v3.25.3
Revenue Recognition
 9 Months Ended
Sep. 27, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition
2 Revenue Recognition
The Company’s deferred revenue liabilities in the consolidated balance sheets consist of the obligation on instrument service contracts and customer payments received in advance, prior to transfer of control of the instrument. The Company records deferred revenue primarily related to its service contracts, where consideration is billable at the beginning of the service period.
The following is a summary of the activity of the Company’s deferred revenue and customer advances for the nine months ended September 27, 2025 and September 28, 2024 (in thousands):
 
    
September 27,
2025
     
September 28,
2024
  
Balance at the beginning of the period
    $ 320,046      $ 323,516  
Recognition of revenue included in balance at beginning of the period
      (248,970 )       (242,302 ) 
Revenue deferred during the period, net of revenue recognized
      310,445        276,515  
  
 
 
     
 
 
  
Balance at the end of the period
    $ 381,521      $ 357,729  
  
 
 
     
 
 
  
The Company classified $80 million and $69 million of deferred revenue and customer advances in other long-term liabilities at September 27, 2025 and December 31, 2024, respectively.
The amount of unfulfilled performance obligations as of September 27, 2025, and the time such amounts are expected to be recognized in the future, is as follows (in thousands):
 
    
September 27, 2025
  
Unfulfilled performance obligations expected to be recognized in:
   
One year or less
    $ 311,609  
13-
24
months
      41,867  
25 months and beyond
      38,312  
  
 
 
  
Total
    $ 391,788