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Note 11 - Other Assets and Liabilities

12 Months Ended

Dec. 31, 2022

Other Assets and Other Liabilities [Text Block]

11. Other assets and liabilities

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

	*December 31,*
	*2022*		*2021*
Cash surrender value of life insurance policies	$	-	$	18,857
Prepayments		18,084		19,891
Value-added tax receivables		20,727		22,524
Collateral deposits		1,669		1,599
Deposits		7,245		7,331
Other		5,513		9,197
Total	$	53,238	$	79,399

Current		44,975		52,938
Non – current		8,263		26,461
Total	$	53,238	$	79,399

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

	*December 31,*
	*2022*		*2021*
Deferred revenue	$	51,192	$	17,038
Other tax and social security		28,557		27,893
Income tax liabilities - non-current portion		58,036		45,741
Deferred compensation plan		-		9,339
Provisions		45,248		32,964
Other		21,882		16,775
Total	$	204,915	$	149,750

Current		107,750		74,213
Non – current		97,165		75,537
Total	$	204,915	$	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 2022, the Company terminated the executive deferred compensation benefit plan. Please see Note 19 “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 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 $0.3 million for the year ended December 31, 2022.