Revenue Recognition Revenue Recognition

6 Months Ended

Oct. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 4. Revenue Recognition

Disaggregation of revenue

In accordance with ASC 606-10-50, we disaggregate revenue from contracts with customers by the type of performance obligation and the timing of revenue recognition. We determine that disaggregating revenue in these categories achieves the disclosure objective to

depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors and to enable users of financial statements to understand the relationship to each reportable segment.

The following table presents our disaggregation of revenue by segments:

	Three Months Ended October 31, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	3,508	$	27,302	$	5,091	$	8,975	$	6,367	$	51,243
Limited configuration	22,611		4,611		21,696		5,825		8,224		62,967
Service and other	4,237		5,909		791		523		1,697		13,157
	$	30,356	$	37,822	$	27,578	$	15,323	$	16,288	$	127,367
Timing of revenue recognition
Goods/services transferred at a point in time	$	23,226	$	6,736	$	19,718	$	5,930	$	8,468	$	64,078
Goods/services transferred over time	7,130		31,086		7,860		9,393		7,820		63,289
	$	30,356	$	37,822	$	27,578	$	15,323	$	16,288	$	127,367
	Six Months Ended October 31, 2020
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	12,235	$	69,277	$	12,759	$	16,699	$	10,379	$	121,349
Limited configuration	45,166		10,030		42,384		12,091		16,877		126,548
Service and other	7,461		9,989		1,378		1,031		3,255		23,114
	$	64,862	$	89,296	$	56,521	$	29,821	$	30,511	$	271,011
Timing of revenue recognition
Goods/services transferred at a point in time	$	46,118	$	12,950	$	39,086	$	12,304	$	17,647	$	128,105
Goods/services transferred over time	18,744		76,346		17,435		17,517		12,864		142,906
	$	64,862	$	89,296	$	56,521	$	29,821	$	30,511	$	271,011

	Three Months Ended November 2, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	9,007	$	41,413	$	5,186	$	12,419	$	10,542	$	78,567
Limited configuration	26,654		11,513		24,127		7,383		13,124		82,801
Service and other	3,990		6,393		880		528		1,752		13,543
	$	39,651	$	59,319	$	30,193	$	20,330	$	25,418	$	174,911
Timing of revenue recognition
Goods/services transferred at a point in time	$	27,304	$	13,169	$	22,112	$	7,521	$	13,500	$	83,606
Goods/services transferred over time	12,347		46,150		8,081		12,809		11,918		91,305
	$	39,651	$	59,319	$	30,193	$	20,330	$	25,418	$	174,911
	Six Months Ended November 2, 2019
	Commercial		Live Events		High School Park and Recreation		Transportation		International		Total
Type of performance obligation
Unique configuration	$	21,972	$	87,000	$	11,216	$	24,316	$	26,220	$	170,724
Limited configuration	53,889		19,226		47,927		13,970		23,054		158,066
Service and other	7,825		12,399		1,515		1,062		3,576		26,377
	$	83,686	$	118,625	$	60,658	$	39,348	$	52,850	$	355,167
Timing of revenue recognition
Goods/services transferred at a point in time	$	55,007	$	22,289	$	44,711	$	14,218	$	23,688	$	159,913
Goods/services transferred over time	28,679		96,336		15,947		25,130		29,162		195,254
	$	83,686	$	118,625	$	60,658	$	39,348	$	52,850	$	355,167

See "Note 5. Segment Reporting" for a disaggregation of revenue by geography.

Contract balances

Contract assets represent revenue recognized in excess of amounts billed and include unbilled receivables. Unbilled receivables, which represent an unconditional right to payment subject only to the passage of time, are reclassified to accounts receivable when they are billed according to the contract terms. Contract liabilities represent amounts billed to the customers in excess of revenue recognized to date.

The following table reflects the changes in our contract assets and liabilities:

	October 31, 2020		May 2, 2020		Dollar Change			Percent Change
Contract assets	$	26,707	$	35,467	$	(8,760	)	(24.7	)%
Contract liabilities - current	47,107		50,897		(3,790		)	(7.4	)
Contract liabilities - noncurrent	10,741		10,707		34			0.3

The changes in our contract assets and contract liabilities from May 2, 2020 to October 31, 2020 were due to the timing of billing schedules and revenue recognition, which can vary significantly depending on the contractual payment terms and the seasonality of the sports markets. We had no material impairments of contract assets for the six months ended October 31, 2020.

For service-type warranty contracts, we allocate revenue to this performance obligation, recognize the revenue over time, and recognize costs as incurred. Earned and unearned revenues for these contracts are included in the "Contract assets" and "Contract liabilities" line items in our condensed consolidated balance sheets. Changes in unearned service-type warranty contracts, net were as follows:

	October 31, 2020
Balance at beginning of period	$	24,490
New contracts sold	20,756
Less: reductions for revenue recognized	(20,290		)
Foreign currency translation and other	560
Balance at end of period	$	25,516

As of October 31, 2020 and May 2, 2020, our contracts in progress that were identified as loss contracts were immaterial. For these contracts, the provision for losses are included in the "Accrued expenses" line item in our condensed consolidated balance sheets.

During the six months ended October 31, 2020, we recognized revenue of $37,973 related to our contract liabilities as of May 2, 2020.

Remaining performance obligations

As of October 31, 2020, the aggregate amount of the transaction price allocated to the remaining performance obligations was $254,253. We expect approximately $211,663 of our remaining performance obligations to be recognized over the next 12 months, with the remainder recognized thereafter. Remaining performance obligations related to product and service agreements at October 31, 2020 are $200,505 and $53,748, respectively. Although remaining performance obligations reflect business that is considered to be legally binding, cancellations, deferrals or scope adjustments may occur. Any known project cancellations, revisions to project scope and cost, foreign currency exchange fluctuations and project deferrals are reflected or excluded in the remaining performance obligation balance, as appropriate.