XML 44 R33.htm IDEA: XBRL DOCUMENT v3.24.1.u1
REVENUES (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Contract Asset
The following table summarizes our contract assets:
(in millions)March 31,
2024		December 31,
2023
Contract manufacturing services$7 $5 
Software sales41 44 
Bundled equipment and consumable medical products contracts108 117 
Contract assets$156 $166 
The following table summarizes contract liability activity for the three months ended March 31, 2024 and 2023. The contract liability balance represents the transaction price allocated to the remaining performance obligations.
Three Months Ended March 31,
(in millions)
2024
2023
Balance at beginning of period$194 $194 
New revenue deferrals116 115 
Revenue recognized upon satisfaction of performance obligations(114)(120)
Currency translation1 1 
Balance at end of period$197 $190 
For the three months ended March 31, 2024 and 2023, $48 million and $65 million of revenue was recognized that was included in contract liabilities as of December 31, 2023 and 2022, respectively.
The following table summarizes the classification of contract assets and contract liabilities as reported in the condensed consolidated balance sheets:
(in millions)March 31,
2024		December 31,
2023
Prepaid expenses and other current assets$53 $53 
Other non-current assets103 113 
Contract assets$156 $166 
Accrued expenses and other current liabilities$155 $148 
Other non-current liabilities42 46 
Contract liabilities$197 $194 
Sales-type Lease, Lease Income
The components of lease revenue for the three months ended March 31, 2024 and 2023 were:
Three Months Ended March 31,
(in millions)20242023
Sales-type lease revenue$3 $4 
Operating lease revenue144 124 
Variable lease revenue16 15 
Total lease revenue$163 $143 
Operating Lease, Lease Income
The components of lease revenue for the three months ended March 31, 2024 and 2023 were:
Three Months Ended March 31,
(in millions)20242023
Sales-type lease revenue$3 $4 
Operating lease revenue144 124 
Variable lease revenue16 15 
Total lease revenue$163 $143