Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2024

In the following tables, revenue is disaggregated by major lines of goods and services and timing of transfer of goods and services. The tables also include a reconciliation of the disaggregated revenue to reportable segment revenue.


	Three Months Ended March 31, 2024
	Domestic		Import		Premium Luxury		Corporate and other(1)		Total
Major Goods/Service Lines
New vehicle	$	814.4	$	1,006.8	$	1,158.1	$	—	$	2,979.3
Used vehicle	543.0		557.2		736.2		159.7		1,996.1
Parts and service	302.1		294.7		417.2		158.4		1,172.4
Finance and insurance, net	97.0		119.2		103.3		15.2		334.7
Other	0.2		1.6		0.1		1.3		3.2
	$	1,756.7	$	1,979.5	$	2,414.9	$	334.6	$	6,485.7

Timing of Revenue Recognition
Goods and services transferred at a point in time	$	1,538.3	$	1,748.3	$	2,057.9	$	229.1	$	5,573.6
Goods and services transferred over time(2)	218.4		231.2		357.0		105.5		912.1
	$	1,756.7	$	1,979.5	$	2,414.9	$	334.6	$	6,485.7


	Three Months Ended March 31, 2023
	Domestic		Import		Premium Luxury		Corporate and other(1)		Total
Major Goods/Service Lines
New vehicle	$	828.0	$	856.4	$	1,247.5	$	—	$	2,931.9
Used vehicle	612.3		542.1		745.8		132.4		2,032.6
Parts and service	287.6		268.4		386.2		147.6		1,089.8
Finance and insurance, net	102.3		112.4		105.0		12.7		332.4
Other	0.9		10.0		0.4		0.7		12.0
	$	1,831.1	$	1,789.3	$	2,484.9	$	293.4	$	6,398.7

Timing of Revenue Recognition
Goods and services transferred at a point in time	$	1,629.3	$	1,586.9	$	2,159.3	$	194.8	$	5,570.3
Goods and services transferred over time(2)	201.8		202.4		325.6		98.6		828.4
	$	1,831.1	$	1,789.3	$	2,484.9	$	293.4	$	6,398.7

(1) “Corporate and other” is comprised of our non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and AutoNation Mobile Service.

(2) Represents revenue recognized during the period for automotive repair and maintenance services.

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table includes estimated revenue expected to be recognized in the future related to VCP performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period:


	Revenue Expected to Be Recognized by Period
	Total		Next 12 Months		13 - 36 Months		37 - 60 Months
Revenue expected to be recognized on VCP contracts sold as of period end	$	108.5	$	37.2	$	53.0	$	18.3

Receivables from Contracts with Customers, Contract Assets, and Contract Liabilities

The following table provides the balances of our receivables from contracts with customers and our current and long-term contract assets and contract liabilities:


	March 31, 2024		December 31, 2023
Receivables from contracts with customers, net	$	642.9	$	762.0
Contract Asset (Current)	$	22.2	$	23.1
Contract Asset (Long-Term)	$	3.3	$	3.2
Contract Liability (Current)	$	42.3	$	42.5
Contract Liability (Long-Term)	$	71.3	$	70.6

The change in the balances of our contract assets and contract liabilities primarily result from the timing differences between our performance and the customer’s payment, as well as changes in the estimated transaction price related to variable consideration for performance obligations satisfied in previous periods. The following table presents revenue recognized during the period from amounts included in the contract liability balance at the beginning of the period and adjustments to revenue related to performance obligations satisfied in previous periods:


	Three Months Ended March 31,
	2024		2023
Amounts included in contract liability at the beginning of the period	$	9.8	$	9.4
Performance obligations satisfied in previous periods	$	0.3	$	(2.3)

Other significant changes include contract assets reclassified to receivables of $16.9 million for the three months ended March 31, 2024, and $25.7 million for the three months ended March 31, 2023.