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Note 17 - Other Income | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Other Income and Other Expense Disclosure [Text Block] | 17. Other income: On August 1, 2020, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”), by and between the Company and DISH Wireless L.L.C. (“DISH”). Under the Purchase Agreement and in accordance with the terms and conditions set forth therein, the Company sold to DISH its mobile customer accounts that are marketed and sold under the Ting brand (other than certain customer accounts associated with one network operator) (“Transferred Assets”). For a period of 10 years following the execution of the Purchase Agreement, DISH will pay a monthly fee to the Company generally equal to an amount of net revenue received by DISH in connection with the transferred customer accounts minus certain fees and expenses, as further set forth in the Purchase Agreement. The Company earned the amounts noted in the table below under the Purchase Agreement during the three months ended March 31, 2024 and March 31, 2023.
(Dollar amounts in thousands of U.S. dollars) |  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Income earned on sale of transferred assets |  | $ | 3,621 |  |  | $ | 4,370 |
Total other income |  | $ | 3,621 |  |  | $ | 4,370 |
The Company recorded interest income amounting to $1.0 million and $0.1 million for the three months ended March 31, 2024 and 2023 respectively. This significant increase was primarily due to the strategic investment of excess 2023 Term Notes proceeds into Money Market Deposit Accounts ("MMDAs") and Certificates of Deposit ("CDs"), which generated $1.0 million in interest income. Interest expense, net has been included in '"Other Income" as follows (Dollar amounts in thousands of US dollars):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Interest expense |  | $ | (12,879 | ) |  | $ | (7,934 | )
Interest income |  |  | 1,000 |  |  |  | 54 |
Interest expense, net |  | $ | (11,879 | ) |  | $ | (7,880 | )

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
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