XML 21 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Contracts with Customers
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Contracts with Customers Contracts with Customers
Deferred Revenue and Contract Balances — Deferred revenue primarily represents contractual amounts received from customers that exceed revenue recognized for automation equipment sales. Our enforceable contractual obligations have durations of less than one year and are included in current liabilities on the Unaudited Condensed Consolidated Balance Sheets. The following table presents our contract assets and contract liabilities as of the period ended June 30, 2024 and December 31, 2023:
June 30, 2024December 31, 2023
Contract Assets
$2.3 $1.4 
Contract Liabilities
$2.4 $2.0 
The contract liability balance represents deferred revenue related to our automation contracts. Deferred revenue from our automation projects is recognized within twelve months.
In addition to the disaggregation of revenue between paper, machine lease, and other revenue, we also disaggregate our revenue by segment geography to assist in evaluating the nature, timing, and uncertainty of revenue and cash flows that may be impacted by economic factors:
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
North America$31.1 $26.6 $57.3 $51.9 
Europe/Asia41.7 42.6 88.0 85.7 
Total paper and other revenue72.8 69.2 145.3 137.6 
North America6.5 5.8 12.2 11.5 
Europe/Asia7.1 6.9 14.2 14.0 
Machine lease revenue13.6 12.7 26.4 25.5 
Net revenue$86.4 $81.9 $171.7 $163.1 
North America consists of the United States, Canada and Mexico, among others; Europe/Asia consists of European, Asian (including China), Pacific Rim, South American and African countries, among others. Our customers are not concentrated in any specific geographic region. During the three and six months ended June 30, 2024 and 2023, no customers exceeded 10% of net revenue.