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Note 12 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities

9 Months Ended

Sep. 30, 2023

Other Assets Accrued Expenses Other Current Liabilities And Other Liabilities And Deferred Credits [Text Block]

(12)

PROPERTIES AND EQUIPMENT, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES

As of September 30, 2023, our property and equipment consist primarily of 219 active vessels located around the world, excluding one vessel we have classified as held for sale. As of December 31, 2022, our property and equipment consisted primarily of 183 active vessels, which excluded eight vessels classified as held for sale. We have five Alucat crew boats under construction for which we have made down payments totaling approximately EUR2.6 million ($2.9 million) in 2022 and 2023 and will incur debt with the shipyard upon deliveries in 2023 and 2024 totaling approximately EUR10.5 million ($11.1 million). These crew boats, upon completion, will be employed in our African market.

A summary of properties and equipment is as follows:

(In Thousands)
	September 30, 2023		December 31, 2022
Properties and equipment:
Vessels and related equipment	$	1,704,505	$	1,070,821
Other properties and equipment		38,168		35,819
		1,742,673		1,106,640
Less accumulated depreciation and amortization		394,672		309,985
Properties and equipment, net	$	1,348,001	$	796,655

A summary of accrued expenses is as follows:

(In Thousands)
	September 30, 2023		December 31, 2022
Payroll and related payables	$	33,901	$	35,425
Accrued vessel expenses		42,042		47,307
Accrued interest expense		19,364		2,037
Other accrued expenses		24,324		20,749
	$	119,631	$	105,518

A summary of other current liabilities is as follows:

(In Thousands)
	September 30, 2023		December 31, 2022
Taxes payable	$	36,089	$	39,355
Other		17,212		10,968
	$	53,301	$	50,323

A summary of other liabilities is as follows:

(In Thousands)
	September 30, 2023		December 31, 2022
Pension liabilities	$	19,740	$	17,383
Liability for uncertain tax positions		30,218		35,468
Other		16,288		14,992
	$	66,246	$	67,843