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Accrued and Other Expenses
3 Months Ended
Mar. 31, 2017
Payables And Accruals [Abstract]  
Accrued and Other Expenses

8. Accrued and Other Expenses

Accrued and other expenses were comprised of the following:

 

 

 

March 31, 2017

 

 

December 31, 2016

 

Employee related expenses

 

$

677

 

 

$

955

 

Accrued construction

 

 

-

 

 

 

19

 

Accrued legal expenses

 

 

231

 

 

 

22

 

Accrued professional fees

 

 

229

 

 

 

350

 

Accrued freight and delivery charges

 

 

2,508

 

 

 

383

 

Accrued revolving credit facility interest

 

 

42

 

 

 

-

 

Derivative liability

 

 

-

 

 

 

-

 

Other accrued liabilities

 

 

1,538

 

 

 

701

 

Total accrued liabilities

 

$

5,225

 

 

$

2,430

 

 

From time to time, the Company enters into fixed-price purchase obligations to purchase propane or natural gas (which are used in its production operations). The contracts specify the quantity of propane or natural gas to be delivered over a specified period of time and at a specified fixed price. The Company has historically concluded that these obligations are precluded from recognition in its consolidated financial statements in accordance with the normal sales and normal purchases exclusion as provided in ASC 815 “Derivatives and Hedging”. However, as the Company did not take physical delivery under a fixed-price propane agreement entered into during 2015, the Company accounted for this agreement under derivative accounting. As of December 31, 2015, the liability for this agreement was marked to market and was settled in February 2016 for $460. The settlement is presented as part of the change in accrued and other expenses in operating activities on the condensed consolidated statement of cash flows.