v3.22.4

Revenues from contracts with customers | 6 Months Ended
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Dec. 30, 2022
Revenue from Contract with Customer [Abstract] |
Revenues from contracts with customers | Revenues from contracts with customers Revenue by Geographic Area and End Market Revenues are attributed to a particular geographic area based on the bill-to-location of the Company’s customers. The Company operates in three geographic regions: North America; Asia-Pacific and others; and Europe. The following table presents total revenues by geographic region:
(in thousands, except percentages) | Three Months Ended December 30, 2022 |  | As a % of Total Revenues |  | Six Months Ended December 30, 2022 |  | As a % of Total Revenues
North America |  |  |  |  |  |  |
U.S. | $ | 319,918 |  |  |  |  | $ | 664,998 |  |  |
Others (1) | 4,033 |  |  |  |  | 7,657 |  |  |
Total revenue in North America | 323,951 |  |  | 48.5 | % |  | 672,655 |  |  | 50.8 | %
Asia-Pacific and others |  |  |  |  |  |  |
India | 82,178 |  |  |  |  | 162,211 |  |  |
Israel | 59,893 |  |  |  |  | 97,170 |  |  |
Malaysia | 50,390 |  |  |  |  | 99,714 |  |  |
Hong Kong | 39,723 |  |  |  |  | 72,195 |  |  |
China | 26,480 |  |  |  |  | 49,544 |  |  |
Thailand | 16,098 |  |  |  |  | 28,714 |  |  |
Japan | 11,737 |  |  |  |  | 22,085 |  |  |
Others | 1,901 |  |  |  |  | 5,061 |  |  |
Total revenue in Asia-Pacific and others | 288,400 |  |  | 43.1 | % |  | 536,694 |  |  | 40.5 | %
Europe |  |  |  |  |  |  |
U.K. | 30,316 |  |  |  |  | 63,148 |  |  |
Germany | 13,129 |  |  |  |  | 26,443 |  |  |
Ireland (2) | 143 |  |  |  |  | 262 |  |  |
Others | 12,717 |  |  |  |  | 24,883 |  |  |
Total revenue in Europe | $ | 56,305 |  |  | 8.4 | % |  | $ | 114,736 |  |  | 8.7 | %
Total revenue | $ | 668,656 |  |  | 100.0 | % |  | $ | 1,324,085 |  |  | 100.0 | %
(in thousands, except percentages) | Three Months Ended December 24, 2021 |  | As a % of Total Revenues |  | Six Months Ended December 24, 2021 |  | As a % of Total Revenues
North America |  |  |  |  |  |  |
U.S. | $ | 243,720 |  |  |  |  | $ | 488,994 |  |  |
Others (1) | 3,557 |  |  |  |  | 4,873 |  |  |
Total revenue in North America | 247,277 |  |  | 43.6 | % |  | 493,867 |  |  | 44.5 | %
Asia-Pacific and others |  |  |  |  |  |  |
India | 74,121 |  |  |  |  | 139,054 |  |  |
Malaysia | 60,369 |  |  |  |  | 112,118 |  |  |
Hong Kong | 23,206 |  |  |  |  | 44,237 |  |  |
Israel | 22,801 |  |  |  |  | 50,434 |  |  |
Japan | 15,832 |  |  |  |  | 30,809 |  |  |
China | 14,146 |  |  |  |  | 27,781 |  |  |
Others | 11,565 |  |  |  |  | 23,790 |  |  |
Total revenue in Asia-Pacific and others | 222,040 |  |  | 39.2 | % |  | 428,223 |  |  | 38.6 | %
Europe |  |  |  |  |  |  |
Ireland (2) | 54,900 |  |  |  |  | 104,384 |  |  |
U.K. | 22,941 |  |  |  |  | 42,519 |  |  |
Germany | 8,985 |  |  |  |  | 17,410 |  |  |
Others | 10,490 |  |  |  |  | 23,552 |  |  |
Total revenue in Europe | $ | 97,316 |  |  | 17.2 | % |  | $ | 187,865 |  |  | 16.9 | %
Total revenue | $ | 566,633 |  |  | 100.0 | % |  | $ | 1,109,955 |  |  | 100.0 | %
(1)Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0. (2)Due to change in bill-to-location for a certain customer. The following table presents revenues by end market:
(in thousands, except percentages) | Three Months Ended December 30, 2022 |  | As a % of Total Revenues |  | Six Months Ended December 30, 2022 |  | As a % of Total Revenues
Optical communications | $ | 506,056 |  |  | 75.7 | % |  | $ | 1,003,617 |  |  | 75.8 | %
Lasers, sensors and other | 162,600 |  |  | 24.3 | % |  | 320,468 |  |  | 24.2 | %
Total | $ | 668,656 |  |  | 100.0 | % |  | $ | 1,324,085 |  |  | 100.0 | %
(in thousands, except percentages) | Three Months Ended December 24, 2021 |  | As a % of Total Revenues |  | Six Months Ended December 24, 2021 |  | As a % of Total Revenues
Optical communications | $ | 450,783 |  |  | 79.6 | % |  | $ | 878,084 |  |  | 79.1 | %
Lasers, sensors and other | 115,850 |  |  | 20.4 | % |  | 231,871 |  |  | 20.9 | %
Total | $ | 566,633 |  |  | 100.0 | % |  | $ | 1,109,955 |  |  | 100.0 | %
Contract Assets and Liabilities A contract asset is recognized when the Company has recognized revenues prior to generating an invoice for payment. Contract assets are classified separately within the unaudited condensed consolidated balance sheets and transferred to accounts receivable when rights to payment become unconditional. A contract liability is recognized when the Company has advance payment arrangements with customers. The contract liabilities balance is normally recognized as revenue within six months. The following tables summarize the activity in the Company’s contract assets and contract liabilities during the six months ended December 30, 2022:
(in thousands) | Contract Assets
Beginning balance, June 24, 2022 | $ | 13,464 |
Revenue recognized | 31,601 |
Amounts collected or invoiced | (31,487) |
Ending balance, December 30, 2022 | $ | 13,578 |
(in thousands) | Contract Liabilities
Beginning balance, June 24, 2022 | $ | 1,982 |
Advance payment received during the period | 12,515 |
Revenue recognized | (10,861) |
Ending balance, December 30, 2022 | $ | 3,636 |

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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 https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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