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

6 Months Ended

Jun. 27, 2020

Revenue Recognition and Deferred Revenue [Abstract]

Contract with Customer, Asset and Liability

The following table summarizes the Company’s estimated Unrecognized Contract Revenue as of June 27, 2020 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	$	220,841	$	355,722	$	166,663	$	43,054	$	786,280

Changes in deferred revenue were as follows (in thousands):



	Six Months Ended June 27, 2020
Deferred revenue, beginning of the period	$	13,998
Increase from business combinations	10,064
Revenue deferred during the period	13,835
Recognition of revenue deferred in prior periods	(7,088		)
Deferred revenue, end of the period	$	30,809

During the three months ended March 28, 2020, the Company completed an immaterial business combination. Based on the Company’s preliminary purchase price allocation for this transaction, approximately $9.5 million of the purchase price was assigned to deferred revenue.

During the three months ended June 27, 2020, the Company completed another immaterial business combination. Based on the Company’s preliminary purchase price allocation for this transaction, approximately $0.6 million of the purchase price was assigned to deferred revenue.

The Company is still gathering additional information to finalize these preliminary estimates and expects to finalize the purchase price allocations as soon as practicable, but no later than one year from the acquisition dates.

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



	June 27, 2020			December 28, 2019
Deferred revenue	$	30,809		$	13,998
Accrued rebates and allowances	9,806			8,436
Accrued customer reimbursements	4,571			5,739
Total deferred revenue and other contract liabilities	45,186			28,173
Less: Non-current portion of deferred revenue	(3,727		)	(2,234		)
Deferred revenue and other contract liabilities - current	$	41,459		$	25,939