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Deferred Revenue and Other Contract Liabilities Deferred Revenue and Other Contract Liabilities (Tables)

6 Months Ended

Jun. 29, 2019

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue, by Arrangement, Disclosure

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

	June 29, 2019				December 29, 2018
Deferred revenue(1)	$	13,825			$	10,883
Accrued rebates and incentives	7,054				6,282
Accrued customer reimbursements(2)	4,515				16,194
Other contract-related liabilities	606				432
Total deferred revenue and other contract-related liabilities	26,000				33,791
Less: Non-current portion of deferred revenue	(126		)		(685		)
Deferred revenue and other contract-related liabilities - current	$	25,874			$	33,106

______________

⁽¹⁾ In connection with its adoption of ASC 842 on December 30, 2018, the Company recorded a reduction to deferred revenue of approximately $1.1 million due to the acceleration of revenue as a result of the reclassification of certain embedded leases within the Company’s deferred equipment agreements with its customers from operating to sales-type leases. See “Recently Adopted Accounting Pronouncements” to these condensed consolidated financial statements for additional information related to the Company’s adoption of ASC 842.

⁽²⁾

In connection with its adoption of ASC 842 on December 30, 2018, the Company recorded a reduction to accrued customer reimbursements of approximately $12.3 million related to the derecognition of liabilities and leased equipment assets related to certain OEM equipment reimbursements. See “Recently Adopted Accounting Pronouncements” to these condensed consolidated financial statements for additional information related to the Company’s adoption of ASC 842.

Changes in deferred revenue for the six months ended June 29, 2019 were as follows:

	Six Months Ended   June 29, 2019
Deferred revenue, beginning of the period	$	10,883
Revenue deferred during the period	5,780
Recognition of revenue deferred in prior periods	(2,838		)
Deferred revenue, end of the period	$	13,825

The following table summarizes the Company’s estimated Unrecognized Contract Revenue as of June 29, 2019 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	$	211,727			$	278,572			$	121,698			$	27,316			$	639,313

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- Definition

Tabular disclosure of the type of arrangements and the corresponding amounts that comprise the current and noncurrent balance of deferred revenue as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 8
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118951113&loc=d3e6935-107765

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X

- References

No definition available.

+ Details

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