Customer-Funded Research & Development |
3 Months Ended |
---|---|
Aug. 02, 2025 | |
Customer-Funded Research & Development | |
Customer-Funded Research & Development | 13. Customer-Funded Research & Development Customer-funded R&D costs are incurred pursuant to contracts (revenue arrangements) to perform R&D activities according to customer specifications. These costs are direct contract costs and are expensed to cost of sales as costs are incurred. Revenue from customer-funded R&D contracts is recognized in accordance with ASC 606 over time as costs are incurred. Revenue from customer-funded R&D was approximately $60,847,000 for the three months ended August 2, 2025. Revenue from customer-funded R&D was approximately $18,559,000 for the three months ended July 27, 2024. |