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REVENUE RECOGNITION
 6 Months Ended
Jun. 30, 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
June 30,		Six Months Ended
June 30,
2021202020212020
(In thousands)
Primary geographical markets:
U.S.$254,576 $100,791 $502,358 $280,391 
International61,481 24,747 115,453 50,692 
Total$316,057 $125,538 $617,811 $331,083 
Timing of revenue recognition:
Products delivered at a point in time$302,100 $114,299 $590,971 $308,978 
Products and services delivered over time13,957 11,239 26,840 22,105 
Total$316,057 $125,538 $617,811 $331,083 
Contract Balances
Receivables, and contract assets and contract liabilities from contracts with customers are as follows:
June 30,
2021		December 31,
2020
(In thousands)
Receivables$281,154 $182,165 
Short-term contract assets (Prepaid expenses and other assets)21,135 17,879 
Long-term contract assets (Other assets)63,752 51,986 
Short-term contract liabilities (Deferred revenues)55,084 47,665 
Long-term contract liabilities (Deferred revenues)165,645 125,473 
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 and six months ended June 30, 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(10,255)
Increase25,277 
Contract Assets, end of period$84,887 
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(33,544)
Increase due to billings81,135 
Contract Liabilities, end of period$220,729 
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:
June 30,
2021
(In thousands)
Fiscal year:
2021 (remaining six months)$29,069 
202251,375 
202345,388 
202440,157 
202533,174 
Thereafter21,566 
Total$220,729