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Revenues | 3 Months Ended
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Mar. 28, 2020
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues The Company recognizes revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration which it expects to receive for providing those goods or services. We recognize revenue arising from performance obligations outlined in contracts with our customers that are satisfied at a point in time and over time. Substantially all revenue for tangible products is recognized at a point in time, whereby revenue for services and software is predominantly recognized over time. Disaggregation of Revenue The following table presents our Net sales disaggregated by category for each of our segments, Asset Intelligence & Tracking (“AIT”) and Enterprise Visibility & Mobility (“EVM”), for the three months ended March 28, 2020 and March 30, 2019 (in millions):
| March 28, 2020 |  | March 30, 2019
Segment | Tangible Products |  | Services and Software |  | Total |  | Tangible Products |  | Services and Software |  | Total
AIT | $ | 333 |  |  | $ | 38 |  |  | $ | 371 |  |  | $ | 320 |  |  | $ | 37 |  |  | $ | 357 |
EVM | 568 |  |  | 113 |  |  | 681 |  |  | 604 |  |  | 105 |  |  | 709 |
Total | $ | 901 |  |  | $ | 151 |  |  | $ | 1,052 |  |  | $ | 924 |  |  | $ | 142 |  |  | $ | 1,066 |
In addition, refer to Note 15, Segment Information & Geographic Data for Net sales to customers by geographic region. Performance Obligations The Company’s remaining obligations that are greater than one year in duration relate primarily to repair and support services. The aggregated transaction price allocated to remaining performance obligations related to these types of service arrangements, inclusive of deferred revenue, was $732 million and $724 million as of March 28, 2020 and December 31, 2019, respectively. On average, remaining performance obligations as of March 28, 2020 and December 31, 2019 are expected to be recognized over a period of approximately two years. Contract Balances Progress on satisfying performance obligations under contracts with customers is recorded on the Consolidated Balance Sheets in Accounts receivable, net for billed revenues. Progress on satisfying performance obligations under contracts with customers related to unbilled revenues (“contract assets”) is reflected on the Consolidated Balance Sheets as Prepaid expenses and other current assets for revenues expected to be billed within the next 12 months, and Other long-term assets for revenues expected to be billed thereafter. The total closing contract asset balances were $8 million as of March 28, 2020 and December 31, 2019. These contract assets result from timing differences between the billing and delivery schedules of products, services and software, as well as the impact from the allocation of the transaction price among performance obligations for contracts that include multiple performance obligations. Contract assets are evaluated for impairment and no impairment losses have been recognized during the three months ended March 28, 2020 and March 30, 2019. Deferred revenue on the Consolidated Balance Sheets consist of payments and billings in advance of our performance. The combined short-term and long-term deferred revenue balances were $478 million and $459 million as of March 28, 2020 and December 31, 2019, respectively. During the three months ended March 28, 2020 and March 30, 2019 the Company recognized $73 million and $70 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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