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Receivables, Contract Assets, Contract Liabilities and Performance Obligations (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Summary of Information about Receivables and Contract Liabilities
The following table provides information about receivables, contract assets and contract liabilities balances as of December 31, 2024 and 2023 (in thousands):
December 31,
20242023
Current receivables, which are included in “Accounts receivable, net”
$4,172,104 $3,568,290 
Contract assets, net
81,980 120,518 
Long-term accounts receivable, net845,943 412,666 
Long-term contract assets, net$86,953 $132,780 
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”
$109,615 $107,217 
Summary of Changes in Contract Liabilities from Contract with Customers
Significant changes in the gross contract assets balances during the years ended December 31, 2024 and 2023 are as follows (in thousands):
Contract
Assets
Balances at December 31, 2022$7,909 
Balances at Contract assets acquired through business combination246,666 
Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional(33,638)
Contract assets recognized, net of reclassification to receivables51,350 
Balances at December 31, 2023$272,287 
Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional
(85,619)
Contract assets recognized, net of reclassification to receivables18,182 
Measurement period adjustments to acquired contract assets(26,412)
Balances at December 31, 2024$178,438 
Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of December 31, 2024, contract assets, net of allowances, were $168,933,000.
Gross contract assets by our internal risk ratings as of December 31, 2024 are summarized as follows (in thousands):
Contract
Assets
Low risk
$40,116 
Moderate risk
78,248 
High risk
60,074 
Total contract assets
$178,438 
Significant changes in the liabilities balances during the years ended December 31, 2024 and 2023 are as follows (in thousands):
Contract
Liabilities
Balances at December 31, 2022$102,057 
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied(67,351)
Cash received in advance and not recognized as revenue72,511 
Balances at December 31, 2023$107,217 
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied(75,857)
Cash received in advance and not recognized as revenue78,255 
Balances at December 31, 2024$109,615 
Summary of Estimated Net Sales Related to Performance Obligation
The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2024 that are expected to be recognized in the future (in thousands):
Services
2025$122,937 
202647,385 
202728,313 
2028 and thereafter35,259 
Total remaining performance obligations$233,894