REVENUE

9 Months Ended

Mar. 27, 2022

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Deferred Revenue

Revenue of $79.1 million and $835.8 million included in deferred revenue as of June 27, 2021 was recognized during the three and nine months ended March 27, 2022.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of March 27, 2022 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	$	1,876,645	$	173,845	(1)	$	18,934	(1)	$	2,069,424

(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 27, 2022		March 28, 2021		March 27, 2022		March 28, 2021
	(In thousands)
System revenue	$	2,650,842	$	2,545,306	$	8,315,898	$	7,000,968
Customer support-related revenue and other	1,409,574		1,302,348		4,275,587		3,480,003
	$	4,060,416	$	3,847,654	$	12,591,485	$	10,480,971

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 27, 2022		March 28, 2021		March 27, 2022		March 28, 2021
	(In thousands)
China	$	1,277,502	$	1,217,427	$	3,966,185	$	3,600,281
Korea	961,300		1,195,711		2,947,657		2,664,493
Taiwan	663,494		545,719		2,074,681		1,576,109
Southeast Asia	378,481		260,360		1,108,111		829,157
Japan	342,329		262,913		1,324,996		999,462
United States	309,161		184,887		782,170		460,271
Europe	128,149		180,637		387,685		351,198
	$	4,060,416	$	3,847,654	$	12,591,485	$	10,480,971

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 27, 2022		March 28, 2021		March 27, 2022		March 28, 2021
Memory	66	%	62	%	62	%	62	%
Foundry	21	%	31	%	26	%	31	%
Logic/integrated device manufacturing	13	%	7	%	12	%	7	%