REVENUE

3 Months Ended

Sep. 27, 2020

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Deferred Revenue

Revenue of $274.3 million included in deferred revenue at June 28, 2020 was recognized during the three months ended September 27, 2020.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 27, 2020 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	$	581,580	$	98,520	(1)	$	—	$	680,100

(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 between system and its customer support-related revenue:

	Three Months Ended
	September 27, 2020		September 29, 2019
	(In thousands)
System revenue	$	2,148,241	$	1,365,228
Customer support-related revenue and other	1,028,839		800,518
	$	3,177,080	$	2,165,746

System revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from the Company’s Reliant product line.

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

	Three Months Ended
	September 27, 2020		September 29, 2019
	(In thousands)
China	$	1,174,669	$	591,668
Korea	756,257		451,483
Taiwan	446,091		391,492
Japan	392,526		273,673
Southeast Asia	203,339		213,755
United States	137,892		183,659
Europe	66,306		60,016
	$	3,177,080	$	2,165,746

The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves:

	Three Months Ended
	September 27, 2020		September 29, 2019
Memory	58	%	64	%
Foundry	36	%	25	%
Logic/integrated device manufacturing	6	%	11	%