Revenues

The Company recognizes revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services.

Disaggregation of Revenue

The following table presents our revenues disaggregated by product category for each of our segments, Asset Intelligence & Tracking (“AIT”) and Enterprise Visibility & Mobility (“EVM”), for the three months ended March 30, 2019 and March 31, 2018 (in millions):



	Three Months Ended
	March 30, 2019						March 31, 2018
Segment	Tangible Products		Services and Software		Total		Tangible Products		Services and Software		Total
AIT	$	320	$	37	$	357	$	313	$	39	$	352
EVM	604		105		709		526		99		625
Total	$	924	$	142	$	1,066	$	839	$	138	$	977

In addition, refer to Note 15, Segment Information & Geographic Data for Net sales to customers by geographic region.

We recognize revenue arising from performance obligations outlined in contracts with our customers that are satisfied at a point in time and over time. Substantially all of our revenue for tangible products is recognized at a point in time, whereby revenue for services and software is predominantly recognized over time.

Performance Obligations

The Company’s remaining obligations that are greater than one year in duration relate primarily to repair and support services. The aggregated transaction price allocated to remaining performance obligations related to these types of service arrangements, inclusive of deferred revenue, was $655 million and $489 million as of March 30, 2019 and December 31, 2018, respectively. These remaining performance obligations as of March 30, 2019 and December 31, 2018 are expected to be recognized over a period of approximately two years, respectively.

Revenue recognized in the reporting period from performance obligations satisfied in previous periods was not material for the three months ended March 30, 2019 and March 31, 2018, respectively.

Contract Balances

Progress on satisfying performance obligations under contracts with customers are recorded on the Consolidated Balance Sheets in Accounts receivable, net and Prepaid expenses and other current assets for billed and unbilled revenues, respectively. The contract asset balances for unbilled receivables were $5 million as of March 30, 2019 and December 31, 2018, respectively. These contract assets result from timing differences between the billing schedule and the products and services delivery schedules, as well as, the impact from the allocation of the transaction price among performance obligations for contracts that include multiple performance obligations.

Deferred revenue on the Consolidated Balance Sheets consist of payments and billings in advance of our performance. The combined short-term and long-term deferred revenue balances were $400 million and $382 million as of March 30, 2019 and December 31, 2018, respectively. During the three months ended March 30, 2019 and March 31, 2018 the Company recognized $70 million and $65 million in revenue, respectively, which was previously included in the beginning balance of deferred revenue.