XML 37 R26.htm IDEA: XBRL DOCUMENT v3.24.1.u1

REVENUE RECOGNITION (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31,
															2024						2023
															(In thousands)
Primary geographical markets:
U.S.															$	149,974					$	472,961
International															113,365						253,055
Total															$	263,339					$	726,016
Timing of revenue recognition:
Products delivered at a point in time															$	233,145					$	701,652
Products and services delivered over time															30,194						24,364
Total															$	263,339					$	726,016

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:

			March 31, 2024						December 31, 2023
			(In thousands)
Receivables			$	364,364					$	445,959
Short-term contract assets (Prepaid expenses and other assets)			40,915						40,241
Long-term contract assets (Other assets)			121,633						124,190
Short-term contract liabilities (Deferred revenues, current)			119,821						118,300
Long-term contract liabilities (Deferred revenues, non-current)			359,300						369,172

Significant changes in the balances of contract assets (prepaid expenses and other assets) as of March 31, 2024 are as follows (in thousands):

Contract Assets
Contract Assets, beginning of period			$	164,431
Amount recognized			(10,524)
Increased due to shipments			8,641
Contract Assets, end of period			$	162,548

Significant changes in the balances of contract liabilities (deferred revenues) as of March 31, 2024 are as follows (in thousands):

Contract Liabilities
Contract Liabilities, beginning of period			$	487,472
Revenue recognized			(30,194)
Increased due to billings			21,843
Contract Liabilities, end of period			$	479,121

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:

			March 31, 2024
			(In thousands)
Fiscal year:
2024 (remaining nine months)			$	90,521
2025			113,226
2026			96,983
2027			77,353
2028			56,091
Thereafter			44,947
Total			$	479,121

X

- 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

Name:	us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration