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Note 2 - Revenue
 3 Months Ended
Dec. 26, 2021
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

2

REVENUE

 

The following table presents our revenue disaggregated by source:

                 
   

December 26,

    

December 27,

  

(Thousands of Dollars)

  

2021

    

2020

  
                 

Operating revenue:

                

Print

     55,970       66,614  

Digital

     42,784       36,015  

Advertising and marketing services revenue

     98,754       102,629  

Print

     79,628       85,033  

Digital

     7,891       6,276  

Subscription revenue

     87,519       91,309  

Print

     11,385       13,064  

Digital

     4,624       4,815  

Other revenue

     16,009       17,879  

Total operating revenue

     202,282       211,817  

 

Recognition principles: Revenue is recognized when a performance obligation is satisfied by the transfer of control of the contracted goods or services to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services.

 

Total Digital Revenue in the prior year was reclassified to conform to the current year presentation. Total Digital Revenue is defined as digital advertising and marketing services revenue (including Amplified), digital-only subscription revenue and digital services revenue. Previously other digital subscription revenue was included. All periods have been restated for the reclassification.

 

Arrangements with multiple performance obligations: We have various advertising and subscription agreements which include both print and digital performance obligations. Revenue from sales agreements that contain multiple performance obligations are allocated to each obligation based on the relative standalone selling price. We determine standalone selling prices based on observable prices charged to customers.

 

 

Contract Assets and Liabilities: The Company’s primary source of contract liabilities is unearned revenue from subscriptions paid in advance of the service provided. The Company expects to recognize the revenue related to unsatisfied performance obligations over the next twelve months in accordance with the terms of the subscriptions and other contracts with customers. Revenue recognized in the quarter ended December 26, 2021 that was included in the contract liability as of September 26, 2021 was $36,347,000.

 

Accounts receivable, excluding allowance for credit losses was $80,375,000 and $71,644,000 as of December 26, 2021 and September 26, 2021, respectively. Allowance for credit losses was $7,182,000 and $6,574,000 as of December 26, 2021 and September 26, 2021, respectively.

 

Sales commissions are expensed as incurred as the associated contractual periods are one year or less. These costs are recorded within compensation. The vast majority of our contracts have original expected lengths of one year or less and revenue is earned at a rate and amount that corresponds directly with the value to the customer.