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Note 11 - Other Assets and Liabilities | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Other Assets and Other Liabilities [Text Block] |
11. | Other assets and liabilities
Other assets consisted of the following as of September 30, 2022 and December 31, 2021 (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Cash surrender value of life insurance policies |  | $ | - |  |  | $ | 18,857 |
Prepayments |  |  | 21,617 |  |  |  | 19,891 |
Value-added tax receivables |  |  | 23,670 |  |  |  | 22,524 |
Collateral deposits |  |  | 1,730 |  |  |  | 1,599 |
Deposits |  |  | 6,810 |  |  |  | 7,331 |
Other |  |  | 5,835 |  |  |  | 9,197 |
Total |  | $ | 59,662 |  |  | $ | 79,399 |
Current |  |  | 52,498 |  |  |  | 52,938 |
Non – current |  |  | 7,164 |  |  |  | 26,461 |
Total |  | $ | 59,662 |  |  | $ | 79,399 |
Other liabilities consisted of the following as of September 30, 2022 and December 31, 2021 (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Deferred revenue |  | $ | 21,840 |  |  | $ | 17,038 |
Other tax and social security |  |  | 32,051 |  |  |  | 27,893 |
Income tax liabilities – non-current portion |  |  | 52,280 |  |  |  | 45,741 |
Deferred compensation plan |  |  | - |  |  |  | 9,339 |
Provisions |  |  | 40,488 |  |  |  | 32,964 |
Other |  |  | 21,268 |  |  |  | 16,775 |
Total |  | $ | 167,927 |  |  | $ | 149,750 |
Current |  |  | 81,478 |  |  |  | 74,213 |
Non – current |  |  | 86,449 |  |  |  | 75,537 |
Total |  | $ | 167,927 |  |  | $ | 149,750 |
Cash surrender value of life insurance policies We had $18.9 million of cash surrender value of life insurance policies as of December 31, 2021, that were held within a trust established to settle payment of future executive deferred compensation benefit obligations. During the third quarter of 2022, the Company terminated the executive deferred compensation benefit plan. Please see Note 18 “Post-retirement benefits” for additional information. Prior to the termination of the executive deferred compensation plan, the impact of cash distributions from the trust for benefits paid pursuant to the executive deferred compensation benefit plan was included in “Proceeds from sale / maturity of investments” on the condensed consolidated statements of cash flows. Loss associated with these policies was 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 $0.3 million for the three and nine months ended September 30, 2022, respectively.

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