Company Quick10K Filing
Quick10K
Ceridian HCM Holding
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$57.22 141 $8,059
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
S-1 2019-03-15 Public Filing
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
8-K 2019-09-04 Enter Agreement, Other Events, Exhibits
8-K 2019-08-01 Officers, Other Events
8-K 2019-07-30 Exhibits
8-K 2019-05-21 Other Events, Exhibits
8-K 2019-05-07 Earnings, Exhibits
8-K 2019-05-01 Officers, Exhibits
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-05-01 Shareholder Vote
8-K 2019-04-09 Officers
8-K 2019-03-14 Other Events
8-K 2019-02-14
8-K 2019-02-05 Earnings, Officers, Exhibits
8-K 2018-10-29 Earnings, Exhibits
8-K 2018-08-08 Earnings, Exhibits
8-K 2018-08-07 Officers, Exhibits
8-K 2018-07-22 Officers, Exhibits
8-K 2018-05-22 Earnings, Exhibits
8-K 2018-05-09 Earnings, Exhibits
8-K 2018-04-30 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
SYMC Symantec 14,416
ESTC Elastic N.V. 6,688
RP Realpage 6,076
BL Blackline 2,780
TENB Tenable Holdings 2,144
AVID Avid Technology 305
MTBC Medical Transcription Billing 53
GVP GSE Systems 34
BVSN Broadvision 7
WK Workiva 0
CDAY 2019-06-30
Part I. Financial Information
Item 1. Condensed Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10.1 cday-ex101_22.htm
EX-10.2 cday-ex102_42.htm
EX-31.1 cday-ex311_9.htm
EX-31.2 cday-ex312_6.htm
EX-32.1 cday-ex321_8.htm
EX-32.2 cday-ex322_7.htm

Ceridian HCM Holding Earnings 2019-06-30

CDAY 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 cday-10q_20190630.htm 10-Q cday-10q_20190630.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly reporting period ended June 30, 2019

Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from                     to                    

Commission file number 001-38467

 

Ceridian HCM Holding Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

46-3231686

(State or Other Jurisdiction of
Incorporation or Organization)

(I.R.S. Employer

Identification Number)

3311 East Old Shakopee Road

Minneapolis, Minnesota 55425

(952) 853-8100

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common stock, $0.01 par value

 

CDAY

 

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

Accelerated filer

Non-accelerated filer

 

Smaller reporting company

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided to Section 13(a) of the Exchange Act.  ☐

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).    Yes  ☐    No  

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as the latest practicable date: 142,042,309 shares of Common Stock, $0.01 par value per share, as of July 26, 2019.

 

 

 


Ceridian HCM Holding Inc.

Table of Contents

 

 

2


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (“Form 10-Q”) contains, or incorporates by reference, not only historical information, but also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”) and that are subject to the safe harbor created by those sections. Forward-looking statements, including, without limitation, statements concerning the conditions of the human capital management solutions industry and our operations, performance, and financial condition, including, in particular, statements relating to our business, growth strategies, product development efforts, and future expenses. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “assumes,” “projects,” “could,” “may,” “will,” “should,” and similar references to future periods, or by the inclusion of forecasts or projections.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national, or global political, economic, business, competitive, market, and regulatory conditions and the following:

 

 

our inability to attain or to maintain profitability;

 

significant competition for our solutions;

 

our inability to continue to develop or to sell our existing Cloud solutions;

 

our inability to manage our growth effectively;

 

the risk that we may not be able to successfully migrate our Bureau customers to our Cloud solutions or to offset the decline in Bureau revenue with Cloud revenue;

 

the decline or slower than expected development of the market for enterprise cloud computing;

 

failure of our efforts to increase use of our Cloud solutions and our other applications may not succeed;

 

our failure to provide enhancements and new features and modifications to our solutions;

 

failure to comply the Federal Trade Commission’s (“FTC”) ongoing consent order regarding data protection;

 

system interruptions or failures, including cyber-security breaches, identity theft, or other disruptions that could compromise our information;

 

our failure to comply with applicable privacy, security and data laws, regulations and standards;

 

changes in regulations governing privacy concerns and laws or other domestic or foreign data protection regulations;

 

our inability to successfully expand our current offerings into new markets or further penetrate existing markets;

 

our inability to meet the more complex configuration and integration demands of our large customers;

 

the risk of our customers declining to renew their agreements with us or renewing at lower performance fee levels;

 

our failure to manage our technical operations infrastructure;

 

our inability to maintain necessary third party relationships, and third party software licenses or there are errors in the software we license;

 

our inability to protect our intellectual property rights, proprietary technology, information, processes, and know-how;

 

our failure to keep pace with rapid technological changes and evolving industry standards; or

 

changes in laws and regulations related to the Internet or changes in the Internet infrastructure itself.

Please refer to Part II, Item IA, “Risk Factors” of this Form 10-Q and Part I, Item IA, “Risk Factors” of our most recently filed Annual Report on Form 10-K, for the year ended December 31, 2018 (“2018 Form 10-K”), for a further description of these and other factors. Although we have attempted to identify important risk factors, there may be other risk factors not presently known to us or that we presently believe are not material that could cause actual results and developments to differ materially from those made in or suggested by the forward-looking statements contained in this Form 10-Q. If any of these risks materialize, or if any of the above assumptions underlying forward-looking statements prove incorrect, actual results and developments may differ materially from those made in or suggested by the forward-looking statements contained in this Form 10-Q. For the reasons described above, we caution you against relying on any forward-looking statements. Any forward-looking statement made by us in this Form 10-Q speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should be viewed as historical data.

3


PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Ceridian HCM Holding Inc.

Condensed Consolidated Balance Sheets

(Dollars in millions, except share data)

 

 

 

June 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

 

(unaudited)

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and equivalents

 

$

237.9

 

 

$

217.8

 

Trade and other receivables, net

 

 

67.8

 

 

 

63.9

 

Prepaids expenses and other current assets

 

 

59.4

 

 

 

48.9

 

Total current assets before customer trust funds

 

 

365.1

 

 

 

330.6

 

Customer trust funds

 

 

3,986.7

 

 

 

2,603.5

 

Total current assets

 

 

4,351.8

 

 

 

2,934.1

 

Right of use lease asset

 

 

39.5

 

 

 

 

Property, plant, and equipment, net

 

 

106.3

 

 

 

104.4

 

Goodwill

 

 

1,952.8

 

 

 

1,927.4

 

Other intangible assets, net

 

 

179.9

 

 

 

187.5

 

Other assets

 

 

99.0

 

 

 

94.4

 

Total assets

 

$

6,729.3

 

 

$

5,247.8

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

$

6.8

 

 

$

6.8

 

Short-term lease liabilities

 

 

13.7

 

 

 

 

Accounts payable

 

 

29.2

 

 

 

41.5

 

Deferred revenue

 

 

22.0

 

 

 

23.2

 

Employee compensation and benefits

 

 

43.9

 

 

 

54.5

 

Other accrued expenses

 

 

14.2

 

 

 

23.9

 

Total current liabilities before customer trust funds obligations

 

 

129.8

 

 

 

149.9

 

Customer trust funds obligations

 

 

3,963.5

 

 

 

2,619.7

 

Total current liabilities

 

 

4,093.3

 

 

 

2,769.6

 

Long-term debt, less current portion

 

 

660.7

 

 

 

663.5

 

Employee benefit plans

 

 

142.4

 

 

 

153.3

 

Long-term lease liabilities

 

 

34.8

 

 

 

 

Other liabilities

 

 

41.0

 

 

 

45.9

 

Total liabilities

 

 

4,972.2

 

 

 

3,632.3

 

Commitments and contingencies (Note 15)

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Common stock, $0.01 par, 500,000,000 shares authorized, 141,942,066 and

    139,453,710 shares issued and outstanding as of June 30, 2019, and

    December 31, 2018, respectively

 

 

1.4

 

 

 

1.4

 

Additional paid in capital

 

 

2,385.3

 

 

 

2,325.6

 

Accumulated deficit

 

 

(291.0

)

 

 

(335.6

)

Accumulated other comprehensive loss

 

 

(338.6

)

 

 

(375.9

)

Total stockholders’ equity

 

 

1,757.1

 

 

 

1,615.5

 

Total liabilities and equity

 

$

6,729.3

 

 

$

5,247.8

 

 

 

See accompanying notes to condensed consolidated financial statements.

4


 

Ceridian HCM Holding Inc.

Condensed Consolidated Statements of Operations

(Unaudited, dollars in millions, except share and per share data)

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

*As Adjusted

 

 

 

 

 

 

*As Adjusted

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring services

 

$

163.5

 

 

$

150.1

 

 

$

336.3

 

 

$

311.0

 

Professional services and other

 

 

32.8

 

 

 

28.9

 

 

 

63.7

 

 

 

56.8

 

Total revenue

 

 

196.3

 

 

 

179.0

 

 

 

400.0

 

 

 

367.8

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring services

 

 

48.7

 

 

 

49.5

 

 

 

99.6

 

 

 

100.2

 

Professional services and other

 

 

34.2

 

 

 

33.4

 

 

 

69.5

 

 

 

66.2

 

Product development and management

 

 

16.4

 

 

 

15.1

 

 

 

31.6

 

 

 

28.8

 

Depreciation and amortization

 

 

9.0

 

 

 

8.5

 

 

 

17.7

 

 

 

17.2

 

Total cost of revenue

 

 

108.3

 

 

 

106.5

 

 

 

218.4

 

 

 

212.4

 

Gross profit

 

 

88.0

 

 

 

72.5

 

 

 

181.6

 

 

 

155.4

 

Selling, general, and administrative expense

 

 

69.3

 

 

 

80.9

 

 

 

135.5

 

 

 

135.8

 

Operating profit (loss)

 

 

18.7

 

 

 

(8.4

)

 

 

46.1

 

 

 

19.6

 

Interest expense, net

 

 

8.5

 

 

 

43.4

 

 

 

17.4

 

 

 

65.6

 

Other expense (income), net

 

 

1.5

 

 

 

0.6

 

 

 

3.1

 

 

 

(1.6

)

Income (loss) from continuing operations before income taxes

 

 

8.7

 

 

 

(52.4

)

 

 

25.6

 

 

 

(44.4

)

Income tax expense

 

 

2.4

 

 

 

1.2

 

 

 

8.1

 

 

 

7.0

 

Income (loss) from continuing operations

 

 

6.3

 

 

 

(53.6

)

 

 

17.5

 

 

 

(51.4

)

Loss from discontinued operations

 

 

 

 

 

(9.7

)

 

 

 

 

 

(11.8

)

Net income (loss)

 

 

6.3

 

 

 

(63.3

)

 

 

17.5

 

 

 

(63.2

)

Net loss attributable to noncontrolling interest

 

 

 

 

 

 

 

 

 

 

 

(0.5

)

Net income (loss) attributable to Ceridian

 

$

6.3

 

 

$

(63.3

)

 

$

17.5

 

 

$

(62.7

)

Net income (loss) per share attributable to Ceridian:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.04

 

 

$

(0.58

)

 

$

0.12

 

 

$

(0.79

)

Diluted

 

$

0.04

 

 

$

(0.58

)

 

$

0.12

 

 

$

(0.79

)

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

141,149,009

 

 

 

113,311,107

 

 

 

140,651,902

 

 

 

89,445,371

 

Diluted

 

 

148,331,846

 

 

 

113,311,107

 

 

 

147,761,174

 

 

 

89,445,371

 

 

 

*Please refer to Note 2 for a summary of adjustments.

See accompanying notes to condensed consolidated financial statements.

5


Ceridian HCM Holding Inc.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited, dollars in millions)

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

*As Adjusted

 

 

 

 

 

 

*As Adjusted

 

Net income (loss)

 

$

6.3

 

 

$

(63.3

)

 

$

17.5

 

 

$

(63.2

)

Items of other comprehensive income (loss) before income taxes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in foreign currency translation adjustment

 

 

11.5

 

 

 

(10.2

)

 

 

23.8

 

 

 

(26.8

)

Change in unrealized gain (loss) from invested customer trust funds

 

 

17.3

 

 

 

(5.1

)

 

 

39.2

 

 

 

(18.5

)

Change in pension liability adjustment (1)

 

 

2.5

 

 

 

2.9

 

 

 

5.0

 

 

 

5.8

 

Other comprehensive income (loss) before income taxes

 

 

31.3

 

 

 

(12.4

)

 

 

68.0

 

 

 

(39.5

)

Income tax expense (benefit), net

 

 

0.9

 

 

 

(0.6

)

 

 

3.6

 

 

 

(1.4

)

Other comprehensive income (loss) after income taxes

 

 

30.4

 

 

 

(11.8

)

 

 

64.4

 

 

 

(38.1

)

Comprehensive income (loss)

 

 

36.7

 

 

 

(75.1

)

 

 

81.9

 

 

 

(101.3

)

Comprehensive income (loss) attributable to noncontrolling interest

 

 

 

 

 

0.2

 

 

 

 

 

 

(0.5

)

Comprehensive income (loss) attributable to Ceridian

 

$

36.7

 

 

$

(75.3

)

 

$

81.9

 

 

$

(100.8

)

(1)

The amount of the pension liability adjustment recognized in the condensed consolidated statements of operations within other expense (income), net was $2.6 and $3.0 during the three months ended June 30, 2019, and 2018, respectively, and $5.2 and $6.0 during the six months ended June 30, 2019, and 2018, respectively.

 

*Please refer to Note 2 for a summary of adjustments.

See accompanying notes to condensed consolidated financial statements.

6


Ceridian HCM Holding Inc.

Condensed Consolidated Statements of Stockholders’ Equity

(Unaudited, dollars in millions, except share data)

 

 

 

Common Stock

 

 

Additional

Paid In

 

 

Accumulated

 

 

Accumulated

Other

Comprehensive

 

 

Total

Stockholders

 

 

 

Shares

 

 

$

 

 

Capital

 

 

Deficit

 

 

Loss

 

 

Equity

 

Balance as of December 31, 2018

 

 

139,453,710

 

 

$

1.4

 

 

$

2,325.6

 

 

$

(335.6

)

 

$

(375.9

)

 

$

1,615.5

 

Cumulative-effect adjustment to accumulated deficit related to the

   adoption of ASU 2018-02 (Please refer to Note 2)

 

 

 

 

 

 

 

 

 

 

 

27.1

 

 

 

(27.1

)

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

11.2

 

 

 

 

 

 

11.2

 

Issuance of common stock under share-based compensation plans

 

 

1,221,622

 

 

 

 

 

 

20.1

 

 

 

 

 

 

 

 

 

20.1

 

Share-based compensation

 

 

 

 

 

 

 

 

6.0

 

 

 

 

 

 

 

 

 

6.0

 

Foreign currency translation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12.3

 

 

 

12.3

 

Change in unrealized loss, net of tax of $2.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19.2

 

 

 

19.2

 

Change in minimum pension & postretirement liability, net of tax of $0.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.5

 

 

 

2.5

 

Balance as of March 31, 2019

 

 

140,675,332

 

 

$

1.4

 

 

$

2,351.7

 

 

$

(297.3

)

 

$

(369.0

)

 

$

1,686.8

 

Net income

 

 

 

 

 

 

 

 

 

 

 

6.3

 

 

 

 

 

 

6.3

 

Issuance of common stock under share-based compensation plans

 

 

1,266,734

 

 

 

 

 

 

24.0

 

 

 

 

 

 

 

 

 

24.0

 

Share-based compensation

 

 

 

 

 

 

 

 

9.6

 

 

 

 

 

 

 

 

 

9.6

 

Foreign currency translation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11.5

 

 

 

11.5

 

Change in unrealized loss, net of tax of $0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16.4

 

 

 

16.4

 

Change in minimum pension & postretirement liability, net of tax of $0.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.5

 

 

 

2.5

 

Balance as of June 30, 2019

 

 

141,942,066

 

 

$

1.4

 

 

$

2,385.3

 

 

$

(291.0

)

 

$

(338.6

)

 

$

1,757.1

 

 

7


Ceridian HCM Holding Inc.

Condensed Consolidated Statements of Stockholders’ Equity

(Unaudited, dollars in millions, except share data)

 

 

 

 

Senior Preferred

Stock

 

 

Junior Preferred

Stock

 

 

Common Stock

 

 

Additional Paid In

 

 

Accumulated

 

 

Accumulated

Other

Comprehensive

 

 

Total

Stockholders

 

 

Non-controlling

 

 

Total

 

 

 

Shares

 

 

$

 

 

Shares

 

 

$

 

 

Shares

 

 

$

 

 

Capital

 

 

Deficit

 

 

Loss

 

 

Equity

 

 

Interest

 

 

Equity

 

Balance as of December

   31, 2017

 

 

16,802,144

 

 

$

184.8

 

 

 

58,244,308

 

 

$

0.6

 

 

 

65,285,962

 

 

$

0.7

 

 

$

1,565.4

 

 

$

(267.3

)

 

$

(311.0

)

 

$

1,173.2

 

 

$

37.8

 

 

$

1,211.0

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.6

 

 

 

 

 

 

0.6

 

 

 

(0.5

)

 

 

0.1

 

Issuance of common

   stock under share-based

   compensation plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

88,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior preferred dividends

   declared

 

 

 

 

 

5.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(5.3

)

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.9

 

 

 

 

 

 

 

 

 

2.9

 

 

 

 

 

 

2.9

 

Foreign currency translation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(16.4

)

 

 

(16.4

)

 

 

(0.2

)

 

 

(16.6

)

Change in unrealized

   loss, net of tax of ($0.8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12.6

)

 

 

(12.6

)

 

 

 

 

 

(12.6

)

Change in minimum

   pension & postretirement

   liability, net of tax of $0.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.9

 

 

 

2.9

 

 

 

 

 

 

2.9

 

Balance as of March 31,

   2018

 

 

16,802,144

 

 

$

190.1

 

 

 

58,244,308

 

 

$

0.6

 

 

 

65,374,309

 

 

$

0.7

 

 

$

1,568.3

 

 

$

(272.0

)

 

$

(337.1

)

 

$

1,150.6

 

 

$

37.1

 

 

$

1,187.7

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(63.3

)

 

 

 

 

 

(63.3

)

 

 

 

 

 

(63.3

)

Issuance of common stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28,695,455

 

 

 

0.3

 

 

 

594.7

 

 

 

 

 

 

 

 

 

595.0

 

 

 

 

 

 

595.0

 

Issuance of common

   stock under share-based

   compensation plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,148,801

 

 

 

 

 

 

14.1

 

 

 

 

 

 

 

 

 

14.1

 

 

 

 

 

 

14.1

 

Senior preferred dividends

   declared

 

 

 

 

 

2.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2.4

)

 

 

 

 

 

 

 

 

 

 

 

 

Conversion of senior and

   junior preferred shares

 

 

(16,802,144

)

 

 

(192.5

)

 

 

(58,244,308

)

 

 

(0.6

)

 

 

42,246,650

 

 

 

0.4

 

 

 

192.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LifeWorks Disposition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(95.7

)

 

 

-

 

 

 

0.7

 

 

 

(95.0

)

 

 

(37.3

)