Revenue

6 Months Ended

Jun. 30, 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 June 30, 2021 and December 31, 2020 was $475 million and $498 million, respectively. Approximately $140 million and $320 million of the December 31, 2020 balance was recognized as revenue during the three and six months ended June 30,

2021, respectively, while approximately $110 million and $270 million of the December 31, 2019 balance was recognized as revenue during the three and six months ended June 30, 2020, respectively.

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 $145 million and $133 million during the three months ended June 30, 2021 and 2020, respectively, and $285 million and $275 million during the six months ended June 30, 2021 and 2020.

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				Six months ended
	June 30,				June 30,
Net Sales (Millions)	2021		2020		2021		2020
Abrasives	$	353	$	242	$	705	$	572
Automotive Aftermarket		313		202		625		486
Closure and Masking Systems		254		235		497		503
Electrical Markets		319		251		626		539
Industrial Adhesives and Tapes		761		545		1,529		1,216
Personal Safety		1,133		1,095		2,370		2,084
Roofing Granules		121		86		229		181
Other Safety and Industrial		—		1		—		3
Total Safety and Industrial Business Segment	$	3,254	$	2,657	$	6,581	$	5,584
Advanced Materials	$	304	$	236	$	620	$	524
Automotive and Aerospace		469		268		985		716
Commercial Solutions		454		327		892		757
Electronics		998		884		2,040		1,747
Transportation Safety		259		222		477		433
Other Transportation and Electronics		(2)		—		(1)		(1)
Total Transportation and Electronics Business Segment	$	2,482	$	1,937		5,013	$	4,176
Drug Delivery	$	—	$	41	$	—	$	146
Food Safety		95		78		183		169
Health Information Systems		299		276		588		553
Medical Solutions		1,275		1,067		2,542		2,220
Oral Care		364		144		727		421
Separation and Purification Sciences		248		216		489		418
Other Health Care		(3)		1		(3)		—
Total Health Care Business Group	$	2,278	$	1,823	$	4,526	$	3,927
Consumer Health and Safety	$	163	$	120	$	313	$	292
Home Care		272		257		551		528
Home Improvement		666		564		1,289		1,067
Stationery and Office		352		257		637		525
Other Consumer		29		33		65		69
Total Consumer Business Group	$	1,482	$	1,231	$	2,855	$	2,481
Corporate and Unallocated	$	1	$	1	$	(1)	$	1
Elimination of Dual Credit		(547)		(473)		(1,173)		(918)
Total Company	$	8,950	$	7,176	$	17,801	$	15,251

	Three months ended June 30, 2021
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	1,670	$	814	$	770	$	—	$	3,254
Transportation and Electronics		718		1,382		383		(1)		2,482
Health Care		1,333		430		516		(1)		2,278
Consumer		1,081		246		155		—		1,482
Corporate and Unallocated		1		—		—		—		1
Elimination of Dual Credit		(221)		(217)		(110)		1		(547)
Total Company	$	4,582	$	2,655	$	1,714	$	(1)	$	8,950

	Six months ended June 30, 2021
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	3,367	$	1,637	$	1,577	$	—	$	6,581
Transportation and Electronics		1,368		2,872		774		(1)		5,013
Health Care		2,644		838		1,045		(1)		4,526
Consumer		2,030		524		301		—		2,855
Corporate and Unallocated		—		—		—		(1)		(1)
Elimination of Dual Credit		(499)		(447)		(228)		1		(1,173)
Total Company	$	8,910	$	5,424	$	3,469	$	(2)	$	17,801

	Three months ended June 30, 2020
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	1,365	$	649	$	644	$	(1)	$	2,657
Transportation and Electronics		532		1,151		254		—		1,937
Health Care		1,074		358		392		(1)		1,823
Consumer		895		216		120		—		1,231
Corporate and Unallocated		(2)		—		—		3		1
Elimination of Dual Credit		(231)		(164)		(78)		—		(473)
Total Company	$	3,633	$	2,210	$	1,332	$	1	$	7,176

	Six months ended June 30, 2020
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	2,882	$	1,361	$	1,342	$	(1)	$	5,584
Transportation and Electronics		1,207		2,353		616		—		4,176
Health Care		2,355		714		859		(1)		3,927
Consumer		1,769		466		247		(1)		2,481
Corporate and Unallocated		(1)		—		—		2		1
Elimination of Dual Credit		(437)		(339)		(142)		—		(918)
Total Company	$	7,775	$	4,555	$	2,922	$	(1)	$	15,251

Americas included United States net sales to customers of $3.8 billion and $3.1 billion for the three months ended June 30, 2021 and 2020, respectively, and $7.4 billion and $6.6 billion for the six months ended June 30, 2021 and 2020, respectively.