Annual report [Section 13 and 15(d), not S-K Item 405]

Selling, General and Administrative Expense

v3.25.0.1
Selling, General and Administrative Expense
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
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,
2024 2023 2022
Cash expenses:
Compensation and benefits $ 14,448  $ 15,563  $ 13,729 
Professional services 12,298  13,448  13,501 
Other(a)
7,146  7,693  8,012 
Total cash SG&A expense 33,892  36,704  35,242 
Non-cash expenses:
Change in provision for expected credit losses(b)
90,054  (591) 3,389 
Stock based compensation 875  1,345  923 
Total non-cash SG&A expense 90,929  754  4,312 
Total SG&A expense $ 124,821  $ 37,458  $ 39,554 
a.    Includes travel-related costs, information technology expenses, rent, utilities and other general and administrative-related costs.
b.     Included in the year ended December 31, 2024 amount is a charge of $89.2 million related to Cobra’s Settlement Agreement with PREPA. See Note 2. Summary of Significant Accounting Policies—Accounts Receivable and —Concentrations of Credit Risk and Significant Customers and Note 20. Commitments and Contingencies—Litigation included elsewhere in this report for additional information.