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REVENUE FROM CONTRACTS WITH CUSTOMERS
 12 Months Ended
Jan. 02, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
During fiscal years 2021, 2020 and 2019, we recognized revenue for sales of modules and components from contracts with customers of $783.3 million, $844.8 million and $1.2 billion, respectively. We recognize revenue for sales of modules and components at the point that control transfers to the customer, which typically occurs upon shipment or delivery to the customer, depending on the terms of the contract. Payment terms are typically between 30 and 45 days.
Contract Assets and Liabilities
Contract assets consist of unbilled receivables which represent revenue that has been recognized in advance of billing the customer and has been presented within “Prepaid expenses and other current assets” and “Other long-term assets”. During fiscal year 2021, the decrease in contract assets of $0.2 million was primarily due to billings of previously unbilled receivables. During fiscal year 2020, the increase in contract assets of $1.8 million was primarily due to projects revenue adjustments and shipments of products and services in advance of billings. Contract liabilities consist of deferred revenue and customer advances, which represent consideration received from a customer prior to transferring control of goods or services to the customer under the terms of a sales contract. During fiscal years 2021, the increase in contract liabilities of $49.2 million was primarily due to additional customer advances, partially offset by $22.6 million expected to be repaid to Total that was reclassified from “Contract liabilities, net of current portion” to “Other long-term liabilities” in our Consolidated Balance Sheets and utilization of contract liabilities previously recorded due to the completion of performance obligations. During fiscal year 2020, decrease in contract liabilities of $60.7 million was primarily due to completion of performance obligations. During fiscal years 2021 and 2020, we recognized revenue of $15.2 million and $56.6 million that was included in contract liabilities as of January 3, 2021 and December 29, 2019, respectively. Except for a contract with Total (refer to Note 3. Net Parent Investment and Transactions with Sunpower and TotalEnergies), there is no significant financing component for the contract assets and contract liabilities.