Revenues

3 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Contract liabilities

During the three months ended June 30, 2023, we recognized $700 million from the contract liabilities balances as of March 31, 2023. During the three months ended July 1, 2022, we recognized $508 million from the contract liabilities balances as of April 1, 2022.

Remaining performance obligations

Remaining performance obligations represent contract revenue that has not been recognized, which include contract liabilities and amounts that will be billed and recognized as revenue in future periods. As of June 30, 2023, we had $1,219 million of remaining performance obligations, excluding customer deposit liabilities of $490 million, of which we expect to recognize approximately 94% as revenue over the next 12 months.

See Note 17 for tabular disclosures of disaggregated revenue by solution and geographic region.