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Revenue (Tables)
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregated revenues The following table presents the Company’s revenues by transaction type based on revenue recognition pattern for the periods presented:
Three Months Ended September 30,
20222021
Subscription revenues$408.3 $246.5 
Re-occurring revenues102.7 110.4 
Transactional and other revenues125.0 85.3 
Total revenues, gross636.0 442.2 
Deferred revenues adjustment(1)
(0.3)(0.1)
Total revenues, net$635.7 $442.1 
(1) Reflects the deferred revenues adjustment made as a result of purchase accounting prior to the adoption of ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In the fourth quarter of 2021, Clarivate adopted ASU No. 2021-08 which allows an acquirer to account for the related revenue contracts in accordance with ASC 606 Revenue from Contracts with Customers, as if it had originated the contracts. This guidance was applied retrospectively to all business combinations for which the acquisition date occurs during or subsequent to 2021.
Nine Months Ended September 30,
2022
2021(1)
Subscription revenues$1,220.7 $728.9 
Re-occurring revenues329.2 333.6 
Transactional and other revenues435.5 258.2 
Total revenues, gross1,985.4 1,320.7 
Deferred revenues adjustment(2)
(0.9)(4.5)
Total revenues, net$1,984.5 $1,316.2 
(1) Certain prior period reported amounts have been reclassified to conform to current period presentation.
(2) Reflects the deferred revenues adjustment made as a result of purchase accounting prior to the adoption of ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In the fourth quarter of 2021, Clarivate adopted ASU No. 2021-08 which allows an acquirer to account for the related revenue contracts in accordance with ASC 606 Revenue from Contracts with Customers, as if it had originated the contracts. This guidance was applied retrospectively to all business combinations for which the acquisition date occurs during or subsequent to 2021.
The following table summarizes revenue by reportable segment for the periods indicated:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Academia and Government$307.1 $102.3 $951.6 $303.3 
Life Sciences and Healthcare103.6 98.5 327.7 291.1 
Intellectual Property225.0 241.3 705.2 721.8 
Total Revenues, net$635.7 $442.1 $1,984.5 $1,316.2 
Schedule of contract balances
Accounts receivable, netCurrent portion of deferred revenuesNon-current portion of deferred revenues
Opening (January 1, 2022)$906.4 $1,030.4 $54.2 
Closing (September 30, 2022)748.6 857.8 37.7 
Decrease / (increase)$157.8 $172.6 $16.5 
Opening (January 1, 2021)$737.7 $707.3 $41.4 
Closing (September 30, 2021)610.8 579.9 44.9 
Decrease / (increase)$126.9 $127.4 $(3.5)