REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenues by operating segment and type of service consist of the following (in millions):

	Three Months Ended September 30,
	2024						2023
	North America		International		Total		North America		International		Total
CoStar	$	240.8	$	16.1	$	256.9	$	223.4	$	10.0	$	233.4
Information Services	28.2		4.8		33.0		35.2		9.4		44.6
Multifamily	271.8		—		271.8		235.3		—		235.3
LoopNet	68.1		2.8		70.9		65.0		2.5		67.5
Residential	17.0		10.7		27.7		10.3		—		10.3
Other Marketplaces	32.3		—		32.3		33.6		—		33.6
Total revenues	$	658.2	$	34.4	$	692.6	$	602.8	$	21.9	$	624.7

	Nine Months Ended September 30,
	2024						2023
	North America		International		Total		North America		International		Total
CoStar	$	713.6	$	46.6	$	760.2	$	658.7	$	28.8	$	687.5
Information Services	83.5		15.9		99.4		99.5		28.7		128.2
Multifamily	790.8		—		790.8		670.3		—		670.3
LoopNet	201.7		8.1		209.8		189.5		6.8		196.3
Residential	41.6		30.9		72.5		36.2		—		36.2
Other Marketplaces	94.1		—		94.1		96.4		—		96.4
Total revenues	$	1,925.3	$	101.5	$	2,026.8	$	1,750.6	$	64.3	$	1,814.9

Schedule of Contract with Customer, Asset and Liability

Deferred revenue as of September 30, 2024 and December 31, 2023 was as follows (in millions):

Balance	Balance Sheet Caption	September 30, 2024		December 31, 2023
Current portion	Deferred revenue	$	113.6	$	104.2
Non-current portion	Lease and other long-term liabilities	0.1		0.1
Total deferred revenue		$	113.7	$	104.3

Changes in deferred revenue for the period were as follows (in millions):

Balance at December 31, 2023	$	104.3
Revenues recognized in the current period from the amounts in the beginning balance	(100.9)
New deferrals, net of amounts recognized in the current period	109.1
Effects of foreign currency	1.2
Balance at September 30, 2024	$	113.7

Contract assets as of September 30, 2024 and December 31, 2023 were as follows (in millions):

Balance	Balance Sheet Caption	September 30, 2024		December 31, 2023
Current portion	Prepaid expenses and other current assets	$	5.7	$	5.8
Non-current portion	Deposits and other assets	7.0		8.0
Total contract assets		$	12.7	$	13.8

Schedule of Commissions Expense

Commissions expense activity for the three and nine months ended September 30, 2024 and 2023 was as follows (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Commissions incurred	$	40.0	$	42.1	$	136.5	$	134.4
Commissions capitalized in the current period	(24.5)		(28.1)		(92.1)		(93.1)
Amortization of deferred commissions costs	29.8		24.5		86.1		69.8
Total commissions expense	$	45.3	$	38.5	$	130.5	$	111.1