v3.26.1
Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations
3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations
The following tables represent revenues by geographic region and reportable segment for the three months ended March 31, 2026 and 2025. Results for the three months ended March 31, 2025 reflect the recast of segment information based on the changes described in Note 14.
Three Months Ended March 31, 2026
(in millions)Commercial SolutionsResearch & Development SolutionsTotal
Revenues:
Americas$856 $1,128 $1,984 
Europe and Africa688 667 1,355 
Asia-Pacific210 602 812 
Total revenues$1,754 $2,397 $4,151 
Three Months Ended March 31, 2025
(in millions)Commercial SolutionsResearch & Development SolutionsTotal
Revenues:
Americas$790 $1,017 $1,807 
Europe and Africa593 631 1,224 
Asia-Pacific189 609 798 
Total revenues$1,572 $2,257 $3,829 
No individual customer represented 10% or more of consolidated revenues for the three months ended March 31, 2026 or 2025.
Transaction Price Allocated to the Remaining Performance Obligations
As of March 31, 2026, approximately $37.3 billion of revenues are expected to be recognized in the future from remaining performance obligations. The Company expects to recognize revenues on approximately 30% of these remaining performance obligations over the next twelve months, on approximately 85% over the next five years, with the balance recognized thereafter. Most of the Company's remaining performance obligations where revenues are expected to be recognized beyond the next twelve months are for service contracts for clinical research in the Company's Research & Development Solutions segment. The customer contract transaction price allocated to the remaining performance obligations differs from backlog in that it does not include wholly unperformed contracts under which the customer has a unilateral right to cancel the arrangement