DEFERRED REVENUES

3 Months Ended

Mar. 31, 2023

DEFERRED REVENUES

DEFERRED REVENUES

(8) DEFERRED REVENUES

The Company records deferred revenues when cash payments are received or due in advance of the Company's performance. The decrease in the deferred revenue balance for the three months ended March 31, 2023 is the result of $49.1 million of cash payments received in the current year for which the Company has not yet satisfied the performance obligations, offset by $51.0 million of revenues recognized.