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REVENUES
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Revenues are sourced from four geographic markets: Americas, EMEA, CEE and APAC. The Company presents and discusses revenues by customer location based on the location of the specific customer site that we serve, irrespective of the location of the headquarters of the customer or the location of the delivery center where the work is performed. Revenues by customer location is different from revenues by reportable segment as segments are not based on the geographic location of the customers, but instead they are based on the location of the Company’s management responsible for a particular customer or market (see Note 16 “Segment Information”). The Company assigns customers into one of five vertical industries or a group of various industries where the Company is increasing its presence, which are labeled as “Emerging Verticals”. Emerging Verticals include customers in multiple industries such as energy, utilities, manufacturing, automotive, telecommunications and several others.
Disaggregation of Revenues
The following tables show the disaggregation of the Company’s revenues by major customer location, including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 16 “Segment Information”) for the years ended December 31, 2021, 2020 and 2019:
Year Ended December 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
Americas$2,145,163 $77,351 $4,316 $2,226,830 
EMEA87,121 1,172,267 329 1,259,717 
CEE6,740 531 160,767 168,038 
APAC3,224 100,335 — 103,559 
Revenues$2,242,248 $1,350,484 $165,412 $3,758,144 

Year Ended December 31, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
Americas$1,546,093 $45,553 $3,490 $1,595,136 
EMEA45,733 834,033 76 879,842 
CEE7,817 98 106,787 114,702 
APAC2,177 67,621 — 69,798 
Revenues$1,601,820 $947,305 $110,353 $2,659,478 
Year Ended December 31, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Customer Locations
Americas$1,344,040 $45,859 $116 $1,390,015 
EMEA27,042 719,548 276 746,866 
CEE8,583 143 91,745 100,471 
APAC1,279 55,167 — 56,446 
Revenues$1,380,944 $820,717 $92,137 $2,293,798 

The following tables show the disaggregation of the Company’s revenues by industry vertical, including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 16 “Segment Information”) for the years ended December 31, 2021, 2020 and 2019:
Year Ended December 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Financial Services$361,611 $372,394 $114,365 $848,370 
Travel & Consumer359,306 354,041 27,781 741,128 
Business Information & Media389,613 275,502 1,826 666,941 
Software & Hi-Tech559,707 102,270 2,620 664,597 
Life Sciences & Healthcare340,706 49,900 703 391,309 
Emerging Verticals231,305 196,377 18,117 445,799 
Revenues$2,242,248 $1,350,484 $165,412 $3,758,144 

Year Ended December 31, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Financial Services$199,594 $278,355 $77,286 $555,235 
Travel & Consumer221,977 220,448 16,364 458,789 
Business Information & Media334,063 224,922 1,695 560,680 
Software & Hi-Tech419,895 73,288 3,630 496,813 
Life Sciences & Healthcare260,518 35,347 448 296,313 
Emerging Verticals165,773 114,945 10,930 291,648 
Revenues$1,601,820 $947,305 $110,353 $2,659,478 
Year Ended December 31, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Industry Verticals
Financial Services$184,469 $244,284 $72,119 $500,872 
Travel & Consumer198,264 229,523 11,571 439,358 
Business Information & Media262,448 157,844 631 420,923 
Software & Hi-Tech354,023 77,377 1,998 433,398 
Life Sciences & Healthcare224,925 23,444 83 248,452 
Emerging Verticals156,815 88,245 5,735 250,795 
Revenues$1,380,944 $820,717 $92,137 $2,293,798 
The Company derives revenues from a variety of customized and integrated service arrangements. Fees for these contracts may be in the form of time-and-materials or fixed-price arrangements.
The following tables show the disaggregation of the Company’s revenues by contract type, including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 16 “Segment Information”) for the years ended December 31, 2021, 2020 and 2019:
Year Ended December 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$1,981,696 $1,145,606 $82,445 $3,209,747 
Fixed-price244,249 202,436 82,711 529,396 
Licensing14,540 793 219 15,552 
Other revenues1,763 1,649 37 3,449 
Revenues$2,242,248 $1,350,484 $165,412 $3,758,144 

Year Ended December 31, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$1,440,635 $790,203 $60,166 $2,291,004 
Fixed-price151,769 151,718 48,525 352,012 
Licensing8,027 1,526 1,586 11,139 
Other revenues1,389 3,858 76 5,323 
Revenues$1,601,820 $947,305 $110,353 $2,659,478 

Year Ended December 31, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Contract Types
Time-and-material$1,247,979 $688,605 $54,069 $1,990,653 
Fixed-price127,926 128,977 37,747 294,650 
Licensing3,626 1,230 225 5,081 
Other revenues1,413 1,905 96 3,414 
Revenues$1,380,944 $820,717 $92,137 $2,293,798 
Timing of Revenue Recognition
The following tables show the timing of revenue recognition reconciled with the Company’s reportable segments (Note 16 “Segment Information”) for the years ended December 31, 2021, 2020 and 2019:
Year Ended December 31, 2021
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$2,232,308 $1,349,956 $165,301 $3,747,565 
Transferred at a point of time9,940 528 111 10,579 
Revenues$2,242,248 $1,350,484 $165,412 $3,758,144 

Year Ended December 31, 2020
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$1,595,786 $946,379 $108,826 $2,650,991 
Transferred at a point of time6,034 926 1,527 8,487 
Revenues$1,601,820 $947,305 $110,353 $2,659,478 

Year Ended December 31, 2019
Reportable Segments
North AmericaEuropeRussiaConsolidated Revenues
Timing of Revenue Recognition
Transferred over time$1,379,256 $819,913 $92,076 $2,291,245 
Transferred at a point of time1,688 804 61 2,553 
Revenues$1,380,944 $820,717 $92,137 $2,293,798 
During the years ended December 31, 2021, 2020 and 2019 the Company recognized $18.7 million, $5.0 million and $7.8 million, respectively, of revenues from performance obligations satisfied in previous periods.
The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of December 31, 2021. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts that (i) have an original expected duration of one year or less and (ii) contracts for which it recognizes revenues at the amount to which it has the right to invoice for services provided:
Less than 1 year1 Year2 Years3 YearsTotal
Contract Type
Fixed-price$8,214 $380 $— $— $8,594 
The Company applies a practical expedient and does not disclose the amount of the transaction price allocated to the remaining performance obligations nor provide an explanation of when the Company expects to recognize that amount as revenue for certain variable consideration.
Contract Balances
The following table provides information on the classification of contract assets and liabilities in the consolidated balance sheets:
 As of December 31, 2021As of December 31, 2020
Contract assets included in Trade receivables and contract assets$13,798 $7,700 
Contract liabilities included in Accrued expenses and other current liabilities$39,810 $17,383 
Contract liabilities included in Other noncurrent liabilities$84 $94 

Contract assets comprise amounts where the Company’s right to bill is contingent on something other than the passage of time. Contract assets have increased from December 31, 2020 primarily due to an increase in fixed-fee contracts resulting from revenue growth during the year and from the acquisitions completed in 2021. Contract liabilities comprise amounts collected from the Company’s customers for revenues not yet earned and such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities have increased from December 31, 2020 primarily due to an increase in customer advances at the end of the year and advance payments in excess of revenue recognized under percentage-of-completion contracts attributable to businesses acquired in 2021.
During the year ended December 31, 2021, the Company recognized $16.2 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2020. During the year ended December 31, 2020, the Company recognized $8.6 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2019.