XML 44 R34.htm IDEA: XBRL DOCUMENT v3.22.2
Other balance sheet items (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2022 and December 31, 2021 ($ in thousands):
As of June 30,As of December 31,
20222021
Gross trade and other receivables (1)
$59,751 $47,382 
Allowance for doubtful accounts(803)(1,940)
Total trade and other receivables, net$58,948 $45,442 
________
(1) The opening balance as of January 1, 2021 was $28.3 million.
Schedule of Prepayments and Other Assets
The following summarizes the balances of prepayments and other assets as of June 30, 2022 and December 31, 2021 ($ in thousands):
As of June 30,As of December 31,
20222021
Advances to suppliers$6,592 $8,327 
Prepaid income taxes11,521 11,101 
Prepaid other taxes (1)
4,952 7,995 
Operating lease right-of-use assets3,371 3,766 
Key money2,322 2,376 
Other assets5,103 5,075 
Total prepayments and other assets$33,861 $38,640 
________
(1) Includes recoverable value-added tax, general consumption tax, and other sales tax accumulated by our Mexico, Jamaica, Dutch and Dominican Republic entities.
Schedule of Goodwill The gross carrying values and accumulated impairment losses of goodwill by reportable segment (refer to discussion of our reportable segments in Note 15) as of June 30, 2022 and December 31, 2021 are as follows ($ in thousands):
Yucatán PeninsulaPacific CoastDominican RepublicJamaicaTotal
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 $61,654 
Schedule of Other Intangible Assets, Indefinite-Lived
Other intangible assets as of June 30, 2022 and December 31, 2021 consisted of the following ($ in thousands):
As of June 30,As of December 31,
20222021
Gross carrying value
Casino and other licenses (1)
$875 $875 
Management contract1,900 1,900 
Enterprise resource planning system (2)
6,490 6,402 
Other4,171 4,073 
Total gross carrying value13,436 13,250 
Accumulated amortization
Management contract(380)(333)
Enterprise resource planning system (2)
(2,331)(1,895)
Other(3,641)(3,390)
Total accumulated amortization(6,352)(5,618)
Net carrying value
Casino and other licenses (1)
875 875 
Management contract1,520 1,567 
Enterprise resource planning system (2)
4,159 4,507 
Other530 683 
Total net carrying value$7,084 $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 $0.9 million was placed into service in 2021 and is being amortized over a weighted-average amortization period of 7 years.
Schedule of Other Intangible Assets, Finite-Lived
Other intangible assets as of June 30, 2022 and December 31, 2021 consisted of the following ($ in thousands):
As of June 30,As of December 31,
20222021
Gross carrying value
Casino and other licenses (1)
$875 $875 
Management contract1,900 1,900 
Enterprise resource planning system (2)
6,490 6,402 
Other4,171 4,073 
Total gross carrying value13,436 13,250 
Accumulated amortization
Management contract(380)(333)
Enterprise resource planning system (2)
(2,331)(1,895)
Other(3,641)(3,390)
Total accumulated amortization(6,352)(5,618)
Net carrying value
Casino and other licenses (1)
875 875 
Management contract1,520 1,567 
Enterprise resource planning system (2)
4,159 4,507 
Other530 683 
Total net carrying value$7,084 $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 $0.9 million was placed into service in 2021 and is being amortized over a weighted-average amortization period of 7 years.
Schedule of Trade and Other Payables
The following summarizes the balances of trade and other payables as of June 30, 2022 and December 31, 2021 ($ in thousands):
As of June 30,As of December 31,
20222021
Trade payables$26,906 $23,843 
Advance deposits (1)
58,837 62,644 
Withholding and other taxes payable34,603 32,655 
Interest payable198 99 
Payroll and related accruals21,562 23,998 
Accrued expenses and other payables23,113 16,983 
Total trade and other payables$165,219 $160,222 
________
(1) The opening balance as of January 1, 2021 was $29.7 million.
Schedule of Other Liabilities
The following summarizes the balances of other liabilities as of June 30, 2022 and December 31, 2021 ($ in thousands):
As of June 30,As of December 31,
20222021
Pension obligation (1)(2)
$7,124 $5,990 
Operating lease liabilities3,891 4,298 
Unfavorable ground lease liability1,912 1,967 
Key money (3)
15,877 16,731 
Other2,155 896 
Total other liabilities$30,959 $29,882 
________
(1) For the three months ended June 30, 2022 and 2021, the service cost component of net periodic pension cost was $0.2 million and $0.2 million, respectively. For the six months ended June 30, 2022 and 2021, the service cost component was $0.4 million and $0.4 million, respectively. The costs are recorded within direct expense in the Condensed Consolidated Statements of Operations.
(2) For the three months ended June 30, 2022 and 2021, the non-service cost components of net periodic pension cost were $0.1 million and $0.4 million, respectively. For the six months ended June 30, 2022 and 2021, the non-service cost components were $0.5 million and $0.5 million, respectively. The costs are recorded within other income (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.