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TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS: (Notes)
 9 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Topic 606 Adoption Impact and Revenue from Contracts with Customers TOPIC 606 ADOPTION IMPACT AND REVENUE FROM CONTRACTS WITH CUSTOMERS:
On April 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of April 1, 2018. Results for reporting periods beginning after April 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic reporting under Topic 605.

Under Topic 606, revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company determines revenue recognition through the following steps:

•Identification of the contract, or contracts, with a customer
•Identification of the performance obligations in the contract
•Determination of the transaction price
•Allocation of the transaction price to the performance obligations in the contract
•Recognition of revenue when, or as, the Company satisfies a performance obligation
We recorded a net increase to our opening retained earnings of $12.7 million, net of tax, due to the cumulative impact of adopting Topic 606, with the impact primarily related to the capitalization of costs of obtaining customer contracts.

The details of the significant changes and quantitative impact of the changes are disclosed below.

Costs of Obtaining Customer Contracts
The Company previously recognized commission payments made for obtaining a contract as an operating expense when incurred. Under Topic 606, the Company capitalizes incremental costs to acquire contracts and amortizes them over the expected period of benefit, which we have determined to be four years. As of December 31, 2018, the remaining unamortized contract costs were $9.5 million and are included in deferred commissions, net, in the condensed consolidated balance sheet. Net capitalized costs of $3.0 million were recorded as a reduction to operating expense for the nine months ended December 31, 2018. No impairment was recognized for the nine months ended December 31, 2018.

Impacts on Financial Statements
Condensed Consolidated Balance Sheet Impact of changes in accounting policies 
As reported December 31, 2018 Adjustments Balances without adoption of Topic 606 
Deferred income taxes 149 2,256 2,405 
Deferred commissions, net 9,478 (9,478)— 
Others 1,917,891 — 1,917,891 
Total assets $1,927,518 $(7,222)$1,920,296 
Total liabilities 567,902 — 567,902 
Retained earnings 1,715,066 (7,222)1,707,844 
Other equity (355,450)— (355,450)
Total equity 1,359,616 (7,222)1,352,394 
Total liabilities and equity $1,927,518 $(7,222)$1,920,296 


Condensed Consolidated Statement of Operations Impact of changes in accounting policies 
As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 
Revenues $207,304 $— $207,304 
Cost of revenue 82,958 — 82,958 
Gross profit $124,346 $— $124,346 
Operating expenses: 
Sales and marketing $109,317 $3,035 $112,352 
Other operating expenses 131,041 — 131,041 
Total operating expenses 240,358 3,035 243,393 
Loss from operations (116,012)(3,035)(119,047)
Total other income 10,479 — 10,479 
Loss from continuing operations before income taxes (105,533)(3,035)(108,568)
Income taxes (benefit) (21,274)(722)(21,996)
Net loss from continuing operations $(84,259)$(2,313)$(86,572)
Condensed Consolidated Statement of Comprehensive Income Impact of changes in accounting policies 
As reported for the nine months ended December 31, 2018 Adjustments Balances without adoption of Topic 606 
Net earnings $1,074,008 $(2,313)$1,071,695 
Other comprehensive loss: 
Change in foreign currency translation adjustment (2,876)— (2,876)
Comprehensive income $1,071,132 $(2,313)$1,068,819 


Condensed Consolidated Statement of Cash Flows Impact of changes in accounting policies 
As reported for the nine months ended December 31, 2018Adjustments Balances without adoption of Topic 606 
Net earnings$1,074,008 $(2,313)$1,071,695 
Earnings from discontinued operations(1,158,267)— (1,158,267)
Adjustments for:
Deferred income taxes20,723 (722)20,001 
Others91,425 — 91,425 
Changes in:
Accounts receivable, net(35,011)— (35,011)
Deferred commissions(3,035)3,035 — 
Other assets654 — 654 
Accounts payable and other liabilities(29,274)— (29,274)
Deferred revenue(1,555)— (1,555)
Net cash from operating activities(40,332)— (40,332)
Net cash from investing activities(7,795)— (7,795)
Net cash from financing activities(820,644)— (820,644)
Net cash from discontinued operations2,277,338 — 2,277,338 
Effect of exchange rate changes on cash(1,811)— (1,811)
Net change in cash and cash equivalents1,406,756 — 1,406,756 
Cash and cash equivalents at beginning of period140,018 — 140,018 
Cash and cash equivalents at end of period$1,546,774 $— $1,546,774 

Disaggregation of Revenue
In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands).
For the nine months ended
December 31,
Primary Geographical Markets20182017
United States $189,997 $143,937 
Europe 13,858 12,916 
APAC 3,449 3,038 
$207,304 $159,891 
Major Offerings/Services 
Subscription 171,184 125,157 
Marketplace and Other 36,120 34,734 
$207,304 $159,891 

Transaction Price Allocated to the Remaining Performance Obligations
We have performance obligations associated with fixed commitments in customer contracts for future services that have not yet been recognized in our condensed consolidated financial statements. The amount of fixed revenue not yet recognized was $335.1 million as of December 31, 2018. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2021 with the balance recognized thereafter.