REVENUE

3 Months Ended

Sep. 26, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Deferred Revenue

Revenue of $565.7 million included in deferred revenue as of June 27, 2021 was recognized during the three months ended September 26, 2021.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 26, 2021 and when the Company expects to recognize the amounts as revenue:

	Less than 1 Year		1-3 Years			More than 3 Years		Total
	(In thousands)
Deferred revenue	$	951,080	$	158,546	(1)	$	—	$	1,109,626

(1) This amount is reported in Deferred profit on the Company's Condensed Consolidated Balance Sheets as the customers can demand the liability to be performed at any time.

Disaggregation of Revenue

The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution.

The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located. The Company serves three primary markets: memory, foundry, and logic/integrated device manufacturing.

The following table presents the Company’s revenues disaggregated between system and its customer support-related revenue:

	Three Months Ended
	September 26, 2021		September 27, 2020
	(In thousands)
System revenue	$	2,924,883	$	2,148,241
Customer support-related revenue and other	1,379,582		1,028,839
	$	4,304,465	$	3,177,080

System revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from the Company’s Reliant product line.

The following table presents the Company’s revenues disaggregated by geographic region:

	Three Months Ended
	September 26, 2021		September 27, 2020
	(In thousands)
China	$	1,607,710	$	1,174,669
Korea	918,137		756,257
Taiwan	638,066		446,091
Japan	468,731		392,526
Southeast Asia	365,248		203,339
United States	228,211		137,892
Europe	78,362		66,306
	$	4,304,465	$	3,177,080

The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves:

	Three Months Ended
	September 26, 2021		September 27, 2020
Memory	64	%	58	%
Foundry	25	%	36	%
Logic/integrated device manufacturing	11	%	6	%