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Deferred Revenue (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

The changes in our deferred revenue during 2024 and 2023 are as follows (in millions):


	Listing Revenues		Data Services and Other Revenues		Mortgage Technology		Total
Deferred revenue balance at January 1, 2023	$	115	$	88	$	51	$	254
Additions(1)	490		401		177		1,068
Amortization	(497)		(396)		(122)		(1,015)
Deferred revenue balance at December 31, 2023	108		93		106		307
Additions	500		400		147		1,047
Amortization	(489)		(363)		(169)		(1,021)
Deferred revenue balance at December 31, 2024	$	119	$	130	$	84	$	333

(1) Additions in our Mortgage Technology segment in the table above include $68 million of deferred revenue acquired on the date of the Black Knight acquisition (Note 3) and $37 million of Black Knight related deferred revenue added in the period after the date of acquisition through December 31, 2023.

As of December 31, 2024, we estimate that our deferred revenue will be recognized in the following years (in millions):


	Listing Revenues		Data Services and Other Revenues		Mortgage Technology		Total
2025	$	41	$	122	$	74	$	237
2026	36		5		5		46
2027	25		2		2		29
2028	12		1		2		15
2029	4		—		1		5
Thereafter	1		—		—		1
Total	$	119	$	130	$	84	$	333