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Revenue Recognition
6 Months Ended
Oct. 29, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
The following table presents our disaggregation of revenue by segments:
Three Months Ended October 29, 2022
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$5,582 $52,862 $7,856 $11,398 $6,123 $83,821 
Limited configuration26,768 9,675 32,975 4,542 14,285 88,245 
Service and other4,697 6,702 1,175 739 2,060 15,373 
$37,047 $69,239 $42,006 $16,679 $22,468 $187,439 
Timing of revenue recognition
Goods/services transferred at a point in time$28,078 $11,682 $31,129 $4,749 $15,019 $90,657 
Goods/services transferred over time8,969 57,557 10,877 11,930 7,449 96,782 
$37,047 $69,239 $42,006 $16,679 $22,468 $187,439 
Six Months Ended October 29, 2022
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$10,269 $95,030 $14,448 $23,884 $12,624 $156,255 
Limited configuration58,544 18,155 61,258 10,641 25,786 174,384 
Service and other8,352 12,437 2,109 1,694 4,128 28,720 
$77,165 $125,622 $77,815 $36,219 $42,538 $359,359 
Timing of revenue recognition
Goods/services transferred at a point in time$60,635 $20,904 $58,219 $11,131 $26,895 $177,784 
Goods/services transferred over time16,530 104,718 19,596 25,088 15,643 181,575 
$77,165 $125,622 $77,815 $36,219 $42,538 $359,359 
Three Months Ended October 30, 2021
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$4,559 $43,528 $6,908 $8,976 $11,562 $75,533 
Limited configuration25,977 8,825 24,916 4,552 10,466 74,736 
Service and other3,927 7,043 923 525 1,790 14,208 
$34,463 $59,396 $32,747 $14,053 $23,818 $164,477 
Timing of revenue recognition
Goods/services transferred at a point in time$26,362 $11,508 $23,115 $4,634 $10,815 $76,434 
Goods/services transferred over time8,101 47,888 9,632 9,419 13,003 88,043 
$34,463 $59,396 $32,747 $14,053 $23,818 $164,477 
Six Months Ended October 30, 2021
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$8,146 $85,036 $11,074 $15,517 $17,445 $137,218 
Limited configuration51,884 14,667 47,873 9,904 22,011 146,339 
Service and other7,214 12,080 1,694 1,190 3,474 25,652 
$67,244 $111,783 $60,641 $26,611 $42,930 $309,209 
Timing of revenue recognition
Goods/services transferred at a point in time$52,741 $18,337 $45,056 $10,205 $22,834 $149,173 
Goods/services transferred over time14,503 93,446 15,585 16,406 20,096 160,036 
$67,244 $111,783 $60,641 $26,611 $42,930 $309,209 
See "Note 5. Segment Reporting" for a disaggregation of revenue by geography.
Contract balances
Contract assets represent revenue recognized in excess of amounts billed and include unbilled receivables. Unbilled receivables, which represent an unconditional right to payment subject only to the passage of time, are reclassified to accounts receivable when they are billed according to the contract terms. Contract liabilities represent amounts billed to the customers in excess of revenue recognized to date.
The following table reflects the changes in our contract assets and liabilities:
October 29,
2022
April 30,
2022
Dollar
Change
Percent
Change
Contract assets$39,330 $41,687 $(2,357)(5.7)%
Contract liabilities - current90,403 90,393 10 — 
Contract liabilities - noncurrent12,303 10,998 1,305 11.9 
The changes in our contract assets and contract liabilities from April 30, 2022 to October 29, 2022 were due to the timing of billing schedules and revenue recognition, which can vary significantly depending on the contractual payment terms and the seasonality of the sports markets. We had no impairments of contract assets for the six months ended October 29, 2022.
For service-type warranty contracts, we allocate revenue to this performance obligation, recognize the revenue over time, and recognize costs as incurred. Earned and unearned revenues for these contracts are included in the "Contract assets" and "Contract liabilities". Changes in unearned service-type warranty contracts, net were as follows:
October 29,
2022
Balance at beginning of period$26,346 
New contracts sold25,860 
Less: reductions for revenue recognized(21,381)
Foreign currency translation and other(270)
Balance at end of period$30,555 
Contracts in progress identified as loss contracts as of October 29, 2022 were $482 and as of April 30, 2022 were immaterial. Loss provisions are recorded in the "Accrued expenses" line item in our condensed consolidated balance sheets.
During the six months ended October 29, 2022, we recognized revenue of $65,533 related to our contract liabilities as of April 30, 2022.
Remaining performance obligations
As of October 29, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations was $524,251. Remaining performance obligations related to product and service agreements at October 29, 2022 were $463,084 and $61,167, respectively. We expect approximately $467,498 of our remaining performance obligations to be recognized over the next 12 months, with the remainder recognized thereafter. Although remaining performance obligations reflect business that is considered to be legally binding, cancellations, deferrals or scope adjustments may occur. Any known project cancellations, revisions to project scope and cost, foreign currency exchange fluctuations, and project deferrals are reflected or excluded in the remaining performance obligation balance, as appropriate.