Prepaid Expenses and Other Current Assets

6 Months Ended

Jun. 30, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

8. Prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following (in thousands):

	June 30,		December 31,
	2022		2021
Recovery of future customer compensation	$	49,517	$	58,319
Insurance recovery asset		515		480
Prepaid expenses		8,991		9,573
Other current assets		283		4,132
Total prepaid expenses and other current assets	$	59,306	$	72,504

Recovery of future customer compensation represents expected recoveries of compensation to be paid to customers for event cancellations or other service issues related to previously recorded sales transactions. Recovery of future customer compensation costs decreased by $8.8 million due to a reduction in the estimated rate of future cancellations as of June 30, 2022. The provision related to these expected recoveries is included in Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets.

Other current assets decreased $3.8 million primarily due to the reduction of the prepaid deposit associated with a corporate credit card.