v3.25.2
Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregated Revenue
Net revenues by geography and major type of good or service for the three and six months ended June 30 were as follows:
Three months endedSix months ended
In millions2025202420252024
Americas
     Equipment$3,125.8 $2,916.1 $5,687.6 $5,149.5 
     Services1,566.5 1,374.8 2,805.4 2,476.3 
Total Americas$4,692.3 $4,290.9 $8,493.0 $7,625.8 
EMEA
     Equipment$486.4 $457.5 $882.5 $842.2 
     Services221.5 187.8 398.9 356.5 
Total EMEA$707.9 $645.3 $1,281.4 $1,198.7 
Asia Pacific
     Equipment$222.1 $255.3 $435.7 $477.7 
     Services124.1 115.9 224.8 220.8 
Total Asia Pacific$346.2 $371.2 $660.5 $698.5 
Total Net revenues$5,746.4 $5,307.4 $10,434.9 $9,523.0 
Revenue from goods and services transferred to customers at a point in time accounted for approximately 80% and 81% of the Company's revenue for the six months ended June 30, 2025 and 2024.
Contract Balances
The opening and closing balances of contract assets and contract liabilities arising from contracts with customers for the period ended June 30, 2025 and December 31, 2024 were as follows:
In millionsLocation on Condensed Consolidated Balance SheetsJune 30,
2025		December 31, 2024
Contract assets - currentOther current assets$463.7 $427.3 
Contract liabilities - currentAccrued expenses and other current liabilities1,307.9 1,310.9 
Contract liabilities - noncurrentOther noncurrent liabilities328.9 294.0 
The timing of revenue recognition, billings and cash collections results in accounts receivable, contract assets, and customer advances and deposits (contract liabilities) on the Condensed Consolidated Balance Sheets. In general, the Company receives payments from customers based on a billing schedule established in its contracts. Contract assets relate to the conditional right to consideration for any completed performance under the contract when costs are incurred in excess of billings under the percentage of completion methodology. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities relate to payments received in advance of performance under the contract or when the Company has a right to consideration that is unconditional before it transfers a good or service to the customer. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. During the three and six months ended June 30, 2025, changes in contract asset and liability balances were not materially impacted by any other factors.
Approximately 17% and 49% of the contract liability balance at December 31, 2024 was recognized as revenue during the three and six months ended June 30, 2025, respectively. Additionally, approximately 20% of the contract liability balance at June 30, 2025 was classified as noncurrent and not expected to be recognized as revenue in the next 12 months.