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Revenue Recognition
 6 Months Ended
Jun. 30, 2023
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 U.S. comprising approximately 14% of total revenue for each of the three and six months ended June 30, 2023 and 2022.
(In millions)Reportable Segments
Type of RevenueAcceptanceFintechPaymentsCorporate
and Other		Total
Three Months Ended June 30, 2023
Processing$1,772 $414 $1,213 $7 $3,406 
Hardware, print and card production241 11 269 — 521 
Professional services6 117 68 — 191 
Software maintenance— 138 13 — 151 
License and termination fees11 46 44 — 101 
Output Solutions postage— — — 255 255 
Other35 58 38 — 131 
Total Revenue$2,065 $784 $1,645 $262 $4,756 
Three Months Ended June 30, 2022
Processing$1,660 $398 $1,155 $6 $3,219 
Hardware, print and card production215 10 237 — 462 
Professional services5 131 67 — 203 
Software maintenance— 139 5 — 144 
License and termination fees14 68 34 — 116 
Output Solutions postage— — — 222 222 
Other7 57 20 — 84 
Total Revenue$1,901 $803 $1,518 $228 $4,450 
(In millions)Reportable Segments
Type of RevenueAcceptanceFintechPaymentsCorporate
and Other		Total
Six Months Ended June 30, 2023
Processing$3,326 $830 $2,400 $13 $6,569 
Hardware, print and card production487 23 556 — 1,066 
Professional services10 229 148 — 387 
Software maintenance— 275 19 — 294 
License and termination fees21 99 73 — 193 
Output Solutions postage— — — 528 528 
Other68 120 78 — 266 
Total Revenue$3,912 $1,576 $3,274 $541 $9,303 
Six Months Ended June 30, 2022
Processing$3,063 $803 $2,268 $12 $6,146 
Hardware, print and card production440 19 473 — 932 
Professional services10 247 129 — 386 
Software maintenance— 277 11 — 288 
License and termination fees28 116 60 — 204 
Output Solutions postage— — — 461 461 
Other13 119 39 — 171 
Total Revenue$3,554 $1,581 $2,980 $473 $8,588 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)June 30, 2023December 31, 2022
Contract assets$593 $551 
Contract liabilities918 860 
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 $405 million of revenue during the six months ended June 30, 2023 that was included in the contract liabilities 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 were unsatisfied (or partially unsatisfied) at June 30, 2023:
(In millions)
Year Ending December 31,
Remainder of 2023$1,170 
20242,104 
20251,664 
20261,106 
Thereafter1,500 
The Company applies the optional exemption under ASC Topic 606, Revenue from Contracts with Customers (“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.