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Revenue Recognition
 6 Months Ended
Oct. 26, 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 October 26, 2024
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$9,506 $57,289 $8,284 $13,046 $4,392 $92,517 
Limited configuration27,838 11,640 36,246 6,924 11,455 94,103 
Service and other6,095 8,278 3,541 1,508 2,289 21,711 
$43,439 $77,207 $48,071 $21,478 $18,136 $208,331 
Timing of revenue recognition
Goods/services transferred at a point in time$30,728 $15,167 $36,523 $7,820 $12,919 $103,157 
Goods/services transferred over time12,711 62,040 11,548 13,658 5,217 105,174 
$43,439 $77,207 $48,071 $21,478 $18,136 $208,331 
Six Months Ended October 26, 2024
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$11,768 $151,607 $18,918 $27,582 $7,006 $216,881 
Limited configuration54,138 19,934 71,394 13,533 19,527 178,526 
Service and other11,732 14,274 5,765 2,853 4,388 39,012 
$77,638 $185,815 $96,077 $43,968 $30,921 $434,419 
Timing of revenue recognition
Goods/services transferred at a point in time$60,241 $25,917 $71,902 $15,381 $22,060 $195,501 
Goods/services transferred over time17,397 159,898 24,175 28,587 8,861 238,918 
$77,638 $185,815 $96,077 $43,968 $30,921 $434,419 
Three Months Ended October 28, 2023
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$9,511 $47,496 $11,539 $11,047 $9,993 $89,586 
Limited configuration28,752 13,771 36,277 8,469 7,302 94,571 
Service and other4,190 6,943 1,126 727 2,226 15,212 
$42,453 $68,210 $48,942 $20,243 $19,521 $199,369 
Timing of revenue recognition
Goods/services transferred at a point in time$29,379 $15,390 $34,722 $8,592 $7,919 $96,002 
Goods/services transferred over time13,074 52,820 14,220 11,651 11,602 103,367 
$42,453 $68,210 $48,942 $20,243 $19,521 $199,369 
Six Months Ended October 28, 2023
CommercialLive Events
High School
Park and Recreation
TransportationInternationalTotal
Type of performance obligation
Unique configuration$22,429 $124,043 $26,658 $23,631 $18,783 $215,544 
Limited configuration58,665 23,732 76,614 16,536 12,541 188,088 
Service and other8,242 12,434 1,904 1,445 4,243 28,268 
$89,336 $160,209 $105,176 $41,612 $35,567 $431,900 
Timing of revenue recognition
Goods/services transferred at a point in time$60,397 $26,167 $73,803 $16,859 $13,762 $190,988 
Goods/services transferred over time28,939 134,042 31,373 24,753 21,805 240,912 
$89,336 $160,209 $105,176 $41,612 $35,567 $431,900 
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:
October 26,
2024		April 27,
2024		Dollar
Change		Percent
Change
Contract assets$44,955 $55,800 $(10,845)(19.4)%
Contract liabilities - current62,458 65,524 (3,066)(4.7)
Contract liabilities - noncurrent18,330 16,342 1,988 12.2 
The changes in our contract assets and contract liabilities from April 27, 2024 to October 26, 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 six months ended October 26, 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:
October 26,
2024
Balance as of April 27, 2024$32,159 
New contracts sold26,007 
Less: reductions for revenue recognized(21,737)
Foreign currency translation and other(142)
Balance as of October 26, 2024$36,287 
Contracts in progress identified as loss contracts as of October 26, 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 six months ended October 26, 2024, we recognized revenue of $52,024 related to our contract liabilities as of April 27, 2024.
Remaining performance obligations
As of October 26, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations was $301,525. Remaining performance obligations related to product and service agreements as of October 26, 2024 were $235,982 and $65,543, respectively. We expect approximately $240,423 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 six months ended October 26, 2024 and October 28, 2023 was immaterial.