Revenue

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

REVENUEThe Company recognizes revenue from the sale of manufactured products and services when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

Disaggregation of Revenues

Beginning in the second quarter of 2020, sales were moved within product and service offering categories to reflect a strategic realignment within the Company's matrix organizational structure. Comparative results for the three months ended March 31, 2020 have been adjusted to reflect this modification. Additionally, product and service offering category names were revised as follows: Services & software solutions changed to Service & spares, and I.T. edge & infrastructure changed to Integrated rack solutions. There was no change in the description of the Critical infrastructure & solutions offering.

The following table disaggregates our revenue by business segment, product and service offering and timing of transfer of control:

	Three months ended March 31, 2021
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Critical infrastructure & solutions	$	279.2	$	216.3	$	132.4	$	627.9
Services & spares	154.2		95.5		72.1		321.8
Integrated rack solutions	68.1		45.6		35.0		148.7
Total	$	501.5	$	357.4	$	239.5	$	1,098.4
Timing of revenue recognition:
Products and services transferred at a point in time	$	360.5	$	281.6	$	195.0	$	837.1
Products and services transferred over time	141.0		75.8		44.5		261.3
Total	$	501.5	$	357.4	$	239.5	$	1,098.4

	Three months ended March 31, 2020
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering: (1)
Critical infrastructure & solutions	$	239.8	$	116.3	$	105.4	$	461.5
Services & spares	161.6		79.3		65.4		306.3
Integrated rack solutions	65.3		28.3		35.9		129.5
Total	$	466.7	$	223.9	$	206.7	$	897.3
Timing of revenue recognition:
Products and services transferred at a point in time	$	313.2	$	160.9	$	165.8	$	639.9
Products and services transferred over time	153.5		63.0		40.9		257.4
Total	$	466.7	$	223.9	$	206.7	$	897.3

(1)Comparative results for Critical infrastructure & solutions, Services & spares and Integrated rack solutions for the three months ended March 31, 2020 have been adjusted by $(37.9), $3.7, and $34.2, respectively, to reflect the strategic realignment described above.

The opening and closing balances of our current and long-term contract assets and current and long-term deferred revenue are as follows:

	Balances at March 31, 2021		Balances at December 31, 2020
Deferred revenue - current (2)	$	232.6	$	199.6
Deferred revenue - noncurrent (3)	40.8		38.8
Other contract liabilities - current (2)	41.2		36.1

(2)Current deferred revenue and contract liabilities are included within accrued expenses and other liabilities.

(3)Noncurrent deferred revenue is recorded within other long-term liabilities.

Deferred revenue consists primarily of maintenance, extended warranty and other service contracts. We expect to recognize revenue of $16.6, $12.3 and $11.9 in fiscal year 2022, fiscal year 2023, and thereafter, respectively.