Tyler Technologies, Inc
(NYSE:TYL)

Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fun...

Website: http://www.tylertech.com

Founded: 1966

Full Time Employees: 5,511

Sector: Technology

Industry: Software-Application

Technology

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Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31

revenues:
subscriptions	405,045,000	401,094,000	405,075,000	374,989,000	348,836,000	347,170,000	333,682,000	313,243,000	286,068,000	295,190,000	297,789,000	280,465,000	256,700,000	254,346,000	255,816,000	245,443,000	229,456,000	252,942,000	199,558,000	102,479,000	93,997,000	89,290,000	85,638,000	81,723,000	80,330,000	75,272,000	73,475,000	67,275,000	59,811,000	58,699,000	53,009,000	49,028,000	47,621,000	44,840,000	40,947,000	40,102,000	37,778,000	36,869,000	33,968,000	34,089,000	30,660,000	29,036,000	26,949,000	25,288,000	23,713,000	22,694,000	20,934,000	20,507,000	19,314,000	15,214,000	13,473,000	12,762,000	11,335,000	10,553,000	9,968,000	8,930,000	7,989,000	7,277,000	6,964,000	6,218,000	6,020,000	5,807,000	5,253,000	4,487,000	4,558,000	4,160,000	3,976,000	3,871,000	3,526,000	3,712,000	3,265,000
maintenance	109,378,000	111,312,000	112,123,000	112,801,000	115,018,000	115,587,000	115,309,000	117,218,000	117,507,000	117,484,000	116,539,000	115,130,000	117,273,000	117,338,000	116,815,000	117,029,000	117,721,000	117,833,000	119,621,000	119,112,000	118,409,000	117,979,000	116,760,000	114,365,000	113,644,000	109,833,000	106,689,000	100,152,000	98,333,000	96,215,000	96,076,000	93,897,000	93,013,000	92,285,000	89,412,000	86,859,000	85,194,000	83,000,000	78,743,000	76,032,000	67,708,000	61,018,000	59,463,000	57,348,000	55,792,000	54,713,000	51,951,000	50,240,000	49,740,000	49,291,000	46,050,000	45,489,000	44,452,000	42,060,000	39,850,000	38,919,000	37,011,000	35,056,000	35,512,000	34,298,000	34,729,000	33,212,000	33,416,000	32,406,000	32,744,000	30,224,000	29,138,000	28,356,000	28,353,000	25,900,000	24,849,000	22,885,000	22,132,000	20,455,000	19,939,000	19,193,000	18,847,000	17,716,000	17,657,000	16,846,000	16,655,000	15,806,000	15,421,000	14,933,000	14,589,000	14,657,000	13,581,000
professional services	55,310,000	64,728,000	58,612,000	64,050,000	62,795,000	64,462,000	71,928,000	64,806,000	61,501,000	61,126,000	66,420,000	60,929,000	55,315,000	63,180,000
software licenses and royalties	-2,941,000	5,100,000	3,663,000	6,994,000	6,106,000	6,188,000	5,329,000	8,734,000	7,633,000	10,554,000	9,779,000	10,130,000	7,622,000	20,269,000	15,009,000	16,506,000	19,242,000	22,673,000	17,604,000	14,933,000	17,465,000	19,937,000	17,025,000	18,737,000	32,358,000	25,379,000	20,675,000	21,793,000	25,821,000	22,444,000	22,400,000	22,776,000	20,522,000	19,842,000	17,107,000	18,223,000	19,975,000	19,930,000	17,551,000	16,850,000	14,432,000	15,690,000	14,586,000	14,300,000	12,524,000	13,226,000	12,083,000	11,232,000	11,426,000	10,495,000	8,830,000
hardware and other	8,387,000	13,645,000	16,644,000	6,331,000	8,376,000	9,930,000	14,728,000	8,358,000	8,225,000	10,330,000	13,752,000	5,199,000	6,771,000	9,420,000	9,108,000	7,115,000	5,416,000	4,655,000	7,690,000	4,173,000	5,464,000	5,200,000	3,318,000	3,820,000	4,261,000	3,911,000	10,651,000	4,189,000	6,183,000	4,966,000	8,369,000	4,140,000	3,660,000	3,410,000	7,919,000	2,728,000	2,534,000	3,419,000	5,686,000	3,334,000	2,301,000	2,146,000	4,043,000	1,137,000	1,479,000	1,070,000	3,831,000	1,489,000	1,423,000	1,954,000	1,394,000	1,847,000	1,661,000	2,953,000	1,251,000	1,897,000	1,148,000	2,115,000	1,134,000	1,652,000	1,430,000	1,415,000	1,371,000	2,466,000	1,788,000	1,492,000	1,571,000	2,600,000	1,497,000	1,826,000	1,761,000	2,607,000	1,401,000	1,529,000	1,778,000	2,427,000	1,453,000	1,442,000	1,811,000	2,120,000	1,248,000	1,403,000	1,500,000	2,110,000	1,605,000	1,884,000	1,473,000
total revenues	575,179,000	595,879,000	596,117,000	565,165,000	541,131,000	543,337,000	540,976,000	512,359,000	480,934,000	494,684,000	504,279,000	471,853,000	452,221,000	473,191,000	468,685,000	456,108,000	433,537,000	459,873,000	404,075,000	294,802,000	283,285,000	285,746,000	271,091,000	276,541,000	288,837,000	275,400,000	275,124,000	247,066,000	241,981,000	236,067,000	236,060,000	221,174,000	217,851,000	214,146,000	209,123,000	199,542,000	193,281,000	194,497,000	188,972,000	179,293,000	158,916,000	150,845,000	146,295,000	134,966,000	127,440,000	128,664,000	124,371,000	112,626,000	110,735,000	107,021,000	95,799,000	95,368,000	93,845,000	91,368,000	82,723,000	82,079,000	77,184,000	76,735,000	73,393,000	72,439,000	73,769,000	72,600,000	69,820,000	74,217,000	74,332,000	72,172,000	69,565,000	69,544,000	68,637,000	67,569,000	59,351,000	60,420,000	54,932,000	54,112,000	50,332,000	51,155,000	50,139,000	49,151,000	44,858,000	44,307,000	42,306,000	43,185,000	40,659,000	44,734,000	41,811,000	44,263,000	41,462,000
yoy	6.29%	9.67%	10.19%	10.31%	12.52%	9.84%	7.28%	8.58%	6.35%	4.54%	7.59%	3.45%	4.31%	2.90%	15.99%	54.72%	53.04%	60.94%	49.06%	6.60%	-1.92%	3.76%	-1.47%	11.93%	19.36%	16.66%	16.55%	11.71%	11.08%	10.24%	12.88%	10.84%	12.71%	10.10%	10.66%	11.29%	21.62%	28.94%	29.17%	32.84%	24.70%	17.24%	17.63%	19.84%	15.09%	20.22%	29.82%	18.10%	18.00%	17.13%	15.81%	16.19%	21.59%	19.07%	12.71%	13.31%	4.63%	5.70%	5.12%	-2.40%	-0.76%	0.59%	0.37%	6.72%	8.30%	6.81%	17.21%	15.10%	24.95%	24.87%	17.92%	18.11%	9.56%	10.09%	12.20%	15.46%	18.52%	13.81%	10.33%	-0.95%	1.18%	-2.44%	-1.94%
qoq	-3.47%	-0.04%	5.48%	4.44%	-0.41%	0.44%	5.59%	6.53%	-2.78%	-1.90%	6.87%	4.34%	-4.43%	0.96%	2.76%	5.21%	-5.73%	13.81%	37.07%	4.07%	-0.86%	5.41%	-1.97%	-4.26%	4.88%	0.10%	11.36%	2.10%	2.51%	0.00%	6.73%	1.53%	1.73%	2.40%	4.80%	3.24%	-0.63%	2.92%	5.40%	12.82%	5.35%	3.11%	8.39%	5.91%	-0.95%	3.45%	10.43%	1.71%	3.47%	11.71%	0.45%	1.62%	2.71%	10.45%	0.78%	6.34%	0.59%	4.55%	1.32%	-1.80%	1.61%	3.98%	-5.92%	-0.15%	2.99%	3.75%	0.03%	1.32%	1.58%	13.85%	-1.77%	9.99%	1.52%	7.51%	-1.61%	2.03%	2.01%	9.57%	1.24%	4.73%	-2.04%	6.21%	-9.11%	6.99%	-5.54%	6.76%
cost of revenues:
subscriptions, maintenance, and professional services	214,929,500	289,070,000	292,595,000	278,053,000	207,441,250	283,750,000	277,145,000	268,870,000	188,996,250	247,781,000	255,789,000	252,415,000
amortization of software development	5,584,000	6,195,000	5,505,000	5,379,000	4,998,000	4,961,000	4,484,000	4,363,000	4,057,000	3,083,000	2,896,000	2,588,000
amortization of acquired software	9,446,000	9,376,000	9,319,000	9,294,000	9,241,000	9,244,000	9,240,000	9,239,000	9,183,000	9,035,000	8,924,000	8,920,000	11,310,000	13,622,000	14,039,000	13,221,000
total cost of revenues	313,196,000	314,427,000	322,933,000	298,084,000	304,312,000	305,877,000	303,160,000	288,693,000	268,009,000	269,524,000	281,102,000	272,016,000	258,888,000	268,528,000	275,237,000	263,690,000	246,377,000	263,657,000	222,014,000	150,595,000	144,616,000	142,237,000	139,888,000	147,410,000	146,562,000	144,683,000	147,264,000	131,018,000	126,110,000	124,441,000	126,784,000	118,369,000	112,351,000	110,717,000	113,260,000	105,194,000	100,464,000	101,017,000	102,036,000	97,175,000	85,694,000	79,012,000	78,042,000	71,087,000	66,949,000	66,872,000	65,813,000	60,096,000	57,968,000	57,472,000	51,954,000	50,728,000	48,901,000	50,669,000	45,304,000	43,059,000	41,052,000	42,598,000	40,770,000	39,823,000	40,562,000	40,125,000	39,801,000	40,978,000	41,097,000	40,175,000	39,273,000	40,599,000	38,687,000	38,480,000	37,548,000	35,984,000	33,302,000	33,775,000	32,310,000	30,916,000	29,982,000	30,205,000	29,396,000	28,202,000	26,286,000	26,936,000	27,546,000	26,670,000	26,515,000	27,163,000	26,637,000
gross profit	261,983,000	281,452,000	273,184,000	267,081,000	236,819,000	237,460,000	237,816,000	223,666,000	212,925,000	225,160,000	223,177,000	199,837,000	193,333,000	204,663,000	193,448,000	192,418,000	187,160,000	196,216,000	182,061,000	144,207,000	138,669,000	143,509,000	131,203,000	129,131,000	142,275,000	130,717,000	127,860,000	116,048,000	115,871,000	111,626,000	109,276,000	102,805,000	105,500,000	103,429,000	95,863,000	94,348,000	92,817,000	93,480,000	86,936,000	82,118,000	73,222,000	71,833,000	68,253,000	63,879,000	60,491,000	61,792,000	58,558,000	52,530,000	52,767,000	49,549,000	43,845,000	44,640,000	44,944,000	40,699,000	37,419,000	39,020,000	36,132,000	34,137,000	32,623,000	32,616,000	33,207,000	32,475,000	30,019,000	33,239,000	33,235,000	31,997,000	30,292,000	28,945,000	29,950,000	29,089,000	21,803,000	24,436,000	21,630,000	20,337,000	18,022,000	20,239,000	20,157,000	18,946,000	15,462,000	16,105,000	16,020,000	16,249,000	13,113,000	18,064,000	15,296,000	17,100,000	14,825,000
yoy	10.63%	18.53%	14.87%	19.41%	11.22%	5.46%	6.56%	11.92%	10.13%	10.02%	15.37%	3.86%	3.30%	4.30%	6.25%	33.43%	34.97%	36.73%	38.76%	11.67%	-2.53%	9.79%	2.61%	11.27%	22.79%	17.10%	17.01%	12.88%	9.83%	7.93%	13.99%	8.96%	13.66%	10.64%	10.27%	14.89%	26.76%	30.14%	27.37%	28.55%	21.05%	16.25%	16.56%	21.60%	14.64%	24.71%	33.56%	17.67%	17.41%	21.75%	17.17%	14.40%	24.39%	19.22%	14.70%	19.63%	8.81%	5.12%	8.67%	-1.87%	-0.08%	1.49%	-0.90%	14.84%	10.97%	10.00%	38.94%	18.45%	38.47%	43.03%	20.98%	20.74%	7.31%	7.34%	16.56%	25.67%	25.82%	16.60%	17.91%	-10.84%	4.73%	-4.98%	-11.55%
qoq	-6.92%	3.03%	2.29%	12.78%	-0.27%	-0.15%	6.33%	5.04%	-5.43%	0.89%	11.68%	3.36%	-5.54%	5.80%	0.54%	2.81%	-4.62%	7.77%	26.25%	3.99%	-3.37%	9.38%	1.60%	-9.24%	8.84%	2.23%	10.18%	0.15%	3.80%	2.15%	6.29%	-2.55%	2.00%	7.89%	1.61%	1.65%	-0.71%	7.53%	5.87%	12.15%	1.93%	5.25%	6.85%	5.60%	-2.11%	5.52%	11.48%	-0.45%	6.49%	13.01%	-1.78%	-0.68%	10.43%	8.77%	-4.10%	7.99%	5.84%	4.64%	0.02%	-1.78%	2.25%	8.18%	-9.69%	0.01%	3.87%	5.63%	4.65%	-3.36%	2.96%	33.42%	-10.78%	12.97%	6.36%	12.85%	-10.95%	0.41%	6.39%	22.53%	-3.99%	0.53%	-1.41%	23.92%	-27.41%	18.10%	-10.55%	15.35%
gross margin %	45.55%	47.23%	45.83%	47.26%	43.76%	43.70%	43.96%	43.65%	44.27%	45.52%	44.26%	42.35%	42.75%	43.25%	41.27%	42.19%	43.17%	42.67%	45.06%	48.92%	48.95%	50.22%	48.40%	46.70%	49.26%	47.46%	46.47%	46.97%	47.88%	47.29%	46.29%	46.48%	48.43%	48.30%	45.84%	47.28%	48.02%	48.06%	46.00%	45.80%	46.08%	47.62%	46.65%	47.33%	47.47%	48.03%	47.08%	46.64%	47.65%	46.30%	45.77%	46.81%	47.89%	44.54%	45.23%	47.54%	46.81%	44.49%	44.45%	45.03%	45.01%	44.73%	42.99%	44.79%	44.71%	44.33%	43.54%	41.62%	43.64%	43.05%	36.74%	40.44%	39.38%	37.58%	35.81%	39.56%	40.20%	38.55%	34.47%	36.35%	37.87%	37.63%	32.25%	40.38%	36.58%	38.63%	35.76%
sales and marketing expense	38,225,000	37,560,000	36,312,000	36,473,000	41,536,000	38,203,000	41,565,000	36,427,000	39,666,000	35,898,000	37,103,000	37,103,000
general and administrative expense	80,423,000	79,971,000	76,601,000	79,452,000	80,348,000	72,460,000	75,420,000	72,710,000	80,015,000	78,519,000	77,681,000	72,360,000
research and development expense	54,114,000	51,788,000	50,842,000	47,844,000	29,435,000	30,120,000	28,951,000	29,433,000	26,164,000	28,282,000	28,153,000	26,987,000	32,667,000	25,190,000	23,386,000	23,941,000	24,238,000	24,002,000	23,428,000	21,813,000	22,411,000	21,642,000	21,949,000	22,361,000	21,170,000	21,130,000	20,101,000	18,941,000	17,335,000	17,050,000	15,831,000	13,048,000	12,017,000	11,834,000	11,874,000	11,599,000	11,792,000	11,070,000	10,336,000	9,956,000	8,615,000	7,193,000	7,110,000	7,004,000	6,615,000	6,567,000	6,389,000	6,172,000	6,095,000	5,982,000	5,598,000	5,365,000	4,273,000	5,408,000	5,094,000	2,634,000	4,196,000	5,035,000	4,549,000	3,478,000	3,233,000	3,744,000	3,516,000	3,112,000	2,973,000	2,839,000	2,235,000	1,801,000	1,416,000	2,253,000	1,816,000	1,177,000	639,000	1,404,000	1,223,000
amortization of other intangibles	14,246,000	14,201,000	13,833,000	14,139,000	13,814,000	13,850,000	13,845,000	18,118,000	19,332,000	18,526,000	18,366,000	18,407,000	18,104,000	14,941,000	13,604,000	14,714,000	7,753,750	14,183,000	11,420,000	5,412,000	4,044,000	5,392,000	5,392,000	5,392,000	3,940,500	5,646,000	5,266,000	4,850,000
operating income	74,975,000	97,932,000	95,596,000	89,173,000	71,686,000	82,827,000	78,035,000	66,978,000	47,748,000	63,935,000	61,874,000	44,980,000	40,711,000	60,913,000	56,757,000	55,868,000	48,052,000	56,184,000	38,291,000	38,208,000	48,036,000	49,656,000	41,341,000	33,893,000	45,157,000	40,053,000	36,666,000	34,491,000	38,927,000	37,585,000	37,142,000	38,838,000	44,259,000	43,447,000	37,075,000	36,149,000	35,404,000	36,945,000	30,915,000	28,041,000	19,780,000	31,489,000	29,596,000	27,178,000	24,593,000	26,745,000	23,622,000	19,862,000	19,452,000	17,857,000	14,470,000	15,419,000	18,659,000	12,455,000	10,044,000	14,322,000	12,380,000	9,833,000	9,982,000	11,189,000	11,831,000	10,485,000	8,136,000	10,949,000	12,463,000	11,397,000	9,975,000	9,708,000	11,937,000	1,782,000	4,668,000	9,580,000	7,928,000	5,796,000	3,476,000	6,255,000	6,630,000	5,628,000	3,262,000	4,794,000	4,060,000	3,211,000	654,000	5,325,000	3,401,000	5,018,000	3,376,000
yoy	4.59%	18.24%	22.50%	33.14%	50.13%	29.55%	26.12%	48.91%	17.29%	4.96%	9.02%	-19.49%	-15.28%	8.42%	48.23%	46.22%	0.03%	13.15%	-7.38%	12.73%	6.38%	23.98%	12.75%	-1.73%	16.00%	6.57%	-1.28%	-11.19%	-12.05%	-13.49%	0.18%	7.44%	25.01%	17.60%	19.93%	28.91%	78.99%	17.33%	4.46%	3.18%	-19.57%	17.74%	25.29%	36.83%	26.43%	49.77%	63.25%	28.82%	4.25%	43.37%	44.07%	7.66%	50.72%	26.67%	0.62%	28.00%	4.64%	-6.22%	22.69%	2.19%	-5.07%	-8.00%	-18.44%	12.78%	4.41%	539.56%	113.69%	1.34%	50.57%	-69.25%	34.29%	53.16%	19.58%	2.99%	6.56%	30.48%	63.30%	75.27%	398.78%	-9.97%	19.38%	-36.01%	-80.63%
qoq	-23.44%	2.44%	7.20%	24.39%	-13.45%	6.14%	16.51%	40.27%	-25.32%	3.33%	37.56%	10.49%	-33.17%	7.32%	1.59%	16.27%	-14.47%	46.73%	0.22%	-20.46%	-3.26%	20.11%	21.98%	-24.94%	12.74%	9.24%	6.31%	-11.40%	3.57%	1.19%	-4.37%	-12.25%	1.87%	17.19%	2.56%	2.10%	-4.17%	19.51%	10.25%	41.76%	-37.18%	6.40%	8.90%	10.51%	-8.05%	13.22%	18.93%	2.11%	8.93%	23.41%	-6.15%	-17.36%	49.81%	24.00%	-29.87%	15.69%	25.90%	-1.49%	-10.79%	-5.43%	12.84%	28.87%	-25.69%	-12.15%	9.35%	14.26%	2.75%	-18.67%	569.87%	-61.83%	-51.27%	20.84%	36.78%	66.74%	-44.43%	-5.66%	17.80%	72.53%	-31.96%	18.08%	26.44%	390.98%	-87.72%	56.57%	-32.22%	48.64%
operating margin %	13.04%	16.43%	16.04%	15.78%	13.25%	15.24%	14.42%	13.07%	9.93%	12.92%	12.27%	9.53%	9.00%	12.87%	12.11%	12.25%	11.08%	12.22%	9.48%	12.96%	16.96%	17.38%	15.25%	12.26%	15.63%	14.54%	13.33%	13.96%	16.09%	15.92%	15.73%	17.56%	20.32%	20.29%	17.73%	18.12%	18.32%	19.00%	16.36%	15.64%	12.45%	20.88%	20.23%	20.14%	19.30%	20.79%	18.99%	17.64%	17.57%	16.69%	15.10%	16.17%	19.88%	13.63%	12.14%	17.45%	16.04%	12.81%	13.60%	15.45%	16.04%	14.44%	11.65%	14.75%	16.77%	15.79%	14.34%	13.96%	17.39%	2.64%	7.87%	15.86%	14.43%	10.71%	6.91%	12.23%	13.22%	11.45%	7.27%	10.82%	9.60%	7.44%	1.61%	11.90%	8.13%	11.34%	8.14%
interest expense	-1,252,000	-1,235,000	-1,262,000	-1,246,000	-1,259,000	-1,235,000	-1,253,000	-2,184,000	-3,750,000	-5,808,000	-6,387,000	-7,684,000	-8,103,000	-9,258,000	-6,214,000	-4,804,000	-4,987,000	-5,396,000
other income	11,240,000	10,855,000	8,179,000	7,363,000	6,340,000	4,504,000	1,883,000	1,845,000	652,000	787,000	643,000	1,246,000	1,011,000	131,000	216,000	364,000	295,000	445,000		88,000	376,000	280,000	470,000	990,000	2,633,000	499,000	-247,000	586,000	1,180,000	1,041,000	558,000	599,000	914,000	75,000			-285,000	-526,000	-720,000	-467,000	-240,000	255,000	185,000	181,000												3,990,000	-562,000		-500,000	-1,030,000	-568,000	-102,000	-42,000	-27,000	-42,000	-63,000	-14,000	137,000	398,000	244,000	402,000	548,000	441,000	364,000	447,000	477,000	306,000	200,000	97,000	303,000	224,000	233,000	146,000	36,000	138,000	41,000	102,000
income before income taxes	84,963,000	107,552,000	102,513,000	95,290,000	76,767,000	86,096,000	78,665,000	66,639,000	44,650,000	58,914,000	56,130,000	38,542,000	33,619,000	51,786,000	50,759,000	51,428,000	43,360,000	51,233,000	26,092,000	38,296,000	48,412,000	49,936,000	41,811,000	34,883,000	47,790,000	40,552,000	36,419,000	35,077,000	40,107,000	38,626,000	37,700,000	39,437,000	45,173,000	43,522,000	36,974,000	35,959,000	35,119,000	36,419,000	30,195,000	27,574,000	19,540,000	31,744,000	29,781,000	27,359,000	24,760,000	26,698,000	23,406,000	19,603,000	19,062,000	17,572,000	14,132,000	15,035,000	17,810,000	11,682,000	9,341,000	13,504,000	11,818,000	9,309,000	9,482,000	10,159,000	11,263,000	10,383,000	8,094,000	10,922,000	12,421,000	11,334,000	9,961,000	9,845,000	12,335,000	2,026,000	5,070,000	10,128,000	8,369,000	6,160,000	3,923,000	6,732,000	6,936,000	5,828,000	3,359,000	2,132,000	4,284,000	3,444,000	800,000	3,019,000	3,539,000	5,059,000	3,478,000
income tax provision	19,432,000	23,159,000	17,886,000	14,238,000	11,546,000	10,199,000	10,927,000	12,469,000	5,747,000	11,903,000	7,000,000	7,667,000	2,542,000	-1,447,000	10,813,000	11,444,000	-11,422,000	7,063,000	562,000	1,320,000	-5,682,000	10,652,000	-12,081,000	-12,667,000	1,000,000	162,000	4,420,000	7,729,000	8,555,000	-298,000	-1,461,000	1,612,000	-16,625,000	5,259,000	5,396,000	3,653,000	-16,523,000	14,155,000	11,323,000	10,495,000	10,922,000	11,602,000	10,945,000	10,086,000	9,443,000	9,698,000	8,666,000	7,720,000	8,550,000	6,523,000	5,639,000	5,659,000	6,978,000	4,577,000	3,660,000	4,805,000	4,312,000	3,685,000	3,754,000	2,949,000	4,540,000	4,134,000	3,222,000	4,266,000	4,946,000	4,461,000	3,955,000	4,714,000	5,976,000	1,780,000	1,944,000	3,938,000	3,209,000	2,410,000	1,522,000	2,555,000	2,523,000	2,068,000	1,347,000	1,976,000	1,703,000	1,423,000	330,000	2,331,000	1,507,000	2,084,000	1,387,000
net income	65,531,000	84,393,000	84,627,000	81,052,000	65,221,000	75,897,000	67,738,000	54,170,000	38,903,000	47,011,000	49,130,000	30,875,000	31,077,000	53,233,000	39,946,000	39,984,000	54,782,000	44,170,000	25,530,000	36,976,000	54,094,000	39,284,000	53,892,000	47,550,000	46,790,000	40,390,000	31,999,000	27,348,000	31,552,000	38,924,000	39,161,000	37,825,000	61,798,000	38,263,000	31,578,000	32,306,000	51,642,000	22,264,000	18,872,000	17,079,000	8,618,000	20,142,000	18,836,000	17,273,000	15,317,000	17,000,000	14,740,000	11,883,000	10,512,000	11,049,000	8,493,000	9,376,000	10,832,000	7,105,000	5,681,000	8,699,000	7,506,000	5,624,000	5,728,000	7,210,000	6,723,000	6,249,000	4,872,000	6,656,000	7,475,000	6,873,000	6,006,000	5,131,000	6,359,000	246,000	3,126,000	6,190,000	5,160,000	3,750,000	2,401,000	4,177,000	4,413,000	3,760,000	2,012,000	3,121,000	2,581,000	2,021,000	470,000	3,030,000	2,032,000	2,975,000	2,091,000
yoy	0.48%	11.19%	24.93%	49.63%	67.65%	61.45%	37.88%	75.45%	25.18%	-11.69%	22.99%	-22.78%	-43.27%	20.52%	56.47%	8.14%	1.27%	12.44%	-52.63%	-22.24%	15.61%	-2.74%	68.42%	73.87%	48.29%	3.77%	-18.29%	-27.70%	-48.94%	1.73%	24.01%	17.08%	19.67%	71.86%	67.33%	89.16%	499.23%	10.54%	0.19%	-1.12%	-43.74%	18.48%	27.79%	45.36%	45.71%	53.86%	73.55%	26.74%	-2.95%	55.51%	49.50%	7.78%	44.31%	26.33%	-0.82%	20.65%	11.65%	-10.00%	17.57%	8.32%	-10.06%	-9.08%	-18.88%	29.72%	17.55%	2693.90%	92.13%	-17.11%	23.24%	-93.44%	30.20%	48.19%	16.93%	-0.27%	19.33%	33.84%	70.98%	86.05%	328.09%	3.00%	27.02%	-32.07%	-77.52%
qoq	-22.35%	-0.28%	4.41%	24.27%	-14.07%	12.04%	25.05%	39.24%	-17.25%	-4.31%	59.13%	-0.65%	-41.62%	33.26%	-0.10%	-27.01%	24.03%	73.01%	-30.96%	-31.64%	37.70%	-27.11%	13.34%	1.62%	15.85%	26.22%	17.01%	-13.32%	-18.94%	-0.61%	3.53%	-38.79%	61.51%	21.17%	-2.25%	-37.44%	131.95%	17.97%	10.50%	98.18%	-57.21%	6.93%	9.05%	12.77%	-9.90%	15.33%	24.04%	13.04%	-4.86%	30.10%	-9.42%	-13.44%	52.46%	25.07%	-34.69%	15.89%	33.46%	-1.82%	-20.55%	7.24%	7.59%	28.26%	-26.80%	-10.96%	8.76%	14.44%	17.05%	-19.31%	2484.96%	-92.13%	-49.50%	19.96%	37.60%	56.18%	-42.52%	-5.35%	17.37%	86.88%	-35.53%	20.92%	27.71%	330.00%	-84.49%	49.11%	-31.70%	42.28%
net income margin %	11.39%	14.16%	14.20%	14.34%	12.05%	13.97%	12.52%	10.57%	8.09%	9.50%	9.74%	6.54%	6.87%	11.25%	8.52%	8.77%	12.64%	9.60%	6.32%	12.54%	19.10%	13.75%	19.88%	17.19%	16.20%	14.67%	11.63%	11.07%	13.04%	16.49%	16.59%	17.10%	28.37%	17.87%	15.10%	16.19%	26.72%	11.45%	9.99%	9.53%	5.42%	13.35%	12.88%	12.80%	12.02%	13.21%	11.85%	10.55%	9.49%	10.32%	8.87%	9.83%	11.54%	7.78%	6.87%	10.60%	9.72%	7.33%	7.80%	9.95%	9.11%	8.61%	6.98%	8.97%	10.06%	9.52%	8.63%	7.38%	9.26%	0.36%	5.27%	10.24%	9.39%	6.93%	4.77%	8.17%	8.80%	7.65%	4.49%	7.04%	6.10%	4.68%	1.16%	6.77%	4.86%	6.72%	5.04%
earnings per common share:
basic	1,520	1,960	1,960	1,880	1,530	1,780	1,590	1,280	930	1,120	1,170	740	740	1,280	960	970	1,340	1,080	630	910	1,350	980	1,350	1,200	1,210	1,040	830	710	830	1,000	1,020	1,000	1,660	1,020	850	880	1,410	610	520	470	240	590	560	510	470	520	450	360	330	340	270	310	360	240	190	280	240	180	180	220	200	180	140	190	210	190	170	130	170	10	80	160	130	100	60	110	110	100	50	32.5	70	50	10	42.5	50	70	50
diluted	1,500	1,930	1,930	1,840	1,490	1,740	1,570	1,260	910	1,100	1,150	730	730	1,260	940	940	1,290	1,040	610	880	1,300	940	1,300	1,160	1,160	1,000	800	690	810	960	970	950	1,580	970	810	830	1,310	580	490	440	210	550	520	480	430	480	420	330	300	320	250	280	330	220	170	260	230	170	170	210	190	170	130	180	200	190	160	130	160	10	80	150	120	90	60	100	110	90	50	30	60	50	10	40	50	70	50
appraisal services													8,540,000	8,638,000	8,812,000	8,518,000	7,912,000	7,146,000	6,265,000	6,465,000	5,274,000	5,394,000	4,696,000	5,763,000	6,024,000	6,008,000	6,233,000	5,214,000	5,376,000	5,544,000	5,532,000	5,394,000	5,755,000	6,290,000	6,366,000	6,612,000	6,204,000	6,541,000	6,984,000	6,558,000	5,728,000	6,557,000	6,691,000	6,089,000	5,705,000	5,802,000	5,444,000	4,851,000	4,971,000	5,207,000	5,591,000	5,496,000	5,594,000	5,771,000	5,682,000	5,283,000	5,761,000	5,987,000	6,197,000	5,742,000	5,612,000	4,925,000	4,275,000	4,102,000	4,692,000	5,054,000	4,892,000	4,849,000	5,289,000	4,378,000	4,582,000	4,804,000	4,927,000	6,007,000	5,580,000	5,028,000	4,920,000	5,108,000	4,699,000	4,443,000	4,147,000	4,635,000	5,149,000	5,989,000	6,406,000	7,045,000	7,954,000
subscriptions, professional services and maintenance													180,254,250	239,928,000
selling, general and administrative expenses													75,304,000	103,619,000	99,701,000	97,895,000	101,036,000	101,847,000	108,922,000	78,774,000	62,736,000	66,819,000	62,521,000	67,485,000	70,265,000	63,888,000	65,827,000	57,766,000	55,134,000	52,605,000	52,262,000	47,604,000	45,725,000	44,656,000	43,451,000	43,142,000	42,163,000	42,007,000	42,232,000	40,759,000	42,507,000	31,869,000	30,396,000	28,545,000	28,130,000	27,344,000	27,419,000	25,367,000	26,091,000	24,581,000	22,646,000	22,763,000	20,909,000	21,699,000	21,335,000	21,141,000	18,755,000	18,466,000	17,288,000	17,143,000	17,337,000	17,439,000	17,561,000	18,507,000	17,114,000	17,084,000	17,410,000	16,768,000	15,985,000	15,418,000	14,752,000	13,276,000	12,691,000	12,781,000	12,976,000	13,639,000	13,201,000	12,993,000	11,878,000	11,590,000	11,445,000	11,263,000	11,944,000	12,200,000	11,312,000	11,412,000	10,527,000
software services															63,125,000	61,497,000	53,790,000	54,624,000	53,337,000	47,640,000	42,676,000	47,946,000	43,654,000	52,133,000	52,220,000	54,997,000	57,401,000	48,443,000	46,457,000	48,199,000	50,674,000	45,939,000	47,280,000	47,479,000	47,372,000	45,018,000	41,596,000	44,738,000	46,040,000	42,430,000	38,087,000	36,398,000	34,563,000	30,804,000	28,227,000	31,159,000	30,128,000	24,307,000	23,861,000	24,860,000	20,461,000	21,042,000	22,099,000	21,737,000	18,530,000	17,217,000	17,644,000	17,992,000	16,764,000	16,060,000	16,718,000	18,506,000	17,056,000	19,460,000	20,383,000	21,330,000	19,232,000	20,024,000	18,600,000	19,848,000	16,525,000	9,215,000	18,276,000	17,728,000	15,064,000	14,910,000	14,497,000	15,061,000	13,120,000	12,708,000	13,103,000	13,469,000	12,252,000	12,654,000	12,256,000	13,274,000	11,602,000
subscriptions, software services and maintenance															244,192,000	236,896,000	223,123,000	241,944,000	199,771,000	134,320,000	128,557,000	125,881,000	124,287,000
acquired software																	12,918,000	12,896,000	11,823,000	7,964,000	7,964,000	7,965,000	8,006,000	8,027,000	7,997,000	7,975,000	7,988,000	6,682,000	5,969,000	5,897,000	5,724,000	5,382,000	5,443,000	5,473,000	5,360,000	5,410,000	5,498,000	5,598,000	5,680,000	5,459,000	2,976,000	552,000	456,000	456,000	485,000	448,000	444,000	481,000	493,000	513,000	549,000	518,000	478,000	482,000	410,000	343,000	243,000	244,000	295,000	398,000	398,000	398,000	398,000	369,000	369,000	358,000	315,000	430,000	472,000	461,000	436,000	1,031,000	427,000	427,000	394,000	353,000	353,000	353,000	301,000
other income including interest expense																			-12,199,000
software services, maintenance and subscriptions																								131,779,000	130,674,000	128,545,000	125,759,000	117,160,000	111,843,000	111,508,000	109,487,000	106,085,000	99,886,000	98,036,000	96,172,000	93,540,000	88,329,000	88,623,000	86,717,000	85,270,000	77,521,000	72,764,000	69,678,000	65,377,000	61,662,000	61,428,000	58,274,000	54,999,000	52,616,000	51,786,000	46,382,000	45,168,000	43,485,000	43,118,000	39,813,000	37,405,000	35,689,000	35,502,000	35,180,000	33,901,000	34,708,000	34,595,000	34,881,000	34,679,000	35,259,000	34,174,000	33,087,000	32,692,000	31,988,000	31,123,000	30,444,000
amortization of customer and trade name intangibles																													4,475,000	4,386,000	4,041,000	3,315,000	3,499,000	3,492,000	3,463,000	3,458,000	3,458,000	3,458,000	3,453,000	3,362,000	2,320,000	1,282,000	1,151,000	1,152,000	1,153,000	1,136,000	1,128,000	1,129,000	1,129,000	1,129,000	1,131,000	1,093,000	1,103,000	1,137,000	946,000	923,000	801,000	803,000	804,000	806,000	806,000	807,000	806,000	671,000	685,000	677,000	672,000	668,000	612,000	591,000	567,000	403,000	372,000	356,000	347,000	345,000	326,000	325,000	322,000
other expense																																			-101,000	-190,000									-167,000	47,000	216,000	259,000	390,000	285,000	338,000	384,000	849,000	773,000	703,000			-524,000
comprehensive income																																									8,618,000	20,142,000	18,836,000	17,273,000	15,317,000	17,000,000	14,740,000	11,883,000	10,675,000	11,049,000	8,493,000	9,381,000	10,914,000	7,105,000	5,681,000
software licenses																																																				8,732,000	8,704,000	8,294,000	7,442,000	9,833,000	7,631,000	8,308,000	6,822,000	8,469,000	9,260,000	8,735,000	8,449,000	11,296,000	10,167,000	9,912,000	10,756,000	9,844,000	11,372,000	11,905,000	8,369,000	10,503,000	8,196,000	8,393,000	7,971,000	9,597,000	10,422,000	9,824,000	7,571,000	8,190,000	7,153,000	7,872,000	6,337,000	9,048,000	6,955,000	7,403,000	6,852,000
basic weighted-average common shares outstanding																																																								31,267,000	31,097,000	32,005,000	32,086,000	34,075,000	34,103,000	34,862,000	35,101,000	35,240,000	35,118,000	35,343,000	35,497,000	37,714,000	38,474,000	38,087,000	38,020,000	38,735,000	38,688,000	38,540,000	38,813,000	38,817,000	38,705,000	39,026,000	39,114,000	39,439,000	39,104,000	39,615,000	40,229,000	41,288,000	41,307,000	41,420,000	41,468,000
diluted weighted-average common shares outstanding																																																								33,154,000	32,960,000	33,848,000	33,720,000	35,528,000	35,410,000	36,203,000	36,655,000	36,624,000	36,487,000	36,723,000	36,747,000	39,184,000	40,019,000	39,633,000	39,527,000	41,352,000	41,395,000	41,448,000	42,066,000	41,868,000	41,898,000	41,946,000	41,894,000	42,075,000	41,771,000	41,943,000	42,735,000	44,566,000	44,350,000	44,803,000	45,062,000
non-cash legal settlement related to warrants																																																																						9,045,000
see accompanying notes.
software services and maintenance																																																																								19,376,250	26,737,000	26,180,000	24,588,000	22,989,000	22,647,000	22,949,000	21,745,000	20,300,000	20,171,000	19,963,000	19,913,000	18,304,000	18,450,000	18,662,000	17,324,000
restructuring charge																																																																																		1,260,000
amortization of acquisition intangibles																																																																																386,250	515,000	515,000	515,000	539,000	583,000	670,000	922,000
realized gain on sale of investment in h.t.e., inc.

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31

assets
current assets:
cash and cash equivalents	1,015,400,000	834,101,000	787,447,000	705,729,000	744,721,000	538,296,000	250,722,000	188,237,000	165,493,000	131,486,000	118,764,000	130,845,000	173,857,000	185,927,000	253,062,000	243,262,000	234,128,000	216,773,000	1,250,752,000	518,685,000	351,336,000	301,985,000	161,438,000	11,187,000	39,437,000	134,279,000	219,452,000	93,247,000	210,616,000	185,926,000	124,603,000	55,072,000	63,731,000	36,151,000	23,314,000	41,327,000	35,341,000	33,087,000	238,614,000	204,103,000	194,721,000	206,167,000	157,431,000	88,092,000	97,145,000	78,876,000	52,121,000	4,495,000	6,406,000	103,000	312,000	9,932,000	1,326,000	5,280,000	1,412,000	2,248,000	2,114,000	6,449,000	1,192,000	4,051,000	9,696,000	1,895,000	3,424,000	2,311,000	1,762,000	23,779,000	33,012,000	33,091,000	9,642,000	15,823,000	8,925,000	15,111,000	17,212,000	21,052,000	11,974,000	18,595,000	20,733,000	16,070,000	12,682,000	13,787,000	12,573,000	12,706,000	17,981,000	12,539,000	10,268,000
accounts receivable	638,798,000	661,986,000	714,413,000	559,873,000	587,634,000	619,508,000	700,825,000	542,441,000	619,704,000	623,613,000	638,726,000	508,683,000	577,257,000	561,780,000	597,560,000	501,200,000	538,119,000	584,156,000	330,824,000	362,667,000	405,731,000	318,144,000	347,982,000	381,379,000	298,980,000	298,912,000			216,516,000	227,127,000	206,444,000	233,831,000	163,723,000	200,334,000	188,429,000	209,483,000	137,332,000	176,360,000	129,228,000	152,178,000	105,790,000	112,660,000	111,803,000	144,234,000	82,334,000	106,570,000	90,503,000	76,220,000	100,327,000	78,218,000	100,460,000	58,888,000	90,012,000	75,456,000	90,486,000	66,474,000	81,860,000	77,139,000	89,503,000	63,076,000	81,245,000	85,613,000	83,183,000	65,596,000	76,989,000			59,271,000	63,965,000	56,919,000	61,611,000	47,219,000	58,188,000	44,632,000	52,289,000	38,750,000	49,644,000	40,291,000	46,436,000	37,441,000	45,801,000	39,057,000	42,476,000	36,727,000	38,411,000
short-term investments	81,800,000	116,720,000	104,899,000	101,674,000	23,257,000	5,985,000	7,288,000	8,707,000	10,385,000	11,623,000	19,100,000	28,810,000	37,030,000	39,360,000	34,466,000	44,973,000	49,355,000	51,223,000	59,030,000	55,595,000	52,352,000	38,250,000	32,931,000	31,184,000	36,958,000	44,306,000	52,349,000	59,459,000	65,858,000	43,159,000	39,911,000	24,709,000	20,056,000	20,273,000	23,764,000	22,642,000	18,332,000	13,423,000	9,124,000
prepaid expenses	74,734,000	80,117,000	91,096,000	92,077,000	65,135,000	68,352,000	76,726,000	76,486,000	54,700,000	60,350,000	70,783,000	70,587,000	50,859,000	59,096,000	61,938,000	63,586,000	47,546,000	52,413,000	38,106,000	29,743,000	33,343,000	33,964,000	24,544,000	26,881,000	23,839,000	33,258,000	32,790,000	34,985,000	30,262,000	27,252,000	23,219,000	23,676,000	21,445,000	21,039,000	21,384,000	22,976,000	20,984,000	22,334,000	18,044,000	18,979,000	17,352,000	17,851,000	15,561,000	15,838,000	15,158,000	13,522,000	12,107,000	10,255,000	9,000,000	8,171,000	8,159,000	8,361,000	8,348,000	8,008,000	8,238,000	7,915,000	7,801,000	7,642,000	7,470,000	7,814,000	7,921,000	7,766,000	8,811,000	8,597,000	8,602,000	7,693,000	8,787,000	8,611,000	7,726,000	6,401,000	6,407,000	7,083,000	6,864,000	5,937,000	5,829,000	5,776,000	5,158,000
income tax receivable	23,748,000	36,761,000	17,601,000		11,975,000					7,633,000				7,379,000	2,552,000		3,509,000	20,404,000	17,066,000	20,752,000	27,935,000	16,657,000	4,000			4,697,000	13,281,000	13,100,000	7,286,000	11,339,000	3,362,000	12,206,000		2,895,000	17,680,000	23,994,000	11,798,000	21,080,000				19,000		3,711,000	4,290,000	9,721,000
other current assets	9,408,000	8,160,000	8,236,000	7,585,000	8,057,000	6,423,000	6,771,000	8,550,000	10,303,000	7,286,000	9,507,000	6,738,000	8,239,000	6,608,000	7,709,000	6,878,000	5,599,000	3,959,000	4,574,000	3,157,000	3,245,000	3,220,000	2,907,000	2,939,000	3,060,000	3,406,000	2,299,000	1,944,000	2,098,000	1,997,000	2,182,000	2,784,000	2,620,000	2,268,000	2,756,000	3,529,000	1,749,000	1,931,000	6,821,000	10,590,000	238,000	339,000	446,000	598,000	933,000	787,000	4,522,000	1,035,000	1,480,000	2,521,000	3,184,000	1,403,000	2,286,000	2,483,000	4,067,000	1,896,000	3,543,000	2,019,000	3,886,000	1,493,000	1,437,000	1,767,000	2,113,000	1,551,000	1,444,000	1,771,000	3,594,000	1,556,000	1,324,000	2,487,000	2,047,000	2,360,000	2,326,000	2,783,000	1,741,000	2,150,000	2,201,000
total current assets	1,843,888,000	1,737,845,000	1,723,692,000	1,466,938,000	1,440,779,000	1,238,564,000	1,042,332,000	824,421,000	860,585,000	841,991,000	856,880,000	745,663,000	847,242,000	860,150,000	957,287,000	859,899,000	878,256,000	928,928,000	1,700,352,000	990,599,000	873,942,000	712,220,000	569,806,000	453,570,000	402,274,000	518,858,000	601,694,000	501,988,000	532,636,000	496,800,000	399,721,000	352,278,000	271,575,000	282,960,000	277,327,000	323,951,000	225,536,000	268,215,000	411,505,000	395,524,000	327,775,000	346,710,000	293,000,000	261,032,000	207,619,000	217,235,000	164,765,000	97,549,000	122,757,000	94,064,000	117,260,000	83,679,000	107,092,000	94,333,000	107,334,000	81,639,000	98,449,000	97,361,000	110,364,000	84,713,000	109,687,000	105,596,000	106,145,000	85,723,000	97,224,000	107,094,000	132,085,000	111,658,000	131,064,000	117,061,000	107,357,000	99,588,000	111,674,000	93,557,000	89,431,000	82,669,000	96,364,000	75,853,000	76,034,000	69,057,000	78,859,000	73,920,000	76,682,000	67,230,000	66,121,000
accounts receivable, long-term	5,968,000	6,855,000	7,015,000	7,205,000	7,153,000	7,331,000	7,928,000	7,340,000	8,988,000	10,123,000	8,310,000	9,282,000	8,271,000	9,213,000	12,665,000	14,742,000	14,917,000	15,744,000	23,802,000	24,459,000	21,121,000	21,394,000	20,437,000	20,511,000	22,821,000	16,020,000	12,966,000	12,387,000	11,550,000	7,536,000	3,867,000	2,333,000	2,577,000	2,480,000	2,744,000	2,579,000	3,098,000	2,777,000
operating lease right-of-use assets	35,602,000	36,564,000	34,723,000	33,289,000	31,433,000	34,741,000	36,647,000	37,874,000	39,039,000	42,513,000	46,824,000	48,627,000	50,989,000	53,202,000	40,577,000	42,369,000	40,449,000	28,230,000	19,192,000	15,321,000	16,659,000	17,992,000	20,172,000	20,349,000	20,067,000
property and equipment	160,355,000	160,626,000	161,293,000	160,972,000	163,775,000	165,272,000	167,635,000	167,121,000	169,720,000	165,737,000	165,721,000	167,683,000	172,786,000	175,196,000	177,907,000	177,508,000	176,745,000	177,712,000	169,295,000	170,833,000	174,967,000	175,460,000	169,950,000	170,150,000	164,617,000	155,177,000	156,498,000	154,464,000	154,254,000	152,315,000	149,142,000	147,956,000	142,109,000	124,268,000	120,963,000	115,886,000	114,291,000	101,112,000	68,092,000	67,908,000	67,301,000	65,910,000	66,694,000	67,160,000	66,222,000	64,844,000	63,145,000	48,170,000	45,381,000	43,017,000	42,500,000	40,721,000	40,915,000	40,780,000	40,511,000	41,386,000	34,851,000	35,321,000	35,695,000	36,190,000	35,750,000	31,961,000	28,454,000	27,874,000	26,522,000	24,773,000	13,220,000	10,030,000	9,826,000	9,556,000	8,747,000	8,506,000	7,390,000	7,233,000	6,948,000	6,193,000	5,759,000	5,841,000	6,147,000	6,486,000	6,624,000	6,697,000	6,375,000	6,238,000	6,505,000
other assets:
software development costs	68,371,000	71,777,000	74,719,000	75,837,000	76,117,000	76,580,000	74,069,000	69,795,000	67,124,000	66,434,000	61,228,000	54,565,000	48,189,000	51,092,000	43,505,000	36,311,000	22,570,000	17,179,000	12,190,000
goodwill	2,590,013,000	2,554,457,000	2,542,019,000	2,542,017,000	2,531,653,000	2,531,653,000	2,531,899,000	2,532,125,000	2,532,109,000	2,510,488,000	2,489,084,000	2,489,084,000	2,489,308,000	2,449,405,000	2,449,638,000	2,440,843,000	2,355,144,000	2,309,434,000	851,629,000	840,028,000	840,028,000	840,028,000	826,040,000	835,911,000	834,572,000	753,718,000	749,502,000	740,146,000	657,727,000	657,987,000	655,068,000	651,721,000	650,237,000	650,237,000	647,525,000	655,393,000	655,167,000	653,666,000	125,932,000	131,960,000	124,142,000	124,142,000	124,017,000	121,011,000	121,011,000	121,011,000	121,011,000	121,011,000	119,956,000	112,750,000	112,750,000	108,166,000	106,094,000	92,831,000	92,831,000	92,831,000	92,831,000	92,831,000	92,831,000	92,831,000	90,258,000	90,258,000	89,827,000	88,791,000	88,791,000	88,733,000	82,459,000	82,450,000	71,677,000	71,431,000	68,490,000	68,357,000	66,127,000	65,889,000	65,771,000	65,610,000	53,709,000	53,709,000	53,709,000	53,709,000	53,709,000	53,709,000	53,212,000	53,197,000	53,932,000
other intangibles	780,414,000	779,170,000	793,725,000	816,955,000	831,966,000	855,099,000	878,272,000	901,434,000	928,870,000	938,277,000	948,990,000	976,359,000	1,002,164,000	1,004,045,000	1,032,786,000	1,072,479,000	1,086,457,000	1,045,580,000	308,614,000	341,999,000	354,115,000	366,506,000	377,580,000	377,478,000	389,633,000	276,852,000	282,806,000	293,194,000	221,069,000	236,444,000	245,520,000	252,874,000	258,280,000	267,259,000	276,326,000	285,491,000	286,475,000	295,378,000	35,701,000	31,507,000	33,115,000	34,722,000	36,359,000	35,804,000	37,376,000	38,986,000	40,628,000	44,031,000	45,800,000	42,319,000	43,990,000	40,359,000	35,628,000	28,812,000	29,958,000	31,106,000	32,307,000							2,366,000	2,471,000	2,577,000
non-current investments	60,698,000	22,439,000	2,994,000	3,032,000	10,758,000	3,884,000	3,879,000	5,492,000	7,046,000	9,553,000	10,116,000	14,544,000	18,508,000	22,627,000	26,464,000	34,342,000	64,916,000	79,057,000	112,910,000	75,278,000
other non-current assets	93,599,000	87,636,000	85,575,000	85,889,000	86,381,000	83,384,000	76,818,000	63,153,000	63,182,000	52,313,000	48,396,000	49,828,000	49,960,000	50,443,000	46,217,000	45,313,000	43,484,000	39,139,000	33,806,000	33,646,000																				3,744,000
liabilities and shareholders' equity
current liabilities:
accounts payable	174,653,000	147,858,000	171,582,000	171,163,000	156,817,000	145,386,000	150,444,000	145,168,000	146,339,000	132,661,000	118,534,000	122,361,000	104,813,000	108,121,000	130,998,000	128,284,000	100,569,000	106,727,000	12,386,000	11,073,000	8,640,000	12,958,000	9,060,000	8,062,000	6,011,000	6,910,000	4,597,000	4,839,000	6,421,000	8,174,000	4,563,000	9,448,000	6,130,000	7,295,000	5,992,000	6,574,000	6,316,000	6,789,000	4,385,000	4,385,000	5,373,000	4,119,000	3,397,000	2,584,000	2,572,000	2,533,000	6,974,000	2,528,000	3,167,000	2,169,000	1,768,000	2,582,000	3,211,000	3,736,000	2,331,000	2,446,000	2,626,000	1,868,000	2,929,000	3,067,000	3,807,000	4,186,000	2,620,000	3,444,000	2,617,000	2,590,000	2,765,000	4,292,000	3,323,000	3,759,000	3,639,000	3,121,000	5,063,000	3,655,000	3,687,000	2,724,000	3,330,000	2,529,000	2,762,000	2,642,000	2,890,000	2,441,000	4,570,000	2,637,000	2,378,000
accrued liabilities	190,693,000	173,095,000	172,610,000	127,578,000	197,709,000	160,689,000	153,032,000	106,446,000	158,558,000	134,407,000	126,557,000	104,522,000	131,941,000	134,313,000	133,910,000	140,938,000	180,281,000	134,904,000	86,522,000	81,688,000	56,368,000	59,765,000	69,781,000	70,894,000	63,824,000	66,480,000	66,020,000	52,959,000	44,996,000	64,675,000	57,583,000	46,006,000	41,226,000	55,989,000	54,184,000	49,875,000	33,260,000	49,156,000	37,199,000	34,810,000	22,759,000	39,508,000	32,120,000	28,602,000	19,512,000	32,839,000	23,162,000	21,900,000	26,078,000	22,358,000	22,523,000	14,933,000	24,751,000	21,202,000	20,466,000	19,908,000	19,433,000	40,882,000	16,966,000	17,369,000	26,110,000	25,123,000	20,469,000	18,536,000	22,913,000	26,265,000	21,183,000	16,291,000	18,905,000	17,109,000	15,862,000	14,714,000	17,735,000	16,516,000	14,361,000	13,698,000	16,027,000	13,096,000	13,482,000	12,593,000	13,660,000	12,573,000	11,987,000	11,613,000	14,220,000
operating lease liabilities	9,598,000	9,661,000	8,998,000	9,281,000	9,643,000	10,653,000	11,179,000	11,147,000	11,060,000	11,527,000	11,381,000	11,413,000	10,736,000	10,581,000	10,363,000	11,186,000	10,125,000	9,666,000	5,913,000	5,780,000	6,217,000	6,373,000	6,413,000	6,039,000	5,777,000
deferred revenue	780,838,000	761,050,000	720,497,000	642,379,000	701,438,000	682,422,000	652,302,000	571,871,000	632,914,000	600,439,000	565,840,000	497,395,000	568,538,000	529,233,000	528,588,000	454,678,000	495,250,000	484,482,000	420,535,000	436,504,000	423,037,000	365,959,000	391,560,000	368,488,000	319,900,000	350,512,000	326,421,000	316,084,000	268,132,000	309,461,000	297,163,000	304,128,000	270,208,000	298,217,000	288,316,000	296,481,000	250,108,000	281,627,000	200,890,000	201,549,000	164,706,000	189,212,000	185,844,000	184,578,000	139,298,000	156,738,000	151,510,000	125,385,000	140,550,000	120,127,000	125,721,000	109,381,000	123,678,000	108,114,000	110,455,000	91,792,000	102,590,000	98,357,000	97,838,000	85,828,000	99,116,000	99,670,000	92,441,000	87,042,000	95,773,000	91,029,000	92,973,000	83,426,000	73,714,000	66,655,000	64,872,000	57,399,000	62,387,000	52,845,000	55,719,000	48,429,000	51,304,000	43,697,000	43,562,000	38,647,000	41,541,000	38,837,000	39,588,000	34,489,000	34,020,000
current portion of convertible senior notes due 2026	599,663,000	599,231,000	598,798,000	598,366,000
total current liabilities	1,755,445,000	1,690,895,000	1,672,485,000	1,561,300,000	1,065,607,000	1,021,635,000	987,332,000	872,925,000	1,001,138,000	909,034,000	854,217,000	835,028,000	889,695,000	812,248,000	833,859,000	766,460,000	816,225,000	765,779,000	525,356,000	535,045,000	494,262,000	445,055,000	476,814,000	453,732,000	403,380,000	423,902,000	397,038,000	373,882,000	319,549,000	382,310,000	359,309,000	359,582,000	322,245,000	361,501,000	348,492,000	352,930,000	289,684,000	337,572,000	242,474,000	240,744,000	197,654,000	232,839,000	221,361,000	215,764,000	161,382,000	192,110,000	181,646,000	149,813,000	169,795,000	144,654,000	150,012,000	129,022,000	151,640,000	133,052,000	133,252,000	115,594,000	124,649,000	141,107,000	132,383,000	107,648,000	129,253,000	131,080,000	130,955,000	119,277,000	129,469,000	119,884,000	116,921,000	105,242,000	96,574,000	87,523,000	85,088,000	76,312,000	85,185,000	73,016,000	73,767,000	65,764,000	70,950,000	59,322,000	59,806,000	54,627,000	59,114,000	53,851,000	56,469,000	49,291,000	51,148,000
convertible senior notes due 2026					597,934,000	597,502,000	597,069,000	596,638,000	596,206,000	595,775,000	595,345,000	594,914,000	594,484,000	594,054,000	593,624,000	593,194,000	592,335,000
deferred revenue, long-term	20,988,000	22,217,000	22,878,000	22,376,000	22,376,000				291,000	727,000	1,164,000	1,600,000	2,037,000	2,473,000			53,000	68,000	83,000	118,000	167,000	167,000	241,000	551,000	442,000	424,000	493,000	785,000	641,000	1,274,000	1,468,000	1,643,000	1,908,000	2,140,000	2,924,000	3,704,000	4,561,000	3,115,000
deferred income taxes	95,063,000	75,829,000	36,437,000	36,448,000	47,503,000	36,660,000	41,584,000	54,274,000	78,590,000	105,002,000	109,247,000	130,367,000	148,891,000	203,204,000	216,947,000	230,292,000	227,537,000	220,680,000	37,239,000	45,985,000	44,713,000	45,774,000	40,303,000	39,749,000	42,779,000	41,791,000	44,965,000	44,803,000	44,220,000	38,914,000	54,563,000	59,682,000	64,691,000	68,779,000	85,095,000	92,110,000	91,775,000		9,674,000	9,674,000	9,674,000	9,674,000	7,759,000	7,759,000	7,759,000	7,759,000	5,512,000	5,544,000	5,544,000	5,051,000	5,095,000	5,095,000	5,095,000	3,106,000	3,106,000	3,106,000	3,106,000	4,112,000	3,288,000	3,279,000	3,338,000	2,555,000	2,589,000	2,586,000	2,570,000	1,839,000	1,922,000	1,922,000	2,355,000	2,579,000	2,579,000	2,579,000	2,579,000	2,128,000	2,128,000	2,128,000	2,128,000	1,611,000	1,611,000	1,611,000	1,611,000	1,536,000	1,536,000	1,536,000	1,536,000
operating lease liabilities, long-term	33,347,000	34,556,000	33,922,000	32,455,000	30,791,000	33,674,000	35,624,000	37,631,000	39,822,000	42,098,000	44,483,000	46,567,000	48,049,000	49,759,000	36,018,000	38,403,000	37,348,000	22,118,000	16,636,000	12,870,000	14,126,000	15,548,000	18,134,000	18,769,000	18,956,000
other long-term liabilities	31,276,000	31,105,000	25,366,000	26,851,000	27,382,000	31,925,000	25,762,000	24,152,000	22,621,000	22,547,000	19,113,000	17,423,000	16,967,000	14,199,000	8,807,000	8,735,000	3,132,000	4,902,000
total liabilities	1,936,119,000	1,854,602,000	1,791,088,000	1,679,430,000	1,791,593,000	1,721,396,000	1,687,371,000	1,585,620,000	1,738,668,000	1,784,578,000	1,867,298,000	1,869,502,000	2,063,028,000	2,128,075,000	2,328,719,000	2,336,072,000	2,482,165,000
commitments and contingencies
shareholders' equity:
preferred stock, 10.00 par value; 1,000,000 shares authorized; none issued
common stock, 0.01 par value...	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000			481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000	481,000
additional paid-in capital	1,616,119,000	1,645,848,000	1,620,258,000	1,581,856,000	1,539,301,000	1,491,935,000	1,425,536,000	1,385,095,000	1,354,787,000	1,309,479,000	1,272,315,000	1,239,945,000	1,209,725,000	1,164,359,000	1,128,821,000	1,098,933,000	1,010,212,000	962,557,000	941,960,000	872,963,000	843,998,000	798,089,000	692,586,000	715,920,000	731,073,000	731,435,000	724,935,000	686,782,000	652,909,000	626,867,000	604,324,000	586,037,000	569,763,000	556,663,000	595,162,000	605,179,000	608,496,000	607,755,000	230,840,000	221,838,000	209,910,000	201,389,000	184,693,000	186,418,000	187,379,000	182,176,000	166,297,000	156,604,000	154,018,000	155,248,000	153,988,000	154,012,000	152,859,000	153,766,000	152,330,000	153,969,000	153,576,000	154,981,000	153,887,000	155,039,000	153,734,000	153,000,000	152,406,000	151,601,000	151,245,000	150,561,000	161,356,000	150,138,000	149,568,000	148,641,000	149,615,000	149,398,000	151,627,000	151,463,000	151,508,000	151,123,000	151,515,000	152,019,000	152,188,000	152,280,000	152,870,000	153,309,000	154,185,000	155,673,000	156,201,000
accumulated other comprehensive loss, net of tax	-11,000	-54,000	-115,000	-83,000	-157,000	-163,000	-218,000	-273,000	-326,000	-522,000	-785,000	-750,000	-844,000	-846,000	-809,000	-743,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-46,000	-209,000	-268,000	-268,000	-273,000	-355,000	-355,000	-355,000	-275,000	-275,000	-275,000	-275,000	-277,000	-312,000	-296,000	-405,000	-359,000	-422,000	-417,000	-387,000	-167,000				-4,000	-18,000	-17,000	-10,000
retained earnings	2,182,402,000	2,116,871,000	2,032,478,000	1,947,851,000	1,866,799,000	1,801,578,000	1,725,681,000	1,657,943,000	1,603,773,000	1,564,870,000	1,517,859,000	1,468,729,000	1,437,854,000	1,406,777,000	1,353,544,000	1,313,598,000	1,218,832,000	1,174,662,000	1,149,132,000	1,058,062,000	1,018,778,000	964,886,000	870,546,000	830,156,000	798,157,000	771,925,000	740,373,000	701,449,000	662,288,000	599,821,000	538,023,000	499,760,000	468,182,000	435,876,000	384,234,000	361,970,000	343,098,000	326,019,000	317,401,000	297,259,000	278,423,000	261,150,000	245,833,000	228,833,000	214,093,000	202,210,000	191,698,000	171,602,000	163,109,000	153,733,000	142,901,000	135,796,000	130,115,000	121,416,000	113,910,000	108,286,000	102,558,000	95,348,000	88,625,000	82,376,000	77,504,000	70,848,000	63,373,000	56,500,000	50,494,000	45,363,000	39,004,000	38,758,000	35,632,000	29,442,000	24,282,000	20,532,000	18,131,000			5,781,000	3,769,000	648,000
treasury stock	-96,202,000	-160,379,000	-18,435,000	-17,401,000	-18,002,000	-18,719,000	-19,372,000	-20,111,000	-20,720,000	-21,457,000	-21,619,000	-22,272,000	-22,827,000	-23,473,000	-23,710,000	-24,535,000	-28,706,000	-29,663,000	-30,534,000	-33,315,000	-33,883,000	-50,578,000	-43,970,000	-124,881,000	-170,920,000	-178,949,000	-43,617,000	-48,377,000	-54,418,000	-60,029,000	-65,004,000	-68,630,000	-71,543,000	-77,449,000	-97,576,000	-138,276,000	-160,040,000	-75,352,000	-117,581,000	-118,915,000	-122,380,000	-126,001,000	-134,970,000	-149,207,000	-135,203,000	-138,502,000	-150,639,000	-168,221,000	-172,041,000	-191,180,000	-197,408,000	-202,187,000	-204,990,000	-210,676,000	-161,996,000	-154,063,000	-149,368,000	-150,617,000	-105,202,000	-98,652,000	-96,956,000	-99,513,000	-93,107,000	-94,471,000	-87,571,000			-56,586,000	-48,470,000	-44,983,000	-50,180,000	-44,069,000	-44,354,000	-45,121,000	-46,197,000	-40,769,000	-43,568,000	-43,755,000	-39,639,000	-37,487,000	-30,527,000	-26,592,000	-24,878,000	-24,603,000	-24,191,000
total shareholders' equity	3,702,789,000	3,602,767,000	3,634,667,000	3,512,704,000	3,388,422,000	3,275,112,000	3,132,108,000	3,023,135,000	2,937,995,000	2,852,851,000	2,768,251,000	2,686,133,000	2,624,389,000	2,547,298,000	2,458,327,000	2,387,734,000	2,200,773,000	2,107,991,000	2,060,993,000	1,898,145,000	1,829,328,000	1,712,832,000	1,519,597,000	1,421,630,000	1,358,745,000	1,324,846,000	1,422,126,000	1,340,289,000	1,261,214,000	1,167,094,000	1,077,778,000	1,017,602,000	966,837,000	915,525,000	882,255,000	829,308,000	791,989,000	858,857,000	431,095,000	400,617,000	366,388,000	336,973,000																								135,303,000	142,298,000
current income tax payable				12,533,000		22,485,000	20,375,000	38,293,000	2,466,000		1,905,000	69,337,000				1,374,000								249,000	7,868,000								4,681,000
current portion of term loans									49,801,000	30,000,000	30,000,000	30,000,000	30,000,000	30,000,000	30,000,000	30,000,000	30,000,000	30,000,000
term loans										109,395,000	243,729,000	243,603,000	362,905,000	452,138,000	639,464,000	698,988,000	805,535,000	862,559,000
income tax payable													43,667,000																												4,816,000
revolving line of credit																								15,000,000	85,000,000									10,000,000	34,000,000	135,000,000	140,000,000	66,000,000											18,000,000	28,000,000	65,700,000	56,000,000	60,700,000	58,000,000	31,500,000	22,500,000	26,500,000	16,500,000
revolving credit facility																		65,000,000
total assets																	4,682,938,000	4,641,003,000	3,231,790,000	2,492,163,000	2,382,596,000	2,219,376,000	2,055,089,000	1,949,431,000	1,909,302,000		1,864,622,000	1,759,759,000	1,625,624,000		1,493,118,000	1,438,509,000	1,355,681,000
total liabilities and shareholders' equity																	4,682,938,000	4,641,003,000	3,231,790,000	2,492,163,000	2,382,596,000	2,219,376,000	2,055,089,000	1,949,431,000	1,909,302,000		1,864,622,000	1,759,759,000	1,625,624,000		1,493,118,000	1,438,509,000	1,355,681,000
convertible senior notes																		591,906,000	591,483,000
non-current investments and other assets																					101,764,000	85,776,000	71,104,000	71,462,000	75,318,000	70,338,000	61,156,000	57,580,000	48,388,000	38,510,000	39,800,000	31,347,000	30,903,000	15,741,000	27,881,000	29,752,000	33,442,000	20,422,000	21,080,000
accounts receivable [less allowance for doubtful accounts of 5,110 in 2018 and 5,427 in 2017]																											281,523,000
accounts receivable [less allowance for doubtful accounts of 5,105 in 2018 and 5,427 in 2017]																												299,253,000
cost method investment																																		15,000,000				15,000,000	15,000,000	15,000,000
see accompanying notes.
accounts receivable, long-term portion																																							1,072,000	391,000	311,000	1,761,000	1,454,000	1,127,000	526,000	588,000	1,098,000	1,621,000	1,187,000	681,000	576,000	1,400,000	2,095,000	1,212,000	631,000	1,403,000	1,231,000	1,287,000	774,000	1,109,000	1,018,000	483,000	311,000	292,000	197,000	681,000	460,000	529,000	398,000	62,000	1,121,000	1,137,000	1,675,000	1,500,000	837,000	626,000	1,547,000
sundry and other																																									15,738,000	737,000
non-current investments available-for-sale																																													1,280,000	1,288,000	2,078,000	2,012,000	2,037,000	2,029,000	1,903,000	1,953,000	1,953,000	2,101,000	2,101,000	2,126,000	2,126,000	2,149,000	2,094,000	2,145,000	1,976,000	2,097,000	2,800,000	3,733,000	3,779,000	4,893,000	5,650,000	5,825,000
sundry																																											739,000	683,000	207,000	536,000	690,000	980,000	1,197,000	1,234,000	1,467,000	1,485,000	1,614,000	1,667,000	1,788,000	1,912,000	2,237,000	2,179,000	209,000	235,000	210,000	224,000	227,000	241,000	227,000	220,000	191,000	600,000	175,000	188,000	149,000	155,000	166,000	178,000	187,000	176,000	205,000	251,000	205,000	208,000	186,000	265,000	292,000	331,000	314,000
liabilities and shareholders’ equity
shareholders’ equity:
total shareholders’ equity																																											295,991,000	266,479,000	266,704,000	246,319,000	207,628,000	160,198,000	145,299,000	118,009,000	99,607,000	87,747,000	78,110,000	64,712,000	104,450,000	108,398,000	106,972,000	99,916,000	137,479,000	138,948,000	134,358,000	124,457,000	122,731,000	113,694,000	114,262,000			132,791,000	137,211,000	133,577,000	124,180,000	126,325,000	125,875,000	120,777,000	115,333,000	116,616,000	112,197,000	109,393,000	111,097,000	111,320,000	118,400,000	119,680,000	120,255,000	119,073,000	117,907,000
short-term investments available-for-sale																																												800,000							50,000		25,000		25,000		25,000		25,000		50,000		25,000		775,000	500,000	50,000	2,125,000	41,590,000	28,390,000	21,326,000	20,774,000	19,543,000	12,025,000	10,470,000	10,270,000	11,750,000	10,675,000	9,425,000	11,450,000	13,832,000	16,359,000	9,736,000	11,747,000	11,669,000
preferred stock, 10.00 par value; 1,000,000 shares authorized, none issued
preferred stock, 10.00 par value; 1,000,000 shares authorized,none issued
income taxes payable																																																				2,126,000				1,448,000				1,384,000	220,000			2,755,000	166,000			1,233,000	632,000		715,000	1,078,000				913,000	289,000			745,000	1,023,000		324,000	552,000	530,000
restricted cash equivalents																																																											5,000,000	5,000,000	6,000,000	6,000,000	6,000,000	5,082,000	5,082,000	5,082,000	5,082,000	5,082,000	4,462,000	4,462,000	4,462,000	4,462,000	4,962,000
customer related intangibles																																																										28,613,000	29,399,000	30,184,000	25,490,000	26,138,000	26,635,000	26,805,000	27,438,000	28,071,000	25,047,000	25,601,000	17,706,000	18,080,000	17,494,000	17,821,000	17,502,000	17,816,000	17,319,000	17,617,000	17,696,000	17,986,000	18,276,000	18,565,000	18,855,000
software																																																										3,227,000	3,751,000	4,276,000	4,218,000	4,717,000	5,106,000	5,176,000	5,112,000	7,034,000	7,882,000	9,425,000	9,588,000	11,749,000	13,271,000	14,767,000	14,554,000	16,062,000	17,514,000	19,051,000	17,645,000	19,260,000	20,690,000	22,053,000	23,385,000	24,081,000	25,024,000	25,880,000	26,390,000
other acquisition related intangibles																																																										1,792,000	1,882,000	1,972,000
short-term revolving line of credit																																																											14,650,000			2,101,000	15,425,000	7,500,000
trade name																																																													2,063,000	2,155,000	2,261,000				1,294,000	1,330,000	1,074,000	1,103,000	1,131,000	1,160,000	1,188,000	1,217,000	1,246,000	1,235,000	1,262,000					1,396,000	1,422,000	1,450,000
short-term obligation																																																																	8,000,000
accounts receivable (less allowance for losses of 1,841 in 2008
and 1,851 in 2007)																																																																		66,430,000	77,633,000
preferred stock, 10.00 par value; 1,000,000 shares authorized,
none issued
48,147,969 shares issued in 2008 and 2007																																																																		481,000	481,000
and 2007, respectively																																																																		-60,935,000	-58,543,000
accounts receivable (less allowance for losses of 1,568 in 2008
warrants settlement receivable																																																																			2,005,000
restricted certificate of deposit																																																																										5,000,000	5,000,000	5,000,000	4,750,000				7,500,000				7,500,000
accumulated earnings																																																																										13,954,000	9,541,000
prepaid expenses and other current assets																																																																														5,796,000	5,423,000	4,768,000	5,042,000	4,262,000	4,953,000	4,681,000	4,237,000
income taxes receivable																																																																														1,410,000	457,000
certificate of deposit																																																																														7,500,000	7,500,000	7,500,000		7,500,000	7,500,000	7,500,000
trade name and other acquisition intangibles																																																																														1,288,000	1,315,000	1,342,000	1,369,000				1,476,000
accumulated deficit																																																																															-1,933,000	-3,954,000	-4,424,000	-7,454,000	-9,486,000	-12,461,000	-14,552,000
minority interest																																																																																			36,000	4,000	15,000
customer base																																																																																		19,145,000	19,435,000	19,724,000	20,014,000
accumulated other comprehensive loss, net of income taxes																																																																																		-64,000	-47,000	-17,000
investment in h.t.e., inc.
net current liabilities of discontinued operations
long-term obligations, less current portion
accumulated other comprehensive income, net of tax																																																																																					-32,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31

cash flows from operating activities:
net income	65,531,000	84,393,000	84,627,000	81,052,000	65,221,000	75,897,000	67,738,000	54,170,000	38,903,000	47,011,000	49,130,000	30,875,000	31,077,000	53,233,000	39,946,000	39,984,000	54,782,000	44,170,000	25,530,000	36,976,000	54,094,000	39,284,000	53,892,000	47,550,000	46,790,000	40,390,000	31,999,000	27,348,000	31,552,000	38,924,000	39,161,000	37,825,000	61,798,000	38,263,000	31,578,000	32,306,000	51,642,000	22,264,000	18,872,000	17,079,000	8,618,000	20,142,000	18,836,000	17,273,000	15,317,000	17,000,000	14,740,000	11,883,000	10,512,000	8,493,000	9,376,000	10,832,000	7,105,000	5,681,000	8,699,000	7,506,000	5,624,000	5,728,000	7,210,000	6,723,000	6,249,000	4,872,000	6,656,000	7,475,000	6,873,000	6,006,000	5,131,000	6,359,000	246,000	3,126,000	6,190,000	5,160,000	3,750,000	2,401,000	4,177,000	4,413,000	3,760,000	2,012,000	3,121,000	2,581,000	2,021,000	470,000	3,030,000	2,032,000	2,975,000	2,091,000
adjustments to reconcile net income to cash from operating activities:
depreciation and amortization	34,427,000	34,988,000	34,322,000	34,621,000	34,671,000	34,530,000	34,139,000	40,097,000	39,881,000	38,450,000	37,636,000	38,112,000	42,122,000	41,084,000	37,717,000	38,149,000	37,760,000	36,888,000	39,876,000	21,100,000	20,911,000	20,476,000	20,285,000	19,985,000	20,125,000	19,803,000	19,436,000	17,308,000	16,132,000	15,978,000	15,537,000	14,112,000	13,829,000	13,730,000	13,267,000	13,099,000	12,780,000	12,671,000	12,674,000	12,176,000	7,988,000	4,102,000	3,771,000	3,713,000	3,669,000	3,655,000	3,625,000	3,656,000	3,693,000	3,322,000	3,095,000	3,280,000	3,310,000	3,026,000	2,898,000	2,559,000	2,634,000	2,585,000	2,711,000	2,759,000	2,669,000	2,649,000	2,432,000	2,331,000	2,402,000	2,332,000	3,622,000	3,068,000	2,985,000	2,936,000	3,416,000	2,641,000	2,605,000	2,549,000	2,510,000	2,471,000	2,474,000	2,647,000	2,586,000	2,518,000	2,567,000	2,772,000	2,799,000	2,819,000	2,867,000	2,901,000
gains from sale of investments															2,000	-55,000
share-based compensation expense	38,645,000	36,669,000	38,302,000	37,660,000	34,353,000	31,187,000	30,407,000	26,866,000	27,433,000	26,981,000	26,028,000	27,896,000	24,994,000	26,912,000	25,800,000	25,279,000	24,366,000	29,461,000	25,175,000	25,724,000	13,253,000	18,424,000	18,386,000	17,302,000	15,598,000	14,887,000	15,066,000	14,416,000	14,774,000	14,476,000	12,933,000	10,557,000	9,980,000	9,791,000	8,901,000	8,676,000	8,399,000	7,656,000	7,212,000	6,480,000	5,723,000	5,598,000	4,603,000	4,258,000	3,932,000	3,885,000	3,540,000	3,462,000	3,114,000	2,575,000	1,905,000	1,903,000	1,768,000	1,835,000	1,668,000	1,616,000	1,520,000	1,449,000	1,515,000	1,544,000	1,608,000	1,465,000	1,392,000	1,288,000	1,238,000	1,127,000	1,101,000	1,098,000	905,000	716,000	660,000	632,000	575,000	498,000
provision (reductions in allowance) for losses and sales adjustments - accounts receivable
amortization of operating lease right-of-use assets	2,346,000	2,300,000	2,572,000	2,288,000	1,670,000	2,397,000	2,343,000	2,522,000	4,430,000	5,689,000	2,765,000	3,804,000
deferred income tax provision
other	-2,000	43,000			-21,000	38,000	225,000	-35,000	77,000	-47,000	-54,000	499,000	117,000	174,000	181,000	-29,000	-79,000																																																						100,000	-3,000	5,000	38,000	12,000	9,000	-49,000	34,000	-41,000	-48,000	9,000	54,000	-5,000	32,000	101,000	-32,000
changes in operating assets and liabilities, exclusive of effects of acquired companies:
accounts receivable	10,873,000	53,627,000	-154,364,000	28,176,000	36,696,000	81,884,000	-159,161,000	69,376,000	-2,110,000	13,740,000	-129,071,000	77,563,000	-17,247,000	39,233,000	-94,033,000	20,637,000	15,205,000	48,715,000	-95,629,000	49,317,000	-20,127,000	39,726,000	-87,314,000	56,982,000	-30,194,000	33,514,000	-78,680,000	9,622,000	-22,378,000	17,477,000	-79,097,000	30,227,000	-28,461,000	26,251,000	-69,862,000	36,514,000	-15,586,000	20,889,000	-71,280,000	35,750,000	-13,816,000	22,268,000	-44,944,000	8,320,000	-3,061,000	32,352,000	-62,501,000	24,298,000	-16,286,000	22,558,000	-21,256,000	22,137,000	-39,743,000	32,037,000	-14,967,000	14,449,000	-23,240,000	15,214,000	-5,826,000	11,851,000	-26,092,000	18,078,000	2,295,000	-2,470,000	-17,400,000	11,298,000	-11,916,000	12,749,000	-18,293,000	5,607,000	-8,107,000	9,117,000	-14,376,000	11,791,000	-15,896,000
income tax receivable													51,181,000	-4,827,000	-3,926,000	19,512,000	-13,913,000	16,895,000	2,743,000	4,533,000	-847,000	7,183,000	-11,278,000	-10,175,000																							51,000	7,695,000
prepaid expenses and other current assets	-1,990,000	8,818,000	442,000	-26,154,000	-1,618,000	4,429,000	-12,346,000	-20,240,000	-8,074,000	8,528,000	-1,741,000	-18,381,000	7,478,000	-535,000	-552,000	-5,481,000	-13,407,000	-22,000	-1,173,000	-9,261,000	-971,000	2,537,000	1,316,000	-11,186,000	-1,346,000	1,842,000	-6,408,000	-3,064,000	-1,571,000	1,798,000	-2,148,000	1,333,000	-3,191,000	1,278,000	-3,427,000	-557,000	1,060,000	2,604,000	-3,509,000	2,074,000	-3,771,000	1,266,000	-1,312,000	763,000	-2,126,000	499,000	-522,000	-1,547,000	-1,404,000	-1,204,000	412,000	-40,000	79,000	-341,000	441,000	159,000	-471,000	-343,000	-321,000	-415,000	660,000	180,000	83,000	1,166,000	290,000	-162,000	-853,000	883,000	110,000	-478,000	-808,000	130,000	933,000	-559,000	-905,000
accounts payable	26,795,000	-23,724,000	419,000	14,346,000	11,431,000	-5,058,000	5,276,000	-1,140,000	13,637,000	14,127,000	-3,826,000	17,547,000	-3,787,000	-22,880,000	2,836,000	6,294,000	19,436,000	-6,912,000	-55,179,000	-2,292,000	2,937,000	2,434,000	-4,318,000	-2,020,000	5,855,000	998,000	2,051,000	-1,501,000	2,313,000	-130,000	-2,847,000	-1,752,000	3,611,000	-4,885,000	3,318,000	-1,166,000	1,304,000	-681,000	237,000	-473,000	1,021,000	2,000	-43,000	-328,000	722,000	813,000	12,000	39,000	-1,415,000	-579,000	867,000	401,000	-1,008,000	-629,000	-535,000	1,405,000	-115,000	-180,000	758,000	-1,061,000	-138,000	-740,000	-379,000	1,566,000	-824,000	827,000	-37,000	-157,000	-1,588,000	912,000	-490,000	125,000	485,000	-2,075,000	1,449,000
operating lease liabilities	-2,639,000	-2,844,000	-2,821,000	-2,842,000	-2,258,000	-2,966,000	-2,965,000	-3,461,000	-3,309,000	-2,900,000	-3,078,000	-2,246,000	-3,072,000	-2,802,000	-3,451,000	-3,071,000	-3,048,000	457,000	-2,722,000	-1,639,000	-1,428,000	-1,746,000	-1,632,000	-1,743,000	-1,583,000
accrued liabilities	18,300,000	-1,909,000	47,763,000	-67,490,000	36,877,000	7,683,000	46,833,000	-48,006,000	23,676,000	4,476,000	21,868,000	-36,951,000	-547,000	926,000	5,919,000	-30,642,000	-29,639,000	35,034,000	-21,252,000	-8,965,000	-3,406,000	25,412,000	-6,926,000	-12,210,000	2,895,000	-1,395,000	4,681,000	-4,665,000	-3,968,000	13,708,000	5,767,000	-17,952,000	4,732,000	12,379,000	4,878,000	-15,939,000	2,202,000	3,632,000	16,621,000	-11,738,000	3,839,000	2,336,000	10,738,000	-16,423,000	8,141,000	2,422,000	9,091,000	-13,328,000	9,677,000	-7,031,000	1,733,000	-111,000	7,227,000	-9,379,000	4,909,000	-1,219,000	705,000	492,000	-1,649,000	4,292,000	-395,000	-7,448,000	-514,000	4,270,000	1,377,000	-3,173,000	-135,000	4,409,000	993,000	-1,847,000	-330,000	823,000	1,132,000	-3,244,000	1,075,000
deferred revenue	12,971,000	38,789,000	78,630,000	-60,099,000	41,392,000	30,120,000	80,597,000	-61,334,000	30,156,000	31,928,000	68,008,000	-71,579,000	38,868,000	3,118,000	74,025,000	-56,551,000	15,265,000	8,741,000	62,937,000	-42,069,000	24,757,000	13,417,000	57,078,000	-46,568,000	17,236,000	23,727,000	46,626,000	-43,147,000	23,161,000	9,910,000	41,646,000	-31,114,000	10,592,000	-7,726,000	34,638,000	-28,241,000	7,200,000	3,459,000	44,910,000	-30,451,000	30,710,000	-659,000	36,187,000	-24,507,000	3,369,000	752,000	45,280,000	-17,440,000	5,228,000	-15,165,000	19,759,000	-5,594,000	14,955,000	-15,727,000	9,338,000	-2,341,000	18,663,000	-10,798,000	4,233,000	441,000	12,089,000	-13,289,000	-554,000	6,982,000	5,368,000	-8,731,000	4,744,000	-3,016,000	9,547,000	6,056,000	7,059,000	-1,616,000	7,479,000	-5,618,000	9,542,000
other long-term liabilities	-6,267,000	5,739,000	-1,485,000	1,171,000	-4,543,000	6,163,000	1,610,000	1,531,000	-5,909,000	3,387,000	1,690,000	456,000	-1,374,000	5,392,000
net cash from operating activities	243,883,000	255,191,000	98,311,000	56,158,000	224,774,000	263,716,000	64,304,000	71,839,000	147,419,000	177,496,000	-19,184,000	74,709,000	121,857,000	129,378,000	76,679,000	53,541,000	115,010,000	205,387,000	-20,347,000	71,703,000	88,761,000	169,808,000	39,814,000	56,706,000	76,193,000	130,073,000	24,497,000	23,957,000	70,850,000	112,123,000	22,599,000	44,631,000	53,374,000	92,806,000	1,396,000	48,179,000	70,621,000	67,091,000			19,100,000	55,100,000			28,306,000	66,303,000	12,268,000	16,560,000	7,389,000	17,084,000	16,414,000	33,829,000	-9,659,000	18,084,000	11,330,000			17,467,000	8,086,000			6,934,000	11,692,000	22,916,000	-3,873,000	12,206,000	2,403,000	27,460,000	171,000	17,768,000	9,573,000	15,757,000	1,909,000	6,872,000	4,117,000	12,058,000	625,000	10,004,000	4,487,000	9,496,000	-269,000	7,473,000	3,569,000	5,640,000	7,296,000	5,654,000
capital expenditures	-4,317,000	-3,876,000	-5,487,000	-2,335,000	-3,801,000	-2,884,000	-6,568,000	-7,282,000	-8,013,000	-6,136,000	-4,350,000	-2,020,000	-5,088,000	-4,684,000	-8,178,000	-4,579,000	-13,149,000	-6,547,000	-7,659,000	-6,564,000	-3,626,000	-2,796,000	-6,919,000	-9,349,000	-8,403,000	-4,781,000	-11,732,000	-12,320,000	-3,964,000	-8,508,000	-6,057,000	-8,895,000	-5,323,000	-7,611,000	-10,303,000	-19,820,000	-8,197,000	-7,570,000			-3,976,000	-2,399,000			-1,306,000	-1,560,000	-2,847,000	-3,630,000	-6,596,000	-5,089,000	-2,751,000	-2,017,000	-3,286,000	-1,048,000	-2,352,000			-7,804,000	-733,000			-2,238,000	-3,720,000	-4,094,000	-2,205,000	-2,333,000	-2,768,000	-12,463,000	-4,021,000	-891,000	-1,103,000	-977,000	-857,000	-741,000	-800,000	-968,000	-1,365,000	-955,000	-538,000	-311,000	-264,000	-621,000	-633,000	-512,000	-765,000	-357,000
free cash flows	239,566,000	251,315,000	92,824,000	53,823,000	220,973,000	260,832,000	57,736,000	64,557,000	139,406,000	171,360,000	-23,534,000	72,689,000	116,769,000	124,694,000	68,501,000	48,962,000	101,861,000	198,840,000	-28,006,000	65,139,000	85,135,000	167,012,000	32,895,000	47,357,000	67,790,000	125,292,000	12,765,000	11,637,000	66,886,000	103,615,000	16,542,000	35,736,000	48,051,000	85,195,000	-8,907,000	28,359,000	62,424,000	59,521,000			15,124,000	52,701,000			27,000,000	64,743,000	9,421,000	12,930,000	793,000	11,995,000	13,663,000	31,812,000	-12,945,000	17,036,000	8,978,000			9,663,000	7,353,000			4,696,000	7,972,000	18,822,000	-6,078,000	9,873,000	-365,000	14,997,000	-3,850,000	16,877,000	8,470,000	14,780,000	1,052,000	6,131,000	3,317,000	11,090,000	-740,000	9,049,000	3,949,000	9,185,000	-533,000	6,852,000	2,936,000	5,128,000	6,531,000	5,297,000
cash flows from investing activities:
additions to property and equipment	-4,317,000	-3,876,000	-5,487,000	-2,335,000	-3,801,000	-2,884,000	-6,568,000	-7,282,000	-8,013,000	-6,136,000	-4,350,000	-2,020,000	-5,088,000	-4,684,000	-8,178,000	-4,579,000	-13,149,000	-6,547,000	-7,659,000	-6,564,000	-3,626,000	-2,796,000	-6,919,000	-9,349,000	-8,403,000	-4,781,000	-11,732,000	-12,320,000	-3,964,000	-8,508,000	-6,057,000	-8,895,000	-5,323,000	-7,611,000	-10,303,000	-19,820,000	-8,197,000	-7,570,000	-5,237,000	-16,722,000	-3,976,000	-2,399,000	-4,217,000	-1,909,000	-1,306,000	-1,560,000	-2,847,000	-3,630,000	-6,596,000	-5,089,000	-2,751,000	-2,017,000	-3,286,000	-1,048,000	-2,352,000	-1,510,000	-612,000	-7,804,000	-733,000	-704,000	-1,255,000	-2,238,000	-3,720,000	-4,094,000	-2,205,000	-2,333,000	-2,768,000	-12,463,000	-4,021,000	-891,000	-1,103,000	-977,000	-857,000	-741,000	-800,000	-968,000	-1,365,000	-955,000	-538,000	-311,000	-264,000	-621,000	-633,000	-512,000	-765,000	-357,000
purchase of marketable security investments	-48,499,000	-72,680,000	-35,293,000	-71,993,000					0	0	0	-10,617,000	-9,507,000	-15,836,000	0	-4,592,000	-1,766,000	-7,630,000	-15,299,000	-52,755,000	-45,289,000	-31,582,000	-52,476,000	-27,271,000	-27,420,000	-17,205,000	-6,527,000	-3,590,000	-22,987,000	-17,788,000	-30,888,000	-43,962,000	-9,874,000	-28,513,000	-14,264,000	-7,128,000	-7,189,000	-2,520,000	-4,197,000	-6,410,000
proceeds and maturities from marketable security investments	45,583,000	42,023,000	32,528,000	1,756,000	8,294,000	1,349,000	3,080,000	3,271,000	3,960,000	8,345,000	14,132,000	22,975,000	15,982,000	14,457,000	17,923,000	22,672,000
investment in software development	-2,640,000	-3,738,000	-4,850,000	-5,550,000	-4,989,000	-7,919,000	-9,107,000	-7,386,000	-5,043,000	-8,694,000	-9,674,000	-9,079,000
cost of acquisitions, net of cash acquired	-48,515,000	-16,907,000	-206,000	-18,024,000	0	-93,000	0	-1,302,000	-27,219,000	-33,665,000	0	-1,875,000	-46,215,000	-393,000	-615,000	-116,698,000	-1,312,000	-89,492,000	-1,986,853,000	-12,049,000	-1,031,000	0	0	-261,000	-18,864,000	-650,000	-90,000	-199,130,000	-10,785,000				-1,583,000	-3,906,000			0	0			-333,514,000	0			0				0		-10,451,000	-54,000	-9,301,000	-5,874,000					0	0	-38,000	-9,623,000	0	-700,000	-1,709,000	-525,000	0	-9,945,000	-59,000	-13,864,000	0	-3,919,000	-123,000	-4,963,000
net cash used by investing activities	-58,387,000	-55,179,000	-12,759,000	-96,169,000	-32,939,000	-9,400,000	-12,592,000	-12,681,000	-36,350,000	-40,118,000	108,000	-600,000	-46,776,000	-15,376,000	795,000	-111,173,000	-6,147,000	-86,096,000	-1,958,998,000	-39,694,000	-30,157,000	-13,884,000	-39,272,000	-15,007,000	-41,811,000	-7,703,000	-611,000	-194,890,000	-15,914,000	-14,355,000	-166,949,000	-41,037,000	-9,588,000	-35,398,000	-20,341,000	-20,068,000	-7,874,000	-7,131,000	-13,559,000	-22,156,000	-339,101,000	-25,327,000	-16,797,000	-17,234,000	-1,303,000	-4,118,000	-2,812,000	-3,322,000	-5,536,000	-4,825,000	-13,272,000	-1,919,000	-12,648,000	-6,897,000	-19,132,000	-1,500,000	-612,000	-7,565,000	-908,000	4,315,000	-1,265,000	-10,836,000	-3,685,000				-2,206,000					-11,995,000	-1,609,000	-6,431,000
cash flows from financing activities:
payment on term loans					0	0	0	-50,000,000	-90,000,000	-135,000,000	0	-120,000,000	-90,000,000	-190,000,000	-60,000,000	-20,000,000	-87,500,000
payment of debt issuance costs					0												0	-38,000	-21,107,000	-6,020,000
purchase of treasury shares	0	-173,045,000															-2,000	0			0	-2,000	0	-15,482,000	0	0	0	-17,786,000					-442,000	0	0	-7,032,000	-17,339,000	-2,000	-567,000	-93,930,000	0	0			0	-2,000									-3,277,000	-47,641,000	-14,045,000	-6,839,000	-24,119,000	-27,276,000	-12,081,000	-2,317,000	0	-8,053,000	-114,000	-10,096,000	-30,879,000	-16,322,000	0	-12,646,000	-2,903,000	-3,000	-7,188,000	-3,943,000	-608,000	-1,662,000	-6,070,000	-2,191,000	-2,254,000	-4,661,000	-2,662,000	-8,106,000	-4,959,000	-2,851,000	-2,924,000	-1,784,000
proceeds from exercise of stock options, net of withheld shares for taxes upon equity award settlement	-9,162,000	15,461,000	-4,681,000	1,526,000	9,780,000	31,548,000	5,852,000	10,033,000		6,315,000
contributions from employee stock purchase plan	4,965,000	4,561,000	5,352,000	3,970,000	4,810,000	4,347,000	4,921,000	3,553,000	4,416,000	4,029,000	4,714,000	3,037,000	4,037,000	4,458,000	4,478,000	3,678,000	3,401,000	3,557,000	3,162,000	3,038,000	2,703,000	3,032,000	2,708,000	2,469,000	2,249,000	2,718,000	2,260,000	2,349,000	2,073,000	2,218,000	1,962,000	1,798,000	1,702,000	1,915,000	1,777,000	1,650,000	1,807,000	1,611,000	1,580,000	1,238,000	1,304,000	1,124,000	1,343,000	900,000	1,107,000	1,023,000	1,165,000	849,000	1,007,000	670,000	809,000	666,000	657,000	509,000	573,000	548,000	468,000	456,000	497,000	453,000	504,000	447,000	425,000	356,000	391,000	322,000	361,000	298,000	318,000	256,000	318,000	263,000	302,000	268,000
net cash (used) provided by financing activities	-4,197,000												-87,151,000	-181,137,000	-67,674,000	-8,277,000																					-49,910,000	-77,973,000	5,668,000	-15,860,000
net increase in cash and cash equivalents	181,299,000	46,654,000	81,718,000	-38,992,000	206,425,000	287,574,000	62,485,000	22,744,000								-65,909,000	75,043,000	17,355,000	-1,033,979,000	647,129,000	84,938,000	167,349,000	49,351,000	69,303,000	71,244,000			-94,842,000	-85,173,000	126,205,000	-117,369,000	24,690,000	61,323,000	69,531,000	-8,659,000	27,580,000	12,837,000	-18,013,000	5,986,000	2,254,000	-205,527,000	34,511,000	9,382,000	-11,446,000	48,736,000	69,339,000	-9,053,000	18,269,000	26,755,000	-1,911,000	6,303,000			8,606,000	-3,954,000			134,000	-4,335,000	5,257,000	-2,859,000	-5,645,000	7,801,000	-1,529,000	1,113,000	549,000		-9,233,000	-79,000	23,449,000	-6,181,000				-3,840,000	9,078,000	-6,621,000	-2,138,000	4,663,000	3,388,000	-1,105,000	1,214,000	-133,000	-5,275,000	5,442,000	2,271,000
cash and cash equivalents at beginning of period	0	0	0	744,721,000	0	0	0	165,493,000	0	0	0	173,857,000	0	0	0	309,171,000	0	0	0	603,623,000	0	0	0	232,682,000	0	0	0	134,279,000	0	0	0	185,926,000	0	0	0	36,151,000	0	0	0	33,087,000	0	0	0	206,167,000	0	0	0	78,876,000	0	6,406,000	0	0	0	1,326,000		0	0	2,114,000		0	0	9,696,000		0	0	1,762,000		0	0	9,642,000		0	0	17,212,000		0	0	20,733,000		0	0	12,573,000		0	0	10,268,000
cash and cash equivalents at end of period	181,299,000	46,654,000	81,718,000	705,729,000	206,425,000	287,574,000	62,485,000	188,237,000	34,007,000	12,722,000	-12,081,000	130,845,000	-12,070,000	-67,135,000	9,800,000	243,262,000	75,043,000	17,355,000	-1,033,979,000	1,250,752,000	84,938,000	167,349,000	49,351,000	301,985,000	71,244,000	150,251,000	-28,250,000	39,437,000	-85,173,000	126,205,000	-117,369,000	210,616,000	61,323,000	69,531,000	-8,659,000	63,731,000	12,837,000	-18,013,000	5,986,000	35,341,000	-205,527,000	34,511,000	9,382,000	194,721,000	48,736,000	69,339,000	-9,053,000	97,145,000	26,755,000	4,495,000	6,303,000	-209,000	-9,620,000	9,932,000		3,868,000	-836,000	2,248,000		5,257,000	-2,859,000	4,051,000		-1,529,000	1,113,000	2,311,000		-9,233,000	-79,000	33,091,000		6,898,000	-6,186,000	15,111,000		9,078,000	-6,621,000	18,595,000		3,388,000	-1,105,000	13,787,000		-5,275,000	5,442,000	12,539,000
deferred income tax benefit		37,462,000	0	-11,080,000	10,841,000	-4,697,000	-12,473,000	-24,334,000	-29,704,000	-4,335,000	-21,109,000	-18,556,000	-54,347,000	-13,709,000	-9,698,000	-9,438,000	2,410,000	-9,251,000	-3,163,000	-3,267,000	-5,478,000	1,271,000	-1,061,000	-2,668,000	4,241,000	-2,889,000	-2,655,000	-4,785,000	-35,000	162,000			-15,649,000
income tax payable		-19,160,000	-30,134,000	24,508,000		2,110,000	-17,918,000	35,827,000	10,099,000	-9,538,000	-67,432,000	25,670,000																																						5,638,000	5,258,000	2,723,000	-2,457,000	2,267,000	2,859,000	1,673,000	-2,040,000	3,592,000	44,000	1,552,000	-2,845,000	1,215,000	1,073,000	476,000	-2,988,000	2,830,000				740,000	2,828,000	-1,255,000	-674,000	1,129,000	2,123,000
net cash used by financing activities							10,773,000	-36,414,000		-124,656,000	6,995,000	-117,121,000																								-531,000														-14,170,000	3,161,000			-2,581,000	3,848,000			-9,768,000	-11,513,000			-1,743,000	-206,000	-20,479,000	8,904,000	-9,568,000	-22,214,000	-12,901,000	1,171,000	-12,184,000	-1,514,000	3,136,000	-6,486,000	-2,542,000	360,000	208,000	-5,552,000	-1,015,000	-632,000	-4,325,000	-2,311,000	-7,579,000	-4,467,000	-2,284,000	-1,998,000	-1,191,000
losses from sale of investments				1,000	26,000				0	-1,000			1,000
net cash provided (used) by financing activities				1,019,000	14,590,000																											21,096,000	17,537,000	12,123,000								4,738,000						5,031,000	24,902,000
provision (reductions in reserve) for losses and sales adjustments - accounts receivable
income tax (payable) receivable
change in fair value in available-for-sale investments
provision for losses and sales adjustments - accounts receivable
proceeds from term loans																	0	0
proceeds from issuance of convertible senior notes																	0	0	0	600,000,000
proceeds from exercise of stock options, net of withheld shares for taxes upon equity award												-158,000	-1,188,000	4,405,000
net decrease in cash and cash equivalents									34,007,000	12,722,000	-12,081,000	-43,012,000		-67,135,000																																																											-6,186,000	-2,101,000
purchase of investment in common shares																						0	0	-10,000,000
proceeds from the sale of investment in preferred shares																						0	0	15,000,000
net borrowings on revolving credit facility
payment of contingent consideration																					0	0	0	-5,619,000
operating lease right-of-use assets expense														4,136,000	2,022,000	3,082,000		2,982,000	2,488,000	1,546,000		1,390,000	1,386,000	1,457,000
investment in software														-9,094,000	-8,516,000	-7,947,000	-6,727,000	-6,019,000	-5,471,000	-3,476,000		-1,621,000	-1,380,000	-1,315,000		-1,308,000	-1,542,000	-690,000
increase in other long-term liabilities																5,842,000	-238,000
proceeds from exercise of stock options																8,045,000	50,281,000	17,045,000	11,286,000	18,102,000	23,631,000	8,395,000	46,101,000	46,236,000	34,613,000	40,163,000	15,604,000	6,528,000	4,371,000	26,219,000	25,019,000	19,298,000	16,277,000	10,208,000	8,509,000	14,851,000	8,438,000	9,296,000	4,012,000	1,781,000	14,791,000	1,640,000	3,304,000	3,425,000	7,941,000	2,622,000	2,093,000	2,024,000	8,888,000	1,637,000	6,871,000	3,213,000	1,435,000	924,000	1,983,000	154,000	1,073,000	343,000	1,318,000	256,000	1,528,000	79,000	870,000	374,000	493,000	558,000	198,000	925,000	528,000	164,000	298,000	2,023,000	332,000	936,000	496,000	1,337,000	224,000	859,000	1,451,000	65,000	100,000	184,000	152,000	242,000	935,000	611,000
adjustments to reconcile net income to cash from operations:
operating lease right-of-use assets - non cash																									1,418,000
proceeds from marketable security investments																	16,886,000	23,168,000	56,364,000	35,031,000	20,948,000	21,774,000	21,783,000	18,237,000	13,942,000	17,166,000	19,412,000	20,276,000	20,997,000	21,054,000	28,077,000	11,077,000	7,611,000	4,146,000			7,581,000	2,730,000	3,501,000	3,025,000
net cash from financing activities																	-33,820,000	-101,936,000	945,366,000	615,120,000		11,425,000	48,809,000	27,604,000		27,881,000	-52,136,000	76,091,000		28,437,000														7,883,000
increase in other long term liabilities
decrease in other																			-80,000	119,000	301,000	341,000	-280,000	-48,000	198,000	-925,000	-132,000	564,000	825,000			743,000	-419,000								5,000	14,000			3,000	-116,000	35,000	300,000	20,000	239,000	-70,000	102,000
increase in net borrowings on revolving credit facility
increase in net borrowings on revolving line of credit																											-70,000,000	85,000,000							0	-10,000,000			-5,000,000	74,000,000											-10,000,000	-37,700,000			2,700,000	26,500,000			10,000,000	1,850,000
purchase of equity investment in common shares
proceeds from the sale of equity investment in preferred shares
capitalized software development costs
decrease in net borrowings on revolving line of credit																																																		-18,000,000				-4,700,000				-4,000,000
income taxes																										-253,000	-7,619,000	12,425,000		-180,000	-5,815,000	4,053,000		8,844,000	-16,887,000	7,576,000		18,008,000	-6,217,000	10,424,000		2,019,000	-5,659,000	8,394,000
provision for losses - accounts receivable
cost of acquisitions. net of cash acquired
increase in other																																			-52,000	-16,000		229,000	-232,000	-49,000																			-175,000			-25,000				-6,000				-400,000
deferred income tax																																-2,658,000
purchase of cost method investment																																									0	0
debt issuance costs																																																											0
deferred income tax expense																																			-5,008,000	-4,089,000
adjustments to reconcile net income to cash provided (used) by operations:
sale of marketable security investments																																				6,896,000
excess tax benefit from exercises of share-based arrangements																																						-12,122,000	-5,643,000	-1,051,000	-34,513,000	-1,974,000	-5,269,000	-3,558,000	-12,685,000	-3,511,000	-1,048,000	-2,158,000	-15,007,000	-1,523,000	-5,481,000	-1,702,000	-895,000	-686,000	-1,869,000	-29,000	-1,420,000	-272,000	-791,000	-48,000	-1,113,000	-48,000				-148,000
investment in record holdings pty limited																																												-15,000,000
see accompanying notes.
net cash provided (used) by operating activities																																								40,270,000
cost of acquisitions																																								-2,000,000				-325,000																																-584,000	-40,000	-11,613,000						-580,000	-63,000	-303,000
purchase of held-to-maturity securities																																										-22,942,000
proceeds from sale of investments																																													0	800,000	0	8,000	1,040,000	25,000	0	50,000	0	25,000		25,000	0	25,000		25,000	0	50,000				775,000
adjustments to reconcile net income to cash (used) provided by operations:
net cash (used) provided by operating activities																																												-2,095,000
changes in operating assets and liabilities:
adjustments to reconcile net income to net cash from operations:
decrease in restricted investments																																																														1,000,000												500,000
adjustments to reconcile net income to net cash from operating activities:
benefit from losses — accounts receivable
proceeds from sales of investments																																																															0	825,000
decrease (increase) in restricted investments																																																											0	5,000,000
decrease (increase) in other																																																							518,000			214,000
excess tax benefits from exercise of share-based arrangements																																																															600,000	168,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
adjustments to reconcile net income to net cash provided (used) by operations:
non-cash legal settlement related to warrants																																																																			0	0
purchases of investments
acquired lease																																																																			0
warrant exercise in connection with legal settlement																																																																			0
adjustments to reconcile net income to net cash (used) provided by operations:
net payments on revolving line of credit																																																																		-500,000
investment in software development costs																																																																							-9,000	-53,000	-80,000	-25,000	-33,000	-90,000	-40,000	-73,000	-51,000	-174,000	-295,000	-482,000	-1,122,000	-923,000	-1,079,000	-1,451,000
increase in restricted investments																																																															0	0			0	0	0	-620,000
excess tax benefit from exercise of shared-based arrangements
decrease in net borrowings on revolving credit facility
excess tax benefit from exercise of share-based arrangements
net cash (used by) provided by investing activities																																																																											-8,317,000	-3,188,000	-1,694,000	-11,127,000
net cash (used) provided by investing activities																																																																		-2,089,000																		-8,631,000	144,000	-2,192,000
purchased in-process research and development charge																																																																											0	0	0	140,000
non-cash interest and other charges
benefit from losses – accounts receivable
adjustments to reconcile net income to net cash
provided by operations:
changes in operating assets and liabilities, exclusive of
effects of acquired companies:
proceeds from sales of short-term investments																																																																				50,000											5,788,000				6,055,000
purchases of short-term investments																																																																				0	0	-8,625,000	-37,605,000	-20,340,000	-5,750,000	-3,850,000	-11,859,000	-4,316,000			-6,850,000	-2,500,000	-1,500,000	-6,032,000	-3,530,000	-8,648,000	-50,000	-49,000
excess tax benefits from share-based compensation expense																																																																				193,000	325,000	42,000	773,000	853,000	68,000	197,000
income tax (receivable) payable
net cash from (used by) investing activities																																																																					-1,421,000	17,865,000
proceeds from sale of short-term investments																																																																						42,265,000		13,297,000	5,196,000	2,610,000		2,761,000	5,600,000	6,330,000			3,525,000	8,401,000
deferred income taxes																																																																												0	352,000	-493,000
reduction in restricted investments																																																																								0
realized net losses on sales of investment securities
provision for losses — accounts receivable
payments on notes payable																																																																																			-2,000	-6,000	-9,000	-18,000
share-based compensation																																																																												554,000	504,000	471,000
non cash item																																																																												20,000	128,000	159,000
gain on disposal of assets																																																																																-23,000
proceeds from employee stock purchase plan																																																																												239,000	258,000	222,000
changes in operating assets and liabilities, exclusive of effects of acquired companies																																																																													-6,593,000	5,068,000		4,420,000	-4,795,000	4,231,000
purchase of short-term investments																																																																														-4,850,000
realized gain on sale of investment in h.t.e., inc.
realized net incomees on sales of investment securities
discontinued operations — noncash charges and changes in operating assets and liabilities
changes in operating assets and liabilities, exclusive of effects of acquired companies and discontinued operations:
proceeds from sale of investment in h.t.e., inc.
decrease (increase) in restricted certificate of deposit
net cash from investing activities
post closing acquisition payments
net cash provided (used) by investing activities																																																																																-1,783,000	1,475,000	1,320,000
employee stock plan purchases																																																																																271,000
contributions to employee stock purchase plan																																																																																		343,000
increase in restricted certificate of deposit
proceeds from disposal of discontinued operations and related assets
payment of debt of discontinued operations
discontinued operations – non-cash charges and changes in operating assets and liabilities
changes in operating assets and liabilities, exclusive of effects of acquired companies and discontinued operations																																																																																				789,000	1,454,000	662,000
capital expenditures of discontinued operations
net payments on revolving credit facility

Tyler Technologies, Inc(NYSE:TYL)

Tyler Technologies, Inc
(NYSE:TYL)