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Revenue
 12 Months Ended
Dec. 28, 2024
Revenue from Contract with Customer [Abstract]  
Revenue

2. Revenue

In order to further depict how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors, the Company disaggregates 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 11 – Segment Information and Geographic Data. Note 11 also contains disaggregated revenue information of the five major product categories identified by the Company – fitness, outdoor, aviation, marine, 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 outdoor, aviation, and auto OEM segments and relate to performance obligations that are satisfied over the estimated 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 28, 2024

 

 

December 30, 2023

 

 

December 31, 2022

 

Point in time

 

$

5,968,124

 

 

$

4,938,479

 

 

$

4,602,636

 

Over time

 

 

328,779

 

 

 

289,773

 

 

 

257,650

 

Net sales

 

$

6,296,903

 

 

$

5,228,252

 

 

$

4,860,286

 

 

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 28, 2024 and December 30, 2023 are presented below:

 

 

 

Fiscal Year Ended

 

 

 

December 28, 2024

 

 

December 30, 2023

 

 

 

Deferred
Revenue (1)

 

 

Deferred
Costs (2)

 

 

Deferred
Revenue (1)

 

 

Deferred
Costs (2)

 

Balance, beginning of period

 

$

137,337

 

 

$

27,373

 

 

$

126,794

 

 

$

24,693

 

Deferrals in period

 

 

330,760

 

 

 

65,111

 

 

 

300,316

 

 

 

24,286

 

Recognition of deferrals in period

 

 

(328,779

)

 

 

(61,546

)

 

 

(289,773

)

 

 

(21,606

)

Balance, end of period

 

$

139,318

 

 

$

30,938

 

 

$

137,337

 

 

$

27,373

 

 

(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 $328,779 of deferred revenue recognized in the 52-weeks ended December 28, 2024, $92,093 was deferred as of the beginning of the period. Of the $289,773 of deferred revenue recognized in the 52-weeks ended December 30, 2023, $87,131 was deferred as of the beginning of the period. Of the $139,318 of deferred revenue as of December 28, 2024, the Company expects to recognize approximately eighty-five percent ratably over a total period of three years or less.