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Revenue Recognition
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition
Note 4 – Revenue Recognition

Disaggregation of Revenue

The Company’s revenue is primarily comprised of product sales to customers. The Company has disaggregated revenue by geographic area and by segment as it most reasonably depicts the amount, timing and uncertainty of revenue and cash flows generated from our contracts with customers. Disaggregated consolidated revenue by geographic area (based on the location to which the product is shipped to):
Three Months Ended March 31,
(in thousands)20242023
United States$328,643 $298,727 
Canada29,388 21,845 
Europe19,094 16,916 
Pacific Rim4,223 1,937 
Latin America32,109 7,429 
Other3,024 1,416 
Intersegment revenue elimination(395)— 
Total revenue$416,086 $348,270 

See Note 16 – Segment Information for disaggregation of revenue by segment.

Rental Revenue

TestEquity rents new and used electronic test and measurement equipment to customers in multiple industries. Lawson leases parts washer machines to customers. This leased equipment is included in Rental equipment, net in the Unaudited
Condensed Consolidated Balance Sheets, and rental revenue is included in Revenue in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The unearned rental revenue related to customer prepayments on equipment leases was nominal at March 31, 2024 and December 31, 2023.

Rental revenue from operating leases:
Three Months Ended March 31,
(in thousands)20242023
Revenue from operating leases$4,287 $6,100