Deferred Revenue And Performance Obligations

6 Months Ended

Jun. 28, 2019

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue Disclosure [Text Block]

DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS

Deferred Revenue

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

	Second Quarter of						First Two Quarters of
(In millions)	2019			2018			2019			2018
Beginning balance of the period	$	464.4		$	360.4		$	387.3		$	276.6
Revenue recognized	(85.4		)	(62.2		)	(223.8		)	(160.2		)
Acquired deferred revenue	—			1.4			—			23.7
Net deferred revenue activity	73.4			56.6			288.9			216.1
Ending balance of the period	$	452.4		$	356.2		$	452.4		$	356.2

Remaining Performance Obligations

As of the end of the second 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.