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Revenue Recongition (Tables) | 9 Months Ended
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Sep. 30, 2019
Revenue Recognition [Abstract] |
Disaggregation of Revenue | In the following tables, 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 tables below also include a reconciliation of disaggregated revenue to reportable segment revenue.
|  | Three Months Ended September 30, 2019
|  | Domestic |  | Import |  | Premium Luxury |  | Corporate and other(1) |  | Total
Major Goods/Service Lines |  |  |  |  |  |  |  |  |  |
New vehicle |  | $ | 925.4 |  |  | $ | 1,003.8 |  |  | $ | 945.6 |  |  | $ | — |  |  | $ | 2,874.8 |
Used vehicle |  | 456.6 |  |  | 386.4 |  |  | 519.7 |  |  | 40.2 |  |  | 1,402.9 |
Parts and service |  | 244.7 |  |  | 226.1 |  |  | 283.8 |  |  | 148.0 |  |  | 902.6 |
Finance and insurance, net |  | 95.1 |  |  | 99.9 |  |  | 70.0 |  |  | 1.2 |  |  | 266.2 |
Other |  | 6.8 |  |  | 6.3 |  |  | 1.4 |  |  | 0.2 |  |  | 14.7 |
|  | $ | 1,728.6 |  |  | $ | 1,722.5 |  |  | $ | 1,820.5 |  |  | $ | 189.6 |  |  | $ | 5,461.2 |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |
Goods and services transferred at a point in time |  | $ | 1,547.1 |  |  | $ | 1,543.1 |  |  | $ | 1,579.0 |  |  | $ | 99.4 |  |  | $ | 4,768.6 |
Goods and services transferred over time(2) |  | 181.5 |  |  | 179.4 |  |  | 241.5 |  |  | 90.2 |  |  | 692.6 |
|  | $ | 1,728.6 |  |  | $ | 1,722.5 |  |  | $ | 1,820.5 |  |  | $ | 189.6 |  |  | $ | 5,461.2 |
|  | 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, 2019
|  | Domestic |  | Import |  | Premium Luxury |  | Corporate and other(1) |  | Total
Major Goods/Service Lines |  |  |  |  |  |  |  |  |  |
New vehicle |  | $ | 2,600.9 |  |  | $ | 2,740.1 |  |  | $ | 2,800.1 |  |  | $ | — |  |  | $ | 8,141.1 |
Used vehicle |  | 1,347.0 |  |  | 1,143.9 |  |  | 1,524.2 |  |  | 106.8 |  |  | 4,121.9 |
Parts and service |  | 722.2 |  |  | 675.5 |  |  | 847.7 |  |  | 435.4 |  |  | 2,680.8 |
Finance and insurance, net |  | 265.3 |  |  | 275.8 |  |  | 200.0 |  |  | 16.8 |  |  | 757.9 |
Other |  | 69.3 |  |  | 10.6 |  |  | 3.5 |  |  | 1.7 |  |  | 85.1 |
|  | $ | 5,004.7 |  |  | $ | 4,845.9 |  |  | $ | 5,375.5 |  |  | $ | 560.7 |  |  | $ | 15,786.8 |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |  |
Goods and services transferred at a point in time |  | $ | 4,473.6 |  |  | $ | 4,313.3 |  |  | $ | 4,654.0 |  |  | $ | 290.8 |  |  | $ | 13,731.7 |
Goods and services transferred over time(2) |  | 531.1 |  |  | 532.6 |  |  | 721.5 |  |  | 269.9 |  |  | 2,055.1 |
|  | $ | 5,004.7 |  |  | $ | 4,845.9 |  |  | $ | 5,375.5 |  |  | $ | 560.7 |  |  | $ | 15,786.8 |
|  | 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, auction operations, AutoNation USA stand-alone used vehicle sales and service centers, and parts distribution centers.
(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, 2019 |  | December 31, 2018
Receivables from contracts with customers, net | $ | 571.2 |  |  | $ | 706.7 |
Contract Asset (Current) | $ | 25.6 |  |  | $ | 28.2 |
Contract Asset (Long-Term) | $ | 10.1 |  |  | $ | 17.4 |
Contract Liability (Current) | $ | 32.3 |  |  | $ | 31.6 |
Contract Liability (Long-Term) | $ | 58.1 |  |  | $ | 61.9 |
| Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Revenue recognized in the period from: |  |  |
Amounts included in contract liability at the beginning of the period | $ | 7.4 |  |  | $ | 28.9 |
Performance obligations satisfied in previous periods | $ | 2.0 |  |  | $ | 8.8 |
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 $27.5 million reclassified to receivables.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The 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 |  | $ | 89.6 |  |  | $ | 29.1 |  |  | $ | 44.9 |  |  | $ | 15.6 |

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