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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Disaggregation of 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 |
Summary of Deferred Revenue and Contract Assets | 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 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 |  |  |  |
Schedule of Commissions Expense | 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 |

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