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Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Disaggregation of Revenue
The following table summarizes revenue:
Year Ended December 31,
(in thousands)202120202019
Revenue:
Lease licenses$617,643 $500,105 $406,043 
Perpetual licenses328,154 280,745 293,587 
Software licenses945,797 780,850 699,630 
Maintenance896,037 840,597 760,574 
Service64,881 59,850 55,688 
Maintenance and service960,918 900,447 816,262 
Total revenue$1,906,715 $1,681,297 $1,515,892 
Direct revenue, as a percentage of total revenue76.3 %77.8 %77.1 %
Indirect revenue, as a percentage of total revenue23.7 %22.2 %22.9 %

Our software licenses revenue is recognized up front, while maintenance and service revenue is generally recognized over the term of the contract.
Deferred Revenue
Deferred revenue consists of billings made or payments received in advance of revenue recognition from customer agreements. The timing of revenue recognition may differ from the timing of billings to customers. Payment terms vary by the type and location of customer and the products or services offered. The time between invoicing and when payment is due is not significant.
The changes in deferred revenue, inclusive of both current and long-term deferred revenue, during the years ended December 31, 2021 and 2020 were as follows:
(in thousands)20212020
Beginning balance – January 1$388,810 $365,274 
Acquired deferred revenue3,831 6,872 
Deferral of revenue1,937,974 1,687,907 
Recognition of deferred revenue(1,906,715)(1,681,297)
Currency translation(11,119)10,054 
Ending balance – December 31$412,781 $388,810 

Total revenue allocated to remaining performance obligations as of December 31, 2021 will be recognized as revenue as follows:
(in thousands) 
Next 12 months$764,862 
Months 13-24253,226 
Months 25-36158,281 
Thereafter81,491 
Total revenue allocated to remaining performance obligations$1,257,860 

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes both deferred revenue and backlog. Our backlog represents installment billings for periods beyond the current quarterly billing cycle. Revenue recognized during the years ended December 31, 2021 and 2020 included amounts in deferred
revenue and backlog at the beginning of the period of $606.8 million, of which $372.1 million was in deferred revenue, and $569.8 million, of which $351.4 million was in deferred revenue, respectively.