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REVENUES
 12 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenue
We have four revenue streams: license, cloud services and subscriptions, customer support, and professional service and other. The following table disaggregates our revenue by significant geographic area, based on the location of our end customer, and by type of performance obligation and timing of revenue recognition for the periods indicated:
 
Year Ended June 30,
 
2020
 
2019
Total Revenues by Geography:
 
 
 
Americas (1)
$
1,903,650

 
$
1,683,282

EMEA (2)
942,281

 
920,422

Asia Pacific (3)
263,805

 
265,051

Total revenues
$
3,109,736

 
$
2,868,755


 
Year Ended June 30,
 
2020
 
2019
Total Revenues by Type of Performance Obligation:
 
 
 
Recurring revenues (4)
 
 
 
Cloud services and subscriptions revenue
$
1,157,686

 
$
907,812

Customer support revenue
1,275,586

 
1,247,915

Total recurring revenues
$
2,433,272

 
$
2,155,727

License revenue (perpetual, term and subscriptions)
402,851

 
428,092

Professional service and other revenue
273,613

 
284,936

Total revenues
$
3,109,736

 
$
2,868,755

 
 
 
 
Total Revenues by Timing of Revenue Recognition:
 
 
 
Point in time
$
402,851

 
$
428,092

Over time (including professional service and other revenue)
2,706,885

 
2,440,663

Total revenues
$
3,109,736

 
$
2,868,755

(1) Americas consists of countries in North, Central and South America.
(2) EMEA primarily consists of countries in Europe, the Middle East and Africa.
(3) Asia Pacific primarily consists of Japan, Australia, China, Korea, Philippines, Singapore and New Zealand.
(4) Recurring revenue is defined as the sum of cloud services and subscriptions revenue and customer support revenue.

Contract Balances
A contract asset will be recorded if we have recognized revenue but do not have an unconditional right to the related consideration from the customer. For example, this will be the case if implementation services offered in a cloud arrangement are identified as a separate performance obligation and are provided to a customer prior to us being able to bill the customer. In addition, a contract asset may arise in relation to subscription licenses if the license revenue that is recognized upfront exceeds the amount that we are able to invoice the customer at that time. Contract assets are reclassified to accounts receivable when the rights become unconditional.
The balance for our contract assets and contract liabilities (i.e. deferred revenues) for the periods indicated below were as follows:
 
As of June 30, 2020
 
As of June 30, 2019
Short-term contract assets
$
29,570

 
$
20,956

Long-term contract assets
$
15,427

 
$
15,386

Short-term deferred revenue
$
812,218

 
$
641,656

Long-term deferred revenue
$
94,382

 
$
46,974



The difference in the opening and closing balances of our contract assets and deferred revenues primarily results from the timing difference between our performance and the customer’s payments. We fulfill our obligations under a contract with a customer by transferring products and services in exchange for consideration from the customer. During the year ended June 30, 2020, we reclassified $33.0 million (year ended June 30, 2019—$19.2 million) of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the year ended June 30, 2020 and 2019, there was no significant impairment loss recognized related to contract assets.
We recognize deferred revenue when we have received consideration or an amount of consideration is due from the customer for future obligations to transfer products or services. Our deferred revenues primarily relate to customer support agreements which have been paid for by customers prior to the performance of those services. The amount of revenue that was recognized during the year ended June 30, 2020 that was included in the deferred revenue balances at June 30, 2019 was $631 million (year ended June 30, 2019—$617 million).
Incremental Costs of Obtaining a Contract with a Customer
The following table summarizes the changes in total capitalized costs since July 1, 2018:
Capitalized costs to obtain a contract as of July 1, 2018
$
35,151

New capitalized costs incurred
24,347

Amortization of capitalized costs
(11,003
)
Adjustments on account of foreign exchange
(211
)
Capitalized costs to obtain a contract as of June 30, 2019
48,284

New capitalized costs incurred
29,427

Amortization of capitalized costs
(16,919
)
Adjustments on account of foreign exchange
371

Capitalized costs to obtain a contract as of June 30, 2020
$
61,163



During the year ended June 30, 2020 and 2019, there was no significant impairment loss recognized related to capitalized costs to obtain a contract. Refer to note 2 "Accounting Policies and Recent Accounting Pronouncements" for additional information on incremental costs of obtaining a contract.
Transaction Price Allocated to the Remaining Performance Obligations
As of June 30, 2020, approximately $1.4 billion of revenue is expected to be recognized from remaining performance obligations on existing contracts. We expect to recognize approximately 46% of this amount over the next 12 months and the
remaining balance thereafter. We apply the practical expedient and do not disclose performance obligations that have original expected durations of one year or less.
Refer to note 2 "Accounting Policies and Recent Accounting Pronouncements" for additional information on our revenue policy.