Transaction with Related Parties
|12 Months Ended|
Dec. 31, 2018
|Related Party Transactions [Abstract]|
|Transaction with Related Parties||
NOTE 4 — TRANSACTIONS WITH RELATED PARTIES
Accounts Receivable due from Related Parties
Tellurian’s accounts receivable due from related parties primarily consists of tax indemnities from employees who received share-based compensation in 2016.
Accounts Payable due to Related Parties
In December 2017, Tellurian and Martin Houston, a major shareholder and Vice Chairman of the Company, agreed to mutually discharge $0.3 million owed by Tellurian to entities partially owned by Mr. Houston.
Non-current Note Receivable due from Related Party
In July 2017, the $0.3 million non-current note receivable due from Mr. Houston was repaid in full, and the demand note evidencing the receivable was canceled.
During the year ended December 31, 2018, the Company incurred approximately $0.1 million in legal fees to a law firm for various legal advice. During the year ended December 31, 2017, the Company incurred $0.7 million in legal fees to the same law firm for advice associated with a lawsuit that was settled in April 2017. A member of our board of directors is a partner at such law firm.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef