Table:
|  | December 31, |  | Change |  |  |
| --- | --- | --- | --- | --- | --- |
| (Dollars in thousands) | 2019 | 2018 | Reported |  | Constant currency |
| Maintenance | $292,696 | $269,708 | $22,988 | 9% | 8% |
| Term | 231,267 | 190,349 | 40,918 | 21% | 21% |
| Client Cloud | 523,963 | 460,057 | 63,906 | 14% | 14% |
| Pega Cloud | 169,329 | 109,973 | 59,356 | 54% | 54% |
| Total ACV | $693,292 | $570,030 | $123,262 | 22% | 22% |
Paragraphs:
Annual Contract Value (“ACV”) (1) (2)
The change in ACV measures the growth and predictability of future cash flows from committed Pega Cloud and Client Cloud arrangements as of the end of the particular reporting period.
Total ACV, as of a given date, is the sum of the following two components:
• Client Cloud: the sum of (1) the annual value of each term license contract in effect on such date, which is equal to its total license value divided by the total number of years and (2) maintenance revenue reported for the quarter ended on such date, multiplied by four. We do not provide hosting services for Client Cloud arrangements.
• Pega Cloud: the sum of the annual value of each cloud contract in effect on such date, which is equal to its total value divided by the total number of years.
(1) Data Table
(2) As foreign currency exchange rates are an important factor in understanding period to period comparisons, we believe the presentation of ACV growth rates on a constant currency basis enhances the understanding of our results and evaluation of our performance in comparison to prior periods.
Question:
What is the percentage change in the maintenance values between 2018 and 2019?
Answer: (292696 - 269708)/269708  = 8.52