XML 41 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenue
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
As a result of the Company's 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, 2024 (in millions):
Banking
Solutions		Capital
Market
Solutions		Corporate and OtherTotal
Primary Geographical Markets:
North America$5,893 $1,839 $117 $7,849 
All others999 1,140 139 2,278 
Total$6,892 $2,979 $256 $10,127 
Type of Revenue:
Recurring revenue:
Transaction processing and services$5,146 $1,507 $207 $6,860 
Software maintenance362 576 2 940 
Other recurring244 62 3 309 
Total recurring5,752 2,145 212 8,109 
Software license196 431 1 628 
Professional services551 399 4 954 
Other non-recurring393 4 39 436 
Total$6,892 $2,979 $256 $10,127 
For the year ended December 31, 2023 (in millions):
Banking
Solutions		Capital
Market
Solutions		Corporate and OtherTotal
Primary Geographical Markets:
North America$5,812 $1,712 $167 $7,691 
All others931 1,054 155 2,140 
Total$6,743 $2,766 $322 $9,831 
Type of Revenue:
Recurring revenue:
Transaction processing and services (1) (2)$4,981 $1,409 $276 $6,666 
Software maintenance364 531 2 897 
Other recurring (2)227 53 4 284 
Total recurring5,572 1,993 282 7,847 
Software license131 369 8 508 
Professional services562 391 9 962 
Other non-recurring (1)478 13 23 514 
Total$6,743 $2,766 $322 $9,831 

For the year ended December 31, 2022 (in millions):
Banking
Solutions		Capital
Market
Solutions		Corporate and OtherTotal
Primary Geographical Markets:
North America$5,710 $1,566 $284 $7,560 
All others915 1,065 180 2,160 
Total$6,625 $2,631 $464 $9,720 
Type of Revenue:
Recurring revenue:
Transaction processing and services (1) (2)$4,806 $1,300 $421 $6,527 
Software maintenance358 498 2 858 
Other recurring (2)189 32 1 222 
Total recurring5,353 1,830 424 7,607 
Software license160 377 — 537 
Professional services632 419 8 1,059 
Other non-recurring (1)480 5 32 517 
Total$6,625 $2,631 $464 $9,720 

(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 and $112 million for the years ended December 31, 2023 and 2022, respectively.
(2)    Revenue related primarily to software licenses requiring frequent, integral updates has been classified as Transaction processing and services revenue commencing in the quarter ended December 31, 2024, and related prior-period amounts have been reclassified from Other recurring revenue to Transaction processing and services for comparability. Revenue reclassified for the year ended December 31, 2023, was $21 million, $28 million and $37 million within Banking, Capital Markets and Corporate and Other, respectively. Revenue reclassified for the year ended December 31, 2022, was $21 million, $26 million and $37 million within Banking, Capital Markets and Corporate and Other, respectively.
Contract Balances

The Company recognized revenue of approximately $728 million, $677 million and $696 million, during the years ended December 31, 2024, 2023 and 2022, 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, 2024, approximately $23.5 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 32% of our remaining performance obligations over the next 12 months, approximately another 24% over the next 13 to 24 months, and the balance thereafter.