Non-Insurance Revenues from Contracts with Customers

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Non-Insurance Revenues from Contracts with Customers

Non-Insurance Revenues from Contracts with Customers

The Company reported $4.0 billion of Deferred non-insurance warranty revenue as of September 30, 2020 and $3.8 billion as of December 31, 2019. For the three and nine months ended September 30, 2020, the Company recognized $262 million and $826 million of revenues that were included in the deferred revenue balance as of January 1, 2020. For the three and nine months ended September 30, 2019, the Company recognized $236 million and $747 million of revenues that were included in the deferred revenue balance as of January 1, 2019. For the three and nine months ended September 30, 2020 and 2019, Non-insurance warranty revenue recognized from performance obligations related to prior periods due to a change in estimate was not material. The Company expects to recognize approximately $0.3 billion of the deferred revenue in the remainder of 2020, $1.1 billion in 2021, $0.9 billion in 2022 and $1.7 billion thereafter.