UNEARNED REVENUE

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

UNEARNED REVENUE

NOTE 12.    UNEARNED REVENUE

Changes in unearned revenue were as follows:

December 31,	2018			2017
(in thousands)
Balance at beginning of year	$	117,614		$	106,323
Deferral of unearned revenue		166,053			151,139
Recognition of unearned revenue		(156,592	)		(139,848	)
Balance at December 31,	$	127,075		$	117,614

Deferred revenue recognized for the year ended December 31, 2018 and 2017 was $156.6 million and $128.7 million, respectively.

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (“contracted not recognized revenue”), which includes both unearned revenue and revenue that will be billed and recognized in future periods. The Company has no material contracted not recognized revenue as of December 31, 2018 or December 31, 2017.

At December 31, 2018 and December 31, 2017, the Company had long-term unearned revenue of $11.1 million and $8.6 million, respectively. Unearned short-term revenue is recognized over the next 12 month period. The majority of unearned long-term revenue is recognized over a period of five years or less with immaterial amounts recognized through 2025.