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REVENUE
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregation of Revenue
The following tables disaggregate our revenue recognized by primary geographical market by our reportable business segments, by FMS product line and by SCS industry.

Primary Geographical Markets
Three months ended September 30, 2025
(In millions)FMSSCSDTSEliminationsTotal
United States$1,390 $1,219 $570 $(234)$2,945 
Canada75 73 — (10)138 
Mexico— 88 — — 88 
Total revenue$1,465 $1,380 $570 $(244)$3,171 


Three months ended September 30, 2024
(In millions)FMSSCSDTSEliminationsTotal
United States$1,393 $1,170 $633 $(242)$2,954 
Canada77 66 — (10)133 
Mexico— 81 — — 81 
Total revenue$1,470 $1,317 $633 $(252)$3,168 
Nine months ended September 30, 2025
(In millions)FMSSCSDTSEliminationsTotal
United States$4,156 $3,608 $1,778 $(712)$8,830 
Canada223 220 — (32)411 
Mexico— 249 — — 249 
Total revenue$4,379 $4,077 $1,778 $(744)$9,490 
Nine months ended September 30, 2024
(In millions)FMSSCSDTSEliminationsTotal
United States$4,174 $3,506 $1,831 $(714)$8,797 
Canada229 207 — (33)403 
Mexico— 247 — — 247 
Total revenue$4,403 $3,960 $1,831 $(747)$9,447 

Product Line

Our FMS revenue disaggregated by product line is as follows:

 Three months ended September 30,Nine months ended September 30,
(In millions)2025202420252024
ChoiceLease$875 $857 $2,613 $2,556 
Commercial rental242 251 700 726 
SelectCare and other165 173 517 526 
Fuel services revenue183 189 549 595 
Total FMS revenue$1,465 $1,470 $4,379 $4,403 

Industry

Our SCS business segment included revenue from the following industries:

Three months ended September 30,Nine months ended September 30,
(In millions)2025202420252024
Omnichannel retail$467 $421 $1,340 $1,254 
Automotive390 384 1,191 1,207 
Consumer packaged goods311 302 921 886 
Industrial and other212 210 625 613 
Total SCS revenue$1,380 $1,317 $4,077 $3,960 
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 Condensed Consolidated Statements of Earnings. For the three months ended September 30, 2025 and 2024, we recognized $250 million and $242 million, respectively. For the nine months ended September 30, 2025 and 2024, we recognized $749 million and $726 million, respectively.
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:
Nine months ended September 30,
(In millions)20252024
Balance as of beginning of period$600 $545 
Recognized as revenue during period from beginning balance(128)(146)
Consideration deferred during period, net185 185 
Foreign currency translation adjustment and other4 2 
Balance as of end of period$661 $586 
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 $3.3 billion and $3.1 billion as of September 30, 2025, and December 31, 2024, respectively, and primarily includes deferred revenue and amounts for ChoiceLease maintenance revenue that will be recognized as revenue in future periods as we provide maintenance services to our customers.