Deferred Revenue and Remaining Performance

12 Months Ended

Jan. 03, 2020

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue and Remaining Obligations

DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS

Deferred Revenue

Changes in the Company’s deferred revenue during fiscal 2019 and 2018 are as follows: 

Fiscal Years	2019			2018
(In millions)
Beginning balance of the period	$	387.2		$	276.6
Revenue recognized	(341.3		)	(226.9		)
Acquired deferred revenue	6.1			50.3
Net deferred revenue activity	489.9			287.2
Ending balance of the period	$	541.9		$	387.2

Remaining Performance Obligations

As of the end of fiscal 2019, approximately $1.2 billion of revenue is expected to be recognized from remaining performance obligations for which goods or services have not been delivered, primarily hardware, subscription, software maintenance, 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.