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INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2022
Supplemental Cash Flow Information [Abstract]  
Schedule of Interest Expenses
Interest expense in our Condensed Consolidated Financial Statements consisted of the following components:
Three Months Ended March 31,
(in thousands)20222021
Components associated with borrowings from:
Senior notes$6,216 $1,733 
Last Out Term Loans - cash interest— 3,513 
U.S. Revolving Credit Facility— 1,416 
6,216 6,662 
Components associated with amortization or accretion of:
Revolving Credit Agreement1,060 — 
Senior notes643 1,468 
U.S. Revolving Credit Facility — 4,400 
1,703 5,868 
Components associated with interest from:
Lease liabilities708 616 
Other interest expense2,640 1,077 
3,348 1,693 
Total interest expense$11,267 $14,223 
Schedule of Cash and Cash Equivalents Reconciliation
The following table provides a reconciliation of Cash and cash equivalents and Restricted cash and cash equivalents reporting within the Condensed Consolidated Balance Sheets and in the Condensed Consolidated Statements of Cash Flows:
(in thousands)March 31, 2022December 31, 2021March 31, 2021
Held by foreign entities$35,870 $42,070 $25,169 
Held by U.S. entities 72,267 182,804 28,664 
Cash and cash equivalents108,137 224,874 53,833 
Reinsurance reserve requirements584 443 2,053 
Bank guarantee collateral492 997 2,560 
Letters of credit collateral1,858 401 — 
Hold-back for acquisition purchase price (1)
5,899 — — 
Restricted cash and cash equivalents8,833 1,841 4,613 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$116,970 $226,715 $58,446 
(1) The purchase price for Fossil Power Systems ("FPS") was $59.1 million, including a hold-back of $5.9 million as reflected above. The hold-back is being held in escrow for potential payment of up to the maximum amount twelve months from the February 1, 2022 date of acquisition if the conditions are met. The hold-back amount is included in Restricted cash and cash equivalents and Other accrued liabilities on our Condensed Consolidated Balance Sheets.
Schedule of Restricted Cash and Cash Equivalents
The following table provides a reconciliation of Cash and cash equivalents and Restricted cash and cash equivalents reporting within the Condensed Consolidated Balance Sheets and in the Condensed Consolidated Statements of Cash Flows:
(in thousands)March 31, 2022December 31, 2021March 31, 2021
Held by foreign entities$35,870 $42,070 $25,169 
Held by U.S. entities 72,267 182,804 28,664 
Cash and cash equivalents108,137 224,874 53,833 
Reinsurance reserve requirements584 443 2,053 
Bank guarantee collateral492 997 2,560 
Letters of credit collateral1,858 401 — 
Hold-back for acquisition purchase price (1)
5,899 — — 
Restricted cash and cash equivalents8,833 1,841 4,613 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$116,970 $226,715 $58,446 
(1) The purchase price for Fossil Power Systems ("FPS") was $59.1 million, including a hold-back of $5.9 million as reflected above. The hold-back is being held in escrow for potential payment of up to the maximum amount twelve months from the February 1, 2022 date of acquisition if the conditions are met. The hold-back amount is included in Restricted cash and cash equivalents and Other accrued liabilities on our Condensed Consolidated Balance Sheets.
Schedule of Supplemental Cash Flow Disclosures
The following cash activity is presented as a supplement to our Condensed Consolidated Statements of Cash Flows and is included in Net cash used in operating activities:
Three Months Ended March 31,
(in thousands)20222021
Income tax payments, net$471 $1,499 
Interest payments - 8.125% Senior Notes due 2026
$3,783 $— 
Interest payments - 6.50% Senior Notes due 2026
2,926 — 
Interest payments on our U.S. Revolving Credit Facility— 5,979 
Interest payments on our Last Out Term Loans— 3,560 
Total cash paid for interest$6,709 $9,539