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Revenues | 3 Months Ended
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Mar. 31, 2021
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 being recognized at a point in time. 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
| 2021 |  | 2020 |  |  |  | $ |  | %
Chegg Services | $ | 162,351 |  |  | $ | 100,359 |  |  |  |  | $ | 61,992 |  |  | 62 | %
Required Materials | 36,027 |  |  | 31,231 |  |  |  |  | 4,796 |  |  | 15 |
Total net revenues | $ | 198,378 |  |  | $ | 131,590 |  |  |  |  | $ | 66,788 |  |  | 51 |
During the three months ended March 31, 2021 and 2020, we recognized $29.5 million and $17.5 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, 2021 and 2020, we recognized $10.7 million and $12.3 million, respectively, of operating lease income from print textbook rentals that we own. Contract Balances The following table presents our accounts receivable, net, deferred revenue, and contract assets balances (in thousands, except percentages):
|  |  | Change |  |
| March 31, 2021 |  | December 31, 2020 |  |  |  | $ |  | % |  |  |  |
Accounts receivable, net | $ | 11,633 |  |  | $ | 12,913 |  |  |  |  | $ | (1,280) |  |  | (10) | % |  |  |  |
Deferred revenue | 48,608 |  |  | 32,620 |  |  |  |  | 15,988 |  |  | 49 |  |  |  |  |
Contract assets | 18,043 |  |  | 13,243 |  |  |  |  | 4,800 |  |  | 36 |  |  |  |  |
During the three months ended March 31, 2021, our accounts receivable, net balance decreased by $1.3 million, or 10%, primarily due to timing of billings and seasonality of our business. During the three months ended March 31, 2021, our deferred revenue balance increased by $16.0 million, or 49%, primarily due to increased bookings driven by higher Chegg Services revenue. During the three months ended March 31, 2021, our contract assets balance increased by $4.8 million, or 36%, primarily due to the income sharing payment arrangements we offer to students for our Thinkful service.

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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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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