Revenue Recognition

3 Months Ended

Apr. 03, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Deferred contract assets and deferred contract liabilities are included in our condensed consolidated balance sheets as follows (in thousands):

	April 3, 2021		January 2, 2021
Deferred Contract Assets included in:
Other current assets	$	23,924	$	26,593
Other non-current assets	45,075		37,976
	$	68,999	$	64,569

	April 3, 2021		January 2, 2021
Deferred Contract Liabilities included in:
Other current liabilities	$	31,623	$	35,288
Other non-current liabilities	58,736		49,689
	$	90,359	$	84,977

During the three months ended April 3, 2021 and March 28, 2020, we recognized revenue of $7 million and $10 million, that were included in the deferred contract liability balances at the beginning of the respective periods.

Revenue from goods and services transferred to customers at a point in time accounted for approximately 99% and 98% of our revenues for the three months ended April 3, 2021 and March 28, 2020, respectively.

Net sales were as follows (in thousands):

	Three Months Ended
	April 3, 2021		March 28, 2020
Retail stores	$	489,188	$	435,357
Online, phone, chat and other	79,068		37,209
Total Company	$	568,256	$	472,566

Obligation for Sales Returns

The activity in the sales returns liability account was as follows (in thousands):

	Three Months Ended
	April 3, 2021		March 28, 2020
Balance at beginning of year	$	24,765	$	19,809
Additions that reduce net sales	23,711		22,258
Deductions from reserves	(23,866)		(19,794)
Balance at end of period	$	24,610	$	22,273