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REVENUE RECOGNITION (Tables) | 12 Months Ended
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Dec. 31, 2018
Revenue Recognition |
Summary of contracts asset and liabilities | Contract assets and liabilities consisted of the following (amounts in thousands):
|  | December 31, 2018 |  | January 1, 2018 |  | $ Change |  | % Change
Contract asset – current | $ | 1,900 | $ | 1,176 | $ | 724 |  | 62%
Contract asset – noncurrent |  | 802 |  | 453 |  | 349 |  | 77%
Contract liabilities |  | (13,787) |  | (9,912) |  | (3,875) |  | 39%
Net contract liability | $ | (11,085) | $ | (8,283) | $ | (2,802) |  | 34%
ASU 2014-09 |
Revenue Recognition |
Summary of changes to the Company’s financial statements as a result of the adoption of ASC 606 | The tables below identify changes to the Company’s financial statements as of December 31, 2018 and for the year then ended as a result of the adoption of ASC 606 as compared to previous revenue guidance (amounts in thousands):
Balance Sheet - December 31, 2018
|  | Reported |  | Change |  | Under previous guidance
Prepayments and other current assets | $ | 37,855 | $ | (3,319) | $ | 34,536
Total current assets |  | 275,765 |  | (3,319) |  | 272,446
Other assets |  | 37,708 |  | (1,785) |  | 35,923
Total assets |  | 1,107,304 |  | (5,104) |  | 1,102,200
Advance payments and deposits |  | 20,574 |  | (337) |  | 20,237
Accrued taxes |  | 31,795 |  | (131) |  | 31,664
Total current liabilities |  | 140,650 |  | (468) |  | 140,182
Deferred income taxes |  | 10,276 |  | (302) |  | 9,974
Total liabilities |  | 283,980 |  | (770) |  | 283,210
Retained earnings |  | 563,593 |  | (2,481) |  | 561,112
Minority interest |  | 127,937 |  | (1,853) |  | 126,084
Total equity |  | 823,324 |  | (4,334) |  | 818,990
Total liabilities and equity | $ | 1,107,304 | $ | (5,104) | $ | 1,102,200
|  | Statement of Operations |
|  | Year ended December 31, 2018 |
|  | Reported |  | Change |  | Under previous guidance |
Wireless revenue | $ | 198,824 | $ | (1,075) | $ | 197,749 |
Total revenue |  | 451,207 |  | (1,075) |  | 450,132 |
Sales, marketing and customer service |  | 35,207 |  | 755 |  | 35,962 |
Total operating expenses |  | 390,184 |  | 755 |  | 390,939 |
Income from operations |  | 61,023 |  | (1,830) |  | 59,193 |
Income before taxes |  | 53,742 |  | (1,830) |  | 51,912 |
Income tax provision |  | 18,870 |  | (131) |  | 18,739 |
Net income |  | 34,872 |  | (1,699) |  | 33,173 |
Net income attributable to non-controlling interests |  | (15,057) |  | 706 |  | (14,351) |
Net income attributable to ATN International, Inc. stockholders | $ | 19,815 | $ | (993) | $ | 18,822 |
|  | Statement of Comprehensive Loss |
|  | Year ended December 31, 2018 |
|  | Reported |  | Change |  | Under previous guidance |
Net income | $ | 34,872 | $ | (1,699) | $ | 33,173 |
Other comprehensive loss, net of tax |  | (5,152) |  | — |  | (5,152) |
Comprehensive loss |  | 29,720 |  | (1,699) |  | 28,021 |
Less: Comprehensive income attributable to non-controlling interests |  | (15,057) |  | 706 |  | (14,351) |
Comprehensive income (loss) attributable to ATN International, Inc. | $ | 14,663 | $ | (993) | $ | 13,670 |
Statement of Cash Flows - Year ended December 31, 2018
|  | Reported |  | Change (1) |  | Under previous guidance
Net income | $ | 34,872 | $ | (1,699) | $ | 33,173
Materials and supplies, prepayments and other current assets | $ | 5,924 | $ | 1,243 | $ | 7,167
Accrued taxes |  | 29,089 |  | (131) |  | 28,958
Accounts payable and accrued liabilities, advance payments and deposits and other current liabilities |  | (7,044) |  | (107) |  | (7,151)
Other assets | $ | (238) | $ | 694 | $ | 456
| (1) |  | The adoption of ASC 606 had no impact on operating cash flows, investing cash flows, financing cash flows or net change in total cash.

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