Revenue Recognition

6 Months Ended

Jul. 04, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands):

	Three-months Ended				Six-months Ended
	July 4, 2021		June 28, 2020		July 4, 2021		June 28, 2020
Americas	$	108,418	$	68,966	$	216,254	$	129,214
Europe	59,967		35,987		117,015		84,569
Greater China	59,706		31,898		97,944		58,301
Other Asia	41,067		32,246		76,972		64,248
	$	269,158	$	169,097	$	508,185	$	336,332

The following table summarizes disaggregated revenue information by revenue type (in thousands):

	Three-months Ended				Six-months Ended
	July 4, 2021		June 28, 2020		July 4, 2021		June 28, 2020
Standard products and services	$	234,322	$	158,807	$	456,648	$	311,662
Application-specific customer solutions	34,836		10,290		51,537		24,670
	$	269,158	$	169,097	$	508,185	$	336,332

Costs to Fulfill a Contract

Costs to fulfill a contract are included in "Prepaid expenses and other current assets" on the Consolidated Balance Sheet and amounted to $25,328,000 and $6,846,000 as of July 4, 2021 and December 31, 2020, respectively.

Accounts Receivable, Contract Assets, and Contract Liabilities

Accounts receivable represent amounts billed and currently due from customers which are reported at their net estimated realizable value. The Company maintains an allowance against its accounts receivable for credit losses. Contract assets consist of unbilled revenue which arises when revenue is recognized in advance of billing for certain application-specific customer solutions contracts. Contract liabilities consist of deferred revenue and customer deposits which arise when amounts are billed to or collected from customers in advance of revenue recognition.

The following table summarizes the allowance for credit losses activity for the six-month period ended July 4, 2021 (in thousands):

Balance as of December 31, 2020	$	831
Increases to the allowance for credit losses	—
Write-offs, net of recoveries	(28)
Foreign exchange rate changes	—
Balance as of July 4, 2021	$	803

The following table summarizes the deferred revenue and customer deposits activity for the six-month period ended July 4, 2021 (in thousands):

Balance as of December 31, 2020	$	21,274
Deferral of revenue billed in the current period, net of recognition	69,372
Recognition of revenue deferred in prior period	(14,155)
Foreign exchange rate changes	(46)
Balance as of July 4, 2021	$	76,445

As a practical expedient, the Company has elected not to disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations, as our contracts have an original expected duration of less than one year.