v3.24.3
Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
(3)
Revenue from Contracts with Customers

Contract assets as of September 30, 2024 and December 31, 2023 were $23 and $26, respectively. A roll-forward of the Company’s deferred revenue and customer advances is as follows:

 

 

Nine Months Ended

 

 

 

September 30, 2024

 

 

September 30, 2023

 

Beginning balance, January 1(1)

 

$

79

 

 

$

96

 

Additions to deferred revenue and customer advances

 

 

103

 

 

 

122

 

Amount of deferred revenue and customer advances recognized in income

 

 

(110

)

 

 

(136

)

Ending balance, September 30(2)

 

$

72

 

 

$

82

 

 

(1)
Beginning balance as of January 1, 2024 included $77 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Beginning balance as of January 1, 2023 included $94 of current deferred revenue and customer advances and $2 of non-current deferred revenue.
(2)
Ending balance as of September 30, 2024 included $70 of current deferred revenue and customer advances and $2 of non-current deferred revenue. Ending balance as of September 30, 2023 included $80 of current deferred revenue and customer advances and $2 of non-current deferred revenue.

Revenue from certain custom products, including MSD plating equipment, and revenue from certain service contracts are recorded over time. Remaining product and services revenues are recorded at a point in time.

Disaggregation of Revenue

The following tables summarize product and service revenue from contracts with customers in MKS’ three reportable segments.

 

 

Three Months Ended September 30, 2024

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

$

283

 

 

$

209

 

 

$

284

 

 

$

776

 

Services

 

 

62

 

 

 

42

 

 

 

16

 

 

 

120

 

Total net revenues

 

$

345

 

 

$

251

 

 

$

300

 

 

$

896

 

 

 

 

Three Months Ended September 30, 2023

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

$

294

 

 

$

225

 

 

$

299

 

 

$

818

 

Services

 

 

60

 

 

 

42

 

 

 

12

 

 

 

114

 

Total net revenues

 

$

354

 

 

$

267

 

 

$

311

 

 

$

932

 

 

 

 

Nine Months Ended September 30, 2024

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

$

833

 

 

$

633

 

 

$

835

 

 

$

2,301

 

Services

 

 

179

 

 

 

126

 

 

 

46

 

 

 

351

 

Total net revenues

 

$

1,012

 

 

$

759

 

 

$

881

 

 

$

2,652

 

 

 

 

 

Nine Months Ended September 30, 2023

 

 

 

VSD

 

 

PSD

 

 

MSD

 

 

Total

 

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

$

929

 

 

$

613

 

 

$

874

 

 

$

2,416

 

Services

 

 

163

 

 

 

111

 

 

 

40

 

 

 

314

 

Total net revenues

 

$

1,092

 

 

$

724

 

 

$

914

 

 

$

2,730

 

The following table summarizes revenue from contracts with customers in the Company’s three end markets: Semiconductor, Electronics and Packaging, and Specialty Industrial.

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Semiconductor

 

$

378

 

 

$

367

 

 

$

1,098

 

 

$

1,117

 

Electronics and Packaging

 

 

231

 

 

 

243

 

 

 

669

 

 

 

691

 

Specialty Industrial

 

 

287

 

 

 

322

 

 

 

885

 

 

 

922

 

 

$

896

 

 

$

932

 

 

$

2,652

 

 

$

2,730