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Other Current Assets
 12 Months Ended
Jun. 28, 2020
Other Assets Current [Abstract]  
Other Current Assets

8. Other Current Assets

Other current assets consists of the following:

 

 

 

June 28, 2020

 

 

June 30, 2019

 

Contract assets

 

$

4,953

 

 

$

7,794

 

Value-added taxes receivable

 

 

2,604

 

 

 

2,519

 

Vendor deposits

 

 

2,349

 

 

 

4,187

 

Prepaid expenses

 

 

1,857

 

 

 

1,856

 

Total other current assets

 

$

11,763

 

 

$

16,356

 

 

Contract assets represents the estimated revenue attributable to UNIFI in connection with completed performance obligations under contracts with customers for which revenue is recognized over time. The contract assets are classified to receivables when the right to payment becomes unconditional. Value-added taxes receivable relates to recoverable taxes associated with the sales and purchase activities of UNIFI’s foreign operations. Vendor deposits primarily relates to down payments made toward the purchase of inventory. Prepaid expenses consists of advance payments for routine operating expenses.