OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars, except share data)

December 31, 2017

June 30, 2017

ASSETS

(unaudited)

Cash and cash equivalents

$

476,014

$

443,357

Accounts receivable trade, net of allowance for doubtful accounts of $8,503 as of December 31, 2017 and $6,319 as of June 30, 2017

511,969

445,812

Income taxes recoverable

23,861

32,683

Prepaid expenses and other current assets

101,063

81,625

Total current assets

1,112,907

1,003,477

Property and equipment

260,896

227,418

Goodwill

3,578,976

3,416,749

Acquired intangible assets

1,468,378

1,472,542

Deferred tax assets

1,158,836

1,215,712

Other assets

96,612

93,763

Deferred charges

39,204

42,344

Long-term income taxes recoverable

23,412

8,557

Total assets

$

7,739,221

$

7,480,562

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable and accrued liabilities

$

318,008

$

342,120

Current portion of long-term debt

382,760

182,760

Deferred revenues

557,873

570,328

Income taxes payable

30,084

31,835

Total current liabilities

1,288,725

1,127,043

Long-term liabilities:

Accrued liabilities

47,379

50,338

Deferred credits

4,005

5,283

Pension liability

62,213

58,627

Long-term debt

2,385,709

2,387,057

Deferred revenues

68,934

61,678

Long-term income taxes payable

176,222

162,493

Deferred tax liabilities

77,182

94,724

Total long-term liabilities

2,821,644

2,820,200

Shareholders' equity:

Share capital and additional paid-in capital

265,625,515 and 264,059,567 Common Shares issued and outstanding at December 31, 2017 and June 30, 2017, respectively; authorized Common Shares: unlimited

1,650,217

1,613,454

Accumulated other comprehensive income

47,521

48,800

Retained earnings

1,949,503

1,897,624

Treasury stock, at cost (714,169 shares at December 31, 2017 and 1,101,612 at June 30, 2017, respectively)

(19,250)

(27,520)

Total OpenText shareholders' equity

3,627,991

3,532,358

Non-controlling interests

861

961

Total shareholders' equity

3,628,852

3,533,319

Total liabilities and shareholders' equity

$

7,739,221

$

7,480,562