v3.24.0.1
Deferred Revenue
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Deferred Revenue Deferred Revenue
    
Years ended
 December 31, 2023December 31, 2022
$$
Balance, beginning of the year564 380 
Deferral of revenue213 400 
Recognition of deferred revenue(1)
(279)(216)
Balance, end of the year498 564 
(1) Includes impairment of deferred revenue due to the sales of Shopify's logistics businesses (see Note 4) during the year ended December 31, 2023.

December 31, 2023December 31, 2022
$$
Current portion302 296 
Long-term portion196 268 
498 564 

The opening balances of current and long-term deferred revenue were $217 and $163, respectively, as of January 1, 2022.

As of December 31, 2023, the long-term deferred revenue, excluding non-cash consideration received, will be recognized ratably over the remaining terms of the contracts with the customers, which range from two to three years.

The Company has received non-cash consideration in the form of equity investments in exchange for services to be rendered as part of strategic partnerships. As the Company is required to provide referral services and other services to support the partners' merchant offerings over the period of the performance obligations, revenue is deferred and recognized over time on a ratable basis over the expected terms of the contracts.
The table below summarizes the gross changes in deferred revenue associated with this non-cash consideration received for the years ended December 31, 2023 and 2022.

Years Ended
 December 31, 2023December 31, 2022
$$
Balance, beginning of the year382 230 
Non-cash consideration received in exchange for services60 273 
Revenue recognized related to non-cash consideration(158)(121)
Balance, end of the year284 382 
Current portion95 135 
Long term portion189 247 
284 382 
The Company will recognize this revenue ratably over the remaining terms of the respective strategic partnership service agreements, which range from one to six years.