REVENUE

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

(3) REVENUE

The 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 receive in exchange for those goods or services.

Disaggregation of Revenues

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

	Three months ended September 30, 2023
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Critical infrastructure & solutions	$	670.8	$	244.3	$	223.2	$	1,138.3
Services & spares	206.2		103.1		84.0		393.3
Integrated rack solutions	126.2		41.2		43.6		211.0
Total	$	1,003.2	$	388.6	$	350.8	$	1,742.6
Timing of revenue recognition:
Products and services transferred at a point in time	$	772.8	$	296.0	$	210.4	$	1,279.2
Products and services transferred over time	230.4		92.6		140.4		463.4
Total	$	1,003.2	$	388.6	$	350.8	$	1,742.6

	Three months ended September 30, 2022
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Critical infrastructure & solutions	$	417.3	$	265.7	$	224.3	$	907.3
Services & spares	203.6		113.3		71.1		388.0
Integrated rack solutions	91.7		57.1		37.0		185.8
Total	$	712.6	$	436.1	$	332.4	$	1,481.1
Timing of revenue recognition:
Products and services transferred at a point in time	$	492.7	$	343.4	$	231.8	$	1,067.9
Products and services transferred over time	219.9		92.7		100.6		413.2
Total	$	712.6	$	436.1	$	332.4	$	1,481.1

	Nine months ended September 30, 2023
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Critical infrastructure & solutions	$	1,868.2	$	646.9	$	699.1	$	3,214.2
Services & spares	602.5		317.3		248.3		1,168.1
Integrated rack solutions	354.2		133.2		128.1		615.5
Total	$	2,824.9	$	1,097.4	$	1,075.5	$	4,997.8
Timing of revenue recognition:
Products and services transferred at a point in time	$	2,164.2	$	830.6	$	716.1	$	3,710.9
Products and services transferred over time	660.7		266.8		359.4		1,286.9
Total	$	2,824.9	$	1,097.4	$	1,075.5	$	4,997.8

	Nine months ended September 30, 2022
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Critical infrastructure & solutions	$	1,080.5	$	692.5	$	642.6	$	2,415.6
Services & spares	555.9		330.8		208.0		1,094.7
Integrated rack solutions	258.5		152.8		115.3		526.6
Total	$	1,894.9	$	1,176.1	$	965.9	$	4,036.9
Timing of revenue recognition:
Products and services transferred at a point in time	$	1,323.3	$	909.5	$	681.9	$	2,914.7
Products and services transferred over time	571.6		266.6		284.0		1,122.2
Total	$	1,894.9	$	1,176.1	$	965.9	$	4,036.9

The opening and closing balances of current and long-term deferred revenue as of September 30, 2023 and December 31, 2022 were as follows:

	Balances at September 30, 2023		Balances at December 31, 2022
Deferred revenue - current	$	543.3	$	358.7
Deferred revenue - noncurrent (1)	55.9		49.5

(1)    Noncurrent deferred revenue is recorded within “Other long-term liabilities” on the Unaudited Condensed Consolidated Balance Sheets.

Deferred revenue - noncurrent consists primarily of maintenance, extended warranty and other service contracts. The Company expects to recognize noncurrent deferred revenue of $31.1, $14.4 and $10.4 in the next 13 to 24 months, the next 25 to 36 months, and thereafter, respectively.