REVENUE

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

(3) REVENUE

The Company recognizes revenue from the sale of manufactured products and services when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services.

Disaggregation of Revenues

Prior to 2024, the Company previously reported critical infrastructure & solutions and integrated rack solutions revenue separately. In 2024, the previously reported revenue for those product and service offerings are combined and reported as products as they will collectively be managed together. Prior period amounts have been reclassified to conform with the current year presentation.

The following table disaggregates revenue by business segment, product and service offering and timing of transfer of control:

	Three months ended March 31, 2024
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Products	$	716.1	$	224.0	$	297.3	$	1,237.4
Services & spares	208.9		108.3		84.5		401.7
Total	$	925.0	$	332.3	$	381.8	$	1,639.1
Timing of revenue recognition:
Products and services transferred at a point in time	$	682.0	$	240.6	$	206.1	$	1,128.7
Products and services transferred over time	243.0		91.7		175.7		510.4
Total	$	925.0	$	332.3	$	381.8	$	1,639.1

	Three months ended March 31, 2023
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Products	$	673.9	$	208.9	$	267.7	$	1,150.5
Services & spares	188.4		104.1		78.1		370.6
Total	$	862.3	$	313.0	$	345.8	$	1,521.1
Timing of revenue recognition:
Products and services transferred at a point in time	$	652.1	$	230.0	$	256.3	$	1,138.4
Products and services transferred over time	210.2		83.0		89.5		382.7
Total	$	862.3	$	313.0	$	345.8	$	1,521.1

The opening and closing balances of current and long-term deferred revenue as of March 31, 2024 and December 31, 2023 were as follows:

	Balances at March 31, 2024		Balances at December 31, 2023
Deferred revenue - current	$	735.0	$	638.9
Deferred revenue - noncurrent (1)	67.3		61.8

(1)    Noncurrent deferred revenue is recorded within “Other long-term liabilities” on the Unaudited Condensed Consolidated Balance Sheets.

Deferred revenue - noncurrent consists primarily of maintenance, extended warranty and other service contracts. The Company expects to recognize noncurrent deferred revenue of $41.0, $14.2 and $12.1 in the next 13 to 24 months, the next 25 to 36 months, and thereafter, respectively.