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 March 31, 2019 (in millions):



	Reportable Segments
					Corporate
	IFS		GFS		and Other		Total
Primary Geographical Markets:
North America	$	1,086	$	441	$	52	$	1,579
All others	43		422		13		478
Total	$	1,129	$	863	$	65	$	2,057

Type of Revenue:
Processing and services	$	911	$	463	$	60	$	1,434
License and software related	85		250		—		335
Professional services	41		146		2		189
Hardware and other	92		4		3		99
Total	$	1,129	$	863	$	65	$	2,057

Recurring Nature of Revenue Recognition:
Recurring fees	$	993	$	617	$	60	$	1,670
Non-recurring fees	136		246		5		387
Total	$	1,129	$	863	$	65	$	2,057

For the three months ended March 31, 2018 (in millions):



	Reportable Segments
					Corporate
	IFS		GFS		and Other		Total
Primary Geographical Markets:
North America	$	1,017	$	453	$	64	$	1,534
All others	44		474		14		532
Total	$	1,061	$	927	$	78	$	2,066

Type of Revenue:
Processing and services	$	896	$	542	$	75	$	1,513
License and software related	86		247		—		333
Professional services	37		138		2		177
Hardware and other	42		—		1		43
Total	$	1,061	$	927	$	78	$	2,066

Recurring Nature of Revenue Recognition:
Recurring fees	$	951	$	699	$	75	$	1,725
Non-recurring fees	110		228		3		341
Total	$	1,061	$	927	$	78	$	2,066

Contract Balances

The Company recognized revenue of $321 million and $282 million during the three months ended March 31, 2019 and 2018, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods.

Transaction Price Allocated to the Remaining Performance Obligations

As of March 31, 2019, approximately $20.0 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.