XML 29 R12.htm IDEA: XBRL DOCUMENT v3.23.1
Revenue and Contract-related Balances
 3 Months Ended
Apr. 01, 2023
Revenue from Contract with Customer [Abstract]  
Revenue and Contract-related Balances Revenues and Contract-related Balances
Disaggregated Revenues
Revenues by type are as follows:
Three months ended
(In millions)April 1, 2023April 2, 2022
Revenues
Consumables
$4,506 $6,110 
Instruments
1,898 1,907 
Services
4,306 3,801 
Consolidated revenues$10,710 $11,818 
Revenues by geographic region based on customer location are as follows:
Three months ended
(In millions)April 1, 2023April 2, 2022
Revenues
North America
$5,778 $6,323 
Europe
2,601 3,050 
Asia-Pacific
1,986 2,064 
Other regions
345 381 
Consolidated revenues$10,710 $11,818 
Each reportable segment earns revenues from consumables, instruments and services in North America, Europe, Asia-Pacific and other regions. See Note 4 for revenues by reportable segment and other geographic data.
Remaining Performance Obligations
The aggregate amount of the transaction price allocated to the remaining performance obligations for all open customer contracts as of April 1, 2023 was $25.81 billion. The company will recognize revenues for these performance obligations as they are satisfied, approximately 57% of which is expected to occur within the next twelve months. Amounts expected to occur thereafter generally relate to contract manufacturing, clinical research and extended warranty service agreements, which typically have durations of three to five years.
Contract-related Balances
Noncurrent contract assets and noncurrent contract liabilities are included within other assets and other long-term liabilities in the accompanying balance sheet, respectively. Contract asset and liability balances are as follows:
(In millions)April 1, 2023December 31, 2022
Current contract assets, net$1,375 $1,312 
Noncurrent contract assets, net8 7 
Current contract liabilities2,662 2,601 
Noncurrent contract liabilities1,172 1,179 
In the three months ended April 1, 2023, the company recognized revenues of $1.30 billion that were included in the contract liabilities balance at December 31, 2022. In the three months ended April 2, 2022, the company recognized revenues of $1.28 billion that were included in the contract liabilities balance at December 31, 2021.