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REVENUE AND RECEIVABLES
 12 Months Ended
Dec. 31, 2021
REVENUE AND RECEIVABLES  
REVENUE AND RECEIVABLES

3. REVENUE AND RECEIVABLES

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Contract Assets and Liabilities

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Contract assets and liabilities consisted of the following (amounts in thousands):

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December 31, 2021

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December 31, 2020

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$ Change

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% Change

Contract asset – current

$

4,805

​

$

2,478

​

$

2,327

​

94

%

Contract asset – noncurrent

​

900

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​

910

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(10)

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(1)

%

Contract liability – current

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(25,332)

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​

(18,544)

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(6,788)

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(37)

%

Contract liability – noncurrent

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(81,391)

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(2,193)

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​

(79,198)

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(3,611)

%

Net contract liability

$

(101,018)

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$

(17,349)

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$

(83,669)

​

(482)

%

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The contract asset-current is included in prepayments and other current assets, the contract asset-noncurrent is included in other assets, the contract liability-current is included in advance payments and deposits, and the contract liability-noncurrent is included in other liabilities on the Company’s balance sheet. The increase in the Company’s net contract liability was due to the Alaska Acquisition, the timing of customer prepayments and contract billings, and the FirstNet Transaction. During the year ended December 31, 2021, the Company recognized revenue of $18.0 million related to its December 31, 2020 contract liability and amortized $2.4 million of the December 31, 2020 contract asset into revenue. During the year ended December 31, 2020, the Company recognized revenue of $16.9 million related to its December 31, 2019 contract liability and amortized $2.3 million of the December 31, 2019 contract asset into revenue. The Company did not recognize any revenue in the years ended December 31, 2021 and 2020 related to performance obligations that were satisfied or partially satisfied in previous periods.

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Contract Acquisition Costs

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The December 31, 2021 balance sheet includes current contract acquisition costs of $2.2 million in prepayments and other current assets and long term contract acquisition costs of $2.3 million in other assets. The December 31, 2020 balance sheet includes current contract acquisition costs of $1.9 million in prepayments and other current assets and long

term contract acquisition costs of $1.2 million in other assets. During the years ended December 31, 2021 and 2020 the Company amortized $2.8 million and $2.1 million, respectively, of contract acquisition cost.

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Remaining Performance Obligations

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Remaining performance obligations represent the transaction price allocated to unsatisfied performance obligations of certain multiyear mobility contracts, which include a promotional discount, and the Company’s construction and service contracts. The transaction price allocated to unsatisfied performance obligations was $369 million and $299 million at December 31, 2021 and December 31, 2020, respectively. The Company expects to satisfy approximately 52% of the remaining performance obligations and recognize the transaction price within 24 months and the remainder thereafter.

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The Company has certain mobility and carrier services contracts where transaction price is allocated to remaining performance obligations. However, the Company omits these contracts from the disclosure by applying the right to invoice, one year or less, any wholly unsatisfied performance obligation practical expedients.

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Disaggregation

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The Company's revenue is presented on a disaggregated basis in Note 14 based on an evaluation of disclosures outside the financial statements, information regularly reviewed by the chief operating decision maker for evaluating the financial performance of operating segments and other information that is used for performance evaluation and resource allocations. This includes revenue from Communication Services revenue, Construction revenue and Other revenue. Communication Services is further disaggregated into Mobility, Fixed, Carrier Services, and Other revenue. Construction revenue represents revenue generated within our US Telecom segment for the construction of network cell sites related to the FirstNet Agreement. Other revenue is further disaggregated into Renewable Energy and Managed Services. Each of the revenue streams is presented for the Company’s International Telecom and US Telecom segments. This disaggregation of revenue depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Receivables

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At December 31, 2021, the Company had gross accounts receivable of $131.4 million and an allowance for credit losses of $13.9 million. The receivable under the FirstNet Agreement totaled $43.8 million, of which $4.1 million was current and $39.7 million was long-term. At December 31, 2020, the Company had gross accounts receivable of $67.1 million and an allowance for credit losses of $12.1 million. The receivable under the FirstNet Agreement totaled $10.8 million of which $1.2 million was current and $9.6 million was long-term. The Company monitors receivables through the use of historical operating data adjusted for expectation of future performance as appropriate. Activity in the allowance for credit losses is below:

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Year ended December 31, 2021

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Year ended December 31, 2020

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Balance at beginning of period

 

$

12,121

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$

12,724

Current period provision for expected losses

 

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4,850

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​

5,010

Write-offs charged against the allowance

 

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(3,517)

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(6,351)

Recoveries collected

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431

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​

738

Balance at end of period

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$

13,885

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$

12,121

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