XML 26 R11.htm IDEA: XBRL DOCUMENT
v3.25.3

REVENUE | 9 Months Ended
--- | ---
Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Revenue, classified by the major geographic areas in which our customers are located, was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
United States | $ | 952,677 |  |  | $ | 850,253 |  |  | $ | 2,643,928 |  |  | $ | 2,371,952 |  |  |  |  |
Other countries | 73,429 |  |  | 66,017 |  |  | 204,209 |  |  | 184,587 |  |  |  |  |
Total revenues | $ | 1,026,106 |  |  | $ | 916,270 |  |  | $ | 2,848,137 |  |  | $ | 2,556,539 |  |  |  |  |
Revenue from external customers, classified by significant service offering, was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Residential revenues | $ | 476,271 |  |  | $ | 428,290 |  |  | $ | 1,288,249 |  |  | $ | 1,166,042 |  |  |  |  |
Commercial revenues | 334,956 |  |  | 299,633 |  |  | 939,803 |  |  | 845,517 |  |  |  |  |
Termite and ancillary revenues | 204,670 |  |  | 177,674 |  |  | 588,655 |  |  | 515,758 |  |  |  |  |
Franchise revenues | 4,312 |  |  | 4,282 |  |  | 11,990 |  |  | 12,688 |  |  |  |  |
Other revenues | 5,897 |  |  | 6,391 |  |  | 19,440 |  |  | 16,534 |  |  |  |  |
Total revenues | $ | 1,026,106 |  |  | $ | 916,270 |  |  | $ | 2,848,137 |  |  | $ | 2,556,539 |  |  |  |  |
The Company records unearned revenue when we have either received payment or contractually have the right to bill for services in advance of the services or performance obligations being performed. Unearned revenue recognized in the three months ended September 30, 2025 and 2024 was $69.9 million and $63.8 million, respectively. Unearned revenue recognized in the nine months ended September 30, 2025 and 2024 was $205.8 million and $189.1 million, respectively. Changes in unearned revenue were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Beginning balance | $ | 243,459 |  |  | $ | 233,899 |  |  | $ | 223,872 |  |  | $ | 210,059 |
Deferral of unearned revenue | 71,100 |  |  | 69,980 |  |  | 226,581 |  |  | 219,145 |
Recognition of unearned revenue | (69,881) |  |  | (63,819) |  |  | (205,775) |  |  | (189,144) |
Ending balance | $ | 244,678 |  |  | $ | 240,060 |  |  | $ | 244,678 |  |  | $ | 240,060 |
As of September 30, 2025 and December 31, 2024, the Company had long-term unearned revenue of $44.5 million and $43.0 million, respectively, recorded in other long-term accrued liabilities on our condensed consolidated statements of financial position. Unearned short-term revenue is recognized over the next 12-month period. During the three and nine months ended September 30, 2025, we recognized $45.2 million and $135.6 million of revenue that was included in the balance of unearned revenue at December 31, 2024. During the three and nine months ended September 30, 2024, we recognized $43.1 million and $129.3 million of revenue that was included in the balance of unearned revenue at December 31, 2023. The majority of unearned long-term revenue is recognized over a period of five years or less with immaterial amounts recognized through 2035. Incremental Costs of Obtaining a Contract with a Customer Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, primarily sales commissions. These costs are recorded as an asset and amortized to expense over the life of the contract to the extent such costs are expected to be recovered. As of September 30, 2025, we have $23.5 million of unamortized capitalized costs to obtain a contract, of which $11.2 million is recorded within other current assets and $12.3 million is recorded within other assets on our condensed consolidated statements of financial position. As of December 31, 2024, we had $23.4 million of unamortized capitalized costs to obtain a contract, of which $19.3 million was recorded within other current assets and $4.1 million was recorded within other assets on our condensed consolidated statements of financial position. Amortization of capitalized costs is recorded within sales, general and administrative expense on our condensed consolidated statements of income. During the three and nine months ended September 30, 2025, we recorded approximately $9.4 million and $24.4 million, respectively, of amortization of capitalized costs. During the three and nine months ended September 30, 2024, we recorded $6.7 million and $14.7 million of amortization of capitalized costs.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration