Note 5 - Business Disposals

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

5. Business disposals

The Company discontinued its operations in Russia in March 2022, by way of a sale of its controlling interests to local management. The Company also sold three individually insignificant operations during the year ended December 31, 2022 (EMEA - Morocco and Americas – Panama, Colombia, Costa Rica). The proceeds received from the disposals were de minimus and during the year ended December 31, 2022 the Company recognized a net aggregated loss on disposal of operations in the amount of $26,834.

The table below summarizes the change in the Company’s assets related to the disposal of operations and the calculation of the loss on disposal:

	Aggregate
	Disposals
Current assets, excluding cash	$	8,050
Non-current assets, excluding goodwill		4,394
Goodwill		7,052
Current liabilities	$	(9,197	)
Non-current liabilities		(2,905	)
Redeemable non-controlling interest	$	(2,361	)
Net assets of disposed operations, excluding cash		5,033
The below table summarizes the calculation of the loss on disposal of operations:
Cash consideration, net of disposed cash	$	(3,282	)
Less: Net assets of disposed operations, excluding cash		5,033
Plus: Reclasses from shareholders' equity to net earnings
Contributed surplus		93
Non-controlling interest		540
Accumulated foreign currency translation		(19,152	)
Loss on disposal of operations	$	(26,834	)