Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregated Revenue

The following tables disaggregate our revenue by source and timing of recognition:

	Three Months Ended March 31, 2020
	Global Ecommerce		Presort Services		SendTech Solutions		Revenue from products and services		Revenue from leasing transactions and financing		Total consolidated revenue
Major products/service lines
Business services	$	292,323	$	140,720	$	11,336	$	444,379	$	—	$	444,379
Support services	—		—		122,015		122,015		—		122,015
Financing	—		—		—		—		89,078		89,078
Equipment sales	—		—		17,130		17,130		59,143		76,273
Supplies	—		—		45,709		45,709		—		45,709
Rentals	—		—		—		—		18,814		18,814
Subtotal	292,323		140,720		196,190		629,233		$	167,035	$	796,268
Revenue from leasing transactions and financing
Financing	—		—		89,078		89,078
Equipment sales	—		—		59,143		59,143
Rentals	—		—		18,814		18,814
Total revenue	$	292,323	$	140,720	$	363,225	$	796,268
Timing of revenue recognition from products and services
Products/services transferred at a point in time	$	—	$	—	$	78,374	$	78,374
Products/services transferred over time	292,323		140,720		117,816		550,859
Total	$	292,323	$	140,720	$	196,190	$	629,233

	Three Months Ended March 31, 2019
	Global Ecommerce		Presort Services		SendTech Solutions		Revenue from products and services		Revenue from leasing transactions and financing		Total consolidated revenue
Major products/service lines
Business services	$	266,254	$	134,847	$	5,444	$	406,545	$	—	$	406,545
Support services	—		—		128,599		128,599		—		128,599
Financing	—		—		—		—		97,043		97,043
Equipment sales	—		—		21,293		21,293		68,494		89,787
Supplies	—		—		50,953		50,953		—		50,953
Rentals	—		—		—		—		22,157		22,157
Subtotal	266,254		134,847		206,289		607,390		$	187,694	$	795,084
Revenue from leasing transactions and financing
Financing	—		—		97,043		97,043
Equipment sales	—		—		68,494		68,494
Rentals	—		—		22,157		22,157
Total revenue	$	266,254	$	134,847	$	393,983	$	795,084
Timing of revenue recognition from products and services
Products/services transferred at a point in time	$	—	$	—	$	86,877	$	86,877
Products/services transferred over time	266,254		134,847		119,412		520,513
Total	$	266,254	$	134,847	$	206,289	$	607,390

Our performance obligations for revenue from products and services are as follows:

Business services includes providing mail processing services, cross-border solutions, shipping solutions and fulfillment, delivery and return services. Revenue is recognized over time as the services are provided. Contract terms for these services range from one to five years followed by annual renewal periods.

Support services includes providing maintenance, professional, meter and other subscription services for our mailing equipment. Contract terms range from one to five years, depending on the term of the lease contract for the related equipment. Revenue for maintenance, meter and other subscription services is recognized ratably over the contract period and revenue for professional services is recognized when services are provided.

Equipment sales generally include the sale of mailing equipment, excluding sales-type leases. We recognize revenue upon delivery for self-install equipment and upon acceptance or installation for other equipment. We provide a warranty that our equipment is free of defects and meets stated specifications. The warranty is not considered a separate performance obligation.

Supplies revenue is recognized upon delivery.

Revenue from leasing transactions and financing includes revenue from sales-type leases, operating leases, finance income and late fees.

Advance Billings from Contracts with Customers

	Balance sheet location	March 31, 2020		December 31, 2019		Increase/ (decrease)
Advance billings, current	Advance billings	$	88,038	$	92,464	$	(4,426	)
Advance billings, noncurrent	Other noncurrent liabilities	$	1,192	$	1,245	$	(53	)

Advance billings are recorded when cash payments are due in advance of our performance. Items in advance billings primarily relate to support services on mailing equipment. Revenue is recognized ratably over the contract term.

The net decrease in advance billings at March 31, 2020 is due to revenue recognized during the period in excess of advance billings. Revenue recognized during the period includes $55 million of advance billings at the beginning of the period, partially offset by advance billings in the quarter.

Future Performance Obligations

Future performance obligations include revenue streams bundled with our leasing contracts, primarily maintenance, meter and other subscription services. The transaction prices allocated to future performance obligations will be recognized as follows:

	Remainder of 2020		2021		2022-2025		Total
SendTech Solutions	$	219,155	$	238,137	$	306,647	$	763,939

The table above does not include revenue related to performance obligations for contracts with terms less than 12 months and expected consideration for those performance obligations where revenue is recognized based on the amount billable to the customer.