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Revenue from Contracts with Customers (Tables) | 12 Months Ended
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Dec. 28, 2019
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following tables provide disaggregation of revenue from contracts with customers by major class of revenue, revenue by channel, and by geographical market, based on ship-to location of the end customer, where available, and ship-to location of distributor otherwise:
| Major Class of Revenue |  | Year Ended *
| (In thousands) |  | December 28, 2019 |  | December 29, 2018 |  | December 30, 2017
| Product |  | $ | 382,548 |  | 95% |  | $ | 380,468 |  | 95% |  | $ | 356,502 |  | 92%
| Licensing and services |  | 21,545 |  | 5% |  | 18,331 |  | 5% |  | 29,459 |  | 8%
| Total revenue |  | $ | 404,093 |  | 100% |  | $ | 398,799 |  | 100% |  | $ | 385,961 |  | 100%
| Revenue by Channel |  | Year Ended *
| (In thousands) |  | December 28, 2019 |  | December 29, 2018 |  | December 30, 2017
| Product revenue - Distributors |  | $ | 331,941 |  | 82% |  | $ | 330,719 |  | 83% |  | $ | 297,736 |  | 77%
| Product revenue - Direct |  | 50,607 |  | 13% |  | 49,749 |  | 12% |  | 58,766 |  | 15%
| Licensing and services revenue |  | 21,545 |  | 5% |  | 18,331 |  | 5% |  | 29,459 |  | 8%
| Total revenue |  | $ | 404,093 |  | 100% |  | $ | 398,799 |  | 100% |  | $ | 385,961 |  | 100%
| Revenue by Geographical Market |  | Year Ended * |
| (In thousands) |  | December 28, 2019 |  | December 29, 2018 |  | December 30, 2017
| Asia |  | $ | 298,765 |  | 74% |  | $ | 298,119 |  | 75% |  | $ | 277,638 |  | 72%
| Europe |  | 47,392 |  | 12% |  | 45,546 |  | 11% |  | 44,547 |  | 12%
| Americas |  | 57,936 |  | 14% |  | 55,134 |  | 14% |  | 63,776 |  | 16%
| Total revenue |  | $ | 404,093 |  | 100% |  | $ | 398,799 |  | 100% |  | $ | 385,961 |  | 100%
* | Amounts in periods prior to fiscal 2018 have not been adjusted under the modified retrospective method of adopting ASC 606 and, therefore, are presented under GAAP in effect during that period.
Contracts with Customers | Contract assets are recorded in Prepaid expenses and other current assets in our Consolidated Balance Sheets. The following table summarizes activity during the periods presented:
(In thousands) |
Balance as of December 31, 2017 | $ | 7,515 |
Revenues recorded during the period | 11,618 |
Transferred to accounts receivable or collected | (9,990 | )
Contract assets as of December 29, 2018 | 9,143 |
Revenues recorded during the period | 17,356 |
Transferred to Accounts receivable or collected | (20,930 | )
Contract assets as of December 28, 2019 | $ | 5,569 |
Contract liabilities are included in Accounts payable and accrued expenses on our Consolidated Balance Sheets. The following table summarizes activity during the periods presented:
(In thousands) |
Contract liabilities as of December 31, 2017 | $ | — |
Accruals for estimated future stock rotation and scrap returns | 4,281 |
Less: Release of accruals for recognized stock rotation and scrap returns | (2,667 | )
Contract liabilities as of December 29, 2018 | 1,614 |
Accruals for estimated future stock rotation and scrap returns | 5,763 |
Less: Release of accruals for recognized stock rotation and scrap returns | (5,064 | )
Contract liabilities as of December 28, 2019 | $ | 2,313 |
Schedule of New Accounting Pronouncements | The effect of adoption on each financial statement line item is detailed in the tables below:
Condensed Consolidated Statement of Operations
|  | Year ended December 29, 2018
(In thousands, except per share data) |  | As reported under new standard |  | Adjustments |  | Pro forma as if previous standard was in effect
Product revenue |  | $ | 380,468 |  |  | $ | (14,098 | ) |  | $ | 366,370 |
Licensing and services revenue |  | 18,331 |  |  | (1,478 | ) |  | 16,853 |
Cost of product revenue |  | 179,101 |  |  | (6,399 | ) |  | 172,702 |
Net loss |  | $ | (26,322 | ) |  | $ | (9,177 | ) |  | $ | (35,499 | )
Net loss per share, basic and diluted |  | $ | (0.21 | ) |  | $ | (0.07 | ) |  | $ | (0.28 | )
Condensed Consolidated Balance Sheets
|  | As of December 29, 2018
(In thousands) |  | As reported under new standard |  | Adjustments |  | Pro forma as if previous standard was in effect
Accounts receivable, net of allowance for doubtful accounts |  | $ | 60,890 |  |  | $ | 6,600 |  |  | $ | 67,490 |
Inventories |  | 67,096 |  |  | 78 |  |  | 67,174 |
Prepaid expenses and other current assets |  | 27,762 |  |  | (9,775 | ) |  | 17,987 |
Total assets |  | $ | 623,687 |  |  | $ | (3,097 | ) |  | $ | 620,590 |
Accounts payable and accrued expenses (includes restructuring) |  | $ | 51,763 |  |  | $ | (1,156 | ) |  | $ | 50,607 |
Deferred income and allowances on sales to distributors |  | — |  |  | 34,637 |  |  | 34,637 |
Accumulated deficit |  | (476,783 | ) |  | (36,578 | ) |  | (513,361 | )
Total liabilities and stockholders' equity |  | $ | 623,687 |  |  | $ | (3,097 | ) |  | $ | 620,590 |
Condensed Consolidated Statement of Cash Flows
|  | Year ended December 29, 2018
(In thousands) |  | As reported under new standard |  | Adjustments |  | Pro forma as if previous standard was in effect
Cash flows from operating activities: |  |  |  |  |  |
Net loss |  | $ | (26,322 | ) |  | $ | (9,177 | ) |  | $ | (35,499 | )
Accounts receivable, net |  | (3,978 | ) |  | (8,408 | ) |  | (12,386 | )
Inventories |  | 13,177 |  |  | (448 | ) |  | 12,729 |
Prepaid expenses and other assets |  | (11,667 | ) |  | 2,260 |  |  | (9,407 | )
Accounts payable and accrued expenses (includes restructuring) |  | 13,325 |  |  | (1,614 | ) |  | 11,711 |
Deferred income and allowances on sales to distributors |  | $ | — |  |  | $ | 17,387 |  |  | $ | 17,387 |

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