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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of estimated useful lives using the straight-line method
We report premises and equipment, net at cost or estimated fair value at acquisition for premises and equipment recorded in connection with a business combination and depreciate these assets over their estimated useful lives using the straight-line method as follows:
Furniture and fixtures
5 years
Office equipment
5 years
Computer hardware
5 years
Computer software
3-7 years
Leasehold improvements
Shorter of useful life, 10 years or the term of the lease
Schedule of impact of adopting Topic 606 on financial statements
The following table summarizes the impact of adopting Topic 606 on the Company’s consolidated balance sheet as of December 31, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Accounts receivable, net
 
$
36,466

 
$
(455
)
 
$
36,011

Total current assets
 
201,534

 
(455
)
 
201,079

Total assets
 
741,700

 
(455
)
 
741,245

 
 
 
 
 
 
 
Deferred revenue
 
10,108

 
(1,511
)
 
8,597

Other current liabilities
 
7,030

 
(3,490
)
 
3,540

Total current liabilities
 
104,378

 
(5,001
)
 
99,377

 
 
 
 
 
 
 
Other non-current liabilities
 
9,178

 
269

 
9,446

 
 
 
 
 
 
 
Retained earnings
 
590,655

 
4,277

 
594,932

Altisource equity
 
295,431

 
4,277

 
299,708

Total equity
 
296,668

 
4,277

 
300,945

Total liabilities and equity
 
741,700

 
(455
)
 
741,245

The following table summarizes the impact of adopting Topic 606 on the Company’s consolidated statement of operations and comprehensive income (loss) for the year ended December 31, 2018:
 
 
Impact of the adoption of Topic 606
(in thousands)
 
As reported
 
Adjustments
 
Balances without adoption of Topic 606
 
 
 
 
 
 
 
Revenue
 
$
838,202

 
$
(6,692
)
 
$
831,510

Cost of revenue
 
622,165

 
2,116

 
624,281

Gross profit
 
216,037

 
(8,808
)
 
207,229

Income from operations
 
42,495

 
(8,808
)
 
33,687

Income (loss) before income taxes and non-controlling interests
 
1,399

 
(8,808
)
 
(7,409
)
Income tax (provision) benefit
 
(4,098
)
 
2,637

 
(1,461
)
Net loss
 
(2,699
)
 
(6,171
)
 
(8,870
)
Net loss attributable to Altisource
 
(5,382
)
 
(6,171
)
 
(11,553
)