v3.26.1
Customer Contracts
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Customer Contracts Customer Contracts
The following table presents the balances related to customer contracts:
(In millions)Condensed Consolidated Balance Sheets AccountDecember 31, 2025March 31, 2026
Accounts receivable, net
Accounts receivable, net (1)
$266.5 $265.8 
Current portion of contract assetsOther current assets$3.8 $5.3 
Non-current portion of contract assetsOther non-current assets$3.5 $3.1 
Current portion of deferred revenueDeferred revenue$94.6 $130.4 
Non-current portion of deferred revenueOther non-current liabilities$2.6 $2.3 
(1)    Allowance for credit losses and accrued customer credits was $12.2 million and $10.7 million as of December 31, 2025 and March 31, 2026, respectively.

Amounts recognized in revenue for the three months ended March 31, 2025 and 2026, which were included in deferred revenue as of the beginning of each period totaled $49.6 million and $60.1 million, respectively.

Cost Incurred to Obtain and Fulfill a Contract

As of December 31, 2025 and March 31, 2026, the balances of capitalized costs to obtain a contract were $30.8 million and $30.2 million, respectively, and the balances of capitalized costs to fulfill a contract were $16.3 million and $16.7 million, respectively. These capitalized costs are included in "Other non-current assets" on the Condensed Consolidated Balance Sheets.

Amortization of capitalized sales commissions and implementation costs was as follows:
Three Months Ended March 31,
(In millions)20252026
Amortization of capitalized sales commissions$6.8 $5.7 
Amortization of capitalized implementation costs$2.3 $2.6 

Remaining Performance Obligations    

As of March 31, 2026, the aggregate amount of transaction price allocated to remaining performance obligations was $575.5 million, of which approximately 39% is expected to be recognized as revenue during the remainder of 2026 and the remainder thereafter. These remaining performance obligations primarily relate to our fixed-term arrangements. The aggregate amount of transaction price excludes variable consideration related to our usage-based arrangements for which we recognize revenue based on the right to invoice for the services performed.

The E.U. Data Act became effective in September 2025 and establishes new requirements related to cloud service switching rights and limits on early termination fees. These provisions will require modifications to our existing E.U. contract terms. We are currently assessing which of our contracts are subject to these requirements. As of March 31, 2026, our existing contractual terms were in place and provide the basis for the remaining performance obligations disclosed above. We expect to revise our contractual terms to comply with the E.U. Data Act in 2026 which could reduce the amount of remaining performance obligations disclosed in future periods.