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Revenue from Contracts with Customers (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table presents a disaggregation of revenue:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
in millions | 2024 |  | 2023 |  | 2024 |  | 2023
North America and Latin America (Americas) |  |  |  |  |  |  |
Recurring | $ | 229 |  |  | $ | 231 |  |  | $ | 695 |  |  | $ | 717 |
Perpetual software licenses, hardware and other | — |  |  | 2 |  |  | 7 |  |  | 10 |
Consulting services | 26 |  |  | 31 |  |  | 80 |  |  | 97 |
Total Americas | 255 |  |  | 264 |  |  | 782 |  |  | 824 |
Europe, Middle East and Africa (EMEA) |  |  |  |  |  |  |
Recurring | 95 |  |  | 87 |  |  | 287 |  |  | 263 |
Perpetual software licenses, hardware and other | 5 |  |  | 4 |  |  | 8 |  |  | 16 |
Consulting services | 21 |  |  | 22 |  |  | 67 |  |  | 69 |
Total EMEA | 121 |  |  | 113 |  |  | 362 |  |  | 348 |
Asia Pacific and Japan (APJ) |  |  |  |  |  |  |
Recurring | 48 |  |  | 42 |  |  | 146 |  |  | 140 |
Perpetual software licenses, hardware and other | 2 |  |  | 1 |  |  | 5 |  |  | 7 |
Consulting services | 14 |  |  | 18 |  |  | 46 |  |  | 57 |
Total APJ | 64 |  |  | 61 |  |  | 197 |  |  | 204 |
Total Revenue | $ | 440 |  |  | $ | 438 |  |  | $ | 1,341 |  |  | $ | 1,376 |
Schedule of Rental Revenue | Rental revenue, which is included in recurring revenue in the above table, was as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
in millions |  | 2024 |  | 2023 |  | 2024 |  | 2023
Rental revenue* |  | $ | 53 |  |  | $ | 56 |  |  | $ | 162 |  |  | $ | 163 |
*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 | September 30, 2024 |  | December 31, 2023 |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 247 |  |  | $ | 286 |  |  |  |  |  |  |  |  |
Contract assets | $ | 6 |  |  | $ | 9 |  |  |  |  |  |  |  |  |
Current deferred revenue | $ | 482 |  |  | $ | 570 |  |  |  |  |  |  |  |  |
Long-term deferred revenue | $ | 13 |  |  | $ | 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 September 30, 2024:
in millions |  | Total at September 30, 2024 |  | Year 1 |  | Year 2 and Thereafter
Remaining unsatisfied obligations |  | $ | 2,182 |  |  | $ | 1,235 |  |  | $ | 947 |

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