falsedesktopOTEX2020-12-31000100263821000011{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\t\tPage No\nPart I Financial Information\t\t\nItem 1. Financial Statements\t\t\n\tCondensed Consolidated Balance Sheets as of December 31 2020 (unaudited) and June 30 2020\t3\n\tCondensed Consolidated Statements of Income (Loss) - Three and Six Months Ended December 31 2020 and 2019 (unaudited)\t4\n\tCondensed Consolidated Statements of Comprehensive Income (Loss) - Three and Six Months Ended December 31 2020 and 2019 (unaudited)\t5\n\tCondensed Consolidated Statements of Shareholders' Equity - Three and Six Months Ended December 31 2020 and 2019 (unaudited)\t6\n\tCondensed Consolidated Statements of Cash Flows - Six Months Ended December 31 2020 and 2019 (unaudited)\t8\n\tNotes to Condensed Consolidated Financial Statements (unaudited)\t9\nItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations\t\t38\nItem 3. Quantitative and Qualitative Disclosures About Market Risk\t\t70\nItem 4. Controls and Procedures\t\t71\nPart II Other Information\t\t\nItem 1A. Risk Factors\t\t72\nItem 6. Exhibits\t\t73\nSignatures\t\t74\n", "q10k_tbl_1": "\tDecember 31 2020\tJune 30 2020\nASSETS\t(unaudited)\t\nCash and cash equivalents\t1500561\t1692850\nAccounts receivable trade net of allowance for credit losses of $22845 as of December 31 2020 and $20906 as of June 30 2020 (note 1 and note 4)\t445841\t466357\nContract assets (note 3)\t27460\t29570\nIncome taxes recoverable (note 15)\t24517\t61186\nPrepaid expenses and other current assets\t130177\t136436\nTotal current assets\t2128556\t2386399\nProperty and equipment (note 5)\t227434\t244555\nOperating lease right of use assets (note 6)\t235142\t207869\nLong-term contract assets (note 3)\t18175\t15427\nGoodwill (note 7)\t4696349\t4672356\nAcquired intangible assets (note 8)\t1402928\t1612564\nDeferred tax assets (note 15)\t866788\t911565\nOther assets (note 9)\t164238\t154467\nLong-term income taxes recoverable (note 15)\t29488\t29620\nTotal assets\t9769098\t10234822\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\nCurrent liabilities:\t\t\nAccounts payable and accrued liabilities (note 10)\t348080\t373314\nCurrent portion of long-term debt (note 11)\t10000\t610000\nOperating lease liabilities (note 6)\t59874\t64071\nDeferred revenues (note 3)\t798340\t812218\nIncome taxes payable (note 15)\t320084\t44630\nTotal current liabilities\t1536378\t1904233\nLong-term liabilities:\t\t\nAccrued liabilities (note 10)\t28334\t34955\nPension liability (note 12)\t83271\t73129\nLong-term debt (note 11)\t3581565\t3584311\nLong-term operating lease liabilities (note 6)\t227265\t217165\nLong-term deferred revenues (note 3)\t97083\t94382\nLong-term income taxes payable (note 15)\t32794\t171200\nDeferred tax liabilities (note 15)\t179161\t148738\nTotal long-term liabilities\t4229473\t4323880\nShareholders' equity:\t\t\nShare capital and additional paid-in capital (note 13)\t\t\n272588542 and 271863354 Common Shares issued and outstanding at December 31 2020 and June 30 2020 respectively; authorized Common Shares: unlimited\t1889857\t1851777\nAccumulated other comprehensive income (note 20)\t66476\t17825\nRetained earnings\t2093076\t2159396\nTreasury stock at cost (1101370 and 622297 shares at December 31 2020 and June 30 2020 respectively)\t(47555)\t(23608)\nTotal OpenText shareholders' equity\t4001854\t4005390\nNon-controlling interests\t1393\t1319\nTotal shareholders' equity\t4003247\t4006709\nTotal liabilities and shareholders' equity\t9769098\t10234822\n", "q10k_tbl_2": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nRevenues (note 3):\t\t\t\t\nCloud services and subscriptions\t350454\t248340\t691440\t485605\nCustomer support\t334492\t315508\t663891\t627806\nLicense\t107348\t138095\t175871\t215993\nProfessional service and other\t63350\t69614\t128455\t139041\nTotal revenues\t855644\t771557\t1659657\t1468445\nCost of revenues:\t\t\t\t\nCloud services and subscriptions\t117882\t103644\t230506\t205806\nCustomer support\t29668\t29788\t58862\t59175\nLicense\t4302\t3050\t6791\t5373\nProfessional service and other\t46619\t53604\t93200\t107942\nAmortization of acquired technology-based intangible assets (note 8)\t54091\t42299\t112128\t82597\nTotal cost of revenues\t252562\t232385\t501487\t460893\nGross profit\t603082\t539172\t1158170\t1007552\nOperating expenses:\t\t\t\t\nResearch and development\t100238\t80283\t194141\t161461\nSales and marketing\t147897\t137310\t280297\t265928\nGeneral and administrative\t62765\t54595\t118954\t106130\nDepreciation\t20280\t20712\t42283\t40989\nAmortization of acquired customer-based intangible assets (note 8)\t54926\t51460\t109919\t100618\nSpecial charges (recoveries) (note 18)\t(17494)\t10072\t(4250)\t15173\nTotal operating expenses\t368612\t354432\t741344\t690299\nIncome from operations\t234470\t184740\t416826\t317253\nOther income (expense) net (note 22)\t5251\t1972\t8134\t(813)\nInterest and other related expense net\t(37595)\t(32376)\t(76684)\t(64586)\nIncome before income taxes\t202126\t154336\t348276\t251854\nProvision for (recovery of) income taxes (note 15)\t267559\t46818\t310303\t69909\nNet income (loss) for the period\t(65433)\t107518\t37973\t181945\nNet (income) loss attributable to non-controlling interests\t(44)\t(51)\t(74)\t(77)\nNet income (loss) attributable to OpenText\t(65477)\t107467\t37899\t181868\nEarnings (loss) per share-basic attributable to OpenText (note 23)\t(0.24)\t0.40\t0.14\t0.67\nEarnings (loss) per share-diluted attributable to OpenText (note 23)\t(0.24)\t0.40\t0.14\t0.67\nWeighted average number of Common Shares outstanding-basic (in '000's)\t272433\t270450\t272210\t270232\nWeighted average number of Common Shares outstanding-diluted (in '000's)\t272433\t271590\t273019\t271328\n", "q10k_tbl_3": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nNet income (loss) for the period\t(65433)\t107518\t37973\t181945\nOther comprehensive income (loss)-net of tax:\t\t\t\t\nNet foreign currency translation adjustments\t26065\t4875\t48710\t(736)\nUnrealized gain (loss) on cash flow hedges:\t\t\t\t\nUnrealized gain (loss) - net of tax expense (recovery) effect of $751 and $301 for the three months ended December 31 2020 and 2019 respectively; $1056 and $95 for the six months ended December 31 2020 and 2019 respectively\t2082\t833\t2927\t261\n(Gain) loss reclassified into net income (loss) - net of tax (expense) recovery effect of ($227) and ($26) for the three months ended December 31 2020 and 2019 respectively; ($283) and ($23) for the six months ended December 31 2020 and 2019 respectively\t(628)\t(72)\t(784)\t(64)\nActuarial gain (loss) relating to defined benefit pension plans:\t\t\t\t\nActuarial gain (loss) - net of tax expense (recovery) effect of ($441) and $1308 for the three months ended December 31 2020 and 2019 respectively; ($1357) and $59 for the six months ended December 31 2020 and 2019 respectively\t(981)\t3698\t(2686)\t614\nAmortization of actuarial (gain) loss into net income (loss) - net of tax (expense) recovery effect of $93 and $97 for the three months ended December 31 2020 and 2019 respectively; $180 and $243 for the six months ended December 31 2020 and 2019 respectively\t243\t260\t484\t491\nTotal other comprehensive income (loss) net for the period\t26781\t9594\t48651\t566\nTotal comprehensive income (loss)\t(38652)\t117112\t86624\t182511\nComprehensive (income) loss attributable to non-controlling interests\t(44)\t(51)\t(74)\t(77)\nTotal comprehensive income (loss) attributable to OpenText\t(38696)\t117061\t86550\t182434\n", "q10k_tbl_4": "\tThree Months Ended December 31 2020\t\t\t\t\t\t\t\n\tCommon Shares and Additional Paid in Capital\t\tTreasury Stock\t\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-Controlling Interests\tTotal\n\tShares\tAmount\tShares\tAmount\nBalance as of September 30 2020\t272174\t1872411\t(1394)\t(58788)\t2213053\t39695\t1349\t4067720\nIssuance of Common Shares\t\t\t\t\t\t\t\t\nUnder employee stock option plans\t213\t6893\t0\t0\t0\t0\t0\t6893\nUnder employee stock purchase plans\t202\t7260\t0\t0\t0\t0\t0\t7260\nShare-based compensation\t0\t14526\t0\t0\t0\t0\t0\t14526\nIssuance of treasury stock\t0\t(11233)\t293\t11233\t0\t0\t0\t0\nDividends declared ($0.2008 per Common Share)\t0\t0\t0\t0\t(54500)\t0\t0\t(54500)\nOther comprehensive income - net\t0\t0\t0\t0\t0\t26781\t0\t26781\nNet income (loss) for the quarter\t0\t0\t0\t0\t(65477)\t0\t44\t(65433)\nBalance as of December 31 2020\t272589\t1889857\t(1101)\t(47555)\t2093076\t66476\t1393\t4003247\n", "q10k_tbl_5": "\tThree Months Ended December 31 2019\t\t\t\t\t\t\t\n\tCommon Shares and Additional Paid in Capital\t\tTreasury Stock\t\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-Controlling Interests\tTotal\n\tShares\tAmount\tShares\tAmount\nBalance as of September 30 2019\t270190\t1791689\t(1103)\t(41190)\t2141278\t15096\t1241\t3908114\nIssuance of Common Shares\t\t\t\t\t\t\t\t\nUnder employee stock option plans\t231\t6783\t0\t0\t0\t0\t0\t6783\nUnder employee stock purchase plans\t188\t6532\t0\t0\t0\t0\t0\t6532\nShare-based compensation\t0\t7783\t0\t0\t0\t0\t0\t7783\nIssuance of treasury stock\t0\t(9124)\t256\t9124\t0\t0\t0\t0\nDividends declared ($0.1746 per Common Share)\t0\t0\t0\t0\t(47092)\t0\t0\t(47092)\nOther comprehensive income - net\t0\t0\t0\t0\t0\t9594\t0\t9594\nNet income for the quarter\t0\t0\t0\t0\t107467\t0\t51\t107518\nBalance as of December 31 2019\t270609\t1803663\t(847)\t(32066)\t2201653\t24690\t1292\t3999232\n", "q10k_tbl_6": "\tSix Months Ended December 31 2020\t\t\t\t\t\t\t\n\tCommon Shares and Additional Paid in Capital\t\tTreasury Stock\t\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-Controlling Interests\tTotal\n\tShares\tAmount\tShares\tAmount\nBalance as of June 30 2020\t271863\t1851777\t(622)\t(23608)\t2159396\t17825\t1319\t4006709\nAdoption of ASU 2016-13 - cumulative effect net (note 1)\t0\t0\t0\t0\t(2450)\t0\t0\t(2450)\nIssuance of Common Shares\t\t\t\t\t\t\t\t\nUnder employee stock option plans\t524\t15498\t0\t0\t0\t0\t0\t15498\nUnder employee stock purchase plans\t202\t7553\t193\t6690\t0\t0\t0\t14243\nShare-based compensation\t0\t26262\t0\t0\t0\t0\t0\t26262\nPurchase of treasury stock\t0\t0\t(965)\t(41870)\t0\t0\t0\t(41870)\nIssuance of treasury stock\t0\t(11233)\t293\t11233\t0\t0\t0\t0\nDividends declared ($0.3754 per Common Share)\t0\t0\t0\t0\t(101769)\t0\t0\t(101769)\nOther comprehensive income - net\t0\t0\t0\t0\t0\t48651\t0\t48651\nNet income for the period\t0\t0\t0\t0\t37899\t0\t74\t37973\nBalance as of December 31 2020\t272589\t1889857\t(1101)\t(47555)\t2093076\t66476\t1393\t4003247\n", "q10k_tbl_7": "\tSix Months Ended December 31 2019\t\t\t\t\t\t\t\n\tCommon Shares and Additional Paid in Capital\t\tTreasury Stock\t\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-Controlling Interests\tTotal\n\tShares\tAmount\tShares\tAmount\nBalance as of June 30 2019\t269834\t1774214\t(803)\t(28766)\t2113883\t24124\t1215\t3884670\nIssuance of Common Shares\t\t\t\t\t\t\t\t\nUnder employee stock option plans\t415\t11359\t0\t0\t0\t0\t0\t11359\nUnder employee stock purchase plans\t360\t12540\t0\t0\t0\t0\t0\t12540\nShare-based compensation\t0\t14674\t0\t0\t0\t0\t0\t14674\nPurchase of treasury stock\t0\t0\t(300)\t(12424)\t0\t0\t0\t(12424)\nIssuance of treasury stock\t0\t(9124)\t256\t9124\t0\t0\t0\t0\nDividends declared ($0.3492 per Common Share)\t0\t0\t0\t0\t(94098)\t0\t0\t(94098)\nOther comprehensive income - net\t0\t0\t0\t0\t0\t566\t0\t566\nNet income for the period\t0\t0\t0\t0\t181868\t0\t77\t181945\nBalance as of December 31 2019\t270609\t1803663\t(847)\t(32066)\t2201653\t24690\t1292\t3999232\n", "q10k_tbl_8": "\tSix Months Ended December 31\t\n\t2020\t2019\nCash flows from operating activities:\t\t\nNet income for the period\t37973\t181945\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nDepreciation and amortization of intangible assets\t264330\t224204\nShare-based compensation expense\t26262\t14674\nPension expense\t3120\t2895\nAmortization of debt issuance costs\t2254\t2276\nLoss on sale and write down of property and equipment\t953\t0\nDeferred taxes\t80397\t34168\nShare in net (income) loss of equity investees\t(8255)\t(1948)\nChanges in operating assets and liabilities:\t\t\nAccounts receivable\t32727\t2598\nContract assets\t(20193)\t(17659)\nPrepaid expenses and other current assets\t7966\t(501)\nIncome taxes\t168841\t(891)\nAccounts payable and accrued liabilities\t(36538)\t(33235)\nDeferred revenue\t(18647)\t(64093)\nOther assets\t(1467)\t2357\nOperating lease assets and liabilities net\t(23364)\t(2105)\nNet cash provided by operating activities\t516359\t344685\nCash flows from investing activities:\t\t\nAdditions of property and equipment\t(22956)\t(38212)\nPurchase of XMedius\t444\t0\nPurchase of Carbonite Inc. net of cash and restricted cash acquired\t0\t(1216639)\nPurchase of Dynamic Solutions Group Inc.\t(371)\t(4149)\nOther investing activities\t(1370)\t(5541)\nNet cash used in investing activities\t(24253)\t(1264541)\nCash flows from financing activities:\t\t\nProceeds from issuance of Common Shares from exercise of stock options and ESPP\t29177\t23117\nProceeds from long-term debt and Revolver\t0\t750000\nRepayment of long-term debt and Revolver\t(605000)\t(5000)\nDebt issuance costs\t0\t(979)\nPurchase of treasury stock\t(41870)\t(12424)\nPayments of dividends to shareholders\t(101769)\t(94098)\nNet cash provided by (used in) financing activities\t(719462)\t660616\nForeign exchange gain (loss) on cash held in foreign currencies\t33771\t(4071)\nIncrease (decrease) in cash cash equivalents and restricted cash during the period\t(193585)\t(263311)\nCash cash equivalents and restricted cash at beginning of the period\t1697263\t943543\nCash cash equivalents and restricted cash at end of the period\t1503678\t680232\n", "q10k_tbl_9": "Reconciliation of cash cash equivalents and restricted cash:\tDecember 31 2020\tDecember 31 2019\nCash and cash equivalents\t1500561\t675403\nRestricted cash (1)\t3117\t4829\nTotal cash cash equivalents and restricted cash\t1503678\t680232\n", "q10k_tbl_10": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nTotal Revenues by Geography:\t\t\t\t\nAmericas (1)\t516852\t450691\t1025508\t870401\nEMEA (2)\t271021\t252268\t496956\t462435\nAsia Pacific (3)\t67771\t68598\t137193\t135609\nTotal revenues\t855644\t771557\t1659657\t1468445\n", "q10k_tbl_11": "Total Revenues by Type of Performance Obligation:\t\t\t\t\nRecurring revenues (4)\t\t\t\t\nCloud services and subscriptions revenue\t350454\t248340\t691440\t485605\nCustomer support revenue\t334492\t315508\t663891\t627806\nTotal recurring revenues\t684946\t563848\t1355331\t1113411\nLicense revenue (perpetual term and subscriptions)\t107348\t138095\t175871\t215993\nProfessional service and other revenue\t63350\t69614\t128455\t139041\nTotal revenues\t855644\t771557\t1659657\t1468445\nTotal Revenues by Timing of Revenue Recognition:\t\t\t\t\nPoint in time\t107348\t138095\t175871\t215993\nOver time (including professional service and other revenue)\t748296\t633462\t1483786\t1252452\nTotal revenues\t855644\t771557\t1659657\t1468445\n", "q10k_tbl_12": "\tAs of December 31 2020\tAs of June 30 2020\nShort-term contract assets\t27460\t29570\nLong-term contract assets\t18175\t15427\nShort-term deferred revenues\t798340\t812218\nLong-term deferred revenues\t97083\t94382\n", "q10k_tbl_13": "Capitalized costs to obtain a contract as of June 30 2020\t61163\nNew capitalized costs incurred\t13073\nAmortization of capitalized costs\t(10231)\nAdjustments on account of foreign exchange\t2391\nCapitalized costs to obtain a contract as of December 31 2020\t66396\n", "q10k_tbl_14": "Balance as of June 30 2020\t20906\nAdoption of Topic 326 - cumulative effect\t3025\nCredit loss expense\t2928\nWrite-off /adjustments\t(4014)\nBalance as of December 31 2020\t22845\n", "q10k_tbl_15": "\tAs of December 31 2020\t\t\n\tCost\tAccumulated Depreciation\tNet\nFurniture and fixtures\t39795\t(31243)\t8552\nOffice equipment\t2518\t(1311)\t1207\nComputer hardware\t297250\t(206023)\t91227\nComputer software\t118669\t(97562)\t21107\nCapitalized software development costs\t117429\t(77697)\t39732\nLeasehold improvements\t108792\t(76520)\t32272\nLand and buildings\t48264\t(14927)\t33337\nTotal\t732717\t(505283)\t227434\n", "q10k_tbl_16": "\tAs of June 30 2020\t\t\n\tCost\tAccumulated Depreciation\tNet\nFurniture and fixtures\t39158\t(28473)\t10685\nOffice equipment\t2272\t(1329)\t943\nComputer hardware\t294745\t(198194)\t96551\nComputer software\t127299\t(103057)\t24242\nCapitalized software development costs\t111202\t(70015)\t41187\nLeasehold improvements\t111384\t(74395)\t36989\nLand and buildings\t49268\t(15310)\t33958\nTotal\t735328\t(490773)\t244555\n", "q10k_tbl_17": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nOperating lease cost\t15720\t15955\t31262\t32102\nShort-term lease cost\t239\t190\t502\t288\nVariable lease cost\t607\t764\t1300\t1507\nSublease income\t(1576)\t(1583)\t(3193)\t(3137)\nTotal lease cost\t14990\t15326\t29871\t30760\n", "q10k_tbl_18": "\tAs of December 31 2020\tAs of June 30 2020\nWeighted-average remaining lease term\t6.39 years\t6.18 years\nWeighted-average discount rate\t2.85%\t3.12%\n", "q10k_tbl_19": "\tSix Months Ended December 31\t\n\t2020\t2019\nCash paid for amounts included in the measurement of operating lease liabilities\t38725\t36070\nRight of use assets obtained in exchange for new operating lease liabilities (1) (2)\t52541\t11835\n", "q10k_tbl_20": "Fiscal years ending June 30\t\n2021 (six months ended)\t34501\n2022\t63954\n2023\t53078\n2024\t41195\n2025\t30109\nThereafter\t90379\nTotal Lease payments\t313216\nLess: Imputed interest\t(26077)\nTotal\t287139\nReported as:\t\nCurrent operating lease liabilities\t59874\nNon-current operating lease liabilities\t227265\nTotal\t287139\n", "q10k_tbl_21": "Balance as of June 30 2020\t4672356\nAdjustments relating to acquisitions prior to Fiscal 2021 that had open measurement periods (note 19)\t(1605)\nImpact of foreign exchange rate changes\t25598\nBalance as of December 31 2020\t4696349\n", "q10k_tbl_22": "\tAs of December 31 2020\t\t\n\tCost\tAccumulated Amortization\tNet\nTechnology assets\t1009581\t(534087)\t475494\nCustomer assets\t1442267\t(514833)\t927434\nTotal\t2451848\t(1048920)\t1402928\n\tAs of June 30 2020\t\t\n\tCost\tAccumulated Amortization\tNet\nTechnology assets\t1084144\t(502376)\t581768\nCustomer assets\t1434832\t(404036)\t1030796\nTotal\t2518976\t(906412)\t1612564\n", "q10k_tbl_23": "Fiscal years ending June 30\t\n2021 (six months ended)\t213473\n2022\t399956\n2023\t317950\n2024\t236259\n2025\t123570\n2026 and beyond\t111720\nTotal\t1402928\n", "q10k_tbl_24": "\tAs of December 31 2020\tAs of June 30 2020\nDeposits and restricted cash\t11557\t11612\nCapitalized costs to obtain a contract\t47316\t43029\nInvestments\t82791\t76002\nLong-term prepaid expenses and other long-term assets\t22574\t23824\nTotal\t164238\t154467\n", "q10k_tbl_25": "\tAs of December 31 2020\tAs of June 30 2020\nAccounts payable-trade\t42121\t41469\nAccrued salaries and commissions\t126243\t155496\nAccrued liabilities\t91374\t78793\nAccrued sales and other tax liabilities\t39415\t50255\nAccrued interest on Senior Notes\t31161\t30761\nAmounts payable in respect of restructuring and other special charges\t14297\t12185\nAsset retirement obligations\t3469\t4355\nTotal\t348080\t373314\n", "q10k_tbl_26": "\tAs of December 31 2020\tAs of June 30 2020\nAmounts payable in respect of restructuring and other special charges\t3547\t13768\nOther accrued liabilities\t11073\t8215\nAsset retirement obligations\t13714\t12972\nTotal\t28334\t34955\n", "q10k_tbl_27": "\tAs of December 31 2020\tAs of June 30 2020\nTotal debt\t\t\nSenior Notes 2030\t900000\t900000\nSenior Notes 2028\t900000\t900000\nSenior Notes 2026\t850000\t850000\nTerm Loan B\t972500\t977500\nRevolver\t0\t600000\nTotal principal payments due\t3622500\t4227500\nPremium on Senior Notes 2026\t4418\t4756\nDebt issuance costs\t(35353)\t(37945)\nTotal amount outstanding\t3591565\t4194311\nLess:\t\t\nCurrent portion of long-term debt\t\t\nTerm Loan B\t10000\t10000\nRevolver\t0\t600000\nTotal current portion of long-term debt\t10000\t610000\nNon-current portion of long-term debt\t3581565\t3584311\n", "q10k_tbl_28": "\tAs of December 31 2020\t\t\n\tTotal benefit obligation\tCurrent portion of benefit obligation(1)\tNon-current portion of benefit obligation\nCDT defined benefit plan\t38352\t871\t37481\nGXS GER defined benefit plan\t28049\t1032\t27017\nGXS PHP defined benefit plan\t10807\t319\t10488\nOther plans\t9112\t827\t8285\nTotal\t86320\t3049\t83271\n", "q10k_tbl_29": "\tAs of June 30 2020\t\t\n\tTotal benefit obligation\tCurrent portion of benefit obligation(1)\tNon-current portion of benefit obligation\nCDT defined benefit plan\t32851\t777\t32074\nGXS GER defined benefit plan\t24105\t943\t23162\nGXS PHP defined benefit plan\t10270\t115\t10155\nOther plans\t8590\t852\t7738\nTotal\t75816\t2687\t73129\n", "q10k_tbl_30": "\tAs of December 31 2020\t\t\t\tAs of June 30 2020\t\t\t\n\tCDT\tGXS GER\tGXS PHP\tTotal\tCDT\tGXS GER\tGXS PHP\tTotal\nBenefit obligation-beginning of fiscal year\t32851\t24105\t10270\t67226\t35836\t26739\t6904\t69479\nService cost\t237\t104\t841\t1182\t572\t319\t1247\t2138\nInterest cost\t253\t182\t195\t630\t459\t337\t368\t1164\nBenefits paid\t(400)\t(512)\t(4)\t(916)\t(644)\t(926)\t(792)\t(2362)\nActuarial (gain) loss\t2762\t2227\t(945)\t4044\t(3073)\t(2083)\t2333\t(2823)\nForeign exchange (gain) loss\t2649\t1943\t450\t5042\t(299)\t(281)\t210\t(370)\nBenefit obligation-end of period\t38352\t28049\t10807\t77208\t32851\t24105\t10270\t67226\nLess: Current portion\t(871)\t(1032)\t(319)\t(2222)\t(777)\t(943)\t(115)\t(1835)\nNon-current portion of benefit obligation\t37481\t27017\t10488\t74986\t32074\t23162\t10155\t65391\n", "q10k_tbl_31": "\tThree Months Ended December 31\t\t\t\t\t\t\t\n\t2020\t\t\t\t2019\t\t\t\nPension expense:\tCDT\tGXS GER\tGXS PHP\tTotal\tCDT\tGXS GER\tGXS PHP\tTotal\nService cost\t121\t53\t410\t584\t144\t80\t310\t534\nInterest cost\t129\t93\t102\t324\t115\t84\t88\t287\nAmortization of actuarial (gains) and losses\t181\t29\t0\t210\t235\t61\t(72)\t224\nNet pension expense\t431\t175\t512\t1118\t494\t225\t326\t1045\n", "q10k_tbl_32": "\tSix Months Ended December 31\t\t\t\t\t\t\t\n\t2020\t\t\t\t2019\t\t\t\nPension expense:\tCDT\tGXS GER\tGXS PHP\tTotal\tCDT\tGXS GER\tGXS PHP\tTotal\nService cost\t237\t104\t841\t1182\t286\t159\t609\t1054\nInterest cost\t253\t182\t195\t630\t229\t168\t173\t570\nAmortization of actuarial (gains) and losses\t354\t57\t0\t411\t469\t122\t(143)\t448\nNet pension expense\t844\t343\t1036\t2223\t984\t449\t639\t2072\n", "q10k_tbl_33": "\tAs of December 31 2020\t\t\tAs of June 30 2020\t\t\n\tCDT\tGXS GER\tGXS PHP\tCDT\tGXS GER\tGXS PHP\nAssumptions:\t\t\t\t\t\t\nSalary increases\t1.75%\t2.50%\t6.50%\t1.75%\t2.50%\t6.50%\nPension increases\t1.50%\t2.00%\tN/A\t1.50%\t2.00%\tN/A\nDiscount rate\t1.00%\t1.00%\t4.00%\t1.46%\t1.46%\t3.50%\nNormal retirement age\t65-67\t65-67\t60\t65-67\t65-67\t60\nEmployee fluctuation rate:\t\t\t\t\t\t\nto age 20\t-%\t-%\t12.19%\t-%\t-%\t12.19%\nto age 25\t-%\t-%\t16.58%\t-%\t-%\t16.58%\nto age 30\t1.00%\t-%\t13.97%\t1.00%\t-%\t13.97%\nto age 35\t0.50%\t-%\t10.77%\t0.50%\t-%\t10.77%\nto age 40\t-%\t-%\t7.39%\t-%\t-%\t7.39%\nto age 45\t0.50%\t-%\t3.28%\t0.50%\t-%\t3.28%\nto age 50\t0.50%\t-%\t-%\t0.50%\t-%\t-%\nfrom age 51\t1.00%\t-%\t-%\t1.00%\t-%\t-%\n", "q10k_tbl_34": "\tFiscal years ending June 30\t\t\n\tCDT\tGXS GER\tGXS PHP\n2021 (six months ended)\t419\t508\t144\n2022\t905\t1047\t325\n2023\t1007\t1047\t239\n2024\t1117\t1054\t297\n2025\t1166\t1085\t348\n2026 to 2030\t6693\t5318\t3290\nTotal\t11307\t10059\t4643\n", "q10k_tbl_35": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nStock options\t4575\t2667\t7869\t4677\nPerformance Share Units (issued under LTIP)\t2555\t1521\t5039\t2921\nRestricted Share Units (issued under LTIP)\t1956\t1309\t3958\t2969\nRestricted Share Units (other)\t3084\t10\t5070\t20\nDeferred Share Units (directors)\t1075\t1124\t1813\t1875\nEmployee Share Purchase Plan\t1281\t1152\t2513\t2212\nTotal share-based compensation expense\t14526\t7783\t26262\t14674\n", "q10k_tbl_36": "\tOptions\tWeighted- Average Exercise Price\tWeighted- Average Remaining Contractual Term (years)\tAggregate Intrinsic Value ($'000's)\nOutstanding at June 30 2020\t7429537\t36.18\t4.78\t49574\nGranted\t2865709\t45.47\t\t\nExercised\t(523690)\t29.59\t\t\nForfeited or expired\t(222260)\t43.22\t\t\nOutstanding at December 31 2020\t9549296\t39.17\t5.06\t61019\nExercisable at December 31 2020\t2427802\t32.08\t3.00\t32478\n", "q10k_tbl_37": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nWeighted-average fair value of options granted\t7.33\t6.74\t8.38\t6.49\nWeighted-average assumptions used:\t\t\t\t\nExpected volatility\t26.64%\t22.03%\t26.18%\t22.09%\nRisk-free interest rate\t0.26%\t1.55%\t0.20%\t1.65%\nExpected dividend yield\t1.75%\t1.64%\t1.54%\t1.67%\nExpected life (in years)\t4.15\t4.11\t4.66\t4.11\nForfeiture rate (based on historical rates)\t7%\t7%\t7%\t7%\nAverage exercise share price\t41.44\t41.13\t45.36\t39.33\n", "q10k_tbl_38": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nWeighted-average fair value of options granted\t0\t0\t10.18\t0\nDerived service period (in years)\t0\t0\t1.80\t0\nWeighted-average assumptions used:\t\t\t\t\nExpected volatility\t0\t0\t28.00%\t0\nRisk-free interest rate\t0\t0\t0.42%\t0\nExpected dividend yield\t0\t0\t1.70%\t0\nAverage exercise share price\t0\t0\t45.81\t0\n", "q10k_tbl_39": "\tPayments due between\t\t\t\t\n\tTotal\tJanuary 1 2021 - June 30 2021\tJuly 1 2021 - June 30 2023\tJuly 1 2023 - June 30 2025\tJuly 1 2025 and beyond\nLong-term debt obligations (1)\t4592179\t75225\t300727\t1226039\t2990188\nPurchase obligations for contracts not accounted for as lease obligations (2)\t97173\t35684\t61489\t0\t0\n\t4689352\t110909\t362216\t1226039\t2990188\n", "q10k_tbl_40": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nInterest expense (recoveries)\t41558\t2652\t44107\t1234\nPenalties expense (recoveries)\t705\t(156)\t383\t75\nTotal\t42263\t2496\t44490\t1309\n", "q10k_tbl_41": "\tAs of December 31 2020\tAs of June 30 2020\nInterest expense accrued *\t4850\t70364\nPenalties accrued *\t1990\t2620\n", "q10k_tbl_42": "\tDecember 31 2020\t\t\t\t\t\t\t\tJune 30 2020\t\t\t\t\n\t\t\tFair Market Measurements using:\t\t\t\t\t\t\t\tFair Market Measurements using:\t\t\n\tDecember 31 2020\t\tQuoted prices in active markets for identical assets/ (liabilities)\t\tSignificant other observable inputs\t\tSignificant unobservable inputs\t\tJune 30 2020\t\tQuoted prices in active markets for identical assets/ (liabilities)\tSignificant other observable inputs\tSignificant unobservable inputs\n(Level 1)\t\t(Level 2)\t\t(Level 3)\t\t(Level 1)\t\t(Level 2)\t\t(Level 3)\nFinancial Assets:\t\t\t\t\t\t\t\t\t\t\t\t\t\nForeign currency forward contracts designated as cash flow hedges (note 17)\t2731\t\t0\t\t2731\t\t0\t\t0\t\t0\t0\t0\nTotal\t2731\t\t0\t\t2731\t\t0\t\t0\t\t0\t0\t0\nFinancial Liabilities:\t\t\t\t\t\t\t\t\t\t\t\t\t\nForeign currency forward contracts designated as cash flow hedges (note 17)\t0\t\t0\t\t0\t\t0\t\t(185)\t\t0\t(185)\t0\nTotal\t0\t\t0\t\t0\t\t0\t\t(185)\t\t0\t(185)\t0\n", "q10k_tbl_43": "Three and Six Months Ended December 31 2020\t\t\t\t\t\nDerivatives in Cash Flow Hedging Relationship\tAmount of Gain or (Loss) Recognized in OCI (Loss) on Derivatives (Effective Portion)\t\tLocation of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)\tAmount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)\t\n\tThree Months Ended December 31 2020\tSix Months Ended December 31 2020\t\tThree Months Ended December 31 2020\tSix Months Ended December 31 2020\nForeign currency forward contracts\t2833\t3983\tOperating expenses\t855\t1067\nThree and Six Months Ended December 31 2019\t\t\t\t\t\nDerivatives in Cash Flow Hedging Relationship\tAmount of Gain or (Loss) Recognized in OCI (Loss) on Derivatives (Effective Portion)\t\tLocation of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)\tAmount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)\t\n\tThree Months Ended December 31 2019\tSix Months Ended December 31 2019\t\tThree Months Ended December 31 2019\tSix Months Ended December 31 2019\nForeign currency forward contracts\t1134\t356\tOperating expenses\t98\t87\n", "q10k_tbl_44": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nCOVID-19 Restructuring Plan\t(11285)\t0\t(7734)\t0\nFiscal 2020 Restructuring Plan\t(7523)\t0\t1202\t0\nRestructuring Plans prior to Fiscal 2020 Restructuring Plan\t(88)\t(393)\t1\t1483\nAcquisition-related costs\t659\t7779\t1448\t10445\nOther charges (recoveries)\t743\t2686\t833\t3245\nTotal\t(17494)\t10072\t(4250)\t15173\n", "q10k_tbl_45": "COVID-19 Restructuring Plan\tWorkforce reduction\tFacility charges\tTotal\nBalance payable as of June 30 2020\t5172\t12276\t17448\nAccruals and adjustments\t2025\t(3058)\t(1033)\nCash payments\t(5308)\t(1659)\t(6967)\nForeign exchange and other non-cash adjustments\t306\t153\t459\nBalance payable as of December 31 2020\t2195\t7712\t9907\n", "q10k_tbl_46": "Fiscal 2020 Restructuring Plan\tWorkforce reduction\tFacility charges\tTotal\nBalance payable as of June 30 2020\t1576\t6442\t8018\nAccruals and adjustments\t9400\t(1201)\t8199\nCash payments\t(7538)\t(870)\t(8408)\nForeign exchange and other non-cash adjustments\t68\t(392)\t(324)\nBalance payable as of December 31 2020\t3506\t3979\t7485\n", "q10k_tbl_47": "Current assets\t8479\nNon-current tangible assets\t3792\nIntangible customer assets\t35910\nIntangible technology assets\t11143\nLiabilities assumed\t(35653)\nTotal identifiable net assets\t23671\nGoodwill\t49220\nNet assets acquired\t72891\n", "q10k_tbl_48": "Current assets (inclusive of cash acquired of $62.9 million)\t127532\nNon-current tangible assets (inclusive of restricted cash acquired of $2.4 million)\t105742\nIntangible customer assets\t549500\nIntangible technology assets\t290000\nLiabilities assumed\t(554320)\nTotal identifiable net assets\t518454\nGoodwill\t851970\nNet assets acquired\t1370424\n", "q10k_tbl_49": "\tThree Months Ended December 31 2020\t\t\t\n\tForeign Currency Translation Adjustments\tCash Flow Hedges\tDefined Benefit Pension Plans\tAccumulated Other Comprehensive Income\nBalance as of September 30 2020\t55613\t553\t(16471)\t39695\nOther comprehensive income (loss) before reclassifications net of tax\t26065\t2082\t(981)\t27166\nAmounts reclassified into net income (loss) net of tax\t0\t(628)\t243\t(385)\nTotal other comprehensive income (loss) net for the period\t26065\t1454\t(738)\t26781\nBalance as of December 31 2020\t81678\t2007\t(17209)\t66476\n", "q10k_tbl_50": "\tSix Months Ended December 31 2020\t\t\t\n\tForeign Currency Translation Adjustments\tCash Flow Hedges\tDefined Benefit Pension Plans\tAccumulated Other Comprehensive Income\nBalance as of June 30 2020\t32968\t(136)\t(15007)\t17825\nOther comprehensive income (loss) before reclassifications net of tax\t48710\t2927\t(2686)\t48951\nAmounts reclassified into net income net of tax\t0\t(784)\t484\t(300)\nTotal other comprehensive income (loss) net for the period\t48710\t2143\t(2202)\t48651\nBalance as of December 31 2020\t81678\t2007\t(17209)\t66476\n", "q10k_tbl_51": "\tThree Months Ended December 31 2019\t\t\t\n\tForeign Currency Translation Adjustments\tCash Flow Hedges\tDefined Benefit Pension Plans\tAccumulated Other Comprehensive Income\nBalance as of September 30 2019\t35141\t(23)\t(20022)\t15096\nOther comprehensive income (loss) before reclassifications net of tax\t4875\t833\t3698\t9406\nAmounts reclassified into net income net of tax\t0\t(72)\t260\t188\nTotal other comprehensive income (loss) net for the period\t4875\t761\t3958\t9594\nBalance as of December 31 2019\t40016\t738\t(16064)\t24690\n", "q10k_tbl_52": "\tSix Months Ended December 31 2019\t\t\t\n\tForeign Currency Translation Adjustments\tCash Flow Hedges\tDefined Benefit Pension Plans\tAccumulated Other Comprehensive Income\nBalance as of June 30 2019\t40752\t541\t(17169)\t24124\nOther comprehensive income (loss) before reclassifications net of tax\t(736)\t261\t614\t139\nAmounts reclassified into net income net of tax\t0\t(64)\t491\t427\nTotal other comprehensive income (loss) net for the period\t(736)\t197\t1105\t566\nBalance as of December 31 2019\t40016\t738\t(16064)\t24690\n", "q10k_tbl_53": "\tSix Months Ended December 31\t\n\t2020\t2019\nCash paid during the period for interest\t75433\t68129\nCash received during the period for interest\t2336\t7423\nCash paid during the period for income taxes\t48193\t33372\n", "q10k_tbl_54": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nForeign exchange gains (losses)\t3476\t352\t(10)\t(3307)\nOpenText share in net income of equity investees (note 9)\t2034\t1266\t8255\t1948\nOther miscellaneous income (expense)\t(259)\t354\t(111)\t546\nTotal other income (expense) net\t5251\t1972\t8134\t(813)\n", "q10k_tbl_55": "\tThree Months Ended December 31\t\tSix Months Ended December 31\t\n\t2020\t2019\t2020\t2019\nBasic earnings (loss) per share\t\t\t\t\nNet income (loss) attributable to OpenText\t(65477)\t107467\t37899\t181868\nBasic earnings (loss) per share attributable to OpenText\t(0.24)\t0.40\t0.14\t0.67\nDiluted earnings (loss) per share\t\t\t\t\nNet income (loss) attributable to OpenText\t(65477)\t107467\t37899\t181868\nDiluted earnings (loss) per share attributable to OpenText\t(0.24)\t0.40\t0.14\t0.67\nWeighted-average number of shares outstanding (in '000's)\t\t\t\t\nBasic\t272433\t270450\t272210\t270232\nEffect of dilutive securities\t0\t1140\t809\t1096\nDiluted\t272433\t271590\t273019\t271328\nExcluded as anti-dilutive(1)\t9549\t2541\t5762\t2360\n", "q10k_tbl_56": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nTotal Revenues by Product Type:\t\t\t\t\t\t\nCloud services and subscriptions\t350454\t102114\t248340\t691440\t205835\t485605\nCustomer support\t334492\t18984\t315508\t663891\t36085\t627806\nLicense\t107348\t(30747)\t138095\t175871\t(40122)\t215993\nProfessional service and other\t63350\t(6264)\t69614\t128455\t(10586)\t139041\nTotal revenues\t855644\t84087\t771557\t1659657\t191212\t1468445\nTotal Cost of Revenues\t252562\t20177\t232385\t501487\t40594\t460893\nTotal GAAP-based Gross Profit\t603082\t63910\t539172\t1158170\t150618\t1007552\nTotal GAAP-based Gross Margin %\t70.5%\t\t69.9%\t69.8%\t\t68.6%\nTotal GAAP-based Operating Expenses\t368612\t14180\t354432\t741344\t51045\t690299\nTotal GAAP-based Income from Operations\t234470\t49730\t184740\t416826\t99573\t317253\n% Revenues by Product Type:\t\t\t\t\t\t\nCloud services and subscriptions\t41.0%\t\t32.2%\t41.7%\t\t33.1%\nCustomer support\t39.1%\t\t40.9%\t40.0%\t\t42.8%\nLicense\t12.5%\t\t17.9%\t10.6%\t\t14.7%\nProfessional service and other\t7.4%\t\t9.0%\t7.7%\t\t9.4%\nTotal Cost of Revenues by Product Type:\t\t\t\t\t\t\nCloud services and subscriptions\t117882\t14238\t103644\t230506\t24700\t205806\nCustomer support\t29668\t(120)\t29788\t58862\t(313)\t59175\nLicense\t4302\t1252\t3050\t6791\t1418\t5373\nProfessional service and other\t46619\t(6985)\t53604\t93200\t(14742)\t107942\nAmortization of acquired technology-based intangible assets\t54091\t11792\t42299\t112128\t29531\t82597\nTotal cost of revenues\t252562\t20177\t232385\t501487\t40594\t460893\n% GAAP-based Gross Margin by Product Type:\t\t\t\t\t\t\nCloud services and subscriptions\t66.4%\t\t58.3%\t66.7%\t\t57.6%\nCustomer support\t91.1%\t\t90.6%\t91.1%\t\t90.6%\nLicense\t96.0%\t\t97.8%\t96.1%\t\t97.5%\nProfessional service and other\t26.4%\t\t23.0%\t27.4%\t\t22.4%\nTotal Revenues by Geography:(1)\t\t\t\t\t\t\nAmericas (2)\t516852\t66161\t450691\t1025508\t155107\t870401\nEMEA (3)\t271021\t18753\t252268\t496956\t34521\t462435\nAsia Pacific (4)\t67771\t(827)\t68598\t137193\t1584\t135609\nTotal revenues\t855644\t84087\t771557\t1659657\t191212\t1468445\n% Revenues by Geography:\t\t\t\t\t\t\nAmericas (2)\t60.4%\t\t58.4%\t61.8%\t\t59.3%\nEMEA (3)\t31.7%\t\t32.7%\t29.9%\t\t31.5%\nAsia Pacific (4)\t7.9%\t\t8.9%\t8.3%\t\t9.2%\nOther Metrics:\t\t\t\t\t\t\nGAAP-based gross margin\t70.5%\t\t69.9%\t69.8%\t\t68.6%\nGAAP-based earnings (loss) per share diluted\t(0.24)\t\t0.40\t0.14\t\t0.67\nNet income (loss) attributable to OpenText\t(65477)\t\t107467\t37899\t\t181868\nNon-GAAP-based gross margin (5)\t77.1%\t\t75.5%\t76.8%\t\t74.4%\nNon-GAAP-based EPS diluted (5)\t0.95\t\t0.84\t1.84\t\t1.48\nAdjusted EBITDA (5)\t360755\t\t317015\t703094\t\t571227\n", "q10k_tbl_57": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nCloud Services and Subscriptions:\t\t\t\t\t\t\nAmericas\t260147\t89628\t170519\t515702\t178627\t337075\nEMEA\t64523\t8469\t56054\t125578\t21081\t104497\nAsia Pacific\t25784\t4017\t21767\t50160\t6127\t44033\nTotal Cloud Services and Subscriptions Revenues\t350454\t102114\t248340\t691440\t205835\t485605\nCost of Cloud Services and Subscriptions Revenues\t117882\t14238\t103644\t230506\t24700\t205806\nGAAP-based Cloud Services and Subscriptions Gross Profit\t232572\t87876\t144696\t460934\t181135\t279799\nGAAP-based Cloud Services and Subscriptions Gross Margin %\t66.4%\t\t58.3%\t66.7%\t\t57.6%\n% Cloud Services and Subscriptions Revenues by Geography:\t\t\t\t\t\t\nAmericas\t74.2%\t\t68.7%\t74.6%\t\t69.4%\nEMEA\t18.4%\t\t22.5%\t18.2%\t\t21.5%\nAsia Pacific\t7.4%\t\t8.8%\t7.2%\t\t9.1%\n", "q10k_tbl_58": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nCustomer Support Revenues:\t\t\t\t\t\t\nAmericas\t186934\t5371\t181563\t374025\t13019\t361006\nEMEA\t120285\t12157\t108128\t236015\t20940\t215075\nAsia Pacific\t27273\t1456\t25817\t53851\t2126\t51725\nTotal Customer Support Revenues\t334492\t18984\t315508\t663891\t36085\t627806\nCost of Customer Support Revenues\t29668\t(120)\t29788\t58862\t(313)\t59175\nGAAP-based Customer Support Gross Profit\t304824\t19104\t285720\t605029\t36398\t568631\nGAAP-based Customer Support Gross Margin %\t91.1%\t\t90.6%\t91.1%\t\t90.6%\n% Customer Support Revenues by Geography:\t\t\t\t\t\t\nAmericas\t55.9%\t\t57.5%\t56.3%\t\t57.5%\nEMEA\t36.0%\t\t34.3%\t35.6%\t\t34.3%\nAsia Pacific\t8.1%\t\t8.2%\t8.1%\t\t8.2%\n", "q10k_tbl_59": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nLicense Revenues:\t\t\t\t\t\t\nAmericas\t42340\t(23921)\t66261\t76066\t(29431)\t105497\nEMEA\t57013\t(1088)\t58101\t80143\t(4650)\t84793\nAsia Pacific\t7995\t(5738)\t13733\t19662\t(6041)\t25703\nTotal License Revenues\t107348\t(30747)\t138095\t175871\t(40122)\t215993\nCost of License Revenues\t4302\t1252\t3050\t6791\t1418\t5373\nGAAP-based License Gross Profit\t103046\t(31999)\t135045\t169080\t(41540)\t210620\nGAAP-based License Gross Margin %\t96.0%\t\t97.8%\t96.1%\t\t97.5%\n% License Revenues by Geography:\t\t\t\t\t\t\nAmericas\t39.4%\t\t48.0%\t43.3%\t\t48.8%\nEMEA\t53.1%\t\t42.1%\t45.6%\t\t39.3%\nAsia Pacific\t7.5%\t\t9.9%\t11.1%\t\t11.9%\n", "q10k_tbl_60": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nProfessional Service and Other Revenues:\t\t\t\t\t\t\nAmericas\t27431\t(4917)\t32348\t59715\t(7108)\t66823\nEMEA\t29200\t(785)\t29985\t55220\t(2850)\t58070\nAsia Pacific\t6719\t(562)\t7281\t13520\t(628)\t14148\nTotal Professional Service and Other Revenues\t63350\t(6264)\t69614\t128455\t(10586)\t139041\nCost of Professional Service and Other Revenues\t46619\t(6985)\t53604\t93200\t(14742)\t107942\nGAAP-based Professional Service and Other Gross Profit\t16731\t721\t16010\t35255\t4156\t31099\nGAAP-based Professional Service and Other Gross Margin %\t26.4%\t\t23.0%\t27.4%\t\t22.4%\n% Professional Service and Other Revenues by Geography:\t\t\t\t\t\t\nAmericas\t43.3%\t\t46.5%\t46.5%\t\t48.1%\nEMEA\t46.1%\t\t43.1%\t43.0%\t\t41.8%\nAsia Pacific\t10.6%\t\t10.4%\t10.5%\t\t10.1%\n", "q10k_tbl_61": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nAmortization of acquired technology-based intangible assets\t54091\t11792\t42299\t112128\t29531\t82597\n", "q10k_tbl_62": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nResearch and development\t100238\t19955\t80283\t194141\t32680\t161461\nSales and marketing\t147897\t10587\t137310\t280297\t14369\t265928\nGeneral and administrative\t62765\t8170\t54595\t118954\t12824\t106130\nDepreciation\t20280\t(432)\t20712\t42283\t1294\t40989\nAmortization of acquired customer-based intangible assets\t54926\t3466\t51460\t109919\t9301\t100618\nSpecial charges (recoveries)\t(17494)\t(27566)\t10072\t(4250)\t(19423)\t15173\nTotal operating expenses\t368612\t14180\t354432\t741344\t51045\t690299\n% of Total Revenues:\t\t\t\t\t\t\nResearch and development\t11.7%\t\t10.4%\t11.7%\t\t11.0%\nSales and marketing\t17.3%\t\t17.8%\t16.9%\t\t18.1%\nGeneral and administrative\t7.3%\t\t7.1%\t7.2%\t\t7.2%\nDepreciation\t2.4%\t\t2.7%\t2.5%\t\t2.8%\nAmortization of acquired customer-based intangible assets\t6.4%\t\t6.7%\t6.6%\t\t6.9%\nSpecial charges (recoveries)\t(2.0)%\t\t1.3%\t(0.3)%\t\t1.0%\n", "q10k_tbl_63": "\tChange between Three Months Ended December 31 2020 and 2019\tChange between Six Months Ended December 31 2020 and 2019\n(In thousands)\tincrease (decrease)\tincrease (decrease)\nPayroll and payroll-related benefits\t14410\t22380\nContract labour and consulting\t216\t116\nShare-based compensation\t1452\t2573\nTravel and communication\t(382)\t(615)\nFacilities\t3564\t7250\nOther miscellaneous\t695\t976\nTotal change in research and development expenses\t19955\t32680\n", "q10k_tbl_64": "\tChange between Three Months Ended December 31 2020 and 2019\tChange between Six Months Ended December 31 2020 and 2019\n(In thousands)\tincrease (decrease)\tincrease (decrease)\nPayroll and payroll-related benefits\t6301\t11830\nCommissions\t(1220)\t(2134)\nContract labour and consulting\t146\t177\nShare-based compensation\t2574\t4515\nTravel and communication\t(4404)\t(8960)\nMarketing expenses\t6228\t5639\nFacilities\t727\t2265\nBad debt expense\t(92)\t(522)\nOther miscellaneous\t327\t1559\nTotal change in sales and marketing expenses\t10587\t14369\n", "q10k_tbl_65": "\tChange between Three Months Ended December 31 2020 and 2019\tChange between Six Months Ended December 31 2020 and 2019\n(In thousands)\tincrease (decrease)\tincrease (decrease)\nPayroll and payroll-related benefits\t4883\t6182\nContract labour and consulting\t(28)\t19\nShare-based compensation\t1423\t2353\nTravel and communication\t(1324)\t(2446)\nFacilities\t(1713)\t(1637)\nOther miscellaneous\t4929\t8353\nTotal change in general and administrative expenses\t8170\t12824\n", "q10k_tbl_66": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nDepreciation\t20280\t(432)\t20712\t42283\t1294\t40989\n", "q10k_tbl_67": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nAmortization of acquired customer-based intangible assets\t54926\t3466\t51460\t109919\t9301\t100618\n", "q10k_tbl_68": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nSpecial charges (recoveries)\t(17494)\t(27566)\t10072\t(4250)\t(19423)\t15173\n", "q10k_tbl_69": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nForeign exchange gains (losses)\t3476\t3124\t352\t(10)\t3297\t(3307)\nOpenText share in net income (loss) of equity investees (note 9)\t2034\t768\t1266\t8255\t6307\t1948\nOther miscellaneous income (expense)\t(259)\t(613)\t354\t(111)\t(657)\t546\nTotal other income (expense) net\t5251\t3279\t1972\t8134\t8947\t(813)\n", "q10k_tbl_70": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nInterest expense related to total outstanding debt (1)\t36311\t2533\t33778\t74452\t6508\t67944\nInterest income\t(1127)\t2347\t(3474)\t(2336)\t5087\t(7423)\nOther miscellaneous expense\t2411\t339\t2072\t4568\t503\t4065\nTotal interest and other related expense net\t37595\t5219\t32376\t76684\t12098\t64586\n", "q10k_tbl_71": "\tThree Months Ended December 31\t\t\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange increase (decrease)\t2019\t2020\tChange increase (decrease)\t2019\nProvision for (recovery of) income taxes\t267559\t220741\t46818\t310303\t240394\t69909\n", "q10k_tbl_72": "\tThree Months Ended December 31 2020\t\t\t\t\t\n\tGAAP-based Measures\tGAAP-based Measures % of Total Revenue\tAdjustments\tNote\tNon-GAAP-based Measures\tNon-GAAP-based Measures % of Total Revenue\nCost of revenues\t\t\t\t\t\t\nCloud services and subscriptions\t117882\t\t(1143)\t(1)\t116739\t\nCustomer support\t29668\t\t(499)\t(1)\t29169\t\nProfessional service and other\t46619\t\t(666)\t(1)\t45953\t\nAmortization of acquired technology-based intangible assets\t54091\t\t(54091)\t(2)\t0\t\nGAAP-based gross profit and gross margin (%) / Non-GAAP-based gross profit and gross margin (%)\t603082\t70.5%\t56399\t(3)\t659481\t77.1%\nOperating expenses\t\t\t\t\t\t\nResearch and development\t100238\t\t(2707)\t(1)\t97531\t\nSales and marketing\t147897\t\t(4957)\t(1)\t142940\t\nGeneral and administrative\t62765\t\t(4554)\t(1)\t58211\t\nAmortization of acquired customer-based intangible assets\t54926\t\t(54926)\t(2)\t0\t\nSpecial charges (recoveries)\t(17494)\t\t17494\t(4)\t0\t\nGAAP-based income from operations / Non-GAAP-based income from operations\t234470\t\t106049\t(5)\t340519\t\nOther income (expense) net\t5251\t\t(5251)\t(6)\t0\t\nProvision for (recovery of) income taxes\t267559\t\t(225150)\t(7)\t42409\t\nGAAP-based net income (loss) / Non-GAAP-based net income attributable to OpenText\t(65477)\t\t325948\t(8)\t260471\t\nGAAP-based earnings (loss) per share / Non-GAAP-based earnings per share-diluted attributable to OpenText\t(0.24)\t\t1.19\t(8)\t0.95\t\n", "q10k_tbl_73": "(1)\tAdjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results.\n(2)\tAdjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results.\n(3)\tGAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue.\n(4)\tAdjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. See note 18 \"Special charges (recoveries)\" to our Condensed Consolidated Financial Statements for more details.\n(5)\tGAAP-based and Non-GAAP-based income from operations stated in dollars.\n(6)\tAdjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results.\n(7)\tAdjustment relates to differences between the GAAP-based tax provision rate of approximately 132% and a Non-GAAP-based tax rate of approximately 14%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based adjusted net income. Such excluded items include amortization share-based compensation special charges (recoveries) and other income (expense) net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and \"book to return\" adjustments for tax return filings and tax assessments. Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. In arriving at our Non-GAAP-based tax rate of approximately 14% we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. The GAAP-based tax provision rate for the three months ended December 31 2020 includes an income tax provision charge from the IRS Settlement partially offset by a tax benefit from the release of unrecognized tax benefits due to the conclusion of relevant tax audits.\n", "q10k_tbl_74": "\tThree Months Ended December 31 2020\t\n\t\tPer share diluted*\nGAAP-based net loss attributable to OpenText\t(65477)\t(0.24)\nAdd:\t\t\nAmortization\t109017\t0.40\nShare-based compensation\t14526\t0.05\nSpecial charges (recoveries)\t(17494)\t(0.06)\nOther (income) expense net\t(5251)\t(0.02)\nGAAP-based provision for (recovery of) income taxes\t267559\t0.98\nNon-GAAP-based provision for income taxes\t(42409)\t(0.16)\nNon-GAAP-based net income attributable to OpenText\t260471\t0.95\n*Weighted average number of Common Shares - diluted (in thousands) used in the calculation of Non-GAAP-based earnings per share for the three months ended December 31 2020 were 273183.\t\t\n", "q10k_tbl_75": "\tThree Months Ended December 31 2020\nGAAP-based net loss attributable to OpenText\t(65477)\nAdd:\t\nProvision for (recovery of) income taxes\t267559\nInterest and other related expense net\t37595\nAmortization of acquired technology-based intangible assets\t54091\nAmortization of acquired customer-based intangible assets\t54926\nDepreciation\t20280\nShare-based compensation\t14526\nSpecial charges (recoveries)\t(17494)\nOther (income) expense net\t(5251)\nAdjusted EBITDA\t360755\n", "q10k_tbl_76": "\tThree Months Ended December 31 2019\t\t\t\t\t\n\tGAAP-based Measures\tGAAP-based Measures % of Total Revenue\tAdjustments\tNote\tNon-GAAP-based Measures\tNon-GAAP-based Measures % of Total Revenue\nCost of revenues\t\t\t\t\t\t\nCloud services and subscriptions\t103644\t\t(371)\t(1)\t103273\t\nCustomer support\t29788\t\t(297)\t(1)\t29491\t\nProfessional service and other\t53604\t\t(346)\t(1)\t53258\t\nAmortization of acquired technology-based intangible assets\t42299\t\t(42299)\t(2)\t0\t\nGAAP-based gross profit and gross margin (%) / Non-GAAP-based gross profit and gross margin (%)\t539172\t69.9%\t43313\t(3)\t582485\t75.5%\nOperating expenses\t\t\t\t\t\t\nResearch and development\t80283\t\t(1255)\t(1)\t79028\t\nSales and marketing\t137310\t\t(2383)\t(1)\t134927\t\nGeneral and administrative\t54595\t\t(3131)\t(1)\t51464\t\nAmortization of acquired customer-based intangible assets\t51460\t\t(51460)\t(2)\t0\t\nSpecial charges (recoveries)\t10072\t\t(10072)\t(4)\t0\t\nGAAP-based income from operations / Non-GAAP-based income from operations\t184740\t\t111614\t(5)\t296354\t\nOther income (expense) net\t1972\t\t(1972)\t(6)\t0\t\nProvision for (recovery of) income taxes\t46818\t\t(9861)\t(7)\t36957\t\nGAAP-based net income / Non-GAAP-based net income attributable to OpenText\t107467\t\t119503\t(8)\t226970\t\nGAAP-based earnings per share / Non-GAAP-based earnings per share-diluted attributable to OpenText\t0.40\t\t0.44\t(8)\t0.84\t\n", "q10k_tbl_77": "\tThree Months Ended December 31 2019\t\n\t\tPer share diluted\nGAAP-based net income attributable to OpenText\t107467\t0.40\nAdd:\t\t\nAmortization\t93759\t0.35\nShare-based compensation\t7783\t0.03\nSpecial charges (recoveries)\t10072\t0.04\nOther (income) expense net\t(1972)\t(0.01)\nGAAP-based provision for (recovery of) income taxes\t46818\t0.17\nNon-GAAP-based provision for income taxes\t(36957)\t(0.14)\nNon-GAAP-based net income attributable to OpenText\t226970\t0.84\n", "q10k_tbl_78": "\tThree Months Ended December 31 2019\nGAAP-based net income attributable to OpenText\t107467\nAdd:\t\nProvision for (recovery of) income taxes\t46818\nInterest and other related expense net\t32376\nAmortization of acquired technology-based intangible assets\t42299\nAmortization of acquired customer-based intangible assets\t51460\nDepreciation\t20712\nShare-based compensation\t7783\nSpecial charges (recoveries)\t10072\nOther (income) expense net\t(1972)\nAdjusted EBITDA\t317015\n", "q10k_tbl_79": "\tSix Months Ended December 31 2020\t\t\t\t\t\n\tGAAP-based Measures\tGAAP-based Measures % of Total Revenue\tAdjustments\tNote\tNon-GAAP-based Measures\tNon-GAAP-based Measures % of Total Revenue\nCost of revenues\t\t\t\t\t\t\nCloud services and subscriptions\t230506\t\t(1979)\t(1)\t228527\t\nCustomer support\t58862\t\t(941)\t(1)\t57921\t\nProfessional service and other\t93200\t\t(1183)\t(1)\t92017\t\nAmortization of acquired technology-based intangible assets\t112128\t\t(112128)\t(2)\t0\t\nGAAP-based gross profit and gross margin (%) / Non-GAAP-based gross profit and gross margin (%)\t1158170\t69.8%\t116231\t(3)\t1274401\t76.8%\nOperating expenses\t\t\t\t\t\t\nResearch and development\t194141\t\t(5049)\t(1)\t189092\t\nSales and marketing\t280297\t\t(9014)\t(1)\t271283\t\nGeneral and administrative\t118954\t\t(8096)\t(1)\t110858\t\nAmortization of acquired customer-based intangible assets\t109919\t\t(109919)\t(2)\t0\t\nSpecial charges (recoveries)\t(4250)\t\t4250\t(4)\t0\t\nGAAP-based income from operations / Non-GAAP-based income from operations\t416826\t\t244059\t(5)\t660885\t\nOther income (expense) net\t8134\t\t(8134)\t(6)\t0\t\nProvision for (recovery of) income taxes\t310303\t\t(228515)\t(7)\t81788\t\nGAAP-based net income / Non-GAAP-based net income attributable to OpenText\t37899\t\t464440\t(8)\t502339\t\nGAAP-based earnings per share / Non-GAAP-based earnings per share-diluted attributable to OpenText\t0.14\t\t1.70\t(8)\t1.84\t\n", "q10k_tbl_80": "(1)\tAdjustment relates to the exclusion of share-based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results.\n(2)\tAdjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results.\n(3)\tGAAP-based and Non-GAAP-based gross profit stated in dollars and gross margin stated as a percentage of total revenue.\n(4)\tAdjustment relates to the exclusion of special charges (recoveries) from our Non-GAAP-based operating expenses as special charges (recoveries) are generally incurred in the periods relevant to an acquisition and include certain charges or recoveries that are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results. See note 18 \"Special charges (recoveries)\" to our Condensed Consolidated Financial Statements for more details.\n(5)\tGAAP-based and Non-GAAP-based income from operations stated in dollars.\n(6)\tAdjustment relates to the exclusion of other income (expense) from our Non-GAAP-based operating expenses as other income (expense) generally relates to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results. Other income (expense) also includes our share of income (losses) from our holdings in investments as a limited partner. We do not actively trade equity securities in these privately held companies nor do we plan our ongoing operations based around any anticipated fundings or distributions from these investments. We exclude gains and losses on these investments as we do not believe they are reflective of our ongoing business and operating results.\n(7)\tAdjustment relates to differences between the GAAP-based tax provision rate of approximately 89% and a Non-GAAP-based tax rate of approximately 14%; these rate differences are due to the income tax effects of items that are excluded for the purpose of calculating Non-GAAP-based adjusted net income. Such excluded items include amortization share-based compensation special charges (recoveries) and other income (expense) net. Also excluded are tax benefits/expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves and \"book to return\" adjustments for tax return filings and tax assessments. Included is the amount of net tax benefits arising from the internal reorganization that occurred in Fiscal 2017 assumed to be allocable to the current period based on the forecasted utilization period. In arriving at our Non-GAAP-based tax rate of approximately 14% we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense. The GAAP-based tax provision rate for the six months ended December 31 2020 includes an income tax provision charge from the IRS Settlement partially offset by a tax benefit from the release of unrecognized tax benefits due to the conclusion of relevant tax audits.\n", "q10k_tbl_81": "\tSix Months Ended December 31 2020\t\n\t\tPer share diluted\nGAAP-based net income attributable to OpenText\t37899\t0.14\nAdd:\t\t\nAmortization\t222047\t0.81\nShare-based compensation\t26262\t0.10\nSpecial charges (recoveries)\t(4250)\t(0.02)\nOther (income) expense net\t(8134)\t(0.03)\nGAAP-based provision for (recovery of) income taxes\t310303\t1.14\nNon-GAAP-based provision for income taxes\t(81788)\t(0.30)\nNon-GAAP-based net income attributable to OpenText\t502339\t1.84\n", "q10k_tbl_82": "\tSix Months Ended December 31 2020\nGAAP-based net income attributable to OpenText\t37899\nAdd:\t\nProvision for (recovery of) income taxes\t310303\nInterest and other related expense net\t76684\nAmortization of acquired technology-based intangible assets\t112128\nAmortization of acquired customer-based intangible assets\t109919\nDepreciation\t42283\nShare-based compensation\t26262\nSpecial charges (recoveries)\t(4250)\nOther (income) expense net\t(8134)\nAdjusted EBITDA\t703094\n", "q10k_tbl_83": "\tSix Months Ended December 31 2019\t\t\t\t\t\n\tGAAP-based Measures\tGAAP-based Measures % of Total Revenue\tAdjustments\tNote\tNon-GAAP-based Measures\tNon-GAAP-based Measures % of Total Revenue\nCost of revenues\t\t\t\t\t\t\nCloud services and subscriptions\t205806\t\t(754)\t(1)\t205052\t\nCustomer support\t59175\t\t(613)\t(1)\t58562\t\nProfessional service and other\t107942\t\t(589)\t(1)\t107353\t\nAmortization of acquired technology-based intangible assets\t82597\t\t(82597)\t(2)\t0\t\nGAAP-based gross profit and gross margin (%) / Non-GAAP-based gross profit and gross margin (%)\t1007552\t68.6%\t84553\t(3)\t1092105\t74.4%\nOperating expenses\t\t\t\t\t\t\nResearch and development\t161461\t\t(2476)\t(1)\t158985\t\nSales and marketing\t265928\t\t(4499)\t(1)\t261429\t\nGeneral and administrative\t106130\t\t(5743)\t(1)\t100387\t\nAmortization of acquired customer-based intangible assets\t100618\t\t(100618)\t(2)\t0\t\nSpecial charges (recoveries)\t15173\t\t(15173)\t(4)\t0\t\nGAAP-based income from operations / Non-GAAP-based income from operations\t317253\t\t213062\t(5)\t530315\t\nOther income (expense) net\t(813)\t\t813\t(6)\t0\t\nProvision for (recovery of) income taxes\t69909\t\t(4707)\t(7)\t65202\t\nGAAP-based net income / Non-GAAP-based net income attributable to OpenText\t181868\t\t218582\t(8)\t400450\t\nGAAP-based earnings per share / Non-GAAP-based earnings per share-diluted attributable to OpenText\t0.67\t\t0.81\t(8)\t1.48\t\n", "q10k_tbl_84": "\tSix Months Ended December 31 2019\t\n\t\tPer share diluted\nGAAP-based net income attributable to OpenText\t181868\t0.67\nAdd:\t\t\nAmortization\t183215\t0.68\nShare-based compensation\t14674\t0.05\nSpecial charges (recoveries)\t15173\t0.06\nOther (income) expense net\t813\t0\nGAAP-based provision for (recovery of) income taxes\t69909\t0.26\nNon-GAAP-based provision for income taxes\t(65202)\t(0.24)\nNon-GAAP-based net income attributable to OpenText\t400450\t1.48\n", "q10k_tbl_85": "\tSix Months Ended December 31 2019\nGAAP-based net income attributable to OpenText\t181868\nAdd:\t\nProvision for (recovery of) income taxes\t69909\nInterest and other related expense net\t64586\nAmortization of acquired technology-based intangible assets\t82597\nAmortization of acquired customer-based intangible assets\t100618\nDepreciation\t40989\nShare-based compensation\t14674\nSpecial charges (recoveries)\t15173\nOther (income) expense net\t813\nAdjusted EBITDA\t571227\n", "q10k_tbl_86": "(In thousands)\tAs of December 31 2020\tChange increase (decrease)\tAs of June 30 2020\nCash and cash equivalents\t1500561\t(192289)\t1692850\nRestricted cash (1)\t3117\t(1296)\t4413\nTotal cash cash equivalents and restricted cash\t1503678\t(193585)\t1697263\n(1) Restricted cash is classified under the Prepaid expenses and other current assets and Other assets line items on the Condensed Consolidated Balance Sheets.\t\t\t\n", "q10k_tbl_87": "\tSix Months Ended December 31\t\t\n(In thousands)\t2020\tChange\t2019\nCash provided by operating activities\t516359\t171674\t344685\nCash used in investing activities\t(24253)\t1240288\t(1264541)\nCash provided by (used in) financing activities\t(719462)\t(1380078)\t660616\n", "q10k_tbl_88": "\tFiscal years ending June 30\t\t\n\tCDT\tGXS GER\tGXS PHP\n2021 (six months ended)\t419\t508\t144\n2022\t905\t1047\t325\n2023\t1007\t1047\t239\n2024\t1117\t1054\t297\n2025\t1166\t1085\t348\n2026 to 2030\t6693\t5318\t3290\nTotal\t11307\t10059\t4643\n", "q10k_tbl_89": "\tPayments due between\t\t\t\t\n\tTotal\tJanuary 1 2021 - June 30 2021\tJuly 1 2021 - June 30 2023\tJuly 1 2023 - June 30 2025\tJuly 1 2025 and beyond\nLong-term debt obligations (1)\t4592179\t75225\t300727\t1226039\t2990188\nOperating lease obligations (2)\t313216\t34501\t117032\t71304\t90379\nPurchase obligations for contracts not accounted for as lease obligations\t97173\t35684\t61489\t0\t0\n\t5002568\t145410\t479248\t1297343\t3080567\n", "q10k_tbl_90": "(In thousands)\tU.S. Dollar Equivalent at December 31 2020\tU.S. Dollar Equivalent at June 30 2020\nEuro\t243958\t229579\nBritish Pound\t108228\t64865\nCanadian Dollar\t11098\t20311\nSwiss Franc\t35958\t43365\nOther foreign currencies\t111165\t93292\nTotal cash and cash equivalents denominated in foreign currencies\t510407\t451412\nU.S. dollar\t990154\t1241438\nTotal cash and cash equivalents\t1500561\t1692850\n", "q10k_tbl_91": "Exhibit Number\tDescription of Exhibit\n4.1\tOpen Text Corporation 2004 Stock Option Plan as amended and restated on September 14 2020 (1)\n4.2\tOpen Text Corporation 2004 Employee Stock Purchase Plan as amended and restated on September 14 2020 (1)\n10.1*\tAmendment No. 4 to the Employment Agreement between Mark J. Barrenechea and the Company dated August 14 2020 (amending the Employment Agreement between Mark J. Barrenechea and the Company dated October 30 2012 as amended). (2)\n31.1\tCertification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Exchange Act as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2\tCertification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1\tCertification of the Chief Executive Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n32.2\tCertification of the Chief Financial Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101.INS\tXBRL instance document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tInline XBRL taxonomy extension schema.\n101.CAL\tInline XBRL taxonomy extension calculation linkbase.\n101.DEF\tInline XBRL taxonomy extension definition linkbase.\n101.LAB\tInline XBRL taxonomy extension label linkbase.\n101.PRE\tInline XBRL taxonomy extension presentation.\n"}{"bs": "q10k_tbl_1", "is": "q10k_tbl_2", "cf": "q10k_tbl_8"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2020.
OR
☐
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: 0-27544
______________________________________
OPEN TEXT CORPORATION
(Exact name of Registrant as specified in its charter)
______________________
Canada
98-0154400
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
275 Frank Tompa Drive,
N2L 0A1
Waterloo,
Ontario
Canada
(Address of principal executive offices)
(Zip code)
Registrant's telephone number, including area code: (519) 888-7111
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 without par value
OTEX
NASDAQ Global Select Market
Securities registered pursuant to Section 12(g) of the Act:
None
(Title of Class)
______________________________________
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 and posted pursuant to Rule 405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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 pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
At February 2, 2021, there were 272,786,642 outstanding Common Shares of the registrant.
1
OPEN TEXT CORPORATION
TABLE OF CONTENTS
Page No
Part I Financial Information
Item 1. Financial Statements
Condensed Consolidated Balance Sheets as of December 31, 2020 (unaudited) and June 30, 2020
Accounts receivable trade, net of allowance for credit losses of $22,845 as of December 31, 2020 and $20,906 as of June 30, 2020 (note 1 and note 4)
445,841
466,357
Contract assets (note 3)
27,460
29,570
Income taxes recoverable (note 15)
24,517
61,186
Prepaid expenses and other current assets
130,177
136,436
Total current assets
2,128,556
2,386,399
Property and equipment (note 5)
227,434
244,555
Operating lease right of use assets (note 6)
235,142
207,869
Long-term contract assets (note 3)
18,175
15,427
Goodwill (note 7)
4,696,349
4,672,356
Acquired intangible assets (note 8)
1,402,928
1,612,564
Deferred tax assets (note 15)
866,788
911,565
Other assets (note 9)
164,238
154,467
Long-term income taxes recoverable (note 15)
29,488
29,620
Total assets
$
9,769,098
$
10,234,822
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities (note 10)
$
348,080
$
373,314
Current portion of long-term debt (note 11)
10,000
610,000
Operating lease liabilities (note 6)
59,874
64,071
Deferred revenues (note 3)
798,340
812,218
Income taxes payable (note 15)
320,084
44,630
Total current liabilities
1,536,378
1,904,233
Long-term liabilities:
Accrued liabilities (note 10)
28,334
34,955
Pension liability (note 12)
83,271
73,129
Long-term debt (note 11)
3,581,565
3,584,311
Long-term operating lease liabilities (note 6)
227,265
217,165
Long-term deferred revenues (note 3)
97,083
94,382
Long-term income taxes payable (note 15)
32,794
171,200
Deferred tax liabilities (note 15)
179,161
148,738
Total long-term liabilities
4,229,473
4,323,880
Shareholders’ equity:
Share capital and additional paid-in capital (note 13)
272,588,542 and 271,863,354 Common Shares issued and outstanding at December 31, 2020 and June 30, 2020, respectively; authorized Common Shares: unlimited
1,889,857
1,851,777
Accumulated other comprehensive income (note 20)
66,476
17,825
Retained earnings
2,093,076
2,159,396
Treasury stock, at cost (1,101,370 and 622,297 shares at December 31, 2020 and June 30, 2020, respectively)
(47,555)
(23,608)
Total OpenText shareholders' equity
4,001,854
4,005,390
Non-controlling interests
1,393
1,319
Total shareholders’ equity
4,003,247
4,006,709
Total liabilities and shareholders’ equity
$
9,769,098
$
10,234,822
Guarantees and contingencies (note 14)
Related party transactions (note 24)
Subsequent event (note 25)
See accompanying Notes to Condensed Consolidated Financial Statements
3
OPEN TEXT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(In thousands of U.S. dollars, except share and per share data)
(unaudited)
Three Months Ended December 31,
Six Months Ended December 31,
2020
2019
2020
2019
Revenues (note 3):
Cloud services and subscriptions
$
350,454
$
248,340
$
691,440
$
485,605
Customer support
334,492
315,508
663,891
627,806
License
107,348
138,095
175,871
215,993
Professional service and other
63,350
69,614
128,455
139,041
Total revenues
855,644
771,557
1,659,657
1,468,445
Cost of revenues:
Cloud services and subscriptions
117,882
103,644
230,506
205,806
Customer support
29,668
29,788
58,862
59,175
License
4,302
3,050
6,791
5,373
Professional service and other
46,619
53,604
93,200
107,942
Amortization of acquired technology-based intangible assets (note 8)
54,091
42,299
112,128
82,597
Total cost of revenues
252,562
232,385
501,487
460,893
Gross profit
603,082
539,172
1,158,170
1,007,552
Operating expenses:
Research and development
100,238
80,283
194,141
161,461
Sales and marketing
147,897
137,310
280,297
265,928
General and administrative
62,765
54,595
118,954
106,130
Depreciation
20,280
20,712
42,283
40,989
Amortization of acquired customer-based intangible assets (note 8)
54,926
51,460
109,919
100,618
Special charges (recoveries) (note 18)
(17,494)
10,072
(4,250)
15,173
Total operating expenses
368,612
354,432
741,344
690,299
Income from operations
234,470
184,740
416,826
317,253
Other income (expense), net (note 22)
5,251
1,972
8,134
(813)
Interest and other related expense, net
(37,595)
(32,376)
(76,684)
(64,586)
Income before income taxes
202,126
154,336
348,276
251,854
Provision for (recovery of) income taxes (note 15)
267,559
46,818
310,303
69,909
Net income (loss) for the period
$
(65,433)
$
107,518
$
37,973
$
181,945
Net (income) loss attributable to non-controlling interests
(44)
(51)
(74)
(77)
Net income (loss) attributable to OpenText
$
(65,477)
$
107,467
$
37,899
$
181,868
Earnings (loss) per share—basic attributable to OpenText (note 23)
$
(0.24)
$
0.40
$
0.14
$
0.67
Earnings (loss) per share—diluted attributable to OpenText (note 23)
$
(0.24)
$
0.40
$
0.14
$
0.67
Weighted average number of Common Shares outstanding—basic (in '000's)
272,433
270,450
272,210
270,232
Weighted average number of Common Shares outstanding—diluted (in '000's)
272,433
271,590
273,019
271,328
See accompanying Notes to Condensed Consolidated Financial Statements
4
OPEN TEXT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In thousands of U.S. dollars)
(unaudited)
Three Months Ended December 31,
Six Months Ended December 31,
2020
2019
2020
2019
Net income (loss) for the period
$
(65,433)
$
107,518
$
37,973
$
181,945
Other comprehensive income (loss)—net of tax:
Net foreign currency translation adjustments
26,065
4,875
48,710
(736)
Unrealized gain (loss) on cash flow hedges:
Unrealized gain (loss) - net of tax expense (recovery) effect of $751 and $301 for the three months ended December 31, 2020 and 2019, respectively; $1,056 and $95 for the six months ended December 31, 2020 and 2019, respectively
2,082
833
2,927
261
(Gain) loss reclassified into net income (loss) - net of tax (expense) recovery effect of ($227) and ($26) for the three months ended December 31, 2020 and 2019, respectively; ($283) and ($23) for the six months ended December 31, 2020 and 2019, respectively
(628)
(72)
(784)
(64)
Actuarial gain (loss) relating to defined benefit pension plans:
Actuarial gain (loss) - net of tax expense (recovery) effect of ($441) and $1,308 for the three months ended December 31, 2020 and 2019, respectively; ($1,357) and $59 for the six months ended December 31, 2020 and 2019, respectively
(981)
3,698
(2,686)
614
Amortization of actuarial (gain) loss into net income (loss) - net of tax (expense) recovery effect of $93 and $97 for the three months ended December 31, 2020 and 2019, respectively; $180 and $243 for the six months ended December 31, 2020 and 2019, respectively
243
260
484
491
Total other comprehensive income (loss) net, for the period
26,781
9,594
48,651
566
Total comprehensive income (loss)
(38,652)
117,112
86,624
182,511
Comprehensive (income) loss attributable to non-controlling interests
(44)
(51)
(74)
(77)
Total comprehensive income (loss) attributable to OpenText
$
(38,696)
$
117,061
$
86,550
$
182,434
See accompanying Notes to Condensed Consolidated Financial Statements
5
OPEN TEXT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(In thousands of U.S. dollars and shares)
(unaudited)
Three Months Ended December 31, 2020
Common Shares and Additional Paid in Capital
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income
Non-Controlling Interests
Total
Shares
Amount
Shares
Amount
Balance as of September 30, 2020
272,174
$
1,872,411
(1,394)
$
(58,788)
$
2,213,053
$
39,695
$
1,349
$
4,067,720
Issuance of Common Shares
Under employee stock option plans
213
6,893
—
—
—
—
—
6,893
Under employee stock purchase plans
202
7,260
—
—
—
—
—
7,260
Share-based compensation
—
14,526
—
—
—
—
—
14,526
Issuance of treasury stock
—
(11,233)
293
11,233
—
—
—
—
Dividends declared
($0.2008 per Common Share)
—
—
—
—
(54,500)
—
—
(54,500)
Other comprehensive income - net
—
—
—
—
—
26,781
—
26,781
Net income (loss) for the quarter
—
—
—
—
(65,477)
—
44
(65,433)
Balance as of December 31, 2020
272,589
$
1,889,857
(1,101)
$
(47,555)
$
2,093,076
$
66,476
$
1,393
$
4,003,247
Three Months Ended December 31, 2019
Common Shares and Additional Paid in Capital
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income
Non-Controlling Interests
Total
Shares
Amount
Shares
Amount
Balance as of September 30, 2019
270,190
$
1,791,689
(1,103)
$
(41,190)
$
2,141,278
$
15,096
$
1,241
$
3,908,114
Issuance of Common Shares
Under employee stock option plans
231
6,783
—
—
—
—
—
6,783
Under employee stock purchase plans
188
6,532
—
—
—
—
—
6,532
Share-based compensation
—
7,783
—
—
—
—
—
7,783
Issuance of treasury stock
—
(9,124)
256
9,124
—
—
—
—
Dividends declared
($0.1746 per Common Share)
—
—
—
—
(47,092)
—
—
(47,092)
Other comprehensive income - net
—
—
—
—
—
9,594
—
9,594
Net income for the quarter
—
—
—
—
107,467
—
51
107,518
Balance as of December 31, 2019
270,609
$
1,803,663
(847)
$
(32,066)
$
2,201,653
$
24,690
$
1,292
$
3,999,232
6
Six Months Ended December 31, 2020
Common Shares and Additional Paid in Capital
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income
Non-Controlling Interests
Total
Shares
Amount
Shares
Amount
Balance as of June 30, 2020
271,863
$
1,851,777
(622)
$
(23,608)
$
2,159,396
$
17,825
$
1,319
$
4,006,709
Adoption of ASU 2016-13 - cumulative effect, net (note 1)