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RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Summary of Accounts Receivable and Unbilled Receivable Receivables
(in thousands)
December 31, 2021December 31, 2020
Accounts receivable$182,717 $215,827 
Unbilled receivables226,714 207,155 
Long-term unbilled receivables129,789 113,278 
$539,220 $536,260 
Summary of Unbilled Receivables
Unbilled receivables
Unbilled receivables are client-committed amounts for which revenue recognition precedes billing, and billing is solely subject to the passage of time.
Unbilled receivables by expected billing date:
(Dollars in thousands)
December 31, 2021
1 year or less$226,714 64 %
1-2 years83,988 23 %
2-5 years45,801 13 %
$356,503 100 %
Summary of Unbilled Receivables Based Upon Contract Effective Date Unbilled receivables by contract effective date:
(Dollars in thousands)
December 31, 2021
2021$182,427 51 %
2020104,416 29 %
201934,544 10 %
201816,296 5 %
2017 and prior18,820 5 %
$356,503 100 %
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)
December 31, 2021December 31, 2020
Contract assets (1)
$12,530 $15,296 
Long-term contract assets (2)
10,643 7,777 
$23,173 $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)
December 31, 2021December 31, 2020
Deferred revenue$275,844 $232,865 
Long-term deferred revenue (1)
5,655 8,991 
$281,499 $241,856 
(1) Included in other long-term liabilities.
Summary of Major Clients
Major clients
Clients that represented 10% or more of the Company’s total accounts receivable and unbilled receivables:
December 31, 2021December 31, 2020
Client A10 %*
* Client accounted for less than 10% of total accounts receivable and unbilled receivables.