| Selling, General And Administrative Expense |
Selling, General and Administrative Expense
Selling, general and administrative (“SG&A”) expense includes of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2019 |
|
2018 |
|
2017 |
Cash expenses: |
|
|
|
|
|
Compensation and benefits |
$ |
19,364 |
|
|
$ |
42,950 |
|
|
$ |
15,322 |
|
Professional services |
17,128 |
|
|
11,854 |
|
|
7,765 |
|
Other(a)
|
10,300 |
|
|
10,718 |
|
|
7,503 |
|
Total cash SG&A expense |
46,792 |
|
|
65,522 |
|
|
30,590 |
|
Non-cash expenses: |
|
|
|
|
|
Bad debt provision(b)
|
1,434 |
|
|
(14,578 |
) |
|
16,098 |
|
Equity based compensation(c)
|
— |
|
|
17,487 |
|
|
— |
|
Stock based compensation |
3,326 |
|
|
4,666 |
|
|
3,198 |
|
Total non-cash SG&A expense |
4,760 |
|
|
7,575 |
|
|
19,296 |
|
Total SG&A expense |
$ |
51,552 |
|
|
$ |
73,097 |
|
|
$ |
49,886 |
|
|
|
a. |
Includes travel-related costs, IT expenses, rent, utilities and other general and administrative-related costs. |
|
|
b. |
During the year ended December 31, 2018, the Company received payment for amounts previously reserved in 2017. As a result, during the year ended December 31, 2018, the Company reversed bad debt expense of $16.0 million recognized in 2017.
|
|
|
c. |
Represents compensation expense for non-employee awards, which were issued and are payable by certain affiliates of Wexford (the sponsor level). See Note 17 for additional detail. |
|