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Revenue (Tables)
9 Months Ended
Sep. 30, 2021
Revenue From Contract With Customer [Abstract]  
Summary of Disaggregation of Revenue

Disaggregation of Revenue

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

(Dollars in millions)

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cloud

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dayforce

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

$

160.3

 

 

$

122.7

 

 

$

456.2

 

 

$

369.3

 

Professional services and other

 

 

38.4

 

 

 

35.1

 

 

 

113.2

 

 

 

108.8

 

Total Dayforce revenue

 

 

198.7

 

 

 

157.8

 

 

 

569.4

 

 

 

478.1

 

Powerpay

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

 

20.7

 

 

 

18.6

 

 

 

61.5

 

 

 

56.6

 

Professional services and other

 

 

0.2

 

 

 

0.3

 

 

 

0.8

 

 

 

0.8

 

Total Powerpay revenue

 

 

20.9

 

 

 

18.9

 

 

 

62.3

 

 

 

57.4

 

Total Cloud revenue

 

 

219.6

 

 

 

176.7

 

 

 

631.7

 

 

 

535.5

 

Bureau

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

 

34.0

 

 

 

26.8

 

 

 

101.4

 

 

 

82.8

 

Professional services and other

 

 

3.6

 

 

 

0.9

 

 

 

9.0

 

 

 

1.4

 

Total Bureau revenue

 

 

37.6

 

 

 

27.7

 

 

 

110.4

 

 

 

84.2

 

Total revenue

 

$

257.2

 

 

$

204.4

 

 

$

742.1

 

 

$

619.7

 

Schedule of Changes in Deferred Revenue

Deferred revenue primarily consists of payments received in advance of revenue recognition. The changes in deferred revenue were as follows:

 

 

 

Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

 

 

(Dollars in millions)

 

Deferred revenue, beginning of period

 

$

24.4

 

 

$

25.5

 

New billings

 

 

399.6

 

 

 

313.2

 

Acquired billings

 

 

17.0

 

 

 

 

Revenue recognized

 

 

(394.0

)

 

 

(312.4

)

Effect of exchange rate

 

 

(0.5

)

 

 

(0.2

)

Deferred revenue, end of period

 

$

46.5

 

 

$

26.1