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REVENUE (Tables) | 12 Months Ended
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Jun. 29, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Contract Assets | The following table summarizes the activity in the Company’s contract assets during the twelve months ended June 29, 2024 (in thousands):
| Contract Assets
Beginning balance, July 1, 2023 | $ | 29,925 |
Revenue recognized | 497,348 |
Amounts collected or invoiced | (506,023) |
Ending balance, June 29, 2024 | $ | 21,250 |
The following table summarizes the activity in the Company’s contract assets during the twelve months ended July 1, 2023 (in thousands):
| Contract Assets
Beginning balance, July 2, 2022 | $ | 21,974 |
Revenue recognized | 590,624 |
Amounts collected or invoiced | (582,673) |
Ending balance, July 1, 2023 | $ | 29,925 |
The following table summarizes the activity in the Company’s contract assets during the twelve months ended July 2, 2022 (in thousands):
| Contract Assets
Beginning balance, July 3, 2021 | $ | 24,781 |
Revenue recognized | 528,204 |
Amounts collected or invoiced | (531,011) |
Ending balance, July 2, 2022 | $ | 21,974 |
Schedule of Disaggregation of Revenue | The following table presents the Company’s revenue disaggregated for the twelve months ended June 29, 2024, the twelve months ended July 1, 2023, and the twelve months ended July 2, 2022 (in thousands):
|  | Revenue
Recognition |  | June 29, 2024 |  | July 1, 2023 (Restated) |  | July 2, 2022 (Restated)
Over-Time |  | $ | 497,348 |  |  | $ | 590,624 |  |  | $ | 528,193 |
Point-in-Time |  | 69,594 |  |  | 14,691 |  |  | 15,984 |
Total |  | $ | 566,942 |  |  | $ | 605,315 |  |  | $ | 544,177 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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