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REVENUE RECOGNITION
 9 Months Ended
Sep. 30, 2023
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 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,
2023202220232022
(In thousands)
Primary geographical markets:
U.S.$350,447 $451,787 $1,240,990 $1,243,907 
International200,635 182,926 747,226 362,294 
Total$551,082 $634,713 $1,988,216 $1,606,201 
Timing of revenue recognition:
Products delivered at a point in time$522,419 $614,928 $1,908,193 $1,550,942 
Products and services delivered over time28,663 19,785 80,023 55,259 
Total$551,082 $634,713 $1,988,216 $1,606,201 
Contract Balances
Receivables, and contract assets and contract liabilities from contracts with customers, are as follows:
September 30,
2023		December 31,
2022
(In thousands)
Receivables$560,286 $440,896 
Short-term contract assets (Prepaid expenses and other assets)39,518 32,130 
Long-term contract assets (Other assets)125,972 100,991 
Short-term contract liabilities (Deferred revenues, current)114,031 90,747 
Long-term contract liabilities (Deferred revenues, non-current)366,032 281,613 
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 for the nine months ended September 30, 2023.
Significant changes in the balances of contract assets (prepaid expenses and other assets) as of September 30, 2023 are as follows (in thousands):
Contract Assets
Contract Assets, beginning of period$133,121 
Amount recognized(27,564)
Increased due to shipments59,933 
Contract Assets, end of period$165,490 
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, 2023 are as follows (in thousands):
Contract Liabilities
Contract Liabilities, beginning of period$372,360 
Revenue recognized(80,023)
Increased due to billings187,726 
Contract Liabilities, end of period$480,063 
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,
2023
(In thousands)
Fiscal year:
2023 (remaining three months)$29,240 
2024112,125 
2025103,985 
202688,345 
202768,755 
Thereafter77,613 
Total$480,063