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Contract Related Disclosures
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Contract Related Disclosures

6. Contract Related Disclosures

 

The following table summarizes contract related balances:

 

  

Trade

Receivables

  

Unbilled

Accounts

Receivable

  

Right to

Recover

Asset

  

Deferred

Income

  

Customer

Prepayments

and Deposits

 
   (in millions) 
At March 31, 2026  $38.1   $26.9   $0.7   $(25.6)  $(4.0)
At December 31, 2025  $39.0   $30.2   $0.7   $(25.9)  $(4.5)

 

Revenue recognized that was included in the deferred income balance at the beginning of the period amounted to $2.8 million and $1.7 million for the three months ended March 31, 2026 and 2025, respectively.

 

For the three-month periods ended March 31, 2026 and 2025 respectively, there was no significant amounts of revenue recognized as a result of changes in contract transaction price related to performance obligations that were satisfied in the respective prior periods.

 

Transaction Price Allocated to Remaining Performance Obligations

 

At March 31, 2026, in respect of contracts exceeding one year duration, the aggregate amount of the transaction price allocated to the performance obligations which are unsatisfied (or partially unsatisfied) at the end of the reporting period was approximately $120.8 million. Of this amount, we expect to recognize as revenue approximately 25% through December 31, 2026, approximately 50% through December 31, 2028, approximately 24% through December 31, 2030, and the remaining 1% through December 31, 2031.