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  "documentTitle": "Wix | Results Presentation Deck | 27 slides",
  "authorId": "wix",
  "authorName": "Wix",
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  "presentationDate": "2018-07-01 00:00:00",
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  "pageNumber": 21,
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  "nDataPoints": 2,
  "notes": "Explains why cash flow statement figures may not match balance sheet changes for deferred revenue.",
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  "slideHref": "/slides/019de50f-1df5-768d-a2c2-5c5eeced286e/21",
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      "text": "Deferred revenue\nThe changes in short term and long term deferred revenues on our statement of cash flows for the six months ended June 30, 2018 will not match the differences in these deferred revenue accounts on our balance sheet. The reason is due to our transition to ASC 606 for revenue recognition using the modified retrospective approach in our financial statements. Under this approach, we allocated ~$28M in deferred revenue to retained earnings on our balance sheet on January 1, 2018. Because this reclassification has no impact on our cash, it does not appear in the statement of cash flows.",
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      "text": "Financial Income and Expense\nFinancial income and expense is primarily comprised of two items: 1) income related to interest earned from the investment of our cash and 2) income and expense related to our hedging activities and exchange rate differences. Through H1 2018, we generated ~$1.5M in interest income, and there was a net ~$0 income or expense related to hedging activities and rate differences.",
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