Deferred Revenue And Performance Obligations

9 Months Ended

Sep. 27, 2019

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue Disclosure [Text Block]

DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS

Deferred Revenue

Changes in the Company’s deferred revenue during the third quarter of fiscal 2019 and 2018 were as follows: 

	Third Quarter of						First Three Quarters of
(In millions)	2019			2018			2019			2018
Beginning balance of the period	$	452.4		$	356.2		$	387.2		$	276.6
Revenue recognized	(76.7		)	(41.5		)	(300.5		)	(201.7		)
Acquired deferred revenue	1.5			26.6			1.5			50.3
Net deferred revenue activity	41.8			23.0			330.8			239.1
Ending balance of the period	$	419.0		$	364.3		$	419.0		$	364.3

Remaining Performance Obligations

As of the end of the third quarter of fiscal 2019, approximately $1.1 billion of revenue is expected to be recognized from remaining performance obligations for which goods or services have not been delivered, primarily subscription and software maintenance, and to a lesser extent, hardware and professional services contracts. The Company expects to recognize revenue of approximately 71% and 17% on these remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.