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Revenue Recognition
 3 Months Ended
Jul. 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 July 27, 2024
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$2,262 $94,318 $10,634 $14,536 $2,614 $124,364 
Limited configuration26,300 8,294 35,148 6,609 8,072 84,423 
Service and other5,637 5,996 2,224 1,345 2,099 17,301 
$34,199 $108,608 $48,006 $22,490 $12,785 $226,088 
Timing of revenue recognition
Goods/services transferred at a point in time$29,513 $10,750 $35,379 $7,561 $9,141 $92,344 
Goods/services transferred over time4,686 97,858 12,627 14,929 3,644 133,744 
$34,199 $108,608 $48,006 $22,490 $12,785 $226,088 
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 
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 customers in excess of revenue recognized to date.
The following table reflects the changes in our contract assets and liabilities:
July 27,
2024		April 27,
2024		Dollar
Change		Percent
Change
Contract assets$54,129 $55,800 $(1,671)(3.0)%
Contract liabilities - current71,782 65,524 6,258 9.6 
Contract liabilities - noncurrent17,378 16,342 1,036 6.3 
The changes in our contract assets and contract liabilities from April 27, 2024 to July 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 the three months ended July 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:
July 27,
2024
Balance as of April 27, 2024$32,159 
New contracts sold12,269 
Less: reductions for revenue recognized(10,188)
Foreign currency translation and other(485)
Balance as of July 27, 2024$33,755 
Contracts in progress identified as loss contracts as of July 27, 2024 and April 27, 2024 were immaterial. Loss provisions are recorded in the "Accrued expenses" line item in our condensed consolidated balance sheets.
During the three months ended July 27, 2024, we recognized revenue of $39,918 related to our contract liabilities as of April 27, 2024.
Remaining performance obligations
As of July 27, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations was $332,665. Remaining performance obligations related to product and service agreements as of July 27, 2024 were $267,207 and $65,458, respectively. We expect approximately $268,362 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 27, 2024 and July 29, 2023 was immaterial.