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Deferred Revenue and Other Contract-Related Liabilities Deferred Revenue and Other Contract-Related Liabilities

12 Months Ended

Dec. 29, 2018

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue and Other Contract-Related Liabilities

Deferred Revenue and Other Contract Liabilities

Deferred revenue and other contract liabilities consist of the following (in thousands):

	December 29, 2018				December 30, 2017 As Adjusted
Accrued customer reimbursements	$	16,194			$	16,896
Deferred revenue	10,883				11,589
Accrued rebates and incentives	6,282				3,598
Other	432				259
Total deferred revenue and other contract liabilities	33,791				32,342
Less: Non-current portion of deferred revenue	(685		)		(237		)
Deferred revenue and other contract liabilities - current	$	33,106			$	32,105

Deferred revenue relates to contracted amounts that have been invoiced to customers for which remaining performance obligations must be completed before the Company can recognize the revenue. These amounts primarily relate to undelivered equipment, sensors and services under deferred equipment agreements, extended warranty agreements and NRE service agreements.

Changes in deferred revenue for the year ended December 29, 2018 were as follows:

	December 29, 2018
Deferred revenue, beginning of the period	$	11,589
Revenue deferred during the period	11,356
Recognition of revenue deferred in prior periods	(12,062		)
Deferred revenue, end of the period	$	10,883

Expected revenue from remaining contractual performance obligations (Unrecognized Contract Revenue) includes deferred revenue, as well as other amounts that will be invoiced and recognized as revenue in future periods, when the Company completes its performance obligations. While Unrecognized Contract Revenue is similar in concept to backlog, Unrecognized Contract Revenue excludes revenue allocable to monitoring-related equipment that is effectively leased to hospitals under deferred equipment agreements and other contractual obligations for which neither party has performed.

The following table summarizes the Company’s estimated Unrecognized Contract Revenue as of December 29, 2018 and the future periods within which the Company expects to recognize such revenue.

	Expected Future Revenue By Period (in thousands)
	Less than 1 year				Between 1-3 years				Between  3-5 years				More than 5 years				Total
Unrecognized Contract Revenue	$	194,151			$	271,477			$	128,116			$	36,688			$	630,432

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- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 430
-URI http://asc.fasb.org/topic&trid=2122452

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- References

No definition available.

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