Quarterly report pursuant to Section 13 or 15(d)

Other Operating (Expense) Income, Net

v3.23.1
Other Operating (Expense) Income, Net
 3 Months Ended
Mar. 31, 2023
Other Income and Expenses [Abstract]  
Other Operating (Expense) Income, Net

NOTE 10. OTHER OPERATING (EXPENSE) INCOME, NET

Other operating (expense) income, net is comprised of the following:

 

 

Three Months Ended
March 31,

 

 

 

2023

 

 

2022

 

Loss (gain) on disposal of assets, net

 

$

1.5

 

 

$

(0.2

)

Litigation expenses and accruals for legal contingencies

 

 

5.8

 

 

 

—

 

Reorganization costs

 

 

—

 

 

 

0.1

 

Acquisition earnout adjustment

 

 

(3.0

)

 

 

—

 

Provision for credit losses, net of recoveries

 

 

0.1

 

 

 

—

 

Total

 

$

4.4

 

 

$

(0.1

)

Loss (gain) on disposal of assets, net consists of gains and losses on 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 three months ended March 31, 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 Energy Holdings, LLC ("REV").