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Revenue
 12 Months Ended
Jan. 02, 2022
Revenue from Contract with Customer [Abstract]  
Revenue
2. REVENUE
Our revenue is generated primarily from the sale of products and services. Product revenue primarily consists of sales of instruments and consumables used in genetic analysis. Service and other revenue primarily consists of revenue generated from genotyping and sequencing services, instrument service contracts, development and licensing agreements, and cancer detection testing services related to the GRAIL business.
Revenue by Source

202120202019
in millionsSequencingMicroarrayTotalSequencingMicroarrayTotalSequencingMicroarrayTotal
Consumables$2,911 $306 $3,217 $2,039 $265 $2,304 $2,075 $317 $2,392 
Instruments734 17 751 417 14 431 517 20 537 
Total product revenue3,645 323 3,968 2,456 279 2,735 2,592 337 2,929 
Service and other revenue464 94 558 423 81 504 476 138 614 
Total revenue$4,109 $417 $4,526 $2,879 $360 $3,239 $3,068 $475 $3,543 

Revenue by Geographic Area

Based on region of destination (in millions)202120202019
Americas (1)
$2,358 $1,744 $1,970 
Europe, Middle East, and Africa1,289 886 933 
Greater China (2)
502 342 372 
Asia-Pacific377 267 268 
Total revenue$4,526 $3,239 $3,543 
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(1)Revenue for the Americas region included United States revenue of $2,195 million, $1,655 million, and $1,859 million in 2021, 2020, and 2019, respectively.
(2)Region includes revenue from China, Taiwan, and Hong Kong.

Performance Obligations

We regularly enter into contracts with multiple performance obligations. Most performance obligations are generally satisfied within a short time frame, approximately three to six months, after the contract execution date. As of January 2, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,035 million, of which approximately 89% is expected to be converted to revenue in 2022, approximately 9% in the following twelve months, and the remainder thereafter.

Contract Assets and Liabilities

Contract assets, which consist of revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing, as of January 2, 2022 and January 3, 2021 were $16 million and $15 million, respectively, of which the short-term portions of $16 million and $14 million, respectively, were recorded in prepaid expenses and other current assets, and the remaining long-term portions were recorded in other assets.
Contract liabilities, which consist of deferred revenue and customer deposits, as of January 2, 2022 and January 3, 2021 were $297 million and $230 million, respectively, of which the short-term portions of $234 million and $186 million, respectively, were recorded in accrued liabilities and the remaining long-term portions were recorded in other long-term liabilities. The increase is primarily related to an increase in instrument service contracts invoiced to customers for which the performance obligations have not yet been completed. Revenue recorded in 2021 included $183 million of previously deferred revenue that was included in contract liabilities as of January 3, 2021.