REVENUE

3 Months Ended

Sep. 24, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

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 24, 2023		September 25, 2022
	(In thousands)
Systems revenue	$	2,056,655	$	3,181,987
Customer support-related revenue and other	1,425,407		1,892,134
	$	3,482,062	$	5,074,121

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

	Three Months Ended
	September 24, 2023		September 25, 2022
	(In thousands)
China	$	1,687,311	$	1,530,475
Korea	547,945		855,378
Japan	324,520		458,693
United States	282,224		304,977
Taiwan	242,490		1,120,946
Europe	238,469		262,588
Southeast Asia	159,103		541,064
	$	3,482,062	$	5,074,121

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 24, 2023		September 25, 2022
Memory	38	%	52	%
Foundry	36	%	34	%
Logic/integrated device manufacturing	26	%	14	%

Deferred Revenue

Revenue of $561.8 million included in deferred profit at June 25, 2023 was recognized during the three months ended September 24, 2023, representing 31% of the $1,837.9 million of deferred revenue as of June 25, 2023.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 24, 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	$	1,421,440	$	226,972	(1)	$	42,035	(1)	$	1,690,447

(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.