Revenues

12 Months Ended

Apr. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenues

Contract liabilities

During fiscal 2022 and 2021, we recognized $1,187 million and $1,050 million of revenue, respectively, from the contract liabilities balance at the beginning of the respective fiscal years.

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 April 1, 2022, we had $785 million of remaining performance obligations, excluding customer deposit liabilities of $521 million, of which we expect to recognize approximately 94% as revenue over the next 12 months.

See Note 1 for a description of our revenue recognition policy and Note 17 for tabular disclosures of disaggregated revenue by solution and geographic region.