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Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
(5)
Revenue from Contracts with Customers

Contract assets as of December 31, 2024 and 2023 were $30 and $26, respectively. A roll forward of the Company’s deferred revenue and customer advances is as follows:

 

 

2024

 

 

2023

 

Beginning balance, January 1(1)

 

$

79

 

 

$

96

 

Additions to deferred revenue and customer advances

 

 

134

 

 

 

167

 

Amount of deferred revenue and customer advances recognized in income

 

 

(140

)

 

 

(184

)

Ending balance, December 31(2)

 

$

73

 

 

$

79

 

 

(1)
Beginning deferred revenue and customer advances as of January 1, 2024 included $77 of current deferred revenue and customer advances, and $2 of long-term deferred revenue. Beginning deferred revenue and customer advances as of January 1, 2023 included $94 of current deferred revenue and customer advances, and $2 of long-term deferred revenue. The majority of the beginning balance in 2024 and 2023 was recognized in each year.
(2)
Ending deferred revenue and customer advances as of December 31, 2024 included $71 of current deferred revenue and customer advances, and $2 of long-term deferred revenue. Ending deferred revenue and customer advances as of December 31, 2023 included $77 of current deferred revenue and customer advances, and $2 of long-term 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 table summarizes revenue from contracts with customers in the Company’s three end markets: Semiconductor, Electronics and Packaging, and Specialty Industrial.

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Semiconductor

 

$

1,498

 

 

$

1,479

 

 

$

2,041

 

Electronics and Packaging

 

 

922

 

 

 

916

 

 

 

541

 

Specialty Industrial

 

 

1,166

 

 

 

1,227

 

 

 

964

 

Total net revenues

 

$

3,586

 

 

$

3,622

 

 

$

3,547

 

Refer to Note 21 for revenue by reportable segment, geography and groupings of similar products.