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ORGANIZATION AND BASIS OF PRESENTATION ORGANIZATION AND BASIS OF PRESENTATION (Tables)
 9 Months Ended
Sep. 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 September 30, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Accounts receivable, net
 
$
46,929

 
$
789

 
$
47,718

Total current assets
 
276,378

 
789

 
277,167

Total assets
 
829,265

 
789

 
830,054

 
 
 
 
 
 
 
Other current liabilities
 
7,912

 
(2,303
)
 
5,609

Deferred revenue
 
12,955

 
(4,048
)
 
8,907

Total current liabilities
 
151,714

 
(6,351
)
 
145,363

 
 
 
 
 
 
 
Other non-current liabilities
 
7,866

 
686

 
8,552

 
 
 
 
 
 
 
Retained earnings
 
603,343

 
6,454

 
609,797

Altisource equity
 
321,614

 
6,454

 
328,068

Total equity
 
323,141

 
6,454

 
329,595

Total liabilities and equity
 
829,265

 
789

 
830,054

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 September 30, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Revenue
 
$
204,575

 
$
(3,966
)
 
$
200,609

Cost of revenue
 
147,580

 
392

 
147,972

Gross profit
 
56,995

 
(4,358
)
 
52,637

Income from operations
 
20,918

 
(4,358
)
 
16,560

Income before income taxes and non-controlling interests
 
16,129

 
(4,358
)
 
11,771

Income tax provision
 
(6,608
)
 
2,164

 
(4,444
)
Net income
 
9,521

 
(2,194
)
 
7,327

Net income attributable to Altisource
 
8,667

 
(2,194
)
 
6,473

The following table summarizes the impact of adopting Topic 606 on the Company’s condensed consolidated statement of operations and comprehensive income for the nine months ended September 30, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Revenue
 
$
620,569

 
$
(4,757
)
 
$
615,812

Cost of revenue
 
457,980

 
1,851

 
459,831

Gross profit
 
162,589

 
(6,608
)
 
155,981

Income from operations
 
40,464

 
(6,608
)
 
33,856

Income before income taxes and non-controlling interests
 
14,228

 
(6,608
)
 
7,620

Income tax provision
 
(6,059
)
 
2,814

 
(3,245
)
Net income
 
8,169

 
(3,794
)
 
4,375

Net income attributable to Altisource
 
6,103

 
(3,794
)
 
2,309