v3.26.1
Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 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
June 30, 2026
Three Months Ended June 30, 2025 (3)
(In millions)Protein SolutionsPrepared Food and Beverage SolutionsProtein SolutionsPrepared Food and Beverage Solutions
Type of Good or Service
Recurring (1)
$239 $258 $228 $257 
Non-recurring (1)
228 256 193 257 
Total467 514 421 514 
Geographical Region (2)
U.S. and Canada146 233 129 253 
Europe, Middle East and Africa239 180 197 165 
Asia Pacific41 40 48 53 
Latin America41 61 47 43 
Total467 514 421 514 
Six Months Ended
June 30, 2026
Six Months Ended June 30, 2025 (3)
(In millions)Protein SolutionsPrepared Food and Beverage SolutionsProtein SolutionsPrepared Food and Beverage Solutions
Type of Good or Service
Recurring (1)
$474 $508 $437 $497 
Non-recurring (1)
453 482 362 493 
Total927 990 799 990 
Geographical Region (2)
U.S. and Canada279 456 258 470 
Europe, Middle East and Africa496 342 370 339 
Asia Pacific70 79 85 93 
Latin America82 113 86 88 
Total927 990 799 990 
(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 and six months ended June 30, 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)June 30, 2026December 31, 2025
Contract Assets$144 $119 
Contract Liabilities545 499 
June 30, 2025December 31, 2024
Contract Assets129 95 
Contract Liabilities508 178