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ORGANIZATION AND BASIS OF PRESENTATION ORGANIZATION AND BASIS OF PRESENTATION (Tables)
 6 Months Ended
Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Impact of Topic 606 on Financial Statements
The following table summarizes the impact of adopting Topic 606 on the Company’s condensed consolidated balance sheet as of June 30, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Accounts receivable, net
 
$
45,426

 
$
642

 
$
46,068

Total current assets
 
243,189

 
642

 
243,831

Total assets
 
809,896

 
642

 
810,538

 
 
 
 
 
 
 
Other current liabilities
 
5,889

 
(217
)
 
5,672

Deferred revenue
 
19,131

 
(9,100
)
 
10,031

Total current liabilities
 
133,866

 
(9,317
)
 
124,549

 
 
 
 
 
 
 
Deferred revenue, non-current
 
41

 
1,160

 
1,201

 
 
 
 
 
 
 
Retained earnings
 
596,268

 
8,799

 
605,067

Altisource equity
 
310,887

 
8,799

 
319,686

Total equity
 
312,291

 
8,799

 
321,090

Total liabilities and equity
 
809,896

 
642

 
810,538

The following table summarizes the impact of adopting Topic 606 on the Company’s condensed consolidated statement of operations and comprehensive income for the three months ended June 30, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Revenue
 
$
218,556

 
$
(1,203
)
 
$
217,353

Cost of revenue
 
163,206

 
662

 
163,868

Gross profit
 
55,350

 
(1,865
)
 
53,485

Income from operations
 
12,426

 
(1,865
)
 
10,561

Income before income taxes and non-controlling interests
 
3,071

 
(1,865
)
 
1,206

Income tax provision
 
(816
)
 
544

 
(272
)
Net income
 
2,255

 
(1,321
)
 
934

Net income attributable to Altisource
 
1,568

 
(1,321
)
 
247

The following table summarizes the impact of adopting Topic 606 on the Company’s condensed consolidated statement of operations and comprehensive income for the six months ended June 30, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Revenue
 
$
415,994

 
$
(791
)
 
$
415,203

Cost of revenue
 
310,400

 
1,459

 
311,859

Gross profit
 
105,594

 
(2,250
)
 
103,344

Income from operations
 
19,546

 
(2,250
)
 
17,296

Loss before income taxes and non-controlling interests
 
(1,901
)
 
(2,250
)
 
(4,151
)
Income tax benefit
 
549

 
650

 
1,199

Net loss
 
(1,352
)
 
(1,600
)
 
(2,952
)
Net loss attributable to Altisource
 
(2,564
)
 
(1,600
)
 
(4,164
)