XML 39 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

REVENUE RECOGNITION | 9 Months Ended
--- | ---
Sep. 30, 2021
Revenue From Contract With Customer [Abstract] |
REVENUE RECOGNITION | 18. REVENUE RECOGNITION: The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (Topic 606). The standard establishes the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue and cash flows from a contract with a customer. For both three-month periods ended September 30, 2021 and 2020, the Company recorded 97% of its revenue from OLED related sales, and 3% from the providing of services through Adesis, respectively. For the nine months ended September 30, 2021 and 2020, the Company recorded 97% and 96% of its revenue from OLED related sales, respectively, and 3% and 4% from the providing of services through Adesis, respectively. Contract Balances The following table provides information about assets and liabilities associated with our contracts from customers (in thousands):
|  | As of September 30, 2021 |
Accounts receivable |  | $ | 96,235 |
Short-term unbilled receivables |  |  | 27,491 |
Long-term unbilled receivables |  |  | — |
Short-term deferred revenue |  |  | 123,475 |
Long-term deferred revenue |  |  | 43,458 |
Short-term and long-term unbilled receivables are classified as other current assets and other assets, respectively, on the Consolidated Balance Sheets. The deferred revenue balance at September 30, 2021 will be recognized as materials are shipped to customers over the remaining contract periods. As of September 30, 2021, the Company had $11.8 million of backlog associated with committed purchase orders from its customers for phosphorescent emitter material. These orders are anticipated to be fulfilled within the next 90 days. Significant changes in the unbilled receivables and deferred liabilities balances for the nine months ended September 30, 2021 and 2020, are as follows (in thousands):
|  | Nine Months Ended September 30, 2021 |
|  | Unbilled Receivables |  |  | Deferred Revenue |
Balance at December 31, 2020 |  | $ | 10,429 |  |  | $ | (162,301 | )
Revenue recognized that was previously included in deferred revenue, net |  |  | — |  |  |  | 145,535 |
Increases due to cash received |  |  | — |  |  |  | (160,021 | )
Cumulative catch-up adjustment arising from changes in estimates of transaction price, net |  |  | — |  |  |  | 9,854 |
Unbilled receivables recorded, net |  |  | 24,209 |  |  |  |
Transferred to receivables from unbilled receivables |  |  | (7,147 | ) |  |  | — |
Net change |  |  | 17,062 |  |  |  | (4,632 | )
Balance at September 30, 2021 |  | $ | 27,491 |  |  | $ | (166,933 | )
|  | Nine Months Ended September 30, 2020 |
|  | Unbilled Receivables |  |  | Deferred Revenue |
Balance at December 31, 2019 |  | $ | 1,362 |  |  | $ | (144,862 | )
Revenue recognized that was previously included in deferred revenue, net |  |  | — |  |  |  | 97,556 |
Increases due to cash received |  |  | — |  |  |  | (144,200 | )
Cumulative catch-up adjustment arising from changes in estimates of transaction price, net |  |  | — |  |  |  | 1,458 |
Unbilled receivables recorded, net |  |  | 13,494 |  |  |  | — |
Net change |  |  | 13,494 |  |  |  | (45,186 | )
Balance at September 30, 2020 |  | $ | 14,856 |  |  | $ | (190,048 | )
Unbilled receivables increased by $17.1 million during the nine months ended September 30, 2021 primarily due to a contractual amendment with an existing customer that revised the payment terms of royalty consideration in which the minimum royalty payment amount due is known prior to a fiscal period end, but ancillary supporting billing information is delayed, necessitating postponement of the issuance of the invoice until such ancillary information has been confirmed. As such, payments due the Company are recorded as an unbilled receivable as opposed to accounts receivable until the final customer invoice can be generated. There was no impact on the ASC 606 revenue recognition process which requires periodic updating of estimated total contract consideration which is then allocated based on the total material sales anticipated over the life of the individual contracts. Cumulative catch-up adjustment arising from changes in estimates of transaction price, net increased $9.9 million during the nine months ended September 30, 2021 as compared to $1.5 million during the nine months ended September 30, 2020. The increase in the cumulative catch-up adjustment arising from changes in estimates of transaction price, net was primarily due to a reduction in the forecast of emitters to be procured over the contract life by one of the Company's customers that resulted from a change in their near-term production needs, as well as improved forecasted royalty consideration resulting from higher levels of current and anticipated customer sales of OLED products.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration