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REVENUES (Tables) | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Contract with Customer, Contract Asset | The following table summarizes our contract assets:
(in millions) | June 30, 2023 | December 31, 2022
Contract manufacturing services | $ | 4 |  | $ | 10 |
Software sales | 43 |  | 43 |
Bundled equipment and consumable medical products contracts | 116 |  | 121 |
Contract assets | $ | 163 |  | $ | 174 |
The following table summarizes contract liability activity for the six months ended June 30, 2023 and 2022. The contract liability balance represents the transaction price allocated to the remaining performance obligations.
| Six Months Ended June 30,
(in millions) | 2023 | 2022
Balance at beginning of period | $ | 194 |  | $ | 196 |
New revenue deferrals | 271 |  | 282 |
Revenue recognized upon satisfaction of performance obligations | (267) |  | (289) |
Currency translation | 1 |  | (5) |
Balance at end of period | $ | 199 |  | $ | 184 |
For the six months ended June 30, 2023 and 2022, $64 million and $77 million of revenue was recognized that was included in contract liabilities as of December 31, 2022 and 2021, respectively. The following table summarizes the classification of contract assets and contract liabilities as reported in the condensed consolidated balance sheets:
(in millions) | June 30, 2023 | December 31, 2022
Prepaid expenses and other current assets | $ | 49 |  | $ | 52 |
Other non-current assets | 114 |  | 122 |
Contract assets | $ | 163 |  | $ | 174 |
Accrued expenses and other current liabilities | $ | 158 |  | $ | 154 |
Other non-current liabilities | 41 |  | 40 |
Contract liabilities | $ | 199 |  | $ | 194 |
Net Sales from Contracts with Customers by Global Business Unit | The following tables disaggregate our net sales from contracts with customers by product category between the U.S. and international:
| Three Months Ended June 30,
| 2023 | 2022
(in millions) | U.S. | International | Total | U.S. | International | Total
Renal Care 1 | $ | 234 |  | $ | 702 |  | $ | 936 |  | $ | 225 |  | $ | 706 |  | $ | 931 |
Medication Delivery 2 | 487 |  | 274 |  | 761 |  | 459 |  | 251 |  | 710 |
Pharmaceuticals 3 | 182 |  | 368 |  | 550 |  | 164 |  | 364 |  | 528 |
Clinical Nutrition 4 | 83 |  | 160 |  | 243 |  | 90 |  | 140 |  | 230 |
Advanced Surgery 5 | 150 |  | 122 |  | 272 |  | 151 |  | 112 |  | 263 |
Acute Therapies 6 | 60 |  | 120 |  | 180 |  | 58 |  | 115 |  | 173 |
Patient Support Systems 7 | 276 |  | 83 |  | 359 |  | 284 |  | 80 |  | 364 |
Front Line Care 8 | 227 |  | 80 |  | 307 |  | 202 |  | 80 |  | 282 |
Global Surgical Solutions 9 | 35 |  | 42 |  | 77 |  | 36 |  | 33 |  | 69 |
Other 10 | 17 |  | 5 |  | 22 |  | 31 |  | 13 |  | 44 |
Total Baxter | $ | 1,751 |  | $ | 1,956 |  | $ | 3,707 |  | $ | 1,700 |  | $ | 1,894 |  | $ | 3,594 |
| Six Months Ended June 30,
| 2023 | 2022
(in millions) | U.S. | International | Total | U.S. | International | Total
Renal Care 1 | $ | 466 |  | $ | 1,362 |  | $ | 1,828 |  | $ | 450 |  | $ | 1,375 |  | $ | 1,825 |
Medication Delivery 2 | 923 |  | 525 |  | 1,448 |  | 931 |  | 485 |  | 1,416 |
Pharmaceuticals 3 | 355 |  | 719 |  | 1,074 |  | 321 |  | 728 |  | 1,049 |
Clinical Nutrition 4 | 161 |  | 306 |  | 467 |  | 174 |  | 283 |  | 457 |
Advanced Surgery 5 | 294 |  | 224 |  | 518 |  | 287 |  | 204 |  | 491 |
Acute Therapies 6 | 121 |  | 239 |  | 360 |  | 126 |  | 235 |  | 361 |
Patient Support Systems 7 | 536 |  | 171 |  | 707 |  | 579 |  | 168 |  | 747 |
Front Line Care 8 | 448 |  | 161 |  | 609 |  | 409 |  | 167 |  | 576 |
Global Surgical Solutions 9 | 73 |  | 85 |  | 158 |  | 73 |  | 74 |  | 147 |
Other 10 | 41 |  | 10 |  | 51 |  | 62 |  | 21 |  | 83 |
Total Baxter | $ | 3,418 |  | $ | 3,802 |  | $ | 7,220 |  | $ | 3,412 |  | $ | 3,740 |  | $ | 7,152 |
1 Renal Care includes sales of our peritoneal dialysis (PD), HD and additional dialysis therapies and services. 2 Medication Delivery includes sales of our intravenous (IV) therapies, infusion pumps, administration sets and drug reconstitution devices. 3 Pharmaceuticals includes sales of our premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services. 4 Clinical Nutrition includes sales of our parenteral nutrition therapies and related products. 5 Advanced Surgery includes sales of our biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention. 6 Acute Therapies includes sales of our continuous renal replacement therapies (CRRT) and other organ support therapies focused in the intensive care unit (ICU). 7 Patient Support Systems includes sales of our connected care solutions: devices, software, communications and integration technologies and smart beds. 8 Front Line Care includes sales of our integrated patient monitoring and diagnostic technologies to help diagnose, treat and manage a wide variety of illness and diseases, including respiratory therapy, cardiology, vision screening and physical assessment. 9 Global Surgical Solutions includes sales of our surgical video technologies, tables, lights, pendants, precision positioning devices and other accessories. 10Other includes sales of miscellaneous product and service offerings. Contract manufacturing revenues earned by our manufacturing facility in Round Lake Illinois, which totaled $2 million for the six months ended June 30, 2023 and $11 million and $18 million for the three and six months ended June 30, 2022, respectively, were historically presented as BPS sales. Those sales transactions, which are not impacted by the pending divestiture of our BPS business, continue to be presented as continuing operations in the accompanying consolidated financial statements and have been reclassified to our Other product category for all periods presented.
Sales-type Lease, Lease Income | The components of lease revenue for the three and six months ended June 30, 2023 and 2022 were:
(in millions) | Three months ended June 30, 2023 | Six Months Ended June 30, 2023
Sales-type lease revenue | $ | 3 |  | $ | 7 |
Operating lease revenue | 132 |  | 256 |
Variable lease revenue | 14 |  | 29 |
Total lease revenue | $ | 149 |  | $ | 292 |
(in millions) | Three months ended June 30, 2022 | Six months ended June 30, 2022
Sales-type lease revenue | $ | 5 |  | $ | 8 |
Operating lease revenue | 113 |  | 235 |
Variable lease revenue | 12 |  | 32 |
Total lease revenue | $ | 130 |  | $ | 275 |
Operating Lease, Lease Income | The components of lease revenue for the three and six months ended June 30, 2023 and 2022 were:
(in millions) | Three months ended June 30, 2023 | Six Months Ended June 30, 2023
Sales-type lease revenue | $ | 3 |  | $ | 7 |
Operating lease revenue | 132 |  | 256 |
Variable lease revenue | 14 |  | 29 |
Total lease revenue | $ | 149 |  | $ | 292 |
(in millions) | Three months ended June 30, 2022 | Six months ended June 30, 2022
Sales-type lease revenue | $ | 5 |  | $ | 8 |
Operating lease revenue | 113 |  | 235 |
Variable lease revenue | 12 |  | 32 |
Total lease revenue | $ | 130 |  | $ | 275 |

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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 maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479773/842-30-50-10 + Details
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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
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