XML 23 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Restricted Cash
12 Months Ended
Dec. 31, 2021
Cash And Cash Equivalents [Abstract]  
Restricted Cash

NOTE 3 - RESTRICTED CASH

The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the consolidated balance sheets at December 31, 2021 and 2020 to the total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows for the years ended December 31, 2021, 2020, and 2019:

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

Beginning

 

 

Ending

 

 

Beginning

 

 

Ending

 

 

Beginning

 

 

Ending

 

Cash and cash equivalents

 

$

13,841

 

 

$

8,254

 

 

$

6,482

 

 

$

13,841

 

 

$

11,694

 

 

$

6,482

 

Restricted cash - current

 

 

68,146

 

 

 

12,179

 

 

 

 

 

 

68,146

 

 

 

 

 

 

 

Restricted cash - non-current

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,292

 

 

 

 

Total cash, cash equivalents, and restricted cash shown in the consolidated statement of cash flows

 

$

81,987

 

 

$

20,433

 

 

$

6,482

 

 

$

81,987

 

 

$

12,986

 

 

$

6,482

 

  

Under a contract with a customer commencing in the final quarter of fiscal year 2020, the Company received advance payments to be used to pay providers of service to the customer, a separate third-party. The advanced payments are treated as restricted cash - current as the Company is required under the contract to distribute the advanced funds to the third-party providers or return the advanced funds to the customer. Because the Company receives the advance payments from the customer, which must be refunded to the customer or remitted to a third party, the cash receipts are treated as borrowings rather than receipts for the provision of goods or services. Therefore, these cash receipts are presented in the consolidated statements of cash flows as financing cash inflows, “receipt of restricted contract funds”, with the subsequent payments classified as financing cash outflows, “payment of restricted contract funds.” See Note 9 – Accrued Expenses and Other Liabilities for the corresponding liability.