Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.22.2
Revenue
 6 Months Ended
Jul. 02, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
On July 2, 2022, we had $494.4 million of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately $278.0 million of our remaining performance obligations as revenue in the remainder of 2022.
We recognized $8.9 million and $11.3 million during the three months ended and $11.2 million and $14.4 million during the six months ended July 2, 2022 and July 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 six months ended July 2, 2022:
(In thousands) Contract Assets Contract Liabilities
Beginning Balance, January 1, 2022
 $ 25,941  $ 28,495 
Ending Balance, July 2, 2022
 $ 26,278  $ 27,748 
The following table presents our revenue disaggregated by Market Segments as follows:
Six Months Ended Three Months Ended
(In thousands) July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021
Aerospace Segment
Commercial Transport
 $ 133,332  $ 86,001  $ 69,243  $ 47,793 
Military
 28,873  37,783  13,897  16,801 
General Aviation
 33,997  29,022  18,130  14,994 
Other
 14,482  17,830  8,020  9,632 
Aerospace Total 210,684  170,636  109,290  89,220 
Test Systems Segment
Aerospace & Defense
 34,619  46,379  19,837  21,938 
Test Systems Total 34,619  46,379  19,837  21,938 
Total $ 245,303  $ 217,015  $ 129,127  $ 111,158 
The following table presents our revenue disaggregated by Product Lines as follows:
Six Months Ended Three Months Ended
(In thousands) July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021
Aerospace Segment
Electrical Power & Motion
 $ 86,602  $ 64,092  $ 42,135  $ 34,748 
Lighting & Safety
 60,599  51,468  31,388  24,368 
Avionics
 43,281  32,864  24,406  18,021 
Systems Certification
 2,671  1,838  1,669  960 
Structures
 3,049  2,544  1,672  1,491 
Other
 14,482  17,830  8,020  9,632 
Aerospace Total 210,684  170,636  109,290  89,220 
Test Systems 34,619  46,379  19,837  21,938 
Total $ 245,303  $ 217,015  $ 129,127  $ 111,158