Revenues

6 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three and six months ended September 30, 2022, we recognized $502 million and $875 million from the contract liabilities balances as of July 1, 2022 and April 1, 2022, respectively. During the three and six months ended October 1, 2021, we recognized $506 million and $858 million from the contract liabilities balances as of July 2, 2021 and April 2, 2021, respectively.

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 September 30, 2022, we had $1,204 million of remaining performance obligations, excluding customer deposit liabilities of $480 million, of which we expect to recognize approximately 93% as revenue over the next 12 months.

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