Quarterly report pursuant to Section 13 or 15(d)

Selling, General and Administrative Expense (Tables)

v3.24.3
Selling, General and Administrative Expense (Tables)
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
Schedule of Selling, General and Administrative Expense Selling, general and administrative (“SG&A”) expense includes of the following (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2024 2023 2024 2023
Cash expenses:
Compensation and benefits $ 3,173  $ 3,392  $ 10,394  $ 11,665 
Professional services 3,503  4,684  9,016  10,889 
Other(a)
1,775  2,105  5,249  5,884 
Total cash SG&A expense 8,451  10,181  24,659  28,438 
Non-cash expenses:
Change in provision for expected credit losses charged to bad debt expense(b)
32  11  89,645  (414)
Stock based compensation 219  219  657  1,127 
Total non-cash SG&A expense 251  230  90,302  713 
Total SG&A expense $ 8,702  $ 10,411  $ 114,961  $ 29,151 
a.    Includes travel-related costs, information technology expenses, rent, utilities and other general and administrative-related costs.
b.    Included in the nine months ended September 30, 2024 amounts is a charge of $89.2 million related to Cobra’s Settlement Agreement with PREPA. See Note 2. Basis of Presentation and Significant Accounting Policies—Accounts Receivable and —Concentrations of Credit Risk and Significant Customers and Note 19. Commitments and Contingencies—Litigation included elsewhere in this report for additional information.