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Revenue Recognition
 6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time.
Disaggregation of Revenue
The Company’s operations are comprised of the Merchant Acceptance (“Acceptance”) segment, the Financial Technology (“Fintech”) segment and the Payments and Network (“Payments”) segment. Additional information regarding the Company’s business segments is included in Note 19. The tables below present the Company’s revenue disaggregated by type of revenue, including a reconciliation with its reportable segments. The majority of the Company’s revenue is earned domestically, with revenue generated outside the United States comprising approximately 14% and 12% of total revenue for the three months ended June 30, 2021 and 2020, respectively, and 13% of total revenue for each of the six months ended June 30, 2021 and 2020.
(In millions)Reportable Segments
Three Months Ended June 30, 2021 AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,420 $385 $1,122 $10 $2,937 
Hardware, print and card production214 12 199 — 425 
Professional services9 115 66 — 190 
Software maintenance— 139 2 — 141 
License and termination fees11 50 14 — 75 
Output solutions postage— — — 202 202 
Other12 53 18 (2)81 
Total Revenue$1,666 $754 $1,421 $210 $4,051 
(In millions)Reportable Segments
Three Months Ended June 30, 2020AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,038 $349 $1,063 $13 $2,463 
Hardware, print and card production159 9 160 — 328 
Professional services8 115 58 — 181 
Software maintenance— 141 — — 141 
License and termination fees6 52 18 — 76 
Output solutions postage— — — 198 198 
Other12 48 21 (3)78 
Total Revenue$1,223 $714 $1,320 $208 $3,465 
(In millions)Reportable Segments
Six Months Ended June 30, 2021 AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$2,598 $763 $2,199 $22 $5,582 
Hardware, print and card production404 23 431 — 858 
Professional services18 226 129 — 373 
Software maintenance— 278 4 — 282 
License and termination fees21 88 27 — 136 
Output solutions postage— — — 407 407 
Other22 112 36 (2)168 
Total Revenue$3,063 $1,490 $2,826 $427 $7,806 

(In millions)Reportable Segments
Six Months Ended June 30, 2020AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$2,221 $700 $2,153 $38 $5,112 
Hardware, print and card production352 21 352 — 725 
Professional services11 227 115 1 354 
Software maintenance— 282 1 2 285 
License and termination fees12 98 40 — 150 
Output solutions postage— — — 433 433 
Other28 104 45 (2)175 
Total Revenue$2,624 $1,432 $2,706 $472 $7,234 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)June 30, 2021December 31, 2020
Contract assets$500 $433 
Contract liabilities705 733 
Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily result from revenue being recognized where payment is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $350 million of revenue during the six months ended June 30, 2021 that was included in the contract liability balance at the beginning of the period.
Transaction Price Allocated to Remaining Performance Obligations
The following table includes estimated processing, services and product revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at June 30, 2021:
(In millions)
Year Ending December 31,
Remainder of 2021$1,020 
20221,868 
20231,565 
20241,190 
Thereafter2,105 
The Company applies the optional exemption under Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”) and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional exemptions under ASC 606 and does not disclose information for variable consideration that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year.