Accounts Receivable |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable |
Note 4 – Accounts Receivable
Accounts receivable at June 30, 2019 and December 31, 2018 consisted of the following:
For the three months ended June 30, 2019 and 2018, bad debt expense was $2.3 million and $0.7 million, respectively. For the six months ended June 30, 2019 and 2018, bad debt expense was $3.9 million and $1.3 million, respectively.
Accounts Receivable Factoring Arrangements
During the six months ended June 30, 2019, the Company entered into three accounts receivable factoring arrangements. Under the terms of the arrangements, the aggregate amount of accounts receivable sold on a non-recourse basis, was $1.8 million. The aggregate purchase price paid to the Company was $0.8 million, the total origination and other fees incurred by the Company were $0.1 million and the Company recorded a loss on sale of the receivables of $0.7 million. As of June 30, 2019, $1.0 million of the outstanding accounts receivable were purchased but not yet paid to the factor. Subsequent to June 30, 2019, the Company entered into two additional factoring arrangements as more fully discussed in Note 19. |