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Components of Operating Expenses (Tables) | 3 Months Ended
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Mar. 31, 2024
Other Income and Expenses [Abstract] |
Schedule of Components of General and Administrative Expenses and Other Expenses | Components of our general and administrative expenses, portfolio management costs, loan acquisition costs, and other expenses for the three months ended March 31, 2024 and 2023 are presented in the following table. Table 22.1 – Components of Operating Expenses
|  | Three Months Ended March 31, |  |
(In Thousands) |  | 2024 |  | 2023 |  |  |  |
General and Administrative Expenses |  |  |  |  |  |  |  |
Fixed compensation expense (1) |  | $ | 16,257 |  |  | $ | 15,359 |  |  |  |  |
Annual variable compensation expense |  | 2,917 |  |  | 4,005 |  |  |  |  |
Long-term incentive award expense (2) |  | 6,487 |  |  | 7,942 |  |  |  |  |
Systems and consulting |  | 3,201 |  |  | 3,112 |  |  |  |  |
Office costs |  | 2,082 |  |  | 2,040 |  |  |  |  |
Accounting and legal |  | 1,217 |  |  | 919 |  |  |  |  |
Corporate costs |  | 872 |  |  | 929 |  |  |  |  |
Other |  | 1,536 |  |  | 1,249 |  |  |  |  |
Total General and Administrative Expenses |  | 34,569 |  |  | 35,555 |  |  |  |  |
Portfolio Management Costs |  | 3,597 |  |  | 3,510 |  |  |  |  |
Loan Acquisition Costs |  |  |  |  |  |  |  |
Commissions |  | 881 |  |  | 828 |  |  |  |  |
Underwriting costs |  | 682 |  |  | 242 |  |  |  |  |
Transfer and holding costs |  | 674 |  |  | 219 |  |  |  |  |
Total Loan Acquisition Costs |  | 2,237 |  |  | 1,289 |  |  |  |  |
Other Expenses |  |  |  |  |  |  |  |
Amortization of purchase-related intangible assets |  | 2,805 |  |  | 3,107 |  |  |  |  |
Other |  | 556 |  |  | 577 |  |  |  |  |
Total Other Expenses |  | 3,361 |  |  | 3,684 |  |  |  |  |
Total Operating Expenses |  | $ | 43,764 |  |  | $ | 44,038 |  |  |  |  |
(1)Includes $2 million and $1 million of severance and transition-related expenses for the three months ended March 31, 2024 and 2023, respectively. (2)Includes $1 million and $0.1 million of equity amortization expense related to employee terminations during the three months ended March 31, 2024 and March 31, 2023, respectively. For the three months ended March 31, 2024 and 2023, long-term incentive award expense included $6 million and $6 million of expense, respectively, for awards settleable in shares of our common stock, and $1 million and $2 million of expense, respectively, for awards settleable in cash.

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- Definition Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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