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REVENUE | 9 Months Ended
--- | ---
Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Disaggregation of Revenue The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution. The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located. The Company serves three primary markets: memory, foundry, and logic/integrated device manufacturing. The following table presents the Company’s revenues disaggregated between systems and customer support-related revenue:
| Three Months Ended |  | Nine Months Ended
| March 31, 2024 |  | March 26, 2023 |  | March 31, 2024 |  | March 26, 2023
| (In thousands)
Systems revenue | $ | 2,395,817 |  |  | $ | 2,256,033 |  |  | $ | 6,751,758 |  |  | $ | 8,985,538 |
Customer support-related revenue and other | 1,397,741 |  |  | 1,613,536 |  |  | 4,282,121 |  |  | 5,235,721 |
| $ | 3,793,558 |  |  | $ | 3,869,569 |  |  | $ | 11,033,879 |  |  | $ | 14,221,259 |
Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets. Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from the Company’s Reliant product line. The following table presents the Company’s revenues disaggregated by geographic region:
| Three Months Ended |  | Nine Months Ended
| March 31, 2024 |  | March 26, 2023 |  | March 31, 2024 |  | March 26, 2023
| (In thousands)
China | $ | 1,606,693 |  |  | $ | 839,710 |  |  | $ | 4,787,399 |  |  | $ | 3,633,692 |
Korea | 916,812 |  |  | 847,728 |  |  | 2,176,708 |  |  | 2,780,158 |
Japan | 340,331 |  |  | 406,219 |  |  | 1,177,696 |  |  | 1,440,857 |
Taiwan | 334,952 |  |  | 713,708 |  |  | 1,077,325 |  |  | 2,825,827 |
United States | 227,085 |  |  | 594,426 |  |  | 728,098 |  |  | 1,402,641 |
Southeast Asia | 190,328 |  |  | 155,935 |  |  | 495,060 |  |  | 1,225,835 |
Europe | 177,357 |  |  | 311,843 |  |  | 591,593 |  |  | 912,249 |
| $ | 3,793,558 |  |  | $ | 3,869,569 |  |  | $ | 11,033,879 |  |  | $ | 14,221,259 |
The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves:
| Three Months Ended |  | Nine Months Ended
| March 31, 2024 |  | March 26, 2023 |  | March 31, 2024 |  | March 26, 2023
Memory | 44 | % |  | 32 | % |  | 44 | % |  | 46 | %
Foundry | 44 | % |  | 46 | % |  | 39 | % |  | 36 | %
Logic/integrated device manufacturing | 12 | % |  | 22 | % |  | 17 | % |  | 18 | %
Deferred Revenue Revenue of $302.5 million and $1,228.4 million included in deferred profit at June 25, 2023 was recognized during the three and nine months ended March 31, 2024, representing 16% and 67%, respectively, of the $1,837.9 million of deferred revenue as of June 25, 2023. The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of March 31, 2024 and when the Company expects to recognize the amounts as revenue:
| Less than 1 Year |  | 1-3 Years |  | More than 3 Years |  | Total
| (In thousands)
Deferred revenue | $ | 1,371,378 |  |  | $ | 333,416 |  | (1) | $ | 41,051 |  | (1) | $ | 1,745,845 |
(1)This amount is reported in Deferred profit on the Company's Condensed Consolidated Balance Sheets as the customers can demand the liability to be performed at any time.

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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