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Revenues | 3 Months Ended
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Mar. 31, 2020
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Revenue Recognition Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The majority of our revenues are recognized over time as services are performed, with certain revenues, most significantly the revenue share we earn from our print textbook partners, being recognized at the point in time when print textbooks are shipped to students. The following table sets forth our total net revenues for the periods shown disaggregated for our Chegg Services and Required Materials product lines (in thousands, except percentages):
| Three Months Ended March 31, |  | Change |  |
| 2020 |  | 2019 |  | $ |  | %
Chegg Services | $ | 100,359 |  |  | $ | 75,292 |  |  | $ | 25,067 |  |  | 33 | %
Required Materials | 31,231 |  |  | 22,117 |  |  | 9,114 |  |  | 41 |
Total net revenues | $ | 131,590 |  |  | $ | 97,409 |  |  | $ | 34,181 |  |  | 35 |
During the three months ended March 31, 2020 and 2019, we recognized $17.5 million and $12.4 million, respectively, of revenues that were included in our deferred revenue balance at the beginning of each reporting period. During the three months ended March 31, 2020 and 2019, we recognized an immaterial amount of previously deferred revenues recognized from performance obligations satisfied in previous periods. During the three months ended March 31, 2020, we recognized $12.3 million of operating lease income from print textbook rentals that we own. The aggregate amount of unsatisfied performance obligations is approximately $35.8 million as of March 31, 2020, which are expected to be recognized into revenues over the next year. Contract Balances The following table presents our accounts receivable, net, deferred revenue, and contract assets balances (in thousands, except percentages):
|  |  | Change
| March 31, 2020 |  | December 31, 2019 |  | $ |  | %
Accounts receivable, net | $ | 6,493 |  |  | $ | 11,529 |  |  | $ | (5,036 | ) |  | (44 | )%
Deferred revenue | 35,753 |  |  | 18,780 |  |  | 16,973 |  |  | 90 |
Contract assets | 4,482 |  |  | 3,531 |  |  | 951 |  |  | 27 |
During the three months ended March 31, 2020, our accounts receivable, net balance decreased by $5.0 million, or 44%, primarily due to timing of billings and seasonality of our business. During the three months ended March 31, 2020, our deferred revenue balance increased by $17.0 million, or 90%, primarily due to increased bookings for our Chegg Study service and eTextbook service driven by the seasonality of our business as well as from print textbooks that we own that are recognized ratably rather than immediately. During the three months ended March 31, 2020, our contract assets balance increased by $1.0 million, or 27%, primarily due to payment arrangements for Thinkful.

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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 http://asc.fasb.org/topic&trid=49130388 + Details
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