Quarterly report pursuant to Section 13 or 15(d)

REVENUE

v3.23.2
REVENUE
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Revenue, classified by the major geographic areas in which our customers are located, was as follows:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(in thousands) 2023 2022 2023 2022
United States $ 763,646  $ 661,703  $ 1,372,654  $ 1,208,163 
Other countries 57,104  52,346  106,111  96,566 
Total Revenues $ 820,750  $ 714,049  $ 1,478,765  $ 1,304,729 
Revenue from external customers, classified by significant product and service offerings, was as follows:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(in thousands) 2023 2022 2023 2022
Residential revenue $ 385,645  $ 325,311  $ 669,270  $ 584,570 
Commercial revenue 259,964  234,483  490,366  440,270 
Termite completions, bait monitoring, & renewals 166,823  146,781  303,428  266,487 
Franchise revenues 4,303  4,155  8,090  7,892 
Other revenues 4,015  3,319  7,611  5,510 
Total Revenues $ 820,750  $ 714,049  $ 1,478,765  $ 1,304,729 
Sales and usage-based taxes are excluded from revenues. No sales to an individual customer or in a country other than the United States accounted for 10% or more of the sales for the periods listed in the above table.
The Company records unearned revenue when we have either received payment or contractually have the right to bill for services in advance of the services or performance obligations being performed. Unearned revenue recognized in the three and six months ended June 30, 2023, and 2022 was $57.8 million and $51.0 million, respectively and $113.3 million and $100.9 million, respectively. Changes in unearned revenue were as follows:
Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2023 2022 2023 2022
Beginning balance $ 198,154  $ 180,333  $ 187,994  $ 168,607 
Deferral of unearned revenue 77,911  63,628  143,537  125,263 
Recognition of unearned revenue (57,791) (50,989) (113,257) (100,898)
Ending balance $ 218,274  $ 192,972  $ 218,274  $ 192,972 
As of June 30, 2023, and December 31, 2022, the Company had long-term unearned revenue of $35.0 million and $29.9 million, respectively, recorded in other long-term accrued liabilities. Unearned short-term revenue is recognized over the next 12-month period. The majority of unearned long-term revenue is recognized over a period of five years or less with immaterial amounts recognized through 2033.