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RECEIVABLES, CONTRACT ASSETS, AND DEFERRED REVENUE (Tables) | 3 Months Ended
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Mar. 31, 2024
Receivables [Abstract] |
Schedule of Receivables | Receivables
(in thousands) | March 31, 2024 |  | December 31, 2023
Accounts receivable, net | $ | 191,987 |  |  | $ | 300,173 |
Unbilled receivables, net | 170,458 |  |  | 237,379 |
Long-term unbilled receivables, net | 72,814 |  |  | 85,402 |
| $ | 435,259 |  |  | $ | 622,954 |
Schedule of Unbilled Receivables | Unbilled receivables by expected collection date:
(Dollars in thousands) | March 31, 2024
1 year or less | $ | 170,458 |  | 70 | %
1-2 years | 54,111 |  | 22 | %
2-5 years | 18,703 |  | 8 | %
| $ | 243,272 |  | 100 | %
Schedule of Unbilled Receivables by Contract Effective Date | Unbilled receivables by contract effective date:
(Dollars in thousands) | March 31, 2024
2024 | $ | 19,018 |  | 8 | %
2023 | 144,525 |  | 59 | %
2022 | 38,025 |  | 16 | %
2021 | 35,988 |  | 15 | %
2020 and prior | 5,716 |  | 2 | %
| $ | 243,272 |  | 100 | %
Schedule of Major Clients | Major clients Clients that represented 10% or more of the Company’s total accounts receivable and unbilled receivables:
| March 31, 2024 |  | December 31, 2023
Client A |  |  |
Accounts receivable | 10 | % |  | *
Unbilled receivables | 12 | % |  | *
Total receivables | 11 | % |  | *
* Client accounted for less than 10% of receivables.
Schedule of Contract Assets and Deferred Revenue | Contract assets Contract assets are client-committed amounts for which revenue recognized exceeds the amount billed to the client, and billing is subject to conditions other than the passage of time, such as the completion of a related performance obligation.
(in thousands) | March 31, 2024 |  | December 31, 2023
Contract assets (1) | $ | 10,853 |  |  | $ | 16,238 |
Long-term contract assets (2) | 20,909 |  |  | 20,635 |
| $ | 31,762 |  |  | $ | 36,873 |
(1) Included in other current assets. (2) Included in other long-term assets. Deferred revenue Deferred revenue consists of billings and payments received in advance of revenue recognition.
(in thousands) | March 31, 2024 |  | December 31, 2023
Deferred revenue | $ | 382,765 |  |  | $ | 377,845 |
Long-term deferred revenue (1) | 1,784 |  |  | 2,478 |
| $ | 384,549 |  |  | $ | 380,323 |
(1) Included in other long-term liabilities.

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