Revenue Recognition (Tables)
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12 Months Ended |
Dec. 31, 2019 |
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| Revenue from Contract with Customer [Abstract] |
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| Disaggregation of Revenue |
The following table represents a disaggregation of the Company’s revenue from contracts with customers for the twelve months ended December 31, 2019 and 2018 (in thousands):
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Twelve Months Ended December 31, |
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2019 |
|
2018 |
Revenue: |
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Media & Content |
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|
|
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Licensing & Services |
|
$ |
311,079 |
|
|
$ |
315,409 |
|
Total Media & Content |
|
311,079 |
|
|
315,409 |
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|
|
|
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Connectivity |
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|
|
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Aviation Services |
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$ |
124,884 |
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|
$ |
120,130 |
|
Aviation Equipment |
|
54,159 |
|
|
30,518 |
|
Maritime & Land Services |
|
156,199 |
|
|
170,688 |
|
Maritime & Land Equipment |
|
10,556 |
|
|
10,349 |
|
Total Connectivity |
|
345,798 |
|
|
331,685 |
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|
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Total revenue |
|
$ |
656,877 |
|
|
$ |
647,094 |
|
|
| Contract with Customer, Asset and Liability |
The following table summarizes the significant changes in the balance for contract assets during the year ended December 31, 2019 (in thousands):
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Contract Assets |
Balance as of December 31, 2018 |
|
$ |
4,696 |
|
Increase in contract assets primarily due to revenue recognized in excess of billings |
|
9,734 |
|
Balance as of December 31, 2019 |
|
$ |
14,431 |
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|
|
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Current contract assets |
|
$ |
4,399 |
|
Non-current contract assets |
|
10,032 |
|
Balance as of December 31, 2019 |
|
$ |
14,431 |
|
The Company may invoice upfront for services recognized over time or for contracts in which it has unsatisfied performance obligations. Contract payment terms are generally 30 to 45 days. When the timing of invoicing differs from the timing of revenue recognition, the Company determines its contracts to include a financing component when the contractual term is for more than a year.
The following table summarizes the significant changes in the balance for contract liabilities, included within “Other non-current liabilities” in our consolidated balance sheet, during the year ended December 31, 2019 (in thousands):
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Contract Liabilities |
Balance as of December 31, 2018 |
|
$ |
8,546 |
|
Revenue recognized that was included in the contract liability balance at the beginning of the period |
|
(8,054 |
) |
Increase due to cash received, excluding amounts recognized as revenue during the period |
|
11,911 |
|
Balance as of December 31, 2019 |
|
$ |
12,403 |
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|
|
|
Deferred revenue, current |
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$ |
12,317 |
|
Deferred revenue, non-current |
|
86 |
|
Balance as of December 31, 2019 |
|
$ |
12,403 |
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| Schedule of Accounts Receivable and Allowance For Doubtful Accounts |
Accounts receivable consist of the following (in thousands):
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December 31, |
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December 31, |
|
2019 |
|
2018 |
Accounts receivable, gross |
$ |
94,995 |
|
|
$ |
103,301 |
|
Less: Allowance for doubtful accounts |
(6,776 |
) |
|
(5,678 |
) |
Accounts receivable, net |
$ |
88,219 |
|
|
$ |
97,623 |
|
Movements in the balance for allowance for doubtful accounts for the twelve months ended December 31, 2019 and 2018 are as follows (in thousands):
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2019 |
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2018 |
Beginning balance |
$ |
5,678 |
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|
$ |
8,680 |
|
Additions charged to statements of operations |
4,616 |
|
|
1,227 |
|
Less: Bad debt write offs |
(3,518 |
) |
|
(4,229 |
) |
Ending balance |
$ |
6,776 |
|
|
$ |
5,678 |
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| Schedule of Capitalized Contract Costs |
The following table summarizes the significant changes in the contract assets balances during the period ended December 31, 2019 (in thousands):
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Contract Assets |
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Costs to Obtain |
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Costs to Fulfill |
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Total |
Balance as of December 31, 2018 |
$ |
234 |
|
|
$ |
4,011 |
|
|
$ |
4,245 |
|
Capitalization during the year |
300 |
|
|
2,290 |
|
|
2,590 |
|
Amortization during the year |
(147 |
) |
|
(1,045 |
) |
|
(1,192 |
) |
Balance as of December 31, 2019 |
$ |
387 |
|
|
$ |
5,256 |
|
|
$ |
5,643 |
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