Cover page
Cover page - shares | 3 Months Ended | |
Jun. 30, 2020 | Aug. 05, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 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, $.10 Par Value | |
Trading Symbol | RAMP | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 65,877,515 | |
Entity Central Index Key | 0000733269 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 649,895 | $ 717,811 |
Restricted cash | 14,815 | 14,815 |
Trade accounts receivable, net | 96,472 | 92,761 |
Refundable income taxes | 39,776 | 38,340 |
Other current assets | 24,314 | 32,666 |
Total current assets | 825,272 | 896,393 |
Property and equipment, net of accumulated depreciation and amortization | 17,108 | 19,321 |
Intangible assets, net | 39,915 | 45,200 |
Goodwill | 298,389 | 297,796 |
Deferred commissions, net | 17,695 | 16,014 |
Other assets, net | 35,552 | 27,165 |
Total assets | 1,233,931 | 1,301,889 |
Current liabilities: | ||
Trade accounts payable | 38,380 | 42,204 |
Accrued payroll and related expenses | 16,727 | 28,791 |
Other accrued expenses | 50,024 | 68,991 |
Acquisition escrow payable | 14,815 | 14,815 |
Deferred revenue | 5,938 | 6,581 |
Total current liabilities | 125,884 | 161,382 |
Other liabilities | 49,758 | 52,995 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 14,525 | 14,394 |
Additional paid-in capital | 1,532,481 | 1,496,565 |
Retained earnings | 1,523,366 | 1,545,094 |
Accumulated other comprehensive income | 6,342 | 5,745 |
Treasury stock, at cost | (2,018,425) | (1,974,286) |
Total stockholders' equity | 1,058,289 | 1,087,512 |
TOTAL LIABILITIES AND EQUITY | $ 1,233,931 | $ 1,301,889 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Income Statement [Abstract] | ||
Revenues | $ 99,437 | $ 82,511 |
Cost of revenue | 34,465 | 36,426 |
Gross profit | 64,972 | 46,085 |
Operating expenses: | ||
Research and development | 26,989 | 23,722 |
Sales and marketing | 38,627 | 43,144 |
General and administrative | 23,368 | 25,318 |
Gains, losses and other items, net | 1,995 | 2,276 |
Total operating expenses | 90,979 | 94,460 |
Loss from operations | (26,007) | (48,375) |
Total other income | 463 | 5,882 |
Loss from operations before income taxes | (25,544) | (42,493) |
Income tax benefit | (3,816) | (353) |
Net loss | $ (21,728) | $ (42,140) |
Basic loss per share | ||
Basic earnings (loss) per share (in USD per share) | $ (0.33) | $ (0.61) |
Diluted earnings (loss) per share: | ||
Diluted earnings (loss) per share (in USD per share) | $ (0.33) | $ (0.61) |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Net Loss | $ (21,728) | $ (42,140) |
Other comprehensive income (loss): | ||
Change in foreign currency translation adjustment | 597 | (467) |
Comprehensive loss | $ (21,131) | $ (42,607) |
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, 2019 | 141,865,888 | (73,167,892) | ||||
Balance, beginning 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) | 46,681 | (221,195) | ||||
Employee stock awards, benefit plans and other issuances | (11,033) | $ 4 | 1,056 | $ (12,093) | ||
Non-cash stock-based compensation (in shares) | 51,362 | |||||
Non-cash stock-based compensation | 15,064 | $ 5 | 15,059 | |||
Restricted stock units vested (in shares) | 487,632 | |||||
Restricted stock units vested | 0 | $ 49 | (49) | |||
Acquisition of treasury stock (in shares) | (412,200) | |||||
Acquisition of treasury stock | (20,099) | $ (20,099) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (467) | (467) | ||||
Net loss | (42,140) | (42,140) | ||||
Balance, end of the period (in shares) at Jun. 30, 2019 | 142,451,563 | (73,801,287) | ||||
Balance, end of the period at Jun. 30, 2019 | 1,272,157 | $ 14,245 | 1,422,879 | 1,627,465 | 7,334 | $ (1,799,766) |
Balance, beginning of the period (in shares) at Mar. 31, 2020 | 143,938,753 | (78,081,314) | ||||
Balance, beginning of the period at Mar. 31, 2020 | 1,087,512 | $ 14,394 | 1,496,565 | 1,545,094 | 5,745 | $ (1,974,286) |
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 67,790 | (40,357) | ||||
Employee stock awards, benefit plans and other issuances | (690) | $ 7 | 1,130 | $ (1,827) | ||
Non-cash stock-based compensation (in shares) | 7,945 | |||||
Non-cash stock-based compensation | 10,469 | $ 1 | 10,468 | |||
Restricted stock units vested (in shares) | 453,632 | |||||
Restricted stock units vested | 0 | $ 45 | (45) | |||
Liability-classified restricted stock units vested (in shares) | 780,400 | |||||
Liability-classified restricted stock units vested | 24,441 | $ 78 | 24,363 | |||
Acquisition of treasury stock (in shares) | (1,321,666) | |||||
Acquisition of treasury stock | (42,312) | $ (42,312) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | 597 | 597 | ||||
Net loss | (21,728) | (21,728) | ||||
Balance, end of the period (in shares) at Jun. 30, 2020 | 145,248,520 | (79,443,337) | ||||
Balance, end of the period at Jun. 30, 2020 | $ 1,058,289 | $ 14,525 | $ 1,532,481 | $ 1,523,366 | $ 6,342 | $ (2,018,425) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (21,728) | $ (42,140) |
Non-cash operating activities: | ||
Depreciation and amortization | 8,054 | 8,877 |
Loss on disposal or impairment of assets | 2 | 85 |
Provision for doubtful accounts | 1,330 | 962 |
Deferred income taxes | (672) | 7 |
Non-cash stock compensation expense | 16,485 | 18,630 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (5,860) | (3,451) |
Deferred commissions | (1,681) | 174 |
Other assets | 4,904 | 3,600 |
Accounts payable and other liabilities | (22,684) | (188) |
Income taxes, net | (1,105) | (863) |
Deferred revenue | (657) | (1,101) |
Net cash used in operating activities | (23,612) | (15,408) |
Cash flows from investing activities: | ||
Capital expenditures | (832) | (4,888) |
Cash paid in acquisitions, net of cash received | 0 | (4,479) |
Payments for investments | (667) | 0 |
Net cash used in investing activities | (1,499) | (9,367) |
Cash flows from financing activities: | ||
Proceeds related to the issuance of common stock under stock and employee benefit plans | 1,137 | 1,060 |
Shares repurchased for tax withholdings upon vesting of stock-based awards | (1,827) | (12,093) |
Acquisition of treasury stock | (42,312) | (20,099) |
Net cash used in financing activities | (43,002) | (31,132) |
Effect of exchange rate changes on cash | 197 | (89) |
Net change in cash, cash equivalents and restricted cash | (67,916) | (55,996) |
Cash, cash equivalents and restricted cash at beginning of period | 732,626 | 1,061,473 |
Cash, cash equivalents and restricted cash at end of period | 664,710 | 1,005,477 |
Supplemental cash flow information: | ||
Cash paid (received) for income taxes | $ (2,041) | $ 110 |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | 3 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: These condensed consolidated financial statements have been prepared by LiveRamp Holdings, Inc. ("Registrant", "LiveRamp", "we", "us" or the "Company"), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Registrant’s management, all adjustments necessary for a fair presentation of the results for the periods included have been made, and the disclosures are adequate to make the information presented not misleading. All such adjustments are of a normal recurring nature. Certain note information has been omitted because it has not changed significantly from that reflected in Notes 1 through 18 of the Notes to Consolidated Financial Statements filed as part of Item 8 of the Registrant’s annual report on Form 10-K for the fiscal year ended March 31, 2020 (“2020 Annual Report”), as filed with the SEC on May 26, 2020. This quarterly report and the accompanying condensed consolidated financial statements should be read in connection with the 2020 Annual Report. The financial information contained in this quarterly report is not necessarily indicative of the results to be expected for any other period or for the full fiscal year ending March 31, 2021. Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). Actual results could differ from those estimates. Certain of the accounting policies used in the preparation of these condensed consolidated financial statements are complex and require management to make judgments and/or significant estimates regarding amounts reported or disclosed in these financial statements. Additionally, the application of certain of these accounting policies is governed by complex accounting principles and their interpretation. A discussion of the Company’s significant accounting principles and their application is included in Note 1 of the Notes to Consolidated Financial Statements and in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, of the Company’s 2020 Annual Report. Accounting pronouncements adopted during the current year Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") 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 that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software) and hosting arrangements that include an internal use software license). Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. April 1, 2020 The effect of prospectively adopting ASU 2018-15 on our condensed consolidated financial statements and related disclosures was not material. ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework ("ASU 2018-13") ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. April 1, 2020 The effect of adopting ASU 2018-15 on our condensed consolidated financial statements and related disclosures was not material. ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326) ("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 expected credit losses on accounts receivable and other financial instruments by using all practical and relevant information. April 1, 2020 The effect of adopting ASU 2016-13 on our condensed consolidated financial statements and related disclosures was not material. Recent accounting pronouncements not yet adopted Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2019-12 I ncome Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12") ASU 2019-12 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 2022 for the Company), including interim periods within those fiscal years. April 1, 2021 The Company does not expect the adoption of this guidance will have a material impact on our condensed consolidated financial statements. |
LOSS PER SHARE AND STOCKHOLDERS
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: | 3 Months Ended |
Jun. 30, 2020 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: | LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Loss Per Share A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): For the three months ended June 30, 2020 2019 Basic loss per share: Net loss $ (21,728) $ (42,140) Basic weighted-average shares outstanding 65,570 68,906 Basic loss per share $ (0.33) $ (0.61) Diluted loss per share: Basic weighted-average shares outstanding 65,570 68,906 Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (1) — — Diluted weighted-average shares outstanding 65,570 68,906 Diluted loss per share $ (0.33) $ (0.61) (1) The number of common stock options and restricted stock units as computed under the treasury stock method that would have otherwise been dilutive but are excluded from the table above because their effect would have been anti-dilutive due to the net loss position of the Company were 1.8 million and 2.8 million in the three months ended June 30, 2020 and 2019, respectively. Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because their effect would have been anti-dilutive (other than due to the net loss position of the Company) are shown below (shares in thousands): For the three months ended June 30, 2020 2019 Number of shares underlying restricted stock units 2,022 431 Stockholders’ Equity 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 three months ended June 30, 2020, the Company repurchased 1.3 million shares of its common stock for $42.3 million under the stock repurchase program. Through June 30, 2020, the Company had repurchased a total of 28.2 million shares of its stock for $673.6 million under the stock repurchase program, leaving remaining capacity of $326.4 million. Accumulated other comprehensive income balances of $6.3 million and $5.7 million at June 30, 2020 and March 31, 2020, respectively, reflect accumulated foreign currency translation adjustments. |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS: | 3 Months Ended |
Jun. 30, 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). For the three months ended June 30, Primary Geographical Markets 2020 2019 United States $ 93,382 $ 76,541 Europe 4,870 4,747 APAC 1,185 1,223 $ 99,437 $ 82,511 Major Offerings/Services Subscription $ 82,915 $ 68,326 Marketplace and Other 16,522 14,185 $ 99,437 $ 82,511 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 $339.1 million as of June 30, 2020. Additionally, the amount to be recognized over the next twelve months was $222.7 million. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2024. |
LEASES_
LEASES: | 3 Months Ended |
Jun. 30, 2020 | |
Leases [Abstract] | |
Leases | LEASES Right-of-use asset and lease liability balances consist of the following (dollars in millions): June 30, 2020 March 31, 2020 Right-of-use assets included in other assets, net $ 15.9 $ 17.8 Short-term lease liabilities included in other accrued expenses $ 9.7 $ 9.6 Long-term lease liabilities included in other liabilities $ 9.4 $ 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 $3.0 million and $2.3 million for the three months ended June 30, 2020 and 2019, respectively. Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of June 30, 2020 are as follows (dollars in thousands): Amount Fiscal 2021 $ 8,098 Fiscal 2022 9,078 Fiscal 2023 2,681 Fiscal 2024 769 Fiscal 2025 66 Thereafter — Total undiscounted lease commitments 20,692 Less: Interest and short-term leases 1,645 Total discounted operating lease liabilities $ 19,047 Future minimum payments as of June 30, 2020 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 12) are as follows (dollars in thousands): Fiscal 2021: $1,924; Fiscal 2022: $2,611; Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Thereafter: $1,799. |
STOCK-BASED COMPENSATION_
STOCK-BASED COMPENSATION: | 3 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
STOCK-BASED COMPENSATION: | STOCK-BASED COMPENSATION: 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 June 30, 2020, there were a total of 7.3 million shares available for future grants under the plans. Stock-based Compensation Expense The Company's stock-based compensation activity for the three months ended June 30, 2020, by award type, was (dollars in millions): For the three months ended June 30, 2020 2019 Stock options $ 0.8 $ 0.7 Restricted stock units 8.9 11.1 Arbor acquisition consideration holdback — 2.6 DPM acquisition consideration holdback 1.9 — PDP assumed performance plan 4.6 3.9 Other non-employee stock-based compensation 0.3 0.3 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 16.5 18.6 Less expense related to liability-based equity awards (6.0) (3.5) Total non-cash stock-based compensation included in the condensed consolidated statements of equity $ 10.5 $ 15.1 The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in millions): For the three months ended June 30, 2020 2019 Cost of revenue $ 0.8 $ 0.8 Research and development 5.9 4.0 Sales and marketing 7.1 8.9 General and administrative 2.7 4.9 Total non-cash stock-based compensation included in the condensed consolidated statements of operations $ 16.5 $ 18.6 The following table provides the expected future expense for all of the Company's outstanding equity awards at June 30, 2020, by award type. The amount for 2021 represents the remaining nine months ending March 31, 2021. All other periods represent fiscal years ending March 31 (dollars in millions) For the years ending, 2021 2022 2023 2024 2025 Total Stock options $ 1.4 $ 1.1 $ 0.3 $ — $ — $ 2.8 Restricted stock units 49.4 56.4 43.0 20.9 2.0 171.7 DPM acquisition consideration holdback 6.1 8.1 2.0 — — 16.2 PDP assumed performance plan 13.8 9.2 — — — 23.0 $ 70.7 $ 74.8 $ 45.3 $ 20.9 $ 2.0 $ 213.7 Stock Options Activity Stock option activity for the three months ended June 30, 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, 2020 1,350,658 $ 14.43 Exercised (45,227) $ 3.70 $ 1,818 Forfeited or canceled (4,228) $ 1.59 Outstanding at June 30, 2020 1,301,203 $ 14.85 3.3 $ 35,945 Exercisable at June 30, 2020 1,236,810 $ 15.52 3.0 $ 33,329 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 June 30, 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 June 30, 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 — $ 9.99 188,424 5.1 years $ 1.58 124,031 $ 1.44 $ 10.00 — $ 19.99 709,672 2.3 years $ 14.69 709,672 $ 14.69 $ 20.00 — $ 24.99 403,107 4.0 years $ 21.31 403,107 $ 21.31 1,301,203 3.3 years $ 14.85 1,236,810 $ 15.52 Restricted Stock Unit Activity Time-vesting restricted stock units ("RSUs") - During the three months ended June 30, 2020, the Company granted RSUs covering 1,604,733 shares of common stock and having a fair value at the date of grant of $60.7 million. The RSUs 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. RSU activity for the three months ended June 30, 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, 2020 3,351,638 $ 40.68 2.51 Granted 1,604,733 $ 37.82 Vested (395,982) $ 42.04 Forfeited or canceled (102,872) $ 41.90 Outstanding at June 30, 2020 4,457,517 $ 39.50 2.85 The total fair value of RSUs vested during the three months ended June 30, 2020 was $18.1 million 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 ("PSUs") - Fiscal 2021 plans: During the three months ended June 30, 2020, the Company granted PSUs covering 246,524 shares of common stock having a fair value at the date of grant of $10.7 million. The grants were made under two separate performance plans. Under the first performance plan, units covering 73,950 shares of common stock were granted having a fair value at the date of grant of $4.2 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 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, 2020 to March 31, 2023. Under the second performance plan, units covering 172,574 shares of common stock were granted having a fair value at the date of grant of $6.5 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 and continuous employment through the vesting date. The units may vest in a number of shares from 0% to 200% of the award, based on the attainment of trailing twelve-month revenue growth and EBITDA margin targets for the period from April 1, 2020 to March 31, 2023. Performance will be measured and vesting evaluated on a quarterly basis beginning with the period ending June 30, 2021 and continuing through the end of the performance period. To the extent that shares are earned in a given quarter, 50% vest immediately and 50% vest on the one-year anniversary of attainment, except that all earned but unvested shares will vest fully at the end of the measurement period. Fiscal 2020 plans : During the three months ended June 30, 2020, the compensation committee approved the final performance attainment on a fiscal 2020 performance plan covering 59,480 PSUs. The awards reached maturity of the relevant performance period at March 31, 2020, and final attainment of these awards was determined by the compensation committee during the quarter ended June 30, 2020 to be 164% resulting in an additional award of 38,063 units (for a total earned amount of 97,543 units). Of the earned amount, one-third vested immediately, while the remaining two-thirds will vest in equal increments in first quarters of fiscal years 2021 and 2022. Fiscal 2019 plans : Subsequent to June 30, 2020, the fiscal 2019 performance plan covering 313,771 units reached its initial quarterly measurement date. Subject to compensation committee approval of attainment, 178,159 units (based on 57% attainment) are expected to be released; half in the fiscal quarter ending September 30, 2020, and half one year later. PSU activity for the three months ended June 30, 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, 2020 545,446 $ 51.01 2.24 Granted 246,524 $ 43.40 Additional earned performance shares 38,063 $ 55.48 Vested (32,514) $ 55.48 Forfeited or canceled (28,857) $ 32.62 Outstanding at June 30, 2020 768,662 $ 49.29 2.28 The total fair value of PSUs vested in the three months ended June 30, 2020 was $1.2 million and is measured as the quoted market price of the Company’s common stock on the vesting date for the number of shares vested. Consideration Holdback As part of the Company's fiscal 2020 acquisition of Data Plus Math ("DPM"), $24.4 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"). Each Holdback Agreement specifies that the consideration holdback will vest in three equal annual increments on the anniversary of the closing date (which date may be changed by the board of directors to an earlier 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 June 30, 2020, the Company had recognized a total of $8.1 million related to the DPM consideration holdback. At June 30, 2020, the recognized, but unpaid, balance related to the DPM consideration holdback in other accrued expenses in the condensed consolidated balance sheet was zero, as the first annual settlement occurred at the end of the current fiscal quarter. Pacific Data Partners ("PDP") Assumed Performance Plan In connection with the fiscal 2018 acquisition of PDP, the Company assumed the outstanding performance compensation plan under the PDP 2018 Equity Compensation Plan ("PDP PSU plan"). During fiscal 2020, the Company converted the outstanding PDP PSU plan to a time-vesting restricted stock plan ("PDP RSU plan"). Through June 30, 2020, the Company has recognized a total of $42.3 million related to the PDP non-cash stock-based compensation plan. At June 30, 2020, the recognized, but unpaid, balance related to the PDP non-cash stock-based compensation plan in other accrued expenses in the condensed consolidated balance sheet was $4.1 million. |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS: | 3 Months Ended |
Jun. 30, 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): June 30, 2020 March 31, 2020 Prepaid expenses and other $ 10,294 $ 13,385 Receivable for cash settlement of withheld income tax withholdings on equity award releases — 7,658 Assets of non-qualified retirement plan 14,020 11,623 Other current assets $ 24,314 $ 32,666 Other noncurrent assets consist of the following (dollars in thousands): June 30, 2020 March 31, 2020 Long-term prepaid data revenue share $ 9,829 $ — Internally developed software 639 889 Right-of-use asset (see Note 4) 15,928 17,830 Deferred tax asset 1,089 852 Deposits 2,566 2,562 Other miscellaneous noncurrent assets 5,501 5,032 Other assets, net $ 35,552 $ 27,165 |
OTHER ACCRUED EXPENSES_
OTHER ACCRUED EXPENSES: | 3 Months Ended |
Jun. 30, 2020 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): June 30, 2020 March 31, 2020 Liabilities of non-qualified retirement plan $ 14,020 $ 11,623 Short-term lease liabilities (see Note 4) 9,681 9,641 PDP performance plan liability (see Note 5) 4,080 16,318 DPM consideration holdback (see Note 5) — 6,185 Other miscellaneous accrued expenses 22,243 25,224 Other accrued expenses $ 50,024 $ 68,991 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 3 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT: | PROPERTY AND EQUIPMENT: Property and equipment is summarized as follows (dollars in thousands): June 30, 2020 March 31, 2020 Leasehold improvements $ 26,121 $ 25,614 Data processing equipment 9,603 9,499 Office furniture and other equipment 9,353 9,673 45,077 44,786 Less accumulated depreciation and amortization 27,969 25,465 $ 17,108 $ 19,321 Depreciation expense on property and equipment was $2.5 million and $5.3 million for the three months ended June 30, 2020 and 2019, respectively. Depreciation expense for the three months ended June 30, 2019 included $1.9 million of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution. |
GOODWILL_
GOODWILL: | 3 Months Ended |
Jun. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill Disclosure | GOODWILL: Changes in goodwill for the three months ended June 30, 2020 was as follows (dollars in thousands): Total Balance at March 31, 2020 $ 297,796 Change in foreign currency translation adjustment 593 Balance at June 30, 2020 $ 298,389 Goodwill by geography as of June 30, 2020 was: Total U.S. $ 295,216 APAC 3,173 Balance at June 30, 2020 $ 298,389 |
INTANGIBLE ASSETS_
INTANGIBLE ASSETS: | 3 Months Ended |
Jun. 30, 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): June 30, 2020 March 31, 2020 Developed technology, gross $ 66,473 $ 66,451 Accumulated amortization (56,161) (54,713) Net developed technology $ 10,312 $ 11,738 Customer relationship/Trade name, gross $ 42,997 $ 42,993 Accumulated amortization (34,980) (33,109) Net customer/trade name $ 8,017 $ 9,884 Publisher/Data supply relationships, gross $ 39,800 $ 39,800 Accumulated amortization (18,214) (16,222) Net publisher relationship $ 21,586 $ 23,578 Total intangible assets, gross $ 149,270 $ 149,244 Total accumulated amortization (109,355) (104,044) Total intangible assets, net $ 39,915 $ 45,200 Total amortization expense related to intangible assets was $5.3 million and $3.5 million, for the three months ended June 30, 2020 and 2019, respectively. The following table presents the estimated future amortization expenses related to purchased intangible assets. The amount for 2021 represents the remaining nine months ending March 31, 2021 (dollars in thousands): Fiscal Year: 2021 $ 12,077 2022 14,092 2023 11,683 2024 2,063 $ 39,915 |
ALLOWANCE FOR CREDIT LOSSES_
ALLOWANCE FOR CREDIT LOSSES: | 3 Months Ended |
Jun. 30, 2020 | |
Credit Loss [Abstract] | |
ALLOWANCE FOR CREDIT LOSSES: | ALLOWANCE FOR CREDIT LOSSES: Trade accounts receivable are presented net of allowances for credit losses, returns and credits of $8.2 million at June 30, 2020 and $7.6 million at March 31, 2020. We are monitoring the impacts from the COVID-19 pandemic on our customers and various counterparties. During the three months ended June 30, 2020 , the Company recorded bad debt expense of $1.3 million . A summary of the activity of the allowance for doubtful accounts, returns and credits was (dollars in thousands): For the three months 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 June 30, 2020 $ 7,575 $ 1,330 $ (23) $ (649) $ 8,233 |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | 3 Months Ended |
Jun. 30, 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 three months ended June 30, 2020 (dollars in thousands): Associate-related Lease Total Balances at March 31, 2020 $ 450 $ 6,243 $ 6,693 Restructuring charges and adjustments 1,035 1,000 2,035 Payments (742) (253) (995) Balances at June 30, 2020 $ 743 $ 6,990 $ 7,733 The above balances are included in other accrued expenses and other liabilities in the condensed consolidated balance sheets. Restructuring Plans During the three months ended June 30, 2020, the Company recorded a total of $2.0 million in restructuring charges and adjustments included in gains, losses and other items, net in the condensed consolidated statement of operations. The expense included severance and other associate-related charges in the United States and Europe of $1.0 million and lease accruals and adjustments of $1.0 million. The lease accruals represent the full settlement cost on cancellation of an office space lease and is expected to be paid out during the second quarter ending September 30, 2020. Of the associate-related accruals of $1.0 million, $0.4 million remained accrued as of June 30, 2020 and is expected to be paid out during fiscal 2021. In fiscal 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 condensed 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, $0.1 million remained accrued as of June 30, 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 condensed 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 condensed 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 condensed 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 condensed 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 June 30, 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, $6.0 million remained accrued as of June 30, 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 condensed consolidated statements of operations for each of the periods presented (dollars in thousands): For the three months ended June 30, 2020 2019 Restructuring plan charges and adjustments $ 2,035 $ 1,800 Other (40) 476 $ 1,995 $ 2,276 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: | 3 Months Ended |
Jun. 30, 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 condensed consolidated financial statements. Commitments As of June 30, 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 4 - Leases for additional information regarding lease commitments. The following table presents the Company’s purchase commitments at June 30, 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 arrangements. The table does not include the future payment of liabilities related to uncertain tax positions of $25.3 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 $ 9,670 $ 5,293 $ 3,392 $ 96 $ 48 $ 18,499 Other commitments 16,185 25,754 27,867 7,519 — 77,325 Total purchase and other commitments $ 25,855 $ 31,047 $ 31,259 $ 7,615 $ 48 $ 95,824 |
INCOME TAX_
INCOME TAX: | 3 Months Ended |
Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX: | INCOME TAX:In determining the quarterly provision for income taxes, the Company applies its estimated annual effective income tax rate to its year-to-date pretax income or loss and adjusts for discrete tax items in the period. The estimated annual effective income tax rate for the current fiscal year is primarily driven by stock-based compensation and the valuation allowance. 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 as well as net operating loss and tax credit carryforwards. As of June 30, 2020, the Company continues to maintain a full valuation allowance on its net deferred tax assets except in certain foreign jurisdictions. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS: | 3 Months Ended |
Jun. 30, 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 June 30, 2020 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 14,020 $ — $ — $ 14,020 Total assets $ 14,020 $ — $ — $ 14,020 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | SUBSEQUENT EVENT Acuity Data |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies) | 3 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Accounting pronouncements adopted during the current year | Accounting pronouncements adopted during the current year Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") 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 that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software) and hosting arrangements that include an internal use software license). Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. April 1, 2020 The effect of prospectively adopting ASU 2018-15 on our condensed consolidated financial statements and related disclosures was not material. ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework ("ASU 2018-13") ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. April 1, 2020 The effect of adopting ASU 2018-15 on our condensed consolidated financial statements and related disclosures was not material. ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326) ("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 expected credit losses on accounts receivable and other financial instruments by using all practical and relevant information. April 1, 2020 The effect of adopting ASU 2016-13 on our condensed consolidated financial statements and related disclosures was not material. Recent accounting pronouncements not yet adopted Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2019-12 I ncome Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12") ASU 2019-12 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 2022 for the Company), including interim periods within those fiscal years. April 1, 2021 The Company does not expect the adoption of this guidance will have a material impact on our condensed consolidated financial statements. |
ORGANIZATION AND SUMMARY OF SIG
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Schedule of Accounting pronouncements adopted during the current year | Accounting pronouncements adopted during the current year Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") 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 that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software) and hosting arrangements that include an internal use software license). Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. April 1, 2020 The effect of prospectively adopting ASU 2018-15 on our condensed consolidated financial statements and related disclosures was not material. ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework ("ASU 2018-13") ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. April 1, 2020 The effect of adopting ASU 2018-15 on our condensed consolidated financial statements and related disclosures was not material. ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326) ("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 expected credit losses on accounts receivable and other financial instruments by using all practical and relevant information. April 1, 2020 The effect of adopting ASU 2016-13 on our condensed consolidated financial statements and related disclosures was not material. Recent accounting pronouncements not yet adopted Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2019-12 I ncome Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12") ASU 2019-12 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 2022 for the Company), including interim periods within those fiscal years. April 1, 2021 The Company does not expect the adoption of this guidance will have a material impact on our condensed consolidated financial statements. |
LOSS PER SHARE AND STOCKHOLDE_2
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY: | |
Reconciliation of numerator and denominator of basic and diluted earnings (loss) per share | A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): For the three months ended June 30, 2020 2019 Basic loss per share: Net loss $ (21,728) $ (42,140) Basic weighted-average shares outstanding 65,570 68,906 Basic loss per share $ (0.33) $ (0.61) Diluted loss per share: Basic weighted-average shares outstanding 65,570 68,906 Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (1) — — Diluted weighted-average shares outstanding 65,570 68,906 Diluted loss per share $ (0.33) $ (0.61) |
Schedule of anti-dilutive options, warrants and restricted stock units excluded from computation of earnings (loss) per share | Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because their effect would have been anti-dilutive (other than due to the net loss position of the Company) are shown below (shares in thousands): For the three months ended June 30, 2020 2019 Number of shares underlying restricted stock units 2,022 431 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS: (Tables) | 3 Months Ended |
Jun. 30, 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). For the three months ended June 30, Primary Geographical Markets 2020 2019 United States $ 93,382 $ 76,541 Europe 4,870 4,747 APAC 1,185 1,223 $ 99,437 $ 82,511 Major Offerings/Services Subscription $ 82,915 $ 68,326 Marketplace and Other 16,522 14,185 $ 99,437 $ 82,511 |
LEASES_ (Tables)
LEASES: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Leases [Abstract] | |
Lease, Cost | Right-of-use asset and lease liability balances consist of the following (dollars in millions): June 30, 2020 March 31, 2020 Right-of-use assets included in other assets, net $ 15.9 $ 17.8 Short-term lease liabilities included in other accrued expenses $ 9.7 $ 9.6 Long-term lease liabilities included in other liabilities $ 9.4 $ 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 June 30, 2020 are as follows (dollars in thousands): Amount Fiscal 2021 $ 8,098 Fiscal 2022 9,078 Fiscal 2023 2,681 Fiscal 2024 769 Fiscal 2025 66 Thereafter — Total undiscounted lease commitments 20,692 Less: Interest and short-term leases 1,645 Total discounted operating lease liabilities $ 19,047 |
STOCK-BASED COMPENSATION_ (Tabl
STOCK-BASED COMPENSATION: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Schedule of stock-based compensation activity, by award type | The Company's stock-based compensation activity for the three months ended June 30, 2020, by award type, was (dollars in millions): For the three months ended June 30, 2020 2019 Stock options $ 0.8 $ 0.7 Restricted stock units 8.9 11.1 Arbor acquisition consideration holdback — 2.6 DPM acquisition consideration holdback 1.9 — PDP assumed performance plan 4.6 3.9 Other non-employee stock-based compensation 0.3 0.3 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 16.5 18.6 Less expense related to liability-based equity awards (6.0) (3.5) Total non-cash stock-based compensation included in the condensed consolidated statements of equity $ 10.5 $ 15.1 |
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): For the three months ended June 30, 2020 2019 Cost of revenue $ 0.8 $ 0.8 Research and development 5.9 4.0 Sales and marketing 7.1 8.9 General and administrative 2.7 4.9 Total non-cash stock-based compensation included in the condensed consolidated statements of operations $ 16.5 $ 18.6 |
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 June 30, 2020, by award type. The amount for 2021 represents the remaining nine months ending March 31, 2021. All other periods represent fiscal years ending March 31 (dollars in millions) For the years ending, 2021 2022 2023 2024 2025 Total Stock options $ 1.4 $ 1.1 $ 0.3 $ — $ — $ 2.8 Restricted stock units 49.4 56.4 43.0 20.9 2.0 171.7 DPM acquisition consideration holdback 6.1 8.1 2.0 — — 16.2 PDP assumed performance plan 13.8 9.2 — — — 23.0 $ 70.7 $ 74.8 $ 45.3 $ 20.9 $ 2.0 $ 213.7 |
Schedule of option activity | Stock option activity for the three months ended June 30, 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, 2020 1,350,658 $ 14.43 Exercised (45,227) $ 3.70 $ 1,818 Forfeited or canceled (4,228) $ 1.59 Outstanding at June 30, 2020 1,301,203 $ 14.85 3.3 $ 35,945 Exercisable at June 30, 2020 1,236,810 $ 15.52 3.0 $ 33,329 |
Summary of stock options outstanding and exercisable | A summary of stock options outstanding and exercisable as of June 30, 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 — $ 9.99 188,424 5.1 years $ 1.58 124,031 $ 1.44 $ 10.00 — $ 19.99 709,672 2.3 years $ 14.69 709,672 $ 14.69 $ 20.00 — $ 24.99 403,107 4.0 years $ 21.31 403,107 $ 21.31 1,301,203 3.3 years $ 14.85 1,236,810 $ 15.52 |
Schedule of time-vesting restricted stock unit activity | RSU activity for the three months ended June 30, 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, 2020 3,351,638 $ 40.68 2.51 Granted 1,604,733 $ 37.82 Vested (395,982) $ 42.04 Forfeited or canceled (102,872) $ 41.90 Outstanding at June 30, 2020 4,457,517 $ 39.50 2.85 |
Schedule of non-vested performance-based restricted stock units activity | PSU activity for the three months ended June 30, 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, 2020 545,446 $ 51.01 2.24 Granted 246,524 $ 43.40 Additional earned performance shares 38,063 $ 55.48 Vested (32,514) $ 55.48 Forfeited or canceled (28,857) $ 32.62 Outstanding at June 30, 2020 768,662 $ 49.29 2.28 |
OTHER CURRENT AND NONCURRENT _2
OTHER CURRENT AND NONCURRENT ASSETS: (Tables) | 3 Months Ended |
Jun. 30, 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): June 30, 2020 March 31, 2020 Prepaid expenses and other $ 10,294 $ 13,385 Receivable for cash settlement of withheld income tax withholdings on equity award releases — 7,658 Assets of non-qualified retirement plan 14,020 11,623 Other current assets $ 24,314 $ 32,666 |
Schedule of components of other noncurrent assets | Other noncurrent assets consist of the following (dollars in thousands): June 30, 2020 March 31, 2020 Long-term prepaid data revenue share $ 9,829 $ — Internally developed software 639 889 Right-of-use asset (see Note 4) 15,928 17,830 Deferred tax asset 1,089 852 Deposits 2,566 2,562 Other miscellaneous noncurrent assets 5,501 5,032 Other assets, net $ 35,552 $ 27,165 |
OTHER ACCRUED EXPENSES_ (Tables
OTHER ACCRUED EXPENSES: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Other Accrued Expenses [Abstract]. | |
Schedule of other accrued expenses | Other accrued expenses consist of the following (dollars in thousands): June 30, 2020 March 31, 2020 Liabilities of non-qualified retirement plan $ 14,020 $ 11,623 Short-term lease liabilities (see Note 4) 9,681 9,641 PDP performance plan liability (see Note 5) 4,080 16,318 DPM consideration holdback (see Note 5) — 6,185 Other miscellaneous accrued expenses 22,243 25,224 Other accrued expenses $ 50,024 $ 68,991 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment is summarized as follows (dollars in thousands): June 30, 2020 March 31, 2020 Leasehold improvements $ 26,121 $ 25,614 Data processing equipment 9,603 9,499 Office furniture and other equipment 9,353 9,673 45,077 44,786 Less accumulated depreciation and amortization 27,969 25,465 $ 17,108 $ 19,321 |
GOODWILL_ (Tables)
GOODWILL: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill by operating segment and activity and by component included in each segment | Changes in goodwill for the three months ended June 30, 2020 was as follows (dollars in thousands): Total Balance at March 31, 2020 $ 297,796 Change in foreign currency translation adjustment 593 Balance at June 30, 2020 $ 298,389 Goodwill by geography as of June 30, 2020 was: Total U.S. $ 295,216 APAC 3,173 Balance at June 30, 2020 $ 298,389 |
INTANGIBLE ASSETS_ (Tables)
INTANGIBLE ASSETS: (Tables) | 3 Months Ended |
Jun. 30, 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): June 30, 2020 March 31, 2020 Developed technology, gross $ 66,473 $ 66,451 Accumulated amortization (56,161) (54,713) Net developed technology $ 10,312 $ 11,738 Customer relationship/Trade name, gross $ 42,997 $ 42,993 Accumulated amortization (34,980) (33,109) Net customer/trade name $ 8,017 $ 9,884 Publisher/Data supply relationships, gross $ 39,800 $ 39,800 Accumulated amortization (18,214) (16,222) Net publisher relationship $ 21,586 $ 23,578 Total intangible assets, gross $ 149,270 $ 149,244 Total accumulated amortization (109,355) (104,044) Total intangible assets, net $ 39,915 $ 45,200 |
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. The amount for 2021 represents the remaining nine months ending March 31, 2021 (dollars in thousands): Fiscal Year: 2021 $ 12,077 2022 14,092 2023 11,683 2024 2,063 $ 39,915 |
ALLOWANCE FOR CREDIT LOSSES_ (T
ALLOWANCE FOR CREDIT LOSSES: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Credit Loss [Abstract] | |
Accounts Receivable, Allowance for Credit Loss | A summary of the activity of the allowance for doubtful accounts, returns and credits was (dollars in thousands): For the three months 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 June 30, 2020 $ 7,575 $ 1,330 $ (23) $ (649) $ 8,233 |
RESTRUCTURING, IMPAIRMENT AND_2
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: (Tables) | 3 Months Ended |
Jun. 30, 2020 | |
Restructuring and Related Activities [Abstract] | |
Summary of restructuring activity | The following table summarizes the Company's restructuring activity for the three months ended June 30, 2020 (dollars in thousands): Associate-related Lease Total Balances at March 31, 2020 $ 450 $ 6,243 $ 6,693 Restructuring charges and adjustments 1,035 1,000 2,035 Payments (742) (253) (995) Balances at June 30, 2020 $ 743 $ 6,990 $ 7,733 |
Schedule of gains, losses and other items | The following table summarizes the activity included in gains, losses and other items, net in the condensed consolidated statements of operations for each of the periods presented (dollars in thousands): For the three months ended June 30, 2020 2019 Restructuring plan charges and adjustments $ 2,035 $ 1,800 Other (40) 476 $ 1,995 $ 2,276 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended |
Jun. 30, 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 $25.3 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 $ 9,670 $ 5,293 $ 3,392 $ 96 $ 48 $ 18,499 Other commitments 16,185 25,754 27,867 7,519 — 77,325 Total purchase and other commitments $ 25,855 $ 31,047 $ 31,259 $ 7,615 $ 48 $ 95,824 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Tables) | 3 Months Ended |
Jun. 30, 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 June 30, 2020 (dollars in thousands): Level 1 Level 2 Level 3 Total Assets: Other current assets $ 14,020 $ — $ — $ 14,020 Total assets $ 14,020 $ — $ — $ 14,020 |
LOSS PER SHARE AND STOCKHOLDE_3
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Reconciliation of basic and diluted earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||
Net loss | $ (21,728) | $ (42,140) |
Basic loss per share | ||
Basic weighted-average shares outstanding (in shares) | 65,570 | 68,906 |
Basic earnings (loss) per share (in USD per share) | $ (0.33) | $ (0.61) |
Diluted earnings (loss) per share: | ||
Basic weighted-average shares outstanding (in shares) | 65,570 | 68,906 |
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method (in shares) | 0 | 0 |
Diluted weighted-average shares outstanding | 65,570 | 68,906 |
Diluted earnings (loss) per share (in USD per share) | $ (0.33) | $ (0.61) |
LOSS PER SHARE AND STOCKHOLDE_4
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Anti-dilutive shares (Details) - shares shares in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 2,022 | 431 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 2,022 | 431 |
Continuing operations | ||
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 1,800 | 2,800 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 1,800 | 2,800 |
LOSS PER SHARE AND STOCKHOLDE_5
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Narrative (Details) - USD ($) shares in Millions | 3 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Acquisition of treasury stock | $ 42,312,000 | $ 20,099,000 | |
Treasury stock, at cost | 2,018,425,000 | $ 1,974,286,000 | |
Accumulated other comprehensive income (loss), foreign currency translation adjustment | 6,300,000 | $ 5,700,000 | |
Common Stock Repurchase Program | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Stock repurchase program, authorized amount | $ 1,000,000,000 | ||
Acquisition of treasury stock (in shares) | 1.3 | ||
Acquisition of treasury stock | $ 42,300,000 | ||
Treasury stock, at cost (in shares) | 28.2 | ||
Treasury stock, at cost | $ 673,600,000 | ||
Stock repurchase program, remaining amount | $ 326,400,000 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 99,437 | $ 82,511 |
Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 82,915 | 68,326 |
Marketplace and Other | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 16,522 | 14,185 |
United States | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 93,382 | 76,541 |
Europe | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 4,870 | 4,747 |
APAC | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 1,185 | $ 1,223 |
REVENUE FROM CONTRACTS WITH C_4
REVENUE FROM CONTRACTS WITH CUSTOMERS: Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions | Jun. 30, 2020USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 339.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 222.7 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months |
LEASES_ Narrative (Details)
LEASES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Operating lease costs | $ 3,000 | |
Rent expense | $ 2,300 | |
Fiscal 2021 | 8,098 | |
Fiscal 2022 | 9,078 | |
Fiscal 2023 | 2,681 | |
Fiscal 2024 | 769 | |
Fiscal 2025 | 66 | |
Thereafter | 0 | |
Leased office facilities | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Fiscal 2021 | 1,924 | |
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 | Jun. 30, 2020 | Mar. 31, 2020 |
Lessee, Lease, Description [Line Items] | ||
Right-of-use asset (see Note 4) | $ 15,928 | $ 17,830 |
Other Noncurrent Assets | ||
Lessee, Lease, Description [Line Items] | ||
Right-of-use asset (see Note 4) | 15,900 | 17,800 |
Accrued Liabilities | ||
Lessee, Lease, Description [Line Items] | ||
Short-term lease liabilities (see Note 4) | 9,681 | 9,641 |
Other Noncurrent Liabilities | ||
Lessee, Lease, Description [Line Items] | ||
Long-term lease liabilities | $ 9,400 | $ 11,400 |
LEASES_ Operating Lease, Liabil
LEASES: Operating Lease, Liability Maturity (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Leases [Abstract] | |
Fiscal 2021 | $ 8,098 |
Fiscal 2022 | 9,078 |
Fiscal 2023 | 2,681 |
Fiscal 2024 | 769 |
Fiscal 2025 | 66 |
Thereafter | 0 |
Total undiscounted lease commitments | 20,692 |
Less: Interest and short-term leases | 1,645 |
Total discounted operating lease liabilities | $ 19,047 |
STOCK-BASED COMPENSATION_ - Sto
STOCK-BASED COMPENSATION: - Stock-based compensation plans, narrative (Details) - Stock Option and Equity Compensation Plans shares in Millions | Jun. 30, 2020shares |
Share-based compensation | |
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 42.3 |
Shares which remained available for future grants (in shares) | 7.3 |
STOCK-BASED COMPENSATION_ Stock
STOCK-BASED COMPENSATION: Stock-based compensation activity, by award type (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Share-based compensation | ||
Other non-employee stock-based compensation | $ 0.3 | $ 0.3 |
Total non-cash stock-based compensation | 16.5 | 18.6 |
Total non-cash stock-based compensation included in the consolidated statements of equity | 10.5 | 15.1 |
Stock options | ||
Share-based compensation | ||
Share-based compensation expense | 0.8 | 0.7 |
Restricted stock units | ||
Share-based compensation | ||
Share-based compensation expense | 8.9 | 11.1 |
Arbor Holdback Agreement | Arbor | ||
Share-based compensation | ||
Share-based compensation expense | 0 | 2.6 |
Consideration Holdback | Data Plus Math Corporation | ||
Share-based compensation | ||
Share-based compensation expense | 1.9 | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | ||
Share-based compensation | ||
Share-based compensation expense | 4.6 | 3.9 |
Liability-based equity awards | ||
Share-based compensation | ||
Total non-cash stock-based compensation | $ (6) | $ (3.5) |
STOCK-BASED COMPENSATION_ - Eff
STOCK-BASED COMPENSATION: - Effect of stock-based compensation expense on income, by financial statement line item (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Share-based compensation | ||
Total non-cash stock-based compensation | $ 16.5 | $ 18.6 |
Cost of revenue | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 0.8 | 0.8 |
Research and development | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 5.9 | 4 |
Sales and marketing | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 7.1 | 8.9 |
General and administrative | ||
Share-based compensation | ||
Total non-cash stock-based compensation | $ 2.7 | $ 4.9 |
STOCK-BASED COMPENSATION_ Futur
STOCK-BASED COMPENSATION: Future expense, by award type (Details) $ in Millions | Jun. 30, 2020USD ($) |
Share-based compensation | |
Total | $ 213.7 |
2021 | |
Share-based compensation | |
Total | 70.7 |
2022 | |
Share-based compensation | |
Total | 74.8 |
2023 | |
Share-based compensation | |
Total | 45.3 |
2024 | |
Share-based compensation | |
Total | 20.9 |
2025 | |
Share-based compensation | |
Total | 2 |
Stock options | |
Share-based compensation | |
Share-based compensation not yet recognized | 2.8 |
Stock options | 2021 | |
Share-based compensation | |
Share-based compensation not yet recognized | 1.4 |
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 | 0.3 |
Stock options | 2024 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Stock options | 2025 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Restricted stock units | |
Share-based compensation | |
Future share-based compensation expense expected | 171.7 |
Restricted stock units | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 49.4 |
Restricted stock units | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 56.4 |
Restricted stock units | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 43 |
Restricted stock units | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 20.9 |
Restricted stock units | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 2 |
Consideration Holdback | Data Plus Math Corporation | |
Share-based compensation | |
Future share-based compensation expense expected | 16.2 |
Consideration Holdback | Data Plus Math Corporation | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 6.1 |
Consideration Holdback | Data Plus Math Corporation | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 8.1 |
Consideration Holdback | Data Plus Math Corporation | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 2 |
Consideration Holdback | Data Plus Math Corporation | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Consideration Holdback | Data Plus Math Corporation | 2025 | |
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 | 23 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2021 | |
Share-based compensation | |
Future share-based compensation expense expected | 13.8 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 9.2 |
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 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | $ 0 |
STOCK-BASED COMPENSATION_ Sto_2
STOCK-BASED COMPENSATION: Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 3 Months Ended |
Jun. 30, 2020USD ($)$ / sharesshares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 1,350,658 |
Exercised (in shares) | shares | (45,227) |
Forfeited or cancelled (in shares) | shares | (4,228) |
Outstanding at end of the period (in shares) | shares | 1,301,203 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 14.43 |
Exercised (in dollars per share) | $ / shares | 3.70 |
Forfeited or cancelled (in dollars per share) | $ / shares | 1.59 |
Outstanding at the end of the period (in dollars per share) | $ / shares | $ 14.85 |
Weighted average remaining contractual term | 3 years 3 months 18 days |
Exercised | $ | $ 1,818 |
Outstanding at the end of the period | $ | $ 35,945 |
Exercisable at the end of the period (in shares) | shares | 1,236,810 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 15.52 |
Exercisable at the end of the period | 3 years |
Exercisable at the end of the period | $ | $ 33,329 |
STOCK-BASED COMPENSATION_ - Sum
STOCK-BASED COMPENSATION: - Summary of Options (Details) | 3 Months Ended |
Jun. 30, 2020$ / sharesshares | |
Stock options outstanding and exercisable by exercise price range | |
Options outstanding (in shares) | shares | 1,301,203 |
Options outstanding - Weighted-average remaining contractual life | 3 years 3 months 18 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 14.85 |
Options exercisable (in shares) | shares | 1,236,810 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 15.52 |
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 | 188,424 |
Options outstanding - Weighted-average remaining contractual life | 5 years 1 month 6 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 1.58 |
Options exercisable (in shares) | shares | 124,031 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.44 |
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 3 months 18 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 | 403,107 |
Options outstanding - Weighted-average remaining contractual life | 4 years |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
Options exercisable (in shares) | shares | 403,107 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
STOCK-BASED COMPENSATION_ - Tim
STOCK-BASED COMPENSATION: - Time-vesting restricted stock unit, narrative (Details) - Restricted stock units $ in Millions | 3 Months Ended |
Jun. 30, 2020USD ($)shares | |
Time Based Vesting | |
Share-based compensation | |
Granted (in shares) | shares | 1,604,733 |
Aggregate fair value of restricted stock units granted | $ 60.7 |
Vested in period, fair value | $ 18.1 |
Vesting in four years | |
Share-based compensation | |
Vesting period | 4 years |
STOCK-BASED COMPENSATION_ - T_2
STOCK-BASED COMPENSATION: - Time-vesting restricted stock unit activity (Details) - Restricted stock units - Time Based Vesting - $ / shares | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Non-vested restricted stock unit activity | ||
Outstanding at the beginning of the period (in shares) | 3,351,638 | |
Granted (in shares) | 1,604,733 | |
Vested (in shares) | (395,982) | |
Forfeited or cancelled (in shares) | (102,872) | |
Outstanding at the end of the period (in shares) | 4,457,517 | |
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) | $ 40.68 | |
Granted (in dollars per share) | 37.82 | |
Vested (in dollars per share) | 42.04 | |
Forfeited or cancelled (in dollars per share) | 41.90 | |
Outstanding at the end of the period (in dollars per share) | $ 39.50 | |
Weighted average remaining contractual term (in years) | 2 years 10 months 6 days | 2 years 6 months 3 days |
STOCK-BASED COMPENSATION_ - Per
STOCK-BASED COMPENSATION: - Performance-based restricted stock units (Details) - Restricted stock units $ in Millions | 3 Months Ended |
Jun. 30, 2020USD ($)shares | |
Performance stock | |
Share-based compensation | |
Granted (in shares) | 246,524 |
Aggregate fair value of restricted stock units granted | $ | $ 10.7 |
Vesting in period (in shares) | 32,514 |
Forfeited in period (in shares) | 28,857 |
The total fair value of performance-based restricted stock units | $ | $ 1.2 |
Performance Shares Vesting Total Shareholder Return | |
Share-based compensation | |
Granted (in shares) | 73,950 |
Aggregate fair value of restricted stock units granted | $ | $ 4.2 |
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% |
Performance Shares Vesting Under The Second Plan | |
Share-based compensation | |
Granted (in shares) | 172,574 |
Aggregate fair value of restricted stock units granted | $ | $ 6.5 |
Award vesting rights percentage | 50.00% |
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 Vesting In Three Equal Annual Increments | |
Share-based compensation | |
Vesting in period (in shares) | 59,480 |
Forfeited in period (in shares) | 38,063 |
Vesting Based on Relevant Performance Period Over Two Periods at March 31 2020 | |
Share-based compensation | |
Award vesting rights percentage | 164.00% |
Forfeited in period (in shares) | 97,543 |
Performance Shares Vesting Over Two Periods Ending September 30, 2021 | |
Share-based compensation | |
Granted (in shares) | 313,771 |
Award vesting rights percentage | 57.00% |
Forfeited in period (in shares) | 178,159 |
Performance Shares Vesting One-Year Anniversary Of Attainment [Member] | |
Share-based compensation | |
Award vesting rights percentage | 50.00% |
Vesting period | 1 year |
STOCK-BASED COMPENSATION_ - Non
STOCK-BASED COMPENSATION: - Non-vested performance-based restricted stock unit activity (Details) - Restricted stock units - Performance stock - $ / shares | 3 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Mar. 31, 2020 | |
Non-vested restricted stock unit activity | ||
Outstanding at the beginning of the period (in shares) | 545,446 | |
Granted (in shares) | 246,524 | |
Additional earned performance shares (in shares) | 38,063 | |
Vesting in period (in shares) | 32,514 | |
Forfeited or cancelled (in shares) | (28,857) | |
Outstanding at the end of the period (in shares) | 768,662 | 545,446 |
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) | $ 51.01 | |
Granted (in dollars per share) | 43.40 | |
Additional earned performance shares (in dollars per share) | 55.48 | |
Vested (in dollars per share) | 55.48 | |
Forfeited or cancelled (in dollars per share) | 32.62 | |
Outstanding at the end of the period (in dollars per share) | $ 49.29 | $ 51.01 |
Weighted average remaining contractual term (in years) | 2 years 3 months 10 days | 2 years 2 months 26 days |
STOCK-BASED COMPENSATION_ - S_2
STOCK-BASED COMPENSATION: - Stock-based Compensation Expense Related to Discontinued Operations (Details) $ in Millions | 3 Months Ended |
Jun. 30, 2020USD ($)numberOfExerciseMultiple | |
Consideration Holdback | |
Share-based compensation | |
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 |
Data Plus Math Corporation | |
Share-based compensation | |
Holdback consideration transferred | $ 24.4 |
Holdback expenses | 8.1 |
Data Plus Math Corporation | Accrued Liabilities | |
Share-based compensation | |
Holdback expenses | $ 0 |
STOCK-BASED COMPENSATION_ - PDP
STOCK-BASED COMPENSATION: - PDP Assumed Performance Plan and Qualified EPP (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Mar. 31, 2020 | |
Share-based compensation | ||
Other Accrued Liabilities, Current | $ 50,024 | $ 68,991 |
Pacific Data Partners LLC | ||
Share-based compensation | ||
Non-cash stock-based compensation expense | 42,300 | |
Other Accrued Liabilities, Current | $ 4,100 |
OTHER CURRENT AND NONCURRENT _3
OTHER CURRENT AND NONCURRENT ASSETS: (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 |
Other current assets | ||
Prepaid expenses and other | $ 10,294 | $ 13,385 |
Receivable for cash settlement of withheld income tax withholdings on equity award releases | 0 | 7,658 |
Assets of non-qualified retirement plan | 14,020 | 11,623 |
Other current assets | 24,314 | 32,666 |
Other noncurrent assets | ||
Long-term prepaid data revenue share | 9,829 | 0 |
Internally developed software | 639 | 889 |
Right-of-use asset (see Note 4) | 15,928 | 17,830 |
Deferred tax asset | 1,089 | 852 |
Deposits | 2,566 | 2,562 |
Other miscellaneous noncurrent assets | 5,501 | 5,032 |
Other assets, net | $ 35,552 | $ 27,165 |
OTHER ACCRUED EXPENSES_ (Detail
OTHER ACCRUED EXPENSES: (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 |
Lessee, Lease, Description [Line Items] | ||
Liabilities of non-qualified retirement plan | $ 14,020 | $ 11,623 |
PDP performance plan liability (see Note 5) | 4,080 | 16,318 |
DPM consideration holdback (see Note 5) | 0 | 6,185 |
Other miscellaneous accrued expenses | 22,243 | 25,224 |
Other accrued expenses | 50,024 | 68,991 |
Accrued Liabilities | ||
Lessee, Lease, Description [Line Items] | ||
Short-term lease liabilities (see Note 4) | $ 9,681 | $ 9,641 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 2,500 | $ 5,300 | |
Accelerated depreciation | $ 1,900 | ||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 45,077 | $ 44,786 | |
Less accumulated depreciation and amortization | 27,969 | 25,465 | |
Property and equipment, net of accumulated depreciation and amortization | 17,108 | 19,321 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 26,121 | 25,614 | |
Data processing equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 9,603 | 9,499 | |
Office furniture and other equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 9,353 | $ 9,673 |
GOODWILL_ (Details)
GOODWILL: (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2020USD ($) | |
Goodwill | |
Goodwill at the beginning of year | $ 297,796 |
Change in foreign currency translation adjustment | 593 |
Goodwill at the end of year | 298,389 |
U.S. | |
Goodwill | |
Goodwill at the end of year | 295,216 |
APAC | |
Goodwill | |
Goodwill at the end of year | $ 3,173 |
INTANGIBLE ASSETS_ (Details)
INTANGIBLE ASSETS: (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization expense | $ 5.3 | $ 3.5 |
INTANGIBLE ASSETS_ - Amounts al
INTANGIBLE ASSETS: - Amounts allocated to intangible assets from acquisitions (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | $ 149,270 | $ 149,244 |
Accumulated amortization | (109,355) | (104,044) |
Total finite-lived intangible assets, net | 39,915 | 45,200 |
Developed technology, gross (Software) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 66,473 | 66,451 |
Accumulated amortization | (56,161) | (54,713) |
Total finite-lived intangible assets, net | 10,312 | 11,738 |
Trade name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 42,997 | 42,993 |
Accumulated amortization | (34,980) | (33,109) |
Total finite-lived intangible assets, net | 8,017 | 9,884 |
Publisher Relationship | ||
Finite-Lived Intangible Assets [Line Items] | ||
Developed technology, gross (Software) | 39,800 | 39,800 |
Accumulated amortization | (18,214) | (16,222) |
Total finite-lived intangible assets, net | $ 21,586 | $ 23,578 |
INTANGIBLE ASSETS_ - Estimated
INTANGIBLE ASSETS: - Estimated future amortization expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 5,300 | $ 3,500 | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2021 | 12,077 | ||
2022 | 14,092 | ||
2023 | 11,683 | ||
2024 | 2,063 | ||
Total finite-lived intangible assets, net | $ 39,915 | $ 45,200 |
ALLOWANCE FOR CREDIT LOSSES_ Na
ALLOWANCE FOR CREDIT LOSSES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2020 | |
Credit Loss [Abstract] | |||
Allowances for credit losses, returns and credits | $ 8,200 | $ 7,600 | |
Provision for doubtful accounts | $ 1,330 | $ 962 |
ALLOWANCE FOR CREDIT LOSSES_ Su
ALLOWANCE FOR CREDIT LOSSES: Summary of the activity of the allowance for doubtful accounts, returns and credits (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at beginning of period | $ 7,575 | |
Provision for doubtful accounts | 1,330 | $ 962 |
Other changes | (23) | |
Bad debts written off, net of amounts recovered | (649) | |
Balance at end of period | $ 8,233 |
RESTRUCTURING, IMPAIRMENT AND_3
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Summary of restructuring activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Restructuring Reserve [Roll Forward] | ||
Restructuring charges and adjustments | $ 2,035 | $ 1,800 |
Restructuring Reserve, at the end of the period | 6,000 | |
Associate-related reserves | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the end of the period | 400 | |
Continuing operations | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 6,693 | |
Restructuring charges and adjustments | 2,035 | |
Payments | (995) | |
Restructuring Reserve, at the end of the period | 7,733 | |
Continuing operations | Associate-related reserves | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 450 | |
Restructuring charges and adjustments | 1,035 | |
Payments | (742) | |
Restructuring Reserve, at the end of the period | 743 | |
Continuing operations | Lease accruals | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring Reserve, at the beginning of the period | 6,243 | |
Restructuring charges and adjustments | 1,000 | |
Payments | (253) | |
Restructuring Reserve, at the end of the period | $ 6,990 |
RESTRUCTURING, IMPAIRMENT AND_4
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Jun. 30, 2020 | Jun. 30, 2019 | 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 | $ 2,035 | $ 1,800 | |||||
Restructuring reserve | 6,000 | ||||||
Gains Losses And Other Items Net | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | 2,000 | ||||||
Restructuring Activity 2020 | Gains Losses And Other Items Net | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | $ 3,400 | ||||||
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 2017 | Gains Losses And Other Items Net | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | $ 3,000 | ||||||
Restructuring Activity 2015 | Gains Losses And Other Items Net | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | $ 9,300 | ||||||
Employee Severance | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring reserve | 400 | ||||||
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 | 1,000 | ||||||
Termination Of Associates | Restructuring Activity 2020 | Gains Losses And Other Items Net | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | 1,100 | ||||||
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 | ||||||
Termination Of Associates | Restructuring Activity 2017 | Gains Losses And Other Items Net | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | 3,000 | ||||||
Leased office facilities | Restructuring Activity 2017 | 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 | Restructuring Activity 2017 | 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 | ||||||
United States and Europe | Employee Severance | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | 1,000 | ||||||
United States | Employee Severance | Restructuring Activity 2020 | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | 1,700 | ||||||
Asia-Pacific | Employee Severance | Restructuring Activity 2020 | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges and adjustments | 600 | ||||||
Restructuring reserve | $ 100 | ||||||
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 | 3 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Restructuring and Related Activities [Abstract] | ||
Restructuring plan charges and adjustments | $ 2,035 | $ 1,800 |
Other | (40) | 476 |
Gains, losses and other items, net | $ 1,995 | $ 2,276 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: (Details) $ in Thousands | Jun. 30, 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 | $ 25,300 |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2021 | 9,670 |
2022 | 5,293 |
2023 | 3,392 |
2024 | 96 |
2025 | 48 |
Total | 18,499 |
Other Commitments [Abstract] | |
2021 | 16,185 |
2022 | 25,754 |
2023 | 27,867 |
2024 | 7,519 |
2025 | 0 |
Total | 77,325 |
Purchase Obligation And Other Commitment [Abstract] | |
2021 | 25,855 |
2022 | 31,047 |
2023 | 31,259 |
2024 | 7,615 |
2025 | 48 |
Total | $ 95,824 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 |
Fair value of assets and liabilities | ||
Other current assets | $ 24,314 | $ 32,666 |
Fair value measurements on recurring basis | Total | ||
Fair value of assets and liabilities | ||
Other current assets | 14,020 | |
Total assets | 14,020 | |
Fair value measurements on recurring basis | Total | Level 1 | ||
Fair value of assets and liabilities | ||
Other current assets | 14,020 | |
Total assets | 14,020 | |
Fair value measurements on recurring basis | Total | Level 2 | ||
Fair value of assets and liabilities | ||
Other current assets | 0 | |
Total assets | 0 | |
Fair value measurements on recurring basis | Total | Level 3 | ||
Fair value of assets and liabilities | ||
Other current assets | 0 | |
Total assets | $ 0 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event [Member] - Acuity Data [Member] $ in Millions | Jul. 16, 2020USD ($) |
Subsequent Event [Line Items] | |
Payments to acquire businesses, gross | $ 3.1 |
Business combination, contingent consideration arrangements, range of outcomes, value, high | $ 5.1 |