XML 88 R36.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2019
Summary of Unbilled Receivables, Contract Assets and Contract Liabilities from Contracts with Customers
Information about unbilled receivables, contract assets and contract liabilities from contracts with customers is as follows (in millions):
 
December 31,
2019
 
 
December 31,
2018
 
Unbilled receivables
 
$
556.4
 
 
$
496.2
 
Deferred contract costs
 
 
98.3
 
 
 
91.6
 
Deferred revenue
 
 
503.8
 
 
 
457.7
 
Summary of Changes in Deferred Revenue Balances
Significant changes in the deferred revenue balances, which include foreign currency translation adjustments, during the period are as follows (in millions):
 
Brokerage
 
 
Risk
Management
 
 
Total
 
 
 
 
 
 
 
 
 
 
Deferred revenue at December 31, 2017
 
$
258.7
 
 
$
171.9
 
 
$
430.6
 
Incremental deferred revenue
 
 
244.0
 
 
 
138.1
 
 
 
382.1
 
Revenue recognized during the year ended December 31, 2018 included in deferred revenue at December 31, 2017
 
 
(236.5
)
 
 
(137.0
)
 
 
(373.5
)
Deferred revenue recognized from business acquisitions
 
 
18.5
 
 
 
—  
 
 
 
18.5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred revenue at December 31, 2018
 
 
284.7
 
 
 
173.0
 
 
 
457.7
 
Incremental deferred revenue
 
 
276.2
 
 
 
136.9
 
 
 
413.1
 
Revenue recognized during the year ended December 31, 2019 included in deferred revenue at December 31, 2018
 
 
(254.3
)
 
 
(143.3
)
 
 
(397.6
)
Deferred revenue recognized from business acquisitions
 
 
30.6
 
 
 
—  
 
 
 
30.6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred revenue at December 31, 2019
 
$
337.2
 
 
$
166.6
 
 
$
503.8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of Expected Revenue Related to Performance Obligations
The estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period is as follows (in millions):
 
Brokerage
 
 
Risk
Management
 
 
Total
 
2020
 
$
309.6
 
 
$
93.2
 
 
$
402.8
 
2021
 
 
23.6
 
 
 
33.8
 
 
 
57.4
 
2022
 
 
1.8
 
 
 
15.7
 
 
 
17.5
 
2023
 
 
1.1
 
 
 
8.5
 
 
 
9.6
 
2024
 
 
0.5
 
 
 
4.9
 
 
 
5.4
 
Thereafter
 
 
0.6
 
 
 
10.5
 
 
 
11.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
337.2
 
 
$
166.6
 
 
$
503.8