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Revenue
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
As a result of our ongoing portfolio assessments, the Company reclassified certain businesses from Capital Markets to Banking and to Corporate and Other during the quarter ended March 31, 2023, and reclassified certain non-strategic operations from Banking to Corporate and Other during the quarter ended December 31, 2023. The Company recast all prior-period segment information presented to reflect these reclassifications.

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.

For the year ended December 31, 2023 (in millions):
Banking
Solutions
Capital
Market
Solutions
Corporate and OtherTotal
Primary Geographical Markets:
North America$5,802 $1,712 $167 $7,681 
All others931 1,054 155 2,140 
Total$6,733 $2,766 $322 $9,821 
Type of Revenue:
Recurring revenue:
Transaction processing and services (1)$4,960 $1,381 $239 $6,580 
Software maintenance364 531 897 
Other recurring248 81 41 370 
Total recurring5,572 1,993 282 7,847 
Software license131 369 508 
Professional services562 391 962 
Other non-recurring (1)468 13 23 504 
Total$6,733 $2,766 $322 $9,821 
For the year ended December 31, 2022 (in millions):
Banking
Solutions
Capital
Market
Solutions
Corporate and OtherTotal
Primary Geographical Markets:
North America$5,709 $1,566 $284 $7,559 
All others915 1,065 180 2,160 
Total$6,624 $2,631 $464 $9,719 
Type of Revenue:
Recurring revenue:
Transaction processing and services (1)$4,785 $1,274 $384 $6,443 
Software maintenance358 498 858 
Other recurring210 58 38 306 
Total recurring5,353 1,830 424 7,607 
Software license160 377 — 537 
Professional services632 419 1,059 
Other non-recurring (1)479 32 516 
Total$6,624 $2,631 $464 $9,719 

For the year ended December 31, 2021 (in millions):
Banking
Solutions
Capital
Market
Solutions
Corporate and OtherTotal
Primary Geographical Markets:
North America$5,480 $1,445 $247 $7,172 
All others881 1,050 236 2,167 
Total$6,361 $2,495 $483 $9,339 
Type of Revenue:
Recurring revenue:
Transaction processing and services (1)$4,545 $1,136 $389 $6,070 
Software maintenance376 489 869 
Other recurring172 52 53 277 
Total recurring5,093 1,677 446 7,216 
Software license131 371 — 502 
Professional services600 437 10 1,047 
Other non-recurring (1)537 10 27 574 
Total$6,361 $2,495 $483 $9,339 

(1)    December 31, 2023, was the final deadline for states to complete all benefit issuance under federally funded pandemic relief programs. Accordingly, revenue associated with services the Company provided related to these programs has been classified as Other non-recurring commencing in the fourth quarter of 2023, and related prior-period amounts have been reclassified from Transaction processing and services to Other non-recurring for comparability. Revenue associated with services the Company provided related to these programs was $151 million, $112 million and $168 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Contract Balances

The Company recognized revenue of approximately $677 million, $696 million and $668 million, during the years ended December 31, 2023, 2022 and 2021, 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 December 31, 2023, approximately $23.5 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 30% of the Banking Solutions and Capital Market Solutions segments' remaining performance obligations over the next 12 months, approximately another 23% over the next 13 to 24 months, and the balance thereafter.