XML 34 R23.htm IDEA: XBRL DOCUMENT v3.25.4
Revenues
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues

Note 13—Revenue

Deferred revenues primarily represent unrecognized fees billed or collected for maintenance and professional services. Deferred revenues are recognized as (or when) we perform under the contract. Long-term deferred revenue of $42.1 million and $42.4 million, was included in other long-term liabilities as of December 31, 2025 and 2024, respectively, in our consolidated balance sheet. Deferred revenues are recorded on a net basis with contract assets at the contract level. Accordingly, as of December 31, 2025 and 2024, approximately $71.7 million and $72.3 million, respectively, of deferred revenue is presented net within contract assets arising from the same contracts. The amount of revenues recognized in the period that was included in the opening deferred revenues balance was $481.7 million for the year ended December 31, 2025.

As of December 31, 2025, revenue of approximately $1,051.5 million is expected to be recognized from remaining performance obligations for license, maintenance and related revenues, of which $547.9 million is expected to be recognized over the next twelve months and the remainder is expected to be recognized over a weighted average period of approximately two years.

Revenue Disaggregation

The following table disaggregates our revenues by geography (in millions):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Americas

 

$

4,654.0

 

 

$

4,409.6

 

 

$

4,126.8

 

Europe, Middle East and Africa

 

 

1,274.2

 

 

 

1,166.6

 

 

 

1,096.2

 

Asia-Pacific

 

 

344.0

 

 

 

305.8

 

 

 

279.8

 

Total

 

$

6,272.2

 

 

$

5,882.0

 

 

$

5,502.8

 

Revenue recognized from customers in the United States was $4,208.1 million, $4,067.6 million and $3,804.3 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The following table disaggregates our revenues by source (in millions):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Software-enabled services

 

$

5,211.1

 

 

$

4,840.3

 

 

$

4,488.3

 

Maintenance and term licenses

 

 

912.5

 

 

 

892.1

 

 

 

873.7

 

Professional services

 

 

103.8

 

 

 

97.0

 

 

 

110.2

 

Perpetual licenses

 

 

44.8

 

 

 

52.6

 

 

 

30.6

 

Total

 

$

6,272.2

 

 

$

5,882.0

 

 

$

5,502.8