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Deferred Revenue And Remaining Performance Obligations | 6 Months Ended
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Jul. 03, 2020
Revenue Recognition and Deferred Revenue [Abstract] |
Deferred Revenue and Performance Obligations | DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS Deferred Revenue Changes to our deferred revenue during the second quarter and first two quarters of fiscal 2020 and 2019 were as follows:
| Second Quarter of |  | First Two Quarters of
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Beginning balance of the period | $ | 551.5 |  |  | $ | 464.4 |  |  | $ | 541.9 |  |  | $ | 387.3 |
Revenue recognized | (130.1 | ) |  | (85.4 | ) |  | (331.9 | ) |  | (223.8 | )
Net deferred revenue activity | 109.6 |  |  | 73.4 |  |  | 321.0 |  |  | 288.9 |
Ending balance of the period | $ | 531.0 |  |  | $ | 452.4 |  |  | $ | 531.0 |  |  | $ | 452.4 |
Remaining Performance Obligations As of the end of the second quarter of fiscal 2020, approximately $1.2 billion of revenue is expected to be recognized from remaining performance obligations for which goods or services have not been delivered, primarily subscription and software maintenance, and to a lesser extent, hardware and professional services contracts. We expect to recognize revenue of approximately 72% and 17% on these remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

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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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