12. REVENUE

Revenue streams



(in thousands)	2018		2017		2016
Perpetual license	$	109,863	$	132,883	$	145,053
Term license	178,256		206,411		152,231
Revenue recognized at a point in time	288,119		339,294		297,284
Maintenance	263,875		242,320		218,635
Cloud	82,627		51,097		40,647
Consulting	256,960		255,756		205,663
Revenue recognized over time	603,462		549,173		464,945
Total revenue	$	891,581	$	888,467	$	762,229



(in thousands)	2018		2017		2016
Term license	$	178,256	$	206,411	$	152,231
Cloud	82,627		51,097		40,647
Maintenance	263,875		242,320		218,635
Subscription ⁽¹⁾	524,758		499,828		411,513
Perpetual license	109,863		132,883		145,053
Consulting	256,960		255,756		205,663
Total revenue	$	891,581	$	888,467	$	762,229

⁽¹⁾Subscription revenue reflects client arrangements (term license, cloud, and maintenance) which are subject to renewal.

There were no material changes in the Company’s estimate of variable fees during 2018, 2017, or 2016. During 2018, 2017, and 2016, revenue recognized related to performance obligations delivered in previous periods was not material.

Geographic revenue



(Dollars in thousands)	2018				2017				2016
U.S.	$	469,987	52	%	$	505,415	56	%	$	447,673	59	%
Other Americas	53,239		6	%	41,467		5	%	41,607		5	%
U.K.	95,628		11	%	97,000		11	%	98,624		13	%
Other EMEA ⁽¹⁾	147,248		17	%	138,752		16	%	97,113		13	%
Asia-Pacific	125,479		14	%	105,833		12	%	77,212		10	%
Total revenue	$	891,581	100	%	$	888,467	100	%	$	762,229	100	%

⁽¹⁾ Includes Europe (excluding the U.K.), the Middle East, and Africa.

Remaining performance obligations

Revenue for the remaining performance obligations on existing contracts is expected to be recognized as follows:



	December 31, 2018
(Dollars in thousands)	Perpetual license		Term license		Maintenance		Cloud		Consulting		Total
1 year or less	$	14,665	$	72,378	$	192,274	$	103,354	$	17,235	$	399,906	63	%
1-2 years	2,343		10,355		10,436		80,214		2,810		106,158		17	%
2-3 years	1,661		1,414		3,644		61,906		940		69,565		11	%
Greater than 3 years	—		233		1,560		53,343		208		55,344		9	%
	$	18,669	$	84,380	$	207,914	$	298,817	$	21,193	$	630,973	100	%

Major clients

Clients accounting for 10% or more of the Company’s total revenue were:



(Dollars in thousands)	2018		2017			2016
Total revenue	$	891,581	$	888,467		$	762,229
Client A	*		10		%	*

*Client accounted for less than 10% of total revenue.