Revenue

9 Months Ended

Oct. 01, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Revenues are recognized when control of the promised goods or services is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense.

The following tables present our revenues disaggregated by contract duration for the three and nine month periods ended October 1, 2023 and October 2, 2022, respectively. Long-term and short-term contracts consist of our contracts with customers with terms greater than one year and less than or equal to one year, respectively.

	Three Months Ended October 1, 2023
(Amounts in thousands)	Park Admissions		Park Food, Merchandise and Other		Sponsorship, International Agreements and Accommodations		Total
Long-term contracts	$	21,075	$	2,538	$	7,163	$	30,776
Short-term contracts and other(1)	265,244		234,165		17,270		516,679
Total revenues	$	286,319	$	236,703	$	24,433	$	547,455

	Three Months Ended October 2, 2022
(Amounts in thousands)	Park Admissions		Park Food, Merchandise and Other		Sponsorship, International Agreements and Accommodations		Total
Long-term contracts	$	20,481	$	1,915	$	6,301	$	28,697
Short-term contracts and other (1)	260,021		207,184		8,929		476,134
Total revenues	$	280,502	$	209,099	$	15,230	$	504,831

	Nine Months Ended October 1, 2023
(Amounts in thousands)	Park Admissions		Park Food, Merchandise and Other		Sponsorship, International Agreements and Accommodations		Total
Long-term contracts	$	38,002	$	4,501	$	20,733	$	63,236
Short-term contracts and other(1)	563,583		475,780		30,753		1,070,116
Total revenues	$	601,585	$	480,281	$	51,486	$	1,133,352

	Nine Months Ended October 2, 2022
(Amounts in thousands)	Park Admissions		Park Food, Merchandise and Other		Sponsorship, International Agreements and Accommodations		Total
Long-term contracts	$	40,433	$	4,923	$	16,329	$	61,685
Short-term contracts and other (1)	554,833		441,526		20,316		1,016,675
Total revenues	$	595,266	$	446,449	$	36,645	$	1,078,360

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(1)Other revenues primarily include sales of single-use tickets and short-term transactional sales for which we have the right to invoice.

Long-term Contracts

As of January 1, 2023, $33.5 million of unearned revenue associated with outstanding long-term contracts was reported in "Deferred revenue," of which $30.8 million and $51.6 million was recognized as revenue for long-term contracts during the three and nine months ended October 1, 2023, respectively. As of October 1, 2023, the total unearned amount of revenue for remaining long-term contract performance obligations was $71.6 million. As of January 1, 2022, $58.7 million of unearned revenue associated with outstanding long-term contracts was reported in "Deferred revenue," of which $24.6 million and $49.4 million was recognized as revenue for long-term contracts during the three and nine months ended October 2, 2022, respectively. As of October 2, 2022, the total unearned amount of revenue for remaining long-term contract performance obligations was $21.4 million.

As of October 1, 2023, we expect to recognize estimated revenue for partially or wholly unsatisfied performance obligations on long-term contracts of approximately $13.9 million in the remainder of 2023, $73.6 million in 2024, $9.2 million in 2025, $7.1 million in 2026, and $12.8 million in 2027 and thereafter.