(Unaudited)
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| (in thousands, except per share data) |
December 31,
2020 |
December 31,
2019 |
December 31,
2020 |
December 31,
2019 | |||||||||||
| Revenue: | |||||||||||||||
| Software licenses | $ | 382,057 | $ | 268,943 | $ | 780,850 | $ | 699,630 | |||||||
| Maintenance and service | 241,629 | 217,285 | 900,447 | 816,262 | |||||||||||
| Total revenue | 623,686 | 486,228 | 1,681,297 | 1,515,892 | |||||||||||
| Cost of sales: | |||||||||||||||
| Software licenses | 9,930 | 7,324 | 30,618 | 23,944 | |||||||||||
| Amortization | 11,415 | 7,646 | 40,642 | 21,710 | |||||||||||
| Maintenance and service | 46,558 | 34,626 | 154,004 | 120,619 | |||||||||||
| Total cost of sales | 67,903 | 49,596 | 225,264 | 166,273 | |||||||||||
| Gross profit | 555,783 | 436,632 | 1,456,033 | 1,349,619 | |||||||||||
| Operating expenses: | |||||||||||||||
| Selling, general and administrative | 195,845 | 167,937 | 587,707 | 521,200 | |||||||||||
| Research and development | 96,510 | 79,152 | 355,371 | 298,210 | |||||||||||
| Amortization | 4,037 | 3,827 | 16,599 | 15,169 | |||||||||||
| Total operating expenses | 296,392 | 250,916 | 959,677 | 834,579 | |||||||||||
| Operating income | 259,391 | 185,716 | 496,356 | 515,040 | |||||||||||
| Interest income | 610 | 3,186 | 5,073 | 12,796 | |||||||||||
| Interest expense | (2,444 | ) | (2,900 | ) | (10,988 | ) | (3,461 | ) | |||||||
| Other income (expense), net | 315 | (855 | ) | 3,484 | (1,792 | ) | |||||||||
| Income before income tax provision | 257,872 | 185,147 | 493,925 | 522,583 | |||||||||||
| Income tax provision | 42,240 | 19,295 | 60,038 | 71,288 | |||||||||||
| Net income | $ | 215,632 | $ | 165,852 | $ | 433,887 | $ | 451,295 | |||||||
| Earnings per share – basic: | |||||||||||||||
| Earnings per share | $ | 2.50 | $ | 1.95 | $ | 5.05 | $ | 5.36 | |||||||
| Weighted average shares | 86,115 | 85,183 | 85,840 | 84,259 | |||||||||||
| Earnings per share – diluted: | |||||||||||||||
| Earnings per share | $ | 2.46 | $ | 1.91 | $ | 4.97 | $ | 5.25 | |||||||
| Weighted average shares | 87,626 | 86,992 | 87,288 | 85,925 | |||||||||||
Reconciliations of GAAP to Non-GAAP Measures (Unaudited)
