NOTE 13 — COST OF REVENUE

Cost of revenue principally includes payroll and employee benefits associated with personnel employed in customer service and operations roles, fees paid to external providers related to the provision of services, reimbursable expenses, technology and telecommunications expenses as well as depreciation and amortization of operating assets. The components of cost of revenue were as follows:

	Three months ended				Six months ended
	June 30,				June 30,
(in thousands)	2013		2012		2013		2012

Compensation and benefits	$	36,744	$	27,989	$	69,323	$	55,474
Outside fees and services	46,345		31,757		81,240		60,410
Reimbursable expenses	23,299		24,814		43,565		53,520
Technology and telecommunications	7,060		5,866		12,551		10,990
Depreciation and amortization	3,524		2,312		7,255		4,104

Total	$	116,972	$	92,738	$	213,934	$	184,498