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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | In the following table, revenue is disaggregated by type of good or service and primary geographical market. The table also includes a reconciliation of the disaggregated revenue to total revenue.
| Three Months Ended June 30, 2026 |  | Three Months Ended June 30, 2025 (3)
(In millions) | Protein Solutions |  | Prepared Food and Beverage Solutions |  | Protein Solutions |  | Prepared Food and Beverage Solutions
Type of Good or Service |  |  |  |  |  |  |
Recurring (1) | $ | 239 |  |  | $ | 258 |  |  | $ | 228 |  |  | $ | 257 |
Non-recurring (1) | 228 |  |  | 256 |  |  | 193 |  |  | 257 |
Total | 467 |  |  | 514 |  |  | 421 |  |  | 514 |
Geographical Region (2) |  |  |  |  |  |  |
U.S. and Canada | 146 |  |  | 233 |  |  | 129 |  |  | 253 |
Europe, Middle East and Africa | 239 |  |  | 180 |  |  | 197 |  |  | 165 |
Asia Pacific | 41 |  |  | 40 |  |  | 48 |  |  | 53 |
Latin America | 41 |  |  | 61 |  |  | 47 |  |  | 43 |
Total | 467 |  |  | 514 |  |  | 421 |  |  | 514 |
| Six Months Ended June 30, 2026 |  | Six Months Ended June 30, 2025 (3)
(In millions) | Protein Solutions |  | Prepared Food and Beverage Solutions |  | Protein Solutions |  | Prepared Food and Beverage Solutions
Type of Good or Service |  |  |  |  |  |  |
Recurring (1) | $ | 474 |  |  | $ | 508 |  |  | $ | 437 |  |  | $ | 497 |
Non-recurring (1) | 453 |  |  | 482 |  |  | 362 |  |  | 493 |
Total | 927 |  |  | 990 |  |  | 799 |  |  | 990 |
Geographical Region (2) |  |  |  |  |  |  |
U.S. and Canada | 279 |  |  | 456 |  |  | 258 |  |  | 470 |
Europe, Middle East and Africa | 496 |  |  | 342 |  |  | 370 |  |  | 339 |
Asia Pacific | 70 |  |  | 79 |  |  | 85 |  |  | 93 |
Latin America | 82 |  |  | 113 |  |  | 86 |  |  | 88 |
Total | 927 |  |  | 990 |  |  | 799 |  |  | 990 |
(1) Recurring revenue includes revenue from aftermarket parts and services, re-build services on customer owned equipment, operating leases of equipment, and subscription-based software applications. Non-recurring revenue includes new equipment and installation and the sale of software licenses. (2) Geographical region represents the region in which the end customer resides. (3) Segment revenues for the three and six months ended June 30, 2025 were recast to reflect the Company’s realignment of its reportable segments, effective in the fourth quarter of 2025.
Contract with Customer, Asset and Liability | Contract asset and liability balances for the period were as follows:
| Balances as of
(In millions) | June 30, 2026 |  | December 31, 2025
Contract Assets | $ | 144 |  |  | $ | 119 |
Contract Liabilities | 545 |  |  | 499 |
| June 30, 2025 |  | December 31, 2024
Contract Assets | 129 |  |  | 95 |
Contract Liabilities | 508 |  |  | 178 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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