REVENUE RECOGNITION |
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| REVENUE RECOGNITION | (2) REVENUE RECOGNITION Contract Assets and Liabilities Contract assets are recognized as revenue is earned over time and are reduced when the customer is invoiced. As of September 26, 2026 and December 27, 2025, the Company’s contract assets totaled $303,996 and $266,922, respectively, and were recorded as “Contract assets” in the Condensed Consolidated Balance Sheets. Certain customers are invoiced through advance or progress billings. When the progress toward performance obligations is less than the amount billed to the customer, the excess is recorded as a contract liability. As of September 26, 2026, total contract liabilities were $65,240, with $64,911 recorded as “Contract liabilities” and $329 as “Other non-current liabilities” in the Condensed Consolidated Balance Sheets. As of December 27, 2025, total contract liabilities were $52,475, with $52,013 recorded as “Contract liabilities” and $462 as “Other non-current liabilities” in the Condensed Consolidated Balance Sheets. During the thirteen and thirty-nine weeks ended September 26, 2026, the Company recognized $5,520 and $44,706 in revenue, respectively, from amounts included in contract liabilities as of December 27, 2025. During the thirteen and thirty-nine weeks ended September 27, 2025, the Company recognized $44,525 and $101,468 from amounts included in contract liabilities as of December 28, 2024. This revenue reflects advance payments applied to performance obligations completed during the respective periods. As of September 26, 2026, the Company had $329 in remaining performance obligations on contracts with an original expected duration of one year or more, which the Company expects to recognize as revenue within the next 12 to 36 months. Disaggregated Revenue A breakdown of revenue recognized over time and at a point in time by segment for the thirteen and thirty-nine weeks ended September 26, 2026 and September 27, 2025 is as follows:
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