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Revenue | 6 Months Ended
--- | ---
Jun. 30, 2018
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregation of Revenue In the following tables, revenue is disaggregated by primary geographical market, type of revenue, and recurring nature of revenue recognized. The tables also include a reconciliation of the disaggregated revenue with the Company’s reportable segments. For the three months ended June 30, 2018 (in millions):
|  | Reportable Segments
|  |  |  |  |  | Corporate |  |
|  | IFS |  | GFS |  | and Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |  |
North America |  | $ | 1,079 |  |  | $ | 434 |  |  | $ | 71 |  |  | $ | 1,584 |
All others |  | 45 |  |  | 465 |  |  | 12 |  |  | 522 |
Total |  | $ | 1,124 |  |  | $ | 899 |  |  | $ | 83 |  |  | $ | 2,106 |
Type of Revenue: |  |  |  |  |  |  |  |
Processing and services |  | $ | 936 |  |  | $ | 521 |  |  | $ | 73 |  |  | $ | 1,530 |
License and software related |  | 92 |  |  | 228 |  |  | — |  |  | 320 |
Professional services |  | 43 |  |  | 150 |  |  | 2 |  |  | 195 |
Hardware and other |  | 53 |  |  | — |  |  | 8 |  |  | 61 |
Total |  | $ | 1,124 |  |  | $ | 899 |  |  | $ | 83 |  |  | $ | 2,106 |
Recurring Nature of Revenue Recognition: |  |  |  |  |  |  |  |
Recurring fees |  | $ | 991 |  |  | $ | 680 |  |  | $ | 73 |  |  | $ | 1,744 |
Non-recurring fees |  | 133 |  |  | 219 |  |  | 10 |  |  | 362 |
Total |  | $ | 1,124 |  |  | $ | 899 |  |  | $ | 83 |  |  | $ | 2,106 |
For the six months ended June 30, 2018 (in millions):
|  | Reportable Segments
|  |  |  |  |  | Corporate |  |
|  | IFS |  | GFS |  | and Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |  |
North America |  | $ | 2,096 |  |  | $ | 886 |  |  | $ | 135 |  |  | $ | 3,117 |
All others |  | 89 |  |  | 940 |  |  | 26 |  |  | 1,055 |
Total |  | $ | 2,185 |  |  | $ | 1,826 |  |  | $ | 161 |  |  | $ | 4,172 |
Type of Revenue: |  |  |  |  |  |  |  |
Processing and services |  | $ | 1,831 |  |  | $ | 1,064 |  |  | $ | 147 |  |  | $ | 3,042 |
License and software related |  | 178 |  |  | 475 |  |  | 1 |  |  | 654 |
Professional services |  | 80 |  |  | 287 |  |  | 4 |  |  | 371 |
Hardware and other |  | 96 |  |  | — |  |  | 9 |  |  | 105 |
Total |  | $ | 2,185 |  |  | $ | 1,826 |  |  | $ | 161 |  |  | $ | 4,172 |
Recurring Nature of Revenue Recognition: |  |  |  |  |  |  |  |
Recurring fees |  | $ | 1,942 |  |  | $ | 1,379 |  |  | $ | 148 |  |  | $ | 3,469 |
Non-recurring fees |  | 243 |  |  | 447 |  |  | 13 |  |  | 703 |
Total |  | $ | 2,185 |  |  | $ | 1,826 |  |  | $ | 161 |  |  | $ | 4,172 |
For the three months ended June 30, 2017 (in millions):
|  | Reportable Segments
|  | As Adjusted
|  |  |  |  |  | Corporate |  |
|  | IFS |  | GFS |  | and Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |  |
North America |  | $ | 1,049 |  |  | $ | 519 |  |  | $ | 73 |  |  | $ | 1,641 |
All others |  | 38 |  |  | 567 |  |  | 12 |  |  | 617 |
Total |  | $ | 1,087 |  |  | $ | 1,086 |  |  | $ | 85 |  |  | $ | 2,258 |
Type of Revenue: |  |  |  |  |  |  |  |
Processing and services |  | $ | 884 |  |  | $ | 556 |  |  | $ | 80 |  |  | $ | 1,520 |
License and software related |  | 102 |  |  | 246 |  |  | 1 |  |  | 349 |
Professional services |  | 56 |  |  | 284 |  |  | 2 |  |  | 342 |
Hardware and other |  | 45 |  |  | — |  |  | 2 |  |  | 47 |
Total |  | $ | 1,087 |  |  | $ | 1,086 |  |  | $ | 85 |  |  | $ | 2,258 |
Recurring Nature of Revenue Recognition: |  |  |  |  |  |  |  |
Recurring fees |  | $ | 939 |  |  | $ | 710 |  |  | $ | 79 |  |  | $ | 1,728 |
Non-recurring fees |  | 148 |  |  | 376 |  |  | 6 |  |  | 530 |
Total |  | $ | 1,087 |  |  | $ | 1,086 |  |  | $ | 85 |  |  | $ | 2,258 |
For the six months ended June 30, 2017 (in millions):
|  | Reportable Segments
|  | As Adjusted
|  |  |  |  |  | Corporate |  |
|  | IFS |  | GFS |  | and Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |  |
North America |  | $ | 2,048 |  |  | $ | 1,009 |  |  | $ | 168 |  |  | $ | 3,225 |
All others |  | 76 |  |  | 1,080 |  |  | 25 |  |  | 1,181 |
Total |  | $ | 2,124 |  |  | $ | 2,089 |  |  | $ | 193 |  |  | $ | 4,406 |
Type of Revenue: |  |  |  |  |  |  |  |
Processing and services |  | $ | 1,734 |  |  | $ | 1,106 |  |  | $ | 167 |  |  | $ | 3,007 |
License and software related |  | 196 |  |  | 447 |  |  | 13 |  |  | 656 |
Professional services |  | 104 |  |  | 536 |  |  | 8 |  |  | 648 |
Hardware and other |  | 90 |  |  | — |  |  | 5 |  |  | 95 |
Total |  | $ | 2,124 |  |  | $ | 2,089 |  |  | $ | 193 |  |  | $ | 4,406 |
Recurring Nature of Revenue Recognition: |  |  |  |  |  |  |  |
Recurring fees |  | $ | 1,852 |  |  | $ | 1,409 |  |  | $ | 174 |  |  | $ | 3,435 |
Non-recurring fees |  | 272 |  |  | 680 |  |  | 19 |  |  | 971 |
Total |  | $ | 2,124 |  |  | $ | 2,089 |  |  | $ | 193 |  |  | $ | 4,406 |
Contract Balances The following table provides information about trade receivables, contract assets, and deferred revenues from contracts with customers (in millions).
|  | As of
|  | June 30, |  | December 31,
|  | 2018 |  | 2017
|  |  |  | As adjusted
Trade receivables |  | $ | 1,408 |  |  | $ | 1,624 |
Contract assets (current) |  | 109 |  |  | 108 |
Contract assets (non-current), included in other noncurrent assets |  | 98 |  |  | 118 |
Deferred revenues (current) |  | 766 |  |  | 776 |
Deferred revenues (non-current) |  | 103 |  |  | 106 |
The payment terms and conditions in our customer contracts may vary. In some cases, customers pay in advance of our delivery of solutions or services; in other cases, payment is due as services are performed or in arrears following the delivery of the solutions or services. Differences in timing between revenue recognition and invoicing result in accrued trade receivables, contract assets, or deferred revenues on our Condensed Consolidated Balance Sheets. Receivables are accrued when revenue is recognized prior to invoicing but the right to payment is unconditional (i.e., only the passage of time is required). This occurs most commonly when software term licenses recognized at a point in time are paid for periodically over the license term. Contract assets result when amounts allocated to distinct performance obligations are recognized when or as control of a solution or service is transferred to the customer but invoicing is contingent on performance of other performance obligations or on completion of contractual milestones. Contract assets are transferred to receivables when the rights become unconditional, typically upon invoicing of the related performance obligations in the contract or upon achieving the requisite project milestone. Deferred revenues result from customer payments in advance of our satisfaction of the associated performance obligation(s) and relate primarily to prepaid maintenance or other recurring services. Deferred revenues are relieved as revenue is recognized. Contract assets and deferred revenues are reported on a contract-by-contract basis at the end of each reporting period. Changes in the contract assets and deferred revenues balances during the six months ended June 30, 2018 were not materially impacted by any factors other than those described above. The Company recognized revenue of $170 million and $169 million during the three months and $452 million and $413 million during the six months ended June 30, 2018 and 2017, respectively, that was included in the corresponding deferred revenues balance at the beginning of the periods. During the three and six months ended June 30, 2018 and 2017, amounts recognized from performance obligations satisfied (or partially satisfied) in prior periods were insignificant. Transaction Price Allocated to the Remaining Performance Obligations As of June 30, 2018, approximately $19.5 billion of revenue is estimated to be recognized in the future from the Company’s remaining unfulfilled performance obligations, which are primarily comprised of recurring account- and volume-based processing services. This excludes the amount of anticipated recurring renewals not yet contractually obligated. The Company expects to recognize approximately 35% of our remaining performance obligations over the next 12 months, approximately another 25% over the next 13 to 24 months, and the balance thereafter.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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