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REVENUES (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Contract Asset
The following table summarizes our contract assets:
(in millions)September 30,
2024		December 31,
2023
Contract manufacturing services$4 $4 
Software sales46 45 
Bundled equipment and consumable medical products contracts95 116 
Contract assets$145 $165 
The following table summarizes contract liability activity for the nine months ended September 30, 2024 and 2023. The contract liability balance represents the transaction price allocated to the remaining performance obligations.
Nine Months Ended September 30,
(in millions)
2024
2023
Balance at beginning of period$169 $173 
New revenue deferrals383 401 
Revenue recognized upon satisfaction of performance obligations(389)(407)
Currency translation(3)2 
Balance at end of period$160 $169 
For the nine months ended September 30, 2024 and 2023, $94 million and $111 million of revenue was recognized that was included in contract liabilities as of December 31, 2023 and 2022, 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,
2024		December 31,
2023
Prepaid expenses and other current assets$54 $53 
Other non-current assets91 112 
Contract assets$145 $165 
Accrued expenses and other current liabilities$124 $128 
Other non-current liabilities36 41 
Contract liabilities$160 $169 
Sales-type Lease, Lease Income
The components of lease revenue for the three and nine months ended September 30, 2024 and 2023 were:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Sales-type lease revenue$3 $2 $8 $6 
Operating lease revenue102 98 288 302 
Variable lease revenue10 3 22 15 
Total lease revenue$115 $103 $318 $323 
Operating Lease, Lease Income
The components of lease revenue for the three and nine months ended September 30, 2024 and 2023 were:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Sales-type lease revenue$3 $2 $8 $6 
Operating lease revenue102 98 288 302 
Variable lease revenue10 3 22 15 
Total lease revenue$115 $103 $318 $323