Revenues

3 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenues

NOTE 2. REVENUES

The following tables present the Company’s disaggregated revenues by type and segment for the three months ended September 30, 2020 and 2019:

	For the three months ended September 30, 2020
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	8	$	437	$	311	$	—	$	246	$	1,002
Advertising	28		50		70		—		184		332
Consumer	—		—		—		441		—		441
Real estate	235		—		—		—		—		235
Other	19		9		5		17		57		107
Total Revenues	$	290	$	496	$	386	$	458	$	487	$	2,117

	For the three months ended September 30, 2019
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	10	$	451	$	289	$	—	$	245	$	995
Advertising	27		51		84		—		446		608
Consumer	—		—		—		387		—		387
Real estate	218		—		—		—		—		218
Other	17		12		9		18		76		132
Total Revenues	$	272	$	514	$	382	$	405	$	767	$	2,340

Contract liabilities and assets

The Company’s deferred revenue balance primarily relates to amounts received from customers for subscriptions paid in advance of the services being provided. The following table presents changes in the deferred revenue balance for the three months ended September 30, 2020 and 2019:

	For the three months ended September 30,
	2020		2019
	(in millions)
Balance, beginning of period	$	398	$	428
Deferral of revenue	707		821
Recognition of deferred revenue(a)	(701)		(794)
Other	5		(7)
Balance, end of period	$	409	$	448

(a)For the three months ended September 30, 2020 and 2019, the Company recognized $257 million and $266 million, respectively, of revenue which was included in the opening deferred revenue balance.

Contract assets were immaterial for disclosure as of September 30, 2020 and 2019.

Other revenue disclosures

The Company typically expenses sales commissions incurred to obtain a customer contract as those amounts are incurred as the amortization period is 12 months or less. These costs are recorded within Selling, general and administrative in the Statements of Operations. The Company also does not capitalize significant financing components when the transfer of the good or service is paid within 12 months or less, or the receipt of consideration is received within 12 months or less of the transfer of the good or service.

For the three months ended September 30, 2020, the Company recognized approximately $97 million in revenues related to performance obligations that were satisfied or partially satisfied in a prior reporting period. The remaining transaction price related to unsatisfied performance obligations as of September 30, 2020 was approximately $458 million, of which approximately $175 million is expected to be recognized over the remainder of fiscal 2021, approximately $119 million is expected to be recognized in fiscal 2022 and approximately $45 million is expected to be recognized in fiscal 2023, with the remainder to be recognized thereafter. These amounts do not include (i) contracts with an expected duration of one year or less, (ii) contracts for which variable consideration is determined based on the customer’s subsequent sale or usage and (iii) variable consideration allocated to performance obligations accounted for under the series guidance that meets the allocation objective under ASC 606, “Revenue From Contracts With Customers”.