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Revenue
 12 Months Ended
Dec. 25, 2021
Revenue from Contract with Customer [Abstract]  
Revenue

12. Revenue

In order to further depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors, we disaggregate revenue (or “net sales”) by geographic region, major product category, and pattern of recognition.

Disaggregated revenue by geographic region (Americas, APAC, and EMEA) is presented in Note 8 – Segment Information. Note 8 also contains disaggregated revenue information of the six major product categories identified by the Company – fitness, outdoor, aviation, marine, consumer auto, and auto OEM.

 

A large majority of the Company’s sales are recognized on a point in time basis, usually once the product is shipped and title and risk of loss have transferred to the customer. Sales recognized over a period of time are primarily within the auto and outdoor segments and relate to performance obligations that are satisfied over the life of the product or contractual service period. Revenue disaggregated by the timing of transfer of the goods or services is presented in the table below:

 

 

 

Fiscal Year Ended

 

 

 

December 25, 2021

 

 

December 26, 2020

 

 

December 28, 2019

 

Point in time

 

$

4,762,260

 

 

$

3,998,251

 

 

$

3,577,715

 

Over time

 

 

220,535

 

 

 

188,322

 

 

 

179,790

 

Net sales

 

$

4,982,795

 

 

$

4,186,573

 

 

$

3,757,505

 

 

Transaction price and costs associated with the Company’s unsatisfied performance obligations are reflected as deferred revenue and deferred costs, respectively, on the Company’s Consolidated Balance Sheets. Such amounts are recognized ratably over the applicable service period or estimated useful life. Changes in deferred revenue and costs during the 52-week periods ending December 25, 2021 and December 26, 2020, are presented below:

 

 

 

Fiscal Year Ended

 

 

 

December 25, 2021

 

 

December 26, 2020

 

 

 

Deferred
 Revenue (1)

 

 

Deferred
Costs (2)

 

 

Deferred
Revenue (1)

 

 

Deferred
Costs (2)

 

Balance, beginning of period

 

$

136,799

 

 

$

36,655

 

 

$

161,891

 

 

$

48,598

 

Deferrals in period

 

 

213,008

 

 

 

16,345

 

 

 

163,230

 

 

 

17,850

 

Recognition of deferrals in period

 

 

(220,535

)

 

 

(24,678

)

 

 

(188,322

)

 

 

(29,793

)

Balance, end of period

 

$

129,272

 

 

$

28,322

 

 

$

136,799

 

 

$

36,655

 

 

(1) Deferred revenue is comprised of both deferred revenue and noncurrent deferred revenue per the Consolidated Balance Sheets

(2) Deferred costs are comprised of both deferred costs and noncurrent deferred costs per the Consolidated Balance Sheets

 

Of the $220,535 of deferred revenue recognized in the 52-weeks ended December 25, 2021, $80,786 was deferred as of the beginning of the period. Of the $188,322 of deferred revenue recognized in the 52-weeks ended December 26, 2020, $92,618 was deferred as of the beginning of the period.

Of the $129,272 of deferred revenue as of December 25, 2021, approximately seventy-five percent is recognized ratably over a period of three years or less.