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REVENUE RECOGNITION | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE RECOGNITION | REVENUE RECOGNITION See Note 18, Segment Information, for revenue summarized by reportable segment and category. Contract Balances Our deferred revenue relates to gift card revenue and is recognized upon customer redemption. For prior periods, deferred revenue also included product sales and was recognized as the products were delivered to customers, generally within two weeks following the balance sheet date. Our deferred revenue was $1.6 million as of December 31, 2022. As of December 31, 2021 and 2020, our deferred revenue was $3.5 million and $11.2 million, all of which was recognized during the years ended December 31, 2022 and 2021, respectively. Customer Credits The following table summarizes the activity in the liability for customer credits for the years ended December 31, 2022 and 2021 (in thousands):
| Customer Credits
Balance as of December 31, 2020 | $ | 61,006 |
Credits issued | 217,407 |
Credits redeemed (1) | (178,720) |
Breakage revenue recognized (2) | (41,800) |
Foreign currency translation | (1,335) |
Balance as of December 31, 2021 | $ | 56,558 |
Credits issued | 134,317 |
Credits redeemed (1) | (128,247) |
Breakage revenue recognized | (25,802) |
Foreign currency translation | (606) |
Balance as of December 31, 2022 | $ | 36,220 |
(1)Historically, customer credits have primarily been used within one year of issuance; however, usage patterns were impacted from changes in customer behavior due to COVID-19. (2)The increase in our breakage revenue recognized was largely due to a change in estimate due to lower customer usage patterns from COVID-19. Cost of Obtaining Contracts Deferred contract acquisition costs are presented in Prepaid expenses and other current assets and Other non-current assets on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, deferred contract acquisition costs were $5.9 million and $8.0 million. The amortization of deferred contract acquisition costs is classified within Selling, general and administrative expense in the Consolidated Statements of Operations. For the years ended December 31, 2022, 2021 and 2020, we amortized $10.7 million, $10.5 million and $15.3 million of deferred contract acquisition costs. Allowance for Expected Credit Losses on Accounts Receivable The following table summarizes the activity in the allowance for expected credit losses on accounts receivables for the year ended December 31, 2022 (in thousands):
| Allowance for Expected Credit Losses
Balance as of December 31, 2020 | $ | 9,756 |
Change in provision | (28) |
Write-offs | (1,875) |
Foreign currency translation | 121 |
Balance as of December 31, 2021 | $ | 7,974 |
Change in provision | (1,335) |
Write-offs | (1,618) |
Foreign currency translation | (483) |
Balance as of December 31, 2022 | $ | 4,538 |
Variable Consideration for Unredeemed Vouchers During the years ended December 31, 2022 and 2021, we recognized $9.1 million and $31.4 million of variable consideration from unredeemed vouchers that were sold in a prior year. During the year ended December 31, 2021, the substantial majority of vouchers sold at the onset of the COVID-19 pandemic reached expiration at redemption rates lower than our historical estimates. Although redemption rates for vouchers sold in more recent periods have improved, the impact of macroeconomic conditions on redemption behavior in future periods is still uncertain. When actual redemptions differ from our estimates, the effects could be material to the Consolidated Financial Statements.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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