To provide visibility into our transition from older products to our newer, higher growth products and clarity into the dynamics of our product revenue, we group our products by “Strategic” and “Mature” solutions. As our product portfolio evolves, market dynamics change, and management continues to assess our largest growth opportunities, we periodically change how we group certain products. Beginning in fiscal 2020, Strategic includes All-flash FAS (AFF) products, including all related add-on hardware and operating system (OS) software, private cloud solutions (including SolidFire, converged and hyper-converged infrastructure products, StorageGrid), enterprise software license agreements (ELAs) and other optional add-on software products. Mature now includes Hybrid FAS products, including all related add-on hardware and OS software, original equipment manufacturers (OEM) products, and branded E-Series. Prior to this grouping change, Hybrid FAS products and branded E-Series were included in Strategic, while all add-on hardware and OS software were included in Mature. For comparability, Strategic and Mature revenues presented for the prior year periods have been recast based on the revised groupings.

In addition to the sale of our products and solutions, we provide a variety of services to our customers, including software maintenance, hardware maintenance and other services including professional services, global support solutions, and customer education and training.

The following table depicts the disaggregation of revenue by our products and services (in millions):

	Three Months Ended				Nine Months Ended
	January 24, 2020		January 25, 2019		January 24, 2020		January 25, 2019
Product revenues	$	787	$	967	$	2,202	$	2,755
Strategic	483		517			1,262		1,477
Mature	304		450			940		1,278
Software maintenance revenues	263		239		767		704
Hardware maintenance and other services revenues	354		357			1,042		1,095
Hardware maintenance support contracts	293		292		863			898
Professional and other services	61		65		179			197
Net revenues	$	1,404	$	1,563	$	4,011	$	4,554

Revenues by geographic region are presented in Note 15 – Segment, Geographic, and Significant Customer Information.

The following table summarizes the components of our deferred revenue and financed unearned services balance as reported in our condensed consolidated balance sheets (in millions):

	January 24, 2020		April 26, 2019
Deferred product revenue	$	73	$	84
Deferred services revenue		3,439		3,502
Financed unearned services revenue		61		82
Total	$	3,573	$	3,668


Reported as:
Short-term	$	1,795	$	1,825
Long-term		1,778		1,843
Total	$	3,573	$	3,668

Deferred product revenue represents unrecognized revenue related to undelivered product commitments and other product deliveries that have not met all revenue recognition criteria. Deferred services revenue represents customer payments made in advance for services, which include software and hardware maintenance contracts and other services. Financed unearned services revenue represents undelivered services for which cash has been received under certain third-party financing arrangements. See Note 16 – Commitments and Contingencies for additional information related to these arrangements.

The following tables summarize the activity related to deferred revenue and financed unearned services revenue (in millions):

	Nine Months Ended
	January 24, 2020			January 25, 2019
Balance at beginning of period	$	3,668		$	3,363
Additions		1,759			1,820
Revenue recognized during the period		(1,854	)		(1,826	)
Balance at end of period	$	3,573		$	3,357

During the nine months ended January 24, 2020 and January 25, 2019, we recognized $1,504 million and $1,410 million, respectively, that was included in the deferred revenue and financed unearned services revenue balance at the beginning of the respective periods.

As of January 24, 2020, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied was $3,573 million, which is equivalent to our deferred revenue and unearned services revenue balance. Because customer orders are typically placed on an as-needed basis, and cancellable without penalty prior to shipment, orders in backlog may not be a meaningful indicator of future revenue and have not been included in this amount. We expect to recognize as revenue approximately 50% of our deferred revenue and financed unearned services revenue balance in the next 12 months, approximately 25% in the next 13 to 24 months, and the remainder thereafter.

The following tables summarize the activity related to deferred commissions and their balances as reported in our condensed consolidated balance sheets (in millions):

	Nine Months Ended
	January 24, 2020			January 25, 2019
Balance at beginning of period	$	172		$	137
Additions		52			62
Expense recognized during the period		(72	)		(60	)
Balance at end of period	$	152		$	139

	January 24, 2020		April 26, 2019
Other current assets	$	64	$	75
Other non-current assets		88		97
Total deferred commissions	$	152	$	172