended Quarter ended June 30, September 30, December 31, March 31, (dollars in thousands except per-share amounts) 2019 2019 2019 2020 Revenue $ 82,511 $ 90,143 $ 102,217 $ 105,701 Gross profit 46,085 48,683 64,251 68,849 Net loss from continuing operations (42,140) (40,202) (38,040) (4,879) Earnings from discontinued operations, net of tax — — — 750 Net loss (42,140) (40,202) (38,040) (4,129) Basic earnings (loss) per share: Continuing operations (0.61) (0.59) (0.56) (0.07) Discontinued operations — — — 0.01 Net loss (0.61) (0.59) (0.56) (0.06) Diluted earnings (loss) per share: Continuing operations (0.61) (0.59) (0.56) (0.07) Discontinued operations — — — 0.01 Net loss (0.61) (0.59) (0.56) (0.06) Quarter ended Quarter ended Quarter ended Quarter ended June 30, September 30, December 31, March 31, (dollars in thousands except per-share amounts) 2018 2018 2018 2019 Revenue $ 62,471 $ 64,812 $ 80,021 $ 78,316 Gross profit 38,817 40,346 45,183 40,556 Net loss from continuing operations (27,818) (41,180) (15,261) (49,688) Earnings from discontinued operations, net of tax 24,803 61,803 1,071,661 4,227 Net earnings (loss) (3,015) 20,623 1,056,400 (45,461) Basic earnings (loss) per share: Continuing operations (0.36) (0.53) (0.20) (0.73) Discontinued operations 0.32 0.80 13.85 0.06 Net earnings (loss) (0.04) 0.27 13.65 (0.67) Diluted earnings (loss) per share: Continuing operations (0.36) (0.53) (0.20) (0.73) Discontinued operations 0.32 0.80 13.85 0.06 Net earnings (loss) (0.04) 0.27 13.65 (0.67) |
ORGANIZATION AND SUMMARY OF S_4
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Net earnings (loss) from continuing operations | $ (4,879) | $ (38,040) | $ (40,202) | $ (42,140) | $ (49,688) | $ (15,261) | $ (41,180) | $ (27,818) | $ (125,261) | $ (133,947) | $ (67,299) |
Earnings from discontinued operations, net of tax | 750 | 0 | 0 | 0 | 4,227 | 1,071,661 | 61,803 | 24,803 | 750 | 1,162,494 | 90,779 |
Net loss | $ (4,129) | $ (38,040) | $ (40,202) | $ (42,140) | $ (45,461) | $ 1,056,400 | $ 20,623 | $ (3,015) | $ (124,511) | $ 1,028,547 | $ 23,480 |
Basic earnings (loss) per share: | |||||||||||
Basic weighted-average shares outstanding (in shares) | 67,760 | 75,020 | 78,891 | ||||||||
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (0.07) | $ (0.56) | $ (0.59) | $ (0.61) | $ (0.73) | $ (0.20) | $ (0.53) | $ (0.36) | $ (1.85) | $ (1.79) | $ (0.85) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0.01 | 0 | 0 | 0 | 0.06 | 13.85 | 0.80 | 0.32 | 0.01 | 15.50 | 1.15 |
Basic earnings (loss) per share (in USD per share) | (0.06) | (0.56) | (0.59) | (0.61) | (0.67) | 13.65 | 0.27 | (0.04) | $ (1.84) | $ 13.71 | $ 0.30 |
Diluted earnings (loss) per share: | |||||||||||
Basic weighted-average shares outstanding (in shares) | 67,760 | 75,020 | 78,891 | ||||||||
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method (in shares) | 0 | 0 | 0 | ||||||||
Diluted weighted-average shares outstanding | 67,760 | 75,020 | 78,891 | ||||||||
Diluted earnings (loss) per share from continuing operations (in dollars per share) | (0.07) | (0.56) | (0.59) | (0.61) | (0.73) | (0.20) | (0.53) | (0.36) | $ (1.85) | $ (1.79) | $ (0.85) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0.01 | 0 | 0 | 0 | 0.06 | 13.85 | 0.80 | 0.32 | 0.01 | 15.50 | 1.15 |
Diluted earnings (loss), net per share (in USD per share) | $ (0.06) | $ (0.56) | $ (0.59) | $ (0.61) | $ (0.67) | $ 13.65 | $ 0.27 | $ (0.04) | $ (1.84) | $ 13.71 | $ 0.30 |
Stockholders' Equity Attributable to Parent [Abstract] | |||||||||||
Antidilutive securities excluded from computation of earnings per share, amount | 1,368 | 227 | 20 | ||||||||
Minimum | |||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Options, Exercise Price | $ 32.85 | ||||||||||
Maximum | |||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Options, Exercise Price | $ 32.85 | ||||||||||
Continuing operations | |||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | |||||||||||
Antidilutive securities excluded from computation of earnings per share, amount | 2,393 | 3,393 | 2,627 |
ORGANIZATION AND SUMMARY OF S_5
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Finite-Lived Intangible Assets (Details) | 12 Months Ended |
Mar. 31, 2020 | |
Minimum | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 2 years |
Maximum | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 6 years |
Acquired developed technology | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 10 months 24 days |
Customer relationships | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 3 months 18 days |
Publisher and Data Supply relationships | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 2 months 12 days |
ORGANIZATION AND SUMMARY OF S_6
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Summary of the activity of the allowance for doubtful accounts, returns and credits (Details) - Allowance for doubtful accounts returns and credits - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of period | $ 3,007 | $ 3,182 | $ 2,137 |
Additions charged to costs and expenses | 7,133 | 3,069 | 1,214 |
Other changes | 86 | (92) | 123 |
Bad debts written off, net of amounts recovered | (2,651) | (3,152) | (292) |
Balance at end of period | $ 7,575 | $ 3,007 | $ 3,182 |
ORGANIZATION AND SUMMARY OF S_7
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Apr. 01, 2019 | |
Property, Plant and Equipment [Line Items] | ||||
Unbiled amounts included in accounts receivable | $ 5,000 | $ 2,500 | ||
CARES Act, bad debt expense | 3,500 | |||
Recognition of capitalized contract cost | 5,300 | 4,300 | ||
Right-of-use asset (see Note 2) | 17,830 | 0 | ||
Advertising expense | $ 9,800 | $ 8,200 | $ 8,300 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Concentration risk, percentage | 35.00% | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Interpublic Group of Companies | ||||
Property, Plant and Equipment [Line Items] | ||||
Concentration risk, percentage | 14.00% | |||
Accounting Standards Update 2016-02 | ||||
Property, Plant and Equipment [Line Items] | ||||
Right-of-use asset (see Note 2) | $ 22,900 | |||
Short-term lease liabilities (See Note 2) | 8,400 | |||
Long-term lease liabilities | 17,900 | |||
Deferred rent | $ (3,400) | |||
Minimum | Incentive Stock Option | ||||
Property, Plant and Equipment [Line Items] | ||||
Exercise price as a percentage of the per-share market value of the Company's shares at the date of grant | 100.00% | |||
Minimum | Leasehold improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 5 years | |||
Minimum | Data processing equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 2 years | |||
Minimum | Office furniture and other equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 3 years | |||
Maximum | Incentive Stock Option | ||||
Property, Plant and Equipment [Line Items] | ||||
Duration of stock options granted | 10 years | |||
Maximum | Nonqualified Options | ||||
Property, Plant and Equipment [Line Items] | ||||
Exercise price as a percentage of the per-share market value of the Company's shares at the date of grant | 100.00% | |||
Duration of stock options granted | 10 years | |||
Maximum | Leasehold improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 7 years | |||
Maximum | Data processing equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 5 years | |||
Maximum | Office furniture and other equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life | 7 years |
LEASES_ Narrative (Details)
LEASES: Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Operating lease costs | $ 10,100 | ||
Rent expense | $ 12,800 | $ 9,500 | |
Fiscal 2021 | 10,703 | ||
Fiscal 2022 | 9,076 | ||
Fiscal 2023 | 2,678 | ||
Fiscal 2024 | 767 | ||
Fiscal 2025 | 65 | ||
Thereafter | 0 | ||
Leased office facilities | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Fiscal 2021 | 2,560 | ||
Fiscal 2022 | 2,611 | ||
Fiscal 2023 | 2,663 | ||
Fiscal 2024 | 2,698 | ||
Fiscal 2025 | 2,698 | ||
Thereafter | $ 1,799 |
LEASES_ Lease Cost (Details)
LEASES: Lease Cost (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Lessee, Lease, Description [Line Items] | ||
Right-of-use asset (see Note 2) | $ 17,830 | $ 0 |
Other Noncurrent Assets | ||
Lessee, Lease, Description [Line Items] | ||
Right-of-use asset (see Note 2) | 17,800 | |
Accrued Liabilities | ||
Lessee, Lease, Description [Line Items] | ||
Short-term lease liabilities (See Note 2) | 9,641 | $ 0 |
Other Noncurrent Liabilities | ||
Lessee, Lease, Description [Line Items] | ||
Long-term lease liabilities | $ 11,400 |
LEASES_ Supplemental informatio
LEASES: Supplemental information related to operating leases (Details) $ in Thousands | 12 Months Ended |
Mar. 31, 2020USD ($) | |
Leases [Abstract] | |
Operating cash flows used for operating leases | $ 9,906 |
Right-of-use assets obtained in exchange for new lease liabilities | $ 2,707 |
Weighted average remaining lease term | 2 years 4 months 24 days |
Weighted average discount rate | 5.00% |
LEASES_ Operating Lease, Liabil
LEASES: Operating Lease, Liability Maturity (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Leases [Abstract] | |
Fiscal 2021 | $ 10,703 |
Fiscal 2022 | 9,076 |
Fiscal 2023 | 2,678 |
Fiscal 2024 | 767 |
Fiscal 2025 | 65 |
Thereafter | 0 |
Total undiscounted lease commitments | 23,289 |
Less: Interest and short-term leases | 2,199 |
Other Liabilities | |
Leases [Abstract] | |
Total discounted operating lease liabilities | 21,090 |
Lessee, Lease, Description [Line Items] | |
Total discounted operating lease liabilities | $ 21,090 |
LEASES_ Future minimum lease pa
LEASES: Future minimum lease payments under all noncancellable operating leases (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 12,057 |
2021 | 11,253 |
2022 | 10,865 |
2023 | 5,160 |
2024 | 3,270 |
Thereafter | 4,497 |
Total | $ 47,102 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | $ 105,701 | $ 102,217 | $ 90,143 | $ 82,511 | $ 78,316 | $ 80,021 | $ 64,812 | $ 62,471 | $ 380,572 | $ 285,620 | $ 220,101 |
Subscription | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 305,679 | 236,718 | 172,079 | ||||||||
Marketplace and Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 74,893 | 48,902 | 48,022 | ||||||||
United States | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 354,437 | 262,135 | 197,613 | ||||||||
Europe | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | 20,789 | 18,566 | 18,397 | ||||||||
APAC | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenues | $ 5,346 | $ 4,919 | $ 4,091 |
REVENUE FROM CONTRACTS WITH C_4
REVENUE FROM CONTRACTS WITH CUSTOMERS: Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions | Mar. 31, 2020USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 350 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, remaining performance obligation | $ 221.4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months |
RESTRUCTURING, IMPAIRMENT AND_3
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Summary of restructuring activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Restructuring Reserve [Roll Forward] | |||
Restructuring charges and adjustments | $ 3,430 | $ 7,745 | $ 2,746 |
Restructuring Reserve, at the end of the period | 6,200 | ||
Continuing operations | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the beginning of the period | 10,283 | 5,830 | 4,630 |
Restructuring charges and adjustments | 3,430 | 7,745 | 2,746 |
Payments | (7,020) | (3,292) | (1,546) |
Restructuring Reserve, at the end of the period | 6,693 | 10,283 | 5,830 |
Continuing operations | Associate-related reserves | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the beginning of the period | 4,595 | 542 | 322 |
Restructuring charges and adjustments | 2,291 | 6,163 | 182 |
Payments | (6,436) | (2,110) | 38 |
Restructuring Reserve, at the end of the period | 450 | 4,595 | 542 |
Continuing operations | Lease accruals | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the beginning of the period | 5,688 | 5,288 | 4,308 |
Restructuring charges and adjustments | 1,139 | 1,582 | 2,564 |
Payments | (584) | (1,182) | (1,584) |
Restructuring Reserve, at the end of the period | $ 6,243 | $ 5,688 | $ 5,288 |
RESTRUCTURING, IMPAIRMENT AND_4
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ 3,430 | $ 7,745 | $ 2,746 | ||
Restructuring reserve | 6,200 | ||||
Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 3,400 | $ 3,000 | |||
Restructuring Activity 2019 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 7,700 | ||||
Restructuring Activity 2018 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 2,700 | ||||
Restructuring Activity 2015 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ 9,300 | ||||
Employee Severance | Restructuring Activity 2018 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 200 | ||||
Employee Severance | Restructuring Activity 2015 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 2,600 | ||||
Termination Of Associates | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 1,100 | 3,000 | |||
Termination Of Associates | Restructuring Activity 2019 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 800 | ||||
Termination Of Associates | Restructuring Activity 2018 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ 2,500 | ||||
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 | ||||
Contract Termination | Restructuring Activity 2015 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 4,700 | ||||
Leasehold Improvement Write Offs | Restructuring Activity 2019 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 800 | ||||
Leasehold Improvement Write Offs | Restructuring Activity 2015 | Gains Losses And Other Items Net | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ 2,000 | ||||
Asia-Pacific | Employee Severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 600 | ||||
Restructuring reserve | 200 | ||||
United States | Employee Severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | 1,700 | ||||
United States Australia China And Europe | Employee Severance | Restructuring Activity 2019 | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ 6,100 | ||||
United States Australia China And Europe | Employee Severance | Restructuring Activity 2015 | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring reserve | $ 200 |
RESTRUCTURING, IMPAIRMENT AND_5
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Gains, losses and other items (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |||
Restructuring plan charges and adjustments | $ 3,430 | $ 7,745 | $ 2,746 |
Early contract terminations | 908 | 12,188 | 0 |
Other | 663 | 0 | (23) |
Gains, losses and other items, net | $ 5,001 | $ 19,933 | $ 2,723 |
ACQUISITIONS_ Narrative (Detail
ACQUISITIONS: Narrative (Details) € in Thousands, $ in Thousands | Jul. 02, 2019USD ($) | Jul. 02, 2019EUR (€) | Apr. 02, 2019USD ($) | Apr. 01, 2019USD ($) | Feb. 14, 2018USD ($) | Mar. 31, 2020USD ($)numberOfExerciseMultiplenumberOfIncrement | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) |
Business Acquisition [Line Items] | ||||||||
Net cash paid | $ 105,365 | $ 0 | $ 4,478 | |||||
Number of increments | numberOfIncrement | 4 | |||||||
Other accrued expenses | $ 68,991 | $ 40,916 | ||||||
Consideration Holdback | ||||||||
Business Acquisition [Line Items] | ||||||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | |||||||
Data Plus Math Corporation | ||||||||
Business Acquisition [Line Items] | ||||||||
Business combination, consideration transferred | $ 118,001 | |||||||
Escrow deposit | $ 14,800 | |||||||
Total fair value of the replacement stock options issued | 7,400 | |||||||
Fair value of replacement stock options considered a component of purchase price | 2,300 | |||||||
Share-based payment arrangement, amount capitalized | 5,100 | |||||||
Net cash paid | 100,886 | € 100,886 | ||||||
Funds held in escrow | 14,815 | |||||||
Cash | $ 438 | |||||||
Data Plus Math Corporation | Consideration Holdback | ||||||||
Business Acquisition [Line Items] | ||||||||
Business combination, contingent consideration arrangements, range of outcomes, value, high | $ 24,700 | |||||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | |||||||
Contingent consideration arrangements, earning period | 3 years | |||||||
Faktor B. V. | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to acquire businesses, gross | $ 4,500 | |||||||
Net cash paid | $ 4,479 | |||||||
Cash | $ 35 | |||||||
Pacific Data Partners LLC | ||||||||
Business Acquisition [Line Items] | ||||||||
Net cash paid | $ 4,478 | |||||||
Funds held in escrow | 500 | |||||||
Cash | $ 228 | |||||||
Annual payout, percentage | 90.00% | |||||||
Performance compensation plan, trading days | 20 days | |||||||
End of period annual payout, percentage | 10.00% | |||||||
Non-cash stock-based compensation expense | $ 37,800 | |||||||
Other accrued expenses | $ 16,300 | |||||||
Pacific Data Partners LLC | Time Vesting Restricted Stock Units | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of increments | numberOfIncrement | 3 | |||||||
Debt conversion, converted instrument, rate | 100.00% | |||||||
Incremental compensation cost | $ 600 | |||||||
Pacific Data Partners LLC | Minimum | ||||||||
Business Acquisition [Line Items] | ||||||||
Performance attainment payment | 0 | |||||||
Pacific Data Partners LLC | Maximum | ||||||||
Business Acquisition [Line Items] | ||||||||
Performance attainment payment | $ 65,000 |
ACQUISITIONS_ Composition of th
ACQUISITIONS: Composition of the total fair vale of consideration transferred (Details) € in Thousands, $ in Thousands | Jul. 02, 2019USD ($) | Jul. 02, 2019EUR (€) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) |
Business Acquisition [Line Items] | |||||
Net cash paid | $ 105,365 | $ 0 | $ 4,478 | ||
Data Plus Math Corporation | |||||
Business Acquisition [Line Items] | |||||
Net cash paid | $ 100,886 | € 100,886 | |||
Cash | 438 | ||||
Restricted cash held in escrow | 14,815 | ||||
Fair value of replacement stock options considered a component of purchase price | 2,300 | ||||
Total fair value of consideration transferred | $ 118,001 |
ACQUISITIONS_ Purchase price al
ACQUISITIONS: Purchase price allocation related to assets acquired and liabilities assumed (Details) € in Thousands, $ in Thousands | Jul. 02, 2019USD ($) | Jul. 02, 2019EUR (€) | Apr. 02, 2019USD ($) | Feb. 14, 2018USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 297,796 | $ 204,656 | $ 203,639 | ||||
Net cash paid | $ 105,365 | $ 0 | $ 4,478 | ||||
Data Plus Math Corporation | |||||||
Business Acquisition [Line Items] | |||||||
Cash | $ 438 | ||||||
Trade accounts receivable | 957 | ||||||
Goodwill | 90,619 | ||||||
Intangible assets | 34,000 | ||||||
Other current and noncurrent assets | 1,186 | ||||||
Total assets acquired | 127,200 | ||||||
Deferred income taxes | (6,034) | ||||||
Accounts payable and accrued expenses | (2,727) | ||||||
Net assets acquired | 118,439 | ||||||
Funds held in escrow | (14,815) | ||||||
Cash acquired | (438) | ||||||
Net purchase price allocated | 118,001 | ||||||
Fair value of replacement stock options considered a component of purchase price | (2,300) | ||||||
Net cash paid | $ 100,886 | € 100,886 | |||||
Faktor B. V. | |||||||
Business Acquisition [Line Items] | |||||||
Cash | $ 35 | ||||||
Trade accounts receivable | 63 | ||||||
Goodwill | 3,110 | ||||||
Intangible assets | 1,700 | ||||||
Other current and noncurrent assets | 126 | ||||||
Total assets acquired | 5,034 | ||||||
Deferred income taxes | (194) | ||||||
Accounts payable and accrued expenses | (326) | ||||||
Net assets acquired | 4,514 | ||||||
Cash acquired | (35) | ||||||
Net cash paid | $ 4,479 | ||||||
Pacific Data Partners LLC | |||||||
Business Acquisition [Line Items] | |||||||
Cash | $ 228 | ||||||
Trade accounts receivable | 224 | ||||||
Goodwill | 3,260 | ||||||
Total assets acquired | 5,912 | ||||||
Accounts payable and accrued expenses | (706) | ||||||
Net assets acquired | 5,206 | ||||||
Funds held in escrow | (500) | ||||||
Cash acquired | (228) | ||||||
Intangible assets | 2,200 | ||||||
Net cash paid | $ 4,478 |
ACQUISITIONS_ Components of int
ACQUISITIONS: Components of intangible assets acquired and their estimated useful lives as of the acquisition date (Details) - Data Plus Math Corporation $ in Thousands | Jul. 02, 2019USD ($) |
Business Acquisition [Line Items] | |
Intangible assets | $ 34,000 |
Acquired developed technology | |
Business Acquisition [Line Items] | |
Intangible assets | $ 11,000 |
Amortization period | 4 years |
Data supply relationships | |
Business Acquisition [Line Items] | |
Intangible assets | $ 16,000 |
Amortization period | 4 years |
Customer relationships | |
Business Acquisition [Line Items] | |
Intangible assets | $ 6,000 |
Amortization period | 4 years |
Trademarks | |
Business Acquisition [Line Items] | |
Intangible assets | $ 1,000 |
Amortization period | 2 years |
ACQUISITIONS_ Schedule of Pro F
ACQUISITIONS: Schedule of Pro Forma Financial Information (Details) - Data Plus Math Corporation - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ||
Revenues | $ 381,501 | $ 287,467 |
Net earnings (loss) | $ (129,211) | $ 1,010,241 |
Pro forma basic earnings (loss) per share, (in dollars per share) | $ (1.91) | $ 13.47 |
Pro forma diluted earnings (loss) per share, (in dollars per share) | $ (1.91) | $ 13.47 |
DISCONTINUED OPERATIONS_ Narrat
DISCONTINUED OPERATIONS: Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Incremental increase to previous periods | $ 15.5 | |
Acxiom Marketing Solutions | Discontinued Operations | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Cash proceeds from disposal of operations | $ 2,300 | |
Closing adjustments and transaction costs | 49 | |
Repayments of debt | 230.5 | |
Discontinued operation, gain (loss) on disposal of discontinued operation, net of tax | $ 1,700 |
DISCONTINUED OPERATIONS_ Reconc
DISCONTINUED OPERATIONS: Reconciliation of the major classes of line items constituting earnings from discontinued operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Income taxes | $ 207 | $ 470,346 | $ 42,952 | ||||||||
Earnings from discontinued operations, net of tax | $ 750 | $ 0 | $ 0 | $ 0 | $ 4,227 | $ 1,071,661 | $ 61,803 | $ 24,803 | 750 | $ 1,162,494 | 90,779 |
Acxiom Marketing Solutions | Discontinued Operations | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Revenues | 332,185 | 0 | 697,305 | ||||||||
Costs of revenues | 213,512 | 0 | 370,040 | ||||||||
Gross profit | 118,673 | 0 | 327,265 | ||||||||
Research and development | 21,621 | 0 | 34,160 | ||||||||
Sales and marketing | 60,743 | 0 | 106,960 | ||||||||
General and administrative | 71,500 | 0 | 38,372 | ||||||||
Gains, losses and other items, net | (1,673,636) | (957) | 3,650 | ||||||||
Total operating expense | (1,519,772) | (957) | 183,142 | ||||||||
Income from discontinued operations | 1,638,445 | 957 | 144,123 | ||||||||
Interest expense | (5,702) | 0 | (10,131) | ||||||||
Other, net | 97 | 0 | (261) | ||||||||
Earnings from discontinued operations before income taxes | 1,632,840 | 957 | 133,731 | ||||||||
Income taxes | 470,346 | 207 | 42,952 | ||||||||
Earnings from discontinued operations, net of tax | $ 1,162,494 | $ 750 | $ 90,779 |
DISCONTINUED OPERATIONS_ The re
DISCONTINUED OPERATIONS: The related cash inflows and outflows and revenues and expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | ||
Cash inflows | $ 49,543 | $ 20,173 |
Cash outflows | 10,280 | 3,609 |
Revenues | 47,864 | 23,810 |
Costs | $ 6,486 | $ 6,985 |
OTHER CURRENT AND NONCURRENT _3
OTHER CURRENT AND NONCURRENT ASSETS: (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Other current assets | ||
Prepaid expenses and other | $ 12,737 | $ 9,058 |
Income Taxes Receivable | 7,658 | 0 |
Post-closing receivable from IPG | 0 | 17,625 |
Interest receivable | 648 | 2,497 |
Assets of non-qualified retirement plan | 11,623 | 14,970 |
Other current assets | 32,666 | 44,150 |
Other noncurrent assets | ||
Internally developed software | 889 | 2,486 |
Right-of-use asset (see Note 2) | 17,830 | 0 |
Deferred tax asset | 852 | 35 |
Deposits | 2,562 | 2,463 |
Other miscellaneous noncurrent assets | 5,032 | 5,819 |
Other assets, net | $ 27,165 | $ 10,803 |
OTHER ACCRUED EXPENSES_ (Detail
OTHER ACCRUED EXPENSES: (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Lessee, Lease, Description [Line Items] | ||
Liabilities of non-qualified retirement plan | $ 11,623 | $ 14,970 |
PDP performance plan liability (see Note 13) | 16,318 | 0 |
DPM consideration holdback (see Note 13) | 6,185 | 0 |
Other miscellaneous accrued expenses | 25,224 | 25,946 |
Other accrued expenses | 68,991 | 40,916 |
Accrued Liabilities | ||
Lessee, Lease, Description [Line Items] | ||
Short-term lease liabilities (See Note 2) | $ 9,641 | $ 0 |
GOODWILL_ (Details)
GOODWILL: (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Goodwill | ||
Goodwill at the beginning of year | $ 204,656 | $ 203,639 |
Other increase (decrease) | 3,110 | 1,377 |
Change in foreign currency translation adjustment | (589) | (360) |
Acquisition of DPM | 90,619 | |
Goodwill at the end of year | 297,796 | $ 204,656 |
U.S. | ||
Goodwill | ||
Goodwill at the end of year | 295,181 | |
APAC | ||
Goodwill | ||
Goodwill at the end of year | $ 2,615 |
INTANGIBLE ASSETS_ (Details)
INTANGIBLE ASSETS: (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 19 | $ 15.9 | $ 23.9 |
INTANGIBLE ASSETS_ - Amounts al
INTANGIBLE ASSETS: - Amounts allocated to intangible assets from acquisitions (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | $ 149,244 | $ 113,600 |
Accumulated amortization | (104,044) | (85,008) |
Total finite-lived intangible assets, net | 45,200 | 28,592 |
Developed technology, gross (Software) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 66,451 | 54,000 |
Accumulated amortization | (54,713) | (49,625) |
Total finite-lived intangible assets, net | 11,738 | 4,375 |
Trade name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 42,993 | 35,800 |
Accumulated amortization | (33,109) | (26,128) |
Total finite-lived intangible assets, net | 9,884 | 9,672 |
Publisher Relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 39,800 | 23,800 |
Accumulated amortization | (16,222) | (9,255) |
Total finite-lived intangible assets, net | $ 23,578 | $ 14,545 |
INTANGIBLE ASSETS_ - Estimated
INTANGIBLE ASSETS: - Estimated future amortization expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 19,000 | $ 15,900 | $ 23,900 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2021 | 17,363 | ||
2022 | 14,092 | ||
2023 | 11,683 | ||
2024 | 2,062 | ||
Total finite-lived intangible assets, net | $ 45,200 | $ 28,592 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 15,300 | $ 15,600 | $ 11,800 |
Accelerated depreciation | 3,600 | 3,800 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 44,786 | 64,852 | |
Less accumulated depreciation and amortization | 25,465 | 38,809 | |
Property and equipment, net of accumulated depreciation and amortization | 19,321 | 26,043 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 25,614 | 20,097 | |
Data processing equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 9,499 | 37,678 | |
Office furniture and other equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 9,673 | $ 7,077 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: (Details) $ in Thousands | Mar. 31, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, bad debt reserve for tax purposes of qualified lender | $ 25,000 |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2021 | 11,298 |
2022 | 5,293 |
2023 | 3,392 |
2024 | 96 |
2025 | 48 |
Total | 20,127 |
Other Commitments [Abstract] | |
2021 | 22,316 |
2022 | 25,754 |
2023 | 27,867 |
2024 | 7,519 |
2025 | 0 |
Total | 83,456 |
Purchase Obligation And Other Commitment [Abstract] | |
2021 | 33,614 |
2022 | 31,047 |
2023 | 31,259 |
2024 | 7,615 |
2025 | 48 |
Total | $ 103,583 |
STOCKHOLDERS' EQUITY_ - Narrati
STOCKHOLDERS' EQUITY: - Narrative (Details) - USD ($) | Oct. 25, 2018 | Dec. 31, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2020 |
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | 200,000,000 | |||
Common stock, par or stated value (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.10 | |||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||
Preferred stock, par or stated value (in dollars per shares) | $ 1 | $ 1 | $ 1 | |||
Stockholders' Equity Note [Abstract] | ||||||
Acquisition of treasury stock (in shares) | 26,900,000 | |||||
Acquisition of treasury stock | $ 182,190,000 | $ 74,421,000 | $ 88,884,000 | $ 631,200,000 | ||
Stock repurchase program, remaining amount | $ 368,800,000 | $ 368,800,000 | ||||
Treasury stock, at cost (in shares) | 78,100,000 | 73,200,000 | 78,100,000 | |||
Acquisition of treasury stock from tender offer | $ 0 | $ 503,393,000 | $ 0 | |||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 42,300,000 | |||||
Restricted stock units | Share-based Payment Arrangement, Tranche Three | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Incremental compensation cost | $ 14,300,000 | |||||
Forfeited in period (in shares) | 500,000 | |||||
Compensation costs | $ 19,800,000 | |||||
Incremental compensation cost | 5,500,000 | |||||
Performance stock | Shares Vesting Based On Relevant Performance Period At March 31 2018 | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Award vesting rights percentage | 0.00% | |||||
Time Vesting Restricted Stock Units | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Incremental compensation cost | $ 27,000,000 | |||||
Conversion percentage | 200.00% | |||||
Amended Common Stock Repurchase Plan | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Stock repurchase program, authorized amount | $ 500,000,000 | |||||
Acquisition of treasury stock (in shares) | 2,400,000 | 3,300,000 | ||||
Acquisition of treasury stock | $ 74,400,000 | $ 88,900,000 | ||||
Dutch Auction Tender Offer | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Stock repurchase program, authorized amount | $ 500,000,000 | |||||
Repurchase of common stock, percentage | 2.00% | 14.20% | ||||
Treasury stock, at cost (in shares) | 11,200,000 | |||||
Treasury stock cost per share (in dollar per share) | $ 44.50 | |||||
Acquisition of treasury stock from tender offer | $ 503,400,000 | |||||
Common Stock Repurchase Program | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Stock repurchase program, authorized amount | $ 1,000,000,000 | |||||
Acquisition of treasury stock (in shares) | 4,400,000 | |||||
Acquisition of treasury stock | $ 182,200,000 | |||||
Amended and Restated 2005 Equity Compensation Plan | ||||||
Stockholders' Equity Note [Abstract] | ||||||
Shares which remained available for future grants (in shares) | 37,900,000 | 32,900,000 | ||||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 34,500,000 |
STOCKHOLDERS' EQUITY_ Stock-bas
STOCKHOLDERS' EQUITY: Stock-based compensation activity, by award type (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based compensation | |||
Other non-employee stock-based compensation | $ 1.1 | $ 1.3 | $ 1 |
Total non-cash stock-based compensation | 89.4 | 102.7 | 52.9 |
Stock-based compensation of discontinued operations | 0 | 62.8 | 10.3 |
Total non-cash stock-based compensation included in the consolidated statements of equity | 65.2 | 151.3 | 61.5 |
Stock options | |||
Share-based compensation | |||
Share-based compensation expense | 3.7 | 3.3 | 5 |
Restricted stock units | |||
Share-based compensation | |||
Share-based compensation expense | 55.5 | 67 | 29.1 |
Arbor Holdback Agreement | Arbor | |||
Share-based compensation | |||
Share-based compensation expense | 2.6 | 15.3 | 15.3 |
Consideration Holdback | Data Plus Math Corporation | |||
Share-based compensation | |||
Share-based compensation expense | 6.2 | 0 | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | |||
Share-based compensation | |||
Share-based compensation expense | 20.3 | 15.8 | 2 |
Liability-based equity awards | |||
Share-based compensation | |||
Total non-cash stock-based compensation | $ (24.2) | $ (14.2) | $ (1.7) |
STOCKHOLDERS' EQUITY_ - Effect
STOCKHOLDERS' EQUITY: - Effect of stock-based compensation expense on income, by financial statement line item (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based compensation | |||
Total non-cash stock-based compensation | $ 89.4 | $ 102.7 | $ 52.9 |
Cost of revenue | |||
Share-based compensation | |||
Total non-cash stock-based compensation | 3.8 | 4.7 | 2.7 |
Research and development | |||
Share-based compensation | |||
Total non-cash stock-based compensation | 23.3 | 28.2 | 15.6 |
Sales and marketing | |||
Share-based compensation | |||
Total non-cash stock-based compensation | 38 | 44 | 23.4 |
General and administrative | |||
Share-based compensation | |||
Total non-cash stock-based compensation | $ 24.4 | $ 25.8 | $ 11.2 |
STOCKHOLDERS' EQUITY_ Future ex
STOCKHOLDERS' EQUITY: Future expense, by award type (Details) $ in Millions | Mar. 31, 2020USD ($) |
Share-based compensation | |
Total | $ 172.1 |
2021 | |
Share-based compensation | |
Total | 80.4 |
2022 | |
Share-based compensation | |
Total | 57.7 |
2023 | |
Share-based compensation | |
Total | 27.8 |
2024 | |
Share-based compensation | |
Total | 6.2 |
Stock options | |
Share-based compensation | |
Share-based compensation not yet recognized | 3.8 |
Stock options | 2021 | |
Share-based compensation | |
Share-based compensation not yet recognized | 2.3 |
Stock options | 2022 | |
Share-based compensation | |
Share-based compensation not yet recognized | 1.1 |
Stock options | 2023 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0.4 |
Stock options | 2024 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Restricted stock units | |
Share-based compensation | |
Future share-based compensation expense expected | 122.5 |
Restricted stock units | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 51.7 |
Restricted stock units | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 39.3 |
Restricted stock units | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 25.3 |
Restricted stock units | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 6.2 |
Consideration Holdback | Data Plus Math Corporation | |
Share-based compensation | |
Future share-based compensation expense expected | 18.6 |
Consideration Holdback | Data Plus Math Corporation | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 8.3 |
Consideration Holdback | Data Plus Math Corporation | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 8.2 |
Consideration Holdback | Data Plus Math Corporation | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 2.1 |
Consideration Holdback | Data Plus Math Corporation | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | |
Share-based compensation | |
Future share-based compensation expense expected | 27.2 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 18.1 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 9.1 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | $ 0 |
STOCKHOLDERS' EQUITY_ - Summary
STOCKHOLDERS' EQUITY: - Summary of Options (Details) | 12 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Stock options outstanding and exercisable by exercise price range | |
Options outstanding (in shares) | shares | 1,350,658 |
Options outstanding - Weighted-average remaining contractual life | 3 years 7 months 6 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.43 |
Options exercisable (in shares) | shares | 1,262,493 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 15.32 |
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) | shares | 233,296 |
Options outstanding - Weighted-average remaining contractual life | 5 years 4 months 24 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 1.60 |
Options exercisable (in shares) | shares | 145,131 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.51 |
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) | shares | 709,672 |
Options outstanding - Weighted-average remaining contractual life | 2 years 7 months 6 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.69 |
Options exercisable (in shares) | shares | 709,672 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 14.69 |
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) | shares | 407,690 |
Options outstanding - Weighted-average remaining contractual life | 4 years 3 months 18 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
Options exercisable (in shares) | shares | 407,690 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
STOCKHOLDERS' EQUITY_ Share act
STOCKHOLDERS' EQUITY: Share activity related to PSU conversions (Details) | 12 Months Ended |
Mar. 31, 2019shares | |
Performance Based Restricted Stock Units | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (617,101) |
Performance Based Restricted Stock Units | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (214,596) |
Performance Based Restricted Stock Units | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (185,778) |
Performance Based Restricted Stock Units | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (216,727) |
Performance Based Restricted Stock Units | Continuing operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (503,880) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (168,378) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (148,963) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (186,539) |
Performance Based Restricted Stock Units | Discontinued Operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (113,221) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (46,218) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (36,815) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (30,188) |
Time Vesting Restricted Stock Units1 [Member] | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 1,234,202 |
Time Vesting Restricted Stock Units1 [Member] | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 429,192 |
Time Vesting Restricted Stock Units1 [Member] | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 371,556 |
Time Vesting Restricted Stock Units1 [Member] | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 433,454 |
Time Vesting Restricted Stock Units1 [Member] | Continuing operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 1,007,760 |
Time Vesting Restricted Stock Units1 [Member] | Continuing operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 336,756 |
Time Vesting Restricted Stock Units1 [Member] | Continuing operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 297,926 |
Time Vesting Restricted Stock Units1 [Member] | Continuing operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 373,078 |
Time Vesting Restricted Stock Units1 [Member] | Discontinued Operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 226,442 |
Time Vesting Restricted Stock Units1 [Member] | Discontinued Operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 92,436 |
Time Vesting Restricted Stock Units1 [Member] | Discontinued Operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 73,630 |
Time Vesting Restricted Stock Units1 [Member] | Discontinued Operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 60,376 |
STOCKHOLDERS' EQUITY_ Recogniti
STOCKHOLDERS' EQUITY: Recognition of incremental and accelerated compensation costs related to the PSU conversions (Details) - Performance Based Restricted Stock Units $ in Thousands | 12 Months Ended |
Mar. 31, 2019USD ($) | |
Share-based compensation | |
Incremental compensation cost | $ 8,778 |
Accelerated compensation cost | 1,607 |
Continuing operations | |
Share-based compensation | |
Incremental compensation cost | 7,179 |
Accelerated compensation cost | 0 |
Discontinued Operations | |
Share-based compensation | |
Incremental compensation cost | 1,599 |
Accelerated compensation cost | $ 1,607 |
STOCKHOLDERS' EQUITY_ - Stock-b
STOCKHOLDERS' EQUITY: - Stock-based Compensation Plans Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based compensation | |||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 42,300,000 | ||
Restricted stock units | Share-based Payment Arrangement, Tranche Three | |||
Share-based compensation | |||
Forfeited in period (in shares) | 500,000 | ||
Compensation costs | $ 19.8 | ||
Incremental compensation cost | $ 14.3 | ||
Incremental compensation cost | $ 5.5 | ||
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) | 42,300,000 | ||
Shares which remained available for future grants (in shares) | 9,300,000 | ||
Amended and Restated 2005 Equity Compensation Plan | |||
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) | 37,900,000 | 32,900,000 |
STOCKHOLDERS' EQUITY_ - Stock O
STOCKHOLDERS' EQUITY: - Stock Option Activity of Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | Jul. 02, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 |
Share-based compensation | ||||
Exercised (in dollars per share) | $ 6.13 | |||
Exercised | $ 6,666 | |||
Data Plus Math Corporation | ||||
Share-based compensation | ||||
Total fair value of the replacement stock options issued | $ 7,400 | |||
Expected dividend yield | 0.00% | |||
Risk free interest rate, minimum | 1.86% | |||
Risk free interest rate, maximum | 1.96% | |||
Expected volatility rate | 45.00% | |||
Number of option fully vested (in shares) | 48,619 | |||
Fair value of replacement stock options considered a component of purchase price | $ 2,300 | |||
Share-based payment arrangement, amount capitalized | $ 5,100 | |||
Data Plus Math Corporation | Minimum | ||||
Share-based compensation | ||||
Expected term | 7 years 3 months 29 days | |||
Data Plus Math Corporation | Maximum | ||||
Share-based compensation | ||||
Expected term | 9 years 6 months 18 days | |||
Stock options | ||||
Share-based compensation | ||||
Exercised | $ 6,700 | $ 35,300 | $ 6,500 | |
Stock options | Data Plus Math Corporation | ||||
Share-based compensation | ||||
Shares issued in period (in shares) | 162,481 | |||
Exercised (in dollars per share) | $ 1.64 |
STOCKHOLDERS' EQUITY_ Stock Opt
STOCKHOLDERS' EQUITY: Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Mar. 31, 2020USD ($)$ / sharesshares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 1,374,430 |
Options, grants in period (in shares) | shares | 162,481 |
Exercised (in shares) | shares | (177,459) |
Forfeited or cancelled (in shares) | shares | (8,794) |
Outstanding at end of the period (in shares) | shares | 1,350,658 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 14.81 |
Grants in period (in dollars per share) | $ / shares | 1.64 |
Exercised (in dollars per share) | $ / shares | 6.13 |
Forfeited or cancelled (in dollars per share) | $ / shares | 4.82 |
Outstanding at the end of the period (in dollars per share) | $ / shares | $ 14.43 |
Weighted average remaining contractual term | 3 years 7 months 6 days |
Exercised | $ | $ 6,666 |
Outstanding at the end of the period | $ | $ 24,972 |
Exercisable at the end of the period (in shares) | shares | 1,262,493 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 15.32 |
Exercisable at the end of the period | 3 years 3 months 18 days |
Exercisable at the end of the period | $ | $ 22,226 |
STOCKHOLDERS' EQUITY_ - Perform
STOCKHOLDERS' EQUITY: - Performance stock option unit activity (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Mar. 31, 2020USD ($)$ / sharesshares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 1,374,430 |
Forfeited or cancelled (in shares) | shares | (8,794) |
Outstanding at end of the period (in shares) | shares | 1,350,658 |
Exercisable at the end of the period (in shares) | shares | 1,262,493 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 14.81 |
Forfeited or cancelled (in dollars per share) | $ / shares | 4.82 |
Outstanding at the end of the period (in dollars per share) | $ / shares | 14.43 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 15.32 |
Weighted average remaining contractual term | 3 years 7 months 6 days |
Outstanding at the end of the period | $ | $ 24,972 |
Exercisable at the end of the period | $ | $ 22,226 |
Performance stock | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 130,154 |
Forfeited or cancelled (in shares) | shares | (130,154) |
Outstanding at end of the period (in shares) | shares | 0 |
Exercisable at the end of the period (in shares) | shares | 0 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 21.44 |
Forfeited or cancelled (in dollars per share) | $ / shares | 21.44 |
Outstanding at the end of the period (in dollars per share) | $ / shares | 0 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 0 |
Weighted average remaining contractual term | |
Outstanding at the end of the period | $ | $ 0 |
Exercisable at the end of the period | $ | $ 0 |
STOCKHOLDERS' EQUITY_ - AMS Res
STOCKHOLDERS' EQUITY: - AMS Restricted Stock Unit Accelerations (Details) - Time Vesting Restricted Stock Units $ in Millions | 12 Months Ended |
Mar. 31, 2019USD ($)shares | |
Share-based compensation | |
Granted (in shares) | shares | 1,187,344 |
Accelerated compensation cost | $ 54 |
Incremental compensation cost | 27 |
Accelerated original grant date fair value, compensation cost | $ 27 |
STOCKHOLDERS' EQUITY_ - Restric
STOCKHOLDERS' EQUITY: - Restricted Stock Unit Activity of Continuing Operations (Details) - Restricted stock units - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Time Based Vesting | |||
Share-based compensation | |||
Granted (in shares) | 1,697,506 | 1,939,746 | 1,386,448 |
Aggregate fair value of restricted stock units granted | $ 85.6 | ||
Vesting period | 4 years | ||
Grants in period, total fair value | $ 69.5 | $ 36.2 | |
Vested in period, fair value | $ 59.8 | $ 93.1 | $ 24.1 |
Time Based Vesting | Data Plus Math Corporation | |||
Share-based compensation | |||
Granted (in shares) | 155,346 | ||
Aggregate fair value of restricted stock units granted | $ 7.3 | ||
Vesting in four years | |||
Share-based compensation | |||
Granted (in shares) | 1,856,444 | 1,089,379 | |
Vesting period | 4 years | 4 years | |
Partial cliff vest tranche one | |||
Share-based compensation | |||
Granted (in shares) | 83,302 | 16,130 | |
Vesting period | 1 year | 1 year | |
Vesting in three years | |||
Share-based compensation | |||
Granted (in shares) | 106,571 | ||
Vesting period | 3 years | ||
Vesting over two years | |||
Share-based compensation | |||
Granted (in shares) | 174,368 | ||
Vesting period | 2 years |
STOCKHOLDERS' EQUITY_ - Time-ve
STOCKHOLDERS' EQUITY: - Time-vesting restricted stock unit activity (Details) - Restricted stock units - Time Based Vesting - $ / shares | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 3,054,750 | ||
Granted (in shares) | 1,697,506 | 1,939,746 | 1,386,448 |
Vested (in shares) | (963,532) | ||
Forfeited or cancelled (in shares) | (437,086) | ||
Outstanding at the end of the period (in shares) | 3,351,638 | 3,054,750 | |
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) | $ 30.91 | ||
Granted (in dollars per share) | 50.44 | ||
Vested (in dollars per share) | 27.73 | ||
Forfeited or cancelled (in dollars per share) | 38.82 | ||
Outstanding at the end of the period (in dollars per share) | $ 40.68 | $ 30.91 | |
Weighted average remaining contractual term (in years) | 2 years 6 months 3 days | 2 years 5 months 19 days |
STOCKHOLDERS' EQUITY_ - Perfo_2
STOCKHOLDERS' EQUITY: - Performance-based restricted stock units (Details) - Restricted stock units $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020USD ($)shares | Mar. 31, 2019USD ($)shares | Mar. 31, 2018USD ($)numberOfIncrementshares | |
Performance stock | |||
Share-based compensation | |||
Granted (in shares) | 202,818 | 534,438 | 389,065 |
Aggregate fair value of restricted stock units granted | $ | $ 12,300 | $ 22,000 | $ 10,100 |
Forfeited in period (in shares) | 51,560 | ||
The total fair value of performance-based restricted stock units | $ | $ 2,200 | $ 14,100 | |
Vesting Based On Relevant Performance Period For First Performance Plan At March 31, 2019 | |||
Share-based compensation | |||
Granted (in shares) | 186,539 | ||
Aggregate fair value of restricted stock units granted | $ | $ 5,800 | ||
Vesting Based On Relevant Performance Period For First Performance Plan At March 31, 2019 | Minimum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 25.00% | ||
Vesting Based On Relevant Performance Period For First Performance Plan At March 31, 2019 | Maximum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 200.00% | ||
Performance Shares Vesting Total Shareholder Return | |||
Share-based compensation | |||
Granted (in shares) | 60,844 | ||
Aggregate fair value of restricted stock units granted | $ | $ 4,400 | ||
Performance Shares Vesting Total Shareholder Return | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | ||
Performance Shares Vesting Total Shareholder Return | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 200.00% | ||
Vesting Based On Relevant Performance Period For Second Performance Plan At March 31, 2019 | |||
Share-based compensation | |||
Granted (in shares) | 347,899 | ||
Aggregate fair value of restricted stock units granted | $ | $ 16,200 | ||
Vesting Based On Relevant Performance Period For Second Performance Plan At March 31, 2019 | Minimum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 0.00% | ||
Vesting Based On Relevant Performance Period For Second Performance Plan At March 31, 2019 | Maximum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 200.00% | ||
Share-based Payment Arrangement, Tranche One | |||
Share-based compensation | |||
Granted (in shares) | 184,931 | ||
Aggregate fair value of restricted stock units granted | $ | $ 5,100 | ||
Vesting in period (in shares) | 61,330 | 580,133 | |
Share-based Payment Arrangement, Tranche One | Minimum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 0.00% | ||
Share-based Payment Arrangement, Tranche One | Maximum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 200.00% | ||
Vesting Based on Relevant Performance Period Over Two Periods at March 31, 2018 | |||
Share-based compensation | |||
Granted (in shares) | 87,184 | ||
Aggregate fair value of restricted stock units granted | $ | $ 2,100 | ||
Award vesting rights percentage | 50.20% | 50.20% | |
Forfeited in period (in shares) | 43,768 | 43,768 | |
Performance-based Restricted Stock Units Vesting In Three Equal Tranches | |||
Share-based compensation | |||
Granted (in shares) | 116,950 | ||
Aggregate fair value of restricted stock units granted | $ | $ 2,900 | ||
Number of tranches | numberOfIncrement | 3 | ||
Performance-based Restricted Stock Units Vesting In Three Equal Tranches | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | ||
Performance-based Restricted Stock Units Vesting In Three Equal Tranches | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 300.00% | ||
Vesting Based on Relevant Performance Period at March 31, 2019 | |||
Share-based compensation | |||
Award vesting rights percentage | 53.30% | 53.30% | |
Forfeited in period (in shares) | 17,562 | 17,562 | |
Vesting Based on Relevant Performance Period at March 31, 2020 | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | 0.00% | |
Vesting in period (in shares) | 18,275 | ||
Performance Shares Vesting In Three Equal Annual Increments | |||
Share-based compensation | |||
Granted (in shares) | 59,480 | ||
Vesting period | 3 years | ||
Performance Shares Vesting Under The Second Plan | |||
Share-based compensation | |||
Granted (in shares) | 141,974 | ||
Aggregate fair value of restricted stock units granted | $ | $ 7,900 | ||
Performance Shares Vesting Under The Second Plan | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | ||
Performance Shares Vesting Under The Second Plan | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 200.00% | ||
Performance Shares Based On Attainment Of Revenue Compound Annual Growth Rate Target | |||
Share-based compensation | |||
Granted (in shares) | 82,494 | ||
Vesting Based on Relevant Performance Period Over Two Periods at March 31 2020 [Member] | |||
Share-based compensation | |||
Award vesting rights percentage | 164.36% | ||
Forfeited in period (in shares) | 97,761 |
STOCKHOLDERS' EQUITY_ - Stock_2
STOCKHOLDERS' EQUITY: - Stock-based Compensation Expense Related to Discontinued Operations (Details) $ in Millions | 12 Months Ended | ||
Mar. 31, 2020USD ($)numberOfExerciseMultiple | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | |
Share-based compensation | |||
Stock-based compensation of discontinued operations | $ 0 | $ 62.8 | $ 10.3 |
Holdback expenses | $ 38.3 | ||
Consideration Holdback | |||
Share-based compensation | |||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | ||
Data Plus Math Corporation | |||
Share-based compensation | |||
Holdback consideration transferred | $ 24.7 | ||
Holdback expenses | $ 6.2 | ||
Data Plus Math Corporation | Consideration Holdback | |||
Share-based compensation | |||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | ||
Arbor | |||
Share-based compensation | |||
Holdback consideration transferred | $ 38.3 |
STOCKHOLDERS' EQUITY_ - PDP Ass
STOCKHOLDERS' EQUITY: - PDP Assumed Performance Plan and Qualified EPP (Details) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020USD ($)numberOfIncrementshares | Mar. 31, 2019USD ($)shares | Mar. 31, 2018USD ($)shares | |
Share-based compensation | |||
Number of increments | numberOfIncrement | 4 | ||
Other Accrued Liabilities, Current | $ 68,991 | $ 40,916 | |
Employee Stock [Member] | |||
Share-based compensation | |||
Shares which remained available for future grants (in shares) | shares | 500,000 | ||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares | 264,996 | 264,996 | 264,996 |
Share-based compensation expense | $ 500 | $ 400 | $ 200 |
Pacific Data Partners LLC | |||
Share-based compensation | |||
Annual payout, percentage | 90.00% | ||
Performance compensation plan, trading days | 20 days | ||
End of period annual payout, percentage | 10.00% | ||
Non-cash stock-based compensation expense | $ 37,800 | ||
Other Accrued Liabilities, Current | $ 16,300 | ||
Pacific Data Partners LLC | Time Vesting Restricted Stock Units | |||
Share-based compensation | |||
Debt conversion, converted instrument, rate | 100.00% | ||
Number of increments | numberOfIncrement | 3 | ||
Incremental compensation cost | $ 600 | ||
Pacific Data Partners LLC | Common Stock | |||
Share-based compensation | |||
Performance payout | $ 19,700 | ||
Deferred compensation arrangement, shares issued (in shares) | shares | 465,389 | ||
Deferred compensation arrangement, liability-classified portion, shares issued (in shares) | shares | 393,306 |
STOCKHOLDERS' EQUITY_ - Perfo_3
STOCKHOLDERS' EQUITY: - Performance-based restricted stock units (Details) - Restricted stock units $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020USD ($)shares | Mar. 31, 2019USD ($)shares | Mar. 31, 2018USD ($)numberOfIncrementshares | |
Performance stock | |||
Share-based compensation | |||
Granted (in shares) | 202,818 | 534,438 | 389,065 |
Aggregate fair value of restricted stock units granted | $ | $ 12,300 | $ 22,000 | $ 10,100 |
Forfeited in period (in shares) | 51,560 | ||
The total fair value of performance-based restricted stock units | $ | $ 2,200 | $ 14,100 | |
Performance Shares Vesting Total Shareholder Return | |||
Share-based compensation | |||
Granted (in shares) | 60,844 | ||
Aggregate fair value of restricted stock units granted | $ | $ 4,400 | ||
Performance Shares Vesting Total Shareholder Return | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | ||
Performance Shares Vesting Total Shareholder Return | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 200.00% | ||
Vesting Based On Relevant Performance Period For First Performance Plan At March 31, 2019 | |||
Share-based compensation | |||
Granted (in shares) | 186,539 | ||
Aggregate fair value of restricted stock units granted | $ | $ 5,800 | ||
Vesting Based On Relevant Performance Period For First Performance Plan At March 31, 2019 | Minimum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 25.00% | ||
Vesting Based On Relevant Performance Period For First Performance Plan At March 31, 2019 | Maximum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 200.00% | ||
Vesting Based On Relevant Performance Period For Second Performance Plan At March 31, 2019 | |||
Share-based compensation | |||
Granted (in shares) | 347,899 | ||
Aggregate fair value of restricted stock units granted | $ | $ 16,200 | ||
Vesting Based On Relevant Performance Period For Second Performance Plan At March 31, 2019 | Minimum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 0.00% | ||
Vesting Based On Relevant Performance Period For Second Performance Plan At March 31, 2019 | Maximum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 200.00% | ||
Share-based Payment Arrangement, Tranche One | |||
Share-based compensation | |||
Granted (in shares) | 184,931 | ||
Aggregate fair value of restricted stock units granted | $ | $ 5,100 | ||
Vesting in period (in shares) | 61,330 | 580,133 | |
Share-based Payment Arrangement, Tranche One | Minimum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 0.00% | ||
Share-based Payment Arrangement, Tranche One | Maximum | |||
Share-based compensation | |||
Equity instrument other than options, percentage of vesting | 200.00% | ||
Vesting Based on Relevant Performance Period Over Two Periods at March 31, 2018 | |||
Share-based compensation | |||
Granted (in shares) | 87,184 | ||
Aggregate fair value of restricted stock units granted | $ | $ 2,100 | ||
Award vesting rights percentage | 50.20% | 50.20% | |
Forfeited in period (in shares) | 43,768 | 43,768 | |
Performance-based Restricted Stock Units Vesting In Three Equal Tranches | |||
Share-based compensation | |||
Granted (in shares) | 116,950 | ||
Aggregate fair value of restricted stock units granted | $ | $ 2,900 | ||
Number of tranches | numberOfIncrement | 3 | ||
Performance-based Restricted Stock Units Vesting In Three Equal Tranches | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | ||
Performance-based Restricted Stock Units Vesting In Three Equal Tranches | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 300.00% | ||
Vesting Based on Relevant Performance Period at March 31, 2019 | |||
Share-based compensation | |||
Award vesting rights percentage | 53.30% | 53.30% | |
Forfeited in period (in shares) | 17,562 | 17,562 | |
Vesting Based on Relevant Performance Period at March 31, 2020 | |||
Share-based compensation | |||
Award vesting rights percentage | 0.00% | 0.00% | |
Vesting in period (in shares) | 18,275 | ||
Performance Shares Vesting In Three Equal Annual Increments | |||
Share-based compensation | |||
Granted (in shares) | 59,480 | ||
Vesting period | 3 years |
STOCKHOLDERS' EQUITY_ - Non-ves
STOCKHOLDERS' EQUITY: - Non-vested performance-based restricted stock unit activity (Details) - Restricted stock units - Performance stock - $ / shares | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Non-vested restricted stock unit activity | ||||
Outstanding at the beginning of the period (in shares) | 394,188 | 394,188 | ||
Granted (in shares) | 202,818 | 534,438 | 389,065 | |
Forfeited or cancelled (in shares) | (51,560) | |||
Outstanding at the end of the period (in shares) | 545,446 | 394,188 | ||
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) | $ 43.88 | $ 43.88 | ||
Granted (in dollars per share) | 60.65 | |||
Forfeited or cancelled (in dollars per share) | 34.42 | |||
Outstanding at the end of the period (in dollars per share) | $ 51.01 | $ 43.88 | ||
Weighted average remaining contractual term (in years) | 3 years 2 months 23 days | 2 years 2 months 26 days |
STOCKHOLDERS' EQUITY_ - AOCI (D
STOCKHOLDERS' EQUITY: - AOCI (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Equity [Abstract] | ||
Accumulated foreign currency translation adjustments | $ 5.7 | $ 7.8 |
INCOME TAX_ - Allocated Income
INCOME TAX: - Allocated Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Continuing operations | $ (40,276) | $ (45,409) | $ (65,723) |
Discontinued operations | 207 | 470,346 | 42,952 |
Total | $ (40,069) | $ 424,937 | $ (22,771) |
INCOME TAX_ - Income tax expens
INCOME TAX: - Income tax expense (benefit) attributable to earnings (loss) from continuing operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Current: | |||
U.S. Federal | $ (33,715) | $ (39,534) | $ (33,626) |
Non-U.S. | 146 | 323 | 115 |
State | 171 | (16,092) | (4,414) |
Total current income tax expense (benefit) | (33,398) | (55,303) | (37,925) |
Deferred: | |||
U.S. Federal | (5,103) | 1,245 | (26,884) |
Non-U.S. | (1,006) | 149 | 21 |
State | (769) | 8,500 | (935) |
Total deferred income tax expense (benefit) | (6,878) | 9,894 | (27,798) |
Total | $ (40,276) | $ (45,409) | $ (65,723) |
INCOME TAXES_ - Earnings (loss)
INCOME TAXES: - Earnings (loss) before income tax attributable to U.S. and non-U.S. continuing operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
U.S. | $ (160,457) | $ (174,867) | $ (132,552) |
Non-U.S. | (5,080) | (4,489) | (470) |
Loss from continuing operations before income taxes | $ (165,537) | $ (179,356) | $ (133,022) |
INCOME TAXES_ - Reconciliation
INCOME TAXES: - Reconciliation of Expected Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Computed expected income tax benefit | $ (34,763) | $ (37,665) | $ (41,967) |
Income Tax Expense (Benefit) Continuing Operations Income Tax Reconciliation Increase (Decrease) [Abstract] | |||
State income taxes, net of federal benefit | (473) | (5,998) | (3,329) |
Research and other tax credits | (1,517) | (3,141) | (1,229) |
Effect of federal rate change on deferred taxes | 0 | 0 | (24,565) |
Nondeductible expenses | 838 | 426 | 431 |
Stock-based compensation | 5,025 | (5,350) | 4,452 |
Non-U.S. subsidiaries taxed at other than 35% | 230 | 1,343 | 332 |
Adjustment to valuation allowances | (2,245) | 5,204 | 0 |
Net operating loss carryback taxed at other rates | (7,360) | 0 | 0 |
Other, net | (11) | (228) | 152 |
Total | $ (40,276) | $ (45,409) | $ (65,723) |
INCOME TAXES_ - Reconciliatio_2
INCOME TAXES: - Reconciliation of deferred tax assets/liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Deferred tax assets: | ||
Accrued expenses | $ 3,978 | $ 3,347 |
Deferred revenue | 16 | 19 |
Lease liabilities | 4,939 | 0 |
Net operating loss carryforwards | 33,516 | 29,032 |
Stock-based compensation | 8,076 | 10,770 |
Nonqualified deferred compensation | 2,815 | 3,147 |
Other | 4,018 | 3,102 |
Total deferred tax assets | 57,358 | 49,417 |
Less valuation allowance | (32,971) | (34,356) |
Net deferred tax assets | 24,387 | 15,061 |
Deferred tax liabilities: | ||
Prepaid expenses | (2,239) | (1,222) |
Capitalized software costs | (244) | (636) |
Property and equipment | (1,498) | (440) |
Right-of-use assets | (4,147) | 0 |
Intangible assets | (9,605) | (5,631) |
Deferred commissions | (3,817) | (2,586) |
Accrued expenses | (2,189) | (4,550) |
Total deferred tax liabilities | (23,739) | (15,065) |
Net deferred tax assets (liabilities) | $ 648 | |
Net deferred tax assets (liabilities) | $ (4) |
INCOME TAXES - Unrecognized tax
INCOME TAXES - Unrecognized tax benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of period | $ 19,600 | $ 15,415 | $ 12,870 |
Increases related to prior year tax positions | 2,458 | 325 | 1,134 |
Decreases related to prior year tax positions | (1,048) | (292) | (208) |
Increases related to current year tax positions | 2,433 | 5,483 | 3,172 |
Increases related to current year tax positions | (43) | (1,331) | (1,553) |
Balance at end of period | $ 23,400 | $ 19,600 | $ 15,415 |
INCOME TAXES_ - Narrative (Deta
INCOME TAXES: - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2020 | Apr. 01, 2020 | Mar. 31, 2019 | |
Income Tax Examination [Line Items] | |||
Deferred tax assets, valuation allowance | $ 32,971 | $ 34,356 | |
Gross unrecognized tax benefits that would impact effective tax rate | 23,400 | ||
Accrued interest and penalties related to tax positions on tax returns | 2,500 | ||
Increase in accrued interest and penalties related to tax positions on tax returns | 2,100 | ||
Scenario, Forecast | |||
Income Tax Examination [Line Items] | |||
Income tax examination, liability (refund) adjustment from settlement with taxing authority | $ (32,000) | ||
Internal Revenue Service (IRS) | |||
Income Tax Examination [Line Items] | |||
Operating loss carryforwards | 21,700 | ||
Federal tax authority | |||
Income Tax Examination [Line Items] | |||
State credit carryforwards that will not expire | 11,500 | ||
State and Local Jurisdiction | |||
Income Tax Examination [Line Items] | |||
Operating loss carryforwards | 70,000 | ||
State credit carryforwards that will not expire | 9,500 | ||
Tax credit carryforward, amount | 2,100 | ||
Foreign Tax Authority | |||
Income Tax Examination [Line Items] | |||
Operating loss carryforwards | 99,900 | ||
Deferred tax assets, valuation allowance | 26,600 | ||
Indefinite Tax Year | Foreign Tax Authority | |||
Income Tax Examination [Line Items] | |||
Operating loss carryforwards | $ 93,300 |
RETIREMENT PLANS_ - (Details)
RETIREMENT PLANS: - (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 |
Defined Contribution Plan Disclosure [Line Items] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | 50.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | 6.00% | ||
Defined Contribution Plan, Cost | $ 7,900 | $ 2,900 | $ 1,900 | |
Liabilities of non-qualified retirement plan | 11,623 | 14,970 | ||
Supplemental Non-Qualified Deferred Compensation Plan [Member] | ||||
Defined Contribution Plan Disclosure [Line Items] | ||||
Assets Of Non-Qualified Retirement Plan | $ 11,600 | |||
Liabilities of non-qualified retirement plan | $ 15,000 |
FOREIGN OPERATIONS_ (Details)
FOREIGN OPERATIONS: (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 105,701 | $ 102,217 | $ 90,143 | $ 82,511 | $ 78,316 | $ 80,021 | $ 64,812 | $ 62,471 | $ 380,572 | $ 285,620 | $ 220,101 |
Long-Lived Assets | 405,818 | 280,835 | 405,818 | 280,835 | |||||||
United States | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 354,437 | 262,135 | 197,613 | ||||||||
Long-Lived Assets | 393,564 | 276,189 | 393,564 | 276,189 | |||||||
Group Of Foreign Countries [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 26,135 | 23,485 | 22,488 | ||||||||
Long-Lived Assets | 12,254 | 4,646 | 12,254 | 4,646 | |||||||
Europe | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 20,789 | 18,566 | 18,397 | ||||||||
Long-Lived Assets | 8,616 | 757 | 8,616 | 757 | |||||||
Asia-Pacific | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 5,346 | 4,919 | $ 4,091 | ||||||||
Long-Lived Assets | $ 3,638 | $ 3,889 | $ 3,638 | $ 3,889 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Mar. 31, 2019 |
Fair value of assets and liabilities | ||
Other current assets | $ 32,666 | $ 44,150 |
Fair value measurements on recurring basis | Total | ||
Fair value of assets and liabilities | ||
Other current assets | 11,623 | |
Total assets | 11,623 | |
Fair value measurements on recurring basis | Total | Level 1 | ||
Fair value of assets and liabilities | ||
Other current assets | 11,623 | |
Total assets | 11,623 | |
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 |
UNAUDITED SELECTED QUARTERLY _3
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA: (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues | $ 105,701 | $ 102,217 | $ 90,143 | $ 82,511 | $ 78,316 | $ 80,021 | $ 64,812 | $ 62,471 | $ 380,572 | $ 285,620 | $ 220,101 |
Gross profit | 68,849 | 64,251 | 48,683 | 46,085 | 40,556 | 45,183 | 40,346 | 38,817 | 227,868 | 164,902 | 123,705 |
Net earnings (loss) from continuing operations | (4,879) | (38,040) | (40,202) | (42,140) | (49,688) | (15,261) | (41,180) | (27,818) | (125,261) | (133,947) | (67,299) |
Earnings from discontinued operations, net of tax | 750 | 0 | 0 | 0 | 4,227 | 1,071,661 | 61,803 | 24,803 | 750 | 1,162,494 | 90,779 |
Net earnings (loss) | $ (4,129) | $ (38,040) | $ (40,202) | $ (42,140) | $ (45,461) | $ 1,056,400 | $ 20,623 | $ (3,015) | $ (124,511) | $ 1,028,547 | $ 23,480 |
Basic earnings (loss) per share: | |||||||||||
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (0.07) | $ (0.56) | $ (0.59) | $ (0.61) | $ (0.73) | $ (0.20) | $ (0.53) | $ (0.36) | $ (1.85) | $ (1.79) | $ (0.85) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0.01 | 0 | 0 | 0 | 0.06 | 13.85 | 0.80 | 0.32 | 0.01 | 15.50 | 1.15 |
Basic earnings (loss) per share (in USD per share) | (0.06) | (0.56) | (0.59) | (0.61) | (0.67) | 13.65 | 0.27 | (0.04) | (1.84) | 13.71 | 0.30 |
Diluted earnings (loss) per share: | |||||||||||
Diluted earnings (loss) per share from continuing operations (in dollars per share) | (0.07) | (0.56) | (0.59) | (0.61) | (0.73) | (0.20) | (0.53) | (0.36) | (1.85) | (1.79) | (0.85) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0.01 | 0 | 0 | 0 | 0.06 | 13.85 | 0.80 | 0.32 | 0.01 | 15.50 | 1.15 |
Diluted earnings (loss) per share (in USD per share) | $ (0.06) | $ (0.56) | $ (0.59) | $ (0.61) | $ (0.67) | $ 13.65 | $ 0.27 | $ (0.04) | $ (1.84) | $ 13.71 | $ 0.30 |
Uncategorized Items - ramp-2020
Label | Element | Value |
Cumulative Effect on Retained Earnings, Net of Tax | us-gaap_CumulativeEffectOnRetainedEarningsNetOfTax1 | $ 12,727,000 |
Cumulative Effect on Retained Earnings, Net of Tax | us-gaap_CumulativeEffectOnRetainedEarningsNetOfTax1 | 2,626,000 |
Additional Paid-in Capital [Member] | ||
Cumulative Effect on Retained Earnings, Net of Tax | us-gaap_CumulativeEffectOnRetainedEarningsNetOfTax1 | 384,000 |
Retained Earnings [Member] | ||
Cumulative Effect on Retained Earnings, Net of Tax | us-gaap_CumulativeEffectOnRetainedEarningsNetOfTax1 | 12,727,000 |
Cumulative Effect on Retained Earnings, Net of Tax | us-gaap_CumulativeEffectOnRetainedEarningsNetOfTax1 | $ 2,242,000 |