v2.4.0.8
Document and Entity Information Document (USD $)
 12 Months Ended
Dec. 31, 2013
Mar. 14, 2014
Jun. 30, 2013
Entity Information [Line Items]      
Entity Registrant Name EBIX INC    
Entity Central Index Key 0000814549    
Current Fiscal Year End Date --12-31    
Entity Filer Category Accelerated Filer    
Document Type 10-K    
Document Period End Date Dec. 31, 2013    
Document Fiscal Year Focus 2013    
Document Fiscal Period Focus FY    
Amendment Flag false    
Entity Common Stock, Shares Outstanding   38,369,855  
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Public Float     $ 301,779,798
v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Statement [Abstract]      
Operating revenue $ 204,710 $ 199,370 $ 168,969
Operating expenses:      
Costs of services provided 40,471 38,133 33,589
Product development 26,798 24,825 19,208
Sales and marketing 15,848 16,687 13,642
General and administrative 36,480 33,562 26,268
Amortization and depreciation 10,107 9,155 7,514
Total operating expenses 129,704 122,362 100,221
Operating income 75,006 77,008 68,748
Interest income 518 441 557
Interest expense (1,226) (1,541) (759)
Non-operating income (loss) - put options 342 190 647
Non-operating expense - securities litigation (4,226) 0 0
Foreign exchange gain (loss) (262) 1,931 4,302
Income before income taxes 70,152 78,029 73,495
Income tax provision (10,878) (7,460) (2,117)
Net income $ 59,274 $ 70,569 $ 71,378
Basic earnings per common share (in dollars per share) $ 1.58 $ 1.91 $ 1.89
Diluted earnings per common share (in dollars per share) $ 1.53 $ 1.80 $ 1.75
Basic weighted average shares outstanding (in shares) 37,588 36,948 37,742
Diluted weighted average shares outstanding (in shares) 38,642 39,100 40,889
v2.4.0.8
Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Statement of Comprehensive Income [Abstract]      
Net income $ 59,274 $ 70,569 $ 71,378
Other comprehensive income (loss):      
Foreign currency translation adjustments (5,376) (2,394) (11,403)
Total other comprehensive income (loss) (5,376) (2,394) (11,403)
Comprehensive income $ 53,898 $ 68,175 $ 59,975
v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 56,674 $ 36,449
Short-term investments 801 971
Trade accounts receivable, less allowances of $1,049 and $1,157, respectively 39,070 37,298
Deferred tax asset, net 256 1,835
Other current assets 5,548 5,116
Total current assets 102,349 81,669
Property and equipment, net 8,528 10,082
Goodwill 337,068 326,748
Intangibles, net 50,734 52,591
Indefinite-lived intangibles 30,887 30,887
Deferred tax asset, net 20,616 11,245
Other assets 3,682 3,724
Total assets 553,864 516,946
Current liabilities:    
Accounts payable and accrued liabilities 17,818 15,497
Accrued payroll and related benefits 6,482 5,431
Short term debt 13,062 11,344
Liability – securities litigation settlement 4,226 0
Current portion of long term debt and capital lease obligation, net of discount of $10 and $13, respectively 827 915
Put option liability 845 0
Deferred revenue 18,918 19,888
Current deferred rent 254 237
Other current liabilities 106 113
Total current liabilities 66,675 56,690
Revolving line of credit 22,840 37,840
Other long term debt and capital lease obligation, less current portion, net of discount of $38 and $78, respectively 20,124 31,592
Put option liability 0 1,186
Deferred revenue 391 375
Long term deferred rent 2,185 1,449
Other liabilities 13,141 6,429
Total liabilities 135,639 149,791
Commitments and Contingencies, Note 6      
Temporary equity, Note 20 5,000 5,000
Stockholders’ equity:    
Convertible Series D Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2013 and 2012 0 0
Common stock, $.10 par value, 60,000,000 shares authorized, 38,088,391 issued and 38,047,882 outstanding at December 31, 2013 and 37,131,777 issued and 37,091,268 outstanding at December 31, 2012 3,805 3,709
Additional paid-in capital 164,216 164,346
Treasury stock (40,509 shares as of December 31, 2013 and December 31, 2012) (76) (76)
Retained earnings 257,574 201,094
Accumulated other comprehensive loss (12,294) (6,918)
Total stockholders’ equity 413,225 362,155
Total liabilities, temporary equity and stockholders’ equity 553,864 516,946
Contingent Accrued Earn-out Acquisition Consideration [Member]
    
Current liabilities:    
Contingent liability for accrued earn-out acquisition consideration 4,137 3,265
Contingent liability for accrued earn-out acquisition consideration $ 10,283 $ 14,230
v2.4.0.8
Consolidated Balance Sheets (Parentheticals) (USD $)
In Thousands, except Share data, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current Assets:    
Allowance for doubtful accounts $ 1,049 $ 1,157
Unamortized debt discount, current 10 13
Unamortized debt discount, noncurrent $ 38 $ 78
Stockholders' Equity:    
Preferred stock, par value (per share) $ 0.1 $ 0.1
Preferred stock, shares authorized 500,000 500,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (per share) $ 0.10 $ 0.10
Common stock, shares authorized 60,000,000 60,000,000
Common stock, shares issued 38,088,391 37,131,777
Common stock, shares outstanding 38,047,882 37,091,268
Treasury stock, shares 40,509 40,509
v2.4.0.8
Consolidated Statements Stockholders' Equity (USD $)
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Beginning Balance, Value at Dec. 31, 2010 $ 231,268,000 $ 3,602,000 $ (76,000) $ 153,221,000 $ 67,642,000 $ 6,879,000
Beginning Balance, Issued Shares at Dec. 31, 2010   36,057,791        
Beginning Balance, Treasury Shares at Dec. 31, 2010     (40,509)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 71,378,000       71,378,000  
Cumulative translation adjustment (11,403,000)         (11,403,000)
Exercise of stock options, Shares   69,509        
Exercise of stock options, Value 51,000 8,000   43,000    
Repurchase of common stock, Shares   (3,510,973)        
Repurchase of common stock, Value (63,659,000) (351,000)   (63,308,000)    
Settlement on conversion of convertible debt, Shares   0        
Settlement on conversion of convertible debt, Value (1,851,000) 0   (1,851,000)    
Deferred compensation and amortization related to options and restricted stock 2,205,000     2,205,000    
Business acquisition, number of common shares issued   3,650,914        
Shares subscribed for business acquisition 87,476,000 365,000   87,111,000    
APIC adjustment for stock options 2,111,000     2,111,000    
Vesting of restricted stock, Shares   151,144        
Vesting of restricted stock, Value 0 14,000   (14,000)    
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested 0          
Dividends paid (1,461,000)       (1,461,000)  
Ending Balance, Value at Dec. 31, 2011 316,115,000 3,638,000 (76,000) 179,518,000 137,559,000 (4,524,000)
Ending Balance, Issued Shares at Dec. 31, 2011   36,418,385        
Ending Balance, Treasury Shares at Dec. 31, 2011     (40,509)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 70,569,000       70,569,000  
Cumulative translation adjustment (2,394,000)         (2,394,000)
Exercise of stock options, Shares   1,361,542        
Exercise of stock options, Value 1,020,000 137,000   883,000    
Repurchase of common stock, Shares   (983,818)        
Repurchase of common stock, Value (18,374,000) (99,000)   (18,275,000)    
Deferred compensation and amortization related to options and restricted stock 2,083,000     2,083,000    
Share subscribed for business acquisition, Shares   296,560        
Equity instruments 0 30,000   (30,000)    
APIC adjustment for stock options 1,162,000     1,162,000    
Vesting of restricted stock, Shares   89,308        
Vesting of restricted stock, Value 0 8,000   (8,000)    
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested, Shares   (50,200)        
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (992,000) (5,000)   (987,000)    
Dividends paid (7,034,000)       (7,034,000)  
Ending Balance, Value at Dec. 31, 2012 362,155,000 3,709,000 (76,000) 164,346,000 201,094,000 (6,918,000)
Ending Balance, Issued Shares at Dec. 31, 2012 37,131,777 37,131,777        
Ending Balance, Treasury Shares at Dec. 31, 2012     (40,509)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 59,274,000       59,274,000  
Cumulative translation adjustment (5,376,000)         (5,376,000)
Exercise of stock options, Shares   1,251,633        
Exercise of stock options, Value 2,161,000 125,000   2,036,000    
Repurchase of common stock, Shares   (250,900)        
Repurchase of common stock, Value (2,492,000) (25,000)   (2,467,000)    
Deferred compensation and amortization related to options and restricted stock 1,941,000     1,941,000    
APIC adjustment for stock options 37,000     37,000    
Vesting of restricted stock, Shares   76,576        
Vesting of restricted stock, Value 0 8,000   (8,000)    
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested, Shares   (120,695)        
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (1,681,000) (12,000)   (1,669,000)    
Dividends paid (2,794,000)       (2,794,000)  
Ending Balance, Value at Dec. 31, 2013 $ 413,225,000 $ 3,805,000 $ (76,000) $ 164,216,000 $ 257,574,000 $ (12,294,000)
Ending Balance, Issued Shares at Dec. 31, 2013 38,088,391 38,088,391        
Ending Balance, Treasury Shares at Dec. 31, 2013     (40,509)      
v2.4.0.8
Consolidated Statements of Cash Flow (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net income $ 59,274 $ 70,569 $ 71,378
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 10,107 9,155 7,514
Provision for doubtful accounts 1,147 442 976
Provision for deferred taxes (10,368) (7,505) (5,927)
Unrealized foreign exchange (gain)/losses on forward contracts 0 0 2,346
Unrealized foreign exchange (gain)/losses (237) 443 (5,795)
Unrealized gain on put option (341) (191) (537)
Share-based compensation 1,941 2,083 2,205
Debt discount amortization on convertible debt 42 39 21
Reduction of acquisition earn-out contingent liability (10,253) (699) (2,847)
Changes in current assets and liabilities, net of acquisitions:      
Accounts receivable (3,347) (2,023) (2,903)
Other assets 80 (371) 1,647
Accounts payable and accrued expenses 1,135 730 1,525
Accrued payroll and related benefits (1,866) (594) (532)
Deferred rent (87) (132) (261)
Reserve for potential uncertain income tax return positions 6,817 2,745 200
Liability – securities litigation settlement 4,226 0 0
Other liabilities (225) (2,384) 836
Deferred revenue (983) (12) 796
Net cash provided by operating activities 57,062 72,295 70,642
Cash flows from investing activities:      
Purchases of marketable securities 0 (785) (3,098)
Maturities of marketable securities 107 1,466 7,600
Capital expenditures (1,230) (1,965) (2,829)
Net cash used in investing activities (8,840) (63,375) (13,320)
Cash flows from financing activities:      
Proceeds from / (Repayment) to line of credit, net (15,000) 6,090 6,750
Proceeds from term loan 0 45,000 16,250
Proceeds from the issuance of note payable 0 161 0
Principal payments on term loan obligation (8,938) (19,125) (6,407)
Repurchase of common stock (2,492) (18,374) (63,659)
Settlement on conversion of convertible debt 0 0 (6,761)
Payments of long term debt (665) (600) 0
Payments for capital lease obligations (277) (284) (300)
Excess tax benefit from share-based compensation 3,237 1,044 644
Proceeds from exercise of common stock options 2,161 1,020 51
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (1,681) (992) 0
Dividends paid (2,794) (7,034) (1,461)
Net cash provided (used) by financing activities (26,449) 6,906 (54,893)
Effect of foreign exchange rates on cash and cash equivalents (1,548) (3,073) (2,130)
Net change in cash and cash equivalents 20,225 12,753 299
Cash and cash equivalents at the beginning of the year 36,449 23,696 23,397
Cash and cash equivalents at the end of the year 56,674 36,449 23,696
Supplemental disclosures of cash flow information:      
Interest paid 1,169 1,350 710
Income taxes paid 13,779 8,590 3,796
BSI [Member]
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (992) 0
Taimma [Member]
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (5,003) 0
Payments of acquisition earn-out contingencies (2,250) 0 0
Fintechnix [Member]
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (4,713) 0
Planetsoft [Member]
      
Adjustments to reconcile net income to cash provided by operating activities:      
Unrealized gain on put option (341)    
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (35,078) 0
TriSystems [Member]
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 (9,277) 0
Curepet, Inc. [Member]
      
Cash flows from investing activities:      
Investment in Curepet, Inc. 0 (2,000) 0
ADAM
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 0 3,529
MCN
      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies 0 (1,537) (381)
Qatarlyst [Member]
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired (4,740) 0 0
USIX [Member]
      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies (727) (1,466) 0
Health Connect Systems [Member]
      
Cash flows from investing activities:      
Investments in acquired businesses, net of cash acquired 0 0 (17,945)
Payments of acquisition earn-out contingencies 0 (2,000) 0
ConfirmNet
      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies 0 0 (184)
Facts [Member]
      
Cash flows from investing activities:      
Payments of acquisition earn-out contingencies $ 0 $ (25) $ (12)
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Description of Business and Summary of Significant Accounting Policies
Description of Business and Summary of Significant Accounting Policies
Description of Business— Ebix, Inc. and its subsidiaries (“Ebix” or the “Company”) is an international supplier of on-demand software and e-commerce solutions for the insurance industry. Ebix provides various software solutions and products for the insurance industry ranging from data exchanges, carrier systems, and agency systems, to custom software development for business entities across the insurance industry. The Company's products feature fully customizable and scalable on-demand software designed to streamline the way insurance professionals manage distribution, marketing, sales, customer service, and accounting activities. The Company has its headquarters in Atlanta, Georgia and also conducts operating activities in Australia, Canada, China, India, Japan, New Zealand, Singapore, United Kingdom and Brazil. International revenue accounted for 31.8%, 29.3%, and 28.5% of the Company’s total revenue in 2013, 2012, and 2011, respectively.
The Company’s revenues are derived from four product/service groups. Presented in the table below is the breakout of our revenue streams for each of those product/service groups for the years ended December 31, 2013 , 2012 and 2011.
 
For the Year Ended
 
December 31,
(dollar amounts in thousands)
 
2013
 
2012
 
2011
Exchanges
 
$
163,925

 
$
159,678

 
$
130,638

Broker Systems
 
18,378

 
18,612

 
18,006

Business Process Outsourcing (“BPO”)
 
15,678

 
16,140

 
14,944

Carrier Systems
 
6,729

 
4,940

 
5,381

Totals
 
$
204,710

 
$
199,370

 
$
168,969



Summary of Significant Accounting Policies
Basis of Presentation— The consolidated financial statements include the accounts of Ebix and its wholly owned subsidiaries. The effect of inter-company balances and transactions has been eliminated.

Use of Estimates—The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and reported amounts of revenue and expenses during those reporting periods. Management has made material estimates primarily with respect to revenue recognition and deferred revenue, accounts receivable, acquired intangible assets, contingent earnout liabilities in connection with business acquisitions, business investments, and the provision for income taxes. Actual results may be materially different from those estimates.
     
Reclassification—Certain of the reported balances and results for prior year or prior quarters, including the notes thereto, have been reclassified to conform to the current year presentation. In particular the short-term and long-term portions of the contingent liability for accrued earn-out acquisition consideration is now disclosed separately in the respective sections of the consolidated balance sheets rather than in other current liabilities or other liabilities. The change in reserve for potential uncertain income tax return positions had been previously netted against the provision for deferred taxes line in the consolidated statements of cash flows, it is now shown separately. Also the excess tax benefits from share-based compensation is now reported as a component of financing cash flows rather than being netted against the provision for deferred taxes as a component of operating cash flows in the consolidated statements of cash flows.
Segment Reporting—Since the Company, from the perspective of its chief operating decision maker, allocates resources and evaluates business performance as a single entity that provides software and related services to a single industry on a worldwide basis, the Company reports as a single segment. The applicable enterprise-wide disclosures are included in Note 16.
Cash and Cash Equivalents—The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. Such investments are stated at cost, which approximates fair value. The Company does maintain cash balances in banking institutions in excess of federally insured amounts and therefore is exposed to the related potential credit risk associated with such cash deposits.
Short-term Investments—The Company’s short-term investments consist of certificates of deposits with established commercial banking institutions with readily determinable fair values. Ebix accounts for investments that are reasonably expected to be realized in cash, sold or consumed during the year as short-term investments that are available-for-sale. The carrying amount of investments in marketable securities approximates their fair value. The carrying value of our short-term investments was $801 thousand and $971 thousand at December 31, 2013 and 2012, respectively.
Fair Value of Financial Instruments—The Company follows the relevant GAAP guidance regarding the determination and measurement of the fair value of financial instruments in which fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction valuation hierarchy which requires an entity to maximize the use of observable inputs when measuring fair value. The guidance describes the following three levels of inputs that may be used in the methodology to measure fair value:
•
Level 1 — Quoted prices available in active markets for identical investments as of the reporting date;
•
Level 2 — Inputs other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date; and,
•
Level 3 — Unobservable inputs, which are to be used in situations where there is little or no market activity for the asset or liability and wherein the reporting entity makes estimates and assumptions related to the pricing of the asset or liability including assumptions regarding risk.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
As of December 31, 2013 and 2012 the Company has the following financial instruments to which it had to consider fair values and had to make fair assessments:
•
Common share-based put option for which the fair value was measured as Level 2 instrument.
•
Short-term investments for which the fair values are measured as a Level 1 instrument.
•
Contingent accrued earn-out business acquisition consideration liabilities for which fair values are measured as Level 3 instruments. These contingent consideration liabilities were recorded at fair value on the acquisition date and are remeasured periodically based on the then assessed fair value and adjusted if necessary. The increases or decreases in the fair value of contingent consideration payable can result from changes in anticipated revenue levels and changes in assumed discount periods and rates. As the fair value measure is based on significant inputs that are not observable in the market, they are categorized as Level 3.

Other financial instruments not measured at fair value on the Company's consolidated balance sheets at December 31, 2013 and 2012 but which require disclosure of their fair values include: cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, accrued payroll and related benefits, capital lease obligations debt under the revolving line of credit and term loans with Citibank, and business investments. The estimated fair value of such instruments at December 31, 2013 and 2012 reasonably approximates their carrying value as reported on the consolidated balance sheets.
Additional information regarding the Company's assets and liabilities that are measured at fair value on a recurring basis is presented in the following tables:

 
 
Fair Values at Reporting Date Using*
Descriptions
 
Balance at December 31, 2013
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Significant Other Observable Inputs (Level 2)
Significant Unobservable Inputs (Level 3)
 
 
(In thousands)
Assets
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
Commercial bank certificates of deposits
 
$
801

$
801

$
—

$
—

Total assets measured at fair value
 
$
801

$
801

$
—

$
—

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Derivatives:
 
 
 
 
 
Common share-based put option (a)
 
$
845

$
—

$
845

$
—

Contingent accrued earn-out acquisition consideration (b)
 
14,420

—

—

14,420

Total liabilities measured at fair value
 
$
15,265

$
—

$
845

$
14,420

 
 
 
 
 
 
(a) In connection with the acquisition of PlanetSoft effective June 1, 2012, Ebix issued a put option to the PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share, which represents the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. In accordance with the relevant authoritative accounting literature a portion of the total purchase consideration was allocated to this put liability based on its initial fair value, which was determined to be $1.4 million using a Black-Scholes model. The inputs used in the valuation of the put option include term, stock price volatility, current stock price, exercise price, and the risk free rate of return.
(b) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2013 there were no transfers between fair value Levels 1, 2 or 3.

 
 
Fair Values at Reporting Date Using*
Descriptions
 
Balance at December 31, 2012
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Significant Other Observable Inputs (Level 2)
Significant Unobservable Inputs (Level 3)
 
 
(In thousands)
Assets
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
Commercial bank certificates of deposits ($213 thousand is recorded in the long term asset section of the consolidated balance sheets)
 
$
1,184

1,184

—

—

Total assets measured at fair value
 
$
1,184

$
1,184

$
—

$
—

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Derivatives:
 
 
 
 
 
Common share-based put option (a)
 
$
1,186

—

1,186

—

Contingent accrued earn-out acquisition consideration (b)
 
17,495

—

—

17,495

Total liabilities measured at fair value
 
$
18,681

$
—

$
1,186

$
17,495

 
 
 
 
 
 
(a) In connection with the acquisition of PlanetSoft effective June 1, 2012, Ebix issued a put option to the PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share, which represents the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. In accordance with the relevant authoritative accounting literature a portion of the total purchase consideration was allocated to this put liability based on its initial fair value, which was determined to be $1.4 million using a Black-Scholes model. The inputs used in the valuation of the put option include term, stock price volatility, current stock price, exercise price, and the risk free rate of return.
(b) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2012 there were no transfers between fair value Levels 1, 2 or 3.


     For the Company's assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein, and gains or losses recognized during the year.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition Consideration
 
Balance at December 31, 2013
 
Balance at December 31, 2012
 
 
(in thousands)
 
 
 
 
 
Beginning balance
 
$
17,495

 
7,590

 
 
 
 
 
Total remeasurement adjustments:
 
 
 
 
       (Gains) or losses included in earnings **
 
(10,253
)
 
(699
)
       (Gains) or losses recorded against goodwill
 
—

 
—

       Foreign currency translation adjustments ***
 
730

 
(143
)
 
 
 
 
 
Acquisitions and settlements
 
 
 
 
       Business acquisitions
 
9,425

 
16,258

       Settlements
 
(2,977
)
 
(5,511
)
 
 
 
 
 
Ending balance
 
$
14,420

 
$
17,495

 
 
 
 
 
The amount of total (gains) or losses for the year included in earnings or changes to net assets, attributable to changes in unrealized (gains) or losses relating to assets or liabilities still held at year-end.
 
$
(9,954
)
 
$
(802
)
 
 
 
 
 
** recorded as a component of reported general and administrative expenses
 
 
*** recorded as a component of other comprehensive income within stockholders' equity
 
 



Quantitative Information about Level 3 Fair Value Measurements
The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:
  
 
 
 
 
 
 
(in thousands)
 
Fair Value at  December 31, 2013
 
             Valuation Technique
 
Significant Unobservable
Input
Contingent acquisition consideration:
(Taimma, PlanetSoft, TriSystems, and Qatarlyst acquisitions)
 
$14,420
 
Discounted cash flow
 
Expected future annual revenue streams and probability of achievement



  
 
 
 
 
 
 
(in thousands)
 
Fair Value at  December 31, 2012
 
             Valuation Technique
 
Significant Unobservable
Input
Contingent acquisition consideration:
(USIX, HealthConnect, Taimma, PlanetSoft, and TriSystems acquisitions)
 
$17,495
 
Discounted cash flow
 
Expected future annual revenue streams and probability of achievement


Sensitivity to Changes in Significant Unobservable Inputs
As presented in the table above, the significant unobservable inputs used in the fair value measurement of contingent consideration related to business acquisitions are forecasts of expected future annual revenues as developed by the Company's management and the probability of achievement of those revenue forecasts. The discount rate used in these calculations is 1.75%. Significant increases (decreases) in these unobservable inputs in isolation would likely result in a significantly (lower) higher fair value measurement.
Revenue Recognition and Deferred Revenue—The Company derives its revenues primarily from professional and support services, which includes revenue generated from subscription and transaction fees pertaining to services delivered over our exchanges or from our application service provider (“ASP”) platforms, software development projects and associated fees for consulting, implementation, training, and project management provided to customers using our systems, and business process outsourcing revenue ("BPO"). Sales and value-added taxes are not included in revenues, but rather are recorded as a liability until the taxes assessed are remitted to the respective taxing authorities.
The Company follows the relevant technical accounting guidance regarding revenue recognition as issued by the Financial Accounting Standards Board ("FASB") and the Securities and Exchange Commission's ("SEC"). The Company considers revenue earned and realizable when: (a) persuasive evidence of the sales arrangement exists, (b) the arrangement fee is fixed or determinable, (c) service delivery or performance has occurred, (d) customer acceptance has been received or is reasonably assured, if contractually required, and (e) collectability of the arrangement fee is probable. The Company typically uses signed contractual agreements as persuasive evidence of a sales arrangement. We apply the provisions of the relevant FASB accounting pronouncements related to all transactions involving the license of software where the software deliverables are considered more than inconsequential to the other elements in the arrangement. For contracts that contain multiple deliverables, we analyze the revenue arrangements in accordance with the appropriate authoritative guidance, which provides criteria governing how to determine whether goods or services that are delivered separately in a bundled sales arrangement should be considered as separate units of accounting for the purpose of revenue recognition. Deliverables are accounted for separately if they meet all of the following criteria: a) the delivered item has value to the customer on a stand-alone basis; b) there is objective and reliable evidence of the fair value for all arrangement deliverables; and c) if the arrangement includes a general right of return relative to the delivered items, the delivery or performance of the undelivered items is probable and substantially controlled by the Company. Under the relevant accounting guidance, when multiple-deliverables included in an arrangement are to be separated into different units of accounting, the arrangement consideration is allocated to the identified separate units of accounting based on their relative fair values. We determine the relative selling price for a deliverable based on vendor-specific objective evidence of selling price (“VSOE”), if available, or third-party evidence ("TPE") in the alternative if available, or finally our best estimate of selling price (“BESP”), if VSOE or TPE is not available.
The Company begins to recognize revenue from license fees for its exchange (SAAS) and ASP products upon granting customer access to the respective processing platform. Transaction services fee revenue for this use of our exchanges or ASP platforms is recognized as the transactions occur and are generally billed in arrears. Revenues from BPO arrangements, which include data entry and call center services, and insurance certificate creation and tracking services, are recognized as the services are performed. Service fees for hosting arrangements are recognized over the requisite service period. Revenue derived from the licensing of third party software products in connection with sales of the Company’s software licenses is recognized upon delivery together with the Company’s licensed software products. Fees for training, data conversion, installation, and consulting services fees are recognized as revenue when the services are performed. Revenue for maintenance and support services are recognized ratably over the term of the support agreement.
Software development arrangements involving significant customization, modification or production are accounted for in accordance with the appropriate technical accounting guidance issued by the FASB using the percentage-of-completion method. The Company recognizes revenue using periodic reported actual hours worked as a percentage of total expected hours required to complete the project arrangement and applies the percentage to the total arrangement fee.
Deferred revenue includes payments or billings that have been received or made prior to performance and, in certain cases, cash collections and primarily pertain to maintenance and support fees, initial setup or registration fees under hosting agreements, software license fees received in advance of delivery and acceptance, and software development fees paid in advance of completion and delivery. Approximately $6.7 million and $7.0 million of deferred revenue were included in billed accounts receivable at December 31, 2013 and 2012, respectively.
Accounts Receivable and the Allowance for Doubtful Accounts Receivable—Reported accounts receivable as of December 31, 2013 include $31.2 million of trade receivables stated at invoice billed amounts (net of a $1.05 million estimated allowance for doubtful accounts receivable), and $7.9 million of unbilled receivables. Reported accounts receivable at December 31, 2012 include $28.5 million of trade receivables stated at invoice billed amounts (net of a $1.16 million estimated allowance for doubtful accounts receivable), and $8.8 million
 of unbilled receivables. The unbilled receivables pertain to certain professional service engagements and long-term development projects for which the timing of billing is tied to contractual milestones. The Company adheres to such contractually stated performance milestones and accordingly issues invoices to customers as per contract billing schedules. Accounts receivable are written off against the allowance for doubtful accounts receivable when the Company has exhausted all reasonable collection efforts. Management specifically analyzes the aging of accounts receivable and historical bad debts, write-offs, customer concentrations, customer credit-worthiness, current economic trends, and changes in our customer payment patterns when evaluating the adequacy of the allowance for doubtful accounts receivable. Bad debt expense was $1.1 million, $442 thousand, and $1.0 million for the year ended December 31, 2013, 2012, and 2011 respectively.
Costs of Services Provided—Costs of services provided consist of data processing costs, customer support costs including personnel costs to maintain our proprietary databases, costs to provide customer call center support, hardware and software expense associated with transaction processing systems and exchanges, telecommunication and computer network expense, and occupancy costs associated with facilities where these functions are performed. Depreciation expense is not included in costs of services provided.
Goodwill and Indefinite-Lived Intangible Assets— Goodwill represents the cost in excess of the fair value of the identifiable net assets from the businesses that we acquire. In accordance with the relevant FASB accounting guidance, goodwill is tested for impairment at the reporting unit level on an annual basis or on an interim basis if an event occurred or circumstances change that would indicate that fair value of a reporting unit decreased below its carrying value. Potential impairment indicators include a significant change in the business climate, legal factors, operating performance indicators, competition, and the sale or disposition of a significant portion of the business. Starting in 2011, the Company applied the then new guidance concerning goodwill impairment evaluation. In accordance with that new technical guidance the Company first assessed certain qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that the fair value of any of our reporting units was less than its carrying amount. If after assessing the totality of events or circumstances, we were to determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then we would not perform the two-step quantitative impairment testing described further below.
The aforementioned two-step quantitative testing process involves comparing the reporting unit carrying values to their respective fair values; we determine fair value of our reporting units by applying the discounted cash flow method using the present value of future estimated net cash flows. If the fair value of a reporting unit exceeds its carrying value, then no further testing is required. However, if a reporting unit’s fair value were to be less than its carrying value, we would then determine the amount of the impairment charge, if any, which would be the amount that the carrying value of the reporting unit’s goodwill exceeded its implied value. Projections of cash flows are based on our views of growth rates, operating costs, anticipated future economic conditions, the appropriate discount rates relative to risk, and estimates of residual values and terminal values. We believe that our estimates are consistent with assumptions that marketplace participants would use in their estimates of fair value. The use of different estimates or assumptions for our projected discounted cash flows (e.g., growth rates, future economic conditions, discount rates, and estimates of terminal values) when determining the fair value of our reporting units could result in different values and may result in a goodwill impairment charge. We perform our annual goodwill impairment evaluation and testing as of September 30 each year. During the years ended December 31, 2013, 2012, and 2011, we had no impairment of our reporting unit goodwill balances.



The following table summarizes the goodwill recorded in connection with the acquisitions that occurred during 2013 and 2012:
Company acquired
 
Date acquired
 
(in thousands)
Qatarlyst ("Qatarlyst")
 
April 2013
 
$
11,136

Total during 2013
 
 
 
$
11,136

 
 
 
 
 
Benefit Software, Inc. ("BSI")
 
March 2012
 
$
3,243

Taimma Communications, Inc. ("Taimma")
 
April 2012
 
7,557

PlanetSoft Holdings, Inc. ("PlanetSoft")
 
June 2012
 
44,116

Fintechnix Pty Limited ("Fintechnix")
 
June 2012
 
3,706

TriSystems, Ltd. ("Trisystems")
 
August 2012
 
8,754

Total during 2012
 
 
 
$
67,376

In addition, during 2012 the Company recorded a $25 thousand increase to goodwill, in connection to a 2009 acquisition, for an earn-out payment not previously recognized.
Changes in the carrying amount of goodwill for the years ended December 31, 2013 and 2012 are as follows:

 
December 31, 2013
 
December 31, 2012
 
(in thousands)
Beginning Balance
$
326,748

 
$
259,218

Additions, net (see Note 3)
11,136

 
67,401

Foreign currency translation adjustments
(816
)
 
129

Ending Balance
$
337,068

 
$
326,748



The Company’s indefinite-lived assets are associated with the estimated fair value of the contractual customer relationships existing with the property and casualty insurance carriers in Australia using our property and casualty ("P&C") data exchange and with certain large corporate customers using our client relationship management (“CRM”) platform in the United States. Prior to these underlying business acquisitions Ebix had pre-existing contractual relationships with these carriers and corporate clients. The contracts are renewable at little or no cost, and Ebix intends to continue to renew these contracts indefinitely and has the ability to do so. The proprietary technology supporting the P&C data exchange and CRM platform that is used to deliver services to these carriers and corporate clients, cannot feasibly be effectively replaced in the foreseeable future, and accordingly the cash flows forthcoming from these customers are expected to continue indefinitely. With respect to the determination of the indefinite life, the Company considered the expected use of these intangible assets, historical experience in renewing or extending similar arrangements, and the effects of competition, and concluded that there were no indications from these factors to suggest that the expected useful life of these customer relationships would be finite. The Company concluded that no legal, regulatory, contractual, or competitive factors limited the useful life of these intangible assets and therefore their life was considered to be indefinite, and accordingly the Company expects these customer relationships to remain the same for the foreseeable future. The fair values of these indefinite-lived intangible assets were based on the analysis of discounted cash flow (“DCF”) models extended out fifteen to twenty years. In that indefinite-lived does not imply an infinite life, but rather means that the subject customer relationships are expected to extend beyond the foreseeable time horizon, we utilized fifteen to twenty year DCF projections, as the valuation models that were applied consider a fifteen to twenty year time frame to be an indefinite period. Indefinite-lived intangible assets are not amortized, but rather are tested for impairment annually. We perform our annual impairment testing of indefinite-lived intangible assets as of September 30th of each year. During the years ended December 31, 2013, 2012, and 2011, we had no impairments to the recorded balances of our indefinite-lived intangible assets. We perform the impairment test for our indefinite-lived intangible assets by comparing the asset’s fair value to its carrying value. An impairment charge is recognized if the asset’s estimated fair value is less than its carrying value.
Purchased Intangible Assets—Purchased intangible assets represent the estimated fair value of acquired intangible assets from the businesses that we acquire in the U.S. and foreign countries in which we operate. These purchased intangible assets include customer relationships, developed technology, informational databases, and trademarks. We amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:
 
Life
Category
(yrs)
Customer relationships
7-20

Developed technology
3-12

Trademarks
3-15

Non-compete agreements
5

Database
10


Intangible assets as of December 31, 2013 and December 31, 2012, are as follows:
 
December 31,
 
2013
 
2012
 
(In thousands)
Finite-lived intangible assets:
 
 
 
Customer relationships
$
62,408

 
$
57,638

Developed technology
14,630

 
14,025

Trademarks
2,646

 
2,638

Non-compete agreements
538

 
538

Backlog
140

 
140

Database
212

 
212

Total intangibles
80,574

 
75,191

Accumulated amortization
(29,840
)
 
(22,600
)
Finite-lived intangibles, net
$
50,734

 
$
52,591

 
 
 
 
Indefinite-lived intangibles:
 
 
 
Customer/territorial relationships
$
30,887

 
$
30,887



Income Taxes— The Company follows the asset and liability method of accounting for income taxes pursuant to the pertinent guidance issued by the FASB. Deferred income taxes are recorded to reflect the tax consequences on future years of differences between the tax basis of assets and liabilities, and operating loss and tax credit carry forwards, and their financial reporting amounts at each period end using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In assessing the realizability of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. A valuation allowance is recorded for the portion of the deferred tax assets that are not expected to be realized based on the levels of historical taxable income and projections for future taxable income over the periods in which the temporary differences will be deductible.
The Company follows the provisions of FASB accounting guidance on accounting for uncertain income tax positions. The guidance utilizes a two-step approach for evaluating tax positions. Recognition (“Step 1”) occurs when an enterprise concludes that a tax position, based solely on its technical merits is more likely than not to be sustained upon examination. Measurement (“Step 2”) is only addressed if Step 1 has been satisfied. Under Step 2, the tax benefit is measured at the largest amount of benefit, determined on a cumulative probability basis that is more likely than not to be realized upon final settlement. As used in this context, the term “more likely than not” is interpreted to mean that the likelihood of occurrence is greater than 50%.
Foreign Currency Translation—Historically the functional currency for the Company's foreign subsidiaries in India and Singapore had been the Indian rupee and Singapore dollar, respectively. As a result of the Company's rapid growth, including the acquisition of PlanetSoft in June 2012, the expansion of its intellectual property research and development activities in its Singapore subsidiary, and the expansion of its product development activities and information technology enabled services for the insurance industry provided by its India subsidiary in support of Ebix's operating divisions across the world (both of which are transacted in U.S. dollars), management undertook a reconsideration of functional currency designations for these two foreign subsidiaries in India and Singapore, and concluded that effective July 1, 2012 the functional currency for these entities should be changed to the U.S. dollar. Management believes that the acquisition of PlanetSoft in combination with the other recent business acquisitions, and the cumulative effect of business acquisitions made over the last few years which necessitated the rapid growth of the Company's operations in India and Singapore, were indicative of a significant change in the economic facts and circumstances that justified the reconsideration and ultimate change in the functional currency. Had the change in the functional currency designation for our India and Singapore subsidiaries not been made, the Company would have incurred and recognized approximately $49 thousand of additional foreign currency exchange gains during the year ended December 31, 2012. Furthermore, a portion of monetary assets and liabilities for these two foreign subsidiaries that are denominated in foreign currencies are re-measured into U.S. dollars at the exchange rates in effect at each reporting date. These corresponding re-measurement gains and losses are included as a component of foreign currency exchange gains and losses in the accompanying Consolidated Statements of Income and amounted to a $151 thousand loss for the year ended December 31, 2012.
The functional currency of the Company's other foreign subsidiaries is the local currency of the country in which the subsidiary operates. The assets and liabilities of these foreign subsidiaries are translated into U.S. dollars at the rates of exchange at the balance sheet dates. Income and expense accounts are translated at the average exchange rates in effect during the period. Gains and losses resulting from translation adjustments are included as a component of accumulated other comprehensive income in the accompanying consolidated balance sheets. Foreign exchange transaction gains and losses that are derived from transactions denominated in a currency other than the subsidiary's functional currency are included in the determination of net income.
Advertising—Advertising costs are expensed as incurred. Advertising costs amounted to $1.0 million, $1.4 million, and $1.0 million in 2013, 2012, and 2011, respectively, and are included in sales and marketing expenses in the accompanying Consolidated Statements of Income.
Sales Commissions —Certain sales commission paid with respect to subscription-based revenues are deferred and subsequently amortized into operating expenses ratably over the term of the related customer subscription contracts. As of December 31, 2013 and 2012, $434 thousand and $442 thousand, respectfully, of sales commissions were deferred and included in other current assets on the accompanying Consolidated Balance Sheets. During the years ended December 31, 2013 and 2012 the Company amortized $915 thousand and $1.1 million, respectively, of previously deferred sales commissions and included this expense in sales and marketing costs on the accompanying Consolidated Statements of Income.
Property and Equipment—Property and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the assets estimated useful lives. Leasehold improvements are amortized over the shorter of the expected life of the improvements or the remaining lease term. Repairs and maintenance are charged to expense as incurred and major improvements that extend the life of the asset are capitalized and depreciated over the expected remaining life of the related asset. Gains and losses resulting from sales or retirements are recorded as incurred, at which time related costs and accumulated depreciation are removed from the Company’s accounts. Fixed assets acquired in acquisitions are recorded at fair value. The estimated useful lives applied by the Company for property and equipment are as follows:
 
Life
Asset Category
(yrs)
Computer equipment
5
Furniture, fixtures and other
7
Buildings
30
Leasehold improvements
Life of the lease

Recent Accounting Pronouncements
The following is a summary brief discussion of recently released accounting pronouncements that are pertinent to the Company’s business:
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists". This accounting standard states that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This accounting standards update applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The accounting standards update is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The Company will adopt this new standard in 2014, and it may have an effect on how unrecognized tax benefits are accounted for and presented in the Company's balance sheet.
In July 2012, the FASB issued Accounting Standards Update No. 2012-02, "Testing Indefinite-Lived Intangible Assets for Impairment" (the revised standard). The revised standard is intended to reduce the cost and complexity of testing indefinite-lived intangible assets other than goodwill for impairment. It allows companies to perform a qualitative assessment to determine whether further impairment testing of indefinite-lived intangible assets is necessary, similar in approach to the goodwill impairment test. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount in accordance the related technical accounting guidance. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. The Company has not yet adopted this new guidance, and accordingly applied quantitative methods to evaluate its indefinite-lived intangible assets for impairment during 2013. The Company expects to adopt this new financial accounting standard in 2014 for use in its annual impairment evaluations of indefinite-lived intangible assets, which are performed as of September of each year.
In June 2011, the FASB issued new financial reporting guidance regarding the reporting of "other comprehensive income, or (OCI)". This guidance revises the manner in which entities present comprehensive income in their financial statements. The new guidance requires entities to report components of comprehensive income in either (1) a continuous statement of comprehensive income, or (2) two separate but consecutive statements. Under the two-statement approach, the first statement would include components of net income, which is consistent with the income statement format used currently, and the second statement would include components of OCI. Under either method, entities must display adjustments for items that are reclassified from OCI to net income in both net income and OCI. The new reporting guidance does not change the items that must be reported in OCI. This new reporting standard is effective for interim and annual periods beginning after December 15, 2011. After adoption, the guidance must be applied retrospectively for all periods presented in the financial statements. The Company adopted this new guidance during 2012. It did not have a material impact on our financial position or operating results as the only element of comprehensive income relevant to Ebix is in regards to cumulative foreign currency translation adjustments.
In September 2011, the FASB issued new technical guidance regarding an entity's evaluation of goodwill for possible impairment. Under this new guidance an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If after assessing the totality of events or circumstances, an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step quantitative impairment test is unnecessary. This new technical guidance was effective for fiscal years beginning after December 15, 2011. Early adoption was permitted for annual and interim goodwill impairment evaluations performed as of a date before September 2011, if an entity's financial statements for the most recent annual or interim period have not yet been issued. The Company elected to adopt early and accordingly applied this new guidance to its 2011 annual impairment evaluation of goodwill, and its adoption did not have a material impact on the Company's statements of financial position or operations.
v2.4.0.8
Supplemental Schedule of Noncash Financing Activities
 12 Months Ended
Dec. 31, 2013
Supplemental Cash Flow Elements [Abstract]  
Supplemental Schedule of Noncash Financing Activities
Supplemental schedule of noncash financing activities:
Effective June 1, 2012, Ebix acquired PlanetSoft, Inc. for aggregate consideration in the amount of $40.0 million. Under terms of the merger agreement, the former PlanetSoft shareholders received, as part of the aggregate purchase consideration, 296,560 shares of Ebix common stock with a fair value of $5.0 million.
        
Effective February 7, 2011, Ebix acquired ADAM, Inc. for aggregate consideration in the approximate amount of $88.4 million. Under the terms of the merger agreement, all of the ADAM shareholders received 3.65 million shares of Ebix common stock with a fair value of $87.5 million as part of the purchase consideration.
    
v2.4.0.8
Earnings per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share

The basic and diluted earnings per share (“EPS”), and the basic and diluted weighted average shares outstanding for all periods as presented in the accompanying Consolidated Statements of Income are shown below :
 
 
For the year ended
December 31,
 
 
(In thousands, except per share amounts)
Earnings per share:
 
2013
 
2012
 
2011
Basic earnings per common share
 
$
1.58

 
$
1.91

 
$
1.89

Diluted earnings per common share
 
$
1.53

 
$
1.80

 
$
1.75

Basic weighted average shares outstanding
 
37,588

 
36,948

 
37,742

Diluted weighted average shares outstanding
 
38,642

 
39,100

 
40,889


Basic EPS is equal to net income divided by the weighted average number of shares of common stock outstanding for the period. Diluted EPS takes into consideration common stock equivalents which for the Company consist of stock options and restricted stock. With respect to stock options, diluted EPS is calculated as if the Company had additional common stock outstanding from the beginning of the year or the date of grant or issuance, net of assumed repurchased shares using the treasury stock method. Diluted EPS is equal to net income divided by the combined sum of the weighted average number of shares outstanding and common stock equivalents. At December 31, 2013, 2012, and 2011 there were 315,000, 90,000, and 90,000 potentially issuable shares with respect to stock options which could dilute EPS in the future but which were excluded from the diluted EPS calculation because presently their effect is anti-dilutive. Diluted shares outstanding are determined as follows for each years ending December 31, 2013, 2012, and 2011:

 
 
For the year ended
December 31,
 
 
(in thousands)
 
 
2013
 
2012
 
2011
Basic weighted average shares outstanding
 
37,588

 
36,948

 
37,742

Incremental shares for common stock equivalents
 
1,054

 
2,152

 
3,147

Diluted shares outstanding
 
38,642

 
39,100

 
40,889
v2.4.0.8
Business Acquisitions
 12 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Business Acquisitions
Business Acquisitions
The Company’s business acquisitions are accounted for under the purchase method of accounting in accordance with the FASB’s accounting guidance on the accounting for business combinations. Accordingly, the consideration paid by the Company for the businesses it purchases is allocated to the assets and liabilities acquired based upon their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair values of assets acquired and liabilities assumed is recorded as goodwill. Recognized goodwill pertains in part to the value of the expected synergies to be derived from combining the operations of the businesses we acquire including the value of the acquired workforce.

The Company's practice is that, immediately after a business acquisition is consummated, to tightly integrate all functions including infrastructure, sales and marketing, administration, product development, so as to ensure that efficiencies are maximized and redundancies eliminated. Furthermore the Company centralizes certain key functions such as product development, information technology, marketing, sales, human resources, finance, and other general administrative functions after an acquisition, in order to rapidly leverage cross-selling opportunities and to quickly realize cost efficiencies. By executing this integration strategy it becomes neither practical nor feasible to accurately and separately track and disclose the earnings from the business combinations we have executed after they have been acquired.

A significant component of the purchase price consideration for many of the Company's business acquisitions is a potential future cash earnout based on reaching certain specified future revenue targets. The Company recognizes these potential obligations as contingent liabilities as reported on its Consolidated Balance Sheets. As discussed in more detail in Note 1, these contingent consideration liabilities are recorded at fair value on the acquisition date and are remeasured quarterly based on the then assessed fair value and adjusted if necessary. As of December 31, 2013, the total of these contingent liabilities was $14.4 million, of which $10.3 million is reported in long-term liabilities, and $4.1 million is included in current liabilities in the Company's Consolidated Balance Sheet. As of December 31, 2012 the total of these contingent liabilities was $17.5 million of which $14.2 million is reported in long-term liabilities, and $3.3 million is included in current liabilities in the Company's Consolidated Balance Sheet.
    During 2012 the Company received a termination fee in connection with a failed business acquisition. In this regard the Company recorded a reduction to general and administrative expense in the approximate amount of $971 thousand (net of directly related internal operating costs incurred by the Company and a portion of the fee that was paid to our investment banker).
2013 Acquisitions
    During 2013 the Company executed and completed one business acquisition, Qatarlyst. The Company accounted for this acquisition by recording $11.1 million of goodwill, $4.8 million of intangible assets pertaining to customer relationships, and $635 thousand of intangible assets pertaining to acquired technology.
2012 Acquisitions
    During 2012 the Company executed and completed five business acquisitions including PlanetSoft, Inc. which is discussed in more detail below; the other acquisitions were not material individually or in the aggregate. The Company accounted for these other four immaterial business acquisitions by recording in the aggregate $23.3 million of goodwill, $7.6 million of intangible assets pertaining to customer relationships, $1.8 million of intangible assets pertaining to acquired technology, $436 thousand of intangible assets for acquired trade names, and $118 thousand of intangible assets for non-compete agreements.
PlanetSoft — Effective June 1, 2012, Ebix closed the merger of California based PlanetSoft Holdings, Inc. ("PlanetSoft"). Under the terms of the merger agreement the former PlanetSoft shareholders received $35.0 million cash and 296,560 shares of Ebix common stock valued at $16.86 per share or $5.0 million in the aggregate. The cash portion of the cash purchase consideration was funded using internal cash reserves and available capacity from the Company's commercial bank revolving line of credit. Furthermore, under the terms of the agreement the PlanetSoft shareholders hold a put option exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying shares of common stock back to the Company at a price of $16.86 per share, which represents the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. The initial fair value of this put option liability was determined to be $1.4 million. This put option is described in more detail in Note 10. PlanetSoft is in the business of powering data exchanges that streamline core insurance operations in the areas of client acquisition, underwriting, and distribution management. $11.4 million of PlanetSoft's operating revenues recognized since June 2012 were included in the Company's revenues reported in its Consolidated Statement of Income for the year ended December 31, 2012. The Company's operating revenues as reported in its Consolidated Statement of Income for the year ended December 31, 2013 include $17.2 million of revenue generated by PlanetSoft operations. The revenue derived from PlanetSoft's operations is included in the Company's Exchange division. The Company accounted for this acquisition by recording $44.1 million of goodwill, $9.8 million of intangible assets pertaining to customer relationships, and $540 thousand of intangible assets pertaining to acquired technology. The former shareholders of PlanetSoft retain the right to earn up to an additional cash consideration if certain incremental revenue targets are achieved over the two-year anniversary date subsequent to the effective date of the acquisition. The currently determined approximate fair value of this contingent consideration liability is $992 thousand.
The following table summarizes the fair value of the consideration transferred, net assets acquired and liabilities assumed as a result of the acquisitions that occurred during 2013 and 2012:
 
 
December 31,
(in thousands)
 
2013
 
2012
Fair value of total consideration transferred
 
 
 
 
Cash
 
$
5,025

 
$
56,112

Equity instruments
 
—

 
5,000

Contingent earn-out consideration arrangement
 
9,425

 
16,450

Secured promissory note issued
 
—

 
3,000

Total
 
$
14,450

 
$
80,562

 
 
 
 
 
Fair value of assets acquired and liabilities assumed
 
 
 
 
Cash
 
$
285

 
$
1,049

Other current assets
 
485

 
5,213

Property, plant, and equipment
 
144

 
1,328

Other long term assets
 
507

 
331

Intangible assets
 
5,396

 
20,246

Deferred tax liability
 
(947
)
 
(6,018
)
Current and other liabilities
 
(2,556
)
 
(7,586
)
Put option liability
 
—

 
(1,377
)
Net assets acquired, excludes goodwill
 
3,314

 
13,186

 
 
 
 
 
Goodwill
 
11,136

 
67,376

 
 
 
 
 
Total net assets acquired
 
$
14,450

 
$
80,562


In addition, during 2012 the Company recorded a $25 thousand increase to goodwill, in connection to a 2009 acquisition, for an earn-out payment not previously recognized.
The following table summarizes the separately identified intangible assets acquired as a result of the acquisitions that occurred during 2013 and 2012:
 
 
December 31,
 
 
2013
 
2012
 
 
 
 
Weighted
Average
 
 
 
Weighted
Average
Intangible asset category
 
Fair Value
 
Useful Life
 
Fair Value
 
Useful Life
 
 
(in thousands)
 
(in years)
 
(in thousands)
 
(in years)
Customer relationships
 
$
4,761

 
11.0
 
$
17,365

 
10.9
Developed technology
 
635

 
5.0
 
2,327

 
4.5
Non-compete agreements
 
—

 
0.0
 
118

 
5.0
Trademarks
 
—

 
0.0
 
436

 
10.0
Total acquired intangible assets
 
$
5,396

 
10.3
 
$
20,246

 
10.1


Estimated aggregate future amortization expense for the intangible assets recorded as part of the business acquisitions described above and other prior acquisitions is as follows:
Estimated Amortization Expenses (in thousands):
 
For the year ending December 31, 2014
$
7,244

For the year ending December 31, 2015
6,589

For the year ending December 31, 2016
6,202

For the year ending December 31, 2017
5,791

For the year ending December 31, 2018
5,198

Thereafter
19,710

 
 

 
$
50,734

 
 


The Company recorded $7.3 million, $6.1 million, and $4.8 million of amortization expense related to acquired intangible assets for the years ended December 31, 2013, 2012, and 2011, respectively.
v2.4.0.8
Pro Forma Financial Information (re: 2013 and 2012 acquisitions)
 12 Months Ended
Dec. 31, 2013
Pro Forma Financial Information [Abstract]  
Pro Forma Financial Information (re: 2013 and 2012 acquisitions)
Pro Forma Financial Information (re: 2013 and 2012 acquisitions)
This unaudited pro forma financial information is provided for informational purposes only and does not project the Company’s results of operations for any future period.
The aggregated unaudited pro forma financial information pertaining to all of the Company's acquisitions made during 2013 and 2012, which includes the acquisitions of Qatarlyst, BSI, Taimma, PlanetSoft, Fintechnix, and TriSystems as presented in the table below is provided for informational purposes only and does not project the Company's expected results of operations for any future period. No effect has been given in this pro forma information for future synergistic benefits that may still be realized as a result of combining these companies or costs that may yet be incurred in integrating their operations. The 2013 and 2012 pro forma financial information below assumes that all such business acquisitions were made on January 1, 2012, whereas the Company's reported financial statements for 2013 only includes the operating results from the businesses since the effective date that they were acquired by Ebix, and thusly includes only nine months of actual financial results of Qatarlyst. Similarly, the 2012 pro forma financial information below includes a full year of results for Taimma, BSI, PlanetSoft, Fintechnix, TriSystems, and Qatarlyst as if they had been acquired on January 1, 2012, whereas the Company's reported financial statements for the 2012 only includes nine months of actual financial results for BSI and Taimma, seven months for PlanetSoft, seven months for Fintechnix, five months for TriSystems, and no financial results for Qatarlyst.

 
 
As Reported
2013
 
Pro Forma
2013
 
As Reported
2012
 
Pro Forma
2012
 
 
 
 
(unaudited)
 
 
 
(unaudited)
 
 
(In thousands, except per share amounts)
Revenue
 
$
204,710

 
$
205,619

 
$
199,370

 
$
215,004

Net Income
 
$
59,274

 
$
57,966

 
$
70,569

 
$
57,008

Basic EPS*
 
$
1.58

 
$
1.54

 
$
1.91

 
$
1.54

Diluted EPS*
 
$
1.53

 
$
1.50

 
$
1.80

 
$
1.45


        
In the above table, the unaudited pro forma revenue for the year ended December 31, 2013 decreased by $9.4 million from the unaudited pro forma revenue for 2012 of $215.0 million to $205.6 million , representing a 4.4% decrease. The reported revenue in the amount of $204.7 million for the year ended December 31, 2013 increased by $5.3 million or 2.7% from the $199.4 million of reported revenue for the year ended December 31, 2012.
The above pro forma analysis is based on the following premises:
•
2013 and 2012 pro forma revenue contains actual revenue of the acquired entities before acquisition date, as reported by the sellers, as well as actual revenue of the acquired entities after acquisition. Growth in revenues of the acquired entities after acquisition date are only reflected for the period after their acquisition.
•
Revenue billed to existing clients from the cross selling of acquired products has been assigned to the acquired section of our business.
•
Any existing products sold to new customers acquired through the acquisition customer base, has also been assigned to the acquired section of our business.
•
2012 pro forma revenues include revenues from some product lines whose sale was discontinued after the acquisition date and revenues from some customers whose contracts were discontinued. This is typically done for efficiency and/or competitive reasons.
•
The impact from fluctuations of the exchange rates for the foreign currencies in the countries in which we conduct operations also partially affected reported revenues. During each of the years 2013, 2012, and 2011 the change in foreign currency exchange rates increased/(decreased) reported consolidated operating revenues by $(3.8) million, $(1.2) million, and $4.2 million, respectfully.
v2.4.0.8
Commercial Bank Financing Facility
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Commercial Bank Financing Facility
Commercial Bank Financing Facility
On April 26, 2012, Ebix entered into a credit agreement providing for a $100 million secured syndicated credit facility (the “Secured Syndicated Credit Facility”) with Citibank, N.A. ("Citibank") as administrative agent and Citibank, N.A., Wells Fargo Capital Finance, LLC, and RBS Citizens, N.A. as joint lenders. The financing is comprised of a 4-year, $45 million secured revolving credit facility, a $45 million secured term loan which amortizes over a 4 year period with quarterly principal and interest payments commencing on June 30, 2012 and a final payment of all remaining outstanding principal and accrued interest due on April 26, 2016, and an accordion feature that provides for the expansion of the credit facility by an additional $10 million. This new $100 million credit facility with Citibank, N.A., as administrative agent, replaced the former $55 million facility that the Company had in place with Bank of America, N.A. The initial interest rate applicable to the Secured Syndicated Credit Facility is LIBOR plus 1.50% and currently stands at 1.67%. Under the Secured Syndicated Credit Facility the maximum interest rate that could be charged depending upon the Company's leverage ratio is LIBOR plus 2.00%. The credit facility is used by the Company to fund working capital requirements primarily in support of current operations, organic growth, and accretive business acquisitions. The Company incurred $744 thousand of origination costs in connection with this new credit facility, and is amortizing these costs into interest expense over the four-year life of the credit agreement. As of December 31, 2013 the Company's consolidated balance sheet includes $434 thousand of remaining deferred financing costs. The underlying financing agreement contains financial covenants regarding the Company's annualized EBITDA, fixed charge coverage ratio, and leverage ratio, as well as certain restrictive covenants pertaining to such matters as the incurrence of new debt, the aggregate amount of repurchases of the Company's equity shares, and the consummation of new business acquisitions. The Company currently is in compliance with all such financial and restrictive covenants.
On April 26, 2012, Ebix fully paid all of its obligations and related fees then outstanding to BOA and as pertaining to the Credit Agreement dated February 12, 2010 (as amended). The aggregate amount of the payment was $45.14 million and was funded from a portion of the proceeds of the Citibank led Secured Syndicated Credit Facility discussed immediately above. Upon the effective date of this payoff, BOA's commitment to extend further credit to the Company terminated.
    At December 31, 2013, the outstanding balance on the revolving line of credit with Citibank was $22.8 million and the facility carried an interest rate of 1.67%. This balance is included in the long-term liabilities section of the Consolidated Balance Sheets. During 2013, the average and maximum outstanding balances on the revolving line of credit were $30.7 million and $37.8 million, respectively, and the weighted average interest rate was 1.69%. At December 31, 2012 the outstanding balance on the revolving line of credit was $37.8 million and the facility carried an interest rate of 1.71%.
    At December 31, 2013, the outstanding balance on the term loan with Citibank was $31.9 million of which $13.1 million is due within the next twelve months. This term loan also carried an interest rate of 1.67%. During 2013, $8.9 million of scheduled payments were made against the existing term loan with Citibank. The current and long-term portions of the term loan are included in the respective current and long-term sections of the consolidated balance sheets. At December 31, 2012, the outstanding balance on the term loan was $40.9 million.
v2.4.0.8
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies
Contingencies-Between July 14, 2011 and July 21, 2011, securities class action complaints were filed against the Company and certain of its officers in the United States District Court for the Southern District of New York and in the United States District Court for the Northern District of Georgia. The complaints assert claims against (i) the Company and the Company's CEO and CFO for alleged violations of Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder and (ii) the Company's CEO and CFO as alleged controlling persons. The complaints generally allege false statements in earnings reports, SEC filings, press releases, and other public statements that allegedly caused the Company's stock to trade at artificially inflated prices. Plaintiffs seek an unspecified amount of damages.

The New York action has been transferred to Georgia and has been consolidated with the Georgia action, now styled In re: Ebix, Inc. Securities Litigation, Civil Action No. 1:11-CV-02400-RSW (N.D. Ga.). A Consolidated Amended Complaint (“CAC”) was filed by Plaintiffs on November 28, 2011. On January 12, 2012, the Company filed a Motion to Dismiss the CAC, which raised various defenses that the CAC failed to state a claim. On September 28, 2012, the Court entered an order denying the Company's Motion to Dismiss. On December 7, 2012, Plaintiffs filed their Motion for Class Certification. On June 19, 2013, Defendants filed a Motion for Judgment on the Pleadings. On July 2, 2013, the Court denied Plaintiffs' Motion for Class Certification without prejudice to Plaintiffs' refiling their Motion should the Court deny, in whole or in part, Defendants' Motion for Judgment on the Pleadings. On July 16, 2013, the Court entered a Stipulated Order Staying Discovery Pending Resolution of Defendants' Motion for Judgment on the Pleadings. The parties have reached a mutually acceptable agreement to resolve this action, and on January 27, 2014, Plaintiffs filed their Motion for Preliminary Approval of Settlement. On February 4, 2014, the Court entered an Order Preliminarily Approving Settlement and Providing for Notice. Under the terms of that Order, a hearing has been scheduled for June 5, 2014, to determine whether the proposed settlement should be finally approved by the Court. Management, after consultation with the Company’s outside advisors concluded that it was appropriate to record a contingent liability and recognize a charge against earnings in the amount of $4.23 million ($2.63 million net of the associated tax benefit), which represents our current estimate of the potential liability in regards to the federal class action matter. This contingent liability is reported in the current section of the enclosed Consolidated Balance Sheet, and the charge against earnings is reported below operating income in the enclosed Consolidated Statement of Income for the year ended December 31, 2013.
In connection with this shareholder class action suit, there have been three derivative complaints brought by certain shareholders on behalf of the Company, which name certain of the Company's officers and its entire board of directors as Defendants. The first such derivative action was brought by an alleged shareholder named Paul Nauman styled Nauman v. Raina, et al., Civil Action File No. 2011-cv-205276 (Superior Court of Fulton County, Georgia), filed September 1, 2011. The second such derivative action was brought by an alleged shareholder named Gilbert Spagnola styled Spagnola v. Bhalla, et al., Civil Action No. 1:13-CV-00062-RWS (N.D. Ga.), filed January 7, 2013. The third such derivative action was brought by an alleged shareholder named Hotel Trades Council and Hotel Association of New York City, Inc. Pension Fund styled Hotel Trades Council and Hotel Association of New York City, Inc. Pension Fund v. Raina, et al., Civil Action No. 1:13-CV-00246-RWS (N.D. Ga.), filed January 23, 2013. These derivative actions are based on substantially the same factual allegations in the shareholder class action suit, but also variously claim breach of fiduciary duties, abuse of control, gross mismanagement, the wasting of corporate assets, negligence, unjust enrichment by the Company's directors, and violation of Section 14 of the Exchange Act. The Nauman case was stayed pending the completion of expert discovery in the shareholder class action suit. On February 14, 2014, Plaintiff filed a Notice Regarding the Stay of the Derivative Litigation indicating Plaintiff’s intent to move to lift the stay. On April 12, 2013, the Court entered an Order consolidating the Spagnola and Hotel derivative cases under the style In re Ebix, Inc. Derivative Litigation, File No. 1:13-CV-00062- RWS (N.D. Ga.), appointing Hotel Trades Council and Hotel Association of New York City, Inc. Pension Fund as Lead Derivative Plaintiff, and appointing the law firm Cohen Milstein Sellers & Toll PLLC as Lead Derivative Counsel and The Law Offices of David A. Bain LLC as Liaison Counsel. Lead Derivative Plaintiff filed its Consolidated Shareholder Derivative and Class Action Complaint on May 20, 2013. Thereafter, the Court entered a Consent Order on June 4, 2013, setting a schedule for Lead Derivative Plaintiff to amend its Complaint in light of the anticipated preliminary proxy related to a proposed transaction announced on May 1, 2013 with affiliates of Goldman Sachs & Co. The parties in both the derivative actions are conferring regarding future case scheduling. The Company denies any liability and intends to defend the derivative actions vigorously.

On December 3, 2012, the Company received a subpoena and letter from the Securities and Exchange Commission (“SEC”) dated November 30, 2012, stating that the SEC is conducting a formal, non-public investigation styled In the Matter of Ebix, Inc. (A-3318) and seeking documents primarily related to the issues raised in the In re: Ebix, Inc. Securities Litigation. On April 16, 2013, the Company received a second subpoena from the SEC seeking additional documents. The Company has cooperated with the SEC to provide the requested documents.

On June 6, 2013, the Company was notified that the U.S Attorney for the Northern District of Georgia had opened an investigation into allegations of intentional misconduct that had been brought to its attention from the pending shareholder class action lawsuit against the Company's directors and officers, the media and other sources. The Company is cooperating with the U.S. Attorney's office.
Following our announcement on May 1, 2013 of the Company's execution of a merger agreement with affiliates of Goldman Sachs & Co., eleven putative class action complaints challenging the proposed merger were filed in the Delaware Court of Chancery. These complaints name as Defendants some combination of the Company, its directors, Goldman Sachs & Co and affiliated entities. On June 10, 2013, the eleven complaints were consolidated by the Delaware Court of Chancery, now captioned In re Ebix, Inc. Stockholder Litigation, CA No. 8526-VCN. On June 19, 2013, the Company announced that the merger agreement had been terminated pursuant to a Termination and Settlement Agreement. After Defendants moved to dismiss the consolidated proceeding, Lead Plaintiffs amended their operative complaint to drop their claims against Goldman Sachs & Co. and focus their allegations on an Acquisition Bonus Agreement between the Company and Robin Raina. On September 26, 2013, Defendants moved to dismiss the Amended Consolidated Complaint and briefing on the Motion is complete. The matter was recently reassigned and a hearing on our Motion to Dismiss was held on February 20, 2014. The Company denies any liability and intends to defend the derivative actions vigorously.

The Company has been sued by Microsoft for alleged copyright infringement, breach of contract, and unjust enrichment. Microsoft Corporation and Microsoft Licensing GP v. Ebix, Inc., Case No. 1:13-CV-01655-CAP (N.D.Ga), filed May 15, 2013. Microsoft is seeking damages in excess of $75,000, but we have not yet been able to determine exposure as the case concerns alleged underlicensing of Microsoft software and an audit is underway. The Company filed a Motion to Dismiss on July 10, 2013. In response, Microsoft filed an Amended Complaint. The Company filed a Motion to Dismiss the Amended Complaint on August 29, 2013. On February 14, 2014, the Court denied the Company’s Motion to Dismiss.
In the normal course of business, the Company is involved in various other claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate likely disposition of these matters will not have a material adverse effect on the Company's business, consolidated financial position, results of operations or liquidity.
Lease Commitments—The Company leases office space under non-cancelable operating leases with expiration dates ranging through 2019, with various renewal options. Capital leases range from three to five years and are primarily for computer equipment. There were multiple assets under various individual capital leases at December 31, 2013 and 2012.
Commitments for minimum rentals under non-cancellable leases and debt obligations as of December 31, 2013 were as follows:
Year
 
Debt
 
Capital Leases
 
Operating Leases
 
 
(in thousands)
2014
 
$
13,711

 
$
195

 
$
5,088

2015
 
11,643

 
44

 
3,287

2016
 
31,315

 
—

 
2,034

2017
 
—

 
—

 
1,965

2018
 
—

 
—

 
1,582

Thereafter
 
—

 
—

 
550

Total
 
$
56,669

 
$
239

 
$
14,506

Less: sublease income
 
 
 
 
 
(5
)
Net lease payments
 
 
 
 
 
$
14,501

Less: amount representing interest
 
 
 
(7
)
 
 
Present value of obligations under capital leases
 
 
 
$
232

 
 
Less: current portion
 
(13,711
)
 
(188
)
 
 
Long-term obligations
 
$
42,958

 
$
44

 
 

Rental expense for office facilities and certain equipment subject to operating leases for 2013, 2012, and 2011 was $6.5 million, $5.9 million and $4.6 million, respectively.
Sublease income for 2013, 2012 and 2011 was $55 thousand, $5 thousand, and $0 thousand, respectively.
Self Insurance—For most of the Company’s U.S. employees the Company is currently self-insured for its health insurance program and has a stop loss policy that limits the individual liability to $120 thousand per person and the aggregate liability to 125% of the expected claims based upon the number of participants and historical claims. As of December 31, 2013 and 2012, the amount accrued on the Company’s consolidated balance sheet for the self-insured component of the Company’s employee health insurance was $302 thousand and $243 thousand, respectively. The maximum potential estimated cumulative liability for the annual contract period, which ends in September 2014, is $2.9 million.
v2.4.0.8
Share-based Compensation
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Compensation
Share-based Compensation
Stock Options—The Company accounts for compensation expense associated with stock options issued to employees, Directors, and non-employees based on their fair value, which is calculated using an option pricing model, and is recognized over the service period, which is usually the vesting period. At December 31, 2013, the Company has one equity based compensation plan. No stock options were granted to employees or non-employees during 2013, 2012 and 2011; however, options were granted to Directors in 2013, 2012 and 2011. Stock compensation expense of $474 thousand, $539 thousand and $537 thousand was recognized during the years ending December 31, 2013, 2012 and 2011, respectively, on outstanding and unvested options.
The fair value of options granted during 2013 is estimated on the date of grant using the Black-Scholes option pricing model. The following table includes the weighted- average assumptions used in estimating the fair values and the resulting weighted-average fair value of stock options granted in the periods presented:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
Weighted average fair values of stock options granted
$
5.70

 
$
5.47

 
$
8.32

Expected volatility
59.9
%
 
47.9
%
 
59.0
%
Expected dividends
2.01
%
 
1.18
%
 
.74
%
Weighted average risk-free interest rate
.65
%
 
.33
%
 
.33
%
Expected life of stock options (in years)
3.5

 
3.5

 
3.5



A summary of stock option activity for the years ended December 31, 2013, 2012 and 2011 is as follows:
 
Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate Intrinsic
Value
 
 
 
 
 
 
 
(in thousands)
Outstanding at January 1, 2011
3,340,476

 
$
2.22

 
2.51
 
$
71,638

Granted
45,000

 
$
20.58

 
 
 
 
Exercised
(69,509
)
 
$
0.73

 
 
 
 
Canceled
(792
)
 
$
0.72

 
 
 
 
Outstanding at December 31, 2011
3,315,175

 
$
2.51

 
1.56
 
$
64,959

Granted
45,000

 
$
16.94

 
 
 
 
Exercised
(1,361,542
)
 
$
0.75

 
 
 
 
Canceled
—

 
$
—

 
 
 
 
Outstanding at December 31, 2012
1,998,633

 
$
4.03

 
1.17
 
$
24,171

Granted
45,000

 
$
14.89

 
 
 
 
Exercised
(1,251,633
)
 
$
1.73

 
 
 
 
Canceled
—

 
$
—

 
 
 
 
Outstanding at December 31, 2013
792,000

 
$
8.28

 
1.00
 
$
5,093

Exercisable at December 31, 2013
679,500

 
$
6.78

 
0.65
 
$
5,387


The aggregate intrinsic value for stock options outstanding and exercisable is defined as the difference between the market value of the Company’s stock as of the end of the period and the exercise price of the stock options. The total intrinsic value of stock options exercised during 2013, 2012 and 2011 was $11.4 million, $24.8 million, $941 thousand, respectively.
Cash received or the value of stocks cancelled from option exercises under all share-based payment arrangements for the years ended December 31, 2013, 2012 and 2011, was $2.2 million, $1.0 million and $51 thousand, respectively.
A summary of non-vested options and changes for the years ended December 31, 2013, 2012 and 2011 is as follows:

 
Non-Vested Number of Shares
 
Weighted
Average
Exercise Price
 
 
 
 
Non-vested balance at January 1, 2011
247,690

 
$
14.07

Granted
45,000

 
$
20.58

Vested
(112,685
)
 
$
11.71

Canceled
—

 
$
—

Non-vested balance at December 31, 2011
180,005

 
$
17.17

Granted
45,000

 
$
16.94

Vested
(90,005
)
 
$
14.60

Canceled
—

 
$
—

Non-vested balance at December 31, 2012
135,000

 
$
18.80

Granted
45,000

 
$
14.89

Vested
(67,500
)
 
$
18.66

Canceled
—

 
$
—

Non-vested balance at December 31, 2013
112,500

 
$
17.32



The following table summarizes information about stock options outstanding by price range as of December 31, 2013:
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number Outstanding
 
Weighted-Average Remaining Contractual Life (Years)
 
Weighted-Average Exercise Price
 
Number of Shares
 
Weighted-Average Exercise Price
$1.75-$2.36
 
477,000

 
0.37
 
$
1.78

 
477,000

 
$
1.78

$14.89-$17.58
 
225,000

 
1.95
 
$
16.91

 
146,250

 
$
17.53

$20.58-$21.70
 
90,000

 
1.93
 
$
21.14

 
56,250

 
$
21.25

 
 
792,000

 
1.00
 
$
8.28

 
679,500

 
$
6.78



Restricted Stock—Pursuant to the Company’s restricted stock agreements, the restricted stock granted generally vests as follows: one third after one year, and the remaining in eight equal quarterly installments. The restricted stock also vests with respect to any unvested shares upon the applicable employee’s death, disability or retirement, the Company’s termination of the employee other than for cause, or for a change in control of the Company. A summary of the status of the Company’s non-vested restricted stock grant shares is presented in the following table:

 
Shares
 
Weighted-Average Grant Date
Fair Value
Non vested at January 1, 2011
210,285

 
$
9.98

Granted
103,469

 
$
23.33

Vested
(150,267
)
 
$
9.51

Forfeited
(18,406
)
 
$
8.79

Non vested at December 31, 2011
145,081

 
$
20.13

Granted
73,061

 
$
23.26

Vested
(90,379
)
 
$
18.89

Forfeited
(6,607
)
 
$
24.10

Non vested at December 31, 2012
121,156

 
$
22.74

Granted
32,842

 
$
15.91

Vested
(76,576
)
 
$
22.56

Forfeited
(2,157
)
 
$
23.42

Non vested at December 31, 2013
75,265

 
$
12.97


As of December 31, 2013 there was $1.2 million of total unrecognized compensation cost related to non-vested share based compensation arrangements granted under the 2006 and 2010 Incentive Compensation Program. That cost is expected to be recognized over a weighted-average period of 1.49 years. The total fair value of shares vested during the years ended December 31, 2013, 2012 and 2011 was $1.7 million, $1.7 million, and $1.4 million, respectively.
In the aggregate the total compensation expense recognized in connection with the restricted grants was $1.5 million, $1.5 million and $1.7 million during each of the years ending December 31, 2013, 2012 and 2011, respectively.
As of December 31, 2013 the Company has 5.7 million shares of common stock reserved for possible future stock option and restricted stock grants.
v2.4.0.8
Income Taxes
 12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

Income before income taxes consisted of:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
(In thousands)
Domestic
$
5,497

 
$
6,604

 
$
12,043

Foreign
64,655

 
71,425

 
61,452

Total
$
70,152

 
$
78,029

 
$
73,495



The income tax provision consisted of:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
(In thousands)
Current:
 
 
 
 
 
Federal
$
266

 
$
342

 
$
1,237

State
167

 
320

 
822

Foreign
5,371

 
4,497

 
2,990

 
$
5,804

 
$
5,159

 
$
5,049

Deferred:
 
 
 
 
 
Federal
6,185

 
3,827

 
3,699

State
(351
)
 
31

 
44

Foreign
(760
)
 
(1,557
)
 
(1,755
)
 
5,074

 
2,301

 
1,988

 
 
 
 
 
 
Provision for income taxes from ongoing operations at effective tax rate
$
10,878

 
$
7,460

 
$
7,037

Discrete Items:
 
 
 
 
 
Release of valuation allowance
—

 
—

 
(6,625
)
Windfall expense related to stock compensation
—

 
—

 
1,938

Enhanced R&D deduction - foreign operations
—

 
—

 
(233
)
Provision for income taxes from discrete items
—

 
—

 
(4,920
)
 
 
 
 
 
 
Total provision for income taxes
$
10,878

 
$
7,460

 
$
2,117


The income tax provision at the Federal statutory rate differs from the effective rate because of the following items:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
Statutory tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
Tax impact of foreign subsidiaries (primarily in Singapore)
(6.9
)%
 
(8.1
)%
 
(5.6
)%
State income taxes, net of federal benefit
(0.3
)%
 
0.4
 %
 
0.8
 %
Uncertain tax matters
9.7
 %
 
3.5
 %
 
0.2
 %
Tax holiday - India (Permanent Difference)
(15.2
)%
 
(15.6
)%
 
(15.1
)%
Passive income exemption - Sweden (Permanent Difference)
(3.5
)%
 
(3.1
)%
 
(3.0
)%
Acquisition contingent earnout liability adjustments
(5.0
)%
 
(0.4
)%
 
(1.0
)%
Other
1.7
 %
 
(2.1
)%
 
(1.8
)%
Effective tax rate from ongoing operations
15.5
 %
 
9.6
 %
 
9.5
 %
Discrete Items:
 

 
 

 
 

Release of valuation allowance
—
 %
 
—
 %
 
(9.0
)%
Windfall expense related to stock compensation
—
 %
 
—
 %
 
2.6
 %
Enhanced R&D deduction - foreign operations
—
 %
 
—
 %
 
(0.2
)%
Effective tax rate after discrete items
15.5
 %
 
9.6
 %
 
2.9
 %

Current deferred income tax assets and liabilities and long-term deferred tax assets and liabilities are presented on a net basis separately in the December 31, 2013 and 2012 accompanying Consolidated Balance Sheets. The individual balances in current and long-term deferred tax assets and liabilities are as follows:

 
2013
 
2012
 
(In thousands)
Current deferred income tax assets
$
961

 
$
2,074

Long-term deferred income tax assets
44,924

 
35,140

Total deferred income tax assets
45,885

 
37,214

Current deferred income tax liabilities
(705
)
 
(239
)
Long-term deferred income tax liabilities
(24,308
)
 
(23,895
)
Net deferred income tax asset
$
20,872

 
$
13,080




Deferred income taxes reflect the impact of temporary differences between amounts of assets and liabilities for financial reporting purposes and such amounts as measured by the applicable local jurisdiction tax laws. Temporary differences and carry forwards which comprise the deferred tax assets and liabilities as of December 31, 2013 and 2012 were as follows:
 
December 31, 2013
 
December 31, 2012
 
Deferred
 
Deferred
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In thousands)
Depreciation and amortization
$
580

 
$
—

 
$
102

 
$
—

Share-based compensation
781

 
—

 
721

 
—

Accruals and prepaids
3,415

 
788

 
1,627

 
239

Bad debts
394

 
—

 
446

 
—

Acquired intangible assets
—

 
24,225

 
—

 
23,895

Net operating loss carryforwards
19,698

 
—

 
20,573

 
—

Tax credit carryforwards
21,017

 
—

 
13,745

 
—

 
45,885

 
25,013

 
37,214

 
24,134

Valuation allowance
—

 
—

 
—

 
—

Total deferred taxes
$
45,885

 
$
25,013

 
$
37,214

 
$
24,134



No significant discrete events occurred in 2013.
As of December 31, 2013, the Company has remaining available domestic net operating loss (“NOL”) carry-forwards of $51.0 million (net of $5.7 million utilized to offset domestic taxable income for 2013), which are available to offset future federal and certain state income taxes. The Company reviews its NOL positions to validate that all NOL carry-forwards will be utilized before they begin to expire. Portions of these remaining NOL's will expire during the years 2020 through 2027.
The Company's consolidated worldwide effective tax rate is relatively low because of the effect of conducting significant operating activities in certain foreign jurisdiction with low tax rates and where a large portion of its taxable income is generated. Furthermore, the Company's worldwide product development operations and intellectual property ownership is centralized in its India and Singapore subsidiaries, respectively. Our operations in India benefit from a tax holiday, which will continue through the year 2015; as such the Company's local India taxable income derived from export activities in support of our operating divisions around the world is not taxed. After the tax holiday expires taxable income generated by our India operations will be taxed at 50% of the normal 33.99% corporate tax rate for a period of five years. This tax holiday had the effect of reducing tax expense by $10.5 million or approximately $0.270 per diluted share in 2013 with $7.16 million of Minimum Alternative Tax ("MAT") tax prepaid/accrued against 2013 income during the year ended December 31, 2013, for future taxes to be paid in India.
The Company also has a relatively low income tax rate in Singapore in which our operations are taxed at a 10% marginal tax rate as a result of concessions granted by the local Singapore Economic Development Board ("EDB") for the benefit of in-country intellectual property owners. The concessionary 10% income tax rate will expire after 2015, at which time our Singapore operations will be subject to the prevailing corporate tax rate in Singapore, which is currently 17%, unless the Company reaches a subsequent agreement to extend the incentive period and the then applicable concessionary rate. The concessionary tax rate granted by the EDB as compared to the statutory tax in effect in Singapore reduces income tax expense by $1.3 million or approximately $0.033 per diluted share in 2013.
The pre-tax income from the applicable statutory tax rates in each jurisdiction in which the Company had operations for the year ending December 31, 2013 were as follows:


(dollar amounts in thousands)
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe(United Kingdom)
 
Sweden
 
Total
Pre-tax income
$
5,497

 
$
1,344

 
$
966

 
$
4,579

 
$
17,523

 
$
485

 
$
31,387

 
$
1,360

 
$
7,011

 
$
70,152

Statutory tax rate
35.0
%
 
30.5
%
 
34.0
%
 
30.0
%
 
10.0
%
 
28.0
%
 
—
%
 
24.0
%
 
—
%
 
 

The income from the Company's operations in India is subject to a 19.94% MAT. The tax paid under the MAT provisions is carried forward for a period of up to ten years following the end of the year in which the MAT tax has been paid as a set off against future tax liabilities computed under the regular corporate income tax provisions using the statutory 33.99% corporate income tax rate. During the year ended December 31, 2013, the Company paid/accrued $7.16 million in MAT tax. The accompanying Consolidated Balance Sheets as of December 31, 2013 and 2012 includes a long-term deferred tax asset in the amount of $18.64 million and $11.54 million , respectively, associated with cumulative future MAT tax credit entitlement.
The Company has not recognized a deferred U.S. tax liability and associated income tax expense for the undistributed earnings of its foreign subsidiaries which we consider indefinitely invested because those foreign earnings will remain permanently reinvested in those subsidiaries to fund ongoing operations and growth. Hypothetically if those earnings were to be not considered indefinitely invested, approximately $91.8 million of deferred U.S. income taxes would had to have been provided as of December 31, 2013.
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. With the exception of NOL carryforwards, the Company is no longer subject to U.S. federal or state tax examinations by tax authorities for years before 2007 due to the expiration of the statute of limitations. There is an open federal income tax audit in progress for taxable years 2008 through 2011. In connection with this open audit, the Company has responded to a number of information requests from the IRS, but there has been no formal identification of potential deficiencies or assessments to date. Regarding our foreign operations as of December 31, 2013, the tax years that remain open and possibly subject to examination by the tax authorities in those jurisdictions are Australia (2007 to 2013), Singapore and Brazil (2008 to 2013), New Zealand (2009 to 2013), and India (2008 to 2013).
The Company follows the provisions of FASB accounting guidance on accounting for uncertain income tax positions. Accordingly liabilities are recognized for a tax position, where based solely on its technical merits, it is believed to be more likely than not fully sustainable upon examination. This liability is included in other long-term liabilities in the accompanying consolidated balance sheets. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

 
December 31, 2013
 
December 31, 2012
 
December 31, 2011
 
(in thousands)
Beginning Balance
$
5,925

 
$
3,180

 
$
2,980

Additions for tax positions related to current year
6,546

 
2,482

 
1,949

Additions for tax positions of prior years
271

 
263

 
307

Reductions for tax position of prior years
—

 
—

 
(2,056
)
Ending Balance
$
12,742

 
$
5,925

 
$
3,180


The Company recognizes interest accrued and penalties related to unrecognized tax benefits as part of income tax expense. As of December 31, 2013 approximately $1.05 million of estimated interest and penalties, which is part of the $12.74 million ending balance in the preceding table, is included in other long-term liabilities in the accompanying Consolidated Balance Sheet.
v2.4.0.8
Stock Repurchases
 12 Months Ended
Dec. 31, 2013
Stock Repurchases [Abstract]  
Stock Repurchases
Stock Repurchases

Effective June 21, 2013 the Company's Board of Directors unanimously approved an additional authorized share repurchase plan of $100 million. The Board directed that the repurchases be funded with available cash balances and cash generated by the Company's operating activities, and be completed in the subsequent twenty-four months if possible.

Effective June 30, 2011 the Board of Directors of Ebix, Inc. unanimously approved an increase in the size of the Company's authorized share repurchase plan to acquire up to $100 million of the Company’s current outstanding shares of common stock. Under the terms of the Board’s authorization, the Company retains the right to repurchase up to $100 million in shares but does not have to repurchase this entire amount. The repurchase plan’s terms have been structured to comply with the SEC’s Rule 10b-18, and are subject to market conditions and applicable legal requirements. The program does not obligate the Company to acquire any specific number of shares and may be suspended or terminated at any time. All purchases are made in the open market and are expected to be funded from existing cash. Treasury stock is recorded at its acquired cost. During 2013 the Company repurchased 250,900 shares of its common stock under this plan for total consideration of $2.5 million. During 2012 the Company repurchased 983,818 shares of its common stock under this plan for total consideration of $18.4 million. In addition during 2011 the Company repurchased 3,510,973 shares of its common stock under this plan for total consideration of $63.7 million. As of December 31, 2013 the Company had $102.9 million remaining in its share repurchase authorization.
v2.4.0.8
Derivative Instruments
 12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
Derivative Instruments
The Company had recently used derivative instruments that were not designated as hedges under FASB accounting guidance related to the accounting for derivative instruments, to hedge the fluctuations in foreign exchange rates for recognized balance sheet items such as intercompany receivables. As of December 31, 2013 all of the Company's previous foreign currency hedge contracts matured. The inputs that were used in the valuation of the hedge contracts included the USD/INR foreign currency exchange spot rates in effect at the inception date of the contract, forward premiums, forward foreign currency exchange rates, term, and contract maturity date. The intended purpose of those hedging instruments was to offset the income statement impact of recorded foreign exchange transaction gains and losses resulting from U.S. dollar denominated intercompany invoices issued by our Indian subsidiary whose functional currency had been the Indian rupee until it was changed to the U.S. dollar effective July 1, 2012. The change in the fair value of these derivatives was recorded in foreign currency exchange gains (losses) in the Consolidated Statements of Income and was $0 , $1.2 million, and $(2.6) million for the years ended December 31, 2013 , 2012, and 2011, respectively. These gains (losses) are in addition to the consolidated foreign exchange gains (losses) equivalent to $(262) thousand , $776 thousand , and $6.9 million recognized during the years ended December 31, 2013, 2012, and 2011, respectively, incurred by our subsidiaries for settlement of transactions denominated in other than their functional currency. The Company classifies its foreign currency hedges, for which the fair value is remeasured on a recurring basis at each reporting date, as a Level 2 instrument (i.e. wherein fair value is determined and based on observable inputs other than quoted market prices), which we believe is the most appropriate level within the fair value hierarchy based on the inputs used to determine its the fair value at the measurement date.
    In connection with the acquisition of PlanetSoft effective June 1, 2012, Ebix issued a put option to PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the 30-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share, which represents the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. In accordance with the relevant authoritative accounting literature a portion of the total purchase consideration was allocated to this put liability based on its initial fair value, which was determined to be $1.4 million using a Black-Scholes model. The inputs used in the valuation of the put option include term, stock price volatility, current stock price, exercise price, and the risk free rate of return. At December 31, 2013 the fair value of the put option liability was re-measured and was determined to have decreased $341 thousand during the year ended December 31, 2013 with this amount reflected as a gain included in other non-operating income in the accompanying Consolidated Statement of Income. As of December 31, 2013, the aggregate fair value of this derivative instrument, which is included in the current liabilities section of the Consolidated Balance Sheet, was $845 thousand. As of December 31, 2012, the aggregate fair value of this derivative instrument, which was included as in the long term liabilities section of that year's Consolidated Balance Sheet, was $1.2 million. The Company has classified the put option, for which the fair value is re-measured on a recurring basis at each reporting date as a Level 2 instrument (i.e. wherein fair is partially determined and based on observable inputs other than quoted market prices), which we believe is the most appropriate level within the fair value hierarchy based on the inputs used to determine its fair value at the measurement date.
v2.4.0.8
Accounts Payable and Accrued Expenses
 12 Months Ended
Dec. 31, 2013
Accounts Payable and Accrued Liabilities, Current [Abstract]  
Accounts Payable and Accrued Expenses
Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at December 31, 2013 and December 31, 2012, consisted of the following:
 
2013
 
2012
 
(In thousands)
Trade accounts payable
$
4,515

 
$
5,607

Accrued professional fees
1,046

 
295

Income taxes payable
8,173

 
6,913

Sales taxes payable
4,038

 
2,651

Other accrued liabilities
46

 
31

Total
$
17,818

 
$
15,497
v2.4.0.8
Other Current Assets
 12 Months Ended
Dec. 31, 2013
Prepaid Expense and Other Assets, Current [Abstract]  
Other Current Assets
Other Current Assets

Other current assets at December 31, 2013 and December 31, 2012 consisted of the following:
 
2013
 
2012
 
(In thousands)
Prepaid expenses
$
3,824

 
$
3,189

Sales taxes receivable from customers
220

 
598

Due from prior owners of acquired businesses for working capital settlements
720

 
955

Research and development tax credits receivable
720

 
266

Other
64

 
108

Total
$
5,548

 
$
5,116
v2.4.0.8
Property and Equipment
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment

Property and equipment at December 31, 2013 and 2012 consisted of the following:
 
2013
 
2012
 
(In thousands)
Computer equipment
$
12,417

 
$
11,729

Buildings
3,119

 
3,103

Land
59

 
66

Leasehold improvements
2,648

 
2,632

Furniture, fixtures and other
5,035

 
4,888

 
23,278

 
22,418

Less accumulated depreciation and amortization
(14,750
)
 
(12,336
)
 
$
8,528

 
$
10,082



Depreciation expense was $2.8 million, $3.1 million and $2.7 million, for the years ended December 31, 2013, 2012 and 2011, respectively.
v2.4.0.8
Other Liabilities
 12 Months Ended
Dec. 31, 2013
Other Liabilities Disclosure [Abstract]  
Other Liabilities
Other Liabilities

Other liabilities at December 31, 2013 and December 31, 2012 consisted of the following:

 
2013
 
2012
 
(In thousands)
Reserve for potential uncertain income tax return positions
$
12,742

 
$
5,925

Unfavorable lease liability, long term portion
394

 
499

Other
5

 
5

Total
$
13,141

 
$
6,429
v2.4.0.8
Cash Option Profit Sharing Plan and Trust
 12 Months Ended
Dec. 31, 2013
Cash Option Profit Sharing Plan and Trust [Abstract]  
Cash Option Profit Sharing Plan and Trust
Cash Option Profit Sharing Plan and Trust

The Company maintains a 401(k) Cash Option Profit Sharing Plan, which allows participants to contribute a percentage of their compensation to the Profit Sharing Plan and Trust up to the Federal maximum. The Company’s contributions to the Plan were $368 thousand, $364 thousand and $318 thousand for the years ending December 31, 2013, 2012 and 2011, respectively.
v2.4.0.8
Geographic Information
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Geographic Information
Geographic Information

The Company operates with one reportable segment whose results are regularly reviewed by the Company's chief operating decision maker as to performance and allocation of resources. External customer revenues in the tables below were attributed to a particular country based on whether the customer had a direct contract with the Company which was executed in that particular country for the sale of the Company's products/services with an Ebix subsidiary located in that country.
The following enterprise wide information relates to the Company's geographic locations (all amounts in thousands):

Year Ended December 31, 2013

 
 
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe
 
Total
External Revenues
 
$
139,519

 
$
7,431

 
$
5,508

 
$
38,260

 
$
3,114

 
$
2,311

 
$
650

 
$
7,917

 
$
204,710

Long-lived assets
 
$
309,732

 
$
8,784

 
$
10,886

 
$
803

 
$
68,987

 
$
97

 
$
23,784

 
$
28,442

 
$
451,515


Year Ended December 31, 2012

 
 
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe
 
Total
External Revenues
 
$
140,933

 
$
6,395

 
$
8,227

 
$
36,330

 
$
2,827

 
$
2,205

 
$
233

 
$
2,220

 
$
199,370

Long-lived assets
 
$
317,338

 
$
9,738

 
$
12,726

 
$
1,267

 
$
70,173

 
$
240

 
$
11,784

 
$
12,011

 
$
435,277


Year Ended December 31, 2011

 
 
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe
 
Total
External Revenues
 
$
120,780

 
$
836

 
$
10,504

 
$
31,991

 
$
2,943

 
$
1,915

 
$
—

 
$
—

 
$
168,969

Long-lived assets
 
$
259,425

 
$
—

 
$
14,179

 
$
1,286

 
$
63,866

 
$
233

 
$
8,376

 
$
—

 
$
347,365
v2.4.0.8
Related Party Transactions
 12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions

We had considered Bank of America (“BOA") to be a related party because BOA previously provided commercial financing to the Company and its parent until April 2012, and that BOA/Merrill Lynch is also a customer to whom the Company sells products and services. Revenues recognized from BOA/Merrill Lynch were $1.2 million and $860 thousand for each of the years ending December 31, 2012 and 2011, respectively. Accounts receivable due from BOA/Merrill Lynch was $216 thousand at December 31, 2012. On April 26, 2012, Ebix fully paid all of its obligations and related fees then outstanding to BOA. The aggregate amount of the payment was $45.14 million and was funded from a portion of the proceeds of the Citibank led Secured Syndicated Credit Facility that replaced the former BOA led syndicated credit facility.
v2.4.0.8
Quarterly Financial Information (unaudited)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited)
The following is the unaudited quarterly financial information for 2013, 2012 and 2011:
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
 
(in thousands, except share data)
Year Ended December 31, 2013
 
 
 
 
 
 
 
 
Total revenues
 
$
52,566

 
$
51,004

 
$
50,293

 
$
50,847

Gross Profit
 
42,675

 
40,646

 
40,157

 
40,761

Operating income
 
19,305

 
19,294

 
18,601

 
17,806

Net income
 
17,344

 
13,542

 
13,143

 
15,245

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.47

 
$
0.36

 
$
0.35

 
$
0.40

Diluted
 
$
0.45

 
$
0.35

 
$
0.34

 
$
0.40

Year Ended December 31, 2012
 
 
 
 
 
 
 
 
Total revenues
 
$
43,827

 
$
47,716

 
$
53,804

 
$
54,023

Gross Profit
 
34,798

 
38,559

 
44,304

 
43,576

Operating income
 
18,329

 
17,711

 
20,708

 
20,260

Net income
 
15,685

 
18,067

 
18,072

 
18,745

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.43

 
$
0.49

 
$
0.49

 
$
0.50

Diluted
 
$
0.40

 
$
0.47

 
$
0.46

 
$
0.48

Year Ended December 31, 2011
 
 
 
 
 
 
 
 
Total revenues
 
$
40,050

 
$
42,267

 
$
42,602

 
$
44,050

Gross Profit
 
32,743

 
33,353

 
33,895

 
35,389

Operating income
 
15,634

 
18,605

 
17,954

 
16,556

Net income
 
15,164

 
22,348

 
16,536

 
17,330

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.40

 
$
0.57

 
$
0.44

 
$
0.48

Diluted
 
$
0.37

 
$
0.53

 
$
0.41

 
$
0.44


In some instances the sum of the quarterly basic and diluted net income per share amounts may not agree to the full year basic and diluted net income per share amounts reported on the Consolidated Statements of Income because of rounding.
v2.4.0.8
Minority Business Investment
 12 Months Ended
Dec. 31, 2013
Investments, All Other Investments [Abstract]  
Minority Business Investment
Minority Business Investment

During 2012, Ebix acquired a minority 19.8% interest in CurePet, Inc. ("CurePet") for cash consideration in the amount of $2.0 million. CurePet is a developmental-stage enterprise that has completed an insurance exchange that connects pet owners, referring veterinarians, animal hospitals, academic institutes, and suppliers of medical and general pet supplies, while providing a wide variety of services related to pet insurance to each constituent including practice management, electronic medical records, and billing. CurePet is also a customer of Ebix; during 2013 and 2012 the Company recognized $1.2 million and $1.5 million, respectfully, of revenue from CurePet, and as of December 31, 2013 and 2012 there were $1.4 million and $212 thousand, respectfully, of outstanding balances due from CurePet in the Company's reported trade accounts receivable. Ebix also has a revenue share arrangement with CurePet pertaining to certain customer revenues recognized by CurePet; for 2013, there have been no revenue sharing earned or accrued. The Company is accounting for its minority investment in CurePet using the cost method. The fair value of this investment as of December 31, 2013 was determined by an independent valuation expert using a combination of the income approach (discounted cash flow method) and market approach. Based on this independent evaluation it was concluded that the fair value of this minority business investment was greater than the Company's carrying value of the investment, and therefore the investment was not impaired as of December 31, 2013. As also disclosed in Note 21 "Subsequent Events," effective January 27, 2014 Ebix acquired the entire business of CurePet in an asset purchase agreement with the total purchase consideration being in the amount of $6.35 million of which $5.0 million pertains to a contingent earnout liability based on earned revenues over the subsequent thirty-six month period following the date of the acquisition.
v2.4.0.8
Temporary Equity Temporary Equity
 12 Months Ended
Dec. 31, 2013
Temporary Equity Disclosure [Abstract]  
Temporary Equity
Temporary Equity

The $5.0 million of temporary equity reported on the Company's consolidated balance sheet as of December 31, 2013 is in connection with the June 1, 2012 acquisition of PlanetSoft. As part of the consideration paid for PlanetSoft in accordance with terms of the merger agreement the former PlanetSoft shareholders received 296,560 shares of Ebix common stock valued at $16.86 per share or $5.0 million in the aggregate. In regards to these shares of Ebix common stock, and as discussed in Note 10 "Derivative Instruments," the Company issued a put option to PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share. Accordingly and in compliance with Accounting Standards Codification ("ASC") 480 "Accounting for Redeemable Equity Instruments," in that the common stock is redeemable for cash at the option of the holders, and not within control of the Company, it is presented outside of the stockholders equity section of the consolidated balance sheet, and shown as a separate line referred to as "temporary equity" on the consolidated balance sheet appearing after liabilities, and before the stockholders' equity section, and will remain so until the second quarter of 2014.
v2.4.0.8
Subsequent Events
 12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

Business Acquisition
Effective January 27, 2014 Ebix acquired the entire business of CurePet in an asset purchase agreement with the total purchase consideration being in the amount of $6.35 million which includes a possible contingent earnout payment of up to $5.0 million based on earned revenues over the subsequent thirty-six month period following the date of the acquisition. Previously and as discussed in Note 19 "Minority Business Investment" during 2012, Ebix acquired a minority 19.8% interest in CurePet, Inc. ("CurePet") for cash consideration in the amount of $2.0 million. CurePet is a business that has completed an insurance exchange that connects pet owners, referring veterinarians, animal hospitals, academic institutes, and suppliers of medical and general pet supplies, while providing a wide variety of services related to pet insurance to each constituent including practice management, electronic medical records, and billing.

Dividends
As announced on February 5, 2014, the Company resumed its quarterly cash dividend to the holders of its common stock, whereby a dividend in the amount of $0.075 per common share will be paid March 14, 2014 to shareholders of record on February 20, 2014.

Repurchases of Common Stock
Since December 31, 2013 and through March 17, 2014 the Company has purchased an additional 137,071 shares of its outstanding common stock for aggregate consideration in the amount of $2.23 million. All share repurchases were done in accordance with Rule 10b-18 of the Securities Act of 1934 as to the timing, pricing, and volume of such transactions, and were completed using available cash resources and cash generated from the Company's operating activities.



Shareholder Securities Class Action Settlement
On March 7, 2014 the Company remitted $4.2 million to the requisite escrow agent in compliance with the settlement agreement in the shareholder securities class action styled In re: Ebix, Inc. Securities Litigation, Civil Action No. 1:11-CV-02400-RWS (N.D. Ga.).
v2.4.0.8
Schedule II - Valuation and Qualifying Accounts Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2013
Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
Schedule II
Ebix, Inc.

Schedule II—Valuation and Qualifying Accounts
for the Years ended December 31, 2013, December 31, 2012 and December 31, 2011
Allowance for doubtful accounts receivable (in thousands)
 
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
Beginning balance
 
$
1,157

 
$
1,719

 
$
1,126

Provision for doubtful accounts
 
1,147

 
442

 
976

Write-off of accounts receivable against allowance
 
(1,276
)
 
(1,004
)
 
(725
)
Other
 
21

 
—

 
342

Ending balance
 
$
1,049

 
$
1,157

 
$
1,719

Valuation allowance for deferred tax assets (in thousands)
 
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
Beginning balance
 
$
—

 
$
—

 
$
(6,626
)
Decrease (increase)
 
—

 
—

 
6,626

Ending balance
 
$
—

 
$
—

 
$
—
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation— The consolidated financial statements include the accounts of Ebix and its wholly owned subsidiaries. The effect of inter-company balances and transactions has been eliminated.
Use of Estimates
Use of Estimates—The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and reported amounts of revenue and expenses during those reporting periods. Management has made material estimates primarily with respect to revenue recognition and deferred revenue, accounts receivable, acquired intangible assets, contingent earnout liabilities in connection with business acquisitions, business investments, and the provision for income taxes. Actual results may be materially different from those estimates.
Reclassification
Reclassification—Certain of the reported balances and results for prior year or prior quarters, including the notes thereto, have been reclassified to conform to the current year presentation. In particular the short-term and long-term portions of the contingent liability for accrued earn-out acquisition consideration is now disclosed separately in the respective sections of the consolidated balance sheets rather than in other current liabilities or other liabilities. The change in reserve for potential uncertain income tax return positions had been previously netted against the provision for deferred taxes line in the consolidated statements of cash flows, it is now shown separately. Also the excess tax benefits from share-based compensation is now reported as a component of financing cash flows rather than being netted against the provision for deferred taxes as a component of operating cash flows in the consolidated statements of cash flows.
Segment Reporting
Segment Reporting—Since the Company, from the perspective of its chief operating decision maker, allocates resources and evaluates business performance as a single entity that provides software and related services to a single industry on a worldwide basis, the Company reports as a single segment.
Cash and Cash Equivalents
Cash and Cash Equivalents—The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. Such investments are stated at cost, which approximates fair value. The Company does maintain cash balances in banking institutions in excess of federally insured amounts and therefore is exposed to the related potential credit risk associated with such cash deposits.
Short-term Investments
Short-term Investments—The Company’s short-term investments consist of certificates of deposits with established commercial banking institutions with readily determinable fair values. Ebix accounts for investments that are reasonably expected to be realized in cash, sold or consumed during the year as short-term investments that are available-for-sale. The carrying amount of investments in marketable securities approximates their fair value.
Fair Value of Financial Instruments
Fair Value of Financial Instruments—The Company follows the relevant GAAP guidance regarding the determination and measurement of the fair value of financial instruments in which fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction valuation hierarchy which requires an entity to maximize the use of observable inputs when measuring fair value. The guidance describes the following three levels of inputs that may be used in the methodology to measure fair value:
•
Level 1 — Quoted prices available in active markets for identical investments as of the reporting date;
•
Level 2 — Inputs other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date; and,
•
Level 3 — Unobservable inputs, which are to be used in situations where there is little or no market activity for the asset or liability and wherein the reporting entity makes estimates and assumptions related to the pricing of the asset or liability including assumptions regarding risk.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
As of December 31, 2013 and 2012 the Company has the following financial instruments to which it had to consider fair values and had to make fair assessments:
•
Common share-based put option for which the fair value was measured as Level 2 instrument.
•
Short-term investments for which the fair values are measured as a Level 1 instrument.
•
Contingent accrued earn-out business acquisition consideration liabilities for which fair values are measured as Level 3 instruments. These contingent consideration liabilities were recorded at fair value on the acquisition date and are remeasured periodically based on the then assessed fair value and adjusted if necessary. The increases or decreases in the fair value of contingent consideration payable can result from changes in anticipated revenue levels and changes in assumed discount periods and rates. As the fair value measure is based on significant inputs that are not observable in the market, they are categorized as Level 3.

Other financial instruments not measured at fair value on the Company's consolidated balance sheets at December 31, 2013 and 2012 but which require disclosure of their fair values include: cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, accrued payroll and related benefits, capital lease obligations debt under the revolving line of credit and term loans with Citibank, and business investments. The estimated fair value of such instruments at December 31, 2013 and 2012 reasonably approximates their carrying value as reported on the consolidated balance sheets.
Revenue Recognition and Deferred Revenue
Revenue Recognition and Deferred Revenue—The Company derives its revenues primarily from professional and support services, which includes revenue generated from subscription and transaction fees pertaining to services delivered over our exchanges or from our application service provider (“ASP”) platforms, software development projects and associated fees for consulting, implementation, training, and project management provided to customers using our systems, and business process outsourcing revenue ("BPO"). Sales and value-added taxes are not included in revenues, but rather are recorded as a liability until the taxes assessed are remitted to the respective taxing authorities.
The Company follows the relevant technical accounting guidance regarding revenue recognition as issued by the Financial Accounting Standards Board ("FASB") and the Securities and Exchange Commission's ("SEC"). The Company considers revenue earned and realizable when: (a) persuasive evidence of the sales arrangement exists, (b) the arrangement fee is fixed or determinable, (c) service delivery or performance has occurred, (d) customer acceptance has been received or is reasonably assured, if contractually required, and (e) collectability of the arrangement fee is probable. The Company typically uses signed contractual agreements as persuasive evidence of a sales arrangement. We apply the provisions of the relevant FASB accounting pronouncements related to all transactions involving the license of software where the software deliverables are considered more than inconsequential to the other elements in the arrangement. For contracts that contain multiple deliverables, we analyze the revenue arrangements in accordance with the appropriate authoritative guidance, which provides criteria governing how to determine whether goods or services that are delivered separately in a bundled sales arrangement should be considered as separate units of accounting for the purpose of revenue recognition. Deliverables are accounted for separately if they meet all of the following criteria: a) the delivered item has value to the customer on a stand-alone basis; b) there is objective and reliable evidence of the fair value for all arrangement deliverables; and c) if the arrangement includes a general right of return relative to the delivered items, the delivery or performance of the undelivered items is probable and substantially controlled by the Company. Under the relevant accounting guidance, when multiple-deliverables included in an arrangement are to be separated into different units of accounting, the arrangement consideration is allocated to the identified separate units of accounting based on their relative fair values. We determine the relative selling price for a deliverable based on vendor-specific objective evidence of selling price (“VSOE”), if available, or third-party evidence ("TPE") in the alternative if available, or finally our best estimate of selling price (“BESP”), if VSOE or TPE is not available.
The Company begins to recognize revenue from license fees for its exchange (SAAS) and ASP products upon granting customer access to the respective processing platform. Transaction services fee revenue for this use of our exchanges or ASP platforms is recognized as the transactions occur and are generally billed in arrears. Revenues from BPO arrangements, which include data entry and call center services, and insurance certificate creation and tracking services, are recognized as the services are performed. Service fees for hosting arrangements are recognized over the requisite service period. Revenue derived from the licensing of third party software products in connection with sales of the Company’s software licenses is recognized upon delivery together with the Company’s licensed software products. Fees for training, data conversion, installation, and consulting services fees are recognized as revenue when the services are performed. Revenue for maintenance and support services are recognized ratably over the term of the support agreement.
Software development arrangements involving significant customization, modification or production are accounted for in accordance with the appropriate technical accounting guidance issued by the FASB using the percentage-of-completion method. The Company recognizes revenue using periodic reported actual hours worked as a percentage of total expected hours required to complete the project arrangement and applies the percentage to the total arrangement fee.
Deferred revenue includes payments or billings that have been received or made prior to performance and, in certain cases, cash collections and primarily pertain to maintenance and support fees, initial setup or registration fees under hosting agreements, software license fees received in advance of delivery and acceptance, and software development fees paid in advance of completion and delivery.
Accounts Receivable and the Allowance for Doubtful Accounts Receivable

of unbilled receivables. The unbilled receivables pertain to certain professional service engagements and long-term development projects for which the timing of billing is tied to contractual milestones. The Company adheres to such contractually stated performance milestones and accordingly issues invoices to customers as per contract billing schedules. Accounts receivable are written off against the allowance for doubtful accounts receivable when the Company has exhausted all reasonable collection efforts. Management specifically analyzes the aging of accounts receivable and historical bad debts, write-offs, customer concentrations, customer credit-worthiness, current economic trends, and changes in our customer payment patterns when evaluating the adequacy of the allowance for doubtful accounts receivable.
Accounts Receivable and the Allowance for Doubtful Accounts Receivable—
Costs of Services Provided
Costs of Services Provided—Costs of services provided consist of data processing costs, customer support costs including personnel costs to maintain our proprietary databases, costs to provide customer call center support, hardware and software expense associated with transaction processing systems and exchanges, telecommunication and computer network expense, and occupancy costs associated with facilities where these functions are performed. Depreciation expense is not included in costs of services provided.
Goodwill and Indefinite-lived Intangible Assets
The Company’s indefinite-lived assets are associated with the estimated fair value of the contractual customer relationships existing with the property and casualty insurance carriers in Australia using our property and casualty ("P&C") data exchange and with certain large corporate customers using our client relationship management (“CRM”) platform in the United States. Prior to these underlying business acquisitions Ebix had pre-existing contractual relationships with these carriers and corporate clients. The contracts are renewable at little or no cost, and Ebix intends to continue to renew these contracts indefinitely and has the ability to do so. The proprietary technology supporting the P&C data exchange and CRM platform that is used to deliver services to these carriers and corporate clients, cannot feasibly be effectively replaced in the foreseeable future, and accordingly the cash flows forthcoming from these customers are expected to continue indefinitely. With respect to the determination of the indefinite life, the Company considered the expected use of these intangible assets, historical experience in renewing or extending similar arrangements, and the effects of competition, and concluded that there were no indications from these factors to suggest that the expected useful life of these customer relationships would be finite. The Company concluded that no legal, regulatory, contractual, or competitive factors limited the useful life of these intangible assets and therefore their life was considered to be indefinite, and accordingly the Company expects these customer relationships to remain the same for the foreseeable future. The fair values of these indefinite-lived intangible assets were based on the analysis of discounted cash flow (“DCF”) models extended out fifteen to twenty years. In that indefinite-lived does not imply an infinite life, but rather means that the subject customer relationships are expected to extend beyond the foreseeable time horizon, we utilized fifteen to twenty year DCF projections, as the valuation models that were applied consider a fifteen to twenty year time frame to be an indefinite period. Indefinite-lived intangible assets are not amortized, but rather are tested for impairment annually. We perform our annual impairment testing of indefinite-lived intangible assets as of September 30th of each year. During the years ended December 31, 2013, 2012, and 2011, we had no impairments to the recorded balances of our indefinite-lived intangible assets. We perform the impairment test for our indefinite-lived intangible assets by comparing the asset’s fair value to its carrying value. An impairment charge is recognized if the asset’s estimated fair value is less than its carrying value.
Goodwill and Indefinite-Lived Intangible Assets— Goodwill represents the cost in excess of the fair value of the identifiable net assets from the businesses that we acquire. In accordance with the relevant FASB accounting guidance, goodwill is tested for impairment at the reporting unit level on an annual basis or on an interim basis if an event occurred or circumstances change that would indicate that fair value of a reporting unit decreased below its carrying value. Potential impairment indicators include a significant change in the business climate, legal factors, operating performance indicators, competition, and the sale or disposition of a significant portion of the business. Starting in 2011, the Company applied the then new guidance concerning goodwill impairment evaluation. In accordance with that new technical guidance the Company first assessed certain qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that the fair value of any of our reporting units was less than its carrying amount. If after assessing the totality of events or circumstances, we were to determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then we would not perform the two-step quantitative impairment testing described further below.
The aforementioned two-step quantitative testing process involves comparing the reporting unit carrying values to their respective fair values; we determine fair value of our reporting units by applying the discounted cash flow method using the present value of future estimated net cash flows. If the fair value of a reporting unit exceeds its carrying value, then no further testing is required. However, if a reporting unit’s fair value were to be less than its carrying value, we would then determine the amount of the impairment charge, if any, which would be the amount that the carrying value of the reporting unit’s goodwill exceeded its implied value. Projections of cash flows are based on our views of growth rates, operating costs, anticipated future economic conditions, the appropriate discount rates relative to risk, and estimates of residual values and terminal values. We believe that our estimates are consistent with assumptions that marketplace participants would use in their estimates of fair value. The use of different estimates or assumptions for our projected discounted cash flows (e.g., growth rates, future economic conditions, discount rates, and estimates of terminal values) when determining the fair value of our reporting units could result in different values and may result in a goodwill impairment charge. We perform our annual goodwill impairment evaluation and testing as of September 30 each year. During the years ended December 31, 2013, 2012, and 2011, we had no impairment of our reporting unit goodwill balances.
Purchased Intangible Assets
Purchased Intangible Assets—Purchased intangible assets represent the estimated fair value of acquired intangible assets from the businesses that we acquire in the U.S. and foreign countries in which we operate. These purchased intangible assets include customer relationships, developed technology, informational databases, and trademarks. We amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:
 
Life
Category
(yrs)
Customer relationships
7-20

Developed technology
3-12

Trademarks
3-15

Non-compete agreements
5

Database
10
Income Taxes
Income Taxes— The Company follows the asset and liability method of accounting for income taxes pursuant to the pertinent guidance issued by the FASB. Deferred income taxes are recorded to reflect the tax consequences on future years of differences between the tax basis of assets and liabilities, and operating loss and tax credit carry forwards, and their financial reporting amounts at each period end using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In assessing the realizability of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. A valuation allowance is recorded for the portion of the deferred tax assets that are not expected to be realized based on the levels of historical taxable income and projections for future taxable income over the periods in which the temporary differences will be deductible.
The Company follows the provisions of FASB accounting guidance on accounting for uncertain income tax positions. The guidance utilizes a two-step approach for evaluating tax positions. Recognition (“Step 1”) occurs when an enterprise concludes that a tax position, based solely on its technical merits is more likely than not to be sustained upon examination. Measurement (“Step 2”) is only addressed if Step 1 has been satisfied. Under Step 2, the tax benefit is measured at the largest amount of benefit, determined on a cumulative probability basis that is more likely than not to be realized upon final settlement. As used in this context, the term “more likely than not” is interpreted to mean that the likelihood of occurrence is greater than 50%.
Foreign Currency Translation
Foreign Currency Translation—Historically the functional currency for the Company's foreign subsidiaries in India and Singapore had been the Indian rupee and Singapore dollar, respectively. As a result of the Company's rapid growth, including the acquisition of PlanetSoft in June 2012, the expansion of its intellectual property research and development activities in its Singapore subsidiary, and the expansion of its product development activities and information technology enabled services for the insurance industry provided by its India subsidiary in support of Ebix's operating divisions across the world (both of which are transacted in U.S. dollars), management undertook a reconsideration of functional currency designations for these two foreign subsidiaries in India and Singapore, and concluded that effective July 1, 2012 the functional currency for these entities should be changed to the U.S. dollar. Management believes that the acquisition of PlanetSoft in combination with the other recent business acquisitions, and the cumulative effect of business acquisitions made over the last few years which necessitated the rapid growth of the Company's operations in India and Singapore, were indicative of a significant change in the economic facts and circumstances that justified the reconsideration and ultimate change in the functional currency. Had the change in the functional currency designation for our India and Singapore subsidiaries not been made, the Company would have incurred and recognized approximately $49 thousand of additional foreign currency exchange gains during the year ended December 31, 2012. Furthermore, a portion of monetary assets and liabilities for these two foreign subsidiaries that are denominated in foreign currencies are re-measured into U.S. dollars at the exchange rates in effect at each reporting date. These corresponding re-measurement gains and losses are included as a component of foreign currency exchange gains and losses in the accompanying Consolidated Statements of Income and amounted to a $151 thousand loss for the year ended December 31, 2012.
The functional currency of the Company's other foreign subsidiaries is the local currency of the country in which the subsidiary operates. The assets and liabilities of these foreign subsidiaries are translated into U.S. dollars at the rates of exchange at the balance sheet dates. Income and expense accounts are translated at the average exchange rates in effect during the period. Gains and losses resulting from translation adjustments are included as a component of accumulated other comprehensive income in the accompanying consolidated balance sheets. Foreign exchange transaction gains and losses that are derived from transactions denominated in a currency other than the subsidiary's functional currency are included in the determination of net income.
Advertising
Advertising—Advertising costs are expensed as incurred. Advertising costs amounted to $1.0 million, $1.4 million, and $1.0 million in 2013, 2012, and 2011, respectively, and are included in sales and marketing expenses in the accompanying Consolidated Statements of Income.
Sales Commissions
Sales Commissions —Certain sales commission paid with respect to subscription-based revenues are deferred and subsequently amortized into operating expenses ratably over the term of the related customer subscription contracts. As of December 31, 2013 and 2012, $434 thousand and $442 thousand, respectfully, of sales commissions were deferred and included in other current assets on the accompanying Consolidated Balance Sheets. During the years ended December 31, 2013 and 2012 the Company amortized $915 thousand and $1.1 million, respectively, of previously deferred sales commissions and included this expense in sales and marketing costs on the accompanying Consolidated Statements of Income.
Property and Equipment
Property and Equipment—Property and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the assets estimated useful lives. Leasehold improvements are amortized over the shorter of the expected life of the improvements or the remaining lease term. Repairs and maintenance are charged to expense as incurred and major improvements that extend the life of the asset are capitalized and depreciated over the expected remaining life of the related asset. Gains and losses resulting from sales or retirements are recorded as incurred, at which time related costs and accumulated depreciation are removed from the Company’s accounts. Fixed assets acquired in acquisitions are recorded at fair value. The estimated useful lives applied by the Company for property and equipment are as follows:
 
Life
Asset Category
(yrs)
Computer equipment
5
Furniture, fixtures and other
7
Buildings
30
Leasehold improvements
Life of the lease
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Business Combination, Segment Allocation
The following table summarizes the goodwill recorded in connection with the acquisitions that occurred during 2013 and 2012:
Company acquired
 
Date acquired
 
(in thousands)
Qatarlyst ("Qatarlyst")
 
April 2013
 
$
11,136

Total during 2013
 
 
 
$
11,136

 
 
 
 
 
Benefit Software, Inc. ("BSI")
 
March 2012
 
$
3,243

Taimma Communications, Inc. ("Taimma")
 
April 2012
 
7,557

PlanetSoft Holdings, Inc. ("PlanetSoft")
 
June 2012
 
44,116

Fintechnix Pty Limited ("Fintechnix")
 
June 2012
 
3,706

TriSystems, Ltd. ("Trisystems")
 
August 2012
 
8,754

Total during 2012
 
 
 
$
67,376

In addition, during 2012 the Company recorded a $25 thousand increase to goodwill, in connection to a 2009 acquisition, for an earn-out payment not previously recognized.
Schedule of Revenue by Product/Service Groups
Presented in the table below is the breakout of our revenue streams for each of those product/service groups for the years ended December 31, 2013 , 2012 and 2011.
 
For the Year Ended
 
December 31,
(dollar amounts in thousands)
 
2013
 
2012
 
2011
Exchanges
 
$
163,925

 
$
159,678

 
$
130,638

Broker Systems
 
18,378

 
18,612

 
18,006

Business Process Outsourcing (“BPO”)
 
15,678

 
16,140

 
14,944

Carrier Systems
 
6,729

 
4,940

 
5,381

Totals
 
$
204,710

 
$
199,370

 
$
168,969
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Additional information regarding the Company's assets and liabilities that are measured at fair value on a recurring basis is presented in the following tables:

 
 
Fair Values at Reporting Date Using*
Descriptions
 
Balance at December 31, 2013
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Significant Other Observable Inputs (Level 2)
Significant Unobservable Inputs (Level 3)
 
 
(In thousands)
Assets
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
Commercial bank certificates of deposits
 
$
801

$
801

$
—

$
—

Total assets measured at fair value
 
$
801

$
801

$
—

$
—

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Derivatives:
 
 
 
 
 
Common share-based put option (a)
 
$
845

$
—

$
845

$
—

Contingent accrued earn-out acquisition consideration (b)
 
14,420

—

—

14,420

Total liabilities measured at fair value
 
$
15,265

$
—

$
845

$
14,420

 
 
 
 
 
 
(a) In connection with the acquisition of PlanetSoft effective June 1, 2012, Ebix issued a put option to the PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share, which represents the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. In accordance with the relevant authoritative accounting literature a portion of the total purchase consideration was allocated to this put liability based on its initial fair value, which was determined to be $1.4 million using a Black-Scholes model. The inputs used in the valuation of the put option include term, stock price volatility, current stock price, exercise price, and the risk free rate of return.
(b) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2013 there were no transfers between fair value Levels 1, 2 or 3.

 
 
Fair Values at Reporting Date Using*
Descriptions
 
Balance at December 31, 2012
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Significant Other Observable Inputs (Level 2)
Significant Unobservable Inputs (Level 3)
 
 
(In thousands)
Assets
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
Commercial bank certificates of deposits ($213 thousand is recorded in the long term asset section of the consolidated balance sheets)
 
$
1,184

1,184

—

—

Total assets measured at fair value
 
$
1,184

$
1,184

$
—

$
—

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Derivatives:
 
 
 
 
 
Common share-based put option (a)
 
$
1,186

—

1,186

—

Contingent accrued earn-out acquisition consideration (b)
 
17,495

—

—

17,495

Total liabilities measured at fair value
 
$
18,681

$
—

$
1,186

$
17,495

 
 
 
 
 
 
(a) In connection with the acquisition of PlanetSoft effective June 1, 2012, Ebix issued a put option to the PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share, which represents the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. In accordance with the relevant authoritative accounting literature a portion of the total purchase consideration was allocated to this put liability based on its initial fair value, which was determined to be $1.4 million using a Black-Scholes model. The inputs used in the valuation of the put option include term, stock price volatility, current stock price, exercise price, and the risk free rate of return.
(b) The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
* During the year ended December 31, 2012 there were no transfers between fair value Levels 1, 2 or 3.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
For the Company's assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein, and gains or losses recognized during the year.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent Liability for Accrued Earn-out Acquisition Consideration
 
Balance at December 31, 2013
 
Balance at December 31, 2012
 
 
(in thousands)
 
 
 
 
 
Beginning balance
 
$
17,495

 
7,590

 
 
 
 
 
Total remeasurement adjustments:
 
 
 
 
       (Gains) or losses included in earnings **
 
(10,253
)
 
(699
)
       (Gains) or losses recorded against goodwill
 
—

 
—

       Foreign currency translation adjustments ***
 
730

 
(143
)
 
 
 
 
 
Acquisitions and settlements
 
 
 
 
       Business acquisitions
 
9,425

 
16,258

       Settlements
 
(2,977
)
 
(5,511
)
 
 
 
 
 
Ending balance
 
$
14,420

 
$
17,495

 
 
 
 
 
The amount of total (gains) or losses for the year included in earnings or changes to net assets, attributable to changes in unrealized (gains) or losses relating to assets or liabilities still held at year-end.
 
$
(9,954
)
 
$
(802
)
 
 
 
 
 
** recorded as a component of reported general and administrative expenses
 
 
*** recorded as a component of other comprehensive income within stockholders' equity
 
 
Fair Value, Significant Unobservable Inputs Used in Measurement of Contingent Consideration Liabilities
The significant unobservable inputs used in the fair value measurement of the Company's contingent consideration liabilities designated as Level 3 are as follows:
  
 
 
 
 
 
 
(in thousands)
 
Fair Value at  December 31, 2013
 
             Valuation Technique
 
Significant Unobservable
Input
Contingent acquisition consideration:
(Taimma, PlanetSoft, TriSystems, and Qatarlyst acquisitions)
 
$14,420
 
Discounted cash flow
 
Expected future annual revenue streams and probability of achievement



  
 
 
 
 
 
 
(in thousands)
 
Fair Value at  December 31, 2012
 
             Valuation Technique
 
Significant Unobservable
Input
Contingent acquisition consideration:
(USIX, HealthConnect, Taimma, PlanetSoft, and TriSystems acquisitions)
 
$17,495
 
Discounted cash flow
 
Expected future annual revenue streams and probability of achievement
Schedule of Goodwill
Changes in the carrying amount of goodwill for the years ended December 31, 2013 and 2012 are as follows:

 
December 31, 2013
 
December 31, 2012
 
(in thousands)
Beginning Balance
$
326,748

 
$
259,218

Additions, net (see Note 3)
11,136

 
67,401

Foreign currency translation adjustments
(816
)
 
129

Ending Balance
$
337,068

 
$
326,748
Schedule of Finite-Lived Intangible Assets by Major Class, Estimated Useful Lives
We amortize these intangible assets on a straight-line basis over their estimated useful lives, as follows:
 
Life
Category
(yrs)
Customer relationships
7-20

Developed technology
3-12

Trademarks
3-15

Non-compete agreements
5

Database
10
Schedule of Intangible Assets, Excluding Goodwill
Intangible assets as of December 31, 2013 and December 31, 2012, are as follows:
 
December 31,
 
2013
 
2012
 
(In thousands)
Finite-lived intangible assets:
 
 
 
Customer relationships
$
62,408

 
$
57,638

Developed technology
14,630

 
14,025

Trademarks
2,646

 
2,638

Non-compete agreements
538

 
538

Backlog
140

 
140

Database
212

 
212

Total intangibles
80,574

 
75,191

Accumulated amortization
(29,840
)
 
(22,600
)
Finite-lived intangibles, net
$
50,734

 
$
52,591

 
 
 
 
Indefinite-lived intangibles:
 
 
 
Customer/territorial relationships
$
30,887

 
$
30,887
Useful Lives of Property and Equipment Used in Computation of Depreciation
The estimated useful lives applied by the Company for property and equipment are as follows:
 
Life
Asset Category
(yrs)
Computer equipment
5
Furniture, fixtures and other
7
Buildings
30
Leasehold improvements
Life of the lease
v2.4.0.8
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted, by Common Class
The basic and diluted earnings per share (“EPS”), and the basic and diluted weighted average shares outstanding for all periods as presented in the accompanying Consolidated Statements of Income are shown below :
 
 
For the year ended
December 31,
 
 
(In thousands, except per share amounts)
Earnings per share:
 
2013
 
2012
 
2011
Basic earnings per common share
 
$
1.58

 
$
1.91

 
$
1.89

Diluted earnings per common share
 
$
1.53

 
$
1.80

 
$
1.75

Basic weighted average shares outstanding
 
37,588

 
36,948

 
37,742

Diluted weighted average shares outstanding
 
38,642

 
39,100

 
40,889
Schedule of Weighted Average Number of Shares
Diluted shares outstanding are determined as follows for each years ending December 31, 2013, 2012, and 2011:

 
 
For the year ended
December 31,
 
 
(in thousands)
 
 
2013
 
2012
 
2011
Basic weighted average shares outstanding
 
37,588

 
36,948

 
37,742

Incremental shares for common stock equivalents
 
1,054

 
2,152

 
3,147

Diluted shares outstanding
 
38,642

 
39,100

 
40,889
v2.4.0.8
Business Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Schedule of Net Assets Acquired in Business Acquisitions
The following table summarizes the fair value of the consideration transferred, net assets acquired and liabilities assumed as a result of the acquisitions that occurred during 2013 and 2012:
 
 
December 31,
(in thousands)
 
2013
 
2012
Fair value of total consideration transferred
 
 
 
 
Cash
 
$
5,025

 
$
56,112

Equity instruments
 
—

 
5,000

Contingent earn-out consideration arrangement
 
9,425

 
16,450

Secured promissory note issued
 
—

 
3,000

Total
 
$
14,450

 
$
80,562

 
 
 
 
 
Fair value of assets acquired and liabilities assumed
 
 
 
 
Cash
 
$
285

 
$
1,049

Other current assets
 
485

 
5,213

Property, plant, and equipment
 
144

 
1,328

Other long term assets
 
507

 
331

Intangible assets
 
5,396

 
20,246

Deferred tax liability
 
(947
)
 
(6,018
)
Current and other liabilities
 
(2,556
)
 
(7,586
)
Put option liability
 
—

 
(1,377
)
Net assets acquired, excludes goodwill
 
3,314

 
13,186

 
 
 
 
 
Goodwill
 
11,136

 
67,376

 
 
 
 
 
Total net assets acquired
 
$
14,450

 
$
80,562
Schedule of Identified Intangible Assets Acquired as Part of Business Acquisitions
The following table summarizes the separately identified intangible assets acquired as a result of the acquisitions that occurred during 2013 and 2012:
 
 
December 31,
 
 
2013
 
2012
 
 
 
 
Weighted
Average
 
 
 
Weighted
Average
Intangible asset category
 
Fair Value
 
Useful Life
 
Fair Value
 
Useful Life
 
 
(in thousands)
 
(in years)
 
(in thousands)
 
(in years)
Customer relationships
 
$
4,761

 
11.0
 
$
17,365

 
10.9
Developed technology
 
635

 
5.0
 
2,327

 
4.5
Non-compete agreements
 
—

 
0.0
 
118

 
5.0
Trademarks
 
—

 
0.0
 
436

 
10.0
Total acquired intangible assets
 
$
5,396

 
10.3
 
$
20,246

 
10.1
Schedule of Intangible Assets, Future Amortization Expense
Estimated aggregate future amortization expense for the intangible assets recorded as part of the business acquisitions described above and other prior acquisitions is as follows:
Estimated Amortization Expenses (in thousands):
 
For the year ending December 31, 2014
$
7,244

For the year ending December 31, 2015
6,589

For the year ending December 31, 2016
6,202

For the year ending December 31, 2017
5,791

For the year ending December 31, 2018
5,198

Thereafter
19,710

 
 

 
$
50,734

 
 
v2.4.0.8
Pro Forma Financial Information (re: 2013 and 2012 acquisitions) (Tables)
 12 Months Ended
Dec. 31, 2013
Pro Forma Financial Information [Abstract]  
Unaudited Pro Forma Financial Information
 
 
As Reported
2013
 
Pro Forma
2013
 
As Reported
2012
 
Pro Forma
2012
 
 
 
 
(unaudited)
 
 
 
(unaudited)
 
 
(In thousands, except per share amounts)
Revenue
 
$
204,710

 
$
205,619

 
$
199,370

 
$
215,004

Net Income
 
$
59,274

 
$
57,966

 
$
70,569

 
$
57,008

Basic EPS*
 
$
1.58

 
$
1.54

 
$
1.91

 
$
1.54

Diluted EPS*
 
$
1.53

 
$
1.50

 
$
1.80

 
$
1.45
v2.4.0.8
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]  
Schedule Of Future Principal Debt Payments and Minimum Lease Payments Under Non-Cancelable Operating And Capital Leases
Commitments for minimum rentals under non-cancellable leases and debt obligations as of December 31, 2013 were as follows:
Year
 
Debt
 
Capital Leases
 
Operating Leases
 
 
(in thousands)
2014
 
$
13,711

 
$
195

 
$
5,088

2015
 
11,643

 
44

 
3,287

2016
 
31,315

 
—

 
2,034

2017
 
—

 
—

 
1,965

2018
 
—

 
—

 
1,582

Thereafter
 
—

 
—

 
550

Total
 
$
56,669

 
$
239

 
$
14,506

Less: sublease income
 
 
 
 
 
(5
)
Net lease payments
 
 
 
 
 
$
14,501

Less: amount representing interest
 
 
 
(7
)
 
 
Present value of obligations under capital leases
 
 
 
$
232

 
 
Less: current portion
 
(13,711
)
 
(188
)
 
 
Long-term obligations
 
$
42,958

 
$
44

 
 
v2.4.0.8
Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Valuation Assumptions
The following table includes the weighted- average assumptions used in estimating the fair values and the resulting weighted-average fair value of stock options granted in the periods presented:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
Weighted average fair values of stock options granted
$
5.70

 
$
5.47

 
$
8.32

Expected volatility
59.9
%
 
47.9
%
 
59.0
%
Expected dividends
2.01
%
 
1.18
%
 
.74
%
Weighted average risk-free interest rate
.65
%
 
.33
%
 
.33
%
Expected life of stock options (in years)
3.5

 
3.5

 
3.5
Schedule of Stock Options Activity
A summary of stock option activity for the years ended December 31, 2013, 2012 and 2011 is as follows:
 
Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate Intrinsic
Value
 
 
 
 
 
 
 
(in thousands)
Outstanding at January 1, 2011
3,340,476

 
$
2.22

 
2.51
 
$
71,638

Granted
45,000

 
$
20.58

 
 
 
 
Exercised
(69,509
)
 
$
0.73

 
 
 
 
Canceled
(792
)
 
$
0.72

 
 
 
 
Outstanding at December 31, 2011
3,315,175

 
$
2.51

 
1.56
 
$
64,959

Granted
45,000

 
$
16.94

 
 
 
 
Exercised
(1,361,542
)
 
$
0.75

 
 
 
 
Canceled
—

 
$
—

 
 
 
 
Outstanding at December 31, 2012
1,998,633

 
$
4.03

 
1.17
 
$
24,171

Granted
45,000

 
$
14.89

 
 
 
 
Exercised
(1,251,633
)
 
$
1.73

 
 
 
 
Canceled
—

 
$
—

 
 
 
 
Outstanding at December 31, 2013
792,000

 
$
8.28

 
1.00
 
$
5,093

Exercisable at December 31, 2013
679,500

 
$
6.78

 
0.65
 
$
5,387
Schedule of Nonvested Share Activity
A summary of non-vested options and changes for the years ended December 31, 2013, 2012 and 2011 is as follows:

 
Non-Vested Number of Shares
 
Weighted
Average
Exercise Price
 
 
 
 
Non-vested balance at January 1, 2011
247,690

 
$
14.07

Granted
45,000

 
$
20.58

Vested
(112,685
)
 
$
11.71

Canceled
—

 
$
—

Non-vested balance at December 31, 2011
180,005

 
$
17.17

Granted
45,000

 
$
16.94

Vested
(90,005
)
 
$
14.60

Canceled
—

 
$
—

Non-vested balance at December 31, 2012
135,000

 
$
18.80

Granted
45,000

 
$
14.89

Vested
(67,500
)
 
$
18.66

Canceled
—

 
$
—

Non-vested balance at December 31, 2013
112,500

 
$
17.32
Schedule of Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table summarizes information about stock options outstanding by price range as of December 31, 2013:
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number Outstanding
 
Weighted-Average Remaining Contractual Life (Years)
 
Weighted-Average Exercise Price
 
Number of Shares
 
Weighted-Average Exercise Price
$1.75-$2.36
 
477,000

 
0.37
 
$
1.78

 
477,000

 
$
1.78

$14.89-$17.58
 
225,000

 
1.95
 
$
16.91

 
146,250

 
$
17.53

$20.58-$21.70
 
90,000

 
1.93
 
$
21.14

 
56,250

 
$
21.25

 
 
792,000

 
1.00
 
$
8.28

 
679,500

 
$
6.78
Schedule of Nonvested Restricted Stock Activity
A summary of the status of the Company’s non-vested restricted stock grant shares is presented in the following table:

 
Shares
 
Weighted-Average Grant Date
Fair Value
Non vested at January 1, 2011
210,285

 
$
9.98

Granted
103,469

 
$
23.33

Vested
(150,267
)
 
$
9.51

Forfeited
(18,406
)
 
$
8.79

Non vested at December 31, 2011
145,081

 
$
20.13

Granted
73,061

 
$
23.26

Vested
(90,379
)
 
$
18.89

Forfeited
(6,607
)
 
$
24.10

Non vested at December 31, 2012
121,156

 
$
22.74

Granted
32,842

 
$
15.91

Vested
(76,576
)
 
$
22.56

Forfeited
(2,157
)
 
$
23.42

Non vested at December 31, 2013
75,265

 
$
12.97
v2.4.0.8
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
Income before income taxes consisted of:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
(In thousands)
Domestic
$
5,497

 
$
6,604

 
$
12,043

Foreign
64,655

 
71,425

 
61,452

Total
$
70,152

 
$
78,029

 
$
73,495
Schedule of Components of Income Tax Expense (Benefit)
The income tax provision consisted of:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
(In thousands)
Current:
 
 
 
 
 
Federal
$
266

 
$
342

 
$
1,237

State
167

 
320

 
822

Foreign
5,371

 
4,497

 
2,990

 
$
5,804

 
$
5,159

 
$
5,049

Deferred:
 
 
 
 
 
Federal
6,185

 
3,827

 
3,699

State
(351
)
 
31

 
44

Foreign
(760
)
 
(1,557
)
 
(1,755
)
 
5,074

 
2,301

 
1,988

 
 
 
 
 
 
Provision for income taxes from ongoing operations at effective tax rate
$
10,878

 
$
7,460

 
$
7,037

Discrete Items:
 
 
 
 
 
Release of valuation allowance
—

 
—

 
(6,625
)
Windfall expense related to stock compensation
—

 
—

 
1,938

Enhanced R&D deduction - foreign operations
—

 
—

 
(233
)
Provision for income taxes from discrete items
—

 
—

 
(4,920
)
 
 
 
 
 
 
Total provision for income taxes
$
10,878

 
$
7,460

 
$
2,117
Schedule of Effective Income Tax Rate Reconciliation
The income tax provision at the Federal statutory rate differs from the effective rate because of the following items:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
Statutory tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
Tax impact of foreign subsidiaries (primarily in Singapore)
(6.9
)%
 
(8.1
)%
 
(5.6
)%
State income taxes, net of federal benefit
(0.3
)%
 
0.4
 %
 
0.8
 %
Uncertain tax matters
9.7
 %
 
3.5
 %
 
0.2
 %
Tax holiday - India (Permanent Difference)
(15.2
)%
 
(15.6
)%
 
(15.1
)%
Passive income exemption - Sweden (Permanent Difference)
(3.5
)%
 
(3.1
)%
 
(3.0
)%
Acquisition contingent earnout liability adjustments
(5.0
)%
 
(0.4
)%
 
(1.0
)%
Other
1.7
 %
 
(2.1
)%
 
(1.8
)%
Effective tax rate from ongoing operations
15.5
 %
 
9.6
 %
 
9.5
 %
Discrete Items:
 

 
 

 
 

Release of valuation allowance
—
 %
 
—
 %
 
(9.0
)%
Windfall expense related to stock compensation
—
 %
 
—
 %
 
2.6
 %
Enhanced R&D deduction - foreign operations
—
 %
 
—
 %
 
(0.2
)%
Effective tax rate after discrete items
15.5
 %
 
9.6
 %
 
2.9
 %
Schedule of Deferred Tax Assets and Liabilities
The individual balances in current and long-term deferred tax assets and liabilities are as follows:

 
2013
 
2012
 
(In thousands)
Current deferred income tax assets
$
961

 
$
2,074

Long-term deferred income tax assets
44,924

 
35,140

Total deferred income tax assets
45,885

 
37,214

Current deferred income tax liabilities
(705
)
 
(239
)
Long-term deferred income tax liabilities
(24,308
)
 
(23,895
)
Net deferred income tax asset
$
20,872

 
$
13,080
Deferred Income Tax, Temporary Differences Between Amounts of Assets and Liabilities
Temporary differences and carry forwards which comprise the deferred tax assets and liabilities as of December 31, 2013 and 2012 were as follows:
 
December 31, 2013
 
December 31, 2012
 
Deferred
 
Deferred
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
(In thousands)
Depreciation and amortization
$
580

 
$
—

 
$
102

 
$
—

Share-based compensation
781

 
—

 
721

 
—

Accruals and prepaids
3,415

 
788

 
1,627

 
239

Bad debts
394

 
—

 
446

 
—

Acquired intangible assets
—

 
24,225

 
—

 
23,895

Net operating loss carryforwards
19,698

 
—

 
20,573

 
—

Tax credit carryforwards
21,017

 
—

 
13,745

 
—

 
45,885

 
25,013

 
37,214

 
24,134

Valuation allowance
—

 
—

 
—

 
—

Total deferred taxes
$
45,885

 
$
25,013

 
$
37,214

 
$
24,134
Schedule of Income Before Income Tax and Applicable Tax Rates, Domestic and Foreign
The pre-tax income from the applicable statutory tax rates in each jurisdiction in which the Company had operations for the year ending December 31, 2013 were as follows:


(dollar amounts in thousands)
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe(United Kingdom)
 
Sweden
 
Total
Pre-tax income
$
5,497

 
$
1,344

 
$
966

 
$
4,579

 
$
17,523

 
$
485

 
$
31,387

 
$
1,360

 
$
7,011

 
$
70,152

Statutory tax rate
35.0
%
 
30.5
%
 
34.0
%
 
30.0
%
 
10.0
%
 
28.0
%
 
—
%
 
24.0
%
 
—
%
 
 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

 
December 31, 2013
 
December 31, 2012
 
December 31, 2011
 
(in thousands)
Beginning Balance
$
5,925

 
$
3,180

 
$
2,980

Additions for tax positions related to current year
6,546

 
2,482

 
1,949

Additions for tax positions of prior years
271

 
263

 
307

Reductions for tax position of prior years
—

 
—

 
(2,056
)
Ending Balance
$
12,742

 
$
5,925

 
$
3,180
v2.4.0.8
Accounts Payable and Accrued Expenses (Tables)
 12 Months Ended
Dec. 31, 2013
Accounts Payable and Accrued Liabilities, Current [Abstract]  
Schedule of Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses at December 31, 2013 and December 31, 2012, consisted of the following:
 
2013
 
2012
 
(In thousands)
Trade accounts payable
$
4,515

 
$
5,607

Accrued professional fees
1,046

 
295

Income taxes payable
8,173

 
6,913

Sales taxes payable
4,038

 
2,651

Other accrued liabilities
46

 
31

Total
$
17,818

 
$
15,497
v2.4.0.8
Other Current Assets (Tables)
 12 Months Ended
Dec. 31, 2013
Prepaid Expense and Other Assets, Current [Abstract]  
Schedule of Other Current Assets
Other current assets at December 31, 2013 and December 31, 2012 consisted of the following:
 
2013
 
2012
 
(In thousands)
Prepaid expenses
$
3,824

 
$
3,189

Sales taxes receivable from customers
220

 
598

Due from prior owners of acquired businesses for working capital settlements
720

 
955

Research and development tax credits receivable
720

 
266

Other
64

 
108

Total
$
5,548

 
$
5,116
v2.4.0.8
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and equipment at December 31, 2013 and 2012 consisted of the following:
 
2013
 
2012
 
(In thousands)
Computer equipment
$
12,417

 
$
11,729

Buildings
3,119

 
3,103

Land
59

 
66

Leasehold improvements
2,648

 
2,632

Furniture, fixtures and other
5,035

 
4,888

 
23,278

 
22,418

Less accumulated depreciation and amortization
(14,750
)
 
(12,336
)
 
$
8,528

 
$
10,082
v2.4.0.8
Other Liabilities (Tables)
 12 Months Ended
Dec. 31, 2013
Other Liabilities Disclosure [Abstract]  
Other Liabilities
Other liabilities at December 31, 2013 and December 31, 2012 consisted of the following:

 
2013
 
2012
 
(In thousands)
Reserve for potential uncertain income tax return positions
$
12,742

 
$
5,925

Unfavorable lease liability, long term portion
394

 
499

Other
5

 
5

Total
$
13,141

 
$
6,429
v2.4.0.8
Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Financial Information by Geographic Locations
The Company operates with one reportable segment whose results are regularly reviewed by the Company's chief operating decision maker as to performance and allocation of resources. External customer revenues in the tables below were attributed to a particular country based on whether the customer had a direct contract with the Company which was executed in that particular country for the sale of the Company's products/services with an Ebix subsidiary located in that country.
The following enterprise wide information relates to the Company's geographic locations (all amounts in thousands):

Year Ended December 31, 2013

 
 
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe
 
Total
External Revenues
 
$
139,519

 
$
7,431

 
$
5,508

 
$
38,260

 
$
3,114

 
$
2,311

 
$
650

 
$
7,917

 
$
204,710

Long-lived assets
 
$
309,732

 
$
8,784

 
$
10,886

 
$
803

 
$
68,987

 
$
97

 
$
23,784

 
$
28,442

 
$
451,515


Year Ended December 31, 2012

 
 
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe
 
Total
External Revenues
 
$
140,933

 
$
6,395

 
$
8,227

 
$
36,330

 
$
2,827

 
$
2,205

 
$
233

 
$
2,220

 
$
199,370

Long-lived assets
 
$
317,338

 
$
9,738

 
$
12,726

 
$
1,267

 
$
70,173

 
$
240

 
$
11,784

 
$
12,011

 
$
435,277


Year Ended December 31, 2011

 
 
United States
 
Canada
 
Latin America
 
Australia
 
Singapore
 
New Zealand
 
India
 
Europe
 
Total
External Revenues
 
$
120,780

 
$
836

 
$
10,504

 
$
31,991

 
$
2,943

 
$
1,915

 
$
—

 
$
—

 
$
168,969

Long-lived assets
 
$
259,425

 
$
—

 
$
14,179

 
$
1,286

 
$
63,866

 
$
233

 
$
8,376

 
$
—

 
$
347,365
v2.4.0.8
Quarterly Financial Information (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The following is the unaudited quarterly financial information for 2013, 2012 and 2011:
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
 
(in thousands, except share data)
Year Ended December 31, 2013
 
 
 
 
 
 
 
 
Total revenues
 
$
52,566

 
$
51,004

 
$
50,293

 
$
50,847

Gross Profit
 
42,675

 
40,646

 
40,157

 
40,761

Operating income
 
19,305

 
19,294

 
18,601

 
17,806

Net income
 
17,344

 
13,542

 
13,143

 
15,245

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.47

 
$
0.36

 
$
0.35

 
$
0.40

Diluted
 
$
0.45

 
$
0.35

 
$
0.34

 
$
0.40

Year Ended December 31, 2012
 
 
 
 
 
 
 
 
Total revenues
 
$
43,827

 
$
47,716

 
$
53,804

 
$
54,023

Gross Profit
 
34,798

 
38,559

 
44,304

 
43,576

Operating income
 
18,329

 
17,711

 
20,708

 
20,260

Net income
 
15,685

 
18,067

 
18,072

 
18,745

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.43

 
$
0.49

 
$
0.49

 
$
0.50

Diluted
 
$
0.40

 
$
0.47

 
$
0.46

 
$
0.48

Year Ended December 31, 2011
 
 
 
 
 
 
 
 
Total revenues
 
$
40,050

 
$
42,267

 
$
42,602

 
$
44,050

Gross Profit
 
32,743

 
33,353

 
33,895

 
35,389

Operating income
 
15,634

 
18,605

 
17,954

 
16,556

Net income
 
15,164

 
22,348

 
16,536

 
17,330

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.40

 
$
0.57

 
$
0.44

 
$
0.48

Diluted
 
$
0.37

 
$
0.53

 
$
0.41

 
$
0.44


In some instances the sum of the quarterly basic and diluted net income per share amounts may not agree to the full year basic and diluted net income per share amounts reported on the Consolidated Statements of Income because of rounding.
v2.4.0.8
Supplemental Schedule of Noncash Financing Activities (Details) (USD $)
 12 Months Ended 0 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Jun. 02, 2012
Planetsoft [Member]
Feb. 07, 2011
ADAM [Member]
Other Significant Noncash Transactions [Line Items]          
Business acquisition, number of common shares issued       296,560 3,650,000.00
Purchase Price of Business Acquisition, Cost of Acquired Entity       $ 40,000,000 $ 88,400,000
Fair value of equity issued in business acquisition       5,000,000 87,500,000
Repayments of convertible debt $ 0 $ 0 $ 6,761,000    
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Segment Reporting) (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
ProductService_Groups
Dec. 31, 2012
Dec. 31, 2011
Segment Reporting Information [Line Items]                              
Total revenue, international percentage                         31.80% 29.30% 28.50%
Number of product/service groups                         4    
Operating revenue $ 50,847 $ 50,293 $ 51,004 $ 52,566 $ 54,023 $ 53,804 $ 47,716 $ 43,827 $ 44,050 $ 42,602 $ 42,267 $ 40,050 $ 204,710 $ 199,370 $ 168,969
Exchanges [Member]
                              
Segment Reporting Information [Line Items]                              
Operating revenue                         163,925 159,678 130,638
Broker Systems [Member]
                              
Segment Reporting Information [Line Items]                              
Operating revenue                         18,378 18,612 18,006
BPO [Member]
                              
Segment Reporting Information [Line Items]                              
Operating revenue                         15,678 16,140 14,944
Carrier Systems [Member]
                              
Segment Reporting Information [Line Items]                              
Operating revenue                         $ 6,729 $ 4,940 $ 5,381
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Short-term Investments) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]    
Short-term investments $ 801 $ 971
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Fair Value Reporting) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended 0 Months Ended 1 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Put Option [Member]
Dec. 31, 2012
Put Option [Member]
Dec. 31, 2013
Contingent Accrued Earn-out Acquisition Consideration [Member]
Dec. 31, 2012
Contingent Accrued Earn-out Acquisition Consideration [Member]
Dec. 31, 2013
Certificates of Deposit [Member]
Dec. 31, 2012
Certificates of Deposit [Member]
Dec. 31, 2012
Certificates of Deposit [Member]
Other Assets [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 1 [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 1 [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 1 [Member]
Certificates of Deposit [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 1 [Member]
Certificates of Deposit [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 2 [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 2 [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 2 [Member]
Put Option [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 2 [Member]
Put Option [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 3 [Member]
Contingent Accrued Earn-out Acquisition Consideration [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
Contingent Accrued Earn-out Acquisition Consideration [Member]
Jun. 02, 2012
Planetsoft [Member]
Stockholders
Jun. 30, 2012
Planetsoft [Member]
May 31, 2012
Planetsoft [Member]
Stockholders
Jun. 02, 2012
Planetsoft [Member]
Contingent Accrued Earn-out Acquisition Consideration [Member]
Jun. 02, 2012
Fair Value, Measurements, Recurring [Member]
Planetsoft [Member]
Fair Value, Inputs, Level 2 [Member]
May 31, 2012
Fair Value, Measurements, Recurring [Member]
Planetsoft [Member]
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]                                                      
Deposits, Fair Value Disclosure                 $ 213                                    
Available-for-sale securities             801 [1] 1,184 [1]       801 [1] 1,184 [1]                            
Total assets measured at fair value 801 [1] 1,184 [1]               801 [1] 1,184 [1]                                
Derivative liabilities     845 [1],[2] 1,186 [1],[2] 14,420 [1],[3] 17,495 [1],[3]                   845 [1],[2] 1,186 [1],[2]     14,420 [1],[3] 17,495 [1],[3]            
Total liabilities measured at fair value 15,265 [1] 18,681 [1]                       845 [1] 1,186 [1]     14,420 [1] 17,495 [1]                
Long-term Investments   213                                                  
Number of shareholders                                           3   3      
Put option, exercise period                                             30 days        
Put option, vesting period required prior to exercise                                             2 years        
Business acquisition, number of common shares issued                                           296,560          
Business acquisition, price per share                                           $ 16.86          
Put option, price to repurchase shares, discount                                             10.00%        
Put option liability 0 1,186                                               1,400 1,400
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation:                                                      
Beginning balance 17,495 7,590     14,420 17,495                                     992    
(Gains) or losses included in earnings (10,253) [4] (699) [4]                                                  
Foreign currency translation adjustments 730 [5] (143) [5]                                                  
Business acquisitions 9,425 16,258                                                  
Settlements (2,977) (5,511)                                                  
Ending balance 14,420 17,495     14,420 17,495                                     992    
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, gain (loss) included in earnings, unrealized still held at year end $ (9,954) $ (802)                                                  
Fair value inputs, discount rate 1.75%                                                    
[1] During the year ended December 31, 2013 and 2012, respectively, there were no transfers between fair value levels 1, 2, or 3.
[2] In connection with the acquisition of PlanetSoft effective June 1, 2012, Ebix issued a put option to the PlanetSoft's three shareholders. The put option, which expires in June 2014, is exercisable during the thirty-day period immediately following the two-year anniversary date of the business acquisition, which if exercised would enable them to sell the underlying 296,560 shares of Ebix common stock they received as part of the purchase consideration, back to the Company at a price of $16.86 per share, which represents a 10% discount off of the per-share value established on the effective date of the closing of Ebix's acquisition of PlanetSoft. In accordance with the relevant authoritative accounting literature a portion of the total purchase consideration was allocated to this put liability based on its initial fair value, which was determined to be $1.4 million using the Black-Scholes model. The inputs used in the valuation of the put option include term, stock price volatility, current stock price, exercise price, and the risk free rate of return.
[3] The income valuation approach is applied and the valuation inputs include the contingent payment arrangement terms, projected cash flows, rate of return, and probability assessments.
[4] Recorded as an adjustment to reported general and administrative expenses
[5] Recorded as a component of other comprehensive income within stockholders' equity
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Accounts Receivables and Allowances) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts Receivable, Net, Current $ 39,070,000 $ 37,298,000  
Allowance for doubtful accounts 1,049,000 1,157,000  
Deferred revenue included in accounts receivables 6,700,000 7,000,000  
Bad debt expense 1,147,000 442,000 976,000
Billed Revenues [Member]
      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts Receivable, Net, Current 31,200,000 28,500,000  
Unbilled Revenues [Member]
      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Accounts Receivable, Net, Current $ 7,900,000 $ 8,800,000  
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Goodwill) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Qatarlyst [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Dec. 31, 2013
Final Allocation [Member]
Qatarlyst [Member]
Apr. 07, 2013
Final Allocation [Member]
Qatarlyst [Member]
Mar. 31, 2012
Final Allocation [Member]
BSI [Member]
Apr. 02, 2012
Final Allocation [Member]
Taimma [Member]
Jun. 02, 2012
Final Allocation [Member]
Planetsoft [Member]
Jun. 03, 2012
Final Allocation [Member]
Fintechnix [Member]
Aug. 01, 2012
Final Allocation [Member]
TriSystems [Member]
Dec. 31, 2012
Final Allocation [Member]
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Goodwill [Line Items]                        
Business acquisition, purchase price allocation, goodwill $ 337,068 $ 326,748     $ 11,136 $ 11,136 $ 3,243 $ 7,557 $ 44,116 $ 3,706 $ 8,754 $ 67,376
Goodwill [Roll Forward]                        
Goodwill, beginning balance 326,748 259,218     11,136 11,136 3,243 7,557 44,116 3,706 8,754 67,376
Additions, net 11,136 67,401 11,136 67,376                
Foreign currency translation adjustments (816) 129                    
Goodwill, ending balance $ 337,068 $ 326,748     $ 11,136 $ 11,136 $ 3,243 $ 7,557 $ 44,116 $ 3,706 $ 8,754 $ 67,376
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Intangible Assets) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Customer Relationships [Member]
Dec. 31, 2012
Customer Relationships [Member]
Dec. 31, 2013
Customer Relationships [Member]
Minimum [Member]
Dec. 31, 2013
Customer Relationships [Member]
Maximum [Member]
Dec. 31, 2013
Developed Technology [Member]
Dec. 31, 2012
Developed Technology [Member]
Dec. 31, 2013
Developed Technology [Member]
Minimum [Member]
Dec. 31, 2013
Developed Technology [Member]
Maximum [Member]
Dec. 31, 2013
Trademarks [Member]
Dec. 31, 2012
Trademarks [Member]
Dec. 31, 2013
Trademarks [Member]
Minimum [Member]
Dec. 31, 2013
Trademarks [Member]
Maximum [Member]
Dec. 31, 2013
Noncompete Agreements [Member]
Dec. 31, 2012
Noncompete Agreements [Member]
Dec. 31, 2013
Noncompete Agreements [Member]
Maximum [Member]
Dec. 31, 2013
Backlog [Member]
Dec. 31, 2012
Backlog [Member]
Dec. 31, 2013
Database [Member]
Dec. 31, 2012
Database [Member]
Dec. 31, 2013
Database [Member]
Maximum [Member]
Dec. 31, 2013
Customer/Territorial Relationships [Member]
Dec. 31, 2012
Customer/Territorial Relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line items]                                                
Finite-Lived Intangible Assets, Gross $ 80,574 $ 75,191 $ 62,408 $ 57,638     $ 14,630 $ 14,025     $ 2,646 $ 2,638     $ 538 $ 538   $ 140 $ 140 $ 212 $ 212      
Finite-lived intangible assets, accumulated amortization (29,840) (22,600)                                            
Finite-lived intangible assets, net 50,734 52,591                                            
Indefinite-lived intangible assets                                             $ 30,887 $ 30,887
Finite-lived intangible asset, useful life         7 years 20 years     3 years 12 years     3 years 15 years     5 years         10 years    
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Advertising and Sales Commission) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Accounting Policies [Abstract]      
Advertising Expense $ 1,000,000 $ 1,400,000 $ 1,000,000
Deferred Sales Commission 434,000 442,000  
Amortization of Deferred Sales Commissions $ 915,000 $ 1,100,000  
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies (Fixed Assets) (Details) (Details)
 12 Months Ended
Dec. 31, 2013
Computer Equipment [Member]
  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 5 years
Furniture, Fixtures and Other [Member]
  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 7 years
Buildings [Member]
  
Property, Plant and Equipment [Line Items]  
Property and equipment, estimated useful life 30 years
v2.4.0.8
Description of Business and Summary of Significant Accounting Policies- Foreign Currency Translation (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended 6 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
India and Singapore [Member]
Change in Accounting Policy, Effect of Change on Net Income       $ 49
Foreign exchange gain (loss) $ (262) $ 1,931 $ 4,302 $ (151)
v2.4.0.8
Earnings per Share (Details) (USD $)
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]                              
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount                         315,000 90,000 90,000
Earnings Per Share, Basic and Diluted [Abstract]                              
Basic earnings per common share (in dollars per share) $ 0.40 $ 0.35 $ 0.36 $ 0.47 $ 0.50 $ 0.49 $ 0.49 $ 0.43 $ 0.48 $ 0.44 $ 0.57 $ 0.40 $ 1.58 $ 1.91 $ 1.89
Diluted earnings per common share (in dollars per share) $ 0.40 $ 0.34 $ 0.35 $ 0.45 $ 0.48 $ 0.46 $ 0.47 $ 0.40 $ 0.44 $ 0.41 $ 0.53 $ 0.37 $ 1.53 $ 1.80 $ 1.75
Basic weighted average shares outstanding (in shares)                         37,588,000 36,948,000 37,742,000
Diluted weighted average shares outstanding (in shares)                         38,642,000 39,100,000 40,889,000
Weighted Average Number of Shares Outstanding, Diluted [Abstract]                              
Basic weighted average shares outstanding (in shares)                         37,588,000 36,948,000 37,742,000
Incremental shares for common stock equivalents (in shares)                         1,054,000 2,152,000 3,147,000
Diluted shares outstanding (in shares)                         38,642,000 39,100,000 40,889,000
v2.4.0.8
Business Acquisitions (Narrative) (Details) (USD $)
 12 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 1 Months Ended 7 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Qatarlyst [Member]
Companies
Apr. 07, 2013
Qatarlyst [Member]
Customer Relationships [Member]
Apr. 07, 2013
Qatarlyst [Member]
Technology [Member]
Dec. 31, 2013
Qatarlyst [Member]
Final Allocation [Member]
Apr. 07, 2013
Qatarlyst [Member]
Final Allocation [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Companies
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Final Allocation [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, TRISYSTEMS [Member]
Customer Relationships [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, TRISYSTEMS [Member]
Technology [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, TRISYSTEMS [Member]
Trade Names [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, TRISYSTEMS [Member]
Noncompete Agreements [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, TRISYSTEMS [Member]
Final Allocation [Member]
Jun. 02, 2012
Planetsoft [Member]
Jun. 30, 2012
Planetsoft [Member]
Dec. 31, 2012
Planetsoft [Member]
Dec. 31, 2013
Planetsoft [Member]
Jun. 02, 2012
Planetsoft [Member]
Customer Relationships [Member]
Jun. 02, 2012
Planetsoft [Member]
Technology [Member]
Jun. 02, 2012
Planetsoft [Member]
Final Allocation [Member]
Feb. 07, 2011
ADAM [Member]
Dec. 31, 2012
Facts [Member]
Jun. 02, 2012
Fair Value, Inputs, Level 2 [Member]
Fair Value, Measurements, Recurring [Member]
Planetsoft [Member]
May 31, 2012
Fair Value, Inputs, Level 2 [Member]
Fair Value, Measurements, Recurring [Member]
Planetsoft [Member]
Dec. 31, 2013
Contingent Accrued Earn-out Acquisition Consideration [Member]
Dec. 31, 2012
Contingent Accrued Earn-out Acquisition Consideration [Member]
Jun. 02, 2012
Contingent Accrued Earn-out Acquisition Consideration [Member]
Planetsoft [Member]
Business Acquisition [Line Items]                                                          
Derivative Financial Instruments, Liabilities, Fair Value Disclosure $ 14,420,000 $ 17,495,000 $ 7,590,000                                               $ 14,420,000 $ 17,495,000 $ 992,000
Contingent liability for accrued earn-out acquisition consideration                                                     10,283,000 14,230,000  
Contingent liability for accrued earn-out acquisition consideration                                                     4,137,000 3,265,000  
Business acquisition, termination fee received for failed acquisition 971,000                                                        
Number of Businesses Acquired       1         5                                        
Business acquisition, cost of acquired entity, cash paid       5,025,000         56,112,000             35,000,000                          
Business acquisition, number of common shares issued                               296,560             3,650,000.00            
Business acquisition, price per share                               $ 16.86                          
Equity instruments   0   0         5,000,000             5,000,000.0                          
Put option, exercise period                                 30 days                        
Put option, vesting period required prior to exercise                                 2 years                        
Put option, price to repurchase shares                               $ 16.86                          
Put option, price to repurchase shares, discount                                 10.00%                        
Put option liability 0 1,186,000                                             1,400,000 1,400,000      
Business acquisition, purchase price allocation, goodwill 337,068,000 326,748,000 259,218,000       11,136,000 11,136,000   67,376,000         23,300,000             44,116,000              
Intangible Assets, Net (Excluding Goodwill)         4,761,000 635,000         7,600,000 1,800,000 436,000 118,000           9,800,000 540,000                
Fair value of equity issued in business acquisition                               5,000,000             87,500,000            
Business acquisition, acquiree revenue since acquisition date                                   11,400,000 17,200,000                    
Goodwill 337,068,000 326,748,000 259,218,000       11,136,000 11,136,000   67,376,000         23,300,000             44,116,000              
Payments for Previous Acquisition                                               $ 25,000          
v2.4.0.8
Business Acquisitions (Net Assets Acquired) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Business Acquisition [Line Items]    
Equity instruments   $ 0
Goodwill 11,136,000 67,401,000
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
    
Business Acquisition [Line Items]    
Cash   56,112,000
Equity instruments   5,000,000
Contingent earn-out consideration arrangement   16,450,000
Secured promissory note issued   3,000,000
Total   80,562,000
Cash   1,049,000
Current assets   5,213,000
Property and equipment   1,328,000
Other assets   331,000
Intangible assets   20,246,000
Deferred tax liability   (6,018,000)
Current and other liabilities   (7,586,000)
Put option liability   (1,377,000)
Net assets acquired   13,186,000
Goodwill   67,376,000
Total net assets acquired   80,562,000
Qatarlyst [Member]
    
Business Acquisition [Line Items]    
Cash 5,025,000  
Equity instruments 0  
Contingent earn-out consideration arrangement 9,425,000  
Secured promissory note issued 0  
Total 14,450,000  
Cash 285,000  
Current assets 485,000  
Property and equipment 144,000  
Other assets 507,000  
Intangible assets 5,396,000  
Deferred tax liability (947,000)  
Current and other liabilities (2,556,000)  
Put option liability 0  
Net assets acquired 3,314,000  
Goodwill 11,136,000  
Total net assets acquired $ 14,450,000  
v2.4.0.8
Business Acquisitions (Intangible Assets Acquired) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Customer Relationships [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Developed Technology [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Noncompete Agreements [Member]
Dec. 31, 2012
BSI, TAIMMA, FINTECHNIX, PLANETSOFT, TRISYSTEMS [Member]
Trademarks [Member]
Dec. 31, 2013
Qatarlyst [Member]
Dec. 31, 2013
Qatarlyst [Member]
Customer Relationships [Member]
Dec. 31, 2013
Qatarlyst [Member]
Developed Technology [Member]
Dec. 31, 2013
Qatarlyst [Member]
Noncompete Agreements [Member]
Dec. 31, 2013
Qatarlyst [Member]
Trademarks [Member]
Acquired Finite-Lived Intangible Assets [Line Items]                    
Total acquired intangible assets, Fair Value $ 20,246 $ 17,365 $ 2,327 $ 118 $ 436 $ 5,396 $ 4,761 $ 635 $ 0 $ 0
Acquired intangible assets, Weighted Average Useful Life (in years) 10 years 1 month 10 years 11 months 4 years 6 months 5 years 10 years 10 years 3 months 11 years 0 months 5 years 0 months 0 years 0 years
v2.4.0.8
Business Acquisitions (Future Amortization Expense) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Acquired Intangible Assets, Amortization Expense, Fiscal Year Maturity [Abstract]      
For the year ending December 31, 2014 $ 7,244,000    
For the year ending December 31, 2015 6,589,000    
For the year ending December 31, 2016 6,202,000    
For the year ending December 31, 2017 5,791,000    
For the year ending December 31, 2018 5,198,000    
Thereafter 19,710,000    
Estimated future amortization expense 50,734,000 52,591,000  
Amortization expense, acquired intangible assets $ 7,300,000 $ 6,100,000 $ 4,800,000
v2.4.0.8
Pro Forma Financial Information (re: 2013 and 2012 acquisitions) (Details) (USD $)
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Business Acquisition, Pro Forma Information [Abstract]                              
Revenue, As Reported $ 50,847,000 $ 50,293,000 $ 51,004,000 $ 52,566,000 $ 54,023,000 $ 53,804,000 $ 47,716,000 $ 43,827,000 $ 44,050,000 $ 42,602,000 $ 42,267,000 $ 40,050,000 $ 204,710,000 $ 199,370,000 $ 168,969,000
Net Income, As Reported 15,245,000 13,143,000 13,542,000 17,344,000 18,745,000 18,072,000 18,067,000 15,685,000 17,330,000 16,536,000 22,348,000 15,164,000 59,274,000 70,569,000 71,378,000
Basic EPS, As Reported (in dollars per share) $ 0.40 $ 0.35 $ 0.36 $ 0.47 $ 0.50 $ 0.49 $ 0.49 $ 0.43 $ 0.48 $ 0.44 $ 0.57 $ 0.40 $ 1.58 $ 1.91 $ 1.89
Diluted EPS, As Reported (in dollars per share) $ 0.40 $ 0.34 $ 0.35 $ 0.45 $ 0.48 $ 0.46 $ 0.47 $ 0.40 $ 0.44 $ 0.41 $ 0.53 $ 0.37 $ 1.53 $ 1.80 $ 1.75
Effect of Exchange Rate on Revenue                         (3,800,000) (1,200,000) 4,200,000
Parent, Planetsoft, BSI, Taimma, Fintechnix, TriSystems , Qatarlyst Combined [Member]
                              
Business Acquisition, Pro Forma Information [Abstract]                              
Increase (decrease) in unaudited pro forma revenue                         (9,400,000)    
Parent, Qatarlyst [Member]
                              
Business Acquisition, Pro Forma Information [Abstract]                              
Revenue, Pro forma                         205,619,000    
Net Income, Pro Forma                         57,966,000    
Basic EPS, Pro Forma (in dollars per share)                         $ 1.54    
Diluted EPS, Pro Forma (in dollars per share)                         $ 1.50    
Parent, ADAM, Planetsoft, BSI, Taimma, Fintechnix, TriSystems , Combined [Member] [Domain]
                              
Business Acquisition, Pro Forma Information [Abstract]                              
Revenue, Pro forma                           215,004,000  
Net Income, Pro Forma                           57,008,000  
Basic EPS, Pro Forma (in dollars per share)                           $ 1.54  
Diluted EPS, Pro Forma (in dollars per share)                           $ 1.45  
Increase (decrease) in unaudited pro forma revenue, percentage                         (4.40%)    
Increase (decrease) in reported revenue                         $ 5,300,000    
Increase (decrease) in reported revenue, percentage                         2.70%    
v2.4.0.8
Commercial Bank Financing Facility (Details) (USD $)
 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Apr. 26, 2012
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Dec. 31, 2013
Secured Syndicated Credit Facility [Member]
Revolving Credit Facility [Member]
Citi Bank [Member]
Dec. 31, 2012
Secured Syndicated Credit Facility [Member]
Revolving Credit Facility [Member]
Citi Bank [Member]
Apr. 26, 2012
Secured Syndicated Credit Facility [Member]
Revolving Credit Facility [Member]
Citi Bank [Member]
Apr. 26, 2012
Credit Agreement, Seventh Amendment [Member]
BOA [Member]
Dec. 31, 2013
Secured Term Loan [Member]
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Dec. 31, 2012
Secured Term Loan [Member]
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Apr. 26, 2012
Secured Term Loan [Member]
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Dec. 31, 2013
Minimum [Member]
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Dec. 31, 2013
Mid-range [Member]
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Dec. 31, 2013
Maximum [Member]
Secured Syndicated Credit Facility [Member]
Citi Bank [Member]
Line of Credit Facility [Line Items]                              
Debt instrument, face amount         $ 100,000,000       $ 55,000,000     $ 45,000,000      
Revolving credit facility, term           4 years                  
Credit agreement, maximum borrowing capacity               45,000,000              
Credit agreement, amortization period                   4 years          
Line of Credit Facility, Expansion               10,000,000              
Basis spread on variable interest rate                         1.50%   2.00%
Debt Instrument, Interest Rate at Period End                           1.67%  
Deferred Costs, Credit Card Origination Costs, Amount       434,000 744,000                    
Repayments of term loan 665,000 600,000 0           45,140,000 8,900,000          
Credit agreement, amount outstanding           22,800,000 37,800,000                
Line of credit, interest rate at period end           1.67%                  
Credit agreement, average amount outstanding during period           30,700,000                  
Credit agreement, maximum amount outstanding during period           37,800,000                  
Debt, Weighted Average Interest Rate           1.69% 1.71%                
Long-term Debt 56,669,000                 31,900,000 40,900,000        
Credit agreement, current amount outstanding                   $ 13,100,000          
Current maturities, period                   12 months          
Effective interest rate                   1.67%          
v2.4.0.8
Commitments and Contingencies (Minimum Rentals) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Long-term Debt, Fiscal Year Maturity [Abstract]  
Long-term debt maturities, 2014 $ 13,711
Long-term debt maturities, 2015 11,643
Long-term debt maturities, 2016 31,315
Long-term debt maturities, 2017 0
Long-term debt maturities, 2018 0
Long-term debt maturities, Thereafter 0
Total Debt 56,669
Less: current portion (13,711)
Long-term obligations, Debt 42,958
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]  
Capital Leases, future minimum payments due, 2014 195
Capital Leases, future minimum payments due, 2015 44
Capital Leases, future minimum payments due, 2016 0
Capital Leases, future minimum payments due, 2017 0
Capital Leases, future minimum payments due, 2018 0
Capital Leases, future minimum payments due, Thereafter 0
Total capital lease obligations 239
Less: amount representing interest (7)
Present value of obligations under capital leases 232
Less: current portion (188)
Long-term obligations, Capital Leases 44
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]  
Operating Leases, future minimum payments due, 2014 5,088
Operating Leases, future minimum payments due, 2015 3,287
Operating Leases, future minimum payments due, 2016 2,034
Operating Leases, future minimum payments due, 2017 1,965
Operating Leases, future minimum payments due, 2018 1,582
Operating Leases, future minimum payments due, Thereafter 550
Total operating lease obligations 14,506
Less: sublease income (5)
Net lease payments $ 14,501
v2.4.0.8
Commitments and Contingencies (Narrative) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Complaint
Dec. 31, 2012
Dec. 31, 2011
Commitments and Contingencies [Line Items]      
Nonoperating Income (Expense) $ (4,226,000) $ 0 $ 0
Nonoperating Income (Expense) (net of tax) (2,630,000)    
Number of derivative complaints 3    
Rent expense, operating leases 6,500,000 5,900,000 4,600,000
Operating Leases, Rent Expense, Sublease Rentals 55,000 5,000 0
Self-insured health insurance, liability 302,000 243,000  
Maximum [Member]
      
Commitments and Contingencies [Line Items]      
Self-insured health insurance limit, per person 120,000    
Self-insured health Insurance, aggregate liability based on participants and claims (percentage) 125.00%    
Self-insured health insurance, estimated cumulative liability for annual contract 2,900,000.0    
Computer Equipment [Member] | Minimum [Member]
      
Commitments and Contingencies [Line Items]      
Capital lease obligation, term 3 years    
Computer Equipment [Member] | Maximum [Member]
      
Commitments and Contingencies [Line Items]      
Capital lease obligation, term 5 years    
Microsoft [Member]
      
Commitments and Contingencies [Line Items]      
Estimated Litigation Liability $ 75,000    
v2.4.0.8
Share-based Compensation (Valuation Assumptions) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Share-based Compensation, Fair Value Assumptions [Abstract]      
Weighted average fair values of stock options granted (in dollars per share) $ 5.70 $ 5.47 $ 8.32
Expected volatility 59.90% 47.90% 59.00%
Expected dividends 2.01% 1.18% 0.74%
Weighted average risk-free interest rate 0.65% 0.33% 0.33%
Expected life of stock options (in years) 3 years 6 months 3 years 6 months 3 years 6 months
Stock Options [Member]
      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock compensation expense $ 474 $ 539 $ 537
v2.4.0.8
Share-based Compensation (Stock Option Activity) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Stock Options, Outstanding [Roll Forward]        
Stock options outstanding, ending balance 792,000      
Stock options, Exercisable 679,500      
Stock Options, Outstanding, Weighted Average Exercise Price [Roll Forward]        
Stock options, Weighted Average Exercise Price, beginning balance (in dollars per share) $ 4.03 $ 2.51 $ 2.22  
Stock options, Granted, Weighted Average Exercise Price (in dollars per share) $ 14.89 $ 16.94 $ 20.58  
Stock options, Exercised, Weighted Average Exercise Price (in dollars per share) $ 1.73 $ 0.75 $ 0.73  
Stock options, Canceled, Weighted Average Exercise Price (in dollars per share) $ 0 $ 0.00 $ 0.72  
Stock options, Weighted Average Exercise Price, ending balance (in dollars per share) $ 8.28 $ 4.03 $ 2.51 $ 2.22
Stock options, Exercisable, Weighted Average Exercise Price (in dollars per share) $ 6.78      
Stock Options, Additional Disclosures [Abstract]        
Stock options outstanding, Weighted Average Remaining Contractual Term (in years) 1 year 1 year 2 months 1 day 1 year 6 months 21 days 2 years 6 months 3 days
Stock options, Exercisable, Weighted Average Remaining Contractual Term (in years) 7 months 23 days      
Stock options outstanding, Aggregate Intrinsic Value $ 5,093 $ 24,171 $ 64,959 $ 71,638
Stock options, Exercisable, Aggregate Intrinsic Value 5,387      
Proceeds from stock options exercised 2,161 1,020 51  
Stock Options [Member]
        
Stock Options, Additional Disclosures [Abstract]        
Stock options exercised in period, intrinsic value $ 11,400 $ 24,800 $ 941  
Within Plans [Member]
        
Stock Options, Outstanding [Roll Forward]        
Stock options outstanding, beginning balance 1,998,633 3,315,175 3,340,476  
Stock options, Granted 45,000 45,000 45,000  
Stock options, Exercised (1,251,633) (1,361,542) (69,509)  
Stock options, Canceled 0 0 (792)  
Stock options outstanding, ending balance 792,000 1,998,633 3,315,175  
Stock options, Exercisable 679,500      
v2.4.0.8
Share-based Compensation (Nonvested Options) (Details) (Nonvested Option Shares [Member], USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Nonvested Option Shares [Member]
      
Nonvested Awards, Number of Shares [Roll Forward]      
Nonvested awards, Shares, beginning balance 135,000 180,005 247,690
Nonvested options, Granted 45,000 45,000 45,000
Nonvested options, Vested (67,500) (90,005) (112,685)
Nonvested options, Canceled 0 0 0
Nonvested awards, Shares, ending balance 112,500 135,000 180,005
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Exercise Price [Roll Forward]      
Nonvested options, Weighted Average Exercise Price, beginning balance (in dollars per share) $ 18.80 $ 17.17 $ 14.07
Nonvested options, Granted, Weighted Average Exercise Price (in dollars per share) $ 14.89 $ 16.94 $ 20.58
Nonvested options, Vested, Weighted Average Exercise Price (in dollars per share) $ 18.66 $ 14.60 $ 11.71
Nonvested options, Canceled, Weighted Average Exercise Price (in dollars per share) $ 0.00 $ 0.00 $ 0.00
Nonvested options, Weighted Average Exercise Price, ending balance (in dollars per share) $ 17.32 $ 18.80 $ 17.17
v2.4.0.8
Share-based Compensation (Option Price Ranges) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Stock options outstanding 792,000      
Stock options outstanding, Weighted Average Remaining Contractual Term (in years) 1 year 1 year 2 months 1 day 1 year 6 months 21 days 2 years 6 months 3 days
Stock options outstanding, Weighted Average Exercise Price (in dollars per share) $ 8.28 $ 4.03 $ 2.51 $ 2.22
Stock options exercisable 679,500      
Stock options exercisable, Weighted Average Exercise Price (in dollars per share) $ 6.78      
$1.75-$2.36 Exercise Price Range [Member]
        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Shares authorized under stock option plans, exercise price range, lower range limit $ 1.75      
Shares authorized under stock option plans, exercise price range, upper range limit $ 2.36      
Stock options outstanding, by exercise price range 477,000      
Stock options outstanding, Weighted Average Remaining Contractual Term (in years) 4 months 12 days      
Stock options outstanding, Weighted Average Exercise Price, by exercise price range (in dollars per share) $ 1.78      
Stock options exercisable, by exercise price range 477,000      
Stock options exercisable, Weighted Average Exercise Price, by exercise price range (in dollars per share) $ 1.78      
$14.89-$17.58 Exercise Price Range [Member] [Member]
        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Shares authorized under stock option plans, exercise price range, lower range limit $ 14.89      
Shares authorized under stock option plans, exercise price range, upper range limit $ 17.58      
Stock options outstanding, by exercise price range 225,000      
Stock options outstanding, Weighted Average Remaining Contractual Term (in years) 1 year 11 months 13 days      
Stock options outstanding, Weighted Average Exercise Price, by exercise price range (in dollars per share) $ 16.91      
Stock options exercisable, by exercise price range 146,250      
Stock options exercisable, Weighted Average Exercise Price, by exercise price range (in dollars per share) $ 17.53      
$20.58-$21.70 Exercise Price Range [Member] [Member]
        
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]        
Shares authorized under stock option plans, exercise price range, lower range limit $ 20.58      
Shares authorized under stock option plans, exercise price range, upper range limit $ 21.70      
Stock options outstanding, by exercise price range 90,000      
Stock options outstanding, Weighted Average Remaining Contractual Term (in years) 1 year 11 months 6 days      
Stock options outstanding, Weighted Average Exercise Price, by exercise price range (in dollars per share) $ 21.14      
Stock options exercisable, by exercise price range 56,250      
Stock options exercisable, Weighted Average Exercise Price, by exercise price range (in dollars per share) $ 21.25      
v2.4.0.8
Share-based Compensation (Nonvested Restricted Stock) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Installment
Dec. 31, 2012
Dec. 31, 2011
Nonvested Awards, Weighted Average Grant Date Fair Value [Roll Forward]      
Common shares reserved for stock option and restricted stock grants 5,700,000    
Restricted Stock [Member]
      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting rate, initial year (percent) 33.33%    
Quarterly award vesting installments after initial year 8    
Nonvested Awards, Number of Shares [Roll Forward]      
Nonvested awards, Shares, beginning balance 121,156 145,081 210,285
Nonvested awards, Shares Granted 32,842 73,061 103,469
Nonvested awards, Shares Vested (76,576) (90,379) (150,267)
Nonvested awards, Shares Forfeited (2,157) (6,607) (18,406)
Nonvested awards, Shares, ending balance 75,265 121,156 145,081
Nonvested Awards, Weighted Average Grant Date Fair Value [Roll Forward]      
Nonvested awards outstanding, Weighted Average Grant Date Fair Value, beginning balance (in dollars per share) $ 22.74 $ 20.13 $ 9.98
Nonvested awards, Granted, Weighted Average Grant Date Fair Value (in dollars per share) $ 15.91 $ 23.26 $ 23.33
Nonvested awards, Vested, Weighted Average Grant Date Fair Value (in dollars per share) $ 22.56 $ 18.89 $ 9.51
Nonvested awards, Forfeited, Weighted Average Grant Date Fair Value (in dollars per share) $ 23.42 $ 24.10 $ 8.79
Nonvested awards outstanding, Weighted Average Grant Date Fair Value, ending balance (in dollars per share) $ 12.97 $ 22.74 $ 20.13
Unrecognized compensation cost, share-based compensation arrangements $ 1,200,000    
Weighted average period to recognize nonvested awards (in years) 1 year 5 months 28 days    
Fair value of shares vested during period 1,700,000 1,700,000 1,400,000
Stock compensation expense recognized on restricted grants $ 1,500,000 $ 1,500,000 $ 1,700,000
v2.4.0.8
Income Taxes (Narrative) (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating Loss Carryforwards [Line Items]      
Operating loss carryforwards, domestic $ 51,000,000    
Operating Loss Carryforwards, Domestic, Utilized 5,700,000    
Foreign 5,371,000 4,497,000 2,990,000
Deferred Tax Liabilities, Undistributed Foreign Earnings 91,800,000    
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense 1,050,000    
India [Member]
      
Operating Loss Carryforwards [Line Items]      
Foreign tax holiday (percentage) 50.00%    
Foreign statutory income tax rate 33.99%    
Foreign income tax holiday, term 5 years    
Income Tax Holiday, Aggregate Dollar Amount 10,500,000    
Income Tax Holiday, Income Tax Benefits Per Share $ 0.270    
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent 18,640,000 11,540,000  
India [Member] | Minimum Alternative Tax (“MAT”) [Member]
      
Operating Loss Carryforwards [Line Items]      
Foreign statutory income tax rate 19.94%    
Foreign income tax holiday, term 10 years    
Income Taxes Paid 7,160,000    
Singapore [Member]
      
Operating Loss Carryforwards [Line Items]      
Foreign statutory income tax rate 17.00%    
Foreign effective income tax rate 10.00%    
Income Tax Holiday, Aggregate Dollar Amount $ 1,300,000    
Income Tax Holiday, Income Tax Benefits Per Share $ 0.033    
v2.4.0.8
Income Taxes (Pre-Tax Income) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Tax Disclosure [Abstract]      
Domestic $ 5,497 $ 6,604 $ 12,043
Foreign 64,655 71,425 61,452
Total $ 70,152 $ 78,029 $ 73,495
v2.4.0.8
Income Taxes (Components of Income Tax Expense) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Current Income Tax Expense (Benefit) [Abstract]      
Federal $ 266 $ 342 $ 1,237
State 167 320 822
Foreign 5,371 4,497 2,990
Current income tax provision 5,804 5,159 5,049
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Federal 6,185 3,827 3,699
State (351) 31 44
Foreign (760) (1,557) (1,755)
Deferred income tax provision 5,074 2,301 1,988
Provision for income taxes from ongoing operations at effective tax rate 10,878 7,460 7,037
Provision for income taxes from discrete items 0 0 (4,920)
Total provision for income taxes 10,878 7,460 2,117
Release of valuation allowance [Member]
      
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Provision for income taxes from discrete items 0 0 (6,625)
Windfall expense related to stock compensation [Member]
      
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Provision for income taxes from discrete items 0 0 1,938
Enhanced R&D deduction - foreign operations [Member]
      
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Provision for income taxes from discrete items $ 0 $ 0 $ (233)
v2.4.0.8
Income Taxes (Effective Income Tax Rates Reconciliation) (Details)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Statutory tax rate 35.00% 35.00% 35.00%
State income taxes, net of federal benefit (0.30%) 0.40% 0.80%
Uncertain tax matters 9.70% 3.50% 0.20%
Acquisition contingent earnout liability adjustments (5.00%) (0.40%) (1.00%)
Other 1.70% (2.10%) (1.80%)
Effective tax rate from ongoing operations 15.50% 9.60% 9.50%
Effective tax rate after discrete items 15.50% 9.60% 2.90%
Release of valuation allowance [Member]
      
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Discrete Items 0.00% 0.00% (9.00%)
Windfall expense related to stock compensation [Member]
      
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Discrete Items 0.00% 0.00% 2.60%
Enhanced R&D deduction - foreign operations [Member]
      
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Discrete Items 0.00% 0.00% (0.20%)
Singapore [Member]
      
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Tax impact of foreign subsidiaries (primarily in Singapore) (6.90%) (8.10%) (5.60%)
India [Member]
      
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Tax holiday - India (Permanent Difference) (15.20%) (15.60%) (15.10%)
Sweden [Member]
      
Schedule Of Effective Income Tax Rates Reconciliation [Line Items]      
Passive income exemption - Sweden (Permanent Difference) (3.50%) (3.10%) (3.00%)
v2.4.0.8
Income Taxes (Deferred Tax Liabilities and Assets) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Income Tax Disclosure [Abstract]    
Current deferred income tax assets $ 961 $ 2,074
Long-term deferred income tax assets 44,924 35,140
Total deferred income tax assets 45,885 37,214
Current deferred income tax liabilities (705) (239)
Long-term deferred income tax liabilities (24,308) (23,895)
Net deferred income tax asset $ 20,872 $ 13,080
v2.4.0.8
Income Taxes (Deferred Income Taxes) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets $ 45,885 $ 37,214
Deferred tax liabilities, gross 25,013 24,134
Valuation allowance 0 0
Deferred tax assets, net of valuation allowance 45,885 37,214
Deferred tax liabilities, net 25,013 24,134
Depreciation and amortization [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 580 102
Deferred tax liabilities, gross 0 0
Share-based compensation [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 781 721
Deferred tax liabilities, gross 0 0
Accruals and prepaids [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 3,415 1,627
Deferred tax liabilities, gross 788 239
Bad Debts [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 394 446
Deferred tax liabilities, gross 0 0
Acquired intangible assets [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 0 0
Deferred tax liabilities, gross 24,225 23,895
Net operating loss carryforwards [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 19,698 20,573
Deferred tax liabilities, gross 0 0
Tax credit carryforwards [Member]
    
Operating Loss Carryforwards [Line Items]    
Total deferred income tax assets 21,017 13,745
Deferred tax liabilities, gross $ 0 $ 0
v2.4.0.8
Income Taxes (Pre-Tax Income and Applicable Tax Rates) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Domestic $ 5,497 $ 6,604 $ 12,043
Pre-tax income, Foreign 64,655 71,425 61,452
Total 70,152 78,029 73,495
Statutory tax rate 35.00% 35.00% 35.00%
United States [Member]
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Domestic 5,497    
Statutory tax rate 35.00%    
Canada
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 1,344    
Statutory tax rate 30.50%    
Latin America [Member]
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 966    
Statutory tax rate 34.00%    
Australia
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 4,579    
Statutory tax rate 30.00%    
Singapore [Member]
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 17,523    
Statutory tax rate 10.00%    
New Zealand
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 485    
Statutory tax rate 28.00%    
India [Member]
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 31,387    
Statutory tax rate 0.00%    
Europe (United Kingdom)
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign 1,360    
Statutory tax rate 24.00%    
Sweden
      
Pre-Tax Income and Applicable Tax Rates [Line Items]      
Pre-tax income, Foreign $ 7,011    
Statutory tax rate 0.00%    
v2.4.0.8
Income Taxes (Unrecognized Tax Benefits) (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning Balance $ 5,925 $ 3,180 $ 2,980
Additions for tax positions related to current year 6,546 2,482 1,949
Additions for tax positions of prior years 271 263 307
Reductions for tax position of prior years 0 0 (2,056)
Ending Balance $ 12,742 $ 5,925 $ 3,180
v2.4.0.8
Stock Repurchases (Details) (USD $)
 0 Months Ended 12 Months Ended
Jun. 22, 2013
Jun. 30, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Stock Repurchases [Abstract]          
Stock Repurchase Program, Authorized Repurchase Amount $ 100,000,000 $ 100,000,000      
Stock Repurchased During Period, Shares     250,900 983,818 3,510,973
Payments for Repurchase of Common Stock     (2,492,000) (18,374,000) (63,659,000)
Stock Repurchase Program, Remaining Authorized Repurchase Amount     $ 102,900,000    
v2.4.0.8
Derivative Instruments (Details) (USD $)
 12 Months Ended 0 Months Ended 1 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Foreign Currency Hedge Contract [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2012
Foreign Currency Hedge Contract [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2011
Foreign Currency Hedge Contract [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2013
Foreign Currency Hedge Contract [Member]
Not Designated as Hedging Instrument [Member]
Dec. 31, 2012
Foreign Currency Hedge Contract [Member]
Not Designated as Hedging Instrument [Member]
Dec. 31, 2011
Foreign Currency Hedge Contract [Member]
Not Designated as Hedging Instrument [Member]
Jun. 02, 2012
Planetsoft [Member]
Stockholders
Jun. 30, 2012
Planetsoft [Member]
Dec. 31, 2013
Planetsoft [Member]
May 31, 2012
Planetsoft [Member]
Stockholders
Dec. 31, 2013
Planetsoft [Member]
Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 2 [Member]
Jun. 02, 2012
Planetsoft [Member]
Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 2 [Member]
May 31, 2012
Planetsoft [Member]
Fair Value, Measurements, Recurring [Member]
Fair Value, Inputs, Level 2 [Member]
Derivative [Line Items]                                
Change in unrealized gain (loss) on foreign currency fair value hedging instruments       $ 0 $ 1,200,000 $ (2,600,000)                    
Foreign currency transaction, realized gain (loss)             (262,000) 776,000 6,900,000              
Number of shareholders                   3     3      
Put option, exercise period                     30 days          
Put option, vesting period required prior to exercise                     2 years          
Shares that may be repurchased under put option                     296,560          
Put option, price to repurchase shares                   $ 16.86            
Put option, price to repurchase shares, discount                     10.00%          
Put option liability 0 1,186,000                         1,400,000 1,400,000
Change in fair value of put option 341,000 191,000 537,000                 341,000        
Derivative Liability, Current $ 845,000 $ 0                       $ 845,000    
v2.4.0.8
Accounts Payable and Accrued Expenses (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Accounts Payable and Accrued Liabilities, Current [Abstract]    
Trade accounts payable $ 4,515 $ 5,607
Accrued professional fees 1,046 295
Income taxes payable 8,173 6,913
Sales taxes payable 4,038 2,651
Other accrued liabilities 46 31
Accounts payable and accrued liabilities $ 17,818 $ 15,497
v2.4.0.8
Other Current Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Prepaid Expense and Other Assets, Current [Abstract]    
Prepaid expenses $ 3,824 $ 3,189
Sales taxes receivable from customers 220 598
Due from prior owners of acquired businesses for working capital settlements 720 955
Research and development tax credits receivable 720 266
Other 64 108
Total $ 5,548 $ 5,116
v2.4.0.8
Property and Equipment (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 23,278,000 $ 22,418,000  
Less accumulated depreciation and amortization (14,750,000) (12,336,000)  
Property and equipment, net 8,528,000 10,082,000  
Depreciation expense 2,800,000 3,100,000 2,700,000
Computer Equipment [Member]
      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 12,417,000 11,729,000  
Building [Member]
      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 3,119,000 3,103,000  
Land [Member]
      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 59,000 66,000  
Leasehold Improvements [Member]
      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 2,648,000 2,632,000  
Furniture, Fixtures and Other [Member]
      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 5,035,000 $ 4,888,000  
v2.4.0.8
Other Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Other Liabilities Disclosure [Abstract]        
Unrecognized Tax Benefits $ 12,742 $ 5,925 $ 3,180 $ 2,980
Off-market Lease, Unfavorable 394 499    
Other Liabilities 5 5    
Other liabilities $ 13,141 $ 6,429    
v2.4.0.8
Cash Option Profit Sharing Plan and Trust (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Option Profit Sharing Plan and Trust [Abstract]      
Contributions to 401(k) Cash Option Profit Sharing Plan $ 368 $ 364 $ 318
v2.4.0.8
Geographic Information (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
Reportable_Segments
Dec. 31, 2012
Dec. 31, 2011
Revenues from External Customers and Long-Lived Assets [Line Items]                              
Number of reportable segments                         1    
External Revenues $ 50,847 $ 50,293 $ 51,004 $ 52,566 $ 54,023 $ 53,804 $ 47,716 $ 43,827 $ 44,050 $ 42,602 $ 42,267 $ 40,050 $ 204,710 $ 199,370 $ 168,969
Long-lived assets 451,515       435,277       347,365       451,515 435,277 347,365
United States
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         139,519 140,933 120,780
Long-lived assets 309,732       317,338       259,425       309,732 317,338 259,425
Canada
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         7,431 6,395 836
Long-lived assets 8,784       9,738       0       8,784 9,738 0
Latin America
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         5,508 8,227 10,504
Long-lived assets 10,886       12,726       14,179       10,886 12,726 14,179
Australia
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         38,260 36,330 31,991
Long-lived assets 803       1,267       1,286       803 1,267 1,286
Singapore
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         3,114 2,827 2,943
Long-lived assets 68,987       70,173       63,866       68,987 70,173 63,866
New Zealand
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         2,311 2,205 1,915
Long-lived assets 97       240       233       97 240 233
India
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         650 233 0
Long-lived assets 23,784       11,784       8,376       23,784 11,784 8,376
Europe
                              
Revenues from External Customers and Long-Lived Assets [Line Items]                              
External Revenues                         7,917 2,220 0
Long-lived assets $ 28,442       $ 12,011       $ 0       $ 28,442 $ 12,011 $ 0
v2.4.0.8
Related Party Transactions (Details) (USD $)
 12 Months Ended 0 Months Ended
Dec. 31, 2012
BOA [Member]
Dec. 31, 2011
BOA [Member]
Apr. 26, 2012
BOA [Member]
Seventh Amendment [Member]
Related Party Transaction [Line Items]      
Revenue from related party $ 1,200,000 $ 860,000  
Receivable due from related party 216,000    
Repayments of related party debt     $ 45,140,000
v2.4.0.8
Quarterly Financial Information (unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]                              
Total revenues $ 50,847 $ 50,293 $ 51,004 $ 52,566 $ 54,023 $ 53,804 $ 47,716 $ 43,827 $ 44,050 $ 42,602 $ 42,267 $ 40,050 $ 204,710 $ 199,370 $ 168,969
Gross Profit 40,761 40,157 40,646 42,675 43,576 44,304 38,559 34,798 35,389 33,895 33,353 32,743      
Operating income 17,806 18,601 19,294 19,305 20,260 20,708 17,711 18,329 16,556 17,954 18,605 15,634 75,006 77,008 68,748
Net income $ 15,245 $ 13,143 $ 13,542 $ 17,344 $ 18,745 $ 18,072 $ 18,067 $ 15,685 $ 17,330 $ 16,536 $ 22,348 $ 15,164 $ 59,274 $ 70,569 $ 71,378
Basic (in dollars per share) $ 0.40 $ 0.35 $ 0.36 $ 0.47 $ 0.50 $ 0.49 $ 0.49 $ 0.43 $ 0.48 $ 0.44 $ 0.57 $ 0.40 $ 1.58 $ 1.91 $ 1.89
Diluted (in dollars per share) $ 0.40 $ 0.34 $ 0.35 $ 0.45 $ 0.48 $ 0.46 $ 0.47 $ 0.40 $ 0.44 $ 0.41 $ 0.53 $ 0.37 $ 1.53 $ 1.80 $ 1.75
v2.4.0.8
Minority Business Investment (Details) (USD $)
 0 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
May 04, 2012
Curepet, Inc. [Member]
Mar. 31, 2012
Curepet, Inc. [Member]
Dec. 31, 2013
Curepet, Inc. [Member]
Dec. 31, 2012
Curepet, Inc. [Member]
Jan. 27, 2014
Subsequent Event [Member]
Curepet, Inc. [Member]
Schedule of Cost-method Investments [Line Items]                
Cost method investment, ownership percentage       19.80%        
Payments to acquire cost method investment       $ 2,000,000        
Revenue from related party         1,500,000 1,200,000    
Receivable due from related party           1,400,000 212,000  
Purchase Price of Business Acquisition, Cost of Acquired Entity               6,350,000
Derivative Financial Instruments, Liabilities, Fair Value Disclosure $ 14,420,000 $ 17,495,000 $ 7,590,000         $ 5,000,000
v2.4.0.8
Temporary Equity Temporary Equity (Details) (USD $)
 12 Months Ended 0 Months Ended 1 Months Ended
Dec. 31, 2012
Jun. 02, 2012
Planetsoft [Member]
Stockholders
Jun. 30, 2012
Planetsoft [Member]
May 31, 2012
Planetsoft [Member]
Stockholders
Temporary Equity [Line Items]        
Equity instruments $ 0 $ 5,000,000.0    
Business acquisition, number of common shares issued   296,560    
Business acquisition, price per share   $ 16.86    
Number of shareholders   3   3
Put option, exercise period     30 days  
Put option, vesting period required prior to exercise     2 years  
Shares that may be repurchased under put option     296,560  
Put option, price to repurchase shares   $ 16.86    
v2.4.0.8
Subsequent Events (Details) (USD $)
 0 Months Ended 3 Months Ended 0 Months Ended 0 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Feb. 06, 2014
Subsequent Event [Member]
Mar. 17, 2014
Subsequent Event [Member]
May 04, 2012
Curepet, Inc. [Member]
Jan. 27, 2014
Curepet, Inc. [Member]
Subsequent Event [Member]
Mar. 07, 2014
Shareholder Securities Class Action [Member]
Subsequent Event [Member]
Subsequent Event [Line Items]                
Purchase Price of Business Acquisition, Cost of Acquired Entity             $ 6,350,000  
Payments to acquire cost method investment           2,000,000    
Common Stock, Dividends, Per Share, Declared       $ 0.075        
Stock Repurchased and Retired During Period, Shares         137,071      
Stock Repurchased During Period, Value         2,230,000      
Payments for Legal Settlements               4,200,000
Derivative Financial Instruments, Liabilities, Fair Value Disclosure $ 14,420,000 $ 17,495,000 $ 7,590,000       $ 5,000,000  
Cost method investment, ownership percentage           19.80%    
v2.4.0.8
Schedule II - Valuation and Qualifying Accounts Schedule II - Valuation and Qualifying Accounts (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Allowance for Doubtful Accounts Receivable [Member]
      
Movement in Valuation Allowances and Reserves [Roll Forward]      
Beginning balance $ 1,157 $ 1,719 $ 1,126
Provision for doubtful accounts 1,147 442 976
Write-off of accounts receivable against allowance (1,276) (1,004) (725)
Other 21 0 342
Ending balance 1,049 1,157 1,719
Deferred Tax Assets [Member]
      
Movement in Valuation Allowances and Reserves [Roll Forward]      
Beginning balance 0 0 (6,626)
Decrease (increase) 0 0 6,626
Ending balance $ 0 $ 0 $ 0