Revenues

6 Months Ended

Sep. 27, 2024

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three and six months ended September 27, 2024, we recognized $733 million and $1,261 million from the contract liabilities balances as of June 28, 2024 and March 29, 2024, respectively. During the three and six months ended September 29, 2023, we recognized $705 million and $1,232 million from the contract liabilities balances as of June 30, 2023 and March 31, 2023, respectively.

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 September 27, 2024, we had $1,232 million of remaining performance obligations, excluding customer deposit liabilities of $595 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.