REVENUE

3 Months Ended

Sep. 29, 2019

Revenue from Contract with Customer [Abstract]

Deferred Revenue

Revenue of $198.0 million included in deferred revenue at June 30, 2019 was recognized during the three months ended September 29, 2019.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 29, 2019 and when the Company expects to recognize the amounts as revenue:



	Less than 1 Year		1-3 Years			More than 3 Years		Total
	(In thousands)
Deferred revenue	$	449,157	$	31,778	⁽¹⁾	$	—	$	480,935

(1) This amount is reported in Deferred profit on the Company's Condensed Consolidated Balance Sheets as the customers can demand the liability to be performed at any time.

Disaggregation of Revenue

The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution.

The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located. The Company serves three primary markets: memory, foundry, logic/integrated device manufacturing.

The following table presents the Company’s revenues disaggregated by geographic region:



	Three Months Ended
	September 29, 2019		September 23, 2018
	(In thousands)
China	$	591,668	$	593,831
Korea	451,483		379,771
Taiwan	391,492		280,050
Japan	273,673		670,040
Southeast Asia	213,755		198,135
United States	183,659		120,105
Europe	60,016		88,759
	$	2,165,746	$	2,330,691

The following table presents the percentages of system revenues to each of the primary markets we serve:



	Three Months Ended
	September 29, 2019		September 23, 2018
Memory	64	%	77	%
Foundry	25	%	17	%
Logic/integrated device manufacturing	11	%	6	%