10-Q Filing

TYLER TECHNOLOGIES INC CIK: 860731 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0000860731-18-000034`
Period End Date	20180630
Filing Date	20180801
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	tyl-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 52 Cash Flow Statement 56

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.43M	USD	Point-in-time
Accounts receivable, allowance for losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.11M	USD	Point-in-time
Preferred stock, par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Preferred stock, par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$185.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$93.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.15M	USD	Point-in-time
Preferred stock, shares authorized (shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized (shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued (shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable [less allowance for doubtful accounts of $5,105 in 2018 and $5,427 in 2017]	`AccountsReceivableNetCurrent`	$299.25M	USD	Point-in-time
Accounts receivable [less allowance for doubtful accounts of $5,105 in 2018 and $5,427 in 2017]	`AccountsReceivableNetCurrent`	$246.19M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$43.16M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$59.46M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$34.98M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$32.21M	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$13.10M	USD	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	48.15M	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$11.34M	USD	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	48.15M	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	48.15M	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	48.15M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.94M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.00M	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	10.26M	shares	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	9.52M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$520.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$501.99M	USD	Point-in-time
Accounts receivable, long-term	`AccountsReceivableNetNoncurrent`	$12.11M	USD	Point-in-time
Accounts receivable, long-term	`AccountsReceivableNetNoncurrent`	$12.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$152.31M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$154.46M	USD	Point-in-time
Goodwill	`Goodwill`	$657.99M	USD	Point-in-time
Goodwill	`Goodwill`	$740.15M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$229.62M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$293.19M	USD	Point-in-time
Non-current investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$38.51M	USD	Point-in-time
Non-current investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$57.58M	USD	Point-in-time
Total assets	`Assets`	$1.76B	USD	Point-in-time
Total assets	`Assets`	$1.61B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.17M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$64.67M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$52.96M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$298.61M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$316.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$371.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$373.88M	USD	Point-in-time
Deferred revenue, long-term	`ContractWithCustomerLiabilityNoncurrent`	$1.27M	USD	Point-in-time
Deferred revenue, long-term	`ContractWithCustomerLiabilityNoncurrent`	$785.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$46.88M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$44.80M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $10.00 par value; 1,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $10.00 par value; 1,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized; 48,147,969 shares issued and outstanding as of June 30, 2018 and December 31, 2017	`CommonStockValue`	$481.00K	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized; 48,147,969 shares issued and outstanding as of June 30, 2018 and December 31, 2017	`CommonStockValue`	$481.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$626.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$686.78M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.00K	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$701.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$624.46M	USD	Point-in-time
Treasury stock, at cost; 9,517,525 and 10,262,182 shares in 2018 and 2017, respectively	`TreasuryStockValue`	$60.03M	USD	Point-in-time
Treasury stock, at cost; 9,517,525 and 10,262,182 shares in 2018 and 2017, respectively	`TreasuryStockValue`	$48.38M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.34B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.19B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.61B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.76B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$457.23M	USD	2 Qtrs
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$408.49M	USD	2 Qtrs
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$236.06M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$208.76M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$218.45M	USD	2 Qtrs
Total cost of revenues	`CostOfGoodsAndServicesSold`	$113.26M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$245.15M	USD	2 Qtrs
Total cost of revenues	`CostOfGoodsAndServicesSold`	$126.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$212.08M	USD	2 Qtrs
Gross profit	`GrossProfit`	$190.04M	USD	2 Qtrs
Gross profit	`GrossProfit`	$109.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$95.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$99.87M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$52.26M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$85.78M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$11.87M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$15.83M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$28.88M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$23.47M	USD	2 Qtrs
Amortization of customer and trade name intangibles	`AmortizationOfIntangibleAssets`	$3.33M	USD	1 Quarter
Amortization of customer and trade name intangibles	`AmortizationOfIntangibleAssets`	$6.66M	USD	2 Qtrs
Amortization of customer and trade name intangibles	`AmortizationOfIntangibleAssets`	$7.36M	USD	2 Qtrs
Amortization of customer and trade name intangibles	`AmortizationOfIntangibleAssets`	$4.04M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$37.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$75.98M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$37.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$74.13M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$558.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.16M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-291.00K	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-101.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$73.84M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$37.70M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$37.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$77.14M	USD	2 Qtrs
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$9.30M	USD	2 Qtrs
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$151.00K	USD	2 Qtrs
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$5.43M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-1.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$76.99M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$64.54M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$31.77M	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$2.00	USD	2 Qtrs
Basic (USD per share)	`EarningsPerShareBasic`	$1.02	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$0.86	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$1.74	USD	2 Qtrs
Diluted (USD per share)	`EarningsPerShareDiluted`	$0.81	USD	1 Quarter
Diluted (USD per share)	`EarningsPerShareDiluted`	$1.91	USD	2 Qtrs
Diluted (USD per share)	`EarningsPerShareDiluted`	$1.65	USD	2 Qtrs
Diluted (USD per share)	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$76.99M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$64.54M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$31.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.10M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.65M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$17.58M	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$23.49M	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-8.85M	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-5.20M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$32.33M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$48.87M	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.76M	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-9.31M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$815.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.80M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.15M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.60M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-12.19M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-11.06M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$10.53M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.55M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$67.23M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.58M	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.12M	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.95M	USD	2 Qtrs
Purchase of marketable security investments	`PaymentsToAcquireMarketableSecurities`	$21.39M	USD	2 Qtrs
Purchase of marketable security investments	`PaymentsToAcquireMarketableSecurities`	$74.85M	USD	2 Qtrs
Proceeds from marketable security investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$39.15M	USD	2 Qtrs
Proceeds from marketable security investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$17.03M	USD	2 Qtrs
Cost of acquisitions. net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$157.15M	USD	2 Qtrs
Cost of acquisitions. net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.86M	USD	2 Qtrs
Increase in other	`PaymentsForProceedsFromOtherInvestingActivities`	$186.00K	USD	2 Qtrs
Increase in other	`PaymentsForProceedsFromOtherInvestingActivities`	$68.00K	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.41M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-207.99M	USD	2 Qtrs
Decrease in net borrowings on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Decrease in net borrowings on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-10.00M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$7.03M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$23.36M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$44.32M	USD	2 Qtrs
Contributions from employee stock purchase plan	`ProceedsFromStockPlans`	$3.43M	USD	2 Qtrs
Contributions from employee stock purchase plan	`ProceedsFromStockPlans`	$3.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$48.08M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$18.92M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-92.68M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$185.93M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$93.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.07M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$185.93M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$93.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.15M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.