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REVENUES
 9 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Disaggregation of Revenue
We have four revenue streams: cloud services and subscriptions, customer support, license, and professional service and other. The following tables disaggregate 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:
Three Months Ended March 31,Nine Months Ended March 31,
2021202020212020
Total Revenues by Geography:
Americas (1)
$507,892 $509,778 $1,533,400 $1,380,179 
EMEA (2)
258,010 240,529 754,966 702,964 
Asia Pacific (3)
67,029 64,372 204,222 199,981 
Total revenues$832,931 $814,679 $2,492,588 $2,283,124 
Total Revenues by Type of Performance Obligation:
Recurring revenues (4)
Cloud services and subscriptions revenue
$355,845 $339,463 $1,047,285 $825,068 
Customer support revenue
335,915 322,865 999,806 950,671 
Total recurring revenues
$691,760 $662,328 $2,047,091 $1,775,739 
License revenue (perpetual, term and subscriptions) 76,299 81,055 252,170 297,048 
Professional service and other revenue64,872 71,296 193,327 210,337 
Total revenues$832,931 $814,679 $2,492,588 $2,283,124 
Total Revenues by Timing of Revenue Recognition:
Point in time $76,299 $81,055 $252,170 $297,048 
Over time (including professional service and other revenue)756,632 733,624 2,240,418 1,986,076 
Total revenues$832,931 $814,679 $2,492,588 $2,283,124 
(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, net of allowance for credit losses, 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 March 31, 2021As of June 30, 2020
Short-term contract assets $26,276 $29,570 
Long-term contract assets
$18,594 $15,427 
Short-term deferred revenues$873,581 $812,218 
Long-term deferred revenues$99,679 $94,382 

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 nine months ended March 31, 2021, we reclassified $28.7 million of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the three and nine months ended March 31, 2021 and 2020, respectively, 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 nine months ended March 31, 2021 that was included in the deferred revenue balances at June 30, 2020 was $737 million (nine months ended March 31, 2020—$591 million, that was included in the deferred revenue balances at June 30, 2019).
Incremental Costs of Obtaining a Contract with a Customer
Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would have not incurred if the contract had not been obtained, such as sales commissions. The following table summarizes the changes in total capitalized costs to obtain a contract, since June 30, 2020:
Capitalized costs to obtain a contract as of June 30, 2020$61,163 
New capitalized costs incurred20,586 
Amortization of capitalized costs(16,227)
Adjustments on account of foreign exchange1,268 
Capitalized costs to obtain a contract as of March 31, 2021$66,790 

During the three and nine months ended March 31, 2021 and 2020, respectively, there was no significant impairment loss recognized related to capitalized costs to obtain a contract.
Transaction Price Allocated to the Remaining Performance Obligations
As of March 31, 2021, approximately $1.3 billion of revenue is expected to be recognized from remaining performance obligations on existing contracts. We expect to recognize approximately 49% 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.