Note 4 - Financial Statement Details

6 Months Ended

Jun. 30, 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 six months ended June 30,
(In thousands)	2019		2018
	(unaudited)		(unaudited)
Cash and cash equivalents	$	78,746	$	91,561
Restricted cash		33,305		22,803
Total cash, cash equivalents and restricted cash as presented in the statement of cash flows	$	112,051	$	114,364

Restricted cash consists of the following:

	As of June 30, 2019		As of December 31, 2018
(In thousands)	(unaudited)
Federal Maritime Commission escrow	$	32,000	$	5,823
Certificates of deposit and other restricted securities		1,305		1,402
Credit card processor reserves		-		1,530
Total restricted cash	$	33,305	$	8,755

Prepaid expenses and other current assets consist of the following:

(In thousands)	As of June 30, 2019		As of December 31, 2018
	(unaudited)
Prepaid tour expenses	$	18,860	$	10,617
Prepaid corporate insurance		2,688		1,158
Prepaid client insurance		2,663		2,436
Prepaid air expense		2,585		2,973
Prepaid port agent fees		2,377		1,433
Prepaid marketing, commissions and other expenses		2,001		2,622
Prepaid income taxes		123		24
Total prepaid expenses	$	31,297	$	21,263

Accounts payable and accrued expenses consist of the following:

(In thousands)	As of June 30, 2019		As of December 31, 2018
	(unaudited)
Accrued other expense	$	10,778	$	11,851
Accounts payable		7,944		9,326
Bonus compensation liability		3,444		5,195
Employee liability		3,147		2,943
Income tax liabilities		1,988		576
Royalty payable		1,425		1,005
Refunds and commissions payable		1,107		1,533
Travel certificate liability		940		1,088
Accrued travel insurance expense		427		427
Total accounts payable and accrued expenses	$	31,200	$	33,944