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Note 11 - Other Assets and Liabilities

9 Months Ended

Sep. 30, 2022

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.