Deferred Revenue And Performance Obligations

3 Months Ended

Mar. 29, 2019

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue Disclosure [Text Block]

DEFERRED REVENUE AND REMAININGPERFORMANCE OBLIGATIONS

Deferred Revenue

Changes in the Company’s deferred revenue during the first quarter of fiscal 2019 and 2018 were as follows:

	First Quarter of
(In millions)	2019			2018
Beginning balance of the period	$	387.3		$	276.6
Revenue recognized	(138.4		)	(98.0		)
Acquired deferred revenue	—			22.3
Net deferred revenue activity	215.5			159.5
Ending balance of the period	$	464.4		$	360.4

Remaining Performance Obligations

As of the end of the first quarter of fiscal 2019, approximately $1.1 billion of revenue is expected to be recognized from remaining performance obligations for which goods or services have not been delivered, primarily subscription and software maintenance, and to a lesser extent, hardware and professional services contracts. The Company expects to recognize revenue of approximately 72% and 17% on these remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.