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REVENUE | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Disaggregation of Revenue The following tables disaggregate our revenue recognized by primary geographical market by our business segments and by industry for SCS. Refer to Note 3, “Segment Reporting”, for the disaggregation of our revenue by major product/service lines. Primary Geographical Markets
|  | 2024
(In millions) |  | FMS |  | SCS |  | DTS |  | Eliminations |  | Total
United States |  | $ | 5,585 |  |  | $ | 4,697 |  |  | $ | 2,446 |  |  | $ | (955) |  |  | $ | 11,773 |
Canada |  | 303 |  |  | 278 |  |  | — |  |  | (43) |  |  | 538 |
Mexico |  | — |  |  | 325 |  |  | — |  |  | — |  |  | 325 |
Total revenue |  | $ | 5,888 |  |  | $ | 5,300 |  |  | $ | 2,446 |  |  | $ | (998) |  |  | $ | 12,636 |
|  | 2023
(In millions) |  | FMS |  | SCS |  | DTS |  | Eliminations |  | Total
United States |  | $ | 5,616 |  |  | $ | 4,295 |  |  | $ | 1,785 |  |  | $ | (764) |  |  | $ | 10,932 |
Canada |  | 314 |  |  | 267 |  |  | — |  |  | (43) |  |  | 538 |
Mexico |  | — |  |  | 313 |  |  | — |  |  | — |  |  | 313 |
Total revenue |  | $ | 5,930 |  |  | $ | 4,875 |  |  | $ | 1,785 |  |  | $ | (807) |  |  | $ | 11,783 |
|  | 2022
(In millions) |  | FMS |  | SCS |  | DTS |  | Eliminations |  | Total
United States |  | $ | 5,858 |  |  | $ | 4,209 |  |  | $ | 1,786 |  |  | $ | (780) |  |  | $ | 11,073 |
Canada |  | 319 |  |  | 251 |  |  | — |  |  | (42) |  |  | 528 |
Europe (1) |  | 150 |  |  | — |  |  | — |  |  | — |  |  | 150 |
Mexico |  | — |  |  | 260 |  |  | — |  |  | — |  |  | 260 |
Total revenue |  | $ | 6,327 |  |  | $ | 4,720 |  |  | $ | 1,786 |  |  | $ | (822) |  |  | $ | 12,011 |
———————————— (1)Refer to Note 20, "Other Items Impacting Comparability", for further information on the exit of the FMS U.K. business. Product Line Our FMS revenue disaggregated by product line is as follows:
(In millions) |  | 2024 |  | 2023 |  | 2022
ChoiceLease |  | $ | 3,446 |  |  | $ | 3,181 |  |  | $ | 3,101 |
Commercial rental |  | 976 |  |  | 1,178 |  |  | 1,338 |
SelectCare and other |  | 694 |  |  | 694 |  |  | 624 |
FMS Europe (1) |  | — |  |  | — |  |  | 150 |
Fuel services revenue |  | 772 |  |  | 877 |  |  | 1,114 |
Fleet Management Solutions |  | $ | 5,888 |  |  | $ | 5,930 |  |  | $ | 6,327 |
_______________ (1)Refer to Note 20, “Other Items Impacting Comparability,” for further information on the FMS U.K. business exit 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 included revenue from the following industries:
(In millions) |  | 2024 |  | 2023 |  | 2022
Omnichannel retail |  | $ | 1,726 |  |  | $ | 1,757 |  |  | $ | 1,861 |
Automotive |  | 1,580 |  |  | 1,600 |  |  | 1,523 |
Consumer packaged goods |  | 1,182 |  |  | 965 |  |  | 845 |
Industrial and other |  | 812 |  |  | 553 |  |  | 491 |
Total SCS revenue |  | $ | 5,300 |  |  | $ | 4,875 |  |  | $ | 4,720 |
Lease & Related Maintenance and Rental Revenue The non-lease revenue from maintenance services related to our ChoiceLease product is recognized in "Lease & related maintenance and rental revenue" in the Consolidated Statements of Earnings. We recognized $972 million in 2024, $963 million in 2023 and $1.0 billion in 2022. 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:
(In millions) |  | 2024 |  | 2023 |  | 2022
Balance as of beginning of period |  | $ | 545 |  |  | $ | 544 |  |  | $ | 594 |
Recognized as revenue during period from beginning balance |  | (174) |  |  | (166) |  |  | (181) |
Consideration deferred during period, net |  | 231 |  |  | 168 |  |  | 140 |
Foreign currency translation adjustment and other |  | (2) |  |  | (1) |  |  | (9) |
Balance as of end of period |  | $ | 600 |  |  | $ | 545 |  |  | $ | 544 |
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 was $3.1 billion and $2.8 billion as of December 31, 2024 and 2023, respectively, and 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 the lease component of our ChoiceLease product and all the revenue from the 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 to be delivered to the customer. Sales Commissions and Contract Origination Costs The sales commission and setup costs capitalized as of the period ended and the amortization expense for the years ended were as follows:
|  |  |  | December 31,
(In millions) |  | 2024 |  | 2023
Sales commissions |  |  |  | $ | 109 |  |  | $ | 117 |
Contract origination costs |  |  |  | $ | 75 |  |  | $ | 84 |
(In millions) |  | 2024 |  | 2023 |  | 2022
Sales commissions amortization expense |  | $ | 46 |  |  | $ | 47 |  |  | $ | 44 |
Contract origination amortization expense |  | $ | 34 |  |  | $ | 30 |  |  | $ | 28 |

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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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