v3.24.3
Revenue Recognition
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of Revenues
We disaggregate our revenue by geographic area, service offering and industry sector. The majority of our revenue, based on sales office location, is generated in the U.S. Approximately 8% and 7% of our revenues were generated outside the U.S. (primarily in Canada, Mexico, Asia and Europe) for the three months ended September 30, 2024 and 2023, respectively. Approximately 8% and 7% of our revenues were generated outside the U.S. (primarily in Canada, Mexico, Asia and Europe) for the nine months ended September 30, 2024 and 2023, respectively.
Our revenue disaggregated by service offering is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
Truck brokerage$655 $591 $1,762 $1,748 
Last mile268 256 765 757 
Managed transportation151 163 459 536 
Eliminations(34)(34)(103)(92)
Total$1,040 $976 $2,883 $2,949 
Revenue of $105 million for the Coyote acquisition subsequent to the acquisition date is included in Truck brokerage.
Our revenue disaggregated by industry sector is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2024202320242023
Retail/e-commerce$399 $380 $1,112 $1,139 
Industrial/manufacturing202 188 579 562 
Food and beverage125 117 324 329 
Automotive101 103 305 310 
Logistics and transportation62 52 145 146 
Other151 136 418 463 
Total$1,040 $976 $2,883 $2,949 
Performance Obligations
Remaining performance obligations represent firm contracts for which services have not been performed and future revenue recognition is expected. As permitted in determining the remaining performance obligation, we omit obligations that: (i) have original expected durations of one year or less or (ii) contain variable consideration. As of September 30, 2024, the fixed consideration component of our remaining performance obligations was approximately $39 million, and we expect approximately 100% of that amount to be recognized over the next 3 years. We estimate remaining performance obligations at a point in time and actual amounts may differ from these estimates due to contract revisions or terminations.