Table:
|  | December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Deferred revenue | $3,012 | $3,655 |
| Customer arrangements with termination rights | 15,024 | 16,404 |
| Estimated refund liabilities | 8,585 | 10,117 |
|  | $26,621 | $30,176 |
Paragraphs:
Deferred Revenue and Customer Liabilities
Deferred revenue and customer liabilities consisted of the following (in thousands):
The Company expects to recognize the majority of its deferred revenue as of December 31, 2019 over the next 180 days. Revenues of $3.7 million were recognized during the year ended December 31, 2019 from amounts included in deferred revenue at December 31, 2018. Revenues of $4.4 million were recognized during the year ended December 31, 2018 from amounts included in deferred revenue at January 1, 2018.
The Company expects to recognize the majority of the customer arrangements with termination rights into revenue as the Company has not historically experienced a high rate of contract terminations.
Estimated refund liabilities are generally resolved in 180 days, once it is determined whether the requisite service levels and client requirements were achieved to settle the contingency.
Question:
In which year was deferred revenue larger?
Answer: Because 3,655>3,012, the answer is: 2018.