Revenue

3 Months Ended

Mar. 31, 2021

Revenue

Revenue

NOTE 2. Revenue

Contract Balances:

Deferred revenue primarily relates to revenue that is recognized over time for one-year software license contracts. Deferred revenue (current portion) as of March 31, 2021 and December 31, 2020 was $482 million and $498 million, respectively. Approximately $180 million of the December 31, 2020 balance was recognized as revenue during the three months ended March 31, 2021, while approximately $160 million of the December 31, 2019 balance was recognized as revenue during the three months ended March 31, 2020.

Operating Lease Revenue:

Net sales includes rental revenue from durable medical devices as part of operating lease arrangements (reported within the Medical Solutions Division), which was $140 million and $142 million for the three months ended March 31, 2021 and 2020, respectively.

Disaggregated revenue information:

The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods:

	Three months ended
	March 31,
Net Sales (Millions)	2021		2020
Abrasives	$	352	$	330
Automotive Aftermarket		312		284
Closure and Masking Systems		243		268
Electrical Markets		307		288
Industrial Adhesives and Tapes		768		671
Personal Safety		1,237		989
Roofing Granules		108		95
Other Safety and Industrial		—		2
Total Safety and Industrial Business Segment	$	3,327	$	2,927
Advanced Materials	$	316	$	288
Automotive and Aerospace		516		448
Commercial Solutions		438		430
Electronics		1,042		863
Transportation Safety		218		211
Other Transportation and Electronics		1		(1)
Total Transportation and Electronics Business Segment	$	2,531	$	2,239
Drug Delivery	$	—	$	105
Food Safety		88		91
Health Information Systems		289		277
Medical Solutions		1,267		1,153
Oral Care		363		277
Separation and Purification Sciences		241		202
Other Health Care		—		(1)
Total Health Care Business Group	$	2,248	$	2,104
Consumer Health and Safety	$	150	$	172
Home Care		279		271
Home Improvement		623		503
Stationery and Office		285		268
Other Consumer		36		36
Total Consumer Business Group	$	1,373	$	1,250
Corporate and Unallocated	$	(2)	$	—
Elimination of Dual Credit		(626)		(445)
Total Company	$	8,851	$	8,075

	Three months ended March 31, 2021
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	1,697	$	823	$	807	$	—	$	3,327
Transportation and Electronics		650		1,490		391		—		2,531
Health Care		1,311		408		529		—		2,248
Consumer		949		278		146		—		1,373
Corporate and Unallocated		(1)		—		—		(1)		(2)
Elimination of Dual Credit		(278)		(230)		(118)		—		(626)
Total Company	$	4,328	$	2,769	$	1,755	$	(1)	$	8,851

	Three months ended March 31, 2020
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	1,517	$	712	$	698	$	—	$	2,927
Transportation and Electronics		675		1,202		362		—		2,239
Health Care		1,281		356		467		—		2,104
Consumer		874		250		127		(1)		1,250
Corporate and Unallocated		1		—		—		(1)		—
Elimination of Dual Credit		(206)		(175)		(64)		—		(445)
Total Company	$	4,142	$	2,345	$	1,590	$	(2)	$	8,075

Americas included United States net sales of $3.6 billion and $3.4 billion for the three months ended March 31, 2021 and 2020, respectively.