Document and Entity Information Document - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 10, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	VERISIGN INC/CA
Entity Central Index Key	0001014473
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		102,328,550
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 3.4

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 231,945	$ 228,659
Marketable securities	1,565,962	1,686,771
Accounts receivable, net	13,051	12,638
Other current assets	31,384	39,856
Total current assets	1,842,342	1,967,924
Property and equipment, net	266,125	295,570
Goodwill	52,527	52,527
Long-term deferred tax assets	9,385	17,361
Deposits Assets, Noncurrent	145,000	2,000
Other long-term assets	19,193	22,355
Total long-term assets	492,230	389,813
Total assets	2,334,572	2,357,737
Current liabilities:
Accounts payable and accrued liabilities	203,920	188,171
Deferred revenues	688,265	680,483
Convertible Debentures, including contingent interest derivative	629,764	634,326
Total current liabilities	1,521,949	1,502,980
Long-term deferred revenues	287,424	280,859
Senior Notes	1,237,189	1,235,354
Deferred Tax Liabilities, Net, Noncurrent	371,433	294,194
Other long-term tax liabilities	117,172	114,797
Total long-term liabilities	2,013,218	1,925,204
Total liabilities	3,535,167	3,428,184
Commitments and contingencies
Stockholders' deficit:
Preferred stock	0	0
Common stock	324	323
Additional paid-in capital	16,987,488	17,558,822
Accumulated deficit	(18,184,954)	(18,625,599)
Accumulated other comprehensive loss	(3,453)	(3,993)
Total stockholders' deficit	(1,200,595)	(1,070,447)
Total liabilities and stockholders' deficit	$ 2,334,572	$ 2,357,737

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	5,000	5,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	1,000,000	1,000,000
Common Stock, Shares, Issued	322,990	322,990
Common stock, outstanding shares	110,072	110,072

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenues	$ 1,142,167	$ 1,059,366	$ 1,010,117
Costs and expenses:
Cost of revenues	198,242	192,788	188,425
Sales and marketing	80,250	90,184	92,001
Research and development	59,100	63,718	67,777
General and administrative	118,003	106,730	97,487
Total costs and expenses	455,595	453,420	445,690
Operating income	686,572	605,946	564,427
Interest expense	(115,564)	(107,631)	(85,994)
Non-operating income, net	10,165	(10,665)	4,878
Income from continuing operations before income taxes	581,173	487,650	483,311
Income tax (expense) benefit	(140,528)	(112,414)	(128,051)
Net income	440,645	375,236	355,260
Realized foreign currency translation adjustments, included in net income	85	(291)	0
Change in unrealized gain on investments, net of tax	533	(519)	84
Realized gain on investments, net of tax, included in net income	(78)	(185)	3
Other comprehensive income (loss)	540	(995)	87
Comprehensive income	$ 441,185	$ 374,241	$ 355,347
Earnings per share
Earnings Per Share, Basic	$ 4.12	$ 3.29	$ 2.80
Earnings Per Share, Diluted	$ 3.42	$ 2.82	$ 2.52
Shares used to compute net income per share
Basic	107,001	114,155	126,710
Diluted	128,833	133,031	140,895

Consolidated Statements Of Stockholders' Equity (Deficit) And Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total [Member]
Balance at Dec. 31, 2013		$ 320	$ 18,935,302	$ (19,356,095)	$ (3,085)	$ (423,558)
Balance, shares at Dec. 31, 2013		133,724
Net income	$ 355,260	$ 0	0	355,260	0	355,260
Other Comprehensive Income (Loss), Net of Tax	87	0	0	0	87	87
Issuance of common stock under stock plans		$ 2	17,595	0	0	17,597
Issuance of common stock under stock plans, shares		1,341
Stock-based compensation		$ 0	46,728	0	0	46,728
Net excess income tax benefits associated with stock-based compensation and other		0	3,823	0	0	3,823
Repurchase of common stock		$ 0	(883,403)	0	0	(883,403)
Repurchase of common stock, shares		(16,613)
Balance at Dec. 31, 2014		$ 322	18,120,045	(19,000,835)	(2,998)	(883,466)
Balance, shares at Dec. 31, 2014		118,452
Net income	375,236	$ 0	0	375,236	0	375,236
Other Comprehensive Income (Loss), Net of Tax	(995)	0	0	0	(995)	(995)
Issuance of common stock under stock plans		$ 1	14,689	0	0	14,690
Issuance of common stock under stock plans, shares		1,291
Stock-based compensation		$ 0	48,793	0	0	48,793
Net excess income tax benefits associated with stock-based compensation and other		0	18,464	0	0	18,464
Repurchase of common stock		$ 0	(643,169)	0	0	(643,169)
Repurchase of common stock, shares		(9,671)
Balance at Dec. 31, 2015	$ (1,070,447)	$ 323	17,558,822	(18,625,599)	(3,993)	(1,070,447)
Balance, shares at Dec. 31, 2015	110,072	110,072
Net income	$ 440,645	$ 0	0	440,645	0	440,645
Other Comprehensive Income (Loss), Net of Tax	540	0	0	0	540	540
Issuance of common stock under stock plans		$ 1	13,669	0	0	13,670
Issuance of common stock under stock plans, shares		1,128
Stock-based compensation		$ 0	52,430	0	0	52,430
Net excess income tax benefits associated with stock-based compensation and other		0	25,058	0	0	25,058
Repurchase of common stock		$ 0	(662,491)	0	0	(662,491)
Repurchase of common stock, shares		(8,109)
Balance at Dec. 31, 2016	$ (1,200,595)	$ 324	$ 16,987,488	$ (18,184,954)	$ (3,453)	$ (1,200,595)
Balance, shares at Dec. 31, 2016	110,072	103,091

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 440,645	$ 375,236	$ 355,260
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment and amortization of other intangible assets	58,167	61,491	63,690
Stock-based compensation	50,044	46,075	43,977
Excess tax benefit associated with stock-based compensation	(25,058)	(18,464)	(6,054)
Unrealized Gain (Loss) on Derivatives	(2,402)	14,130	(2,249)
contingent interest payment for debenture	13,385	10,759	0
Amortization of Financing Costs and Discounts	13,411	12,292	10,878
Other, net	(3,787)	(1,781)	480
Changes in operating assets and liabilities
Accounts receivable	(871)	661	(73)
Prepaid expenses and other assets	8,980	(1,728)	11,571
Accounts payable and accrued liabilities	40,244	21,013	45,419
Deferred revenues	14,347	70,988	34,518
Net deferred income taxes and other long term tax liabilities	87,614	82,328	43,532
Net cash provided by operating activities	667,949	651,482	600,949
Cash flows from investing activities:
Proceeds from maturities and sales of marketable securities	3,817,899	2,767,027	3,428,659
Purchases of marketable securities	(3,691,057)	(3,219,329)	(3,277,096)
Purchases of property and equipment	(26,574)	(40,656)	(39,327)
Payments to Acquire Intangible Assets	(143,000)	0	0
Other investing activities	2,333	(3,941)	452
Net cash provided by (used in) investing activities	(40,399)	(496,899)	112,688
Cash flows from financing activities:
Proceeds from issuance of common stock from option exercises and employee stock purchase plans	13,670	14,690	17,597
Repurchases of common stock	(662,491)	(643,169)	(883,403)
Proceeds received from borrowing	0	492,237	0
Excess tax benefit associated with stock-based compensation	25,058	18,464	6,054
Net cash used in financing activities	(623,763)	(117,778)	(859,752)
Effect of exchange rate changes on cash and cash equivalents	(501)	246	(1,500)
Net increase (decrease) in cash and cash equivalents	3,286	37,051	(147,615)
Cash and cash equivalents at beginning of period	228,659	191,608	339,223
Cash and cash equivalents at end of period	231,945	228,659	191,608
Supplemental cash flow disclosures:
Cash paid for interest, net of capitalized interest	115,544	99,473	75,088
Cash paid for income taxes, net of refunds received	$ 14,303	$ 39,723	$ 35,201

Description Of Business And Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Description Of Business And Summary Of Significant Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

Description of Business

VeriSign, Inc. (“Verisign” or “the Company”) was incorporated in Delaware on April 12, 1995. The Company has one reportable segment, which consists of Registry Services and Security Services. Registry Services ensure the security, stability and resiliency of key internet infrastructure and services, including the .com and .net domains, two of the Internet’s root servers, and operation of the root-zone maintainer functions for the core of the internet’s Domain Name System (“DNS”). Security Services provides infrastructure assurance services consisting of Distributed Denial of Services (“DDoS”) Protection Services, Verisign iDefense Security Intelligence Services (“iDefense”) and Managed DNS Services. On February 9, 2017, the Company entered into an agreement to sell the iDefense business, subject to customary closing conditions.

Basis of Presentation

The accompanying consolidated financial statements of Verisign and its subsidiaries have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States (“U.S.”). All significant intercompany accounts and transactions have been eliminated.

The preparation of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.

Reclassifications

Certain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on net income as previously reported.

Significant Accounting Policies

Cash and Cash Equivalents

Verisign considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash equivalents include certain money market funds, debt securities and various deposit accounts. Verisign maintains its cash and cash equivalents with financial institutions that have investment grade ratings and, as part of its cash management process, performs periodic evaluations of the relative credit standing of these financial institutions.

Marketable Securities

Marketable securities primarily consist of debt securities issued by the U.S. Treasury. All marketable securities are classified as available-for-sale and are carried at fair value. Unrealized gains and losses, net of taxes, are reported as a component of Accumulated other comprehensive loss. The specific identification method is used to determine the cost basis of the marketable securities sold. The Company classifies its marketable securities as current based on their nature and availability for use in current operations.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets of 35 to 47 years for buildings, 10 years for building improvements and three to five years for computer equipment, software, office equipment, and furniture and fixtures. Leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful lives of the assets or associated lease terms.

Capitalized Software

Software included in property and equipment includes amounts paid for purchased software and development costs for internally developed software. The following table summarizes such costs capitalized during 2016 and 2015.



	Year Ended December 31,
	2016		2015
	(In thousands)
Third-party implementation and consulting services	$	493	$	426
Internally developed software	$	17,523	$	20,061

Goodwill and Other Long-lived Assets

Goodwill represents the excess of purchase consideration over fair value of net assets of businesses acquired. Goodwill is not amortized, but instead tested for impairment. All of the Company’s goodwill is included in the Registry Services reporting unit which has a negative carrying value. The Company performs a qualitative analysis at the end of each reporting period to determine if any events have occurred or circumstances exist that would indicate that it is more likely than not that a goodwill impairment exists. The qualitative factors the Company reviews include, but are not limited to: (a) macroeconomic conditions; (b) industry and market considerations such as a deterioration in the environment in which an entity operates; (c) a significant adverse change in legal factors or in the business climate; (d) an adverse action or assessment by a regulator; (e) unanticipated competition; (f) loss of key personnel; (g) a more-likely-than-not expectation of sale or disposal of a reporting unit or a significant portion thereof; or (h) testing for recoverability of a significant asset group within a reporting unit.

Long-lived assets, such as property, plant, and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or asset group, may not be recoverable. Such events or circumstances include, but are not limited to, a significant decrease in the fair value of the underlying business, a significant decrease in the benefits realized from an acquired business, difficulties or delays in integrating the business or a significant change in the operations of an acquired business. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset, or asset group, to estimated undiscounted future cash flows expected to be generated by the asset, or asset group. An impairment charge is recognized in the amount by which the carrying amount of the asset exceeds its fair value.

As of December 31, 2016, the Company’s assets include a deposit related to the purchase of the contractual rights to the .web gTLD, as discussed in Note 4. The amount paid to date has been recorded as a deposit until such time that the contractual rights are transferred to the Company. This asset would be tested for recoverability if the Company were to determine that it is no longer probable that the rights will be transferred. At the time of the transfer of the contractual rights, the Company will record the amount as an indefinite-lived intangible asset subject to review for impairment on an annual basis or more frequently if events or changes in circumstances indicate that an impairment is more likely than not.

3.25% Junior Subordinated Convertible Debentures Due 2037 (“Subordinated Convertible Debentures”)

Upon issuance of the Subordinated Convertible Debentures, Verisign separated the liability (debt) and equity (conversion option) components in a manner that reflected the borrowing rate for a similar non-convertible debt. The liability component was recognized based on the fair value of a similar instrument without a conversion feature at issuance. The excess of the principal amount of the Subordinated Convertible Debentures over the liability component at issuance is the equity component or debt discount. Such excess represents the estimated fair value of the conversion feature and is recorded as Additional paid-in capital. The debt discount is amortized using the Company’s effective interest rate over the term of the Subordinated Convertible Debentures as a non-cash charge to interest expense.

The Subordinated Convertible Debentures also have a contingent interest payment provision that requires the Company to pay interest based on certain thresholds, and upon the occurrence of certain events, as outlined in the Indenture governing the Subordinated Convertible Debentures. The contingent interest payment provision has been identified as an embedded derivative, which is accounted for separately at fair value, and is marked to market at the end of each reporting period, with any gains and losses recorded in Non-operating income (loss), net. Contingent interest payments reflect the partial settlement of the embedded derivative. Verisign will have the right to redeem the Subordinated Convertible Debentures under the terms of the indenture, starting August 15, 2017. Therefore, the fair value of the contingent interest embedded derivative for periods after August 15, 2017 is negligible.

Foreign Currency Remeasurement

Verisign conducts business in several different countries and transacts in multiple currencies. The functional currency for all of Verisign’s international subsidiaries is the U.S. Dollar. The Company’s subsidiaries’ financial statements are remeasured into U.S. Dollars using a combination of current and historical exchange rates and any remeasurement gains and losses are included in Non-operating income (loss), net. Remeasurement gains or losses in each of the last three years were $1.0 million or less.

Verisign maintains a foreign currency risk management program designed to mitigate foreign exchange risks associated with the monetary assets and liabilities that are denominated in currencies other than the U.S. dollar. The primary objective of this program is to minimize the gains and losses resulting from fluctuations in exchange rates. The Company does not enter into foreign currency transactions for trading or speculative purposes, nor does it hedge foreign currency exposures in a manner that entirely offsets the effects of changes in exchange rates. The program may entail the use of forward or option contracts, which are usually placed and adjusted monthly. These foreign currency forward contracts are derivatives and are recorded at fair market value. The Company records gains and losses on foreign currency forward contracts in Non-operating income (loss), net. The Company recorded gains or losses related to foreign currency forward contracts of less than $1.0 million in each of the last three years.

As of December 31, 2016, Verisign held foreign currency forward contracts in notional amounts totaling $39.2 million to mitigate the impact of exchange rate fluctuations associated with certain assets and liabilities held in foreign currencies.

Revenue Recognition

Verisign recognizes revenues when the following four criteria are met:


•	Persuasive evidence of an arrangement exists: It is the Company’s customary practice to have a written contract, signed by both the customer and Verisign or a service order form from those customers who have previously negotiated a standard master services agreement with Verisign.


•	Delivery has occurred or services have been rendered: The Company’s services are usually delivered continuously from service activation date through the term of the arrangement.


•	The fee is fixed or determinable: Substantially all of the Company’s revenue arrangements have fixed or determinable fees.

•

Collectability is reasonably assured: Collectability is assessed on a customer-by-customer basis. Verisign typically sells to customers for whom there is a history of successful collection. The majority of customers either maintain a deposit with Verisign or provide an irrevocable letter of credit in excess of the amounts owed. New customers are subjected to a credit review process that evaluates the customer’s financial condition and, ultimately, their ability to pay. If Verisign determines from the outset of an arrangement that collectability is not probable based upon its credit review process, revenues are recognized as cash is collected.

Registry Services

Registry Services revenues primarily arise from fixed fees charged to registrars for the initial registration or renewal of .com, .net, and other domain names. Revenues from the initial registration or renewal of domain names are deferred and recognized ratably over the registration term, generally one year and up to ten years. Fees for renewals and advance extensions to the existing term are deferred until the new incremental period commences. These fees are then recognized ratably over the renewal term.

Verisign also offers promotional marketing programs to its registrars based upon market conditions and the business environment in which the registrars operate. Amounts payable to these registrars for such promotional marketing programs are usually recorded as a reduction of revenue. If Verisign obtains an identifiable benefit separate from the services it provides to the registrars, then amounts payable up to the fair value of the benefit received are recorded as advertising expenses and the excess, if any, is recorded as a reduction of revenue.

Security Services

Following the revenue recognition criteria above, revenues from Security Services are usually deferred and recognized over the service term, generally one to two years.

Advertising Expenses

Advertising costs are expensed as incurred and are included in Sales and marketing expenses. Advertising expenses, including costs for advertising campaigns conducted jointly with our registrar customers were $17.2 million, $16.0 million, and $20.2 million in 2016, 2015, and 2014, respectively.

Income Taxes

Verisign uses the asset and liability method to account for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company records a valuation allowance to reduce deferred tax assets to an amount whose realization is more likely than not. For every tax-paying component and within each tax jurisdiction, all deferred tax liabilities and assets are offset and presented as a single net noncurrent asset or liability.

The Company’s income taxes payable is reduced by the tax benefits from restricted stock unit (“RSU”) vestings. The Company’s income tax benefit related to RSUs is equal to the fair market value of the stock at the vesting date. If the income tax benefit at exercise or vesting date is greater than the income tax benefit recorded based on the grant date fair value of the stock options or RSUs, such excess tax benefit is recognized as an increase to Additional paid-in capital. If the income tax benefit at exercise or vesting date is less than the income tax benefit recorded based on the grant date fair value of the stock options or RSUs, the shortfall is recognized as a reduction of Additional paid-in capital to the extent of previously recognized excess tax benefits.

Verisign’s global operations involve dealing with uncertainties and judgments in the application of complex tax regulations in multiple jurisdictions. The final taxes payable are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from U.S. federal, state, and international tax audits. The Company may only recognize or continue to recognize tax positions that are more likely than not to be sustained upon examination. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity

of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from its current estimate of the tax liabilities.

The Company’s assumptions, judgments and estimates relative to the value of a deferred tax asset take into account predictions of the amount and character of future taxable income, such as income from operations or capital gains income. Actual operating results and the underlying amount and character of income in future years could render the Company’s current assumptions, judgments and estimates of recoverable net deferred taxes inaccurate. Any of the assumptions, judgments and estimates mentioned above could cause the Company’s actual income tax obligations to differ from its estimates, thus materially impacting its financial condition and results of operations.

Stock-based Compensation

The Company’s stock-based compensation is primarily related to RSUs granted to employees and its employee stock purchase plan (“ESPP”). For awards that are expected to vest, after considering estimated forfeitures, stock-based compensation expense is typically recognized ratably over the requisite service period. The Company also grants RSUs which include performance conditions, and in some cases market conditions, to certain executives. The expense for these performance-based RSUs is recognized based on the probable outcome of the performance conditions. The expense recognized for awards with market conditions is based on the grant date fair value of the awards including the impact of the market conditions, using a Monte Carlo simulation model. The Company uses the Black-Scholes option pricing model to determine the fair value of its ESPP offerings. The determination of the fair value of stock-based payment awards using the Monte Carlo simulation model or the Black-Scholes option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables.

Earnings per Share

The Company computes basic earnings per share by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share gives effect to dilutive potential common shares, including outstanding stock options, unvested RSUs, ESPP offerings and the conversion spread related to the Subordinated Convertible Debentures using the treasury stock method.

Fair Value of Financial Instruments

The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:


•	Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.


•	Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.


•	Level 3: Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.

The Company measures and reports certain financial assets and liabilities at fair value on a recurring basis, including its investments in money market funds classified as Cash and cash equivalents, marketable securities, foreign currency forward contracts, and the contingent interest derivative associated with the Subordinated Convertible Debentures.

Legal Proceedings

Verisign is involved in various investigations, claims and lawsuits arising in the normal conduct of its business, none of which, in its opinion, will have a material adverse effect on its financial condition, results of operations, or cash flows. The Company cannot assure you that it will prevail in any litigation. Regardless of the outcome, any litigation may require the Company to incur significant litigation expense and may result in significant diversion of management attention.

While certain legal proceedings and related indemnification obligations to which the Company is a party specify the amounts claimed, such claims may not represent reasonably possible losses. Given the inherent uncertainties of the litigation, the ultimate outcome of these matters cannot be predicted at this time, nor can the amount of possible loss or range of loss, if any, be reasonably estimated, except in circumstances where an aggregate litigation accrual has been recorded for probable and reasonably estimable loss contingencies. A determination of the amount of accrual required, if any, for these contingencies is made after careful analysis of each matter. The required accrual may change in the future due to new developments in each matter or changes in approach such as a change in settlement strategy in dealing with these matters. The Company does not believe that any such matter currently being reviewed will have a material adverse effect on its financial condition, results of operations, or cash flows.

Recent Accounting Pronouncements

On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard will become effective for the Company on January 1, 2018. The FASB also issued several amendments to the standard, including clarification on accounting for licenses of intellectual property and identifying performance obligations. The Company’s evaluation of the new revenue guidance is substantially complete. The Company does not currently expect the adoption of the new revenue standard to have a material impact on its consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases. The guidance introduces a lessee model that requires most leases to be reported on the balance sheet. This ASU will become effective for the Company on January 1, 2019 and requires the modified retrospective transition method. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for share-based payment award transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The ASU requires that excess tax benefits and tax deficiencies (the tax effect of the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes) be recognized as income tax expense or benefit in the Consolidated Statements of Comprehensive Income. This change could result in increased volatility in the Company’s effective tax rate in future periods. There are different transition methods for different aspects of the standard. The new standard became effective for the Company on January 1, 2017. Upon adoption of this ASU in the first quarter of 2017, the Company expects to record a deferred tax asset, net of a valuation allowance, for tax credit and tax loss carryforwards related to previously unrecognized excess tax benefits on share-based awards. Additionally, as permitted under the new ASU, the Company has elected to change its policy on accounting for forfeitures and recognize them as they occur. Both of these changes will be adopted using the modified retrospective transition method, which will result in a cumulative-effect adjustment to the January 1, 2017 opening retained earnings balance.

Cash, Cash Equivalents, And Marketable Securities

12 Months Ended

Dec. 31, 2016

Cash, Cash Equivalents And Marketable Securities [Abstract]

Cash, Cash Equivalents, and Marketable Securities [Text Block]

Cash, Cash Equivalents, and Marketable Securities

The following table summarizes the Company’s cash, cash equivalents, and marketable securities:



	As of December 31,
	2016		2015
	(In thousands)
Cash	$	39,183	$	99,027
Money market funds	134,790		137,593
Time deposits	4,632		4,007
Debt securities issued by the U.S. Treasury	1,626,764		1,685,882
Equity securities of public companies	2,174		890
Total	$	1,807,543	$	1,927,399

Included in Cash and cash equivalents	$	231,945	$	228,659
Included in Marketable securities	$	1,565,962	$	1,686,771
Included in Other long-term assets (Restricted cash)	$	9,636	$	11,969

The fair value of the debt securities held as of December 31, 2016 was $1.6 billion, including less than $1.0 million of gross and net unrealized losses. All of the debt securities held as of December 31, 2016 have contractual maturities of less than one year.

Fair Value Of Financial Instruments

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Of Financial Instruments

Fair Value of Financial Instruments

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and December 31, 2015:



			Fair Value Measurement Using
	Total Fair Value		Level 1		Level 2		Level 3
	(In thousands)
As of December 31, 2016:
Assets:
Investments in money market funds	$	134,790	$	134,790	$	—	$	—
Debt securities issued by the U.S. Treasury	1,626,764		1,626,764		—		—
Equity securities of public companies	2,174		2,174		—		—
Foreign currency forward contracts (1)	242		—		242		—
Total	$	1,763,970	$	1,763,728	$	242	$	—
Liabilities:
Contingent interest derivative on Subordinated Convertible Debentures	$	14,339	$	—	$	—	$	14,339
Foreign currency forward contracts (2)	87		—		87		—
Total	$	14,426	$	—	$	87	$	14,339
As of December 31, 2015:
Assets:
Investments in money market funds	$	137,593	$	137,593	$	—	$	—
Debt securities issued by the U.S. Treasury	1,685,882		1,685,882		—		—
Equity securities of public companies	890		890		—		—
Foreign currency forward contracts (1)	230		—		230		—
Total	$	1,824,595	$	1,824,365	$	230	$	—
Liabilities:
Contingent interest derivative on Subordinated Convertible Debentures	$	30,126	$	—	$	—	$	30,126
Foreign currency forward contracts (2)	164		—		164		—
Total	$	30,290	$	—	$	164	$	30,126


(1)	Included in Other current assets


(2)	Included in Accounts payable and accrued liabilities

The fair value of the Company’s investments in money market funds approximates their face value. Such instruments are classified as Level 1 and are included in Cash and cash equivalents.

The fair value of the debt securities consisting of U.S. Treasury bills is based on their quoted market prices and are classified as Level 1. Debt securities purchased with original maturities in excess of three months are included in Marketable securities. Debt securities purchased with original maturities less than three months are included in Cash and cash equivalents.

The fair value of the equity securities of public companies is based on quoted market prices and are classified as Level 1. Investments in equity securities of public companies are included in marketable securities.

The fair value of the Company’s foreign currency forward contracts is based on foreign currency rates quoted by banks or foreign currency dealers and other public data sources.

The Company utilizes a valuation model to estimate the fair value of the contingent interest derivative on the Subordinated Convertible Debentures. The inputs to the model include stock price, risk free interest rates, volatility, and credit spread observations. As several significant inputs are not observable, the overall fair value measurement of the derivative is classified as Level 3. The volatility and credit spread assumptions used in the calculation are the most significant unobservable inputs. As of December 31, 2016, the valuation of the contingent interest derivative assumed a volatility rate of approximately 26% and a credit spread of approximately 4%. The fair value of the contingent interest derivative would not have significantly changed using a volatility rate of either 21% or 31%, or a credit spread of either 3% or 5%.

The following table summarizes the change in the fair value of the Company’s contingent interest derivative on Subordinated Convertible Debentures during the year ended December 31, 2016 and 2015:



	Year Ended December 31,
	2016			2015
	(In thousands)
Beginning balance	$	30,126		$	26,755
Unrealized (gain) loss on contingent interest derivative on Convertible Debentures	(2,402		)	14,130
Payment of contingent interest	(13,385		)	(10,759		)
Ending balance	$	14,339		$	30,126

The contingent interest derivative balance as of December 31, 2016 includes $7.7 million which was paid on February 16, 2017.

As of December 31, 2016, the Company’s other financial instruments include cash, accounts receivable, restricted cash, and accounts payable whose carrying values approximated their fair values. The fair value of the Company’s Subordinated Convertible Debentures was $2.8 billion as of December 31, 2016. The fair values of the Company’s senior notes due 2023 (the “2023 Senior Notes”) and the senior notes due 2025 (the “2025 Senior Notes”) were $764.1 million and $514.1 million, respectively, as of December 31, 2016. The fair values of these debt instruments are based on available market information from public data sources and are classified as Level 2.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Deposits to Acquire Intangible Assets (Notes)	12 Months Ended
Deposits to Acquire Intangible Assets (Notes)	Dec. 31, 2016
Deposits to Acquire Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	Deposits to Acquire Intangible Assets As of December 31, 2016, the Company has paid $145.0 million for the future assignment to the Company of contractual rights to the .web gTLD, pending resolution of objections by other applicants, regulatory review, and approval from ICANN. Upon assignment of the contractual rights, the Company will record the total investment as an indefinite-lived intangible asset.

Other Balance Sheet Items

12 Months Ended

Dec. 31, 2016

Balance Sheet Related Disclosures [Abstract]

Other Balance Sheet Items

Other Current Assets

Other current assets consist of the following:



	As of December 31,
	2016		2015
	(In thousands)
Prepaid expenses	$	14,385	$	14,823
Income taxes receivable	15,328		23,098
Other	1,671		1,935
Total other current assets	$	31,384	$	39,856

Property and Equipment, Net

The following table presents the detail of property and equipment, net:



	As of December 31,
	2016			2015
	(In thousands)
Land	$	31,141		$	31,141
Buildings and building improvements	246,237			244,760
Computer equipment and software	441,732			432,463
Capital work in progress	4,246			5,406
Office equipment and furniture	6,203			6,203
Leasehold improvements	1,350			1,350
Total cost	730,909			721,323
Less: accumulated depreciation	(464,784		)	(425,753		)
Total property and equipment, net	$	266,125		$	295,570

Goodwill

The following table presents the detail of goodwill:



	As of December 31,
	2016			2015
	(In thousands)
Goodwill, gross	$	1,537,843		$	1,537,843
Accumulated goodwill impairment	(1,485,316		)	(1,485,316		)
Total goodwill	$	52,527		$	52,527

There was no impairment of goodwill or other long-lived assets recognized in any of the periods presented.

Other Long-Term Assets

Other long-term assets consist of the following:



	As of December 31,
	2016		2015
	(In thousands)
Long-term restricted cash	9,636		11,969
Other taxes receivable	5,673		5,673
Long-term prepaid expenses and other assets	3,884		4,713
Total other long-term assets	$	19,193	$	22,355

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of the following:



	As of December 31,
	2016		2015
	(In thousands)
Accounts payable	$	19,455	$	23,298
Accrued employee compensation	61,426		51,851
Customer deposits, net	52,173		48,307
Interest Payable	27,701		27,701
Taxes payable and other tax liabilities	23,144		16,943
Other accrued liabilities	20,021		20,071
Total accounts payable and accrued liabilities	$	203,920	$	188,171

Debt And Interest Expense

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Debt And Interest Expense

Debt and Interest Expense

Senior Notes due 2025

On March 27, 2015, the Company issued $500.0 million principal amount of 5.25% senior unsecured notes due April 1, 2025. In connection with the offering the Company incurred $6.5 million of issuance costs which are being amortized to Interest expense over the 10 year term of the notes. The Company pays interest on the notes semi-annually on April 1 and October 1. The Company may redeem the 2025 Senior Notes, in whole or in part, at any time at the Company’s option at specified redemption prices.

Senior Notes due 2023

On April 16, 2013, the Company issued $750.0 million principal amount of 4.625% senior unsecured notes due May 1, 2023. In connection with the offering the Company incurred $12.0 million of issuance costs which are being amortized to Interest expense over the 10 year term of the Senior Notes. The Company pays interest on the notes semi-annually on May 1 and November 1. The Company may redeem the 2023 Senior Notes, in whole or in part, at any time at the Company’s option at specified redemption prices.

The indenture governing the 2023 Senior Notes contains covenants that limit the ability of the Company and/or its restricted subsidiaries, under certain circumstances, to, among other things: (i) pay dividends or make distributions on, or redeem or repurchase, its capital stock; (ii) make certain investments; (iii) create liens on assets; (iv) enter into sale/leaseback transactions and (v) merge or consolidate or sell all or substantially all of its assets. These covenants are subject to a number of important limitations and exceptions. The Indenture also provides for events of default, which, if any of them occurs, may permit or, in certain circumstances, require the principal, premium, if any, accrued and unpaid interest and any other monetary obligations on all the then outstanding Notes to be due and payable immediately.

2015 Credit Facility

On March 31, 2015, the Company entered into a credit agreement for a $200.0 million committed senior unsecured revolving credit facility (the “2015 Credit Facility”). The 2015 Credit Facility includes financial covenants requiring that the Company’s interest coverage ratio not be less than 3.0 to 1.0 for any period of four consecutive quarters and the Company’s leverage ratio not exceed 2.5 to 1.0. As of December 31, 2016, there were no borrowings outstanding under the facility and the Company was in compliance with the financial covenants. The 2015 Credit Facility expires on April 1, 2020 at which time any outstanding borrowings are due. Verisign may from time to time request lenders to agree on a discretionary basis to increase the commitment amount by up to an aggregate of $150.0 million.

Subordinated Convertible Debentures

In August 2007, Verisign issued $1.25 billion principal amount of 3.25% subordinated convertible debentures due August 15, 2037, in a private offering. The Subordinated Convertible Debentures are initially convertible, subject to certain conditions, into shares of the Company’s common stock at a conversion rate of 29.0968 shares of common stock per $1,000 principal amount of Subordinated Convertible Debentures, representing an initial effective conversion price of approximately $34.37 per share of common stock. The conversion rate will be subject to adjustment for certain events as outlined in the Indenture governing the Subordinated Convertible Debentures but will not be adjusted for accrued interest. As of December 31, 2016, approximately 36.4 million shares of common stock were reserved for issuance upon conversion or repurchase of the Subordinated Convertible Debentures.

On or after August 15, 2017, the Company may redeem all or part of the Subordinated Convertible Debentures for the principal amount plus any accrued and unpaid interest if the closing price of the Company’s common stock has been at least 150% of the conversion price then in effect for at least 20 trading days during any 30 consecutive trading-day period prior to the date on which the Company provides notice of redemption.

The Company’s common stock price exceeded the current conversion price threshold trigger of $44.68 during the fourth quarter of 2016. Accordingly, the Subordinated Convertible Debentures were convertible at the option of each holder during the first quarter of 2017. Further, in the event of conversion, the Company intends, and has the ability, to settle the principal amount of the Subordinated Convertible Debentures in cash, and therefore, classified the debt component of the Subordinated Convertible Debentures, net of unamortized debt issuance costs and the embedded contingent interest derivative as a current liability, as of December 31, 2016. The determination of whether or not the Subordinated Convertible Debentures are convertible, and accordingly, the classification as long-term or current, must continue to be performed quarterly. As of December 31, 2016, the if-converted value of the Subordinated Convertible Debentures exceeded its principal amount. Based on the if-converted value of the Subordinated Convertible Debentures as of December 31, 2016, the conversion spread could have required the Company to issue up to an additional 19.9 million shares of common stock.

The Company calculated the carrying value of the liability component at issuance as the present value of its cash flows using a discount rate of 8.5% (borrowing rate for similar non-convertible debt with no contingent payment options), adjusted for the fair value of the contingent interest feature, yielding an effective interest rate of 8.39%. The excess of the principal amount of the debt over the carrying value of the liability component is also referred to as the “debt discount” or “equity component” of the Subordinated Convertible Debentures. The debt discount is being amortized using the Company’s effective interest rate of 8.39% over the term of the Subordinated Convertible Debentures as a non-cash charge included in Interest expense. As of December 31, 2016, the remaining term of the Subordinated Convertible Debentures is 20.6 years. Interest is payable semiannually in arrears on August 15 and February 15.

Proceeds upon issuance of the Subordinated Convertible Debentures were as follows (in thousands):



Principal value of Subordinated Convertible Debentures	$	1,250,000
Less: Issuance costs	(25,777		)
Net proceeds, Subordinated Convertible Debentures	$	1,224,223
Amounts recognized at issuance:
Subordinated Convertible Debentures, including contingent interest derivative (net of issuance costs of $11,328)	$	546,915
Additional paid-in capital	418,996
Long-term deferred tax liabilities	267,225
Non-operating loss	(8,913		)
Net proceeds, Subordinated Convertible Debentures	$	1,224,223

The table below presents the carrying amounts of the liability and equity components:



	As of December 31,
	2016			2015
	(In thousands)
Debt discount upon issuance (net of issuance costs of $14,449)	$	686,221		$	686,221
Deferred taxes associated with the debt discount upon issuance	(267,225		)	(267,225		)
Carrying amount of equity component	$	418,996		$	418,996

Principal amount of Subordinated Convertible Debentures	$	1,250,000		$	1,250,000
Unamortized discount of liability component	(624,315		)	(635,378		)
Unamortized debt issuance costs associated with the liability component	(10,260		)	(10,422		)
Carrying amount of liability component	615,425			604,200
Contingent interest derivative	14,339			30,126
Subordinated Convertible Debentures, including contingent interest derivative	$	629,764		$	634,326

The following table presents the components of the Company’s interest expense:



	Year Ended December 31,
	2016		2015		2014
	(In thousands)
Contractual interest on Subordinated Convertible Debentures	$	40,625	$	40,625	$	40,625
Contractual interest on Senior Notes	60,938		54,667		34,688
Amortization of debt discount on the Subordinated Convertible Debentures	11,094		10,218		9,412
Credit facility and other interest expense	2,907		2,121		1,269
Total interest expense	$	115,564	$	107,631	$	85,994

Calculation Of Net Income Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Calculation Of Net Income Per Share Attributable To Verisign Stockholders

Calculation of Earnings per Share

The following table presents the computation of weighted-average shares used in the calculation of basic and diluted earnings per share:



	Year Ended December 31,
	2016	2015	2014
	(In thousands)
Weighted-average shares of common stock outstanding	107,001	114,155	126,710
Weighted-average potential shares of common stock outstanding:
Conversion spread related to Subordinated Convertible Debentures	21,074	18,047	13,384
Unvested RSUs, stock options, and ESPP	758	829	801
Shares used to compute diluted earnings per share	128,833	133,031	140,895

The calculation of diluted weighted average shares outstanding, excludes potentially dilutive securities, the effect of which would have been anti-dilutive, as well as performance based RSUs granted by the Company for which the relevant performance criteria have not been achieved. The number of potential shares excluded from the calculation was not significant in any period presented.

Stockholders' Deficit

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Deficit

Stockholders’ Deficit

Treasury Stock

Treasury stock is accounted for under the cost method. Treasury stock includes shares repurchased under Stock Repurchase Programs and shares withheld in lieu of minimum tax withholdings due upon vesting of RSUs.

On February 11, 2016, the Company’s Board of Directors (“Board”) authorized the repurchase of approximately $611.2 million of its common stock, in addition to the $388.8 million of its common stock remaining available for repurchase under the previous share repurchase program, for a total repurchase authorization of up to $1.0 billion of its common stock. The share repurchase program has no expiration date. Purchases made under the program could be effected through open market transactions, block purchases, accelerated share repurchase agreements or other negotiated transactions. As of December 31, 2016 there was approximately $429.2 million remaining available for repurchases under the share repurchase program.

Effective February 9, 2017, the Company’s Board authorized the repurchase of approximately $640.9 million of its common stock, in addition to the $359.1 million of its common stock remaining available for repurchase under the previous share repurchase program, for a total repurchase authorization of up to $1.0 billion of its common stock.

The summary of the Company’s common stock repurchases for 2016, 2015 and 2014 are as follows:



	2016				2015				2014
	Shares		Average Price		Shares		Average Price		Shares		Average Price
	(In thousands, except average price amounts)
Total repurchases under the repurchase plans	7,789		$	81.73	9,338		$	66.59	16,316		$	53.15
Total repurchases for tax withholdings	320		$	80.74	333		$	64.03	297		$	54.73
Total repurchases	8,109		$	81.70	9,671		$	66.50	16,613		$	53.18
Total costs	$	662,491			$	643,169			$	883,403

Since inception, the Company has repurchased 221.0 million shares of its common stock for an aggregate cost of $8.2 billion, which is recorded as a reduction of Additional paid-in capital.

Accumulated Other Comprehensive Loss

The following table summarizes the changes in the components of Accumulated other comprehensive loss for 2016 and 2015:



	Foreign Currency Translation Adjustments Loss			Unrealized Gain (Loss) On Investments			Total Accumulated Other Comprehensive Loss
	(In thousands)
Balance, December 31, 2014	$	(3,160	)	$	162		$	(2,998	)
Changes	(291		)	(704		)	(995		)
Balance, December 31, 2015	(3,451		)	(542		)	(3,993		)
Changes	85			455			540
Balance, December 31, 2016	$	(3,366	)	$	(87	)	$	(3,453	)

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Geographic And Customer Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Geographic And Customer Information

Geographic and Customer Information

The Company generates revenue in the U.S.; Europe, the Middle East and Africa (“EMEA”); China; and certain other countries, including Canada, Australia and Japan.

The following table presents a comparison of the Company’s geographic revenues:



	Year Ended December 31,
	2016		2015		2014
	(In thousands)
U.S	$	667,301	$	639,170	$	616,125
EMEA	207,474		193,623		182,897
China	127,298		83,456		65,525
Other	140,094		143,117		145,570
Total revenues	$	1,142,167	$	1,059,366	$	1,010,117

Revenues for our Registry Services business are generally attributed to the country of domicile and the respective regions in which the Company’s registrars are located, however, this may differ from the regions where the registrars operate or where registrants are located. Revenue growth for each region may be impacted by registrars reincorporating, relocating, or from acquisitions or changes in affiliations of resellers. Revenue growth for each region may also be impacted by registrars domiciled in one region, registering domain names in another region.

The following table presents a comparison of property and equipment, net of accumulated depreciation, by geographic region:



	As of December 31,
	2016		2015
	(In thousands)
U.S.	$	261,837	$	287,986
Other	4,288		7,584
Total property and equipment, net	$	266,125	$	295,570

Major Customers

One customer accounted for approximately 30% of revenues in 2016 and approximately 31% of revenues in 2015 and 2014. The Company does not believe that the loss of this customer would have a material adverse effect on the Company’s business because, in that event, end-users of this customer would transfer to the Company’s other existing customers.

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Employee Benefits And Stock-Based Compensation

12 Months Ended

Dec. 31, 2016

Share-based Compensation [Abstract]

Employee Benefits And Stock-Based Compensation

Employee Benefits and Stock-based Compensation

401(k) Plan

The Company maintains a defined contribution 401(k) plan (the “401(k) Plan”) for substantially all of its U.S. employees. Under the 401(k) Plan, eligible employees may contribute up to 50% of their pre-tax salary, subject to the Internal Revenue Service (“IRS”) annual contribution limits. The Company matches 50% of up to the first 6% of the employee’s annual salary contributed to the plan. The Company contributed $3.8 million in 2016, $3.7 million in 2015, and $3.4 million in 2014 under the 401(k) Plan. The Company can terminate matching contributions at its discretion at any time.

Equity Incentive Plan

The majority of Verisign’s stock-based compensation relates to RSUs. As of December 31, 2016, a total of 11.4 million shares of common stock were reserved for issuance upon the vesting of RSUs and for the future grant of equity awards.

On May 26, 2006, the stockholders of Verisign approved the 2006 Equity Incentive Plan, which was amended and restated on June 9, 2016 (the “2006 Plan”). The 2006 Plan authorizes the award of incentive stock options to employees and non-qualified stock options, restricted stock awards, RSUs, stock bonus awards, stock appreciation rights and performance shares to eligible employees, officers, directors, consultants, independent contractors and advisers. The 2006 Plan is administered by the Compensation Committee which may delegate to a committee of one or more members of the Board or Verisign’s officers the ability to grant certain awards and take certain other actions with respect to participants who are not executive officers or non-employee directors. RSUs are awards covering a specified number of shares of Verisign common stock that may be settled by issuance of those shares (which may be restricted shares). RSUs generally vest over four years. Certain performance-based RSUs, granted to the Company’s executives, vest over either three or four year terms. Additionally, the Company has granted fully vested RSUs to members of its Board in each of the last three years. The Compensation Committee may authorize grants with a different vesting schedule in the future. A total of 27.0 million common shares were authorized and reserved for issuance under the 2006 Plan.

2007 Employee Stock Purchase Plan

On August 30, 2007, the Company’s stockholders approved the 2007 Employee Stock Purchase Plan. A total of 6.0 million common shares were authorized and reserved for issuance under the ESPP. Eligible employees may purchase common stock through payroll deductions by electing to have between 2% and 25% of their compensation withheld to cover the purchase price. Each participant is granted an option to purchase common stock on the first day of each 24-month offering period and this option is automatically exercised on the last day of each six-month purchase period during the offering period. The purchase price for the common stock under the ESPP is 85% of the lesser of the fair market value of the common stock on the first day of the applicable offering period or the last day of the applicable purchase period. Offering periods begin on the first business day of February and August of each year. As of December 31, 2016, 1.2 million shares of the Company’s common stock are reserved for issuance under this plan.

Stock-based Compensation

Stock-based compensation is classified in the Consolidated Statements of Comprehensive Income in the same expense line items as cash compensation. The following table presents the classification of stock-based compensation:



	Year Ended December 31,
	2016		2015		2014
	(In thousands)
Stock-based compensation:
Cost of revenues	$	7,253	$	7,009	$	6,400
Sales and marketing	5,738		6,763		8,023
Research and development	6,739		6,488		7,018
General and administrative	30,314		25,815		22,536
Total stock-based compensation	$	50,044	$	46,075	$	43,977

The following table presents the nature of the Company’s total stock-based compensation:



	Year Ended December 31,
	2016			2015			2014
	(In thousands)
RSUs	$	37,325		$	36,664		$	32,304
Performance-based RSUs	11,512			8,078			10,232
ESPP	3,593			4,051			4,192
Capitalization (Included in Property and equipment, net)	(2,386		)	(2,718		)	(2,751		)
Total stock-based compensation expense	$	50,044		$	46,075		$	43,977

The income tax benefit recognized on stock-based compensation within Income tax expense for 2016, 2015, and 2014 was $17.7 million, $16.0 million, and $15.1 million, respectively.

RSUs Information

The following table summarizes unvested RSUs activity:



	Year Ended December 31,
	2016				2015				2014
	Shares		Weighted-Average Grant-Date Fair Value		Shares		Weighted-Average Grant-Date Fair Value		Shares		Weighted-Average Grant-Date Fair Value
	(Shares in thousands)
Unvested at beginning of period	2,110		$	54.77	2,179		$	46.36	2,442		$	38.00
Granted	760		78.58		1,075		61.74		909		55.05
Vested and settled	(873	)	49.95		(932	)	43.92		(878	)	35.99
Forfeited	(151	)	61.57		(212	)	51.47		(294	)	44.00
	1,846		$	66.30	2,110		$	54.77	2,179		$	46.36

The RSUs in the table above include certain RSUs granted to the Company’s executives that are subject to performance conditions, and in some cases, market conditions. The unvested RSUs as of December 31, 2016 include approximately 0.4 million RSUs subject to performance and/or market conditions. The number of RSUs, subject to these performance and market conditions, that ultimately vest may range from zero to a maximum of 0.8 million RSUs depending on the level of performance achieved and whether any market conditions are satisfied.

The closing price of Verisign’s stock was $76.07 on December 31, 2016. As of December 31, 2016, the aggregate market value of unvested RSUs was $140.7 million. The fair values of RSUs that vested during 2016, 2015, and 2014 were $70.5 million, $59.8 million, and $47.9 million, respectively. As of December 31, 2016, total unrecognized compensation cost related to unvested RSUs was $67.7 million which is expected to be recognized over a weighted-average period of 2.3 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Non-operating income, net

12 Months Ended

Dec. 31, 2016

Non-operating (loss) income, net [Abstract]

Non-operating Income, Net

Non-operating Income (Loss), Net

The following table presents the components of Non-operating income (loss), net:



	Year Ended December 31,
	2016		2015			2014
	(In thousands)
Unrealized gain (loss) on contingent interest derivative on Subordinated Convertible Debentures	2,402		(14,130		)	2,249
Interest income	6,191		2,128			922
Other, net	1,572		1,337			1,707
Total non-operating income (loss), net	$	10,165	$	(10,665	)	$	4,878

The unrealized gains and losses on the contingent interest derivative on the Subordinated Convertible Debentures reflects the change in value of the derivative that results primarily from the changes in the Company’s stock price. Interest income is earned principally from the Company’s surplus cash balances and marketable securities.