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v3.23.1

Revenue (Tables) | 3 Months Ended
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Mar. 31, 2023
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table illustrates the sources of revenue:
| Three Months Ended |  |
| March 31, |  |
(in millions) | 2023 |  | 2022 |  |  |  |
Revenue from contracts with customers | $ | 1,383 |  |  | $ | 1,222 |  |  |  |  |
Lease Revenue | 65 |  |  | 50 |  |  |  |  |
Total | $ | 1,448 |  |  | $ | 1,272 |  |  |  |  |
The following table reflects revenue from contracts with customers by application.
| Three Months Ended |  |
| March 31, |  |
(in millions) | 2023 |  | 2022 |  |  |  |
Water Infrastructure |  |  |  |  |  |  |
Transport | $ | 436 |  |  | $ | 393 |  |  |  |  |
Treatment | 88 |  |  | 90 |  |  |  |  |
Applied Water |  |  |  |  |  |  |
Commercial Building Services | 183 |  |  | 161 |  |  |  |  |
Residential Building Services | 70 |  |  | 73 |  |  |  |  |
Industrial Water | 200 |  |  | 191 |  |  |  |  |
Measurement & Control Solutions |  |  |  |  |  |  |
Water | 334 |  |  | 265 |  |  |  |  |
Energy | 72 |  |  | 49 |  |  |  |  |
Total | $ | 1,383 |  |  | $ | 1,222 |  |  |  |  |
The following table reflects revenue from contracts with customers by geographical region.
| Three Months Ended |  |
| March 31, |  |
(in millions) | 2023 |  | 2022 |  |  |  |
Water Infrastructure |  |  |  |  |  |  |
United States | $ | 176 |  |  | $ | 147 |  |  |  |  |
Western Europe | 190 |  |  | 186 |  |  |  |  |
Emerging Markets (a) | 105 |  |  | 101 |  |  |  |  |
Other | 53 |  |  | 49 |  |  |  |  |
Applied Water |  |  |  |  |  |  |
United States | 244 |  |  | 221 |  |  |  |  |
Western Europe | 104 |  |  | 94 |  |  |  |  |
Emerging Markets (a) | 73 |  |  | 80 |  |  |  |  |
Other | 32 |  |  | 30 |  |  |  |  |
Measurement & Control Solutions |  |  |  |  |  |  |
United States | 257 |  |  | 181 |  |  |  |  |
Western Europe | 77 |  |  | 69 |  |  |  |  |
Emerging Markets (a) | 48 |  |  | 44 |  |  |  |  |
Other | 24 |  |  | 20 |  |  |  |  |
Total | $ | 1,383 |  |  | $ | 1,222 |  |  |  |  |
(a)Emerging Markets includes results from the following regions: Eastern Europe, the Middle East and Africa, Latin America and Asia Pacific (excluding Japan, Australia and New Zealand, which are presented in "Other")
Contract with Customer, Asset and Liability | The table below provides contract assets, contract liabilities, and significant changes in contract assets and liabilities:
(in millions) | Contract Assets (a) | Contract Liabilities |  |  |  |
Balance at January 1, 2023 | $ | 151 |  | $ | 183 |  |  |  |  |
Additions, net | 48 |  | 58 |  |  |  |  |
Revenue recognized from opening balance | — |  | (50) |  |  |  |  |
Billings transferred to accounts receivable | (48) |  | — |  |  |  |  |
Foreign currency and other | — |  | — |  |  |  |  |
Balance at March 31, 2023 | $ | 151 |  | $ | 191 |  |  |  |  |
Balance at January 1, 2022 | $ | 125 |  | $ | 164 |  |  |  |  |
Additions, net | 34 |  | 62 |  |  |  |  |
Revenue recognized from opening balance | — |  | (50) |  |  |  |  |
Billings transferred to accounts receivable | (39) |  | — |  |  |  |  |
Foreign currency and other | (2) |  | (1) |  |  |  |  |
Balance at March 31, 2022 | $ | 118 |  | $ | 175 |  |  |  |  |
(a)Excludes receivable balances, which are disclosed on the Condensed Consolidated Balance Sheets

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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