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Revenue
3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregated Revenues
We disaggregate our revenues by segment (see Note 16 - Segment Information) and by transaction type based on revenue recognition pattern as follows:
Subscription-based revenues are recurring revenues that are earned under annual, evergreen or multi-year contracts pursuant to which we license the right to use our products to our customers or provide maintenance services over a contractual term. Revenues from the sale of subscription data, maintenance services, and analytics solutions are recognized ratably over the contractual period.
Re-occurring revenues are earned under contracts for specific deliverables that are typically quoted on a product, data set or project basis and often derived from repeat customers. These contracts include either evergreen clauses, in which at least six month advance notice is required prior to cancellation, or the contract is for multiple years. Deliverables are usually received by the customer instantly or in a short period of time, at which time the revenues are recognized. The most significant component of our re-occurring revenues is our 'renewal' business within CPA Global.
Transactional and other revenues. Transactional and other revenues are earned under contracts for specific deliverables that are typically quoted on a product, data set or project basis and often derived from repeat customers, including customers that also generate subscription-based revenues. Transactional and other revenues may involve sales to the same customer on multiple occasions but with different products or services comprising the order. Other revenues relate to professional services including implementation for software and software as a service ("SaaS") subscriptions. These contracts vary in length from several months to years for multi-year projects.
Revenue is recognized over time utilizing a reasonable measure of progress depicting the satisfaction of the related performance obligation. Other revenues also includes one-time perpetual archive license revenues.
The following table presents the Company’s revenues by transaction type based on revenue recognition pattern for the periods presented:
Three Months Ended March 31,
20232022
Subscription revenues$393.2 $403.8 
Re-occurring revenues107.7 114.5 
Transactional and other revenues128.2 143.7 
Deferred revenues adjustment— 0.2 
Revenues, net$629.1 $662.2 
Contract Balances
Balances, as of:Accounts receivable, netCurrent
deferred revenues
Non-current
deferred revenues
December 31, 2022$872.1 $947.5 $38.5 
March 31, 2023838.6 1,040.1 38.0 
Increase (decrease)$(33.5)$92.6 $(0.5)
December 31, 2021$906.4 $1,030.4 $54.2 
March 31, 2022859.8 1,080.6 54.7 
Increase (decrease)$(46.6)$50.2 $0.5 
The Company recognized revenue of $457.8 and $354.0 during the three months ended March 31, 2023 and 2022, respectively, attributable to deferred revenues recorded at the beginning of each such period. Those amounts primarily consisted of subscription revenues recognized ratably over the contractual term during the respective reporting periods.
Transaction Price Allocated to Remaining Performance Obligations
Revenue allocated to remaining performance obligations represents the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. Our most significant remaining performance obligations relate to contracts in which we license the right to use our products to our customers or provide maintenance services over the remaining contractual term, a majority of which are contracts with a duration of one year or less. As of March 31, 2023, approximately 90% of the aggregate transaction price allocated to remaining performance obligations are expected to be satisfied within one year.