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Revenue Recognition | 6 Months Ended
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Jun. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time. Disaggregation of Revenue The tables below present the Company’s revenue disaggregated by major business, including a reconciliation with its reportable segments. Most of the Company’s revenue is earned domestically within these major businesses, with revenue from clients outside the United States comprising approximately 6% and 5% of total revenue for the six months ended June 30, 2019 and 2018, respectively.
(In millions) | Reportable Segments
Three Months Ended June 30, 2019 | Payments |  | Financial |  | Corporate and Other |  | Total
Major Business |  |  |  |  |  |  |
Digital Money Movement | $ | 362 |  |  | $ | — |  |  | $ | — |  |  | $ | 362 |
Card and Related Services | 469 |  |  | — |  |  | — |  |  | 469 |
Other | 86 |  |  | — |  |  | — |  |  | 86 |
Total Payments | 917 |  |  | — |  |  | — |  |  | 917 |
Account and Item Processing | — |  |  | 526 |  |  | — |  |  | 526 |
Other | — |  |  | 78 |  |  | — |  |  | 78 |
Total Financial | — |  |  | 604 |  |  | — |  |  | 604 |
Corporate and Other | — |  |  | — |  |  | (9 | ) |  | (9 | )
Total Revenue | $ | 917 |  |  | $ | 604 |  |  | $ | (9 | ) |  | $ | 1,512 |
(In millions) | Reportable Segments
Three Months Ended June 30, 2018 | Payments |  | Financial |  | Corporate and Other |  | Total
Major Business |  |  |  |  |  |  |
Digital Money Movement | $ | 356 |  |  | $ | — |  |  | $ | — |  |  | $ | 356 |
Card and Related Services | 400 |  |  | — |  |  | — |  |  | 400 |
Other | 81 |  |  | — |  |  | — |  |  | 81 |
Total Payments | 837 |  |  | — |  |  | — |  |  | 837 |
Account and Item Processing | — |  |  | 530 |  |  | — |  |  | 530 |
Other | — |  |  | 60 |  |  | — |  |  | 60 |
Total Financial | — |  |  | 590 |  |  | — |  |  | 590 |
Corporate and Other | — |  |  | — |  |  | (7 | ) |  | (7 | )
Total Revenue | $ | 837 |  |  | $ | 590 |  |  | $ | (7 | ) |  | $ | 1,420 |
(In millions) | Reportable Segments
Six Months Ended June 30, 2019 | Payments |  | Financial |  | Corporate and Other |  | Total
Major Business |  |  |  |  |  |  |
Digital Money Movement | $ | 729 |  |  | $ | — |  |  | $ | — |  |  | $ | 729 |
Card and Related Services | 938 |  |  | — |  |  | — |  |  | 938 |
Other | 164 |  |  | — |  |  | — |  |  | 164 |
Total Payments | 1,831 |  |  | — |  |  | — |  |  | 1,831 |
Account and Item Processing | — |  |  | 1,059 |  |  | — |  |  | 1,059 |
Other | — |  |  | 143 |  |  | — |  |  | 143 |
Total Financial | — |  |  | 1,202 |  |  | — |  |  | 1,202 |
Corporate and Other | — |  |  | — |  |  | (19 | ) |  | (19 | )
Total Revenue | $ | 1,831 |  |  | $ | 1,202 |  |  | $ | (19 | ) |  | $ | 3,014 |
(In millions) | Reportable Segments
Six Months Ended June 30, 2018 | Payments |  | Financial |  | Corporate and Other |  | Total
Major Business |  |  |  |  |  |  |
Digital Money Movement | $ | 708 |  |  | $ | — |  |  | $ | — |  |  | $ | 708 |
Card and Related Services | 814 |  |  | — |  |  | — |  |  | 814 |
Other | 157 |  |  | — |  |  | — |  |  | 157 |
Total Payments | 1,679 |  |  | — |  |  | — |  |  | 1,679 |
Account and Item Processing | — |  |  | 1,036 |  |  | — |  |  | 1,036 |
Lending Solutions | — |  |  | 56 |  |  | — |  |  | 56 |
Other | — |  |  | 114 |  |  | — |  |  | 114 |
Total Financial | — |  |  | 1,206 |  |  | — |  |  | 1,206 |
Corporate and Other | — |  |  | — |  |  | (25 | ) |  | (25 | )
Total Revenue | $ | 1,679 |  |  | $ | 1,206 |  |  | $ | (25 | ) |  | $ | 2,860 |
Contract Balances The following table provides information about contract assets and contract liabilities from contracts with customers.
(In millions) | June 30, 2019 |  | December 31, 2018
Contract assets | $ | 204 |  |  | $ | 171 |
Contract liabilities | 466 |  |  | 469 |
Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily result from revenue being recognized where payment is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company recognized $248 million of revenue during the six months ended June 30, 2019 that was included in the contract liability balance at the beginning of the period, which exceeded advance cash receipts for services yet to be provided. Transaction Price Allocated to Remaining Performance Obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.
(In millions) | Remainder of: |  |  |  |  |  |  |  |
June 30, 2019 | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter
Processing and services | $ | 549 |  |  | $ | 943 |  |  | $ | 772 |  |  | $ | 560 |  |  | $ | 746 |
Product | 16 |  |  | 31 |  |  | 22 |  |  | 12 |  |  | 11 |
The Company applies the optional exemption in paragraph 606-10-50-14(b) and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition in accordance with paragraph 606-10-55-18. These contracts generally have terms of three to five years, and contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional exemptions in paragraph 606-10-50-14A and does not disclose information for variable consideration, including additional seat licenses, that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year.

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- References No definition available. + Details
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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