v3.26.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
In the following table, revenue is disaggregated by type of good or service and primary geographical market. The table also includes a reconciliation of the disaggregated revenue to total revenue.

Three Months Ended
March 31, 2026
Three Months Ended March 31, 2025 (3)
(In millions)Protein SolutionsPrepared Food and Beverage SolutionsProtein SolutionsPrepared Food and Beverage Solutions
Type of Good or Service
Recurring (1)
$235 $250 $209 $240 
Non-recurring (1)
225 226 169 236 
Total460 476 378 476 
Geographical Region (2)
U.S. and Canada133 223 129 217 
Europe, Middle East and Africa257 162 173 174 
Asia Pacific29 39 37 40 
Latin America41 52 39 45 
Total460 476 378 476 
(1) Recurring revenue includes revenue from aftermarket parts and services, re-build services on customer owned equipment, operating leases of equipment, and subscription-based software applications. Non-recurring revenue includes new equipment and installation and the sale of software licenses.
(2) Geographical region represents the region in which the end customer resides.
(3) Segment revenues for the three months ended March 31, 2025 were recast to reflect the Company’s realignment of its reportable segments, effective in the fourth quarter of 2025.
Contract with Customer, Asset and Liability
Contract asset and liability balances for the period were as follows:
Balances as of
(In millions)March 31, 2026December 31, 2025
Contract Assets$142 $119 
Contract Liabilities539 499 
March 31, 2025December 31, 2024
Contract Assets145 95 
Contract Liabilities481 178