The impact of this change in accounting principle to our current and prior years’ financial statements is presented in the following tables (in condensed format):

Consolidated Statements of Operations


	2016						2015						2014
(Dollars in thousands)	With breakage revenue		Without breakage revenue		Effect of change		As restated		As previously reported		Effect of change		As restated		As previously reported		Effect of change(1)
Revenues	$	270,473	$	269,855	$	618	$	257,865	$	257,323	$	542	$	255,242	$	254,748	$	494
Costs and expenses		(250,162)		(250,162)		--		(234,169)		(234,169)		--		(232,575)		(232,575)		--
Operating income		20,311		19,693		618		23,696		23,154		542		22,667		22,173		494
Interest expense (net), casualty loss and others		(7,873)		(7,873)		--		3,279		3,279		--		(7,329)		(7,329)		--
Income before income taxes and equity earnings of unconsolidated joint ventures		12,438		11,820		618		26,975		26,433		542		15,338		14,844		494
Equity earnings of unconsolidated joint ventures		999		999		--		1,204		1,204		--		1,015		1,015		--
Income before income taxes		13,437		12,819		618		28,179		27,637		542		16,353		15,859		494
Income tax benefit (expense)		(4,020)		(3,787)		(233)		(5,148)		(4,943)		(205)		8,925		9,785		(860)
Net income	$	9,417	$	9,032	$	385	$	23,031	$	22,694	$	337	$	25,278	$	25,644	$	(366)
Basic EPS	$	0.40	$	0.39	$	0.01	$	0.99	$	0.98	$	0.01	$	1.08	$	1.09	$	(0.01)
Diluted EPS	$	0.40	$	0.38	$	0.02	$	0.98	$	0.97	$	0.01	$	1.07	$	1.08	$	(0.01)

(1)The income tax effect of $860,000 in 2014 relates to the cumulative breakage revenue as of December 31, 2014. The tax effect of the portion that relates to years prior to 2014 was not recognized until 2014 due to full valuation allowance on our deferred tax assets in the U.S. as of December 31, 2013 and prior.

Consolidated Balance Sheets


	2016						2015
(Dollars in thousands)	With breakage revenue		Without breakage revenue		Effect of change		As restated		As previously reported		Effect of change
Assets
Current assets	$	72,641	$	72,641	$	--	$	36,921	$	36,921	$	--
Non-current assets
Deferred tax asset, net		28,667		28,900		(233)		24,584		25,649		(1,065)
Other non-current assets		304,458		304,458		--		310,693		310,693		--
Total Assets	$	405,766	$	405,999	$	(233)	$	372,198	$	373,263	$	(1,065)
Liabilities and Stockholders' Equity
Current liabilities
Deferred current revenue	$	10,758	$	11,376	$	(618)	$	11,771	$	14,591	$	(2,820)
Other current liabilities		55,228		55,228		--		60,731		60,731		--
Non-current liabilities		193,165		193,165		--		160,745		160,745		--
Total Liabilities	$	259,151	$	259,769	$	(618)	$	233,247	$	236,067	$	(2,820)
Stockholders' Equity
Retained earnings (accumulated deficit)	$	1,680	$	1,295	$	385	$	(7,723)	$	(9,478)	$	1,755
Other equity components		144,935		144,935		--		146,674		146,674		--
Total Stockholders' Equity	$	146,615	$	146,230	$	385	$	138,951	$	137,196	$	1,755
Total Liabilities and Stockholders' Equity	$	405,766	$	405,999	$	(233)	$	372,198	$	373,263	$	(1,065)

As a result of this accounting change, accumulated deficit as of January 1, 2014 decreased from $58.0 million to $56.2 million, or a net change of $1.8 million representing the cumulative breakage income adjustment (net of taxes) as of December 31, 2013.

Consolidated Statements of Cash Flows


	2016						2015						2014
(Dollars in thousands)	With breakage revenue		Without breakage revenue		Effect of change		As restated		As previously reported		Effect of change		As restated		As previously reported		Effect of change
Operating Activities
Net income	$	9,417	$	9,032	$	385	$	23,031	$	22,694	$	337	$	25,278	$	25,644	$	(366)
Adjustments to reconcile net income to net cash provided by operating activities
Change in net deferred tax assets		(5,060)		(5,293)		233		(4,067)		(4,272)		205		(14,029)		(14,889)		860
Other reconciling adjustments		19,128		19,128		--		5,786		5,786		--		18,775		18,775		--
Net changes in operating assets and liabilities
Deferred revenue and other liabilities		3,626		4,244		(618)		(745)		(203)		(542)		2,183		2,677		(494)
Other operating assets and liabilities		3,077		3,077		--		4,569		4,569		--		(3,864)		(3,864)		--
Net cash provided by operating activities	$	30,188	$	30,188	$	--	$	28,574	$	28,574	$	--	$	28,343	$	28,343	$	--
Investing Activities
Net cash used in investing activities	$	(42,861)	$	(42,861)	$	--	$	(29,710)	$	(29,710)	$	--	$	(9,898)	$	(9,898)	$	--
Financing Activities
Net cash provided by/(used in) financing activities	$	11,246	$	11,246	$	--	$	(27,961)	$	(27,961)	$	--	$	(3,275)	$	(3,275)	$	--
Effect of exchange rate on cash		742		742		--		(1,449)		(1,449)		--		(2,618)		(2,618)		--
Net increase (decrease) in cash and cash equivalents		(685)		(685)		--		(30,546)		(30,546)		--		12,552		12,552		--
Cash and cash equivalents beginning of the year		19,702		19,702		--		50,248		50,248		--		37,696		37,696		--
Cash and cash equivalents at the end of the year	$	19,017	$	19,017	$	--	$	19,702	$	19,702	$	--	$	50,248	$	50,248	$	--