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Revenue Recognition
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition
We track our revenue by product and by geography. See Note 16—Segment Disclosures for the revenue of each of our reportable segments, which are Ammonia, Granular Urea, UAN, AN and Other. The following table summarizes our revenue by product and by geography (based on destination of our shipment) for the three and six months ended June 30, 2024 and 2023:
AmmoniaGranular UreaUANANOtherTotal
(in millions)
Three months ended June 30, 2024
North America$330 $449 $422 $51 $114 $1,366 
Europe and other79 8 53 47 19 206 
Total revenue$409 $457 $475 $98 $133 $1,572 
Three months ended June 30, 2023
North America$460 $460 $463 $65 $120 $1,568 
Europe and other65 — 85 39 18 207 
Total revenue$525 $460 $548 $104 $138 $1,775 
Six months ended June 30, 2024
North America$664 $852 $795 $99 $216 $2,626 
Europe and other147 12 105 113 39 416 
Total revenue$811 $864 $900 $212 $255 $3,042 
Six months ended June 30, 2023
North America$790 $1,035 $982 $139 $246 $3,192 
Europe and other159 36 233 124 43 595 
Total revenue$949 $1,071 $1,215 $263 $289 $3,787 

As of June 30, 2024 and December 31, 2023, we had $8 million and $130 million, respectively, in customer advances on our consolidated balance sheets. During the six months ended June 30, 2024 and 2023, substantially all of the customer advances at the beginning of each respective period were recognized as revenue.
We offer cash incentives to certain customers generally based on the volume of their purchases over the fertilizer year ending June 30. Our cash incentives do not provide an option to the customer for additional product. The balances of customer incentives accrued as of June 30, 2024 and December 31, 2023 were not material.
We have certain customer contracts with performance obligations where if the customer does not take the required amount of product specified in the contract, then the customer is required to make a payment to us, the amount of which payment may vary based upon the terms and conditions of the applicable contract. As of June 30, 2024, excluding contracts with original durations of less than one year, and based on the minimum product tonnage to be sold and current market price estimates, our remaining performance obligations under these contracts were approximately $1.9 billion. We expect to recognize approximately 18% of these performance obligations as revenue in the remainder of 2024, approximately 19% as revenue during 2025-2027, approximately 17% as revenue during 2028-2030, and the remainder as revenue thereafter. Subject to the terms and conditions of the applicable contracts, if these customers do not satisfy their purchase obligations under such contracts, the minimum amount that they would be required to pay to us under such contracts, in the aggregate, was approximately $1.3 billion as of June 30, 2024. Other than the performance obligations described above, any performance obligations with our customers that were unfulfilled or partially filled at December 31, 2023 will be satisfied in 2024.