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REVENUES
 6 Months Ended
Dec. 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, by type of performance obligation and timing of revenue recognition for the periods indicated:
Three Months Ended December 31,Six Months Ended December 31,
2021202020212020
Total Revenues by Geography:
Americas (1)
$535,306 $516,852 $1,054,998 $1,025,508 
EMEA (2)
267,222 271,021 511,819 496,956 
Asia Pacific (3)
74,271 67,771 142,290 137,193 
Total revenues$876,799 $855,644 $1,709,107 $1,659,657 
Total Revenues by Type of Performance Obligation:
Recurring revenues (4)
Cloud services and subscriptions revenue
$364,886 $350,454 $721,475 $691,440 
Customer support revenue
334,875 334,492 670,112 663,891 
Total recurring revenues
$699,761 $684,946 $1,391,587 $1,355,331 
License revenue (perpetual, term and subscriptions) 109,493 107,348 183,022 175,871 
Professional service and other revenue67,545 63,350 134,498 128,455 
Total revenues$876,799 $855,644 $1,709,107 $1,659,657 
Total Revenues by Timing of Revenue Recognition:
Point in time $109,493 $107,348 $183,022 $175,871 
Over time (including professional service and other revenue)767,306 748,296 1,526,085 1,483,786 
Total revenues$876,799 $855,644 $1,709,107 $1,659,657 
(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, India 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 December 31, 2021As of June 30, 2021
Short-term contract assets $22,336 $25,344 
Long-term contract assets
$22,920 $19,222 
Short-term deferred revenues$848,977 $852,629 
Long-term deferred revenues$90,669 $98,989 
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 six months ended
December 31, 2021, we reclassified $18.3 million of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the three and six months ended December 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 six months ended December 31, 2021 that was included in the deferred revenue balances at June 30, 2021 was $630 million (six months ended December 31, 2020—$626 million).
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 not have 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, 2021:
Capitalized costs to obtain a contract as of June 30, 2021$72,900 
New capitalized costs incurred15,947 
Amortization of capitalized costs(12,472)
Impact of foreign exchange rate changes(1,517)
Capitalized costs to obtain a contract as of December 31, 2021$74,858 
During the three and six months ended December 31, 2021 and 2020, respectively, there was no significant impairment loss recognized related to capitalized costs to obtain a contract. Refer to note 9 "Prepaid Expenses and Other Assets" for additional information on incremental costs of obtaining a contract.
Transaction Price Allocated to the Remaining Performance Obligations
As of December 31, 2021, approximately $1.5 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 substantially over the next three years thereafter. We apply the practical expedient and do not disclose performance obligations that have original expected durations of one year or less.