REVENUE

9 Months Ended

Mar. 28, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Deferred Revenue

Revenue of $69.1 million and $427.2 million included in deferred revenue as of June 28, 2020 was recognized during the three and nine months ended March 28, 2021.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of March 28, 2021 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	$	661,240	$	156,040	(1)	$	—	$	817,280

(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				Nine Months Ended
	March 28, 2021		March 29, 2020		March 28, 2021		March 29, 2020
	(In thousands)
System revenue	$	2,545,306	$	1,647,560	$	7,000,968	$	4,759,881
Customer support-related revenue and other	1,302,348		856,065		3,480,003		2,492,991
	$	3,847,654	$	2,503,625	$	10,480,971	$	7,252,872

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				Nine Months Ended
	March 28, 2021		March 29, 2020		March 28, 2021		March 29, 2020
	(In thousands)
China	$	1,217,427	$	792,412	$	3,600,281	$	2,142,366
Korea	1,195,711		589,072		2,664,493		1,503,733
Taiwan	545,719		515,485		1,576,109		1,587,848
Japan	262,913		239,751		999,462		721,664
Southeast Asia	260,360		62,800		829,157		460,723
United States	184,887		215,015		460,271		622,399
Europe	180,637		89,090		351,198		214,139
	$	3,847,654	$	2,503,625	$	10,480,971	$	7,252,872

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				Nine Months Ended
	March 28, 2021		March 29, 2020		March 28, 2021		March 29, 2020
Memory	62	%	56	%	62	%	57	%
Foundry	31	%	31	%	31	%	31	%
Logic/integrated device manufacturing	7	%	13	%	7	%	12	%