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REVENUE RECOGNITION
 9 Months Ended
Sep. 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 (the “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
September 30,		Nine Months Ended
September 30,
2021202020212020
(In thousands)
Primary geographical markets:
U.S.$267,553 $139,924 $769,911 $420,315 
International83,966 38,579 199,419 89,271 
Total$351,519 $178,503 $969,330 $509,586 
Timing of revenue recognition:
Products delivered at a point in time$336,359 $166,729 $927,330 $475,707 
Products and services delivered over time15,160 11,774 42,000 33,879 
Total$351,519 $178,503 $969,330 $509,586 
Contract Balances
Receivables, and contract assets and contract liabilities from contracts with customers are as follows:
September 30,
2021		December 31,
2020
(In thousands)
Receivables$273,012 $182,165 
Short-term contract assets (Prepaid expenses and other assets)22,461 17,879 
Long-term contract assets (Other assets)67,380 51,986 
Short-term contract liabilities (Deferred revenues, current)59,232 47,665 
Long-term contract liabilities (Deferred revenues, non-current)177,249 125,473 
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 nine months ended September 30, 2021.
Significant changes in the balances of contract assets (prepaid expenses and other assets) during the nine months ended September 30, 2021 are as follows (in thousands):
Contract Assets
Contract Assets, beginning of period$69,865 
Amount recognized(15,957)
Increase35,933 
Contract Assets, end of period$89,841 
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 nine months ended September 30, 2021 are as follows (in thousands):
Contract Liabilities
Contract Liabilities, beginning of period$173,138 
Revenue recognized(48,704)
Increase due to billings112,047 
Contract Liabilities, end of period$236,481 
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:
September 30,
2021
(In thousands)
Fiscal year:
2021 (remaining three months)$16,241 
202256,803 
202350,566 
202445,344 
202538,377 
Thereafter29,150 
Total$236,481