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Note 5 - Other Current Receivables

3 Months Ended

Mar. 31, 2024

Note 5. Other Current Receivables

Other current receivables consist of the following as of March 31, 2024 and December 31, 2023 (in thousands):

	*March 31,*		*December 31,*
	*2024*		*2023*
Current income tax receivables	$	1,016	$	1,418
Employee receivables		201		249
Other receivables		2,848		2,375
Total other current receivables	$	4,065	$	4,042

Employee receivables primarily consist of amounts paid by us for foreign withholding tax paid on behalf of employees working on international assignments, which is expected to be reimbursed to us by the employees when refunded as foreign tax credits on their home-country tax returns. As of March 31, 2024 and December 31, 2023, a primary component of the other receivables balance is $1.2 million related to a company-owned life insurance policy associated with a non-qualified deferred compensation plan which was terminated in late 2023. We expect to utilize the proceeds from the liquidation of the insurance policy to fund the disbursements to settle liabilities under the terminated plan by the end of 2024. The associated liability of $1.2 million is included in other current liabilities on the accompanying condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023. In addition, the other receivables balances includes amounts associated with a technical services and assistance agreement with our partner in Oman, of which $0.9 million as of March 31, 2024 and December 31, 2023 pertains to the year ended December 31, 2023, and an additional $0.3 million as of March 31, 2024, pertains to the three month period then ended.