XML 28 R10.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Revenue Recognition
 12 Months Ended
Apr. 27, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
In accordance with 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:
Fiscal Year 2024
CommercialLive EventsHigh School Park and
Recreation		TransportationInternationalTotal
Type of performance obligation
Unique configuration$32,914 $269,184 $38,819 $52,142 $29,562 $422,621 
Limited configuration109,458 41,805 124,113 27,913 24,164 327,453 
Service and other19,254 27,519 7,417 5,335 8,484 68,009 
$161,626 $338,508 $170,349 $85,390 $62,210 $818,083 
Timing of revenue recognition
Goods/services transferred at a point in time$115,836 $48,899 $121,175 $30,866 $27,049 $343,825 
Goods/services transferred over time45,790 289,609 49,174 54,524 35,161 474,258 
$161,626 $338,508 $170,349 $85,390 $62,210 $818,083 
Fiscal Year 2023
CommercialLive EventsHigh School Park and
Recreation		TransportationInternationalTotal
Type of performance obligation
Unique configuration$25,821 $223,560 $22,730 $45,286 $33,623 $351,020 
Limited configuration128,346 36,259 114,951 23,946 43,007 346,509 
Service and other16,423 25,081 4,067 3,074 8,022 56,667 
$170,590 $284,900 $141,748 $72,306 $84,652 $754,196 
Timing of revenue recognition
Goods/services transferred at a point in time$132,728 $43,761 $109,323 $24,950 $45,687 $356,449 
Goods/services transferred over time37,862 241,139 32,425 47,356 38,965 397,747 
$170,590 $284,900 $141,748 $72,306 $84,652 $754,196 
Fiscal Year 2022
CommercialLive EventsHigh School Park and
Recreation		TransportationInternationalTotal
Type of performance obligation
Unique configuration$20,849 $144,095 $20,175 $38,843 $32,658 $256,620 
Limited configuration118,308 30,181 88,162 21,370 43,029 301,050 
Service and other15,054 24,830 3,479 2,494 7,443 53,300 
$154,211 $199,106 $111,816 $62,707 $83,130 $610,970 
Timing of revenue recognition
Goods/services transferred at a point in time$120,776 $37,229 $82,678 $22,088 $45,036 $307,807 
Goods/services transferred over time33,435 161,877 29,138 40,619 38,094 303,163 
$154,211 $199,106 $111,816 $62,707 $83,130 $610,970 
See "Note 3. 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 clients in excess of revenue recognized to date.
The following table reflects the changes in our contract assets and liabilities:
April 27, 2024April 29, 2023Dollar ChangePercent Change
Contract assets$55,800 $46,789 $9,011 19.3 %
Contract liabilities - current65,524 91,549 (26,025)(28.4)
Contract liabilities - non-current16,342 13,096 3,246 24.8 
The changes in our contract assets and contract liabilities from April 29, 2023 to April 27, 2024 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 significant impairments of contract assets for fiscal 2024, and we had no impairments of contract assets for fiscal 2023 and 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" line items of our consolidated balance sheets. Changes in unearned service-type warranty contracts, net were as follows:
April 27, 2024April 29, 2023
Balance at beginning of year$28,338 $26,346 
New contracts sold49,099 44,216 
Less: reductions for revenue recognized(43,520)(42,132)
Foreign currency translation and other(1,758)(92)
Balance at end of year$32,159 $28,338 
Contracts in process identified as loss contracts as of April 27, 2024 and April 29, 2023 were immaterial. Loss provisions are recorded in "Accrued expenses" line item in our consolidated balance sheets.
During fiscal 2024, we recognized revenue of $84,140 related to our contract liabilities as of April 29, 2023.
Remaining performance obligations and revenue recognized from past performance obligations
As of April 27, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations was $382,939. Remaining performance obligations related to product and service agreements as of April 27, 2024 were $316,905 and $66,034, respectively. We expect approximately $323,421 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 years ended April 27, 2024 and April 29, 2023 was immaterial.