Revenues

3 Months Ended

Jun. 28, 2024

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three months ended June 28, 2024, we recognized $722 million from the contract liabilities balances as of March 29, 2024. During the three months ended June 30, 2023, we recognized $711 million from the contract liabilities balances as of March 31, 2023.

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 June 28, 2024, we had $1,283 million of remaining performance obligations, excluding customer deposit liabilities of $536 million, of which we expect to recognize approximately 94% as revenue over the next 12 months.

See Note 16 for tabular disclosures of disaggregated revenue by solution and geographic region.