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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

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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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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