| Revenue Recognition Contract Balances
Contract balances as of December 28, 2024 and December 30, 2023 were as follows:
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(dollar amounts in millions) |
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Revenues in excess of billings at December 28, 2024 |
$ |
16.2 |
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Unbilled receivables at December 28, 2024 |
7.0 |
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Contract assets at December 28, 2024 |
$ |
23.2 |
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|
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Revenues in excess of billings at December 30, 2023 |
$ |
17.8 |
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Unbilled receivables at December 30, 2023 |
31.9 |
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Contract assets at December 30, 2023 |
$ |
49.7 |
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|
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Contract liabilities, December 28, 2024 |
$ |
17.9 |
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Contract liabilities, December 30, 2023 |
$ |
26.7 |
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During the year ended December 31, 2022, the Company recognized revenue of approximately $21.2 related to contract liabilities at January 1, 2022. During the year ended December 30, 2023, the Company recognized revenue of approximately $18.9 related to contract liabilities at December 31, 2022. During the year ended December 28, 2024, the Company recognized revenue of approximately $24.5 related to contract liabilities at December 30, 2023. All remaining performance obligations are expected to be satisfied within one year.
Disaggregation of Revenue
The principal categories we use to disaggregate revenues are by timing and sales channel of revenue recognition. The following disaggregation of revenues depicts the Company’s reportable segment revenues by timing and sales channel of revenue recognition for the years ended December 28, 2024, December 30, 2023, and December 31, 2022:
Revenue by Timing of Revenue Recognition
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(dollar amounts in millions) |
Year Ended |
Reportable segments by timing of revenue recognition |
December 28, 2024 |
|
December 30, 2023 |
|
December 31, 2022 |
Janus North America |
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|
|
|
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| Product revenues transferred at a point in time |
$ |
633.8 |
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|
$ |
742.7 |
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|
$ |
746.5 |
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| Product revenues transferred over time |
104.8 |
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|
122.4 |
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|
85.0 |
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| Service revenues transferred over time |
154.0 |
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|
120.6 |
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|
114.3 |
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|
$ |
892.6 |
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|
$ |
985.7 |
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|
$ |
945.8 |
|
Janus International |
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|
|
|
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Product revenues transferred at a point in time |
$ |
43.3 |
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|
$ |
46.3 |
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|
$ |
43.4 |
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Service revenues transferred over time |
30.3 |
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|
36.0 |
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|
32.1 |
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|
$ |
73.6 |
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|
$ |
82.3 |
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|
$ |
75.5 |
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| Eliminations |
$ |
(2.4) |
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|
$ |
(1.6) |
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|
$ |
(1.8) |
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Total revenue |
$ |
963.8
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|
|
$ |
1,066.4
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|
$ |
1,019.5
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Revenue by Sales Channel Revenue Recognition
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(dollar amounts in millions) |
Year Ended |
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Reportable Segments by Revenues Channel Revenue Recognition |
December 28, 2024 |
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December 30, 2023 |
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December 31, 2022 |
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Janus North America |
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|
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| Self Storage-New Construction |
$ |
354.0 |
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|
$ |
321.7 |
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|
$ |
266.1 |
|
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| Self Storage-R3 |
234.3 |
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|
325.8 |
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|
302.8 |
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| Commercial and Others |
304.3 |
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|
338.2 |
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|
376.9 |
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$ |
892.6 |
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|
$ |
985.7 |
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$ |
945.8 |
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Janus International |
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| Self Storage-New Construction |
$ |
62.2 |
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|
$ |
73.2 |
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|
$ |
57.2 |
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| Self Storage-R3 |
11.4 |
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|
9.1 |
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18.3 |
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|
$ |
73.6 |
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|
$ |
82.3 |
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|
$ |
75.5 |
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| Eliminations |
$ |
(2.4) |
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|
$ |
(1.6) |
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|
$ |
(1.8) |
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Total Revenues |
$ |
963.8
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|
$ |
1,066.4
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|
$ |
1,019.5
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