Revenue Recognition (Notes)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Contract Balances

The contract assets are primarily related to the Company’s fixed fee IP licensing arrangements and rights to consideration for performance obligations delivered but not billed as of December 31, 2020.

The Company’s contract balances were as follows:

	As of December 31,
(In thousands)	2020		2019
Unbilled receivables	$	367,953	$	528,069
Deferred revenue	10,461		11,947

During the years ended December 31, 2020 and December 31, 2019, the Company recognized $10.3 million and $18.3 million, respectively, of revenue that was included in the contract balances as of December 31, 2019 and December 31, 2018, respectively.

Remaining Performance Obligations

Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $17.4 million as of December 31, 2020, which the Company primarily expects to recognize over the next 2 years.