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REVENUE FROM CONTRACTS WITH CUSTOMERS
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
Disaggregated Revenue
The Company provides information, analytics and online marketplaces to the commercial real estate industry, hospitality industry, residential industry and related professionals. Revenues by operating segment and type of service consist of the following (in thousands):
Three Months Ended June 30,
20232022
North AmericaInternationalTotalNorth AmericaInternationalTotal
CoStar$219,573 $9,596 $229,169 $197,380 $9,186 $206,566 
Information Services32,213 9,708 41,921 30,511 7,991 38,502 
Multifamily224,291 — 224,291 182,359 — 182,359 
LoopNet63,268 2,295 65,563 54,603 1,694 56,297 
Residential12,708 — 12,708 20,154 — 20,154 
Other Marketplaces32,254 — 32,254 32,430 — 32,430 
Total revenues$584,307 $21,599 $605,906 $517,437 $18,871 $536,308 

Six Months Ended June 30,
20232022
North AmericaInternationalTotalNorth AmericaInternationalTotal
CoStar$435,386 $18,796 $454,182 $386,484 $18,731 $405,215 
Information Services64,313 19,237 83,550 60,782 14,935 75,717 
Multifamily434,988 — 434,988 357,836 — 357,836 
LoopNet124,447 4,353 128,800 107,291 3,453 110,744 
Residential25,861 — 25,861 38,214 — 38,214 
Other Marketplaces62,891 — 62,891 64,407 — 64,407 
Total revenues$1,147,886 $42,386 $1,190,272 $1,015,014 $37,119 $1,052,133 
Deferred Revenue
Deferred revenue as of June 30, 2023 and December 31, 2022 were as follows (in thousands):
BalanceBalance Sheet CaptionJune 30,
2023		December 31,
2022
Current portionDeferred revenue$113,231 $103,567 
Non-current portionLease and other long-term liabilities227 215 
Total deferred revenue$113,458 $103,782 
Changes in deferred revenue for the period were as follows (in thousands):
Balance at December 31, 2022
$103,782 
Revenues recognized in the current period from the amounts in the beginning balance(82,503)
New deferrals, net of amounts recognized in the current period91,376 
Effects of foreign currency803 
Balance at June 30, 2023
$113,458 
Contract Assets
Contract assets are generated when contractual billing schedules differ from revenue recognition timing and represent a conditional right to consideration for satisfied performance obligations that becomes a receivable when the conditions are satisfied. Contract assets as of June 30, 2023 and December 31, 2022 were as follows (in thousands):
BalanceBalance Sheet CaptionJune 30,
2023		December 31,
2022
Current portionPrepaid expenses and other current assets$4,786 $3,953 
Non-current portionDeposits and other assets8,541 8,464 
Total contract assets$13,327 $12,417 
Revenues recognized from contract assets for the three and six months ended June 30, 2023 were $0.4 million and $0.9 million, respectively. Revenues recognized from contract assets for the three and six months ended June 30, 2022 were negligible.
Unsatisfied Performance Obligations
Remaining contract consideration for which revenue has not been recognized due to unsatisfied performance obligations was approximately $406 million at June 30, 2023, which the Company expects to recognize over the next five years. This amount does not include contract consideration for contracts with a duration of one year or less.
Commissions
Commissions expense is included in selling and marketing expense in the Company's condensed consolidated statements of operations. Commissions expense activity for the three and six months ended June 30, 2023 and 2022 was as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Commissions incurred$46,718 $38,423 $92,331 $75,238 
Commissions capitalized in the current period(32,747)(28,326)(65,028)(54,155)
Amortization of deferred commissions costs23,378 18,413 45,267 35,996 
Total commissions expense$37,349 $28,510 $72,570 $57,079 
The Company determined that no deferred commissions were impaired as of June 30, 2023 and 2022.