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Accounts Receivable and Contract Balances (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Accounts Receivable | The following table details the total accounts receivable recognized and the related classification on the Consolidated Balance Sheets:
|  | December 31,
|  | 2023 |  | 2022
Accounts receivable, current(1) |  | $ | 4,567.5 |  |  | $ | 4,461.3 |
Accounts receivable, noncurrent(2) |  | 337.5 |  |  | 203.0 |
Total accounts receivable |  | $ | 4,905.0 |  |  | $ | 4,664.3 |
(1)Accounts receivable, current are presented within Accounts receivable, net of allowance for credit losses on the Consolidated Balance Sheets. (2)Accounts receivable, noncurrent are presented within Other assets on the Consolidated Balance Sheets.
Accounts Receivable, Allowance for Credit Loss | The following table details the changes in the allowance for credit losses related to accounts receivable:
|  | As of December 31,
|  | 2023 |  | 2022
Balance as of January 1 |  | $ | 25.7 |  |  | $ | 20.4 |
Increase to provision for credit losses |  | 14.9 |  |  | 8.3 |
Write-offs charged against the allowance for credit losses |  | (14.5) |  |  | (6.0) |
Other |  | 2.7 |  |  | 3.0 |
Balance as of December 31 |  | $ | 28.8 |  |  | $ | 25.7 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable | The following table details information about the Company’s contract balances recognized on the Consolidated Balance Sheets:
|  | December 31,
|  | 2023 |  | 2022
Contract assets(1) |  | $ | 111.8 |  |  | $ | 242.1 |
Contract liabilities(2)(3) |  | 527.4 |  |  | 525.3 |
(1)Contract assets are presented within Prepaid expenses and other on the Consolidated Balance Sheets. (2)Includes $40 million and $40 million of long-term contract liabilities that are presented within Other liabilities on the Consolidated Balance Sheets as of December 31, 2023 and 2022, respectively. (3)For the years ended December 31, 2023 and 2022, the Company recognized revenue of $329 million and $238 million, respectively, related to its contract liabilities that were included in the beginning balance of the respective periods.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The following table represents the total transaction price for the remaining performance obligations as of December 31, 2023 related to non-cancelable contracts longer than 12 months in duration that is expected to be recognized over future periods.
|  | Within 1 Year |  | Years 1-2 |  | Years 2-3 |  | Thereafter
Remaining performance obligations |  | $ | 90.9 |  |  | $ | 52.4 |  |  | $ | 25.0 |  |  | $ | 5.8 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 + Details
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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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