Quarterly report pursuant to Section 13 or 15(d)

Prepaids and Other Current Assets

v3.20.2
Prepaids and Other Current Assets
9 Months Ended
Sep. 30, 2020
Prepaid Expense And Other Assets Current [Abstract]  
PREPAIDS AND OTHER CURRENT ASSETS

NOTE 4 – PREPAIDS AND OTHER CURRENT ASSETS

 

Prepaids and other current assets as of September 30, 2020 and December 31, 2019 consisted of the following (in thousands):

 

 

 

September 30, 2020

 

 

December 31, 2019

 

Prepaid insurance

 

$

3,847

 

 

$

11,127

 

Income tax receivable

 

 

1,567

 

 

 

810

 

Other current assets

 

 

5,029

 

 

 

1,395

 

Total prepaid expenses and other current assets

 

$

10,443

 

 

$

13,332

 

 

During the third quarter of 2020, certain pieces of equipment were damaged. The Company has insurance coverage in place covering, among other things, property damage up to certain specified amounts. Other current assets include recoverable costs from insurance amounting to $3.1 million, which represents net book value of the equipment damaged.