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Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations
3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations
The following tables represent revenues by geographic region and reportable segment for the three months ended March 31, 2023 and 2022:
Three Months Ended March 31, 2023
(in millions)Technology &
Analytics Solutions
Research &
Development Solutions
Contract Sales &
Medical Solutions
Total
Revenues:
Americas$735 $986 $80 $1,801 
Europe and Africa556 491 47 1,094 
Asia-Pacific153 549 55 757 
Total revenues$1,444 $2,026 $182 $3,652 
Three Months Ended March 31, 2022
(in millions)Technology &
Analytics Solutions
Research &
Development Solutions
Contract Sales &
Medical Solutions
Total
Revenues:
Americas$681 $946 $91 $1,718 
Europe and Africa596 507 46 1,149 
Asia-Pacific162 481 58 701 
Total revenues$1,439 $1,934 $195 $3,568 
No individual customer represented 10% or more of consolidated revenues for the three months ended March 31, 2023 or 2022.
Transaction Price Allocated to the Remaining Performance Obligations
As of March 31, 2023, approximately $31.4 billion of revenues are expected to be recognized in the future from remaining performance obligations. The Company expects to recognize revenues on approximately 30% of these remaining performance obligations over the next twelve months, on approximately 80% over the next five years, with the balance recognized thereafter. Most of the Company's remaining performance obligations where revenues are expected to be recognized beyond the next twelve months are for service contracts for clinical research in the Company's Research & Development Solutions segment. The customer contract transaction price allocated to the remaining performance obligations differs from backlog in that it does not include wholly unperformed contracts under which the customer has a unilateral right to cancel the arrangement