Revenue

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

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. Prior-period amounts have been reclassified to conform to the new reportable segment presentation as discussed in Note 13.

For the three months ended September 30, 2019 (in millions):



	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	501	$	1,264	$	378	$	—	$	2,143
All others	219		227		233		—		679
Total	$	720	$	1,491	$	611	$	—	$	2,822

Type of Revenue:
Processing and services	$	704	$	1,138	$	292	$	—	$	2,134
License and software related	1		153		223		—		377
Professional services	—		112		95		—		207
Hardware and other	15		88		1		—		104
Total	$	720	$	1,491	$	611	$	—	$	2,822

Recurring Nature of Revenue Recognition:
Recurring fees	$	717	$	1,244	$	426	$	—	$	2,387
Non-recurring fees	3		247		185		—		435
Total	$	720	$	1,491	$	611	$	—	$	2,822

For the nine months ended September 30, 2019 (in millions):



	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	647	$	3,616	$	1,112	$	—	$	5,375
All others	249		701		666		—		1,616
Total	$	896	$	4,317	$	1,778	$	—	$	6,991

Type of Revenue:
Processing and services	$	866	$	3,314	$	864	$	—	$	5,044
License and software related	8		410		635		—		1,053
Professional services	—		328		274		—		602
Hardware and other	22		265		5		—		292
Total	$	896	$	4,317	$	1,778	$	—	$	6,991

Recurring Nature of Revenue Recognition:
Recurring fees	$	885	$	3,610	$	1,266	$	—	$	5,761
Non-recurring fees	11		707		512		—		1,230
Total	$	896	$	4,317	$	1,778	$	—	$	6,991

For the three months ended September 30, 2018 (in millions):



	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	34	$	1,152	$	370	$	12	$	1,568
All others	16		281		219		—		516
Total	$	50	$	1,433	$	589	$	12	$	2,084

Type of Revenue:
Processing and services	$	47	$	1,124	$	274	$	12	$	1,457
License and software related	—		127		220		—		347
Professional services	—		99		94		—		193
Hardware and other	3		83		1		—		87
Total	$	50	$	1,433	$	589	$	12	$	2,084

Recurring Nature of Revenue Recognition:
Recurring fees	$	49	$	1,221	$	409	$	12	$	1,691
Non-recurring fees	1		212		180		—		393
Total	$	50	$	1,433	$	589	$	12	$	2,084

For the nine months ended September 30, 2018 (in millions):



	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	157	$	3,379	$	1,108	$	43	$	4,687
All others	48		859		662		—		1,569
Total	$	205	$	4,238	$	1,770	$	43	$	6,256

Type of Revenue:
Processing and services	$	195	$	3,399	$	857	$	43	$	4,494
License and software related	2		360		638		—		1,000
Professional services	—		292		272		—		564
Hardware and other	8		187		3		—		198
Total	$	205	$	4,238	$	1,770	$	43	$	6,256

Recurring Nature of Revenue Recognition:
Recurring fees	$	202	$	3,653	$	1,263	$	43	$	5,161
Non-recurring fees	3		585		507		—		1,095
Total	$	205	$	4,238	$	1,770	$	43	$	6,256

Contract Balances

The Company recognized revenue of $128 million and $178 million during the three months and $636 million and $629 million during the nine months ended September 30, 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 September 30, 2019, approximately $20.0 billion of revenue is estimated to be recognized in the future from the Banking Solutions and Capital Market Solutions segments' 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 the Banking Solutions and Capital Market Solutions segments' remaining performance obligations over the next 12 months, approximately another 25% over the next 13 to 24 months, and the balance thereafter.

As permitted by ASC 606, Revenue from Contracts with Customers, the Company has elected to exclude from this disclosure an estimate for the Merchant Solutions segment, which is primarily comprised of contracts with an original duration of one year or less or variable consideration that meet specific criteria. This segment’s core performance obligations consist of variable consideration under a stand-ready series of distinct days of service, and revenue from the segment’s products and service arrangements are generally billed and recognized as the services are performed. The aggregate fixed consideration portion of customer contracts with an initial contract duration greater than one year is not material.