Note 14. Accounts receivable - net

Accounts receivable - net is comprised of the following:

 

The following table provides the roll-forward of the credit loss allowances recognized for the accounts receivable not yet sold:

 

When necessary, the Company records an allowance for credit losses for individually evaluated customer accounts deemed uncollectible in accordance with ASC 326. Such individually evaluated receivables totaled $5.3 million and $5.5 million as of June 30, 2026 and December 31, 2025, respectively. Account balances are written off against the allowance for credit losses in the period in which it is determined that collection is not probable. Write-offs amounted to $0.4 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively.

As of June 30, 2026 and December 31, 2025, the Company derecognized accounts receivable of $180.4 million and $175.2 million, respectively, in connection with its receivables factoring program that is accounted for as sales. Cash proceeds received from these transfers totaled $179.5 million June 30, 2026 and $173.6 million for the year ended December 31, 2025. Factoring fees recognized on receivables sold under the factoring program amounted to $0.5 million and $0.3  $0.9 million and $0.7 million for the six months ended June 30, 2026 and 2025, respectively. The obligations related to factoring arrangements in the consolidated statements of financial position represent cash collected from customers after the transfer of trade receivables and remitted on behalf of the factors.