Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Current Liabilities and Other Long-Term Liabilities (Tables)

v3.22.1
Accrued Expenses and Other Current Liabilities and Other Long-Term Liabilities (Tables)
 3 Months Ended
Mar. 31, 2022
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities and Other Long-Term Liabilities Accrued expenses and other current liabilities and other long-term liabilities included the following (in thousands):
March 31, December 31,
2022 2021
Accrued legal settlement(a)
$ 19,334  $ 18,966 
State and local taxes payable 12,879  13,772 
Financed insurance premiums(b)
6,584  9,852 
Deferred revenue 3,169  3,250 
Sale-leaseback liability(c)
3,413  3,340 
Accrued compensation and benefits 2,977  5,133 
Payroll tax liability 2,052  2,810 
Financing leases 1,851  1,834 
Insurance reserves 1,237  1,413 
Other 2,254  2,146 
Total accrued expenses and other current liabilities $ 55,750  $ 62,516 
Other Long-Term Liabilities
Financing leases $ 3,906  $ 4,375 
Sale-leaseback liability(c)
6,458  7,318 
Total other long-term liabilities $ 10,364  $ 11,693 
a.In June 2021, the Company reached an agreement to settle a certain legal matter. See Note 18 for additional detail.
b.Financed insurance premiums are due in monthly installments, are unsecured and mature within the twelve-month period following the close of the year. As of March 31, 2022 and December 31, 2021, the applicable interest rate associated with financed insurance premiums ranged from 1.95% to 2.45%.
c.On December 30, 2020, the Company entered into an agreement with First National Capital, LLC (“FNC”) whereby the Company agreed to sell certain assets from its infrastructure segment to FNC for aggregate proceeds of $5.0 million. Concurrent with the sale of assets, the Company entered into a 36 month lease agreement whereby the Company agreed to lease back the assets at a monthly rental rate of $0.1 million. On June 1, 2021, the Company entered into another agreement with FNC whereby the Company sold additional assets from its infrastructure segment to FNC for aggregate proceeds of $9.5 million and entered into a 42 month lease agreement whereby the Company agreed to lease back the assets at a monthly rental rate of $0.2 million. Under the agreements, the Company has the option to purchase the assets at the end of the lease terms. The Company recorded liabilities for the proceeds received and will continue to depreciate the assets. The Company has imputed an interest rate so that the carrying amount of the financial liabilities will be the expected repurchase price at the end of the initial lease terms.