Table:
|  |  | YearEnded |  |
| --- | --- | --- | --- |
|  | June 30, 2019 | June 24, 2018 | June 25, 2017 |
| Revenue (in millions) | $9,654 | $11,077 | $8,014 |
| Korea | 23% | 35% | 31% |
| China | 22% | 16% | 13% |
| Japan | 20% | 17% | 13% |
| Taiwan | 17% | 13% | 26% |
| UnitedStates | 8% | 7% | 8% |
| SoutheastAsia | 6% | 7% | 5% |
| Europe | 4% | 5% | 4% |
Paragraphs:
Results of Operations
Revenue
Revenue decreased in fiscal year 2019 compared to fiscal year 2018, but increased compared to fiscal year 2017, primarily as a result of the volatility of semiconductor capital investments by our customers. The overall Asia region continued to account for a majority of our revenues as a substantial amount of the worldwide capacity investments for semiconductor manufacturing continued to occur in this region.
Our deferred revenue balance was $449 million as of June 30, 2019, compared to $994 million as of June 24, 2018. The deferred revenue at the end of June 2019 is recognized under Accounting Standard Codification (“ASC”) 606, while the same values as of June 2018 are recognized under ASC 605, which contributes to the change in value period over period. Our deferred revenue balance does not include shipments to customers in Japan, to whom title does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of customer acceptance. The anticipated future revenue value from shipments to customers in Japan was approximately $78 million as of June 30, 2019, compared to $607 million as of June 24, 2018.
Question:
What is the percentage change in the deferred revenue balance from 2018 to 2019?
Answer: (449-994)/994 = -54.83