REVENUE

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

The following tables present our revenue recognized by primary geographical market in our reportable business segments and by industry for SCS. Refer to Note 3, "Segment Reporting," for the disaggregation of our revenue by major products/service lines.

Primary Geographical Markets

	Three months ended September 30, 2022
(In thousands)	FMS		SCS		DTS		Eliminations		Total
United States	$	1,478,831	$	1,077,669	$	454,328	$	(196,820)	$	2,814,008
Canada	80,140		61,338		—		(9,913)		131,565
Europe (1)	22,899		—		—		—		22,899
Mexico	—		67,501		—		(509)		66,992
Total revenue	$	1,581,870	$	1,206,508	$	454,328	$	(207,242)	$	3,035,464

(1)Refer to Note 15, "Other Items Impacting Comparability" for further information on the exit of the FMS U.K. business.

	Three months ended September 30, 2021
(In thousands)	FMS		SCS		DTS		Eliminations		Total
United States	$	1,295,617	$	689,180	$	380,357	$	(152,014)	$	2,213,140
Canada	76,361		57,085		—		(7,991)		125,455
Europe	64,362		—		—		—		64,362
Mexico	—		56,092		—		—		56,092
Total revenue	$	1,436,340	$	802,357	$	380,357	$	(160,005)	$	2,459,049

	Nine months ended September 30, 2022
(In thousands)	FMS		SCS		DTS		Eliminations		Total
United States	$	4,351,413	$	3,089,087	$	1,329,504	$	(576,952)	$	8,193,052
Canada	239,262		190,049		—		(30,256)		399,055
Europe (1)	141,518		—		—		—		141,518
Mexico	—		189,872		—		(509)		189,363
Total revenue	$	4,732,193	$	3,469,008	$	1,329,504	$	(607,717)	$	8,922,988
(1)Refer to Note 15, "Other Items Impacting Comparability" for further information on the exit of the FMS U.K. business.
	Nine months ended September 30, 2021
(In thousands)	FMS		SCS		DTS		Eliminations		Total
United States	$	3,756,851	$	1,952,193	$	1,055,575	$	(436,793)	$	6,327,826
Canada	223,623		171,908		—		(20,627)		374,904
Europe	199,592		—		—		—		199,592
Mexico	—		160,586		—		—		160,586
Total revenue	$	4,180,066	$	2,284,687	$	1,055,575	$	(457,420)	$	7,062,908

Industry

Our SCS business segment included revenue from the below industries:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2022		2021		2022		2021
Consumer packaged goods and retail	$	565,822	$	316,876	$	1,604,521	$	876,362
Automotive	391,929		303,923		1,134,659		882,977
Technology and healthcare	131,379		103,387		380,990		310,422
Industrial and other	117,378		78,171		348,838		214,926
Total SCS revenue	$	1,206,508	$	802,357	$	3,469,008	$	2,284,687

Lease & Related Maintenance and Rental Revenue

The non-lease revenue from maintenance services related to our FMS business is recognized in "Lease & related maintenance and rental revenue" in the Condensed Consolidated Statements of Earnings. For the three months ended September 30, 2022 and 2021, we recognized $250 million and $255 million, respectively. For the nine months ended September 30, 2022 and 2021, we recognized $769 million and $765 million, respectively.

Deferred Revenue

The following table includes the changes in deferred revenue due to the collection and deferral of cash or the satisfaction of our performance obligation under the contract:

	Nine months ended September 30,
(In thousands)	2022		2021
Balance as of beginning of period	$	593,442	$	629,739
Recognized as revenue during period from beginning balance	(306,615)		(147,944)
Consideration deferred during period, net	234,847		115,562
Foreign currency translation adjustment and other	28,886		(418)
Balance as of end of period	$	550,560	$	596,939

Contracted Not Recognized Revenue

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (contracted not recognized revenue). Contracted not recognized revenue primarily includes deferred revenue and amounts for full service ChoiceLease maintenance revenue that will be recognized as revenue in future periods as we provide maintenance services to our customers. Contracted not recognized revenue excludes (1) variable consideration as it is not included in the transaction price consideration allocated at contract inception; (2) revenue from our lease component of our ChoiceLease product and commercial rental product; (3) revenue from contracts with an original duration of one year or less, including SelectCare contracts; and (4) revenue from SCS, DTS and other contracts where there are remaining performance obligations when we have the right to invoice but the revenue to be recognized in the future corresponds directly with the value delivered to the customer. Contracted not recognized revenue was $2.3 billion as of September 30, 2022.