XML 21 R10.htm IDEA: XBRL DOCUMENT

Note 3 - Allowance for Credit Losses

3 Months Ended

Mar. 31, 2022

Allowance for Credit Losses [Text Block]

(3)

ALLOWANCE FOR CREDIT LOSSES

Expected credit losses are recognized on the initial recognition of our trade accounts receivable and contract assets. In each subsequent reporting period, even if a loss has not yet been incurred, credit losses are recognized based on the history of credit losses and current conditions, as well as reasonable and supportable forecasts affecting collectability. We developed an expected credit loss model applicable to our trade accounts receivable and contract assets that considers our historical performance and the economic environment, as well as the credit risk and its expected development for each segmented group of customers that share similar risk characteristics. It is our practice to write off receivables when all legal options for collection have been exhausted.

Activity in the allowance for credit losses for the three months ended March 31, 2022 is as follows:

	Trade		Due
(In Thousands)	and Other		from
	Receivables		Affiliates
Balance at January 1, 2022	$	1,948	$	72,456
Current period provision for expected credit losses		39		—
Acquisition of Sonatide joint venture (see Note 7)		—		(59,678	)
Other		—		34
Balance at March 31, 2022	$	1,987	$	12,812