v3.24.2
Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations
 6 Months Ended
Jun. 30, 2024
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 and six months ended June 30, 2024 and 2023:
Three Months Ended June 30, 2024
(in millions)Technology & Analytics SolutionsResearch & Development SolutionsContract Sales & Medical SolutionsTotal
Revenues:
Americas$783 $1,014 $66 $1,863 
Europe and Africa569 557 52 1,178 
Asia-Pacific143 576 54 773 
Total revenues$1,495 $2,147 $172 $3,814 
Three Months Ended June 30, 2023
(in millions)Technology & Analytics SolutionsResearch & Development SolutionsContract Sales & Medical SolutionsTotal
Revenues:
Americas$772 $979 $70 $1,821 
Europe and Africa531 536 49 1,116 
Asia-Pacific153 581 57 791 
Total revenues$1,456 $2,096 $176 $3,728 
Six Months Ended June 30, 2024
(in millions)Technology & Analytics SolutionsResearch & Development SolutionsContract Sales & Medical SolutionsTotal
Revenues:
Americas$1,526 $2,000 $139 $3,665 
Europe and Africa1,131 1,092 112 2,335 
Asia-Pacific291 1,150 110 1,551 
Total revenues$2,948 $4,242 $361 $7,551 
Six Months Ended June 30, 2023
(in millions)Technology & Analytics SolutionsResearch & Development SolutionsContract Sales & Medical SolutionsTotal
Revenues:
Americas$1,507 $1,965 $150 $3,622 
Europe and Africa1,087 1,027 96 2,210 
Asia-Pacific306 1,130 112 1,548 
Total revenues$2,900 $4,122 $358 $7,380 
No individual customer represented 10% or more of consolidated revenues for the three and six months ended June 30, 2024 or 2023.
Transaction Price Allocated to the Remaining Performance Obligations
As of June 30, 2024, approximately $32.8 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 80% 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