Contract Related Disclosures

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Contract Related Disclosures

5. Contract Related Disclosures

The following table summarizes contract related balances:

	Accounts Receivable		Unbilled Accounts Receivable		Right to recover asset		Deferred Income			Customer Prepayments and Deposits
	(in millions)
At March 31, 2024	$	36.7	$	20.5	$	0.6	$	(12.9	)	$	(3.1	)
At December 31, 2023	$	42.8	$	24.0	$	0.6	$	(12.7	)	$	(2.9	)

Revenue recognized that was included in the deferred income balance at the beginning of the period amounted to $1.9 million and $1.2 million for the three months ended March 31, 2024 and 2023, respectively.

For the periods ended March 31, 2024 and 2023 respectively, there was no significant amounts of revenue recognized as a result of changes in contract transaction price related to performance obligations that were satisfied in the respective prior periods.

Transaction Price Allocated to Remaining Performance Obligations

At March 31, 2024, the transaction price allocated to unsatisfied performance obligations for contracts expected to be greater than one year, or performance obligations for which we do not have a right to consideration from the customer in the amount that corresponds to the value to the customer for our performance completed to date, variable consideration which is not accounted for in accordance with the sales-based or usage-based royalties guidance, or contracts which are not wholly unperformed, is approximately $102.6 million. Of this amount, we expect to recognize as revenue approximately 30% through December 31, 2024, approximately 50% through December 31, 2026, and the remaining 20% through December 31, 2029.