(4) Revenue from Contracts with Customers

Revenue from contracts with customers was $502.8 million for the year ended December 31, 2018. The majority of the Company’s revenues fall under the scope of ASC 606, with the exception of investment and dividend income, gains and losses on temporary securities positions assumed and other miscellaneous income, all of which are presented within the other revenue line item on the Consolidated Statements of Operations. The tables within Note 24, Segment Reporting, provide revenue disaggregated by reportable geographic operating segment and by product group.

The net impacts to the Consolidated Statements of Operations of adopting ASC 606 for the year ended December 31, 2018 were as follows (dollars in thousands):



	Year Ended December 31,
	2018
Net change in commissions and fees	$	274
Net change in recurring revenues		409
Net change in total revenues	$	683

At December 31, 2018, the Consolidated Statements of Financial Condition include an increase to receivables from customers of $1.1 million related to the acceleration of license fees and an increase to accounts payable and accrued expenses of $0.6 million related to the deferral of commissions in bundled commission arrangements.

For more information regarding the Company’s revenue recognition policy, including detailed information on material performance obligations and how revenue is recognized, refer to Note 2, Summary of Significant Accounting Policies.

Remaining Performance Obligations and Revenue Recognized from Past Performance Obligations

The Company elected not to disclose information about remaining performance obligations pertaining to (i) contracts with an original expected length of one year or less or (ii) contracts with variable consideration that cannot be estimated, as permitted under the guidance.

The Company’s remaining unsatisfied performance obligations that do not meet the criteria above primarily relate to analytics products and services that have fixed subscription fees. As of December 31, 2018, the future revenue the Company expects to recognize for these performance obligations is not material.

For the year ended December 31, 2018, the Company did not recognize any revenue related to performance obligations satisfied in prior years.

Contract Balances

The timing of the Company’s revenue recognition may differ from the timing of payment by customers. The Company records a receivable when revenue is recognized prior to payment and has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied.

Receivables related to contracts with customers were $42.1 million and $38.2 million as of December 31, 2018 and December 31, 2017, respectively. The Company did not identify any contract assets. There were no impairment losses on receivables as of December 31, 2018.

Deferred revenue primarily relates to deferred commissions allocated to analytics products and subscription fees billed in advance of satisfying the performance obligations. Deferred revenue related to contracts with customers was $8.1 million and $6.9 million as of December 31, 2018 and 2017, respectively. During the year ended December 31, 2018, the Company recognized revenue of $1.4 million that was initially recorded as deferred revenue.

The Company has not identified any costs to obtain or fulfill associated with its contracts under ASC 606.