Quarterly report pursuant to Section 13 or 15(d)

Revenue

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Revenue
 3 Months Ended
Mar. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
On March 30, 2024, we had $612.5 million of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately $563.1 million of our remaining performance obligations as revenue over the next twelve months and the balance thereafter.
We recognized $9.2 million and $14.1 million during the three months ended March 30, 2024 and April 1, 2023, 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 March 30, 2024:
(In thousands) Contract Assets Contract Liabilities
Beginning Balance, January 1, 2024
 $ 46,321  $ 22,888 
Ending Balance, March 30, 2024
 $ 49,849  $ 21,092 
The Company recognizes an asset for certain, material costs to fulfill a contract if it is determined that the costs relate directly to a contract or an anticipated contract that can be specifically identified, generate or enhance resources that will be used in satisfying performance obligations in the future, and are expected to be recovered. Such costs are amortized on a systematic basis that is consistent with the transfer to the customer of the goods to which the asset relates. Start-up costs are expensed as incurred. Capitalized fulfillment costs are included in Work in Progress within Inventories in the accompanying Consolidated Condensed Balance Sheets. Should future orders not materialize or it is determined the costs are no longer probable of recovery, the capitalized costs are written off. Capitalized fulfillment costs were $5.1 million and $4.7 million on March 30, 2024 and December 31, 2023, respectively. Amortization of fulfillment costs recognized within Cost of Products Sold was approximately $0.3 million for the three months ended March 30, 2024. No amortization of fulfillment costs was recorded in 2023.
The following table presents our revenue disaggregated by Market Segments as follows:
Three Months Ended
(In thousands) March 30, 2024 April 1, 2023
Aerospace Segment
Commercial Transport
 $ 121,430  $ 94,213 
Military Aircraft
 17,079  14,064 
General Aviation
 19,551  19,448 
Other
 5,578  7,872 
Aerospace Total 163,638  135,597 
Test Systems Segment
Government & Defense
 21,436  20,941 
Test Systems Total 21,436  20,941 
Total $ 185,074  $ 156,538 
The following table presents our revenue disaggregated by Product Lines as follows:
Three Months Ended
(In thousands) March 30, 2024 April 1, 2023
Aerospace Segment
Electrical Power & Motion
 $ 83,124  $ 53,454 
Lighting & Safety
 41,787  36,553 
Avionics
 25,594  29,741 
Systems Certification
 4,448  5,677 
Structures
 3,107  2,300 
Other
 5,578  7,872 
Aerospace Total 163,638  135,597 
Test Systems 21,436  20,941 
Total $ 185,074  $ 156,538