Trade Accounts Receivables and Other Receivables |
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| Trade Accounts Receivables and Other Receivables | Trade Accounts Receivables and Other receivables Accounts receivable consist of the following:
(a) Other receivables include employee receivables, insurance receivable, tax claims and refunds and other miscellaneous items not included in Trade accounts receivable, net. The change in provision for expected credit losses related to trade accounts receivable was as follows:
At March 31, 2026, $8.3 million of the Company's trade accounts receivable were past due by twelve months or more, with $6.0 million of this amount reserved. Accounts Receivable Securitization Facility In June 2022, the Company and its SPE entered into an AR Facility with PNC Bank, National Association ("PNC") to accelerate cash flows from trade accounts receivable. On October 1, 2024, the Company renewed the AR Facility for a three-year term expiring in October 2027. The maximum purchase commitment by PNC was $150.0 million as of December 31, 2024 and was increased to $160.0 million, as amended in February 2025. The total outstanding balance of trade receivables that have been sold and derecognized by the SPE was $160.0 million as of March 31, 2026 and December 31, 2025. The SPE owned $57.9 million and $47.5 million of trade receivables as of March 31, 2026 and December 31, 2025, respectively, which is included in the caption Trade accounts receivable, net, on the Condensed Consolidated Balance Sheets. No proceeds were received from the AR Facility during the three months ended March 31, 2026. The Company received proceeds of $10.0 million during the three months ended March 31, 2025. Factoring Arrangements The Company maintains factoring arrangements with a financial institution to sell certain accounts receivable that are also accounted for as a sale of financial assets. The following table reflects balances for net amounts sold and program capacities for the arrangements:
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