REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

The Company satisfies performance obligations either over time or at a point in time as discussed in further detail below. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised good or performing a service to a customer. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue.

Disaggregation of Revenue

The following table summarizes revenue from contracts with customers for the three months ended March 31, 2020 and 2019:

	For the Three Months Ended March 31,
	2020		2019
	(In millions)
Revenue:
New vehicle	$	822.1	$	871.8
Used vehicle retail	446.0		458.2
Used vehicle wholesale	47.2		51.7
New and used vehicle	1,315.3		1,381.7
Sale of vehicle parts and accessories	36.8		36.9
Vehicle repair and maintenance services	184.8		180.7
Parts and services	221.6		217.6
Finance and insurance, net	70.4		71.5
Total revenue	$	1,607.3	$	1,670.8

Contract Asset

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.

	Vehicle Repair and Maintenance Services			Finance and Insurance, net			Total
	(In millions)
Contract Assets (Current), January 1, 2020	$	4.8		$	12.3		$	17.1
Transferred to receivables from contract assets recognized at the beginning of the period	(4.8		)	(4.1		)	(8.9		)
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period	3.7			4.6			8.3
Contract Assets (Current), March 31, 2020	$	3.7		$	12.8		$	16.5