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Revenue from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents a disaggregation of revenue:
| Three Months Ended June 30, |  | Six Months Ended June 30,
in millions | 2024 |  | 2023 |  | 2024 |  | 2023
Americas |  |  |  |  |  |  |
Recurring | $ | 222 |  |  | $ | 230 |  |  | $ | 466 |  |  | $ | 486 |
Perpetual software licenses, hardware and other | 2 |  |  | 3 |  |  | 7 |  |  | 8 |
Consulting services | 26 |  |  | 35 |  |  | 54 |  |  | 66 |
Total Americas | 250 |  |  | 268 |  |  | 527 |  |  | 560 |
EMEA |  |  |  |  |  |  |
Recurring | 93 |  |  | 89 |  |  | 192 |  |  | 176 |
Perpetual software licenses, hardware and other | 1 |  |  | 5 |  |  | 3 |  |  | 12 |
Consulting services | 22 |  |  | 24 |  |  | 46 |  |  | 47 |
Total EMEA | 116 |  |  | 118 |  |  | 241 |  |  | 235 |
APJ |  |  |  |  |  |  |
Recurring | 53 |  |  | 52 |  |  | 98 |  |  | 98 |
Perpetual software licenses, hardware and other | 2 |  |  | 5 |  |  | 3 |  |  | 6 |
Consulting services | 15 |  |  | 19 |  |  | 32 |  |  | 39 |
Total APJ | 70 |  |  | 76 |  |  | 133 |  |  | 143 |
Total Revenue | $ | 436 |  |  | $ | 462 |  |  | $ | 901 |  |  | $ | 938 |
Schedule of Rental Revenue | Rental revenue, which is included in recurring revenue in the above table, was as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
in millions |  | 2024 |  | 2023 |  | 2024 |  | 2023
Rental revenue* |  | $ | 54 |  |  | $ | 56 |  |  | $ | 109 |  |  | $ | 107 |
*Rental revenue includes hardware maintenance.
Schedule of Assets and Liabilities Related to Contracts with Customers | The following table provides information about receivables, contract assets and deferred revenue from contracts with customers:
| As of |  |  |  |  |  |  |  |
in millions | June 30, 2024 |  | December 31, 2023 |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 248 |  |  | $ | 286 |  |  |  |  |  |  |  |  |
Contract assets | $ | 4 |  |  | $ | 9 |  |  |  |  |  |  |  |  |
Current deferred revenue | $ | 529 |  |  | $ | 570 |  |  |  |  |  |  |  |  |
Long-term deferred revenue | $ | 10 |  |  | $ | 22 |  |  |  |  |  |  |  |  |
Schedule of Estimated Revenue Expected to be Recognized in the Future | The following table includes estimated revenue expected to be recognized in the future related to the Company's unsatisfied (or partially satisfied) obligations at June 30, 2024:
in millions |  | Total at June 30, 2024 |  | Year 1 |  | Year 2 and Thereafter
Remaining unsatisfied obligations |  | $ | 2,300 |  |  | $ | 1,367 |  |  | $ | 933 |

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