Revenue

6 Months Ended

Jul. 02, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

On July 2, 2022, we had $494.4 million of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately $278.0 million of our remaining performance obligations as revenue in the remainder of 2022.

We recognized $8.9 million and $11.3 million during the three months ended and $11.2 million and $14.4 million during the six months ended July 2, 2022 and July 3, 2021, respectively, in revenues that were included in the contract liability balance at the beginning of the period.

The Company's contract assets and contract liabilities consist primarily of costs and profits in excess of billings and billings in excess of cost and profits, respectively. The following table presents the beginning and ending balances of contract assets and contract liabilities during the six months ended July 2, 2022:

(In thousands)	Contract Assets		Contract Liabilities
Beginning Balance, January 1, 2022	$	25,941	$	28,495
Ending Balance, July 2, 2022	$	26,278	$	27,748

The following table presents our revenue disaggregated by Market Segments as follows:

	Six Months Ended				Three Months Ended
(In thousands)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Aerospace Segment
Commercial Transport	$	133,332	$	86,001	$	69,243	$	47,793
Military	28,873		37,783		13,897		16,801
General Aviation	33,997		29,022		18,130		14,994
Other	14,482		17,830		8,020		9,632
Aerospace Total	210,684		170,636		109,290		89,220
Test Systems Segment
Aerospace & Defense	34,619		46,379		19,837		21,938
Test Systems Total	34,619		46,379		19,837		21,938
Total	$	245,303	$	217,015	$	129,127	$	111,158

The following table presents our revenue disaggregated by Product Lines as follows:

	Six Months Ended				Three Months Ended
(In thousands)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Aerospace Segment
Electrical Power & Motion	$	86,602	$	64,092	$	42,135	$	34,748
Lighting & Safety	60,599		51,468		31,388		24,368
Avionics	43,281		32,864		24,406		18,021
Systems Certification	2,671		1,838		1,669		960
Structures	3,049		2,544		1,672		1,491
Other	14,482		17,830		8,020		9,632
Aerospace Total	210,684		170,636		109,290		89,220
Test Systems	34,619		46,379		19,837		21,938
Total	$	245,303	$	217,015	$	129,127	$	111,158