Revenue

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The total amount of the transaction price for our revenue contracts allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2023 is as follows:

	Remainder of 2023		2024		2025		2026		2027		Thereafter		Total
Future revenue	$	1,083.5	$	739.6	$	407.9	$	212.5	$	121.9	$	367.9	$	2,933.3

The table of future revenue does not include any amount of variable consideration that is a sales or usage-based royalty in exchange for distinct data licenses or that is allocated to a distinct service period within a single performance obligation that is a series of distinct service periods.

Timing of Revenue Recognition

	Three months ended March 31,
	2023		2022
Revenue recognized at a point in time	$	215.6	$	208.8
Revenue recognized over time	324.8		327.2
Total revenue recognized	$	540.4	$	536.0

Contract Balances

	At March 31, 2023		At December 31, 2022
Accounts receivable, net	$	181.4	$	271.6
Short-term contract assets (1)	$	7.3	$	6.2
Long-term contract assets (2)	$	12.7	$	5.6
Short-term deferred revenue	$	624.9	$	563.1
Long-term deferred revenue (3)	$	27.8	$	13.9

(1) Included within "Other current assets" in the condensed consolidated balance sheet.

(2) Included within "Other non-current assets" in the condensed consolidated balance sheet.

(3) Included within "Other non-current liabilities" in the condensed consolidated balance sheet.

The decrease in accounts receivable of $90.2 million from December 31, 2022 to March 31, 2023 was primarily due to seasonal fluctuation and activities associated with our accounts receivable securitization facility during the first quarter of 2023. See Note 6 for a more detailed discussion.

The increase in deferred revenue of $75.7 million from December 31, 2022 to March 31, 2023 was primarily due to cash payments received or due in advance of satisfying our performance obligations, largely offset by $240.7 million of revenue recognized that was included in the deferred revenue balance at December 31, 2022.

The increase in contract assets of $8.2 million was primarily due to new contract assets recognized, net of new amounts reclassified to receivables during 2023, partially offset by $11.7 million of contract assets included in the balance at January 1, 2023 that were reclassified to receivable when they became unconditional.

See Note 16 for a schedule detailing the disaggregation of revenue.

Assets Recognized for the Costs to Obtain a Contract

Commission assets, net of accumulated amortization included in deferred costs, were $143.6 million and $143.7 million as of March 31, 2023 and December 31, 2022, respectively.

The amortization of commission assets was $10.3 million and $8.6 million for the three months ended March 31, 2023 and 2022, respectively.