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FINANCIAL HIGHLIGHTS


OPERATING DATA (In Thousands) 2014 2015 2016
Revenues
Recurring
$419,771 $516,400 $654,199
Services $86,165 $101,681 $127,092
TOTAL REVENUES $505,936 $618,081 $781,291
Non-GAAP Operating Income* $101,670 $126,768 $157,550
As a % of Total Revenues 20% 21% 20%
BALANCE SHEET DATA (In Thousands) 2014 2015 2016
Cash and Cash Equivalents $108,298 $109,325 $73,773
Corporate Investments in Marketable Securities $10,156 $20,058 $24,088
TOTAL ASSETS $1,190,298 $1,465,569 $1,152,581
Deferred Revenue $109,705 $145,727 $173,976
Long-Term Debt
Including Capital Lease Oblications,
Net of Current Portions
$3,759 $3,665 $3,985
Shareholders Equity $271,749 $334,066 $432,108

RECURRING
REVENUES

Dollars in Millions

Recurring Revenues Dollars in Millions

TOTAL
REVENUES

Dollars in Millions

Total Revenues Dollars in Millions

The term “Non-GAAP Operating Income” is a non-GAAP financial measure that is defined by Ultimate as operating income excluding stock-based compensation expense, amortization of acquired intangibles, and transaction costs related to business combinations. For more detail, see “Non-GAAP Measures” and “Unaudited Reconciliation of Non-GAAP Measures” in Note 4 of Notes at the end of this annual report.