Annual report pursuant to Section 13 and 15(d)

OTHER EXPENSE ??? NET

v3.24.1
OTHER EXPENSE – NET
 12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
OTHER EXPENSE – NET

17. OTHER EXPENSE – NET

 

Other expense - net for the years ended December 31, 2023 and 2022 consisted of the following:

 

    2023     2022  
    Year Ended December 31,  
    2023     2022  
    ($ in thousands)  
Foreign exchange losses   $ (790 )   $ (610 )
Other expense     (93 )     (27 )
Other expense - net   $ (883 )   $ (637 )

 

 

Foreign currency transaction gains and losses primarily result from transactions in foreign currencies other than the functional currency. These transaction gains and losses are recorded in the consolidated statements of operations related to the recurring measurement and settlement of such transactions.