v3.20.2

REVENUE | 6 Months Ended
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Jun. 30, 2020
Revenues [Abstract] |
REVENUE | REVENUE Contract Balances Refer to the table below for information about receivables, contract assets and contract liabilities from contracts with customers. Accounts receivable balances in the table below exclude other receivables that are not generated from contracts with customers. These amounts are $0.9 million and $5.1 million as of June 30, 2020 and December 31, 2019, respectively.
Description |  | June 30, 2020 |  | December 31, 2019
|  | (amounts in thousands) |  |
Receivables, included in "Accounts receivable net of allowance for doubtful accounts" |  | $ | 196,265 |  |  | $ | 376,504 |
Unearned revenue - current |  | 11,717 |  |  | 9,894 |
Unearned revenue - noncurrent |  | 1,703 |  |  | 2,113 |
Changes in Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables, and customer advances and deposits (unearned revenue) on the Company’s consolidated balance sheet. At times, however, the Company receives advance payments or deposits from its customers before revenue is recognized, resulting in contract liabilities. The contract liabilities primarily relate to the advance consideration received from customers on certain contracts. For these contracts, revenue is recognized in a manner that is consistent with the satisfaction of the underlying performance obligations. The contract liabilities are reported on the condensed consolidated balance sheet on a contract-by-contract basis at the end of each respective reporting period within the other current liabilities and other long-term liabilities line items. Significant changes in the contract liabilities balances during the period are as follows:
|  | Six Months Ended June 30, 2020
Description |  | Unearned Revenue
|  | (amounts in thousands)
Beginning balance on January 1, 2020 |  | $ | 12,007 |
Revenue recognized during the period that was included in the beginning balance of contract liabilities |  | (1,729) |
Additional amounts recognized during period |  | 3,142 |
Ending balance |  | $ | 13,420 |
Disaggregation of Revenue The following table presents the Company’s revenues disaggregated by revenue source:
|  | Six Months Ended June 30, |  |
|  | 2020 |  | 2019
Revenue by Source |  | (amounts in thousands) |  |
Broadcast revenues |  | $ | 444,372 |  |  | $ | 635,086 |
Event and other revenues |  | 23,098 |  |  | 46,401 |
Trade and barter revenues |  | 5,428 |  |  | 8,183 |
Net revenues |  | $ | 472,898 |  |  | $ | 689,670 |
|  | Three Months Ended June 30, |  |
|  | 2020 |  | 2019
Revenue by Source |  | (amounts in thousands) |  |
Broadcast revenues |  | $ | 167,615 |  |  | $ | 350,620 |
Event and other revenues |  | 6,312 |  |  | 26,875 |
Trade and barter revenues |  | 1,941 |  |  | 3,170 |
Net revenues |  | $ | 175,868 |  |  | $ | 380,665 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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