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REVENUE RECOGNITION
 12 Months Ended
Dec. 31, 2022
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,
202220212020
(In millions)
Revenue:
   New vehicle$7,365.6 $4,934.1 $3,767.4 
   Used vehicle retail4,828.8 3,055.9 1,930.0 
   Used vehicle wholesale368.3 259.7 239.5 
New and used vehicle12,562.6 8,249.7 5,936.9 
  Sale of vehicle parts and accessories510.2 212.0 140.1 
  Vehicle repair and maintenance services1,564.1 970.9 749.7 
Parts and services2,074.2 1,182.9 889.8 
Finance and insurance, net797.0 405.1 305.1 
Total revenue$15,433.8 $9,837.7 $7,131.8 
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 (Current), December 31, 2020$7.1 $13.3 $— $20.4 
Transferred to receivables from contract assets recognized at the beginning of the period(7.1)(14.7)— (21.8)
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period12.3 14.9 1.4 28.6 
Contract Assets (Current), December 31, 2021$12.3 $13.5 $1.4 $27.2 
Transferred to receivables from contract assets recognized at the beginning of the period(12.3)(13.5)— (25.8)
Amortization of costs incurred to obtain a contract with a customer— — (4.6)(4.6)
Costs incurred to obtain a contract with a customer— — 40.3 40.3
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period14.7 14.7 — 29.4 
Contract Assets, December 31, 2022$14.7 $14.7 $37.2 $66.6 
Contract Assets (current), December 31, 2022$14.7 $14.7 $11.1 $40.5 
Contract Assets (long-term), December 31, 2022$— $— $26.1 $26.1 
Contract Liabilities
The Company acquired $667.6 million in deferred revenue as part of the Larry H. Miller and TCA acquisition in December 2021. The consolidated balance sheet reflects $713.9 million and $647.8 million as of December 31, 2022 and 2021, respectively. Approximately $209.6 million of deferred revenue at December 31, 2021 was recorded in finance and insurance, net revenue in the consolidated statement of income for the year ended December 31, 2022.