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REVENUE
 12 Months Ended
Dec. 31, 2020
Revenues [Abstract]  
REVENUE REVENUE
We classify revenue in three categories: service revenue, revenue from reimbursable expenses and non-controlling interests. Service revenue consists of amounts attributable to our fee-based services and sales of short-term investments in real estate. Reimbursable expenses and non-controlling interests are pass-through items for which we earn no margin. Reimbursable expenses consist of amounts we incur on behalf of our customers in performing our fee-based services that we pass directly on to our customers without a markup. Non-controlling interests represent the earnings of Lenders One, a consolidated entity that is a mortgage cooperative managed, but not owned, by Altisource. The Lenders One members’ earnings are included in revenue and reduced from net income to arrive at net income attributable to Altisource (see Note 2). Our services are provided to customers located in the United States. The components of revenue were as follows for the years ended December 31:
(in thousands)202020192018
Service revenue$347,313 $621,866 $805,480 
Reimbursable expenses16,285 24,172 30,039 
Non-controlling interests1,949 2,613 2,683 
Total$365,547 $648,651 $838,202 
The Company adopted ASU No. 2014-09, Revenue from Contracts from Customers (Topic 606), and related interpretations (“Topic 606”), effective January 1, 2018 retrospectively with the cumulative effect recognized on the date of initial application (the modified retrospective approach) for all contracts. As a result of this adoption, the Company recognized an $11.2 million increase in deferred revenue, a $1.1 million increase in unbilled accounts receivable, a $0.3 million increase in other current liabilities and a $10.4 million decrease in retained earnings as of January 1, 2018.
Disaggregation of Revenue
Disaggregation of total revenues by major source is as follows:
(in thousands)Revenue recognized when services are performed or assets are soldRevenue related to technology platforms and professional servicesReimbursable expenses revenueTotal revenue
For the year ended December 31, 2020$332,084 $17,178 $16,285 $365,547 
For the year ended December 31, 2019579,929 44,550 24,172 648,651 
For the year ended December 31, 2018719,739 88,424 30,039 838,202 
Contract Balances
Our contract assets consist of unbilled accounts receivable (see Note 6). Our contract liabilities consist of current deferred revenue and other non-current liabilities as reported on the accompanying consolidated balance sheets. Revenue recognized that was included in the contract liability at the beginning of the period was $4.8 million, $9.8 million and $20.6 million for the years ended December 31, 2020, 2019 and 2018, respectively.