General form of registration statement for all companies including face-amount certificate companies

Contract Assets and Liabilities (Tables)

v3.21.2
Contract Assets and Liabilities (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Contract Assets And Liabilities [Abstract]    
Summary of Contract Assets and Contract Liabilities
The components of contract assets and contract liabilities consisted of the following:​​​​​​​
    
September 30,
2021
     
December 31,
2020
  
    
(in thousands)
  
Contract assets - current
      
Unbilled revenue
    $ 649    $ 749
Other contract assets
      1,664      3,047
  
 
 
     
 
 
  
Total contract assets - current
    $ 2,313    $ 3,796
  
 
 
     
 
 
  
Contract liabilities - current
      
Deferred revenue - short-term
    $ 14,199    $ 14,030
Other contract liabilities
      254      507
  
 
 
     
 
 
  
Total contract liabilities - current
    $ 14,453    $ 14,537
  
 
 
     
 
 
  
Contract liabilities - long-term
    $ —      $ —  
Deferred revenue - long-term
      683      2,559
  
 
 
     
 
 
  
Total contract liabilities - long-term
    $ 683    $ 2,559
  
 
 
     
 
 
  
The components of contract assets and contract liabilities consist of the following:
 
    
December 31,
  
    
2020
     
2019
  
    
(in thousands)
  
Contract assets - current
                  
Unbilled revenue
    $ 749      $ —    
Contract assets
      3,047        —    
    
 
 
     
 
 
  
Total contract assets - current
    $ 3,796      $ —    
    
 
 
     
 
 
  
Contract liabilities - current
                  
Deferred revenue - short-term
    $ 14,030      $ 7,952  
Contract liabilities
      507        —    
    
 
 
     
 
 
  
Total contract liabilities - current
    $ 14,537      $ 7,952  
    
 
 
     
 
 
  
Contract liabilities - long-term
                  
Deferred revenue - long-term
      2,559        —    
    
 
 
     
 
 
  
Total contract liabilities - long-term
    $ 2,559      $ —    
    
 
 
     
 
 
  
Summary of Changes in Short-term Contract Liabilities   Changes in short-term contract liabilities as of January 1, 2020 were as follows:
Balance on January 1, 2020
      8,166  
Revenue recognized
      (14,656 ) 
Increase due to billings
      21,027  
    
 
 
  
Balance on December 31, 2020
    $ 14,537  
    
 
 
  
Summary of Changes in Short-term and Long-term Contract Assets and Contract Liabilities
Changes in short-term and long-term contract assets and contract liabilities reported as of January 1, 2021 were as follows:
 
 
  
Contract
Assets
 
  
Contract
Liabilities
 
 
  
(in thousands)
 
Balance as of January 1, 2021
  
$
3,796
  
  
$
17,096
  
Reclassification of the beginning contract liabilities to revenue
  
 
—  
 
  
 
(8,375
) 
Cash payments in advance of revenue recognition
  
 
—  
 
  
 
8,268
  
Reclassification of the beginning contract assets to receivables
  
 
(740
) 
  
 
—  
 
Cumulative
catch-up
adjustment arising from changes in estimates of transaction price
  
 
—  
 
  
 
(1,663
) 
Changes of contract costs
  
 
(743
) 
  
 
(190
) 
 
  
 
 
 
  
 
 
 
Balance as of September 30, 2021
  
$
2,313
  
  
$
15,136