SS&C Technologies Holdings Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>SS&C Technologies Holdings Inc. filed its Q1 2024 10-Q, detailing financial positions and instruments.</b>

AI Summary

SS&C Technologies Holdings Inc (SSNC) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. SS&C Technologies Holdings Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to various financial statement line items, including operating expenses, accumulated translation adjustments, and furniture, fixtures, and equipment. Specific financial instruments and investments such as money market funds, marketable equity securities, and seed capital investments are detailed as of December 31, 2023, and March 31, 2024. Information on debt instruments, including Senior Notes and Term Loans, is provided for the periods ending December 31, 2023, and March 31, 2024. The report also references equity components like common stock, additional paid-in capital, and stock options/SARS as of various dates in 2023 and 2024.

Why It Matters

For investors and stakeholders tracking SS&C Technologies Holdings Inc, this filing contains several important signals. This 10-Q filing provides a snapshot of SS&C Technologies' financial health and operational details for the first quarter of 2024, crucial for investors assessing performance and stability. The detailed breakdown of financial assets, liabilities, and equity components offers insights into the company's investment strategies, debt management, and overall financial structure.

Risk Assessment

Risk Level: low — SS&C Technologies Holdings Inc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately alarming information, suggesting a routine disclosure.

Analyst Insight

Review the detailed financial statements and footnotes within the 10-Q to understand the specific changes in assets, liabilities, and equity compared to the previous quarter.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-01 — Filing Date (Filed as of date)
• 2023-12-31 — Previous Period End Date (Data points for prior period)
• 2023-01-01 — Start Date of Comparative Period (Operating Expense and Selling & Marketing Expense period)
• 2023-03-31 — End Date of Comparative Period (Operating Expense and Selling & Marketing Expense period)

Key Players & Entities

• SS&C Technologies Holdings Inc. (company) — Filer
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-01 (date) — Filed as of date
• 7372 (other) — Standard Industrial Classification
• DE (other) — State of Incorporation
• 860-298-4500 (other) — Business Phone
• 001-34675 (other) — SEC File Number
• SSNC (ticker) — Ticker Symbol

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share SSNC The Nasdaq Global Se
• $3,515.3 million — 027 None We intend to refinance the $3,515.3 million Term Loans B-3, B-4 and B-5, which are

Filing Documents

• ssnc-20240331.htm (10-Q) — 1660KB
• ssnc-ex10_1.htm (EX-10.1) — 35KB
• ssnc-ex31_1.htm (EX-31.1) — 11KB
• ssnc-ex31_2.htm (EX-31.2) — 11KB
• ssnc-ex32.htm (EX-32) — 13KB
• img164090713_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-051251.txt (&nbsp;) — 7732KB
• ssnc-20240331.xsd (EX-101.SCH) — 1349KB
• ssnc-20240331_htm.xml (XML) — 1253KB

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets at March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 21

Controls and Procedures

Item 4. Controls and Procedures 22

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 22

Risk Factors

Item 1A. Risk Factors 22

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 23

Exhibits

Item 6. Exhibits 24 EXHIBIT INDEX 24 SIGNATURE 25 SS&C Technologies Holdings, Inc., or "SS&C Holdings," is our top-level holding company. SS&C Technologies, Inc., or "SS&C," is our primary operating company and a wholly-owned subsidiary of SS&C Technologies Holdings, Inc. "We," "us," "our" and the "Company" mean SS&C Technologies Holdings, Inc. and its consolidated subsidiaries, including SS&C. This Quarterly Report on Form 10-Q may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "estimates", "projects", "forecasts", "may", "assume", "intend", "will", "continue", "opportunity", "predict", "potential", "future", "guarantee", "likely", "target", "indicate", "would", "could" and "should" and similar expressions are intended to identify forward-looking statements. The important factors discussed under the caption "Risk Factors" in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 28, 2024, among others, could cause actual results to differ materially from those indicated by forward-looking statements made herein and presented elsewhere by management from time to time. We do not undertake an obligation to update its forward-looking statements to reflect future events or circumstances. 2 PART I

Financ ial Statements

Item 1. Financ ial Statements SS&C TECHNOLOGIES HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS (In millions, except per share data) (Unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 412.5 $ 432.2 Funds receivable and funds held on behalf of clients 2,027.0 2,615.6 Accounts receivable, net of allowance for credit losses of $ 27.4 and $ 25.1 , respectively 879.9 799.4 Contract assets 43.2 36.1 Prepaid expenses and other current assets 142.8 165.8 Restricted cash and cash equivalents 2.2 2.4 Total current assets 3,507.6 4,051.5 Property, plant and equipment, net (Note 2) 300.1 315.3 Operating lease right-of-use assets 213.5 221.4 Investments (Note 3) 183.7 184.7 Unconsolidated affiliates (Note 4) 346.7 345.2 Contract assets 100.2 99.7 Goodwill (Note 5) 8,933.2 8,969.5 Intangible and other assets, net of accumulated amortization of $ 4,203.6 and $ 4,063.4 , respectively 3,801.8 3,915.2 Total assets $ 17,386.8 $ 18,102.5 Liabilities and Equity Current liabilities: Current portion of long-term debt (Note 6) $ 50.8 $ 51.5 Client funds obligations 2,027.0 2,615.6 Accounts payable 38.3 80.3 Income taxes payable 65.3 22.3 Accrued employee compensation and benefits 168.9 270.2 Interest payable 2.8 29.4 Other accrued expenses 226.5 232.3 Deferred revenues 493.2 470.3 Total current liabilities 3,072.8 3,771.9 Long-term debt, net of current portion (Note 6) 6,593.5 6,668.5 Operating lease liabilities 191.7 199.1 Other long-term liabilities 256.2 248.7 Deferred income taxes 779.9 816.6 Total liabilities 10,894.1 11,704.8 Commitments and contingencies (Note 13) Stockholders' equity (Note 7): Preferred stock, $ 0.01 par value per share, 5.0 million shares authorized; no shares issued — — Class A no