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, cost of real estate sold, reimbursable expenses, technology and telecommunications costs as well as depreciation and amortization of operating assets. The components of cost of revenue were as follows for the years ended December 31:



(in thousands)	2017		2016		2015

Compensation and benefits	$	240,487	$	264,796	$	261,839
Outside fees and services	325,459		301,116		248,278
Cost of real estate sold	24,398		1,040		—
Reimbursable expenses	39,912		52,011		107,344
Technology and telecommunications	42,340		44,295		43,177
Depreciation and amortization	27,269		26,787		26,689

Total	$	699,865	$	690,045	$	687,327