Commitments and contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments

Revolving Credit Facilities "RCF", Credit Line Facilities and Bank Overdrafts

As mentioned in Notes 2 and 3, we are party to an RCF with a syndicate of banks which allows us to draw up to an additional €210.0 million ($245.9 million).

We are also party to short-term credit lines and overdraft facilities with HSBC plc, BNP Paribas and LCL with an authorization to draw up to a maximum of €21.5 million ($25.2 million) in the aggregate under the short-term credit lines and overdraft facilities. As of September 30, 2020, we had not drawn on any of these facilities. Any loans or overdrafts under these short-term facilities bear interest based on the one month EURIBOR rate or three month EURIBOR rate. As these facilities are exclusively short-term credit and overdraft facilities, our banks have the ability to terminate such facilities on short notice.

Contingencies

Changes in provisions during the presented periods are summarized below:


	Provision for employee-related litigation		Other provisions		Total
	(in thousands)
Balance at January 1, 2020	$	620	$	5,765	$	6,385
Increase	228		—		228
Provision used	(5)		(823)		(828)
Provision released not used*	—		(2,116)		(2,116)
Currency translation adjustments	32		(112)		(80)
Other**	$	—	(2,629)		(2,629)
Balance at September 30, 2020	$	875	$	85	$	960
- of which current	875		85		960

*Due to changes in management's best estimates of the future outflow
**Transfer to Other liabilities due to tax notification received confirming the amount owed

The amount of the provisions represents management’s best estimate of the future outflow.