Revenue

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 is as follows:

	Remainder of 2024		2025		2026		2027		2028		Thereafter		Total
Future revenue	$	799.7	$	893.0	$	565.7	$	260.4	$	167.9	$	271.3	$	2,958.0

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 June 30,				Six months ended June 30,
	2024		2023		2024		2023
Revenue recognized at a point in time	$	226.1	$	227.8	$	440.6	$	443.4
Revenue recognized over time	350.1		326.9		700.1		651.7
Total revenue recognized	$	576.2	$	554.7	$	1,140.7	$	1,095.1

Contract Balances

	At June 30, 2024		At December 31, 2023
Accounts receivable, net	$	197.3	$	258.0
Short-term contract assets (1)	$	6.7	$	4.3
Long-term contract assets (2)	$	24.3	$	18.0
Short-term deferred revenue	$	583.3	$	590.0
Long-term deferred revenue (3)	$	25.3	$	19.7

(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 $60.7 million from December 31, 2023 to June 30, 2024 was primarily due to seasonal fluctuation, net of drawing activities related to our accounts receivable facility.

The decrease in deferred revenue of $1.1 million from December 31, 2023 to June 30, 2024 was primarily due to $409.1 million of revenue recognized that was included in the deferred revenue balance at December 31, 2023, largely offset by cash payments received or due in advance of satisfying our performance obligations.

The increase in contract assets of $8.7 million was primarily due to new contract assets recognized, net of new amounts reclassified to receivables during 2024, partially offset by $19.2 million of contract assets included in the balance at January 1, 2024 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 $163.6 million and $161.7 million as of June 30, 2024 and December 31, 2023, respectively.

The amortization of commission assets was $12.5 million and $24.6 million for the three and six months ended June 30, 2024, respectively, and $10.8 million and $21.1 million for the three and six months ended June 30, 2023, respectively.