XML 30 R18.htm IDEA: XBRL DOCUMENT

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities

6 Months Ended

Jun. 30, 2024

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

(11)

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

As of June 30, 2024, our property and equipment consisted primarily of 213 owned vessels located around the world. As of December 31, 2023, our property and equipment consisted primarily of 217 owned vessels. We have six Alucat crew boats under construction for which we have made down payments totaling approximately EUR2.7 million ($2.9 million) in prior years and may incur debt with the shipyard upon deliveries in 2024 and 2025 totaling approximately EUR10.7 million ($11.5 million). These crew boats, upon completion, will be employed in our African market.

A summary of properties and equipment is as follows:

(In Thousands)
	June 30, 2024		December 31, 2023
Properties and equipment:
Vessels and related equipment	$	1,718,341	$	1,716,339
Other properties and equipment		41,686		32,447
		1,760,027		1,748,786
Less accumulated depreciation and amortization		506,444		433,664
Properties and equipment, net	$	1,253,583	$	1,315,122

A summary of accrued expenses is as follows:

(In Thousands)
	June 30, 2024		December 31, 2023
Payroll and related payables	$	42,165	$	34,989
Accrued vessel expenses		48,618		48,076
Accrued interest expense		21,665		17,128
Other accrued expenses		20,701		25,397
	$	133,149	$	125,590

A summary of other current liabilities is as follows:

(In Thousands)
	June 30, 2024		December 31, 2023
Taxes payable	$	35,206	$	44,461
Other		8,136		10,672
	$	43,342	$	55,133

A summary of other liabilities is as follows:

(In Thousands)
	June 30, 2024		December 31, 2023
Pension liabilities	$	18,827	$	19,003
Liability for uncertain tax positions		21,782		27,319
Other		21,930		18,663
	$	62,539	$	64,985