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REVENUE RECOGNITION (Tables) | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Summary of Revenue Disaggregation | 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,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Primary geographical markets: |  |  |  |  |  |  |
U.S. | $ | 417,582 |  |  | $ | 422,628 |  |  | $ | 890,543 |  |  | $ | 792,120 |
International | 293,536 |  |  | 107,568 |  |  | 546,591 |  |  | 179,368 |
Total | $ | 711,118 |  |  | $ | 530,196 |  |  | $ | 1,437,134 |  |  | $ | 971,488 |
Timing of revenue recognition: |  |  |  |  |  |  |
Products delivered at a point in time | $ | 684,122 |  |  | $ | 511,865 |  |  | $ | 1,385,774 |  |  | $ | 936,014 |
Products and services delivered over time | 26,996 |  |  | 18,331 |  |  | 51,360 |  |  | 35,474 |
Total | $ | 711,118 |  |  | $ | 530,196 |  |  | $ | 1,437,134 |  |  | $ | 971,488 |
Summary of Contract Assets and Contract Liabilities, and Changes in Balances from Contracts with Customers | Receivables, and contract assets and contract liabilities from contracts with customers, are as follows:
| June 30, 2023 |  | December 31, 2022
| (In thousands)
Receivables | $ | 520,306 |  |  | $ | 440,896 |
Short-term contract assets (Prepaid expenses and other assets) | 38,073 |  |  | 32,130 |
Long-term contract assets (Other assets) | 122,982 |  |  | 100,991 |
Short-term contract liabilities (Deferred revenues, current) | 109,176 |  |  | 90,747 |
Long-term contract liabilities (Deferred revenues, non-current) | 354,296 |  |  | 281,613 |
Significant changes in the balances of contract assets (prepaid expenses and other assets) as of June 30, 2023 are as follows (in thousands):
Contract Assets |
Contract Assets, beginning of period | $ | 133,121 |
Amount recognized | (17,658) |
Increased due to shipments | 45,592 |
Contract Assets, end of period | $ | 161,055 |
Significant changes in the balances of contract liabilities (deferred revenues) as of June 30, 2023 are as follows (in thousands):
Contract Liabilities |
Contract Liabilities, beginning of period | $ | 372,360 |
Revenue recognized | (51,360) |
Increased due to billings | 142,472 |
Contract Liabilities, end of period | $ | 463,472 |
Summary of Estimated Revenue Expected to be Recognized in Future Periods | 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, 2023
| (In thousands)
Fiscal year: |
2023 (remaining six months) | $ | 55,492 |
2024 | 105,360 |
2025 | 97,787 |
2026 | 81,815 |
2027 | 62,174 |
Thereafter | 60,844 |
Total | $ | 463,472 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 + Details
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