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Revenue Recognition
 3 Months Ended
Mar. 31, 2022
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% and 13% of total revenue in the three months ended March 31, 2022 and 2021.
(In millions)Reportable Segments
Three Months Ended March 31, 2022 AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,403 $405 $1,113 $6 $2,927 
Hardware, print and card production225 9 236 — 470 
Professional services5 116 62 — 183 
Software maintenance— 138 6 — 144 
License and termination fees14 48 26 — 88 
Output solutions postage— — — 239 239 
Other6 62 19 — 87 
Total revenue$1,653 $778 $1,462 $245 $4,138 
(In millions)Reportable Segments
Three Months Ended March 31, 2021AcceptanceFintechPaymentsCorporate
and Other		Total
Type of Revenue
Processing$1,178 $378 $1,077 $12 $2,645 
Hardware, print and card production190 11 232 — 433 
Professional services9 111 63 — 183 
Software maintenance— 139 2 — 141 
License and termination fees10 38 13 — 61 
Output solutions postage— — — 205 205 
Other10 59 18 — 87 
Total revenue$1,397 $736 $1,405 $217 $3,755 
Contract Balances
The following table provides information about contract assets and contract liabilities from contracts with customers:
(In millions)March 31, 2022December 31, 2021
Contract assets$566 $541 
Contract liabilities841 810 
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 $203 million of revenue during the three months ended March 31, 2022 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 March 31, 2022:
(In millions)
Year Ending December 31,
Remainder of 2022$1,641 
20231,911 
20241,541 
20251,080 
Thereafter1,528 
The Company applies the optional exemption under 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.