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Revenue Recognition
 9 Months Ended
Sep. 30, 2021
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 Company’s operations are comprised of the Merchant Acceptance (“Acceptance”) segment, the Financial Technology (“Fintech”) segment and the Payments and Network (“Payments”) segment. Additional information regarding the Company’s business segments is included in Note 19. The tables below present the Company’s revenue disaggregated by type of revenue, including a reconciliation with its reportable segments. The majority of the Company’s revenue is earned domestically, with revenue generated outside the U.S. comprising approximately 14% of total revenue for each of the three months ended September 30, 2021 and 2020, and 14% and 13% of total revenue for the nine months ended September 30, 2021 and 2020, respectively.
(In millions)Reportable Segments
Three Months Ended September 30, 2021 AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,446 $389 $1,132 $4 $2,971 
Hardware, print and card production232 10 236 — 478 
Professional services12 124 66 — 202 
Software maintenance— 139 2 — 141 
License and termination fees12 45 16 — 73 
Output solutions postage— — — 209 209 
Other14 54 19 2 89 
Total Revenue$1,716 $761 $1,471 $215 $4,163 
(In millions)Reportable Segments
Three Months Ended September 30, 2020AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,245 $364 $1,112 $9 $2,730 
Hardware, print and card production179 12 176 — 367 
Professional services9 120 59 — 188 
Software maintenance— 141 1 — 142 
License and termination fees7 41 21 — 69 
Output solutions postage— — — 207 207 
Other14 49 18 2 83 
Total Revenue$1,454 $727 $1,387 $218 $3,786 
(In millions)Reportable Segments
Nine Months Ended September 30, 2021 AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$4,044 $1,152 $3,331 $26 $8,553 
Hardware, print and card production636 33 667 — 1,336 
Professional services30 350 195 — 575 
Software maintenance— 417 6 — 423 
License and termination fees33 133 43 — 209 
Output solutions postage— — — 616 616 
Other36 166 55 — 257 
Total Revenue$4,779 $2,251 $4,297 $642 $11,969 

(In millions)Reportable Segments
Nine Months Ended September 30, 2020AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$3,466 $1,064 $3,265 $47 $7,842 
Hardware, print and card production531 33 528 — 1,092 
Professional services20 347 174 1 542 
Software maintenance— 423 2 2 427 
License and termination fees19 139 61 — 219 
Output solutions postage— — — 640 640 
Other42 153 63 — 258 
Total Revenue$4,078 $2,159 $4,093 $690 $11,020 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)September 30, 2021December 31, 2020
Contract assets$531 $433 
Contract liabilities733 733 
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 $469 million of revenue during the nine months ended September 30, 2021 that was included in the contract liability balance at the beginning of the period.
Transaction Price Allocated to Remaining Performance Obligations
The following table includes estimated processing, services and product revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) at September 30, 2021:
(In millions)
Year Ending December 31,
Remainder of 2021$550 
20221,997 
20231,675 
20241,288 
Thereafter2,216 
The Company applies the optional exemption under Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”) and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts 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 under ASC 606 and does not disclose information for variable consideration 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.