Revenue (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table represents our revenues disaggregated by product line (in thousands):

	Three months ended September 30,				Nine months ended September 30,
Product line	2023		2022		2023		2022
Consumables	242,010		251,572		715,108		732,756
Infusion Systems	148,981		161,555		463,836		448,426
Vital Care	162,320		184,730		492,326		520,801
Total Revenues	$	553,311	$	597,857	$	1,671,270	$	1,701,983

For the three and nine months ended September 30, 2023, net sales to Medline made up approximately 18% and 16% of total revenues, respectively. For the three and nine months ended September 30, 2022, net sales to Medline made up approximately 16% and 15% of total revenues, respectively.

The following table represents our revenues disaggregated by geography (in thousands):

	Three months ended September 30,				Nine months ended September 30,
Geography	2023		2022		2023		2022
United States	$	355,984	$	376,691	$	1,063,037	$	1,088,348
Europe, the Middle East and Africa	88,014		101,869		276,994		275,488
APAC	59,064		66,569		177,719		191,847
Other Foreign	50,249		52,728		153,520		146,300
Total Revenues	$	553,311	$	597,857	$	1,671,270	$	1,701,983

Contract with Customer, Asset and Liability [Table Text Block]

The following table presents the changes in our contract balances for the nine months ended September 30, 2023 and 2022 (in thousands):

	Contract Liabilities
Beginning balance, January 1, 2023	$	(45,866)
Equipment revenue recognized	24,872
Equipment revenue deferred	(25,620)
Software revenue recognized	13,546
Software revenue deferred	(12,797)
Government grant deferred income*	(944)
Government grant recognized	3,164
Other deferred revenue	(1,674)
Other deferred revenue recognized	4,748
Ending balance, September 30, 2023	$	(40,571)
Beginning balance, January 1, 2022	$	(7,461)
Fair value of acquired deferred revenue	(51,245)
Equipment revenue recognized	22,757
Equipment revenue deferred	(13,420)
Software revenue recognized	12,761
Software revenue deferred	(12,978)
Government grant deferred income*	(3,434)
Government grant recognized	178
Other deferred revenue	(1,285)
Other deferred revenue recognized	3,488
Ending balance, September 30, 2022	$	(50,639)

Deferred Revenue, by Arrangement, Disclosure

As of September 30, 2023, revenue from remaining performance obligations is as follows:

	Recognition Timing
(in millions)	< 12 Months		> 12 Months
Equipment deferred revenue	$	(16,448)	$	(12)
Software deferred revenue	(8,261)		(707)
Government grant deferred income*	(1,451)		(10,548)
Other deferred revenue**	(2,575)		(569)
Total	$	(28,735)	$	(11,836)

_________________________________

*The government grant deferred income is amortized over the life of the related depreciable asset as a reduction to depreciation expense.

**Other deferred revenue includes pump development programs, purchased training and extended warranty.