Virtusa corp (VRTU)
Balance Sheet / TTM
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Assets
Current assets:
Cash and cash equivalents

217,387

183,372

190,007

189,676

210,579

176,981

154,792

194,897

226,718

162,257

153,979

144,908

133,878

158,897

140,339

148,986

119,742

82,258

103,848

124,802

98,278

93,967

76,926

82,761

93,406

64,939

50,968

57,199

62,623

46,596

48,179

58,105

48,935

48,701

69,931

50,218

Short-term investments

20,058

14,908

17,912

33,138

41,641

54,108

56,396

45,900

66,539

76,662

62,432

72,028

80,731

42,532

48,123

53,917

59,374

96,286

76,747

90,414

85,923

67,581

61,910

55,888

40,766

37,262

30,568

29,452

26,378

26,354

25,240

23,055

24,877

22,858

27,415

45,713

Accounts receivable, net of allowance of $1,637 and $2,253 at December 31, 2019 and March 31, 2019, respectively

149,800

155,510

149,652

162,396

153,467

162,497

146,510

151,455

138,294

138,443

146,960

135,453

117,926

122,999

127,261

138,530

93,708

97,290

91,994

75,431

73,582

69,645

69,811

64,662

60,894

64,295

75,185

68,612

65,131

67,907

54,158

58,789

54,386

51,227

43,675

41,823

Unbilled accounts receivable

106,716

113,683

116,722

113,431

94,111

96,605

117,911

103,829

67,196

65,153

56,056

66,122

71,127

59,008

59,638

58,063

22,591

23,690

23,812

27,914

25,175

23,759

29,747

26,548

18,028

17,194

15,972

15,702

10,010

7,334

11,451

7,634

7,991

7,868

9,753

7,512

Prepaid expenses

43,845

52,736

46,586

42,314

39,522

33,865

32,028

31,724

32,420

36,790

35,704

32,751

32,576

25,032

21,422

12,094

10,486

10,321

9,697

7,428

11,651

12,667

13,567

9,036

9,565

9,920

6,392

7,562

5,744

5,838

6,377

7,759

5,687

6,192

6,127

6,074

Restricted cash

1,735

233

336

351

413

1,298

505

301

265

941

262

174

220

229

1,089

93,921

23,622

3,463

2,905

45

1,792

2,553

2,732

2,662

690

6

342

350

390

399

3,125

2,828

2,824

2,931

162

163

Asset held for sale

8,749

8,844

9,042

8,978

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,764

7,978

7,793

7,639

6,026

5,938

6,306

6,610

9,149

9,515

8,842

7,674

3,370

3,429

4,674

8,470

4,519

2,512

1,201

1,244

Other current assets

32,308

32,862

33,715

29,967

26,978

19,221

21,182

21,229

23,641

26,455

32,884

28,806

24,392

23,469

22,652

23,268

13,926

13,957

15,461

13,565

12,582

12,326

10,820

11,922

8,430

6,402

6,917

8,333

6,856

7,205

5,856

5,831

5,055

4,577

6,931

6,284

Total current assets

580,598

562,148

563,972

580,251

566,711

544,575

529,324

549,335

555,073

506,701

488,277

480,242

460,850

432,166

420,524

528,779

351,213

335,243

332,257

347,238

315,009

288,436

271,819

260,089

240,928

209,533

195,186

194,884

180,502

165,062

159,060

172,471

154,274

146,866

165,195

159,031

Property and equipment, net

108,198

111,412

120,225

119,865

124,917

120,264

124,463

121,565

120,395

119,047

118,633

118,890

114,569

113,871

114,522

116,282

40,617

40,694

39,075

37,988

35,888

35,320

36,309

35,346

34,046

32,909

34,406

36,775

35,178

34,683

31,907

32,843

30,307

31,557

30,992

29,183

Operating lease right-of-use assets

50,894

50,933

54,222

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments accounted for using equity method

1,429

1,474

1,523

1,446

1,455

1,398

1,480

1,588

1,645

1,655

1,710

1,708

1,671

2,797

2,784

2,869

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term investments

10

198

366

322

862

1,410

1,842

4,140

10,676

15,120

18,655

20,057

22,547

25,908

19,398

28,817

22,080

24,887

20,100

20,732

40,271

53,607

56,014

62,015

8,128

8,155

8,126

8,319

8,006

7,006

4,951

4,269

5,147

3,210

7,682

15,819

Deferred income taxes

31,136

29,735

29,125

28,770

24,220

38,310

35,667

31,528

26,774

27,236

23,543

23,093

19,636

13,972

15,507

15,890

4,842

5,479

4,698

4,764

4,272

4,090

3,558

4,651

6,403

6,408

9,319

9,275

8,504

7,864

8,518

8,348

8,915

8,275

7,722

7,591

Goodwill

276,089

277,061

280,501

279,543

281,353

275,002

289,303

297,251

214,265

211,157

211,949

211,089

204,762

199,056

196,041

200,424

76,432

76,430

70,718

50,360

51,331

52,130

53,013

53,448

40,792

35,472

35,472

35,472

35,472

35,472

35,472

35,472

35,472

35,472

19,046

19,046

Intangible assets, net

99,519

101,330

97,689

92,440

92,326

94,212

91,515

96,001

52,215

54,119

56,778

58,361

59,110

61,458

63,491

66,846

32,957

34,321

34,445

21,909

23,572

25,218

26,993

28,661

19,159

14,696

15,055

15,692

16,322

16,967

17,611

18,248

19,018

19,801

9,288

9,666

Other long-term assets

38,085

39,895

35,780

29,836

22,201

15,728

16,532

11,772

12,514

9,316

9,147

9,980

9,365

17,157

17,298

20,105

5,501

5,607

5,747

6,746

5,788

5,602

5,560

5,215

3,565

2,916

3,014

3,502

9,844

9,591

7,190

3,143

7,974

6,922

6,787

5,841

Total assets

1,185,958

1,174,186

1,183,403

1,132,473

1,114,045

1,090,899

1,090,126

1,113,180

993,557

944,351

928,692

923,420

892,510

866,385

849,565

980,012

533,642

522,661

507,040

489,737

476,131

464,403

453,266

449,425

353,021

310,089

300,578

303,919

293,828

276,645

264,709

274,794

261,107

252,103

246,712

246,177

Liabilities, Series A convertible preferred stock, redeemable noncontrolling interest and stockholders' equity
Current liabilities:
Accounts payable

30,548

35,032

41,802

46,471

40,195

27,717

29,050

29,541

22,069

22,251

22,178

20,514

30,701

25,113

23,766

27,452

12,401

11,013

10,210

8,693

9,418

9,080

10,038

11,002

8,339

6,762

7,005

9,231

9,067

5,607

5,028

8,649

5,080

5,370

5,273

7,692

Accrued employee compensation and benefits

78,524

72,506

61,561

74,801

59,922

62,925

55,068

71,500

55,684

52,560

43,583

52,582

41,260

41,651

37,729

53,897

29,529

30,524

25,075

26,915

22,047

23,727

19,770

27,175

20,896

19,486

14,767

17,683

17,502

15,022

13,120

17,844

16,482

12,914

11,504

13,447

Deferred revenue

6,592

6,887

7,074

6,421

6,120

6,175

6,795

7,908

9,914

9,756

9,780

7,479

10,872

8,554

5,958

5,971

-

-

-

1,337

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other

65,675

66,910

77,334

70,050

121,083

109,677

100,204

91,306

39,261

37,245

35,314

33,251

26,971

28,158

28,198

42,763

31,618

34,462

33,206

22,425

27,784

25,834

27,651

27,299

24,024

22,807

20,691

17,811

19,525

16,576

23,970

22,011

23,280

17,616

11,159

12,976

Current portion of long-term debt

14,597

14,532

13,657

11,407

11,407

11,407

13,657

11,407

-

-

-

8,870

8,870

8,870

8,870

8,881

-

-

-

-

-

-

-

-

20,000

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

11,385

10,882

11,011

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable

6,729

5,184

5,917

4,844

2,109

5,034

7,030

5,038

4,008

3,780

3,811

3,066

2,880

1,782

2,410

2,300

1,933

1,516

2,289

1,834

2,478

1,957

2,186

1,294

1,713

1,463

2,951

4,509

7,705

6,427

5,321

4,954

4,049

3,001

2,911

1,652

Total current liabilities

214,050

211,933

218,356

213,994

240,836

222,935

211,804

216,700

130,936

125,592

114,666

125,762

121,554

114,128

106,931

141,264

75,481

77,515

70,780

61,204

61,727

60,598

59,645

66,770

74,972

50,518

45,414

49,234

53,799

43,632

47,439

53,458

48,891

38,901

30,847

35,767

Deferred income taxes

14,873

15,271

15,713

15,824

18,326

17,462

19,310

21,341

23,155

23,562

25,396

26,682

25,215

16,754

16,809

16,121

1,958

1,861

1,807

1,996

2,037

2,460

2,652

2,744

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities, noncurrent

44,009

44,535

47,708

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt, less current portion

375,164

369,992

348,469

351,320

311,672

314,524

285,376

288,227

130,439

105,157

104,869

176,722

178,939

181,157

183,374

185,633

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term liabilities

27,281

27,815

28,102

29,824

30,353

44,854

45,252

43,833

23,244

9,733

10,209

9,238

8,791

9,261

9,805

9,039

2,959

3,627

3,434

2,762

5,125

5,362

5,694

5,841

10,276

8,302

6,104

2,478

2,920

1,775

3,982

3,162

6,097

3,865

2,265

3,074

Total liabilities

675,377

669,546

658,348

610,962

601,187

599,775

561,742

570,101

307,774

264,044

255,140

338,404

334,499

321,300

316,919

352,057

80,398

83,003

76,021

65,962

68,889

68,420

67,991

75,355

85,248

58,820

51,518

51,712

56,719

45,407

51,421

56,620

54,988

42,766

33,112

38,841

Commitments and contingencies

-

-

-

-

-

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

Series A Convertible Preferred Stock: par value $0.01 per share, 108,000 shares authorized, 108,000 shares issued and outstanding at December 31, 2019 and March 31, 2019; redemption amount and liquidation preference of $108,000 at December 31, 2019 and March 31, 2019

107,285

107,243

107,202

107,161

107,120

107,079

107,037

106,996

106,955

106,914

106,872

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redeemable noncontrolling interest

-

-

18,651

23,576

24,924

24,614

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stockholders' equity:
Undesignated preferred stock, $0.01 par value; Authorized 5,000,000 shares at December 31, 2019 and March 31, 2019

-

-

-

-

-

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, $0.01 par value; Authorized 120,000,000 shares at December 31, 2019 and March 31, 2019; issued 33,246,073 and 33,012,775 shares at December 31, 2019 and March 31, 2019, respectively; outstanding 29,860,509 and 30,132,776 shares at December 31, 2019 and March 31, 2019, respectively

332

332

331

330

328

328

326

325

322

322

320

318

316

316

314

313

312

311

310

309

308

307

305

303

276

275

274

270

268

268

267

266

265

264

264

261

Treasury stock, 3,385,564 and 2,879,999 common shares, at cost, at December 31, 2019 and March 31, 2019, respectively

58,332

58,332

39,652

39,652

39,652

39,652

39,652

39,652

39,652

39,652

36,971

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

9,652

8,244

8,244

8,244

8,244

8,244

Additional paid-in capital

256,152

248,284

244,078

239,204

237,887

231,196

266,589

260,612

326,663

316,795

310,528

305,387

301,237

302,144

297,792

297,621

291,999

287,922

285,278

283,178

279,723

275,310

271,214

269,511

180,686

177,187

175,480

173,056

169,332

167,750

166,304

165,646

162,873

161,511

160,206

158,338

Retained earnings

272,673

261,040

255,026

250,279

243,006

231,517

231,100

238,019

236,224

247,366

243,685

240,728

230,263

225,828

222,614

228,870

216,580

205,267

194,181

184,068

172,519

160,739

150,625

141,622

131,575

122,247

114,769

107,247

98,156

90,751

84,988

78,849

73,051

67,457

62,769

58,814

Accumulated other comprehensive loss

-67,529

-69,055

-60,581

-59,387

-60,755

-64,233

-53,741

-40,681

-39,951

-42,729

-40,128

-39,749

-46,831

-40,152

-43,952

-42,139

-45,995

-44,190

-39,098

-34,128

-35,656

-30,721

-27,217

-27,714

-35,112

-38,788

-31,811

-18,714

-20,995

-17,879

-28,619

-18,343

-21,826

-11,651

-1,395

-1,833

Total Virtusa stockholders' equity

403,296

382,269

399,202

390,774

380,814

359,156

404,622

418,623

483,606

482,102

477,434

497,032

475,333

478,484

467,116

475,013

453,244

439,658

431,019

423,775

407,242

395,983

385,275

374,070

267,773

251,269

249,060

252,207

237,109

231,238

213,288

218,174

206,119

209,337

-

207,336

Noncontrolling interest in subsidiaries

-

15,128

-

-

-

275

16,725

17,460

95,222

91,291

89,246

87,984

82,678

66,601

65,530

152,942

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total Stockholders' equity

403,296

397,397

399,202

390,774

380,814

359,431

421,347

436,083

578,828

573,393

566,680

585,016

558,011

545,085

532,646

627,955

-

-

-

423,775

-

-

-

-

-

-

-

-

-

-

-

-

-

-

213,600

-

Total liabilities, Series A convertible preferred stock, redeemable noncontrolling interest and stockholders' equity

1,185,958

1,174,186

1,183,403

1,132,473

1,114,045

1,090,899

1,090,126

1,113,180

993,557

944,351

928,692

923,420

892,510

866,385

849,565

980,012

533,642

522,661

507,040

489,737

476,131

464,403

453,266

449,425

353,021

310,089

300,578

303,919

293,828

276,645

264,709

274,794

261,107

252,103

246,712

246,177