REVENUE

6 Months Ended

Dec. 29, 2019

Revenue from Contract with Customer [Abstract]

Deferred Revenue

Revenue of $125.9 million and $323.9 million included in deferred revenue at June 30, 2019 was recognized during the three and six months ended December 29, 2019.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of December 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	$	372,927	$	37,834	⁽¹⁾	$	—	$	410,761

(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, and logic/integrated device manufacturing.

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



	Three Months Ended				Six Months Ended
	December 29, 2019		December 23, 2018		December 29, 2019		December 23, 2018
	(In thousands)
China	$	758,286	$	361,782	$	1,349,954	$	955,613
Taiwan	680,871		425,533		1,072,363		705,583
Korea	463,178		631,502		914,661		1,011,272
United States	223,725		135,696		407,384		255,801
Japan	208,240		691,817		481,913		1,361,857
Southeast Asia	184,168		165,204		397,923		363,340
Europe	65,033		111,139		125,049		199,898
	$	2,583,501	$	2,522,673	$	4,749,247	$	4,853,364

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



	Three Months Ended				Six Months Ended
	December 29, 2019		December 23, 2018		December 29, 2019		December 23, 2018
Memory	52	%	79	%	58	%	78	%
Foundry	36	%	13	%	31	%	15	%
Logic/integrated device manufacturing	12	%	8	%	11	%	7	%