REVENUE RECOGNITION AND CONTRACT WITH CUSTOMERS

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION AND CONTRACT WITH CUSTOMERS

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

Adoption

On January 1, 2018, the Company adopted new guidance on revenue from contracts with customers using the modified retrospective method applied to contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported in accordance with previous guidance.

We recorded a net decrease to opening accumulated deficit of $2.47 million as of January 1, 2018, for the cumulative impact of adopting the new guidance. The impact primarily related to the change in accounting for disposal contracts, resulting in the recognition of $2.47 million of deferred revenue.

	Balance at December 31,  2017			New Revenue Standard Adjustment			Balance at January 1, 2018
Liabilities
Deferred revenue	$	2,474		$	(2,474	)	$	—
Equity
Accumulated deficit	$	(309,287	)	$	2,474		$	(306,813	)

Under the modified retrospective method of adoption, we are required to disclose the impact to revenues had we continued to follow our accounting policies under the previous revenue recognition guidance. We estimate that there would be no impact to revenues for the quarter ended March 31, 2018 as we did not receive any disposal material which would have been classified as deferred revenue in the period.

Refer to Recently Adopted Accounting Pronouncements in Management's Discussion and Analysis section for a summary of our significant policies for revenue recognition.