Revenue and Customer Contract Balances

12 Months Ended

Aug. 26, 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:

Year ended	August 26, 2022		August 27, 2021		August 28, 2020
Net sales:
Products and professional services	$	1,755,883	$	1,465,765	$	1,090,173
Logistics services	63,469		35,377		32,204
	$	1,819,352	$	1,501,142	$	1,122,377
Gross billings in connection with logistics services:
Logistics services	$	63,469	$	35,377	$	32,204
Cost of materials (1)	1,601,289		751,985		604,698
	$	1,664,758	$	787,362	$	636,902

(1)Included in gross billings 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	August 26, 2022		August 27, 2021
Contract assets (1)	$	1,322	$	4,247
Contract liabilities: (2)
Deferred revenue (3)	$	39,676	$	19,271
Customer advances	24,125		15,835
	$	63,801	$	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.

(3)Deferred revenue includes $23.3 million and $0.4 million as of August 26, 2022 and August 27, 2021, respectively, related to contracts that contain termination rights.

Contract assets represent amounts recognized as revenue for which we do not have the unconditional right to consideration. Contract assets as of August 26, 2022 related to amounts expected to be invoiced during the next 12 months. As of August 26,2022, there were no contract assets remaining to be invoiced from August 27, 2021.

Deferred revenue related to amounts received from customers in advance of satisfying performance obligations. As of August 26, 2022 we expect to recognize revenue of $30.8 million of the balance of $39.7 million in the next 12 months, and the remaining amount thereafter. In 2022, we recognized revenue of $14.1 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. In 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 August 26, 2022 and August 27, 2021, other current liabilities included $15.4 million and $24.9 million, respectively, for estimates of consideration payable to customers, including estimates for pricing adjustments and returns.