BUSINESS TRANSFORMATION AND PROFESSIONAL FEES

9 Months Ended

Sep. 30, 2017

Restructuring And Related Activities [Abstract]

BUSINESS TRANSFORMATION AND PROFESSIONAL FEES

NOTE 5 – BUSINESS TRANSFORMATION AND PROFESSIONAL FEES

During the third quarter of 2017, we initiated a comprehensive multi-year initiative with the objective of transforming the Company’s business processes, systems and organizational design to enable future profitable growth (the “Business Transformation”). For the three months ended September 30, 2017, we recorded $4.2 million of advisory and consulting services expenses related to the Transformation which are reflected as part of SG&A on the Condensed Consolidated Statements of Income (Loss).

During the three and nine months ended September 30, 2017, we recorded $10.9 million and $15.3 million, respectively, for advisory and consulting services related to the implementation of the new revenue recognition and leases accounting standards, and internal control remediation related costs. These expenses are reflected as part of SG&A on the Condensed Consolidated Statements of Income (Loss).