Note 4 - Financial Statement Details

3 Months Ended

Mar. 31, 2019

NOTE

– FINANCIAL STATEMENT DETAILS

The following is a reconciliation of cash, cash equivalents and restricted cash to the statement of cash flows:

	For the three months ended March 31,
(In thousands)	2019		2018
	(unaudited)		(unaudited)
Cash and cash equivalents	$	70,103	$	97,284
Restricted cash		30,537		20,237
Total cash, cash equivalents and restricted cash as presented in the statement of cash flows	$	100,640	$	117,521

Restricted cash consist of the following:

	As of March 31, 2019		As of December 31, 2018
(In thousands)	(unaudited)
Federal Maritime Commission escrow	$	27,198	$	5,823
Credit card processor reserves		1,530		1,530
Certificates of deposit and other restricted securities		1,809		1,402
Total restricted cash	$	30,537	$	8,755

The Company’s prepaid expenses and other current assets consist of the following:

(In thousands)	As of March 31, 2019		As of December 31, 2018
	(unaudited)
Prepaid tour expenses	$	14,816	$	10,617
Prepaid corporate insurance		3,426		1,158
Prepaid client insurance		2,659		2,436
Prepaid marketing, commissions and other expenses		2,639		2,622
Prepaid air expense		2,473		2,973
Prepaid port agent fees		1,781		1,433
Prepaid income taxes		169		24
Total prepaid expenses	$	27,963	$	21,263

The Company’s accounts payable and accrued expenses consist of the following:

(In thousands)	As of March 31, 2019		As of December 31, 2018
	(unaudited)
Accounts payable	$	11,545	$	9,326
Accrued other expense		9,323		11,851
Employee liability		2,979		2,943
Bonus compensation liability		1,985		5,195
Royalty payable		1,417		1,005
Income tax liabilities		1,817		576
Travel certificate liability		882		1,088
Refunds and commissions payable		801		1,533
Accrued travel insurance expense		427		427
Total accounts payable and accrued expenses	$	31,176	$	33,944