Expenses

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Expenses

Expenses:

For the years ended December 31	2023		2022
Cost of sales	$	2,797,794	$	3,238,312
Selling and distribution	552,693		498,552
Administrative expenses	109,415		81,657
Total expenses by function	$	3,459,902	$	3,818,521
Cost of raw materials and purchased methanol	2,329,856		2,789,921
Ocean freight and other logistics	357,495		325,893
Employee expenses, including share-based compensation	243,542		219,012
Other expenses	137,179		111,275
Cost of sales and operating expenses	3,068,072		3,446,101
Depreciation and amortization	391,830		372,420
Total expenses by nature	$	3,459,902	$	3,818,521

For the year ended December 31, 2023 we recorded a share-based compensation expense of $34.5 million (2022 - expense of $15.4 million), the majority of which is included in administrative expenses for the total expenses by function presentation above.

Included in cost of sales is $466.3 million (2022 - $532.5 million) of cost of sales which are recognized as sales to Methanex in our Atlas equity investee’s statements of income.