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REVENUE FROM CONTRACTS WITH CUSTOMERS
 12 Months Ended
Dec. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
Disaggregation of Revenue
The following table disaggregates the Company’s revenue by major business line and timing of transfer of products or services:
Timing of Revenue Recognition:202320222021
(in thousands)
RMS
Services and products transferred over time$377,947 $340,708 $263,659 
Services and products transferred at a point in time414,396 398,467 426,778 
Total RMS revenue792,343 739,175 690,437 
DSA
Services and products transferred over time2,611,564 2,440,646 2,103,415 
Services and products transferred at a point in time4,059 6,670 3,816 
Total DSA revenue2,615,623 2,447,316 2,107,231 
Manufacturing
Services and products transferred over time381,942 371,500 335,745 
Services and products transferred at a point in time339,501 418,069 406,747 
Total Manufacturing revenue721,443 789,569 742,492 
Total revenue$4,129,409 $3,976,060 $3,540,160 
Contract Balances from Contracts with Customers
The following table provides information about client receivables, contract assets, and contract liabilities from contracts with customers:
December 30, 2023December 31, 2022
(in thousands)
Assets from contracts with customers
Client receivables$578,077 $559,410 
Unbilled revenue228,020 204,258 
Total806,097 763,668 
Less: Allowance for credit losses(25,722)(11,278)
Trade receivables and contract assets, net$780,375 $752,390 
Liabilities from contracts with customers
Current deferred revenue$241,820 $264,259 
Long term deferred revenue (included in Other long-term liabilities)30,919 25,795 
Customer contract deposits (included in Other current-liabilities)85,554 91,640 
The Company recognized substantially all of the current contract assets and liabilities balances at December 31, 2022 and December 25, 2021 in revenues during fiscal years 2023 and 2022, respectively.
When the Company does not have the unconditional right to advanced billings, both advanced client payments and unpaid advanced client billings are excluded from deferred revenue, with the advanced billings also being excluded from client receivables. The Company excluded approximately $41 million and $54 million of unpaid advanced client billings from both client receivables and deferred revenue in the accompanying consolidated balance sheets as of December 30, 2023 and December 31, 2022, respectively. Net provisions were $18.2 million, $6.7 million, and $1.7 million in fiscal years 2023, 2022, and 2021, respectively.
Transaction Price Allocated to Future Performance Obligations
The Company discloses the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of December 30, 2023. Excluded from the disclosure is the value of unsatisfied performance obligations for contracts with an original expected length of one year or less, contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed and service revenue recognized in accordance with ASC 842, “Leases”. The aggregate amount of transaction price allocated to the remaining performance obligations for all open customer contracts as of December 30, 2023 was $986.0 million. The Company will recognize revenues for these performance obligations as they are satisfied, approximately 50% of which is expected to occur within the next twelve months and the remainder recognized thereafter during the remaining contract term.
Other Performance Obligations
As part of the Company’s service offerings, the Company has identified performance obligations related to leasing Company owned assets. In certain arrangements, customers obtain substantially all of the economic benefits of the identified assets, which may include manufacturing suites and related equipment, and have the right to direct the assets’ use over the term of the contract. The associated revenue is recognized on a straight-line basis over the term of the lease, which is generally less than one year.
202320222021
(in thousands)Affected Line Item in the Consolidated Statements of Income
Lease revenue$93,103 $60,118 $18,118 Service revenue