Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.22.1
Revenue
 3 Months Ended
Apr. 02, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
On April 2, 2022, we had $475.1 million of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately $364.3 million of our remaining performance obligations as revenue in the remainder of 2022.
We recognized $6.0 million and $8.3 million during the three months ended April 2, 2022 and April 3, 2021, respectively, in revenues that were included in the contract liability balance at the beginning of the period.
The Company's contract assets and contract liabilities consist primarily of costs and profits in excess of billings and billings in excess of cost and profits, respectively. The following table presents the beginning and ending balances of contract assets and contract liabilities during the three months ended April 2, 2022:
(In thousands) Contract Assets Contract Liabilities
Beginning Balance, January 1, 2022
 $ 25,941  $ 28,495 
Ending Balance, April 2, 2022
 $ 29,841  $ 28,214 
The following table presents our revenue disaggregated by Market Segments as follows:
Three Months Ended
(In thousands) April 2, 2022 April 3, 2021
Aerospace Segment
Commercial Transport
 $ 64,089  $ 38,208 
Military
 14,976  20,982 
Business Jet
 15,867  14,028 
Other
 6,462  8,198 
Aerospace Total 101,394  81,416 
Test Systems Segment
Aerospace & Defense
 14,782  24,441 
Test Systems Total 14,782  24,441 
Total $ 116,176  $ 105,857 
The following table presents our revenue disaggregated by Product Lines as follows:
Three Months Ended
(In thousands) April 2, 2022 April 3, 2021
Aerospace Segment
Electrical Power & Motion
 $ 44,467  $ 29,344 
Lighting & Safety
 29,211  27,100 
Avionics
 18,875  14,843 
Systems Certification
 1,002  878 
Structures
 1,377  1,053 
Other
 6,462  8,198 
Aerospace Total 101,394  81,416 
Test Systems 14,782  24,441 
Total $ 116,176  $ 105,857