Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of Changes to Financial Statements for the Adoption of Accounting Pronouncements
The cumulative after-tax effect of the changes made to our condensed consolidated balance sheet for the adoption of ASC 842 were as follows:
(in ‘000 USD) At December 31, 2021 Adjustments
due to
ASC 842		 At
January 1
2022
Operating lease right-of-use assets $ —  $ 9,278  $ 9,278 
Current operating lease liabilities —  2,121  2,121 
Non-current operating lease liabilities —  7,483  7,483 
Current portion of capital lease liabilities included in Accrued liabilities 191  (191) — 
Current portion of finance lease liabilities included in Accrued liabilities —  191  191 
Non-current portion of capital lease liabilities included in Other long-term liabilities 264  (264) — 
Non-current portion of finance lease liabilities included in Other long-term liabilities —  264  264 
Accrued liabilities 21,311  (326) 20,985 
The cumulative after-tax effect of the changes made to our condensed consolidated balance sheet for the adoption of ASU 2020-06 were as follows:
(in ‘000 USD) At December 31, 2021 Adjustments
due to
ASU 2020-06 		At
January 1,
2022
Long-term debt and other borrowings, net $ 399,115  $ 15,163  $ 414,278 
Additional paid-in capital 413,646  (11,612) 402,034 
Deferred tax liabilities 36,722  (3,847) 32,875 
Retained earnings (138,179) 298  (137,881)