XML 58 R46.htm IDEA: XBRL DOCUMENT v3.24.3
Note 7 - Segment Reporting - Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total adjusted EBITDA $ 231,865 $ 188,602 $ 523,787 $ 425,222
Interest expense (22,910) (24,707) (69,833) (72,862)
Depreciation and amortization (43,152) (42,951) (127,934) (124,149)
Non-cash write-down and other adjustments (1) [1] (468) (2,055) (2,863) 5,257
Non-cash share-based compensation expense (2) [2] (13,115) (9,927) (38,270) (30,306)
Transaction costs and credit facility fees (3) [3] (1,337) (921) (4,029) (3,161)
Business optimization and other charges (4) [4] (1,564) (5,291) (3,190) (8,151)
Provision for legal, regulatory, and clean energy product charges (5) [5] (2,382) (22,113) (5,280) (27,913)
Change in fair value of investment (6) [6] 5,198 0 (2,938) 0
Loss on extinguishment of debt (7) [7] (4,861) 0 (4,861) (0)
Other (43) (575) (156) (443)
Income before provision for income taxes 147,231 80,062 264,433 163,494
Domestic [Member]        
Total adjusted EBITDA 211,567 160,270 450,416 331,134
International [Member]        
Total adjusted EBITDA $ 20,298 $ 28,332 $ 73,371 $ 94,088
[1] Includes gains/losses on dispositions of assets other than in the ordinary course of business, gains/losses on sales of certain investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting and contingent consideration adjustments.
[2] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.
[3] Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement, equity issuance or debt issuance or refinancing, together with certain fees relating to our senior secured credit facilities, such as administrative agent fees and credit facility commitment fees under our Amended Credit Agreement.
[4] Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions.
[5] Represents the following significant and unusual charges not indicative of our ongoing operations: • A provision for judgments and legal expenses related to certain patent and securities lawsuits - $2,382 in the third quarter of 2024; $4,915 year-to-date 2024; and $22,113 in the third quarter of 2023. • Additional customer support costs related to a clean energy product customer that filed for bankruptcy in 2022 – $365 in the first quarter of 2024. • A provision for a matter with the Consumer Product Safety Commission ("CPSC") concerning the imposition of civil fines for allegedly failing to timely submit a report under the Consumer Product Safety Act ("CPSA") in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021 - $5,800 in the first quarter of 2023.
[6] Represents non-cash losses from changes in the fair value of the Company's investment in warrants and equity securities of Wallbox N.V.
[7] Represents fees paid to creditors and the write-off of the unamortized original issue discount and deferred financing costs in connection with the restructuring of the Company's Tranche B Term Loan Facility.