The cumulative effect of the changes made to our Statement of Financial Position at January 1, 2018 were as follows:



(in thousands)	Balance at December 31, 2017		Adjustments due to ASC 606			Balance at January 1, 2018
Statement of Financial Position:
Assets
Deferred tax asset	$	19,390	$	10,188		$	29,578
Liabilities
Contract liability	—		48,514			48,514
Equity
Retained earnings	2,140,853		(38,326		)	2,102,527

The impact of adoption on our Statement of Financial Position at September 30, 2018 was as follows:



	September 30, 2018
(in thousands)	As Reported		Balances without ASC 606		Impact of Change Higher/(Lower)
	(Unaudited)
Statement of Financial Position:
Assets
Deferred tax asset	$	37,660	$	26,742	$	10,918
Liabilities
Contract liability	51,989		—		51,989
Equity
Retained earnings	2,211,013		2,252,084		(41,071		)

The impact of adoption on our Statement of Operations at September 30, 2018 was as follows:



	Three months ended								Nine months ended
(in thousands)	As Reported			Balances without ASC 606		Impact of Change Higher/(Lower)			As Reported			Balances without ASC 606			Impact of Change Higher/(Lower)
	(Unaudited)								(Unaudited)
Statement of Operations:
Management fee revenue allocated to policy issuance and renewal services, gross	$	451,070		$	465,982	$	(14,912	)	$	1,315,202		$	1,358,680		$	(43,478	)
Less: change in allowance for management fee returned on cancelled policies	291			300		(9		)	(3,291		)	(3,400		)	109
Management fee revenue allocated to policy issuance and renewal services, net	$	451,361		$	466,282	$	(14,921	)	$	1,311,911		$	1,355,280		$	(43,369	)


Management fee revenue allocated to administrative services, gross	$	13,538		$	—	$	13,538		$	39,939		$	—		$	39,939
Less: change in allowance for management fee returned on cancelled policies	(17		)	—		(17		)	(45		)	—			(45		)
Management fee revenue allocated to administrative services, net	13,521			—		13,521			39,894			—			39,894
Administrative services reimbursement revenue	140,172			—		140,172			432,642			—			432,642
Total revenue allocated to administrative services	$	153,693		$	—	$	153,693		$	472,536		$	—		$	472,536


Administrative services expenses	$	140,172		$	—	$	140,172		$	432,642		$	—		$	432,642