Other Operating Charges, net

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

The major components of “Other operating charges, net” in the Consolidated Statements of Operations are:


	Years Ended December 31,
	2023		2022		2021
Costs associated with mill closure	$	—	$	0.4	$	50.0
Reorganization and other expenses	1.8		1.6		8.4
Miscellaneous environmental accruals	—		—		(1.8)
Impairment of equipment	2.1		6.1		—
Directors' equity-based compensation expense	0.9		0.9		1.1
Other	0.4		0.7		—
	$	5.3	$	9.7	$	57.7

2023

During 2023, we recorded $5.3 million of expense in "Other operating charges, net". The main components of the expense include:

•expense of $1.8 million related to reorganization and other expenses including consulting and legal fees associated with our efforts to achieve long-term performance improvements,

•loss of $2.1 million associated with the impairment of equipment and related spare parts no longer being used; and

•expense of $0.9 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.

2022

During 2022, we recorded a $9.7 million net loss in "Other operating charges, net". The components of the net loss include:

•expense of $0.4 million associated with mill closure costs,

•loss of $6.1 million associated with the impairment of fixed assets,

•expenses of $1.6 million related to reorganization and other expenses including consulting fees associated with our efforts to achieve long-term performance improvements, and

•expense of $0.9 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.

2021

During 2021, we recorded a $57.7 million net loss in "Other operating charges, net". The components of the net loss include:

•expense of $50.0 million associated with mill closure, and subsequent sale of land, building and related equipment, including $37.2 million associated with the impairment of fixed assets and certain inventory and $12.8 million associated with severance and other related closure costs,

•expenses of $8.4 million related to reorganization and other expenses including consulting fees associated with our efforts to achieve long-term performance improvements,

•gain of $1.8 million associated with the release of asset retirement obligations attributable to divested assets, and

•expense of $1.1 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.