Quarterly report pursuant to Section 13 or 15(d)

Other Operating Expense, Net

v3.23.2
Other Operating Expense, Net
 6 Months Ended
Jun. 30, 2023
Other Income and Expenses [Abstract]  
Other Operating Expense, Net

NOTE 11. OTHER OPERATING EXPENSE, NET

Other operating expense, net is comprised of the following:

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

(Gain) loss on disposal of assets

 

$

(0.5

)

 

$

2.2

 

 

$

1.0

 

 

$

2.0

 

Litigation expenses and accruals for legal contingencies

 

 

7.4

 

 

 

4.0

 

 

 

13.2

 

 

 

4.0

 

Reorganization costs

 

 

—

 

 

 

(0.1

)

 

 

—

 

 

 

—

 

Acquisition earnout adjustment

 

 

(3.6

)

 

 

—

 

 

 

(6.6

)

 

 

—

 

Provision for credit losses, net of recoveries

 

 

—

 

 

 

—

 

 

 

0.1

 

 

 

—

 

Total

 

$

3.3

 

 

$

6.1

 

 

$

7.7

 

 

$

6.0

 

(Gain) loss on disposal of assets, net consists of gains and losses on the sale of excess property, early equipment failures and other asset dispositions.

Litigation expenses and accruals for legal contingencies generally represent legal and professional fees incurred in litigation as well as estimates for loss contingencies with regards to certain vendor disputes and litigation matters. In the six months ended June 30, 2023, these costs represent litigation costs incurred in connection with a patent infringement lawsuit against Halliburton. See Note 7 for a discussion of significant litigation matters.

The acquisition earnout adjustment represents a decrease in the fair value of the contingent consideration related to our acquisition of REV in December 2022.