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REVENUE FROM CONTRACTS WITH CUSTOMERS | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
REVENUE FROM CONTRACTS WITH CUSTOMERS | REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregated Revenue The Company provides information, analytics and online marketplaces to the commercial real estate industry, hospitality industry, residential industry and related professionals. Revenues by operating segment and type of service consist of the following (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| North America |  | International |  | Total |  | North America |  | International |  | Total |  | North America |  | International |  | Total
CoStar | $ | 886.0 |  |  | $ | 39.2 |  |  | $ | 925.2 |  |  | $ | 800.2 |  |  | $ | 36.8 |  |  | $ | 837.0 |  |  | $ | 686.9 |  |  | $ | 35.9 |  |  | $ | 722.8 |
Information services | 132.4 |  |  | 38.5 |  |  | 170.9 |  |  | 125.0 |  |  | 32.4 |  |  | 157.4 |  |  | 113.8 |  |  | 27.9 |  |  | 141.7 |
Multifamily | 914.2 |  |  | — |  |  | 914.2 |  |  | 745.4 |  |  | — |  |  | 745.4 |  |  | 678.7 |  |  | — |  |  | 678.7 |
LoopNet | 255.4 |  |  | 9.4 |  |  | 264.8 |  | 223.7 |  | 7.2 |  | 230.9 |  | 204.8 |  |  | 2.7 |  |  | 207.5 |
Residential | 43.9 |  |  | 2.2 |  |  | 46.1 |  | 73.7 |  | — |  | 73.7 |  | 74.6 |  |  | — |  |  | 74.6 |
Other Marketplaces | 133.8 |  |  | — |  |  | 133.8 |  |  | 138.0 |  |  | — |  |  | 138.0 |  |  | 118.8 |  |  | — |  |  | 118.8 |
Total revenues | $ | 2,365.7 |  |  | $ | 89.3 |  |  | $ | 2,455.0 |  |  | $ | 2,106.0 |  |  | $ | 76.4 |  |  | $ | 2,182.4 |  |  | $ | 1,877.6 |  |  | $ | 66.5 |  |  | $ | 1,944.1 |
Deferred Revenue Deferred revenue as of December 31, 2023 and 2022 was as follows (in millions):
|  |  |  |  |  |  | December 31, |  |  |
Balance | Balance Sheet Caption |  |  |  |  |  | 2023 |  | 2022 |  |  |
Current portion | Deferred revenue |  |  |  |  |  | $ | 104.2 |  |  | $ | 103.6 |  |  |  |
Non-current portion | Lease and other long-term liabilities |  |  |  |  |  | 0.1 |  |  | 0.2 |  |  |  |
Total deferred revenue |  |  |  |  |  |  | $ | 104.3 |  |  | $ | 103.8 |  |  |  |
Changes in deferred revenue for the period were as follows (in millions):
Balance at December 31, 2022(1) | $ | 103.8 |
Revenue recognized in the current period from the amounts in the beginning balance | (103.8) |
New deferrals, net of amounts recognized in the current period | 103.4 |
Effects of foreign currency | 0.9 |
Balance at December 31, 2023(2) | $ | 104.3 |
__________________________ |
(1) This balance includes $1.8 million of net new deferrals recognized in connection with business acquisitions made in 2022. See Note 5 for further discussion of acquisitions. (2) This balance includes $1.0 million of net new deferrals recognized in connection with business acquisitions made in 2023. See Note 5 for further discussion of acquisitions. Contract Assets Contract assets are generated when contractual billing schedules differ from revenue recognition timing and represent a conditional right to consideration for satisfied performance obligations that becomes a receivable when the conditions are satisfied. Contract assets as of December 31, 2023 and 2022 were as follows (in millions):
|  |  |  |  |  |  | December 31, |  |  |
Balance | Balance Sheet Caption |  |  |  |  |  | 2023 |  | 2022 |  |  |
Current portion | Prepaid expenses and other current assets |  |  |  |  |  | $ | 5.8 |  |  | $ | 4.0 |  |  |  |
Non-current portion | Deposits and other assets |  |  |  |  |  | 8.0 |  |  | 8.4 |  |  |  |
Total contract assets |  |  |  |  |  |  | $ | 13.8 |  |  | $ | 12.4 |  |  |  |
Revenue recognized from contract assets for the years ended December 31, 2023 and 2022 were $1.4 million and $3.2 million, respectively. Commissions Commissions expense is included in selling and marketing expense in the Company's consolidated statements of operations. The Company determined that no deferred commissions were impaired as of both December 31, 2023 and 2022. Commissions expense activity for the years ended December 31, 2023, 2022 and 2021, was as follows (in millions):
|  |  | Year Ended December 31,
|  |  | 2023 |  | 2022 |  | 2021
Commissions incurred |  |  | $ | 173.5 |  |  | $ | 162.1 |  |  | $ | 117.3 |
Commissions capitalized in the current period |  |  | (120.2) |  |  | (116.8) |  |  | (72.0) |
Amortization of deferred commissions costs |  |  | 95.2 |  |  | 76.1 |  |  | 63.4 |
Total commissions expense |  |  | $ | 148.5 |  |  | $ | 121.4 |  |  | $ | 108.7 |
See Note 2 for the Company's policy on accounting for commissions. Unsatisfied Performance Obligations Remaining contract consideration for which revenue had not been recognized due to unsatisfied performance obligations was $409.6 million as of December 31, 2023, which the Company expects to recognize over the next five years. This amount does not include contract consideration for contracts with a duration of one year or less.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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