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Revenue
 3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue

In the following tables, revenue is disaggregated by primary geographical market and type of revenue. The tables also include a reconciliation of the disaggregated revenue with the Company's reportable segments. Prior-period amounts have been recast to conform to the new reportable segment presentation as discussed in Note 11.
For the three months ended March 31, 2021 (in millions):
Reportable Segments
Capital
MerchantBankingMarketCorporate
SolutionsSolutionsSolutionsand OtherTotal
Primary Geographical Markets:
North America$681 $1,311 $370 $58 $2,420 
All others285 229 255 34 803 
Total$966 $1,540 $625 $92 $3,223 
Type of Revenue:
Recurring revenue:
Transaction processing and services$943 $1,164 $291 $84 $2,482 
Software maintenance1 88 127 — 216 
Other recurring20 38 24 3 85 
Total recurring964 1,290 442 87 2,783 
Software license1 24 68 — 93 
Professional services— 146 106 1 253 
Other non-recurring fees1 80 9 4 94 
Total$966 $1,540 $625 $92 $3,223 

For the three months ended March 31, 2020 (in millions):
Reportable Segments
Capital
MerchantBankingMarketCorporate
SolutionsSolutionsSolutionsand OtherTotal
Primary Geographical Markets:
North America$661 $1,242 $373 $72 $2,348 
All others274 202 224 30 730 
Total$935 $1,444 $597 $102 $3,078 
Type of Revenue:
Recurring revenue:
Transaction processing and services$911 $1,078 $278 $97 $2,364 
Software maintenance1 88 121 1 211 
Other recurring21 44 24 — 89 
Total recurring933 1,210 423 98 2,664 
Software license— 19 73 — 92 
Professional services— 143 101 2 246 
Other non-recurring fees2 72 — 2 76 
Total$935 $1,444 $597 $102 $3,078 
Contract Balances

The Company recognized revenue of $327 million and $338 million during the three months ended March 31, 2021 and 2020, 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, 2021, approximately $21.0 billion of revenue is estimated to be recognized in the future primarily 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 32% of the Banking Solutions and Capital Market Solutions segments' remaining performance obligations over the next 12 months, approximately another 22% 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.