XML 29 R18.htm IDEA: XBRL DOCUMENT

Note 11 - Other Assets and Liabilities

3 Months Ended

Mar. 31, 2022

Other Assets and Other Liabilities [Text Block]

11.

Other assets and liabilities

Other assets consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):

	*March 31,*		*December 31,*
	*2022*		*2021*
Cash surrender value of life insurance policies	$	11,210	$	18,857
Prepayments		24,000		19,891
Value-added tax receivables		21,916		22,524
Collateral deposits		1,660		1,599
Deposits		6,763		7,331
Other		8,576		9,197
Total	$	74,125	$	79,399

Current		55,871		52,938
Non – current		18,254		26,461
Total	$	74,125	$	79,399

Other liabilities consisted of the following as of March 31, 2022 and December 31, 2021 (in thousands):

March 31,

December 31,

2022

2021

Deferred revenue
$ 11,330 $ 17,038

Other tax and social security
25,638 27,893

Income tax liabilities - non-current portion
47,493 45,741

Deferred compensation plan
8,457 9,339

Other
49,604 49,739

Total
$ 142,522 $ 149,750

Current
63,358 74,213

Non – current
79,164 75,537

Total
$ 142,522 $ 149,750

Cash Surrender Value of Life Insurance Policies

We had $11.2 million and $18.9 million of cash surrender value of life insurance policies as of March 31, 2022 and December 31, 2021, respectively, that are held within a trust established to settle payment of future executive deferred compensation benefit obligations. The decrease in the cash surrender value of life insurance policies as of March 31, 2022 as compared to December 31, 2021 was primarily due to a cash distribution from the trust to reimburse the Company for benefits paid pursuant to the executive deferred compensation benefit plan, the impact of which is included in “Proceeds from sale of investments” on the condensed consolidated statements of cash flows. Loss associated with these policies is included in “Other income, net” on our condensed consolidated statements of operations. Loss on changes in the cash surrender value of life insurance policies was $0.5 million for three months ended March 31, 2022.