Revenue and Customer Contract Balances

9 Months Ended

May 27, 2022

Revenue from Contract with Customer [Abstract]

Revenue and Customer Contract Balances

Revenue and Customer Contract Balances

We disaggregate revenue by segment and geography and by product and service revenue. See “Segment and Other Information.”

Net Sales and Gross Billings

Net sales by products and services and gross amounts billed for services, including logistics services in which we act as an agent for our customers, were as follows:

	Three Months Ended				Nine Months Ended
	May 27, 2022		May 28, 2021		May 27, 2022		May 28, 2021
Net sales:
Products and professional services	$	440,012	$	428,882	$	1,330,473	$	1,011,079
Logistics services	22,528		8,846		51,182		22,354
	$	462,540	$	437,728	$	1,381,655	$	1,033,433
Gross billings in connection with logistics services:
Logistics services	$	22,528	$	8,846	$	51,182	$	22,354
Cost of materials (1)	574,034		205,530		1,250,024		481,163
	$	596,562	$	214,376	$	1,301,206	$	503,517

(1) Included in gross billings in connection with services are amounts billed to customers for the cost of materials procured in an agent capacity in connection with our logistics services business, which includes procurement, logistics, inventory management, temporary warehousing, kitting and/or packaging services. While we take title to inventory under such arrangements, control of such inventory does not transfer to us as we do not, at any point, have the ability to direct the use, and thereby obtain the benefits of, the inventory.

Customer Contract Balances

As of	May 27, 2022		August 27, 2021
Contract assets (1)	$	459	$	4,247
Contract liabilities: (2)
Deferred revenue	$	19,288	$	19,271
Customer advances	13,584		15,835
	$	32,872	$	35,106

(1) Contract assets are included in other current assets.

(2) Contract liabilities are included in other current liabilities and noncurrent liabilities based on the timing of when our customer is expected to take control of the asset or receive the benefit of the service.

Deferred revenue related to amounts received from customers in advance of satisfying performance obligations. As of May 27, 2022, we expect to recognize revenue of $16.1 million of the balance of $19.3 million in the next 12 months and the remaining amount thereafter. In the first nine months of 2022, we recognized revenue of $12.9 million from satisfying performance obligations related to amounts included in deferred revenue as of August 27, 2021. Customer advances represent amounts received from customers for advance payments to secure product and services within the next 12 months. In the first nine months of 2022, we recognized revenue of $5.2 million from satisfying performance obligations related to amounts included in customer advances as of August 27, 2021.

As of May 27, 2022 and August 27, 2021, other current liabilities included $19.2 million and $24.9 million, respectively, for estimates of consideration payable to customers, including estimates for pricing adjustments and returns.