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REVENUE RECOGNITION
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregated Revenue
The Company has one major 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
September 30,		Nine Months Ended
September 30,
2022202120222021
(In thousands)
Primary geographical markets:
U.S.$451,787 $267,553 $1,243,907 $769,911 
International182,926 83,966 362,294 199,419 
Total$634,713 $351,519 $1,606,201 $969,330 
Timing of revenue recognition:
Products delivered at a point in time$614,928 $336,359 $1,550,942 $927,330 
Products and services delivered over time19,785 15,160 55,259 42,000 
Total$634,713 $351,519 $1,606,201 $969,330 
Contract Balances
Receivables, and contract assets and contract liabilities from contracts with customers, are as follows:
September 30,
2022		December 31,
2021
(In thousands)
Receivables$367,647 $333,626 
Short-term contract assets (Prepaid expenses and other assets)28,921 23,508 
Long-term contract assets (Other assets)87,627 69,583 
Short-term contract liabilities (Deferred revenues, current)79,609 62,670 
Long-term contract liabilities (Deferred revenues, non-current)239,971 187,186 
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 nine months ended September 30, 2022.
Significant changes in the balances of contract assets (prepaid expenses and other assets) as of September 30, 2022 are as follows (in thousands):
Contract Assets
Contract Assets, beginning of period$93,091 
Amount recognized(20,464)
Increase43,921 
Contract Assets, end of period$116,548 
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) as of September 30, 2022 are as follows (in thousands):
Contract Liabilities
Contract Liabilities, beginning of period$249,856 
Revenue recognized(55,259)
Increase due to billings124,983 
Contract Liabilities, end of period$319,580 
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,
2022
(In thousands)
Fiscal year:
2022 (remaining three months)$21,227 
202376,861 
202470,403 
202563,310 
202647,765 
Thereafter40,014 
Total$319,580