v3.25.4
Deferred Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Revenue The changes in our deferred revenue during 2025 and 2024 are as follows (in millions):
Listing RevenuesData Services and Other RevenuesMortgage TechnologyTotal
Deferred revenue balance at January 1, 2024
$108 $93 $106 $307 
Additions500 400 147 1,047 
Amortization
(489)(363)(169)(1,021)
Deferred revenue balance at December 31, 2024
$119 $130 $84 $333 
Additions495 339 138 972 
Amortization
(495)(368)(150)(1,013)
Deferred revenue balance at December 31, 2025
$119 $101 $72 $292 
As of December 31, 2025, we estimate that our deferred revenue will be recognized in the following years (in millions):
Listing RevenuesData Services and Other RevenuesMortgage TechnologyTotal
2026$47 $97 $60 $204 
202735 3 5 43 
202821 1 3 25 
202911 — 1 12 
20305 — 1 6 
Thereafter— — 2 2 
Total$119 $101 $72 $292