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RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of Receivables
Receivables
(in thousands)
March 31, 2024December 31, 2023
Accounts receivable, net$191,987 $300,173 
Unbilled receivables, net170,458 237,379 
Long-term unbilled receivables, net
72,814 85,402 
$435,259 $622,954 
Schedule of Unbilled Receivables
Unbilled receivables by expected collection date:
(Dollars in thousands)
March 31, 2024
1 year or less$170,458 70 %
1-2 years54,111 22 %
2-5 years18,703 8 %
$243,272 100 %
Schedule of Unbilled Receivables by Contract Effective Date
Unbilled receivables by contract effective date:
(Dollars in thousands)
March 31, 2024
2024$19,018 8 %
2023144,525 59 %
202238,025 16 %
202135,988 15 %
2020 and prior5,716 2 %
$243,272 100 %
Schedule of Major Clients
Major clients
Clients that represented 10% or more of the Company’s total accounts receivable and unbilled receivables:
March 31, 2024December 31, 2023
Client A
Accounts receivable10 %*
Unbilled receivables12 %*
Total receivables11 %*
* Client accounted for less than 10% of receivables.
Schedule 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, 2024December 31, 2023
Contract assets (1)
$10,853 $16,238 
Long-term contract assets (2)
20,909 20,635 
$31,762 $36,873 
(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, 2024December 31, 2023
Deferred revenue$382,765 $377,845 
Long-term deferred revenue (1)
1,784 2,478 
$384,549 $380,323 
(1) Included in other long-term liabilities.