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REVENUE RECOGNITION
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenue
Revenue from contracts with customers consists of the following:
For the year ended December 31,
202420232022
(In millions)
Revenue:
   New vehicle$8,849.7 $7,630.7 $7,365.6 
   Used vehicle retail4,605.9 4,017.5 4,828.8 
   Used vehicle wholesale612.3 396.7 368.3 
New and used vehicle14,067.9 12,045.0 12,562.6 
  Sale of vehicle parts and accessories516.2 496.3 510.2 
  Vehicle repair and maintenance services1,838.5 1,585.3 1,564.1 
Parts and services2,354.7 2,081.5 2,074.2 
Finance and insurance, net766.0 676.2 797.0 
Total revenue$17,188.6 $14,802.7 $15,433.8 
Contract Assets
Changes in contract assets during the period are reflected in the table below. Contract assets related to vehicle repair and maintenance services are transferred to receivables when a repair order is completed and invoiced to the customer. Certain incremental sales commissions payable to obtain an F&I revenue contract with a customer have been capitalized and are amortized using the same pattern of recognition applicable to the associated F&I revenue contract.
Vehicle Repair and Maintenance ServicesFinance and Insurance, netDeferred Sales CommissionsTotal
(In millions)
Contract Assets, December 31, 2022$14.7 $14.7 $37.2 $66.6 
Transferred to receivables from contract assets recognized at the beginning of the period(14.7)(14.7)— (29.4)
Amortization of costs incurred to obtain a contract with a customer— — (12.2)(12.2)
Costs incurred to obtain a contract with a customer— — 43.3 43.3
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period20.5 13.8 — 34.3 
Contract Assets, December 31, 2023$20.5 $13.8 $68.4 $102.7 
Transferred to receivables from contract assets recognized at the beginning of the period(20.5)(13.8)— (34.3)
Amortization of costs incurred to obtain a contract with a customer— — (19.5)(19.5)
Costs incurred to obtain a contract with a customer— — 41.2 41.2
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period17.8 12.8 — 30.5 
Contract Assets, December 31, 2024$17.8 $12.8 $90.1 $120.7 
Contract Assets (current), December 31, 2024$17.8 $12.8 $24.2 $54.7 
Contract Assets (long-term), December 31, 2024$— $— $65.9 $65.9 
Deferred Revenue
The consolidated balance sheet reflects $766.0 million and $736.7 million in deferred revenue as of December 31, 2024 and 2023, respectively. Approximately $239.3 million and $227.9 million of deferred revenue at December 31, 2023 and 2022, was recorded in finance and insurance, net revenue in the consolidated statements of income for the years ended December 31, 2024 and 2023, respectively.