Revenue Recognition (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
|---|
| Revenue from Contract with Customer [Abstract] |
|
| Schedule of Disaggregation of Revenue |
The following table represents a disaggregation of the Company’s revenue from contracts with customers for the three months ended March 31, 2020 and 2019 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2020 |
|
2019 |
Revenue: |
|
|
|
|
Media & Content |
|
|
|
|
Licensing & Services |
|
$ |
68,385 |
|
|
$ |
80,010 |
|
Total Media & Content |
|
68,385 |
|
|
80,010 |
|
|
|
|
|
|
Connectivity |
|
|
|
|
Aviation Services |
|
30,706 |
|
|
31,241 |
|
Aviation Equipment |
|
6,403 |
|
|
14,060 |
|
Maritime & Land Services |
|
36,554 |
|
|
39,227 |
|
Maritime & Land Equipment |
|
2,117 |
|
|
2,081 |
|
Total Connectivity |
|
75,780 |
|
|
86,609 |
|
|
|
|
|
|
Total revenue |
|
$ |
144,165 |
|
|
$ |
166,619 |
|
|
| Schedule of Contract Assets and Liabilities |
The following table summarizes the significant changes in the balance for contract assets during the quarter ended March 31, 2020 (in thousands):
|
|
|
|
|
|
|
|
Contract Assets |
Balance as of December 31, 2019 |
|
$ |
14,431 |
|
Costs deferred for revenue recognized in excess of billings |
|
1,355 |
|
Costs included in the beginning balance recognized |
|
(3,187 |
) |
Balance as of March 31, 2020 |
|
$ |
12,599 |
|
|
|
|
Current contract assets |
|
$ |
2,159 |
|
Non-current contract assets |
|
10,440 |
|
Balance as of March 31, 2020 |
|
$ |
12,599 |
|
The following table summarizes the significant changes in the balance for contract liabilities, included within “Other non-current liabilities” in our unaudited condensed consolidated balance sheet, during the three months ended March 31, 2020 (in thousands):
|
|
|
|
|
|
|
|
Contract Liabilities |
Balance as of December 31, 2019 |
|
$ |
12,403 |
|
Revenue recognized that was included in the contract liability balance at the beginning of the period |
|
(6,723 |
) |
Increase due to cash received, excluding amounts recognized as revenue during the period |
|
3,941 |
|
Balance as of March 31, 2020 |
|
$ |
9,621 |
|
|
|
|
Deferred revenue, current |
|
$ |
9,535 |
|
Deferred revenue, non-current |
|
86 |
|
Balance as of March 31, 2020 |
|
$ |
9,621 |
|
|
| Schedule of Accounts Receivable and Bad Debts |
Accounts receivable consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
2020 |
|
2019 |
Accounts receivable, gross |
$ |
91,289 |
|
|
$ |
94,995 |
|
Less: Allowance for doubtful accounts |
(8,493 |
) |
|
(6,776 |
) |
Accounts receivable, net |
$ |
82,796 |
|
|
$ |
88,219 |
|
|
| Schedule of Capitalized Contract Cost Activity |
The following table summarizes the significant changes in the contract assets balances during the period ended March 31, 2020 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract Assets |
|
Costs to Obtain |
|
Costs to Fulfill |
|
Total |
Balance as of December 31, 2019 |
$ |
387 |
|
|
$ |
5,256 |
|
|
$ |
5,643 |
|
Capitalization during the period |
50 |
|
|
226 |
|
|
276 |
|
Amortization during the period |
(29 |
) |
|
(104 |
) |
|
(133 |
) |
Balance as of March 31, 2020 |
$ |
408 |
|
|
$ |
5,378 |
|
|
$ |
5,786 |
|
|