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Contract Balances, Performance Obligations and Contract Costs
 12 Months Ended
Jan. 31, 2022
Notes to Financial Statements  
Contract Balances, Performance Obligations and Contract Costs

Note 19 – Contract Balances, Performance Obligations and Contract Costs

Deferred Revenue

The following table presents the changes in the deferred revenue balance as follows:

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Deferred Revenue

Balance at January 31, 2020

 

42,063

Recognition of previously deferred revenue

 

(37,843)

Deferral of revenue

 

46,386

Increases from business combinations, net

 

39

Effect of movements in foreign exchange

 

646

Balance at January 31, 2021

 

51,291

Recognition of previously deferred revenue

 

(38,065)

Deferral of revenue

 

45,234

Increases from business combinations, net

 

729

Effect of movements in foreign exchange

 

(489)

Balance at January 31, 2022

 

58,700

Current

 

56,780

Long-term

 

1,920

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Performance Obligations

As of January 31, 2022, approximately $366.8 million of revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. We expect to recognize revenue on approximately 80% of these remaining performance obligations over the next 24 months with the balance recognized thereafter.

Contract Assets

The following table presents the changes in the contract assets balance as follows:

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Contract Assets

Balance at January 31, 2020

 

1,107

Transfers to trade receivables from contract assets

 

(563)

Increases as a result of delivered term licenses recognized as revenue during the period, net of amounts transferred to trade receivables

 

783

Effect of movements in foreign exchange

 

26

Balance at January 31, 2021

 

1,353

Transfers to trade receivables from contract assets

 

(730)

Increases as a result of delivered term licenses recognized as revenue during the period, net of amounts transferred to trade receivables

 

815

Effect of movements in foreign exchange

 

5

Balance at January 31, 2022

 

1,443

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Contract Costs

Capitalized contract costs net of accumulated amortization is $16.6 million at January 31, 2022 ($12.9 million at January 31, 2021). Capitalized contract costs are amortized consistent with the pattern of transfer to the customer for the goods and services to which the asset relates. The total contract cost amortization included in sales and marketing expenses was approximately $4.7 million, $3.3 million and $2.5 million for the years ended January 31, 2022, 2021 and 2020, respectively.