The following tables provide details of revenue by major products/service offerings and by geography.

* Contains lease and loan/working capital financing arrangements which are not subject to the guidance on revenue from contracts with customers.

Revenue by Geography


(Dollars in millions)	Total
For the three months ended September 30, 2019:	Revenue

Americas	$	8,514
Europe/Middle East/Africa		5,477
Asia Pacific		4,036
Total	$	18,028

Revenue by Major Products/Service Offerings


(Dollars in millions)	Cloud &		Global		Global
For the three months	Cognitive		Business		Technology				Global				Total
ended September 30, 2018:	Software*		Services*		Services*		Systems		Financing		Other*		Revenue

Cognitive Applications	$	1,324	$	—	$	—	$	—	$	—	$	—	$	1,324
Cloud & Data Platforms		1,968		—		—		—		—		—		1,968
Transaction Processing Platforms		1,669		—		—		—		—		—		1,669

Consulting		—		1,900		—		—		—		—		1,900
Application Management		—		1,915		—		—		—		—		1,915
Global Process Services		—		260		—		—		—		—		260

Infrastructure & Cloud Services		—		—		5,393		—		—		—		5,393
Technology Support Services		—		—		1,707		—		—		—		1,707

Systems Hardware		—		—		—		1,339		—		—		1,339
Operating Systems Software		—		—		—		397		—		—		397

Global Financing**		—		—		—		—		388		—		388

Other Revenue		—		—		—		—		—		493		493
Total	$	4,962	$	4,076	$	7,101	$	1,736	$	388	$	493	$	18,756

* Recast to conform to 2019 presentation.

** Contains lease and loan/working capital financing arrangements which are not subject to the guidance on revenue from contracts with customers.

Revenue by Geography


(Dollars in millions)	Total
For the three months ended September 30, 2018:	Revenue

Americas	$	8,853
Europe/Middle East/Africa		5,827
Asia Pacific		4,076
Total	$	18,756

Revenue by Major Products/Service Offerings


(Dollars in millions)	Cloud &		Global		Global
For the nine months	Cognitive		Business		Technology				Global				Total
ended September 30, 2019:	Software		Services		Services		Systems		Financing		Other		Revenue

Cognitive Applications	$	4,145	$	—	$	—	$	—	$	—	$	—	$	4,145
Cloud & Data Platforms		6,398		—		—		—		—		—		6,398
Transaction Processing Platforms		5,419		—		—		—		—		—		5,419

Consulting		—		5,915		—		—		—		—		5,915
Application Management		—		5,724		—		—		—		—		5,724
Global Process Services		—		752		—		—		—		—		752

Infrastructure & Cloud Services		—		—		15,454		—		—		—		15,454
Technology Support Services		—		—		4,958		—		—		—		4,958

Systems Hardware		—		—		—		3,358		—		—		3,358
Operating Systems Software		—		—		—		1,204		—		—		1,204

Global Financing*		—		—		—		—		1,100		—		1,100

Other Revenue		—		—		—		—		—		944		944
Total	$	15,962	$	12,391	$	20,412	$	4,562	$	1,100	$	944	$	55,370

* Contains lease and loan/working capital financing arrangements which are not subject to the guidance on revenue from contracts with customers.

Revenue by Geography


(Dollars in millions)	Total
For the nine months ended September 30, 2019:	Revenue

Americas	$	25,813
Europe/Middle East/Africa		17,354
Asia Pacific		12,203
Total	$	55,370

Revenue by Major Products/Service Offerings


(Dollars in millions)	Cloud &		Global		Global
For the nine months	Cognitive		Business		Technology				Global				Total
ended September 30, 2018:	Software*		Services*		Services*		Systems		Financing		Other*		Revenue

Cognitive Applications	$	4,023	$	—	$	—	$	—	$	—	$	—	$	4,023
Cloud & Data Platforms		5,997		—		—		—		—		—		5,997
Transaction Processing Platforms		5,528		—		—		—		—		—		5,528

Consulting		—		5,698		—		—		—		—		5,698
Application Management		—		5,863		—		—		—		—		5,863
Global Process Services		—		765		—		—		—		—		765

Infrastructure & Cloud Services		—		—		16,608		—		—		—		16,608
Technology Support Services		—		—		5,239		—		—		—		5,239

Systems Hardware		—		—		—		4,187		—		—		4,187
Operating Systems Software		—		—		—		1,225		—		—		1,225

Global Financing**		—		—		—		—		1,188		—		1,188

Other Revenue		—		—		—		—		—		1,511		1,511
Total	$	15,548	$	12,326	$	21,846	$	5,412	$	1,188	$	1,511	$	57,830

* Recast to conform to 2019 presentation.

** Contains lease and loan/working capital financing arrangements which are not subject to the guidance on revenue from contracts with customers.

Revenue by Geography


(Dollars in millions)	Total
For the nine months ended September 30, 2018:	Revenue

Americas	$	26,772
Europe/Middle East/Africa		18,410
Asia Pacific		12,648
Total	$	57,830

Remaining Performance Obligations

The remaining performance obligation (RPO) disclosure provides the aggregate amount of the transaction price yet to be recognized as of the end of the reporting period and an explanation as to when the company expects to recognize these amounts in revenue. It is intended to be a statement of overall work under contract that has not yet been performed and does not include contracts in which the customer is not committed, such as certain as-a-Service, governmental, term software license and services offerings. The customer is not considered committed when they are able to terminate for convenience without payment of a substantive penalty. The disclosure includes estimates of variable consideration, except when the variable consideration is a sales-based or usage-based royalty promised in exchange for a license of intellectual property. Additionally, as a practical expedient, the company does not include contracts that have an original duration of one year or less. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustment for revenue that has not materialized and adjustments for currency.

At September 30, 2019, the aggregate amount of the transaction price allocated to RPO related to customer contracts that are unsatisfied or partially unsatisfied was $115 billion. Given the profile of contract terms, approximately 58 percent of this amount is expected to be recognized as revenue over the next two years, approximately 34 percent between three and five years and the balance (mostly Infrastructure & Cloud Services) thereafter.

At December 31, 2018, the aggregate amount of the transaction price allocated to RPO related to customer contracts that were unsatisfied or partially unsatisfied was $124 billion. Given the profile of contract terms, approximately 60 percent of this amount was expected to be recognized as revenue over the next two years, approximately 35 percent between three and five years and the balance (mostly Infrastructure & Cloud Services) thereafter.

Revenue Recognized for Performance Obligations Satisfied (or Partially Satisfied) in Prior Periods

For the three and nine months ending September 30, 2019, revenue was reduced by $42 million and $33 million, respectively, for performance obligations satisfied (or partially satisfied) in previous periods mainly due to changes in estimates on percentage-of-completion based contracts.

For the three and nine months ending September 30, 2018, revenue was reduced by $25 million and $50 million, respectively, for performance obligations satisfied (or partially satisfied) in previous periods mainly due to changes in estimates on percentage-of-completion based contracts.

Reconciliation of Contract Balances

The following table provides information about notes and accounts receivables — trade, contract assets and deferred income balances:


	At September 30,		At December 31,
(Dollars in millions)	2019		2018
Notes and accounts receivable — trade (net of allowances of $286 and $309 at September 30, 2019 and December 31, 2018, respectively)	$	6,753	$	7,432
Contract assets (1)		513		470
Deferred income (current)		11,223		11,165
Deferred income (noncurrent)		3,382		3,445

(1)	Included within prepaid expenses and other current assets in the Consolidated Statement of Financial Position.

The amount of revenue recognized during the three and nine months ended September 30, 2019 that was included within the deferred income balance at June 30, 2019 and December 31, 2018 was $3.6 billion and $7.7 billion, respectively, and was primarily related to services and software.

The amount of revenue recognized during the three and nine months ended September 30, 2018 that was included within the deferred income balance at June 30, 2018 and January 1, 2018 was $3.8 billion and $8.0 billion, respectively, and was primarily related to services and software.