Revenues

9 Months Ended

Sep. 30, 2023

Revenues

Revenues

8. Revenues

The Company groups its products as Industrial & Commercial or Home & Life based on the target markets they address. The following represents revenue by product category (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,		October 1,		September 30,		October 1,
	2023		2022		2023		2022
Industrial & Commercial	$	120,957	$	145,661	$	436,973	$	416,475
Home & Life		82,803		124,156		258,440		350,306
	$	203,760	$	269,817	$	695,413	$	766,781

A portion of the Company’s sales are made to distributors under agreements allowing certain rights of return and/or price protection related to the final selling price to the end customers. These factors impact the timing and uncertainty of revenues and cash flows. During the three and nine months ended September 30, 2023, the Company did not recognize any revenue related to performance obligations that were satisfied in previous reporting periods. During the three and nine months ended October 1, 2022, the Company recognized revenue of $4.5 million and $30.7 million, respectively, from performance obligations that were satisfied in previous reporting periods. The following disaggregates the Company’s revenue by sales channel (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,		October 1,		September 30,		October 1,
	2023		2022		2023		2022
Distributors	$	164,444	$	217,355	$	556,963	$	621,563
Direct customers		39,316		52,462		138,450		145,218
	$	203,760	$	269,817	$	695,413	$	766,781