| Significant Accounting Policies [Text Block] | NOTE 2 Basis of Presentation The consolidated financial statements include the accounts of Lindblad Expeditions Holding, Inc. and its consolidated subsidiaries, after elimination of all intercompany accounts and transactions. The consolidated financial statements and accompanying footnotes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”). Reclassifications We have reclassified certain prior period amounts to conform to the current period presentation, with no Use of Estimates The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets, liabilities, revenues and expenses. Actual results could differ from such estimates. Management estimates include determining the estimated lives of long-lived assets, determining the fair value of assets acquired and liabilities assumed in business combinations, the fair value of the Company’s common stock and related warrants, the valuation of securities underlying stock-based compensation, income tax expense, the valuation of deferred tax assets and liabilities, the fair value of derivative instruments, the value of contingent consideration and assessing its litigation, other legal claims and contingencies. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period that they are determined to be necessary. Revenue Recognition Revenues are measured based on consideration specified in the Company’s contracts with guests and are recognized as the related performance obligations are satisfied. The majority of the Company’s revenues are derived from guest ticket contracts which are reported as tour revenues in the consolidated statements of operations. The Company’s primary performance obligation under these contracts is to provide an expedition and may Tour revenues also include revenues from the sale of goods and services onboard our ships, cancellation fees and trip insurance. Revenues from the sale of goods and services rendered onboard are recognized upon purchase. Guest cancellation fees are recognized as tour revenues at the time of the cancellation. The Company records a liability for estimated trip insurance claims based on the Company’s claims history. Proceeds received from trip insurance premiums in excess of this liability are recorded as revenue in the period in which they are received. Customer Deposits and Contract Liabilities The Company’s guests remit deposits in advance of tour embarkation. Guest deposits consist of guest ticket revenues as well as revenues from the sale of pre- and post-expedition excursions, hotel accommodations, land-based expeditions and air transportation to and from the ships. Guest deposits represent unearned revenues and are reported as unearned passenger revenues in the consolidated balance sheet when received and are subsequently recognized as tour revenue over the duration of the expedition. Accounting Standards Codification ("ASC"), Revenue from Contracts with Customers 606 not no $70.9 $62.1 December 31, 2018 December 31, 2017, December 31, 2017 December 31, 2018. Cost of Tours Cost of tours represents the direct costs associated with revenues during expeditions, including costs of pre- or post-expedition excursions, hotel accommodations, land-based expeditions, air and other transportation expenses and costs of goods and services rendered onboard, payroll and related expenses for shipboard and expedition personnel, food costs for guests and crew, fuel and related costs and other expenses such as land costs, port costs, repairs and maintenance, equipment expense, drydock, ship insurance and charter hire expenses. Insurance The Company maintains insurance to cover a number of risks including illness and injury to crew, guest injuries, pollution, other third third third As of December 31, 2018 2017, $125,000 $100,000, December 31, 2018 2017, $125,000 $100,000, $57,500 December 31, 2018 2017, Not four The Company also extends cancellation insurance to guests. The Company uses an insurance company to manage passenger insurance purchased to cover a variety of insurable losses including cancellations, interruption, missed connections, travel delays, accidental death and dismemberment, medical coverage and baggage issues. The Company is self-insured for the claims only which cover cancellations, interruption, missed connections and travel delays. The required reserve was determined based on claims experience. While the Company believes its estimated IBNR and accrued claims reserves are adequate, the ultimate losses may The Company participates in a traditional marine industry reinsurance solution for liability exposure through their Protection and Indemnity (“P&I Club”) Reinsurers, which are similar to mutual marine P&I Club’s that join and severally indemnify each other to provide discounted primary and excess Protection and Indemnity coverage to club members. The resulting aggregated surplus of the clubs combines to provide the Company with below market primary and high excess liability coverage for covered losses. For consideration of long-term below market Protection and Indemnity rates, the joint and several liability obligation requires the down-stream indemnification by their members, including the Company. General and Administrative Expense General and administrative expenses primarily represent the costs of our shore-side vessel support, reservations and other administrative functions, and includes salaries and related benefits, professional fees and occupancy costs. Selling and Marketing Expense Selling and marketing expenses include commissions, royalties and a broad range of advertising and marketing expenses. These include direct mail, print and online advertising costs, as well as costs associated with website development and maintenance. Also included are social media and corporate sponsorship costs. Advertising is charged to expense as incurred. Advertising expenses totaled $16.9 $16.4 $14.7 December 31, 2018, 2017 2016, $5.4 $6.3 $5.5 December 31, 2018, 2017 2016, Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of six The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the statement of cash flows: As of December 31, (In thousands) 2018 2017 Cash and cash equivalents $ 113,396 $ 96,443 Restricted cash and marketable securities 8,755 7,057 Total cash, cash equivalents and restricted cash shown in statement of cash flows $ 122,151 $ 103,500 Concentration of Credit Risk The Company maintains cash in several financial institutions in the U.S. and other countries which, at times, may December 31, 2018 2017, $6.4 $4.1 Restricted Cash and Marketable Securities Included in “Restricted cash and marketable securities” on the accompanying consolidated balance sheets are restricted cash and marketable securities, consisting of six As of 2018 2017 (In thousands) Federal Maritime Commission escrow $ 5,823 $ 4,186 Credit card processor reserves 1,530 1,530 Certificates of deposit and other restricted securities 1,402 1,341 Total restricted cash and marketable securities $ 8,755 $ 7,057 The amounts held in restricted cash and marketable securities represent principally funds required to be held in certificates of deposit by certain vendors and regulatory agencies and are classified as restricted assets since such amounts cannot be used by the Company until the restrictions are removed by those vendors and regulatory agencies. Interest income is recognized when earned. The Company has classified marketable securities, principally money market funds, as trading securities which are recorded at market value. Unrealized gains and losses are included in current operations. Gains and losses on the disposition of securities are recognized by the specific identification method in the period in which they occur. In order to operate guest tour expedition vessels from U.S. ports, the Company is required to either post a performance bond with the Federal Maritime Commission or escrow all unearned guest deposits plus an additional 10% $30 At December 31, 2018 2017, $1.5 third Marine Operating Supplies and Inventories Marine operating supplies consist primarily of fuel, provisions, spare parts, items required for maintenance and supplies used in the operation of marine expeditions. Marine operating supplies are stated at the lower of cost or net realizable value. Cost is determined using the first first Inventories consist primarily of gift shop merchandise and other items for resale and are stated at the lower of cost or net realizable value. Cost is determined using the first first Prepaid Expenses and Other Current Assets The Company records prepaid expenses and other current assets at cost and expenses them in the period the services are provided or the goods are delivered. The Company’s prepaid expenses and other current assets consist of the following: As of (In thousands) 2018 2017 Prepaid tour expenses $ 10,617 $ 9,846 Prepaid air expense 2,973 3,621 Prepaid marketing, commissions and other expenses 2,622 2,495 Prepaid client insurance 2,516 2,525 Prepaid port agent fees 1,433 1,022 Prepaid corporate insurance 1,078 1,033 Prepaid income taxes 24 809 Total prepaid expenses $ 21,263 $ 21,351 Property and Equipment Property and equipment, net is stated at cost less accumulated depreciation and amortization. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets, as follows: Years Vessels and vessel improvements 15 - 25 Furniture & equipment 5 Computer hardware and software 5 Leasehold improvements, including expedition sites and port facilities Shorter of lease term or related asset life The ship-based tour and expedition industry is very capital intensive. As of December 31 2018, eight National Geographic Quest National Geographic Venture third 2017 fourth 2018, National Geographic Endurance first 2020. Vessel improvement costs that add value to the Company’s vessels, such as those discussed above, are capitalized and depreciated over the shorter of the improvements or the vessel’s estimated remaining useful life, while costs of repairs and maintenance, including minor improvement costs and drydock expenses, are charged to expense as incurred and included in cost of tours. Drydock costs primarily represent planned maintenance activities that are incurred when a vessel is taken out of service. For U.S. flagged ships, the statutory requirement is an annual docking and U.S. Coast Guard inspections, normally conducted in drydock. Internationally flagged ships have scheduled dockings approximately every 12 three six Goodwill In accordance with ASC 360, September 30, not September 30, 2018 no 5 6 Intangible Assets Intangible assets include tradenames, customer lists and operating rights. Tradenames are words, symbols, or other devices used in trade or business to indicate the source of products and to distinguish it from other products and are registered with government agencies and are protected legally by continuous use in commerce. Customer lists are established relationships with existing customers that resulted in repeat purchases and customer loyalty. Based on the Company’s analysis, amortization of the tradenames and customer lists were computed using the estimated useful lives of 15 5 6 The Company operates two National Geographic Endeavour II 95 National Geographic Islander 47 In June 2015, November 2015. November 2015 July 2015, nine July 2024. no July 2024. Upon the occurrence of a triggering event, the assessment of possible impairment of the Company’s intangible assets will be based on the Company’s ability to recover the carrying value of its asset, which is determined by using the asset’s estimated undiscounted future cash flows. If these estimated undiscounted future cash flows are less than the carrying value of the asset, an impairment charge is recognized for the excess, if any, of the asset’s carrying value over its estimated fair value. A significant amount of judgment is required in estimating the future cash flows and fair values of its tradenames, customer lists and operating rights. As of December 31, 2018 2017, no not Long-Lived Assets The Company reviews its long-lived assets, principally its vessels, for impairment whenever events or changes in circumstances indicate that the carrying amounts of these assets may not As of December 31, 2018 2017, no not first 2016, National Geographic Endeavour National Geographic Endeavour II fourth 2016. National Geographic Endeavour’s December 31, 2015 one seven fourth 2016. 4 Accounts Payable and Accrued Expenses The Company records accounts payable and accrued expenses for the cost of such items when the service is provided or when the related product is delivered. The Company’s accounts payable and accrued expenses consist of the following: As of (In thousands) 2018 2017 Accrued other expenses $ 11,851 $ 7,664 Accounts payable 9,326 7,791 Bonus compensation liability 5,195 3,736 Employee liability 2,943 2,644 Refunds and commissions payable 1,533 1,805 Travel certificate liability 1,088 1,120 Royalty payable 1,005 1,010 Income tax liabilities 576 1,490 Accrued travel insurance expense 427 432 New build liability - 2,730 Total accounts payable and accrued expenses $ 33,944 $ 30,422 Leases The Company leases office space with lease terms ranging from one ten three six Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three Level 1 Quoted market prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at measurement date. Level 2 Quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Significant unobservable inputs for assets or liabilities that cannot be corroborated by market data. Fair value is determined by the reporting entity’s own assumptions utilizing the best information available and includes situations where there is little market activity for the investment. Level 3 no 3 The carrying amounts of cash and cash equivalents, accounts payable and accrued expenses and unearned passenger revenue approximate fair value, due to the short-term nature of these instruments. The carrying value of long-term debt approximates fair value given that the terms of the agreement were comparable to the market as of December 31, 2018 2017. December 31, 2018 2017, no The asset’s or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The Company’s derivative assets consist principally of interest rate caps and are carried at fair value based on significant observable inputs (Level 2 not Derivative Instruments and Hedging Activities By entering into derivative instrument contracts, the Company exposes itself, from time to time, to counterparty credit risk. Counterparty credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is in an asset position, the counterparty has a liability to the Company, which creates credit risk for the Company. The Company continues to monitor counterparty credit risk as part of its ongoing hedge assessments. The Company records derivatives on a gross basis in other long-term assets and other liabilities in the consolidated balance sheets at fair value. The accounting for changes in value of the derivative depends on whether or not not The Company held foreign exchange forward derivative instruments with notional values of approximately $32.8 $21.5 December 31, 2018 2017, 2 December 31, 2018 $1.3 December 31, 2017 $1.0 The Company applies hedge accounting to its interest rate derivatives entered into for risk management purposes. To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. In addition, key aspects of achieving hedge accounting are documentation of hedging strategy and hedge effectiveness at the hedge inception and substantiating hedge effectiveness on an ongoing basis. A derivative must be highly effective in accomplishing the hedge objective of offsetting changes in the cash flows of the hedged item for the risk being hedged. The effective portion of changes in the fair value of derivatives designated in a hedge relationship and that qualify as cash flow hedges is recorded in accumulated other comprehensive income, net of tax, and is subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company is exposed to market risks attributable to changes in interest rates on its term loan facility and seeks to hedge the risk of variability in cash flows associated with the changes in US$-LIBOR-Intercontinental Exchange associated with interest payments on its Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”). During the second 2018, first one May 31, 2023. Interest Rate Caps Corporate Debt Trade date and borrowing date May 29, 2018 March 27, 2018 Effective date September 27, 2018 Not applicable Termination date May 31, 2023 March 31, 2025 Notional amount $100,000,000 $100,000,000 Fixed interest rate (plus spread) 2.50% until November 30, 2018 Not applicable  2.75% December 1, 2018 until April 30, 2019 3.00% May 1, 2019 until maturity Variable interest rate 1 month LIBOR 1 month LIBOR + 3.50% Settlement Monthly on last day of each month Monthly on last day of each month Interest payment dates Monthly on last day of each month Monthly on last day of each month Reset dates Last day of each month Last day of each month The notional amount of outstanding debt associated with the interest rate cap agreements was $100.0 December 31, 2018, $0.7 815 2017 12. December 31, 2018, $0.7 not 12 The effects of cash flow hedge accounting on accumulated other comprehensive income were as follows: For the years ended (in thousands) 2018 2017 2016 Beginning balance: $ - $ - $ - Net change in period (671 ) - - Accumulated Other Comprehensive Income $ (671 ) $ - $ - The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no No December 31, 2018. Income Taxes The U. S. Tax Cuts and Jobs Act (the “Tax Act”) introduces significant changes to U.S. income tax law that have a meaningful impact on our provision for income taxes. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, we made reasonable estimates of the effects and recorded provisional amounts in our financial statements for the year ended December 31, 2017. 2017 During 2018, 118, December 22, 2018. fourth 2018, $0.6 one No 2018 The Company is subject to income taxes in both the U.S. and the non-U.S. jurisdictions in which it operates. Significant management judgment is required in projecting ordinary income to determine the Company’s estimated effective tax rate. The Company accounts for income taxes using the asset and liability method, under which it recognizes deferred income taxes for the tax consequences attributable to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, as well as for tax loss carryforwards and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The Company provides a valuation allowance against deferred tax assets if, based upon the weight of available evidence, the Company does not not” The Company regularly assesses the potential outcome of current and future examinations in each of the taxing jurisdictions when determining the adequacy of the provision for income taxes. The Company has only recorded financial statement benefits for tax positions which it believes reflect the “more-likely-than- not” December 31, 2018 2017, 0.3 $0.4 December 31, 2018 2017, The Company is subject to tax audits in all jurisdictions for which it files tax returns. Tax audits by their very nature are often complex and can require several years to complete. Currently, there are no 2018, three three four 2017 Other Long-Term Assets In 2016, $3.6 ational Geographic Endeavour II December 31, 2018 2017, $2.7 $3.5 In 2015, 2,387,499 $13.8 March 2020. December 31, 2018 2017 $3.6 $6.5 10 Deferred Financing Costs Deferred financing costs relate to the issuance costs of recognized debt liabilities and are presented in the consolidated balance sheets as direct deduction from the debt carrying amount. Deferred financing costs are amortized over the life of the debt or loan agreement through interest expense, net in the consolidated statements of operations. See Note 8 Foreign Currency Translation The U.S. dollar is the functional currency in the Company’s foreign operations and remeasurement adjustments and gains or losses resulting from foreign currency transactions are recorded as foreign exchange gains or losses in the consolidated statements of operations. Stock-Based Compensation The Company accounts for stock-based compensation issued to employees, non-employee directors or other service providers in accordance with ASC 718, Recent Accounting Pronouncements In August 2018, 2018 13, Fair Value Measurement 820 Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018 13 December 15, 2018. January 1, 2019, not In February 2016, No. 2016 02, Leases 842 July 2018 2018 11, Leases 842 Targeted Improvements 2016 02 December 15, 2018. January 1, 2019, $6.4 not Accounting Pronouncements Recently Adopted In August 2017, 2017 12, Derivatives and Hedging (Topic 815 2017 12 2017 12 December 31, 2018, 2017 12, second 2018, In May 2017, No. 2017 09, Compensation - Stock Compensation 718 : Scope of Modification Accounting No. 2017 09 No. 2017 09 December 15, 2017. January 1, 2018, not In January 2017, No. 2017 04, Intangibles and Othe 350 Simplifying the Test for Goodwill Impairment 2 2, January 1, 2018, not In January 2017, No. 2017 01, Business Combinations 805 Clarifying the Definition of a Business not January 1, 2018, not In November 2016, No. 2016 18, Statement of Cash Flows 230 Restricted Cash 2016 18 December 15, 2017. not In 2014, 2014 09, Revenue from Contracts with Customers 606 2014 09. January 1, 2018, not not not |
