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REVENUE RECOGNITION
 3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregated Revenue
The Company has one business activity, which is the design, manufacture and sale of solutions for the solar photovoltaic (“PV”) industry. Disaggregated revenue by primary geographical market and timing of revenue recognition for the Company’s single product line are as follows:
Three Months Ended
March 31,
20212020
(In thousands)
Primary geographical markets:
U.S.$247,782 $179,600 
International53,972 25,945 
Total$301,754 $205,545 
Timing of revenue recognition:
Products delivered at a point in time$288,871 $194,679 
Products and services delivered over time12,883 10,866 
Total$301,754 $205,545 
Contract Balances
Receivables, and contract assets and contract liabilities from contracts with customers are as follows:
March 31,
2021		December 31,
2020
(In thousands)
Receivables$236,090 $182,165 
Short-term contract assets (Prepaid expenses and other assets)19,338 17,879 
Long-term contract assets (Other assets)57,400 51,986 
Short-term contract liabilities (Deferred revenues)49,118 47,665 
Long-term contract liabilities (Deferred revenues)142,985 125,473 
The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include deferred product costs and commissions associated with the deferred revenue and will be amortized along with the associated revenue. The Company had no asset impairment charges related to contract assets in the three months ended March 31, 2021.
Significant changes in the balances of contract assets (prepaid expenses and other assets) during the period are as follows (in thousands):
Contract Assets
Contract Assets, beginning of period$69,865 
Amount recognized(4,955)
Increase11,828 
Contract Assets, end of period$76,738 
Contract liabilities are recorded as deferred revenue on the accompanying condensed consolidated balance sheets and include payments received in advance of performance obligations under the contract and are realized when the associated revenue is recognized under the contract.
Significant changes in the balances of contract liabilities (deferred revenues) during the period are as follows (in thousands):
Contract Liabilities
Contract Liabilities, beginning of period$173,138 
Revenue recognized(16,235)
Increase due to billings35,200 
Contract Liabilities, end of period$192,103 
Remaining Performance Obligations
Estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period are as follows:
March 31,
2021
(In thousands)
Fiscal year:
2021 (remaining nine months)$38,116 
202244,067 
202338,220 
202432,994 
202526,021 
Thereafter12,685 
Total$192,103