DEFERRED REVENUES

12 Months Ended

Jan. 31, 2015

6. DEFERRED REVENUES

Deferred revenues consisted of the following:

	January 31,
	2015		2014
	(in thousands)
Deferred maintenance revenue	$	86,381	$	87,288
Deferred subscription revenue		11,563		7,590
Deferred services revenue		2,813		5,261
Deferred license revenue		1,890		3,967
Deferred other revenue		74		54
Deferred revenues, current		102,721		104,160
Deferred revenues, non-current (in Other liabilities)		2,361		606
Total deferred revenues	$	105,082	$	104,766

Deferred maintenance and subscription revenues represent customer payments made in advance for support and subscription contracts. Support and subscription are billed in advance with corresponding revenues being recognized ratably over the support and subscription periods. Support is typically billed annually while subscription is typically billed quarterly. Deferred license revenues result from undelivered products or specified enhancements, customer specific acceptance provisions and software license transactions that cannot be segmented from undelivered consulting or other services. Deferred services revenues represent both prepayments for our professional services where revenues for these services are generally recognized as the Company completes the performance obligations for the prepaid services; and services already provided but deferred due to software revenue recognition rules.

During fiscal 2015, the foreign currency impact to deferred maintenance revenue was significant. On a constant currency basis, converting at the prior year exchange rates, fiscal 2015 deferred maintenance revenue would have been $5.8 million higher.