|9 Months Ended|
Sep. 30, 2021
|Revenue from Contract with Customer [Abstract]|
Unbilled accounts receivable (“AR”) for the periods presented primarily represent the difference between revenue recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. Deferred revenue for the periods presented primarily relates to extended service contracts, installation, and training, for which the service fees are billed in advance. The associated deferred revenue is generally recognized ratably over the extended service period or when installation and training are complete.
The following table summarizes the changes in the unbilled AR and deferred revenue balances for the nine months ended September 30, 2021 (in thousands):
At September 30, 2021, the short-term portion of deferred revenue of $25.7 million and the long-term portion of $4.6 million are included in deferred revenue and other long-term liabilities, respectively, in the consolidated balance sheet. As of September 30, 2021, we expect to recognize revenue associated with deferred revenue of approximately $10.5 million in 2021, $15.9 million in 2022, $2.1 million in 2023, $1.2 million in 2024, and $0.6 million thereafter.
The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef