|
|
4.
|
Trade Accounts Receivable
|
Trade accounts receivables are recorded at their face amount, less an allowance for expected losses on doubtful accounts. The allowance for doubtful accounts is calculated based on customer-specific analysis and an aging
methodology using historical loss information. The Company believes historical loss information is a reasonable basis for expected credit losses as the Company’s historical credit loss experience correlates with its customer delinquency status.
This information is also adjusted for any known current economic conditions. Forecasted economic conditions have not had a significant impact on the current credit loss estimate due to the short-term nature of the Company’s customer receivables;
however, the Company will continue to monitor and evaluate the rapidly changing economic conditions. Additionally, as the Company only has one
portfolio segment, there are not different risks between portfolios. Specific accounts are written off against the allowance for doubtful accounts when the receivable is deemed no longer collectible.
The following table summarizes the changes in
the allowance for doubtful accounts during the three and six month periods ended June 30, 2025 and 2024:
|
(In thousands)
Three Months Ended June 30, 2025
|
|
Allowance for
Doubtful Accounts
|
|
|
Balance at
March 31, 2025
|
|
$
|
5,205
|
|
|
Provision for
expected credit losses
|
|
|
390
|
|
|
Accounts
written off
|
|
|
(174
|
)
|
|
Translation and
other activity
|
|
|
191
|
|
|
Balance at June
30, 2025
|
|
$
|
5,612
|
|
|
(In thousands)
Three Months Ended June 30, 2024
|
|
Allowance for
Doubtful Accounts
|
|
Balance at March 31, 2024
|
|
$
|
3,882
|
|
|
Provision for
expected credit losses
|
|
|
496
|
|
|
Accounts
written off
|
|
|
(5
|
)
|
|
Translation and
other activity
|
|
|
(98
|
)
|
|
Balance at June
30, 2024
|
|
$
|
4,275
|
|
|
(In thousands)
Six
Months Ended June 30, 2025
|
|
Allowance for
Doubtful Accounts
|
|
|
Balance at
December 31, 2024
|
|
$
|
5,023
|
|
|
Provision for
expected credit losses
|
|
|
744
|
|
|
Accounts
written off
|
|
|
(465
|
)
|
|
Translation and
other activity
|
|
|
310
|
|
|
Balance at June
30, 2025
|
|
$
|
5,612
|
|
|
(In thousands)
Six
Months Ended June 30, 2024
|
|
Allowance for
Doubtful Accounts
|
|
|
Balance at
December 31, 2023
|
|
$
|
4,373
|
|
|
Provision for
expected credit losses
|
|
|
803
|
|
|
Accounts
written off
|
|
|
(752 |
) |
|
Translation and
other activity
|
|
|
(149 |
) |
|
Balance at June
30, 2024
|
|
$ |
4,275 |
|
|