XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Revenue Recognition and Contracts with Customers
 3 Months Ended
Mar. 30, 2024
Revenue Recognition and Contracts with Customers [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 months ended March 30, 2024 and April 1, 2023 is as follows:

 

   Three Months Ended 
   March 30, 2024   April 1, 2023 
         
Contract liabilities with customers at beginning of period  $149   $1,031 
           
Revenue deferred   
—
    201 
           
Revenue recognized   (119)   (119)
           
Contract liabilities with customers at end of period  $30   $1,113 

 

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 expects the remaining deferred revenue from this contract liability with customers to be recognized in the second quarter of 2024.

 

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.