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Revenue from Contracts with Customers | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | (3) Revenue from Contracts with Customers Contract assets as of March 31, 2024 and December 31, 2023 were $22 and $26, respectively. A roll-forward of the Company’s deferred revenue and customer advances is as follows:
|  | Three Months Ended |
|  | March 31, 2024 |  |  | March 31, 2023 |
Beginning balance, January 1(1) |  | $ | 79 |  |  | $ | 96 |
Additions to deferred revenue and customer advances |  |  | 30 |  |  |  | 43 |
Amount of deferred revenue and customer advances recognized in income |  |  | (39 | ) |  |  | (41 | )
Ending balance, March 31(2) |  | $ | 70 |  |  | $ | 98 |
(1) Beginning balance as of January 1, 2024 included $77 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Beginning balance as of January 1, 2023 included $94 of current deferred revenue and customer advances and $2 of non-current deferred revenue. (2) Ending balance as of March 31, 2024 included $68 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Ending balance as of March 31, 2023 included $96 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Revenue from certain custom products, including MSD plating equipment, and revenue from certain service contracts are recorded over time. Remaining product and services revenues are recorded at a point in time. Disaggregation of Revenue The following tables summarize product and service revenue from contracts with customers in MKS’ three reportable segments.
|  | Three Months Ended March 31, 2024 |
|  | VSD |  |  | PSD |  |  | MSD |  |  | Total |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 274 |  |  | $ | 214 |  |  | $ | 266 |  |  | $ | 754 |
Services |  |  | 58 |  |  |  | 40 |  |  |  | 16 |  |  |  | 114 |
Total net revenues |  | $ | 332 |  |  | $ | 254 |  |  | $ | 282 |  |  | $ | 868 |
|  | Three Months Ended March 31, 2023 |
|  | VSD |  |  | PSD |  |  | MSD |  |  | Total |
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Products |  | $ | 263 |  |  | $ | 159 |  |  | $ | 291 |  |  | $ | 712 |
Services |  |  | 41 |  |  |  | 27 |  |  |  | 14 |  |  |  | 82 |
Total net revenues |  | $ | 304 |  |  | $ | 186 |  |  | $ | 304 |  |  | $ | 794 |
The following table summarizes revenue from contracts with customers in the Company’s three end markets: Semiconductor, Electronics and Packaging, and Specialty Industrial.
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Semiconductor |  | $ | 351 |  |  | $ | 309 |
Electronics and Packaging |  |  | 208 |  |  |  | 222 |
Specialty Industrial |  |  | 309 |  |  |  | 263 |
|  | $ | 868 |  |  | $ | 794 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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