Revenues

9 Months Ended

Dec. 29, 2023

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three and nine months ended December 29, 2023, we recognized $688 million and $1,536 million from the contract liabilities balances as of September 29, 2023 and March 31, 2023, respectively. During the three and nine months ended December 30, 2022, we recognized $686 million and $1,116 million from the contract liabilities balances as of September 30, 2022 and April 1, 2022, 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 December 29, 2023, we had $1,147 million of remaining performance obligations, excluding customer deposit liabilities of $597 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.