RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET

RIGHT-OF-USE ASSETS UNDER OPERATING LEASES, NET

Right-of-use assets under operating leases consist of the following as of December 31:

(in thousands)	2019			2018
Right-of-use assets under operating leases	$	39,729		$	—
Less: Accumulated amortization	(10,655		)	—
Total	$	29,074		$	—

The Company adopted Topic 842 effective January 1, 2019, which resulted in the recognition of $42.1 million of right-of-use assets upon adoption for operating leases, primarily for office space (see Note 2). Amortization of operating leases was $11.8 million for the year ended December 31, 2019 (no comparative amounts for the years ended December 31, 2018 and 2017), and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the consolidated statements of operations and comprehensive income (loss).