XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.23.2

Restatement of previously issued financial statements | 3 Months Ended
--- | ---
Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract] |
Restatement of previously issued financial statements | Restatement of previously issued financial statements The Company restated its previously issued Condensed Consolidated Financial Statements as of and for the three month ended March 31, 2023. In connection with the preparation of our second quarter 2023 condensed consolidated financial statements, Travelzoo realized that the non-controlling interest (NCI) classification during the first quarter of 2022, the second quarter of 2022, the third quarter of 2022, the year ended December 31, 2022 and the first quarter of 2023 had not been correctly updated. When the put/call option in the Company’s stock purchase agreement with JFC Travel Group Co. expired in January 2022, the Company did not reclassify the NCI from temporary equity to permanent equity. The reclassification of NCI from temporary equity to permanent equity reduced temporary equity and increased permanent equity by $4.6 million but did not have any impact on the Company's previously reported total assets, total liabilities and stockholders’ equity, results of operations or cash flows. The impacts from the restatement as of and for the three months ended March 31, 2023 are as follows (in thousands): Condensed Consolidated Balance Sheet:
| March 31, 2023
| As Reported |  | Adjustments |  | As Restated
Non-controlling interest | $ | 4,603 |  |  | $ | (4,603) |  |  | $ | — |
Stockholders’ equity: |  |  |  |  |
Total Travelzoo stockholders’ equity | 8,219 |  |  | — |  |  | 8,219 |
Non-controlling interest | — |  |  | 4,603 |  |  | 4,603 |
Total stockholders’ equity | $ | 8,219 |  |  | $ | 4,603 |  |  | $ | 12,822 |
Condensed Consolidated Statement of Stockholders’ Equity:
| March 31, 2023
| As Reported |  | Adjustments |  | As Restated
Total Travelzoo stockholders’ equity | $ | 8,219 |  |  | $ | — |  |  | $ | 8,219 |
Non-controlling interest | — |  |  | 4603 |  | 4,603 |
Total stockholders’ equity | $ | 8,219 |  |  | $ | 4,603 |  |  | $ | 12,822 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting error correction. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 + Details
Name: | us-gaap_ErrorCorrectionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration