Lineage Inc

(3)Revenue

The following table disaggregates the Company’s net revenues by major stream and reportable segment.

The Company has no material warranties or obligations for allowances, refunds, or other similar obligations. As a practical expedient, the Company does not assess whether a contract has a significant financing component, as the period between the transfer of service to the customer and the receipt of customer payment is less than a year.

As of December 31, 2024, the Company had $1,127 million of remaining unsatisfied performance obligations from contracts with customers subject to a non-cancellable term and within contracts that have an original expected duration exceeding one year. These obligations also do not include variable consideration beyond the non-cancellable term, which, due to the inability to quantify by estimate, is fully constrained. The Company expects to recognize 18.6% of these remaining performance obligations as revenue over the next 12 months and the remaining 81.4% to be recognized over a weighted average period of 9.9 years through 2043.

Accounts receivable balances related to contracts with customers were$719 million and$805 million as of December 31, 2024 and December 31, 2023, respectively.

Deferred revenue balances related to contracts with customers were $81 million and$93 million as of December 31, 2024 and December 31, 2023, respectively. Substantially all revenue that was included in the deferred revenue balances at the beginning of 2024 and 2023 has been recognized as of December 31, 2024 and 2023, respectively, and represents revenue from the satisfaction of storage and handling services billed in advance.

Future minimum lease payments under operating leases, including railcar leases and subleases, with original terms in excess of one year to be received from customers for each of the next five years and thereafter are as follows (in millions):