v3.25.2
Deferred Revenue and Remaining Performance Obligations
 6 Months Ended
Jul. 04, 2025
Revenue Recognition and Deferred Revenue [Abstract]  
Deferred Revenue and Remaining Performance Obligations
NOTE 10. DEFERRED REVENUE AND REMAINING PERFORMANCE OBLIGATIONS
Deferred Revenue
Changes in our deferred revenue during the second quarter of 2025 and 2024 were as follows: 
  Second Quarter of First Two Quarters of
(In millions) 2025202420252024
Beginning balance of the period$892.8 $818.6 $896.0 $761.4 
Revenue recognized from prior year-end(218.5)(173.3)(546.0)(472.5)
Billings net of revenue recognized from current year and other
207.9 168.3 532.2 524.7 
Ending balance of the period$882.2 $813.6 $882.2 $813.6 
Remaining Performance Obligations
At the end of the second quarter of 2025, approximately $1.7 billion of revenue is expected to be recognized from remaining performance obligations for which goods or services have not been delivered, primarily subscription, software, and software maintenance, and to a lesser extent, hardware and professional services contracts. We expect to recognize $1.2 billion, approximately 70%, of our remaining performance obligations as revenue during the next 12 months and the remainder thereafter.