REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Deferred Revenue, by Arrangement, Disclosure

The following table summarizes the activity in the liability for customer credits for the years ended December 31, 2019 and 2018 (in thousands):

	Customer Credits
Balance as of January 1, 2018	$	19,414
Credits issued	126,874
Credits redeemed (1)	(112,161		)
Breakage revenue recognized	(18,802		)
Foreign currency translation	(207		)
Balance as of December 31, 2018	15,118
Credits issued	115,031
Credits redeemed (1)	(102,682		)
Breakage revenue recognized	(13,699		)
Foreign currency translation	(4		)
Balance as of December 31, 2019	$	13,764

(1) Customer credits can be redeemed through our online marketplaces for goods or services provided by a third-party merchant or for merchandise inventory sold by us. When customer credits are redeemed for goods or services provided by a third-party merchant, service revenue is recognized on a net basis as the difference between the carrying amount of the customer credit liability derecognized and the amount due to the merchant for the related transaction. When customer credits are redeemed for merchandise inventory sold by us, product revenue is recognized on a gross basis equal to the amount of the customer credit liability derecognized. Customer credits are primarily used within one year of issuance.

Cost of Obtaining Contracts

Deferred contract acquisition costs are presented within the following line items of the consolidated balance sheets as of December 31, 2019 and 2018 (in thousands):

	December 31,
	2019	2018
Prepaid expenses and other current assets	2,501	2,923
Other non-current assets	10,133	11,285

For the years ended December 31, 2019 and 2018, we amortized $20.4 million and $25.2 million of deferred contract acquisition costs and did not recognize any impairment losses in relation to the deferred costs.