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Deferred Revenue and Other Contract Liabilities, Current
 9 Months Ended
Sep. 30, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
Deferred Revenue and Other Contract Liabilities, Current
13. Deferred Revenue and Other Contract Liabilities, Current
Deferred revenue and other contract liabilities, current, consist of the following:
(in millions)September 30,
2023		December 31,
2022
Deferred revenue$56.9 $61.0 
Accrued rebates and allowances34.8 38.5 
Accrued customer reimbursements7.6 6.1 
     Total deferred revenue and other contract liabilities99.3 105.6 
Less: Non-current portion of deferred revenue(26.2)(25.0)
     Deferred revenue and other contract liabilities, current$73.1 $80.6 
Deferred revenue relates to contracted amounts that have been invoiced to customers for which remaining performance obligations must be completed before the Company can recognize revenue. Generally, both healthcare and non-healthcare segments record deferred revenue when revenue is to be recognized subsequent to invoicing.
Healthcare Deferred Revenue
Healthcare deferred revenue primarily relates to undelivered equipment, sensors and services under deferred equipment agreements, extended warranty agreements, and maintenance agreements. Expected revenue from remaining contractual performance obligations (Unrecognized Contract Revenue) includes deferred revenue, as well as other amounts that will be invoiced and recognized as revenue in future periods when the Company completes its performance obligations. Unrecognized Contract Revenue excludes revenue allocable to monitoring-related equipment that is effectively leased to customers under deferred equipment agreements and other contractual obligations for which neither party has performed. The estimated timing of this revenue is based, in part, on management’s estimates and assumptions about when its performance obligations will be completed. As a result, the actual timing of this revenue in future periods may vary, possibly materially. As of September 30, 2023, the Company had approximately $1,434.6 million of Unrecognized Contract Revenue related to executed contracts with an original duration of one year or more. The Company expects to recognize approximately $375.9 million of this amount as revenue within the next twelve months and the remaining balance thereafter.
Non-Healthcare Deferred Revenue
In October 2020, the Company’s subsidiary, B&W Group Ltd. (B&W), entered into an amendment to a licensing agreement, whereby B&W received a $20.0 million royalty prepayment in relation to sound system units manufactured under the Bowers & Wilkins brand for various high-end car manufacturers with a total commitment of $35.0 million to be received by September 30, 2028. As of September 30, 2023, deferred revenue was $15.8 million.
Changes in deferred revenue were as follows:
(in millions)Nine Months Ended
September 30,
2023
Deferred revenue, beginning of the period$61.0 
  Revenue deferred during the period15.8 
  Recognition of revenue deferred in prior periods(19.9)
     Deferred revenue, end of the period$56.9