Revenue

12 Months Ended

Jun. 25, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Deferred Revenue

Revenue of $1,984.6 million included in deferred profit at June 26, 2022 was recognized during fiscal year 2023, representing the majority of the $2,198.1 million of deferred revenue as of June 26, 2022.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of June 25, 2023 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	$	1,624,427	$	183,045	(1)	$	30,435	(1)	$	1,837,907

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

Disaggregation of Revenue

The following table presents the Company’s revenue disaggregated between system and its customer-support related revenue:

	Year Ended
	June 25, 2023		June 26, 2022		June 27, 2021
	(in thousands)
Systems Revenue	$	10,695,897	$	11,322,271	$	9,764,845
Customer support-related revenue and other	6,732,619		5,904,768		4,861,305
	$	17,428,516	$	17,227,039	$	14,626,150

Systems 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 Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. Refer to Note 20: Segment, Geographic Information, and Major Customers; for additional information regarding the Company’s evaluation of reportable business segments and the disaggregation of revenue by the geographic regions in which the Company operates.

Additionally, the Company serves three primary markets: memory, foundry, and logic/integrated device manufacturing. 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:

	Year Ended
	June 25, 2023		June 26, 2022		June 27, 2021
Memory	42	%	60	%	61	%
Foundry	38	%	26	%	32	%
Logic/integrated device manufacturing	20	%	14	%	7	%