XML 27 R11.htm IDEA: XBRL DOCUMENT
v3.20.4

REVENUE | 12 Months Ended
--- | ---
Dec. 31, 2020
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Disaggregation of Revenue The following tables disaggregate our revenue by primary geographical market by our reportable business segments and by industry for SCS. Refer to Note 23, “Segment Reporting”, for the disaggregation of our revenue by major product/service lines. Primary Geographical Markets
| Year ended December 31, 2020
| FMS |  | SCS |  | DTS |  | Eliminations |  | Total
| (In thousands)
United States | $ | 4,646,290 |  |  | $ | 2,146,936 |  |  | $ | 1,229,374 |  |  | $ | (506,884) |  |  | $ | 7,515,716 |
Canada | 269,198 |  |  | 207,911 |  |  | — |  |  | (17,286) |  |  | 459,823 |
Europe | 254,979 |  |  | — |  |  | — |  |  | — |  |  | 254,979 |
Mexico | — |  |  | 189,573 |  |  | — |  |  | — |  |  | 189,573 |
Total revenue | $ | 5,170,467 |  |  | $ | 2,544,420 |  |  | $ | 1,229,374 |  |  | $ | (524,170) |  |  | $ | 8,420,091 |
| Year ended December 31, 2019
| FMS |  | SCS |  | DTS |  | Eliminations |  | Total
| (In thousands)
United States | $ | 4,965,461 |  |  | $ | 2,110,240 |  |  | $ | 1,417,483 |  |  | $ | (593,170) |  |  | $ | 7,900,014 |
Canada | 302,956 |  |  | 215,380 |  |  | — |  |  | (21,186) |  |  | 497,150 |
Europe | 302,986 |  |  | — |  |  | — |  |  | — |  |  | 302,986 |
Mexico | — |  |  | 222,358 |  |  | — |  |  | — |  |  | 222,358 |
Singapore | — |  |  | 3,293 |  |  | — |  |  | — |  |  | 3,293 |
Total revenue | $ | 5,571,403 |  |  | $ | 2,551,271 |  |  | $ | 1,417,483 |  |  | $ | (614,356) |  |  | $ | 8,925,801 |
| Year ended December 31, 2018
| FMS |  | SCS |  | DTS |  | Eliminations |  | Total
| (In thousands)
United States | $ | 4,639,494 |  |  | $ | 1,990,486 |  |  | $ | 1,333,313 |  |  | $ | (554,764) |  |  | $ | 7,408,529 |
Canada | 302,106 |  |  | 185,655 |  |  | — |  |  | (21,440) |  |  | 466,321 |
Europe | 317,093 |  |  | — |  |  | — |  |  | — |  |  | 317,093 |
Mexico | — |  |  | 198,147 |  |  | — |  |  | — |  |  | 198,147 |
Singapore | — |  |  | 23,856 |  |  | — |  |  | — |  |  | 23,856 |
Total revenue | $ | 5,258,693 |  |  | $ | 2,398,144 |  |  | $ | 1,333,313 |  |  | $ | (576,204) |  |  | $ | 8,413,946 |
Industry We have a diversified portfolio of customers across a full array of transportation and logistics solutions and across many industries. We believe this will help to mitigate the impact of adverse downturns in specific sectors of the economy. Our portfolio of ChoiceLease and commercial rental customers, as well as our DTS business, is not concentrated in any one particular industry or geographic region. Our SCS business segment includes revenue from the following industries:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
| (In thousands)
Automotive |  | $ | 940,314 |  |  | $ | 1,003,508 |  |  | $ | 947,408 |
Technology and healthcare |  | 386,610 |  |  | 432,107 |  |  | 480,026 |
Consumer packaged goods and retail |  | 993,403 |  |  | 901,344 |  |  | 766,765 |
Industrial and other |  | 224,093 |  |  | 214,312 |  |  | 203,945 |
Total revenue |  | $ | 2,544,420 |  |  | $ | 2,551,271 |  |  | $ | 2,398,144 |
Maintenance Revenues We recognized non-lease revenue from maintenance services of $965 million, $950 million and $909 million in 2020, 2019 and 2018, respectively, related to our FMS business segment, which was included in "Lease & related maintenance and rental revenues" in the Consolidated Statements of Earnings. Deferred Revenue The following table includes the changes in deferred revenue due to the collection and deferral of cash or the satisfaction of our performance obligation under the contract:
| 2020 |  | 2019
| (In thousands)
Balance as of beginning of year | $ | 603,687 |  |  | $ | 582,078 |
Recognized as revenue during period from beginning balance | (179,623) |  |  | (180,939) |
Consideration deferred during period, net | 203,308 |  |  | 203,136 |
Foreign currency translation adjustment and other | 2,367 |  |  | (588) |
Balance as of end of year | $ | 629,739 |  |  | $ | 603,687 |
Contracted Not Recognized Revenue Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (“contracted not recognized revenue”). Contracted not recognized revenue primarily includes deferred revenue and amounts for full service ChoiceLease maintenance revenue that will be recognized as revenue in future periods as we provide maintenance services to our customers. Contracted not recognized revenue excludes (1) variable consideration as it is not included in the transaction price consideration allocated at contract inception, (2) revenues from our lease component of our ChoiceLease product and commercial rental product, (3) revenues from contracts with an original duration of one year or less, including SelectCare contracts, and (4) revenue from SCS, DTS and other contracts where there are remaining performance obligations when we have the right to invoice but the revenue to be recognized in the future corresponds directly with the value delivered to the customer. Contracted not recognized revenue was $2.7 billion as of December 31, 2020. Sales Commissions We capitalize incremental sales commissions paid as a result of obtaining ChoiceLease, SCS and DTS contracts as contract costs. Capitalized sales commissions, including initial direct costs of our leases, was $89 million and $105 million as of December 31, 2020 and 2019, respectively. Sales commission expense in 2020, 2019 and 2018 was $44 million, $43 million and $37 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration