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Revenue Recognition
 3 Months Ended
Jul. 29, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
In accordance with Accounting Standards Codification ("ASC") 606-10-50, we disaggregate revenue from contracts with customers by the type of performance obligation and the timing of revenue recognition. We determine that disaggregating revenue in these categories achieves the disclosure objective to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors and to enable users of financial statements to understand the relationship to each reportable segment.
The following table presents our disaggregation of revenue by segments:
Three Months Ended July 29, 2023
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$12,918 $76,547 $15,119 $12,584 $8,790 $125,958 
Limited configuration29,913 9,961 40,337 8,067 5,239 93,517 
Service and other4,052 5,491 778 718 2,017 13,056 
$46,883 $91,999 $56,234 $21,369 $16,046 $232,531 
Timing of revenue recognition
Goods/services transferred at a point in time$31,018 $10,777 $39,081 $8,267 $5,843 $94,986 
Goods/services transferred over time15,865 81,222 17,153 13,102 10,203 137,545 
$46,883 $91,999 $56,234 $21,369 $16,046 $232,531 
Three Months Ended July 30, 2022
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$4,687 $42,168 $6,592 $12,486 $6,501 $72,434 
Limited configuration31,776 8,480 28,283 6,099 11,501 86,139 
Service and other3,655 5,735 934 955 2,068 13,347 
$40,118 $56,383 $35,809 $19,540 $20,070 $171,920 
Timing of revenue recognition
Goods/services transferred at a point in time$32,557 $9,222 $27,090 $6,382 $11,876 $87,127 
Goods/services transferred over time7,561 47,161 8,719 13,158 8,194 84,793 
$40,118 $56,383 $35,809 $19,540 $20,070 $171,920 
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:
July 29,
2023		April 29,
2023		Dollar
Change		Percent
Change
Contract assets$50,539 $46,789 $3,750 8.0 %
Contract liabilities - current89,318 91,549 (2,231)(2.4)
Contract liabilities - noncurrent14,541 13,096 1,445 11.0 
The changes in our contract assets and contract liabilities from April 29, 2023 to July 29, 2023 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 three months ended July 29, 2023.
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:
July 29,
2023
Balance as of April 29, 2023$28,338 
New contracts sold13,218 
Less: reductions for revenue recognized(9,785)
Foreign currency translation and other(1,044)
Balance as of July 29, 2023$30,727 
Contracts in progress identified as loss contracts as of July 29, 2023 and as of April 29, 2023 were immaterial. Loss provisions are recorded in the "Accrued expenses" line item in our condensed consolidated balance sheets.
During the three months ended July 29, 2023, we recognized revenue of $59,506 related to our contract liabilities as of April 29, 2023.
Remaining performance obligations
As of July 29, 2023, the aggregate amount of the transaction price allocated to the remaining performance obligations was $386,622. Remaining performance obligations related to product and service agreements as of July 29, 2023 were $323,725 and $62,897, respectively. We expect approximately $320,898 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. The amount of revenue recognized associated with performance obligations satisfied in prior years during the three months ended July 29, 2023 and July 30, 2022 was immaterial.