Transaction price allocated to remaining performance obligations

[Table of Contents](#ic4907372b5a74ad699ec049e915a6266_10)3. REVENUE RECOGNITIONThe majority of our revenue is generated from our sale of gas customers within the regional industrial gases segments. We distribute gases through either our on-site or merchant supply mode depending on various factors, including the customer's volume requirements and location. The Corporate and other segment serves our sale of equipment customers.Disaggregation of RevenueThe tables below present our consolidated sales disaggregated by supply mode for each of our reporting segments for the three months ended 31 December 2021 and 2020. We believe this presentation best depicts the nature, timing, type of customer, and contract terms for our sales.

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|  | Americas | Asia | Europe | Middle East and India | Corporateand other | Total | % |
| Three Months Ended 31 December 2021 |
| On-site | $797.6  |  | $451.6  |  | $325.6  |  | $16.3  |  | $—  |  | $1,591.1  |  | 53  | % |
| Merchant | 426.5  |  | 328.8  |  | 418.6  |  | 7.4  |  | —  |  | 1,181.3  |  | 40  | % |
| Sale of Equipment | —  |  | —  |  | —  |  | —  |  | 221.8  |  | 221.8  |  | 7  | % |
| Total  | $1,224.1  |  | $780.4  |  | $744.2  |  | $23.7  |  | $221.8  |  | $2,994.2  |  | 100  | % |
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| Three Months Ended 31 December 2020 |
| On-site | $541.3  |  | $414.9  |  | $176.5  |  | $12.2  |  | $—  |  | $1,144.9  |  | 48  | % |
| Merchant | 391.7  |  | 302.6  |  | 367.0  |  | 7.3  |  | —  |  | 1,068.6  |  | 45  | % |
| Sale of Equipment | —  |  | —  |  | —  |  | —  |  | 161.7  |  | 161.7  |  | 7  | % |
| Total  | $933.0  |  | $717.5  |  | $543.5  |  | $19.5  |  | $161.7  |  | $2,375.2  |  | 100  | % |



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Remaining Performance ObligationsAs of 31 December 2021, the transaction price allocated to remaining performance obligations is estimated to be approximately $24 billion. This amount includes fixed-charge contract provisions associated with our on-site and sale of equipment supply modes. We estimate that approximately half of this revenue will be recognized over approximately the next five years and the balance thereafter.Expected revenue associated with new on-site plants that are not yet on stream is excluded from this amount. In addition, this amount excludes consideration associated with contracts having an expected duration of less than one year and variable consideration for which we recognize revenue at the amount to which we have the right to invoice, including pass-through costs related to energy and natural gas. In the future, actual amounts will differ due to events outside of our control, including, but not limited to, inflationary price escalations; currency exchange rates; and amended, terminated, or renewed contracts. Contract BalancesThe table below details balances arising from contracts with customers:

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|  |  |  | 31 December | 30 September |
|  |  | Balance Sheet Location | 2021 | 2021 |
| Assets |  |  |  |  |
| Contract assets – current |  | Other receivables and current assets | $34.1  |  | $119.4  |  |
| Contract fulfillment costs – current |  | Other receivables and current assets | 150.3  |  | 125.5  |  |
| Liabilities |  |  |  |  |
| Contract liabilities – current |  | Payables and accrued liabilities | 519.4  |  | 366.8  |  |
| Contract liabilities – noncurrent |  | Other noncurrent liabilities | 59.2  |  | 58.4  |  |

Changes to our contract balances primarily relate to our sale of equipment contracts. During the three months ended 31 December 2021, we recognized approximately $90 in revenue associated with sale of equipment contracts that was included within our contract liabilities as of 30 September 2021.  
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