v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
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)2026202520262025
Warehousing operations$875 $855 $1,731 $1,698 
Warehouse lease revenues73 83 145 151 
Managed services54 27 107 54 
Other3 5 7 11 
Total Global Warehousing1,005 970 1,990 1,914 
Transportation173 198 323 386 
Food sales60 61 104 105 
Redistribution revenues60 59 119 113 
E-commerce and other42 44 82 87 
Railcar lease revenues21 18 40 37 
Total Global Integrated Solutions356 380 668 728 
Total net revenues$1,361 $1,350 $2,658 $2,642 
As of June 30, 2026, the Company had $1,736 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 is fully constrained because the amount cannot be reasonably estimated. The Company expects to recognize 19.4% of these remaining performance obligations as revenue over the next 12 months and the remaining 80.6% to be recognized over a weighted average period of 10.0 years through 2043.
Accounts receivable balances related to contracts with customers were $814 million and $785 million as of June 30, 2026 and December 31, 2025, respectively.
Deferred revenue balances related to contracts with customers were $77 million and $80 million as of June 30, 2026 and December 31, 2025, respectively. Substantially all revenue that was included in the deferred revenue balance at the beginning of 2026 has been recognized as of June 30, 2026 and represents revenue from the satisfaction of storage and handling services billed in advance.