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Note 11 - Other Assets and Liabilities

6 Months Ended

Jun. 30, 2022

Other Assets and Other Liabilities [Text Block]

11.

Other assets and liabilities

Other assets consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):

	*June 30,*		*December 31,*
	*2022*		*2021*
Cash surrender value of life insurance policies	$	10,199	$	18,857
Prepayments		22,457		19,891
Value-added tax receivables		22,523		22,524
Collateral deposits		1,855		1,599
Deposits		6,825		7,331
Other		4,802		9,197
Total	$	68,661	$	79,399

Current		51,636		52,938
Non – current		17,025		26,461
Total	$	68,661	$	79,399

Other liabilities consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):

	*June 30,*		*December 31,*
	*2022*		*2021*
Deferred revenue	$	13,001	$	17,038
Other tax and social security		27,067		27,893
Income tax liabilities – non-current portion		47,697		45,741
Deferred compensation plan		7,234		9,339
Other		44,290		49,739
Total	$	139,289	$	149,750

Current		61,890		74,213
Non – current		77,399		75,537
Total	$	139,289	$	149,750

Cash Surrender Value of Life Insurance Policies

We had $10.2 million and $18.9 million of cash surrender value of life insurance policies as of June 30, 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 June 30, 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 / maturity 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 $0.1 million and $0.2 million for the three and six months ended June 30, 2022, respectively.