Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

5)Revenue from Contracts with Customers

Contract assets as of December 31, 2022 and 2021 were $46 and $4, respectively, and were included in other current assets. The increase is attributable to the Atotech Acquisition.

A roll forward of the Company’s deferred revenue and customer advances is as follows:

	2022			2021
Beginning balance, January 1(1)	$	40		$	37
Assumed deferred revenue and customer advances from Atotech Acquisition		36			—
Additions to deferred revenue and customer advances		180			172
Amount of deferred revenue and customer advances recognized in income		(160	)		(169	)
Ending balance, December 31(2)	$	96		$	40

(1)Beginning deferred revenue and customer advances as of January 1, 2022 included $16 of current deferred revenue, $3 of long-term deferred revenue and $21 of current customer advances. Beginning deferred revenue and customer advances as of January 1, 2021 included $18 of current deferred revenue, $6 of long-term deferred revenue and $13 of current customer advances. The majority of the beginning balance in 2022 and 2021 was recognized in each year.

(2)Ending deferred revenue and customer advances as of December 31, 2022 included $15 of current deferred revenue, $2 of long-term deferred revenue and $79 of current customer advances. Ending deferred revenue and customer advances as of December 31, 2021 included $16 of current deferred revenue, $3 of long-term deferred revenue and $21 of current customer advances.

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers:

	Year Ended December 31, 2022
	VSD		PSD		MSD		Total
Net revenues:
Products	$	1,720	$	913	$	486	$	3,119
Services		246		151		31		428
Total net revenues	$	1,966	$	1,064	$	517	$	3,547

	Year ended December 31, 2021
	VSD		PSD		MSD		Total
Net revenues:
Products	$	1,629	$	950	$	—	$	2,579
Services		233		138		—		371
Total net revenues	$	1,862	$	1,088	$	—	$	2,950

	Year Ended December 31, 2020
	VSD		PSD		MSD		Total
Net revenues:
Products	$	1,222	$	793	$	—	$	2,015
Services		184		131		—		315
Total net revenues	$	1,406	$	924	$	—	$	2,330

Refer to Note 20 for revenue by reportable segment, geography and groupings of similar products.