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Revenue Recognition | 9 Months Ended
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Sep. 28, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition Deferred contract assets and deferred contract liabilities are included in the condensed consolidated balance sheets as follows (in thousands):
| September 28, 2024 |  | December 30, 2023
Deferred contract assets included in: |  |  |
Other current assets | $30,329 |  | $28,567
Other non-current assets | 50,981 |  | 54,795
| $81,310 |  | $83,362
| September 28, 2024 |  | December 30, 2023
Deferred contract liabilities included in: |  |  |
Other current liabilities | $38,395 |  | $36,421
Other non-current liabilities | 63,594 |  | 69,098
| $101,989 |  | $105,519
Deferred revenue and costs related to SleepIQ® technology are currently recognized on a straight-line basis over the product's estimated life of 4.5 to 5.0 years because the Company’s inputs are generally expended evenly throughout the performance period. During both the three months ended September 28, 2024 and September 30, 2023, the Company recognized revenue of $10 million, that was included in the deferred contract liability balances at the beginning of the respective periods. During both the nine months ended September 28, 2024 and September 30, 2023, the Company recognized revenue of $28 million, that was included in the deferred contract liability balances at the beginning of the respective periods. Revenue from goods and services transferred to customers at a point in time accounted for a pproximate ly 98% of revenues for both the three and nine months ended September 28, 2024 and September 30, 2023. Net sales were as follows (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Retail stores | $374,593 |  | $409,268 |  | $1,147,931 |  | $1,270,076
Online, phone, chat and other | 52,024 |  | 63,380 |  | 157,548 |  | 187,888
Total Company | $426,617 |  | $472,648 |  | $1,305,479 |  | $1,457,964
Obligation for Sales Returns The activity in the sales returns liability account was as follows (in thousands):
| Nine Months Ended
| September 28, 2024 |  | September 30, 2023
Balance at beginning of year | $22,402 |  | $25,594
Additions that reduce net sales | 69,391 |  | 82,718
Deductions from reserves | (72,105) |  | (85,300)
Balance at end of period | $19,688 |  | $23,012

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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