v3.25.2
Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table disaggregates the Company’s net revenues by major stream and reportable segment.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2025202420252024
Warehousing operations$855 $866 $1,698 $1,738 
Warehouse lease revenues83 69 151 136 
Managed services27 26 54 51 
Other5 5 11 10 
Total Global Warehousing970 966 1,914 1,935 
Transportation198 205 386 409 
Food sales61 60 105 108 
Redistribution revenues59 51 113 99 
E-commerce and other44 38 87 78 
Railcar lease revenues18 18 37 37 
Total Global Integrated Solutions380 372 728 731 
Total net revenues$1,350 $1,338 $2,642 $2,666 
The Company has no material warranties or obligations for allowances, refunds, or other similar obligations. As a practical expedient, the Company does not assess whether a contract has a significant financing component, as the period between the transfer of service to the customer and the receipt of customer payment is less than a year.
As of June 30, 2025, the Company had $1,203 million of remaining unsatisfied performance obligations from contracts with customers subject to a non-cancellable term and within contracts that have an original expected duration exceeding one year. These obligations also do not include variable consideration beyond the non-cancellable term, which, due to the inability to quantify by estimate, is fully constrained. The Company expects to recognize 19.2% of these remaining performance obligations as revenue over the next 12 months and the remaining 80.8% to be recognized over a weighted average period of 9.2 years through 2043.
Accounts receivable balances related to contracts with customers were $775 million and $719 million as of June 30, 2025 and December 31, 2024, respectively.
Deferred revenue balances related to contracts with customers were $81 million as of both June 30, 2025 and December 31, 2024. Substantially all revenue that was included in the deferred revenue balance at the beginning of 2025 has been recognized as of June 30, 2025 and represents revenue from the satisfaction of storage and handling services billed in advance.