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RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE (Tables)
 6 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
Summary of receivables Receivables
(in thousands)
June 30, 2022December 31, 2021
Accounts receivable$171,556 $182,717 
Unbilled receivables201,130 226,714 
Long-term unbilled receivables115,901 129,789 
$488,587 $539,220 
Summary of unbilled receivables Unbilled receivables by expected billing date:
(Dollars in thousands)
June 30, 2022
1 year or less$201,130 63 %
1-2 years78,813 25 %
2-5 years37,088 12 %
$317,031 100 %
Summary of unbilled receivables based upon contract effective date Unbilled receivables by contract effective date:
(Dollars in thousands)
June 30, 2022
2022$81,887 26 %
2021142,578 45 %
202056,283 18 %
201919,928 6 %
2018 and prior16,355 5 %
$317,031 100 %
Schedules of concentration of risk, by risk factor
Clients accounting for 10% or more of the Company’s total receivables:
June 30, 2022December 31, 2021
Client A
Accounts receivable*1 %
Unbilled receivables*15 %
Total receivables*10 %
* Client accounted for less than 10% of receivables
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)
June 30, 2022December 31, 2021
Contract assets (1)
$12,149 $12,530 
Long-term contract assets (2)
12,983 10,643 
$25,132 $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)
June 30, 2022December 31, 2021
Deferred revenue$269,121 $275,844 
Long-term deferred revenue (1)
5,417 5,655 
$274,538 $281,499 
(1) Included in other long-term liabilities.