v3.26.1
Receivables, Contract Assets, Contract Liabilities and Performance Obligations
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Receivables, Contract Assets, Contract Liabilities and Performance Obligations Receivables, Contract Assets, Contract Liabilities and Performance Obligations
Contract Balances
The following table provides information about receivables, contract assets and contract liabilities as of June 30, 2026 and December 31, 2025 (in thousands):
June 30,
2026		December 31,
2025
Current receivables, which are included in “Accounts receivable, net”$7,815,930 $5,516,984 
Contract assets, net58,589 65,745 
Long-term accounts receivable, net
699,011 763,923 
Long-term contract assets, net40,901 53,176 
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”153,133 152,910 
Significant changes in the gross contract assets balances during the six months ended June 30, 2026 are as follows (in thousands):
Contract
Assets
Balances at December 31, 2025$126,228 
Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional(36,195)
Contract assets recognized, net of reclassification to receivables14,519 
Balances at June 30, 2026$104,552 
Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of June 30, 2026, contract assets, net of allowances, were $99,490,000.
Gross contract assets by our internal risk ratings as of June 30, 2026 are summarized as follows (in thousands):
Contract
Assets
Low risk$31,321 
Moderate risk52,292 
High risk20,939 
Total contract assets$104,552 
Changes in the contract liabilities balances during the six months ended June 30, 2026 are as follows (in thousands):
Contract
Liabilities
Balances at December 31, 2025
$152,910 
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied(90,561)
Cash received in advance and not recognized as revenue90,784 
Balances at June 30, 2026
$153,133 
During the six months ended June 30, 2025, the Company recognized revenue of $54,920,000 related to its contract liabilities.
Transaction price allocated to the remaining performance obligations
The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2026 that are expected to be recognized in the future (in thousands):
Services
Remainder of 2026$108,132 
2027113,537 
202854,042 
2029 and thereafter28,311 
Total remaining performance obligations$304,022 
With the exception of remaining performance obligations associated with our OneCall Support Services contracts which are included in the table above regardless of original duration, the remaining performance obligations that have original expected durations of one year or less are not included in the table above. Certain contracts are cancellable for convenience and are effectively month-to-month. These contracts are excluded from the total remaining performance obligation disclosure under the practical expedient for contracts with an original expected duration of one year or less. Additionally, for our time and material services contracts, including disposal service arrangements, whereby we have the right to consideration from a client in an amount that corresponds directly with the value to the client of our performance completed to date, we recognized revenue in the amount to which we have a right to invoice as of June 30, 2026 and do not disclose information about related remaining performance obligations in the table above.