XML 58 R40.htm IDEA: XBRL DOCUMENT v3.24.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of supplemental cash flow information
The following table shows supplemental cash flow information (in thousands):
Year Ended December 31,
202320222021
Supplemental disclosures of cash flow information:  
Cash paid during the period:  
Interest paid, net of amounts capitalized$1,598 $1,777 $1,775 
Income taxes paid, net556 2,562 2,262 
Non-cash investing and financing activities:  
Purchases of property and equipment included in accounts payable and accrued liabilities$211 $2,527 $508 
Schedule of estimated useful lives of the fixed assets Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows:
 Life
(years)
Building40
Land improvements20
Building machinery and equipment
15-20
Furniture and equipment
5-7
Computer hardware
3-4
Computer software, including internal-use software and website development
2-4
Schedule of valuation techniques and unobservable inputs
The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of our Level 3 equity securities:
InvestmentFair ValueValuation TechniqueUnobservable InputsInputs
tZERO$37,126 Market approach - transaction backsolve with an option pricing modelTerm to liquidity5.0 years
Volatility125%
Percentage change in enterprise value for guideline public companies7.8%
SpeedRoute3,920 Market approach - recent transactionsN/AN/A
Total$41,046 
Valuation TechniqueUnobservable InputsRange (1)Weighted Average (2)
Market approachEnterprise value to revenue multiple
0.88x
0.88x
Discounted cash flows – exit multipleDiscount rate
9.0% - 35.0%
32.4%
Enterprise value to revenue multiple
0.75x – 5.00x
4.40x
Projected terminal year2023 – 20272025
Annual revenue growth rate
1.3% - 124.0%
109.4%
Annual EBITDA % of revenues
5.2% - 41.2%
36.3%
Discounted cash flows – perpetual growthDiscount rate30.0%30.0%
Projected terminal year20282028
Perpetual revenue growth rate3.0%3.0%
Annual revenue growth rate25.7%25.7%
Annual EBITDA % of revenues14.9%14.9%
 __________________________________________
(1)     — The range for the Annual revenue growth rate and Annual EBITDA % of revenues are based on the weighted average metrics for the annual periods of the separate cash flow models for the respective component.
(2)     — Unobservable inputs were weighted by the relative fair value based on the fair value of the underlying components subjected to the identified valuation technique. For projected terminal year, the amount represents the median of the inputs and is not a weighted average.