Revenue Recongition (Tables)

9 Months Ended

Sep. 30, 2018

In the following table, revenue is disaggregated by major lines of goods and services and timing of transfer of goods and services. We have determined that these categories depict how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. The table below also includes a reconciliation of the disaggregated revenue with our reportable segments.



	Three Months Ended September 30, 2018
	Domestic		Import		Premium Luxury		Corporate and other⁽¹⁾		Total
Major Goods/Service Lines
New vehicle	$	988.5	$	1,070.3	$	874.3	$	—	$	2,933.1
Used vehicle	424.4		365.3		463.6		28.4		1,281.7
Parts and service	271.6		235.8		269.4		87.2		864.0
Finance and insurance, net	88.6		94.4		60.0		4.4		247.4
Other	16.6		4.8		1.5		0.1		23.0
	$	1,789.7	$	1,770.6	$	1,668.8	$	120.1	$	5,349.2

Timing of Revenue Recognition
Goods and services transferred at a point in time	$	1,613.5	$	1,591.6	$	1,441.5	$	35.0	$	4,681.6
Goods and services transferred over time⁽²⁾	176.2		179.0		227.3		85.1		667.6
	$	1,789.7	$	1,770.6	$	1,668.8	$	120.1	$	5,349.2



	Nine Months Ended September 30, 2018
	Domestic		Import		Premium Luxury		Corporate and other⁽¹⁾		Total
Major Goods/Service Lines
New vehicle	$	2,913.7	$	3,045.0	$	2,726.3	$	—	$	8,685.0
Used vehicle	1,334.4		1,092.3		1,405.9		78.3		3,910.9
Parts and service	810.8		707.1		804.1		257.6		2,579.6
Finance and insurance, net	263.2		275.8		178.6		18.4		736.0
Other	67.4		20.0		1.9		0.3		89.6
	$	5,389.5	$	5,140.2	$	5,116.8	$	354.6	$	16,001.1

Timing of Revenue Recognition
Goods and services transferred at a point in time	$	4,870.0	$	4,603.3	$	4,440.5	$	100.2	$	14,014.0
Goods and services transferred over time⁽²⁾	519.5		536.9		676.3		254.4		1,987.1
	$	5,389.5	$	5,140.2	$	5,116.8	$	354.6	$	16,001.1

⁽¹⁾ “Corporate and other” is comprised of our other businesses, including collision centers, AutoNation USA stand-alone used vehicle sales and service centers, and automotive auctions.
⁽²⁾ Represents revenue recognized during the period for automotive repair and maintenance services.

Receivables from Contracts with Customers, Contract Assets, and Contract Liabilities

The opening and closing balances of our receivables from contracts with customers and our current and long-term contract assets and contract liabilities are as follows:



	September 30, 2018		January 1, 2018
Receivables from contracts with customers, net	$	569.7	$	854.3
Contract Asset (Current)	$	24.8	$	18.4
Contract Asset (Long-Term)	$	13.3	$	1.4
Contract Liability (Current)	$	31.9	$	26.7
Contract Liability (Long-Term)	$	64.4	$	63.8



	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
Revenue recognized in the period from:
Amounts included in contract liability at the beginning of the period	$	6.8	$	21.7
Performance obligations satisfied in previous periods	$	4.1	$	16.0

The differences between the opening and closing balances of our contract assets and contract liabilities primarily result from the timing differences between our performance and the customer’s payment, as well as changes in the estimated transaction price related to variable consideration that was constrained for performance obligations satisfied in previous periods. Other significant changes include contract assets of $8.3 million reclassified to receivables.

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

he following table includes estimated revenue expected to be recognized in the future related to VCP performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.



	Revenue Expected to Be Recognized by Period
	Total		Less Than 1 Year		1 - 3 Years		3 - 5 Years
Revenue expected to be recognized on VCP contracts sold as of period end	$	95.5	$	31.1	$	47.4	$	17.0