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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of accumulated other comprehensive loss
The components of accumulated other comprehensive loss were as follows (in thousands):

 
As of December 31,
 
2018
 
2017
Foreign currency translation adjustment
$
(10,958
)
 
$
(8,290
)
Net unrealized loss on investments, net of tax
(730
)
 
(730
)
Total accumulated other comprehensive loss
$
(11,688
)
 
$
(9,020
)
Stock-based compensation expense for stock options and restricted stock
Stock-based compensation expense for stock options and restricted stock awards issued under equity incentive plans and stock purchases under the Employee Stock Purchase Plan ("ESPP") included in the Company’s results of operations were as follows (in thousands):
 
Year Ended December 31,
 
2018
 
2017
 
2016
Cost of revenues (1)
                                                                                            
$
7,688

 
$
4,971

 
$
5,495

Selling and marketing (excluding customer base amortization)
6,881

 
7,086

 
6,634

Software development                                                                                              
7,454

 
7,071

 
6,546

General and administrative                                                                                              
20,695

 
19,902

 
17,674

Total stock-based compensation
$
42,718

 
$
39,030

 
$
36,349

__________________________
 
 
 
 
 
(1) Includes $1.5 million of expense related to the cash settlement of stock options in connection with the acquisition of Cozy Services, Ltd. See Note 4 for details of the acquisition.
Schedule of property and equipment
Depreciation and amortization are calculated on a straight-line basis over the following estimated useful lives of the assets:

Leasehold improvements
 
Shorter of lease term or useful life
Furniture and office equipment
 
Five to ten years
Vehicles
 
Five to ten years
Computer hardware and software
 
Three to five years
Property and equipment consists of the following (in thousands):
 
 
December 31,
 
2018
 
2017
Leasehold improvements
$
65,332

 
$
59,447

Furniture, office equipment and vehicles
53,020

 
52,163

Computer hardware and software
74,742

 
71,281

Property and equipment, gross
193,094

 
182,891

Accumulated depreciation and amortization
(109,791
)
 
(98,395
)
Property and equipment, net
$
83,303

 
$
84,496
Schedule of new accounting pronouncements and changes in accounting principles
elect condensed consolidated balance sheet line items which were adjusted upon adoption were as follows (in thousands):
 
As of
December 31, 2017
 
ASC 606 Adjustments
 
As of
January 1, 2018
Assets
 
 
 
 
 
Accounts receivable, less allowance for doubtful accounts
$
60,900

 
$
(1,867
)
 
$
59,033

Prepaid expenses and other current assets
15,572

 
1,867

 
17,439

Deferred commissions costs, net
—

 
71,118

 
71,118

Liabilities
 
 
 
 
 
Deferred revenue
$
45,686

 
$
(1,716
)
 
$
43,970

Deferred income taxes, net
12,070

 
18,370

 
30,440

Retained earnings
320,656

 
54,464

 
375,120


The impact of the adoption of ASC 606 on the condensed financial statements for the period ended December 31, 2018 was as follows (in thousands):
 
As of
December 31, 2018
without adoption of ASC 606
 
ASC 606 Adjustments
 
As Reported as of
December 31, 2018
Assets
 
 
 
 
 
Accounts receivable, less allowance for doubtful accounts
$
91,122

 
$
(1,930
)
 
$
89,192

Prepaid expenses and other current assets
21,760

 
1,930

 
23,690

Deferred commissions costs, net
—

 
76,031

 
76,031

Liabilities
 
 
 
 
 
Deferred revenue
$
57,284

 
$
(5,825
)
 
$
51,459

Deferred income taxes, net
49,147

 
20,710

 
69,857

Retained earnings
552,308

 
61,146

 
613,454