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REVENUE (Tables)
 12 Months Ended
Jul. 03, 2021
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Contract Asset, Contract Liability, and Receivable
Contract Balances
A contract asset is recognized when the Company has recognized revenue, but has not issued an invoice for payment. Contract assets are classified separately on the condensed consolidated balance sheet and transferred to receivables when the right to payment becomes unconditional.
The following table summarizes the activity in the Company’s contract assets during the twelve months ended July 3, 2021 (in thousands):
Contract Assets
Beginning balance, June 27, 2020
$23,753 
Revenue recognized509,621 
Amounts collected or invoiced(508,593)
Ending balance, July 3, 2021
$24,781 
The following table summarizes the activity in the Company’s contract assets during the twelve months ended June 27, 2020 (in thousands):
Contract Assets
Beginning balance, June 29, 2019
22,161 
Revenue recognized441,405 
Amounts collected or invoiced(439,813)
Ending balance, June 27, 2020
$23,753 
The Company’s cumulative effect adjustment at July 1, 2018 was $11.9 million. Revenue recognized in FY2019 was $448.0 million with $437.7 million collected or invoiced, resulting in an ending balance of $22.2 million as of June 29, 2019.
Disaggregation of Revenue
The following table presents the Company’s revenue disaggregated for the twelve months ended July 3, 2021 and the twelve months ended June 27, 2020 (in thousands):
Revenue
RecognitionJuly 3, 2021June 27, 2020June 29, 2019
Over-Time$509,621 $441,405 $458,256 
Point-in-Time9,077 8,075 5,788 
Total$518,698 $449,480 $464,044