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Revenue Recognition
 9 Months Ended
Jan. 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:
Three Months Ended January 27, 2024
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$5,802 $57,229 $5,021 $12,116 $6,508 $86,676 
Limited configuration22,157 8,395 20,900 5,646 6,702 63,800 
Service and other5,333 7,769 2,843 1,843 2,039 19,827 
$33,292 $73,393 $28,764 $19,605 $15,249 $170,303 
Timing of revenue recognition
Goods/services transferred at a point in time$24,361 $11,006 $20,819 $6,874 $7,473 $70,533 
Goods/services transferred over time8,931 62,387 7,945 12,731 7,776 99,770 
$33,292 $73,393 $28,764 $19,605 $15,249 $170,303 
Nine Months Ended January 27, 2024
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$28,231 $181,272 $31,679 $35,747 $25,291 $302,220 
Limited configuration80,822 32,127 97,514 22,182 19,243 251,888 
Service and other13,575 20,203 4,747 3,288 6,282 48,095 
$122,628 $233,602 $133,940 $61,217 $50,816 $602,203 
Timing of revenue recognition
Goods/services transferred at a point in time$84,758 $37,173 $94,622 $23,733 $21,235 $261,521 
Goods/services transferred over time37,870 196,429 39,318 37,484 29,581 340,682 
$122,628 $233,602 $133,940 $61,217 $50,816 $602,203 
Three Months Ended January 28, 2023
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$9,929 $53,437 $3,380 $11,446 $8,138 $86,330 
Limited configuration35,864 7,858 23,865 5,328 11,040 83,955 
Service and other4,174 6,453 1,067 804 2,192 14,690 
$49,967 $67,748 $28,312 $17,578 $21,370 $184,975 
Timing of revenue recognition
Goods/services transferred at a point in time$36,746 $10,125 $22,716 $5,571 $11,861 $87,019 
Goods/services transferred over time13,221 57,623 5,596 12,007 9,509 97,956 
$49,967 $67,748 $28,312 $17,578 $21,370 $184,975 
Nine Months Ended January 28, 2023
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$20,198 $148,467 $17,828 $35,330 $20,762 $242,585 
Limited configuration94,408 26,013 85,123 15,969 36,826 258,339 
Service and other12,526 18,890 3,176 2,498 6,320 43,410 
$127,132 $193,370 $106,127 $53,797 $63,908 $544,334 
Timing of revenue recognition
Goods/services transferred at a point in time$97,381 $31,029 $80,935 $16,702 $38,756 $264,803 
Goods/services transferred over time29,751 162,341 25,192 37,095 25,152 279,531 
$127,132 $193,370 $106,127 $53,797 $63,908 $544,334 
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:
January 27,
2024		April 29,
2023		Dollar
Change		Percent
Change
Contract assets$47,857 $46,789 $1,068 2.3 %
Contract liabilities - current68,936 91,549 (22,613)(24.7)
Contract liabilities - noncurrent16,347 13,096 3,251 24.8 
The changes in our contract assets and contract liabilities from April 29, 2023 to January 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 immaterial impairments of contract assets for the nine months ended January 27, 2024.
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 Condensed Consolidated Balance Sheets. Changes in unearned service-type warranty contracts, net were as follows:
January 27,
2024
Balance as of April 29, 2023$28,338 
New contracts sold38,943 
Less: reductions for revenue recognized(31,748)
Foreign currency translation and other(2,651)
Balance as of January 27, 2024$32,882 
Contracts in progress identified as loss contracts as of January 27, 2024 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 nine months ended January 27, 2024, we recognized revenue of $82,938 related to our contract liabilities as of April 29, 2023.
Remaining performance obligations
As of January 27, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations was $393,203. Remaining performance obligations related to product and service agreements as of January 27, 2024 were $328,279 and $64,924, respectively. We expect approximately $328,491 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 nine months ended January 27, 2024 and January 28, 2023 was immaterial.