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Deferred Revenue and Performance Obligations | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Deferred Revenue and Performance Obligations | Disaggregation of Revenue The tables below show disaggregation of revenue into categories that reflect how economic factors affect the nature, amount, timing, and uncertainty of revenues and cash flows. Timing of Revenue Recognition Timing of revenue recognition by revenue category during the period is as follows:
For the three months ended September 30, 2024 |  | Products and services transferred at a point in time |  | Products and services transferred over time |  | Total
Revenues |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |
SaaS |  | $ | — |  |  | $ | 166,624 |  |  | $ | 166,624 |
Transaction-based fees |  | — |  |  | 180,546 |  |  | 180,546 |
Maintenance |  | — |  |  | 115,587 |  |  | 115,587 |
Professional services |  | — |  |  | 64,462 |  |  | 64,462 |
Software licenses and royalties |  | 5,346 |  |  | 842 |  |  | 6,188 |
Hardware and other |  | 9,930 |  |  | — |  |  | 9,930 |
Total |  | $ | 15,276 |  |  | $ | 528,061 |  |  | $ | 543,337 |
For the three months ended September 30, 2023 |  | Products and services transferred at a point in time |  | Products and services transferred over time |  | Total
Revenues |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |
SaaS |  | $ | — |  |  | $ | 138,509 |  |  | $ | 138,509 |
Transaction-based fees |  | — |  |  | 156,681 |  |  | 156,681 |
Maintenance |  | — |  |  | 117,484 |  |  | 117,484 |
Professional services |  | — |  |  | 61,126 |  |  | 61,126 |
Software licenses and royalties |  | 9,946 |  |  | 608 |  |  | 10,554 |
Hardware and other |  | 10,330 |  |  | — |  |  | 10,330 |
Total |  | $ | 20,276 |  |  | $ | 474,408 |  |  | $ | 494,684 |
For the nine months ended September 30, 2024 |  | Products and services transferred at a point in time |  | Products and services transferred over time |  | Total
Revenues |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |
SaaS |  | $ | — |  |  | $ | 471,386 |  |  | $ | 471,386 |
Transaction-based fees |  | — |  |  | 522,709 |  |  | 522,709 |
Maintenance |  | — |  |  | 348,114 |  |  | 348,114 |
Professional services |  | — |  |  | 201,196 |  |  | 201,196 |
Software licenses and royalties |  | 17,997 |  |  | 2,254 |  |  | 20,251 |
Hardware and other |  | 33,016 |  |  | — |  |  | 33,016 |
Total |  | $ | 51,013 |  |  | $ | 1,545,659 |  |  | $ | 1,596,672 |
For the nine months ended September 30, 2023 |  | Products and services transferred at a point in time |  | Products and services transferred over time |  | Total
Revenues |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |
SaaS |  | $ | — |  |  | $ | 387,022 |  |  | $ | 387,022 |
Transaction-based fees |  | — |  |  | 486,422 |  |  | 486,422 |
Maintenance |  | — |  |  | 349,154 |  |  | 349,154 |
Professional services |  | — |  |  | 188,475 |  |  | 188,475 |
Software licenses and royalties |  | 28,020 |  |  | 2,443 |  |  | 30,463 |
Hardware and other |  | 29,281 |  |  | — |  |  | 29,281 |
Total |  | $ | 57,301 |  |  | $ | 1,413,516 |  |  | $ | 1,470,817 |
Recurring Revenues The majority of our revenues are comprised of revenues from subscriptions and maintenance, which we consider to be recurring revenues. Subscriptions revenues primarily consist of revenues derived from our SaaS arrangements and transaction-based fees. These revenues are considered recurring because revenues from these sources are expected to re-occur in similar annual amounts for the term of our relationship with the client. Transaction-based fees are generally the result of multi-year contracts with our clients that result in fees generated by payment transactions and digital government services and are collected on a recurring basis during the contract term. The contract terms for subscription arrangements range from one to 10 years but are typically contracted for initial periods of generally one to three years. Nearly all of our on-premises software clients contract with us for maintenance and support. Maintenance and support are generally provided under auto-renewing annual contracts or multi-year contracts. We consider all other revenue categories to be non-recurring revenues. Recurring revenues and non-recurring revenues recognized during the period are as follows:
For the three months ended September 30, 2024 |  | Enterprise Software |  | Platform Technologies |  | Corporate |  | Totals
Recurring revenues |  | $ | 315,352 |  |  | $ | 147,405 |  |  | $ | — |  |  | $ | 462,757 |
Non-recurring revenues |  | 68,396 |  |  | 12,184 |  |  | — |  |  | 80,580 |
Intercompany |  | 6,983 |  |  | 4,765 |  |  | (11,748) |  |  | — |
Total revenues |  | $ | 390,731 |  |  | $ | 164,354 |  |  | $ | (11,748) |  |  | $ | 543,337 |
For the three months ended September 30, 2023 |  | Enterprise Software |  | Platform Technologies |  | Corporate |  | Totals
Recurring revenues |  | $ | 277,497 |  |  | $ | 135,177 |  |  | $ | — |  |  | $ | 412,674 |
Non-recurring revenues |  | 70,315 |  |  | 11,736 |  |  | (41) |  |  | 82,010 |
Intercompany |  | 5,943 |  |  | — |  |  | (5,943) |  |  | — |
Total revenues |  | $ | 353,755 |  |  | $ | 146,913 |  |  | $ | (5,984) |  |  | $ | 494,684 |
For the nine months ended September 30, 2024 |  | Enterprise Software |  | Platform Technologies |  | Corporate |  | Totals
Recurring revenues |  | $ | 907,502 |  |  | $ | 434,707 |  |  | $ | — |  |  | $ | 1,342,209 |
Non-recurring revenues |  | 212,083 |  |  | 35,467 |  |  | 6,913 |  |  | 254,463 |
Intercompany |  | 19,665 |  |  | 5,229 |  |  | (24,894) |  |  | — |
Total revenues |  | $ | 1,139,250 |  |  | $ | 475,403 |  |  | $ | (17,981) |  |  | $ | 1,596,672 |
For the nine months ended September 30, 2023 |  | Enterprise Software |  | Platform Technologies |  | Corporate |  | Totals
Recurring revenues |  | $ | 800,498 |  |  | $ | 422,100 |  |  | $ | — |  |  | $ | 1,222,598 |
Non-recurring revenues |  | 206,197 |  |  | 34,692 |  |  | 7,330 |  |  | 248,219 |
Intercompany |  | 17,878 |  |  | — |  |  | (17,878) |  |  | — |
Total revenues |  | $ | 1,024,573 |  |  | $ | 456,792 |  |  | $ | (10,548) |  |  | $ | 1,470,817 |
Deferred Revenue and Performance Obligations Total deferred revenue, including long-term, by segment is as follows:
|  | September 30, 2024 |  | December 31, 2023
Enterprise Software |  | $ | 641,616 |  |  | $ | 589,295 |
Platform Technologies |  | 38,478 |  |  | 39,597 |
Corporate |  | 2,328 |  |  | 4,313 |
Totals |  | $ | 682,422 |  |  | $ | 633,205 |
Changes in total deferred revenue, including long-term, were as follows:
|  | Nine months ended September 30, 2024
Balance as of December 31, 2023 |  | $ | 633,205 |
Deferral of revenue |  | 1,110,313 |
Recognition of deferred revenue |  | (1,061,096) |
Balance as of September 30, 2024 |  | $ | 682,422 |
Transaction Price Allocated to the Remaining Performance Obligations The aggregate amount of transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized (“backlog”), which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Backlog as of September 30, 2024, was $2.13 billion, of which we expect to recognize approximately 45% as revenue over the next 12 months and the remainder thereafter. Deferred Commissions Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized commensurate with the recognition of associated revenue over a period of benefit that we have determined to be generally three to seven years. Deferred commissions were $53.1 million and $49.2 million as of September 30, 2024, and December 31, 2023, respectively. Amortization expense was $4.8 million and $14.5 million for the three and nine months ended September 30, 2024, respectively, and $5.0 million and $13.6 million for the three and nine months ended September 30, 2023, respectively. There were no indicators of impairment in relation to the costs capitalized for the periods presented. Deferred commissions have been included with prepaid expenses for the current portion and non-current other assets for the long-term portion in the accompanying condensed consolidated balance sheets. Amortization expense related to deferred commissions is included in sales and marketing expense in the accompanying condensed consolidated statements of income.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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