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REVENUES (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Contract Asset The following table summarizes our contract assets:
(in millions)September 30,
2023		December 31,
2022
Contract manufacturing services$3 $10 
Software sales45 43 
Bundled equipment and consumable medical products contracts114 121 
Contract assets$162 $174 
The following table summarizes contract liability activity for the nine months ended September 30, 2023 and 2022. The contract liability balance represents the transaction price allocated to the remaining performance obligations.
Nine Months Ended September 30,
(in millions)
2023
2022
Balance at beginning of period$194 $196 
New revenue deferrals491 457 
Revenue recognized upon satisfaction of performance obligations(493)(462)
Currency translation3 (3)
Balance at end of period$195 $188 
For the nine months ended September 30, 2023 and 2022, $119 million and $99 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)September 30,
2023		December 31,
2022
Prepaid expenses and other current assets$50 $52 
Other non-current assets112 122 
Contract assets$162 $174 
Accrued expenses and other current liabilities$154 $154 
Other non-current liabilities41 40 
Contract liabilities$195 $194 
Sales-type Lease, Lease Income
The components of lease revenue for the three and nine months ended September 30, 2023 and 2022 were:
(in millions)Three months ended September 30, 2023Nine Months Ended September 30, 2023
Sales-type lease revenue$2 $9 
Operating lease revenue124 380 
Variable lease revenue12 41 
Total lease revenue$138 $430 
(in millions)Three months ended September 30, 2022Nine months ended September 30, 2022
Sales-type lease revenue$3 $11 
Operating lease revenue145 380 
Variable lease revenue9 41 
Total lease revenue$157 $432 
Operating Lease, Lease Income
The components of lease revenue for the three and nine months ended September 30, 2023 and 2022 were:
(in millions)Three months ended September 30, 2023Nine Months Ended September 30, 2023
Sales-type lease revenue$2 $9 
Operating lease revenue124 380 
Variable lease revenue12 41 
Total lease revenue$138 $430 
(in millions)Three months ended September 30, 2022Nine months ended September 30, 2022
Sales-type lease revenue$3 $11 
Operating lease revenue145 380 
Variable lease revenue9 41 
Total lease revenue$157 $432