0001628280-21-003727 | 10-K | XBRL Viewer

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Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39548
Entity Registrant Name	BENTLEY SYSTEMS, INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3936623
Entity Address, Address Line One	685 Stockton Drive
Entity Address, City or Town	Exton
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19341
City Area Code	610
Local Phone Number	458-5000
Title of 12(b) Security	Class B Common Stock, par value $0.01 per share
Trading Symbol	BSY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 0
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the proxy statement for registrant’s Annual Meeting of Stockholders (the “Proxy Statement”) are incorporated by reference in Part III of this Form 10‑K to the extent stated herein. The Proxy Statement will be filed within 120 days of the registrant’s fiscal year ended December 31, 2020.
Entity Central Index Key	0001031308
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		11,601,757
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		261,617,330

Consolidated Balance Sheets (Statement) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 122,006	$ 121,101
Accounts receivable	195,782	211,775
Allowance for doubtful accounts	(5,759)	(7,274)
Prepaid income taxes	3,535	4,543
Prepaid and other current assets	24,694	23,413
Total current assets	340,258	353,558
Property and equipment, net	28,414	29,632
Operating lease right-of-use assets	46,128	0
Intangible assets, net	45,627	46,313
Goodwill	581,174	480,065
Investments	5,691	1,725
Deferred income taxes	39,224	51,068
Other assets	39,519	32,238
Total assets	1,126,035	994,599
Current liabilities:
Accounts payable	16,492	17,669
Accruals and other current liabilities	226,793	167,517
Deferred revenues	202,294	204,991
Operating lease liabilities	16,610	0
Income taxes payable	3,366	2,236
Total current liabilities	465,555	392,413
Long-term debt	246,000	233,750
Long-term operating lease liabilities	31,767	0
Deferred revenues	7,020	8,154
Deferred income taxes	10,849	8,260
Income taxes payable	7,883	8,140
Other liabilities	15,362	9,263
Total liabilities	784,436	659,980
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, authorized 100,000,000 shares; none issued or outstanding as of December 31, 2020 and 2019	0	0
Class A Common Stock, $0.01 par value, authorized 100,000,000 shares; issued and outstanding 11,601,757 shares as of December 31, 2020 and 2019, and Class B Common Stock, $0.01 par value, authorized 1,800,000,000 shares; issued and outstanding 260,552,747 and 243,241,192 shares as of December 31, 2020 and 2019, respectively	2,722	2,548
Additional paid-in capital	741,113	408,667
Accumulated other comprehensive loss	(26,233)	(23,927)
Accumulated deficit	(376,003)	(52,669)
Total stockholders’ equity	341,599	334,619
Total liabilities and stockholders’ equity	$ 1,126,035	$ 994,599

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 219,567	$ 202,997	$ 184,290	$ 194,690	$ 202,922	$ 186,588	$ 169,605	$ 177,539	$ 801,544	$ 736,654	$ 691,710
Cost of revenues:
Total cost of revenues									167,155	144,150	131,324
Gross profit	169,004	160,369	147,585	157,431	163,021	151,537	132,974	144,972	634,389	592,504	560,386
Operating expenses:
Research and development									185,515	183,552	175,032
Selling and marketing									143,791	155,294	160,635
General and administrative									113,451	97,580	89,328
Amortization of purchased intangibles	15,352				14,213				15,352	14,213	14,000
Expenses associated with initial public offering									26,130	0	0
Total operating expenses									484,239	450,639	438,995
Income from operations	54,275	5,323	44,591	45,961	42,705	41,402	19,468	38,290	150,150	141,865	121,391
Interest expense, net									(7,476)	(8,199)	(8,765)
Other income (expense), net									24,946	(5,557)	236
Income before income taxes									167,620	128,109	112,862
(Provision) benefit for income taxes	(16,480)	(10,705)	(4,264)	(7,176)	(11,979)	(6,640)	(801)	(4,318)	(38,625)	(23,738)	29,250
Loss from investment accounted for using the equity method, net of tax									(2,474)	(1,275)	0
Net income	$ 51,932	$ 5,844	$ 39,076	$ 29,669	$ 36,251	$ 20,427	$ 19,981	$ 26,437	126,521	103,096	142,112
Less: Net income attributable to participating securities									(234)	(8)	(4)
Net income attributable to Class A and Class B common stockholders									$ 126,287	$ 103,088	$ 142,108
Per share information:
Net income per share, basic (USD per share)	$ 0.17	$ 0.02	$ 0.14	$ 0.10	$ 0.13	$ 0.07	$ 0.07	$ 0.09	$ 0.44	$ 0.36	$ 0.50
Net income per share, diluted (USD per share)	$ 0.17	$ 0.02	$ 0.13	$ 0.10	$ 0.13	$ 0.07	$ 0.07	$ 0.09	$ 0.42	$ 0.35	$ 0.49
Weighted average shares outstanding, basic (in shares)									289,863,272	284,625,642	285,805,096
Weighted average shares outstanding, diluted (in shares)									299,371,129	293,796,707	292,624,496
Subscriptions and licenses
Revenues:
Total revenues									$ 736,655	$ 667,993	$ 618,486
Cost of revenues:
Total cost of revenues									95,803	71,578	55,113
Subscriptions
Revenues:
Total revenues									679,273	608,300	557,421
Perpetual licenses
Revenues:
Total revenues									57,382	59,693	61,065
Services
Revenues:
Total revenues									64,889	68,661	73,224
Cost of revenues:
Total cost of revenues									$ 71,352	$ 72,572	$ 76,211

Consolidated Statements of Comprehensive Income (Statement) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 126,521	$ 103,096	$ 142,112
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	(2,311)	5,959	(11,020)
Actuarial gain (loss) on retirement plan, net of tax effect of $(1), $203, and $(62), respectively	5	(472)	146
Total other comprehensive income (loss), net of taxes	(2,306)	5,487	(10,874)
Comprehensive income	$ 124,215	$ 108,583	$ 131,238

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Stockholders' Equity (Statement) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Private Placement	Follow-On Offering	Common Stock	Common Stock Private Placement	Common Stock Follow-On Offering	Additional paid-in capital	Additional paid-in capital Private Placement	Additional paid-in capital Follow-On Offering	Accumulated other comprehensive loss	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated deficit Private Placement
Beginning balance (in shares) at Dec. 31, 2017					247,465,176
Beginning balance at Dec. 31, 2017	$ 52,167				$ 2,474			$ 377,809			$ (18,540)	$ (309,576)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	142,112											142,112
Other comprehensive loss	(10,874)										(10,874)
Dividends declared	(20,005)											(20,005)
Profit-sharing plan shares, net (in shares)					(465,979)
Profit‑sharing plan shares, net	(3,387)				$ (5)							(3,382)
Shares issued in connection with deferred compensation plan, net (in shares)					2,332,585
Shares issued in connection with deferred compensation plan, net	(6,861)				$ 23							(6,884)
Deferred compensation plan voluntary contributions and vesting of awards	4,504							4,504
Payment of shareholder Put and Call rights (in shares)					(1,131,928)
Payment of shareholder Put and Call rights	(8,571)				$ (11)							(8,560)
Common Stock Purchase Agreement, net and Class B Common Stock follow-on offering net of expenses of $12,898 (in shares)						(1,281,633)
Common Stock Purchase Agreement, net and Class B Common Stock follow-on offering net of expenses of $12,898			$ (9,673)			$ (13)			$ 13					$ (9,673)
Stock option exercises, net (in shares)					2,812,998
Stock option exercises, net	610				$ 28			2,151				(1,569)
Stock-based compensation expense	7,882							7,882
Shares related to restricted stock, net (in shares)					546,783
Shares related to restricted stock, net	(137)				$ 6			494				(637)
Other (in shares)					5,511
Other	43							43
Cumulative effect adjustment on deferred tax expense	(379)											(379)
Ending balance (in shares) at Dec. 31, 2018					250,283,513
Ending balance at Dec. 31, 2018	147,431	$ 107,822			$ 2,502			392,896			(29,414)	(218,553)	$ 107,822
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	103,096											103,096
Other comprehensive loss	5,487										5,487
Dividends declared	(25,390)											(25,390)
Profit-sharing plan shares, net (in shares)					(318,203)
Profit‑sharing plan shares, net	(2,417)				$ (3)							(2,414)
Shares issued in connection with deferred compensation plan, net (in shares)					2,322,983
Shares issued in connection with deferred compensation plan, net	(5,609)				$ 23							(5,632)
Deferred compensation plan voluntary contributions and vesting of awards	3,586							3,586
Payment of shareholder Put and Call rights (in shares)					(1,126,747)
Payment of shareholder Put and Call rights	(8,838)				$ (11)							(8,827)
Common Stock Purchase Agreement, net and Class B Common Stock follow-on offering net of expenses of $12,898 (in shares)						64,509
Common Stock Purchase Agreement, net and Class B Common Stock follow-on offering net of expenses of $12,898			418						$ 466					(48)
Stock option exercises, net (in shares)					3,214,542
Stock option exercises, net	1,303				$ 33			3,579				(2,309)
Stock-based compensation expense	8,091							8,091
Shares related to restricted stock, net (in shares)					395,336
Shares related to restricted stock, net	(399)				$ 4			(4)				(399)
Other (in shares)					7,016
Other	38							53				(15)
Ending balance (in shares) at Dec. 31, 2019					254,842,949
Ending balance at Dec. 31, 2019	334,619				$ 2,548			408,667			(23,927)	(52,669)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126,521											126,521
Other comprehensive loss	(2,306)										(2,306)
Dividends declared	(424,018)											(424,018)
Profit-sharing plan shares, net (in shares)					(549,834)
Profit‑sharing plan shares, net	(6,970)				$ (5)							(6,965)
Shares issued in connection with deferred compensation plan, net (in shares)					3,081,607
Shares issued in connection with deferred compensation plan, net	(4,625)				$ 31							(4,656)
Deferred compensation plan voluntary contributions and vesting of awards	3,530							3,530
Payment of shareholder Put and Call rights (in shares)					(128,007)
Payment of shareholder Put and Call rights	(1,454)				$ (1)							(1,453)
Common Stock Purchase Agreement, net and Class B Common Stock follow-on offering net of expenses of $12,898 (in shares)						0	9,603,965
Common Stock Purchase Agreement, net and Class B Common Stock follow-on offering net of expenses of $12,898			$ (57)	$ 294,429			$ 96			$ 294,333				$ (57)
Stock option exercises, net (in shares)					4,060,839
Stock option exercises, net	4,356				$ 41			9,070				(4,755)
Shares issued for stock grants, net (in shares)					21,956
Shares issued for stock grants, net	319							319
Stock-based compensation expense	25,194							25,194
Shares related to restricted stock, net (in shares)					1,221,029
Shares related to restricted stock, net	(7,939)				$ 12							(7,951)
Ending balance (in shares) at Dec. 31, 2020					272,154,504
Ending balance at Dec. 31, 2020	$ 341,599				$ 2,722			$ 741,113			$ (26,233)	$ (376,003)

Consolidated Statement of Cash Flows (Statement) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 126,521	$ 103,096	$ 142,112
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36,117	32,160	29,200
Bad debt (recovery) allowance	(1,000)	862	2,393
Deferred income taxes	16,246	732	(60,060)
Deferred compensation plan activity	3,706	3,994	4,323
Stock-based compensation expense	32,114	8,091	7,882
Amortization and write-off of deferred debt issuance costs	985	553	552
Change in fair value of derivative	(347)	159	487
Change in fair value of contingent consideration	(1,340)	62	272
Foreign currency remeasurement (gain) loss	(24,502)	5,311	(1,645)
Loss from investment accounted for using the equity method, net of tax	2,474	1,275	0
Changes in assets and liabilities, net of effect from acquisitions:
Accounts receivable	12,388	(21,152)	(41,787)
Prepaid and other assets	11,705	(668)	2,831
Accounts payable, accruals and other liabilities	47,656	41,880	37,249
Deferred revenues	(565)	(268)	21,247
Income taxes payable	(3,818)	(5,314)	16,409
Net cash provided by operating activities	258,340	170,773	161,465
Cash flows from investing activities:
Purchases of property and equipment and investment in capitalized software	(15,496)	(15,804)	(18,616)
Capitalization of costs to translate software products into foreign languages	(951)	(835)	(877)
Acquisitions, net of cash acquired of $5,266, $2,523, and $7,774, respectively	(93,032)	(34,054)	(135,264)
Other investing activities	(7,854)	(3,000)	0
Net cash used in investing activities	(117,333)	(53,693)	(154,757)
Cash flows from financing activities:
Proceeds from credit facilities	550,875	191,250	148,250
Payments of credit facilities	(538,625)	(216,250)	(159,500)
Proceeds from term loan	125,000	0	0
Repayment of term loan	(125,000)	0	0
Payments of debt issuance costs	(432)	0	0
Payments of financing leases	(189)	0	0
Payments of acquisition debt and other consideration	(3,425)	(11,029)
Payments of acquisition debt and other consideration			9
Payments of Class B Common Stock follow-on offering expenses	(1,373)	0	0
Payments of dividends	(422,646)	(24,989)	(20,059)
Payments for shares acquired including shares withheld for taxes	(83,975)	(24,166)	(46,451)
Proceeds from exercise of stock options	9,128	3,626	2,732
Net cash used in financing activities	(136,511)	(77,048)	(58,799)
Effect of exchange rate changes on cash and cash equivalents	(3,591)	(114)	(1,193)
Increase (decrease) in cash and cash equivalents	905	39,918	(53,284)
Cash and cash equivalents, beginning of year	121,101	81,183	134,467
Cash and cash equivalents, end of year	122,006	121,101	81,183
Supplemental information:
Cash paid for income taxes	28,986	27,907	25,782
Income tax refunds	3,863	1,752	7,285
Interest paid	8,012	9,221	8,863
Non-cash contingent acquisition consideration	2,380	4,498	13,456
Non-cash deferred, non-contingent consideration, net	1,416	0	690
Private Placement
Cash flows from financing activities:
Proceeds from issuance of common stock	58,349	4,510	16,220
Follow-On Offering
Cash flows from financing activities:
Proceeds from issuance of common stock	$ 295,802	$ 0	$ 0

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock par value (USD per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (in shares)	100,000,000	100,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Class A Common Stock
Common stock par value (USD per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	100,000,000
Common stock shares issued (in shares)	11,601,757	11,601,757
Class B Common Stock
Common stock par value (USD per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	1,800,000,000
Common stock shares issued (in shares)	260,552,747	243,241,192

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Actuarial gain on retirement plan, tax effect	$ (1)	$ 203	$ (62)

Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Follow-On Offering
Expenses associated with sale of stock	$ 12,898

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Cash Flows [Abstract]
Cash acquired from acquisitions	$ 5,266	$ 2,523	$ 7,774

Basis of Presentation and Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Significant Accounting Policies

Description of Business and Operations — Bentley Systems, Incorporated (“Bentley” or the “Company”) is a Delaware corporation that was founded in 1984 and is headquartered in Exton, Pennsylvania. The Company, together with its subsidiaries, is a leading global provider of infrastructure engineering software solutions for professionals and organizations involved in the project delivery and operational performance of infrastructure assets. The Company is dedicated to advancing infrastructure through its comprehensive software solutions that span engineering disciplines, assets, and lifecycle processes. The Company’s integrated software platform encompasses both the design and construction of infrastructure, which the Company refers to as project delivery, and the operation of infrastructure assets, which the Company refers to as asset performance. The Company’s software solutions are designed to enable information mobility for a more complete flow of information among applications, across distributed project teams, from offices to the field, and throughout the infrastructure lifecycle. The Company believes its solutions extend the reach and scope of digital engineering models from the project delivery phase into the asset performance phase of the infrastructure lifecycle, which enables engineers to make infrastructure assets more intelligent and sustainable. Users of the Company’s solutions include engineers and construction professionals who collaborate on project delivery, and owner‑operators who maintain, adapt, and optimize the performance of infrastructure assets.

Initial Public Offering — On September 25, 2020, the Company completed its initial public offering (“IPO”). The selling stockholders sold 12,360,991 shares of Class B Common Stock at a public offering price of $22.00 per share. The Company did not sell any shares in the IPO and did not receive any of the proceeds from the sale of the Class B Common Stock sold by the selling stockholders (see Notes 13 and 15). For the year ended December 31, 2020, the Company recorded $26,130 in Expenses associated with initial public offering in the consolidated statement of operations. These expenses included certain non‑recurring costs relating to the Company’s IPO, consisting of the payment of underwriting discounts and commissions applicable to the sale of shares by the selling stockholders, professional fees, and other expenses.

Follow-On Public Offering — On November 17, 2020, the Company completed its follow‑on public offering of 11,500,000 shares of Class B Common Stock at a public offering price of $32.00 per share (the “Follow‑On Offering”). The Company sold 9,603,965 shares of Class B Common Stock (inclusive of 1,500,000 shares sold upon the exercise by the underwriters of their option to purchase additional shares of the Company’s Class B Common Stock). The selling stockholders sold 1,896,035 shares of Class B Common Stock. The Company received net proceeds of $294,429 after deducting expenses of $12,898. The Company did not receive any of the proceeds from the sale of the Class B Common Stock sold by the selling stockholders. Expenses associated with the Follow‑On Offering included certain non‑recurring costs, consisting of the payment of underwriting discounts and commissions applicable to the sale of shares by the Company, professional fees, and other expenses. The Company agreed to pay certain expenses in connection with the Follow‑On Offering on behalf of the selling stockholders and made an accounting policy election to offset these expenses against the Follow‑On Offering proceeds (see Note 13).

Special Dividend — On August 28, 2020, the Company’s board of directors declared a special dividend of $1.50 per share of the Company’s common stock ($392,489 in the aggregate) (the “Special Dividend”), payable to all stockholders of record as of August 31, 2020, including dividends which accrue on certain unvested restricted stock and restricted stock units (“RSUs”). The Company used its bank credit facility to pay the Special Dividend (see Note 10). In connection with the Special Dividend declaration, an in kind adjustment was made to phantom shares issuable pursuant to the amended and restated Bentley Systems, Incorporated Nonqualified Deferred Compensation Plan (the “DCP”) (see Note 12) and the exercise price of all outstanding stock options at that time were reduced by $1.50, but not lower than $0.01 (see Note 15).

Stock Dividend — On May 1, 2018, the Company paid a previously declared stock dividend (the “Stock Dividend”) to all holders of the Company’s common stock as of April 30, 2018. Under the terms of the Stock Dividend, each stockholder received one share of the Company’s Class B Common Stock for each share of either Class A or Class B Common Stock then owned, including shares held in the Company’s 401(k) profit‑sharing plan. Because the Stock Dividend had the economic effect of a 2‑for‑1 stock split (with twice as many shares issued, each worth half the original value of a share), all prior period share and per share amounts presented in the consolidated financial statements and notes have been adjusted on a retroactive basis to give effect to the Stock Dividend.

In addition, under the terms of the Company’s equity incentive plans and instruments, all outstanding awards and instruments were automatically adjusted as required by their terms to reflect the Stock Dividend, including, as it relates to stock options, by doubling the number of outstanding options and reducing by one‑half the exercise prices of all outstanding options.

Risks and Uncertainties — COVID‑19 Pandemic — In March 2020, the World Health Organization declared a global pandemic related to the rapidly growing outbreak of the disease COVID‑19, caused by a novel strain of coronavirus, SARS‑CoV‑2. The COVID‑19 outbreak and certain preventative or protective actions that governments, businesses, and individuals have taken in respect of COVID‑19 have resulted in global business disruptions.

In response to the COVID‑19 pandemic, the Company implemented a number of initiatives to ensure the safety of its colleagues and enable them to move to a work from home environment seamlessly and continue working effectively. The Company’s business model is such that there was minimal disruption to the Company’s ability to deliver its solutions to accounts, and the Company believes it did not have any significant loss of productivity during this transition. The Company has also taken measures to reduce selected operating expenses, including various costs associated with travel and facilities.

Basis of Presentation and Consolidation — The consolidated financial statements and accompanying notes have been prepared in United States (“U.S.”) Dollars and in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company is party to a joint venture, which is accounted for using the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation.

The Company’s principal subsidiaries are Bentley Systems International Limited (Ireland), Bentley Software International, Limited (Bermuda), Bentley Canada Inc. (Canada), Bentley Systems Europe BV (the Netherlands), Bentley Systems Pty Ltd. (Australia), Bentley Systems Co., Ltd. (Japan), Bentley Systems Germany GmbH (Germany), Bentley Systems Ltd. (UK), and Bentley Systems India Private Limited (India).

Use of Estimates — The preparation of consolidated financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company’s significant estimates and assumptions include revenue recognition, adequacy of allowance for accounts receivable, determination of the fair value of acquired assets and liabilities, the fair value of derivative financial instruments, the fair value of common stock (prior to the Company’s IPO) and stock‑based compensation, operating lease assets and liabilities, useful lives for depreciation and amortization, impairment of goodwill and intangible assets, and accounting for income taxes. Actual results could differ materially from these estimates.

Cash and Cash Equivalents — The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. As of December 31, 2020 and 2019, all of the Company’s cash and cash equivalents consisted of money market funds and cash held in checking accounts maintained at various financial institutions. Cash equivalents are recorded at cost, which approximates fair value.

Revenues — On January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2014‑09, Revenue from Contracts with Customers, and related amendments (“Topic 606”). Results for reporting periods beginning on or after January 1, 2019 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the guidance provided by Accounting Standards Codification (“ASC”) 985‑605, Software‑Revenue Recognition, and revenues for non‑software deliverables in accordance with Topic 605‑25, Revenue Recognition, Multiple‑Element Arrangements. The Company refers to ASC 985‑605 and Topic 605‑25 collectively as “Topic 605.”

For a detailed description of the Company’s revenue recognition accounting policies and for the qualitative and quantitative discussion regarding the impact of Topic 606 adoption, see Note 3.

Cost of Revenues — Cost of subscriptions and licenses includes salaries and other related costs, including the depreciation of property and equipment and the amortization of capitalized software costs associated with servicing software subscriptions, the amortization of intangible assets associated with acquired software and technology, channel partner compensation for providing sales coverage to subscribers, as well as cloud‑related costs incurred for servicing our customers using cloud deployed hosted solutions and those using our SELECT subscription offering. Cost of services includes salaries for internal and third‑party personnel and related overhead costs, including depreciation of property and equipment, for providing training, implementation, configuration, and customization services to customers, amortization of capitalized software costs, and related out‑of‑pocket expenses incurred.

Property and Equipment — Property and equipment are recorded at cost less accumulated depreciation. Depreciation is calculated using the straight‑line method over the estimated useful lives of the assets, which range from three to 25 years. Leasehold improvements are depreciated over the shorter of the estimated useful life of the leasehold improvements or the lease term. Land is not depreciated. Depreciation for equipment commences once it is placed in service and depreciation for buildings and leasehold improvements commences once they are ready for their intended use. Estimated useful lives of property and equipment are as follows:


	Useful Life
Building and improvements	25	years
Computer equipment and software	3	years
Furniture, fixtures, and equipment	5	years
Aircraft	6	years
Automobiles	3	years

Cost of maintenance and repairs is charged to expense as incurred. Upon retirement or other disposition, the cost of the asset and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations.

Goodwill and Other Intangible Assets — Intangible assets arise from acquisitions and principally consist of goodwill, trademarks, customer relationships, in‑process research and development, and acquired software and technology. Intangibles, other than goodwill and in‑process research and development, are amortized on a straight‑line basis over their estimated useful lives, which range from three to ten years.

Goodwill consists of the excess of cost over the fair value of net assets acquired in business combinations. Goodwill is not amortized, but instead is tested annually for impairment, or more frequently if events occur or circumstances change that would more likely than not reduce its fair value below its carrying amount. The Company operates as a single reporting unit.

The initial step in evaluating goodwill for impairment requires the Company to determine the reporting unit’s fair value and compare it to the carrying value, including goodwill, of such reporting unit. As part of the assessment, the Company may first qualitatively assess whether it is more likely than not (a likelihood of more than 50 percent) that a goodwill impairment exists. In evaluating whether it is more likely than not that a goodwill impairment exists, the Company considers the factors identified in ASC 350, Intangibles—Goodwill and Other. The Company also considers whether there are significant differences between the carrying amount and the estimated fair value of its assets and liabilities, and the existence of significant unrecognized intangible assets. Based upon the Company’s most recent annual impairment assessment completed as of October 1, 2020, it is not more likely than not that a goodwill impairment exists. There was no impairment of goodwill as a result of the Company’s annual impairment assessments conducted for the years ended December 31, 2020, 2019, and 2018.

Long‑Lived Assets — The Company evaluates the recoverability of long‑lived assets, such as property and equipment, operating lease right‑of‑use assets, and amortizable intangible assets, in accordance with authoritative guidance on accounting for the impairment or disposal of long‑lived assets, which includes evaluating long‑lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. If circumstances require a long‑lived asset to be tested for possible impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset to its carrying value. If the carrying value of the long‑lived asset is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. No impairment of long‑lived assets occurred for the years ended December 31, 2020, 2019, and 2018.

Research and Development — Research and development expenses, which are generally expensed as incurred, primarily consist of personnel and related costs of our research and development staff, including salaries, benefits, bonuses, stock‑based compensation, and costs of certain third‑party contractors, as well as allocated overhead costs. The Company expenses software development costs, including costs to develop software products or the software component of products to be sold, leased, or marketed to external accounts, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and as a result, development costs that meet the criteria for capitalization were not material for the periods presented.

The Company capitalizes certain development costs related to certain projects under its Accelerated Commercial Development Program (“ACDP”) (the Company’s structured approach to an in‑house business incubator function) once technological feasibility is established. Technological feasibility is established when a detailed program design has been completed and documented, the Company has established that the necessary skills, hardware, and software technology are available to produce the product, and there are no unresolved high‑risk development issues. Once the software is ready for its intended use, amortization is recorded over the software’s estimated useful life (generally three years). For the years ended December 31, 2020, 2019, and 2018, total costs capitalized under the ACDP were $7,809, $6,060, and $5,735, respectively. Additionally, for the years ended December 31, 2020, 2019, and 2018, total ACDP related amortization recorded in Costs of subscriptions and licenses in the consolidated statements of operations was $4,699, $3,516, and $2,052, respectively.

Certain costs related to the creation of foreign language translations are capitalized and amortized over the economic life of the software. For the years ended December 31, 2020, 2019, and 2018, total costs capitalized related to the creation of foreign language translations were $951, $835, and $877, respectively. Additionally, for the years ended December 31, 2020, 2019, and 2018, amortization related to the creation of foreign language translations recorded in Costs of subscriptions and licenses in the consolidated statements of operations was $919, $823, and $1,008, respectively.

Advertising Expense — The Company expenses advertising costs as incurred. Advertising expense of $1,726, $1,579, and $2,378 is included in Selling and marketing in the consolidated statements of operations for the years ended December 31, 2020, 2019, and 2018, respectively.

Income Taxes — The Company recognizes deferred income tax assets and liabilities for the expected future tax consequences of net operating loss carryforwards, credit carryforwards, and temporary differences between financial statement carrying amounts of assets and liabilities and their respective tax bases, using enacted tax rates in effect for the year in which the items are expected to reverse.

The Company accounts for uncertain tax positions based on an evaluation as to whether it is more likely than not that a tax position will be sustained on audit, including resolution of any related appeals or litigation processes. This evaluation is based on all available evidence and assumes that the appropriate tax authorities have full knowledge of all relevant information concerning the tax position. The tax benefit recognized is based on the largest amount that is greater than 50 percent likely of being realized upon ultimate settlement. Interest expense and penalties are included in (Provision) benefit for income taxes in the consolidated statements of operations.

U.S. Tax Reform — On December 22, 2017, the U.S. Tax Cuts and Jobs Act (the “JOBS Act” or “U.S. tax reform”) was enacted. U.S. tax reform, among other things, reduces the U.S. federal income tax rate to 21% from 35% in 2018, institutes a dividends received deduction for foreign earnings with a related tax for the deemed repatriation of unremitted foreign earnings, and creates a new U.S. minimum tax on earnings of foreign subsidiaries. The Company completed its accounting for the effects of the JOBS Act in 2018 and has included those effects in (Provision) benefit for income taxes in the consolidated statements of operations.

Segment — Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) to allocate resources and assess performance. The Company defines its CODM to be its chief executive officer. The chief executive officer reviews the financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating the Company’s financial performance. Accordingly, the Company has determined it operates and manages its business in a single reportable operating segment, the development and marketing of computer software and related services. The Company markets its products and services through the Company’s offices in the U.S. and its wholly‑owned branches and subsidiaries internationally.

Foreign Currency Translation — Gains and losses resulting from foreign currency transactions denominated in currencies other than the functional currency are included in Other income (expense), net in the consolidated statements of operations. The assets and liabilities of foreign subsidiaries are translated from their respective functional currencies into U.S. Dollars at the rates in effect at the balance sheet date, and revenue and expense amounts are translated at average rates during the period. Foreign currency translation adjustments are recorded as a component of Other comprehensive income (loss), net of taxes in the consolidated statements of comprehensive income.

Concentration of Credit Risk — Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of its cash and cash equivalents and receivables. To reduce credit risk, the Company performs ongoing credit evaluations of its customers and limits the amount of credit extended when deemed necessary. Generally, the Company requires no collateral from its customers. The Company maintains an allowance for potential credit losses, but historically has not experienced any significant losses related to individual customers or groups of customers in any particular industry or geographic area. No single customer accounted for more than 2.5% of the Company’s revenue for the years ended December 31, 2020, 2019, or 2018.

The Company’s cash and cash equivalents are deposited with financial institutions and invested in money market funds that the Company believes are of high credit quality.

Investments — The Company applies the cost method of accounting for its investment in which it does not have the ability to exercise significant influence over operating and financial policies. Under the cost method, the Company records the investment based on original cost less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same investee. The Company’s share of income or loss of such companies is not included in the Company’s consolidated statements of operations. The Company applies the equity method of accounting for its investment in which it does have the ability to exercise significant influence over operating and financial policies. Under the equity method, the Company recognizes its initial investment at cost and updates the carrying value of its investment by its proportional share of income or losses from the investment. In addition, the Company decreases the carrying value by any dividends received from the investee. The Company does not otherwise adjust the carrying value to reflect changes to the fair market value of the investment.

Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable represent receivables from customers for products and services invoiced by the Company for which payment is outstanding. Receivables are recorded at the invoiced amount and do not bear interest.

The Company establishes an allowance for doubtful accounts for expected losses during the accounts receivable collection process. The allowance for doubtful accounts is presented separately in the consolidated balance sheets and reduces the accounts receivable balance to the net realizable value of the outstanding accounts and installment receivables. The development of the allowance for doubtful accounts is based on an expected loss model which considers historical write‑off and recovery experience, aging trends affecting specific accounts, and general operational factors affecting all accounts. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

The Company considers current economic trends and takes into account reasonable and supportable forecasts of future conditions when evaluating the adequacy of the allowance for doubtful accounts. If circumstances relating to specific customers change or unanticipated changes occur in the general business environment, the Company’s estimate of the recoverability of receivables could be further adjusted.

Activity related to the Company’s allowance for doubtful accounts was as follows:


	Year Ended December 31,
	2020		2019
Balance, beginning of year	$	7,274	$	7,611
Bad debt (recovery) allowance	(1,000)		862
Write-offs	(812)		(1,314)
Foreign currency translation adjustments	297		115
Balance, end of year	$	5,759	$	7,274

Stock‑Based Compensation — The Company records all stock‑based compensation as an expense in the consolidated statements of operations measured at the grant date fair value of the award and is recognized ratably over the requisite service period, which is generally the vesting period. The fair value of stock option awards is determined using the Black‑Scholes option pricing model. For all other equity‑based arrangements, the stock‑based compensation expense is based on the share price at the grant date (see Note 15).

Guarantees — The Company’s software license agreements typically provide for indemnification of customers for intellectual property infringement claims. The Company also warrants to customers, when requested, that its software products operate substantially in accordance with standard specifications for a limited period of time. The Company has not incurred significant obligations under customer indemnification or warranty provisions historically and does not expect to incur significant obligations in the future. Accordingly, the Company does not maintain accruals for potential customer indemnification or warranty‑related obligations.

Derivative Arrangements — The Company records derivative instruments as an asset or liability measured at fair value and depending on the nature of the hedge, the corresponding changes in the fair value of these instruments are recorded in the consolidated statements of operations or comprehensive income. If the derivative is determined to be a hedge, changes in the fair value of the derivative are offset against the change in the fair value of the hedged assets or liabilities through the consolidated statements of operations or recognized in Other comprehensive income (loss), net of taxes until the hedged item is recognized in the consolidated statement of operations. The ineffective portion of a derivative’s change in fair value is recognized in earnings. Also, changes in the entire fair value of a derivative that is not designated as a hedge are recognized in earnings.

On March 31, 2020, the Company entered into an interest rate swap with a notional amount of $200,000 and a ten‑year term to reduce the interest rate risk associated with the Company’s Credit Facility (see Note 10). The interest rate swap is not designated as a hedging instrument for accounting purposes. The Company accounts for the swap as either an asset or a liability on the consolidated balance sheet and carries the derivative at fair value. Gains and losses from the change in fair value are recognized in Other income (expense), net and payments related to the swap are recognized in Interest expense, net in the consolidated statements of operations. The bank counterparty to the derivative potentially exposes the Company to credit-related losses in the event of nonperformance. To mitigate that risk, the Company only contracts with counterparties who meet the Company’s minimum requirements under its counterparty risk assessment process. The Company monitors counterparty risk on at least a quarterly basis and adjusts its exposure as necessary. The Company does not enter into derivative instrument transactions for trading or speculative purposes.

Fair Value Measurements — The Company categorizes its assets and liabilities measured at fair value into a three‑level hierarchy, based on the priority of the inputs to the respective valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). An asset or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.

Leases — The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating lease right‑of‑use assets, Operating lease liabilities, and Long‑term operating lease liabilities in the consolidated balance sheet. Operating lease right‑of‑use assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right‑of‑use assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, if the Company’s leases do not provide an implicit rate, based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is determined based on the Company’s estimated credit rating, the term of the lease, economic environment where the asset resides, and full collateralization. The operating lease right‑of‑use assets also include any lease payments made and are reduced by any lease incentives. Options to extend or terminate the lease are considered in determining the lease term when it is reasonably certain that the option will be exercised. Lease expense for lease payments is recognized on a straight‑line basis over the lease term. The Company’s operating leases are primarily for office space, automobiles, and office equipment. The Company’s finance lease is included in Property and equipment, net, Accruals and other current liabilities, and Other liabilities in the consolidated balance sheet.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020‑04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020‑04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020‑04 applies only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform between March 12, 2020 and December 31, 2022. The expedients and exceptions provided by ASU 2020‑04 do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company had no transactions that were impacted by ASU 2020‑04 during the year ended December 31, 2020. In August 2018, the FASB issued ASU No. 2018‑15, Intangibles–Goodwill and Other–Internal-Use Software (Subtopic 350‑40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018‑15”), which clarifies the accounting for implementation costs in cloud computing arrangements. ASU 2018‑15 is effective for the Company for the annual reporting period beginning after December 15, 2020, and interim periods beginning after December 15, 2021. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the accounting, transition, and disclosure requirements of the standard and its impact on the Company’s consolidated results of operations and financial position. In January 2017, the FASB issued ASU No. 2017‑04, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which removes Step 2 of the goodwill impairment test. A goodwill impairment will now be calculated as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This ASU is effective for the Company for the interim and annual reporting periods beginning after December 15, 2021. Early adoption is permitted, including adoption in an interim period. The Company does not believe that this ASU will have a material impact on the Company’s consolidated results of operations and financial position. Recently Adopted Accounting Guidance In February 2016, the FASB issued ASU No. 2016‑02 regarding ASC Topic 842, Leases (“Topic 842”). This ASU requires balance sheet recognition of lease assets and lease liabilities by lessees for leases classified as operating leases, with an optional policy election to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. The amendments also require new disclosures, including qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. Subsequent to the issuance of Topic 842, the FASB issued ASU Nos. 2018‑01, Land Easement Practical Expedient for Transition to Topic 842, 2018‑10, Codification Improvements to Topic 842, Leases, 2018‑11, Targeted Improvements, and 2018‑20, Narrow-Scope Improvements for Lessors. These ASUs do not change the core principle of the guidance in Topic 842. Instead, these amendments are intended to clarify and improve operability of certain topics included within the lease standard. The Company adopted Topic 842 as of January 1, 2020 using the modified retrospective method for all existing leases. Upon adoption, the Company recognized its lease assets and lease liabilities measured at the present value of all future fixed lease payments, discounted using the Company’s incremental borrowing rate. The Company elected the package of practical expedients as permitted under the transition guidance, which allows the Company: (1) to not reassess whether any existing contracts are leases or contain a lease; (2) to not reassess the lease classification of existing leases; and (3) to not reassess treatment of initial direct costs for existing leases. Additionally, the Company elected the practical expedients to combine lease and non-lease components for new leases post adoption and to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. Upon adoption of Topic 842, the Company recognized right‑of‑use assets of $45,850 and lease liabilities of $47,666 calculated based on the present value of the remaining minimum lease payments as of the adoption date. Topic 842 did not have a material impact to the Company’s consolidated statement of operations (see Note 8). In June 2016, the FASB issued ASU No. 2016‑13, Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“Topic 326”). Previous guidance required the allowance for doubtful accounts to be estimated based on an incurred loss model, which considers past and current conditions. Topic 326 requires companies to use an expected loss model that also considers reasonable and supportable forecasts of future conditions. Additionally, Topic 326 requires the allowance for doubtful accounts balance (contra‑asset) to be presented separately in the consolidated balance sheets. The Company adopted Topic 326 as of January 1, 2020 using the modified retrospective method of adoption. The adoption of the standard did not have a material impact on the Company’s consolidated results of operations and financial position. In August 2018, the FASB issued ASU No. 2018‑13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018‑13”). ASU 2018‑13 modifies certain required disclosures and establishes new requirements related to fair value measurement. Additionally, the disclosure requirement to state the reasons for transfers between Level 1 and Level 2, the policy for timing transfers between levels, and the valuation process for Level 3 measurements have been removed. The Company adopted the ASU effective January 1, 2020. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial position. In December 2019, the FASB issued ASU No. 2019‑12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019‑12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019‑12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The Company adopted the ASU effective January 1, 2020. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial position. In August 2020, the FASB issued ASU No. 2020‑06, Debt–Debt with Conversion and Other Options (Subtopic 470‑20) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Subtopic 815‑40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020‑06”), which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if‑converted method. The Company early adopted the ASU effective January 1, 2021 using the modified retrospective method of adoption. The Company will apply this ASU to the convertible debt transaction entered into in January 2021 (see Note 25).

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
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+ Details

Revenue from Contracts with Customer

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customer

Revenue from Contracts with Customers

On January 1, 2019, the Company adopted Topic 606, which superseded substantially all existing revenue recognition guidance under U.S. GAAP. The Company adopted Topic 606 using the modified retrospective method, under which the cumulative effect of initially applying Topic 606 of $125,464 ($101,489, net of tax) was recorded as a cumulative decrease to the opening balance of Accumulated deficit in the consolidated balance sheet as of January 1, 2019. The Company applied the standard only to contracts that were not completed as of the date of initial application. The comparative information for the year ended December 31, 2018 has not been adjusted and continues to be reported under Topic 605. Refer below for the qualitative and quantitative discussion regarding the impact of Topic 606 adoption.

The core principle of Topic 606 is to recognize revenue when promised goods or services are transferred to a customer in an amount that reflects the consideration that is expected to be received for those goods or services. Under the new guidance, the Company is required to evaluate revenue recognition through a five‑step process: (1) identify a contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation. The standard also requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In applying the principles of Topic 606, more judgment and estimates are required within the revenue recognition process than was required under previous U.S. GAAP, including identifying performance obligations, estimating the amount of variable consideration to include in the transaction price, and estimating the value of each performance obligation to allocate the total transaction price to each separate performance obligation.

The most significant impact to the Company resulting from the adoption of Topic 606 relates to timing of revenue recognition for perpetual licenses and the accounting for certain of the Company’s subscription arrangements that include term‑based software licenses bundled with support. Under prior guidance, revenue for perpetual licenses was recognized ratably over a three‑year period, while revenue attributable to the term‑based software licenses was recognized ratably over the term. Under Topic 606, both perpetual license and term‑based software license revenue is recognized up‑front upon delivery of the software license. Revenue recognition related to support, hosting, usage‑based offerings, and services is substantially unchanged, with support and hosting revenue recorded ratably over the contract term, usage‑based revenue recognized upon usage or delivery, and services revenue as delivered.

With the adoption of Topic 606, the Company also adopted ASC Topic 340‑40, Other Assets and Deferred Costs‑Contracts with Customers (“Topic 340‑40”). Prior to the adoption of Topic 340‑40, the Company previously recognized compensation paid to sales employees and certain channel partners related to obtaining customer contracts when incurred. Under Topic 340‑40, the Company recognizes an asset for the incremental costs of obtaining a contract with a customer if the Company expects the benefit of those costs to be longer than one year. The contract costs are amortized based on the economic life of the goods and services to which the contract costs relate. The Company has determined that costs under certain sales incentive programs meet the requirements to be capitalized. The Company applies a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include the Company’s internal sales force compensation program and certain channel partner sales incentive programs for which the annual compensation is commensurate with annual sales activities. Under the modified retrospective method, the Company recorded a cumulative decrease of $7,734 ($6,333, net of tax) to the opening balance of Accumulated deficit in the consolidated balance sheet as of January 1, 2019. The comparative information for the year ended December 31, 2018 has not been adjusted and continues to be reported as incurred.

Quantitative Effect of Topics 606 and 340‑40 Adoption

The following tables compare the reported consolidated balance sheet and statement of operations, as of and for the year ended December 31, 2019, to the amounts had Topic 605 been in effect. Adoption of the standards had no impact to net cash provided by or used in operating, investing, or financing activities on the Company’s consolidated statement of cash flows for the year ended December 31, 2019.


	December 31, 2019
			Impact from
			the Adoption of
	As Reported		Topics 606		As Adjusted
	Topic 606		and 340-40		Topic 605
Assets
Current assets:
Cash and cash equivalents	$	121,101	$	—	$	121,101
Accounts receivable	211,775		(233)		211,542
Allowance for doubtful accounts	(7,274)		—		(7,274)
Prepaid income taxes	4,543		2,189		6,732
Prepaid and other current assets (1)	23,413		(3,333)		20,080
Total current assets	353,558		(1,377)		352,181
Property and equipment, net	29,632		—		29,632
Intangible assets, net	46,313		—		46,313
Goodwill	480,065		—		480,065
Investments	1,725		—		1,725
Deferred income taxes	51,068		21,543		72,611
Other assets (1)	32,238		(5,721)		26,517
Total assets	$	994,599	$	14,445	$	1,009,044
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	17,669	$	—	$	17,669
Accruals and other current liabilities	167,517		(292)		167,225
Deferred revenues	204,991		77,079		282,070
Income taxes payable	2,236		(1,206)		1,030
Total current liabilities	392,413		75,581		467,994
Long-term debt	233,750		—		233,750
Deferred revenues	8,154		47,967		56,121
Deferred income taxes	8,260		(633)		7,627
Income taxes payable	8,140		(1,819)		6,321
Other liabilities	9,263		—		9,263
Total liabilities	659,980		121,096		781,076
Stockholders’ equity:
Common stock	2,548		—		2,548
Additional paid-in capital	408,667		—		408,667
Accumulated other comprehensive loss	(23,927)		841		(23,086)
Accumulated deficit (2)	(52,669)		(107,492)		(160,161)
Total stockholders’ equity	334,619		(106,651)		227,968
Total liabilities and stockholders’ equity	$	994,599	$	14,445	$	1,009,044

(1)As of December 31, 2019, contract cost assets of $2,690 were included in Prepaid and other current assets and $5,235 were included in Other assets.

(2)Included in Accumulated deficit on the opening balance of January 1, 2019 is $107,822, net of tax, for the cumulative effect adjustment of adopting Topics 606 and 340‑40.


	Year Ended December 31, 2019
			Impact from
			the Adoption of
	As Reported		Topics 606		As Adjusted
	Topic 606		and 340-40		Topic 605
Revenues:
Subscriptions	$	608,300	$	5,625	$	613,925
Perpetual licenses	59,693		(7,174)		52,519
Subscriptions and licenses	667,993		(1,549)		666,444
Services	68,661		(256)		68,405
Total revenues	736,654		(1,805)		734,849
Cost of revenues:
Cost of subscriptions and licenses	71,578		(139)		71,439
Cost of services	72,572		—		72,572
Total cost of revenues	144,150		(139)		144,011
Gross profit	592,504		(1,666)		590,838
Operating expenses:
Research and development	183,552		—		183,552
Selling and marketing	155,294		(20)		155,274
General and administrative	97,580		—		97,580
Amortization of purchased intangibles	14,213		—		14,213
Total operating expenses	450,639		(20)		450,619
Income from operations	141,865		(1,646)		140,219
Interest expense, net	(8,199)		—		(8,199)
Other income (expense), net	(5,557)		—		(5,557)
Income before income taxes	128,109		(1,646)		126,463
(Provision) benefit for income taxes	(23,738)		1,976		(21,762)
Loss from investment accounted for using the equity method, net of tax	(1,275)		—		(1,275)
Net income	$	103,096	$	330	$	103,426

Nature of Products and Services

The Company generates revenues from subscriptions, perpetual licenses, and professional services.

Subscriptions

SELECT subscriptions — A prepaid annual recurring subscription that accounts (which are based on distinct contractual and billing relationships with the Company, where affiliated entities of a single parent company may each have an independent account with the Company) can elect to add to a new or previously purchased perpetual license. SELECT provides accounts with benefits, including upgrades, comprehensive technical support, pooled licensing benefits, annual portfolio balancing exchange rights, learning benefits, certain Azure‑based cloud collaboration services, mobility advantages, and access to other available benefits. Under Topic 606, SELECT subscription revenues are recognized as distinct performance obligations are satisfied. The performance obligations within the SELECT offering, outside of the portfolio balancing exchange right, are concurrently delivered and have the same pattern of recognition. These performance obligations are accounted for ratably over the term as a single performance obligation. Under Topic 605, SELECT subscriptions revenue was recognized on a ratable basis, over the subscription term.

Enterprise subscriptions — The Company also provides Enterprise subscription offerings which provide its largest accounts with complete and unlimited global access to the Company’s comprehensive portfolio of solutions. Enterprise License Subscriptions (“ELS”) provide access for a prepaid fee, which is based on the account’s usage of software in the preceding year, to effectively create a fee‑certain consumption‑based arrangement. ELS contain a term license component, SELECT maintenance and support, and performance consulting days. The SELECT maintenance and support benefits under ELS do not include a portfolio balancing performance obligation. Revenue is allocated to the various performance obligations based on their respective standalone selling price (“SSP”). Revenue allocated to the term license component is recognized upon delivery at the start of the subscription term while revenues for the SELECT maintenance and support and the performance consulting days are recognized as delivered over the subscription term. Billings in advance are recorded as Deferred revenues in the consolidated balance sheets. Under Topic 605, ELS revenue was recognized on a ratable basis, over the subscription term.

Enterprise 365 (“E365”) subscriptions, which were introduced during the fourth quarter of 2018, provide unrestricted access to the Company’s comprehensive software portfolio, similar to ELS, however, the accounts are charged based upon daily usage. The daily usage fee includes a term license component, SELECT maintenance and support, hosting, and Success Plan services, which are designed to achieve business outcomes through more efficient and effective use of the Company’s software. E365 revenues are recognized based upon usage incurred by the account under both Topics 606 and 605. Usage is defined as distinct user access on a daily basis. The term of E365 subscriptions aligns with calendar quarters and revenue is recognized based on actual usage.

Term license subscriptions — The Company provides annual, quarterly, and monthly term licenses for its software products. Term license subscriptions contain a term license component and SELECT maintenance and support. Revenue is allocated to the various performance obligations based on their SSP. Annual term licenses (“ATL”) are generally prepaid annually for named user access to specific products. Quarterly term license (“QTL”) subscriptions allow accounts to pay quarterly in arrears for license usage that is beyond their prepaid subscriptions. Monthly term license (“MTL”) subscriptions are identical to QTL subscriptions, except for the term of the license, and the manner in which they are monetized. MTL subscriptions require a Cloud Services Subscription (“CSS”), which is described below. For ATL, revenue allocated to the term license component is recognized upon delivery at the start of the subscription term while revenue for the SELECT maintenance and support is recognized as delivered over the subscription term. Billings in advance are recorded as Deferred revenues in the consolidated balance sheets. Under Topic 605, ATL revenues were recognized on a ratable basis, over the subscription term. For usage‑based QTL and MTL subscriptions, revenues are recognized based upon usage incurred by the account under both Topics 606 and 605. Usage is defined as peak usage over the respective terms. The terms of QTL and MTL subscriptions align with calendar quarters and calendar months, respectively, and revenue is recognized based on actual usage.

Visas and Passports are quarterly or annual term licenses enabling users to access specific project or enterprise information and entitles our users to certain functionality of the Company’s ProjectWise and AssetWise systems. The Company’s standard offerings are usage based with monetization through the Company’s CSS program as described below.

CSS is a program designed to streamline the procurement, administration, and payment process. The program requires an account to estimate their annual usage for CSS eligible offerings and deposit funds in advance. Actual consumption is monitored and invoiced against the deposit on a calendar quarter basis. CSS balances not utilized for eligible products or services may roll over to future periods or are refundable. Paid and unconsumed CSS balances are recorded in Accruals and other current liabilities in the consolidated balance sheets. Software and services consumed under CSS are recognized pursuant to the applicable revenue recognition guidance for the respective software or service and classified as subscriptions or services based on their respective nature.

Perpetual licenses

Perpetual licenses may be sold with or without attaching a SELECT subscription. Historically, attachment and retention of the SELECT subscription has been high given the benefits of the SELECT subscription. Perpetual license revenue is recognized upon delivery of the license to the user under Topic 606. Under Topic 605, the Company recognized perpetual licenses revenue ratably over a three‑year term due to the portfolio balancing feature users obtain through their SELECT subscriptions.

Services

The Company provides professional services including training, implementation, configuration, customization, and strategic consulting services. The Company performs projects on both a time and materials and a fixed fee basis. The Company’s recent and preferred contractual structures for delivering professional services include (i) delivery of the services in the form of subscription‑like, packaged offerings which are annually recurring in nature, and (ii) delivery of the Company’s growing portfolio of Success Plans in standard offerings which offer a level of subscription service over and above the standard technical support offered to all accounts as part of their SELECT or Enterprise agreement. Revenues are recognized as services are performed under Topics 606 and 605.

The Company primarily utilizes its direct internal sales force and also has arrangements through independent channel partners to promote and sell Bentley products and subscriptions to end‑users. Channel partners are authorized to promote the sale of an authorized set of Bentley products and subscriptions within an authorized geography under a Channel Partner Agreement.

Significant Judgments and Estimates

The Company’s contracts with customers may include promises to transfer licenses (perpetual or term‑based), maintenance, and services to a user. Judgment is required to determine if the promises are separate performance obligations, and if so, the allocation of the transaction price to each performance obligation. When an arrangement includes multiple performance obligations which are concurrently delivered and have the same pattern of transfer to the customer, the Company accounts for those performance obligations as a single performance obligation. For contracts with more than one performance obligation, the transaction price is allocated among the performance obligations in an amount that depicts the relative SSP of each obligation. Judgment is required to determine the SSP for each distinct performance obligation. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs. The Company uses a range of amounts to estimate SSP when it sells each of the products and services separately and needs to determine whether there is a discount that should be allocated based on the relative SSP of the various products and services.

The Company’s SELECT agreement provides users with perpetual licenses a right to exchange software for other eligible perpetual licenses on an annual basis upon renewal. The Company refers to this option as portfolio balancing and has concluded that the portfolio balancing feature represents a material right resulting in the deferral of the associated revenue. Judgment is required to estimate the percentage of users who may elect to portfolio balance and considers inputs such as historical user elections. This feature is available once per term and must be exercised prior to the respective renewal term. The Company recognizes the associated revenue upon election or when the portfolio balancing right expires. This right is included in the initial and subsequent renewal terms and the Company reestablishes the revenue deferral for the material right upon the beginning of the renewal term. As of December 31, 2020 and 2019, the Company has deferred $18,166 and $18,060, respectively, related to portfolio balancing exchange rights which is included in Deferred revenues in the consolidated balance sheets.

Contract Assets and Contract Liabilities


	December 31,
	2020		2019
Contract assets	$	446	$	644
Deferred revenues	209,314		213,145

As of December 31, 2020 and 2019, the Company’s contract assets relate to performance obligations completed in advance of the right to invoice and are included in Prepaid and other current assets in the consolidated balance sheets. Contract assets were not impaired as of December 31, 2020 or 2019.

Deferred revenues consist of billings made or payments received in advance of revenue recognition from subscriptions and professional services. The timing of revenue recognition may differ from the timing of billings to users.

For the year ended December 31, 2020, $203,682 of revenue that was included in the December 31, 2019 deferred revenue balance was recognized. There were additional deferrals of $193,999, which were primarily related to new billings. For the year ended December 31, 2019, $202,354 of revenue that was included in the January 1, 2019 deferred revenue opening balance was recognized. There were additional deferrals of $202,806, which were primarily related to new billings.

Remaining Performance Obligations

The Company’s contracts with customers include amounts allocated to performance obligations that will be satisfied at a later date. As of December 31, 2020, amounts allocated to these remaining performance obligations are $209,314, of which the Company expects to recognize 96.6% over the next 12 months with the remaining amount thereafter.

Disaggregation of Revenues

The following table details revenues:


	Year Ended December 31,
	2020		2019				2018
	Topic 606		Topic 606		Topic 605		Topic 605
Revenues:
Subscriptions:
SELECT subscriptions	$	270,749	$	267,249	$	267,340	$	273,745
Enterprise subscriptions	221,524		184,833		196,081		182,816
Term license subscriptions	187,000		156,218		150,504		100,860
Subscriptions	679,273		608,300		613,925		557,421
Perpetual licenses:
Perpetual licenses	57,382		59,693		52,519		61,065
Subscriptions and licenses	736,655		667,993		666,444		618,486
Services:
Professional services (recurring)	17,389		22,797		22,974		25,981
Professional services (other)	47,500		45,864		45,431		47,243
Services	64,889		68,661		68,405		73,224
Total revenues	$	801,544	$	736,654	$	734,849	$	691,710

The Company recognizes perpetual licenses and the term license component of subscriptions as revenue when either the licenses are delivered or at the start of the subscription term. For the years ended December 31, 2020 and 2019, the Company recognized $338,792 and $311,689 of license related revenues, respectively, of which $281,410 and $251,996, respectively, were attributable to the term license component of the Company’s subscription based commercial offerings recorded in Subscriptions in the consolidated statements of operations.

Under Topic 606, the Company derived 8% of its total revenues through channel partners for both the years ended December 31, 2020 and 2019. Under Topic 605, the Company derived 9% of its total revenues through channel partners for the year ended December 31, 2018.

Revenue to external customers is attributed to individual countries based upon the location of the customer.


	Year Ended December 31,
	2020		2019				2018
	Topic 606		Topic 606		Topic 605		Topic 605
Revenues:
Americas (1)	$	395,746	$	356,331	$	360,934	$	328,749
Europe, the Middle East, and Africa (“EMEA”) (2)	254,036		236,602		235,254		231,486
Asia-Pacific (“APAC”)	151,762		143,721		138,661		131,475
Total revenues	$	801,544	$	736,654	$	734,849	$	691,710

(1)Americas includes the U.S., Canada, and Latin America (including the Caribbean). Revenue attributable to the U.S. totaled $348,222 (Topic 606) for the year ended December 31, 2020, $306,493 (Topic 606) and $307,259 (Topic 605) for the year ended December 31, 2019, and $277,706 (Topic 605) for the year ended December 31, 2018.

(2)Revenue attributable to the United Kingdom (“U.K.”) totaled $64,433 (Topic 606) for the year ended December 31, 2020, $57,321 (Topic 606) and $59,524 (Topic 605) for the year ended December 31, 2019, and $59,086 (Topic 605) for the year ended December 31, 2018.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 606
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-Section 50
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-Section 50
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-Subparagraph (e)
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-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Acquisitions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions

For the years ended December 31, 2020, 2019, and 2018, the Company completed a number of acquisitions, none of which were material, individually or in the aggregate, to the Company’s consolidated statements of operations and financial position. The aggregate details of the Company’s acquisition activity are as follows:


	Acquisitions Completed in
	Year Ended December 31,
	2020		2019		2018
Number of acquisitions	6		4		7
Cash paid at closing (1)	$	98,298	$	36,577	$	143,038
Cash acquired	(5,266)		(2,523)		(7,774)
Net cash paid	$	93,032	$	34,054	$	135,264

(1)Of the cash paid at closing for the year ended December 31, 2020, $3,413 was deposited into an escrow account to secure any potential indemnification and other obligations of the seller.

The fair value of the contingent consideration from acquisitions is included in the consolidated balance sheets as follows:


	December 31,
	2020		2019
Accruals and other current liabilities	$	2,884	$	5,100
Other liabilities	1,415		1,499
Contingent consideration from acquisitions	$	4,299	$	6,599

The fair value of non-contingent consideration from acquisitions is included in the consolidated balance sheets as follows:


	December 31,
	2020		2019
Accruals and other current liabilities	$	685	$	900
Other liabilities	1,774		—
Non-contingent consideration from acquisitions	$	2,459	$	900

The operating results of the acquired businesses are included in the Company’s consolidated financial statements from the closing date of each respective acquisition. The purchase price for each acquisition has been allocated to the net tangible and intangible assets and liabilities based on their estimated fair values at the respective acquisition date. Independent valuations are obtained to support purchase price allocations when deemed appropriate.

In connection with the purchase price allocations related to the Company’s acquisitions, the Company has estimated the fair values of the support obligations assumed relative to acquired deferred revenue. The estimated fair values of the support obligations assumed were determined using a cost‑build‑up approach. The cost‑build‑up approach determines fair value by estimating the costs related to fulfilling the obligations plus a normal profit margin. For accounting purposes, the sum of the costs and operating profit approximates the amount that the Company would be required to pay a third party to assume the support obligations. These fair value adjustments reduce the revenues recognized over the remaining support contract term of the Company’s acquired contracts. For the years ended December 31, 2020, 2019, and 2018, the fair value adjustments to reduce revenue were $599, $553, and $2,469, respectively.

The purchase accounting for the six acquisitions completed for the year ended December 31, 2020 is not yet completed. Identifiable assets acquired and liabilities assumed were provisionally recorded at their estimated fair values on the respective acquisition date. The initial accounting for these business combinations is not complete because the evaluation necessary to assess the fair values of certain net assets acquired is still in process. The provisional amounts are subject to revision until the evaluations are completed to the extent that additional information is obtained about the facts and circumstances that existed as of the acquisition date. The allocation of the purchase price may be modified from the date of the acquisition as more information is obtained about the fair values of assets acquired and liabilities assumed, however such measurement period cannot exceed one year.

Acquisition and integration costs are expensed as incurred. For the years ended December 31, 2020, 2019, and 2018, the Company incurred acquisition and integration costs of $2,227, $950, and $1,361, respectively, which include costs related to legal, accounting, valuation, general administrative, and other consulting fees. Such costs are recorded in General and administrative in the consolidated statements of operations.

The following summarizes the fair values of the assets acquired and liabilities assumed, as well as the weighted average useful lives assigned to acquired intangible assets at the respective date of each acquisition (including contingent consideration):


	Acquisitions Completed in
	Year Ended December 31,
	2020		2019		2018
Consideration:
Cash paid at closing	$	98,298	$	36,577	$	143,038
Contingent consideration	2,380		4,498		13,456
Deferred, non-contingent consideration, net	1,416		—		690
Total consideration	$	102,094	$	41,075	$	157,184
Assets acquired and liabilities assumed:
Cash	$	5,266	$	2,523	$	7,774
Prepaid and other current assets	8,701		1,782		4,790
Operating lease right-of-use assets	2,529		—		—
Property and equipment	499		411		340
Other assets	36		84		—
Customer relationship asset (weighted average useful life of 6, 7, and 5 years, respectively)	11,371		6,534		27,294
Software and technology (weighted average useful life of 3 years)	2,207		2,423		9,332
In-process research and development	—		—		1,366
Non-compete agreement (useful life of 5 years)	200		150		—
Trademarks (weighted average useful life of 7, 5, and 7 years, respectively)	3,953		1,431		2,090
Total identifiable assets acquired excluding goodwill	34,762		15,338		52,986
Accruals and other current liabilities	(4,991)		(3,538)		(3,848)
Deferred revenues	(5,351)		(2,897)		(6,181)
Operating lease liabilities	(2,529)		—		—
Deferred income taxes	(1,701)		(1,869)		(8,917)
Other liabilities	(86)		—		—
Total liabilities assumed	(14,658)		(8,304)		(18,946)
Net identifiable assets acquired excluding goodwill	20,104		7,034		34,040
Goodwill	81,990		34,041		123,144
Net assets acquired	$	102,094	$	41,075	$	157,184

The fair values of the working capital, other assets (liabilities), and property and equipment approximated their respective carrying values as of the acquisition date.

As discussed above, the fair values of deferred revenues were determined using the cost‑build‑up approach.

The fair values of the intangible assets were primarily determined using the income approach. When applying the income approach, indications of fair values were developed by discounting future net cash flows to their present values at market‑based rates of return. The cash flows were based on estimates used to price the acquisitions and the discount rates applied were benchmarked with reference to the implied rate of return from the Company’s pricing model and the weighted average cost of capital.

Goodwill recorded in connection with the acquisitions was attributable to synergies expected to arise from cost saving opportunities, as well as future expected cash flows. Of the goodwill recorded as of December 31, 2020, $24,133 is expected to be deductible for tax purposes.

Acquisition Subsequent to December 31, 2020

In February 2021, the Company completed the acquisition of E7. The acquisition is not expected to be material to the Company’s consolidated statements of operations and financial position.

Property and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net consist of the following as of December 31, 2020 and 2019:


	December 31,
	2020		2019
Land	$	2,811	$	2,811
Building and improvements	33,094		31,619
Computer equipment and software	44,369		47,472
Furniture, fixtures, and equipment	12,849		12,593
Aircraft	4,075		3,910
Other	58		79
Property and equipment, at cost	97,256		98,484
Less: Accumulated depreciation	(68,842)		(68,852)
Total property and equipment, net	$	28,414	$	29,632

Depreciation expense for the years ended December 31, 2020, 2019, and 2018 was $10,166, $9,813, and $9,300, respectively.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows:


Balance, December 31, 2018	$	446,318
Acquisitions	34,041
Foreign currency translation adjustments	(321)
Other adjustments	27
Balance, December 31, 2019	480,065
Acquisitions	81,990
Foreign currency translation adjustments	19,195
Other adjustments	(76)
Balance, December 31, 2020	$	581,174

Details of intangible assets other than goodwill as of December 31, 2020 and 2019 are as follows:


		December 31, 2020						December 31, 2019
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Intangible assets subject to amortization:
Software and technology	3 years	$	67,691	$	(63,046)	$	4,645	$	66,063	$	(58,866)	$	7,197
Customer relationships	3-10 years	97,008		(66,030)		30,978		88,904		(59,744)		29,160
Trademarks	3-10 years	26,610		(16,888)		9,722		22,278		(12,461)		9,817
Non-compete agreements	5 years	350		(68)		282		150		(11)		139
Total intangible assets		$	191,659	$	(146,032)	$	45,627	$	177,395	$	(131,082)	$	46,313

The aggregate amortization expense for purchased intangible assets with finite lives recorded for the years ended December 31, 2020, 2019, and 2018 was reflected in our consolidated statements of operations as follows:


	Year Ended December 31,
	2020		2019		2018
Cost of subscriptions and licenses	$	4,981	$	3,795	$	2,840
Amortization of purchased intangibles	15,352		14,213		14,000
Total amortization expense	$	20,333	$	18,008	$	16,840

Amortization expense for the years following December 31, 2020 are estimated as follows:


2021	$	16,088
2022	12,975
2023	6,609
2024	3,316
2025	2,559
Thereafter	4,080
	$	45,627

Investments	12 Months Ended
Investments	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments In September 2020, the Company acquired an interest in a platform as a service technology company with a focus on digital twin integration in the energy sector, which the Company accounts for using the cost method. In September 2019, the Company and Topcon Positioning Systems, Inc. (“Topcon”) formed Digital Construction Works, Inc. (“DCW”), a joint venture which operates as a digital integrator of software and cloud services for the construction industry, which the Company accounts for using the equity method. DCW’s focus is to transform the construction industry from its legacy document‑centric paradigm by simplifying and enabling digital automated workflows and processes, technology integration, and digital twinning services for infrastructure. The Company and Topcon each have a 50% ownership in DCW. For the year ended December 31, 2020, the Company invested $3,440 in its cost method investment. The Company invested $3,000 in DCW in each of the years ended December 31, 2020 and 2019. As of December 31, 2020 and 2019, the carrying amount of the Company’s investment in DCW was $2,251 and $1,725, respectively. The Company tests its investments for impairment whenever circumstances indicate that the carrying value of the investment may not be recoverable. The Company’s investments were not impaired as of December 31, 2020 or 2019. Related Party Disclosures — Pursuant to ASC 850‑10‑20, Related Party Disclosures, the Company has determined that DCW is a related party. For the years ended December 31, 2020 and 2019, transactions between the Company and DCW were not material to the Company’s consolidated financial statements.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

The Company’s operating leases consist of office facilities, office equipment, and automobiles, and the Company’s finance lease consists of computer equipment. The finance lease is not material for the periods presented. As of December 31, 2020, the Company’s leases have remaining terms of less than one year to nine years, some of which include one or more options to renew, with renewal terms from one year to ten years and some of which include options to terminate the leases from less than one year to ten years.

For contracts with lease and non‑lease components, the Company has elected not to allocate the contract consideration, and account for the lease and non-lease components as a single lease component. Payments under the Company’s lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. Variable lease cost may include common area maintenance, property taxes, utilities, and fluctuations in rent due to a change in an index or rate. The Company has elected not to recognize a right‑of‑use asset or lease liability for short‑term leases (leases with a term of twelve months or less). Short‑term leases are recognized in the consolidated statement of operations on a straight‑line basis over the lease term. Short‑term lease expense was not material for the periods presented.

The components of operating lease cost reflected in the consolidated statement of operations for the year ended December 31, 2020 were as follows:


	Year Ended
	December 31, 2020
Operating lease cost (1)	$	18,194
Variable lease cost	3,881
Short-term lease cost	399
Total operating lease cost	$	22,474

(1)Operating lease cost includes rent cost related to operating leases for office facilities of $17,417 for the year ended December 31, 2020.

For the years ended December 31, 2019 and 2018, total rent expense related to operating leases recognized on straight‑line basis over the life of the lease under the prior lease standard (Topic 840) was $17,036 and $16,726, respectively.

Other information related to leases for the year ended December 31, 2020 was as follows:


	Year Ended
	December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18,384
Right-of-use assets obtained in exchange for new operating lease liabilities	$	15,522
Weighted average remaining lease term — operating leases (in years)	3.65
Weighted average discount rate — operating leases	2.14		%

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


	December 31, 2020
2021	$	17,666
2022	13,859
2023	8,801
2024	4,715
2025	3,528
Thereafter	1,983
Total future lease payments	50,552
Less: Imputed interest	(2,175)
Total operating lease liabilities	$	48,377

As of December 31, 2020, the Company had additional operating lease minimum lease payments of $1,368 for executed leases that have not yet commenced, primarily for office locations.

As of December 31, 2019, under the prior lease standard (Topic 840), future minimum lease payments under non‑cancelable operating leases are as follows:


	December 31, 2019
2020	$	15,886
2021	13,186
2022	10,385
2023	6,572
2024	3,216
Thereafter	2,771
Total minimum lease payments	$	52,016

Total financing lease liabilities as of December 31, 2020 were $296. Supplemental balance sheet information related to the financing lease as of December 31, 2020 is as follows:


	December 31, 2020
Property and equipment	$	572
Accumulated depreciation	(229)
Property and equipment, net	$	343

Accruals and other current liabilities	$	197
Other liabilities	99
Total financing lease liabilities	$	296

Leases

The components of operating lease cost reflected in the consolidated statement of operations for the year ended December 31, 2020 were as follows:


	Year Ended
	December 31, 2020
Operating lease cost (1)	$	18,194
Variable lease cost	3,881
Short-term lease cost	399
Total operating lease cost	$	22,474

(1)Operating lease cost includes rent cost related to operating leases for office facilities of $17,417 for the year ended December 31, 2020.

Other information related to leases for the year ended December 31, 2020 was as follows:


	Year Ended
	December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18,384
Right-of-use assets obtained in exchange for new operating lease liabilities	$	15,522
Weighted average remaining lease term — operating leases (in years)	3.65
Weighted average discount rate — operating leases	2.14		%

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


	December 31, 2020
2021	$	17,666
2022	13,859
2023	8,801
2024	4,715
2025	3,528
Thereafter	1,983
Total future lease payments	50,552
Less: Imputed interest	(2,175)
Total operating lease liabilities	$	48,377

As of December 31, 2020, the Company had additional operating lease minimum lease payments of $1,368 for executed leases that have not yet commenced, primarily for office locations.

As of December 31, 2019, under the prior lease standard (Topic 840), future minimum lease payments under non‑cancelable operating leases are as follows:


	December 31, 2019
2020	$	15,886
2021	13,186
2022	10,385
2023	6,572
2024	3,216
Thereafter	2,771
Total minimum lease payments	$	52,016

Total financing lease liabilities as of December 31, 2020 were $296. Supplemental balance sheet information related to the financing lease as of December 31, 2020 is as follows:


	December 31, 2020
Property and equipment	$	572
Accumulated depreciation	(229)
Property and equipment, net	$	343

Accruals and other current liabilities	$	197
Other liabilities	99
Total financing lease liabilities	$	296

Accruals and Other Current Liabilities

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accruals and Other Current Liabilities

Accruals and other current liabilities consist of the following:


	December 31,
	2020		2019
CSS deposits	$	110,291	$	54,688
Accrued benefits	36,613		33,184
Accrued compensation	22,131		31,537
Due to customers	9,869		8,945
Accrued hosting costs	7,988		2,215
Accrued severance and realignment costs	7,209		1,688
Sales taxes payable	6,361		5,287
Accrued acquisition stay bonuses	5,599		4,143
Accrued professional fees	4,210		4,382
Contingent consideration from acquisitions	2,884		5,100
Accrued facility costs	2,095		2,168
Non-contingent consideration from acquisitions	685		900
Accrued rent	—		1,909
Other accrued and current liabilities	10,858		11,371
Total accruals and other current liabilities	$	226,793	$	167,517

Long‑Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-term Debt

Long‑Term Debt

Long‑term debt consists of the following as of December 31, 2020 and 2019:


	December 31,
	2020		2019
Bank credit facility:
Senior secured revolver	$	246,000	$	233,750
Total long‑term debt	$	246,000	$	233,750

Bank Credit Facility — On December 19, 2017, the Company entered into an amended and restated credit agreement (the “Credit Facility”), which matures on December 18, 2022. Upon entry into the Credit Facility, the Company obtained a $500,000 senior secured revolving facility and refinanced all indebtedness outstanding under its prior facility. Subsequent to December 31, 2020, the Company refinanced its Credit Facility (see Note 25).

On September 2, 2020, the Company entered into the First Amendment to the Credit Facility, which provided a new term loan of $125,000 (the “Term Loan”) with a maturity of December 18, 2022 and included certain other amendments, including the addition of a mandatory prepayment provision requiring the Company to prepay borrowings under the Credit Facility in an aggregate amount equal to the net proceeds from any underwritten public offering by the Company, which prepayment shall be applied, first, to the Term Loan and, second, to any borrowings outstanding under the revolving facility under the Credit Facility without reducing the revolving commitments thereof. The Company used borrowings under the Term Loan and under the revolving facility under the Credit Facility to pay the Special Dividend declared by the Company’s board of directors on August 28, 2020 (see Note 13). In November 2020, the Company used a portion of the net proceeds from the Follow‑On Offering to repay the $125,000 Term Loan (see Note 13).

In addition to the revolving line of credit, the Credit Facility also provides up to $50,000 of letters of credit and other incremental borrowings subject to availability, including a $50,000 multi‑currency swing‑line sub‑facility and a $100,000 incremental “accordion” sub‑facility. The Company had $150 and $546 of letters of credit and surety bonds outstanding as of December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019, the Company had $253,850 and $265,704, respectively, available under the Credit Facility.

Under the Credit Facility, the Company may make either Euro currency or non‑Euro currency interest rate elections. Interest on the Euro currency borrowings is at the one‑month LIBOR plus a spread ranging from 100 basis points (“bps”) to 225 bps as determined by the Company’s net leverage ratio. Under the non‑Euro currency elections, Credit Facility borrowings bear a base interest rate of the greater of (i) the prime rate, (ii) the overnight bank funding effective rate plus 50 bps, or (iii) LIBOR plus 100 bps, plus a spread ranging from 0 bps to 125 bps as determined by the Company’s leverage ratio. In addition, a commitment fee for the unused Credit Facility ranges from 15 bps to 30 bps as determined by the Company’s net leverage ratio.

Borrowings under the Credit Facility are guaranteed by all of the Company’s first tier domestic subsidiaries and are secured by a first priority security interest in substantially all of the Company’s and the guarantors’ U.S. assets and 65% of the stock of their directly owned foreign subsidiaries. The Credit Facility contains both affirmative and negative covenants, including maximum leverage ratios. As of December 31, 2020 and 2019, the Company was in compliance with all covenants in its debt agreements.

Interest rate risk associated with the Credit Facility is managed through an interest rate swap which the Company executed on March 31, 2020. The swap has an effective date of April 2, 2020 and a termination date of April 2, 2030. Under the terms of the swap, the Company fixed its LIBOR borrowing rate at 0.73% on a notional amount of $200,000. The interest rate swap is not designated as a hedging instrument for accounting purposes. The Company accounts for the swap as either an asset or a liability on the consolidated balance sheet and carries the derivative at fair value. Gains and losses from the change in fair value are recognized in Other income (expense), net in the consolidated statement of operations. As of December 31, 2020, the Company recorded a swap related asset at fair value of $347 in Other assets in the consolidated balance sheet.

The weighted average interest rate under the Credit Facility was 1.92%, 3.47%, and 3.28% for the years ended December 31, 2020, 2019, and 2018, respectively. There were no accrued interest or fees as of December 31, 2020 and 2019. Interest expense was $6,878, $8,971, and $8,800 for the years ended December 31, 2020, 2019, and 2018, respectively.

For the year ended December 31, 2020, the Company incurred $432 of debt issuance costs related to the Term Loan. In addition, interest expense includes amortization of deferred financing costs of $553 for both the years ended December 31, 2020 and 2019 and $552 for the year ended December 31, 2018.

Other — Interest expense related to other obligations was $50, $207, and $255 for the years ended December 31, 2020, 2019, and 2018, respectively.

Convertible Debt — In January 2021, the Company completed an offering of convertible debt (see Note 25).

Executive Bonus Plan	12 Months Ended
Executive Bonus Plan	Dec. 31, 2020
Compensation Related Costs [Abstract]
Executive Bonus Plan	Executive Bonus Plan Certain of the Company’s key employees, including its named executive officers, participate in the Bentley Systems, Incorporated Bonus Pool Plan, as amended and restated, effective as of September 3, 2020 (the “Bonus Plan”). Pursuant to the Bonus Plan, participants are eligible to receive incentive bonuses that are determined based on the Company’s adjusted Management Report Operating Income (“MROI”), as defined in the plan agreement and before deduction for such plan payments. For purposes of the Bonus Plan, the bonus pool thereunder may be funded with up to an aggregate of 20% of the Company’s adjusted MROI, subject to approval by the board of directors, with payments made to plan participants based on each such participant’s allocated interest in the bonus pool. The plan permits the deduction of certain holdback amounts from the plan’s pool, from which amounts can then be allocated to fund items including equity and/or cash incentive compensation for non‑plan participants and participant charitable contributions. A participant may defer any portion, or all, of such participant’s incentive bonus payable pursuant to the Bonus Plan into the DCP (see Note 12). Prior to September 3, 2020, a participant’s non‑deferred incentive bonus was payable in cash. On September 3, 2020, the Company amended and restated the Bonus Plan to provide, in part, that a participant may elect to receive any portion, or all, of such participant’s non‑deferred incentive bonus in the form of shares of fully vested Class B Common Stock issued under the Bentley Systems, Incorporated 2020 Omnibus Incentive Plan (the “2020 Incentive Award Plan”) beginning in the fourth quarter of 2020, subject to the limitation described below. The Company records the election of non‑deferred incentive bonus in the form of shares of fully vested Class B Common Stock as stock‑based compensation expense in the consolidated statement of operations (see Note 15). Such election must be made prior to the start of the applicable calendar quarter for which the incentive bonus is to be paid, and the number of shares of Class B Common Stock payable in respect of such elected amount is calculated using a volume-weighted average price of the Company’s Class B Common Stock for the period commencing on the tenth trading day prior to the end of the applicable calendar quarter and ending on the tenth trading day following the end of the applicable calendar quarter. Notwithstanding participants’ elections to receive shares of fully vested Class B Common Stock in respect of their non‑deferred incentive bonus payments, if, in any calendar quarter, the aggregate U.S. Dollar value of shares of fully vested Class B Common Stock payable in respect of the non‑deferred incentive bonuses exceeds $7,500, the portion of each participant’s non‑deferred incentive bonus payable in shares of fully vested Class B Common Stock will be reduced pro rata such that the $7,500 limit is not exceeded, and, for each affected participant, the amount of such reduction will be payable in cash. For the years ended December 31, 2020, 2019, and 2018, the incentive compensation, including cash payments, election to receive shares of fully vested Class B Common Stock beginning in the fourth quarter of 2020, and deferred compensation to plan participants, recognized under this plan (net of all applicable holdbacks) was $34,340, $31,061, and $27,641, respectively.

Retirement Plans	12 Months Ended
Retirement Plans	Dec. 31, 2020
Retirement Benefits [Abstract]
Retirement Benefits	Retirement PlansThe Company maintains a qualified 401(k) profit‑sharing plan (the “Plan”) for the benefit of substantially all U.S.‑based full‑time colleagues. The Company may make discretionary profit‑sharing contributions to the Plan up to a maximum of 5% of “qualified cash compensation” for each eligible participating colleague. Non‑discretionary (matching) 401(k) contributions to the Plan, for full‑time U.S. colleagues, were $3,583, $3,311, and $3,337, for the years ended December 31, 2020, 2019, and 2018, respectively. The Company also maintains various retirement benefit plans (primarily defined contribution plans) for colleagues of its international subsidiaries. Contributions to these plans were $7,347, $8,070, and $7,613, for the years ended December 31, 2020, 2019, and 2018, respectively. The Company also has a nonqualified DCP, which was amended and restated effective September 22, 2020, under which certain officers and key colleagues may defer all or any part of their incentive compensation, and the Company may make discretionary awards on behalf of such participants. Elective participant deferrals and discretionary Company awards are required to be in the form of phantom shares of the Company’s Class B Common Stock, which are valued for tax and accounting purposes in the same manner as actual shares of Class B Common Stock. The Company’s discretionary awards made prior to January 1, 2016 vest 20% on the date of grant and 20% on each of the four subsequent anniversary dates. The Company’s discretionary awards made on or after January 1, 2016 are 100% vested at the time of grant. No discretionary contributions were made to the DCP for the years ended December 31, 2020, 2019, and 2018. Pursuant to the terms of the DCP, in connection with the Special Dividend (see Note 13) declared on August 28, 2020, participants received 2,709,851 phantom shares in lieu of the Special Dividend. As of December 31, 2020 and 2019, phantom shares issuable by the DCP were 30,590,955 and 30,768,633, respectively. Amounts in the DCP attributable to certain non‑colleague participants are settled in cash and are classified as liabilities which are marked to market at the end of each reporting period. The total liability related to the DCP for non‑colleague participants was $2,591 and $2,544 as of December 31, 2020 and 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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+ Details

Common Stock

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Common Stock

Initial Public Offering

On September 25, 2020, the Company completed its IPO. The selling stockholders sold 12,360,991 shares of Class B Common Stock at a public offering price of $22.00 per share. The Company did not sell any shares in the IPO and did not receive any of the proceeds from the sale of the Class B Common Stock sold by the selling stockholders. For the year ended December 31, 2020, the Company recorded $26,130 in Expenses associated with initial public offering in the consolidated statement of operations. These expenses included certain non‑recurring costs relating to the Company’s IPO, consisting of the payment of underwriting discounts and commissions applicable to the sale of shares by the selling stockholders, professional fees, and other expenses.

In connection with the IPO, the Company’s amended and restated Certificate of Incorporation authorizes shares of undesignated preferred stock. See below for further detail.

Authorized Common Shares — Upon the closing of the IPO, the Company’s amended and restated Certificate of Incorporation authorizes the Company to issue up to 100,000,000 shares of Class A Common Stock and up to 1,800,000,000 shares of Class B Common Stock. Prior to the IPO, the Company amended and restated its Certificate of Incorporation on April 20, 2018 to authorize 320,000,000 shares of Class A Common Stock and 600,000,000 shares of Class B Common Stock. As of December 31, 2020 and 2019, outstanding shares of Class A Common Stock totaled 11,601,757. As of December 31, 2020 and 2019, outstanding shares of Class B Common Stock totaled 260,552,747 and 243,241,192, respectively.

Follow-On Public Offering

On November 17, 2020, the Company completed its Follow‑On Offering of 11,500,000 shares of Class B Common Stock at a public offering price of $32.00 per share. The Company sold 9,603,965 shares of Class B Common Stock (inclusive of 1,500,000 shares sold upon the exercise by the underwriters of their option to purchase additional shares of the Company’s Class B Common Stock). The selling stockholders sold 1,896,035 shares of Class B Common Stock. The Company received net proceeds of $294,429 after deducting expenses of $12,898. The Company did not receive any of the proceeds from the sale of the Class B Common Stock sold by the selling stockholders. Expenses associated with the Follow‑On Offering included certain non‑recurring costs, consisting of the payment of underwriting discounts and commissions applicable to the sale of shares by the Company, professional fees, and other expenses. The Company agreed to pay certain expenses in connection with the Follow‑On Offering on behalf of the selling stockholders and made an accounting policy election to offset these expenses against the Follow‑On Offering proceeds. The Follow‑On Offering net proceeds were used to repay outstanding borrowings under the Term Loan and revolving facility of the Company’s Credit Facility (see Note 10).

Sales, Repurchases, and Issuances of Company Capital Stock

In September 2016, the Company entered into a Class B Common Stock Purchase Agreement with a strategic investor (the “Common Stock Purchase Agreement”), pursuant to which the investor could acquire in a series of transactions up to $200,000 of the Company’s Class B Common Stock at the then prevailing fair market value, either directly from selling stockholders, in which case the Company would act as pass through agent, or by funding the Company’s repurchase and subsequent sale to the investor of shares acquired by the Company from existing Company stockholders.

The Common Stock Purchase Agreement grants to the strategic investor certain informational and protective rights, including, for so long as the Company remains party to a long-term strategic collaboration agreement with the investor, a pre‑IPO right of first refusal on any sale of the Company and a post‑IPO right to participate in any sale process the Company may undertake. The strategic investor’s right of first refusal terminated upon the effectiveness of the Company’s IPO registration statement.

On April 23, 2018, the Company entered into an amendment to the Common Stock Purchase Agreement, which (i) increased the maximum purchase amount from $200,000 to $250,000 thereunder, (ii) extended the expiration of the agreement from 2026 to 2030, and (iii) granted the Company the right to retain a portion of the shares that would otherwise be sold to the investor.

For the year ended December 31, 2020, the investor purchased 4,574,399 shares under the Common Stock Purchase Agreement, with 3,769,346 of such shares having been repurchased by the Company and re‑sold to the investor for consideration of $58,349 and 805,053 shares acquired directly by the investor for consideration of $12,462. During the year ended December 31, 2020, the investor reached the maximum purchase amount of $250,000.

For the year ended December 31, 2019, the investor purchased 791,873 shares under the Common Stock Purchase Agreement, with 622,873 of such shares having been repurchased by the Company and re‑sold to the investor for consideration of $4,510 and 169,000 shares acquired directly by the investor for consideration of $1,224.

For the year ended December 31, 2018, the investor purchased 5,151,019 shares under the Common Stock Purchase Agreement, with 2,139,466 of such shares having been repurchased by the Company and re‑sold to the investor for consideration of $16,220 and 3,011,553 shares acquired directly by the investor for consideration of $22,792.

For the year ended December 31, 2020, the Company issued 4,060,839 shares of Class B Common Stock to colleagues who exercised their stock options, net of shares withheld at exercise. Of the total stock options exercised for 5,486,191 shares, 1,425,352 shares were sold back to the Company to pay for the cost of the stock options, as well as applicable income tax withholdings of $4,755. Of the total stock options exercised, 1,063,204 shares were issued for cash totaling $9,128. For the year ended December 31, 2020, the Company paid $1,454 for 128,007 shares sold back to the Company upon exercise of the Put and Call provisions under the Amended and Restated 2015 Equity Incentive Plan (the “2015 Equity Incentive Plan”) (see Note 15).

For the year ended December 31, 2019, the Company issued 3,214,542 shares of Class B Common Stock to colleagues who exercised their stock options, net of shares withheld at exercise. Of the total stock options exercised for 4,731,158 shares, 1,516,616 shares were sold back to the Company to pay for the cost of the stock options, as well as applicable income tax withholdings of $2,324. Of the total stock options exercised, 1,273,271 shares were issued for cash totaling $3,627. For the year ended December 31, 2019, the Company paid $8,838 for 1,126,747 shares sold back to the Company upon exercise of the Put and Call provisions under its applicable equity incentive plans (see Note 15).

For the year ended December 31, 2018, the Company issued 2,812,998 shares of Class B Common Stock to colleagues who exercised their stock options, net of shares withheld at exercise. Of the total stock options exercised for 3,726,606 shares, 913,608 shares were sold back to the Company to pay for the cost of the stock options, as well as applicable income tax withholdings of $1,577. Of the total stock options exercised, 1,235,204 shares were issued for cash totaling $2,187. For the year ended December 31, 2018, the Company paid $8,571 for 1,131,928 shares sold back to the Company upon exercise of the Put and Call provisions under its applicable equity incentive plans (see Note 15).

Upon the completion of the IPO, the Put and Call provisions of the Company’s 2015 Equity Incentive Plan terminated automatically.

For the years ended December 31, 2020, 2019, and 2018, the Company issued 3,081,607, 2,322,983, and 2,332,585 shares of Class B Common Stock to DCP participants in connection with distributions from the plan. The distribution in shares for the year ended December 31, 2020 totaled 3,352,931 shares of which 271,324 shares were sold back to the Company in the same period to pay for applicable income tax withholdings of $4,625. The distribution in shares for the year ended December 31, 2019 totaled 3,082,607 shares of which 759,624 shares were sold back to the Company to pay for the cost of applicable income tax withholding of $5,609. The distribution in shares for the year ended December 31, 2018 totaled 3,340,904 shares of which 1,008,319 shares were sold back to the Company to pay for the cost of applicable income tax withholding of $6,861.

For the years ended December 31, 2020, 2019, and 2018, the Company repurchased 549,834, 318,203, and 465,979 shares from its profit‑sharing plan for $6,970, $2,417, and $3,387, respectively.

Selected Terms of Class A Common Stock and Class B Common Stock — Upon the closing of the IPO, the rights of the holders of Class A Common Stock and Class B Common Stock are identical, except with respect to voting and conversion rights. Each share of Class B Common Stock is entitled to one vote per share, while each share of Class A Common Stock is entitled to 29 votes per share and is convertible at any time into one share of Class B Common Stock. Class A Common Stock will automatically convert into Class B Common Stock upon certain transfers, and its votes per share will be reduced to 11 in the event none of the Bentleys, as defined, serves as a Company director or executive officer. Class A Common Stock also will automatically convert into shares of Class B Common Stock upon the affirmative vote of at least 90% of the then outstanding shares of Class A Common Stock or such time that the Bentley family, as defined, collectively, directly or indirectly, own less than 20% of the issued and outstanding Class B Common Stock on a fully-diluted basis (assuming the conversion of all issued and outstanding Class A Common Stock). Pursuant to the terms of the Company’s amended and restated Certificate of Incorporation in effect prior to the IPO, each share of Class B Common Stock had the same rights and privileges as each share of Class A Common Stock, except that the holders of outstanding shares of Class B Common Stock did not have any right to vote on, or consent with respect to, any matters to be voted on or consented to by the stockholders of the Company except as was required by law, and the shares of Class B Common Stock were not included in determining the number of shares voting or entitled to vote on any such matters.

Selected Terms of Preferred Stock — Upon the closing of the IPO, the Company’s amended and restated Certificate of Incorporation authorizes the Company to issue up to 100,000,000 shares of preferred stock. Preferred stock has rights, preferences, and privileges which may be designated from time to time by the Company’s board of directors. As of December 31, 2020, there were no shares of preferred stock outstanding.

Dividends — The Company declared cash dividends during the periods presented as follows:


	Dividend
	Per Share		Amount
2020:
Fourth quarter	$	0.030	$	8,270
Third quarter (1)	1.530		400,311
Second quarter	0.030		7,771
First quarter	0.030		7,666
Total	$	1.620	$	424,018
2019:
Fourth quarter	$	0.025	$	6,367
Third quarter	0.025		6,380
Second quarter	0.025		6,375
First quarter	0.025		6,268
Total	$	0.100	$	25,390
2018:
Fourth quarter	$	0.020	$	4,990
Third quarter	0.020		5,016
Second quarter	0.020		5,020
First quarter	0.020		4,979
Total	$	0.080	$	20,005

(1)On August 28, 2020, the Company’s board of directors declared a Special Dividend of $1.50 per share of the Company’s common stock ($392,489 in the aggregate) payable to all stockholders of record as of August 31, 2020, including dividends which accrue on certain unvested restricted stock and RSUs. In connection with the Special Dividend declaration, an in kind adjustment was made to phantom shares issuable pursuant to the DCP (see Note 12) and the exercise price of all outstanding stock options at that time were reduced by $1.50, but not lower than $0.01 (see Note 15).

Global Employee Stock Purchase Plan — Effective September 22, 2020, the Company’s Board and its stockholders adopted and approved the Bentley Systems, Incorporated Global Employee Stock Purchase Plan (the “ESPP”). The ESPP provides eligible colleagues of the Company with an opportunity to contribute up to 15% of their eligible compensation, up to a maximum of $25 per year and subject to any other plan limitations, toward the purchase of the Company’s Class B Common Stock at a discounted price. The ESPP has 25,000,000 shares of Class B Common Stock reserved for issuance. The ESPP will be implemented by means of consecutive offering periods, with the first offering period commencing on the first trading day on or after January 1, 2021 and ending on the last trading day on or before June 30, 2021. Unless otherwise determined by the board of directors, offering periods will run from January 1st (or the first trading day thereafter) through June 30th (or the first trading day prior to such date), and from July 1st (or the first trading day thereafter) through December 31st (or the first trading day prior to such date). The purchase price per share at which shares of Class B Common Stock are sold in an offering period under the ESPP will be equal to the lesser of 85% of the fair market value of a share of Class B Common Stock (i) on the first trading day of the offering period, or (ii) on the purchase date (i.e., the last trading day of the purchase period). As of December 31, 2020, no shares were issued under the ESPP.

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following:


	Foreign		Actuarial (Loss)
	Currency		Gain on
	Translation		Retirement Plan		Total
Balance, December 31, 2017	$	(17,847)	$	(693)	$	(18,540)
Other comprehensive (loss) income, before taxes	(11,020)		208		(10,812)
Tax expense	—		(62)		(62)
Other comprehensive (loss) income, net of taxes	(11,020)		146		(10,874)
Balance, December 31, 2018	(28,867)		(547)		(29,414)
Other comprehensive income (loss), before taxes	5,959		(675)		5,284
Tax benefit	—		203		203
Other comprehensive income (loss), net of taxes	5,959		(472)		5,487
Balance, December 31, 2019	(22,908)		(1,019)		(23,927)
Other comprehensive (loss) income, before taxes	(2,311)		6		(2,305)
Tax expense	—		(1)		(1)
Other comprehensive (loss) income, net of taxes	(2,311)		5		(2,306)
Balance, December 31, 2020	$	(25,219)	$	(1,014)	$	(26,233)

Equity Awards and Instruments

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Equity Awards and Instruments

Effective September 22, 2020, the Company adopted and approved the 2020 Incentive Award Plan. The 2020 Incentive Award Plan provides for the granting of stock, stock options, restricted stock, RSUs, and other stock‑based or performance‑based awards to certain directors, officers, colleagues, consultants, and advisors of the Company. The 2020 Incentive Award Plan provides that the total number of shares of Class B Common Stock that may be issued under the 2020 Incentive Award Plan is 25,000,000 (the “Absolute Share Limit”); provided, however, that the Absolute Share Limit is automatically increased on the first day of each fiscal year in an amount equal to the lower of 1% of the total number of shares of Class B Common Stock outstanding on the last day of the immediately preceding fiscal year and a lower number of shares of Class B Common Stock as determined by the Company’s board of directors. The 2020 Incentive Award Plan terminates in September 2030. Equity awards that are expired, canceled, forfeited, or terminated for any reason will be available for future grant under the 2020 Incentive Award Plan. As of December 31, 2020, equity awards available for future grants under the 2020 Incentive Award Plan were 24,904,235.

The Company also has equity awards outstanding under its 2015 Equity Incentive Plan which provided for the granting of awards in the form of stock options, stock appreciation rights, dividend equivalent rights, restricted stock, RSUs, and stock grants. The 2015 Equity Incentive Plan had 50,000,000 shares of Class B Common Stock reserved for issuance and terminates in November 2024. Following the completion of the IPO, no further awards may be granted under the 2015 Equity Incentive Plan.

Equity Awards

Stock Options — Stock options generally vest ratably on each of the first four anniversaries of the grant date. Prior to the IPO, stock options granted under the 2015 Equity Incentive Plan included Put and Call provisions that allowed colleagues who have exercised an option to sell all or part of their shares acquired upon such exercise to the Company at the fair market value at the time of the sale. The exercise period for the Put right began on the second day after the six‑month anniversary of the date the option was exercised and ended after an additional 30 days. The Call right provision allowed the Company to purchase all or a part of the shares acquired by a colleague upon exercise of an option, at the fair market value at the time of such purchase. The Company could exercise the Call right at any time within seven months of the later of i) the optionee’s termination of service with the Company, or ii) the optionee’s (or his or her beneficiary’s) exercise of such option after a termination of service. These Put and Call rights terminated upon the completion of the IPO.

In accordance with the terms of the 2015 Equity Incentive Plan, in connection with the payment of the Special Dividend of $1.50 per share of the Company’s common stock on September 2, 2020, the Company equitably reduced the exercise price of each outstanding stock option granted under the 2015 Equity Incentive Plan by $1.50, but not lower than $0.01 (see Note 13).

Stock Grants — Under the equity incentive plans, the Company may grant unrestricted, fully vested shares of Class B Common Stock to eligible colleagues. Prior to the IPO, any such shares awarded had Put and Call rights similar to those described above with respect to stock options, which terminated upon the completion of the IPO.

Restricted Stock and RSUs — Under the equity incentive plans, the Company may grant both time and performance‑based shares of restricted Class B Common Stock and RSUs to eligible colleagues. Shares of restricted stock have voting rights and, subject to the terms of the award agreements, the time‑based restricted stock awards generally accrue declared dividends which are paid upon vesting. RSUs, which may be cash or share‑settled depending on the award, do not have voting rights, but, subject to the terms of the award agreements, generally accrue declared dividends which are paid upon vesting. Certain historical RSUs granted in 2016 under the Company’s 2015 Equity Incentive Plan have dividend equivalent rights and do not accrue cash dividends. Recipients of the Company’s outstanding performance‑based restricted stock awards and RSUs are paid dividends prior to vesting.

Stock-Based Compensation Expense

Total stock‑based compensation expense was as follows:


	Year Ended December 31,
	2020		2019		2018
IPO vested restricted stock and RSU expense	$	15,102	$	—	$	—
Bonus Plan expense (see Note 11)	6,524		—		—
Stock option expense	6,858		6,342		4,808
Restricted stock and RSU expense	4,248		1,749		3,074
Stock grants expense	319		—		—
Total pre-tax expense (1)	$	33,051	$	8,091	$	7,882

(1)As of December 31, 2020, $6,835 remained in Accruals and other current liabilities in the consolidated balance sheet.

Total stock‑based compensation expense is included in the consolidated statements of operations as follows:


	Year Ended December 31,
	2020		2019		2018
Cost of subscriptions and licenses	$	960	$	115	$	44
Cost of services	2,939		522		362
Research and development	12,105		3,107		2,971
Selling and marketing	6,692		2,210		2,337
General and administrative	10,355		2,137		2,168
Total pre-tax expense	$	33,051	$	8,091	$	7,882

Stock-based compensation expense is measured at the grant date fair value of the award and is recognized ratably over the requisite service period, which is generally the vesting period. The Company accounts for forfeitures of equity awards as those forfeitures occur.

The fair value of the common stock during periods prior to the IPO was determined by the board of directors at each award grant date based upon a variety of factors, including the results obtained from independent third‑party valuations, the Company’s financial position, and historical financial performance.

Stock Options

The fair value of each stock option award was estimated on the date of grant using the Black‑Scholes option pricing model. The determination of the fair value of share‑based payment awards using an option pricing model is affected by the Company’s stock price, as well as assumptions regarding a number of complex and subjective variables, which are estimated as follows:

Expected volatility. The expected stock price volatility for the Company’s common stock was estimated by using the average historic price volatility for industry peers based on daily price observations over a period equivalent to the expected term of the stock option grants. The Company intends to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information regarding the volatility of the Company’s own common stock share price becomes available.

Expected dividend yield. The expected dividend yield is calculated by dividing the Company’s annual dividend, based on the most recent quarterly dividend rate, by the Company’s common stock price (as described above) on the grant date.

Risk‑free interest rate. The risk‑free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the stock options at the time of grant.

Expected term. The expected term represents the period that the Company’s stock‑based awards are expected to be outstanding. The expected term is based on the simplified method, which represents the average period from vesting to the expiration of the award.


	Year Ended December 31,
	2020	2019	2018
Expected volatility	31.04%	29.57%	26.32% – 27.18%
Expected dividend yield	1.11%	1.38%	1.18%
Risk-free interest rate	1.31%	2.48%	2.40%
Expected term (in years)	3.75	3.75	3.75
Weighted average grant date fair value of stock options issued	$2.49	$1.66	$1.46

The following is a summary of stock option activity and related information under the Company’s applicable equity incentive plans and after giving effect to the $1.50 downward exercise price adjustment as a result of the Special Dividend:


				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Stock	Exercise Price		Contractual	Intrinsic
	Options	Per Share		Life (in years)	Value
Outstanding, December 31, 2019	18,691,667	$	4.47
Granted	10,000	9.34
Exercised	(5,486,191)	3.47
Canceled	(373,250)	5.33
Outstanding, December 31, 2020	12,842,226	$	4.87	2.06	$	457,650
Exercisable, December 31, 2020	6,327,541	$	4.42	1.47	$	228,378

For the years ended December 31, 2020, 2019, and 2018, the Company received cash proceeds of $9,128, $3,612, and $2,179, respectively, related to the exercise of stock options. The total intrinsic value of stock options exercised for the years ended December 31, 2020, 2019, and 2018 was $72,275, $22,914, and $18,291, respectively.

As of December 31, 2020, there was $6,897 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of approximately 2.2 years.

Acquisition Options — In addition to stock options granted under the Company’s equity incentive plans, in connection with an acquisition completed in March 2018, the Company issued to certain selling shareholder entities options to acquire an aggregate of up to 900,000 shares of Class B Common Stock. The options have a five‑year term, are exercisable on the fourth anniversary of the closing of the acquisition, and have an initial exercise price of $6.805 per share. The options have a four‑year service condition, which was incorporated into the Company’s Call rights. The exercise price of the options is subject to a cap and collar adjustment mechanism that automatically reduces (but not to less than $0.01) or increases the exercise price based on the difference between the exercise price and the fair market value of the Company’s Class B Common Stock on the exercise date. The fair value of the awards was estimated on the date of grant using the Black‑Scholes option pricing model. The grant date fair value of each option was $3.44. Any shares of Class B Common Stock acquired upon exercise of the options were generally entitled to the Put and Call rights summarized above under “Stock Options,” and the options contain customary adjustment provisions in case of stock splits, stock dividends, or other corporate transactions. Upon the completion of the IPO, the Put and Call provisions, as well as the incorporated service condition, of the Company’s acquisition options terminated automatically and as such, the Company accelerated $1,548 of previously unrecognized stock‑based compensation associated with these options for the year ended December 31, 2020. The Company recorded a total of $2,012 of stock‑based compensation expense associated with these options for the year ended December 31, 2020. As of December 31, 2020, all options to acquire 900,000 shares remain outstanding. As of December 31, 2020, these options are non‑exercisable and have an aggregate intrinsic value of $7,992.

Stock Grants

The fair value of stock grants is determined by the product of the number of fully vested Class B Common Stock granted and the Company’s common stock price (as described above) on the grant date. The total expense related to stock grants is recognized on the grant date as the issued award is fully vested.

The Company granted 21,956 fully vested shares of Class B Common Stock with a fair value of $319 for the year ended December 31, 2020. The Company did not grant fully vested shares of Class B Common Stock during 2019 and 2018.

Restricted Stock and RSUs

The fair value of restricted stock and RSUs is determined by the product of the number of shares granted and the Company’s common stock price (as described above) on the grant date.

The following is a summary of unvested restricted stock and RSU activity and related information under the Company’s applicable equity incentive plans:


		Weighted Average
	Restricted	Grant Date
	Stock	Fair Value
	and RSUs	Per Share
Unvested, December 31, 2019	210,111	$	6.79
Granted	2,481,670	16.03
Vested	(1,148,656)	14.58
Canceled	(88,371)	10.06
Unvested, December 31, 2020	1,454,754	$	16.17


	Restricted
	Stock	Restricted
Grant Date	and RSUs	Stock	RSUs		Vesting Terms
Q1 2020	12,454	12,454	—		Time‑based
Q3 2020	185,324	175,004	10,320		Performance-based (1)
Q3 2020	1,197,760	698,540	499,220	(2)	Time-based
Q3 2020	994,912	962,674	32,238	(3)	Upon the Company’s completion of the IPO on September 25, 2020
Q4 2020	12,435	1,667	10,768		Performance-based (1)
Q4 2020	78,785	13,485	65,300		Time‑based
2020 total granted	2,481,670	1,863,824	617,846

(1)Performance‑based vesting is determined by the achievement of certain business growth targets, which include growth in annual recurring revenues, as well as actual bookings for perpetual licenses and non‑recurring services. Annual performance targets are seasonalized and targets are set for quarterly and annual performance periods ended on December 31, 2020.

(2)Includes 46,300 RSUs that will be settled in cash.

(3)32,238 RSUs will be settled in cash.

The weighted average grant date fair values of restricted stock and RSUs granted were $16.03, $7.24, and $6.81, for the years ended December 31, 2020, 2019, and 2018, respectively.

For the years ended December 31, 2020, 2019, and 2018, restricted stock and RSUs were issued net of 339,833, 54,418, and 81,173 shares, respectively, which were sold back to the Company to settle applicable income tax withholdings of $7,951, $399, and $637, respectively.

As of December 31, 2020, there was $19,420 of unrecognized compensation cost related to unvested restricted stock and RSUs, excluding cash‑settled restricted stock and RSUs, which is expected to be recognized over a weighted average period of approximately 3.6 years.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The components of income before income taxes consist of the following:


	Year Ended December 31,
	2020		2019		2018
Domestic	$	61,470	$	61,691	$	56,426
International	106,150		66,418		56,436
Income before income taxes	$	167,620	$	128,109	$	112,862

The (provision) benefit for income taxes consists of the following:


	Year Ended December 31,
	2020		2019		2018
Current:
Federal	$	(11,094)	$	(7,696)	$	(18,634)
State	(3,597)		(2,486)		(873)
Foreign	(7,688)		(12,824)		(11,303)
	(22,379)		(23,006)		(30,810)
Deferred:
Federal	(5,194)		(2,389)		7,655
State	(1,272)		(412)		(508)
Foreign	(9,780)		2,069		52,913
	(16,246)		(732)		60,060
(Provision) benefit for income taxes	$	(38,625)	$	(23,738)	$	29,250

A reconciliation of the U.S. statutory federal income tax rate to the Company’s effective income tax rate is as follows:


	Year Ended December 31,
	2020		2019		2018
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	2.9		2.0		0.9
Permanent book/tax differences	(0.6)		0.2		(0.2)
Stock‑based compensation	(5.2)		(2.3)		(2.4)
Non-deductible officer compensation	4.6		—		—
Expenses associated with IPO	3.3		—		—
Tax credits	(2.1)		(3.6)		(3.3)
Foreign tax rate differential	(2.0)		(2.8)		(4.2)
Income tax reserves	(0.5)		0.9		(0.2)
Intercompany sales of certain operating assets	—		—		(41.1)
Net tax on foreign earnings (GILTI/FDII/FTC)	0.5		6.1		—
Other	1.1		(3.0)		(0.2)
U.S. tax reform	—		—		3.8
Effective income tax rate	23.0	%	18.5	%	(25.9)	%

During 2018, the Company had intercompany sales of certain intangible operating assets between its foreign subsidiaries. The sales resulted in a 2018 net tax benefit of $46,369 in accordance with the January 1, 2018 early adoption of ASU 2016‑16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.

The following is a summary of the significant components of the Company’s deferred tax assets and liabilities:


	December 31,
	2020		2019
Deferred tax assets:
Accrued compensation	$	31,580	$	36,195
Net operating loss (“NOL”) and credit carryforwards	7,573		11,544
Intangible assets including goodwill	283		10,371
Other accruals not currently deductible	346		960
Allowance for doubtful accounts	382		472
Other comprehensive income	431		394
Lease liabilities	10,466		—
Other	138		239
Total deferred tax assets	51,199		60,175
Less: Valuation allowance	(1,207)		(2,329)
Net deferred tax assets	49,992		57,846
Deferred tax liabilities:
Deferred revenues	(7,257)		(12,830)
Property and equipment	(1,989)		(707)
Operating lease right-of-use assets	(10,070)		—
Prepaid expenses	(2,301)		(1,501)
Total deferred tax liabilities	(21,617)		(15,038)
Net deferred tax assets (liabilities)	$	28,375	$	42,808

As of December 31, 2020, the U.S. federal NOL carryforwards with a future benefit of $533 expire in 2033 through 2036. The Canadian credit carryforwards of $1,798 have an indefinite carryforward. The Company’s state NOL carryforwards and state credit carryforwards with a future benefit of $667 expire in 2021 through 2036. In addition, the Company has foreign NOL and credit carryforwards with a future benefit of $4,286 (net of a $289 valuation allowance), which predominately have indefinite expirations.

Some transactions can change the aggregate ownership of certain stockholders, which could cause a shift in the ownership of the Company, which pursuant to Internal Revenue Code (“IRC”) Section 382 could then limit on an annual basis the Company’s ability to utilize its U.S. federal NOL carryforwards (and possibly its state NOL carryforwards as well). If that occurred, the Company’s NOL carryforwards would continue to be available to offset taxable income and tax liabilities in future years (until such NOL carryforwards are either used or expire) subject to any IRC Section 382 annual limitation.

The Company regularly assesses the need for a valuation allowance against its deferred tax assets by considering both positive and negative evidence related to whether it is more likely than not that the deferred tax assets will be realized. In evaluating the need for a valuation allowance, the Company considers a cumulative loss in recent years as a significant piece of negative evidence.

As of December 31, 2020 and 2019, the Company has recorded a valuation allowance against its net deferred tax assets of $1,207 and $2,329, respectively. The valuation allowance is principally related to the losses from a joint venture for which the Company has determined that realization is not more likely than not.

On December 22, 2017, the JOBS Act was enacted. U.S. tax reform, among other things, reduces the U.S. federal income tax rate to 21% from 35% in 2018, institutes a dividends received deduction for foreign earnings with a related tax for the deemed repatriation of unremitted foreign earnings, and creates a new U.S. minimum tax on earnings of foreign subsidiaries. The Company completed its accounting for the effects of the JOBS Act in 2018 and has included those effects in (Provision) benefit for income taxes in the consolidated statement of operations. The Company will elect to pay the liability for the deemed repatriation of foreign earnings in installments, as specified by the JOBS Act.

Additionally, the JOBS Act requires certain Global Intangible Low‑Taxed Income (“GILTI”) earned by a controlled foreign corporation (“CFC”) to be included in the gross income of the CFC’s U.S. shareholder. The Company has elected the “period cost method” and treats taxes due on future U.S. inclusions in taxable income related to GILTI as a current‑period expense when incurred. The JOBS Act allows a U.S. corporation a deduction equal to a certain percentage of its foreign‑derived intangible income (“FDII”). The Company estimated the impact of the GILTI tax and FDII deduction in determining its 2019 annual effective tax rate that is reflected in its provision for income taxes for the year ended December 31, 2019.

As of December 31, 2020, the Company has accumulated undistributed earnings generated by its foreign subsidiaries of approximately $427,696, of which $329,315 was subject to the one‑time transition tax on foreign earnings required by the JOBS Act and the tax on GILTI. The Company intends to indefinitely reinvest these earnings, as well as future earnings from its foreign subsidiaries, in order to fund its international operations. In addition, the Company expects future U.S. cash generation will be sufficient to meet future U.S. cash needs. The Company has not provided for any additional outside basis difference inherent in its foreign subsidiaries, as these amounts continue to be indefinitely reinvested in foreign operations. Determining the amount of unrecognized deferred tax liability related to any additional outside basis difference in these entities is not practicable.

In accordance with the indefinite reversal criteria, the foreign currency translation adjustments recorded in other comprehensive income (loss) related to the foreign currency translations have not been tax effected.

The following is a reconciliation of the total amounts of unrecognized tax benefits:


	Year Ended December 31,
	2020		2019		2018
Unrecognized tax benefit, beginning of year	$	1,763	$	638	$	872
Tax positions related to prior years:
Additions	1,436		1,222		80
Reductions	(1,723)		(86)		(39)
Lapse of statute of limitations	(253)		(11)		(275)
Unrecognized tax benefit, end of year	$	1,223	$	1,763	$	638

The amount of unrecognized tax benefits as of December 31, 2020, 2019, and 2018 was $1,223, $1,763, and $638, respectively, of which $1,175, $1,733, and $627, respectively, would impact the Company’s effective tax rate if recognized. Interest expense and penalties related to income taxes resulted in a reduction of income tax expense of $20 for the year ended December 31, 2020 and an increase of income tax expense of $101 and $8 for the years ended December 31, 2019 and 2018, respectively. Interest expense and penalties are included in (Provision) benefit for income taxes in the consolidated statements of operations. Accrued interest and penalties as of December 31, 2020 and 2019 totaled $272, $362, and $252, respectively. The Company records the amount of uncertain taxes expected to be paid in the next 12 months as a current liability and records the remaining amount in Other liabilities in the consolidated balance sheets.

The Company is subject to income tax in the U.S., as well as numerous state and foreign jurisdictions. The Company settled its audit in the U.K. for years 2014 through 2017. The Company had adequately provided for any adjustments that resulted from the tax examination. The Company is currently under audit in the U.K. for 2018. The Company’s 2018 through 2020 tax years remain subject to examination by the Irish Revenue Commissioners for Irish tax purposes. The Company’s U.S. consolidated federal income tax returns for years 2017 through 2020 remain subject to examination by the Internal Revenue Service. In addition, the Company is under audit in various other foreign taxing jurisdictions that are not material to the consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Derivatives Not Designated As Hedging Instrument

On March 31, 2020, the Company entered into an interest rate swap with a notional amount of $200,000 and a ten‑year term to reduce the interest rate risk associated with the Company’s Credit Facility. The interest rate swap is not designated as a hedging instrument for accounting purposes. The Company accounts for the swap as either an asset or a liability on the consolidated balance sheet and carries the derivative at fair value. Gains and losses from the change in fair value are recognized in Other income (expense), net and payments related to the swap are recognized in Interest expense, net in the consolidated statements of operations. For the year ended December 31, 2020, the Company recorded a gain of $347 in Other income (expense), net and total payments recognized in Interest expense, net related to the swap were $696.

In November 2018, the Company entered into an agreement with financial institutions to purchase call options to buy British pounds (“GBP”) with a notional amount of 65,000 GBP at a strike price of $1.375. The call options were purchased at a premium of $645. The call options were not designated as a hedging instrument for accounting purposes. The gains or losses from changes in the fair value of such derivative instruments are recognized in Other income (expense), net in the consolidated statements of operations. The fair value of the call options in the consolidated balance sheets was $0 as of December 31, 2019. The call options had an expiration date of February 28, 2019.

Fair Value

The Company applies the provisions of ASC Topic 820, Fair Value Measurement, for fair value measurements of financial assets and financial liabilities and for fair value measurements of non‑financial items that are recognized or disclosed at fair value in the consolidated financial statements.

The Company’s financial instruments include cash equivalents, account receivables, certain other assets, accounts payable, accruals, certain other current and long‑term liabilities, and long‑term debt.

The carrying values of the Company’s financial instruments excluding long‑term debt approximate their fair value due to the short‑term nature of those instruments. Additionally, as of December 31, 2020 and 2019, the fair value of the Company’s long‑term debt approximated its carrying value based upon discounted cash flows at current market rates for instruments with similar remaining terms. The Company considers these valuation inputs to be Level 2 inputs in the fair value hierarchy. Considerable judgment is necessary to interpret the market data and develop estimates of fair values. Accordingly, the estimates presented are not necessarily indicative of the amounts at which these instruments could be purchased, sold, or settled.

A financial asset or liability classification is determined based on the lowest level input that is significant to the fair value measurement. The fair value hierarchy consists of the following three levels:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument.

Level 3 inputs are unobservable inputs based on management’s own assumptions used to measure assets and liabilities at fair value.

The following tables provide the financial assets and financial liabilities carried at fair value measured on a recurring basis:


December 31, 2020	Level 1		Level 2		Level 3		Total
Assets:
Money market funds (1)	$	34,696	$	—	$	—	$	34,696
Interest rate swap (2)	—		347		—		347
Total assets	$	34,696	$	347	$	—	$	35,043
Liabilities:
Acquisition contingent consideration (3)	$	—	$	—	$	4,299	$	4,299
Deferred compensation plan (4)	2,591		—		—		2,591
Cash-settled equity awards (5)	195		—		—		195
Total liabilities	$	2,786	$	—	$	4,299	$	7,085


December 31, 2019	Level 1		Level 2		Level 3		Total
Assets:
Money market funds (1)	$	70,000	$	—	$	—	$	70,000
Total assets	$	70,000	$	—	$	—	$	70,000
Liabilities:
Acquisition contingent consideration (3)	$	—	$	—	$	6,599	$	6,599
Deferred compensation plan (4)	2,544		—		—		2,544
Total liabilities	$	2,544	$	—	$	6,599	$	9,143

(1)Included in Cash and cash equivalents in the consolidated balance sheets.

(2)Included in Other assets in the consolidated balance sheet.

(3)Included in Other liabilities, except for current liabilities of $2,884 and $5,100 as of December 31, 2020 and 2019, respectively, which are included in Accruals and other current liabilities in the consolidated balance sheets. Acquisition contingent consideration liability is measured at fair value and is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions the Company believes would be made by a market participant.

(4)Included in Other liabilities, except for current liabilities of $169 and $153 as of December 31, 2020 and 2019, respectively, which are included in Accruals and other current liabilities in the consolidated balance sheets.

(5)Included in Accruals and other current liabilities in the consolidated balance sheet.

The following table is a reconciliation of the changes in fair value of the Company’s financial liabilities which have been classified as Level 3 in the fair value hierarchy for the years ended December 31, 2020 and 2019.


	Year Ended December 31,
	2020		2019
Balance, beginning of year	$	6,599	$	4,316
Payments	(3,425)		(2,513)
Addition	2,380		4,498
Reclassification	—		180
Change in fair value	(1,340)		62
Foreign currency translation adjustments	85		56
Balance, end of year	$	4,299	$	6,599

The Company did not have any transfers between levels within the fair value hierarchy.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitment — In the normal course of business, the Company enters into various purchase commitments for goods and services. As of December 31, 2020, the non‑cancelable future cash purchase commitment for services related to the provisioning of the Company’s hosted software solutions was $82,810 through May 2023. The Company expects to fully consume its contractual commitment in the ordinary course of operations. Operating Leases — The Company leases certain facilities, automobiles, and equipment under operating leases having initial or remaining non‑cancelable terms in excess of one year (see Note 8). Litigation — From time to time, the Company is involved in certain legal actions arising in the ordinary course of business. In management’s opinion, based upon the advice of counsel, the outcome of such actions is not expected to have a material adverse effect on the Company’s future financial position, results of operations, or cash flows.

Geographic Data

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Geographic Data

Revenues by geographic area are presented as part of the discussion in Note 3. The following table presents the Company’s long‑lived assets, net of depreciation and amortization by geographic region (see Notes 5, 6, and 8).


	December 31,
	2020		2019
Long-lived assets:
Americas (1)	$	50,306	$	34,758
EMEA	56,322		34,039
APAC	13,541		7,148
Total long-lived assets	$	120,169	$	75,945

(1)Americas includes the U.S., Canada, and Latin America (including the Caribbean).

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Interest Expense, Net

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Interest Expense, Net

Interest expense, net is comprised of the following:


	Year Ended December 31,
	2020		2019		2018
Interest expense	$	(7,913)	$	(9,731)	$	(9,607)
Interest income	437		1,532		842
Total interest expense, net	$	(7,476)	$	(8,199)	$	(8,765)

Other Income (Expense), Net

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Other Income (Expense), Net

Other income (expense), net is comprised of the following:


	Year Ended December 31,
	2020		2019		2018
Foreign exchange gain (loss) (1)	$	22,919	$	(5,591)	$	(418)
Other income (expense), net (2)	2,027		34		654
Total other income (expense), net	$	24,946	$	(5,557)	$	236

(1)Foreign exchange gain (loss) is primarily attributable to foreign currency translation derived primarily from U.S. Dollar denominated cash and cash equivalents, account receivables, and intercompany balances held by foreign subsidiaries. Intercompany finance transactions denominated in U.S. Dollars resulted in unrealized foreign exchange gains (losses) of $22,310 and $(5,270) for the years ended December 31, 2020 and 2019, respectively. For the year ended December 31, 2018, the foreign exchange loss includes a loss of $487 relating to the remeasurement of a derivative instrument (see Note 17).

(2)Other income (expense), net includes a gain from the change in fair value of the Company’s interest rate swap of $347 and a gain from the change in fair value of acquisition contingent consideration of $1,340 for the year ended December 31, 2020, respectively (see Note 17). For the year ended December 31, 2018, other income (expense), net includes a gain of $707 relating to insurance proceeds received in excess of the net book value of the replaced assets.

Realignment Costs

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Realignment Costs

During the third quarter of 2020, the Company initiated a strategic realignment program in order to better serve the Company’s users and to better align resources with the evolving needs of the business (the “2020 Program”). The Company incurred realignment costs of $10,046 for the year ended December 31, 2020 related to the aforementioned program, which represents termination benefits for colleagues whose positions were eliminated. The 2020 Program activities have been broadly implemented across the Company’s various businesses with substantially all actions expected to be completed in early 2021.

Accruals and other current liabilities in the consolidated balance sheets included amounts related to the realignment activities as follows:


	Year Ended December 31,
	2020						2019
	2020 Program		Prior Program		Total		Prior Program
Balance, beginning of year	$	—	$	491	$	491	$	6,437
Realignment costs	10,046		(24)		10,022		(584)
Payments	(4,278)		(264)		(4,542)		(5,326)
Adjustments (1)	292		(23)		269		(36)
Balance, end of year	$	6,060	$	180	$	6,240	$	491

(1)Adjustments includes foreign currency translation.

Realignment costs by expense classification were as follows:


	Year Ended December 31,
	2020		2019		2018
Cost of revenues:
Cost of subscriptions and licenses	$	42	$	(51)	$	256
Cost of services	1,422		(185)		845
Total cost of revenues	1,464		(236)		1,101
Operating expenses:
Research and development	848		(171)		3,380
Selling and marketing	5,945		(263)		2,252
General and administrative	1,765		86		45
Total operating expenses	8,558		(348)		5,677
Total realignment costs	$	10,022	$	(584)	$	6,778

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Earnings per share (“EPS”) of Class A and Class B Common Stock amounts are computed using the two‑class method required for participating securities. The Company issues certain restricted stock awards determined to be participating securities because holders of such shares have non‑forfeitable dividend rights in the event of the Company’s declaration of a dividend for common shares. As of December 31, 2020, 2019, and 2018, there were 149,754, 321,126, and 198,242 participating securities outstanding, respectively.

Undistributed earnings allocated to participating securities are subtracted from net income in determining net income attributable to common stockholders. Basic EPS is computed by dividing net income attributable to common stockholders by the weighted average number of shares of Class A and Class B Common Stock outstanding, inclusive of undistributed shares of the Company’s Class B Common Stock held in the DCP as phantom shares.

For the calculation of diluted EPS, net income attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities, including awards under the Company’s equity compensation plans. Diluted EPS attributable to common stockholders is computed by dividing net income attributable to common stockholders by the weighted average number of fully diluted common shares outstanding.

Except with respect to voting and conversion, the rights of the holders of the Company’s Class A Common Stock and the Company’s Class B Common Stock are identical. Each class of shares has the same rights to dividends and allocation of income (loss) and, therefore, earnings per share would not differ under the two‑class method. The details of basic and diluted EPS are as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2020		2019		2018
Numerator:
Net income	$	126,521	$	103,096	$	142,112
Less: Net income attributable to participating securities	(234)		(8)		(4)
Net income attributable to Class A and Class B common stockholders	$	126,287	$	103,088	$	142,108
Denominator:
Denominator for basic net income per share—weighted average shares	289,863,272		284,625,642		285,805,096
Effect of dilutive securities	9,507,857		9,171,065		6,819,400
Denominator for dilutive net income per share—weighted average shares	299,371,129		293,796,707		292,624,496
Net income per share, basic	$	0.44	$	0.36	$	0.50
Net income per share, diluted	$	0.42	$	0.35	$	0.49

No shares were excluded from the computation of diluted net income per share attributable to common stockholders for the years ended December 31, 2020, 2019, and 2018.

Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information (Unaudited)

Selected quarterly financial information for the years ended December 31, 2020 and 2019 are as follows (in thousands, except per share amounts):


	First		Second		Third			Fourth		Total
	Quarter		Quarter		Quarter			Quarter		Year
2020
Total revenues	$	194,690	$	184,290	$	202,997		$	219,567	$	801,544
Gross profit	157,431		147,585		160,369			169,004		634,389
Income from operations	45,961		44,591		5,323		(2)	54,275		150,150
Provision for income taxes	7,176		4,264		10,705			16,480		38,625
Net income	$	29,669	$	39,076	$	5,844	(2)	$	51,932	$	126,521
Net income per share, basic (1)	$	0.10	$	0.14	$	0.02	(2)	$	0.17	$	0.44
Net income per share, diluted (1)	$	0.10	$	0.13	$	0.02	(2)	$	0.17	$	0.42

2019
Total revenues	$	177,539	$	169,605	$	186,588		$	202,922	$	736,654
Gross profit	144,972		132,974		151,537			163,021		592,504
Income from operations	38,290		19,468		41,402			42,705		141,865
Provision for income taxes	4,318		801		6,640			11,979		23,738
Net income	$	26,437	$	19,981	$	20,427		$	36,251	$	103,096
Net income per share, basic (1)	$	0.09	$	0.07	$	0.07		$	0.13	$	0.36
Net income per share, diluted (1)	$	0.09	$	0.07	$	0.07		$	0.13	$	0.35

(1)Net income per share was computed independently for each of the periods presented; therefore the sum of the net income per share amount for the quarters may not equal the total year.

(2)During the third quarter of 2020, the Company recorded $15,445 total pre‑tax stock‑based compensation expense related to the restricted stock and RSUs that vested as a result of the IPO and $26,130 of pre‑tax expenses associated with the IPO.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Bank Credit Facility — On January 25, 2021, the Company entered into an amended and restated credit agreement, which matures on November 15, 2025 (the “New Credit Facility”). Upon entry into the New Credit Facility, the Company obtained a $850,000 senior secured revolving facility and refinanced all indebtedness outstanding under its Credit Facility (see Note 10). Convertible Debt — On January 26, 2021, the Company completed an offering of $690,000 of 0.125% convertible senior notes due 2026 (the “2026 Notes”). Interest will accrue from January 26, 2021 and will be payable twice a year with the first payment due on July 15, 2021. The Company used $25,530 of the net proceeds from the sale of the 2026 Notes to pay the cost of the capped call transactions described further below and approximately $250,500 to repay outstanding indebtedness under the Credit Facility and to pay related fees and expenses. The Company intends to use the remainder of the net proceeds from the sale of the 2026 Notes for general corporate purposes, which may include funding future acquisitions. The Company may apply all or a portion of the net proceeds for the acquisition of businesses, software solutions, and technologies that the Company believes are complementary to its own, although the Company has no agreements, commitments, or understandings with respect to any specific material acquisition at this time. The Company has not allocated any specific portion of the net proceeds to any particular purpose and its management will have the discretion to allocate the proceeds as it determines. The Company incurred $18,030 of expenses in connection with the 2026 Notes offering consisting of the payment of underwriting discounts and commissions, professional fees, and other expenses. Noteholders may convert all or a portion of their 2026 Notes at their option only in the following circumstances: (1) during any calendar quarter (and only during such quarter) commencing after the calendar quarter ending on June 30, 2021, if the last reported sale price per share of the Company’s Class B Common Stock exceeds 130% of the conversion price for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; (2) during the five consecutive business days immediately after any ten consecutive trading day period (such ten consecutive trading day period, the “measurement period”) in which the trading price per $1 principal amount of 2026 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company’s Class B Common Stock on such trading day and the conversion rate on such trading day; (3) upon the occurrence of certain corporate events or distributions on the Company’s Class B Common Stock, as described in the offering memorandum; (4) if the Company calls the 2026 Notes for redemption; and (5) at any time from, and including, October 15, 2025 until the close of business on the second scheduled trading day immediately before the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, shares of the Company’s Class B Common Stock or a combination of cash and shares of the Company’s Class B Common Stock, at the Company’s election, based on the applicable conversion rate. The initial conversion rate is 15.5925 shares of the Company’s Class B Common Stock per $1 principal amount of 2026 Notes, which represents an initial conversion price of approximately $64.13 per share, and is subject to adjustment as described in the offering memorandum. If a “make-whole fundamental change” (as defined in the offering memorandum) occurs, then the Company will, in certain circumstances, increase the conversion rate for a specified period of time. The 2026 Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after January 20, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest, if any, but only if the last reported sale price per share of the Company’s Class B Common Stock exceeds 130% of the conversion price on (1) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company’s sends the related redemption notice; and (2) the trading day immediately before the date the Company sends such notice. In addition, calling any 2026 Note for redemption will constitute a make‑whole fundamental change with respect to that 2026 Note, in which case the conversion rate applicable to the conversion of that 2026 Note will be increased in certain circumstances if it is converted after it is called for redemption and prior to the close of business on the second business day immediately before the related redemption date. In connection with the pricing of the 2026 Notes, the Company entered into capped call transactions with certain of the initial purchasers or their respective affiliates and certain other financial institutions (the “option counterparties”). The capped call transactions are expected generally to reduce potential dilution to the Company’s Class B Common Stock upon any conversion of 2026 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions will initially be $72.9795 per share, which represents a premium of 65% above the last reported sale price per share of the Company’s Class B Common Stock on the Nasdaq Global Select Market on January 21, 2021 and is subject to customary adjustments under the terms of the capped call transactions.

Organization, Consolidation and Presentation of Financial Statements (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Consolidation — The consolidated financial statements and accompanying notes have been prepared in United States (“U.S.”) Dollars and in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Consolidation	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company is party to a joint venture, which is accounted for using the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company’s principal subsidiaries are Bentley Systems International Limited (Ireland), Bentley Software International, Limited (Bermuda), Bentley Canada Inc. (Canada), Bentley Systems Europe BV (the Netherlands), Bentley Systems Pty Ltd. (Australia), Bentley Systems Co., Ltd. (Japan), Bentley Systems Germany GmbH (Germany), Bentley Systems Ltd. (UK), and Bentley Systems India Private Limited (India).
Use of Estimates	Use of Estimates — The preparation of consolidated financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company’s significant estimates and assumptions include revenue recognition, adequacy of allowance for accounts receivable, determination of the fair value of acquired assets and liabilities, the fair value of derivative financial instruments, the fair value of common stock (prior to the Company’s IPO) and stock‑based compensation, operating lease assets and liabilities, useful lives for depreciation and amortization, impairment of goodwill and intangible assets, and accounting for income taxes. Actual results could differ materially from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents — The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. As of December 31, 2020 and 2019, all of the Company’s cash and cash equivalents consisted of money market funds and cash held in checking accounts maintained at various financial institutions. Cash equivalents are recorded at cost, which approximates fair value.
Revenues	Revenues — On January 1, 2019, the Company adopted Accounting Standards Update (“ASU”) No. 2014‑09, Revenue from Contracts with Customers, and related amendments (“Topic 606”). Results for reporting periods beginning on or after January 1, 2019 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the guidance provided by Accounting Standards Codification (“ASC”) 985‑605, Software‑Revenue Recognition, and revenues for non‑software deliverables in accordance with Topic 605‑25, Revenue Recognition, Multiple‑Element Arrangements. The Company refers to ASC 985‑605 and Topic 605‑25 collectively as “Topic 605.” For a detailed description of the Company’s revenue recognition accounting policies and for the qualitative and quantitative discussion regarding the impact of Topic 606 adoption, see Note 3. Cost of Revenues — Cost of subscriptions and licenses includes salaries and other related costs, including the depreciation of property and equipment and the amortization of capitalized software costs associated with servicing software subscriptions, the amortization of intangible assets associated with acquired software and technology, channel partner compensation for providing sales coverage to subscribers, as well as cloud‑related costs incurred for servicing our customers using cloud deployed hosted solutions and those using our SELECT subscription offering. Cost of services includes salaries for internal and third‑party personnel and related overhead costs, including depreciation of property and equipment, for providing training, implementation, configuration, and customization services to customers, amortization of capitalized software costs, and related out‑of‑pocket expenses incurred. Nature of Products and Services The Company generates revenues from subscriptions, perpetual licenses, and professional services. Subscriptions SELECT subscriptions — A prepaid annual recurring subscription that accounts (which are based on distinct contractual and billing relationships with the Company, where affiliated entities of a single parent company may each have an independent account with the Company) can elect to add to a new or previously purchased perpetual license. SELECT provides accounts with benefits, including upgrades, comprehensive technical support, pooled licensing benefits, annual portfolio balancing exchange rights, learning benefits, certain Azure‑based cloud collaboration services, mobility advantages, and access to other available benefits. Under Topic 606, SELECT subscription revenues are recognized as distinct performance obligations are satisfied. The performance obligations within the SELECT offering, outside of the portfolio balancing exchange right, are concurrently delivered and have the same pattern of recognition. These performance obligations are accounted for ratably over the term as a single performance obligation. Under Topic 605, SELECT subscriptions revenue was recognized on a ratable basis, over the subscription term. Enterprise subscriptions — The Company also provides Enterprise subscription offerings which provide its largest accounts with complete and unlimited global access to the Company’s comprehensive portfolio of solutions. Enterprise License Subscriptions (“ELS”) provide access for a prepaid fee, which is based on the account’s usage of software in the preceding year, to effectively create a fee‑certain consumption‑based arrangement. ELS contain a term license component, SELECT maintenance and support, and performance consulting days. The SELECT maintenance and support benefits under ELS do not include a portfolio balancing performance obligation. Revenue is allocated to the various performance obligations based on their respective standalone selling price (“SSP”). Revenue allocated to the term license component is recognized upon delivery at the start of the subscription term while revenues for the SELECT maintenance and support and the performance consulting days are recognized as delivered over the subscription term. Billings in advance are recorded as Deferred revenues in the consolidated balance sheets. Under Topic 605, ELS revenue was recognized on a ratable basis, over the subscription term. Enterprise 365 (“E365”) subscriptions, which were introduced during the fourth quarter of 2018, provide unrestricted access to the Company’s comprehensive software portfolio, similar to ELS, however, the accounts are charged based upon daily usage. The daily usage fee includes a term license component, SELECT maintenance and support, hosting, and Success Plan services, which are designed to achieve business outcomes through more efficient and effective use of the Company’s software. E365 revenues are recognized based upon usage incurred by the account under both Topics 606 and 605. Usage is defined as distinct user access on a daily basis. The term of E365 subscriptions aligns with calendar quarters and revenue is recognized based on actual usage. Term license subscriptions — The Company provides annual, quarterly, and monthly term licenses for its software products. Term license subscriptions contain a term license component and SELECT maintenance and support. Revenue is allocated to the various performance obligations based on their SSP. Annual term licenses (“ATL”) are generally prepaid annually for named user access to specific products. Quarterly term license (“QTL”) subscriptions allow accounts to pay quarterly in arrears for license usage that is beyond their prepaid subscriptions. Monthly term license (“MTL”) subscriptions are identical to QTL subscriptions, except for the term of the license, and the manner in which they are monetized. MTL subscriptions require a Cloud Services Subscription (“CSS”), which is described below. For ATL, revenue allocated to the term license component is recognized upon delivery at the start of the subscription term while revenue for the SELECT maintenance and support is recognized as delivered over the subscription term. Billings in advance are recorded as Deferred revenues in the consolidated balance sheets. Under Topic 605, ATL revenues were recognized on a ratable basis, over the subscription term. For usage‑based QTL and MTL subscriptions, revenues are recognized based upon usage incurred by the account under both Topics 606 and 605. Usage is defined as peak usage over the respective terms. The terms of QTL and MTL subscriptions align with calendar quarters and calendar months, respectively, and revenue is recognized based on actual usage. Visas and Passports are quarterly or annual term licenses enabling users to access specific project or enterprise information and entitles our users to certain functionality of the Company’s ProjectWise and AssetWise systems. The Company’s standard offerings are usage based with monetization through the Company’s CSS program as described below. CSS is a program designed to streamline the procurement, administration, and payment process. The program requires an account to estimate their annual usage for CSS eligible offerings and deposit funds in advance. Actual consumption is monitored and invoiced against the deposit on a calendar quarter basis. CSS balances not utilized for eligible products or services may roll over to future periods or are refundable. Paid and unconsumed CSS balances are recorded in Accruals and other current liabilities in the consolidated balance sheets. Software and services consumed under CSS are recognized pursuant to the applicable revenue recognition guidance for the respective software or service and classified as subscriptions or services based on their respective nature. Perpetual licenses Perpetual licenses may be sold with or without attaching a SELECT subscription. Historically, attachment and retention of the SELECT subscription has been high given the benefits of the SELECT subscription. Perpetual license revenue is recognized upon delivery of the license to the user under Topic 606. Under Topic 605, the Company recognized perpetual licenses revenue ratably over a three‑year term due to the portfolio balancing feature users obtain through their SELECT subscriptions. Services The Company provides professional services including training, implementation, configuration, customization, and strategic consulting services. The Company performs projects on both a time and materials and a fixed fee basis. The Company’s recent and preferred contractual structures for delivering professional services include (i) delivery of the services in the form of subscription‑like, packaged offerings which are annually recurring in nature, and (ii) delivery of the Company’s growing portfolio of Success Plans in standard offerings which offer a level of subscription service over and above the standard technical support offered to all accounts as part of their SELECT or Enterprise agreement. Revenues are recognized as services are performed under Topics 606 and 605. The Company primarily utilizes its direct internal sales force and also has arrangements through independent channel partners to promote and sell Bentley products and subscriptions to end‑users. Channel partners are authorized to promote the sale of an authorized set of Bentley products and subscriptions within an authorized geography under a Channel Partner Agreement. Significant Judgments and Estimates The Company’s contracts with customers may include promises to transfer licenses (perpetual or term‑based), maintenance, and services to a user. Judgment is required to determine if the promises are separate performance obligations, and if so, the allocation of the transaction price to each performance obligation. When an arrangement includes multiple performance obligations which are concurrently delivered and have the same pattern of transfer to the customer, the Company accounts for those performance obligations as a single performance obligation. For contracts with more than one performance obligation, the transaction price is allocated among the performance obligations in an amount that depicts the relative SSP of each obligation. Judgment is required to determine the SSP for each distinct performance obligation. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs. The Company uses a range of amounts to estimate SSP when it sells each of the products and services separately and needs to determine whether there is a discount that should be allocated based on the relative SSP of the various products and services. The Company’s SELECT agreement provides users with perpetual licenses a right to exchange software for other eligible perpetual licenses on an annual basis upon renewal. The Company refers to this option as portfolio balancing and has concluded that the portfolio balancing feature represents a material right resulting in the deferral of the associated revenue. Judgment is required to estimate the percentage of users who may elect to portfolio balance and considers inputs such as historical user elections. This feature is available once per term and must be exercised prior to the respective renewal term. The Company recognizes the associated revenue upon election or when the portfolio balancing right expires. This right is included in the initial and subsequent renewal terms and the Company reestablishes the revenue deferral for the material right upon the beginning of the renewal term.
Property and Equipment	Property and Equipment — Property and equipment are recorded at cost less accumulated depreciation. Depreciation is calculated using the straight‑line method over the estimated useful lives of the assets, which range from three to 25 years. Leasehold improvements are depreciated over the shorter of the estimated useful life of the leasehold improvements or the lease term. Land is not depreciated. Depreciation for equipment commences once it is placed in service and depreciation for buildings and leasehold improvements commences once they are ready for their intended use.Cost of maintenance and repairs is charged to expense as incurred. Upon retirement or other disposition, the cost of the asset and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets — Intangible assets arise from acquisitions and principally consist of goodwill, trademarks, customer relationships, in‑process research and development, and acquired software and technology. Intangibles, other than goodwill and in‑process research and development, are amortized on a straight‑line basis over their estimated useful lives, which range from three to ten years. Goodwill consists of the excess of cost over the fair value of net assets acquired in business combinations. Goodwill is not amortized, but instead is tested annually for impairment, or more frequently if events occur or circumstances change that would more likely than not reduce its fair value below its carrying amount. The Company operates as a single reporting unit. The initial step in evaluating goodwill for impairment requires the Company to determine the reporting unit’s fair value and compare it to the carrying value, including goodwill, of such reporting unit. As part of the assessment, the Company may first qualitatively assess whether it is more likely than not (a likelihood of more than 50 percent) that a goodwill impairment exists. In evaluating whether it is more likely than not that a goodwill impairment exists, the Company considers the factors identified in ASC 350, Intangibles—Goodwill and Other. The Company also considers whether there are significant differences between the carrying amount and the estimated fair value of its assets and liabilities, and the existence of significant unrecognized intangible assets. Based upon the Company’s most recent annual impairment assessment completed as of October 1, 2020, it is not more likely than not that a goodwill impairment exists. There was no impairment of goodwill as a result of the Company’s annual impairment assessments conducted for the years ended December 31, 2020, 2019, and 2018.
Long-Lived Assets	Long‑Lived Assets — The Company evaluates the recoverability of long‑lived assets, such as property and equipment, operating lease right‑of‑use assets, and amortizable intangible assets, in accordance with authoritative guidance on accounting for the impairment or disposal of long‑lived assets, which includes evaluating long‑lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. If circumstances require a long‑lived asset to be tested for possible impairment, the Company first compares the undiscounted cash flows expected to be generated by that asset to its carrying value. If the carrying value of the long‑lived asset is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value.
Research and Development Expense	Research and Development — Research and development expenses, which are generally expensed as incurred, primarily consist of personnel and related costs of our research and development staff, including salaries, benefits, bonuses, stock‑based compensation, and costs of certain third‑party contractors, as well as allocated overhead costs. The Company expenses software development costs, including costs to develop software products or the software component of products to be sold, leased, or marketed to external accounts, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and as a result, development costs that meet the criteria for capitalization were not material for the periods presented.The Company capitalizes certain development costs related to certain projects under its Accelerated Commercial Development Program (“ACDP”) (the Company’s structured approach to an in‑house business incubator function) once technological feasibility is established. Technological feasibility is established when a detailed program design has been completed and documented, the Company has established that the necessary skills, hardware, and software technology are available to produce the product, and there are no unresolved high‑risk development issues. Once the software is ready for its intended use, amortization is recorded over the software’s estimated useful life (generally three years).Certain costs related to the creation of foreign language translations are capitalized and amortized over the economic life of the software.
Advertising Expense	Advertising Expense — The Company expenses advertising costs as incurred.
Income Taxes	Income Taxes — The Company recognizes deferred income tax assets and liabilities for the expected future tax consequences of net operating loss carryforwards, credit carryforwards, and temporary differences between financial statement carrying amounts of assets and liabilities and their respective tax bases, using enacted tax rates in effect for the year in which the items are expected to reverse. The Company accounts for uncertain tax positions based on an evaluation as to whether it is more likely than not that a tax position will be sustained on audit, including resolution of any related appeals or litigation processes. This evaluation is based on all available evidence and assumes that the appropriate tax authorities have full knowledge of all relevant information concerning the tax position. The tax benefit recognized is based on the largest amount that is greater than 50 percent likely of being realized upon ultimate settlement. Interest expense and penalties are included in (Provision) benefit for income taxes in the consolidated statements of operations.
Segment	Segment — Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) to allocate resources and assess performance. The Company defines its CODM to be its chief executive officer. The chief executive officer reviews the financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating the Company’s financial performance. Accordingly, the Company has determined it operates and manages its business in a single reportable operating segment, the development and marketing of computer software and related services. The Company markets its products and services through the Company’s offices in the U.S. and its wholly‑owned branches and subsidiaries internationally.
Foreign Currency Translation	Foreign Currency Translation — Gains and losses resulting from foreign currency transactions denominated in currencies other than the functional currency are included in Other income (expense), net in the consolidated statements of operations. The assets and liabilities of foreign subsidiaries are translated from their respective functional currencies into U.S. Dollars at the rates in effect at the balance sheet date, and revenue and expense amounts are translated at average rates during the period. Foreign currency translation adjustments are recorded as a component of Other comprehensive income (loss), net of taxes in the consolidated statements of comprehensive income.
Concentration of Credit Risk	Concentration of Credit Risk — Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of its cash and cash equivalents and receivables. To reduce credit risk, the Company performs ongoing credit evaluations of its customers and limits the amount of credit extended when deemed necessary. Generally, the Company requires no collateral from its customers. The Company maintains an allowance for potential credit losses, but historically has not experienced any significant losses related to individual customers or groups of customers in any particular industry or geographic area.The Company’s cash and cash equivalents are deposited with financial institutions and invested in money market funds that the Company believes are of high credit quality.
Investments	Investments — The Company applies the cost method of accounting for its investment in which it does not have the ability to exercise significant influence over operating and financial policies. Under the cost method, the Company records the investment based on original cost less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same investee. The Company’s share of income or loss of such companies is not included in the Company’s consolidated statements of operations. The Company applies the equity method of accounting for its investment in which it does have the ability to exercise significant influence over operating and financial policies. Under the equity method, the Company recognizes its initial investment at cost and updates the carrying value of its investment by its proportional share of income or losses from the investment. In addition, the Company decreases the carrying value by any dividends received from the investee. The Company does not otherwise adjust the carrying value to reflect changes to the fair market value of the investment.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts — Accounts receivable represent receivables from customers for products and services invoiced by the Company for which payment is outstanding. Receivables are recorded at the invoiced amount and do not bear interest. The Company establishes an allowance for doubtful accounts for expected losses during the accounts receivable collection process. The allowance for doubtful accounts is presented separately in the consolidated balance sheets and reduces the accounts receivable balance to the net realizable value of the outstanding accounts and installment receivables. The development of the allowance for doubtful accounts is based on an expected loss model which considers historical write‑off and recovery experience, aging trends affecting specific accounts, and general operational factors affecting all accounts. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company considers current economic trends and takes into account reasonable and supportable forecasts of future conditions when evaluating the adequacy of the allowance for doubtful accounts. If circumstances relating to specific customers change or unanticipated changes occur in the general business environment, the Company’s estimate of the recoverability of receivables could be further adjusted.
Stock-Based Compensation	Stock‑Based Compensation — The Company records all stock‑based compensation as an expense in the consolidated statements of operations measured at the grant date fair value of the award and is recognized ratably over the requisite service period, which is generally the vesting period. The fair value of stock option awards is determined using the Black‑Scholes option pricing model. For all other equity‑based arrangements, the stock‑based compensation expense is based on the share price at the grant date (see Note 15).
Guarantees	Guarantees — The Company’s software license agreements typically provide for indemnification of customers for intellectual property infringement claims. The Company also warrants to customers, when requested, that its software products operate substantially in accordance with standard specifications for a limited period of time. The Company has not incurred significant obligations under customer indemnification or warranty provisions historically and does not expect to incur significant obligations in the future. Accordingly, the Company does not maintain accruals for potential customer indemnification or warranty‑related obligations.
Derivatives Not Designated As Hedging Instruments	Derivative Arrangements — The Company records derivative instruments as an asset or liability measured at fair value and depending on the nature of the hedge, the corresponding changes in the fair value of these instruments are recorded in the consolidated statements of operations or comprehensive income. If the derivative is determined to be a hedge, changes in the fair value of the derivative are offset against the change in the fair value of the hedged assets or liabilities through the consolidated statements of operations or recognized in Other comprehensive income (loss), net of taxes until the hedged item is recognized in the consolidated statement of operations. The ineffective portion of a derivative’s change in fair value is recognized in earnings. Also, changes in the entire fair value of a derivative that is not designated as a hedge are recognized in earnings. On March 31, 2020, the Company entered into an interest rate swap with a notional amount of $200,000 and a ten‑year term to reduce the interest rate risk associated with the Company’s Credit Facility (see Note 10). The interest rate swap is not designated as a hedging instrument for accounting purposes. The Company accounts for the swap as either an asset or a liability on the consolidated balance sheet and carries the derivative at fair value. Gains and losses from the change in fair value are recognized in Other income (expense), net and payments related to the swap are recognized in Interest expense, net in the consolidated statements of operations. The bank counterparty to the derivative potentially exposes the Company to credit-related losses in the event of nonperformance. To mitigate that risk, the Company only contracts with counterparties who meet the Company’s minimum requirements under its counterparty risk assessment process. The Company monitors counterparty risk on at least a quarterly basis and adjusts its exposure as necessary. The Company does not enter into derivative instrument transactions for trading or speculative purposes.
Fair Value Measurements	Fair Value Measurements — The Company categorizes its assets and liabilities measured at fair value into a three‑level hierarchy, based on the priority of the inputs to the respective valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). An asset or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.
Leases	Leases — The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating lease right‑of‑use assets, Operating lease liabilities, and Long‑term operating lease liabilities in the consolidated balance sheet. Operating lease right‑of‑use assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right‑of‑use assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, if the Company’s leases do not provide an implicit rate, based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is determined based on the Company’s estimated credit rating, the term of the lease, economic environment where the asset resides, and full collateralization. The operating lease right‑of‑use assets also include any lease payments made and are reduced by any lease incentives. Options to extend or terminate the lease are considered in determining the lease term when it is reasonably certain that the option will be exercised. Lease expense for lease payments is recognized on a straight‑line basis over the lease term. The Company’s operating leases are primarily for office space, automobiles, and office equipment. The Company’s finance lease is included in Property and equipment, net, Accruals and other current liabilities, and Other liabilities in the consolidated balance sheet.
Recent Accounting Pronouncements and Recently Adopted Accounting Guidance	In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020‑04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020‑04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020‑04 applies only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform between March 12, 2020 and December 31, 2022. The expedients and exceptions provided by ASU 2020‑04 do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company had no transactions that were impacted by ASU 2020‑04 during the year ended December 31, 2020. In August 2018, the FASB issued ASU No. 2018‑15, Intangibles–Goodwill and Other–Internal-Use Software (Subtopic 350‑40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018‑15”), which clarifies the accounting for implementation costs in cloud computing arrangements. ASU 2018‑15 is effective for the Company for the annual reporting period beginning after December 15, 2020, and interim periods beginning after December 15, 2021. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the accounting, transition, and disclosure requirements of the standard and its impact on the Company’s consolidated results of operations and financial position. In January 2017, the FASB issued ASU No. 2017‑04, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which removes Step 2 of the goodwill impairment test. A goodwill impairment will now be calculated as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This ASU is effective for the Company for the interim and annual reporting periods beginning after December 15, 2021. Early adoption is permitted, including adoption in an interim period. The Company does not believe that this ASU will have a material impact on the Company’s consolidated results of operations and financial position. Recently Adopted Accounting Guidance In February 2016, the FASB issued ASU No. 2016‑02 regarding ASC Topic 842, Leases (“Topic 842”). This ASU requires balance sheet recognition of lease assets and lease liabilities by lessees for leases classified as operating leases, with an optional policy election to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. The amendments also require new disclosures, including qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. Subsequent to the issuance of Topic 842, the FASB issued ASU Nos. 2018‑01, Land Easement Practical Expedient for Transition to Topic 842, 2018‑10, Codification Improvements to Topic 842, Leases, 2018‑11, Targeted Improvements, and 2018‑20, Narrow-Scope Improvements for Lessors. These ASUs do not change the core principle of the guidance in Topic 842. Instead, these amendments are intended to clarify and improve operability of certain topics included within the lease standard. The Company adopted Topic 842 as of January 1, 2020 using the modified retrospective method for all existing leases. Upon adoption, the Company recognized its lease assets and lease liabilities measured at the present value of all future fixed lease payments, discounted using the Company’s incremental borrowing rate. The Company elected the package of practical expedients as permitted under the transition guidance, which allows the Company: (1) to not reassess whether any existing contracts are leases or contain a lease; (2) to not reassess the lease classification of existing leases; and (3) to not reassess treatment of initial direct costs for existing leases. Additionally, the Company elected the practical expedients to combine lease and non-lease components for new leases post adoption and to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. Upon adoption of Topic 842, the Company recognized right‑of‑use assets of $45,850 and lease liabilities of $47,666 calculated based on the present value of the remaining minimum lease payments as of the adoption date. Topic 842 did not have a material impact to the Company’s consolidated statement of operations (see Note 8). In June 2016, the FASB issued ASU No. 2016‑13, Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“Topic 326”). Previous guidance required the allowance for doubtful accounts to be estimated based on an incurred loss model, which considers past and current conditions. Topic 326 requires companies to use an expected loss model that also considers reasonable and supportable forecasts of future conditions. Additionally, Topic 326 requires the allowance for doubtful accounts balance (contra‑asset) to be presented separately in the consolidated balance sheets. The Company adopted Topic 326 as of January 1, 2020 using the modified retrospective method of adoption. The adoption of the standard did not have a material impact on the Company’s consolidated results of operations and financial position. In August 2018, the FASB issued ASU No. 2018‑13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018‑13”). ASU 2018‑13 modifies certain required disclosures and establishes new requirements related to fair value measurement. Additionally, the disclosure requirement to state the reasons for transfers between Level 1 and Level 2, the policy for timing transfers between levels, and the valuation process for Level 3 measurements have been removed. The Company adopted the ASU effective January 1, 2020. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial position. In December 2019, the FASB issued ASU No. 2019‑12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019‑12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019‑12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The Company adopted the ASU effective January 1, 2020. The adoption of this ASU did not have a material impact on the Company’s consolidated results of operations and financial position. In August 2020, the FASB issued ASU No. 2020‑06, Debt–Debt with Conversion and Other Options (Subtopic 470‑20) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Subtopic 815‑40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020‑06”), which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if‑converted method. The Company early adopted the ASU effective January 1, 2021 using the modified retrospective method of adoption. The Company will apply this ASU to the convertible debt transaction entered into in January 2021 (see Note 25).

Organization, Consolidation and Presentation of Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Rollforward of Accounts Receivable Allowance for Doubtful Accounts

Activity related to the Company’s allowance for doubtful accounts was as follows:


	Year Ended December 31,
	2020		2019
Balance, beginning of year	$	7,274	$	7,611
Bad debt (recovery) allowance	(1,000)		862
Write-offs	(812)		(1,314)
Foreign currency translation adjustments	297		115
Balance, end of year	$	5,759	$	7,274

Schedule of Property and Equipment, Net

Estimated useful lives of property and equipment are as follows:


	Useful Life
Building and improvements	25	years
Computer equipment and software	3	years
Furniture, fixtures, and equipment	5	years
Aircraft	6	years
Automobiles	3	years

Property and equipment, net consist of the following as of December 31, 2020 and 2019:


	December 31,
	2020		2019
Land	$	2,811	$	2,811
Building and improvements	33,094		31,619
Computer equipment and software	44,369		47,472
Furniture, fixtures, and equipment	12,849		12,593
Aircraft	4,075		3,910
Other	58		79
Property and equipment, at cost	97,256		98,484
Less: Accumulated depreciation	(68,842)		(68,852)
Total property and equipment, net	$	28,414	$	29,632

Revenue from Contracts with Customer (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Changes Upon ASU 2014-09 Adoption


	December 31, 2019
			Impact from
			the Adoption of
	As Reported		Topics 606		As Adjusted
	Topic 606		and 340-40		Topic 605
Assets
Current assets:
Cash and cash equivalents	$	121,101	$	—	$	121,101
Accounts receivable	211,775		(233)		211,542
Allowance for doubtful accounts	(7,274)		—		(7,274)
Prepaid income taxes	4,543		2,189		6,732
Prepaid and other current assets (1)	23,413		(3,333)		20,080
Total current assets	353,558		(1,377)		352,181
Property and equipment, net	29,632		—		29,632
Intangible assets, net	46,313		—		46,313
Goodwill	480,065		—		480,065
Investments	1,725		—		1,725
Deferred income taxes	51,068		21,543		72,611
Other assets (1)	32,238		(5,721)		26,517
Total assets	$	994,599	$	14,445	$	1,009,044
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	17,669	$	—	$	17,669
Accruals and other current liabilities	167,517		(292)		167,225
Deferred revenues	204,991		77,079		282,070
Income taxes payable	2,236		(1,206)		1,030
Total current liabilities	392,413		75,581		467,994
Long-term debt	233,750		—		233,750
Deferred revenues	8,154		47,967		56,121
Deferred income taxes	8,260		(633)		7,627
Income taxes payable	8,140		(1,819)		6,321
Other liabilities	9,263		—		9,263
Total liabilities	659,980		121,096		781,076
Stockholders’ equity:
Common stock	2,548		—		2,548
Additional paid-in capital	408,667		—		408,667
Accumulated other comprehensive loss	(23,927)		841		(23,086)
Accumulated deficit (2)	(52,669)		(107,492)		(160,161)
Total stockholders’ equity	334,619		(106,651)		227,968
Total liabilities and stockholders’ equity	$	994,599	$	14,445	$	1,009,044

(1)As of December 31, 2019, contract cost assets of $2,690 were included in Prepaid and other current assets and $5,235 were included in Other assets.

(2)Included in Accumulated deficit on the opening balance of January 1, 2019 is $107,822, net of tax, for the cumulative effect adjustment of adopting Topics 606 and 340‑40.


	Year Ended December 31, 2019
			Impact from
			the Adoption of
	As Reported		Topics 606		As Adjusted
	Topic 606		and 340-40		Topic 605
Revenues:
Subscriptions	$	608,300	$	5,625	$	613,925
Perpetual licenses	59,693		(7,174)		52,519
Subscriptions and licenses	667,993		(1,549)		666,444
Services	68,661		(256)		68,405
Total revenues	736,654		(1,805)		734,849
Cost of revenues:
Cost of subscriptions and licenses	71,578		(139)		71,439
Cost of services	72,572		—		72,572
Total cost of revenues	144,150		(139)		144,011
Gross profit	592,504		(1,666)		590,838
Operating expenses:
Research and development	183,552		—		183,552
Selling and marketing	155,294		(20)		155,274
General and administrative	97,580		—		97,580
Amortization of purchased intangibles	14,213		—		14,213
Total operating expenses	450,639		(20)		450,619
Income from operations	141,865		(1,646)		140,219
Interest expense, net	(8,199)		—		(8,199)
Other income (expense), net	(5,557)		—		(5,557)
Income before income taxes	128,109		(1,646)		126,463
(Provision) benefit for income taxes	(23,738)		1,976		(21,762)
Loss from investment accounted for using the equity method, net of tax	(1,275)		—		(1,275)
Net income	$	103,096	$	330	$	103,426

Schedule of Contract Assets and Contract Liabilities

Contract Assets and Contract Liabilities


	December 31,
	2020		2019
Contract assets	$	446	$	644
Deferred revenues	209,314		213,145

Disaggregation of Revenue by Type and Location

The following table details revenues:


	Year Ended December 31,
	2020		2019				2018
	Topic 606		Topic 606		Topic 605		Topic 605
Revenues:
Subscriptions:
SELECT subscriptions	$	270,749	$	267,249	$	267,340	$	273,745
Enterprise subscriptions	221,524		184,833		196,081		182,816
Term license subscriptions	187,000		156,218		150,504		100,860
Subscriptions	679,273		608,300		613,925		557,421
Perpetual licenses:
Perpetual licenses	57,382		59,693		52,519		61,065
Subscriptions and licenses	736,655		667,993		666,444		618,486
Services:
Professional services (recurring)	17,389		22,797		22,974		25,981
Professional services (other)	47,500		45,864		45,431		47,243
Services	64,889		68,661		68,405		73,224
Total revenues	$	801,544	$	736,654	$	734,849	$	691,710

Revenue to external customers is attributed to individual countries based upon the location of the customer.


	Year Ended December 31,
	2020		2019				2018
	Topic 606		Topic 606		Topic 605		Topic 605
Revenues:
Americas (1)	$	395,746	$	356,331	$	360,934	$	328,749
Europe, the Middle East, and Africa (“EMEA”) (2)	254,036		236,602		235,254		231,486
Asia-Pacific (“APAC”)	151,762		143,721		138,661		131,475
Total revenues	$	801,544	$	736,654	$	734,849	$	691,710

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Business Acquisitions Aggregate Detail

The aggregate details of the Company’s acquisition activity are as follows:


	Acquisitions Completed in
	Year Ended December 31,
	2020		2019		2018
Number of acquisitions	6		4		7
Cash paid at closing (1)	$	98,298	$	36,577	$	143,038
Cash acquired	(5,266)		(2,523)		(7,774)
Net cash paid	$	93,032	$	34,054	$	135,264

(1)Of the cash paid at closing for the year ended December 31, 2020, $3,413 was deposited into an escrow account to secure any potential indemnification and other obligations of the seller.

Schedule of Business Acquisitions Contingent Consideration

The fair value of the contingent consideration from acquisitions is included in the consolidated balance sheets as follows:


	December 31,
	2020		2019
Accruals and other current liabilities	$	2,884	$	5,100
Other liabilities	1,415		1,499
Contingent consideration from acquisitions	$	4,299	$	6,599

The fair value of non-contingent consideration from acquisitions is included in the consolidated balance sheets as follows:


	December 31,
	2020		2019
Accruals and other current liabilities	$	685	$	900
Other liabilities	1,774		—
Non-contingent consideration from acquisitions	$	2,459	$	900

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


	Acquisitions Completed in
	Year Ended December 31,
	2020		2019		2018
Consideration:
Cash paid at closing	$	98,298	$	36,577	$	143,038
Contingent consideration	2,380		4,498		13,456
Deferred, non-contingent consideration, net	1,416		—		690
Total consideration	$	102,094	$	41,075	$	157,184
Assets acquired and liabilities assumed:
Cash	$	5,266	$	2,523	$	7,774
Prepaid and other current assets	8,701		1,782		4,790
Operating lease right-of-use assets	2,529		—		—
Property and equipment	499		411		340
Other assets	36		84		—
Customer relationship asset (weighted average useful life of 6, 7, and 5 years, respectively)	11,371		6,534		27,294
Software and technology (weighted average useful life of 3 years)	2,207		2,423		9,332
In-process research and development	—		—		1,366
Non-compete agreement (useful life of 5 years)	200		150		—
Trademarks (weighted average useful life of 7, 5, and 7 years, respectively)	3,953		1,431		2,090
Total identifiable assets acquired excluding goodwill	34,762		15,338		52,986
Accruals and other current liabilities	(4,991)		(3,538)		(3,848)
Deferred revenues	(5,351)		(2,897)		(6,181)
Operating lease liabilities	(2,529)		—		—
Deferred income taxes	(1,701)		(1,869)		(8,917)
Other liabilities	(86)		—		—
Total liabilities assumed	(14,658)		(8,304)		(18,946)
Net identifiable assets acquired excluding goodwill	20,104		7,034		34,040
Goodwill	81,990		34,041		123,144
Net assets acquired	$	102,094	$	41,075	$	157,184

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment Estimated Useful Lives

Estimated useful lives of property and equipment are as follows:


	Useful Life
Building and improvements	25	years
Computer equipment and software	3	years
Furniture, fixtures, and equipment	5	years
Aircraft	6	years
Automobiles	3	years

Property and equipment, net consist of the following as of December 31, 2020 and 2019:


	December 31,
	2020		2019
Land	$	2,811	$	2,811
Building and improvements	33,094		31,619
Computer equipment and software	44,369		47,472
Furniture, fixtures, and equipment	12,849		12,593
Aircraft	4,075		3,910
Other	58		79
Property and equipment, at cost	97,256		98,484
Less: Accumulated depreciation	(68,842)		(68,852)
Total property and equipment, net	$	28,414	$	29,632

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows:


Balance, December 31, 2018	$	446,318
Acquisitions	34,041
Foreign currency translation adjustments	(321)
Other adjustments	27
Balance, December 31, 2019	480,065
Acquisitions	81,990
Foreign currency translation adjustments	19,195
Other adjustments	(76)
Balance, December 31, 2020	$	581,174

Schedule of Finite-Lived Intangible Assets

Details of intangible assets other than goodwill as of December 31, 2020 and 2019 are as follows:


		December 31, 2020						December 31, 2019
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Intangible assets subject to amortization:
Software and technology	3 years	$	67,691	$	(63,046)	$	4,645	$	66,063	$	(58,866)	$	7,197
Customer relationships	3-10 years	97,008		(66,030)		30,978		88,904		(59,744)		29,160
Trademarks	3-10 years	26,610		(16,888)		9,722		22,278		(12,461)		9,817
Non-compete agreements	5 years	350		(68)		282		150		(11)		139
Total intangible assets		$	191,659	$	(146,032)	$	45,627	$	177,395	$	(131,082)	$	46,313

Finite-lived Intangible Assets Amortization Expense


	Year Ended December 31,
	2020		2019		2018
Cost of subscriptions and licenses	$	4,981	$	3,795	$	2,840
Amortization of purchased intangibles	15,352		14,213		14,000
Total amortization expense	$	20,333	$	18,008	$	16,840

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Amortization expense for the years following December 31, 2020 are estimated as follows:


2021	$	16,088
2022	12,975
2023	6,609
2024	3,316
2025	2,559
Thereafter	4,080
	$	45,627

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Supplemental Cash Flow and Other Information Related to Leases

The components of operating lease cost reflected in the consolidated statement of operations for the year ended December 31, 2020 were as follows:


	Year Ended
	December 31, 2020
Operating lease cost (1)	$	18,194
Variable lease cost	3,881
Short-term lease cost	399
Total operating lease cost	$	22,474

(1)Operating lease cost includes rent cost related to operating leases for office facilities of $17,417 for the year ended December 31, 2020.

Other information related to leases for the year ended December 31, 2020 was as follows:


	Year Ended
	December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18,384
Right-of-use assets obtained in exchange for new operating lease liabilities	$	15,522
Weighted average remaining lease term — operating leases (in years)	3.65
Weighted average discount rate — operating leases	2.14		%

Operating Lease Maturity

Maturities of operating lease liabilities as of December 31, 2020 are as follows:


	December 31, 2020
2021	$	17,666
2022	13,859
2023	8,801
2024	4,715
2025	3,528
Thereafter	1,983
Total future lease payments	50,552
Less: Imputed interest	(2,175)
Total operating lease liabilities	$	48,377

Summary of Minimum Future Lease Payments

As of December 31, 2019, under the prior lease standard (Topic 840), future minimum lease payments under non‑cancelable operating leases are as follows:


	December 31, 2019
2020	$	15,886
2021	13,186
2022	10,385
2023	6,572
2024	3,216
Thereafter	2,771
Total minimum lease payments	$	52,016

Supplemental Balance Sheet Information

Total financing lease liabilities as of December 31, 2020 were $296. Supplemental balance sheet information related to the financing lease as of December 31, 2020 is as follows:


	December 31, 2020
Property and equipment	$	572
Accumulated depreciation	(229)
Property and equipment, net	$	343

Accruals and other current liabilities	$	197
Other liabilities	99
Total financing lease liabilities	$	296

Accruals and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Schedule of Accruals and Other Current Liabilities

Accruals and other current liabilities consist of the following:


	December 31,
	2020		2019
CSS deposits	$	110,291	$	54,688
Accrued benefits	36,613		33,184
Accrued compensation	22,131		31,537
Due to customers	9,869		8,945
Accrued hosting costs	7,988		2,215
Accrued severance and realignment costs	7,209		1,688
Sales taxes payable	6,361		5,287
Accrued acquisition stay bonuses	5,599		4,143
Accrued professional fees	4,210		4,382
Contingent consideration from acquisitions	2,884		5,100
Accrued facility costs	2,095		2,168
Non-contingent consideration from acquisitions	685		900
Accrued rent	—		1,909
Other accrued and current liabilities	10,858		11,371
Total accruals and other current liabilities	$	226,793	$	167,517

Long‑Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long‑term debt consists of the following as of December 31, 2020 and 2019:


	December 31,
	2020		2019
Bank credit facility:
Senior secured revolver	$	246,000	$	233,750
Total long‑term debt	$	246,000	$	233,750

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Common Stock (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Dividends Declared

Dividends — The Company declared cash dividends during the periods presented as follows:


	Dividend
	Per Share		Amount
2020:
Fourth quarter	$	0.030	$	8,270
Third quarter (1)	1.530		400,311
Second quarter	0.030		7,771
First quarter	0.030		7,666
Total	$	1.620	$	424,018
2019:
Fourth quarter	$	0.025	$	6,367
Third quarter	0.025		6,380
Second quarter	0.025		6,375
First quarter	0.025		6,268
Total	$	0.100	$	25,390
2018:
Fourth quarter	$	0.020	$	4,990
Third quarter	0.020		5,016
Second quarter	0.020		5,020
First quarter	0.020		4,979
Total	$	0.080	$	20,005

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following:


	Foreign		Actuarial (Loss)
	Currency		Gain on
	Translation		Retirement Plan		Total
Balance, December 31, 2017	$	(17,847)	$	(693)	$	(18,540)
Other comprehensive (loss) income, before taxes	(11,020)		208		(10,812)
Tax expense	—		(62)		(62)
Other comprehensive (loss) income, net of taxes	(11,020)		146		(10,874)
Balance, December 31, 2018	(28,867)		(547)		(29,414)
Other comprehensive income (loss), before taxes	5,959		(675)		5,284
Tax benefit	—		203		203
Other comprehensive income (loss), net of taxes	5,959		(472)		5,487
Balance, December 31, 2019	(22,908)		(1,019)		(23,927)
Other comprehensive (loss) income, before taxes	(2,311)		6		(2,305)
Tax expense	—		(1)		(1)
Other comprehensive (loss) income, net of taxes	(2,311)		5		(2,306)
Balance, December 31, 2020	$	(25,219)	$	(1,014)	$	(26,233)

Equity Awards and Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Total stock‑based compensation expense was as follows:


	Year Ended December 31,
	2020		2019		2018
IPO vested restricted stock and RSU expense	$	15,102	$	—	$	—
Bonus Plan expense (see Note 11)	6,524		—		—
Stock option expense	6,858		6,342		4,808
Restricted stock and RSU expense	4,248		1,749		3,074
Stock grants expense	319		—		—
Total pre-tax expense (1)	$	33,051	$	8,091	$	7,882

(1)As of December 31, 2020, $6,835 remained in Accruals and other current liabilities in the consolidated balance sheet.

Total stock‑based compensation expense is included in the consolidated statements of operations as follows:


	Year Ended December 31,
	2020		2019		2018
Cost of subscriptions and licenses	$	960	$	115	$	44
Cost of services	2,939		522		362
Research and development	12,105		3,107		2,971
Selling and marketing	6,692		2,210		2,337
General and administrative	10,355		2,137		2,168
Total pre-tax expense	$	33,051	$	8,091	$	7,882

Schedule of Valuation Assumptions


	Year Ended December 31,
	2020	2019	2018
Expected volatility	31.04%	29.57%	26.32% – 27.18%
Expected dividend yield	1.11%	1.38%	1.18%
Risk-free interest rate	1.31%	2.48%	2.40%
Expected term (in years)	3.75	3.75	3.75
Weighted average grant date fair value of stock options issued	$2.49	$1.66	$1.46

Schedule of Options


				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
	Stock	Exercise Price		Contractual	Intrinsic
	Options	Per Share		Life (in years)	Value
Outstanding, December 31, 2019	18,691,667	$	4.47
Granted	10,000	9.34
Exercised	(5,486,191)	3.47
Canceled	(373,250)	5.33
Outstanding, December 31, 2020	12,842,226	$	4.87	2.06	$	457,650
Exercisable, December 31, 2020	6,327,541	$	4.42	1.47	$	228,378

Schedule of Restricted Stock and Restricted Stock Unit Activity

The following is a summary of unvested restricted stock and RSU activity and related information under the Company’s applicable equity incentive plans:


		Weighted Average
	Restricted	Grant Date
	Stock	Fair Value
	and RSUs	Per Share
Unvested, December 31, 2019	210,111	$	6.79
Granted	2,481,670	16.03
Vested	(1,148,656)	14.58
Canceled	(88,371)	10.06
Unvested, December 31, 2020	1,454,754	$	16.17


	Restricted
	Stock	Restricted
Grant Date	and RSUs	Stock	RSUs		Vesting Terms
Q1 2020	12,454	12,454	—		Time‑based
Q3 2020	185,324	175,004	10,320		Performance-based (1)
Q3 2020	1,197,760	698,540	499,220	(2)	Time-based
Q3 2020	994,912	962,674	32,238	(3)	Upon the Company’s completion of the IPO on September 25, 2020
Q4 2020	12,435	1,667	10,768		Performance-based (1)
Q4 2020	78,785	13,485	65,300		Time‑based
2020 total granted	2,481,670	1,863,824	617,846

(2)Includes 46,300 RSUs that will be settled in cash.

(3)32,238 RSUs will be settled in cash.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and International

The components of income before income taxes consist of the following:


	Year Ended December 31,
	2020		2019		2018
Domestic	$	61,470	$	61,691	$	56,426
International	106,150		66,418		56,436
Income before income taxes	$	167,620	$	128,109	$	112,862

Schedule of Components of Income Tax

The (provision) benefit for income taxes consists of the following:


	Year Ended December 31,
	2020		2019		2018
Current:
Federal	$	(11,094)	$	(7,696)	$	(18,634)
State	(3,597)		(2,486)		(873)
Foreign	(7,688)		(12,824)		(11,303)
	(22,379)		(23,006)		(30,810)
Deferred:
Federal	(5,194)		(2,389)		7,655
State	(1,272)		(412)		(508)
Foreign	(9,780)		2,069		52,913
	(16,246)		(732)		60,060
(Provision) benefit for income taxes	$	(38,625)	$	(23,738)	$	29,250

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. statutory federal income tax rate to the Company’s effective income tax rate is as follows:


	Year Ended December 31,
	2020		2019		2018
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	2.9		2.0		0.9
Permanent book/tax differences	(0.6)		0.2		(0.2)
Stock‑based compensation	(5.2)		(2.3)		(2.4)
Non-deductible officer compensation	4.6		—		—
Expenses associated with IPO	3.3		—		—
Tax credits	(2.1)		(3.6)		(3.3)
Foreign tax rate differential	(2.0)		(2.8)		(4.2)
Income tax reserves	(0.5)		0.9		(0.2)
Intercompany sales of certain operating assets	—		—		(41.1)
Net tax on foreign earnings (GILTI/FDII/FTC)	0.5		6.1		—
Other	1.1		(3.0)		(0.2)
U.S. tax reform	—		—		3.8
Effective income tax rate	23.0	%	18.5	%	(25.9)	%

Schedule of Deferred Tax Assets and Liabilities

The following is a summary of the significant components of the Company’s deferred tax assets and liabilities:


	December 31,
	2020		2019
Deferred tax assets:
Accrued compensation	$	31,580	$	36,195
Net operating loss (“NOL”) and credit carryforwards	7,573		11,544
Intangible assets including goodwill	283		10,371
Other accruals not currently deductible	346		960
Allowance for doubtful accounts	382		472
Other comprehensive income	431		394
Lease liabilities	10,466		—
Other	138		239
Total deferred tax assets	51,199		60,175
Less: Valuation allowance	(1,207)		(2,329)
Net deferred tax assets	49,992		57,846
Deferred tax liabilities:
Deferred revenues	(7,257)		(12,830)
Property and equipment	(1,989)		(707)
Operating lease right-of-use assets	(10,070)		—
Prepaid expenses	(2,301)		(1,501)
Total deferred tax liabilities	(21,617)		(15,038)
Net deferred tax assets (liabilities)	$	28,375	$	42,808

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a reconciliation of the total amounts of unrecognized tax benefits:


	Year Ended December 31,
	2020		2019		2018
Unrecognized tax benefit, beginning of year	$	1,763	$	638	$	872
Tax positions related to prior years:
Additions	1,436		1,222		80
Reductions	(1,723)		(86)		(39)
Lapse of statute of limitations	(253)		(11)		(275)
Unrecognized tax benefit, end of year	$	1,223	$	1,763	$	638

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables provide the financial assets and financial liabilities carried at fair value measured on a recurring basis:


December 31, 2020	Level 1		Level 2		Level 3		Total
Assets:
Money market funds (1)	$	34,696	$	—	$	—	$	34,696
Interest rate swap (2)	—		347		—		347
Total assets	$	34,696	$	347	$	—	$	35,043
Liabilities:
Acquisition contingent consideration (3)	$	—	$	—	$	4,299	$	4,299
Deferred compensation plan (4)	2,591		—		—		2,591
Cash-settled equity awards (5)	195		—		—		195
Total liabilities	$	2,786	$	—	$	4,299	$	7,085


December 31, 2019	Level 1		Level 2		Level 3		Total
Assets:
Money market funds (1)	$	70,000	$	—	$	—	$	70,000
Total assets	$	70,000	$	—	$	—	$	70,000
Liabilities:
Acquisition contingent consideration (3)	$	—	$	—	$	6,599	$	6,599
Deferred compensation plan (4)	2,544		—		—		2,544
Total liabilities	$	2,544	$	—	$	6,599	$	9,143

(1)Included in Cash and cash equivalents in the consolidated balance sheets.

(2)Included in Other assets in the consolidated balance sheet.

(5)Included in Accruals and other current liabilities in the consolidated balance sheet.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation


	Year Ended December 31,
	2020		2019
Balance, beginning of year	$	6,599	$	4,316
Payments	(3,425)		(2,513)
Addition	2,380		4,498
Reclassification	—		180
Change in fair value	(1,340)		62
Foreign currency translation adjustments	85		56
Balance, end of year	$	4,299	$	6,599

Geographic Data (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Long-lived Assets by Geographic Areas

The following table presents the Company’s long‑lived assets, net of depreciation and amortization by geographic region (see Notes 5, 6, and 8).


	December 31,
	2020		2019
Long-lived assets:
Americas (1)	$	50,306	$	34,758
EMEA	56,322		34,039
APAC	13,541		7,148
Total long-lived assets	$	120,169	$	75,945

(1)Americas includes the U.S., Canada, and Latin America (including the Caribbean).

Interest Expense, Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Schedule of Interest Expense, Net

Interest expense, net is comprised of the following:


	Year Ended December 31,
	2020		2019		2018
Interest expense	$	(7,913)	$	(9,731)	$	(9,607)
Interest income	437		1,532		842
Total interest expense, net	$	(7,476)	$	(8,199)	$	(8,765)

Other Income (Expense), Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Schedule of Other Income (Expense)

Other income (expense), net is comprised of the following:


	Year Ended December 31,
	2020		2019		2018
Foreign exchange gain (loss) (1)	$	22,919	$	(5,591)	$	(418)
Other income (expense), net (2)	2,027		34		654
Total other income (expense), net	$	24,946	$	(5,557)	$	236

Realignment Costs (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Realignment Costs Rollforward

Accruals and other current liabilities in the consolidated balance sheets included amounts related to the realignment activities as follows:


	Year Ended December 31,
	2020						2019
	2020 Program		Prior Program		Total		Prior Program
Balance, beginning of year	$	—	$	491	$	491	$	6,437
Realignment costs	10,046		(24)		10,022		(584)
Payments	(4,278)		(264)		(4,542)		(5,326)
Adjustments (1)	292		(23)		269		(36)
Balance, end of year	$	6,060	$	180	$	6,240	$	491

(1)Adjustments includes foreign currency translation.

Schedule of Realignment Costs by Expense Classification

Realignment costs by expense classification were as follows:


	Year Ended December 31,
	2020		2019		2018
Cost of revenues:
Cost of subscriptions and licenses	$	42	$	(51)	$	256
Cost of services	1,422		(185)		845
Total cost of revenues	1,464		(236)		1,101
Operating expenses:
Research and development	848		(171)		3,380
Selling and marketing	5,945		(263)		2,252
General and administrative	1,765		86		45
Total operating expenses	8,558		(348)		5,677
Total realignment costs	$	10,022	$	(584)	$	6,778

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The details of basic and diluted EPS are as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2020		2019		2018
Numerator:
Net income	$	126,521	$	103,096	$	142,112
Less: Net income attributable to participating securities	(234)		(8)		(4)
Net income attributable to Class A and Class B common stockholders	$	126,287	$	103,088	$	142,108
Denominator:
Denominator for basic net income per share—weighted average shares	289,863,272		284,625,642		285,805,096
Effect of dilutive securities	9,507,857		9,171,065		6,819,400
Denominator for dilutive net income per share—weighted average shares	299,371,129		293,796,707		292,624,496
Net income per share, basic	$	0.44	$	0.36	$	0.50
Net income per share, diluted	$	0.42	$	0.35	$	0.49

Selected Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information (Unaudited)

Selected quarterly financial information for the years ended December 31, 2020 and 2019 are as follows (in thousands, except per share amounts):


	First		Second		Third			Fourth		Total
	Quarter		Quarter		Quarter			Quarter		Year
2020
Total revenues	$	194,690	$	184,290	$	202,997		$	219,567	$	801,544
Gross profit	157,431		147,585		160,369			169,004		634,389
Income from operations	45,961		44,591		5,323		(2)	54,275		150,150
Provision for income taxes	7,176		4,264		10,705			16,480		38,625
Net income	$	29,669	$	39,076	$	5,844	(2)	$	51,932	$	126,521
Net income per share, basic (1)	$	0.10	$	0.14	$	0.02	(2)	$	0.17	$	0.44
Net income per share, diluted (1)	$	0.10	$	0.13	$	0.02	(2)	$	0.17	$	0.42

2019
Total revenues	$	177,539	$	169,605	$	186,588		$	202,922	$	736,654
Gross profit	144,972		132,974		151,537			163,021		592,504
Income from operations	38,290		19,468		41,402			42,705		141,865
Provision for income taxes	4,318		801		6,640			11,979		23,738
Net income	$	26,437	$	19,981	$	20,427		$	36,251	$	103,096
Net income per share, basic (1)	$	0.09	$	0.07	$	0.07		$	0.13	$	0.36
Net income per share, diluted (1)	$	0.09	$	0.07	$	0.07		$	0.13	$	0.35

(1)Net income per share was computed independently for each of the periods presented; therefore the sum of the net income per share amount for the quarters may not equal the total year.

Basis of Presentation and Significant Accounting Policies - Narrative (Details) - USD ($)				1 Months Ended	12 Months Ended
	Nov. 17, 2020	Sep. 25, 2020	Aug. 28, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Apr. 02, 2020
Subsidiary, Sale of Stock [Line Items]
Payments of expenses associated with initial public offering					$ 1,373,000	$ 0	$ 0
Dividends payable (USD per share)			$ 1.50
Dividends payable			$ 392,489,000
Stock options exercise price reduction (USD per share)			$ 1.50
Stock options exercise price, lower limit (USD per share)			$ 0.01
Impairment of goodwill					0	0	0
Impairment of long-lived assets					0	0	0
Research and development costs capitalized					7,809,000	6,060,000	5,735,000
Research and development costs capitalized, amortization					4,699,000	3,516,000	2,052,000
Advertising expense					$ 1,726,000	1,579,000	2,378,000
Term of contract (in years)					10 years
Foreign Language Translation Software
Subsidiary, Sale of Stock [Line Items]
Research and development costs capitalized					$ 951,000	835,000	877,000
Research and development costs capitalized, amortization					$ 919,000	823,000	1,008,000
Minimum
Subsidiary, Sale of Stock [Line Items]
Property and equipment, estimated useful lives					3 years
Estimated useful life (in years)					3 years
Maximum
Subsidiary, Sale of Stock [Line Items]
Property and equipment, estimated useful lives					25 years
Estimated useful life (in years)					10 years
Interest Rate Swap \| Not Designated as Hedging Instrument
Subsidiary, Sale of Stock [Line Items]
Derivative notional amount								$ 200,000,000	$ 200,000,000
Term of contract (in years)				10 years
Public Stock Offering - Shares From Existing Shareholders
Subsidiary, Sale of Stock [Line Items]
Payments of expenses associated with initial public offering					$ 26,130,000
Public Stock Offering - Shares From Existing Shareholders \| Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)		12,360,991
Price per share sold (USD per share)		$ 22.00
Follow-On Offering
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock					295,802,000	$ 0	$ 0
Expenses associated with sale of stock					$ 12,898,000
Follow-On Offering \| Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)	11,500,000
Price per share sold (USD per share)	$ 32.00
Follow-On Offering, Sold By Company \| Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)	9,603,965
Follow-On Offering, Exercise By Underwriters \| Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)	1,500,000
Follow-On Offering, Shares From Existing Shareholders \| Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)	1,896,035
Proceeds from issuance of common stock	$ 294,429,000
Expenses associated with sale of stock	$ 12,898,000

Basis of Presentation and Significant Accounting Policies - Schedule of Property and Equipment Useful Lives (Details)	12 Months Ended
	Dec. 31, 2020
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	25 years
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	5 years
Aircraft
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	6 years
Automobiles
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful lives	3 years

Basis of Presentation and Significant Accounting Policies - Rollforward of Accounts Receivable Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance, beginning of year	$ 7,274	$ 7,611
Bad debt (recovery) allowance	(1,000)	862	$ 2,393
Write-offs	(812)	(1,314)
Foreign currency translation adjustments	297	115
Balance, end of year	$ 5,759	$ 7,274	$ 7,611

Recent Accounting Pronouncements - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected [Extensible List]	us-gaap:AccountingStandardsUpdate201602CumulativeEffectPeriodOfAdoptionMember
Operating lease right-of-use assets	$ 46,128		$ 0
Total operating lease liabilities	$ 48,377
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 45,850
Total operating lease liabilities		$ 47,666

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
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-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

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- Definition

Indicates transition method applied for adoption of amendment to accounting standards.

+ References

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+ Details

Revenue from Contracts with Customer - Narrative (Details) - USD ($)		3 Months Ended								12 Months Ended
	Jan. 01, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Income before income taxes										$ 167,620,000	$ 128,109,000	$ 112,862,000
Net income		$ 51,932,000	$ 5,844,000	$ 39,076,000	$ 29,669,000	$ 36,251,000	$ 20,427,000	$ 19,981,000	$ 26,437,000	126,521,000	103,096,000	142,112,000
Deferred revenues		209,314,000				213,145,000				209,314,000	213,145,000
Contract asset impairment										0	0
Contract with customer, liability, revenue recognized										203,682,000	202,354,000
Contract with customer liability additions										193,999,000	202,806,000
Total revenues		219,567,000	$ 202,997,000	$ 184,290,000	$ 194,690,000	202,922,000	$ 186,588,000	$ 169,605,000	$ 177,539,000	$ 801,544,000	$ 736,654,000	$ 691,710,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2014-09, Topic 606
Disaggregation of Revenue [Line Items]
Income before income taxes	$ 125,464,000
Net income	101,489,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2014-09, Topic 340-40
Disaggregation of Revenue [Line Items]
Income before income taxes	7,734,000
Net income	$ 6,333,000
Customer Concentration Risk \| Revenue Benchmark \| Channel Partners
Disaggregation of Revenue [Line Items]
Concentration risk percentage										8.00%	8.00%	9.00%
Portfolio Balancing
Disaggregation of Revenue [Line Items]
Deferred revenues		18,166,000				18,060,000				$ 18,166,000	$ 18,060,000
Licenses
Disaggregation of Revenue [Line Items]
Total revenues		338,792,000				311,689,000
Term Licenses
Disaggregation of Revenue [Line Items]
Total revenues		$ 281,410,000				$ 251,996,000

Revenue from Contracts with Customer - Schedule of ASU 2014-09 Adoption, Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 122,006	$ 121,101
Accounts receivable	195,782	211,775
Allowance for doubtful accounts	(5,759)	(7,274)
Prepaid income taxes	3,535	4,543
Prepaid and other current assets	24,694	23,413
Total current assets	340,258	353,558
Property and equipment, net	28,414	29,632
Intangible assets, net	45,627	46,313
Goodwill	581,174	480,065		$ 446,318
Investments	5,691	1,725
Deferred income taxes	39,224	51,068
Other assets	39,519	32,238
Total assets	1,126,035	994,599
Current liabilities:
Accounts payable	16,492	17,669
Accruals and other current liabilities	226,793	167,517
Deferred revenues	202,294	204,991
Income taxes payable	3,366	2,236
Total current liabilities	465,555	392,413
Long-term debt	246,000	233,750
Deferred revenues	7,020	8,154
Deferred income taxes	10,849	8,260
Income taxes payable	7,883	8,140
Other liabilities	15,362	9,263
Total liabilities	784,436	659,980
Stockholders’ equity:
Common stock	2,722	2,548
Additional paid-in capital	741,113	408,667
Accumulated other comprehensive loss	(26,233)	(23,927)
Accumulated deficit	(376,003)	(52,669)
Total stockholders’ equity	341,599	334,619		147,431	$ 52,167
Total liabilities and stockholders’ equity	$ 1,126,035	994,599
Prepaid Expenses and Other Current Assets
Stockholders’ equity:
Contract cost assets		2,690
Other Noncurrent Assets
Stockholders’ equity:
Contract cost assets		5,235
Cumulative Effect, Period of Adoption, Adjusted Balance
Current assets:
Cash and cash equivalents		121,101
Accounts receivable		211,775
Allowance for doubtful accounts		(7,274)
Prepaid income taxes		4,543
Prepaid and other current assets		23,413
Total current assets		353,558
Property and equipment, net		29,632
Intangible assets, net		46,313
Goodwill		480,065
Investments		1,725
Deferred income taxes		51,068
Other assets		32,238
Total assets		994,599
Current liabilities:
Accounts payable		17,669
Accruals and other current liabilities		167,517
Deferred revenues		204,991
Income taxes payable		2,236
Total current liabilities		392,413
Long-term debt		233,750
Deferred revenues		8,154
Deferred income taxes		8,260
Income taxes payable		8,140
Other liabilities		9,263
Total liabilities		659,980
Stockholders’ equity:
Common stock		2,548
Additional paid-in capital		408,667
Accumulated other comprehensive loss		(23,927)
Accumulated deficit		(52,669)
Total stockholders’ equity		334,619
Total liabilities and stockholders’ equity		994,599
Cumulative Effect, Period of Adoption, Adjustment
Stockholders’ equity:
Total stockholders’ equity				$ 107,822
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2014-09
Current assets:
Cash and cash equivalents		0
Accounts receivable		(233)
Allowance for doubtful accounts		0
Prepaid income taxes		2,189
Prepaid and other current assets		(3,333)
Total current assets		(1,377)
Property and equipment, net		0
Intangible assets, net		0
Goodwill		0
Investments		0
Deferred income taxes		21,543
Other assets		(5,721)
Total assets		14,445
Current liabilities:
Accounts payable		0
Accruals and other current liabilities		(292)
Deferred revenues		77,079
Income taxes payable		(1,206)
Total current liabilities		75,581
Long-term debt		0
Deferred revenues		47,967
Deferred income taxes		(633)
Income taxes payable		(1,819)
Other liabilities		0
Total liabilities		121,096
Stockholders’ equity:
Common stock		0
Additional paid-in capital		0
Accumulated other comprehensive loss		841
Accumulated deficit		(107,492)	$ 107,822
Total stockholders’ equity		(106,651)
Total liabilities and stockholders’ equity		14,445
Cumulative Effect, Period Of Adoption, Previously Reported
Current assets:
Cash and cash equivalents		121,101
Accounts receivable		211,542
Allowance for doubtful accounts		(7,274)
Prepaid income taxes		6,732
Prepaid and other current assets		20,080
Total current assets		352,181
Property and equipment, net		29,632
Intangible assets, net		46,313
Goodwill		480,065
Investments		1,725
Deferred income taxes		72,611
Other assets		26,517
Total assets		1,009,044
Current liabilities:
Accounts payable		17,669
Accruals and other current liabilities		167,225
Deferred revenues		282,070
Income taxes payable		1,030
Total current liabilities		467,994
Long-term debt		233,750
Deferred revenues		56,121
Deferred income taxes		7,627
Income taxes payable		6,321
Other liabilities		9,263
Total liabilities		781,076
Stockholders’ equity:
Common stock		2,548
Additional paid-in capital		408,667
Accumulated other comprehensive loss		(23,086)
Accumulated deficit		(160,161)
Total stockholders’ equity		227,968
Total liabilities and stockholders’ equity		$ 1,009,044

Revenue from Contracts with Customer - Schedule of ASU 2014-09 Adoption, Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 219,567	$ 202,997	$ 184,290	$ 194,690	$ 202,922	$ 186,588	$ 169,605	$ 177,539	$ 801,544	$ 736,654	$ 691,710
Cost of revenues:
Total cost of revenues									167,155	144,150	131,324
Gross profit	169,004	160,369	147,585	157,431	163,021	151,537	132,974	144,972	634,389	592,504	560,386
Operating expenses:
Research and development									185,515	183,552	175,032
Selling and marketing									143,791	155,294	160,635
General and administrative									113,451	97,580	89,328
Amortization of purchased intangibles	15,352				14,213				15,352	14,213	14,000
Total operating expenses									484,239	450,639	438,995
Income from operations	54,275	5,323	44,591	45,961	42,705	41,402	19,468	38,290	150,150	141,865	121,391
Interest expense, net									(7,476)	(8,199)	(8,765)
Other income (expense), net									24,946	(5,557)	236
Income before income taxes									167,620	128,109	112,862
(Provision) benefit for income taxes	(16,480)	(10,705)	(4,264)	(7,176)	(11,979)	(6,640)	(801)	(4,318)	(38,625)	(23,738)	29,250
Loss from investment accounted for using the equity method, net of tax									(2,474)	(1,275)	0
Net income	$ 51,932	$ 5,844	$ 39,076	$ 29,669	$ 36,251	$ 20,427	$ 19,981	$ 26,437	126,521	103,096	142,112
Subscriptions
Revenues:
Total revenues									679,273	608,300	557,421
Perpetual licenses
Revenues:
Total revenues									57,382	59,693	61,065
Subscriptions and licenses
Revenues:
Total revenues									736,655	667,993	618,486
Cost of revenues:
Total cost of revenues									95,803	71,578	55,113
Services
Revenues:
Total revenues									64,889	68,661	73,224
Cost of revenues:
Total cost of revenues									$ 71,352	72,572	$ 76,211
Cumulative Effect, Period of Adoption, Adjusted Balance
Revenues:
Total revenues										736,654
Cost of revenues:
Total cost of revenues										144,150
Gross profit										592,504
Operating expenses:
Research and development										183,552
Selling and marketing										155,294
General and administrative										97,580
Amortization of purchased intangibles										14,213
Total operating expenses										450,639
Income from operations										141,865
Interest expense, net										(8,199)
Other income (expense), net										(5,557)
Income before income taxes										128,109
(Provision) benefit for income taxes										(23,738)
Loss from investment accounted for using the equity method, net of tax										(1,275)
Net income										103,096
Cumulative Effect, Period of Adoption, Adjusted Balance \| Subscriptions
Revenues:
Total revenues										608,300
Cumulative Effect, Period of Adoption, Adjusted Balance \| Perpetual licenses
Revenues:
Total revenues										59,693
Cumulative Effect, Period of Adoption, Adjusted Balance \| Subscriptions and licenses
Revenues:
Total revenues										667,993
Cost of revenues:
Total cost of revenues										71,578
Cumulative Effect, Period of Adoption, Adjusted Balance \| Services
Revenues:
Total revenues										68,661
Cost of revenues:
Total cost of revenues										72,572
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2014-09
Revenues:
Total revenues										(1,805)
Cost of revenues:
Total cost of revenues										(139)
Gross profit										(1,666)
Operating expenses:
Research and development										0
Selling and marketing										(20)
General and administrative										0
Amortization of purchased intangibles										0
Total operating expenses										(20)
Income from operations										(1,646)
Interest expense, net										0
Other income (expense), net										0
Income before income taxes										(1,646)
(Provision) benefit for income taxes										1,976
Loss from investment accounted for using the equity method, net of tax										0
Net income										330
Cumulative Effect, Period of Adoption, Adjustment \| Subscriptions \| Accounting Standards Update 2014-09
Revenues:
Total revenues										5,625
Cumulative Effect, Period of Adoption, Adjustment \| Perpetual licenses \| Accounting Standards Update 2014-09
Revenues:
Total revenues										(7,174)
Cumulative Effect, Period of Adoption, Adjustment \| Subscriptions and licenses \| Accounting Standards Update 2014-09
Revenues:
Total revenues										(1,549)
Cost of revenues:
Total cost of revenues										(139)
Cumulative Effect, Period of Adoption, Adjustment \| Services \| Accounting Standards Update 2014-09
Revenues:
Total revenues										(256)
Cost of revenues:
Total cost of revenues										0
Cumulative Effect, Period Of Adoption, Previously Reported
Revenues:
Total revenues										734,849
Cost of revenues:
Total cost of revenues										144,011
Gross profit										590,838
Operating expenses:
Research and development										183,552
Selling and marketing										155,274
General and administrative										97,580
Amortization of purchased intangibles										14,213
Total operating expenses										450,619
Income from operations										140,219
Interest expense, net										(8,199)
Other income (expense), net										(5,557)
Income before income taxes										126,463
(Provision) benefit for income taxes										(21,762)
Loss from investment accounted for using the equity method, net of tax										(1,275)
Net income										103,426
Cumulative Effect, Period Of Adoption, Previously Reported \| Subscriptions
Revenues:
Total revenues										613,925
Cumulative Effect, Period Of Adoption, Previously Reported \| Perpetual licenses
Revenues:
Total revenues										52,519
Cumulative Effect, Period Of Adoption, Previously Reported \| Subscriptions and licenses
Revenues:
Total revenues										666,444
Cost of revenues:
Total cost of revenues										71,439
Cumulative Effect, Period Of Adoption, Previously Reported \| Services
Revenues:
Total revenues										68,405
Cost of revenues:
Total cost of revenues										$ 72,572

Revenue from Contracts with Customer - Schedule of Contract Assets and Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 446	$ 644
Deferred revenues	$ 209,314	$ 213,145

Revenue from Contracts with Customer - Performance Obligation (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation amount	$ 209,314
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent to be recognized over next twelve months	96.60%
Remaining performance obligation expected timing of satisfaction period	12 months

Revenue from Contracts with Customer - Schedule of Revenue Disaggregation by Type (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 219,567	$ 202,997	$ 184,290	$ 194,690	$ 202,922	$ 186,588	$ 169,605	$ 177,539	$ 801,544	$ 736,654	$ 691,710
Revenues										734,849	691,710
Subscriptions and licenses
Disaggregation of Revenue [Line Items]
Total revenues									736,655	667,993	618,486
Revenues										666,444	618,486
Subscriptions
Disaggregation of Revenue [Line Items]
Total revenues									679,273	608,300	557,421
Revenues										613,925	557,421
SELECT subscriptions
Disaggregation of Revenue [Line Items]
Total revenues									270,749	267,249
Revenues										267,340	273,745
Enterprise subscriptions
Disaggregation of Revenue [Line Items]
Total revenues									221,524	184,833
Revenues										196,081	182,816
Term license subscriptions
Disaggregation of Revenue [Line Items]
Total revenues									187,000	156,218
Revenues										150,504	100,860
Perpetual licenses
Disaggregation of Revenue [Line Items]
Total revenues									57,382	59,693	61,065
Revenues										52,519	61,065
Services
Disaggregation of Revenue [Line Items]
Total revenues									64,889	68,661	73,224
Revenues										68,405	73,224
Professional services (recurring)
Disaggregation of Revenue [Line Items]
Total revenues									17,389	22,797
Revenues										22,974	25,981
Professional services (other)
Disaggregation of Revenue [Line Items]
Total revenues									$ 47,500	45,864
Revenues										$ 45,431	$ 47,243

Revenue from Contracts with Customer - Schedule of Revenue Disaggregation by Location (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 219,567	$ 202,997	$ 184,290	$ 194,690	$ 202,922	$ 186,588	$ 169,605	$ 177,539	$ 801,544	$ 736,654	$ 691,710
Cumulative Effect, Period of Adoption, Adjusted Balance
Disaggregation of Revenue [Line Items]
Total revenues										736,654
Cumulative Effect, Period Of Adoption, Previously Reported
Disaggregation of Revenue [Line Items]
Total revenues										734,849
Americas
Disaggregation of Revenue [Line Items]
Total revenues									395,746		328,749
Americas \| Cumulative Effect, Period of Adoption, Adjusted Balance
Disaggregation of Revenue [Line Items]
Total revenues										356,331
Americas \| Cumulative Effect, Period Of Adoption, Previously Reported
Disaggregation of Revenue [Line Items]
Total revenues										360,934
United States
Disaggregation of Revenue [Line Items]
Total revenues									348,222	277,706
United States \| Cumulative Effect, Period of Adoption, Adjusted Balance
Disaggregation of Revenue [Line Items]
Total revenues										306,493
United States \| Cumulative Effect, Period Of Adoption, Previously Reported
Disaggregation of Revenue [Line Items]
Total revenues										307,259
EMEA
Disaggregation of Revenue [Line Items]
Total revenues									254,036		231,486
EMEA \| Cumulative Effect, Period of Adoption, Adjusted Balance
Disaggregation of Revenue [Line Items]
Total revenues										236,602
EMEA \| Cumulative Effect, Period Of Adoption, Previously Reported
Disaggregation of Revenue [Line Items]
Total revenues										235,254
United Kingdom
Disaggregation of Revenue [Line Items]
Total revenues									64,433		59,086
United Kingdom \| Cumulative Effect, Period of Adoption, Adjusted Balance
Disaggregation of Revenue [Line Items]
Total revenues										57,321
United Kingdom \| Cumulative Effect, Period Of Adoption, Previously Reported
Disaggregation of Revenue [Line Items]
Total revenues										59,524
Asia-Pacific (“APAC”)
Disaggregation of Revenue [Line Items]
Total revenues									$ 151,762		$ 131,475
Asia-Pacific (“APAC”) \| Cumulative Effect, Period of Adoption, Adjusted Balance
Disaggregation of Revenue [Line Items]
Total revenues										143,721
Asia-Pacific (“APAC”) \| Cumulative Effect, Period Of Adoption, Previously Reported
Disaggregation of Revenue [Line Items]
Total revenues										$ 138,661

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Acquisitions - Schedule of Cash Paid and Acquired for Acquisitions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) acquisition	Dec. 31, 2019 USD ($) acquisition	Dec. 31, 2018 USD ($) acquisition
Business Combination, Separately Recognized Transactions [Line Items]
Cash acquired	$ (5,266)	$ (2,523)	$ (7,774)
Net cash paid	$ 93,032	$ 34,054	$ 135,264
Series of Individually Immaterial Business Acquisitions
Business Combination, Separately Recognized Transactions [Line Items]
Number of acquisitions \| acquisition	6,000	4,000	7,000
Cash paid at closing	$ 98,298	$ 36,577	$ 143,038
Cash acquired	(5,266)	(2,523)	(7,774)
Net cash paid	93,032	$ 34,054	$ 135,264
Escrow deposit	$ 3,413

Acquisitions - Schedule of Contingent and Non-Contingent Consideration Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition, Contingent Consideration [Line Items]
Accruals and other current liabilities	$ 2,884	$ 5,100
Accruals and other current liabilities	685	900
Series of Individually Immaterial Business Acquisitions
Business Acquisition, Contingent Consideration [Line Items]
Accruals and other current liabilities	2,884	5,100
Other liabilities	1,415	1,499
Contingent consideration from acquisitions	4,299	6,599
Accruals and other current liabilities	685	900
Other liabilities	1,774	0
Non-contingent consideration from acquisitions	$ 2,459	$ 900

Acquisitions - Narrative (Details) $ in Thousands	3 Months Ended								12 Months Ended
Acquisitions - Narrative (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) acquisition	Dec. 31, 2019 USD ($) acquisition	Dec. 31, 2018 USD ($) acquisition
Business Combination, Separately Recognized Transactions [Line Items]
Fair value adjustments reducing revenue	$ (219,567)	$ (202,997)	$ (184,290)	$ (194,690)	$ (202,922)	$ (186,588)	$ (169,605)	$ (177,539)	$ (801,544)	$ (736,654)	$ (691,710)
Series of Individually Immaterial Business Acquisitions
Business Combination, Separately Recognized Transactions [Line Items]
Number of acquisitions \| acquisition									6,000	4,000	7,000
Acquisition and integration costs	2,227				$ 950						$ 1,361
Goodwill from acquisition, expected tax deductible amount	$ 24,133								$ 24,133
Series of Individually Immaterial Business Acquisitions \| Acquired Support Contracts Adjustment To Revenue
Business Combination, Separately Recognized Transactions [Line Items]
Fair value adjustments reducing revenue									$ 599	$ 553	$ 2,469

- Definition

+ References

+ Details

Acquisitions - Schedule of Consideration and Net Assets Acquired (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill	$ 581,174	$ 480,065	$ 446,318
Series of Individually Immaterial Business Acquisitions
Business Combination, Separately Recognized Transactions [Line Items]
Cash paid at closing	98,298	36,577	143,038
Contingent consideration from acquisitions	2,380	4,498	13,456
Deferred, non-contingent consideration, net	1,416	0	690
Total consideration	102,094	41,075	157,184
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Cash	5,266	2,523	7,774
Prepaid and other current assets	8,701	1,782	4,790
Operating lease right-of-use assets	2,529	0	0
Property and equipment	499	411	340
Other assets	36	84	0
Total identifiable assets acquired excluding goodwill	34,762	15,338	52,986
Accruals and other current liabilities	(4,991)	(3,538)	(3,848)
Deferred revenues	(5,351)	(2,897)	(6,181)
Operating lease liabilities	(2,529)	0	0
Deferred income taxes	(1,701)	(1,869)	(8,917)
Other liabilities	(86)	0	0
Total liabilities assumed	(14,658)	(8,304)	(18,946)
Net identifiable assets acquired excluding goodwill	20,104	7,034	34,040
Goodwill	81,990	34,041	123,144
Net assets acquired	102,094	41,075	157,184
Series of Individually Immaterial Business Acquisitions \| Customer relationships
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Finite-lived intangibles	$ 11,371	$ 6,534	$ 27,294
Series of Individually Immaterial Business Acquisitions \| Customer relationships \| Weighted Average
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Acquired finite-lived intangible assets, weighted average useful life	6 years	7 years	5 years
Series of Individually Immaterial Business Acquisitions \| Software and technology
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Finite-lived intangibles	$ 2,207	$ 2,423	$ 9,332
In-process research and development	$ 0	0	1,366
Series of Individually Immaterial Business Acquisitions \| Software and technology \| Weighted Average
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Acquired finite-lived intangible assets, weighted average useful life	3 years
Series of Individually Immaterial Business Acquisitions \| Non-compete agreements
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Finite-lived intangibles	$ 200	150	0
Acquired finite-lived intangible assets, weighted average useful life	5 years
Series of Individually Immaterial Business Acquisitions \| Trademarks
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Finite-lived intangibles	$ 3,953	$ 1,431	$ 2,090
Series of Individually Immaterial Business Acquisitions \| Trademarks \| Weighted Average
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Acquired finite-lived intangible assets, weighted average useful life	7 years	5 years	7 years

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	$ 97,256	$ 98,484
Less: Accumulated depreciation	(68,842)	(68,852)
Total property and equipment and finance lease right-of-use assets, net	28,414	29,632
Land
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	2,811	2,811
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	33,094	31,619
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	44,369	47,472
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	12,849	12,593
Aircraft
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	4,075	3,910
Other
Property, Plant and Equipment [Line Items]
Property and equipment and finance lease right-of-use assets at cost	$ 58	$ 79

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 10,166	$ 9,813	$ 9,300

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill beginning balance	$ 480,065	$ 446,318
Acquisitions	81,990	34,041
Foreign currency translation adjustments	19,195	(321)
Other adjustments	(76)	27
Goodwill ending balance	$ 581,174	$ 480,065

Goodwill and Other Intangible Assets - Intangible Assets Other than Goodwill (Details ) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 191,659	$ 177,395
Accumulated Amortization	(146,032)	(131,082)
Net Book Value	$ 45,627	46,313
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	10 years
Software and technology
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	3 years
Gross Carrying Amount	$ 67,691	66,063
Accumulated Amortization	(63,046)	(58,866)
Net Book Value	4,645	7,197
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	97,008	88,904
Accumulated Amortization	(66,030)	(59,744)
Net Book Value	$ 30,978	29,160
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	3 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	10 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 26,610	22,278
Accumulated Amortization	(16,888)	(12,461)
Net Book Value	$ 9,722	9,817
Trademarks \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	3 years
Trademarks \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	10 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	5 years
Gross Carrying Amount	$ 350	150
Accumulated Amortization	(68)	(11)
Net Book Value	$ 282	$ 139

Goodwill and Other Intangible Assets - Aggregate Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Cost of subscriptions and licenses	$ 4,981	$ 3,795			$ 2,840
Amortization of purchased intangibles	15,352	14,213	$ 15,352	$ 14,213	14,000
Total amortization expense	$ 20,333	$ 18,008			$ 16,840

Goodwill and Other Intangible Assets - Schedule of Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 16,088
2022	12,975
2023	6,609
2024	3,316
2025	2,559
Thereafter	4,080
Net Book Value	$ 45,627	$ 46,313

Investments (Details) - USD ($)	12 Months Ended
Investments (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Payments to acquire cost method investments	$ 3,440,000
Payments to acquire equity method investments	3,000,000
Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Equity method investments	2,251,000	$ 1,725,000
Impairment of equity method investments	$ 0
Digital Construction Works, Inc. \| Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Digital Construction Works, Inc. \| Topcon
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating leases, rent expense before Topic 842 adoption		$ 17,036	$ 16,726
Operating lease payments, leases not yet commenced	$ 1,368
Total financing lease liabilities	$ 296
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term (less than) (in years)	1 year
Renewal term (up to) (in years)	1 year
Termination period (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (less than) (in years)	9 years
Renewal term (up to) (in years)	10 years
Termination period (in years)	10 years

Leases - Lease Cost (Details) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
Operating lease cost	$ 18,194
Variable lease cost	3,881
Short-term lease cost	399
Total operating lease cost	22,474
Payments for rent	$ 17,417

Leases - Other Information (Details) $ in Thousands	12 Months Ended
Leases - Other Information (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 18,384
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 15,522
Weighted average remaining lease term — operating leases (in years)	3 years 7 months 24 days
Weighted average discount rate — operating leases	2.14%

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Operating Leases, After Adoption of 842:
2021	$ 17,666
2022	13,859
2023	8,801
2024	4,715
2025	3,528
Thereafter	1,983
Total future lease payments	50,552
Less: Imputed interest	(2,175)
Total operating lease liabilities	$ 48,377

Leases - Maturities, Prior to Adoption (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 15,886
2021	13,186
2022	10,385
2023	6,572
2024	3,216
Thereafter	2,771
Total minimum lease payments	$ 52,016

Leases - Supplemental Balance Sheet (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
Property and equipment	$ 572
Accumulated depreciation	(229)
Property and equipment, net	343
Accruals and other current liabilities	197
Other liabilities	99
Total financing lease liabilities	$ 296
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	bsy:AccrualsAndOtherLiabilitiesCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Accruals and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
CSS deposits	$ 110,291	$ 54,688
Accrued benefits	36,613	33,184
Accrued compensation	22,131	31,537
Due to customers	9,869	8,945
Accrued hosting costs	7,988	2,215
Accrued severance and realignment costs	7,209	1,688
Sales taxes payable	6,361	5,287
Accrued acquisition stay bonuses	5,599	4,143
Accrued professional fees	4,210	4,382
Contingent consideration from acquisitions	2,884	5,100
Accrued facility costs	2,095	2,168
Non-contingent consideration from acquisitions	685	900
Accrued rent	0	1,909
Other accrued and current liabilities	10,858	11,371
Accruals and other current liabilities	$ 226,793	$ 167,517

Long‑Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total carrying value of debt	$ 246,000	$ 233,750
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Total carrying value of debt	$ 246,000	$ 233,750

Long‑Term Debt - Narrative (Details)		1 Months Ended	12 Months Ended
Long‑Term Debt - Narrative (Details)	Dec. 19, 2017 USD ($)	Nov. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 02, 2020 USD ($)	Jun. 30, 2020 USD ($)	Apr. 02, 2020 USD ($)
Debt Instrument [Line Items]
Repayments of term loan			$ 125,000,000	$ 0	$ 0
Total carrying value of debt			246,000,000	233,750,000
Amortization and write-off of deferred debt issuance costs			985,000	553,000	552,000
Interest expense other borrowings			50,000	$ 207,000	$ 255,000
Interest Rate Swap \| Not Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative notional amount							$ 200,000,000	$ 200,000,000
Derivative fair value			$ 347,000
Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate over time			1.92%	3.47%	3.28%
Accrued interest and fees				$ 0
Interest expense for debt			$ 6,878,000	8,971,000	$ 8,800,000
Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings guaranteed through stock of foreign subsidiaries (as a percent)	0.65
Credit Facility \| Letters of Credit And Surety Bonds
Debt Instrument [Line Items]
Total carrying value of debt			150,000	546,000
Credit Facility \| Minimum \| Revolving Credit Facility - Non-Euro Currency
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage	0.15%
Credit Facility \| Maximum \| Revolving Credit Facility - Non-Euro Currency
Debt Instrument [Line Items]
Unused capacity, commitment fee percentage	0.30%
Credit Facility \| London Interbank Offered Rate (LIBOR) \| Revolving Credit Facility - Non-Euro Currency
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Credit Facility \| London Interbank Offered Rate (LIBOR) \| Minimum \| Revolving Credit Facility - Euro Currency
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Credit Facility \| London Interbank Offered Rate (LIBOR) \| Maximum \| Revolving Credit Facility - Euro Currency
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Credit Facility \| Overnight Bank Funding Effective Rate \| Revolving Credit Facility - Non-Euro Currency
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Credit Facility \| Base Rate \| Minimum \| Revolving Credit Facility - Non-Euro Currency
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Credit Facility \| Base Rate \| Maximum \| Revolving Credit Facility - Non-Euro Currency
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Term Loan \| Revolving Credit Facility
Debt Instrument [Line Items]
Amortization and write-off of deferred debt issuance costs			553,000	553,000	$ 552,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Accordion feature, increase limit	$ 100,000,000
Total carrying value of debt			246,000,000	233,750,000
Line of Credit \| Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity			253,850,000	$ 265,704,000
Effective interest rate								0.73%
Line of Credit \| Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	500,000,000
Line of Credit \| Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	50,000,000
Line of Credit \| Credit Facility \| Bridge Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000
Line of Credit \| Term Loan \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount						$ 125,000,000
Repayments of term loan		$ 125,000,000
Debt issuance costs			$ 432,000

Executive Bonus Plan - Narrative (Details) $ in Thousands	12 Months Ended
Executive Bonus Plan - Narrative (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 03, 2020 USD ($) acquisition
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Number of trading days prior to end of applicable quarter, shares determined upon election by volume-weighted average price \| acquisition				10,000
Number of trading days after the end of applicable quarter, shares determined upon election by volume-weighted average price \| acquisition				10
Non-deferred incentive bonus threshold for pro rata adjustment \| $				$ 7,500
Deferred Bonus
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Company's Management Reported Operating Income (MORI) threshold for bonus plan (up to)	20.00%
Bonus plan compensation expense \| $	$ 34,340	$ 31,061	$ 27,641

Retirement Plans - Narrative (Details) - USD ($)		12 Months Ended
Retirement Plans - Narrative (Details) - USD ($)	Aug. 28, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits
Defined Contribution Plan Disclosure [Line Items]
Deferred compensation liability, current and noncurrent		$ 2,591,000	$ 2,544,000
Qualified Plan
Defined Contribution Plan Disclosure [Line Items]
Employer discretionary contribution, percent of qualified cash compensation (up to)		5.00%
Qualified Plan \| United States
Defined Contribution Plan Disclosure [Line Items]
Employer contributions		$ 3,583,000	3,311,000	$ 3,337,000
Qualified Plan \| Foreign Plan
Defined Contribution Plan Disclosure [Line Items]
Employer contributions		7,347,000	8,070,000	$ 7,613,000
Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits
Defined Contribution Plan Disclosure [Line Items]
Contributions by employer		$ 0	$ 0
Dividends, common stock, stock (in shares)	$ 2,709,851
Phantom shares issuable (in shares)		30,590,955	30,768,633
Share-based Payment Arrangement, Tranche One \| Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits \| Prior to January 2016 Awards
Defined Contribution Plan Disclosure [Line Items]
Vesting percentage		20.00%
Share-based Payment Arrangement, Tranche One \| Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits \| After January 2016 Awards
Defined Contribution Plan Disclosure [Line Items]
Vesting percentage		100.00%
Share-based Payment Arrangement, Tranche Two \| Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits \| Prior to January 2016 Awards
Defined Contribution Plan Disclosure [Line Items]
Vesting percentage		20.00%
Share-based Payment Arrangement, Tranche Three \| Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits \| Prior to January 2016 Awards
Defined Contribution Plan Disclosure [Line Items]
Vesting percentage		20.00%
Share-Based Payment Arrangement, Tranche Four \| Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits \| Prior to January 2016 Awards
Defined Contribution Plan Disclosure [Line Items]
Vesting percentage		20.00%
Share-Based Payment Arrangement, Tranche Five \| Nonqualified Plan \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits \| Prior to January 2016 Awards
Defined Contribution Plan Disclosure [Line Items]
Vesting percentage		20.00%

Common Stock - Initial Public Offering and Authorized Common Shares Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 25, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Apr. 20, 2018
Class of Stock [Line Items]
Payments of expenses associated with initial public offering		$ 1,373	$ 0	$ 0
Public Stock Offering - Shares From Existing Shareholders
Class of Stock [Line Items]
Payments of expenses associated with initial public offering		$ 26,130
Class B Common Stock
Class of Stock [Line Items]
Common stock shares authorized (up to) (in shares)	1,800,000,000	1,800,000,000			600,000,000
Common stock shares outstanding (in shares)		260,552,747	243,241,192
Class B Common Stock \| Public Stock Offering - Shares From Existing Shareholders
Class of Stock [Line Items]
Number of shares sold (in shares)	12,360,991
Price per share sold (USD per share)	$ 22.00
Class A Common Stock
Class of Stock [Line Items]
Common stock shares authorized (up to) (in shares)	100,000,000	100,000,000			320,000,000
Common stock shares outstanding (in shares)		11,601,757	11,601,757

Common Stock - Follow-On Public Offering Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Nov. 17, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Follow-On Offering
Class of Stock [Line Items]
Proceeds from issuance of common stock		$ 295,802	$ 0	$ 0
Expenses associated with sale of stock		$ 12,898
Class B Common Stock \| Follow-On Offering
Class of Stock [Line Items]
Number of shares sold (in shares)	11,500,000
Price per share sold (USD per share)	$ 32.00
Class B Common Stock \| Follow-On Offering, Sold By Company
Class of Stock [Line Items]
Number of shares sold (in shares)	9,603,965
Class B Common Stock \| Follow-On Offering, Exercise By Underwriters
Class of Stock [Line Items]
Number of shares sold (in shares)	1,500,000
Class B Common Stock \| Follow-On Offering, Shares From Existing Shareholders
Class of Stock [Line Items]
Number of shares sold (in shares)	1,896,035
Proceeds from issuance of common stock	$ 294,429
Expenses associated with sale of stock	$ 12,898

Common Stock - Sales, Repurchases, and Issuances of Company Capital Stock Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Apr. 23, 2018	Sep. 30, 2016
Class of Stock [Line Items]
Profit-sharing plan shares, net, value	$ 6,970,000	$ 2,417,000	$ 3,387,000
Common Stock
Class of Stock [Line Items]
Stock repurchased during period (in shares)	549,834	318,203	465,979
Shares exercised (in shares)	4,060,839	3,214,542	2,812,998
Profit-sharing plan shares, net, value	$ 5,000	$ 3,000	$ 5,000
Deferred Compensation, Share-based Payments [Member] \| Deferred Profit Sharing
Class of Stock [Line Items]
Stock repurchased during period (in shares)	549,834	318,203	465,979
Profit-sharing plan shares, net, value	$ 6,970,000	$ 2,417,000	$ 3,387,000
Performance Based Restricted Stock Units (RSUs), 2016 \| Equity Incentive Plan
Class of Stock [Line Items]
Shares repurchased by Company after exercise	$ 1,454,000	$ 8,838,000	$ 8,571,000
Shares repurchased by Company after exercise (in shares)	128,007	1,126,747	1,131,928
Class B Common Stock
Class of Stock [Line Items]
Amount authorized for purchase	$ 250,000,000			$ 250,000,000	$ 200,000,000
Stock repurchased during period (in shares)	3,769,346
Class B Common Stock \| Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits
Class of Stock [Line Items]
Share-based compensation tax withholding payment	$ 4,625,000	$ 5,609,000	$ 6,861,000
Deferred compensation arrangement with individual, shares issued (in shares)	3,081,607	2,322,983	2,332,585
Deferred compensation arrangement with individual, shares issued, gross (in shares)	3,352,931	3,082,607	3,340,904
Shares withheld for tax withholding obligation (in shares)	271,324	759,624	1,008,319
Class B Common Stock \| Common Stock
Class of Stock [Line Items]
Shares exercised, net of shares withheld (in shares)		3,214,542	2,812,998
Shares exercised (in shares)		4,731,158	3,726,606
Shares issued for cash (in shares)		1,273,271	1,235,204
Shares withheld for cost of options and tax withholding obligation		1,516,616	913,608
Class B Common Stock \| Stock Option
Class of Stock [Line Items]
Shares exercised, net of shares withheld (in shares)	4,060,839
Shares exercised (in shares)	5,486,191
Shares issued for cash (in shares)	1,063,204
Shares withheld for cost of options and tax withholding obligation	1,425,352
Cash used to settle award	$ 9,128,000
Share-based compensation tax withholding payment	$ 4,755,000	$ 2,324,000	$ 1,577,000
Class B Common Stock \| Stock Option \| Common Stock
Class of Stock [Line Items]
Cash used to settle award		$ 3,627,000	$ 2,187,000
Private Placement \| Class B Common Stock
Class of Stock [Line Items]
Number of shares sold (in shares)	4,574,399	791,873	5,151,019
Stock repurchased during period (in shares)		622,873	2,139,466
Sale of stock, consideration received	$ 58,349,000	$ 4,510,000	$ 16,220,000
Private Placement, Direct Investor Investment \| Class B Common Stock
Class of Stock [Line Items]
Number of shares sold (in shares)	805,053	169,000	3,011,553
Sale of stock, consideration received	$ 12,462,000	$ 1,224,000	$ 22,792,000

Common Stock - Selected Terms Of Class A Common Stock and Class B Common Stock Narrative (Details)	Dec. 31, 2020 vote
Class of Stock [Line Items]
Threshold of affirmative votes of Class A Common Stock outstanding for automatic conversion to Class B Common Stock (at least)	90.00%
Threshold of Bentley family ownership of issued and outstanding Class B Common Stock, fully-diluted basis, automatic conversion of Class A Common Stock	20.00%
Class B Common Stock
Class of Stock [Line Items]
Number of votes per share	1
Class A Common Stock
Class of Stock [Line Items]
Number of votes per share	29
Number of votes per share, if not serving as Company director or executive officer	11

Common Stock - Selected Terms of Preferred Stock Narrative (Details) - shares	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Preferred stock shares authorized (in shares)	100,000,000	100,000,000
Preferred stock shares outstanding (in shares)	0	0

Common Stock - Schedule of Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended												12 Months Ended
	Aug. 28, 2020	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Dividends declared (USD per share)		$ 0.030	$ 1.530	$ 0.030	$ 0.030	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.020	$ 0.020	$ 0.020	$ 0.020	$ 1.620	$ 0.100	$ 0.080
Amount		$ 8,270	$ 400,311	$ 7,771	$ 7,666	$ 6,367	$ 6,380	$ 6,375	$ 6,268	$ 4,990	$ 5,016	$ 5,020	$ 4,979	$ 424,018	$ 25,390	$ 20,005
Dividends payable	$ 392,489
Stock options exercise price reduction (USD per share)	$ 1.50
Stock options exercise price, lower limit (USD per share)	$ 0.01

Common Stock- Global Employee Stock Purchase Plan (Details) - Employee Stock - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 22, 2020
Class of Stock [Line Items]
Maximum percent of eligible compensation available to contribute		15.00%
Maximum employee annual contribution amount	$ 25
Purchase price of common stock, percent		85.00%
Class B Common Stock
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)		25,000,000
Shares issued (in shares)	0

Accumulated Other Comprehensive Loss - Rollforward of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 334,619	$ 147,431	$ 52,167
Other comprehensive (loss) income, before taxes	(2,305)	5,284	(10,812)
Tax expense (benefit)	(1)	203	(62)
Total other comprehensive income (loss), net of taxes	(2,306)	5,487	(10,874)
Ending balance	341,599	334,619	147,431
Accumulated Foreign Currency Adjustment Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(22,908)	(28,867)	(17,847)
Other comprehensive (loss) income, before taxes	(2,311)	5,959	(11,020)
Tax expense (benefit)	0	0	0
Total other comprehensive income (loss), net of taxes	(2,311)	5,959	(11,020)
Ending balance	(25,219)	(22,908)	(28,867)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,019)	(547)	(693)
Other comprehensive (loss) income, before taxes	6	(675)	208
Tax expense (benefit)	(1)	203	(62)
Total other comprehensive income (loss), net of taxes	5	(472)	146
Ending balance	(1,014)	(1,019)	(547)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(23,927)	(29,414)	(18,540)
Total other comprehensive income (loss), net of taxes	(2,306)	5,487	(10,874)
Ending balance	$ (26,233)	$ (23,927)	$ (29,414)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Equity Awards and Instruments - Incentive Plan Narrative (Details) - Class B Common Stock - shares	Dec. 31, 2020	Sep. 22, 2020
2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		25,000,000
Percent of outstanding shares annual increase for authorized amount, minimum		1.00%
Number of shares available (in shares)	24,904,235
Two Thousand Fifteen Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	50,000,000

Equity Awards and Instruments - Stock Options Narrative (Details) - $ / shares		12 Months Ended
	Aug. 28, 2020	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Put provision start period, number of months since exercise		6 months
Put provision end Period, number of days after start period		30 days
Call Provision Exercise Period		7 months
Dividends payable (USD per share)	$ 1.50
Stock options exercise price reduction (USD per share)	1.50
Stock options exercise price, lower limit (USD per share)	$ 0.01

Equity Awards and Instruments - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		$ 33,051	$ 8,091	$ 7,882
Stock-based compensation expense accrued		6,835
Cost of Revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		2,939	522	362
Cost of Revenues \| Subscriptions and licenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		960	115	44
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		12,105	3,107	2,971
Selling and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		6,692	2,210	2,337
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		10,355	2,137	2,168
Restricted Stock and Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense	$ 15,445	15,102	0	0
Stock option expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		6,858	6,342	4,808
Restricted stock and RSU expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		4,248	1,749	3,074
Stock grants expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		319	0	0
Bonus Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total pre-tax expense		$ 6,524	$ 0	$ 0

Equity Awards and Instruments - Schedule of Fair Value Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	26.32%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	27.18%
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	31.04%	29.57%
Expected dividend yield	1.11%	1.38%	1.18%
Risk-free interest rate	1.31%	2.48%	2.40%
Expected term (in years)	3 years 9 months	3 years 9 months	3 years 9 months
Weighted average grant date fair value of options issued (USD per share)	$ 2.49	$ 1.66	$ 1.46

Equity Awards and Instruments - Options Outstanding Rollfoward (Details) - 2020 Incentive Award Plan - Stock Option $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance (in shares) \| shares	18,691,667
Option Activity [Abstract]
Granted (in shares) \| shares	10,000
Exercised (in shares) \| shares	(5,486,191)
Canceled (in shares) \| shares	(373,250)
Ending balance (in shares) \| shares	12,842,226
Shares exercisable (in shares) \| shares	6,327,541
Share-Based Payment Arrangement By Share-Based Payment Award, Options, Weighted Average Exercise Price Per Share [Roll Forward]
Beginning balance, weighted average exercise price (USD per share) \| $ / shares	$ 4.47
Granted, weighted average exercise price (USD per share) \| $ / shares	9.34
Exercised, weighted average exercise price (USD per share) \| $ / shares	3.47
Canceled, weighted average exercise price (USD per share) \| $ / shares	5.33
Ending balance, weighted average exercise price (USD per share) \| $ / shares	4.87
Weighted average exercise price, shares exercisable (USD per share) \| $ / shares	$ 4.42
Weighted remaining contractual life (in years)	2 years 21 days
Shares outstanding, intrinsic value \| $	$ 457,650
Shares exercisable, weighted remaining contractual life (in years)	1 year 5 months 19 days
Shares exercisable, intrinsic value \| $	$ 228,378

Equity Awards and Instruments - Additional Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 28, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercise price reduction (USD per share)	$ 1.50
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercised, intrinsic value		$ 72,275	$ 22,914	$ 18,291
Unrecognized compensation cost		$ 6,897
Cost not yet recognized, period for recognition		2 years 2 months 12 days
Stock Option \| 2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised		$ 9,128	$ 3,612	$ 2,179

Equity Awards and Instruments - Acquisition Options Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Aug. 28, 2020	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercise price, lower limit (USD per share)	$ 0.01
Share-based compensation expense			$ 33,051	$ 8,091	$ 7,882
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercise price, lower limit (USD per share)	$ 0.01
Share-based compensation expense			6,858	$ 6,342	$ 4,808
Stock Option \| Equity Incentive Plan \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)		900,000
Award vesting period		5 years
Stock options exercise price, upper limit (USD per share)		$ 6.805
Award service period		4 years
Stock options exercise price, lower limit (USD per share)		$ 0.01
Grant date fair value (USD per share)		$ 3.44
Accelerated share-based compensation cost			1,548
Share-based compensation expense			$ 2,012
Shares outstanding (in shares)			900,000
Shares outstanding, intrinsic value			$ 7,992

Equity Awards and Instruments - Stock Grants Narrative (Details) - Class B Common Stock - 2020 Incentive Award Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fully vested shares granted (in shares)	21,956	0	0
Fully vested shares granted	$ 319

Equity Awards and Instruments - Restricted Stock and RSUs Activity (Details) - $ / shares	3 Months Ended			12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Grant date fair value (USD per share)				$ 16.03	$ 7.24	$ 6.81
Restricted Stock and Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, beginning balance (in shares)			210,111	210,111
Granted (in shares)				2,481,670
Vested (in shares)				(1,148,656)
Shares canceled (in shares)				(88,371)
Unvested, ending balance (in shares)	1,454,754			1,454,754	210,111
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, beginning balance (USD per share)			$ 6.79	$ 6.79
Grant date fair value (USD per share)				16.03
Vested (USD per share)				14.58
Canceled (USD per share)				10.06
Unvested, ending balance (USD per share)	$ 16.17			$ 16.17	$ 6.79
Restricted Stock and Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Time-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	78,785	1,197,760	12,454
Restricted Stock and Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Performance-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	12,435	185,324
Restricted Stock and Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Upon Completion Of IPO Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)		994,912
Restricted Stock \| 2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)				1,863,824
Restricted Stock \| 2020 Incentive Award Plan \| Time-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	13,485	698,540	12,454
Restricted Stock \| 2020 Incentive Award Plan \| Performance-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	1,667	175,004
Restricted Stock \| 2020 Incentive Award Plan \| Upon Completion Of IPO Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)		962,674
Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)				617,846
Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Time-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	65,300	499,220	0
Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Performance-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	10,768	10,320
Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Upon Completion Of IPO Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)		32,238
Cash-Settled Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Time-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)		46,300
Cash-Settled Restricted Stock Units (RSUs) \| 2020 Incentive Award Plan \| Upon Completion Of IPO Vesting
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)		32,238

Equity Awards and Instruments - Restricted Stock and Restricted Stock Units Narrative (Details) - Restricted Stock and Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (USD per share)	$ 16.03	$ 7.24	$ 6.81
2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (USD per share)	$ 16.03
Shares withheld for tax withholding obligation (in shares)	339,833	54,418	81,173
Share-based compensation tax withholding payment	$ 7,951	$ 399	$ 637
Unrecognized compensation cost, excluding options	$ 19,420
Cost not yet recognized, period for recognition	3 years 7 months 6 days

Income Taxes - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Valuation allowance		$ 1,207	$ 2,329
Undistributed earnings of foreign subsidiaries		427,696
Undistributed earnings of foreign subsidiaries, subject to one-time transition tax by Tax Cut and Jobs Act and GILTI		329,315
Unrecognized tax benefits		1,223	1,763	$ 638	$ 872
Unrecognized tax benefits that would impact effective tax rate		1,175	1,733	627
Unrecognized tax benefits, income tax penalties and interest expense		(20)	101	8
Unrecognized tax benefits, income tax penalties and interest accrued		272	$ 362	$ 252
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards subject to expiration		533
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, not subject to expiration		1,798
Operating loss carryforwards and tax credit carryforwards not subject to expiration		4,286
Operating loss carryforwards and tax credit carryforwards not subject to expiration, valuation allowance		289
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards and tax credit carryforwards subject to limitation		$ 667
Accounting Standards Update 2016-16 \| Adjustments for New Accounting Principle, Early Adoption
Operating Loss Carryforwards [Line Items]
Tax benefit from intercompany sales	$ (46,369)

Income Taxes - Schedule of Income before Income Tax, Domestic and International (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 61,470	$ 61,691	$ 56,426
International	106,150	66,418	56,436
Income before income taxes	$ 167,620	$ 128,109	$ 112,862

Income Taxes - Schedule of Components of Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal									$ (11,094)	$ (7,696)	$ (18,634)
State									(3,597)	(2,486)	(873)
Foreign									(7,688)	(12,824)	(11,303)
Current income taxes									(22,379)	(23,006)	(30,810)
Deferred:
Federal									(5,194)	(2,389)	7,655
State									(1,272)	(412)	(508)
Foreign									(9,780)	2,069	52,913
Deferred income taxes									(16,246)	(732)	60,060
(Provision) benefit for income taxes	$ (16,480)	$ (10,705)	$ (4,264)	$ (7,176)	$ (11,979)	$ (6,640)	$ (801)	$ (4,318)	$ (38,625)	$ (23,738)	$ 29,250

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	2.90%	2.00%	0.90%
Permanent book/tax differences	(0.60%)	0.20%	(0.20%)
Stock‑based compensation	(5.20%)	(2.30%)	(2.40%)
Non-deductible officer compensation	4.60%	0.00%	0.00%
Expenses associated with IPO	3.30%	0.00%	0.00%
Tax credits	(2.10%)	(3.60%)	(3.30%)
Foreign tax rate differential	(2.00%)	(2.80%)	(4.20%)
Income tax reserves	(0.50%)	0.90%	(0.20%)
Intercompany sales of certain operating assets	0.00%	0.00%	(41.10%)
Net tax on foreign earnings (GILTI/FDII/FTC)	0.005	0.061	0
Other	1.10%	(3.00%)	(0.20%)
U.S. tax reform	0	0	0.038
Effective income tax rate	23.00%	18.50%	(25.90%)

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Components of Deferred Tax Assets [Abstract]
Accrued compensation	$ 31,580	$ 36,195
Net operating loss (“NOL”) and credit carryforwards	7,573	11,544
Intangible assets including goodwill	283	10,371
Other accruals not currently deductible	346	960
Allowance for doubtful accounts	382	472
Other comprehensive income	431	394
Lease liabilities	10,466	0
Other	138	239
Total deferred tax assets	51,199	60,175
Less: Valuation allowance	(1,207)	(2,329)
Net deferred tax assets	49,992	57,846
Components of Deferred Tax Liabilities [Abstract]
Deferred revenues	(7,257)	(12,830)
Property and equipment	(1,989)	(707)
Operating lease right-of-use assets	(10,070)	0
Prepaid expenses	(2,301)	(1,501)
Total deferred tax liabilities	(21,617)	(15,038)
Net deferred tax assets (liabilities)	$ 28,375	$ 42,808

Income Taxes Unrecognized Tax Benefits Rollfoward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit, beginning of year	$ 1,763	$ 638	$ 872
Tax positions related to prior years:
Additions	1,436	1,222	80
Reductions	(1,723)	(86)	(39)
Lapse of statute of limitations	(253)	(11)	(275)
Unrecognized tax benefit, end of year	$ 1,223	$ 1,763	$ 638

Fair Value of Financial Instruments - Narrative (Details)	1 Months Ended		12 Months Ended
	Mar. 31, 2020	Nov. 30, 2018 USD ($) $ / £	Dec. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Nov. 30, 2018 GBP (£) $ / £
Derivative [Line Items]
Term of contract (in years)			10 years
Interest Rate Swap \| Other Nonoperating Income (Expense)
Derivative [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net			$ 347,000
Interest Rate Swap \| Interest Expense
Derivative [Line Items]
Derivative payments			696,000
Interest Rate Swap \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount				$ 200,000,000
Term of contract (in years)	10 years
Derivative fair value			$ 347,000
Currency Swap \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount \| £					£ 65,000,000
Derivative foreign currency option strike price (USD per GBP) \| $ / £		1.375			1.375
Derivative purchase premium		$ 645,000
Derivative fair value		$ 0

Fair Value of Financial Instruments - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Liabilities, Fair Value Disclosure [Abstract]
Accruals and other current liabilities	$ 2,884	$ 5,100
Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Total assets	35,043	70,000
Liabilities, Fair Value Disclosure [Abstract]
Acquisition contingent consideration	4,299	6,599
Deferred compensation plan	2,591	2,544
Cash-settled equity awards	195
Total liabilities	7,085	9,143
Accruals and other current liabilities	2,884	5,100
Deferred compensation plan, current	169	153
Fair Value, Recurring \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Money market funds	34,696	70,000
Fair Value, Recurring \| Interest Rate Swap
Assets, Fair Value Disclosure [Abstract]
Interest rate swap	347
Level 1 \| Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Total assets	34,696	70,000
Liabilities, Fair Value Disclosure [Abstract]
Acquisition contingent consideration	0	0
Deferred compensation plan	2,591	2,544
Cash-settled equity awards	195
Total liabilities	2,786	2,544
Level 1 \| Fair Value, Recurring \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Money market funds	34,696	70,000
Level 1 \| Fair Value, Recurring \| Interest Rate Swap
Assets, Fair Value Disclosure [Abstract]
Interest rate swap	0
Level 2 \| Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Total assets	347	0
Liabilities, Fair Value Disclosure [Abstract]
Acquisition contingent consideration	0	0
Deferred compensation plan	0	0
Cash-settled equity awards	0
Total liabilities	0	0
Level 2 \| Fair Value, Recurring \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Money market funds	0	0
Level 2 \| Fair Value, Recurring \| Interest Rate Swap
Assets, Fair Value Disclosure [Abstract]
Interest rate swap	347
Level 3 \| Fair Value, Recurring
Assets, Fair Value Disclosure [Abstract]
Total assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Acquisition contingent consideration	4,299	6,599
Deferred compensation plan	0	0
Cash-settled equity awards	0
Total liabilities	4,299	6,599
Level 3 \| Fair Value, Recurring \| Money Market Funds
Assets, Fair Value Disclosure [Abstract]
Money market funds	0	$ 0
Level 3 \| Fair Value, Recurring \| Interest Rate Swap
Assets, Fair Value Disclosure [Abstract]
Interest rate swap	$ 0

Fair Value of Financial Instruments - Reconciliation of the Changes in Fair Value of Financial Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of year	$ 6,599	$ 4,316
Payments	(3,425)	(2,513)
Addition	2,380	4,498
Reclassification	0	180
Change in fair value	(1,340)	62
Foreign currency translation adjustments	85	56
Balance, end of year	$ 4,299	$ 6,599

Commitments and Contingencies (Details) $ in Thousands	12 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Hosted Software Solutions
Long-term Purchase Commitment [Line Items]
Long-term purchase commitment, amount	$ 82,810

Geographic Data (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 120,169	$ 75,945
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	50,306	34,758
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	56,322	34,039
Asia-Pacific (“APAC”)
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 13,541	$ 7,148

Interest Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Interest Expense, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
Interest expense	$ (7,913)	$ (9,731)	$ (9,607)
Interest income	437	1,532	842
Total interest expense, net	$ (7,476)	$ (8,199)	$ (8,765)

Other Income (Expense), Net - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Foreign exchange gain (loss), unrealized	$ 22,919	$ (5,591)	$ (418)
Other income (expense), net	2,027	34	654
Total other income (expense), net	24,946	$ (5,557)	$ 236
Derivative
Derivative [Line Items]
Foreign exchange gain (loss), unrealized	$ (487)

Other Income (Expense), Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Foreign exchange gain (loss), unrealized, intercompany	$ 22,310	$ (5,270)
Foreign exchange loss, unrealized	(22,919)	5,591	$ 418
Gain on change in fair value of interest rate swaps	347
Change in fair value of contingent consideration	(1,340)	$ 62	272
Insurance proceeds received in excess of replaced assets book value			$ 707
Derivative
Derivative [Line Items]
Foreign exchange loss, unrealized	$ 487

Realignment Costs - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Realignment costs	$ 10,022	$ (584)	$ 6,778
2020 Program
Restructuring Cost and Reserve [Line Items]
Realignment costs	$ 10,046

Realignment Costs - Realignment Activities Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Reserve [Roll Forward]
Balance, beginning of year	$ 491
Realignment costs	10,022	$ (584)	$ 6,778
Payments	(4,542)
Adjustments	269
Balance, end of year	6,240	491
2020 Program
Restructuring Reserve [Roll Forward]
Balance, beginning of year	0
Realignment costs	10,046
Payments	(4,278)
Adjustments	292
Balance, end of year	6,060	0
Prior Program
Restructuring Reserve [Roll Forward]
Balance, beginning of year	491	6,437
Realignment costs	(24)	(584)
Payments	(264)	(5,326)
Adjustments	(23)	(36)
Balance, end of year	$ 180	$ 491	$ 6,437

Realignment Costs - Schedule of Realignment Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Realignment costs	$ 10,022	$ (584)	$ 6,778
Cost of Revenues
Restructuring Cost and Reserve [Line Items]
Realignment costs	1,464	(236)	1,101
Cost of Revenues \| Subscriptions and licenses
Restructuring Cost and Reserve [Line Items]
Realignment costs	42	(51)	256
Cost of Revenues \| Services
Restructuring Cost and Reserve [Line Items]
Realignment costs	1,422	(185)	845
Research and development
Restructuring Cost and Reserve [Line Items]
Realignment costs	848	(171)	3,380
Selling and marketing
Restructuring Cost and Reserve [Line Items]
Realignment costs	5,945	(263)	2,252
General and administrative
Restructuring Cost and Reserve [Line Items]
Realignment costs	1,765	86	45
Operating Expenses
Restructuring Cost and Reserve [Line Items]
Realignment costs	$ 8,558	$ (348)	$ 5,677

Earnings Per Share - Narrative (Details) - shares	12 Months Ended
Earnings Per Share - Narrative (Details) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Participating securities outstanding (in shares)	149,754	321,126	198,242
Shares excluded from the computation of diluted net income per share attributable to common stockholders (in shares)	0	0	0

Earnings Per Share - Schedule of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator [Abstract]
Net income	$ 51,932	$ 5,844	$ 39,076	$ 29,669	$ 36,251	$ 20,427	$ 19,981	$ 26,437	$ 126,521	$ 103,096	$ 142,112
Less: Net income attributable to participating securities									(234)	(8)	(4)
Net income attributable to Class A and Class B common stockholders									$ 126,287	$ 103,088	$ 142,108
Denominator [Abstract]
Denominator for basic net income per share - weighted average shares (in shares)									289,863,272	284,625,642	285,805,096
Effect of dilutive securities (in shares)									9,507,857	9,171,065	6,819,400
Denominator for dilutive net income per share (in shares)									299,371,129	293,796,707	292,624,496
Net income per share, basic (USD per share)	$ 0.17	$ 0.02	$ 0.14	$ 0.10	$ 0.13	$ 0.07	$ 0.07	$ 0.09	$ 0.44	$ 0.36	$ 0.50
Net income per share, diluted (USD per share)	$ 0.17	$ 0.02	$ 0.13	$ 0.10	$ 0.13	$ 0.07	$ 0.07	$ 0.09	$ 0.42	$ 0.35	$ 0.49

Selected Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effect of Fourth Quarter Events [Line Items]
Total revenues	$ 219,567	$ 202,997	$ 184,290	$ 194,690	$ 202,922	$ 186,588	$ 169,605	$ 177,539	$ 801,544	$ 736,654	$ 691,710
Gross profit	169,004	160,369	147,585	157,431	163,021	151,537	132,974	144,972	634,389	592,504	560,386
Income from operations	54,275	5,323	44,591	45,961	42,705	41,402	19,468	38,290	150,150	141,865	121,391
(Provision) benefit for income taxes	16,480	10,705	4,264	7,176	11,979	6,640	801	4,318	38,625	23,738	(29,250)
Net income	$ 51,932	$ 5,844	$ 39,076	$ 29,669	$ 36,251	$ 20,427	$ 19,981	$ 26,437	$ 126,521	$ 103,096	$ 142,112
Net income per share, basic (USD per share)	$ 0.17	$ 0.02	$ 0.14	$ 0.10	$ 0.13	$ 0.07	$ 0.07	$ 0.09	$ 0.44	$ 0.36	$ 0.50
Net income per share, diluted (USD per share)	$ 0.17	$ 0.02	$ 0.13	$ 0.10	$ 0.13	$ 0.07	$ 0.07	$ 0.09	$ 0.42	$ 0.35	$ 0.49
Total pre-tax expense									$ 33,051	$ 8,091	$ 7,882
Expenses associated with initial public offering									26,130	0	0
Restricted Stock and Restricted Stock Units (RSUs)
Effect of Fourth Quarter Events [Line Items]
Total pre-tax expense		$ 15,445							$ 15,102	$ 0	$ 0

Subsequent Events (Details)		12 Months Ended
Subsequent Events (Details)	Jan. 26, 2021 USD ($) share_rate day $ / shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jan. 25, 2021 USD ($)
Subsequent Event [Line Items]
Payment of capped call transaction costs		$ 1,373,000	$ 0	$ 0
Payments of debt issuance costs		$ 432,000	$ 0	$ 0
Subsequent Event
Subsequent Event [Line Items]
Capped call transaction, cap price (USD per share) \| $ / shares	$ 72.9795
Capped call, premium above share price, percentage	65.00%
Subsequent Event \| 2026 Notes \| Convertible Debt
Subsequent Event [Line Items]
Debt instrument, face amount	$ 690,000,000
Debt instrument, interest rate, stated percentage	0.125%
Payment of capped call transaction costs	$ 25,530,000
Repayment of credit facility	250,500,000
Payments of debt issuance costs	$ 18,030,000
Debt instrument, convertible, threshold percentage of stock price trigger	130.00%
Debt instrument, convertible, threshold trading days \| day	20
Debt instrument, convertible, threshold consecutive trading days \| day	30
Debt instrument, redemption price, percentage	98.00%
Debt instrument, convertible, number of equity instruments, conversion rate \| share_rate	15.5925
Debt instrument, convertible, conversion price (USD per share) \| $ / shares	$ 64.13
Number of trading days after maturity date, debt redeemable	40 days
Subsequent Event \| 2026 Notes \| Convertible Debt \| Debt Conversion Terms One
Subsequent Event [Line Items]
Debt instrument, convertible, threshold trading days \| day	20
Debt instrument, convertible, threshold consecutive trading days \| day	30
Subsequent Event \| 2026 Notes \| Convertible Debt \| Debt Conversion Terms Two
Subsequent Event [Line Items]
Debt instrument, convertible, threshold consecutive business days \| day	5
Debt instrument, convertible, threshold consecutive trading days, after threshold consecutive business days \| day	10
Subsequent Event \| Revolving Credit Facility \| New Credit Facility \| Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity					$ 850,000,000