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REVENUES
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenues
The following tables present the disaggregation of the Company’s revenues by customer location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2022
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
Americas$659,776 $25,960 $1,057 $686,793 
EMEA25,098 396,753 99 421,950 
CEE2,054 458 30,777 33,289 
APAC783 28,799 — 29,582 
        Revenues$687,711 $451,970 $31,933 $1,171,614 


Three Months Ended March 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
Americas$454,767 $14,663 $891 $470,321 
EMEA17,755 241,554 63 259,372 
CEE1,856 14 28,264 30,134 
APAC475 20,473 — 20,948 
        Revenues$474,853 $276,704 $29,218 $780,775 
The following tables present the disaggregation of the Company’s revenues by industry vertical, including a reconciliation of the disaggregated revenues with the reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2022
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Travel & Consumer$122,247 $136,788 $6,284 $265,319 
Financial Services120,335 117,330 22,398 260,063 
Business Information & Media110,946 82,901 456 194,303 
Software & Hi-Tech156,282 32,454 747 189,483 
Life Sciences & Healthcare111,371 12,282 150 123,803 
Emerging Verticals66,530 70,215 1,898 138,643 
        Revenues$687,711 $451,970 $31,933 $1,171,614 


Three Months Ended March 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Travel & Consumer$69,429 $64,624 $4,958 $139,011 
Financial Services69,740 78,040 21,078 168,858 
Business Information & Media87,205 60,157 387 147,749 
Software & Hi-Tech125,586 20,973 505 147,064 
Life Sciences & Healthcare75,589 15,351 175 91,115 
Emerging Verticals47,304 37,559 2,115 86,978 
        Revenues$474,853 $276,704 $29,218 $780,775 


The following tables present the disaggregation of the Company’s revenues by contract type including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2022
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$626,807 $377,655 $18,691 $1,023,153 
Fixed-price56,765 73,608 13,190 143,563 
Licensing3,635 145 52 3,832 
Other revenues
504 562 — 1,066 
        Revenues$687,711 $451,970 $31,933 $1,171,614 
Three Months Ended March 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$417,887 $232,691 $14,427 $665,005 
Fixed-price53,015 43,566 14,701 111,282 
Licensing3,535 54 81 3,670 
Other revenues
416 393 9 818 
        Revenues$474,853 $276,704 $29,218 $780,775 


Timing of Revenue Recognition
The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 14 “Segment Information”) for the periods indicated:
Three Months Ended March 31, 2022
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$685,109 $451,848 $31,891 $1,168,848 
Transferred at a point of time2,602 122 42 2,766 
        Revenues$687,711 $451,970 $31,933 $1,171,614 

Three Months Ended March 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$472,374 $276,731 $29,190 $778,295 
Transferred at a point of time2,479 (27)28 2,480 
        Revenues$474,853 $276,704 $29,218 $780,775 

During the three months ended March 31, 2022, the Company recognized $6.0 million of revenues from performance obligations satisfied in previous periods compared to $15.2 million during the three months ended March 31, 2021.
The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of March 31, 2022. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts (i) that have an original expected duration of one year or less and (ii) for which it recognizes revenues at the amount to which it has the right to invoice for services provided.
Less than 1 year1 Year2 Years3 YearsTotal
Contract Type
Fixed-price$8,827 $3,406 $2,050 $1,537 $15,820 
The Company applies a practical expedient and does not disclose the amount of the transaction price allocated to the remaining performance obligations nor provide an explanation of when the Company expects to recognize that amount as revenue for certain variable consideration.
Contract Balances
The following table provides information on the classification of contract assets and liabilities in the condensed consolidated balance sheets:
 As of
March 31,
2022		As of
December 31,
2021
Contract assets included in Trade receivables and contract assets, net$17,525 $13,798 
Contract liabilities included in Accrued expenses and other current liabilities$37,321 $39,810 
Contract liabilities included in Other noncurrent liabilities$116 $84 
Contract assets have increased since December 31, 2021 primarily due to contracts where the Company’s right to bill is contingent upon achievement of contractual milestones. Contract liabilities comprise amounts collected from the Company’s customers for revenues not yet earned and such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities have decreased since December 31, 2021 due to services performed for customers during the first three months of 2022.
During the three months ended March 31, 2022, the Company recognized $26.3 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2021. During the three months ended March 31, 2021, the Company recognized $11.0 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2020.