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Revenue Recognition | 6 Months Ended
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Jul. 03, 2022
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands):
|  | Three-months Ended |  | Six-months Ended
|  | July 3, 2022 |  | July 4, 2021 |  | July 3, 2022 |  | July 4, 2021
Americas |  | $ | 91,551 |  |  | $ | 108,418 |  |  | $ | 218,210 |  |  | $ | 216,254 |
Europe |  | 61,840 |  |  | 59,967 |  |  | 124,631 |  |  | 117,015 |
Greater China |  | 78,616 |  |  | 59,706 |  |  | 127,021 |  |  | 97,944 |
Other Asia |  | 42,621 |  |  | 41,067 |  |  | 87,173 |  |  | 76,972 |
|  | $ | 274,628 |  |  | $ | 269,158 |  |  | $ | 557,035 |  |  | $ | 508,185 |
The following table summarizes disaggregated revenue information by revenue type (in thousands):
|  | Three-months Ended |  | Six-months Ended
|  | July 3, 2022 |  | July 4, 2021 |  | July 3, 2022 |  | July 4, 2021
Standard products and services |  | $ | 221,474 |  |  | $ | 234,322 |  |  | $ | 479,354 |  |  | $ | 456,648 |
Application-specific customer solutions |  | 53,154 |  |  | 34,836 |  |  | 77,681 |  |  | 51,537 |
|  | $ | 274,628 |  |  | $ | 269,158 |  |  | $ | 557,035 |  |  | $ | 508,185 |
Costs to Fulfill a Contract Costs to fulfill a contract are included in "Prepaid expenses and other current assets" on the Consolidated Balance Sheet and amounted to $14,428,000 and $10,854,000 as of July 3, 2022 and December 31, 2021, respectively. Accounts Receivable, Contract Assets, and Contract Liabilities Accounts receivable represent amounts billed and currently due from customers which are reported at their net estimated realizable value. The Company maintains an allowance against its accounts receivable for credit losses. Contract assets consist of unbilled revenue which arises when revenue is recognized in advance of billing for certain application-specific customer solutions contracts. Contract liabilities consist of deferred revenue and customer deposits which arise when amounts are billed to or collected from customers in advance of revenue recognition. The following table summarizes the allowance for credit losses activity for the six-month period ended July 3, 2022 (in thousands):
Balance as of December 31, 2021 | $ | 776 |
Write-offs, net of recoveries | (36) |
Foreign exchange rate changes | 1 |
Balance as of July 3, 2022 | $ | 741 |
The following table summarizes the deferred revenue and customer deposits activity for the six-month period ended July 3, 2022 (in thousands):
Balance as of December 31, 2021 | $ | 35,743 |
Deferral of revenue billed in the current period, net of recognition | 69,834 |
Recognition of revenue deferred in prior period | (28,557) |
Foreign exchange rate changes | (1,635) |
Balance as of July 3, 2022 | $ | 75,385 |
As a practical expedient, the Company has elected not to disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations, as our contracts have an original expected duration of less than one year.

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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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