Revenues

3 Months Ended

Jul. 03, 2020

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three months ended July 3, 2020, we recognized $442 million from the contract liabilities balance at April 3, 2020. During the three months ended July 5, 2019, we recognized $471 million from the contract liabilities balance at March 29, 2019.

Remaining performance obligations

Remaining performance obligations represent contracted revenue that has not been recognized, which include contract liabilities and amounts that will be billed and recognized as revenue in future periods. As of July 3, 2020, we had $758 million of remaining performance obligations, which does not include customer deposit liabilities of $299 million, of which we expect to recognize approximately 96% as revenue over the next twelve months.