Revenues

9 Months Ended

Dec. 27, 2024

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three and nine months ended December 27, 2024, we recognized $742 million and $1,620 million from the contract liabilities balances as of September 27, 2024 and March 29, 2024, respectively. During the three and nine months ended December 29, 2023, we recognized $702 million and $1,580 million from the contract liabilities balances as of September 29, 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 December 27, 2024, we had $1,174 million of remaining performance obligations, excluding customer deposit liabilities of $675 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.