Other Performance Metrics
| (in millions, except percentages) | Q4 QTD 2020 | Q4 QTD 2019 | % Change | % Change in Constant Currency | |||||||||
| Annual Contract Value (ACV) | $ | 665.5 | $ | 541.3 | 23 | % | 20 | % | |||||
| Operating cash flows | $ | 173.8 | $ | 139.5 | 25 | % | |||||||
| (in millions, except percentages) | FY 2020 | FY 2019 | % Change | % Change in Constant Currency | |||||||||
| ACV | $ | 1,616.3 | $ | 1,461.8 | 11 | % | 9 | % | |||||
| Operating cash flows | $ | 547.3 | $ | 499.9 | 9 | % | |||||||
ACV is a metric the Company uses to better understand the business. There is no GAAP measure comparable to ACV. ACV is composed of the following:
- the annualized value of maintenance and lease contracts with start dates or anniversary dates during the period, plus
- the value of perpetual license contracts with start dates during the period, plus
- the annualized value of fixed-term services contracts with start dates or anniversary dates during the period, plus
- the value of work performed during the period on fixed-deliverable services contracts.
Management's 2021 Financial Outlook
