Revenues

3 Months Ended

Jul. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three months ended July 1, 2022, we recognized $508 million from the contract liabilities balance as of April 1, 2022. During the three months ended July 2, 2021, we recognized $498 million from the contract liabilities balance as of April 2, 2021.

Remaining performance obligations

Remaining performance obligations represent contract 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 1, 2022, we had $783 million of remaining performance obligations, excluding customer deposit liabilities of $437 million, of which we expect to recognize approximately 94% as revenue over the next 12 months.

See Note 17 for tabular disclosures of disaggregated revenue by solution and geographic region.