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Revenue Recognition
 9 Months Ended
Sep. 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 20. 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 15% and 14% of total revenue for the three months ended September 30, 2023 and 2022, respectively, and 14% of total revenue for each of the nine months ended September 30, 2023 and 2022.
(In millions)Reportable Segments
Type of RevenueAcceptanceFintechPaymentsCorporate
and Other		Total
Three Months Ended September 30, 2023
Processing$1,796 $421 $1,237 $5 $3,459 
Hardware, print and card production257 19 258 — 534 
Professional services6 119 76 — 201 
Software maintenance— 128 9 — 137 
License and termination fees10 46 72 — 128 
Output Solutions postage— — — 263 263 
Other37 62 52 — 151 
Total Revenue$2,106 $795 $1,704 $268 $4,873 
Three Months Ended September 30, 2022
Processing$1,586 $407 $1,218 $6 $3,217 
Hardware, print and card production254 9 271 — 534 
Professional services5 119 74 — 198 
Software maintenance— 138 7 — 145 
License and termination fees15 36 19 — 70 
Output Solutions postage— — — 251 251 
Other18 57 28 — 103 
Total Revenue$1,878 $766 $1,617 $257 $4,518 
(In millions)Reportable Segments
Type of RevenueAcceptanceFintechPaymentsCorporate
and Other		Total
Nine Months Ended September 30, 2023
Processing$5,122 $1,251 $3,637 $18 $10,028 
Hardware, print and card production744 42 814 — 1,600 
Professional services16 348 224 — 588 
Software maintenance— 403 28 — 431 
License and termination fees31 145 145 — 321 
Output Solutions postage— — — 791 791 
Other105 182 130 — 417 
Total Revenue$6,018 $2,371 $4,978 $809 $14,176 
Nine Months Ended September 30, 2022
Processing$4,649 $1,210 $3,486 $18 $9,363 
Hardware, print and card production694 28 744 — 1,466 
Professional services15 366 203 — 584 
Software maintenance— 415 18 — 433 
License and termination fees43 152 79 — 274 
Output Solutions postage— — — 712 712 
Other31 176 67 — 274 
Total Revenue$5,432 $2,347 $4,597 $730 $13,106 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)September 30, 2023December 31, 2022
Contract assets$602 $551 
Contract liabilities852 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 $539 million of revenue during the nine months ended September 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 September 30, 2023:
(In millions)
Year Ending December 31,
Remainder of 2023$603 
20242,226 
20251,744 
20261,206 
Thereafter1,643 
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- 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.