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RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE
 12 Months Ended
Dec. 31, 2019
Receivables [Abstract]  
RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE
4. RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE
Receivables
(in thousands)
December 31, 2019
 
December 31, 2018
Accounts receivable
$
199,720

 
$
180,872

Unbilled receivables
180,219

 
172,656

Long-term unbilled receivables
121,736

 
151,237

 
$
501,675

 
$
504,765


Unbilled receivables are client committed amounts for which revenue recognition precedes billing, and billing is solely subject to the passage of time.
Unbilled receivables are expected to be billed in the future as follows:
(Dollars in thousands)
December 31, 2019
1 year or less
$
180,219

60
%
1-2 years
91,132

30
%
2-5 years
30,604

10
%
 
$
301,955

100
%

Contract assets and deferred revenue
(in thousands)
December 31, 2019
 
December 31, 2018
Contract assets (1)
$
5,558

 
$
3,711

Long-term contract assets (2)
5,420

 
2,543

 
$
10,978

 
$
6,254

Deferred revenue
$
190,080

 
$
185,145

Long-term deferred revenue (3)
5,407

 
5,344

 
$
195,487

 
$
190,489

(1) Included in other current assets. (2) Included in other long-term assets. (3) Included in other long-term liabilities.
Contract assets are client committed amounts for which revenue recognized exceeds the amount billed to the client and the right to payment is subject to conditions other than the passage of time, such as the completion of a related performance obligation. Deferred revenue consists of billings and payments received in advance of revenue recognition. Contract assets and deferred revenue are netted at the contract level for each reporting period.
The change in deferred revenue in the year ended December 31, 2019 was primarily due to new billings in advance of revenue recognition, partially offset by revenue recognized during the period that was included in deferred revenue at December 31, 2018.
Major clients
No client represented 10% or more of the Company’s total accounts receivable and unbilled receivables as of December 31, 2019 or December 31, 2018.