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RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Summary of receivables Receivables
(in thousands)
March 31, 2022December 31, 2021
Accounts receivable$171,181 $182,717 
Unbilled receivables226,052 226,714 
Long-term unbilled receivables135,975 129,789 
$533,208 $539,220 
Summary of unbilled receivables Unbilled receivables by expected billing date:
(Dollars in thousands)
March 31, 2022
1 year or less$226,052 62 %
1-2 years88,003 25 %
2-5 years47,972 13 %
$362,027 100 %
Summary of unbilled receivables based upon contract effective date Unbilled receivables by contract effective date:
(Dollars in thousands)
March 31, 2022
2022$72,143 20 %
2021163,869 45 %
202077,585 21 %
201927,163 8 %
2018 and prior21,267 6 %
$362,027 100 %
Schedules of concentration of risk, by risk factor Clients accounting for 10% or more of the Company’s total receivables:
March 31, 2022December 31, 2021
Client A
Accounts receivable4 %1 %
Unbilled receivables15 %15 %
Total receivables11 %10 %
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 the completion of a related performance obligation.
(in thousands)
March 31, 2022December 31, 2021
Contract assets (1)
$11,765 $12,530 
Long-term contract assets (2)
10,292 10,643 
$22,057 $23,173 
(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)
March 31, 2022December 31, 2021
Deferred revenue$290,873 $275,844 
Long-term deferred revenue (1)
6,612 5,655 
$297,485 $281,499 
(1) Included in other long-term liabilities.