XML 36 R24.htm IDEA: XBRL DOCUMENT v3.21.2
RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE (Tables)
 9 Months Ended
Sep. 30, 2021
Receivables [Abstract]  
Summary of receivables Receivables
(in thousands)
September 30, 2021December 31, 2020
Accounts receivable$143,445 $215,827 
Unbilled receivables239,774 207,155 
Long-term unbilled receivables132,147 113,278 
$515,366 $536,260 
Summary of unbilled receivables Unbilled receivables by expected billing date:
(Dollars in thousands)
September 30, 2021
1 year or less$239,774 64 %
1-2 years80,980 22 %
2-5 years51,167 14 %
$371,921 100 %
Summary of unbilled receivables based upon contract effective date Unbilled receivables by contract effective date:
(Dollars in thousands)
September 30, 2021
2021$168,237 45 %
2020109,904 29 %
201947,058 13 %
201822,169 6 %
2017 and prior24,553 7 %
$371,921 100 %
Schedules of concentration of risk, by risk factor
Clients accounting for 10% or more of the Company’s total receivables:
September 30, 2021December 31, 2020
Client A12 %*
* Client accounted for less than 10% of total receivables.
Summary of contract assets and deferred revenue
Contract assets
Contract assets are client-committed amounts for which revenue recognized exceeds the amount billed to the client, and billing is subject to conditions other than the passage of time, such as completing a related performance obligation.
(in thousands)
September 30, 2021December 31, 2020
Contract assets (1)
$11,495 $15,296 
Long-term contract assets (2)
8,485 7,777 
$19,980 $23,073 
(1) Included in other current assets. (2) Included in other long-term assets.
Deferred revenue
Deferred revenue consists of billings and payments received in advance of revenue recognition.
(in thousands)
September 30, 2021December 31, 2020
Deferred revenue$229,103 $232,865 
Long-term deferred revenue (1)
5,682 8,991 
$234,785 $241,856 
(1) Included in other long-term liabilities.