v3.26.1
Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues disaggregated by primary geographic markets, major product lines, and sales channels are as follows:
Year Ended December 31,
202520242023
Primary geographical markets(1)
United States$3,985 $3,437 $3,826 
Europe1,952 1,843 1,951 
Canada464 487 554 
Latin America274 199 246 
Asia Pacific154 54 55 
Other193 201 254 
Total Revenues$7,022 $6,221 $6,886 
Major product and services lines
Equipment$1,488 $1,378 $1,655 
Supplies, paper and other sales(2)
1,272 768 809 
Maintenance agreements(4)
1,628 1,516 1,631 
IT Products(2)(3)
523 232 256 
Service arrangements(5)
1,731 1,853 1,984 
Rental and other254 323 360 
Financing126 151 191 
Total Revenues$7,022 $6,221 $6,886 
Sales channels:
Direct equipment lease(6)
$454 $706 $920 
Distributors & resellers(7)
1,249 973 1,044 
Customer direct1,580 699 756 
Total Sales$3,283 $2,378 $2,720 
_____________
(1)Geographic area data is based upon the location of the subsidiary reporting the revenue.
(2)Certain prior year amounts have been reclassified in order to conform to the current year's presentation.
(3)IT products include IT hardware and software solutions sold by the IT Solutions segment.
(4)Includes revenues from maintenance agreements on sold equipment as well as revenues associated with service agreements sold through our channel partners, as well as services revenues related to our IT Solutions.
(5)Primarily includes revenues from our Print outsourcing arrangements including revenues from embedded operating leases in those arrangements.
(6)Primarily reflects sales through bundled lease arrangements.
(7)Primarily reflects sales through our two-tier distribution channels.
Schedule of Contract Liabilities Activity
The following table summarizes our contract liabilities activity:
202520242023
Balance at January 1st
$130 $132 $131 
Revenue recognized(1)
(299)(189)(183)
Billings and customer advances287 177 187 
Foreign currency and other(6)(3)(3)
Acquisition(2)
167 13 — 
Balance at December 31st
$279 $130 $132 
__________
(1)Revenue recognized related to contract liabilities included in the January 1st beginning balance was $111, $109, $107 for the years ended December 31, 2025, 2024, and 2023, respectively.
(2)Refer to Note 6 - Acquisition and Divestitures for additional information regarding the Lexmark Acquisition in 2025 and the ITsavvy Acquisition in 2024.
Schedule of Capitalized Contract Cost
Changes in contract costs, net are as follows:
202520242023
Balance at January 1st,$138 $136 $135 
Customer contract costs deferred75 69 70 
Amortization of customer contract costs(67)(64)(69)
Other(1)
— (3)— 
Acquisition (2)
17 — — 
Balance at December 31st,$163 $138 $136 
_____________
(1)Includes currency.
(2)Includes customer contract costs related to the Lexmark Acquisition. Refer to Note 6 - Acquisitions and Divestitures for additional information