NOTE 14 — 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)	2014		2013		2014		2013

Compensation and benefits	$	63,121	$	36,744	$	115,771	$	69,323
Outside fees and services	71,365		46,345		124,193		81,240
Reimbursable expenses	32,276		23,299		61,071		43,565
Technology and telecommunications	11,849		7,060		20,690		12,551
Depreciation and amortization	5,388		3,524		10,079		7,255

Total	$	183,999	$	116,972	$	331,804	$	213,934