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REVENUES (Tables) - Rocket Lab USA, Inc. | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Dec. 31, 2020
Reconciliation of Disaggregation of Revenue | The following tables provide information about disaggregated revenue and a reconciliation of the disaggregated revenue during the six months ended June 30:
|  | Six-Months Ended June 30, 2021 |
Revenues by recognition model |  | 2021 |  |  | 2020 |
Point-in-time. |  | $ | 26,815 |  |  | $ | 7,534 |
Over-time |  |  | 2,657 |  |  |  | 1,219 |
Total revenue by recognition model |  |  | 29,472 |  |  |  | 8,753 |
| The following tables provide information about disaggregated revenue and a reconciliation of the disaggregated revenue during the years ended December 31:
|  | 2020 |  |  |  |
|  | Launch Services |  |  | Space Systems |  |  | Total |
Revenues by recognition model |  |  |  |  |  |  |  |  |  |  |  |
Point-in-time |  | $ | 31,993 |  |  | $ | 1,910 |  |  | $ | 33,903 |
Over-time |  |  | 1,092 |  |  |  | 165 |  |  |  | 1,257 |
Total revenue by recognition model |  | $ | 33,085 |  |  | $ | 2,075 |  |  | $ | 35,160 |
|  | 2019 |  |  |  |
|  | Launch Services |  |  | Space Systems |  |  | Total |
Revenues by recognition model |  |  |  |  |  |  |  |  |  |  |  |
Point-in-time |  | $ | 26,361 |  |  | $ | — |  |  | $ | 26,361 |
Over-time |  |  | 22,038 |  |  |  | — |  |  |  | 22,038 |
Total revenue by recognition model |  | $ | 48,399 |  |  | $ | — |  |  | $ | 48,399 |
Balances Related to Enforceable Contracts | The following table presents the balances related to enforceable contracts as of June 30, 2021 and December 31, 2020:
|  | June 30, 2021 |  |  | December 31, 2020 |
Contract balances |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 22,355 |  |  | $ | 2,730 |
Contract assets |  |  | 843 |  |  |  | 2,045 |
Contract liabilities |  |  | (31,138 | ) |  |  | (26,132 | )
| The following table presents the balances related to enforceable contracts as of December 31:
|  | 2020 |  |  | 2019 |
Contract balances |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 2,730 |  |  | $ | 1,185 |
Contract assets |  |  | 2,045 |  |  |  | 7,064 |
Contract liabilities |  |  | (26,132 | ) |  |  | (10,211 | )
Changes in Contract Liabilities | Changes in contract liabilities were as follows:
Contract liabilities, at December 31, 2020 |  | $ | 26,132 |
Customer advances received |  |  | 17,116 |
Recognition of unearned revenue |  |  | (12,110 | )
Contract liabilities, at June 30, 2021 |  | $ | 31,138 |
| Changes in contract liabilities were as follows:
|  | 2020 |  |  | 2019 |
Contract liabilities, beginning of year |  | $ | 10,211 |  |  | $ | 11,590 |
Customer advances received |  |  | 24,694 |  |  |  | 8,672 |
Recognition of unearned revenue |  |  | (8,773 | ) |  |  | (10,051 | )
Contract liabilities, end of year |  | $ | 26,132 |  |  | $ | 10,211 |

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