Mexco Energy (MXC) 10-Q 12 Feb 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Feb. 12, 2018
Document And Entity Information
Entity Registrant Name	MEXCO ENERGY CORP
Entity Central Index Key	66,418
Document Type	10-Q
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,037,266
Trading Symbol	MXC
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Current assets
Cash and cash equivalents	$ 97,282	$ 73,451
Accounts receivable:
Oil and gas sales	399,987	381,414
Trade	30,415	13,744
Escrow	200,000
Prepaid costs and expenses	18,782	36,325
Total current assets	746,466	504,934
Property and equipment, at cost
Oil and gas properties, using the full cost method	35,669,560	37,640,096
Other	107,484	107,484
Accumulated depreciation, depletion and amortization	(26,417,172)	(25,572,606)
Property and equipment, net	9,359,872	12,174,974
Other noncurrent assets	121,598	28,157
Total assets	10,227,936	12,708,065
Current liabilities
Accounts payable and accrued expenses	212,429	137,259
Total current liabilities	212,429	137,259
Long-term debt	950,000	2,900,000
Asset retirement obligations	931,870	968,484
Total liabilities	2,094,299	4,005,743
Commitments and contingencies
Stockholders' equity
Preferred stock - $1.00 par value; 10,000,000 shares authorized; none outstanding
Common stock - $0.50 par value; 40,000,000 shares authorized; 2,104,266 issued and 2,037,266 shares outstanding as of December 31, 2017 and March 31, 2017	1,052,133	1,052,133
Additional paid-in capital	7,262,113	7,244,848
Retained earnings	165,392	751,342
Treasury stock, at cost - (67,000 shares)	(346,001)	(346,001)
Total stockholders' equity	8,133,637	8,702,322
Total liabilities and stockholders' equity	$ 10,227,936	$ 12,708,065

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2017	Mar. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock par value	$ 1	$ 1
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares outstanding
Common stock par value	$ 0.50	$ 0.50
Common stock shares authorized	40,000,000	40,000,000
Common stock shares issued	2,104,266	2,037,266
Common stock shares outstanding	2,104,266	2,037,266
Treasury stock, shares	67,000	67,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Operating revenue:
Oil and gas	$ 641,468	$ 580,419	$ 1,903,361	$ 1,662,985
Other	13,463	9,715	38,342	178,174
Total operating revenues	654,931	590,134	1,941,703	1,841,159
Operating expenses:
Production	248,865	234,372	813,570	721,864
Accretion of asset retirement obligation	8,639	9,248	25,196	26,939
Depreciation, depletion, and amortization	247,801	273,885	844,566	879,637
General and administrative	225,528	199,995	765,056	780,608
Total operating expenses	730,833	717,500	2,448,388	2,409,048
Operating loss	(75,902)	(127,366)	(506,685)	(567,889)
Other income (expenses):
Interest income	34	3	45	175
Interest expense	(25,360)	(32,378)	(79,310)	(123,385)
Net other expense	(25,326)	(32,375)	(79,265)	(123,210)
Loss before income taxes	(101,228)	(159,741)	(585,950)	(691,099)
Income tax benefit:
Deferred
Net loss	$ (101,228)	$ (159,741)	$ (585,950)	$ (691,099)
Loss per common share:
Basic and diluted	$ (0.05)	$ (0.08)	$ (0.29)	$ (0.34)
Weighted average common shares outstanding:
Basic and diluted	2,037,266	2,037,266	2,037,266	2,037,266

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - 9 months ended Dec. 31, 2017 - USD ($)	Common Stock Par Value [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Total
Balance at Mar. 31, 2017	$ 1,052,133	$ (346,001)	$ 7,244,848	$ 751,342	$ 8,702,322
Balance, shares at Mar. 31, 2017	2,104,266	(67,000)
Net loss				$ (585,950)	$ (585,950)
Common stock shares, issued
Common stock shares, held in treasury, Acquisitions, shares
Stock based compensation			$ 17,265		$ 17,265
Balance at Dec. 31, 2017	$ 1,052,133	$ (346,001)	$ 7,262,113	$ 165,392	$ 8,133,637
Balance, shares at Dec. 31, 2017	2,104,266	(67,000)
Common stock shares outstanding at Dec. 31, 2017					2,104,266

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (585,950)	$ (691,099)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock-based compensation	17,265	42,424
Depreciation, depletion and amortization	844,566	879,637
Accretion of asset retirement obligations	25,196	26,939
Changes in assets and liabilities:
Increase in accounts receivable	(235,244)	(65,801)
Decrease in prepaid expenses	17,543	33,649
Increase in non-current assets		(25,219)
Increase (decrease) in accounts payable and accrued expenses	77,024	(103,500)
Settlement of asset retirement obligations	(7,264)	(93,630)
Net cash provided by operating activities	153,136	3,400
Cash flows from investing activities:
Additions to oil and gas properties	(802,184)	(517,454)
Additions to other property and equipment
Drilling refunds	74,744	75,808
Proceeds from sale of oil and gas properties and equipment	2,548,135	2,975,091
Net cash provided by investing activities	1,820,695	2,533,445
Cash flows from financing activities:
Reduction of long-term debt	(1,950,000)	(2,510,000)
Net cash used in financing activities	(1,950,000)	(2,510,000)
Net increase in cash and cash equivalents	23,831	26,845
Cash and cash equivalents at beginning of period	73,451	34,013
Cash and cash equivalents at end of period	97,282	60,858
Supplemental disclosure of cash flow information:
Cash paid for interest	81,415	126,593
Non-cash investing and financing activities:
Asset retirement obligations	$ 6,356	$ 5,247

Nature of Operations

Nature of Operations	9 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations Mexco Energy Corporation (a Colorado corporation) and its wholly owned subsidiaries, Forman Energy Corporation (a New York corporation), Southwest Texas Disposal Corporation (a Texas corporation) and TBO Oil & Gas, LLC (a Texas limited liability company) (collectively, the “Company”) are engaged in the exploration, development and production of natural gas, crude oil, condensate and natural gas liquids (“NGLs”). Most of the Company’s oil and gas interests are centered in West Texas; however, the Company owns producing properties and undeveloped acreage in thirteen states. Although the Company’s oil and gas interests predominately are operated by others, the Company operates five wells in which it owns an interest.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. Basis of Presentation and Significant Accounting Policies Principles of Consolidation Estimates and Assumptions Interim Financial Statements. Reclassifications.

Property Sales

Property Sales	9 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property Sales	3. Property Sales In December 2017, the Company received approximately $1.9 million in cash from a sale of joint venture leasehold marginal producing working interests in several thousand acres located in Ward and Midland Counties, Texas. Of these proceeds, approximately $1.518 million was applied to the Company’s bank debt and the balance to the Company’s working capital. Additionally, approximately $200,000 of the purchase price is being held in escrow pending payment of closing costs and resolution of title issues as to a small portion of the sale assets. This amount is reflected in accounts receivable escrow on our consolidated balance sheets. During the first nine months of fiscal 2018, the Company sold for a total consideration of $460,461, leasehold interests in 137 net acres in the Scoop-Stack areas of Canadian and Grady Counties, Oklahoma. The first of these transactions in which the Company retained its interests in the existing producing wellbores on the acreage was in the amount of $336,730. The second transaction in the amount of $123,731 included the producing wellbores as well as the acreage. Of these proceeds, $410,000 was applied to reduce bank indebtedness and the balance of $50,461 was applied to working capital of the Company. Subsequently, in January 2018, the Company sold additional leasehold interests in the Scoop-Stack area of Grady County, Oklahoma for $46,000 which the Company used to reduce bank indebtedness. The Company retained its interests in the existing producing wellbore on the acreage.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	4. Asset Retirement Obligations The Company’s asset retirement obligations (“ARO”) relate to the plugging of wells, the removal of facilities and equipment, and site restoration on oil and gas properties. The fair value of a liability for an ARO is recorded in the period in which it is incurred, discounted to its present value using the credit adjusted risk-free interest rate, and a corresponding amount capitalized by increasing the carrying amount of the related long-lived asset. The liability is accreted each period, and the capitalized cost is depreciated as part of oil and gas properties, using the full cost method. The ARO is included in the Consolidated Balance Sheets with the current portion being included in the accounts payable and other accrued expenses. The following table provides a rollforward of the AROs for the first nine months of fiscal 2018: Carrying amount of asset retirement obligations as of April 1, 2017 $ 978,484 Liabilities incurred 6,356 Liabilities settled (68,166 ) Accretion expense 25,196 Carrying amount of asset retirement obligations as of December 31, 2017 941,870 Less: Current portion 10,000 Non-Current asset retirement obligation $ 931,870

Credit Facility

Credit Facility	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Credit Facility	5. Credit Facility The Company has a loan agreement with Bank of America, N.A. (the “Agreement”), which provided for a credit facility of $5,570,000 with no monthly commitment reductions and a borrowing base to be evaluated on July 30 and January 1 of each year or at any additional time in the bank’s discretion. The borrowing base was evaluated on January 26, 2018 and set at $950,000. The borrowing base also resets to the extent the Company sells or otherwise disposes of any of its oil and gas properties as the Company is required to pay 100% of such net proceeds to the lender resulting in a permanent reduction of the borrowing base unless prior approval by the bank states otherwise. The Agreement was renewed eleven times with the eleventh amendment effective as of March 8, 2017 with a maturity date of November 30, 2020. Under such renewal agreement, interest on the facility accrues at an annual rate equal to the British Bankers Association London Interbank Offered Rate (“BBA LIBOR”) daily floating rate, plus 3.0 percentage points, which was 4.56% on December 31, 2017. Interest on the outstanding amount under the credit agreement is payable monthly. There was no availability of this line of credit at December 31, 2017. No principal payments are anticipated to be required through November 30, 2020. Amounts borrowed under the Agreement are collateralized by the common stock of the Company’s wholly owned subsidiaries and substantially all of the Company’s oil and gas properties. The Agreement contains customary covenants for credit facilities of this type including limitations on change in control, disposition of assets, mergers and reorganizations. The Company is also obligated to meet certain financial covenants under the Agreement and requires minimum earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $650,000 for each trailing four fiscal quarters and minimum interest coverage ratios (EBITDA/Interest Expense) of 2.00 to 1.00 for each quarter. The Company is in compliance with all covenants as of December 31, 2017 and believes it will remain in compliance for the next fiscal year. In addition, this Agreement prohibits the Company from paying cash dividends on its common stock. The Agreement does grant the Company permission to enter into hedge agreements however, it is under no obligation to do so. The Agreement allows for up to $500,000 of the facility to be used for outstanding letters of credit. As of December 31, 2017, one letter of credit for $50,000, in lieu of plugging bond with the Texas Railroad Commission (“TRRC”) covering the properties the Company operates is outstanding under the facility. This letter of credit renews annually. The Company will pay a fee in an amount equal to 1 percent (1.0%) per annum of the outstanding undrawn amount of each standby letter of credit, payable monthly in arrears, on the basis of the face amount outstanding on the day the fee is calculated. The balance outstanding on the line of credit as of December 31, 2017 was $950,000. The following table is a summary of activity on the Bank of America, N.A. line of credit for the nine months ended December 31, 2017: Principal Balance at April 1, 2017: $ 2,900,000 Borrowings - Repayments 1,950,000 Balance at December 31, 2017: $ 950,000 The balance outstanding on the line of credit as of February 12, 2018 was $900,000.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes On December 22, 2017, the tax legislation referred to as the “Tax Cuts and Jobs Act” (the 2017 Tax Reform Act) was enacted. The more significant changes that impact the Company are the reduction in the corporate federal income tax rate from 35% to 21%. Under GAAP, the tax effects of a change in tax law must be recognized in the period in which the law is enacted, or the quarter ending December 31, 2017 for the 2017 Tax Reform Act. GAAP also requires deferred income tax assets and liabilities to be measured at the enacted tax rate expected to apply when temporary differences are to be realized or settled. The Company’s deferred income taxes were remeasured based upon the new tax rates which amounted to a $509,863 reduction in deferred tax asset and valuation amount. A valuation allowance for deferred tax assets, including net operating losses, is recognized when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. To assess that likelihood, we use estimates and judgment regarding our future taxable income, and we consider the tax consequences in the jurisdiction where such taxable income is generated, to determine whether a valuation allowance is required. Such evidence can include our current financial position, our results of operations, both actual and forecasted, the reversal of deferred tax liabilities, and tax planning strategies as well as the current and forecasted business economics of our industry. Based on the material write-downs of the carrying value of our oil and natural gas properties during fiscal 2016, we are in a net deferred tax asset position as of December 31, 2017. Our deferred tax asset is $822,425 as of December 31, 2017 with a valuation amount of $822,425. We believe it is more likely than not that these deferred tax assets will not be realized. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit the use of deferred tax assets. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income are increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as future expected growth.

Loss Per Common Share

Loss Per Common Share	9 Months Ended
	Dec. 31, 2017
Loss per common share:
Loss Per Common Share	7. Loss Per Common Share The Company’s basic net loss per share has been computed based on the weighted average number of common shares outstanding during the period. Diluted net loss per share assumes the exercise of all stock options having exercise prices less than the average market price of the common stock during the period using the treasury stock method and is computed by dividing net loss by the weighted average number of common shares and dilutive potential common shares (stock options) outstanding during the period. In periods where losses are reported, the weighted-average number of common shares outstanding excludes potential common shares, because their inclusion would be anti-dilutive. The following is a reconciliation of the number of shares used in the calculation of basic net loss per share and diluted loss per share for the three and nine month periods ended December 31, 2017 and 2016: Three Months Ended Nine Months Ended December 31 December 31 2017 2016 2017 2016 Net loss $ (101,228 ) $ (159,741 ) $ (585,950 ) $ (691,099 ) Shares outstanding: Weighted avg. common shares outstanding – basic 2,037,266 2,037,266 2,037,266 2,037,266 Effect of the assumed exercise of dilutive stock options - - - - Weighted avg. common shares outstanding – dilutive 2,037,266 2,037,266 2,037,266 2,037,266 Loss per common share: Basic and diluted $ (0.05 ) $ (0.08 ) $ (0.29 ) $ (0.34 ) Due to a net loss for the three and nine months ended December 31, 2017 and 2016, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Related party transactions for the Company relate to shared office expenditures in addition to administrative and operating expenses paid on behalf of the principal stockholder. The total billed to and reimbursed by the stockholder for the three months ended December 31, 2017 and 2016 was $11,873 and $9,565, respectively. The total billed to and reimbursed by the stockholder for the nine months ended December 31, 2017 and 2016 was $30,355 and $22,061, respectively.

Basis of Presentation and Sig15

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation
Estimates and Assumptions	Estimates and Assumptions
Interim Financial Statements	Interim Financial Statements.
Reclassifications	Reclassifications.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Rollforward of Asset Retirement Obligations	The following table provides a rollforward of the AROs for the first nine months of fiscal 2018: Carrying amount of asset retirement obligations as of April 1, 2017 $ 978,484 Liabilities incurred 6,356 Liabilities settled (68,166 ) Accretion expense 25,196 Carrying amount of asset retirement obligations as of December 31, 2017 941,870 Less: Current portion 10,000 Non-Current asset retirement obligation $ 931,870

Credit Facility (Tables)

Credit Facility (Tables)	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Summary of Line of Credit Activity	The following table is a summary of activity on the Bank of America, N.A. line of credit for the nine months ended December 31, 2017: Principal Balance at April 1, 2017: $ 2,900,000 Borrowings - Repayments 1,950,000 Balance at December 31, 2017: $ 950,000

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	9 Months Ended
	Dec. 31, 2017
Loss per common share:
Schedule of Reconciliation of Basic Net Loss Per Share and Diluted Loss Per Share	The following is a reconciliation of the number of shares used in the calculation of basic net loss per share and diluted loss per share for the three and nine month periods ended December 31, 2017 and 2016: Three Months Ended Nine Months Ended December 31 December 31 2017 2016 2017 2016 Net loss $ (101,228 ) $ (159,741 ) $ (585,950 ) $ (691,099 ) Shares outstanding: Weighted avg. common shares outstanding – basic 2,037,266 2,037,266 2,037,266 2,037,266 Effect of the assumed exercise of dilutive stock options - - - - Weighted avg. common shares outstanding – dilutive 2,037,266 2,037,266 2,037,266 2,037,266 Loss per common share: Basic and diluted $ (0.05 ) $ (0.08 ) $ (0.29 ) $ (0.34 )

Property Sales (Details Narrati

Property Sales (Details Narrative)	9 Months Ended
	Dec. 31, 2017USD ($)a
Proceeds from sale of joint venture	$ 1,900,000
Proceeds from bank debt	1,518,000
Purchase price of pending payment of closing costs	200,000
Sale of consideration	460,461
Bank indebtedness	410,000
Working capital	50,461
January 2018 [Member]
Sale of leasehold interest	46,000
First Transaction [Member]
Interest in existing producing wellbores	336,730
Second Transaction [Member]
Interest in existing producing wellbores	$ 123,731
Sccop-Stack Area of Canadian [Member]
Area of land | a	137

Assets Retirement Obligations -

Assets Retirement Obligations - Schedule of Rollforward of Asset Retirement Obligations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Carrying amount of asset retirement obligations as of April 1, 2017			$ 978,484
Liabilities incurred			6,356
Liabilities settled			(68,166)
Accretion expense	$ 8,639	$ 9,248	25,196	$ 26,939
Carrying amount of asset retirement obligations as of September 30, 2017	941,870		941,870
Less: Current portion	10,000		10,000
Non-Current asset retirement obligation	$ 931,870		$ 931,870		$ 968,484

Credit Facility (Details Narrat

Credit Facility (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Debt instrument covenant description	For each trailing four fiscal quarters and minimum interest coverage ratio (EBITDA/Interest Expense) of 2.00 to 1.00 for each quarter. The Company is in compliance with all covenants as of September 30, 2017 and believes it will remain in compliance for the next fiscal year.
Line of credit	$ 950,000	$ 2,900,000
Each Trailing Fiscal Year [Member]
Amendment replaces the tangible net worth	650,000
February 12, 2018 [Member]
Line of credit	$ 900,000
Revolving Credit Agreement [Member]
Line of credit unused commitment fee percentage	1.00%
Maximum line of credit amount used for letter of credit	$ 500,000
Letter of credit	50,000
Revolving Credit Agreement [Member] | Bank of America, N.A [Member]
Credit facility face amount	$ 5,570,000
Percentage of amount require to pay lender	100.00%
Revolving Credit Agreement [Member] | Bank of America, N.A [Member] | January 26, 2018 [Member]
Line of credit borrowing capacity	$ 950,000
Original and Renewed Agreements [Member]
Line of credit maturity date	Nov. 30, 2020
Accrued interest rate	4.56%
Line of credit commitment fee description	Under such renewal agreement, interest on the facility accrues at an annual rate equal to the British Bankers Association London Interbank Offered Rate (“BBA LIBOR”) daily floating rate, plus 3.0 percentage points, which was 4.56% on December 31, 2017. Interest on the outstanding amount under the credit agreement is payable monthly.
Original and Renewed Agreements [Member] | BBA LIBOR [Member] | Maximum [Member]
Accrues variable interest rate	3.00%

Credit Facility - Summary of Li

Credit Facility - Summary of Line of Credit Activity (Details)	9 Months Ended
	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
Balance at April 1, 2017:	$ 2,900,000
Borrowings
Repayments	1,950,000
Balance at December 31, 2017:	$ 950,000

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	Dec. 22, 2017	Dec. 31, 2017
Deferred tax assets		$ 822,425
Deferred tax valuation amount		822,425
Deferred tax assets valuation amount change		$ 509,863
Maximum [Member]
Federal income tax rate	35.00%
Minimum [Member]
Federal income tax rate	21.00%

Loss Per Common Share - Schedul

Loss Per Common Share - Schedule of Reconciliation of Basic Net Loss Per Share and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Loss per common share:
Net loss	$ (101,228)	$ (159,741)	$ (585,950)	$ (691,099)
Weighted avg. common shares outstanding - basic	2,037,266	2,037,266	2,037,266	2,037,266
Effect of the assumed exercise of dilutive stock options
Weighted avg. common shares outstanding - dilutive	2,037,266	2,037,266	2,037,266	2,037,266
Loss per common share: Basic and diluted	$ (0.05)	$ (0.08)	$ (0.29)	$ (0.34)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Related Party Transactions [Abstract]
Total billed to and reimbursed expenses	$ 11,873	$ 9,565	$ 30,355	$ 22,061