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:



	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2019		2018		2019		2018

Compensation and benefits	$	30,463	$	49,707	$	108,637	$	159,342
Outside fees and services	61,314		73,096		182,483		207,073
Cost of real estate sold	393		1,092		42,763		17,591
Technology and telecommunications	10,298		10,230		27,124		30,533
Reimbursable expenses	7,213		6,815		16,484		23,970
Depreciation and amortization	1,225		6,640		10,160		19,471

Total	$	110,906	$	147,580	$	387,651	$	457,980

During the third quarter of 2019, we reclassified certain lease items recorded in the first half of the year. This resulted in a $1.6 million increase in technology and telecommunications expense and a $1.5 million decrease in depreciation and amortization expense for the third quarter of 2019.