4. SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

Disaggregated Revenues

The Company has one line of business, acquiring and processing seismic data in North America. Our chief operating decision maker (President, Chief Executive Officer and Chairman of the Board) makes operating decisions and assesses performance based on the Company as a whole. Accordingly, the Company is considered to be in a single reportable segment. The following table presents the Company’s operating revenues (unaudited and in thousands) disaggregated by geographic region:


	Three Months Ended March 31,
	2020		2019
Operating Revenues
United States	$	27,188	$	37,636
Canada		11,791		13,528
Total	$	38,979	$	51,164

Deferred Costs (in thousands)

The opening balance of deferred cost was $2,525 and $6,994 at January 1, 2020 and 2019, respectively. The Company’s prepaid expenses and other current assets at March 31, 2020 and 2019 included deferred costs incurred to fulfill contracts with customers of $4,828 and $3,997, respectively.

Deferred costs at March 31, 2020 compared to January 1, 2020 increased primarily as a result of new projects for clients with significant deferred fulfillment costs at March 31, 2020. Deferred cost at March 31, 2019 compared to January 1, 2019 decreased primarily as a result of the completion of several projects during that quarter that had significant deferred fulfillment costs at January 1, 2019.

The amount of total deferred costs amortized for the first quarter of 2020 and 2019 was $5,396 and $12,905, respectively. There were no material impairment losses incurred during these periods.

Deferred Revenue (in thousands)

The opening balance of deferred revenue was $3,481 and $10,501 at January 1, 2020 and 2019, respectively. The Company’s deferred revenue at March 31, 2020 and 2019 was $5,168 and $5,675, respectively.

Deferred revenue at March 31, 2020 compared to January 1, 2020 increased primarily as a result of new projects for clients with large third party reimbursables where data has not yet been recorded. Deferred revenue at March 31, 2019 compared to January 1, 2019 decreased primarily as a result of completing projects for clients with large prepayments for third party reimbursables.

Revenue recognized for the first quarter of 2020 and 2019 that was included in the contract liability balance at the beginning of 2020 and 2019 was $3,093 and $6,893, respectively.