v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table provides information about disaggregated revenue by major service offering and reportable segment and the timing of revenue recognition. Refer to Note 4 – Segment Reporting for additional information on the Company's reportable segments.
Three Months Ended
March 31,
(in millions)20262025
Commercial:
Customer Experience Management$119 $144 
BPaaS115 117 
Integrated Digital Solutions127 141 
Total Commercial361 402 
Government:
Government Healthcare Solutions137 126 
Government Services Solutions89 90 
Total Government226 216 
Transportation:
Road Usage Charging & Management Solutions53 65 
Transit Solutions83 68 
Total Transportation136 133 
Total Consolidated Revenue$723 $751 
Timing of Revenue Recognition:
Point in time$26 $23 
Over time697 728 
Total Revenue$723 $751 
Contract Balances
The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets are the Company’s rights to consideration for services provided when the right is conditioned on something other than passage of time (for example, meeting a milestone for the right to bill under the cost-to-cost measure of progress). Contract assets are transferred to Accounts receivable, net when the rights to consideration become unconditional. Contract liabilities include payments received in advance of performance under the contract, which are realized when the associated revenue is recognized under the contract.
The following table provides information about significant movements in contract assets (current and long-term) for the three months ended March 31, 2026 and 2025:
(in millions)20262025
Beginning balance$128 $135 
Additional contract assets recognized36 24 
Billed and transferred to Accounts receivable and other(38)(22)
Ending balance(1)
$126 $137 
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(1) Of which $7 million and $6 million are included in Other long-term assets as of March 31, 2026 and 2025, respectively.
The following table provides information about significant movements in contract liabilities balances (current and long-term) for the three months ended March 31, 2026 and 2025:
(in millions)20262025
Beginning balance$143 $155 
Deferral of income41 39 
Revenue recognized related to deferral of income(1)
(43)(63)
Ending balance(2)
$141 $131 
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(1) Of which $37 million and $52 million were recognized during the three months ended March 31, 2026 and 2025, respectively, that related to the Company's contract liabilities as of December 31, 2025 and 2024, respectively.
(2) Of which $68 million and $49 million are included in Other long-term liabilities as of March 31, 2026 and 2025, respectively.
Transaction Price Allocated to the Remaining Performance Obligations
Estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially satisfied at March 31, 2026 was approximately $1.2 billion. The Company expects to recognize approximately 75% of this revenue over the next two years and the remainder thereafter.