REVENUE (Tables)

12 Months Ended

Jul. 01, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets

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 1, 2023 (in thousands):

	Contract Assets
Beginning balance, July 2, 2022	$	21,974
Revenue recognized	573,444
Amounts collected or invoiced	(565,493)
Ending balance, July 1, 2023	$	29,925

The following table summarizes the activity in the Company’s contract assets during the twelve months ended July 2, 2022 (in thousands):

	Contract Assets
Beginning balance, July 3, 2021	24,781
Revenue recognized	515,831
Amounts collected or invoiced	(518,638)
Ending balance, July 2, 2022	$	21,974

Schedule of Disaggregation of Revenue

The following table presents the Company’s revenue disaggregated for the twelve months ended July 1, 2023 and the twelve months ended July 2, 2022 (in thousands):

	Revenue
Recognition	July 1, 2023		July 2, 2022
Over-Time	$	573,444	$	515,831
Point-in-Time	14,691		15,984
Total	588,135		$	531,815