Other balance sheet items (Tables)

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Trade and Other Receivables, Net

The following summarizes the balances of trade and other receivables, net as of March 31, 2022 and December 31, 2021 ($ in thousands):

	As of March 31,		As of December 31,
	2022		2021
Gross trade and other receivables (1)	$	63,026	$	47,382
Allowance for doubtful accounts	(1,366)		(1,940)
Total trade and other receivables, net	$	61,660	$	45,442

________

(1) The opening balance as of January 1, 2021 was $28.3 million.

Schedule of Prepayments and Other Assets

The following summarizes the balances of prepayments and other assets as of March 31, 2022 and December 31, 2021 ($ in thousands):

	As of March 31,		As of December 31,
	2022		2021
Advances to suppliers	$	7,895	$	8,327
Prepaid income taxes	11,550		11,101
Prepaid other taxes (1)	8,344		7,995
Operating lease right-of-use assets	3,569		3,766
Key money (2)	2,349		2,376
Other assets	5,205		5,075
Total prepayments and other assets	$	38,912	$	38,640

________

(1) Includes recoverable value-added tax, general consumption tax, and other sales tax accumulated by our Mexico, Jamaica, Dutch and Dominican Republic entities.

(2) Represents a cash deposit related to the Sanctuary Cap Cana management contract. In April 2021, we entered into an agreement to classify this deposit as key money.

Schedule of Goodwill

The gross carrying values and accumulated impairment losses of goodwill by reportable segment (refer to discussion of our reportable segments in Note 15) as of March 31, 2022 and December 31, 2021 are as follows ($ in thousands):

	Yucatán Peninsula		Pacific Coast		Dominican Republic		Jamaica		Total
Gross carrying value	$	51,731	$	—	$	—	$	35,879	$	87,610
Accumulated impairment losses	(6,168)		—		—		(19,788)		(25,956)
Net carrying value	$	45,563	$	—	$	—	$	16,091	$	61,654

Schedule of Other Intangible Assets, Indefinite-Lived

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

	As of March 31,		As of December 31,
	2022		2021
Gross carrying value
Casino and other licenses (1)	$	875	$	875
Management contract	1,900		1,900
Enterprise resource planning system (2)	6,452		6,402
Other	4,099		4,073
Total gross carrying value	13,326		13,250
Accumulated amortization
Management contract	(356)		(333)
Enterprise resource planning system (2)	(2,113)		(1,895)
Other	(3,517)		(3,390)
Total accumulated amortization	(5,986)		(5,618)
Net carrying value
Casino and other licenses (1)	875		875
Management contract	1,544		1,567
Enterprise resource planning system (2)	4,339		4,507
Other	582		683
Total net carrying value	$	7,340	$	7,632

________

(1) Our casino and other licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization.

(2) Represents software development costs incurred to develop and implement SAP as our integrated enterprise resource planning system, of which $0.9 million was placed into service in 2021 and is being amortized over a weighted-average amortization period of 7 years.

Schedule of Other Intangible Assets, Finite-Lived

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

	As of March 31,		As of December 31,
	2022		2021
Gross carrying value
Casino and other licenses (1)	$	875	$	875
Management contract	1,900		1,900
Enterprise resource planning system (2)	6,452		6,402
Other	4,099		4,073
Total gross carrying value	13,326		13,250
Accumulated amortization
Management contract	(356)		(333)
Enterprise resource planning system (2)	(2,113)		(1,895)
Other	(3,517)		(3,390)
Total accumulated amortization	(5,986)		(5,618)
Net carrying value
Casino and other licenses (1)	875		875
Management contract	1,544		1,567
Enterprise resource planning system (2)	4,339		4,507
Other	582		683
Total net carrying value	$	7,340	$	7,632

________

(1) Our casino and other licenses have indefinite lives. Accordingly, there is no associated amortization expense or accumulated amortization.

(2) Represents software development costs incurred to develop and implement SAP as our integrated enterprise resource planning system, of which $0.9 million was placed into service in 2021 and is being amortized over a weighted-average amortization period of 7 years.

Schedule of Trade and Other Payables

The following summarizes the balances of trade and other payables as of March 31, 2022 and December 31, 2021 ($ in thousands):

	As of March 31,		As of December 31,
	2022		2021
Trade payables	$	24,294	$	23,843
Advance deposits (1)	61,188		62,644
Withholding and other taxes payable	35,142		32,655
Interest payable	99		99
Payroll and related accruals	20,306		23,998
Accrued expenses and other payables	19,445		16,983
Total trade and other payables	$	160,474	$	160,222

________

(1) The opening balance as of January 1, 2021 was $29.7 million.

Schedule of Other Liabilities

The following summarizes the balances of other liabilities as of March 31, 2022 and December 31, 2021 ($ in thousands):

	As of March 31,		As of December 31,
	2022		2021
Pension obligation (1)(2)	$	6,735	$	5,990
Operating lease liabilities	4,096		4,298
Unfavorable ground lease liability	1,939		1,967
Key money (3)	16,466		16,731
Other	900		896
Total other liabilities	$	30,136	$	29,882

________

(1) For the three months ended March 31, 2022 and 2021, the service cost component of net periodic pension cost was $0.2 million and $0.2 million, respectively. The costs are recorded within direct expense in the Condensed Consolidated Statements of Operations.

(2) For the three months ended March 31, 2022 and 2021, the non-service cost components of net periodic pension cost were $0.4 million and $0.1 million, respectively. The costs are recorded within other expense in the Condensed Consolidated Statements of Operations.

(3) Represents the unamortized balance of key money received, which is amortized as a reduction to franchise fees within direct expenses in the Condensed Consolidated Statements of Operations.