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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS
 9 Months Ended
Oct. 02, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

NOTE 3 — REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

The impact of ASC 606 on revenue recognized during the three and nine months ended October 2, 2021 and September 26, 2020 is as follows:

Three Months Ended

Nine Months Ended

October 2,

2021

September 26,

2020

October 2,

2021

September 26,

2020

Contract liabilities with customers at beginning of period

$—

$3,646

$84

$9,623

Revenue deferred

—

150

—

4,843

Revenue recognized

—

(2,593)

(84)

(13,263)

Contract liabilities with customers at end of period

$—

$1,203

$—

$1,203

As more fully described in the Revenue Recognition section of Note 2, the deferral of revenue and subsequent recognition thereof relates to certain of the Company’s sales promotion programs that include the future shipment of free products. The Company was not responsible for the shipment of any free products arising from such sales promotion programs as of October 2, 2021.

Practical Expedients and Exemptions

The Company has elected to account for shipping and handling activities that occur after control of the related product transfers to the customer as fulfillment activities that are recognized upon shipment of the goods.