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Revenue
9 Months Ended
Oct. 01, 2022
Revenue From Contract With Customer [Abstract]  
Revenue

NOTE 9. Revenue

The following table represents a disaggregation of revenue by timing of revenue:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

October 1,

 

 

September 25,

 

 

October 1,

 

 

September 25,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Point-in-time

$

242,209

 

 

$

190,014

 

 

$

716,645

 

 

$

533,308

 

Over-time

 

12,044

 

 

 

10,575

 

 

 

35,268

 

 

 

29,947

 

Total revenue

$

254,253

 

 

$

200,589

 

 

$

751,913

 

 

$

563,255

 

See Note 15 for additional discussion of the Company’s disaggregated revenue in detail.

 

Contract Liabilities

The Company records contract liabilities when the customer has been billed in advance of the Company completing its performance obligations primarily related to service contracts and installation.  For contracts that have a duration of one year or less, these amounts are recorded as current deferred revenue in the Condensed Consolidated Balance Sheets.  As of October 1, 2022 and January 1, 2022, the Company carried a long-term deferred revenue balance of $2,269 and $1,693, respectively, in other non-current liabilities on the Condensed Consolidated Balance Sheets.  

Changes in deferred revenue were as follows:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

October 1,

 

 

September 25,

 

 

October 1,

 

 

September 25,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Balance, beginning of the period

$

34,431

 

 

$

22,906

 

 

$

31,673

 

 

$

15,626

 

Deferred revenue assumed in acquisition

 

 

 

 

 

 

 

 

 

 

386

 

Deferral of revenue

 

15,333

 

 

 

17,317

 

 

 

60,389

 

 

 

51,666

 

Recognition of deferred revenue

 

(18,717

)

 

 

(12,364

)

 

 

(61,015

)

 

 

(39,819

)

Balance, end of the period

$

31,047

 

 

$

27,859

 

 

$

31,047

 

 

$

27,859